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Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 1029.91, 1042.90, 1027.34, 1038.15, 1061.35, 1063.07, 994.38, 988.67, 1004.45, 999.18, 990.64, 1004.55, 1007.48, 1027.44, 1046.21, 1054.42, 1047.87, 1079.98, 1115.30, 1117.44, 1166.72, 1173.68, 1143.84, 1165.20, 1179.97, 1179.97, 1222.50, 1251.01, 1274.99, 1255.15, 1267.12, 1272.83, 1223.54, 1150.00, 1188.49, 1116.72, 1175.83, 1221.38, 1231.92, 1240.00, 1249.61, 1187.81, 1100.23, 973.82, 1036.74, 1054.23, 1120.54, 1049.14, 1038.59, 937.52, 972.78, 966.72, 1045.77, 1047.15, 1039.97, 1026.43, 1071.79, 1080.50, 1102.17, 1143.81, 1133.25, 1124.78, 1182.68, 1176.90, 1175.95, 1187.87, 1187.13, 1205.01, 1200.37, 1169.28, 1167.54, 1172.52, 1182.94, 1193.91, 1211.67, 1210.29, 1229.08, 1222.05, 1231.71, 1207.21, 1250.15, 1265.49, 1281.08, 1317.73, 1316.48, 1321.79, 1347.89, 1421.60, 1452.82, 1490.09.
|
[Bitcoin Technical Analysis for 2017-05-03]
Volume: 583795968, RSI (14-day): 84.82, 50-day EMA: 1212.31, 200-day EMA: 994.48
[Wider Market Context]
Gold Price: 1246.40, Gold RSI: 41.51
Oil Price: 47.82, Oil RSI: 33.71
[Recent News (last 7 days)]
Bitcoin/Dollar Hits All-time High, CNH/JPY Eyes Key Resistance: DailyFX.com -
Talking Points：
-Bitcoin against the U.S. Dollar soared to a new all-time high, driven by Japanese purchases.
- The CNH/JPY rose back to below the yearly open range low; Chinese Caixin PMI prints could add momentums.
-Read DailyFX latest trading guides fortheoutlookof the Japanese Yen in the second quarter.
To receive reports from this analyst,sign up for Renee Mu’ distribution list.
Bitcoin
Bitcoin against the U.S. Dollar set a new all-time highon Tuesday, touching 1481.73. This is mostly driven by the increasing demand in Japan according to bitcoinity.
After the Chinese regulator started to crack down illegal transactions through Chinese Bitcoin trading platforms, the ratio of Bitcoin trading volume in China to the world hasdropped to 20% in Marchfrom more than 90% previously. Then, Japan, overtaking China, becomes the largest Bitcoin trading country by volume.
From a technical point of view, the BTC/USD is currently right below a key resistance level, the top line of a parallel. Traders will want to be aware of a likely retracement around this level.
BTC/USD1-day
Prepared by Renee Mu.
CNH/JPY
The offshore Yuan against the Japanese Yen also approaches to a major resistance level. In the mid-March, the pair broke below the open range low of 16.31 and now is back to around this level.
CNH/JPY 1-day
Prepared by Renee Mu.
In the coming session, China will release the Caixin PMI prints for April. If those gauges come in to be better than expected, they may add momentum to the CNH/JPY and increase the odds of a breakout.
See the fullDailyFX Economic Calendar
YuanIndexes
- As of last Friday, the Chinese Yuan (CNY) has been losing to a basket of currencies for the third week, measured by both the CFETS Yuan Index and the BIS Yuan Index; it has beenfalling for the second week, measured by the SDR Yuan Index. In specific, the primary gauge for Yuan’s value to a basket of currencies, CFETS Yuan Index, has dropped to the lowest level since it was quoted in 2015, to 92.98 last Friday.
Data downloaded from Bloomberg; chart prepared by Renee Mu.
Market News
Sina News: China’s most important online media source, similar to CNN in the US. They also own a Chinese version of Twitter, called Weibo, with around 200 million active usersmonthly.
Chinese steel producers showed improved performance in the first quarter. 33 out of 36 steel companies that have released first-quarter annual reports revealed positive earnings in the first three months. The total profits of these listing steel companies soared to more than 11.0 billion yuan compared to a loss of -4.0 billion yuan in the first quarter last year.
- China’s State-owned Assets Supervision and Administration Commission hosted a conference, requiring steel and coal firms to cut excessive production. The annual target for steel companies in 2017 is to reduce 5.95 million tons of capacity; the target for coal companies is to cut 24.93 million tons of capacity. Amid the pressure on achieving these goals, the profits of Chinese steel and coal producers could drop again.
To receive reports from this analyst,sign up for Renee Mu’ distribution list.
original source
DailyFXprovides forex news and technical analysis on the trends that influence the global currency markets.Learn forex trading with a free practice account and trading charts fromIG. || Bitcoin/Dollar Hits All-time High, CNH/JPY Eyes Key Resistance: DailyFX.com -
Talking Points：
-Bitcoin against the U.S. Dollar soared to a new all-time high, driven by Japanese purchases.
- The CNH/JPY rose back to below the yearly open range low; Chinese Caixin PMI prints could add momentums.
-Read DailyFX latest trading guides fortheoutlookof the Japanese Yen in the second quarter.
To receive reports from this analyst,sign up for Renee Mu’ distribution list.
Bitcoin
Bitcoin against the U.S. Dollar set a new all-time highon Tuesday, touching 1481.73. This is mostly driven by the increasing demand in Japan according to bitcoinity.
After the Chinese regulator started to crack down illegal transactions through Chinese Bitcoin trading platforms, the ratio of Bitcoin trading volume in China to the world hasdropped to 20% in Marchfrom more than 90% previously. Then, Japan, overtaking China, becomes the largest Bitcoin trading country by volume.
From a technical point of view, the BTC/USD is currently right below a key resistance level, the top line of a parallel. Traders will want to be aware of a likely retracement around this level.
BTC/USD1-day
Prepared by Renee Mu.
CNH/JPY
The offshore Yuan against the Japanese Yen also approaches to a major resistance level. In the mid-March, the pair broke below the open range low of 16.31 and now is back to around this level.
CNH/JPY 1-day
Prepared by Renee Mu.
In the coming session, China will release the Caixin PMI prints for April. If those gauges come in to be better than expected, they may add momentum to the CNH/JPY and increase the odds of a breakout.
See the fullDailyFX Economic Calendar
YuanIndexes
- As of last Friday, the Chinese Yuan (CNY) has been losing to a basket of currencies for the third week, measured by both the CFETS Yuan Index and the BIS Yuan Index; it has beenfalling for the second week, measured by the SDR Yuan Index. In specific, the primary gauge for Yuan’s value to a basket of currencies, CFETS Yuan Index, has dropped to the lowest level since it was quoted in 2015, to 92.98 last Friday.
Data downloaded from Bloomberg; chart prepared by Renee Mu.
Market News
Sina News: China’s most important online media source, similar to CNN in the US. They also own a Chinese version of Twitter, called Weibo, with around 200 million active usersmonthly.
Chinese steel producers showed improved performance in the first quarter. 33 out of 36 steel companies that have released first-quarter annual reports revealed positive earnings in the first three months. The total profits of these listing steel companies soared to more than 11.0 billion yuan compared to a loss of -4.0 billion yuan in the first quarter last year.
- China’s State-owned Assets Supervision and Administration Commission hosted a conference, requiring steel and coal firms to cut excessive production. The annual target for steel companies in 2017 is to reduce 5.95 million tons of capacity; the target for coal companies is to cut 24.93 million tons of capacity. Amid the pressure on achieving these goals, the profits of Chinese steel and coal producers could drop again.
To receive reports from this analyst,sign up for Renee Mu’ distribution list.
original source
DailyFXprovides forex news and technical analysis on the trends that influence the global currency markets.Learn forex trading with a free practice account and trading charts fromIG. || The Google Home is the first voice assistant to know who's talking: You probably know what the Amazon Echo ( AMZN ) is, right? It’s the tall black cylinder that serves as a Siri for your home ( here’s my review ). From across the room, it can understand and field a huge number of queries—weather, sports, movies, facts—and connect to a huge number of services and home-automation products (Nest, Uber, Domino’s Pizza, etc.). A few months back, Google ( GOOG , GOOGL ), without a trace of shame, released its own, nearly identical cylinder, called Google Home ($130). Since Amazon had a five-year head start, it has remained the more capable cylinder. But last month, Google introduced a new feature that changes the game so much , it’s practically a different sport: Person recognition. That is, the Google Home now knows who is speaking, and can deliver the answer based on that person’s calendar, work commute, music playlists, Uber account, and so on. (It can distinguish up to six people in a household.) Training the thing to recognize a new voice is as simple as saying “OK Google” and “Hey Google” twice each into the companion phone app. Now, there are some important footnotes to this business—more on that in a moment. But in theory, here’s what multi-voice recognition is supposed to get you: “Hey Google, what’s next on my calendar?” It speaks your next appointment. (Requires, of course, that you keep your agenda on Google Calendar.) “OK Google, play my Relax playlist.” It begins to play the corresponding playlist from your Spotify, YouTube Music, Pandora, or Google Music account. “Hey Google: Add cranberry juice to my shopping list.” It adds that item to your shopping list, as maintained on Google Keep. “Hey Google, how does my commute look?” It speaks the current travel time to your place of work, based on current traffic conditions. (Requires that you’ve entered your home and work addresses in the app.) “OK Google: Give me the news.” It plays the latest news report from your preferred news source (NPR, for example). “OK Google, call me an Uber.” Summons the nearest Uber driver, using your Uber account. When you play a podcast, the Google Home remembers where you left off. The recommendation engines for services like YouTube and Spotify now keep everybody’s consumption habits separate, so your trash-action-movie habits don’t pollute your wife’s chick-flick history. Story continues In fact, Google says that all add-on features (third-party voice commands that Google calls Services and Amazon calls Skills) are automatically speaker-recognizing. They all store each family member’s history and preferences separately. Person recognition in practice All of that is the theory. In practice, there are a few problems left to solve. The first one is that the recognition just doesn’t work all the time. Too often, the Home responds by saying, “I wasn’t able to verify your voice.” She recommends that you re-train your voice. Actually, you’re lucky if she says that. In some cases, she doesn’t even let you know that she can’t identify you; instead, she just treats you as a guest, and you’ll never know what went wrong. Here’s what I mean: For days, I tried to get the shopping-list feature to work. “Add shaving cream to my shopping list,” I’d say—and that would work. Then my assistant Jan would try it. “Add peanut butter to my shopping list”—but it would add peanut butter to my shopping list, alongside the shaving cream. An emailed cry for help to Google revealed the answer: The company believes that most households maintain a single shopping list. So until you change your settings, everybody’s requests get dumped onto one common list. (To enable separate shopping lists, people 2, 3, 4, 5, and 6 must open the Google Home app, create a new shopping list, and designate it as their Primary lists.) But even then it still might not work. If Google Home doesn’t recognize the speaker, she doesn’t say “I wasn’t able to verify the voice.” Instead, she dumps the shopping-list item onto the first person’s list. Baffling. I kept running into a similar problem with music. If you say, “Play my Party playlist,” Google Home starts playing soft jazz, which is what’s in your Spotify Party playlist. But if your teenager says “Play my Party playlist,” it doesn’t start playing his headbanger heavy-metal; it plays your soft jazz. Here again, that happens when Google Home isn’t sure who’s speaking. Instead of telling you, she just starts playing the first person’s music. How to fix the not-recognizing If you find that Google Home keeps not recognizing you, you’re supposed to open the app and repeat the “Hey Google”/”OK Google” training business. Two problems. First, it’s ridiculously hard to find that place in the app. (Hint: Tap the Menu icon in top left; tap More Settings; tap Shared Devices; tap “Teach it your voice again.”) Second problem: What Google doesn’t make clear is that you’re not re-training Google Home; you’re providing additional training. I had assumed that my new “Hey Google/OK Google” recordings would replace the original ones. But in fact, Google says, the more times you do this, the more accurate she’ll get. So maybe there’s hope for this voice-differentiation thing after all. Google vs. Amazon Most head-to-head comparisons of the Google Home and the Amazon Echo declare Amazon the winner, primarily because it does so many more things. It controls far more home-automation devices (“Alexa, make the downstairs two degrees cooler,” “Alexa, turn off the bedroom lights,” etc.). And software companies have created at least 7,000 Skills (add-on commands)—far more than the puny 215 available for Google. I have to say, though: Even though Amazon’s ecosystem puts Google’s to shame, its technology is not as good. Some examples: You can’t use any of Amazon’s Skills (add-on commands) until you open the app, find the one you want in a list, and turn it on manually. All of Google’s Services are ready and waiting to use at any time. Google Home communicates with Google Chromecast, a $35 dongle that plugs into your TV. You can say, “OK Google, play John Oliver on TV,” or “Hey Google, turn on subtitles,” or “OK Google, turn on Netflix.” Just say that! Out loud in the room! And boom, it’s now on your TV. This is pure magic. You can group multiple Google Homes as a single speaker system, so they all play the same thing simultaneously. You can use the popular If This, Then That (IFTT) website to create new commands of your own—and you can create wordings of your own (“Turn off all the lights”). With Amazon, you must goofily say “Alexa, trigger ‘Turn off all the lights.’” In general, most of the Alexa add-on commands are clunkier that way. If you have a Harmony universal remote, for example, you can just say “OK Google, turn on the TV.” But if you have an Echo, you have to say, “Alexa, trigger ‘Turn on the TV.’” Google Home can walk you through any of 5 million recipes from Bon Appetite, The New York Times, Food Network and so on. You say, “OK Google, next step,” and she speaks the next step in the instructions. Multi-person recognition . As you know. (Obviously, this feature won’t remain a Google exclusive for long. If Amazon isn’t working on its own similar feature, I’ll eat my hat.) Of course, there are Google Home limitations, too. You can’t create reminders or To Do lists by voice (you can on the Amazon). The Amazon can order products (from Amazon) and read Audible e-books; the Google can’t. Google Home is also bizarrely disconnected from Google’s own services. You can’t get it to read your Gmail aloud, or change or add calendar appointments by voice. There’s no integration with Google Docs, and no ability to supply Google Maps driving instructions or send them to your phone. And, of course, the Google Home costs $130. That’s cheaper than the full-size Amazon Echo ($180), but not as cheap as the compact Echo Dot ($50), which does exactly the same things but doesn’t have as rich-sounding a speaker. Multi-person But never mind all that. Because it can now determine who’s speaking (usually), the Google Home just got scarily smarter—and knowing your preferred music, calendar, shopping list, and preferences is only the tip of the iceberg. This feature could be the gateway to a whole universe of useful features. You could say, “turn off my bedroom lights,” and it’ll know whose bedroom. You can say, “where’s my phone?”, and it’ll ping your phone under the couch. You can say, “Send flowers to my wife,” and it’ll know whose wife. Which could, you know, kind of matter. So: Well done, Google. Your move, Amazon. More from David Pogue: Inside the World’s Greatest Scavenger Hunt: Part I Inside the World’s Greatest Scavenger Hunt: Part 2 The David Pogue Review: Windows 10 Creators Update Now I get it: Bitcoin David Pogue tested 47 pill-reminder apps to find the best one David Pogue’s search for the world’s best air-travel app The little-known iPhone feature that lets blind people see with their fingers David Pogue, tech columnist for Yahoo Finance, welcomes nontoxic comments in the comments section below. On the web, he’s davidpogue.com . On Twitter, he’s @pogue . On email, he’s poguester@yahoo.com. You can read all his articles here , or you can sign up to get his columns by email . || The Google Home is the first voice assistant to know who's talking: You probably know what the Amazon Echo ( AMZN ) is, right? It’s the tall black cylinder that serves as a Siri for your home ( here’s my review ). From across the room, it can understand and field a huge number of queries—weather, sports, movies, facts—and connect to a huge number of services and home-automation products (Nest, Uber, Domino’s Pizza, etc.). A few months back, Google ( GOOG , GOOGL ), without a trace of shame, released its own, nearly identical cylinder, called Google Home ($130). Since Amazon had a five-year head start, it has remained the more capable cylinder. But last month, Google introduced a new feature that changes the game so much , it’s practically a different sport: Person recognition. That is, the Google Home now knows who is speaking, and can deliver the answer based on that person’s calendar, work commute, music playlists, Uber account, and so on. (It can distinguish up to six people in a household.) Training the thing to recognize a new voice is as simple as saying “OK Google” and “Hey Google” twice each into the companion phone app. Now, there are some important footnotes to this business—more on that in a moment. But in theory, here’s what multi-voice recognition is supposed to get you: “Hey Google, what’s next on my calendar?” It speaks your next appointment. (Requires, of course, that you keep your agenda on Google Calendar.) “OK Google, play my Relax playlist.” It begins to play the corresponding playlist from your Spotify, YouTube Music, Pandora, or Google Music account. “Hey Google: Add cranberry juice to my shopping list.” It adds that item to your shopping list, as maintained on Google Keep. “Hey Google, how does my commute look?” It speaks the current travel time to your place of work, based on current traffic conditions. (Requires that you’ve entered your home and work addresses in the app.) “OK Google: Give me the news.” It plays the latest news report from your preferred news source (NPR, for example). “OK Google, call me an Uber.” Summons the nearest Uber driver, using your Uber account. When you play a podcast, the Google Home remembers where you left off. The recommendation engines for services like YouTube and Spotify now keep everybody’s consumption habits separate, so your trash-action-movie habits don’t pollute your wife’s chick-flick history. Story continues In fact, Google says that all add-on features (third-party voice commands that Google calls Services and Amazon calls Skills) are automatically speaker-recognizing. They all store each family member’s history and preferences separately. Person recognition in practice All of that is the theory. In practice, there are a few problems left to solve. The first one is that the recognition just doesn’t work all the time. Too often, the Home responds by saying, “I wasn’t able to verify your voice.” She recommends that you re-train your voice. Actually, you’re lucky if she says that. In some cases, she doesn’t even let you know that she can’t identify you; instead, she just treats you as a guest, and you’ll never know what went wrong. Here’s what I mean: For days, I tried to get the shopping-list feature to work. “Add shaving cream to my shopping list,” I’d say—and that would work. Then my assistant Jan would try it. “Add peanut butter to my shopping list”—but it would add peanut butter to my shopping list, alongside the shaving cream. An emailed cry for help to Google revealed the answer: The company believes that most households maintain a single shopping list. So until you change your settings, everybody’s requests get dumped onto one common list. (To enable separate shopping lists, people 2, 3, 4, 5, and 6 must open the Google Home app, create a new shopping list, and designate it as their Primary lists.) But even then it still might not work. If Google Home doesn’t recognize the speaker, she doesn’t say “I wasn’t able to verify the voice.” Instead, she dumps the shopping-list item onto the first person’s list. Baffling. I kept running into a similar problem with music. If you say, “Play my Party playlist,” Google Home starts playing soft jazz, which is what’s in your Spotify Party playlist. But if your teenager says “Play my Party playlist,” it doesn’t start playing his headbanger heavy-metal; it plays your soft jazz. Here again, that happens when Google Home isn’t sure who’s speaking. Instead of telling you, she just starts playing the first person’s music. How to fix the not-recognizing If you find that Google Home keeps not recognizing you, you’re supposed to open the app and repeat the “Hey Google”/”OK Google” training business. Two problems. First, it’s ridiculously hard to find that place in the app. (Hint: Tap the Menu icon in top left; tap More Settings; tap Shared Devices; tap “Teach it your voice again.”) Second problem: What Google doesn’t make clear is that you’re not re-training Google Home; you’re providing additional training. I had assumed that my new “Hey Google/OK Google” recordings would replace the original ones. But in fact, Google says, the more times you do this, the more accurate she’ll get. So maybe there’s hope for this voice-differentiation thing after all. Google vs. Amazon Most head-to-head comparisons of the Google Home and the Amazon Echo declare Amazon the winner, primarily because it does so many more things. It controls far more home-automation devices (“Alexa, make the downstairs two degrees cooler,” “Alexa, turn off the bedroom lights,” etc.). And software companies have created at least 7,000 Skills (add-on commands)—far more than the puny 215 available for Google. I have to say, though: Even though Amazon’s ecosystem puts Google’s to shame, its technology is not as good. Some examples: You can’t use any of Amazon’s Skills (add-on commands) until you open the app, find the one you want in a list, and turn it on manually. All of Google’s Services are ready and waiting to use at any time. Google Home communicates with Google Chromecast, a $35 dongle that plugs into your TV. You can say, “OK Google, play John Oliver on TV,” or “Hey Google, turn on subtitles,” or “OK Google, turn on Netflix.” Just say that! Out loud in the room! And boom, it’s now on your TV. This is pure magic. You can group multiple Google Homes as a single speaker system, so they all play the same thing simultaneously. You can use the popular If This, Then That (IFTT) website to create new commands of your own—and you can create wordings of your own (“Turn off all the lights”). With Amazon, you must goofily say “Alexa, trigger ‘Turn off all the lights.’” In general, most of the Alexa add-on commands are clunkier that way. If you have a Harmony universal remote, for example, you can just say “OK Google, turn on the TV.” But if you have an Echo, you have to say, “Alexa, trigger ‘Turn on the TV.’” Google Home can walk you through any of 5 million recipes from Bon Appetite, The New York Times, Food Network and so on. You say, “OK Google, next step,” and she speaks the next step in the instructions. Multi-person recognition . As you know. (Obviously, this feature won’t remain a Google exclusive for long. If Amazon isn’t working on its own similar feature, I’ll eat my hat.) Of course, there are Google Home limitations, too. You can’t create reminders or To Do lists by voice (you can on the Amazon). The Amazon can order products (from Amazon) and read Audible e-books; the Google can’t. Google Home is also bizarrely disconnected from Google’s own services. You can’t get it to read your Gmail aloud, or change or add calendar appointments by voice. There’s no integration with Google Docs, and no ability to supply Google Maps driving instructions or send them to your phone. And, of course, the Google Home costs $130. That’s cheaper than the full-size Amazon Echo ($180), but not as cheap as the compact Echo Dot ($50), which does exactly the same things but doesn’t have as rich-sounding a speaker. Multi-person But never mind all that. Because it can now determine who’s speaking (usually), the Google Home just got scarily smarter—and knowing your preferred music, calendar, shopping list, and preferences is only the tip of the iceberg. This feature could be the gateway to a whole universe of useful features. You could say, “turn off my bedroom lights,” and it’ll know whose bedroom. You can say, “where’s my phone?”, and it’ll ping your phone under the couch. You can say, “Send flowers to my wife,” and it’ll know whose wife. Which could, you know, kind of matter. So: Well done, Google. Your move, Amazon. More from David Pogue: Inside the World’s Greatest Scavenger Hunt: Part I Inside the World’s Greatest Scavenger Hunt: Part 2 The David Pogue Review: Windows 10 Creators Update Now I get it: Bitcoin David Pogue tested 47 pill-reminder apps to find the best one David Pogue’s search for the world’s best air-travel app The little-known iPhone feature that lets blind people see with their fingers David Pogue, tech columnist for Yahoo Finance, welcomes nontoxic comments in the comments section below. On the web, he’s davidpogue.com . On Twitter, he’s @pogue . On email, he’s poguester@yahoo.com. You can read all his articles here , or you can sign up to get his columns by email . || 10 things you need to know before the opening bell: North Korea missile launch (People watch a TV broadcasting of a news report on North Korea's missile launch, at a railway station in Seoul, South Korea.Reuters/Kim Hong-Ji) Here is what you need to know. Congress has a budget deal . The deal, which has bi-partisan support, will fund the government through September 30, Reuters says. It must still be approved by both the House and the Senate. China's manufacturing slows . China's manufacturing PMI slowed to 51.2 in April, its weakest in six months, Reuters says, citing data from the National Bureau of Statistics. The latest French election poll shows Macron with a comfortable lead . Centrist Emmanuel Macron holds a 61% to 39% lead over far-right candidate Marine Le Len, according to a tweet by Bloomberg Paris Bureau Chief Geraldine Amiel, citing an Opinionway poll released on Monday. Macau gaming revenue jumps . Revenue jumped 16.3% to 20.2 billion patacas ($2.52 billion), coming in at the upper range of the 13% to 17% growth that analysts were expecting, Reuters says. Bitcoin soars to an all-time high. The cryptocurrency hit an all-time high of $1,422.68 a coin early Monday. Currently, it's up $49, or 3.8%, near $1,354 a coin. Bloomberg and Twitter are teaming up for a streaming news . The two companies have hammered out a deal for a 24 hours a day, seven days a week, streaming news service that will be broadcast on Twitter, the Wall Street Journal reports. 21st Century Fox and Blackstone are reportedly trying to team up to buy Tribune . Details of the attempted bid, which was first reported by the Financial Times, are unknown. Stock markets around much of the world are closed for Labor Day . The S&P 500 is set to open down 0.2% near 2,384. Earnings reports flow. Dish and Loews report ahead of the opening bell while AMD and Texas Roadhouse are among the names releasing their quarterly results after market close. US economic data is moderate. Personal income and spending will be released at 8:30 a.m. ET before Markit US manufacturing and ISM manufacturing cross the wires at 9:45 a.m. ET and 10 a.m. ET, respectively. The US 10-year yield is up 2 basis points at 2.30%. More From Business Insider Tesla just delayed the roll-out of its solar roof — here's everything we know about the project so far Montel Williams reveals how smoking marijuana every day for 17 years changed his life Verizon and AT&T both launched misleading services this week — and it points to a larger problem View comments || 10 things you need to know before the opening bell: (People watch a TV broadcasting of a news report on North Korea's missile launch, at a railway station in Seoul, South Korea.Reuters/Kim Hong-Ji)
Here is what you need to know.
Congress has a budget deal.The deal, which has bi-partisan support, will fund the government through September 30, Reuters says. It must still be approved by both the House and the Senate.
China's manufacturing slows.China's manufacturing PMI slowed to 51.2 in April, its weakest in six months, Reuters says, citing data from the National Bureau of Statistics.
The latest French election poll shows Macron with a comfortable lead.Centrist Emmanuel Macron holds a 61% to 39% lead over far-right candidate Marine Le Len, according to a tweet by Bloomberg Paris Bureau Chief Geraldine Amiel, citing an Opinionway poll released on Monday.
Macau gaming revenue jumps.Revenue jumped 16.3% to20.2 billion patacas ($2.52 billion), coming in at the upper range of the 13% to 17% growth that analysts were expecting, Reuters says.
Bitcoin soars to an all-time high.The cryptocurrency hit an all-time high of $1,422.68 a coin early Monday. Currently, it's up $49, or 3.8%, near $1,354 a coin.
Bloomberg and Twitter are teaming up for a streaming news.The two companies have hammered out a deal for a24 hours a day, seven days a week, streaming news service that will be broadcast on Twitter, the Wall Street Journal reports.
21st Century Fox and Blackstone are reportedly trying to team up to buy Tribune.Details of the attempted bid, which was first reported by the Financial Times, are unknown.
Stock markets around much of the world are closed for Labor Day.The S&P 500 is set to open down 0.2% near 2,384.
Earnings reports flow.Dish and Loews report ahead of the opening bell while AMD and Texas Roadhouse are among the names releasing their quarterly results after market close.
US economic data is moderate.Personal income and spending will be released at 8:30 a.m. ET before Markit US manufacturing and ISM manufacturing cross the wires at 9:45 a.m. ET and 10 a.m. ET, respectively. The US 10-year yield is up 2 basis points at 2.30%.
More From Business Insider
• Tesla just delayed the roll-out of its solar roof — here's everything we know about the project so far
• Montel Williams reveals how smoking marijuana every day for 17 years changed his life
• Verizon and AT&T both launched misleading services this week — and it points to a larger problem || Bitcoin Hits New All-Time High: A year ago, one Bitcoin could be had for about $450. On Thursday, the cryptocurrency peaked at just over $1,340, as measured by theCoindesk price index, before retrenching slightly to $1318 by this morning. That’s still a return of nearly 200%.
Bitcoin has seen a remarkably steady rise since early 2016, fueled by globalregulatory normalization, broad interest in the technology fromenterprises and banks, and rising transaction volumes. Cryptocurrency analysts, according to Coindesk, think the trendwill continue, citing among other factors that most Bitcoin investors are long-term bulls who will take profits conservatively.
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But the very transaction volume that is Bitcoin’s key fundamental also presents a serious medium-term threat, as the system has struggled to keep up. Transaction speeds have become impractical for merchant payments, and fees have risen, making the system less competitive with conventional payment systems such as credit cards. Struggles over how to fix the problem have raisedthe spectre of a network split-though that could, at least theoretically, give holders additional value in a manner akin to a stock split.
Bitcoin had a notable previous peak of around $979 way back in November of 2013 (Coindesk’s number seems conservative here-Coinmarketcaprecords a 2013 peak of $1149). That push was fueled by a wave of mainstream media attention, but prices slumped through 2015 on the realization that the tech’s promise would take some time to fulfill, dipping as low as $204 that August.
This article was originally published on FORTUNE.com || Bitcoin Hits New All-Time High: A year ago, one Bitcoin could be had for about $450. On Thursday, the cryptocurrency peaked at just over $1,340, as measured by theCoindesk price index, before retrenching slightly to $1318 by this morning. That’s still a return of nearly 200%.
Bitcoin has seen a remarkably steady rise since early 2016, fueled by globalregulatory normalization, broad interest in the technology fromenterprises and banks, and rising transaction volumes. Cryptocurrency analysts, according to Coindesk, think the trendwill continue, citing among other factors that most Bitcoin investors are long-term bulls who will take profits conservatively.
Get Data Sheet,Fortune’stechnology newsletter.
But the very transaction volume that is Bitcoin’s key fundamental also presents a serious medium-term threat, as the system has struggled to keep up. Transaction speeds have become impractical for merchant payments, and fees have risen, making the system less competitive with conventional payment systems such as credit cards. Struggles over how to fix the problem have raisedthe spectre of a network split-though that could, at least theoretically, give holders additional value in a manner akin to a stock split.
Bitcoin had a notable previous peak of around $979 way back in November of 2013 (Coindesk’s number seems conservative here-Coinmarketcaprecords a 2013 peak of $1149). That push was fueled by a wave of mainstream media attention, but prices slumped through 2015 on the realization that the tech’s promise would take some time to fulfill, dipping as low as $204 that August.
This article was originally published on FORTUNE.com || Bitcoin Hits New All-Time High: A year ago, one Bitcoin could be had for about $450. On Thursday, the cryptocurrency peaked at just over $1,340, as measured by the Coindesk price index , before retrenching slightly to $1318 by this morning. Thats still a return of nearly 200%. Bitcoin has seen a remarkably steady rise since early 2016, fueled by global regulatory normalization , broad interest in the technology from enterprises and banks , and rising transaction volumes. Cryptocurrency analysts, according to Coindesk, think the trend will continue , citing among other factors that most Bitcoin investors are long-term bulls who will take profits conservatively. Get Data Sheet , Fortune s technology newsletter. But the very transaction volume that is Bitcoins key fundamental also presents a serious medium-term threat, as the system has struggled to keep up. Transaction speeds have become impractical for merchant payments, and fees have risen, making the system less competitive with conventional payment systems such as credit cards. Struggles over how to fix the problem have raised the spectre of a network split -though that could, at least theoretically, give holders additional value in a manner akin to a stock split. Bitcoin had a notable previous peak of around $979 way back in November of 2013 (Coindesks number seems conservative here- Coinmarketcap records a 2013 peak of $1149). That push was fueled by a wave of mainstream media attention, but prices slumped through 2015 on the realization that the techs promise would take some time to fulfill, dipping as low as $204 that August. This article was originally published on FORTUNE.com || Inside the world's greatest scavenger hunt, Part 3: GISHWHES stands for theGreatest International Scavenger Hunt the World Has Ever Seen. Teams of 15 have one week to complete a list of 200 difficult, charitable, or hilarious tasks. They prove they’ve completed each item by submitting a photo or video of it; their $20 entry fees go to a charity, and the winning team gets a trip to an exotic location.
This is Part 3 of our five-part report on the hunt.
Part 1•Part 2• Part 3 •Part 4•Part 5
Each August, as the world’s largest scavenger hunt is under way, the general public is usually unaware—except when teams perform their tasks in public places. Recent tasks have included:
• Hug someone you love, motionless, in a very crowded location, for 20 minutes without moving—and time-lapse it.
• Stand in a crowded public place. Ask people to sign a petition to Save The Endangered Unicorns.
• Get everyone on a subway, bus, or train car to sing “Over the River and Through the Woods.” There must be at least 8 passengers (random commuters, not your friends).
But each year, the list also includes challenges to perform acts of kindness. For example:
• Write and mail a thank-you letter to a teacher or mentor from your past that you never sufficiently thanked.
• Have a tea party with a special-needs child or pediatric cancer patient, dressed as a character from “Alice in Wonderland.”
• More than 10% of veterans returning from war suffer post-traumatic stress syndrome. Post an image of you next to an armed serviceman, with you holding up a sign with a message of gratitude to them and soldiers worldwide.
But for hunt creator Misha Collins (a star of the WB series “Supernatural”), neither GISHWHES nor acting were part of his life’s original master plan.
“[After college,] my objective was to go to law school and somehow try to make a positive impact on the world,” he says. “I thought probably the best way to do that was to go into politics. This was, you know, my 20-year-old brain.
“I was interning at the White House, but I just didn’t love the machine that I saw. I was very naive. I was exposed to this weird environment of, like, nepotism and yea-saying that I wasn’t inspired by.”
So he switched paths.
“I had this great get-rich-quick/make-an-impact scheme: ‘I’ll just go to Hollywood and I’ll become an actor and I’ll get famous enough that I can then leverage that celebrity into doing things.’”
Off he went to Los Angeles. “I thought, like, I’d be the next Leonardo DiCaprio in a couple of months. It took me 10 years to get on a TV show.
“And once I’d achieved a certain modicum of, you know, C-list celebrity, that desire to try to use my celebrity for some other purpose resurfaced.”
GISHWHES was born: a list littered with acts of kindness that tens of thousands of players attempt to fulfill every August.
In the most recent hunt, item 175 is a perfect example:
“#175.According to the United Nations, 4.8 million people have fled Syria since the civil war began in 2011. Many of these families are living in tent cities with few resources and difficult lives. Let’s change the lives of one family that’s in particularly dire circumstances. The GISHWHES Item is to create a fundraising page for your team, where family, friends and others can donate.”
“We identified one particular family with a heartbreaking story. The mom had been shot in the spine tending to her garden. She was paralyzed, she’s been in a bed in this tent for two years. And we said, let’s just change this one family’s circumstances,” Collins says. “Let’s get them a house, and let’s get her medical care, and let’s pay for the kids’ school. And I woke up the next morning to see, oh my god!”
By week’s end, GISHWHES teams had raised close to $250,000.
“So we added another family, and another and another—by the end of the hunt, we materially changed the lives of four different families. We’ve been getting photos from these families, like them moving into their apartments that we just paid for. It’s just such a lovely thing to be a part of.”
For Team Raised From Perdition, though, there are 174 other items to complete if they hope to win.
My daughter, Tia, also participated in GISHWHES. Several days have passed sinceshe launched a weather balloon into space, bearing a child’s note to the universe. It came down into a nearly inaccessible Connecticut forest; she’s unable to retrieve it even after hours of searching. Item 175 is worth more points than anything else in the hunt; for her team, it will have to be marked “incomplete.”
But teammate Christine has no intention of giving up on the balloon’s precious footage. She tells Tia that she’ll just drive over to the forest to help look for it.
From Chicago.
Fifteen hours later, she, her husband Vince, and their children arrive, laden with gear. After hours of shaking, throwing things at, and yanking at trees, Christine’s 13-year-old son Josh climbs the tree. After an hour and a half, he dislodges the balloon. Item 175 is in the can!
Not everything on the GISHWHES list is as exasperating as lost space balloons. Item 15, for example, sounds like fun:
#15. This is the final showdown between the Haves and the Have-nots. Show up at Dolores Park in San Francisco, dressed either as executives or in blue-collar apparel. At exactly 12:10 PM, the ultimate water balloon battle will ensue.
Nearly a thousand Gishers show up. They stand in two long lines, facing off across the park. They’ve taken the day off from work, driven for hours, even flown to San Francisco for this battle.
At the stroke of noon, GISHWHES volunteer Tone Rawlings raises her megaphone, ready to announce the open-fire.
But at that moment, a San Francisco park ranger runs onto the field.
Ranger: “Hold on! Hold on! You can’t do this! Not without a permit! Anytime you have X amount of people in a park, you have to have a permit.”
“This is like a 10-minute situation for charity,” Tone pleads. “It’s a flash-mob type situation.”
“Yeah, you guys can’t do it without a permit.” (A CBS News camera picked up the audio.)
The two armies can’t hear this, but they see that there’s a problem. It’s not the first time that GISHWHES stunts have tested the patience of society’s overseers.
Will they be deprived of their balloon battle because of paperwork?
Suddenly, a second park manager arrives.
Incredibly, he’s persuaded. “Here’s the thing,” he says. “You have enough people to get this cleaned up?”
“I will personally guarantee it,” Tone says.
“You should have a permit. But if you can make an announcement like that, and get everyone to agree, then OK.”
Tone lifts her megaphone.
“I know and you know that you guys are going to be responsible for these pieces of balloon when this fight is over! Is that right?”
The crowd roars in agreement.
“This can’t happen…unless you guys repeat after me: I solemnly pledge to pick up every last piece of balloony plastic thing on the ground! And I will throw it all away in the proper receptacles!”
The crowd roars.
“Haves and Have-Nots… Commence the water-balloon melee!”
The battle is on.
This time, at least, the forces of merry mayhem win the day.
Part 1•Part 2• Part 3 •Part 4•Part 5
More from David Pogue:
Inside the World’s Greatest Scavenger Hunt: Part I
Inside the World’s Greatest Scavenger Hunt: Part 2
The David Pogue Review: Windows 10 Creators Update
Now I get it: Bitcoin
David Pogue tested 47 pill-reminder apps to find the best one
David Pogue’s search for the world’s best air-travel app
The little-known iPhone feature that lets blind people see with their fingers
David Pogue, tech columnist for Yahoo Finance, welcomes nontoxic comments in the comments section below. On the web, he’sdavidpogue.com. On Twitter, he’s@pogue. On email, he’s poguester@yahoo.com. You canread all his articles here, or you can sign up toget his columns by email. || Inside the world's greatest scavenger hunt, Part 3: GISHWHES stands for the Greatest International Scavenger Hunt the World Has Ever Seen . Teams of 15 have one week to complete a list of 200 difficult, charitable, or hilarious tasks. They prove they’ve completed each item by submitting a photo or video of it; their $20 entry fees go to a charity, and the winning team gets a trip to an exotic location. This is Part 3 of our five-part report on the hunt. Part 1 • Part 2 • Part 3 • Part 4 • Part 5 Part 3: GISHWHES for Good Each August, as the world’s largest scavenger hunt is under way, the general public is usually unaware—except when teams perform their tasks in public places. Recent tasks have included: Hug someone you love, motionless, in a very crowded location, for 20 minutes without moving—and time-lapse it. Stand in a crowded public place. Ask people to sign a petition to Save The Endangered Unicorns. Get everyone on a subway, bus, or train car to sing “Over the River and Through the Woods.” There must be at least 8 passengers (random commuters, not your friends). But each year, the list also includes challenges to perform acts of kindness. For example: Write and mail a thank-you letter to a teacher or mentor from your past that you never sufficiently thanked. Have a tea party with a special-needs child or pediatric cancer patient, dressed as a character from “Alice in Wonderland.” More than 10% of veterans returning from war suffer post-traumatic stress syndrome. Post an image of you next to an armed serviceman, with you holding up a sign with a message of gratitude to them and soldiers worldwide. But for hunt creator Misha Collins (a star of the WB series “Supernatural”), neither GISHWHES nor acting were part of his life’s original master plan. “[After college,] my objective was to go to law school and somehow try to make a positive impact on the world,” he says. “I thought probably the best way to do that was to go into politics. This was, you know, my 20-year-old brain. “I was interning at the White House, but I just didn’t love the machine that I saw. I was very naive. I was exposed to this weird environment of, like, nepotism and yea-saying that I wasn’t inspired by.” Story continues So he switched paths. “I had this great get-rich-quick/make-an-impact scheme: ‘I’ll just go to Hollywood and I’ll become an actor and I’ll get famous enough that I can then leverage that celebrity into doing things.’” Off he went to Los Angeles. “I thought, like, I’d be the next Leonardo DiCaprio in a couple of months. It took me 10 years to get on a TV show. “ And once I’d achieved a certain modicum of, you know, C-list celebrity, that desire to try to use my celebrity for some other purpose resurfaced.” GISHWHES was born: a list littered with acts of kindness that tens of thousands of players attempt to fulfill every August. Crowdsourcing for refugees In the most recent hunt, item 175 is a perfect example: “#175. According to the United Nations, 4.8 million people have fled Syria since the civil war began in 2011. Many of these families are living in tent cities with few resources and difficult lives. Let’s change the lives of one family that’s in particularly dire circumstances. The GISHWHES Item is to create a fundraising page for your team, where family, friends and others can donate.” “We identified one particular family with a heartbreaking story. The mom had been shot in the spine tending to her garden. She was paralyzed, she’s been in a bed in this tent for two years. And we said, let’s just change this one family’s circumstances,” Collins says. “Let’s get them a house, and let’s get her medical care, and let’s pay for the kids’ school. And I woke up the next morning to see, oh my god!” By week’s end, GISHWHES teams had raised close to $250,000. “So we added another family, and another and another—by the end of the hunt, we materially changed the lives of four different families. We’ve been getting photos from these families, like them moving into their apartments that we just paid for. It’s just such a lovely thing to be a part of.” The space balloon, continued For Team Raised From Perdition, though, there are 174 other items to complete if they hope to win. My daughter, Tia, also participated in GISHWHES. Several days have passed since she launched a weather balloon into space , bearing a child’s note to the universe. It came down into a nearly inaccessible Connecticut forest; she’s unable to retrieve it even after hours of searching. Item 175 is worth more points than anything else in the hunt; for her team, it will have to be marked “incomplete.” But teammate Christine has no intention of giving up on the balloon’s precious footage. She tells Tia that she’ll just drive over to the forest to help look for it. From Chicago. Fifteen hours later, she, her husband Vince, and their children arrive, laden with gear. After hours of shaking, throwing things at, and yanking at trees, Christine’s 13-year-old son Josh climbs the tree. After an hour and a half, he dislodges the balloon. Item 175 is in the can! The Haves and the Have-Nots Not everything on the GISHWHES list is as exasperating as lost space balloons. Item 15, for example, sounds like fun: #15. This is the final showdown between the Haves and the Have-nots. Show up at Dolores Park in San Francisco, dressed either as executives or in blue-collar apparel. At exactly 12:10 PM, the ultimate water balloon battle will ensue. Nearly a thousand Gishers show up. They stand in two long lines, facing off across the park. They’ve taken the day off from work, driven for hours, even flown to San Francisco for this battle. At the stroke of noon, GISHWHES volunteer Tone Rawlings raises her megaphone, ready to announce the open-fire. But at that moment, a San Francisco park ranger runs onto the field. Ranger: “Hold on! Hold on! You can’t do this! Not without a permit! Anytime you have X amount of people in a park, you have to have a permit.” “This is like a 10-minute situation for charity,” Tone pleads. “It’s a flash-mob type situation.” “Yeah, you guys can’t do it without a permit.” (A CBS News camera picked up the audio.) The two armies can’t hear this, but they see that there’s a problem. It’s not the first time that GISHWHES stunts have tested the patience of society’s overseers. Will they be deprived of their balloon battle because of paperwork? Suddenly, a second park manager arrives. Incredibly, he’s persuaded. “Here’s the thing,” he says. “You have enough people to get this cleaned up?” “I will personally guarantee it,” Tone says. “You should have a permit. But if you can make an announcement like that, and get everyone to agree, then OK.” Tone lifts her megaphone. “I know and you know that you guys are going to be responsible for these pieces of balloon when this fight is over! Is that right?” The crowd roars in agreement. “This can’t happen…unless you guys repeat after me: I solemnly pledge to pick up every last piece of balloony plastic thing on the ground! And I will throw it all away in the proper receptacles!” The crowd roars. “Haves and Have-Nots… Commence the water-balloon melee!” The battle is on. This time, at least, the forces of merry mayhem win the day. Part 1 • Part 2 • Part 3 • Part 4 • Part 5 More from David Pogue: Inside the World’s Greatest Scavenger Hunt: Part I Inside the World’s Greatest Scavenger Hunt: Part 2 The David Pogue Review: Windows 10 Creators Update Now I get it: Bitcoin David Pogue tested 47 pill-reminder apps to find the best one David Pogue’s search for the world’s best air-travel app The little-known iPhone feature that lets blind people see with their fingers David Pogue, tech columnist for Yahoo Finance, welcomes nontoxic comments in the comments section below. On the web, he’s davidpogue.com . On Twitter, he’s @pogue . On email, he’s poguester@yahoo.com. You can read all his articles here , or you can sign up to get his columns by email . || PayPal's strategic risks pay off: Paypal Active Customers (BI Intelligence) This story was delivered to BI Intelligence " Payments Briefing " subscribers. To learn more and subscribe, please click here . PayPal beat analyst expectations and grew its revenue to just under $3 billion, up 19% year-over-year (YoY) in Q1 2017. Those results, which were announced in the firm’s earnings presentation, position PayPal on a strong upward trajectory, particularly as it stretches into new technologies and segments of the financial ecosystem in a move to become an omnipresent player in its users’ lives. The firm is growing, but still managing to increase engagement. PayPal added customers while growing its volume. PayPal added 6 million new customers in Q1, bringing its total to 203 million active users. That’s up from the 4.5 million that it added in the same quarter last year, and puts it on track to add 20 million or more in 2017. The firm also managed to hit $99 billion in total payment volume (TPV), relatively flat sequentially but up from $81 billion last year, marking 25% growth. The firm is growing organically, rather than simply by scale. Customer growth is still outpacing TPV gains, albeit slightly. But customer engagement is growing — average quarterly interactions grew to 32 from 28 last year in Q1 — customers are using PayPal on a more regular basis, gains that could magnify over time. These are strong indicators for PayPal’s health down the line. Since last summer, PayPal has been focusing on scale, rather than on revenue. As an example, the firm has been entering strategic partnerships with issuers, card networks, and other mobile payments players. These partnerships have allowed PayPal to introduce choice for customers and offer more flexibility for users to opt to pay with a credit/debit card, rather than bank accounts, which funded the lion’s share of accounts in the past. That could be more expensive for PayPal, since card-based transactions have higher fees than bank-based transactions. But it’s pleasing and convenient to customers, which could bring its own gains. So far, that risk is paying off. Choice is increasing customer adds while driving up average spend per consumer, while the impact on margins falls safely within expectations. As PayPal continues to build partnerships that help it scale, customer and spend adds could outweigh revenue drags. And that impact could be magnified as the firm expands into new areas, like bill pay, better monetizes services like Venmo, and invests in up-and-coming mobile technology. Story continues Peer-to-peer (P2P) payments, defined as informal payments made from one person to another, have long been a prominent feature of the payments industry. That’s because individuals transfer funds to each other on a regular basis, whether it's to make a recurring payment, reimburse a friend, or split a dinner bill. Cash and checks have historically dominated the P2P ecosystem, and they’re still a popular tool. But as smartphones become a primary computing device, top digital platforms, like Venmo and Google Wallet, have enabled customers to turn away from cash and make those payments digitally with ease. Over the next few years, though overall P2P spend will remain constant, a shift to mobile payments across the board and increased spending power from the digital-savvy younger generation will cause the mobile P2P industry to skyrocket. That poses a problem for firms providing these services, though. Historically, most of these players have taken on mobile P2P at a loss because it’s a low-friction way to onboard users and won’t catch on unless it’s free, or largely free, to consumers. But as it becomes more popular and starts to eat into these firms’ traditional streams of revenue, finding ways to monetize is increasingly important. That could mean moving P2P functionality into more profitable environments, leveraging existing networks of friends to encourage spending, or offering value-added services at a nominal fee. Jaime Toplin, research analyst for BI Intelligence , Business Insider's premium research service, has compiled a detailed report on mobile P2P payments that examines what’s driving this shift to mobile P2P and explains why companies need to find a way to capitalize on it quickly. It discusses how firms can use the tools they have to gain in the P2P space, details several cases, and evaluates which strategies might be the most effective in monetizing these platforms. Here are some key takeaways from the report: Consumers still want mobile P2P services, and they’re turning to them. Individuals pay their peers on a regular basis, and as smartphones are increasingly used as computing devices, these consumers look to such services for fast and easy ways to pay. Monetizing P2P is more important than ever. Initially, P2P was a valuable onboarding tool for companies, and when it was still a small segment, taking it on at little value or a loss didn’t have major implications. But as volume grows and user bases scale fast, finding ways to monetize quickly should be a priority for firms looking to stay ahead. New technology could put some apps ahead of their peers. P2P continues to rely on networks, especially for informal, social transactions. But rather than having a large network, it’s becoming important for firms to understand their user bases and the networks within them. This means that chat apps, and leveraging bot and AI technology, may offer a distinct advantage. In full, the report: Forecasts the growth of the P2P market, and what portion of that will come from mobile channels, through 2021. Explains the factors driving that growth and details why it will come from increased usage, not increased spend per user. Evaluates why mobile P2P isn’t profitable for companies, and details several cases of attempts to monetize. Assesses which of these strategies could be most successful, and what companies need to leverage to succeed in the space. Provides context from other markets to explain shifting trends. Interested in getting the full report? Here are two ways to access it: Subscribe to an All-Access pass to BI Intelligence and gain immediate access to this report and over 100 other expertly researched reports. As an added bonus, you'll also gain access to all future reports and daily newsletters to ensure you stay ahead of the curve and benefit personally and professionally. >> START A MEMBERSHIP Purchase & download the full report from our research store. >> BUY THE REPORT More From Business Insider Fintech could be bigger than ATMs, PayPal, and Bitcoin combined PayPal One Touch hits 50 million users THE MOBILE PAYMENTS REPORT: Market forecasts, consumer trends, and the barriers and benefits that will influence adoption || PayPal's strategic risks pay off: (BI Intelligence)
This story was delivered to BI Intelligence "Payments Briefing" subscribers. To learn more and subscribe, pleaseclick here.
PayPal beat analyst expectations and grew its revenue to just under $3 billion, up 19% year-over-year (YoY) in Q1 2017. Those results, which were announced in the firm’s earnings presentation, position PayPal on a strong upward trajectory, particularly as it stretches into new technologies and segments of the financial ecosystem in a move to become an omnipresent player in its users’ lives.
The firm is growing, but still managing to increase engagement.
• PayPal added customers while growing its volume. PayPal added 6 million new customers in Q1, bringing its total to 203 million active users. That’s up from the 4.5 million that it added in the same quarter last year, and puts it on track to add 20 million or more in 2017. The firm also managed to hit $99 billion in total payment volume (TPV), relatively flat sequentially but up from $81 billion last year, marking 25% growth.
• The firm is growing organically, rather than simply by scale. Customer growth is still outpacing TPV gains, albeit slightly. But customer engagement is growing — average quarterly interactions grew to 32 from 28 last year in Q1 — customers are using PayPal on a more regular basis, gains that could magnify over time.
These are strong indicators for PayPal’s health down the line.
• Since last summer, PayPal has been focusing on scale, rather than on revenue. As an example, the firm has been entering strategic partnerships with issuers, card networks, and other mobile payments players. These partnerships have allowed PayPal to introduce choice for customers and offer more flexibility for users to opt to pay with a credit/debit card, rather than bank accounts, which funded the lion’s share of accounts in the past. That could be more expensive for PayPal, since card-based transactions have higher fees than bank-based transactions. But it’s pleasing and convenient to customers, which could bring its own gains.
• So far, that risk is paying off. Choice is increasing customer adds while driving up average spend per consumer, while the impact on margins falls safely within expectations. As PayPal continues to build partnerships that help it scale, customer and spend adds could outweigh revenue drags. And that impact could be magnified as the firm expands into new areas, like bill pay, better monetizes services like Venmo, and invests in up-and-coming mobile technology.
Peer-to-peer (P2P) payments, defined as informal payments made from one person to another, have long been a prominent feature of the payments industry.
That’s because individuals transfer funds to each other on a regular basis, whether it's to make a recurring payment, reimburse a friend, or split a dinner bill.
Cash and checks have historically dominated the P2P ecosystem, and they’re still a popular tool. But as smartphones become a primary computing device, top digital platforms, like Venmo and Google Wallet, have enabled customers to turn away from cash and make those payments digitally with ease. Over the next few years, though overall P2P spend will remain constant, a shift to mobile payments across the board and increased spending power from the digital-savvy younger generation will cause the mobile P2P industry to skyrocket.
That poses a problem for firms providing these services, though. Historically, most of these players have taken on mobile P2P at a loss because it’s a low-friction way to onboard users and won’t catch on unless it’s free, or largely free, to consumers. But as it becomes more popular and starts to eat into these firms’ traditional streams of revenue, finding ways to monetize is increasingly important. That could mean moving P2P functionality into more profitable environments, leveraging existing networks of friends to encourage spending, or offering value-added services at a nominal fee.
Jaime Toplin, research analyst forBI Intelligence, Business Insider's premium research service, has compileda detailed report on mobile P2P paymentsthat examines what’s driving this shift to mobile P2P and explains why companies need to find a way to capitalize on it quickly. It discusses how firms can use the tools they have to gain in the P2P space, details several cases, and evaluates which strategies might be the most effective in monetizing these platforms.
Here are some key takeaways from the report:
• Consumers still want mobile P2P services, and they’re turning to them. Individuals pay their peers on a regular basis, and as smartphones are increasingly used as computing devices, these consumers look to such services for fast and easy ways to pay.
• Monetizing P2P is more important than ever. Initially, P2P was a valuable onboarding tool for companies, and when it was still a small segment, taking it on at little value or a loss didn’t have major implications. But as volume grows and user bases scale fast, finding ways to monetize quickly should be a priority for firms looking to stay ahead.
• New technology could put some apps ahead of their peers. P2P continues to rely on networks, especially for informal, social transactions. But rather than having a large network, it’s becoming important for firms to understand their user bases and the networks within them. This means that chat apps, and leveraging bot and AI technology, may offer a distinct advantage.
In full, the report:
• Forecasts the growth of the P2P market, and what portion of that will come from mobile channels, through 2021.
• Explains the factors driving that growth and details why it will come from increased usage, not increased spend per user.
• Evaluates why mobile P2P isn’t profitable for companies, and details several cases of attempts to monetize.
• Assesses which of these strategies could be most successful, and what companies need to leverage to succeed in the space.
• Provides context from other markets to explain shifting trends.
Interested in getting the full report? Here are two ways to access it:
1. Subscribe to anAll-Accesspass to BI Intelligence and gain immediate access to this report and over 100 other expertly researched reports. As an added bonus, you'll also gain access to all future reports and daily newsletters to ensure you stay ahead of the curve and benefit personally and professionally. >>START A MEMBERSHIP
2. Purchase & download the full report from our research store. >>BUY THE REPORT
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• THE MOBILE PAYMENTS REPORT: Market forecasts, consumer trends, and the barriers and benefits that will influence adoption || GrubHub shares spike 19% after company reports a surge in active diners: Shares of GrubHub (NYSE: GRUB) spiked as much as 19 percent after it reported a surge in "active diners," a measurement of the food-ordering service's ability to attract new customers. The company recorded a 26 percent jump in active diners for the first quarter, to 8.75 million from 6.97 million a year ago. GrubHub also reported first-quarter profits of 29 cents per share, on revenue of $156.1 million. They both beat analysts' expectations of 24 cents a share on sales of $153 million, according to Thomson Reuters. GrubHub, which also owns the delivery brands Seamless and Allmenus, connects diners and restaurants through online platforms and apps. Users order food through GrubHub and have it delivered directly by the restaurant. "More new diners tried Grubhub than ever before in the first quarter," said CEO Matt Maloney in a statement. Active diner growth indicates GrubHub's ability to bring on new users, said equity analyst Brian Nowak in a January CNBC report . The company competes against Amazon.com (NASDAQ: AMZN) 's Prime Now service, Yelp's (NYSE: YELP) Eat24, and Uber's UberEATS. The stock closed up 22 percent on Thursday. GrubHub shares 1-day performance More From CNBC Bitcoin jumps to a new all-time high above $1,300 Trumps tax plan may reignite one of the most popular trades of the bull market This chart reveals economists may be overestimating the 'Trump bump' || GrubHub shares spike 19% after company reports a surge in active diners: Shares of GrubHub(NYSE: GRUB)spiked as much as 19 percent after it reported a surge in "active diners," a measurement of the food-ordering service's ability to attract new customers.
The company recorded a 26 percent jump in active diners for the first quarter, to 8.75 million from 6.97 million a year ago.
GrubHub also reported first-quarter profits of 29 cents per share, on revenue of $156.1 million. They both beat analysts' expectations of 24 cents a share on sales of $153 million, according to Thomson Reuters.
GrubHub, which also owns the delivery brands Seamless and Allmenus, connects diners and restaurants through online platforms and apps. Users order food through GrubHub and have it delivered directly by the restaurant.
"More new diners tried Grubhub than ever before in the first quarter," said CEO Matt Maloney in a statement. Active diner growth indicates GrubHub's ability to bring on new users, said equity analyst Brian Nowakin a January CNBC report.
The company competes against Amazon.com(NASDAQ: AMZN)'s Prime Now service, Yelp's(NYSE: YELP)Eat24, and Uber's UberEATS.
The stock closed up 22 percent on Thursday.
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• This chart reveals economists may be overestimating the 'Trump bump' || Is This Tiny European Nation a Preview of Our Tech Future?: On a Spring afternoon, I’m gazing out the window of an office building on the outskirts of Estonia’s capital, Tallinn, watching people stroll below, when a cream-colored plastic container mounted on black wheels rounds the corner and begins maneuvering its way among the pedestrians. The device looks like a kid’s toy. But in reality it’s a high-tech delivery robot called Starship and potentially the next mega-profitable invention to spring from this snowy, miniature country on the northern edge of Europe-one of the more unexpected launching pads on the planet. “If you look at sci-fi movies set 20 years from now, you don’t see people carrying their groceries. Robots just arrive at their homes,” says Ahti Heinla, cofounder and CEO of Starship Technologies. Reality, he says, has caught up to sci-fi. “About two years ago we realized it was possible to create this part of the future right now.” For a snapshot of how we might all be living tomorrow, there are few better places to visit than this picturesque city of 400,000, whose winding medieval alleyways offer an elegant contrast to its digital present. Creating the future now, as Heinla puts it, is Estonia’s driving project, and increasingly it is its core business too. Fortune Magazine Most Americans or even Europeans would be unable to find this pinprick on a map, squeezed between its small Baltic Sea neighbor Latvia and mammoth Russia. Its population, just 1.3 million, is about the same as Dallas or the Bronx borough of New York City. But its modest size and remoteness belies its clout. It is here that a group of friends, including Heinla, invented the hugely popular Internet calling platform Skype. Given Estonia’s history, the invention of Skype in this country was ironic. While Americans were buying their first cell phones, about a quarter-century ago, Estonians were shut off from the world as an outpost of the Soviet Union. You could easily wait 10 years to be assigned a landline phone. By the time the Soviet Union imploded in 1991, the country was in a time warp. “We did not have anything,” says Gen. Riho Terras, the commander of Estonia’s armed forces, who had been a student activist at the time. The country had to reboot from zero. Terras says each citizen was given the equivalent of 10 euros, or $10.60. “That was it,” he says, laughing. “We started from 10 euros each.” Story continues One generation on, Estonia is a time warp of another kind: a fast-forward example of extreme digital living. For the rest of us, Estonia offers a glimpse into what happens when a country abandons old analog systems and opts to run completely online instead. That notion is not fanciful. In various forms, governments across the world, including those in Singapore, Japan, and India, are trying to determine how dramatically they can transform themselves into digital entities in order to cut budgets and streamline services (and for some, keep closer tabs on citizens). Estonia claims its online systems add 2% a year to its GDP. Starship Technologies CEO Ahti Heinla shows off one of his company’s delivery robots. Heinla was part of the team that created Skype, founded in Estonia in 2003.Photograph by Piotr Malecki-Panos Pictures for Fortune The moment I land in Tallinn, my phone pings with the city’s free Wi-Fi network, which rolled out more than 15 years ago. But the extreme-digital life of regular Estonians is far less visible. At birth, every person is assigned a unique string of 11 digits, a digital identifier that from then on is key to operating almost every aspect of that person’s life-the 21st-century version of a Social Security number. The all-digital habits begin young: Estonian children learn computer programming at school, many beginning in kindergarten. In 2000, Estonia became the first country in the world to declare Internet access a basic human right-much like food and shelter. That same year it passed a law giving digital signatures equal weight to handwritten ones. That single move created an entire paperless system. Since no one was required to sign with a pen, there was no need for paper documents to pay taxes, open a bank account, obtain a mortgage, pick up a prescription, or perform most of life’s other tasks, other than marrying and divorcing. “I established my company in about 20 minutes, without going anywhere,” says Kaidi Ruusalepp, 41, CEO of Funderbeam, an investment trading platform for early-stage, non-IPO startups, which she founded in 2013. “We never visited the tax board, the Social Security agency, anything,” she says. “Everything is online.” Kaidi Ruusalepp, founder and CEO of startup Funderbeam, at her company’s offices in Tallinn.Photograph by Piotr Malecki-Panos Pictures for Fortune So, too, are Estonians’ taxes. Almost all Estonians file taxes online-within minutes. Since public registries are all linked in one system, Estonians can log in to prefilled tax declarations showing their income, property, number of children, and so on. They make necessary tweaks and hit the send button. (Outside the U.S., this type of approach is increasingly common.) Last year thenPrime Minister Taavi Rõivas earned loud cheers on The Daily Show when he described to host Trevor Noah how he had filed his taxes on his iPad during a few idle minutes in the Luxembourg Airport. When I visit Rõivas, 37, in his office in the Estonian Parliament, it’s weirdly devoid of paper. He says during nearly three years as Prime Minister the only time he signed his name in ink was in ceremonial guest books. Theoretically, he says, the government could issue an online order to send troops into battle. “I never signed any law physically,” he says. “Never.” Estonians were also first to be able to vote online in elections, back in 2005. When I ask Estonian President Kersti Kaljulaid where she voted in last November’s elections, which brought her to power, she responds as if my question is dumb: “From my computer at home.” Kaljulaid was speaking to me while we were on a boat to Tallinn from Helsinki, in neighboring Finland, where she had just signed a deal allowing the countries to recognize each other’s digital ID cards. Now, for example, Finns and Estonians can visit doctors in the other country and automatically call up their medical records-all stored online. “We have been using digital identifiers for 17 years,” she says. “People have learned to trust the system.” Estonians might take all this tech wizardry for granted now, but the country was on its knees economically after the Soviet collapse. It had one huge advantage: It was starting from scratch. “People were paid in cash,” says Martin Ruubel, 41, president of Guardtime, a 10-year-old software security company that developed the country’s blockchain system (more on that in a moment), sitting in his Tallinn office on the grounds of a converted former military barrack. Since no Estonian had ever had a checkbook, once the Soviets were gone the country simply skipped past pen and paper and issued bank cards. It was a money saver, but had another benefit: It pushed Estonians to get online fast. Martin Ruubel, president of blockchain services company Guardtime, in his company’s offices in Tallinn.Photograph by Piotr Malecki-Panos Pictures for Fortune Scrambling to piece together a country, the new leaders, young and inexperienced, also rapidly privatized the telecom industry. “It was highly successful,” says Mart Laar, 57, who became the first post-Soviet Prime Minister, at age 32, and is now chairman of the board of supervisors for the Bank of Estonia. Since so few people had even landline phones, many simply bought mobile handsets instead. Laar, a historian, says he knew nothing about computers but believed they needed to start with the latest technology. When Finland offered to donate its analog telephone exchange to its poorer neighbor for free, Estonia turned it down. The government recruited Ruusalepp, now Funderbeam’s CEO, as the new country’s first IT lawyer when she was just 20 and still a student. “I had no law degree and no understanding of technology,” she says. Her first task was to create a law for digital signatures, years ahead of many countries. “We wanted to change the country. We had brains, and we just had to shoot,” she says. Those early decisions set the stage for today’s thriving tech scene in Estonia. Skype, founded in Tallinn in 2003, spawned a generation of techies and would-be entrepreneurs. “People thought, If Estonian guys could do something like Skype, I can do it also,” says Andrus Oks of Terra Venture Partners, an investment fund in Tallinn. And when Microsoft bought Skype in 2011 for $8.5 billion, ex-Skypers plowed money into new startups in Tallinn, further attracting U.S. investments. Skype’s founding developers, including Starship’s Heinla, also launched a venture capital fund, called Ambient Sound. “The Skype effect has been enormous,” says Heinla, who started Starship with Skype cofounder Janus Friis; major investors include Daimler A.G., as well as Silicon Valley firms Shasta Ventures and Matrix Partners. Click to enlarge. Now, if you order Chinese takeout through platforms DoorDash or Postmates in Redwood City, Calif., or Washington, D.C., your food might arrive as a Starship test run, with a ping on your mobile phone letting you know your delivery robot is at the door. Starship is also doing test deliveries in Bern, Switzerland, and London, and Domino’s Pizza plans to test some deliveries by Starship soon in Hamburg. The Skype effect does not end there. In 2011, Skype’s first employee, Taavet Hinrikus, cofounded TransferWise, an online money-transfer company, which now occupies four floors of a Tallinn building and handles about $1 billion a month in exchanges around the world. Investors include Andreessen Horowitz and Peter Thiel’s Valar Ventures. A worker scoots through the headquarters of TransferWise, an Estonian online money-transfer company co-founded by Skype’s first employee. TransferWise handles about $1 billion a month in exchanges and its investors include Andreessen Horowitz.Photograph by Piotr Malecki-Panos Pictures for Fortune With hindsight, it seems inevitable that Russia would sooner or later collide with its pint-size former territory, which, aside from becoming a major tech hub, had rushed to join both NATO and the EU after the Soviet collapse. Russia’s payback finally came in 2007-and it would markedly change Estonia. It happened when Estonia’s government decided to move a World War II memorial statue of a Soviet soldier from central Tallinn to a nearby war cemetery. Pro-Russian demonstrators burned barricades and looted stores in days of rioting. Then Estonia’s banks, its Parliament, and several public services suddenly went off-line, in one of the biggest-ever distributed denial-of-service attacks to hit a country. The 2007 cyberattack still haunts Estonia. “We were already really, really dependent on online. We had no paper originals for a lot of things,” says Guardtime’s Ruubel. Estonia believes Russia was behind the attack. Shortly after, the only NATO-accredited cyberdefense center opened in Tallinn. And this year Estonia will open the world’s first “data embassy” in Luxembourg-a storage building to house an entire backup of Estonia’s data that will enjoy the same sovereign rights as a regular embassy but be able to reboot the country remotely, in case of another attack. “It was quite clear after 2007 that we knew how to fight against external attacks,” Ruubel says. “The worry was, What if there was an attack from inside the system, with someone tampering with the data?” Street art on an office building in a Soviet-era industrial section of Tallinn.Photograph by Piotr Malecki-Panos Pictures for Fortune The answer to that concern came in the form of the technology that now underpins crucial parts of Estonia’s system, as well as some of its most successful startups, and that, in the years ahead, could help power the country’s future growth: the blockchain. Essentially a distributed database, a blockchain-the system that also underpins the cryptocurrency Bitcoin-serves as a public ledger that can never be erased or rewritten. The technology allows Estonia’s engineers to strengthen its encrypted data and lets Estonians verify at any time that their information has not been tampered with. Estonians are also required to use two-step verification for many online tasks. These and other security measures, say Estonians, make their system as close to unbreakable as possible. (The U.S. State Department said last year that cybercrime “does not represent a major threat” in Estonia.) They contrast it, for example, to Edward Snowden’s hacking into the NSA, which he continued over 18 months. “No Snowden can crack this system,” boasts President Kaljulaid. Outside the country, however, there are some doubts as to whether the Estonians’ technology is as secure as they claim. In 2014-seven years after the suspected Russian hack-engineers at the University of Michigan studied Estonia’s online-voting system and concluded that determined hackers-such as Russian operatives-could feasibly penetrate it, creating fake votes or altering the totals in order to rig elections “quite possibly without a trace,” they wrote in their report. “Estonia’s system places extreme trust in election servers and voters’ computers-all easy targets for a foreign power,” they said. Estonia disputed the claims, saying that it had worked flawlessly in six elections and that it had “a level of security greater than was possible with paper ballots.” To Estonians, the potential of extreme-digital systems for both governments and businesses is dizzying-and with the blockchain, it has only just begun. Guardtime, which has 150 employees and estimates about $23 million in revenues in 2015, is now among the world’s biggest blockchain companies, with clients around the world, including Lockheed Martin and the U.S. Department of Defense. Funderbeam uses so-called colored coin technology, based on the public Bitcoin blockchain, to keep track of transactions and investments. That eliminates the need for brokers and clearing agents. Children in a coding class in an elementary school in Tallinn.Photograph by Piotr Malecki-Panos Pictures for Fortune Ruusalepp, whose early backers at Funderbeam included the Silicon Valley venture capital investor Tim Draper, says she regularly hears Americans argue that paper records are more secure. Estonians, by contrast, would be aghast to have their medical records in paper folders in doctors’ offices, she says. “You can never see who has looked at your data,” she says. “Blockchain solves the issue of trust.” Those who created Estonia’s system say they believe the arguments raging in the U.S. over data privacy are largely misplaced. The focus should instead be to give people control over who accesses their data, by using blockchain technology. “The real issue is data integrity,” says Toomas Hendrik Ilves, an Estonian-American from Leonia, N.J., who served as Estonia’s President from 2006 until last November, and is now a senior fellow at Stanford University’s Center for International Security and Cooperation and sits on the World Economic Council’s Future of Blockchain group. He says it could take many years for the U.S.’s sprawling agencies to create an Estonian-type blockchain architecture. “I’m smack in the middle of Silicon Valley, at Stanford, and the amount of creativity is amazing,” Ilves says. “But the public sector is lagging way, way, way behind.” Having built perhaps the world’s most seamless digital system, Estonia still faces a major limitation: its size. With just 1.3 million Estonians, it runs like a well-oiled machine. But engineers claim there is vast spare capacity. Built right, the system could work with huge numbers. (The U.S. could in theory reengineer its databases from scratch, say Estonian technologists, and serve 300 million Americans just as well.) To more fully leverage its technological advantage and boost economic growth, Estonia needs more market participants. Taavi Kotka, a software engineer and entrepreneur, dreamed up the concept of virtual “e-residency' after becoming the Estonian government’s chief information officer in 2013.Photograph by Piotr Malecki-Panos Pictures for Fortune Since Estonia had little means for attracting masses of immigrants to its icy Northern European landscape, it came up with a quirky idea-another of its firsts in the world: offering people virtual residency. Taavi Kotka, 38, a software engineer and entrepreneur, dreamed up the concept after becoming the government’s chief information officer in 2013. Kotka wrote a policy paper arguing that the population needed to grow fast, and proposed a target of 10 million people by 2025. Since Estonian women were not about to have 10 babies each, the alternative was to figure out what kind of product the country could offer to the rest of the world. Somewhat like Delaware-based corporations in the U.S., e-residents of Estonia can now run their European operations remotely and do business in euros. “We want to be the office for micro and small companies, because that is basically what our country is,” say Kotka, who now works as a consultant to Estonian startups. “You cannot grow without customers.” Estonia’s first e-residency cards rolled out in December 2014. The microchips inside them are identical to Estonians’ digital ID cards but come without citizens’ rights, like voting or public pensions, and there is no obligation to pay taxes in Estonia. This is no tax haven: Estonia requires that e-residents pay their taxes to whatever country they owe them. But for a fee of 145 euros (about $154) e-residents can register companies in Estonia, no matter where they live, gaining automatic access to the EU’s giant common market-about 440 million once Britain leaves the union. Of about 18,000 e-residents so far, about 1,400 have formed companies in Estonia. On average, each of those companies spends roughly 55 euros (about $58) a month on accounting and office administration in Estonia. Click to enlarge. This year the government doubled its budget for the program and intends on doubling it again in 2018, saying it’s determined to ramp up e-residency numbers quickly. As numbers grow, so too will the business services Estonia offers. Officials have traveled to Tallinn from around the world to examine how to start their own e-residency programs. Kaspar Korjus, managing director of the e-residency program, says his office hosts about 500 delegations a year. “So far the only revenue model for countries is taxes,” he says. “But if we get 10 million e-residents paying $100 a month each, maybe we would not need taxes.” The possibilities do not end there. With its government running on the blockchain, Estonia could in theory begin marketing other inventions as they unfold-creating huge new business. Rõivas, the former Prime Minister, says Estonia is working on developing “precision medicine” that would tap into the genome data of its 1.3 million citizens in order to better diagnose illnesses, treat people, and design personalized drugs. “We can use blockchain to make sure that the data exchanged is able to be traced,” he says. It’s possible to imagine Estonia’s idea becoming a multibillion-dollar business in the years ahead-turning the whole view of government as a bureaucracy offering public services into an entity generating profits. The capital of Estonia is Tallinn, a picturesque city of 400,000 whose winding medieval alleyways offer an elegant contrast to its digital present.Photograph by Piotr Malecki-Panos Pictures for Fortune Perhaps only a place that started over from scratch in 1991 could reimagine the idea of a country. As I watch the Starship robots maneuver across the company’s office in Tallinn, CEO Heinla says he believes Estonians, after decades of living under Soviet rule, were uniquely suited to creating new ways of doing things, including how to run a government. “People grow up and see an establishment they cannot break into,” he says, so Estonians simply built something new, and more efficient. Older, more set in its ways-and more skeptical-the rest of the world has yet to catch up. Just don’t expect Estonia to wait for us. A version of this article appears in the May 1, 2017 issue of Fortune with the headline “Welcome to Tomorrow Land.” This article was originally published on FORTUNE.com || Is This Tiny European Nation a Preview of Our Tech Future?: On a Spring afternoon, I’m gazing out the window of an office building on the outskirts of Estonia’s capital, Tallinn, watching people stroll below, when a cream-colored plastic container mounted on black wheels rounds the corner and begins maneuvering its way among the pedestrians. The device looks like a kid’s toy. But in reality it’s a high-tech delivery robot called Starship and potentially the next mega-profitable invention to spring from this snowy, miniature country on the northern edge of Europe-one of the more unexpected launching pads on the planet. “If you look at sci-fi movies set 20 years from now, you don’t see people carrying their groceries. Robots just arrive at their homes,” says Ahti Heinla, cofounder and CEO of Starship Technologies. Reality, he says, has caught up to sci-fi. “About two years ago we realized it was possible to create this part of the future right now.”
For a snapshot of how we might all be living tomorrow, there are few better places to visit than this picturesque city of 400,000, whose winding medieval alleyways offer an elegant contrast to its digital present. Creating the future now, as Heinla puts it, is Estonia’s driving project, and increasingly it is its core business too.
Most Americans or even Europeans would be unable to find this pinprick on a map, squeezed between its small Baltic Sea neighbor Latvia and mammoth Russia. Its population, just 1.3 million, is about the same as Dallas or the Bronx borough of New York City. But its modest size and remoteness belies its clout. It is here that a group of friends, including Heinla, invented the hugely popular Internet calling platform Skype.
Given Estonia’s history, the invention of Skype in this country was ironic. While Americans were buying their first cell phones, about a quarter-century ago, Estonians were shut off from the world as an outpost of the Soviet Union. You could easily wait 10 years to be assigned a landline phone. By the time the Soviet Union imploded in 1991, the country was in a time warp. “We did not have anything,” says Gen. Riho Terras, the commander of Estonia’s armed forces, who had been a student activist at the time. The country had to reboot from zero. Terras says each citizen was given the equivalent of 10 euros, or $10.60. “That was it,” he says, laughing. “We started from 10 euros each.”
One generation on, Estonia is a time warp of another kind: a fast-forward example of extreme digital living. For the rest of us, Estonia offers a glimpse into what happens when a country abandons old analog systems and opts to run completely online instead. That notion is not fanciful. In various forms, governments across the world, including those in Singapore, Japan, and India, are trying to determine how dramatically they can transform themselves into digital entities in order to cut budgets and streamline services (and for some, keep closer tabs on citizens). Estonia claims its online systems add 2% a year to its GDP.
The moment I land in Tallinn, my phone pings with the city’s free Wi-Fi network, which rolled out more than 15 years ago. But the extreme-digital life of regular Estonians is far less visible. At birth, every person is assigned a unique string of 11 digits, a digital identifier that from then on is key to operating almost every aspect of that person’s life-the 21st-century version of a Social Security number. The all-digital habits begin young: Estonian children learn computer programming at school, many beginning in kindergarten.
In 2000, Estonia became the first country in the world to declare Internet access a basic human right-much like food and shelter. That same year it passed a law giving digital signatures equal weight to handwritten ones. That single move created an entire paperless system. Since no one was required to sign with a pen, there was no need for paper documents to pay taxes, open a bank account, obtain a mortgage, pick up a prescription, or perform most of life’s other tasks, other than marrying and divorcing. “I established my company in about 20 minutes, without going anywhere,” says Kaidi Ruusalepp, 41, CEO of Funderbeam, an investment trading platform for early-stage, non-IPO startups, which she founded in 2013. “We never visited the tax board, the Social Security agency, anything,” she says. “Everything is online.”
So, too, are Estonians’ taxes. Almost all Estonians file taxes online-within minutes. Since public registries are all linked in one system, Estonians can log in to prefilled tax declarations showing their income, property, number of children, and so on. They make necessary tweaks and hit the send button. (Outside the U.S., this type of approach is increasingly common.) Last year thenPrime Minister Taavi Rõivas earned loud cheers onThe Daily Showwhen he described to host Trevor Noah how he had filed his taxes on his iPad during a few idle minutes in the Luxembourg Airport.
When I visit Rõivas, 37, in his office in the Estonian Parliament, it’s weirdly devoid of paper. He says during nearly three years as Prime Minister the only time he signed his name in ink was in ceremonial guest books. Theoretically, he says, the government could issue an online order to send troops into battle. “I never signed any law physically,” he says. “Never.”
Estonians were also first to be able to vote online in elections, back in 2005. When I ask Estonian President Kersti Kaljulaid where she voted in last November’s elections, which brought her to power, she responds as if my question is dumb: “From my computer at home.” Kaljulaid was speaking to me while we were on a boat to Tallinn from Helsinki, in neighboring Finland, where she had just signed a deal allowing the countries to recognize each other’s digital ID cards. Now, for example, Finns and Estonians can visit doctors in the other country and automatically call up their medical records-all stored online. “We have been using digital identifiers for 17 years,” she says. “People have learned to trust the system.”
Estonians might take all this tech wizardry for granted now, but the country was on its knees economically after the Soviet collapse. It had one huge advantage: It was starting from scratch. “People were paid in cash,” says Martin Ruubel, 41, president of Guardtime, a 10-year-old software security company that developed the country’s blockchain system (more on that in a moment), sitting in his Tallinn office on the grounds of a converted former military barrack. Since no Estonian had ever had a checkbook, once the Soviets were gone the country simply skipped past pen and paper and issued bank cards. It was a money saver, but had another benefit: It pushed Estonians to get online fast.
Scrambling to piece together a country, the new leaders, young and inexperienced, also rapidly privatized the telecom industry. “It was highly successful,” says Mart Laar, 57, who became the first post-Soviet Prime Minister, at age 32, and is now chairman of the board of supervisors for the Bank of Estonia. Since so few people had even landline phones, many simply bought mobile handsets instead. Laar, a historian, says he knew nothing about computers but believed they needed to start with the latest technology. When Finland offered to donate its analog telephone exchange to its poorer neighbor for free, Estonia turned it down.
The government recruited Ruusalepp, now Funderbeam’s CEO, as the new country’s first IT lawyer when she was just 20 and still a student. “I had no law degree and no understanding of technology,” she says. Her first task was to create a law for digital signatures, years ahead of many countries. “We wanted to change the country. We had brains, and we just had to shoot,” she says.
Those early decisions set the stage for today’s thriving tech scene in Estonia. Skype, founded in Tallinn in 2003, spawned a generation of techies and would-be entrepreneurs. “People thought, If Estonian guys could do something like Skype, I can do it also,” says Andrus Oks of Terra Venture Partners, an investment fund in Tallinn. And whenMicrosoftbought Skype in 2011 for $8.5 billion, ex-Skypers plowed money into new startups in Tallinn, further attracting U.S. investments. Skype’s founding developers, including Starship’s Heinla, also launched a venture capital fund, called Ambient Sound. “The Skype effect has been enormous,” says Heinla, who started Starship with Skype cofounder Janus Friis; major investors include Daimler A.G., as well as Silicon Valley firms Shasta Ventures and Matrix Partners.
Now, if you order Chinese takeout through platforms DoorDash or Postmates in Redwood City, Calif., or Washington, D.C., your food might arrive as a Starship test run, with a ping on your mobile phone letting you know your delivery robot is at the door. Starship is also doing test deliveries in Bern, Switzerland, and London, and Domino’s Pizza plans to test some deliveries by Starship soon in Hamburg.
The Skype effect does not end there. In 2011, Skype’s first employee, Taavet Hinrikus, cofounded TransferWise, an online money-transfer company, which now occupies four floors of a Tallinn building and handles about $1 billion a month in exchanges around the world. Investors include Andreessen Horowitz and Peter Thiel’s Valar Ventures.
With hindsight, it seems inevitable that Russia would sooner or later collide with its pint-size former territory, which, aside from becoming a major tech hub, had rushed to join both NATO and the EU after the Soviet collapse.
Russia’s payback finally came in 2007-and it would markedly change Estonia. It happened when Estonia’s government decided to move a World War II memorial statue of a Soviet soldier from central Tallinn to a nearby war cemetery. Pro-Russian demonstrators burned barricades and looted stores in days of rioting. Then Estonia’s banks, its Parliament, and several public services suddenly went off-line, in one of the biggest-ever distributed denial-of-service attacks to hit a country. The 2007 cyberattack still haunts Estonia. “We were already really, really dependent on online. We had no paper originals for a lot of things,” says Guardtime’s Ruubel. Estonia believes Russia was behind the attack.
Shortly after, the only NATO-accredited cyberdefense center opened in Tallinn. And this year Estonia will open the world’s first “data embassy” in Luxembourg-a storage building to house an entire backup of Estonia’s data that will enjoy the same sovereign rights as a regular embassy but be able to reboot the country remotely, in case of another attack. “It was quite clear after 2007 that we knew how to fight against external attacks,” Ruubel says. “The worry was, What if there was an attack from inside the system, with someone tampering with the data?”
The answer to that concern came in the form of the technology that now underpins crucial parts of Estonia’s system, as well as some of its most successful startups, and that, in the years ahead, could help power the country’s future growth: the blockchain.
Essentially a distributed database, a blockchain-the system that also underpins the cryptocurrency Bitcoin-serves as a public ledger that can never be erased or rewritten. The technology allows Estonia’s engineers to strengthen its encrypted data and lets Estonians verify at any time that their information has not been tampered with. Estonians are also required to use two-step verification for many online tasks. These and other security measures, say Estonians, make their system as close to unbreakable as possible. (The U.S. State Department said last year that cybercrime “does not represent a major threat” in Estonia.) They contrast it, for example, to Edward Snowden’s hacking into the NSA, which he continued over 18 months. “No Snowden can crack this system,” boasts President Kaljulaid.
Outside the country, however, there are some doubts as to whether the Estonians’ technology is as secure as they claim. In 2014-seven years after the suspected Russian hack-engineers at the University of Michigan studied Estonia’s online-voting system and concluded that determined hackers-such as Russian operatives-could feasibly penetrate it, creating fake votes or altering the totals in order to rig elections “quite possibly without a trace,” they wrote in their report. “Estonia’s system places extreme trust in election servers and voters’ computers-all easy targets for a foreign power,” they said. Estonia disputed the claims, saying that it had worked flawlessly in six elections and that it had “a level of security greater than was possible with paper ballots.”
To Estonians, the potential of extreme-digital systems for both governments and businesses is dizzying-and with the blockchain, it has only just begun. Guardtime, which has 150 employees and estimates about $23 million in revenues in 2015, is now among the world’s biggest blockchain companies, with clients around the world, includingLockheed Martinand the U.S. Department of Defense. Funderbeam uses so-called colored coin technology, based on the public Bitcoin blockchain, to keep track of transactions and investments. That eliminates the need for brokers and clearing agents.
Ruusalepp, whose early backers at Funderbeam included the Silicon Valley venture capital investor Tim Draper, says she regularly hears Americans argue that paper records are more secure. Estonians, by contrast, would be aghast to have their medical records in paper folders in doctors’ offices, she says. “You can never see who has looked at your data,” she says. “Blockchain solves the issue of trust.”
Those who created Estonia’s system say they believe the arguments raging in the U.S. over data privacy are largely misplaced. The focus should instead be to give people control over who accesses their data, by using blockchain technology. “The real issue is data integrity,” says Toomas Hendrik Ilves, an Estonian-American from Leonia, N.J., who served as Estonia’s President from 2006 until last November, and is now a senior fellow at Stanford University’s Center for International Security and Cooperation and sits on the World Economic Council’s Future of Blockchain group. He says it could take many years for the U.S.’s sprawling agencies to create an Estonian-type blockchain architecture. “I’m smack in the middle of Silicon Valley, at Stanford, and the amount of creativity is amazing,” Ilves says. “But the public sector is lagging way, way, way behind.”
Having built perhaps the world’s most seamless digital system, Estonia still faces a major limitation: its size. With just 1.3 million Estonians, it runs like a well-oiled machine. But engineers claim there is vast spare capacity. Built right, the system could work with huge numbers. (The U.S. could in theory reengineer its databases from scratch, say Estonian technologists, and serve 300 million Americans just as well.) To more fully leverage its technological advantage and boost economic growth, Estonia needs more market participants.
Since Estonia had little means for attracting masses of immigrants to its icy Northern European landscape, it came up with a quirky idea-another of its firsts in the world: offering people virtual residency. Taavi Kotka, 38, a software engineer and entrepreneur, dreamed up the concept after becoming the government’s chief information officer in 2013. Kotka wrote a policy paper arguing that the population needed to grow fast, and proposed a target of 10 million people by 2025. Since Estonian women were not about to have 10 babies each, the alternative was to figure out what kind of product the country could offer to the rest of the world. Somewhat like Delaware-based corporations in the U.S., e-residents of Estonia can now run their European operations remotely and do business in euros. “We want to be the office for micro and small companies, because that is basically what our country is,” say Kotka, who now works as a consultant to Estonian startups. “You cannot grow without customers.”
Estonia’s first e-residency cards rolled out in December 2014. The microchips inside them are identical to Estonians’ digital ID cards but come without citizens’ rights, like voting or public pensions, and there is no obligation to pay taxes in Estonia. This is no tax haven: Estonia requires that e-residents pay their taxes to whatever country they owe them. But for a fee of 145 euros (about $154) e-residents can register companies in Estonia, no matter where they live, gaining automatic access to the EU’s giant common market-about 440 million once Britain leaves the union. Of about 18,000 e-residents so far, about 1,400 have formed companies in Estonia. On average, each of those companies spends roughly 55 euros (about $58) a month on accounting and office administration in Estonia.
This year the government doubled its budget for the program and intends on doubling it again in 2018, saying it’s determined to ramp up e-residency numbers quickly. As numbers grow, so too will the business services Estonia offers. Officials have traveled to Tallinn from around the world to examine how to start their own e-residency programs. Kaspar Korjus, managing director of the e-residency program, says his office hosts about 500 delegations a year. “So far the only revenue model for countries is taxes,” he says. “But if we get 10 million e-residents paying $100 a month each, maybe we would not need taxes.”
The possibilities do not end there. With its government running on the blockchain, Estonia could in theory begin marketing other inventions as they unfold-creating huge new business. Rõivas, the former Prime Minister, says Estonia is working on developing “precision medicine” that would tap into the genome data of its 1.3 million citizens in order to better diagnose illnesses, treat people, and design personalized drugs. “We can use blockchain to make sure that the data exchanged is able to be traced,” he says.
It’s possible to imagine Estonia’s idea becoming a multibillion-dollar business in the years ahead-turning the whole view of government as a bureaucracy offering public services into an entity generating profits.
Perhaps only a place that started over from scratch in 1991 could reimagine the idea of a country. As I watch the Starship robots maneuver across the company’s office in Tallinn, CEO Heinla says he believes Estonians, after decades of living under Soviet rule, were uniquely suited to creating new ways of doing things, including how to run a government. “People grow up and see an establishment they cannot break into,” he says, so Estonians simply built something new, and more efficient. Older, more set in its ways-and more skeptical-the rest of the world has yet to catch up. Just don’t expect Estonia to wait for us.
A version of this article appears in the May 1, 2017 issue of Fortune with the headline “Welcome to Tomorrow Land.”
This article was originally published on FORTUNE.com || 10 things you need to know before the opening bell: (Volunteers, members of a primary care response team, huddle together during clashes with security forces at a rally against Venezuela's President Nicolas Maduro in Caracas, Venezuela.Reuters/Carlos Garcia Rawlins)Trump's tax plan is out.
Key details from the plan include lowering the corporate tax rate to 15% and reducing the number of personal income tax brackets from seven to three with rates of 35%, 25%, and 10%, respectively.
Trump won't 'terminate' NAFTA.A statement from the White House said President Donald Trump told the leaders of Mexico and Canada that he won't "terminate" NAFTA, but that he is looking to renegotiate the trade deal, Reuters says.
The Bank of Japan cuts its inflation forecast.The BOJ kept policy on hold, but said it sees inflation of 1.4% in 2017, down from its previous estimate of 1.5% and below its 2% target. The Japanese yen is weaker by 0.3% at 111.35 per dollar.
The ECB meets.The European Central Bank is expected to keep policy on hold as the second round of France's presidential election looms on May 7. Traders will be on the lookout for any clues as to when the central bank might taper its bond-buying program. Ahead of the decision, the euro is little changed at 1.0895 against the dollar.
Bitcoin is threatening all-time highs.The cryptocurrency trades up 0.9% at $1306 a coin, holding just below its all-time high of $1327.19, which was set on March 10, the day the US Securities and Exchange Commission rejected the Winklevoss ETF.
Samsung posts its best quarterly profit in 3 years.The electronics giant shrugged off the Galaxy Note 7 debacle and posted an operating profit of9.9 trillion won ($8.75 billion), its best in more than 3 years, Reuters says.
Weight Watchers has a new CEO.Mindy Grossman, current chief executive of HSN, has been named CEO, Reuters says. Shares of Weight Watchers spiked as much as 13% in after-hours trade on Wednesday following the announcement.
Stock markets around the world are mixed.Hong Kong's Hang Seng (+0.5%) paced the gains in Asia and Britain's FTSE (-0.6%) lags in Europe. The S&P 500 is set to open down 0.1% at 2,385.
Earnings reporting is heavy.American Air, Domino's Pizza, Ford, and UPS are among the companies reporting ahead of the opening bell while Alphabet, Amazon, and GoPro highlight the names releasing their quarterly results after markets close.
US economic data is moderate.Durable orders and initial claims will be released at 8:30 a.m. ET before pending home sales crosses the wires at 10 a.m. ET. The US 10-year yield is little changed at 2.30%.
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• UNVEILED: TRUMP'S TAX PLAN
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• A coffee expert shares the 6 things every coffee drinker should have || 10 things you need to know before the opening bell: Venezuela protests (Volunteers, members of a primary care response team, huddle together during clashes with security forces at a rally against Venezuela's President Nicolas Maduro in Caracas, Venezuela.Reuters/Carlos Garcia Rawlins) Trump's tax plan is out. Key details from the plan include lowering the corporate tax rate to 15% and reducing the number of personal income tax brackets from seven to three with rates of 35%, 25%, and 10%, respectively. Trump won't 'terminate' NAFTA . A statement from the White House said President Donald Trump told the leaders of Mexico and Canada that he won't "terminate" NAFTA, but that he is looking to renegotiate the trade deal, Reuters says. The Bank of Japan cuts its inflation forecast . The BOJ kept policy on hold, but said it sees inflation of 1.4% in 2017, down from its previous estimate of 1.5% and below its 2% target. The Japanese yen is weaker by 0.3% at 111.35 per dollar. The ECB meets. The European Central Bank is expected to keep policy on hold as the second round of France's presidential election looms on May 7. Traders will be on the lookout for any clues as to when the central bank might taper its bond-buying program. Ahead of the decision, the euro is little changed at 1.0895 against the dollar. Bitcoin is threatening all-time highs. The cryptocurrency trades up 0.9% at $1306 a coin, holding just below its all-time high of $1327.19, which was set on March 10, the day the US Securities and Exchange Commission rejected the Winklevoss ETF. Samsung posts its best quarterly profit in 3 years . The electronics giant shrugged off the Galaxy Note 7 debacle and posted an operating profit of 9.9 trillion won ($8.75 billion), its best in more than 3 years, Reuters says. Weight Watchers has a new CEO . Mindy Grossman, current chief executive of HSN, has been named CEO, Reuters says. Shares of Weight Watchers spiked as much as 13% in after-hours trade on Wednesday following the announcement. Stock markets around the world are mixed . Hong Kong's Hang Seng (+0.5%) paced the gains in Asia and Britain's FTSE (-0.6%) lags in Europe. The S&P 500 is set to open down 0.1% at 2,385. Story continues Earnings reporting is heavy. American Air, Domino's Pizza, Ford, and UPS are among the companies reporting ahead of the opening bell while Alphabet, Amazon, and GoPro highlight the names releasing their quarterly results after markets close. US economic data is moderate. Durable orders and initial claims will be released at 8:30 a.m. ET before pending home sales crosses the wires at 10 a.m. ET. The US 10-year yield is little changed at 2.30%. NOW WATCH: People are outraged by a Pepsi ad starring Kendall Jenner — here's how the company responded More From Business Insider UNVEILED: TRUMP'S TAX PLAN ESPN is laying off 100 employees, including some of its biggest names A coffee expert shares the 6 things every coffee drinker should have || More than 75 banks are now on Ripple's blockchain network: The concept of ablockchainoriginated in 2009 with the digital currency bitcoin, but now Wall Street institutions are interested in blockchain technology without bitcoin.
RippleNet is a blockchain-like protocol for faster settlement of international payments. It launched in 2012 butits concept predates bitcoin.And it has added 75 banking clients already.
Ripple Labs announced on Wednesday it has signed 10 new banks from all over the world, including BBVA in Spain; MUFG in Japan; Akbank in Turkey; SEB in Sweden; and Axis Bank and Yes Bank, both in India. Add those 10 to the 47-bank consortium in Japan that implementedRipple in March. And add those 57 to existing big-name clients like Bank of America, RBC, Standard Chartered and UBS, and RippleNet starts to look like it’s gaining traction very quickly.
“Our pace [of signing new clients] has dramatically increased,” says Ripple Labs CEO Brad Garlinghouse. “I also think people are getting more comfortable with blockchain technologies. It’s no longer a science experiment. It’s not theory, it’s very real.”
Thebitcoin blockchain is a decentralized, public, permissionless ledgerthat records every transaction and trade done in bitcoin. But now all manner of companies, from “blockchain as a service” startups like Rippleand Chainto established tech giants like IBM, are developing all manner of distributed ledgers forareas like food shipment tracking, smart contracts, and agriculture.
In many cases these applications of blockchain are closed and permissioned, which is a very different proposition than the spirit of the anonymized, open-to-all bitcoin blockchain. In banking, for now, the main appeal is toimprove the efficiency of their transaction processing.
Ripple’s value proposition to banking clients is cheaper rates and faster transfer times for international payments. The bank’s customers don’t have to know or care that they’re using Ripple (it isn’t like you’d tell your bank, “I want to send this money using Ripple”), but would certainly notice the faster transaction time than they’re used to.
Garlinghouse gives the pitch to banks this way: “If your customer wants to send yen to Japan, you are captive to the correspondent banking network and your customer has a bad experience and you, as a bank, have to endure cost to transmit that money.”
Ripple’s Consensus Ledger can process 1,000 transactions per second, and settles an international payment in three seconds on average. (He compares that to the bitcoin blockchain, which has slowed recently to two hours per transaction, creating a debate over block size; to be fair, both speeds are much faster than sending money with a traditional clearinghouse like Western Union.)
Ripple can also be used for in-country payments; many of the banks in Japan are using Ripple for domestic payments due to the sluggishness of the local payments network there. But for the most part, Ripple is focusing on cross-border payments because that’s the biggest pain point for banks and banking customers.
Santander added a function to its mobile app that lets customerssend money abroad over the Ripple network.While Ripple is hardly the only blockchain-for-banking startup out there, Garlinghouse boasts, “We are the only company in the space with real customers.” Competitors, Garlinghouse says, “are still playing in the sandbox. And proof of concepts are not a business model.”
That’s tough talk, and true only to an extent. Chain has partnered with heavy-hitters like Visa, Citi, and Nasdaq, but for now the results have been experiments, trial runs,or “previews” like Visa B2B Connect.
All the experimentation has led critics to say that the Wall Street interest in blockchain is all just talk, or as IBM blockchain exec Jerry Cuomo puts it, “blockchain tourism.” Ripple CTO Stefan Thomas acknowledges that the term itself has become a “classic technology buzzword.”
But Garlinghouse is confident that distributed ledger technology and its many applications will bring about the “Internet of value.” Many have applied that phrase to bitcoin (causing some contention over who owns the phrase), but Garlinghouse says it hasn’t lived up to that promise.
“We feel like to enable an Internet of value, you have to connect through repositories of value, and those are the banks,” he says. “Where many in the bitcoin community have espoused a view of, ‘Down with the banks, down with fiat currency,’ Ripple has taken the opposite: we think the banks are critical to the future of an Internet of value.”
Bitcoin has risen 178% in value in the past year(it’s now around $1,300), but critics now doubt that the coin can become more than a speculative investment.
“We might end up finding that bitcoin is the Napster of digital assets,” Garlinghouse says. “Napster lived in a world devoid of trademark law, and royalties, andtried to live outside of the rules, and you could say the same about bitcoin. I’m not predicting that bitcoin will go the way of Napster, but I would point out that bitcoin has demonstrated some very cool capabilities that, in the end, bitcoin may not be the best tool for.”
Ripple has its own digital token, XRP, and it is often billed by tech press as a bitcoin competitor, but that’s not quite right. Ripple uses it as a settlement token, and banking clients don’t have to use it or touch it at all. It is more of an institutional digital asset than a public investment vehicle like bitcoin, though anyone could buy some XRP if they wish. (Its value has risen 345% in the past year, but in dollars it is worth just 3 cents; again, its trading price is not the point.)
Ripple’s XRP coin is “about reducing the cost for banks to fund liquidity around the world,” says Garlinghouse. That can double as a statement of Ripple’s purpose, too. And if its banking clients, over time, decide that Ripple’s rail has reduced friction and made customers happier, expect Ripple to continue adding banks and financial clients, who are itching to show their innovativeness by saying they’re in the blockchain tech space.
—
Daniel Roberts covers bitcoin and blockchain tech at Yahoo Finance. Follow him on Twitter at@readDanwrite.
Read more:
America’s big banks are staffing up—for blockchain
Why 21 Inc is the most exciting bitcoin company right now
Coinbase is more bullish on bitcoin than ever
How big banks are paying lip service to the blockchain
Bitcoin’s biggest investor just bought its biggest news site
[Social Media Buzz]
1 BTC Price: BTC-e 1393.108 USD Bitstamp 1478.05 USD Coinbase 1485.00 USD #btc #bitcoin 2017-05-03 13:30 pic.twitter.com/jRTsYDOyXj || One Bitcoin now worth $1470.00@bitstamp. High $1481.73. Low $1403.00. Market Cap $23.972 Billion #bitcoin pic.twitter.com/yuGMOg7rCt || One Bitcoin now worth $1463.00@bitstamp. High $1481.73. Low $1403.00. Market Cap $23.855 Billion #bitcoin pic.twitter.com/pJIPVxM5NY || Today's 4pm ET auction: 756.00 BTC (~1.13M USD) @ $1,499.975 (0.12% off mid). https://gemini....
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1537.67, 1555.45, 1578.80, 1596.71, 1723.35, 1755.36, 1787.13, 1848.57, 1724.24, 1804.91
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Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 433.44, 430.01, 433.09, 431.96, 429.11, 458.05, 453.23, 447.61, 447.99, 448.43, 435.69, 432.37, 430.31, 364.33, 387.54, 382.30, 387.17, 380.15, 420.23, 410.26, 382.49, 387.49, 402.97, 391.73, 392.15, 394.97, 380.29, 379.47, 378.26, 368.77, 373.06, 374.45, 369.95, 389.59, 386.55, 376.52, 376.62, 373.45, 376.03, 381.65, 379.65, 384.26, 391.86, 407.23, 400.18, 407.49, 416.32, 422.37, 420.79, 437.16, 438.80, 437.75, 420.74, 424.95, 424.54, 432.15, 432.52, 433.50, 437.70, 435.12, 423.99, 421.65, 410.94, 400.57, 407.71, 414.32, 413.97, 414.86, 417.13, 421.69, 411.62, 414.07, 416.44, 416.83, 417.01, 420.62, 409.55, 410.44, 413.76, 413.31, 418.09, 418.04, 416.39, 417.18, 417.95, 426.77, 424.23, 416.52, 414.82, 416.73.
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[Bitcoin Technical Analysis for 2016-03-31]
Volume: 60215200, RSI (14-day): 49.86, 50-day EMA: 414.42, 200-day EMA: 374.11
[Wider Market Context]
Gold Price: 1234.20, Gold RSI: 51.53
Oil Price: 38.34, Oil RSI: 55.25
[Recent News (last 7 days)]
Japan looks to kickstart 'fintech' revolution: By Thomas Wilson TOKYO (Reuters) - A laggard in embracing the 'fintech', or financial technology, revolution, Japan is set to ease investment restrictions that could free up the flow of capital in an economy sitting on an estimated $9 trillion in individuals' cash deposits. Strict regulation, easy access to credit due to rock-bottom interest rates, and weak demand for innovative financial services from a risk-averse population that still prefers cash to credit cards, have strangled fintech's advance in Japan. Fintech ventures - usually start-ups leveraging technology from cloud data storage to smartphones to provide loans, insurance and payment services - raised $2.7 billion in China last year, and over $1.5 billion in India, according to CB Insights data. Ventures in the United States attracted investment of around $7.4 billion. In comparison, investment in Japanese ventures reached only around $44 million in the first nine months of 2015. Now, Japan's financial industry regulator hopes relaxed rules on investing in financial ventures, and a new system for regulating virtual currency exchanges will pass through parliament by May - a first step in kickstarting the fintech revolution in the world's third-biggest economy. "The law changes aren't a goal, but a first step," Norio Sato, a senior official at the Financial Services Authority (FSA), told Reuters. "Fintech will have a big impact on financial services." The changes, which will allow banks to buy stakes of up to 100 percent in non-finance-related firms, will free up Japan's three megabanks to enter into tie-ups with fintech ventures developing services including robotic investment advisory and blockchain, the decentralised ledger technology behind the bitcoin digital currency. Mitsubishi UFJ Financial Group, Mizuho Financial Group and Sumitomo Mitsui Financial Group have said they are eyeing such investments, having previously been restricted to holding stakes of only 5-15 percent in start-ups. Story continues Under pressure from weak loan demand, the megabanks see an opportunity to earn money through fintech, but are also aware of its potential to disrupt traditional business models. GAME CHANGER The unpromising fintech environment in Japan - which was blindsided by the high-profile collapse of the Mt. Gox bitcoin exchange in 2014 when hackers stole an estimated $650 million worth of the digital currency - has seen some entrepreneurs go overseas for funding. Junichi Horiguchi, co-founder and CEO of bitcoin service provider Zerobillbank Ltd, established his start-up in Tel Aviv last year to take advantage of Israel's advanced technology industry. Investment in fintech start-ups by global banks and tech giants including Barclays, Google and Facebook is far more common in Israel than in Japan, he said. "It's completely different over there," Horiguchi told Reuters. "Every month there are open innovation contests and (start-up) accelerator programmes." Sales at Japan's fintech start-ups could jump to over half a billion dollars by 2020 as the use of technology such as blockchain increases, Yano Research Institute said in a report. The new rules the FSA is promoting on virtual currency exchanges could make Japan one of the first countries to regulate bitcoin at a national level. "Japan hasn't previously been enthusiastic about fintech," said Sato. "But creating these rules this fast could gain the world's attention." Bitcoin entrepreneurs, often reliant on investment for growth, have called for clearer regulation and will welcome the latest changes, said Yuzo Kano, founder and CEO of bitcoin exchange bitFlyer Inc, and head of the Japan Authority for Digital Assets, a lobbying group. "The establishment of the law is extremely surprising," Kano said, referring to how quickly the FSA had drafted the law. "It's set to be very successful." ($1 = 112.95 yen) (Reporting by Thomas Wilson; Editing by Ian Geoghegan) || Japan looks to kickstart 'fintech' revolution: By Thomas Wilson TOKYO (Reuters) - A laggard in embracing the 'fintech', or financial technology, revolution, Japan is set to ease investment restrictions that could free up the flow of capital in an economy sitting on an estimated $9 trillion in individuals' cash deposits. Strict regulation, easy access to credit due to rock-bottom interest rates, and weak demand for innovative financial services from a risk-averse population that still prefers cash to credit cards, have strangled fintech's advance in Japan. Fintech ventures - usually start-ups leveraging technology from cloud data storage to smartphones to provide loans, insurance and payment services - raised $2.7 billion in China last year, and over $1.5 billion in India, according to CB Insights data. Ventures in the United States attracted investment of around $7.4 billion. In comparison, investment in Japanese ventures reached only around $44 million in the first nine months of 2015. Now, Japan's financial industry regulator hopes relaxed rules on investing in financial ventures, and a new system for regulating virtual currency exchanges will pass through parliament by May - a first step in kickstarting the fintech revolution in the world's third-biggest economy. "The law changes aren't a goal, but a first step," Norio Sato, a senior official at the Financial Services Authority (FSA), told Reuters. "Fintech will have a big impact on financial services." The changes, which will allow banks to buy stakes of up to 100 percent in non-finance-related firms, will free up Japan's three megabanks to enter into tie-ups with fintech ventures developing services including robotic investment advisory and blockchain, the decentralised ledger technology behind the bitcoin digital currency. Mitsubishi UFJ Financial Group, Mizuho Financial Group and Sumitomo Mitsui Financial Group have said they are eyeing such investments, having previously been restricted to holding stakes of only 5-15 percent in start-ups. Under pressure from weak loan demand, the megabanks see an opportunity to earn money through fintech, but are also aware of its potential to disrupt traditional business models. GAME CHANGER The unpromising fintech environment in Japan - which was blindsided by the high-profile collapse of the Mt. Gox bitcoin exchange in 2014 when hackers stole an estimated $650 million worth of the digital currency - has seen some entrepreneurs go overseas for funding. Junichi Horiguchi, co-founder and CEO of bitcoin service provider Zerobillbank Ltd, established his start-up in Tel Aviv last year to take advantage of Israel's advanced technology industry. Investment in fintech start-ups by global banks and tech giants including Barclays, Google and Facebook is far more common in Israel than in Japan, he said. "It's completely different over there," Horiguchi told Reuters. "Every month there are open innovation contests and (start-up) accelerator programmes." Sales at Japan's fintech start-ups could jump to over half a billion dollars by 2020 as the use of technology such as blockchain increases, Yano Research Institute said in a report. The new rules the FSA is promoting on virtual currency exchanges could make Japan one of the first countries to regulate bitcoin at a national level. "Japan hasn't previously been enthusiastic about fintech," said Sato. "But creating these rules this fast could gain the world's attention." Bitcoin entrepreneurs, often reliant on investment for growth, have called for clearer regulation and will welcome the latest changes, said Yuzo Kano, founder and CEO of bitcoin exchange bitFlyer Inc, and head of the Japan Authority for Digital Assets, a lobbying group. "The establishment of the law is extremely surprising," Kano said, referring to how quickly the FSA had drafted the law. "It's set to be very successful." ($1 = 112.95 yen) (Reporting by Thomas Wilson; Editing by Ian Geoghegan) || Japan looks to kickstart 'fintech' revolution: By Thomas Wilson TOKYO (Reuters) - A laggard in embracing the 'fintech', or financial technology, revolution, Japan is set to ease investment restrictions that could free up the flow of capital in an economy sitting on an estimated $9 trillion in individuals' cash deposits. Strict regulation, easy access to credit due to rock-bottom interest rates, and weak demand for innovative financial services from a risk-averse population that still prefers cash to credit cards, have strangled fintech's advance in Japan. Fintech ventures - usually start-ups leveraging technology from cloud data storage to smartphones to provide loans, insurance and payment services - raised $2.7 billion in China last year, and over $1.5 billion in India, according to CB Insights data. Ventures in the United States attracted investment of around $7.4 billion. In comparison, investment in Japanese ventures reached only around $44 million in the first nine months of 2015. Now, Japan's financial industry regulator hopes relaxed rules on investing in financial ventures, and a new system for regulating virtual currency exchanges will pass through parliament by May - a first step in kickstarting the fintech revolution in the world's third-biggest economy. "The law changes aren't a goal, but a first step," Norio Sato, a senior official at the Financial Services Authority (FSA), told Reuters. "Fintech will have a big impact on financial services." The changes, which will allow banks to buy stakes of up to 100 percent in non-finance-related firms, will free up Japan's three megabanks to enter into tie-ups with fintech ventures developing services including robotic investment advisory and blockchain, the decentralised ledger technology behind the bitcoin digital currency. Mitsubishi UFJ Financial Group, Mizuho Financial Group and Sumitomo Mitsui Financial Group have said they are eyeing such investments, having previously been restricted to holding stakes of only 5-15 percent in start-ups. Story continues Under pressure from weak loan demand, the megabanks see an opportunity to earn money through fintech, but are also aware of its potential to disrupt traditional business models. GAME CHANGER The unpromising fintech environment in Japan - which was blindsided by the high-profile collapse of the Mt. Gox bitcoin exchange in 2014 when hackers stole an estimated $650 million worth of the digital currency - has seen some entrepreneurs go overseas for funding. Junichi Horiguchi, co-founder and CEO of bitcoin service provider Zerobillbank Ltd, established his start-up in Tel Aviv last year to take advantage of Israel's advanced technology industry. Investment in fintech start-ups by global banks and tech giants including Barclays, Google and Facebook is far more common in Israel than in Japan, he said. "It's completely different over there," Horiguchi told Reuters. "Every month there are open innovation contests and (start-up) accelerator programmes." Sales at Japan's fintech start-ups could jump to over half a billion dollars by 2020 as the use of technology such as blockchain increases, Yano Research Institute said in a report. The new rules the FSA is promoting on virtual currency exchanges could make Japan one of the first countries to regulate bitcoin at a national level. "Japan hasn't previously been enthusiastic about fintech," said Sato. "But creating these rules this fast could gain the world's attention." Bitcoin entrepreneurs, often reliant on investment for growth, have called for clearer regulation and will welcome the latest changes, said Yuzo Kano, founder and CEO of bitcoin exchange bitFlyer Inc, and head of the Japan Authority for Digital Assets, a lobbying group. "The establishment of the law is extremely surprising," Kano said, referring to how quickly the FSA had drafted the law. "It's set to be very successful." ($1 = 112.95 yen) (Reporting by Thomas Wilson; Editing by Ian Geoghegan) || Japan looks to kickstart 'fintech' revolution: By Thomas Wilson TOKYO (Reuters) - A laggard in embracing the 'fintech', or financial technology, revolution, Japan is set to ease investment restrictions that could free up the flow of capital in an economy sitting on an estimated $9 trillion in individuals' cash deposits. Strict regulation, easy access to credit due to rock-bottom interest rates, and weak demand for innovative financial services from a risk-averse population that still prefers cash to credit cards, have strangled fintech's advance in Japan. Fintech ventures - usually start-ups leveraging technology from cloud data storage to smartphones to provide loans, insurance and payment services - raised $2.7 billion in China last year, and over $1.5 billion in India, according to CB Insights data. Ventures in the United States attracted investment of around $7.4 billion. In comparison, investment in Japanese ventures reached only around $44 million in the first nine months of 2015. Now, Japan's financial industry regulator hopes relaxed rules on investing in financial ventures, and a new system for regulating virtual currency exchanges will pass through parliament by May - a first step in kickstarting the fintech revolution in the world's third-biggest economy. "The law changes aren't a goal, but a first step," Norio Sato, a senior official at the Financial Services Authority (FSA), told Reuters. "Fintech will have a big impact on financial services." The changes, which will allow banks to buy stakes of up to 100 percent in non-finance-related firms, will free up Japan's three megabanks to enter into tie-ups with fintech ventures developing services including robotic investment advisory and blockchain, the decentralised ledger technology behind the bitcoin digital currency. Mitsubishi UFJ Financial Group, Mizuho Financial Group and Sumitomo Mitsui Financial Group have said they are eyeing such investments, having previously been restricted to holding stakes of only 5-15 percent in start-ups. Under pressure from weak loan demand, the megabanks see an opportunity to earn money through fintech, but are also aware of its potential to disrupt traditional business models. GAME CHANGER The unpromising fintech environment in Japan - which was blindsided by the high-profile collapse of the Mt. Gox bitcoin exchange in 2014 when hackers stole an estimated $650 million worth of the digital currency - has seen some entrepreneurs go overseas for funding. Junichi Horiguchi, co-founder and CEO of bitcoin service provider Zerobillbank Ltd, established his start-up in Tel Aviv last year to take advantage of Israel's advanced technology industry. Investment in fintech start-ups by global banks and tech giants including Barclays, Google and Facebook is far more common in Israel than in Japan, he said. "It's completely different over there," Horiguchi told Reuters. "Every month there are open innovation contests and (start-up) accelerator programmes." Sales at Japan's fintech start-ups could jump to over half a billion dollars by 2020 as the use of technology such as blockchain increases, Yano Research Institute said in a report. The new rules the FSA is promoting on virtual currency exchanges could make Japan one of the first countries to regulate bitcoin at a national level. "Japan hasn't previously been enthusiastic about fintech," said Sato. "But creating these rules this fast could gain the world's attention." Bitcoin entrepreneurs, often reliant on investment for growth, have called for clearer regulation and will welcome the latest changes, said Yuzo Kano, founder and CEO of bitcoin exchange bitFlyer Inc, and head of the Japan Authority for Digital Assets, a lobbying group. "The establishment of the law is extremely surprising," Kano said, referring to how quickly the FSA had drafted the law. "It's set to be very successful." ($1 = 112.95 yen) (Reporting by Thomas Wilson; Editing by Ian Geoghegan) || Excitement Builds for Flow CARIFTA Games: ST. GEORGE'S, GRENADA--(Marketwired - Mar 24, 2016) - The excitement is steadily building in the Spice Isle, as the crème de la crème of junior track and field descends on Grenada for the highly anticipated 2016 Flow CARIFTA Games this weekend.
Already, teams from Anguilla, Antigua, the Cayman Islands, Guyana, St. Lucia, Suriname, St. Vincent and the Grenadines, the US Virgin Islands, and Trinidad and Tobago have arrived in St. George's to compete in the 45thedition of the Caribbean's premier athletics meet.
"We know that a lot is expected of us, and as we showcase our Caribbean youth, we want to provide them with an experience that will encourage them to continue in sport. My heart is filled with joy to see that we have reached this point," said Veda Bruno-Victor, Chairperson of the Local Organising Committee.
Flow, the region's leading telecommunications provider, has signed a three-year partnership with the North American, Central American and Caribbean Athletics Association (NACAC) to be the exclusive broadcast partner and title sponsor of the CARIFTA Games.
It means that for the first time in the history of the CARIFTA Games, the event will be broadcast live in High Definition (HD) across the entire Caribbean.
"I am also very grateful that Flow has become our title sponsor for the 2016 CARIFTA Games and for the following two Games to come. We want our young athletes to be seen and remembered, because if they are not in Rio, they will definitely be in Japan (2020 Olympic Games). We want our people to say 'I remember that boy or girl' and it is with great expectation that we look forward to the coming of the CARIFTA Games," added Bruno-Victor.
Flow, which is also the region's exclusive broadcast partner for the upcoming Rio 2016 Olympic Games, has contracted an international production team that will capture, package and present more than twenty hours of live coverage from the River Road venue on the Flow Sports Channel (Channel 190 in Barbados).
"This is a triumphant moment for Caribbean athletics and we very proud to be the exclusive broadcast partner and title sponsor of the 2016 Flow CARIFTA Games," said Denise Williams, Senior Vice President of Communications, Cable & Wireless Communications.
"Since its launch last year, Flow Sports has already become one of the Caribbean's leading sports networks and our partnership with the CARIFTA Games builds upon Flow's other initiatives across the region. In addition to lending financial support, we are also very excited that our partnership with NACAC will allow us the opportunity to broadcast the Games across multiple platforms including our very own Flow Sports."
The 2016 Flow CARIFTA Games will inaugurate Grenada's new National Stadium which was recently redeveloped following the passing of Hurricane Ivan in 2004.
More than 650 athletes and officials will attend the Games from countries including Anguilla, Antigua and Barbuda, Aruba, Bahamas, Barbados, Bermuda, British Virgin Islands, Bonaire, Cayman Islands, Curacao, Dominica, French Guiana, Grenada, Guadeloupe, Guyana, Haiti, Jamaica, Martinique, Saint Kitts and Nevis, Saint Lucia, Saint Maarteen, Saint Vincent and the Grenadines, Suriname, Trinidad and Tobago, Turks and Caicos Islands, and the United States Virgin Islands.
About Cable & Wireless Communications PlcCable & Wireless Communications Plc (CWC) is a full service communications and entertainment provider, operating in Latin America and the Caribbean. With annual sales of over US$2.4 billion, it operates both mobile and fixed networks, supported by submarine and terrestrial optical fibre backhaul capacity. CWC delivers superior high-speed mobile data, broadband and video services. It has leading market positions in Mobile, Fixed Line, Broadband and Video consumer offers. Through its business division, CWC provides data centre hosting, domestic and international managed network services, and customised IT service solutions, utilising cloud technology to serve business and government customers.
The Group also operates a state-of-the-art subsea fibre optic cable network that spans more than 48,000 km -- the most extensive in the region -- as well as 38,000 km of terrestrial fibre providing wholesale and carrier backhaul capacity.
CWC has more than 7,300 employees serving 6.4 million customers (Mobile 4.1m; Fixed Line 1.1m; Video 470k and Broadband 690k) across 42 countries. The Group's leading brands include; LIME and Flow in the Caribbean; BTC in The Bahamas; Mas Movil in Panama; C&W Business and C&W Networks. CWC is the market leader in most products offered and territories served. It is a major contributor to local communities through its corporate social responsibility programmes. Cable & Wireless Communications Plc's shares are quoted on the London Stock Exchange under the ticker CWC. The Group is headquartered in London with its operational hub located in Miami, within close proximity to the Caribbean and Latin America. For more information visit:www.cwc.com.
Image Available:http://www2.marketwire.com/mw/frame_mw?attachid=2983620 || Excitement Builds for Flow CARIFTA Games: ST. GEORGE'S, GRENADA--(Marketwired - Mar 24, 2016) - The excitement is steadily building in the Spice Isle, as the crème de la crème of junior track and field descends on Grenada for the highly anticipated 2016 Flow CARIFTA Games this weekend. Already, teams from Anguilla, Antigua, the Cayman Islands, Guyana, St. Lucia, Suriname, St. Vincent and the Grenadines, the US Virgin Islands, and Trinidad and Tobago have arrived in St. George's to compete in the 45 th edition of the Caribbean's premier athletics meet. "We know that a lot is expected of us, and as we showcase our Caribbean youth, we want to provide them with an experience that will encourage them to continue in sport. My heart is filled with joy to see that we have reached this point," said Veda Bruno-Victor, Chairperson of the Local Organising Committee. Flow, the region's leading telecommunications provider, has signed a three-year partnership with the North American, Central American and Caribbean Athletics Association (NACAC) to be the exclusive broadcast partner and title sponsor of the CARIFTA Games. It means that for the first time in the history of the CARIFTA Games, the event will be broadcast live in High Definition (HD) across the entire Caribbean. "I am also very grateful that Flow has become our title sponsor for the 2016 CARIFTA Games and for the following two Games to come. We want our young athletes to be seen and remembered, because if they are not in Rio, they will definitely be in Japan (2020 Olympic Games). We want our people to say 'I remember that boy or girl' and it is with great expectation that we look forward to the coming of the CARIFTA Games," added Bruno-Victor. Flow, which is also the region's exclusive broadcast partner for the upcoming Rio 2016 Olympic Games, has contracted an international production team that will capture, package and present more than twenty hours of live coverage from the River Road venue on the Flow Sports Channel (Channel 190 in Barbados). Story continues "This is a triumphant moment for Caribbean athletics and we very proud to be the exclusive broadcast partner and title sponsor of the 2016 Flow CARIFTA Games," said Denise Williams, Senior Vice President of Communications, Cable & Wireless Communications. "Since its launch last year, Flow Sports has already become one of the Caribbean's leading sports networks and our partnership with the CARIFTA Games builds upon Flow's other initiatives across the region. In addition to lending financial support, we are also very excited that our partnership with NACAC will allow us the opportunity to broadcast the Games across multiple platforms including our very own Flow Sports." The 2016 Flow CARIFTA Games will inaugurate Grenada's new National Stadium which was recently redeveloped following the passing of Hurricane Ivan in 2004. More than 650 athletes and officials will attend the Games from countries including Anguilla, Antigua and Barbuda, Aruba, Bahamas, Barbados, Bermuda, British Virgin Islands, Bonaire, Cayman Islands, Curacao, Dominica, French Guiana, Grenada, Guadeloupe, Guyana, Haiti, Jamaica, Martinique, Saint Kitts and Nevis, Saint Lucia, Saint Maarteen, Saint Vincent and the Grenadines, Suriname, Trinidad and Tobago, Turks and Caicos Islands, and the United States Virgin Islands. About Cable & Wireless Communications Plc Cable & Wireless Communications Plc (CWC) is a full service communications and entertainment provider, operating in Latin America and the Caribbean. With annual sales of over US$2.4 billion, it operates both mobile and fixed networks, supported by submarine and terrestrial optical fibre backhaul capacity. CWC delivers superior high-speed mobile data, broadband and video services. It has leading market positions in Mobile, Fixed Line, Broadband and Video consumer offers. Through its business division, CWC provides data centre hosting, domestic and international managed network services, and customised IT service solutions, utilising cloud technology to serve business and government customers. The Group also operates a state-of-the-art subsea fibre optic cable network that spans more than 48,000 km -- the most extensive in the region -- as well as 38,000 km of terrestrial fibre providing wholesale and carrier backhaul capacity. CWC has more than 7,300 employees serving 6.4 million customers (Mobile 4.1m; Fixed Line 1.1m; Video 470k and Broadband 690k) across 42 countries. The Group's leading brands include; LIME and Flow in the Caribbean; BTC in The Bahamas; Mas Movil in Panama; C&W Business and C&W Networks. CWC is the market leader in most products offered and territories served. It is a major contributor to local communities through its corporate social responsibility programmes. Cable & Wireless Communications Plc's shares are quoted on the London Stock Exchange under the ticker CWC. The Group is headquartered in London with its operational hub located in Miami, within close proximity to the Caribbean and Latin America. For more information visit: www.cwc.com . Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=2983620 || The biggest names in bitcoin and blockchain in 2016: While critics are still dubious of the future viability of the digital currency bitcoin, at least one group isnt: venture capitalists. VCs pumped more investment into bitcoin and blockchain-related startups last year than in any previous year nearly $1 billion . The investors are keeping this industry hot, even if we havent yet seen any so-called killer app," a mainstream use case for bitcoin that would compel the average person to care. And it isnt just investors leading the chargeits a handful of key executives, thinkers and even policy people . Of course, investors are just as keen on companies exploring the blockchain, which is the decentralized ledger technology on which bitcoin runs. (For a full explainer on blockchain, watch this video .) The hype around the idea of banks using a form of blockchain (without bitcoin) is high, even though a PwC survey this month found that 57% of financial executives say they're unsure about implementing blockchain tech in banking. So, who are the big believers? They are some of the biggest names in bitcoin and blockchain right now. Some are executives at the most well-funded companies, some are investors in those companies. All of them bring clout and connections to bitcoin and the blockchain. Here are 11 of them, curated by Yahoo Finance with input from a number of industry insiders. This is not a list of the hottest bitcoin companies, nor is it a ranking. Its an unofficial look at the individuals bringing mainstream attention to this still-nascent, still-controversial corner of tech. Call them the "bitcoin celebrities" if you like. This list is unranked (alphabetical order). Feel free to debate, dispute and make your own suggestions in the comment section. 1. Marc Andreessen, Andreessen Horowitz Everyone in tech knows Andreessen. He is the co-founder of Netscape, a board member at Facebook, eBay and others, and co-founder of the Silicon Valley powerhouse venture capital firm Andreessen Horowitz. The firms portfolio includes investments in bitcoin wallet company Coinbase (see No. 6), 21 Inc (see No. 9), and TradeBlock. In 2014, he wrote an op-ed in the New York Times boldly titled, Why bitcoin matters. He liberally shares bitcoin and blockchain-related news to his 500,000 Twitter followersa considerable benefit to bitcoiners. Story continues 2. Brian Armstrong, Coinbase When Coinbase, one of the earliest bitcoin startups, raised $75 million in funding in January of last year, it was at the time the biggest fundraising round ever for a bitcoin company. (The figure has since been shattered by 21 Inc.) And Coinbase, which has raised $107 million total, remains arguably the best-known name among all bitcoin startupsit is often where people go to get a bitcoin wallet and to buy their first bitcoins. It was first to market with a bitcoin exchange platform in the U.S. (others waited longer in order to get certain licensing) and Armstrong, its leader, is one of the most sensible thinkers in the industry. ( His post explaining the debate over block size distills the issue clearly.) 3. Adam Back, Blockstream Bitcoin is partially based on a previous system called hashcash, an algorithm that cut down on email spam by requiring proof of work, an early form of what is now bitcoin mining. Back created hashcash. Now the cryptographer, as president of blockchain startup Blockstream, has become one of the loudest voices in the debate over whether, and how, to increase the size limit of transaction bundles (or blocks) on the bitcoin blockchain. His experience in business (he's worked as a consultant to Nokia) and in academia (he has a PhD in distributed systems) have made him a unique authority in the space. Reid Hoffman, the influential co-founder of LinkedIn ( LNKD ), made a personal investment of $21 million in Blockstream, and the company has raised $76 million overall. 4. Vitalik Buterin, Ethereum Ethereum is a bitcoin alternative that some believe has more potential than bitcoin. The platform runs on a decentralized blockchain, like bitcoins, that allows for any peer-to-peer exchange of value, and it uses its own currency, Ether. And the company is a non-profit. Buterin developed the concept in 2013, and in 2014 sold about 60 million ether in a pre-sale , which worked out to $18.4 million at the time. The Ethereum chain went live last summer. Buterin, who is only 22, is seen as a wunderkind; he also helped launch Bitcoin Magazine. 5. Wences Casares, Xapo Reid Hoffman has called Wences Casares the Patient Zero for bitcoin in Silicon Valley. His startup Xapo was one of the earliest bitcoin wallet companies, though it's embroiled in a legal dispute with LifeLock, the company that acquired Casaress previous startup, Lemon. (LifeLock alleges Casares and others created Xapo while still working at Lemon, within LifeLock; he has filed a counter-suit.) Most importantly, PayPal created a new seat on its board of directors for Casares in January. The appointment was seen as big news for bitcoina bitcoin entrepreneur on the board of PayPal was quite a milestone. And Xapo has raised $40 million in funding. 6. Blythe Masters, Digital Asset Holdings Masters is one of a kind in the bitcoin world. She spent nearly 30 years as a JPMorgan ( JPM ) executive, including as head of global commodities, before leaving to run Digital Asset Holdings, a startup that seeks to apply blockchain tech to Wall Street. Its first big client: her former employer. JPMorgan is working with Digital Asset Holdings to test out a use of blockchain to settle transactions faster. DAH has raised $60 million in funding. Because Masters is a known name on Wall Street, her move brought big legitimacy to the space. (And Masters isn't the only female leader in bitcoin : Catheryne Nicholson is CEO of small blockchain startup BlockCypher, which has raised $3.5 million, and Elizabeth Rossiello is CEO of BitPesa, which is working on bitcoin payments in Africa.) 7. Jesse Powell, Kraken Kraken is a bitcoin exchange headquartered in San Francisco, but with most of its activity in Europe. Heres why thats relevant: Last year, when the New York State Department of Financial Services (NYDFS) released its controversial regulatory framework for bitcoin companies, the Bitlicense, Kraken led a charge of bitcoin startups out of New York . The company wont do business in the state, which is a financial risk but a compelling stance against what Powell and others see as restrictive legislation. Kraken, which has raised $6.5 million in funding, has stuck to that vow even as it has ramped up acquisitions lately, buying out Coinsetter , a U.S. exchange that itself had bought out Cavirtex, a Canadian exchange. Kraken's purchase of Coinsetter was the biggest ever M&A deal in the bitcoin space; Coinsetter did operate in New York, but now it won'tthat's how rigid Powell is in his stance. Kraken is continuing to get bigger, but without New York, the very place where so much of the activity around blockchain is centered. 8. David Rutter, R3 R3 CEV is the private firm that rolled out a consortium (the Distributed Ledger Group) for banks interested in exploring blockchain technology. More than 40 of them have signed on, including Bank of America ( BAC ), Citi ( C ), Deutsche Bank ( DB ) and Wells Fargo ( WFC ). And this month R3 announced an extensive test of online distributed ledgers for banks, with help from Chain, Ethereum (see No. 10) and IBM. It is R3 that has attracted institutions whose involvement can turn the abstract notion of "blockchain for banks into a reality. 9. Barry Silbert, Digital Currency Group In 2004, Barry Silbert founded SecondMarket, which allows people to buy stock in non-public companies. He sold the company to Nasdaq last year and has since launched Digital Currency Group, the biggest investment firm in bitcoin and blockchain companies. (It has invested in more than 75.) Most recently, DCG bought the leading bitcoin news site, Coindesk, acquiring the annual bitcoin industry conference Consensus along with it. Almost every time a bitcoin startup announces a new fundraising round, Silbert and DCG are involved. Silbert also launched the Bitcoin Investment Trust ( GBTC ), which trades over-the-counter and is designed to track the price of bitcoin. 10. Balaji Srinivasan, 21 Inc. Srinivasan, the cofounder and CEO of 21 Inc, is also a board partner at Andreessen Horowitz. When 21 first launched publicly, it remained mysterious. It wasnt clear what 21 would be doing, but observers had high expectations: The company raised more than any other bitcoin startup, $121 million in funding. Last year, 21 finally unveiled its first product a small bitcoin personal computer for building apps on top of the bitcoin blockchain. 11. Cameron and Tyler Winklevoss, Winklevoss Capital The Olympic rowers made their name when they sued Facebook ( FB ) cofounder Mark Zuckerberg and got $65 million. Since then, theyve been eager to prove themselves as entrepreneurs, and they have made bitcoin the space in which to prove it. They launched a bitcoin pricing index, Winkdex, in 2014the site is cleanly designed and tracks the price of bitcoin over time. This year, they launched Gemini, a bitcoin trading exchange. Like their pricing index, the design is appealing, but the user base is small. (Gemini is only doing an average $338,000 in trade volume per day, according to data from TradeBlock; by comparison, Kraken sees about $1.3 million in daily volume.) Their bigger ambition: the Winklevoss Bitcoin Trust, a bitcoin ETF, which will trade on the Nasdaq under the symbol COIN but still awaits regulatory approval. There are signs that the bitcoin community doesnt love the Winklevoss brothers yetone prominent bitcoin executive told Fortune , Our industry would prefer that if theres a celebrity spokesperson, it not be them. But the jetsetting duo certainly bring mainstream star power to bitcoin. -- This is the third in a three-part Yahoo Finance series focused on blockchain technology. The first part was about why big banks are expressing interest in the blockchain; the second part was about how you could invest in the blockchain. Daniel Roberts is a writer at Yahoo Finance, covering sports business and technology. Read more: Bitcoin advocacy group scores funding from biggest names in industry Bitcoin industry consolidates: Why Kraken bought Coinsetter Bitcoin's biggest investor bought its biggest news site Here's a sign that PayPal is embracing Bitcoin || The biggest names in bitcoin and blockchain in 2016: While critics are still dubious of the future viability of the digital currency bitcoin, at least one group isn’t: venture capitalists. VCs pumped more investment into bitcoin and blockchain-related startups last year than in any previous year—nearly $1 billion.
The investors are keeping this industry hot, even if we haven’t yet seen any so-called “killer app," a mainstream use case for bitcoin that would compel the average person to care. And it isn’t just investors leading the charge—it’s a handful of key executives, thinkers and evenpolicy people.
Of course, investors are just as keen on companies exploring the blockchain, which is the decentralized ledger technology on which bitcoin runs. (For a full explainer on blockchain,watch this video.) The hype around the idea of banks using a form of blockchain (without bitcoin) is high, even though aPwC survey this monthfound that 57% of financial executives say they're “unsure” about implementing blockchain tech in banking.
So, who are the big believers? They are some of the biggest names in bitcoin and blockchain right now. Some are executives at the most well-funded companies, some are investors in those companies. All of them bring clout and connections to bitcoin and the blockchain. Here are 11 of them, curated by Yahoo Finance with input from a number of industry insiders. This is not a list of the hottest bitcoin companies, nor is it a ranking. It’s an unofficial look at the individuals bringing mainstream attention to this still-nascent, still-controversial corner of tech. Call them the "bitcoin celebrities" if you like.
This list is unranked (alphabetical order). Feel free to debate, dispute and make your own suggestions in the comment section.
Everyone in tech knows Andreessen. He is the co-founder of Netscape, a board member at Facebook, eBay and others, and co-founder of the Silicon Valley powerhouse venture capital firm Andreessen Horowitz. The firm’s portfolio includes investments in bitcoin wallet company Coinbase (see No. 6), 21 Inc (see No. 9), and TradeBlock. In 2014, he wrote anop-ed in the New York Timesboldly titled, “Why bitcoin matters.” He liberally shares bitcoin and blockchain-related news to his 500,000 Twitter followers—a considerable benefit to bitcoiners.
When Coinbase, one of the earliest bitcoin startups, raised $75 million in funding in January of last year, it was at the time the biggest fundraising round ever for a bitcoin company. (The figure has since been shattered by 21 Inc.) And Coinbase, which has raised $107 million total, remains arguably the best-known name among all bitcoin startups—it is often where people go to get a bitcoin wallet and to buy their first bitcoins. It was first to market with a bitcoin exchange platform in the U.S. (others waited longer in order to get certain licensing) and Armstrong, its leader, is one of the most sensible thinkers in the industry. (His postexplaining the debate over block size distills the issue clearly.)
Bitcoin is partially based on a previous system called hashcash, an algorithm that cut down on email spam by requiring proof of work, an early form of what is now bitcoin “mining.” Back created hashcash. Now the cryptographer, as president of blockchain startup Blockstream, has become one of the loudest voices in the debate over whether, and how, to increase the size limit of transaction bundles (or “blocks”) on the bitcoin blockchain. His experience in business (he's worked as a consultant to Nokia) and in academia (he has a PhD in distributed systems) have made him a unique authority in the space. Reid Hoffman, the influential co-founder of LinkedIn (LNKD), made a personal investment of $21 million in Blockstream, and the company has raised $76 million overall.
Ethereum is a bitcoin alternative that some believe has more potential than bitcoin. The platform runs on a decentralized blockchain, like bitcoin’s, that allows for any peer-to-peer exchange of value, and it uses its own currency, Ether. And the company is a non-profit. Buterin developed the concept in 2013, and in 2014sold about 60 million ether in a pre-sale, which worked out to $18.4 million at the time. The Ethereum chain went live last summer. Buterin, who is only 22, is seen as a wunderkind; he also helped launch Bitcoin Magazine.
Reid Hoffmanhas calledWences Casares the “Patient Zero for bitcoin in Silicon Valley.” His startup Xapo was one of the earliest bitcoin wallet companies, though it's embroiled in a legal dispute with LifeLock, the company that acquired Casares’s previous startup, Lemon. (LifeLock alleges Casares and others created Xapo while still working at Lemon, within LifeLock; he has filed a counter-suit.) Most importantly, PayPal created a new seat on its board of directors for Casares in January. The appointment was seen as big news for bitcoin—a bitcoin entrepreneur on the board of PayPal was quite a milestone. And Xapo has raised $40 million in funding.
Masters is one of a kind in the bitcoin world. She spent nearly 30 years as a JPMorgan (JPM) executive, including as head of global commodities, before leaving to run Digital Asset Holdings, a startup that seeks to apply blockchain tech to Wall Street. Its first big client: her former employer. JPMorgan is working with Digital Asset Holdings to test out a use of blockchain to settle transactions faster. DAH has raised $60 million in funding. Because Masters is a known name on Wall Street, her move brought big legitimacy to the space. (And Masters isn't the onlyfemale leader in bitcoin:Catheryne Nicholsonis CEO of small blockchain startup BlockCypher, which has raised $3.5 million, andElizabeth Rossiellois CEO of BitPesa, which is working on bitcoin payments in Africa.)
Kraken is a bitcoin exchange headquartered in San Francisco, but with most of its activity in Europe. Here’s why that’s relevant: Last year, when the New York State Department of Financial Services (NYDFS) released its controversial regulatory framework for bitcoin companies, the Bitlicense, Krakenled a charge of bitcoin startups out of New York. The company won’t do business in the state, which is a financial risk but a compelling stance against what Powell and others see as restrictive legislation. Kraken, which has raised $6.5 million in funding, has stuck to that vow even as it has ramped up acquisitions lately,buying out Coinsetter, a U.S. exchange that itself had bought out Cavirtex, a Canadian exchange. Kraken's purchase of Coinsetter was the biggest ever M&A deal in the bitcoin space; Coinsetter did operate in New York, but now it won't—that's how rigid Powell is in his stance. Kraken is continuing to get bigger, but without New York, the very place where so much of the activity around blockchain is centered.
R3 CEV is the private firm that rolled out a consortium (the Distributed Ledger Group) for banks interested in exploring blockchain technology. More than 40 of them have signed on, including Bank of America (BAC), Citi (C), Deutsche Bank (DB) and Wells Fargo (WFC). And this month R3 announced an extensive test of online distributed ledgers for banks, with help from Chain, Ethereum (see No. 10) and IBM. It is R3 that has attracted institutions whose involvement can turn the abstract notion of "blockchain for banks” into a reality.
In 2004, Barry Silbert founded SecondMarket, which allows people to buy stock in non-public companies. He sold the company to Nasdaq last year and has since launched Digital Currency Group, the biggest investment firm in bitcoin and blockchain companies. (It has invested in more than 75.) Most recently, DCG bought the leading bitcoin news site, Coindesk, acquiring the annual bitcoin industry conference Consensus along with it. Almost every time a bitcoin startup announces a new fundraising round, Silbert and DCG are involved. Silbert also launched the Bitcoin Investment Trust (GBTC), whichtrades over-the-counterand is designed to track the price of bitcoin.
Srinivasan, the cofounder and CEO of 21 Inc, is also a board partner at Andreessen Horowitz. When 21 first launched publicly, it remained mysterious. It wasn’t clear what 21 would be doing, but observers had high expectations: The company raised more than any other bitcoin startup, $121 million in funding. Last year, 21 finally unveiled its first product —a small bitcoin personal computer for building apps on top of the bitcoin blockchain.
The Olympic rowers made their name when they sued Facebook (FB) cofounder Mark Zuckerberg and got $65 million. Since then, they’ve been eager to prove themselves as entrepreneurs, and they have made bitcoin the space in which to prove it. They launched a bitcoin pricing index, Winkdex, in 2014—the site is cleanly designed and tracks the price of bitcoin over time. This year, they launched Gemini, a bitcoin trading exchange. Like their pricing index, the design is appealing, but the user base is small. (Gemini is only doing an average $338,000 in trade volume per day, according to data from TradeBlock; by comparison, Kraken sees about $1.3 million in daily volume.) Their bigger ambition: the Winklevoss Bitcoin Trust, a bitcoin ETF, which will trade on the Nasdaq under the symbol COIN but still awaits regulatory approval. There are signs that the bitcoin community doesn’t love the Winklevoss brothers yet—one prominent bitcoin executivetold Fortune, “Our industry would prefer that if there’s a celebrity spokesperson, it not be them.” But the jetsetting duo certainly bring mainstream star power to bitcoin.
--
This is the third in a three-part Yahoo Finance series focused on blockchain technology. Thefirst partwas about why big banks are expressing interest in the blockchain; thesecond partwas about how you could invest in the blockchain.
Daniel Roberts is a writer at Yahoo Finance, covering sports business and technology.Read more:
Bitcoin advocacy group scores funding from biggest names in industry
Bitcoin industry consolidates: Why Kraken bought Coinsetter
Bitcoin's biggest investor bought its biggest news site
Here's a sign that PayPal is embracing Bitcoin
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417.96, 420.87, 420.90, 421.44, 424.03, 423.41, 422.74, 420.35, 419.41, 421.56
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Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 57424.01, 56396.52, 57356.40, 58803.78, 58232.32, 55859.80, 56704.57, 49150.54, 49716.19, 49880.54, 46760.19, 46456.06, 43537.51, 42909.40, 37002.44, 40782.74, 37304.69, 37536.63, 34770.58, 38705.98, 38402.22, 39294.20, 38436.97, 35697.61, 34616.07, 35678.13, 37332.86, 36684.93, 37575.18, 39208.77, 36894.41, 35551.96, 35862.38, 33560.71, 33472.63, 37345.12, 36702.60, 37334.40, 35552.52, 39097.86, 40218.48, 40406.27, 38347.06, 38053.50, 35787.25, 35615.87, 35698.30, 31676.69, 32505.66, 33723.03, 34662.44, 31637.78, 32186.28, 34649.64, 34434.34, 35867.78, 35040.84, 33572.12, 33897.05, 34668.55, 35287.78, 33746.00, 34235.20, 33855.33, 32877.37, 33798.01, 33520.52, 34240.19, 33155.85, 32702.03, 32822.35, 31780.73, 31421.54, 31533.07, 31796.81, 30817.83, 29807.35, 32110.69, 32313.11, 33581.55, 34292.45, 35350.19, 37337.54, 39406.94, 39995.91, 40008.42, 42235.55, 41626.20, 39974.89, 39201.95.
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[Bitcoin Technical Analysis for 2021-08-02]
Volume: 25595265436, RSI (14-day): 60.45, 50-day EMA: 36483.27, 200-day EMA: 38646.33
[Wider Market Context]
Gold Price: 1818.10, Gold RSI: 53.46
Oil Price: 71.26, Oil RSI: 48.14
[Recent News (last 7 days)]
Squares Cash App Q2 Bitcoin Revenue Rose 200%, Takes $45M Bitcoin Impairment Loss: Square, the company led by Twitter co-founder and CEO Jack Dorsey, said its Cash App services bitcoin revenue in the second quarter tripled to $2.72 billion from $875 million a year earlier, while its bitcoin gross profit jumped to $55 million from $17 million. Bitcoin revenue and gross profit benefited from year-over-year increases in the price of bitcoin and bitcoin activities and growth in customer demand, the payments services company said in its second-quarter financial letter to shareholders, which was released Sunday evening. Bitcoin revenue and gross profit declined from the first quarter, mainly because of relative price stability, which affected trading activity compared with prior quarters. Future quarters may see fluctuation in bitcoin revenue and gross profit as a result of changes in customer demand or market price, the letter says. During the second quarter, Square recognized an impairment loss of $45 million on the bitcoin the company holds. Because bitcoin is accounted for as an indefinite-lived intangible asset, if the value of bitcoin falls below the carrying value, an impairment is required. As of June 30, the fair value of the companys bitcoin investment was $281 million, $127 million greater than the carrying value. The company purchased its bitcoin for $50 million in last years fourth quarter and $170 million in the first quarter. Overall, the company posted second-quarters adjusted earnings of 66 cents per share, adjusted earnings before interest, taxes, depreciation and amortization (Ebitda) of $360 million and total revenue of $4.68 billion. The earnings per share and Ebitda were more than doubled analysts estimates of 31 cents as $178 million, according to FactSet. Separately, Square announced on Sunday that it agreed to buy Australian installment payment company Afterpay in an all-stock deal worth $29 billion based on Squares closing price on Friday. Related Stories Digital Asset Funds Suffered Outflows as Bitcoin Price Recovered Ether Prints Record Winning Streak as London Hard Fork Looms What Is Latin Americas Love for Bitcoin? Feat. Sebastian Serrano Bitcoin Slips Below $40K; Support Around $34K || Square’s Cash App Q2 Bitcoin Revenue Rose 200%, Takes $45M Bitcoin Impairment Loss: Square, the company led by Twitter co-founder and CEO Jack Dorsey, said its Cash App service’sbitcoinrevenue in the second quarter tripled to $2.72 billion from $875 million a year earlier, while its bitcoin gross profit jumped to $55 million from $17 million.
• Bitcoin revenue and gross profit benefited from year-over-year increases in the price of bitcoin and bitcoin activities and growth in customer demand, the payments services company said in its second-quarter financialletterto shareholders, which was released Sunday evening.
• Bitcoin revenue and gross profit declined from the first quarter, mainly because of relative price stability, which affected trading activity compared with prior quarters.
• Future quarters may see fluctuation in bitcoin revenue and gross profit as a result of changes in customer demand or market price, the letter says.
• During the second quarter, Square recognized an impairment loss of $45 million on the bitcoin the company holds. Because bitcoin is accounted for as an indefinite-lived intangible asset, if the value of bitcoin falls below the carrying value, an impairment is required.
• As of June 30, the fair value of the company’s bitcoin investment was $281 million, $127 million greater than the carrying value. The company purchased its bitcoin for $50 million in last year’s fourth quarter and $170 million in the first quarter.
• Overall, the company posted second-quarters adjusted earnings of 66 cents per share, adjusted earnings before interest, taxes, depreciation and amortization (Ebitda) of $360 million and total revenue of $4.68 billion. The earnings per share and Ebitda were more than doubled analysts’ estimates of 31 cents as $178 million, according to FactSet.
• Separately, Squareannouncedon Sunday that it agreed to buy Australian installment payment company Afterpay in an all-stock deal worth $29 billion based on Square’s closing price on Friday.
• Digital Asset Funds Suffered Outflows as Bitcoin Price Recovered
• Ether Prints Record Winning Streak as London Hard Fork Looms
• What Is Latin America’s Love for Bitcoin? Feat. Sebastian Serrano
• Bitcoin Slips Below $40K; Support Around $34K || Square’s Cash App Q2 Bitcoin Revenue Rose 200%, Takes $45M Bitcoin Impairment Loss: Square, the company led by Twitter co-founder and CEO Jack Dorsey, said its Cash App service’sbitcoinrevenue in the second quarter tripled to $2.72 billion from $875 million a year earlier, while its bitcoin gross profit jumped to $55 million from $17 million.
• Bitcoin revenue and gross profit benefited from year-over-year increases in the price of bitcoin and bitcoin activities and growth in customer demand, the payments services company said in its second-quarter financialletterto shareholders, which was released Sunday evening.
• Bitcoin revenue and gross profit declined from the first quarter, mainly because of relative price stability, which affected trading activity compared with prior quarters.
• Future quarters may see fluctuation in bitcoin revenue and gross profit as a result of changes in customer demand or market price, the letter says.
• During the second quarter, Square recognized an impairment loss of $45 million on the bitcoin the company holds. Because bitcoin is accounted for as an indefinite-lived intangible asset, if the value of bitcoin falls below the carrying value, an impairment is required.
• As of June 30, the fair value of the company’s bitcoin investment was $281 million, $127 million greater than the carrying value. The company purchased its bitcoin for $50 million in last year’s fourth quarter and $170 million in the first quarter.
• Overall, the company posted second-quarters adjusted earnings of 66 cents per share, adjusted earnings before interest, taxes, depreciation and amortization (Ebitda) of $360 million and total revenue of $4.68 billion. The earnings per share and Ebitda were more than doubled analysts’ estimates of 31 cents as $178 million, according to FactSet.
• Separately, Squareannouncedon Sunday that it agreed to buy Australian installment payment company Afterpay in an all-stock deal worth $29 billion based on Square’s closing price on Friday.
• Digital Asset Funds Suffered Outflows as Bitcoin Price Recovered
• Ether Prints Record Winning Streak as London Hard Fork Looms
• What Is Latin America’s Love for Bitcoin? Feat. Sebastian Serrano
• Bitcoin Slips Below $40K; Support Around $34K || August Poised for Upbeat Start With Stock Index Futures in the Green: Stocks were weighed down on Friday after Amazon shares took a tumble. All three major stock market indices finished the session in the red. And while the S&P 500 was down for the day, it clocked a gain for the month of July as a whole. Also on Friday, the Dow Jones Industrial Average fell almost 150 points, while the tech-heavy Nasdaq was down more than 100 points. That Was Then, This Is Now Stock index futures are trading in the green across the board on Sunday evening. At this rate, investors are poised to leave Fridays declines and inflation fears behind and begin the month of August on a positive note. Stocks to Watch Amazons stock plummeted 7.5% on Friday after the e-commerce giant fell short on the top line, a disappointment that hasnt happened in three years . As the economy has reopened, consumers have turned their attention to other things beyond online shopping. As a result, Amazons Q3 revenue is expected to similarly fall below Wall Street estimates, though it will likely remain above the USD 100 billion threshold. Amazon is not alone amid a trend among big tech companies where revenue is retreating from pandemic-related highs. Square reported its Q2 earnings sooner than expected. In the report, Square revealed that it is scooping up Afterpay, an Australia-based buy now, pay later (BNPL) startup, in a blockbuster USD 29 billion deal using all stock. Square CEO Jack Dorsey said that his company and Afterpay have a shared purpose. Square will integrate AfterPay into its Cash App and Seller divisions, giving more merchants the opportunity to offer BNPL. In Q2, Squares revenue soared more than 143% to USD 4.68 billion. Bitcoin revenue came in at USD 2.72 billion via the Cash App. Squares earnings call will take place on Monday. The call was originally planned for Aug. 5 but that one has been cancelled. Afterpay + Square! https://t.co/4UVDOtyI8a jack (@jack) August 1, 2021 Look Ahead The ISM Manufacturing index for the month of July will be released on Monday. Wells Fargo economists predict that the ISM index fell slightly due to the one-two punch of hiring challenges and supply-chain constraints that have taken a toll on the manufacturing sector. Story continues Construction spending data for June will also come out on Monday. Wells Fargo economists are expecting an increase of 0.6% in construction outlays. On the earnings front, Uber Technology reports its Q2 results on Wednesday. DraftKings will report its quarterly results on Friday. This article was originally posted on FX Empire More From FXEMPIRE: USD/JPY Fundamental Weekly Forecast Transitory Inflation Throws the Spotlight on US. Non-Farm Payrolls Price of Gold Fundamental Daily Forecast Choppy, Two-Sided Trading Could Become the Norm Over Short-Run Japan, South Korean Shares Pressured by Chinese Technology Crackdown, Renewed COVID-19 Concerns Ethereum, Litecoin, and Ripples XRP Daily Tech Analysis August 2nd, 2021 EOS, Stellars Lumen, and Trons TRX Daily Analysis August 2nd, 2021 Follow the Money: Major Players Betting on Vaccinations to Keep Global Economy Afloat || August Poised for Upbeat Start With Stock Index Futures in the Green: Stocks were weighed down on Friday afterAmazonshares took a tumble. All three major stock market indices finished the session in the red. And while theS&P 500was down for the day, it clocked a gain for the month of July as a whole. Also on Friday, theDow Jones Industrial Averagefell almost 150 points, while the tech-heavyNasdaqwas down more than 100 points.
Stock index futures are trading in the green across the board on Sunday evening. At this rate, investors are poised to leave Friday’s declines and inflation fears behind and begin the month of August on a positive note.
Amazon’s stock plummeted 7.5% on Friday after the e-commerce giant fell short on the top line, a disappointment that hasn’t happened inthree years. As the economy has reopened, consumers have turned their attention to other things beyond online shopping.
As a result, Amazon’s Q3 revenue is expected to similarly fall below Wall Street estimates, though it will likely remain above the USD 100 billion threshold. Amazon is not alone amid a trend among big tech companies where revenue is retreating from pandemic-related highs.
Squarereported its Q2 earnings sooner than expected. In the report, Square revealed that it is scooping up Afterpay, an Australia-based buy now, pay later (BNPL) startup, in a blockbuster USD 29 billion deal using all stock. Square CEO Jack Dorsey said that his company and Afterpay have a “shared purpose.” Square will integrate AfterPay into its Cash App and Seller divisions, giving more merchants the opportunity to offer BNPL.
In Q2, Square’s revenue soared more than 143% to USD 4.68 billion. Bitcoin revenue came in at USD 2.72 billion via the Cash App. Square’s earnings call will take place on Monday. The call was originally planned for Aug. 5 but that one has been cancelled.
The ISM Manufacturing index for the month of July will be released on Monday. Wells Fargo economists predict that the ISM index fell slightly due to the one-two punch of hiring challenges and supply-chain constraints that have taken a toll on the manufacturing sector.
Construction spending data for June will also come out on Monday. Wells Fargo economists are expecting an increase of 0.6% in “construction outlays.”
On the earnings front, Uber Technology reports its Q2 results on Wednesday. DraftKings will report its quarterly results on Friday.
Thisarticlewas originally posted on FX Empire
• USD/JPY Fundamental Weekly Forecast – ‘Transitory Inflation’ Throws the Spotlight on US. Non-Farm Payrolls
• Price of Gold Fundamental Daily Forecast – Choppy, Two-Sided Trading Could Become the Norm Over Short-Run
• Japan, South Korean Shares Pressured by Chinese Technology Crackdown, Renewed COVID-19 Concerns
• Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – August 2nd, 2021
• EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – August 2nd, 2021
• ‘Follow the Money’: Major Players Betting on Vaccinations to Keep Global Economy Afloat || NFT Game Developer Scammed Out Of $1M Of NFTs And Ethereum: Decrypt: The founder of an NFT game called Hedgie has been swindled out of over $1 million worth of NFTs and Ethereum. What Happened: The developer who uses the pseudonym “Stazie” revealed in a tweet on Saturday that he was scammed out of 16 CryptoPunk NFTs along with “a bunch of ETH ,” (CRYPTO: ETH) according to a report from Decrypt . He says the scammer posted a chance to win ten hard-to-find NFT avatars on CryptoPunk’s Discord server. The poster used the name “cryptopunksbot” and indicate the offer was being made to celebrate the project’s four-year anniversary. Stazie attempted to win the NFT s and logged onto a bogus website and entered his twelve-word seed phrase after being falsely notified the security of his Metamask wallet has been compromised. After sending the phrase to the scammer the NFT s and ETH were quickly removed from Stazie's wallet. Lesson Learned: Five of the 16 Cryptopunks have already been sold by the scammer for 149 ETH valued at $385,000. One has been transferred to another wallet and ten remain in the scammer’s wallet. “The whole thing happened like a bad dream, almost felt like I was hypnotized,” Stazie tweeted. “There was zero critical thinking, and this is beyond idiotic.” Photo By: Courtesy of Larva Labs See more from Benzinga Click here for options trades from Benzinga Bitcoin Mining Difficulty Increases For First Time Since May Amazon Needs to Invest Billions In Warehouse System To Keep Up With Demand: Reuters © 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || NFT Game Developer Scammed Out Of $1M Of NFTs And Ethereum: Decrypt: The founder of an NFT game called Hedgie has been swindled out of over $1 million worth of NFTs and Ethereum.
What Happened:The developer who uses the pseudonym “Stazie” revealed in a tweet on Saturday that he was scammed out of 16 CryptoPunk NFTs along with “a bunch ofETH,” (CRYPTO: ETH) according to a report fromDecrypt.
He says the scammer posted a chance to win ten hard-to-findNFTavatars on CryptoPunk’s Discord server. The poster used the name “cryptopunksbot” and indicate the offer was being made to celebrate the project’s four-year anniversary.
Stazie attempted to win theNFTs and logged onto a bogus website and entered his twelve-word seed phrase after being falsely notified the security of his Metamask wallet has been compromised. After sending the phrase to the scammer theNFTs and ETH were quickly removed from Stazie's wallet.
Lesson Learned:Five of the 16 Cryptopunks have already been sold by the scammer for 149 ETH valued at $385,000. One has been transferred to another wallet and ten remain in the scammer’s wallet. “The whole thing happened like a bad dream, almost felt like I was hypnotized,” Stazie tweeted. “There was zero critical thinking, and this is beyond idiotic.”
Photo By: Courtesy of Larva Labs
See more from Benzinga
• Click here for options trades from Benzinga
• Bitcoin Mining Difficulty Increases For First Time Since May
• Amazon Needs to Invest Billions In Warehouse System To Keep Up With Demand: Reuters
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Crypto Long & Short: What’s Going On With Tether?: This week, the crypto market again shrugged off bad press for one of its most critical service providers. The issuers of the stablecoin tether ( USDT ) are reportedly in the sights of the U.S. Department of Justice for misleading banks about the nature of their business. That’s not really news, and the market’s lack of a reaction to it was predictable. What’s interesting is something that’s been going on since the end of May: Tether’s growth has gone completely flat. This column originally appeared in Crypto Long & Short , CoinDesk’s weekly newsletter featuring insights, news and analysis for the professional investor. Sign up for Crypto Long & Short here. Related: Digital Asset Funds Suffered Outflows as Bitcoin Price Recovered The chart here shows the supply of tether and USDC ( USDC ), the second-largest stablecoin by supply. Since the end of May, tether’s supply has been stuck at $64.3 billion. The two-month doldrums is remarkable for a currency that had tripled between Jan. 1 and May 31. Tether has long been dogged by allegations that it’s not backed by real dollars – that its issuers are pumping up the price of cryptocurrencies using units of tether issued out of thin air. Obviously, traders either don’t believe that or don’t care: Tether has largely kept its peg to the dollar, even if its financials may be dodgy. Trading crypto implies a certain degree of comfort with risk. I guess nobody goes to the cashier’s window at the Bellagio and demands to see the casino’s audited balance statements, either. Still, the question of tether’s solvency is one of systemic importance. Tether and other stablecoins act as money-market funds in crypto markets. Tether is used mostly in offshore venues like Binance. The difference between these offshore exchanges and a casino is that price discovery happens on these venues. Related: Ether Prints Record Winning Streak as London Hard Fork Looms Story continues Tether could be part of a market-crash scenario, in which a sudden flood of discounted tether crashes the price of bitcoin or other liquid crypto assets. It’s unlikely to have the kind of systemic impact that fell out from the run on Lehman Brothers’ money-market fund, the Reserve Primary Fund, in 2008. That event precipitated a run on all money-market funds . Tether is different from stablecoins like USDC that are more directly overseen by U.S. regulators, and it goes beyond how one money-market fund differs from another. Even as its growth has slowed, and then stagnated, growth in USDC has continued, as the chart below shows. That’s not due to some kind of flight from tether into the relative safety of a more regulated stablecoin, as tether’s maintenance of its $64.3 billion supply shows. It’s more likely the influx of new investors who can’t, or won’t, deal in tether or trade on offshore exchanges. That would include professionals and institutions, especially those that have fiduciary responsibility for investor funds. That underscores the difference between tether and USDC: These aren’t two flavors of the same thing. One is overseen by U.S. regulators, the other isn’t (apart from abiding by a settlement with the New York attorney general’s office). As such, they are different kinds of products, used by different users in different places. It wouldn’t be smart to assume that a crisis of confidence among offshore traders using tether would spread to other stablecoins. In that light, tether may not be systemically important in the same way the Lehman Brothers’ money-market fund was. But the risk of a tether crash is a systemic risk that underlies any investment in crypto assets. UPDATE (Aug. 2, 03:30 UTC): Corrects third sentence of final paragraph and first sentence of eighth paragraph. (Neither USDC nor USDT has been fully audited; both publish monthly attestations of reserves. ) Related Stories Bitcoin Price Over $41K After Longest Streak in 8 Years Market Wrap: Bitcoin Hits Two-Month High After Late-Day Surge || Crypto Long & Short: What’s Going On With Tether?: This week, the crypto market again shrugged off bad press for one of its most critical service providers. The issuers of the stablecointether(USDT) are reportedly in thesights of the U.S. Department of Justicefor misleading banks about the nature of their business.
That’s not really news, and the market’s lack of a reaction to it was predictable. What’s interesting is something that’s been going on since the end of May: Tether’s growth has gone completely flat.
This column originally appeared inCrypto Long & Short,CoinDesk’s weekly newsletter featuring insights, news and analysis for the professional investor.Sign up for Crypto Long & Short here.
Related:Digital Asset Funds Suffered Outflows as Bitcoin Price Recovered
The chart here shows the supply of tether andUSDC(USDC), the second-largest stablecoin by supply. Since the end of May, tether’s supply has been stuck at $64.3 billion. The two-month doldrums is remarkable for a currency that had tripled between Jan. 1 and May 31.
Tether has long been dogged by allegations that it’s not backed by real dollars – that its issuers are pumping up the price of cryptocurrencies using units of tether issued out of thin air. Obviously, traders either don’t believe that or don’t care: Tether has largely kept its peg to the dollar, even if its financials may be dodgy.
Trading crypto implies a certain degree of comfort with risk. I guess nobody goes to the cashier’s window at the Bellagio and demands to see the casino’s audited balance statements, either.
Still, the question of tether’s solvency is one of systemic importance. Tether and other stablecoins act as money-market funds in crypto markets. Tether is used mostly in offshore venues like Binance. The difference between these offshore exchanges and a casino is that price discovery happens on these venues.
Related:Ether Prints Record Winning Streak as London Hard Fork Looms
Tether could be part of a market-crash scenario, in which a sudden flood of discounted tether crashes the price ofbitcoinor other liquid crypto assets. It’s unlikely to have the kind of systemic impact that fell out from the run on Lehman Brothers’ money-market fund, the Reserve Primary Fund, in 2008. That event precipitated arun on all money-market funds.
Tether is different from stablecoins like USDC that are more directly overseen by U.S. regulators, and it goes beyond how one money-market fund differs from another. Even as its growth has slowed, and then stagnated, growth in USDC has continued, as the chart below shows.
That’s not due to some kind of flight from tether into the relative safety of a more regulated stablecoin, as tether’s maintenance of its $64.3 billion supply shows. It’s more likely the influx of new investors who can’t, or won’t, deal in tether or trade on offshore exchanges. That would include professionals and institutions, especially those that have fiduciary responsibility for investor funds.
That underscores the difference between tether and USDC: These aren’t two flavors of the same thing. One is overseen by U.S. regulators, the other isn’t (apart from abiding by asettlementwith the New York attorney general’s office). As such, they are different kinds of products, used by different users in different places. It wouldn’t be smart to assume that a crisis of confidence among offshore traders using tether would spread to other stablecoins. In that light, tether may not be systemically important in the same way the Lehman Brothers’ money-market fund was. But the risk of a tether crash is a systemic risk that underlies any investment in crypto assets.
UPDATE (Aug. 2, 03:30 UTC):Corrects third sentence of final paragraph and first sentence of eighth paragraph. (Neither USDC nor USDT has been fully audited; both publish monthlyattestationsof reserves.)
• Bitcoin Price Over $41K After Longest Streak in 8 Years
• Market Wrap: Bitcoin Hits Two-Month High After Late-Day Surge || Elon Musk, Marissa Mayer and 25 More CEOs That Have Saved or Sunk Major Corporations: For a company to achieve success, it needs astrong leader at the helm. Top-performing CEOs can transform sinking businesses into profit-making corporations -- but not all leaders have the magic touch. Some CEOs are now known for turning failed companies around, whereas others are largely credited with the demise of the corporation they founded or led.
See:Top 10 Female CEOs to WatchFind:LinkedIn Released Its List of Top Companies – These Are the Best Places to Grow Your Career Now
One company currently facing an uncertain fate is Tesla, led by CEO Elon Musk. The savvy electric car company beat Wall Street earnings estimates for the first quarter of 2021, Investors Business Daily reported. However, it was the sale of regulatory credits and Bitcoin, and not electric vehicle sales, that drove the company's profits.
See:The Most Outrageous CEO Salaries and Perks
Although Musk noted in the Q1 earnings statement that Tesla would begin delivering its Model S vehicles in May, it was June before delivery began. And now, barely a week before Tesla is due to announce its Q2 earnings, deliveries are on hold, according to Electrek, with no clear indication of how long or why. But experts see positive signs for the company ahead of the July 26 earnings release.
While that plays out, click through to find out which famous CEOs really earned their high-price salaries -- as well as which CEOs didn't deserve that big paycheck.
Last updated: July 27, 2021
General Motors chairman and CEO Mary Barra was crowned No. 1 on Fortune's list of the most powerful women in 2017. When Barra ascended to her position as CEO in 2014, she was called a "lightweight" by a Wall Street investment banker, reported Reuters -- but she has since proven her critics wrong in many different arenas.
In the last few years, Barra has guided GM through its post-bankruptcy recovery, navigated a widespread vehicle recall and public relations crisis, and helped the company turn a consistent profit. Under her leadership, GM began a ride-sharing service called Maven, invested in self-driving technology and came out on top amid competition from Tesla in the affordably priced electric car market.
In the second quarter of 2018, GM earned $36.76 billion in revenue -- slightly beating estimates -- and its China division reached an all-time high of 858,000 deliveries. In November 2018, GM announced the potential closing of five plants in North America in part of a plan to cut $6 billion in costs by 2020.
GM's momentum has continued into 2021. First-quarter earnings beat Wall Street expectations despite production delays due to a shortage of semiconductor chips, and the company expects to see earnings or $4.50 to $5.25 per share by the end of the year.
Explore:How Many Minutes Does It Take a CEO To Earn Your Annual Salary?
In 1985, then-Apple CEO John Sculley fired Steve Jobs,co-founder of the tech company. When Jobs returned as CEO in 1997, Apple was nearly bankrupt.
Jobs sprung into action by brokering a deal with Microsoft to invest $150 million in nonvoting stock and to keep making its Office software for Macintosh. To streamline the company, he cut the number of Apple products by 70%, which led to approximately 3,000 employees losing their jobs. His gamble paid off -- the company generated a $309 million profit in the 1998 fiscal year.
Sadly, Jobs succumbed to pancreatic cancer in October 2011. Now led by Tim Cook, Apple is one of the most successful corporations in the world -- it became the first publicly-traded company in the U.S. to hit a market cap of $1 trillion.
Discover:Who Is the Highest Paid CEO in Your State?
During his tenure as Apple CEO from 1983 to 1993, John Sculley committed the ultimate business fail -- he fired Steve Jobs in 1985. Sculley was forced out of the company in 1993 over a dispute with the board about licensing Macintosh software to other computer makers.
Sculley was opposed to the licensing idea, which the company went ahead with -- and it was the first thing Jobs canceled upon his return. In a February 2015 interview with CNN, Sculley revealed he regrets not hiring Jobs back because he believes this would have saved Apple from near bankruptcy in the late 1990s.
Read:CEO Pay Surged as Revenue Plummeted in 2020 Amidst Pandemic
Michael Eisner stepped down as CEO of The Walt Disney Co. in 2005, but his legacy lives on. He took the reins in 1984, and during his 21 years of leadership grew Disney’s annual revenues from $1.5 billion in the year he assumed the top job to $30.75 billion in 2004.
Under his watch, the company opened several new theme parks worldwide, and the number of employees grew from 28,000 to 129,000. Eisner also spearheaded the Disney cruise ship line, a stage play division and multiple domestic cable channels -- including ESPN.
See:The Most Outrageous CEO Salaries and Perks
Since Tesla was founded in 2003, CEO Elon Musk has helped the company score some major wins. In the second quarter of 2018, Tesla achieved a milestone in producing 5,000 Model 3 vehicles per week and increased its revenue to $4 billion from $2.79 billion in 2017, which surpassed analysts’ estimates.
However, investors and analysts remain cautious about the brand's recovery from Musk's controversial behavior earlier in 2018. Tesla has already lost support from some of its most staunch advocates -- including Instinet, formerly a big bull on Tesla -- and shares fell 2.1% on Sept. 11, 2018. Things looked bleak for the automaker as it reported a $408 million loss in the second quarter of 2019 and experienced the first half in the red.
However, Tesla saw its first profitable year in 2020. That the profit stemmed primarily from the sale of regulatory credits and Bitcoin made some analysts squeamish, as did the company's $1.5 billion investment in Bitcoin and its brief experiment with accepting Bitcoin payments. However, Tesla also announced record Q2 2021 deliveries ahead of its Q2 earnings release, so only time will tell whether Musk ends up saving Tesla -- or sinking it.
Explore:How Many Minutes Does It Take a CEO to Earn Your Annual Salary?
When Marissa Mayer took the reins as Yahoo's CEO in July 2012, Silicon Valley was hopeful that Google’s 20th employee could save the struggling tech company.
Under Mayer's watch, Yahoo made some big moves -- including purchasing blogging site Tumblr for $1.1 billion in 2013 -- but failed to halt revenue declines. In the fourth quarter of 2015, the company reported a $4.4 billion loss, which prompted Mayer to cut 15% of its workforce.
Yahoo finalized its sale to Verizon for $4.5 billion in June 2017. Mayer resigned at the closing of the deal and walked away with nearly $260 million -- $23 million in severance pay and about 4.5 million shares of Yahoo that were worth more than $236 million at the time.
Check Out:4 CEOS at Remote Companies on the Challenges of Never Going Back to an Office
Michael Eisner left big shoes to fill, but Bob Iger proved he was up for the challenge. The Walt Disney Co.’s CEO since 2005, Iger pitched buying Pixar Animation Studios to the board on his second day of work.
Disney acquired Pixar for $7.4 billion in 2006, followed by its $4 billion purchase of Marvel Entertainment in 2009 and its procurement of Lucasfilm for $4 billion in 2012. Consequently, Iger has turned Disney into a media powerhouse. In December 2017, Disney extended Iger’s contract as chairman and CEO through December 2021. In 2019, Iger caught heat from Abigail Disney, heiress to the company, for the largely different pay gap in Iger's salary and that of Disneyland employees. Disney stated in May of that year that it was a "moral issue" while testifying in front of the U.S. House Committee on Financial Services.
Iger stepped down as CEO in February 2020 to become the company's executive chairman.
Related:Disney's Bob Iger and More Who Went From Entry Level to CEO
After co-founding Uber in 2009, Travis Kalanick turned the ride-sharing app into a business with a market capitalization of $88.25 billion as of July 23. Building the world’s most valuable startup is impressive, but in 2017, Kalanick’s leadership skills culminated in several public relations nightmares -- he resigned in June 2017.
Under Kalanick’s watch, Uber lost approximately $2.8 billion in 2016. Much of this was due to expanding the app to China, which ultimately cost the company more than $1 billion per year, Kalanick revealed in February 2016. Uber finally sold its China business to rival Didi Chuxing, CNBC reported in August 2016.
In August 2017, Uber named Dara Khosrowshahi as CEO -- he previously served as the CEO of Expedia.
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He didn’t found Starbucks, but Howard Schultz is credited with turning the company into the world’s largest coffee business as of 2015. Schultz acquired Starbucks in 1987, and now the coffee chain has over 30,000 stores worldwide.
In 2000, Schultz stepped down as CEO, but he returned to the position in 2008. During the year leading up to his comeback, Starbucks stock had lost half its value, which forced Schultz to close underperforming stores and cut a thousand jobs to get the company back on track. His strategy worked. The coffee giant earned $22.4 billion in net revenues in 2017, and its market cap has grown to approximately $148 billion as of July 2021.
Schultz stepped down as CEO inApril 2017 and vacated his executive chairman role in June 2018.
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In October 2016, John Stumpf resigned from Wells Fargo after 34 years of service. Having held the CEO position since June 2007, Stumpf turned in his resignation after his poor handling of a scandal regarding more than 2 million customer accounts that were opened by Wells Fargo employees without telling the customers.
During two congressional hearings, Stumpf blamed low-level employees instead of holding himself and other top executives accountable, according to USA Today. Tim Sloan -- the company's president and COO at the time -- took over, but 1.4 million more fake accounts from the Stumpf era were publicly revealed in August 2017.
Wells Fargo initially pledged to pay $6.1 million to refund customers for unauthorized bank and credit card accounts, $910,000 for illicit online bill pay enrollments and $142 million for fraudulent accounts opened since 2002, according to CNN. However, the company ultimately reached a $3 billion settlement on its criminal charges and civil actions, The New York Times reported in February.
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Hubert Joly was named Best Buy's CEO in August 2012. He ran the company until June 2019, when Corie Barry took over as part of a "planned leadership transition," according to a statement on the BestBuy corporate website.
Critics initially deemed Joly unqualified for the job and predicted the retailer would follow in the footsteps of its failed competitors like Circuit City, but they were very wrong.
Joly’s “Renew Blue” program helped Best Buy reverse declining sales, improve customer satisfaction and increase profitability by growing online sales and cutting costs. In the second quarter of 2018, Best Buy reported results that exceeded expectations -- diluted earnings per share increased by 28% from a year ago. Best Buy has also moved into dealmaking in technology by acquiring health-services platform GreatCall and senior remote monitoring company Critical Signal Technologies.
In its announcement that Joly would become executive chairman, a role he still holds, BestBuy credited him with having "led the company through a successful turnaround over the past seven years."
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Before leading an unsuccessful campaign for the 2016Republican presidential bid, Carly Fiorina was the CEO of Hewlett-Packard. She took the company’s top spot in 1999 and remained in place for six years until the board removed her in 2005.
The first woman to lead a Fortune 100 company, Fiorina spearheaded HP’s largely unpopular merger with Compaq, which ultimately culminated in sizable layoffs and a steep plunge in the company's stock price, according to CBS News. Fiorina was so unpopular as HP's leader that when news of her departure broke, company stock prices immediately soared nearly 11%, closing the day up almost 7%.
Read:CEO Pay Surged as Revenue Plummeted in 2020 Amidst Pandemic
One of the top CEOs of all time, Meg Whitman joined eBay as president and CEO inMarch 1998. At the time, the online marketplace had 30 employees, 500,000 registered users and $4.7 million in revenue.
Before stepping down in January 2008, Whitman turned eBay into a global powerhouse. At the time of her departure, the company had more than 15,000 employees, hundreds of millions of registered users worldwide and almost $7.7 billion in revenue.
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Jonathan Schwartz’s tenure as CEO of Sun Microsystems from 2006 to 2010 ended with the company’s acquisition. After Sun Microsystems lost $2.2 billion in its last year of fiscal independence, Oracle announced plans to buy the tech company for $7.4 billion -- or $5.6 billion after its cash and debt -- in 2009.
Oracle’s then-CEO, Larry Ellison, blamed the company’s downfall on Schwartz, accusing him of ignoring problems as they escalated, making poor strategic decisions and spending too much time on his blog, according to Reuters.
Schwartz shared news of his departure in an unconventional manner -- he tweeted a haiku to announce his resignation.
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In 1994, Jeff Bezos founded the online bookstore Amazon. Expecting to fail, he gave himself a 30% chance of success, according to the Los Angeles Times.
Fast forward to present day and -- as of July 20210 -- the company has a market cap over $1.83 billion. As an online marketplace that sells everything from shoes to dog food, Amazon had its first $100 billion quarter in Q4 2020 driven by holiday shopping bolstered by the pandemic.
Now the richest person on earth, Bezos isn't afraid to take risks or go through changes. From launching Amazon Original television series to buying Whole Foods and founding Blue Origin, the aerospace company that recently made Bezos the second CEO in history to fly in space, he’s focused on innovation.
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Kenneth Lay became CEO of natural gas provider Enron in 1986 as it was formed in a merger between Houston Natural Gas and InterNorth Inc. At its peak, he had grown the company into an energy giant valued at roughly $68 billion.
Top executive Jeffrey Skilling briefly became CEO in 2001 but resigned a few months later. In December, Enron filed the then-largest corporate bankruptcy in U.S. history.
The Securities and Exchange Commission charged Lay with fraud and insider trading in July 2004. Among other allegations, he was accused of garnering illegal proceeds totaling more than $90 million in 2001. One of the most legendary failed CEOs of all time, Lay was convicted on six counts of fraud and conspiracy in May 2006 but died in July 2006.
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When Lee Iacocca joined Chrysler Corp. in 1978, the company was failing. After one year on the job, as CEO, he convinced the government to bail the automaker out by supplying $1.5 billion in federally backed loans.
After securing the necessary capital, he resuscitated the company by launching a series of groundbreaking automobiles, including the mid-sized K-car line and the first minivans. The success of the vehicles -- paired with cost-saving measures -- enabled Chrysler to pay back those loans seven years early and save 600,000 jobs, according to The Washington Post. Iacocca stepped down from Chrysler in 1992.
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On the surface, Eckhard Pfeiffer was a success as CEO of the computer company Compaq. When he took the reins in 1991, the company had $3.3 billion in annual revenues -- a figure that rose to $14.8 billion by 1996.
Despite his gains, the company’s board wasn’t pleased with his performance, so Pfeiffer agreed to resign in 1999. Accused of focusing on growing the company instead of catering to its target market, he received approximately $6 million in severance pay and roughly $70 million worth of stock options.
Compaq never recovered. In 2002, Hewlett-Packard acquired the company in a stock swap valued at roughly $25 billion.
Find Out:Where These 51 CEOs Went to College
When Douglas Conant become CEO of Campbell’s Soup in 2001, the company’s stock prices were quickly tumbling. Realizing the company had a toxic culture, he made it his mission to improve employee engagement.
Wearing a pedometer, Conant pledged to walk 10,000 steps per day at work and interact with as many employees as possible. He also wrote up to 20 notes per day to staffers, honoring their successes and thanking them for their contributions.
By 2009, the company had organically boosted its sales and earnings enough to outperform both the S&P Food Group and the S&P 500. Conant stepped down in July 2011.
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The CEO of Merrill Lynch from 2002 to 2007, Stan O’Neal is considered by many as one of the players responsible for the 2008 financial crisis. Known for his confident, ruthless management style, he turned healthy profits for the firm from 2003 to 2007.
In a 2010 interview with Fortune, O’Neal claimed he didn’t understand the magnitude of the firm’s $45 million collateralized debt obligations that were buried in its books. In August 2007, he began exploring the issue and realized the firm was in big trouble.
O’Neal stepped down in October 2007. Merrill Lynch lost around $8 billion in 2007 on mortgage foreclosures and delinquencies. In September 2008, Bank of America announced plans to purchase the firm for $50 billion.
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Considered an unlikely choice for CEO at the time, Anne Mulcahy ran Xerox from August 2001 to June 2009. Praised for her focus on innovation, she quickly boosted company profits.
In 2000, Xerox lost $273 million. When Mulcahy took over in 2001, the company had more than $17 billion in debt and was nearing Chapter 11 bankruptcy. She immediately employed cost-cutting measures but remained focused on research and development. Under Mulcahy’s watch, the company generated $91 million in net income by 2003, which rose to $859 million by the next year.
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Bernard Ebbers was the CEO of WorldCom Inc. from 1985 to 2002. In March 2004, he was charged with conspiracy and securities fraud for his participation in a scandal to falsely inflate WorldCom common stock prices.
The scheme totaled $11 billion in fraud and Ebbers was found guilty on nine counts of accounting fraud. He began serving a 25-year prison sentence in September 2006.
WorldCom filed for bankruptcy in 2002 due to the scandal. The company changed its name to MCI in 2004 and Verizon bought it for $6.7 billion in 2006.
Read:CEO Pay Surged as Revenue Plummeted in 2020 Amidst Pandemic
United Airlines purchased Continental Airlines for $3.2 billion in 2010, but the end of the company’s era had nothing to do with Gordon Bethune. Serving as the CEO from 1994 to 2004, he revived the failing carrier.
In a 2015 interview with Free Enterprise, Bethune cited poor management as the reason for the airline’s consistently low customer satisfaction ratings when he took the helm. He said he turned the airline into the highest-rated among passengers by making it a better place to work.
Continental lost roughly $600 million in 1994 but earned $225 million in 1995, according to Bethune. He credited the shift to a focus on employee satisfaction initiatives, including treating staffers right, getting to know them and earning their trust.
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Robert Nardelli had a good first five years as Home Depot's CEO. When he joined the company in 2000, annual sales were $46 billion, and they rose to $81.5 billion in 2005.
The housing slowdown in 2006 stalled sales, and the retailer’s stock price tumbled to just more than $40 per share -- around the same place it was at when he started. Investors began to get frustrated with Nardelli’s $200 million pay package and felt it wasn’t aligned with his performance.
Nardelli was willing to give up his guaranteed $3 million bonus but refused to take a pay cut. Wall Street cheered his January 2007 departure because analysts believed investors were not confident in his leadership abilities. The company’s sales reached $132.1 billion in 2020, which indicates Nardelli is long-forgotten.
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When stepping into the role of J.C. Penney CEO inAugust 2015, Marvin Ellison worked hard to revive the struggling retailer. In 2016, the company had a positive net income for the first time since 2010, generating $514 million more in total earnings than in 2015.
In an effort to boost sales, Ellison reinvested in J.C. Penney's hair salons. He also invested more in affordable brands and aimed to bring back some of the old department store charm that could bring customers back.
However, Ellison left the company in 2018 after it took a turn downward with a $69 million loss in the first quarter of 2018. And it's still struggling. A court approved the sale of J.C. Penney in November 2020. The move pulled the company out of bankruptcy, but analysts say the odds are still stacked against its survival.
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When Bill Gates stepped down as Microsoft CEO to focus on philanthropy in 2000, Steve Ballmer assumed the role. In September 2000, the tech company was valued at $642 billion, but by the time he left in February 2014, it was worth only approximately $315 billion.
A lack of innovation and slew of flopped initiatives -- including the Windows phone, Bing and Microsoft Surface devices -- made it impossible for the company to keep up with competitors like Apple and Google.
The Ballmer effect doesn’t appear to have left a permanent mark on Microsoft. Under the direction of current CEO Satya Nadella, its market capitalization sits at a staggering $2.18 trillion as of July 2021.
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Credited as the man who saved Ford, Alan Mulally took control of the company in 2006. That year alone, the troubled automaker lost $12.7 billion, according to The New York Times.
Mulally worked hard to make change happen, shifting the cutthroat company culture to one based on collaboration and efficiency. He also mortgaged $23.5 billion in company assets to create a cash infusion to revive Ford’s vehicle roster. When Mulally retired from Ford in 2014, it had a net income of nearly $3.2 billion.
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Daria Uhligcontributed to the reporting for this article.
This article originally appeared onGOBankingRates.com:Elon Musk, Marissa Mayer and 25 More CEOs That Have Saved or Sunk Major Corporations || Elon Musk, Marissa Mayer and 25 More CEOs That Have Saved or Sunk Major Corporations: Mike Windle / Getty Images For a company to achieve success, it needs a strong leader at the helm . Top-performing CEOs can transform sinking businesses into profit-making corporations -- but not all leaders have the magic touch. Some CEOs are now known for turning failed companies around, whereas others are largely credited with the demise of the corporation they founded or led. See: Top 10 Female CEOs to Watch Find: LinkedIn Released Its List of Top Companies These Are the Best Places to Grow Your Career Now One company currently facing an uncertain fate is Tesla, led by CEO Elon Musk. The savvy electric car company beat Wall Street earnings estimates for the first quarter of 2021, Investors Business Daily reported. However, it was the sale of regulatory credits and Bitcoin, and not electric vehicle sales, that drove the company's profits. See: The Most Outrageous CEO Salaries and Perks Although Musk noted in the Q1 earnings statement that Tesla would begin delivering its Model S vehicles in May, it was June before delivery began. And now, barely a week before Tesla is due to announce its Q2 earnings, deliveries are on hold, according to Electrek, with no clear indication of how long or why. But experts see positive signs for the company ahead of the July 26 earnings release. While that plays out, click through to find out which famous CEOs really earned their high-price salaries -- as well as which CEOs didn't deserve that big paycheck. Last updated: July 27, 2021 John F. Martin / General Motors Mary Barra: General Motors General Motors chairman and CEO Mary Barra was crowned No. 1 on Fortune's list of the most powerful women in 2017. When Barra ascended to her position as CEO in 2014, she was called a "lightweight" by a Wall Street investment banker, reported Reuters -- but she has since proven her critics wrong in many different arenas. In the last few years, Barra has guided GM through its post-bankruptcy recovery, navigated a widespread vehicle recall and public relations crisis, and helped the company turn a consistent profit. Under her leadership, GM began a ride-sharing service called Maven, invested in self-driving technology and came out on top amid competition from Tesla in the affordably priced electric car market. Story continues In the second quarter of 2018, GM earned $36.76 billion in revenue -- slightly beating estimates -- and its China division reached an all-time high of 858,000 deliveries. In November 2018, GM announced the potential closing of five plants in North America in part of a plan to cut $6 billion in costs by 2020. GM's momentum has continued into 2021. First-quarter earnings beat Wall Street expectations despite production delays due to a shortage of semiconductor chips, and the company expects to see earnings or $4.50 to $5.25 per share by the end of the year. Explore: How Many Minutes Does It Take a CEO To Earn Your Annual Salary? David Paul Morris / Getty Images Steve Jobs: Apple In 1985, then-Apple CEO John Sculley fired Steve Jobs, co-founder of the tech company. When Jobs returned as CEO in 1997, Apple was nearly bankrupt. Jobs sprung into action by brokering a deal with Microsoft to invest $150 million in nonvoting stock and to keep making its Office software for Macintosh. To streamline the company, he cut the number of Apple products by 70%, which led to approximately 3,000 employees losing their jobs. His gamble paid off -- the company generated a $309 million profit in the 1998 fiscal year. Sadly, Jobs succumbed to pancreatic cancer in October 2011. Now led by Tim Cook, Apple is one of the most successful corporation s in the world -- it became the first publicly-traded company in the U.S. to hit a market cap of $1 trillion. Discover: Who Is the Highest Paid CEO in Your State? Brad Barket / Getty Images John Sculley: Apple During his tenure as Apple CEO from 1983 to 1993, John Sculley committed the ultimate business fail -- he fired Steve Jobs in 1985. Sculley was forced out of the company in 1993 over a dispute with the board about licensing Macintosh software to other computer makers. Sculley was opposed to the licensing idea, which the company went ahead with -- and it was the first thing Jobs canceled upon his return. In a February 2015 interview with CNN, Sculley revealed he regrets not hiring Jobs back because he believes this would have saved Apple from near bankruptcy in the late 1990s. Read: CEO Pay Surged as Revenue Plummeted in 2020 Amidst Pandemic Carlo Allegri / Getty Images Michael Eisner: Disney Michael Eisner stepped down as CEO of The Walt Disney Co. in 2005, but his legacy lives on. He took the reins in 1984, and during his 21 years of leadership grew Disneys annual revenues from $1.5 billion in the year he assumed the top job to $30.75 billion in 2004. Under his watch, the company opened several new theme parks worldwide, and the number of employees grew from 28,000 to 129,000. Eisner also spearheaded the Disney cruise ship line, a stage play division and multiple domestic cable channels -- including ESPN. See: The Most Outrageous CEO Salaries and Perks BEN MACMAHON/EPA/REX/Shutterstock Elon Musk: Tesla Since Tesla was founded in 2003, CEO Elon Musk has helped the company score some major wins. In the second quarter of 2018, Tesla achieved a milestone in producing 5,000 Model 3 vehicles per week and increased its revenue to $4 billion from $2.79 billion in 2017, which surpassed analysts estimates. However, investors and analysts remain cautious about the brand's recovery from Musk's controversial behavior earlier in 2018. Tesla has already lost support from some of its most staunch advocates -- including Instinet, formerly a big bull on Tesla -- and shares fell 2.1% on Sept. 11, 2018. Things looked bleak for the automaker as it reported a $408 million loss in the second quarter of 2019 and experienced the first half in the red. However, Tesla saw its first profitable year in 2020. That the profit stemmed primarily from the sale of regulatory credits and Bitcoin made some analysts squeamish, as did the company's $1.5 billion investment in Bitcoin and its brief experiment with accepting Bitcoin payments. However, Tesla also announced record Q2 2021 deliveries ahead of its Q2 earnings release, so only time will tell whether Musk ends up saving Tesla -- or sinking it. Explore: How Many Minutes Does It Take a CEO to Earn Your Annual Salary? Kimberly White / Getty Images Marissa Mayer: Yahoo When Marissa Mayer took the reins as Yahoo's CEO in July 2012, Silicon Valley was hopeful that Googles 20th employee could save the struggling tech company. Under Mayer's watch, Yahoo made some big moves -- including purchasing blogging site Tumblr for $1.1 billion in 2013 -- but failed to halt revenue declines. In the fourth quarter of 2015, the company reported a $4.4 billion loss, which prompted Mayer to cut 15% of its workforce. Yahoo finalized its sale to Verizon for $4.5 billion in June 2017. Mayer resigned at the closing of the deal and walked away with nearly $260 million -- $23 million in severance pay and about 4.5 million shares of Yahoo that were worth more than $236 million at the time. Check Out: 4 CEOS at Remote Companies on the Challenges of Never Going Back to an Office Scott Olson / Getty Images Bob Iger: Disney Michael Eisner left big shoes to fill, but Bob Iger proved he was up for the challenge. The Walt Disney Co.s CEO since 2005, Iger pitched buying Pixar Animation Studios to the board on his second day of work. Disney acquired Pixar for $7.4 billion in 2006, followed by its $4 billion purchase of Marvel Entertainment in 2009 and its procurement of Lucasfilm for $4 billion in 2012. Consequently, Iger has turned Disney into a media powerhouse. In December 2017, Disney extended Igers contract as chairman and CEO through December 2021. In 2019, Iger caught heat from Abigail Disney, heiress to the company, for the largely different pay gap in Iger's salary and that of Disneyland employees. Disney stated in May of that year that it was a "moral issue" while testifying in front of the U.S. House Committee on Financial Services. Iger stepped down as CEO in February 2020 to become the company's executive chairman. Related: Disney's Bob Iger and More Who Went From Entry Level to CEO Steve Jennings / Getty Images Travis Kalanick: Uber After co-founding Uber in 2009, Travis Kalanick turned the ride-sharing app into a business with a market capitalization of $88.25 billion as of July 23. Building the worlds most valuable startup is impressive, but in 2017, Kalanicks leadership skills culminated in several public relations nightmares -- he resigned in June 2017. Under Kalanicks watch, Uber lost approximately $2.8 billion in 2016. Much of this was due to expanding the app to China, which ultimately cost the company more than $1 billion per year, Kalanick revealed in February 2016. Uber finally sold its China business to rival Didi Chuxing, CNBC reported in August 2016. In August 2017, Uber named Dara Khosrowshahi as CEO -- he previously served as the CEO of Expedia. Discover: Who Is the Highest Paid CEO in Your State? Stephen Brashear / Getty Images Howard Schultz: Starbucks He didnt found Starbucks, but Howard Schultz is credited with turning the company into the worlds largest coffee business as of 2015. Schultz acquired Starbucks in 1987, and now the coffee chain has over 30,000 stores worldwide. In 2000, Schultz stepped down as CEO, but he returned to the position in 2008. During the year leading up to his comeback, Starbucks stock had lost half its value, which forced Schultz to close underperforming stores and cut a thousand jobs to get the company back on track. His strategy worked. The coffee giant earned $22.4 billion in net revenues in 2017, and its market cap has grown to approximately $148 billion as of July 2021. Schultz stepped down as CEO in April 2017 and vacated his executive chairman role in June 2018. See: The Most Outrageous CEO Salaries and Perks Monica Schipper / Getty Images John Stumpf: Wells Fargo In October 2016, John Stumpf resigned from Wells Fargo after 34 years of service. Having held the CEO position since June 2007, Stumpf turned in his resignation after his poor handling of a scandal regarding more than 2 million customer accounts that were opened by Wells Fargo employees without telling the customers. During two congressional hearings, Stumpf blamed low-level employees instead of holding himself and other top executives accountable, according to USA Today. Tim Sloan -- the company's president and COO at the time -- took over, but 1.4 million more fake accounts from the Stumpf era were publicly revealed in August 2017. Wells Fargo initially pledged to pay $6.1 million to refund customers for unauthorized bank and credit card accounts, $910,000 for illicit online bill pay enrollments and $142 million for fraudulent accounts opened since 2002, according to CNN. However, the company ultimately reached a $3 billion settlement on its criminal charges and civil actions, The New York Times reported in February. Explore: How Many Minutes Does It Take a CEO to Earn Your Annual Salary? Neilson Barnard / Getty Images Hubert Joly: Best Buy Hubert Joly was named Best Buy's CEO in August 2012. He ran the company until June 2019, when Corie Barry took over as part of a "planned leadership transition," according to a statement on the BestBuy corporate website. Critics initially deemed Joly unqualified for the job and predicted the retailer would follow in the footsteps of its failed competitors like Circuit City, but they were very wrong. Jolys Renew Blue program helped Best Buy reverse declining sales, improve customer satisfaction and increase profitability by growing online sales and cutting costs. In the second quarter of 2018, Best Buy reported results that exceeded expectations -- diluted earnings per share increased by 28% from a year ago. Best Buy has also moved into dealmaking in technology by acquiring health-services platform GreatCall and senior remote monitoring company Critical Signal Technologies. In its announcement that Joly would become executive chairman, a role he still holds, BestBuy credited him with having "led the company through a successful turnaround over the past seven years." Check Out: 4 CEOS at Remote Companies on the Challenges of Never Going Back to an Office Bob Levey / Getty Images Carly Fiorina: Hewlett-Packard Before leading an unsuccessful campaign for the 2016 Republican presidential bid, Carly Fiorina was the CEO of Hewlett-Packard. She took the companys top spot in 1999 and remained in place for six years until the board removed her in 2005. The first woman to lead a Fortune 100 company, Fiorina spearheaded HPs largely unpopular merger with Compaq, which ultimately culminated in sizable layoffs and a steep plunge in the company's stock price, according to CBS News. Fiorina was so unpopular as HP's leader that when news of her departure broke, company stock prices immediately soared nearly 11%, closing the day up almost 7%. Read: CEO Pay Surged as Revenue Plummeted in 2020 Amidst Pandemic Dave Kotinsky / Getty Images Meg Whitman: eBay One of the top CEOs of all time, Meg Whitman joined eBay as president and CEO in March 1998. At the time, the online marketplace had 30 employees, 500,000 registered users and $4.7 million in revenue. Before stepping down in January 2008, Whitman turned eBay into a global powerhouse. At the time of her departure, the company had more than 15,000 employees, hundreds of millions of registered users worldwide and almost $7.7 billion in revenue. Learn: 10 CEOs Best Money Advice CTSI at UCSF / Flickr.com Jonathan Schwartz: Sun Microsystems Jonathan Schwartzs tenure as CEO of Sun Microsystems from 2006 to 2010 ended with the companys acquisition. After Sun Microsystems lost $2.2 billion in its last year of fiscal independence, Oracle announced plans to buy the tech company for $7.4 billion -- or $5.6 billion after its cash and debt -- in 2009. Oracles then-CEO, Larry Ellison, blamed the companys downfall on Schwartz, accusing him of ignoring problems as they escalated, making poor strategic decisions and spending too much time on his blog, according to Reuters. Schwartz shared news of his departure in an unconventional manner -- he tweeted a haiku to announce his resignation. See: The Most Outrageous CEO Salaries and Perks Drew Angerer / Getty Images Jeff Bezos: Amazon In 1994, Jeff Bezos founded the online bookstore Amazon. Expecting to fail, he gave himself a 30% chance of success, according to the Los Angeles Times. Fast forward to present day and -- as of July 20210 -- the company has a market cap over $1.83 billion. As an online marketplace that sells everything from shoes to dog food, Amazon had its first $100 billion quarter in Q4 2020 driven by holiday shopping bolstered by the pandemic. Now the richest person on earth, Bezos isn't afraid to take risks or go through changes. From launching Amazon Original television series to buying Whole Foods and founding Blue Origin, the aerospace company that recently made Bezos the second CEO in history to fly in space, hes focused on innovation. Explore: How Many Minutes Does It Take a CEO To Earn Your Annual Salary? Dave Einsel / Getty Images Kenneth Lay: Enron Kenneth Lay became CEO of natural gas provider Enron in 1986 as it was formed in a merger between Houston Natural Gas and InterNorth Inc. At its peak, he had grown the company into an energy giant valued at roughly $68 billion. Top executive Jeffrey Skilling briefly became CEO in 2001 but resigned a few months later. In December, Enron filed the then-largest corporate bankruptcy in U.S. history. The Securities and Exchange Commission charged Lay with fraud and insider trading in July 2004. Among other allegations, he was accused of garnering illegal proceeds totaling more than $90 million in 2001. One of the most legendary failed CEOs of all time, Lay was convicted on six counts of fraud and conspiracy in May 2006 but died in July 2006. Check Out: 4 CEOS at Remote Companies on the Challenges of Never Going Back to an Office Paul Hawthorne / Getty Images Lee Iacocca: Chrysler When Lee Iacocca joined Chrysler Corp. in 1978, the company was failing. After one year on the job, as CEO, he convinced the government to bail the automaker out by supplying $1.5 billion in federally backed loans. After securing the necessary capital, he resuscitated the company by launching a series of groundbreaking automobiles, including the mid-sized K-car line and the first minivans. The success of the vehicles -- paired with cost-saving measures -- enabled Chrysler to pay back those loans seven years early and save 600,000 jobs, according to The Washington Post. Iacocca stepped down from Chrysler in 1992. Discover: Who Is the Highest Paid CEO in Your State? Richard Drew/AP/REX/Shutterstock Eckhard Pfeiffer: Compaq On the surface, Eckhard Pfeiffer was a success as CEO of the computer company Compaq. When he took the reins in 1991, the company had $3.3 billion in annual revenues -- a figure that rose to $14.8 billion by 1996. Despite his gains, the companys board wasnt pleased with his performance, so Pfeiffer agreed to resign in 1999. Accused of focusing on growing the company instead of catering to its target market, he received approximately $6 million in severance pay and roughly $70 million worth of stock options. Compaq never recovered. In 2002, Hewlett-Packard acquired the company in a stock swap valued at roughly $25 billion. Find Out: Where These 51 CEOs Went to College SABINA LOUISE PIERCE/AP/REX/Shutterstock Doug Conant: Campbells Soup When Douglas Conant become CEO of Campbells Soup in 2001, the companys stock prices were quickly tumbling. Realizing the company had a toxic culture, he made it his mission to improve employee engagement. Wearing a pedometer, Conant pledged to walk 10,000 steps per day at work and interact with as many employees as possible. He also wrote up to 20 notes per day to staffers, honoring their successes and thanking them for their contributions. By 2009, the company had organically boosted its sales and earnings enough to outperform both the S&P Food Group and the S&P 500. Conant stepped down in July 2011. See: The Most Outrageous CEO Salaries and Perks Joe Raedle / Getty Images Stan ONeal: Merrill Lynch The CEO of Merrill Lynch from 2002 to 2007, Stan ONeal is considered by many as one of the players responsible for the 2008 financial crisis. Known for his confident, ruthless management style, he turned healthy profits for the firm from 2003 to 2007. In a 2010 interview with Fortune, ONeal claimed he didnt understand the magnitude of the firms $45 million collateralized debt obligations that were buried in its books. In August 2007, he began exploring the issue and realized the firm was in big trouble. ONeal stepped down in October 2007. Merrill Lynch lost around $8 billion in 2007 on mortgage foreclosures and delinquencies. In September 2008, Bank of America announced plans to purchase the firm for $50 billion. Explore: How Many Minutes Does It Take a CEO to Earn Your Annual Salary? Bryan Bedder / Getty Images Anne Mulcahy: Xerox Considered an unlikely choice for CEO at the time, Anne Mulcahy ran Xerox from August 2001 to June 2009. Praised for her focus on innovation, she quickly boosted company profits. In 2000, Xerox lost $273 million. When Mulcahy took over in 2001, the company had more than $17 billion in debt and was nearing Chapter 11 bankruptcy. She immediately employed cost-cutting measures but remained focused on research and development. Under Mulcahys watch, the company generated $91 million in net income by 2003, which rose to $859 million by the next year. Check Out: 4 CEOS at Remote Companies on the Challenges of Never Going Back to an Office Spencer Platt / Getty Images Bernard Ebbers: WorldCom Bernard Ebbers was the CEO of WorldCom Inc. from 1985 to 2002. In March 2004, he was charged with conspiracy and securities fraud for his participation in a scandal to falsely inflate WorldCom common stock prices. The scheme totaled $11 billion in fraud and Ebbers was found guilty on nine counts of accounting fraud. He began serving a 25-year prison sentence in September 2006. WorldCom filed for bankruptcy in 2002 due to the scandal. The company changed its name to MCI in 2004 and Verizon bought it for $6.7 billion in 2006. Read: CEO Pay Surged as Revenue Plummeted in 2020 Amidst Pandemic James Nielsen / Getty Images Gordon Bethune: Continental Airlines United Airlines purchased Continental Airlines for $3.2 billion in 2010, but the end of the companys era had nothing to do with Gordon Bethune. Serving as the CEO from 1994 to 2004, he revived the failing carrier. In a 2015 interview with Free Enterprise, Bethune cited poor management as the reason for the airlines consistently low customer satisfaction ratings when he took the helm. He said he turned the airline into the highest-rated among passengers by making it a better place to work. Continental lost roughly $600 million in 1994 but earned $225 million in 1995, according to Bethune. He credited the shift to a focus on employee satisfaction initiatives, including treating staffers right, getting to know them and earning their trust. Discover: Who Is the Highest Paid CEO in Your State? Jonathan Fickies / Getty Images Robert Nardelli: Home Depot Robert Nardelli had a good first five years as Home Depot's CEO. When he joined the company in 2000, annual sales were $46 billion, and they rose to $81.5 billion in 2005. The housing slowdown in 2006 stalled sales, and the retailers stock price tumbled to just more than $40 per share -- around the same place it was at when he started. Investors began to get frustrated with Nardellis $200 million pay package and felt it wasnt aligned with his performance. Nardelli was willing to give up his guaranteed $3 million bonus but refused to take a pay cut. Wall Street cheered his January 2007 departure because analysts believed investors were not confident in his leadership abilities. The companys sales reached $132.1 billion in 2020, which indicates Nardelli is long-forgotten. Learn: 10 CEOs Best Money Advice Pool / Getty Images Marvin Ellison: J.C. Penney When stepping into the role of J.C. Penney CEO in August 2015, Marvin Ellison worked hard to revive the struggling retailer. In 2016, the company had a positive net income for the first time since 2010, generating $514 million more in total earnings than in 2015. In an effort to boost sales, Ellison reinvested in J.C. Penney's hair salons. He also invested more in affordable brands and aimed to bring back some of the old department store charm that could bring customers back. However, Ellison left the company in 2018 after it took a turn downward with a $69 million loss in the first quarter of 2018. And it's still struggling. A court approved the sale of J.C. Penney in November 2020. The move pulled the company out of bankruptcy, but analysts say the odds are still stacked against its survival. See: The Most Outrageous CEO Salaries and Perks Francois Durand / Getty Images Steve Ballmer: Microsoft When Bill Gates stepped down as Microsoft CEO to focus on philanthropy in 2000, Steve Ballmer assumed the role. In September 2000, the tech company was valued at $642 billion, but by the time he left in February 2014, it was worth only approximately $315 billion. A lack of innovation and slew of flopped initiatives -- including the Windows phone, Bing and Microsoft Surface devices -- made it impossible for the company to keep up with competitors like Apple and Google. The Ballmer effect doesnt appear to have left a permanent mark on Microsoft. Under the direction of current CEO Satya Nadella, its market capitalization sits at a staggering $2.18 trillion as of July 2021. Explore: How Many Minutes Does It Take a CEO to Earn Your Annual Salary? Sean Gallup / Getty Images Alan Mulally: Ford Credited as the man who saved Ford, Alan Mulally took control of the company in 2006. That year alone, the troubled automaker lost $12.7 billion, according to The New York Times. Mulally worked hard to make change happen, shifting the cutthroat company culture to one based on collaboration and efficiency. He also mortgaged $23.5 billion in company assets to create a cash infusion to revive Fords vehicle roster. When Mulally retired from Ford in 2014, it had a net income of nearly $3.2 billion. More From GOBankingRates What Money Topics Do You Want Covered: Ask the Financially Savvy Female 5 Things Most Americans Dont Know About Social Security 20 Home Renovations That Will Hurt Your Homes Value What Income Level Is Considered Middle Class in Your State? Daria Uhlig contributed to the reporting for this article. This article originally appeared on GOBankingRates.com : Elon Musk, Marissa Mayer and 25 More CEOs That Have Saved or Sunk Major Corporations || Best Penny Stocks to Buy Now? 3 to Watch In Early August: 3 Penny Stocks For Your Early August Watchlist With a new month here, the time to find the best penny stocks to buy is now. But, it’s not as easy as making a watchlist and hoping for profits. Rather, investors need to understand where the stock market is headed, and which penny stocks may benefit. In 2021, it’s all about considering how short-term trends may result in heightened popularity or volume with certain penny stocks. And because there are so many events going on simultaneously, it can be a lot to keep track of. However, by paying attention to the news and understanding wholly how it could affect different industries or companies in specific, investors can work to stay one step ahead of the game. The best trader will always be the one with the most information on hand. And in 2021, information is more accessible than ever. [Read More] This Biotech Stock was Once a Penny Stock but is Now Making Big Moves on the Nasdaq! With the Robinhood IPO occurring only a few days ago, we see that trading is open to all. Because the stock market is so democratized right now, billions in capital have flooded in over a short time frame. So, recognize that volatility is high, but the chance of turning a profit can be equally high if you know how to trade penny stocks . With all of this in mind, let’s take a look at three to watch in early August. 3 Hot Penny Stocks to Watch Right Now New Oriental Education & Technology Group Inc. ( NYSE: EDU ) Ebang International Holdings Inc. ( NASDAQ: EBON ) Globalstar Inc. ( NYSE: GSAT ) New Oriental Education & Technology Group Inc. (NYSE: EDU) In the past few months, the trend of education penny stocks has increased greatly. And one of the more interesting companies in this field right now is New Oriental Education & Technology Group Inc. This company offers K-12 private educational test preparation services. As of May 31st, 2020 the company’s services and programs were offered in 104 schools, 1,361 learning centers, and 12 bookstores. This is a substantial reach for the company and one that could prove to be beneficial to it in the long run. Story continues Read More Biotech Penny Stocks To Watch On Robinhood IPO Day 3 Tech Penny Stocks To Watch Right Now Only recently, the Chinese government placed a ban on for-profit tutoring. While this expectedly resulted in a price drop for EDU stock, shares did make a small comeback shortly after. Over the past year, EDU stock has lost over 85% of its value. However, in the past few days, shares have climbed by over 15%. In addition, the company’s volume during that time has also increased substantially. Needless to say, the situation in China may still have more questions than answers so a more speculative sentiment has materialized in the market. Based on this information, it’s up to you to decide if EDU stock is worth watching or not. Penny_Stocks_to_Watch_New_Oriental_Education_&_Technology_Group Ebang International Holdings Inc. (NASDAQ: EBON) Ebang International Holdings Inc. is a blockchain penny stock that we’ve been covering for quite some time. The company creates a large range of blockchain-related products. And for that reason, its share price is usually highly correlated with that of certain cryptocurrencies. In specific, Ebang manufactures Bitcoin mining machines for sale in the U.S., China, and Hong Kong. The company provides mining machine hosting services for remote usage as well. This has become a popular trend among Bitcoin miners, as remote hosting is much more efficient than running in-person operations. With cryptocurrencies like Bitcoin and DogeCoin exploding in value at certain points in 2021, the company has experienced a lot of positive momentum as well. 2021 has been a landmark year for crypto because of its large growth in popularity and massive attention in the news. And as stated before, it’s important to stay up to date with the price of crypto as EBON stock often moves with the crypto industry as a whole. In addition, the large microprocessor shortage witnessed over the past few months has been a major benefit to EBON. As a provider of Bitcoin mining machines, Ebang has seen the demand for its products rise substantially during that time. In the past five days, shares of EBON have risen by over 3.5%. While this may not seem like a major gain, it is substantial considering EBON’s trajectory throughout the last six months or so. With this information in mind, is EBON a contender for your penny stock watchlist ? Penny_Stocks_to_Watch_Ebang_International_Holdings_Inc_EBON_Stock Globalstar Inc. (NYSE: GSAT) Globalstar Inc. is a communications penny stock that has continued to make moves in the market over the last year or so. YTD, shares of GSAT stock are up by a staggering 305% or so. And while prices are down in the last month, we can look at the future prospects that Globalstar has to see where it could be headed. For some context, Globalstar is a company that provides mobile satellite services such as GPS tracking for emergency locations, anti-theft, asset tracking, and more. In addition to this, it offers IoT tracking devices for cargo, container, and rail cars. With the increasing globalization of the world, devices like these are important to keep the transport industry running. And, it also works as a complement to Globalstar’s other assets. [Read More] Best Multibagger Penny Stocks to Buy? 3 For Your Watchlist On July 1st, Globalstar announced its partnership with FocusPoint International Inc. FocusPoint will provide crisis assistance services under the Global Overwatch & Rescue Plan to Globalstar customers. “We are so pleased to extend this valuable service to Globalstar customers. Many of our users partake in extreme sports and engage in higher than average travel frequency making this offering a service that can help further improve our customers’ peace of mind. FocusPoint provides a comprehensive risk consulting service that is a great compliment to the connectivity we provide our customers.” The CEO of Globalstar, David Kagan The safety market is one that is both large and growing. With the pandemic coming back for a fourth wave, many are forgoing vacations to large population areas, and instead choosing to stay outdoors. This means that there could be heightened demand for GSATs products if all goes according to plan. Keeping this recent announcement in mind, will GSAT stock be on your watchlist? Penny_Stocks_to_Watch_Globalstar_Inc._(GSAT_Stock_Chart) Which Penny Stocks Are You Investing In? Finding the best penny stocks in 2021 can be challenging. But, by learning how to trade penny stocks, investors can stay ahead and feel confident in their strategies moving forward. With all of this in mind, which penny stocks are you investing in right now? || Best Penny Stocks to Buy Now? 3 to Watch In Early August: With a new month here, the time to find the best penny stocks to buy is now. But, it’s not as easy as making a watchlist and hoping for profits. Rather, investors need to understand where the stock market is headed, and whichpenny stocksmay benefit. In 2021, it’s all about considering how short-term trends may result in heightened popularity or volume with certain penny stocks.
And because there are so many events going on simultaneously, it can be a lot to keep track of. However, by paying attention to the news and understanding wholly how it could affect different industries or companies in specific, investors can work to stay one step ahead of the game. The best trader will always be the one with the most information on hand. And in 2021, information is more accessible than ever.
[Read More]This Biotech Stock was Once a Penny Stock but is Now Making Big Moves on the Nasdaq!
With the Robinhood IPO occurring only a few days ago, we see that trading is open to all. Because the stock market is so democratized right now, billions in capital have flooded in over a short time frame. So, recognize that volatility is high, but the chance of turning a profit can be equally high if you knowhow to trade penny stocks. With all of this in mind, let’s take a look at three to watch in early August.
1. New Oriental Education & Technology Group Inc. (NYSE: EDU)
2. Ebang International Holdings Inc. (NASDAQ: EBON)
3. Globalstar Inc. (NYSE: GSAT)
In the past few months, the trend ofeducation penny stockshas increased greatly. And one of the more interesting companies in this field right now is New Oriental Education & Technology Group Inc. This company offers K-12 private educational test preparation services. As of May 31st, 2020 the company’s services and programs were offered in 104 schools, 1,361 learning centers, and 12 bookstores. This is a substantial reach for the company and one that could prove to be beneficial to it in the long run.
Read More
• Biotech Penny Stocks To Watch On Robinhood IPO Day
• 3 Tech Penny Stocks To Watch Right Now
Only recently, the Chinese government placed a ban on for-profit tutoring. While this expectedly resulted in a price drop for EDU stock, shares did make a small comeback shortly after. Over the past year, EDU stock has lost over 85% of its value.
However, in the past few days, shares have climbed by over 15%. In addition, the company’s volume during that time has also increased substantially. Needless to say, the situation in China may still have more questions than answers so a more speculative sentiment has materialized in the market. Based on this information, it’s up to you to decide if EDU stock is worth watching or not.
Ebang International Holdings Inc. is ablockchain penny stockthat we’ve been covering for quite some time. The company creates a large range of blockchain-related products. And for that reason, its share price is usually highly correlated with that of certain cryptocurrencies.
In specific, Ebang manufactures Bitcoin mining machines for sale in the U.S., China, and Hong Kong. The company provides mining machine hosting services for remote usage as well. This has become a popular trend among Bitcoin miners, as remote hosting is much more efficient than running in-person operations.
With cryptocurrencies like Bitcoin and DogeCoin exploding in value at certain points in 2021, the company has experienced a lot of positive momentum as well. 2021 has been a landmark year for crypto because of its large growth in popularity and massive attention in the news. And as stated before, it’s important to stay up to date with the price of crypto as EBON stock often moves with the crypto industry as a whole. In addition, the large microprocessor shortage witnessed over the past few months has been a major benefit to EBON.
As a provider of Bitcoin mining machines, Ebang has seen the demand for its products rise substantially during that time. In the past five days, shares of EBON have risen by over 3.5%. While this may not seem like a major gain, it is substantial considering EBON’s trajectory throughout the last six months or so. With this information in mind, is EBON a contender for yourpenny stock watchlist?
Globalstar Inc. is a communications penny stock that has continued to make moves in the market over the last year or so. YTD, shares of GSAT stock are up by a staggering 305% or so. And while prices are down in the last month, we can look at the future prospects that Globalstar has to see where it could be headed.
For some context, Globalstar is a company that provides mobile satellite services such as GPS tracking for emergency locations, anti-theft, asset tracking, and more. In addition to this, it offers IoT tracking devices for cargo, container, and rail cars. With the increasing globalization of the world, devices like these are important to keep the transport industry running. And, it also works as a complement to Globalstar’s other assets.
[Read More]Best Multibagger Penny Stocks to Buy? 3 For Your Watchlist
On July 1st, Globalstar announced its partnership with FocusPoint International Inc. FocusPoint will provide crisis assistance services under the Global Overwatch & Rescue Plan to Globalstar customers.
“We are so pleased to extend this valuable service to Globalstar customers. Many of our users partake in extreme sports and engage in higher than average travel frequency making this offering a service that can help further improve our customers’ peace of mind. FocusPoint provides a comprehensive risk consulting service that is a great compliment to the connectivity we provide our customers.”
The safety market is one that is both large and growing. With the pandemic coming back for a fourth wave, many are forgoing vacations to large population areas, and instead choosing to stay outdoors. This means that there could be heightened demand for GSATs products if all goes according to plan. Keeping this recent announcement in mind, will GSAT stock be on your watchlist?
Finding thebest penny stocks in 2021can be challenging. But, by learning how to trade penny stocks, investors can stay ahead and feel confident in their strategies moving forward. With all of this in mind, which penny stocks are you investing in right now? || China Securities Watchdog Seeks Communication With U.S. On IPOs: The China Securities Regulatory Commission (CSRC) has said that it will initiate talks with its U.S. counterpart and support overseas listings after the U.S. Securities and Exchange Commission halted the initial public offerings of Chinese companies, Reuters reports. The CSRC is looking forward to increasing its communication with the U.S. Securities and Exchange Commission (SEC) to find a suitable resolution regarding Chinese companies' listings. On Friday, the SEC said that it would suspend any Chinese IPOs until companies improved their risk disclosures. According to SEC, Chinese issuers must disclose if they were denied permission from Chinese authorities to list on U.S. exchanges and the risks of such an approval being denied or rescinded. The Chinese watchdog has called for mutual respect and collaboration on the issue. "China's basic national policy of advancing reform and opening-up is unswerving, and the financial opening to the outside world will continue," CSRC said in a statement. CSRC also said that it sees the prospects for Chinese capital markets as predictable, sustainable, and healthy. On July 6, China's cabinet said that it would strengthen supervision of all Chinese firms listed offshore. The central bank of China has said that non-bank payment firms must report plans for overseas listings. See more from Benzinga Click here for options trades from Benzinga FTX/MLB Announces 0K Bitcoin Prize Money For Predicting Longest 2nd-Half HR Disney Makes Vaccination Mandatory For Salaried, Non-Union Hourly Workers In U.S. © 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || China Securities Watchdog Seeks Communication With U.S. On IPOs: The China Securities Regulatory Commission(CSRC) has said that it will initiate talks with its U.S. counterpart and support overseas listings after the U.S. Securities and Exchange Commission halted the initial public offerings of Chinese companies,Reutersreports.
• The CSRC is looking forward to increasing its communication with theU.S. Securities and Exchange Commission(SEC) to find a suitable resolution regarding Chinese companies' listings.
• On Friday, the SEC said that it would suspend any Chinese IPOs until companies improved their risk disclosures.
• According to SEC, Chinese issuers must disclose if they were denied permission from Chinese authorities to list on U.S. exchanges and the risks of such an approval being denied or rescinded.
• The Chinese watchdog has called for mutual respect and collaboration on the issue.
• "China's basic national policy of advancing reform and opening-up is unswerving, and the financial opening to the outside world will continue," CSRC said in a statement.
• CSRC also said that it sees the prospects for Chinese capital markets as predictable, sustainable, and healthy.
• On July 6, China's cabinet said that it would strengthen supervision of all Chinese firms listed offshore.
• The central bank of China has said that non-bank payment firms must report plans for overseas listings.
See more from Benzinga
• Click here for options trades from Benzinga
• FTX/MLB Announces 0K Bitcoin Prize Money For Predicting Longest 2nd-Half HR
• Disney Makes Vaccination Mandatory For Salaried, Non-Union Hourly Workers In U.S.
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Shareholder Alert: Kessler Topaz Meltzer & Check, LLP Reminds Shareholders of Coinbase Global Inc. of Securities Class Action Lawsuit: RADNOR, PA / ACCESSWIRE / August 1, 2021 / The law firm of Kessler Topaz Meltzer & Check, LLP announces that a securities fraud class action lawsuit has been filed against Coinbase Global Inc. (NASDAQ:COIN) ("Coinbase") on behalf of those who purchased or acquired Coinbase Class A common stock pursuant and/or traceable to the registration statement and prospectus (collectively, the "Offering Materials") for the resale of up to 114,850,769 shares of its Class A common stock, whereby Coinbase began trading as a public company on or around April 14, 2021 (the "Offering") . Deadline Reminder: Investors who purchased or acquired Coinbase Class A common stock pursuant and/or traceable to the Offering may, no later than September 20, 2021 , seek to be appointed as a lead plaintiff representative of the class. For additional information or to learn how to participate in this litigation please contact Kessler Topaz Meltzer & Check, LLP: James Maro, Esq. (484) 270-1453; toll free at (844) 887-9500; via e-mail at info@ktmc.com ; or click https://www.ktmc.com/coinbase-global-class-action-lawsuit?utm_source=PR&utm_medium=Link&utm_campaign=coinbase According to the complaint, Coinbase "powers the cryptoeconomy," offering a "trusted platform" for sending and receiving Bitcoin and other digital assets built using blockchain technology to approximately 43 million retail users, 7,000 institutions, and 115,000 ecosystem partners in over 100 countries. On April 14, 2021, Coinbase filed its prospectus on a Form 424B4, which forms part of the registration statement. Coinbase registered for the resale of up to 114,850,769 shares of its Class A common stock by registered shareholders. According to the registration statement, the resale of Coinbase's stock was not underwritten by any investment bank and the registered stockholders would purportedly elect whether or not to sell their shares. Such sales, if any, would be brokerage transactions on the NASDAQ, and Coinbase would purportedly not receive any proceeds from the sale of shares of Class A common stock by the registered stockholders. Thus, Coinbase's operations would continue to be financed with cash flow from operating activities and net proceeds from the sale of convertible preferred stock. As of December 31, 2020, Coinbase had cash and cash equivalents of $1.1 billion, exclusive of restricted cash and customer custodial funds. Story continues The complaint alleges that one month later, the high-flying promise of Coinbase came to a screaming halt, as Coinbase conceded the need to raise capital and revealed performance issues that prevented users' ability to trade cryptocurrencies. On May 17, 2021, Coinbase announced its plans to raise about $1.25 billion via a convertible bond sale. Then, on May 19, 2021, Coinbase revealed technical problems, including "delays . . . due to network congestion" affecting those who want to get their money out. Following this news, Coinbase's share price fell $23.44 per share, nearly 10%, over two consecutive trading sessions, to close at $224.80 per share on May 19, 2021. By the time the complaint was filed, Coinbase stock traded as low as $208.00 per share, a decline from its April 14, 2021 opening price of $381.00 per share. The complaint alleges that the Offering Materials were false and misleading and omitted to state that, at the time of the Offering: (1) Coinbase required a sizeable cash injection; (2) Coinbase's platform was susceptible to service-level disruptions, which were increasingly likely to occur as Coinbase scaled its services to a larger user base; and (3) as a result of the foregoing, the defendants' positive statements about Coinbase's business, operations, and prospects, were materially misleading and/or lacked a reasonable basis. Coinbase investors may, no later than September 20, 2021 , seek to be appointed as a lead plaintiff representative of the class through Kessler Topaz Meltzer & Check, LLP or other counsel, or may choose to do nothing and remain an absent class member. A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. In order to be appointed as a lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff. Kessler Topaz Meltzer & Check, LLP prosecutes class actions in state and federal courts throughout the country involving securities fraud, breaches of fiduciary duties and other violations of state and federal law. Kessler Topaz Meltzer & Check, LLP is a driving force behind corporate governance reform, and has recovered billions of dollars on behalf of institutional and individual investors from the United States and around the world. The firm represents investors, consumers and whistleblowers (private citizens who report fraudulent practices against the government and share in the recovery of government dollars). The complaint in this action was not filed by Kessler Topaz Meltzer & Check, LLP. For more information about Kessler Topaz Meltzer & Check, LLP please visit www.ktmc.com . CONTACT: Kessler Topaz Meltzer & Check, LLP James Maro, Jr., Esq. 280 King of Prussia Road Radnor, PA 19087 (844) 887-9500 (toll free) info@ktmc.com SOURCE: Kessler Topaz Meltzer & Check, LLP View source version on accesswire.com: https://www.accesswire.com/657651/Shareholder-Alert-Kessler-Topaz-Meltzer-Check-LLP-Reminds-Shareholders-of-Coinbase-Global-Inc-of-Securities-Class-Action-Lawsuit || Shareholder Alert: Kessler Topaz Meltzer & Check, LLP Reminds Shareholders of Coinbase Global Inc. of Securities Class Action Lawsuit: RADNOR, PA / ACCESSWIRE / August 1, 2021 /The law firm of Kessler Topaz Meltzer & Check, LLP announces that a securities fraud class action lawsuit has been filed against Coinbase Global Inc. (NASDAQ:COIN) ("Coinbase") on behalf of those who purchased or acquired CoinbaseClass A common stock pursuant and/or traceable to the registration statement and prospectus (collectively, the "Offering Materials") for the resale of up to 114,850,769 shares of its Class A common stock, whereby Coinbase began trading as a public company on or around April 14, 2021 (the "Offering").
Deadline Reminder: Investors who purchased or acquired Coinbase Class A common stockpursuant and/or traceable to the Offering may,no later than September 20, 2021, seek to be appointed as a lead plaintiff representative of the class. For additional information or to learn how to participate in this litigation please contact Kessler Topaz Meltzer & Check, LLP: James Maro, Esq. (484) 270-1453; toll free at (844) 887-9500; via e-mail atinfo@ktmc.com;orclickhttps://www.ktmc.com/coinbase-global-class-action-lawsuit?utm_source=PR&utm_medium=Link&utm_campaign=coinbase
According to the complaint, Coinbase "powers the cryptoeconomy," offering a "trusted platform" for sending and receiving Bitcoin and other digital assets built using blockchain technology to approximately 43 million retail users, 7,000 institutions, and 115,000 ecosystem partners in over 100 countries.
On April 14, 2021, Coinbase filed its prospectus on a Form 424B4, which forms part of the registration statement. Coinbase registered for the resale of up to 114,850,769 shares of its Class A common stock by registered shareholders. According to the registration statement, the resale of Coinbase's stock was not underwritten by any investment bank and the registered stockholders would purportedly elect whether or not to sell their shares. Such sales, if any, would be brokerage transactions on the NASDAQ, and Coinbase would purportedly not receive any proceeds from the sale of shares of Class A common stock by the registered stockholders. Thus, Coinbase's operations would continue to be financed with cash flow from operating activities and net proceeds from the sale of convertible preferred stock. As of December 31, 2020, Coinbase had cash and cash equivalents of $1.1 billion, exclusive of restricted cash and customer custodial funds.
The complaint alleges that one month later, the high-flying promise of Coinbase came to a screaming halt, as Coinbase conceded the need to raise capital and revealed performance issues that prevented users' ability to trade cryptocurrencies. On May 17, 2021, Coinbase announced its plans to raise about $1.25 billion via a convertible bond sale. Then, on May 19, 2021, Coinbase revealed technical problems, including "delays . . . due to network congestion" affecting those who want to get their money out.
Following this news, Coinbase's share price fell $23.44 per share, nearly 10%, over two consecutive trading sessions, to close at $224.80 per share on May 19, 2021. By the time the complaint was filed, Coinbase stock traded as low as $208.00 per share, a decline from its April 14, 2021 opening price of $381.00 per share.
The complaint alleges that the Offering Materials were false and misleading and omitted to state that, at the time of the Offering: (1) Coinbase required a sizeable cash injection; (2) Coinbase's platform was susceptible to service-level disruptions, which were increasingly likely to occur as Coinbase scaled its services to a larger user base; and (3) as a result of the foregoing, the defendants' positive statements about Coinbase's business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.
Coinbase investors may,no later than September 20, 2021, seek to be appointed as a lead plaintiff representative of the class through Kessler Topaz Meltzer & Check, LLP or other counsel, or may choose to do nothing and remain an absent class member. A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. In order to be appointed as a lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff.
Kessler Topaz Meltzer & Check, LLP prosecutes class actions in state and federal courts throughout the country involving securities fraud, breaches of fiduciary duties and other violations of state and federal law. Kessler Topaz Meltzer & Check, LLP is a driving force behind corporate governance reform, and has recovered billions of dollars on behalf of institutional and individual investors from the United States and around the world. The firm represents investors, consumers and whistleblowers (private citizens who report fraudulent practices against the government and share in the recovery of government dollars). The complaint in this action was not filed by Kessler Topaz Meltzer & Check, LLP. For more information about Kessler Topaz Meltzer & Check, LLP please visitwww.ktmc.com.
CONTACT:Kessler Topaz Meltzer & Check, LLPJames Maro, Jr., Esq.280 King of Prussia RoadRadnor, PA 19087(844) 887-9500 (toll free)info@ktmc.com
SOURCE:Kessler Topaz Meltzer & Check, LLP
View source version on accesswire.com:https://www.accesswire.com/657651/Shareholder-Alert-Kessler-Topaz-Meltzer-Check-LLP-Reminds-Shareholders-of-Coinbase-Global-Inc-of-Securities-Class-Action-Lawsuit || Back from Space and Wanting More: Bezos’ Blue Origin Offers to ‘Bridge’ $2 Billion for NASA’s Lunar Contract: Tony Gutierrez / AP Jeff Bezos, freshly back from space , offered to cover $2 billion in fees for NASA’s Human Landing System (HLS) program in an open letter to the agency’s administrator Bill Nelson. See: What Jeff Bezos Will Be Doing After Amazon and More Side Projects of Billionaires Learn: Bitcoin Prices Surge Thanks to Amazon Rumors “Blue Origin will bridge the HLS budgetary funding shortfall by waiving all payments in the current and next two government fiscal years up to $2B to get the program back on track right now,” Bezos said in the letter. Last April, NASA awarded SpaceX the $2.89 billion contract to continue development of the first commercial human lander that “will safely carry the next two American astronauts to the lunar surface,” the agency said at the time. The choice was disputed by Bezos, who reiterated his position in the letter, saying that “instead of investing in two competing lunar landers as originally intended, the Agency chose to confer a multi-year, multi-billion-dollar head start to SpaceX. That decision broke the mold of NASA’s successful commercial space programs by putting an end to meaningful competition for years to come.” More: Just How Rich Are Jeff Bezos, Donald Trump and These Other Big Names? “Instead of this single source approach, NASA should embrace its original strategy of competition. Competition will prevent any single source from having insurmountable leverage over NASA. Without competition, a short time into the contract, NASA will find itself with limited options as it attempts to negotiate missed deadlines, design changes, and cost overruns. Without competition, NASA’s short-term and long-term lunar ambitions will be delayed, will ultimately cost more, and won’t serve the national interest,” he added in the letter. Bezos added in the letter that in April, only one HLS bidder — SpaceX — was offered the opportunity to revise their price and funding profile, leading to their selection. “Blue Origin was not offered the same opportunity. That was a mistake, it was unusual, and it was a missed opportunity.” In addition to bridging “the HLS budgetary funding shortfall,” Bezos says that Blue Origin will, at its own cost, contribute the development and launch of a pathfinder mission to low-Earth orbit of the lunar descent element to further retire development and schedule risks . In addition, he suggests that Blue Origin accepts a firm, fixed-priced contract for this work, cover any system development cost overruns and shield NASA from partner cost escalation concerns. Discover: Virgin Galactic’s Launch to the Edge of Space Could Make Commercial Space Tourism a Reality Find: Amazon and 17 Other Companies That Raised Their Minimum Wage to $15 (or More) Story continues “I believe this mission is important. I am honored to offer these contributions and am grateful to be in a financial position to be able to do so. NASA veered from its original dual-source acquisition strategy due to perceived near-term budgetary issues, and this offer removes that obstacle,” Bezos added. More From GOBankingRates: What Money Topics Do You Want Covered: Ask the Financially Savvy Female 5 Things Most Americans Don’t Know About Social Security 20 Home Renovations That Will Hurt Your Home’s Value What Income Level Is Considered Middle Class in Your State? Last updated: July 27, 2021 This article originally appeared on GOBankingRates.com : Back from Space and Wanting More: Bezos’ Blue Origin Offers to ‘Bridge’ $2 Billion for NASA’s Lunar Contract View comments || Back from Space and Wanting More: Bezos’ Blue Origin Offers to ‘Bridge’ $2 Billion for NASA’s Lunar Contract: Tony Gutierrez / AP Jeff Bezos, freshly back from space , offered to cover $2 billion in fees for NASA’s Human Landing System (HLS) program in an open letter to the agency’s administrator Bill Nelson. See: What Jeff Bezos Will Be Doing After Amazon and More Side Projects of Billionaires Learn: Bitcoin Prices Surge Thanks to Amazon Rumors “Blue Origin will bridge the HLS budgetary funding shortfall by waiving all payments in the current and next two government fiscal years up to $2B to get the program back on track right now,” Bezos said in the letter. Last April, NASA awarded SpaceX the $2.89 billion contract to continue development of the first commercial human lander that “will safely carry the next two American astronauts to the lunar surface,” the agency said at the time. The choice was disputed by Bezos, who reiterated his position in the letter, saying that “instead of investing in two competing lunar landers as originally intended, the Agency chose to confer a multi-year, multi-billion-dollar head start to SpaceX. That decision broke the mold of NASA’s successful commercial space programs by putting an end to meaningful competition for years to come.” More: Just How Rich Are Jeff Bezos, Donald Trump and These Other Big Names? “Instead of this single source approach, NASA should embrace its original strategy of competition. Competition will prevent any single source from having insurmountable leverage over NASA. Without competition, a short time into the contract, NASA will find itself with limited options as it attempts to negotiate missed deadlines, design changes, and cost overruns. Without competition, NASA’s short-term and long-term lunar ambitions will be delayed, will ultimately cost more, and won’t serve the national interest,” he added in the letter. Bezos added in the letter that in April, only one HLS bidder — SpaceX — was offered the opportunity to revise their price and funding profile, leading to their selection. “Blue Origin was not offered the same opportunity. That was a mistake, it was unusual, and it was a missed opportunity.” In addition to bridging “the HLS budgetary funding shortfall,” Bezos says that Blue Origin will, at its own cost, contribute the development and launch of a pathfinder mission to low-Earth orbit of the lunar descent element to further retire development and schedule risks . In addition, he suggests that Blue Origin accepts a firm, fixed-priced contract for this work, cover any system development cost overruns and shield NASA from partner cost escalation concerns. Discover: Virgin Galactic’s Launch to the Edge of Space Could Make Commercial Space Tourism a Reality Find: Amazon and 17 Other Companies That Raised Their Minimum Wage to $15 (or More) Story continues “I believe this mission is important. I am honored to offer these contributions and am grateful to be in a financial position to be able to do so. NASA veered from its original dual-source acquisition strategy due to perceived near-term budgetary issues, and this offer removes that obstacle,” Bezos added. More From GOBankingRates: What Money Topics Do You Want Covered: Ask the Financially Savvy Female 5 Things Most Americans Don’t Know About Social Security 20 Home Renovations That Will Hurt Your Home’s Value What Income Level Is Considered Middle Class in Your State? Last updated: July 27, 2021 This article originally appeared on GOBankingRates.com : Back from Space and Wanting More: Bezos’ Blue Origin Offers to ‘Bridge’ $2 Billion for NASA’s Lunar Contract View comments || HOKK Finance - Latest Developments, Partnership, Audit and Listing Updates: GEORGETOWN, CAYMAN ISLANDS / ACCESSWIRE / August 1, 2021 / HOKK Finance will be showcased at the Hackathon: Decentralized Finance event and billed as a meme utility token generating automated returns. HOKK Finance is the rebirth of HOKK, and has also been listed on Coinsbit . HOKK Finance has created an affordable and internationally accessible payment system based on an inclusive financial system powered by the blockchain. HOKK Finance has also been audited and on-boarded as of 7/17/2021 by CERTIK Audit Community-Centric Defi Project Following a fair contract launch, HOKK Finance has become a deflationary token by default as its whale holders have burned $1 million worth of HOKK tokens. As a result, the users on the platform will receive automated returns via a 2% redistribution fee in the form of Automated Rewards Farming (ARF). The platform is devoted towards the community and wants to bring the benefits of crypto, meme, and open market to everyone. Joining the bandwagon of running meme-oriented platforms, HOKK Finance is innovating in the meme coin space, focusing on inclusivity. Prima facie, the platform is built for enhancing utility and enhancing the adoption of the crypto space for different purposes. One example of the enhanced utility is the principle of utility that is meant to create equal opportunities for every user engaging with the platform. HOKK Finance has also partnered with Shopping.io . Here, the users can buy products from Amazon and eBay with more than 100 cryptocurrencies. So, with such initiatives, HOKK Finance is integrating the real-world financial needs with the crypto space. Three-Tier HOKK Ecosystem The users will interact with three unique forms of HOKK. The $HOKK is meant to become the Bitcoin of Defi and will work as a decentralized token that is free from manipulation. It will also become the primary transactional currency and act as a store of value for the HOKK financial system. The $HOKKFI Utility Token is included in the future roadmap of the platform and will power HOKK Wallet, HOKK Pay, and HOKK Remit. HOKK Pay and Remit will help to operationalize the decentralized and global crypto payment systems. Story continues The HOKK Wallet will be integrated with the ARF rewards, this will increase the wallet balance progressively, as the number of transactions increases on the platform. The $HOKKFI Staking will begin after it goes live, and the users can then stake $HOKK to earn more tokens. Down the line, this three-tier ecosystem will be governed by the DAO, which will shift the power to the community. About HOKK Finance HOKK Finance is updated with a new version of HOKK. The new platform is considered as a rebirth of its predecessor and has brought in new community-centric aspects.The decentralized project is creating an ecosystem of meme utility added with an inclusive financial system. Considered as the next chapter in HOKK, HOKK Finance is providing access to a decentralized payments and remittance system enabling quick and secure international payments. Media Contact Prex Hokk Email - robin@hokk.finance PR - Cryptoshib.com Email - info@cryptoshib.com SOURCE: The HOKK Foundation View source version on accesswire.com: https://www.accesswire.com/657920/HOKK-Finance--Latest-Developments-Partnership-Audit-and-Listing-Updates
[Social Media Buzz]
None available.
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38152.98, 39747.50, 40869.55, 42816.50, 44555.80, 43798.12, 46365.40, 45585.03, 45593.64, 44428.29
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Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 23869.83, 23477.29, 22803.08, 23783.03, 23241.35, 23735.95, 24664.79, 26437.04, 26272.29, 27084.81, 27362.44, 28840.95, 29001.72, 29374.15, 32127.27, 32782.02, 31971.91, 33992.43, 36824.36, 39371.04, 40797.61, 40254.55, 38356.44, 35566.66, 33922.96, 37316.36, 39187.33, 36825.37, 36178.14, 35791.28, 36630.07, 36069.80, 35547.75, 30825.70, 33005.76, 32067.64, 32289.38, 32366.39, 32569.85, 30432.55, 33466.10, 34316.39, 34269.52, 33114.36, 33537.18, 35510.29, 37472.09, 36926.07, 38144.31, 39266.01, 38903.44, 46196.46, 46481.11, 44918.18, 47909.33, 47504.85, 47105.52, 48717.29, 47945.06, 49199.87, 52149.01, 51679.80, 55888.13, 56099.52, 57539.95, 54207.32, 48824.43, 49705.33, 47093.85, 46339.76, 46188.45, 45137.77, 49631.24, 48378.99, 50538.24, 48561.17, 48927.30, 48912.38, 51206.69, 52246.52, 54824.12, 56008.55, 57805.12, 57332.09, 61243.09, 59302.32, 55907.20, 56804.90, 58870.89, 57858.92.
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[Bitcoin Technical Analysis for 2021-03-18]
Volume: 55746041000, RSI (14-day): 60.45, 50-day EMA: 48606.65, 200-day EMA: 31154.20
[Wider Market Context]
Gold Price: 1732.20, Gold RSI: 43.37
Oil Price: 60.00, Oil RSI: 44.44
[Recent News (last 7 days)]
REGI INVESTOR NOTICE: ROSEN, LEADING INVESTOR COUNSEL, Encourages Renewable Energy Group, Inc. Investors to Secure Counsel Before Important Deadline – REGI: NEW YORK, March 17, 2021 (GLOBE NEWSWIRE) --WHY:Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Renewable Energy Group, Inc. (NASDAQ: REGI) between May 3, 2018 and February 25, 2021, inclusive (the “Class Period”), of the importantMay 3, 2021 lead plaintiff deadline.
SO WHAT:If you purchased Renewable Energy Group securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.
WHAT TO DO NEXT:To join the Renewable Energy Group class action, go tohttp://www.rosenlegal.com/cases-register-2048.htmlor call Phillip Kim, Esq. toll-free at 866-767-3653 or emailpkim@rosenlegal.comorcases@rosenlegal.comfor information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Courtno later than May 3, 2021. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.
WHY ROSEN LAW:We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience or resources. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020 founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.
DETAILS OF THE CASE:According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) due to failures in the diesel additive system, petroleum diesel was not periodically added to certain loads by the Company and was instead added by the Company’s customers; (2) as a result, Renewable Energy Group was not the proper claimant for certain biodiesel tax credit (BTC) payments on biodiesel it sold between January 1, 2017 and September 30, 2020; (3) a result, Renewable Energy Group’s revenue and net income were overstated for certain periods; (4) there was a material weakness in the Company’s internal control over financial reporting related to the purchase and use of the petroleum diesel gallons when blending with biodiesel; and (5) that, as a result of the foregoing, defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.
To join the Renewable Energy Group class action, go tohttp://www.rosenlegal.com/cases-register-2048.htmlor call Phillip Kim, Esq. toll-free at 866-767-3653 or emailpkim@rosenlegal.comorcases@rosenlegal.comfor information on the class action.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
Follow us for updates on LinkedIn:https://www.linkedin.com/company/the-rosen-law-firm, on Twitter:https://twitter.com/rosen_firmor on Facebook:https://www.facebook.com/rosenlawfirm/.
Attorney Advertising. Prior results do not guarantee a similar outcome.
-------------------------------
Contact Information:
Laurence Rosen, Esq.Phillip Kim, Esq.The Rosen Law Firm, P.A.275 Madison Avenue, 40th FloorNew York, NY 10016Tel: (212) 686-1060Toll Free: (866) 767-3653Fax: (212) 202-3827lrosen@rosenlegal.compkim@rosenlegal.comcases@rosenlegal.comwww.rosenlegal.com || How Chinas Digital Yuan Could Go Global: China aims to be a global blockchain superpower, and its national digital currency is part of that plan. But if China really wants to achieve its global ambitions it will need help from other countries. To that end, China has been quietly testing pilot digital currency trading platforms in different nations as well as setting up a legal framework for CBDCs with global financial regulators. You have central bank digital currencies (CBDC) developed on various platforms such as enterprise blockchain Corda or Hyperledger, and the digital yuan is technically not even on a blockchain, Michael Sung, co-director of the Fintech Research Center at Fudan University, said. That is a very balkanized ecosystem. Related: Can a Bitcoin Mining Business Reduce Your Taxes? For the digital yuan to achieve global adoption, China would thus need to work with trading partners or regional financial hubs to have a platform where the digital yuan is technically, legally and financially interoperable with other countries digital currencies. One such platform is Inthanon-LionRock (Note), which is a central bank digital currency project for cross-border payments initiated by the Hong Kong Monetary Authority (HKMA) and the Bank of Thailand (BOT). Eight Thai banks and two Hong Kong banks, including HSBC, participated in the Note project and tested the feasibility of digital currency-based transactions between Thailand and Hong Kong, according to its white paper. According to a Feb. 23 statement by HKMA, the digital currency arm of Peoples Bank of China and the Central Bank of the United Arab Emirates (UAE) have joined the second phase of this project and it has been renamed as the Multiple Central Bank Digital Currency (m-CBDC) Bridge. Related: Nexo: $100K BTC Is Inevitable but Won't Be a Smooth Ride The project aims to help central banks with cross-border fund transfers, international trade settlement and capital market transactions. The idea is to alleviate regulatory, cost and inefficiency pain points in cross-border fund transfers, the statement said. Story continues The Note project is very emblematic of Chinas approach to internationalize the digital yuan, Tavni Ratna, CEO and founder of blockchain and digital currency think tank Policy 4.0, said. China might want to negotiate with one central bank at a time and come up with a mechanism for everything ranging from a legal framework to exchange rate between the two currencies. The wholesale shift Two elements have set the project apart from other digital yuan projects in China so far. While such projects are usually only between two countries through a bilateral collaboration, the Bridge appears to have a third country the UAE involved in the CBDC trading platform, Ratna said. The other element is the project is wholesale-oriented, which is a shift from Chinas focus on retail use cases . The project will continue to explore other potential business cases such as cross-border funds transfers between institutions such as companies, banks rather than individual users, according to the white paper. In October 2020, the Hong Kong Treasury Secretary Christopher Hui also said the city is interested in these transactions. The project will act as a cross-border corridor network for big financial institutions. It would entice more central banks to join the network by offering a more competitive foreign exchange rate than the open market, where each country has to buy other local currencies from intermediaries at a premium. It would also allow countries to borrow more other currencies in the short term to increase their liquidity to settle transactions in real time. Read More: Geopolitics at Stake in US Response to Chinas Digital Yuan: Report Indonesia and China also signed a memorandum of understanding to promote local currencies in the two countries in September 2020. The partnership would allow the direct exchange rate quotations and interbank trading between the Chinese yuan and the Indonesian rupiah.This process, which could enable real-time transactions and avoid using the U.S. dollar as a reserve currency to settle and clear transactions, is crucial for a CBDC-trading platform to work. As of January, China is Indonesias biggest trade partner and an important source of investment. The largest economy in Southeast Asia, like many other major countries in the region, has seen a fast growing deficit to China in recent years. The hub Some countries might be reluctant to trade central bank digital currencies on a platform designed by China due to privacy concerns, said Paul Triolo, head of the geo-technology practice at risk consultancy Eurasia Group. To that end, Chinas central bank could also join an inclusive digital currency platform, where it can trade the digital yuan with other digital currencies freely. As the largest offshore center for RMB deposits, Singapores blockchain project Ubin would be one possibility. The Monetary Authority of Singapore (MAS) has worked with JPMorgan and state-backed conglomerate Tamasek to use CBDCs and other digital currencies, including the tokenized dollar JPM coin, on the Ubin platform. Founded in 2016 by MAS, ConsenSys and JPMorgans Quorum, which was acquired by ConsenSys in August 2020, the Ubin project aims to settle inter-bank transactions, cross-border remittances and tokenized securities through distributed ledger technology. In contrast to a platform that is controlled by China, a more neutral and inclusive platform by MAS could be more acceptable for many other countries. The Ubin project envisions having a common messaging platform to coordinate different settlement systems and establishing a common messaging standard to ease communications between the systems, according to the report, which cites the Society for Worldwide Interbank Financial Telecommunication (SWIFT) as an example for such coordination. Read More: Beijing, Shanghai to Join Wider Testing of Digital Yuan in 2021 In June 2020, Ravi Menon, the managing director of MAS, said Singapore welcomes collaboration with Chinas central bank on digital currency in a speech about financial cooperation between Singapore and Shanghai. With Temasek and JPMorgan in the project, the whole point was this financial hub pushing for more efficient and less-costly cross-border settlements, Sung said. While Hong Kong is obviously the place for China to start internationalizing the digital rmb, Singapore is a nice cross-border settlement point. Team player The world has shown wariness of overly ambitious digital currencies. Given the political pressure on the Facebook-led diem (formerly libra) project, Beijing might have a hard time positioning Chinas digital yuan as the national digital currency to dominate the global financial system, Triolo said. Perhaps learning from this, China has tried to be more proactive and collaborative in setting an international legal framework for CBDCs. Chinese President Xi Jinping said the country should proactively participate in creating the international regulatory framework on digital currency and digital tax, according to an Oct. 31 essay he published in Chinese state media. HKMA also emphasized the m-CBDC project has been supported by the Bank for International Settlements Innovation Hub Centre in Hong Kong. PBOC subsidiaries, including its digital currency unit, have set up the second joint venture with SWIFT in Beijing in February but the new groups mission remains unclear. Chinas motivations for internationalizing the digital yuan rang from curbing Chinese fintech giants, weakening SWIFT to countering the U.S. dollar dominance over the global financial system, Ratna said. But one thing is for sure, China does not want to antagonize anyone along the way, she said. Related Stories How Chinas Digital Yuan Could Go Global How Chinas Digital Yuan Could Go Global || REGI INVESTOR NOTICE: ROSEN, LEADING INVESTOR COUNSEL, Encourages Renewable Energy Group, Inc. Investors to Secure Counsel Before Important Deadline – REGI: NEW YORK, March 17, 2021 (GLOBE NEWSWIRE) -- WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Renewable Energy Group, Inc. (NASDAQ: REGI) between May 3, 2018 and February 25, 2021, inclusive (the “Class Period”), of the important May 3, 2021 lead plaintiff deadline . SO WHAT: If you purchased Renewable Energy Group securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. WHAT TO DO NEXT: To join the Renewable Energy Group class action, go to http://www.rosenlegal.com/cases-register-2048.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than May 3, 2021 . A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience or resources. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020 founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers. Story continues DETAILS OF THE CASE: According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) due to failures in the diesel additive system, petroleum diesel was not periodically added to certain loads by the Company and was instead added by the Company’s customers; (2) as a result, Renewable Energy Group was not the proper claimant for certain biodiesel tax credit (BTC) payments on biodiesel it sold between January 1, 2017 and September 30, 2020; (3) a result, Renewable Energy Group’s revenue and net income were overstated for certain periods; (4) there was a material weakness in the Company’s internal control over financial reporting related to the purchase and use of the petroleum diesel gallons when blending with biodiesel; and (5) that, as a result of the foregoing, defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages. To join the Renewable Energy Group class action, go to http://www.rosenlegal.com/cases-register-2048.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff. Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm , on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/ . Attorney Advertising. Prior results do not guarantee a similar outcome. ------------------------------- Contact Information: Laurence Rosen, Esq. Phillip Kim, Esq. The Rosen Law Firm, P.A. 275 Madison Avenue, 40th Floor New York, NY 10016 Tel: (212) 686-1060 Toll Free: (866) 767-3653 Fax: (212) 202-3827 lrosen@rosenlegal.com pkim@rosenlegal.com cases@rosenlegal.com www.rosenlegal.com || How China’s Digital Yuan Could Go Global: China aims to be a global blockchain superpower, and its national digital currency is part of that plan. But if China really wants to achieve its global ambitions it will need help from other countries.
To that end, China has been quietly testing pilot digital currency trading platforms in different nations as well as setting up a legal framework for CBDCs with global financial regulators.
“You have central bank digital currencies (CBDC) developed on various platforms such as enterprise blockchain Corda or Hyperledger, and the digital yuan is technically not even on a blockchain,” Michael Sung, co-director of the Fintech Research Center at Fudan University, said. “That is a very balkanized ecosystem.”
Related:Can a Bitcoin Mining Business Reduce Your Taxes?
For the digital yuan to achieve global adoption, China would thus need to work with trading partners or regional financial hubs to have a platform where the digital yuan is technically, legally and financially interoperable with other countries’ digital currencies.
One such platform isInthanon-LionRock(Note), which is a central bank digital currency project for cross-border payments initiated by the Hong Kong Monetary Authority (HKMA) and the Bank of Thailand (BOT).
Eight Thai banks and two Hong Kong banks, including HSBC, participated in the Note project and tested the feasibility of digital currency-based transactions between Thailand and Hong Kong, according to its white paper.
According to a Feb. 23statementby HKMA, the digital currency arm of People’s Bank of China and the Central Bank of the United Arab Emirates (UAE) have joined the second phase of this project and it has been renamed as the Multiple Central Bank Digital Currency (m-CBDC) Bridge.
Related:Nexo: $100K BTC Is Inevitable but Won't Be a Smooth Ride
The project aims to help central banks with cross-border fund transfers, international trade settlement and capital market transactions. The idea is to alleviate regulatory, cost and inefficiency pain points in cross-border fund transfers, the statement said.
“The Note project is very emblematic of China’s approach to internationalize the digital yuan,” Tavni Ratna, CEO and founder of blockchain and digital currency think tank Policy 4.0, said. “China might want to negotiate with one central bank at a time and come up with a mechanism for everything ranging from a legal framework to exchange rate between the two currencies.”
Two elements have set the project apart from other digital yuan projects in China so far. While such projects are usually only between two countries through a bilateral collaboration, the Bridge appears to have a third country – the UAE – involved in the CBDC trading platform, Ratna said.
The other element is the project is wholesale-oriented, which is a shift from China’s focus onretail use cases. The project will continue to explore other potential business cases such as cross-border funds transfers between institutions such as companies, banks rather than individual users, according to the white paper. In October 2020, the Hong Kong Treasury Secretary Christopher Hui also said the city isinterestedin these transactions.
The project will act as a cross-border corridor network for big financial institutions. It would entice more central banks to join the network by offering a more competitive foreign exchange rate than the open market, where each country has to buy other local currencies from intermediaries at a premium. It would also allow countries to borrow more other currencies in the short term to increase their liquidity to settle transactions in real time.
Read More:Geopolitics at Stake in US Response to China’s Digital Yuan: Report
Indonesia and China also signed amemorandum of understandingto promote local currencies in the two countries in September 2020. The partnership would allow the direct exchange rate quotations and interbank trading between the Chinese yuan and the Indonesian rupiah.This process, which could enable real-time transactions and avoid using the U.S. dollar as a reserve currency to settle and clear transactions, is crucial for a CBDC-trading platform to work.
As of January, China is Indonesia’sbiggest trade partnerand an important source of investment. The largest economy in Southeast Asia, like many other major countries in the region, has seen a fast growing deficit to China in recent years.
Some countries might be reluctant to trade central bank digital currencies on a platform designed by China due to privacy concerns, said Paul Triolo, head of the geo-technology practice at risk consultancy Eurasia Group.
To that end, China’s central bank could also join an inclusive digital currency platform, where it can trade the digital yuan with other digital currencies freely. As the largest offshore center for RMB deposits, Singapore’s blockchain projectUbinwould be one possibility.
The Monetary Authority of Singapore (MAS) has worked with JPMorgan and state-backed conglomerate Tamasek to use CBDCs and other digital currencies, including the tokenized dollar JPM coin, on the Ubin platform. Founded in 2016 by MAS, ConsenSys and JPMorgan’s Quorum, which was acquired by ConsenSys in August 2020, the Ubin project aims to settle inter-bank transactions, cross-border remittances and tokenized securities through distributed ledger technology.
In contrast to a platform that is controlled by China, a more neutral and inclusive platform by MAS could be more acceptable for many other countries.
The Ubin project envisions having a common messaging platform to coordinate different settlement systems and establishing a common messaging standard to ease communications between the systems, according to the report, which cites the Society for Worldwide Interbank Financial Telecommunication (SWIFT) as an example for such coordination.
Read More:Beijing, Shanghai to Join Wider Testing of Digital Yuan in 2021
In June 2020, Ravi Menon, the managing director of MAS, said Singaporewelcomescollaboration with China’s central bank on digital currency in a speech about financial cooperation between Singapore and Shanghai.
“With Temasek and JPMorgan in the project, the whole point was this financial hub pushing for more efficient and less-costly cross-border settlements,” Sung said. “While Hong Kong is obviously the place for China to start internationalizing the digital rmb, Singapore is a nice cross-border settlement point.”
The world has shown wariness of overly ambitious digital currencies. Given the political pressure on the Facebook-led diem (formerly libra) project, Beijing might have a hard time positioning China’s digital yuan as the national digital currency to dominate the global financial system, Triolo said.
Perhaps learning from this, China has tried to be more proactive and collaborative in setting an international legal framework for CBDCs. Chinese President Xi Jinping said the country should proactivelyparticipatein creating the international regulatory framework on digital currency and digital tax, according to an Oct. 31 essay he published in Chinese state media.
HKMA also emphasized the m-CBDC project has been supported by the Bank for International Settlements Innovation Hub Centre in Hong Kong. PBOC subsidiaries, including its digital currency unit, haveset upthe second joint venture with SWIFT in Beijing in February but the new group’s mission remains unclear.
China’s motivations for internationalizing the digital yuan rang fromcurbingChinese fintech giants, weakening SWIFT tocounteringthe U.S. dollar dominance over the global financial system, Ratna said.
“But one thing is for sure, China does not want to antagonize anyone along the way,” she said.
• How China’s Digital Yuan Could Go Global
• How China’s Digital Yuan Could Go Global || Sex consent app sparks backlash: NSW Police Commissioner Mick Fuller - Lisa Maree Williams /Getty Images AsiaPac Royal Mail adds barcodes to stamps for the first time Uber facing up to $350m in new costs for UK drivers' pensions and holiday pay Apple cuts off iPhone camera supplier accused of Uighur violations Robin Pagnamenta: £1bn plan to decarbonise heavy industry misses the vital point Sign up here for our daily technology newsletter A police commissioner in Australia has sparked an outpouring of criticism, after suggesting an app to record sexual consent could be used as a solution for rising reports of sexual assault. Mick Fuller, police commissioner for New South Wales, shared the idea after figures showed sexual assault reports last year had risen 10pc in Sydney's home state. “Just as we’ve had to check-in at the coffee shop to keep people safe, is there a way consent can be confirmed or documented?” he wrote in an opinion piece. Later, he said to reporters; "I am just suggesting: is it part of the solution? Maybe it's not, but if we don't do something then more and more women are going to come forward seeking justice for sexual violence." Women's groups widely lambasted the idea, saying it missed the point that sexual consent could be withdrawn even after sex had started and that the app would be vulnerable to manipulation if women could be forced to click consent. Annabelle Daniel, head of the charity Women's Community Shelters, said: "I'm mystified by the ongoing belief that technology must be a good solution in situations where we are dealing with power, nuance and complex human behaviour". 06:04 PM That's it from us Check in tomorrow for more tech news! 05:32 PM Most Spotify artists make very little The vast majority of artists on Spotify are making less than $1,000 (£717) a year from the streaming service, despite it paying out billions in royalties last year, James Titcomb writes. The Swedish company, the world’s biggest music streaming service, yesterday released its most detailed figures on its payments to the industry in response to growing scrutiny of the amounts artists are earning from streaming. Story continues Its total payments, which include those to rights holders such as record labels as well as artists, rose to $5bn last year, up from $3.3bn in 2017. However, around a third of this went to the biggest 500 artists, according to an analysis from industry research firm Music Ally. While Spotify has been widely credited with reviving music industry revenues after years of piracy-induced declines, artists have continued to say they make tiny amounts from the service, pointing to the fractions of a cent made for each stream. 05:30 PM Tim Cook 'can't wait' for return to the office Tim Cook, Apple's chief executive, said that he is very excited about returning to the office. "My gut says that, for us, it's still very important to physically be in touch with one another because collaboration isn't always a planned activity," he told People magazine . "Innovation isn't always a planned activity...It's bumping into each other over the course of the day and advancing an idea that you just had. And you really need to be together to do that." The iPhone makers are considering a hybrid working situation, where workers could return for some but not all days of the week. "We have realised and learned that there are some things that are perfectly great to do virtually across Zoom or WebEx, whatever, or FaceTime, whatever you might have. So I think it'll be, I'll call it a hybrid environment [for] a little bit." 04:31 PM Emotional AI in cars could spot sleepy drivers Cars may be a prime application for emotion-detecting artificial intelligence (AI), Dr Rana el Kaliouby, Affectiva coounder and chief science officer said today during a SXSW talk. Dr el Kaliouby said her company is working on several ways to bring emotional AI into our everyday lives, including advertising, virtual health appointments and remote teaching. But one area they are investing in is the ability to monitor drivers behind the wheel and detect "four stages of drowsiness" so the car can alert them before it is too late. Distractions, like texting or intense emotion, could also be measured, she said. The system works by analysing all the different expressions human faces make and grouping them into certain categories, which are spotted through a live stream on a dashboard. 03:56 PM Apple set to roll out new iPads as soon as April Apple is set to unveil a refresh of its iPad line-up after sales of the tablet computer soared through the pandemic. The Cupertino-based company is expected to unveil the new devices as early as April, according to a report from Bloomberg, citing sources familiar with the upgrades. Its iPad Pro line is expected to be beefed up with better processors and cameras but will stick with familiar design and sizes. The top-of-the-line iPads will be fitted with an M1 chip, that would place them on par with the MacBook Air, MacBook Pro, and Mac mini. Apple is also believed to be exploring the introduction of a mini-LED screen on the new iPads. iPad sales swelled to $8.4bn in the last three months of last year, making the most-successful period for the table since 2014. Apple is expected to launch a batch of new iPads - Shutterstock 03:20 PM YouTube rolls out TikTok competitor Shorts Alphabet-owned YouTube has begun rolling out a beta version of a short-form video streaming service called "Shorts" as it bids to compete with the Chinese social media sensation TikTok. The service was first unveiled in September but will begin its trial in the US from today. The tech giant first tested it in India and found the number of Indian channels using the service had tripled since December. YouTubers will be able to use a host of creation tools to make videos and will also be able to use audio from videos that are already on the site. The company also plans to offer a large library of songs to creators too. 02:41 PM Facebook's mind-reading wristband lets you control gadgets from a distance The social media giant wants to build an all-encompassing augmented reality (AR) system controlled via tiny gestures. My colleague Laurence Dodds reports: Facebook has unveiled an intention-reading wristband that allows users to control their lights, boil kettles and manipulate virtual objects from a distance with tiny movements of their fingers. In a video demonstration on Tuesday, the social media giant laid out its plan to replace the computer mouse with wrist-mounted sensors that intercept the commands sent by users' brains to their hands. Read the full story here . A still from Facebook's haptic bow and arrow video - Facebook 02:07 PM Tesla buyers omitted from updated EV scheme Tesla buyers in the UK are facing higher bills as a result of an amendment to the Government’s electric vehicle grant. The plug-in car grant was originally worth £3,000 and could be applied to vehicles worth up to £50,000. That has since been changed with the grant now worth £2,500 and the value of the car limited to £35,000. As a result of the change Tesla’s Model 3 will now longer qualify for aid. The standard range Tesla starts at just over £40,000 - placing it beyond the updated scheme. In outlining its reasoning behind the change, the Government said that the number of battery-powered cars available for less than £35,000 have soared over the past two years by 50pc. Mike Hawes, the CEO of SIMI, said: “This sends the wrong message to the consumer, especially private customers, and to an industry challenged to meet the government’s ambition to be a world leader in the transition to zero emission mobility.” The Model 3 will be too expensive for the updated grant scheme - Reuters 01:28 PM The crypto hunters searching for billions in lost Bitcoin The cryptocurrency's volatile price has made it a risky investment, but it can also be a target for hackers and thieves. As my colleague James Titcomb reports: It was late in the working day when Joss Eynon logged into the Bitcoin wallet on his laptop for the first time in three years. In the last few weeks, the price of the virtual currency had skyrocketed. Eynon, a property developer, figured the roughly £5,000 he had invested in 2017 was now worth a lot more. He was right. His wallet showed that the 1.8 Bitcoin he had from a few years ago was now worth more £60,000. Eynon closed his laptop and decided he would figure out what to do with the money in the next week, perhaps putting some in his pension. Later that night, when he checked again on his phone, it had vanished. Somehow, the cryptocurrency had been anonymously sent to another wallet. Read the full story here . 12:45 PM Uber offers back-dated holiday pay to 100,000 drivers in gig-economy shake-up Uber drivers of the App Drivers & Couriers Union celebrate as they listen to the court decision on a tablet computer outside the Supreme Court in London in February - Frank Augstein /AP Uber emailed over 100,000 current and former drivers on Thursday morning, making them aware they are now eligible for holiday pay back-dated to 2012. The new policy was created in response to a landmark decision by the Supreme Court in February which ruled that two former drivers for the app were entitled to worker benefits. Analysts expected the ruling to spark a tidal wave of claims against the taxi app. In an effort to draw a line under the issue, Uber announced this week it would reclassify its 70,000 UK drivers as workers who were entitled to the minimum wage, holiday pay and pensions. As part of those measures, past and present drivers will be able to apply for back-dated holiday pay in the form of cash settlements amounting to 12pc of their earnings, according to Uber. Drivers are being encouraged to apply directly through the company instead of using No Win No Fee claims lawyers. For drivers who joined Uber after summer 2016, they will be compensated for 12pc of the time they spent carrying out trips on the app. However the Supreme Court ruling means those who joined before summer 2016, could receive significantly more. Due to a now discontinued app feature which penalised them for turning down trips, drivers may be able to argue they were technically working for the entire time they were logged on. The company will also compensate drivers if records show their earnings from the app fell below the national living wage. This is calculated against the time they spent carrying out trips, not the time they spent logged in. The UK is Uber's biggest European market and it is also the first country in the world where the company will implement this new type of gig-economy business model. A report by Morgan Stanley described the policy change as a headwind that would cost between £180m and £250m over the next financial year, equal to around 8-10pc of UK bookings. Uber is expecting to absorb the costs of the new policy through growth, with the company anticipating a post-pandemic surge in demand. 12:36 PM Top Australian police officer sparks storm with suggestion of sexual consent app One of Australia's top police officers has faced a barrage of criticism on Thursday for his suggestions that an app could be used to record sexual consent. In response to figures showing sexual assault reports last year had risen 10pc in Sydney's home state, New South Wales, the regional police commissioner Mick Fuller said an app that could digitally document agreements to proceed with sex could be "part of the solution". “Just as we’ve had to check-in at the coffee shop to keep people safe, is there a way consent can be confirmed or documented?” he wrote in an opinion piece. "I am just suggesting: is it part of the solution? Maybe it's not, but if we don't do something then more and more women are going to come forward seeking justice for sexual violence," he later told reporters. An app to confirm sexual consent? It’s good @nswpolice is acknowledging the need for affirmative consent, but this isn’t a safe way forward. The abuser can simply coerce the victim to use the app. 1/2) https://t.co/0dBTx06kLH — Hayley Foster (@HayleyFoster_) March 17, 2021 The suggestion sparked backlash from women's groups and on Thursday morning, the hashtag #rapeapp was trending in Australia. Hayley Foster, the chief executive at Women's Safety NSW, suggested women could just be coerced into giving consent on the app. Annabelle Daniel, head of the charity Women's Community Shelters, said: "I'm mystified by the ongoing belief that technology must be a good solution in situations where we are dealing with power, nuance and complex human behaviour". Fuller admitted it might be "the worst idea I have all year". But he suggested Covid contact tracing apps had demonstrated the important of solutions offered by technology. "If someone told me two years ago that we would have to sign in our phones every time we sat down at a restaurant, I would've laughed at them," he said. No, an app for recording sexual consent is NOT a good idea. It ‘proves’ nothing, because consent can be withdrawn at any time If anyone comes at you with a sex consent app, RUN A MILE and don’t look back. They’re looking for deniability, *not* your safety, comfort or pleasure. — Miss IG Geek (she/her) 🏳️🌈 (@MissIG_Geek) March 18, 2021 11:03 AM Google expected to invest over $7 billion in US offices and data centres this year Google has announced plans to invest more than $7bn (£5bn) in offices and data centres across the US this year, while also creating 10,000 full-time US-based jobs. The announcement arrives amid deep uncertainty about whether remote work is here to stay. While other tech giants have signalled remote work will play a more significant role in their workforce , Google CEO Sundar Pichai said on Thursday: "Coming together in person to collaborate and build community is core to Google's culture and it will be an important part of our future. So we will continue to make significant investments in our offices around the country, as well as our home state of California where we will be investing over $1bn this year." The tech giant also plans to invest in data centre expansions in Nebraska, South Carolina, Virginia, Nevada and Texas. 10:51 AM Wearables start-up raises funds for headphones that are also earrings A start up is developing a range of earrings that also function as headphones, using a technology called "directional sound". Munich-based Nova is raising funds on Kickstarter to find backers to support its "audio earrings", which embed headphones and microphones into real pearls. By Thursday, the last day of the crowdfunding campaign, the company had more than doubled its original £30,000 target. Because the "audio earrings" have small batteries, the company says they are not designed for listening to very loud music. Instead, the earrings are meant to enable users to listen to music at radio-volume, talk on the phone or communicate with their phone's digital assistant. The directional sound technology means sound travels straight from the earlobe to the ear canal. That means even though the headphone sits in the same position as an earring, the company says no sound leaks into surrounding area. 10:24 AM BT boost as Ofcom rules out price caps Trainee engineers from BT Openreach practice at a training facility in West Hanningfield in south Essex - Chris Ratcliffe /Bloomberg News Ofcom is attempting to ramp up the country's broadband upgrade by allowing BT to charge higher prices for full-fibre connectivity for the next decade, reports my colleague Ben Woods . The communications regulator has told broadband builders that wholesale prices on full fibre will not be capped until 2031 at the earliest, handing the industry more certainty to invest. The move is part of a plan to wean the country off the older, more unreliable copper broadband network by keeping prices on those services flat before shutting it down entirely. BT said the announcement was "broadly in line with expectations" and would allow it to earn a fair return on its £12bn investment to help carpet 85pc of the nation in gigabit speeds by 2025. The telecoms giant confirmed it would now aim to lay full fibre to 20m homes and businesses by the mid-to-late 2020s. You can read his full story here . 09:27 AM Row breaks out between Ireland and Germany about regulating big tech German officials have attacked the effectiveness of Irish regulator in charge of overseeing big tech's compliance with European privacy rules, the GDPR. Yesterday, Ulrich Kelber, Germany's chief data protection watchdog, wrote to European Parliament members criticising Ireland's "extremely slow case handling, which falls significantly behind the case handling progress of most EU and especially German supervisors". He complained Germany had "sent more than 50 complaints about WhatsApp to Irish authorities, "none of which had been closed to date." Kelber also added by the end of last year, Ireland was leading 196 cases but had concluded just four. In comparison, Germany had closed 52 out of 176 cases. The duty of regulating big tech falls to Ireland because Dublin has emerged as hub for Silicon Valley firms' European headquarters. There have long been concerns about the ability of data protection regulators - who often complain of being underfunded and short staffed - to stand up to some of the world's most valuable companies. Kelber's comments came in response to a letter from Helen Dixon, data protection officer in Dublin, defending Ireland's record to the European Parliament. Germany strikes back with a shocking inditement of Ireland's GDPR enforcer: despite being the EU's lead authority for Google, Facebook, Microsoft, Apple, etc., the Irish DPC has produced just 4 GDPR decisions (cross-border) since the GDPR, 3 years ago. https://t.co/NTUhFjea4o pic.twitter.com/ecrKC18EOS — Johnny Ryan (@johnnyryan) March 17, 2021 08:16 AM More than 200,000 join UK freelancing platform, in midst of pandemic job losses The freelance marketplace, People Per Hour, has seen almost a quarter of a million Britons join looking for work since the onset of the pandemic, as the virus pushes the UK to its highest level of unemployment for five years. The company reported more than 227,000 people had applied as freelancers in 2020, up 60pc from the previous year. A quarter of them joined due to lost employment, said People per Hour. Freelancers who sign up to the platform can bid for jobs, such as writing a blog post, designing a website or creating an illustration. People Per Hour is one of a growing number of companies catering to " crowdwork ", a type of outsourcing which functions as the online equivalent of the gig economy. People are hired on a per-task basis to do tasks which can be completed entirely on the internet. 08:00 AM Royal Mail adds barcodes to stamps for first time Royal mail stamp with barcode Royal Mail is set to trail barcodes on its stamps in an effort to modernise the service, reports my colleague Michael Cogley. However the barcodes, which will appear on second-class stamps sold to business customers, don't yet have a purpose and Royal Mail said they will be testing a variety of applications. Nick Landon, the chief commercial officer at Royal Mail, said: "By doing this, we are looking to transform the humble stamp so that we can offer our customers even more convenient, new services in the future. “Royal Mail has a long and proud history for creating innovative and intuitive postal solutions. This goes all the way back to the Penny Black which established the principle of the one-price-goes-anywhere universal service – to the recent launch of Parcel Collect – where we pick up our customers’ parcels from the doorstep.” Read the full story here . 07:33 AM Uber to offer current and former drivers cash payments in place of backdated holiday pay Ride-hailing app Uber is expected to contact both current and former drivers, offering them cash payments in place of backdated holiday pay. On Tuesday, the company said it would offer all of its 70,000 drivers in the UK, its biggest European market, benefits such as the minimum wage, holiday pay and pensions in a fundamental shake-up to the gig economy business model. However there remains some dispute over whether the minimum wage should be paid to drivers only when they are undertaking trips, or if the time they spend waiting for fares should also count. Unions have argued the latter and are threatening further court action in the near future. 07:02 AM Five stories to start your day 1) Royal Mail adds barcodes to stamps for the first time The company claims the new codes will open up the 'humble' stamp to an array of digital services 2) Uber facing up to $350m in new costs for UK drivers' pensions and holiday pay The taxi app lost a legal battle in the UK earlier this year over drivers' status 3) Skateboarding internet star Nathan Apodaca to sell viral TikTok for $500k Mr Apodoca to auction 23-second clip that put Fleetwood Mac's Dreams back in the charts 4) Apple cuts off iPhone camera supplier accused of Uighur violations Apple is known to be a major client of O-Film, which makes camera and touch module parts 5) Robin Pagnamenta: £1bn plan to decarbonise heavy industry misses the vital point The thumping 170 page blueprint to turn Britain green is well-meaning but lacks ambition || Sex consent app sparks backlash: NSW Police Commissioner Mick Fuller - Lisa Maree Williams /Getty Images AsiaPac Royal Mail adds barcodes to stamps for the first time Uber facing up to $350m in new costs for UK drivers' pensions and holiday pay Apple cuts off iPhone camera supplier accused of Uighur violations Robin Pagnamenta: £1bn plan to decarbonise heavy industry misses the vital point Sign up here for our daily technology newsletter A police commissioner in Australia has sparked an outpouring of criticism, after suggesting an app to record sexual consent could be used as a solution for rising reports of sexual assault. Mick Fuller, police commissioner for New South Wales, shared the idea after figures showed sexual assault reports last year had risen 10pc in Sydney's home state. “Just as we’ve had to check-in at the coffee shop to keep people safe, is there a way consent can be confirmed or documented?” he wrote in an opinion piece. Later, he said to reporters; "I am just suggesting: is it part of the solution? Maybe it's not, but if we don't do something then more and more women are going to come forward seeking justice for sexual violence." Women's groups widely lambasted the idea, saying it missed the point that sexual consent could be withdrawn even after sex had started and that the app would be vulnerable to manipulation if women could be forced to click consent. Annabelle Daniel, head of the charity Women's Community Shelters, said: "I'm mystified by the ongoing belief that technology must be a good solution in situations where we are dealing with power, nuance and complex human behaviour". 06:04 PM That's it from us Check in tomorrow for more tech news! 05:32 PM Most Spotify artists make very little The vast majority of artists on Spotify are making less than $1,000 (£717) a year from the streaming service, despite it paying out billions in royalties last year, James Titcomb writes. The Swedish company, the world’s biggest music streaming service, yesterday released its most detailed figures on its payments to the industry in response to growing scrutiny of the amounts artists are earning from streaming. Story continues Its total payments, which include those to rights holders such as record labels as well as artists, rose to $5bn last year, up from $3.3bn in 2017. However, around a third of this went to the biggest 500 artists, according to an analysis from industry research firm Music Ally. While Spotify has been widely credited with reviving music industry revenues after years of piracy-induced declines, artists have continued to say they make tiny amounts from the service, pointing to the fractions of a cent made for each stream. 05:30 PM Tim Cook 'can't wait' for return to the office Tim Cook, Apple's chief executive, said that he is very excited about returning to the office. "My gut says that, for us, it's still very important to physically be in touch with one another because collaboration isn't always a planned activity," he told People magazine . "Innovation isn't always a planned activity...It's bumping into each other over the course of the day and advancing an idea that you just had. And you really need to be together to do that." The iPhone makers are considering a hybrid working situation, where workers could return for some but not all days of the week. "We have realised and learned that there are some things that are perfectly great to do virtually across Zoom or WebEx, whatever, or FaceTime, whatever you might have. So I think it'll be, I'll call it a hybrid environment [for] a little bit." 04:31 PM Emotional AI in cars could spot sleepy drivers Cars may be a prime application for emotion-detecting artificial intelligence (AI), Dr Rana el Kaliouby, Affectiva coounder and chief science officer said today during a SXSW talk. Dr el Kaliouby said her company is working on several ways to bring emotional AI into our everyday lives, including advertising, virtual health appointments and remote teaching. But one area they are investing in is the ability to monitor drivers behind the wheel and detect "four stages of drowsiness" so the car can alert them before it is too late. Distractions, like texting or intense emotion, could also be measured, she said. The system works by analysing all the different expressions human faces make and grouping them into certain categories, which are spotted through a live stream on a dashboard. 03:56 PM Apple set to roll out new iPads as soon as April Apple is set to unveil a refresh of its iPad line-up after sales of the tablet computer soared through the pandemic. The Cupertino-based company is expected to unveil the new devices as early as April, according to a report from Bloomberg, citing sources familiar with the upgrades. Its iPad Pro line is expected to be beefed up with better processors and cameras but will stick with familiar design and sizes. The top-of-the-line iPads will be fitted with an M1 chip, that would place them on par with the MacBook Air, MacBook Pro, and Mac mini. Apple is also believed to be exploring the introduction of a mini-LED screen on the new iPads. iPad sales swelled to $8.4bn in the last three months of last year, making the most-successful period for the table since 2014. Apple is expected to launch a batch of new iPads - Shutterstock 03:20 PM YouTube rolls out TikTok competitor Shorts Alphabet-owned YouTube has begun rolling out a beta version of a short-form video streaming service called "Shorts" as it bids to compete with the Chinese social media sensation TikTok. The service was first unveiled in September but will begin its trial in the US from today. The tech giant first tested it in India and found the number of Indian channels using the service had tripled since December. YouTubers will be able to use a host of creation tools to make videos and will also be able to use audio from videos that are already on the site. The company also plans to offer a large library of songs to creators too. 02:41 PM Facebook's mind-reading wristband lets you control gadgets from a distance The social media giant wants to build an all-encompassing augmented reality (AR) system controlled via tiny gestures. My colleague Laurence Dodds reports: Facebook has unveiled an intention-reading wristband that allows users to control their lights, boil kettles and manipulate virtual objects from a distance with tiny movements of their fingers. In a video demonstration on Tuesday, the social media giant laid out its plan to replace the computer mouse with wrist-mounted sensors that intercept the commands sent by users' brains to their hands. Read the full story here . A still from Facebook's haptic bow and arrow video - Facebook 02:07 PM Tesla buyers omitted from updated EV scheme Tesla buyers in the UK are facing higher bills as a result of an amendment to the Government’s electric vehicle grant. The plug-in car grant was originally worth £3,000 and could be applied to vehicles worth up to £50,000. That has since been changed with the grant now worth £2,500 and the value of the car limited to £35,000. As a result of the change Tesla’s Model 3 will now longer qualify for aid. The standard range Tesla starts at just over £40,000 - placing it beyond the updated scheme. In outlining its reasoning behind the change, the Government said that the number of battery-powered cars available for less than £35,000 have soared over the past two years by 50pc. Mike Hawes, the CEO of SIMI, said: “This sends the wrong message to the consumer, especially private customers, and to an industry challenged to meet the government’s ambition to be a world leader in the transition to zero emission mobility.” The Model 3 will be too expensive for the updated grant scheme - Reuters 01:28 PM The crypto hunters searching for billions in lost Bitcoin The cryptocurrency's volatile price has made it a risky investment, but it can also be a target for hackers and thieves. As my colleague James Titcomb reports: It was late in the working day when Joss Eynon logged into the Bitcoin wallet on his laptop for the first time in three years. In the last few weeks, the price of the virtual currency had skyrocketed. Eynon, a property developer, figured the roughly £5,000 he had invested in 2017 was now worth a lot more. He was right. His wallet showed that the 1.8 Bitcoin he had from a few years ago was now worth more £60,000. Eynon closed his laptop and decided he would figure out what to do with the money in the next week, perhaps putting some in his pension. Later that night, when he checked again on his phone, it had vanished. Somehow, the cryptocurrency had been anonymously sent to another wallet. Read the full story here . 12:45 PM Uber offers back-dated holiday pay to 100,000 drivers in gig-economy shake-up Uber drivers of the App Drivers & Couriers Union celebrate as they listen to the court decision on a tablet computer outside the Supreme Court in London in February - Frank Augstein /AP Uber emailed over 100,000 current and former drivers on Thursday morning, making them aware they are now eligible for holiday pay back-dated to 2012. The new policy was created in response to a landmark decision by the Supreme Court in February which ruled that two former drivers for the app were entitled to worker benefits. Analysts expected the ruling to spark a tidal wave of claims against the taxi app. In an effort to draw a line under the issue, Uber announced this week it would reclassify its 70,000 UK drivers as workers who were entitled to the minimum wage, holiday pay and pensions. As part of those measures, past and present drivers will be able to apply for back-dated holiday pay in the form of cash settlements amounting to 12pc of their earnings, according to Uber. Drivers are being encouraged to apply directly through the company instead of using No Win No Fee claims lawyers. For drivers who joined Uber after summer 2016, they will be compensated for 12pc of the time they spent carrying out trips on the app. However the Supreme Court ruling means those who joined before summer 2016, could receive significantly more. Due to a now discontinued app feature which penalised them for turning down trips, drivers may be able to argue they were technically working for the entire time they were logged on. The company will also compensate drivers if records show their earnings from the app fell below the national living wage. This is calculated against the time they spent carrying out trips, not the time they spent logged in. The UK is Uber's biggest European market and it is also the first country in the world where the company will implement this new type of gig-economy business model. A report by Morgan Stanley described the policy change as a headwind that would cost between £180m and £250m over the next financial year, equal to around 8-10pc of UK bookings. Uber is expecting to absorb the costs of the new policy through growth, with the company anticipating a post-pandemic surge in demand. 12:36 PM Top Australian police officer sparks storm with suggestion of sexual consent app One of Australia's top police officers has faced a barrage of criticism on Thursday for his suggestions that an app could be used to record sexual consent. In response to figures showing sexual assault reports last year had risen 10pc in Sydney's home state, New South Wales, the regional police commissioner Mick Fuller said an app that could digitally document agreements to proceed with sex could be "part of the solution". “Just as we’ve had to check-in at the coffee shop to keep people safe, is there a way consent can be confirmed or documented?” he wrote in an opinion piece. "I am just suggesting: is it part of the solution? Maybe it's not, but if we don't do something then more and more women are going to come forward seeking justice for sexual violence," he later told reporters. An app to confirm sexual consent? It’s good @nswpolice is acknowledging the need for affirmative consent, but this isn’t a safe way forward. The abuser can simply coerce the victim to use the app. 1/2) https://t.co/0dBTx06kLH — Hayley Foster (@HayleyFoster_) March 17, 2021 The suggestion sparked backlash from women's groups and on Thursday morning, the hashtag #rapeapp was trending in Australia. Hayley Foster, the chief executive at Women's Safety NSW, suggested women could just be coerced into giving consent on the app. Annabelle Daniel, head of the charity Women's Community Shelters, said: "I'm mystified by the ongoing belief that technology must be a good solution in situations where we are dealing with power, nuance and complex human behaviour". Fuller admitted it might be "the worst idea I have all year". But he suggested Covid contact tracing apps had demonstrated the important of solutions offered by technology. "If someone told me two years ago that we would have to sign in our phones every time we sat down at a restaurant, I would've laughed at them," he said. No, an app for recording sexual consent is NOT a good idea. It ‘proves’ nothing, because consent can be withdrawn at any time If anyone comes at you with a sex consent app, RUN A MILE and don’t look back. They’re looking for deniability, *not* your safety, comfort or pleasure. — Miss IG Geek (she/her) 🏳️🌈 (@MissIG_Geek) March 18, 2021 11:03 AM Google expected to invest over $7 billion in US offices and data centres this year Google has announced plans to invest more than $7bn (£5bn) in offices and data centres across the US this year, while also creating 10,000 full-time US-based jobs. The announcement arrives amid deep uncertainty about whether remote work is here to stay. While other tech giants have signalled remote work will play a more significant role in their workforce , Google CEO Sundar Pichai said on Thursday: "Coming together in person to collaborate and build community is core to Google's culture and it will be an important part of our future. So we will continue to make significant investments in our offices around the country, as well as our home state of California where we will be investing over $1bn this year." The tech giant also plans to invest in data centre expansions in Nebraska, South Carolina, Virginia, Nevada and Texas. 10:51 AM Wearables start-up raises funds for headphones that are also earrings A start up is developing a range of earrings that also function as headphones, using a technology called "directional sound". Munich-based Nova is raising funds on Kickstarter to find backers to support its "audio earrings", which embed headphones and microphones into real pearls. By Thursday, the last day of the crowdfunding campaign, the company had more than doubled its original £30,000 target. Because the "audio earrings" have small batteries, the company says they are not designed for listening to very loud music. Instead, the earrings are meant to enable users to listen to music at radio-volume, talk on the phone or communicate with their phone's digital assistant. The directional sound technology means sound travels straight from the earlobe to the ear canal. That means even though the headphone sits in the same position as an earring, the company says no sound leaks into surrounding area. 10:24 AM BT boost as Ofcom rules out price caps Trainee engineers from BT Openreach practice at a training facility in West Hanningfield in south Essex - Chris Ratcliffe /Bloomberg News Ofcom is attempting to ramp up the country's broadband upgrade by allowing BT to charge higher prices for full-fibre connectivity for the next decade, reports my colleague Ben Woods . The communications regulator has told broadband builders that wholesale prices on full fibre will not be capped until 2031 at the earliest, handing the industry more certainty to invest. The move is part of a plan to wean the country off the older, more unreliable copper broadband network by keeping prices on those services flat before shutting it down entirely. BT said the announcement was "broadly in line with expectations" and would allow it to earn a fair return on its £12bn investment to help carpet 85pc of the nation in gigabit speeds by 2025. The telecoms giant confirmed it would now aim to lay full fibre to 20m homes and businesses by the mid-to-late 2020s. You can read his full story here . 09:27 AM Row breaks out between Ireland and Germany about regulating big tech German officials have attacked the effectiveness of Irish regulator in charge of overseeing big tech's compliance with European privacy rules, the GDPR. Yesterday, Ulrich Kelber, Germany's chief data protection watchdog, wrote to European Parliament members criticising Ireland's "extremely slow case handling, which falls significantly behind the case handling progress of most EU and especially German supervisors". He complained Germany had "sent more than 50 complaints about WhatsApp to Irish authorities, "none of which had been closed to date." Kelber also added by the end of last year, Ireland was leading 196 cases but had concluded just four. In comparison, Germany had closed 52 out of 176 cases. The duty of regulating big tech falls to Ireland because Dublin has emerged as hub for Silicon Valley firms' European headquarters. There have long been concerns about the ability of data protection regulators - who often complain of being underfunded and short staffed - to stand up to some of the world's most valuable companies. Kelber's comments came in response to a letter from Helen Dixon, data protection officer in Dublin, defending Ireland's record to the European Parliament. Germany strikes back with a shocking inditement of Ireland's GDPR enforcer: despite being the EU's lead authority for Google, Facebook, Microsoft, Apple, etc., the Irish DPC has produced just 4 GDPR decisions (cross-border) since the GDPR, 3 years ago. https://t.co/NTUhFjea4o pic.twitter.com/ecrKC18EOS — Johnny Ryan (@johnnyryan) March 17, 2021 08:16 AM More than 200,000 join UK freelancing platform, in midst of pandemic job losses The freelance marketplace, People Per Hour, has seen almost a quarter of a million Britons join looking for work since the onset of the pandemic, as the virus pushes the UK to its highest level of unemployment for five years. The company reported more than 227,000 people had applied as freelancers in 2020, up 60pc from the previous year. A quarter of them joined due to lost employment, said People per Hour. Freelancers who sign up to the platform can bid for jobs, such as writing a blog post, designing a website or creating an illustration. People Per Hour is one of a growing number of companies catering to " crowdwork ", a type of outsourcing which functions as the online equivalent of the gig economy. People are hired on a per-task basis to do tasks which can be completed entirely on the internet. 08:00 AM Royal Mail adds barcodes to stamps for first time Royal mail stamp with barcode Royal Mail is set to trail barcodes on its stamps in an effort to modernise the service, reports my colleague Michael Cogley. However the barcodes, which will appear on second-class stamps sold to business customers, don't yet have a purpose and Royal Mail said they will be testing a variety of applications. Nick Landon, the chief commercial officer at Royal Mail, said: "By doing this, we are looking to transform the humble stamp so that we can offer our customers even more convenient, new services in the future. “Royal Mail has a long and proud history for creating innovative and intuitive postal solutions. This goes all the way back to the Penny Black which established the principle of the one-price-goes-anywhere universal service – to the recent launch of Parcel Collect – where we pick up our customers’ parcels from the doorstep.” Read the full story here . 07:33 AM Uber to offer current and former drivers cash payments in place of backdated holiday pay Ride-hailing app Uber is expected to contact both current and former drivers, offering them cash payments in place of backdated holiday pay. On Tuesday, the company said it would offer all of its 70,000 drivers in the UK, its biggest European market, benefits such as the minimum wage, holiday pay and pensions in a fundamental shake-up to the gig economy business model. However there remains some dispute over whether the minimum wage should be paid to drivers only when they are undertaking trips, or if the time they spend waiting for fares should also count. Unions have argued the latter and are threatening further court action in the near future. 07:02 AM Five stories to start your day 1) Royal Mail adds barcodes to stamps for the first time The company claims the new codes will open up the 'humble' stamp to an array of digital services 2) Uber facing up to $350m in new costs for UK drivers' pensions and holiday pay The taxi app lost a legal battle in the UK earlier this year over drivers' status 3) Skateboarding internet star Nathan Apodaca to sell viral TikTok for $500k Mr Apodoca to auction 23-second clip that put Fleetwood Mac's Dreams back in the charts 4) Apple cuts off iPhone camera supplier accused of Uighur violations Apple is known to be a major client of O-Film, which makes camera and touch module parts 5) Robin Pagnamenta: £1bn plan to decarbonise heavy industry misses the vital point The thumping 170 page blueprint to turn Britain green is well-meaning but lacks ambition || Morgan Stanley Takes a Big Step Towards a Bitcoin Future: - By Margaret Moran
In an internal memo Wednesday, investment bank Morgan Stanley (NYSE:MS) told financial advisors that it is launching access to three funds that enable ownership of bitcoin for its wealth management clients: two from crypto firm Galaxy Digital and one from a joint effort between asset manager FS Investments and bitcoin company NYDIG.
This would mark the first time a U.S. bank major has offered clients access to bitcoin funds, and even though it is only offering stakes in the funds to wealthy individuals who have at least $2 million in assets with the bank and investment firms with at least $5 million deposited, this still represents a big step forward towards the acceptance of bitcoin and other cryptocurrencies as an asset class.
• Warning! GuruFocus has detected 8 Warning Signs with MS. Click here to check it out.
• MS 15-Year Financial Data
• The intrinsic value of MS
• Peter Lynch Chart of MS
Big banks' hesitation
Big banks are not big fans of bitcoin for a number of reasons. For one, some investors will deposit huge amounts of money only to wire it right back out to a wallet or brokerage that will convert it to bitcoin or another cryptocurrency. These in-and-out transactions don't really benefit the bank and could conceivably be used to fund criminal activity as blockchain transactions are more difficult to track than card or wire purchases. Additionally, the historical volatility of cryptocurrencies makes it incredibly risky as an investment vehicle.
However, for banks, all other concerns pale in comparison to the risk posed by the very purpose of cryptocurrencies, which is to provide a decentralized digital currency using a peer-to-peer network without a central bank or any other intermediary.
Banks have long been (and still are) the go-to intermediaries of financial and capital markets, so moving transactions away from them and to the blockchain would basically take away part of their income. Relying on the simple model of safely storing and paying interest on deposits while issuing out those same deposits again as loans to collect higher interest, the traditional banking system has had a growing monopoly on financial transactions for centuries.
Fintech innovations have the potential to basically allow anyone to be their own bank using the peer-to-peer network, relying on fingerprint, retinal scan or even more complex security measures such as cold storage wallets to store funds. In this kind of system, banks would not be needed, and the more people that can access this system, the less funds banks will be able to leverage for their own profits.
A response to demand
In light of the above concerns, it might come as a surprise to many that Morgan Stanley would even consider providing clients with a method to invest in bitcoin.
The bank's move seems to have been made in response to client demand. Bitcoin's rally over the past year has put Wall Street under pressure to get involved in the asset class, and while traditional banking activities may face headwinds from cryptocurrencies, Wall Street does not share this problem.
Indeed, Morgan Stanley's minimum requirements that wealth management clients must meet in order to invest in bitcoin through its funds clearly show that this move was made more to appease its high-net-worth clients than anything else. Even those few that meet the minimum standards to qualify for the funds will be limited to investing a maximum of 2.5% of their total net worth to bitcoin.
Conclusion
Morgan Stanley's decision to cave to the demands of wealthy clients and offer bitcoin funds represents an important step in the acceptance of cryptocurrencies as an asset class. Even if the companies engaged in traditional banking don't like it, cryptocurrencies continue to gain both users and investors, giving it value on Wall Street and creating demand even among wealthy clients that have a more established history with banks than those farther down the income ladder.
Goldman Sachs (NYSE:GS), JPMorgan Chase (NYSE:JPM) and Bank of America (NYSE:BAC) still do not allow their advisors to offer direct investments in bitcoin. In fact, many big banks specifically prohibit the purchase of bitcoin by debit card, credit card or bank account. Investors interested in this asset class may want to keep an eye out for further concessions by banks to the demand for cryptocurrency.
Disclosure: Author owns no shares in any of the stocks mentioned. The mention of stocks in this article does not at any point constitute an investment recommendation. Investors should always conduct their own careful research and/or consult registered investment advisors before taking action in the stock market.
Read more here:
• Lennar Corp: Have We Reached the Top of the Cycle?
• The Top Holdings of the Decade's Top-Performing Gurus
• High-Quality Clean Energy Picks for the ETF Rebound
Not a Premium Member of GuruFocus? Sign up for a free 7-day trial here.
This article first appeared onGuruFocus. || Morgan Stanley Takes a Big Step Towards a Bitcoin Future: - By Margaret Moran In an internal memo Wednesday, investment bank Morgan Stanley (NYSE:MS) told financial advisors that it is launching access to three funds that enable ownership of bitcoin for its wealth management clients: two from crypto firm Galaxy Digital and one from a joint effort between asset manager FS Investments and bitcoin company NYDIG. This would mark the first time a U.S. bank major has offered clients access to bitcoin funds, and even though it is only offering stakes in the funds to wealthy individuals who have at least $2 million in assets with the bank and investment firms with at least $5 million deposited, this still represents a big step forward towards the acceptance of bitcoin and other cryptocurrencies as an asset class. Warning! GuruFocus has detected 8 Warning Signs with MS. Click here to check it out. MS 15-Year Financial Data The intrinsic value of MS Peter Lynch Chart of MS Big banks' hesitation Big banks are not big fans of bitcoin for a number of reasons. For one, some investors will deposit huge amounts of money only to wire it right back out to a wallet or brokerage that will convert it to bitcoin or another cryptocurrency. These in-and-out transactions don't really benefit the bank and could conceivably be used to fund criminal activity as blockchain transactions are more difficult to track than card or wire purchases. Additionally, the historical volatility of cryptocurrencies makes it incredibly risky as an investment vehicle. However, for banks, all other concerns pale in comparison to the risk posed by the very purpose of cryptocurrencies, which is to provide a decentralized digital currency using a peer-to-peer network without a central bank or any other intermediary. Banks have long been (and still are) the go-to intermediaries of financial and capital markets, so moving transactions away from them and to the blockchain would basically take away part of their income. Relying on the simple model of safely storing and paying interest on deposits while issuing out those same deposits again as loans to collect higher interest, the traditional banking system has had a growing monopoly on financial transactions for centuries. Story continues Fintech innovations have the potential to basically allow anyone to be their own bank using the peer-to-peer network, relying on fingerprint, retinal scan or even more complex security measures such as cold storage wallets to store funds. In this kind of system, banks would not be needed, and the more people that can access this system, the less funds banks will be able to leverage for their own profits. A response to demand In light of the above concerns, it might come as a surprise to many that Morgan Stanley would even consider providing clients with a method to invest in bitcoin. The bank's move seems to have been made in response to client demand. Bitcoin's rally over the past year has put Wall Street under pressure to get involved in the asset class, and while traditional banking activities may face headwinds from cryptocurrencies, Wall Street does not share this problem. Indeed, Morgan Stanley's minimum requirements that wealth management clients must meet in order to invest in bitcoin through its funds clearly show that this move was made more to appease its high-net-worth clients than anything else. Even those few that meet the minimum standards to qualify for the funds will be limited to investing a maximum of 2.5% of their total net worth to bitcoin. Conclusion Morgan Stanley's decision to cave to the demands of wealthy clients and offer bitcoin funds represents an important step in the acceptance of cryptocurrencies as an asset class. Even if the companies engaged in traditional banking don't like it, cryptocurrencies continue to gain both users and investors, giving it value on Wall Street and creating demand even among wealthy clients that have a more established history with banks than those farther down the income ladder. Goldman Sachs (NYSE:GS), JPMorgan Chase (NYSE:JPM) and Bank of America (NYSE:BAC) still do not allow their advisors to offer direct investments in bitcoin. In fact, many big banks specifically prohibit the purchase of bitcoin by debit card, credit card or bank account. Investors interested in this asset class may want to keep an eye out for further concessions by banks to the demand for cryptocurrency. Disclosure: Author owns no shares in any of the stocks mentioned. The mention of stocks in this article does not at any point constitute an investment recommendation. Investors should always conduct their own careful research and/or consult registered investment advisors before taking action in the stock market. Read more here: Lennar Corp: Have We Reached the Top of the Cycle? The Top Holdings of the Decade's Top-Performing Gurus High-Quality Clean Energy Picks for the ETF Rebound Not a Premium Member of GuruFocus? Sign up for a free 7-day trial here. This article first appeared on GuruFocus . || Morgan Stanley Takes a Big Step Towards a Bitcoin Future: - By Margaret Moran
In an internal memo Wednesday, investment bank Morgan Stanley (NYSE:MS) told financial advisors that it is launching access to three funds that enable ownership of bitcoin for its wealth management clients: two from crypto firm Galaxy Digital and one from a joint effort between asset manager FS Investments and bitcoin company NYDIG.
This would mark the first time a U.S. bank major has offered clients access to bitcoin funds, and even though it is only offering stakes in the funds to wealthy individuals who have at least $2 million in assets with the bank and investment firms with at least $5 million deposited, this still represents a big step forward towards the acceptance of bitcoin and other cryptocurrencies as an asset class.
• Warning! GuruFocus has detected 8 Warning Signs with MS. Click here to check it out.
• MS 15-Year Financial Data
• The intrinsic value of MS
• Peter Lynch Chart of MS
Big banks' hesitation
Big banks are not big fans of bitcoin for a number of reasons. For one, some investors will deposit huge amounts of money only to wire it right back out to a wallet or brokerage that will convert it to bitcoin or another cryptocurrency. These in-and-out transactions don't really benefit the bank and could conceivably be used to fund criminal activity as blockchain transactions are more difficult to track than card or wire purchases. Additionally, the historical volatility of cryptocurrencies makes it incredibly risky as an investment vehicle.
However, for banks, all other concerns pale in comparison to the risk posed by the very purpose of cryptocurrencies, which is to provide a decentralized digital currency using a peer-to-peer network without a central bank or any other intermediary.
Banks have long been (and still are) the go-to intermediaries of financial and capital markets, so moving transactions away from them and to the blockchain would basically take away part of their income. Relying on the simple model of safely storing and paying interest on deposits while issuing out those same deposits again as loans to collect higher interest, the traditional banking system has had a growing monopoly on financial transactions for centuries.
Fintech innovations have the potential to basically allow anyone to be their own bank using the peer-to-peer network, relying on fingerprint, retinal scan or even more complex security measures such as cold storage wallets to store funds. In this kind of system, banks would not be needed, and the more people that can access this system, the less funds banks will be able to leverage for their own profits.
A response to demand
In light of the above concerns, it might come as a surprise to many that Morgan Stanley would even consider providing clients with a method to invest in bitcoin.
The bank's move seems to have been made in response to client demand. Bitcoin's rally over the past year has put Wall Street under pressure to get involved in the asset class, and while traditional banking activities may face headwinds from cryptocurrencies, Wall Street does not share this problem.
Indeed, Morgan Stanley's minimum requirements that wealth management clients must meet in order to invest in bitcoin through its funds clearly show that this move was made more to appease its high-net-worth clients than anything else. Even those few that meet the minimum standards to qualify for the funds will be limited to investing a maximum of 2.5% of their total net worth to bitcoin.
Conclusion
Morgan Stanley's decision to cave to the demands of wealthy clients and offer bitcoin funds represents an important step in the acceptance of cryptocurrencies as an asset class. Even if the companies engaged in traditional banking don't like it, cryptocurrencies continue to gain both users and investors, giving it value on Wall Street and creating demand even among wealthy clients that have a more established history with banks than those farther down the income ladder.
Goldman Sachs (NYSE:GS), JPMorgan Chase (NYSE:JPM) and Bank of America (NYSE:BAC) still do not allow their advisors to offer direct investments in bitcoin. In fact, many big banks specifically prohibit the purchase of bitcoin by debit card, credit card or bank account. Investors interested in this asset class may want to keep an eye out for further concessions by banks to the demand for cryptocurrency.
Disclosure: Author owns no shares in any of the stocks mentioned. The mention of stocks in this article does not at any point constitute an investment recommendation. Investors should always conduct their own careful research and/or consult registered investment advisors before taking action in the stock market.
Read more here:
• Lennar Corp: Have We Reached the Top of the Cycle?
• The Top Holdings of the Decade's Top-Performing Gurus
• High-Quality Clean Energy Picks for the ETF Rebound
Not a Premium Member of GuruFocus? Sign up for a free 7-day trial here.
This article first appeared onGuruFocus. || How To Buy Bitcoin in UK: London, United Kingdom, March 17, 2021 (GLOBE NEWSWIRE) -- Bitcoin is not as complicated as it seems. It’s easy provided you know when and where to invest your funds to make the right Bitcoin Purchase. In this Guide, we atDailyBitcoinJournalwill throw light on the best exchanges which allow users to buy bitcoin in the UK and help you to make a better choice for your next Bitcoin Purchase. Let's begin, Shall we?
Coinbase:Coinbase is considered one of the safest and easiest ways of buying Bitcoin in the UK. With GBP deposits via fast payments. Coinbase is one of the first platforms to hold an FCA-approved e-money license making them safe and approved. They only charge a transaction fixed fee of 0.5 % which is the lowest in the market and it's very easy to use.
How to Buy Bitcoins in UK using Coinbase?
1. You need to open a coinbase account by signing up atCoinbase
2. Once you set up the accounts, it is highly recommended that you set up security along with it (Two-factor authentication)
3. To add your funds, you need to go to Coinbase.com, login with your account and access settings→ Payment options→ Add your bank accounts to transfer the funds.
4. Once your bank gets added it gets linked with your Coinbase Pro account as well. You can access coinbase pro using pro.coinbase.com.
5. Once you access the page, you can click on the Deposit button and you can access the bank account that you have added using coinbase.com.
Binance:Since its launch in 2017, Binance has come a long way and is now considered the biggest Cryptocurrency trading platform and maintains the highest 24-hour trading volume. Binance allows its users in Uk to directly deposit funds in their account with debit and credit cards. Binance charges a 0.1% spot trading fee and 0.5% instant buy/sell trading fee along with some withdrawal fees based on Bitcoin network fees. The trading fee on Binance is an affordable price to pay for a platform that offers the one of the highest number of Crypto trading pairs to trade. Binance is also known for the simple and elegant API that facilitates effective trading with utmost transparency.
How to buy Bitcoin in the UK using Binance?
1. Open up aBinance accountby entering the basic details that you would be needing to open any account.2. Once you access your account, you need to protect your account with two-factor authentication to enable security measures in place.3. Once you are done with the basic setups, you will be inside your trading account.4. Click on the exchange button on the task bar and choose basic for trading.5. Once you complete that, you will be put up with a set of trading pairs that you can select from.6. you can link your debit/credit card or bank account and Deposit your funds.7. Make sure you have enough balance in your Binance wallet before you make the purchase.
Wirex:
Wirex was considered the cheapest among the other competitors where you can buy bitcoin. Wirex charges 1% fee to buy bitcoin using a debit or credit card and Bank deposits are completely free of charge but can take up to 2-3 days to show up in your account and are also only available to users with a fiat account. Wirex also charges fixed account maintenance fees but if you are ok with some extra charges, Wirex might just be what you are looking for when it comes to making your Bitcoin purchase.
Here’s how to Buy Bitcoin in UK from Wirex
1. Create awirex accountand login in. Click on the accounts option that you can access on the left side and select the account to which you want to transfer the fund to.
2. Click on the add funds options and once that is done, you will have to select the option via which you would add the funds.
3. Complete the transaction and you should see the funds in your account. You might experience a delay in having the funds into your account depending on the partner bank/card that you use.
Paxful:
Paxful is a P2P Bitcoin buying and selling marketplace where you can find bitcoin buyers or sellers near you. Paxful’s customer-to-customer trading platform that permits the exchange of local currencies for Bitcoin. Bitcoin Buyers can post about their offers with exchange rates and or explore the best possible offers from multiple sellers. You can filter offers based on Seller’s Buy rate, Trust score, Payment Methods etc. The payment options offered here are huge, You can buy bitcoin with Paypal, Credit Card, Bank transfers, Western Union transfers, Cash transfers etc.Paxfulalso allows customers to buy or sell Bitcoins with Gift Cards. Paxful charges 0.5% - 3% fees when you sell Bitcoins on their platform depending upon the Payment method. You will also be asked to verify your identity to make it a safe space as it is a P2P trading platform.
Local Bitcoins:
Localbitcoin is Another leading P2P Bitcoin buying and selling platform like Paxful. LocalBitcoins faced a lot of problems during its initial days of launch and over the period of time, it became better at making trading easy and safe. It is the same as any peer-peer trading platform where you can make a purchase depending on the offers that are on the adverts or else make an offer with the cryptocurrency you have.Localbitcoinallows users to buy bitcoin with Credit card, Paypal, Bank transfers etc. Make sure you trade with a verified user when you use local bitcoins, same as what you would do with any other peer-peer trading platform.
Coinmama:
One of the most recent popular hits in the trading space to buy Bitcoin is Coinmama. The company is known for the spectacular support that it offers with every trade and the prices mentioned seem to be as same as the ones quoted in the market. But with every privilege comes a downside and this is a bit on the heavy side. Coinmama charges its customer 5.5% transaction fee for trading. One of the most commonly mistaken facts about Coinmama is that Coinmama is not a crypto wallet and this means that you will have to have a wallet added to your coinmama account before making a purchase.
How to buy Bitcoin in UK from Coinmama?
1. Create acoinmama accountand get it verified with simple on-screen prompts.
2. Once the coinmama account is created, you will have to set up the wallet in the account by entering the wallet address. (Note: Make sure that the wallet address is correct as entering a wrong wallet address will make it impossible to retrieve your coins)
3. Once the wallet is set up, you will have to select the crypto coin that you would like to buy. Once you select that, you can select the amount that you want to buy and make the purchase with the desired payment method.
4. Once the payment has been cleared from your bank, you can see the coins reflected in your wallet in 1-3 business days.
Crypto.Com
Crypto.com does not take up direct GBP transfers currently. This makes the process of buying, a lengthy one. With Crypto.com, you will have to download two applications, one is Revoult, a EUR-based banking application and the next is Crypto.com, where you make the actual purchase.
To use Crypto.com to buy bitcoin in the UK with net banking or debit/credit card, you need to create two accounts in two applications.
1. Open the Revolut application (a banking application) and create an account when you are prompted with a sign up message. You can add your bank account here in the settings of the application.
2. Open theCrypto.com applicationand open an account there as well.
3. The next step is to transfer GBP from your bank account and trade it for EUR in Revolut.
4. Once the EUR exchange is done, you can connect your revolut account with Crypto.com and transfer that EUR to buy Bitcoin and relevant cryptocurrencies.
Crypto.com does not charge any additional fees but revolut does if you process transactions on the weekends. When it completes a transaction that was initiated on the weekend, they charge you an extra 0.5% transaction fee. Therefore, if you are looking for flexibility and is someone new, this might not be the right platform.
CoinJar:
CoinJar is the perfect resource for you if you are looking forward to an easy way to buy Bitcoin with extra cash to spend on for transactions. If you want to start using CoinJar, the first thing is to;
How to Buy Bitcoin in UK from Coinjar?
1. Open a account in CoinJar by going to theirofficial site
2. Once you complete the sign-up, you will need to verify your account that hardly takes a small amount of time.
3. Once the verification is done, you will have to activate advanced security like the two-factor authentication to ensure your account is safe.
4. Once the account is authenticated and protected, you can proceed with the actual trading.
5. Once you have signed into the coinjar account, you need to navigate to the quick deposit option. (Desktop-version) or navigate to add funds option that is seen when you click the drop-down arrow near your profile icon.(Mobile-version)
6. Once you click on this, you will receive the PayID and reference number which you can make a payment against from your bank account.
7. You can transfer the funds that you would be requiring to make a bitcoin purchase and make the purchase once your account has been recharged.
Yes, CoinJar is one of the oldest cryptocurrency brokers that charge an additional 1% fixed fee against your Bitcoin purchase. They are also known to quote a little high on the exchange rate compared to what is seen on the market. Therefore, if you have got extra bucks and look for Simplicity, CoinJar should be your option.
CoinFloor:
If you are looking for a resource that offers real-time BTC to GBP exchange rates and allows you to buy bitcoin with debit card or credit card and fast GBP payment deposits, CoinFloor is your best option.
1. Open acoinflooraccount by signing in with the basic information.
2. Once you sign up, you will be able to access the Auto Buy deposit details in the application.
3. With the Auto Buy deposit details, login to your banking application.
4. You have two options.Choose recurring standing ordersMake a bank transfer and complete a Bitcoin purchase.
5. Once you have completed setting up your bank account with coinfloor you can directly buy bitcoin in UK and by transferring funds or scheduling recurring orders accordingly.
The only extras that you would need to be paying are a 0.3% fixed fee if you are making a low-volume purchase and £2.50 for every deposit made. These rates shouldn't be bothering you if you are making large-volume purchases.
Bittylicious:
If you are looking forward to a simple GBP transfer and making a purchase, they are your choice. All you have to do is enter the amount which you would like to buy and based on your entry you will be connected to the cheapest broker who has registered with Bittylicious. Once the broker receives payment, you receive the fund from an escrow to your wallet. The additional overhead is somewhere between 1.5-2% when you purchase on their platform.
Media DetailsCompany:DailyBitcoinJournalEmail:info@dailybitcoinjournal.comWebsite:https://dailybitcoinjournal.com
The views, suggestions and opinions expressed here are the sole responsibility of the experts. Via:Globalreleasewire || How To Buy Bitcoin in UK: London, United Kingdom, March 17, 2021 (GLOBE NEWSWIRE) -- Bitcoin is not as complicated as it seems. It’s easy provided you know when and where to invest your funds to make the right Bitcoin Purchase. In this Guide, we at DailyBitcoinJournal will throw light on the best exchanges which allow users to buy bitcoin in the UK and help you to make a better choice for your next Bitcoin Purchase. Let's begin, Shall we? Coinbase : Coinbase is considered one of the safest and easiest ways of buying Bitcoin in the UK. With GBP deposits via fast payments. Coinbase is one of the first platforms to hold an FCA-approved e-money license making them safe and approved. They only charge a transaction fixed fee of 0.5 % which is the lowest in the market and it's very easy to use. How to Buy Bitcoins in UK using Coinbase? You need to open a coinbase account by signing up at Coinbase Once you set up the accounts, it is highly recommended that you set up security along with it (Two-factor authentication) To add your funds, you need to go to Coinbase.com, login with your account and access settings→ Payment options→ Add your bank accounts to transfer the funds. Once your bank gets added it gets linked with your Coinbase Pro account as well. You can access coinbase pro using pro.coinbase.com. Once you access the page, you can click on the Deposit button and you can access the bank account that you have added using coinbase.com. Binance : Since its launch in 2017, Binance has come a long way and is now considered the biggest Cryptocurrency trading platform and maintains the highest 24-hour trading volume. Binance allows its users in Uk to directly deposit funds in their account with debit and credit cards. Binance charges a 0.1% spot trading fee and 0.5% instant buy/sell trading fee along with some withdrawal fees based on Bitcoin network fees. The trading fee on Binance is an affordable price to pay for a platform that offers the one of the highest number of Crypto trading pairs to trade. Binance is also known for the simple and elegant API that facilitates effective trading with utmost transparency. Story continues How to buy Bitcoin in the UK using Binance? 1. Open up a Binance account by entering the basic details that you would be needing to open any account. 2. Once you access your account, you need to protect your account with two-factor authentication to enable security measures in place. 3. Once you are done with the basic setups, you will be inside your trading account. 4. Click on the exchange button on the task bar and choose basic for trading. 5. Once you complete that, you will be put up with a set of trading pairs that you can select from. 6. you can link your debit/credit card or bank account and Deposit your funds. 7. Make sure you have enough balance in your Binance wallet before you make the purchase. Wirex : Wirex was considered the cheapest among the other competitors where you can buy bitcoin. Wirex charges 1% fee to buy bitcoin using a debit or credit card and Bank deposits are completely free of charge but can take up to 2-3 days to show up in your account and are also only available to users with a fiat account. Wirex also charges fixed account maintenance fees but if you are ok with some extra charges, Wirex might just be what you are looking for when it comes to making your Bitcoin purchase. Here’s how to Buy Bitcoin in UK from Wirex Create a wirex account and login in. Click on the accounts option that you can access on the left side and select the account to which you want to transfer the fund to. Click on the add funds options and once that is done, you will have to select the option via which you would add the funds. Complete the transaction and you should see the funds in your account. You might experience a delay in having the funds into your account depending on the partner bank/card that you use. Paxful : Paxful is a P2P Bitcoin buying and selling marketplace where you can find bitcoin buyers or sellers near you. Paxful’s customer-to-customer trading platform that permits the exchange of local currencies for Bitcoin. Bitcoin Buyers can post about their offers with exchange rates and or explore the best possible offers from multiple sellers. You can filter offers based on Seller’s Buy rate, Trust score, Payment Methods etc. The payment options offered here are huge, You can buy bitcoin with Paypal, Credit Card, Bank transfers, Western Union transfers, Cash transfers etc. Paxful also allows customers to buy or sell Bitcoins with Gift Cards. Paxful charges 0.5% - 3% fees when you sell Bitcoins on their platform depending upon the Payment method. You will also be asked to verify your identity to make it a safe space as it is a P2P trading platform. Local Bitcoins : Localbitcoin is Another leading P2P Bitcoin buying and selling platform like Paxful. LocalBitcoins faced a lot of problems during its initial days of launch and over the period of time, it became better at making trading easy and safe. It is the same as any peer-peer trading platform where you can make a purchase depending on the offers that are on the adverts or else make an offer with the cryptocurrency you have. Localbitcoin allows users to buy bitcoin with Credit card, Paypal, Bank transfers etc. Make sure you trade with a verified user when you use local bitcoins, same as what you would do with any other peer-peer trading platform. Coinmama : One of the most recent popular hits in the trading space to buy Bitcoin is Coinmama. The company is known for the spectacular support that it offers with every trade and the prices mentioned seem to be as same as the ones quoted in the market. But with every privilege comes a downside and this is a bit on the heavy side. Coinmama charges its customer 5.5% transaction fee for trading. One of the most commonly mistaken facts about Coinmama is that Coinmama is not a crypto wallet and this means that you will have to have a wallet added to your coinmama account before making a purchase. How to buy Bitcoin in UK from Coinmama? 1. Create a coinmama account and get it verified with simple on-screen prompts. 2. Once the coinmama account is created, you will have to set up the wallet in the account by entering the wallet address. (Note: Make sure that the wallet address is correct as entering a wrong wallet address will make it impossible to retrieve your coins) 3. Once the wallet is set up, you will have to select the crypto coin that you would like to buy. Once you select that, you can select the amount that you want to buy and make the purchase with the desired payment method. 4. Once the payment has been cleared from your bank, you can see the coins reflected in your wallet in 1-3 business days. Crypto.Com Crypto.com does not take up direct GBP transfers currently. This makes the process of buying, a lengthy one. With Crypto.com, you will have to download two applications, one is Revoult, a EUR-based banking application and the next is Crypto.com, where you make the actual purchase. To use Crypto.com to buy bitcoin in the UK with net banking or debit/credit card, you need to create two accounts in two applications. Open the Revolut application (a banking application) and create an account when you are prompted with a sign up message. You can add your bank account here in the settings of the application. Open the Crypto.com application and open an account there as well. The next step is to transfer GBP from your bank account and trade it for EUR in Revolut. Once the EUR exchange is done, you can connect your revolut account with Crypto.com and transfer that EUR to buy Bitcoin and relevant cryptocurrencies. Crypto.com does not charge any additional fees but revolut does if you process transactions on the weekends. When it completes a transaction that was initiated on the weekend, they charge you an extra 0.5% transaction fee. Therefore, if you are looking for flexibility and is someone new, this might not be the right platform. CoinJar : CoinJar is the perfect resource for you if you are looking forward to an easy way to buy Bitcoin with extra cash to spend on for transactions. If you want to start using CoinJar, the first thing is to; How to Buy Bitcoin in UK from Coinjar? Open a account in CoinJar by going to their official site Once you complete the sign-up, you will need to verify your account that hardly takes a small amount of time. Once the verification is done, you will have to activate advanced security like the two-factor authentication to ensure your account is safe. Once the account is authenticated and protected, you can proceed with the actual trading. Once you have signed into the coinjar account, you need to navigate to the quick deposit option. (Desktop-version) or navigate to add funds option that is seen when you click the drop-down arrow near your profile icon.(Mobile-version) Once you click on this, you will receive the PayID and reference number which you can make a payment against from your bank account. You can transfer the funds that you would be requiring to make a bitcoin purchase and make the purchase once your account has been recharged. Yes, CoinJar is one of the oldest cryptocurrency brokers that charge an additional 1% fixed fee against your Bitcoin purchase. They are also known to quote a little high on the exchange rate compared to what is seen on the market. Therefore, if you have got extra bucks and look for Simplicity, CoinJar should be your option. CoinFloor : If you are looking for a resource that offers real-time BTC to GBP exchange rates and allows you to buy bitcoin with debit card or credit card and fast GBP payment deposits, CoinFloor is your best option. Open a coinfloor account by signing in with the basic information. Once you sign up, you will be able to access the Auto Buy deposit details in the application. With the Auto Buy deposit details, login to your banking application. You have two options. Choose recurring standing orders Make a bank transfer and complete a Bitcoin purchase. Once you have completed setting up your bank account with coinfloor you can directly buy bitcoin in UK and by transferring funds or scheduling recurring orders accordingly. The only extras that you would need to be paying are a 0.3% fixed fee if you are making a low-volume purchase and £2.50 for every deposit made. These rates shouldn't be bothering you if you are making large-volume purchases. Bittylicious : If you are looking forward to a simple GBP transfer and making a purchase, they are your choice. All you have to do is enter the amount which you would like to buy and based on your entry you will be connected to the cheapest broker who has registered with Bittylicious. Once the broker receives payment, you receive the fund from an escrow to your wallet. The additional overhead is somewhere between 1.5-2% when you purchase on their platform. Media Details Company: DailyBitcoinJournal Email: info@dailybitcoinjournal.com Website: https://dailybitcoinjournal.com The views, suggestions and opinions expressed here are the sole responsibility of the experts. Via: Globalreleasewire || How To Buy Bitcoin in UK: London, United Kingdom, March 17, 2021 (GLOBE NEWSWIRE) -- Bitcoin is not as complicated as it seems. It’s easy provided you know when and where to invest your funds to make the right Bitcoin Purchase. In this Guide, we atDailyBitcoinJournalwill throw light on the best exchanges which allow users to buy bitcoin in the UK and help you to make a better choice for your next Bitcoin Purchase. Let's begin, Shall we?
Coinbase:Coinbase is considered one of the safest and easiest ways of buying Bitcoin in the UK. With GBP deposits via fast payments. Coinbase is one of the first platforms to hold an FCA-approved e-money license making them safe and approved. They only charge a transaction fixed fee of 0.5 % which is the lowest in the market and it's very easy to use.
How to Buy Bitcoins in UK using Coinbase?
1. You need to open a coinbase account by signing up atCoinbase
2. Once you set up the accounts, it is highly recommended that you set up security along with it (Two-factor authentication)
3. To add your funds, you need to go to Coinbase.com, login with your account and access settings→ Payment options→ Add your bank accounts to transfer the funds.
4. Once your bank gets added it gets linked with your Coinbase Pro account as well. You can access coinbase pro using pro.coinbase.com.
5. Once you access the page, you can click on the Deposit button and you can access the bank account that you have added using coinbase.com.
Binance:Since its launch in 2017, Binance has come a long way and is now considered the biggest Cryptocurrency trading platform and maintains the highest 24-hour trading volume. Binance allows its users in Uk to directly deposit funds in their account with debit and credit cards. Binance charges a 0.1% spot trading fee and 0.5% instant buy/sell trading fee along with some withdrawal fees based on Bitcoin network fees. The trading fee on Binance is an affordable price to pay for a platform that offers the one of the highest number of Crypto trading pairs to trade. Binance is also known for the simple and elegant API that facilitates effective trading with utmost transparency.
How to buy Bitcoin in the UK using Binance?
1. Open up aBinance accountby entering the basic details that you would be needing to open any account.2. Once you access your account, you need to protect your account with two-factor authentication to enable security measures in place.3. Once you are done with the basic setups, you will be inside your trading account.4. Click on the exchange button on the task bar and choose basic for trading.5. Once you complete that, you will be put up with a set of trading pairs that you can select from.6. you can link your debit/credit card or bank account and Deposit your funds.7. Make sure you have enough balance in your Binance wallet before you make the purchase.
Wirex:
Wirex was considered the cheapest among the other competitors where you can buy bitcoin. Wirex charges 1% fee to buy bitcoin using a debit or credit card and Bank deposits are completely free of charge but can take up to 2-3 days to show up in your account and are also only available to users with a fiat account. Wirex also charges fixed account maintenance fees but if you are ok with some extra charges, Wirex might just be what you are looking for when it comes to making your Bitcoin purchase.
Here’s how to Buy Bitcoin in UK from Wirex
1. Create awirex accountand login in. Click on the accounts option that you can access on the left side and select the account to which you want to transfer the fund to.
2. Click on the add funds options and once that is done, you will have to select the option via which you would add the funds.
3. Complete the transaction and you should see the funds in your account. You might experience a delay in having the funds into your account depending on the partner bank/card that you use.
Paxful:
Paxful is a P2P Bitcoin buying and selling marketplace where you can find bitcoin buyers or sellers near you. Paxful’s customer-to-customer trading platform that permits the exchange of local currencies for Bitcoin. Bitcoin Buyers can post about their offers with exchange rates and or explore the best possible offers from multiple sellers. You can filter offers based on Seller’s Buy rate, Trust score, Payment Methods etc. The payment options offered here are huge, You can buy bitcoin with Paypal, Credit Card, Bank transfers, Western Union transfers, Cash transfers etc.Paxfulalso allows customers to buy or sell Bitcoins with Gift Cards. Paxful charges 0.5% - 3% fees when you sell Bitcoins on their platform depending upon the Payment method. You will also be asked to verify your identity to make it a safe space as it is a P2P trading platform.
Local Bitcoins:
Localbitcoin is Another leading P2P Bitcoin buying and selling platform like Paxful. LocalBitcoins faced a lot of problems during its initial days of launch and over the period of time, it became better at making trading easy and safe. It is the same as any peer-peer trading platform where you can make a purchase depending on the offers that are on the adverts or else make an offer with the cryptocurrency you have.Localbitcoinallows users to buy bitcoin with Credit card, Paypal, Bank transfers etc. Make sure you trade with a verified user when you use local bitcoins, same as what you would do with any other peer-peer trading platform.
Coinmama:
One of the most recent popular hits in the trading space to buy Bitcoin is Coinmama. The company is known for the spectacular support that it offers with every trade and the prices mentioned seem to be as same as the ones quoted in the market. But with every privilege comes a downside and this is a bit on the heavy side. Coinmama charges its customer 5.5% transaction fee for trading. One of the most commonly mistaken facts about Coinmama is that Coinmama is not a crypto wallet and this means that you will have to have a wallet added to your coinmama account before making a purchase.
How to buy Bitcoin in UK from Coinmama?
1. Create acoinmama accountand get it verified with simple on-screen prompts.
2. Once the coinmama account is created, you will have to set up the wallet in the account by entering the wallet address. (Note: Make sure that the wallet address is correct as entering a wrong wallet address will make it impossible to retrieve your coins)
3. Once the wallet is set up, you will have to select the crypto coin that you would like to buy. Once you select that, you can select the amount that you want to buy and make the purchase with the desired payment method.
4. Once the payment has been cleared from your bank, you can see the coins reflected in your wallet in 1-3 business days.
Crypto.Com
Crypto.com does not take up direct GBP transfers currently. This makes the process of buying, a lengthy one. With Crypto.com, you will have to download two applications, one is Revoult, a EUR-based banking application and the next is Crypto.com, where you make the actual purchase.
To use Crypto.com to buy bitcoin in the UK with net banking or debit/credit card, you need to create two accounts in two applications.
1. Open the Revolut application (a banking application) and create an account when you are prompted with a sign up message. You can add your bank account here in the settings of the application.
2. Open theCrypto.com applicationand open an account there as well.
3. The next step is to transfer GBP from your bank account and trade it for EUR in Revolut.
4. Once the EUR exchange is done, you can connect your revolut account with Crypto.com and transfer that EUR to buy Bitcoin and relevant cryptocurrencies.
Crypto.com does not charge any additional fees but revolut does if you process transactions on the weekends. When it completes a transaction that was initiated on the weekend, they charge you an extra 0.5% transaction fee. Therefore, if you are looking for flexibility and is someone new, this might not be the right platform.
CoinJar:
CoinJar is the perfect resource for you if you are looking forward to an easy way to buy Bitcoin with extra cash to spend on for transactions. If you want to start using CoinJar, the first thing is to;
How to Buy Bitcoin in UK from Coinjar?
1. Open a account in CoinJar by going to theirofficial site
2. Once you complete the sign-up, you will need to verify your account that hardly takes a small amount of time.
3. Once the verification is done, you will have to activate advanced security like the two-factor authentication to ensure your account is safe.
4. Once the account is authenticated and protected, you can proceed with the actual trading.
5. Once you have signed into the coinjar account, you need to navigate to the quick deposit option. (Desktop-version) or navigate to add funds option that is seen when you click the drop-down arrow near your profile icon.(Mobile-version)
6. Once you click on this, you will receive the PayID and reference number which you can make a payment against from your bank account.
7. You can transfer the funds that you would be requiring to make a bitcoin purchase and make the purchase once your account has been recharged.
Yes, CoinJar is one of the oldest cryptocurrency brokers that charge an additional 1% fixed fee against your Bitcoin purchase. They are also known to quote a little high on the exchange rate compared to what is seen on the market. Therefore, if you have got extra bucks and look for Simplicity, CoinJar should be your option.
CoinFloor:
If you are looking for a resource that offers real-time BTC to GBP exchange rates and allows you to buy bitcoin with debit card or credit card and fast GBP payment deposits, CoinFloor is your best option.
1. Open acoinflooraccount by signing in with the basic information.
2. Once you sign up, you will be able to access the Auto Buy deposit details in the application.
3. With the Auto Buy deposit details, login to your banking application.
4. You have two options.Choose recurring standing ordersMake a bank transfer and complete a Bitcoin purchase.
5. Once you have completed setting up your bank account with coinfloor you can directly buy bitcoin in UK and by transferring funds or scheduling recurring orders accordingly.
The only extras that you would need to be paying are a 0.3% fixed fee if you are making a low-volume purchase and £2.50 for every deposit made. These rates shouldn't be bothering you if you are making large-volume purchases.
Bittylicious:
If you are looking forward to a simple GBP transfer and making a purchase, they are your choice. All you have to do is enter the amount which you would like to buy and based on your entry you will be connected to the cheapest broker who has registered with Bittylicious. Once the broker receives payment, you receive the fund from an escrow to your wallet. The additional overhead is somewhere between 1.5-2% when you purchase on their platform.
Media DetailsCompany:DailyBitcoinJournalEmail:info@dailybitcoinjournal.comWebsite:https://dailybitcoinjournal.com
The views, suggestions and opinions expressed here are the sole responsibility of the experts. Via:Globalreleasewire || Lessons From the Nifty Gateway NFT Heist: Not Your Keys, Not Your Art: Nifty Gateway, the popular non-fungible token marketplace,issued a statementMonday that a small group of its users experienced “account takeovers.” Victims claimed they either had their NFT art stolen or NFTs purchased and then stolen, using their credit card information. The NFTs were then sold again.
Today, however, a victim was tweeting that Nifty wasable to return the stolen NFTs.
Nifty Gateway has not responded to a request for comment on how it was able to return the NFTs, but it appears the thief did not move them from the centralized marketplace.
Related:Robinhood Hires Ex-Google Exec as its First Chief Product Officer
The news of the NFT art heist marked what appears to have been the first digital NFT theft of this new era for art. But with the artist Beeple selling an NFTfor a cool $69.3 millionon Friday, perhaps it shouldn’t be surprising. The art heist highlights not just the security steps and understanding of decentralization that users new to the scene might be lacking. It also raises interesting questions about the realities and future of NFT custody as the market continues to grow.
In the case of the Nifty theft, the perpetrator, it seems, also lacked an understanding of decentralization vs. centralization.
Over the weekend, a number of Twitter accounts started tweeting about the loss of NFTs in their Nifty Gateway accounts. One Twitter userclaimed to have lostmore than $150,000 worth of the collectible tokens. Another claimed his credit card on file with Nifty wasused to purchase more than $10,000 in NFTs, which were, in turn, allegedly stolen along with the rest of the collection.
In a statement posted to Twitter, Nifty said, “Our analysis is ongoing, but our initial assessment indicates that the impact was limited, none of the impacted accounts had 2FA enabled, and access was obtained via valid account credentials.”
Related:French Firm Launches Euro Stablecoin With Monthly Audits from PwC
Two-factor authentication (2FA) is not currently mandatory on Nifty Gateway, but that may be changing as a result of this compromise. 2FA is an extra layer of security that forces someone to provide two pieces of evidence proving his or her identity when trying to access an online account. Usually it comes in the form of a password and a unique code for one-time use.
“A few users were targeted and got their passwords compromised,” said Nifty Gateway co-founderGriffin Cock Fosteron Twitter. “In the meantime, make sure you haveAuthy 2faturned on, it would have prevented this!! We are strongly exploring making Authy 2fa mandatory for anyone who has made a purchase, but no commitments there yet.”
Originally, at least one victim planned to file a police report and contact his or her insurance company, but “there’s nothing I can do per the Nifty [terms of service].”
The NFT art heist draws clear lines around some of the risks of the NFT boom for users who may not be as familiar with the wider world of cryptocurrency, decentralization, and the inherent risks in such models.
“From what we know so far, fraudsters hacked into the Nifty Gateway user accounts (held in Nifty Gateway servers) by mostly stealing users passwords,” said Chakradhar Kommera (KC), chief technology officer atRubiX, a Blockchain-as-a-Service (BaaS) and crypto security solutions company. Because “all keys to the NFT ownership are stored in a centralized repository, identity compromise will result in loss of keys and the digital assets tied to them.”
2FA is common on exchanges and was present on Nifty Gateway but, per Nifty’s statement, the victims did not have it turned on.
Cryptocurrency and the areas adjacent to it have long been the subject of hacks, scams and thefts due to the pseudonymous nature of crypto and the decentralized models that lack a central body to, say, reverse a fraudulent transaction or return stolen NFTs.
Still, 2FA doesn’t solve everything. If something is online, it’s likely vulnerable in some way.
“Nifty Gateway is talking of implementing 2FA as a solution,” said KC. “We observed, though, given our years of cybersecurity experience, regular password-based 2FA/MFA is, itself, vulnerable, as seen in the recent SolarWinds and other mega cyber breaches. Centralized market places need to adopt passwordless multi-factor authentication or decentralized ID to better protect users.”
The security issue in crypto has led to extreme measures of security such as hardware wallets, multiple layers of authentication and the establishment of numerous blockchain analytics firms to track stolen funds. These firms have sincedeveloped into an industry of their own, with extensive government and industry contracts.
These measures are all put in place, and various people use them, because once coins (or NFTs) are stolen and moved off centralized platforms, it’s incredibly challenging to get them back. Even if law enforcement in the hacker’s jurisdiction gets involved, there’sno guarantee the issue will be resolved.
When Mt. Gox was hacked in 2014, it was the largest cryptocurrency exchange at the time. Years later, its trustees are stillworking through a legal settlementto at least partially compensate victims after hackers made off with millions of dollars in cryptocurrency.
Like any other cryptographic coin or token, an NFT is controlled by a private key. This private key is quite literally a key to the assets in a specific wallet. Whoever holds the private key (which is a long string of alphanumerics, sometimes represented as a 12- or 24-word phrase) can access and move the tokens or NFTs in the associated wallet.
Unlike a centralized service like PayPal or a bank-to-bank transfer, there is no Ethereum help desk you can consult to reverse an aberrant or otherwise unapproved transaction.
When you use a platform like Nifty Gateway, the platform holds your private keys for you. But in the event of a compromise, it does not have the ability to help you recover the stolen keys to your NFTs.
Once the transfer of an NFT, even a stolen NFT, is initiated by the holder or executed by a smart contract with a winning bid, it cannot be reversed by a third party or even by the sender. This immutability is an inherent part of the design of NFTs.
So once the hackers seized the accounts for some of the NFTs on Nifty Gateway, and had they moved them out of Nifty Gateway’s wallets and into wallets whose keys they controlled, those NFT keys would have been unretrievable.
It seems in this case, however, the hackers failed to do so; Nifty still held control over those keys.
For people (and let’s be honest, that’s most of us) who are raised in a world of centralized bodies and authorities, it’s hard to envision a situation where someone can make off with your digital art from an online museum, and then display it or sell it as if they themselves legitimately own it.
In crypto, however, possession is 10/10ths of the law.
“There’s not really a concept of a fenced article, a fenced item in our world, where you go to the police, and you say, ‘Here’s my VIN number of my car, it was sold to this used car dealer who sold it to some other guy,’” said William Quigley, co-founder of WAX (Worldwide Asset Exchange). “That apparatus doesn’t really exist, because we mostly are in this decentralized world where there aren’t those coordination capabilities.”
Going back to the previous example, one victim of the Nifty NFT art heist was able to halt the attacker from using credit card details associated with the Nifty Gateway account to reverse more than $10,000 in purchases for new NFTs. The thing is, it seems that person was only able to do so through the credit card company – a centralized entity.
Part of Nifty Gateway’s appeal is that users can buy NFTs with their credit cards rather than crypto. But for those who might be less familiar with the downsides of actual decentralization, skipping the steps of learning about it and going straight to an NFT market with fiat may overshadow the very real risks of a security breach.
“Let us face it, given the spate of recent cyberattacks, mostly caused by identity compromise, the problem is not just limited to decentralized platforms,” said KC. “Nifty Gateway is a classic case of a centralized platform that did not secure access and keys well. Decentralization results in strong security, but blockchains like Ethereum force use of layer 2/central intermediaries, causing problems. Overall, users need to understand decentralization security better before jumping in.”
The ability to reverse or abort a smart contract transaction could, potentially, be introduced into NFT contacts. But that comes with a whole new set of questions and considerations.
“You could build this into the NFT contracts, such that when something is stolen you have the ability to put a ‘claim’ on the blockchain that can then encumber the token,” said CoinDesk podcast editor Adam Levine, who is a vetern of the cryptocurrency industry. “Then the question becomes ‘how do you verify the claim,’ which gets into another rabbit hole of third parties. But it is possible, whereas in traditional cryptocurrencies it is flatly not possible.”
Non-fungible tokens are unique digital assets. Unlike fungible ones, such asbitcoin, where 1BTCis equal to 1 BTC, one NFT does not equal another NFT. They differ both in form and in value.
That uniqueness means that marketplaces could potentially create a blacklist of NFTs that have been stolen and moved off them, thereby decreasing their value as well as the incentive for stealing them.
The creation of a blacklist, like an option to reverse a smart contract, introduces a host of other issues, according to the heads of other token marketplaces.
Marguerite deCourcelle, CEO of blockchain-based video game Neon District, said something similar already exists within another blockchain-based game, Axie Infinity.
Blacklists are being used but they’re not being used around stolen property. Instead, they’re being used around some NFTs that are created in games. Specifically, Axie Infinity has taken a strong stance against botting or gold farming, which essentially messes with the economy of AXIE tokens (NFTs) within the game.
“This is also very important because they have an ERC 20 token associated with their economy,” said deCourcelle. “So if you start to bot and abuse, maliciously, their game-to-game economy and game design, then they will flag the account that is doing that behavior. And the NFTs associated with that account are at risk to be blacklisted from further participating in their ecosystem and their marketplaces.”
Zooming back from a gaming economy to the larger market of NFTs raises more questions than it answers, however.
“I think that currently these centralized entities and marketplaces need some sort of registry around different assets – when they are created, who the original creator is and some sort of way to verify in a decentralized fashion that that’s true,” said deCourcelle.
deCourcelle said there could be a function added like a kill switch that’s put into an NFT, but then you would need all the minting process done by these marketplaces to include that and incorporate it into the data itself. Whether they would do so is an open question, but it would require a lot of human work. Even if that work is done, though, it’s hard to imagine it being a fully decentralized environment.
“You could have something that triggers an effect when an NFT is no longer transferable and locked into an account, essentially,” said deCourcelle. “And I just don’t see how that can become completely decentralized.”
In other words, someone still has to be calling the shots as to when the stolen NFT is no longer transferable, according to deCourcelle. Any registration is being managed by somebody.
Quigley points out that any method of NFT theft remediation quickly gets into a hard-to-ascertain area where a centralized platform (like Nifty) would have to make value judgments as to whether an account was actually hacked, whether someone may have just regretted a purchase and then what level of responsibility the person may have to take. Very quickly that moves from the ethos of decentralization to a centralized body playing judge and jury.
“I do think you open up a Pandora’s box when you try to, as an NFT marketplace, figure out who actually had something happen,” said Quigley, “and whether it’s real and who has just made it up. And that’s why you just push all of the responsibility back down to the account owner.”
• Lessons From the Nifty Gateway NFT Heist: Not Your Keys, Not Your Art
• Lessons From the Nifty Gateway NFT Heist: Not Your Keys, Not Your Art || Lessons From the Nifty Gateway NFT Heist: Not Your Keys, Not Your Art: Nifty Gateway, the popular non-fungible token marketplace, issued a statement Monday that a small group of its users experienced “account takeovers.” Victims claimed they either had their NFT art stolen or NFTs purchased and then stolen, using their credit card information. The NFTs were then sold again. Today, however, a victim was tweeting that Nifty was able to return the stolen NFTs . Nifty Gateway has not responded to a request for comment on how it was able to return the NFTs, but it appears the thief did not move them from the centralized marketplace. Related: Robinhood Hires Ex-Google Exec as its First Chief Product Officer The news of the NFT art heist marked what appears to have been the first digital NFT theft of this new era for art. But with the artist Beeple selling an NFT for a cool $69.3 million on Friday, perhaps it shouldn’t be surprising. The art heist highlights not just the security steps and understanding of decentralization that users new to the scene might be lacking. It also raises interesting questions about the realities and future of NFT custody as the market continues to grow. In the case of the Nifty theft, the perpetrator, it seems, also lacked an understanding of decentralization vs. centralization. The Nifty Gateway hack Over the weekend, a number of Twitter accounts started tweeting about the loss of NFTs in their Nifty Gateway accounts. One Twitter user claimed to have lost more than $150,000 worth of the collectible tokens. Another claimed his credit card on file with Nifty was used to purchase more than $10,000 in NFTs , which were, in turn, allegedly stolen along with the rest of the collection. In a statement posted to Twitter, Nifty said, “Our analysis is ongoing, but our initial assessment indicates that the impact was limited, none of the impacted accounts had 2FA enabled, and access was obtained via valid account credentials.” Related: French Firm Launches Euro Stablecoin With Monthly Audits from PwC Two-factor authentication (2FA) is not currently mandatory on Nifty Gateway, but that may be changing as a result of this compromise. 2FA is an extra layer of security that forces someone to provide two pieces of evidence proving his or her identity when trying to access an online account. Usually it comes in the form of a password and a unique code for one-time use. “A few users were targeted and got their passwords compromised,” said Nifty Gateway co-founder Griffin Cock Foster on Twitter. “In the meantime, make sure you have Authy 2fa turned on, it would have prevented this!! We are strongly exploring making Authy 2fa mandatory for anyone who has made a purchase, but no commitments there yet.” Story continues Originally, at least one victim planned to file a police report and contact his or her insurance company, but “there’s nothing I can do per the Nifty [terms of service].” Security in crypto The NFT art heist draws clear lines around some of the risks of the NFT boom for users who may not be as familiar with the wider world of cryptocurrency, decentralization, and the inherent risks in such models. “From what we know so far, fraudsters hacked into the Nifty Gateway user accounts (held in Nifty Gateway servers) by mostly stealing users passwords,” said Chakradhar Kommera (KC), chief technology officer at RubiX , a Blockchain-as-a-Service (BaaS) and crypto security solutions company. Because “all keys to the NFT ownership are stored in a centralized repository, identity compromise will result in loss of keys and the digital assets tied to them.” 2FA is common on exchanges and was present on Nifty Gateway but, per Nifty’s statement, the victims did not have it turned on. Cryptocurrency and the areas adjacent to it have long been the subject of hacks, scams and thefts due to the pseudonymous nature of crypto and the decentralized models that lack a central body to, say, reverse a fraudulent transaction or return stolen NFTs. Still, 2FA doesn’t solve everything. If something is online, it’s likely vulnerable in some way. “Nifty Gateway is talking of implementing 2FA as a solution,” said KC. “We observed, though, given our years of cybersecurity experience, regular password-based 2FA/MFA is, itself, vulnerable, as seen in the recent SolarWinds and other mega cyber breaches. Centralized market places need to adopt passwordless multi-factor authentication or decentralized ID to better protect users.” The security issue in crypto has led to extreme measures of security such as hardware wallets, multiple layers of authentication and the establishment of numerous blockchain analytics firms to track stolen funds. These firms have since developed into an industry of their own , with extensive government and industry contracts. The risks of decentralization These measures are all put in place, and various people use them, because once coins (or NFTs) are stolen and moved off centralized platforms, it’s incredibly challenging to get them back. Even if law enforcement in the hacker’s jurisdiction gets involved, there’s no guarantee the issue will be resolved . When Mt. Gox was hacked in 2014, it was the largest cryptocurrency exchange at the time. Years later, its trustees are still working through a legal settlement to at least partially compensate victims after hackers made off with millions of dollars in cryptocurrency. Like any other cryptographic coin or token, an NFT is controlled by a private key. This private key is quite literally a key to the assets in a specific wallet. Whoever holds the private key (which is a long string of alphanumerics, sometimes represented as a 12- or 24-word phrase) can access and move the tokens or NFTs in the associated wallet. Unlike a centralized service like PayPal or a bank-to-bank transfer, there is no Ethereum help desk you can consult to reverse an aberrant or otherwise unapproved transaction. When you use a platform like Nifty Gateway, the platform holds your private keys for you. But in the event of a compromise, it does not have the ability to help you recover the stolen keys to your NFTs. Once the transfer of an NFT, even a stolen NFT, is initiated by the holder or executed by a smart contract with a winning bid, it cannot be reversed by a third party or even by the sender. This immutability is an inherent part of the design of NFTs. So once the hackers seized the accounts for some of the NFTs on Nifty Gateway, and had they moved them out of Nifty Gateway’s wallets and into wallets whose keys they controlled, those NFT keys would have been unretrievable. It seems in this case, however, the hackers failed to do so; Nifty still held control over those keys. Whoever holds the keys, owns the keys For people (and let’s be honest, that’s most of us) who are raised in a world of centralized bodies and authorities, it’s hard to envision a situation where someone can make off with your digital art from an online museum, and then display it or sell it as if they themselves legitimately own it. In crypto, however, possession is 10/10ths of the law. “There’s not really a concept of a fenced article, a fenced item in our world, where you go to the police, and you say, ‘Here’s my VIN number of my car, it was sold to this used car dealer who sold it to some other guy,’” said William Quigley, co-founder of WAX (Worldwide Asset Exchange). “That apparatus doesn’t really exist, because we mostly are in this decentralized world where there aren’t those coordination capabilities.” Going back to the previous example, one victim of the Nifty NFT art heist was able to halt the attacker from using credit card details associated with the Nifty Gateway account to reverse more than $10,000 in purchases for new NFTs. The thing is, it seems that person was only able to do so through the credit card company – a centralized entity. Part of Nifty Gateway’s appeal is that users can buy NFTs with their credit cards rather than crypto. But for those who might be less familiar with the downsides of actual decentralization, skipping the steps of learning about it and going straight to an NFT market with fiat may overshadow the very real risks of a security breach. “Let us face it, given the spate of recent cyberattacks, mostly caused by identity compromise, the problem is not just limited to decentralized platforms,” said KC. “Nifty Gateway is a classic case of a centralized platform that did not secure access and keys well. Decentralization results in strong security, but blockchains like Ethereum force use of layer 2/central intermediaries, causing problems. Overall, users need to understand decentralization security better before jumping in.” The ability to reverse or abort a smart contract transaction could, potentially, be introduced into NFT contacts. But that comes with a whole new set of questions and considerations. “You could build this into the NFT contracts, such that when something is stolen you have the ability to put a ‘claim’ on the blockchain that can then encumber the token,” said CoinDesk podcast editor Adam Levine, who is a vetern of the cryptocurrency industry. “Then the question becomes ‘how do you verify the claim,’ which gets into another rabbit hole of third parties. But it is possible, whereas in traditional cryptocurrencies it is flatly not possible.” Non-fungible tokens are unique digital assets. Unlike fungible ones, such as bitcoin , where 1 BTC is equal to 1 BTC, one NFT does not equal another NFT. They differ both in form and in value. That uniqueness means that marketplaces could potentially create a blacklist of NFTs that have been stolen and moved off them, thereby decreasing their value as well as the incentive for stealing them. An NFT heist blacklist in a truly decentralized model The creation of a blacklist, like an option to reverse a smart contract, introduces a host of other issues, according to the heads of other token marketplaces. Marguerite deCourcelle, CEO of blockchain-based video game Neon District, said something similar already exists within another blockchain-based game, Axie Infinity. Blacklists are being used but they’re not being used around stolen property. Instead, they’re being used around some NFTs that are created in games. Specifically, Axie Infinity has taken a strong stance against botting or gold farming, which essentially messes with the economy of AXIE tokens (NFTs) within the game. “This is also very important because they have an ERC 20 token associated with their economy,” said deCourcelle. “So if you start to bot and abuse, maliciously, their game-to-game economy and game design, then they will flag the account that is doing that behavior. And the NFTs associated with that account are at risk to be blacklisted from further participating in their ecosystem and their marketplaces.” Zooming back from a gaming economy to the larger market of NFTs raises more questions than it answers, however. “I think that currently these centralized entities and marketplaces need some sort of registry around different assets – when they are created, who the original creator is and some sort of way to verify in a decentralized fashion that that’s true,” said deCourcelle. deCourcelle said there could be a function added like a kill switch that’s put into an NFT, but then you would need all the minting process done by these marketplaces to include that and incorporate it into the data itself. Whether they would do so is an open question, but it would require a lot of human work. Even if that work is done, though, it’s hard to imagine it being a fully decentralized environment. “You could have something that triggers an effect when an NFT is no longer transferable and locked into an account, essentially,” said deCourcelle. “And I just don’t see how that can become completely decentralized.” In other words, someone still has to be calling the shots as to when the stolen NFT is no longer transferable, according to deCourcelle. Any registration is being managed by somebody. Quigley points out that any method of NFT theft remediation quickly gets into a hard-to-ascertain area where a centralized platform (like Nifty) would have to make value judgments as to whether an account was actually hacked, whether someone may have just regretted a purchase and then what level of responsibility the person may have to take. Very quickly that moves from the ethos of decentralization to a centralized body playing judge and jury. “I do think you open up a Pandora’s box when you try to, as an NFT marketplace, figure out who actually had something happen,” said Quigley, “and whether it’s real and who has just made it up. And that’s why you just push all of the responsibility back down to the account owner.” Related Stories Lessons From the Nifty Gateway NFT Heist: Not Your Keys, Not Your Art Lessons From the Nifty Gateway NFT Heist: Not Your Keys, Not Your Art View comments || Fintech Focus For March 18, 2021: Fintech Header Quote To Start The Day: First, have a definite, clear practical ideal; a goal, an objective. Second, have the necessary means to achieve your ends; wisdom, money, materials, and methods. Third, adjust all your means to that end. Source: Aristotle One Big Thing In Fintech: Founded in 2020, TradeUI is a fintech specializing in low-cost stock and option insights. The firm was founded after its founder saw the need for comprehensive stock and option-based trading alerts. “Typically, when you try to get into a trade, you match up a bunch of things like technical analysis and the news,” the firm's founder said in an explanation on how he intends to improve access to actionable market insights. “I’ve been backtesting for years and the idea was to ... build a tool that helps you find trades formatted in a way that anyone can use.” In the simplest way possible: TradeUI is a provider of low-cost unusual options activity alerts, as well as technical and fundamental analysis tools that help traders follow the smart money. “It’s a tool to help you take high-confidence, more successful, lower-risk trades.” Source: Benzinga Other Key Fintech Developments: Feedzai intros AI fairness tech. Kraken may go public next year. Investors warm to Lending Club. Grayscale adds to crypto trusts. Bitpanda becomes Euro unicorn. VC Group 11 closes a new fund. Coinbase files revised S-1 form. PFOF poses conflicts of interest. Fiserv used unclaimed domain. DepositLink raised $3M for tech. Diem raises $5.5M seed round. Capitolis teams with AcadiaSoft. Blend strengthens homebuying. Score grew RCM-X partnership. MX bolstering financial insights. Morgan Stanley adds BTC offer. Robinhood adds deposit bonus. Watch Out For This: More than half of U.S. small businesses are fully reopened as local or federal pandemic shutdowns ease, according to a report from Kabbage, an American Express Company-owned fintech providing business cash flow solutions. Source: Benzinga Interesting Reads: Truth about how much to work . How small business survived . IRS to delay US tax deadlines. How to blow up your new Jeep. Bank branches will turn extinct . NFTs : What should you know? Banks place billions into China. Story continues Market Moving Headline: Federal Reserve Chair Jerome Powell and his colleagues continued to project near-zero interest rates at least through 2023 despite upgrading their U.S. economic outlook and the mounting inflation worries in financial markets. The decision, which came on a volatile day for investors with Treasury yields surging ahead of the announcement, masked a growing number of officials who saw liftoff before then -- though Powell stressed this remains a minority view. “The strong bulk of the committee is not showing a rate increase during this forecast period,” Powell told a virtual press conference Wednesday following a meeting of the Federal Open Market Committee, adding that the time to talk about reducing the central bank’s asset purchases was “not yet.” Source: Bloomberg See more from Benzinga Click here for options trades from Benzinga More Than 50% Of Small Businesses Have Reopened: Survey Intelligent Trading With TradeUI's Stock, Option Order Flow Insights © 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Stock Market Today: Fed's Smooth Talking Sends Dow Above 33K: Federal Reserve Getty Images Federal Reserve Chair Jerome Powell and the rest of the U.S. central bank deftly walked the expectations tightrope in their post-FOMC meeting commentary Wednesday – at least, that's what the afternoon jump in stocks indicated. The Fed upgraded its expectations for 2021 GDP growth to 6.5%, from 4.2% back in December – while also lifting its projections for core inflation, which it now sees hitting 2.2% (up from its previous forecast of 1.8%). SEE MORE 11 Hot Upcoming IPOs to Watch For in the Rest of 2021 But the Fed's interest-rate policy remained unchanged, and while a few members signaled that interest-rate hikes might come sooner than they believed a few months ago, the mean "dot plot" still indicates no changes in the benchmark rate until 2023. "As expected, the Fed made no changes to the Fed funds rate and the bond buying program. That was the easy part," says Anu Gaggar, senior global investment analyst for Commonwealth Financial Network. "Many on the Street were looking for a hawkish Fed, in so far as dots at least. With the 2023 median plot still hugging the floor, stocks and bonds are rising again," "This is like a Goldilocks market – strong economic growth, moderately higher inflation, rebounding earnings, and very easy monetary conditions." "The Fed gave the stock market what it wanted to hear," adds Ryan Detrick, chief market strategist for LPL Financial. "The economy is quickly improving, yet they don't plan on removing the punchbowl anytime soon and rates will likely stay low for the intermediate future." All of the major indices flipped from earlier-day losses to gains by the close. The Dow Jones Industrial Average eclipsed 33,000 for the first time, climbing 0.6% to a record 33,015 thanks to moves higher Dow ( DOW , +4.5%), Boeing ( BA , +3.3%) and Caterpillar ( CAT , +3.2%). Sign up for Kiplinger's FREE Investing Weekly e-letter for stock, ETF and mutual fund recommendations, and other investing advice. The S&P 500 also set a new high, up 0.3% to 3,974. And the Nasdaq Composite improved by 0.4% to 13,525. Story continues Other action in the stock market today: The Russell 2000 was tops among the major indices, gaining 0.7% to 2,336. U.S. crude oil futures declined for a fourth consecutive session, off 0.3% to $64.60 per barrel. Gold futures cheered the Fed's announcement, gaining 0.6% to $1,741.00. Bitcoin prices rebounded with the market, jumping 3.6% to $57,756. (Bitcoin trades 24 hours a day; prices reported here are as of 4 p.m. each trading day.) stock chart for 031721 SEE MORE The 21 Best Stocks to Buy for the Rest of 2021 Is "Infrastructure Week" Nigh? We mentioned yesterday that the market's biggest risk is shifting from COVID-19 to inflation. But what about its next driver? President Joe Biden's $1.9 trillion stimulus package is technically in the market's rear-view mirror, after all, even if stimulus checks are just starting to go out . There are certainly plays to be made in the economic recovery and the reflation trade , but many analysts are increasingly focused on the possibility of a long-awaited infrastructure bill. "Expect lawmakers to quickly turn to a recovery/infrastructure package with the goal of having a draft bill around late spring," Raymond James analysts wrote earlier this month. "President Biden held another bipartisan meeting with lawmakers ... and House Democrats introduced new climate legislation, portions of which (such as hundreds of billions of dollars for clean energy transitions and a national green bank) are likely to be key parts of Biden's infrastructure plan." Pay special attention to that last part. While an initiative targeting things such as America's aging roads and bridges would surely help traditional materials and industrial plays, your world of infrastructure plays to target might need to include green-energy and even telecommunications-focused plays. Read on as we explore 12 of the best infrastructure stocks to benefit from a bipartisan infrastructure plan from Washington, including conventional and outside-the-box selections alike. Kyle Woodley was long BA as of this writing. SEE MORE The 21 Best ETFs to Buy for a Prosperous 2021 You may also like Your Guide to Roth Conversions The 25 Cheapest U.S. Cities to Live In The Best Fidelity Funds for 401(k) Retirement Savers || Stock Market Today: Fed's Smooth Talking Sends Dow Above 33K: Federal Reserve Getty Images Federal Reserve Chair Jerome Powell and the rest of the U.S. central bank deftly walked the expectations tightrope in their post-FOMC meeting commentary Wednesday – at least, that's what the afternoon jump in stocks indicated. The Fed upgraded its expectations for 2021 GDP growth to 6.5%, from 4.2% back in December – while also lifting its projections for core inflation, which it now sees hitting 2.2% (up from its previous forecast of 1.8%). SEE MORE 11 Hot Upcoming IPOs to Watch For in the Rest of 2021 But the Fed's interest-rate policy remained unchanged, and while a few members signaled that interest-rate hikes might come sooner than they believed a few months ago, the mean "dot plot" still indicates no changes in the benchmark rate until 2023. "As expected, the Fed made no changes to the Fed funds rate and the bond buying program. That was the easy part," says Anu Gaggar, senior global investment analyst for Commonwealth Financial Network. "Many on the Street were looking for a hawkish Fed, in so far as dots at least. With the 2023 median plot still hugging the floor, stocks and bonds are rising again," "This is like a Goldilocks market – strong economic growth, moderately higher inflation, rebounding earnings, and very easy monetary conditions." "The Fed gave the stock market what it wanted to hear," adds Ryan Detrick, chief market strategist for LPL Financial. "The economy is quickly improving, yet they don't plan on removing the punchbowl anytime soon and rates will likely stay low for the intermediate future." All of the major indices flipped from earlier-day losses to gains by the close. The Dow Jones Industrial Average eclipsed 33,000 for the first time, climbing 0.6% to a record 33,015 thanks to moves higher Dow ( DOW , +4.5%), Boeing ( BA , +3.3%) and Caterpillar ( CAT , +3.2%). Sign up for Kiplinger's FREE Investing Weekly e-letter for stock, ETF and mutual fund recommendations, and other investing advice. The S&P 500 also set a new high, up 0.3% to 3,974. And the Nasdaq Composite improved by 0.4% to 13,525. Story continues Other action in the stock market today: The Russell 2000 was tops among the major indices, gaining 0.7% to 2,336. U.S. crude oil futures declined for a fourth consecutive session, off 0.3% to $64.60 per barrel. Gold futures cheered the Fed's announcement, gaining 0.6% to $1,741.00. Bitcoin prices rebounded with the market, jumping 3.6% to $57,756. (Bitcoin trades 24 hours a day; prices reported here are as of 4 p.m. each trading day.) stock chart for 031721 SEE MORE The 21 Best Stocks to Buy for the Rest of 2021 Is "Infrastructure Week" Nigh? We mentioned yesterday that the market's biggest risk is shifting from COVID-19 to inflation. But what about its next driver? President Joe Biden's $1.9 trillion stimulus package is technically in the market's rear-view mirror, after all, even if stimulus checks are just starting to go out . There are certainly plays to be made in the economic recovery and the reflation trade , but many analysts are increasingly focused on the possibility of a long-awaited infrastructure bill. "Expect lawmakers to quickly turn to a recovery/infrastructure package with the goal of having a draft bill around late spring," Raymond James analysts wrote earlier this month. "President Biden held another bipartisan meeting with lawmakers ... and House Democrats introduced new climate legislation, portions of which (such as hundreds of billions of dollars for clean energy transitions and a national green bank) are likely to be key parts of Biden's infrastructure plan." Pay special attention to that last part. While an initiative targeting things such as America's aging roads and bridges would surely help traditional materials and industrial plays, your world of infrastructure plays to target might need to include green-energy and even telecommunications-focused plays. Read on as we explore 12 of the best infrastructure stocks to benefit from a bipartisan infrastructure plan from Washington, including conventional and outside-the-box selections alike. Kyle Woodley was long BA as of this writing. SEE MORE The 21 Best ETFs to Buy for a Prosperous 2021 You may also like Your Guide to Roth Conversions The 25 Cheapest U.S. Cities to Live In The Best Fidelity Funds for 401(k) Retirement Savers || Why CrowdStrike Is A Top Growth Stock Pick: Crowdstrike Holdings Inc (NASDAQ: CRWD ) shares traded lower by 2% on Wednesday after the company reported a profitable fourth quarter and issued guidance above Wall Street expectations. On Tuesday, CrowdStrike reported fourth-quarter adjusted EPS of 13 cents on $264.9 million in revenue. Both numbers topped consensus analyst estimates of 8 cents and $250.4 million, respectively. Revenue was up 74% from a year ago. Related Link: Zoom Video Analysts Cautious Following Earnings Beat: 'Rich Multiple Given Implied Deceleration' In addition, CrowdStrike said it added 1,480 net new subscription business customers in the quarter, up from 1,186 additions in the third quarter. Crowdstrike also guided for fiscal 2022 revenue of between $1.31 billion and $1.32 billion, ahead of analyst forecasts of $1.22 billion. Secular Tailwinds: RBC Capital Markets analyst Matthew Hedberg said CrowdStrike remains one of his top growth stock picks. “Secular tailwinds continue to fuel the land-and-expand motion, which a broadening platform could accelerate,” Hedberg wrote. JPM Securities analyst Erik Suppiger said CrowdStike has a strong finish to the fiscal year as it aims to expand its total addressable market. View more earnings on CRWD “CrowdStrike is realizing significant operating leverage as the company’s record 13% operating margin for F4Q21 was up 490 bps from the prior quarter and more than 1,700 bps from the year-ago quarter,” Suppiger wrote. Impressive Subscriber Growth: Oppenheimer analyst Ittai Kidron said strong subscription revenue and customer growth were highlights of the quarter, and Humio could be an excellent growth opportunity. “We believe CrowdStrike is well-positioned competitively and technologically to benefit from multiple tailwinds (cloud security, digital transformation, DevOps),” Kidron wrote. Needham analyst Alex Henderson said CrowdStrike’s numbers exceeded expectations across the board. “Crowd also delivered strong new products and platform integration including major expansion into Cloud Workload protection and now with the additions of Humio and Preempt, Crowd has expanded its capabilities to include integrated Identity protection and improved data ingestion, visibility, and R/T analysis allowing a unified data layer,” Henderson wrote. Story continues Ratings And Price Targets: RBC has an Outperform rating and a $250 target. JPM has an Outperform rating and a $295 target. Oppenheimer has an Outperform rating and a $225 target. Needham has a Buy rating and a $275 target. Related Link: Need trading ideas? Tune into Benzinga on YouTube . Photo by Anthony Riera on Unsplash Latest Ratings for CRWD Mar 2021 Baird Maintains Outperform Mar 2021 DA Davidson Maintains Buy Mar 2021 RBC Capital Maintains Outperform View More Analyst Ratings for CRWD View the Latest Analyst Ratings See more from Benzinga Click here for options trades from Benzinga Fed Maintains Interest Rates, Says Inflation Still 'Below 2%': What Investors Need To Know BofA Slams Bitcoin: 'Impractical As A Store Of Wealth Or Payments Mechanism' © 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Why CrowdStrike Is A Top Growth Stock Pick: Crowdstrike Holdings Inc(NASDAQ:CRWD) shares traded lower by 2% on Wednesday after the company reported a profitable fourth quarter and issued guidance above Wall Street expectations.
On Tuesday, CrowdStrike reported fourth-quarter adjusted EPS of 13 cents on $264.9 million in revenue. Both numbers topped consensus analyst estimates of 8 cents and $250.4 million, respectively. Revenue was up 74% from a year ago.
Related Link:Zoom Video Analysts Cautious Following Earnings Beat: 'Rich Multiple Given Implied Deceleration'
In addition, CrowdStrike said it added 1,480 net new subscription business customers in the quarter, up from 1,186 additions in the third quarter.
Crowdstrike also guided for fiscal 2022 revenue of between $1.31 billion and $1.32 billion, ahead of analyst forecasts of $1.22 billion.
Secular Tailwinds:RBC Capital Markets analyst Matthew Hedberg said CrowdStrike remains one of his top growth stock picks.
“Secular tailwinds continue to fuel the land-and-expand motion, which a broadening platform could accelerate,” Hedberg wrote.
JPM Securities analyst Erik Suppiger said CrowdStike has a strong finish to the fiscal year as it aims to expand its total addressable market.
View more earnings on CRWD
“CrowdStrike is realizing significant operating leverage as the company’s record 13% operating margin for F4Q21 was up 490 bps from the prior quarter and more than 1,700 bps from the year-ago quarter,” Suppiger wrote.
Impressive Subscriber Growth:Oppenheimer analyst Ittai Kidron said strong subscription revenue and customer growth were highlights of the quarter, and Humio could be an excellent growth opportunity.
“We believe CrowdStrike is well-positioned competitively and technologically to benefit from multiple tailwinds (cloud security, digital transformation, DevOps),” Kidron wrote.
Needham analyst Alex Henderson said CrowdStrike’s numbers exceeded expectations across the board.
“Crowd also delivered strong new products and platform integration including major expansion into Cloud Workload protection and now with the additions of Humio and Preempt, Crowd has expanded its capabilities to include integrated Identity protection and improved data ingestion, visibility, and R/T analysis allowing a unified data layer,” Henderson wrote.
Ratings And Price Targets:RBC has an Outperform rating and a $250 target.JPM has an Outperform rating and a $295 target.Oppenheimer has an Outperform rating and a $225 target.Needham has a Buy rating and a $275 target.
Related Link: Need trading ideas? Tune intoBenzinga on YouTube.
Photo byAnthony RieraonUnsplash
Latest Ratings for CRWD
[{"Mar 2021": "Mar 2021", "Baird": "DA Davidson", "Maintains": "Maintains", "": "", "Outperform": "Buy"}, {"Mar 2021": "Mar 2021", "Baird": "RBC Capital", "Maintains": "Maintains", "": "", "Outperform": "Outperform"}]
View More Analyst Ratings for CRWDView the Latest Analyst Ratings
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© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || The Fed thinks a post-pandemic inflation bump might just be temporary: Economist: Powerfulgovernment fiscal stimulushas ignited concerns about coming inflation, reflected in a bump in 10-year Treasury yields recently. And it’s not just on Wall Street’s mind –Google searches about inflation have spikedof late.
The pandemic shutdowns have led to a higher savings rate than normal, and pent-up demand for goods and services mayresult in a boom upon reopening. At the same time, supply chains are still stressed, a fact that might put upward pressure on pricing, which would make that inflation real.
On Wednesday, theFederal Reserve left interest ratesat near zero and its quantitative easing program unchanged, giving a new perspective on how the central bank views these inflationary concerns. (Inflation control is one of two mandates the Fed has, along with controlling the unemployment rate.)
Examining the tea leaves of the Fed’s releases, Pantheon’s Ian Shepherdson noted the Fed is being dovish in response to the inflation concerns — in fact seeing them potentially as a temporary part of the reopening.
“The key point here is that the Fed is not buying into the idea that an initial increase in inflation as the economy reopens could become embedded in 2022 and 2023 via increased expectations and upward pressure on wage growth,” Shepherdson wrote in a note just after the release Wednesday. “Chair Powell is likely, therefore, to repeat his view that rising inflation will be ‘transient.’”
The Fed board members’ median expectation is for inflation to increase to2.4%in 2021, and drop to 2.0% in 2022 and hit 2.1% in 2023.
This transience, Shepherdson points out, would mean that the Fed would see less of a reason to raise rates to rein in inflation any time soon.
Powell’s approach is essentially operating on a “we’ll deal with the future in the future,” rather than now.
That’s because Powell sees a strong difference between making actual progress and having progress merely forecasted.
Even if the market has expectations that this dovishness might start to taper at the end of the year, based on forecasts, Powell won’t want to talk about that until things are in better shape and any inflation is deemed to be not transient.
“But that’s still some way off,” Shepherdson writes, “and Chair Powell will push back, again, on the idea that the Fed needs to start talking about tapering now.”
The Fed, Shepherdson added, “does not want to jump the gun until the recovery is assured and the impact on inflation can be assessed.”
Based on the Fed’s outlook at the present, Pantheon expects a hike by late 2022 — and probably no mention of it until the fall.
—
Ethan Wolff-Mannis a writer at Yahoo Finance focusing on consumer issues, personal finance, retail, airlines, and more. Follow him on Twitter@ewolffmann.
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58346.65, 58313.64, 57523.42, 54529.14, 54738.95, 52774.27, 51704.16, 55137.31, 55973.51, 55950.75
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Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 42909.40, 37002.44, 40782.74, 37304.69, 37536.63, 34770.58, 38705.98, 38402.22, 39294.20, 38436.97, 35697.61, 34616.07, 35678.13, 37332.86, 36684.93, 37575.18, 39208.77, 36894.41, 35551.96, 35862.38, 33560.71, 33472.63, 37345.12, 36702.60, 37334.40, 35552.52, 39097.86, 40218.48, 40406.27, 38347.06, 38053.50, 35787.25, 35615.87, 35698.30, 31676.69, 32505.66, 33723.03, 34662.44, 31637.78, 32186.28, 34649.64, 34434.34, 35867.78, 35040.84, 33572.12, 33897.05, 34668.55, 35287.78, 33746.00, 34235.20, 33855.33, 32877.37, 33798.01, 33520.52, 34240.19, 33155.85, 32702.03, 32822.35, 31780.73, 31421.54, 31533.07, 31796.81, 30817.83, 29807.35, 32110.69, 32313.11, 33581.55, 34292.45, 35350.19, 37337.54, 39406.94, 39995.91, 40008.42, 42235.55, 41626.20, 39974.89, 39201.95, 38152.98, 39747.50, 40869.55, 42816.50, 44555.80, 43798.12, 46365.40, 45585.03, 45593.64, 44428.29, 47793.32, 47096.95, 47047.00.
|
[Bitcoin Technical Analysis for 2021-08-15]
Volume: 30988958446, RSI (14-day): 67.92, 50-day EMA: 39742.87, 200-day EMA: 39328.11
[Wider Market Context]
None available.
[Recent News (last 7 days)]
Mark Cuban’s Top Investing Advice: Kathy Hutchins / Shutterstock.com Often controversial and always entertaining, self-made billionaire Mark Cuban is not shy in his opinions, especially when it comes to money — and that’s good news for budding investors . Mark Cuban, after all, is rich and famous. He owns a jet and a basketball team. He’s a reality TV star who millions tune in to watch on “Shark Tank.” If you don’t listen to a guy who created one of the world’s greatest fortunes out of nothing, who do you listen to? Read: ‘Shark Tank’ Stars Share 50 Business Tips Check Out: 11 Ways Warren Buffett Lives Frugally It wasn’t always that way. Cuban famously lived for years on the budget of a broke college student, driving lousy cars, eating lousy food and saving, saving, saving. A serial entrepreneur, forward-thinking investor and notorious taker of calculated risks, Cuban’s seed money is now fueling startups all over the country in all kinds of industries. The following is a selection of the finest Mark Cubanisms — from years past to just this year — that can inspire, educate and entertain investors of all levels . Last updated: July 30, 2021 vitapix / Getty Images Pay Off Debt, Then Invest In a 2018 interview with MarketWatch, Cuban laid down some indisputable arithmetic that explains why paying off debt before you invest might just deliver the biggest returns of all. “The best investment you can make is paying off your credit cards, paying off whatever debt you have. If you have a student loan with a 7% interest rate, if you pay off that loan, you’re making 7%, that’s your immediate return, which is a lot safer than picking a stock, or trying to pick real estate, or whatever it may be,” Cuban said. See: Just How Rich Are Elon Musk, Donald Trump and Other Big Names? simpson33 / Getty Images/iStockphoto Never Invest To Get Out of Trouble Just like you should never gamble if you absolutely have to win, Cuban insists that the same rules apply to investing as a remedy for financial trouble. “If you are buying because you need the price to go up and solve a financial hole you are in, that is the EXACT WRONG time to trade,” Cuban tweeted on Feb. 3. “And we all have to respect people who choose to sell because they need to. Bills don't care what the market does [sic]. Get right and come back later.” Story continues Find Out: These Billionaires Got Richer During The Pandemic katjen / Shutterstock.com Don’t Invest In the Stock Market Cuban had some harsh words for what most investors think of as capitalism’s greatest wealth-generation machine — the stock market. In 2007, he used his blog to offer some advice to young people who aren’t sure what to do with their money. He wrote: “Put it in the bank. The idiots that tell you to put your money in the market because eventually it will go up need to tell you that because they are trying to sell you something. The stock market is probably the worst investment vehicle out there. If you won’t put your money in the bank, NEVER put your money in something where you don’t have an information advantage. Why invest your money in something because a broker told you to? If the broker had a clue, he/she wouldn’t be a broker, they would be on a beach somewhere.” More: 16 Money Rules That Millionaires Swear By champja / iStock.com But If You Do, Buy an Index Fund Not everyone is going to build a successful software startup from scratch, and they don’t necessarily want to be called “idiots” for investing in the stock market. Fine, but Cuban at least wants them to avoid picking their own stocks or buying into expensive mutual funds. His advice mirrors that which fellow billionaire investor Warren Buffett has long offered, as well — buy an index fund. In an interview with Hayman Capital Management founder Kyle Bass, Cuban said, “for those investors not too knowledgeable about markets, the best bet is a cheap S&P 500 fund,” according to MarketWatch. Read: 21 Life Hacks From Warren Buffett That Anyone Can Use aldomurillo / Getty Images Embrace Poverty (‘Live Like a Student’) Cuban told Time’s Money magazine how much he was influenced by a book called “Cashing in on the American Dream: How to Retire by the Age of 35.” “The whole premise of the book was if you could save up to $1 million and live like a student, you could retire. But you would have to have the discipline of saving and how you spent your money once you got there. I did things like have five roommates and live off of macaroni and cheese and really was very, very frugal. I had the worst possible car.” See: Stocks That Would Have Made You Rich Today eclipse_images / Getty Images Buy a Stock You Believe In and Hold on for Dear Life When the Reddit and GameStop trading frenzy went down, Cuban was able to offer some insightful advice as most of the investing world was struggling just to understand what was even going on. On a Reddit AMA (Ask Me Anything), Cuban responded to a Redditor’s call for advice with this comparison to Bitcoin.“Many bought at the highs in 2017 and watched it fall by ⅔ or more. But they held on because they believe in the asset ... When I buy a stock, I make sure I know why I['m] buying it. Then I HODL until … I learn that something has changed," using text-slang acronym for “hold on for dear life.” Find Out: How Does Cryptocurrency Work – and Is It Safe? SARINYAPINNGAM / Getty Images/iStockphoto Take Risks — But Play It Safe 90% of the Time Without risk, there can be no reward, and the bigger the risk, the bigger the potential payout. Cuban wants investors to go for broke and swing for the fences — but only with a sliver of their investments. “If you're a true adventurer and you really want to throw the hail Mary, you might take 10% and put it in Bitcoin or Ethereum, but if you do that, you've got to pretend you've already lost your money. It's like collecting art, it's like collecting baseball cards, it's like collecting shoes. It's a flyer, but I'd limit it to 10%," Cuban told Vanity Fair. More: 13 Toxic Investments You Should Avoid jpgfactory / Getty Images If One of Those Risks Is Crypto, Stick With the Big Boys If you’re considering jumping on the cryptocurrency bandwagon, you’d be wise to place your bets on the biggest names in the game because Cuban sees way too many similarities to 1999 for comfort. On Jan. 11, he tweeted: “Watching the cryptos trade, it’s EXACTLY like the internet stock bubble. EXACTLY. I think btc, eth, a few others will be analogous to those that were built during the dot-com era, survived the bubble bursting and thrived, like AMZN, EBay, and Priceline. Many won’t.” Read: India Proposes Ban on Bitcoin — and the US Could Be Next Daniel Zuchnik / WireImage If You Don’t Understand an Investment, Walk Away Cuban has crossed philosophical paths with Warren Buffett more than once when it comes to investing fundamentals. Like Buffett, Cuban warns against investing in things you don’t understand. In 2010, Cuban wrote on his blog, “If you don’t fully understand the risks of an investment you are contemplating, it’s okay to do nothing.” More recently, he confirmed that position by stating even more emphatically, “No. 1 rule of investing: When you don’t know what to do, do nothing.” See: 21 Billionaires Who Lost Big in 2020 fizkes / Getty Images/iStockphoto Knowledge Is the Best Investment The best way to avoid investing in something you don’t understand is to understand whatever you’re invested in. Cuban wrote on his blog about the power of what he calls the “knowledge advantage” and what he gained from it in his early years as a budding entrepreneur. In 2007, he wrote: “At MicroSolutions it gave me a huge advantage. A guy with little computer background could compete with far more experienced guys just because I put in the time to learn all I could. I read every book and magazine I could. Heck, three bucks for a magazine, 20 bucks for a book. One good idea that led to a customer or solution paid for itself many times over.” More From GOBankingRates What Money Topics Do You Want Covered: Ask the Financially Savvy Female 15 Smart Savings Tips You Can Start Today Nominate Your Favorite Small Business To Be Featured on GOBankingRates Monifi Review: Jumpstart Your Financial Progress With This Goal-Based Banking App’s $250 Bonus This article originally appeared on GOBankingRates.com : Mark Cuban’s Top Investing Advice || Mark Cuban’s Top Investing Advice: Often controversial and always entertaining, self-made billionaire Mark Cuban is not shy in his opinions, especially when it comes to money — and that’sgood news for budding investors. Mark Cuban, after all, is rich and famous. He owns a jet and a basketball team. He’s a reality TV star who millions tune in to watch on “Shark Tank.” If you don’t listen to a guy who created one of the world’s greatest fortunes out of nothing, who do you listen to?
Read:‘Shark Tank’ Stars Share 50 Business TipsCheck Out:11 Ways Warren Buffett Lives Frugally
It wasn’t always that way. Cuban famously lived for years on the budget of a broke college student, driving lousy cars, eating lousy food and saving, saving, saving. A serial entrepreneur, forward-thinking investor and notorious taker of calculated risks, Cuban’s seed money is now fueling startups all over the country in all kinds of industries.
The following is a selection of the finest Mark Cubanisms — from years past to just this year —that can inspire, educate and entertain investors of all levels.
Last updated: July 30, 2021
In a 2018 interview with MarketWatch, Cuban laid down some indisputable arithmetic that explains why paying off debt before you invest might just deliver the biggest returns of all.
“The best investment you can make is paying off your credit cards, paying off whatever debt you have. If you have a student loan with a 7% interest rate, if you pay off that loan, you’re making 7%, that’s your immediate return, which is a lot safer than picking a stock, or trying to pick real estate, or whatever it may be,” Cuban said.
See:Just How Rich Are Elon Musk, Donald Trump and Other Big Names?
Just like you should never gamble if you absolutely have to win, Cuban insists that the same rules apply to investing as a remedy for financial trouble.
“If you are buying because you need the price to go up and solve a financial hole you are in, that is the EXACT WRONG time to trade,” Cuban tweeted on Feb. 3. “And we all have to respect people who choose to sell because they need to. Bills don't care what the market does [sic]. Get right and come back later.”
Find Out:These Billionaires Got Richer During The Pandemic
Cuban had some harsh words for what most investors think of as capitalism’s greatest wealth-generation machine — the stock market. In 2007, he used his blog to offer some advice to young people who aren’t sure what to do with their money.
He wrote: “Put it in the bank. The idiots that tell you to put your money in the market because eventually it will go up need to tell you that because they are trying to sell you something. The stock market is probably the worst investment vehicle out there. If you won’t put your money in the bank, NEVER put your money in something where you don’t have an information advantage. Why invest your money in something because a broker told you to? If the broker had a clue, he/she wouldn’t be a broker, they would be on a beach somewhere.”
More:16 Money Rules That Millionaires Swear By
Not everyone is going to build a successful software startup from scratch, and they don’t necessarily want to be called “idiots” for investing in the stock market. Fine, but Cuban at least wants them to avoid picking their own stocks or buying into expensive mutual funds. His advice mirrors that which fellow billionaire investor Warren Buffett has long offered, as well — buy an index fund.
In an interview with Hayman Capital Management founder Kyle Bass, Cuban said, “for those investors not too knowledgeable about markets, the best bet is a cheap S&P 500 fund,” according to MarketWatch.
Read:21 Life Hacks From Warren Buffett That Anyone Can Use
Cuban told Time’s Money magazine how much he was influenced by a book called “Cashing in on the American Dream: How to Retire by the Age of 35.”
“The whole premise of the book was if you could save up to $1 million and live like a student, you could retire. But you would have to have the discipline of saving and how you spent your money once you got there. I did things like have five roommates and live off of macaroni and cheese and really was very, very frugal. I had the worst possible car.”
See:Stocks That Would Have Made You Rich Today
When the Reddit and GameStop trading frenzy went down, Cuban was able to offer some insightful advice as most of the investing world was struggling just to understand what was even going on.
On a Reddit AMA (Ask Me Anything), Cuban responded to a Redditor’s call for advice with this comparison to Bitcoin.“Many bought at the highs in 2017 and watched it fall by ⅔ or more. But they held on because they believe in the asset ... When I buy a stock, I make sure I know why I['m] buying it. Then I HODL until … I learn that something has changed," using text-slang acronym for “hold on for dear life.”
Find Out:How Does Cryptocurrency Work – and Is It Safe?
Without risk, there can be no reward, and the bigger the risk, the bigger the potential payout. Cuban wants investors to go for broke and swing for the fences — but only with a sliver of their investments.
“If you're a true adventurer and you really want to throw the hail Mary, you might take 10% and put it in Bitcoin or Ethereum, but if you do that, you've got to pretend you've already lost your money. It's like collecting art, it's like collecting baseball cards, it's like collecting shoes. It's a flyer, but I'd limit it to 10%," Cuban told Vanity Fair.
More:13 Toxic Investments You Should Avoid
If you’re considering jumping on the cryptocurrency bandwagon, you’d be wise to place your bets on the biggest names in the game because Cuban sees way too many similarities to 1999 for comfort.
On Jan. 11, he tweeted: “Watching the cryptos trade, it’s EXACTLY like the internet stock bubble. EXACTLY. I think btc, eth, a few others will be analogous to those that were built during the dot-com era, survived the bubble bursting and thrived, like AMZN, EBay, and Priceline. Many won’t.”
Read:India Proposes Ban on Bitcoin — and the US Could Be Next
Cuban has crossed philosophical paths with Warren Buffett more than once when it comes to investing fundamentals. Like Buffett, Cuban warns against investing in things you don’t understand.
In 2010, Cuban wrote on his blog, “If you don’t fully understand the risks of an investment you are contemplating, it’s okay to do nothing.” More recently, he confirmed that position by stating even more emphatically, “No. 1 rule of investing: When you don’t know what to do, do nothing.”
See:21 Billionaires Who Lost Big in 2020
The best way to avoid investing in something you don’t understand is to understand whatever you’re invested in. Cuban wrote on his blog about the power of what he calls the “knowledge advantage” and what he gained from it in his early years as a budding entrepreneur.
In 2007, he wrote: “At MicroSolutions it gave me a huge advantage. A guy with little computer background could compete with far more experienced guys just because I put in the time to learn all I could. I read every book and magazine I could. Heck, three bucks for a magazine, 20 bucks for a book. One good idea that led to a customer or solution paid for itself many times over.”
More From GOBankingRates
• What Money Topics Do You Want Covered: Ask the Financially Savvy Female
• 15 Smart Savings Tips You Can Start Today
• Nominate Your Favorite Small Business To Be Featured on GOBankingRates
• Monifi Review: Jumpstart Your Financial Progress With This Goal-Based Banking App’s $250 Bonus
This article originally appeared onGOBankingRates.com:Mark Cuban’s Top Investing Advice || Here Is What Richard Branson Did To Raise Money For His Pandemic-Battered Global Business: According toWSJ’sreport, SirRichard Bransonhas sold around $300 million worth of shares inVirgin Galactic Holdings Inc(NYSE:SPCE) to raise funds for other parts of his pandemic-hit global business.
• Virgin Groupsold 10,416,000 shares on Thursday, reducing the stake to 18%.
• Branson’s business in airlines, cruise ships, hotels, and gyms has been badly hit by the pandemic-related economic slowdown.
• Virgin Group currently owns 51% of the airline, with the US-based Delta Air Lines owning the rest.
• In April, the airline reported a pretax loss after passenger numbers dropped by 80%.
• Virgin Atlantic is exploring a possible listing on the London stock market to raise money for its airline business.
• The company survived the pandemic with a rescue of $2.08 billion between September 2020 and March 2021. However,Virgin Galactic Holdingsand satellite-launch companyVirgin Orbitare performing well.
• Last month Branson successfully flew into space as a passenger on the Unity 22. The flightwasthe fourth crewed trip by the company and another step in taking its 600 future astronauts to space. Each will pay $200,000 to $250,000 for a seat on the spacecraft.
• In May, Virgin Group sold out shares in Virgin Galactic to raise money for the wider business. According to the company, Virgin Group continues to be the largest single shareholder in Virgin Galactic.
• The pandemic resulted in a loss for the company of 659 million pounds for 2020.
Photo: Virgin Galactic visits the New York Stock Exchange to celebrate its listing. Richard Branson rings The First Trade Bell.
See more from Benzinga
• Click here for options trades from Benzinga
• Ford Counterattacks GM In Trademark Infringement Dispute, Says Will Go To Patent Office
• Bitcoin's Realized Market Cap Hits 8B, Total Market Cap at 0B
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Here Is What Richard Branson Did To Raise Money For His Pandemic-Battered Global Business: According to WSJ’s report, Sir Richard Branson has sold around $300 million worth of shares in Virgin Galactic Holdings Inc (NYSE: SPCE ) to raise funds for other parts of his pandemic-hit global business. Virgin Group sold 10,416,000 shares on Thursday, reducing the stake to 18%. Branson’s business in airlines, cruise ships, hotels, and gyms has been badly hit by the pandemic-related economic slowdown. Virgin Group currently owns 51% of the airline, with the US-based Delta Air Lines owning the rest. In April, the airline reported a pretax loss after passenger numbers dropped by 80%. Virgin Atlantic is exploring a possible listing on the London stock market to raise money for its airline business. The company survived the pandemic with a rescue of $2.08 billion between September 2020 and March 2021. However, Virgin Galactic Holdings and satellite-launch company Virgin Orbit are performing well. Last month Branson successfully flew into space as a passenger on the Unity 22. The flight was the fourth crewed trip by the company and another step in taking its 600 future astronauts to space. Each will pay $200,000 to $250,000 for a seat on the spacecraft. In May, Virgin Group sold out shares in Virgin Galactic to raise money for the wider business. According to the company, Virgin Group continues to be the largest single shareholder in Virgin Galactic. The pandemic resulted in a loss for the company of 659 million pounds for 2020. Photo: Virgin Galactic visits the New York Stock Exchange to celebrate its listing. Richard Branson rings The First Trade Bell. See more from Benzinga Click here for options trades from Benzinga Ford Counterattacks GM In Trademark Infringement Dispute, Says Will Go To Patent Office Bitcoin's Realized Market Cap Hits 8B, Total Market Cap at 0B © 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. View comments || Baby Doge Ethereum Has A Massive Expansion Plan Ahead: Company CEO: Sydney, Australia--(Newsfile Corp. - August 14, 2021) - BabyDoge Ethereum, the latest crypto coin in the market, has a massive expansion plan in the next few months. Informing about the same, the company CEO issued a statement indicating its possible expansion plan within the next few months.
To view an enhanced version of this graphic, please visit:https://orders.newsfilecorp.com/files/8199/93101_6788b5cbb4e8eb00_001full.jpg
"Doge Eth wants to disseminate the concept of cryptocurrencies among the masses so that everyone can start investing in cryptocoins," the Company CEO said.
Babydoge Ethereumis available in a fully decentralized defi ecosystem. The community is dedicating a lot of time to spread the word. In order to popularise BabyDoge, the community has also announced more rewards for investors who invest in the cryptocoins.
There are multiple benefits of the decentralized ecosystem through which anyone can easily invest their hard-earned money in BabyDoge Ethereum. It offers more personalized and customized services apart from giving users more decision-making power and capabilities. A decentralized ecosystem aims at full autonomy where investors can easily buy, sell and transact using Baby Doge Etherium without any technical flaws or legal issues.
Benefits of BabyDoge Ethereum At A Glance
• Transact in a decentralized platform.
• Investors have more choices while opting for service providers.
• Investors need not accept all terms and conditions of the platform.
• Users can obtain local copies of their data and other essential information.
• Invest in BabyDoge Eth. using end-to-end encryption.
• User's content can't be accessed or deleted by anyone.
Why Is Baby Doge In The News?
While the currency is relatively new in the market, it has already received massive publicity and popularity. It was launched a month back but has been seeing a constant surge in its value in the last few days
Baby Doge Ethereum debuted into the crypto markets just a few days back, but owing to its endearing Shiba Inu dog logo, the coin has now got a fanbase of its own. The platform also enables an integrated smart staking system that helps people add more cryptocoins to their wallets after every successful transaction.
At present, Baby Doge Ethereum has a market capitalization of $0.3 billion (estimated) worldwide. The figure is likely to go up in the coming days as more and more people join the community.
Investing in BabyDoge Ethereum: Key Points
Thorough Analysis:Before investing in BabyDog Ethereum or any other cryptocoins, you must inspect all price charts, market trends, and value fluctuation. Since it's a new player in the market, you can expect some short-term volatility in the crypto market.
Right Platform:Once you decide to invest in BabyDoge Ethereum, you've to choose the right platform for investing. Right now, you can easily create your profile and integrate your crypto wallet into PancakeSwap to start investing and trading.
Exchange Rules:Using the right platform like PancakeSwap can save you time, effort, and money. Being a decentralized cryptocurrency exchange, investors can easily contribute their tokens for transactions. You should integrate your wallet into PancakeSwap and start trading online.
Balanced Investment:If you are a cautious investor, don't invest too much too fast. Initially, you should invest a small amount in Baby Doge and gradually increase your investment limit. Baby Doge is new but enjoys good credibility in the market. It would be a prudent idea to invest in it.
The Future Ahead
Baby Dogecoin Ethereumhas just entered the market. But going by the trend, it shows a promising future ahead. It was launched with the initial price offering of $0.000000000175 spread over its total supply of 420 quadrillion tokens. Right now, Baby Doge Ethereum is trading at $0.000000002599 following an upward trend with continuous growth in investors' confidence and faith in it.
A few days back, the coin saw a whopping 130%+ rise in its trading volume in a single day. Baby Doge is ready to compete heavily against other prominent crypto coins in the market, including Bitcoin, Ethereum, and others.
Media Details -
Eric CartsmanEmail -support@babydogecoin.ggcity - Sydneycountry - AustraliaWebsite -https://babydogecoin.gg/
To view the source version of this press release, please visithttps://www.newsfilecorp.com/release/93101 || Baby Doge Ethereum Has A Massive Expansion Plan Ahead: Company CEO: Sydney, Australia--(Newsfile Corp. - August 14, 2021) - BabyDoge Ethereum, the latest crypto coin in the market, has a massive expansion plan in the next few months. Informing about the same, the company CEO issued a statement indicating its possible expansion plan within the next few months. To view an enhanced version of this graphic, please visit: https://orders.newsfilecorp.com/files/8199/93101_6788b5cbb4e8eb00_001full.jpg "Doge Eth wants to disseminate the concept of cryptocurrencies among the masses so that everyone can start investing in cryptocoins," the Company CEO said. Babydoge Ethereum is available in a fully decentralized defi ecosystem. The community is dedicating a lot of time to spread the word. In order to popularise BabyDoge, the community has also announced more rewards for investors who invest in the cryptocoins. There are multiple benefits of the decentralized ecosystem through which anyone can easily invest their hard-earned money in BabyDoge Ethereum. It offers more personalized and customized services apart from giving users more decision-making power and capabilities. A decentralized ecosystem aims at full autonomy where investors can easily buy, sell and transact using Baby Doge Etherium without any technical flaws or legal issues. Benefits of BabyDoge Ethereum At A Glance Transact in a decentralized platform. Investors have more choices while opting for service providers. Investors need not accept all terms and conditions of the platform. Users can obtain local copies of their data and other essential information. Invest in BabyDoge Eth. using end-to-end encryption. User's content can't be accessed or deleted by anyone. Why Is Baby Doge In The News? While the currency is relatively new in the market, it has already received massive publicity and popularity. It was launched a month back but has been seeing a constant surge in its value in the last few days Baby Doge Ethereum debuted into the crypto markets just a few days back, but owing to its endearing Shiba Inu dog logo, the coin has now got a fanbase of its own. The platform also enables an integrated smart staking system that helps people add more cryptocoins to their wallets after every successful transaction. Story continues At present, Baby Doge Ethereum has a market capitalization of $0.3 billion (estimated) worldwide. The figure is likely to go up in the coming days as more and more people join the community. Investing in BabyDoge Ethereum: Key Points Thorough Analysis: Before investing in BabyDog Ethereum or any other cryptocoins, you must inspect all price charts, market trends, and value fluctuation. Since it's a new player in the market, you can expect some short-term volatility in the crypto market. Right Platform: Once you decide to invest in BabyDoge Ethereum, you've to choose the right platform for investing. Right now, you can easily create your profile and integrate your crypto wallet into PancakeSwap to start investing and trading. Exchange Rules: Using the right platform like PancakeSwap can save you time, effort, and money. Being a decentralized cryptocurrency exchange, investors can easily contribute their tokens for transactions. You should integrate your wallet into PancakeSwap and start trading online. Balanced Investment: If you are a cautious investor, don't invest too much too fast. Initially, you should invest a small amount in Baby Doge and gradually increase your investment limit. Baby Doge is new but enjoys good credibility in the market. It would be a prudent idea to invest in it. The Future Ahead Baby Dogecoin Ethereum has just entered the market. But going by the trend, it shows a promising future ahead. It was launched with the initial price offering of $0.000000000175 spread over its total supply of 420 quadrillion tokens. Right now, Baby Doge Ethereum is trading at $0.000000002599 following an upward trend with continuous growth in investors' confidence and faith in it. A few days back, the coin saw a whopping 130%+ rise in its trading volume in a single day. Baby Doge is ready to compete heavily against other prominent crypto coins in the market, including Bitcoin, Ethereum, and others. Media Details - Eric Cartsman Email - support@babydogecoin.gg city - Sydney country - Australia Website - https://babydogecoin.gg/ To view the source version of this press release, please visit https://www.newsfilecorp.com/release/93101 || This Week in Apps: Google, TikTok add protections for minors, app store bill proposes big changes, what's new with Samsung: Welcome back to This Week in Apps, the weekly TechCrunch series that recaps the latest in mobile OS news, mobile applications and the overall app economy. The app industry continues to grow, with a record 218 billion downloads and $143 billion in global consumer spend in 2020. Consumers last year also spent 3.5 trillion minutes using apps on Android devices alone. And in the U.S., app usage surged ahead of the time spent watching live TV. Currently, the average American watches 3.7 hours of live TV per day, but now spends four hours per day on their mobile devices. Apps aren’t just a way to pass idle hours — they’re also a big business. In 2019, mobile-first companies had a combined $544 billion valuation, 6.5x higher than those without a mobile focus. In 2020, investors poured $73 billion in capital into mobile companies — a figure that’s up 27% year-over-year. This Week in Apps offers a way to keep up with this fast-moving industry in one place with the latest from the world of apps, including news, updates, startup fundings, mergers and acquisitions, and suggestions about new apps and games to try, too. Do you want This Week in Apps in your inbox every Saturday? Sign up here: techcrunch.com/newsletters Top Stories A new Senate bill could put an end to app stores' dominance Apple app store iOS Image Credits: TechCrunch A bipartisan group of three U.S. senators -- Richard Blumenthal (D-CT), Amy Klobuchar (D-MN) and Marsha Blackburn (R-TN) -- introduced a new piece of legislation called the Open Markets Act , could change the way mobile software is distributed. The bill would give developers the right to tell their customers about lower prices outside the app stores (without fear of punishment), and permit alternative payment mechanisms, sideloading and third-party app stores where developers could avoid platform fees. It would also bar platform makers like Apple and Google from using non-public information they collect via app stores to build out competing products, or rank those products more favorably. Story continues The bill is being applauded by Apple critics, including the Coalition for App Fairness and its members, Epic Games, Spotify, Tile and others, who are now urging Congress to swiftly pass the legislation to level the playing field. As regulatory pressure on platform makers has intensified, the companies looked for ways to better cater to smaller developers with drops in commission rates, as well as increased privacy and security measures -- the latter which could help boost their arguments that the app store model is favorable to consumer interests. Such a bill is a notable first step toward some sort of market changes, but it's still too early to know if or when the bill will gain traction, much less be passed into law. A new Senate bill would totally upend Apple and Google’s app store dominance Tech giants Google, YouTube and TikTok follow Instagram with increased protections for minors Google and YouTube (as well as TikTok ) this week rolled out a series of changes to their products and services to increase the privacy and security of accounts belonging to teenaged users under the age of 18. The specific changes vary a bit from service to service, but are largely focused on making younger people's accounts more private by default, ensuring they're making an intentional choice when shifting accounts or content to become public, and limiting to what extent advertisers can target them. TikTok went a bit further to restrict push notifications after "bedtime" hours for its teen users, while YouTube chose to turn on its "take a break" and "bedtime" reminders by default instead. Image Credits: TikTok The changes follow similar moves announced just weeks ago by Instagram , and follow increased pressure from the U.S. Congress to do more to protect younger users from the harmful impacts of using technology. One piece of legislation, which tech companies may be trying to get ahead of, is an update to COPPA that would expand some protections to children under the age of 18, instead of just under 13. What's missing from all these initiatives, however, is any plan to more strictly verify children's ages on an app. Since many kids already know to lie about their birth year at sign-up, it's unclear how effective these measures will be in the long term. TikTok to add more privacy protections for teenaged users, limit push notifications Samsung Unpacked Wrap-Up Image Credits: Brian Heater Samsung this week hosted its Unpacked event , where it debuted the company's latest mobile products. This time, the smartphone maker showed off a new crop of foldables, including the Galaxy Z Fold 3 and Galaxy Z Flip 3 (clamshell, woo!), which will give app makers even more device styles and formats to consider when designing their apps. Well, if these foldables ever gain market traction that is, instead of existing in consumers' minds as a gimmick. (For what it's worth, Microsoft hopped on the bandwagon.) Samsung also introduced a new smartwatch powered by Google's WearOS (if you can't beat 'em...), the Galaxy Watch 4, and entry-level wireless earbuds, the Galaxy Buds 2. Weekly News Platforms: Apple Apple released the fifth betas of iOS 15 and iPadOS 15 to developers, which offer some more minor tweaks and stability improvements as the platforms head toward a fall release. New additions include an updated weather icon, shading around the tab interface in Safari on iPad, an option to use larger icons on iPad, a new warning pop-up that reminds you the iPhone is still findable when off, new splash screens for Apple's apps, the integration of TestFlight info in the App Store and more . Apple released a new developer tool that allows app makers to test how their app behaves when the device is connected to 5G instead of Wi-Fi. The tool is necessary because iOS 15/iPadOS 15 devices can automatically prioritize 5G over Wi-Fi when the latter's performance is slow. Apple settled a 2019 lawsuit with Corellium , a company that builds virtual iOS devices used by security researchers. Apple had said Corellium was infringing on its copyright, selling its product indiscriminately and compromising platform security. A judge dismissed Apple's claims as "puzzling," noting Corellium established "fair use." The settlement terms were not disclosed. Apple's Find My app in iOS 15 will use Bluetooth technology to precisely locate AirPods (Pro and Max) devices, and will tie AirPods to users' Apple ID. Platforms: Google wall of phones - Android 12 Google I/O 2021 Image Credits: Google Google launched Android 12 beta 4 , whose biggest new feature is that the platform has now reached stability. Developers can now test apps before the public release, without having to worry about future breaking changes. Android 12 offers a big redesign, with a more personalized "Material You" design language and increased privacy protections. Google banned the location data firm SafeGraph , funded by a former head of Saudi intelligence, which was paying developers to include their data collection tools in their apps so they could resell the data to other companies or government agencies. Any apps working with SafeGraph will have to remove the code. E-commerce DoorDash recently held talks to buy Instacart , according to a report from The Information . The $40 billion-$50 billion deal would have combined two top food delivery apps -- one for restaurants, the other for groceries -- but talks fell through. Weedmaps added in-app cannabis purchasing for iPhone users . Thanks to looser App Store restrictions , Weedmaps users can now browse, select and purchase cannabis and have it delivered or set for pickup directly within the app. Instagram is testing ads in its Shop tab , which allow brands to feature either an image or image carousel. The ads will launch with an auction-based model and will only appear on mobile devices. Augmented Reality Snap hired a Facebook AR executive, Joe Darko , The Information reported. The new AR leader, who previously launched the Spark AR Partner Network at Facebook, will now oversee Snap's AR Developer Relations. Fintech Image Credits: Venmo Venmo announced it would allow its credit card holders to automatically buy cryptocurrency with their card's cashback , through a new feature called Cash Back to Crypto. Cardholders can select between Bitcoin, Ethereum, Litecoin and Bitcoin Cash, which will be purchased monthly with no transaction fees. Social Some Snap creators have left for other platforms as the company's creator bonuses dried up, CNBC found . Snap had been paying $1 million per day in prize money for creators posting to its TikTok competitor, Spotlight. Now, it's paying "millions" per month -- and creators are chasing bigger bonuses elsewhere. Instagram's TikTok competitor, Reels, added a new feature that allows users to search for audio to include in their short-form videos, and the pages for the tracks will show the other videos that used them -- like TikTok offers. A report circulating this week claims TikTok surpassed Facebook's downloads in 2020, which um, we already knew many months ago? But yeah, it did. Instagram rolled out new anti-abuse features after high-profile incidents of racism took place on its platform following the Euro 2020 final, where angry fans attacked players. New tools include Limits , which lets you restrict certain groups from DM'ing and commenting for a period of time; plus an expansion of Hidden Words to include new strings of emoji; and a more aggressive "Hide More Comments" feature. Instagram took down a website, LikeUp.Me, selling fake likes and followers . The site, which was served a C&D from Facebook, had earned around $100K in the past year. Reddit is rolling out a TikTok-like video feed button on its iOS app . The feature has reached "most" iOS users and drops them into a full screen experience where users can upvote, downvote, comment on, gift an award or share the video. You can also swipe up to see more videos, also like TikTok. Surprisingly, the company claims its acquired Dubsmash IP was not a part of this project. Messaging Image Credits: WhatsApp WhatsApp will gain the ability to transfer chat history between mobile operating systems . The feature is coming to Samsung devices first, followed by a broader Android rollout, then iOS. Samsung customers can use the company's transfer tool, Smart Switch, which already copies other personal data between devices, to also now move their encrypted WhatsApp chat history, including voice notes, photos and conversations. Google is pushing mobile Hangouts users to switch to Google Chat through an in-app message that reminds users that Hangouts will be discontinued. Disgruntled users took to Google Play to express their anger with dozens of one-star reviews. How's that mess of a messaging app strategy looking now, Google? Messenger delves into the design of its recently launched "Soundmojis," which pair an emoji and sound together to create a new form of expression that would be universally understood and surprising. Facebook is bringing end-to-end encryption to Messenger calls , noting that E2E was the industry standard and what people now expect. The company said also it would begin testing E2E for group chats and calls in Messenger and Instagram DMs. Photos Apple's next iPhones will reportedly allow users to take "video portraits, " Bloomberg reported . Other additions will offer the ability to record video in the higher-quality format called ProRes and a new filters system to improve the look of photos. As Instagram's photography community is getting increasingly frustrated by the app's shift to video , a new app called Glass launched into beta to serve photographers of all sizes. As reported by Om Malik , who has been testing the app for nearly six months, subscription-based Glass is beautiful and fresh, and reminiscent of early Instagram, with support for comments and followers, but differentiates itself by not chasing clout though public likes. Image Credits: Glass Dating Facebook Dating is gaining an "audio chat" feature , which will allow matches to have voice chats to get to know one another. It's also adding a Lucky Pick, to suggest daters outside someone's typical preferences, and Match Anywhere, which allows users to consider locations outside their current city. A Match beta test is targeting users' most common dating app complaints, like too much swiping and ghosting . Now, Match will offer weekly "Matched by Us" recommendations and will prompt users to unmatch or respond, instead of leaving conversations hanging. The company also hinted that it may roll out a human-led matchmaking feature in the future, as well. Tinder's interactive feature, "Swipe Night," is coming back after a 20 million user turnout from its "season 1." The new version won't be a choose-your-own-adventure, but rather a "Gen Z whodunit," the company said, and will use the quick chat feature that allows users to chat without having first matched. [youtube https://www.youtube.com/watch?v=wvJhVXQGHOg?version=3&rel=1&showsearch=0&showinfo=1&iv_load_policy=1&fs=1&hl=en-US&autohide=2&wmode=transparent&w=640&h=360] Streaming & Entertainment HBO Max added free episodes to its platform, including its app for mobile devices. Users can sample 13 episodes from top shows and originals without paying, including "Euphoria," "Game of Thrones," "Lovecraft Country," "The Flight Attendant," "Veneno," "Warrior" and more, as well as browse the catalog to see what else is offered with a paid subscription. A Spotify representative told users in the company's forum that its work to add support for the nearly 3-year-old AirPlay 2 technology was being abandoned for the time being, citing "driver compatibility issues." The post gained a lot of attention from disgruntled users and press, leading Spotify to clarify that it "will support AirPlay 2," without offering a time frame. The company, a staunch Apple critic, has been hesitant to support other Apple products, including HomePod speakers, where native support isn't available. YouTube's Android app is trying out a new gesture that will allow users to navigate its video "Chapters" by double-tapping with two fingers. A new U.S. streaming report by Penthera found that 71% of viewers stream video on 2 devices per day, on average , including a connected TV device and mobile. And 80% said they watch videos at home. But now 92% (up from 88% last year) now say re-buffering is the biggest problem they face while streaming. Gaming Image Credits: App Annie App Annie released its 2021 gaming report , which estimates mobile gaming will reach $120 billion in consumer spending by year-end , or 3.1x more than consoles. Other highlights include: 4 of the top 10 most downloaded subgenres across all games are in the hypercasual category. "Happy Glass" is the fastest ever hypercasual game to break 100 million downloads. The pandemic pushed gaming to new levels. Weekly game downloads topped 1 billion in March 2020, and have stayed there ever since. In H1 2021, there were over 810 games surpassing $1 million in consumer spending per month, up 25% from 2019. In H1 2021, per week there were over 1 billion downloads, $1.7 billion spent and 5 billion hours spent on mobile games globally. The U.S. topped the mobile games market by App Store consumer spending. AppLovin topped the charts for worldwide downloads, while Tencent dominated consumer spend. U.S. mobile game usage skews female (64% of gamers are female). That's not the same in other markets, where more mobile gamers are men -- like Japan (56% male) and South Korea (53% male). U.S. mobile tabletop game spending rose by 40% to $704 million over the past 12 months, a Sensor Tower report found . The top grossing game was Solitaire Grand Harvest from Supertreat, followed by Solitaire TriPeaks from GSN, then Yahtzee with Buddies Dice from Scopely. Downloads, however, declined by 12% YoY, with 202.7 million installs over the past 12 months, versus 230.7 million in the year-ago period. Epic Games CEO Tim Sweeney discovered a surprise in a set of recently unsealed court documents in the Epic Games v. Google antitrust case . He learned that Google had once mulled acquiring his company at some point -- which Sweeney said was related to Epic's decision to compete with Google Play. The documents also refer to the "frankly abysmal" sideloading experience on Android. Food Google-owned navigation app Waze announced a partnership with Too Good To Go, an organization that works with small businesses and organizations to decrease food waste. The partnership will highlight independent restaurants and grocery stores in select U.S. cities that are taking steps to reduce food waste by showcasing them on the Waze map. These businesses also sell "surprise" bags of food that contain three times more food than the cost of the bag at the end of the day. The food is perfectly good, but can't be sold the second day, so would otherwise be thrown out. OpenTable's app added a new Direct Messaging feature that lets diners and restaurants communicate directly after a reservation is made, instead of having to place a phone call . The feature can be used to clarify a diner's requests, or other changes, or even message after the reservation has ended in case of items that were left behind, or other needs. Image Credits: OpenTable Adtech Tapjoy launched MobileVoice, a market research solution for surveying mobile-first consumers where researchers bid for each response. Higher bids will give users more virtual currency for their game, which motivates consumers to share their opinions. Government & Policy WhatsApp, Facebook, Instagram, Messenger and Twitter were restricted in Zambia amidst ongoing general elections on Thursday, polling day, through Sunday, when votes counts are expected to have ended. Facebook's acquisition of GIF database Giphy has come under fire from U.K. regulator, the Competition and Markets Authority, which announced a preliminary finding that the deal "will harm competition." India's government says Twitter is now in compliance with the country's new IT laws , which required the company to appoint a chief compliance officer, a nodal contact person and a resident grievance officer in the country. Security & Privacy Recommended Reading: TechCrunch Editor-in-Chief Matthew Panzarino interviewed Apple Privacy head Erik Neuenschwander about the company's plans to detect CSAM and Apple's new Messages app safety features. Apple's announcement stirred controversy in the security community because of how the company is implementing the technology, which some have argued could leave the door open for other governments or agencies to compromise for their own ends. Neuenschwander explains the system's protections that make it less useful for doing so -- meaning that its technology itself, and not just Apple's word, could prevent this type of abuse. And in terms of user privacy, there is an opt-out -- you just turn off iCloud Photos. Interview: Apple’s head of Privacy details child abuse detection and Messages safety features Funding and M&A 💰 Privacy-oriented search app Xayn raised $12 million in Series A funding led by Japanese investors Global Brain and KDDI (a Japanese telecommunications operator) for its app that fuses together search, a discovery feed and a mobile browser. The app will focus on Asian markets and Europe. 💰 Social banking app Kroo raised $24.5 million in Series A funding led by Rudy Karsan, a high-net-worth tech entrepreneur and founder of Karlani Capital. The London-based fintech offers a prepaid card service but is moving toward offering expanded banking services in its mobile app. 🤝 Pokémon GO developer Niantic acquired the iPhone and iPad app Scaniverse for an undisclosed sum. The Scaniverse app allows users to scan objects and environments into high-res 3D, and will remain live on the App Store, and the founder will join Niantic's AR team. 💰 Car ownership "super app" Jerry raised $75 million in Series C funding led by existing backer Goodwater Capital, valuing its business at $450 million. The app uses automation to give consumers customized quotes from more than 45 insurance carriers, but is expanding into areas like financing, repair, warranties, parking, maintenance and more. 💰 Mobile field service startup Youreka Labs raised $8.5 million in Series A funding co-led by Boulder Ventures and Grotech Ventures. The company simplifies development of mobile service applications with a no-code authoring studio and one-click deployment to Apple, Android and Windows. 💰 Reddit confirmed it has raised $410 million of a planned $700 million Series F funding round, led by Fidelity, valuing the business at $10 billion. The funds will be used to further build out community and advertising efforts, as well as increase headcount. 🤝 U.S. grocery delivery service Gopuff acquired U.K. competitor Dija , which was only eight months old, to expand into Europe. Gopuff had previously acquired a similar startup, Fancy, just three months ago. 💰 India's VerSe Innovation, makers of Dailyhunt and Josh apps, raised over $450 million in a Series I funding round led by Siguler Guff, Baillie Gifford, affiliates of Carlyle Asia Partners Growth II and others. The company's new valuation is now "nearing $3 billion." Dailyhunt now has over 300 million MAUs and Josh has 115 million MAUs. 💰 Social calendar app Saturn raised $35 million led by General Catalyst, Insight Partners and Coatue, bringing its total raise to date to $44 million. The app allows high school students to manage their schedule, track assignments, chat with friends and more across web and mobile devices. 🤝 Fintech Robinhood acquired Say Technologies , a company offering a communications platform that allows smaller shareholders to pose questions to companies in which they invest. The $140 million all-cash deal is Robinhood's first major purchase since going public in late July. 🤝 Medal.tv, a short-form video clipping service and social network for gamers, entered the livestreaming market with the acquisition of Rawa.tv, a Twitch rival based in Dubai. Deal terms were not revealed, but the deal was in the seven figures. 💰 Turkey's Trendyol, an e-commerce website and app serving over 30 million shoppers, raised $1.5 billion in a round that valued the company at $16.5 billion. General Atlantic, SoftBank Vision Fund 2, Princeville Capital and sovereign wealth funds, ADQ (UAE) and Qatar Investment Authority, co-led. 💰 Argentine fintech Ualá raised $350 million in Series D funding, valuing its business at $2.45 billion. The company offers a Mastercard and app, where users can access bill pay solutions, investment products, personal loans, BNPL installments and insurance. To date, the startup has issued more than 3.5 million cards in Mexico and Argentina. 💰 Fintech Chime Financial raised $750 million in a round that values the business at $25 billion, ahead of a planned IPO next year. The round was led by new investor Sequoia Capital Global Equities. Chime today offers credit cards and no-fees banking services through a mobile app. 💰 Mexico's Orchata, a mobile app for getting groceries delivered via micro-fulfillment centers, raised $4 million in seed funding from investors including Y Combinator, JAM Fund, FJ Labs, Venture Friends, Investo and Foundation Capital, and angel investors Ross Lipson, Mike Hennessey, Brian Requarth and Javier Mata. Public Markets Krafton, the South Korean maker of PUBG, closed 9% down on its first day of trading on Tuesday after first debuting at $432 per share. Analysts said the company tried to go out with a valuation that was too high. At closing, the valuation was $19.32 billion. To date, PUBG Mobile has generated $6.3 billion in player spending across the app stores. Crypto app Coinbase's stock jumped 7% on Wednesday after better-than-expected earnings , where the company reported $1.6 billion in net profit for the quarter (earnings per share of $3.45), beating analyst estimates. Coinbase trading volumes were also up 38% to $462 billion in Q2. TikTok owner ByteDance is considering a Hong Kong IPO, The FT reported . The Beijing-based tech company may list in either Q4 2021 or early 2022. As of its last fundraise of $5 billion in December 2020, the company was valued at $180 billion. Mobile marketer and game provider AppLovin's stock jumped 4.2% in after-hours trading Wednesday after the company reported 123% revenue growth to $669 million year-over-year from $299 million, beating analyst estimates. EPS was 4 cents versus a loss of 10 cents in the year-ago period. The Disney+ streaming service beat analyst expectations to reach 116 million subscribers in Disney's fiscal Q3. Disney now has nearly 174 million subscribers across Disney+, Hulu and ESPN+. Downloads Reelgood (update) [youtube https://www.youtube.com/watch?v=KJeG8H3mSkU?version=3&rel=1&showsearch=0&showinfo=1&iv_load_policy=1&fs=1&hl=en-US&autohide=2&wmode=transparent&w=640&h=360] Streaming guide Reelgood has historically offered a great service for discovering new things to watch, and keeping track of where you've left off with favorite shows. Now, the company is introducing a new feature called Search Party , which makes it easier for two or more people to find something to watch that they all agree on. Using a familiar swipe left or right mechanism, users try to find a "match." The feature also lets you set other filters, like release year, IMDb rating, genre and more, to narrow its suggestions. When one or more matches is detected, Reelgood notifies the group and displays the matches in a new tab where they're organized by the total number of "Likes." Reelgood is a free download on iOS and Android. PairPlay PairPlay is a clever new app from Jonathan Wegener, previously co-founder of Timehop and product designer at Snap, which turns a pair of AirPods into a two-person adventure game. You and one other player will split the pair, with one person taking the left AirPod and the other taking the right, to start the audio challenge. The players will hear different sides of the audio adventure story at the same time, which they can then play out together. Storylines may have you playing as secret agents, ghost hunters, robots and more. The game is family-friendly and can be played with kids as young as 7, though arguably some adults will have fun with this one, too. The app is a free download and requires AirPods. || This Week in Apps: Google, TikTok add protections for minors, app store bill proposes big changes, what's new with Samsung: Welcome back to This Week in Apps,the weekly TechCrunch seriesthat recaps the latest in mobile OS news, mobile applications and the overall app economy.
The app industry continues to grow, witha record218 billion downloads and $143 billion in global consumer spend in 2020. Consumers last year alsospent3.5 trillion minutes using apps on Android devices alone. And in the U.S., app usage surged ahead of the time spent watching live TV. Currently, the average Americanwatches3.7 hours of live TV per day, but now spends four hours per day on their mobile devices.
Apps aren’t just a way to pass idle hours — they’re also a big business. In 2019, mobile-first companies had acombined$544 billion valuation, 6.5x higher than those without a mobile focus. In 2020, investorspoured$73 billion in capital into mobile companies — a figure that’s up 27% year-over-year.
This Week in Apps offers a way to keep up with this fast-moving industry in one place with the latest from the world of apps, including news, updates, startup fundings, mergers and acquisitions, and suggestions about new apps and games to try, too.
Do you want This Week in Apps in your inbox every Saturday? Sign up here:techcrunch.com/newsletters
Image Credits:TechCrunch
A bipartisan group of three U.S. senators -- Richard Blumenthal (D-CT), Amy Klobuchar (D-MN) and Marsha Blackburn (R-TN) --introduceda new piece of legislation calledthe Open Markets Act, could change the way mobile software is distributed. The bill would give developers the right to tell their customers about lower prices outside the app stores (without fear of punishment), and permit alternative payment mechanisms, sideloading and third-party app stores where developers could avoid platform fees. It would also bar platform makers like Apple and Google from using non-public information they collect via app stores to build out competing products, or rank those products more favorably.
The bill is beingapplaudedby Apple critics, including the Coalition for App Fairness and its members, Epic Games, Spotify, Tile and others, who are now urging Congress to swiftly pass the legislation to level the playing field.
As regulatory pressure on platform makers has intensified, the companies looked for ways to better cater to smaller developers withdropsincommissionrates, as well as increasedprivacyandsecuritymeasures -- the latter which could help boost their arguments that the app store model is favorable to consumer interests.
Such a bill is a notable first step toward some sort of market changes, but it's still too early to know if or when the bill will gain traction, much less be passed into law.
A new Senate bill would totally upend Apple and Google’s app store dominance
Google and YouTube(as well asTikTok) this week rolled out a series of changes to their products and services to increase the privacy and security of accounts belonging to teenaged users under the age of 18. The specific changes vary a bit from service to service, but are largely focused on making younger people's accounts more private by default, ensuring they're making an intentional choice when shifting accounts or content to become public, and limiting to what extent advertisers can target them. TikTok went a bit further to restrict push notifications after "bedtime" hours for its teen users, while YouTube chose to turn on its "take a break" and "bedtime" reminders by default instead.
Image Credits:TikTok
The changes follow similar moves announcedjust weeks ago by Instagram, and follow increased pressure from the U.S. Congress to do more to protect younger users from the harmful impacts of using technology.
One piece of legislation, which tech companies may be trying to get ahead of, is an update to COPPA that would expand some protections to children under the age of 18, instead of just under 13. What's missing from all these initiatives, however, is any plan to more strictly verify children's ages on an app. Since many kids already know to lie about their birth year at sign-up, it's unclear how effective these measures will be in the long term.
TikTok to add more privacy protections for teenaged users, limit push notifications
Image Credits:Brian Heater
Samsung this weekhosted its Unpacked event, where it debuted the company's latest mobile products. This time, the smartphone maker showed off a new crop of foldables, including the Galaxy Z Fold 3 and Galaxy Z Flip 3 (clamshell, woo!), which will give app makers even more device styles and formats to consider when designing their apps. Well, if these foldables ever gain market traction that is, instead ofexistingin consumers' minds as a gimmick. (For what it's worth,Microsoft hopped onthe bandwagon.)
Samsung also introduced a new smartwatch powered by Google's WearOS (if you can't beat 'em...), the Galaxy Watch 4, and entry-level wireless earbuds, the Galaxy Buds 2.
• Apple released the fifth betas of iOS 15 and iPadOS 15to developers, which offer some more minor tweaks and stability improvements as the platforms head toward a fall release.New additions includean updated weather icon, shading around the tab interface in Safari on iPad, an option to use larger icons on iPad, a new warning pop-up that reminds you the iPhone is still findable when off, new splash screens for Apple's apps, the integration of TestFlight info in the App Storeand more.
• Apple released a new developer tool thatallows app makers to testhow their app behaves when the device is connected to 5Ginstead of Wi-Fi. The tool is necessary because iOS 15/iPadOS 15 devices can automatically prioritize 5G over Wi-Fi when the latter's performance is slow.
• Applesettled a 2019 lawsuit with Corellium, a company that builds virtual iOS devicesused by security researchers. Apple had said Corellium was infringing on its copyright, selling its product indiscriminately and compromising platform security. A judge dismissed Apple's claims as "puzzling," noting Corellium established "fair use." The settlement terms were not disclosed.
• Apple's Find My app in iOS 15 will use Bluetooth technology toprecisely locate AirPods(Pro and Max) devices, and will tie AirPods to users' Apple ID.
Image Credits:Google
• Googlelaunched Android 12 beta 4,whose biggest new feature is that the platform has now reached stability. Developers can now test apps before the public release, without having to worry about future breaking changes. Android 12 offers a big redesign, with a more personalized "Material You" design language and increased privacy protections.
• Googlebanned the location data firm SafeGraph,funded by a former head of Saudi intelligence, which was paying developers to include their data collection tools in their apps so they could resell the data to other companies or government agencies. Any apps working with SafeGraph will have to remove the code.
• DoorDash recently held talks to buy Instacart, according to a report fromThe Information. The $40 billion-$50 billion deal would have combined two top food delivery apps -- one for restaurants, the other for groceries -- but talks fell through.
• Weedmapsadded in-app cannabis purchasingfor iPhone users. Thanks to looser App Storerestrictions, Weedmaps users can now browse, select and purchase cannabis and have it delivered or set for pickup directly within the app.
• Instagram istesting ads in its Shop tab, which allow brands to feature either an image or image carousel. The ads will launch with an auction-based model and will only appear on mobile devices.
• Snap hired a Facebook AR executive, Joe Darko,The Informationreported. The new AR leader, who previously launched the Spark AR Partner Network at Facebook, will now oversee Snap's AR Developer Relations.
Image Credits:Venmo
• Venmoannouncedit would allow its credit card holders to automatically buy cryptocurrency with their card's cashback, through a new feature called Cash Back to Crypto. Cardholders can select between Bitcoin, Ethereum, Litecoin and Bitcoin Cash, which will be purchased monthly with no transaction fees.
• Some Snap creators have left for other platformsas the company's creator bonuses dried up,CNBC found. Snap had been paying $1 million per day in prize money for creators posting to its TikTok competitor, Spotlight. Now, it's paying "millions" per month -- and creators are chasing bigger bonuses elsewhere.
• Instagram's TikTok competitor, Reels, added a new feature thatallows users to search for audioto include in their short-form videos, and the pages for the tracks will show the other videos that used them -- like TikTok offers.
• A reportcirculating this weekclaims TikTok surpassed Facebook's downloadsin 2020, which um,we already knewmany months ago? But yeah, it did.
• Instagramrolled out new anti-abuse featuresafter high-profile incidents of racism took place on its platform following the Euro 2020 final, where angry fans attacked players. New tools includeLimits, which lets you restrict certain groups from DM'ing and commenting for a period of time; plus an expansion ofHidden Wordsto include new strings of emoji; and a more aggressive "Hide More Comments" feature.
• Instagramtook down a website,LikeUp.Me, selling fake likes and followers. The site, which was served a C&D from Facebook, had earned around $100K in the past year.
• Reddit isrolling out a TikTok-like video feed buttonon its iOS app. The feature has reached "most" iOS users and drops them into a full screen experience where users can upvote, downvote, comment on, gift an award or share the video. You can also swipe up to see more videos, also like TikTok. Surprisingly, the company claims its acquired Dubsmash IP was not a part of this project.
Image Credits:WhatsApp
• WhatsApp will gain the ability totransfer chat history between mobile operating systems.The feature is coming to Samsung devices first, followed by a broader Android rollout, then iOS. Samsung customers can use the company's transfer tool, Smart Switch, which already copies other personal data between devices, to also now move their encrypted WhatsApp chat history, including voice notes, photos and conversations.
• Google is pushing mobile Hangouts users to switch to Google Chatthrough an in-app message that reminds users that Hangouts will be discontinued. Disgruntled users took to Google Play to express their anger with dozens of one-star reviews. How's thatmess of a messaging app strategylooking now, Google?
• Messenger delves into the design of itsrecently launched "Soundmojis,"which pair an emoji and sound together to create a new form of expression that would be universally understood and surprising.
• Facebook isbringing end-to-end encryptionto Messenger calls, noting that E2E was the industry standard and what people now expect. The company said also it would begin testing E2E for group chats and calls in Messenger and Instagram DMs.
• Apple's next iPhones will reportedly allow users to take "video portraits,"Bloomberg reported. Other additions will offer the ability to record video in the higher-quality format called ProRes and a new filters system to improve the look of photos.
• As Instagram's photography community isgetting increasingly frustratedby the app's shift to video, a new app calledGlasslaunched into beta to serve photographers of all sizes. Asreported by Om Malik, who has been testing the app for nearly six months, subscription-based Glass is beautiful and fresh, and reminiscent of early Instagram, with support for comments and followers, but differentiates itself by not chasing clout though public likes.
Image Credits:Glass
• Facebook Dating isgainingan "audio chat" feature, which will allow matches to have voice chats to get to know one another. It's also adding a Lucky Pick, to suggest daters outside someone's typical preferences, and Match Anywhere, which allows users to consider locations outside their current city.
• A Match beta test istargeting users' most common dating app complaints,like too much swiping and ghosting. Now, Match will offer weekly "Matched by Us" recommendations and will prompt users to unmatch or respond, instead of leaving conversations hanging. The company also hinted that it may roll out a human-led matchmaking feature in the future, as well.
• Tinder's interactive feature, "Swipe Night," iscoming backafter a 20 million user turnout from its "season 1."The new version won't be a choose-your-own-adventure, but rather a "Gen Z whodunit," the company said, and will use the quick chat feature that allows users to chat without having first matched.
[youtube https://www.youtube.com/watch?v=wvJhVXQGHOg?version=3&rel=1&showsearch=0&showinfo=1&iv_load_policy=1&fs=1&hl=en-US&autohide=2&wmode=transparent&w=640&h=360]
• HBO Maxadded free episodesto its platform, including its appfor mobile devices. Users can sample 13 episodes from top shows and originals without paying, including "Euphoria," "Game of Thrones," "Lovecraft Country," "The Flight Attendant," "Veneno," "Warrior" and more, as well as browse the catalog to see what else is offered with a paid subscription.
• A Spotifyrepresentative told usersin the company'sforumthat its work to add support for the nearly 3-year-old AirPlay 2 technology was being abandonedfor the time being, citing "driver compatibility issues." The post gained a lot of attention from disgruntled users and press, leading Spotify to clarify that it "will support AirPlay 2," without offering a time frame. The company, a staunch Apple critic, has been hesitant to support other Apple products, including HomePod speakers, where native support isn't available.
• YouTube's Android app is trying out a new gesturethat willallow users to navigateits video "Chapters" by double-tapping with two fingers.
• Anew U.S. streaming reportby Penthera found that 71% of viewers stream video on 2 devices per day, on average, including a connected TV device and mobile. And 80% said they watch videos at home. But now 92% (up from 88% last year) now say re-buffering is the biggest problem they face while streaming.
Image Credits:App Annie
• App Annie released its2021 gaming report, which estimates mobile gaming will reach $120 billion in consumer spending by year-end, or 3.1x more than consoles. Other highlights include:4 of the top 10 most downloaded subgenres across all games are in the hypercasual category."Happy Glass" is the fastest ever hypercasual game to break 100 million downloads.The pandemic pushed gaming to new levels. Weekly game downloads topped 1 billion in March 2020, and have stayed there ever since.In H1 2021, there were over 810 games surpassing $1 million in consumer spending per month, up 25% from 2019.In H1 2021, per week there were over 1 billion downloads, $1.7 billion spent and 5 billion hours spent on mobile games globally.The U.S. topped the mobile games market by App Store consumer spending.AppLovin topped the charts for worldwide downloads, while Tencent dominated consumer spend.U.S. mobile game usage skews female (64% of gamers are female). That's not the same in other markets, where more mobile gamers are men -- like Japan (56% male) and South Korea (53% male).
• U.S. mobile tabletop game spending rose by 40% to $704 million over the past 12 months, aSensor Tower report found.The top grossing game was Solitaire Grand Harvest from Supertreat, followed by Solitaire TriPeaks from GSN, then Yahtzee with Buddies Dice from Scopely. Downloads, however, declined by 12% YoY, with 202.7 million installs over the past 12 months, versus 230.7 million in the year-ago period.
• Epic Games CEO Tim Sweeneydiscovereda surprise in a set of recently unsealed courtdocumentsin the Epic Games v. Google antitrust case. He learned that Google had once mulled acquiring his company at some point -- which Sweeney said was related to Epic's decision to compete with Google Play. The documents also refer to the "frankly abysmal" sideloading experience on Android.
• Google-owned navigation app Waze announced apartnershipwith Too Good To Go,an organization that works with small businesses and organizations to decrease food waste. The partnership will highlight independent restaurants and grocery stores in select U.S. cities that are taking steps to reduce food waste by showcasing them on the Waze map. These businesses also sell "surprise" bags of food that contain three times more food than the cost of the bag at the end of the day. The food is perfectly good, but can't be sold the second day, so would otherwise be thrown out.
• OpenTable's appadded a new Direct Messaging featurethat lets diners and restaurants communicate directly after a reservation is made, instead of having to place a phone call. The feature can be used to clarify a diner's requests, or other changes, or even message after the reservation has ended in case of items that were left behind, or other needs.
Image Credits:OpenTable
• TapjoylaunchedMobileVoice, a market research solution for surveying mobile-first consumerswhere researchers bid for each response. Higher bids will give users more virtual currency for their game, which motivates consumers to share their opinions.
• WhatsApp, Facebook, Instagram, Messenger and Twitterwere restricted in Zambiaamidst ongoing general electionson Thursday, polling day, through Sunday, when votes counts are expected to have ended.
• Facebook's acquisition of GIF database Giphy has come under fire from U.K. regulator,the Competition and Markets Authority,which announceda preliminary finding that the deal "will harm competition."
• India's government saysTwitter is now in compliancewith the country's new IT laws, which required the company to appoint a chief compliance officer, a nodal contact person and a resident grievance officer in the country.
• Recommended Reading: TechCrunch Editor-in-Chief Matthew Panzarinointerviewed Apple Privacy head Erik Neuenschwanderabout the company's plans to detect CSAMand Apple's new Messages app safety features. Apple's announcement stirred controversy in the security community because of how the company is implementing the technology, which some have argued could leave the door open for other governments or agencies to compromise for their own ends. Neuenschwander explains the system's protections that make it less useful for doing so -- meaning that its technology itself, and not just Apple's word, could prevent this type of abuse. And in terms of user privacy, there is an opt-out -- you just turn off iCloud Photos.
Interview: Apple’s head of Privacy details child abuse detection and Messages safety features
💰 Privacy-oriented search app Xaynraised $12 millionin Series A funding led by Japanese investors Global Brain and KDDI (a Japanese telecommunications operator) for its app that fuses together search, a discovery feed and a mobile browser. The app will focus on Asian markets and Europe.
💰 Social banking app Krooraised $24.5 millionin Series A funding led by Rudy Karsan, a high-net-worth tech entrepreneur and founder of Karlani Capital. The London-based fintech offers a prepaid card service but is moving toward offering expanded banking services in its mobile app.
🤝Pokémon GO developer Nianticacquiredthe iPhone and iPad app Scaniversefor an undisclosed sum. The Scaniverse app allows users to scan objects and environments into high-res 3D, and will remain live on the App Store, and the founder will join Niantic's AR team.
💰 Car ownership "super app" Jerryraised $75 millionin Series C funding led by existing backer Goodwater Capital, valuing its business at $450 million. The app uses automation to give consumers customized quotes from more than 45 insurance carriers, but is expanding into areas like financing, repair, warranties, parking, maintenance and more.
💰 Mobile field service startup Youreka Labsraised $8.5 millionin Series A funding co-led by Boulder Ventures and Grotech Ventures. The company simplifies development of mobile service applications with a no-code authoring studio and one-click deployment to Apple, Android and Windows.
💰 Reddit confirmed it hasraised $410 million of a planned $700 millionSeries F funding round, led by Fidelity, valuing the business at $10 billion. The funds will be used to further build out community and advertising efforts, as well as increase headcount.
🤝U.S. grocery delivery service GopuffacquiredU.K. competitor Dija, which was only eight months old, to expand into Europe. Gopuff had previously acquired a similar startup, Fancy, just three months ago.
💰 India's VerSe Innovation, makers of Dailyhunt and Josh apps, raisedover $450 millionin a Series I funding round led by Siguler Guff, Baillie Gifford, affiliates of Carlyle Asia Partners Growth II and others. The company's new valuation is now "nearing $3 billion." Dailyhunt now has over 300 million MAUs and Josh has 115 million MAUs.
💰 Social calendar app Saturnraised $35 millionled by General Catalyst, Insight Partners and Coatue, bringing its total raise to date to $44 million. The app allows high school students to manage their schedule, track assignments, chat with friends and more across web and mobile devices.
🤝Fintech RobinhoodacquiredSay Technologies, a company offering a communications platform that allows smaller shareholders to pose questions to companies in which they invest. The $140 million all-cash deal is Robinhood's first major purchase since going public in late July.
🤝Medal.tv, a short-form video clipping service and social network for gamers, entered the livestreaming market with theacquisitionof Rawa.tv,a Twitch rival based in Dubai. Deal terms were not revealed, but the deal was in the seven figures.
💰 Turkey's Trendyol, an e-commerce website and app serving over 30 million shoppers,raised $1.5 billionin a round that valued the company at $16.5 billion. General Atlantic, SoftBank Vision Fund 2, Princeville Capital and sovereign wealth funds, ADQ (UAE) and Qatar Investment Authority, co-led.
💰 Argentine fintech Ualáraised $350 millionin Series D funding, valuing its business at $2.45 billion.The company offers a Mastercard and app, where users can access bill pay solutions, investment products, personal loans, BNPL installments and insurance. To date, the startup has issued more than 3.5 million cards in Mexico and Argentina.
💰 Fintech Chime Financial raised $750 million in a round that values the business at $25 billion, ahead of a planned IPO next year.The round was led by new investor Sequoia Capital Global Equities. Chime today offers credit cards and no-fees banking services through a mobile app.
💰Mexico's Orchata, a mobile app for getting groceries delivered via micro-fulfillment centers,raised $4 millionin seed funding from investors including Y Combinator, JAM Fund, FJ Labs, Venture Friends, Investo and Foundation Capital, and angel investors Ross Lipson, Mike Hennessey, Brian Requarth and Javier Mata.
Krafton, the South Korean maker of PUBG,closed 9% down on its first day of tradingon Tuesday after first debuting at $432 per share. Analysts said the company tried to go out with a valuation that was too high. At closing, the valuation was $19.32 billion. To date, PUBG Mobile has generated $6.3 billion in player spending across the app stores.
Crypto app Coinbase's stock jumped 7% on Wednesday afterbetter-than-expected earnings,where the company reported $1.6 billion in net profit for the quarter (earnings per share of $3.45), beating analyst estimates. Coinbase trading volumes were also up 38% to $462 billion in Q2.
TikTok owner ByteDance is considering a Hong Kong IPO,The FT reported. The Beijing-based tech company may list in either Q4 2021 or early 2022. As of its last fundraise of $5 billion in December 2020, the company was valued at $180 billion.
Mobile marketer and game provider AppLovin's stock jumped 4.2% in after-hours tradingWednesday after the company reported123% revenue growth to $669 millionyear-over-year from $299 million, beating analyst estimates. EPS was 4 cents versus a loss of 10 cents in the year-ago period.
The Disney+ streaming service beat analyst expectations toreach 116 million subscribersin Disney's fiscal Q3. Disney now has nearly 174 million subscribers across Disney+, Hulu and ESPN+.
[youtube https://www.youtube.com/watch?v=KJeG8H3mSkU?version=3&rel=1&showsearch=0&showinfo=1&iv_load_policy=1&fs=1&hl=en-US&autohide=2&wmode=transparent&w=640&h=360]
Streaming guide Reelgood has historically offered a great service for discovering new things to watch, and keeping track of where you've left off with favorite shows. Now, the company is introducing a new feature calledSearch Party, which makes it easier for two or more people to find something to watch that they all agree on. Using a familiar swipe left or right mechanism, users try to find a "match." The feature also lets you set other filters, like release year, IMDb rating, genre and more, to narrow its suggestions. When one or more matches is detected, Reelgood notifies the group and displays the matches in a new tab where they're organized by the total number of "Likes." Reelgood is a free download on iOS and Android.
PairPlayis a clever new app from Jonathan Wegener, previously co-founder of Timehop and product designer at Snap, which turns a pair of AirPods into a two-person adventure game. You and one other player will split the pair, with one person taking the left AirPod and the other taking the right, to start the audio challenge. The players will hear different sides of the audio adventure story at the same time, which they can then play out together. Storylines may have you playing as secret agents, ghost hunters, robots and more. The game is family-friendly and can be played with kids as young as 7, though arguably some adults will have fun with this one, too. The app is a free download and requires AirPods. || Ford Counterattacks GM In Trademark Infringement Dispute, Says Will Go To Patent Office: On Friday,Ford Motor Company(NYSE:F) reiterated thatGeneral Motors Company's(NYSE:GM) lawsuit is frivolous.
What Happened:In the latest development in the trademark infringement dispute between the two automakers, Ford said that it will ask the U.S. Patent Office to rescind trademarks obtained by rival GM for the terms "Cruise" and "Super Cruise,"Reutersreports.
Last month, GM filed a federallawsuitagainst Ford for violating a trademarked hands-free driving technology name "Blue Cruise." The company said Ford's Blue Cruise name infringed on GM's Super Cruise trademark.
GM had previously trademarked "Super Cruise" for its hands-free, partially automated, driving technology. The company has also trademarked "Cruise," the name of its Robo-taxi unit in San Francisco.
In a statement, Ford said, "To defend itself, Ford has no choice but to ask the U.S. Patent and Trademark Office to rescind both of GM's "Cruise" and "Super Cruise" trademark registrations that should have never been registered in the first place."
Ford said many companies are using the word 'cruise' in connection with driver-assist technology. To name a few, it mentioned "Predictive Cruise," marketed by Mack Trucks; "Smart Cruise Control," sold byHyundai Motor Co(OTC:HYMTF), and Autocruise, used by auto supplier ZF Friedrichshafen AG.
In response to Ford, GM said on Friday that Super Cruise "has had a well-established commercial presence since 2017," and added in a statement that the company "remains committed to vigorously defending our brands and protecting the equity our products and technology have earned over several years in the market and that won't change."
Why It Matters:There has been stiff competition among established automakers in the automated driving technology field. The clash between Ford and GM shows the intensity of the competition.
In 2012, GM announced plans to use the name Super Cruise for its hands-free driver assistance technology. It has been marketing the technology using the brand name since 2017.
GM's Cruise self-driving vehicle unit has been operating since 2013.
In 2020, Ford started offering its Blue Cruise hands-free driving technology on F-150 pickup.
The company is also offering Blue Cruise as an over-the-air software update on its electric Mustang Mach-E.
See also:How to Buy Ford Stock
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• Bitcoin's Realized Market Cap Hits 8B, Total Market Cap at 0B
• Philip Morris Raises Bid For UK Inhaler Group Vectura
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Ford Counterattacks GM In Trademark Infringement Dispute, Says Will Go To Patent Office: On Friday, Ford Motor Company (NYSE: F ) reiterated that General Motors Company's (NYSE: GM ) lawsuit is frivolous. What Happened: In the latest development in the trademark infringement dispute between the two automakers, Ford said that it will ask the U.S. Patent Office to rescind trademarks obtained by rival GM for the terms "Cruise" and "Super Cruise," Reuters reports. Last month, GM filed a federal lawsuit against Ford for violating a trademarked hands-free driving technology name "Blue Cruise." The company said Ford's Blue Cruise name infringed on GM's Super Cruise trademark. GM had previously trademarked "Super Cruise" for its hands-free, partially automated, driving technology. The company has also trademarked "Cruise," the name of its Robo-taxi unit in San Francisco. In a statement, Ford said, "To defend itself, Ford has no choice but to ask the U.S. Patent and Trademark Office to rescind both of GM's "Cruise" and "Super Cruise" trademark registrations that should have never been registered in the first place." Ford said many companies are using the word 'cruise' in connection with driver-assist technology. To name a few, it mentioned "Predictive Cruise," marketed by Mack Trucks; "Smart Cruise Control," sold by Hyundai Motor Co (OTC: HYMTF ), and Autocruise, used by auto supplier ZF Friedrichshafen AG. In response to Ford, GM said on Friday that Super Cruise "has had a well-established commercial presence since 2017," and added in a statement that the company "remains committed to vigorously defending our brands and protecting the equity our products and technology have earned over several years in the market and that won't change." Why It Matters: There has been stiff competition among established automakers in the automated driving technology field. The clash between Ford and GM shows the intensity of the competition. Story continues In 2012, GM announced plans to use the name Super Cruise for its hands-free driver assistance technology. It has been marketing the technology using the brand name since 2017. GM's Cruise self-driving vehicle unit has been operating since 2013. In 2020, Ford started offering its Blue Cruise hands-free driving technology on F-150 pickup. The company is also offering Blue Cruise as an over-the-air software update on its electric Mustang Mach-E. See also: How to Buy Ford Stock See more from Benzinga Click here for options trades from Benzinga Bitcoin's Realized Market Cap Hits 8B, Total Market Cap at 0B Philip Morris Raises Bid For UK Inhaler Group Vectura © 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || COIN EQUITY ALERT: Kessler Topaz Meltzer & Check, LLP Announces that a Securities Fraud Class Action Lawsuit was filed on Behalf of Investors of Coinbase Global Inc.: RADNOR, Pa., Aug. 14, 2021 (GLOBE NEWSWIRE) -- The law firm of Kessler Topaz Meltzer & Check, LLP reminds Coinbase Global Inc. (NASDAQ: COIN) (“Coinbase”) investors that a securities fraud class action lawsuit has been filed in the United States District Court for the Northern District of California against Coinbase on behalf of those who purchased or acquired CoinbaseClass A common stock pursuant and/or traceable to the registration statement and prospectus (collectively, the “Offering Materials”) for the resale of up to 114,850,769 shares of its Class A common stock, whereby Coinbase began trading as a public company on or around April 14, 2021 (the “Offering”).
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According to the complaint, Coinbase “powers the cryptoeconomy,” offering a “trusted platform” for sending and receiving Bitcoin and other digital assets built using blockchain technology to approximately 43 million retail users, 7,000 institutions, and 115,000 ecosystem partners in over 100 countries.
On April 14, 2021, Coinbase filed its prospectus on a Form 424B4, which forms part of the registration statement. Coinbase registered for the resale of up to 114,850,769 shares of its Class A common stock by registered shareholders.
The complaint alleges that the Offering Materials were false and misleading and omitted to state that, at the time of the Offering: (1) Coinbase required a sizeable cash injection; (2) Coinbase’s platform was susceptible to service-level disruptions, which were increasingly likely to occur as Coinbase scaled its services to a larger user base; and (3) as a result of the foregoing, the defendants’ positive statements about Coinbase’s business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.
Coinbase investors may,no later than September 20, 2021, seek to be appointed as a lead plaintiff representative of the class through Kessler Topaz Meltzer & Check, LLP, or other counsel, or may choose to do nothing and remain an absent class member. A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. In order to be appointed as a lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class. Communicating with any counsel is not necessary to participate or share in any recovery achieved in this case. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff.
Kessler Topaz Meltzer & Check, LLP prosecutes class actions in state and federal courts throughout the country involving securities fraud, breaches of fiduciary duties and other violations of state and federal law. Kessler Topaz Meltzer & Check, LLP is a driving force behind corporate governance reform, and has recovered billions of dollars on behalf of institutional and individual investors from the United States and around the world. The firm represents investors, consumers and whistleblowers (private citizens who report fraudulent practices against the government and share in the recovery of government dollars). The complaint in this action was not filed by Kessler Topaz Meltzer & Check, LLP. For more information about Kessler Topaz Meltzer & Check, LLP please visitwww.ktmc.com.
CONTACT:
Kessler Topaz Meltzer & Check, LLPJames Maro, Jr., Esq.280 King of Prussia RoadRadnor, PA 19087(844) 887-9500 (toll free)info@ktmc.com || COIN EQUITY ALERT: Kessler Topaz Meltzer & Check, LLP Announces that a Securities Fraud Class Action Lawsuit was filed on Behalf of Investors of Coinbase Global Inc.: RADNOR, Pa., Aug. 14, 2021 (GLOBE NEWSWIRE) -- The law firm of Kessler Topaz Meltzer & Check, LLP reminds Coinbase Global Inc. (NASDAQ: COIN) (“Coinbase”) investors that a securities fraud class action lawsuit has been filed in the United States District Court for the Northern District of California against Coinbase on behalf of those who purchased or acquired Coinbase Class A common stock pursuant and/or traceable to the registration statement and prospectus (collectively, the “Offering Materials”) for the resale of up to 114,850,769 shares of its Class A common stock, whereby Coinbase began trading as a public company on or around April 14, 2021 (the “Offering”) . Lead Plaintiff Deadline: September 20, 2021 Website: https://www.ktmc.com/coinbase-global-class-action-lawsuit?utm_source=PR&utm_medium=Link&utm_campaign=coinbase Contact: James Maro, Esq. (484) 270-1453 Toll free (844) 887-9500 According to the complaint, Coinbase “powers the cryptoeconomy,” offering a “trusted platform” for sending and receiving Bitcoin and other digital assets built using blockchain technology to approximately 43 million retail users, 7,000 institutions, and 115,000 ecosystem partners in over 100 countries. On April 14, 2021, Coinbase filed its prospectus on a Form 424B4, which forms part of the registration statement. Coinbase registered for the resale of up to 114,850,769 shares of its Class A common stock by registered shareholders. The complaint alleges that the Offering Materials were false and misleading and omitted to state that, at the time of the Offering: (1) Coinbase required a sizeable cash injection; (2) Coinbase’s platform was susceptible to service-level disruptions, which were increasingly likely to occur as Coinbase scaled its services to a larger user base; and (3) as a result of the foregoing, the defendants’ positive statements about Coinbase’s business, operations, and prospects, were materially misleading and/or lacked a reasonable basis. Story continues Coinbase investors may, no later than September 20, 2021 , seek to be appointed as a lead plaintiff representative of the class through Kessler Topaz Meltzer & Check, LLP, or other counsel, or may choose to do nothing and remain an absent class member. A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. In order to be appointed as a lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class. Communicating with any counsel is not necessary to participate or share in any recovery achieved in this case. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff. Kessler Topaz Meltzer & Check, LLP prosecutes class actions in state and federal courts throughout the country involving securities fraud, breaches of fiduciary duties and other violations of state and federal law. Kessler Topaz Meltzer & Check, LLP is a driving force behind corporate governance reform, and has recovered billions of dollars on behalf of institutional and individual investors from the United States and around the world. The firm represents investors, consumers and whistleblowers (private citizens who report fraudulent practices against the government and share in the recovery of government dollars). The complaint in this action was not filed by Kessler Topaz Meltzer & Check, LLP. For more information about Kessler Topaz Meltzer & Check, LLP please visit www.ktmc.com . CONTACT: Kessler Topaz Meltzer & Check, LLP James Maro, Jr., Esq. 280 King of Prussia Road Radnor, PA 19087 (844) 887-9500 (toll free) info@ktmc.com || Cardano (ADA) Crosses $2 Threshold Ahead of Smart Contract Launch: BeInCrypto – ADA has passed the $2 mark, becoming the third-largest cryptocurrency in the world ahead of its proposed smart contracts launch. Cardano’s ADA has overtaken Tether to become the third-largest cryptocurrency in terms of market cap. The price of ADA currently sits at $2 with a market capitalization of $63.88 billion which marks a 12-week-high. Over the past 24-hours, the price has continued to surge and is up 12% at the time of writing. BTC ($871.61 billion) and ETH ($377.23 billion) make up the top two spots globally while Tether ($63.31 billion) and Binance Coin ($61.27 million) round out the top-five coins. The rush on ADA has been attributed to the upcoming launch of Cardano’s smart contract feature . After Cardano’s founder Charles Hoskinson announced the upcoming debut of a smart contract feature, ADA prices surged 20% from $1.54 to $1.88 on August 11, a two-month high at the time. The spike to over $2 represents an uptick of around 100% from just a few weeks ago on July 20 when the price dipped to around $1. This story was seen first on BeInCrypto Join our Telegram Group and get trading signals, a free trading course and more stories like this on BeInCrypto View comments || Cardano (ADA) Crosses $2 Threshold Ahead of Smart Contract Launch: BeInCrypto –
ADA has passed the $2 mark, becoming the third-largest cryptocurrency in the world ahead of its proposed smart contracts launch.
Cardano’s ADA hasovertaken Tetherto become the third-largest cryptocurrency in terms of market cap. Theprice of ADAcurrently sits at $2 with a market capitalization of $63.88 billion which marks a 12-week-high. Over the past 24-hours, the price has continued to surge and is up 12% at the time of writing. BTC ($871.61 billion) and ETH ($377.23 billion) make up the top two spots globally while Tether ($63.31 billion) and Binance Coin ($61.27 million) round out the top-five coins.
The rush on ADA has been attributed to theupcoming launch of Cardano’s smart contract feature. After Cardano’s founder Charles Hoskinson announced the upcoming debut of a smart contract feature, ADA prices surged 20% from $1.54 to $1.88 on August 11, a two-month high at the time.The spike to over $2represents an uptick of around 100% from just a few weeks ago on July 20 when the price dipped to around $1.
This storywas seen first onBeInCryptoJoin our Telegram Groupand get trading signals, a free trading course and more stories likethisonBeInCrypto || How investors, and everybody, should think about climate change: This photo shows cars and homes destroyed by the Dixie Fire line central Greenville on Thursday, Aug. 5, 2021, in Plumas County, Calif. (AP Photo/Noah Berger) (ASSOCIATED PRESS) Its a great paradox that the two biggest stories of our time are invisible. COVID for one. You cant see it. And thats what makes it difficult to convince, say, 700,000 bikers at the Sturgis Motorcycle Rally in South Dakota this week that they should socially distance, wear masks and get vaccinated. Of course, you do see COVID when the hospital fills up, or your uncle dies. Climate change is the other one. Like COVID, its been hard to get doubters to believe. Evidence was dismissed as "a little heat wave" or "ice melts, so what?" Alarmingly, its now impossible to deny climate change. How else to explain horrific fires all over the world. (And more fires. ) Crazy flooding in Germany and China. Unprecedented heatwaves. ( July was the hottest month ever recorded.) Massive ice sheet shrinkage. Summer fire seasons out West that have become apocalyptic. Fact: Seven out of 10 of Californias largest wildfires occurred within the past decade. And of course, theres a shortage of firefighters. Too much demand, not enough supply. (The job pays around $45,000 a year.) In Maine, where I am currently, smoke from the fires out West and Canada filled the skies recently. Ive been coming up here for 59 years, and Ive only seen that once before. Last summer. This week, the United Nations released a devastating report technically from the Intergovernmental Panel on Climate Change, or IPCC, a body of scientists convened by the U.N. The report is a tome. The whole enchilada is 3,949 pages , with a 42-page summary . But heres the gist of it. (The New York Times has a handy recap :) -Human influence has unequivocally warmed the planet. -Climate science is getting better and more precise. -We are locked into 30 years of worsening climate impacts no matter what the world does. -Climate changes are happening rapidly. -There is still a window in which humans can alter the climate path. The response to the report has been mostly constructive from politicians and business leaders around the globe. There are those though, who see the U.N. as anathema, and pooh-pooh anything emanating from that body. To those people, I simply say this: Forget the U.N. Dont believe a word in that report. Instead, just follow the money. And when you do that, you will see that money flows validate everything in that report. Story continues I look at the U.N. report as a citizen of the world and as a human being with a family. But I also come to it as a financial person. And right now I see a mad, global rush by businesses, large and small, to adapt, to reconfigure and to invest in ways and means that speak to climate change. Just from one glance at headlines this week: Exxon is selling shale gas properties, the Biden administration is pushing electric planes , and energy companies are capping methane leaks to grow business. And on and on. Youd have to be blind not to see this. Risk of falling behind Yahoo Finances Akiko Fujita asked one of the lead authors of the U.N. report, Kim Cobb, a Georgia Tech professor, about what role business can play to fight climate change. I think they have a huge role to play, Cobb says. We need to be looking at aggressive action across every level of society. Federal action is absolutely required, but we need to have action at every institutional level to help us move this forward. Not the least because some of the most important advances that may yet come in helping us to accelerate action will come from public-private partnerships as well as companies that are helping their communities, their employees, their workforce and their stakeholders and shareholders understand what the risks are that we face with ongoing climate change and articulate why it's important to their bottom line that we reduce the coming risks of climate change as well." So for all of these reasons, critically important motivators, Cobb continues, I hope for the private sector to continue to up the ante and raise their ambitions to be a part of this transition and make it as fast as possible. Companies that dont make this transition risk falling behind or having their business models usurped. Consider the $5.8 trillion global insurance industry and the upheaval that climate change is creating there. In fact, lets just look quickly at one piece of it, the U.S. homeowners business. Bottom line: Rates are going up because of climate change . Until recently, this was just a problem primarily facing properties on the Florida coast. Not anymore. Steven Broadhurst (L) and Deacon Junius Shealy stand along the edge of the flood zone at St. Mark Church of Christ after the effects of Hurricane Matthew in Goldsboro, North Carolina, U.S., October 12, 2016. REUTERS/Randall Hill (Randall Hill / reuters) Heres what Ben Madick, CEO of Matic, a digital insurance marketplace with home and auto carriers, had to say: Three years ago, we didn't worry about California. It was one of our best markets. We would have tons of customers and a lot of [insurance] options. [Now] there's less and less options available because of climate change, because of the fires, because of the drought. Madick says more areas have been designated flood zones around the country because of climate change. Rates in Texas are climbing. Ditto for California, up on average by 20% over the past several years. And then theres Madicks personal experience in San Diego. I live four houses away from a sort of nature preserve. It's a pretty small one, but there's trees there, he says. Two insurance carriers said, We don't want to insure your house. We already have too many houses near that same preserve. And then the third one who said, We'll stay there, but it's going to be at three times the price. So my home [insurance] went up by 200%. You could take your chances and "self-insure" (love that euphemism), but probably not if you have a mortgage, which typically requires some kind of coverage. And of course this to-the-moon insurance premium growth is inflationary, a significant second order effect of climate change. Same goes for the effect of extreme weather on food prices and supply chains. To economists, climate change is a type of friction, aka, cost a cost we increasingly will bear. Speaking of economists, a number of other important climate change studies came out recently, and they would have garnered more attention had they not been overshadowed by the mega U.N. report. Lets delve into them. First a Federal Reserve paper , Growth at Risk From Climate Change, by economist Michael Kiley Kileys research shows that increases in temperature correlate with lower economic growth and that those negative outcomes are disproportionately high. In other words, its not just that higher temperatures will on average reduce GDP growth, which they will, its that there will be more frequent and worse economic downturns making really bad growth outcomes more likely. Or as he writes: The results indicate substantially larger effects of temperature on downside risks to economic growth than on the central tendency of economic growth. Translation: Not good. It also appears to be the case that hotter countries, such as Nigeria and India, would suffer more, or again disproportionately from higher temperatures, whereas wealthier, cooler nations like the U.S., Japan and countries in Europe are better equipped to mitigate climate change. That means more suffering by the worlds poor. Thats a bad moral outcome and also a costly one for both poor and probably rich nations too. 'The right thing to do' Interesting that the Fed is considering this, right? In fact other central banks around the world are even more active. The Bank of Japan, in contrast with the Fed, is pushing an active climate change agenda. According to The Wall Street Journal, that includes no-interest loans to commercial banks to support their lending for projects judged to be environmentally friendly and the purchase of green bonds in foreign currencies. The EU is taking similar measures. But Fed chief Jay Powell said in June : We do not seek to be climate policy makers. Ah yes, the Fed doesnt want to be seen picking winners and losers. Well, they are changing their tune a bit when it comes to wealth inequality, which I wrote about recently. Maybe climate change is next. The other scholarly work I referenced is an NBER (National Bureau of Economic Research) working paper titled What do you think about climate finance? by two NYU Stern professors, Johannes Stroebel and Jeffrey Wurgler. The professors surveyed 861 finance academics, professionals, public sector regulators and policy economists about climate finance topics. They found that those respondents believed definitively that financial markets were underpricing the risk of climate change and that pressure from institutional investors is viewed as the most powerful force for change. The least influential force for moving toward a low-carbon economy [was seen to be] voluntary behavior by corporations, Wurgler told me. The major emitters are facing short-termist pressures to do nothing or politically fight back. But institutional investors, if we are to believe these results, are pushing them for change. Wurgler spoke of three motivators when it comes to these investors. There's a performance idea, a doing well by doing good idea, he says. There's another idea of catering to investors [who care about climate], and there's a third idea that, well, this is just the ethically right thing to do for my children and grandchildren, and if returns suffer a little bit, then so be it. But it's the right thing to do. There still is an Attila-the-Hun crowd that takes exception to all this, though not the way it used to. Remember, originally they denied climate change existed. Then they denied it was caused by humans. And now they essentially are saying that, well, maybe it exists and it is due to human behavior but the whole thing is mostly a liberal, government subsidy sham, and the only thing worth doing is a carbon tax and a carbon tax would be impossible to do. So ergo, the conclusion is to do nothing? Thats wrongheaded for more reasons than I can count. It kind of surprises me too, and forgive me if I sound crass, because huge dislocations or problems like climate change always provide for opportunities (again follow the money), which I will get into in a second. But first a word about carbon taxes from Pavan Sukhdev the president of WWF International, one of the world's leading environmental advocacy groups, who I interviewed recently. Sukhdev made the excellent point that governments should impose taxes on companies for their pollution, rather than for the goods that the companies produce. "Frankly, look at what we are doing these days when we tax," he says. We are always taxing the goods and not enough taxing the bads. This doesn't make sense. We should do it the other way around." "When we come to resource usage and resource emissions, basically, pollution and especially the use of the atmosphere, it's a limited space," he adds. "We should be taxing that resource use the resource of the atmosphere but we don't do resource taxation." Let's return to the opportunities theme, though. That's something you're going to be hearing about much more, according to Michael Sonnenfeldt, the founder and chairman of Tiger 21, a network for high-net-worth individuals . "Our members are getting very interested in clean energy, says Sonnenfeldt. They're not looking at the stock price today. They know the clean energy transition, especially with this terrible report that's come out this week, [means] we're going to have to end fossil fuels, decarbonize and completely rewire the utilities of the world. That's trillions and trillions of dollars a year over the next decade and they're trying to play that play more than anything that's going on today or tomorrow." The biggest areas are in the power sector, number one, says Sonnenfeldt. "Utilities that are increasing renewables in the private space. A lot of new renewable companies. [Also] electric vehicle companies, not only Tesla, but Lucid is now out and truck companies. You have the ETFs that are in batteries. One estimate says that there's going to be 25 times the demand for batteries than currently exists. That's going to be a long run. You have TAN, the solar ETF. And of course there are a slew of other green ETFs , as well. And a million more ways to profit from and invest in this, well, megatrend. The business person in me thinks about it this way: Right now climate change is a huge problem. Thousands of people around the world are trying to turn it into a huge opportunity. Sounds like a win-win to me. This article was featured in a Saturday edition of the Morning Brief on August 13, 2021. Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe Andy Serwer is editor-in-chief of Yahoo Finance. Follow him on Twitter: @serwer Should you own (maybe just a little) Bitcoin? How the Federal Reserve can really help America Billionaires pay no taxes while workers get no raises Answering the great inflation question of our time Why the meme stock revolution will last Here's how legal weed will play out in America Read the latest financial and business news from Yahoo Finance Follow Yahoo Finance on Twitter , Facebook , Instagram , Flipboard , LinkedIn , YouTube , and reddit || How investors, and everybody, should think about climate change: It’s a great paradox that the two biggest stories of our time are invisible.
COVID for one. You can’t see it. And that’s what makes it difficult to convince, say, 700,000 bikers at the Sturgis Motorcycle Rally in South Dakota this week that they should socially distance, wear masks and get vaccinated. Of course, you do see COVID when the hospital fills up, or your uncle dies.
Climate change is the other one. Like COVID, it’s been hard to get doubters to believe. Evidence was dismissed as "a little heat wave" or "ice melts, so what?"
Alarmingly, it’s now impossible to deny climate change. How else to explain horrificfires all over the world.(Andmore fires.) Crazy flooding in Germany and China.Unprecedented heatwaves.(July was the hottest month everrecorded.)Massive ice sheet shrinkage.Summer fire seasons out West that have become apocalyptic. Fact: Seven out of 10 of California’s largest wildfiresoccurred within the past decade.And of course, there’sa shortage of firefighters.Too much demand, not enough supply. (The job pays around $45,000 a year.)
In Maine, where I am currently, smoke from the fires out West and Canada filled the skies recently. I’ve been coming up here for 59 years, and I’ve only seen that once before. Last summer.
This week, the United Nations released adevastating report— technically from the Intergovernmental Panel on Climate Change, or IPCC, a body of scientists convened by the U.N. The report is a tome. The whole enchilada is3,949 pages, with a42-page summary.
But here’s the gist of it. (TheNew York Times has a handy recap:)
-Human influence has unequivocally warmed the planet.
-Climate science is getting better and more precise.
-We are locked into 30 years of worsening climate impacts no matter what the world does.
-Climate changes are happening rapidly.
-There is still a window in which humans can alter the climate path.
The response to the report has been mostly constructive from politicians and business leaders around the globe. There are those though, who see the U.N. as anathema, and pooh-pooh anything emanating from that body. To those people, I simply say this: Forget the U.N. Don’t believe a word in that report. Instead, just follow the money. And when you do that, you will see that money flows validate everything in that report.
I look at the U.N. report as a citizen of the world and as a human being with a family. But I also come to it as a financial person. And right now I see a mad, global rush by businesses, large and small, to adapt, to reconfigure and to invest in ways and means that speak to climate change. Just from one glance at headlines this week:Exxon is sellingshale gas properties, the Biden administration ispushing electric planes, and energy companies arecapping methane leaks to grow business.And on and on.
You’d have to be blind not to see this.
Yahoo Finance’s Akiko Fujita asked one of the lead authors of the U.N. report,Kim Cobb, a Georgia Tech professor,about what role business can play to fight climate change.
“I think they have a huge role to play,” Cobb says. “We need to be looking at aggressive action across every level of society. Federal action is absolutely required, but we need to have action at every institutional level to help us move this forward. Not the least because some of the most important advances that may yet come in helping us to accelerate action will come from public-private partnerships as well as companies that are helping their communities, their employees, their workforce and their stakeholders and shareholders understand what the risks are that we face with ongoing climate change and articulate why it's important to their bottom line that we reduce the coming risks of climate change as well."
“So for all of these reasons, critically important motivators,” Cobb continues, “I hope for the private sector to continue to up the ante and raise their ambitions to be a part of this transition and make it as fast as possible.”
Companies that don’t make this transition risk falling behind or having their business models usurped. Consider the$5.8 trillion global insurance industryand the upheaval that climate change is creating there. In fact, let’s just look quickly at one piece of it, the U.S. homeowners business. Bottom line:Rates are going up because of climate change. Until recently, this was just a problem primarily facing properties on the Florida coast. Not anymore.
Here’s what Ben Madick, CEO of Matic, a digital insurance marketplace with home and auto carriers, had to say: “Three years ago, we didn't worry about California. It was one of our best markets. We would have tons of customers and a lot of [insurance] options. [Now] there's less and less options available because of climate change, because of the fires, because of the drought.”
Madick says more areas have been designated flood zones around the country because of climate change. Rates in Texas are climbing. Ditto for California, up on average by 20% over the past several years. And then there’s Madick’s personal experience in San Diego.
“I live four houses away from a sort of nature preserve. It's a pretty small one, but there's trees there,” he says. “Two insurance carriers said, ‘We don't want to insure your house. We already have too many houses near that same preserve.’ And then the third one who said, ‘We'll stay there, but it's going to be at three times the price.’ So my home [insurance] went up by 200%.”
You could take your chances and "self-insure" (love that euphemism), but probably not if you have a mortgage, which typically requires some kind of coverage.
And of course this to-the-moon insurance premium growth is inflationary, a significant second order effect of climate change. Same goes for the effect of extreme weather on food prices and supply chains. To economists, climate change is a type of friction, aka, cost — a cost we increasingly will bear.
Speaking of economists, a number of other important climate change studies came out recently, and they would have garnered more attention had they not been overshadowed by the mega U.N. report.
Let’s delve into them. First aFederal Reserve paper, “Growth at Risk From Climate Change,” by economist Michael Kiley
Kiley’s research shows that increases in temperature correlate with lower economic growth and that those negative outcomes are disproportionately high. In other words, it’s not just that higher temperatures will on average reduce GDP growth, which they will, it’s that there will be more frequent and worse economic downturns — making really bad growth outcomes more likely. Or as he writes: “The results indicate substantially larger effects of temperature on downside risks to economic growth than on the central tendency of economic growth.”
Translation: Not good.
It also appears to be the case that hotter countries, such as Nigeria and India, would suffer more, or again disproportionately from higher temperatures, whereas wealthier, cooler nations like the U.S., Japan and countries in Europe are better equipped to mitigate climate change. That means more suffering by the world’s poor. That’s a bad moral outcome and also a costly one for both poor and probably rich nations too.
Interesting that the Fed is considering this, right? In fact other central banks around the world are even more active.The Bank of Japan, in contrast with the Fed,is pushing an active climate change agenda. According to The Wall Street Journal, that includes “no-interest loans to commercial banks to support their lending for projects judged to be environmentally friendly and the purchase ofgreen bondsin foreign currencies.” The EU is taking similar measures. But Fed chief Jay Powellsaid in June: “We do not seek to be climate policy makers.”
Ah yes, the Fed doesn’t want to be seen picking winners and losers. Well, they are changing their tune a bit when it comes to wealth inequality,which I wrote about recently.Maybe climate change is next.
The other scholarly work I referenced is an NBER (National Bureau of Economic Research) working paper titled “What do you think about climate finance?” by two NYU Stern professors, Johannes Stroebel and Jeffrey Wurgler. The professors surveyed 861 finance academics, professionals, public sector regulators and policy economists about climate finance topics.
They found that those respondents believed definitively that financial markets were underpricing the risk of climate change and that pressure from institutional investors is viewed as the most powerful force for change.
“The least influential force for moving toward a low-carbon economy [was seen to be] voluntary behavior by corporations,” Wurgler told me. “The major emitters are facing short-termist pressures to do nothing or politically fight back. But institutional investors, if we are to believe these results, are pushing them for change.”
Wurgler spoke of three motivators when it comes to these investors. “There's a performance idea, a doing well by doing good idea,” he says. “There's another idea of catering to investors [who care about climate], and there's a third idea that, well, this is just the ethically right thing to do for my children and grandchildren, and if returns suffer a little bit, then so be it. But it's the right thing to do.”
There still is an Attila-the-Hun crowd that takes exception to all this, though not the way it used to. Remember, originally they denied climate change existed. Then they denied it was caused by humans. Andnow they essentially are sayingthat, well, maybe it exists and it is due to human behavior but the whole thing is mostly a liberal, government subsidy sham, and the only thing worth doing is a carbon tax and a carbon tax would be impossible to do.
So ergo, the conclusion is to do nothing?
That’s wrongheaded for more reasons than I can count.
It kind of surprises me too, and forgive me if I sound crass, because huge dislocations or problems like climate change always provide for opportunities (again follow the money), which I will get into in a second.
But first a word about carbon taxes from PavanSukhdev — the president of WWF International, one of the world's leading environmental advocacy groups,who I interviewed recently. Sukhdev made the excellent point that governments should impose taxes on companies for their pollution, rather than for the goods that the companies produce.
"Frankly, look at what we are doing these days when we tax," he says. “We are always taxing the goods and not enough taxing the bads. This doesn't make sense. We should do it the other way around."
"When we come to resource usage and resource emissions, basically, pollution and especially the use of the atmosphere, it's a limited space," he adds. "We should be taxing that resource use — the resource of the atmosphere — but we don't do resource taxation."
Let's return to the opportunities theme, though. That's something you're going to be hearing about much more, according to Michael Sonnenfeldt, the founder and chairman ofTiger 21, a network for high-net-worth individuals.
"Our members are getting very interested in clean energy,” says Sonnenfeldt. “They're not looking at the stock price today. They know the clean energy transition, especially with this terrible report that's come out this week, [means] we're going to have to end fossil fuels, decarbonize and completely rewire the utilities of the world. That's trillions and trillions of dollars a year over the next decade and they're trying to play that play more than anything that's going on today or tomorrow."
“The biggest areas are in the power sector, number one,” says Sonnenfeldt. "Utilities that are increasing renewables in the private space. A lot of new renewable companies. [Also] electric vehicle companies, not only Tesla, but Lucid is now out and truck companies. You have the ETFs that are in batteries. One estimate says that there's going to be 25 times the demand for batteries than currently exists. That's going to be a long run. You have TAN, the solar ETF.”
And of course there are a slew of othergreen ETFs, as well. And a million more ways to profit from and invest in this, well, megatrend. The business person in me thinks about it this way: Right now climate change is a huge problem. Thousands of people around the world are trying to turn it into a huge opportunity.
Sounds like a win-win to me.
This article was featured in a Saturday edition of the Morning Brief on August 13, 2021. Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET.Subscribe
Andy Serwer is editor-in-chief of Yahoo Finance. Follow him on Twitter:@serwer
• Should you own (maybe just a little) Bitcoin?
• How the Federal Reserve can really help America
• Billionaires pay no taxes while workers get no raises
• Answering the great inflation question of our time
• Why the meme stock revolution will last
• Here's how legal weed will play out in America
Read the latest financial and business news from Yahoo Finance
Follow Yahoo Finance onTwitter,Facebook,Instagram,Flipboard,LinkedIn,YouTube, andreddit || TNS Releases Report on 'Did Tesla Push Crypto Currency toward a Transition in Energy Efficient Blockchain Protocol?': NEW YORK, Aug. 14, 2021 (GLOBE NEWSWIRE) -- Recently, Traders News Source (TNS) has released a report on 'Did Tesla Push Crypto Currency toward a Transition in Energy Efficient Blockchain Protocol?'. Traders News Source is a leading independent equity research and corporate access firm focused on finding and reporting on the next hot market sectors and growth stocks is reporting on Tesla's Elon Musk and Bitcoin (BTC). If people follow crypto currency at all they likely remember back in February 2021 when Tesla announced a $1.5 billion investment in Bitcoin and a plan to accept digital currency as payment for electric cars. By mid-April Bitcoin was trading at a level over $64K. Then in mid-May, Tesla, through its CEO Elon Musk, announced it would stop accepting Bitcoin as payment for its electric vehicles citing the rapidly increasing use of fossil fuels for bitcoin mining. It didn't take long for Bitcoin to retreat to the $40K range it had previously been trading at. Read their full report on Elon Musk, Tesla and the crypto currency protocol transition here: Full Report Copy and paste to browser may be required: https://tradersnewssource.com/did-telsa-push-crypto-currency-toward-a-transition-in-energy-efficient-blockchain-protocol/ That statement by Tesla was a wakeup call for many investors and users of Bitcoin. While just about everyone knows about Bitcoin, the blockchain and Bitcoin mining aren't fully understood by many. Mr. Musk is right, it takes massive amounts of energy to facilitate the computers that mine cryptocurrencies on the blockchain. Like most industries, innovation is hitting the crypto currency sector with new blockchain mining protocols that use only a fraction of the energy of the protocol used in Bitcoin and Ethereum, two of the original crypto currencies. See which crypto currencies are using the newer protocol in their full report. Disclosure Traders News Source LLC (TNS) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering small and micro-cap equity markets. TNS has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE, NASDAQ and OTC exchanges. The other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below. Story continues TNS LLC has not been compensated; directly or indirectly; for producing or publishing this document. NO WARRANTY TNS, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake, or shortcoming. No liability is accepted whatsoever for any direct, indirect, or consequential loss arising from the use of this document. TNS, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, TNS, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness, or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice. NOT AN OFFERING This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither TNS nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download their report(s), read their disclosures, or for more information, visit http://www.tradersnewssource.com. For any questions, inquiries, or comments reach out to us directly. If people're a company we are covering and wish to no longer be featured on their coverage list, contact us via email at: editor@tradersnewssource.com CFA ® and Chartered Financial Analyst ® are registered trademarks owned by CFA Institute. Media Contact Company: Traders News Source Contact: Mark Roberts E-mail: editor@tradersnewssource.com Website: https://tradersnewssource.com/ SOURCE: Traders News Source || TNS Releases Report on 'Did Tesla Push Crypto Currency toward a Transition in Energy Efficient Blockchain Protocol?': NEW YORK, Aug. 14, 2021 (GLOBE NEWSWIRE) -- Recently, Traders News Source (TNS) has released a report on 'Did Tesla Push Crypto Currency toward a Transition in Energy Efficient Blockchain Protocol?'. Traders News Source is a leading independent equity research and corporate access firm focused on finding and reporting on the next hot market sectors and growth stocks is reporting on Tesla's Elon Musk and Bitcoin (BTC).
If people follow crypto currency at all they likely remember back in February 2021 when Tesla announced a $1.5 billion investment in Bitcoin and a plan to accept digital currency as payment for electric cars. By mid-April Bitcoin was trading at a level over $64K.
Then in mid-May, Tesla, through its CEO Elon Musk, announced it would stop accepting Bitcoin as payment for its electric vehicles citing the rapidly increasing use of fossil fuels for bitcoin mining. It didn't take long for Bitcoin to retreat to the $40K range it had previously been trading at.
Read their full report on Elon Musk, Tesla and the crypto currency protocol transition here:Full Report
Copy and paste to browser may be required:https://tradersnewssource.com/did-telsa-push-crypto-currency-toward-a-transition-in-energy-efficient-blockchain-protocol/
That statement by Tesla was a wakeup call for many investors and users of Bitcoin. While just about everyone knows about Bitcoin, the blockchain and Bitcoin mining aren't fully understood by many. Mr. Musk is right, it takes massive amounts of energy to facilitate the computers that mine cryptocurrencies on the blockchain.
Like most industries, innovation is hitting the crypto currency sector with new blockchain mining protocols that use only a fraction of the energy of the protocol used in Bitcoin and Ethereum, two of the original crypto currencies. See which crypto currencies are using the newer protocol in their full report.
Disclosure
Traders News Source LLC (TNS) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering small and micro-cap equity markets. TNS has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE, NASDAQ and OTC exchanges. The other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.
TNS LLC has not been compensated; directly or indirectly; for producing or publishing this document.
NO WARRANTY
TNS, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake, or shortcoming. No liability is accepted whatsoever for any direct, indirect, or consequential loss arising from the use of this document. TNS, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, TNS, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness, or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.
NOT AN OFFERING
This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither TNS nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download their report(s), read their disclosures, or for more information, visit http://www.tradersnewssource.com.
For any questions, inquiries, or comments reach out to us directly. If people're a company we are covering and wish to no longer be featured on their coverage list, contact us via email at:editor@tradersnewssource.com
CFA®and Chartered Financial Analyst®are registered trademarks owned by CFA Institute.
Media Contact
Company: Traders News Source
Contact: Mark Roberts
E-mail:editor@tradersnewssource.com
Website:https://tradersnewssource.com/
SOURCE:Traders News Source || The Crypto Daily – Movers and Shakers – August 14th, 2021: Bitcoin, BTC to USD, rallied by 7.70% on Friday. Reversing a 2.43% loss from Thursday, Bitcoin ended the day at $47,835.0.
A mixed start to the day saw Bitcoin fall to an early morning intraday low $44,967.0 before making a move.
Steering clear of the first major support level at $43,411, Bitcoin rallied to a late intraday high $47,967.0.
Bitcoin broke through the first major resistance level at $45,811 and the second major resistance level at $47,199.
Coming up against resistance at $48,000, however, Bitcoin eased back to end the day at $47,800 levels.
The near-term bullish trend remained intact, supported by the latest return to $47,000 levels. For the bears, Bitcoin would need a sustained fall through the 62% FIB of $27,237 to form a near-term bearish trend.
Across the rest of the majors, it was a bullish day on Friday.
Cardano’s ADAled the way, jumping by 16.80%.
Chainlink(+11.38%),Ethereum(+9.10%),Litecoin(+10.81%), andRipple’s XRP(+12.80%) also found strong support.
Binance Coin(+6.53%),Bitcoin Cash SV(+8.04%), andCrypto.com Coin(+5.92%), weren’t far behind, while Polkadot (+1.61%) trailed.
In the current week, the crypto total market fell to a Monday low $1,696bn before rising to a Friday high $1,998bn. At the time of writing, the total market cap stood at $1,973bn.
Bitcoin’s dominance rose to a Monday high 47.44% before falling to a Thursday low 45.03%. At the time of writing, Bitcoin’s dominance stood at 45.43%.
At the time of writing, Bitcoin was down by 0.26% to $47,710.0. A mixed start to the day saw Bitcoin rise to an early morning high $47,855.0 before falling to a low $47,532.0.
Bitcoin left the major support and resistance levels untested early on.
Elsewhere, it was a mixed start to the day.
Crypto.com Coin was up by 3.25% to buck the trend early on.
It was a bearish start for the rest of the pack, however.
At the time of writing, Chainlink was down by 1.23% to lead the way down.
Bitcoin would need to avoid the $46,689 pivot to bring the first major resistance level at $49,113 into play.
Support from the broader market would be needed for Bitcoin to break back through to $49,000 levels.
Barring a broad-based crypto rally, the first major resistance level would likely cap any upside.
In the event of an extended crypto rally, Bitcoin could test resistance at the 23.6% FIB of $50,473 before any pullback. The second major resistance level sits at $50,390.
A fall through the $46,689 pivot would bring the first major support level at $45,412 into play.
Barring an extended sell-off on the day, Bitcoin should steer clear of sub-$45,000 levels. The second major support level sits at $42,988.
Thisarticlewas originally posted on FX Empire
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• Crude Oil Price Forecast – Crude Oil Markets Drift Lower
• Natural Gas Price Prediction – Prices Slide on Profit Taking as Storms Continue to Brew
• Virgin Galactic Shares Tumble After Billionaire Branson’s Selling Spree || The Crypto Daily – Movers and Shakers – August 14th, 2021: Bitcoin , BTC to USD, rallied by 7.70% on Friday. Reversing a 2.43% loss from Thursday, Bitcoin ended the day at $47,835.0. A mixed start to the day saw Bitcoin fall to an early morning intraday low $44,967.0 before making a move. Steering clear of the first major support level at $43,411, Bitcoin rallied to a late intraday high $47,967.0. Bitcoin broke through the first major resistance level at $45,811 and the second major resistance level at $47,199. Coming up against resistance at $48,000, however, Bitcoin eased back to end the day at $47,800 levels. The near-term bullish trend remained intact, supported by the latest return to $47,000 levels. For the bears, Bitcoin would need a sustained fall through the 62% FIB of $27,237 to form a near-term bearish trend. The Rest of the Pack Across the rest of the majors, it was a bullish day on Friday. Cardano’s ADA led the way, jumping by 16.80%. Chainlink (+11.38%), Ethereum (+9.10%), Litecoin (+10.81%), and Ripple’s XRP (+12.80%) also found strong support. Binance Coin (+6.53%), Bitcoin Cash SV (+8.04%), and Crypto.com Coin (+5.92%), weren’t far behind, while Polkadot (+1.61%) trailed. In the current week, the crypto total market fell to a Monday low $1,696bn before rising to a Friday high $1,998bn. At the time of writing, the total market cap stood at $1,973bn. Bitcoin’s dominance rose to a Monday high 47.44% before falling to a Thursday low 45.03%. At the time of writing, Bitcoin’s dominance stood at 45.43%. This Morning At the time of writing, Bitcoin was down by 0.26% to $47,710.0. A mixed start to the day saw Bitcoin rise to an early morning high $47,855.0 before falling to a low $47,532.0. Bitcoin left the major support and resistance levels untested early on. Elsewhere, it was a mixed start to the day. Crypto.com Coin was up by 3.25% to buck the trend early on. It was a bearish start for the rest of the pack, however. At the time of writing, Chainlink was down by 1.23% to lead the way down. Story continues For the Bitcoin Day Ahead Bitcoin would need to avoid the $46,689 pivot to bring the first major resistance level at $49,113 into play. Support from the broader market would be needed for Bitcoin to break back through to $49,000 levels. Barring a broad-based crypto rally, the first major resistance level would likely cap any upside. In the event of an extended crypto rally, Bitcoin could test resistance at the 23.6% FIB of $50,473 before any pullback. The second major resistance level sits at $50,390. A fall through the $46,689 pivot would bring the first major support level at $45,412 into play. Barring an extended sell-off on the day, Bitcoin should steer clear of sub-$45,000 levels. The second major support level sits at $42,988. This article was originally posted on FX Empire More From FXEMPIRE: E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis – Finishing Week Strong after Early Setback Silver Weekly Price Forecast – Silver Markets for Massive Hammer Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – August 14th, 2021 Crude Oil Price Forecast – Crude Oil Markets Drift Lower Natural Gas Price Prediction – Prices Slide on Profit Taking as Storms Continue to Brew Virgin Galactic Shares Tumble After Billionaire Branson’s Selling Spree
[Social Media Buzz]
None available.
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46004.48, 44695.36, 44801.19, 46717.58, 49339.18, 48905.49, 49321.65, 49546.15, 47706.12, 48960.79
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Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 10363.14, 10400.92, 10442.17, 10323.76, 10680.84, 10796.95, 10974.91, 10948.99, 10944.59, 11094.35, 10938.27, 10462.26, 10538.46, 10246.19, 10760.07, 10692.72, 10750.72, 10775.27, 10709.65, 10844.64, 10784.49, 10619.45, 10575.97, 10549.33, 10669.58, 10793.34, 10604.41, 10668.97, 10915.69, 11064.46, 11296.36, 11384.18, 11555.36, 11425.90, 11429.51, 11495.35, 11322.12, 11358.10, 11483.36, 11742.04, 11916.33, 12823.69, 12965.89, 12931.54, 13108.06, 13031.17, 13075.25, 13654.22, 13271.29, 13437.88, 13546.52, 13781.00, 13737.11, 13550.49, 13950.30, 14133.71, 15579.85, 15565.88, 14833.75, 15479.57, 15332.32, 15290.90, 15701.34, 16276.34, 16317.81, 16068.14, 15955.59, 16716.11, 17645.41, 17804.01, 17817.09, 18621.31, 18642.23, 18370.00, 18364.12, 19107.46, 18732.12, 17150.62, 17108.40, 17717.41, 18177.48, 19625.84, 18803.00, 19201.09, 19445.40, 18699.77, 19154.23, 19345.12, 19191.63, 18321.14.
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[Bitcoin Technical Analysis for 2020-12-08]
Volume: 31692288756, RSI (14-day): 53.60, 50-day EMA: 16494.95, 200-day EMA: 12615.88
[Wider Market Context]
Gold Price: 1870.80, Gold RSI: 53.76
Oil Price: 45.60, Oil RSI: 64.10
[Recent News (last 7 days)]
Millennials Are Twice As Likely To Buy Bitcoin Than Gold As Safe-Haven Investment: Unprecedented government stimulus measures, an ongoing global pandemic and a stock market at all-time highs have many investors looking for a safe-haven investment in 2020. The SPDR Gold Trust (NYSE: GLD ) has had a great year in 2020, but a new survey by deVere Group has found twice as many younger investors prefer bitcoin to gold as a store of value. The deVere survey included more than 700 of the company’s millennial clients around the world and found that 67% of them think bitcoin is a superior safe-haven asset to gold. The GLD fund has outpaced the S&P 500 in 2020, gaining 20.1%. However, the Grayscale Bitcoin Trust (OTC: GBTC ) has left gold in the dust this year, gaining 188.5% on the year. Related Link: The Libra Cryptocurrency Rebrands As 'Diem' Millennials Trust Tech: Nigel Green, deVere Group CEO and founder, said the survey suggests bitcoin may ultimately dethrone gold as the world’s preferred safe-haven investment. Green said investors are right to be concerned about central banks around the world flooding the global economies with extra money, and younger investors are increasingly turning to bitcoin to avoid the fallout. “Bitcoin has been around a little more than a decade, but already accounts for more than 3% of gold’s $9 trillion market cap,” Green said. “As the world continues to shift towards tech and as millennials become a more dominant part of the world economy, we should expect Bitcoin to also take an increasingly influential role in financial markets, especially in regard to being a ‘recession-proof’ asset.” Benzinga’s Take: One of the best arguments against bitcoin as a safe-haven investment is its extreme pricing volatility. Bitcoin’s overall performance has been great in the past few years, but its value has risen or fallen by at least 72% in each of the past five years, including a 72.6% drop in 2018. The worst year for gold prices in the past five years was 2018, when prices dropped just 0.9% on the year. Story continues See more from Benzinga Click here for options trades from Benzinga Webull CEO: 'Crypto Is The Gold For The New Generation' UBS Upgrades Boeing, Spirit AeroSystems, Doubles Price Targets © 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Millennials Are Twice As Likely To Buy Bitcoin Than Gold As Safe-Haven Investment: Unprecedented government stimulus measures, an ongoing global pandemic and a stock market at all-time highs have many investors looking for a safe-haven investment in 2020. TheSPDR Gold Trust(NYSE:GLD) has had a great year in 2020, but a new survey bydeVere Grouphas found twice as many younger investors preferbitcointo gold as a store of value.
The deVere survey included more than 700 of the company’s millennial clients around the world and found that 67% of them think bitcoin is a superior safe-haven asset to gold.
The GLD fund has outpaced the S&P 500 in 2020, gaining 20.1%. However, theGrayscale Bitcoin Trust(OTC:GBTC) has left gold in the dust this year, gaining 188.5% on the year.
Related Link:The Libra Cryptocurrency Rebrands As 'Diem'
Millennials Trust Tech:Nigel Green, deVere Group CEO and founder, said the survey suggests bitcoin may ultimately dethrone gold as the world’s preferred safe-haven investment.
Green said investors are right to be concerned about central banks around the world flooding the global economies with extra money, and younger investors are increasingly turning to bitcoin to avoid the fallout.
“Bitcoin has been around a little more than a decade, but already accounts for more than 3% of gold’s $9 trillion market cap,” Green said.
“As the world continues to shift towards tech and as millennials become a more dominant part of the world economy, we should expect Bitcoin to also take an increasingly influential role in financial markets, especially in regard to being a ‘recession-proof’ asset.”
Benzinga’s Take:One of the best arguments against bitcoin as a safe-haven investment is its extreme pricing volatility. Bitcoin’s overall performance has been great in the past few years, but its value has risen or fallen by at least 72% in each of the past five years, including a 72.6% drop in 2018. The worst year for gold prices in the past five years was 2018, when prices dropped just 0.9% on the year.
See more from Benzinga
• Click here for options trades from Benzinga
• Webull CEO: 'Crypto Is The Gold For The New Generation'
• UBS Upgrades Boeing, Spirit AeroSystems, Doubles Price Targets
© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Millennials Are Twice As Likely To Buy Bitcoin Than Gold As Safe-Haven Investment: Unprecedented government stimulus measures, an ongoing global pandemic and a stock market at all-time highs have many investors looking for a safe-haven investment in 2020. TheSPDR Gold Trust(NYSE:GLD) has had a great year in 2020, but a new survey bydeVere Grouphas found twice as many younger investors preferbitcointo gold as a store of value.
The deVere survey included more than 700 of the company’s millennial clients around the world and found that 67% of them think bitcoin is a superior safe-haven asset to gold.
The GLD fund has outpaced the S&P 500 in 2020, gaining 20.1%. However, theGrayscale Bitcoin Trust(OTC:GBTC) has left gold in the dust this year, gaining 188.5% on the year.
Related Link:The Libra Cryptocurrency Rebrands As 'Diem'
Millennials Trust Tech:Nigel Green, deVere Group CEO and founder, said the survey suggests bitcoin may ultimately dethrone gold as the world’s preferred safe-haven investment.
Green said investors are right to be concerned about central banks around the world flooding the global economies with extra money, and younger investors are increasingly turning to bitcoin to avoid the fallout.
“Bitcoin has been around a little more than a decade, but already accounts for more than 3% of gold’s $9 trillion market cap,” Green said.
“As the world continues to shift towards tech and as millennials become a more dominant part of the world economy, we should expect Bitcoin to also take an increasingly influential role in financial markets, especially in regard to being a ‘recession-proof’ asset.”
Benzinga’s Take:One of the best arguments against bitcoin as a safe-haven investment is its extreme pricing volatility. Bitcoin’s overall performance has been great in the past few years, but its value has risen or fallen by at least 72% in each of the past five years, including a 72.6% drop in 2018. The worst year for gold prices in the past five years was 2018, when prices dropped just 0.9% on the year.
See more from Benzinga
• Click here for options trades from Benzinga
• Webull CEO: 'Crypto Is The Gold For The New Generation'
• UBS Upgrades Boeing, Spirit AeroSystems, Doubles Price Targets
© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || NYSE governor: How to trade hot growth stocks in the new 'fast market' paradigm: Hot money flows are heating up some familiar sectors (and a few new ones), as investors pile into electric vehicle names ( TSLA , NIO , XPEV ), along with stocks in the cannabis ( MJ , ACB , APHA ), cloud ( ZM , ZS ), crypto ( BTC-USD , ETH-USD ) and new-IPO ( DASH , ABNB , SNOW ) spaces in a year-end sprint for the green finish line. When a former New York Stock Exchange floor governor, Jay Woods, talks market microstructure, secular trends in liquidity, and implications for modern traders in a year of record-high volatility, investors ought to take notice. When Woods, a Chartered Market Technician (CMT) , throws in an update of the riveting tale of his son (a/k/a, "The Wizard") and his journey into the investing world vís-a-vís a trial-by-fire trade in Tesla ( TSLA ) stock that's prime time webinar material. Woods joins us Tuesday, December 8 at 2:00 p.m. ET ( FREE registration ) for the latest Yahoo Finance Premium webinar. We'll deconstruct the modern markets, taking viewers on a rip roaring blast through the past 30 years and examining how we got sucked into the fastest bear market in history only to soar to fresh all-time highs in the midst of a second pandemic wave. Market Liquidity Trending Lower We'll do a deep dive into the factors affecting market liquidity overtime, such as: Transformation of open outcry to electronic trading High-frequency trading Decimalization Bank regulation (e.g., Dodd-Frank) Easy monetary and fiscal policy We'll explore the Robinhood effects from retail investors clamoring for hot issues and from the brokerage firm selling client order flow, as well as the increased volatility being priced in around the Georgia Senate race runoff elections in early January. And we'll also demonstrate how to unlock maximum value from Yahoo Finance Premium with actionable Investment Ideas, portfolio analysis and risk management. Yahoo Finance Premium banner We're going to kick it all off with a deep dive into Tesla, as investors brace for its first day of trading as a component of the S&P 500 index ( ^GSPC ) on December 21. Story continues Now, more than ever, investors need to shore up on the basics, as markets are increasingly punishing investors who have bad trading habits. Woods breaks down his time-tested market mantras, such as "Know your timeframe. Know your risk." Jared Blikre hosts Yahoo Finance Premium webinars each month. Be sure to follow him on Twitter at @SPYJared to register for the next one on Tuesday, December 8, 2020, and feel free to reach out with any questions. More from Jared: Why Warren Buffett and Stanley Druckenmiller missed the market rally: Trader Webinar: Trading stocks and managing risks in the COVID-19 era Follow Yahoo Finance on Twitter , Facebook , Instagram , Flipboard , SmartNews , LinkedIn , YouTube , and reddit . Find live stock market quotes and the latest business and finance news For tutorials and information on investing and trading stocks, check out Cashay || Former NYSE governor: How to trade hot growth stocks in the new 'fast market' paradigm: Hot money flows are heating up some familiar sectors (and a few new ones), as investors pile into electric vehicle names (TSLA,NIO,XPEV), along with stocks in the cannabis (MJ,ACB,APHA), cloud (ZM,ZS), crypto (BTC-USD,ETH-USD) and new-IPO (DASH,ABNB,SNOW) spaces in a year-end sprint for the green finish line.
When a former New York Stock Exchange floor governor, Jay Woods, talks market microstructure, secular trends in liquidity, and implications for modern traders in a year of record-high volatility, investors ought to take notice. WhenWoods, a Chartered Market Technician (CMT), throws in an update of theriveting tale of his son(a/k/a, "The Wizard") and his journey into the investing world vís-a-vís a trial-by-fire trade in Tesla (TSLA) stock — that's prime time webinar material.
Woods joins us Tuesday, December 8 at 2:00 p.m. ET (FREE registration) for the latestYahoo Finance Premiumwebinar. We'll deconstruct the modern markets, taking viewers on a rip roaring blast through the past 30 years and examining how we got sucked into the fastest bear market in history — only to soar tofresh all-time highsin the midst of a second pandemic wave.
We'll do a deep dive into the factors affecting market liquidity overtime, such as:
• Transformation of open outcry to electronic trading
• High-frequency trading
• Decimalization
• Bank regulation (e.g., Dodd-Frank)
• Easy monetary and fiscal policy
We'll explore the Robinhood effects from retail investors clamoring for hot issues and from the brokerage firm selling client order flow, as well as the increased volatility being priced in around the Georgia Senate race runoff elections in early January. And we'll also demonstrate how to unlock maximum value fromYahoo Finance Premiumwith actionable Investment Ideas, portfolio analysis and risk management.
We're going to kick it all off with a deep dive into Tesla, as investors brace for its first day of trading as a component of the S&P 500 index (^GSPC) on December 21.
Now, more than ever, investors need to shore up on the basics, as markets are increasingly punishing investors who have bad trading habits. Woods breaks down his time-tested market mantras, such as "Know your timeframe. Know your risk."
Jared Blikre hosts Yahoo Finance Premium webinars each month. Be sure to follow him on Twitter at@SPYJaredto register for the next one on Tuesday, December 8, 2020, and feel free to reach out with any questions.
More from Jared:
• Why Warren Buffett and Stanley Druckenmiller missed the market rally: Trader
• Webinar:Trading stocks and managing risks in the COVID-19 era
Follow Yahoo Finance onTwitter,Facebook,Instagram,Flipboard,SmartNews,LinkedIn,YouTube, andreddit.
Find live stock market quotes and the latest business and finance news
For tutorials and information on investing and trading stocks, check outCashay || Market Wrap: Bitcoin Briefly Slips Below $19,000; ETH Locked in DeFi Crosses Over 7M: “Weak longs” might be causing the price to slip in the bitcoin market but ether locked in DeFi is back on the upswing. Bitcoin (BTC) trading around $19,067 as of 21:00 UTC (4 p.m. ET). Slipping 0.68% over the previous 24 hours. Bitcoin’s 24-hour range: $18,923-$19,433 (CoinDesk 20) BTC below its 10-day and 50-day moving averages, a bearish signal for market technicians. A fairly tepid market Monday opened the week, keeping bitcoin’s price in a range betweent $19,200 and $19,400 until traders began hitting the sell button around 18:00 UTC (1 p.m. ET). At that time, the price per 1 BTC went as low as $18,923 and was at $19,067 as of press time, according to CoinDesk 20 data. “The market has come a long way in a relatively short space of time,” said Rupert Douglas, head of institutional sales for brokerage Koine. “Bigger picture, the market is headed higher but I am expecting lower prices first, maybe to around $13,700 to flush out the weak longs at some stage.” Related: Bitcoin Dissidents: Those Who Need It Most “Weak longs” are certainly being shaken out. Over $16 million in sell liquidations on derivatives venue BitMEX occurred over the past three days, which has made up 72% of $22 million total automated margin calls it had over that time period. Much like a margin call, a “sell liquidation” on BitMEX happens when prices fall, forcing leveraged longs to close out their position. While BitMEX’s influence has indeed waned over the course of 2020 due to regulatory quagmires , sell liquidations on the exchange still help reinforce Douglas’ market thesis. “There is a lull in the market as a whole,” said Constantin Kogan, a partner at crypto investment firm Wave Financial and a mega-bull on bitcoin. “MicroStrategy invested another $50 million in bitcoin at a rate above $19,000, so the sentiment is still positive.” Related: Bitcoin News Roundup for Dec. 8, 2020 Story continues Read More: MicroStrategy Buys Additional $50M in Bitcoin “Bitcoin is consolidating under its all-time high resistance with volatility compressing to pre-uptrend levels,” said Cindy Leow, portfolio manager of multi-strategy crypto firm 256 Capital. Indeed, volatility is dipping ever so slightly after a steady upward trend. “We see a return to mean reversion, with bitcoin ranging steadily between $17,000 and $20,000,” Leow added. The last time bitcoin traded at $17,000 was back on Nov. 17, according to CoinDesk 20 data. Cashing out winning positions was the preferred narrative of analysts Friday , and Leow also concurs. “We continue to remain short-term cautious mainly due to potential year-end outflows and seasonal factors,” she said. “We anticipate heavy profit-taking from marked-up books and positions unwinding.” Some rotation into other crypto assets, known colloquially as “alts” and particularly in the Ethereum ecosystem, also seems to be a trend, Leow said. “A neutral scenario is for the rest of the year that we remain within this range while profits from BTC recycle into alts.” ETH locked in DeFi on uptrend, again The second-largest cryptocurrency by market capitalization, ether (ETH), was down Monday, trading around $586 and slipping 1.5% in 24 hours as of 21:00 UTC (4:00 p.m. ET). Read More: Bequant, Global Digital Finance Look to Create Best Practices for DeFi The amount of ether “locked” in decentralized finance (DeFi) is now over 7 million ETH, worth $4.1 billion as of press time. It’s an uptrend in December after a November where total value locked, or TVL, dropped to as low as 6.6 million ether. Analysts say market dynamics are in play as traders clearly had been rotating ether out of DeFi but now seem to be plowing back in. “One contributing factor can be simply that BTC was outperforming ETH in November,” noted Jake Brukhman, chief executive officer of investment firm CoinFund. 256 Capital’s Leow also noted that excitement around DeFi might be back on the upswing. “ While bitcoin rests just shy of all-time highs, DeFi blue-chip tokens are bouncing again on the back of Eth 2.0’s announcements and general market excitement around DeFi partnerships,” Leow told CoinDesk. Other markets Digital assets on the CoinDesk 20 are mixed Monday, mostly red. Notable winners as of 21:00 UTC (4:00 p.m. ET): 0x (ZRX) + 0.78% litecoin (LTC) + 0.69% Notable losers: kyber network (KNC) – 3.4% stellar (XLM) – 3.4% tezos (XTZ) – 3.2% Read More: Blockstack’s Tokens Could Be Tradable in US Amid New Blockchain Launch Equities: Asia’s Nikkei 225 closed in the red 0.76% as losses by Olympus Corp., ANA Holdings, and Kawasaki Kisen Kaisha, all down 5%, dragged the index lower . Europe’s FTSE 100 ended the day flat, in the green 0.08% as the precariousness of ongoing Brexit negotiations kept investors cautious Monday . In the United States the S&P fell 0.40% amid a continuing upward trend in coronavirus cases mixed in with concern regarding when further government stimulus would happen . Commodities: Oil was down 0.90%. Price per barrel of West Texas Intermediate crude: $45.70. Gold was in the green 1.3% and at $1,863 as of press time. Treasurys: The 10-year U.S. Treasury bond yield fell Monday dipping to 0.934 and in the red 3.4%. Related Stories Market Wrap: Bitcoin Briefly Slips Below $19,000; ETH Locked in DeFi Crosses Over 7M Market Wrap: Bitcoin Briefly Slips Below $19,000; ETH Locked in DeFi Crosses Over 7M || Market Wrap: Bitcoin Briefly Slips Below $19,000; ETH Locked in DeFi Crosses Over 7M: “Weak longs” might be causing the price to slip in the bitcoin market but ether locked in DeFi is back on the upswing.
• Bitcoin(BTC) trading around $19,067 as of 21:00 UTC (4 p.m. ET). Slipping 0.68% over the previous 24 hours.
• Bitcoin’s 24-hour range: $18,923-$19,433 (CoinDesk 20)
• BTC below its 10-day and 50-day moving averages, a bearish signal for market technicians.
A fairly tepid market Monday opened the week, keeping bitcoin’s price in a range betweent $19,200 and $19,400 until traders began hitting the sell button around 18:00 UTC (1 p.m. ET). At that time, the price per 1 BTC went as low as $18,923 and was at $19,067 as of press time, according toCoinDesk 20data.
“The market has come a long way in a relatively short space of time,” said Rupert Douglas, head of institutional sales for brokerage Koine. “Bigger picture, the market is headed higher but I am expecting lower prices first, maybe to around $13,700 to flush out the weak longs at some stage.”
Related:Bitcoin Dissidents: Those Who Need It Most
“Weak longs” are certainly being shaken out. Over $16 million in sell liquidations on derivatives venue BitMEX occurred over the past three days, which has made up 72% of $22 million total automated margin calls it had over that time period.
Much like a margin call, a “sell liquidation” on BitMEX happens when prices fall, forcing leveraged longs to close out their position.
WhileBitMEX’s influence has indeed waned over the course of 2020 due to regulatory quagmires, sell liquidations on the exchange still help reinforce Douglas’ market thesis.
“There is a lull in the market as a whole,” said Constantin Kogan, a partner at crypto investment firm Wave Financial and a mega-bull on bitcoin. “MicroStrategy invested another $50 million in bitcoin at a rate above $19,000, so the sentiment is still positive.”
Related:Bitcoin News Roundup for Dec. 8, 2020
Read More:MicroStrategy Buys Additional $50M in Bitcoin
“Bitcoin is consolidating under its all-time high resistance with volatility compressing to pre-uptrend levels,” said Cindy Leow, portfolio manager of multi-strategy crypto firm 256 Capital. Indeed, volatility is dipping ever so slightly after a steady upward trend.
“We see a return to mean reversion, with bitcoin ranging steadily between $17,000 and $20,000,” Leow added. The last time bitcoin traded at $17,000 was back on Nov. 17, according to CoinDesk 20 data.
Cashing out winning positions was the preferred narrative of analysts Friday, and Leow also concurs.
“We continue to remain short-term cautious mainly due to potential year-end outflows and seasonal factors,” she said. “We anticipate heavy profit-taking from marked-up books and positions unwinding.”
Some rotation into other crypto assets, known colloquially as “alts” and particularly in the Ethereum ecosystem, also seems to be a trend, Leow said. “A neutral scenario is for the rest of the year that we remain within this range while profits from BTC recycle into alts.”
The second-largest cryptocurrency by market capitalization,ether(ETH), was down Monday, trading around $586 and slipping 1.5% in 24 hours as of 21:00 UTC (4:00 p.m. ET).
Read More:Bequant, Global Digital Finance Look to Create Best Practices for DeFi
The amount of ether “locked” in decentralized finance (DeFi) is now over 7 million ETH, worth $4.1 billion as of press time. It’s an uptrend in December after a November where total value locked, or TVL, dropped to as low as 6.6 million ether.
Analysts say market dynamics are in play as traders clearly had been rotating ether out of DeFi but now seem to be plowing back in.
“One contributing factor can be simply that BTC was outperforming ETH in November,” noted Jake Brukhman, chief executive officer of investment firm CoinFund.
256 Capital’s Leow also noted that excitement around DeFi might be back on the upswing.“While bitcoin rests just shy of all-time highs, DeFi blue-chip tokens are bouncing again on the back of Eth 2.0’s announcements and general market excitement around DeFi partnerships,” Leow told CoinDesk.
Digital assets on theCoinDesk 20are mixed Monday, mostly red. Notable winners as of 21:00 UTC (4:00 p.m. ET):
• 0x(ZRX) + 0.78%
• litecoin(LTC) + 0.69%
Notable losers:
• kyber network(KNC) – 3.4%
• stellar(XLM) – 3.4%
• tezos(XTZ) – 3.2%
Read More:Blockstack’s Tokens Could Be Tradable in US Amid New Blockchain Launch
Equities:
• Asia’s Nikkei 225 closed in the red 0.76% aslosses by Olympus Corp., ANA Holdings, and Kawasaki Kisen Kaisha, all down 5%, dragged the index lower.
• Europe’s FTSE 100 ended the day flat, in the green 0.08% asthe precariousness of ongoing Brexit negotiations kept investors cautious Monday.
• In the United States the S&P fell 0.40%amid a continuing upward trend in coronavirus cases mixed in with concern regarding when further government stimulus would happen.
Commodities:
• Oil was down 0.90%. Price per barrel of West Texas Intermediate crude: $45.70.
• Gold was in the green 1.3% and at $1,863 as of press time.
Treasurys:
• The 10-year U.S. Treasury bond yield fell Monday dipping to 0.934 and in the red 3.4%.
• Market Wrap: Bitcoin Briefly Slips Below $19,000; ETH Locked in DeFi Crosses Over 7M
• Market Wrap: Bitcoin Briefly Slips Below $19,000; ETH Locked in DeFi Crosses Over 7M || Market Wrap: Bitcoin Briefly Slips Below $19,000; ETH Locked in DeFi Crosses Over 7M: “Weak longs” might be causing the price to slip in the bitcoin market but ether locked in DeFi is back on the upswing.
• Bitcoin(BTC) trading around $19,067 as of 21:00 UTC (4 p.m. ET). Slipping 0.68% over the previous 24 hours.
• Bitcoin’s 24-hour range: $18,923-$19,433 (CoinDesk 20)
• BTC below its 10-day and 50-day moving averages, a bearish signal for market technicians.
A fairly tepid market Monday opened the week, keeping bitcoin’s price in a range betweent $19,200 and $19,400 until traders began hitting the sell button around 18:00 UTC (1 p.m. ET). At that time, the price per 1 BTC went as low as $18,923 and was at $19,067 as of press time, according toCoinDesk 20data.
“The market has come a long way in a relatively short space of time,” said Rupert Douglas, head of institutional sales for brokerage Koine. “Bigger picture, the market is headed higher but I am expecting lower prices first, maybe to around $13,700 to flush out the weak longs at some stage.”
Related:Bitcoin Dissidents: Those Who Need It Most
“Weak longs” are certainly being shaken out. Over $16 million in sell liquidations on derivatives venue BitMEX occurred over the past three days, which has made up 72% of $22 million total automated margin calls it had over that time period.
Much like a margin call, a “sell liquidation” on BitMEX happens when prices fall, forcing leveraged longs to close out their position.
WhileBitMEX’s influence has indeed waned over the course of 2020 due to regulatory quagmires, sell liquidations on the exchange still help reinforce Douglas’ market thesis.
“There is a lull in the market as a whole,” said Constantin Kogan, a partner at crypto investment firm Wave Financial and a mega-bull on bitcoin. “MicroStrategy invested another $50 million in bitcoin at a rate above $19,000, so the sentiment is still positive.”
Related:Bitcoin News Roundup for Dec. 8, 2020
Read More:MicroStrategy Buys Additional $50M in Bitcoin
“Bitcoin is consolidating under its all-time high resistance with volatility compressing to pre-uptrend levels,” said Cindy Leow, portfolio manager of multi-strategy crypto firm 256 Capital. Indeed, volatility is dipping ever so slightly after a steady upward trend.
“We see a return to mean reversion, with bitcoin ranging steadily between $17,000 and $20,000,” Leow added. The last time bitcoin traded at $17,000 was back on Nov. 17, according to CoinDesk 20 data.
Cashing out winning positions was the preferred narrative of analysts Friday, and Leow also concurs.
“We continue to remain short-term cautious mainly due to potential year-end outflows and seasonal factors,” she said. “We anticipate heavy profit-taking from marked-up books and positions unwinding.”
Some rotation into other crypto assets, known colloquially as “alts” and particularly in the Ethereum ecosystem, also seems to be a trend, Leow said. “A neutral scenario is for the rest of the year that we remain within this range while profits from BTC recycle into alts.”
The second-largest cryptocurrency by market capitalization,ether(ETH), was down Monday, trading around $586 and slipping 1.5% in 24 hours as of 21:00 UTC (4:00 p.m. ET).
Read More:Bequant, Global Digital Finance Look to Create Best Practices for DeFi
The amount of ether “locked” in decentralized finance (DeFi) is now over 7 million ETH, worth $4.1 billion as of press time. It’s an uptrend in December after a November where total value locked, or TVL, dropped to as low as 6.6 million ether.
Analysts say market dynamics are in play as traders clearly had been rotating ether out of DeFi but now seem to be plowing back in.
“One contributing factor can be simply that BTC was outperforming ETH in November,” noted Jake Brukhman, chief executive officer of investment firm CoinFund.
256 Capital’s Leow also noted that excitement around DeFi might be back on the upswing.“While bitcoin rests just shy of all-time highs, DeFi blue-chip tokens are bouncing again on the back of Eth 2.0’s announcements and general market excitement around DeFi partnerships,” Leow told CoinDesk.
Digital assets on theCoinDesk 20are mixed Monday, mostly red. Notable winners as of 21:00 UTC (4:00 p.m. ET):
• 0x(ZRX) + 0.78%
• litecoin(LTC) + 0.69%
Notable losers:
• kyber network(KNC) – 3.4%
• stellar(XLM) – 3.4%
• tezos(XTZ) – 3.2%
Read More:Blockstack’s Tokens Could Be Tradable in US Amid New Blockchain Launch
Equities:
• Asia’s Nikkei 225 closed in the red 0.76% aslosses by Olympus Corp., ANA Holdings, and Kawasaki Kisen Kaisha, all down 5%, dragged the index lower.
• Europe’s FTSE 100 ended the day flat, in the green 0.08% asthe precariousness of ongoing Brexit negotiations kept investors cautious Monday.
• In the United States the S&P fell 0.40%amid a continuing upward trend in coronavirus cases mixed in with concern regarding when further government stimulus would happen.
Commodities:
• Oil was down 0.90%. Price per barrel of West Texas Intermediate crude: $45.70.
• Gold was in the green 1.3% and at $1,863 as of press time.
Treasurys:
• The 10-year U.S. Treasury bond yield fell Monday dipping to 0.934 and in the red 3.4%.
• Market Wrap: Bitcoin Briefly Slips Below $19,000; ETH Locked in DeFi Crosses Over 7M
• Market Wrap: Bitcoin Briefly Slips Below $19,000; ETH Locked in DeFi Crosses Over 7M || MicroStrategy Plans $400M Raise; Net Proceeds Will Fund More Bitcoin Buys: MicroStrategy said Monday it plans to sell up to $400 million in a convertible senior notes offering that will likely fund yet more bitcoin allocations.
• The business intelligence company said in a press release it will “invest the net proceeds from the sale inbitcoinin accordance with its Treasury Reserve” after first making way for business expenses.
• Only “qualified institutional buyers” will be permitted to buy the interest-bearing notes, which mature in five years. MicroStrategy can convert the notes into cash, class A shares or a combination of the two starting in December 2023.
• Last week, Chief Executive Michael Saylor expanded MicroStrategy’s bitcoin treasury reserve to 40,824 bitcoins.
• MicroStrategy Plans $400M Raise; Net Proceeds Will Fund More Bitcoin Buys
• MicroStrategy Plans $400M Raise; Net Proceeds Will Fund More Bitcoin Buys
• MicroStrategy Plans $400M Raise; Net Proceeds Will Fund More Bitcoin Buys
• MicroStrategy Plans $400M Raise; Net Proceeds Will Fund More Bitcoin Buys || MicroStrategy Plans $400M Raise; Net Proceeds Will Fund More Bitcoin Buys: MicroStrategy said Monday it plans to sell up to $400 million in a convertible senior notes offering that will likely fund yet more bitcoin allocations.
• The business intelligence company said in a press release it will “invest the net proceeds from the sale inbitcoinin accordance with its Treasury Reserve” after first making way for business expenses.
• Only “qualified institutional buyers” will be permitted to buy the interest-bearing notes, which mature in five years. MicroStrategy can convert the notes into cash, class A shares or a combination of the two starting in December 2023.
• Last week, Chief Executive Michael Saylor expanded MicroStrategy’s bitcoin treasury reserve to 40,824 bitcoins.
• MicroStrategy Plans $400M Raise; Net Proceeds Will Fund More Bitcoin Buys
• MicroStrategy Plans $400M Raise; Net Proceeds Will Fund More Bitcoin Buys
• MicroStrategy Plans $400M Raise; Net Proceeds Will Fund More Bitcoin Buys
• MicroStrategy Plans $400M Raise; Net Proceeds Will Fund More Bitcoin Buys || MicroStrategy Plans $400M Raise; Net Proceeds Will Fund More Bitcoin Buys: MicroStrategy said Monday it plans to sell up to $400 million in a convertible senior notes offering that will likely fund yet more bitcoin allocations. The business intelligence company said in a press release it will “invest the net proceeds from the sale in bitcoin in accordance with its Treasury Reserve” after first making way for business expenses. Only “qualified institutional buyers” will be permitted to buy the interest-bearing notes, which mature in five years. MicroStrategy can convert the notes into cash, class A shares or a combination of the two starting in December 2023. Last week, Chief Executive Michael Saylor expanded MicroStrategy’s bitcoin treasury reserve to 40,824 bitcoins. Related Stories MicroStrategy Plans $400M Raise; Net Proceeds Will Fund More Bitcoin Buys MicroStrategy Plans $400M Raise; Net Proceeds Will Fund More Bitcoin Buys MicroStrategy Plans $400M Raise; Net Proceeds Will Fund More Bitcoin Buys MicroStrategy Plans $400M Raise; Net Proceeds Will Fund More Bitcoin Buys || Blockchain-Based Immunity Passports Don’t Resolve Core Privacy Issues: Report: Existing decentralized digital identity standards are vulnerable to compromise and do not have privacy at their core: This is the central argument posed by anew paperpresented by Harry Halpin, a visiting professor at research university KU Leuven, at the Mozilla-hosted Security Standardization Research Conference (SSR20).
Proposals for vaccine or immunity passports, which would tie a person’s movements to their COVID-19 immunity status, have resurfaced with promising news about vaccines. The International Air Transport Association (IATA)announcedit’s “in the final development phase” of a digital passport app that would receive and verify if someone has received a COVID-19 vaccine. The app would purportedlyuse blockchain technologyto authenticate data without storing in a centralized manner. Meanwhile, the World Health Organization islooking at possible “e-vaccination certificates”for travel.
“Identity systems based on globally unique identifiers are by nature against privacy, and putting them on a blockchain does not change this fundamental dichotomy,” said Halpin, the author of the paper “Vision: A Critique of Immunity Passports and W3C Decentralized Identifiers” and the CEO of NYM, a privacy startup developing a mixnet.
Related:Cryptocurrency Advised by Signal Founder Goes Live, Begins Trading on FTX
“In fact, putting this data on a blockchain tends to make privacy problems worse, and it’s not clear that hand-waving about zero-knowledge proofs really changes the situation.”
The idea of immunity passports has been around for months. The idea is that if someone had COVID-19, they would be immune for a period of time and could have their status verified digitally. The concerns with such proposals are numerous, including the ways such sensitive information is stored, how it’s verified and how it curtails or impacts upon people’s rights.
Countries such as Chile and El Salvador have, in fact, pursued such measures. Chile’s passes, for example, exempt fromquarantinethose who have recovered from COVID-19 or tested positive for the presence of antibodies, letting them return to work, according tothe Washington Post. Residents of Chile could apply for these passports if they haven’t shown symptoms for the disease and they’re willing to be tested.
The ID2020 Alliance, a public-private partnership with partners including Microsoft, Accenture and Hyperledger, has alreadybegun to certifysome ID proposals as a “good ID” to offer to governments. A certification means the technology complies with 41technical requirementsput forward by ID2020.
Related:Privacy Concerns Over Bitcoin Upgrade Taproot Are a 'Non-Issue,' Experts Say
Read more:Immunity Passes Explained: Should We Worry About Privacy?
TheCOVID-19 Credentials Initiative (CCI)is another group composed of more than 300 people from 100 organizations looking to “deploy and/or help to deploy privacy-preserving verifiable credential projects in order to mitigate the spread of COVID-19 and strengthen our societies and economies.” The project looks for instances where Verifiable Credentials (VCs), the digital equivalent of a driver’s license, could be used to address the public health crisis. At their heart, VCs show the minimum amount of information an entity might need to allow them, say, access to a workspace amid a pandemic, while limiting which other kinds of information are shared.
Vaccines present both a new opportunity as well as new questions regarding data privacy and sensitivity when it comes to any form of pass. But as Halpin notes in the paper, “the most prominent immunity passport schemes have involved a stack of little-known standards, such as Decentralized Identifiers (DIDs) and Verifiable Credentials (VCs) from the World Wide Web Consortium (W3C).”
Halpin argues that immunity credentials “are possibly dangerous as immunity credential holders could become an ‘immunity elite’ with increased social stratification from those without certificates, violating existing laws on discrimination in many countries.”
For example, it’s not hard to imagine wealthy populations being the first to access newly approved vaccines, receive immunity passports or certificates, and therefore gain access to the travel, work and other benefits it would incur.
The World Wide Web Consortium (W3C), a membership-driven standards body, has laid out the standards for DIDs and VCs, upon which many of these privacy-preserving proposals are based. The body is also known for such standards as the early versions of HTML. Halpin contends these standards are flawed in claiming they preserve privacy.
Generally, a digital identity is seen as a unique identifier connected to a set of variables, like a person’s name, citizenship or, in this case, immunity status. A goal of many companies in the blockchain space is the creation of a “self-sovereign identity,” which gives people the ability to control the way their identifiers can be accessed by others, without giving up their personal identity or information, as opposed to relying on a centralized government or company.
Read more:From Australia to Norway, Contact Tracing Is Struggling to Meet Expectations
Think of it a bit as abitcoinwallet address, which lets a user pay you without ever having to know your name, for example. Compare this transaction to sending money to someone’s bank account: The bank needs to know both who you are as well as the individual to whom you’re sending money.
A core part of resolving this problem was that it seemed a central database was needed to resolve or verify these unique identifiers. Blockchain technology seemingly resolved this need by letting information be stored in a decentralized manner, and prompted a resurgence of interest, along with W3C to put forth standards for this idea.
At the core of Halpin’s critique of VCs is that they are made for data integration rather than privacy. The standards can be based on the Semantic Web (an extension of the internet based on standards set by the W3C), with the goal of making data readable by machines.
The details of the argument are quite technical but hit on a couple of key points. One is that W3C VCs are basically just signed digital documents. They use a serialization, or the process by which code and data is converted into a form where it can be transmitted, whose only use case is data fusion. Data fusion is the process of integrating data from multiple sources.
In other words, on a technical level, the standards data model isn’t built with privacy at its core. Instead, it’s an optional add-on.
“The Semantic Web is useful for data fusion across databases, which is useful for open public data,” said Halpin. “When you combine the Semantic Web with personal data and globally unique identifiers like DIDs, it conceivably could be used in use cases like tracking down immigrants by the [U.S.] Department of Homeland Security. I honestly can’t see any reason why corona test results would be attached to a DID, and the only answer that seems plausible is dangerous data fusion with other sensitive data by governments.”
Read more:COVID-19 ‘Immunity Passport’ Unites 60 Firms on Self-Sovereign ID Project
DHS hasawarded a contracttoDigital Bazaarto work on the W3C digital identity standards.
Halpin writes that this model based on data integration can be exploited by signature exclusion and signature replacement attacks. In such an attack, a bad actor removes the signature of a signed message or digital document, and replaces it with another signature, thereby tricking a verifier into accepting the invalid message as valid.
What this means is VCs could be tricked into showing they’ve been verified when they are not. In the case of an immunity passport or certificate, this means someone could have such a document verified as accurate when it could be incorrect or even completely fabricated.
Elizabeth Renieris is a data privacy lawyer and a Technology & Human Rights Fellow at the Carr Center for Human Rights Policy at the Harvard Kennedy School in Cambridge, Mass. She previouslyco-authored a paperaround the ethical, social and technical concerns around COVID-19 immunity passports andresignedfrom the technical advisory board of ID2020 over concerns about the organization’s direction.
According to Renieris, the biggest problem with the DID specifications is they are just a data format, something that’s poorly understood by the community and for profit companies pushing this narrative.
“It does not embed any security protocols or access controls and there is no way to prove that the holder of a credential is even the subject of that credential,” she said in an email. “This opens the door to massive fraud.”
Halpin argues that DIDs are also, by nature, contradictory to privacy. At the heart of arguments about privacy is how to link one entity to an action. If the goal of an adversary is to identify you, then assigning you a globally unique identifier that is reused makes uncovering your identity much easier.
Read more:‘Decentralized ID at All Costs’: Adviser Quits ID2020 Over Blockchain Fixation
“If you don’t use a ‘Globally Unique Identifier’ (GUID), you can still get connected to your actions online, it’s just a GUID makes it easier,” said Halpin in a message. “A cookie in a browser like Google is a unique identifier that Google assigns to you to link your actions across web pages. With DIDs, you just gave a cookie any company can use. That’s fine for some use cases but probably not for sensitive medical data.”
The arguments for decentralization and the benefits of blockchain also start to come apart at the seams when considering the permissioned ledgers and centralized servers involved, according to Renieris.
The appeal of blockchain technology is its decentralized nature, immutability and pseudonymous hashes.
But in practical use cases, argues Halpin, it doesn’t fix flaws with the underlying DID and VC standards. Instead, it introduces additional complexities and vulnerabilities.
For example, a paper published in June 2020 laid out a concrete proposal for immunity passports, titled“COVID-19 Antibody Test/Vaccination Certification: There’s an app for that.”It describes a distributed ledger called OpenEthereum, a fork of Ethereum by the Open University and run by a consortium.
“In contrast to Ethereum but similar to other DID-based chains like Sovrin, it is based on “proof-of-authority” (i.e., a permissioned blockchain where any validator or quorum of validators may write to the chain, but not other actors like users),” writes Halpin.
Users of the proposed app could choose where to store their data, allegedly revoke their data and delete it if they chose, and store personal information in a hash.
Halpin lays out a number of ways in which these claims leave much to be desired. Letting people choose where to store their data means they could put it on insecure devices such as their smartphones. There is no guarantee data won’t be copied by other systems. And, finally, the system’s data structure creates problems for scaling it, according to Halpin.
“The most concrete immunity passport proposal dangerously puts the hash of personal data on the blockchain. Even the use of blockchain technology by specifying resolution of an on-chain mapping of an identifier to a key in systems like Sovrin ends up being a redirect to centralized servers, undermining a claim of the blockchain promoting decentralization,” wrote Halpin.
“As the use of blockchain technology does not seem necessary for the goals of the immunity passports and likely hinders rather than helps privacy, immunity passports – and more widely both W3C DIDs and VCs – use blockchain for blockchain’s sake.”
Privacy needs to be at the core of such systems, not an optional afterthought, he said.
• Blockchain-Based Immunity Passports Don’t Resolve Core Privacy Issues: Report
• Blockchain-Based Immunity Passports Don’t Resolve Core Privacy Issues: Report || Blockchain-Based Immunity Passports Don’t Resolve Core Privacy Issues: Report: Existing decentralized digital identity standards are vulnerable to compromise and do not have privacy at their core: This is the central argument posed by a new paper presented by Harry Halpin, a visiting professor at research university KU Leuven, at the Mozilla-hosted Security Standardization Research Conference (SSR20). Proposals for vaccine or immunity passports, which would tie a person’s movements to their COVID-19 immunity status, have resurfaced with promising news about vaccines. The International Air Transport Association (IATA) announced it’s “in the final development phase” of a digital passport app that would receive and verify if someone has received a COVID-19 vaccine. The app would purportedly use blockchain technology to authenticate data without storing in a centralized manner. Meanwhile, the World Health Organization is looking at possible “e-vaccination certificates” for travel. “Identity systems based on globally unique identifiers are by nature against privacy, and putting them on a blockchain does not change this fundamental dichotomy,” said Halpin, the author of the paper “Vision: A Critique of Immunity Passports and W3C Decentralized Identifiers” and the CEO of NYM, a privacy startup developing a mixnet. Related: Cryptocurrency Advised by Signal Founder Goes Live, Begins Trading on FTX “In fact, putting this data on a blockchain tends to make privacy problems worse, and it’s not clear that hand-waving about zero-knowledge proofs really changes the situation.” Vaccine or immunity passports The idea of immunity passports has been around for months. The idea is that if someone had COVID-19, they would be immune for a period of time and could have their status verified digitally. The concerns with such proposals are numerous, including the ways such sensitive information is stored, how it’s verified and how it curtails or impacts upon people’s rights. Countries such as Chile and El Salvador have, in fact, pursued such measures. Chile’s passes, for example, exempt from quarantine those who have recovered from COVID-19 or tested positive for the presence of antibodies, letting them return to work, according to the Washington Post . Residents of Chile could apply for these passports if they haven’t shown symptoms for the disease and they’re willing to be tested. The ID2020 Alliance , a public-private partnership with partners including Microsoft, Accenture and Hyperledger, has already begun to certify some ID proposals as a “good ID” to offer to governments. A certification means the technology complies with 41 technical requirements put forward by ID2020. Story continues Related: Privacy Concerns Over Bitcoin Upgrade Taproot Are a 'Non-Issue,' Experts Say Read more: Immunity Passes Explained: Should We Worry About Privacy? The COVID-19 Credentials Initiative (CCI) is another group composed of more than 300 people from 100 organizations looking to “deploy and/or help to deploy privacy-preserving verifiable credential projects in order to mitigate the spread of COVID-19 and strengthen our societies and economies.” The project looks for instances where Verifiable Credentials (VCs), the digital equivalent of a driver’s license, could be used to address the public health crisis. At their heart, VCs show the minimum amount of information an entity might need to allow them, say, access to a workspace amid a pandemic, while limiting which other kinds of information are shared. Vaccines present both a new opportunity as well as new questions regarding data privacy and sensitivity when it comes to any form of pass. But as Halpin notes in the paper, “the most prominent immunity passport schemes have involved a stack of little-known standards, such as Decentralized Identifiers (DIDs) and Verifiable Credentials (VCs) from the World Wide Web Consortium (W3C).” Halpin argues that immunity credentials “are possibly dangerous as immunity credential holders could become an ‘immunity elite’ with increased social stratification from those without certificates, violating existing laws on discrimination in many countries.” For example, it’s not hard to imagine wealthy populations being the first to access newly approved vaccines, receive immunity passports or certificates, and therefore gain access to the travel, work and other benefits it would incur. Decentralized Identifiers, Verifiable Credentials and W3C The World Wide Web Consortium (W3C), a membership-driven standards body, has laid out the standards for DIDs and VCs, upon which many of these privacy-preserving proposals are based. The body is also known for such standards as the early versions of HTML. Halpin contends these standards are flawed in claiming they preserve privacy. Generally, a digital identity is seen as a unique identifier connected to a set of variables, like a person’s name, citizenship or, in this case, immunity status. A goal of many companies in the blockchain space is the creation of a “self-sovereign identity,” which gives people the ability to control the way their identifiers can be accessed by others, without giving up their personal identity or information, as opposed to relying on a centralized government or company. Read more: From Australia to Norway, Contact Tracing Is Struggling to Meet Expectations Think of it a bit as a bitcoin wallet address, which lets a user pay you without ever having to know your name, for example. Compare this transaction to sending money to someone’s bank account: The bank needs to know both who you are as well as the individual to whom you’re sending money. A core part of resolving this problem was that it seemed a central database was needed to resolve or verify these unique identifiers. Blockchain technology seemingly resolved this need by letting information be stored in a decentralized manner, and prompted a resurgence of interest, along with W3C to put forth standards for this idea. VCs and DIDs: Largely about data integration At the core of Halpin’s critique of VCs is that they are made for data integration rather than privacy. The standards can be based on the Semantic Web (an extension of the internet based on standards set by the W3C), with the goal of making data readable by machines. The details of the argument are quite technical but hit on a couple of key points. One is that W3C VCs are basically just signed digital documents. They use a serialization, or the process by which code and data is converted into a form where it can be transmitted, whose only use case is data fusion. Data fusion is the process of integrating data from multiple sources. In other words, on a technical level, the standards data model isn’t built with privacy at its core. Instead, it’s an optional add-on. “The Semantic Web is useful for data fusion across databases, which is useful for open public data,” said Halpin. “When you combine the Semantic Web with personal data and globally unique identifiers like DIDs, it conceivably could be used in use cases like tracking down immigrants by the [U.S.] Department of Homeland Security. I honestly can’t see any reason why corona test results would be attached to a DID, and the only answer that seems plausible is dangerous data fusion with other sensitive data by governments.” Read more: COVID-19 ‘Immunity Passport’ Unites 60 Firms on Self-Sovereign ID Project DHS has awarded a contract to Digital Bazaar to work on the W3C digital identity standards. Halpin writes that this model based on data integration can be exploited by signature exclusion and signature replacement attacks. In such an attack, a bad actor removes the signature of a signed message or digital document, and replaces it with another signature, thereby tricking a verifier into accepting the invalid message as valid. What this means is VCs could be tricked into showing they’ve been verified when they are not. In the case of an immunity passport or certificate, this means someone could have such a document verified as accurate when it could be incorrect or even completely fabricated. Growing dissent Elizabeth Renieris is a data privacy lawyer and a Technology & Human Rights Fellow at the Carr Center for Human Rights Policy at the Harvard Kennedy School in Cambridge, Mass. She previously co-authored a paper around the ethical, social and technical concerns around COVID-19 immunity passports and resigned from the technical advisory board of ID2020 over concerns about the organization’s direction. According to Renieris, the biggest problem with the DID specifications is they are just a data format, something that’s poorly understood by the community and for profit companies pushing this narrative. “It does not embed any security protocols or access controls and there is no way to prove that the holder of a credential is even the subject of that credential,” she said in an email. “This opens the door to massive fraud.” Halpin argues that DIDs are also, by nature, contradictory to privacy. At the heart of arguments about privacy is how to link one entity to an action. If the goal of an adversary is to identify you, then assigning you a globally unique identifier that is reused makes uncovering your identity much easier. Read more: ‘Decentralized ID at All Costs’: Adviser Quits ID2020 Over Blockchain Fixation “If you don’t use a ‘Globally Unique Identifier’ (GUID), you can still get connected to your actions online, it’s just a GUID makes it easier,” said Halpin in a message. “A cookie in a browser like Google is a unique identifier that Google assigns to you to link your actions across web pages. With DIDs, you just gave a cookie any company can use. That’s fine for some use cases but probably not for sensitive medical data.” Blockchain doesn’t fix this The arguments for decentralization and the benefits of blockchain also start to come apart at the seams when considering the permissioned ledgers and centralized servers involved, according to Renieris. The appeal of blockchain technology is its decentralized nature, immutability and pseudonymous hashes. But in practical use cases, argues Halpin, it doesn’t fix flaws with the underlying DID and VC standards. Instead, it introduces additional complexities and vulnerabilities. For example, a paper published in June 2020 laid out a concrete proposal for immunity passports, titled “COVID-19 Antibody Test/Vaccination Certification: There’s an app for that.” It describes a distributed ledger called OpenEthereum, a fork of Ethereum by the Open University and run by a consortium. “In contrast to Ethereum but similar to other DID-based chains like Sovrin, it is based on “proof-of-authority” (i.e., a permissioned blockchain where any validator or quorum of validators may write to the chain, but not other actors like users),” writes Halpin. Users of the proposed app could choose where to store their data, allegedly revoke their data and delete it if they chose, and store personal information in a hash. Halpin lays out a number of ways in which these claims leave much to be desired. Letting people choose where to store their data means they could put it on insecure devices such as their smartphones. There is no guarantee data won’t be copied by other systems. And, finally, the system’s data structure creates problems for scaling it, according to Halpin. “The most concrete immunity passport proposal dangerously puts the hash of personal data on the blockchain. Even the use of blockchain technology by specifying resolution of an on-chain mapping of an identifier to a key in systems like Sovrin ends up being a redirect to centralized servers, undermining a claim of the blockchain promoting decentralization,” wrote Halpin. “As the use of blockchain technology does not seem necessary for the goals of the immunity passports and likely hinders rather than helps privacy, immunity passports – and more widely both W3C DIDs and VCs – use blockchain for blockchain’s sake.” Privacy needs to be at the core of such systems, not an optional afterthought, he said. Related Stories Blockchain-Based Immunity Passports Don’t Resolve Core Privacy Issues: Report Blockchain-Based Immunity Passports Don’t Resolve Core Privacy Issues: Report View comments || Odysee aims to build a more freewheeling, independent video platform: Odysee is a new video site that CEO Jeremy Kauffman said was created to recapture some of the freedom and independence of the internet he grew up with — an internet where "anyone could speak and anyone could have a voice." Kauffman argued that since then, the internet has become "very corporate," with a small number of companies controlling the flow of information. Odysee was created to provide an alternative — and eventually, more than that. "Some would call it an alternative to YouTube," he said. "We like to think it’s the successor." The site was created by the team behind the Lbry (pronounced "library") blockchain protocol. Kauffman emphasized that neither Odysee creators nor their viewers need to know anything about the technology ("blockchain is a how, it's not a why"), but he said this approach gives those creators more direct control of their content and their audience. As Kauffman put it, "Your channel exists, effectively, in a cryptocurrency wallet that you can download." The Lbry website offers a few more details : "For the same reasons that nobody can prevent a Bitcoin transaction from taking place, nobody can prevent a transaction (like a publication or a tip) from appearing on the LBRY blockchain." The Odysee website sits on top of this protocol. While anyone could, in theory, publish anything to the Lbry blockchain, Odysee restricts content based on a handful of community guidelines that prohibit things like pornography and content that promotes violence or terrorism. YouTube suspends and demonetizes One America News Network over COVID-19 video Still, Kauffman said, "We do think that YouTube is far too strict." As an example, he pointed to the Google-owned platform's decision to remove an interview with the Trump administration's pandemic advisor Scott Atlas in which he questioned social distancing and stay-at-home orders. (Dr. Atlas resigned from his position in the administration last week.) Story continues "Strict" is not exactly the word I'd use to describe YouTube's moderation policies, and I'd also argue that it's a good thing that the big digital platforms are being (somewhat) more proactive in blocking or at least labeling misinformation around high-stakes topics like the COVID-19 pandemic, or President Trump's efforts to de-legitimize his defeat in the November election . Kauffman countered that in the Atlas example, "You don't delete the video. That's not how science progresses." And while loudly declaring your dedication to "free speech" has increasingly served as a euphemism for attracting right-wing content and users , Kauffman said that's not his aim. ‘Free speech’ social network Parler tops app store rankings following Biden’s election win "We want to be a space where all voices can be heard," he said. There's also a compelling argument that the big platforms simply have too much power , so regardless of your opinion on any particular platform or decision, you could see Odysee as an attempt to return that power to individual creators. Plus, politics only represents one slice of what's being published on the site. "If you want to go watch 'The Daily Show' or Gordon Ramsay clips, go to YouTube," Kauffman said. "If you want to watch this crazy, trippy video that a 19-year-old made in their house but it’s super interesting, that’s the kind of stuff that you can find on Odysee." Not that Odysee necessarily expects creators to post exclusively to the site, as Upper Echelon Gamers acknowledged in a statement: The greatest draw for me to Odysee was an automated second library of content that can build on its own without increasing my workload. Combine that with a much clearer monetization formula, and far more responsive communication with the administration and you have a platform that is very exciting to work with. Odysee officially launched this month, but it says that since the beta version went live in September, more than 400,000 people have posted a total of 5 million videos to the site, which is already attracting 8.7 million monthly active users. The plan is to eventually make money from advertising, with creators given full control over how they monetize. Individual viewers, meanwhile, will also be able to pay to skip ads, even if it's just for one video. YouTube removes ads from, but won’t pull, ‘Trump Won’ video following backlash || Odysee aims to build a more freewheeling, independent video platform: Odyseeis a new video site that CEO Jeremy Kauffman said was created to recapture some of the freedom and independence of the internet he grew up with — an internet where "anyone could speak and anyone could have a voice."
Kauffman argued that since then, the internet has become "very corporate," with a small number of companies controlling the flow of information. Odysee was created to provide an alternative — and eventually, more than that.
"Some would call it an alternative to YouTube," he said. "We like to think it’s the successor."
The site was created by the team behind theLbry(pronounced "library") blockchain protocol. Kauffman emphasized that neither Odysee creators nor their viewers need to know anything about the technology ("blockchain is a how, it's not a why"), but he said this approach gives those creators more direct control of their content and their audience. As Kauffman put it, "Your channel exists, effectively, in a cryptocurrency wallet that you can download."
The Lbry websiteoffers a few more details: "For the same reasons that nobody can prevent a Bitcoin transaction from taking place, nobody can prevent a transaction (like a publication or a tip) from appearing on the LBRY blockchain."
The Odysee website sits on top of this protocol. While anyone could, in theory, publish anything to the Lbry blockchain, Odysee restricts content based ona handful of community guidelinesthat prohibit things like pornography and content that promotes violence or terrorism.
YouTube suspends and demonetizes One America News Network over COVID-19 video
Still, Kauffman said, "We do think that YouTube is far too strict." As an example, he pointed to the Google-owned platform's decision toremove an interview with the Trump administration's pandemic advisor Scott Atlasin which he questioned social distancing and stay-at-home orders. (Dr. Atlasresigned from his positionin the administration last week.)
"Strict" is not exactly the word I'd use to describe YouTube's moderation policies, and I'd also argue that it's a good thing that the big digital platforms are being (somewhat) more proactive in blocking or at least labeling misinformation around high-stakes topics like the COVID-19 pandemic, or President Trump's efforts tode-legitimize his defeat in the November election.
Kauffman countered that in the Atlas example, "You don't delete the video. That's not how science progresses."
And while loudly declaring your dedication to "free speech" has increasingly served asa euphemism for attracting right-wing content and users, Kauffman said that's not his aim.
‘Free speech’ social network Parler tops app store rankings following Biden’s election win
"We want to be a space where all voices can be heard," he said.
There's also a compelling argument that the big platformssimply have too much power, so regardless of your opinion on any particular platform or decision, you could see Odysee as an attempt to return that power to individual creators.
Plus, politics only represents one slice of what's being published on the site.
"If you want to go watch 'The Daily Show' or Gordon Ramsay clips, go to YouTube," Kauffman said. "If you want to watch this crazy, trippy video that a 19-year-old made in their house but it’s super interesting, that’s the kind of stuff that you can find on Odysee."
Not that Odysee necessarily expects creators to post exclusively to the site, asUpper Echelon Gamersacknowledged in a statement:
The greatest draw for me to Odysee was an automated second library of content that can build on its own without increasing my workload. Combine that with a much clearer monetization formula, and far more responsive communication with the administration and you have a platform that is very exciting to work with.
Odysee officially launched this month, but it says that since the beta version went live in September, more than 400,000 people have posted a total of 5 million videos to the site, which is already attracting 8.7 million monthly active users.
The plan is to eventually make money from advertising, with creators given full control over how they monetize. Individual viewers, meanwhile, will also be able to pay to skip ads, even if it's just for one video.
YouTube removes ads from, but won’t pull, ‘Trump Won’ video following backlash || Crypto fund inflows hit second highest on record, assets managed surge: Coinshares: By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - Institutional investors pumped $429 million into cryptocurrency funds and products for the week ended Dec. 7, the second highest on record, pushing the sector's assets under management to an all-time peak of $15 billion, according to Monday's data from digital asset manager CoinShares. At the end of 2019, assets under management stood at just $2.57 billion. Grayscale, the world's largest crypto fund had $336.3 million in inflows the latest week, lifting its assets under management to more than $12.4 billion. So far this year, Grayscale has amassed inflows of $4.3 billion, the Coinshares report said. "On an anecdotal level, based on our client conversations over the course of 2020, we have seen a decisive shift from enquiries of a speculative nature to those that begin with comments such as, 'bitcoin is here to stay, please help us understand it'," said James Butterfill, investment strategist at CoinShares. "Given the levels of interest, this suggests we are only on the cusp of institutional adoption rather than it cooling down." The largest weekly inflow on record was $468 million three weeks ago. Bitcoin products and bitcoin-focused funds attracted inflows of $334.7 million last week. Inflows to the original cryptocurrency have totaled nearly $4 billion so far this year. The largest cryptocurrency in terms of market capitalization hit a record high just under $20,000 last week but has since stalled at around $19,000. It was last down more than 2% at $18,976.35. In contrast, gold saw outflows from investment products of a record US$9.2 billion over the last four weeks while bitcoin saw inflows totalling $1.4 billion in the same period, the report said. But inflows into gold products remained higher on the year at $45.7 billion. Ethereum, the second largest digital currency, had $87.1 million in inflows in the latest period. Investors have become more bullish on ethereum likely because Ethereum management provided greater clarity on the much-awaited upgrades that make the network much more efficient and sustainable, the report said. (Reporting by Gertrude Chavez-Dreyfuss; editing by Grant McCool) || Crypto fund inflows hit second highest on record, assets managed surge: Coinshares: By Gertrude Chavez-Dreyfuss
NEW YORK (Reuters) - Institutional investors pumped $429 million into cryptocurrency funds and products for the week ended Dec. 7, the second highest on record, pushing the sector's assets under management to an all-time peak of $15 billion, according to Monday's data from digital asset manager CoinShares.
At the end of 2019, assets under management stood at just $2.57 billion.
Grayscale, the world's largest crypto fund had $336.3 million in inflows the latest week, lifting its assets under management to more than $12.4 billion. So far this year, Grayscale has amassed inflows of $4.3 billion, the Coinshares report said.
"On an anecdotal level, based on our client conversations over the course of 2020, we have seen a decisive shift from enquiries of a speculative nature to those that begin with comments such as, 'bitcoin is here to stay, please help us understand it'," said James Butterfill, investment strategist at CoinShares.
"Given the levels of interest, this suggests we are only on the cusp of institutional adoption rather than it cooling down."
The largest weekly inflow on record was $468 million three weeks ago.
Bitcoin products and bitcoin-focused funds attracted inflows of $334.7 million last week. Inflows to the original cryptocurrency have totaled nearly $4 billion so far this year.
The largest cryptocurrency in terms of market capitalization hit a record high just under $20,000 last week but has since stalled at around $19,000. It was last down more than 2% at $18,976.35.
In contrast, gold saw outflows from investment products of a record US$9.2 billion over the last four weeks while bitcoin saw inflows totalling $1.4 billion in the same period, the report said. But inflows into gold products remained higher on the year at $45.7 billion.
Ethereum, the second largest digital currency, had $87.1 million in inflows in the latest period. Investors have become more bullish on ethereum likely because Ethereum management provided greater clarity on the much-awaited upgrades that make the network much more efficient and sustainable, the report said.
(Reporting by Gertrude Chavez-Dreyfuss; editing by Grant McCool) || How One Bitcoin Options Trader Turned $638K Into $4.4M in 5 Weeks: In the run-up to the 2017 market peak, stories abounded of traders who bought bitcoin in the spot market just a few months before only to cash out to the tune of hundreds of thousands, if not millions, of dollars. The days of tripling or quadrupling your money in just a week or two just by buying bitcoin may be behind us. But since those heady days of three years ago, the crypto derivatives market has taken up the mantle of being the place where astonishing returns can occasionally be had by taking huge risks. Indeed, some traders with bullish outlooks have recently generated significant profits by taking long positions using the cheap out-of-the-money call options . That has given them the same reward as holding multiple bitcoins in the spot market but at a significantly less cost, albeit with more risk. Related: Bitcoin News Roundup for Dec. 8, 2020 That’s what a bullish call options trade executed five weeks ago on the world’s largest crypto options exchange, Deribit, has achieved. On Oct. 30, someone (a single trader or small group) bought 16,000 January expiry call options at the $36,000 strike for 0.003 bitcoin per contract, according to data shared by Deribit. The total cost was 48 bitcoin – the number of contracts (16,000) multiplied by the per-contract premium of 0.003 bitcoin. In dollar terms, the per-contract premium at the time was around $39.90, and the entire trade required an initial outlay of approximately $638,400. As bitcoin rallied from $13,400 to over $19,000, the premium drawn by the $36,000-strike January expiry call rose from 0.003 bitcoin to 0.0145 bitcoin, generating a paper profit of more than $4 million. Related: First Mover: Wells Fargo Bitcoin Briefing Could Signal Bull Run Intact Here is how the net return is calculated: = [(Option’s current price of 0.0145 BTC x 16,000 contracts) x bitcoin’s current spot market price of $19,200] minus (-) cost of trade. = [232 bitcoin x $19,200] – $638,400 = $4,454,400 – $638,400 = $3,816,000 Story continues If the position were to be liquidated now, and assuming dumping on the market 16,000 far-out-of-the-money calls wouldn’t drop the price, the net return ignoring the fees charged by the exchange would be seven times the initial outlay. A call option gives the holder the right but not the obligation to buy the underlying asset at a predetermined price on or before a particular date. A put option represents a right to sell. Options on Deribit are also cash-settled, which means when they are exercised it is only the profits that are paid. One options contract represents the right to buy or sell one bitcoin. As of now, the $36,000 call is an out-of-the-money call option – one which has no intrinsic value due to the spot price hovering below the strike price. Theoretically, the purchase of the $36,000 call expiring on Jan. 29 is a bet that prices will rise above $36,000 before the end of January, making the option “in-the-money.” The crypto derivatives market has taken up the mantle of being the place where astonishing returns can occasionally be had by taking huge risks. However, as markets move higher, the probability of the out-of-the-money option turning into one that is in-the-money rises, boosting the option’s premium, as seen in this case. If the bull market maintains its pace, the option premium will continue to rise, all things being equal. However, a potential price consolidation would reduce bitcoin’s probability of rising above $36,000 by the end of January and erode the option’s value as the time to expiration draws near (referred to as “theta decay” in options parlance). Taking on an options trade brings with it even more risk than just buying bitcoin outright. For one, the trader could get wiped out. That’s because the long call position would expire worthless on Jan. 29, yielding a loss of $638,400 (the total premium the trader paid) if bitcoin settles below $36,000 on that day. Then again, the maximum loss the option trader can suffer is limited to the extent of premium paid, which is $638,400 in this case. If the trader is seeking to liquidate a little bit of the position now, he or she may have a willing buyer out there near current prices for small amounts. As of now, the $36,000-strike call looks somewhat active. A few other traders seem to have bought call options at that strike price. “Options offer a different strategy to make leveraged profit,” said Shaun Fernando, head of risk and product at Deribit. “In this case, extremely bullish sentiment could be done through buying leveraged futures. However from trading far out-of-the-money calls, it offered the trader a low-risk, high-reward strategy with limited down side. Increase in option price was as a result of underlying move and increased volatility. Underlying [bitcoin] does not necessarily have to cross the strike for a trader to profit.” At press time, there are more than 20,000 call option contracts open at the $36,000 strike – that’s the highest concentration of open interest at a single strike. A big open interest buildup in a deep out-of-the-money option is often considered a bullish sign. However, sometimes the data is skewed by a few large trades and thus not reliable as a market indicator, as in this case. Related Stories How One Bitcoin Options Trader Turned $638K Into $4.4M in 5 Weeks How One Bitcoin Options Trader Turned $638K Into $4.4M in 5 Weeks || How One Bitcoin Options Trader Turned $638K Into $4.4M in 5 Weeks: In the run-up to the 2017 market peak, stories abounded of traders who bought bitcoin in the spot market just a few months before only to cash out to the tune of hundreds of thousands, if not millions, of dollars.
The days of tripling or quadrupling your money in just a week or two just by buyingbitcoinmay be behind us. But since those heady days of three years ago, the crypto derivatives market has taken up the mantle of being the place where astonishing returns can occasionally be had by taking huge risks.
Indeed, some traders with bullish outlooks have recently generated significant profits by taking long positions using the cheapout-of-the-money call options. That has given them the same reward as holding multiple bitcoins in the spot market but at a significantly less cost, albeit with more risk.
Related:Bitcoin News Roundup for Dec. 8, 2020
That’s what a bullish call options trade executed five weeks ago on the world’s largest crypto options exchange, Deribit, has achieved.
On Oct. 30, someone (a single trader or small group) bought 16,000 January expiry call options at the $36,000 strike for 0.003 bitcoin per contract, according to data shared by Deribit. The total cost was 48 bitcoin – the number of contracts (16,000) multiplied by the per-contract premium of 0.003 bitcoin.
In dollar terms, the per-contract premium at the time was around $39.90, and the entire trade required an initial outlay of approximately $638,400.
As bitcoin rallied from $13,400 to over $19,000, the premium drawn by the $36,000-strike January expiry call rose from 0.003 bitcoin to 0.0145 bitcoin, generating a paper profit of more than $4 million.
Related:First Mover: Wells Fargo Bitcoin Briefing Could Signal Bull Run Intact
Here is how the net return is calculated:
= [(Option’scurrent priceof 0.0145 BTC x 16,000 contracts) x bitcoin’s current spot market price of $19,200] minus (-) cost of trade.
If the position were to be liquidated now, and assuming dumping on the market 16,000 far-out-of-the-money calls wouldn’t drop the price, the net return ignoring the fees charged by the exchange would be seven times the initial outlay.
A call option gives the holder the right but not the obligation to buy the underlying asset at a predetermined price on or before a particular date. A put option represents a right to sell. Options on Deribit are also cash-settled, which means when they are exercised it is only the profits that are paid. One options contract represents the right to buy or sell one bitcoin.
As of now, the $36,000 call is an out-of-the-money call option – one which has no intrinsic value due to the spot price hovering below the strike price.
Theoretically, the purchase of the $36,000 call expiring on Jan. 29 is a bet that prices will rise above $36,000 before the end of January, making the option “in-the-money.”
The crypto derivatives market has taken up the mantle of being the place where astonishing returns can occasionally be had by taking huge risks.
However, as markets move higher, the probability of the out-of-the-money option turning into one that is in-the-money rises, boosting the option’s premium, as seen in this case.
If the bull market maintains its pace, the option premium will continue to rise, all things being equal. However, a potential price consolidation would reduce bitcoin’s probability of rising above $36,000 by the end of January and erode the option’s value as the time to expiration draws near (referred to as “theta decay” in options parlance).
Taking on an options trade brings with it even more risk than just buying bitcoin outright. For one, the trader could get wiped out. That’s because the long call position would expire worthless on Jan. 29, yielding a loss of $638,400 (the total premium the trader paid) if bitcoin settles below $36,000 on that day. Then again, the maximum loss the option trader can suffer is limited to the extent of premium paid, which is $638,400 in this case.
If the trader is seeking to liquidate a little bit of the position now, he or she may have a willing buyer out there near current prices for small amounts. As of now, the $36,000-strike call looks somewhat active. A few other traders seem to have bought call options at that strike price.
“Options offer a different strategy to make leveraged profit,” said Shaun Fernando, head of risk and product at Deribit. “In this case, extremely bullish sentiment could be done through buying leveraged futures. However from trading far out-of-the-money calls, it offered the trader a low-risk, high-reward strategy with limited down side. Increase in option price was as a result of underlying move and increased volatility. Underlying [bitcoin] does not necessarily have to cross the strike for a trader to profit.”
At press time, there are more than 20,000 call option contracts open at the $36,000 strike – that’s the highest concentration of open interest at a single strike.
A big open interest buildup in a deep out-of-the-money option is often considered a bullish sign. However, sometimes the data is skewed by a few large trades and thus not reliable as a market indicator, as in this case.
• How One Bitcoin Options Trader Turned $638K Into $4.4M in 5 Weeks
• How One Bitcoin Options Trader Turned $638K Into $4.4M in 5 Weeks || How One Bitcoin Options Trader Turned $638K Into $4.4M in 5 Weeks: In the run-up to the 2017 market peak, stories abounded of traders who bought bitcoin in the spot market just a few months before only to cash out to the tune of hundreds of thousands, if not millions, of dollars.
The days of tripling or quadrupling your money in just a week or two just by buyingbitcoinmay be behind us. But since those heady days of three years ago, the crypto derivatives market has taken up the mantle of being the place where astonishing returns can occasionally be had by taking huge risks.
Indeed, some traders with bullish outlooks have recently generated significant profits by taking long positions using the cheapout-of-the-money call options. That has given them the same reward as holding multiple bitcoins in the spot market but at a significantly less cost, albeit with more risk.
Related:Bitcoin News Roundup for Dec. 8, 2020
That’s what a bullish call options trade executed five weeks ago on the world’s largest crypto options exchange, Deribit, has achieved.
On Oct. 30, someone (a single trader or small group) bought 16,000 January expiry call options at the $36,000 strike for 0.003 bitcoin per contract, according to data shared by Deribit. The total cost was 48 bitcoin – the number of contracts (16,000) multiplied by the per-contract premium of 0.003 bitcoin.
In dollar terms, the per-contract premium at the time was around $39.90, and the entire trade required an initial outlay of approximately $638,400.
As bitcoin rallied from $13,400 to over $19,000, the premium drawn by the $36,000-strike January expiry call rose from 0.003 bitcoin to 0.0145 bitcoin, generating a paper profit of more than $4 million.
Related:First Mover: Wells Fargo Bitcoin Briefing Could Signal Bull Run Intact
Here is how the net return is calculated:
= [(Option’scurrent priceof 0.0145 BTC x 16,000 contracts) x bitcoin’s current spot market price of $19,200] minus (-) cost of trade.
If the position were to be liquidated now, and assuming dumping on the market 16,000 far-out-of-the-money calls wouldn’t drop the price, the net return ignoring the fees charged by the exchange would be seven times the initial outlay.
A call option gives the holder the right but not the obligation to buy the underlying asset at a predetermined price on or before a particular date. A put option represents a right to sell. Options on Deribit are also cash-settled, which means when they are exercised it is only the profits that are paid. One options contract represents the right to buy or sell one bitcoin.
As of now, the $36,000 call is an out-of-the-money call option – one which has no intrinsic value due to the spot price hovering below the strike price.
Theoretically, the purchase of the $36,000 call expiring on Jan. 29 is a bet that prices will rise above $36,000 before the end of January, making the option “in-the-money.”
The crypto derivatives market has taken up the mantle of being the place where astonishing returns can occasionally be had by taking huge risks.
However, as markets move higher, the probability of the out-of-the-money option turning into one that is in-the-money rises, boosting the option’s premium, as seen in this case.
If the bull market maintains its pace, the option premium will continue to rise, all things being equal. However, a potential price consolidation would reduce bitcoin’s probability of rising above $36,000 by the end of January and erode the option’s value as the time to expiration draws near (referred to as “theta decay” in options parlance).
Taking on an options trade brings with it even more risk than just buying bitcoin outright. For one, the trader could get wiped out. That’s because the long call position would expire worthless on Jan. 29, yielding a loss of $638,400 (the total premium the trader paid) if bitcoin settles below $36,000 on that day. Then again, the maximum loss the option trader can suffer is limited to the extent of premium paid, which is $638,400 in this case.
If the trader is seeking to liquidate a little bit of the position now, he or she may have a willing buyer out there near current prices for small amounts. As of now, the $36,000-strike call looks somewhat active. A few other traders seem to have bought call options at that strike price.
“Options offer a different strategy to make leveraged profit,” said Shaun Fernando, head of risk and product at Deribit. “In this case, extremely bullish sentiment could be done through buying leveraged futures. However from trading far out-of-the-money calls, it offered the trader a low-risk, high-reward strategy with limited down side. Increase in option price was as a result of underlying move and increased volatility. Underlying [bitcoin] does not necessarily have to cross the strike for a trader to profit.”
At press time, there are more than 20,000 call option contracts open at the $36,000 strike – that’s the highest concentration of open interest at a single strike.
A big open interest buildup in a deep out-of-the-money option is often considered a bullish sign. However, sometimes the data is skewed by a few large trades and thus not reliable as a market indicator, as in this case.
• How One Bitcoin Options Trader Turned $638K Into $4.4M in 5 Weeks
• How One Bitcoin Options Trader Turned $638K Into $4.4M in 5 Weeks
[Social Media Buzz]
None available.
|
18553.92, 18264.99, 18058.90, 18803.66, 19142.38, 19246.64, 19417.08, 21310.60, 22805.16, 23137.96
|
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 276.05, 288.28, 288.70, 292.69, 293.62, 294.43, 289.59, 287.72, 284.65, 281.60, 282.61, 281.23, 285.22, 281.88, 278.58, 279.58, 261.00, 265.08, 264.47, 270.39, 266.38, 264.08, 265.68, 261.55, 258.51, 257.98, 211.08, 226.68, 235.35, 232.57, 230.39, 228.17, 210.49, 221.61, 225.83, 224.77, 231.40, 229.78, 228.76, 230.06, 228.12, 229.28, 227.18, 230.30, 235.02, 239.84, 239.85, 243.61, 238.17, 238.48, 240.11, 235.23, 230.51, 230.64, 230.30, 229.09, 229.81, 232.98, 231.49, 231.21, 227.09, 230.62, 230.28, 234.53, 235.14, 234.34, 232.76, 239.14, 236.69, 236.06, 237.55, 237.29, 238.73, 238.26, 240.38, 246.06, 242.97, 242.30, 243.93, 244.94, 247.05, 245.31, 249.51, 251.99, 254.32, 262.87, 270.64, 261.64, 263.44, 269.46.
|
[Bitcoin Technical Analysis for 2015-10-20]
Volume: 30889800, RSI (14-day): 71.45, 50-day EMA: 245.97, 200-day EMA: 251.09
[Wider Market Context]
Gold Price: 1178.00, Gold RSI: 63.30
Oil Price: 45.55, Oil RSI: 47.02
[Recent News (last 7 days)]
Is The Video Subscription Space Saturated?: The way consumers watch TV has changed drastically over the past few years as the popularity of Internet video sites like YouTube have skyrocketed. Dedicated streaming services like Netflix, Inc. (NASDAQ: NFLX ) and Hulu emerged and their warm reception from American viewers caused traditional broadcasters to rethink their own operations. Now, several big name networks have created their own online, subscription-based services in an effort to give customers more choices for web-based viewing. However, with so many fragmented viewing options out there, many are wondering if the space is starting to become crowded. The All Important Millennial The younger generation is increasingly switching to online viewing, a troublesome sign for traditional cable. Services like Netflix and Amazon offer a wide range of content geared toward that demographic and have become popular choices for Millennials who are cutting the cord. Related Link: Why Netflix's Initial Selloff Was "Correct" However, in an effort to maintain a youthful audience, firms like NBC Universal and CBS Corporation (NYSE: CBS ) have launched their own subscription services with content aimed at younger viewers. Stiff Competition NBC Universal recently unveiled a new streaming offering called Seeso, which will focus on comedy programming. The firm has been working together with non-traditional media companies like BuzzFeed and Vox to attract younger viewers, but the firm will have to compete with a host of other networks that are all doing the same thing. Dish Network's Sling TV, CBS' All Access service and Time Warner's HBO Now are just some of the many online subscription services that Seeso will have to compete with. Cutting The Cord While online viewing is gaining popularity, most agree that at the present moment there is no good way to cut the cord completely. Subscribing to the many online services that have saturated the streaming space would typically cost more than paying a traditional cable bill, so most consumers are choosing one or two online services to enhance their programming. That makes it difficult for new entrants like Seeso as more established names like Netflix are often a top choice. Story continues Image Credit: By Taro the Shiba Inu [ CC BY 2.0 ], via Wikimedia Commons See more from Benzinga Virtual Reality Becomes An Actual Reality With New Oculus Headset Netflix Viewing Stats Reveal That All Shows Aren't Created Equally 21 Inc's Bitcoin Computer Seeks To Redefine The Internet © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Is The Video Subscription Space Saturated?: The way consumers watch TV has changed drastically over the past few years as the popularity of Internet video sites like YouTube have skyrocketed.
Dedicated streaming services likeNetflix, Inc.(NASDAQ:NFLX) and Hulu emerged and their warm reception from American viewers caused traditional broadcasters to rethink their own operations.
Now, several big name networks have created their own online, subscription-based services in an effort to give customers more choices for web-based viewing. However, with so many fragmented viewing options out there, many are wondering if the space is starting to become crowded.
The All Important Millennial
The younger generation is increasingly switching to online viewing, a troublesome sign for traditional cable. Services like Netflix and Amazon offer a wide range of content geared toward that demographic and have become popular choices for Millennials who are cutting the cord.
Related Link:Why Netflix's Initial Selloff Was "Correct"
However, in an effort to maintain a youthful audience, firms like NBC Universal andCBS Corporation(NYSE:CBS) have launched their own subscription services with content aimed at younger viewers.
Stiff Competition
NBC Universal recentlyunveileda new streaming offering called Seeso, which will focus on comedy programming. The firm has been working together with non-traditional media companies like BuzzFeed and Vox to attract younger viewers, but the firm will have to compete with a host of other networks that are all doing the same thing.
Dish Network's Sling TV, CBS' All Access service and Time Warner's HBO Now are just some of the many online subscription services that Seeso will have to compete with.
Cutting The Cord
While online viewing is gaining popularity, most agree that at the present moment there is no good way to cut the cord completely.
Subscribing to the many online services that have saturated the streaming space would typically cost more than paying a traditional cable bill, so most consumers are choosing one or two online services to enhance their programming. That makes it difficult for new entrants like Seeso as more established names like Netflix are often a top choice.
Image Credit: By Taro the Shiba Inu [CC BY 2.0], via Wikimedia Commons
See more from Benzinga
• Virtual Reality Becomes An Actual Reality With New Oculus Headset
• Netflix Viewing Stats Reveal That All Shows Aren't Created Equally
• 21 Inc's Bitcoin Computer Seeks To Redefine The Internet
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || October Treat: Junk Bonds and Gold ETFs Pop: The stock market rebound continued this week as the S&P 500 touched its highest level in nearly two months. TheSPDR S&P 500 (SPY | A-99)is now up 5.8 percent in October, a strong performance in a month that has historically been the second-worst of the year (after September).
Gold & Silver Miners Dominate Jump
On Monday, we highlighted thebest-performing exchange-traded funds of October. Those funds, comprising mostly copper and energy producers, are still doing well in the month.
However, a new group of ETFs have bullied their way into the top 10: gold and silver miners. In fact, precious-metals-related funds now make up six of the top 10 positions for October, as can be seen from the table below.
Top 10 ETF Of October
[{"Ticker": "SILJ", "Fund": "PureFunds ISE Junior Silver (Small Cap Miners/Explorers)", "Return (%)": "27.86"}, {"Ticker": "COPX", "Fund": "Global X Copper Miners", "Return (%)": "25.61"}, {"Ticker": "PLTM", "Fund": "First Trust ISE Global Platinum", "Return (%)": "25.30"}, {"Ticker": "CU", "Fund": "First Trust ISE Global Copper", "Return (%)": "25.23"}, {"Ticker": "SLVP", "Fund": "iShares MSCI Global Silver Miners", "Return (%)": "25.07"}, {"Ticker": "SGDM", "Fund": "Sprott Gold Miners", "Return (%)": "24.04"}, {"Ticker": "KWT", "Fund": "Market Vectors Solar Energy", "Return (%)": "23.29"}, {"Ticker": "RING", "Fund": "iShares MSCI Global Gold Miners", "Return (%)": "23.28"}, {"Ticker": "GDX", "Fund": "Market Vectors Gold Miners", "Return (%)": "22.60"}, {"Ticker": "SIL", "Fund": "Global X Silver Miners", "Return (%)": "22.41"}]
Considering the big jump in gold prices this month, the performance of these ETFs hasn't been surprising. The yellow metal hit the highest point since mid-June this week, leading theSPDR Gold Trust (GLD | A-100)to a gain of 5.7 percent in October.
Miners tend to be much more volatile than the underlying metal, which explains their significant outperformance. Yet even as these ETFs rally, investors haven't been too keen on buying into them.
None of the top 10 price performers saw significant inflows, and in fact, investors pulled out $429 million from theMarket Vectors Gold Miners ETF (GDX | C-79)during the first half of the month.
Investors Buying BondsWhile ETF investors haven't been too enthusiastic about miners, they did show interest in gold itself. So far this month, GLD has attracted $483 million in inflows, putting it just outside the top 10 inflows list for the month.
One salient theme that has emerged during October is the idea that the Federal Reserve will hold off on hiking interest rates this year due to global slowdown concerns and the recent string of weak U.S. economic data.
That's propelled gold higher, as well as bonds. In fact, bonds are the asset class that's attracted the most capital this month.
As can be seen from the table below, generated using theETF.com fund flows tool, a number of bond ETFs made the top 10 inflows list:
Source: ETF.com Fund Flows Tool
TheiShares 7-10 Year Treasury Bond ETF (IEF | A-51)was a big winner, with nearly $1 billion in inflows. To the extent that the Fed's overnight interest rate stays lower for longer, that puts pressure on the longer end of the yield curve as well (supporting bond prices).
Even more popular than IEF were corporate bond ETFs like the SPDR BarclaysHigh Yield Bond ETF (JNK | B-68)and theiShares iBoxx $ Investment Grade Corporate Bond ETF (LQD | A-77). In addition to support from low interest rates, corporate bonds benefited from speculation that defaults may not be as high as feared.
That's particularly true for the junk bond space, which was hammered in August and September, sending yields to their loftiest level since 2011. Investors may be seeing those yields as attractive now that the stock market has stabilized and the Fed looks to be on hold.
In addition to the bond ETFs, other funds that saw notable inflows were the tech-heavyPowerShares QQQ (QQQ | A-66)and the large-capiShares Russell 1000 Value (IWD | A-90).
In terms of sectors, investors liked theIndustrial Select SPDR (XLI | A-92)and theConsumer Discretionary Select SPDR (XLY | A-91).
Contact Sumit Roy atsroy@etf.com.
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Permalink| © Copyright 2015ETF.com.All rights reserved || October Treat: Junk Bonds and Gold ETFs Pop: The stock market rebound continued this week as the S&P 500 touched its highest level in nearly two months. The SPDR S&P 500 (SPY | A-99) is now up 5.8 percent in October, a strong performance in a month that has historically been the second-worst of the year (after September). Gold & Silver Miners Dominate Jump On Monday, we highlighted the best-performing exchange-traded funds of October . Those funds, comprising mostly copper and energy producers, are still doing well in the month. However, a new group of ETFs have bullied their way into the top 10: gold and silver miners. In fact, precious-metals-related funds now make up six of the top 10 positions for October, as can be seen from the table below. Top 10 ETF Of October Ticker Fund Return (%) SILJ PureFunds ISE Junior Silver (Small Cap Miners/Explorers) 27.86 COPX Global X Copper Miners 25.61 PLTM First Trust ISE Global Platinum 25.30 CU First Trust ISE Global Copper 25.23 SLVP iShares MSCI Global Silver Miners 25.07 SGDM Sprott Gold Miners 24.04 KWT Market Vectors Solar Energy 23.29 RING iShares MSCI Global Gold Miners 23.28 GDX Market Vectors Gold Miners 22.60 SIL Global X Silver Miners 22.41 Considering the big jump in gold prices this month, the performance of these ETFs hasn't been surprising. The yellow metal hit the highest point since mid-June this week, leading the SPDR Gold Trust (GLD | A-100) to a gain of 5.7 percent in October. Miners tend to be much more volatile than the underlying metal, which explains their significant outperformance. Yet even as these ETFs rally, investors haven't been too keen on buying into them. None of the top 10 price performers saw significant inflows, and in fact, investors pulled out $429 million from the Market Vectors Gold Miners ETF (GDX | C-79) during the first half of the month. Investors Buying Bonds While ETF investors haven't been too enthusiastic about miners, they did show interest in gold itself. So far this month, GLD has attracted $483 million in inflows, putting it just outside the top 10 inflows list for the month. Story continues One salient theme that has emerged during October is the idea that the Federal Reserve will hold off on hiking interest rates this year due to global slowdown concerns and the recent string of weak U.S. economic data. That's propelled gold higher, as well as bonds. In fact, bonds are the asset class that's attracted the most capital this month. As can be seen from the table below, generated using the ETF.com fund flows tool , a number of bond ETFs made the top 10 inflows list: Source: ETF.com Fund Flows Tool The iShares 7-10 Year Treasury Bond ETF (IEF | A-51) was a big winner, with nearly $1 billion in inflows. To the extent that the Fed's overnight interest rate stays lower for longer, that puts pressure on the longer end of the yield curve as well (supporting bond prices). Even more popular than IEF were corporate bond ETFs like the SPDR Barclays High Yield Bond ETF (JNK | B-68) and the iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD | A-77) . In addition to support from low interest rates, corporate bonds benefited from speculation that defaults may not be as high as feared. That's particularly true for the junk bond space, which was hammered in August and September, sending yields to their loftiest level since 2011. Investors may be seeing those yields as attractive now that the stock market has stabilized and the Fed looks to be on hold. In addition to the bond ETFs, other funds that saw notable inflows were the tech-heavy PowerShares QQQ (QQQ | A-66) and the large-cap iShares Russell 1000 Value (IWD | A-90) . In terms of sectors, investors liked the Industrial Select SPDR (XLI | A-92) and the Consumer Discretionary Select SPDR (XLY | A-91) . Contact Sumit Roy at sroy@etf.com . Recommended Stories Gundlach: Sell Junk Bonds, Buy India Bitcoin Rally Benefiting ETFs NatGas Investing Not For Faint Of Heart October Treat: Junk Bonds & Gold ETFs Pop Twitter Chatter Packed In New Index Permalink | © Copyright 2015 ETF.com. All rights reserved || Caribbean's Next Top Model Set for Season 2 Premiere: MIAMI, FL--(Marketwired - Oct 15, 2015) - On October 19, young women from all over the Caribbean will begin chasing their dreams of success as career models, when the second season of Caribbean's Next Top Model (CNTM) makes its premiere on Flow TV. Cable and Wireless, which operates both the Flow and LIME brand, is the premium sponsor for the show's sophomore season, which will run for 11 episodes, starting on October 19.
The Caribbean reality show is based on the successful original production -- America's Next Top Model. This regional program follows the stories of young women seeking to launch a career in the competitive world of modelling, and is produced and presented by Wendy Fitzwilliam, a former Miss Universe, successful model and entrepreneur.
"We are extremely excited to be partnering with Wendy Fitzwilliam and her Caribbean's Next Top Model team," said John Reid, President of the C&W Communications, Consumer Group. "We are not just committed, but we are also proud to support Caribbean producers who generate quality local content for the region." Reid also noted that customers now have more options to access the exciting regional programme across multiple platforms, including their TV and other smart devices, where the mobile option was available. Customers in Jamaica, Trinidad, Barbados, Cayman, and Curacao will also be able to access the show at their convenience using Flow's Video on Demand (VOD) feature. Aside from the many viewing options, Flow customers, will also be able to participate in other exciting promotions including weekly SMS competition to win a new iPad, tablet, or other great prizes.
Commenting on the partnership, Fitzwilliam said, "It is so refreshing when a corporate entity recognises the need for support and undertakes the responsibility of enabling the development of Caribbean talent and content -- Flow has definitely got it right. With Flow you get more -- CNTM's fans will get a wholesome entertainment experience, one that is as interactive and engaging as possible. With Flow's quad play technology, viewers can truly enjoy the upcoming season to the fullest extent."
Caribbean Next Top Model will be broadcast simultaneously on the Flow TV platform across the region on Monday nights from October 19 at 7:30 p.m. in Curacao, Jamaica, Cayman Islands and at 8:30 p.m. -- in Trinidad, Jamaica, Barbados, St. Vincent and the Grenadines, Grenada, St. Lucia, Antigua and Barbuda and The Bahamas. As the season unfolds, each CNTM episode will first air on Flow TV and will then air on other stations, five days after the initial Flow airing.
Season Two of Caribbean's Next Top Model will premiere with a star-studded fashion event at the Betsy Hotel on South Beach, Miami on October 19.
About C&W Communications
Cable & Wireless Communications Plc (CWC) is a full service communications and entertainment provider, operating in the Caribbean and Latin America. With annual sales of over US$2.4 billion, it operates both mobile and fixed networks, supported by submarine and terrestrial optical fibre backhaul capacity. Through the acquisition of Columbus International Inc on 31 March 2015, C&W now delivers superior high-speed mobile data, broadband and TV/video services. It has leading market positions in Mobile, Fixed Line, Broadband and TV consumer offers.
Through its business division, C&W provides data centre hosting, domestic and international managed network services, and customised IT service solutions, utilising cloud technology to serve business and government customers.
The company also operates a state-of-the-art subsea fibre optic cable network that spans more than 48,000 km -- the most extensive in the region -- as well as 38,000 km of terrestrial fibre providing wholesale and carrier backhaul capacity and a growing suite of wholesale managed services.
C&W has more than 7,500 employees serving over 6 million customers (Mobile 3.8m; Fixed Line 1.1m; Video 460k and Broadband 665k) as well as over 125k corporate clients and 225 wholesale customers across 42 countries. The Company's leading brands include: LIME and Flow in the Caribbean; BTC in The Bahamas; Mas Movil in Panama; C&W Business and C&W Networks. C&W is the market leader in most products offered and territories served. It is a major contributor to local communities through its corporate social responsibility programs.
Cable & Wireless Communications' shares are quoted on the London Stock Exchange under the ticker CWC. The company is headquartered in London with its operational hub located in Miami, within close proximity to the Caribbean and Latin America. For more information visit:www.cwc.com. || Caribbean's Next Top Model Set for Season 2 Premiere: MIAMI, FL--(Marketwired - Oct 15, 2015) - On October 19, young women from all over the Caribbean will begin chasing their dreams of success as career models, when the second season of Caribbean's Next Top Model (CNTM) makes its premiere on Flow TV. Cable and Wireless, which operates both the Flow and LIME brand, is the premium sponsor for the show's sophomore season, which will run for 11 episodes, starting on October 19. The Caribbean reality show is based on the successful original production -- America's Next Top Model. This regional program follows the stories of young women seeking to launch a career in the competitive world of modelling, and is produced and presented by Wendy Fitzwilliam, a former Miss Universe, successful model and entrepreneur. "We are extremely excited to be partnering with Wendy Fitzwilliam and her Caribbean's Next Top Model team," said John Reid, President of the C&W Communications, Consumer Group. "We are not just committed, but we are also proud to support Caribbean producers who generate quality local content for the region." Reid also noted that customers now have more options to access the exciting regional programme across multiple platforms, including their TV and other smart devices, where the mobile option was available. Customers in Jamaica, Trinidad, Barbados, Cayman, and Curacao will also be able to access the show at their convenience using Flow's Video on Demand (VOD) feature. Aside from the many viewing options, Flow customers, will also be able to participate in other exciting promotions including weekly SMS competition to win a new iPad, tablet, or other great prizes. Commenting on the partnership, Fitzwilliam said, "It is so refreshing when a corporate entity recognises the need for support and undertakes the responsibility of enabling the development of Caribbean talent and content -- Flow has definitely got it right. With Flow you get more -- CNTM's fans will get a wholesome entertainment experience, one that is as interactive and engaging as possible. With Flow's quad play technology, viewers can truly enjoy the upcoming season to the fullest extent." Story continues Caribbean Next Top Model will be broadcast simultaneously on the Flow TV platform across the region on Monday nights from October 19 at 7:30 p.m. in Curacao, Jamaica, Cayman Islands and at 8:30 p.m. -- in Trinidad, Jamaica, Barbados, St. Vincent and the Grenadines, Grenada, St. Lucia, Antigua and Barbuda and The Bahamas. As the season unfolds, each CNTM episode will first air on Flow TV and will then air on other stations, five days after the initial Flow airing. Season Two of Caribbean's Next Top Model will premiere with a star-studded fashion event at the Betsy Hotel on South Beach, Miami on October 19. About C&W Communications Cable & Wireless Communications Plc (CWC) is a full service communications and entertainment provider, operating in the Caribbean and Latin America. With annual sales of over US$2.4 billion, it operates both mobile and fixed networks, supported by submarine and terrestrial optical fibre backhaul capacity. Through the acquisition of Columbus International Inc on 31 March 2015, C&W now delivers superior high-speed mobile data, broadband and TV/video services. It has leading market positions in Mobile, Fixed Line, Broadband and TV consumer offers. Through its business division, C&W provides data centre hosting, domestic and international managed network services, and customised IT service solutions, utilising cloud technology to serve business and government customers. The company also operates a state-of-the-art subsea fibre optic cable network that spans more than 48,000 km -- the most extensive in the region -- as well as 38,000 km of terrestrial fibre providing wholesale and carrier backhaul capacity and a growing suite of wholesale managed services. C&W has more than 7,500 employees serving over 6 million customers (Mobile 3.8m; Fixed Line 1.1m; Video 460k and Broadband 665k) as well as over 125k corporate clients and 225 wholesale customers across 42 countries. The Company's leading brands include: LIME and Flow in the Caribbean; BTC in The Bahamas; Mas Movil in Panama; C&W Business and C&W Networks. C&W is the market leader in most products offered and territories served. It is a major contributor to local communities through its corporate social responsibility programs. Cable & Wireless Communications' shares are quoted on the London Stock Exchange under the ticker CWC. The company is headquartered in London with its operational hub located in Miami, within close proximity to the Caribbean and Latin America. For more information visit: www.cwc.com . || Barclays Partnership With Chainalysis Ushers In New Era For Fintech: On Wednesday, at the culmination of the Barclays Accelerator program, Barclays PLC (ADR) (NYSE: BCS ) announced a new partnership with startup Chainalysis. The partnership is seen as an opportunity with the potential to further open up the traditional finance sector to bitcoin firms. Bitcoin businesses have long found it difficult to engage with banks, as traditional finance has been wary of the risks that come with dealing in cryptocurrencies. However, with one of the UK's largest banks onboarding Chainalysis to its compliance department, many see a union between cryptocurrencies and traditional finance on the horizon. Mitigating Risks Barclays' partnership with Chainalysis is expected to help the bank better understand and cope with the risks of dealing with bitcoin firms. The startup is expected to work together with Barclays to find ways for firms within the cryptocurrency industry to meet traditional banks' strict compliance standards. Related Link: Blockstream To Launch Sidechain Worries about money laundering and illegal transactions have kept many banks from dealing with the industry, but Chainalysis says it has developed several products that make it easier for banks to perform checks on bitcoin customers. Mutual Benefit The partnership between Barclays and Chainalysis is a big step for both firms. For Barclays, working with Chainalysis gives the bank a leg up against competitors as the firm is able to stay on top of evolving trends in the finch space. Chainalysis has gained major exposure from the deal, and the company says it hopes other finance institutions will follow suit and use some of Chainalysis' products as the cryptocurrency space continues to grow. Image Credit: Public Domain See more from Benzinga AXA Interested In Bitcoin's Potential Barclays Becomes First Big U.K. Bank To Accept Bitcoin Emerging Market Shares Battered: Is It Time To Buy? © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Barclays Partnership With Chainalysis Ushers In New Era For Fintech: On Wednesday, at the culmination of the Barclays Accelerator program,Barclays PLC (ADR)(NYSE:BCS)announceda new partnership with startup Chainalysis.
The partnership is seen as an opportunity with the potential to further open up the traditional finance sector to bitcoin firms.
Bitcoin businesses have long found it difficult to engage with banks, as traditional finance has been wary of the risks that come with dealing in cryptocurrencies. However, with one of the UK's largest banks onboarding Chainalysis to its compliance department, many see a union between cryptocurrencies and traditional finance on the horizon.
Mitigating Risks
Barclays' partnership with Chainalysis is expected to help the bank better understand and cope with the risks of dealing with bitcoin firms.
The startup is expected to work together with Barclays to find ways for firms within the cryptocurrency industry to meet traditional banks' strict compliance standards.
Related Link:Blockstream To Launch Sidechain
Worries about money laundering and illegal transactions have kept many banks from dealing with the industry, but Chainalysis says it has developed several products that make it easier for banks to perform checks on bitcoin customers.
Mutual Benefit
The partnership between Barclays and Chainalysis is a big step for both firms. For Barclays, working with Chainalysis gives the bank a leg up against competitors as the firm is able to stay on top of evolving trends in the finch space.
Chainalysis has gained major exposure from the deal, and the company says it hopes other finance institutions will follow suit and use some of Chainalysis' products as the cryptocurrency space continues to grow.
Image Credit: Public Domain
See more from Benzinga
• AXA Interested In Bitcoin's Potential
• Barclays Becomes First Big U.K. Bank To Accept Bitcoin
• Emerging Market Shares Battered: Is It Time To Buy?
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Blockchain For Banks Could Be A Big Business: Cryptocurrencies have received a lot of attention over the past few years as more and more people took an interest in the technology. However, much of the buzz surrounding cryptocurrencies like bitcoin was negative after a spate of high profile scams and criminal cases involving the currency painted it as a tool for illicit activities. While bitcoin may never become a mainstream payment method, blockchain, the ledger-like technology that it runs on, has been touted as one of the most important developments of the decade. Related Link: Bitcoin May Be Flailing, But Blockchain Is On The Rise Banks On Board Traditional finance firms have been reluctant to embrace bitcoin as a currency, but blockchain is another story. Banks around the world including Bank of America Corp (NYSE: BAC ), Morgan Stanley (NYSE: MS ) and Deutsche Bank (NYSE: DB ) have all taken an interest in blockchain , saying they could see the technology improving how they do business. Blockchain provides a secure way to facilitate transactions without involving a third party intermediary. Banks say this could be useful for everything from sending payments to setting up a smart contracts system. Implementing Blockchain While many banks are studying blockchain using task forces set up within their own company, several startups have emerged to help banks study the impact of blockchain on their operations. Blockstack, Eris Ltd and Coin Sciences are all private firms that offer companies blockchain solutions. They offer banks the ability to experiment with blockchain systems that meet their specific needs, rather than providing them with something that needs to be modified. See more from Benzinga Can Social Media Firms Compete With Amazon In The E-Commerce Space? Cyberweapons Replace Nuclear Threats In Global Arms Race Things Are Looking Brighter For Europe © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. View comments || Blockchain For Banks Could Be A Big Business: Cryptocurrencies have received a lot of attention over the past few years as more and more people took an interest in the technology. However, much of the buzz surrounding cryptocurrencies like bitcoin was negative after a spate of high profile scams and criminal cases involving the currency painted it as a tool for illicit activities.
While bitcoin may never become a mainstream payment method, blockchain, the ledger-like technology that it runs on, has been touted as one of the most important developments of the decade.
Related Link:Bitcoin May Be Flailing, But Blockchain Is On The Rise
Banks On Board
Traditional finance firms have been reluctant to embrace bitcoin as a currency, but blockchain is another story. Banks around the world includingBank of America Corp(NYSE:BAC),Morgan Stanley(NYSE:MS) andDeutsche Bank(NYSE:DB) have alltaken an interest in blockchain, saying they could see the technology improving how they do business. Blockchain provides a secure way to facilitate transactions without involving a third party intermediary. Banks say this could be useful for everything from sending payments to setting up a smart contracts system.
Implementing Blockchain
While many banks are studying blockchain using task forces set up within their own company, several startups have emerged to help banks study the impact of blockchain on their operations. Blockstack, Eris Ltd and Coin Sciences are all private firms that offer companies blockchain solutions. They offer banks the ability to experiment with blockchain systems that meet their specific needs, rather than providing them with something that needs to be modified.
See more from Benzinga
• Can Social Media Firms Compete With Amazon In The E-Commerce Space?
• Cyberweapons Replace Nuclear Threats In Global Arms Race
• Things Are Looking Brighter For Europe
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
[Social Media Buzz]
Current price: 172.54£ $BTCGBP $btc #bitcoin 2015-10-20 14:00:13 BST || El #bitcoin está cotizando a 265.00$ http://bit.ly/1JMFJU3 || Current price: 235.81€ $BTCEUR $btc #bitcoin 2015-10-21 00:00:06 CEST || Current price: 263$ $BTCUSD $btc #bitcoin 2015-10-20 00:40:03 EDT || 1 #bitcoin 755.19 TL, 264.756 $, 231.321 €, GBP, 16150.00 RUR, 31718 ¥, CNH, 347.24 CAD #btc || 1 #BTC (#Bitcoin) quotes:
$265.00/$265.25 #Bitstamp
$263.10/$263.12 #BTCe
⇢$-2.15/$-1.88
$266.72/$266.74 #Coinbase
⇢$1.47/$1....
|
266.27, 274.02, 276.50, 281.65, 283.68, 285.30, 293.79, 304.62, 313.86, 328.02
|
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 9870.30, 9477.68, 9552.86, 9519.15, 9607.42, 10085.63, 10399.67, 10518.17, 10821.73, 10970.18, 11805.65, 11478.17, 11941.97, 11966.41, 11862.94, 11354.02, 11523.58, 11382.62, 10895.83, 10051.70, 10311.55, 10374.34, 10231.74, 10345.81, 10916.05, 10763.23, 10138.05, 10131.06, 10407.96, 10159.96, 10138.52, 10370.82, 10185.50, 9754.42, 9510.20, 9598.17, 9630.66, 9757.97, 10346.76, 10623.54, 10594.49, 10575.53, 10353.30, 10517.25, 10441.28, 10334.97, 10115.98, 10178.37, 10410.13, 10360.55, 10358.05, 10347.71, 10276.79, 10241.27, 10198.25, 10266.42, 10181.64, 10019.72, 10070.39, 9729.32, 8620.57, 8486.99, 8118.97, 8251.85, 8245.92, 8104.19, 8293.87, 8343.28, 8393.04, 8259.99, 8205.94, 8151.50, 7988.16, 8245.62, 8228.78, 8595.74, 8586.47, 8321.76, 8336.56, 8321.01, 8374.69, 8205.37, 8047.53, 8103.91, 7973.21, 7988.56, 8222.08, 8243.72, 8078.20, 7514.67.
|
[Bitcoin Technical Analysis for 2019-10-23]
Volume: 21942878958, RSI (14-day): 29.11, 50-day EMA: 8819.19, 200-day EMA: 8647.32
[Wider Market Context]
Gold Price: 1489.90, Gold RSI: 48.43
Oil Price: 55.97, Oil RSI: 56.74
[Recent News (last 7 days)]
Pension Funds Put $50 Million Into Morgan Creek’s New Blockchain Fund: Morgan Creek Digital has raised the first $60.9 million tranche of its $250 million target for its second venture capital fund.
Morgan Creek revealed exclusively to CoinDesk that the same institutions from the first fund, including two public pension funds, have increased their investments in the second by more than twofold.
Together, Fairfax County’s Virginia’s Police Officer’s Retirement System and Employees’ Retirement System are investing a combined $50 million in the second fund, up from $21 million in its first fund that closed in February.
Related:Shark Tank’s Kevin O’Leary Questions Bitcoin’s Role as ‘Safe Haven’
Commitments from other institutional investors including Wakemed Health and Hospitals, an insurance company and a university endowment make up the remaining $10 million of the tranche.
In an interview with CoinDesk, Morgan Creek Capital partner Anthony Pompliano said the decision was taken to split the full $250 million raise into tranches, with no date yet set for its close.
“We hear folks saying institutions aren’t interested, but this initial close along with the conversations we’re having with tens of other institutions, shows that there is no lack of interest.”
The second fund will be primarily focused on seed investments in equity, like the first fund, which included investments in what Pompliano called “blockchain infrastructure” companies like Bitwise and BlockFi.
Related:Morgan Creek Joins $65 Million Series B for Blockchain Home Equity Loan Firm
“When you see the quality of the LPs in this fund, it speaks to the work that these infrastructure companies have done over the last 18 to 24 months,” Pompliano said.
For its first fund, Morgan Creek raised $40 million, with stronger-than-expected investor demand leading the company to exceed its initial fundraising target of $25 million.
Combined with the Digital Asset Index Fund, a crypto index fund managed by Bitwise Asset Management, Morgan Creek has more than $100 million assets under management.
“We raised the first fund for specific investments,” Pompliano said, while the $250 million fund is “more institutionally sized.”
“For the LPs that are investing with us, this is a size that they’re used to.”
Anthony Pomplianovia CoinDesk archives
• Fairfax County Invests Total of $21 Million in Blockchain VC Fund
• Two Public Pensions Anchor Morgan Creek’s New $40 Million Venture Fund || Pension Funds Put $50 Million Into Morgan Creek’s New Blockchain Fund: Morgan Creek Digital has raised the first $60.9 million tranche of its $250 million target for its second venture capital fund. Morgan Creek revealed exclusively to CoinDesk that the same institutions from the first fund, including two public pension funds, have increased their investments in the second by more than twofold. Together, Fairfax County’s Virginia’s Police Officer’s Retirement System and Employees’ Retirement System are investing a combined $50 million in the second fund, up from $21 million in its first fund that closed in February. Related: Shark Tank’s Kevin O’Leary Questions Bitcoin’s Role as ‘Safe Haven’ Commitments from other institutional investors including Wakemed Health and Hospitals, an insurance company and a university endowment make up the remaining $10 million of the tranche. In an interview with CoinDesk, Morgan Creek Capital partner Anthony Pompliano said the decision was taken to split the full $250 million raise into tranches, with no date yet set for its close. “We hear folks saying institutions aren’t interested, but this initial close along with the conversations we’re having with tens of other institutions, shows that there is no lack of interest.” The second fund will be primarily focused on seed investments in equity, like the first fund, which included investments in what Pompliano called “blockchain infrastructure” companies like Bitwise and BlockFi. Related: Morgan Creek Joins $65 Million Series B for Blockchain Home Equity Loan Firm “When you see the quality of the LPs in this fund, it speaks to the work that these infrastructure companies have done over the last 18 to 24 months,” Pompliano said. For its first fund, Morgan Creek raised $40 million, with stronger-than-expected investor demand leading the company to exceed its initial fundraising target of $25 million. Combined with the Digital Asset Index Fund, a crypto index fund managed by Bitwise Asset Management, Morgan Creek has more than $100 million assets under management. Story continues “We raised the first fund for specific investments,” Pompliano said, while the $250 million fund is “more institutionally sized.” “For the LPs that are investing with us, this is a size that they’re used to.” Anthony Pompliano via CoinDesk archives Related Stories Fairfax County Invests Total of $21 Million in Blockchain VC Fund Two Public Pensions Anchor Morgan Creek’s New $40 Million Venture Fund || Trump Administration Popped 2017 Bitcoin Bubble, Ex-CFTC Chair Says: SAN FRANCISCO — The Trump administration acted to deflate the bitcoin bubble of 2017 by allowing the introduction of futures products, a former official said Monday.
Christopher Giancarlo, who left the U.S. Commodity Futures Trading Commission (CFTC) at the end of his five-year term as chairman in April, told CoinDesk in an interview:
“One of the untold stories of the past few years is that the CFTC, the Treasury, the SEC and the [National Economic Council] director at the time, Gary Cohn, believed that the launch of bitcoin futures would have the impact of popping the bitcoin bubble. And it worked.”
Related:CFTC Chair Says Ether Futures ‘Likely’ in 2020
In a speech at the Pantera Summit in San Francisco on Monday, Giancarlo elaborated further, saying bitcoin’s dramatic price run-up in December 2017 was the first major bubble following the 2008 financial crisis. That’s why the Trump administration acted in concert to address it in a pro-markets manner, he said.
Bitcoin futures listed by the Chicago Mercantile Exchange (CME) and the CBOE Futures Exchange (CFE) were announced by the CFTC onDec. 1, 2017and went live onDec. 18. Bitcoin’s price peaked atnearly $20,000one day earlier, on Dec. 17, before falling dramatically in subsequent weeks.
“We saw a bubble building and we thought the best way to address it was to allow the market to interact with it,” Giancarlo told the crowd gathered at the Ritz-Carlton on Nob Hill.
Of course, there are different views on what ultimately brought bitcoin prices back down to Earth, reaching lows in the $3,000 range inlate 2018. However, Giancarlocited research by the San Francisco Federal Reservethat also credits the introduction of bitcoin futures for reining in a market driven by optimists.
Related:Crypto Derivatives: On Misleading Measurements
Without shorts, a market has no pessimists. “If you do believe it’s a ridiculous price but you don’t own, there’s no way to express that view,” Giancarlo told CoinDesk, adding:
“If you don’t have that derivative, then all you’ve got are believers [and] it’s a believers’ market.”
Thelack of easy ways to shorthas been cited by other researchers as propping up prices in other crypto assets.
“The CFTC staff handled it strictly on procedural grounds, but at the leadership level I communicated with Treasury Secretary [Steven] Mnuchin and NEC Director Gary Cohn, and we believed that, should bitcoin futures go forward, it would allow institutional money to bring discipline to the value of the cash market,” Giancarlo told CoinDesk. “And that’s exactly what happened.”
The bitcoin bubble of 2017 must be viewed in the context of the financial crisis of 2008, Giancarlo said.
In 2008, the former regulator was running GFI Group Inc., an over-the-counter trading desk on Wall Street that became one of the largest exchanges for credit-default swaps – the financial instrument that wreaked havoc on U.S. markets.
Giancarlo said:
“Coming out of the 2008 financial crisis, the legit criticism of regulators was along the lines of: Where were they during the expansion of the real estate mortgage bubble, and why didn’t they take steps to pop that bubble when they could have?”
That view informed regulators acting quickly on bitcoin’s ascent, he added.
To Giancarlo, the lesson was clear: Regulators mustn’t be complacent when faced with a bubble – but they must act in a way that keeps markets free. In the case of 2017, permitting bitcoin futures presented just such an opportunity.
Giancarlo concluded:
“I believe it shows the power of markets to bring discipline to prices.”
Christoper Giancarlo speaks in San Francisco, Oct. 21, 2019, photo courtesy of Pantera Blockchain Summit 2019
• CFTC Takes Action Against Crypto Options ‘Ponzi Scheme’
• Fearing USD Decline, Ex-CFTC Heads Propose a Blockchain-Based Digital Dollar || Trump Administration Popped 2017 Bitcoin Bubble, Ex-CFTC Chair Says: SAN FRANCISCO The Trump administration acted to deflate the bitcoin bubble of 2017 by allowing the introduction of futures products, a former official said Monday. Christopher Giancarlo, who left the U.S. Commodity Futures Trading Commission (CFTC) at the end of his five-year term as chairman in April, told CoinDesk in an interview: One of the untold stories of the past few years is that the CFTC, the Treasury, the SEC and the [National Economic Council] director at the time, Gary Cohn, believed that the launch of bitcoin futures would have the impact of popping the bitcoin bubble. And it worked. Related: CFTC Chair Says Ether Futures Likely in 2020 In a speech at the Pantera Summit in San Francisco on Monday, Giancarlo elaborated further, saying bitcoins dramatic price run-up in December 2017 was the first major bubble following the 2008 financial crisis. Thats why the Trump administration acted in concert to address it in a pro-markets manner, he said. Bitcoin futures listed by the Chicago Mercantile Exchange (CME) and the CBOE Futures Exchange (CFE) were announced by the CFTC on Dec. 1, 2017 and went live on Dec. 18 . Bitcoins price peaked at nearly $20,000 one day earlier, on Dec. 17, before falling dramatically in subsequent weeks. We saw a bubble building and we thought the best way to address it was to allow the market to interact with it, Giancarlo told the crowd gathered at the Ritz-Carlton on Nob Hill. Of course, there are different views on what ultimately brought bitcoin prices back down to Earth, reaching lows in the $3,000 range in late 2018 . However, Giancarlo cited research by the San Francisco Federal Reserve that also credits the introduction of bitcoin futures for reining in a market driven by optimists. Related: Crypto Derivatives: On Misleading Measurements Without shorts, a market has no pessimists. If you do believe its a ridiculous price but you dont own, theres no way to express that view, Giancarlo told CoinDesk, adding: If you dont have that derivative, then all youve got are believers [and] its a believers market. The lack of easy ways to short has been cited by other researchers as propping up prices in other crypto assets. The CFTC staff handled it strictly on procedural grounds, but at the leadership level I communicated with Treasury Secretary [Steven] Mnuchin and NEC Director Gary Cohn, and we believed that, should bitcoin futures go forward, it would allow institutional money to bring discipline to the value of the cash market, Giancarlo told CoinDesk. And thats exactly what happened. Story continues Lessons from 08 The bitcoin bubble of 2017 must be viewed in the context of the financial crisis of 2008, Giancarlo said. In 2008, the former regulator was running GFI Group Inc., an over-the-counter trading desk on Wall Street that became one of the largest exchanges for credit-default swaps the financial instrument that wreaked havoc on U.S. markets. Giancarlo said: Coming out of the 2008 financial crisis, the legit criticism of regulators was along the lines of: Where were they during the expansion of the real estate mortgage bubble, and why didnt they take steps to pop that bubble when they could have? That view informed regulators acting quickly on bitcoins ascent, he added. To Giancarlo, the lesson was clear: Regulators mustnt be complacent when faced with a bubble but they must act in a way that keeps markets free. In the case of 2017, permitting bitcoin futures presented just such an opportunity. Giancarlo concluded: I believe it shows the power of markets to bring discipline to prices. Christoper Giancarlo speaks in San Francisco, Oct. 21, 2019, photo courtesy of Pantera Blockchain Summit 2019 Related Stories CFTC Takes Action Against Crypto Options Ponzi Scheme Fearing USD Decline, Ex-CFTC Heads Propose a Blockchain-Based Digital Dollar View comments || Trump Administration Popped 2017 Bitcoin Bubble, Ex-CFTC Chair Says: SAN FRANCISCO — The Trump administration acted to deflate the bitcoin bubble of 2017 by allowing the introduction of futures products, a former official said Monday.
Christopher Giancarlo, who left the U.S. Commodity Futures Trading Commission (CFTC) at the end of his five-year term as chairman in April, told CoinDesk in an interview:
“One of the untold stories of the past few years is that the CFTC, the Treasury, the SEC and the [National Economic Council] director at the time, Gary Cohn, believed that the launch of bitcoin futures would have the impact of popping the bitcoin bubble. And it worked.”
Related:CFTC Chair Says Ether Futures ‘Likely’ in 2020
In a speech at the Pantera Summit in San Francisco on Monday, Giancarlo elaborated further, saying bitcoin’s dramatic price run-up in December 2017 was the first major bubble following the 2008 financial crisis. That’s why the Trump administration acted in concert to address it in a pro-markets manner, he said.
Bitcoin futures listed by the Chicago Mercantile Exchange (CME) and the CBOE Futures Exchange (CFE) were announced by the CFTC onDec. 1, 2017and went live onDec. 18. Bitcoin’s price peaked atnearly $20,000one day earlier, on Dec. 17, before falling dramatically in subsequent weeks.
“We saw a bubble building and we thought the best way to address it was to allow the market to interact with it,” Giancarlo told the crowd gathered at the Ritz-Carlton on Nob Hill.
Of course, there are different views on what ultimately brought bitcoin prices back down to Earth, reaching lows in the $3,000 range inlate 2018. However, Giancarlocited research by the San Francisco Federal Reservethat also credits the introduction of bitcoin futures for reining in a market driven by optimists.
Related:Crypto Derivatives: On Misleading Measurements
Without shorts, a market has no pessimists. “If you do believe it’s a ridiculous price but you don’t own, there’s no way to express that view,” Giancarlo told CoinDesk, adding:
“If you don’t have that derivative, then all you’ve got are believers [and] it’s a believers’ market.”
Thelack of easy ways to shorthas been cited by other researchers as propping up prices in other crypto assets.
“The CFTC staff handled it strictly on procedural grounds, but at the leadership level I communicated with Treasury Secretary [Steven] Mnuchin and NEC Director Gary Cohn, and we believed that, should bitcoin futures go forward, it would allow institutional money to bring discipline to the value of the cash market,” Giancarlo told CoinDesk. “And that’s exactly what happened.”
The bitcoin bubble of 2017 must be viewed in the context of the financial crisis of 2008, Giancarlo said.
In 2008, the former regulator was running GFI Group Inc., an over-the-counter trading desk on Wall Street that became one of the largest exchanges for credit-default swaps – the financial instrument that wreaked havoc on U.S. markets.
Giancarlo said:
“Coming out of the 2008 financial crisis, the legit criticism of regulators was along the lines of: Where were they during the expansion of the real estate mortgage bubble, and why didn’t they take steps to pop that bubble when they could have?”
That view informed regulators acting quickly on bitcoin’s ascent, he added.
To Giancarlo, the lesson was clear: Regulators mustn’t be complacent when faced with a bubble – but they must act in a way that keeps markets free. In the case of 2017, permitting bitcoin futures presented just such an opportunity.
Giancarlo concluded:
“I believe it shows the power of markets to bring discipline to prices.”
Christoper Giancarlo speaks in San Francisco, Oct. 21, 2019, photo courtesy of Pantera Blockchain Summit 2019
• CFTC Takes Action Against Crypto Options ‘Ponzi Scheme’
• Fearing USD Decline, Ex-CFTC Heads Propose a Blockchain-Based Digital Dollar || Could Ripple become bullish with Bitso?: Bitso , a major Mexican exchange, has received funding from Ripple, in addition to Jump Capital and Coinbase. With this new funding round completed, Bitso expects to tackle other markets like Argentina and Brazil. As recently reported by Coin Rivet, South American markets have been growing over the past few years, as local currencies devalue versus the US dollar. Hopefully, with additional exchanges offering quality services adoption will increase. In Mexico, Bitso acquired a stunning 750,000 customers in a very short period. Will the trend continue? What will be the long-term impact of Bitso in Latin America? Bitso concludes additional funding round Bitso plays a vital role in #RippleNet ’s US to MXN corridor, and we’re thrilled to expand our partnership as we broaden our reach in LatAm. https://t.co/gpPP0UGTiC — Ripple (@Ripple) October 14, 2019 The new round of financing comes at an important moment in Bitso’s history. Recently, the company became Latin America’s first licensed DLT (Digital Ledger Technology) brokerage firm and moved its operations to Gibraltar in search of a regulatory framework offering greater protection and safety for customers. Ripple believes the company plays an important role within its ecosystem. For instance, Bitso is a key player in RippleNet’s US-Mexico channel by providing liquidity for payments. In early 2019, Ripple launched ‘Liquidity on Demand’ – a service targeting stable currency liquidity – with MoneyGram in Mexico. Bitso was a major exchange partner. The companies investing in Bitso, including Ripple, are backed by Digital Group and Pantera Capital, most likely two of the most heavily invested private funds. Story continues These investment-focused organisations have bet on assets such as Bitcoin, Ethereum classic, Civic, Decentraland, Filecoin and in companies like Bakkt, Abra, Blockfolio and Chain Analysis. Is Bitso looking to expand? According to sources like Decrypt or The Block, Ripple executives underline the importance of acquiring markets like Argentina and Brazil. Ripple’s SVP of product, Asheesh Birla, said during an interview that the investment and partnership between Ripple and Bitso would be instrumental in strengthening and expanding ODL in Latin America (LATAM). The C-level executive added Ripple had always been committed to growing a strong, healthy XRP ecosystem to enable faster, cheaper global payments. Birla noted that the partnership could help further the growth of the ecosystem by offering greater liquidity for payments, when referring to Mexico. If the same logic is applied throughout other LATAM countries, one can imagine the real impact this partnership could have. Although the British Pound, the EURO and the US dollar have been quite stable during the recent past, the same cannot be said of the many local LATAM currencies. For instance, Venezuela and Argentina are currently suffering from currency devalue, and the Brazilian Real has been losing purchasing power versus the USD over the past few years. I argue the trend will most likely continue as long as the US dollar is the global reserve of value. Bringing Bitcoin and cryptocurrency to the masses! Twitter tipping with BAT is here! @brave desktop browser users can enable Brave Rewards and click the “tip” button on each tweet to send @AttentionToken directly to the author of the tweet for an amount of their choosing. #TipWithBrave https://t.co/rs0I4nSqyY — BasicAttentionToken (@AttentionToken) August 1, 2019 And it’s not only Bitso. Other projects and platforms have been helping with cryptocurrency adoption within regions where Bitcoin’s reach is less noticeable. For example, digital advertising – a key service for increased adoption – is also showing strong signs of development. The Brave browser – developed by the Basic Attention Token (BAT) team – has already acquired millions of downloads and users (like myself). The idea is that content creators can directly be rewarded by users, without any intermediaries. The concept behind Brave has been getting traction, as more and more people join the space and learn about alternative rewards systems. AdEx is a blockchain start-up that aims to revolutionise the space. The idea behind AdEx is to connect advertisers, publishers, and daily web users with a view to creating a transparent, open-source, and tamper-proof display advertising ecosystem. AdEx has created a decentralised advertising hub that is backed by the peer-to-peer benefits of blockchain technology. As the platform was built on top of the Ethereum protocol, every time a website impression is executed via AdEx, it subsequently creates a new transparent and auditable transaction. The AdEx platform is already proving to be popular with users, racking up over 9 million impressions since inception. The post Could Ripple become bullish with Bitso? appeared first on Coin Rivet . || Could Ripple become bullish with Bitso?: Bitso , a major Mexican exchange, has received funding from Ripple, in addition to Jump Capital and Coinbase. With this new funding round completed, Bitso expects to tackle other markets like Argentina and Brazil. As recently reported by Coin Rivet, South American markets have been growing over the past few years, as local currencies devalue versus the US dollar. Hopefully, with additional exchanges offering quality services adoption will increase. In Mexico, Bitso acquired a stunning 750,000 customers in a very short period. Will the trend continue? What will be the long-term impact of Bitso in Latin America? Bitso concludes additional funding round Bitso plays a vital role in #RippleNet ’s US to MXN corridor, and we’re thrilled to expand our partnership as we broaden our reach in LatAm. https://t.co/gpPP0UGTiC — Ripple (@Ripple) October 14, 2019 The new round of financing comes at an important moment in Bitso’s history. Recently, the company became Latin America’s first licensed DLT (Digital Ledger Technology) brokerage firm and moved its operations to Gibraltar in search of a regulatory framework offering greater protection and safety for customers. Ripple believes the company plays an important role within its ecosystem. For instance, Bitso is a key player in RippleNet’s US-Mexico channel by providing liquidity for payments. In early 2019, Ripple launched ‘Liquidity on Demand’ – a service targeting stable currency liquidity – with MoneyGram in Mexico. Bitso was a major exchange partner. The companies investing in Bitso, including Ripple, are backed by Digital Group and Pantera Capital, most likely two of the most heavily invested private funds. Story continues These investment-focused organisations have bet on assets such as Bitcoin, Ethereum classic, Civic, Decentraland, Filecoin and in companies like Bakkt, Abra, Blockfolio and Chain Analysis. Is Bitso looking to expand? According to sources like Decrypt or The Block, Ripple executives underline the importance of acquiring markets like Argentina and Brazil. Ripple’s SVP of product, Asheesh Birla, said during an interview that the investment and partnership between Ripple and Bitso would be instrumental in strengthening and expanding ODL in Latin America (LATAM). The C-level executive added Ripple had always been committed to growing a strong, healthy XRP ecosystem to enable faster, cheaper global payments. Birla noted that the partnership could help further the growth of the ecosystem by offering greater liquidity for payments, when referring to Mexico. If the same logic is applied throughout other LATAM countries, one can imagine the real impact this partnership could have. Although the British Pound, the EURO and the US dollar have been quite stable during the recent past, the same cannot be said of the many local LATAM currencies. For instance, Venezuela and Argentina are currently suffering from currency devalue, and the Brazilian Real has been losing purchasing power versus the USD over the past few years. I argue the trend will most likely continue as long as the US dollar is the global reserve of value. Bringing Bitcoin and cryptocurrency to the masses! Twitter tipping with BAT is here! @brave desktop browser users can enable Brave Rewards and click the “tip” button on each tweet to send @AttentionToken directly to the author of the tweet for an amount of their choosing. #TipWithBrave https://t.co/rs0I4nSqyY — BasicAttentionToken (@AttentionToken) August 1, 2019 And it’s not only Bitso. Other projects and platforms have been helping with cryptocurrency adoption within regions where Bitcoin’s reach is less noticeable. For example, digital advertising – a key service for increased adoption – is also showing strong signs of development. The Brave browser – developed by the Basic Attention Token (BAT) team – has already acquired millions of downloads and users (like myself). The idea is that content creators can directly be rewarded by users, without any intermediaries. The concept behind Brave has been getting traction, as more and more people join the space and learn about alternative rewards systems. AdEx is a blockchain start-up that aims to revolutionise the space. The idea behind AdEx is to connect advertisers, publishers, and daily web users with a view to creating a transparent, open-source, and tamper-proof display advertising ecosystem. AdEx has created a decentralised advertising hub that is backed by the peer-to-peer benefits of blockchain technology. As the platform was built on top of the Ethereum protocol, every time a website impression is executed via AdEx, it subsequently creates a new transparent and auditable transaction. The AdEx platform is already proving to be popular with users, racking up over 9 million impressions since inception. The post Could Ripple become bullish with Bitso? appeared first on Coin Rivet . || US Lawmaker Introduces Bill Classifying Stablecoins as Securities: Congress may consider a bill to classify stablecoins – cryptocurrencies whose values are pegged to a fiat currency or other assets – as securities.
Ina draft bill published Tuesday, Rep. Sylvia Garcia (D-Texas) introduced legislation to the House Financial Services Committee to regulate stablecoins under the Securities Act of 1933, seeking to provide clarity in an area the bill suggests lacks regulatory guidance.
The bill states:
Related:Former World Gold Council Exec Develops New Bitcoin ETF
The proposed legislation appears to be a response to the Facebook-led Libra cryptocurrency, which the social media giant introduced in June 2019. The cryptocurrency is meant to be a stablecoin pegged to a basket of fiat currencies.
Lawmakers have urged Facebook and its partners not to launch Libra – and indeed, to halt all development entirely – until regulatory questions around the project and its governance can be resolved.
Facebook CEO Mark Zuckerberg is scheduled to testify before the committee on Wednesday.
Related:Zuckerberg to Tell Congress: Libra Can Fix ‘Failing’ Financial System
If signed into law, the rule would give the U.S. Securities and Exchange Commission (SEC) jurisdictional authority over all stablecoins and their issuers.
The bill’s introduction does not mean it will ever become law: First, it would need to be voted out of committee, passed by the House of Representatives, taken up and passed by the Senate and signed into law by the U.S. President. It is unclear what sort of support the bill has at present.
However, former Commodity Futures Trading Commission (CFTC) Chairman Gary Gensler believes Libra already looks like a security, testifying before the Financial Services Committee in July that the project looks similar to an exchange-traded fund, which does fall within the SEC’s purview.
The bill was introduced jointly withanother draft billsponsored by Rep. Michael San Nicolas (D-Guam), which would bar national security exchanges from listing a security by an issuer if the issuer or an executive affiliated with it received compensation in the form of a managed stablecoin.
U.S. Congressimage via Shutterstock
• Facebook Risks Banking Ties Over Libra Concerns, Says ING Exec
• Facebook’s Marcus Says China Wins With Digital Renminbi if US Nixes Libra || US Lawmaker Introduces Bill Classifying Stablecoins as Securities: Congress may consider a bill to classify stablecoins – cryptocurrencies whose values are pegged to a fiat currency or other assets – as securities. In a draft bill published Tuesday , Rep. Sylvia Garcia (D-Texas) introduced legislation to the House Financial Services Committee to regulate stablecoins under the Securities Act of 1933, seeking to provide clarity in an area the bill suggests lacks regulatory guidance. The bill states: Related: Former World Gold Council Exec Develops New Bitcoin ETF “The market value of such digital asset is determined, in whole or in significant part, directly or indirectly, by reference to the value of a pool or basket of assets, including digital assets, held, designated, or managed by one or more persons.” The proposed legislation appears to be a response to the Facebook-led Libra cryptocurrency, which the social media giant introduced in June 2019. The cryptocurrency is meant to be a stablecoin pegged to a basket of fiat currencies. Lawmakers have urged Facebook and its partners not to launch Libra – and indeed, to halt all development entirely – until regulatory questions around the project and its governance can be resolved. Facebook CEO Mark Zuckerberg is scheduled to testify before the committee on Wednesday. Related: Zuckerberg to Tell Congress: Libra Can Fix ‘Failing’ Financial System If signed into law, the rule would give the U.S. Securities and Exchange Commission (SEC) jurisdictional authority over all stablecoins and their issuers. The bill’s introduction does not mean it will ever become law: First, it would need to be voted out of committee, passed by the House of Representatives, taken up and passed by the Senate and signed into law by the U.S. President. It is unclear what sort of support the bill has at present. However, former Commodity Futures Trading Commission (CFTC) Chairman Gary Gensler believes Libra already looks like a security, testifying before the Financial Services Committee in July that the project looks similar to an exchange-traded fund, which does fall within the SEC’s purview. Story continues The bill was introduced jointly with another draft bill sponsored by Rep. Michael San Nicolas (D-Guam), which would bar national security exchanges from listing a security by an issuer if the issuer or an executive affiliated with it received compensation in the form of a managed stablecoin. U.S. Congress image via Shutterstock Related Stories Facebook Risks Banking Ties Over Libra Concerns, Says ING Exec Facebook’s Marcus Says China Wins With Digital Renminbi if US Nixes Libra || Why Bitmain Is Building the World’s Largest Bitcoin Mine in Rural Texas: The Takeaway
• Bitmain, the world’s largest maker of bitcoin-mining computers, chose an old Alcoa aluminum-smelting plant in Rockdale, Texas, for a new bitcoin mine.
• The Beijing company says the plant has an initial power size of 25 megawatts but will be expanded to 50 megawatts and potentially 300 megawatts.
• Texas has an abundance of power resources, so the new plant is unlikely to affect local electricity prices, say officials.
ROCKDALE, TEXAS – In the concrete-and-iron shell of a mostly-abandoned Alcoa aluminum smelter, Chinese and Canadian executives in business suits mingled with local residents in cowboy hats and baseball caps.
They assembled, just outside the town of Rockdale, in the central-Texas countryside, to celebrate the opening of a new bitcoin-mining plant constructed by Beijing-based Bitmain, the world’s largest manufacturer of computers designed to mine cryptocurrency.
Related:Peter Thiel Backs $200 Million Valuation for Renewable Bitcoin Mining in the US
County Judge Steve Young, the top elected official in rural Milam County, kneeled to snap photos. Tao Wu, an Arizona-based Bitmain executive sporting a thin bolo tie, gave a tour to curious local residents and journalists, shouting over the whirring of thousands of cooling fans.
“There’s going to be jobs, there’s going to be revenue,” Rockdale Mayor John King told the entourage during a ribbon-cutting ceremony. “We’re going to see great things coming in the future.”
Many of the locals on the tour had little if any idea how bitcoin mining worked, or even what bitcoin was.
“How do I monetize that?” said one person on the tour. “It’s not tangible.”
Related:Next Bitcoin Halving Could Squeeze out Retail Miners, But Jury’s Split on Price
Texas, long known for its bountiful commodities, from cotton to crude oil, is now drawing a new breed of speculators in search of bitcoin, invented just a decade ago.
Tao Wu, director of integrated solutions for Bitmain, shows off a bank of bitcoin-mining computers, the length of three football fields.
Bitmain says its operation in the state, which is flush with cheap electricity and plenty of space, represents an alluring opportunity – especially after prices for the cryptocurrency more than doubled this year to about $8,200.
In 2018, the company inked a deal with local officials to set up a bank of computers inside the Alcoa plant to mine bitcoin. Thousands of processing units run 24 hours a day, sending trillions of numbers per second via the Internet to mine bitcoin. The configuration has roughly the height and width of a railroad boxcar but extends in length for three football fields.
Bitmain declined to disclose the cost to build its new facility or the total bitcoin that it will produce. It did reveal that the plant during its initial phase will use 25 megawatts of electricity, the same amount as about 20,000 average U.S. households. The company says it plans to build out the plant to use 50 megawatts, and that eventually capacity could reach 300 megawatts, making it the world’s largest bitcoin mine.
Cryptocurrency-industry officials familiar with the technology say a 50-megawatt bitcoin mine would cost about $80 million to $100 million to build. Using the rated specifications on Bitmain’s Antminer S17 Pro mining computers, along with the website CryptoCompare’s mining profitability calculator, the Rockdale facility could generate an estimated $73 million of revenue per year, based on current prices. The only main input for these mines is electricity, and among U.S. states, Texas has the fourth-lowest power costs for industrial customers, according to government data.
The project was initiated last year, then shelved in early-2019 after bitcoin prices tumbled roughly 75 percent from their 2018 highs. As prices rebounded this year, Bitmain rushed to start up production.
“Once the price turned around, we ramped up,” says Clint Brown, 54, a former construction contractor, who now serves as a Bitmain project manager. “And it was like, ‘hurry up, we need to get this done.’”
Executives involved with the new Bitmain plant, after a barbecue luncheon at the Rockdale Country Club.
The new Texas facility is Bitmain’s largest-ever mining project to date, the company’s managing director for marketing, Bill Zhu, said in an interview under a shady tree outside the nearby Rockdale Country Club. The company’s signature product is its line of Antminer computers. Officials said the new Rockdale site is named Dory Creek, after the ant genus Dorylus, which includes driver ants from southern Africa.
Zhu responded to a concern expressed by some local residents that the new facility might quickly be shuttered if the bitcoin market suffers a downturn; people in these parts are all too familiar with commodity cycles.
“We really can find some good resources in North America, and then we pick up Texas, and we think these resources are good enough to invest in for the long term,” he said, adding:
“Our investment is not so sensitive to the bitcoin price. We don’t care so much how much it is next month. We care three years from now how much it is.”
The project has caused a stir in Rockdale (population: 5,595) which was hit hard in late-2008 when the giant Alcoa smelting facility closed down, leading to the loss of more than a thousand jobs.
On Friday morning, a group of former Alcoa workers assembled for morning coffee and breakfast at Lee’s Landing, a diner where the walls are adorned with country implements including a pitchfork and set of stirrups. A sign in the bathroom reads, “Give a man a fish and he will eat for a day. Teach a man to fish and he will sit in a boat and drink all day.”
One of the men at Lee’s, Royce Hudson, 73, said he got out of the Marines in November 1967, returning to central Texas and a job at the Alcoa smelter. He worked there for the next four decades, becoming a furnace operator, until he retired in 2008 when the facility closed, he said.
These days, he laments the fate of the local community, where the next generation is finding jobs harder to come by, and many people endure long commutes to work in Austin, Round Rock, Temple and Bryan-College Station.
Hudson says he’s happy that Bitmain is investing in the community, though he admits to knowing very little about what they do: “People are a little skeptical, because nobody really understands how it works,” he says, declining to have his coffee refilled. “We’re just not technically advanced enough.”
One of his former colleagues from the plant remarked that he couldn’t understand why there was nothing shipping out of the new plant, in the way that aluminum ingots used to issue forth from the old smelter.
The reality is that bitcoin mines represent a new type of industrial facility, with a glaring absence of heavy machinery and spewing little to no pollution, aside from the sizable emissions from the associated power generation. The output — the mined bitcoin — is delivered virtually, and almost instantaneously.
Royce Hudson, right, says locals are “skeptical” of the new Bitmain project because they don’t fully understand what bitcoin is, or how it works.
In some other states where bitcoin mining projects have gone in, including Washington, residents have complained that their monthly electricity bills shot up because of the added demand on the local grid.
Texas, by contrast, has a big enough electricity market — the biggest in the U.S. — that it can absorb new users. The state’s total annual power consumption is more than 50 percent higher than that of second-place California, according to the U.S. Energy Information Administration.
Power prices are held in check by the state’s abundant local supply of natural gas, used to fuel generators, as well as by the relative isolation of the state’s electric-transmission network from the rest of the nation’s, on a grid known as the Electric Reliability Council of Texas. For the most part, whatever gets generated in the state, stays in the state. It doesn’t hurt that most Texas cities and towns feature a competitive electricity market, so businesses and households can shop around for a good deal.
Greg Pendley, president of CGP Solutions, a Houston-based energy consultant who helps big wholesale power purchasers find suppliers, says he often arranges deals for governments where the contract size can range from 5 megawatts to 8 megawatts. His point was that the Bitmain account is quite large.
The project has another unique attribute, he noted: “100 percent load.” Unlike some factories or government offices that might throttle back on power usage at night, when workers go off shift, Bitmain’s computers are constantly working.
“With this kind of industry, they’re looking for bitcoin, so they don’t make money if they’re not running,” Pendley said in an interview at the plant, where he joined the tour.
The facilities are light on employment compared with big factories or auto-assembly plants whose personnel can easily run into the thousands. Bitmain currently operates the Rockdale mine with a staff of fewer than 50 people.
“Once you get it up and running, it doesn’t take that many guys,” says Sheldon Bennett, chief operating officer of the Canadian company DMG Blockchain Solutions, which manages the new plant under a contract with Bitmain.
King, the mayor, said in an interview that the project looked pretty good to him, even after Bitmain won tax abatements from the county government.
It’s all in the name of economic development — a well-honed instinct in a business-friendly state like Texas that has never been shy about monetizing its natural resources for profit.
“If they’re housing people locally, and they’re shopping locally, we’re going to benefit,” King says. “It’s the first step in trying to regrow our economy.”
Images via Brad Keoun
• Uzbekistan Plans Massive Hike in Electricity Prices for Crypto Miners
• WATCH: Inside a Siberian Crypto Mining Complex || Why Bitmain Is Building the World’s Largest Bitcoin Mine in Rural Texas: The Takeaway Bitmain, the world’s largest maker of bitcoin-mining computers, chose an old Alcoa aluminum-smelting plant in Rockdale, Texas, for a new bitcoin mine. The Beijing company says the plant has an initial power size of 25 megawatts but will be expanded to 50 megawatts and potentially 300 megawatts. Texas has an abundance of power resources, so the new plant is unlikely to affect local electricity prices, say officials. ROCKDALE, TEXAS – In the concrete-and-iron shell of a mostly-abandoned Alcoa aluminum smelter, Chinese and Canadian executives in business suits mingled with local residents in cowboy hats and baseball caps. They assembled, just outside the town of Rockdale, in the central-Texas countryside, to celebrate the opening of a new bitcoin-mining plant constructed by Beijing-based Bitmain, the world’s largest manufacturer of computers designed to mine cryptocurrency. Related: Peter Thiel Backs $200 Million Valuation for Renewable Bitcoin Mining in the US County Judge Steve Young, the top elected official in rural Milam County, kneeled to snap photos. Tao Wu, an Arizona-based Bitmain executive sporting a thin bolo tie, gave a tour to curious local residents and journalists, shouting over the whirring of thousands of cooling fans. “There’s going to be jobs, there’s going to be revenue,” Rockdale Mayor John King told the entourage during a ribbon-cutting ceremony. “We’re going to see great things coming in the future.” Many of the locals on the tour had little if any idea how bitcoin mining worked, or even what bitcoin was. “How do I monetize that?” said one person on the tour. “It’s not tangible.” Related: Next Bitcoin Halving Could Squeeze out Retail Miners, But Jury’s Split on Price Texas, long known for its bountiful commodities, from cotton to crude oil, is now drawing a new breed of speculators in search of bitcoin, invented just a decade ago. Tao Wu, director of integrated solutions for Bitmain, shows off a bank of bitcoin-mining computers, the length of three football fields. Story continues Bitmain says its operation in the state, which is flush with cheap electricity and plenty of space, represents an alluring opportunity – especially after prices for the cryptocurrency more than doubled this year to about $8,200. In 2018, the company inked a deal with local officials to set up a bank of computers inside the Alcoa plant to mine bitcoin. Thousands of processing units run 24 hours a day, sending trillions of numbers per second via the Internet to mine bitcoin. The configuration has roughly the height and width of a railroad boxcar but extends in length for three football fields. Bitmain declined to disclose the cost to build its new facility or the total bitcoin that it will produce. It did reveal that the plant during its initial phase will use 25 megawatts of electricity, the same amount as about 20,000 average U.S. households. The company says it plans to build out the plant to use 50 megawatts, and that eventually capacity could reach 300 megawatts, making it the world’s largest bitcoin mine. Cryptocurrency-industry officials familiar with the technology say a 50-megawatt bitcoin mine would cost about $80 million to $100 million to build. Using the rated specifications on Bitmain’s Antminer S17 Pro mining computers, along with the website CryptoCompare’s mining profitability calculator, the Rockdale facility could generate an estimated $73 million of revenue per year, based on current prices. The only main input for these mines is electricity, and among U.S. states, Texas has the fourth-lowest power costs for industrial customers, according to government data. The project was initiated last year, then shelved in early-2019 after bitcoin prices tumbled roughly 75 percent from their 2018 highs. As prices rebounded this year, Bitmain rushed to start up production. “Once the price turned around, we ramped up,” says Clint Brown, 54, a former construction contractor, who now serves as a Bitmain project manager. “And it was like, ‘hurry up, we need to get this done.’” Executives involved with the new Bitmain plant, after a barbecue luncheon at the Rockdale Country Club. The new Texas facility is Bitmain’s largest-ever mining project to date, the company’s managing director for marketing, Bill Zhu, said in an interview under a shady tree outside the nearby Rockdale Country Club. The company’s signature product is its line of Antminer computers. Officials said the new Rockdale site is named Dory Creek, after the ant genus Dorylus, which includes driver ants from southern Africa. Zhu responded to a concern expressed by some local residents that the new facility might quickly be shuttered if the bitcoin market suffers a downturn; people in these parts are all too familiar with commodity cycles. “We really can find some good resources in North America, and then we pick up Texas, and we think these resources are good enough to invest in for the long term,” he said, adding: “Our investment is not so sensitive to the bitcoin price. We don’t care so much how much it is next month. We care three years from now how much it is.” The project has caused a stir in Rockdale (population: 5,595) which was hit hard in late-2008 when the giant Alcoa smelting facility closed down, leading to the loss of more than a thousand jobs. On Friday morning, a group of former Alcoa workers assembled for morning coffee and breakfast at Lee’s Landing, a diner where the walls are adorned with country implements including a pitchfork and set of stirrups. A sign in the bathroom reads, “Give a man a fish and he will eat for a day. Teach a man to fish and he will sit in a boat and drink all day.” Locals skeptical One of the men at Lee’s, Royce Hudson, 73, said he got out of the Marines in November 1967, returning to central Texas and a job at the Alcoa smelter. He worked there for the next four decades, becoming a furnace operator, until he retired in 2008 when the facility closed, he said. These days, he laments the fate of the local community, where the next generation is finding jobs harder to come by, and many people endure long commutes to work in Austin, Round Rock, Temple and Bryan-College Station. Hudson says he’s happy that Bitmain is investing in the community, though he admits to knowing very little about what they do: “People are a little skeptical, because nobody really understands how it works,” he says, declining to have his coffee refilled. “We’re just not technically advanced enough.” One of his former colleagues from the plant remarked that he couldn’t understand why there was nothing shipping out of the new plant, in the way that aluminum ingots used to issue forth from the old smelter. The reality is that bitcoin mines represent a new type of industrial facility, with a glaring absence of heavy machinery and spewing little to no pollution, aside from the sizable emissions from the associated power generation. The output — the mined bitcoin — is delivered virtually, and almost instantaneously. Royce Hudson, right, says locals are “skeptical” of the new Bitmain project because they don’t fully understand what bitcoin is, or how it works. In some other states where bitcoin mining projects have gone in, including Washington, residents have complained that their monthly electricity bills shot up because of the added demand on the local grid. Texas, by contrast, has a big enough electricity market — the biggest in the U.S. — that it can absorb new users. The state’s total annual power consumption is more than 50 percent higher than that of second-place California, according to the U.S. Energy Information Administration. Cheap power Power prices are held in check by the state’s abundant local supply of natural gas, used to fuel generators, as well as by the relative isolation of the state’s electric-transmission network from the rest of the nation’s, on a grid known as the Electric Reliability Council of Texas. For the most part, whatever gets generated in the state, stays in the state. It doesn’t hurt that most Texas cities and towns feature a competitive electricity market, so businesses and households can shop around for a good deal. Greg Pendley, president of CGP Solutions, a Houston-based energy consultant who helps big wholesale power purchasers find suppliers, says he often arranges deals for governments where the contract size can range from 5 megawatts to 8 megawatts. His point was that the Bitmain account is quite large. The project has another unique attribute, he noted: “100 percent load.” Unlike some factories or government offices that might throttle back on power usage at night, when workers go off shift, Bitmain’s computers are constantly working. “With this kind of industry, they’re looking for bitcoin, so they don’t make money if they’re not running,” Pendley said in an interview at the plant, where he joined the tour. The facilities are light on employment compared with big factories or auto-assembly plants whose personnel can easily run into the thousands. Bitmain currently operates the Rockdale mine with a staff of fewer than 50 people. “Once you get it up and running, it doesn’t take that many guys,” says Sheldon Bennett, chief operating officer of the Canadian company DMG Blockchain Solutions, which manages the new plant under a contract with Bitmain. King, the mayor, said in an interview that the project looked pretty good to him, even after Bitmain won tax abatements from the county government. It’s all in the name of economic development — a well-honed instinct in a business-friendly state like Texas that has never been shy about monetizing its natural resources for profit. “If they’re housing people locally, and they’re shopping locally, we’re going to benefit,” King says. “It’s the first step in trying to regrow our economy.” Images via Brad Keoun Related Stories Uzbekistan Plans Massive Hike in Electricity Prices for Crypto Miners WATCH: Inside a Siberian Crypto Mining Complex || Why Bitmain Is Building the World’s Largest Bitcoin Mine in Rural Texas: The Takeaway
• Bitmain, the world’s largest maker of bitcoin-mining computers, chose an old Alcoa aluminum-smelting plant in Rockdale, Texas, for a new bitcoin mine.
• The Beijing company says the plant has an initial power size of 25 megawatts but will be expanded to 50 megawatts and potentially 300 megawatts.
• Texas has an abundance of power resources, so the new plant is unlikely to affect local electricity prices, say officials.
ROCKDALE, TEXAS – In the concrete-and-iron shell of a mostly-abandoned Alcoa aluminum smelter, Chinese and Canadian executives in business suits mingled with local residents in cowboy hats and baseball caps.
They assembled, just outside the town of Rockdale, in the central-Texas countryside, to celebrate the opening of a new bitcoin-mining plant constructed by Beijing-based Bitmain, the world’s largest manufacturer of computers designed to mine cryptocurrency.
Related:Peter Thiel Backs $200 Million Valuation for Renewable Bitcoin Mining in the US
County Judge Steve Young, the top elected official in rural Milam County, kneeled to snap photos. Tao Wu, an Arizona-based Bitmain executive sporting a thin bolo tie, gave a tour to curious local residents and journalists, shouting over the whirring of thousands of cooling fans.
“There’s going to be jobs, there’s going to be revenue,” Rockdale Mayor John King told the entourage during a ribbon-cutting ceremony. “We’re going to see great things coming in the future.”
Many of the locals on the tour had little if any idea how bitcoin mining worked, or even what bitcoin was.
“How do I monetize that?” said one person on the tour. “It’s not tangible.”
Related:Next Bitcoin Halving Could Squeeze out Retail Miners, But Jury’s Split on Price
Texas, long known for its bountiful commodities, from cotton to crude oil, is now drawing a new breed of speculators in search of bitcoin, invented just a decade ago.
Tao Wu, director of integrated solutions for Bitmain, shows off a bank of bitcoin-mining computers, the length of three football fields.
Bitmain says its operation in the state, which is flush with cheap electricity and plenty of space, represents an alluring opportunity – especially after prices for the cryptocurrency more than doubled this year to about $8,200.
In 2018, the company inked a deal with local officials to set up a bank of computers inside the Alcoa plant to mine bitcoin. Thousands of processing units run 24 hours a day, sending trillions of numbers per second via the Internet to mine bitcoin. The configuration has roughly the height and width of a railroad boxcar but extends in length for three football fields.
Bitmain declined to disclose the cost to build its new facility or the total bitcoin that it will produce. It did reveal that the plant during its initial phase will use 25 megawatts of electricity, the same amount as about 20,000 average U.S. households. The company says it plans to build out the plant to use 50 megawatts, and that eventually capacity could reach 300 megawatts, making it the world’s largest bitcoin mine.
Cryptocurrency-industry officials familiar with the technology say a 50-megawatt bitcoin mine would cost about $80 million to $100 million to build. Using the rated specifications on Bitmain’s Antminer S17 Pro mining computers, along with the website CryptoCompare’s mining profitability calculator, the Rockdale facility could generate an estimated $73 million of revenue per year, based on current prices. The only main input for these mines is electricity, and among U.S. states, Texas has the fourth-lowest power costs for industrial customers, according to government data.
The project was initiated last year, then shelved in early-2019 after bitcoin prices tumbled roughly 75 percent from their 2018 highs. As prices rebounded this year, Bitmain rushed to start up production.
“Once the price turned around, we ramped up,” says Clint Brown, 54, a former construction contractor, who now serves as a Bitmain project manager. “And it was like, ‘hurry up, we need to get this done.’”
Executives involved with the new Bitmain plant, after a barbecue luncheon at the Rockdale Country Club.
The new Texas facility is Bitmain’s largest-ever mining project to date, the company’s managing director for marketing, Bill Zhu, said in an interview under a shady tree outside the nearby Rockdale Country Club. The company’s signature product is its line of Antminer computers. Officials said the new Rockdale site is named Dory Creek, after the ant genus Dorylus, which includes driver ants from southern Africa.
Zhu responded to a concern expressed by some local residents that the new facility might quickly be shuttered if the bitcoin market suffers a downturn; people in these parts are all too familiar with commodity cycles.
“We really can find some good resources in North America, and then we pick up Texas, and we think these resources are good enough to invest in for the long term,” he said, adding:
“Our investment is not so sensitive to the bitcoin price. We don’t care so much how much it is next month. We care three years from now how much it is.”
The project has caused a stir in Rockdale (population: 5,595) which was hit hard in late-2008 when the giant Alcoa smelting facility closed down, leading to the loss of more than a thousand jobs.
On Friday morning, a group of former Alcoa workers assembled for morning coffee and breakfast at Lee’s Landing, a diner where the walls are adorned with country implements including a pitchfork and set of stirrups. A sign in the bathroom reads, “Give a man a fish and he will eat for a day. Teach a man to fish and he will sit in a boat and drink all day.”
One of the men at Lee’s, Royce Hudson, 73, said he got out of the Marines in November 1967, returning to central Texas and a job at the Alcoa smelter. He worked there for the next four decades, becoming a furnace operator, until he retired in 2008 when the facility closed, he said.
These days, he laments the fate of the local community, where the next generation is finding jobs harder to come by, and many people endure long commutes to work in Austin, Round Rock, Temple and Bryan-College Station.
Hudson says he’s happy that Bitmain is investing in the community, though he admits to knowing very little about what they do: “People are a little skeptical, because nobody really understands how it works,” he says, declining to have his coffee refilled. “We’re just not technically advanced enough.”
One of his former colleagues from the plant remarked that he couldn’t understand why there was nothing shipping out of the new plant, in the way that aluminum ingots used to issue forth from the old smelter.
The reality is that bitcoin mines represent a new type of industrial facility, with a glaring absence of heavy machinery and spewing little to no pollution, aside from the sizable emissions from the associated power generation. The output — the mined bitcoin — is delivered virtually, and almost instantaneously.
Royce Hudson, right, says locals are “skeptical” of the new Bitmain project because they don’t fully understand what bitcoin is, or how it works.
In some other states where bitcoin mining projects have gone in, including Washington, residents have complained that their monthly electricity bills shot up because of the added demand on the local grid.
Texas, by contrast, has a big enough electricity market — the biggest in the U.S. — that it can absorb new users. The state’s total annual power consumption is more than 50 percent higher than that of second-place California, according to the U.S. Energy Information Administration.
Power prices are held in check by the state’s abundant local supply of natural gas, used to fuel generators, as well as by the relative isolation of the state’s electric-transmission network from the rest of the nation’s, on a grid known as the Electric Reliability Council of Texas. For the most part, whatever gets generated in the state, stays in the state. It doesn’t hurt that most Texas cities and towns feature a competitive electricity market, so businesses and households can shop around for a good deal.
Greg Pendley, president of CGP Solutions, a Houston-based energy consultant who helps big wholesale power purchasers find suppliers, says he often arranges deals for governments where the contract size can range from 5 megawatts to 8 megawatts. His point was that the Bitmain account is quite large.
The project has another unique attribute, he noted: “100 percent load.” Unlike some factories or government offices that might throttle back on power usage at night, when workers go off shift, Bitmain’s computers are constantly working.
“With this kind of industry, they’re looking for bitcoin, so they don’t make money if they’re not running,” Pendley said in an interview at the plant, where he joined the tour.
The facilities are light on employment compared with big factories or auto-assembly plants whose personnel can easily run into the thousands. Bitmain currently operates the Rockdale mine with a staff of fewer than 50 people.
“Once you get it up and running, it doesn’t take that many guys,” says Sheldon Bennett, chief operating officer of the Canadian company DMG Blockchain Solutions, which manages the new plant under a contract with Bitmain.
King, the mayor, said in an interview that the project looked pretty good to him, even after Bitmain won tax abatements from the county government.
It’s all in the name of economic development — a well-honed instinct in a business-friendly state like Texas that has never been shy about monetizing its natural resources for profit.
“If they’re housing people locally, and they’re shopping locally, we’re going to benefit,” King says. “It’s the first step in trying to regrow our economy.”
Images via Brad Keoun
• Uzbekistan Plans Massive Hike in Electricity Prices for Crypto Miners
• WATCH: Inside a Siberian Crypto Mining Complex || Crypto brokerage Bitcoin Suisse invests $3M in trading software provider CoinRoutes: Cryptocurrency brokerage and custodian Bitcoin Suisse has invested $3 million in trading software provider CoinRoutes. Announcing the news on Tuesday, Bitcoin Suisse said it has acquired a “sizeable minority" stake in CoinRoutes’ U.S. unit with the investment. It did not disclose the percentage of the stake acquisition. CoinRoutes’ algorithmic trading software, which sources cryptocurrency price data from over 40 exchanges, is the primary reason for the investment. “We have been absolutely satisfied with [“CoinRoutes’] technology for the past year,” said Niklas Nikolajsen, chairman of the Bitcoin Suisse Group. Technology provided by CoinRoutes allows Bitcoin Suisse to execute trades at the “best prices across all major crypto asset exchanges,” per the announcement. As part of the investment, Nikolajsen is also joining the board of directors of both CoinRoutes’s U.S. and Switzerland units. || Crypto brokerage Bitcoin Suisse invests $3M in trading software provider CoinRoutes: Cryptocurrency brokerage and custodian Bitcoin Suisse has invested $3 million in trading software provider CoinRoutes. Announcing the news on Tuesday, Bitcoin Suisse said it has acquired a “sizeable minority" stake in CoinRoutes’ U.S. unit with the investment. It did not disclose the percentage of the stake acquisition. CoinRoutes’ algorithmic trading software, which sources cryptocurrency price data from over 40 exchanges, is the primary reason for the investment. “We have been absolutely satisfied with [“CoinRoutes’] technology for the past year,” said Niklas Nikolajsen, chairman of the Bitcoin Suisse Group. Technology provided by CoinRoutes allows Bitcoin Suisse to execute trades at the “best prices across all major crypto asset exchanges,” per the announcement. As part of the investment, Nikolajsen is also joining the board of directors of both CoinRoutes’s U.S. and Switzerland units. || Crypto brokerage Bitcoin Suisse invests $3M in trading software provider CoinRoutes: Cryptocurrency brokerage and custodian Bitcoin Suisse has invested $3 million in trading software provider CoinRoutes. Announcing the news on Tuesday, Bitcoin Suisse said it has acquired a “sizeable minority" stake in CoinRoutes’ U.S. unit with the investment. It did not disclose the percentage of the stake acquisition. CoinRoutes’ algorithmic trading software, which sources cryptocurrency price data from over 40 exchanges, is the primary reason for the investment. “We have been absolutely satisfied with [“CoinRoutes’] technology for the past year,” said Niklas Nikolajsen, chairman of the Bitcoin Suisse Group. Technology provided by CoinRoutes allows Bitcoin Suisse to execute trades at the “best prices across all major crypto asset exchanges,” per the announcement. As part of the investment, Nikolajsen is also joining the board of directors of both CoinRoutes’s U.S. and Switzerland units. || A form of offline payments is being developed for Bitcoin’s Lightning Network: Lightning Rod, a new offline-style payments protocol for the Bitcoin Lightning Network, will enable users to make Lightning payments to a payee without their mobile nodes being online at the same time.
Developed by Bitcoin payments startupBreez, Lightning Rod delivers a “Venmo-like user experience” for the Lightning Network, according to Breez CEO Roy Sheinfeld. “There won’t be a need for two mobile nodes (payer and payee) to be online at the same time in order to send or receive Lightning payments,” he toldDecrypt. The firm has released the protocolopen-source, and is planning to integrate the new functionality into its iOS and Android payment apps by the end of this year.
The new functionality is being developed specifically for payments made on theLightning Network—adecentralizedsystem for instant and high-volumeBitcoinmicropayments. The network allows payments as low as 1satoshi(worth $0.00008) to be sent across payment channels that distributed across the network today. Over the last few months, the network has surged back intogrowthwith the number of network nodes recentlyhitting 10,000.
Currently, to make a bitcoin payment across the Lightning network, both the payer and payee need to be online and have their network nodes connected to each other. The new protocol works by routing a Lightning network payment through an intermediate node. This intermediate node is always online and can securely forward a payment without needing that the payer and the payee maintain an active connection to the network.
Sheinfeld said he would not describe the functionality as “offline Lightning payments” but as the “ability to pay someone and go offline right after you’ve sent the payment”—so the payee is offline during the payment. “It’s the difference between a phone call and text messaging,” he said. “One requires both parties to be online at the same time, the other doesn’t.
Although it’s normally not an issue whether both nodes are online in a transaction, if payments can be sent across a protocol where at least the payee is offline, it could open up the door for a much-improved UX for payments made across Bitcoin’s layer-two scaling solution. || A form of offline payments is being developed for Bitcoin’s Lightning Network: Lightning Rod, a new offline-style payments protocol for the Bitcoin Lightning Network, will enable users to make Lightning payments to a payee without their mobile nodes being online at the same time.
Developed by Bitcoin payments startupBreez, Lightning Rod delivers a “Venmo-like user experience” for the Lightning Network, according to Breez CEO Roy Sheinfeld. “There won’t be a need for two mobile nodes (payer and payee) to be online at the same time in order to send or receive Lightning payments,” he toldDecrypt. The firm has released the protocolopen-source, and is planning to integrate the new functionality into its iOS and Android payment apps by the end of this year.
The new functionality is being developed specifically for payments made on theLightning Network—adecentralizedsystem for instant and high-volumeBitcoinmicropayments. The network allows payments as low as 1satoshi(worth $0.00008) to be sent across payment channels that distributed across the network today. Over the last few months, the network has surged back intogrowthwith the number of network nodes recentlyhitting 10,000.
Currently, to make a bitcoin payment across the Lightning network, both the payer and payee need to be online and have their network nodes connected to each other. The new protocol works by routing a Lightning network payment through an intermediate node. This intermediate node is always online and can securely forward a payment without needing that the payer and the payee maintain an active connection to the network.
Sheinfeld said he would not describe the functionality as “offline Lightning payments” but as the “ability to pay someone and go offline right after you’ve sent the payment”—so the payee is offline during the payment. “It’s the difference between a phone call and text messaging,” he said. “One requires both parties to be online at the same time, the other doesn’t.
Although it’s normally not an issue whether both nodes are online in a transaction, if payments can be sent across a protocol where at least the payee is offline, it could open up the door for a much-improved UX for payments made across Bitcoin’s layer-two scaling solution. || A form of offline payments is being developed for Bitcoin’s Lightning Network: Lightning Rod, a new offline-style payments protocol for the Bitcoin Lightning Network, will enable users to make Lightning payments to a payee without their mobile nodes being online at the same time. Developed by Bitcoin payments startup Breez , Lightning Rod delivers a “Venmo-like user experience” for the Lightning Network, according to Breez CEO Roy Sheinfeld. “There won’t be a need for two mobile nodes (payer and payee) to be online at the same time in order to send or receive Lightning payments,” he told Decrypt . The firm has released the protocol open-source , and is planning to integrate the new functionality into its iOS and Android payment apps by the end of this year. The new functionality is being developed specifically for payments made on the Lightning Network —a decentralized system for instant and high-volume Bitcoin micropayments. The network allows payments as low as 1 satoshi (worth $0.00008) to be sent across payment channels that distributed across the network today. Over the last few months, the network has surged back into growth with the number of network nodes recently hitting 10,000 . Currently, to make a bitcoin payment across the Lightning network, both the payer and payee need to be online and have their network nodes connected to each other. The new protocol works by routing a Lightning network payment through an intermediate node. This intermediate node is always online and can securely forward a payment without needing that the payer and the payee maintain an active connection to the network. Sheinfeld said he would not describe the functionality as “offline Lightning payments” but as the “ability to pay someone and go offline right after you’ve sent the payment”—so the payee is offline during the payment. “It’s the difference between a phone call and text messaging,” he said. “One requires both parties to be online at the same time, the other doesn’t. Although it’s normally not an issue whether both nodes are online in a transaction, if payments can be sent across a protocol where at least the payee is offline, it could open up the door for a much-improved UX for payments made across Bitcoin’s layer-two scaling solution. || An Exponential Idea For Blockchain Exposure: Bitcoin has been in the spotlight for both positive and negative reasons this year, but even with increased chatter about the world's largest cryptocurrency, blockchain and related investments seem to be overlooked. What Happened As has been previously noted, there are several exchange traded funds on the market today dedicated to blockchain theme. Others offer ample though indirect blockchain exposure, a group that includes the iShares Exponential Technologies ETF (NASDAQ: XT ). The $2.53 billion XT, which is almost 5 years old and holds almost 200 stocks, tracks the Morningstar Exponential Technologies Index. “The Morningstar Exponential Technologies Index focuses on finding high-growth companies that are in the early stages of developing technologies that are expected to have a broad impact on society and transform how we live and work,” said Morningstar in a recent note . “The index, which comprises 200 stocks, differs from other tech-focused indexes in a few important ways. For one, the holdings are not limited to the tech sector. They can come from any sector, as long as they are poised to benefit from one or more of the exponential tech themes.” Why It's Important Blockchain is often viewed through the lens of technology and XT reflects that view with a 34.57% weight to that sector, but the fund also offer exposure to blockchain's other applications. The health care and communication services combine for about 41% of XT's roster. While XT is a versatile ETF, what may be keeping some investors at bay regarding blockchain ETFs is perception of an intimate link between blockchain and bitcoin's price action. “Even though blockchain and crypto are fundamentally distinct concepts that may ultimately have different endings, the blockchain hype cycle has very much tracked Bitcoin’s cycles,” according to a recent BlackRock podcast . What's Next Some investors may be burned out on hearing about bitcoin and its various fits and starts, but that could actual be a positive for long-term adoption and prove beneficial to ETFs, including XT. Story continues “In the last year and a half, this trough of disillusionment has set in. People have started to tire of the buzz and have started to question it,” according to BlackRock. “But as is typical in that classic Gartner hype cycle, the fundamentals – speed, privacy, security and scalability – are actually improving. That doesn’t mean we’re going to see widespread adoption, and a lot still needs to happen. But we’re certainly starting to see meaningful progress.” Related Links: A New Small-Cap ETF With A Buffer A Nifty Video Game ETF With Exciting Possibilities See more from Benzinga Another ETF Avenue For Video Game Access 3 ETFs For Tesla Earnings A New Way To Minimize Small-Cap Volatility © 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || An Exponential Idea For Blockchain Exposure: Bitcoin has been in the spotlight for both positive and negative reasons this year, but even with increased chatter about the world's largest cryptocurrency, blockchain and related investments seem to be overlooked.
What Happened
As has been previously noted, there areseveral exchange traded fundson the market today dedicated to blockchain theme. Others offer ample though indirect blockchain exposure, a group that includes theiShares Exponential Technologies ETF(NASDAQ:XT).
The $2.53 billion XT, which is almost 5 years old and holds almost 200 stocks, tracks the Morningstar Exponential Technologies Index.
“The Morningstar Exponential Technologies Index focuses on finding high-growth companies that are in the early stages of developing technologies that are expected to have a broad impact on society and transform how we live and work,” said Morningstarin a recent note. “The index, which comprises 200 stocks, differs from other tech-focused indexes in a few important ways. For one, the holdings are not limited to the tech sector. They can come from any sector, as long as they are poised to benefit from one or more of the exponential tech themes.”
Why It's Important
Blockchain is often viewed through the lens of technology and XT reflects that view with a 34.57% weight to that sector, but the fund also offer exposure to blockchain's other applications. The health care and communication services combine for about 41% of XT's roster.
While XT is a versatile ETF, what may be keeping some investors at bay regarding blockchain ETFs is perception of an intimate link between blockchain and bitcoin's price action.
“Even though blockchain and crypto are fundamentally distinct concepts that may ultimately have different endings, the blockchain hype cycle has very much tracked Bitcoin’s cycles,”according to a recent BlackRock podcast.
What's Next
Some investors may be burned out on hearing about bitcoin and its various fits and starts, but that could actual be a positive for long-term adoption and prove beneficial to ETFs, including XT.
“In the last year and a half, this trough of disillusionment has set in. People have started to tire of the buzz and have started to question it,” according to BlackRock. “But as is typical in that classic Gartner hype cycle, the fundamentals – speed, privacy, security and scalability – are actually improving. That doesn’t mean we’re going to see widespread adoption, and a lot still needs to happen. But we’re certainly starting to see meaningful progress.”
Related Links:
A New Small-Cap ETF With A Buffer
A Nifty Video Game ETF With Exciting Possibilities
See more from Benzinga
• Another ETF Avenue For Video Game Access
• 3 ETFs For Tesla Earnings
• A New Way To Minimize Small-Cap Volatility
© 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
[Social Media Buzz]
ちなみにいま、BTCだけもっててほかのオルトは持ってない。BTCと国内コア派は無関係だから。 || Now is the time to buy #gold and #bitcoin #btc. Government and Fed is diluting our money like crazy every day (think Zimbabwe/Venezuela) and our debt is un-recoverable as they are not even trying to pay it off. Dollar will be worthless soon, better have #gold and #bitcoin || RT technology: Bitcoin slumps to June lows before hearings on Facebook’s Libra https://t.co/WeUEddEKHn || Block Number: 600,732
Time: 10/23/2019, 4:56:45 PM UTC
Miner: P2Po...
|
7493.49, 8660.70, 9244.97, 9551.71, 9256.15, 9427.69, 9205.73, 9199.58, 9261.10, 9324.72
|
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 232.08, 234.93, 240.36, 239.02, 236.12, 229.78, 237.33, 243.86, 241.83, 240.30, 242.16, 241.11, 236.38, 236.93, 237.60, 236.15, 236.80, 233.13, 231.95, 234.02, 235.34, 240.35, 238.87, 240.95, 237.11, 237.12, 237.28, 237.41, 237.10, 233.35, 230.19, 222.93, 225.80, 225.87, 224.32, 224.95, 225.62, 222.88, 228.49, 229.05, 228.80, 229.71, 229.98, 232.40, 233.54, 236.82, 250.90, 249.28, 249.01, 244.61, 245.21, 243.94, 246.99, 244.30, 240.51, 242.80, 243.59, 250.99, 249.01, 257.06, 263.07, 258.62, 255.41, 256.34, 260.89, 271.91, 269.03, 266.21, 270.79, 269.23, 284.89, 293.11, 310.87, 292.05, 287.46, 285.83, 278.09, 279.47, 274.90, 273.61, 278.98, 275.83, 277.22, 276.05, 288.28, 288.70, 292.69, 293.62, 294.43, 289.59.
|
[Bitcoin Technical Analysis for 2015-07-29]
Volume: 24672600, RSI (14-day): 59.56, 50-day EMA: 268.72, 200-day EMA: 260.18
[Wider Market Context]
Gold Price: 1092.70, Gold RSI: 27.29
Oil Price: 48.79, Oil RSI: 32.66
[Recent News (last 7 days)]
Mike Tyson stepping into the bitcoin ring: Mike Tyson is getting into the bitcoin (:BTC=) market, apparently sponsoring an ATM that allows users to convert real-world cash into the digital currency. Tyson, who was the former heavyweight boxing champion of the world, tweeted on Saturday the link to a website advertising the "Mike Tyson Bitcoin ATM" coming in August of this year. Tyson tweet. The site boasts that "Mike Tyson's fastest knock out in the ring was 30 seconds. The Mike Tyson Bitcoin ATM can turn your cash into bitcoin in under 20 seconds." "I'm very proud to be a part of the Bitcoin revolution," Tyson said in a statement provided by his spokeswoman. "Digital currency is the future and the more I learn about it the more intrigued I become. Digital currency is going to level the playing ground for those that want alternatives for financial freedom." "No one knows better than I how uncertain the economy can be and at this juncture in my life it is imperative that I am proactive about my financial planning and for me it includes Bitcoin," he added. Still, tech news site SiliconAngle reported that Tyson himself may have been "suckered into a deal by a fast talker who has promised him millions if he gets involved and lends his name to the enterprise." It cited MikeTysonBitcoin.com's registration to a Peter Klamka, who is connected to Bitcoin Brands-a firm with a paltry $6,780 market cap according to Google Finance. Speaking to CNBC over the phone, Klamka disputed that account, saying that Bitcoin Brands has nothing to do with his Tyson venture, which operates under the moniker Bitcoin Direct LLC. This new firm (which Klamka says is a subsidiary of cattle company Conexus Cattle ( CNXS ) "for financing") seeks to create a whole suite of celebrity bitcoin-related products. He told CNBC that he came to the idea after previously working with celebrity credit cards tied to Kiss, Donald Trump and Hello Kitty. Read More Bitcoin's 'war' could threaten its survival The Tyson-branded bitcoin ATMs, which are slated to launch in two Las Vegas locations in about three weeks, will feature "Mike branding on the software" and will "hopefully have the ability to build a database of Mike's fans that are bitcoin users," Klamka said. The venture is a 50-50 split between Tyson and Bitcoin Direct, he added. More From CNBC Top News and Analysis Latest News Video Personal Finance View comments || Mike Tyson stepping into the bitcoin ring: Mike Tyson is getting into the bitcoin(:BTC=)market, apparently sponsoring an ATM that allows users to convert real-world cash into the digital currency.
Tyson, who was the former heavyweight boxing champion of the world, tweeted on Saturday the link toa websiteadvertising the "Mike Tyson Bitcoin ATM" coming in August of this year.
The site boasts that "Mike Tyson's fastest knock out in the ring was 30 seconds. The Mike Tyson Bitcoin ATM can turn your cash into bitcoin in under 20 seconds."
"I'm very proud to be a part of the Bitcoin revolution," Tyson said in a statement provided by his spokeswoman. "Digital currency is the future and the more I learn about it the more intrigued I become. Digital currency is going to level the playing ground for those that want alternatives for financial freedom."
"No one knows better than I how uncertain the economy can be and at this juncture in my life it is imperative that I am proactive about my financial planning and for me it includes Bitcoin," he added.
Still, tech news siteSiliconAngle reportedthat Tyson himself may have been "suckered into a deal by a fast talker who has promised him millions if he gets involved and lends his name to the enterprise." It cited MikeTysonBitcoin.com's registration to a Peter Klamka, who is connected to Bitcoin Brands-a firm with a paltry $6,780 market cap according to Google Finance.
Speaking to CNBC over the phone, Klamka disputed that account, saying that Bitcoin Brands has nothing to do with his Tyson venture, which operates under the moniker Bitcoin Direct LLC.
This new firm (which Klamka says is a subsidiary of cattle company Conexus Cattle(CNXS)"for financing") seeks to create a whole suite of celebrity bitcoin-related products. He told CNBC that he came to the idea after previously working with celebrity credit cards tied to Kiss, Donald Trump and Hello Kitty.
Read MoreBitcoin's 'war' could threaten its survival
The Tyson-branded bitcoin ATMs, which are slated to launch in two Las Vegas locations in about three weeks, will feature "Mike branding on the software" and will "hopefully have the ability to build a database of Mike's fans that are bitcoin users," Klamka said.
The venture is a 50-50 split between Tyson and Bitcoin Direct, he added.
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• Personal Finance || BTCS Completes Name Change and Launches New Website: ARLINGTON, VA--(Marketwired - Jul 28, 2015) - BTCS Inc. ( OTCQB : BTCS ) ("BTCS" or the "Company"), formerly known as Bitcoin Shop, Inc., a blockchain technology focused company which secures the blockchain through its transaction verification services business, recently filed to change its name. The name change should be reflected in the coming weeks once it is processed by FINRA. "While our Company was initially focused solely on the digital currency space, we have since evolved our operations to position ourselves to be a leader in the much larger blockchain technology arena," stated Charles Allen, Chief Executive Officer of BTCS. "This refined strategic focus represents an exciting market opportunity, and changing our name to reflect this broader focus was an important step in our evolution." As Jemima Kelly of Reuters recently reported, "The data that can be secured by the blockchain is not restricted to bitcoin transactions. Any two parties could use it to exchange other information, including stock deals, legal contracts and property records, within minutes and with no need for a third party to verify it. Backers say it could cut out the middleman and help fight corruption, as the process by which the data is secured makes it virtually impossible to tamper with." The Company also unveiled its new corporate website ( www.btcs.com ) on Tuesday. The new site includes additionalinformation about the importance of blockchain technology and its disruptive application across a diverse array of industries. About BTCS: The blockchain is a decentralized public ledger and has the ability to fundamentally impact, on a global basis, all industries that rely on or utilize record keeping and require trust. BTCS secures the blockchain through its rapidly growing transaction verification services business and plans to build a broader ecosystem to capitalize on opportunities in this fast growing industry. BTCS continues to evaluate and build additional blockchain technology consumer solutions. BTCS also actively partners and integrates with strategic digital currency and blockchain technology companies who provide products or services that are complementary to its business strategy. For more information visit: www.btcs.com Forward-Looking Statements: Certain statements in this press release, including those related to an anticipated merger, constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company's filings with the Securities and Exchange Commission, not limited to Risk Factors relating to its digital currency business contained therein. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law. || BTCS Completes Name Change and Launches New Website: ARLINGTON, VA--(Marketwired - Jul 28, 2015) - BTCS Inc. ( OTCQB : BTCS ) ("BTCS" or the "Company"), formerly known as Bitcoin Shop, Inc., a blockchain technology focused company which secures the blockchain through its transaction verification services business, recently filed to change its name. The name change should be reflected in the coming weeks once it is processed by FINRA. "While our Company was initially focused solely on the digital currency space, we have since evolved our operations to position ourselves to be a leader in the much larger blockchain technology arena," stated Charles Allen, Chief Executive Officer of BTCS. "This refined strategic focus represents an exciting market opportunity, and changing our name to reflect this broader focus was an important step in our evolution." As Jemima Kelly of Reuters recently reported, "The data that can be secured by the blockchain is not restricted to bitcoin transactions. Any two parties could use it to exchange other information, including stock deals, legal contracts and property records, within minutes and with no need for a third party to verify it. Backers say it could cut out the middleman and help fight corruption, as the process by which the data is secured makes it virtually impossible to tamper with." The Company also unveiled its new corporate website ( www.btcs.com ) on Tuesday. The new site includes additionalinformation about the importance of blockchain technology and its disruptive application across a diverse array of industries. About BTCS: The blockchain is a decentralized public ledger and has the ability to fundamentally impact, on a global basis, all industries that rely on or utilize record keeping and require trust. BTCS secures the blockchain through its rapidly growing transaction verification services business and plans to build a broader ecosystem to capitalize on opportunities in this fast growing industry. BTCS continues to evaluate and build additional blockchain technology consumer solutions. BTCS also actively partners and integrates with strategic digital currency and blockchain technology companies who provide products or services that are complementary to its business strategy. For more information visit: www.btcs.com Forward-Looking Statements: Certain statements in this press release, including those related to an anticipated merger, constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company's filings with the Securities and Exchange Commission, not limited to Risk Factors relating to its digital currency business contained therein. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law. || Bitcoin Focused HashingSpace Corporation Announces New Ticker Symbol "HSHS", Files 8-K, and Completes Reverse Merger: US based HashingSpace Corporation ( HSHS ) is pleased to announce it has completed a reverse merger, and a ticker change from the old ticker MLSOD to HSHS. HashingSpace provides a wide range of services to the Bitcoin and blockchain communities including hosted ASIC mining and Bitcoin ATM's WENATCHEE, WA / ACCESSWIRE / July 27, 2015 / HashingSpace Corporation ( HSHS ), a Bitcoin ASIC mining and hosting company, announced today that it has completed a reverse merger transaction with Milestone International Corporation. HashingSpace completed its 8-K filing with the United States Securities and Exchange Commission. HashingSpace will be traded on the OTC Markets with the symbol HSHS. The reverse merger was completed on July 10, 2015. HashingSpace Corporation merged with Milestone International Corporation as part of a reverse merger agreement for 120,000,000 shares of common stock, and 600,000 shares of Series A Preferred Stock. US based HashingSpace Corporation's new ticker symbol (HSHS) reflects the company's growth strategy and brings value to our shareholders. HashingSpace provides hosted Bitcoin ASIC mining, Bitcoin cloud mining solutions, and Bitcoin ATM's, among other essential services, to the Bitcoin ecosystem. "This transaction enables HashingSpace to fully capitalize on our fast growth as a Bitcoin and blockchain services and hosting operation. The merger we completed helps our company position itself as a leader in the Bitcoin/blockchain services revolution," shared Timothy Roberts, Chief Executive Officer of HashingSpace Corporation. "This is another major step in the implementation of our business plan to become a major provider of crypto currency and transactional verification mining solutions." "We are pleased to receive approval from FINRA on our name and ticker change. We believe this ticker symbol change will foster a stronger and more recognizable brand for the company. The new symbol more accurately reflects who we are as a company. These changes reflect our expectations for future growth of the company and our desire to provide our shareholders with maximum value. It also helps our investors to see our strategic focus and long-term goals to become an industry leader in the Bitcoin services industry. We will continue to offer new Bitcoin innovations as we further build our brand and robust suite of services." Story continues All company information, including stock trading, filings, and market data related to the company, will be reported under the new ticker symbol, HSHS. HashingSpace Corporation's business will provide a wide range of services to include: - HASHHOSTING: Servers fully managed and specifically set-up for ASIC MINING - CLOUDHASH: Cloud mining servers that can be rented with full hashing power - HASHMINING: Our own Mining Farm - HASHATM: Owner and operator of Bitcoin ATM machines - HASHWALLET: Bitcoin consumer wallet for bitcoin banking and transactions - HASHPOOL: Public Stratum and P2Pool (Web/IOS/Droid) - HASHTICKER: Free Ticker for tracking Bitcoin Value (Screen Saver/Web/IOS/Droid) - HASHVAR: A wholesaler of Bitcoin servers and Bitcoin ATM machines About HashingSpace Corporation HashingSpace Corporation is a Bitcoin ASIC mining company, hosting provider, and service provider of blockchain transactional services. HashingSpace's high density datacenters are designed to meet the demanding power and cooling needs of client hosted Bitcoin mining gear with unparalleled pricing, cooling and green energy. The Corporation is continuing to expand its datacenters to satisfy the shortage of low cost hosting facilities catering to the Bitcoin and blockchain mining and transactional verification services industry specifically. HashingSpace Corporation manages HashWallet, a Bitcoin wallet; HashPool, a Bitcoin mining pool; and HashATM, the owner and operator of Bitcoin ATM machines. The company is a wholesaler of Bitcoin mining servers and Bitcoin ATM machines. Bitcoin businesses interested in reselling HashingSpace products and services are invited to reach out to HashingSpace Corporation for more information. HashingSpace Corporation is headquartered in Wenatchee, Washington. For more information, visit www.hashingspace.com . Any unreleased services or features referenced in this or other press releases or public statements may not be currently available and may not be delivered on time or at all. Customers who purchase HashingSpace services should make their purchase decisions based upon features currently available. For more information please visit http://www.hashingspace.com or call 1-855-HASHING (427-4464). Safe Harbor Statement This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based on the current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the Company's current plans and expectations, as well as future results of operations and financial condition. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. For more information please visit: http://www.hashingspace.com/ Company Contact: HashingSpace Corporation 5042 Wilshire Blvd. #26900 Los Angeles, CA, 90036 855 HASHING (427-4464) Investor Relations: Email: ir@hashingspace.com SOURCE: HashingSpace Corporation || Bitcoin Focused HashingSpace Corporation Announces New Ticker Symbol "HSHS", Files 8-K, and Completes Reverse Merger: US based HashingSpace Corporation (HSHS) is pleased to announce it has completed a reverse merger, and a ticker change from the old ticker MLSOD to HSHS. HashingSpace provides a wide range of services to the Bitcoin and blockchain communities including hosted ASIC mining and Bitcoin ATM's
WENATCHEE, WA / ACCESSWIRE / July 27, 2015 /HashingSpace Corporation (HSHS), a Bitcoin ASIC mining and hosting company, announced today that it has completed a reverse merger transaction with Milestone International Corporation. HashingSpace completed its 8-K filing with the United States Securities and Exchange Commission. HashingSpace will be traded on the OTC Markets with the symbol HSHS. The reverse merger was completed on July 10, 2015.
HashingSpace Corporation merged with Milestone International Corporation as part of a reverse merger agreement for 120,000,000 shares of common stock, and 600,000 shares of Series A Preferred Stock.
US based HashingSpace Corporation's new ticker symbol (HSHS) reflects the company's growth strategy and brings value to our shareholders. HashingSpace provides hosted Bitcoin ASIC mining, Bitcoin cloud mining solutions, and Bitcoin ATM's, among other essential services, to the Bitcoin ecosystem.
"This transaction enables HashingSpace to fully capitalize on our fast growth as a Bitcoin and blockchain services and hosting operation. The merger we completed helps our company position itself as a leader in the Bitcoin/blockchain services revolution," shared Timothy Roberts, Chief Executive Officer of HashingSpace Corporation. "This is another major step in the implementation of our business plan to become a major provider of crypto currency and transactional verification mining solutions."
"We are pleased to receive approval from FINRA on our name and ticker change. We believe this ticker symbol change will foster a stronger and more recognizable brand for the company. The new symbol more accurately reflects who we are as a company. These changes reflect our expectations for future growth of the company and our desire to provide our shareholders with maximum value. It also helps our investors to see our strategic focus and long-term goals to become an industry leader in the Bitcoin services industry. We will continue to offer new Bitcoin innovations as we further build our brand and robust suite of services."
All company information, including stock trading, filings, and market data related to the company, will be reported under the new ticker symbol, HSHS.
HashingSpace Corporation's business will provide a wide range of services to include:
- HASHHOSTING:Servers fully managed and specifically set-up for ASIC MINING- CLOUDHASH:Cloud mining servers that can be rented with full hashing power- HASHMINING:Our own Mining Farm- HASHATM:Owner and operator of Bitcoin ATM machines- HASHWALLET:Bitcoin consumer wallet for bitcoin banking and transactions- HASHPOOL:Public Stratum and P2Pool (Web/IOS/Droid)- HASHTICKER:Free Ticker for tracking Bitcoin Value (Screen Saver/Web/IOS/Droid)- HASHVAR:A wholesaler of Bitcoin servers and Bitcoin ATM machines
About HashingSpace Corporation
HashingSpace Corporation is a Bitcoin ASIC mining company, hosting provider, and service provider of blockchain transactional services. HashingSpace's high density datacenters are designed to meet the demanding power and cooling needs of client hosted Bitcoin mining gear with unparalleled pricing, cooling and green energy. The Corporation is continuing to expand its datacenters to satisfy the shortage of low cost hosting facilities catering to the Bitcoin and blockchain mining and transactional verification services industry specifically.
HashingSpace Corporation manages HashWallet, a Bitcoin wallet; HashPool, a Bitcoin mining pool; and HashATM, the owner and operator of Bitcoin ATM machines. The company is a wholesaler of Bitcoin mining servers and Bitcoin ATM machines. Bitcoin businesses interested in reselling HashingSpace products and services are invited to reach out to HashingSpace Corporation for more information.
HashingSpace Corporation is headquartered in Wenatchee, Washington. For more information, visitwww.hashingspace.com.
Any unreleased services or features referenced in this or other press releases or public statements may not be currently available and may not be delivered on time or at all. Customers who purchase HashingSpace services should make their purchase decisions based upon features currently available. For more information please visithttp://www.hashingspace.comor call 1-855-HASHING (427-4464).
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based on the current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the Company's current plans and expectations, as well as future results of operations and financial condition. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
For more information please visit:http://www.hashingspace.com/
Company Contact:
HashingSpace Corporation5042 Wilshire Blvd. #26900Los Angeles, CA, 90036855 – HASHING (427-4464)
Investor Relations:
Email:ir@hashingspace.com
SOURCE:HashingSpace Corporation || Bitcoin Focused HashingSpace Corporation Announces New Ticker Symbol "HSHS", Files 8-K, and Completes Reverse Merger: US based HashingSpace Corporation (HSHS) is pleased to announce it has completed a reverse merger, and a ticker change from the old ticker MLSOD to HSHS. HashingSpace provides a wide range of services to the Bitcoin and blockchain communities including hosted ASIC mining and Bitcoin ATM's
WENATCHEE, WA / ACCESSWIRE / July 27, 2015 /HashingSpace Corporation (HSHS), a Bitcoin ASIC mining and hosting company, announced today that it has completed a reverse merger transaction with Milestone International Corporation. HashingSpace completed its 8-K filing with the United States Securities and Exchange Commission. HashingSpace will be traded on the OTC Markets with the symbol HSHS. The reverse merger was completed on July 10, 2015.
HashingSpace Corporation merged with Milestone International Corporation as part of a reverse merger agreement for 120,000,000 shares of common stock, and 600,000 shares of Series A Preferred Stock.
US based HashingSpace Corporation's new ticker symbol (HSHS) reflects the company's growth strategy and brings value to our shareholders. HashingSpace provides hosted Bitcoin ASIC mining, Bitcoin cloud mining solutions, and Bitcoin ATM's, among other essential services, to the Bitcoin ecosystem.
"This transaction enables HashingSpace to fully capitalize on our fast growth as a Bitcoin and blockchain services and hosting operation. The merger we completed helps our company position itself as a leader in the Bitcoin/blockchain services revolution," shared Timothy Roberts, Chief Executive Officer of HashingSpace Corporation. "This is another major step in the implementation of our business plan to become a major provider of crypto currency and transactional verification mining solutions."
"We are pleased to receive approval from FINRA on our name and ticker change. We believe this ticker symbol change will foster a stronger and more recognizable brand for the company. The new symbol more accurately reflects who we are as a company. These changes reflect our expectations for future growth of the company and our desire to provide our shareholders with maximum value. It also helps our investors to see our strategic focus and long-term goals to become an industry leader in the Bitcoin services industry. We will continue to offer new Bitcoin innovations as we further build our brand and robust suite of services."
All company information, including stock trading, filings, and market data related to the company, will be reported under the new ticker symbol, HSHS.
HashingSpace Corporation's business will provide a wide range of services to include:
- HASHHOSTING:Servers fully managed and specifically set-up for ASIC MINING- CLOUDHASH:Cloud mining servers that can be rented with full hashing power- HASHMINING:Our own Mining Farm- HASHATM:Owner and operator of Bitcoin ATM machines- HASHWALLET:Bitcoin consumer wallet for bitcoin banking and transactions- HASHPOOL:Public Stratum and P2Pool (Web/IOS/Droid)- HASHTICKER:Free Ticker for tracking Bitcoin Value (Screen Saver/Web/IOS/Droid)- HASHVAR:A wholesaler of Bitcoin servers and Bitcoin ATM machines
About HashingSpace Corporation
HashingSpace Corporation is a Bitcoin ASIC mining company, hosting provider, and service provider of blockchain transactional services. HashingSpace's high density datacenters are designed to meet the demanding power and cooling needs of client hosted Bitcoin mining gear with unparalleled pricing, cooling and green energy. The Corporation is continuing to expand its datacenters to satisfy the shortage of low cost hosting facilities catering to the Bitcoin and blockchain mining and transactional verification services industry specifically.
HashingSpace Corporation manages HashWallet, a Bitcoin wallet; HashPool, a Bitcoin mining pool; and HashATM, the owner and operator of Bitcoin ATM machines. The company is a wholesaler of Bitcoin mining servers and Bitcoin ATM machines. Bitcoin businesses interested in reselling HashingSpace products and services are invited to reach out to HashingSpace Corporation for more information.
HashingSpace Corporation is headquartered in Wenatchee, Washington. For more information, visitwww.hashingspace.com.
Any unreleased services or features referenced in this or other press releases or public statements may not be currently available and may not be delivered on time or at all. Customers who purchase HashingSpace services should make their purchase decisions based upon features currently available. For more information please visithttp://www.hashingspace.comor call 1-855-HASHING (427-4464).
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based on the current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the Company's current plans and expectations, as well as future results of operations and financial condition. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
For more information please visit:http://www.hashingspace.com/
Company Contact:
HashingSpace Corporation5042 Wilshire Blvd. #26900Los Angeles, CA, 90036855 – HASHING (427-4464)
Investor Relations:
Email:ir@hashingspace.com
SOURCE:HashingSpace Corporation || Your first trade for Monday: The "Fast Money" traders delivered final trades that were out of this world after NASA astronaut Scott Kelly asked for a stock tip from aboard the International Space Station.
Tim Seymour recommended playing the frontier markets by buying the iShares MSCI Frontier 100 ETF(NYSE Arca: FM).
David Seaburg's play was Starbucks(SBUX), alluding to the strength of brand loyalty and new products.
Brian Kelly suggested shorting the Market Vectors Russia ETF(NYSE Arca: RSX)as a heavenly oil play.
Guy Adami went intergalactic as a buyer of Constellation Brands(STZ).
Trader disclosure: On July 24, 2015 the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders:Tim Seymour is long AAPL, T, BAC, DIS, F, GE, GM, GOOGL, INTC, JPM, SUNE, Tim's firm is long BABA, BIDU, MCD, NKE, NOK, SBUX, YHOO. Today he sold C. Brian Kelly is long BBRY, BTC=; ITB, TAN, TLT, TSL, US dollar; he is short Oil, Ruble, Yuan and Yen. Today he shorted the Ruble. Guy Adami is long CELG, EXAS, INTC, Guy Adami's wife, Linda Snow, works at Merck. David Seaburg: No disclosures.
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• Personal Finance || Your first trade for Monday: The " Fast Money " traders delivered final trades that were out of this world after NASA astronaut Scott Kelly asked for a stock tip from aboard the International Space Station. Tim Seymour recommended playing the frontier markets by buying the iShares MSCI Frontier 100 ETF (NYSE Arca: FM) . David Seaburg's play was Starbucks ( SBUX ) , alluding to the strength of brand loyalty and new products. Brian Kelly suggested shorting the Market Vectors Russia ETF (NYSE Arca: RSX) as a heavenly oil play. Guy Adami went intergalactic as a buyer of Constellation Brands ( STZ ) . Trader disclosure: On July 24, 2015 the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Tim Seymour is long AAPL, T, BAC, DIS, F, GE, GM, GOOGL, INTC, JPM, SUNE, Tim's firm is long BABA, BIDU, MCD, NKE, NOK, SBUX, YHOO. Today he sold C. Brian Kelly is long BBRY, BTC=; ITB, TAN, TLT, TSL, US dollar; he is short Oil, Ruble, Yuan and Yen. Today he shorted the Ruble. Guy Adami is long CELG, EXAS, INTC, Guy Adami's wife, Linda Snow, works at Merck. David Seaburg: No disclosures. More From CNBC Top News and Analysis Latest News Video Personal Finance || Winklevoss twins file paperwork to operate Gemini bitcoin exchange: By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - Investors Tyler and Cameron Winklevoss earlier this week filed paperwork to operate a bitcoin exchange called Gemini for both individual and institutional investors in New York state, a spokeswoman said on Friday. The twins, best known for accusing Facebook Inc founder Mark Zuckerberg of stealing their idea, want to make the digital currency mainstream in the United States. Unlike conventional money, bitcoin is bought and sold on a peer-to-peer network independent of central control. Bitcoin is not backed by a government or central bank and its value fluctuates according to demand by users. The Winklevoss brothers filed an application on July 21 with the New York State Department of Financial Services to operate as a trust company. ItBit also filed a trust application in New York in February. In May, it became the first virtual currency company to receive a charter in the state. A trust company is a type of financial institution technically different from a bank, according to a blog by Houman Shadab, an expert on bitcoin regulations and a professor at the New York Law School. Under New York state's banking law, a trust company has all the powers of a bank to take deposits and make loans, alongside certain fiduciary powers such as acting as an agent for governmental bodies, he wrote. Examples of trust companies in New York include securities custodian the Depository Trust Company, the wealth and asset manager Northern Trust, and the Bank of New York Mellon. Last year Mt. Gox, a Tokyo-based bitcoin exchange, was forced to file for bankruptcy after hackers stole an estimated $650 million worth of customer bitcoins. Bitcoin's value has been highly volatile, having peaked at over $1,200 in late 2013 before crashing after the Mt. Gox attack. One bitcoin is currently worth around $289 on the BitStamp platform. (Reporting by Gertrude Chavez-Dreyfuss; Editing by Lisa Shumaker) || Winklevoss twins file paperwork to operate Gemini bitcoin exchange: By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - Investors Tyler and Cameron Winklevoss earlier this week filed paperwork to operate a bitcoin exchange called Gemini for both individual and institutional investors in New York state, a spokeswoman said on Friday. The twins, best known for accusing Facebook Inc founder Mark Zuckerberg of stealing their idea, want to make the digital currency mainstream in the United States. Unlike conventional money, bitcoin is bought and sold on a peer-to-peer network independent of central control. Bitcoin is not backed by a government or central bank and its value fluctuates according to demand by users. The Winklevoss brothers filed an application on July 21 with the New York State Department of Financial Services to operate as a trust company. ItBit also filed a trust application in New York in February. In May, it became the first virtual currency company to receive a charter in the state. A trust company is a type of financial institution technically different from a bank, according to a blog by Houman Shadab, an expert on bitcoin regulations and a professor at the New York Law School. Under New York state's banking law, a trust company has all the powers of a bank to take deposits and make loans, alongside certain fiduciary powers such as acting as an agent for governmental bodies, he wrote. Examples of trust companies in New York include securities custodian the Depository Trust Company, the wealth and asset manager Northern Trust, and the Bank of New York Mellon. Last year Mt. Gox, a Tokyo-based bitcoin exchange, was forced to file for bankruptcy after hackers stole an estimated $650 million worth of customer bitcoins. Bitcoin's value has been highly volatile, having peaked at over $1,200 in late 2013 before crashing after the Mt. Gox attack. One bitcoin is currently worth around $289 on the BitStamp platform. (Reporting by Gertrude Chavez-Dreyfuss; Editing by Lisa Shumaker) || MarilynJean Media Interactive (MJMI.QB) Announces Plans to Enter Multi-Billion Dollar Remittance Market Using Bitcoin to Effect Transfers: HENDERSON, NV / ACCESSWIRE / July 24, 2015 / MarilynJean Media Interactive ( MJMI ) announced today its plans to enter the multi-billion dollar remittance market using Bitcoin to effect transfers. According to the World Bank, sending money internationally, or remittance transactions, were valued at over $580 Billion in 2014 and are expected to exceed $608 Billion in 2015. The World Bank estimates transaction fees to average 7.99% of money sent, making for a staggering $50 Billion in potential fees for participants in this year's remittance business. Most remittance transfers are from developed countries to developing ones, sent primarily by migrant workers. Currently, most transactions are done through brick and mortar institutions like Western Union (NYSE:WU) and Moneygram (NASDAQ:MGI). These type of companies make money by charging an often invisible fee on the currency exchange portion of the transaction and high transfer fees to send and receive the money. Within the existing financial system, Bitcoin's most disrupting feature is its decentralized architecture. A vaster international network of P2P computers provides multiple layers of verification for each transaction using cryptography. All transactions are registered in the publicly viewable blockchain so that users can’t transact with bitcoins they don’t own. This final level of security previously required a third party, typically a bank. In a Bitcoin remittance transaction, a user would purchase Bitcoins via a Bitcoin exchange then send the Bitcoins to a Bitcoin remittance company who would then send the money to the receiver. Each step would be completed electronically within minutes. The bitcoin network has the potential to effectively replace financial institutions and banks in the remittance market. Transfers are virtually in real time, often completing in less than 10 minutes, with ultra-low costs, typically limited to the fee for using a Bitcoin exchange, which averages 2%. In addition, Bitcoin remittance transactions can be easily completed using mobile devices which are now widely available in developing countries. Story continues Challenges for Bitcoin and other crypto-currencies in the remittance market include the differing ways such currencies are regulated internationally and the costs associated with compliance in multiple jurisdictions. As a fully reporting, publicly traded company, management believes both regulators and users will be comparatively more confident with MJMI's participation in any regulated markets. MJMI is currently exploring partnering with several existing Bitcoin exchanges as well as manufacturers and operators of Bitcoin ATMs. Such a combination would place the company in an exciting position to offer an end to end solution and potentially capture a share of this lucrative market just as it is poised to undergo a massive shift into the digital realm. Peter Janosi, MJMI's president said: "With legacy remittance companies and traditional banks continuing to charge high fees while hiding other fees via poor exchange rates, it's hard to see a future where they will continue to be relevant." About Bitcoin and Crypto-Currencies Bitcoin and other crypto-currencies are a medium of exchange using cryptography to secure transactions and control the creation of new units. Bitcoin became the first decentralized crypto-currency in 2009. Crypto-currency is produced at a rate which is defined when the system is created and publicly known. By contrast, in centralized banking and economic systems, such as the Federal Reserve System, corporate boards or governments control the supply of currency by printing units or demanding additions to digital banking ledgers. However, neither companies nor governments can produce units of crypto-currency and as such the value of crypto-currencies are completely based on supply and demand, free from any governmental control. Many people believe crypto-currencies, and in particular bitcoin, hold the promise of being the most significant advancement in global finance in modern history. The advent of bitcoin creates a secure, easily accessible and transferable transnational currency that is completely liberated from political influence. Richard Branson, head of the Virgin Group, is quoted on his company's website as saying: "I have invested in Bitcoin because I believe in its potential, the capacity it has to transform global payments is very exciting." Heavyweight investment bank Goldman Sachs (NYSE:GS), announced on April 30th 2015 that it had partnered with Chinese investment firm IDG Capital partners to invest $50 million in a Bitcoin start-up. Numerous high-profile firms have begun accepting Bitcoin as a payment method including: Dell Inc. (NASDAQ:DELL), Dish Network Corp. (NASDAQ:DISH), Expedia Inc. (NASDAQ:EXPE), and Overstock.com (NASDAQ:OSTK). MarilynJean Media Interactive is among the first publicly traded companies focussed on bitcoin and the crypto-currency space. The company's trading symbol is MJMI.QB. Website: www.marilynjeancom Press Contact: bonnie@marilynjean.com SOURCE : MarilynJean Media Interactive || MarilynJean Media Interactive (MJMI.QB) Announces Plans to Enter Multi-Billion Dollar Remittance Market Using Bitcoin to Effect Transfers: HENDERSON, NV / ACCESSWIRE / July 24, 2015 /MarilynJean Media Interactive (MJMI) announced today its plans to enter the multi-billion dollar remittance market using Bitcoin to effect transfers.
According to the World Bank, sending money internationally, or remittance transactions, were valued at over $580 Billion in 2014 and are expected to exceed $608 Billion in 2015. The World Bank estimates transaction fees to average 7.99% of money sent, making for a staggering $50 Billion in potential fees for participants in this year's remittance business.
Most remittance transfers are from developed countries to developing ones, sent primarily by migrant workers. Currently, most transactions are done through brick and mortar institutions like Western Union (NYSE:WU) and Moneygram (NASDAQ:MGI). These type of companies make money by charging an often invisible fee on the currency exchange portion of the transaction and high transfer fees to send and receive the money.
Within the existing financial system, Bitcoin's most disrupting feature is its decentralized architecture. A vaster international network of P2P computers provides multiple layers of verification for each transaction using cryptography. All transactions are registered in the publicly viewable blockchain so that users can’t transact with bitcoins they don’t own. This final level of security previously required a third party, typically a bank.
In a Bitcoin remittance transaction, a user would purchase Bitcoins via a Bitcoin exchange then send the Bitcoins to a Bitcoin remittance company who would then send the money to the receiver. Each step would be completed electronically within minutes.
The bitcoin network has the potential to effectively replace financial institutions and banks in the remittance market. Transfers are virtually in real time, often completing in less than 10 minutes, with ultra-low costs, typically limited to the fee for using a Bitcoin exchange, which averages 2%. In addition, Bitcoin remittance transactions can be easily completed using mobile devices which are now widely available in developing countries.
Challenges for Bitcoin and other crypto-currencies in the remittance market include the differing ways such currencies are regulated internationally and the costs associated with compliance in multiple jurisdictions. As a fully reporting, publicly traded company, management believes both regulators and users will be comparatively more confident with MJMI's participation in any regulated markets.
MJMI is currently exploring partnering with several existing Bitcoin exchanges as well as manufacturers and operators of Bitcoin ATMs. Such a combination would place the company in an exciting position to offer an end to end solution and potentially capture a share of this lucrative market just as it is poised to undergo a massive shift into the digital realm.
Peter Janosi, MJMI's president said: "With legacy remittance companies and traditional banks continuing to charge high fees while hiding other fees via poor exchange rates, it's hard to see a future where they will continue to be relevant."
About Bitcoin and Crypto-Currencies
Bitcoin and other crypto-currencies are a medium of exchange using cryptography to secure transactions and control the creation of new units. Bitcoin became the first decentralized crypto-currency in 2009. Crypto-currency is produced at a rate which is defined when the system is created and publicly known. By contrast, in centralized banking and economic systems, such as the Federal Reserve System, corporate boards or governments control the supply of currency by printing units or demanding additions to digital banking ledgers. However, neither companies nor governments can produce units of crypto-currency and as such the value of crypto-currencies are completely based on supply and demand, free from any governmental control. Many people believe crypto-currencies, and in particular bitcoin, hold the promise of being the most significant advancement in global finance in modern history. The advent of bitcoin creates a secure, easily accessible and transferable transnational currency that is completely liberated from political influence.
Richard Branson, head of the Virgin Group, is quoted on his company's website as saying: "I have invested in Bitcoin because I believe in its potential, the capacity it has to transform global payments is very exciting."
Heavyweight investment bank Goldman Sachs (NYSE:GS), announced on April 30th 2015 that it had partnered with Chinese investment firm IDG Capital partners to invest $50 million in a Bitcoin start-up. Numerous high-profile firms have begun accepting Bitcoin as a payment method including: Dell Inc. (NASDAQ:DELL), Dish Network Corp. (NASDAQ:DISH), Expedia Inc. (NASDAQ:EXPE), and Overstock.com (NASDAQ:OSTK).
MarilynJean Media Interactive is among the first publicly traded companies focussed on bitcoin and the crypto-currency space. The company's trading symbol is MJMI.QB.
Website:www.marilynjeancom
Press Contact:bonnie@marilynjean.com
SOURCE: MarilynJean Media Interactive || MarilynJean Media Interactive (MJMI.QB) Announces Plans to Enter Multi-Billion Dollar Remittance Market Using Bitcoin to Effect Transfers: HENDERSON, NV / ACCESSWIRE / July 24, 2015 /MarilynJean Media Interactive (MJMI) announced today its plans to enter the multi-billion dollar remittance market using Bitcoin to effect transfers.
According to the World Bank, sending money internationally, or remittance transactions, were valued at over $580 Billion in 2014 and are expected to exceed $608 Billion in 2015. The World Bank estimates transaction fees to average 7.99% of money sent, making for a staggering $50 Billion in potential fees for participants in this year's remittance business.
Most remittance transfers are from developed countries to developing ones, sent primarily by migrant workers. Currently, most transactions are done through brick and mortar institutions like Western Union (NYSE:WU) and Moneygram (NASDAQ:MGI). These type of companies make money by charging an often invisible fee on the currency exchange portion of the transaction and high transfer fees to send and receive the money.
Within the existing financial system, Bitcoin's most disrupting feature is its decentralized architecture. A vaster international network of P2P computers provides multiple layers of verification for each transaction using cryptography. All transactions are registered in the publicly viewable blockchain so that users can’t transact with bitcoins they don’t own. This final level of security previously required a third party, typically a bank.
In a Bitcoin remittance transaction, a user would purchase Bitcoins via a Bitcoin exchange then send the Bitcoins to a Bitcoin remittance company who would then send the money to the receiver. Each step would be completed electronically within minutes.
The bitcoin network has the potential to effectively replace financial institutions and banks in the remittance market. Transfers are virtually in real time, often completing in less than 10 minutes, with ultra-low costs, typically limited to the fee for using a Bitcoin exchange, which averages 2%. In addition, Bitcoin remittance transactions can be easily completed using mobile devices which are now widely available in developing countries.
Challenges for Bitcoin and other crypto-currencies in the remittance market include the differing ways such currencies are regulated internationally and the costs associated with compliance in multiple jurisdictions. As a fully reporting, publicly traded company, management believes both regulators and users will be comparatively more confident with MJMI's participation in any regulated markets.
MJMI is currently exploring partnering with several existing Bitcoin exchanges as well as manufacturers and operators of Bitcoin ATMs. Such a combination would place the company in an exciting position to offer an end to end solution and potentially capture a share of this lucrative market just as it is poised to undergo a massive shift into the digital realm.
Peter Janosi, MJMI's president said: "With legacy remittance companies and traditional banks continuing to charge high fees while hiding other fees via poor exchange rates, it's hard to see a future where they will continue to be relevant."
About Bitcoin and Crypto-Currencies
Bitcoin and other crypto-currencies are a medium of exchange using cryptography to secure transactions and control the creation of new units. Bitcoin became the first decentralized crypto-currency in 2009. Crypto-currency is produced at a rate which is defined when the system is created and publicly known. By contrast, in centralized banking and economic systems, such as the Federal Reserve System, corporate boards or governments control the supply of currency by printing units or demanding additions to digital banking ledgers. However, neither companies nor governments can produce units of crypto-currency and as such the value of crypto-currencies are completely based on supply and demand, free from any governmental control. Many people believe crypto-currencies, and in particular bitcoin, hold the promise of being the most significant advancement in global finance in modern history. The advent of bitcoin creates a secure, easily accessible and transferable transnational currency that is completely liberated from political influence.
Richard Branson, head of the Virgin Group, is quoted on his company's website as saying: "I have invested in Bitcoin because I believe in its potential, the capacity it has to transform global payments is very exciting."
Heavyweight investment bank Goldman Sachs (NYSE:GS), announced on April 30th 2015 that it had partnered with Chinese investment firm IDG Capital partners to invest $50 million in a Bitcoin start-up. Numerous high-profile firms have begun accepting Bitcoin as a payment method including: Dell Inc. (NASDAQ:DELL), Dish Network Corp. (NASDAQ:DISH), Expedia Inc. (NASDAQ:EXPE), and Overstock.com (NASDAQ:OSTK).
MarilynJean Media Interactive is among the first publicly traded companies focussed on bitcoin and the crypto-currency space. The company's trading symbol is MJMI.QB.
Website:www.marilynjeancom
Press Contact:bonnie@marilynjean.com
SOURCE: MarilynJean Media Interactive || Bitcoin's 'war' could threaten its survival: Bitcoin , the digital currency technology with an ecosystem attracting hundreds of millions of dollars in investment, is struggling through an existential crisis. And what may to outsiders seem like petty squabbling about a single number actually has major financial implications and could even threaten the very survival of the cryptocurrency. The argument-which is pitting Chinese constituencies against largely Western developers, the business community against the often ideological early adopters, and programmer against programmer-centers on a simple number in the global bitcoin system. But if the various parties can't come to an agreement, the whole network could splinter, wrecking its major selling points of security and decentralization. "There is literally a war going on right now in the bitcoin world," Marco Streng, CEO of Genesis Mining, told CNBC last month. There are two major questions facing the technology: Who is bitcoin for? And who gets to decide? Most of the early adopters saw appeal in bitcoin as a decentralized digital currency (: BTC=) -(to over-simplify the promise) a sort of virtual gold that could not be touched by governments, banks or corporations. But in seeking to create the perfect system for such a currency, bitcoin's early creators also created a technology that has wide-ranging applications. That technology is called the "blockchain" (CNBC has gone in depth into how it works) , and this is basically what it does: It can record any information in a secure way, and make that information both public and unchangeable-doing this without relying on any central authority. Banks, stock exchanges, payment companies and others have already begun exploring how this can be used in their own businesses. The issue at hand is about the structure of bitcoin's blockchain (which is composed of "blocks" of data with each block referring back to the preceding chunk of information-thereby creating a chain). The community is arguing about how big the maximum block size should be: The current max is one megabyte, which only allows for about seven transactions per second-far too few for most businesses currently investing in the technology. Story continues This speed is a "roadblock to bitcoin growth," Jeff Garzik, one of five bitcoin core developers who have taken over maintenance of the technology, wrote in a recent paper . (Visa, for comparison, says its network can handle more than 24,000 transactions per second.) Read More Why is it called the 'blockchain?' "Any responsible business projecting capacity usage into the future sees the system reaching an absolute maximum capacity, with this speed limit in place," he wrote. "Increasing or removing this limit will encourage businesses to view bitcoin as scalable and capable of supporting millions of new users." The block size limit may also negatively impact bitcoin's original currency use-case: As the number of transaction requests exceed the limit, the user experience degrades: The pools of "miners" who help inscribe data onto the global network will begin charging ever-higher fees for processing, eliminating some of the appeal over other payment methods. But there are reasons for limiting the size of a block. For one, it provides security for the system by constraining available space, and therefore making it costly to maliciously flood the network with spam. Miners are generally against increasing the size too much: They would have to do more work on each block, but they'd still reap the same benefit per block (while transaction fees remain negligibly low), said Pete Rizzo, the U.S. editor for cryptocurrency site CoinDesk. Also, some early adopters who plan to hold bitcoin for extended periods of time as an investment may prefer to keep the block size limit low-unbothered by transaction fees or business prospects, Garzik explained to CNBC. But even if more interests seem to point to increasing the block size, there's no agreement what size is ideal-balancing present-day security and future promise-or how a change should be made. Gavin Andresen, one of the most important developers of the technology, proposed increasing the max size to 20 megabytes. (He did not respond to request for comment.) A powerful constituency of Chinese miners-who also object to increasing the size of the block, saying their nation's Internet connection to the rest of the world would not allow it-made a counter proposal suggesting an eight-megabyte maximum. Andresen has since backed a version of this plan. Read More Why financial firms are investigating bitcoin tech For his part, Garzik proposed a sliding cap with a change to the bitcoin code allowing for periodic block increases (or even decreases) based on global miners' votes. Different sources told CNBC that the most important parts of the community were variously leaning toward Garzik's proposal, an 8-megabyte increase, or just a small "can-kicking" measure to wait for technologies that might allow them to bypass the question. But as a totally decentralized system, bitcoin has no clear way to weigh these disparate opinions and interests-in other words, no way to make a definitive decision. Garzik called the block size debate the first major alteration to bitcoin policy since it began in January 2009. When other changes have been made, the core software has been changed, and the players on the network have quickly updated (anyone who doesn't follow the current protocol gets booted from the network until they comply). But with a contentious issue like this, the developers risk splitting the network into those who want to follow one set of rules, and those who want another. If someone were to push out a global update without ensuring near-total consensus, a split could occur. Read More Bitcoin firm raises $116M, including Qualcomm investment "That would be the worst of all possible options," Garzik said. Bitcoin runs on a blockchain that is more secure and decentralized than any of its competitors because of its large user base and its comparatively lengthy history. If those users were to splinter, then the entire enterprise could be compromised. So what's at stake? Hundreds of millions of dollars have been invested in bitcoin and blockchain-related companies, and the current value of all the bitcoin in existence is currently about $4 billion . The risks of a network split are low but not negligible, experts told CNBC. "You're dealing with consensus among a community of people who aren't communicating very well-and haven't for some time," Rizzo said, explaining that making any change to the code risks breaking a technology that already works pretty well. "At what point does that risk become untenable? At this point it's still within the realm of 'danger Will Robinson'-level risk," he added. More From CNBC Top News and Analysis Latest News Video Personal Finance || Bitcoin's 'war' could threaten its survival: Bitcoin, the digital currency technology with an ecosystem attracting hundreds of millions of dollars in investment, is struggling through an existential crisis.
And what may to outsiders seem like petty squabbling about a single number actually has major financial implications and could even threaten the very survival of the cryptocurrency.
The argument-which is pitting Chinese constituencies against largely Western developers, the business community against the often ideological early adopters, and programmer against programmer-centers on a simple number in the global bitcoin system. But if the various parties can't come to an agreement, the whole network could splinter, wrecking its major selling points of security and decentralization.
"There is literally a war going on right now in the bitcoin world," Marco Streng, CEO of Genesis Mining, told CNBC last month.
There are two major questions facing the technology: Who is bitcoin for? And who gets to decide?
Most of the early adopters saw appeal in bitcoin as a decentralized digital currency(: BTC=)-(to over-simplify the promise) a sort of virtual gold that could not be touched by governments, banks or corporations. But in seeking to create the perfect system for such a currency, bitcoin's early creators also created a technology that has wide-ranging applications.
That technology is called the "blockchain"(CNBC has gone in depth into how it works), and this is basically what it does: It can record any information in a secure way, and make that information both public and unchangeable-doing this without relying on any central authority. Banks, stock exchanges, payment companies and othershave already begun exploringhow this can be used in their own businesses.
The issue at hand is about the structure of bitcoin's blockchain (which is composed of "blocks" of data with each block referring back to the preceding chunk of information-thereby creating a chain). The community is arguing about how big the maximum block size should be: The current max is one megabyte, which only allows for about seven transactions per second-far too few for most businesses currently investing in the technology.
This speed is a "roadblock to bitcoin growth," Jeff Garzik, one of five bitcoin core developers who have taken over maintenance of the technology,wrote in a recent paper. (Visa, for comparison, says its network can handle more than 24,000 transactions per second.)
Read MoreWhy is it called the 'blockchain?'
"Any responsible business projecting capacity usage into the future sees the system reaching an absolute maximum capacity, with this speed limit in place," he wrote. "Increasing or removing this limit will encourage businesses to view bitcoin as scalable and capable of supporting millions of new users."
The block size limit may also negatively impact bitcoin's original currency use-case: As the number of transaction requests exceed the limit, the user experience degrades: The pools of "miners" who help inscribe data onto the global network will begin charging ever-higher fees for processing, eliminating some of the appeal over other payment methods.
But there are reasons for limiting the size of a block. For one, it provides security for the system by constraining available space, and therefore making it costly to maliciously flood the network with spam.
Miners are generally against increasing the size too much: They would have to do more work on each block, but they'd still reap the same benefit per block (while transaction fees remain negligibly low), said Pete Rizzo, the U.S. editor for cryptocurrency site CoinDesk.
Also, some early adopters who plan to hold bitcoin for extended periods of time as an investment may prefer to keep the block size limit low-unbothered by transaction fees or business prospects, Garzik explained to CNBC.
But even if more interests seem to point to increasing the block size, there's no agreement what size is ideal-balancing present-day security and future promise-or how a change should be made.
Gavin Andresen, one of the most important developers of the technology,proposedincreasing the max size to 20 megabytes. (He did not respond to request for comment.)
A powerful constituency of Chinese miners-who also object to increasing the size of the block, saying their nation's Internet connection to the rest of the world would not allow it-made a counter proposalsuggestingan eight-megabyte maximum. Andresen has since backed a version of this plan.
Read MoreWhy financial firms are investigating bitcoin tech
For his part, Garzik proposed a sliding cap with a change to the bitcoin code allowing for periodic block increases (or even decreases) based on global miners' votes.
Different sources told CNBC that the most important parts of the community were variously leaning toward Garzik's proposal, an 8-megabyte increase, or just a small "can-kicking" measure to wait for technologies that might allow them to bypass the question.
But as a totally decentralized system, bitcoin has no clear way to weigh these disparate opinions and interests-in other words, no way to make a definitive decision.
Garzik called the block size debate the first major alteration to bitcoin policy since it began in January 2009. When other changes have been made, the core software has been changed, and the players on the network have quickly updated (anyone who doesn't follow the current protocol gets booted from the network until they comply).
But with a contentious issue like this, the developers risk splitting the network into those who want to follow one set of rules, and those who want another. If someone were to push out a global update without ensuring near-total consensus, a split could occur.
Read MoreBitcoin firm raises $116M, including Qualcomm investment
"That would be the worst of all possible options," Garzik said.
Bitcoin runs on a blockchain that is more secure and decentralized than any of its competitors because of its large user base and its comparatively lengthy history. If those users were to splinter, then the entire enterprise could be compromised.
So what's at stake? Hundreds of millions of dollars have been invested in bitcoin and blockchain-related companies, and the current value of all the bitcoin in existence is currentlyabout $4 billion.
The risks of a network split are low but not negligible, experts told CNBC.
"You're dealing with consensus among a community of people who aren't communicating very well-and haven't for some time," Rizzo said, explaining that making any change to the code risks breaking a technology that already works pretty well.
"At what point does that risk become untenable? At this point it's still within the realm of 'danger Will Robinson'-level risk," he added.
More From CNBC
• Top News and Analysis
• Latest News Video
• Personal Finance || Bitcoin's 'war' could threaten its survival: Bitcoin, the digital currency technology with an ecosystem attracting hundreds of millions of dollars in investment, is struggling through an existential crisis.
And what may to outsiders seem like petty squabbling about a single number actually has major financial implications and could even threaten the very survival of the cryptocurrency.
The argument-which is pitting Chinese constituencies against largely Western developers, the business community against the often ideological early adopters, and programmer against programmer-centers on a simple number in the global bitcoin system. But if the various parties can't come to an agreement, the whole network could splinter, wrecking its major selling points of security and decentralization.
"There is literally a war going on right now in the bitcoin world," Marco Streng, CEO of Genesis Mining, told CNBC last month.
There are two major questions facing the technology: Who is bitcoin for? And who gets to decide?
Most of the early adopters saw appeal in bitcoin as a decentralized digital currency(: BTC=)-(to over-simplify the promise) a sort of virtual gold that could not be touched by governments, banks or corporations. But in seeking to create the perfect system for such a currency, bitcoin's early creators also created a technology that has wide-ranging applications.
That technology is called the "blockchain"(CNBC has gone in depth into how it works), and this is basically what it does: It can record any information in a secure way, and make that information both public and unchangeable-doing this without relying on any central authority. Banks, stock exchanges, payment companies and othershave already begun exploringhow this can be used in their own businesses.
The issue at hand is about the structure of bitcoin's blockchain (which is composed of "blocks" of data with each block referring back to the preceding chunk of information-thereby creating a chain). The community is arguing about how big the maximum block size should be: The current max is one megabyte, which only allows for about seven transactions per second-far too few for most businesses currently investing in the technology.
This speed is a "roadblock to bitcoin growth," Jeff Garzik, one of five bitcoin core developers who have taken over maintenance of the technology,wrote in a recent paper. (Visa, for comparison, says its network can handle more than 24,000 transactions per second.)
Read MoreWhy is it called the 'blockchain?'
"Any responsible business projecting capacity usage into the future sees the system reaching an absolute maximum capacity, with this speed limit in place," he wrote. "Increasing or removing this limit will encourage businesses to view bitcoin as scalable and capable of supporting millions of new users."
The block size limit may also negatively impact bitcoin's original currency use-case: As the number of transaction requests exceed the limit, the user experience degrades: The pools of "miners" who help inscribe data onto the global network will begin charging ever-higher fees for processing, eliminating some of the appeal over other payment methods.
But there are reasons for limiting the size of a block. For one, it provides security for the system by constraining available space, and therefore making it costly to maliciously flood the network with spam.
Miners are generally against increasing the size too much: They would have to do more work on each block, but they'd still reap the same benefit per block (while transaction fees remain negligibly low), said Pete Rizzo, the U.S. editor for cryptocurrency site CoinDesk.
Also, some early adopters who plan to hold bitcoin for extended periods of time as an investment may prefer to keep the block size limit low-unbothered by transaction fees or business prospects, Garzik explained to CNBC.
But even if more interests seem to point to increasing the block size, there's no agreement what size is ideal-balancing present-day security and future promise-or how a change should be made.
Gavin Andresen, one of the most important developers of the technology,proposedincreasing the max size to 20 megabytes. (He did not respond to request for comment.)
A powerful constituency of Chinese miners-who also object to increasing the size of the block, saying their nation's Internet connection to the rest of the world would not allow it-made a counter proposalsuggestingan eight-megabyte maximum. Andresen has since backed a version of this plan.
Read MoreWhy financial firms are investigating bitcoin tech
For his part, Garzik proposed a sliding cap with a change to the bitcoin code allowing for periodic block increases (or even decreases) based on global miners' votes.
Different sources told CNBC that the most important parts of the community were variously leaning toward Garzik's proposal, an 8-megabyte increase, or just a small "can-kicking" measure to wait for technologies that might allow them to bypass the question.
But as a totally decentralized system, bitcoin has no clear way to weigh these disparate opinions and interests-in other words, no way to make a definitive decision.
Garzik called the block size debate the first major alteration to bitcoin policy since it began in January 2009. When other changes have been made, the core software has been changed, and the players on the network have quickly updated (anyone who doesn't follow the current protocol gets booted from the network until they comply).
But with a contentious issue like this, the developers risk splitting the network into those who want to follow one set of rules, and those who want another. If someone were to push out a global update without ensuring near-total consensus, a split could occur.
Read MoreBitcoin firm raises $116M, including Qualcomm investment
"That would be the worst of all possible options," Garzik said.
Bitcoin runs on a blockchain that is more secure and decentralized than any of its competitors because of its large user base and its comparatively lengthy history. If those users were to splinter, then the entire enterprise could be compromised.
So what's at stake? Hundreds of millions of dollars have been invested in bitcoin and blockchain-related companies, and the current value of all the bitcoin in existence is currentlyabout $4 billion.
The risks of a network split are low but not negligible, experts told CNBC.
"You're dealing with consensus among a community of people who aren't communicating very well-and haven't for some time," Rizzo said, explaining that making any change to the code risks breaking a technology that already works pretty well.
"At what point does that risk become untenable? At this point it's still within the realm of 'danger Will Robinson'-level risk," he added.
More From CNBC
• Top News and Analysis
• Latest News Video
• Personal Finance || The Future of Money; Bitcoin and Ether Shake It Up With Crypto-Currencies That Disrupt and Innovate: POINT ROBERTS, WA and NEW YORK, NY--(Marketwired - July 23, 2015) -Investorideas.com, a global news source covering leading sectors including Bitcoin and payment technology, release commentary about new crypto-currencies including Bitcoin and Ether. Experts from both sectors talk about the future of money as we know it and how to prepare for this new future.
Brad Moynes of Bit-X Financial(BITXF), Ryan Rabaglia, head of Wholesale, ANX, Terrence Dempsey of The Bitcoin Investment Trust(GBTC)and Gavin Wood of The Ethereum Project talk about disruption, opportunity and crypto-currencies.
Wedbush's recent bullish prediction of $400 Bitcoin prices has created buzz in the space and the industry is full of headlines -- with new entries from traditional financial institutions. Two pure public plays in the sector share insight from their perspectives and experience in Bitcoin.
Brad Moynes, CEO of Bit-X Financial(BITXF), recently launched a new Bitcoin exchange branded under the name Digatrade (https://digatrade.com/) and discussed how he sees Bitcoin as a disruptive currency with a long term future.
Brad's financial markets background that includes investment banking and corporate finance makes him pay attention to the recent entries into the Bitcoin market from key players on Wall Street, he told us. He sees regulation shaping the future of Bitcoin as it moves forward but his regulatory compliance background makes him comfortable with the process.
Digatrade (powered by ANX Technology) just launched at the end of June with Canadian currency and is working on multi-currency payment processing including USD, GBP & EUR next. It also recently announced it has enabled Canadian-based customer deposits via eCheck; "a significant milestone," Brad said, "Bitcoin is transforming the way consumers and businesses operate. Whether for cost-savings, speed, security or opening new market opportunities, visionary companies all over the world are turning to Bitcoin for their next phase of growth."
Brad also stated, "The evolution of finance is here for institutions. DigaTrade works with financial institutions across the world to enable them to harness the power of digital-currency. We provide a range of institutional storage and liquidity tools for accredited clients and provide access to advanced crypto-fiat transfer protocols and solutions."
He went on to say, "We believe we are creating an exchange that will give traders, businesses and institutions a world-class platform that is secure and user-friendly, creating an even playing field for anyone wanting to trade Bitcoin and participate in the future of money."
Ryan Rabaglia, head of Wholesale ANX, a Hong Kong-based company that is one of the most used Bitcoin exchange platforms worldwide, said, "It should come as no surprise that the consistently intensifying attraction to Bitcoin in China is very real. Transaction volumes out of China have been leading the way from a global perspective even prior to us experiencing peak prices in December 2013 and today is no different. With market prices and general trading interest recently being revived, a drive towards steady trading activity has been viewed here in Asia, on and off exchange."
He also said, "This, of course, has much deeper implications than the daily price of Bitcoin. We are seeing a real interest from a payments and funds transfer perspective as well. The interest for sizeable foreign investment has long been a stumbling block for Chinese citizens and Bitcoin offers that potential gateway."
Investorideas.com also talked to Terrence Dempsey of The Bitcoin Investment Trust(GBTC)to explain to investors the direct relationship of the Bitcoin pricing to the estimated share price of the recent 'outperform rating' on the stock from Wedbush.
Terrence explained, "The Bitcoin Investment Trust was created to give investors the ability to gain exposure to the price movements of Bitcoin without the challenges of buying and storing Bitcoin on their own and providing this exposure through a traditional titled security. As such, the Net Asset Value of the Trust is a direct representation of the price of Bitcoin. Each share of The Bitcoin Investment Trust represents approximately 0.1 Bitcoin and the Trust's Net Asset Value is set each business day using a 24-hour volume weighted price of Bitcoin based on TradeBlock's XBX Index."
He went on to explain, "The Bitcoin Investment Trust is a passive investment vehicle that only adds Bitcoin based on new investments and does not engage in the forecasting of prices or rely on any external research."
He also said, "Traditional payment providers or processers are likely going to need to innovate by either incorporating Bitcoin or another form of digital payments to increase efficiency and reduce costs in order to survive. We believe that many of these firms are actively looking at Bitcoin as a potential solution."
In talking about the future he noted, "In the short-term, Bitcoin has the opportunity to disrupt and innovate the payment space, particularly in global remittances and micro-payments. The ease of transacting and reduced costs when using Bitcoin compared to alternatives makes it a compelling choice. Further, with the influx of interest and investment from Wall Street in Bitcoin and Bitcoin related start-ups, it has the opportunity to overhaul the existing financial system making for more efficient trading and settlement of assets."
Gavin Wood of The Ethereum Project told Investorideas.com, "It exists as platform for managing the core 'business logic' of decentralised applications; the component typically managed by a server, databases and so forth for traditional, centralised applications. Through using blockchain technology, Ethereum provides unprecedented guarantees of security, auditability, availability and interoperability for all kinds of applications. To avoid potential 'spamming' problems, the Ethereum platform has an internal token ('Ether') allowing users of the platform to pay the validators ('miners') for their contribution in doing the computation and securing the network.
In some ways, Ether could be considered similar to the crypto-currency Bitcoin, however it differs in so much as Ether is not intended to be used as a general means of payment.
In simple terms, the notion of a decentralised web is a web without web servers. At present all web applications, such as eBay and Facebook, are 100% dependent on centralised servers, operated by specific for-profit corporations. Being centralised, they slurp up as much information on their users in an effort to boost their power and future profits.
Such corporations, we have painfully learnt, care very little about the privacy of their users or the integrity of their users' data. All too often important data (e.g. buying habits, payment information) is sold by, leaked by or stolen from the corporation. Punishment is rare and insignificant. Users are becoming increasingly savvy but as yet, few reasonable options exist for those displeased with the present state of affairs.
The decentralised web, or 'Web 3.0,' is a collection of technologies that utilise modern peer-based network designs to decentralise all aspects of data publication, application logic and signaling. Through protocols such as Whisper, Ethereum and Swarm we can start to imagine how rich web and mobile applications like eBay, Facebook, and Uber could be realized, without the need of centralised servers or an expensive intermediary. Users would share the maintenance of all infrastructure and consolidate the application logic such a reputation systems and payment mechanisms themselves. Well understood mathematical principles, similar to those on which Bitcoin is based, would guard users from disreputable operators or insecure payments.
A vastly simplified software infrastructure and smooth interoperation would allow services to be 'mashed-up' (combined) to unleash exciting potential business opportunities previously possible only through cumbersome cross-industry partnerships (e.g. imagine AirBnB with a simple checkbox for an Uber-based airport pickup). Through all of this, users would be safe in the knowledge that they share only as much data as is strictly required for the application to function; never giving away sensitive payment information and never having to trust one faceless organization over another. While this is an inconvenient truth now, it will become even more important as the data that our device manufacturers own begins to include information of a decidedly private and personal nature never before collected; how we sleep, how much we exercise, who we sleep with, our passing interests and so on.
Ethereum, or more accurately, the Ethereum Foundation, a non-profit organization based in Switzerland tasked with the initial development of the Ethereum Protocol and its subsequent advocacy and education, has developed the first piece of the puzzle. The efforts over the past 18-or-so months of myself, Vitalik and Jeff, together with our many developers and support staff, are nearly at a culmination with the release of the so-called 'Frontier' software, the first version of Ethereum capable of forming a secure network. However, decentralising the web is a lofty goal and is unlikely achievable by the foundation's efforts alone. I think it will take the cooperation of a number of projects such as IPFS, Telehash and well-aligned profit-orientated enterprises before we really begin to see the bigger picture. Once the foundation bows out from its tenure as a software developer, I fully expect to see many from the Ethereum Project move to develop within the ecosystem under a more entrepreneurial venture."
For investors considering investing in crypto-currency opportunities, be prepared for a fast and furious ride as the future of money races ahead of all us.
Bit-X Financial Corp.(BITXF)is a Vancouver, British Columbia based Company listed on the OTC.QB under the trading symbol BITXF. The Company owns and operates a digital currency exchange and internet financial services company: DIGATRADE™. BITXF is a reporting issuer in the Province of British Columbia, Canada with the British Columbia Securities Commission "BCSC" and in the United States with the Securities Exchange Commission "SEC."https://digatrade.com/
ANX - Your Crypto Connectionwww.anxbtc.com- Easy, Secure, and Affordablewww.anxpro.com- Altcoins, Algos, and Performance
About The Bitcoin Investment Trust(GBTC)The Bitcoin Investment Trust is a private, open-ended trust that is invested exclusively in Bitcoin and derives its value solely from the price of Bitcoin. It enables investors to gain exposure to the price movement of Bitcoin without the challenge of buying, storing, and safekeeping Bitcoins. The BIT's sponsor is Grayscale Investments, a wholly-owned subsidiary of Digital Currency Group.
About Investorideas.comInvestorIdeas.com newswire is a global investor news source covering multiple sectors including Bitcoin and payment technology.
Follow Investorideas.com on Twitterhttp://twitter.com/#!/InvestorideasFollow Investorideas.com on Facebookhttp://www.facebook.com/Investorideas
Sign up for free news alerts at Investorideas.comhttp://www.investorideas.com/Resources/Newsletter.asp
Disclaimer/ Disclosure: The Investorideas.com newswire is a third party publisher of news and research as well as creates original content as a news source. Original content created by investorideas is protected by copyright laws other than syndication rights. Investorideas is a news source on Google news syndication partners. Our site does not make recommendations for purchases or sale of stocks or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated by featured companies, news submissions, content marketing and online advertising. Contact each company directly for press release questions. Disclosure is posted on each release if required but otherwise the news was not compensated for and is published for the sole interest of our readers. Disclosure: BITXF is a PR client of Investorideas.com and compensates us for news publication, PR and media. (two thousand five hundred per month and 144 shares) More info:http://www.investorideas.com/About/News/Clientspecifics.aspandhttp://www.investorideas.com/About/Disclaimer.asp
BC Residents and Investor Disclaimer : Effective September 15 2008 - all BC investors should review all OTC and Pink sheet listed companies for adherence in new disclosure filings and filing appropriate documents with Sedar. Read for more info:http://www.bcsc.bc.ca/release.aspx?id=6894. Global investors must adhere to regulations of each country. || The Future of Money; Bitcoin and Ether Shake It Up With Crypto-Currencies That Disrupt and Innovate: POINT ROBERTS, WA and NEW YORK, NY --(Marketwired - July 23, 2015) - Investorideas.com, a global news source covering leading sectors including Bitcoin and payment technology, release commentary about new crypto-currencies including Bitcoin and Ether. Experts from both sectors talk about the future of money as we know it and how to prepare for this new future. Brad Moynes of Bit-X Financial ( BITXF ) , Ryan Rabaglia, head of Wholesale, ANX, Terrence Dempsey of The Bitcoin Investment Trust ( GBTC ) and Gavin Wood of The Ethereum Project talk about disruption, opportunity and crypto-currencies. Wedbush's recent bullish prediction of $400 Bitcoin prices has created buzz in the space and the industry is full of headlines -- with new entries from traditional financial institutions. Two pure public plays in the sector share insight from their perspectives and experience in Bitcoin. Brad Moynes, CEO of Bit-X Financial ( BITXF ) , recently launched a new Bitcoin exchange branded under the name Digatrade ( https://digatrade.com/ ) and discussed how he sees Bitcoin as a disruptive currency with a long term future. Brad's financial markets background that includes investment banking and corporate finance makes him pay attention to the recent entries into the Bitcoin market from key players on Wall Street, he told us. He sees regulation shaping the future of Bitcoin as it moves forward but his regulatory compliance background makes him comfortable with the process. Digatrade (powered by ANX Technology) just launched at the end of June with Canadian currency and is working on multi-currency payment processing including USD, GBP & EUR next. It also recently announced it has enabled Canadian-based customer deposits via eCheck; "a significant milestone," Brad said, "Bitcoin is transforming the way consumers and businesses operate. Whether for cost-savings, speed, security or opening new market opportunities, visionary companies all over the world are turning to Bitcoin for their next phase of growth." Story continues Brad also stated, "The evolution of finance is here for institutions. DigaTrade works with financial institutions across the world to enable them to harness the power of digital-currency. We provide a range of institutional storage and liquidity tools for accredited clients and provide access to advanced crypto-fiat transfer protocols and solutions." He went on to say, "We believe we are creating an exchange that will give traders, businesses and institutions a world-class platform that is secure and user-friendly, creating an even playing field for anyone wanting to trade Bitcoin and participate in the future of money." Ryan Rabaglia, head of Wholesale ANX, a Hong Kong-based company that is one of the most used Bitcoin exchange platforms worldwide, said, "It should come as no surprise that the consistently intensifying attraction to Bitcoin in China is very real. Transaction volumes out of China have been leading the way from a global perspective even prior to us experiencing peak prices in December 2013 and today is no different. With market prices and general trading interest recently being revived, a drive towards steady trading activity has been viewed here in Asia, on and off exchange." He also said, "This, of course, has much deeper implications than the daily price of Bitcoin. We are seeing a real interest from a payments and funds transfer perspective as well. The interest for sizeable foreign investment has long been a stumbling block for Chinese citizens and Bitcoin offers that potential gateway." Investorideas.com also talked to Terrence Dempsey of The Bitcoin Investment Trust ( GBTC ) to explain to investors the direct relationship of the Bitcoin pricing to the estimated share price of the recent 'outperform rating' on the stock from Wedbush. Terrence explained, "The Bitcoin Investment Trust was created to give investors the ability to gain exposure to the price movements of Bitcoin without the challenges of buying and storing Bitcoin on their own and providing this exposure through a traditional titled security. As such, the Net Asset Value of the Trust is a direct representation of the price of Bitcoin. Each share of The Bitcoin Investment Trust represents approximately 0.1 Bitcoin and the Trust's Net Asset Value is set each business day using a 24-hour volume weighted price of Bitcoin based on TradeBlock's XBX Index." He went on to explain, "The Bitcoin Investment Trust is a passive investment vehicle that only adds Bitcoin based on new investments and does not engage in the forecasting of prices or rely on any external research." He also said, "Traditional payment providers or processers are likely going to need to innovate by either incorporating Bitcoin or another form of digital payments to increase efficiency and reduce costs in order to survive. We believe that many of these firms are actively looking at Bitcoin as a potential solution." In talking about the future he noted, "In the short-term, Bitcoin has the opportunity to disrupt and innovate the payment space, particularly in global remittances and micro-payments. The ease of transacting and reduced costs when using Bitcoin compared to alternatives makes it a compelling choice. Further, with the influx of interest and investment from Wall Street in Bitcoin and Bitcoin related start-ups, it has the opportunity to overhaul the existing financial system making for more efficient trading and settlement of assets." Gavin Wood of The Ethereum Project told Investorideas.com, "It exists as platform for managing the core 'business logic' of decentralised applications; the component typically managed by a server, databases and so forth for traditional, centralised applications. Through using blockchain technology, Ethereum provides unprecedented guarantees of security, auditability, availability and interoperability for all kinds of applications. To avoid potential 'spamming' problems, the Ethereum platform has an internal token ('Ether') allowing users of the platform to pay the validators ('miners') for their contribution in doing the computation and securing the network. In some ways, Ether could be considered similar to the crypto-currency Bitcoin, however it differs in so much as Ether is not intended to be used as a general means of payment. In simple terms, the notion of a decentralised web is a web without web servers. At present all web applications, such as eBay and Facebook, are 100% dependent on centralised servers, operated by specific for-profit corporations. Being centralised, they slurp up as much information on their users in an effort to boost their power and future profits. Such corporations, we have painfully learnt, care very little about the privacy of their users or the integrity of their users' data. All too often important data (e.g. buying habits, payment information) is sold by, leaked by or stolen from the corporation. Punishment is rare and insignificant. Users are becoming increasingly savvy but as yet, few reasonable options exist for those displeased with the present state of affairs. The decentralised web, or 'Web 3.0,' is a collection of technologies that utilise modern peer-based network designs to decentralise all aspects of data publication, application logic and signaling. Through protocols such as Whisper, Ethereum and Swarm we can start to imagine how rich web and mobile applications like eBay, Facebook, and Uber could be realized, without the need of centralised servers or an expensive intermediary. Users would share the maintenance of all infrastructure and consolidate the application logic such a reputation systems and payment mechanisms themselves. Well understood mathematical principles, similar to those on which Bitcoin is based, would guard users from disreputable operators or insecure payments. A vastly simplified software infrastructure and smooth interoperation would allow services to be 'mashed-up' (combined) to unleash exciting potential business opportunities previously possible only through cumbersome cross-industry partnerships (e.g. imagine AirBnB with a simple checkbox for an Uber-based airport pickup). Through all of this, users would be safe in the knowledge that they share only as much data as is strictly required for the application to function; never giving away sensitive payment information and never having to trust one faceless organization over another. While this is an inconvenient truth now, it will become even more important as the data that our device manufacturers own begins to include information of a decidedly private and personal nature never before collected; how we sleep, how much we exercise, who we sleep with, our passing interests and so on. Ethereum, or more accurately, the Ethereum Foundation, a non-profit organization based in Switzerland tasked with the initial development of the Ethereum Protocol and its subsequent advocacy and education, has developed the first piece of the puzzle. The efforts over the past 18-or-so months of myself, Vitalik and Jeff, together with our many developers and support staff, are nearly at a culmination with the release of the so-called 'Frontier' software, the first version of Ethereum capable of forming a secure network. However, decentralising the web is a lofty goal and is unlikely achievable by the foundation's efforts alone. I think it will take the cooperation of a number of projects such as IPFS, Telehash and well-aligned profit-orientated enterprises before we really begin to see the bigger picture. Once the foundation bows out from its tenure as a software developer, I fully expect to see many from the Ethereum Project move to develop within the ecosystem under a more entrepreneurial venture." For investors considering investing in crypto-currency opportunities, be prepared for a fast and furious ride as the future of money races ahead of all us. Bit-X Financial Corp. ( BITXF ) is a Vancouver, British Columbia based Company listed on the OTC.QB under the trading symbol BITXF. The Company owns and operates a digital currency exchange and internet financial services company: DIGATRADE™. BITXF is a reporting issuer in the Province of British Columbia, Canada with the British Columbia Securities Commission "BCSC" and in the United States with the Securities Exchange Commission "SEC." https://digatrade.com/ ANX - Your Crypto Connection www.anxbtc.com - Easy, Secure, and Affordable www.anxpro.com - Altcoins, Algos, and Performance About The Bitcoin Investment Trust ( GBTC ) The Bitcoin Investment Trust is a private, open-ended trust that is invested exclusively in Bitcoin and derives its value solely from the price of Bitcoin. It enables investors to gain exposure to the price movement of Bitcoin without the challenge of buying, storing, and safekeeping Bitcoins. The BIT's sponsor is Grayscale Investments, a wholly-owned subsidiary of Digital Currency Group. About Investorideas.com InvestorIdeas.com newswire is a global investor news source covering multiple sectors including Bitcoin and payment technology. Follow Investorideas.com on Twitter http://twitter.com/#!/Investorideas Follow Investorideas.com on Facebook http://www.facebook.com/Investorideas Sign up for free news alerts at Investorideas.com http://www.investorideas.com/Resources/Newsletter.asp Disclaimer/ Disclosure: The Investorideas.com newswire is a third party publisher of news and research as well as creates original content as a news source. Original content created by investorideas is protected by copyright laws other than syndication rights. Investorideas is a news source on Google news syndication partners. Our site does not make recommendations for purchases or sale of stocks or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated by featured companies, news submissions, content marketing and online advertising. Contact each company directly for press release questions. Disclosure is posted on each release if required but otherwise the news was not compensated for and is published for the sole interest of our readers. Disclosure: BITXF is a PR client of Investorideas.com and compensates us for news publication, PR and media. (two thousand five hundred per month and 144 shares) More info: http://www.investorideas.com/About/News/Clientspecifics.asp and http://www.investorideas.com/About/Disclaimer.asp BC Residents and Investor Disclaimer : Effective September 15 2008 - all BC investors should review all OTC and Pink sheet listed companies for adherence in new disclosure filings and filing appropriate documents with Sedar. Read for more info: http://www.bcsc.bc.ca/release.aspx?id=6894 . Global investors must adhere to regulations of each country. || The Future of Money; Bitcoin and Ether Shake It Up With Crypto-Currencies That Disrupt and Innovate: POINT ROBERTS, WA and NEW YORK, NY--(Marketwired - July 23, 2015) -Investorideas.com, a global news source covering leading sectors including Bitcoin and payment technology, release commentary about new crypto-currencies including Bitcoin and Ether. Experts from both sectors talk about the future of money as we know it and how to prepare for this new future.
Brad Moynes of Bit-X Financial(BITXF), Ryan Rabaglia, head of Wholesale, ANX, Terrence Dempsey of The Bitcoin Investment Trust(GBTC)and Gavin Wood of The Ethereum Project talk about disruption, opportunity and crypto-currencies.
Wedbush's recent bullish prediction of $400 Bitcoin prices has created buzz in the space and the industry is full of headlines -- with new entries from traditional financial institutions. Two pure public plays in the sector share insight from their perspectives and experience in Bitcoin.
Brad Moynes, CEO of Bit-X Financial(BITXF), recently launched a new Bitcoin exchange branded under the name Digatrade (https://digatrade.com/) and discussed how he sees Bitcoin as a disruptive currency with a long term future.
Brad's financial markets background that includes investment banking and corporate finance makes him pay attention to the recent entries into the Bitcoin market from key players on Wall Street, he told us. He sees regulation shaping the future of Bitcoin as it moves forward but his regulatory compliance background makes him comfortable with the process.
Digatrade (powered by ANX Technology) just launched at the end of June with Canadian currency and is working on multi-currency payment processing including USD, GBP & EUR next. It also recently announced it has enabled Canadian-based customer deposits via eCheck; "a significant milestone," Brad said, "Bitcoin is transforming the way consumers and businesses operate. Whether for cost-savings, speed, security or opening new market opportunities, visionary companies all over the world are turning to Bitcoin for their next phase of growth."
Brad also stated, "The evolution of finance is here for institutions. DigaTrade works with financial institutions across the world to enable them to harness the power of digital-currency. We provide a range of institutional storage and liquidity tools for accredited clients and provide access to advanced crypto-fiat transfer protocols and solutions."
He went on to say, "We believe we are creating an exchange that will give traders, businesses and institutions a world-class platform that is secure and user-friendly, creating an even playing field for anyone wanting to trade Bitcoin and participate in the future of money."
Ryan Rabaglia, head of Wholesale ANX, a Hong Kong-based company that is one of the most used Bitcoin exchange platforms worldwide, said, "It should come as no surprise that the consistently intensifying attraction to Bitcoin in China is very real. Transaction volumes out of China have been leading the way from a global perspective even prior to us experiencing peak prices in December 2013 and today is no different. With market prices and general trading interest recently being revived, a drive towards steady trading activity has been viewed here in Asia, on and off exchange."
He also said, "This, of course, has much deeper implications than the daily price of Bitcoin. We are seeing a real interest from a payments and funds transfer perspective as well. The interest for sizeable foreign investment has long been a stumbling block for Chinese citizens and Bitcoin offers that potential gateway."
Investorideas.com also talked to Terrence Dempsey of The Bitcoin Investment Trust(GBTC)to explain to investors the direct relationship of the Bitcoin pricing to the estimated share price of the recent 'outperform rating' on the stock from Wedbush.
Terrence explained, "The Bitcoin Investment Trust was created to give investors the ability to gain exposure to the price movements of Bitcoin without the challenges of buying and storing Bitcoin on their own and providing this exposure through a traditional titled security. As such, the Net Asset Value of the Trust is a direct representation of the price of Bitcoin. Each share of The Bitcoin Investment Trust represents approximately 0.1 Bitcoin and the Trust's Net Asset Value is set each business day using a 24-hour volume weighted price of Bitcoin based on TradeBlock's XBX Index."
He went on to explain, "The Bitcoin Investment Trust is a passive investment vehicle that only adds Bitcoin based on new investments and does not engage in the forecasting of prices or rely on any external research."
He also said, "Traditional payment providers or processers are likely going to need to innovate by either incorporating Bitcoin or another form of digital payments to increase efficiency and reduce costs in order to survive. We believe that many of these firms are actively looking at Bitcoin as a potential solution."
In talking about the future he noted, "In the short-term, Bitcoin has the opportunity to disrupt and innovate the payment space, particularly in global remittances and micro-payments. The ease of transacting and reduced costs when using Bitcoin compared to alternatives makes it a compelling choice. Further, with the influx of interest and investment from Wall Street in Bitcoin and Bitcoin related start-ups, it has the opportunity to overhaul the existing financial system making for more efficient trading and settlement of assets."
Gavin Wood of The Ethereum Project told Investorideas.com, "It exists as platform for managing the core 'business logic' of decentralised applications; the component typically managed by a server, databases and so forth for traditional, centralised applications. Through using blockchain technology, Ethereum provides unprecedented guarantees of security, auditability, availability and interoperability for all kinds of applications. To avoid potential 'spamming' problems, the Ethereum platform has an internal token ('Ether') allowing users of the platform to pay the validators ('miners') for their contribution in doing the computation and securing the network.
In some ways, Ether could be considered similar to the crypto-currency Bitcoin, however it differs in so much as Ether is not intended to be used as a general means of payment.
In simple terms, the notion of a decentralised web is a web without web servers. At present all web applications, such as eBay and Facebook, are 100% dependent on centralised servers, operated by specific for-profit corporations. Being centralised, they slurp up as much information on their users in an effort to boost their power and future profits.
Such corporations, we have painfully learnt, care very little about the privacy of their users or the integrity of their users' data. All too often important data (e.g. buying habits, payment information) is sold by, leaked by or stolen from the corporation. Punishment is rare and insignificant. Users are becoming increasingly savvy but as yet, few reasonable options exist for those displeased with the present state of affairs.
The decentralised web, or 'Web 3.0,' is a collection of technologies that utilise modern peer-based network designs to decentralise all aspects of data publication, application logic and signaling. Through protocols such as Whisper, Ethereum and Swarm we can start to imagine how rich web and mobile applications like eBay, Facebook, and Uber could be realized, without the need of centralised servers or an expensive intermediary. Users would share the maintenance of all infrastructure and consolidate the application logic such a reputation systems and payment mechanisms themselves. Well understood mathematical principles, similar to those on which Bitcoin is based, would guard users from disreputable operators or insecure payments.
A vastly simplified software infrastructure and smooth interoperation would allow services to be 'mashed-up' (combined) to unleash exciting potential business opportunities previously possible only through cumbersome cross-industry partnerships (e.g. imagine AirBnB with a simple checkbox for an Uber-based airport pickup). Through all of this, users would be safe in the knowledge that they share only as much data as is strictly required for the application to function; never giving away sensitive payment information and never having to trust one faceless organization over another. While this is an inconvenient truth now, it will become even more important as the data that our device manufacturers own begins to include information of a decidedly private and personal nature never before collected; how we sleep, how much we exercise, who we sleep with, our passing interests and so on.
Ethereum, or more accurately, the Ethereum Foundation, a non-profit organization based in Switzerland tasked with the initial development of the Ethereum Protocol and its subsequent advocacy and education, has developed the first piece of the puzzle. The efforts over the past 18-or-so months of myself, Vitalik and Jeff, together with our many developers and support staff, are nearly at a culmination with the release of the so-called 'Frontier' software, the first version of Ethereum capable of forming a secure network. However, decentralising the web is a lofty goal and is unlikely achievable by the foundation's efforts alone. I think it will take the cooperation of a number of projects such as IPFS, Telehash and well-aligned profit-orientated enterprises before we really begin to see the bigger picture. Once the foundation bows out from its tenure as a software developer, I fully expect to see many from the Ethereum Project move to develop within the ecosystem under a more entrepreneurial venture."
For investors considering investing in crypto-currency opportunities, be prepared for a fast and furious ride as the future of money races ahead of all us.
Bit-X Financial Corp.(BITXF)is a Vancouver, British Columbia based Company listed on the OTC.QB under the trading symbol BITXF. The Company owns and operates a digital currency exchange and internet financial services company: DIGATRADE™. BITXF is a reporting issuer in the Province of British Columbia, Canada with the British Columbia Securities Commission "BCSC" and in the United States with the Securities Exchange Commission "SEC."https://digatrade.com/
ANX - Your Crypto Connectionwww.anxbtc.com- Easy, Secure, and Affordablewww.anxpro.com- Altcoins, Algos, and Performance
About The Bitcoin Investment Trust(GBTC)The Bitcoin Investment Trust is a private, open-ended trust that is invested exclusively in Bitcoin and derives its value solely from the price of Bitcoin. It enables investors to gain exposure to the price movement of Bitcoin without the challenge of buying, storing, and safekeeping Bitcoins. The BIT's sponsor is Grayscale Investments, a wholly-owned subsidiary of Digital Currency Group.
About Investorideas.comInvestorIdeas.com newswire is a global investor news source covering multiple sectors including Bitcoin and payment technology.
Follow Investorideas.com on Twitterhttp://twitter.com/#!/InvestorideasFollow Investorideas.com on Facebookhttp://www.facebook.com/Investorideas
Sign up for free news alerts at Investorideas.comhttp://www.investorideas.com/Resources/Newsletter.asp
Disclaimer/ Disclosure: The Investorideas.com newswire is a third party publisher of news and research as well as creates original content as a news source. Original content created by investorideas is protected by copyright laws other than syndication rights. Investorideas is a news source on Google news syndication partners. Our site does not make recommendations for purchases or sale of stocks or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated by featured companies, news submissions, content marketing and online advertising. Contact each company directly for press release questions. Disclosure is posted on each release if required but otherwise the news was not compensated for and is published for the sole interest of our readers. Disclosure: BITXF is a PR client of Investorideas.com and compensates us for news publication, PR and media. (two thousand five hundred per month and 144 shares) More info:http://www.investorideas.com/About/News/Clientspecifics.aspandhttp://www.investorideas.com/About/Disclaimer.asp
BC Residents and Investor Disclaimer : Effective September 15 2008 - all BC investors should review all OTC and Pink sheet listed companies for adherence in new disclosure filings and filing appropriate documents with Sedar. Read for more info:http://www.bcsc.bc.ca/release.aspx?id=6894. Global investors must adhere to regulations of each country.
[Social Media Buzz]
Current price: 189.48£ $BTCGBP $btc #bitcoin 2015-07-29 04:00:04 BST || #RDD / #BTC on the exchanges:
Cryptsy: Error
Bittrex: 0.00000006
Average $1.7E-5 per #reddcoin
00:30:01 || buysellbitco.in #bitcoin price in INR, Buy : 18848.00 INR Sell : 18267.00 INR. Buy and sell bitcoin in #India using #buysellbitcoin || buysellbitco.in #bitcoin price in INR, Buy : 18854.00 INR Sell : 18240.00 INR. Buy and sell bitcoin in #India using #buysellbitcoin || bitcoin rate-2015-07-28 PDT start_rate:$296.34 last...
|
287.72, 284.65, 281.60, 282.61, 281.23, 285.22, 281.88, 278.58, 279.58, 261.00
|
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 247.05, 245.31, 249.51, 251.99, 254.32, 262.87, 270.64, 261.64, 263.44, 269.46, 266.27, 274.02, 276.50, 281.65, 283.68, 285.30, 293.79, 304.62, 313.86, 328.02, 314.17, 325.43, 361.19, 403.42, 411.56, 386.35, 374.47, 386.48, 373.37, 380.26, 336.82, 311.08, 338.15, 336.75, 332.91, 320.17, 330.75, 335.09, 334.59, 326.15, 322.02, 326.93, 324.54, 323.05, 320.05, 328.21, 352.68, 358.04, 357.38, 371.29, 377.32, 362.49, 359.19, 361.05, 363.18, 388.95, 388.78, 395.54, 415.56, 417.56, 415.48, 451.94, 435.00, 433.76, 444.18, 465.32, 454.93, 456.08, 463.62, 462.32, 442.68, 438.64, 436.57, 442.40, 454.98, 455.65, 417.27, 422.82, 422.28, 432.98, 426.62, 430.57, 434.33, 433.44, 430.01, 433.09, 431.96, 429.11, 458.05, 453.23.
|
[Bitcoin Technical Analysis for 2016-01-08]
Volume: 56993000, RSI (14-day): 60.87, 50-day EMA: 409.66, 200-day EMA: 327.78
[Wider Market Context]
Gold Price: 1097.80, Gold RSI: 57.19
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Your first trade for Friday: The "Fast Money" traders delivered their final trades of the day.
Dan Nathan was a seller of Wal-Mart(WMT).
Steve Grasso was a buyer of American Eagle Outfitters(AEO).
Brian Kelly was a seller of Deutsche Bank(XETRA:DBK-DE).
Guy Adami was a buyer of the Market Vectors Gold Miners ETF(NYSE Arca: GDX)after picking Macy's(NYSE:M)three days in a row.
Trader disclosure: On January 7, 2016, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Dan Nathan is long MCD Feb put spread, long PFE buy-write, long TWTR March risk reversal, long UUP March call, long XLU Feb call spread, long PYPL Jan risk reversal, long M Jan16 call spread, long NTAP Jan risk reversal, long QCOM Feb calls, short SPY, long UUP, long WMT puts. Steve Grasso is long AAPL, BA, BAC, CC, DD, DIS, DECK, EVGN, KBH, MJNA, MBLY, MU, OLN, PFE, PHM, T, TWTR, GDX firm is long APC, CXO, OXY, BP, CVX, MCD, RIG, AMZN kids own EFA, EFG, EWJ, IJR, SPY. Brian Kelly is long BBRY, Bitcoin, GDX, GLD, Hong Kong Dollar, TLT, US Dollar; he is short British Pound, Euro, Yuan, Canadian Dollar, GSG, EEM, EWC, EWH, KRE, SPY, DB. Guy Adami is long CELG, EXAS, GDX, INTC, Guy Adami's wife, Linda Snow, works at Merck.
Wolfe Research Sr. Analyst Paul Sankey: No disclosures.
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• Personal Finance || Your first trade for Friday: The " Fast Money " traders delivered their final trades of the day. Dan Nathan was a seller of Wal-Mart ( WMT ) . Steve Grasso was a buyer of American Eagle Outfitters ( AEO ) . Brian Kelly was a seller of Deutsche Bank (XETRA:DBK-DE) . Guy Adami was a buyer of the Market Vectors Gold Miners ETF (NYSE Arca: GDX) after picking Macy's (NYSE: M ) three days in a row. Trader disclosure: On January 7, 2016, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Dan Nathan is l ong MCD Feb put spread, long PFE buy-write, long TWTR March risk reversal, long UUP March call, long XLU Feb call spread, long PYPL Jan risk reversal, long M Jan16 call spread, long NTAP Jan risk reversal, long QCOM Feb calls, short SPY, long UUP, long WMT puts. Steve Grasso is long AAPL, BA, BAC, CC, DD, DIS, DECK, EVGN, KBH, MJNA, MBLY, MU, OLN, PFE, PHM, T, TWTR, GDX firm is long APC, CXO, OXY, BP, CVX, MCD, RIG, AMZN kids own EFA, EFG, EWJ, IJR, SPY. Brian Kelly is long BBRY, Bitcoin, GDX, GLD, Hong Kong Dollar, TLT, US Dollar; he is short British Pound, Euro, Yuan, Canadian Dollar, GSG, EEM, EWC, EWH, KRE, SPY, DB. Guy Adami is long CELG, EXAS, GDX, INTC, Guy Adami's wife, Linda Snow, works at Merck. Wolfe Research Sr. Analyst Paul Sankey: No disclosures. More From CNBC Top News and Analysis Latest News Video Personal Finance || 10 Tech Predictions for 2016: As I always say, predicting what will happen in the tech industry over a short time horizon is a lot like shooting darts at Jell-O. But someone’s got to do it and it may as well be me. Besides, myprophecies for 2015didn’t do nearly as well asin 2014, and I’m itching to redeem myself.
I did hit a number of forecasts out of the park, including the success of Apple Pay and the demise of Twitter CEO Dick Costolo. And my prediction that the Nasdaq would break its all-time high and then fizzle out turned out to be reasonably accurate.
But a few of the calls I made, including those aboutnet neutralityand the Comcast – Time Warner Cable merger – were thwarted by Netflix CEO Reed Hastings and federal regulators. [Sigh.] And my bet oncinematic reality startup Magic Leapnever made the jump from virtual to reality.
Let’s see if I can do better this year. Here’s what my crystal ball says will happen in 2016:
Users will develop smart gadget fatigue.While smartphones and tablets, to a lesser extent, will continue to see strong growth in emerging markets, the growth curve will continue to flatten out in mature markets – especially among Android devices. Wearables will get a boost from Apple Watch 2 but unit sales will remain unimpressive compared with the incomparable iPhone.
Jack will tweak Twitter.O Twitter, Twitter! Wherefore art thou Twitter? The return of Jack Dorsey as CEO will see the cofounder do a lot of Facebook-like (move fast and break things) tweaking to Twitter, starting with increasing the 140 character tweet limit. Jack will continue to tweak the product until something good happens, as in renewed user growth and engagement.
Apple and Google car hype will reach fever pitch.Car tech is heating up in a big way. And since the market’s response to Apple’s first new products since Steve Jobs – Apple Watch and Apple TV (the product, not the hobby) – has been muted, fanboys will be clamoring for rumors on the car front. And Google will likewise be pressured to show progress on at least one of its massive Alphabet ventures, notably its self-driving car.
Drones will continue to bug neighbors, privacy buffs and the FAA.Drones will remain an annoying hobbyfor the foreseeable future. Unfortunately, nobody in desperate need of a midnight pizza or a six-pack will be getting one delivered by drone anytime soon. And definitely not anytime this year.
The digital and real worlds will meet in augmented reality (AR).Virtual reality has been the next big thingfor as far back as I can remember, but the technology behind Facebook Oculus Rift, Samsung Gear VR and Google Cardboard is becoming more real all the time. A breakthrough, however, is more likely in the AR space, where the digital and real worlds meet. That means something will pop from Magic Leap, Microsoft HoloLens, Google Glass 2, or who knows, maybe Apple.
The tech bubble will correct.With notable exceptions like Netflix and Amazon, tech stocks took a breather in 2015 after an impressive six-year bull run. But the slowing global economy, the Fed’s monetary tightening, and terrorism concerns will let some air out of theprivate equity bubbleand take the Nasdaq down into correction territory.
Satoshi Nakamoto, the mysterious Bitcoin founder, will not be found.Wired, Gizmodo and every other tech media outlet have been hot on the trail ofidentifying Satoshi Nakamoto, the pseudonym of Bitcoin’s mysterious founder. They thought they had it figured out a few weeks ago, but that turned out to be an elaborate hoax. Still, it was nowhere near as embarrassing asNewsweek’s Dorian Nakamotodebacle of 2014.
The IPO market will be weak.The private equity bubble is keeping late-stage startups that would ordinarily go public out of the IPO market. That will change when there’s a unicorn shakeout, investors get burned and VCs stop throwing money at startups at crazy valuations. That’s when tech companies will once again see public markets as viable exits. That’s when you’ll seeunicorns stampede on Wall Street. And it won’t be in 2016.
M&A activity will be strong.With the bull market running out of steam and private investors becoming more cautious, M&A exits will be on the rise. Unfortunately, a lot of them will be companies that maintain high burn rates until it’s too late and end up going for dimes on a dollar in fire sales.
Yahoo will sell its core business and Marissa Mayer will be out as CEO.Here’s a fun little rhyme for 2016, courtesy of Humpty Dumpty:
Yahoo Yahoo sat on a wallYahoo Yahoo had a great fallAll the Valley’s CEOs and all the Valley’s chairmenCouldn’t put Yahoo Yahoo together again
Jerry Yang, Carol Bartz, Roy Bostock, Tim Morse, Scott Thompson, Ross Levinsohn, Fred Amoroso, Maynard Webb. I’m sure I missed a CEO or chairman somewhere in there, but in any case, enough is enough. It’s long past time to put this company, its board, and Marissa Mayer out of their misery. Yahoo will be acquired or taken private in 2016.
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• The Most Annoying Aspects of Our Tech-Crazed Culture || 10 Tech Predictions for 2016: As I always say, predicting what will happen in the tech industry over a short time horizon is a lot like shooting darts at Jell-O. But someone’s got to do it and it may as well be me. Besides, my prophecies for 2015 didn’t do nearly as well as in 2014 , and I’m itching to redeem myself. I did hit a number of forecasts out of the park, including the success of Apple Pay and the demise of Twitter CEO Dick Costolo. And my prediction that the Nasdaq would break its all-time high and then fizzle out turned out to be reasonably accurate. But a few of the calls I made, including those about net neutrality and the Comcast – Time Warner Cable merger – were thwarted by Netflix CEO Reed Hastings and federal regulators. [Sigh.] And my bet on cinematic reality startup Magic Leap never made the jump from virtual to reality. Let’s see if I can do better this year. Here’s what my crystal ball says will happen in 2016: Users will develop smart gadget fatigue. While smartphones and tablets, to a lesser extent, will continue to see strong growth in emerging markets, the growth curve will continue to flatten out in mature markets – especially among Android devices. Wearables will get a boost from Apple Watch 2 but unit sales will remain unimpressive compared with the incomparable iPhone. Jack will tweak Twitter. O Twitter, Twitter! Wherefore art thou Twitter? The return of Jack Dorsey as CEO will see the cofounder do a lot of Facebook-like (move fast and break things) tweaking to Twitter, starting with increasing the 140 character tweet limit. Jack will continue to tweak the product until something good happens, as in renewed user growth and engagement. Apple and Google car hype will reach fever pitch. Car tech is heating up in a big way. And since the market’s response to Apple’s first new products since Steve Jobs – Apple Watch and Apple TV (the product, not the hobby) – has been muted, fanboys will be clamoring for rumors on the car front. And Google will likewise be pressured to show progress on at least one of its massive Alphabet ventures, notably its self-driving car. Drones will continue to bug neighbors, privacy buffs and the FAA. Drones will remain an annoying hobby for the foreseeable future. Unfortunately, nobody in desperate need of a midnight pizza or a six-pack will be getting one delivered by drone anytime soon. And definitely not anytime this year. The digital and real worlds will meet in augmented reality (AR). Virtual reality has been the next big thing for as far back as I can remember, but the technology behind Facebook Oculus Rift, Samsung Gear VR and Google Cardboard is becoming more real all the time. A breakthrough, however, is more likely in the AR space, where the digital and real worlds meet. That means something will pop from Magic Leap, Microsoft HoloLens, Google Glass 2, or who knows, maybe Apple. Story continues The tech bubble will correct. With notable exceptions like Netflix and Amazon, tech stocks took a breather in 2015 after an impressive six-year bull run. But the slowing global economy, the Fed’s monetary tightening, and terrorism concerns will let some air out of the private equity bubble and take the Nasdaq down into correction territory. Satoshi Nakamoto, the mysterious Bitcoin founder, will not be found. Wired, Gizmodo and every other tech media outlet have been hot on the trail of identifying Satoshi Nakamoto , the pseudonym of Bitcoin’s mysterious founder. They thought they had it figured out a few weeks ago, but that turned out to be an elaborate hoax. Still, it was nowhere near as embarrassing as Newsweek’s Dorian Nakamoto debacle of 2014. The IPO market will be weak. The private equity bubble is keeping late-stage startups that would ordinarily go public out of the IPO market. That will change when there’s a unicorn shakeout, investors get burned and VCs stop throwing money at startups at crazy valuations. That’s when tech companies will once again see public markets as viable exits. That’s when you’ll see unicorns stampede on Wall Street . And it won’t be in 2016. M&A activity will be strong. With the bull market running out of steam and private investors becoming more cautious, M&A exits will be on the rise. Unfortunately, a lot of them will be companies that maintain high burn rates until it’s too late and end up going for dimes on a dollar in fire sales. Yahoo will sell its core business and Marissa Mayer will be out as CEO. Here’s a fun little rhyme for 2016, courtesy of Humpty Dumpty: Yahoo Yahoo sat on a wall Yahoo Yahoo had a great fall All the Valley’s CEOs and all the Valley’s chairmen Couldn’t put Yahoo Yahoo together again Jerry Yang, Carol Bartz, Roy Bostock, Tim Morse, Scott Thompson, Ross Levinsohn, Fred Amoroso, Maynard Webb. I’m sure I missed a CEO or chairman somewhere in there, but in any case, enough is enough. It’s long past time to put this company, its board, and Marissa Mayer out of their misery. Yahoo will be acquired or taken private in 2016. Related Articles GM Eyes the Future With $500M Bet on Lyft Where You Can Watch and Participate in the GOP Debate The Most Annoying Aspects of Our Tech-Crazed Culture View comments || Cable & Wireless Communications and Huawei Have Successfully Tested the First Trial of the Fastest Copper Based Broadband Service With G.fast Across Latin America: MIAMI, FL--(Marketwired - Jan 6, 2016) - Cable & Wireless Communications Plc's (CWC) business unit in Panama, Cable & Wireless Panama SA (CWP) and Huawei , a leading global information and communications technology (ICT) solutions provider, today announced the first successful trial of the fastest copper based broadband service across Latin America using leading G.fast technology. As a market leader in mobile and broadband services in Panama, CWP is also the largest telecom service provider in the country with a market leading brand, superior network coverage and excellent customer service. CWP partnered with Huawei to deploy CWC's first trial of the G.fast technology on its existing copper infrastructure. "We are excited to be partnering with Cable & Wireless Communications and together pioneering the first trial of the fastest copper fixed line broadband service with G.fast across Latin America," said Mr. Stephen Ma, CEO of Huawei for the Caribbean. "G.fast is the right way to extend the existing fixed line infrastructure to the gigabit access era by accelerating a future oriented ultra-broadband solution with unparalleled user experiences," he added. The G.fast technology trial ran for two months in Panama deploying Huawei's latest multi-service access node equipment. CWP's trial successfully achieved high speeds averaging 500 Mbps to download and 150 Mbps to upload, over its existing copper fixed lines. "We are thrilled to announce that Cable & Wireless Panama was the first market across Latin America to have successfully completed testing of the G.fast technology, which can deliver high speeds, to its customers through the fastest copper based fixed line broadband technology across the region reaching speeds of 500 Mbps," said Carlo Alloni, EVP Technology and Group CTIO, Cable & Wireless Communications. "Our strategic partnership with Huawei has strengthened our commitment to consider solutions that deliver high-speeds," added Alloni. G.fast technology is based on the Time Division Multiplexing (TDM) method with an improved algorithm that cancels the noise in the lines, reducing the effects of crosstalk and allowing transmission of higher rates of bits with a better quality, increasing the speeds of the information transmitted. Huawei's G.fast solution can complement the other technologies selected for its HFC (Hybrid fiber-coaxial) and Fibre delivery platforms. CWP's G.fast technology is providing a fivefold increase in speeds compared to any existing internet copper residential service in Panama and empowering the fastest copper fixed line broadband service across Latin America. Story continues About Huawei Huawei is a leading global information and communications technology (ICT) solutions provider. Driven by customer-centric innovation and open partnerships, Huawei has established an end-to-end ICT solutions portfolio that gives customers competitive advantages in telecom and enterprise networks, devices and cloud computing. Its innovative ICT solutions, products and services are used in more than 170 countries and regions, serving over one-third of the world's population. Founded in 1987, Huawei is a private company fully owned by its employees. About G.fast G.fast is a digital subscriber line (DSL) standard for local loops, with performance targets between 150 Mbps and 1 Gbps, depending on loop length. Since the launch of the world's first G.FAST prototype by Huawei in December 2011, G.FAST technology has become highly anticipated by the ICT industry and has maintained strong development momentum. About C&W Communications Cable & Wireless Communications Plc (CWC) is a full service communications and entertainment provider, operating in the Caribbean and Latin America. With annual sales of over $2.4bn, it operates both mobile and fixed networks, supported by submarine and terrestrial optical fibre backhaul capacity. Through the acquisition of Columbus International Inc. on 31 March 2015, CWC now delivers superior high-speed mobile data, broadband and video services. It has leading market positions in Mobile, Fixed Line, Broadband and Video consumer offers. Through its business division, CWC provides data centre hosting, domestic and international managed network services, and customised IT service solutions, utilising cloud technology to serve business and government customers. The company also operates a state-of-the-art subsea fibre optic cable network that spans more than 42,000 km -- the most extensive in the region -- as well as 38,000 km of terrestrial fibre providing wholesale and carrier backhaul capacity. CWC has more than 7,200 employees serving over 6.3 million customers (Mobile 4.1m; Fixed Line 1.1m; Video 465k and Broadband 680k) as well as over 125k corporate clients across 42 countries. The Company's leading brands include; LIME and Flow in the Caribbean; BTC in The Bahamas; Mas Movil in Panama; C&W Business and C&W Networks. CWC is the market leader in most products offered and territories served. It is a major contributor to local communities through its corporate social responsibility programmes. Cable & Wireless Communications' shares are quoted on the London Stock Exchange under the ticker CWC. The company is headquartered in London with its operational hub located in Miami, within close proximity to the Caribbean and Latin America. For more information visit: www.cwc.com . About CWP Cable & Wireless Panama (CWP) is the market leader in mobile, broadband and fixed line services in Panama. The Company's mobile business operates under the brand name +Movil and the other businesses under + internet and +TV Digital in Panama. CWP is also a leading regional player in enterprise and managed services as well as being a leader in carrier services in partnership with our Caribbean business. View comments || Cable & Wireless Communications and Huawei Have Successfully Tested the First Trial of the Fastest Copper Based Broadband Service With G.fast Across Latin America: MIAMI, FL--(Marketwired - Jan 6, 2016) -Cable & Wireless CommunicationsPlc's (CWC) business unit in Panama,Cable & Wireless PanamaSA (CWP) andHuawei, a leading global information and communications technology (ICT) solutions provider, today announced the first successful trial of the fastest copper based broadband service across Latin America using leading G.fast technology.
As a market leader in mobile and broadband services in Panama, CWP is also the largest telecom service provider in the country with a market leading brand, superior network coverage and excellent customer service. CWP partnered with Huawei to deploy CWC's first trial of the G.fast technology on its existing copper infrastructure.
"We are excited to be partnering with Cable & Wireless Communications and together pioneering the first trial of the fastest copper fixed line broadband service with G.fast across Latin America," said Mr. Stephen Ma, CEO of Huawei for the Caribbean. "G.fast is the right way to extend the existing fixed line infrastructure to the gigabit access era by accelerating a future oriented ultra-broadband solution with unparalleled user experiences," he added.
The G.fast technology trial ran for two months in Panama deploying Huawei's latest multi-service access node equipment. CWP's trial successfully achieved high speeds averaging 500 Mbps to download and 150 Mbps to upload, over its existing copper fixed lines.
"We are thrilled to announce that Cable & Wireless Panama was the first market across Latin America to have successfully completed testing of the G.fast technology, which can deliver high speeds, to its customers through the fastest copper based fixed line broadband technology across the region reaching speeds of 500 Mbps," said Carlo Alloni, EVP Technology and Group CTIO, Cable & Wireless Communications. "Our strategic partnership with Huawei has strengthened our commitment to consider solutions that deliver high-speeds," added Alloni.
G.fast technology is based on the Time Division Multiplexing (TDM) method with an improved algorithm that cancels the noise in the lines, reducing the effects of crosstalk and allowing transmission of higher rates of bits with a better quality, increasing the speeds of the information transmitted.
Huawei's G.fast solution can complement the other technologies selected for its HFC (Hybrid fiber-coaxial) and Fibre delivery platforms. CWP's G.fast technology is providing a fivefold increase in speeds compared to any existing internet copper residential service in Panama and empowering the fastest copper fixed line broadband service across Latin America.
About HuaweiHuawei is a leading global information and communications technology (ICT) solutions provider. Driven by customer-centric innovation and open partnerships, Huawei has established an end-to-end ICT solutions portfolio that gives customers competitive advantages in telecom and enterprise networks, devices and cloud computing. Its innovative ICT solutions, products and services are used in more than 170 countries and regions, serving over one-third of the world's population. Founded in 1987, Huawei is a private company fully owned by its employees.
About G.fastG.fast is a digital subscriber line (DSL) standard for local loops, with performance targets between 150 Mbps and 1 Gbps, depending on loop length. Since the launch of the world's first G.FAST prototype by Huawei in December 2011, G.FAST technology has become highly anticipated by the ICT industry and has maintained strong development momentum.
About C&W CommunicationsCable & Wireless Communications Plc (CWC) is a full service communications and entertainment provider, operating in the Caribbean and Latin America. With annual sales of over $2.4bn, it operates both mobile and fixed networks, supported by submarine and terrestrial optical fibre backhaul capacity. Through the acquisition of Columbus International Inc. on 31 March 2015, CWC now delivers superior high-speed mobile data, broadband and video services. It has leading market positions in Mobile, Fixed Line, Broadband and Video consumer offers.
Through its business division, CWC provides data centre hosting, domestic and international managed network services, and customised IT service solutions, utilising cloud technology to serve business and government customers.
The company also operates a state-of-the-art subsea fibre optic cable network that spans more than 42,000 km -- the most extensive in the region -- as well as 38,000 km of terrestrial fibre providing wholesale and carrier backhaul capacity.
CWC has more than 7,200 employees serving over 6.3 million customers (Mobile 4.1m; Fixed Line 1.1m; Video 465k and Broadband 680k) as well as over 125k corporate clients across 42 countries. The Company's leading brands include; LIME and Flow in the Caribbean; BTC in The Bahamas; Mas Movil in Panama; C&W Business and C&W Networks. CWC is the market leader in most products offered and territories served. It is a major contributor to local communities through its corporate social responsibility programmes.
Cable & Wireless Communications' shares are quoted on the London Stock Exchange under the ticker CWC. The company is headquartered in London with its operational hub located in Miami, within close proximity to the Caribbean and Latin America.
For more information visit:www.cwc.com.
About CWPCable & Wireless Panama (CWP) is the market leader in mobile, broadband and fixed line services in Panama. The Company's mobile business operates under the brand name +Movil and the other businesses under + internet and +TV Digital in Panama. CWP is also a leading regional player in enterprise and managed services as well as being a leader in carrier services in partnership with our Caribbean business. || Mike Tyson Dives Deeper Into Bitcoin: Former boxing star Mike Tyson is deepening his interest in the bitcoin space by creating a digital bitcoin wallet that will allow users to store, purchase and sell the cryptocurrency. The wallet was developed by Bitcoin Direct in partnership with BitPay and will be one of the first wallets that allows users to buy and sell from inside the app.
Tyson's Bitcoin Projects
This is not Tyson's first foray into the bitcoin space. He partnered with Bitcoin Direct last year to launch a line of bitcoin ATMs that gave people the ability to turn cash into bitcoins at any machine's location. Now, with Tyson endorsing a wallet as well, many are wondering whether or not celebrity attention will drive mainstream usage.
The new wallet will feature Tyson's tribal face tattoo as the background image and is available for download on iOS. An Android version is expected to be released in the coming weeks.
Celebrity Appeal
Bitcoin Direct believes that Tyson's popularity around the world and across several generations makes him a good option to engage the masses,saying that his"potential to expand the Bitcoin market is dramatic." However, it remains unknown whether or not the power of celebrity will be enough to encourage new users.
Safety Still A Concern
Although celebrity endorsements often get products more notoriety, bitcoin itself has struggled with safety and security issues that some believe can't be overcome by a recognizable face. Tyson may bring more attention to the cryptocurrency community, but he may not be able to convince the public that it is trustworthy. Instead, many believe that more regulation is the real key to taking bitcoin mainstream as that would provide users with more protections.
Image credit:Eduardo Merille, Flickr
See more from Benzinga
• Court Case Means Emissions Scandal Isn't Going Away For Volkswagen
• What To Make Of Monday's Market Selloff
• General Motors Kicks Off The Year With A Bang
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Mike Tyson Dives Deeper Into Bitcoin: Former boxing star Mike Tyson is deepening his interest in the bitcoin space by creating a digital bitcoin wallet that will allow users to store, purchase and sell the cryptocurrency. The wallet was developed by Bitcoin Direct in partnership with BitPay and will be one of the first wallets that allows users to buy and sell from inside the app.
Tyson's Bitcoin Projects
This is not Tyson's first foray into the bitcoin space. He partnered with Bitcoin Direct last year to launch a line of bitcoin ATMs that gave people the ability to turn cash into bitcoins at any machine's location. Now, with Tyson endorsing a wallet as well, many are wondering whether or not celebrity attention will drive mainstream usage.
The new wallet will feature Tyson's tribal face tattoo as the background image and is available for download on iOS. An Android version is expected to be released in the coming weeks.
Celebrity Appeal
Bitcoin Direct believes that Tyson's popularity around the world and across several generations makes him a good option to engage the masses,saying that his"potential to expand the Bitcoin market is dramatic." However, it remains unknown whether or not the power of celebrity will be enough to encourage new users.
Safety Still A Concern
Although celebrity endorsements often get products more notoriety, bitcoin itself has struggled with safety and security issues that some believe can't be overcome by a recognizable face. Tyson may bring more attention to the cryptocurrency community, but he may not be able to convince the public that it is trustworthy. Instead, many believe that more regulation is the real key to taking bitcoin mainstream as that would provide users with more protections.
Image credit:Eduardo Merille, Flickr
See more from Benzinga
• Court Case Means Emissions Scandal Isn't Going Away For Volkswagen
• What To Make Of Monday's Market Selloff
• General Motors Kicks Off The Year With A Bang
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Mike Tyson Dives Deeper Into Bitcoin: Former boxing star Mike Tyson is deepening his interest in the bitcoin space by creating a digital bitcoin wallet that will allow users to store, purchase and sell the cryptocurrency. The wallet was developed by Bitcoin Direct in partnership with BitPay and will be one of the first wallets that allows users to buy and sell from inside the app. Tyson's Bitcoin Projects This is not Tyson's first foray into the bitcoin space. He partnered with Bitcoin Direct last year to launch a line of bitcoin ATMs that gave people the ability to turn cash into bitcoins at any machine's location. Now, with Tyson endorsing a wallet as well, many are wondering whether or not celebrity attention will drive mainstream usage. The new wallet will feature Tyson's tribal face tattoo as the background image and is available for download on iOS. An Android version is expected to be released in the coming weeks. Celebrity Appeal Bitcoin Direct believes that Tyson's popularity around the world and across several generations makes him a good option to engage the masses, saying that his "potential to expand the Bitcoin market is dramatic." However, it remains unknown whether or not the power of celebrity will be enough to encourage new users. Safety Still A Concern Although celebrity endorsements often get products more notoriety, bitcoin itself has struggled with safety and security issues that some believe can't be overcome by a recognizable face. Tyson may bring more attention to the cryptocurrency community, but he may not be able to convince the public that it is trustworthy. Instead, many believe that more regulation is the real key to taking bitcoin mainstream as that would provide users with more protections. Image credit: Eduardo Merille , Flickr See more from Benzinga Court Case Means Emissions Scandal Isn't Going Away For Volkswagen What To Make Of Monday's Market Selloff General Motors Kicks Off The Year With A Bang © 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Investors Set Sail With Cruise-Line Investments In 2016: 2015 proved to be a lucrative year for many cruise liners, as an improving economy and low fuel prices created the perfect conditions for a rebuilding year.
Industry juggernautCarnival Corp(NYSE:CCL) saw its shares rise 19.43 percent over the course of the year, andBarron'ssees the firm climbing another 20 percent this year, a sign that the industry can expect smooth waters ahead.
Safety In The Water
Carnival Corp has been touted as one of the safest plays in the cruise industry, because the company is the largest operator in the world. Carnival has ships in almost every body of water on the planet, operating popular names like Carnival Cruise Lines, Princess Cruises and Costa Cruises. Not only does the company have a massive brand appeal and staying power, but Carnival also pays out the heftiest dividend with a yield of 2.2 percent.
Related Link:Barron's Picks And Pans: Carnival, Pandora, American Capital And More
Expanding Into China
Another reason the cruise industry is set to continue gaining through 2016 is the potential for expansion in China as cruise holidays gain popularity. For investors looking to play this angle,Royal Caribbean Cruises Ltd(NYSE:RCL) orNorwegian Cruise Line Holdings Ltd(NASDAQ:NCLH) could be smart plays.
Royal Caribbean has proven to be popular among the Chinese population and has been pushing upscale ships with luxury rooms that have brought in a great deal of interest. Norwegian is a relatively new entrant into the Chinese market, but the firm has been able to learn from its peers who have already penetrated the market and by offering customers a tailored experience different from what European or North American customers prefer.
Image Credit: Public Domain
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• 4 CEOs With A Tough Year Ahead
• Ledger Fights For Bitcoin's Staying Power At CES 2016
• Virtual Reality In 2016
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Investors Set Sail With Cruise-Line Investments In 2016: 2015 proved to be a lucrative year for many cruise liners, as an improving economy and low fuel prices created the perfect conditions for a rebuilding year. Industry juggernaut Carnival Corp (NYSE: CCL ) saw its shares rise 19.43 percent over the course of the year, and Barron's sees the firm climbing another 20 percent this year, a sign that the industry can expect smooth waters ahead. Safety In The Water Carnival Corp has been touted as one of the safest plays in the cruise industry, because the company is the largest operator in the world. Carnival has ships in almost every body of water on the planet, operating popular names like Carnival Cruise Lines, Princess Cruises and Costa Cruises. Not only does the company have a massive brand appeal and staying power, but Carnival also pays out the heftiest dividend with a yield of 2.2 percent. Related Link: Barron's Picks And Pans: Carnival, Pandora, American Capital And More Expanding Into China Another reason the cruise industry is set to continue gaining through 2016 is the potential for expansion in China as cruise holidays gain popularity. For investors looking to play this angle, Royal Caribbean Cruises Ltd (NYSE: RCL ) or Norwegian Cruise Line Holdings Ltd (NASDAQ: NCLH ) could be smart plays. Royal Caribbean has proven to be popular among the Chinese population and has been pushing upscale ships with luxury rooms that have brought in a great deal of interest. Norwegian is a relatively new entrant into the Chinese market, but the firm has been able to learn from its peers who have already penetrated the market and by offering customers a tailored experience different from what European or North American customers prefer. Image Credit: Public Domain See more from Benzinga 4 CEOs With A Tough Year Ahead Ledger Fights For Bitcoin's Staying Power At CES 2016 Virtual Reality In 2016 © 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Ledger Fights For Bitcoin's Staying Power At CES 2016: The Consumer Electronics Show in Las Vegas is a chance for electronics and technology firms to debut their latest offerings and future prospects. Everything from self-driving cars to mind-blowing virtual reality sets have made their debut at CES, and each year the show tends to set the tone for what kind of tech will be big in the coming year. This year, bitcoin startup Ledger is keeping the cryptocurrency in the spotlight by hosting the only bitcoin startup booth at the event. Physical Bitcoin Storage Ledger created a hardware wallet product in 2015 that provides customers with a safe and secure way to store and use their bitcoins. Ledger takes some of the worry out of using bitcoin by giving users a physical way to store bitcoins – a lightweight smart card. They can then use a USB to make secure payments, and the company offers a simple backup system that provides users with a microchip and pin code encrypted system in case they lose their card. Related Link: Can The Bitcoin Foundation Last? This year, Ledger is planning to exhibit new offerings at CES including a new technology that will strengthen the security of online authentication by reducing the reliance on passwords. Bitcoin's Year Ledger's presence at CES suggests that although bitcoin had a rough year in 2015, the cryptocurrency isn't dead yet. Concerns about privacy and security have increased skepticism about cryptocurrencies, making it difficult for bitcoin firms to push mainstream approval. However, many believe that as security improves and more and more vendors open up to the possibility of bitcoin transactions, the public will get on board. Image Credit: Public Domain See more from Benzinga Virtual Reality In 2016 Is Tesla A Good Investment For 2016? 3 CEOs Who Made Headlines In 2015 © 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Ledger Fights For Bitcoin's Staying Power At CES 2016: The Consumer Electronics Show in Las Vegas is a chance for electronics and technology firms to debut their latest offerings and future prospects. Everything from self-driving cars to mind-blowing virtual reality sets have made their debut at CES, and each year the show tends to set the tone for what kind of tech will be big in the coming year.
This year, bitcoin startupLedgeris keeping the cryptocurrency in the spotlight by hosting the only bitcoin startup booth at the event.
Physical Bitcoin Storage
Ledger created a hardware wallet product in 2015 that provides customers with a safe and secure way to store and use their bitcoins. Ledger takes some of the worry out of using bitcoin by giving users a physical way to store bitcoins – a lightweight smart card. They can then use a USB to make secure payments, and the company offers a simple backup system that provides users with a microchip and pin code encrypted system in case they lose their card.
Related Link:Can The Bitcoin Foundation Last?
This year, Ledger is planning to exhibit new offerings at CES including a new technology that will strengthen the security of online authentication by reducing the reliance on passwords.
Bitcoin's Year
Ledger's presence at CES suggests that although bitcoin had a rough year in 2015, the cryptocurrency isn't dead yet. Concerns about privacy and security have increased skepticism about cryptocurrencies, making it difficult for bitcoin firms to push mainstream approval. However, many believe that as security improves and more and more vendors open up to the possibility of bitcoin transactions, the public will get on board.
Image Credit: Public Domain
See more from Benzinga
• Virtual Reality In 2016
• Is Tesla A Good Investment For 2016?
• 3 CEOs Who Made Headlines In 2015
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Ledger Fights For Bitcoin's Staying Power At CES 2016: The Consumer Electronics Show in Las Vegas is a chance for electronics and technology firms to debut their latest offerings and future prospects. Everything from self-driving cars to mind-blowing virtual reality sets have made their debut at CES, and each year the show tends to set the tone for what kind of tech will be big in the coming year.
This year, bitcoin startupLedgeris keeping the cryptocurrency in the spotlight by hosting the only bitcoin startup booth at the event.
Physical Bitcoin Storage
Ledger created a hardware wallet product in 2015 that provides customers with a safe and secure way to store and use their bitcoins. Ledger takes some of the worry out of using bitcoin by giving users a physical way to store bitcoins – a lightweight smart card. They can then use a USB to make secure payments, and the company offers a simple backup system that provides users with a microchip and pin code encrypted system in case they lose their card.
Related Link:Can The Bitcoin Foundation Last?
This year, Ledger is planning to exhibit new offerings at CES including a new technology that will strengthen the security of online authentication by reducing the reliance on passwords.
Bitcoin's Year
Ledger's presence at CES suggests that although bitcoin had a rough year in 2015, the cryptocurrency isn't dead yet. Concerns about privacy and security have increased skepticism about cryptocurrencies, making it difficult for bitcoin firms to push mainstream approval. However, many believe that as security improves and more and more vendors open up to the possibility of bitcoin transactions, the public will get on board.
Image Credit: Public Domain
See more from Benzinga
• Virtual Reality In 2016
• Is Tesla A Good Investment For 2016?
• 3 CEOs Who Made Headlines In 2015
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
[Social Media Buzz]
LIVE: Profit = $943.09 (11.22 %). BUY B20.41 @ $420.00 (#VirCurex). SELL @ $458.42 (#Bitfinex) #bitcoin #btc - http://www.projectcoin.org || #RDD / #BTC on the exchanges: Cryptsy: 0.00000006 Bittrex: 0.00000005 Average $2.3E-5 per #reddcoin 17:00:53 via #p…pic.twitter.com/AEOeH3rTHi || In the last 10 mins, there were arb opps spanning 17 exchange pair(s), yielding profits ranging between $0.00 and $802.58 #bitcoin #btc || $455.00 at 15:30 UTC [24h Range: $450.00 - $465.00 Volume: 10082 BTC] || ...
|
447.61, 447.99, 448.43, 435.69, 432.37, 430.31, 364.33, 387.54, 382.30, 387.17
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Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 8599.51, 8562.45, 8869.67, 8787.79, 8755.25, 9078.76, 9122.55, 8909.95, 8108.12, 7923.64, 7909.73, 7911.43, 4970.79, 5563.71, 5200.37, 5392.31, 5014.48, 5225.63, 5238.44, 6191.19, 6198.78, 6185.07, 5830.25, 6416.31, 6734.80, 6681.06, 6716.44, 6469.80, 6242.19, 5922.04, 6429.84, 6438.64, 6606.78, 6793.62, 6733.39, 6867.53, 6791.13, 7271.78, 7176.41, 7334.10, 7302.09, 6865.49, 6859.08, 6971.09, 6845.04, 6842.43, 6642.11, 7116.80, 7096.18, 7257.67, 7189.42, 6881.96, 6880.32, 7117.21, 7429.72, 7550.90, 7569.94, 7679.87, 7795.60, 7807.06, 8801.04, 8658.55, 8864.77, 8988.60, 8897.47, 8912.65, 9003.07, 9268.76, 9951.52, 9842.67, 9593.90, 8756.43, 8601.80, 8804.48, 9269.99, 9733.72, 9328.20, 9377.01, 9670.74, 9726.58, 9729.04, 9522.98, 9081.76, 9182.58, 9209.29, 8790.37, 8906.93, 8835.05, 9181.02, 9525.75.
|
[Bitcoin Technical Analysis for 2020-05-28]
Volume: 34367073114, RSI (14-day): 58.48, 50-day EMA: 8625.50, 200-day EMA: 8232.75
[Wider Market Context]
Gold Price: 1713.30, Gold RSI: 50.70
Oil Price: 33.71, Oil RSI: 60.53
[Recent News (last 7 days)]
Plaintiffs in Craig Wright case present new evidence that he fabricated his list of Bitcoin addresses and blocks: Plaintiffs in theKleinman v. Wrightlawsuit havefiled a new motionin support of their previously filed sanctions motion, arguing a list of unclaimed bitcoin addresses and blocks he submitted to the court is fraudulent. They have asked the court to issue case-terminating sanctions which would include imposing a judgment against Wright for bad faith conduct.
Wright claims he is the anonymous bitcoin creator Satoshi Nakamoto. The list of addresses was meant to substantiate this claim, and Wright has sworn that the private keys for each address are locked in a trust he cannot access.
This new filing points to a message signed with the private keys, which was sent to 145 of the addresses in the list.
"Craig Steven Wright is a liar and a fraud," read the message. "He doesn't have the keys used to sign this message...We are all Satoshi."
All 145 signatures used to sign the message are valid, according to the filing, and therefore, whoever authored the message possesses the keys. For this reason, the plaintiffs argued Wright's list was intentionally deceptive.
"This message further proves that the list is not an accurate listing of Wright’s bitcoin, and that he is still hiding the true list from Plaintiffs and the Court," the filing stated.
Remarkably, the list was not necessarily meant to be public, according to the latest filing. The plaintiffs indicated that they had filed the list on the public docket by mistake, due to an administrative oversight.
This is not the first time Wright has been accused of purposeful deception in his legal dealings. The Blockreported on the implicationsof Wright's legal tactics earlier this week.
© 2020 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice. || Plaintiffs in Craig Wright case present new evidence that he fabricated his list of Bitcoin addresses and blocks: Plaintiffs in the Kleinman v. Wright lawsuit have filed a new motion in support of their previously filed sanctions motion, arguing a list of unclaimed bitcoin addresses and blocks he submitted to the court is fraudulent. They have asked the court to issue case-terminating sanctions which would include imposing a judgment against Wright for bad faith conduct. Wright claims he is the anonymous bitcoin creator Satoshi Nakamoto. The list of addresses was meant to substantiate this claim, and Wright has sworn that the private keys for each address are locked in a trust he cannot access. This new filing points to a message signed with the private keys, which was sent to 145 of the addresses in the list. "Craig Steven Wright is a liar and a fraud," read the message. "He doesn't have the keys used to sign this message...We are all Satoshi." All 145 signatures used to sign the message are valid, according to the filing, and therefore, whoever authored the message possesses the keys. For this reason, the plaintiffs argued Wright's list was intentionally deceptive. "This message further proves that the list is not an accurate listing of Wrights bitcoin, and that he is still hiding the true list from Plaintiffs and the Court," the filing stated. Remarkably, the list was not necessarily meant to be public, according to the latest filing. The plaintiffs indicated that they had filed the list on the public docket by mistake, due to an administrative oversight. This is not the first time Wright has been accused of purposeful deception in his legal dealings. The Block reported on the implications of Wright's legal tactics earlier this week. © 2020 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice. || Plaintiffs in Craig Wright case present new evidence that he fabricated his list of Bitcoin addresses and blocks: Plaintiffs in theKleinman v. Wrightlawsuit havefiled a new motionin support of their previously filed sanctions motion, arguing a list of unclaimed bitcoin addresses and blocks he submitted to the court is fraudulent. They have asked the court to issue case-terminating sanctions which would include imposing a judgment against Wright for bad faith conduct.
Wright claims he is the anonymous bitcoin creator Satoshi Nakamoto. The list of addresses was meant to substantiate this claim, and Wright has sworn that the private keys for each address are locked in a trust he cannot access.
This new filing points to a message signed with the private keys, which was sent to 145 of the addresses in the list.
"Craig Steven Wright is a liar and a fraud," read the message. "He doesn't have the keys used to sign this message...We are all Satoshi."
All 145 signatures used to sign the message are valid, according to the filing, and therefore, whoever authored the message possesses the keys. For this reason, the plaintiffs argued Wright's list was intentionally deceptive.
"This message further proves that the list is not an accurate listing of Wright’s bitcoin, and that he is still hiding the true list from Plaintiffs and the Court," the filing stated.
Remarkably, the list was not necessarily meant to be public, according to the latest filing. The plaintiffs indicated that they had filed the list on the public docket by mistake, due to an administrative oversight.
This is not the first time Wright has been accused of purposeful deception in his legal dealings. The Blockreported on the implicationsof Wright's legal tactics earlier this week.
© 2020 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice. || ‘Decentralized ID at All Costs’: Adviser Quits ID2020 Over Blockchain Fixation: A member of the ID2020 Alliance, which aims to bring digital identities to billions of people, has resigned over the organization’s direction on digital immunity passes and COVID-19. In her resignation email Friday, Elizabeth Renieris cited ID2020’s opacity, “techno-solutionism” and corporate influence along with the risks of applying blockchain to immunity passes. “At this stage, I can no longer even describe what ID2020’s mission is with any confidence,” wrote Renieris, who was one of six members of ID2020’s technical advisory committee. “All I can perceive is a desire to promote decentralized identity solutions at all costs.” Related: Enigma Blockchain Has a New Name and a Privacy Boost in the Works Renieris (an occasional CoinDesk contributor ) is a fellow at the Berkman Klein Center for Internet and Society at Harvard University and an expert in cross-border data protection and privacy issues. She was previously in-house counsel at two digital identity startups. Her concerns about the technology, which highlight the trade-offs between health and privacy during the pandemic, are spelled out in a white paper published in mid-May . She says the introduction of immunity passes could interfere with people’s privacy, freedom of association, assembly, and movement. “Blockchain-enabled ‘immunity certificates’ or ‘immunity passports’ for COVID-19, if implemented by public authorities, would have serious consequences for our fundamental human rights and civil liberties,” she writes. The discord within ID2020 hints at larger debates around where to use distributed ledger technology (DLT), and where it may create more problems than it solves. But when it comes to the issue of immunity passes, the stakes seem higher. Related: Handshake Domains Bring in $10M as Race for Censorship-Resistant Websites Heats Up Renieris worries about how the influence of corporations like Microsoft may influence the development of these systems. Kim Cameron, Architect of Identity at Microsoft, sits on ID2020’s board, and Kim Gagné, newly appointed as Board Chair , also worked at Microsoft. Story continues “Who is doing the building here is a critical vulnerability, as critical as any technical challenge,” said Renieris. “This is 100% a hammer looking for a nail.” Ticket to ride? Immunity passports or certificates are digital or physical documents that individuals would receive if they had tested positive for COVID-19 antibodies. Traditionally, development of antibodies after a disease offers some level of immunity, though scientists are still working to sort out whether this is the case, or how long such immunity might last, when it comes to COVID-19. Potentially, immunity passports allow people to return to work and have greater freedom of movement. See also: Immunity Passes Explained: Should We Worry About Privacy? In late April, the World Health Organization warned against the idea of immunity passports , and said there was “no evidence that people who have recovered from COVID-19 and have antibodies are protected from a second infection.” But countries such as Chile said they would move ahead with such passes , despite the WHO’s warning. The ID2020 Alliance is a public-private partnership, with partners including Microsoft, Accenture and Hyperledger. It hopes to develop a global model for the design, funding, and implementation of “digital ID solutions and technologies,” according to the website. ID2020 published a white paper in April urging policymakers, technology providers, and civil society groups to collaborate to ensure that digital health credentials or “immunity certificates,” if implemented, are designed to protect privacy and civil liberties. This is 100% a hammer looking for a nail. According to Renieris, the paper initially cited the Covid Credentials Initiative (which is advocating for immunity passes based in part on blockchain) and Microsoft’s work with blockchain. It said these are potential solutions for privacy and identity questions around immunity passes. But when Renieris queried their inclusion, the section was dropped because, says Renieris, ID2020 did not want to deal with the tech problems those initiatives would raise. The initiative neglects to acknowledge any technology-specific risks of a blockchain based approach, instead highlighting generic risks that could apply to any technological solution, said Renieris. While she says she was told the paper would be published as Executive Director Dakota Gruener’s personal view, the press release that was put out around the paper framed it as an ID2020 paper. “I cannot be part of an organization overly influenced by commercial interests that that only pays lip service to human rights,” she wrote in her resignation. “The stakes are simply too high at this stage.” ID2020 responds In a statement to CoinDesk, Gruener said technology solutions are not a panacea for the pandemic and must be accompanied by robust, fit-for-purpose trust frameworks and legislative and regulatory actions to ensure ethical implementation and transparency. ID2020 has sought feedback from civil liberties and digital privacy groups to ensure that these considerations are built into the technical architecture of any digital health certificate system. “The stakes are high and we have one chance to get this right,” said Gruener. “Even with these safeguards in place, digital health certificates may still be insufficient to meet the current challenge. However, absent such safeguards, we can be assured that they will do more harm than good.” As CoinDesk has reported previously, a number of organizations and companies are actively exploring the idea of immunity passes based on blockchain technology. See also: Citizen App’s New Contact Tracing Feature Raises Privacy Red Flags Renieris wrote the paper published in May with global health researcher Sherri Bucher of Indiana University School of Medicine,and Christian Smith, CEO of Stranger Labs, which researches, develops, and designs advanced technologies that enhance privacy and security. In it they criticize the CCI initiative ID2020 initially touted, which proposes combining a World Wide Web Consortium (W3C) standard for Verifiable Credentials (VCs) with non-standard decentralized identifiers (DIDs) and DLT. The architecture is a product of premature standardization , experimental technologies, and speculative requirements, the authors argue, questioning whether these solutions can support such a critical role in public safety as immunity passes. They also criticize the lack of a proven method of private key management for end-users, especially in offline instances, which digital immunity passports would likely have to include, and say the VC specification merely “provides a data model, not a complete protocol or end-to-end solution.” UPDATE (May 28, 03:50 UTC): This article has been updated with additional comments. Related Stories Enjin’s New Minecraft Plug-in Lets Players Spawn Blockchain Assets Bitcoin Transaction Fees Decline as Network Congestion Eases || ‘Decentralized ID at All Costs’: Adviser Quits ID2020 Over Blockchain Fixation: A member of theID2020Alliance, which aims to bring digital identities to billions of people, has resigned over the organization’s direction on digital immunity passes and COVID-19.
In her resignation email Friday, Elizabeth Renieris cited ID2020’s opacity, “techno-solutionism” and corporate influence along with the risks of applying blockchain to immunity passes.
“At this stage, I can no longer even describe what ID2020’s mission is with any confidence,” wrote Renieris, who was one of six members of ID2020’s technical advisory committee. “All I can perceive is a desire to promote decentralized identity solutions at all costs.”
Related:Enigma Blockchain Has a New Name and a Privacy Boost in the Works
Renieris (an occasional CoinDeskcontributor) is a fellow at the Berkman Klein Center for Internet and Society at Harvard University and an expert in cross-border data protection and privacy issues. She was previously in-house counsel at two digital identity startups.
Her concerns about the technology, which highlight the trade-offs between health and privacy during the pandemic, are spelled outin a white paper published in mid-May. She says the introduction of immunity passes could interfere with people’s privacy, freedom of association, assembly, and movement.
“Blockchain-enabled ‘immunity certificates’ or ‘immunity passports’ for COVID-19, if implemented by public authorities, would have serious consequences for our fundamental human rights and civil liberties,” she writes.
The discord within ID2020 hints at larger debates around where to use distributed ledger technology (DLT), and where it may create more problems than it solves. But when it comes to the issue of immunity passes, the stakes seem higher.
Related:Handshake Domains Bring in $10M as Race for Censorship-Resistant Websites Heats Up
Renieris worries about how the influence of corporations like Microsoft may influence the development of these systems.
Kim Cameron, Architect of Identity at Microsoft, sits on ID2020’s board, and Kim Gagné,newly appointed as Board Chair, also worked at Microsoft.
“Who is doing the building here is a critical vulnerability, as critical as any technical challenge,” said Renieris. “This is 100% a hammer looking for a nail.”
Immunity passports or certificatesare digital or physical documents that individuals would receive if they had tested positive for COVID-19 antibodies. Traditionally, development of antibodies after a disease offers some level of immunity, though scientists are still working to sort out whether this is the case, or how long such immunity might last, when it comes to COVID-19. Potentially, immunity passports allow people to return to work and have greater freedom of movement.
See also:Immunity Passes Explained: Should We Worry About Privacy?
In late April, the World Health Organizationwarned against the idea of immunity passports, and said there was “no evidence that people who have recovered from COVID-19 and have antibodies are protected from a second infection.” But countries such as Chilesaid they would move ahead with such passes, despite the WHO’s warning.
The ID2020 Alliance is a public-private partnership, with partners including Microsoft, Accenture and Hyperledger. It hopes to develop a global model for the design, funding, and implementation of “digital ID solutions and technologies,” according to the website.
ID2020 published awhite paperin April urging policymakers, technology providers, and civil society groups to collaborate to ensure that digital health credentials or “immunity certificates,” if implemented, are designed to protect privacy and civil liberties.
This is 100% a hammer looking for a nail.
According to Renieris, the paper initially cited the Covid Credentials Initiative (which is advocating for immunity passes based in part on blockchain) and Microsoft’s work with blockchain. It said these are potential solutions for privacy and identity questions around immunity passes. But when Renieris queried their inclusion, the section was dropped because, says Renieris, ID2020 did not want to deal with the tech problems those initiatives would raise.
The initiative neglects to acknowledge any technology-specific risks of a blockchain based approach, instead highlighting generic risks that could apply to any technological solution, said Renieris. While she says she was told the paper would be published as Executive Director Dakota Gruener’s personal view, the press release that was put out around the paper framed it as an ID2020 paper.
“I cannot be part of an organization overly influenced by commercial interests that that only pays lip service to human rights,” she wrote in her resignation. “The stakes are simply too high at this stage.”
In a statement to CoinDesk, Gruener said technology solutions are not a panacea for the pandemic and must be accompanied by robust, fit-for-purpose trust frameworks and legislative and regulatory actions to ensure ethical implementation and transparency.
ID2020 has sought feedback from civil liberties and digital privacy groups to ensure that these considerations are built into the technical architecture of any digital health certificate system.
“The stakes are high and we have one chance to get this right,” said Gruener. “Even with these safeguards in place, digital health certificates may still be insufficient to meet the current challenge. However, absent such safeguards, we can be assured that they will do more harm than good.”
As CoinDesk has reported previously, a number of organizations and companies are actively exploring theidea of immunity passes based on blockchain technology.
See also:Citizen App’s New Contact Tracing Feature Raises Privacy Red Flags
Renieriswrote the paperpublished in May with global health researcher Sherri Bucher of Indiana University School of Medicine,and Christian Smith, CEO of Stranger Labs, which researches, develops, and designs advanced technologies that enhance privacy and security.
In it they criticize the CCIinitiativeID2020 initially touted, which proposes combining a World Wide Web Consortium (W3C) standard forVerifiable Credentials(VCs) with non-standarddecentralized identifiers(DIDs) and DLT. The architecture is a product ofpremature standardization, experimental technologies, and speculative requirements, the authors argue, questioning whether these solutions can support such a critical role in public safety as immunity passes.
They also criticize the lack of a proven method of private key management for end-users, especially in offline instances, which digital immunity passports would likely have to include, and say the VC specification merely “provides a data model, not a complete protocol or end-to-end solution.”
UPDATE (May 28, 03:50 UTC):This article has been updated with additional comments.
• Enjin’s New Minecraft Plug-in Lets Players Spawn Blockchain Assets
• Bitcoin Transaction Fees Decline as Network Congestion Eases || Goldman Sachs: Cryptocurrencies ‘Are Not an Asset Class’: Goldman Sachs held an investor call Wednesday to discuss current policies for bitcoin, gold and inflation in the context of the COVID-19 crisis. The big takeaway? The stalwart investment bank is still no fan of bitcoin or other cryptocurrencies.
Aslideshowreleased before the call cited hacks and other losses related to cryptocurrencies as well as their use to “abet illicit activities” as some potential liabilities.
Seven of Goldman’s 35 slides mentionbitcoin, but the people on the call only discussed bitcoin for roughly five minutes at the end, with no questions taken after.
Related:Bitcoin News Roundup for May 28, 2020
In thecall materials, Goldman notes that while cryptocurrencies like bitcoin “have received enormous attention,” they “are not an asset class.”
Why? The reasons include bitcoin’s inherent lack of cash flow, unlike bonds, and its inability to generate earnings through exposure to global economic growth, according to the presentation. Goldman also notes bitcoin’s volatility, citing the recentdropto 12-month lows in early March. The price spiked nearly 5% to $9,200 a few hours before the call.
See also:Number of Bitcoins on Crypto Exchanges Hits 18-Month Low
Some professional cryptocurrency analysts were less than impressed by Goldman’s analysis.“The criticisms were very cookie cutter, the type you’d expect if someone just read mainstream headlines,” said Ryan Watkins, bitcoin analyst at Messari and former investment banking analyst at Moelis & Company. “It’s like they didn’t fully diligence the asset.”
Related:Bitcoin Price Tests $9.4K as Demand for Put Options Drops
Goldman’s cash flow argument was particularly odd to Tom Masojada, co-founder of OVEX Digital Asset Exchange.
“Many investments that Goldman labels as ‘suitable for clients’ do not generate cash flows and are primarily dependent on whether someone is willing to pay a higher price at a later date,” hesaidon Twitter.
“One could argue bitcoin isn’t backed by anything, but to liken it to a game of hot potato ignores the subjective value such a novel asset provides,” said Kevin Kelly, former equity analyst at Bloomberg and co-founder of Delphi Digital, a cryptocurrency research firm that recently published a comprehensivereporton bitcoin.
Bitcoin’s current value, according to Kelly, is backed by “the demand for an apolitical speculative asset that may or may not turn out to be one of the world’s most valuable safe havens.”
The two Goldman speakers on the call, its head of research and a Harvard economics professor, said several bitcoin forks, which they refer to as “nearly identical clones,” occupy three of the six largest cryptocurrencies by market value. With this, Goldman inferred that cryptocurrencies as a whole “are not a scarce resource,” according to the presentation.
See also:Bitcoin Transaction Fees Decline as Network Congestion Eases
This critique is “particularly eye roll worthy,” Watkins told CoinDesk. “Forks are their own assets and have nothing to do with bitcoin.”
In its conclusion, Goldman does not recommend investing in bitcoin “on a strategic or tactical basis for clients’ investment portfolios even though its volatility might lend itself to momentum-oriented traders.”
“I was hoping for a more constructive call,” said Kyle Davies, co-founder of cryptocurrency trading firm Three Arrows Capital. Still, he added, “The fact that they are having this call, period, means there’s a lot of interest.”
• Market Wrap: Bullish Traders Push Bitcoin Over $9,100, Returning to Halving Levels
• Bitcoin Transaction Fees Decline as Network Congestion Eases || Goldman Sachs: Cryptocurrencies ‘Are Not an Asset Class’: Goldman Sachs held an investor call Wednesday to discuss current policies for bitcoin, gold and inflation in the context of the COVID-19 crisis. The big takeaway? The stalwart investment bank is still no fan of bitcoin or other cryptocurrencies. A slideshow released before the call cited hacks and other losses related to cryptocurrencies as well as their use to “abet illicit activities” as some potential liabilities. Seven of Goldman’s 35 slides mention bitcoin , but the people on the call only discussed bitcoin for roughly five minutes at the end, with no questions taken after. Related: Bitcoin News Roundup for May 28, 2020 In the call materials , Goldman notes that while cryptocurrencies like bitcoin “have received enormous attention,” they “are not an asset class.” Why? The reasons include bitcoin’s inherent lack of cash flow, unlike bonds, and its inability to generate earnings through exposure to global economic growth, according to the presentation. Goldman also notes bitcoin’s volatility, citing the recent drop to 12-month lows in early March. The price spiked nearly 5% to $9,200 a few hours before the call. See also: Number of Bitcoins on Crypto Exchanges Hits 18-Month Low Some professional cryptocurrency analysts were less than impressed by Goldman’s analysis. “The criticisms were very cookie cutter, the type you’d expect if someone just read mainstream headlines,” said Ryan Watkins, bitcoin analyst at Messari and former investment banking analyst at Moelis & Company. “It’s like they didn’t fully diligence the asset.” Related: Bitcoin Price Tests $9.4K as Demand for Put Options Drops Goldman’s cash flow argument was particularly odd to Tom Masojada, co-founder of OVEX Digital Asset Exchange. “Many investments that Goldman labels as ‘suitable for clients’ do not generate cash flows and are primarily dependent on whether someone is willing to pay a higher price at a later date,” he said on Twitter. “One could argue bitcoin isn’t backed by anything, but to liken it to a game of hot potato ignores the subjective value such a novel asset provides,” said Kevin Kelly, former equity analyst at Bloomberg and co-founder of Delphi Digital, a cryptocurrency research firm that recently published a comprehensive report on bitcoin. Story continues Bitcoin’s current value, according to Kelly, is backed by “the demand for an apolitical speculative asset that may or may not turn out to be one of the world’s most valuable safe havens.” The two Goldman speakers on the call, its head of research and a Harvard economics professor, said several bitcoin forks, which they refer to as “nearly identical clones,” occupy three of the six largest cryptocurrencies by market value. With this, Goldman inferred that cryptocurrencies as a whole “are not a scarce resource,” according to the presentation. See also: Bitcoin Transaction Fees Decline as Network Congestion Eases This critique is “particularly eye roll worthy,” Watkins told CoinDesk. “Forks are their own assets and have nothing to do with bitcoin.” In its conclusion, Goldman does not recommend investing in bitcoin “on a strategic or tactical basis for clients’ investment portfolios even though its volatility might lend itself to momentum-oriented traders.” “I was hoping for a more constructive call,” said Kyle Davies, co-founder of cryptocurrency trading firm Three Arrows Capital. Still, he added, “The fact that they are having this call, period, means there’s a lot of interest.” Related Stories Market Wrap: Bullish Traders Push Bitcoin Over $9,100, Returning to Halving Levels Bitcoin Transaction Fees Decline as Network Congestion Eases || CryptoKitties developer launches NBA TopShot, a new blockchain-based collectible collab with the NBA: WhenDapper LabslaunchedCryptoKittiesback in November 2017, the company's take on Tamagotchi was seen as the first popular use of blockchain-based applications. It was the first popular use case outside of Bitcoin as a speculative investment.
Like all fads, CryptoKitties didn't last, but the app proved thatDapper Labscould build a compelling collectible -- and that brought the company the attention of the National Basketball Association.
Now Dapper Labs is finally launching a beta version of theNBA TopShotapp it has worked on since it began discussions with the league and Players Association back in 2018.
Built on the company's own blockchain, the app is the latest attempt from blockchain companies to take on the sports world's fixation with collectibles.Bayern Munich signed an agreement with Stryking Entertainmentto create digital tokens of its players -- and that company is developing a fantasy sports platform called Football-Stars, according to the WebsiteSportsTechie. Even the Sacramento Kings have their own blockchain-powered auction platform.
"At its core it’s digital collectibles," said Caty Tedman, the vice president of partnerships at Dapper Labs. "They’re multimedia and data smashed together into a token. That includes heroic photography and a video as well through a partnership with SportRadar. We have all the metadata from the game. The box score … the context. Any everyday block might not be as memorable as when LeBron put someone on a poster."
The collectible component is only one aspect of the game, which will include opportunities to showcase collections, get new tokens by completing in-app challenges and a challenge feature where players can use their team to engage in one-on-one games using the collective skills from the roster ofNBAstars that a user has collected.
The first iteration is 2019 to 2020 moments of the season, but Dapper Labs expects to reach back into the archive to use historical all-stars.
The tokens will be sold in packs that range in price from $9 to the mid-$200 range, according to Tedman. The game will also include a peer-to-peer marketplace for trading the tokens.
"These digital moments are much closer to physical trading card collecting as opposed to an in-app purchase… they have that same feeling," said Tedman. || CryptoKitties developer launches NBA TopShot, a new blockchain-based collectible collab with the NBA: When Dapper Labs launched CryptoKitties back in November 2017, the company's take on Tamagotchi was seen as the first popular use of blockchain-based applications. It was the first popular use case outside of Bitcoin as a speculative investment. Like all fads, CryptoKitties didn't last, but the app proved that Dapper Labs could build a compelling collectible -- and that brought the company the attention of the National Basketball Association. Now Dapper Labs is finally launching a beta version of the NBA TopShot app it has worked on since it began discussions with the league and Players Association back in 2018. Built on the company's own blockchain, the app is the latest attempt from blockchain companies to take on the sports world's fixation with collectibles. Bayern Munich signed an agreement with Stryking Entertainment to create digital tokens of its players -- and that company is developing a fantasy sports platform called Football-Stars, according to the Website SportsTechie . Even the Sacramento Kings have their own blockchain-powered auction platform. "At its core it’s digital collectibles," said Caty Tedman, the vice president of partnerships at Dapper Labs. "They’re multimedia and data smashed together into a token. That includes heroic photography and a video as well through a partnership with SportRadar. We have all the metadata from the game. The box score … the context. Any everyday block might not be as memorable as when LeBron put someone on a poster." The collectible component is only one aspect of the game, which will include opportunities to showcase collections, get new tokens by completing in-app challenges and a challenge feature where players can use their team to engage in one-on-one games using the collective skills from the roster of NBA stars that a user has collected. The first iteration is 2019 to 2020 moments of the season, but Dapper Labs expects to reach back into the archive to use historical all-stars. The tokens will be sold in packs that range in price from $9 to the mid-$200 range, according to Tedman. The game will also include a peer-to-peer marketplace for trading the tokens. "These digital moments are much closer to physical trading card collecting as opposed to an in-app purchase… they have that same feeling," said Tedman. || Blockchain Bites: Google Validates Theta, Coinbase and BitGo Eye Crypto Prime Brokerage: Base-Layer TechGoogle isteaming up with Theta Labsto help the video delivery network onboard users through Google Cloud. As part of the partnership, the tech giant is assisting Theta with its Mainnet 2.0 launch, and will become the platform’s fifth validator.Polkadot is now livefollowing the mining of its first “chain candidate’s” genesis block. Polkadot will first launch under a Proof-of-Authority (PoA) consensus algorithm controlled by the Web3 Foundation, in its bid to become an interoperable blockchain for other chains and dapps to utilize.
Prime BrokerageSan Francisco-based cryptocurrency exchangeCoinbase is finally acquiring Tagomi,a prime brokerage platform specializing in digital asset trading. In an all-stock deal, Tagomi will integrate into Coinbase’s product suite, helping the firm complete its liquidity, custody, lending offerings. BitGo, a crypto custodian, has also announced its prime brokerage status, with thelaunch of its new entity BitGo Prime.Earlier this year, London-basedBequant launched a prime brokerage service,while Genesis Trading (owned by CoinDesk parent DCG) recentlypurchased crypto custodian Vo1tin a bid to become a prime broker.
Financial InnovationBrazilian retailerVia Varejo has purchased the Boston-based fintech startup Airfoxto provide financial services for underbanked Brazilians. The firm, with more than 1,000 locations in the country, plans to begin offering free bank accounts and gradually expand into other financial services, with Airfox serving as an innovation hub. Meanwhile, a senior figure at theInternational Monetary Fund said a digital currency backed by a central bank, but issued through private entities, would open the door to much greater innovationin retail payments. “This public-private partnership is intended to conserve the competitive advantages of the private sector: to interface with clients and innovate, and the comparative advantage of the central bank: to regulate and provide trust,” IMF’s Tommaso Mancini-Griffoli said.
Related:Genesis Hires Ex-Galaxy Digital Staffer to Run New Derivatives Trading Desk
ExpansionsTradeLens has been tapped by India’s largest port operator todigitize shipping supply chainsacross the nation. Crypto.com will expand its Visa crypto debit card and a wallet app to 31 European countries with a partnership with digital-payments company i2c Inc. (PYMNTS)
Open AccountsKingdom Trust has rolled out a singleretirement account for traditional and digital assetscalled Choice. The self-service retirement platform allows investors to hold stocks, exchange-traded funds (ETFs) and digital assets in one tax-advantaged account. Bitfury launched an investment opportunity offering “exposure to bitcoinby way of the mining company’s data center” for institutional investors, The Block reports.
Real and Virtual WorldsSwitzerland’s government has rejected a $103 million coronavirus-related bailout for “Crypto Valley.” The Swiss Blockchain Federation recently surveyed 203 firms in the area and found 80% on the brink of bankruptcy. (Bitcoin.com) Crypto startup Centrifuge is introducing a dapp that allows users to collateralize real-world assets for use in the decentralized finance ecosystem. (The Block) Land parcel auctions in the virtual Somnium Space have totaled $470,000 over the past 10 weeks. (Decrypt)
To See Libra’s Potential, Look at the Philippines, Not the USLeah Callon-Butler argues thatthe much derided Libra project could provide real utilityin countries where Facebook – one of the project’s leads – essentially is the internet. “Take the Philippines as an example. I’ve lived here since 2018 and it’s not hard to imagine how fast libra could become the preferred tender of Filipinos everywhere. To paint you a picture: While very few are banked – only 22.6 percent of adults have a formal account – the number of mobile phone subscriptions is greater than the number of actual people who live here,” she said.
Related:First Mover: Chainlink ‘Marines’ Are HODLing and Here’s Why You Should Care
Look to Design, Not Laws, to Protect Privacy in the Surveillance AgeRaullen Chai argues thatprivacy preserving measures should be built into a product,rather than ensured by law, if there is any hope to counter wanton surveillance. “Data privacy regulations have begun emerging in recent years, but these reactive measures simply cannot guarantee our privacy. We must proactively build and adopt new technologies with “privacy by design” to reach a human-centered future,” he said.
Macro MovementsThe yuan (CNY) fell to 7.1613 per U.S. dollar earlier on Tuesday to hit the lowest level since early September.Bitcoin has historically seen gains as the Chinese yuan falls.“If China’s CNY continues to weaken against USD, then we could have a 2015 and 2016 repeat, where BTC strength coincided with yuan weakness,” tweeted Chris Burniske, partner at venture capital firm Placeholder.
EOSOver the past year, theEOS token’s price is down 69%,the worst performance among digital assets with a market capitalization of at least $1 billion, based on Messari data. That’s more than twice the decline over that period in prices for EOS’s biggest rival, Ethereum. Bitcoin is flat over the past 12 months. Things could worsen for the cryptocurrency, as lingering concerns over its applicability and centralized structure have yet to be adequately addressed, according to industry experts surveyed by CoinDesk’s First Mover team.
‘Narrative Violations’Bedrock Capital founder Geoff Lewis joins The Breakdown podcast to discuss how alternative ideas and narratives are challenging the media’s consensus-making function. These“narrative violations” are reshaping how people understand the world.
• Bitcoin News Roundup for May 27, 2020
• Google Signs On as Network Validator for Blockchain Video Network Theta || Blockchain Bites: Google Validates Theta, Coinbase and BitGo Eye Crypto Prime Brokerage: Top Shelf Base-Layer Tech Google is teaming up with Theta Labs to help the video delivery network onboard users through Google Cloud. As part of the partnership, the tech giant is assisting Theta with its Mainnet 2.0 launch, and will become the platform’s fifth validator. Polkadot is now live following the mining of its first “chain candidate’s” genesis block. Polkadot will first launch under a Proof-of-Authority (PoA) consensus algorithm controlled by the Web3 Foundation, in its bid to become an interoperable blockchain for other chains and dapps to utilize. Prime Brokerage San Francisco-based cryptocurrency exchange Coinbase is finally acquiring Tagomi, a prime brokerage platform specializing in digital asset trading. In an all-stock deal, Tagomi will integrate into Coinbase’s product suite, helping the firm complete its liquidity, custody, lending offerings. BitGo, a crypto custodian, has also announced its prime brokerage status, with the launch of its new entity BitGo Prime. Earlier this year, London-based Bequant launched a prime brokerage service, while Genesis Trading (owned by CoinDesk parent DCG) recently purchased crypto custodian Vo1t in a bid to become a prime broker. Financial Innovation Brazilian retailer Via Varejo has purchased the Boston-based fintech startup Airfox to provide financial services for underbanked Brazilians. The firm, with more than 1,000 locations in the country, plans to begin offering free bank accounts and gradually expand into other financial services, with Airfox serving as an innovation hub. Meanwhile, a senior figure at the International Monetary Fund said a digital currency backed by a central bank, but issued through private entities, would open the door to much greater innovation in retail payments. “This public-private partnership is intended to conserve the competitive advantages of the private sector: to interface with clients and innovate, and the comparative advantage of the central bank: to regulate and provide trust,” IMF’s Tommaso Mancini-Griffoli said. Related: Genesis Hires Ex-Galaxy Digital Staffer to Run New Derivatives Trading Desk Expansions TradeLens has been tapped by India’s largest port operator to digitize shipping supply chains across the nation. Crypto.com will expand its Visa crypto debit card and a wallet app to 31 European countries with a partnership with digital-payments company i2c Inc. ( PYMNTS ) Open Accounts Kingdom Trust has rolled out a single retirement account for traditional and digital assets called Choice. The self-service retirement platform allows investors to hold stocks, exchange-traded funds (ETFs) and digital assets in one tax-advantaged account. Bitfury launched an investment opportunity offering “ exposure to bitcoin by way of the mining company’s data center” for institutional investors, The Block reports. Story continues Real and Virtual Worlds Switzerland’s government has rejected a $103 million coronavirus-related bailout for “Crypto Valley.” The Swiss Blockchain Federation recently surveyed 203 firms in the area and found 80% on the brink of bankruptcy. ( Bitcoin.com ) Crypto startup Centrifuge is introducing a dapp that allows users to collateralize real-world assets for use in the decentralized finance ecosystem. ( The Block ) Land parcel auctions in the virtual Somnium Space have totaled $470,000 over the past 10 weeks. ( Decrypt ) Opposite Editorial To See Libra’s Potential, Look at the Philippines, Not the US Leah Callon-Butler argues that the much derided Libra project could provide real utility in countries where Facebook – one of the project’s leads – essentially is the internet. “Take the Philippines as an example. I’ve lived here since 2018 and it’s not hard to imagine how fast libra could become the preferred tender of Filipinos everywhere. To paint you a picture: While very few are banked – only 22.6 percent of adults have a formal account – the number of mobile phone subscriptions is greater than the number of actual people who live here,” she said. Related: First Mover: Chainlink ‘Marines’ Are HODLing and Here’s Why You Should Care Look to Design, Not Laws, to Protect Privacy in the Surveillance Age Raullen Chai argues that privacy preserving measures should be built into a product, rather than ensured by law, if there is any hope to counter wanton surveillance. “Data privacy regulations have begun emerging in recent years, but these reactive measures simply cannot guarantee our privacy. We must proactively build and adopt new technologies with “privacy by design” to reach a human-centered future,” he said. Market Intel Macro Movements The yuan (CNY) fell to 7.1613 per U.S. dollar earlier on Tuesday to hit the lowest level since early September. Bitcoin has historically seen gains as the Chinese yuan falls. “If China’s CNY continues to weaken against USD, then we could have a 2015 and 2016 repeat, where BTC strength coincided with yuan weakness,” tweeted Chris Burniske, partner at venture capital firm Placeholder. EOS Over the past year, the EOS token’s price is down 69%, the worst performance among digital assets with a market capitalization of at least $1 billion, based on Messari data. That’s more than twice the decline over that period in prices for EOS’s biggest rival, Ethereum. Bitcoin is flat over the past 12 months. Things could worsen for the cryptocurrency, as lingering concerns over its applicability and centralized structure have yet to be adequately addressed, according to industry experts surveyed by CoinDesk’s First Mover team. CoinDesk Podcast Network ‘Narrative Violations’ Bedrock Capital founder Geoff Lewis joins The Breakdown podcast to discuss how alternative ideas and narratives are challenging the media’s consensus-making function. These “narrative violations” are reshaping how people understand the world. Who Won #CryptoTwitter? Related Stories Bitcoin News Roundup for May 27, 2020 Google Signs On as Network Validator for Blockchain Video Network Theta View comments || Will Bitcoin reach $100,000 within the next two years?: The recent Bitcoin halving caused a number of investors to return to old habits, with intense and rampant speculation beginning to circulate across social media, which prompted some to call for a $100,000 price prediction within the next two years. And while this is most certainly a possibility, it is important to remain grounded and understand that the market is far different to how it was in 2017 when Bitcoin surged to its all-time high of $20,000. Two years ago the entire cryptocurrency market was driven by two things, first of all the ICO boom that saw companies raise hundreds of millions on the back of poorly written whitepapers, and secondly the influx of hype-driven investors who believed they could get rich quick by following the trend. ICO bubble has burst In 2017 investors could throw a dart at a board of random ICO projects and make money, not because the companies were actually worth anything but because people wanted to find the next Ethereum or next Bitcoin. As a result of this, the bear market that followed was painful as the majority of projects that raised capital in ICOs lost more than 98% of value in the next year, with investors taking the brunt of the pain. Early last year Coin Rivet interviewed the CEO of Pillar Project , David Siegel, whose company raised $20 million during the height of the ICO boom in 2017. 1/ Its now obvious that ICOs were a massive bubble that's unlikely to ever see a recovery. The median ICO return in terms of USD is -87% and constantly dropping. Let's look at some data! pic.twitter.com/zmCXVPjup6 Larry Cermak (@lawmaster) August 7, 2019 Siegel explained the complexities of operating a company during a bear market, which was made even more difficult by aggrieved investors pleading with make an announcement to drive price to the upside. Story continues This was, of course, completely unsustainable and now more than two years later we are finally seeing companies that are based on thin air fall from significance. How does this relate to Bitcoin? One of the main reasons why Bitcoin rose so rapidly in 2017 was because investors made substantial profits on altcoins, and as the market was immature was limited trading pairs they would then sell their coin directly for Bitcoin, thus causing an increase in price. The ICO boom also lured the get rich quick type of investor into the market. These investors can be categorised as people who work regular nine to five jobs but have no idea how to trade, they just want to make some money on the side with limited time or resources. With the vast majority of these investors actually making huge losses during the 2018 bear market, public trust and interest in cryptocurrencies is far lower than it was more than two years ago. This can be seen clearly when looking at Google searches for Bitcoin, which intriguingly follows the price action of Bitcoins chart. In 2017 there were millions, maybe even billions, of people searching for Bitcoin. Now we are at a point where the amount of searches for Bitcoin is 87% lower than what it was in December 2017. And until there is another influx of investors that believe they can get rich quick, which will then lead to a hike in searches and interest, Bitcoin will struggle to break above its previous all-time high of $20,000, let alone $100,000. There are models that negate this theory, the most renowned of which being the stock to flow model that factors in the recent halving and assumed lack of new supply, but its undeniable that in order to reach 2017 levels cryptocurrency needs a catalyst far greater than statistical analysis, it needs to reinvent its image on a wider public scale. For more news, guides and cryptocurrency analysis, click here . Disclaimer: This is not financial advice. || Will Bitcoin reach $100,000 within the next two years?: The recent Bitcoin halving caused a number of investors to return to old habits, with intense and rampant speculation beginning to circulate across social media, which prompted some to call for a $100,000 price prediction within the next two years. And while this is most certainly a possibility, it is important to remain grounded and understand that the market is far different to how it was in 2017 when Bitcoin surged to its all-time high of $20,000. Two years ago the entire cryptocurrency market was driven by two things, first of all the ICO boom that saw companies raise hundreds of millions on the back of poorly written whitepapers, and secondly the influx of hype-driven investors who believed they could get rich quick by following the trend. ICO bubble has burst In 2017 investors could throw a dart at a board of random ICO projects and make money, not because the companies were actually worth anything but because people wanted to find the next Ethereum or next Bitcoin. As a result of this, the bear market that followed was painful as the majority of projects that raised capital in ICOs lost more than 98% of value in the next year, with investors taking the brunt of the pain. Early last year Coin Rivet interviewed the CEO of Pillar Project , David Siegel, whose company raised $20 million during the height of the ICO boom in 2017. 1/ Its now obvious that ICOs were a massive bubble that's unlikely to ever see a recovery. The median ICO return in terms of USD is -87% and constantly dropping. Let's look at some data! pic.twitter.com/zmCXVPjup6 Larry Cermak (@lawmaster) August 7, 2019 Siegel explained the complexities of operating a company during a bear market, which was made even more difficult by aggrieved investors pleading with make an announcement to drive price to the upside. Story continues This was, of course, completely unsustainable and now more than two years later we are finally seeing companies that are based on thin air fall from significance. How does this relate to Bitcoin? One of the main reasons why Bitcoin rose so rapidly in 2017 was because investors made substantial profits on altcoins, and as the market was immature was limited trading pairs they would then sell their coin directly for Bitcoin, thus causing an increase in price. The ICO boom also lured the get rich quick type of investor into the market. These investors can be categorised as people who work regular nine to five jobs but have no idea how to trade, they just want to make some money on the side with limited time or resources. With the vast majority of these investors actually making huge losses during the 2018 bear market, public trust and interest in cryptocurrencies is far lower than it was more than two years ago. This can be seen clearly when looking at Google searches for Bitcoin, which intriguingly follows the price action of Bitcoins chart. In 2017 there were millions, maybe even billions, of people searching for Bitcoin. Now we are at a point where the amount of searches for Bitcoin is 87% lower than what it was in December 2017. And until there is another influx of investors that believe they can get rich quick, which will then lead to a hike in searches and interest, Bitcoin will struggle to break above its previous all-time high of $20,000, let alone $100,000. There are models that negate this theory, the most renowned of which being the stock to flow model that factors in the recent halving and assumed lack of new supply, but its undeniable that in order to reach 2017 levels cryptocurrency needs a catalyst far greater than statistical analysis, it needs to reinvent its image on a wider public scale. For more news, guides and cryptocurrency analysis, click here . Disclaimer: This is not financial advice. || Will Bitcoin reach $100,000 within the next two years?: The recent Bitcoin halving caused a number of investors to return to old habits, with intense and rampant speculation beginning to circulate across social media, which prompted some to call for a $100,000 price prediction within the next two years. And while this is most certainly a possibility, it is important to remain grounded and understand that the market is far different to how it was in 2017 when Bitcoin surged to its all-time high of $20,000. Two years ago the entire cryptocurrency market was driven by two things, first of all the ICO boom that saw companies raise hundreds of millions on the back of poorly written whitepapers, and secondly the influx of hype-driven investors who believed they could get rich quick by following the trend. ICO bubble has burst In 2017 investors could throw a dart at a board of random ICO projects and make money, not because the companies were actually worth anything but because people wanted to find the next Ethereum or next Bitcoin. As a result of this, the bear market that followed was painful as the majority of projects that raised capital in ICOs lost more than 98% of value in the next year, with investors taking the brunt of the pain. Early last year Coin Rivet interviewed the CEO of Pillar Project , David Siegel, whose company raised $20 million during the height of the ICO boom in 2017. 1/ Its now obvious that ICOs were a massive bubble that's unlikely to ever see a recovery. The median ICO return in terms of USD is -87% and constantly dropping. Let's look at some data! pic.twitter.com/zmCXVPjup6 Larry Cermak (@lawmaster) August 7, 2019 Siegel explained the complexities of operating a company during a bear market, which was made even more difficult by aggrieved investors pleading with make an announcement to drive price to the upside. Story continues This was, of course, completely unsustainable and now more than two years later we are finally seeing companies that are based on thin air fall from significance. How does this relate to Bitcoin? One of the main reasons why Bitcoin rose so rapidly in 2017 was because investors made substantial profits on altcoins, and as the market was immature was limited trading pairs they would then sell their coin directly for Bitcoin, thus causing an increase in price. The ICO boom also lured the get rich quick type of investor into the market. These investors can be categorised as people who work regular nine to five jobs but have no idea how to trade, they just want to make some money on the side with limited time or resources. With the vast majority of these investors actually making huge losses during the 2018 bear market, public trust and interest in cryptocurrencies is far lower than it was more than two years ago. This can be seen clearly when looking at Google searches for Bitcoin, which intriguingly follows the price action of Bitcoins chart. In 2017 there were millions, maybe even billions, of people searching for Bitcoin. Now we are at a point where the amount of searches for Bitcoin is 87% lower than what it was in December 2017. And until there is another influx of investors that believe they can get rich quick, which will then lead to a hike in searches and interest, Bitcoin will struggle to break above its previous all-time high of $20,000, let alone $100,000. There are models that negate this theory, the most renowned of which being the stock to flow model that factors in the recent halving and assumed lack of new supply, but its undeniable that in order to reach 2017 levels cryptocurrency needs a catalyst far greater than statistical analysis, it needs to reinvent its image on a wider public scale. For more news, guides and cryptocurrency analysis, click here . Disclaimer: This is not financial advice. || Ren’s new network bridges Ethereum with Bitcoin, Bitcoin Cash, and Zcash: Ren, a company developing a protocol for private transactions between blockchains, has launched its core product: a network aimed at connecting the Ethereum blockchain to other popular chains.
The new network, called RenVM, will start off by connecting Bitcoin, Bitcoin Cash and Zcash to Ethereum. The company says this will be a boost for decentralized finance (DeFi). “By removing liquidity silos that have long hindered DeFi’s growth potential, RenVM will serve as a robust and permissionless tool for all of DeFi to utilize,” it said in a statement.
Essentially, RenVM takes custody of users’ non-Ethereum assets and then mints corresponding ERC-20 tokens for those assets. The first three — called renBTC, renBCH and renZEC — are now live on the Ethereum network.
DeFi projects can use RenVM as a plug-in and add it to their existing smart contracts. This creates an interface on their own applications for users to deposit and withdraw renBTC, renBCH and renZEC. Ren says the protocol differs from similar projects like WBTC and imBTC since it does not rely on a centralized custodian.
In 2018, the project raised 35,000 ether (approximately $30.5 million at the time) in an initial coin offering. Big names including Polychain Capital, FBG and Huobi Capital participated in the round.
In a statement, Ren CTO and co-founder Loong Wang said the team also wants to support other assets, including stablecoins like Libra and China’s digital yuan.
© 2020 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice. || Ren’s new network bridges Ethereum with Bitcoin, Bitcoin Cash, and Zcash: Ren, a company developing a protocol for private transactions between blockchains, has launched its core product: a network aimed at connecting the Ethereum blockchain to other popular chains. The new network, called RenVM, will start off by connecting Bitcoin, Bitcoin Cash and Zcash to Ethereum. The company says this will be a boost for decentralized finance (DeFi). “By removing liquidity silos that have long hindered DeFi’s growth potential, RenVM will serve as a robust and permissionless tool for all of DeFi to utilize,” it said in a statement. Essentially, RenVM takes custody of users’ non-Ethereum assets and then mints corresponding ERC-20 tokens for those assets. The first three — called renBTC, renBCH and renZEC — are now live on the Ethereum network. DeFi projects can use RenVM as a plug-in and add it to their existing smart contracts. This creates an interface on their own applications for users to deposit and withdraw renBTC, renBCH and renZEC. Ren says the protocol differs from similar projects like WBTC and imBTC since it does not rely on a centralized custodian. In 2018, the project raised 35,000 ether (approximately $30.5 million at the time) in an initial coin offering. Big names including Polychain Capital, FBG and Huobi Capital participated in the round. In a statement, Ren CTO and co-founder Loong Wang said the team also wants to support other assets, including stablecoins like Libra and China’s digital yuan. © 2020 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice. || Ren’s new network bridges Ethereum with Bitcoin, Bitcoin Cash, and Zcash: Ren, a company developing a protocol for private transactions between blockchains, has launched its core product: a network aimed at connecting the Ethereum blockchain to other popular chains.
The new network, called RenVM, will start off by connecting Bitcoin, Bitcoin Cash and Zcash to Ethereum. The company says this will be a boost for decentralized finance (DeFi). “By removing liquidity silos that have long hindered DeFi’s growth potential, RenVM will serve as a robust and permissionless tool for all of DeFi to utilize,” it said in a statement.
Essentially, RenVM takes custody of users’ non-Ethereum assets and then mints corresponding ERC-20 tokens for those assets. The first three — called renBTC, renBCH and renZEC — are now live on the Ethereum network.
DeFi projects can use RenVM as a plug-in and add it to their existing smart contracts. This creates an interface on their own applications for users to deposit and withdraw renBTC, renBCH and renZEC. Ren says the protocol differs from similar projects like WBTC and imBTC since it does not rely on a centralized custodian.
In 2018, the project raised 35,000 ether (approximately $30.5 million at the time) in an initial coin offering. Big names including Polychain Capital, FBG and Huobi Capital participated in the round.
In a statement, Ren CTO and co-founder Loong Wang said the team also wants to support other assets, including stablecoins like Libra and China’s digital yuan.
© 2020 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice. || Number of Bitcoins on Crypto Exchanges Hits 18-Month Low: The total number ofbitcoinsheld in cryptocurrency exchanges wallets dropped to an 18-month low just above 2.3 million on Monday, according to data estimates fromGlassnode. The decline marks an 11% year-to-date reduction in the number of bitcoins held by exchanges.
Meanwhile, over the same period, the amount ofetherin exchange wallets increased by more than 7%. Some market participants see this as a sign that more bitcoin investors are increasingly taking direct possession of their cryptocurrency.
“People are accumulating aggressively, and the market participants seem to have a higher time preference these days,” said Avi Felman, head of trading at Stamford, Conn.-based BlockTower Capital. “I think the trend is going to continue.”
Related:Market Wrap: Bullish Traders Push Bitcoin Over $9,100, Returning to Halving Levels
A portion of these active and often ideologically motivated bitcoin accumulators are called “holders of last resort,” a label implying they never intend to sell regardless of market movements.
This type of investor partially contributes to the decline in exchange bitcoin balances by continuing to “accumulate for the long term and self-custody their bitcoins,” said Pierre Rochard, bitcoin strategist at Kraken, the largest U.S.-based cryptocurrency exchange by liquidity according toCryptowatch.
Speaking with CoinDesk, Rochard added that “improvements in fiat rails” also materially contribute to this trend by enabling arbitrage traders to “be more capital efficient and thus hold fewer bitcoin.”
Read more:Crypto Custodian BitGo Joins Race to Provide Prime Brokerage Services
Related:Goldman Sachs: Cryptocurrencies ‘Are Not an Asset Class’
It’s important to note that on-chain data analysis of exchange balances is only an estimate given that some exchange addresses may be overlooked by or unknown to data aggregators. The downward-sloped trend, however, is nonetheless pronounced.
“On-chain data is not perfect and new exchange wallets may be missed,” added Rochard.
Others see bitcoins leaving exchanges for a reason completely unrelated to strong-willed, die-hard investors, however: the rise of prime brokers.
Felman added that currently “there are few alternatives to holding bitcoins on an exchange if you want to trade, but new offerings in the prime brokerage space will lead to greater outflows from exchange-specific wallets.”
On Thursday, for example, trading and lending firm Genesis (like CoinDesk, owned by DCG)acquiredVo1t as part of its strategy to become a full-service prime brokerage. Tagomi, a digital asset prime brokerage, was also recentlyacquiredby Coinbase in the San Francisco-based exchange’s bid to expand its institutional trading service.
Read more:Coinbase Buys Tagomi as ‘Foundation’ of Institutional Trading Arm
Regardless of the reason, a “consistent decline in the supply of bitcoin on exchanges implies a strong level of confidence from the holder base,” said Yan Liberman, former associate at Deutsche Bank and co-founder of digital asset research firm Delphi Digital.
Roughly 60% of the issued bitcoin supply hasn’t moved in over 12 months, added Liberman, and that has been a precursor to previous bullish market cycles.
• Bitcoin Transaction Fees Decline as Network Congestion Eases
• Bitcoin News Roundup for May 27, 2020 || Number of Bitcoins on Crypto Exchanges Hits 18-Month Low: The total number ofbitcoinsheld in cryptocurrency exchanges wallets dropped to an 18-month low just above 2.3 million on Monday, according to data estimates fromGlassnode. The decline marks an 11% year-to-date reduction in the number of bitcoins held by exchanges.
Meanwhile, over the same period, the amount ofetherin exchange wallets increased by more than 7%. Some market participants see this as a sign that more bitcoin investors are increasingly taking direct possession of their cryptocurrency.
“People are accumulating aggressively, and the market participants seem to have a higher time preference these days,” said Avi Felman, head of trading at Stamford, Conn.-based BlockTower Capital. “I think the trend is going to continue.”
Related:Market Wrap: Bullish Traders Push Bitcoin Over $9,100, Returning to Halving Levels
A portion of these active and often ideologically motivated bitcoin accumulators are called “holders of last resort,” a label implying they never intend to sell regardless of market movements.
This type of investor partially contributes to the decline in exchange bitcoin balances by continuing to “accumulate for the long term and self-custody their bitcoins,” said Pierre Rochard, bitcoin strategist at Kraken, the largest U.S.-based cryptocurrency exchange by liquidity according toCryptowatch.
Speaking with CoinDesk, Rochard added that “improvements in fiat rails” also materially contribute to this trend by enabling arbitrage traders to “be more capital efficient and thus hold fewer bitcoin.”
Read more:Crypto Custodian BitGo Joins Race to Provide Prime Brokerage Services
Related:Goldman Sachs: Cryptocurrencies ‘Are Not an Asset Class’
It’s important to note that on-chain data analysis of exchange balances is only an estimate given that some exchange addresses may be overlooked by or unknown to data aggregators. The downward-sloped trend, however, is nonetheless pronounced.
“On-chain data is not perfect and new exchange wallets may be missed,” added Rochard.
Others see bitcoins leaving exchanges for a reason completely unrelated to strong-willed, die-hard investors, however: the rise of prime brokers.
Felman added that currently “there are few alternatives to holding bitcoins on an exchange if you want to trade, but new offerings in the prime brokerage space will lead to greater outflows from exchange-specific wallets.”
On Thursday, for example, trading and lending firm Genesis (like CoinDesk, owned by DCG)acquiredVo1t as part of its strategy to become a full-service prime brokerage. Tagomi, a digital asset prime brokerage, was also recentlyacquiredby Coinbase in the San Francisco-based exchange’s bid to expand its institutional trading service.
Read more:Coinbase Buys Tagomi as ‘Foundation’ of Institutional Trading Arm
Regardless of the reason, a “consistent decline in the supply of bitcoin on exchanges implies a strong level of confidence from the holder base,” said Yan Liberman, former associate at Deutsche Bank and co-founder of digital asset research firm Delphi Digital.
Roughly 60% of the issued bitcoin supply hasn’t moved in over 12 months, added Liberman, and that has been a precursor to previous bullish market cycles.
• Bitcoin Transaction Fees Decline as Network Congestion Eases
• Bitcoin News Roundup for May 27, 2020 || Number of Bitcoins on Crypto Exchanges Hits 18-Month Low: The total number of bitcoins held in cryptocurrency exchanges wallets dropped to an 18-month low just above 2.3 million on Monday, according to data estimates from Glassnode . The decline marks an 11% year-to-date reduction in the number of bitcoins held by exchanges. Meanwhile, over the same period, the amount of ether in exchange wallets increased by more than 7%. Some market participants see this as a sign that more bitcoin investors are increasingly taking direct possession of their cryptocurrency. “People are accumulating aggressively, and the market participants seem to have a higher time preference these days,” said Avi Felman, head of trading at Stamford, Conn.-based BlockTower Capital. “I think the trend is going to continue.” Related: Market Wrap: Bullish Traders Push Bitcoin Over $9,100, Returning to Halving Levels A portion of these active and often ideologically motivated bitcoin accumulators are called “holders of last resort,” a label implying they never intend to sell regardless of market movements. This type of investor partially contributes to the decline in exchange bitcoin balances by continuing to “accumulate for the long term and self-custody their bitcoins,” said Pierre Rochard, bitcoin strategist at Kraken, the largest U.S.-based cryptocurrency exchange by liquidity according to Cryptowatch . Speaking with CoinDesk, Rochard added that “improvements in fiat rails” also materially contribute to this trend by enabling arbitrage traders to “be more capital efficient and thus hold fewer bitcoin.” Read more: Crypto Custodian BitGo Joins Race to Provide Prime Brokerage Services Related: Goldman Sachs: Cryptocurrencies ‘Are Not an Asset Class’ It’s important to note that on-chain data analysis of exchange balances is only an estimate given that some exchange addresses may be overlooked by or unknown to data aggregators. The downward-sloped trend, however, is nonetheless pronounced. “On-chain data is not perfect and new exchange wallets may be missed,” added Rochard. Others see bitcoins leaving exchanges for a reason completely unrelated to strong-willed, die-hard investors, however: the rise of prime brokers. Felman added that currently “there are few alternatives to holding bitcoins on an exchange if you want to trade, but new offerings in the prime brokerage space will lead to greater outflows from exchange-specific wallets.” On Thursday, for example, trading and lending firm Genesis (like CoinDesk, owned by DCG) acquired Vo1t as part of its strategy to become a full-service prime brokerage. Tagomi, a digital asset prime brokerage, was also recently acquired by Coinbase in the San Francisco-based exchange’s bid to expand its institutional trading service. Story continues Read more: Coinbase Buys Tagomi as ‘Foundation’ of Institutional Trading Arm Regardless of the reason, a “consistent decline in the supply of bitcoin on exchanges implies a strong level of confidence from the holder base,” said Yan Liberman, former associate at Deutsche Bank and co-founder of digital asset research firm Delphi Digital. Roughly 60% of the issued bitcoin supply hasn’t moved in over 12 months, added Liberman, and that has been a precursor to previous bullish market cycles. Related Stories Bitcoin Transaction Fees Decline as Network Congestion Eases Bitcoin News Roundup for May 27, 2020 View comments
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None available.
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9439.12, 9700.41, 9461.06, 10167.27, 9529.80, 9656.72, 9800.64, 9665.53, 9653.68, 9758.85
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Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 3857.30, 3654.83, 3923.92, 3820.41, 3865.95, 3742.70, 3843.52, 3943.41, 3836.74, 3857.72, 3845.19, 4076.63, 4025.25, 4030.85, 4035.30, 3678.92, 3687.37, 3661.30, 3552.95, 3706.05, 3630.68, 3655.01, 3678.56, 3657.84, 3728.57, 3601.01, 3576.03, 3604.58, 3585.12, 3600.87, 3599.77, 3602.46, 3583.97, 3470.45, 3448.12, 3486.18, 3457.79, 3487.95, 3521.06, 3464.01, 3459.15, 3466.36, 3413.77, 3399.47, 3666.78, 3671.20, 3690.19, 3648.43, 3653.53, 3632.07, 3616.88, 3620.81, 3629.79, 3673.84, 3915.71, 3947.09, 3999.82, 3954.12, 4005.53, 4142.53, 3810.43, 3882.70, 3854.36, 3851.05, 3854.79, 3859.58, 3864.42, 3847.18, 3761.56, 3896.38, 3903.94, 3911.48, 3901.13, 3963.31, 3951.60, 3905.23, 3909.16, 3906.72, 3924.37, 3960.91, 4048.73, 4025.23, 4032.51, 4071.19, 4087.48, 4029.33, 4023.97, 4035.83, 4022.17, 3963.07.
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[Bitcoin Technical Analysis for 2019-03-25]
Volume: 10359818883, RSI (14-day): 51.21, 50-day EMA: 3901.72, 200-day EMA: 4695.52
[Wider Market Context]
Gold Price: 1321.90, Gold RSI: 60.01
Oil Price: 58.82, Oil RSI: 60.80
[Recent News (last 7 days)]
The Mueller Report: Trump Survives to Fight another Day: It’s been a long time coming, but after a lengthy investigation into the U.S administration’s presidential campaign, Trump lives to fight another day. Special Counsel Robert Mueller investigated the U.S administration for what felt like years. The markets even gave up on the report. A lack of an interview with the U.S president throughout the investigation did raise some eyebrows, however. “No Collusion, No Obstruction, Complete and Total Exoneration. Keep America Great!” was President Trump’s Tweet to the news. One does wonder whether there were any hot under the collar moments. After all, the investigation didn’t come without its victims… Who Went Down The investigation led to Robert Mueller handing out jail sentences like hot dinners… Top of the food tree was a jail sentence for Trump’s campaign chairman Paul Manafort. Others who pled guilty, included Michael Cohen, Michael Flynn, George Papadopoulos, Richard Pinedo, Alex van der Zwaan, and Rick Gates. The nature of the criminal findings will no doubt question the validity of Mueller’s findings. Trump and the administration will be delighted, however, and rightly so. Too many people went to jail and an even larger number were charged by the special counsel. Not even one slip of the tongue. The final high profile case that remains is against Roger Stone. As a long-time Trump adviser, Mueller charged Stone with obstruction, lying to Congress and witness tampering. Well, the President didn’t get his hands dirty, but his team certainly did. The Aftershock Needless to say, the Democrats were less than amused. As is the case in any criminal investigation, beyond a reasonable doubt is the line that needs to be crossed. A lack of evidence was attributed to the Mueller report conclusions. Interestingly, Rudy Giuliani said that the report was better than he had expected… Almost 2-years of investigations and 2,800 subpoenas, not to mention the man hours, search warrants and interviews, delivered zip. Story continues 2020 The showdown between Trump and Bernie Sanders is now on for 2020. Hillary Clinton managed to scupper Sanders’ chances last time around and, while Oprah Winfrey is in the fray this time around, the Democrat’s chances are looking slim… Too many candidates will be in favor of a 2nd republican term unless Trump tanks the U.S economy with his trade war. Not completely implausible considering the recent spate of disappointing stats out of the U.S and the FED’s shift on monetary policy. For now, geopolitical risk is off the table, on Capitol Hill at least. Onwards and upwards. At the time of writing the future markets were in the green, though it remains to be seen whether they can hold on… This article was originally posted on FX Empire More From FXEMPIRE: Price of Gold Fundamental Weekly Forecast – Underpinned by Dovish Fed but Gains Limited by Safe-Haven Demand for Dollar The Weekly Wrap – Brexit, the FED and Economic Data Drove the Majors Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 24/03/19 Natural Gas Price Fundamental Weekly Forecast – Will Traders Defend the Range, or Continue to Exert Downside Pressure? The Week Ahead – Brexit, Trade Talks, the Mueller Report and Stats in Focus Study Shows Majority of Bitcoin Trading is Fairy Dust || The Mueller Report: Trump Survives to Fight another Day: It’s been a long time coming, but after a lengthy investigation into the U.S administration’s presidential campaign, Trump lives to fight another day. Special Counsel Robert Mueller investigated the U.S administration for what felt like years. The markets even gave up on the report. A lack of an interview with the U.S president throughout the investigation did raise some eyebrows, however. “No Collusion, No Obstruction, Complete and Total Exoneration. Keep America Great!” was President Trump’s Tweet to the news. One does wonder whether there were any hot under the collar moments. After all, the investigation didn’t come without its victims… Who Went Down The investigation led to Robert Mueller handing out jail sentences like hot dinners… Top of the food tree was a jail sentence for Trump’s campaign chairman Paul Manafort. Others who pled guilty, included Michael Cohen, Michael Flynn, George Papadopoulos, Richard Pinedo, Alex van der Zwaan, and Rick Gates. The nature of the criminal findings will no doubt question the validity of Mueller’s findings. Trump and the administration will be delighted, however, and rightly so. Too many people went to jail and an even larger number were charged by the special counsel. Not even one slip of the tongue. The final high profile case that remains is against Roger Stone. As a long-time Trump adviser, Mueller charged Stone with obstruction, lying to Congress and witness tampering. Well, the President didn’t get his hands dirty, but his team certainly did. The Aftershock Needless to say, the Democrats were less than amused. As is the case in any criminal investigation, beyond a reasonable doubt is the line that needs to be crossed. A lack of evidence was attributed to the Mueller report conclusions. Interestingly, Rudy Giuliani said that the report was better than he had expected… Almost 2-years of investigations and 2,800 subpoenas, not to mention the man hours, search warrants and interviews, delivered zip. Story continues 2020 The showdown between Trump and Bernie Sanders is now on for 2020. Hillary Clinton managed to scupper Sanders’ chances last time around and, while Oprah Winfrey is in the fray this time around, the Democrat’s chances are looking slim… Too many candidates will be in favor of a 2nd republican term unless Trump tanks the U.S economy with his trade war. Not completely implausible considering the recent spate of disappointing stats out of the U.S and the FED’s shift on monetary policy. For now, geopolitical risk is off the table, on Capitol Hill at least. Onwards and upwards. At the time of writing the future markets were in the green, though it remains to be seen whether they can hold on… This article was originally posted on FX Empire More From FXEMPIRE: Price of Gold Fundamental Weekly Forecast – Underpinned by Dovish Fed but Gains Limited by Safe-Haven Demand for Dollar The Weekly Wrap – Brexit, the FED and Economic Data Drove the Majors Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 24/03/19 Natural Gas Price Fundamental Weekly Forecast – Will Traders Defend the Range, or Continue to Exert Downside Pressure? The Week Ahead – Brexit, Trade Talks, the Mueller Report and Stats in Focus Study Shows Majority of Bitcoin Trading is Fairy Dust || Most of Bitcoin’s Trading Volume is FAKE: Time to Wake the F*** Up?: Hands up, anyone who is surprised that a little-known crypto exchange that apparently had the largest bitcoin trading volume on CoinMarketCap has been exposed as a wash trading scam platform. In the world of crypto where apparently everyone made it to Lamboland during the 2017 bull run, and absolutely everybody knew when to sell, no one will admit that they have been played. Since Bitwise published its investigation two days ago showing that at least 95 percent of all bitcoin trading volume is faked on unregulated exchanges, the standard refrain has been “Everyone already knew that.”
To admit otherwise would be to admit that one is a “noob” and possibly a “bagholder,” but the fact that platforms likeCoinBenecontinue to exist and perpetrate what should be a transparent scam is indicative of a deeper problem within crypto. For whatever reason, otherwise sensible and rational investors seem to have internalized the idea that crypto “does not operate on conventional rules” and as such, it is OK to ignore what their experience or good sense tells them.
In the case of CoinBene, which purportedly has the largest daily bitcoin trading volume on CoinMarketCap, the scam is transparent – fake a high trading volume, and attract ICO suckers who want to get their sh*tcoin listed on a high volume platform without going through the regulatory processes of say, Coinbase or Gemini. In return for helping them jump the queue, charge them as much as $3 million per listing, and smile to the bank as their sh*tcoin inevitably sinks and eventually turns into a deadcoin. It’s almost like a victimless crime.
Despite CoinBene clearly being a no-name platform compared to the likes of Binance or Kraken, some clearly fell victim to a story that should have been very easy to spot as “too good to be true.” This is unfortunately all too common in the world of crypto, where common sense and Economics are often overlooked out of an irrational sense of optimism.
At the height of the 2017 bull run, for instance, it was not uncommon to see ICO whitepapers promising “at least 500% profit upon listing.” Others guaranteed that token prices would spike as much as 2000 percent and stay there because the ICO promoters would buy back a large portion of the tokens and create artificial scarcity. Ridiculous as these promises look in hindsight, many such projects raised millions of dollars, effectively preying on the naivety of crypto investors.
Read the full story on CCN.com. || Most of Bitcoin’s Trading Volume is FAKE: Time to Wake the F*** Up?: Hands up, anyone who is surprised that a little-known crypto exchange that apparently had the largest bitcoin trading volume on CoinMarketCap has been exposed as a wash trading scam platform. In the world of crypto where apparently everyone made it to Lamboland during the 2017 bull run, and absolutely everybody knew when to sell, no one will admit that they have been played. Since Bitwise published its investigation two days ago showing that at least 95 percent of all bitcoin trading volume is faked on unregulated exchanges, the standard refrain has been “Everyone already knew that.”
To admit otherwise would be to admit that one is a “noob” and possibly a “bagholder,” but the fact that platforms likeCoinBenecontinue to exist and perpetrate what should be a transparent scam is indicative of a deeper problem within crypto. For whatever reason, otherwise sensible and rational investors seem to have internalized the idea that crypto “does not operate on conventional rules” and as such, it is OK to ignore what their experience or good sense tells them.
In the case of CoinBene, which purportedly has the largest daily bitcoin trading volume on CoinMarketCap, the scam is transparent – fake a high trading volume, and attract ICO suckers who want to get their sh*tcoin listed on a high volume platform without going through the regulatory processes of say, Coinbase or Gemini. In return for helping them jump the queue, charge them as much as $3 million per listing, and smile to the bank as their sh*tcoin inevitably sinks and eventually turns into a deadcoin. It’s almost like a victimless crime.
Despite CoinBene clearly being a no-name platform compared to the likes of Binance or Kraken, some clearly fell victim to a story that should have been very easy to spot as “too good to be true.” This is unfortunately all too common in the world of crypto, where common sense and Economics are often overlooked out of an irrational sense of optimism.
At the height of the 2017 bull run, for instance, it was not uncommon to see ICO whitepapers promising “at least 500% profit upon listing.” Others guaranteed that token prices would spike as much as 2000 percent and stay there because the ICO promoters would buy back a large portion of the tokens and create artificial scarcity. Ridiculous as these promises look in hindsight, many such projects raised millions of dollars, effectively preying on the naivety of crypto investors.
Read the full story on CCN.com. || Sluggish Bitcoin Price Creates Bullish Opportunities for Wider Crypto Market: Trader: Bitcoin's stagnancy has opened the door for alternative cryptocurrencies like Litecoin to shine. | Source: Shutterstock In the past 24 hours, the Bitcoin price has remained stable above the $4,020 mark, unable to break out above a key resistance level at $4,200. Meanwhile, a handful of crypto assets and tokens recorded gains in the range of 5 to 30 percent. bitcoin price The Bitcoin price continues to range-trade around the $4,000 mark. | Source: CoinMarketCap Polymath, the best performing crypto asset on the day, recorded a 31 percent gain against the U.S. dollar, with most of the volume coming from Upbit , a major cryptocurrency exchange in South Korea. As seen in the chart of Polymath below, most alternative cryptocurrencies and tokens remain down about 90 percent down from their all-time highs and are not near towards entering a proper accumulation phase. polymath cryptocurrency price Polymath, which declined 90 percent from its all-time high, is now trending back up. | Source: CoinMarketCap But, if Bitcoin continues to show a sideways price movement in the foreseeable future above the critical $4,000 mark, some traders see crypto tokens continuing to demonstrate substantial gains. Will Crypto Assets Outperform Bitcoin in the Coming Weeks? In recent months, several cryptocurrencies in the likes of Cardano, Litecoin, and Binance Coin, along with small tokens, have outperformed Bitcoin by large margins. Read the full story on CCN.com . || Sluggish Bitcoin Price Creates Bullish Opportunities for Wider Crypto Market: Trader: In the past 24 hours, the Bitcoin price has remained stable above the $4,020 mark, unable to break out above a key resistance level at $4,200. Meanwhile, a handful of crypto assets and tokens recorded gains in the range of 5 to 30 percent.
The Bitcoin price continues to range-trade around the $4,000 mark. | Source: CoinMarketCap
Polymath, the best performing crypto asset on the day, recorded a 31 percent gain against the U.S. dollar, with most of the volume coming fromUpbit, a major cryptocurrency exchange in South Korea.
As seen in the chart of Polymath below, most alternative cryptocurrencies and tokens remain down about 90 percent down from their all-time highs and are not near towards entering a proper accumulation phase.
Polymath, which declined 90 percent from its all-time high, is now trending back up. | Source: CoinMarketCap
But, if Bitcoin continues to show a sideways price movement in the foreseeable future above the critical $4,000 mark, some traders see crypto tokens continuing to demonstrate substantial gains.
In recent months, several cryptocurrencies in the likes of Cardano, Litecoin, and Binance Coin, along with small tokens, have outperformed Bitcoin by large margins.
Read the full story on CCN.com. || Sluggish Bitcoin Price Creates Bullish Opportunities for Wider Crypto Market: Trader: In the past 24 hours, the Bitcoin price has remained stable above the $4,020 mark, unable to break out above a key resistance level at $4,200. Meanwhile, a handful of crypto assets and tokens recorded gains in the range of 5 to 30 percent.
The Bitcoin price continues to range-trade around the $4,000 mark. | Source: CoinMarketCap
Polymath, the best performing crypto asset on the day, recorded a 31 percent gain against the U.S. dollar, with most of the volume coming fromUpbit, a major cryptocurrency exchange in South Korea.
As seen in the chart of Polymath below, most alternative cryptocurrencies and tokens remain down about 90 percent down from their all-time highs and are not near towards entering a proper accumulation phase.
Polymath, which declined 90 percent from its all-time high, is now trending back up. | Source: CoinMarketCap
But, if Bitcoin continues to show a sideways price movement in the foreseeable future above the critical $4,000 mark, some traders see crypto tokens continuing to demonstrate substantial gains.
In recent months, several cryptocurrencies in the likes of Cardano, Litecoin, and Binance Coin, along with small tokens, have outperformed Bitcoin by large margins.
Read the full story on CCN.com. || Alternatives to the modern financial system: Bitcoin is not the only challenger to our current neoliberal economic situation. Throughout history, in times of strife, people often look for alternatives. The hyperinflation of Weimar Germany, due to the massive reparations of the Versailles Treaty, led to the appeal of Nazism that Hitler was able to manipulate. The struggle of Tsarist Russia in World War One coupled with the high level of disapproval of the inept Tsar led to the Bolshevik revolution. The 2008 Financial Crisis has led to a populist rising in Hungary, Italy, Brazil and, most importantly, the USA. Even the situation with Brexit has links to 2008. Their solution to the economic woes of their citizens is to play the blame game. Immigration is the cause of your economic woes! Bitcoin itself is a reaction against this. But there are many more that are being discussed more pertinently as people scramble to deal with rising tensions. Andrew Yang has made waves in recent weeks, especially amongst the Bitcoin crowd since he used to have a habit of tweeting about it. Another is the dutch historian Rutger Bregman, who shot to notoriety at the most recent Davos conference. Both have suggested a form of Universal Basic Income as a solution to issues within society. Alexandria Ocasio-Cortez has become one of the biggest names in the US Democratic Party in the space of less than a year. Her bold idea is the Green New Deal, massive investment, and ensuring that the planet becomes sustainable. Reaction from the right-wing press to such ideas has been typical – arms in the air, huffing and puffing, suggesting these ideas will never ever work, and so on. Such journalists attempt to deal with competition of thoughts by appealing to your emotion, not through factual rebuffing. Appeals to emotion have been shown to be massively powerful throughout history, so why stop now? Whilst it can be difficult to detach yourself from living in the present, this period of history could come to define my generation. History has a habit of repeating itself with lessons seemingly never learned. Story continues I welcome the different approaches listed above and the challenge to our current status quo. They need to be discussed each on their own merits, less we stumble towards an even more antagonistic future. The post Alternatives to the modern financial system appeared first on Coin Rivet . || Alternatives to the modern financial system: Bitcoin is not the only challenger to our current neoliberal economic situation. Throughout history, in times of strife, people often look for alternatives. The hyperinflation of Weimar Germany, due to the massive reparations of the Versailles Treaty, led to the appeal of Nazism that Hitler was able to manipulate. The struggle of Tsarist Russia in World War One coupled with the high level of disapproval of the inept Tsar led to the Bolshevik revolution. The 2008 Financial Crisis has led to a populist rising in Hungary, Italy, Brazil and, most importantly, the USA. Even the situation with Brexit has links to 2008. Their solution to the economic woes of their citizens is to play the blame game. Immigration is the cause of your economic woes! Bitcoin itself is a reaction against this. But there are many more that are being discussed more pertinently as people scramble to deal with rising tensions. Andrew Yang has made waves in recent weeks, especially amongst the Bitcoin crowd since he used to have a habit of tweeting about it. Another is the dutch historian Rutger Bregman, who shot to notoriety at the most recent Davos conference. Both have suggested a form of Universal Basic Income as a solution to issues within society. Alexandria Ocasio-Cortez has become one of the biggest names in the US Democratic Party in the space of less than a year. Her bold idea is the Green New Deal, massive investment, and ensuring that the planet becomes sustainable. Reaction from the right-wing press to such ideas has been typical – arms in the air, huffing and puffing, suggesting these ideas will never ever work, and so on. Such journalists attempt to deal with competition of thoughts by appealing to your emotion, not through factual rebuffing. Appeals to emotion have been shown to be massively powerful throughout history, so why stop now? Whilst it can be difficult to detach yourself from living in the present, this period of history could come to define my generation. History has a habit of repeating itself with lessons seemingly never learned. Story continues I welcome the different approaches listed above and the challenge to our current status quo. They need to be discussed each on their own merits, less we stumble towards an even more antagonistic future. The post Alternatives to the modern financial system appeared first on Coin Rivet . || Tor Digital Privacy Project Accepts Donations in Cryptocurrency: Tor digital privacy software is now accepting donations in various cryptocurrencies, as a new cryptodonational portalappeared on the project’s website on March 18.
The site now accepts nine major cryptocurrencies, namely Bitcoin (BTC), Bitcoin Cash (BCH), Dash (DASH), Ethereum (ETH), Litecoin (LTC), Monero (XMR), Stellar Lumen (XLM), Augur (REP) and Zcash (ZEC).
Tor’s crypto donation page encourages users to “stand up for the universal human rights to privacy and freedom and help keep Tor robust and secure.” The page also specifies that users can contact the project if they would prefer to donate in a cryptocurrency not listed there.
The Tor Project is a non-profit that offers free and open-source software made for onion routing, the technology of anonymous information exchange. In addition, Tor has two official versions of its browser: Tor Browser and TorBro. The main purpose of using the Tor Browser is to remain anonymous and circumnavigate censorship by disguising an IP-address.
At press time, the Tor Project has not responded to Cointelegraph’s request for comment on the addition of crypto donations.
Countries wherein the internet has been heavily censored, such asVenezuela,RussiaandChina, have allintroducedbans on Tor and similar tech, such as virtual private networks.
Earlier this month, the head of the Finance Committee ofFrance’sNational Assemblysuggesteda ban on anonymouscryptocurrencies, or so-called privacy coins, such as ZEC and XMR.
The Tor community and crypto community both share an ethos of privacy and decentralization. In 2017, Researchers from the University of Waterloo in Ontario,Canadaand Concordia University in Quebecintroducedablockchain-based system which uses onion routing techniques to facilitate anonymous deliveries.
• Bitmain Says Now-Lapsed IPO Made Firm More Transparent, Reveals Appointment of New CEO
• Vitalik Buterin: Crypto Must Leave Behind the Individualism of the Early Cypherpunks
• LocalBitcoins Announces Supervision by Financial Supervisory Authority of Finland
• Bitcoin Holds $4,000, British Pound Loses to USD as Brexit Anticipation Grows || Tor Digital Privacy Project Accepts Donations in Cryptocurrency: Tor digital privacy software is now accepting donations in various cryptocurrencies, as a new crypto donational portal appeared on the project’s website on March 18. The site now accepts nine major cryptocurrencies, namely Bitcoin ( BTC ), Bitcoin Cash ( BCH ), Dash ( DASH ), Ethereum ( ETH ), Litecoin ( LTC ), Monero ( XMR ), Stellar Lumen ( XLM ), Augur ( REP ) and Zcash ( ZEC ). Tor’s crypto donation page encourages users to “stand up for the universal human rights to privacy and freedom and help keep Tor robust and secure.” The page also specifies that users can contact the project if they would prefer to donate in a cryptocurrency not listed there. The Tor Project is a non-profit that offers free and open-source software made for onion routing, the technology of anonymous information exchange. In addition, Tor has two official versions of its browser: Tor Browser and TorBro. The main purpose of using the Tor Browser is to remain anonymous and circumnavigate censorship by disguising an IP-address. At press time, the Tor Project has not responded to Cointelegraph’s request for comment on the addition of crypto donations. Countries wherein the internet has been heavily censored, such as Venezuela , Russia and China , have all introduced bans on Tor and similar tech, such as virtual private networks. Earlier this month, the head of the Finance Committee of France’s National Assembly suggested a ban on anonymous cryptocurrencies , or so-called privacy coins, such as ZEC and XMR. The Tor community and crypto community both share an ethos of privacy and decentralization. In 2017, Researchers from the University of Waterloo in Ontario, Canada and Concordia University in Quebec introduced a blockchain -based system which uses onion routing techniques to facilitate anonymous deliveries. Related Articles: Bitmain Says Now-Lapsed IPO Made Firm More Transparent, Reveals Appointment of New CEO Vitalik Buterin: Crypto Must Leave Behind the Individualism of the Early Cypherpunks LocalBitcoins Announces Supervision by Financial Supervisory Authority of Finland Bitcoin Holds $4,000, British Pound Loses to USD as Brexit Anticipation Grows || The Week Ahead – Brexit, Trade Talks, the Mueller Report and Stats in Focus: Economic data is on the heavier side in the week ahead. March consumer confidence figures on Tuesday and 2ndestimate, 4thquarter GDP numbers on Thursday will be key drivers mid-week. A revision to January retail sales figures is expected to weigh on the GDP numbers…
A particularly busy Friday sees the FED’s preferred core PCE Price Index figures released. Personal spending and consumer sentiment figures will also provide direction on the day.
From the real estate sector, building permits, housing starts, pending home sales and new home sales figures will also be released through the week.
Outside of the data, trade talks between the U.S and China will in focus along with FOMC member chatter through the week.
The Dollar Spot Indexended the week up 0.06% to $96.651
It’s a particularly busy week ahead for the EUR. The week kicks off with business sentiment figures out of Germany. The focus will be on the Business Climate Index figure on Monday.
German consumer sentiment figures and French GDP numbers on Tuesday will also influence ahead of a busy Friday.
German and French retail sales figures and German unemployment figures will be the key drivers on Friday.
Prelim March inflation figures out of France, Germany, Italy, and Spain will unlikely have a material impact, barring a marked rise in inflationary pressure.
Other stats through the week include 4thquarter GDP numbers out of Spain, which will also be largely ignored by the broader market.
Outside the stats, ECB President Draghi could hit the EUR in a scheduled speech on Wednesday.
The EUR/USDended the week down 0.21% to $1.1302.
A relatively quiet week ahead leaves the Pound in the hands of Brexit chatter and an anticipated Parliamentary vote on Theresa May’s deal ahead of key stats due out on Friday.
2ndestimate, 4thquarter GDP and business investment figures will influence the Pound on Friday. Barring a material deviation from prelim figures, however, Brexit progress will remain the key driver.
The GBP/USDended the week down 0.61% at $1.3209.
January trade data due out on Wednesday and GDP numbers due out on Friday will be the key drivers in the week.
Of lesser influence will be February’s RMPI figures due out on Friday.
The markets will be looking for a pickup in activity to support a possible shift the Bank of Canada’s outlook on monetary policy
Outside the numbers, we can expect risk sentiment and crude oil prices to also provide direction.
The Loonieended the week down by 0.70% to C$1.3429 against the U.S Dollar.
It’s a particularly quiet week. February private sector credit figures due out on Friday is the only stat to consider.
Outside the numbers, the RBA commentary on Tuesday and Wednesday could influence mid-week.
With the U.S – China trade talks to resume in the week ahead, risk sentiment will likely remain the key driver.
The Aussie Dollarended the week down 0.03% at $0.7083.
It’s a quieter week on the data front, with no material stats scheduled for release until Friday. Stats on Friday include March inflation figures, and February retail sales and industrial production figures.
While we can expect Friday’s figures to have some influence, market risk sentiment will be the key driver throughout the week.
The Japanese Yenended the week up 1.40% to ¥109.92 against the U.S Dollar.
Economic data scheduled for release includes February trade data on Tuesday and March consumer confidence numbers on Thursday.
Of less influence will be building consent figures due out on Friday.
Outside of the stats, the RBNZ monetary policy decision and forward guidance will be the key driver on Wednesday. The RBNZ is expected to leave rates unchanged, making the press conference and rate statement the main area of focus.
The Kiwi Dollarended the week up 0.48% to $0.6879.
There are no material stats scheduled for release, leaving progress on the U.S – China trade talks to influence risk sentiment in the week. A U.S delegate is scheduled to be in Beijing for talks on Thursday and Friday.
U.S – China Trade War: Expect more updates on trade talks. The markets will be looking for a resolution to outstanding issues to pave the way for a Trump – Xi Trade Summit.
Brexit: It’s do or die for the Pound. One more Parliamentary vote on Theresa May’s deal next week is expected following the EU’s extension ‘till 22ndMay.
Robert Mueller: A possible curveball. With the U.S President having avoided any interviews, anything is possible and needs to be monitored.
On the monetary policy front,
For the NZD,the RBNZ will deliver its March monetary policy decision. Will they maintain their hawkish outlook or take a step back? If January’s trade figures and consumer sentiment figures are anything to go by, there may be a more tempered outlook… Much will depend on February trade data due out on Tuesday.
For the USD, FOMC member commentary could provide direction, though there will need to be some hawkish chatter to provide Dollar support.
Thisarticlewas originally posted on FX Empire
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• U.S Mortgages – Rates Slide Again, While Demand Rises || The Week Ahead – Brexit, Trade Talks, the Mueller Report and Stats in Focus: On the Macro For the Dollar: Economic data is on the heavier side in the week ahead. March consumer confidence figures on Tuesday and 2 nd estimate, 4 th quarter GDP numbers on Thursday will be key drivers mid-week. A revision to January retail sales figures is expected to weigh on the GDP numbers… A particularly busy Friday sees the FED’s preferred core PCE Price Index figures released. Personal spending and consumer sentiment figures will also provide direction on the day. From the real estate sector, building permits, housing starts, pending home sales and new home sales figures will also be released through the week. Outside of the data, trade talks between the U.S and China will in focus along with FOMC member chatter through the week. The Dollar Spot Index ended the week up 0.06% to $96.651 For the EUR : It’s a particularly busy week ahead for the EUR. The week kicks off with business sentiment figures out of Germany. The focus will be on the Business Climate Index figure on Monday. German consumer sentiment figures and French GDP numbers on Tuesday will also influence ahead of a busy Friday. German and French retail sales figures and German unemployment figures will be the key drivers on Friday. Prelim March inflation figures out of France, Germany, Italy, and Spain will unlikely have a material impact, barring a marked rise in inflationary pressure. Other stats through the week include 4 th quarter GDP numbers out of Spain, which will also be largely ignored by the broader market. Outside the stats, ECB President Draghi could hit the EUR in a scheduled speech on Wednesday. The EUR/USD ended the week down 0.21% to $1.1302. For the Pound: A relatively quiet week ahead leaves the Pound in the hands of Brexit chatter and an anticipated Parliamentary vote on Theresa May’s deal ahead of key stats due out on Friday. 2 nd estimate, 4 th quarter GDP and business investment figures will influence the Pound on Friday. Barring a material deviation from prelim figures, however, Brexit progress will remain the key driver. Story continues The GBP/USD ended the week down 0.61% at $1.3209. For the Loonie: January trade data due out on Wednesday and GDP numbers due out on Friday will be the key drivers in the week. Of lesser influence will be February’s RMPI figures due out on Friday. The markets will be looking for a pickup in activity to support a possible shift the Bank of Canada’s outlook on monetary policy Outside the numbers, we can expect risk sentiment and crude oil prices to also provide direction. The Loonie ended the week down by 0.70% to C$1.3429 against the U.S Dollar. Out of Asia For the Aussie Dollar: It’s a particularly quiet week. February private sector credit figures due out on Friday is the only stat to consider. Outside the numbers, the RBA commentary on Tuesday and Wednesday could influence mid-week. With the U.S – China trade talks to resume in the week ahead, risk sentiment will likely remain the key driver. The Aussie Dollar ended the week down 0.03% at $0.7083. For the Japanese Yen: It’s a quieter week on the data front, with no material stats scheduled for release until Friday. Stats on Friday include March inflation figures, and February retail sales and industrial production figures. While we can expect Friday’s figures to have some influence, market risk sentiment will be the key driver throughout the week. The Japanese Yen ended the week up 1.40% to ¥109.92 against the U.S Dollar. For the Kiwi Dollar: Economic data scheduled for release includes February trade data on Tuesday and March consumer confidence numbers on Thursday. Of less influence will be building consent figures due out on Friday. Outside of the stats, the RBNZ monetary policy decision and forward guidance will be the key driver on Wednesday. The RBNZ is expected to leave rates unchanged, making the press conference and rate statement the main area of focus. The Kiwi Dollar ended the week up 0.48% to $0.6879. Out of China: There are no material stats scheduled for release, leaving progress on the U.S – China trade talks to influence risk sentiment in the week. A U.S delegate is scheduled to be in Beijing for talks on Thursday and Friday. Geo-Politics U.S – China Trade War : Expect more updates on trade talks. The markets will be looking for a resolution to outstanding issues to pave the way for a Trump – Xi Trade Summit. Brexit : It’s do or die for the Pound. One more Parliamentary vote on Theresa May’s deal next week is expected following the EU’s extension ‘till 22 nd May. Robert Mueller : A possible curveball. With the U.S President having avoided any interviews, anything is possible and needs to be monitored. The Rest On the monetary policy front , For the NZD, the RBNZ will deliver its March monetary policy decision. Will they maintain their hawkish outlook or take a step back? If January’s trade figures and consumer sentiment figures are anything to go by, there may be a more tempered outlook… Much will depend on February trade data due out on Tuesday. For the USD , FOMC member commentary could provide direction, though there will need to be some hawkish chatter to provide Dollar support. This article was originally posted on FX Empire More From FXEMPIRE: US Stock Market Overview – Stocks Drop on Global Growth Scare Crude Oil, Natural Gas Traders Worried About Demand, While Gold Specs Lift Bullish Bets Oil Price Fundamental Weekly Forecast – Supply Tightening But Demand Fears Growing USD/CAD Daily Price Forecast – US Dollar To Retain Positive Price Action Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 23/03/19 U.S Mortgages – Rates Slide Again, While Demand Rises || Price of Gold Fundamental Weekly Forecast – Underpinned by Dovish Fed but Gains Limited by Safe-Haven Demand for Dollar: Gold finished higher last week, but the response to the dovish Federal Reserve monetary policy decisions was weak. Gold also showed a disappointing response to the weak economic data from the Euro Zone on Friday that exacerbated fears of a global slowdown. The price action doesn’t suggest that sellers are stopping the market from rallying, but it could be indicating the lack of buyers.
Last week,June Comex goldfutures settled at $1318.70, up $9.80 or +0.75%.
At mid-week, gold received a boost after the Fed brought its three-year drive to tighten monetary policy to an abrupt end, abandoning projections for any interest rate hikes this year. On Friday, gold was bid after economic surveys showed business across the Euro Zone performed much worse than in March as factory activity contracted at the fastest pace in nearly six years, hurt by a big drop in demand.
After weeks of liquidation, professional money managers may have started to return to the long-side of the gold market. According to the latest government data, gold speculators lifted their bullish bets after three down weeks.
Analysts at TD Securities summed up the price action this way, “Price action in gold continues to lend strength to our view that expected data deterioration will help spark a gold rally as interest rates continue to fall in the context of a slowing global economy.”
Gold prices are primarily driven by the direction of the U.S. Dollar, and the dollar is primarily controlled by the direction of U.S. Treasury yields. However, the dollar can also be driven by safe-haven buying. The direction of the U.S. Dollar Index is mostly dictated by the direction of the Euro.
While calls for a U.S. recession rose on Friday when the 3-month T-Bill and 10-year Treasury yields inverted, gold was merely underpinned by the news. This was because the Euro plunged on the weak Euro Zone economic news, pushing the U.S. Dollar Index higher and leading to lower demand for dollar-denominated gold.
Last week’s price action suggests gold is likely to be supported by falling U.S. rates, but we’re not likely to see a steep rise in prices unless the U.S. Dollar weakens. Based on this assessment, we’re expecting a sideways to higher trade.
This week’s U.S. reports are limited to consumer confidence and Final GDP. In the Euro Zone, European Central Bank President Mario Draghi will speak. Unless the combination of bearish economic data and a friendly Draghi materializes, gold’s upside will be limited. Furthermore, we’re going to have to see more aggressive buying by the funds to launch another rally in gold.
Another way to put it, gold prices are likely to be capped as long as the U.S. Dollar remains the safe-haven asset of choice for investors.
Thisarticlewas originally posted on FX Empire
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• Price of Gold Fundamental Weekly Forecast – Underpinned by Dovish Fed but Gains Limited by Safe-Haven Demand for Dollar || Price of Gold Fundamental Weekly Forecast – Underpinned by Dovish Fed but Gains Limited by Safe-Haven Demand for Dollar: Gold finished higher last week, but the response to the dovish Federal Reserve monetary policy decisions was weak. Gold also showed a disappointing response to the weak economic data from the Euro Zone on Friday that exacerbated fears of a global slowdown. The price action doesn’t suggest that sellers are stopping the market from rallying, but it could be indicating the lack of buyers. Last week, June Comex gold futures settled at $1318.70, up $9.80 or +0.75%. At mid-week, gold received a boost after the Fed brought its three-year drive to tighten monetary policy to an abrupt end, abandoning projections for any interest rate hikes this year. On Friday, gold was bid after economic surveys showed business across the Euro Zone performed much worse than in March as factory activity contracted at the fastest pace in nearly six years, hurt by a big drop in demand. After weeks of liquidation, professional money managers may have started to return to the long-side of the gold market. According to the latest government data, gold speculators lifted their bullish bets after three down weeks. Analysts at TD Securities summed up the price action this way, “Price action in gold continues to lend strength to our view that expected data deterioration will help spark a gold rally as interest rates continue to fall in the context of a slowing global economy.” Weekly Forecast Gold prices are primarily driven by the direction of the U.S. Dollar, and the dollar is primarily controlled by the direction of U.S. Treasury yields. However, the dollar can also be driven by safe-haven buying. The direction of the U.S. Dollar Index is mostly dictated by the direction of the Euro. While calls for a U.S. recession rose on Friday when the 3-month T-Bill and 10-year Treasury yields inverted, gold was merely underpinned by the news. This was because the Euro plunged on the weak Euro Zone economic news, pushing the U.S. Dollar Index higher and leading to lower demand for dollar-denominated gold. Story continues Last week’s price action suggests gold is likely to be supported by falling U.S. rates, but we’re not likely to see a steep rise in prices unless the U.S. Dollar weakens. Based on this assessment, we’re expecting a sideways to higher trade. This week’s U.S. reports are limited to consumer confidence and Final GDP. In the Euro Zone, European Central Bank President Mario Draghi will speak. Unless the combination of bearish economic data and a friendly Draghi materializes, gold’s upside will be limited. Furthermore, we’re going to have to see more aggressive buying by the funds to launch another rally in gold. Another way to put it, gold prices are likely to be capped as long as the U.S. Dollar remains the safe-haven asset of choice for investors. This article was originally posted on FX Empire More From FXEMPIRE: Bitcoin – Stuck in a Rut and Going Nowhere. Can the Bears Take a Bite? Natural Gas Price Fundamental Weekly Forecast – Will Traders Defend the Range, or Continue to Exert Downside Pressure? Crude Oil, Natural Gas Traders Worried About Demand, While Gold Specs Lift Bullish Bets Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 23/03/19 Mueller Report: Will It Light the Fuse for Heightened Volatility? Price of Gold Fundamental Weekly Forecast – Underpinned by Dovish Fed but Gains Limited by Safe-Haven Demand for Dollar || Weird and wonderful: Jack Dorsey pretty much sums up the crypto space: So, earlier this week Jack Dorsey had the following to say about the crazy world of crypto. I love this technology and community. I’ve found it to be deeply principled, purpose-driven, edgy, and…really weird. Just like the early internet! I’m excited to get to learn more directly. — jack (@jack) March 20, 2019 Yes, Jack, it can be really weird at times, this is true. The Twitter boss made the comment as he announced that his PayTech venture Square was recruiting crypto staff and was offering to pay them in Bitcoin. He said that “Square is hiring 3–4 crypto engineers and one designer to work full-time on open source contributions to the Bitcoin/crypto ecosystem. Work from anywhere, report directly to me, and we can even pay you in Bitcoin! Introducing @SqCrypto .” He added: “This will be our first open source initiative independent of our business objectives. These folks will focus entirely on what’s best for the crypto community and individual economic empowerment, not on Square’s commercial interests. All resulting work will be open and free.” Square has taken a lot from the open source community and hasn’t given enough back, he admitted. “This is a small way to give back, and one that’s aligned with our broader interests: a more accessible global financial system for the internet.” Square registered $166 million in annual Bitcoin revenue for 2018. It racked up over $52 million in Bitcoin sales for Q4, surpassing Q3 by $9 million and Q2 by more than $15 million. However, profit from this part of the business, which involves the consumer app Cash, was low, as purchasing costs account for the vast majority of revenue. Last month, Dorsey said that he views Bitcoin as the internet’s native currency. “It was something that was born on the internet, that was developed on the internet, that was tested on the internet…It is of the internet.” The post Weird and wonderful: Jack Dorsey pretty much sums up the crypto space appeared first on Coin Rivet . || Weird and wonderful: Jack Dorsey pretty much sums up the crypto space: So, earlier this week Jack Dorsey had the following to say about the crazy world of crypto. I love this technology and community. I’ve found it to be deeply principled, purpose-driven, edgy, and…really weird. Just like the early internet! I’m excited to get to learn more directly. — jack (@jack) March 20, 2019 Yes, Jack, it can be really weird at times, this is true. The Twitter boss made the comment as he announced that his PayTech venture Square was recruiting crypto staff and was offering to pay them in Bitcoin. He said that “Square is hiring 3–4 crypto engineers and one designer to work full-time on open source contributions to the Bitcoin/crypto ecosystem. Work from anywhere, report directly to me, and we can even pay you in Bitcoin! Introducing @SqCrypto .” He added: “This will be our first open source initiative independent of our business objectives. These folks will focus entirely on what’s best for the crypto community and individual economic empowerment, not on Square’s commercial interests. All resulting work will be open and free.” Square has taken a lot from the open source community and hasn’t given enough back, he admitted. “This is a small way to give back, and one that’s aligned with our broader interests: a more accessible global financial system for the internet.” Square registered $166 million in annual Bitcoin revenue for 2018. It racked up over $52 million in Bitcoin sales for Q4, surpassing Q3 by $9 million and Q2 by more than $15 million. However, profit from this part of the business, which involves the consumer app Cash, was low, as purchasing costs account for the vast majority of revenue. Last month, Dorsey said that he views Bitcoin as the internet’s native currency. “It was something that was born on the internet, that was developed on the internet, that was tested on the internet…It is of the internet.” The post Weird and wonderful: Jack Dorsey pretty much sums up the crypto space appeared first on Coin Rivet . || ShapeShift flags up Lightning Pizza ordering glitch: Crypto exchange ShapeShift tried to get its hands on some Dominos pizza using the Bitcoin Lightning Network. And it didnt go so well. Soooo @ShapeShift_io just tried to order 18 pizzas for lunch via Bitcoin Lightning network with @LN_Pizza and max apparently is two pizzas ='( Perhaps we should measure layer two scaling in pepperoni's per second (PPS)? Erik Voorhees (@ErikVoorhees) March 20, 2019 Hilarity ensued as you will see by checking the responses to Erik Voorhees tweet. Lightning Pizzas website says that it enables you to order Dominos pizza using the Lightning Network at a discount. Every order is 5% off, <$0.01 transaction fees, instant settlements and ~30min delivery time. Lightning Pizza is the first US nationwide retail service powered by lightning payments meant to spread utility and spur awareness and adoption. The Lightning Pizza stands on the shoulders of giants, special thanks to LND labs, Satoshi, etc. The venture took to Twitter to announce: Had some trouble scaling on-(pizza)chain transactions today. Now we owe @ErikVoorhees a pizza bounty for spotting it! The post ShapeShift flags up Lightning Pizza ordering glitch appeared first on Coin Rivet . || ShapeShift flags up Lightning Pizza ordering glitch: Crypto exchange ShapeShift tried to get its hands on some Dominos pizza using the Bitcoin Lightning Network. And it didnt go so well. Soooo @ShapeShift_io just tried to order 18 pizzas for lunch via Bitcoin Lightning network with @LN_Pizza and max apparently is two pizzas ='( Perhaps we should measure layer two scaling in pepperoni's per second (PPS)? Erik Voorhees (@ErikVoorhees) March 20, 2019 Hilarity ensued as you will see by checking the responses to Erik Voorhees tweet. Lightning Pizzas website says that it enables you to order Dominos pizza using the Lightning Network at a discount. Every order is 5% off, <$0.01 transaction fees, instant settlements and ~30min delivery time. Lightning Pizza is the first US nationwide retail service powered by lightning payments meant to spread utility and spur awareness and adoption. The Lightning Pizza stands on the shoulders of giants, special thanks to LND labs, Satoshi, etc. The venture took to Twitter to announce: Had some trouble scaling on-(pizza)chain transactions today. Now we owe @ErikVoorhees a pizza bounty for spotting it! The post ShapeShift flags up Lightning Pizza ordering glitch appeared first on Coin Rivet . || Oil Price Fundamental Weekly Forecast – Supply Tightening But Demand Fears Growing: U.S. West Texas Intermediate and international-benchmark crude oil futures finished mixed last week with the U.S. market managing to eke out a small gain and the international market ending slightly lower, but the price action on Friday suggests there is room for further downside pressure.
Early in the week, the markets were able to overtake a key technical level on their way to a 4-month high, mostly on the back of the OPEC-led supply cuts and talk of extending the plan to cut production, trim the global supply and stabilize prices. However, these gains were erased when concerns about demand were brought to the forefront on Friday.
Last week,May WTI crude oilsettled at $59.04, up $0.22 or +0.37% andJune Brent crude oilfinished at $66.75, down $0.29 or -0.43%.
Although buyers were able to produce a new multi-month high, WTI and Brent crude oil settled lower three out of five sessions. This suggests the selling may be getting stronger, or the buying weaker.
Fundamentally, creeping into the minds of traders were concerns over demand due to worries over the slowing U.S. and global economies. The Fed contributed to the worries over domestic demand when they slashed their growth forecast and hinted the economy wasn’t strong enough to withstand any more rate hikes this year.
Further concerns over demand were raised when reports showed manufacturers in Europe, Japan and the United States suffered in March as surveys showed trade tensions had impacted factory output.
Crude oil prices rallied mid-week after the U.S. Energy Information Administration reported that U.S. crude stockpiles fell by 9.6 million barrels for the week-ended March 15. Traders were looking for a build of 1 million barrels.
Supplies of gasoline also dropped by 4.6 million barrels, while distillates fell by 4.1 million barrels last week, according to the EIA. Traders were looking for supply declines of 2.1 million barrels each for gasoline and distillates.
According to energy services firm Baker Hughes, U.S. energy firms reduced the number of oil rigs operating for a fifth week in a row, cutting nine rigs to the lowest count in nearly a year as independent producers follow through on plans to cut spending with the government cutting its growth forecasts for shale output.
We’ve been here before. Prices continue to be supported by the OPEC-led production cuts and the U.S. sanctions against Iran and Venezuela. And, concerns over demand continue to slow the rally. However, the first concern over demand was fueled by worries over a slowdown in China’s economy. Friday’s move was fueled by weak data from Europe. Additionally, the Fed may have sent a message that it expects a slowdown in the U.S. economy when it turned even more dovish by saying it would not raise rates this year.
If demand concerns continue to grow then prices are likely to become rangebound over the near-term. Any additional reports confirming a slowdown in the domestic and global economies are likely to continue to exert downside pressure.
Thisarticlewas originally posted on FX Empire
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[Social Media Buzz]
W poniedziałek 25 Marca o godzinie 20:00 zapraszam na cykliczny darmowy webinar z serii "Tygodniowy przegląd rynków kryptowalut"
Link do zapisu:
https://webinaryzbitbay.subscribemenow.com/
#BitBay #Bitcoin #Altcoin #Kryptowaluty #Webinar @BitBay #Edukacja #Tradingpic.twitter.com/grhf0nQlND || ツイート数の多かった仮想通貨
1位 $BTC 317 Tweets
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3位 $XRP 88 Tweets
4位 $ETH 55 Tweets
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2019-03-25 19:00 ～ 2019-03-25 19:59
COINTREND いまTwitterで話題の仮想通貨を探せ！
https://cointrend.jp/ || S d...
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3985.08, 4087.07, 4069.11, 4098.37, 4106.66, 4105.40, 4158.18, 4879.88, 4973.02, 4922.80
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Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 238.73, 238.26, 240.38, 246.06, 242.97, 242.30, 243.93, 244.94, 247.05, 245.31, 249.51, 251.99, 254.32, 262.87, 270.64, 261.64, 263.44, 269.46, 266.27, 274.02, 276.50, 281.65, 283.68, 285.30, 293.79, 304.62, 313.86, 328.02, 314.17, 325.43, 361.19, 403.42, 411.56, 386.35, 374.47, 386.48, 373.37, 380.26, 336.82, 311.08, 338.15, 336.75, 332.91, 320.17, 330.75, 335.09, 334.59, 326.15, 322.02, 326.93, 324.54, 323.05, 320.05, 328.21, 352.68, 358.04, 357.38, 371.29, 377.32, 362.49, 359.19, 361.05, 363.18, 388.95, 388.78, 395.54, 415.56, 417.56, 415.48, 451.94, 435.00, 433.76, 444.18, 465.32, 454.93, 456.08, 463.62, 462.32, 442.68, 438.64, 436.57, 442.40, 454.98, 455.65, 417.27, 422.82, 422.28, 432.98, 426.62, 430.57.
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[Bitcoin Technical Analysis for 2015-12-31]
Volume: 45996600, RSI (14-day): 53.02, 50-day EMA: 398.77, 200-day EMA: 318.60
[Wider Market Context]
Gold Price: 1060.30, Gold RSI: 43.68
Oil Price: 37.04, Oil RSI: 45.10
[Recent News (last 7 days)]
Your first trade for Wednesday: The "Fast Money" traders delivered their final picks with just two trading days left in the year.
Pete Najarian was a buyer ofWynn Resorts(WYNN).
Brian Kelly was a buyer of Trina Solar(TSL).
Dan Nathan was a seller of McDonald's(MCD).
Guy Adami was a buyer of Thermo Fisher Scientific(TMO).
Trader disclosure: On December 29, 2015, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Pete Najarian is longLong AAPL, BAC, BMY, BP, DIS, DISCA, FOXA, GE, KO, MRK, PEP, PFE, he is long calls A, ABX, BAC, COP, DAL, DDD, EMR, EXAS, HAIN, HUN, LC, LULU, MOS, MSFT, NRF, NSAM, PNR, SCSS, UAL, VZ, WLL, WYNN, He is long puts FCX, MRO, WFT. Dan Nathan is long MCD Feb Put Spread, Long PFE buy-write, Long TWTR March Risk Reversal, Long UUP March call, Long XLU Feb Call spread, Long PYPL Jan Risk Reversal, Long M Jan16 call spread, Long NTAP Jan risk reversal, Long GM Jan Put Butterfly, Long Len Jan Put Fly, Long QCOM feb calls, Short SPY, Long UUP. Brian Kelly is long BBRY, Bitcoin, GDX, GLD, Hong Kong Dollar, TLT, US Dollar; he is short British Pound, Euro, Yen, Yuan, Canadian Dollar, GSG, EEM, EWC, EWH, KRE, SPY. Guy Adami is long CELG, EXAS, GDX, INTC, Guy Adami's wife, Linda Snow, works at Merck.
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• Personal Finance || Your first trade for Wednesday: The " Fast Money " traders delivered their final picks with just two trading days left in the year. Pete Najarian was a buyer ofWynn Resorts ( WYNN ) . Brian Kelly was a buyer of Trina Solar ( TSL ) . Dan Nathan was a seller of McDonald's ( MCD ) . Guy Adami was a buyer of Thermo Fisher Scientific ( TMO ) . Trader disclosure: On December 29, 2015, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Pete Najarian is long Long AAPL, BAC, BMY, BP, DIS, DISCA, FOXA, GE, KO, MRK, PEP, PFE, he is long calls A, ABX, BAC, COP, DAL, DDD, EMR, EXAS, HAIN, HUN, LC, LULU, MOS, MSFT, NRF, NSAM, PNR, SCSS, UAL, VZ, WLL, WYNN, He is long puts FCX, MRO, WFT. Dan Nathan is long MCD Feb Put Spread, Long PFE buy-write, Long TWTR March Risk Reversal, Long UUP March call, Long XLU Feb Call spread, Long PYPL Jan Risk Reversal, Long M Jan16 call spread, Long NTAP Jan risk reversal, Long GM Jan Put Butterfly, Long Len Jan Put Fly, Long QCOM feb calls, Short SPY, Long UUP. Brian Kelly is long BBRY, Bitcoin, GDX, GLD, Hong Kong Dollar, TLT, US Dollar; he is short British Pound, Euro, Yen, Yuan, Canadian Dollar, GSG, EEM, EWC, EWH, KRE, SPY. Guy Adami is long CELG, EXAS, GDX, INTC, Guy Adami's wife, Linda Snow, works at Merck. More From CNBC Top News and Analysis Latest News Video Personal Finance || Anarchists love 2015's best performing asset: Gold is down nearly 10 percent, major U.S. stock indexes are roughly flat and energy commodities have nearly all fallen more than 30 percent: It's been a tough year for investors. And while individual stocks have seen big pops on headlines, perhaps the best performing non-equity asset of the year is a favorite among crypto-anarchists. Bitcoin (: BTC=) , the digital currency heralded as a potential successor to the global monetary system, is up about 37 percent against the U.S. dollar since the beginning of the year. The cryptocurrency went for about $313 at the beginning of the year, according to CoinDesk's composite price index, and is now changing hands at around $430. Those huge gains come after starting the year on rocky footing: Bitcoin dipped to below $175 in mid-January. But after a few false starts, the digital currency has been largely gaining ground since the beginning of October. (One of the few investment options with a comparable 2015 return is Argentina's benchmark Merval — up about 40 percent on the year. Although U.S. investors playing the Global X Argentina ETF would be disappointed by the fund's slight loss in 2015.) It's hard to say what's actually caused Bitcoin's rise during the last three months of 2015. In November, digital ecosystem observers told CNBC that a 70 percent one-month spike may have been caused in part by headlines like the Winklevoss twins launching their exchange and the Digital Currency Group announcing funding from Bain and MasterCard . Others suggested that the relatively lightly traded asset could have been jumping on speculators' fear of missing out (FOMO). For Brendan O'Connor, the CEO of bitcoin trading firm Genesis Global Trading, the year-end run up was the result of a series of positive trends for the asset. On the one hand, O'Connor said, funding announcements from bitcoin-related start-ups helped to establish the legitimacy of the sector — and its underlying technology. This has helped push institutional investors into making investments in both the digital token and the over-the-counter Bitcoin Investment Trust ( more on that ETF-like vehicle can be found here ). Story continues "They're looking for investments in non-correlated asset classes," O'Connor said, explaining that financial firms regularly come to his office to learn how to trade bitcoin. "I still think that by and large they're viewing it as a speculative investment, but I think that their willingness to test the waters has increased dramatically." Another important trend in the space has been the gradually increasing interest the technology — and it's negligible fee structure — for remittance payments and as a daily currency in monetarily challenged parts of the world, O'Connor said. That potential came to the forefront of the tech discussion during the summer's Greek crisis: When the country instituted capital controls in the face of increasingly dire eurozone negotiations, countless articles were written about bitcoin's potential for struggling citizens . It's unclear if those prophecies ever came to any real fruition, but investors in the space say the positive press coverage at least boosted awareness of bitcoin's potential. Finally, bitcoin may have simply benefited from the lack of any disastrous headlines. Many traders say the cryptocurrency has shed the pall of failed exchange Mt. Gox — which quickly shuttered in 2014 after saying it lost 850,000 bitcoins (worth about $365 million today). Bitcoin's fall from more than $1,150 near the end of 2013 to this January's $200 levels represented the asset's "long winter," according to economist Tuur Demeester, editor-in-chief of bitcoin-focused Adamant Research. The story of 2015, therefore, has been a bottoming out for the digital asset, and a climb to revaluation. Bitcoin's fall from its highs, Demeester said, was the result of "bubblicious" investing in 2013 (with some help from Mt. Gox). Pricing levels remained depressed for so long because companies had become over-leveraged, and so had been squeezed into heavy bitcoin selling, he said. As for 2016, Demeester suggested that the cryptocurrency could likely see another leg up as newly confident investors seek the right market valuation. "But," he said, "with bitcoin you have to expect to be surprised." More From CNBC Top News and Analysis Latest News Video Personal Finance || Anarchists love 2015's best performing asset: Gold is down nearly 10 percent, major U.S. stock indexes are roughly flat and energy commodities have nearly all fallen more than 30 percent: It's been a tough year for investors. And while individual stocks have seen big pops on headlines, perhaps the best performing non-equity asset of the year is a favorite among crypto-anarchists.
Bitcoin(: BTC=), the digital currency heralded as a potential successor to the global monetary system, is up about 37 percent against the U.S. dollar since the beginning of the year. The cryptocurrency went for about $313 at the beginning of the year, according to CoinDesk's composite price index, and is now changing hands at around $430.
Those huge gains come after starting the year on rocky footing: Bitcoin dipped to below $175 in mid-January. But after a few false starts, the digital currency has been largely gaining ground since the beginning of October.
(One of the few investment options with a comparable 2015 return is Argentina's benchmark Merval — up about 40 percent on the year. Although U.S. investors playing the Global X Argentina ETF would be disappointed by the fund's slight loss in 2015.)
It's hard to say what's actually caused Bitcoin's rise during the last three months of 2015.
In November,digital ecosystem observers told CNBCthat a 70 percent one-month spike may have been caused in part byheadlines like theWinklevoss twins launching their exchangeand the Digital Currency Groupannouncing fundingfrom Bain andMasterCard.Others suggestedthat the relatively lightly traded asset could have been jumping on speculators' fear of missing out (FOMO).
For Brendan O'Connor, the CEO of bitcoin trading firm Genesis Global Trading, the year-end run up was the result of a series of positive trends for the asset.
On the one hand, O'Connor said, funding announcements from bitcoin-related start-ups helped to establish the legitimacy of the sector — and its underlying technology. This has helped push institutional investors into making investments in both the digital token and the over-the-counter Bitcoin Investment Trust (more on that ETF-like vehicle can be found here).
"They're looking for investments in non-correlated asset classes," O'Connor said, explaining that financial firms regularly come to his office to learn how to trade bitcoin. "I still think that by and large they're viewing it as a speculative investment, but I think that their willingness to test the waters has increased dramatically."
Another important trend in the space has been the gradually increasing interest the technology — and it's negligible fee structure — for remittance payments and as a daily currency in monetarily challenged parts of the world, O'Connor said.
That potential came to the forefront of the tech discussion during the summer's Greek crisis: When the country instituted capital controls in the face of increasingly dire eurozone negotiations,countlessarticleswerewrittenaboutbitcoin'spotentialforstrugglingcitizens.
It's unclear if those prophecies ever came to any real fruition, but investors in the space say the positive press coverage at least boosted awareness of bitcoin's potential.
Finally, bitcoin may have simply benefited from the lack of any disastrous headlines. Many traders say the cryptocurrency has shed the pall offailed exchange Mt. Gox— which quickly shuttered in 2014 after saying it lost 850,000 bitcoins (worth about $365 million today).
Bitcoin's fall from more than $1,150 near the end of 2013 to this January's $200 levels represented the asset's "long winter," according to economist Tuur Demeester, editor-in-chief of bitcoin-focused Adamant Research. The story of 2015, therefore, has been a bottoming out for the digital asset, and a climb to revaluation.
Bitcoin's fall from its highs, Demeester said, was the result of "bubblicious" investing in 2013 (with some help from Mt. Gox). Pricing levels remained depressed for so long because companies had become over-leveraged, and so had been squeezed into heavy bitcoin selling, he said.
As for 2016, Demeester suggested that the cryptocurrency could likely see another leg up as newly confident investors seek the right market valuation.
"But," he said, "with bitcoin you have to expect to be surprised."
More From CNBC
• Top News and Analysis
• Latest News Video
• Personal Finance || 5 'Bold' Predictions For 2016: In a new report, Cup & Handle Macro analyst Michael Lingenheld revealed five bold market predictions for 2016. Here’s a breakdown of his list.
1. Revolution in a major emerging market
Lingenheld believes that South Africa is the top target, but names Turkey, Indonesia, Malaysia, Saudi Arabia, Ukraine and Russia as other possibilities. All of these countries are currently suffering from large debt burdens, poor leadership and high youth unemployment.
2. Bitcoin outperforms all fiat currencies
Lingenheld made this same prediction prior to 2015, and it came true. Bitcoin gained 35 percent in 2015, and he sees no reason why the cryptocurrency won’t outperform again in 2016.
3. A major currency peg will break
Lingenheld notes that the IMF’s annual review of currency regimes revealed than only 35 percent of member countries let their currencies float as of the beginning of 2015. He adds that Middle Eastern countries suffering from low oil prices are top candidates, including Saudi Arabia, Kuwait and UAE.
“Bringing down any of these pegs would be a major macro story, but a free-floating or devalued Hong Kong Dllar would be a monumental development,” Lingenheld explains.
4. Corn and wheat will each rally at least 20 percent
Global stock-to-use ratios are at 16-year highs, and low gas prices have been a major boost for farmers. However, Lingenheld is not convinced that crop prices are high enough to drive a huge planting season in the spring.
5. A unicorn company will go bankrupt
Lingenheld sees a shift in market enthusiasm for new tech companies, including the disappointingSquare Inc(NYSE:SQ) IPO pricing. He believes that the reality of competing with big tech companies likeAlphabet Inc(NASDAQ:GOOGL), Apple Inc.(NASDAQ:AAPL) andAmazon.com, Inc.(NASDAQ:AMZN) will start weighing heavily on smaller unicorn companies and their investors.
Disclosure: the author holds no position in the stocks mentioned.
Latest Ratings for AAPL
[{"Dec 2015": "Dec 2015", "Cowen & Company": "Barclays", "Maintains": "Maintains", "": "", "Market Perform": "Overweight"}, {"Dec 2015": "Dec 2015", "Cowen & Company": "BMO Capital", "Maintains": "Initiates Coverage on", "": "", "Market Perform": "Outperform"}]
View More Analyst Ratings for AAPLView the Latest Analyst Ratings
See more from Benzinga
• Apple's Chart Indicates A Tough Start To 2016 Ahead
• CES 2016 Expected To Be Huge For Drones, Virtual Reality And Wearables
• Apple Stock For ? How Fractional Investing Changes The Game
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || 5 'Bold' Predictions For 2016: In a new report, Cup & Handle Macro analyst Michael Lingenheld revealed five bold market predictions for 2016. Heres a breakdown of his list. 1. Revolution in a major emerging market Lingenheld believes that South Africa is the top target, but names Turkey, Indonesia, Malaysia, Saudi Arabia, Ukraine and Russia as other possibilities. All of these countries are currently suffering from large debt burdens, poor leadership and high youth unemployment. 2. Bitcoin outperforms all fiat currencies Lingenheld made this same prediction prior to 2015, and it came true. Bitcoin gained 35 percent in 2015, and he sees no reason why the cryptocurrency wont outperform again in 2016. 3. A major currency peg will break Lingenheld notes that the IMFs annual review of currency regimes revealed than only 35 percent of member countries let their currencies float as of the beginning of 2015. He adds that Middle Eastern countries suffering from low oil prices are top candidates, including Saudi Arabia, Kuwait and UAE. Bringing down any of these pegs would be a major macro story, but a free-floating or devalued Hong Kong Dllar would be a monumental development, Lingenheld explains. 4. Corn and wheat will each rally at least 20 percent Global stock-to-use ratios are at 16-year highs, and low gas prices have been a major boost for farmers. However, Lingenheld is not convinced that crop prices are high enough to drive a huge planting season in the spring. 5. A unicorn company will go bankrupt Lingenheld sees a shift in market enthusiasm for new tech companies, including the disappointing Square Inc (NYSE: SQ ) IPO pricing. He believes that the reality of competing with big tech companies like Alphabet Inc (NASDAQ: GOOGL ) , Apple Inc. (NASDAQ: AAPL ) and Amazon.com, Inc. (NASDAQ: AMZN ) will start weighing heavily on smaller unicorn companies and their investors. Disclosure: the author holds no position in the stocks mentioned. Latest Ratings for AAPL Dec 2015 Cowen & Company Maintains Market Perform Dec 2015 Barclays Maintains Overweight Dec 2015 BMO Capital Initiates Coverage on Outperform View More Analyst Ratings for AAPL View the Latest Analyst Ratings Story continues See more from Benzinga Apple's Chart Indicates A Tough Start To 2016 Ahead CES 2016 Expected To Be Huge For Drones, Virtual Reality And Wearables Apple Stock For ? How Fractional Investing Changes The Game © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || How Diageo Plans To Turn Its Smirnoff Brand Around: Diageo Plc (ADR) (NYSE: DEO ) has already declared its New Year's resolution to turn its struggling Smirnoff vodka brand around. In the 2014-2015 financial year, Smirnoff sales by 3 percent as consumers turned their attention to "craft" vodka brands with smaller batches and local distilleries. Flavor Mistakes However, Smirnoff wasn't always struggling. The brand became hugely popular with several flavor varieties when consumers were interested in unique cocktails, but that era seems to have ended leaving the vodka brand behind with it. In an effort to revive the brand this year, the company added 42 new flavors designed to appeal to younger drinkers. However, the decision missed the mark and Smirnoff global brand director Matt Bruhn admitted that the flavor additions were a "mistake." New Strategy Diageo Chief Executive Ivan Menzes vowed to turn the brand around this year as vodka market makes up about 12 percent of the company's net sales. In order to do this, Smirnoff is to cut down on the number of flavors offered and embed its name into the electronic-dance-music community. Smirnoff is slated to sponsor 26 electronic-music festivals in the coming year and the brand has also developed a sound collective that will sponsor fresh new electronic-music artists. The company has also created a line of glow-in-the dark flavors that will be marketed as shots. Competing With Craft All of Smirnoff's efforts in the coming year are designed to appeal to the coveted millennial generation, a group that has recently reached the legal drinking age and makes up a huge percentage of the market. While Smirnoff's efforts are valiant, many believe that the company is fighting an uphill battle as bespoke companies that make unique offerings have become popular choices among young people. See more from Benzinga What's In Store For Bitcoin In 2016? FedEx Gets The Blame For Holiday Delays How Blockchain Can Reform The Real Estate Industry © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || How Diageo Plans To Turn Its Smirnoff Brand Around: Diageo Plc (ADR)(NYSE:DEO) has already declared its New Year's resolution — to turn its struggling Smirnoff vodka brand around. In the 2014-2015 financial year, Smirnoff sales by 3 percent as consumers turned their attention to "craft" vodka brands with smaller batches and local distilleries.
Flavor Mistakes
However, Smirnoff wasn't always struggling. The brand became hugely popular with several flavor varieties when consumers were interested in unique cocktails, but that era seems to have ended leaving the vodka brand behind with it.
In an effort to revive the brand this year, the company added 42 new flavors designed to appeal to younger drinkers. However, the decision missed the mark and Smirnoff global brand director Matt Bruhn admitted that the flavor additions were a "mistake."
New Strategy
Diageo Chief Executive Ivan Menzes vowed to turn the brand around this year as vodka market makes up about 12 percent of the company's net sales. In order to do this, Smirnoff is to cut down on the number of flavors offered and embed its name into the electronic-dance-music community.
Smirnoff is slated to sponsor 26 electronic-music festivals in the coming year and the brand has also developed a sound collective that will sponsor fresh new electronic-music artists. The company has also created a line of glow-in-the dark flavors that will be marketed as shots.
Competing With Craft
All of Smirnoff's efforts in the coming year are designed to appeal to the coveted millennial generation, a group that has recently reached the legal drinking age and makes up a huge percentage of the market. While Smirnoff's efforts are valiant, many believe that the company is fighting an uphill battle as bespoke companies that make unique offerings have become popular choices among young people.
See more from Benzinga
• What's In Store For Bitcoin In 2016?
• FedEx Gets The Blame For Holiday Delays
• How Blockchain Can Reform The Real Estate Industry
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || What's In Store For Bitcoin In 2016?: This year was a difficult one for cryptocurrencies as they struggled with volatile prices and negative press. Many view currencies like bitcoin as tools for criminals and investors tended to shy away from the currency as volatile price swings made it difficult to make accurate predictions. However, many believe that 2016 could be a monumental year for bitcoin as and the underlying technology that the coin runs on gains notoriety. Supply Cut Unlike traditional currencies, the number of bitcoins available to the public is controlled by mining computers. The computers essentially solve mathematical puzzles in order to release new bitcoins. The system was also designed to keep the number of bitcoins finite at 21 million coins, a figure to be reached in the next 125 years. Not only that, but the reward for mining bitcoins would be cut in half every four years, and July 2016 marks the next time that cut is set to take place. Related Link: Ben Bernanke Sees Serious Problems With Bitcoin Price Increase Many believe that halving the number of bitcoins received from each mining transaction will give the cryptocurrency's price a boost. While it has been well known for years that bitcoin supply would be reduced, the fact that the bitcoin market is still so new has kept traders from fully pricing the event in. Blockchain Investments Bitcoin could also see a boost in the coming year as blockchain gains popularity across several industries. The ledger-like system that bitcoin runs on has been touted as one of the most important technological advances of the decade, and many see it revolutionizing the way several industries do business. Blockchain has been suggested as a way to improve the real estate market, make the music industry more transparent and improve the speed and efficiency of financial transactions. See more from Benzinga FedEx Gets The Blame For Holiday Delays How Blockchain Can Reform The Real Estate Industry Not All Of Clinton's Policies Are Bad For Pharmaceuticals © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || What's In Store For Bitcoin In 2016?: This year was a difficult one for cryptocurrencies as they struggled with volatile prices and negative press.
Many view currencies like bitcoin as tools for criminals and investors tended to shy away from the currency as volatile price swings made it difficult to make accurate predictions. However, many believe that 2016 could be a monumental year for bitcoin as and the underlying technology that the coin runs on gains notoriety.
Supply Cut
Unlike traditional currencies, the number of bitcoins available to the public is controlled by mining computers. The computers essentially solve mathematical puzzles in order to release new bitcoins. The system was also designed to keep the number of bitcoins finite at 21 million coins, a figure to be reached in the next 125 years.
Not only that, but the reward for mining bitcoins would be cut in half every four years, and July 2016 marks the next time that cut is set to take place.
Related Link:Ben Bernanke Sees Serious Problems With Bitcoin
Price Increase
Many believe that halving the number of bitcoins received from each mining transaction will give the cryptocurrency's price a boost. While it has been well known for years that bitcoin supply would be reduced, the fact that the bitcoin market is still so new has kept traders from fully pricing the event in.
Blockchain Investments
Bitcoin could also see a boost in the coming year as blockchain gains popularity across several industries. The ledger-like system that bitcoin runs on has been touted as one of the most important technological advances of the decade, and many see it revolutionizing the way several industries do business.
Blockchain has been suggested as a way to improve the real estate market, make the music industry more transparent and improve the speed and efficiency of financial transactions.
See more from Benzinga
• FedEx Gets The Blame For Holiday Delays
• How Blockchain Can Reform The Real Estate Industry
• Not All Of Clinton's Policies Are Bad For Pharmaceuticals
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || What's In Store For Bitcoin In 2016?: This year was a difficult one for cryptocurrencies as they struggled with volatile prices and negative press.
Many view currencies like bitcoin as tools for criminals and investors tended to shy away from the currency as volatile price swings made it difficult to make accurate predictions. However, many believe that 2016 could be a monumental year for bitcoin as and the underlying technology that the coin runs on gains notoriety.
Supply Cut
Unlike traditional currencies, the number of bitcoins available to the public is controlled by mining computers. The computers essentially solve mathematical puzzles in order to release new bitcoins. The system was also designed to keep the number of bitcoins finite at 21 million coins, a figure to be reached in the next 125 years.
Not only that, but the reward for mining bitcoins would be cut in half every four years, and July 2016 marks the next time that cut is set to take place.
Related Link:Ben Bernanke Sees Serious Problems With Bitcoin
Price Increase
Many believe that halving the number of bitcoins received from each mining transaction will give the cryptocurrency's price a boost. While it has been well known for years that bitcoin supply would be reduced, the fact that the bitcoin market is still so new has kept traders from fully pricing the event in.
Blockchain Investments
Bitcoin could also see a boost in the coming year as blockchain gains popularity across several industries. The ledger-like system that bitcoin runs on has been touted as one of the most important technological advances of the decade, and many see it revolutionizing the way several industries do business.
Blockchain has been suggested as a way to improve the real estate market, make the music industry more transparent and improve the speed and efficiency of financial transactions.
See more from Benzinga
• FedEx Gets The Blame For Holiday Delays
• How Blockchain Can Reform The Real Estate Industry
• Not All Of Clinton's Policies Are Bad For Pharmaceuticals
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
[Social Media Buzz]
LIVE: Profit = $240.73 (4.38 %). BUY B13.50 @ $420.00 (#VirCurex). SELL @ $422.10 (#HitBTC) #bitcoin #btc - http://www.projectcoin.org || Bitstamp: $425.71/BTC - last trade of USD/BTC at https://www.bitstamp.net/ (high: 434.00, low: 420.75) #bitcoin #BTC http://bitcoinautotrade.com || $432.38 at 00:15 UTC [24h Range: $419.99 - $433.89 Volume: 6602 BTC] || Current price: 388.46€ $BTCEUR $btc #bitcoin 2015-12-31 06:00:04 CET || LIVE: Profit = $193.60 (9.24 %). BUY B5.42 @ $410.00 (#VirCurex). S...
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434.33, 433.44, 430.01, 433.09, 431.96, 429.11, 458.05, 453.23, 447.61, 447.99
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Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 36894.41, 35551.96, 35862.38, 33560.71, 33472.63, 37345.12, 36702.60, 37334.40, 35552.52, 39097.86, 40218.48, 40406.27, 38347.06, 38053.50, 35787.25, 35615.87, 35698.30, 31676.69, 32505.66, 33723.03, 34662.44, 31637.78, 32186.28, 34649.64, 34434.34, 35867.78, 35040.84, 33572.12, 33897.05, 34668.55, 35287.78, 33746.00, 34235.20, 33855.33, 32877.37, 33798.01, 33520.52, 34240.19, 33155.85, 32702.03, 32822.35, 31780.73, 31421.54, 31533.07, 31796.81, 30817.83, 29807.35, 32110.69, 32313.11, 33581.55, 34292.45, 35350.19, 37337.54, 39406.94, 39995.91, 40008.42, 42235.55, 41626.20, 39974.89, 39201.95, 38152.98, 39747.50, 40869.55, 42816.50, 44555.80, 43798.12, 46365.40, 45585.03, 45593.64, 44428.29, 47793.32, 47096.95, 47047.00, 46004.48, 44695.36, 44801.19, 46717.58, 49339.18, 48905.49, 49321.65, 49546.15, 47706.12, 48960.79, 46942.22, 49058.67, 48902.40, 48829.83, 47054.98, 47166.69, 48847.03.
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[Bitcoin Technical Analysis for 2021-09-01]
Volume: 39139399125, RSI (14-day): 59.08, 50-day EMA: 43783.75, 200-day EMA: 40659.56
[Wider Market Context]
Gold Price: 1813.10, Gold RSI: 56.83
Oil Price: 68.59, Oil RSI: 50.71
[Recent News (last 7 days)]
CarMax (KMX) Dips More Than Broader Markets: What You Should Know: CarMax (KMX) closed the most recent trading day at $125.21, moving -1.01% from the previous trading session. This change lagged the S&P 500's 0.14% loss on the day. Coming into today, shares of the used car dealership chain had lost 7.33% in the past month. In that same time, the Retail-Wholesale sector gained 0.11%, while the S&P 500 gained 3.13%. KMX will be looking to display strength as it nears its next earnings release, which is expected to be September 30, 2021. On that day, KMX is projected to report earnings of $1.80 per share, which would represent year-over-year growth of 0.56%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.61 billion, up 23.01% from the year-ago period. For the full year, our Zacks Consensus Estimates are projecting earnings of $7.10 per share and revenue of $26.44 billion, which would represent changes of +57.08% and +39.54%, respectively, from the prior year. Investors might also notice recent changes to analyst estimates for KMX. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook. Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system. The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 5.58% higher within the past month. KMX is currently a Zacks Rank #2 (Buy). Investors should also note KMX's current valuation metrics, including its Forward P/E ratio of 17.81. This valuation marks a no noticeable deviation compared to its industry's average Forward P/E of 17.81. We can also see that KMX currently has a PEG ratio of 1.03. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Automotive - Retail and Wholesale - Parts industry currently had an average PEG ratio of 1.4 as of yesterday's close. The Automotive - Retail and Wholesale - Parts industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 12, putting it in the top 5% of all 250+ industries. The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. Story continues Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions. Bitcoin, Like the Internet Itself, Could Change Everything Blockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities. Zacks’ has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly. See 3 crypto-related stocks now >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report CarMax, Inc. (KMX): Free Stock Analysis Report To read this article on Zacks.com click here. View comments || CarMax (KMX) Dips More Than Broader Markets: What You Should Know: CarMax (KMX) closed the most recent trading day at $125.21, moving -1.01% from the previous trading session. This change lagged the S&P 500's 0.14% loss on the day.
Coming into today, shares of the used car dealership chain had lost 7.33% in the past month. In that same time, the Retail-Wholesale sector gained 0.11%, while the S&P 500 gained 3.13%.
KMX will be looking to display strength as it nears its next earnings release, which is expected to be September 30, 2021. On that day, KMX is projected to report earnings of $1.80 per share, which would represent year-over-year growth of 0.56%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.61 billion, up 23.01% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $7.10 per share and revenue of $26.44 billion, which would represent changes of +57.08% and +39.54%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for KMX. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 5.58% higher within the past month. KMX is currently a Zacks Rank #2 (Buy).
Investors should also note KMX's current valuation metrics, including its Forward P/E ratio of 17.81. This valuation marks a no noticeable deviation compared to its industry's average Forward P/E of 17.81.
We can also see that KMX currently has a PEG ratio of 1.03. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Automotive - Retail and Wholesale - Parts industry currently had an average PEG ratio of 1.4 as of yesterday's close.
The Automotive - Retail and Wholesale - Parts industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 12, putting it in the top 5% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
Bitcoin, Like the Internet Itself, Could Change Everything
Blockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities.
Zacks’ has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly.
See 3 crypto-related stocks now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportCarMax, Inc. (KMX): Free Stock Analysis ReportTo read this article on Zacks.com click here. || Southern Copper (SCCO) Dips More Than Broader Markets: What You Should Know: In the latest trading session, Southern Copper (SCCO) closed at $62.59, marking a -0.71% move from the previous day. This move lagged the S&P 500's daily loss of 0.14%. Heading into today, shares of the miner had lost 2.45% over the past month, outpacing the Basic Materials sector's loss of 2.8% and lagging the S&P 500's gain of 3.13% in that time. Investors will be hoping for strength from SCCO as it approaches its next earnings release. The company is expected to report EPS of $1.15, up 76.92% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $2.88 billion, up 35.25% from the year-ago period. Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.65 per share and revenue of $11.11 billion. These totals would mark changes of +129.06% and +39.09%, respectively, from last year. It is also important to note the recent changes to analyst estimates for SCCO. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook. Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model. The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.57% lower within the past month. SCCO is holding a Zacks Rank of #3 (Hold) right now. Looking at its valuation, SCCO is holding a Forward P/E ratio of 13.56. This valuation marks a premium compared to its industry's average Forward P/E of 12.69. Story continues We can also see that SCCO currently has a PEG ratio of 0.81. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Mining - Non Ferrous industry currently had an average PEG ratio of 0.81 as of yesterday's close. The Mining - Non Ferrous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 180, which puts it in the bottom 30% of all 250+ industries. The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com. Bitcoin, Like the Internet Itself, Could Change Everything Blockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. Some call it the Internet of Money and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree were still in the early stages of this technology, and as it grows, it will create several investing opportunities. Zacks has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly. See 3 crypto-related stocks now >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Southern Copper Corporation (SCCO): Free Stock Analysis Report To read this article on Zacks.com click here. || Southern Copper (SCCO) Dips More Than Broader Markets: What You Should Know: In the latest trading session, Southern Copper (SCCO) closed at $62.59, marking a -0.71% move from the previous day. This move lagged the S&P 500's daily loss of 0.14%. Heading into today, shares of the miner had lost 2.45% over the past month, outpacing the Basic Materials sector's loss of 2.8% and lagging the S&P 500's gain of 3.13% in that time. Investors will be hoping for strength from SCCO as it approaches its next earnings release. The company is expected to report EPS of $1.15, up 76.92% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $2.88 billion, up 35.25% from the year-ago period. Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.65 per share and revenue of $11.11 billion. These totals would mark changes of +129.06% and +39.09%, respectively, from last year. It is also important to note the recent changes to analyst estimates for SCCO. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook. Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model. The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.57% lower within the past month. SCCO is holding a Zacks Rank of #3 (Hold) right now. Looking at its valuation, SCCO is holding a Forward P/E ratio of 13.56. This valuation marks a premium compared to its industry's average Forward P/E of 12.69. Story continues We can also see that SCCO currently has a PEG ratio of 0.81. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Mining - Non Ferrous industry currently had an average PEG ratio of 0.81 as of yesterday's close. The Mining - Non Ferrous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 180, which puts it in the bottom 30% of all 250+ industries. The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com. Bitcoin, Like the Internet Itself, Could Change Everything Blockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. Some call it the Internet of Money and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree were still in the early stages of this technology, and as it grows, it will create several investing opportunities. Zacks has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly. See 3 crypto-related stocks now >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Southern Copper Corporation (SCCO): Free Stock Analysis Report To read this article on Zacks.com click here. || 2 Tech Stocks to Buy Now at Big Discounts in September and Beyond: Today’s episode of Full Court Finance at Zacks dives into the broader market as we head into September. The bullish outlook remains in place despite various concerns and all three major U.S. indexes are trading right near their all-time highs. Given this backdrop, investors might want to consider buying two highly-ranked technology stocks trading at huge discounts at the moment.
All three major U.S. indexes slipped through early afternoon trading Tuesday. Despite the dip on the last day of August, the Dow, the S&P 500, and the Nasdaq all remain on track to post solid monthly gains. The market reacted positively to Jerome Powell’s speech late last week that continued his dovish tone on interest rates, even though the central bank is planning to scale back its bond purchases at some point later this year.
Wall Street also appeared pleased the FDA gave the Pfizer Covid-19 vaccine full approval, which many hope will encourage more people to get the vaccine. Plus, weekly jobless claims are hovering at their lowest levels since March 2020, despite delta variant worries. On top of that, the overall earnings picture continues to improve.
The market could experience some near-term selling given the solid run since the mid-July pullback. Luckily, the interest rate environment will continue to favor stocks for the foreseeable future even when the Fed finally raises rates.
Tech and growth names benefit even more from low rates, which means now is still a great time for long-term investors to buy. And why not consider scooping up two strong growth-focused technology stocks trading well over 20% below their records even as the Nasdaq sits at new heights.
PinterestPINS, which lands a Zacks Rank #2 (Buy), got crushed after its Q2 earnings release on the back of a sequential decline in monthly active users. Luckily, its average revenue per user still climbed, as the decline marked a loss of more casual web browser users.
The visual discovery platform is set to thrive in the modern digital ad age and it’s a hit with advertisers, small businesses, entrepreneurs, and do-it-yourself enthusiasts. And unlike some of Facebook’sFBplatforms, many users go to Pinterest to find purchase inspiration.
RokuROKUis a Zacks Rank #1 (Strong Buy) that tumbled following its second quarter release in early August amid a slowdown in streaming hours. The stock also became a victim of its own success.
Despite the setbacks, the streaming TV company and its booming ad business stand to grow for years no matter who has the most subscribers or the hottest show in the fight between NetflixNFLX, DisneyDIS, AppleAAPL, and countless others.
Bitcoin, Like the Internet Itself, Could Change Everything
Blockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities.
Zacks’ has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly.
See 3 crypto-related stocks now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportApple Inc. (AAPL): Free Stock Analysis ReportNetflix, Inc. (NFLX): Free Stock Analysis ReportThe Walt Disney Company (DIS): Free Stock Analysis ReportFacebook, Inc. (FB): Free Stock Analysis ReportRoku, Inc. (ROKU): Free Stock Analysis ReportPinterest, Inc. (PINS): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research || 2 Tech Stocks to Buy Now at Big Discounts in September and Beyond: Today’s episode of Full Court Finance at Zacks dives into the broader market as we head into September. The bullish outlook remains in place despite various concerns and all three major U.S. indexes are trading right near their all-time highs. Given this backdrop, investors might want to consider buying two highly-ranked technology stocks trading at huge discounts at the moment. All three major U.S. indexes slipped through early afternoon trading Tuesday. Despite the dip on the last day of August, the Dow, the S&P 500, and the Nasdaq all remain on track to post solid monthly gains. The market reacted positively to Jerome Powell’s speech late last week that continued his dovish tone on interest rates, even though the central bank is planning to scale back its bond purchases at some point later this year. Wall Street also appeared pleased the FDA gave the Pfizer Covid-19 vaccine full approval, which many hope will encourage more people to get the vaccine. Plus, weekly jobless claims are hovering at their lowest levels since March 2020, despite delta variant worries. On top of that, the overall earnings picture continues to improve. The market could experience some near-term selling given the solid run since the mid-July pullback. Luckily, the interest rate environment will continue to favor stocks for the foreseeable future even when the Fed finally raises rates. Tech and growth names benefit even more from low rates, which means now is still a great time for long-term investors to buy. And why not consider scooping up two strong growth-focused technology stocks trading well over 20% below their records even as the Nasdaq sits at new heights. Pinterest PINS , which lands a Zacks Rank #2 (Buy), got crushed after its Q2 earnings release on the back of a sequential decline in monthly active users. Luckily, its average revenue per user still climbed, as the decline marked a loss of more casual web browser users. The visual discovery platform is set to thrive in the modern digital ad age and it’s a hit with advertisers, small businesses, entrepreneurs, and do-it-yourself enthusiasts. And unlike some of Facebook’s FB platforms, many users go to Pinterest to find purchase inspiration. Story continues Roku ROKU is a Zacks Rank #1 (Strong Buy) that tumbled following its second quarter release in early August amid a slowdown in streaming hours. The stock also became a victim of its own success. Despite the setbacks, the streaming TV company and its booming ad business stand to grow for years no matter who has the most subscribers or the hottest show in the fight between Netflix NFLX , Disney DIS , Apple AAPL , and countless others. Bitcoin, Like the Internet Itself, Could Change Everything Blockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities. Zacks’ has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly. See 3 crypto-related stocks now >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Apple Inc. (AAPL): Free Stock Analysis Report Netflix, Inc. (NFLX): Free Stock Analysis Report The Walt Disney Company (DIS): Free Stock Analysis Report Facebook, Inc. (FB): Free Stock Analysis Report Roku, Inc. (ROKU): Free Stock Analysis Report Pinterest, Inc. (PINS): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research || Fernando Martinelli, Balancer Labs CEO, on How DeFi is Turning Traditional Finance on Its Head: There is rarely a day thatBitcoinis not in the news. However, Bitcoin, which set the ball rolling for cryptos as we know them today, comes with its own set of issues. For instance, due to its unpredictable volatility it cannot effectively serve as a means of exchange. For instance, if you go into a shop and buy a newspaper with Bitcoin, one day that newspaper might cost you $1, the next day, the same newspaper could cost you $10. That is not practical.
Q2 2021 hedge fund letters, conferences and more
The crypto market is extremely volatile. As we’ve seen prices can skyrocket and drop overnight,sometimes as much as 10%. However, blockchain innovation is moving unwaveringly forward, with key drivers such as traditional finance adoption of blockchain technology,dAppsoffering greater financial rewards, Automated Market Makers, and the growth of NFTs and DeFi tokens. DeFi could realistically pose a complete new system of banking and savings that could overhaul our current system due to its very nature of being human proof and tamper-proof.
We are just at the beginning ofDeFi, the market is still immature and is evolving rapidly. There’s no doubt that the interest is there, with all the major banking institutions opening desks and funds to cater for their clients. There is money to back that interest. Roughly$82 billion is locked in DeFiat this point, and this creates an incredible opportunity for projects to expand. The innovation is there as well. Take Balancer, for example. Balancer Labs supports the ongoing development of Balancer Protocol, which aims to become the leading platform for programmable liquidity.
Balancer Protocolallows for automatedportfolio managementand provides liquidity to the crypto markets by turning the concept of an index fund on its head: instead of paying fees to portfolio managers, you collect fees from traders who rebalance your portfolio by following arbitrage opportunities. Developers leverage Balancer as a permissionless building block to innovate freely and create new treasury management systems. Balancer Lab’s mission is to become the primary source of DeFi liquidity by providing the most flexible and powerful platform for asset management and decentralized exchange.
We asked Fernando Martinelli, the CEO of Balancer Labs, how they are innovating in this space: “Balancer Labs is a small yet agile internal team of almost 30, with a strong community supporting our greater mission. In less than a year, we’ve launched V2, built new Pools to further liquidity, and partnered with successful protocols to help scale Defi.”
So what led him into the crypto arena? “When I first heard of Bitcoin in late 2012 I first thought it was a ponzi scheme. Then I looked into it again and soon it hit me as a revolutionary technology.”
“However, I always thought that the great volatility would be an impediment for its mass adoption. When the whitepaper ofEthereumcame about, I realized that smart contracts could be the answer for stable coins. This led me to working closely with the MakerDao team in their very early days. Eventually the MakerDao community was key for Balancer to come together, with Nikolai Mushegian (co-founder of Maker) andMike McDonald(creator of mkr.tools) playing a central role in Balancer Protocol.”
You will come to hear a lot more about liquidity pools as they are foundational in the current DeFi ecosystem and are used to facilitate decentralized trading and lending. They are an essential part of automated market makers such as Balancer.
Martinelli told us “A single liquidity pool holds two tokens, and each pool creates a new market for that particular pair of tokens. WBTC/WETH can be a good example. When a new pool is created, the first liquidity provider sets the initial price of the assets in the pool. Liquidity providers add an equal value of two tokens in a pool to create a market. In exchange for providing their funds, they earn trading fees from the trades in their pool. As an incentive, when liquidity is supplied to a pool, the liquidity provider receives special tokens called LP tokens equal to the amount of liquidity they supplied to the pool. For Balancer Protocol, liquidity providers receive BAL tokens. If the initial price of the tokens in the pool changes from the current market price, it creates an arbitrage opportunity. “
So how can the blockchain enhance automated trading? “Blockchain technology introduced transparent pricing, new alternative markets, faster payments, and permanent transaction recordkeeping. Balancer Protocol is enabling people to trade for lower costs and at faster speeds than ever before.”
Balancer has been busy. They recently launched version 2.0 of their Automated Market Maker. V2 which offers a generalized protocol forAMMsoperating within DeFi, and all pools managed by Balancer are administered from a single vault. V2 reduces Ethereum gas fees for end-users and introduces the option for external smart contracts (called asset managers) to put the underlying tokens of a liquidity pool to use also elsewhere in DeFi.
Martinelli said, “As we transition to a protocol phase, our main focus is on providing useful liquidity. Aggregators and wallets have to spend a considerable effort on each new integration, so naturally, the protocols that facilitate meaningful liquidity and volume will be prioritized. As our protocol becomes more decentralized, so is the process of deploying the Ecosystem Fund, the Balancer Grants Committee was implemented. In this highly competitive space, teams building on top of Balancer as well as engaged community members should be generously rewarded with a stake in the protocol.”
Central Banks have been sniffing around the area of crypto for a while. While bitcoin is too unstable to pose a threat,stablecoinshave certainly come to their attention, with many central banks proposing or planning their own Central Bank Digital Currencies. They have the ability to regulate or even block cryptos. We asked Martinelli if they pose an obstacle to what he is doing in DeFi or is there a way the two worlds can live in harmony?
“As of now, Central Banks do not pose an obstacle to Balancer. Our mission is to become the ultimate flexible Automated Market Maker. We hope to continue pioneering innovation in the DeFi space, and as the industry scales, I believe traditional finance will adopt this technology.”
Balancer is working on collaborating with teams and protocols to help scale access to DeFi and focus on user experience. Martinelli told us “Balancer protocol is transitioning from a product phase to a protocol phase. Its long-term success will be the success of what’s built on top of it.”
Crypto has reached a state of mass adoption, and DeFi is well on its way to the same. As the existing protocols grow and get better, this arena gives investors a safe alternative to investing, often with opportunities that are unavailable in the traditional financial markets. || Fernando Martinelli, Balancer Labs CEO, on How DeFi is Turning Traditional Finance on Its Head: There is rarely a day that Bitcoin is not in the news. However, Bitcoin, which set the ball rolling for cryptos as we know them today, comes with its own set of issues. For instance, due to its unpredictable volatility it cannot effectively serve as a means of exchange. For instance, if you go into a shop and buy a newspaper with Bitcoin, one day that newspaper might cost you $1, the next day, the same newspaper could cost you $10. That is not practical. Q2 2021 hedge fund letters, conferences and more The crypto market is extremely volatile. As we’ve seen prices can skyrocket and drop overnight, sometimes as much as 10% . However, blockchain innovation is moving unwaveringly forward, with key drivers such as traditional finance adoption of blockchain technology, dApps offering greater financial rewards, Automated Market Makers, and the growth of NFTs and DeFi tokens. DeFi could realistically pose a complete new system of banking and savings that could overhaul our current system due to its very nature of being human proof and tamper-proof. We are just at the beginning of DeFi , the market is still immature and is evolving rapidly. There’s no doubt that the interest is there, with all the major banking institutions opening desks and funds to cater for their clients. There is money to back that interest. Roughly $82 billion is locked in DeFi at this point, and this creates an incredible opportunity for projects to expand. The innovation is there as well. Take Balancer, for example. Balancer Labs supports the ongoing development of Balancer Protocol, which aims to become the leading platform for programmable liquidity. AMMs And Liquidity In Crypto Balancer Protocol allows for automated portfolio management and provides liquidity to the crypto markets by turning the concept of an index fund on its head: instead of paying fees to portfolio managers, you collect fees from traders who rebalance your portfolio by following arbitrage opportunities. Developers leverage Balancer as a permissionless building block to innovate freely and create new treasury management systems. Balancer Lab’s mission is to become the primary source of DeFi liquidity by providing the most flexible and powerful platform for asset management and decentralized exchange. Story continues We asked Fernando Martinelli, the CEO of Balancer Labs, how they are innovating in this space: “Balancer Labs is a small yet agile internal team of almost 30, with a strong community supporting our greater mission. In less than a year, we’ve launched V2, built new Pools to further liquidity, and partnered with successful protocols to help scale Defi.” So what led him into the crypto arena? “When I first heard of Bitcoin in late 2012 I first thought it was a ponzi scheme. Then I looked into it again and soon it hit me as a revolutionary technology.” “However, I always thought that the great volatility would be an impediment for its mass adoption. When the whitepaper of Ethereum came about, I realized that smart contracts could be the answer for stable coins. This led me to working closely with the MakerDao team in their very early days. Eventually the MakerDao community was key for Balancer to come together, with Nikolai Mushegian (co-founder of Maker) and Mike McDonald (creator of mkr.tools) playing a central role in Balancer Protocol.” Liquidity Pools Role In The DeFi Ecosystem You will come to hear a lot more about liquidity pools as they are foundational in the current DeFi ecosystem and are used to facilitate decentralized trading and lending. They are an essential part of automated market makers such as Balancer. Martinelli told us “A single liquidity pool holds two tokens, and each pool creates a new market for that particular pair of tokens. WBTC/WETH can be a good example. When a new pool is created, the first liquidity provider sets the initial price of the assets in the pool. Liquidity providers add an equal value of two tokens in a pool to create a market. In exchange for providing their funds, they earn trading fees from the trades in their pool. As an incentive, when liquidity is supplied to a pool, the liquidity provider receives special tokens called LP tokens equal to the amount of liquidity they supplied to the pool. For Balancer Protocol, liquidity providers receive BAL tokens. If the initial price of the tokens in the pool changes from the current market price, it creates an arbitrage opportunity. “ So how can the blockchain enhance automated trading? “Blockchain technology introduced transparent pricing, new alternative markets, faster payments, and permanent transaction recordkeeping. Balancer Protocol is enabling people to trade for lower costs and at faster speeds than ever before.” Balancer has been busy. They recently launched version 2.0 of their Automated Market Maker. V2 which offers a generalized protocol for AMMs operating within DeFi, and all pools managed by Balancer are administered from a single vault. V2 reduces Ethereum gas fees for end-users and introduces the option for external smart contracts (called asset managers) to put the underlying tokens of a liquidity pool to use also elsewhere in DeFi. Martinelli said, “As we transition to a protocol phase, our main focus is on providing useful liquidity. Aggregators and wallets have to spend a considerable effort on each new integration, so naturally, the protocols that facilitate meaningful liquidity and volume will be prioritized. As our protocol becomes more decentralized, so is the process of deploying the Ecosystem Fund, the Balancer Grants Committee was implemented. In this highly competitive space, teams building on top of Balancer as well as engaged community members should be generously rewarded with a stake in the protocol.” Central Banks And DeFi Central Banks have been sniffing around the area of crypto for a while. While bitcoin is too unstable to pose a threat, stablecoins have certainly come to their attention, with many central banks proposing or planning their own Central Bank Digital Currencies. They have the ability to regulate or even block cryptos. We asked Martinelli if they pose an obstacle to what he is doing in DeFi or is there a way the two worlds can live in harmony? “As of now, Central Banks do not pose an obstacle to Balancer. Our mission is to become the ultimate flexible Automated Market Maker. We hope to continue pioneering innovation in the DeFi space, and as the industry scales, I believe traditional finance will adopt this technology.” Balancer is working on collaborating with teams and protocols to help scale access to DeFi and focus on user experience. Martinelli told us “Balancer protocol is transitioning from a product phase to a protocol phase. Its long-term success will be the success of what’s built on top of it.” Crypto has reached a state of mass adoption, and DeFi is well on its way to the same. As the existing protocols grow and get better, this arena gives investors a safe alternative to investing, often with opportunities that are unavailable in the traditional financial markets. || Cybersecurity ETFs' Shifting Fortunes: On Aug. 25, President Biden hosted a meeting with private sector executives to discuss national cybersecurity, referring to the issue as “the core national security challenge we are facing.”
Ransomware attacks have had serious economic effects such as forcing the shutdown of a major U.S. fuel pipeline in May. That particular event disrupted the fuel supply to the East Coast for days, with many gas stations running out of fuel.
The pipeline security breach was far from the first notable story, however. In fact, nearly seven years ago, the breach of film studio Sony Pictures ended up being advantageous for one cybersecurity-focused ETF that had just launched a few weeks prior.
Breaches Benefit AUM
TheETFMG Prime Cyber Security ETF (HACK)was the first ETF on the market to focus on cybersecurity. The ETF launched on Nov. 11, 2014. Less than two weeks later, a hacker group called “Guardians of Peace” leaked confidential info from Sony Pictures. The data included confidential emails, social security numbers and other personal information.
Within its first year of existence, HACK saw net flows of over $1 billion.
Chart courtesy of FactSet
(For a larger view, click on the image above)
A large portion of these flows came from yet another data breach that occurred in early June 2015. If you use the ETF.comETF Fund Flows Tool, you can see that HACK pulled in net inflows as high as $171 million in a single day.
Chart courtesy of FactSet
(For a larger view, click on the image above)
Later in June 2015, the U.S. Office of Personnel Management (OPM) announced it had been the target of a data breach involving personnel records related to government employees and their friends and family. It was one of the largest breaches of government data in U.S. history.
In its first year of trading, HACK only outperformed theSPDR S&P 500 ETF Trust (SPY)by 0.8%. However, HACK had been outperforming SPY by as much as 28.4% in June 2015.
Chart courtesy ofStockCharts.com
First Trust Enters The Fray
Not long after the OPM breach came to light, theFirst Trust NASDAQ Cybersecurity ETF (CIBR)came to market. This fund has since become the largest cybersecurity ETF, with $4.8 billion in assets under management as compared to $2.4 billion for HACK.
Though several other entrants have since launched ETFs focused on thecybersecurity space, HACK and CIBR are the only two that hold more than $1 billion in assets.
When it comes to cost, neither of these ETFs holds an edge, with both carrying an expense ratio of 0.60%. CIBR is about twice as big, but its average daily volume is nearly 3x that of HACK, leading to a tighter average spread.
Chart courtesy of FactSet
(For a larger view, click on the image above)
Comparing Construction
CIBR is a more concentrated portfolio than HACK, with fewer holdings and a more significant concentration in the top 10. Between the two portfolios, five names show up as top holdings in both CIBR and HACK.
Chart courtesy of FactSet
(For a larger view, click on the image above)
Performance between these two ETFs has mainly tracked in line over the trailing three years until recently, when CIBR has started to pull away.
Chart courtesy ofStockCharts.com
In particular, CIBR’s concentration in a few names has helped boost recent performance over that of HACK. The largest holding, Zscaler., has risen by 95% over the trailing year, while CrowdStrike, its second largest holding, is up 142% over the same time frame. Both names are also held within HACK’s portfolio, but at smaller weights.
Legal Issues At Play
Though performance could be the reason for CIBR’s place at the top of the field, legal issues have befallen HACK over the last several years.
In December 2019, ETF Managers Group was ordered to pay $80 million to Nasdaq in a dispute over control of several ETFs, including HACK. The judgment was the culmination of a years-long battle over who was entitled to the profits from these ETFs.
In May 2020, Nasdaq and ETF Managers Group announced plans to settle their dispute over these funds. The two entities agreed that ETFMG would no longer maintain control over the funds. The funds would be reorganized under Exchange Traded Concepts, pending shareholder approval. (Read: Nasdaq Settles ETF Legal Fight Over ‘HACK’)
As of the writing of this article, ETF Managers Group still retains control over the HACK ETF, likely due to not enough shareholders having cast their votes on the reorganization.
Launching just prior to a data breach was a lucky break for HACK, but the prolonged legal battle has helped give CIBR the upper hand for now.
Contact Jessica Ferringer atjessica.ferringer@etf.comor follow her onTwitter
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Permalink| © Copyright 2021ETF.com.All rights reserved || Cybersecurity ETFs' Shifting Fortunes: On Aug. 25, President Biden hosted a meeting with private sector executives to discuss national cybersecurity, referring to the issue as the core national security challenge we are facing. Ransomware attacks have had serious economic effects such as forcing the shutdown of a major U.S. fuel pipeline in May. That particular event disrupted the fuel supply to the East Coast for days, with many gas stations running out of fuel. The pipeline security breach was far from the first notable story, however. In fact, nearly seven years ago, the breach of film studio Sony Pictures ended up being advantageous for one cybersecurity-focused ETF that had just launched a few weeks prior. Breaches Benefit AUM The ETFMG Prime Cyber Security ETF (HACK) was the first ETF on the market to focus on cybersecurity. The ETF launched on Nov. 11, 2014. Less than two weeks later, a hacker group called Guardians of Peace leaked confidential info from Sony Pictures. The data included confidential emails, social security numbers and other personal information. Within its first year of existence, HACK saw net flows of over $1 billion. Pop-up Image Chart courtesy of FactSet (For a larger view, click on the image above) A large portion of these flows came from yet another data breach that occurred in early June 2015. If you use the ETF.com ETF Fund Flows Tool , you can see that HACK pulled in net inflows as high as $171 million in a single day. HACK Flows Chart courtesy of FactSet (For a larger view, click on the image above) Later in June 2015, the U.S. Office of Personnel Management (OPM) announced it had been the target of a data breach involving personnel records related to government employees and their friends and family. It was one of the largest breaches of government data in U.S. history. In its first year of trading, HACK only outperformed the SPDR S&P 500 ETF Trust (SPY) by 0.8%. However, HACK had been outperforming SPY by as much as 28.4% in June 2015. Chart courtesy of StockCharts.com First Trust Enters The Fray Not long after the OPM breach came to light, the First Trust NASDAQ Cybersecurity ETF (CIBR) came to market. This fund has since become the largest cybersecurity ETF, with $4.8 billion in assets under management as compared to $2.4 billion for HACK. Though several other entrants have since launched ETFs focused on the cybersecurity space , HACK and CIBR are the only two that hold more than $1 billion in assets. When it comes to cost, neither of these ETFs holds an edge, with both carrying an expense ratio of 0.60%. CIBR is about twice as big, but its average daily volume is nearly 3x that of HACK, leading to a tighter average spread. Story continues Cost HACK Chart courtesy of FactSet (For a larger view, click on the image above) Comparing Construction CIBR is a more concentrated portfolio than HACK, with fewer holdings and a more significant concentration in the top 10. Between the two portfolios, five names show up as top holdings in both CIBR and HACK. HACK CIBR Chart courtesy of FactSet (For a larger view, click on the image above) Performance between these two ETFs has mainly tracked in line over the trailing three years until recently, when CIBR has started to pull away. Chart courtesy of StockCharts.com In particular, CIBRs concentration in a few names has helped boost recent performance over that of HACK. The largest holding, Zscaler., has risen by 95% over the trailing year, while CrowdStrike, its second largest holding, is up 142% over the same time frame. Both names are also held within HACKs portfolio, but at smaller weights. Legal Issues At Play Though performance could be the reason for CIBRs place at the top of the field, legal issues have befallen HACK over the last several years. In December 2019, ETF Managers Group was ordered to pay $80 million to Nasdaq in a dispute over control of several ETFs, including HACK. The judgment was the culmination of a years-long battle over who was entitled to the profits from these ETFs. In May 2020, Nasdaq and ETF Managers Group announced plans to settle their dispute over these funds. The two entities agreed that ETFMG would no longer maintain control over the funds. The funds would be reorganized under Exchange Traded Concepts, pending shareholder approval. ( Read: Nasdaq Settles ETF Legal Fight Over HACK ) As of the writing of this article, ETF Managers Group still retains control over the HACK ETF, likely due to not enough shareholders having cast their votes on the reorganization. Launching just prior to a data breach was a lucky break for HACK, but the prolonged legal battle has helped give CIBR the upper hand for now. Contact Jessica Ferringer at jessica.ferringer@etf.com or follow her on Twitter Recommended Stories ETF Battles: SOXX Vs SMH Vs PSI Vs XSD Hot Reads: ARK Out Of ETF Issuer Top 10 Hot Reads: ARK Targets Canadian Bitcoin ETFs ETF Inflows Continue Amid S&P 500 Losing Streak Permalink | © Copyright 2021 ETF.com. All rights reserved View comments || Investors Start Showing Interest In Other Cryptocurrencies After Bitcoin And Ethereum's Volatility: Bitcoin(CRYPTO: BTC) andEthereum(CRYPTO: ETH) rallied, but their gains were eclipsed by those made by less well-known cryptocurrencies with much slower market caps.
What Happened:According to a recent Fortunereport, many minor tokens rode the waves made by Bitcoin and Ethereum well enough to rake in higher gains than those behemoths.
Cardano(CRYPTO: ADA) doubled this month,Binance Coin(CRYPTO: BNB) also rallied significantly, whileAvalanche(CRYPTO: AVAX) tripled in August.
Read also:What is Avalanche?
Fortune also cited the nonfungible tokens (NFT) market's rise, which had the value of many tokens quadruple in just days.
Some analysts suggest that minor assets such as the aforementioned ones skyrocketing is a consequence of speculators "moving from the mainstays to newer, more exciting offshoots, as they often do after big runs."
Other analysts also highlight that lots of cash in circulation and ultra-low rates push investors to "ever-wonkier assets."
What Else:Despite that, the report admits some assets such asCardano(CRYPTO: ADA) andSolana(CRYPTO: SOL) are backed by actually strong fundamentals and technological advances.
Founder and CEO of online exchange eToro Yoni Assia highlighted that "there’s a lot of excitement in crypto," and the firm has "seen a lot of exuberance in the market.”
Read also:What is Solana?
Assia views rock-bottom interest rates worldwide, a massive fiscal stimulus, and inflation as the driving forces behind this rise.
Chief Market Strategist at JonesTrading Michael O’Rourke echoed that sentiment, noting that "with all of this money floating around, we should not be surprised that there are people paying exorbitant amounts of money for digital pet rocks."
See more from Benzinga
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• El Salvador Adopting Bitcoin Is "An Inadvisable Shortcut": International Monetary Fund
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Investors Start Showing Interest In Other Cryptocurrencies After Bitcoin And Ethereum's Volatility: Bitcoin(CRYPTO: BTC) andEthereum(CRYPTO: ETH) rallied, but their gains were eclipsed by those made by less well-known cryptocurrencies with much slower market caps.
What Happened:According to a recent Fortunereport, many minor tokens rode the waves made by Bitcoin and Ethereum well enough to rake in higher gains than those behemoths.
Cardano(CRYPTO: ADA) doubled this month,Binance Coin(CRYPTO: BNB) also rallied significantly, whileAvalanche(CRYPTO: AVAX) tripled in August.
Read also:What is Avalanche?
Fortune also cited the nonfungible tokens (NFT) market's rise, which had the value of many tokens quadruple in just days.
Some analysts suggest that minor assets such as the aforementioned ones skyrocketing is a consequence of speculators "moving from the mainstays to newer, more exciting offshoots, as they often do after big runs."
Other analysts also highlight that lots of cash in circulation and ultra-low rates push investors to "ever-wonkier assets."
What Else:Despite that, the report admits some assets such asCardano(CRYPTO: ADA) andSolana(CRYPTO: SOL) are backed by actually strong fundamentals and technological advances.
Founder and CEO of online exchange eToro Yoni Assia highlighted that "there’s a lot of excitement in crypto," and the firm has "seen a lot of exuberance in the market.”
Read also:What is Solana?
Assia views rock-bottom interest rates worldwide, a massive fiscal stimulus, and inflation as the driving forces behind this rise.
Chief Market Strategist at JonesTrading Michael O’Rourke echoed that sentiment, noting that "with all of this money floating around, we should not be surprised that there are people paying exorbitant amounts of money for digital pet rocks."
See more from Benzinga
• Click here for options trades from Benzinga
• SEC To Monitor DeFi With Artificial Intelligence
• El Salvador Adopting Bitcoin Is "An Inadvisable Shortcut": International Monetary Fund
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Investors Start Showing Interest In Other Cryptocurrencies After Bitcoin And Ethereum's Volatility: Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) rallied, but their gains were eclipsed by those made by less well-known cryptocurrencies with much slower market caps. What Happened: According to a recent Fortune report , many minor tokens rode the waves made by Bitcoin and Ethereum well enough to rake in higher gains than those behemoths. Cardano (CRYPTO: ADA) doubled this month, Binance Coin (CRYPTO: BNB) also rallied significantly, while Avalanche (CRYPTO: AVAX) tripled in August. Read also: What is Avalanche? Fortune also cited the nonfungible tokens (NFT) market's rise, which had the value of many tokens quadruple in just days. Some analysts suggest that minor assets such as the aforementioned ones skyrocketing is a consequence of speculators "moving from the mainstays to newer, more exciting offshoots, as they often do after big runs." Other analysts also highlight that lots of cash in circulation and ultra-low rates push investors to "ever-wonkier assets." What Else: Despite that, the report admits some assets such as Cardano (CRYPTO: ADA) and Solana (CRYPTO: SOL) are backed by actually strong fundamentals and technological advances. Founder and CEO of online exchange eToro Yoni Assia highlighted that "there’s a lot of excitement in crypto," and the firm has "seen a lot of exuberance in the market.” Read also: What is Solana? Assia views rock-bottom interest rates worldwide, a massive fiscal stimulus, and inflation as the driving forces behind this rise. Chief Market Strategist at JonesTrading Michael O’Rourke echoed that sentiment, noting that "with all of this money floating around, we should not be surprised that there are people paying exorbitant amounts of money for digital pet rocks." See more from Benzinga Click here for options trades from Benzinga SEC To Monitor DeFi With Artificial Intelligence El Salvador Adopting Bitcoin Is "An Inadvisable Shortcut": International Monetary Fund © 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Analysts Estimate Coupa Software (COUP) to Report a Decline in Earnings: What to Look Out for: Coupa Software (COUP) is expected to deliver a year-over-year decline in earnings on higher revenues when it reports results for the quarter ended July 2021. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.
The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on September 7. On the other hand, if they miss, the stock may move lower.
While the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of business conditions on the earnings call, it's worth handicapping the probability of a positive EPS surprise.
Zacks Consensus Estimate
This company is expected to post quarterly loss of $0.07 per share in its upcoming report, which represents a year-over-year change of -133.3%.
Revenues are expected to be $162.45 million, up 29% from the year-ago quarter.
Estimate Revisions Trend
The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.
Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts.
Price, Consensus and EPS Surprise
Earnings Whisper
Estimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model -- the ZacksEarnings ESP(Expected Surprise Prediction).
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.
A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination producea positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.
Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).
How Have the Numbers Shaped Up for Coupa Software?
For Coupa Software, the Most Accurate Estimate is the same as the Zacks Consensus Estimate, suggesting that there are no recent analyst views which differ from what have been considered to derive the consensus estimate. This has resulted in an Earnings ESP of 0%.
On the other hand, the stock currently carries a Zacks Rank of #3.
So, this combination makes it difficult to conclusively predict that Coupa Software will beat the consensus EPS estimate.
Does Earnings Surprise History Hold Any Clue?
While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.
For the last reported quarter, it was expected that Coupa Software would post a loss of $0.19 per share when it actually produced earnings of $0.07, delivering a surprise of +136.84%.
Over the last four quarters, the company has beaten consensus EPS estimates four times.
Bottom Line
An earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.
That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize ourEarnings ESP Filterto uncover the best stocks to buy or sell before they've reported.
Coupa Software doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.
Bitcoin, Like the Internet Itself, Could Change Everything
Blockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities.
Zacks’ has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly.
See 3 crypto-related stocks now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportCoupa Software, Inc. (COUP): Free Stock Analysis ReportTo read this article on Zacks.com click here. || Analysts Estimate Casey's General Stores (CASY) to Report a Decline in Earnings: What to Look Out for: Wall Street expects a year-over-year decline in earnings on higher revenues when Casey's General Stores (CASY) reports results for the quarter ended July 2021. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.
The earnings report, which is expected to be released on September 7, 2021, might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower.
While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise.
Zacks Consensus Estimate
This convenience store chain is expected to post quarterly earnings of $2.66 per share in its upcoming report, which represents a year-over-year change of -17.9%.
Revenues are expected to be $3.04 billion, up 44.3% from the year-ago quarter.
Estimate Revisions Trend
The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.
Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change.
Price, Consensus and EPS Surprise
Earnings Whisper
Estimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model -- the ZacksEarnings ESP(Expected Surprise Prediction) -- has this insight at its core.
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.
A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination producea positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.
Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).
How Have the Numbers Shaped Up for Casey's?
For Casey's, the Most Accurate Estimate is the same as the Zacks Consensus Estimate, suggesting that there are no recent analyst views which differ from what have been considered to derive the consensus estimate. This has resulted in an Earnings ESP of 0%.
On the other hand, the stock currently carries a Zacks Rank of #3.
So, this combination makes it difficult to conclusively predict that Casey's will beat the consensus EPS estimate.
Does Earnings Surprise History Hold Any Clue?
While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.
For the last reported quarter, it was expected that Casey's would post earnings of $0.67 per share when it actually produced earnings of $1.12, delivering a surprise of +67.16%.
Over the last four quarters, the company has beaten consensus EPS estimates four times.
Bottom Line
An earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.
That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize ourEarnings ESP Filterto uncover the best stocks to buy or sell before they've reported.
Casey's doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.
Bitcoin, Like the Internet Itself, Could Change Everything
Blockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities.
Zacks’ has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly.
See 3 crypto-related stocks now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportCaseys General Stores, Inc. (CASY): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research || Technical Analyst Expects Bitcoin Bull Market Will Peak In October, Predicts Altcoins Will Triple If BTC Hits $100K: What Happened: Kevin Wadsworth, technical analyst and co-founder of Northstar & Badcharts , has predicted this Bitcoin (CRYPTO: BTC) bull market will reach its peak in October. In an interview with Kitco News on Monday, Wadsworth said he believes that the crypto bull market will likely conclude before the end of the year. All the crypto charts I've been drawing and looking at vary a little bit in timing between the third week of September and some of them perhaps into mid-October or even late October, so there's this sort of four-week window there between late September and late October where I'd be looking for the crypto bull market to reach its peak," he said. Part of this belief comes from the Bitcoin dominance chart, which Wadsworth believes gives a two-week warning to signal the end of the bull market. Read Also: Institutional Investors Now Hold B Of Bitcoin: Report With Bitcoin, perhaps my target is somewhere close to $100,000. Anything above that is a huge bonus, he said. If we get to a $100,000 from here, which would be roughly a double, then Id expect the altcoins, Ethereum and the rest, to triple, quadruple, and some of them even more than that. Price Action: Over the past few weeks, Bitcoin has consolidated between $47,000 and $50,000. The leading digital asset lost 1.13% over the past 24-hours and was trading at a price of $47,320 at the time of writing. Ethereum (CRYPTO: ETH) has gained 40% month-to-date. At press time, the leading altcoin was trading at a price of $3,377, gaining 6.31% over the past 24-hours. See more from Benzinga Click here for options trades from Benzinga Institutions Load Up On M Of ETH, ADA, SOL As BTC Records 8 Consecutive Weeks Of Outflows Bill Miller's Fund Discloses Owning Shares Worth M In Grayscale Bitcoin Trust © 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. View comments || Technical Analyst Expects Bitcoin Bull Market Will Peak In October, Predicts Altcoins Will Triple If BTC Hits $100K: What Happened:Kevin Wadsworth, technical analyst and co-founder ofNorthstar & Badcharts, has predicted thisBitcoin(CRYPTO: BTC) bull market will reach its peak in October.
In an interview withKitco Newson Monday, Wadsworth said he believes that the crypto bull market will likely conclude before the end of the year.
“All the crypto charts I've been drawing and looking at vary a little bit in timing between the third week of September and some of them perhaps into mid-October or even late October, so there's this sort of four-week window there between late September and late October where I'd be looking for the crypto bull market to reach its peak," he said.
Part of this belief comes from the Bitcoin dominance chart, which Wadsworth believes gives a “two-week warning” to signal the end of the bull market.
Read Also:Institutional Investors Now Hold B Of Bitcoin: Report
“With Bitcoin, perhaps my target is somewhere close to $100,000. Anything above that is a huge bonus,” he said.
“If we get to a $100,000 from here, which would be roughly a double, then I’d expect the altcoins, Ethereum and the rest, to triple, quadruple, and some of them even more than that.”
Price Action:Over the past few weeks, Bitcoin has consolidated between $47,000 and $50,000.
The leading digital asset lost 1.13% over the past 24-hours and was trading at a price of $47,320 at the time of writing.
Ethereum(CRYPTO: ETH) has gained 40% month-to-date.
At press time, the leading altcoin was trading at a price of $3,377, gaining 6.31% over the past 24-hours.
See more from Benzinga
• Click here for options trades from Benzinga
• Institutions Load Up On M Of ETH, ADA, SOL As BTC Records 8 Consecutive Weeks Of Outflows
• Bill Miller's Fund Discloses Owning Shares Worth M In Grayscale Bitcoin Trust
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Technical Analyst Expects Bitcoin Bull Market Will Peak In October, Predicts Altcoins Will Triple If BTC Hits $100K: What Happened:Kevin Wadsworth, technical analyst and co-founder ofNorthstar & Badcharts, has predicted thisBitcoin(CRYPTO: BTC) bull market will reach its peak in October.
In an interview withKitco Newson Monday, Wadsworth said he believes that the crypto bull market will likely conclude before the end of the year.
“All the crypto charts I've been drawing and looking at vary a little bit in timing between the third week of September and some of them perhaps into mid-October or even late October, so there's this sort of four-week window there between late September and late October where I'd be looking for the crypto bull market to reach its peak," he said.
Part of this belief comes from the Bitcoin dominance chart, which Wadsworth believes gives a “two-week warning” to signal the end of the bull market.
Read Also:Institutional Investors Now Hold B Of Bitcoin: Report
“With Bitcoin, perhaps my target is somewhere close to $100,000. Anything above that is a huge bonus,” he said.
“If we get to a $100,000 from here, which would be roughly a double, then I’d expect the altcoins, Ethereum and the rest, to triple, quadruple, and some of them even more than that.”
Price Action:Over the past few weeks, Bitcoin has consolidated between $47,000 and $50,000.
The leading digital asset lost 1.13% over the past 24-hours and was trading at a price of $47,320 at the time of writing.
Ethereum(CRYPTO: ETH) has gained 40% month-to-date.
At press time, the leading altcoin was trading at a price of $3,377, gaining 6.31% over the past 24-hours.
See more from Benzinga
• Click here for options trades from Benzinga
• Institutions Load Up On M Of ETH, ADA, SOL As BTC Records 8 Consecutive Weeks Of Outflows
• Bill Miller's Fund Discloses Owning Shares Worth M In Grayscale Bitcoin Trust
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Ida Aftermath Puts These ETF Areas in Focus: The effect of the highly talked-about Hurricane Ida was weaker than feared in Mississippi as its top wind slowed but the level of destruction should not be ignored. Destructive winds and wateralready had a disastrous impactalong the southeast coast of Louisiana.
Ida hit land on the same day 16 years earlier that Hurricane Katrina devastated Louisiana and Mississippi, and its 150 mph winds tagged it as the fifth-strongest hurricane to ever hit the mainland,per the source. The cost of the storm varies from analyst to analyst. Hurricane Ida will likely affect the energy, chemical and shipping industries that have are key hubs along the Gulf Coast, per researchers and analysts.
That said, let’s discuss the key areas that call for attention right now for profits or losses.
With destruction Louisiana and Mississippi, insured losses could be sky high. The analysts estimated that losses for the insurance industry will be around $10 billion from Ida, way lower than the $90 billion-plus from Katrina.
Property and casualty insurance companies may be hit hard as these are likely to shell out handsomely on claims in such catastrophic storms. So, one can expect how heavy the impact on insurance companies would be this time around.iShares US Insurance ETF(IAK)will likely feel the brunt.
Already, shares of property and casualty homeowners’ insurance companies likeUniversal Insurance Holdings Inc.(UVE)andHCI Group Inc.(HCI) lost about 2.6% and 0.4% on Aug 30.Reinsurers XL Group Ltd(XL) andEverest Re Group Ltd.(RE) too retreated about 1.2% and 1.8%, respectively. However, if rates rise in the coming days, insurance companies may get some cushion.
Ida has thumped considerable oil production (nearly 91%) from the Gulf of Mexico and a substantial portion of the U.S. refining capacity. Lower demand from refineries put pressure on crude oil prices and ETFs likeOil Fund LP(USO). However, demand for finished product gasoline rose, benefitingUnited States Gasoline Fund(UGA). As crack spread rose,VanEck Vectors Oil Refiners ETFCRAKgained.
However, Ida may weigh on natural gas futures by cutting demand from power plants, and will likely hurt oil and refined products’ prices by obstructing shipments to the nation’s third-largest gasoline market.
Soybean and Corn prices gained as Hurricane Ida made landfall. The stormy weather has disturbed grain exports in the U.S.’s busiest agricultural port, a problem that could increase further as the peak harvest season approaches.
“Hurricane Ida has done considerable damage in the area around New Orleans and Baton Rouge,” Commonwealth Bank of Australia strategist Tobin Gorey said in a note. “What specific damage has been to U.S. crop export facilities is unclear for now - as is the period of shipping delays”,as quoted on Bloomberg. Needless to say, against this backdrop,Teucrium Corn FundCORNandTeucrium Soybean(SOYB) should be in focus.
Rebuilding of homes and structures are necessary after a hurricane aftermath.Home Depot Inc.(HD) andLowe's Companies Inc.LOWare thus in a bright spot. ETFs likeConsumer Discretionary Select Sector SPDR FundXLYandInvesco Dynamic Building & ConstructionPKBshould also benefit.
Repurchase of cars will gain traction now on higher replacing demand for the damaged vehicles.First Trust NASDAQ Global Auto Index FundCARZcan thus gain ahead.
Bitcoin, Like the Internet Itself, Could Change Everything
Blockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities.
Zacks’ has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly.
See 3 crypto-related stocks now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportLowes Companies, Inc. (LOW): Free Stock Analysis ReportInvesco Dynamic Building & Construction ETF (PKB): ETF Research ReportsFirst Trust NASDAQ Global Auto ETF (CARZ): ETF Research ReportsTeucrium Corn ETF (CORN): ETF Research ReportsVanEck Vectors Oil Refiners ETF (CRAK): ETF Research ReportsTo read this article on Zacks.com click here.Zacks Investment Research || Ida Aftermath Puts These ETF Areas in Focus: The effect of the highly talked-about Hurricane Ida was weaker than feared in Mississippi as its top wind slowed but the level of destruction should not be ignored. Destructive winds and water already had a disastrous impact along the southeast coast of Louisiana. Ida hit land on the same day 16 years earlier that Hurricane Katrina devastated Louisiana and Mississippi, and its 150 mph winds tagged it as the fifth-strongest hurricane to ever hit the mainland, per the source . The cost of the storm varies from analyst to analyst. Hurricane Ida will likely affect the energy, chemical and shipping industries that have are key hubs along the Gulf Coast, per researchers and analysts. That said, let’s discuss the key areas that call for attention right now for profits or losses. Can Insurance Industry Survive the Storm? With destruction Louisiana and Mississippi, insured losses could be sky high. The analysts estimated that losses for the insurance industry will be around $10 billion from Ida, way lower than the $90 billion-plus from Katrina. Property and casualty insurance companies may be hit hard as these are likely to shell out handsomely on claims in such catastrophic storms. So, one can expect how heavy the impact on insurance companies would be this time around. iShares US Insurance ETF ( IAK) will likely feel the brunt. Already, shares of property and casualty homeowners’ insurance companies like Universal Insurance Holdings Inc. ( UVE) and HCI Group Inc. (HCI) lost about 2.6% and 0.4% on Aug 30. Reinsurers XL Group Ltd (XL) and Everest Re Group Ltd. (RE) too retreated about 1.2% and 1.8%, respectively. However, if rates rise in the coming days, insurance companies may get some cushion. Energy Sector Under Focus Ida has thumped considerable oil production ( nearly 91% ) from the Gulf of Mexico and a substantial portion of the U.S. refining capacity. Lower demand from refineries put pressure on crude oil prices and ETFs like Oil Fund LP (USO). However, demand for finished product gasoline rose, benefiting United States Gasoline Fund (UGA). As crack spread rose, VanEck Vectors Oil Refiners ETF CRAK gained. Story continues However, Ida may weigh on natural gas futures by cutting demand from power plants, and will likely hurt oil and refined products’ prices by obstructing shipments to the nation’s third-largest gasoline market. Agriculture ETFs to Rule Ahead? Soybean and Corn prices gained as Hurricane Ida made landfall. The stormy weather has disturbed grain exports in the U.S.’s busiest agricultural port, a problem that could increase further as the peak harvest season approaches. “Hurricane Ida has done considerable damage in the area around New Orleans and Baton Rouge,” Commonwealth Bank of Australia strategist Tobin Gorey said in a note. “What specific damage has been to U.S. crop export facilities is unclear for now - as is the period of shipping delays”, as quoted on Bloomberg . Needless to say, against this backdrop, Teucrium Corn Fund CORN and Teucrium Soybean (SOYB) should be in focus. Home Retailers & Infrastructure in Sweet Spot Rebuilding of homes and structures are necessary after a hurricane aftermath. Home Depot Inc. (HD) and Lowe's Companies Inc. LOW are thus in a bright spot. ETFs like Consumer Discretionary Select Sector SPDR Fund XLY and Invesco Dynamic Building & Construction PKB should also benefit. A Boon for Auto Sales Too? Repurchase of cars will gain traction now on higher replacing demand for the damaged vehicles. First Trust NASDAQ Global Auto Index Fund CARZ can thus gain ahead. Bitcoin, Like the Internet Itself, Could Change Everything Blockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities. Zacks’ has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly. See 3 crypto-related stocks now >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Lowes Companies, Inc. (LOW): Free Stock Analysis Report Invesco Dynamic Building & Construction ETF (PKB): ETF Research Reports First Trust NASDAQ Global Auto ETF (CARZ): ETF Research Reports Teucrium Corn ETF (CORN): ETF Research Reports VanEck Vectors Oil Refiners ETF (CRAK): ETF Research Reports To read this article on Zacks.com click here. Zacks Investment Research
[Social Media Buzz]
None available.
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49327.72, 50025.38, 49944.62, 51753.41, 52633.54, 46811.13, 46091.39, 46391.42, 44883.91, 45201.46
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Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 9629.66, 9313.61, 9264.81, 9162.92, 9045.39, 9143.58, 9190.85, 9137.99, 9228.33, 9123.41, 9087.30, 9132.49, 9073.94, 9375.47, 9252.28, 9428.33, 9277.97, 9278.81, 9240.35, 9276.50, 9243.61, 9243.21, 9192.84, 9132.23, 9151.39, 9159.04, 9185.82, 9164.23, 9374.89, 9525.36, 9581.07, 9536.89, 9677.11, 9905.17, 10990.87, 10912.82, 11100.47, 11111.21, 11323.47, 11759.59, 11053.61, 11246.35, 11205.89, 11747.02, 11779.77, 11601.47, 11754.05, 11675.74, 11878.11, 11410.53, 11584.93, 11784.14, 11768.87, 11865.70, 11892.80, 12254.40, 11991.23, 11758.28, 11878.37, 11592.49, 11681.83, 11664.85, 11774.60, 11366.13, 11488.36, 11323.40, 11542.50, 11506.87, 11711.51, 11680.82, 11970.48, 11414.03, 10245.30, 10511.81, 10169.57, 10280.35, 10369.56, 10131.52, 10242.35, 10363.14, 10400.92, 10442.17, 10323.76, 10680.84, 10796.95, 10974.91, 10948.99, 10944.59, 11094.35, 10938.27.
|
[Bitcoin Technical Analysis for 2020-09-20]
Volume: 24699523788, RSI (14-day): 51.36, 50-day EMA: 10852.86, 200-day EMA: 9799.02
[Wider Market Context]
None available.
[Recent News (last 7 days)]
ALT 5 Sigma Digital Instrument Market Summary for BTC, ETH, LTC, BCH: NEW YORK, NY / ACCESSWIRE / September 19, 2020 / ALT 5 Sigma Inc. an emerging leader in blockchain powered financial platforms provides its daily digital instruments market summary for Bitcoin (BTC/USD), Ether (ETH/USD), Litecoin (LTC/USD). Real-Time Market Data is available at www.alt5pro.com and Real-Time Market Data feed is also available at www.alt5sigma.com . ALT 5 Sigma Digital Instrument Market Summary for BTC, ETH, LTC, BCH About ALT 5 Sigma Inc. ALT 5 is a fintech company specializing in the development and deployment of digital assets trading and exchange platforms. Alt 5 was founded by financial industry specialists out of the necessity to provide the digital asset economy with security, accessibility, transparency and compliance. ALT 5 provides its clients the ability to buy, sell and hold digital assets in a safe and secure environment deployed with the best practices of the financial industry. ALT 5's products and services are available to Banks, Broker Dealers, Funds, Family Offices, Professional Traders, Retail Traders, Digital Asset Exchanges, Digital Asset Brokers, Blockchain Developers, and Financial Information Providers. ALT 5's digital asset custodian services are secured by GardaWorld. GardaWorld is the world's largest privately-owned business solutions and security services company, offering cash management services. For more information, visit www.alt5sigma.com . Contact: Andre Beauchesne Tel. 1-800-204-6203 info@alt5sigma.com For more information on ALT 5 Pay, visit www.alt5pay.com For more information on ALT 5 Pro, visit www.alt5pro.com SOURCE: ALT 5 Sigma Inc. View source version on accesswire.com: https://www.accesswire.com/606883/ALT-5-Sigma-Digital-Instrument-Market-Summary-for-BTC-ETH-LTC-BCH || ALT 5 Sigma Digital Instrument Market Summary for BTC, ETH, LTC, BCH: NEW YORK, NY / ACCESSWIRE / September 19, 2020 /ALT 5 Sigma Inc. an emerging leader in blockchain powered financial platforms provides its daily digital instruments market summary for Bitcoin (BTC/USD), Ether (ETH/USD), Litecoin (LTC/USD).
Real-Time Market Data is available atwww.alt5pro.comand Real-Time Market Data feed is also available atwww.alt5sigma.com.ALT 5 Sigma Digital Instrument Market Summary for BTC, ETH, LTC, BCH
About ALT 5 Sigma Inc.
ALT 5 is a fintech company specializing in the development and deployment of digital assets trading and exchange platforms. Alt 5 was founded by financial industry specialists out of the necessity to provide the digital asset economy with security, accessibility, transparency and compliance.
ALT 5 provides its clients the ability to buy, sell and hold digital assets in a safe and secure environment deployed with the best practices of the financial industry. ALT 5's products and services are available to Banks, Broker Dealers, Funds, Family Offices, Professional Traders, Retail Traders, Digital Asset Exchanges, Digital Asset Brokers, Blockchain Developers, and Financial Information Providers.
ALT 5's digital asset custodian services are secured by GardaWorld. GardaWorld is the world's largest privately-owned business solutions and security services company, offering cash management services.
For more information, visitwww.alt5sigma.com.
Contact:
Andre BeauchesneTel. 1-800-204-6203info@alt5sigma.com
For more information on ALT 5 Pay, visitwww.alt5pay.comFor more information on ALT 5 Pro, visitwww.alt5pro.com
SOURCE:ALT 5 Sigma Inc.
View source version on accesswire.com:https://www.accesswire.com/606883/ALT-5-Sigma-Digital-Instrument-Market-Summary-for-BTC-ETH-LTC-BCH || ALT 5 Sigma Digital Instrument Market Summary for BTC, ETH, LTC, BCH: NEW YORK, NY / ACCESSWIRE / September 19, 2020 /ALT 5 Sigma Inc. an emerging leader in blockchain powered financial platforms provides its daily digital instruments market summary for Bitcoin (BTC/USD), Ether (ETH/USD), Litecoin (LTC/USD).
Real-Time Market Data is available atwww.alt5pro.comand Real-Time Market Data feed is also available atwww.alt5sigma.com.ALT 5 Sigma Digital Instrument Market Summary for BTC, ETH, LTC, BCH
About ALT 5 Sigma Inc.
ALT 5 is a fintech company specializing in the development and deployment of digital assets trading and exchange platforms. Alt 5 was founded by financial industry specialists out of the necessity to provide the digital asset economy with security, accessibility, transparency and compliance.
ALT 5 provides its clients the ability to buy, sell and hold digital assets in a safe and secure environment deployed with the best practices of the financial industry. ALT 5's products and services are available to Banks, Broker Dealers, Funds, Family Offices, Professional Traders, Retail Traders, Digital Asset Exchanges, Digital Asset Brokers, Blockchain Developers, and Financial Information Providers.
ALT 5's digital asset custodian services are secured by GardaWorld. GardaWorld is the world's largest privately-owned business solutions and security services company, offering cash management services.
For more information, visitwww.alt5sigma.com.
Contact:
Andre BeauchesneTel. 1-800-204-6203info@alt5sigma.com
For more information on ALT 5 Pay, visitwww.alt5pay.comFor more information on ALT 5 Pro, visitwww.alt5pro.com
SOURCE:ALT 5 Sigma Inc.
View source version on accesswire.com:https://www.accesswire.com/606883/ALT-5-Sigma-Digital-Instrument-Market-Summary-for-BTC-ETH-LTC-BCH || The Hot Swap Plan to Switch Ethereum to Proof-of-Stake Explained: With Ethereum 2.0s much-anticipated move to Proof-of-Stake getting closer, CoinDesk Research Analyst Christine Kim spoke with Ethereum developer Danny Ryan and Liz Steininger, CEO of blockchain security company Least Authority on what users and investors should expect. For more episodes and free early access before our regular releases, subscribe with Apple Podcasts , Spotify , Pocketcasts , Google Podcasts , Castbox , Stitcher , RadioPublica , iHeartRadio or RSS . This episode is sponsored by Crypto.com , Bitstamp and Nexo.io . Related: Bitcoin News Roundup for Sept. 21, 2020 The highly-anticipated launch of Ethereum 2.0 is expected to have little to no impact on users and decentralized applications (dapps) currently operating on Ethereum. But in the years after its launch, Ethereum developer Danny Ryan expects the upgrade to radically improve network performance and security. There will be what Ryan calls a precise point of transition, where at one block the Ethereum blockchain is progressed and secured through the activity of mining and at the next block it is secured through validating. These two systems of block creation and transaction validation are called proof-of-work (PoW) and proof-of-stake (PoS), respectively. The Ethereum 2.0 upgrade is the technology and multi-year roadmap intended to transition the worlds second largest blockchain by market capitalization from PoW to PoS. See also: Ethereum 2.0: How It Works and Why It Matters Related: Lyn Aldens Latest: Why Currency Devaluation Is Inevitable There are several security concerns that still need to be addressed by Ethereum developers to ensure that at this point of transition, there is no possibility for 51 percent attacks , block reorganizations , and other edge cases jeopardizing user funds and network data. To this end, Liz Steininger, CEO of blockchain security company Least Authority, recommends additional audits of Ethereum 2.0 code in preparation for what developers are calling Phase 1.5 of the upgrade roadmap. However, even with multiple audits on top of the ones already completed for the launch of Ethereum 2.0, Steininger foresees inevitable hiccups and bumps in the road. Story continues See also: Quantstamp Audit Greenlights Ethereum 2.0 Client Prysm for Launch [Flaws in code] isnt necessarily a failure but its a learning opportunity for everybody in the industry to see how these things work at such a large scale, said Steininger. If we can overcome the bumps in the road that are undoubtedly going to happen during this large transition then I think that shows a kind of resiliency to the greater world of what blockchain and cryptocurrency and the development space is capable of. Ryan has high hopes that after the hot swap from Eth 1.0 to Eth 2.0, users and dapp developers will begin to see noticeable improvements to transaction efficiency and throughput on the merged network immediately. We want to increase the layer one capacity of the [Ethereum] system by approximately 100x. The benefits we hope to bring to developers is more capacity, cheaper transactions and a better environment for users to interact with and build dapps on, said Ryan. For more information about Ethereum 2.0, you can download the free research report featuring additional developer commentary about the upgrade on the CoinDesk Research Hub. Related Stories The Hot Swap Plan to Switch Ethereum to Proof-of-Stake Explained The Hot Swap Plan to Switch Ethereum to Proof-of-Stake Explained || The ‘Hot Swap’ Plan to Switch Ethereum to Proof-of-Stake Explained: With Ethereum 2.0’s much-anticipated move to Proof-of-Stake getting closer, CoinDesk Research Analyst Christine Kim spoke with Ethereum developer Danny Ryan and Liz Steininger, CEO of blockchain security company Least Authority on what users and investors should expect.
Formore episodesand free early access before our regular releases, subscribe withApple Podcasts,Spotify,Pocketcasts,Google Podcasts,Castbox,Stitcher,RadioPublica,iHeartRadioorRSS.
This episode is sponsored byCrypto.com,BitstampandNexo.io.
Related:Bitcoin News Roundup for Sept. 21, 2020
The highly-anticipated launch of Ethereum 2.0 is expected to have little to no impact on users and decentralized applications (dapps) currently operating on Ethereum. But in the years after its launch, Ethereum developer Danny Ryan expects the upgrade to radically improve network performance and security.
There will be what Ryan calls a “precise point of transition,” where at one block the Ethereum blockchain is progressed and secured through the activity of mining and at the next block it is secured through validating. These two systems of block creation and transaction validation are called proof-of-work (PoW) and proof-of-stake (PoS), respectively.
The Ethereum 2.0 upgrade is the technology and multi-year roadmap intended to transition the world’s second largest blockchain by market capitalization from PoW to PoS.
See also:Ethereum 2.0: How It Works and Why It Matters
Related:Lyn Alden’s Latest: Why Currency Devaluation Is Inevitable
There are several security concerns that still need to be addressed by Ethereum developers to ensure that at this point of transition, there is no possibility for51 percent attacks,block reorganizations, and other edge cases jeopardizing user funds and network data.
To this end, Liz Steininger, CEO of blockchain security company Least Authority, recommends additional audits of Ethereum 2.0 code in preparation for what developers are calling Phase 1.5 of the upgrade roadmap. However, even with multiple audits on top of the ones already completed for the launch of Ethereum 2.0, Steininger foresees inevitable “hiccups and bumps in the road.”
See also:Quantstamp Audit Greenlights Ethereum 2.0 Client Prysm for Launch
“[Flaws in code] isn’t necessarily a failure but it’s a learning opportunity for everybody in the industry to see how these things work at such a large scale,” said Steininger. “If we can overcome the bumps in the road that are undoubtedly going to happen during this large transition then I think that shows a kind of resiliency to the greater world of what blockchain and cryptocurrency and the development space is capable of.”
Ryan has high hopes that after the “hot swap” from Eth 1.0 to Eth 2.0, users and dapp developers will begin to see noticeable improvements to transaction efficiency and throughput on the merged network immediately.
“We want to increase the layer one capacity of the [Ethereum] system by approximately 100x. The benefits we hope to bring to developers is more capacity, cheaper transactions and a better environment for users to interact with and build dapps on,” said Ryan.
For more information about Ethereum 2.0, you can download the free research report featuring additional developer commentary about the upgradeon the CoinDesk Research Hub.
• The ‘Hot Swap’ Plan to Switch Ethereum to Proof-of-Stake Explained
• The ‘Hot Swap’ Plan to Switch Ethereum to Proof-of-Stake Explained || Kava Releases a Proposal for Harvest.io the Worlds First Cross-Chain Money Market: San Francisco, CA, Sept. 19, 2020 (GLOBE NEWSWIRE) -- Kava, the multi-asset DeFi platform, has today released a proposal for the first cross-chain money market to be hosted within its Cosmos SDK built blockchain. The application which is dubbed Harvest will enable Kava blockchain users to further capitalize on DeFi opportunities through its lending and borrowing functions. Whats been a bullish past few months, has seen innovations pivot toward decentralization and open architecture. Harvest, set to debut on Kavas blockchain, bases its fundamentals on a similar infrastructure, with an end goal of decentralizing financial services. The platform will allow anyone to lend and borrow digital assets including BTC, XRP, BNB, BUSD, KAVA and USDX for an interest in return. Harvest users who borrow or lend on the application will be paid out their interest plus the application's governance token HARD. Version 1 of the software will provide Supply functionality and Version 2 is will provide. Borrow functionality and expanded governance. The Harvest DeFi Lending Cross-Chain Architecture Harvest will be the first of many applications that will eventually leverage Kavas blockchain security for DeFi products. With the innovation majorly deriving its fundamentals from Kava , it will automatically integrate other functions such as Kavas price-reference data from Chainlink oracles and the underlying bridges to facilitate cross-chain asset transfers. This cross-chain architecture will play a pivotal role in giving Harvest access to any digital assets within the Kava blockchain network. The project is set to capitalize on the Kava-4 Mainnet upgrade where an expansion of the BEP3 Bridge will feature the support of BTC, BUSD and XRP amongst other digital assets. Ideally, all these digital assets will eventually be supported within the Harvest money market alongside Kava native assets like USDX KAVA and HARD. The Harvest application is a decentralized platform thats accessible by anyone anywhere. This open and permissionless platform will facilitate integrations with financial market stakeholders in niches not limited to FinTech apps, Exchanges, and financial institutions. This category of financial service providers will be able to offer Harvests earning and borrowing opportunities, directly to their clients. Story continues Decentralized Governance Recent DeFi trends have shown that a governance token is necessary to facilitate the growth of projects within this industry. Likewise, the Harvest governance token HARD will harmonize decentralized activities within its lending and borrowing ecosystem. This token will enable Harvest users who hold it to manage key metrics such as the digital assets to be featured and reward distribution within the network. In addition, HARD tokens will incentivize user participation and active governance on the Harvest application. Suppliers and Borrows stand to benefit by having more voice in the management of this Kava-built DeFi application. Harvest will also distribute 20% of the total amount of HARD tokens to Kava stakers over the next few years for providing security and other base-layer services to the Harvest application. Brian Kerr, CEO and Co-Founder of Kava stated, Importantly, this foundation provides developers with the ability to quickly build applications on Kavas open decentralized network while being able to leverage its security, cross-chain bridges, and other infrastructure that would otherwise cost millions and take years to develop independently. About Kava Kava is a multi-asset DeFi platform that offers stablecoins, loans, and other financial services for users of major cryptocurrency assets including BTC, XRP, BNB and ATOM to name a few. Kavas Harvest.io application is the worlds first decentralized cross-chain money market. More details about the project can be found at: Whitepaper Telegram Medium Twitter Havest.io Media contact information: Name: Sarah Austin Company: sarah@kava.io Email: Kava Labs Website: http://kava.io || Kava Releases a Proposal for Harvest.io the World’s First Cross-Chain Money Market: San Francisco, CA, Sept. 19, 2020 (GLOBE NEWSWIRE) -- Kava, the multi-asset DeFi platform, has todayreleaseda proposal for the first cross-chain money market to be hosted within its Cosmos SDK built blockchain. The application which is dubbed ‘Harvest’ will enable Kava blockchain users to further capitalize on DeFi opportunities through its lending and borrowing functions.
What’s been abullishpast few months, has seen innovations pivot toward decentralization and open architecture. Harvest, set to debut on Kava’s blockchain, bases its fundamentals on a similar infrastructure, with an end goal of decentralizing financial services. The platform will allow anyone to lend and borrow digital assets including BTC, XRP, BNB, BUSD, KAVA and USDX for an interest in return.
Harvest users who borrow or lend on the application will be paid out their interest plus the application's governance token ‘HARD’. Version 1 of the software will provide Supply functionality and Version 2 is will provide. Borrow functionality and expanded governance.
The Harvest DeFi Lending Cross-Chain Architecture
Harvest will be the first of many applications that will eventually leverage Kava’s blockchain security for DeFi products. With the innovation majorly deriving its fundamentals fromKava, it will automatically integrate other functions such as Kava’s price-reference data from Chainlink oracles and the underlying bridges to facilitate cross-chain asset transfers.
This cross-chain architecture will play a pivotal role in giving Harvest access to any digital assets within the Kava blockchain network. The project is set to capitalize on the Kava-4 Mainnet upgrade where an expansion of the BEP3 Bridge will feature the support of BTC, BUSD and XRP amongst other digital assets. Ideally, all these digital assets will eventually be supported within the Harvest money market alongside Kava native assets like USDX KAVA and HARD.
The Harvest application is a decentralized platform that’s accessible by anyone anywhere. This open and permissionless platform will facilitate integrations with financial market stakeholders in niches not limited to FinTech apps, Exchanges, and financial institutions. This category of financial service providers will be able to offer Harvest’s earning and borrowing opportunities, directly to their clients.
Decentralized Governance
Recent DeFi trends have shown that a governance token is necessary to facilitate the growth of projects within this industry. Likewise, the Harvest governance token ‘HARD’ will harmonize decentralized activities within its lending and borrowing ecosystem. This token will enable Harvest users who hold it to manage key metrics such as the digital assets to be featured and reward distribution within the network.
In addition, HARD tokens will incentivize user participation and active governance on the Harvest application. Suppliers and Borrows stand to benefit by having more voice in the management of this Kava-built DeFi application. Harvest will also distribute 20% of the total amount of HARD tokens to Kava stakers over the next few years for providing security and other base-layer services to the Harvest application.
Brian Kerr, CEO and Co-Founder of Kava stated, “Importantly, this foundation provides developers with the ability to quickly build applications on Kava’s open decentralized network while being able to leverage its security, cross-chain bridges, and other infrastructure that would otherwise cost millions and take years to develop independently.”About Kava
Kava is a multi-asset DeFi platform that offers stablecoins, loans, and other financial services for users of major cryptocurrency assets including BTC, XRP, BNB and ATOM to name a few. Kava’s Harvest.io application is the world’s first decentralized cross-chain money market.
More details about the project can be found at:WhitepaperTelegramMediumTwitterHavest.io
Media contact information:Name: Sarah AustinCompany: sarah@kava.ioEmail: Kava LabsWebsite:http://kava.io || The Crypto Daily – Movers and Shakers – September 19th, 2020: Bitcoin, BTC to USD, slipped by 0.02% on Friday. Following on from a 0.11% decline on Thursday, Bitcoin ended the day at $10,957.2. It was a mixed start to the day. Bitcoin fell to an early low $10,903.4 before making a move. Steering clear of the first major support level at $10,794, Bitcoin struck a late morning intraday high $11,064.0. Falling short of the first major resistance level at $11,097, Bitcoin slid to a late afternoon intraday low $10,825.0. Steering clear of the first major support level at $10,794, Bitcoin revisited $10,970 levels before falling back into the red. The near-term bullish trend remained intact, supported by the latest visit to $11,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend. The Rest of the Pack Across the rest of the majors, it was another mixed day on Friday. Binance Coin (+1.99%), Bitcoin Cash ABC (+0.49%), and Tron’s TRX (+3.35%) bucked the trend on the day. It was a bearish day for the rest of the majors, however. Bitcoin Cash SV (-1.94), Cardano’s ADA (-3.29%), EOS (-1.86%), Ethereum (-1.25%), Stellar’s Lumen (-2.65%), and Tezos (-3.42%) struggled on the day. Litecoin (-0.68%), Monero’s XMR (-0.55%), and Ripple’s XRP (-0.49%) saw relatively modest losses, however. In the current week, the crypto total market fell to a Monday low $314.21bn before rising to a Thursday high $340.01bn. At the time of writing, the total market cap stood at $333.33bn. Bitcoin’s dominance rose from a Monday low 59.64% to a Wednesday high 61.56%. At the time of writing, Bitcoin’s dominance stood at 60.80%. This Morning At the time of writing, Bitcoin was up by 0.24% to $10,984.0. A bullish start to the day saw Bitcoin rise from an early morning low $10,957.0 to a high $10,995.8. Bitcoin left the major support and resistance levels untested early on. Elsewhere, it was a mixed start to the day. Bitcoin Cash SV (+0.85%), Cardano’s ADA (+0.25%), Monero’s XMR (+0.23%), and Tron’s TRX (+0.25%) joined Bitcoin in the green. Story continues It was a bearish start to the day for the rest of the majors, however. At the time of writing, Tezos was down by 1.44% to lead the way down. For the Bitcoin Day Ahead Bitcoin would need to avoid a fall through the $10,949 pivot level to support a run at the first major resistance level at $11,073. Support from the broader market would be needed, however, for Bitcoin to breakout from Friday’s high $11,064.0. Barring an extended crypto rally, the first major resistance level and current week high $11,105 would likely cap any upside. In the event of a crypto breakout, Bitcoin could test the second major resistance level at $11,188 before any pullback. Failure to avoid a fall through the $10,949 pivot would bring the first major support level at $10,834 into play. Barring an extended crypto sell-off, however, Bitcoin should steer clear of sub-$10,700 levels. The second major support level at $10,710 should limit any downside. This article was originally posted on FX Empire More From FXEMPIRE: The Weekly Wrap – Central Banks, COVID-19, and Geopolitics Tested the Markets Biden Widens the Gap as Swing State Fence Sitters Take a Stand USD/CAD Daily Forecast – Flat Ahead Of The Weekend Natural Gas Weekly Price Forecast – Natural Gas Markets Break Down European Equities: A Week in Review – 18/09/20 Crude Oil Weekly Price Forecast – Crude Oil Markets Recover for the Week || The Crypto Daily – Movers and Shakers – September 19th, 2020: Bitcoin, BTC to USD, slipped by 0.02% on Friday. Following on from a 0.11% decline on Thursday, Bitcoin ended the day at $10,957.2. It was a mixed start to the day. Bitcoin fell to an early low $10,903.4 before making a move. Steering clear of the first major support level at $10,794, Bitcoin struck a late morning intraday high $11,064.0. Falling short of the first major resistance level at $11,097, Bitcoin slid to a late afternoon intraday low $10,825.0. Steering clear of the first major support level at $10,794, Bitcoin revisited $10,970 levels before falling back into the red. The near-term bullish trend remained intact, supported by the latest visit to $11,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend. The Rest of the Pack Across the rest of the majors, it was another mixed day on Friday. Binance Coin (+1.99%), Bitcoin Cash ABC (+0.49%), and Tron’s TRX (+3.35%) bucked the trend on the day. It was a bearish day for the rest of the majors, however. Bitcoin Cash SV (-1.94), Cardano’s ADA (-3.29%), EOS (-1.86%), Ethereum (-1.25%), Stellar’s Lumen (-2.65%), and Tezos (-3.42%) struggled on the day. Litecoin (-0.68%), Monero’s XMR (-0.55%), and Ripple’s XRP (-0.49%) saw relatively modest losses, however. In the current week, the crypto total market fell to a Monday low $314.21bn before rising to a Thursday high $340.01bn. At the time of writing, the total market cap stood at $333.33bn. Bitcoin’s dominance rose from a Monday low 59.64% to a Wednesday high 61.56%. At the time of writing, Bitcoin’s dominance stood at 60.80%. This Morning At the time of writing, Bitcoin was up by 0.24% to $10,984.0. A bullish start to the day saw Bitcoin rise from an early morning low $10,957.0 to a high $10,995.8. Bitcoin left the major support and resistance levels untested early on. Elsewhere, it was a mixed start to the day. Bitcoin Cash SV (+0.85%), Cardano’s ADA (+0.25%), Monero’s XMR (+0.23%), and Tron’s TRX (+0.25%) joined Bitcoin in the green. Story continues It was a bearish start to the day for the rest of the majors, however. At the time of writing, Tezos was down by 1.44% to lead the way down. For the Bitcoin Day Ahead Bitcoin would need to avoid a fall through the $10,949 pivot level to support a run at the first major resistance level at $11,073. Support from the broader market would be needed, however, for Bitcoin to breakout from Friday’s high $11,064.0. Barring an extended crypto rally, the first major resistance level and current week high $11,105 would likely cap any upside. In the event of a crypto breakout, Bitcoin could test the second major resistance level at $11,188 before any pullback. Failure to avoid a fall through the $10,949 pivot would bring the first major support level at $10,834 into play. Barring an extended crypto sell-off, however, Bitcoin should steer clear of sub-$10,700 levels. The second major support level at $10,710 should limit any downside. This article was originally posted on FX Empire More From FXEMPIRE: The Weekly Wrap – Central Banks, COVID-19, and Geopolitics Tested the Markets Biden Widens the Gap as Swing State Fence Sitters Take a Stand USD/CAD Daily Forecast – Flat Ahead Of The Weekend Natural Gas Weekly Price Forecast – Natural Gas Markets Break Down European Equities: A Week in Review – 18/09/20 Crude Oil Weekly Price Forecast – Crude Oil Markets Recover for the Week || ALT 5 Sigma Digital Instrument Market Summary for BTC, ETH, LTC, BCH: NEW YORK, NY / ACCESSWIRE / September 18, 2020 /ALT 5 Sigma Inc. an emerging leader in blockchain powered financial platforms provides its daily digital instruments market summary for Bitcoin (BTC/USD), Ether (ETH/USD), Litecoin (LTC/USD).
Real-Time Market Data is available atwww.alt5pro.comand Real-Time Market Data feed is also available atwww.alt5sigma.comALT 5 Sigma Digital Instrument Market Summary for BTC, ETH, LTC, BCH
About ALT 5 Sigma Inc.ALT 5 is a fintech company specializing in the development and deployment of digital assets trading and exchange platforms. Alt 5 was founded by financial industry specialists out of the necessity to provide the digital asset economy with security, accessibility, transparency and compliance.
ALT 5 provides its clients the ability to buy, sell and hold digital assets in a safe and secure environment deployed with the best practices of the financial industry. ALT 5's products and services are available to Banks, Broker Dealers, Funds, Family Offices, Professional Traders, Retail Traders, Digital Asset Exchanges, Digital Asset Brokers, Blockchain Developers, and Financial Information Providers.
ALT 5's digital asset custodian services are secured by GardaWorld. GardaWorld is the world's largest privately-owned business solutions and security services company, offering cash management services.
For more information, visitwww.alt5sigma.com.
CONTACT:Andre BeauchesneTel. 1-800-204-6203info@alt5sigma.com
For more information on ALT 5 Pay, visitwww.alt5pay.comFor more information on ALT 5 Pro, visitwww.alt5pro.com
SOURCE:ALT 5 Sigma Inc.
View source version on accesswire.com:https://www.accesswire.com/606841/ALT-5-Sigma-Digital-Instrument-Market-Summary-for-BTC-ETH-LTC-BCH || ALT 5 Sigma Digital Instrument Market Summary for BTC, ETH, LTC, BCH: NEW YORK, NY / ACCESSWIRE / September 18, 2020 / ALT 5 Sigma Inc. an emerging leader in blockchain powered financial platforms provides its daily digital instruments market summary for Bitcoin (BTC/USD), Ether (ETH/USD), Litecoin (LTC/USD). Real-Time Market Data is available at www.alt5pro.com and Real-Time Market Data feed is also available at www.alt5sigma.com ALT 5 Sigma Digital Instrument Market Summary for BTC, ETH, LTC, BCH About ALT 5 Sigma Inc. ALT 5 is a fintech company specializing in the development and deployment of digital assets trading and exchange platforms. Alt 5 was founded by financial industry specialists out of the necessity to provide the digital asset economy with security, accessibility, transparency and compliance. ALT 5 provides its clients the ability to buy, sell and hold digital assets in a safe and secure environment deployed with the best practices of the financial industry. ALT 5's products and services are available to Banks, Broker Dealers, Funds, Family Offices, Professional Traders, Retail Traders, Digital Asset Exchanges, Digital Asset Brokers, Blockchain Developers, and Financial Information Providers. ALT 5's digital asset custodian services are secured by GardaWorld. GardaWorld is the world's largest privately-owned business solutions and security services company, offering cash management services. For more information, visit www.alt5sigma.com . CONTACT: Andre Beauchesne Tel. 1-800-204-6203 info@alt5sigma.com For more information on ALT 5 Pay, visit www.alt5pay.com For more information on ALT 5 Pro, visit www.alt5pro.com SOURCE: ALT 5 Sigma Inc. View source version on accesswire.com: https://www.accesswire.com/606841/ALT-5-Sigma-Digital-Instrument-Market-Summary-for-BTC-ETH-LTC-BCH || ALT 5 Sigma Digital Instrument Market Summary for BTC, ETH, LTC, BCH: NEW YORK, NY / ACCESSWIRE / September 18, 2020 /ALT 5 Sigma Inc. an emerging leader in blockchain powered financial platforms provides its daily digital instruments market summary for Bitcoin (BTC/USD), Ether (ETH/USD), Litecoin (LTC/USD).
Real-Time Market Data is available atwww.alt5pro.comand Real-Time Market Data feed is also available atwww.alt5sigma.comALT 5 Sigma Digital Instrument Market Summary for BTC, ETH, LTC, BCH
About ALT 5 Sigma Inc.ALT 5 is a fintech company specializing in the development and deployment of digital assets trading and exchange platforms. Alt 5 was founded by financial industry specialists out of the necessity to provide the digital asset economy with security, accessibility, transparency and compliance.
ALT 5 provides its clients the ability to buy, sell and hold digital assets in a safe and secure environment deployed with the best practices of the financial industry. ALT 5's products and services are available to Banks, Broker Dealers, Funds, Family Offices, Professional Traders, Retail Traders, Digital Asset Exchanges, Digital Asset Brokers, Blockchain Developers, and Financial Information Providers.
ALT 5's digital asset custodian services are secured by GardaWorld. GardaWorld is the world's largest privately-owned business solutions and security services company, offering cash management services.
For more information, visitwww.alt5sigma.com.
CONTACT:Andre BeauchesneTel. 1-800-204-6203info@alt5sigma.com
For more information on ALT 5 Pay, visitwww.alt5pay.comFor more information on ALT 5 Pro, visitwww.alt5pro.com
SOURCE:ALT 5 Sigma Inc.
View source version on accesswire.com:https://www.accesswire.com/606841/ALT-5-Sigma-Digital-Instrument-Market-Summary-for-BTC-ETH-LTC-BCH || New Binance-Backed DeFi Site Lets You Earn Yield on Bitcoin, Other Non-Ethereum Assets: Kava Labs has launched its first application: a yield-generating decentralized finance (DeFi) platform forbitcoin (BTC)and other non-Ethereum assets.
The product, calledHarvestand built on the Kava blockchain, allows users to stake their crypto so it can be lent out to other users. Harvest will initially support deposits of BTC, BNB, BUSD and XRP. Soon, Kava Labs plans to debut automated market makers (AMMs) likeUniswapand robo-advisors likeYearn.Financeon the blockchain as well, said Kava Labs CEO Brian Kerr.
Similar to DeFi platform MakerDAO, Kava will allow users to create collateralized debt positions (CDPs) on the Kava protocol in exchange for a stablecoin, USDX, pegged one-to-one with the U.S. dollar. Unlike Maker, though, Kava works with assets outside the Ethereum ecosystem that have largely watched the DeFi craze from afar.
Related:First Mover: Digital Gold Narrative Could Be Bitcoin's Lone Ace as Ethereum Gains
Kava Labs is backed by several large exchanges, including Binance, Huobi and OKEx, whichstakekava tokens and participate in the blockchain’s governance.
Kerr said that Harvest was inspired byAaveandCompound, but that Harvest will bring the same capabilities that these protocols have to a larger array of digital assets.
“When we were building out Harvest, we saw the design paradigm already working,” Kerr said. “What we can bring to the table is unlocking these much larger-market-cap assets and giving them the same type of lending and borrowing functionality.”
Read more:Multi-Chain DeFi Protocol Raises $750K in Token Sale With Framework Ventures
Related:DeFi Yield Farming Aggregator APY.Finance Raises $3.6M in Seed Funding
Harvest users who borrow or lend on the app will be paid their interest and HARD tokens, the governance token of Harvest, which will also be used to incentivize liquidity on the platform.
Kava is built on the Tendermint consensus algorithm, which is also employed by the Cosmos blockchain interoperability project. Kava conducted an initial exchange offering (IEO) on Binance in October and counts Arrington XRP Capital as an investor.
• New Binance-Backed DeFi Site Lets You Earn Yield on Bitcoin, Other Non-Ethereum Assets
• New Binance-Backed DeFi Site Lets You Earn Yield on Bitcoin, Other Non-Ethereum Assets || New Binance-Backed DeFi Site Lets You Earn Yield on Bitcoin, Other Non-Ethereum Assets: Kava Labs has launched its first application: a yield-generating decentralized finance (DeFi) platform forbitcoin (BTC)and other non-Ethereum assets.
The product, calledHarvestand built on the Kava blockchain, allows users to stake their crypto so it can be lent out to other users. Harvest will initially support deposits of BTC, BNB, BUSD and XRP. Soon, Kava Labs plans to debut automated market makers (AMMs) likeUniswapand robo-advisors likeYearn.Financeon the blockchain as well, said Kava Labs CEO Brian Kerr.
Similar to DeFi platform MakerDAO, Kava will allow users to create collateralized debt positions (CDPs) on the Kava protocol in exchange for a stablecoin, USDX, pegged one-to-one with the U.S. dollar. Unlike Maker, though, Kava works with assets outside the Ethereum ecosystem that have largely watched the DeFi craze from afar.
Related:First Mover: Digital Gold Narrative Could Be Bitcoin's Lone Ace as Ethereum Gains
Kava Labs is backed by several large exchanges, including Binance, Huobi and OKEx, whichstakekava tokens and participate in the blockchain’s governance.
Kerr said that Harvest was inspired byAaveandCompound, but that Harvest will bring the same capabilities that these protocols have to a larger array of digital assets.
“When we were building out Harvest, we saw the design paradigm already working,” Kerr said. “What we can bring to the table is unlocking these much larger-market-cap assets and giving them the same type of lending and borrowing functionality.”
Read more:Multi-Chain DeFi Protocol Raises $750K in Token Sale With Framework Ventures
Related:DeFi Yield Farming Aggregator APY.Finance Raises $3.6M in Seed Funding
Harvest users who borrow or lend on the app will be paid their interest and HARD tokens, the governance token of Harvest, which will also be used to incentivize liquidity on the platform.
Kava is built on the Tendermint consensus algorithm, which is also employed by the Cosmos blockchain interoperability project. Kava conducted an initial exchange offering (IEO) on Binance in October and counts Arrington XRP Capital as an investor.
• New Binance-Backed DeFi Site Lets You Earn Yield on Bitcoin, Other Non-Ethereum Assets
• New Binance-Backed DeFi Site Lets You Earn Yield on Bitcoin, Other Non-Ethereum Assets || New Binance-Backed DeFi Site Lets You Earn Yield on Bitcoin, Other Non-Ethereum Assets: Kava Labs has launched its first application: a yield-generating decentralized finance (DeFi) platform for bitcoin (BTC) and other non-Ethereum assets. The product, called Harvest and built on the Kava blockchain, allows users to stake their crypto so it can be lent out to other users. Harvest will initially support deposits of BTC, BNB, BUSD and XRP. Soon, Kava Labs plans to debut automated market makers (AMMs) like Uniswap and robo-advisors like Yearn.Finance on the blockchain as well, said Kava Labs CEO Brian Kerr. Similar to DeFi platform MakerDAO, Kava will allow users to create collateralized debt positions (CDPs) on the Kava protocol in exchange for a stablecoin, USDX, pegged one-to-one with the U.S. dollar. Unlike Maker, though, Kava works with assets outside the Ethereum ecosystem that have largely watched the DeFi craze from afar. Related: First Mover: Digital Gold Narrative Could Be Bitcoin's Lone Ace as Ethereum Gains Kava Labs is backed by several large exchanges, including Binance, Huobi and OKEx, which stake kava tokens and participate in the blockchains governance. Yield farming, meet Harvest Kerr said that Harvest was inspired by Aave and Compound , but that Harvest will bring the same capabilities that these protocols have to a larger array of digital assets. When we were building out Harvest, we saw the design paradigm already working, Kerr said. What we can bring to the table is unlocking these much larger-market-cap assets and giving them the same type of lending and borrowing functionality. Read more: Multi-Chain DeFi Protocol Raises $750K in Token Sale With Framework Ventures Related: DeFi Yield Farming Aggregator APY.Finance Raises $3.6M in Seed Funding Harvest users who borrow or lend on the app will be paid their interest and HARD tokens, the governance token of Harvest, which will also be used to incentivize liquidity on the platform. Kava is built on the Tendermint consensus algorithm, which is also employed by the Cosmos blockchain interoperability project. Kava conducted an initial exchange offering (IEO) on Binance in October and counts Arrington XRP Capital as an investor. Related Stories New Binance-Backed DeFi Site Lets You Earn Yield on Bitcoin, Other Non-Ethereum Assets New Binance-Backed DeFi Site Lets You Earn Yield on Bitcoin, Other Non-Ethereum Assets || What Is DeFi?: DeFi is short for “decentralized finance,” an umbrella term for a variety of financial applications in cryptocurrency or blockchain geared toward disrupting financial intermediaries. DeFi draws inspiration from blockchain , the technology behind the digital currency bitcoin , which allows several entities to hold a copy of a history of transactions, meaning it isn’t controlled by a single, central source. That’s important because centralized systems and human gatekeepers can limit the speed and sophistication of transactions while offering users less direct control over their money. DeFi is distinct because it expands the use of blockchain from simple value transfer to more complex financial use cases. Bitcoin and many other digital-native assets stand out from legacy digital payment methods, such as those run by Visa and PayPal, in that they remove all middlemen from transactions. When you pay with a credit card for coffee at a cafe, a financial institution sits between you and the business, with control over the transaction, retaining the authority to stop or pause it and record it in its private ledger. With bitcoin, those institutions are cut out of the picture. Related: First Mover: Digital Gold Narrative Could Be Bitcoin's Lone Ace as Ethereum Gains Direct purchases aren’t the only type of transaction or contract overseen by big companies; financial applications such as loans, insurance, crowdfunding, derivatives, betting and more are also in their control. Cutting out middlemen from all kinds of transactions is one of the primary advantages of DeFi. Before it was commonly known as decentralized finance, the idea of DeFi was often called “open finance.” Ethereum applications Most applications that call themselves “DeFi” are built on top of Ethereum , the world’s second-largest cryptocurrency platform, which sets itself apart from Bitcoin in that it’s easier to use to build other types of decentralized applications beyond simple transactions. These more complex financial use cases were even highlighted by Ethereum creator Vitalik Buterin back in 2013 in the original Ethereum white paper . Story continues That’s because of Ethereum’s platform for smart contracts – which automatically execute transactions if certain conditions are met – offers much more flexibility. Ethereum programming languages, such as Solidity, are specifically designed for creating and deploying such smart contracts. Related: DeFi Yield Farming Aggregator APY.Finance Raises $3.6M in Seed Funding For example, say a user wants their money to be sent to their friend next Tuesday, but only if the temperature climbs above 90 degrees according to weather.com. Such rules can be written in a smart contract. With smart contracts at the core, dozens of DeFi applications are operating on Ethereum, some of which are explored below. Ethereum 2.0 , a coming upgrade to Ethereum’s underlying network, could give these apps a boost by chipping away at Ethereum’s scalability issues. The most popular types of DeFi applications include: Decentralized exchanges (DEXs) : Online exchanges help users exchange currencies for other currencies, whether U.S. dollars for bitcoin or ether for DAI . DEXs are a hot type of exchange, which connects users directly so they can trade cryptocurrencies with one another without trusting an intermediary with their money. Stablecoins : A cryptocurrency that’s tied to an asset outside of cryptocurrency (the dollar or euro, for example) to stabilize the price. Lending platforms : These platforms use smart contracts to replace intermediaries such as banks that manage lending in the middle. “Wrapped” bitcoins (WBTC) : A way of sending bitcoin to the Ethereum network so the bitcoin can be used directly in Ethereum’s DeFi system. WBTCs allow users to earn interest on the bitcoin they lend out via the decentralized lending platforms described above. Prediction markets : Markets for betting on the outcome of future events, such as elections. The goal of DeFi versions of prediction markets is to offer the same functionality but without intermediaries. In addition to these apps, new DeFi concepts have sprung up around them: Yield farming : For knowledgeable traders who are willing to take on risk, there’s yield farming , where users scan through various DeFi tokens in search of opportunities for larger returns. Liquidity mining : When DeFi applications entice users to their platform by giving them free tokens. This has been the buzziest form of yield farming yet. Composability : DeFi apps are open-source, meaning the code behind them is public for anyone to view. As such, these apps can be used to “compose” new apps with the code as building blocks. Money legos : Putting the concept “composability” another way, DeFi apps are like Legos, the toy blocks children click together to construct buildings, vehicles and so on. DeFi apps can be similarly snapped together like "money legos ” to build new financial products. Lending platforms Lending markets are one popular form of DeFi, which connects borrowers to lenders of cryptocurrencies. One popular platform, Compound , allows users to borrow cryptocurrencies or offer their own loans. Users can make money off of interest for lending out their money. Compound sets the interest rates algorithmically, so if there’s higher demand to borrow a cryptocurrency, the interest rates will be pushed higher. DeFi lending is collateral-based, meaning in order to take out a loan, a user needs to put up collateral – often ether, the token that powers Ethereum. That means users don’t give out their identity or associated credit score to take out a loan, which is how normal, non-DeFi loans operate. Stablecoins Another form of DeFi is the stablecoin . Cryptocurrencies often experience sharper price fluctuations than fiat, which isn’t a good quality for people who want to know how much their money will be worth a week from now. Stablecoins peg cryptocurrencies to non-cryptocurrencies, such as the U.S. dollar, in order to keep the price under control. As the name implies, stablecoins aim to bring price “stability.” Prediction markets One of the oldest DeFi applications living on Ethereum is a so-called “ prediction market ,” where users bet on the outcome of some event, such as “Will Donald Trump win the 2020 presidential election?” The goal of the participants is, obviously, to make money, though prediction markets can sometimes better predict outcomes than conventional methods, like polling. Centralized prediction markets with good track records in this regard include Intrade and PredictIt. DeFi has the potential to boost interest in prediction markets, since they are traditionally frowned upon by governments and often shut down when run in a centralized manner. DeFi FAQ How do I make money with DeFi? The value locked up in Ethereum DeFi projects has been exploding, with many users reportedly making a lot of money . Using Ethereum-based lending apps, as mentioned above, users can generate “passive income” by loaning out their money and generating interest from the loans. Yield farming , described above, has the potential for even larger returns, but with larger risk. It allows for users to leverage the lending aspect of DeFi to put their crypto assets to work generating the best possible returns. However, these systems tend to be complex and often lack transparency. Is investing in DeFi safe? No, it’s risky. Many believe DeFi is the future of finance and that investing in the disruptive technology early could lead to massive gains. But, it’s difficult for newcomers to separate the good projects from the bad. And, there’s been plenty of bad. As DeFi has increased in activity and popularity through 2020, many DeFi applications, such as meme coin YAM , have crashed and burned, sending the market capitalization from $60 million to $0 in 35 minutes. Other DeFi projects, including Hotdog and Pizza, faced the same fate, and many investors lost a lot of money. In addition, DeFi bugs are unfortunately still very common . Smart contracts are powerful, but they can’t be changed once the rules are baked into the protocol, which often makes bugs permanent and thus increasing risk. When will DeFi go mainstream? While more and more people are being drawn to these DeFi applications, it’s hard to say where they’ll go. Much of that depends on who finds them useful and why. Many believe various DeFi projects have the potential to become the next Robinhood , drawing in hoards of new users by making financial applications more inclusive and open to those who don’t traditionally have access to such platforms. This financial technology is new, experimental, and isn’t without problems, especially with regard to security or scalability . Developers hope to eventually rectify these problems. Ethereum 2.0 could tackle scalability concerns through a concept known as sharding , a way of splitting the underlying database into smaller pieces that are more manageable for individual users to run. How will Ethereum 2.0 impact DeFi? Ethereum 2.0 isn’t a panacea for all of DeFi’s issues, but it’s a start. Other protocols such as Raiden and TrueBit are also in the works to further tackle Ethereum’s scalability issues. If and when these solutions fall into place, Ethereum’s DeFi experiments will have an even better chance of becoming real products, potentially even going mainstream. Bitcoin as DeFi While Ethereum is top dog in the DeFi world, many proponents of Bitcoin share the goal of cutting the middleman out of more complex financial transactions, and they’ve developed ways to do so using the Bitcoin protocol. Companies such as DG Labs and Suredbits , for instance, are working on a Bitcoin DeFi technology called discreet log contracts (DLC). DLC offers a way to execute more complex financial contracts, such as derivatives, with the help of Bitcoin. One use case of DLC is to pay out bitcoin to someone only if certain future conditions are met, say, if the White Sox win their next baseball game, the money will be dispensed to the winner. Related Stories What Is DeFi? What Is DeFi? || What Is DeFi?: DeFi is short for “decentralized finance,” an umbrella term for a variety of financial applications in cryptocurrency or blockchain geared toward disrupting financial intermediaries.
DeFi draws inspiration fromblockchain, the technology behind the digital currencybitcoin, which allows several entities to hold a copy of a history of transactions, meaning it isn’t controlled by a single, central source. That’s important because centralized systems and human gatekeepers can limit the speed and sophistication of transactions while offering users less direct control over their money. DeFi is distinct because it expands the use of blockchain from simple value transfer to more complex financial use cases.
Bitcoin and many other digital-native assets stand out from legacy digital payment methods, such as those run by Visa and PayPal, in that they remove all middlemen from transactions. When you pay with a credit card for coffee at a cafe, a financial institution sits between you and the business, with control over the transaction, retaining the authority to stop or pause it and record it in its private ledger. With bitcoin, those institutions are cut out of the picture.
Related:First Mover: Digital Gold Narrative Could Be Bitcoin's Lone Ace as Ethereum Gains
Direct purchases aren’t the only type of transaction or contract overseen by big companies; financial applications such as loans, insurance, crowdfunding, derivatives, betting and more are also in their control. Cutting out middlemen from all kinds of transactions is one of the primary advantages of DeFi.
Before it was commonly known as decentralized finance, the idea of DeFi was often called “open finance.”
Most applications that call themselves “DeFi” are built on top ofEthereum, the world’s second-largest cryptocurrency platform, which sets itself apart from Bitcoin in that it’s easier to use to build other types of decentralized applications beyond simple transactions. These more complex financial use cases were even highlighted by Ethereum creatorVitalik Buterinback in 2013 in the originalEthereum white paper.
That’s because of Ethereum’s platform forsmart contracts– which automatically execute transactions if certain conditions are met – offers much more flexibility. Ethereum programming languages, such as Solidity, are specifically designed for creating and deploying such smart contracts.
Related:DeFi Yield Farming Aggregator APY.Finance Raises $3.6M in Seed Funding
For example, say a user wants their money to be sent to their friend next Tuesday, but only if the temperature climbs above 90 degrees according to weather.com. Such rules can be written in a smart contract.
With smart contracts at the core, dozens of DeFi applications are operating on Ethereum, some of which are explored below.Ethereum 2.0, a coming upgrade to Ethereum’s underlying network, could give these apps a boost by chipping away at Ethereum’s scalability issues.
The most popular types of DeFi applications include:
• Decentralized exchanges (DEXs): Online exchanges help users exchange currencies for other currencies, whether U.S. dollars forbitcoinoretherforDAI. DEXs are ahottype of exchange, which connects users directly so they can trade cryptocurrencies with one another without trusting an intermediary with their money.
• Stablecoins: A cryptocurrency that’s tied to an asset outside of cryptocurrency (the dollar or euro, for example) to stabilize the price.
• Lending platforms: These platforms use smart contracts to replace intermediaries such as banks that manage lending in the middle.
• “Wrapped” bitcoins (WBTC): A way of sending bitcoin to the Ethereum network so the bitcoincan be used directlyin Ethereum’s DeFi system. WBTCs allow users to earn interest on the bitcoin they lend out via the decentralized lending platforms described above.
• Prediction markets: Markets for betting on the outcome of future events, such as elections. The goal of DeFi versions ofprediction marketsis to offer the same functionality but without intermediaries.
In addition to these apps, new DeFi concepts have sprung up around them:
• Yield farming: For knowledgeable traders who are willing to take on risk, there’syield farming, where users scan through various DeFi tokens in search of opportunities for larger returns.
• Liquidity mining: When DeFi applications entice users to their platform by giving them free tokens. This has been the buzziest form of yield farming yet.
• Composability: DeFi apps are open-source, meaning the code behind them is public for anyone to view. As such, these apps can be used to “compose” new apps with the code as building blocks.
• Money legos: Putting the concept “composability” another way, DeFi apps are like Legos, the toy blocks children click together to construct buildings, vehicles and so on. DeFi apps can be similarly snapped together like"money legos” to build new financial products.
Lending markets are one popular form of DeFi, which connects borrowers to lenders of cryptocurrencies.One popular platform,Compound, allows users to borrow cryptocurrencies or offer their own loans. Users can make money off of interest for lending out their money. Compound sets the interest rates algorithmically, so if there’s higher demand to borrow a cryptocurrency, the interest rates will be pushed higher.
DeFi lending is collateral-based, meaning in order to take out a loan, a user needs to put up collateral – often ether, the token that powers Ethereum. That means users don’t give out their identity or associated credit score to take out a loan, which is how normal, non-DeFi loans operate.
Another form of DeFi is thestablecoin. Cryptocurrencies often experience sharper price fluctuations than fiat, which isn’t a good quality for people who want to know how much their money will be worth a week from now. Stablecoins peg cryptocurrencies to non-cryptocurrencies, such as the U.S. dollar, in order to keep the price under control. As the name implies, stablecoins aim to bring price “stability.”
One of the oldest DeFi applications living on Ethereum is a so-called “prediction market,” where users bet on the outcome of some event, such as “Will Donald Trump win the 2020 presidential election?”
The goal of the participants is, obviously, to make money, though prediction markets can sometimes better predict outcomes than conventional methods, like polling. Centralized prediction markets with good track records in this regard include Intrade and PredictIt. DeFi has the potential to boost interest in prediction markets, since they are traditionally frowned upon by governments and often shut down when run in a centralized manner.
The value locked up in Ethereum DeFi projects has been exploding, with many users reportedlymaking a lot of money.
Using Ethereum-based lending apps, as mentioned above, users can generate “passive income” by loaning out their money and generating interest from the loans.Yield farming, described above, has the potential for even larger returns, but with larger risk. It allows for users to leverage the lending aspect of DeFi to put their crypto assets to work generating the best possible returns. However, these systems tend to be complex and often lack transparency.
No, it’s risky. Many believe DeFi is the future of finance and that investing in the disruptive technology early could lead to massive gains.
But, it’s difficult for newcomers to separate the good projects from the bad. And, there’s been plenty of bad.
As DeFi has increased in activity and popularity through 2020, many DeFi applications, such as meme coinYAM, have crashed and burned,sendingthe market capitalization from $60 million to $0 in 35 minutes. Other DeFi projects, includingHotdogand Pizza, faced the same fate, and many investors lost a lot of money.
In addition, DeFi bugs are unfortunatelystillverycommon. Smart contracts are powerful, but they can’t be changed once the rules are baked into the protocol, which often makes bugs permanent and thus increasing risk.
While more and more people are being drawn to these DeFi applications, it’s hard to say where they’ll go. Much of that depends on who finds them useful and why. Many believe various DeFi projects have the potential to becomethe next Robinhood, drawing in hoards of new users by making financial applications more inclusive and open to those who don’t traditionally have access to such platforms.
This financial technology is new, experimental, and isn’t without problems, especially with regard to security orscalability.
Developers hope to eventually rectify these problems. Ethereum 2.0 could tackle scalability concerns through a concept known assharding, a way of splitting the underlying database into smaller pieces that are more manageable for individual users to run.
Ethereum 2.0 isn’t a panacea for all of DeFi’s issues, but it’s a start. Other protocols such as Raiden andTrueBitare also in the works to further tackle Ethereum’s scalability issues.
If and when these solutions fall into place, Ethereum’s DeFi experiments will have an even better chance of becoming real products, potentially even going mainstream.
While Ethereum is top dog in the DeFi world, many proponents of Bitcoin share the goal of cutting the middleman out of more complex financial transactions, and they’ve developed ways to do so using the Bitcoin protocol.
Companies such asDG LabsandSuredbits, for instance, are working on a Bitcoin DeFi technology called discreet log contracts (DLC). DLC offers a way to execute more complex financial contracts, such as derivatives, with the help of Bitcoin. One use case of DLC is to pay out bitcoin to someone only if certain future conditions are met, say, if the White Sox win their next baseball game, the money will be dispensed to the winner.
• What Is DeFi?
• What Is DeFi? || Market Wrap: Bitcoin Tests $11K; Uniswap Passes $1.5B Locked: Bitcoin has lost its market momentum. Meanwhile, the amount of cryptocurrency locked in decentralized exchange Uniswap was nearly doubled on Friday.
• Bitcoin(BTC) trading around $10,867 as of 20:00 UTC (4 p.m. ET). Slipping 0.42% over the previous 24 hours.
• Bitcoin’s 24-hour range: $10,812-$11,039
• BTC below its 10-day and 50-day moving averages, a bearish signal for market technicians.
Bitcoin was only able to eclipse the $11,000 level briefly Friday before dropping to as low as $10,812 on spot exchanges such as Coinbase.
“Markets are looking weak on drying-up liquidity on exchanges while BTC hardly managed to reach back above the $11,000 level and couldn’t sustain it,” said Jean Baptiste Pavageau, partner at trading firm ExoAlpha.
Related:First Mover: Digital Gold Narrative Could Be Bitcoin's Lone Ace as Ethereum Gains
Indeed, major USD/BTC exchange volumes are looking feeble, with Friday tallying a $211 million total so far while daily averages the past month have been $364 million.
Rupert Douglas, head of institutional sales at crypto brokerage Koine, is concerned stock markets are in for a correction, potentially hurting crypto as investors look to unload risky assets.
“I think equities are headed lower and if that happens digital assets will get sucked down, too,” Douglas told CoinDesk. “The tech shares are too frothy,” he added
Stock markets globally were mixed to cap off the week:
• In Asia the Nikkei 225 ended the day flat, in the green 0.18% asconcerns about company earnings in the face of the coronavirus pandemic prompted investor caution.
• In Europe the FTSE 100 closed in the red 0.47% asthe U.K. government considers another lockdown due to the coronavirus.
• In the United States the S&P 500 fell 1.7% aslosses in the tech sector dragged down the index, including Apple slipping 3%.
Related:Bitcoin Down as Stocks Fall Over European Coronavirus Fears
Another factor crypto investors are tracking: Bitcoin dominance, a measure of its market capitalization as a percentage of total cryptocurrencies. September has seen bitcoin hit 2020 dominance lows, hovering around 60% Friday.
“So far, bitcoin dominance has largely been sliding downwards since the beginning of 2020,” said Andrew Tu, an executive at crypto quant trading firm Efficient Frontier. “It will be interesting to see if we see a short-term reversion of the bitcoin dominance back upwards.”
ExoAlpha’s Pavageau says decentralized finance, or DeFi, is captivating the crypto market, and that is causing weakness for bitcoin.
Read More:This DeFi Group Wants to Bring Maturity to the Yield Farming Craze
“The market is focused on DeFi. It seems that locking value is also draining liquidity from exchanges as traders are noticing higher slippage when executing in the market,” Pavageau said. “A question to ask might be: Is the total value locked a threat to market liquidity for active traders?”
Ether(ETH), the second-largest cryptocurrency by market capitalization, was down Friday, trading around $379 and slipping 2.3% in 24 hours as of 20:00 UTC (4:00 p.m. ET).
The amount of cryptocurrency “locked” in decentralized exchange Uniswap has crossed $1.5 billion for the first time since Sept. 7. Investors have been quickly plowing crypto into Uniswap’s smart contracts over the past 24 hours, an 80% increase in value locked for that time period.
The dynamics of Uniswap have changed due to the decentralized exchange’s decision to release its own token, known as UNI, said Brian Mosoff, chief executive officer for investment firm Ether Capital.
Read More:Uniswap’s Newly Launched UNI Token Has Already Doubled in Price
“Users are likely locking ETH into Uniswap because they want to farm the $UNI token,” Mosoff said. “Many crypto users see Uniswap as the category leader, and rightfully so given the team and its backers. Users want to participate financially in the growth of the platform.”
Digital assets on theCoinDesk 20are mixed Friday, mostly in the red. Notable winners as of 20:00 UTC (4:00 p.m. ET):
• qtum(QTUM) + 7.2%
• neo(NEO) + 5.7%
• tron(TRX) + 3.2%
Notable losers as of 20:00 UTC (4:00 p.m. ET):
• orchid(OXT) – 6.3%
• chainlink(LINK) – 5.5%
• tezos(XTZ) – 4.6%
Read More:Uniswap’s $5B Token Valuation Cements Comeback From ‘Vampire Mining’
Commodities:
• Oil is flat, in the red 0.10%. Price per barrel of West Texas Intermediate crude: $40.90.
• Gold was in the green 0.34% and at $1,950 as of press time.
Treasurys:
• U.S. Treasury bond yields were mixed Friday. Yields, which move in the opposite direction as price, were down most on the two-year bond, in the red 2.8%.
• Market Wrap: Bitcoin Tests $11K; Uniswap Passes $1.5B Locked
• Market Wrap: Bitcoin Tests $11K; Uniswap Passes $1.5B Locked || Market Wrap: Bitcoin Tests $11K; Uniswap Passes $1.5B Locked: Bitcoin has lost its market momentum. Meanwhile, the amount of cryptocurrency locked in decentralized exchange Uniswap was nearly doubled on Friday.
• Bitcoin(BTC) trading around $10,867 as of 20:00 UTC (4 p.m. ET). Slipping 0.42% over the previous 24 hours.
• Bitcoin’s 24-hour range: $10,812-$11,039
• BTC below its 10-day and 50-day moving averages, a bearish signal for market technicians.
Bitcoin was only able to eclipse the $11,000 level briefly Friday before dropping to as low as $10,812 on spot exchanges such as Coinbase.
“Markets are looking weak on drying-up liquidity on exchanges while BTC hardly managed to reach back above the $11,000 level and couldn’t sustain it,” said Jean Baptiste Pavageau, partner at trading firm ExoAlpha.
Related:First Mover: Digital Gold Narrative Could Be Bitcoin's Lone Ace as Ethereum Gains
Indeed, major USD/BTC exchange volumes are looking feeble, with Friday tallying a $211 million total so far while daily averages the past month have been $364 million.
Rupert Douglas, head of institutional sales at crypto brokerage Koine, is concerned stock markets are in for a correction, potentially hurting crypto as investors look to unload risky assets.
“I think equities are headed lower and if that happens digital assets will get sucked down, too,” Douglas told CoinDesk. “The tech shares are too frothy,” he added
Stock markets globally were mixed to cap off the week:
• In Asia the Nikkei 225 ended the day flat, in the green 0.18% asconcerns about company earnings in the face of the coronavirus pandemic prompted investor caution.
• In Europe the FTSE 100 closed in the red 0.47% asthe U.K. government considers another lockdown due to the coronavirus.
• In the United States the S&P 500 fell 1.7% aslosses in the tech sector dragged down the index, including Apple slipping 3%.
Related:Bitcoin Down as Stocks Fall Over European Coronavirus Fears
Another factor crypto investors are tracking: Bitcoin dominance, a measure of its market capitalization as a percentage of total cryptocurrencies. September has seen bitcoin hit 2020 dominance lows, hovering around 60% Friday.
“So far, bitcoin dominance has largely been sliding downwards since the beginning of 2020,” said Andrew Tu, an executive at crypto quant trading firm Efficient Frontier. “It will be interesting to see if we see a short-term reversion of the bitcoin dominance back upwards.”
ExoAlpha’s Pavageau says decentralized finance, or DeFi, is captivating the crypto market, and that is causing weakness for bitcoin.
Read More:This DeFi Group Wants to Bring Maturity to the Yield Farming Craze
“The market is focused on DeFi. It seems that locking value is also draining liquidity from exchanges as traders are noticing higher slippage when executing in the market,” Pavageau said. “A question to ask might be: Is the total value locked a threat to market liquidity for active traders?”
Ether(ETH), the second-largest cryptocurrency by market capitalization, was down Friday, trading around $379 and slipping 2.3% in 24 hours as of 20:00 UTC (4:00 p.m. ET).
The amount of cryptocurrency “locked” in decentralized exchange Uniswap has crossed $1.5 billion for the first time since Sept. 7. Investors have been quickly plowing crypto into Uniswap’s smart contracts over the past 24 hours, an 80% increase in value locked for that time period.
The dynamics of Uniswap have changed due to the decentralized exchange’s decision to release its own token, known as UNI, said Brian Mosoff, chief executive officer for investment firm Ether Capital.
Read More:Uniswap’s Newly Launched UNI Token Has Already Doubled in Price
“Users are likely locking ETH into Uniswap because they want to farm the $UNI token,” Mosoff said. “Many crypto users see Uniswap as the category leader, and rightfully so given the team and its backers. Users want to participate financially in the growth of the platform.”
Digital assets on theCoinDesk 20are mixed Friday, mostly in the red. Notable winners as of 20:00 UTC (4:00 p.m. ET):
• qtum(QTUM) + 7.2%
• neo(NEO) + 5.7%
• tron(TRX) + 3.2%
Notable losers as of 20:00 UTC (4:00 p.m. ET):
• orchid(OXT) – 6.3%
• chainlink(LINK) – 5.5%
• tezos(XTZ) – 4.6%
Read More:Uniswap’s $5B Token Valuation Cements Comeback From ‘Vampire Mining’
Commodities:
• Oil is flat, in the red 0.10%. Price per barrel of West Texas Intermediate crude: $40.90.
• Gold was in the green 0.34% and at $1,950 as of press time.
Treasurys:
• U.S. Treasury bond yields were mixed Friday. Yields, which move in the opposite direction as price, were down most on the two-year bond, in the red 2.8%.
• Market Wrap: Bitcoin Tests $11K; Uniswap Passes $1.5B Locked
• Market Wrap: Bitcoin Tests $11K; Uniswap Passes $1.5B Locked || Market Wrap: Bitcoin Tests $11K; Uniswap Passes $1.5B Locked: Bitcoin has lost its market momentum. Meanwhile, the amount of cryptocurrency locked in decentralized exchange Uniswap was nearly doubled on Friday. Bitcoin (BTC) trading around $10,867 as of 20:00 UTC (4 p.m. ET). Slipping 0.42% over the previous 24 hours. Bitcoin’s 24-hour range: $10,812-$11,039 BTC below its 10-day and 50-day moving averages, a bearish signal for market technicians. Bitcoin was only able to eclipse the $11,000 level briefly Friday before dropping to as low as $10,812 on spot exchanges such as Coinbase. “Markets are looking weak on drying-up liquidity on exchanges while BTC hardly managed to reach back above the $11,000 level and couldn’t sustain it,” said Jean Baptiste Pavageau, partner at trading firm ExoAlpha. Related: First Mover: Digital Gold Narrative Could Be Bitcoin's Lone Ace as Ethereum Gains Indeed, major USD/BTC exchange volumes are looking feeble, with Friday tallying a $211 million total so far while daily averages the past month have been $364 million. Rupert Douglas, head of institutional sales at crypto brokerage Koine, is concerned stock markets are in for a correction, potentially hurting crypto as investors look to unload risky assets. “I think equities are headed lower and if that happens digital assets will get sucked down, too,” Douglas told CoinDesk. “The tech shares are too frothy,” he added Stock markets globally were mixed to cap off the week: In Asia the Nikkei 225 ended the day flat, in the green 0.18% as concerns about company earnings in the face of the coronavirus pandemic prompted investor caution . In Europe the FTSE 100 closed in the red 0.47% as the U.K. government considers another lockdown due to the coronavirus . In the United States the S&P 500 fell 1.7% as losses in the tech sector dragged down the index, including Apple slipping 3% . Related: Bitcoin Down as Stocks Fall Over European Coronavirus Fears Another factor crypto investors are tracking: Bitcoin dominance, a measure of its market capitalization as a percentage of total cryptocurrencies. September has seen bitcoin hit 2020 dominance lows, hovering around 60% Friday. “So far, bitcoin dominance has largely been sliding downwards since the beginning of 2020,” said Andrew Tu, an executive at crypto quant trading firm Efficient Frontier. “It will be interesting to see if we see a short-term reversion of the bitcoin dominance back upwards.” ExoAlpha’s Pavageau says decentralized finance, or DeFi, is captivating the crypto market, and that is causing weakness for bitcoin. Story continues Read More: This DeFi Group Wants to Bring Maturity to the Yield Farming Craze “The market is focused on DeFi. It seems that locking value is also draining liquidity from exchanges as traders are noticing higher slippage when executing in the market,” Pavageau said. “A question to ask might be: Is the total value locked a threat to market liquidity for active traders?” Uniswap crosses $1.5 billion locked Ether (ETH), the second-largest cryptocurrency by market capitalization, was down Friday, trading around $379 and slipping 2.3% in 24 hours as of 20:00 UTC (4:00 p.m. ET). The amount of cryptocurrency “locked” in decentralized exchange Uniswap has crossed $1.5 billion for the first time since Sept. 7. Investors have been quickly plowing crypto into Uniswap’s smart contracts over the past 24 hours, an 80% increase in value locked for that time period. The dynamics of Uniswap have changed due to the decentralized exchange’s decision to release its own token, known as UNI, said Brian Mosoff, chief executive officer for investment firm Ether Capital. Read More: Uniswap’s Newly Launched UNI Token Has Already Doubled in Price “Users are likely locking ETH into Uniswap because they want to farm the $UNI token,” Mosoff said. “Many crypto users see Uniswap as the category leader, and rightfully so given the team and its backers. Users want to participate financially in the growth of the platform.” Other markets Digital assets on the CoinDesk 20 are mixed Friday, mostly in the red. Notable winners as of 20:00 UTC (4:00 p.m. ET): qtum (QTUM) + 7.2% neo (NEO) + 5.7% tron (TRX) + 3.2% Notable losers as of 20:00 UTC (4:00 p.m. ET): orchid (OXT) – 6.3% chainlink (LINK) – 5.5% tezos (XTZ) – 4.6% Read More: Uniswap’s $5B Token Valuation Cements Comeback From ‘Vampire Mining’ Commodities: Oil is flat, in the red 0.10%. Price per barrel of West Texas Intermediate crude: $40.90. Gold was in the green 0.34% and at $1,950 as of press time. Treasurys: U.S. Treasury bond yields were mixed Friday. Yields, which move in the opposite direction as price, were down most on the two-year bond, in the red 2.8%. Related Stories Market Wrap: Bitcoin Tests $11K; Uniswap Passes $1.5B Locked Market Wrap: Bitcoin Tests $11K; Uniswap Passes $1.5B Locked View comments
[Social Media Buzz]
None available.
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10462.26, 10538.46, 10246.19, 10760.07, 10692.72, 10750.72, 10775.27, 10709.65, 10844.64, 10784.49
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Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 422.82, 422.28, 432.98, 426.62, 430.57, 434.33, 433.44, 430.01, 433.09, 431.96, 429.11, 458.05, 453.23, 447.61, 447.99, 448.43, 435.69, 432.37, 430.31, 364.33, 387.54, 382.30, 387.17, 380.15, 420.23, 410.26, 382.49, 387.49, 402.97, 391.73, 392.15, 394.97, 380.29, 379.47, 378.26, 368.77, 373.06, 374.45, 369.95, 389.59, 386.55, 376.52, 376.62, 373.45, 376.03, 381.65, 379.65, 384.26, 391.86, 407.23, 400.18, 407.49, 416.32, 422.37, 420.79, 437.16, 438.80, 437.75, 420.74, 424.95, 424.54, 432.15, 432.52, 433.50, 437.70, 435.12, 423.99, 421.65, 410.94, 400.57, 407.71, 414.32, 413.97, 414.86, 417.13, 421.69, 411.62, 414.07, 416.44, 416.83, 417.01, 420.62, 409.55, 410.44, 413.76, 413.31, 418.09, 418.04, 416.39, 417.18.
|
[Bitcoin Technical Analysis for 2016-03-25]
Volume: 52560000, RSI (14-day): 51.70, 50-day EMA: 413.09, 200-day EMA: 371.31
[Wider Market Context]
None available.
[Recent News (last 7 days)]
Excitement Builds for Flow CARIFTA Games: ST. GEORGE'S, GRENADA--(Marketwired - Mar 24, 2016) - The excitement is steadily building in the Spice Isle, as the crème de la crème of junior track and field descends on Grenada for the highly anticipated 2016 Flow CARIFTA Games this weekend.
Already, teams from Anguilla, Antigua, the Cayman Islands, Guyana, St. Lucia, Suriname, St. Vincent and the Grenadines, the US Virgin Islands, and Trinidad and Tobago have arrived in St. George's to compete in the 45thedition of the Caribbean's premier athletics meet.
"We know that a lot is expected of us, and as we showcase our Caribbean youth, we want to provide them with an experience that will encourage them to continue in sport. My heart is filled with joy to see that we have reached this point," said Veda Bruno-Victor, Chairperson of the Local Organising Committee.
Flow, the region's leading telecommunications provider, has signed a three-year partnership with the North American, Central American and Caribbean Athletics Association (NACAC) to be the exclusive broadcast partner and title sponsor of the CARIFTA Games.
It means that for the first time in the history of the CARIFTA Games, the event will be broadcast live in High Definition (HD) across the entire Caribbean.
"I am also very grateful that Flow has become our title sponsor for the 2016 CARIFTA Games and for the following two Games to come. We want our young athletes to be seen and remembered, because if they are not in Rio, they will definitely be in Japan (2020 Olympic Games). We want our people to say 'I remember that boy or girl' and it is with great expectation that we look forward to the coming of the CARIFTA Games," added Bruno-Victor.
Flow, which is also the region's exclusive broadcast partner for the upcoming Rio 2016 Olympic Games, has contracted an international production team that will capture, package and present more than twenty hours of live coverage from the River Road venue on the Flow Sports Channel (Channel 190 in Barbados).
"This is a triumphant moment for Caribbean athletics and we very proud to be the exclusive broadcast partner and title sponsor of the 2016 Flow CARIFTA Games," said Denise Williams, Senior Vice President of Communications, Cable & Wireless Communications.
"Since its launch last year, Flow Sports has already become one of the Caribbean's leading sports networks and our partnership with the CARIFTA Games builds upon Flow's other initiatives across the region. In addition to lending financial support, we are also very excited that our partnership with NACAC will allow us the opportunity to broadcast the Games across multiple platforms including our very own Flow Sports."
The 2016 Flow CARIFTA Games will inaugurate Grenada's new National Stadium which was recently redeveloped following the passing of Hurricane Ivan in 2004.
More than 650 athletes and officials will attend the Games from countries including Anguilla, Antigua and Barbuda, Aruba, Bahamas, Barbados, Bermuda, British Virgin Islands, Bonaire, Cayman Islands, Curacao, Dominica, French Guiana, Grenada, Guadeloupe, Guyana, Haiti, Jamaica, Martinique, Saint Kitts and Nevis, Saint Lucia, Saint Maarteen, Saint Vincent and the Grenadines, Suriname, Trinidad and Tobago, Turks and Caicos Islands, and the United States Virgin Islands.
About Cable & Wireless Communications PlcCable & Wireless Communications Plc (CWC) is a full service communications and entertainment provider, operating in Latin America and the Caribbean. With annual sales of over US$2.4 billion, it operates both mobile and fixed networks, supported by submarine and terrestrial optical fibre backhaul capacity. CWC delivers superior high-speed mobile data, broadband and video services. It has leading market positions in Mobile, Fixed Line, Broadband and Video consumer offers. Through its business division, CWC provides data centre hosting, domestic and international managed network services, and customised IT service solutions, utilising cloud technology to serve business and government customers.
The Group also operates a state-of-the-art subsea fibre optic cable network that spans more than 48,000 km -- the most extensive in the region -- as well as 38,000 km of terrestrial fibre providing wholesale and carrier backhaul capacity.
CWC has more than 7,300 employees serving 6.4 million customers (Mobile 4.1m; Fixed Line 1.1m; Video 470k and Broadband 690k) across 42 countries. The Group's leading brands include; LIME and Flow in the Caribbean; BTC in The Bahamas; Mas Movil in Panama; C&W Business and C&W Networks. CWC is the market leader in most products offered and territories served. It is a major contributor to local communities through its corporate social responsibility programmes. Cable & Wireless Communications Plc's shares are quoted on the London Stock Exchange under the ticker CWC. The Group is headquartered in London with its operational hub located in Miami, within close proximity to the Caribbean and Latin America. For more information visit:www.cwc.com.
Image Available:http://www2.marketwire.com/mw/frame_mw?attachid=2983620 || Excitement Builds for Flow CARIFTA Games: ST. GEORGE'S, GRENADA--(Marketwired - Mar 24, 2016) - The excitement is steadily building in the Spice Isle, as the crème de la crème of junior track and field descends on Grenada for the highly anticipated 2016 Flow CARIFTA Games this weekend. Already, teams from Anguilla, Antigua, the Cayman Islands, Guyana, St. Lucia, Suriname, St. Vincent and the Grenadines, the US Virgin Islands, and Trinidad and Tobago have arrived in St. George's to compete in the 45 th edition of the Caribbean's premier athletics meet. "We know that a lot is expected of us, and as we showcase our Caribbean youth, we want to provide them with an experience that will encourage them to continue in sport. My heart is filled with joy to see that we have reached this point," said Veda Bruno-Victor, Chairperson of the Local Organising Committee. Flow, the region's leading telecommunications provider, has signed a three-year partnership with the North American, Central American and Caribbean Athletics Association (NACAC) to be the exclusive broadcast partner and title sponsor of the CARIFTA Games. It means that for the first time in the history of the CARIFTA Games, the event will be broadcast live in High Definition (HD) across the entire Caribbean. "I am also very grateful that Flow has become our title sponsor for the 2016 CARIFTA Games and for the following two Games to come. We want our young athletes to be seen and remembered, because if they are not in Rio, they will definitely be in Japan (2020 Olympic Games). We want our people to say 'I remember that boy or girl' and it is with great expectation that we look forward to the coming of the CARIFTA Games," added Bruno-Victor. Flow, which is also the region's exclusive broadcast partner for the upcoming Rio 2016 Olympic Games, has contracted an international production team that will capture, package and present more than twenty hours of live coverage from the River Road venue on the Flow Sports Channel (Channel 190 in Barbados). Story continues "This is a triumphant moment for Caribbean athletics and we very proud to be the exclusive broadcast partner and title sponsor of the 2016 Flow CARIFTA Games," said Denise Williams, Senior Vice President of Communications, Cable & Wireless Communications. "Since its launch last year, Flow Sports has already become one of the Caribbean's leading sports networks and our partnership with the CARIFTA Games builds upon Flow's other initiatives across the region. In addition to lending financial support, we are also very excited that our partnership with NACAC will allow us the opportunity to broadcast the Games across multiple platforms including our very own Flow Sports." The 2016 Flow CARIFTA Games will inaugurate Grenada's new National Stadium which was recently redeveloped following the passing of Hurricane Ivan in 2004. More than 650 athletes and officials will attend the Games from countries including Anguilla, Antigua and Barbuda, Aruba, Bahamas, Barbados, Bermuda, British Virgin Islands, Bonaire, Cayman Islands, Curacao, Dominica, French Guiana, Grenada, Guadeloupe, Guyana, Haiti, Jamaica, Martinique, Saint Kitts and Nevis, Saint Lucia, Saint Maarteen, Saint Vincent and the Grenadines, Suriname, Trinidad and Tobago, Turks and Caicos Islands, and the United States Virgin Islands. About Cable & Wireless Communications Plc Cable & Wireless Communications Plc (CWC) is a full service communications and entertainment provider, operating in Latin America and the Caribbean. With annual sales of over US$2.4 billion, it operates both mobile and fixed networks, supported by submarine and terrestrial optical fibre backhaul capacity. CWC delivers superior high-speed mobile data, broadband and video services. It has leading market positions in Mobile, Fixed Line, Broadband and Video consumer offers. Through its business division, CWC provides data centre hosting, domestic and international managed network services, and customised IT service solutions, utilising cloud technology to serve business and government customers. The Group also operates a state-of-the-art subsea fibre optic cable network that spans more than 48,000 km -- the most extensive in the region -- as well as 38,000 km of terrestrial fibre providing wholesale and carrier backhaul capacity. CWC has more than 7,300 employees serving 6.4 million customers (Mobile 4.1m; Fixed Line 1.1m; Video 470k and Broadband 690k) across 42 countries. The Group's leading brands include; LIME and Flow in the Caribbean; BTC in The Bahamas; Mas Movil in Panama; C&W Business and C&W Networks. CWC is the market leader in most products offered and territories served. It is a major contributor to local communities through its corporate social responsibility programmes. Cable & Wireless Communications Plc's shares are quoted on the London Stock Exchange under the ticker CWC. The Group is headquartered in London with its operational hub located in Miami, within close proximity to the Caribbean and Latin America. For more information visit: www.cwc.com . Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=2983620 || The biggest names in bitcoin and blockchain in 2016: While critics are still dubious of the future viability of the digital currency bitcoin, at least one group isnt: venture capitalists. VCs pumped more investment into bitcoin and blockchain-related startups last year than in any previous year nearly $1 billion . The investors are keeping this industry hot, even if we havent yet seen any so-called killer app," a mainstream use case for bitcoin that would compel the average person to care. And it isnt just investors leading the chargeits a handful of key executives, thinkers and even policy people . Of course, investors are just as keen on companies exploring the blockchain, which is the decentralized ledger technology on which bitcoin runs. (For a full explainer on blockchain, watch this video .) The hype around the idea of banks using a form of blockchain (without bitcoin) is high, even though a PwC survey this month found that 57% of financial executives say they're unsure about implementing blockchain tech in banking. So, who are the big believers? They are some of the biggest names in bitcoin and blockchain right now. Some are executives at the most well-funded companies, some are investors in those companies. All of them bring clout and connections to bitcoin and the blockchain. Here are 11 of them, curated by Yahoo Finance with input from a number of industry insiders. This is not a list of the hottest bitcoin companies, nor is it a ranking. Its an unofficial look at the individuals bringing mainstream attention to this still-nascent, still-controversial corner of tech. Call them the "bitcoin celebrities" if you like. This list is unranked (alphabetical order). Feel free to debate, dispute and make your own suggestions in the comment section. 1. Marc Andreessen, Andreessen Horowitz Everyone in tech knows Andreessen. He is the co-founder of Netscape, a board member at Facebook, eBay and others, and co-founder of the Silicon Valley powerhouse venture capital firm Andreessen Horowitz. The firms portfolio includes investments in bitcoin wallet company Coinbase (see No. 6), 21 Inc (see No. 9), and TradeBlock. In 2014, he wrote an op-ed in the New York Times boldly titled, Why bitcoin matters. He liberally shares bitcoin and blockchain-related news to his 500,000 Twitter followersa considerable benefit to bitcoiners. Story continues 2. Brian Armstrong, Coinbase When Coinbase, one of the earliest bitcoin startups, raised $75 million in funding in January of last year, it was at the time the biggest fundraising round ever for a bitcoin company. (The figure has since been shattered by 21 Inc.) And Coinbase, which has raised $107 million total, remains arguably the best-known name among all bitcoin startupsit is often where people go to get a bitcoin wallet and to buy their first bitcoins. It was first to market with a bitcoin exchange platform in the U.S. (others waited longer in order to get certain licensing) and Armstrong, its leader, is one of the most sensible thinkers in the industry. ( His post explaining the debate over block size distills the issue clearly.) 3. Adam Back, Blockstream Bitcoin is partially based on a previous system called hashcash, an algorithm that cut down on email spam by requiring proof of work, an early form of what is now bitcoin mining. Back created hashcash. Now the cryptographer, as president of blockchain startup Blockstream, has become one of the loudest voices in the debate over whether, and how, to increase the size limit of transaction bundles (or blocks) on the bitcoin blockchain. His experience in business (he's worked as a consultant to Nokia) and in academia (he has a PhD in distributed systems) have made him a unique authority in the space. Reid Hoffman, the influential co-founder of LinkedIn ( LNKD ), made a personal investment of $21 million in Blockstream, and the company has raised $76 million overall. 4. Vitalik Buterin, Ethereum Ethereum is a bitcoin alternative that some believe has more potential than bitcoin. The platform runs on a decentralized blockchain, like bitcoins, that allows for any peer-to-peer exchange of value, and it uses its own currency, Ether. And the company is a non-profit. Buterin developed the concept in 2013, and in 2014 sold about 60 million ether in a pre-sale , which worked out to $18.4 million at the time. The Ethereum chain went live last summer. Buterin, who is only 22, is seen as a wunderkind; he also helped launch Bitcoin Magazine. 5. Wences Casares, Xapo Reid Hoffman has called Wences Casares the Patient Zero for bitcoin in Silicon Valley. His startup Xapo was one of the earliest bitcoin wallet companies, though it's embroiled in a legal dispute with LifeLock, the company that acquired Casaress previous startup, Lemon. (LifeLock alleges Casares and others created Xapo while still working at Lemon, within LifeLock; he has filed a counter-suit.) Most importantly, PayPal created a new seat on its board of directors for Casares in January. The appointment was seen as big news for bitcoina bitcoin entrepreneur on the board of PayPal was quite a milestone. And Xapo has raised $40 million in funding. 6. Blythe Masters, Digital Asset Holdings Masters is one of a kind in the bitcoin world. She spent nearly 30 years as a JPMorgan ( JPM ) executive, including as head of global commodities, before leaving to run Digital Asset Holdings, a startup that seeks to apply blockchain tech to Wall Street. Its first big client: her former employer. JPMorgan is working with Digital Asset Holdings to test out a use of blockchain to settle transactions faster. DAH has raised $60 million in funding. Because Masters is a known name on Wall Street, her move brought big legitimacy to the space. (And Masters isn't the only female leader in bitcoin : Catheryne Nicholson is CEO of small blockchain startup BlockCypher, which has raised $3.5 million, and Elizabeth Rossiello is CEO of BitPesa, which is working on bitcoin payments in Africa.) 7. Jesse Powell, Kraken Kraken is a bitcoin exchange headquartered in San Francisco, but with most of its activity in Europe. Heres why thats relevant: Last year, when the New York State Department of Financial Services (NYDFS) released its controversial regulatory framework for bitcoin companies, the Bitlicense, Kraken led a charge of bitcoin startups out of New York . The company wont do business in the state, which is a financial risk but a compelling stance against what Powell and others see as restrictive legislation. Kraken, which has raised $6.5 million in funding, has stuck to that vow even as it has ramped up acquisitions lately, buying out Coinsetter , a U.S. exchange that itself had bought out Cavirtex, a Canadian exchange. Kraken's purchase of Coinsetter was the biggest ever M&A deal in the bitcoin space; Coinsetter did operate in New York, but now it won'tthat's how rigid Powell is in his stance. Kraken is continuing to get bigger, but without New York, the very place where so much of the activity around blockchain is centered. 8. David Rutter, R3 R3 CEV is the private firm that rolled out a consortium (the Distributed Ledger Group) for banks interested in exploring blockchain technology. More than 40 of them have signed on, including Bank of America ( BAC ), Citi ( C ), Deutsche Bank ( DB ) and Wells Fargo ( WFC ). And this month R3 announced an extensive test of online distributed ledgers for banks, with help from Chain, Ethereum (see No. 10) and IBM. It is R3 that has attracted institutions whose involvement can turn the abstract notion of "blockchain for banks into a reality. 9. Barry Silbert, Digital Currency Group In 2004, Barry Silbert founded SecondMarket, which allows people to buy stock in non-public companies. He sold the company to Nasdaq last year and has since launched Digital Currency Group, the biggest investment firm in bitcoin and blockchain companies. (It has invested in more than 75.) Most recently, DCG bought the leading bitcoin news site, Coindesk, acquiring the annual bitcoin industry conference Consensus along with it. Almost every time a bitcoin startup announces a new fundraising round, Silbert and DCG are involved. Silbert also launched the Bitcoin Investment Trust ( GBTC ), which trades over-the-counter and is designed to track the price of bitcoin. 10. Balaji Srinivasan, 21 Inc. Srinivasan, the cofounder and CEO of 21 Inc, is also a board partner at Andreessen Horowitz. When 21 first launched publicly, it remained mysterious. It wasnt clear what 21 would be doing, but observers had high expectations: The company raised more than any other bitcoin startup, $121 million in funding. Last year, 21 finally unveiled its first product a small bitcoin personal computer for building apps on top of the bitcoin blockchain. 11. Cameron and Tyler Winklevoss, Winklevoss Capital The Olympic rowers made their name when they sued Facebook ( FB ) cofounder Mark Zuckerberg and got $65 million. Since then, theyve been eager to prove themselves as entrepreneurs, and they have made bitcoin the space in which to prove it. They launched a bitcoin pricing index, Winkdex, in 2014the site is cleanly designed and tracks the price of bitcoin over time. This year, they launched Gemini, a bitcoin trading exchange. Like their pricing index, the design is appealing, but the user base is small. (Gemini is only doing an average $338,000 in trade volume per day, according to data from TradeBlock; by comparison, Kraken sees about $1.3 million in daily volume.) Their bigger ambition: the Winklevoss Bitcoin Trust, a bitcoin ETF, which will trade on the Nasdaq under the symbol COIN but still awaits regulatory approval. There are signs that the bitcoin community doesnt love the Winklevoss brothers yetone prominent bitcoin executive told Fortune , Our industry would prefer that if theres a celebrity spokesperson, it not be them. But the jetsetting duo certainly bring mainstream star power to bitcoin. -- This is the third in a three-part Yahoo Finance series focused on blockchain technology. The first part was about why big banks are expressing interest in the blockchain; the second part was about how you could invest in the blockchain. Daniel Roberts is a writer at Yahoo Finance, covering sports business and technology. Read more: Bitcoin advocacy group scores funding from biggest names in industry Bitcoin industry consolidates: Why Kraken bought Coinsetter Bitcoin's biggest investor bought its biggest news site Here's a sign that PayPal is embracing Bitcoin || The biggest names in bitcoin and blockchain in 2016: While critics are still dubious of the future viability of the digital currency bitcoin, at least one group isn’t: venture capitalists. VCs pumped more investment into bitcoin and blockchain-related startups last year than in any previous year—nearly $1 billion.
The investors are keeping this industry hot, even if we haven’t yet seen any so-called “killer app," a mainstream use case for bitcoin that would compel the average person to care. And it isn’t just investors leading the charge—it’s a handful of key executives, thinkers and evenpolicy people.
Of course, investors are just as keen on companies exploring the blockchain, which is the decentralized ledger technology on which bitcoin runs. (For a full explainer on blockchain,watch this video.) The hype around the idea of banks using a form of blockchain (without bitcoin) is high, even though aPwC survey this monthfound that 57% of financial executives say they're “unsure” about implementing blockchain tech in banking.
So, who are the big believers? They are some of the biggest names in bitcoin and blockchain right now. Some are executives at the most well-funded companies, some are investors in those companies. All of them bring clout and connections to bitcoin and the blockchain. Here are 11 of them, curated by Yahoo Finance with input from a number of industry insiders. This is not a list of the hottest bitcoin companies, nor is it a ranking. It’s an unofficial look at the individuals bringing mainstream attention to this still-nascent, still-controversial corner of tech. Call them the "bitcoin celebrities" if you like.
This list is unranked (alphabetical order). Feel free to debate, dispute and make your own suggestions in the comment section.
Everyone in tech knows Andreessen. He is the co-founder of Netscape, a board member at Facebook, eBay and others, and co-founder of the Silicon Valley powerhouse venture capital firm Andreessen Horowitz. The firm’s portfolio includes investments in bitcoin wallet company Coinbase (see No. 6), 21 Inc (see No. 9), and TradeBlock. In 2014, he wrote anop-ed in the New York Timesboldly titled, “Why bitcoin matters.” He liberally shares bitcoin and blockchain-related news to his 500,000 Twitter followers—a considerable benefit to bitcoiners.
When Coinbase, one of the earliest bitcoin startups, raised $75 million in funding in January of last year, it was at the time the biggest fundraising round ever for a bitcoin company. (The figure has since been shattered by 21 Inc.) And Coinbase, which has raised $107 million total, remains arguably the best-known name among all bitcoin startups—it is often where people go to get a bitcoin wallet and to buy their first bitcoins. It was first to market with a bitcoin exchange platform in the U.S. (others waited longer in order to get certain licensing) and Armstrong, its leader, is one of the most sensible thinkers in the industry. (His postexplaining the debate over block size distills the issue clearly.)
Bitcoin is partially based on a previous system called hashcash, an algorithm that cut down on email spam by requiring proof of work, an early form of what is now bitcoin “mining.” Back created hashcash. Now the cryptographer, as president of blockchain startup Blockstream, has become one of the loudest voices in the debate over whether, and how, to increase the size limit of transaction bundles (or “blocks”) on the bitcoin blockchain. His experience in business (he's worked as a consultant to Nokia) and in academia (he has a PhD in distributed systems) have made him a unique authority in the space. Reid Hoffman, the influential co-founder of LinkedIn (LNKD), made a personal investment of $21 million in Blockstream, and the company has raised $76 million overall.
Ethereum is a bitcoin alternative that some believe has more potential than bitcoin. The platform runs on a decentralized blockchain, like bitcoin’s, that allows for any peer-to-peer exchange of value, and it uses its own currency, Ether. And the company is a non-profit. Buterin developed the concept in 2013, and in 2014sold about 60 million ether in a pre-sale, which worked out to $18.4 million at the time. The Ethereum chain went live last summer. Buterin, who is only 22, is seen as a wunderkind; he also helped launch Bitcoin Magazine.
Reid Hoffmanhas calledWences Casares the “Patient Zero for bitcoin in Silicon Valley.” His startup Xapo was one of the earliest bitcoin wallet companies, though it's embroiled in a legal dispute with LifeLock, the company that acquired Casares’s previous startup, Lemon. (LifeLock alleges Casares and others created Xapo while still working at Lemon, within LifeLock; he has filed a counter-suit.) Most importantly, PayPal created a new seat on its board of directors for Casares in January. The appointment was seen as big news for bitcoin—a bitcoin entrepreneur on the board of PayPal was quite a milestone. And Xapo has raised $40 million in funding.
Masters is one of a kind in the bitcoin world. She spent nearly 30 years as a JPMorgan (JPM) executive, including as head of global commodities, before leaving to run Digital Asset Holdings, a startup that seeks to apply blockchain tech to Wall Street. Its first big client: her former employer. JPMorgan is working with Digital Asset Holdings to test out a use of blockchain to settle transactions faster. DAH has raised $60 million in funding. Because Masters is a known name on Wall Street, her move brought big legitimacy to the space. (And Masters isn't the onlyfemale leader in bitcoin:Catheryne Nicholsonis CEO of small blockchain startup BlockCypher, which has raised $3.5 million, andElizabeth Rossiellois CEO of BitPesa, which is working on bitcoin payments in Africa.)
Kraken is a bitcoin exchange headquartered in San Francisco, but with most of its activity in Europe. Here’s why that’s relevant: Last year, when the New York State Department of Financial Services (NYDFS) released its controversial regulatory framework for bitcoin companies, the Bitlicense, Krakenled a charge of bitcoin startups out of New York. The company won’t do business in the state, which is a financial risk but a compelling stance against what Powell and others see as restrictive legislation. Kraken, which has raised $6.5 million in funding, has stuck to that vow even as it has ramped up acquisitions lately,buying out Coinsetter, a U.S. exchange that itself had bought out Cavirtex, a Canadian exchange. Kraken's purchase of Coinsetter was the biggest ever M&A deal in the bitcoin space; Coinsetter did operate in New York, but now it won't—that's how rigid Powell is in his stance. Kraken is continuing to get bigger, but without New York, the very place where so much of the activity around blockchain is centered.
R3 CEV is the private firm that rolled out a consortium (the Distributed Ledger Group) for banks interested in exploring blockchain technology. More than 40 of them have signed on, including Bank of America (BAC), Citi (C), Deutsche Bank (DB) and Wells Fargo (WFC). And this month R3 announced an extensive test of online distributed ledgers for banks, with help from Chain, Ethereum (see No. 10) and IBM. It is R3 that has attracted institutions whose involvement can turn the abstract notion of "blockchain for banks” into a reality.
In 2004, Barry Silbert founded SecondMarket, which allows people to buy stock in non-public companies. He sold the company to Nasdaq last year and has since launched Digital Currency Group, the biggest investment firm in bitcoin and blockchain companies. (It has invested in more than 75.) Most recently, DCG bought the leading bitcoin news site, Coindesk, acquiring the annual bitcoin industry conference Consensus along with it. Almost every time a bitcoin startup announces a new fundraising round, Silbert and DCG are involved. Silbert also launched the Bitcoin Investment Trust (GBTC), whichtrades over-the-counterand is designed to track the price of bitcoin.
Srinivasan, the cofounder and CEO of 21 Inc, is also a board partner at Andreessen Horowitz. When 21 first launched publicly, it remained mysterious. It wasn’t clear what 21 would be doing, but observers had high expectations: The company raised more than any other bitcoin startup, $121 million in funding. Last year, 21 finally unveiled its first product —a small bitcoin personal computer for building apps on top of the bitcoin blockchain.
The Olympic rowers made their name when they sued Facebook (FB) cofounder Mark Zuckerberg and got $65 million. Since then, they’ve been eager to prove themselves as entrepreneurs, and they have made bitcoin the space in which to prove it. They launched a bitcoin pricing index, Winkdex, in 2014—the site is cleanly designed and tracks the price of bitcoin over time. This year, they launched Gemini, a bitcoin trading exchange. Like their pricing index, the design is appealing, but the user base is small. (Gemini is only doing an average $338,000 in trade volume per day, according to data from TradeBlock; by comparison, Kraken sees about $1.3 million in daily volume.) Their bigger ambition: the Winklevoss Bitcoin Trust, a bitcoin ETF, which will trade on the Nasdaq under the symbol COIN but still awaits regulatory approval. There are signs that the bitcoin community doesn’t love the Winklevoss brothers yet—one prominent bitcoin executivetold Fortune, “Our industry would prefer that if there’s a celebrity spokesperson, it not be them.” But the jetsetting duo certainly bring mainstream star power to bitcoin.
--
This is the third in a three-part Yahoo Finance series focused on blockchain technology. Thefirst partwas about why big banks are expressing interest in the blockchain; thesecond partwas about how you could invest in the blockchain.
Daniel Roberts is a writer at Yahoo Finance, covering sports business and technology.Read more:
Bitcoin advocacy group scores funding from biggest names in industry
Bitcoin industry consolidates: Why Kraken bought Coinsetter
Bitcoin's biggest investor bought its biggest news site
Here's a sign that PayPal is embracing Bitcoin || Your first trade for Thursday: The " Fast Money " traders delivered their final trades of the day. Tim Seymour was a seller of FedEx ( FDX ) . David Seaburg was a buyer of Gilead ( GILD ) . Karen Finerman was a buyer of Foot Locker ( FL ) . Brian Kelly was a seller of the Financial Select Sector SPDR ETF. (NYSE Arca: XLF) Trader disclosure: On March 23, 2016, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Karen Finerman is long BAC, C, FL, GOOG, GOOGL, JPM, LYV, KORS, M, SEDG, SPY puts, URI. Her firm is long ANTM, AAPL, BAC, C, C calls, FINL, GOOG, GOOGL, JPM, JPM calls, KORS, LYV, M, MOH, NRF, PLCE, SPY puts, URI, her firm is short IWM, MDY. Karen Finerman is on the board of GrafTech International. Brian Kelly is long BBRY, Bitcoin, GLD, GLD puts, SH, SLV, TLT, US Dollar, UUP, Yen; he is short Aussie Dollar, BLK, British Pound, CS, DB, Euro, EWH, FRC, Hong Kong Dollar, UBS, SPY, Yuan, 5-Year Note Futures. David Seaburg: Opinions expressed by David Seaburg are solely his own and do not reflect the views and opinions of Cowen Group, Inc.Tim Seymour is long AAPL, AVP, BAC, BBRY, DO, EDC, F, FCX, GM, GOOGL, INTC, NKE, SINA, T, TWTR, VZ, XOM. Tim's firm is long BABA, BIDU, CLF, KO, MCD, MPEL, PEP, PF, SAVE, SBUX, VALE, WMT,YHOO, short HYG, IWM. More From CNBC Top News and Analysis Latest News Video Personal Finance || Your first trade for Thursday: The "Fast Money" traders delivered their final trades of the day.
Tim Seymour was a seller of FedEx(FDX).
David Seaburg was a buyer of Gilead(GILD).
Karen Finerman was a buyer of Foot Locker(FL).
Brian Kelly was a seller of the Financial Select Sector SPDR ETF.(NYSE Arca: XLF)
Trader disclosure: On March 23, 2016, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders:Karen Finerman is long BAC, C, FL, GOOG, GOOGL, JPM, LYV, KORS, M, SEDG, SPY puts, URI. Her firm is long ANTM, AAPL, BAC, C, C calls, FINL, GOOG, GOOGL, JPM, JPM calls, KORS, LYV, M, MOH, NRF, PLCE, SPY puts, URI, her firm is short IWM, MDY. Karen Finerman is on the board of GrafTech International. Brian Kelly is long BBRY, Bitcoin, GLD, GLD puts, SH, SLV, TLT, US Dollar, UUP, Yen; he is short Aussie Dollar, BLK, British Pound, CS, DB, Euro, EWH, FRC, Hong Kong Dollar, UBS, SPY, Yuan, 5-Year Note Futures. David Seaburg: Opinions expressed by David Seaburg are solely his own and do not reflect the views and opinions of Cowen Group, Inc.Tim Seymour is long AAPL, AVP, BAC, BBRY, DO, EDC, F, FCX, GM, GOOGL, INTC, NKE, SINA, T, TWTR, VZ, XOM. Tim's firm is long BABA, BIDU, CLF, KO, MCD, MPEL, PEP, PF, SAVE, SBUX, VALE, WMT,YHOO, short HYG, IWM.
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• Personal Finance || C&W and Friends Donate US$125,000 to Support Literacy and Youth Development: MIAMI, FL--(Marketwired - Mar 23, 2016) - The Advancement of Children Foundation (ACF) in St. Kitts received a significant donation of US$125,000 from funds raised through Cable & Wireless' Annual Charity Golf Event. ACF now joins other organizations including the SOS Children's Village in Jamaica, the Sunshine Achievement Center for under-privileged children in Barbados, the Rainbow Rescue team in Trinidad, orphanages in Dominican Republic and Puerto Rico, and the Wilhelmina Fonds Breast Cancer Center in Curacao, who have benefitted from the event. "Together with our partners, we are extremely pleased to support the Advancement of Children Foundation as this year's Tournament Charity," said John Reid, the President of C&W's Consumer Group, and the organizer of the event. "This donation is a continuation of a tradition that we started nine years ago in Trinidad and Tobago, where we combined our golf tournament with a social development and charity focus." According to Reid, C&W has always been committed to giving back to the countries in which they operate. "We engage in a variety of community development projects across the region to positively affect the communities we serve, and often our employees are front and centre with any CSR initiative. As part of this commitment, we leverage our strong partnerships to help strengthen our programs for social investments. It was a natural step for us to introduce a Golf charity event, where together with our technology, systems and programming partners, we developed another avenue for investing in the community." Naeemah Hazelle, Director of the ACF, stated that her team was very grateful for the support from C&W and Friends. "The significant donation will go a very long way in helping to implement initiatives that will change the lives of children and communities across both islands." ACF was founded eight years ago in response to island-wide gang violence, and is run by a voluntary board who help citizens develop and implement projects to improve the conditions and opportunities for young people. The Foundation supports five local projects per year. Story continues The donations from C&W and friends will be used to support these projects, as well as start an island-wide literacy program, called Caribbean Reads, in seventeen primary schools across the country. The program will include free books for children, a training component, and a dedicated library in each school. A second project will support a life skills centre, a safe space for interaction, counseling and life skills development for vulnerable groups. Reid thanked partners such as HBO-LA, Discovery, Ericsson, Huawei, Anixter and Elemental Technologies for their support in helping C&W carry out this important CSR work in the Caribbean. The tournament brought together over 40 companies that included content and technology partners from the US, Latin America, Canada, UK and the Caribbean. About Cable & Wireless Communications Plc Cable & Wireless Communications Plc (CWC) is a full service communications and entertainment provider, operating in Latin America and the Caribbean. With annual sales of over US$2.4 billion, it operates both mobile and fixed networks, supported by submarine and terrestrial optical fibre backhaul capacity. CWC delivers superior high-speed mobile data, broadband and video services. It has leading market positions in Mobile, Fixed Line, Broadband and Video consumer offers. Through its business division, CWC provides data centre hosting, domestic and international managed network services, and customised IT service solutions, utilising cloud technology to serve business and government customers. The Group also operates a state-of-the-art subsea fibre optic cable network that spans more than 48,000 km -- the most extensive in the region -- as well as 38,000 km of terrestrial fibre providing wholesale and carrier backhaul capacity. CWC has more than 7,300 employees serving 6.4 million customers (Mobile 4.1m; Fixed Line 1.1m; Video 470k and Broadband 690k) across 42 countries. The Group's leading brands include; LIME and Flow in the Caribbean; BTC in The Bahamas; Mas Movil in Panama; C&W Business and C&W Networks. CWC is the market leader in most products offered and territories served. It is a major contributor to local communities through its corporate social responsibility programmes. Cable & Wireless Communications Plc's shares are quoted on the London Stock Exchange under the ticker CWC. The Group is headquartered in London with its operational hub located in Miami, within close proximity to the Caribbean and Latin America. For more information visit: www.cwc.com . Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=2982530 || C&W and Friends Donate US$125,000 to Support Literacy and Youth Development: MIAMI, FL--(Marketwired - Mar 23, 2016) - The Advancement of Children Foundation (ACF) in St. Kitts received a significant donation of US$125,000 from funds raised through Cable & Wireless' Annual Charity Golf Event.
ACF now joins other organizations including the SOS Children's Village in Jamaica, the Sunshine Achievement Center for under-privileged children in Barbados, the Rainbow Rescue team in Trinidad, orphanages in Dominican Republic and Puerto Rico, and the Wilhelmina Fonds Breast Cancer Center in Curacao, who have benefitted from the event.
"Together with our partners, we are extremely pleased to support the Advancement of Children Foundation as this year's Tournament Charity," said John Reid, the President of C&W's Consumer Group, and the organizer of the event. "This donation is a continuation of a tradition that we started nine years ago in Trinidad and Tobago, where we combined our golf tournament with a social development and charity focus."
According to Reid, C&W has always been committed to giving back to the countries in which they operate. "We engage in a variety of community development projects across the region to positively affect the communities we serve, and often our employees are front and centre with any CSR initiative. As part of this commitment, we leverage our strong partnerships to help strengthen our programs for social investments. It was a natural step for us to introduce a Golf charity event, where together with our technology, systems and programming partners, we developed another avenue for investing in the community."
Naeemah Hazelle, Director of the ACF, stated that her team was very grateful for the support from C&W and Friends. "The significant donation will go a very long way in helping to implement initiatives that will change the lives of children and communities across both islands." ACF was founded eight years ago in response to island-wide gang violence, and is run by a voluntary board who help citizens develop and implement projects to improve the conditions and opportunities for young people. The Foundation supports five local projects per year.
The donations from C&W and friends will be used to support these projects, as well as start an island-wide literacy program, called Caribbean Reads, in seventeen primary schools across the country. The program will include free books for children, a training component, and a dedicated library in each school. A second project will support a life skills centre, a safe space for interaction, counseling and life skills development for vulnerable groups.
Reid thanked partners such as HBO-LA, Discovery, Ericsson, Huawei, Anixter and Elemental Technologies for their support in helping C&W carry out this important CSR work in the Caribbean. The tournament brought together over 40 companies that included content and technology partners from the US, Latin America, Canada, UK and the Caribbean.
About Cable & Wireless Communications Plc
Cable & Wireless Communications Plc (CWC) is a full service communications and entertainment provider, operating in Latin America and the Caribbean. With annual sales of over US$2.4 billion, it operates both mobile and fixed networks, supported by submarine and terrestrial optical fibre backhaul capacity. CWC delivers superior high-speed mobile data, broadband and video services. It has leading market positions in Mobile, Fixed Line, Broadband and Video consumer offers. Through its business division, CWC provides data centre hosting, domestic and international managed network services, and customised IT service solutions, utilising cloud technology to serve business and government customers.
The Group also operates a state-of-the-art subsea fibre optic cable network that spans more than 48,000 km -- the most extensive in the region -- as well as 38,000 km of terrestrial fibre providing wholesale and carrier backhaul capacity.
CWC has more than 7,300 employees serving 6.4 million customers (Mobile 4.1m; Fixed Line 1.1m; Video 470k and Broadband 690k) across 42 countries. The Group's leading brands include; LIME and Flow in the Caribbean; BTC in The Bahamas; Mas Movil in Panama; C&W Business and C&W Networks. CWC is the market leader in most products offered and territories served. It is a major contributor to local communities through its corporate social responsibility programmes.
Cable & Wireless Communications Plc's shares are quoted on the London Stock Exchange under the ticker CWC. The Group is headquartered in London with its operational hub located in Miami, within close proximity to the Caribbean and Latin America.
For more information visit:www.cwc.com.
Image Available:http://www2.marketwire.com/mw/frame_mw?attachid=2982530 || NetCents Completes Integration with DigitalX Limited for Fulfillment Services for Digital Currencies: VANCOUVER, BC / ACCESSWIRE / March 23, 2016 / NetCents Technology Inc. (CSE: NC) ("NetCents" or the "Company")is pleased to announce that it has completed its integration with the DigitalXDirect platform with DigitalX Limited ("Digital X").
This integration allows our users to fill orders anywhere, anytime - regardless of transaction size and is further to the announcement made on March 17, 2016, in which NetCents entered into a Master Purchase Agreement with DigitalX, an ASX listed company.
DigitalX is an innovative software solutions company that develops services to leverage blockchain technology in order to make payments accessible on a global scale. The completion of this integration with DigitalX provides our consumers with real-time and secure ordering for Bitcoin liquidity.
"This move streamlines the process in purchasing digital currency. Our users can comfortably transition towards using digital currency in their daily life through our simple and secure platform. Built on the latest and best security practices, consumers have complete peace of mind when purchasing their digital currency," commented Clayton Moore, CEO and Founder of NetCents. "Thanks to our dedicated team of developers, we were able to expedite the integration of the DigitalXDirect software, and our users can now complete their blockchain-backed digital currencies today."
Further information about the Company it is available under its profile on the SEDAR website,www.sedar.com, on the CSE websitewww.thecse.com, on our websitewww.netcents.bizor contact Robert Meister, Capital Markets at Ph: 604.676.5248 or email:Robert.meister@net-cents.com.
On Behalf of the Board of DirectorsNetCents Technology Inc.
Clayton Moore, Founder/CEO
NetCents Technology Inc.Suite 1500, 885 West Georgia StreetVancouver, British Columbia V6C 3E8
TheCanadian Securities Exchangehas neither approved nor disapproved of the contents of this press release. Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Information
This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include regulatory actions, market prices, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
SOURCE:NetCents Technology Inc. || Digatrade to Include Physical Gold Delivery as Withdrawal Option: VANCOUVER, BC / ACCESSWIRE / March 22, 2016 /BITX FINANCIAL CORP (BITXF) and its 100% owned and operated digital asset exchange DIGATRADE (digatrade.com) today are pleased to report that an offering of a new method of withdrawing funds in the form of physical gold to our EU clients will be made available. Gold, for centuries has proved to be a timeless and exceedingly valuable source of capital preservation due to its unwavering value. Additionally, gold has always been an efficient hedge against the inflation and currency risks. Bitcoin has been often described as digital gold so we intent to bring bitcoin and gold a bit closer. The Company is in discussions with an internationally recognized precious metals reseller operator with exclusive working relationships with mints based across Europe including Switzerland, The Austrian Mint and the Münze Österreich, the 800 year old Vienna-based mint.Gold prices will be quoted in USD and updated every 5 minutes. After this withdrawal option has been implemented, purchases will be available with USD. Before submitting an order, USD customers' balances must be available.
More information will be made available as it materializes.
ABOUT DIGATRADE:
DIGATRADE is a global digital asset-currency exchange located in Vancouver, British Columbia, Canada. The Company is owned and operated 100% by Bit-X Financial Corp which is publically listed on the OTC.QB under the trading symbol BITXF. BITXF is a reporting issuer in the Province of British Columbia, Canada with the British Columbia Securities Commission "BCSC" and in the United States with the Securities Exchange Commission "SEC". Digatrade has now become a global platform offering its customers instant card-based transactions worldwide.
CORPORATE CONTACT INFORMATION:
Brad Moynes, CEOBit-X Financial CorpDigaTrade.com838 West Hastings Street, Suite 300Vancouver, BC V6C-0A6CanadaTel: +1(604) 200-0071Fax: +1(604) 200-0072www.digatrade.com
Media inquiries:press@digatrade.com
Forward-Looking Information
This press release contains certain "forward-looking information". All statements, other than statements of historical fact, that address activities, events or development that the Company believes, expects or anticipates will or may occur in the future constitute forward-looking information. This forward-looking information reflects the current expectations or beliefs of the company based on information currently available to the Company. Forward-looking information is subject to a number of significant risks and uncertainties and other factors that may cause the actual results of the Company to differ materially from those discussed in the forward-looking information, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on the Company. Factors that could cause actual results or events to differ materially from current expectations include, but are not limited to, the possibility of unanticipated costs and expenses. Any forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the company disclaims any intent or obligation to update any forward-looking information whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.
SOURCE:Bit-X Financial Corp || Digatrade to Include Physical Gold Delivery as Withdrawal Option: VANCOUVER, BC / ACCESSWIRE / March 22, 2016 / BITX FINANCIAL CORP ( BITXF ) and its 100% owned and operated digital asset exchange DIGATRADE ( digatrade.com ) today are pleased to report that an offering of a new method of withdrawing funds in the form of physical gold to our EU clients will be made available. Gold, for centuries has proved to be a timeless and exceedingly valuable source of capital preservation due to its unwavering value. Additionally, gold has always been an efficient hedge against the inflation and currency risks. Bitcoin has been often described as digital gold so we intent to bring bitcoin and gold a bit closer. The Company is in discussions with an internationally recognized precious metals reseller operator with exclusive working relationships with mints based across Europe including Switzerland, The Austrian Mint and the Münze Österreich, the 800 year old Vienna-based mint. Gold prices will be quoted in USD and updated every 5 minutes. After this withdrawal option has been implemented, purchases will be available with USD. Before submitting an order, USD customers' balances must be available. More information will be made available as it materializes. ABOUT DIGATRADE: DIGATRADE is a global digital asset-currency exchange located in Vancouver, British Columbia, Canada. The Company is owned and operated 100% by Bit-X Financial Corp which is publically listed on the OTC.QB under the trading symbol BITXF. BITXF is a reporting issuer in the Province of British Columbia, Canada with the British Columbia Securities Commission "BCSC" and in the United States with the Securities Exchange Commission "SEC". Digatrade has now become a global platform offering its customers instant card-based transactions worldwide. CORPORATE CONTACT INFORMATION: Brad Moynes, CEO Bit-X Financial Corp DigaTrade.com 838 West Hastings Street, Suite 300 Vancouver, BC V6C-0A6 Canada Tel: +1(604) 200-0071 Fax: +1(604) 200-0072 www.digatrade.com Story continues Media inquiries: press@digatrade.com Forward-Looking Information This press release contains certain "forward-looking information". All statements, other than statements of historical fact, that address activities, events or development that the Company believes, expects or anticipates will or may occur in the future constitute forward-looking information. This forward-looking information reflects the current expectations or beliefs of the company based on information currently available to the Company. Forward-looking information is subject to a number of significant risks and uncertainties and other factors that may cause the actual results of the Company to differ materially from those discussed in the forward-looking information, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on the Company. Factors that could cause actual results or events to differ materially from current expectations include, but are not limited to, the possibility of unanticipated costs and expenses. Any forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the company disclaims any intent or obligation to update any forward-looking information whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein. SOURCE: Bit-X Financial Corp || Bitcoin finds room in small funds; large institutions still on sidelines: By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - Digital currency bitcoin has found favour among smaller investors, thanks to the availability of funds designed to invest in it, but remains a niche among the larger investing community. Investors at some family offices, smaller mutual funds, and traders at hedge funds say bitcoin has helped returns and demonstrated a low correlation with other asset classes. Hopes that bitcoin would become a broadly used alternative to other currencies helped buoy its price to more than $1,000 (£692) in December 2013, when its market capitalisation was $13 billion. But the market cap has retreated since then, to about $6.4 billion as of Thursday. Early enthusiasts for the crypto-currency were drawn to its revolutionary ideals of transparency and a lack of central or official control. The risks of dealing in bitcoin were laid bare in 2013 when Tokyo-based exchange Mt Gox collapsed after admitting it had lost the equivalent of hundreds of millions of dollars of investor funds. The currency's earlier ties to gambling and criminal websites did not endear it to traditional investors. Jeremy Millar, founder and managing partner at Ledger Partners in London, estimated that 50 to 90 percent of bitcoin's current $6.4 billion market cap is held by near-institutional money such as individuals at hedge funds and family offices. That has not changed over the last two years. He does not have an estimate for institutional investment holdings of bitcoin. But he said they are likely to be insignificant, compared with the smaller investors who have fewer restrictions about fund allocation. "What is clear though is that over the last two years, bitcoin has emerged from its 'hacktivist' origins to a more institutionalized ecosystem which includes the participation of hedge funds, traders, and professional investors," said Millar. BITCOIN IN PORTFOLIOS Funds dedicated to investing in bitcoin are relatively small. The largest is the Pantera Bitcoin Fund, a $160 million hedge fund founded by Dan Morehead, formerly of Tiger Management, available to institutions and individuals who invest $50,000 or more. Story continues According to a Pantera Bitcoin Fund brochure, the fund was launched in July 2013, a period when bitcoin traded at around $65. On Thursday, it traded at $418.80, a gain of more than 500 percent from July 2013. The firm did not comment on fund performance or its investors. The majority of the Pantera Fund's investors are family offices and high net worth individuals, said two people familiar with the fund. The Grayscale Bitcoin Investment Trust, with assets of more than $60 million, is another vehicle for investors. GBTC is backed by bitcoin advocate Barry Silbert and his Digital Currency Group. It is the only publicly traded U.S. security in the over-the-counter market invested in bitcoin. Volume is thin, with a few thousand shares traded daily, according to Thomson Reuters data. Antonis Polemitis, managing director at Ledra Capital in New York, a family office specializing in education and technology, said that on average, clients have allocated 1 to 3 percent of their portfolios to bitcoin. "A lot of people will take that bet with 1 percent of their assets," he said. "A 1 percent loss does not change anyone's life in any way. If it goes up 10 times, then you get to feel very smart." Some investment managers say having bitcoin in portfolios has helped performance. ARK Invest, which manages four exchange-traded funds with $240 million in assets, holds GBTC in its $12 million Next Generation Internet ETF and the $7 million ARK Innovation ETF. Chris Burniske, analyst and blockchain products lead at ARK Invest in New York, said since investing in September 2015, GBTC has contributed 67 basis points to the Next Generation Internet ETF's return and 62 basis points to the ARK Innovation ETF. For 2015, the Next Generation ETF posted a 15.29 percent return, while the Innovation ETF had 3.76 percent gains. For Kingsbridge Wealth Management, a multifamily office in Las Vegas with $150 million in assets, GBTC has become a great diversifier because so far it has had a low correlation with other asset classes, said David Dunn, the firm's founder and chief investment officer. The firm has about $1.7 million invested in bitcoin and its underlying technology, the blockchain, Dunn said. (Editing by David Gaffen and Matthew Lewis) || Bitcoin finds room in small funds; large institutions still on sidelines: By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - Digital currency bitcoin has found favour among smaller investors, thanks to the availability of funds designed to invest in it, but remains a niche among the larger investing community. Investors at some family offices, smaller mutual funds, and traders at hedge funds say bitcoin has helped returns and demonstrated a low correlation with other asset classes. Hopes that bitcoin would become a broadly used alternative to other currencies helped buoy its price to more than $1,000 (£692) in December 2013, when its market capitalisation was $13 billion. But the market cap has retreated since then, to about $6.4 billion as of Thursday. Early enthusiasts for the crypto-currency were drawn to its revolutionary ideals of transparency and a lack of central or official control. The risks of dealing in bitcoin were laid bare in 2013 when Tokyo-based exchange Mt Gox collapsed after admitting it had lost the equivalent of hundreds of millions of dollars of investor funds. The currency's earlier ties to gambling and criminal websites did not endear it to traditional investors. Jeremy Millar, founder and managing partner at Ledger Partners in London, estimated that 50 to 90 percent of bitcoin's current $6.4 billion market cap is held by near-institutional money such as individuals at hedge funds and family offices. That has not changed over the last two years. He does not have an estimate for institutional investment holdings of bitcoin. But he said they are likely to be insignificant, compared with the smaller investors who have fewer restrictions about fund allocation. "What is clear though is that over the last two years, bitcoin has emerged from its 'hacktivist' origins to a more institutionalized ecosystem which includes the participation of hedge funds, traders, and professional investors," said Millar. BITCOIN IN PORTFOLIOS Funds dedicated to investing in bitcoin are relatively small. The largest is the Pantera Bitcoin Fund, a $160 million hedge fund founded by Dan Morehead, formerly of Tiger Management, available to institutions and individuals who invest $50,000 or more. Story continues According to a Pantera Bitcoin Fund brochure, the fund was launched in July 2013, a period when bitcoin traded at around $65. On Thursday, it traded at $418.80, a gain of more than 500 percent from July 2013. The firm did not comment on fund performance or its investors. The majority of the Pantera Fund's investors are family offices and high net worth individuals, said two people familiar with the fund. The Grayscale Bitcoin Investment Trust, with assets of more than $60 million, is another vehicle for investors. GBTC is backed by bitcoin advocate Barry Silbert and his Digital Currency Group. It is the only publicly traded U.S. security in the over-the-counter market invested in bitcoin. Volume is thin, with a few thousand shares traded daily, according to Thomson Reuters data. Antonis Polemitis, managing director at Ledra Capital in New York, a family office specializing in education and technology, said that on average, clients have allocated 1 to 3 percent of their portfolios to bitcoin. "A lot of people will take that bet with 1 percent of their assets," he said. "A 1 percent loss does not change anyone's life in any way. If it goes up 10 times, then you get to feel very smart." Some investment managers say having bitcoin in portfolios has helped performance. ARK Invest, which manages four exchange-traded funds with $240 million in assets, holds GBTC in its $12 million Next Generation Internet ETF and the $7 million ARK Innovation ETF. Chris Burniske, analyst and blockchain products lead at ARK Invest in New York, said since investing in September 2015, GBTC has contributed 67 basis points to the Next Generation Internet ETF's return and 62 basis points to the ARK Innovation ETF. For 2015, the Next Generation ETF posted a 15.29 percent return, while the Innovation ETF had 3.76 percent gains. For Kingsbridge Wealth Management, a multifamily office in Las Vegas with $150 million in assets, GBTC has become a great diversifier because so far it has had a low correlation with other asset classes, said David Dunn, the firm's founder and chief investment officer. The firm has about $1.7 million invested in bitcoin and its underlying technology, the blockchain, Dunn said. (Editing by David Gaffen and Matthew Lewis) || Bitcoin finds room in small funds; large institutions still on sidelines: By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - Digital currency bitcoin has found favour among smaller investors, thanks to the availability of funds designed to invest in it, but remains a niche among the larger investing community. Investors at some family offices, smaller mutual funds, and traders at hedge funds say bitcoin has helped returns and demonstrated a low correlation with other asset classes. Hopes that bitcoin would become a broadly used alternative to other currencies helped buoy its price to more than $1,000 (£692) in December 2013, when its market capitalisation was $13 billion. But the market cap has retreated since then, to about $6.4 billion as of Thursday. Early enthusiasts for the crypto-currency were drawn to its revolutionary ideals of transparency and a lack of central or official control. The risks of dealing in bitcoin were laid bare in 2013 when Tokyo-based exchange Mt Gox collapsed after admitting it had lost the equivalent of hundreds of millions of dollars of investor funds. The currency's earlier ties to gambling and criminal websites did not endear it to traditional investors. Jeremy Millar, founder and managing partner at Ledger Partners in London, estimated that 50 to 90 percent of bitcoin's current $6.4 billion market cap is held by near-institutional money such as individuals at hedge funds and family offices. That has not changed over the last two years. He does not have an estimate for institutional investment holdings of bitcoin. But he said they are likely to be insignificant, compared with the smaller investors who have fewer restrictions about fund allocation. "What is clear though is that over the last two years, bitcoin has emerged from its 'hacktivist' origins to a more institutionalized ecosystem which includes the participation of hedge funds, traders, and professional investors," said Millar. BITCOIN IN PORTFOLIOS Funds dedicated to investing in bitcoin are relatively small. The largest is the Pantera Bitcoin Fund, a $160 million hedge fund founded by Dan Morehead, formerly of Tiger Management, available to institutions and individuals who invest $50,000 or more. Story continues According to a Pantera Bitcoin Fund brochure, the fund was launched in July 2013, a period when bitcoin traded at around $65. On Thursday, it traded at $418.80, a gain of more than 500 percent from July 2013. The firm did not comment on fund performance or its investors. The majority of the Pantera Fund's investors are family offices and high net worth individuals, said two people familiar with the fund. The Grayscale Bitcoin Investment Trust, with assets of more than $60 million, is another vehicle for investors. GBTC is backed by bitcoin advocate Barry Silbert and his Digital Currency Group. It is the only publicly traded U.S. security in the over-the-counter market invested in bitcoin. Volume is thin, with a few thousand shares traded daily, according to Thomson Reuters data. Antonis Polemitis, managing director at Ledra Capital in New York, a family office specializing in education and technology, said that on average, clients have allocated 1 to 3 percent of their portfolios to bitcoin. "A lot of people will take that bet with 1 percent of their assets," he said. "A 1 percent loss does not change anyone's life in any way. If it goes up 10 times, then you get to feel very smart." Some investment managers say having bitcoin in portfolios has helped performance. ARK Invest, which manages four exchange-traded funds with $240 million in assets, holds GBTC in its $12 million Next Generation Internet ETF and the $7 million ARK Innovation ETF. Chris Burniske, analyst and blockchain products lead at ARK Invest in New York, said since investing in September 2015, GBTC has contributed 67 basis points to the Next Generation Internet ETF's return and 62 basis points to the ARK Innovation ETF. For 2015, the Next Generation ETF posted a 15.29 percent return, while the Innovation ETF had 3.76 percent gains. For Kingsbridge Wealth Management, a multifamily office in Las Vegas with $150 million in assets, GBTC has become a great diversifier because so far it has had a low correlation with other asset classes, said David Dunn, the firm's founder and chief investment officer. The firm has about $1.7 million invested in bitcoin and its underlying technology, the blockchain, Dunn said. (Editing by David Gaffen and Matthew Lewis) || Bitcoin finds room in small funds; large institutions still on sidelines: By Gertrude Chavez-Dreyfuss
NEW YORK (Reuters) - Digital currency bitcoin has found favor among smaller investors, thanks to the availability of funds designed to invest in it, but remains a niche among the larger investing community.
Investors at some family offices, smaller mutual funds, and traders at hedge funds say bitcoin has helped returns and demonstrated a low correlation with other asset classes.
Hopes that bitcoin would become a broadly used alternative to other currencies helped buoy its price to more than $1,000 in December 2013, when its market capitalization was $13 billion.
But the market cap has retreated since then, to about $6.4 billion as of Thursday.
Early enthusiasts for the crypto-currency were drawn to its revolutionary ideals of transparency and a lack of central or official control. The risks of dealing in bitcoin were laid bare in 2013 when Tokyo-based exchange Mt Gox collapsed after admitting it had lost the equivalent of hundreds of millions of dollars of investor funds.
The currency's earlier ties to gambling and criminal websites did not endear it to traditional investors.
Jeremy Millar, founder and managing partner at Ledger Partners in London, estimated that 50 to 90 percent of bitcoin's current $6.4 billion market cap is held by near-institutional money such as individuals at hedge funds and family offices. That has not changed over the last two years.
He does not have an estimate for institutional investment holdings of bitcoin. But he said they are likely to be insignificant, compared with the smaller investors who have fewer restrictions about fund allocation.
"What is clear though is that over the last two years, bitcoin has emerged from its 'hacktivist' origins to a more institutionalized ecosystem which includes the participation of hedge funds, traders, and professional investors," said Millar.
BITCOIN IN PORTFOLIOS
Funds dedicated to investing in bitcoin are relatively small. The largest is the Pantera Bitcoin Fund, a $160 million hedge fund founded by Dan Morehead, formerly of Tiger Management, available to institutions and individuals who invest $50,000 or more.
According to a Pantera Bitcoin Fund brochure, the fund was launched in July 2013, a period when bitcoin (BTC=BTSP) traded at around $65. On Thursday, it traded at $418.80, a gain of more than 500 percent from July 2013. The firm did not comment on fund performance or its investors.
The majority of the Pantera Fund's investors are family offices and high net worth individuals, said two people familiar with the fund.
The Grayscale Bitcoin Investment Trust, with assets of more than $60 million, is another vehicle for investors. GBTC is backed by bitcoin advocate Barry Silbert and his Digital Currency Group.
It is the only publicly traded U.S. security in the over-the-counter market invested in bitcoin. Volume is thin, with a few thousand shares traded daily, according to Thomson Reuters data.
Antonis Polemitis, managing director at Ledra Capital in New York, a family office specializing in education and technology, said that on average, clients have allocated 1 to 3 percent of their portfolios to bitcoin.
"A lot of people will take that bet with 1 percent of their assets," he said. "A 1 percent loss does not change anyone's life in any way. If it goes up 10 times, then you get to feel very smart."
Some investment managers say having bitcoin in portfolios has helped performance.
ARK Invest, which manages four exchange-traded funds with $240 million in assets, holds GBTC in its $12 million Next Generation Internet ETF and the $7 million ARK Innovation ETF.
Chris Burniske, analyst and blockchain products lead at ARK Invest in New York, said since investing in September 2015, GBTC has contributed 67 basis points to the Next Generation Internet ETF's return and 62 basis points to the ARK Innovation ETF.
For 2015, the Next Generation ETF posted a 15.29 percent return, while the Innovation ETF had 3.76 percent gains.
For Kingsbridge Wealth Management, a multifamily office in Las Vegas with $150 million in assets, GBTC has become a great diversifier because so far it has had a low correlation with other asset classes, said David Dunn, the firm's founder and chief investment officer. The firm has about $1.7 million invested in bitcoin and its underlying technology, the blockchain, Dunn said.
(Editing by David Gaffen and Matthew Lewis) || Bitcoin finds room in small funds; large institutions still on sidelines: By Gertrude Chavez-Dreyfuss
NEW YORK (Reuters) - Digital currency bitcoin has found favor among smaller investors, thanks to the availability of funds designed to invest in it, but remains a niche among the larger investing community.
Investors at some family offices, smaller mutual funds, and traders at hedge funds say bitcoin has helped returns and demonstrated a low correlation with other asset classes.
Hopes that bitcoin would become a broadly used alternative to other currencies helped buoy its price to more than $1,000 in December 2013, when its market capitalization was $13 billion.
But the market cap has retreated since then, to about $6.4 billion as of Thursday.
Early enthusiasts for the crypto-currency were drawn to its revolutionary ideals of transparency and a lack of central or official control. The risks of dealing in bitcoin were laid bare in 2013 when Tokyo-based exchange Mt Gox collapsed after admitting it had lost the equivalent of hundreds of millions of dollars of investor funds.
The currency's earlier ties to gambling and criminal websites did not endear it to traditional investors.
Jeremy Millar, founder and managing partner at Ledger Partners in London, estimated that 50 to 90 percent of bitcoin's current $6.4 billion market cap is held by near-institutional money such as individuals at hedge funds and family offices. That has not changed over the last two years.
He does not have an estimate for institutional investment holdings of bitcoin. But he said they are likely to be insignificant, compared with the smaller investors who have fewer restrictions about fund allocation.
"What is clear though is that over the last two years, bitcoin has emerged from its 'hacktivist' origins to a more institutionalized ecosystem which includes the participation of hedge funds, traders, and professional investors," said Millar.
BITCOIN IN PORTFOLIOS
Funds dedicated to investing in bitcoin are relatively small. The largest is the Pantera Bitcoin Fund, a $160 million hedge fund founded by Dan Morehead, formerly of Tiger Management, available to institutions and individuals who invest $50,000 or more.
According to a Pantera Bitcoin Fund brochure, the fund was launched in July 2013, a period when bitcoin <BTC=BTSP> traded at around $65. On Thursday, it traded at $418.80, a gain of more than 500 percent from July 2013. The firm did not comment on fund performance or its investors.
The majority of the Pantera Fund's investors are family offices and high net worth individuals, said two people familiar with the fund.
The Grayscale Bitcoin Investment Trust, with assets of more than $60 million, is another vehicle for investors. GBTC is backed by bitcoin advocate Barry Silbert and his Digital Currency Group.
It is the only publicly traded U.S. security in the over-the-counter market invested in bitcoin. Volume is thin, with a few thousand shares traded daily, according to Thomson Reuters data.
Antonis Polemitis, managing director at Ledra Capital in New York, a family office specializing in education and technology, said that on average, clients have allocated 1 to 3 percent of their portfolios to bitcoin.
"A lot of people will take that bet with 1 percent of their assets," he said. "A 1 percent loss does not change anyone's life in any way. If it goes up 10 times, then you get to feel very smart."
Some investment managers say having bitcoin in portfolios has helped performance.
ARK Invest, which manages four exchange-traded funds with $240 million in assets, holds GBTC in its $12 million Next Generation Internet ETF and the $7 million ARK Innovation ETF.
Chris Burniske, analyst and blockchain products lead at ARK Invest in New York, said since investing in September 2015, GBTC has contributed 67 basis points to the Next Generation Internet ETF's return and 62 basis points to the ARK Innovation ETF.
For 2015, the Next Generation ETF posted a 15.29 percent return, while the Innovation ETF had 3.76 percent gains.
For Kingsbridge Wealth Management, a multifamily office in Las Vegas with $150 million in assets, GBTC has become a great diversifier because so far it has had a low correlation with other asset classes, said David Dunn, the firm's founder and chief investment officer. The firm has about $1.7 million invested in bitcoin and its underlying technology, the blockchain, Dunn said.
(Editing by David Gaffen and Matthew Lewis) || Bitcoin finds room in small funds; large institutions still on sidelines: By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - Digital currency bitcoin has found favor among smaller investors, thanks to the availability of funds designed to invest in it, but remains a niche among the larger investing community. Investors at some family offices, smaller mutual funds, and traders at hedge funds say bitcoin has helped returns and demonstrated a low correlation with other asset classes. Hopes that bitcoin would become a broadly used alternative to other currencies helped buoy its price to more than $1,000 in December 2013, when its market capitalization was $13 billion. But the market cap has retreated since then, to about $6.4 billion as of Thursday. Early enthusiasts for the crypto-currency were drawn to its revolutionary ideals of transparency and a lack of central or official control. The risks of dealing in bitcoin were laid bare in 2013 when Tokyo-based exchange Mt Gox collapsed after admitting it had lost the equivalent of hundreds of millions of dollars of investor funds. The currency's earlier ties to gambling and criminal websites did not endear it to traditional investors. Jeremy Millar, founder and managing partner at Ledger Partners in London, estimated that 50 to 90 percent of bitcoin's current $6.4 billion market cap is held by near-institutional money such as individuals at hedge funds and family offices. That has not changed over the last two years. He does not have an estimate for institutional investment holdings of bitcoin. But he said they are likely to be insignificant, compared with the smaller investors who have fewer restrictions about fund allocation. "What is clear though is that over the last two years, bitcoin has emerged from its 'hacktivist' origins to a more institutionalized ecosystem which includes the participation of hedge funds, traders, and professional investors," said Millar. BITCOIN IN PORTFOLIOS Funds dedicated to investing in bitcoin are relatively small. The largest is the Pantera Bitcoin Fund, a $160 million hedge fund founded by Dan Morehead, formerly of Tiger Management, available to institutions and individuals who invest $50,000 or more. Story continues According to a Pantera Bitcoin Fund brochure, the fund was launched in July 2013, a period when bitcoin (BTC=BTSP) traded at around $65. On Thursday, it traded at $418.80, a gain of more than 500 percent from July 2013. The firm did not comment on fund performance or its investors. The majority of the Pantera Fund's investors are family offices and high net worth individuals, said two people familiar with the fund. The Grayscale Bitcoin Investment Trust, with assets of more than $60 million, is another vehicle for investors. GBTC is backed by bitcoin advocate Barry Silbert and his Digital Currency Group. It is the only publicly traded U.S. security in the over-the-counter market invested in bitcoin. Volume is thin, with a few thousand shares traded daily, according to Thomson Reuters data. Antonis Polemitis, managing director at Ledra Capital in New York, a family office specializing in education and technology, said that on average, clients have allocated 1 to 3 percent of their portfolios to bitcoin. "A lot of people will take that bet with 1 percent of their assets," he said. "A 1 percent loss does not change anyone's life in any way. If it goes up 10 times, then you get to feel very smart." Some investment managers say having bitcoin in portfolios has helped performance. ARK Invest, which manages four exchange-traded funds with $240 million in assets, holds GBTC in its $12 million Next Generation Internet ETF and the $7 million ARK Innovation ETF. Chris Burniske, analyst and blockchain products lead at ARK Invest in New York, said since investing in September 2015, GBTC has contributed 67 basis points to the Next Generation Internet ETF's return and 62 basis points to the ARK Innovation ETF. For 2015, the Next Generation ETF posted a 15.29 percent return, while the Innovation ETF had 3.76 percent gains. For Kingsbridge Wealth Management, a multifamily office in Las Vegas with $150 million in assets, GBTC has become a great diversifier because so far it has had a low correlation with other asset classes, said David Dunn, the firm's founder and chief investment officer. The firm has about $1.7 million invested in bitcoin and its underlying technology, the blockchain, Dunn said. (Editing by David Gaffen and Matthew Lewis) || Bitcoin finds room in small funds; large institutions still on sidelines: By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - Digital currency bitcoin has found favor among smaller investors, thanks to the availability of funds designed to invest in it, but remains a niche among the larger investing community. Investors at some family offices, smaller mutual funds, and traders at hedge funds say bitcoin has helped returns and demonstrated a low correlation with other asset classes. Hopes that bitcoin would become a broadly used alternative to other currencies helped buoy its price to more than $1,000 in December 2013, when its market capitalization was $13 billion. But the market cap has retreated since then, to about $6.4 billion as of Thursday. Early enthusiasts for the crypto-currency were drawn to its revolutionary ideals of transparency and a lack of central or official control. The risks of dealing in bitcoin were laid bare in 2013 when Tokyo-based exchange Mt Gox collapsed after admitting it had lost the equivalent of hundreds of millions of dollars of investor funds. The currency's earlier ties to gambling and criminal websites did not endear it to traditional investors. Jeremy Millar, founder and managing partner at Ledger Partners in London, estimated that 50 to 90 percent of bitcoin's current $6.4 billion market cap is held by near-institutional money such as individuals at hedge funds and family offices. That has not changed over the last two years. He does not have an estimate for institutional investment holdings of bitcoin. But he said they are likely to be insignificant, compared with the smaller investors who have fewer restrictions about fund allocation. "What is clear though is that over the last two years, bitcoin has emerged from its 'hacktivist' origins to a more institutionalized ecosystem which includes the participation of hedge funds, traders, and professional investors," said Millar. BITCOIN IN PORTFOLIOS Funds dedicated to investing in bitcoin are relatively small. The largest is the Pantera Bitcoin Fund, a $160 million hedge fund founded by Dan Morehead, formerly of Tiger Management, available to institutions and individuals who invest $50,000 or more. Story continues According to a Pantera Bitcoin Fund brochure, the fund was launched in July 2013, a period when bitcoin <BTC=BTSP> traded at around $65. On Thursday, it traded at $418.80, a gain of more than 500 percent from July 2013. The firm did not comment on fund performance or its investors. The majority of the Pantera Fund's investors are family offices and high net worth individuals, said two people familiar with the fund. The Grayscale Bitcoin Investment Trust, with assets of more than $60 million, is another vehicle for investors. GBTC is backed by bitcoin advocate Barry Silbert and his Digital Currency Group. It is the only publicly traded U.S. security in the over-the-counter market invested in bitcoin. Volume is thin, with a few thousand shares traded daily, according to Thomson Reuters data. Antonis Polemitis, managing director at Ledra Capital in New York, a family office specializing in education and technology, said that on average, clients have allocated 1 to 3 percent of their portfolios to bitcoin. "A lot of people will take that bet with 1 percent of their assets," he said. "A 1 percent loss does not change anyone's life in any way. If it goes up 10 times, then you get to feel very smart." Some investment managers say having bitcoin in portfolios has helped performance. ARK Invest, which manages four exchange-traded funds with $240 million in assets, holds GBTC in its $12 million Next Generation Internet ETF and the $7 million ARK Innovation ETF. Chris Burniske, analyst and blockchain products lead at ARK Invest in New York, said since investing in September 2015, GBTC has contributed 67 basis points to the Next Generation Internet ETF's return and 62 basis points to the ARK Innovation ETF. For 2015, the Next Generation ETF posted a 15.29 percent return, while the Innovation ETF had 3.76 percent gains. For Kingsbridge Wealth Management, a multifamily office in Las Vegas with $150 million in assets, GBTC has become a great diversifier because so far it has had a low correlation with other asset classes, said David Dunn, the firm's founder and chief investment officer. The firm has about $1.7 million invested in bitcoin and its underlying technology, the blockchain, Dunn said. (Editing by David Gaffen and Matthew Lewis) || Bitcoin finds room in small funds; large institutions still on sidelines: By Gertrude Chavez-Dreyfuss
NEW YORK (Reuters) - Digital currency bitcoin has found favor among smaller investors, thanks to the availability of funds designed to invest in it, but remains a niche among the larger investing community.
Investors at some family offices, smaller mutual funds, and traders at hedge funds say bitcoin has helped returns and demonstrated a low correlation with other asset classes.
Hopes that bitcoin would become a broadly used alternative to other currencies helped buoy its price to more than $1,000 in December 2013, when its market capitalization was $13 billion.
But the market cap has retreated since then, to about $6.4 billion as of Thursday.
Early enthusiasts for the crypto-currency were drawn to its revolutionary ideals of transparency and a lack of central or official control. The risks of dealing in bitcoin were laid bare in 2013 when Tokyo-based exchange Mt Gox collapsed after admitting it had lost the equivalent of hundreds of millions of dollars of investor funds.
The currency's earlier ties to gambling and criminal websites did not endear it to traditional investors.
Jeremy Millar, founder and managing partner at Ledger Partners in London, estimated that 50 to 90 percent of bitcoin's current $6.4 billion market cap is held by near-institutional money such as individuals at hedge funds and family offices. That has not changed over the last two years.
He does not have an estimate for institutional investment holdings of bitcoin. But he said they are likely to be insignificant, compared with the smaller investors who have fewer restrictions about fund allocation.
"What is clear though is that over the last two years, bitcoin has emerged from its 'hacktivist' origins to a more institutionalized ecosystem which includes the participation of hedge funds, traders, and professional investors," said Millar.
BITCOIN IN PORTFOLIOS
Funds dedicated to investing in bitcoin are relatively small. The largest is the Pantera Bitcoin Fund, a $160 million hedge fund founded by Dan Morehead, formerly of Tiger Management, available to institutions and individuals who invest $50,000 or more.
According to a Pantera Bitcoin Fund brochure, the fund was launched in July 2013, a period when bitcoin (BTC=BTSP) traded at around $65. On Thursday, it traded at $418.80, a gain of more than 500 percent from July 2013. The firm did not comment on fund performance or its investors.
The majority of the Pantera Fund's investors are family offices and high net worth individuals, said two people familiar with the fund.
The Grayscale Bitcoin Investment Trust, with assets of more than $60 million, is another vehicle for investors. GBTC is backed by bitcoin advocate Barry Silbert and his Digital Currency Group.
It is the only publicly traded U.S. security in the over-the-counter market invested in bitcoin. Volume is thin, with a few thousand shares traded daily, according to Thomson Reuters data.
Antonis Polemitis, managing director at Ledra Capital in New York, a family office specializing in education and technology, said that on average, clients have allocated 1 to 3 percent of their portfolios to bitcoin.
"A lot of people will take that bet with 1 percent of their assets," he said. "A 1 percent loss does not change anyone's life in any way. If it goes up 10 times, then you get to feel very smart."
Some investment managers say having bitcoin in portfolios has helped performance.
ARK Invest, which manages four exchange-traded funds with $240 million in assets, holds GBTC in its $12 million Next Generation Internet ETF and the $7 million ARK Innovation ETF.
Chris Burniske, analyst and blockchain products lead at ARK Invest in New York, said since investing in September 2015, GBTC has contributed 67 basis points to the Next Generation Internet ETF's return and 62 basis points to the ARK Innovation ETF.
For 2015, the Next Generation ETF posted a 15.29 percent return, while the Innovation ETF had 3.76 percent gains.
For Kingsbridge Wealth Management, a multifamily office in Las Vegas with $150 million in assets, GBTC has become a great diversifier because so far it has had a low correlation with other asset classes, said David Dunn, the firm's founder and chief investment officer. The firm has about $1.7 million invested in bitcoin and its underlying technology, the blockchain, Dunn said.
(Editing by David Gaffen and Matthew Lewis) || Bitcoin finds room in small funds; large institutions still on sidelines: By Gertrude Chavez-Dreyfuss
NEW YORK (Reuters) - Digital currency bitcoin has found favor among smaller investors, thanks to the availability of funds designed to invest in it, but remains a niche among the larger investing community.
Investors at some family offices, smaller mutual funds, and traders at hedge funds say bitcoin has helped returns and demonstrated a low correlation with other asset classes.
Hopes that bitcoin would become a broadly used alternative to other currencies helped buoy its price to more than $1,000 in December 2013, when its market capitalization was $13 billion.
But the market cap has retreated since then, to about $6.4 billion as of Thursday.
Early enthusiasts for the crypto-currency were drawn to its revolutionary ideals of transparency and a lack of central or official control. The risks of dealing in bitcoin were laid bare in 2013 when Tokyo-based exchange Mt Gox collapsed after admitting it had lost the equivalent of hundreds of millions of dollars of investor funds.
The currency's earlier ties to gambling and criminal websites did not endear it to traditional investors.
Jeremy Millar, founder and managing partner at Ledger Partners in London, estimated that 50 to 90 percent of bitcoin's current $6.4 billion market cap is held by near-institutional money such as individuals at hedge funds and family offices. That has not changed over the last two years.
He does not have an estimate for institutional investment holdings of bitcoin. But he said they are likely to be insignificant, compared with the smaller investors who have fewer restrictions about fund allocation.
"What is clear though is that over the last two years, bitcoin has emerged from its 'hacktivist' origins to a more institutionalized ecosystem which includes the participation of hedge funds, traders, and professional investors," said Millar.
BITCOIN IN PORTFOLIOS
Funds dedicated to investing in bitcoin are relatively small. The largest is the Pantera Bitcoin Fund, a $160 million hedge fund founded by Dan Morehead, formerly of Tiger Management, available to institutions and individuals who invest $50,000 or more.
According to a Pantera Bitcoin Fund brochure, the fund was launched in July 2013, a period when bitcoin <BTC=BTSP> traded at around $65. On Thursday, it traded at $418.80, a gain of more than 500 percent from July 2013. The firm did not comment on fund performance or its investors.
The majority of the Pantera Fund's investors are family offices and high net worth individuals, said two people familiar with the fund.
The Grayscale Bitcoin Investment Trust, with assets of more than $60 million, is another vehicle for investors. GBTC is backed by bitcoin advocate Barry Silbert and his Digital Currency Group.
It is the only publicly traded U.S. security in the over-the-counter market invested in bitcoin. Volume is thin, with a few thousand shares traded daily, according to Thomson Reuters data.
Antonis Polemitis, managing director at Ledra Capital in New York, a family office specializing in education and technology, said that on average, clients have allocated 1 to 3 percent of their portfolios to bitcoin.
"A lot of people will take that bet with 1 percent of their assets," he said. "A 1 percent loss does not change anyone's life in any way. If it goes up 10 times, then you get to feel very smart."
Some investment managers say having bitcoin in portfolios has helped performance.
ARK Invest, which manages four exchange-traded funds with $240 million in assets, holds GBTC in its $12 million Next Generation Internet ETF and the $7 million ARK Innovation ETF.
Chris Burniske, analyst and blockchain products lead at ARK Invest in New York, said since investing in September 2015, GBTC has contributed 67 basis points to the Next Generation Internet ETF's return and 62 basis points to the ARK Innovation ETF.
For 2015, the Next Generation ETF posted a 15.29 percent return, while the Innovation ETF had 3.76 percent gains.
For Kingsbridge Wealth Management, a multifamily office in Las Vegas with $150 million in assets, GBTC has become a great diversifier because so far it has had a low correlation with other asset classes, said David Dunn, the firm's founder and chief investment officer. The firm has about $1.7 million invested in bitcoin and its underlying technology, the blockchain, Dunn said.
(Editing by David Gaffen and Matthew Lewis)
[Social Media Buzz]
LIVE: Profit = $146.89 (7.91 %). BUY B4.81 @ $410.00 (#VirCurex). SELL @ $416.98 (#Bitfinex) #bitcoin #btc - http://www.projectcoin.org || $415.50 at 21:45 UTC [24h Range: $412.00 - $416.88 Volume: 2479 BTC] || #CCN 0.00002999 BTC(-0.00 %) | Market Cap 140 BTC | Volume(24h) 0 BTC | Available Supply 4,670,372 CCN || 1 KOBO Price: YoBit = 0.00000349 BTC (0.00144750 USD) #KOBO #BTC #KOBOprice #Kobocoin 2016-03-25 11:00 pic.twitter.com/VIghHMFwLA || 1 KOBO Price: YoBit = 0.00000231 BTC (0.00095905 ...
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417.95, 426.77, 424.23, 416.52, 414.82, 416.73, 417.96, 420.87, 420.90, 421.44
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Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 1036.74, 1054.23, 1120.54, 1049.14, 1038.59, 937.52, 972.78, 966.72, 1045.77, 1047.15, 1039.97, 1026.43, 1071.79, 1080.50, 1102.17, 1143.81, 1133.25, 1124.78, 1182.68, 1176.90, 1175.95, 1187.87, 1187.13, 1205.01, 1200.37, 1169.28, 1167.54, 1172.52, 1182.94, 1193.91, 1211.67, 1210.29, 1229.08, 1222.05, 1231.71, 1207.21, 1250.15, 1265.49, 1281.08, 1317.73, 1316.48, 1321.79, 1347.89, 1421.60, 1452.82, 1490.09, 1537.67, 1555.45, 1578.80, 1596.71, 1723.35, 1755.36, 1787.13, 1848.57, 1724.24, 1804.91, 1808.91, 1738.43, 1734.45, 1839.09, 1888.65, 1987.71, 2084.73, 2041.20, 2173.40, 2320.42, 2443.64, 2304.98, 2202.42, 2038.87, 2155.80, 2255.61, 2175.47, 2286.41, 2407.88, 2488.55, 2515.35, 2511.81, 2686.81, 2863.20, 2732.16, 2805.62, 2823.81, 2947.71, 2958.11, 2659.63, 2717.02, 2506.37, 2464.58, 2518.56.
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[Bitcoin Technical Analysis for 2017-06-16]
Volume: 1195190016, RSI (14-day): 52.62, 50-day EMA: 2184.90, 200-day EMA: 1442.58
[Wider Market Context]
Gold Price: 1254.00, Gold RSI: 45.51
Oil Price: 44.74, Oil RSI: 34.76
[Recent News (last 7 days)]
Bitcoin drops to three-week low on profit taking: By Gertrude Chavez-Dreyfuss
NEW YORK, June 15 (Reuters) - Bitcoin fell to a three-week low on Thursday as investors took profits partly in response to a bearish report from Goldman Sachs as well as concerns about a Chinese bitcoin miner's plan to undertake a "hard fork" that will result in a split in the digital currency.
The virtual currency relies on "mining" computers that validate blocks of transactions by competing to solve mathematical puzzles every 10 minutes. The first to solve the puzzle and clear the transaction is rewarded with new bitcoins.
Bitcoin fell as low as $2,120 on the Bitstamp on Thursday and was last down 6 percent at $2,290. On the week, the currency has fallen about 22 percent, on track for its largest weekly slide since December 2013.
On Monday, bitcoin hit a record just shy of $3,000. So far this year, bitcoin remains up 137 percent.
Sharp losses such as Thursday's are par for the course for an asset like bitcoin, analysts said. Over the course of its eight-year history, Bitcoin has on a daily basis risen as much as 18 percent and fallen as much as 13 percent.
Greg Dwyer, business development manager at crypto-currency trading platform BitMEX, said bitcoin's decline may have started on Monday when Goldman Sachs analyst Sheba Jafari said in a report, "The balance of signals are looking broadly heavy" for bitcoin.
Jafari was "wary of a near-term top ahead of $3,134, adding that investors should consider re-establishing bullish exposure between $2,330 and no lower than $1,915."
Analysts also said investors were spooked by Chinese miner Bitmain's plan to undertake a "hard fork" of bitcoin if a code upgrade on the currency is activated late this summer.
Under a "hard fork", Bitmain would create an entirely new version of the bitcoin blockchain, resulting in an entirely new bitcoin currency, separate from the original currency.
Bitmain's move was in response to proposals that attempt to solve the bitcoin network's limitations in processing millions of daily transactions. Bitcoin's network has not kept pace with its growth and is unable to process all the transactions fast enough.
"Traders are concerned with what a fork could do to their holdings and most likely now converting to fiat (government currencies) until some clarity about the scaling debate comes to light," said BitMEX's Dwyer. (Reporting by Gertrude Chavez-Dreyfuss; Editing by Cynthia Osterman) || Bitcoin drops to three-week low on profit taking: By Gertrude Chavez-Dreyfuss NEW YORK, June 15 (Reuters) - Bitcoin fell to a three-week low on Thursday as investors took profits partly in response to a bearish report from Goldman Sachs as well as concerns about a Chinese bitcoin miner's plan to undertake a "hard fork" that will result in a split in the digital currency. The virtual currency relies on "mining" computers that validate blocks of transactions by competing to solve mathematical puzzles every 10 minutes. The first to solve the puzzle and clear the transaction is rewarded with new bitcoins. Bitcoin fell as low as $2,120 on the Bitstamp on Thursday and was last down 6 percent at $2,290. On the week, the currency has fallen about 22 percent, on track for its largest weekly slide since December 2013. On Monday, bitcoin hit a record just shy of $3,000. So far this year, bitcoin remains up 137 percent. Sharp losses such as Thursday's are par for the course for an asset like bitcoin, analysts said. Over the course of its eight-year history, Bitcoin has on a daily basis risen as much as 18 percent and fallen as much as 13 percent. Greg Dwyer, business development manager at crypto-currency trading platform BitMEX, said bitcoin's decline may have started on Monday when Goldman Sachs analyst Sheba Jafari said in a report, "The balance of signals are looking broadly heavy" for bitcoin. Jafari was "wary of a near-term top ahead of $3,134, adding that investors should consider re-establishing bullish exposure between $2,330 and no lower than $1,915." Analysts also said investors were spooked by Chinese miner Bitmain's plan to undertake a "hard fork" of bitcoin if a code upgrade on the currency is activated late this summer. Under a "hard fork", Bitmain would create an entirely new version of the bitcoin blockchain, resulting in an entirely new bitcoin currency, separate from the original currency. Bitmain's move was in response to proposals that attempt to solve the bitcoin network's limitations in processing millions of daily transactions. Bitcoin's network has not kept pace with its growth and is unable to process all the transactions fast enough. "Traders are concerned with what a fork could do to their holdings and most likely now converting to fiat (government currencies) until some clarity about the scaling debate comes to light," said BitMEX's Dwyer. (Reporting by Gertrude Chavez-Dreyfuss; Editing by Cynthia Osterman) || Bitcoin drops to three-week low on profit taking: By Gertrude Chavez-Dreyfuss
NEW YORK, June 15 (Reuters) - Bitcoin fell to a three-week low on Thursday as investors took profits partly in response to a bearish report from Goldman Sachs as well as concerns about a Chinese bitcoin miner's plan to undertake a "hard fork" that will result in a split in the digital currency.
The virtual currency relies on "mining" computers that validate blocks of transactions by competing to solve mathematical puzzles every 10 minutes. The first to solve the puzzle and clear the transaction is rewarded with new bitcoins.
Bitcoin fell as low as $2,120 on the Bitstamp on Thursday and was last down 6 percent at $2,290. On the week, the currency has fallen about 22 percent, on track for its largest weekly slide since December 2013.
On Monday, bitcoin hit a record just shy of $3,000. So far this year, bitcoin remains up 137 percent.
Sharp losses such as Thursday's are par for the course for an asset like bitcoin, analysts said. Over the course of its eight-year history, Bitcoin has on a daily basis risen as much as 18 percent and fallen as much as 13 percent.
Greg Dwyer, business development manager at crypto-currency trading platform BitMEX, said bitcoin's decline may have started on Monday when Goldman Sachs analyst Sheba Jafari said in a report, "The balance of signals are looking broadly heavy" for bitcoin.
Jafari was "wary of a near-term top ahead of $3,134, adding that investors should consider re-establishing bullish exposure between $2,330 and no lower than $1,915."
Analysts also said investors were spooked by Chinese miner Bitmain's plan to undertake a "hard fork" of bitcoin if a code upgrade on the currency is activated late this summer.
Under a "hard fork", Bitmain would create an entirely new version of the bitcoin blockchain, resulting in an entirely new bitcoin currency, separate from the original currency.
Bitmain's move was in response to proposals that attempt to solve the bitcoin network's limitations in processing millions of daily transactions. Bitcoin's network has not kept pace with its growth and is unable to process all the transactions fast enough.
"Traders are concerned with what a fork could do to their holdings and most likely now converting to fiat (government currencies) until some clarity about the scaling debate comes to light," said BitMEX's Dwyer. (Reporting by Gertrude Chavez-Dreyfuss; Editing by Cynthia Osterman) || TECH STOCKS FALL: Here's what you need to know: (Flickr/Alpha)
US stocks and bonds fell on Thursday, a day after the Federal Reserve's decision toraise interest ratesand maintain its outlook for one more hike this year. The tech-heavy Nasdaq led declines among the major indexes.
Here's the scoreboard:
• Dow:21,359.90, -14.66, (-0.07%)
• S&P 500:2,432.46, -5.46, (-0.22%)
• Nasdaq:6,165.50, -29.39, (-0.47%)
• 10-year yield:2.162%, +0.024
1. Snap sank to its initial offering price of $17 for the first timeand closed exactly there. Many of the banks that underwrote the company's popular IPO have become bearish on the stock.
2. Bitcoin had its biggest drop in more than two years.The cryptocurrency fell by as much as 12.9%, to $2,161 a coin, its lowest since the beginning of June.
3. Nestle is thinking about selling its roughly $900 million-a-year US candy business. The world's largest packaged foods maker said on Thursday it would "explore strategic options," including a possible sale, amid a consumer shift towards healthier foods.
4. Nike said it would cut 2% of its global workforce and discontinue a quarter of its shoe styles as competition mounts. Nike shares fell 3%.
5. Alphabet fell after a rare downgrade.In a research note published Thursday, Canaccord said a lot of Alphabet's growth in mobile search and YouTube "will be hard to repeat."
6. Initial jobless claims, which count people who applied for unemployment insurance for the first time, last week fell more than expected by 8,000 to 237,000, according to the Labor Department.
Additionally:
A predictor with a perfect track record on the American economy is moving closer to signaling a recession
Don't expect the market's hottest stocks to cool down any time soon
Super-rich millennials are defying the way their parents have been investing for decades
Janet Yellen is starting to warm to a policy the Fed once regarded as radical
The Fed's 4th rate hike could challenge a popular assumption investors make about stocks
LARRY SUMMERS: 'The Fed is not credible with the markets'
NOW WATCH:An economist explains the key issues that Trump needs to address to boost the economy
More From Business Insider
• STOCKS RISE: Here's what you need to know
• TECH GETS WHACKED AGAIN: Here's what you need to know
• TECH GETS SLAMMED: Here's what you need to know || TECH STOCKS FALL: Here's what you need to know: blue screen of death (Flickr/Alpha) US stocks and bonds fell on Thursday, a day after the Federal Reserve's decision to raise interest rates and maintain its outlook for one more hike this year. The tech-heavy Nasdaq led declines among the major indexes. Here's the scoreboard: Dow: 21,359.90, -14.66, (-0.07%) S&P 500: 2,432.46, -5.46, (-0.22%) Nasdaq: 6,165.50, -29.39, (-0.47%) 10-year yield: 2.162%, +0.024 Snap sank to its initial offering price of $17 for the first time and closed exactly there. Many of the banks that underwrote the company's popular IPO have become bearish on the stock. Bitcoin had its biggest drop in more than two years . The cryptocurrency fell by as much as 12.9%, to $2,161 a coin, its lowest since the beginning of June. Nestle is thinking about selling its roughly $900 million-a-year US candy business . The world's largest packaged foods maker said on Thursday it would "explore strategic options," including a possible sale, amid a consumer shift towards healthier foods. Nike said it would cut 2% of its global workforce and discontinue a quarter of its shoe styles as competition mounts . Nike shares fell 3%. Alphabet fell after a rare downgrade . In a research note published Thursday, Canaccord said a lot of Alphabet's growth in mobile search and YouTube "will be hard to repeat." Initial jobless claims, which count people who applied for unemployment insurance for the first time, last week fell more than expected by 8,000 to 237,000, according to the Labor Department . Additionally: A predictor with a perfect track record on the American economy is moving closer to signaling a recession Don't expect the market's hottest stocks to cool down any time soon Super-rich millennials are defying the way their parents have been investing for decades Janet Yellen is starting to warm to a policy the Fed once regarded as radical The Fed's 4th rate hike could challenge a popular assumption investors make about stocks LARRY SUMMERS: 'The Fed is not credible with the markets' Story continues NOW WATCH: An economist explains the key issues that Trump needs to address to boost the economy More From Business Insider STOCKS RISE: Here's what you need to know TECH GETS WHACKED AGAIN: Here's what you need to know TECH GETS SLAMMED: Here's what you need to know || BIT Moving to Bitcoin Blockchain as BITCF to Unify Trading Between Markets; OTC Markets Removes Caveat Emptor Symbol From its Publication of Quotes on BITCF: VANCOUVER, BC / ACCESSWIRE / June 15, 2017 / FIRST BITCOIN CAPITAL CORP. (OTC PINK: BITCF) ("Company," "we," "us," or "our") would like to announce that the most prolific cryptographic creator of tokens on the Bitcoin Blockchain has resolved to move the ownership of its common shares now trading in the cryptocurrency markets onto the Bitcoin Blockchain and simultaneously reduce authorized shares from 21 billion back to 500,000,000. The reduction in authorized capital of First Bitcoin Capital Corp . does not reduce the number of shares currently issued and outstanding. Crypto shareholders will be given two options; either to keep their mined shares or convert those shares to the new blockchain. Those that convert to the new blockchain will own shares of BITCF, however, those that do not elect to move to the new blockchain will continue to hold BIT, which will then become a simple cryptocurrency with no relationship to the shares of company other than sharing the first portion of its name, "First Bitcoin." The transference of shares from BIT, on its unique, existing blockchain, to BITCF on the Bitcoin Blockchain will be conducted through BIT's primary crypto-exchange, C-CEX.com , and will be automatic for all those who are holding their BIT at C-CEX. The new BITCF Crypto shares will then trade as BITCF so that it will be easier for the markets to understand that the crypto and traditional shares include the same rights, title, and interest. Those who wish to continue to trade BIT as a mere cryptocurrency will be allowed to do so via BIT's secondary exchange, Livecoin, but must remove their BIT from C-CEX on the deadline to be set soon. Deposits and withdraws will be allowed at C-CEX until the movement to the new blockchain has been implemented. The company plans to implement this blockchain move within two weeks. The company has determined that moving to the Bitcoin Blockchain makes the management of issuing shares more efficient and less expensive so that there is no mining cost to the company or its shareholders in the form of dilution. It is a safer system and allows for issuing new shares in the future instead of pre-mining to reserve shares in the treasury, as was done mining BIT. Story continues This move also creates a new asset for the coffers of BITCF so that all pre-mined 20 billion BIT will soon be available for liquidity, dividends, mergers, and acquisitions without any further dilution to BITCF, which heretofore was caused by daily mining of BIT. BITCF riding on the rails of Bitcoin using the Omni Layer Protocol will allow BITCF to easily pay dividends in the form of its other Omni layered coins such as ALT, XBU, XB, GARY, HILL, BURN, WEED, PRES, TESLA, etc., as well as the more popular MAID, OMNI, Tether (USTD), should we accumulate or acquire more of same. Reduction in Authorized Capital In preparing to move the small percentage of company shares held by miners from our own blockchain to the Bitcoin Blockchain the company resolved today to reduce authorized capital from 21,000,000,000 to 500,000,000 shares which will become effective upon completing this move within the next two weeks. OTC Market's Skull and Bones Designation After the company's SEC counsel provided and opined on the required disclosures to OTC Markets, the caveat emptor was removed so that the company has returned to its former status of a current alternative reporting company. About the Company First Bitcoin Capital Corp is engaged in developing digital currencies, proprietary Blockchain technologies, and the digital currency exchange - www.CoinQX.com . We see this step as a tremendous opportunity to create further shareholder value by leveraging management's experience in developing and managing complex Blockchain technologies, developing new types of digital assets. Being the first publicly-traded cryptocurrency and blockchain-centered company (with shares both traded in the US OTC Markets as [BITCF] and as [BIT] in crypto exchanges), we want to provide our shareholders with diversified exposure to digital cryptocurrencies and blockchain technologies. At this time, the Company owns and operates more than the following digital assets under development: www.CoinQX.com cryptocurrency exchange, registered with FINCEN. www.altcoinmarketcap.com market capitalization for all cryptocurrencies with up and down voting by altcoin communities. www.strain.ID cannabis strains genetic information depository on decentralized Blockchain. www.iCoiNEWS.com real time cryptocurrency and Bitcoin news site. www.BITminer.cc providing mining pool management services. www.2016coin.org online daily election coverage and home page for $PRES, $HILL, $GARY& $BURN - commemorative presidential election coins. www.bitcannpay.com Open Loop merchant services for dispensaries. List of most Omni protocol coins issued on the Bitcoin Blockchain and owned by the Company: http://omnichest.info/lookupadd.aspx?address=1FwADyEvdvaLNxjN1v3q6tNJCgHEBuABrS Second Omni wallet owned by CoinQX reflecting our airline mileage tokens issued: http://omnichest.info/lookupadd.aspx?address=1VuF26AgLyQ4tBoGzYTWRqtDG9zCB7QXe Forward-Looking Statements Certain statements contained in this press release may constitute "forward-looking statements." Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors as may be disclosed in company's filings. In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic conditions, and governmental and public policy changes. The forward-looking statements included in this press release represent the Company's views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of the press release. Such forward-looking statements are risks that are detailed in the Company's filings, which are on file at www.OTCMarkets.com . Contact us via: info@bitcoincapitalcorp.com or visit http://www.bitcoincapitalcorp.com . SOURCE: First Bitcoin Capital Corp. || BIT Moving to Bitcoin Blockchain as BITCF to Unify Trading Between Markets; OTC Markets Removes Caveat Emptor Symbol From its Publication of Quotes on BITCF: VANCOUVER, BC / ACCESSWIRE / June 15, 2017 /FIRST BITCOIN CAPITAL CORP. (OTC PINK: BITCF) ("Company," "we," "us," or "our") would like to announce that the most prolific cryptographic creator of tokens on the Bitcoin Blockchain has resolved to move the ownership of its common shares now trading in the cryptocurrency markets onto the Bitcoin Blockchain and simultaneously reduce authorized shares from 21 billion back to 500,000,000. The reduction in authorized capital ofFirst Bitcoin Capital Corp. does not reduce the number of shares currently issued and outstanding.
Crypto shareholders will be given two options; either to keep their mined shares or convert those shares to the new blockchain.
Those that convert to the new blockchain will own shares of BITCF, however, those that do not elect to move to the new blockchain will continue to hold BIT, which will then become a simple cryptocurrency with no relationship to the shares of company other than sharing the first portion of its name, "First Bitcoin."
The transference of shares from BIT, on its unique, existing blockchain, to BITCF on theBitcoinBlockchain will be conducted through BIT's primary crypto-exchange,C-CEX.com, and will be automatic for all those who are holding their BIT at C-CEX. The new BITCF Crypto shares will then trade as BITCF so that it will be easier for the markets to understand that the crypto and traditional shares include the same rights, title, and interest.
Those who wish to continue to trade BIT as a mere cryptocurrency will be allowed to do so via BIT's secondary exchange, Livecoin, but must remove their BIT from C-CEX on the deadline to be set soon. Deposits and withdraws will be allowed atC-CEXuntil the movement to the new blockchain has been implemented. The company plans to implement this blockchain move within two weeks.
The company has determined that moving to theBitcoin Blockchainmakes the management of issuing shares more efficient and less expensive so that there is no mining cost to the company or its shareholders in the form of dilution. It is a safer system and allows for issuing new shares in the future instead of pre-mining to reserve shares in the treasury, as was done mining BIT.
This move also creates a new asset for the coffers of BITCF so that all pre-mined 20 billion BIT will soon be available for liquidity, dividends, mergers, and acquisitions without any further dilution to BITCF, which heretofore was caused by daily mining of BIT. BITCF riding on the rails of Bitcoin using the Omni Layer Protocol will allow BITCF to easily pay dividends in the form of its other Omni layered coins such as ALT, XBU, XB, GARY, HILL, BURN, WEED, PRES, TESLA, etc., as well as the more popular MAID, OMNI, Tether (USTD), should we accumulate or acquire more of same.
Reduction in Authorized Capital
In preparing to move the small percentage of company shares held by miners from our own blockchain to the Bitcoin Blockchain the company resolved today to reduce authorized capital from 21,000,000,000 to 500,000,000 shares which will become effective upon completing this move within the next two weeks.
OTC Market's Skull and Bones Designation
After the company's SEC counsel provided and opined on the required disclosures to OTC Markets, the caveat emptor was removed so that the company has returned to its former status of a current alternative reporting company.
About the Company
First Bitcoin Capital Corp is engaged in developing digital currencies, proprietary Blockchain technologies, and the digital currency exchange -www.CoinQX.com. We see this step as a tremendous opportunity to create further shareholder value by leveraging management's experience in developing and managing complex Blockchain technologies, developing new types of digital assets. Being the first publicly-traded cryptocurrency and blockchain-centered company (with shares both traded in the US OTC Markets as [BITCF] and as [BIT] in crypto exchanges), we want to provide our shareholders with diversified exposure to digital cryptocurrencies and blockchain technologies. At this time, the Company owns and operates more than the following digital assets under development:
www.CoinQX.comcryptocurrency exchange, registered with FINCEN.www.altcoinmarketcap.commarket capitalization for all cryptocurrencies with up and down voting by altcoin communities.www.strain.IDcannabis strains genetic information depository on decentralized Blockchain.www.iCoiNEWS.comreal time cryptocurrency and Bitcoin news site.www.BITminer.ccproviding mining pool management services.www.2016coin.orgonline daily election coverage and home page for $PRES, $HILL, $GARY& $BURN - commemorative presidential election coins.www.bitcannpay.comOpen Loop merchant services for dispensaries.
List of most Omni protocol coins issued on the Bitcoin Blockchain and owned by the Company:http://omnichest.info/lookupadd.aspx?address=1FwADyEvdvaLNxjN1v3q6tNJCgHEBuABrS
Second Omni wallet owned by CoinQX reflecting our airline mileage tokens issued:http://omnichest.info/lookupadd.aspx?address=1VuF26AgLyQ4tBoGzYTWRqtDG9zCB7QXe
Forward-Looking Statements
Certain statements contained in this press release may constitute "forward-looking statements." Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors as may be disclosed in company's filings. In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic conditions, and governmental and public policy changes. The forward-looking statements included in this press release represent the Company's views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of the press release. Such forward-looking statements are risks that are detailed in the Company's filings, which are on file atwww.OTCMarkets.com.
Contact us via:info@bitcoincapitalcorp.comor visithttp://www.bitcoincapitalcorp.com.
SOURCE:First Bitcoin Capital Corp. || BIT Moving to Bitcoin Blockchain as BITCF to Unify Trading Between Markets; OTC Markets Removes Caveat Emptor Symbol From its Publication of Quotes on BITCF: VANCOUVER, BC / ACCESSWIRE / June 15, 2017 /FIRST BITCOIN CAPITAL CORP. (OTC PINK: BITCF) ("Company," "we," "us," or "our") would like to announce that the most prolific cryptographic creator of tokens on the Bitcoin Blockchain has resolved to move the ownership of its common shares now trading in the cryptocurrency markets onto the Bitcoin Blockchain and simultaneously reduce authorized shares from 21 billion back to 500,000,000. The reduction in authorized capital ofFirst Bitcoin Capital Corp. does not reduce the number of shares currently issued and outstanding.
Crypto shareholders will be given two options; either to keep their mined shares or convert those shares to the new blockchain.
Those that convert to the new blockchain will own shares of BITCF, however, those that do not elect to move to the new blockchain will continue to hold BIT, which will then become a simple cryptocurrency with no relationship to the shares of company other than sharing the first portion of its name, "First Bitcoin."
The transference of shares from BIT, on its unique, existing blockchain, to BITCF on theBitcoinBlockchain will be conducted through BIT's primary crypto-exchange,C-CEX.com, and will be automatic for all those who are holding their BIT at C-CEX. The new BITCF Crypto shares will then trade as BITCF so that it will be easier for the markets to understand that the crypto and traditional shares include the same rights, title, and interest.
Those who wish to continue to trade BIT as a mere cryptocurrency will be allowed to do so via BIT's secondary exchange, Livecoin, but must remove their BIT from C-CEX on the deadline to be set soon. Deposits and withdraws will be allowed atC-CEXuntil the movement to the new blockchain has been implemented. The company plans to implement this blockchain move within two weeks.
The company has determined that moving to theBitcoin Blockchainmakes the management of issuing shares more efficient and less expensive so that there is no mining cost to the company or its shareholders in the form of dilution. It is a safer system and allows for issuing new shares in the future instead of pre-mining to reserve shares in the treasury, as was done mining BIT.
This move also creates a new asset for the coffers of BITCF so that all pre-mined 20 billion BIT will soon be available for liquidity, dividends, mergers, and acquisitions without any further dilution to BITCF, which heretofore was caused by daily mining of BIT. BITCF riding on the rails of Bitcoin using the Omni Layer Protocol will allow BITCF to easily pay dividends in the form of its other Omni layered coins such as ALT, XBU, XB, GARY, HILL, BURN, WEED, PRES, TESLA, etc., as well as the more popular MAID, OMNI, Tether (USTD), should we accumulate or acquire more of same.
Reduction in Authorized Capital
In preparing to move the small percentage of company shares held by miners from our own blockchain to the Bitcoin Blockchain the company resolved today to reduce authorized capital from 21,000,000,000 to 500,000,000 shares which will become effective upon completing this move within the next two weeks.
OTC Market's Skull and Bones Designation
After the company's SEC counsel provided and opined on the required disclosures to OTC Markets, the caveat emptor was removed so that the company has returned to its former status of a current alternative reporting company.
About the Company
First Bitcoin Capital Corp is engaged in developing digital currencies, proprietary Blockchain technologies, and the digital currency exchange -www.CoinQX.com. We see this step as a tremendous opportunity to create further shareholder value by leveraging management's experience in developing and managing complex Blockchain technologies, developing new types of digital assets. Being the first publicly-traded cryptocurrency and blockchain-centered company (with shares both traded in the US OTC Markets as [BITCF] and as [BIT] in crypto exchanges), we want to provide our shareholders with diversified exposure to digital cryptocurrencies and blockchain technologies. At this time, the Company owns and operates more than the following digital assets under development:
www.CoinQX.comcryptocurrency exchange, registered with FINCEN.www.altcoinmarketcap.commarket capitalization for all cryptocurrencies with up and down voting by altcoin communities.www.strain.IDcannabis strains genetic information depository on decentralized Blockchain.www.iCoiNEWS.comreal time cryptocurrency and Bitcoin news site.www.BITminer.ccproviding mining pool management services.www.2016coin.orgonline daily election coverage and home page for $PRES, $HILL, $GARY& $BURN - commemorative presidential election coins.www.bitcannpay.comOpen Loop merchant services for dispensaries.
List of most Omni protocol coins issued on the Bitcoin Blockchain and owned by the Company:http://omnichest.info/lookupadd.aspx?address=1FwADyEvdvaLNxjN1v3q6tNJCgHEBuABrS
Second Omni wallet owned by CoinQX reflecting our airline mileage tokens issued:http://omnichest.info/lookupadd.aspx?address=1VuF26AgLyQ4tBoGzYTWRqtDG9zCB7QXe
Forward-Looking Statements
Certain statements contained in this press release may constitute "forward-looking statements." Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors as may be disclosed in company's filings. In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic conditions, and governmental and public policy changes. The forward-looking statements included in this press release represent the Company's views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of the press release. Such forward-looking statements are risks that are detailed in the Company's filings, which are on file atwww.OTCMarkets.com.
Contact us via:info@bitcoincapitalcorp.comor visithttp://www.bitcoincapitalcorp.com.
SOURCE:First Bitcoin Capital Corp. || MORGAN STANLEY: There's one company pulling ahead in blockchain tech: Major Wall Street banks have been investing in blockchain technology for years now, but few products have yet to actually reach the market. That's because we're still in a "proof of concept" phase, according to new Morgan Stanley research published this week.
"Whilst Blockchain, or distributed ledger technology, has been around for a number of years, it has only really begun to gain traction in the mainstream in the last 12 months," write analysts at the bank.
(Morgan Stanley Research)
One company that's leading the way? BNY Mellon.
Morgan Stanley says the custody giant has created a parallel infrastructure using blockchain technology. BDS360 (short for Broker Dealer Services 360) monitors the custodial bank's ledger simultaneously and creates a second, redundant ledger that serves as a backup record. It's been up and running since March 2016.
Here's how it works:
(Illustrative structure of BNY Mellon's BDS360 in relation to existing infrastructure BDC.Morgan Stanley Research)
It "provides a cost-effective way of adding extra layers of resiliency to the current platform," the bank said in a note.
BSD360 is the closest thing to a market-ready product, says Morgan Stanley. All that's left is to roll out is client-facing portions, which comes with its own set of challenges.
"There is still work to be done to figure out the specifics of client interface," says Morgan Stanley. "BNY Mellon would also need to engage in regulatory dialogues, and establish necessary standards and protocols. We think BNY Mellon is well positioned to take on those challenges, with ~85% market share in the [bond] space."
Since it's only internal, and merely duplicates the current settlement processes, it's not a cost-save move by BNY Mellon. Rather, it's a cheap way to add another layer of resiliency, according to Morgan Stanley.
Other examples of blockchain experiments include theAustralian Securities Exchange, Monetary Authority of Singapore, andRipple, a blockchain startup that wants to break SWIFT's stranglehold on intra-bank messaging.
These proofs of concept are paving the way for cost-saving innovations, but there's still a long way to go.
"Adoption of some form of Blockchain technology by incumbents is likely," writes Morgan Stanley. "Given the amount of collaboration required, we expect it could take several years to replace existing back office functions."
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• This Wall Street veteran has raised $107 million to build the 'app store' of financial services || MORGAN STANLEY: There's one company pulling ahead in blockchain tech: Major Wall Street banks have been investing in blockchain technology for years now, but few products have yet to actually reach the market. That's because we're still in a "proof of concept" phase, according to new Morgan Stanley research published this week. "Whilst Blockchain, or distributed ledger technology, has been around for a number of years, it has only really begun to gain traction in the mainstream in the last 12 months," write analysts at the bank. Morgan Stanley blockchain timeline (Morgan Stanley Research) One company that's leading the way? BNY Mellon. Morgan Stanley says the custody giant has created a parallel infrastructure using blockchain technology. BDS360 (short for Broker Dealer Services 360) monitors the custodial bank's ledger simultaneously and creates a second, redundant ledger that serves as a backup record. It's been up and running since March 2016. Here's how it works: BNY Mellon BDS360 blockchain ledger (Illustrative structure of BNY Mellon's BDS360 in relation to existing infrastructure BDC.Morgan Stanley Research) It "provides a cost-effective way of adding extra layers of resiliency to the current platform," the bank said in a note. BSD360 is the closest thing to a market-ready product, says Morgan Stanley. All that's left is to roll out is client-facing portions, which comes with its own set of challenges. "There is still work to be done to figure out the specifics of client interface," says Morgan Stanley. "BNY Mellon would also need to engage in regulatory dialogues, and establish necessary standards and protocols. We think BNY Mellon is well positioned to take on those challenges, with ~85% market share in the [bond] space." Since it's only internal, and merely duplicates the current settlement processes, it's not a cost-save move by BNY Mellon. Rather, it's a cheap way to add another layer of resiliency, according to Morgan Stanley. Other examples of blockchain experiments include the Australian Securities Exchange, Monetary Authority of Singapore, and Ripple , a blockchain startup that wants to break SWIFT's stranglehold on intra-bank messaging. Story continues These proofs of concept are paving the way for cost-saving innovations, but there's still a long way to go. "Adoption of some form of Blockchain technology by incumbents is likely," writes Morgan Stanley. "Given the amount of collaboration required, we expect it could take several years to replace existing back office functions." NOW WATCH: A $16B hedge fund CIO explains what it takes to work at a hedge fund today More From Business Insider MORGAN STANLEY: Bitcoin isn't a currency Keep these 5 things in mind to get the most out of your summer investment-banking internship This Wall Street veteran has raised $107 million to build the 'app store' of financial services || Revisiting An Overlooked Precious Metals ETF: The U.S. dollar is one of this year's most disappointing developed market currencies, but that is not helping the commodities complex. Most commodities, an asset class denominated in dollars, are sagging, but some precious metals have been notable exceptions. Among exchange-traded products, the ETFS Gold Trust (NYSE: SGOL ) is up 9.4 percent year to date while the ETFS Physical Palladium Shares (NYSE: PALL ) is up a stunning 26.9 percent. Sturdy precious metals prices are helping the ETFS Precious Metals Baskets Trust (NYSE: GLTR ) to a year-to-date gain of more than 8 percent. All That Glitters ... GLTR holds a basket of physical gold, silver, palladium and platinum. “Given this action in Precious Metals amid the FOMC rate backdrop, we are also looking at diversified 'Precious Metal' ETPs that generally appeal to those investors and portfolio managers whom prefer 'basket' exposure to the space as opposed to betting on specifically Gold or Silver for example,” said Street One Financial Vice President Paul Weisbruch in a note out Wednesday. Pondering Palladium Although gold and silver loom large in GLTR, palladium, until this week, has been helping the ETF surge. “The background for palladium is for good industrial demand and likely a significant market deficit this year, and on top of course you’ve got this speculative squeeze,” Mitsubishi analyst Jonathan Butler said, reported Reuters . Palladium supply is expected to be in a deficit again this year, which could help deliver more upside for PALL and GLTR. “Traders reported a reluctance to lend the metal, suggesting tightness in near-term supply. Chart patterns indicate that the metal is vulnerable to a sell-off from these elevated levels, however, technical analysts said,” according to Reuters. Macro Trends, Influences While precious metals retreated Wednesday after the Federal Reserve boosted interest rates, inflation could portend more benefits for gold and friends. As Benzinga reported earlier this year , “Data suggests inflation is rising, which could bode well for gold ETFs because the yellow metal is often embraced as an inflation hedge. Accounting for inflation, real U.S. interest rates are in negative territory, further increasing the potential for out-performance by gold relative to other safe-haven assets.” Story continues Related Links: Fed Hikes Rates Without Disrupting The Market: 'Classic Yellen' Is Bitcoin The New Gold? Still Too Early To Say See more from Benzinga Cybersecurity ETF Has A Treat For Investors: Lower Annual Fees A Steadier Course For China ETFs The Good And The Bad Of Oil ETFs © 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Revisiting An Overlooked Precious Metals ETF: The U.S. dollar is one of this year's most disappointing developed market currencies, but that is not helping the commodities complex. Most commodities, an asset class denominated in dollars, are sagging, but some precious metals have been notable exceptions.
Among exchange-traded products, theETFS Gold Trust(NYSE:SGOL) is up 9.4 percent year to date while theETFS Physical Palladium Shares(NYSE:PALL) is up a stunning 26.9 percent. Sturdy precious metals prices are helping theETFS Precious Metals Baskets Trust(NYSE:GLTR) to a year-to-date gain of more than 8 percent.
All That Glitters ...
GLTR holds a basket of physical gold, silver, palladium and platinum.
“Given this action in Precious Metals amid the FOMC rate backdrop, we are also looking at diversified 'Precious Metal' ETPs that generally appeal to those investors and portfolio managers whom prefer 'basket' exposure to the space as opposed to betting on specifically Gold or Silver for example,” saidStreet One FinancialVice President Paul Weisbruch in a note out Wednesday.
Pondering Palladium
Although gold and silver loom large in GLTR, palladium, until this week, has been helping the ETF surge.
“The background for palladium is for good industrial demand and likely a significant market deficit this year, and on top of course you’ve got this speculative squeeze,” Mitsubishi analyst Jonathan Butler said,reported Reuters.
Palladium supply is expected to be in a deficit again this year, which could help deliver more upside for PALL and GLTR.
“Traders reported a reluctance to lend the metal, suggesting tightness in near-term supply. Chart patterns indicate that the metal is vulnerable to a sell-off from these elevated levels, however, technical analysts said,” according to Reuters.
Macro Trends, Influences
While precious metals retreated Wednesday after the Federal Reserve boosted interest rates, inflation could portend more benefits for gold and friends.
AsBenzinga reported earlier this year, “Data suggests inflation is rising, which could bode well for gold ETFs because the yellow metal is often embraced as an inflation hedge. Accounting for inflation, real U.S. interest rates are in negative territory, further increasing the potential for out-performance by gold relative to other safe-haven assets.”
Related Links:
Fed Hikes Rates Without Disrupting The Market: 'Classic Yellen'
Is Bitcoin The New Gold? Still Too Early To Say
See more from Benzinga
• Cybersecurity ETF Has A Treat For Investors: Lower Annual Fees
• A Steadier Course For China ETFs
• The Good And The Bad Of Oil ETFs
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || C&W Networks Wins Worldwide Innovation Award for Wholesale Service: MIAMI, FL--(Marketwired - Jun 15, 2017) -C&W Networks, part ofC&W Communications(C&W), was recently recognized for outstanding industry leadership in wholesale service innovation as it won theWholesale Service Innovationworldwide award category in the Global Telecom Business (GTB) Telecoms Innovation Awards 2017 in London.
C&W Networks, which provides world-leading wholesale telecommunications products and services to over 40 countries in the Caribbean and Latin America, was chosen from a group of prestigious companies for providing exceptional value-added solutions to an enterprise customer, in the banking industry, that operates throughout the North American region.
"I'm proud to accept this award on behalf of the C&W Networks team for leading the industry's most innovative and successful partnerships between operators and vendors," said John Reid, CEO of C&W Communications, picking up the award. "As part of our commitment to innovation, we're continually evaluating the rapidly evolving marketplace to determine what solutions are needed to help customers meet their business and communications goals. We are proud that our hard work has resulted in such acclaim," added Reid.
C&W Networks' project consisted of providing a Canadian telecom and their end customer, a Canadian financial institution, with a next-generation MPLS network to implement a technology plan in the Caribbean. The network includes six classes of service and diverse primary and backup fiber optic circuits, as well as satellite services where additional diversity was required or where fiber optic diversity was not available. The project goal, as set out by the end customer, was to migrate the customer's extensive network of locations throughout the Caribbean to this new state-of-the-art network platform in a timeframe of 18 months, including completion of a proof of concept and pilot in addition to the full-scale migration.
The GTB Telecoms Innovation Awards 2017, organized by Global Telecom Business, were presented on May 23, 2017, at the Marriott Hotel Grosvenor Square in London. The prestigious annual event is designed to honor innovative projects involving telecom operators and service providers around the world, in association with their vendors and suppliers, and recognizes the industry's commitment to deliver exciting and innovative services to its customers worldwide.
"We had a superb range of projects nominated for this year's awards, the eleventh time Global Telecoms Business has presented our annual Innovation Awards. Each year since 2007 we've seen how the industry is getting more innovative and more imaginative about serving customers as technology advances, said Alan Burkitt-Gray, Executive Editor of Global Telecoms Business and Capacity.
C&W Networks operates the largest state-of-the-art subsea multi-ring fiber network that includes more than 48,000 kilometers and 60 sub-sea cable stations. Combined with over 38,000 kilometers of terrestrial fiber across the region and a fully meshed MPLS overlay fabric, this integrated network is the most extensive and most reliable service delivery platform in the greater Caribbean, Central American and Andean region.
C&W Networks wins GTB Wholesale Innovation Award #GTBAwardsTweet this
Click here for more information on the Global Telecoms Business Awards
About C&W NetworksC&W Networks is a wholly owned subsidiary of C&W Communications and a wholesale telecommunications service provider that offers broadband, IP capacity and a growing portfolio of managed services and integrated solutions to global, regional and local telecom carriers, TV cable companies, Internet Service Providers and Network Integrators. C&W Networks operates the largest subsea multi-ring fibre-optic network throughout the greater Caribbean, Central American and Andean region along with the most comprehensive fully meshed MPLS network in the region. Connecting over 40 countries, the company's fully protected ringed submarine fibre optic network spans more than 48,000km. Cable routes include the Caribbean Optical-ring System (ARCOS-1), Colombia-Florida Express (CFX-1), EC-Link cable system, Fibralink, Maya 1, Eastern Caribbean Fiber Express (ECFS), Taino-Carib, East-West, Cayman-Jamaica Fibre system, Caribbean-Bermuda U.S (CBUS), Americas II, Gemini Bermuda, Pan America (PAN-AM), Antillas 1 and Pacific Caribbean Cable System (PCCS). For more information, visit:www.cwnetworks.com.
About C&W CommunicationsC&W is a full service communications and entertainment provider and delivers market-leading video, broadband, telephony and mobile services to consumers in 18 countries. Through its business division, C&W provides data center hosting, domestic and international managed network services, and customized IT service solutions, utilizing cloud technology to serve business and government customers.
C&W also operates a state-of-the-art submarine fiber network -- the most extensive in the region.
Learn more atwww.cwc.com, or follow C&W onLinkedIn,FacebookorTwitter.
About Liberty Global
Liberty Global is the world's largest international TV and broadband company, with operations in more than 30 countries across Europe, Latin America and the Caribbean. We invest in the infrastructure that empowers our customers to make the most of the digital revolution. Our scale and commitment to innovation enable us to develop market-leading products delivered through next-generation networks that connect our 25 million customers who subscribe to over 50 million television, broadband internet and telephony services. We also serve over 10 million mobile subscribers and offer WiFi service across 6 million access points.
Liberty Global's businesses are comprised of two stocks: the Liberty Global Group (NASDAQ:LBTYA) (LBTYB) (NASDAQ:LBTYK) for our European operations, and the LiLAC Group (NASDAQ:LILA) (NASDAQ:LILAK) (OTC PINK:LILAB), which consists of our operations in Latin America and the Caribbean.
The Liberty Global Group operates in 11 European countries under the consumer brands Virgin Media, Unitymedia, Telenet and UPC. The Liberty Global Group also owns 50% of VodafoneZiggo, a Dutch joint venture, which has 4 million customers, 10 million fixed-line subscribers and 5 million mobile subscribers. The LiLAC Group operates in over 20 countries in Latin America and the Caribbean under the consumer brands VTR, Flow, Liberty, Más Móvil and BTC. In addition, the LiLAC Group operates a sub-sea fiber network throughout the region in over 30 markets.
For more information, please visitwww.libertyglobal.com
Image Available:http://www2.marketwire.com/mw/frame_mw?attachid=3148780Image Available:http://www2.marketwire.com/mw/frame_mw?attachid=3148779 || C&W Networks Wins Worldwide Innovation Award for Wholesale Service: MIAMI, FL--(Marketwired - Jun 15, 2017) - C&W Networks , part of C&W Communications (C&W), was recently recognized for outstanding industry leadership in wholesale service innovation as it won the Wholesale Service Innovation worldwide award category in the Global Telecom Business (GTB) Telecoms Innovation Awards 2017 in London. C&W Networks, which provides world-leading wholesale telecommunications products and services to over 40 countries in the Caribbean and Latin America, was chosen from a group of prestigious companies for providing exceptional value-added solutions to an enterprise customer, in the banking industry, that operates throughout the North American region. "I'm proud to accept this award on behalf of the C&W Networks team for leading the industry's most innovative and successful partnerships between operators and vendors," said John Reid, CEO of C&W Communications, picking up the award. "As part of our commitment to innovation, we're continually evaluating the rapidly evolving marketplace to determine what solutions are needed to help customers meet their business and communications goals. We are proud that our hard work has resulted in such acclaim," added Reid. C&W Networks' project consisted of providing a Canadian telecom and their end customer, a Canadian financial institution, with a next-generation MPLS network to implement a technology plan in the Caribbean. The network includes six classes of service and diverse primary and backup fiber optic circuits, as well as satellite services where additional diversity was required or where fiber optic diversity was not available. The project goal, as set out by the end customer, was to migrate the customer's extensive network of locations throughout the Caribbean to this new state-of-the-art network platform in a timeframe of 18 months, including completion of a proof of concept and pilot in addition to the full-scale migration. The GTB Telecoms Innovation Awards 2017, organized by Global Telecom Business, were presented on May 23, 2017, at the Marriott Hotel Grosvenor Square in London. The prestigious annual event is designed to honor innovative projects involving telecom operators and service providers around the world, in association with their vendors and suppliers, and recognizes the industry's commitment to deliver exciting and innovative services to its customers worldwide. Story continues "We had a superb range of projects nominated for this year's awards, the eleventh time Global Telecoms Business has presented our annual Innovation Awards. Each year since 2007 we've seen how the industry is getting more innovative and more imaginative about serving customers as technology advances, said Alan Burkitt-Gray, Executive Editor of Global Telecoms Business and Capacity. C&W Networks operates the largest state-of-the-art subsea multi-ring fiber network that includes more than 48,000 kilometers and 60 sub-sea cable stations. Combined with over 38,000 kilometers of terrestrial fiber across the region and a fully meshed MPLS overlay fabric, this integrated network is the most extensive and most reliable service delivery platform in the greater Caribbean, Central American and Andean region. C&W Networks wins GTB Wholesale Innovation Award #GTBAwards Tweet this Click here for more information on the Global Telecoms Business Awards About C&W Networks C&W Networks is a wholly owned subsidiary of C&W Communications and a wholesale telecommunications service provider that offers broadband, IP capacity and a growing portfolio of managed services and integrated solutions to global, regional and local telecom carriers, TV cable companies, Internet Service Providers and Network Integrators. C&W Networks operates the largest subsea multi-ring fibre-optic network throughout the greater Caribbean, Central American and Andean region along with the most comprehensive fully meshed MPLS network in the region. Connecting over 40 countries, the company's fully protected ringed submarine fibre optic network spans more than 48,000km. Cable routes include the Caribbean Optical-ring System (ARCOS-1), Colombia-Florida Express (CFX-1), EC-Link cable system, Fibralink, Maya 1, Eastern Caribbean Fiber Express (ECFS), Taino-Carib, East-West, Cayman-Jamaica Fibre system, Caribbean-Bermuda U.S (CBUS), Americas II, Gemini Bermuda, Pan America (PAN-AM), Antillas 1 and Pacific Caribbean Cable System (PCCS). For more information, visit: www.cwnetworks.com . About C&W Communications C&W is a full service communications and entertainment provider and delivers market-leading video, broadband, telephony and mobile services to consumers in 18 countries. Through its business division, C&W provides data center hosting, domestic and international managed network services, and customized IT service solutions, utilizing cloud technology to serve business and government customers. C&W also operates a state-of-the-art submarine fiber network -- the most extensive in the region. Learn more at www.cwc.com , or follow C&W on LinkedIn , Facebook or Twitter . About Liberty Global Liberty Global is the world's largest international TV and broadband company, with operations in more than 30 countries across Europe, Latin America and the Caribbean. We invest in the infrastructure that empowers our customers to make the most of the digital revolution. Our scale and commitment to innovation enable us to develop market-leading products delivered through next-generation networks that connect our 25 million customers who subscribe to over 50 million television, broadband internet and telephony services. We also serve over 10 million mobile subscribers and offer WiFi service across 6 million access points. Liberty Global's businesses are comprised of two stocks: the Liberty Global Group ( NASDAQ : LBTYA ) ( LBTYB ) ( NASDAQ : LBTYK ) for our European operations, and the LiLAC Group ( NASDAQ : LILA ) ( NASDAQ : LILAK ) ( OTC PINK : LILAB ), which consists of our operations in Latin America and the Caribbean. The Liberty Global Group operates in 11 European countries under the consumer brands Virgin Media, Unitymedia, Telenet and UPC. The Liberty Global Group also owns 50% of VodafoneZiggo, a Dutch joint venture, which has 4 million customers, 10 million fixed-line subscribers and 5 million mobile subscribers. The LiLAC Group operates in over 20 countries in Latin America and the Caribbean under the consumer brands VTR, Flow, Liberty, Más Móvil and BTC. In addition, the LiLAC Group operates a sub-sea fiber network throughout the region in over 30 markets. For more information, please visit www.libertyglobal.com Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=3148780 Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=3148779 || MORGAN STANLEY: Bitcoin isn't a currency: Bitcoin may have appreciated 300% in the last 12 months, but Morgan Stanley still isn't convinced the cryptocurrency will be a viable currency in the long run.
In new research published this week, analysts at the bank say that bitcoin (and its counterparts like ethereum) are still more like investment vehicles than fiat currency that you could spend on goods and services. In addition, it said there are few reasons to use bitcoin instead of a debit or credit card, as it represents a "marginally more inconvenient way to pay."
Here's Morgan Stanley:
Most regulators and investors view cryptocurrencies more as assets than actual currencies. Their values are too volatile and too hard to actually use for payment for most to consider them currencies. Our conversations with some merchants indicate that, while cryptocurrencies might actually be attractive for them to operate their businesses, they find that the cryptocurrencies are far too volatile to be used.
(The price of bitcoin has exploded in the past year.Markets Insider)
The huge rise in the price of bitcoin is perplexing to the bank, which says other factors should have brought bitcoin's value down. These include the SEC's rejection ofa bitcoin ETFproposed by the Winklevoss twins,declining trading volumes, and aChinese crackdownon bitcoin miners, without which "transaction time for Bitcoin could increase substantially," says Morgan Stanley.
"It is not clear why cryptocurrencies are appreciating so rapidly (apart from the appreciation itself drawing in more speculation against a potentially inefficient ability to sell)," the bank said in a note.
Still, Morgan Stanley has some guesses as to why bitcoin has seen such a catastrophic rise:
1. ICO's, or Initial Coin Offerings: Instead of traditional public offerings or funding rounds, a handful of companies have begun offering investors digital tokens in exchange for cash. In on high-profile case, a tech startup called Aragonraised $12.5 millionin less than 15 minutes in its ICO.
2. China: There are strict limits on currency outflows in the country, and Morgan Stanley assumes many people are using cryptocurrencies as a way to bypass the limits.
3. Korea and Japan: Bitcoin was just legalized by the Japanese government, so it makes sense that it would be gaining popularity in the country. "In Korea, however, there is not a clear explanation for the surge," the bank writes.
NOW WATCH:HENRY BLODGET: Bitcoin could go to $1 million (or fall to $0)
More From Business Insider
• MORGAN STANLEY: There's one company pulling ahead in blockchain tech
• This Wall Street veteran has raised $107 million to build the 'app store' of financial services
• THE BLOCKCHAIN IN THE IoT REPORT: How distributed ledgers enhance the IoT through better visibility and create trust || MORGAN STANLEY: Bitcoin isn't a currency: Bitcoin may have appreciated 300% in the last 12 months, but Morgan Stanley still isn't convinced the cryptocurrency will be a viable currency in the long run.
In new research published this week, analysts at the bank say that bitcoin (and its counterparts like ethereum) are still more like investment vehicles than fiat currency that you could spend on goods and services. In addition, it said there are few reasons to use bitcoin instead of a debit or credit card, as it represents a "marginally more inconvenient way to pay."
Here's Morgan Stanley:
Most regulators and investors view cryptocurrencies more as assets than actual currencies. Their values are too volatile and too hard to actually use for payment for most to consider them currencies. Our conversations with some merchants indicate that, while cryptocurrencies might actually be attractive for them to operate their businesses, they find that the cryptocurrencies are far too volatile to be used.
(The price of bitcoin has exploded in the past year.Markets Insider)
The huge rise in the price of bitcoin is perplexing to the bank, which says other factors should have brought bitcoin's value down. These include the SEC's rejection ofa bitcoin ETFproposed by the Winklevoss twins,declining trading volumes, and aChinese crackdownon bitcoin miners, without which "transaction time for Bitcoin could increase substantially," says Morgan Stanley.
"It is not clear why cryptocurrencies are appreciating so rapidly (apart from the appreciation itself drawing in more speculation against a potentially inefficient ability to sell)," the bank said in a note.
Still, Morgan Stanley has some guesses as to why bitcoin has seen such a catastrophic rise:
1. ICO's, or Initial Coin Offerings: Instead of traditional public offerings or funding rounds, a handful of companies have begun offering investors digital tokens in exchange for cash. In on high-profile case, a tech startup called Aragonraised $12.5 millionin less than 15 minutes in its ICO.
2. China: There are strict limits on currency outflows in the country, and Morgan Stanley assumes many people are using cryptocurrencies as a way to bypass the limits.
3. Korea and Japan: Bitcoin was just legalized by the Japanese government, so it makes sense that it would be gaining popularity in the country. "In Korea, however, there is not a clear explanation for the surge," the bank writes.
NOW WATCH:HENRY BLODGET: Bitcoin could go to $1 million (or fall to $0)
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• MORGAN STANLEY: There's one company pulling ahead in blockchain tech
• This Wall Street veteran has raised $107 million to build the 'app store' of financial services
• THE BLOCKCHAIN IN THE IoT REPORT: How distributed ledgers enhance the IoT through better visibility and create trust || MORGAN STANLEY: Bitcoin isn't a currency: Bitcoin may have appreciated 300% in the last 12 months, but Morgan Stanley still isn't convinced the cryptocurrency will be a viable currency in the long run. In new research published this week, analysts at the bank say that bitcoin (and its counterparts like ethereum) are still more like investment vehicles than fiat currency that you could spend on goods and services. In addition, it said there are few reasons to use bitcoin instead of a debit or credit card, as it represents a "marginally more inconvenient way to pay." Here's Morgan Stanley: Most regulators and investors view cryptocurrencies more as assets than actual currencies. Their values are too volatile and too hard to actually use for payment for most to consider them currencies. Our conversations with some merchants indicate that, while cryptocurrencies might actually be attractive for them to operate their businesses, they find that the cryptocurrencies are far too volatile to be used. Bitcoin price 12 months june 14 (The price of bitcoin has exploded in the past year.Markets Insider) The huge rise in the price of bitcoin is perplexing to the bank, which says other factors should have brought bitcoin's value down. These include the SEC's rejection of a bitcoin ETF proposed by the Winklevoss twins, declining trading volumes , and a Chinese crackdown on bitcoin miners, without which "transaction time for Bitcoin could increase substantially," says Morgan Stanley. "It is not clear why cryptocurrencies are appreciating so rapidly (apart from the appreciation itself drawing in more speculation against a potentially inefficient ability to sell)," the bank said in a note. Still, Morgan Stanley has some guesses as to why bitcoin has seen such a catastrophic rise: ICO's, or Initial Coin Offerings : Instead of traditional public offerings or funding rounds, a handful of companies have begun offering investors digital tokens in exchange for cash. In on high-profile case, a tech startup called Aragon raised $12.5 million in less than 15 minutes in its ICO. China : There are strict limits on currency outflows in the country, and Morgan Stanley assumes many people are using cryptocurrencies as a way to bypass the limits. Korea and Japan : Bitcoin was just legalized by the Japanese government, so it makes sense that it would be gaining popularity in the country. "In Korea, however, there is not a clear explanation for the surge," the bank writes. Story continues NOW WATCH: HENRY BLODGET: Bitcoin could go to $1 million (or fall to $0) More From Business Insider MORGAN STANLEY: There's one company pulling ahead in blockchain tech This Wall Street veteran has raised $107 million to build the 'app store' of financial services THE BLOCKCHAIN IN THE IoT REPORT: How distributed ledgers enhance the IoT through better visibility and create trust || Online lenders haven't been verifying income and employment on their loans, and that should set alarm bells ringing: (Lending Club at its IPO.Lending Club)
Online lenders may be lowering their standards and taking greater risks on borrowers as they chase higher profits.
Prosper Marketplace andLending Club, two of the largest players in the online personal loan business, don't always verify key borrower information like income and employment, according to areport from Bloomberg's Matt Scully.
Bloomberg found that the two companies frequently take the customer's word on key loan information, and they don't necessarily nix a loan if it has errors, such as overstating income.
Here's Scully:
"Prosper Marketplace Inc. doesn’t verify key information like income and employment for around a quarter of the loans it makes, according to documents tied to bonds that Prosper sold last month. LendingClub Corp. said it only verified income about a third of the time for one of the most popular loans it made in 2016, according to company data seen by Bloomberg. If either lender finds mistakes in a borrower’s application, such as overstated income, they may still go ahead with the loan, according to disclosures linked to bond sales from the companies, including documents for securities that LendingClub is offering now."
The companies defended their practices, citing advanced risk-control procedures that help root out fraud.
Prosper told Bloomberg that it verifies identities and bank accounts for all of its loans, and that it has “developed some of the industry’s leading risk-mitigation controls.”
A Lending Club representative told Bloomberg that the company uses “machine learning and other techniques to build robust models that segment which borrower applications need verification and which do not.”
Despite a relatively robust economy, online lenders have seen loans falter quicker than expected, Bloomberg noted, citing data from Morgan Stanley.
They aren't the only lenders hitting bumps and coming under scrutiny. Moody's revealed last month that Santander Consumer USA, one of the country's largest subprime auto lenders, checked incomeon just 8% of borrowersas part of a $1 billion bond offering.
Meanwhile, credit card companies have seencustomer defaults spike, suggesting that they've also started to loosen their standards and issue credit more aggressively.
NOW WATCH:HENRY BLODGET: Bitcoin could go to $1 million (or fall to $0)
More From Business Insider
• This site offers high-end watch brands at some of the most competitive prices you’ll find
• Goldman Sachs found a way to automate dealmaking tasks usually managed by investment bankers
• One of the world's largest hedge funds is returning $8 billion to its investors || Online lenders haven't been verifying income and employment on their loans, and that should set alarm bells ringing: Lending Club, employees, IPO (Lending Club at its IPO.Lending Club) Online lenders may be lowering their standards and taking greater risks on borrowers as they chase higher profits. Prosper Marketplace and Lending Club , two of the largest players in the online personal loan business, don't always verify key borrower information like income and employment, according to a report from Bloomberg's Matt Scully . Bloomberg found that the two companies frequently take the customer's word on key loan information, and they don't necessarily nix a loan if it has errors, such as overstating income. Here's Scully: "Prosper Marketplace Inc. doesn’t verify key information like income and employment for around a quarter of the loans it makes, according to documents tied to bonds that Prosper sold last month. LendingClub Corp. said it only verified income about a third of the time for one of the most popular loans it made in 2016, according to company data seen by Bloomberg. If either lender finds mistakes in a borrower’s application, such as overstated income, they may still go ahead with the loan, according to disclosures linked to bond sales from the companies, including documents for securities that LendingClub is offering now." The companies defended their practices, citing advanced risk-control procedures that help root out fraud. Prosper told Bloomberg that it verifies identities and bank accounts for all of its loans, and that it has “developed some of the industry’s leading risk-mitigation controls.” A Lending Club representative told Bloomberg that the company uses “machine learning and other techniques to build robust models that segment which borrower applications need verification and which do not.” Despite a relatively robust economy, online lenders have seen loans falter quicker than expected, Bloomberg noted, citing data from Morgan Stanley. They aren't the only lenders hitting bumps and coming under scrutiny. Moody's revealed last month that Santander Consumer USA, one of the country's largest subprime auto lenders, checked income on just 8% of borrowers as part of a $1 billion bond offering. Story continues Meanwhile, credit card companies have seen customer defaults spike , suggesting that they've also started to loosen their standards and issue credit more aggressively. Read the full story at Bloomberg . NOW WATCH: HENRY BLODGET: Bitcoin could go to $1 million (or fall to $0) More From Business Insider This site offers high-end watch brands at some of the most competitive prices you’ll find Goldman Sachs found a way to automate dealmaking tasks usually managed by investment bankers One of the world's largest hedge funds is returning $8 billion to its investors || Is Bitcoin a Currency or a Bubble?: (0:30) - Bitcoin Value Triples in 2017 (2:00) - How To Buy Bitcoin and Who is Buying It? (7:20) - How is Bitcoin Impacted By Ransomware (9:40) - How Does Bitcoin Have Value? (12:20) - Bitcoin V.S. Ethereum (14:00) - How To Invest Into Bitcoin (20:55) - Marijuana Cryptocurrency, Initial Coin Offering and Block Chain Tech (25:40) - Episode Roundup: Podcast@Zacks.com Welcome to Episode #86 of the Zacks Market Edge Podcast. Every week, host and Zacks stock strategist, Tracey Ryniec, will be joined by guests to discuss the hottest investing topics in stocks, bonds and ETFs and how it impacts your life. In this episode, Tracey is joined by Dave Bartosiak, editor of the Zacks Momentum Trader and Home Run Investor, and who also hosts Zacks Live Trader, which trades options on YouTube, to discuss a topic that is getting a lot of interest on Wall Street: the Bitcoin trade. Bitcoin is a digital currency which has tripled in value in 2017. It hit as high as $3,000 before pulling back. Whenever something triples in a short period of time, you can be guaranteed that people are taking notice and want to get in. What IS Bitcoin? Tracey knows it from the ransomware attacks but its more complex than that. Dave breaks it down. How Can You Play the Bitcoin Trade? 1. Buy Bitcoin using the Bitcoin wallet. 2. If you qualify, buy the Bitcoin Investment Trust (GBTC), which is called the ETF of Bitcoin even though the SEC has turned down the Winklevoss attempt to actually launch an ETF. The SEC has been concerned the market is unregulated. The GBTC trades on the OTC market. 3. Invest in hedge funds that buy Bitcoins. 4. Buy into companies that are developing the back end, such as Microsofts (MSFT) cloud business, Azure, which just won a contract with Indias largest banks to host the nodes that will relay transactions on their distributed ledger systems. Amazon (AMZN) is another option as its cloud business has been pushing blockchain for over year. Story continues Investing in Bitcoin is difficult. Trading it is pretty easy. The industry reminds Tracey of the marijuana trade, which is also hot but hard to invest in. She and Dave did a podcast earlier this year on the marijuana stocks: Can You Get Rich Off the Marijuana Stocks? Is Bitcoin the new tulip mania? Will it crash and burn or is there something to this rally? Find out the answers on this weeks podcast. [In full disclosure, Tracey owns shares of AMZN in her personal portfolio.] Want to Learn How to Trade Options? Have you always wanted to trade stock options but are unsure where to begin or what to look for? Each week, Zacks Dave Bartosiak will bring you a detailed explanation of the trades live on YouTube. Watch him go through the trade as he answers your questions in real time. Become one of Daves minions. Join the Zacks Live Trader community today. Click here for a free 14-day trial >>> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Click for Free Amazon.com, Inc. (AMZN) Stock Analysis Report >> Click for Free Microsoft Corporation (MSFT) Stock Analysis Report >> SPDR-GOLD TRUST (GLD): ETF Research Reports SPDR-SP 500 TR (SPY): ETF Research Reports To read this article on Zacks.com click here. Zacks Investment Research
[Social Media Buzz]
$2348.48 at 03:15 UTC [24h Range: $2120.00 - $2482.90 Volume: 36498 BTC] || #Monacoin 40.6円↑[Zaif] -円→[もなとれ]
#NEM #XEM 21.995円↓[Zaif]
#Bitcoin 284,105円↓[Zaif]
06/17 06:00
口座開設はこちらで！ https://goo.gl/31dyoO || 2017-06-16 13:05:00 (KST)
비트코인 BTC
빗썸: 3,002,000 (-3,000)
코인원: 3,005,500 (+NaN)
코빗: 3,006,000 (+1,500) || 10:00~11:00のBitcoin市場は反落だったようだ。
変化率は-0.7634%
12:00までは反落かな?
直近の市場の平均Bitcoinの価格は267661.0円
【AIコメントです:テスト中@パターンB】
#bitcoin
#AI || Buy Bitcoin With PayPal! Also with CC, paysafecard, Skrill, ...
|
2655.88, 2548.29, 2589.60, 2721.79, 2689.10, 2705.41, 2744.91, 2608.72, 2589.41, 2478.45
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Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 3630.68, 3655.01, 3678.56, 3657.84, 3728.57, 3601.01, 3576.03, 3604.58, 3585.12, 3600.87, 3599.77, 3602.46, 3583.97, 3470.45, 3448.12, 3486.18, 3457.79, 3487.95, 3521.06, 3464.01, 3459.15, 3466.36, 3413.77, 3399.47, 3666.78, 3671.20, 3690.19, 3648.43, 3653.53, 3632.07, 3616.88, 3620.81, 3629.79, 3673.84, 3915.71, 3947.09, 3999.82, 3954.12, 4005.53, 4142.53, 3810.43, 3882.70, 3854.36, 3851.05, 3854.79, 3859.58, 3864.42, 3847.18, 3761.56, 3896.38, 3903.94, 3911.48, 3901.13, 3963.31, 3951.60, 3905.23, 3909.16, 3906.72, 3924.37, 3960.91, 4048.73, 4025.23, 4032.51, 4071.19, 4087.48, 4029.33, 4023.97, 4035.83, 4022.17, 3963.07, 3985.08, 4087.07, 4069.11, 4098.37, 4106.66, 4105.40, 4158.18, 4879.88, 4973.02, 4922.80, 5036.68, 5059.82, 5198.90, 5289.77, 5204.96, 5324.55, 5064.49, 5089.54, 5096.59, 5167.72.
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[Bitcoin Technical Analysis for 2019-04-14]
Volume: 10391952498, RSI (14-day): 71.00, 50-day EMA: 4419.55, 200-day EMA: 4709.18
[Wider Market Context]
None available.
[Recent News (last 7 days)]
NYSE-Backed Bitcoin Exchange Snags PayPal & Google Veteran: The first quarter has come and gone, and there’s still no Bakkt. Nonetheless, the regulated exchange for bitcoin futures contracts, whose backers include NYSE-owned Intercontinental Exchange (ICE) and Microsoft, is boldly building out its team. Most recently, they’ve added PayPal and Google alum Mike Blandina as the chief product officer to round out the C-suite. Problem is, there’s no bitcoin futures product to speak of.
Nonetheless, it’s another sign of legacy tech talent leaping into the emerging crypto space. In this case, Blandina is also making a leap of faith considering that the bitcoin futures exchange has yet to physically deliver its first contract.
Bakkt was originally supposed to launch in late 2018. More than a quarter later, there’s still no launch date in sight for the regulated bitcoin exchange. | Source: Twitter
Blandina is a payments veteran. He boasts experience at leading plays includingGoogle Wallet, where he was engineering director of payments, and asPayPal‘s vice president of engineering. He joins a growing executive team at the bitcoin futures exchange that extends to former Worldpay exec Balaji Devarasetty. Bakkt recently poached formerCoinbaseexecutive Adam White as its chief operating officer.
Clearly, Blandina brings a lot to the table. But make no mistake — legacy tech needs crypto and the blockchain, not the other way around. The influx of tech talent into the crypto and blockchain space is a testament to the disruption that has taken place. A theme Morgan Creek Capital Management CEO Mark Yusko spotlighted bears repeating:
“Bitcoin didn’t come from JPMorgan or PayPal. It is from the fringe.”
Read the full story on CCN.com. || NYSE-Backed Bitcoin Exchange Snags PayPal & Google Veteran: The first quarter has come and gone, and there’s still no Bakkt. Nonetheless, the regulated exchange for bitcoin futures contracts, whose backers include NYSE-owned Intercontinental Exchange (ICE) and Microsoft, is boldly building out its team. Most recently, they’ve added PayPal and Google alum Mike Blandina as the chief product officer to round out the C-suite. Problem is, there’s no bitcoin futures product to speak of.
Nonetheless, it’s another sign of legacy tech talent leaping into the emerging crypto space. In this case, Blandina is also making a leap of faith considering that the bitcoin futures exchange has yet to physically deliver its first contract.
Bakkt was originally supposed to launch in late 2018. More than a quarter later, there’s still no launch date in sight for the regulated bitcoin exchange. | Source: Twitter
Blandina is a payments veteran. He boasts experience at leading plays includingGoogle Wallet, where he was engineering director of payments, and asPayPal‘s vice president of engineering. He joins a growing executive team at the bitcoin futures exchange that extends to former Worldpay exec Balaji Devarasetty. Bakkt recently poached formerCoinbaseexecutive Adam White as its chief operating officer.
Clearly, Blandina brings a lot to the table. But make no mistake — legacy tech needs crypto and the blockchain, not the other way around. The influx of tech talent into the crypto and blockchain space is a testament to the disruption that has taken place. A theme Morgan Creek Capital Management CEO Mark Yusko spotlighted bears repeating:
“Bitcoin didn’t come from JPMorgan or PayPal. It is from the fringe.”
Read the full story on CCN.com. || NYSE-Backed Bitcoin Exchange Snags PayPal & Google Veteran: Bakkt remains in regulatory limbo, but the NYSE-backed bitcoin exchange made another key hire this week. | Source: Shutterstock The first quarter has come and gone, and theres still no Bakkt. Nonetheless, the regulated exchange for bitcoin futures contracts, whose backers include NYSE-owned Intercontinental Exchange (ICE) and Microsoft, is boldly building out its team. Most recently, theyve added PayPal and Google alum Mike Blandina as the chief product officer to round out the C-suite. Problem is, theres no bitcoin futures product to speak of. Nonetheless, its another sign of legacy tech talent leaping into the emerging crypto space. In this case, Blandina is also making a leap of faith considering that the bitcoin futures exchange has yet to physically deliver its first contract. bakkt nyse bitcoin exchange Bakkt was originally supposed to launch in late 2018. More than a quarter later, theres still no launch date in sight for the regulated bitcoin exchange. | Source: Twitter Mark Yusko: Bitcoin Is From the Fringe Blandina is a payments veteran. He boasts experience at leading plays including Google Wallet , where he was engineering director of payments, and as PayPal s vice president of engineering. He joins a growing executive team at the bitcoin futures exchange that extends to former Worldpay exec Balaji Devarasetty. Bakkt recently poached former Coinbase executive Adam White as its chief operating officer. Clearly, Blandina brings a lot to the table. But make no mistake legacy tech needs crypto and the blockchain, not the other way around. The influx of tech talent into the crypto and blockchain space is a testament to the disruption that has taken place. A theme Morgan Creek Capital Management CEO Mark Yusko spotlighted bears repeating: Bitcoin didnt come from JPMorgan or PayPal. It is from the fringe. Hate to quote myself, but I like line I wrote in 2014 in first paragraph to clients on #Bitcoin One thing history has shown is that truly disruptive technologies always come from the fringe. Bitcoin didnt come from JP Morgan or PayPal. It is from the fringe. Fringe = #Edge Mark W. Yusko (@MarkYusko) April 11, 2019 Read the full story on CCN.com . View comments || Tezos securities litigation continues with a new lead plaintiff: Disclaimer: These summaries are provided for educational purposes only byNelson RosarioandStephen Palley. They are not legal advice. These are our opinions only, aren’t authorized by any past, present or future client or employer. Also we might change our minds. We contain multitudes.
As always, Rosario summaries are “NMR” and Palley summaries are “SDP".
[related id=1]IN RE TEZOS SECURITIES LITIGATION, Case №17-cv-06779-RS (N.D. Cal, 4/8/19, Document #213) (“Order on Plaintiffs’ Motion to Substitute Lead Plaintiff”) [SDP]
Loyal CCM readers will recall that when we last checked in on the Tezos class action litigation at issue was who was going to be the lead plaintiff and whether or not the defendants would be able to delay the case by requiring a statutory clock to be restarted. The Court on March 8 issued a ruling that addressed both of these issues, allowing the case to trudge forward under slightly different management and without restarting the clock. Also, if this judge reads conspiracy theory blog posts on medium about this case you wouldn’t know, because the opinion unsurprisingly doesn’t mention them.
The court initially appointed Arman Anvari as the lead plaintiff in this consolidated class action. Motions to Dismiss were filed. Tim Draper and Bitcoin Suisse were dismissed but the Breitmans, their company Distributed Ledger Solutions, and the Tezos Foundation remained as Defendant. Anvari then moved to withdraw as the lead plaintiff and substitute Artiom Franze. Another plaintiff, Trigon, also asked to be appointed and asked for its lawyers to be substituted as class counsel. (I’m not saying that money matters to anyone involved here but, yeah, class counsel will end up making more money).
The Defendants didn’t take a position about who should be lead plaintiffs, although they filed briefs saying that Anvari was a really bad guy, and at least one blog post appeared on Medium to this effect. The Court didn’t expressly weigh in on anyone’s character, but said that Anvari didn’t have to be a plaintiff if he didn’t want to be (there’s caselaw to this effect, not surprisingly). They also asked that the court restart a statutory notice period for lead process selection, which would of course have the effect of slowing the case down, not that this was anyone’s intent.
[related id=2]The Court said that it did not think it was necessary to restart a statutory 60 day notice period for lead plaintiff selection. The statute “does not contemplate any sort of lead-plaintiff proceedings beyond the very start of the litigation.” This doesn’t mean, however, that a withdrawing plaintiff gets to pick their own replacement. In fact, the Court refused to substitute Anvari’s chosen plaintiff for Anvari. Instead, it granted Trigon’s motion, in part because “Trigon is the sequential plaintiff who contributed the second-most to Tezos and has claims representative of the putative class. Indeed, Anvari’s counsel conceded at oral argument that Trigon is the next party with the most at stake besides Frunze.”
But what about Anvari’s lawyers? Even though they lost their client, the Court said that they could remain in the case as co-lead counsel with Trigon’s counsel. The Court said that “in light of Anvari’s counsels’ extensive work and knowledge of the case, the class would benefit from their continued prosecution of this case.”
Because there’s a new lead plaintiff, the pending class certification motion was denied without prejudice. With Trigon at the helm, a class certification will be filed in its name. Discovery related to that motion and then briefing and a ruling on that motion will be the next major milestone in this case.
The Block is pleased to bring you expert cryptocurrency legal analysis courtesy of Stephen Palley (@stephendpalley) and Nelson M. Rosario (@nelsonmrosario). They summarize three cryptocurrency-related cases on a weekly basis and have given The Block permission to republish their commentary and analysis in full. Part II of this week's analysis, Crypto Caselaw Minute, is above. || 2019 Tax Deadline: File Your Bitcoin Tax Return – or Else: It’s tax season, so sharpen your pencils for the annual ritual of labyrinthian-maze running through the IRS’s nearly 1,000 forms.
“Nothing can be said to be certain, except death and taxes,” said Benjamin Franklin.
But one thingis certain: The Internal Revenue Service isworsethan death. Call it paper-boarding — call it a crime against human sanity.
The tax code forces you to decode more than 10 million words – 12 times longer than the Bible. In this jargon-filled obstacle course, you’ll find phrases such as “exemption to the exemption to the exemption.” I have a masters degree in accounting, and I still can’t figure it out.
Unfortunately, the government criminalizes you for not accurately complying withexceedingly complexregulations that the IRS’s own employees and so-called experts don’t understand and/or can’t clearly explain and/or can’t agree on. The bureaucrat-wasteland that Washington has become would be unrecognizable to America’s Founding Fathers.
What’s discouraging is that lobbyists bribe politicians whose staffquietlywrite loopholes into the tax code (of which there are50,589 restrictions) that result in companies likeAmazon(ranked no. 8 in Fortune 100) payingzerofederal taxesdespite earning $11.2billionin profits last year.
Read the full story on CCN.com. || 2019 Tax Deadline: File Your Bitcoin Tax Return – or Else: It’s tax season, so sharpen your pencils for the annual ritual of labyrinthian-maze running through the IRS’s nearly 1,000 forms.
“Nothing can be said to be certain, except death and taxes,” said Benjamin Franklin.
But one thingis certain: The Internal Revenue Service isworsethan death. Call it paper-boarding — call it a crime against human sanity.
The tax code forces you to decode more than 10 million words – 12 times longer than the Bible. In this jargon-filled obstacle course, you’ll find phrases such as “exemption to the exemption to the exemption.” I have a masters degree in accounting, and I still can’t figure it out.
Unfortunately, the government criminalizes you for not accurately complying withexceedingly complexregulations that the IRS’s own employees and so-called experts don’t understand and/or can’t clearly explain and/or can’t agree on. The bureaucrat-wasteland that Washington has become would be unrecognizable to America’s Founding Fathers.
What’s discouraging is that lobbyists bribe politicians whose staffquietlywrite loopholes into the tax code (of which there are50,589 restrictions) that result in companies likeAmazon(ranked no. 8 in Fortune 100) payingzerofederal taxesdespite earning $11.2billionin profits last year.
Read the full story on CCN.com. || 2019 Tax Deadline: File Your Bitcoin Tax Return – or Else: The IRS tax code is insanely complex. Crypto users will need to navigate through the murky rules and file their Bitcoin taxes by the April 15 deadline. | Source: Shutterstock It’s tax season, so sharpen your pencils for the annual ritual of labyrinthian-maze running through the IRS’s nearly 1,000 forms. “Nothing can be said to be certain, except death and taxes,” said Benjamin Franklin. But one thing is certain : The Internal Revenue Service is worse than death. Call it paper-boarding — call it a crime against human sanity. To avoid the late-filing penalty be sure to file an #IRS return or request an extension, even if you can’t pay the full amount owed. See: https://t.co/3byJqk9fiF #IRSFreeFile pic.twitter.com/Bf5abuJO8I — IRS (@IRSnews) April 4, 2019 Tax Deadline Waits for No Bitcoin Investor The tax code forces you to decode more than 10 million words – 12 times longer than the Bible. In this jargon-filled obstacle course, you’ll find phrases such as “exemption to the exemption to the exemption.” I have a masters degree in accounting, and I still can’t figure it out. Unfortunately, the government criminalizes you for not accurately complying with exceedingly complex regulations that the IRS’s own employees and so-called experts don’t understand and/or can’t clearly explain and/or can’t agree on. The bureaucrat-wasteland that Washington has become would be unrecognizable to America’s Founding Fathers. What’s discouraging is that lobbyists bribe politicians whose staff quietly write loopholes into the tax code (of which there are 50,589 restrictions ) that result in companies like Amazon (ranked no. 8 in Fortune 100) paying zero federal taxes despite earning $11.2 billion in profits last year. Read the full story on CCN.com . || Bitcoin Hovers Near $5,100 as Top Cryptos See Slight Losses: Saturday, April 13 most of the top 20 cryptocurrencies are reporting slight losses on the day by press time, as Bitcoin ( BTC ) hovers just over the $5,100 mark. Market visualization courtesy of Coin360 Market visualization courtesy of Coin360 Bitcoins price is up about half a percent on the day, trading at around $5,107 by press time, according to CoinMarketCap. Looking at its weekly chart, the current price is also just half a percent higher than the price at which Bitcoin started the week. Bitcoin 7-day price chart. Source: CoinMarketCap Bitcoin 7-day price chart. Source: CoinMarketCap Ethereum ( ETH ) is holding onto its position as the largest altcoin by market cap, which is at about $17.4 billion. The second-largest altcoin, Ripple ( XRP ), has a market cap of about $13.7 billion by press time. ETH has seen almost no change over the last 24 hours, down a fraction of a percent. At press time, ETH is trading around $165. On the week, the coin has also seen almost no gross change, but reported a mid-week high of $184 on Monday. Ethereum 7-day price chart. Source: CoinMarketCap Ethereum 7-day price chart. Source: CoinMarketCap During a recent developer meeting this week, Ethereum core developers stated that they are considering more frequent and smaller hard forks . Second-largest altcoin Ripple is also seeing fractional losses over the 24 hours to press time and is currently trading at around $0.327 . Looking at the coins weekly chart, however, its current price over 8% lower than what it reported one week ago. Ripple 7-day price chart. Source: CoinMarketCap Ripple 7-day price chart. Source: CoinMarketCap Among the top 20 cryptocurrencies, the only one reporting notable gains is Binance Coin ( BNB ), which is up almost three percent. BNB has seen slightly more gains on the week. The total market cap of all cryptocurrencies is currently equivalent to $173.1 billion, which is close to two percent lower than $175.6, the value it reported a week ago. As Cointelegraph reported yesterday, French insurance markets can now invest in cryptocurrencies , following the passage of a new law. Today, Cointelegraph reported that the research arm of major cryptocurrency derivatives platform BitMEX estimates that Bitcoin SV ( BSV ) miners have accumulated gross losses of $2.2 million. Story continues The report released by BitMEX Research claims that BSV miners perceived a negative gross profit margin of 12% since the coin was created in a hard fork that split Bitcoin Cash ( BCH ). Related Articles: Bitcoin Hovers Near $5,100 as Top Cryptos See Mixed Movements Bitcoin Holds Near $5,100 as US Stocks Stand Still Bitcoin Approaches $5,300 as US Stocks See Growth Bitcoin Briefly Breaks New $5,300 Support as Traditional Markets Grow || Bitcoin Hovers Near $5,100 as Top Cryptos See Slight Losses: Saturday, April 13 — most of the top 20cryptocurrenciesare reporting slight losses on the day by press time, as Bitcoin (BTC) hovers just over the $5,100 mark.
Market visualization courtesy ofCoin360
Bitcoin’s price is up about half a percent on the day, trading at around$5,107by press time, according to CoinMarketCap. Looking at its weekly chart, the current price is also just half a percent higher than the price at which Bitcoin started the week.
Bitcoin 7-day price chart. Source:CoinMarketCap
Ethereum (ETH) is holding onto its position as the largest altcoin by market cap, which is at about $17.4 billion. The second-largest altcoin, Ripple (XRP), has a market cap of about $13.7 billion by press time.
ETH has seen almost no change over the last 24 hours, down a fraction of a percent. At press time, ETH is trading around $165. On the week, the coin has also seen almost no gross change, but reported a mid-week high of $184 on Monday.
Ethereum 7-day price chart. Source:CoinMarketCap
During a recentdeveloper meetingthis week, Ethereum core developers stated that they are considering more frequent and smallerhard forks.
Second-largest altcoin Ripple is also seeing fractional losses over the 24 hours to press time and is currently trading at around$0.327. Looking at the coin’s weekly chart, however, its current price over 8% lower than what it reported one week ago.
Ripple 7-day price chart. Source:CoinMarketCap
Among the top 20 cryptocurrencies, the only one reporting notable gains is Binance Coin (BNB), which is up almost three percent. BNB has seen slightly more gains on the week.
Thetotal market capof all cryptocurrencies is currently equivalent to $173.1 billion, which is close to two percent lower than $175.6, the value it reported a week ago.
As Cointelegraphreportedyesterday,Frenchinsurance markets can now invest incryptocurrencies, following the passage of a new law.
Today, Cointelegraphreportedthat the research arm of majorcryptocurrencyderivatives platformBitMEXestimates that Bitcoin SV (BSV) miners have accumulated gross losses of $2.2 million.
The report released by BitMEX Research claims that BSV miners perceived a negative gross profit margin of 12% since the coin was created in ahard forkthat split Bitcoin Cash (BCH).
• Bitcoin Hovers Near $5,100 as Top Cryptos See Mixed Movements
• Bitcoin Holds Near $5,100 as US Stocks Stand Still
• Bitcoin Approaches $5,300 as US Stocks See Growth
• Bitcoin Briefly Breaks New $5,300 Support as Traditional Markets Grow || Bitcoin Hovers Near $5,100 as Top Cryptos See Slight Losses: Saturday, April 13 — most of the top 20cryptocurrenciesare reporting slight losses on the day by press time, as Bitcoin (BTC) hovers just over the $5,100 mark.
Market visualization courtesy ofCoin360
Bitcoin’s price is up about half a percent on the day, trading at around$5,107by press time, according to CoinMarketCap. Looking at its weekly chart, the current price is also just half a percent higher than the price at which Bitcoin started the week.
Bitcoin 7-day price chart. Source:CoinMarketCap
Ethereum (ETH) is holding onto its position as the largest altcoin by market cap, which is at about $17.4 billion. The second-largest altcoin, Ripple (XRP), has a market cap of about $13.7 billion by press time.
ETH has seen almost no change over the last 24 hours, down a fraction of a percent. At press time, ETH is trading around $165. On the week, the coin has also seen almost no gross change, but reported a mid-week high of $184 on Monday.
Ethereum 7-day price chart. Source:CoinMarketCap
During a recentdeveloper meetingthis week, Ethereum core developers stated that they are considering more frequent and smallerhard forks.
Second-largest altcoin Ripple is also seeing fractional losses over the 24 hours to press time and is currently trading at around$0.327. Looking at the coin’s weekly chart, however, its current price over 8% lower than what it reported one week ago.
Ripple 7-day price chart. Source:CoinMarketCap
Among the top 20 cryptocurrencies, the only one reporting notable gains is Binance Coin (BNB), which is up almost three percent. BNB has seen slightly more gains on the week.
Thetotal market capof all cryptocurrencies is currently equivalent to $173.1 billion, which is close to two percent lower than $175.6, the value it reported a week ago.
As Cointelegraphreportedyesterday,Frenchinsurance markets can now invest incryptocurrencies, following the passage of a new law.
Today, Cointelegraphreportedthat the research arm of majorcryptocurrencyderivatives platformBitMEXestimates that Bitcoin SV (BSV) miners have accumulated gross losses of $2.2 million.
The report released by BitMEX Research claims that BSV miners perceived a negative gross profit margin of 12% since the coin was created in ahard forkthat split Bitcoin Cash (BCH).
• Bitcoin Hovers Near $5,100 as Top Cryptos See Mixed Movements
• Bitcoin Holds Near $5,100 as US Stocks Stand Still
• Bitcoin Approaches $5,300 as US Stocks See Growth
• Bitcoin Briefly Breaks New $5,300 Support as Traditional Markets Grow || Cryptocurrency for beginners deciphered in five definitive guides: The world of cryptocurrency never sleeps. It’s always changing, always evolving, and it’s always volatile. This puts many people off getting involved with cryptocurrency. Investing and trading cryptocurrency can be daunting for newcomers. Mainstream adoption of cryptocurrency will only be achieved through education, willingness, and relevant use cases. We look to provide all of this below. Starting out can be tough, so we’ve simplified cryptocurrency for beginners. Below are five guides that will help you to understand the industry and each of its niches. Whether you’re brand new or you want to take the next step into your cryptocurrency journey, we’ve got something for you. 1. A definitive guide to cryptocurrency Want to know the basics about cryptocurrency? This guide will help you to get started. It outlines exactly what cryptocurrency is, how the industry started, and the importance it carries – especially for individuals and businesses. Discover how cryptocurrencies are used, why they’re a preferred type of currency, and how they differ from general digital currencies. From Bitcoin through to its alternatives, we’ll tell you everything there is to know. We’ll also give you a brief introduction to mining, earning, and trading cryptocurrency. With so many methods, exchanges and wallets available, the choices can be overwhelming for someone new to the industry. When it comes to cryptocurrency for beginners, we give you all the information you need to get started. Download our definitive guide to cryptocurrency now. 2. A definitive guide to cryptocurrency mining Mining is a great way to obtain different cryptocurrencies. In fact, it was the original way to get your hands on Bitcoin. But as the years have gone by, it hasn’t come without criticism. Mining can consume a lot of energy, it can be an expensive method and – according to some – it could even damage the environment. But what’s the big picture when it comes to mining? How does it work, what are the hash functions behind it, and what equipment do you need to get started? Our definitive guide to mining reveals all. It explores the benefits and risks of mining, as well as some of the strategies you can put into practice. Story continues If you’re not interested in Bitcoin specifically, then don’t worry. Our guide outlines how you can mine a number of cryptocurrencies including Litecoin and Dogecoin. Equip yourself with the skills and knowledge you need to successfully mine crypto. Download the guide now. 3. A definitive guide to cryptocurrency exchanges There’s no cryptocurrency trading without exchanges. But the types of exchanges differ, the pairings available can change, and each exchange is likely to offer different benefits and features. So where do you start before choosing an exchange to use? By downloading this definitive guide, of course. Discover the differences between decentralised and centralised exchanges, the levels of security they offer and whether or not they have any limitations. Your choice between these types of exchanges will come down to if you want to trust a third-party with your cryptocurrency funds. This opens up the discussion around whether or not exchanges can be trusted. We explore both sides of the arguments and what the best option for beginners could be. We also outline some the safety measure you should take when moving cryptocurrency around. Cryptocurrency for beginners can be easy, as long as you understand how different types of exchanges work. 4. A definitive guide to cryptocurrency wallets Wallets are essential to keeping your private and public keys secure. If you don’t protect your keys, hackers can easily access your cryptocurrency funds. Wallets can come in a variety of formats, depending on your security requirement. This guide takes an in-depth look at each type including hardware, paper, and software wallets. By knowing the benefits and risks of each type of wallet, you can make an informed decision on which type to buy, how much of your cryptocurrency you should store, and the vulnerabilities you may be leaving yourself open to. To get you started with your research, we point you towards some of the leading wallets available on the market. Download our definitive guide to find out more . 5. A definitive guide to the top five cryptocurrencies Wherever you are on your cryptocurrency journey, you will have undoubtedly heard of Bitcoin. But have you heard about the other four leading currencies, including Ripple and Ethereum? If you haven’t, or if you want to know more, then this guide is for you. Cryptocurrencies also differ in their type and intention. While Bitcoin still holds the majority of market capitalisation, altcoins are now on the rise. Other types of currencies, such as stablecoins and privacy coins, are also gaining a greater following. To find out what they are and why they are driving up competition in the market place, download this guide. You’ll receive an overview of the leading cryptocurrencies, learn about their use cases, and discover why they have been created as an alternative to Bitcoin. Conclusion These five guides make cryptocurrency for beginners a lot easier to understand. Each guide provides practical tips and useful advice. We equip you with the knowledge you need to take the next step of your cryptocurrency journey. The post Cryptocurrency for beginners deciphered in five definitive guides appeared first on Coin Rivet . || Cryptocurrency for beginners deciphered in five definitive guides: The world of cryptocurrency never sleeps. It’s always changing, always evolving, and it’s always volatile. This puts many people off getting involved with cryptocurrency. Investing and trading cryptocurrency can be daunting for newcomers. Mainstream adoption of cryptocurrency will only be achieved through education, willingness, and relevant use cases. We look to provide all of this below. Starting out can be tough, so we’ve simplified cryptocurrency for beginners. Below are five guides that will help you to understand the industry and each of its niches. Whether you’re brand new or you want to take the next step into your cryptocurrency journey, we’ve got something for you. 1. A definitive guide to cryptocurrency Want to know the basics about cryptocurrency? This guide will help you to get started. It outlines exactly what cryptocurrency is, how the industry started, and the importance it carries – especially for individuals and businesses. Discover how cryptocurrencies are used, why they’re a preferred type of currency, and how they differ from general digital currencies. From Bitcoin through to its alternatives, we’ll tell you everything there is to know. We’ll also give you a brief introduction to mining, earning, and trading cryptocurrency. With so many methods, exchanges and wallets available, the choices can be overwhelming for someone new to the industry. When it comes to cryptocurrency for beginners, we give you all the information you need to get started. Download our definitive guide to cryptocurrency now. 2. A definitive guide to cryptocurrency mining Mining is a great way to obtain different cryptocurrencies. In fact, it was the original way to get your hands on Bitcoin. But as the years have gone by, it hasn’t come without criticism. Mining can consume a lot of energy, it can be an expensive method and – according to some – it could even damage the environment. But what’s the big picture when it comes to mining? How does it work, what are the hash functions behind it, and what equipment do you need to get started? Our definitive guide to mining reveals all. It explores the benefits and risks of mining, as well as some of the strategies you can put into practice. Story continues If you’re not interested in Bitcoin specifically, then don’t worry. Our guide outlines how you can mine a number of cryptocurrencies including Litecoin and Dogecoin. Equip yourself with the skills and knowledge you need to successfully mine crypto. Download the guide now. 3. A definitive guide to cryptocurrency exchanges There’s no cryptocurrency trading without exchanges. But the types of exchanges differ, the pairings available can change, and each exchange is likely to offer different benefits and features. So where do you start before choosing an exchange to use? By downloading this definitive guide, of course. Discover the differences between decentralised and centralised exchanges, the levels of security they offer and whether or not they have any limitations. Your choice between these types of exchanges will come down to if you want to trust a third-party with your cryptocurrency funds. This opens up the discussion around whether or not exchanges can be trusted. We explore both sides of the arguments and what the best option for beginners could be. We also outline some the safety measure you should take when moving cryptocurrency around. Cryptocurrency for beginners can be easy, as long as you understand how different types of exchanges work. 4. A definitive guide to cryptocurrency wallets Wallets are essential to keeping your private and public keys secure. If you don’t protect your keys, hackers can easily access your cryptocurrency funds. Wallets can come in a variety of formats, depending on your security requirement. This guide takes an in-depth look at each type including hardware, paper, and software wallets. By knowing the benefits and risks of each type of wallet, you can make an informed decision on which type to buy, how much of your cryptocurrency you should store, and the vulnerabilities you may be leaving yourself open to. To get you started with your research, we point you towards some of the leading wallets available on the market. Download our definitive guide to find out more . 5. A definitive guide to the top five cryptocurrencies Wherever you are on your cryptocurrency journey, you will have undoubtedly heard of Bitcoin. But have you heard about the other four leading currencies, including Ripple and Ethereum? If you haven’t, or if you want to know more, then this guide is for you. Cryptocurrencies also differ in their type and intention. While Bitcoin still holds the majority of market capitalisation, altcoins are now on the rise. Other types of currencies, such as stablecoins and privacy coins, are also gaining a greater following. To find out what they are and why they are driving up competition in the market place, download this guide. You’ll receive an overview of the leading cryptocurrencies, learn about their use cases, and discover why they have been created as an alternative to Bitcoin. Conclusion These five guides make cryptocurrency for beginners a lot easier to understand. Each guide provides practical tips and useful advice. We equip you with the knowledge you need to take the next step of your cryptocurrency journey. The post Cryptocurrency for beginners deciphered in five definitive guides appeared first on Coin Rivet . || Building your cryptocurrency portfolio? Here’s five must read guides!: Whether you’re new to the space or you’ve been building your cryptocurrency portfolio for a while, it’s always crucial to keep up-to-date with the latest insights and market movements. The cryptocurrency market is one rife with volatility, risk, and vulnerabilities. Most of all, it’s a market that’s always changing. Having a full understanding of the market and different currencies will help you to stay ahead of bull runs, keep warm in bear markets, and to know whether it’s time to HODL or not. Below, we’ve outlined some definitive guides that make for essential reading for anyone who wants to build up their portfolio. They’re also suitable for readers who are on the lookout for deeper insights. 1. A definitive guide to cryptocurrency If you’re brand new to investing in cryptocurrency, then this guide is the best place to start . It provides a comprehensive overview of the industry, including what cryptocurrency is, the issues it addresses, and its importance in the world of finance. It looks at the intentions and importance of decentralisation, why it’s a popular concept, and how it can give individuals greater authority and control of their own money. Afterall, when investing in cryptocurrency it’s important to know the philosophy behind the industry. This guide also covers the practicalities of investing and creating a cryptocurrency portfolio. Discover how to mine, earn, store and trade different types of cryptocurrency. We’ll also provide you with a brief overview of wallets, exchanges, and how to use them. 2. A definitive guide to stablecoins As the cryptocurrency industry has continued to progress, so have the types of coins available. Stablecoins counteract the volatility so often seen across the market. Often pegged to a fiat currency, this currency offers more control and confidence to crypto users. This guide takes a look at the top five stablecoins , what they are, and what they’re looking to achieve. We outline the shortcomings that these coins attempt to resolve, including usability and stability. Stablecoins can also be backed by reserve assets. For those interested in investing in cryptocurrency, gold-backed and oil-backed currencies may offer a greater alternative. Story continues To find out about stablecoins, as well as how to sell, buy and trade them, be sure to download this guide. 3. A definitive guide to privacy coins The main intention of Bitcoin was to give control back to individuals. Self-sovereignty was key. But even more significantly was the promise of privacy. However, it’s since been proven that Bitcoin transactions can easily be traced. The fight for privacy matters and it’s a fight that’s heating up throughout the industry. To overcome the shortcomings of cryptocurrency so far, privacy coins are starting to take the reign. This guide looks at what privacy coins are , why they exist, and what their underlying privacy technologies are. From Mimblewimble through to BEAM and Grin, we’ve got everything about privacy coins covered. 4. A definitive guide to cryptocurrency trading Investing in cryptocurrency and improving your cryptocurrency portfolio means you need to know all about trading. You need to know how to trade, where to trade, and what pitfalls to look out for. In this guide, we cover everything from wallets through to exchanges and some of the best trading strategies to use . If you want to learn about the benefits of peer-to-peer and other types of cryptocurrency trading, then this guide is for you. We take a look at why cryptocurrency traders value different methods so much and how certain types of trades offer more benefits than centralised banking. There are many risks involved with cryptocurrency trading, all of which come to light in this guide. However, we give you some practical tips, identify areas to avoid, and focus specifically on the dangers of using trading bots. Before you start investing and building up your cryptocurrency portfolio, this guide is definitely worth a read. 5. A definitive guide to crypto security It’s all very well talking about the volatility of cryptocurrency, but it’s not just the value it impacts. Anyone interested in investing in cryptocurrency must think carefully about their approach to identity management, fund protection, and cyber security. Why? Because cryptocurrency often goes hand-in-hand with crime. It’s a space known for vulnerabilities, thefts, 51% attacks, and money laundering. With no regulations in place, crypto users actually have very little protection or rights. If funds or private keys are stolen, they are often irretrievable. That’s why we outline how you can protect your cryptocurrency and some warning signs to look out for. We help you to identify common Bitcoin email scams, ways to improve your identity managements and how to tighten overall security. Download this guide to find out how you can keep yourself protected. Conclusion Investing in cryptocurrency can open up great opportunities – as long as you remember to tread with care. Do your research and keep up-to-date with the latest news. The market is always changing, as are the methods and platforms for trading. If you want to know more, we have a whole series of definitive guides that will answer some of your questions. The post Building your cryptocurrency portfolio? Here’s five must read guides! appeared first on Coin Rivet . || Building your cryptocurrency portfolio? Here’s five must read guides!: Whether you’re new to the space or you’ve been building your cryptocurrency portfolio for a while, it’s always crucial to keep up-to-date with the latest insights and market movements. The cryptocurrency market is one rife with volatility, risk, and vulnerabilities. Most of all, it’s a market that’s always changing. Having a full understanding of the market and different currencies will help you to stay ahead of bull runs, keep warm in bear markets, and to know whether it’s time to HODL or not. Below, we’ve outlined some definitive guides that make for essential reading for anyone who wants to build up their portfolio. They’re also suitable for readers who are on the lookout for deeper insights. 1. A definitive guide to cryptocurrency If you’re brand new to investing in cryptocurrency, then this guide is the best place to start . It provides a comprehensive overview of the industry, including what cryptocurrency is, the issues it addresses, and its importance in the world of finance. It looks at the intentions and importance of decentralisation, why it’s a popular concept, and how it can give individuals greater authority and control of their own money. Afterall, when investing in cryptocurrency it’s important to know the philosophy behind the industry. This guide also covers the practicalities of investing and creating a cryptocurrency portfolio. Discover how to mine, earn, store and trade different types of cryptocurrency. We’ll also provide you with a brief overview of wallets, exchanges, and how to use them. 2. A definitive guide to stablecoins As the cryptocurrency industry has continued to progress, so have the types of coins available. Stablecoins counteract the volatility so often seen across the market. Often pegged to a fiat currency, this currency offers more control and confidence to crypto users. This guide takes a look at the top five stablecoins , what they are, and what they’re looking to achieve. We outline the shortcomings that these coins attempt to resolve, including usability and stability. Stablecoins can also be backed by reserve assets. For those interested in investing in cryptocurrency, gold-backed and oil-backed currencies may offer a greater alternative. Story continues To find out about stablecoins, as well as how to sell, buy and trade them, be sure to download this guide. 3. A definitive guide to privacy coins The main intention of Bitcoin was to give control back to individuals. Self-sovereignty was key. But even more significantly was the promise of privacy. However, it’s since been proven that Bitcoin transactions can easily be traced. The fight for privacy matters and it’s a fight that’s heating up throughout the industry. To overcome the shortcomings of cryptocurrency so far, privacy coins are starting to take the reign. This guide looks at what privacy coins are , why they exist, and what their underlying privacy technologies are. From Mimblewimble through to BEAM and Grin, we’ve got everything about privacy coins covered. 4. A definitive guide to cryptocurrency trading Investing in cryptocurrency and improving your cryptocurrency portfolio means you need to know all about trading. You need to know how to trade, where to trade, and what pitfalls to look out for. In this guide, we cover everything from wallets through to exchanges and some of the best trading strategies to use . If you want to learn about the benefits of peer-to-peer and other types of cryptocurrency trading, then this guide is for you. We take a look at why cryptocurrency traders value different methods so much and how certain types of trades offer more benefits than centralised banking. There are many risks involved with cryptocurrency trading, all of which come to light in this guide. However, we give you some practical tips, identify areas to avoid, and focus specifically on the dangers of using trading bots. Before you start investing and building up your cryptocurrency portfolio, this guide is definitely worth a read. 5. A definitive guide to crypto security It’s all very well talking about the volatility of cryptocurrency, but it’s not just the value it impacts. Anyone interested in investing in cryptocurrency must think carefully about their approach to identity management, fund protection, and cyber security. Why? Because cryptocurrency often goes hand-in-hand with crime. It’s a space known for vulnerabilities, thefts, 51% attacks, and money laundering. With no regulations in place, crypto users actually have very little protection or rights. If funds or private keys are stolen, they are often irretrievable. That’s why we outline how you can protect your cryptocurrency and some warning signs to look out for. We help you to identify common Bitcoin email scams, ways to improve your identity managements and how to tighten overall security. Download this guide to find out how you can keep yourself protected. Conclusion Investing in cryptocurrency can open up great opportunities – as long as you remember to tread with care. Do your research and keep up-to-date with the latest news. The market is always changing, as are the methods and platforms for trading. If you want to know more, we have a whole series of definitive guides that will answer some of your questions. The post Building your cryptocurrency portfolio? Here’s five must read guides! appeared first on Coin Rivet . || Can the U.S. compete with China on 5G?: President Trump declared Friday he wants private companies, not the federal government, to take the lead in building America’s 5G telecommunications network. “In the United States, our approach isprivate sector-driven and private sector-led,” he told reporters in a White House appearance alongside Federal Communications Commission chairman Ajit Pai.
Trump’s statement was billed as an effort to promote a new spectrum auction and the allocation of new funds for bringing faster Internet service to rural areas. But, asFortune‘s Aaron Pressmanreportedyesterday, both initiatives were old news; Trump’s real aim was to squelcha well-funded lobbying effortto get the government to build the 5G network and lease it to private carriers.
Politicooffers a concise primer on thewarring factionsin the U.S. 5G debate. One on side: Pai and White House economic adviser Larry Kudlow, who say building out the new high-speed network should be left to telecommunications giants likeAT&TandVerizon. On the other: a coalition of Trump loyalists including Newt Gingrich and Trump’s 2020 campaign manager, Brad Parscale, who argue that, to ensure the U.S. doesn’t fall behind China, government must seize the initiative in developing 5G.
The Gingrich-Parscale camp touts a plan for the government to share 5G airwaves, via a third-party operator, with wireless companies on a wholesale basis. Backers of that approach, perPolitico, “include Rivada Networks, a politically connected firm backed by Trump ally and venture capitalist Peter Thiel that counts GOP operative Karl Rove as an investor and adviser.”
The Gingrich-Parscale plan is a modified version of an idea floated in a U.S. National Security Council memorevealedlast year byAxios. The memo advocated federal takeover of the 5G mobile network on the grounds that “China has achieved a dominant position in the manufacture and operation of network infrastructure.” The NSC proposal was “quickly killed off,” according to theFinancial Times.
Critics of the Gingrich-Parscale alternative say itsmacks of nationalization. AT&T and Verizon, through their trade association, have decried the idea. All four major U.S. carriers are rolling out their own 5G pilot programs, and promise 5G-compatible phones as early this year.
Trump’s comments yesterday appear to clarify who’s side he’s on. What’s unclear is whether the market-led approach will enable the U.S. to build out a 5G network faster and more effectively than China.
One prominent skeptic: Democratic FCC commissioner Jessica Rosenworcel, whotweetedFriday: “So far this Administration’s interventions on 5G have done more harm than good.” TheWall Street Journalnoted that manyWall Street observers, too, “are skeptical the policies announced Friday would do much to change the daunting math for private-sector companies tasked with building the costly new networks across the U.S.”
A report issued last summer by Deloitte Consulting, summarizedhereby Aaron, agues China is winning the 5G race. TheWashington PostsaysthisreportbyCisco Systemsoffers reasons Americans should “breathe easier” about the competition with China on 5G. Yet another report issued this month by global telecommunications research firm Analysts Mason concludes “theUnited States is tiedfor first with China in global 5G readiness.” About the only thing everyone does agree on when it comes to 5G: the stakes are enormous. More China news below. Clay Chandler@claychandlerclay.chandler@fortune.com
1. Innovation and TechAutomaker throws shapes.Geely, the Chinese car company that also owns Volvo, launched a new EV brand called Geometry. The company plans to launch 10 EV models under its new brand by 2025 – Tesla, founded in 2003, only offers three models – and claims to have over 26,000 orders for its first marque, Geometry A.ReutersLayoffs in store.JD.com, China’s second largest ecommerce site, might be downsizing staff.The Informationreports the retailer plans to lay off 12,000 employees, which is roughly 8% of its roster.JD.com has refuted the report, claiming it actually plans to make 15,000 new hires this year. Other tech companies, like Tencent and Didi, have been making cuts as China’s tech industry enters a freeze.FortuneShare and share a like.Xiang Hu Bao, an insurance product from Alibaba affiliate Ant Financial, has racked up 50 million users since launching last October. Anyone aged 30 days to 59 years can join. When a member makes a claim, which can reach a maximum of $45,000, everyone else chips in evenly to cover the payout. Ant hopes to cover 300 million users within two years but says Xiang Hu Bao isn’t an insurance product. If it were, it’d be subject to stricter regulation.Bloomberg
2. Economy and TradeTension in the pension.China’s key state pension fund may run dry by 2035, a think tank has warned, as China shuffles further into its aging population crisis – made worse by decades of a One Child Policy. The urban worker pension fund has a Rmb4.8 trillion ($714 billion) reserve. It’s expected to peak at Rmb7 trillion by 2027 then drop to zero by 2035.South China Morning PostGo set watchmen.Treasury Secretary Steven Mnuchin says China and the U.S. have agreed to set up “enforcement offices” to monitor the implementation of any deal the two sides strike to end the trade war. Mnuchin declined to comment whether the U.S. would use tariffs as an enforcement tool and keep the $250 billion of levies in place even after an agreement is reached.CNBCEU cools on China.The EU has taken a tougher stance against China in recent weeks. In March President Macron declared the era of Europeannaïvetéin regards to China was over. This week, with Premier Li Keqiang in Brussels for a summit with the EU, the two sides struggled to agree on the text of a joint statement. EU negotiators criticized China for not acting on previous agreements and nearly walked out on talks.Inkstone
3. In Case You Missed ItU.S. puts 37 Chinese companies and schools on red-flag ‘unverified’ listReutersPacific islands: a new arena of rivalry between China and the USFTChinese scientists have put human brain genes in monkeysMIT Technology ReviewWhat you may not understand about China’s AI sceneMIT Technology Review‘China’s Manhattan’ Borrowed Heavily. The People Have Yet to ArriveNYT
4. Politics and PolicyProtestors punished.Nine key organizers of Hong Kong’s “Umbrella Movement” were this week convicted for their role in the 2014 protests. The nine activists were charged with causing a public nuisance, which could carry a sentence of seven years prison. Supporters of the protests, which called for universal suffrage in local elections, have criticized the conviction as further evidence of Hong Kong’s suppression of free speech and political dissent. The nine convicted will be sentenced in two weeks.South China Morning PostBan on bitcoin?China’s state planner included cryptocurrency mining on a list of 450 industries it considers wasteful and hazardous, setting the stage for bitcoin mining to be officially outlawed. Trading cryptocurrency is already illegal in China, yet roughly 70% of the world’s Bitcoin is mined through the country. A ban in China could have knock on effects for the whole industry, butsome punditsthink it’s not as bad as the headlines say.WiredThis edition of CEO Daily was edited by Eamon Barrett. Findprevious editions here, andsign up for other Fortune newsletters here. || Can the U.S. compete with China on 5G?: President Trump declared Friday he wants private companies, not the federal government, to take the lead in building Americas 5G telecommunications network. In the United States, our approach is private sector-driven and private sector-led , he told reporters in a White House appearance alongside Federal Communications Commission chairman Ajit Pai. Trumps statement was billed as an effort to promote a new spectrum auction and the allocation of new funds for bringing faster Internet service to rural areas. But, as Fortune s Aaron Pressman reported yesterday, both initiatives were old news; Trumps real aim was to squelch a well-funded lobbying effort to get the government to build the 5G network and lease it to private carriers. Politico offers a concise primer on the warring factions in the U.S. 5G debate. One on side: Pai and White House economic adviser Larry Kudlow, who say building out the new high-speed network should be left to telecommunications giants like AT&T and Verizon . On the other: a coalition of Trump loyalists including Newt Gingrich and Trumps 2020 campaign manager, Brad Parscale, who argue that, to ensure the U.S. doesnt fall behind China, government must seize the initiative in developing 5G. The Gingrich-Parscale camp touts a plan for the government to share 5G airwaves, via a third-party operator, with wireless companies on a wholesale basis. Backers of that approach, per Politico , include Rivada Networks, a politically connected firm backed by Trump ally and venture capitalist Peter Thiel that counts GOP operative Karl Rove as an investor and adviser. The Gingrich-Parscale plan is a modified version of an idea floated in a U.S. National Security Council memo revealed last year by Axios . The memo advocated federal takeover of the 5G mobile network on the grounds that China has achieved a dominant position in the manufacture and operation of network infrastructure. The NSC proposal was quickly killed off , according to the Financial Times. Story continues Critics of the Gingrich-Parscale alternative say it smacks of nationalization . AT&T and Verizon, through their trade association, have decried the idea. All four major U.S. carriers are rolling out their own 5G pilot programs, and promise 5G-compatible phones as early this year. Trumps comments yesterday appear to clarify whos side hes on. Whats unclear is whether the market-led approach will enable the U.S. to build out a 5G network faster and more effectively than China. One prominent skeptic: Democratic FCC commissioner Jessica Rosenworcel, who tweeted Friday: So far this Administrations interventions on 5G have done more harm than good. The Wall Street Journal noted that many Wall Street observers, too , are skeptical the policies announced Friday would do much to change the daunting math for private-sector companies tasked with building the costly new networks across the U.S. A report issued last summer by Deloitte Consulting, summarized here by Aaron, agues China is winning the 5G race. The Washington Post says this report by Cisco Systems offers reasons Americans should breathe easier about the competition with China on 5G. Yet another report issued this month by global telecommunications research firm Analysts Mason concludes the United States is tied for first with China in global 5G readiness. About the only thing everyone does agree on when it comes to 5G: the stakes are enormous. More China news below. Clay Chandler @claychandler clay.chandler@fortune.com Innovation and Tech Automaker throws shapes. Geely, the Chinese car company that also owns Volvo, launched a new EV brand called Geometry. The company plans to launch 10 EV models under its new brand by 2025 Tesla, founded in 2003, only offers three models and claims to have over 26,000 orders for its first marque, Geometry A. Reuters Layoffs in store. JD.com, Chinas second largest ecommerce site, might be downsizing staff. The Information reports the retailer plans to lay off 12,000 employees, which is roughly 8% of its roster. JD.com has refuted the report , claiming it actually plans to make 15,000 new hires this year. Other tech companies, like Tencent and Didi, have been making cuts as Chinas tech industry enters a freeze. Fortune Share and share a like. Xiang Hu Bao, an insurance product from Alibaba affiliate Ant Financial, has racked up 50 million users since launching last October. Anyone aged 30 days to 59 years can join. When a member makes a claim, which can reach a maximum of $45,000, everyone else chips in evenly to cover the payout. Ant hopes to cover 300 million users within two years but says Xiang Hu Bao isnt an insurance product. If it were, itd be subject to stricter regulation. Bloomberg Economy and Trade Tension in the pension. Chinas key state pension fund may run dry by 2035, a think tank has warned, as China shuffles further into its aging population crisis made worse by decades of a One Child Policy. The urban worker pension fund has a Rmb4.8 trillion ($714 billion) reserve. Its expected to peak at Rmb7 trillion by 2027 then drop to zero by 2035. South China Morning Post Go set watchmen. Treasury Secretary Steven Mnuchin says China and the U.S. have agreed to set up enforcement offices to monitor the implementation of any deal the two sides strike to end the trade war. Mnuchin declined to comment whether the U.S. would use tariffs as an enforcement tool and keep the $250 billion of levies in place even after an agreement is reached. CNBC EU cools on China. The EU has taken a tougher stance against China in recent weeks. In March President Macron declared the era of European naïveté in regards to China was over. This week, with Premier Li Keqiang in Brussels for a summit with the EU, the two sides struggled to agree on the text of a joint statement. EU negotiators criticized China for not acting on previous agreements and nearly walked out on talks. Inkstone In Case You Missed It U.S. puts 37 Chinese companies and schools on red-flag unverified list Reuters Pacific islands: a new arena of rivalry between China and the US FT Chinese scientists have put human brain genes in monkeys MIT Technology Review What you may not understand about Chinas AI scene MIT Technology Review Chinas Manhattan Borrowed Heavily. The People Have Yet to Arrive NYT Politics and Policy Protestors punished. Nine key organizers of Hong Kongs Umbrella Movement were this week convicted for their role in the 2014 protests. The nine activists were charged with causing a public nuisance, which could carry a sentence of seven years prison. Supporters of the protests, which called for universal suffrage in local elections, have criticized the conviction as further evidence of Hong Kongs suppression of free speech and political dissent. The nine convicted will be sentenced in two weeks. South China Morning Post Ban on bitcoin? Chinas state planner included cryptocurrency mining on a list of 450 industries it considers wasteful and hazardous, setting the stage for bitcoin mining to be officially outlawed. Trading cryptocurrency is already illegal in China, yet roughly 70% of the worlds Bitcoin is mined through the country. A ban in China could have knock on effects for the whole industry, but some pundits think its not as bad as the headlines say. Wired This edition of CEO Daily was edited by Eamon Barrett. Find previous editions here , and sign up for other Fortune newsletters here . || 10 Books in Business and Journalism You Should Read This Spring: The days are longer and the sun is out later, and while that might seem like a prime time to get out of the house, that doesn’t mean you have to leave your books at home. This spring is already fruitful for the publishing industry, still riding the success of semi-recent releases like Michelle Obama’s memoir Becoming and Delia Owens’s novel Where the Crawdads Sing . Looking forward, there are a number of new noteworthy nonfiction releases in the names of business and journalism that are well worth your consideration. Doing Justice: A Prosecutor’s Thoughts on Crime, Punishment, and the Rule of Law by Preet Bharara Available Now Before he was one of the first of many to be fired by President Trump, it’s hard to say how many people knew the name Preet Bharara outside of New York City or legal circles, or even just New York legal circles. But the former U.S. Attorney for the Southern District of New York has since taken on the unofficial mantle as one of the esteemed critics of the current administration, frequently sharing candid takes on MSNBC and becoming prolific on Twitter , gaining more than a million followers. However, even with recent events in mind, Bharara’s book relies on his previous case histories and legal career to do the talking in their own right, letting the reader draw for themselves the lessons and conclusions about the state of the U.S. legal system and where it could go next. Kushner, Inc.: Greed. Ambition. Corruption. The Extraordinary Story of Jared Kushner and Ivanka Trump by Vicky Ward Available Now Just two years in to the Trump administration, and there doesn’t seem to be any shortage of material for book after book about the current White House . (One can only imagine how many there will be after Trump’s exit, whether that’s in two years or six years.) The family Trump, in particular, generates the most fascination, not only with readers but clearly with journalists and authors themselves. Honing in on two of the most mysterious characters in House Trump, Vicky Ward picks up somewhat where Vanity Fair ‘s Emily Jane Fox left off in last year’s Born Trump , which spent time with each member of the immediate family. Like with any unauthorized book, there were denials and backlash from Jared and Ivanka, through their attorneys. But like with many of the books that have come out about administration officials, many of the stories in Ward’s book have lined up with previously published accounts in most major mainstream outlets. Either way, it’s a juicy read. Story continues Say Nothing: A True Story of Murder and Memory in Northern Ireland by Patrick Radden Keefe Available Now To say this is a book about The Troubles is much like the use of the term “The Troubles” in itself: an oversimplification. New Yorker staff writer Patrick Radden Keefe does a masterful job of weaving together a myriad of narratives, themes, and characters to formulate a single book that is part history, part journalism, and part murder mystery. Even the title, Say Nothing , has a dual meaning: partially lifted from a Seamus Heaney poem and also a mantra for survival in Northern Ireland during three decades of terror and bloodshed. And yet, amid all of the heaviness and historical details, the book never feels overwhelming because it stays rooted among a core cast of characters. The narrative flows so fluidly that it almost feels like you’re reading a treatment for a screenplay to the next great HBO drama. Keefe manages to pull of this task—and possibly even solve one of the mysteries that propelled him to write this book—while maintaining a dedication to journalism and neutrality over a topic that is largely absent of any kind of neutral ground. The National Team: The Inside Story of the Women Who Changed Soccer by Caitlin Murray Available Now Currently the reigning World Cup and Olympic champions, the U.S. Women’s National Soccer Team has garnered headlines for a less-than-celebratory reason but no less important: a gender discrimination suit against the United States Soccer Federation. Filed in federal court in March, the lawsuit covers 28 members of USWMT, is seeking class action status, and hopes to add in anyone who has played for U.S. Women’s Soccer since February 2015. Citing “institutionalized gender discrimination,” issue covered in the suit range from disparate pay, training conditions, medical treatment, and transportation versus the coverage and services provided by U.S. Soccer to the men’s team. Amid all this is veteran sports writer Caitlin Murray’s new book about the Women’s National Team, offering a deeper dive at both the conditions the players have endured in spite of their constant success, whether it being historic TV ratings, multiple World Cup and Olympic wins, and record revenue generated for U.S. Soccer and FIFA. A contributor and correspondent for The New York Times , ESPN, Fox Sports, and The Guardian , Murray conducted more than 100 exclusive interviews for this book, including with some of the team’s most beloved and famous players, such as Alex Morgan, Carli Lloyd, Brandi Chastain, and Hope Solo. Ladies Who Punch: The Explosive Inside Story of The View by Ramin Setoodeh Available Now CNN’s Brian Stelter already cracked the shiny veneer of network morning news programs with his 2013 book Top of The Morning . Now Variety’s New York bureau chief Ramin Setoodeh is here to do the same with the somewhat less shiny, but more puffed up veneer of late morning TV: specifically ABC’s long-running talk show The View . After going to air first in 1997 with an ever-revolving door of hosts since, there is no shortage of material for Setoodeh to draw upon, and it doesn’t hurt that most of the tea came directly from the ladies of The View themselves in interviews for this book—some of whom have said publicly since that they regret doing. Maybe that’s because they didn’t expect the book to explode the way it did since being published on April 2. If you’re hoping to save one book for a beach or airport read this summer, this would be it. The Players Ball: A Genius, a Con Man, and the Secret History of the Internet’s Rise by David Kushner Available Now You might not have known there was drama about securing the rights to the Internet domain “Sex.com,” but on second thought, of course there was drama about securing the rights to the Internet domain “Sex.com.” Rolling Stone contributing editor David Kushner’s latest book examines just that in his latest book, which in true Rolling Stone style is much more rock-and-roll and raunchy than granola, sweater vests, and anything else associated with Internet workers out of Silicon Valley. Also part cat-and-mouse tale, The Players Ball recounts the intense, decades-long power struggle between two men—one of which was later the founder of Match.com and the other a con-man. Save Me the Plums: My Gourmet Memoir by Ruth Reichl Available Now Whether it’s a New York Times review of a restaurant rated three stars by Michelin or even just a 240-character tweet, no one writes quite like Ruth Reichl. The beloved food writer—who has served as a critic at the Los Angeles Times and the New York Times and penned more than half a dozen books (memoirs, cookbooks, and a novel)—is now shining a light on a time in her career that fans might be most curious about: her tenure as the last editor of Gourmet magazine. When Condé Nast shuttered the venerated title in 2009, it shocked nearly everyone, from readers to restaurant managers to other members of the media. But as she has since admitted in interviews and details in Save Me the Plums , no one was more shocked—or broken-hearted—than Reichl herself. As someone who has read all of Reichl’s books to date (and routinely tunes in to watch her guest appearances on shows like Top Chef or interviews with various food media podcasts), I’d recommend anything Reichl writes—even if you’re not interested in food media—as her work has always been a true literary feast for the reader. Hotbox: Inside Catering, the Food World’s Riskiest Business by Matt Lee and Ted Lee Available Now Caterers are often the most overlooked, and worse, poorly treated people at the party. Frankly, the way they’re treated often escalates based on how big or fancy the fête actually is. The Lee Brothers of South Carolina reveal much more than you could have imagined about what goes on behind the scenes in the catering business, which can be more wild than an event they’re serving. Dealing with early (and late) hours, tight budgets, demanding clients, extreme weather conditions—all while having to maintain a smile and a mantra of serving the customers. Catering can be a thankless job, but this book might make you reconsider how to conduct yourself next time you attend a catered event. Dutch Girl: Audrey Hepburn and World War II by Robert Matzen Available: April 15 There are few in Tinseltown who have been written about as much as Audrey Hepburn. The actress and humanitarian has long captured the public’s fascination across generations, even long after her death in 1993. But a new book from documentary filmmaker and Hollywood biographer Robert Matzen takes a look at a specific period in Hepburn’s early life that few are familiar with: the five years she spent in the Nazi-occupied Holland during World War II. This latest Hepburn biography is strengthened through a number of interviews of those closest to the late star, including her sons Sean Ferrer and Luca Dotti. Among the harrowing and tragic incidents shared in the new book include details about her participation in the Dutch Resistance, working as a doctor’s assistant during the battle of Arnhem, the execution of her uncle, and the Dutch famine of 1944 and 1945. Bitcoin Billionaires: A True Story of Genius, Betrayal, and Redemption by Ben Mezrich Available: May 21 Readers of 2009’s The Accidental Billionaires (or even viewers of the film adaptation The Social Network ) might have thought that brothers Tyler and Cameron Winklevoss got a short shrift—both in what happened at Facebook and having a smaller slice of the narrative. Now author Ben Mezrich is back to give the entrepreneurial twins, colloquially known in the tech world as the “Winklevii,” the lead roles in a new book about their lives and work after the late-aughts legal battle with Mark Zuckerberg. Cryptocurrency followers should already be familiar with the pair’s digital currency fund as bitcoin has blown up and gone haywire over the last few years. But Mezrich’s account of their last decade is gripping from the opening pages, setting it up supremely to be optioned by Hollywood producers. The narrative flourishes can be a bit much from time to time, as Mezrich tends to go overboard in describing how even a basic San Francisco law office looks (“eggshell-colored walls and industrial-beige carpets”). And that’s just page one. Those distractions aside, Mezrich has produced another page-turner. And yes, while it is about a pair of tech bros who came already from a privileged background and have still become wildly successful, it’s hard to imagine this will be the last installment about the Winklevoss twins given the unpredictability of both the crypto markets as well as the brothers’ extreme ambition. View comments || Five lessons you should learn before you start crypto trading: When you first start crypto trading, you are likely to learn some harsh lessons. The volatility in prices coupled with a 24/7 market means that you always have to be on your toes and ready to react. Whilst some people can make a lot of money, it always comes with risk, and you can be sure that there are just as many people who have lost a lot of money as well. Before you begin, here are five tips you should know. Fundamental research Before investing in a project, you should do a huge amount of research to ensure you are fully aware of all the positives and negatives. This can be particularly difficult. Finding accurate sources on projects is notoriously tough. Some people are so invested in projects – even the terrible ones – that they will not believe a bad word said about them. Instead, they will consistently talk about how their cryptocurrency is going to change the world and make them a lot of money at the same time. You will often find these people lurking on the usual social media sites such as Twitter or Reddit. But what key points should you be looking for? Firstly and obviously, you should look for a strong product. Too many cryptocurrencies are currently trying to build a new and improved version of what is already in existence. Yet their project is not only pointless, but worse than the current systems we have in place. Secondly, you should check how the cryptocurrency was created. Was it through a pre-mine with the developers holding the largest stash ready to dump on unsuspecting investors? Perhaps it was an ICO where they raised millions, but since then there has been little to no advancement? How consistent is the development team? Are updates both to the code and to the community provided on a regular basis? Are they open and honest? Or do they promise to tell you to wait and see but guarantee things are in the pipeline? What is the community that surrounds the cryptocurrency like? If they behave more akin to a cult than sensible adults, it is likely that the cryptocurrency isn’t going anywhere special. Story continues Learning who to trust and who to distrust in this industry is difficult. Unfortunately, there are many people in this industry who’s biggest money-maker is going to be you – “the chump”. They will attempt to get you to join their paid group or watch their YouTube channel claiming to be experts despite knowing very little. The easiest method is to follow the traditional Bitcoin saying: “Don’t trust, verify”. Patience Learning to be patient is a key skill when crypto trading. Rushing into decisions or FOMOing to a coin when you see a price rise is an easy mistake to make. Emotions can be extremely annoying and play tricks on you when trading cryptocurrencies. A better play when crypto trading would be to create a plan and ensure you stick to it. Be fearful when others are greedy and be greedy when others are fearful If everyone is getting excited about massive price rises, it is usually a good indication to sell some of your cryptocurrencies for profit. Similarly, if you are sensing quite a bit of depression, then that is also a useful indicator to begin loading up on cryptocurrencies. Whilst this may sound easy, it can actually be very difficult. Not getting sucked into the hype and controlling your emotions is one key skill you will need to learn if you want to become successful at crypto trading. Take some time off When you first start trading cryptocurrencies, you will probably get an adrenaline rush and be full of excitement. This can continue as you see your portfolio rise and fall over time. However, it can also be extremely draining and mentally consuming. Therefore, it is important that you take time off and enjoy the more important things in life. If you fail to do so, you could find yourself burning out quicker than you could imagine. This can hinder your decision making, so make sure you keep your brain and body fresh. Remember frens It's important to take a break from looking at the charts once in a while and enjoy the outdoors 😎 pic.twitter.com/K8wBqLxyHK — Kektoshi (@Kektoshi) April 10, 2019 Know your history If you are new to the cryptocurrency industry, you are in luck in that you have 10 years of history you can view – from coins that claimed to be “better than Bitcoin” but are now dead to Ponzi schemes that were able to rake in millions of dollars. Learning the lessons of the past will help you see through some of the lies and delusion that is still present today. Crypto trading conclusion Trading cryptocurrencies isn’t for everyone, and despite what you might hear, it isn’t easy. Just as many people have made money than have lost it as well. On top of this, it is extremely difficult to know who to listen to for fear of being scammed. Most people who trade do so purely so they can gain more Bitcoin. Buying and HODLing is another avenue should the world of cryptocurrency trading appear too scary for yourself. If you do decide to take the plunge though, don’t rush into it and ensure that you have done as much research as humanly possible. The post Five lessons you should learn before you start crypto trading appeared first on Coin Rivet . || Five lessons you should learn before you start crypto trading: When you first start crypto trading, you are likely to learn some harsh lessons. The volatility in prices coupled with a 24/7 market means that you always have to be on your toes and ready to react. Whilst some people can make a lot of money, it always comes with risk, and you can be sure that there are just as many people who have lost a lot of money as well. Before you begin, here are five tips you should know. Fundamental research Before investing in a project, you should do a huge amount of research to ensure you are fully aware of all the positives and negatives. This can be particularly difficult. Finding accurate sources on projects is notoriously tough. Some people are so invested in projects – even the terrible ones – that they will not believe a bad word said about them. Instead, they will consistently talk about how their cryptocurrency is going to change the world and make them a lot of money at the same time. You will often find these people lurking on the usual social media sites such as Twitter or Reddit. But what key points should you be looking for? Firstly and obviously, you should look for a strong product. Too many cryptocurrencies are currently trying to build a new and improved version of what is already in existence. Yet their project is not only pointless, but worse than the current systems we have in place. Secondly, you should check how the cryptocurrency was created. Was it through a pre-mine with the developers holding the largest stash ready to dump on unsuspecting investors? Perhaps it was an ICO where they raised millions, but since then there has been little to no advancement? How consistent is the development team? Are updates both to the code and to the community provided on a regular basis? Are they open and honest? Or do they promise to tell you to wait and see but guarantee things are in the pipeline? What is the community that surrounds the cryptocurrency like? If they behave more akin to a cult than sensible adults, it is likely that the cryptocurrency isn’t going anywhere special. Story continues Learning who to trust and who to distrust in this industry is difficult. Unfortunately, there are many people in this industry who’s biggest money-maker is going to be you – “the chump”. They will attempt to get you to join their paid group or watch their YouTube channel claiming to be experts despite knowing very little. The easiest method is to follow the traditional Bitcoin saying: “Don’t trust, verify”. Patience Learning to be patient is a key skill when crypto trading. Rushing into decisions or FOMOing to a coin when you see a price rise is an easy mistake to make. Emotions can be extremely annoying and play tricks on you when trading cryptocurrencies. A better play when crypto trading would be to create a plan and ensure you stick to it. Be fearful when others are greedy and be greedy when others are fearful If everyone is getting excited about massive price rises, it is usually a good indication to sell some of your cryptocurrencies for profit. Similarly, if you are sensing quite a bit of depression, then that is also a useful indicator to begin loading up on cryptocurrencies. Whilst this may sound easy, it can actually be very difficult. Not getting sucked into the hype and controlling your emotions is one key skill you will need to learn if you want to become successful at crypto trading. Take some time off When you first start trading cryptocurrencies, you will probably get an adrenaline rush and be full of excitement. This can continue as you see your portfolio rise and fall over time. However, it can also be extremely draining and mentally consuming. Therefore, it is important that you take time off and enjoy the more important things in life. If you fail to do so, you could find yourself burning out quicker than you could imagine. This can hinder your decision making, so make sure you keep your brain and body fresh. Remember frens It's important to take a break from looking at the charts once in a while and enjoy the outdoors 😎 pic.twitter.com/K8wBqLxyHK — Kektoshi (@Kektoshi) April 10, 2019 Know your history If you are new to the cryptocurrency industry, you are in luck in that you have 10 years of history you can view – from coins that claimed to be “better than Bitcoin” but are now dead to Ponzi schemes that were able to rake in millions of dollars. Learning the lessons of the past will help you see through some of the lies and delusion that is still present today. Crypto trading conclusion Trading cryptocurrencies isn’t for everyone, and despite what you might hear, it isn’t easy. Just as many people have made money than have lost it as well. On top of this, it is extremely difficult to know who to listen to for fear of being scammed. Most people who trade do so purely so they can gain more Bitcoin. Buying and HODLing is another avenue should the world of cryptocurrency trading appear too scary for yourself. If you do decide to take the plunge though, don’t rush into it and ensure that you have done as much research as humanly possible. The post Five lessons you should learn before you start crypto trading appeared first on Coin Rivet . || The Upside of Bitcoin’s Upside (It’s Not What You Think): Noelle Acheson is a veteran of company analysis and member of CoinDesk’s product team.
The following article originally appeared in Institutional Crypto by CoinDesk, a newsletter for the institutional market, with news and views on crypto infrastructure delivered every Tuesday. Sign uphere.
The rally last week in cryptocurrency prices sent tremors of excitement through the mainstream press – is bitcoin “doing its thing” again? Could we be on the verge of a breakout?
Bitcoin Defends Psychological Support Line After Price Dip to $4,900
These reports attract clicks and eyeballs, so I understand why they are run – but their breathless fascination with price volatility and potential profits misses the bigger impact.
While we can generally agree that investment gains are good, the broader benefit is this: cryptocurrency price increases throw into starker relief the uniqueness of the asset class.
(To avoid over-complicating the discussion, in this article I’ll focus on bitcoin – but the same or similar arguments can also be applied to other cryptocurrencies, depending on their characteristics.)
First, let’s compare bitcoin to other commodities.
Bitcoin Drops Back to $5K Price Support After Failed Breakout
In practically all other instances, a price increase affects supply. When gold or oil go up in price, there is an incentive to extract even more from the ground. Previously unprofitable mines or wells become profitable, and those that were to begin with become more so. Operators will logically seek to maximize the opportunity by producing what they can while prices are good, and supply goes up.
As supply goes up, however, demand generally comes down as consumption budgets are reallocated and substitutes are sought. As demand comes down, the price comes down again, which lowers the incentive to produce, which eventually lowers supply. And so on and so on.
Comparing bitcoin to fiat currencies displays a similar dynamic. An increase in demand for a currency relative to another one will eventually make goods denominated in that currency expensive compared to alternatives denominated in different ones.
With bitcoin, the price does not affect supply. At all. An increase in demand will lead to an increase in price which – without the “correcting mechanism” of a potential increase in supply and/or reallocation of demand – could continue indefinitely.
However, all markets need self-correcting mechanisms. One of bitcoin’s is transaction fees – a sharp increase in demand will most likely boost the fees the miners can charge when processing transactions, which could dampen the upswing in volumes.
This highlights the second significant differentiating factor, which is bitcoin’s ingenious incentive scheme. As the price goes up,the network becomes more secure.
Miners process blocks of transactions and, in compensation, are rewarded with a set number of bitcoins. As the price of bitcoin goes up, so does the value of the reward. More miners will be attracted by the potential profits from both the earned bitcoin and transaction fees. A greater number of miners results in better distributed network maintenance, which enhances the cryptocurrency’s resistance to bad actors.
This, in turn, should bolster confidence and demand, which should both increase the price and the network’s resilience even further.
This does not mean that a price bump will continue into the stratosphere indefinitely.
External factors such as regulation, the emergence of alternatives or even macroeconomic mood could have a significant dampening effect on demand. Internal factors such as forks and governance debates could also have an impact.
But one of the overlooked features of bitcoin is that,all other things being equal, it does not have a fundamental self-correcting mechanism like most other assets. Not only will a price increasenottrigger a supply/demand rebalancing, it actually enhances the network’s strength and potential demand.
“All other things” are rarely equal, however. Sentiment plays a powerful role in all markets, but especially in one such as bitcoin where widely accepted valuation methods don’t yet exist. As we saw in 2017-18, the “reflexivity” (in which perceptions affect the market which affects perceptions) that pushed the market up can bring it back down fast.
This, in a sense, is bitcoin’s main self-correcting mechanism: market skittishness. Given the relatively low liquidity and overall lack of transparency, traders and investors seem to follow the well-worn principle: “If you must panic, panic first.”
Yet even this is likely to be mitigated over time.
The crypto winter was not just about the building of a more robust (and regulated) market infrastructure; it was also about the education of institutional investors, who will no doubt bring more sophisticated trading strategies to the market.
While many institutions will probably take positions with a long-term view, we won’t be hearing them cry “To the moon!” There will come a time when their strategy indicates a lock-in of profits, and even a hint of volume selling could be enough to trigger a sharp correction.
But the same level of sophistication will also set floors for any correction, and as volumes grow, infrastructure continues to improve and valuation techniques develop, volatility will smooth as will the tendency for large market participants to react blindly to perceived shifts.
With this, the cryptocurrency’s fundamental characteristics will increasingly predominate investment decisions. And bitcoin and its peers will continue to show us that cryptocurrencies are, indeed, a different type of asset class.
Upside-down worldimage via Shutterstock
• This Bitcoin Price Pattern Suggests $5,800 Potential Ahead
• Bitcoin’s ‘Super Guppy’ Price Indicator Flips Bullish in First Since 2018
[Social Media Buzz]
1 BTC = 20139.00000000 BRL em 14/04/2019 ás 18:00:02. #bitcoin #bitcoinbr #bitcoinexchangebr || 仮想通貨相場に大きな影響を与え得る「重要ファンダ」予定表
株式市場が世界同時株安に見舞われ、仮想通貨市場との相関性も一部認められる中、11/6に開催される米中間選挙に注目。またCMEのBTC先物SQが日本時間「27日0:00」となっており、乱高下する可能性もあるため要注意。 pic.twitter.com/wMopW6EHLL || Market Cap: $173,840,185,654
BTC Dominance: 51.95%
BTC: $5117.76103741
ETH: 0.03236876 BTC
XRP: 0.00006383 BTC
BCH: 0.05515981 BTC
LTC: 0.01549124 BTC
15.04.2019 00:14:29
Powered by #Robostopia || A couple days ago I made a tw...
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5067.11, 5235.56, 5251.94, 5298.39, 5303.81, 5337.89, 5314.53, 5399.37, 5572.36, 5464.87
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Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 800.88, 834.28, 864.54, 921.98, 898.82, 896.18, 907.61, 933.20, 975.92, 973.50, 961.24, 963.74, 998.33, 1021.75, 1043.84, 1154.73, 1013.38, 902.20, 908.59, 911.20, 902.83, 907.68, 777.76, 804.83, 823.98, 818.41, 821.80, 831.53, 907.94, 886.62, 899.07, 895.03, 921.79, 924.67, 921.01, 892.69, 901.54, 917.59, 919.75, 921.59, 919.50, 920.38, 970.40, 989.02, 1011.80, 1029.91, 1042.90, 1027.34, 1038.15, 1061.35, 1063.07, 994.38, 988.67, 1004.45, 999.18, 990.64, 1004.55, 1007.48, 1027.44, 1046.21, 1054.42, 1047.87, 1079.98, 1115.30, 1117.44, 1166.72, 1173.68, 1143.84, 1165.20, 1179.97, 1179.97, 1222.50, 1251.01, 1274.99, 1255.15, 1267.12, 1272.83, 1223.54, 1150.00, 1188.49, 1116.72, 1175.83, 1221.38, 1231.92, 1240.00, 1249.61, 1187.81, 1100.23, 973.82, 1036.74.
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[Bitcoin Technical Analysis for 2017-03-19]
Volume: 406648000, RSI (14-day): 40.18, 50-day EMA: 1102.63, 200-day EMA: 882.80
[Wider Market Context]
None available.
[Recent News (last 7 days)]
Nearly $2 billion has been wiped off bitcoin’s value in three days all because of a fork: Just under $2 billion has been wiped off the value of bitcoin(Exchange: BTC=-USS)in under three days as a fight over the future of the technology underpinning the cryptocurrency wages on.
Bitcoin was trading at around $1,142.60 at time of publication, giving it a market cap of $18.53 billion, according to CoinDesk data. This is down from highs of $1,255.32 on Tuesday, which valued the total bitcoin pile at $20.36 billion.
Meanwhile, rival cryptocurrency ether is up over 84 percent from highs of $29.87 on Tuesday to trading at all-time highs of around $55 on Friday, according to Coinmarketcap.com. The market captilization shot from $2.68 billion to $4.95 billion. It is the only other cryptocurrency to be valued at over $1 billion.
Much of the inverse price movement stems from traders' worries over the future of bitcoin and the underpinning blockchain technology.
What's happened?
To understand the issue, it's key to look at how bitcoin transactions are processed. Transactions by users are gathered into "blocks" which is turned into a complex math solution. So-called miners, using high-powered computers work these solutions out to determine if the transaction is possible. Once other miners also check the puzzle is correct, the transactions are approved and the miners are rewarded in bitcoin.
But there's a massive backlog of transactions in bitcoin that are waiting to happen. The number of outstanding transactions is up more than four times from just six months ago, according to data from bitcoin wallet Blockchain. This is bad for a system that has promised fast and cheaper transactions than the traditional financial system.
Because of this, a group called Bitcoin Unlimited has emerged. This faction is suggesting increasing the size of the block which would allow more transactions to be bunched together and processed. Major bitcoin industry players including Roger Ver have backed the plan. But some developers in the community suggest that increasing the block size could be unsafe.
What's this about a fork?
The real concern is if Bitcoin Unlimited gains major support, it could have an impact on the underlying blockchain technology that supports bitcoin. Bitcoin Unlimited has about an 11 percent market share of all the "nodes" in existence. Nodes are the backbone of bitcoin's infrastructure and refer to those mining the transactions as well as those tracking the movement of bitcoin to make sure it is all working correctly.
Nodes can run Blockchain Unlimited software which would signal their support for increasing the block size. If 50 percent of bitcoin miners adopted Bitcoin Unlimited, there would then be two major blockchains and a "fork" would be created made of Bitcoin Core, the current main software behind the infrastructure, and Bitcoin Unlimited.
Both blockchains would continue to run as long as there are nodes running them. But there would then be essentially two different coins – Bitcoin and Bitcoin Unlimited.
So why has the price fallen?
And this is why bitcoin has seen sharp declines in price, while other cryptocurrencies like ether have gained support.
"Bitcoin traders may have wanted to offset some of their exposure should a fork occur or the scaling deadlock continue, and ether seems to be the most promising alternative. Bitcoin-ether volumes have surged since and are currently rivaling bitcoin-fiat currency trading liquidity," Aurélien Menant, founder and CEO of Gatecoin, a regulated blockchain assets exchange based in Hong Kong, told CNBC by email on Friday.
WatchThe ProfitonYahoo View, available now oniOSandAndroid.
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• Amazon flloats an idea for delivery drones with robotic wings and legs || Nearly $2 billion has been wiped off bitcoin’s value in three days all because of a fork: Just under $2 billion has been wiped off the value of bitcoin (Exchange: BTC=-USS) in under three days as a fight over the future of the technology underpinning the cryptocurrency wages on. Bitcoin was trading at around $1,142.60 at time of publication, giving it a market cap of $18.53 billion, according to CoinDesk data. This is down from highs of $1,255.32 on Tuesday, which valued the total bitcoin pile at $20.36 billion. Meanwhile, rival cryptocurrency ether is up over 84 percent from highs of $29.87 on Tuesday to trading at all-time highs of around $55 on Friday, according to Coinmarketcap.com. The market captilization shot from $2.68 billion to $4.95 billion. It is the only other cryptocurrency to be valued at over $1 billion. Much of the inverse price movement stems from traders' worries over the future of bitcoin and the underpinning blockchain technology. What's happened? To understand the issue, it's key to look at how bitcoin transactions are processed. Transactions by users are gathered into "blocks" which is turned into a complex math solution. So-called miners, using high-powered computers work these solutions out to determine if the transaction is possible. Once other miners also check the puzzle is correct, the transactions are approved and the miners are rewarded in bitcoin. But there's a massive backlog of transactions in bitcoin that are waiting to happen. The number of outstanding transactions is up more than four times from just six months ago, according to data from bitcoin wallet Blockchain. This is bad for a system that has promised fast and cheaper transactions than the traditional financial system. Because of this, a group called Bitcoin Unlimited has emerged. This faction is suggesting increasing the size of the block which would allow more transactions to be bunched together and processed. Major bitcoin industry players including Roger Ver have backed the plan. But some developers in the community suggest that increasing the block size could be unsafe. What's this about a fork? The real concern is if Bitcoin Unlimited gains major support, it could have an impact on the underlying blockchain technology that supports bitcoin. Bitcoin Unlimited has about an 11 percent market share of all the "nodes" in existence. Nodes are the backbone of bitcoin's infrastructure and refer to those mining the transactions as well as those tracking the movement of bitcoin to make sure it is all working correctly. Nodes can run Blockchain Unlimited software which would signal their support for increasing the block size. If 50 percent of bitcoin miners adopted Bitcoin Unlimited, there would then be two major blockchains and a "fork" would be created made of Bitcoin Core, the current main software behind the infrastructure, and Bitcoin Unlimited. Story continues Both blockchains would continue to run as long as there are nodes running them. But there would then be essentially two different coins – Bitcoin and Bitcoin Unlimited. So why has the price fallen? And this is why bitcoin has seen sharp declines in price, while other cryptocurrencies like ether have gained support. "Bitcoin traders may have wanted to offset some of their exposure should a fork occur or the scaling deadlock continue, and ether seems to be the most promising alternative. Bitcoin-ether volumes have surged since and are currently rivaling bitcoin-fiat currency trading liquidity," Aurélien Menant, founder and CEO of Gatecoin, a regulated blockchain assets exchange based in Hong Kong, told CNBC by email on Friday. Watch The Profit on Yahoo View , available now on iOS and Android . More From CNBC Siri vs Alexa: Amazon brings its voice assistant to the iPhone Apple plans two more R&D centers in China as challenges in the country continue Amazon flloats an idea for delivery drones with robotic wings and legs View comments || Bitcoin could be on the edge of a cliff: (A Bitcoin sign is seen in a window in TorontoThomson Reuters)
Let me be clear: I do not trade bitcoin, but I do write about it often.Before going into journalism, I spent my days trading. I learned a lot about technical analysis during that time, and right now, technical analysis spells huge trouble ahead for the cryptocurrency.
Let's recap what has been going on in the bitcoin market so far this year.
Bitcoin rallied 120% in 2016 and has been thetop-performing currencyin each of the last two years. It opened 2017 by gaining 20% in the first week before crashing 35% on news thatChina was going to consider clamping downon trading.
Since then, bitcoin has ripped higher by more than 50% even in the face of several pieces of bad news.
First, China's biggest bitcoin exchanges said they were going to start charging a 0.2% fee on all transactions (previously there was no fee). This was significant asnearly 100% of bitcoin's trading volumetakes places on China's exchanges.
Then, China's biggest exchanges said they were going toblock withdrawalsfrom trading accounts.
But bitcoin kept climbing higher.It put in a record high of $1,327 a coin on March 10 as traders piled in ahead of the US Securities and Exchange Commission's ruling on theWinklevoss twins' bitcoin exchange-traded fund(ETF). The SEC denied the ETF. There are two more SEC rulings on the way, the next being on March 30. Neither one is expected to pass.That ruling sent bitcoin crashing 16% lower, but again it was ultimately resilient in the face of bad news. Prices snapped back up in overnight trade and ended the following session above the previous day's opening price.
All of those ups and downs, though, have left the cryptocurrency in a precarious position. Take a look at a bitcoin chart:
(Investing.com)
The chart pattern appears to be putting in a classicdouble toppattern. In very simple terms, that's describing those two peaks you see highlighted above.
What the double top does, is give us a clue to where traders will go from buying to selling bitcoin. In order for this pattern to be activated, bitcoin would have to close below the neckline, which appears near the $1,100 level.
And while that hasn't happened yet, there is another troubling sign that's popping up on the charts.
(bitcoinity.org)
Bitcoin volume exploded into the end of 2016, but has vanished in 2017. This means that as the price was going up, the drop in volume didn't support the price trend. In other words, there wasn't any conviction behind the move. It appears that the transaction fees implemented by China's biggest exchanges have caused participation to dry up.
So where is bitcoin headed?
If the cryptocurrency falls below the neckline drawn on the first chart, the charts suggest a trip to the $900 area is likely. That's $300 a coin less than it's current level, or a 25% drop.
NOW WATCH:7 mega-billionaires who made a fortune last year
More From Business Insider
• Bitcoin crashes after the SEC rejects the Winklevoss twins' ETF
• Bitcoin super spikes to an all-time high
• Bitcoin makes a big comeback || Bitcoin could be on the edge of a cliff: FILE PHOTO - A Bitcoin sign is seen in a window in Toronto, May 8, 2014. REUTERS/Mark Blinch/File Photo (A Bitcoin sign is seen in a window in TorontoThomson Reuters) Let me be clear: I do not trade bitcoin, but I do write about it often. Before going into journalism, I spent my days trading. I learned a lot about technical analysis during that time, and right now, technical analysis spells huge trouble ahead for the cryptocurrency. Let's recap what has been going on in the bitcoin market so far this year. Bitcoin rallied 120% in 2016 and has been the top-performing currency in each of the last two years. It opened 2017 by gaining 20% in the first week before crashing 35% on news that China was going to consider clamping down on trading. Since then, bitcoin has ripped higher by more than 50% even in the face of several pieces of bad news. First, China's biggest bitcoin exchanges said they were going to start charging a 0.2% fee on all transactions (previously there was no fee). This was significant as nearly 100% of bitcoin's trading volume takes places on China's exchanges. Then, China's biggest exchanges said they were going to block withdrawals from trading accounts. But bitcoin kept climbing higher. It put in a record high of $1,327 a coin on March 10 as traders piled in ahead of the US Securities and Exchange Commission's ruling on the Winklevoss twins' bitcoin exchange-traded fund (ETF). The SEC denied the ETF. There are two more SEC rulings on the way, the next being on March 30. Neither one is expected to pass. That ruling sent bitcoin crashing 16% lower, but again it was ultimately resilient in the face of bad news. Prices snapped back up in overnight trade and ended the following session above the previous day's opening price. All of those ups and downs, though, have left the cryptocurrency in a precarious position. Take a look at a bitcoin chart: Bitcoin (Investing.com) The chart pattern appears to be putting in a classic double top pattern. In very simple terms, that's describing those two peaks you see highlighted above. Story continues What the double top does, is give us a clue to where traders will go from buying to selling bitcoin. In order for this pattern to be activated, bitcoin would have to close below the neckline, which appears near the $1,100 level. And while that hasn't happened yet, there is another troubling sign that's popping up on the charts. Bitcoin volume (bitcoinity.org) Bitcoin volume exploded into the end of 2016, but has vanished in 2017. This means that as the price was going up, the drop in volume didn't support the price trend. In other words, there wasn't any conviction behind the move. It appears that the transaction fees implemented by China's biggest exchanges have caused participation to dry up. So where is bitcoin headed? If the cryptocurrency falls below the neckline drawn on the first chart, the charts suggest a trip to the $900 area is likely. That's $300 a coin less than it's current level, or a 25% drop. NOW WATCH: 7 mega-billionaires who made a fortune last year More From Business Insider Bitcoin crashes after the SEC rejects the Winklevoss twins' ETF Bitcoin super spikes to an all-time high Bitcoin makes a big comeback || Bitcoin could be on the edge of a cliff: (A Bitcoin sign is seen in a window in TorontoThomson Reuters)
Let me be clear: I do not trade bitcoin, but I do write about it often.Before going into journalism, I spent my days trading. I learned a lot about technical analysis during that time, and right now, technical analysis spells huge trouble ahead for the cryptocurrency.
Let's recap what has been going on in the bitcoin market so far this year.
Bitcoin rallied 120% in 2016 and has been thetop-performing currencyin each of the last two years. It opened 2017 by gaining 20% in the first week before crashing 35% on news thatChina was going to consider clamping downon trading.
Since then, bitcoin has ripped higher by more than 50% even in the face of several pieces of bad news.
First, China's biggest bitcoin exchanges said they were going to start charging a 0.2% fee on all transactions (previously there was no fee). This was significant asnearly 100% of bitcoin's trading volumetakes places on China's exchanges.
Then, China's biggest exchanges said they were going toblock withdrawalsfrom trading accounts.
But bitcoin kept climbing higher.It put in a record high of $1,327 a coin on March 10 as traders piled in ahead of the US Securities and Exchange Commission's ruling on theWinklevoss twins' bitcoin exchange-traded fund(ETF). The SEC denied the ETF. There are two more SEC rulings on the way, the next being on March 30. Neither one is expected to pass.That ruling sent bitcoin crashing 16% lower, but again it was ultimately resilient in the face of bad news. Prices snapped back up in overnight trade and ended the following session above the previous day's opening price.
All of those ups and downs, though, have left the cryptocurrency in a precarious position. Take a look at a bitcoin chart:
(Investing.com)
The chart pattern appears to be putting in a classicdouble toppattern. In very simple terms, that's describing those two peaks you see highlighted above.
What the double top does, is give us a clue to where traders will go from buying to selling bitcoin. In order for this pattern to be activated, bitcoin would have to close below the neckline, which appears near the $1,100 level.
And while that hasn't happened yet, there is another troubling sign that's popping up on the charts.
(bitcoinity.org)
Bitcoin volume exploded into the end of 2016, but has vanished in 2017. This means that as the price was going up, the drop in volume didn't support the price trend. In other words, there wasn't any conviction behind the move. It appears that the transaction fees implemented by China's biggest exchanges have caused participation to dry up.
So where is bitcoin headed?
If the cryptocurrency falls below the neckline drawn on the first chart, the charts suggest a trip to the $900 area is likely. That's $300 a coin less than it's current level, or a 25% drop.
NOW WATCH:7 mega-billionaires who made a fortune last year
More From Business Insider
• Bitcoin crashes after the SEC rejects the Winklevoss twins' ETF
• Bitcoin super spikes to an all-time high
• Bitcoin makes a big comeback || Did You Hear About MIT's New Civil Disobedience Award?: Did you hear about the MIT Media Lab's new proposition? If not, it's simple: win $250,000 by breaking the rules or shaking up the status quo. Yes, that's right. The MIT Media Lab's "Disobedience Award" will be presented to "a person or group engaged in what we believe is an extraordinary example of disobedience for the benefit of society." MIT explained that the winner needs to abide to non-violence measures and isn't limited to specific disciplines, such as scientific research, civil rights, freedom of speech, human rights and the freedom to innovate. Don't Count On A NYSE-Listed Company On Winning Needless to say, Western corporations follow the law and there are few, if any, companies that are "self-sacrificial" for the common good. Companies may take a stance, such as Apple Inc. (NASDAQ: AAPL ) refusing to comply with an FBI order to assist the government in unlocking an iPhone used by one of the terrorists involved in the San Bernardino attack. Bitcoin? It would be reasonable to assume a Bitcoin company could be considered for the award. The anonymous digital currency offers individuals across the world the ability to move money without government surveillance. This is especially true in heavily restricted countries like China where individuals aren't permitted to move $50,000 outside of the country. Are there any companies you think could or should be up for the award? See Also: Tim Cook: FBI Is Asking Apple For Something Too Dangerous To Create Brave New Coin Is The Bloomberg Of Blockchain See more from Benzinga Attention Detroit Entrepreneurs: Google Demo Day Is Right Around The Corner McDonald's Mobile Ordering Is Now A Reality Goldman Highlights Positive iPhone Data Out of China, Taiwan © 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Did You Hear About MIT's New Civil Disobedience Award?: Did you hear about theMIT Media Lab'snew proposition? If not, it's simple: win $250,000 by breaking the rules or shaking up the status quo.
Yes, that's right. The MIT Media Lab's "Disobedience Award" will be presented to "a person or group engaged in what we believe is an extraordinary example of disobedience for the benefit of society."
MIT explained that the winner needs to abide to non-violence measures and isn't limited to specific disciplines, such as scientific research, civil rights, freedom of speech, human rights and the freedom to innovate.
Don't Count On A NYSE-Listed Company On Winning
Needless to say, Western corporations follow the law and there are few, if any, companies that are "self-sacrificial" for the common good. Companies may take a stance, such asApple Inc.(NASDAQ:AAPL) refusing to comply with an FBI order to assist the government in unlocking an iPhone used by one of the terrorists involved in theSan Bernardino attack.
Bitcoin?
It would be reasonable to assume a Bitcoin company could be considered for the award.
The anonymous digital currency offers individuals across the world the ability to move money without government surveillance. This is especially true in heavily restricted countries like China where individuals aren't permitted to move $50,000 outside of the country.
Are there any companies you think could or should be up for the award?
See Also:
Tim Cook: FBI Is Asking Apple For Something Too Dangerous To Create
Brave New Coin Is The Bloomberg Of Blockchain
See more from Benzinga
• Attention Detroit Entrepreneurs: Google Demo Day Is Right Around The Corner
• McDonald's Mobile Ordering Is Now A Reality
• Goldman Highlights Positive iPhone Data Out of China, Taiwan
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || No Bitcoin ETF Says SEC: What's Next?: Bitcoin may be hogging limelight in the investing world, but its ETF form was not that attractive to the SEC. Winklevoss Bitcoin Trust has filed for one to make bets on this soaring digital currency easy. Investors were hoping for a YES from the SEC, but the opposite happened. The SEC declined the proposal apprehending chances of fraud (read: Will Bitcoin ETF See the Light of Day in March?).
What is Bitcoin?
Bitcoins are ‘mined’ by using a greater amount of computer processing power. However, since there is a fixed amount of bitcoins, as the limit is reached, it becomes hard to ‘mine’ for the coins. The best part of this system is that it is beyond the reach of central banks.
SEC Version
The committee did not “find the proposal to be consistent with Section 6(b)(5) of the Exchange Act, which requires, among other things, that the rules of a national securities exchange be designed to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest.”
The news hit the cryptocurrency hard on the March 10 judgement day when its price fell about 15% to $1,050. Bitcoin pricings had been firing on all cylinders since the beginning of 2017, which drove it past the $1,100 mark on February 21, 2017 – the highest in more than three years. Notably, its value beat the $900 mark in late December for the first time since February 2014. In mid-2015, the currency was at around $200 (read: Explaining Bitcoin and Crypto Currency).
The tussle between the U.S. Securities Exchange Commission and Winklevoss over the launch has been going on for about three years. In fact, the issuer has restructured the proposals for the Bitcoin ETF multiple times.
What Next?
While the first ETF did not gain approval, other issuers filed for their products on this currency. SolidX Partners sought SEC approval last July for its bitcoin ETF, SolidX Bitcoin Trust, which also would be listed on the NYSE. In January 2017, Grayscale Investments filed to list its own Bitcoin Investment Trust on the NYSE. The SEC’s rigidity could also make the situation tough for these two products.
However, after an initial dip, the bitcoin bounced back all over again. It has gained about 13% since the SEC’s decision. This could be because of the fact “bitcoin isn’t regulated by any government and has been used by consumers worldwide to shelter assets from inflation or political upheavals in their home countries.”
Bloomberg noted that bitcoin topped all key foreign-exchange trades, stock indexes, currencies and commodity contracts last year, which can be a proof of its sturdiness.
As per CNBC, “bitcoin is a very volatile asset” but doesn’t have a strong correlation with other asset classes. Bourgeoning trading volumes in China, bitcoin’s largest market, has favored the price. As Chinese investors wanted to shield their portfolio from a depreciating yuan, they bet big on bitcoin, driving the currency to double in 2016.
Moreover, trading volumes in China have been solid with the government taking proactive measures against illegal money transfer. As per an article published on CNBC, Bitcoin is emerging as a safe haven asset like gold.
WithSPDR Gold SharesGLD coming under pressure due to rising rate prospects in the U.S. and a higher greenback, one can possibly find safety in seemingly safe or alternative assets like bitcoin.
Other digital currencies like Ethereum, Dash and Monero have also been gaining considerable attention these days. Since SEC’s bitcoin ETF decision on March 10, 2017, these three currencies have gained about 60%, 59% and 40%, respectively.
Bottom Line
The prospect may be strengthening for bitcoin, but the SEC needs more proof of the safety in bitcoin trading. Only then can we expect a bitcoin ETF. As of now, investors have to be happy with traditional safe-haven assets and gold and silver bullion ETFs like GLD andiShares Silver TrustSLV (read: 3 Safe-Haven ETFs to Watch on Market Correction).
Want key ETF info delivered straight to your inbox?
Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week. Get it free >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportSPDR-GOLD TRUST (GLD): ETF Research ReportsISHARS-SLVR TR (SLV): ETF Research ReportsTo read this article on Zacks.com click here.Zacks Investment ResearchWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report || No Bitcoin ETF Says SEC: What's Next?: Bitcoin may be hogging limelight in the investing world, but its ETF form was not that attractive to the SEC. Winklevoss Bitcoin Trust has filed for one to make bets on this soaring digital currency easy. Investors were hoping for a YES from the SEC, but the opposite happened. The SEC declined the proposal apprehending chances of fraud (read: Will Bitcoin ETF See the Light of Day in March?).
What is Bitcoin?
Bitcoins are ‘mined’ by using a greater amount of computer processing power. However, since there is a fixed amount of bitcoins, as the limit is reached, it becomes hard to ‘mine’ for the coins. The best part of this system is that it is beyond the reach of central banks.
SEC Version
The committee did not “find the proposal to be consistent with Section 6(b)(5) of the Exchange Act, which requires, among other things, that the rules of a national securities exchange be designed to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest.”
The news hit the cryptocurrency hard on the March 10 judgement day when its price fell about 15% to $1,050. Bitcoin pricings had been firing on all cylinders since the beginning of 2017, which drove it past the $1,100 mark on February 21, 2017 – the highest in more than three years. Notably, its value beat the $900 mark in late December for the first time since February 2014. In mid-2015, the currency was at around $200 (read: Explaining Bitcoin and Crypto Currency).
The tussle between the U.S. Securities Exchange Commission and Winklevoss over the launch has been going on for about three years. In fact, the issuer has restructured the proposals for the Bitcoin ETF multiple times.
What Next?
While the first ETF did not gain approval, other issuers filed for their products on this currency. SolidX Partners sought SEC approval last July for its bitcoin ETF, SolidX Bitcoin Trust, which also would be listed on the NYSE. In January 2017, Grayscale Investments filed to list its own Bitcoin Investment Trust on the NYSE. The SEC’s rigidity could also make the situation tough for these two products.
However, after an initial dip, the bitcoin bounced back all over again. It has gained about 13% since the SEC’s decision. This could be because of the fact “bitcoin isn’t regulated by any government and has been used by consumers worldwide to shelter assets from inflation or political upheavals in their home countries.”
Bloomberg noted that bitcoin topped all key foreign-exchange trades, stock indexes, currencies and commodity contracts last year, which can be a proof of its sturdiness.
As per CNBC, “bitcoin is a very volatile asset” but doesn’t have a strong correlation with other asset classes. Bourgeoning trading volumes in China, bitcoin’s largest market, has favored the price. As Chinese investors wanted to shield their portfolio from a depreciating yuan, they bet big on bitcoin, driving the currency to double in 2016.
Moreover, trading volumes in China have been solid with the government taking proactive measures against illegal money transfer. As per an article published on CNBC, Bitcoin is emerging as a safe haven asset like gold.
WithSPDR Gold SharesGLD coming under pressure due to rising rate prospects in the U.S. and a higher greenback, one can possibly find safety in seemingly safe or alternative assets like bitcoin.
Other digital currencies like Ethereum, Dash and Monero have also been gaining considerable attention these days. Since SEC’s bitcoin ETF decision on March 10, 2017, these three currencies have gained about 60%, 59% and 40%, respectively.
Bottom Line
The prospect may be strengthening for bitcoin, but the SEC needs more proof of the safety in bitcoin trading. Only then can we expect a bitcoin ETF. As of now, investors have to be happy with traditional safe-haven assets and gold and silver bullion ETFs like GLD andiShares Silver TrustSLV (read: 3 Safe-Haven ETFs to Watch on Market Correction).
Want key ETF info delivered straight to your inbox?
Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week. Get it free >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportSPDR-GOLD TRUST (GLD): ETF Research ReportsISHARS-SLVR TR (SLV): ETF Research ReportsTo read this article on Zacks.com click here.Zacks Investment ResearchWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report || No Bitcoin ETF Says SEC: What's Next?: Bitcoin may be hogging limelight in the investing world, but its ETF form was not that attractive to the SEC. Winklevoss Bitcoin Trust has filed for one to make bets on this soaring digital currency easy. Investors were hoping for a YES from the SEC, but the opposite happened. The SEC declined the proposal apprehending chances of fraud (read: Will Bitcoin ETF See the Light of Day in March?). What is Bitcoin? Bitcoins are ‘mined’ by using a greater amount of computer processing power. However, since there is a fixed amount of bitcoins, as the limit is reached, it becomes hard to ‘mine’ for the coins. The best part of this system is that it is beyond the reach of central banks. SEC Version The committee did not “find the proposal to be consistent with Section 6(b)(5) of the Exchange Act, which requires, among other things, that the rules of a national securities exchange be designed to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest.” The news hit the cryptocurrency hard on the March 10 judgement day when its price fell about 15% to $1,050. Bitcoin pricings had been firing on all cylinders since the beginning of 2017, which drove it past the $1,100 mark on February 21, 2017 – the highest in more than three years. Notably, its value beat the $900 mark in late December for the first time since February 2014. In mid-2015, the currency was at around $200 (read: Explaining Bitcoin and Crypto Currency). The tussle between the U.S. Securities Exchange Commission and Winklevoss over the launch has been going on for about three years. In fact, the issuer has restructured the proposals for the Bitcoin ETF multiple times. What Next? While the first ETF did not gain approval, other issuers filed for their products on this currency. SolidX Partners sought SEC approval last July for its bitcoin ETF, SolidX Bitcoin Trust, which also would be listed on the NYSE. In January 2017, Grayscale Investments filed to list its own Bitcoin Investment Trust on the NYSE. The SEC’s rigidity could also make the situation tough for these two products. Story continues However, after an initial dip, the bitcoin bounced back all over again. It has gained about 13% since the SEC’s decision. This could be because of the fact “bitcoin isn’t regulated by any government and has been used by consumers worldwide to shelter assets from inflation or political upheavals in their home countries.” Bloomberg noted that bitcoin topped all key foreign-exchange trades, stock indexes, currencies and commodity contracts last year, which can be a proof of its sturdiness. As per CNBC, “bitcoin is a very volatile asset” but doesn’t have a strong correlation with other asset classes. Bourgeoning trading volumes in China, bitcoin’s largest market, has favored the price. As Chinese investors wanted to shield their portfolio from a depreciating yuan, they bet big on bitcoin, driving the currency to double in 2016. Moreover, trading volumes in China have been solid with the government taking proactive measures against illegal money transfer. As per an article published on CNBC, Bitcoin is emerging as a safe haven asset like gold. With SPDR Gold Shares GLD coming under pressure due to rising rate prospects in the U.S. and a higher greenback, one can possibly find safety in seemingly safe or alternative assets like bitcoin. Other digital currencies like Ethereum, Dash and Monero have also been gaining considerable attention these days. Since SEC’s bitcoin ETF decision on March 10, 2017, these three currencies have gained about 60%, 59% and 40%, respectively. Bottom Line The prospect may be strengthening for bitcoin, but the SEC needs more proof of the safety in bitcoin trading. Only then can we expect a bitcoin ETF. As of now, investors have to be happy with traditional safe-haven assets and gold and silver bullion ETFs like GLD and iShares Silver Trust SLV (read: 3 Safe-Haven ETFs to Watch on Market Correction). Want key ETF info delivered straight to your inbox? Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week. Get it free >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report SPDR-GOLD TRUST (GLD): ETF Research Reports ISHARS-SLVR TR (SLV): ETF Research Reports To read this article on Zacks.com click here. Zacks Investment Research Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report || Venezuela is cracking down on 'bitcoin fever': Opposition supporters take part in a rally against President Nicolas Maduro's government in Caracas, Venezuela, October 26, 2016. REUTERS/Carlos Garcia Rawlins (Opposition supporters take part in a rally against President Nicolas Maduro's government in Caracas, Venezuela, October 26, 2016.Thomson Reuters) Venezuela's economy has seen its currency, the bolivar, plummet as inflation has spiraled into the triple digits , causing people there to struggle to meet their daily needs. In response, some Venezuelans have chosen to cross international borders to stock up on needed supplies, as others turn to a black market where goods are often sold in US dollars. Another alternative that has gained traction is bitcoin, a cryptocurrency whose value wobbles frequently and which can be used for clandestine purchases, both licit and illicit. Bitcoin has been embraced in Venezuela as the economy has faltered over the last few years, providing both a way of buying essential goods and resisting the unpopular government of President Nicolas Maduro. The number of users has surged from 450 in 2014 to 85,000 in 2016, according to Venezuelan bitcoin trading exchange Surbitcoin. "Bitcoin is a way of rebelling against the system," Caracas-based software developer John Villar told Reuters in October 2014, not long after he started using the cryptocurrency for online purchases. Bitcoin had dropped 70% between November 2013 and October 2014, but Venezuela's own currency had dropped 60% against the US dollar on the black market in the country over roughly the same period. "Even though bitcoin is volatile, it's still safer than the national currency," Kevin Charles, then a recent economics graduate, told Reuters . (Many Venezuelans still converted their bitcoin immediately into dollars, however.) "In Venezuela, we have a gold fever: a bitcoin fever!" a bitcoin miner someone who uses a complex computer setup to create bitcoins using elaborate algorithms said to Reuters in October 2014. Venezuela bitcoin cryptocurrency currency bolivar money Surbitcoin (The website of bitcoin trading exchange SurBitcoin on a computer in Caracas, October 5, 2014.REUTERS/Stringer) Now the Venezuelan government, long caught up in battles with the political opposition and in bloody struggles with rampant crime , has turned its attention to bitcoin users and producers. Story continues A recent post on a related subreddit by someone claiming to be a Venezuelan bitcoin miner, cited by The Washington Post , said the government was jailing miners and accusing them of terrorism, money laundering, and computer crimes. Two brothers in Caracas, who spoke to The Post anonymously, said police had raided their home in November, demanding $1,000 bribes for each of their more than 90 mining terminals. They paid up, they said. Despite its other turmoil, Venezuela, which has no laws against bitcoin, had been amenable to bitcoin miners, for whom electricity can be their biggest expense. Electricity is heavily subsidized in the Caribbean nation, where the longstanding socialist government has provided many services and goods to the population at low cost. (Those subsidies have also inspired profligate use by residents.) Caracas Venezuela blackout (Buildings left unlit during a partial blackout in Caracas, January 13, 2010.Reuters) The intense power demands of mining terminals may be the undoing of some miners, however. State power authorities can reportedly detect outsize power usage , and some miners who have been arrested were charged with electricity theft. The chief of the federal police agency said recently that bitcoin miners were imperiling the electrical service in a town south of Caracas, which is not implausible, considering that the country's electrical service, plagued by underinvestment and graft, has often been overwhelmed in times of high demand . (Thieves have also started pilfering electrical and communications gear for valuable components.) Despite enthusiasm for bitcoin in Venezuela, its spread may be hindered by the seemingly wide net of the authorities' crackdown and by the one-third of Venezuelans who don't have bank accounts. NOW WATCH: Here's how to use one of the many apps to buy and trade bitcoin More From Business Insider In the world's biggest cocaine producer, cultivation reportedly surged again in 2016 Italy and Mexico tracked down a fugitive mafia leader using his Facebook posts Ecuador's presidential election could have big consequences for the fate of Wikileaks Julian Assange || Venezuela is cracking down on 'bitcoin fever': (Opposition supporters take part in a rally against President Nicolas Maduro's government in Caracas, Venezuela, October 26, 2016.Thomson Reuters)
Venezuela's economy has seen its currency, the bolivar, plummet asinflation has spiraled into the triple digits, causingpeople there to struggleto meet their daily needs.
In response, some Venezuelans have chosen tocross international bordersto stock up on needed supplies, as others turn to a black market where goods are often sold in US dollars.
Another alternative that has gained traction is bitcoin, a cryptocurrency whose value wobbles frequently and which can be used for clandestine purchases, both licit and illicit.
Bitcoin has been embraced in Venezuela as the economy has faltered over the last few years, providing both a way of buying essential goods and resisting theunpopular governmentof President Nicolas Maduro.
The number of users has surged from 450 in 2014 to 85,000 in 2016,accordingto Venezuelan bitcoin trading exchange Surbitcoin.
"Bitcoin is a way of rebelling against the system," Caracas-based software developer John Villartold Reutersin October 2014, not long after he started using the cryptocurrency for online purchases.
Bitcoin had dropped 70% between November 2013 and October 2014, but Venezuela's own currencyhad dropped 60%against the US dollar on the black market in the country over roughly the same period.
"Even though bitcoin is volatile, it's still safer than the national currency," Kevin Charles, then a recent economics graduate,told Reuters. (Many Venezuelans still converted their bitcoin immediately into dollars, however.)
"In Venezuela, we have a gold fever: a bitcoin fever!" a bitcoin miner — someone who uses a complex computer setup to create bitcoins using elaborate algorithms —said to Reutersin October 2014.
(The website of bitcoin trading exchange SurBitcoin on a computer in Caracas, October 5, 2014.REUTERS/Stringer)
Now the Venezuelan government, longcaught up in battleswith the political opposition and inbloody struggles with rampant crime, has turned its attention to bitcoin users and producers.
A recent post on a related subreddit by someone claiming to be a Venezuelan bitcoin miner,cited by The Washington Post, said the government was jailing miners and accusing them of terrorism, money laundering, and computer crimes.
Two brothers in Caracas,who spoke to The Postanonymously, said police had raided their home in November, demanding $1,000 bribes for each of their more than 90 mining terminals. They paid up, they said.
Despite its other turmoil, Venezuela, whichhas no lawsagainst bitcoin, had been amenable to bitcoin miners, for whom electricity can be their biggest expense.
Electricity isheavily subsidizedin the Caribbean nation, where the longstanding socialist government has provided many services and goods to the population at low cost. (Those subsidies have also inspired profligate use by residents.)
(Buildings left unlit during a partial blackout in Caracas, January 13, 2010.Reuters)
The intense power demands of mining terminals may be the undoing of some miners, however. State power authorities can reportedlydetect outsize power usage, and some miners who have been arrested were charged with electricity theft.
The chief of the federal police agencysaid recentlythat bitcoin miners were imperiling the electrical service in a town south of Caracas, which is not implausible, considering that the country's electrical service, plagued by underinvestment and graft, has often beenoverwhelmed in times of high demand. (Thieves havealso started pilferingelectrical and communications gear for valuable components.)
Despite enthusiasm for bitcoin in Venezuela, its spread may be hindered by the seemingly wide net of the authorities' crackdown and by the one-third of Venezuelans who don't have bank accounts.
NOW WATCH:Here's how to use one of the many apps to buy and trade bitcoin
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• In the world's biggest cocaine producer, cultivation reportedly surged again in 2016
• Italy and Mexico tracked down a fugitive mafia leader using his Facebook posts
• Ecuador's presidential election could have big consequences for the fate of Wikileaks’ Julian Assange || Digital Currencies Went Crazy in the Wake of the SEC’s Bitcoin Ruling: Something strange is happening in the world of digital currency. When the Securities and Exchange Commission passed aharsh judgmentlast week on bitcoin, many expected the entire asset class to crumble.
Instead, the opposite has happened.
The SEC ruling, if you missed it, came down on Friday afternoon. The long-awaited decision, citing the possibility of fraud and market manipulation, rejected a proposal to create an exchange traded fund (ETF) for bitcoin, and threw cold water onhopes institutional investors would use the ETFto stock up on the currency. The market quicklypunished bitcoin, driving its price down to around $1,050--a more than 15% drop from its highs earlier that day.
But when it came to other digital currencies, investors didn’t bail on them. They started gobbling them up. These other currencies such as Ethereum and Ripple (there are dozens) aren’t as famous as bitcoin but have been around for a while, and some people treat them as a proxy asset for bitcoin. Since the SEC decision, they’ve all shot up, some of them dramatically.
Here is a chart that shows how the prices have changed. The data is compiled from each currency’s lowest price on March 10 (the day of the ruling) through Tuesday morning:
As you can see,Ethereumhas made spectacular gains. The currency, which is tied to a popular new form of blockchain technology, is up around 60%. Dash, a less well-known bitcoin rival, is up about 59%.
Get Data Sheet, Fortune's technology newsletter
The other surprise in chart is how nicely bitcoin has recovered from the SEC’s punch last Friday. Here’s a closer look, courtesy ofCoindesk, of how its price has moved since Friday:
As you can see, bitcoin is nudging back towards its near all-time high of $1,300, which came amid a frenzy of speculation that a positive SEC ruling would send the price soaring.
For now, there is no clear explanation of why bitcoin recovered so quickly, or why the so-called “alt-currencies” like Dash initially rose when bitcoin fell. Some commentators have suggested the recent boom comes from new digital currency converts who learned about the assets as a result of the publicity surrounding the ETF decision. Others say the recent prices simply reflect the fact that digital currencies are a far more sturdy asset than they were two years ago, and their values can no longer be derailed by a bit of negative news.
It’s also worth noting the SEC jolt from last week has brought about a change in the makeup of the overall market cap for digital currency. Note below how bitcoin’s share of the pie has dropped about 10% since the news:
The upshot of this is that while bitcoin still clearly dominates the digital currency world, other assets--particularly Ethereum--may now be emerging as more than also-rans.
See original article on Fortune.com
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• Here's Why National Napping Day Is Actually a Serious Matter || Digital Currencies Went Crazy in the Wake of the SEC’s Bitcoin Ruling: Something strange is happening in the world of digital currency. When the Securities and Exchange Commission passed aharsh judgmentlast week on bitcoin, many expected the entire asset class to crumble.
Instead, the opposite has happened.
The SEC ruling, if you missed it, came down on Friday afternoon. The long-awaited decision, citing the possibility of fraud and market manipulation, rejected a proposal to create an exchange traded fund (ETF) for bitcoin, and threw cold water onhopes institutional investors would use the ETFto stock up on the currency. The market quicklypunished bitcoin, driving its price down to around $1,050--a more than 15% drop from its highs earlier that day.
But when it came to other digital currencies, investors didn’t bail on them. They started gobbling them up. These other currencies such as Ethereum and Ripple (there are dozens) aren’t as famous as bitcoin but have been around for a while, and some people treat them as a proxy asset for bitcoin. Since the SEC decision, they’ve all shot up, some of them dramatically.
Here is a chart that shows how the prices have changed. The data is compiled from each currency’s lowest price on March 10 (the day of the ruling) through Tuesday morning:
As you can see,Ethereumhas made spectacular gains. The currency, which is tied to a popular new form of blockchain technology, is up around 60%. Dash, a less well-known bitcoin rival, is up about 59%.
Get Data Sheet, Fortune's technology newsletter
The other surprise in chart is how nicely bitcoin has recovered from the SEC’s punch last Friday. Here’s a closer look, courtesy ofCoindesk, of how its price has moved since Friday:
As you can see, bitcoin is nudging back towards its near all-time high of $1,300, which came amid a frenzy of speculation that a positive SEC ruling would send the price soaring.
For now, there is no clear explanation of why bitcoin recovered so quickly, or why the so-called “alt-currencies” like Dash initially rose when bitcoin fell. Some commentators have suggested the recent boom comes from new digital currency converts who learned about the assets as a result of the publicity surrounding the ETF decision. Others say the recent prices simply reflect the fact that digital currencies are a far more sturdy asset than they were two years ago, and their values can no longer be derailed by a bit of negative news.
It’s also worth noting the SEC jolt from last week has brought about a change in the makeup of the overall market cap for digital currency. Note below how bitcoin’s share of the pie has dropped about 10% since the news:
The upshot of this is that while bitcoin still clearly dominates the digital currency world, other assets--particularly Ethereum--may now be emerging as more than also-rans.
See original article on Fortune.com
More from Fortune.com
• Snow Storm Stella Hit the Stock Market Harder Than Wall Street Expected
• Here's Why Disney's Shares Are a Buy
• Why Ackman's Exit May Not Be the End of Valeant's Stock Plunge
• Verizon Wanted a Much Bigger Discount on Its Yahoo Bid
• Here's Why National Napping Day Is Actually a Serious Matter || Digital Currencies Went Crazy in the Wake of the SECs Bitcoin Ruling: Something strange is happening in the world of digital currency. When the Securities and Exchange Commission passed a harsh judgment last week on bitcoin, many expected the entire asset class to crumble. Instead, the opposite has happened. The SEC ruling, if you missed it, came down on Friday afternoon. The long-awaited decision, citing the possibility of fraud and market manipulation, rejected a proposal to create an exchange traded fund (ETF) for bitcoin, and threw cold water on hopes institutional investors would use the ETF to stock up on the currency. The market quickly punished bitcoin , driving its price down to around $1,050--a more than 15% drop from its highs earlier that day. But when it came to other digital currencies, investors didnt bail on them. They started gobbling them up. These other currencies such as Ethereum and Ripple (there are dozens) arent as famous as bitcoin but have been around for a while, and some people treat them as a proxy asset for bitcoin. Since the SEC decision, theyve all shot up, some of them dramatically. Here is a chart that shows how the prices have changed. The data is compiled from each currencys lowest price on March 10 (the day of the ruling) through Tuesday morning: As you can see, Ethereum has made spectacular gains. The currency, which is tied to a popular new form of blockchain technology, is up around 60%. Dash, a less well-known bitcoin rival, is up about 59%. Get Data Sheet , Fortune's technology newsletter The other surprise in chart is how nicely bitcoin has recovered from the SECs punch last Friday. Heres a closer look, courtesy of Coindesk , of how its price has moved since Friday: As you can see, bitcoin is nudging back towards its near all-time high of $1,300, which came amid a frenzy of speculation that a positive SEC ruling would send the price soaring. For now, there is no clear explanation of why bitcoin recovered so quickly, or why the so-called alt-currencies like Dash initially rose when bitcoin fell. Some commentators have suggested the recent boom comes from new digital currency converts who learned about the assets as a result of the publicity surrounding the ETF decision. Others say the recent prices simply reflect the fact that digital currencies are a far more sturdy asset than they were two years ago, and their values can no longer be derailed by a bit of negative news. Story continues Its also worth noting the SEC jolt from last week has brought about a change in the makeup of the overall market cap for digital currency. Note below how bitcoins share of the pie has dropped about 10% since the news: The upshot of this is that while bitcoin still clearly dominates the digital currency world, other assets--particularly Ethereum--may now be emerging as more than also-rans. See original article on Fortune.com More from Fortune.com Snow Storm Stella Hit the Stock Market Harder Than Wall Street Expected Here's Why Disney's Shares Are a Buy Why Ackman's Exit May Not Be the End of Valeant's Stock Plunge Verizon Wanted a Much Bigger Discount on Its Yahoo Bid Here's Why National Napping Day Is Actually a Serious Matter || Zacks Investment Ideas feature highlights: Alamos Gold, Avino Silver, Fortuna Silver and Great Panther Silver: For Immediate Release Chicago, IL – March 14, 2017 – Today, Zacks Investment Ideas feature highlights Features: Alamos Gold ( NYSE: AGI – Free Report ), Avino Silver ( NYSEMKT: ASM – Free Report ), Fortuna Silver ( NYSE: FSM – Free Report ) and Great Panther Silver ( NYSEMKT: GPL – Free Report ) . Bitcoin Crash Creates Golden Opportunity I’ve been wrong about my timing of the silver and gold trade twice now. Once to my followers in Momentum Trader and another time in a much more public way, on Bloomberg the end of last year. My fundamental investment thesis surrounding gold hasn’t been wrong just my timing. And now, with gold prices bouncing off $1,200 and last week’s Bitcoin debacle I’m taking another stab at it. The Bitcoin debacle I’m referring to is last week’s decision by the SEC to reject the Winklevoss Twins’ proposal for a Bitcoin ETF. An ETF would have helped to legitimize the cryptocurrency and expose it to an entire new market of potential investors. The SEC’s decision was based on the unregulated nature of the Bitcoin market itself. With no way of overseeing the underlying investment, there was no way the SEC could give it a stamp of approval. You could argue that Bitcoin and gold are both alternatives to global fiat currencies. Neither has a central bank which governs them nor do they pay interest. They are both a store of value and can be held anonymously. Gold and silver have a tendency to track with each other so I’m including it when I look for stock ideas. Of course there’s one giant difference between the two. Gold has been a historic store of value for ages and something you can physically possess. Bitcoin is a digital currency that was created from nothing a few years ago. There is still a huge amount of skepticism surrounding Bitcoin and other cryptocurrencies. A rash of high profile hacks, essentially digital bank robberies, have loomed like a cloud over Bitcoin for years. This ETF would have been something like a Bitcoin coming out party. However, that was not the case and Bitcoin’s value plunged in Friday trading. Nearly simultaneous there was a huge rally in gold prices with the metal bouncing from just under $1,200 an ounce, an obvious psychological support level. Gold still does have an inverse relationship with yields. As interest rates rise you tend to see pressure on gold prices. We all know the Fed is going to hike rates next week. That is a huge negative on gold pricing. But if the metal can rally even in the face of that hike, then there could be overpowering fundamentals at play. Story continues One way to play a potential continuation of silver and gold’s move higher is to look at the silver and gold miners. A lot of these companies got lean and mean in order to survive the plummet in prices and have emerged with much stronger balance sheets. They have found ways to minimize their acquisition costs and streamline their mining process. I’ve put together a list here of gold stocks that are Zacks Rank #1 (Strong Buy) and Zacks Rank #2 (Buy) stocks for you to investigate a little further. Alamos Gold ( NYSE: AGI – Free Report ) Alamos Gold Inc., together with its subsidiaries, engages in the acquisition, exploration, development, and extraction of gold deposits in North America. It also explores for silver and precious metals. The company holds interests in the Young-Davidson mine, which includes contiguous mineral leases and claims totaling 11,000 acres located in Northern Ontario, Canada; the Mulatos mine located within the Salamandra Concessions in the Sierra Madre Occidental mountain range in the east-central portion of the State of Sonora, Mexico; and the El Chanate mine that comprises 22 mineral concessions covering 4,618 hectares situated in the State of Sonora, Mexico. It also holds interests in a portfolio of development stage projects in Mexico, Turkey, Canada, and the United States. Avino Silver ( NYSEMKT: ASM – Free Report ) Avino Silver & Gold Mines Ltd. engages in the production and sale of silver, gold, and copper bulk concentrates; and the exploration, evaluation, and acquisition of mineral properties. The company owns 42 mineral claims and leases 4 mineral claims in the state of Durango, Mexico. It also holds 100% interests in the Bralorne mine located in the Lillooet mining division, British Columbia, Canada; and the Eagle property located in the Mayo mining division of Yukon, Canada. Fortuna Silver ( NYSE: FSM – Free Report ) Fortuna Silver Mines Inc. engages in the exploration, extraction, and processing of mineral properties in Latin America. The company explores for silver, gold, lead, and zinc deposits. It holds interests in the Caylloma mine located in the Arequipa Department in southern Peru; and the San Jose mine located in the State of Oaxaca in southern Mexico. Great Panther Silver ( NYSEMKT: GPL – Free Report ) Great Panther Silver Limited, a silver mining and exploration company, engages in the mining of mineral properties in Mexico. It explores for silver, gold, lead, and zinc. The company holds interests in the Topia Mine and Guanajuato Mine Complex properties. It also holds mineral property interests in the exploration stage, such as the El Horcon and Santa Rosa projects located in Mexico, and Coricancha Mine Complex located in the Central Andes of Peru. Bottom Line I think Bitcoin blowing up here could benefit gold and silver over the short run. That being said, a great way to play the rise in these metals could be to look at the silver and gold miners. This is a short list to start researching the best one to buy. Looking for Ideas with Even Greater Upside? Today's investment ideas are short-term, directly based on our proven 1 to 3 month indicator. In addition, I invite you to consider our long-term opportunities. These rare trades look to start fast with strong Zacks Ranks, but carry through with double and triple-digit profit potential. Starting now, you can look inside our home run, value, and stocks under $10 portfolios, plus more. Click here for a peek at this private information>> Get the full Report on AGI - FREE Get the full Report on ASM - FREE Get the full Report on FSM - FREE Get the full Report on GPL - FREE Follow us on Twitter: https://twitter.com/ZacksResearch Join us on Facebook: https://www.facebook.com/ZacksInvestmentResearch Zacks Investment Research is under common control with affiliated entities (including a broker-dealer and an investment adviser), which may engage in transactions involving the foregoing securities for the clients of such affiliates. Media Contact Zacks Investment Research 800-767-3771 ext. 9339 support@zacks.com https://www.zacks.com/performance Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Alamos Gold Inc. (AGI): Free Stock Analysis Report Avino Silver (ASM): Free Stock Analysis Report Fortuna Silver Mines Inc. (FSM): Free Stock Analysis Report Great Panther Silver Limited (GPL): Free Stock Analysis Report To read this article on Zacks.com click here. View comments || Zacks Investment Ideas feature highlights: Alamos Gold, Avino Silver, Fortuna Silver and Great Panther Silver: For Immediate Release Chicago, IL – March 14, 2017 – Today, Zacks Investment Ideas feature highlights Features: Alamos Gold ( NYSE: AGI – Free Report ), Avino Silver ( NYSEMKT: ASM – Free Report ), Fortuna Silver ( NYSE: FSM – Free Report ) and Great Panther Silver ( NYSEMKT: GPL – Free Report ) . Bitcoin Crash Creates Golden Opportunity I’ve been wrong about my timing of the silver and gold trade twice now. Once to my followers in Momentum Trader and another time in a much more public way, on Bloomberg the end of last year. My fundamental investment thesis surrounding gold hasn’t been wrong just my timing. And now, with gold prices bouncing off $1,200 and last week’s Bitcoin debacle I’m taking another stab at it. The Bitcoin debacle I’m referring to is last week’s decision by the SEC to reject the Winklevoss Twins’ proposal for a Bitcoin ETF. An ETF would have helped to legitimize the cryptocurrency and expose it to an entire new market of potential investors. The SEC’s decision was based on the unregulated nature of the Bitcoin market itself. With no way of overseeing the underlying investment, there was no way the SEC could give it a stamp of approval. You could argue that Bitcoin and gold are both alternatives to global fiat currencies. Neither has a central bank which governs them nor do they pay interest. They are both a store of value and can be held anonymously. Gold and silver have a tendency to track with each other so I’m including it when I look for stock ideas. Of course there’s one giant difference between the two. Gold has been a historic store of value for ages and something you can physically possess. Bitcoin is a digital currency that was created from nothing a few years ago. There is still a huge amount of skepticism surrounding Bitcoin and other cryptocurrencies. A rash of high profile hacks, essentially digital bank robberies, have loomed like a cloud over Bitcoin for years. This ETF would have been something like a Bitcoin coming out party. However, that was not the case and Bitcoin’s value plunged in Friday trading. Nearly simultaneous there was a huge rally in gold prices with the metal bouncing from just under $1,200 an ounce, an obvious psychological support level. Gold still does have an inverse relationship with yields. As interest rates rise you tend to see pressure on gold prices. We all know the Fed is going to hike rates next week. That is a huge negative on gold pricing. But if the metal can rally even in the face of that hike, then there could be overpowering fundamentals at play. Story continues One way to play a potential continuation of silver and gold’s move higher is to look at the silver and gold miners. A lot of these companies got lean and mean in order to survive the plummet in prices and have emerged with much stronger balance sheets. They have found ways to minimize their acquisition costs and streamline their mining process. I’ve put together a list here of gold stocks that are Zacks Rank #1 (Strong Buy) and Zacks Rank #2 (Buy) stocks for you to investigate a little further. Alamos Gold ( NYSE: AGI – Free Report ) Alamos Gold Inc., together with its subsidiaries, engages in the acquisition, exploration, development, and extraction of gold deposits in North America. It also explores for silver and precious metals. The company holds interests in the Young-Davidson mine, which includes contiguous mineral leases and claims totaling 11,000 acres located in Northern Ontario, Canada; the Mulatos mine located within the Salamandra Concessions in the Sierra Madre Occidental mountain range in the east-central portion of the State of Sonora, Mexico; and the El Chanate mine that comprises 22 mineral concessions covering 4,618 hectares situated in the State of Sonora, Mexico. It also holds interests in a portfolio of development stage projects in Mexico, Turkey, Canada, and the United States. Avino Silver ( NYSEMKT: ASM – Free Report ) Avino Silver & Gold Mines Ltd. engages in the production and sale of silver, gold, and copper bulk concentrates; and the exploration, evaluation, and acquisition of mineral properties. The company owns 42 mineral claims and leases 4 mineral claims in the state of Durango, Mexico. It also holds 100% interests in the Bralorne mine located in the Lillooet mining division, British Columbia, Canada; and the Eagle property located in the Mayo mining division of Yukon, Canada. Fortuna Silver ( NYSE: FSM – Free Report ) Fortuna Silver Mines Inc. engages in the exploration, extraction, and processing of mineral properties in Latin America. The company explores for silver, gold, lead, and zinc deposits. It holds interests in the Caylloma mine located in the Arequipa Department in southern Peru; and the San Jose mine located in the State of Oaxaca in southern Mexico. Great Panther Silver ( NYSEMKT: GPL – Free Report ) Great Panther Silver Limited, a silver mining and exploration company, engages in the mining of mineral properties in Mexico. It explores for silver, gold, lead, and zinc. The company holds interests in the Topia Mine and Guanajuato Mine Complex properties. It also holds mineral property interests in the exploration stage, such as the El Horcon and Santa Rosa projects located in Mexico, and Coricancha Mine Complex located in the Central Andes of Peru. Bottom Line I think Bitcoin blowing up here could benefit gold and silver over the short run. That being said, a great way to play the rise in these metals could be to look at the silver and gold miners. This is a short list to start researching the best one to buy. Looking for Ideas with Even Greater Upside? Today's investment ideas are short-term, directly based on our proven 1 to 3 month indicator. In addition, I invite you to consider our long-term opportunities. These rare trades look to start fast with strong Zacks Ranks, but carry through with double and triple-digit profit potential. Starting now, you can look inside our home run, value, and stocks under $10 portfolios, plus more. Click here for a peek at this private information>> Get the full Report on AGI - FREE Get the full Report on ASM - FREE Get the full Report on FSM - FREE Get the full Report on GPL - FREE Follow us on Twitter: https://twitter.com/ZacksResearch Join us on Facebook: https://www.facebook.com/ZacksInvestmentResearch Zacks Investment Research is under common control with affiliated entities (including a broker-dealer and an investment adviser), which may engage in transactions involving the foregoing securities for the clients of such affiliates. Media Contact Zacks Investment Research 800-767-3771 ext. 9339 support@zacks.com https://www.zacks.com/performance Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Alamos Gold Inc. (AGI): Free Stock Analysis Report Avino Silver (ASM): Free Stock Analysis Report Fortuna Silver Mines Inc. (FSM): Free Stock Analysis Report Great Panther Silver Limited (GPL): Free Stock Analysis Report To read this article on Zacks.com click here. View comments || Your first trade for Tuesday, March 14: The "Fast Money" traders shared their first moves for the market open.
Tim Seymour was a buyer of JPMorgan Chase(NYSE: JPM).
Brian Kelly was a buyer of Intel(NASDAQ: INTC).
Steve Grasso was a buyer of Citigroup(NYSE: C).
Guy Adami was a buyer of Goldman Sachs(NYSE: GS).
Trader disclosure: On March 13, 2017 , the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Guy Adami is long CELG, EXAS, GDX, INTC, Guy Adami's wife, Linda Snow, works at Merck. Steve Grasso's firm is long CUBA, DIA, HES, ICE, KDUS, MAT, MFIN, MJNA, MSFT, NE, RIG, SPY, TITXF, WDR, WPX, WLL, ZNGA. GRASSO IS LONG: CHK, EEM, EVGN, GDX, KBH, MJNA, MON, MU, OLN, PFE, PHM, QCOM, SNAP, SPY, T, TWTR. GRASSO'S KIDS OWN: EFA, EFG, EWJ, IJR, SPY. No Shorts. Brian Kelly is long Bitcoin, XBI, DXJ, TBT, DXY. Short: Yen, US Treasury Bonds.Tim Seymour is long ABX, AAPL, APC, AVP, BAC, BBRY, C, CLF, CVX, DO, DVYE, EDC, EWN, EWZ, F, FB, FCX, FXI, GM, GOOGL, GE, INTC, LQD, MOS, MCD, MUR, OIH, PG, RACE, RAI, RH, RL, SINA, SQ,T, TWTR, VALE, VZ, XOM. short: EEM, SPY, XRT; Tim Seymour's firm is long ABX, BABA, BIDU, CBD, CLF, EEM, EWZ, F, KO, MCD, MPEL, NKE, PEP, PF, TCEHY, SAVE, SBUX, SINA, VALE, VIAB, WMT, WEN, X, YHOO, short EWG, HYG, IWM.
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• Ackman to CNBC: 'I should have sold' Valeant earlier
• Valeant's biggest champion sells entire stake || Your first trade for Tuesday, March 14: The " Fast Money " traders shared their first moves for the market open. Tim Seymour was a buyer of JPMorgan Chase (NYSE: JPM) . Brian Kelly was a buyer of Intel (NASDAQ: INTC) . Steve Grasso was a buyer of Citigroup (NYSE: C) . Guy Adami was a buyer of Goldman Sachs (NYSE: GS) . Trader disclosure: On March 13, 2017 , the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Guy Adami is long CELG, EXAS, GDX, INTC, Guy Adami's wife, Linda Snow, works at Merck. Steve Grasso's firm is long CUBA, DIA, HES, ICE, KDUS, MAT, MFIN, MJNA, MSFT, NE, RIG, SPY, TITXF, WDR, WPX, WLL, ZNGA. GRASSO IS LONG: CHK, EEM, EVGN, GDX, KBH, MJNA, MON, MU, OLN, PFE, PHM, QCOM, SNAP, SPY, T, TWTR. GRASSO'S KIDS OWN: EFA, EFG, EWJ, IJR, SPY. No Shorts. Brian Kelly is long Bitcoin, XBI, DXJ, TBT, DXY. Short: Yen, US Treasury Bonds. Tim Seymour is long ABX, AAPL, APC, AVP, BAC, BBRY, C, CLF, CVX, DO, DVYE, EDC, EWN, EWZ, F, FB, FCX, FXI, GM, GOOGL, GE, INTC, LQD, MOS, MCD, MUR, OIH, PG, RACE, RAI, RH, RL, SINA, SQ,T, TWTR, VALE, VZ, XOM. short: EEM, SPY, XRT; Tim Seymour's firm is long ABX, BABA, BIDU, CBD, CLF, EEM, EWZ, F, KO, MCD, MPEL, NKE, PEP, PF, TCEHY, SAVE, SBUX, SINA, VALE, VIAB, WMT, WEN, X, YHOO, short EWG, HYG, IWM. More From CNBC Trading tech stocks after Intel/Mobileye deal Ackman to CNBC: 'I should have sold' Valeant earlier Valeant's biggest champion sells entire stake || Tuesday Hot Reads: Dividends Pile Up With This High Yield ETF: Compiled by ETF.com Staff
Dividends Pile Up With This High-Yield Dividend ETF(SeekingAlpha)The market is exceptionally expensive, butHDVshould be on the watchlist for potential opportunities.
Sector Rotation & The Momentum Factor(Newfound Research)Research indicates sector rotation strategies are just poorly executed versions of momentum investing.
These Fed Officials Give The Best Policy Signal(Bloomberg)A useful infographic on which Fed officials accurately indicate policy changes, based on a poll of economists.
12b-1 Fees: It Is Time To Bid Them Farewell?(Kitces.com)A look at an added cost to mutual funds that has become even more controversial with the rise of ETFs and fee-based advisors.
Schumer Warns Of Government Shutdown Over Trump’s Border Wall(Bloomberg)Senate Democrats warned Republicans Monday that attempts to take funding away from Planned Parenthood or pay for President Donald Trump’s border wall in a stopgap spending bill that must pass by late April would result in a government shutdown.
Oil Market Is About To Get Ugly(CNBC)Could we retrace the entirety of the gains off the February 2016 low at $26.05? It's quite possible, writes John Kilduff.
Learning From Wounds: What Lies Ahead For Other Bitcoin ETFs(The Cointelegraph)Considering the decision made on the Winklevoss Bitcoin ETF by the Securities and Exchange Commission on Friday, March 10, it's not likely the other two bitcoin ETF applications would be approved.
How Shale Is Reshaping The World: 3 New Wars(ZeroHedge)Quote: "The U.S. Shale revolution will accelerate the breakdown of the global order as we know it, reshaping global geopolitics, leading to three major conflicts: Russia vs. Europe, Iran vs. Saudi Arabia and an Asian tanker war."
The XLV Levels To Watch These Next 3 Weeks(Schaeffer’s Investment Research)With the GOP health care reform plan in focus,XLVappears to be in the process of forming a triple top.
Small-Cap Outperformance Since The Election & Shareholder Yield(MainStay Investments)Small- and midcap stocks have outperformed large-caps since the election. Can the upward move persist?
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Permalink| © Copyright 2017ETF.com.All rights reserved
[Social Media Buzz]
Try gktrading at https://LocalBitcoins.com/ad/450082?ch=w7m … only £830.00 per BTC. (BPI +3.19%) #buy #bitcoin #banktrans || $997.16 at 15:30 UTC [24h Range: $944.36 - $1011.00 Volume: 15073 BTC] || #Ripple #XRP $0.006904 (10.56%) 0.00000688 BTC (18.00%) || BTC: $1043.16, S: $17.41, G: $1230.00 | Act: 23,482 Open: 4335 BTC: 52,748.3 | Total: $55,035,884 http://goo.gl/U94Tki #bitcoin || $1043.20 #bitfinex;
$1050.62 #GDAX;
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#bitcoin news: http...
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1054.23, 1120.54, 1049.14, 1038.59, 937.52, 972.78, 966.72, 1045.77, 1047.15, 1039.97
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Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 251.99, 254.32, 262.87, 270.64, 261.64, 263.44, 269.46, 266.27, 274.02, 276.50, 281.65, 283.68, 285.30, 293.79, 304.62, 313.86, 328.02, 314.17, 325.43, 361.19, 403.42, 411.56, 386.35, 374.47, 386.48, 373.37, 380.26, 336.82, 311.08, 338.15, 336.75, 332.91, 320.17, 330.75, 335.09, 334.59, 326.15, 322.02, 326.93, 324.54, 323.05, 320.05, 328.21, 352.68, 358.04, 357.38, 371.29, 377.32, 362.49, 359.19, 361.05, 363.18, 388.95, 388.78, 395.54, 415.56, 417.56, 415.48, 451.94, 435.00, 433.76, 444.18, 465.32, 454.93, 456.08, 463.62, 462.32, 442.68, 438.64, 436.57, 442.40, 454.98, 455.65, 417.27, 422.82, 422.28, 432.98, 426.62, 430.57, 434.33, 433.44, 430.01, 433.09, 431.96, 429.11, 458.05, 453.23, 447.61, 447.99, 448.43.
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[Bitcoin Technical Analysis for 2016-01-11]
Volume: 40450000, RSI (14-day): 58.12, 50-day EMA: 414.00, 200-day EMA: 331.34
[Wider Market Context]
Gold Price: 1096.50, Gold RSI: 56.60
Oil Price: 31.41, Oil RSI: 28.11
[Recent News (last 7 days)]
You say advertising, I say block that malware: The real reason online advertising is doomed and adblockers thrive? Its malware epidemic is unacknowledged, and out of control.
The Forbes 30 Under 30 list came out this week and it featured a prominent security researcher. Other researchers were pleased to see one of their own getting positive attention, and visited the site in droves to view the list.
On arrival, like a growing number of websites, Forbes asked readers to turn off ad blockers in order to view the article. After doing so, visitors were immediately served with pop-under malware, primed to infect their computers, and likely silently steal passwords, personal data and banking information. Or, as is popular worldwide with these malware "exploit kits," lock up their hard drives in exchange for Bitcoin ransom.
One researcher commented on Twitter that the situation was "ironic" -- and while it's certainly another variant ofhackenfreude, ironic isn't exactly the word I'd use to describe what happened.
That's because this situation spotlights what happened in 2015 to billions -- yep, billions -- of people who were victims of virus-infected ads which were spread via ad networks like germs from a sneeze across the world's most popular websites.
Less than a month ago, a bogus banner ad was found serving malvertising to visitors of video site DailyMotion. After discovering it, security companyMalwarebytescontacted the online ad platform the bad ad was coming through, Atomx. The company blamed a "rogue" advertiser on the WWPromoter network.
It was estimated the adware broadcast through DailyMotion put 128 million people at risk. To be specific, it was from the notorious malware family called "Angler Exploit Kit." Remember this name, because I'm pretty sure we're going to be getting to know it a whole lot better in 2016.
Last August, Angler struck MSN.com with -- you guessed it -- another drive-by malvertising campaign. It was the same campaign that had infected Yahoo visitors back in July (an estimated 6.9 billion visits per month, it'sconsideredthe biggest malvertising attack so far).
October saw Angler targeting Daily Mail visitors through poisoned ads as well (monthly ad impressions64.4 million). Only last month, Angler's malicious ads hit visitors to Reader's Digest (210K readers;ad impressions 1.7M). That attack sat unattended after being in the press, and was fixed only after a week of public outcry.
It's crazy to consider what a perfect marriage this is, between the advertisers and the criminals pushing the exploit kits. They have alotin common.
Both try to trick us into giving them something we don't want to. We've recently learned that both entities surveil and track us beyond what we're OK with. And both are hard to get rid of. You know, like those gross toenail and skin condition ad-banners found at the bottom of every cheapo blog you've ever seen, forever burned into the "can't unsee" section of your brain.
It actually makes business sense to think about malware attacks like an advertiser. You want to deliver your infection to, and scrape those dollars from, every little reader out there. You need a targeted delivery system, with the widest distribution, and as many clueless middlemen as possible.
It's easy to want to blame Reader's Digest, or Yahoo, or Forbes, or Daily Mail, or any of these sites for screwing viewers by serving them malicious ads and not telling them, or not helping them with the cleanup afterward. And it's a hell of a lot easier when they've compelled us to turn off our ad blockers to simply see what brought us to their site.
But the problem is coming through them, from the ad networks themselves. The same ones, it should be mentioned, who control the Faustian bargains made by bartering and selling our information.
What should the websites do? The ad networks clearly don't have a handle on this at all, giving us one more reason to use ad blockers. They're practically the most popular malware delivery systems on Earth, and they're making the websites they do business with into the same poisonous monster. I don't even want to think about what it all means for the security practices of the ad companies handling our tracking data or the sites we visit hosting these pathogens.
So, to my friend on theForbes 30 Under 30 list-- a malware researcher, which I'll concede is actually ironic -- I'm sorry I won't be seeing your time in that particular spotlight. What we need is a word for the fact that ad blockers have become our first line of defense against a malware epidemic. Especially during a time when the sites we visit are begging, pleading, demanding and practically tricking us into turning off Ad Block Plus.
[Image credit: Getty Images] || You say advertising, I say block that malware: The real reason online advertising is doomed and adblockers thrive? Its malware epidemic is unacknowledged, and out of control. The Forbes 30 Under 30 list came out this week and it featured a prominent security researcher. Other researchers were pleased to see one of their own getting positive attention, and visited the site in droves to view the list. On arrival, like a growing number of websites, Forbes asked readers to turn off ad blockers in order to view the article. After doing so, visitors were immediately served with pop-under malware, primed to infect their computers, and likely silently steal passwords, personal data and banking information. Or, as is popular worldwide with these malware "exploit kits," lock up their hard drives in exchange for Bitcoin ransom. One researcher commented on Twitter that the situation was "ironic" -- and while it's certainly another variant of hackenfreude , ironic isn't exactly the word I'd use to describe what happened. The @Forbes website held content until I disabled Ad Blocker. I did so and was immediately given pop-under malware. pic.twitter.com/eDVRAA9ZSu — Brian Baskin (@bbaskin) January 4, 2016 That's because this situation spotlights what happened in 2015 to billions -- yep, billions -- of people who were victims of virus-infected ads which were spread via ad networks like germs from a sneeze across the world's most popular websites. Less than a month ago, a bogus banner ad was found serving malvertising to visitors of video site DailyMotion. After discovering it, security company Malwarebytes contacted the online ad platform the bad ad was coming through, Atomx. The company blamed a "rogue" advertiser on the WWPromoter network. It was estimated the adware broadcast through DailyMotion put 128 million people at risk. To be specific, it was from the notorious malware family called "Angler Exploit Kit." Remember this name, because I'm pretty sure we're going to be getting to know it a whole lot better in 2016. Story continues Last August, Angler struck MSN.com with -- you guessed it -- another drive-by malvertising campaign. It was the same campaign that had infected Yahoo visitors back in July (an estimated 6.9 billion visits per month, it's considered the biggest malvertising attack so far). October saw Angler targeting Daily Mail visitors through poisoned ads as well (monthly ad impressions 64.4 million ). Only last month, Angler's malicious ads hit visitors to Reader's Digest (210K readers; ad impressions 1.7M ). That attack sat unattended after being in the press, and was fixed only after a week of public outcry. It's crazy to consider what a perfect marriage this is, between the advertisers and the criminals pushing the exploit kits. They have a lot in common. pop-up ads coming out of laptop screen with a spring Both try to trick us into giving them something we don't want to. We've recently learned that both entities surveil and track us beyond what we're OK with. And both are hard to get rid of. You know, like those gross toenail and skin condition ad-banners found at the bottom of every cheapo blog you've ever seen, forever burned into the "can't unsee" section of your brain. It actually makes business sense to think about malware attacks like an advertiser. You want to deliver your infection to, and scrape those dollars from, every little reader out there. You need a targeted delivery system, with the widest distribution, and as many clueless middlemen as possible. It's easy to want to blame Reader's Digest, or Yahoo, or Forbes, or Daily Mail, or any of these sites for screwing viewers by serving them malicious ads and not telling them, or not helping them with the cleanup afterward. And it's a hell of a lot easier when they've compelled us to turn off our ad blockers to simply see what brought us to their site. But the problem is coming through them, from the ad networks themselves. The same ones, it should be mentioned, who control the Faustian bargains made by bartering and selling our information. What should the websites do? The ad networks clearly don't have a handle on this at all, giving us one more reason to use ad blockers. They're practically the most popular malware delivery systems on Earth, and they're making the websites they do business with into the same poisonous monster. I don't even want to think about what it all means for the security practices of the ad companies handling our tracking data or the sites we visit hosting these pathogens. So, to my friend on the Forbes 30 Under 30 list -- a malware researcher, which I'll concede is actually ironic -- I'm sorry I won't be seeing your time in that particular spotlight. What we need is a word for the fact that ad blockers have become our first line of defense against a malware epidemic. Especially during a time when the sites we visit are begging, pleading, demanding and practically tricking us into turning off Ad Block Plus. [Image credit: Getty Images] || Interest In Bitcoin Mining Returns: While markets around the world suffered significant turbulence this week, bitcoinclimbed6 percent.
The cryptocurrency is well known for its wild swings in valuation, but many say the digital currency is back on a more stable path and could prove a worthwhile investment in the New Year. In 2015, bitcoin fell as low, as $183 as confidence in the cryptocurrency's staying power waned. However, on Thursday, bitcoin was trading at $429, a significant increase.
Mining Returns
With bitcoin on the upswing, bitcoin mining has begun togain popularityonce again, according to Bloomberg.
Related Link:Mike Tyson Dives Deeper Into Bitcoin
When cryptocurrencies were first introduced, miners set up their computers to solve complex problems and be rewarded with the release of new coins. As the value of bitcoin went up, so did the profitability of bitcoin mining. However, last year as bitcoin prices plummeted, the number of miners significantly declined as the cost to buy hardware and pay electric bills to run the machines outweighed the rewards.
Now that bitcoin has made its way higher, mining efforts are increasing – especially among those who bought the necessary hardware last year, but haven't been able to make use of it.
A Risky Business
While mining is gaining popularity once again, many caution that bitcoin's price isn't the only factor that drives profitability for miners. This year, bitcoin's software will reduce the number of coins that miners receive for mining activities by half, something that could have an impact on the time it takes to recoup investment costs.
Not only that, but bitcoin's price is far from stable. In past years, bitcoin's wild swings in value have proven that it is difficult to predict whether the cryptocurrency will be able to continue trading at current levels, making investing in mining equipment a bit of a gamble.
Image Credit: Public Domain
See more from Benzinga
• Should Investors Be Worried About Apple?
• CES Paints Worrying Picture For Telecoms
• Netflix Gains On Expansion News, But Some Still Wary
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Interest In Bitcoin Mining Returns: While markets around the world suffered significant turbulence this week, bitcoin climbed 6 percent. The cryptocurrency is well known for its wild swings in valuation, but many say the digital currency is back on a more stable path and could prove a worthwhile investment in the New Year. In 2015, bitcoin fell as low, as $183 as confidence in the cryptocurrency's staying power waned. However, on Thursday, bitcoin was trading at $429, a significant increase. Mining Returns With bitcoin on the upswing, bitcoin mining has begun to gain popularity once again, according to Bloomberg. Related Link: Mike Tyson Dives Deeper Into Bitcoin When cryptocurrencies were first introduced, miners set up their computers to solve complex problems and be rewarded with the release of new coins. As the value of bitcoin went up, so did the profitability of bitcoin mining. However, last year as bitcoin prices plummeted, the number of miners significantly declined as the cost to buy hardware and pay electric bills to run the machines outweighed the rewards. Now that bitcoin has made its way higher, mining efforts are increasing – especially among those who bought the necessary hardware last year, but haven't been able to make use of it. A Risky Business While mining is gaining popularity once again, many caution that bitcoin's price isn't the only factor that drives profitability for miners. This year, bitcoin's software will reduce the number of coins that miners receive for mining activities by half, something that could have an impact on the time it takes to recoup investment costs. Not only that, but bitcoin's price is far from stable. In past years, bitcoin's wild swings in value have proven that it is difficult to predict whether the cryptocurrency will be able to continue trading at current levels, making investing in mining equipment a bit of a gamble. Image Credit: Public Domain See more from Benzinga Should Investors Be Worried About Apple? CES Paints Worrying Picture For Telecoms Netflix Gains On Expansion News, But Some Still Wary © 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Interest In Bitcoin Mining Returns: While markets around the world suffered significant turbulence this week, bitcoinclimbed6 percent.
The cryptocurrency is well known for its wild swings in valuation, but many say the digital currency is back on a more stable path and could prove a worthwhile investment in the New Year. In 2015, bitcoin fell as low, as $183 as confidence in the cryptocurrency's staying power waned. However, on Thursday, bitcoin was trading at $429, a significant increase.
Mining Returns
With bitcoin on the upswing, bitcoin mining has begun togain popularityonce again, according to Bloomberg.
Related Link:Mike Tyson Dives Deeper Into Bitcoin
When cryptocurrencies were first introduced, miners set up their computers to solve complex problems and be rewarded with the release of new coins. As the value of bitcoin went up, so did the profitability of bitcoin mining. However, last year as bitcoin prices plummeted, the number of miners significantly declined as the cost to buy hardware and pay electric bills to run the machines outweighed the rewards.
Now that bitcoin has made its way higher, mining efforts are increasing – especially among those who bought the necessary hardware last year, but haven't been able to make use of it.
A Risky Business
While mining is gaining popularity once again, many caution that bitcoin's price isn't the only factor that drives profitability for miners. This year, bitcoin's software will reduce the number of coins that miners receive for mining activities by half, something that could have an impact on the time it takes to recoup investment costs.
Not only that, but bitcoin's price is far from stable. In past years, bitcoin's wild swings in value have proven that it is difficult to predict whether the cryptocurrency will be able to continue trading at current levels, making investing in mining equipment a bit of a gamble.
Image Credit: Public Domain
See more from Benzinga
• Should Investors Be Worried About Apple?
• CES Paints Worrying Picture For Telecoms
• Netflix Gains On Expansion News, But Some Still Wary
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || 6 trades to watch in an uncertain market: After U.S. stocks followed global markets lower Thursday, "Fast Money" traders outlined what they deemed safe plays to ride out uncertainty.
Major averages each closed down more than 2 percent, after a brief Chinese trading session in which a 7 percent drop in the CSI300 triggered a halt. Traders looked to longer-term plays that could offer protection through volatility.
Market Vectors Gold Miners ETF(NYSE Arca: GDX)
The price of gold(CEC:Commodities Exchange Centre: @GC.1), a traditional "safe haven" asset, climbed Thursday amid the uncertainty in stock and oil markets. The Market Vectors Gold Miners ETF rose more than 4 percent for the day.
Both traders Guy Adami and Brian Kelly said gold likely has more upside ahead.
iShares 20+ Year Treasury Bond ETF(NYSE Arca: TLT)
U.S. Treasury prices rose in choppy trading Thursday amid a flight to safer assets, sending yields lower. In that environment, the iShares 20+ Year Treasury Bond ETF could make a good play, said Adami and trader Dan Nathan.
Utilities Select Sector SPDR Fund(NYSE Arca: XLU)
Utilities offer a place to "hide" in current markets, said trader Steve Grasso. Nathan also identified them as a defensive play because of their dividend yields.
They looked to the Utilities Select Sector SPDR Fund, which fell slightly on Thursday.
Retail
Shares of department store chain Macy's(NYSE: M)climbed about 2 percent Thursday in the wake of a restructuring announcement. Adami believes the stock can rise even more.
Grasso also outlined possible strength in American Eagle Outfitters(NYSE: AEO).
Verizon(NYSE: VZ)
Nathan also saw Verizon as a possible play for investors looking for yield.
Disclosures:
Dan Nathan
Dan Nathan is long MCD Feb Put Spread, Long PFE buy-write, long TWTR March Risk Reversal, long UUP March call, long XLU Feb Call spread, long PYPL Jan Risk Reversal, long M Jan16 call spread, long NTAP Jan risk reversal, long QCOM feb calls, short SPY, Long UUP, long WMT puts
Steve Grasso
Steve Grasso is long AAPL, BA, BAC, CC, DD, DIS, DECK, EVGN, KBH, MJNA, MBLY, MU, OLN, PFE, PHM, T, TWTR, GDX firm is long APC, CXO, OXY, BP, CVX, MCD, RIG, AMZN kids own EFA, EFG, EWJ, IJR, SPY
Brian Kelly
Brian Kelly is long BBRY, Bitcoin, GDX, GLD, Hong Kong Dollar, TLT, US Dollar; he is short British Pound, Euro, Yuan, Canadian Dollar, GSG, EEM, EWC, EWH, KRE, SPY, DB
Guy Adami
Guy Adami is long CELG, EXAS, GDX, INTC, Guy Adami's wife, Linda Snow, works at Merck.
More From CNBC
• Top News and Analysis
• Latest News Video
• Personal Finance || 6 trades to watch in an uncertain market: After U.S. stocks followed global markets lower Thursday, "Fast Money" traders outlined what they deemed safe plays to ride out uncertainty. Major averages each closed down more than 2 percent, after a brief Chinese trading session in which a 7 percent drop in the CSI300 triggered a halt. Traders looked to longer-term plays that could offer protection through volatility. Market Vectors Gold Miners ETF (NYSE Arca: GDX) The price of gold (CEC:Commodities Exchange Centre: @GC.1) , a traditional "safe haven" asset, climbed Thursday amid the uncertainty in stock and oil markets. The Market Vectors Gold Miners ETF rose more than 4 percent for the day. Both traders Guy Adami and Brian Kelly said gold likely has more upside ahead. iShares 20+ Year Treasury Bond ETF (NYSE Arca: TLT) U.S. Treasury prices rose in choppy trading Thursday amid a flight to safer assets, sending yields lower. In that environment, the iShares 20+ Year Treasury Bond ETF could make a good play, said Adami and trader Dan Nathan. Utilities Select Sector SPDR Fund (NYSE Arca: XLU) Utilities offer a place to "hide" in current markets, said trader Steve Grasso. Nathan also identified them as a defensive play because of their dividend yields. They looked to the Utilities Select Sector SPDR Fund, which fell slightly on Thursday. Retail Shares of department store chain Macy's (NYSE: M) climbed about 2 percent Thursday in the wake of a restructuring announcement. Adami believes the stock can rise even more. Grasso also outlined possible strength in American Eagle Outfitters (NYSE: AEO) . Verizon (NYSE: VZ) Nathan also saw Verizon as a possible play for investors looking for yield. Disclosures: Dan Nathan Dan Nathan is long MCD Feb Put Spread, Long PFE buy-write, long TWTR March Risk Reversal, long UUP March call, long XLU Feb Call spread, long PYPL Jan Risk Reversal, long M Jan16 call spread, long NTAP Jan risk reversal, long QCOM feb calls, short SPY, Long UUP, long WMT puts Story continues Steve Grasso Steve Grasso is long AAPL, BA, BAC, CC, DD, DIS, DECK, EVGN, KBH, MJNA, MBLY, MU, OLN, PFE, PHM, T, TWTR, GDX firm is long APC, CXO, OXY, BP, CVX, MCD, RIG, AMZN kids own EFA, EFG, EWJ, IJR, SPY Brian Kelly Brian Kelly is long BBRY, Bitcoin, GDX, GLD, Hong Kong Dollar, TLT, US Dollar; he is short British Pound, Euro, Yuan, Canadian Dollar, GSG, EEM, EWC, EWH, KRE, SPY, DB Guy Adami Guy Adami is long CELG, EXAS, GDX, INTC, Guy Adami's wife, Linda Snow, works at Merck. More From CNBC Top News and Analysis Latest News Video Personal Finance || Your first trade for Friday: The "Fast Money" traders delivered their final trades of the day.
Dan Nathan was a seller of Wal-Mart(WMT).
Steve Grasso was a buyer of American Eagle Outfitters(AEO).
Brian Kelly was a seller of Deutsche Bank(XETRA:DBK-DE).
Guy Adami was a buyer of the Market Vectors Gold Miners ETF(NYSE Arca: GDX)after picking Macy's(NYSE:M)three days in a row.
Trader disclosure: On January 7, 2016, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Dan Nathan is long MCD Feb put spread, long PFE buy-write, long TWTR March risk reversal, long UUP March call, long XLU Feb call spread, long PYPL Jan risk reversal, long M Jan16 call spread, long NTAP Jan risk reversal, long QCOM Feb calls, short SPY, long UUP, long WMT puts. Steve Grasso is long AAPL, BA, BAC, CC, DD, DIS, DECK, EVGN, KBH, MJNA, MBLY, MU, OLN, PFE, PHM, T, TWTR, GDX firm is long APC, CXO, OXY, BP, CVX, MCD, RIG, AMZN kids own EFA, EFG, EWJ, IJR, SPY. Brian Kelly is long BBRY, Bitcoin, GDX, GLD, Hong Kong Dollar, TLT, US Dollar; he is short British Pound, Euro, Yuan, Canadian Dollar, GSG, EEM, EWC, EWH, KRE, SPY, DB. Guy Adami is long CELG, EXAS, GDX, INTC, Guy Adami's wife, Linda Snow, works at Merck.
Wolfe Research Sr. Analyst Paul Sankey: No disclosures.
More From CNBC
• Top News and Analysis
• Latest News Video
• Personal Finance || Your first trade for Friday: The " Fast Money " traders delivered their final trades of the day. Dan Nathan was a seller of Wal-Mart ( WMT ) . Steve Grasso was a buyer of American Eagle Outfitters ( AEO ) . Brian Kelly was a seller of Deutsche Bank (XETRA:DBK-DE) . Guy Adami was a buyer of the Market Vectors Gold Miners ETF (NYSE Arca: GDX) after picking Macy's (NYSE: M ) three days in a row. Trader disclosure: On January 7, 2016, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Dan Nathan is l ong MCD Feb put spread, long PFE buy-write, long TWTR March risk reversal, long UUP March call, long XLU Feb call spread, long PYPL Jan risk reversal, long M Jan16 call spread, long NTAP Jan risk reversal, long QCOM Feb calls, short SPY, long UUP, long WMT puts. Steve Grasso is long AAPL, BA, BAC, CC, DD, DIS, DECK, EVGN, KBH, MJNA, MBLY, MU, OLN, PFE, PHM, T, TWTR, GDX firm is long APC, CXO, OXY, BP, CVX, MCD, RIG, AMZN kids own EFA, EFG, EWJ, IJR, SPY. Brian Kelly is long BBRY, Bitcoin, GDX, GLD, Hong Kong Dollar, TLT, US Dollar; he is short British Pound, Euro, Yuan, Canadian Dollar, GSG, EEM, EWC, EWH, KRE, SPY, DB. Guy Adami is long CELG, EXAS, GDX, INTC, Guy Adami's wife, Linda Snow, works at Merck. Wolfe Research Sr. Analyst Paul Sankey: No disclosures. More From CNBC Top News and Analysis Latest News Video Personal Finance || 10 Tech Predictions for 2016: As I always say, predicting what will happen in the tech industry over a short time horizon is a lot like shooting darts at Jell-O. But someone’s got to do it and it may as well be me. Besides, myprophecies for 2015didn’t do nearly as well asin 2014, and I’m itching to redeem myself.
I did hit a number of forecasts out of the park, including the success of Apple Pay and the demise of Twitter CEO Dick Costolo. And my prediction that the Nasdaq would break its all-time high and then fizzle out turned out to be reasonably accurate.
But a few of the calls I made, including those aboutnet neutralityand the Comcast – Time Warner Cable merger – were thwarted by Netflix CEO Reed Hastings and federal regulators. [Sigh.] And my bet oncinematic reality startup Magic Leapnever made the jump from virtual to reality.
Let’s see if I can do better this year. Here’s what my crystal ball says will happen in 2016:
Users will develop smart gadget fatigue.While smartphones and tablets, to a lesser extent, will continue to see strong growth in emerging markets, the growth curve will continue to flatten out in mature markets – especially among Android devices. Wearables will get a boost from Apple Watch 2 but unit sales will remain unimpressive compared with the incomparable iPhone.
Jack will tweak Twitter.O Twitter, Twitter! Wherefore art thou Twitter? The return of Jack Dorsey as CEO will see the cofounder do a lot of Facebook-like (move fast and break things) tweaking to Twitter, starting with increasing the 140 character tweet limit. Jack will continue to tweak the product until something good happens, as in renewed user growth and engagement.
Apple and Google car hype will reach fever pitch.Car tech is heating up in a big way. And since the market’s response to Apple’s first new products since Steve Jobs – Apple Watch and Apple TV (the product, not the hobby) – has been muted, fanboys will be clamoring for rumors on the car front. And Google will likewise be pressured to show progress on at least one of its massive Alphabet ventures, notably its self-driving car.
Drones will continue to bug neighbors, privacy buffs and the FAA.Drones will remain an annoying hobbyfor the foreseeable future. Unfortunately, nobody in desperate need of a midnight pizza or a six-pack will be getting one delivered by drone anytime soon. And definitely not anytime this year.
The digital and real worlds will meet in augmented reality (AR).Virtual reality has been the next big thingfor as far back as I can remember, but the technology behind Facebook Oculus Rift, Samsung Gear VR and Google Cardboard is becoming more real all the time. A breakthrough, however, is more likely in the AR space, where the digital and real worlds meet. That means something will pop from Magic Leap, Microsoft HoloLens, Google Glass 2, or who knows, maybe Apple.
The tech bubble will correct.With notable exceptions like Netflix and Amazon, tech stocks took a breather in 2015 after an impressive six-year bull run. But the slowing global economy, the Fed’s monetary tightening, and terrorism concerns will let some air out of theprivate equity bubbleand take the Nasdaq down into correction territory.
Satoshi Nakamoto, the mysterious Bitcoin founder, will not be found.Wired, Gizmodo and every other tech media outlet have been hot on the trail ofidentifying Satoshi Nakamoto, the pseudonym of Bitcoin’s mysterious founder. They thought they had it figured out a few weeks ago, but that turned out to be an elaborate hoax. Still, it was nowhere near as embarrassing asNewsweek’s Dorian Nakamotodebacle of 2014.
The IPO market will be weak.The private equity bubble is keeping late-stage startups that would ordinarily go public out of the IPO market. That will change when there’s a unicorn shakeout, investors get burned and VCs stop throwing money at startups at crazy valuations. That’s when tech companies will once again see public markets as viable exits. That’s when you’ll seeunicorns stampede on Wall Street. And it won’t be in 2016.
M&A activity will be strong.With the bull market running out of steam and private investors becoming more cautious, M&A exits will be on the rise. Unfortunately, a lot of them will be companies that maintain high burn rates until it’s too late and end up going for dimes on a dollar in fire sales.
Yahoo will sell its core business and Marissa Mayer will be out as CEO.Here’s a fun little rhyme for 2016, courtesy of Humpty Dumpty:
Yahoo Yahoo sat on a wallYahoo Yahoo had a great fallAll the Valley’s CEOs and all the Valley’s chairmenCouldn’t put Yahoo Yahoo together again
Jerry Yang, Carol Bartz, Roy Bostock, Tim Morse, Scott Thompson, Ross Levinsohn, Fred Amoroso, Maynard Webb. I’m sure I missed a CEO or chairman somewhere in there, but in any case, enough is enough. It’s long past time to put this company, its board, and Marissa Mayer out of their misery. Yahoo will be acquired or taken private in 2016.
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• The Most Annoying Aspects of Our Tech-Crazed Culture || 10 Tech Predictions for 2016: As I always say, predicting what will happen in the tech industry over a short time horizon is a lot like shooting darts at Jell-O. But someone’s got to do it and it may as well be me. Besides, my prophecies for 2015 didn’t do nearly as well as in 2014 , and I’m itching to redeem myself. I did hit a number of forecasts out of the park, including the success of Apple Pay and the demise of Twitter CEO Dick Costolo. And my prediction that the Nasdaq would break its all-time high and then fizzle out turned out to be reasonably accurate. But a few of the calls I made, including those about net neutrality and the Comcast – Time Warner Cable merger – were thwarted by Netflix CEO Reed Hastings and federal regulators. [Sigh.] And my bet on cinematic reality startup Magic Leap never made the jump from virtual to reality. Let’s see if I can do better this year. Here’s what my crystal ball says will happen in 2016: Users will develop smart gadget fatigue. While smartphones and tablets, to a lesser extent, will continue to see strong growth in emerging markets, the growth curve will continue to flatten out in mature markets – especially among Android devices. Wearables will get a boost from Apple Watch 2 but unit sales will remain unimpressive compared with the incomparable iPhone. Jack will tweak Twitter. O Twitter, Twitter! Wherefore art thou Twitter? The return of Jack Dorsey as CEO will see the cofounder do a lot of Facebook-like (move fast and break things) tweaking to Twitter, starting with increasing the 140 character tweet limit. Jack will continue to tweak the product until something good happens, as in renewed user growth and engagement. Apple and Google car hype will reach fever pitch. Car tech is heating up in a big way. And since the market’s response to Apple’s first new products since Steve Jobs – Apple Watch and Apple TV (the product, not the hobby) – has been muted, fanboys will be clamoring for rumors on the car front. And Google will likewise be pressured to show progress on at least one of its massive Alphabet ventures, notably its self-driving car. Drones will continue to bug neighbors, privacy buffs and the FAA. Drones will remain an annoying hobby for the foreseeable future. Unfortunately, nobody in desperate need of a midnight pizza or a six-pack will be getting one delivered by drone anytime soon. And definitely not anytime this year. The digital and real worlds will meet in augmented reality (AR). Virtual reality has been the next big thing for as far back as I can remember, but the technology behind Facebook Oculus Rift, Samsung Gear VR and Google Cardboard is becoming more real all the time. A breakthrough, however, is more likely in the AR space, where the digital and real worlds meet. That means something will pop from Magic Leap, Microsoft HoloLens, Google Glass 2, or who knows, maybe Apple. Story continues The tech bubble will correct. With notable exceptions like Netflix and Amazon, tech stocks took a breather in 2015 after an impressive six-year bull run. But the slowing global economy, the Fed’s monetary tightening, and terrorism concerns will let some air out of the private equity bubble and take the Nasdaq down into correction territory. Satoshi Nakamoto, the mysterious Bitcoin founder, will not be found. Wired, Gizmodo and every other tech media outlet have been hot on the trail of identifying Satoshi Nakamoto , the pseudonym of Bitcoin’s mysterious founder. They thought they had it figured out a few weeks ago, but that turned out to be an elaborate hoax. Still, it was nowhere near as embarrassing as Newsweek’s Dorian Nakamoto debacle of 2014. The IPO market will be weak. The private equity bubble is keeping late-stage startups that would ordinarily go public out of the IPO market. That will change when there’s a unicorn shakeout, investors get burned and VCs stop throwing money at startups at crazy valuations. That’s when tech companies will once again see public markets as viable exits. That’s when you’ll see unicorns stampede on Wall Street . And it won’t be in 2016. M&A activity will be strong. With the bull market running out of steam and private investors becoming more cautious, M&A exits will be on the rise. Unfortunately, a lot of them will be companies that maintain high burn rates until it’s too late and end up going for dimes on a dollar in fire sales. Yahoo will sell its core business and Marissa Mayer will be out as CEO. Here’s a fun little rhyme for 2016, courtesy of Humpty Dumpty: Yahoo Yahoo sat on a wall Yahoo Yahoo had a great fall All the Valley’s CEOs and all the Valley’s chairmen Couldn’t put Yahoo Yahoo together again Jerry Yang, Carol Bartz, Roy Bostock, Tim Morse, Scott Thompson, Ross Levinsohn, Fred Amoroso, Maynard Webb. I’m sure I missed a CEO or chairman somewhere in there, but in any case, enough is enough. It’s long past time to put this company, its board, and Marissa Mayer out of their misery. Yahoo will be acquired or taken private in 2016. Related Articles GM Eyes the Future With $500M Bet on Lyft Where You Can Watch and Participate in the GOP Debate The Most Annoying Aspects of Our Tech-Crazed Culture View comments || Cable & Wireless Communications and Huawei Have Successfully Tested the First Trial of the Fastest Copper Based Broadband Service With G.fast Across Latin America: MIAMI, FL--(Marketwired - Jan 6, 2016) - Cable & Wireless Communications Plc's (CWC) business unit in Panama, Cable & Wireless Panama SA (CWP) and Huawei , a leading global information and communications technology (ICT) solutions provider, today announced the first successful trial of the fastest copper based broadband service across Latin America using leading G.fast technology. As a market leader in mobile and broadband services in Panama, CWP is also the largest telecom service provider in the country with a market leading brand, superior network coverage and excellent customer service. CWP partnered with Huawei to deploy CWC's first trial of the G.fast technology on its existing copper infrastructure. "We are excited to be partnering with Cable & Wireless Communications and together pioneering the first trial of the fastest copper fixed line broadband service with G.fast across Latin America," said Mr. Stephen Ma, CEO of Huawei for the Caribbean. "G.fast is the right way to extend the existing fixed line infrastructure to the gigabit access era by accelerating a future oriented ultra-broadband solution with unparalleled user experiences," he added. The G.fast technology trial ran for two months in Panama deploying Huawei's latest multi-service access node equipment. CWP's trial successfully achieved high speeds averaging 500 Mbps to download and 150 Mbps to upload, over its existing copper fixed lines. "We are thrilled to announce that Cable & Wireless Panama was the first market across Latin America to have successfully completed testing of the G.fast technology, which can deliver high speeds, to its customers through the fastest copper based fixed line broadband technology across the region reaching speeds of 500 Mbps," said Carlo Alloni, EVP Technology and Group CTIO, Cable & Wireless Communications. "Our strategic partnership with Huawei has strengthened our commitment to consider solutions that deliver high-speeds," added Alloni. G.fast technology is based on the Time Division Multiplexing (TDM) method with an improved algorithm that cancels the noise in the lines, reducing the effects of crosstalk and allowing transmission of higher rates of bits with a better quality, increasing the speeds of the information transmitted. Huawei's G.fast solution can complement the other technologies selected for its HFC (Hybrid fiber-coaxial) and Fibre delivery platforms. CWP's G.fast technology is providing a fivefold increase in speeds compared to any existing internet copper residential service in Panama and empowering the fastest copper fixed line broadband service across Latin America. Story continues About Huawei Huawei is a leading global information and communications technology (ICT) solutions provider. Driven by customer-centric innovation and open partnerships, Huawei has established an end-to-end ICT solutions portfolio that gives customers competitive advantages in telecom and enterprise networks, devices and cloud computing. Its innovative ICT solutions, products and services are used in more than 170 countries and regions, serving over one-third of the world's population. Founded in 1987, Huawei is a private company fully owned by its employees. About G.fast G.fast is a digital subscriber line (DSL) standard for local loops, with performance targets between 150 Mbps and 1 Gbps, depending on loop length. Since the launch of the world's first G.FAST prototype by Huawei in December 2011, G.FAST technology has become highly anticipated by the ICT industry and has maintained strong development momentum. About C&W Communications Cable & Wireless Communications Plc (CWC) is a full service communications and entertainment provider, operating in the Caribbean and Latin America. With annual sales of over $2.4bn, it operates both mobile and fixed networks, supported by submarine and terrestrial optical fibre backhaul capacity. Through the acquisition of Columbus International Inc. on 31 March 2015, CWC now delivers superior high-speed mobile data, broadband and video services. It has leading market positions in Mobile, Fixed Line, Broadband and Video consumer offers. Through its business division, CWC provides data centre hosting, domestic and international managed network services, and customised IT service solutions, utilising cloud technology to serve business and government customers. The company also operates a state-of-the-art subsea fibre optic cable network that spans more than 42,000 km -- the most extensive in the region -- as well as 38,000 km of terrestrial fibre providing wholesale and carrier backhaul capacity. CWC has more than 7,200 employees serving over 6.3 million customers (Mobile 4.1m; Fixed Line 1.1m; Video 465k and Broadband 680k) as well as over 125k corporate clients across 42 countries. The Company's leading brands include; LIME and Flow in the Caribbean; BTC in The Bahamas; Mas Movil in Panama; C&W Business and C&W Networks. CWC is the market leader in most products offered and territories served. It is a major contributor to local communities through its corporate social responsibility programmes. Cable & Wireless Communications' shares are quoted on the London Stock Exchange under the ticker CWC. The company is headquartered in London with its operational hub located in Miami, within close proximity to the Caribbean and Latin America. For more information visit: www.cwc.com . About CWP Cable & Wireless Panama (CWP) is the market leader in mobile, broadband and fixed line services in Panama. The Company's mobile business operates under the brand name +Movil and the other businesses under + internet and +TV Digital in Panama. CWP is also a leading regional player in enterprise and managed services as well as being a leader in carrier services in partnership with our Caribbean business. View comments || Cable & Wireless Communications and Huawei Have Successfully Tested the First Trial of the Fastest Copper Based Broadband Service With G.fast Across Latin America: MIAMI, FL--(Marketwired - Jan 6, 2016) -Cable & Wireless CommunicationsPlc's (CWC) business unit in Panama,Cable & Wireless PanamaSA (CWP) andHuawei, a leading global information and communications technology (ICT) solutions provider, today announced the first successful trial of the fastest copper based broadband service across Latin America using leading G.fast technology.
As a market leader in mobile and broadband services in Panama, CWP is also the largest telecom service provider in the country with a market leading brand, superior network coverage and excellent customer service. CWP partnered with Huawei to deploy CWC's first trial of the G.fast technology on its existing copper infrastructure.
"We are excited to be partnering with Cable & Wireless Communications and together pioneering the first trial of the fastest copper fixed line broadband service with G.fast across Latin America," said Mr. Stephen Ma, CEO of Huawei for the Caribbean. "G.fast is the right way to extend the existing fixed line infrastructure to the gigabit access era by accelerating a future oriented ultra-broadband solution with unparalleled user experiences," he added.
The G.fast technology trial ran for two months in Panama deploying Huawei's latest multi-service access node equipment. CWP's trial successfully achieved high speeds averaging 500 Mbps to download and 150 Mbps to upload, over its existing copper fixed lines.
"We are thrilled to announce that Cable & Wireless Panama was the first market across Latin America to have successfully completed testing of the G.fast technology, which can deliver high speeds, to its customers through the fastest copper based fixed line broadband technology across the region reaching speeds of 500 Mbps," said Carlo Alloni, EVP Technology and Group CTIO, Cable & Wireless Communications. "Our strategic partnership with Huawei has strengthened our commitment to consider solutions that deliver high-speeds," added Alloni.
G.fast technology is based on the Time Division Multiplexing (TDM) method with an improved algorithm that cancels the noise in the lines, reducing the effects of crosstalk and allowing transmission of higher rates of bits with a better quality, increasing the speeds of the information transmitted.
Huawei's G.fast solution can complement the other technologies selected for its HFC (Hybrid fiber-coaxial) and Fibre delivery platforms. CWP's G.fast technology is providing a fivefold increase in speeds compared to any existing internet copper residential service in Panama and empowering the fastest copper fixed line broadband service across Latin America.
About HuaweiHuawei is a leading global information and communications technology (ICT) solutions provider. Driven by customer-centric innovation and open partnerships, Huawei has established an end-to-end ICT solutions portfolio that gives customers competitive advantages in telecom and enterprise networks, devices and cloud computing. Its innovative ICT solutions, products and services are used in more than 170 countries and regions, serving over one-third of the world's population. Founded in 1987, Huawei is a private company fully owned by its employees.
About G.fastG.fast is a digital subscriber line (DSL) standard for local loops, with performance targets between 150 Mbps and 1 Gbps, depending on loop length. Since the launch of the world's first G.FAST prototype by Huawei in December 2011, G.FAST technology has become highly anticipated by the ICT industry and has maintained strong development momentum.
About C&W CommunicationsCable & Wireless Communications Plc (CWC) is a full service communications and entertainment provider, operating in the Caribbean and Latin America. With annual sales of over $2.4bn, it operates both mobile and fixed networks, supported by submarine and terrestrial optical fibre backhaul capacity. Through the acquisition of Columbus International Inc. on 31 March 2015, CWC now delivers superior high-speed mobile data, broadband and video services. It has leading market positions in Mobile, Fixed Line, Broadband and Video consumer offers.
Through its business division, CWC provides data centre hosting, domestic and international managed network services, and customised IT service solutions, utilising cloud technology to serve business and government customers.
The company also operates a state-of-the-art subsea fibre optic cable network that spans more than 42,000 km -- the most extensive in the region -- as well as 38,000 km of terrestrial fibre providing wholesale and carrier backhaul capacity.
CWC has more than 7,200 employees serving over 6.3 million customers (Mobile 4.1m; Fixed Line 1.1m; Video 465k and Broadband 680k) as well as over 125k corporate clients across 42 countries. The Company's leading brands include; LIME and Flow in the Caribbean; BTC in The Bahamas; Mas Movil in Panama; C&W Business and C&W Networks. CWC is the market leader in most products offered and territories served. It is a major contributor to local communities through its corporate social responsibility programmes.
Cable & Wireless Communications' shares are quoted on the London Stock Exchange under the ticker CWC. The company is headquartered in London with its operational hub located in Miami, within close proximity to the Caribbean and Latin America.
For more information visit:www.cwc.com.
About CWPCable & Wireless Panama (CWP) is the market leader in mobile, broadband and fixed line services in Panama. The Company's mobile business operates under the brand name +Movil and the other businesses under + internet and +TV Digital in Panama. CWP is also a leading regional player in enterprise and managed services as well as being a leader in carrier services in partnership with our Caribbean business. || Mike Tyson Dives Deeper Into Bitcoin: Former boxing star Mike Tyson is deepening his interest in the bitcoin space by creating a digital bitcoin wallet that will allow users to store, purchase and sell the cryptocurrency. The wallet was developed by Bitcoin Direct in partnership with BitPay and will be one of the first wallets that allows users to buy and sell from inside the app.
Tyson's Bitcoin Projects
This is not Tyson's first foray into the bitcoin space. He partnered with Bitcoin Direct last year to launch a line of bitcoin ATMs that gave people the ability to turn cash into bitcoins at any machine's location. Now, with Tyson endorsing a wallet as well, many are wondering whether or not celebrity attention will drive mainstream usage.
The new wallet will feature Tyson's tribal face tattoo as the background image and is available for download on iOS. An Android version is expected to be released in the coming weeks.
Celebrity Appeal
Bitcoin Direct believes that Tyson's popularity around the world and across several generations makes him a good option to engage the masses,saying that his"potential to expand the Bitcoin market is dramatic." However, it remains unknown whether or not the power of celebrity will be enough to encourage new users.
Safety Still A Concern
Although celebrity endorsements often get products more notoriety, bitcoin itself has struggled with safety and security issues that some believe can't be overcome by a recognizable face. Tyson may bring more attention to the cryptocurrency community, but he may not be able to convince the public that it is trustworthy. Instead, many believe that more regulation is the real key to taking bitcoin mainstream as that would provide users with more protections.
Image credit:Eduardo Merille, Flickr
See more from Benzinga
• Court Case Means Emissions Scandal Isn't Going Away For Volkswagen
• What To Make Of Monday's Market Selloff
• General Motors Kicks Off The Year With A Bang
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Mike Tyson Dives Deeper Into Bitcoin: Former boxing star Mike Tyson is deepening his interest in the bitcoin space by creating a digital bitcoin wallet that will allow users to store, purchase and sell the cryptocurrency. The wallet was developed by Bitcoin Direct in partnership with BitPay and will be one of the first wallets that allows users to buy and sell from inside the app.
Tyson's Bitcoin Projects
This is not Tyson's first foray into the bitcoin space. He partnered with Bitcoin Direct last year to launch a line of bitcoin ATMs that gave people the ability to turn cash into bitcoins at any machine's location. Now, with Tyson endorsing a wallet as well, many are wondering whether or not celebrity attention will drive mainstream usage.
The new wallet will feature Tyson's tribal face tattoo as the background image and is available for download on iOS. An Android version is expected to be released in the coming weeks.
Celebrity Appeal
Bitcoin Direct believes that Tyson's popularity around the world and across several generations makes him a good option to engage the masses,saying that his"potential to expand the Bitcoin market is dramatic." However, it remains unknown whether or not the power of celebrity will be enough to encourage new users.
Safety Still A Concern
Although celebrity endorsements often get products more notoriety, bitcoin itself has struggled with safety and security issues that some believe can't be overcome by a recognizable face. Tyson may bring more attention to the cryptocurrency community, but he may not be able to convince the public that it is trustworthy. Instead, many believe that more regulation is the real key to taking bitcoin mainstream as that would provide users with more protections.
Image credit:Eduardo Merille, Flickr
See more from Benzinga
• Court Case Means Emissions Scandal Isn't Going Away For Volkswagen
• What To Make Of Monday's Market Selloff
• General Motors Kicks Off The Year With A Bang
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Mike Tyson Dives Deeper Into Bitcoin: Former boxing star Mike Tyson is deepening his interest in the bitcoin space by creating a digital bitcoin wallet that will allow users to store, purchase and sell the cryptocurrency. The wallet was developed by Bitcoin Direct in partnership with BitPay and will be one of the first wallets that allows users to buy and sell from inside the app. Tyson's Bitcoin Projects This is not Tyson's first foray into the bitcoin space. He partnered with Bitcoin Direct last year to launch a line of bitcoin ATMs that gave people the ability to turn cash into bitcoins at any machine's location. Now, with Tyson endorsing a wallet as well, many are wondering whether or not celebrity attention will drive mainstream usage. The new wallet will feature Tyson's tribal face tattoo as the background image and is available for download on iOS. An Android version is expected to be released in the coming weeks. Celebrity Appeal Bitcoin Direct believes that Tyson's popularity around the world and across several generations makes him a good option to engage the masses, saying that his "potential to expand the Bitcoin market is dramatic." However, it remains unknown whether or not the power of celebrity will be enough to encourage new users. Safety Still A Concern Although celebrity endorsements often get products more notoriety, bitcoin itself has struggled with safety and security issues that some believe can't be overcome by a recognizable face. Tyson may bring more attention to the cryptocurrency community, but he may not be able to convince the public that it is trustworthy. Instead, many believe that more regulation is the real key to taking bitcoin mainstream as that would provide users with more protections. Image credit: Eduardo Merille , Flickr See more from Benzinga Court Case Means Emissions Scandal Isn't Going Away For Volkswagen What To Make Of Monday's Market Selloff General Motors Kicks Off The Year With A Bang © 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Investors Set Sail With Cruise-Line Investments In 2016: 2015 proved to be a lucrative year for many cruise liners, as an improving economy and low fuel prices created the perfect conditions for a rebuilding year.
Industry juggernautCarnival Corp(NYSE:CCL) saw its shares rise 19.43 percent over the course of the year, andBarron'ssees the firm climbing another 20 percent this year, a sign that the industry can expect smooth waters ahead.
Safety In The Water
Carnival Corp has been touted as one of the safest plays in the cruise industry, because the company is the largest operator in the world. Carnival has ships in almost every body of water on the planet, operating popular names like Carnival Cruise Lines, Princess Cruises and Costa Cruises. Not only does the company have a massive brand appeal and staying power, but Carnival also pays out the heftiest dividend with a yield of 2.2 percent.
Related Link:Barron's Picks And Pans: Carnival, Pandora, American Capital And More
Expanding Into China
Another reason the cruise industry is set to continue gaining through 2016 is the potential for expansion in China as cruise holidays gain popularity. For investors looking to play this angle,Royal Caribbean Cruises Ltd(NYSE:RCL) orNorwegian Cruise Line Holdings Ltd(NASDAQ:NCLH) could be smart plays.
Royal Caribbean has proven to be popular among the Chinese population and has been pushing upscale ships with luxury rooms that have brought in a great deal of interest. Norwegian is a relatively new entrant into the Chinese market, but the firm has been able to learn from its peers who have already penetrated the market and by offering customers a tailored experience different from what European or North American customers prefer.
Image Credit: Public Domain
See more from Benzinga
• 4 CEOs With A Tough Year Ahead
• Ledger Fights For Bitcoin's Staying Power At CES 2016
• Virtual Reality In 2016
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Investors Set Sail With Cruise-Line Investments In 2016: 2015 proved to be a lucrative year for many cruise liners, as an improving economy and low fuel prices created the perfect conditions for a rebuilding year. Industry juggernaut Carnival Corp (NYSE: CCL ) saw its shares rise 19.43 percent over the course of the year, and Barron's sees the firm climbing another 20 percent this year, a sign that the industry can expect smooth waters ahead. Safety In The Water Carnival Corp has been touted as one of the safest plays in the cruise industry, because the company is the largest operator in the world. Carnival has ships in almost every body of water on the planet, operating popular names like Carnival Cruise Lines, Princess Cruises and Costa Cruises. Not only does the company have a massive brand appeal and staying power, but Carnival also pays out the heftiest dividend with a yield of 2.2 percent. Related Link: Barron's Picks And Pans: Carnival, Pandora, American Capital And More Expanding Into China Another reason the cruise industry is set to continue gaining through 2016 is the potential for expansion in China as cruise holidays gain popularity. For investors looking to play this angle, Royal Caribbean Cruises Ltd (NYSE: RCL ) or Norwegian Cruise Line Holdings Ltd (NASDAQ: NCLH ) could be smart plays. Royal Caribbean has proven to be popular among the Chinese population and has been pushing upscale ships with luxury rooms that have brought in a great deal of interest. Norwegian is a relatively new entrant into the Chinese market, but the firm has been able to learn from its peers who have already penetrated the market and by offering customers a tailored experience different from what European or North American customers prefer. Image Credit: Public Domain See more from Benzinga 4 CEOs With A Tough Year Ahead Ledger Fights For Bitcoin's Staying Power At CES 2016 Virtual Reality In 2016 © 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Ledger Fights For Bitcoin's Staying Power At CES 2016: The Consumer Electronics Show in Las Vegas is a chance for electronics and technology firms to debut their latest offerings and future prospects. Everything from self-driving cars to mind-blowing virtual reality sets have made their debut at CES, and each year the show tends to set the tone for what kind of tech will be big in the coming year. This year, bitcoin startup Ledger is keeping the cryptocurrency in the spotlight by hosting the only bitcoin startup booth at the event. Physical Bitcoin Storage Ledger created a hardware wallet product in 2015 that provides customers with a safe and secure way to store and use their bitcoins. Ledger takes some of the worry out of using bitcoin by giving users a physical way to store bitcoins – a lightweight smart card. They can then use a USB to make secure payments, and the company offers a simple backup system that provides users with a microchip and pin code encrypted system in case they lose their card. Related Link: Can The Bitcoin Foundation Last? This year, Ledger is planning to exhibit new offerings at CES including a new technology that will strengthen the security of online authentication by reducing the reliance on passwords. Bitcoin's Year Ledger's presence at CES suggests that although bitcoin had a rough year in 2015, the cryptocurrency isn't dead yet. Concerns about privacy and security have increased skepticism about cryptocurrencies, making it difficult for bitcoin firms to push mainstream approval. However, many believe that as security improves and more and more vendors open up to the possibility of bitcoin transactions, the public will get on board. Image Credit: Public Domain See more from Benzinga Virtual Reality In 2016 Is Tesla A Good Investment For 2016? 3 CEOs Who Made Headlines In 2015 © 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Ledger Fights For Bitcoin's Staying Power At CES 2016: The Consumer Electronics Show in Las Vegas is a chance for electronics and technology firms to debut their latest offerings and future prospects. Everything from self-driving cars to mind-blowing virtual reality sets have made their debut at CES, and each year the show tends to set the tone for what kind of tech will be big in the coming year.
This year, bitcoin startupLedgeris keeping the cryptocurrency in the spotlight by hosting the only bitcoin startup booth at the event.
Physical Bitcoin Storage
Ledger created a hardware wallet product in 2015 that provides customers with a safe and secure way to store and use their bitcoins. Ledger takes some of the worry out of using bitcoin by giving users a physical way to store bitcoins – a lightweight smart card. They can then use a USB to make secure payments, and the company offers a simple backup system that provides users with a microchip and pin code encrypted system in case they lose their card.
Related Link:Can The Bitcoin Foundation Last?
This year, Ledger is planning to exhibit new offerings at CES including a new technology that will strengthen the security of online authentication by reducing the reliance on passwords.
Bitcoin's Year
Ledger's presence at CES suggests that although bitcoin had a rough year in 2015, the cryptocurrency isn't dead yet. Concerns about privacy and security have increased skepticism about cryptocurrencies, making it difficult for bitcoin firms to push mainstream approval. However, many believe that as security improves and more and more vendors open up to the possibility of bitcoin transactions, the public will get on board.
Image Credit: Public Domain
See more from Benzinga
• Virtual Reality In 2016
• Is Tesla A Good Investment For 2016?
• 3 CEOs Who Made Headlines In 2015
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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Bitstamp: $444.54/BTC - last trade of USD/BTC at https://www.bitstamp.net/ (high: 451.13, low: 438.00) #bitcoin #BTC http://bitcoinautotrade.com || In the last 10 mins, there were arb opps spanning 12 exchange pair(s), yielding profits ranging between $0.00 and $766.05 #bitcoin #btc || LIVE: Profit = $782.72 (9.32 %). BUY B20.40 @ $420.00 (#VirCurex). SELL @ $450.44 (#Bitfinex) #bitcoin #btc - http://www.projectcoin.org || One Bitcoin now worth $446.01@bitstamp. High $451.13. Low $438.00. Mar...
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435.69, 432.37, 430.31, 364.33, 387.54, 382.30, 387.17, 380.15, 420.23, 410.26
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Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 10353.30, 10517.25, 10441.28, 10334.97, 10115.98, 10178.37, 10410.13, 10360.55, 10358.05, 10347.71, 10276.79, 10241.27, 10198.25, 10266.42, 10181.64, 10019.72, 10070.39, 9729.32, 8620.57, 8486.99, 8118.97, 8251.85, 8245.92, 8104.19, 8293.87, 8343.28, 8393.04, 8259.99, 8205.94, 8151.50, 7988.16, 8245.62, 8228.78, 8595.74, 8586.47, 8321.76, 8336.56, 8321.01, 8374.69, 8205.37, 8047.53, 8103.91, 7973.21, 7988.56, 8222.08, 8243.72, 8078.20, 7514.67, 7493.49, 8660.70, 9244.97, 9551.71, 9256.15, 9427.69, 9205.73, 9199.58, 9261.10, 9324.72, 9235.35, 9412.61, 9342.53, 9360.88, 9267.56, 8804.88, 8813.58, 9055.53, 8757.79, 8815.66, 8808.26, 8708.09, 8491.99, 8550.76, 8577.98, 8309.29, 8206.15, 8027.27, 7642.75, 7296.58, 7397.80, 7047.92, 7146.13, 7218.37, 7531.66, 7463.11, 7761.24, 7569.63, 7424.29, 7321.99, 7320.15, 7252.03.
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[Bitcoin Technical Analysis for 2019-12-04]
Volume: 21664240918, RSI (14-day): 35.52, 50-day EMA: 8204.13, 200-day EMA: 8532.06
[Wider Market Context]
Gold Price: 1474.00, Gold RSI: 50.71
Oil Price: 58.43, Oil RSI: 57.04
[Recent News (last 7 days)]
Bitcoin is boring now: Man in orange jacket asleep on a bench. Bitcoin is in a funk. For the last two months, the leading cryptocurrency has remained within a narrow band, fluctuating between $7,000 and $9,000. On occasion, it has creeped higher or lower, but never for long. Compared to its stunning rise two years ago, when bitcoins price vaulted to $20,000, the crypto market now looks sleepy. The highs arent as high, and the lows arent as low. The booms and busts have become less frequent, too. Trump is trying to make it too expensive for poor American immigrants to stay The overall crypto markets have a tendency to be event-driven, and in the past few months there hasnt been news to send prices moving meaningfully, Andy Bromberg , president of CoinList, a startup that enables crypto-based fundraising , surmised to Quartz. In October, his company raised $10 million to continue its service. For his part, Bromberg thinks the market is entering a new phase. Whats interesting is that bitcoin is becoming less correlated with the rest of the [crypto] market, an indicator of how its narrative, value, and popularity are emerging even more strongly, he said. Because of bitcoins decreasing correlation, theres a reasonable chance that the next time the market moves, it will be either bitcoin or the rest of the market, not both. People with depression are more likely to say certain words But even now, thats as good as the predictions get. For mainstream investors, thats not much to go on. All thats clear is this: Bitcoin has gotten relatively boring. Earlier this year, between January and March, bitcoins price also stalled. For almost three months, it floundered in the mid-$3,000s. A mid-year revival finally occurred after Facebook revealed plans for Libra , its own digital currency. The project, however, appears unlikely to launch on schedule . Bitcoins highs and lows Year Max price Minimum Difference 2016 $979 $355 $624 2017 $20,089 $756 $19,333 2018 $17,712 $3,191 $14,521 2019 $13,796 $3,391 $10,405 So, where does that leave us? In a year when the S&P 500 has delivered a 20% year-to-date return, bitcoin has rewarded speculators with a 90% return. This year hasnt been a mania , but it hasnt been a crypto winter , or stagnation, either. Instead, 2019 has been unpredictable in its own wayand at times, its been surprisingly stable. Of course, stable is relativebitcoin is still far more volatile than the average stock. Story continues Calling this a rejuvenation would be too ebullient, but the bitcoin market has exhibited signs of life once again. If anything, 2019 has shown that bitcoin is neither savior nor destroyer of money. As other crypto projects have stumbled , bitcoin has simply persisted. Maybe thats good enough. Sign up for the Quartz Daily Brief , our free daily newsletter with the worlds most important and interesting news. More stories from Quartz: Psychology suggests that when someone calls you the wrong name, its because they love you Justices stumped in SCOTUS tax refund case with massive economic significance || Bitcoin is boring now: Man in orange jacket asleep on a bench. Bitcoin is in a funk. For the last two months, the leading cryptocurrency has remained within a narrow band, fluctuating between $7,000 and $9,000. On occasion, it has creeped higher or lower, but never for long. Compared to its stunning rise two years ago, when bitcoins price vaulted to $20,000, the crypto market now looks sleepy. The highs arent as high, and the lows arent as low. The booms and busts have become less frequent, too. Trump is trying to make it too expensive for poor American immigrants to stay The overall crypto markets have a tendency to be event-driven, and in the past few months there hasnt been news to send prices moving meaningfully, Andy Bromberg , president of CoinList, a startup that enables crypto-based fundraising , surmised to Quartz. In October, his company raised $10 million to continue its service. For his part, Bromberg thinks the market is entering a new phase. Whats interesting is that bitcoin is becoming less correlated with the rest of the [crypto] market, an indicator of how its narrative, value, and popularity are emerging even more strongly, he said. Because of bitcoins decreasing correlation, theres a reasonable chance that the next time the market moves, it will be either bitcoin or the rest of the market, not both. People with depression are more likely to say certain words But even now, thats as good as the predictions get. For mainstream investors, thats not much to go on. All thats clear is this: Bitcoin has gotten relatively boring. Earlier this year, between January and March, bitcoins price also stalled. For almost three months, it floundered in the mid-$3,000s. A mid-year revival finally occurred after Facebook revealed plans for Libra , its own digital currency. The project, however, appears unlikely to launch on schedule . Bitcoins highs and lows Year Max price Minimum Difference 2016 $979 $355 $624 2017 $20,089 $756 $19,333 2018 $17,712 $3,191 $14,521 2019 $13,796 $3,391 $10,405 So, where does that leave us? In a year when the S&P 500 has delivered a 20% year-to-date return, bitcoin has rewarded speculators with a 90% return. This year hasnt been a mania , but it hasnt been a crypto winter , or stagnation, either. Instead, 2019 has been unpredictable in its own wayand at times, its been surprisingly stable. Of course, stable is relativebitcoin is still far more volatile than the average stock. Story continues Calling this a rejuvenation would be too ebullient, but the bitcoin market has exhibited signs of life once again. If anything, 2019 has shown that bitcoin is neither savior nor destroyer of money. As other crypto projects have stumbled , bitcoin has simply persisted. Maybe thats good enough. Sign up for the Quartz Daily Brief , our free daily newsletter with the worlds most important and interesting news. More stories from Quartz: Psychology suggests that when someone calls you the wrong name, its because they love you Justices stumped in SCOTUS tax refund case with massive economic significance || Bitcoin is boring now: Man in orange jacket asleep on a bench. Bitcoin is in a funk. For the last two months, the leading cryptocurrency has remained within a narrow band, fluctuating between $7,000 and $9,000. On occasion, it has creeped higher or lower, but never for long. Compared to its stunning rise two years ago, when bitcoins price vaulted to $20,000, the crypto market now looks sleepy. The highs arent as high, and the lows arent as low. The booms and busts have become less frequent, too. Trump is trying to make it too expensive for poor American immigrants to stay The overall crypto markets have a tendency to be event-driven, and in the past few months there hasnt been news to send prices moving meaningfully, Andy Bromberg , president of CoinList, a startup that enables crypto-based fundraising , surmised to Quartz. In October, his company raised $10 million to continue its service. For his part, Bromberg thinks the market is entering a new phase. Whats interesting is that bitcoin is becoming less correlated with the rest of the [crypto] market, an indicator of how its narrative, value, and popularity are emerging even more strongly, he said. Because of bitcoins decreasing correlation, theres a reasonable chance that the next time the market moves, it will be either bitcoin or the rest of the market, not both. People with depression are more likely to say certain words But even now, thats as good as the predictions get. For mainstream investors, thats not much to go on. All thats clear is this: Bitcoin has gotten relatively boring. Earlier this year, between January and March, bitcoins price also stalled. For almost three months, it floundered in the mid-$3,000s. A mid-year revival finally occurred after Facebook revealed plans for Libra , its own digital currency. The project, however, appears unlikely to launch on schedule . Bitcoins highs and lows Year Max price Minimum Difference 2016 $979 $355 $624 2017 $20,089 $756 $19,333 2018 $17,712 $3,191 $14,521 2019 $13,796 $3,391 $10,405 So, where does that leave us? In a year when the S&P 500 has delivered a 20% year-to-date return, bitcoin has rewarded speculators with a 90% return. This year hasnt been a mania , but it hasnt been a crypto winter , or stagnation, either. Instead, 2019 has been unpredictable in its own wayand at times, its been surprisingly stable. Of course, stable is relativebitcoin is still far more volatile than the average stock. Story continues Calling this a rejuvenation would be too ebullient, but the bitcoin market has exhibited signs of life once again. If anything, 2019 has shown that bitcoin is neither savior nor destroyer of money. As other crypto projects have stumbled , bitcoin has simply persisted. Maybe thats good enough. Sign up for the Quartz Daily Brief , our free daily newsletter with the worlds most important and interesting news. More stories from Quartz: Psychology suggests that when someone calls you the wrong name, its because they love you Justices stumped in SCOTUS tax refund case with massive economic significance || WisdomTree launches new Bitcoin exchange-traded product: Exchange-traded fund (ETF) pioneer WisdomTree Europe has announced that it will be launching a physically-backed Bitcoin exchange-traded product (ETP) as appetite grows for digital assets. The fund, which will allow investors to speculate on Bitcoin without having to go through the onerous process of buying the underlying digital asset themselves, has been launched to provide easier access for institutional investors. According to a press release published earlier today, the fund entitles each investor to a certain amount of Bitcoin, with a share entitlement relative to their investment in the fund. This is similar to gold ETPs where funds are held in secure custody rather than held by individual investors. WisdomTree has announced that it will be working with a Bitcoin custody provider to secure the digital asset collateral, although the group hasnt disclosed who this will be. WisdomTrees fund will be traded on the regulated Swiss stock exchange, with shares in the fund being settled via a traditional settlement system. Bullish sentiment amid bearish lows The news comes at a time when Bitcoin has experienced a dramatic slump, moving towards new yearly lows . Despite this, Alexis Marinof, WisdomTrees Europe head, is still apparently bullish on digital assets, commenting: We have seen enough to believe that digital assets, like Bitcoin, are not a passing trend and can play a role in portfolios. Marinof also commented that institutional investors would be able to access the cryptocurrency markets more easily through a physical ETF. Adding to this bullish sentiment are comments from WisdomTrees CEO, Jonathan Steinberg, who shared: WisdomTree has always been at the forefront of innovation, and we see blockchain technology and digital currencies as being transformative for the asset management industry. Blockchain and cryptocurrencies have the potential to change how investors participate in financial markets, globally. Story continues Earlier this year , the London Stock Exchange (LSE) listed a cryptocurrency ETF from Invesco and Elwood Asset Management, which indexed 48 cryptocurrencies and tracked their performance through one fund. However, physically-backed Bitcoin ETFs are still struggling to gain regulatory recognition in the USA, where the SEC has rejected the Bitwise and Winklevoss ETF proposals several times. The post WisdomTree launches new Bitcoin exchange-traded product appeared first on Coin Rivet . || WisdomTree launches new Bitcoin exchange-traded product: Exchange-traded fund (ETF) pioneer WisdomTree Europe has announced that it will be launching a physically-backed Bitcoin exchange-traded product (ETP) as appetite grows for digital assets. The fund, which will allow investors to speculate on Bitcoin without having to go through the onerous process of buying the underlying digital asset themselves, has been launched to provide easier access for institutional investors. According to a press release published earlier today, the fund entitles each investor to a certain amount of Bitcoin, with a share entitlement relative to their investment in the fund. This is similar to gold ETPs where funds are held in secure custody rather than held by individual investors. WisdomTree has announced that it will be working with a Bitcoin custody provider to secure the digital asset collateral, although the group hasnt disclosed who this will be. WisdomTrees fund will be traded on the regulated Swiss stock exchange, with shares in the fund being settled via a traditional settlement system. Bullish sentiment amid bearish lows The news comes at a time when Bitcoin has experienced a dramatic slump, moving towards new yearly lows . Despite this, Alexis Marinof, WisdomTrees Europe head, is still apparently bullish on digital assets, commenting: We have seen enough to believe that digital assets, like Bitcoin, are not a passing trend and can play a role in portfolios. Marinof also commented that institutional investors would be able to access the cryptocurrency markets more easily through a physical ETF. Adding to this bullish sentiment are comments from WisdomTrees CEO, Jonathan Steinberg, who shared: WisdomTree has always been at the forefront of innovation, and we see blockchain technology and digital currencies as being transformative for the asset management industry. Blockchain and cryptocurrencies have the potential to change how investors participate in financial markets, globally. Story continues Earlier this year , the London Stock Exchange (LSE) listed a cryptocurrency ETF from Invesco and Elwood Asset Management, which indexed 48 cryptocurrencies and tracked their performance through one fund. However, physically-backed Bitcoin ETFs are still struggling to gain regulatory recognition in the USA, where the SEC has rejected the Bitwise and Winklevoss ETF proposals several times. The post WisdomTree launches new Bitcoin exchange-traded product appeared first on Coin Rivet . || WisdomTree launches new Bitcoin exchange-traded product: Exchange-traded fund (ETF) pioneer WisdomTree Europe has announced that it will be launching a physically-backed Bitcoin exchange-traded product (ETP) as appetite grows for digital assets. The fund, which will allow investors to speculate on Bitcoin without having to go through the onerous process of buying the underlying digital asset themselves, has been launched to provide easier access for institutional investors. According to a press release published earlier today, the fund entitles each investor to a certain amount of Bitcoin, with a share entitlement relative to their investment in the fund. This is similar to gold ETPs where funds are held in secure custody rather than held by individual investors. WisdomTree has announced that it will be working with a Bitcoin custody provider to secure the digital asset collateral, although the group hasnt disclosed who this will be. WisdomTrees fund will be traded on the regulated Swiss stock exchange, with shares in the fund being settled via a traditional settlement system. Bullish sentiment amid bearish lows The news comes at a time when Bitcoin has experienced a dramatic slump, moving towards new yearly lows . Despite this, Alexis Marinof, WisdomTrees Europe head, is still apparently bullish on digital assets, commenting: We have seen enough to believe that digital assets, like Bitcoin, are not a passing trend and can play a role in portfolios. Marinof also commented that institutional investors would be able to access the cryptocurrency markets more easily through a physical ETF. Adding to this bullish sentiment are comments from WisdomTrees CEO, Jonathan Steinberg, who shared: WisdomTree has always been at the forefront of innovation, and we see blockchain technology and digital currencies as being transformative for the asset management industry. Blockchain and cryptocurrencies have the potential to change how investors participate in financial markets, globally. Story continues Earlier this year , the London Stock Exchange (LSE) listed a cryptocurrency ETF from Invesco and Elwood Asset Management, which indexed 48 cryptocurrencies and tracked their performance through one fund. However, physically-backed Bitcoin ETFs are still struggling to gain regulatory recognition in the USA, where the SEC has rejected the Bitwise and Winklevoss ETF proposals several times. The post WisdomTree launches new Bitcoin exchange-traded product appeared first on Coin Rivet . || Global Android Vulnerability Could Grab Wallet and Banking Data: A newly-discovered vulnerability, calledStrandHogg, could allow hackers access to private data on almost any Android phone and has already been used to access banking information. Documented by security firmPromon, the exploit affects all versions of Android.
The StrandHogg exploit isn’t particularly new – security researchers have known about aproof-of-conceptversion since 2015. A working, and potentially dangerous, version of the exploit only recently appeared in the wild hidden inside malware that has been propagating across the internet for the past year. Promon created aninformational pagefor the exploit after discovering how widespread and dangerous it could be.
The exploit interrupts the flow of an app from launch to welcome screen and forces a user to give a piece of malware powerful permissions before letting the legitimate app run.
Related:BitGo Says It’s Now Processing 20% of Bitcoin Transactions
“Our researchers focused on describing the vulnerability, as such, but we also collaborated with Lookout Security who contributed some parts by scanning their datasets of malware. They found 36 malicious apps that exploit the flaw,” said Lars Lunde Birkeland, Promon’s Marketing & Communication Director.
“We tested the top 500 most popular apps and all of them are vulnerable,” he said.
All versions of Android, including Android 10, are affected and even patched, seemingly secure phones are allegedly vulnerable according to Promon.
The exploit works by highjacking a legitimate app as it’s launched on almost any Android phone. Instead of going to the welcome screen or login page, the exploit allows a piece of malware to display so-called permissions pop-ups, the kind that asks if the app can access your contacts, location, and stored data. When you approve the request, the malware is given all of the permissions instead of the legitimate app, which continues to run as if nothing happened.
Related:Binance’s DEX Now Supports AML Compliance Via CipherTrace
“The victim clicks on the legit app but instead of being directed to the legit app the malware tricks the device to show a permission pop-up. The victim gives the malware and the attacker the permissions and then you’re redirected to the legit app,” said Birkeland.
The researchers found that a Trojan program calledBankBotused the exploit to give itself powerful permissions that could intercept SMS messages, log keypresses, forward calls, and even lock a phone until you pay a ransom, a concern for anyone running banking, financial, or wallet apps on their phone.
“It’s a well-known banking Trojan and is seen in every country in the world,” said Birkeland.
The exploit can also show a fake login page for some apps on some Android phones but the permissions exploit is far more common.
“The vulnerability is quite serious. You, as an attacker, are able to carry out quite powerful attacks,” said Birkeland.
Promon discovered the malware when “several banks in the Czech Republic had reported money disappearing from customer accounts,” wrote the researchers.
“From here, through its research, Promon was able to identify the malware was being used to exploit a dangerous Android vulnerability. Lookout, a partner of Promon, also confirmed that they have identified 36 malicious apps exploiting the vulnerability. Among them were variants of the BankBot banking trojan observed as early as 2017,” they wrote.
“While Google has removed the affected apps, to the best of our knowledge, the vulnerability has not yet been fixed for any version of Android (incl. Android 10),” wrote the researchers.
Why is it called Strandhogg? That has to do with the company’s Swedish roots.
“The vulnerability has been named by Promon as ‘StrandHogg’, old Norse for the Viking tactic of raiding coastal areas to plunder and hold people for ransom,” wrote the researchers.
In a statement, a Google spokesperson said: “We appreciate the researchers’ work, and have suspended the potentially harmful apps they identified. Google Play Protect detects and blocks malicious apps, including ones using this technique. Additionally, we’re continuing to investigate in order to improve Google Play Protect’s ability to protect users against similar issues.”
• There’s a New Way to Get Your Stolen Crypto Back
• AT&T Responds to Crypto Exec’s SIM Swap Suit: See You in Court || Online Lender SoFi Gets NY BitLicense, Clearing Way to Offer Crypto Trading: Student loan and financial services provider SoFi has secured a New York virtual currency license, the state’s financial regulator announced Tuesday. The New York Department of Financial Services said in a press release that it approved SoFi Digital Assets, a wholly owned subsidiary of SoFi, granting it a money transmission license as well as the virtual currency license, colloquially termed the BitLicense. SoFi Digital Assets is the 24th company to receive a cryptocurrency approval through NYDFS. Under the licenses, the company will be able to provide buy and sell services for bitcoin, bitcoin cash, ethereum, ethereum classic, litecoin and Stellar lumens to New York residents. Related: New York’s Financial Regulator Is Reviewing the Controversial BitLicense In a statement, SoFi CEO Anthony Noto said the company was “thrilled” to offer crypto trading services, “in addition to active and automated investing, as part of SoFi Invest in New York State,” on top of its other products. “Putting our members’ interests first is our top priority at SoFi,” he said. “That includes both offering individuals the products they want, like cryptocurrency within SoFi Invest, as well as protecting them, through a solid regulatory framework like that created by the New York State Department of Financial Services.” SoFi first indicated it would begin providing cryptocurrency services to customers earlier this year , when it announced it was partnering with Coinbase. At the time, the company did not indicate which cryptocurrencies would be available on its platform. The company began offering crypto trading services in September through its SoFi Invest platform, according to Cheddar . At the time, users were limited to bitcoin, litecoin and ether. Related Stories Online Lender SoFi to Launch Bitcoin and Ethereum Trading Next Week New York Grants Bitlicense to Institutional Crypto Exchange Seed CX Robinhood Opens Trading for 7 Cryptocurrencies in New York || Online Lender SoFi Gets NY BitLicense, Clearing Way to Offer Crypto Trading: Student loan and financial services provider SoFi has secured a New York virtual currency license, the state’s financial regulator announced Tuesday.
The New York Department of Financial Servicessaid in a press releasethat it approved SoFi Digital Assets, a wholly owned subsidiary of SoFi, granting it a money transmission license as well as the virtual currency license, colloquially termed the BitLicense. SoFi Digital Assets is the 24th company to receive a cryptocurrency approval through NYDFS.
Under the licenses, the company will be able to provide buy and sell services for bitcoin, bitcoin cash, ethereum, ethereum classic, litecoin and Stellar lumens to New York residents.
Related:New York’s Financial Regulator Is Reviewing the Controversial BitLicense
In a statement, SoFi CEO Anthony Noto said the company was “thrilled” to offer crypto trading services, “in addition to active and automated investing, as part of SoFi Invest in New York State,” on top of its other products.
“Putting our members’ interests first is our top priority at SoFi,” he said. “That includes both offering individuals the products they want, like cryptocurrency within SoFi Invest, as well as protecting them, through a solid regulatory framework like that created by the New York State Department of Financial Services.”
SoFi first indicated it would begin providing cryptocurrency services to customersearlier this year, when it announced it was partnering with Coinbase. At the time, the company did not indicate which cryptocurrencies would be available on its platform. The company began offering crypto trading services in September through its SoFi Invest platform,according to Cheddar. At the time, users were limited to bitcoin, litecoin and ether.
• Online Lender SoFi to Launch Bitcoin and Ethereum Trading Next Week
• New York Grants Bitlicense to Institutional Crypto Exchange Seed CX
• Robinhood Opens Trading for 7 Cryptocurrencies in New York || China’s Internet Firewall Has Blocked Access to Ethereum Block Explorer Etherscan.io: China’s Great Firewall, used by the government to regulate access to foreign internet sites, has blocked one of the most popular sources of ethereum blockchain data.
As of Tuesday, etherscan.io, one of the longest-running and most widely used ethereum block explorers, was inaccessible from IP addresses inside mainland China, based on tests performed locally.
The change appears to be recent. According toGreatfire.org, which compiles and monitors a database of sites that are blocked inside China, etherscan.io was still accessible with “no censorship detected” as of Aug. 18, 2019.
Related:Global Protests Reveal Bitcoin’s Limitations
But Greatfire.org’s scanning record shows etherscan.io has become 100 percent blocked since at least Oct. 30, rendering it inaccessible from inside China unless via a virtual private network (VPN).
This is likely the first known case of a blockchain explorer becoming an internet firewall target and puts etherscan.io in the company of such blocked information and social media sites as Google, Facebook, Twitter, and Reddit.
“This is another instance of friction between the decentralized and immutable technology of blockchain and the tightly controlled, centralized government of China,” said Matthew Graham, CEO of blockchain investment firm Sino Global Capital. “We should expect additional problems like these in the future as blockchain is integrated further into the Chinese economy and daily life.”
It’s not immediately clear what exactly led to the blocking of a blockchain explorer in China. But last year, there were reports that cryptocurrency users encoded censored articles regarding the#Metoo movementand apharmaceutical scandalin China onto ethereum transactions in a bid to bypass internet censorship.
Related:93 Days Dark: 8chan Coder Explains How Blockchain Saved His Troll Forum
Internet users had been sharing on WeChat the hash of those transactions using etherscan.io, which even prompted WeChat to later block users from viewing the exact etherscan.io URLs from inside the messaging app. Etherscan.io’s site itself remained intact at the time.
“Some have used this feature to post sensitive messages without the need to worry about the message being blocked or removed, or their identity being exposed,” said Graham. “Anyone with a blockchain explorer like Etherscan can view these messages, so it is not surprising that this website has come in the crosshairs of internet censors.”
Matthew Tan, founder and CEO of etherscan, said his firm noticed the block ”within the last 3 months” but was unsure of the exact date. He said he doesn’t know why this occurred and thus “can not speculate on what the reasons might be.”
There is evidence that the blockage may have happened sometime in September and went largely unnoticed.
For instance, MakerDAO, the decentralized finance project, switched from using etherscan.io in a WeChat post in Chinese onSept. 16to using a new etherscan site – cn.etherscan.com – in another post onSept. 30. The new site, which appears identical to etherscan.io, is currently accessible from inside China.
To be clear, a blockchain explorer is merely an online portal that makes it easier for end-users to browse transaction information of a decentralized network. The actual blockchain transactions are not stored in any centralized database and thus can’t be taken down by a single entity regardless of geographic locations.
So far, other ethereum explorers are still accessible from inside mainland China.
• Bitcoin SV’s Delisting Isn’t ‘Censorship.’ But It’s Still a Problem
• Bitcoin’s Lightning Torch Enters Iran as Payment Experiment Blazes On || Chinas Internet Firewall Has Blocked Access to Ethereum Block Explorer Etherscan.io: Chinas Great Firewall, used by the government to regulate access to foreign internet sites, has blocked one of the most popular sources of ethereum blockchain data. As of Tuesday, etherscan.io, one of the longest-running and most widely used ethereum block explorers, was inaccessible from IP addresses inside mainland China, based on tests performed locally. The change appears to be recent. According to Greatfire.org , which compiles and monitors a database of sites that are blocked inside China, etherscan.io was still accessible with no censorship detected as of Aug. 18, 2019. Related: Global Protests Reveal Bitcoins Limitations But Greatfire.orgs scanning record shows etherscan.io has become 100 percent blocked since at least Oct. 30, rendering it inaccessible from inside China unless via a virtual private network (VPN). This is likely the first known case of a blockchain explorer becoming an internet firewall target and puts etherscan.io in the company of such blocked information and social media sites as Google, Facebook, Twitter, and Reddit. This is another instance of friction between the decentralized and immutable technology of blockchain and the tightly controlled, centralized government of China, said Matthew Graham, CEO of blockchain investment firm Sino Global Capital. We should expect additional problems like these in the future as blockchain is integrated further into the Chinese economy and daily life. Reasons unclear Its not immediately clear what exactly led to the blocking of a blockchain explorer in China. But last year, there were reports that cryptocurrency users encoded censored articles regarding the #Metoo movement and a pharmaceutical scandal in China onto ethereum transactions in a bid to bypass internet censorship. Related: 93 Days Dark: 8chan Coder Explains How Blockchain Saved His Troll Forum Internet users had been sharing on WeChat the hash of those transactions using etherscan.io, which even prompted WeChat to later block users from viewing the exact etherscan.io URLs from inside the messaging app. Etherscan.ios site itself remained intact at the time. Story continues Some have used this feature to post sensitive messages without the need to worry about the message being blocked or removed, or their identity being exposed, said Graham. Anyone with a blockchain explorer like Etherscan can view these messages, so it is not surprising that this website has come in the crosshairs of internet censors. Matthew Tan, founder and CEO of etherscan, said his firm noticed the block within the last 3 months but was unsure of the exact date. He said he doesnt know why this occurred and thus can not speculate on what the reasons might be. Substitute site There is evidence that the blockage may have happened sometime in September and went largely unnoticed. For instance, MakerDAO, the decentralized finance project, switched from using etherscan.io in a WeChat post in Chinese on Sept. 16 to using a new etherscan site cn.etherscan.com in another post on Sept. 30 . The new site, which appears identical to etherscan.io, is currently accessible from inside China. To be clear, a blockchain explorer is merely an online portal that makes it easier for end-users to browse transaction information of a decentralized network. The actual blockchain transactions are not stored in any centralized database and thus cant be taken down by a single entity regardless of geographic locations. So far, other ethereum explorers are still accessible from inside mainland China. Related Stories Bitcoin SVs Delisting Isnt Censorship. But Its Still a Problem Bitcoins Lightning Torch Enters Iran as Payment Experiment Blazes On || Zcash Foundation Funds App Mixing Private Messaging and Payments: The Canadian nonprofit Open Privacy is working onCwtch, a zcash-fueled messaging app with more decentralization than Telegram or Signal.
“Cwtch is focused on building a decentralized infrastructure,” said Open Privacy founder Sarah Jamie Lewis. “It can’t be reliant on Visa or Venmo unless we can find a way to remove that metadata.”
The project is still in an early stage of messaging between roughly a dozen node and server operators. Now, thanks to a donation from the Zcash Foundation of roughly $40,000, the nonprofit will hire a designer and continue research on the payment aspects of the system.
Related:What’s Really Private in Crypto? Research on Grin Raises Questions
“Think of it like a prepaid card,” Lewis said. “You would top off at some point using zcash or any other payment methods.”
Lewis said Cwtch (a Welsh word forhugpronounced something like “kutch”) was inspired by market research with sex workers andqueer communitiesthat experienced censorship and malicious surveillance. As such, Open Privacy is looking into multiple options, including bitcoin, diverse on-ramps and liquidity.
“There are ways to minimize some of those issues and get around them,” she said in reference to bitcoin’s public ledger and lack of capacity for direct encrypted messages.
It is unclear at this stage how Open Privacy will overcome the user experience challenges, however. Even the zcash option will rely onshielded transactions, which requires a node that veryfew peopleknow how to operate. Part of this grant will go toward hiring a designer and conducting more research, Lewis said.
Related:Global Protests Reveal Bitcoin’s Limitations
“Server-side support is only half the battle, and the most critical aspect of this whole endeavour will be getting people who use Cwtch to a position where they can easily use zcash (and possibly other cryptocurrencies with similar properties) to pay for anonymous services, or even accept it themselves,” Open Privacy said in a press statement.
So far, some of the greatest needs appear to bepersonal ads, such as those Craigslist or Backpage used to offer, anddating app–likefeatures. It would also need to be discreet, since Lewis said some people are subjected to “systematic or personal violence” if they are found by authorities to have apps like Grindr on their phones.
To address this, the app works almost like bitcoin in that everyone downloads a ledger of all the messages, some of which arepublic. The difference is, private keys and user identifiers can be used to unlock certain conversations, including private group chats and direct messages.
George Tankersley, the Zcash Foundation’s director of engineering, said he hopes to incorporate insights and feedback from Cwtch into the “Zebra” zcash implementation.
“One of our goals … is to do more work with external users and even competitors of zcash and to allow that to drive our priorities going into 2020,” Tankersley said.
Open Privacy, founded in 2018, is funded primarily through user donations of bitcoin, zcash and monero.
• Maker of Wasabi Bitcoin Wallet Valued at $7.5M in First Equity Round
• An Army of Bitcoin Devs Is Battle-Testing Upgrades to Privacy and Scaling || WisdomTree Launches Physically Backed Bitcoin ETP on SIX Swiss Exchange: A new bitcoin exchange traded product (ETP) has just listed on Switzerland’s SIX stock exchange, and it’s physically backed by the underlying crypto.
Launched by New York-based WisdomTree – one of largest ETF providers in the U.S. – on Tuesday, the new product will compete with a similar physically backedbitcoin ETPfrom Amun AG on SIX.
At press time, theWisdomTree ETP(ticker symbol BTCW) is live on SIX’s platform, but showing no volume as of yet. A physically backed product is settled in the underlying asset, not a cash equivalent.
Related:Institutions Are Showing Interest in ETP Tied to Binance Coin, Amun Says
WisdomTree said its Bitcoin ETP gives investors “a simple, secure and cost-efficient way to gain exposure to Bitcoin while utilising the best of traditional financial infrastructure and product structuring.”
With the product there is no need to hold the cryptocurrency directly, with the firm saying it employs “institutional grade storage solutions” for the bitcoin underlying the product. As with gold ETPs, investors in the bitcoin product will have an entitlement to the cryptocurrency underlying it.
“We have been monitoring cryptocurrencies for some time and … have seen enough to believe that digital assets, like Bitcoin, are not a passing trend and can play a role in portfolios,” said Alexis Marinof, head of Europe at WisdomTree.
The firm sees “many parallels” between cryptocurrency and commodities, according to Marinof, whose firm has been providing gold-based ETPs in Europe since 2003.
Related:Swiss SIX Exchange Lists Tezos ETP With Staking Rewards
While the product is currently available for professional investors only, WisdomTree said it hopes that a cryptocurrency ETP may soon receive regulatory approval for wider access by retail investors too.
“[W]e see blockchain technology and digital currencies as being transformative for the asset management industry,” said WisdomTree CEO Jonathan Steinberg. “Much like how the ETP structure has outshone the mutual fund structure in significant ways, blockchain and cryptocurrencies have the potential to change how investors participate in financial markets, globally.”
• Swiss Central Bank to Explore Use of Digital Franc in Settling Trades
• Swiss SIX Exchange Launches Crypto ETP Denominated in Swiss Francs || WisdomTree Launches Physically Backed Bitcoin ETP on SIX Swiss Exchange: A new bitcoin exchange traded product (ETP) has just listed on Switzerlands SIX stock exchange, and its physically backed by the underlying crypto. Launched by New York-based WisdomTree one of largest ETF providers in the U.S. on Tuesday, the new product will compete with a similar physically backed bitcoin ETP from Amun AG on SIX. At press time, the WisdomTree ETP (ticker symbol BTCW) is live on SIXs platform, but showing no volume as of yet. A physically backed product is settled in the underlying asset, not a cash equivalent. Related: Institutions Are Showing Interest in ETP Tied to Binance Coin, Amun Says WisdomTree said its Bitcoin ETP gives investors a simple, secure and cost-efficient way to gain exposure to Bitcoin while utilising the best of traditional financial infrastructure and product structuring. With the product there is no need to hold the cryptocurrency directly, with the firm saying it employs institutional grade storage solutions for the bitcoin underlying the product. As with gold ETPs, investors in the bitcoin product will have an entitlement to the cryptocurrency underlying it. We have been monitoring cryptocurrencies for some time and
have seen enough to believe that digital assets, like Bitcoin, are not a passing trend and can play a role in portfolios, said Alexis Marinof, head of Europe at WisdomTree. The firm sees many parallels between cryptocurrency and commodities, according to Marinof, whose firm has been providing gold-based ETPs in Europe since 2003. Related: Swiss SIX Exchange Lists Tezos ETP With Staking Rewards While the product is currently available for professional investors only, WisdomTree said it hopes that a cryptocurrency ETP may soon receive regulatory approval for wider access by retail investors too. [W]e see blockchain technology and digital currencies as being transformative for the asset management industry, said WisdomTree CEO Jonathan Steinberg. Much like how the ETP structure has outshone the mutual fund structure in significant ways, blockchain and cryptocurrencies have the potential to change how investors participate in financial markets, globally. Related Stories Swiss Central Bank to Explore Use of Digital Franc in Settling Trades Swiss SIX Exchange Launches Crypto ETP Denominated in Swiss Francs || WisdomTree Launches Physically Backed Bitcoin ETP on SIX Swiss Exchange: A new bitcoin exchange traded product (ETP) has just listed on Switzerland’s SIX stock exchange, and it’s physically backed by the underlying crypto.
Launched by New York-based WisdomTree – one of largest ETF providers in the U.S. – on Tuesday, the new product will compete with a similar physically backedbitcoin ETPfrom Amun AG on SIX.
At press time, theWisdomTree ETP(ticker symbol BTCW) is live on SIX’s platform, but showing no volume as of yet. A physically backed product is settled in the underlying asset, not a cash equivalent.
Related:Institutions Are Showing Interest in ETP Tied to Binance Coin, Amun Says
WisdomTree said its Bitcoin ETP gives investors “a simple, secure and cost-efficient way to gain exposure to Bitcoin while utilising the best of traditional financial infrastructure and product structuring.”
With the product there is no need to hold the cryptocurrency directly, with the firm saying it employs “institutional grade storage solutions” for the bitcoin underlying the product. As with gold ETPs, investors in the bitcoin product will have an entitlement to the cryptocurrency underlying it.
“We have been monitoring cryptocurrencies for some time and … have seen enough to believe that digital assets, like Bitcoin, are not a passing trend and can play a role in portfolios,” said Alexis Marinof, head of Europe at WisdomTree.
The firm sees “many parallels” between cryptocurrency and commodities, according to Marinof, whose firm has been providing gold-based ETPs in Europe since 2003.
Related:Swiss SIX Exchange Lists Tezos ETP With Staking Rewards
While the product is currently available for professional investors only, WisdomTree said it hopes that a cryptocurrency ETP may soon receive regulatory approval for wider access by retail investors too.
“[W]e see blockchain technology and digital currencies as being transformative for the asset management industry,” said WisdomTree CEO Jonathan Steinberg. “Much like how the ETP structure has outshone the mutual fund structure in significant ways, blockchain and cryptocurrencies have the potential to change how investors participate in financial markets, globally.”
• Swiss Central Bank to Explore Use of Digital Franc in Settling Trades
• Swiss SIX Exchange Launches Crypto ETP Denominated in Swiss Francs || Not your keys, not your coins raises some serious issues: Not your keys, not your coins is a saying that gets passed around a lot in this space. What it means is that if you store your crypto assets on an exchange or with any kind of third-party custodian, you have no guarantee of ownership. What can happen if you store your crypto on an exchange After at least seven high-profile cryptocurrency exchange hacks this year alone, cryptocurrency users are aware of the dangers. But its not only hackers that are after their Bitcoin. What happens if the exchange goes bust or its accounts are frozen by a regulator? Inside jobs, exit scams, Ponzi schemes, and even a suspicious death made up the lions share of the $4.4bn lost in cryptocurrency crime in 2019. Not your keys, not your coins. https://t.co/Hj03HEe1ML Bitcoin (@Bitcoin) May 22, 2019 You get the message. Store your crypto safely either in a hardware wallet or in a secure software wallet that allows you to store your crypto offline. So, now youre in full control of your crypto assets, what could possibly go wrong? Being your own bank is a terrifying prospect When it comes to proper storage of your digital assets, you now get full points for keeping them safe. However, having any significant amount of crypto wealth stored in a hardware wallet, mobile phone, or toolbar extension also isnt ideal. And it raises some serious issues. What happens, for example, if you lose your wallet or it gets damaged in a house fire? Unless its a wallet with the private keys on the front and no backup, like Bobby Lees Ballet , you should be fine as long as you have your recovery seed. But what happens if you lose that? Proper storage of private keys has become one of the biggest issues in the space of late. However, according to a Chainalysis study from 2017, between 30 to 50% of all Bitcoin (some estimated $20bn in value) will likely be lost and out of circulation due to users losing their private keys. Story continues More recent polling uncovered that almost one-fifth of all cryptocurrency holders have lost digital assets due to mismanaged wallets. According to Myungin Solomon Lee, Head of Product and Growth at Squarelink : Studies suggest nearly four million Bitcoin have been lost to date, but the reality is this number is likely much higher. He continues, Mishandling private keys is an issue that affects everyone in the crypto community and has directly translated to the loss of tens of millions of dollars in digital assets. With more than 42 million digital wallets in existence, do we really know that were managing them correctly? The other problem with backup seeds Lets say that you store your crypto safely, have the backup seed written down in a few places just in case, and have no issue finding it when you need it. What then? Squarelinks co-founder and CTO, Alex Patin, says that theres a custodial catch issue when it comes to that as well. Most private key recovery solutions are not truly non-custodial and rely on companies like Google to create OAuth tokens. Since Google is a centralised authority, a malicious employee with access could arbitrarily create access tokens for every user leveraging that technology, and fetch all the shards on hosted decentralised nodes containing PK information. This is why Squarelink has released the first non-custodial private key recovery for several dApps using its wallet management tool. Currently, the company that provides easy access to multiple dApps via just one interface is providing the only non-custodial private key recovery platform for cryptocurrency and blockchain applications. All other solutions rely on OAuth providers such as Google or custodial key-management services like Amazon Cognito. What this means for the future of crypto storage Squarelinks recovery methods increase security and use familiar processes for users to retrieve and reset their private keys. Its setup allows users to recover private keys through any combination of challenge questions, Universal Second Factor (U2F), or email with PGP encryption. Squarelink facilitates account recovery through encrypted Recovery Seeds that only the user can access, ensuring no third parties are granted access, adds Patin. Today, there are countless threats to a digital wallet, yet so few security solutions. We must equip users with easy-to-use tools to not only keep assets safe but to also recover them should they be mishandled. While the solution is only available to a handful of dApp wallet users right now, it certainly provides a glimpse of the future of storing crypto. The post Not your keys, not your coins raises some serious issues appeared first on Coin Rivet . || Not your keys, not your coins raises some serious issues: Not your keys, not your coins is a saying that gets passed around a lot in this space. What it means is that if you store your crypto assets on an exchange or with any kind of third-party custodian, you have no guarantee of ownership. What can happen if you store your crypto on an exchange After at least seven high-profile cryptocurrency exchange hacks this year alone, cryptocurrency users are aware of the dangers. But its not only hackers that are after their Bitcoin. What happens if the exchange goes bust or its accounts are frozen by a regulator? Inside jobs, exit scams, Ponzi schemes, and even a suspicious death made up the lions share of the $4.4bn lost in cryptocurrency crime in 2019. Not your keys, not your coins. https://t.co/Hj03HEe1ML Bitcoin (@Bitcoin) May 22, 2019 You get the message. Store your crypto safely either in a hardware wallet or in a secure software wallet that allows you to store your crypto offline. So, now youre in full control of your crypto assets, what could possibly go wrong? Being your own bank is a terrifying prospect When it comes to proper storage of your digital assets, you now get full points for keeping them safe. However, having any significant amount of crypto wealth stored in a hardware wallet, mobile phone, or toolbar extension also isnt ideal. And it raises some serious issues. What happens, for example, if you lose your wallet or it gets damaged in a house fire? Unless its a wallet with the private keys on the front and no backup, like Bobby Lees Ballet , you should be fine as long as you have your recovery seed. But what happens if you lose that? Proper storage of private keys has become one of the biggest issues in the space of late. However, according to a Chainalysis study from 2017, between 30 to 50% of all Bitcoin (some estimated $20bn in value) will likely be lost and out of circulation due to users losing their private keys. Story continues More recent polling uncovered that almost one-fifth of all cryptocurrency holders have lost digital assets due to mismanaged wallets. According to Myungin Solomon Lee, Head of Product and Growth at Squarelink : Studies suggest nearly four million Bitcoin have been lost to date, but the reality is this number is likely much higher. He continues, Mishandling private keys is an issue that affects everyone in the crypto community and has directly translated to the loss of tens of millions of dollars in digital assets. With more than 42 million digital wallets in existence, do we really know that were managing them correctly? The other problem with backup seeds Lets say that you store your crypto safely, have the backup seed written down in a few places just in case, and have no issue finding it when you need it. What then? Squarelinks co-founder and CTO, Alex Patin, says that theres a custodial catch issue when it comes to that as well. Most private key recovery solutions are not truly non-custodial and rely on companies like Google to create OAuth tokens. Since Google is a centralised authority, a malicious employee with access could arbitrarily create access tokens for every user leveraging that technology, and fetch all the shards on hosted decentralised nodes containing PK information. This is why Squarelink has released the first non-custodial private key recovery for several dApps using its wallet management tool. Currently, the company that provides easy access to multiple dApps via just one interface is providing the only non-custodial private key recovery platform for cryptocurrency and blockchain applications. All other solutions rely on OAuth providers such as Google or custodial key-management services like Amazon Cognito. What this means for the future of crypto storage Squarelinks recovery methods increase security and use familiar processes for users to retrieve and reset their private keys. Its setup allows users to recover private keys through any combination of challenge questions, Universal Second Factor (U2F), or email with PGP encryption. Squarelink facilitates account recovery through encrypted Recovery Seeds that only the user can access, ensuring no third parties are granted access, adds Patin. Today, there are countless threats to a digital wallet, yet so few security solutions. We must equip users with easy-to-use tools to not only keep assets safe but to also recover them should they be mishandled. While the solution is only available to a handful of dApp wallet users right now, it certainly provides a glimpse of the future of storing crypto. The post Not your keys, not your coins raises some serious issues appeared first on Coin Rivet . || Bitcoin to See Return of Bull Cross That Marked Onset of 2016-17 Price Rally: View Bitcoins 50- and 100-week moving averages (MAs) look set to produce a bullish crossover next week. Back in 2016, the same cross marked the start of a long-term bull market. Prices could rise to key trendline resistance at $7,600 in the short-term. A break higher would expose the recent high of $7,870. The short-term bullish case would be invalidated if prices drop below $6,847. A bitcoin price indicator that marked the beginning of the 2016-17 bull market is about to make another appearance. The cryptocurrencys 50-week MA is on track to cross above the 100-week MA next week. The resulting bullish crossover would be the first since May 2016, according to Bitstamp data. MA crossovers are momentum indicators and help traders gauge the market trend. A bullish cross, therefore, suggests a rally is about to gather steam or a bull market is on the horizon. Related: Bullish Bitcoin Chart Pattern Still Intact Despite 7% Price Drop Its worth noting that MA studies are based on historical data and that crossovers, especially longer duration ones, tend to lag prices. For instance, the 50-week MA is based on one-year-old data and the 100-week MA is sensitive to the price action seen over the last two years. Put simply, the price rise from the December 2018 low of $3,122 to the June 2019 high of $13,880 has put the 50-week MA on an upward trajectory. So it could be argued that the impending bull cross is a lagging indicator and has limited predictive powers. Even so, the chart pattern warrants attention due to the fact that bitcoin broke into a 19-month long uptrend with the bullish crossover of the same averages in May 2016. Weekly chart (2015-2017) Related: WATCH: Thiel Capitals Eric Weinstein Talks About the Nature of Money The 50-week MA found acceptance above the 100-week MA in the last week of May 2016, following which the cryptocurrency picked up a strong bid near $430 and charted its way a record high of around $20,000 in December 2017. Story continues The low of $377 registered four weeks ahead of the confirmation of the crossover was never put to test again. (Interestingly, bitcoins bear market from the December 2013 highs above $1,160 ran out of steam with a bearish crossover of the same two averages in April 2015.) Similar price action was observed earlier this year, as seen below. Weekly chart (2018-19) Bitcoin charted a higher low of $3,700 in February, despite confirmation of a bear cross, signaling an end of the bear market following record highs near $20,000. With history perhaps looking to repeat itself, theres some reason to believe the upcoming bull cross of the 50- and 100-week MAs could bode well for bitcoin. As for the next 24 hours, the probability of bitcoin witnessing an upside move is high. At press time, the cryptocurrency is changing hands at $7,270 on Bitstamp, representing a 0.75 percent drop on the day. Daily and three-day charts The long lower wicks attached to the previous two daily candles represent a rejection of lower prices or seller exhaustion. This, coupled with the MACD histograms bullish turn to above zero indicates scope for a re-test of the descending trendline, currently at $7,600. Also, with prices holding well above $6,847, the bullishhammer reversal pattern confirmed on the three-day chart last week is stillvalid. That pattern would be invalidated if prices drop below $6,847, opening the doors for re-test of recent lows near $6,500. Disclosure: The author holds no cryptocurrency assets at the time of writing. Related Stories Bitcoin Faces Biggest Monthly Price Drop of 2019 Despite Late Upturn What the Fed Reserves Balance Sheet Expansion Means for Bitcoin || Bitcoin to See Return of Bull Cross That Marked Onset of 2016-17 Price Rally: • Bitcoin’s 50- and 100-week moving averages (MAs) look set to produce a bullish crossover next week. Back in 2016, the same cross marked the start of a long-term bull market.
• Prices could rise to key trendline resistance at $7,600 in the short-term. A break higher would expose the recent high of $7,870.
• The short-term bullish case would be invalidated if prices drop below $6,847.
A bitcoin price indicator that marked the beginning of the 2016-17 bull market is about to make another appearance.
The cryptocurrency’s 50-week MA is on track to cross above the 100-week MA next week. The resulting bullish crossover would be the first since May 2016, according to Bitstamp data.
MA crossovers are momentum indicators and help traders gauge the market trend. A bullish cross, therefore, suggests a rally is about to gather steam or a bull market is on the horizon.
Related:Bullish Bitcoin Chart Pattern Still Intact Despite 7% Price Drop
It’s worth noting that MA studies are based on historical data and that crossovers, especially longer duration ones, tend to lag prices. For instance, the 50-week MA is based on one-year-old data and the 100-week MA is sensitive to the price action seen over the last two years.
Put simply, the price rise from the December 2018 low of $3,122 to the June 2019 high of $13,880 has put the 50-week MA on an upward trajectory.
So it could be argued that the impending bull cross is a lagging indicator and has limited predictive powers.
Even so, the chart pattern warrants attention due to the fact that bitcoin broke into a 19-month long uptrend with the bullish crossover of the same averages in May 2016.
Related:WATCH: Thiel Capital’s Eric Weinstein Talks About the Nature of Money
The 50-week MA found acceptance above the 100-week MA in the last week of May 2016, following which the cryptocurrency picked up a strong bid near $430 and charted its way a record high of around $20,000 in December 2017.
The low of $377 registered four weeks ahead of the confirmation of the crossover was never put to test again.
(Interestingly, bitcoin’s bear market from the December 2013 highs above $1,160 ran out of steam with a bearish crossover of the same two averages in April 2015.)
Similar price action was observed earlier this year, as seen below.
Bitcoin charted a higher low of $3,700 in February, despite confirmation of a bear cross, signaling an end of the bear market following record highs near $20,000.
With history perhaps looking to repeat itself, there’s some reason to believe the upcoming bull cross of the 50- and 100-week MAs could bode well for bitcoin.
As for the next 24 hours, the probability of bitcoin witnessing an upside move is high. At press time, the cryptocurrency is changing hands at $7,270 on Bitstamp, representing a 0.75 percent drop on the day.
The long lower wicks attached to the previous two daily candles represent a rejection of lower prices or seller exhaustion. This, coupled with the MACD histogram’s bullish turn to above zero indicates scope for a re-test of the descending trendline, currently at $7,600.
Also, with prices holding well above $6,847, the bullishhammer reversal pattern confirmed on the three-day chart last week is stillvalid.
That pattern would be invalidated if prices drop below $6,847, opening the doors for re-test of recent lows near $6,500.
Disclosure: The author holds no cryptocurrency assets at the time of writing.
• Bitcoin Faces Biggest Monthly Price Drop of 2019 Despite Late Upturn
• What the Fed Reserve’s Balance Sheet Expansion Means for Bitcoin || Bitcoin to See Return of Bull Cross That Marked Onset of 2016-17 Price Rally: • Bitcoin’s 50- and 100-week moving averages (MAs) look set to produce a bullish crossover next week. Back in 2016, the same cross marked the start of a long-term bull market.
• Prices could rise to key trendline resistance at $7,600 in the short-term. A break higher would expose the recent high of $7,870.
• The short-term bullish case would be invalidated if prices drop below $6,847.
A bitcoin price indicator that marked the beginning of the 2016-17 bull market is about to make another appearance.
The cryptocurrency’s 50-week MA is on track to cross above the 100-week MA next week. The resulting bullish crossover would be the first since May 2016, according to Bitstamp data.
MA crossovers are momentum indicators and help traders gauge the market trend. A bullish cross, therefore, suggests a rally is about to gather steam or a bull market is on the horizon.
Related:Bullish Bitcoin Chart Pattern Still Intact Despite 7% Price Drop
It’s worth noting that MA studies are based on historical data and that crossovers, especially longer duration ones, tend to lag prices. For instance, the 50-week MA is based on one-year-old data and the 100-week MA is sensitive to the price action seen over the last two years.
Put simply, the price rise from the December 2018 low of $3,122 to the June 2019 high of $13,880 has put the 50-week MA on an upward trajectory.
So it could be argued that the impending bull cross is a lagging indicator and has limited predictive powers.
Even so, the chart pattern warrants attention due to the fact that bitcoin broke into a 19-month long uptrend with the bullish crossover of the same averages in May 2016.
Related:WATCH: Thiel Capital’s Eric Weinstein Talks About the Nature of Money
The 50-week MA found acceptance above the 100-week MA in the last week of May 2016, following which the cryptocurrency picked up a strong bid near $430 and charted its way a record high of around $20,000 in December 2017.
The low of $377 registered four weeks ahead of the confirmation of the crossover was never put to test again.
(Interestingly, bitcoin’s bear market from the December 2013 highs above $1,160 ran out of steam with a bearish crossover of the same two averages in April 2015.)
Similar price action was observed earlier this year, as seen below.
Bitcoin charted a higher low of $3,700 in February, despite confirmation of a bear cross, signaling an end of the bear market following record highs near $20,000.
With history perhaps looking to repeat itself, there’s some reason to believe the upcoming bull cross of the 50- and 100-week MAs could bode well for bitcoin.
As for the next 24 hours, the probability of bitcoin witnessing an upside move is high. At press time, the cryptocurrency is changing hands at $7,270 on Bitstamp, representing a 0.75 percent drop on the day.
The long lower wicks attached to the previous two daily candles represent a rejection of lower prices or seller exhaustion. This, coupled with the MACD histogram’s bullish turn to above zero indicates scope for a re-test of the descending trendline, currently at $7,600.
Also, with prices holding well above $6,847, the bullishhammer reversal pattern confirmed on the three-day chart last week is stillvalid.
That pattern would be invalidated if prices drop below $6,847, opening the doors for re-test of recent lows near $6,500.
Disclosure: The author holds no cryptocurrency assets at the time of writing.
• Bitcoin Faces Biggest Monthly Price Drop of 2019 Despite Late Upturn
• What the Fed Reserve’s Balance Sheet Expansion Means for Bitcoin
[Social Media Buzz]
None available.
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7448.31, 7547.00, 7556.24, 7564.35, 7400.90, 7278.12, 7217.43, 7243.13, 7269.68, 7124.67
|
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 58323.95, 58245.00, 59793.23, 60204.96, 59893.45, 63503.46, 63109.70, 63314.01, 61572.79, 60683.82, 56216.18, 55724.27, 56473.03, 53906.09, 51762.27, 51093.65, 50050.87, 49004.25, 54021.75, 55033.12, 54824.70, 53555.11, 57750.18, 57828.05, 56631.08, 57200.29, 53333.54, 57424.01, 56396.52, 57356.40, 58803.78, 58232.32, 55859.80, 56704.57, 49150.54, 49716.19, 49880.54, 46760.19, 46456.06, 43537.51, 42909.40, 37002.44, 40782.74, 37304.69, 37536.63, 34770.58, 38705.98, 38402.22, 39294.20, 38436.97, 35697.61, 34616.07, 35678.13, 37332.86, 36684.93, 37575.18, 39208.77, 36894.41, 35551.96, 35862.38, 33560.71, 33472.63, 37345.12, 36702.60, 37334.40, 35552.52, 39097.86, 40218.48, 40406.27, 38347.06, 38053.50, 35787.25, 35615.87, 35698.30, 31676.69, 32505.66, 33723.03, 34662.44, 31637.78, 32186.28, 34649.64, 34434.34, 35867.78, 35040.84, 33572.12, 33897.05, 34668.55, 35287.78, 33746.00, 34235.20.
|
[Bitcoin Technical Analysis for 2021-07-06]
Volume: 26501259870, RSI (14-day): 46.38, 50-day EMA: 37917.70, 200-day EMA: 39751.77
[Wider Market Context]
Gold Price: 1793.50, Gold RSI: 43.74
Oil Price: 73.37, Oil RSI: 59.66
[Recent News (last 7 days)]
Criminals In Historically Large, Global Cyberattack Demand $70 Million Ransom: The criminal group REvil, which has claimed responsibility for a global cyberattack security officials are calling one of the largest in history, has demanded $70 million in return for a tool it says will unlock all of the devices that have been hacked. In a Sunday post on the group’s dark web site, REvil claims to have infected “more than a million systems” in a ransomware attack targeting Kaseya, a worldwide software company serving at least 200 U.S. businesses. Ransomware attacks allow criminals using malicious software to access someone’s computer and withhold that access until the criminals receive compensation. The attackers demanded $70 million in Bitcoin. REvil, a criminal gang cybersecurity officials have linked to Russia, crippled the world’s largest meatpacking company, JBS, with a ransomware attack in early June. Within days of the attack, JBS paid hackers from REvil an $11 million ransom to unlock its systems . President Joe Biden said Saturday he had “directed the full resources of the government” to respond to the attack on Kaseya, but in remarks made before REvil posted its ransom note, Biden said he was unsure of the Russian government’s involvement in the Kaseya attack. “The initial thinking was it was not the Russian government, but we’re not sure yet,” Biden said, adding he would be receiving an intelligence briefing about the attack on Sunday. Cybersecurity officials and officials from Kaseya have said the full scope of the attack in the U.S. will be better ascertained on Tuesday, when most employees return to work after the July 4 holiday weekend. A shuttered Coop supermarket store is pictured in Stockholm, Sweden, on July 3 during an ongoing In Sweden, most of the grocery chain Coop’s 800 stores were unable to open because its cash registers weren’t working, according to SVT, the country’s public broadcaster. The Swedish State Railways and a major pharmacy chain were also affected. Anne Neuberger, the deputy national security adviser for cyber and emerging technology, on Sunday urged anyone who believes their system is compromised to contact authorities through the Internet Crime Complaint Center. Story continues The most recent ransomware attack was discovered on Saturday. The cybersecurity firm ESET reported victims in at least 17 countries, including the United Kingdom, South Africa, Canada, Argentina, Mexico and Spain. This article originally appeared on HuffPost and has been updated. Related... DOJ Recovers Multimillion Dollar Ransom Payment After Pipeline Cyberattack FBI Director: Don't Pay Ransomeware Payments To Hackers After Cyberattacks || Criminals In Historically Large, Global Cyberattack Demand $70 Million Ransom: The criminal group REvil, which has claimed responsibility for a global cyberattack security officials are calling one of the largest in history, has demanded $70 million in return for a tool it says will unlock all of the devices that have been hacked. In a Sunday post on the group’s dark web site, REvil claims to have infected “more than a million systems” in a ransomware attack targeting Kaseya, a worldwide software company serving at least 200 U.S. businesses. Ransomware attacks allow criminals using malicious software to access someone’s computer and withhold that access until the criminals receive compensation. The attackers demanded $70 million in Bitcoin. REvil, a criminal gang cybersecurity officials have linked to Russia, crippled the world’s largest meatpacking company, JBS, with a ransomware attack in early June. Within days of the attack, JBS paid hackers from REvil an $11 million ransom to unlock its systems . President Joe Biden said Saturday he had “directed the full resources of the government” to respond to the attack on Kaseya, but in remarks made before REvil posted its ransom note, Biden said he was unsure of the Russian government’s involvement in the Kaseya attack. “The initial thinking was it was not the Russian government, but we’re not sure yet,” Biden said, adding he would be receiving an intelligence briefing about the attack on Sunday. Cybersecurity officials and officials from Kaseya have said the full scope of the attack in the U.S. will be better ascertained on Tuesday, when most employees return to work after the July 4 holiday weekend. A shuttered Coop supermarket store is pictured in Stockholm, Sweden, on July 3 during an ongoing In Sweden, most of the grocery chain Coop’s 800 stores were unable to open because its cash registers weren’t working, according to SVT, the country’s public broadcaster. The Swedish State Railways and a major pharmacy chain were also affected. Anne Neuberger, the deputy national security adviser for cyber and emerging technology, on Sunday urged anyone who believes their system is compromised to contact authorities through the Internet Crime Complaint Center. Story continues The most recent ransomware attack was discovered on Saturday. The cybersecurity firm ESET reported victims in at least 17 countries, including the United Kingdom, South Africa, Canada, Argentina, Mexico and Spain. This article originally appeared on HuffPost and has been updated. Related... DOJ Recovers Multimillion Dollar Ransom Payment After Pipeline Cyberattack FBI Director: Don't Pay Ransomeware Payments To Hackers After Cyberattacks || FTSE falls 1pc after Covid debt risk warning: British Landwas the biggest blue-chip faller on Tuesday after Jeffries warned that leading real estate investment trusts faced “greening” costs of between £700m and £800m.
The broker downgraded the stock to “hold” and cut its price target, arguing the cost of doing business for both British Land and rivalLand Securitieswas rising and profits would be depend on decarbonisation costs.
Jeffries expects a government White Paper, which advocates for rented non-domestic buildings to meet minimum energy standards, to become law.
However, it expected about 70pc of portfolios owned by British Land and Land Securities to “fall short” of those standards, resulting in significant costs for the companies.
Shares in British Land dropped 21p to 501.2p and Land Securities shares dipped 21.8p to 682.8p.
At the other end of the FTSE 100,Ocadowas the top riser yesterday morning after the grocery delivery company said it had won Spanish supermarket chain Alcampo as a new client for its robotic warehouse business.
However, investors later focused on Ocado’s revelations that consumers had started returning to their pre-pandemic shopping habits and basket sizes were shrinking as consumers began to eat fewer meals at home with the reopening of restaurants.
After their initial 3pc surge, shares ended the day 83.5p lower at £19.01.
Sainsbury’salso noted that shopping habits were starting to return to pre-pandemic routines, with online demand gradually reducing from peak levels recorded last year.
However, Britain’s second-largest supermarket said it expected to exceed its forecast with a profit of more than £660m this financial year due to better-than-expected sales of groceries, clothing and general merchandise. Its shares ended 1.6p higher at 279.8p.
TheFTSE 100dropped 1pc to close 64 points lower at 7,100.8 following a warning from the government’s fiscal watchdog that unfunded Covid-19 legacy spending of £10bn a year on health, education and transport presented a “material risk” to the public finances.
The mid-capFTSE 250index shed 127 points to 22,895.3 and the pound also lost ground to $1.3778.
Brent oildipped to $74.42 amid uncertainty over which route Opec and its oil-producing allies would take as talks on output ended without an announcement.
The 23-nation Opec+ coalition had been on the brink of an agreement to restore production halted during the pandemic, in monthly increments of 400,000 barrels a day. That plan could still be ratified, or members may choose to informally leak barrels.
That is all from us today - here are some of our top stories:
• Surging cost of pensions triple lock piles more pressure on Sunak
• Cornwall mining company strikes silver
• US oil hits seven-year high as Opec talks fall apart
• Lorry driver shortage leaves gaps on Sainsbury's shelves
• Vauxhall owner secures future of Ellesmere Port with new electric van
Thank you for following along and enjoy your evening.
Raw sugar reversed gains in New York today after climbing near the highest in more than four years on speculation that frost in Brazil won’t do as much damage as feared, and amid a broader selloff in oil and other agricultural commodities.
Oil, meanwhile, fell back from a six-year high amid a rising dollar and uncertainty over OPEC+’s failure to ratify an agreement, pressuring ethanol values.
Amazon's new chief executive Andy Jassy has vowed to tackle staff unhappiness in his first message to employees since taking over from founder Jeff Bezos on Monday,reports Io Dodds.
The 53-year-old executive, who previously ran Amazon's cloud computing arm Amazon Web Services (AWS), said there were "many issues" dividing the e-commerce giant's workforce, gesturing towards its internal battles over remote working and climate change as well as unionisation drives in its warehouses.
He also hailed Amazon's carbon commitments and other social justice programmes such as grants to black businesses, following its decision last week to add "strive to be Earth's best employer" to its list of corporate goals.
The message, obtained by Business Insider, largely stresses continuity with the "relentless" philosophy of Mr Bezos. It comes as Amazon bosses clash with staff over its plan to return to offices, while one of America's biggest trade unions, the Teamsters, voted last month to push for union recognition across the company's warehouse empire.
Mr Jassy said: "I started at Amazon when there were just around 250 employees. We now have more than 1.2m. It's happened fast, especially over the last decade..."At our size, at the pace we're trying to move for customers, and with our penchant for experimenting, we won't get everything right."We have issues that we need to work on - some we can solve quickly, others will take longer. But please know that I care, and that we will work together to make Amazon better every day."
Justin King, the former chief of Sainsbury's, has backed Ellie Goulding's hard seltzer drinks brand, Served, with a "significant" investment as well as becoming a senior board advisor. His investment sum was not disclosed.
The brand was founded by brothers Dean and Ryan Ginsberg last year and valued at £13.6m in a fundraise earlier this year. Singer Ellie Goulding last June took a significant stake in the business, which she now co-owns.
Mr King, who is also a non-executive director at Marks & Spencer, said: “Dean and Ryan have created a truly premium product which stands out in the crowded field of the hard seltzer category which is set to explode in the coming year”.
The UK's hard seltzer drinks category - sparkling flavoured alcohol water - is expected to reach £600m in sales by 2025, according to Nielson. Sales in the US exceeded $4bn in 2020, according to IRI.
Danni Hewson, AJ Bell financial analyst, comments on the day's trading:
Inflation woes certainly seem to have gripped UK investors today following a pretty grim report from the government’s public spending watchdog. High levels of public debt are more vulnerable than ever to rising interest rates but failure to spend to deal with issues such as Covid scarring and meeting climate targets brings its own costs and requires the current chancellor to perfect his soft shoe shuffle.Today has felt like an adjustment off the back of yesterday’s “freedom focussed” boost. That adjustment could well undergo an adrenaline fuelled about turn as the country sets aside its troubles and takes a moment to enjoy the unfamiliar feeling of hope ahead of England’s semi-final clash with Denmark.
Brent oil has plummeted 3pc this afternoon, after making gains earlier in the day.
The lack of lorry drivers is leading to shortages of products such as strawberries and salads at Sainsbury's and forcing Ocado to lend staff to some suppliers, reportsLaura Onita.
She writes:
Britain's second-largest supermarket said several factors such as the worldwide shortages of shipping containers, a drought of HGV drivers in the UK, higher than expected demand for some products and an increase in staff absences have all contributed to some gaps on shelves.Sainsbury's said that disruption in its general merchandise arm that includes Argos was expected to last for the rest of the year due to chip shortages for electronics.Products such as fresh fish and poultry as well as outdoor items including garden furniture were also suffering some disruptions.
Read Laura's full story here.
Markets were closed yesterday for July 4 celebrations of course, and analysts say traders have returned weighing the risk of the new Delta Covid variant against the heady valuations of US stocks.
Indices having notched multiple record highs off the back of massive central bank cash injections to keep markets liquid during the pandemic, and the S&P, Dow and Nasdaq all finished last week at new highs.
"The stock market has been on quite a run of late and several reports have discussed the huge inflows to equity funds in the first half of the year," said Briefing.com analyst Patrick O'Hare. "Consequently, there is some emerging concern that the stock market is due for a cooling-off period."
The S&P has recorded seven consecutive new record highs in the last week and a half, and Sam Stovall, chief investment strategist at CFRA, pointed to that as evidence that investors "feel they have got nowhere else to go".
"The confidence is supported by the fact that investors are willing to rotate rather than just bailing out altogether," Stovall added.
Perhaps we spoke too soon. Just 20 minutes later and Wall Street has taken a turn for the worse, with the S&P 500 shrinking back from its record high to fall 0.27pc to 4,340 points.
The Dow slumped by 0.62pc while the tech-heavy Nasdaq hung onto a 0.2pc climb.
The S&P's reversal came after seven consecutive jumps at the opening bell, as economic data continues to underline the US's robust economic recovery.
“The US economy is booming, but this is now a known known and asset markets reflect it. What isn’t so clear anymore is at what price this growth will accrue,” Michael Wilson, chief US equity strategist at Morgan Stanley, said in a note seen by CNBC.
“Higher costs mean lower profits, another reason why the overall equity market has been narrowing... equity markets are likely to take a break this summer as things heat up.”
Meanwhile, ride-hailing app Didi suffered a 22.7pc plunge after the aforementioned Beijing cybersecurity probe.
The S&P 500 index opened at a record high on Tuesday, lifted by shares of mega-cap technology firms, while Beijing's regulatory crackdown hammered shares of several U.S.-listed Chinese firms.
The Dow Jones Industrial Average rose 3.8 points, or 0.01pc, at the open to 34,790.16.
The S&P 500 rose 4.1 points, or 0.09pc, at the open to a record high of 4,356.46 , while the Nasdaq Composite rose 22.2 points, or 0.15pc, to 14661.548 at the opening bell.
Shares in Didi, the Chinese ridesharing company, fell as much as 25pc on Tuesday after Chinese regulators blocked downloads of its app, reports my colleagueJames Cook.
He writes:
The firm, which listed in New York less than a week ago with a valuation of $68bn (£49bn), has found itself at the centre of a cybersecurity probe by the Chinese government.The share price plunge in pre-market trading wiped as much as $19bn off its value.Didi had been urged by Chinese regulators to delay its New York float to carry out a cybersecurity review into its collection of personal data, the Wall Street Journal reported.
Read the full story here.
Neighbourhood social media platform Nextdoor has agreed to go public by merging with a Nasdaq-listed special purpose acquisition company in a deal that would value the business at $4.3bn.
Around 60m people use the platform, which attempts to recreate neighbourhoods online by creating spaces where people can discuss local issues or buy or sell goods with others nearby.
The 20-year-old company aims to raise $686m in gross proceeds, including $416m in cash and $270m in private investment financing, by merging with a Spac launched by Silicon Valley venture capital group Khosla Ventures.
The private investment comes from T Rowe Price Associates, Soroban Capital, accounts advised by Ark Invest, as well as existing investors Tiger Global.
Nextdoor's revenues, which stems almost entirely from advertising, rose 49pc in 2020 to $123m.
However the company remains lossmaking, with net losses of $75m last year even after the pandemic prompted a 50pc bump in daily active users as people looked for ways toparticipate in community efforts to tackle the crisis.
The social media company is lead by chief executive Sarah Friar, a farmer's daughter from Northern Ireland who was previously chief financial officer of Twitter-founder Jack Dorsey's payments business Square. Her leaving announcement drove the company’s share price down 9pc.
Friar will be tasked with heading off competition from the likes of Facebook, which launched its own "Neighbourhoods" product in May.
Raw sugar climbed near the highest in more than four years, as the dispute between Saudi Arabia and the United Arab Emirates over production improves demand prospects for cane-based biofuel in Brazil.
The price rise has also been fuelled by the prospect of potentially tightening sugar supplies after Brazil's recent cold spell cut cane output expectations.
AstraZeneca is one step closer to completing its acquisition of Alexion Pharmaceuticals after getting the green-light from EU competition authorities, reportsJulia Bradshaw.
The European Commission has cleared the way for AstraZeneca to acquire Alexion, a US rare drugs specialist, following similar moves from competition watchdogs in the US, Japan and other global jurisdictions.
The UK’s Competition and Markets Authority (CMA) has not, however, approved the deal. It launched an investigation into it in May, with a decision expected on July 21.
AstraZeneca needs to make acquisitions to bring more blockbuster products into its portfolio to reach its revenue goal of $40bn by 2023. It also needs to increase cashflow to raise a dividend that has been flat for over a decade.
But the Alexion deal has raised eyebrows in the City because of the hefty £31bn price tag, which some investors fear is too high a price to pay.
The shares slumped 9pc to an eight-month low when the acquisition was announced last December.
Others in the industry, however, believe Alexion will help AstraZeneca in the long-term by diversifying the business into the field of immunology, which many believe will be the next big wave of innovation in pharmaceuticals.
Bitcoin erased most of its gains today, after China's central bank ordered the closure of a software company Beijing, alleging it had been involved in providing software services for cryptocurrency transactions.
The move against the company, Qudao Cultural Development, was necessary "to prevent and control the risk of speculation in virtual currency transactions, and protect the safety of the public's assets", the bank said in a statement
The world's largest cryptocurrency had risen as much as 3.7pc to $35,094 before dropping back after the People’s Bank of China announcement.
It is now trading at £33,939.
Fantastic that@Stellantisis opening Europe’s first factory for the mass-production of electric vehicles here in the UK.It’s a huge vote of confidence in our economy and a prime example of the kind of high-skilled, well-paid jobs at the core of our Green Industrial Revolution.pic.twitter.com/MYUaZxnaGg
The Soho House private members club said today it plans to raise as much as $480m through a US initial public offering, targeting a valuation of about $3.21bn.
Soho House plans to sell 30 million shares of its Class A common stock priced between $14 and $16 apiece on the New York Stock Exchange. It has applied to list its shares under the symbol "MCG".
The company, which has filed under the name Membership Collective Group Inc, began operating as Soho House in 1995 and now has members across physical and digital spaces, including Soho Houses, The Ned in London and Scorpios Beach Club in Mykonos.
As of April 4, the group had more than 119,000 members.
Here's the daily round-up from The Telegraph's Money team:
• The best places in the UK to buy a holiday home for under £300,000:The most sought-after locations thanks to another staycation summer
• Use your Isa to dodge pensions lifetime allowance tax charge:The pensions lifetime allowance is catching more savers, could using the £20,000 Isa allowance be the answer?
• Government investigated for denying women state pension payouts:Former pensions minister says audit essential to avoid cover up
US stock futures are treading water this morning on Wall Street, with futures tied to the Dow Jones Industrial Average and the Nasdaq falling fractionally lower. S&P 500 futures were flat.
New York Stock Exchange shares of Chinese ride-hailing giant Didi plummeted up to 25pc in pre-market trading, after China surprised investors by saying new users could not download the app until it conducts a cybersecurity review.
Analysts are predicting increased volatility on Wall Street in the year's second half, after a strong performance tied to the post-pandemic economic opening. The S&P 500 for example has risen 16pc year-to-date.
“The US economy is booming, but this is now a known known and asset markets reflect it. What isn’t so clear anymore is at what price this growth will accrue,” Michael Wilson, chief US equity strategist at Morgan Stanley, said in a note.
Saudi Arabia has raised oil prices for buyers in Europe, Asia and the US for August after OPEC+ talks broke down following a dispute over output policy.
In its main market of Asia, Saudi Aramco increased the official selling price for Arab Light crude by 80 cents a barrel to $2.70 above the regional benchmark. The kingdom sends over 60pc of its crude exports to Asia, with China, Japan, South Korea and India being its biggest buyers.
That’s the biggest month-on-month increase since January and suggests the oil giant won’t raise supply next month even as it sees the market tightening.
Aramco is also raising rates for Northwest Europe by 80 cents a barrel and for the Mediterranean region by 60-80 cents.
The future of Vauxhall’s plant at Ellesmere Port has been guaranteed with a new generation of electric vans being built there - but only after a £40m subsidy from the taxpayer, reportsAlan Tovey.
He writes:
The Cheshire site will get £100m of investment from parent Stellantis to update its production lines to enable it to build eight different models, becoming the company’s first factory dedicated to electric vehicles.Paul Willcox, managing director of Vauxhall, said the investment “secures” the jobs of all 1,030 Ellesmere Port staff, as well as three times that number in the supply chain.However, he said without the state subsidy - which he refused to confirm the amount of or give details on what it will fund - the plant would "absolutely” have shut.
Read Alan's full story here.
British carmaker Jaguar Land Rover has warned the global semiconductor shortage is getting worse and deliveries in the second quarter will be 50pc below what the business initially expected.
“The chip shortage is presently very dynamic and difficult to forecast,” JLR said in a statement that was filed to Mumbai's stock exchange by its Indian parent Tata Motors today.
“The broader underlying structural capacity issues will only be resolved as supplier investment in new capacities comes online over the next 12 to 18 months, and so we expect some level of shortages will continue through to the end of the year and beyond.”
Other automakers including Nissan Motor Co., Hyundai Motor Co. and Volkswagen AG have warned that shrinking inventory due to the semiconductor dearth will keep squeezing sales this summer.
The dearth is threatening to slash $110bn in sales from the car industry, consulting firm AlixPartners forecast in May.
My colleagueJames Titcombhas more on what is fuelling the chip crisis here:Gadget-obsessed shoppers are feeding a catastrophic chip shortage
Ministers have admitted that footfall across Britain's high streets may never recover to pre-pandemic levels, reports my colleaguesHannah BolandandRussell Lunch.
They write:
Luke Hall, the minister for regional growth and local government, said Covid-19 had been the "largest, most synchronised shot to the economy, our social lives and the high street in living memory" and a full recovery could be impossible.By April, more than one in seven shops were vacant across UK high streets, according to the BRC-LDC Vacancy Monitor, meaning about 5,000 shops had closed since the start of the pandemic.The comments came as the Prime Minister gave the strongest indication yet that almost all Covid restrictions will end on July 19.
Read their full story here.
OPEC infighting has pushed oil prices to jump to their highest in over six years, as a dispute between Saudi Arabia and the United Arab Emirates plunges the alliance into crisis and blocks a supply increase.
West Texas Intermediate crude has advanced to $76.98 a barrel, its highest since November 2014.
With the US holiday driving season underway and gasoline prices already above $3 a gallon - considered a sensitive threshold for motorists - the the White House is calling for compromise.
A spokesperson said they are “closely monitoring the OPEC+ negotiations and their impact on the global economic recovery”.
They added: “Administration officials have been engaged with relevant capitals to urge a compromise solution that will allow proposed production increases to move forward.”
Opec member Iraq said it hopes to “witness a date” within the next 10 days for another OPEC+ meeting.
“We do not want a price war," the country's oil minister Ihsan Abdul Jabbar said. "And we do not want oil prices to rise to more than the current levels.”
The Government’s fiscal watchdog has warned that unfunded Covid-19 legacy spending of £10bn a year on health, education and transport presents a “material risk” to the public finances, reportsRussell Lynch.
The Office for Budget Responsibility’s latest Fiscal Risks report stressed that spending plans took no account of pandemic spending beyond the end of the financial year, while budgets had been cut by £14.5bn a year from 2022-3 relative to pre-virus plans.
The OB said the Government could face spending pressures of around £10bn a year on average over the next three years, with an extra £7bn spent on health alone to deal with revaccinations as well as catching up with lost treatments.
Catch-up spending in education could cost a further £1.25bn while ministers could also have to fill a £2bn hole in transport budgets, the OBR added.
Ministers will be forced to choose between squeezing budgets or raising taxes or borrowing to increase spending, putting the Government’s aim of balancing current spending by the middle of the decade at risk.
“These potential unfunded legacy costs of the pandemic represent a material risk to the public spending outlook,” the report said.
The verdict comes months before an autumn spending review and tensions between the Treasury and Downing Street over the potential £4bn cost of linking pensions to earnings.
Mr Sunak said: ”The risks discussed in today’s report underline the importance of returning our public finances to a more sustainable path over the medium term, which is why we made difficult choices at the last Budget and why this Government is committed to fiscal responsibility.”
British Land'sshare price lead losses on the FTSE 100 on Tuesday, after Jeffries warned leading real estate investment trusts face "greening" costs of between £700m and £800m.
The broker downgraded the stock to 'hold' and cut its price targets, saying the cost of doing business for both British Land and rivalLand Securitieswas rising and earnings would be dependent on de-carbonising costs.
Jeffries expects the government’s energy white paper,Powering Our Net Zero Future- which advocates for rented non-domestic buildings to meet minimum energy standards - to become law.
However around 70pc of portfolios owned by British Land and Land Securities portfolios will "fall short", Jefferies said.
Shares of British Land have dropped 12.20p to 510p and Land Securities share have also dipped 13.40p to 691.20p.
Chris Beauchamp, Chief Market Analyst at IG, comments:
Downgrades for REITs like Land Securities and British Land have seen losses for the sector, but their small weighting in the index means the effect is fairly contained, while on the flip side continued strength in oil prices after the breakdown of OPEC talks has seen Shell and BP make gains, providing a support for the FTSE 100 that has allowed it to remain relatively close to flat for the day, outperforming indices on the continent.
Martin Longmore, partner at MHA, adds:
With the temporary Stamp Duty relief reduced from 30 June 2021 and set to end in September, the big question for the residential property market is whether we will now see a lull in activity, or whether demand will continue to power ahead.The balance of probability favours any lull in demand being very short term. Low interest rates, a significant build-up of savings, improved confidence and an increase in the availability of mortgage deals should all contribute to an ongoing level of demand. As reports of shortages of both materials and labour continue in the construction sector, a lack of supply and ongoing demand means house prices will only go one way: up.However, inflation has the potential to spoil the party. General price inflation is now running at 2.1pc in May 2021, above the Bank of England’s target of 2pc and a further rise in inflation is expected in the next few months. These facts raise the prospect of higher interest rates, with the knock-on effects on mortgage prices. Should this scenario materialise, demand will be suppressed and we will likely see an end to the booming housing market.Overall there are still too many factors at play, and only time will tell which will be the most important in terms of affecting market conditions. What is clear though is that businesses need to be ready for all plausible eventualities.
Max Jones, director in Lloyds Bank’s infrastructure and construction team, said:
Contractors hope that the start of summer will see the sun shining on their fortunes, but they’re also mindful of the risks of being burned. Pent-up demand for work on commercial projects in major cities, infrastructure in the regions and housing developments across the country threaten a battle for materials that many report are in short supply. This will create pinch points and potentially push up prices, eroding margins.HS2, which will be a major driver of work in the second half of the year, will expose some of the industry’s weaknesses. With the project attracting talent and skills from all over the country, it risks exacerbating the labour shortages contractors are already grappling with, partly as a result of a smaller pool of overseas employees.Last month’s opening of the Leeds-based National Infrastructure Bank will be key to helping firms and local authorities build back greener. As with other industries, ESG is increasingly influencing boardroom decisions and tier-one contractors now recognise the need to help supply chains meet their responsibilities. There’s an expectation that firms will be laser-focused on becoming more sustainable, though in part this may be dependent on the sector being in good health.
A sharp rise in orders pushed UK construction output to a 24-year high in June, although the sector suffered from severe shortages of materials and suppliers' delivery times lengthened to a new record.
The IHS Markit/CIPS construction PMI jumped to 66.3 in June from 64.2 in May, its highest since June 1997 and above economists' forecasts.
Construction work in the house building sub-category (index at 68.2) increased at the fastest pace since November 2003. The second-best performing area was commercial work (66.9), with output rising at the strongest rate since March 1998.
Tim Moore, Economics Director at IHS Markit, said:
June data signalled another rapid increase in UK construction output as housing, commercial and civil engineering activity all expanded at a brisk pace.The headline index signalled the fastest rise in business activity across the construction sector for 24 years. Total new orders expanded at one of the strongest rates since the summer of 2007, mostly reflecting robust demand for residential projects and a boost to commercial work from the reopening UK economy.Supply chains once again struggled to keep up with demand for construction products and materials, with lead times lengthening to the greatest extent since the survey began in April 1997. Survey respondents widely reported delays due to low stocks of building materials, shortages of transport capacity and long wait times for items sourced from abroad.Purchasing prices and sub-contractor charges both increased at a survey-record pace in June, fuelled by supply shortages across the construction sector. Escalating cost pressures and concerns about labour availability appear to have constrained business optimism at some building firms.The degree of positive sentiment towards the year ahead growth outlook remained high, but eased to its lowest since the start of 2021.
Sterling has risen to its highest level in more than a week against the dollar and a 12-day high against the euro, following Britain's reopening plans for July 19.
Against the dollar, sterling has reached $1.3853 against the dollar. Against the euro, it hit its highest since June 24, at 85.52 pence.
Johnson confirmed the government aimed to end restrictive measures on July 19 - including formal limits on social contact, the instruction to work from home, and mandates to wear face masks - with a final decision to be taken next week.
"GBP is enjoying some outperformance. This may be linked to Prime Minister Boris Johnson's speech last night about fully reopening the economy and learning to live with Covid-19," ING strategists said in a note.
"Yet this link looks very fragile and even the Bank of England would admit that the final stage of reopening the economy will have little impact on economic activity."
Sterling has been among the top performing G10 currencies this year on account of Britain's quick vaccination rollout, which, analysts say has led to a quicker reopening of its economy.
However, in recent weeks those gains have evaporated as other countries catch up and as the Federal Reserve hinted an earlier than expected end to easy monetary policy, giving the dollar a boost.
British Airways has resolved legal action relating to a 2018 data breach, court-appointed solicitors said today.
They added, the terms of the agreement are confidential and those affected will receive a settlement.
British Airways, owned by IAG, revealed a breach of its security systems in 2018 that led to the leak of personal data of 420,000 staff and customers.
Brent oil has risen to $77.81 after OPEC+ ended days of talks without a deal on oil output policy, depriving the market of vital barrels as the global economic recovery gathers pace.
The alliance was close to a deal to raise daily output by 400,000 barrels between August and December. However the UAE blocked the deal, saying it would only accept the proposal if it was given better terms for calculating its quota.
The global market has tightened significantly over the past few months amid a robust rebound in fuel demand in the U.S., China and parts of Europe, draining stockpiles built up during the pandemic.
With no imminent boost to OPEC+ supply, the market is likely to tighten further and could result in Brent climbing to $80 a barrel by September, according to UBS Group AG.
“In theory, if the group keeps output unchanged in August that should be bullish for the market,” said Warren Patterson, the head of commodities strategy at ING Group NV.
“However, in reality, what is the likelihood that members actually keep output unchanged? I don’t think it’s very high.”
Ocado is the top gainer on London's FTSE 100 blue-chip index as investors focus on the company signing a new agreement for its software business.
British online grocer and technology group Ocado has jumped 3.12pc after it said it had gained Spanish grocery chain Alcampo as a new client for its robotic warehouse business, which is gaining traction abroad as grocery e-commerce booms.
Commercial landlords are weighing on the FTSE 100 today, withBritish Landdown 2.87pc andLand Securitiesdown 1.87pc as government scientists warn that "stronger" restrictions could be needed this autumn and winter.
Read more on that story here.
Sainsbury’s also said today that shopping habits are starting to return to pre-pandemic routines, with online demand was gradually reducing from peak levels during the pandemic.
Despite that, Britain’s second-largest supermarket said it now expects to generate profit of £660m ($917m) this fiscal year, up from a previous forecast of £620m and exceeding pre-Covid levels.
Sainsbury’s improved outlook comes after better-than-expected sales of grocery, clothing and general merchandise, with comparable sales rising 1.6pc in the 16 weeks to June 26.
The grocer was facing a tough comparison with last year when sales soared as people stockpiled at the start of the pandemic.
The grocer said it’s keeping a sharp eye on its competitiveness compared to rivals, and using some of the profit benefit from improved sales to lower prices, particularly in the fresh produce, meat and dairy categories.
Read more on those efforts here:Sainsbury’s cuts prices in war with Aldi and Lidl
Online grocer and technology group Ocado has said half-year losses narrowed sharply as sales surged, but revealed consumershave started returning to their pre-pandemic shopping habits as restrictions ease.
The group posted a £23.6m loss before tax for the six months to May 30, down from losses of £40.6m a year earlier on retail revenues jumping 19.8pc higher to £1.2bn.
The group said shopper basket sizes in the second quarter were 10pc lower than the average for the first half as a whole, as the reopening of hospitality saw customers eat fewer meals at home.
But it said revenues continued to rise in the second quarter thanks to a strong rise in the number of customer transactions, which helped offset the dwindling basket sizes.
Good morning. The FTSE 100 is tipped to fall after a mixed day of trading in Asia. Chinese stock markets fell while other indices around Asia-Pacific rose.
1)Morrisons must not be taken over for the 'wrong reasons', warns L&G:Shares in supermarket soar after third possible bidder emerges and major investor calls for clarity about Fortress' intentions.
2)High streets may never recover from Covid, ministers warn:If fewer people return to work permanently, there are fears that many retailers and other companies will take a heavy hit.
3)Britain's biggest microchip factory sold to Chinese-owned tech firm:Newport Wafer Fab facility in South Wales was seized by China's Nexperia for about £65m despite security concerns.
4)Jim Ratcliffe gets behind the hydrogen energy rush:Chemicals giant Ineos invests in the £250m HydrogenOne Capital Growth fund that will be listed in London.
5)California's heat dome poses unprecedented challenge:Golden state, and world's fifth largest economy, must figure out how to combat extreme weather before heatwaves bring business to a standstill.
Asian shares were mixed in muted trading on Tuesday as oil prices surged higher after a meeting of oil producing nations was postponed.
Analysts said there was little else guiding markets with the US closed for the Independence Day holiday.
Benchmarks in Japan, Australia and South Korea edged higher, while those in China declined.
Japan's benchmark Nikkei 225 edged up 0.5pc to 28,733.83. South Korea's Kospi added 0.6pc to 3,311.51. Australia's S&P/ASX 200 inched up less than 0.1pc to 7,318.30. Hong Kong's Hang Seng lost 0.5pc to 28,001.52, while the Shanghai Composite slipped 0.5pc to 3,518.55.
• Corporate:Purplebricks(Full year);Ocado, RM(Interim);J Sainsbury(Trading update)
• Economics:Construction PMI(UK),economic confidence, factory orders(Germany),retail sales, economic sentiment(EU),service PMI(US) || AI-based Trading Pool KB Crypto Going Live, Assures Minimum 5-15% ROI Every Month and Automated Payments: KB Crypto is offering a handy avenue for earning good ROI every month through its advanced AI-based trading pool.
EDMONTON, AB / ACCESSWIRE / July 5, 2021 /A next-gen trading pool is all set to redefine the investment scene with state-of-the-art technology-based trading that promises high ROI and automated payments. Titled "KB Crypto", the AI-based trading pool platform has announced to offer 5% to 15% ROI per month on a one-time investment and also referral bonus on referring more investors. The company began beta testing last year and after a year. They finally went live in March of this year.
TheKB Cryptotrading pool trades in all major markets, including forex, stock, metal and of course, crypto. The site caters to traders from the USA, Canada and also other parts of the world. The payout would be made in Bitcoin every Saturday and will be directly sent to investors BTC wallet.
"We are excited to bring to you our cutting-edge trading pool that assures handy automated ROI every week and that on just a once-in-a-lifetime investment. We leverage the right technology using proprietary software and winning strategies which enables us to comfortably share the wealth with all of our investors. Our pool platform is powered with a state-of-the-art real AI system keep the trading risk low. Every single day has received profits ever since we started testing the trading pool in May 2020 and hence we are confident of a highly prospective return on investment for the coming times as well", stated Devon Edwards, hedge fund manager and founder of KB Crypto.
KB Cryptooffers a 12-Tier Investment profile which enables traders to choose a compatible tier as per their specific needs and budget. The investment amount can range anywhere from as little as $200 to a hefty $100k and so on. The company banks on custom developed AI software to trade the capital pool. Payouts are made based on the profit of commissions gained during the trading week. Larger the pool, bigger would be the payout.
While asked about the inspiration behind KB Crypto, Devon mentioned about the typical challenges posed by manual trading and also their quest for a sustainable ROI on investment.
"Manual trading can be hard which dampens the scope for many aspiring traders. We wanted to find a trading platform that would make trading more comfortable and also more credible for all. Thus, KB Crypto was born. Our next-gen trading pool platform has combined our highly advanced proprietary custom AI software to make the trading process more convenient and accessible for all. We are backed by an expert Quantitative Analysis team that ensures an excellent return weekly with our multiple advanced portfolio management techniques."
Unique features of KB Crypto
• Latest trading pool system that trades on all major markets to produce higher profits
• Weekly payouts every Saturday
• Completely automated and instant payouts so that traders don't have to wait for days for payment
• Various range of investment options
• Completely transparent operation- traders will have full access to the company's financial accounts
• Open chat community via Telegram - Investors can interact with other investors and discuss queries or exchange views
• 3% referral bonus
For more information, please visithttps://kbcrypto.aior follow KB Crypto OnTelegram,InstagramandYouTube.
Media Contact:
Contact Person: Devon EdwardsEmail:dedwards@kbcrypto.ai
SOURCE: KB Crypto
View source version on accesswire.com:https://www.accesswire.com/654219/AI-based-Trading-Pool-KB-Crypto-Going-Live-Assures-Minimum-5-15-ROI-Every-Month-and-Automated-Payments || AI-based Trading Pool KB Crypto Going Live, Assures Minimum 5-15% ROI Every Month and Automated Payments: KB Crypto is offering a handy avenue for earning good ROI every month through its advanced AI-based trading pool. EDMONTON, AB / ACCESSWIRE / July 5, 2021 / A next-gen trading pool is all set to redefine the investment scene with state-of-the-art technology-based trading that promises high ROI and automated payments. Titled " KB Crypto ", the AI-based trading pool platform has announced to offer 5% to 15% ROI per month on a one-time investment and also referral bonus on referring more investors. The company began beta testing last year and after a year. They finally went live in March of this year. The KB Crypto trading pool trades in all major markets, including forex, stock, metal and of course, crypto. The site caters to traders from the USA, Canada and also other parts of the world. The payout would be made in Bitcoin every Saturday and will be directly sent to investors BTC wallet. "We are excited to bring to you our cutting-edge trading pool that assures handy automated ROI every week and that on just a once-in-a-lifetime investment. We leverage the right technology using proprietary software and winning strategies which enables us to comfortably share the wealth with all of our investors. Our pool platform is powered with a state-of-the-art real AI system keep the trading risk low. Every single day has received profits ever since we started testing the trading pool in May 2020 and hence we are confident of a highly prospective return on investment for the coming times as well", stated Devon Edwards, hedge fund manager and founder of KB Crypto. KB Crypto offers a 12-Tier Investment profile which enables traders to choose a compatible tier as per their specific needs and budget. The investment amount can range anywhere from as little as $200 to a hefty $100k and so on. The company banks on custom developed AI software to trade the capital pool. Payouts are made based on the profit of commissions gained during the trading week. Larger the pool, bigger would be the payout. Story continues While asked about the inspiration behind KB Crypto, Devon mentioned about the typical challenges posed by manual trading and also their quest for a sustainable ROI on investment. "Manual trading can be hard which dampens the scope for many aspiring traders. We wanted to find a trading platform that would make trading more comfortable and also more credible for all. Thus, KB Crypto was born. Our next-gen trading pool platform has combined our highly advanced proprietary custom AI software to make the trading process more convenient and accessible for all. We are backed by an expert Quantitative Analysis team that ensures an excellent return weekly with our multiple advanced portfolio management techniques." Unique features of KB Crypto Latest trading pool system that trades on all major markets to produce higher profits Weekly payouts every Saturday Completely automated and instant payouts so that traders don't have to wait for days for payment Various range of investment options Completely transparent operation- traders will have full access to the company's financial accounts Open chat community via Telegram - Investors can interact with other investors and discuss queries or exchange views 3% referral bonus For more information, please visit https://kbcrypto.ai or follow KB Crypto On Telegram , Instagram and YouTube . Media Contact: Contact Person: Devon Edwards Email: dedwards@kbcrypto.ai SOURCE : KB Crypto View source version on accesswire.com: https://www.accesswire.com/654219/AI-based-Trading-Pool-KB-Crypto-Going-Live-Assures-Minimum-5-15-ROI-Every-Month-and-Automated-Payments || Hacking gang says it has locked a million devices and wants $70m in Bitcoin to unlock them: A hacking group claims to have locked more than a million devices, demanding Bitcoin payments. (AFP via Getty Images) A hacking group suspected of being behind a major Fourth of July crime spree has said they have locked more than a million individual devices and want $70 million in bitcoin to release them. The demand, which was posted to an online blog, is believed to have been made by the core leadership of REvil, a Russia-linked cyber crime group known for hacking meatpacking company JBS, according to Reuters. The hackers first launched into their crime spree on Friday, hacking Kaseya, a Miami-based software firm helping companies manage software updates. Hundreds of companies around the world are believed to have been hit in the attack, with around a dozen countries believed to have been affected, according to cybersecurity firm ESET. According to NBC News, the group targeted individual computers and had initially asked for $45,000 to unlock each one. The Swedish grocery chain Coop is the biggest known victim, with the company forced to close most of its 800 shops on Saturday as its registers are controlled online. However, among those affected are also schools, credit unions, accountants and travel and leisure companies, Ross McKerchar, chief information security officer at Sophos Group Plc, told Reuters. The full scale and potential impact of the hacking effort is still unclear. On Sunday, the White House said it was reaching out to victims in the US to provide assistance based upon an assessment of national risk. President Joe Biden said on Sunday he has directed the full resources of the government to address the incident. Allan Liska of cybersecurity firm Recorded Future told Reuters he believed the hacking group may have bitten off more than it could chew by opting to scramble the data of so many companies all at once. He said he believed the $70 million demand was an attempt to make the best of the situation. For all of their big talk ... I think this got way out of hand, he said. Read More Meat producer JBS put $11m into the hands of its hackers. Is paying such a ransom ever justifiable? Story continues Hackers steal Electronic Arts code for FIFA, Madden, and Battlefield video games worth $28m Hacker closing out prison sentence in Chicago halfway house Former roommate of accused Capital One hacker sentenced || Hacking gang says it has locked a million devices and wants $70m in Bitcoin to unlock them: A hacking group claims to have locked more than a million devices, demanding Bitcoin payments. (AFP via Getty Images) A hacking group suspected of being behind a major Fourth of July crime spree has said they have locked more than a million individual devices and want $70 million in bitcoin to release them. The demand, which was posted to an online blog, is believed to have been made by the core leadership of REvil, a Russia-linked cyber crime group known for hacking meatpacking company JBS, according to Reuters. The hackers first launched into their crime spree on Friday, hacking Kaseya, a Miami-based software firm helping companies manage software updates. Hundreds of companies around the world are believed to have been hit in the attack, with around a dozen countries believed to have been affected, according to cybersecurity firm ESET. According to NBC News, the group targeted individual computers and had initially asked for $45,000 to unlock each one. The Swedish grocery chain Coop is the biggest known victim, with the company forced to close most of its 800 shops on Saturday as its registers are controlled online. However, among those affected are also schools, credit unions, accountants and travel and leisure companies, Ross McKerchar, chief information security officer at Sophos Group Plc, told Reuters. The full scale and potential impact of the hacking effort is still unclear. On Sunday, the White House said it was reaching out to victims in the US to provide assistance based upon an assessment of national risk. President Joe Biden said on Sunday he has directed the full resources of the government to address the incident. Allan Liska of cybersecurity firm Recorded Future told Reuters he believed the hacking group may have bitten off more than it could chew by opting to scramble the data of so many companies all at once. He said he believed the $70 million demand was an attempt to make the best of the situation. For all of their big talk ... I think this got way out of hand, he said. Read More Meat producer JBS put $11m into the hands of its hackers. Is paying such a ransom ever justifiable? Story continues Hackers steal Electronic Arts code for FIFA, Madden, and Battlefield video games worth $28m Hacker closing out prison sentence in Chicago halfway house Former roommate of accused Capital One hacker sentenced || Hacking gang says it has locked a million devices and wants $70m in Bitcoin to unlock them: A hacking group claims to have locked more than a million devices, demanding Bitcoin payments. (AFP via Getty Images) A hacking group suspected of being behind a major Fourth of July crime spree has said they have locked more than a million individual devices and want $70 million in bitcoin to release them. The demand, which was posted to an online blog, is believed to have been made by the core leadership of REvil, a Russia-linked cyber crime group known for hacking meatpacking company JBS, according to Reuters. The hackers first launched into their crime spree on Friday, hacking Kaseya, a Miami-based software firm helping companies manage software updates. Hundreds of companies around the world are believed to have been hit in the attack, with around a dozen countries believed to have been affected, according to cybersecurity firm ESET. According to NBC News, the group targeted individual computers and had initially asked for $45,000 to unlock each one. The Swedish grocery chain Coop is the biggest known victim, with the company forced to close most of its 800 shops on Saturday as its registers are controlled online. However, among those affected are also schools, credit unions, accountants and travel and leisure companies, Ross McKerchar, chief information security officer at Sophos Group Plc, told Reuters. The full scale and potential impact of the hacking effort is still unclear. On Sunday, the White House said it was reaching out to victims in the US to provide assistance based upon an assessment of national risk. President Joe Biden said on Sunday he has directed the full resources of the government to address the incident. Allan Liska of cybersecurity firm Recorded Future told Reuters he believed the hacking group may have bitten off more than it could chew by opting to scramble the data of so many companies all at once. He said he believed the $70 million demand was an attempt to make the best of the situation. For all of their big talk ... I think this got way out of hand, he said. Read More Meat producer JBS put $11m into the hands of its hackers. Is paying such a ransom ever justifiable? Story continues Hackers steal Electronic Arts code for FIFA, Madden, and Battlefield video games worth $28m Hacker closing out prison sentence in Chicago halfway house Former roommate of accused Capital One hacker sentenced || Global Blockchain Company IBC Group to Close Mining Operations in China: International Blockchain Consulting “IBC” Group have responded to the Chinese government’s clampdown on cryptocurrency by closing down all of its Bitcoin and Ethereum mining facilities across China. Large parts of the business will move to North America and South America, as well as across Europe and the Middle East. Background Founded in 2014 it spans 40 countries offering blockchain consulting on anything from ICO supports to institutional training. The group has over 1,500 employees and has worked with start-ups and established players, while also consulting governments and institutions over the past 7 years. Most recently they played a key role in the launch of Ethereum 2.0 by staking around 100,000 Ethereum. Noted crypto investor and Chairman of the IBC Group, Khurram Shroff, had the following to say on the matter. “As far as our own cryptomining operations, within the IBC Group, are concerned; we are closing down all our Bitcoin and Ethereum mining facilities across China, and moving our staff to multiple new locations globally, including UAE, Canada, USA, Kazakhstan, Iceland and various South American countries,” As part of the move staff will be relocated to the UAE, Canada, USA, Kazakhstan, Iceland, and some South American countries. China’s crypto crackdown This mass relocation of operations out of China to direct economic competitors won’t come as a shock to anyone. Since acting as a catalyst in May’s crypto crash the Chinese government and their Central Bank, The People’s Bank of China, have continued to impose restrictive regulations on cryptocurrencies. In fact, BTC China announced only last week that they would be pulling out of the Chinese market due to this new modus operandi. Bitcoin enthusiast Michael Saylor even referred to the decision by the Chinese as a trillion dollar mistake. || Global Blockchain Company IBC Group to Close Mining Operations in China: International Blockchain Consulting “IBC” Group have responded to the Chinese government’s clampdown on cryptocurrency byclosing down all of its Bitcoin and Ethereum mining facilities across China.
Large parts of the business will move to North America and South America, as well as across Europe and the Middle East.
Founded in 2014 it spans 40 countries offering blockchain consulting on anything from ICO supports to institutional training. The group has over 1,500 employees and has worked with start-ups and established players, while also consulting governments and institutions over the past 7 years.
Most recently they played a key role in thelaunch of Ethereum 2.0by staking around 100,000 Ethereum.
Noted crypto investor and Chairman of the IBC Group, Khurram Shroff, had the following to say on the matter.
“As far as our own cryptomining operations, within the IBC Group, are concerned; we are closing down all our Bitcoin and Ethereum mining facilities across China, and moving our staff to multiple new locations globally, including UAE, Canada, USA, Kazakhstan, Iceland and various South American countries,”
As part of the move staff will be relocated to the UAE, Canada, USA, Kazakhstan, Iceland, and some South American countries.
This mass relocation of operations out of China to direct economic competitors won’t come as a shock to anyone. Since acting as a catalyst inMay’s crypto crashthe Chinese government and their Central Bank, The People’s Bank of China, have continued to impose restrictive regulations on cryptocurrencies.
In fact,BTC China announcedonly last week that they would be pulling out of the Chinese market due to this new modus operandi. Bitcoin enthusiast Michael Saylor even referred to the decision by the Chinese asa trillion dollar mistake. || Opera singer says career prepared her for delivering her own baby in the car: ‘You focus on what you’re doing’: Emily Geller Hardman said her career as a opera singer helped her deliver her baby Rosemary unaided (YouTube/Emily Geller) An opera singer has claimed her career helped her deliver her own baby in the backseat of her car . Emily Geller Hardman, 35, gave birth to her daughter, Rosemary Claire, in the backseat of her car during a trip to Lancaster, Pennsylvania for a wedding, and told ABC’s Today that her extensive performing career helped her stay in the moment. “You have to perform at a high level under stress, so you’re used to those types of situations and having to focus on what you’re doing and not how you’re doing,” Ms Geller Hardman said. Ms Geller Hardman works under her maiden name of Geller and boasts a successful career as a contralto singer performing across the U.S. Her website reads, “Recent notable concert soloist work includes Mozart’s Requiem, Mendelssohn’s Elijah, Vivaldi’s Gloria, Bach’s Weihnachts-Oratorium, Duruflé’s Requiem, Britten’s Rejoice in the Lamb, and Handel’s Messiah with companies across the United States.” View this post on Instagram A post shared by Emily Geller (@emilygeller) Ms Geller Hardman believed it was fine to attend a friend’s wedding as she was just 37 weeks pregnant at the time. She outlined her plans to Today on 5 July to have “as natural birth as possible” following her first child Wesley, 3, being delivered via caesarean, something she found hard to recover from. View this post on Instagram A post shared by Emily Geller (@emilygeller) “My first was a C-section, and since then I’ve been planning and like preparing myself for a natural as possible birth,” she told Today , describing how she had planned every element. This included reading about birth and listening to podcasts. “I was very involved in the physiological birth world,” Ms Hardman said, having spent time preparing for a VBAC (vaginal birth after C-section) at a hospital in Connecticut. However, the pair were forced to drive to a hospital in Pennsylvania after she went into labour dur “At that point, once I stood up, I think gravity hit and I started bearing down. My water starts leaking again. But I knew I had to get back in the car and get to the hospital so I willed myself back into the backseat,” she said to Today. Story continues When they got into the car, she said had to “just allow her body to do what it was doing or I could fight it tooth and nail, which didn’t seem like it was going to be helpful”. View this post on Instagram A post shared by Emily Geller (@emilygeller) The only thing she had on hand to help her was an app to get her through each contraction as her husband was driving her to the hospital. “I was just riding the waves and we’re going to make it back. We still didn’t realise how fast this was going,” she recalled, going to say that her daughter “just flew out” before they could pull over on the side of the road. Ten minutes after calling an ambulance, medics appeared on the scene and took Rosemary, Mr and Ms Hardman to the nearby Saint Peter’s Hospital in New Brunswick, New Jersey. The Independent reached out to Emily Geller Hardman for comment. Read More Hacking gang says it has locked a million devices and wants $70m in Bitcoin to unlock them Miami building collapse: Rescue worker rules out likelihood of any more survivors as three more victims found Matiss Kivlenieks: Columbus Blue Jackets goalie dies fleeing hot tub in 4 July fireworks accident || Opera singer says career prepared her for delivering her own baby in the car: ‘You focus on what you’re doing’: Emily Geller Hardman said her career as a opera singer helped her deliver her baby Rosemary unaided (YouTube/Emily Geller) An opera singer has claimed her career helped her deliver her own baby in the backseat of her car . Emily Geller Hardman, 35, gave birth to her daughter, Rosemary Claire, in the backseat of her car during a trip to Lancaster, Pennsylvania for a wedding, and told ABC’s Today that her extensive performing career helped her stay in the moment. “You have to perform at a high level under stress, so you’re used to those types of situations and having to focus on what you’re doing and not how you’re doing,” Ms Geller Hardman said. Ms Geller Hardman works under her maiden name of Geller and boasts a successful career as a contralto singer performing across the U.S. Her website reads, “Recent notable concert soloist work includes Mozart’s Requiem, Mendelssohn’s Elijah, Vivaldi’s Gloria, Bach’s Weihnachts-Oratorium, Duruflé’s Requiem, Britten’s Rejoice in the Lamb, and Handel’s Messiah with companies across the United States.” View this post on Instagram A post shared by Emily Geller (@emilygeller) Ms Geller Hardman believed it was fine to attend a friend’s wedding as she was just 37 weeks pregnant at the time. She outlined her plans to Today on 5 July to have “as natural birth as possible” following her first child Wesley, 3, being delivered via caesarean, something she found hard to recover from. View this post on Instagram A post shared by Emily Geller (@emilygeller) “My first was a C-section, and since then I’ve been planning and like preparing myself for a natural as possible birth,” she told Today , describing how she had planned every element. This included reading about birth and listening to podcasts. “I was very involved in the physiological birth world,” Ms Hardman said, having spent time preparing for a VBAC (vaginal birth after C-section) at a hospital in Connecticut. However, the pair were forced to drive to a hospital in Pennsylvania after she went into labour dur “At that point, once I stood up, I think gravity hit and I started bearing down. My water starts leaking again. But I knew I had to get back in the car and get to the hospital so I willed myself back into the backseat,” she said to Today. Story continues When they got into the car, she said had to “just allow her body to do what it was doing or I could fight it tooth and nail, which didn’t seem like it was going to be helpful”. View this post on Instagram A post shared by Emily Geller (@emilygeller) The only thing she had on hand to help her was an app to get her through each contraction as her husband was driving her to the hospital. “I was just riding the waves and we’re going to make it back. We still didn’t realise how fast this was going,” she recalled, going to say that her daughter “just flew out” before they could pull over on the side of the road. Ten minutes after calling an ambulance, medics appeared on the scene and took Rosemary, Mr and Ms Hardman to the nearby Saint Peter’s Hospital in New Brunswick, New Jersey. The Independent reached out to Emily Geller Hardman for comment. Read More Hacking gang says it has locked a million devices and wants $70m in Bitcoin to unlock them Miami building collapse: Rescue worker rules out likelihood of any more survivors as three more victims found Matiss Kivlenieks: Columbus Blue Jackets goalie dies fleeing hot tub in 4 July fireworks accident || Hacking gang says it has locked a million devices and wants $70m in Bitcoin to unlock them: A hacking group claims to have locked more than a million devices, demanding Bitcoin payments. (AFP via Getty Images) A hacking group behind a major Fourth of July crime spree has said they have locked more than a million individual devices and want $70 million in bitcoin to release them. Known as REvil, a Russia -connected hacking gang , the group reportedly first began its crime spree on Friday, hacking Kaseya, a software firm helping companies manage software updates. According to NBC News, the group targeted individual computers and initially asked for $45,000 to unlock each one. The Swedish grocery chain Coop is the biggest known victim, with the company forced to close most of its 800 shops on Saturday as its registers are controlled online. President Joe Biden said on Sunday he has directed the full resources of the government to address the incident. More to come... Read More Miami building collapse: Rescue worker rules out likelihood of any more survivors as three more victims found Matiss Kivlenieks: Columbus Blue Jackets goalie dies fleeing hot tub in 4 July fireworks accident I know Im lucky: 88 year old has tearful reunion with neighbour who carried her out of collapsing condo || Hacking gang says it has locked a million devices and wants $70m in Bitcoin to unlock them: A hacking group claims to have locked more than a million devices, demanding Bitcoin payments. (AFP via Getty Images) A hacking group behind a major Fourth of July crime spree has said they have locked more than a million individual devices and want $70 million in bitcoin to release them. Known as REvil, a Russia -connected hacking gang , the group reportedly first began its crime spree on Friday, hacking Kaseya, a software firm helping companies manage software updates. According to NBC News, the group targeted individual computers and initially asked for $45,000 to unlock each one. The Swedish grocery chain Coop is the biggest known victim, with the company forced to close most of its 800 shops on Saturday as its registers are controlled online. President Joe Biden said on Sunday he has directed the full resources of the government to address the incident. More to come... Read More Miami building collapse: Rescue worker rules out likelihood of any more survivors as three more victims found Matiss Kivlenieks: Columbus Blue Jackets goalie dies fleeing hot tub in 4 July fireworks accident I know Im lucky: 88 year old has tearful reunion with neighbour who carried her out of collapsing condo || Hacking gang says it has locked a million devices and wants $70m in Bitcoin to unlock them: A hacking group claims to have locked more than a million devices, demanding Bitcoin payments. (AFP via Getty Images) A hacking group behind a major Fourth of July crime spree has said they have locked more than a million individual devices and want $70 million in bitcoin to release them. Known as REvil, a Russia -connected hacking gang , the group reportedly first began its crime spree on Friday, hacking Kaseya, a software firm helping companies manage software updates. According to NBC News, the group targeted individual computers and initially asked for $45,000 to unlock each one. The Swedish grocery chain Coop is the biggest known victim, with the company forced to close most of its 800 shops on Saturday as its registers are controlled online. President Joe Biden said on Sunday he has directed the full resources of the government to address the incident. More to come... Read More Miami building collapse: Rescue worker rules out likelihood of any more survivors as three more victims found Matiss Kivlenieks: Columbus Blue Jackets goalie dies fleeing hot tub in 4 July fireworks accident I know Im lucky: 88 year old has tearful reunion with neighbour who carried her out of collapsing condo || Bitcoin Stock-to-Flow Model, Rooted in Hard Money Narrative, Goes Off Course: One of the most widely used charts for predicting massive future bitcoin price gains is showing the largest divergence since January 2019. The bitcoin stock-to-flow model currently suggests the price of bitcoin should be around $77,900. But as of Monday, the cryptocurrency was trading at $33,668, well off the all-time high price of $64,829 reached in April. Crypto analyst PlanB, who has been documenting his stock-to-flow model since March 2019, tweeted that BTC/USD is now the furthest away from the estimated value in more than two years. Related: Bitcoin Rangebound at Support; Resistance at $36K He said the next six months will make or break the stock-to-flow model. The stock-to-flow model is generally applied to natural resources such as gold or silver. The commodities are often referred to as store of value resources that, in theory, should retain their value over the long term due to their scarcity and low flow. The idea is that low supply makes the metals more like hard money contrasted with the dollar. This is an especially harsh juxtaposition as the Federal Reserve has printed more than $4 trillion in fresh dollars since the coronavirus pandemic hit in March 2020; thats the same amount the U.S. central bank had previously created since it was established early in the last century. Bitcoin, sometimes touted by proponents as digital gold, is treated as if it were a scarce commodity for the purposes of the model. Bitcoin is costly to produce and considered scarce, as its maximum supply is capped at 21 million coins. Related: Bitcoin Trims Gains as PBOC Steps Up Crypto Crackdown The cryptocurrency also undergoes bitcoin halvings where the number of bitcoins entering the system with every new data block every 10 minutes or so on average gets cut in half. These halvings take place roughly every four years. Bitcoin has limited supply, which is great and well known, said Charles Morris, founder of ByteTree Asset Management. As supply is cemented, the price can only be driven by demand. Story continues In the past, the bitcoin stock-to-flow model has been used to forecast future BTC price action. Pantera Capital, a hedge fund that specializes in cryptocurrencies, predicted in April 2020 that bitcoin could rise to $115,000 by August this year, using this model. PlanB wrote in a blog post in April 2020 that the price of bitcoin could hit $288,000 by 2024, citing the stock-to-flow model. According to the models projections, bitcoins price should see a significant increase over time due to its continually reduced stock-to-flow ratio, said Binance Academy in a blog post . Its worth noting the model relies heavily on the assumption that the scarcity of the cryptocurrency should drive value, which might not always be the case. Thats especially true because of the notoriously volatile short-term swings in the bitcoin price. The stock-to-flow model was created on the back of two halving events, Morris said. I agree, with some caution, that halving may boost the price by roughly two times as miner selling pressure halves, but the notion the future price path is assured multiples beyond this is ridiculous. Related Stories UBS Says Regulatory Crackdown Could Pop Bubble-Like Crypto Markets: Report Brazils Bitcoin Banco Group and Leader Arrested for Alleged Embezzlement of $300M in Crypto || Bitcoin Stock-to-Flow Model, Rooted in ‘Hard Money’ Narrative, Goes Off Course: One of the most widely used charts for predicting massive futurebitcoinprice gains is showing the largest divergence since January 2019.
The bitcoin stock-to-flow model currentlysuggeststhe price of bitcoin should be around $77,900. But as of Monday, the cryptocurrency was trading at $33,668, well off the all-time high price of $64,829 reached in April.
Crypto analyst “PlanB,” who has been documenting hisstock-to-flowmodel since March 2019,tweetedthat BTC/USD is now the furthest away from the estimated value in more than two years.
Related:Bitcoin Rangebound at Support; Resistance at $36K
He said the next six months will “make or break” the stock-to-flow model.
The stock-to-flowmodelis generally applied to natural resources such as gold or silver. The commodities are often referred to as “store of value” resources that, in theory, should retain their value over the long term due to their scarcity and low flow.
The idea is that low supply makes the metals more like “hard money” – contrasted with the dollar. This is an especially harsh juxtaposition as the Federal Reserve has printed more than $4 trillion in fresh dollars since the coronavirus pandemic hit in March 2020; that’s the same amount the U.S. central bank had previously created since it was established early in the last century.
Bitcoin, sometimes touted by proponents as “digital gold,” is treated as if it were a scarce commodity for the purposes of the model. Bitcoin is costly to produce and considered scarce, as its maximum supply is capped at 21 million coins.
Related:Bitcoin Trims Gains as PBOC Steps Up Crypto Crackdown
The cryptocurrency also undergoes “bitcoin halvings” where the number of bitcoins entering the system with every new data block – every 10 minutes or so on average – gets cut in half. These halvings take place roughly every four years.
“Bitcoin has limited supply, which is great and well known,” said Charles Morris, founder of ByteTree Asset Management. “As supply is cemented, the price can only be driven by demand.”
In the past, the bitcoin stock-to-flow model has been used to forecast future BTC price action. Pantera Capital, a hedge fund that specializes in cryptocurrencies, predicted in April2020that bitcoin could rise to $115,000 by August this year, using this model.
PlanB wrote in a blogpostin April 2020 that the price of bitcoin could hit $288,000 by 2024, citing the stock-to-flow model.
“According to the model’s projections, bitcoin’s price should see a significant increase over time due to its continually reduced stock-to-flow ratio,” said Binance Academy in a blogpost.
It’s worth noting the model relies heavily on the assumption that the scarcity of the cryptocurrency should drive value, which might not always be the case. That’s especially true because of the notoriously volatile short-term swings in the bitcoin price.
“The stock-to-flow model was created on the back of two halving events,” Morris said. “I agree, with some caution, that halving may boost the price by roughly two times as miner selling pressure halves, but the notion the future price path is assured multiples beyond this is ridiculous.”
• UBS Says Regulatory Crackdown Could Pop ‘Bubble-Like Crypto Markets’: Report
• Brazil’s Bitcoin Banco Group and Leader Arrested for Alleged Embezzlement of $300M in Crypto || Bitcoin Stock-to-Flow Model, Rooted in ‘Hard Money’ Narrative, Goes Off Course: One of the most widely used charts for predicting massive futurebitcoinprice gains is showing the largest divergence since January 2019.
The bitcoin stock-to-flow model currentlysuggeststhe price of bitcoin should be around $77,900. But as of Monday, the cryptocurrency was trading at $33,668, well off the all-time high price of $64,829 reached in April.
Crypto analyst “PlanB,” who has been documenting hisstock-to-flowmodel since March 2019,tweetedthat BTC/USD is now the furthest away from the estimated value in more than two years.
Related:Bitcoin Rangebound at Support; Resistance at $36K
He said the next six months will “make or break” the stock-to-flow model.
The stock-to-flowmodelis generally applied to natural resources such as gold or silver. The commodities are often referred to as “store of value” resources that, in theory, should retain their value over the long term due to their scarcity and low flow.
The idea is that low supply makes the metals more like “hard money” – contrasted with the dollar. This is an especially harsh juxtaposition as the Federal Reserve has printed more than $4 trillion in fresh dollars since the coronavirus pandemic hit in March 2020; that’s the same amount the U.S. central bank had previously created since it was established early in the last century.
Bitcoin, sometimes touted by proponents as “digital gold,” is treated as if it were a scarce commodity for the purposes of the model. Bitcoin is costly to produce and considered scarce, as its maximum supply is capped at 21 million coins.
Related:Bitcoin Trims Gains as PBOC Steps Up Crypto Crackdown
The cryptocurrency also undergoes “bitcoin halvings” where the number of bitcoins entering the system with every new data block – every 10 minutes or so on average – gets cut in half. These halvings take place roughly every four years.
“Bitcoin has limited supply, which is great and well known,” said Charles Morris, founder of ByteTree Asset Management. “As supply is cemented, the price can only be driven by demand.”
In the past, the bitcoin stock-to-flow model has been used to forecast future BTC price action. Pantera Capital, a hedge fund that specializes in cryptocurrencies, predicted in April2020that bitcoin could rise to $115,000 by August this year, using this model.
PlanB wrote in a blogpostin April 2020 that the price of bitcoin could hit $288,000 by 2024, citing the stock-to-flow model.
“According to the model’s projections, bitcoin’s price should see a significant increase over time due to its continually reduced stock-to-flow ratio,” said Binance Academy in a blogpost.
It’s worth noting the model relies heavily on the assumption that the scarcity of the cryptocurrency should drive value, which might not always be the case. That’s especially true because of the notoriously volatile short-term swings in the bitcoin price.
“The stock-to-flow model was created on the back of two halving events,” Morris said. “I agree, with some caution, that halving may boost the price by roughly two times as miner selling pressure halves, but the notion the future price path is assured multiples beyond this is ridiculous.”
• UBS Says Regulatory Crackdown Could Pop ‘Bubble-Like Crypto Markets’: Report
• Brazil’s Bitcoin Banco Group and Leader Arrested for Alleged Embezzlement of $300M in Crypto || Coinbase to Woo India Recruits With $1,000 in Crypto: Coinbase is looking to hire “hundreds” of recruits for its new hub in India, and is offering an incentive of $1,000 in crypto. The aim is for recruits to “leverage this offering to learn about crypto,” Pankaj Gupta, VP of engineering and site lead in India, said a blog post Friday. The exchange is looking to tap the country’s “world class community” of engineers, tech builders and entrepreneurs, Gupta wrote. The company wants to “hire hundreds of world class engineers in the near term” to fill its Indian outpost, which currently has 20 different openings listed . In March, Coinbase announced its plans to open a hub in Hyderabad, India in the face of the possibility of a ban on crypto in the country. Even if an outright ban were to be passed into legislation by the Indian government – a possibility that appears to have diminished of late – it is likely that Coinbase’s plans there would not be affected if operations center around engineering and software development. Related Stories Tech Mahindra Joins StaTwig in Global Vaccine-Tracing Blockchain Market Wrap: Bitcoin Rangebound Into the Weekend, Lags Crypto Stocks Fed’s Powell May Have Met With Coinbase CEO in May Coinbase Gives Institutional Customers Access to More Fiat Trading Pairs || Coinbase to Woo India Recruits With $1,000 in Crypto: Coinbase is looking to hire “hundreds” of recruits for its new hub in India, and is offering an incentive of $1,000 in crypto.
• The aim is for recruits to “leverage this offering to learn about crypto,” Pankaj Gupta, VP of engineering and site lead in India,saida blog post Friday.
• The exchange is looking to tap the country’s “world class community” of engineers, tech builders and entrepreneurs, Gupta wrote.
• The company wants to “hire hundreds of world class engineers in the near term” to fill its Indian outpost, which currently has 20 different openingslisted.
• In March, Coinbaseannouncedits plans to open a hub in Hyderabad, India in the face of the possibility of a ban on crypto in the country.
• Even if an outright ban were to be passed into legislation by the Indian government – a possibility that appears to havediminishedof late – it is likely that Coinbase’s plans there would not be affected if operations center around engineering and software development.
• Tech Mahindra Joins StaTwig in Global Vaccine-Tracing Blockchain
• Market Wrap: Bitcoin Rangebound Into the Weekend, Lags Crypto Stocks
• Fed’s Powell May Have Met With Coinbase CEO in May
• Coinbase Gives Institutional Customers Access to More Fiat Trading Pairs
[Social Media Buzz]
None available.
|
33855.33, 32877.37, 33798.01, 33520.52, 34240.19, 33155.85, 32702.03, 32822.35, 31780.73, 31421.54
|
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 7633.76, 7653.98, 7678.24, 7624.92, 7531.98, 6786.02, 6906.92, 6582.36, 6349.90, 6675.35, 6456.58, 6550.16, 6499.27, 6734.82, 6769.94, 6776.55, 6729.74, 6083.69, 6162.48, 6173.23, 6249.18, 6093.67, 6157.13, 5903.44, 6218.30, 6404.00, 6385.82, 6614.18, 6529.59, 6597.55, 6639.14, 6673.50, 6856.93, 6773.88, 6741.75, 6329.95, 6394.71, 6228.81, 6238.05, 6276.12, 6359.64, 6741.75, 7321.04, 7370.78, 7466.86, 7354.13, 7419.29, 7418.49, 7711.11, 8424.27, 8181.39, 7951.58, 8165.01, 8192.15, 8218.46, 8180.48, 7780.44, 7624.91, 7567.15, 7434.39, 7032.85, 7068.48, 6951.80, 6753.12, 6305.80, 6568.23, 6184.71, 6295.73, 6322.69, 6297.57, 6199.71, 6308.52, 6334.73, 6580.63, 6423.76, 6506.07, 6308.53, 6488.76, 6376.71, 6534.88, 6719.96, 6763.19, 6707.26, 6884.64, 7096.28, 7047.16, 6978.23, 7037.58, 7193.25, 7272.72.
|
[Bitcoin Technical Analysis for 2018-09-02]
Volume: 4329540000, RSI (14-day): 62.32, 50-day EMA: 6897.61, 200-day EMA: 7590.90
[Wider Market Context]
None available.
[Recent News (last 7 days)]
Clear-Headed Response to Crypto ETF Rejections Drove Bitcoin Price to $7,100: Analyst: What’s behind therecent bitcoin rally price to $7,100? Michael Moro, CEO ofGenesis Tradingand Genesis Capital, thinks the market’s stable reaction to the SEC’s ETF rejections last week played a big role.
Interviewed onCNBC, Moro noted that the selloff that has greeted SEC rejections in the past did not materialize.
The important question now, he said, is how long the $7,100 price level holds.
If the $7,100 price holds for one or two weeks, the bulls will return, he said, and $10,000 is a likely possibility. The bulls are waiting to see if the $7,100 price holds. Asked what will move bitcoin to $10,000, Moro said slow and steady growth will be needed, along with volume.
“What you need to see is the less violent moves of 5% up, 10% up, and a slow and steady growth across the exchanges,” Moro said.“What I also think is important is I think the market now understands that the SEC’s ETF approval isn’t any time soon.”
“I think the bears have realized that they’ve run out of steam,” he added. In addition, on the spot trading side, there were very few sellers around the $6,000 level.
Moro finds it interesting that every time the bitcoin price pops, some people start to sell.
“It’s folks who have managed to scoop up the dip and are selling at the next pop,” he said. “The question is, are the bulls here to stay?” He said a strong buy side demand has yet to materialize. One question is whether the market returns to the $6,000 level because the bulls are still waiting to see if $7,100 price holds.
Also read:Bitcoin price climbs to $7,100, as crypto market hits $232 billion, EOS surges 15%
Speaking to Moro’s point about the need for volume trading, CNBC’s Bob Pisani pointed out thatCMEbitcoin futures volumes have doubled, which he attributed to the activity of institutions.
“What’s important here is that the increase in futures volume on CME has occurred while bitcoin went from $6,000 in June to over $8,000 in July and then all the way back down to about $6,000,” Pisani said. “It means that at least some traders are perfectly willing to trade bitcoin for futures on the way up, and also on the way down. It seems like a more active market out there.”
Trading volume has been flat for the much smaller CBOE and on spot markets such as Coinbase.
Featured Image from Shutterstock
The postClear-Headed Response to Crypto ETF Rejections Drove Bitcoin Price to $7,100: Analystappeared first onCCN. || Clear-Headed Response to Crypto ETF Rejections Drove Bitcoin Price to $7,100: Analyst: bitcoin price turns bullish What’s behind the recent bitcoin rally price to $7,100 ? Michael Moro, CEO of Genesis Trading and Genesis Capital, thinks the market’s stable reaction to the SEC’s ETF rejections last week played a big role. Interviewed on CNBC , Moro noted that the selloff that has greeted SEC rejections in the past did not materialize. The important question now, he said, is how long the $7,100 price level holds. Bitcoin Price Analysis: Waiting For The Bulls bitcoin price If the $7,100 price holds for one or two weeks, the bulls will return, he said, and $10,000 is a likely possibility. The bulls are waiting to see if the $7,100 price holds. Asked what will move bitcoin to $10,000, Moro said slow and steady growth will be needed, along with volume. “What you need to see is the less violent moves of 5% up, 10% up, and a slow and steady growth across the exchanges,” Moro said.“What I also think is important is I think the market now understands that the SEC’s ETF approval isn’t any time soon.” “I think the bears have realized that they’ve run out of steam,” he added. In addition, on the spot trading side, there were very few sellers around the $6,000 level. Moro finds it interesting that every time the bitcoin price pops, some people start to sell. “It’s folks who have managed to scoop up the dip and are selling at the next pop,” he said. “The question is, are the bulls here to stay?” He said a strong buy side demand has yet to materialize. One question is whether the market returns to the $6,000 level because the bulls are still waiting to see if $7,100 price holds. Also read: Bitcoin price climbs to $7,100, as crypto market hits $232 billion, EOS surges 15% CME Bitcoin Futures Volume Doubles Speaking to Moro’s point about the need for volume trading, CNBC’s Bob Pisani pointed out that CME bitcoin futures volumes have doubled, which he attributed to the activity of institutions. “What’s important here is that the increase in futures volume on CME has occurred while bitcoin went from $6,000 in June to over $8,000 in July and then all the way back down to about $6,000,” Pisani said. “It means that at least some traders are perfectly willing to trade bitcoin for futures on the way up, and also on the way down. It seems like a more active market out there.” Story continues Trading volume has been flat for the much smaller CBOE and on spot markets such as Coinbase. Featured Image from Shutterstock The post Clear-Headed Response to Crypto ETF Rejections Drove Bitcoin Price to $7,100: Analyst appeared first on CCN . || Clear-Headed Response to Crypto ETF Rejections Drove Bitcoin Price to $7,100: Analyst: What’s behind therecent bitcoin rally price to $7,100? Michael Moro, CEO ofGenesis Tradingand Genesis Capital, thinks the market’s stable reaction to the SEC’s ETF rejections last week played a big role.
Interviewed onCNBC, Moro noted that the selloff that has greeted SEC rejections in the past did not materialize.
The important question now, he said, is how long the $7,100 price level holds.
If the $7,100 price holds for one or two weeks, the bulls will return, he said, and $10,000 is a likely possibility. The bulls are waiting to see if the $7,100 price holds. Asked what will move bitcoin to $10,000, Moro said slow and steady growth will be needed, along with volume.
“What you need to see is the less violent moves of 5% up, 10% up, and a slow and steady growth across the exchanges,” Moro said.“What I also think is important is I think the market now understands that the SEC’s ETF approval isn’t any time soon.”
“I think the bears have realized that they’ve run out of steam,” he added. In addition, on the spot trading side, there were very few sellers around the $6,000 level.
Moro finds it interesting that every time the bitcoin price pops, some people start to sell.
“It’s folks who have managed to scoop up the dip and are selling at the next pop,” he said. “The question is, are the bulls here to stay?” He said a strong buy side demand has yet to materialize. One question is whether the market returns to the $6,000 level because the bulls are still waiting to see if $7,100 price holds.
Also read:Bitcoin price climbs to $7,100, as crypto market hits $232 billion, EOS surges 15%
Speaking to Moro’s point about the need for volume trading, CNBC’s Bob Pisani pointed out thatCMEbitcoin futures volumes have doubled, which he attributed to the activity of institutions.
“What’s important here is that the increase in futures volume on CME has occurred while bitcoin went from $6,000 in June to over $8,000 in July and then all the way back down to about $6,000,” Pisani said. “It means that at least some traders are perfectly willing to trade bitcoin for futures on the way up, and also on the way down. It seems like a more active market out there.”
Trading volume has been flat for the much smaller CBOE and on spot markets such as Coinbase.
Featured Image from Shutterstock
The postClear-Headed Response to Crypto ETF Rejections Drove Bitcoin Price to $7,100: Analystappeared first onCCN. || Op-ed: How to Turn Your Bitcoin and Crypto Losses into Tax Savings: bitcoin cryptocurrency tax IRS Bitcoin and crypto losses can be used to offset other types of capital gains for tax purposes and therefore save you money. This article addresses how to handle your losses and the important items that you need to keep in mind for your crypto taxes in the US. Losses on crypto and Bitcoin trades offset other capital gains For tax purposes, selling cryptocurrency is treated the same as selling any other type of capital asset — stocks, bonds, property etc. This means that you realize either a capital gain or a capital loss anytime you sell Bitcoin or any other crypto. When you realize a capital gain (you sold your crypto for more than you purchased it for), you owe a tax on the dollar amount of the gain. However, when you sell your crypto for less than you purchased it for, you incur a capital loss, and you can use this loss to offset gains from other trades or even a gain from the sale of other property like your stocks in your portfolio. Unfortunately in the crypto landscape we are currently experiencing, there are plenty of losses to go around, and it is wise to file these capital losses in order to reduce your taxable income and save money. Net capital losses up to $3,000 can be deducted against other types of income Whenever your total capital gains and losses for the year add up to a negative number, you incur a net capital loss. If the net capital loss is less than or equal to $3,000 ($1,500 if you are married and filing a separate tax return), then that entire capital loss can be used to offset other types of income–like the income from your job. If your losses exceed $3,000, then the amount over $3,000 will be rolled forward to the next tax year. What does this look like in real life? Let’s go through an example to paint a clear picture. Let’s say you started 2018 doing really well as a crypto trader. You made $5,000 trading Bitcoin and Ethereum. Once August rolled around and the markets took a turn for the worse, you got hit hard and the value of your portfolio dropped significantly. You ended up selling out of all of your positions and took a $7,000 loss. From here, you would be able to harvest a $2,000 loss for the year. This loss would be deducted from your taxable income for the year. Let’s say you made $50,000 on the year in income. With this loss, only $48,000 of that income would be taxable. Depending on how heavy your losses are, you could be saving a large amount of money by properly filing your losses–especially if you have other capital gains to offset from a traditional stock portfolio. Story continues The IRS Form 8949 IRS bitcoin To get more detailed on how to report this crypto on your taxes, you would need to report each trade that you made on the IRS form 8949 , Sales and Dispositions of other Capital Assets. For every trade that you made during the year, you list the amount of crypto traded, the price traded at, the date traded, the cost basis for the trade, and the capital gain or loss that occurred. Continue to list every trade from the year on this form and total up the net losses at the bottom, they should be equal to $2,000. What if I made a ton of trades during the year? A lot of crypto enthusiasts trade quite often. If you haven’t been keeping a record of the dates of your trades, the dollar value amounts that you bought and sold your crypto for, and the capital gains/losses from those trades, this reporting process, and creating your 8949 form can become a huge headache. If this is a scenario that you are faced with it could be worthwhile to leverage crypto tax software to automatically create your 8949 for you. Be wary of expensive “Crypto Accountants” A lot of traders are turning to expensive “crypto accountants” to create their 8949’s for them and to handle this whole tax reporting process. While having a good CPA is important, most of the CPA firms are simply using these same automated crypto tax services to do the intense calculations and then charging the customer a whole lot more on the other end. Do your research before forking over hundreds of dollars. One money-saving option is to do your crypto gains and losses calculations yourself, and then give this data over to your traditional CPA or upload it to a site like TurboTax. This way you are dodging the expensive and unnecessary “crypto accountant” piece of the equation. Once you have your total capital gains and losses added together on the form 8949, you transfer the total amount onto your 1040 Schedule D . Ideally you are a wizard of a crypto trader, and you won’t have to harvest any losses from your trading activity. However, if you have losses, be sure you are at least taking advantage of them and saving money where you can. About the Author : David Kemmerer is the Co-Founder of CryptoTrader.Tax , a cryptocurrency tax service that automates your capital gains and losses reporting. Contact him at david@cryptotrader.tax or follow him on Twitter @David_Kemmerer . Images from Shutterstock The post Op-ed: How to Turn Your Bitcoin and Crypto Losses into Tax Savings appeared first on CCN . || Op-ed: How to Turn Your Bitcoin and Crypto Losses into Tax Savings: Bitcoin and crypto losses can be used to offset other types of capital gains for tax purposes and therefore save you money. This article addresses how to handle your losses and the important items that you need to keep in mind for your crypto taxes in the US.
For tax purposes, selling cryptocurrency is treated the same as selling any other type of capital asset — stocks, bonds, property etc. This means that you realize either acapital gainor a capital loss anytime you sell Bitcoin or any other crypto. When you realize a capital gain (you sold your crypto for more than you purchased it for), you owe a tax on the dollar amount of the gain. However, when you sell your crypto for less than you purchased it for, you incur a capital loss, and you can use this loss to offset gains from other trades or even a gain from the sale of other property like your stocks in your portfolio.
Unfortunately in the crypto landscape we are currently experiencing, there are plenty of losses to go around, and it is wise to file these capital losses in order to reduce your taxable income and save money.
Whenever your total capital gains and losses for the year add up to a negative number, you incur a net capital loss. If thenet capital lossis less than or equal to $3,000 ($1,500 if you are married and filing a separate tax return), then that entire capital loss can be used to offset other types of income–like the income from your job.
If your losses exceed $3,000, then the amount over $3,000 will be rolled forward to the next tax year.
Let’s go through an example to paint a clear picture.
Let’s say you started 2018 doing really well as a crypto trader. You made $5,000 trading Bitcoin and Ethereum. Once August rolled around and the markets took a turn for the worse, you got hit hard and the value of your portfolio dropped significantly. You ended up selling out of all of your positions and took a $7,000 loss. From here, you would be able to harvest a $2,000 loss for the year. This loss would be deducted from your taxable income for the year. Let’s say you made $50,000 on the year in income. With this loss, only $48,000 of that income would be taxable. Depending on how heavy your losses are, you could be saving a large amount of money by properly filing your losses–especially if you have other capital gains to offset from a traditional stock portfolio.
To get more detailed on how to report this crypto on your taxes, you would need to report each trade that you made on theIRS form 8949, Sales and Dispositions of other Capital Assets. For every trade that you made during the year, you list the amount of crypto traded, the price traded at, the date traded, the cost basis for the trade, and the capital gain or loss that occurred. Continue to list every trade from the year on this form and total up the net losses at the bottom, they should be equal to $2,000.
A lot of crypto enthusiasts trade quite often. If you haven’t been keeping a record of the dates of your trades, the dollar value amounts that you bought and sold your crypto for, and the capital gains/losses from those trades, this reporting process, and creating your 8949 form can become a huge headache. If this is a scenario that you are faced with it could be worthwhile to leverage crypto tax software to automatically create your 8949 for you.
A lot of traders are turning to expensive “crypto accountants” to create their 8949’s for them and to handle this whole tax reporting process. While having a good CPA is important, most of the CPA firms are simply using these same automated crypto tax services to do the intense calculations and then charging the customer a whole lot more on the other end. Do your research before forking over hundreds of dollars. One money-saving option is to do your crypto gains and losses calculations yourself, and then give this data over to your traditional CPA or upload it to a site like TurboTax. This way you are dodging the expensive and unnecessary “crypto accountant” piece of the equation.
Once you have your total capital gains and losses added together on the form 8949, you transfer the total amount onto your1040 Schedule D.
Ideally you are a wizard of a crypto trader, and you won’t have to harvest any losses from your trading activity. However, if you have losses, be sure you are at least taking advantage of them and saving money where you can.
About the Author: David Kemmerer is the Co-Founder ofCryptoTrader.Tax, a cryptocurrency tax service that automates your capital gains and losses reporting. Contact him at david@cryptotrader.tax or follow him on Twitter@David_Kemmerer.
Images from Shutterstock
The postOp-ed: How to Turn Your Bitcoin and Crypto Losses into Tax Savingsappeared first onCCN. || Op-ed: How to Turn Your Bitcoin and Crypto Losses into Tax Savings: Bitcoin and crypto losses can be used to offset other types of capital gains for tax purposes and therefore save you money. This article addresses how to handle your losses and the important items that you need to keep in mind for your crypto taxes in the US.
For tax purposes, selling cryptocurrency is treated the same as selling any other type of capital asset — stocks, bonds, property etc. This means that you realize either acapital gainor a capital loss anytime you sell Bitcoin or any other crypto. When you realize a capital gain (you sold your crypto for more than you purchased it for), you owe a tax on the dollar amount of the gain. However, when you sell your crypto for less than you purchased it for, you incur a capital loss, and you can use this loss to offset gains from other trades or even a gain from the sale of other property like your stocks in your portfolio.
Unfortunately in the crypto landscape we are currently experiencing, there are plenty of losses to go around, and it is wise to file these capital losses in order to reduce your taxable income and save money.
Whenever your total capital gains and losses for the year add up to a negative number, you incur a net capital loss. If thenet capital lossis less than or equal to $3,000 ($1,500 if you are married and filing a separate tax return), then that entire capital loss can be used to offset other types of income–like the income from your job.
If your losses exceed $3,000, then the amount over $3,000 will be rolled forward to the next tax year.
Let’s go through an example to paint a clear picture.
Let’s say you started 2018 doing really well as a crypto trader. You made $5,000 trading Bitcoin and Ethereum. Once August rolled around and the markets took a turn for the worse, you got hit hard and the value of your portfolio dropped significantly. You ended up selling out of all of your positions and took a $7,000 loss. From here, you would be able to harvest a $2,000 loss for the year. This loss would be deducted from your taxable income for the year. Let’s say you made $50,000 on the year in income. With this loss, only $48,000 of that income would be taxable. Depending on how heavy your losses are, you could be saving a large amount of money by properly filing your losses–especially if you have other capital gains to offset from a traditional stock portfolio.
To get more detailed on how to report this crypto on your taxes, you would need to report each trade that you made on theIRS form 8949, Sales and Dispositions of other Capital Assets. For every trade that you made during the year, you list the amount of crypto traded, the price traded at, the date traded, the cost basis for the trade, and the capital gain or loss that occurred. Continue to list every trade from the year on this form and total up the net losses at the bottom, they should be equal to $2,000.
A lot of crypto enthusiasts trade quite often. If you haven’t been keeping a record of the dates of your trades, the dollar value amounts that you bought and sold your crypto for, and the capital gains/losses from those trades, this reporting process, and creating your 8949 form can become a huge headache. If this is a scenario that you are faced with it could be worthwhile to leverage crypto tax software to automatically create your 8949 for you.
A lot of traders are turning to expensive “crypto accountants” to create their 8949’s for them and to handle this whole tax reporting process. While having a good CPA is important, most of the CPA firms are simply using these same automated crypto tax services to do the intense calculations and then charging the customer a whole lot more on the other end. Do your research before forking over hundreds of dollars. One money-saving option is to do your crypto gains and losses calculations yourself, and then give this data over to your traditional CPA or upload it to a site like TurboTax. This way you are dodging the expensive and unnecessary “crypto accountant” piece of the equation.
Once you have your total capital gains and losses added together on the form 8949, you transfer the total amount onto your1040 Schedule D.
Ideally you are a wizard of a crypto trader, and you won’t have to harvest any losses from your trading activity. However, if you have losses, be sure you are at least taking advantage of them and saving money where you can.
About the Author: David Kemmerer is the Co-Founder ofCryptoTrader.Tax, a cryptocurrency tax service that automates your capital gains and losses reporting. Contact him at david@cryptotrader.tax or follow him on Twitter@David_Kemmerer.
Images from Shutterstock
The postOp-ed: How to Turn Your Bitcoin and Crypto Losses into Tax Savingsappeared first onCCN. || Bitcoin Price Just Surged to $7,200 Within 1 Hour, Strong Short-Term Rally Next?: In the past hour, the Bitcoin price has surged from $7,030 to $7,200, bringing the entire market with it to the upside.
Bitcoin Cash, NEO, Litecoin, ICON, EOS, VeChain, Tron, Qtum, Cardano, and most major tokens have recorded 5 to 15 percent gains in the past 30 minutes, showing the establishment of newly found momentum.
Previously, technical analysts in the cryptocurrency community have said that the break out of Bitcoin at the $7,200 resistance level could lead to a major short-term rally.
On August 30, the Bitcoin price fell from $7,100 to $6,800, showing vulnerability in the high $6,000 region. The majority of investors and retail traders expected Bitcoin to fall to mid-$6,000, seeing no support levels in between $6,500 and $6,800.
However, within a 12-hour period, BTC rebounded relatively quickly to the $7,000 resistance level, showing decent momentum and volume.
Last week, the volume of the entire cryptocurrency market remained below $9 billion, as the daily trading volume of Bitcoin and Ether dropped to $3.5 billion and $1.3 billion respectively. As of September 1, the volume of the market remains above $13 billion, possibly triggered by immense buy pressure at the lower price range.
CCNreportedthroughout the week that the stability Bitcoin had shown throughout August is crucial to acknowledge, as it achieved its most stable month in the past 14 months. Stability is required in a major trend reversal and if Bitcoin can continue to sustain stability in the weeks to come, a major mid-term rally is possible by the end of 2018, as investors like Fundstrat’s Tom Lee predicted.
“I do think in 2018, trading has shifted. I do think hedge funds are playing a role right now,” Leesaidearlier this week, reaffirming his end of the year BTC price target at $20,000.
On September 1, SFOX, a cryptocurrency trading technology firm, released a report confirming Lee’s findings.
Researchers at SFOX argued that subsequent to the involvement of institutional investors and hedge funds, the price differences between exchanges dropped, as the cryptocurrency market gained stability.
“Before institutional firms were actively trading crypto or heavily involved (before 2018) bitcoin price differences between exchanges varied as high as 4.5%,” Danny Kim, head of growth at SFOX,toldBusiness Insider’s Frank Chaparro in an interview.
On major cryptocurrency exchanges like Binance, token-to-BTC trading pairs are seeing a rapid increase in volume.
Ontology, ICON, VeChain, Tron, and 0x, which have showed weakness against Bitcoin and the US dollar, have started to pick up volume and momentum.
Given that Bitcoin has successfully broken out of the $7,200 resistance level and the dominant cryptocurrency remained in the $6,500 to $7,000 region from August 6 to August 30, it is likely that in the short-term, BTC and the rest of the market enters a rally.
Featured image from Shutterstock. Charts fromTradingView.
The postBitcoin Price Just Surged to $7,200 Within 1 Hour, Strong Short-Term Rally Next?appeared first onCCN. || Bitcoin Price Just Surged to $7,200 Within 1 Hour, Strong Short-Term Rally Next?: In the past hour, the Bitcoin price has surged from $7,030 to $7,200, bringing the entire market with it to the upside.
Bitcoin Cash, NEO, Litecoin, ICON, EOS, VeChain, Tron, Qtum, Cardano, and most major tokens have recorded 5 to 15 percent gains in the past 30 minutes, showing the establishment of newly found momentum.
Previously, technical analysts in the cryptocurrency community have said that the break out of Bitcoin at the $7,200 resistance level could lead to a major short-term rally.
On August 30, the Bitcoin price fell from $7,100 to $6,800, showing vulnerability in the high $6,000 region. The majority of investors and retail traders expected Bitcoin to fall to mid-$6,000, seeing no support levels in between $6,500 and $6,800.
However, within a 12-hour period, BTC rebounded relatively quickly to the $7,000 resistance level, showing decent momentum and volume.
Last week, the volume of the entire cryptocurrency market remained below $9 billion, as the daily trading volume of Bitcoin and Ether dropped to $3.5 billion and $1.3 billion respectively. As of September 1, the volume of the market remains above $13 billion, possibly triggered by immense buy pressure at the lower price range.
CCNreportedthroughout the week that the stability Bitcoin had shown throughout August is crucial to acknowledge, as it achieved its most stable month in the past 14 months. Stability is required in a major trend reversal and if Bitcoin can continue to sustain stability in the weeks to come, a major mid-term rally is possible by the end of 2018, as investors like Fundstrat’s Tom Lee predicted.
“I do think in 2018, trading has shifted. I do think hedge funds are playing a role right now,” Leesaidearlier this week, reaffirming his end of the year BTC price target at $20,000.
On September 1, SFOX, a cryptocurrency trading technology firm, released a report confirming Lee’s findings.
Researchers at SFOX argued that subsequent to the involvement of institutional investors and hedge funds, the price differences between exchanges dropped, as the cryptocurrency market gained stability.
“Before institutional firms were actively trading crypto or heavily involved (before 2018) bitcoin price differences between exchanges varied as high as 4.5%,” Danny Kim, head of growth at SFOX,toldBusiness Insider’s Frank Chaparro in an interview.
On major cryptocurrency exchanges like Binance, token-to-BTC trading pairs are seeing a rapid increase in volume.
Ontology, ICON, VeChain, Tron, and 0x, which have showed weakness against Bitcoin and the US dollar, have started to pick up volume and momentum.
Given that Bitcoin has successfully broken out of the $7,200 resistance level and the dominant cryptocurrency remained in the $6,500 to $7,000 region from August 6 to August 30, it is likely that in the short-term, BTC and the rest of the market enters a rally.
Featured image from Shutterstock. Charts fromTradingView.
The postBitcoin Price Just Surged to $7,200 Within 1 Hour, Strong Short-Term Rally Next?appeared first onCCN. || Bitcoin Price Just Surged to $7,200 Within 1 Hour, Strong Short-Term Rally Next?: In the past hour, the Bitcoin price has surged from $7,030 to $7,200, bringing the entire market with it to the upside. Bitcoin Cash, NEO, Litecoin, ICON, EOS, VeChain, Tron, Qtum, Cardano, and most major tokens have recorded 5 to 15 percent gains in the past 30 minutes, showing the establishment of newly found momentum. Previously, technical analysts in the cryptocurrency community have said that the break out of Bitcoin at the $7,200 resistance level could lead to a major short-term rally. Why is $7,200 Crucial? On August 30, the Bitcoin price fell from $7,100 to $6,800, showing vulnerability in the high $6,000 region. The majority of investors and retail traders expected Bitcoin to fall to mid-$6,000, seeing no support levels in between $6,500 and $6,800. However, within a 12-hour period, BTC rebounded relatively quickly to the $7,000 resistance level, showing decent momentum and volume. Last week, the volume of the entire cryptocurrency market remained below $9 billion, as the daily trading volume of Bitcoin and Ether dropped to $3.5 billion and $1.3 billion respectively. As of September 1, the volume of the market remains above $13 billion, possibly triggered by immense buy pressure at the lower price range. CCN reported throughout the week that the stability Bitcoin had shown throughout August is crucial to acknowledge, as it achieved its most stable month in the past 14 months. Stability is required in a major trend reversal and if Bitcoin can continue to sustain stability in the weeks to come, a major mid-term rally is possible by the end of 2018, as investors like Fundstrats Tom Lee predicted. I do think in 2018, trading has shifted. I do think hedge funds are playing a role right now, Lee said earlier this week, reaffirming his end of the year BTC price target at $20,000. On September 1, SFOX, a cryptocurrency trading technology firm, released a report confirming Lees findings. Researchers at SFOX argued that subsequent to the involvement of institutional investors and hedge funds, the price differences between exchanges dropped, as the cryptocurrency market gained stability. Story continues Before institutional firms were actively trading crypto or heavily involved (before 2018) bitcoin price differences between exchanges varied as high as 4.5%, Danny Kim, head of growth at SFOX, told Business Insiders Frank Chaparro in an interview. Where to Next? On major cryptocurrency exchanges like Binance, token-to-BTC trading pairs are seeing a rapid increase in volume. Ontology, ICON, VeChain, Tron, and 0x, which have showed weakness against Bitcoin and the US dollar, have started to pick up volume and momentum. Given that Bitcoin has successfully broken out of the $7,200 resistance level and the dominant cryptocurrency remained in the $6,500 to $7,000 region from August 6 to August 30, it is likely that in the short-term, BTC and the rest of the market enters a rally. Featured image from Shutterstock. Charts from TradingView . The post Bitcoin Price Just Surged to $7,200 Within 1 Hour, Strong Short-Term Rally Next? appeared first on CCN . || Eminem Raps About Bitcoin As Popular Culture Embraces Cryptocurrency: A new Eminem song, “Not Alike,” available onSpotify, observes that “Everybody doing bitcoin” in a string of phrases describing contemporary life.
The song, which predictably makes extensive use of profanity and references to violence, is one of the numerous references to cryptocurrency in modern culture.
Eminem is not the first rapper to reference bitcoin. In 2014,Toby + Decap wrote “Welcome To The Blockchain,”a song declaring “Power corrupts and money is power.” The song said inflation is a tax robbing money of its value and criticized fractional reserve banking, claiming “Our money is debt /gotta pay it back more than a hundred percent.”
Rappers aren’t the only artists noticing bitcoin nowadays.
Cryptocurrency is expected to get one of its biggest boosts of visibility with the upcoming Hollywood movie,“Crypto,” which deals with money laundering, starring Alexis Bledel of Gilmore Girls and Kurt Russell. The film’s plot also includes hacking and Internet security.
Late last year, as bitcoin was making major gains, an episode of the U.S. TV show, “The Big Bang Theory” carried a bitcoin plot when the geeky characters tried to find bitcoin they had mined several years earlier, as recounted onYahoo. When they finally recover the lost laptop, they find the bitcoin was downloaded to a flash drive on a keychain that has long been lost.
Also read:Country singer John Barrett celebrates bitcoin in ‘Ode to Satoshi’
Musicians have been the most attentive to cryptocurrency over the years.
Tatiana Moroz, a singer-songwriter, last year launched a coin called Tatianacoin with an album. She originally raised funds in 2014 with the help of Adam B. Levine of Let’s Talk Bitcoin and organized an ICO through CoinPowers, her mission being to bring musicians and fans together using blockchain technology.
Country singer John Barrett in 2016 wrote “Ode to Satoshi” in honor of the legendary founder of bitcoin, whom he called a person who “came to save the day.”
Naomi Brockwell in 2016 wrote a song called “Bitcoin Girl,” based on Billy Joel’s “Uptown Girl” to raise bitcoin awareness.
In 2012, the singer Kryptina set a song to “Love You Like A Song” by Selena Gomez which Kryptina titled, “Love You Like Bitcoin.” The song extolled bitcoin’s virtues, including the elimination of double spending and encryption.
In 2015, the movie,“Dope,”about a high school geek named Malcolm talks about bitcoin being the only currency people will use. The character and his friends use bitcoin to buy drugs.
Popular culture clearly reflects the rising awareness of cryptocurrency.
Featured image from Flickr/– EMR –.
The postEminem Raps About Bitcoin As Popular Culture Embraces Cryptocurrencyappeared first onCCN. || Eminem Raps About Bitcoin As Popular Culture Embraces Cryptocurrency: A new Eminem song, “Not Alike,” available onSpotify, observes that “Everybody doing bitcoin” in a string of phrases describing contemporary life.
The song, which predictably makes extensive use of profanity and references to violence, is one of the numerous references to cryptocurrency in modern culture.
Eminem is not the first rapper to reference bitcoin. In 2014,Toby + Decap wrote “Welcome To The Blockchain,”a song declaring “Power corrupts and money is power.” The song said inflation is a tax robbing money of its value and criticized fractional reserve banking, claiming “Our money is debt /gotta pay it back more than a hundred percent.”
Rappers aren’t the only artists noticing bitcoin nowadays.
Cryptocurrency is expected to get one of its biggest boosts of visibility with the upcoming Hollywood movie,“Crypto,” which deals with money laundering, starring Alexis Bledel of Gilmore Girls and Kurt Russell. The film’s plot also includes hacking and Internet security.
Late last year, as bitcoin was making major gains, an episode of the U.S. TV show, “The Big Bang Theory” carried a bitcoin plot when the geeky characters tried to find bitcoin they had mined several years earlier, as recounted onYahoo. When they finally recover the lost laptop, they find the bitcoin was downloaded to a flash drive on a keychain that has long been lost.
Also read:Country singer John Barrett celebrates bitcoin in ‘Ode to Satoshi’
Musicians have been the most attentive to cryptocurrency over the years.
Tatiana Moroz, a singer-songwriter, last year launched a coin called Tatianacoin with an album. She originally raised funds in 2014 with the help of Adam B. Levine of Let’s Talk Bitcoin and organized an ICO through CoinPowers, her mission being to bring musicians and fans together using blockchain technology.
Country singer John Barrett in 2016 wrote “Ode to Satoshi” in honor of the legendary founder of bitcoin, whom he called a person who “came to save the day.”
Naomi Brockwell in 2016 wrote a song called “Bitcoin Girl,” based on Billy Joel’s “Uptown Girl” to raise bitcoin awareness.
In 2012, the singer Kryptina set a song to “Love You Like A Song” by Selena Gomez which Kryptina titled, “Love You Like Bitcoin.” The song extolled bitcoin’s virtues, including the elimination of double spending and encryption.
In 2015, the movie,“Dope,”about a high school geek named Malcolm talks about bitcoin being the only currency people will use. The character and his friends use bitcoin to buy drugs.
Popular culture clearly reflects the rising awareness of cryptocurrency.
Featured image from Flickr/– EMR –.
The postEminem Raps About Bitcoin As Popular Culture Embraces Cryptocurrencyappeared first onCCN. || Eminem Raps About Bitcoin As Popular Culture Embraces Cryptocurrency: A new Eminem song, “Not Alike,” available on Spotify , observes that “Everybody doing bitcoin” in a string of phrases describing contemporary life. The song, which predictably makes extensive use of profanity and references to violence, is one of the numerous references to cryptocurrency in modern culture. Eminem is not the first rapper to reference bitcoin. In 2014, Toby + Decap wrote “Welcome To The Blockchain,” a song declaring “Power corrupts and money is power.” The song said inflation is a tax robbing money of its value and criticized fractional reserve banking, claiming “Our money is debt /gotta pay it back more than a hundred percent.” Rappers aren’t the only artists noticing bitcoin nowadays. Hollywood Movie Planned Cryptocurrency is expected to get one of its biggest boosts of visibility with the upcoming Hollywood movie, “Crypto,” which deals with money laundering , starring Alexis Bledel of Gilmore Girls and Kurt Russell. The film’s plot also includes hacking and Internet security. Late last year, as bitcoin was making major gains, an episode of the U.S. TV show, “The Big Bang Theory” carried a bitcoin plot when the geeky characters tried to find bitcoin they had mined several years earlier, as recounted on Yahoo . When they finally recover the lost laptop, they find the bitcoin was downloaded to a flash drive on a keychain that has long been lost. Also read: Country singer John Barrett celebrates bitcoin in ‘Ode to Satoshi’ Musicians Take The Lead Musicians have been the most attentive to cryptocurrency over the years. Tatiana Moroz, a singer-songwriter, last year launched a coin called Tatianacoin with an album. She originally raised funds in 2014 with the help of Adam B. Levine of Let’s Talk Bitcoin and organized an ICO through CoinPowers, her mission being to bring musicians and fans together using blockchain technology. Country singer John Barrett in 2016 wrote “Ode to Satoshi” in honor of the legendary founder of bitcoin, whom he called a person who “came to save the day.” Story continues Naomi Brockwell in 2016 wrote a song called “Bitcoin Girl,” based on Billy Joel’s “Uptown Girl” to raise bitcoin awareness. In 2012, the singer Kryptina set a song to “Love You Like A Song” by Selena Gomez which Kryptina titled, “Love You Like Bitcoin.” The song extolled bitcoin’s virtues, including the elimination of double spending and encryption. In 2015, the movie, “Dope,” about a high school geek named Malcolm talks about bitcoin being the only currency people will use. The character and his friends use bitcoin to buy drugs. Popular culture clearly reflects the rising awareness of cryptocurrency. Featured image from Flickr/ – EMR – . The post Eminem Raps About Bitcoin As Popular Culture Embraces Cryptocurrency appeared first on CCN . || Thai Actor Maintains Innocence with $24 Million Bitcoin Fraud: Bitcoin fraud scam ico The charges on famous Thai actor Jiratpisit Boom Jaravijit and his sibling, Thanasit Jaravijit were heard earlier this week in court concerning an alleged bitcoin fraud worth nearly a billion baht (about $24 million), according to a local news outlet. The popular soap actor showed up at court well ahead of schedule but tried to avoid reporters who kept asking about his siblings and his involvement in the scam. According to the news outlet, Boom continues to maintain his innocence in the fraud, despite incriminating evidence held by the Bangkok Crime Suppression Division (CSD) against him including an electronic account under his name used to receive bitcoin deposits. After a grueling interrogation with the authorities, Boom told reporters he had nothing to do with the incidence and neither was he in contact with the prime suspect in the casehis elder brotherParinya Jaravijit. Boom was arrested at a film location on August 8, 2018, where he was charged with money laundering. According to the complaints made by Finnish businessman, Aarni Otava Saarimaa, Boom and his accomplices had promised high growth returns to investors who invested in DNA 2002 Plc shares, a bitcoin-related business. Renowned stock exchange investor Prasit Srisuwan brokered the deal, but the investors didnt get the stock as promised, neither were they called for a shareholders meeting. Srisuwan, who brokered the deal, is also subject to an arrest warrant. He told reporters last month that he was a victim in the case and not a culprit. CSD deputy commander Chakrit Sawasdee had argued that Srisuwan will still be charged with fraud on the basis of collecting $24 million worth of Bitcoin from Saarimaa without delivering the 500 million shares in DNA 2002 at 0.50 baht each. According to the authorities, the bitcoin scam gang allegedly exchanged Saarimaas bitcoin for baht and then laundered the money through a series of bank accounts. Featured image from Shutterstock. The post Thai Actor Maintains Innocence with $24 Million Bitcoin Fraud appeared first on CCN . || Thai Actor Maintains Innocence with $24 Million Bitcoin Fraud: The charges on famous Thai actor Jiratpisit “Boom” Jaravijit and his sibling, Thanasit Jaravijit were heard earlier this week in court concerning an alleged bitcoin fraud worth nearly a billion baht (about $24 million), according to alocal newsoutlet.
The popular soap actor showed up at court well ahead of schedule but tried to avoid reporters who kept asking about his siblings and his involvement in the scam. According to the news outlet, Boom continues to maintain his innocence in the fraud, despite incriminating evidence held by the Bangkok Crime Suppression Division (CSD) against him including an “electronic account” under his name used to receive bitcoin deposits.
After a grueling interrogation with the authorities, Boom told reporters he had nothing to do with the incidence and neither was he in contact with the prime suspect in the case—his elder brother—Parinya Jaravijit.
Boom was arrested at a film location on August 8, 2018, where he waschargedwith money laundering. According to the complaints made by Finnish businessman, Aarni Otava Saarimaa, Boom and his accomplices had promised high growth returns to investors who invested in DNA 2002 Plc shares, a bitcoin-related business. Renowned stock exchange investor Prasit Srisuwan brokered the deal, but the investors didn’t get the stock as promised, neither were they called for a shareholders meeting.
Srisuwan, who brokered the deal, is also subject to an arrest warrant. He told reporters last month that he was a victim in the case and not a culprit. CSD deputy commander Chakrit Sawasdee had argued that Srisuwan will still be charged with fraud on the basis of collecting $24 million worth of Bitcoin from Saarimaa without delivering the 500 million shares in DNA 2002 at 0.50 baht each. According to the authorities, the bitcoin scam gang allegedly exchanged Saarimaa’s bitcoin for baht and then laundered the money through a series of bank accounts.
Featured image from Shutterstock.
The postThai Actor Maintains Innocence with $24 Million Bitcoin Fraudappeared first onCCN. || Thai Actor Maintains Innocence with $24 Million Bitcoin Fraud: The charges on famous Thai actor Jiratpisit “Boom” Jaravijit and his sibling, Thanasit Jaravijit were heard earlier this week in court concerning an alleged bitcoin fraud worth nearly a billion baht (about $24 million), according to alocal newsoutlet.
The popular soap actor showed up at court well ahead of schedule but tried to avoid reporters who kept asking about his siblings and his involvement in the scam. According to the news outlet, Boom continues to maintain his innocence in the fraud, despite incriminating evidence held by the Bangkok Crime Suppression Division (CSD) against him including an “electronic account” under his name used to receive bitcoin deposits.
After a grueling interrogation with the authorities, Boom told reporters he had nothing to do with the incidence and neither was he in contact with the prime suspect in the case—his elder brother—Parinya Jaravijit.
Boom was arrested at a film location on August 8, 2018, where he waschargedwith money laundering. According to the complaints made by Finnish businessman, Aarni Otava Saarimaa, Boom and his accomplices had promised high growth returns to investors who invested in DNA 2002 Plc shares, a bitcoin-related business. Renowned stock exchange investor Prasit Srisuwan brokered the deal, but the investors didn’t get the stock as promised, neither were they called for a shareholders meeting.
Srisuwan, who brokered the deal, is also subject to an arrest warrant. He told reporters last month that he was a victim in the case and not a culprit. CSD deputy commander Chakrit Sawasdee had argued that Srisuwan will still be charged with fraud on the basis of collecting $24 million worth of Bitcoin from Saarimaa without delivering the 500 million shares in DNA 2002 at 0.50 baht each. According to the authorities, the bitcoin scam gang allegedly exchanged Saarimaa’s bitcoin for baht and then laundered the money through a series of bank accounts.
Featured image from Shutterstock.
The postThai Actor Maintains Innocence with $24 Million Bitcoin Fraudappeared first onCCN. || Crypto Trading 101: The Fibonacci Retracements: New to crypto trading? Read CoinDesk's full set of guides . Fibonacci retracement. Sounds sophisticated? But what does it do? And does it work? Luckily for traders, Fibonacci retracements are far more than just a nifty word. In fact, it's the name of a tool used to predict potential support and resistance levels for price action. Ethereum Developers Move to Alter Blockchain's Economics In Next Upgrade First, let's define what this so-called "Fibonacci" is so you have a better idea as to why it is a concept relevant to trading cryptocurrencies. Leonardo of Pisa (A.K.A. Fibonacci) was an 11th-century mathematician responsible for introducing a unique sequence of numbers to the West, now known as the "Fibonacci Sequence." The Sequence 0, 1, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144, 233, 377, 610, 987, 1597, 2584... (pattern repeats to infinity) Each number in the sequence is derived from the sum of the preceding two numbers. Clever, right? Bitcoin Price Loses 10% In August But Long-Term Bottom May Be In Not only that, but each number is roughly 1.618 times greater than the number before it. This creates a value known as the "golden ratio," or "phi" and has a fascinating relationship with nearly everything in nature. Take flowers , for example, the lily is arranged with three petals, buttercups with five, the chicory with 21, daisies with 34 and so on. Interestingly, the numbers abide by the Fibonacci sequence and each petal is even placed at 0.618 per turn (out of a 360-degree circle), allowing for optimal exposure to sunlight and other factors crucial to survival. Examples of the Fibonacci sequence in nature are seemingly endless and this expands to trading when it comes to analyzing price action. Specifically, a trader can derive levels in a trend that price is likely to respect by dividing a peak to trough or trough to peak distance by the golden ratio and other ratios in the sequence. Other important ratios include 0.382 which is any number in the sequence divided by the number two places to its right and 0.236, found by dividing one of the numbers by the one three places to its right. Story continues As you'll come to notice, price reacts to these levels on a regular basis, which can provide a trader with optimal entry and exit points, just like it provides a flower with the optimal structure to absorb sunlight. Finding Support Levels Before using the Fibonacci tool to identify potential support or resistance levels, a trader must first be able to identify a "swing high" and "swing low." A swing high is simply a candlestick at the peak of a trend in any time frame that has a lower high directly to its right and left. Conversely, a swing low is the low candlestick stick of a trend with a higher low on each side. Once these points are identified, select the Fibonacci retracement tool in your trading software to connect a swing low to a swing high. Potential support levels will be generated, known as retracements. Each retracement is derived from the vertical "peak to trough" distance divided by ratios in the Fibonacci sequence. In the above chart, monero's (XMR/BTC) swing high of 0.03815/BTC was connected to the swing low of 0.0111/BTC on the daily time frame using the Fibonacci retracement tool. As you can see, the retracements of 0.236, 0.382, 0.5, and 0.618 were all respected as support, at least temporarily, as price rebounded from its September plunge. If a trader was to take advantage of this tool from November on, he or she would have had an idea as to where price might land before making its next move, revealing ideal trade entry or exit points. Finding Resistance Levels The process to find potential resistance levels is largely the same as before, except this time you will be connecting the swing low to swing high. The retracements will again appear by dividing the distance from trough to peak using ratios in the Fibonacci sequence. In the above chart, the anticipated resistance levels for ethereum classic (ETC/BTC) were calculated using the Fibonacci tool by connecting the swing low of 0.001304/BTC to the swing high of 0.001304. Once again, price reacted to the levels as advertised. The 0.618, 0.5, and 0.382 retracements provided resistance on several occasions which would have provided a trader with optimal targets to take profits on his or her position. Conclusion It's important to remember that while the Fibonacci tool can be useful in identity supports and resistances, the results are not guaranteed. In order to increase the probability of certain retracements acting as advertised, it is best to use the tool along with other indicators like moving averages or the relative strength index (RSI). For example, if a moving average is in the same location as a Fibonacci retracement, price is more likely to react to the level given there lie two support or resistance obstacles, which when combined are more powerful than one. If you went through the sequence calculating each ratio, you may have noticed 0.5 is not one of them yet, it appears as a level in the Fibonacci Retracement tool. Its true, 0.5 is not a ratio in Fibonacci sequence but is included in the tool because it marks a 50 percent trend retracement, which price has a funny way of reacting to as support or resistance. Disclosure:  The author holds BTC, AST, REQ, OMG, FUEL, 1st and AMP at the time of writing. Golden ratio  via Shutterstock; Charts via TradingView Related Stories Yahoo Finance Now Offers Trading of 4 Cryptos on Its iOS App Above $7K: Bitcoin Price Pushes Higher In Break Past Resistance || Crypto Trading 101: The Fibonacci Retracements: New to crypto trading? Read CoinDesk's fullset of guides.
Fibonacci retracement. Sounds sophisticated? But what does it do? And does it work?
Luckily for traders, Fibonacci retracements are far more than just a nifty word. In fact, it's the name of a tool used to predict potential support and resistance levels for price action.
Ethereum Developers Move to Alter Blockchain's Economics In Next Upgrade
First, let's define what this so-called "Fibonacci" is so you have a better idea as to why it is a concept relevant to trading cryptocurrencies.
Leonardo of Pisa (A.K.A. Fibonacci) was an11th-century mathematicianresponsible for introducing a unique sequence of numbers to the West, now known as the "Fibonacci Sequence."
0, 1, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144, 233, 377, 610, 987, 1597, 2584... (pattern repeats to infinity)
Each number in the sequence is derived from the sum of the preceding two numbers. Clever, right?
Bitcoin Price Loses 10% In August But Long-Term Bottom May Be In
Not only that, but each number is roughly 1.618 times greater than the number before it. This creates a value known as the "golden ratio," or "phi" and has a fascinating relationship with nearly everything in nature.
Takeflowers, for example, the lily is arranged with three petals, buttercups with five, the chicory with 21, daisies with 34 and so on. Interestingly, the numbers abide by the Fibonacci sequence and each petal is even placed at 0.618 per turn (out of a 360-degree circle), allowing for optimal exposure to sunlight and other factors crucial to survival.
Examples of the Fibonacci sequence in nature are seemingly endless and this expands to trading when it comes to analyzing price action.
Specifically, a trader can derive levels in a trend that price is likely to respect by dividing a peak to trough or trough to peak distance by the golden ratio and other ratios in the sequence. Other important ratios include 0.382 which is any number in the sequence divided by the number two places to its right and 0.236, found by dividing one of the numbers by the one three places to its right.
As you'll come to notice, price reacts to these levels on a regular basis, which can provide a trader with optimal entry and exit points, just like it provides a flower with the optimal structure to absorb sunlight.
Before using the Fibonacci tool to identify potential support or resistance levels, a trader must first be able to identify a "swing high" and "swing low."
A swing high is simply a candlestick at the peak of a trend in any time frame that has a lower high directly to its right and left. Conversely, a swing low is the low candlestick stick of a trend with a higher low on each side.
Once these points are identified, select the Fibonacci retracement tool in your trading software to connect a swing low to a swing high. Potential support levels will be generated, known as retracements.
Each retracement is derived from the vertical "peak to trough" distance divided by ratios in the Fibonacci sequence.
In the above chart, monero's (XMR/BTC) swing high of 0.03815/BTC was connected to the swing low of 0.0111/BTC on the daily time frame using the Fibonacci retracement tool.
As you can see, the retracements of 0.236, 0.382, 0.5, and 0.618 were all respected as support, at least temporarily, as price rebounded from its September plunge.
If a trader was to take advantage of this tool from November on, he or she would have had an idea as to where price might land before making its next move, revealing ideal trade entry or exit points.
The process to find potential resistance levels is largely the same as before, except this time you will be connecting the swing low to swing high.
The retracements will again appear by dividing the distance from trough to peak using ratios in the Fibonacci sequence.
In the above chart, the anticipated resistance levels for ethereum classic (ETC/BTC) were calculated using the Fibonacci tool by connecting the swing low of 0.001304/BTC to the swing high of 0.001304.
Once again, price reacted to the levels as advertised.
The 0.618, 0.5, and 0.382 retracements provided resistance on several occasions which would have provided a trader with optimal targets to take profits on his or her position.
It's important to remember that while the Fibonacci tool can be useful in identity supports and resistances, the results are not guaranteed. In order to increase the probability of certain retracements acting as advertised, it is best to use the tool along with other indicators like moving averages or the relative strength index (RSI).
For example, if a moving average is in the same location as a Fibonacci retracement, price is more likely to react to the level given there lie two support or resistance obstacles, which when combined are more powerful than one.
If you went through the sequence calculating each ratio, you may have noticed 0.5 is not one of them yet, it appears as a level in the Fibonacci Retracement tool. Its true, 0.5 is not a ratio in Fibonacci sequence but is included in the tool because it marks a 50 percent trend retracement, which price has a funny way of reacting to as support or resistance.
Disclosure:Â The author holds BTC, AST, REQ, OMG, FUEL, 1st and AMP at the time of writing.
Golden ratio via Shutterstock; Charts viaÂTradingView
• Yahoo Finance Now Offers Trading of 4 Cryptos on Its iOS App
• Above $7K: Bitcoin Price Pushes Higher In Break Past Resistance || Bitcoin Cash, Litecoin and Ripple Daily Analysis 01/09/18: Bitcoin Cash On the Move Bitcoin Cash gained 0.61% on Friday, partially reversing Thursdays 3.01% fall, to end the day at $541.9, the moves through the week leaving Bitcoin Cash down 30.29% for the month of August, whilst up 3.38% for the current week. Following 2 consecutive days of losses, Friday was a relatively uneventful day, Bitcoin Cash moving within some relatively tight ranges through, an early intraday low $533.4 steering clear of the days first major support level at $523.13, with a late afternoon intraday high $548.5 falling short of the days first major resistance level at $555.13. At the time of writing, Bitcoin Cash was up 2.32% to $555, with Fridays 2 nd half of the day recovery spilling into the early hours of this morning, Bitcoin Cash breaking through the first major resistance level at $549.13 to test the second major resistance level at $556.37, with a morning high $556.2. For the day ahead, a break out from the days second major resistance level at $556.37 would support a run at $560 levels, while we would expect Bitcoin Cash to fall short of the days third major resistance level at $571.47, Bitcoin Cash needing to hold on to $550 levels through the morning to support a run a $560 levels. Failure to break through to $560 levels could see Bitcoin Cash give up some of the days gains, with a hold above $542 needed to avoid a pullback through to $530 levels that would bring the days first major support level at $534.03 into play. {alt} Litecoin Breaks Free Litecoin gained 3.1% on Friday, reversing Thursdays 2.05% loss, to end the day at $62.13, the moves through the week leaving Litecoin down 21.4% for the month of August, whilst up 8.8% for the current week. An early dip to an intraday low $59.55% steered clear of the days first major support level at $58.65, with support at $60 leading to a second half of a day rally, Litecoin breaking through the first major resistance level at $61.82 to a late afternoon intraday high $62.8, before steadying. Story continues For the crypto bulls, holding on to $62 levels was the positive of the day, though Litecoin continues to fall well short of the 23.6% FIB Retracement Level of $81, leaving the extended bearish trend firmly intact. At the time of writing, Litecoin was up 2.48% to $63.67, Fridays afternoon rally continuing into the early hours of this morning, Litecoin breaking through the days first major resistance level at $63.44 to a morning high $63.84. For the day ahead, a holding on to $63 levels through the morning would support a move back through the morning high $63.84 to bring $64 levels and the days second major resistance level at $64.74 into play, the lack of materially negative news at the end of the week supporting this mornings moves. Failure to hold on to $63 levels could see Litecoin pullback to sub-$62 levels, though we would expect Litecoin to steer clear of the days first major support level at $60.19, barring materially negative news hitting the wires. {alt} Ripple Flat on the Day Ripples XRP gained just 0.09% on Friday, following Thursdays 2.9% fall, to end the day at $0.3351, the moves through the week leaving Ripples XRP down 23% for the month of August, whilst up 3.84% for the current week. A relatively range bound morning saw Ripples XRP pullback to an intraday low $0.3273, holding above the days first major support level at $0.323, before rallying to a late afternoon intraday high $0.34108, the days high falling short of the first major support level at $0.3465. Unable to hold on to $0.34 levels for a 2 nd consecutive day, Ripples XRP trailed the majors on the day, with the extended bearish trend firmly intact, Ripples XRP sitting well short of the 23.6% FIB Retracement Level of $0.4164 and $0.50 levels needed to begin forming a bearish trend reversal. At the time of writing, Ripples XRP was up 1.81% to $0.34103, support coming from the broader market, with Ripples XRP breaking through the days first major resistance level at $0.3417 to a morning high $0.34366. For the day ahead, a hold on to $0.34 levels through the morning would support a move back through the first major resistance level at $0.3417 to bring the days second major resistance level at $0.3483 into play, Ripples XRP likely to play catchup should the positive sentiment hold through the morning. Failure to move back through the morning high $0.3483 could see Ripples XRP pullback through a start of a day morning low $0.33478 to bring sub-$0.33 levels and the days first major support level at $0.3279 into play before any recovery. {alt} Buy & Sell Cryptocurrency Instantly This article was originally posted on FX Empire More From FXEMPIRE: USD/JPY Weekly Price Forecast titrating continues Silver Price Forecast Silver markets continue to struggle with strong dollar S&P 500 Price Forecast stock have nowhere to go GBP/USD Price Forecast British pound slumps on Friday Natural Gas Weekly Price Forecast natural gas markets have wild week Silver Weekly Price Forecast Silver continues to drift lower || Bitcoin Cash, Litecoin and Ripple Daily Analysis – 01/09/18: Bitcoin Cash gained 0.61% on Friday, partially reversing Thursday’s 3.01% fall, to end the day at $541.9, the moves through the week leaving Bitcoin Cash down 30.29% for the month of August, whilst up 3.38% for the current week.
Following 2 consecutive days of losses, Friday was a relatively uneventful day, Bitcoin Cash moving within some relatively tight ranges through, an early intraday low $533.4 steering clear of the day’s first major support level at $523.13, with a late afternoon intraday high $548.5 falling short of the day’s first major resistance level at $555.13.
At the time of writing, Bitcoin Cash was up 2.32% to $555, with Friday’s 2ndhalf of the day recovery spilling into the early hours of this morning, Bitcoin Cash breaking through the first major resistance level at $549.13 to test the second major resistance level at $556.37, with a morning high $556.2.
For the day ahead, a break out from the day’s second major resistance level at $556.37 would support a run at $560 levels, while we would expect Bitcoin Cash to fall short of the day’s third major resistance level at $571.47, Bitcoin Cash needing to hold on to $550 levels through the morning to support a run a $560 levels.
Failure to break through to $560 levels could see Bitcoin Cash give up some of the day’s gains, with a hold above $542 needed to avoid a pullback through to $530 levels that would bring the day’s first major support level at $534.03 into play.
Litecoin gained 3.1% on Friday, reversing Thursday’s 2.05% loss, to end the day at $62.13, the moves through the week leaving Litecoin down 21.4% for the month of August, whilst up 8.8% for the current week.
An early dip to an intraday low $59.55% steered clear of the day’s first major support level at $58.65, with support at $60 leading to a second half of a day rally, Litecoin breaking through the first major resistance level at $61.82 to a late afternoon intraday high $62.8, before steadying.
For the crypto bulls, holding on to $62 levels was the positive of the day, though Litecoin continues to fall well short of the 23.6% FIB Retracement Level of $81, leaving the extended bearish trend firmly intact.
At the time of writing, Litecoin was up 2.48% to $63.67, Friday’s afternoon rally continuing into the early hours of this morning, Litecoin breaking through the day’s first major resistance level at $63.44 to a morning high $63.84.
For the day ahead, a holding on to $63 levels through the morning would support a move back through the morning high $63.84 to bring $64 levels and the day’s second major resistance level at $64.74 into play, the lack of materially negative news at the end of the week supporting this morning’s moves.
Failure to hold on to $63 levels could see Litecoin pullback to sub-$62 levels, though we would expect Litecoin to steer clear of the day’s first major support level at $60.19, barring materially negative news hitting the wires.
Ripple’s XRP gained just 0.09% on Friday, following Thursday’s 2.9% fall, to end the day at $0.3351, the moves through the week leaving Ripple’s XRP down 23% for the month of August, whilst up 3.84% for the current week.
A relatively range bound morning saw Ripple’s XRP pullback to an intraday low $0.3273, holding above the day’s first major support level at $0.323, before rallying to a late afternoon intraday high $0.34108, the day’s high falling short of the first major support level at $0.3465.
Unable to hold on to $0.34 levels for a 2ndconsecutive day, Ripple’s XRP trailed the majors on the day, with the extended bearish trend firmly intact, Ripple’s XRP sitting well short of the 23.6% FIB Retracement Level of $0.4164 and $0.50 levels needed to begin forming a bearish trend reversal.
At the time of writing, Ripple’s XRP was up 1.81% to $0.34103, support coming from the broader market, with Ripple’s XRP breaking through the day’s first major resistance level at $0.3417 to a morning high $0.34366.
For the day ahead, a hold on to $0.34 levels through the morning would support a move back through the first major resistance level at $0.3417 to bring the day’s second major resistance level at $0.3483 into play, Ripple’s XRP likely to play catchup should the positive sentiment hold through the morning.
Failure to move back through the morning high $0.3483 could see Ripple’s XRP pullback through a start of a day morning low $0.33478 to bring sub-$0.33 levels and the day’s first major support level at $0.3279 into play before any recovery.
Buy & Sell Cryptocurrency Instantly
Thisarticlewas originally posted on FX Empire
• USD/JPY Weekly Price Forecast – titrating continues
• Silver Price Forecast – Silver markets continue to struggle with strong dollar
• S&P 500 Price Forecast – stock have nowhere to go
• GBP/USD Price Forecast – British pound slumps on Friday
• Natural Gas Weekly Price Forecast – natural gas markets have wild week
• Silver Weekly Price Forecast – Silver continues to drift lower || Bitcoin Cash, Litecoin and Ripple Daily Analysis – 01/09/18: Bitcoin Cash gained 0.61% on Friday, partially reversing Thursday’s 3.01% fall, to end the day at $541.9, the moves through the week leaving Bitcoin Cash down 30.29% for the month of August, whilst up 3.38% for the current week.
Following 2 consecutive days of losses, Friday was a relatively uneventful day, Bitcoin Cash moving within some relatively tight ranges through, an early intraday low $533.4 steering clear of the day’s first major support level at $523.13, with a late afternoon intraday high $548.5 falling short of the day’s first major resistance level at $555.13.
At the time of writing, Bitcoin Cash was up 2.32% to $555, with Friday’s 2ndhalf of the day recovery spilling into the early hours of this morning, Bitcoin Cash breaking through the first major resistance level at $549.13 to test the second major resistance level at $556.37, with a morning high $556.2.
For the day ahead, a break out from the day’s second major resistance level at $556.37 would support a run at $560 levels, while we would expect Bitcoin Cash to fall short of the day’s third major resistance level at $571.47, Bitcoin Cash needing to hold on to $550 levels through the morning to support a run a $560 levels.
Failure to break through to $560 levels could see Bitcoin Cash give up some of the day’s gains, with a hold above $542 needed to avoid a pullback through to $530 levels that would bring the day’s first major support level at $534.03 into play.
Litecoin gained 3.1% on Friday, reversing Thursday’s 2.05% loss, to end the day at $62.13, the moves through the week leaving Litecoin down 21.4% for the month of August, whilst up 8.8% for the current week.
An early dip to an intraday low $59.55% steered clear of the day’s first major support level at $58.65, with support at $60 leading to a second half of a day rally, Litecoin breaking through the first major resistance level at $61.82 to a late afternoon intraday high $62.8, before steadying.
For the crypto bulls, holding on to $62 levels was the positive of the day, though Litecoin continues to fall well short of the 23.6% FIB Retracement Level of $81, leaving the extended bearish trend firmly intact.
At the time of writing, Litecoin was up 2.48% to $63.67, Friday’s afternoon rally continuing into the early hours of this morning, Litecoin breaking through the day’s first major resistance level at $63.44 to a morning high $63.84.
For the day ahead, a holding on to $63 levels through the morning would support a move back through the morning high $63.84 to bring $64 levels and the day’s second major resistance level at $64.74 into play, the lack of materially negative news at the end of the week supporting this morning’s moves.
Failure to hold on to $63 levels could see Litecoin pullback to sub-$62 levels, though we would expect Litecoin to steer clear of the day’s first major support level at $60.19, barring materially negative news hitting the wires.
Ripple’s XRP gained just 0.09% on Friday, following Thursday’s 2.9% fall, to end the day at $0.3351, the moves through the week leaving Ripple’s XRP down 23% for the month of August, whilst up 3.84% for the current week.
A relatively range bound morning saw Ripple’s XRP pullback to an intraday low $0.3273, holding above the day’s first major support level at $0.323, before rallying to a late afternoon intraday high $0.34108, the day’s high falling short of the first major support level at $0.3465.
Unable to hold on to $0.34 levels for a 2ndconsecutive day, Ripple’s XRP trailed the majors on the day, with the extended bearish trend firmly intact, Ripple’s XRP sitting well short of the 23.6% FIB Retracement Level of $0.4164 and $0.50 levels needed to begin forming a bearish trend reversal.
At the time of writing, Ripple’s XRP was up 1.81% to $0.34103, support coming from the broader market, with Ripple’s XRP breaking through the day’s first major resistance level at $0.3417 to a morning high $0.34366.
For the day ahead, a hold on to $0.34 levels through the morning would support a move back through the first major resistance level at $0.3417 to bring the day’s second major resistance level at $0.3483 into play, Ripple’s XRP likely to play catchup should the positive sentiment hold through the morning.
Failure to move back through the morning high $0.3483 could see Ripple’s XRP pullback through a start of a day morning low $0.33478 to bring sub-$0.33 levels and the day’s first major support level at $0.3279 into play before any recovery.
Buy & Sell Cryptocurrency Instantly
Thisarticlewas originally posted on FX Empire
• USD/JPY Weekly Price Forecast – titrating continues
• Silver Price Forecast – Silver markets continue to struggle with strong dollar
• S&P 500 Price Forecast – stock have nowhere to go
• GBP/USD Price Forecast – British pound slumps on Friday
• Natural Gas Weekly Price Forecast – natural gas markets have wild week
• Silver Weekly Price Forecast – Silver continues to drift lower
[Social Media Buzz]
09/03 01:00 現在のビットコインの価格 BTC/JPY ask: 810,493 / bid: 791,201 || Sep 02, 2018 22:30:00 UTC | 7,287.90$ | 6,284.30€ | 5,640.20£ | #Bitcoin #btc pic.twitter.com/UBmv97ZQUm || 09-02 21:00(GMT)
#SPINDLE price
$SPD (BTC)
Yobit :0.00000043
HitBTC :0.00000042
LiveCoin:0.00000039
$SPD (JPY)
Yobit :0.35
HitBTC :0.34
LiveCoin:0.32 || Sep 02, 2018 08:00:00 UTC | 7,230.70$ | 6,226.00€ | 5,578.80£ | #Bitcoin #btc pic.twitter.com/UAl9oT14iw || Sep 02, 2018 17:00:00 UTC | 7,273.60$ | 6,261.40€ | 5,612.3...
|
7260.06, 7361.66, 6792.83, 6529.17, 6467.07, 6225.98, 6300.86, 6329.70, 6321.20, 6351.80
|
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 433.50, 437.70, 435.12, 423.99, 421.65, 410.94, 400.57, 407.71, 414.32, 413.97, 414.86, 417.13, 421.69, 411.62, 414.07, 416.44, 416.83, 417.01, 420.62, 409.55, 410.44, 413.76, 413.31, 418.09, 418.04, 416.39, 417.18, 417.95, 426.77, 424.23, 416.52, 414.82, 416.73, 417.96, 420.87, 420.90, 421.44, 424.03, 423.41, 422.74, 420.35, 419.41, 421.56, 422.48, 425.19, 423.73, 424.28, 429.71, 430.57, 427.40, 428.59, 435.51, 441.39, 449.42, 445.74, 450.28, 458.55, 461.43, 466.09, 444.69, 449.01, 455.10, 448.32, 451.88, 444.67, 450.30, 446.72, 447.98, 459.60, 458.54, 458.55, 460.48, 450.89, 452.73, 454.77, 455.67, 455.67, 457.57, 454.16, 453.78, 454.62, 438.71, 442.68, 443.19, 439.32, 444.15, 445.98, 449.60, 453.38, 473.46.
|
[Bitcoin Technical Analysis for 2016-05-27]
Volume: 164780992, RSI (14-day): 68.19, 50-day EMA: 444.79, 200-day EMA: 404.62
[Wider Market Context]
Gold Price: 1213.80, Gold RSI: 33.11
Oil Price: 49.33, Oil RSI: 69.54
[Recent News (last 7 days)]
Flow Celebrates Manchester United Victory With the Caribbean: BRIDGETOWN, BARBADOS--(Marketwired - May 26, 2016) - Manchester United (MUTD) fans were united in celebration on May 21 as they gathered at watch parties hosted by the region's leading quad-play provider, Flow, and witnessed the Red Devils hoist the FA Cup at Wembley Stadium after a thrilling 2-1 comeback victory over Crystal Palace. The story could not have been written better as the club's historic twelfth FA title was showcased at Flow's first-ever regional watch-party event -- just months after the two organizations entered into a multi-year partnership. From Turks and Caicos to Trinidad and islands in between, Flow customers were able to attend the viewing parties after successfully winning the Company's "txt for a ticket" campaign. In each instance, numerous diehard MUTD fans turned up decked out in their Manchester United colours, and not only had an opportunity to watch the pivotal match, but were also treated to plenty of cool giveaways, which included official MUTD gear and merchandise. Some fans were even lucky enough to win brand-new smartphones after winning the "Text the Score" competition that took place during the match. By all accounts, in each location, the energy and excitement was palpable, with many attendees expressing their desire to attend similar events in the future. Indeed, the responses in general were glowing with positivity; in Antigua, for example, local sports talk show host Joseph "JoJo" Apparicio commended Flow for its "great initiative" to bring sports fans together and provide them with an electric environment to watch the ultimate game of the season. Others expressed similar sentiments, including one Barbadian, Rasheed Holder, who praised Flow's efforts for successfully organizing the event. "Flow provided the perfect setting for what turned out to be the perfect match," said Holder. "The atmosphere was tremendous and the added elements that Flow provided made it all the more special. A big thank you to Flow for an awesome match day." Story continues Justin Luke -- another attendee at the Barbados watch party -- said he regularly uses the Flow Football App to tune into weekend games, but said, "having the opportunity to attend such an awesome watch party was great. The place was packed and I was happy to meet the Flow team who made sure we all enjoyed every minute of the match. Manchester United getting a late goal made it all the more special." Offering his congratulations to MUTD, on behalf of Flow, Managing Director of Flow Barbados, Niall Sheehy, had this to say: "Huge congratulations to the folks at Manchester United for capturing yet another FA Cup title. This triumph was celebrated across the Caribbean and Flow is especially pleased to be bringing regional football fans that much closer to all the action." The watch-party initiative was a follow up to the exclusive, multi-year deal that Flow signed with MUTD earlier this year. This partnership offers Caribbean football fans real time updates and news via Red Alerts (the football club's official SMS), as well as unique experiences like the chance to win tickets to MUTD games, signed merchandise and even interactions with MUTD legends such as club ambassadors Bryan Robson, Andy Cole and Dwight Yorke. In addition to its deal with MUTD, Flow has formed other strategic partnerships to bring amazing sporting content to the region, including the Barclays Premier League and the upcoming 2016 Rio Olympic Games. By giving customers access to MUTD content and more "on the go" via mobile, tablets and desktop devices, as well as through the Flow ToGo app, Flow is the "Home of Sports in the Caribbean." www.manutd.com About Cable & Wireless Communications Plc Cable & Wireless Communications Plc (CWC) is a full service communications and entertainment provider, operating in Latin America and the Caribbean. With annual sales of over US$2.4 billion, it operates both mobile and fixed networks, supported by submarine and terrestrial optical fibre backhaul capacity. CWC delivers superior high-speed mobile data, broadband and video services. It has leading market positions in Mobile, Fixed Line, Broadband and Video consumer offers. Through its business division, CWC provides data centre hosting, domestic and international managed network services, and customised IT service solutions, utilising cloud technology to serve business and government customers. The Group also operates a state-of-the-art subsea fibre optic cable network that spans more than 48,000 km -- the most extensive in the region -- as well as 38,000 km of terrestrial fibre providing wholesale and carrier backhaul capacity. CWC has more than 7,300 employees serving 6.4 million customers (Mobile 4.1m; Fixed Line 1.1m; Video 470k and Broadband 690k) across 42 countries. The Group's leading brands include; LIME and Flow in the Caribbean; BTC in The Bahamas; Mas Movil in Panama; C&W Business and C&W Networks. CWC is the market leader in most products offered and territories served. It is a major contributor to local communities through its corporate social responsibility programmes. Cable & Wireless Communications Plc's shares are quoted on the London Stock Exchange under the ticker CWC. The Group is headquartered in London with its operational hub located in Miami, within close proximity to the Caribbean and Latin America. For more information visit: www.cwc.com . Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=3013847 Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=3013865 Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=3013868 Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=3013871 Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=3013874 || Flow Celebrates Manchester United Victory With the Caribbean: BRIDGETOWN, BARBADOS--(Marketwired - May 26, 2016) - Manchester United (MUTD) fans were united in celebration on May 21 as they gathered at watch parties hosted by the region's leading quad-play provider, Flow, and witnessed the Red Devils hoist the FA Cup at Wembley Stadium after a thrilling 2-1 comeback victory over Crystal Palace. The story could not have been written better as the club's historic twelfth FA title was showcased at Flow's first-ever regional watch-party event -- just months after the two organizations entered into a multi-year partnership.
From Turks and Caicos to Trinidad and islands in between, Flow customers were able to attend the viewing parties after successfully winning the Company's "txt for a ticket" campaign. In each instance, numerous diehard MUTD fans turned up decked out in their Manchester United colours, and not only had an opportunity to watch the pivotal match, but were also treated to plenty of cool giveaways, which included official MUTD gear and merchandise. Some fans were even lucky enough to win brand-new smartphones after winning the "Text the Score" competition that took place during the match. By all accounts, in each location, the energy and excitement was palpable, with many attendees expressing their desire to attend similar events in the future. Indeed, the responses in general were glowing with positivity; in Antigua, for example, local sports talk show host Joseph "JoJo" Apparicio commended Flow for its "great initiative" to bring sports fans together and provide them with an electric environment to watch the ultimate game of the season. Others expressed similar sentiments, including one Barbadian, Rasheed Holder, who praised Flow's efforts for successfully organizing the event.
"Flow provided the perfect setting for what turned out to be the perfect match," said Holder. "The atmosphere was tremendous and the added elements that Flow provided made it all the more special. A big thank you to Flow for an awesome match day."
Justin Luke -- another attendee at the Barbados watch party -- said he regularly uses the Flow Football App to tune into weekend games, but said, "having the opportunity to attend such an awesome watch party was great. The place was packed and I was happy to meet the Flow team who made sure we all enjoyed every minute of the match. Manchester United getting a late goal made it all the more special."
Offering his congratulations to MUTD, on behalf of Flow, Managing Director of Flow Barbados, Niall Sheehy, had this to say:
"Huge congratulations to the folks at Manchester United for capturing yet another FA Cup title. This triumph was celebrated across the Caribbean and Flow is especially pleased to be bringing regional football fans that much closer to all the action."
The watch-party initiative was a follow up to the exclusive, multi-year deal that Flow signed with MUTD earlier this year. This partnership offers Caribbean football fans real time updates and news via Red Alerts (the football club's official SMS), as well as unique experiences like the chance to win tickets to MUTD games, signed merchandise and even interactions with MUTD legends such as club ambassadors Bryan Robson, Andy Cole and Dwight Yorke.
In addition to its deal with MUTD, Flow has formed other strategic partnerships to bring amazing sporting content to the region, including the Barclays Premier League and the upcoming 2016 Rio Olympic Games. By giving customers access to MUTD content and more "on the go" via mobile, tablets and desktop devices, as well as through the Flow ToGo app, Flow is the "Home of Sports in the Caribbean."
www.manutd.com
About Cable & Wireless Communications Plc
Cable & Wireless Communications Plc (CWC) is a full service communications and entertainment provider, operating in Latin America and the Caribbean. With annual sales of over US$2.4 billion, it operates both mobile and fixed networks, supported by submarine and terrestrial optical fibre backhaul capacity. CWC delivers superior high-speed mobile data, broadband and video services. It has leading market positions in Mobile, Fixed Line, Broadband and Video consumer offers. Through its business division, CWC provides data centre hosting, domestic and international managed network services, and customised IT service solutions, utilising cloud technology to serve business and government customers.
The Group also operates a state-of-the-art subsea fibre optic cable network that spans more than 48,000 km -- the most extensive in the region -- as well as 38,000 km of terrestrial fibre providing wholesale and carrier backhaul capacity.
CWC has more than 7,300 employees serving 6.4 million customers (Mobile 4.1m; Fixed Line 1.1m; Video 470k and Broadband 690k) across 42 countries. The Group's leading brands include; LIME and Flow in the Caribbean; BTC in The Bahamas; Mas Movil in Panama; C&W Business and C&W Networks. CWC is the market leader in most products offered and territories served. It is a major contributor to local communities through its corporate social responsibility programmes.
Cable & Wireless Communications Plc's shares are quoted on the London Stock Exchange under the ticker CWC. The Group is headquartered in London with its operational hub located in Miami, within close proximity to the Caribbean and Latin America.For more information visit:www.cwc.com.
Image Available:http://www2.marketwire.com/mw/frame_mw?attachid=3013847Image Available:http://www2.marketwire.com/mw/frame_mw?attachid=3013865Image Available:http://www2.marketwire.com/mw/frame_mw?attachid=3013868Image Available:http://www2.marketwire.com/mw/frame_mw?attachid=3013871Image Available:http://www2.marketwire.com/mw/frame_mw?attachid=3013874 || Santander says first UK bank to use blockchain for overseas payments: By Andrew MacAskill and Huw Jones LONDON (Reuters) - Santander is the first British bank to start using the technology behind virtual currency Bitcoin for recording international payments, and may start rolling out the service to customers next year, the head of innovation at its UK arm said.Blockchain, or distributed ledger technology, creates a shared database in which participants can trace every transaction ever conducted. Its proponents say it has the potential to shake up how financial markets operate.Santander said about 6,000 staff in Britain would be eligible to begin using the technology internally in a pilot program that aims to make the transfer of money faster, more accurate and more transparent. The technology may eventually allow banks to settle the estimated annual $26 trillion of international transactions almost instantaneously. That compares with settlement times of days under the current systems used by banks. "The main customer benefits are certainty of timing, so you know when the payment is going to arrive and certainty of value," said Ed Metzger, head of innovation, technology and operations at Santander UK.Metzger said at the moment when customers transfer money overseas the charges between banks and delivery times are estimates, whereas with this technology when a customer hits send that will be the amount that reaches the recipient account. Blockchain is part of the growing financial technology sector being encouraged by Britain to keep the country's financial sector competitive with New York and Singapore. Santander and other banks such as Citi, BNP Paribas and Goldman Sachs are investing in the sector to avoid being left behind by start-ups racing to apply blockchain in payments, and clearing and settlement of trades. Santander's pilot, however, underscores how the speed that blockchain could offer is shackled by being slotted into slower, legacy payments systems. Metzger said unless all the banks are using the same technology then the "last mile" of its pilot using blockchain will use slower, existing payments links. In March, broker ICAP said it was the first to distribute data on trades to customers using blockchain. (Editing by Mark Potter) || Santander says first UK bank to use blockchain for overseas payments: By Andrew MacAskill and Huw Jones LONDON (Reuters) - Santander is the first British bank to start using the technology behind virtual currency Bitcoin for recording international payments, and may start rolling out the service to customers next year, the head of innovation at its UK arm said.Blockchain, or distributed ledger technology, creates a shared database in which participants can trace every transaction ever conducted. Its proponents say it has the potential to shake up how financial markets operate.Santander said about 6,000 staff in Britain would be eligible to begin using the technology internally in a pilot program that aims to make the transfer of money faster, more accurate and more transparent. The technology may eventually allow banks to settle the estimated annual $26 trillion of international transactions almost instantaneously. That compares with settlement times of days under the current systems used by banks. "The main customer benefits are certainty of timing, so you know when the payment is going to arrive and certainty of value," said Ed Metzger, head of innovation, technology and operations at Santander UK.Metzger said at the moment when customers transfer money overseas the charges between banks and delivery times are estimates, whereas with this technology when a customer hits send that will be the amount that reaches the recipient account. Blockchain is part of the growing financial technology sector being encouraged by Britain to keep the country's financial sector competitive with New York and Singapore. Santander and other banks such as Citi, BNP Paribas and Goldman Sachs are investing in the sector to avoid being left behind by start-ups racing to apply blockchain in payments, and clearing and settlement of trades. Santander's pilot, however, underscores how the speed that blockchain could offer is shackled by being slotted into slower, legacy payments systems. Metzger said unless all the banks are using the same technology then the "last mile" of its pilot using blockchain will use slower, existing payments links. In March, broker ICAP said it was the first to distribute data on trades to customers using blockchain. (Editing by Mark Potter) || Santander says first UK bank to use blockchain for overseas payments: By Andrew MacAskill and Huw Jones LONDON (Reuters) - Santander is the first British bank to start using the technology behind virtual currency Bitcoin for recording international payments, and may start rolling out the service to customers next year, the head of innovation at its UK arm said.Blockchain, or distributed ledger technology, creates a shared database in which participants can trace every transaction ever conducted. Its proponents say it has the potential to shake up how financial markets operate.Santander said about 6,000 staff in Britain would be eligible to begin using the technology internally in a pilot program that aims to make the transfer of money faster, more accurate and more transparent. The technology may eventually allow banks to settle the estimated annual $26 trillion of international transactions almost instantaneously. That compares with settlement times of days under the current systems used by banks. "The main customer benefits are certainty of timing, so you know when the payment is going to arrive and certainty of value," said Ed Metzger, head of innovation, technology and operations at Santander UK.Metzger said at the moment when customers transfer money overseas the charges between banks and delivery times are estimates, whereas with this technology when a customer hits send that will be the amount that reaches the recipient account. Blockchain is part of the growing financial technology sector being encouraged by Britain to keep the country's financial sector competitive with New York and Singapore. Santander and other banks such as Citi, BNP Paribas and Goldman Sachs are investing in the sector to avoid being left behind by start-ups racing to apply blockchain in payments, and clearing and settlement of trades. Santander's pilot, however, underscores how the speed that blockchain could offer is shackled by being slotted into slower, legacy payments systems. Metzger said unless all the banks are using the same technology then the "last mile" of its pilot using blockchain will use slower, existing payments links. In March, broker ICAP said it was the first to distribute data on trades to customers using blockchain. (Editing by Mark Potter) || Santander says first UK bank to use blockchain for overseas payments: By Andrew MacAskill and Huw Jones
LONDON (Reuters) - Santander is the first British bank to start using the technology behind virtual currency Bitcoin for recording international payments, and may start rolling out the service to customers next year, the head of innovation at its UK arm said.Blockchain, or distributed ledger technology, creates a shared database in which participants can trace every transaction ever conducted. Its proponents say it has the potential to shake up how financial markets operate.Santander said about 6,000 staff in Britain would be eligible to begin using the technology internally in a pilot program that aims to make the transfer of money faster, more accurate and more transparent. The technology may eventually allow banks to settle the estimated annual $26 trillion of international transactions almost instantaneously. That compares with settlement times of days under the current systems used by banks. "The main customer benefits are certainty of timing, so you know when the payment is going to arrive and certainty of value," said Ed Metzger, head of innovation, technology and operations at Santander UK.Metzger said at the moment when customers transfer money overseas the charges between banks and delivery times are estimates, whereas with this technology when a customer hits send that will be the amount that reaches the recipient account.
Blockchain is part of the growing financial technology sector being encouraged by Britain to keep the country's financial sector competitive with New York and Singapore.
Santander and other banks such as Citi, BNP Paribas and Goldman Sachs are investing in the sector to avoid being left behind by start-ups racing to apply blockchain in payments, and clearing and settlement of trades.
Santander's pilot, however, underscores how the speed that blockchain could offer is shackled by being slotted into slower, legacy payments systems.
Metzger said unless all the banks are using the same technology then the "last mile" of its pilot using blockchain will use slower, existing payments links.
In March, broker ICAP said it was the first to distribute data on trades to customers using blockchain.
(Editing by Mark Potter) || Your first trade for Thursday, May 26: The "Fast Money" traders shared which moves they'd make at the U.S. market open.
Tim Seymour was a buyer of Schlumberger(NYSE: SLB).
Steve Grasso was a buyer of the VanEck Vectors Gold Miners ETF(NYSE Arca: GDX).
Brian Kelly was a buyer of the iShares Silver Trust.(NYSE Arca: SLV)
Guy Adami was a buyer of Starbucks(NASDAQ: SBUX).
Trader disclosure: On May 25, 2016 , the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders:Guy Adami is long CELG, EXAS, GDX, INTC, Guy Adami's wife, Linda Snow, works at Merck. Steve Grasso is long BA, CC, DD, DIS, EVGN, KBH, MJNA, MU, OLN, PFE, PHM, T, TWTR, GDX firm long AAPL, CVX, OXY, RIG Steve's kids own EFA, EFG, EWJ, IJR, SPY. Brian Kelly is long Bitcoin, US Dollar; he is short Australian Dollar, Euro, EWA, EWH, FRC, Hong Kong Dollar, IWM, Yuan Short: SPY and S&P 500 Futures. Tim Seymour is long AAPL, AVP, BAC, BBRY, CLF, DO, EDC, EWZ, F, FCX, FXI, GM, GOOGL, GRMN, GE, GLNCY, INTC, LQD, M, MCD, MPEL, NKE, RACE, RAI, RH, RL, SINA, T, TWTR, UA, VALE, VZ, XOM. Tim's firm is long ABX, BABA, BIDU, CLF, EWZ, F, HD, KO, MCD, MPEL, NKE, PEP, PF, SAVE, SBUX, SINA, VALE, VIAB, WMT, WEN, YHOO, short HYG, IWM, WYNN, XRT
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• Personal Finance || Your first trade for Thursday, May 26: The " Fast Money " traders shared which moves they'd make at the U.S. market open. Tim Seymour was a buyer of Schlumberger (NYSE: SLB) . Steve Grasso was a buyer of the VanEck Vectors Gold Miners ETF (NYSE Arca: GDX) . Brian Kelly was a buyer of the iShares Silver Trust. (NYSE Arca: SLV) Guy Adami was a buyer of Starbucks (NASDAQ: SBUX) . Trader disclosure: On May 25, 2016 , the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Guy Adami is long CELG, EXAS, GDX, INTC, Guy Adami's wife, Linda Snow, works at Merck. Steve Grasso is long BA, CC, DD, DIS, EVGN, KBH, MJNA, MU, OLN, PFE, PHM, T, TWTR, GDX firm long AAPL, CVX, OXY, RIG Steve's kids own EFA, EFG, EWJ, IJR, SPY. Brian Kelly is long Bitcoin, US Dollar; he is short Australian Dollar, Euro, EWA, EWH, FRC, Hong Kong Dollar, IWM, Yuan Short: SPY and S&P 500 Futures. Tim Seymour is long AAPL, AVP, BAC, BBRY, CLF, DO, EDC, EWZ, F, FCX, FXI, GM, GOOGL, GRMN, GE, GLNCY, INTC, LQD, M, MCD, MPEL, NKE, RACE, RAI, RH, RL, SINA, T, TWTR, UA, VALE, VZ, XOM. Tim's firm is long ABX, BABA, BIDU, CLF, EWZ, F, HD, KO, MCD, MPEL, NKE, PEP, PF, SAVE, SBUX, SINA, VALE, VIAB, WMT, WEN, YHOO, short HYG, IWM, WYNN, XRT More From CNBC Top News and Analysis Latest News Video Personal Finance || BTCS Provides Shareholder Update: ARLINGTON, VA--(Marketwired - May 25, 2016) -BTCS Inc.(OTCQB:BTCS) ("BTCS" or the "Company"), a blockchain technology focused company which secures the blockchain through its transaction verification services business, increased its Ethereum-mining hosting business to approximately 150 kilowatts ("kw"), up from approximately 50kw announced in March 2016.
"We have gained valuable expertise since launching our Ethereum pilot program in March," stated Charles Allen, CEO of BTCS. "Ethereum has rocketed to nearly 20% of the market cap of Bitcoin in less than two years, led by rapid adoption and growing support from major players in tech and finance including Gemini and Coinbase (which just rebranded to GDAX). We believe our experience, in connection with additional capital, should allow us to further expand our Ethereum mining and hosting businesses, to diversify our exposure to bitcoin, and to use more of our available power capacity."
Ethereum is a digital currency and blockchain platform focused on smart contract applications. Like bitcoin-based blockchain technologies, the decentralized network of Ethereum enables transactions without downtime, censorship, fraud, or third-party interference. Year to date, the value of Ether, the digital token or fuel that powers the Ethereum network, in USD terms, has grown over 1,300% the total value of all Ether, or market cap of Ether, surpassing $1 billion.
"With the year-to-date increase in the difficulty of mining Bitcoins, and the more attractive economics currently displayed by Ether, we've taken the opportunity to sell some of our early-generation ASIC ("application specific integrated circuit") servers," continued Allen. "We've also entered preliminary discussions with a designer of specialized Ether mining servers, and we're exploring the possibility of being the exclusive hardware assembler for that designer. Unlike ASIC servers, Ether mining servers utilize off the shelf computer hardware, custom software and can be made-to-order with limited capital investment. We have the space to operate the assembly business at our NC facility, and we are in talks to become the exclusive distributor. While we can provide no assurances that any partnership or relationship will materialize, we are currently hosting their first generation prototype servers. We plan to provide updates on this initiative as it develops."
Allen concluded, "In regards to Spondoolies-Tech Ltd., we are actively exploring potential claims we may have from prior investments and we will pursue all options ahead of the July hearing."
About BTCS:BTCS secures the blockchain through its transaction verification services business and plans to build a broader ecosystem to capitalize on opportunities in this fast growing industry. The blockchain is a decentralized public ledger and has the ability to fundamentally impact all industries on a global basis that rely on or utilize record keeping and require trust. BTCS continues to evaluate additional blockchain technology consumer solutions. BTCS also actively partners and integrates with strategic digital currency and blockchain technology companies who provide products or services that are complementary to its business strategy. For more information visit:www.btcs.com
Forward-Looking Statements:Certain statements in this press release, including those related to an anticipated merger, constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company's filings with the Securities and Exchange Commission, not limited to Risk Factors relating to its digital currency business contained therein. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law. || BTCS Provides Shareholder Update: ARLINGTON, VA--(Marketwired - May 25, 2016) - BTCS Inc. ( OTCQB : BTCS ) ("BTCS" or the "Company"), a blockchain technology focused company which secures the blockchain through its transaction verification services business, increased its Ethereum-mining hosting business to approximately 150 kilowatts ("kw"), up from approximately 50kw announced in March 2016. "We have gained valuable expertise since launching our Ethereum pilot program in March," stated Charles Allen, CEO of BTCS. "Ethereum has rocketed to nearly 20% of the market cap of Bitcoin in less than two years, led by rapid adoption and growing support from major players in tech and finance including Gemini and Coinbase (which just rebranded to GDAX). We believe our experience, in connection with additional capital, should allow us to further expand our Ethereum mining and hosting businesses, to diversify our exposure to bitcoin, and to use more of our available power capacity." Ethereum is a digital currency and blockchain platform focused on smart contract applications. Like bitcoin-based blockchain technologies, the decentralized network of Ethereum enables transactions without downtime, censorship, fraud, or third-party interference. Year to date, the value of Ether, the digital token or fuel that powers the Ethereum network, in USD terms, has grown over 1,300% the total value of all Ether, or market cap of Ether, surpassing $1 billion. "With the year-to-date increase in the difficulty of mining Bitcoins, and the more attractive economics currently displayed by Ether, we've taken the opportunity to sell some of our early-generation ASIC ("application specific integrated circuit") servers," continued Allen. "We've also entered preliminary discussions with a designer of specialized Ether mining servers, and we're exploring the possibility of being the exclusive hardware assembler for that designer. Unlike ASIC servers, Ether mining servers utilize off the shelf computer hardware, custom software and can be made-to-order with limited capital investment. We have the space to operate the assembly business at our NC facility, and we are in talks to become the exclusive distributor. While we can provide no assurances that any partnership or relationship will materialize, we are currently hosting their first generation prototype servers. We plan to provide updates on this initiative as it develops." Story continues Allen concluded, "In regards to Spondoolies-Tech Ltd., we are actively exploring potential claims we may have from prior investments and we will pursue all options ahead of the July hearing." About BTCS: BTCS secures the blockchain through its transaction verification services business and plans to build a broader ecosystem to capitalize on opportunities in this fast growing industry. The blockchain is a decentralized public ledger and has the ability to fundamentally impact all industries on a global basis that rely on or utilize record keeping and require trust. BTCS continues to evaluate additional blockchain technology consumer solutions. BTCS also actively partners and integrates with strategic digital currency and blockchain technology companies who provide products or services that are complementary to its business strategy. For more information visit: www.btcs.com Forward-Looking Statements: Certain statements in this press release, including those related to an anticipated merger, constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company's filings with the Securities and Exchange Commission, not limited to Risk Factors relating to its digital currency business contained therein. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law. || Banks Considering Digital Safeguards Against Fraud In $4T Trade Financing Market: Banks around the globe don't have a uniform system of communication, which has allowed the prevalence of fraud in the financial world. Especially in the trade financing market, fraudulent paper invoices have caused millions of dollars in losses for companies and banks. According to Bloomberg , Standard Chartered PLC lost $193 million at China's Qingdao port two years ago, a Singaporean businessman allegedly used the same invoices for metal stockpiles multiple times with different banks for hundreds of millions, and fake invoices in 2008 cost JPMorgan Chase & Co. (NYSE: JPM ) almost $700 million. Banks are considering adopting a distributed-ledger technology similar to the software that backs bitcoin. A blockchain electronic ledger invoice service could potentially cut billions of dollars in costs for banks. It would also do away with paper invoices – the major source of fraud in the trade finance business. The main hurdle is: Are banks going to be willing to disclose their confidential transactions in order to form this system? Related Link: Can Bitcoin Resolve Central Bank Woes? HSBC Holdings plc (ADR) (NYSE: HSBC ) and Bank of America Corp (NYSE: BAC ) in separate emails mentioned that they are involved in the pursuit of blockchain projects, according to Bloomberg. The changing digital landscape of the finance industry is forcing banks to collaborate with each other. But in order for a common invoicing platform to be adopted across the board, common standards have to be agreed upon. Owen Jelf, managing director of Accenture's capital markets practice, said, "Think of it like putting seven people who speak seven different languages in one room and try to settle a problem, in this case how to settle a trade finance transfer." Infocomm Development Authority of Singapore, who is working closely with Standard Chartered and DBS, said, "Trade financing is borderless and banks that do adopt this technology will be able to benefit regardless of the country of origin." See more from Benzinga 8 Biggest Mid-Day Winners Bank Of America Initiates Coverage On Red Rock Resorts With A Buy Rating U.S. Lifts Arms Ban On Vietnam As Tensions Over The South China Sea Fester © 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. View comments || Banks Considering Digital Safeguards Against Fraud In $4T Trade Financing Market: Banks around the globe don't have a uniform system of communication, which has allowed the prevalence of fraud in the financial world. Especially in the trade financing market, fraudulent paper invoices have caused millions of dollars in losses for companies and banks. According to Bloomberg , Standard Chartered PLC lost $193 million at China's Qingdao port two years ago, a Singaporean businessman allegedly used the same invoices for metal stockpiles multiple times with different banks for hundreds of millions, and fake invoices in 2008 cost JPMorgan Chase & Co. (NYSE: JPM ) almost $700 million. Banks are considering adopting a distributed-ledger technology similar to the software that backs bitcoin. A blockchain electronic ledger invoice service could potentially cut billions of dollars in costs for banks. It would also do away with paper invoices – the major source of fraud in the trade finance business. The main hurdle is: Are banks going to be willing to disclose their confidential transactions in order to form this system? Related Link: Can Bitcoin Resolve Central Bank Woes? HSBC Holdings plc (ADR) (NYSE: HSBC ) and Bank of America Corp (NYSE: BAC ) in separate emails mentioned that they are involved in the pursuit of blockchain projects, according to Bloomberg. The changing digital landscape of the finance industry is forcing banks to collaborate with each other. But in order for a common invoicing platform to be adopted across the board, common standards have to be agreed upon. Owen Jelf, managing director of Accenture's capital markets practice, said, "Think of it like putting seven people who speak seven different languages in one room and try to settle a problem, in this case how to settle a trade finance transfer." Infocomm Development Authority of Singapore, who is working closely with Standard Chartered and DBS, said, "Trade financing is borderless and banks that do adopt this technology will be able to benefit regardless of the country of origin." See more from Benzinga 8 Biggest Mid-Day Winners Bank Of America Initiates Coverage On Red Rock Resorts With A Buy Rating U.S. Lifts Arms Ban On Vietnam As Tensions Over The South China Sea Fester © 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. View comments
[Social Media Buzz]
$473.00 #bitfinex;
$468.11 #bitstamp;
$467.99 #coinbase;
$464.70 #btce;
Prices & News: http://bit.ly/1VI6Yse
#bitcoin #btc || 1 #bitcoin = $8270.00 MXN | $448.36 USD #BitAPeso 1 USD = 18.44MXN http://www.bitapeso.com || Comment braquer 450 millions de dollars en bitcoins sans se faire choper: En 2014, 850 00... http://bit.ly/20LvNlR #Bitcoin #BitcoinFr || R.I.P. 4.723 BTC :: USD $2,235.00: A few days ago I went to withdraw some BTC from my wallet. I crea... http://bit.ly/1P4fDmJ #bitcoi...
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530.04, 526.23, 533.86, 531.39, 536.92, 537.97, 569.19, 572.73, 574.98, 585.54
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Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 8104.19, 8293.87, 8343.28, 8393.04, 8259.99, 8205.94, 8151.50, 7988.16, 8245.62, 8228.78, 8595.74, 8586.47, 8321.76, 8336.56, 8321.01, 8374.69, 8205.37, 8047.53, 8103.91, 7973.21, 7988.56, 8222.08, 8243.72, 8078.20, 7514.67, 7493.49, 8660.70, 9244.97, 9551.71, 9256.15, 9427.69, 9205.73, 9199.58, 9261.10, 9324.72, 9235.35, 9412.61, 9342.53, 9360.88, 9267.56, 8804.88, 8813.58, 9055.53, 8757.79, 8815.66, 8808.26, 8708.09, 8491.99, 8550.76, 8577.98, 8309.29, 8206.15, 8027.27, 7642.75, 7296.58, 7397.80, 7047.92, 7146.13, 7218.37, 7531.66, 7463.11, 7761.24, 7569.63, 7424.29, 7321.99, 7320.15, 7252.03, 7448.31, 7547.00, 7556.24, 7564.35, 7400.90, 7278.12, 7217.43, 7243.13, 7269.68, 7124.67, 7152.30, 6932.48, 6640.52, 7276.80, 7202.84, 7218.82, 7191.16, 7511.59, 7355.63, 7322.53, 7275.16, 7238.97, 7290.09.
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[Bitcoin Technical Analysis for 2019-12-27]
Volume: 22777360996, RSI (14-day): 47.75, 50-day EMA: 7636.50, 200-day EMA: 8272.44
[Wider Market Context]
Gold Price: 1513.80, Gold RSI: 70.09
Oil Price: 61.72, Oil RSI: 66.52
[Recent News (last 7 days)]
Twitter Bug Exposed Millions of User Phone Numbers: A security researcher was able to use a bug in the Twitter Android app to identify millions of Twitter users, connecting their phone numbers to their Twitter IDs. The exploit could expose failures in the company’s two-factor authentication system and give other security developers pause.
According to aTechCrunchreport, the researcher,Ibrahim Balic, created randomized lists of phone numbers and sent them to Twitter.
“If you upload your phone number, it fetches user data in return,” he said.
Related:New Ransomware Tactic: Pay Us or the World Sees Your Keys
The user data allowed Balic to find phone numbers for many major Twitter “celebrities” including the private number of a “senior Israeli politician.”
“Upon learning of this bug, we suspended the accounts used to inappropriately access people’s personal information. Protecting the privacy and safety of the people who use Twitter is our number one priority and we remain focused on rapidly stopping spam and abuse originating from use of Twitter’s APIs,” a Twitter spokesperson said.
The bug exposed user accounts when Balic uploaded millions of phone numbers and asked Twitter to match them with users. Typically this interface is used only when new users install the app on their phone but, using a set of API calls, Balic was able to spoof this behavior. The resulting breach of privacy – essentially connecting real numbers to real Twitter handles – could reduce the efficacy of two-factor authentication schemes popular on financial applications and wallets.
Image via Shutterstock.
• Crypto-Mining Attacks Fell Sharply in 2019 but Ransomware Is Trending: Kaspersky
• Jack Dorsey Announces New Twitter Team: Square Crypto, but for Social Media
• Nayuta Claims Its Android Lightning Wallet Is the First to Build in a Bitcoin Full Node || Twitter Bug Exposed Millions of User Phone Numbers: A security researcher was able to use a bug in the Twitter Android app to identify millions of Twitter users, connecting their phone numbers to their Twitter IDs. The exploit could expose failures in the company’s two-factor authentication system and give other security developers pause. According to a TechCrunch report, the researcher, Ibrahim Balic , created randomized lists of phone numbers and sent them to Twitter. “If you upload your phone number, it fetches user data in return,” he said. Related: New Ransomware Tactic: Pay Us or the World Sees Your Keys The user data allowed Balic to find phone numbers for many major Twitter “celebrities” including the private number of a “senior Israeli politician.” “Upon learning of this bug, we suspended the accounts used to inappropriately access people’s personal information. Protecting the privacy and safety of the people who use Twitter is our number one priority and we remain focused on rapidly stopping spam and abuse originating from use of Twitter’s APIs,” a Twitter spokesperson said. The bug exposed user accounts when Balic uploaded millions of phone numbers and asked Twitter to match them with users. Typically this interface is used only when new users install the app on their phone but, using a set of API calls, Balic was able to spoof this behavior. The resulting breach of privacy – essentially connecting real numbers to real Twitter handles – could reduce the efficacy of two-factor authentication schemes popular on financial applications and wallets. Image via Shutterstock. Related Stories Crypto-Mining Attacks Fell Sharply in 2019 but Ransomware Is Trending: Kaspersky Jack Dorsey Announces New Twitter Team: Square Crypto, but for Social Media Nayuta Claims Its Android Lightning Wallet Is the First to Build in a Bitcoin Full Node || YouTube Calls Crypto Purge a Mistake but Many Videos Still Missing: YouTube erroneously purged cryptocurrency education videos from its video-sharing platform this week but claims to have reinstated them, according to a spokesperson. Content creators, however, are telling a different story.
Responding to allegations it had intentionally deleted content from cryptocurrency education channels ChrisDunnTV, Crypto Tips, BTC Sessions and others in what apparently amounted to hundreds of missing videos, the spokesperson said YouTube made “the wrong call.”
“With the massive volume of videos on our site, sometimes we make the wrong call. When it’s brought to our attention that a video has been removed mistakenly, we act quickly to reinstate it. We also offer uploaders the ability to appeal removals and we will re-review the content,” the spokesperson said. YouTube has issued near-identical statements after previous inadvertent video purges.
Related:PewDiePie Helps Blockchain Video Streaming Platform to 67% Hike in Users
The spokesperson further stated YouTube has not changed any policies related to cryptocurrency videos.
In spite of this, some YouTubers claim their deleted videos remain inaccessible. Chris Dunn, who runs an investment education channel with 200,000 subscribers and a multi-year video library, says the purge has actually gotten worse since he successfully appealed his deletions.
“Today, YouTube not only took down the videos that they reinstated yesterday, but they took down at least one other video that they’d never taken down before,” Dunn said.
At press time a number of videos are still missing from Dunn’s channel and others that CoinDesk directly asked YouTube about, like Crypto Tips. YouTube has not yet responded to follow-up questions.
Related:Top YouTuber PewDiePie Joins Blockchain Live Streaming Platform
The conflicting statements are sure to increase the furious speculation over why YouTube deleted the videos in the first place. Multiple theories abound. Dunn said he has no idea why it occurred – not all of his deleted videos had to do with crypto – but said it could be the work of someone “maliciously reporting” him and others or, perhaps, faulty video-flagging AI.
Dunn said YouTube flagged videos as “harmful or dangerous content” and the “sale of regulated goods.” Dunn told CoinDesk he does not sell products on his channel and does not monetize his videos with ads.
Regardless of the whether the purge was intentional or not, Dunn said he and other content creators have noticed YouTube target content it deems objectionable to itself or its advertisers.
He pointed to YouTube’s demonetization of violent political videos, likefootage of the Hong Kong protests, and its recent terms of service update, which features a throwaway account termination clause with potentially far-reaching ramifications.
“YouTube may terminate your access, or your Google account’s access to all or part of the Service if YouTube believes, in its sole discretion, that provision of the Service to you is no longer commercially viable,” the Dec. 10 ToSupdatereads.
Dunn said he interprets that to mean YouTube can terminate creators who do not make it money.
He told CoinDesk he is seriously considering walking away from YouTube altogether. Contacted for additional comment Thursday, Dunn said he had a goodbye video ready to go and was only waiting for the situation to clear up.
Dunn’s plan, if he invokes that nuclear option is to move his content to “decentralized platforms” where no single entity exerts commercial control.
• YouTube Accused of Negligence in BitConnect Fraud Lawsuit
• Startup Raises $20 Million to Build ‘YouTube on the Blockchain’ || YouTube Calls Crypto Purge a Mistake but Many Videos Still Missing: YouTube erroneously purged cryptocurrency education videos from its video-sharing platform this week but claims to have reinstated them, according to a spokesperson. Content creators, however, are telling a different story. Responding to allegations it had intentionally deleted content from cryptocurrency education channels ChrisDunnTV, Crypto Tips, BTC Sessions and others in what apparently amounted to hundreds of missing videos, the spokesperson said YouTube made the wrong call. With the massive volume of videos on our site, sometimes we make the wrong call. When its brought to our attention that a video has been removed mistakenly, we act quickly to reinstate it. We also offer uploaders the ability to appeal removals and we will re-review the content, the spokesperson said. YouTube has issued near-identical statements after previous inadvertent video purges. Related: PewDiePie Helps Blockchain Video Streaming Platform to 67% Hike in Users The spokesperson further stated YouTube has not changed any policies related to cryptocurrency videos. In spite of this, some YouTubers claim their deleted videos remain inaccessible. Chris Dunn, who runs an investment education channel with 200,000 subscribers and a multi-year video library, says the purge has actually gotten worse since he successfully appealed his deletions. Today, YouTube not only took down the videos that they reinstated yesterday, but they took down at least one other video that theyd never taken down before, Dunn said. At press time a number of videos are still missing from Dunns channel and others that CoinDesk directly asked YouTube about, like Crypto Tips. YouTube has not yet responded to follow-up questions. Related: Top YouTuber PewDiePie Joins Blockchain Live Streaming Platform The conflicting statements are sure to increase the furious speculation over why YouTube deleted the videos in the first place. Multiple theories abound. Dunn said he has no idea why it occurred not all of his deleted videos had to do with crypto but said it could be the work of someone maliciously reporting him and others or, perhaps, faulty video-flagging AI. Story continues Dunn said YouTube flagged videos as harmful or dangerous content and the sale of regulated goods. Dunn told CoinDesk he does not sell products on his channel and does not monetize his videos with ads. Regardless of the whether the purge was intentional or not, Dunn said he and other content creators have noticed YouTube target content it deems objectionable to itself or its advertisers. He pointed to YouTubes demonetization of violent political videos, like footage of the Hong Kong protests , and its recent terms of service update, which features a throwaway account termination clause with potentially far-reaching ramifications. YouTube may terminate your access, or your Google accounts access to all or part of the Service if YouTube believes, in its sole discretion, that provision of the Service to you is no longer commercially viable, the Dec. 10 ToS update reads. Dunn said he interprets that to mean YouTube can terminate creators who do not make it money. He told CoinDesk he is seriously considering walking away from YouTube altogether. Contacted for additional comment Thursday, Dunn said he had a goodbye video ready to go and was only waiting for the situation to clear up. Dunns plan, if he invokes that nuclear option is to move his content to decentralized platforms where no single entity exerts commercial control. Related Stories YouTube Accused of Negligence in BitConnect Fraud Lawsuit Startup Raises $20 Million to Build YouTube on the Blockchain || Holiday Spending up 14.6% as E-Commerce Beats Brick-and-Mortar: E-commerce sales hit record highs this year as Americans continue to move their holiday shopping online.
According to Mastercard’sSpendingPulse report, online retail grew 18.8% over last year’s holiday season. That’s enough to make online sales a record 14.6% of holiday shoppers total spend, the report says.
Online consumers this year spent 17% more on apparel, 8.8% more on jewelry, 10.7% more on electronics, and 6.9% more at department stores.
Related:Tech Retailer Newegg Expands Bitcoin Payments to Another 73 Nations
Overall, holiday spending jumped 3.4% compared to 2018.
The strong numbers came in spite of 2019’s unusually short holiday season, commonly defined as the period between Thanksgiving and Christmas. Shoppers had six days fewer than they had in 2018.
Steve Sadove, an advisor for MasterCard, said in a press release that retailers adapted to the shortened season.
“Due to a later than usual Thanksgiving holiday, we saw retailers offering omnichannel sales earlier in the season, meeting consumers’ demand for the best deals across all channels and devices.”
Related:S.L. Benfica Is The First Major European Football Club To Accept Cryptocurrency
Interestingly – or ominously – retailers who accepted crypto or managed crypto payments were slow to respond when we asked them how their holiday shopping season went.eGifter, a gift card trading service, noted that it had not yet “crunched the numbers” on holiday sales but that “We saw growth in overall crypto sales,” said Bill Egan, the site’s VP of Marketing.
“We saw more gifting with crypto in 2019, compared to buy-for-self use cases in prior years,” he said.
Payment processor BitPay found the holidays quite inspiring as well.
“We saw twice our daily averages of processed volume leading up to the holiday,” said BitPay’s CMO, Bill Zielke.
It will be interesting to see what kind of statistics surface over the next few seasons as e-commerce becomes king and crypto payments come to the fore.
Photo byAdam NieściorukonUnsplash
• Coinbase’s Merchant App Hits $50 Million in Volume Since 2018 Launch
• Facebook in Talks to Build Ecosystem for Planned Stablecoin: WSJ || Crypto Custodians Grapple With Germany’s New Rules: Crypto firms in Germany are getting ready to exist under a new regime.
Under a law going into effect Jan. 1 requiring digital asset custodians to be licensed, each company that currently custodies crypto and targets German clients must announce to Germany’s Financial Supervisory Authority (BaFin) its intention to get a license before April 1 and submit an application before Nov. 1.
A clause allows current crypto custodians to keep serving German customers without being penalized if they declare their intent to apply, but those same companies are waiting on BaFin to release final regulations around the law.
Related:Crypto Firms Can Now Apply for a License in France
“As long as the legislation is not in place, BaFin is not going to think about how to cope or how to deal with the legislation,” said BaFin press officer Norbert Pieper. The regulator declined further comment and Germany’s Federal Ministry of Finance did not respond to request for comment by press time.
Pieper added: “There is no date foreseeable [yet] by which we’ll be able to communicate the results of our assessment. We will certainly communicate that on our website.”
While the final regulations haven’t been set yet, the new license requirement may not produce the same kind of exodus of crypto firms that New York saw after the BitLicense requirement, said Miha Grčar, head of business development at Bitstamp.
London-based Bitstamp, one of Europe’s largest crypto exchanges, plans to continue operating in Germany but declined to say whether it would apply for a license, said Grčar. Crypto firms could also use a white-labeled custody service to operate in Germany.
Related:Bomb Threats Demanding Bitcoin Force Evacuations Across Russia
Because the law is an “updated version of the existing banking regulation,” banks will likely have the most to gain from it, Grčar added. Companies that get the license will be German financial institutions, but not classified as banks.
The law also means that German regulators now see crypto as a “legitimate” industry, he said.
Ulli Spankowski, chief digital officer and managing director of the crypto custody subsidiary of German stock exchange Boerse Stuttgart, called Blocknox, sees the license as a step forward for “the professionalism of the industry.” The subsidiary has already advised BaFin that it plans to apply.
“There are other countries that won’t go for a full-fledged license,” he said. “If you want to get traditional, established players from the banking side, you need to give them this environment to feel safe.”
DLC group is taking advantage of the new regulatory framework by offering consulting services for firms interested in applying, and its own white-labeled crypto custody service.
Sven Hildebrandt, head of Distributed Ledger Consulting Group, is concerned some exchanges won’t understand the nuances of the new law.
“The law is only in German and no English translation of the law is out there,” he said. “What’s going to happen to exchanges? [Operating without a licence] is actually a felony and not a misdemeanor so that’s jail time.”
Hildebrandt predicts the costs of licensing will be similar to other German financial services licenses where firms will need two managing directors, an established German entity and 125,000 euros of starting capital. He also estimates installation will cost 250,000 to 350,000 euros and recurring yearly costs will be 350,000 euros.
Switzerland-based Crypto Storage AG, a subsidiary of Crypto Finance AG, is opening a branch in Germany to offer crypto custody to banks and then financial technology startups.
“Large banking houses will do custody business in the future,” Stijn Vander Straeten, CEO of Crypto Storage AG, said. “They are moving slowly, though. We’ll build it up now for a premium.”
Berlin-based solarisBank this monthopeneda subsidiary called solaris Digital Assets to offer crypto custody as a service. So far, the bank has a handful of customers testing the service with more than 40 companies in the pipeline, said Alexis Hamel, managing director of solaris Digital Assets.
In addition to waiting for details from BaFin, crypto firms are also waiting to see if the law can be passported to other European Union states.
“Germany is definitely at the forefront with the clearer regulation,” Hamel said. “We still need to see how other European countries level up.”
• 2020 Vision: 7 Trends Bringing Blockchain Into Focus in the Year Ahead
• Beyond Storage: How Custody Is Evolving to Meet Institutional Needs || Crypto Custodians Grapple With Germany’s New Rules: Crypto firms in Germany are getting ready to exist under a new regime. Under a law going into effect Jan. 1 requiring digital asset custodians to be licensed, each company that currently custodies crypto and targets German clients must announce to Germany’s Financial Supervisory Authority (BaFin) its intention to get a license before April 1 and submit an application before Nov. 1. A clause allows current crypto custodians to keep serving German customers without being penalized if they declare their intent to apply, but those same companies are waiting on BaFin to release final regulations around the law. Related: Crypto Firms Can Now Apply for a License in France “As long as the legislation is not in place, BaFin is not going to think about how to cope or how to deal with the legislation,” said BaFin press officer Norbert Pieper. The regulator declined further comment and Germany’s Federal Ministry of Finance did not respond to request for comment by press time. Pieper added: “There is no date foreseeable [yet] by which we’ll be able to communicate the results of our assessment. We will certainly communicate that on our website.” While the final regulations haven’t been set yet, the new license requirement may not produce the same kind of exodus of crypto firms that New York saw after the BitLicense requirement, said Miha Grčar, head of business development at Bitstamp. London-based Bitstamp, one of Europe’s largest crypto exchanges, plans to continue operating in Germany but declined to say whether it would apply for a license, said Grčar. Crypto firms could also use a white-labeled custody service to operate in Germany. Related: Bomb Threats Demanding Bitcoin Force Evacuations Across Russia Because the law is an “updated version of the existing banking regulation,” banks will likely have the most to gain from it, Grčar added. Companies that get the license will be German financial institutions, but not classified as banks. Story continues The law also means that German regulators now see crypto as a “legitimate” industry, he said. Ulli Spankowski, chief digital officer and managing director of the crypto custody subsidiary of German stock exchange Boerse Stuttgart, called Blocknox, sees the license as a step forward for “the professionalism of the industry.” The subsidiary has already advised BaFin that it plans to apply. “There are other countries that won’t go for a full-fledged license,” he said. “If you want to get traditional, established players from the banking side, you need to give them this environment to feel safe.” DLC group is taking advantage of the new regulatory framework by offering consulting services for firms interested in applying, and its own white-labeled crypto custody service. Sven Hildebrandt, head of Distributed Ledger Consulting Group, is concerned some exchanges won’t understand the nuances of the new law. “The law is only in German and no English translation of the law is out there,” he said. “What’s going to happen to exchanges? [Operating without a licence] is actually a felony and not a misdemeanor so that’s jail time.” Hildebrandt predicts the costs of licensing will be similar to other German financial services licenses where firms will need two managing directors, an established German entity and 125,000 euros of starting capital. He also estimates installation will cost 250,000 to 350,000 euros and recurring yearly costs will be 350,000 euros. Switzerland-based Crypto Storage AG, a subsidiary of Crypto Finance AG, is opening a branch in Germany to offer crypto custody to banks and then financial technology startups. “Large banking houses will do custody business in the future,” Stijn Vander Straeten, CEO of Crypto Storage AG, said. “They are moving slowly, though. We’ll build it up now for a premium.” Berlin-based solarisBank this month opened a subsidiary called solaris Digital Assets to offer crypto custody as a service. So far, the bank has a handful of customers testing the service with more than 40 companies in the pipeline, said Alexis Hamel, managing director of solaris Digital Assets. In addition to waiting for details from BaFin, crypto firms are also waiting to see if the law can be passported to other European Union states. “Germany is definitely at the forefront with the clearer regulation,” Hamel said. “We still need to see how other European countries level up.” Related Stories 2020 Vision: 7 Trends Bringing Blockchain Into Focus in the Year Ahead Beyond Storage: How Custody Is Evolving to Meet Institutional Needs || Binance Blockade of Wasabi Wallet Could Point to a Crypto Crack-Up: 2020 may see cryptos most consequential fork yet: A split between regulated exchanges and privacy-focused users. Late last week, Binances Singapore arm threw crypto Twitter into a frenzy with reports that it had allegedly suspended one users account. The problem? That user, @bittlecat , had tried sending their bitcoin to the hash-scrambling Wasabi wallet in an apparent violation of Binance SGs anti-money-laundering (AML) policies. Binance SG refused to transact directly or indirectly with a variety of often illicit-tied crypto services, especially darknet/mixer sites, according to @bittlecats tweets of their email exchange with Binance SG support. Related: Paraguay Audits Local Crypto Industry to Prepare for FATF-Style Regulations @bittlecats suspension was temporary. But if Binance SGs anti-mixing policy holds especially if it spreads to other exchanges developers and observers say it could cut the crypto ecosystem in two. I think the exchanges are slowly coming to a crossroads, said Gergely Hajdu, a developer with Wasabi wallet. Users of privacy-enhanced wallets may find it ever-harder to move coins to and from regulated exchanges. Some exchanges may be completely foreclosed, Hajdu said. It will be so bad that I cant express. Related: A Third of Crypto Exchanges Have Little or No KYC, Says CipherTrace On one side of this chasm: the crypto service providers embracing oversight from their local regulators and global watchdogs like the Financial Action Task Force (FATF). And on the other side: privacy-conscious users, some of whom turn to shadowy-but-not-necessarily-illegal coin mixing services to shield what they hold. The big picture is more regulation is coming, and its gonna make this look, pretty normal in a couple of years, said Tom Maxon, Head of U.S. operations for blockchain security company CoolBitX. A regulatory sprint Observers see this as one battle in the larger war to determine cryptos direction. There are the spaces early ideals, its proponents preaching as they did a decade ago, that bitcoin will bring privacy and financial autonomy to millions irrespective of borders. Bitcoin, it was said, could be the decentralized answer to a world in seemingly constant consolidation mode. Bitcoin could be traded peer-to-peer. Bought on exchanges. Shuffled between wallets (essentially digital bank accounts) that carried no personal identifiers. Mixed on services like Wasabi Wallet to make tracing it hard. But that vision never sat well with governments. Nor with their regulators, wary of a financial instrument they could not control. Story continues Regulators are not comfortable with gray, Maxon said. And as millions then billions of dollars began flowing into bitcoin and other crypto assets, chief players around the globe began pushing for some way to regulate it. The laws came slowly at first. Now, however, intergovernmental organizations like the FATF have set the world up for a regulatory sprint . FATFs June guidance on a risk-based approach for virtual assets and virtual asset service providers gave financial regulators the world over a unified understanding upon which police the space. FATFs guidance hardly bans virtual assets. Nor does its global framework rule out mixing services. But it highlights their money-laundering risks, teeing up regional rule-makers for a crackdown on obfuscatory technologies that governments like Singapores have hinted at . Maxons firm is developing a tool to help exchanges deal with the FATFs travel rule, an outcome of the June guidance that pushes virtual asset service providers to share reams of customer data much like the requirements traditional banks face. He sees the potential split as almost inevitable. The regulators are going to move this forward more swiftly than weve seen before, Maxon said. And then the ramifications, like these other services like mixers are going to be harder to use. Its that kind of stuff thats going to peter out over the coming years. Mixing in the gray zone Mixing obscures the path ones cryptocurrency takes; in the case of Hajdus Wasabi wallet, a Chaumian CoinJoin mixer scrambles multiple parties unspent transaction outputs (UTXO) into a nearly untraceable cryptographic mess. Put simply: multiple parties send their coins to multiple receivers in one transaction, making it hard to suss out who sent what to whom. The Monetary Authority of Singapore (MAS) has not thrown out mixing entirely. Its webpage on the FATF guidelines does, though, say that virtual asset service providers should take careful note of factors that could obfuscate transactions. But Binances global public relations head Leah Li said in an email statement that its Singapore exchange was following regulators lead. Binance SG operates under the requirements as set forth by MAS and our MAS regulated partner, Xfers. Hence there are AML CFT controls set in place for the Binance SG and the user triggered one of its risk control mechanisms, Li said. Casey Bohn, a law enforcement educator with Americas National White Collar Crime Center, said MAS hint-hint-nudge-nudge is more than enough for companies like Binance. From a corporate perspective, its a lot easier for me as a regulated money business to have a policy saying, Hey man, were not going to allow this [activity] even though its perfectly legal because we dont want heat from the regulators, said Bohn. Bohn said he believes the public has an inherent right to financial privacy. And though his cryptocurrency investigations often rely on the bitcoin blockchain, he nonetheless supports an individuals desire to live off the map. By the same token, he is skeptical that exchanges should be calling the shots over whats permissible, and whats not. He points out that right now an exchange has no way of knowing who controls a destined account once its user withdraws. Lets say the exchange takes action against me based only on their assumption that the next wallet is still under my possession. Do we really want the technology corporations to be the arbiter? he said. Real-time tracing Binance contracts with third-party service providers like Chainalysis to help it trace crypto transactions. These crypto-sleuths develop hefty tools to track asset movements; Chainalysis Know-Your-Transaction (KYT) software does so in real time . Wasabi transactions have a pretty unique identifier that makes it very easy to identify them in numerous ways, according to Wasabi developer Bálint Harmat. But he insisted that his mixer, and others, are not inherently illegal. He also noted that Wasabi has reached out to Binance and Chainalysis to clarify the situation and prevent future issues. A spokesperson for Chainalysis echoed that sentiment in an email statement. While mixers themselves are not illegal, we know that stolen funds from hacks and scams are often laundered through mixers. We recommend that our cryptocurrency exchange customers configure Chainalysis KYT to flag large transfers or high-velocity small transfers from mixers for further investigation because it could prevent criminals from cashing out stolen funds. Regulatory gears are already moving in radically anti-anonymity directions. Maxon, the CoolBitX executive, said FATFs travel rule will have the most visible and immediate repercussions. Exchanges, he said, will develop user-filled forms built into their interface. Who are you sending this crypto transaction to? What is their name? What is their account number on that exchange? he said, illustrating how those forms will appear. I think even people who are not that privacy-minded will think: Oh crypto is not decentralized anymore, Maxon said. It never really was on the centralized exchanges, but it kind of breaks the spell. Related Stories Another Crypto Exchange Is Dropping Privacy Coin Monero Over Compliance Risk Shyft Adds FATF Veterans as Advisors for Its Crypto Compliance Product View comments || Binance Blockade of Wasabi Wallet Could Point to a Crypto Crack-Up: 2020 may see crypto’s most consequential fork yet: A split between regulated exchanges and privacy-focused users.
Late last week, Binance’s Singapore arm threw crypto Twitter into a frenzy with reports that it had allegedly suspended one user’s account. The problem? That user,@bittlecat, had tried sending their bitcoin to the hash-scrambling Wasabi wallet in an apparent violation of Binance SG’s anti-money-laundering (AML) policies.
Binance SG refused to transact “directly or indirectly” with a variety of often illicit-tied crypto services, “especially darknet/mixer sites,” according to @bittlecat’s tweets of their email exchange with Binance SG support.
Related:Paraguay Audits Local Crypto Industry to Prepare for FATF-Style Regulations
@bittlecat’s suspension was temporary. But if Binance SG’s anti-mixing policy holds – especially if it spreads to other exchanges – developers and observers say it could cut the crypto ecosystem in two.
“I think the exchanges are slowly coming to a crossroads,” said Gergely Hajdu, a developer with Wasabi wallet.
Users of privacy-enhanced wallets may find it ever-harder to move coins to and from regulated exchanges.
“Some exchanges may be completely foreclosed,” Hajdu said. “It will be so bad that I can’t express.”
Related:A Third of Crypto Exchanges Have Little or No KYC, Says CipherTrace
On one side of this chasm: the crypto service providers embracing oversight from their local regulators and global watchdogs like the Financial Action Task Force (FATF). And on the other side: privacy-conscious users, some of whom turn to shadowy-but-not-necessarily-illegal coin mixing services to shield what they hold.
“The big picture is more regulation is coming, and it’s gonna make this look, pretty normal in a couple of years,” said Tom Maxon, Head of U.S. operations for blockchain security company CoolBitX.
Observers see this as one battle in the larger war to determine crypto’s direction.
There are the space’s early ideals, its proponents preaching as they did a decade ago, that bitcoin will bring privacy and financial autonomy to millions – irrespective of borders. Bitcoin, it was said, could be the decentralized answer to a world in seemingly constant consolidation mode.
Bitcoin could be traded peer-to-peer. Bought on exchanges. Shuffled between wallets (essentially digital bank accounts) that carried no personal identifiers. Mixed on services like Wasabi Wallet to make tracing it hard.
But that vision never sat well with governments. Nor with their regulators, wary of a financial instrument they could not control.
“Regulators are not comfortable with gray,” Maxon said.
And as millions – then billions – of dollars began flowing into bitcoin and other crypto assets, chief players around the globe began pushing for some way to regulate it.
The laws came slowly at first. Now, however, intergovernmental organizations like the FATF have set the world up for aregulatory sprint. FATF’s June guidance on a “risk-based approach for virtual assets and virtual asset service providers” gave financial regulators the world over a unified understanding upon which police the space.
FATF’s guidance hardly bans “virtual assets.” Nor does its global framework rule out “mixing services.” But it highlights their money-laundering risks, teeing up regional rule-makers for a crackdown on “obfuscatory” technologies that governments like Singapore’s havehinted at.
Maxon’s firm is developing a tool to help exchanges deal with the FATF’s travel rule, an outcome of the June guidance that pushes “virtual asset service providers” to share reams of customer data – much like the requirements traditional banks face. He sees the potential split as almost inevitable.
“The regulators are going to move this forward more swiftly than we’ve seen before,” Maxon said. “And then the ramifications, like these other services like mixers are going to be harder to use. It’s that kind of stuff that’s going to peter out over the coming years.”
Mixing obscures the path one’s cryptocurrency takes; in the case of Hajdu’s Wasabi wallet, a Chaumian CoinJoin mixer scrambles multiple parties’ unspent transaction outputs (UTXO) into a nearly untraceable cryptographic mess. Put simply: multiple parties send their coins to multiple receivers in one transaction, making it hard to suss out who sent what to whom.
The Monetary Authority of Singapore (MAS) has not thrown out mixing entirely. Itswebpageon the FATF guidelines does, though, say that virtual asset service providers should take careful note of “factors that could obfuscate transactions.”
But Binance’s global public relations head Leah Li said in an email statement that its Singapore exchange was following regulators’ lead.
“Binance SG operates under the requirements as set forth by MAS and our MAS regulated partner, Xfers. Hence there are AML CFT controls set in place for the Binance SG and the user triggered one of its risk control mechanisms,” Li said.
Casey Bohn, a law enforcement educator with America’s National White Collar Crime Center, said MAS’ hint-hint-nudge-nudge is more than enough for companies like Binance.
“From a corporate perspective, it’s a lot easier for me as a regulated money business to have a policy saying, ‘Hey man, we’re not going to allow this [activity] even though it’s perfectly legal because we don’t want heat from the regulators,” said Bohn.
Bohn said he believes the public has an inherent right to financial privacy. And though his cryptocurrency investigations often rely on the bitcoin blockchain, he nonetheless supports an individual’s desire to live off the map.
By the same token, he is skeptical that exchanges should be calling the shots over what’s permissible, and what’s not. He points out that right now an exchange has no way of knowing who controls a destined account once its user withdraws.
“Let’s say the exchange takes action against me based only on their assumption that the next wallet is still under my possession. Do we really want the technology corporations to be the arbiter?” he said.
Binance contracts with third-party service providers like Chainalysis to help it trace crypto transactions. These crypto-sleuths develop hefty tools to track asset movements; Chainalysis’ “Know-Your-Transaction” (KYT) software does so inreal time.
Wasabi transactions have a “pretty unique” identifier that makes it “very easy to identify them in numerous ways,” according to Wasabi developer Bálint Harmat. But he insisted that his mixer, and others, are not inherently illegal. He also noted that Wasabi has reached out to Binance and Chainalysis to clarify the situation and prevent future issues.
A spokesperson for Chainalysis echoed that sentiment in an email statement.
“While mixers themselves are not illegal, we know that stolen funds from hacks and scams are often laundered through mixers. We recommend that our cryptocurrency exchange customers configure Chainalysis KYT to flag large transfers or high-velocity small transfers from mixers for further investigation because it could prevent criminals from cashing out stolen funds.”
Regulatory gears are already moving in radically anti-anonymity directions. Maxon, the CoolBitX executive, said FATF’s travel rule will have the most visible and immediate repercussions. Exchanges, he said, will develop user-filled forms built into their interface.
“Who are you sending this crypto transaction to? What is their name? What is their account number on that exchange?” he said, illustrating how those forms will appear.
“I think even people who are not that privacy-minded will think: “Oh crypto is not decentralized anymore,” Maxon said. “It never really was on the centralized exchanges, but it kind of breaks the spell.”
• Another Crypto Exchange Is Dropping Privacy Coin Monero Over Compliance Risk
• Shyft Adds FATF Veterans as Advisors for Its Crypto Compliance Product || Two firms team up to facilitate buying of bitcoin and ether via Telegram: Fiat gateway infrastructure provider Simplex has partnered with cryptocurrency wallet provider Broxus to facilitate buying of bitcoin (BTC) and ether (ETH) directly via Telegram. The service is based on Telegram bot @broxusbot, Simplex told The Block, adding that users can purchase the two cryptocurrencies with a regular bank card via the bot. Users are then routed to checkout with Simplex, who takes care of the authorization, payment processing and delivery of cryptocurrencies, said the firm, which is one of Binance's fiat gateway partners. "To achieve our mission of enhancing crypto adoption and usability, we are working constantly to be present on any platform that users can engage and use crypto on. The Broxus bot enables the masses of Telegram users with great user experience, coupled with the simplex secure and global fiat infrastructure for the crypto world," Nimrod Lehavi, founder and CEO of Simplex, told The Block. Broxus is backed by TON Ventures, a representative of the firm told The Block, adding: "Mission of Broxus Bot is to make cryptocurrency a commodity." Both Simplex and Broxus declined to share details on how many users have opted for the service and how much has been transacted in both BTC and ETH so far. Button Wallet also currently offers buying of crypto via Telegram. On the competitive edge, the Broxus representative said: “We have significantly better UI, convenient inline mode, invoices and vouchers, instant transfers, native support of GRAM and many other customer-oriented features.” || Two firms team up to facilitate buying of bitcoin and ether via Telegram: Fiat gateway infrastructure provider Simplex has partnered with cryptocurrency wallet provider Broxus to facilitate buying of bitcoin (BTC) and ether (ETH) directly via Telegram.
Theserviceis based on Telegram bot @broxusbot, Simplex told The Block, adding that users can purchase the two cryptocurrencies with a regular bank card via the bot.
Users are then routed to checkout with Simplex, who takes care of the authorization, payment processing and delivery of cryptocurrencies, said the firm, which is one of Binance's fiat gateway partners.
"To achieve our mission of enhancing crypto adoption and usability, we are working constantly to be present on any platform that users can engage and use crypto on. The Broxus bot enables the masses of Telegram users with great user experience, coupled with the simplex secure and global fiat infrastructure for the crypto world," Nimrod Lehavi, founder and CEO of Simplex, told The Block.
Broxus is backed by TON Ventures, a representative of the firm told The Block, adding: "Mission of Broxus Bot is to make cryptocurrency a commodity."Both Simplex and Broxus declined to share details on how many users have opted for the service and how much has been transacted in both BTC and ETH so far.
Button Walletalso currently offers buying of crypto via Telegram. On the competitive edge, the Broxus representative said: “We have significantly better UI, convenient inline mode, invoices and vouchers, instant transfers, native support of GRAM and many other customer-oriented features.” || Top five cryptocurrency guides of 2019: Whether you’re new to cryptocurrency or an experienced trader with years of experience, our guides offer you insights, tips, and support. Below, we take a look at our readers’ favourite cryptocurrency guides from 2019. 1) How to predict Bitcoin’s future value using the stock-to-flow model Our readers’ favourite cryptocurrency guide from 2019 was all about predicting Bitcoin’s future value. This guide covers how to use a stock-to-flow model as an effective analysis tool for future predictions. According to the stock-to-flow model, traders could see Bitcoin’s price mooning around the next halving event. Discover what the model is, how to use it, and how it can inform your trading decisions. 2) What is a Bitcoin private key? This cryptocurrency guide has proved popular with our readers who are new to buying Bitcoin. With details about how to keep your Bitcoin secure, this guide explains what a private key is, how it works, and why it’s important that you never share your private key with someone else. Your private key is essential for securing your Bitcoin. By losing it, or giving it away, you lose access to your wallet and by default your cryptocurrency. Whoever gains access to your private key would control your wallet and coins. Read this guide to find out how to protect your private key . 3) What is a cryptocurrency? Now that the cryptocurrency industry is well established, it seems that there are more newcomers than ever before. Whether they want to start trading or if they’re simply showing an interest in different coins, “What is a cryptocurrency?” still remains one of the biggest questions asked. This guide gives you all the answers you need . It explains what a cryptocurrency is, provides a brief history of the industry, and gives an introduction to blockchain – the underlying technology powering crypto. If you’re looking for a comprehensive introduction to cryptocurrency without a focus on specific coins, this is the guide for you. Story continues 4) Top five tools to master cryptocurrency trading If you’re looking to get into trading or if you’re looking to enhance your trading abilities, this cryptocurrency guide will help you on your way. The ultimate key to trading is risk management and choosing the right time to buy, but using tools will help to inform your trading decisions. Some tools help you to compare orders across exchanges to assess the overall confidence in the market. Take a look at which trading tools you should be using and how they can assist your trading performance. 5) What is OTC trading? The over-the-counter trading industry is one that’s easily misunderstood. That’s why this is one of our most popular cryptocurrency guides. It explains the OTC procedure, how buy and sell orders are fulfilled, and what role escrow agents play in the trading process. Discover whether or not OTC deals affect the price on exchanges , how the rate of discounts can be impacted, and whether or not the OTC market can give you any insights into market sentiment. The post Top five cryptocurrency guides of 2019 appeared first on Coin Rivet . || Top five cryptocurrency guides of 2019: Whether you’re new to cryptocurrency or an experienced trader with years of experience, our guides offer you insights, tips, and support. Below, we take a look at our readers’ favourite cryptocurrency guides from 2019. 1) How to predict Bitcoin’s future value using the stock-to-flow model Our readers’ favourite cryptocurrency guide from 2019 was all about predicting Bitcoin’s future value. This guide covers how to use a stock-to-flow model as an effective analysis tool for future predictions. According to the stock-to-flow model, traders could see Bitcoin’s price mooning around the next halving event. Discover what the model is, how to use it, and how it can inform your trading decisions. 2) What is a Bitcoin private key? This cryptocurrency guide has proved popular with our readers who are new to buying Bitcoin. With details about how to keep your Bitcoin secure, this guide explains what a private key is, how it works, and why it’s important that you never share your private key with someone else. Your private key is essential for securing your Bitcoin. By losing it, or giving it away, you lose access to your wallet and by default your cryptocurrency. Whoever gains access to your private key would control your wallet and coins. Read this guide to find out how to protect your private key . 3) What is a cryptocurrency? Now that the cryptocurrency industry is well established, it seems that there are more newcomers than ever before. Whether they want to start trading or if they’re simply showing an interest in different coins, “What is a cryptocurrency?” still remains one of the biggest questions asked. This guide gives you all the answers you need . It explains what a cryptocurrency is, provides a brief history of the industry, and gives an introduction to blockchain – the underlying technology powering crypto. If you’re looking for a comprehensive introduction to cryptocurrency without a focus on specific coins, this is the guide for you. Story continues 4) Top five tools to master cryptocurrency trading If you’re looking to get into trading or if you’re looking to enhance your trading abilities, this cryptocurrency guide will help you on your way. The ultimate key to trading is risk management and choosing the right time to buy, but using tools will help to inform your trading decisions. Some tools help you to compare orders across exchanges to assess the overall confidence in the market. Take a look at which trading tools you should be using and how they can assist your trading performance. 5) What is OTC trading? The over-the-counter trading industry is one that’s easily misunderstood. That’s why this is one of our most popular cryptocurrency guides. It explains the OTC procedure, how buy and sell orders are fulfilled, and what role escrow agents play in the trading process. Discover whether or not OTC deals affect the price on exchanges , how the rate of discounts can be impacted, and whether or not the OTC market can give you any insights into market sentiment. The post Top five cryptocurrency guides of 2019 appeared first on Coin Rivet . || Binance now allows adding Visa cards directly on its platform to buy crypto, including XRP: Cryptocurrency exchange Binance now has an option to directly add Visa debit and credit cards on its platform. The feature allows buying four cryptocurrencies - bitcoin (BTC), ether (ETH), Binances native token (BNB) and XRP - directly with Visa cards, according to an announcement Thursday. The exchange already supports the buying of crypto via debit and credit cards through third-party payment processors, such as Simplex . This option is a direct integration. At present, Visa cards issued within the 31 countries of the European Economic Area are supported, including the U.K., Germany, France, Greece, and Malta. Accordingly, two fiat currencies - euro (EUR) and British pound (GBP) - are supported. Binance said support for Mastercard cards and additional currencies will be added in the near future. || Binance now allows adding Visa cards directly on its platform to buy crypto, including XRP: Cryptocurrency exchange Binance now has an option to directly add Visa debit and credit cards on its platform.
The feature allows buying four cryptocurrencies - bitcoin (BTC), ether (ETH), Binance’s native token (BNB) and XRP - directly with Visa cards, according to anannouncementThursday.
The exchange already supports the buying of crypto via debit and credit cards through third-party payment processors, such asSimplex. This option is a direct integration.
At present, Visa cards issued within the 31 countries of the European Economic Area are supported, including the U.K., Germany, France, Greece, and Malta. Accordingly, two fiat currencies - euro (EUR) and British pound (GBP) - are supported.
Binance said support for Mastercard cards and additional currencies will be added “in the near future.” || The Ethereum Community Is No Longer Fighting With Itself: This post is part of CoinDesk’s 2019 Year in Review, a collection of 100 op-eds, interviews and takes on the state of blockchain and the world.Bob Summerwill is Executive Director of the Ethereum Classic Cooperative, a volunteer for the Ethereum Project and Community Ambassador for CryptoChicks.
2016 and 2017 were divisive years for the ethereum ecosystem. It would have been easy for onlookers to think “Look at all of this in-fighting and drama. The next web? The next revolution? I do not think so. Ethereum is going nowhere!”
They would have been dead-wrong in that assessment, as 2019 has demonstrated.
Related:Amir Taaki’s Ongoing Crypto Revolution
In January 2016, the former CTO of the ethereum project, Gavin Wood, spun off the former ETHDEV C++ team to found Ethcore – later renamed asParity Technologies. There has been an ongoing love-hate relationship between Parity and the rest of the Ethereum community ever since. This continues to the present day withits controversial proposalto move the Parity-Ethereum project into a DAO.
In July 2016, we had world class drama when The DAO was drained of funds. After a month of the most intense debate, the ecosystem was cleaved into two with The DAO Fork. The “World Computer” majority accepted the fork which returned funds. That fork retained the ETH “ticker” and the ethereum trademark while the “Code is Law” crew showed the world that minority chains can survive by supporting the un-forked chain and bringing Ethereum Classic to life.
In October 2016, Parity Technologiesblocked relicensing of cpp-ethereumto Apache 2.0 at the eleventh hour because it would have affected their commercial interests. They also feared that having IBM’s “nose under the tent” could have led to a chain split. That relicensing looked very likely to result in a huge swing towards ethereum within the Hyperledger consortium, which had been formed a little under a year before. Not to be.
Blocking the relicensing led indirectly to the creation of the Ethereum Enterprise Alliance (EEA), which emerged as a “Plan B” as the relicensing floundered. No grand alliance between Ethereum and Hyperledger was possible at that stage, but there were sufficient enterprises using ethereum for more formal collaboration to be worthwhile.
Related:Looking Backward to Build the Future: How Academia Is Shifting Its Blockchain Focus
So, February 2017 saw the founding of the EEA, including household names like Microsoft, Intel, JPMorgan, BNY Mellon and CME Group. The members were focused primarily on private and consortium chain scenarios. The birth of the EEA was a very tense affair, with serious worries that the Ethereum Foundation (EF) would flat out denounce the EEA. Vitalik Buterin was privately supportive, but did not attend the launch event in person. Instead, he sent in a pre-recorded video that made no mention of the EEA but spoke in generalities about business uses of ethereum. The EF itself made no formal statement. The tension was palpable in those early months.
Was the EEA an attempt at corporate capture of ethereum? Was the EEA just a front for ConsenSys (which was contributing most of the resources during that launch period and early stages of operation)? Parity was also notably absent, and indeed have never joined the EEA. Were the EEA and Hyperledger rivals? Was this just a proxy battle between Microsoft (a major backer of ethereum) and IBM (the prime mover within Hyperledger?)
The artificial boundary we have put in place in our minds between ‘public chains’ and ‘private chains’ is fading rapidly.
None of these fears were true. They were all the result of zero-sum thinking.
As Jeremy Miller said at the EEA Launch event, there was no reason why a suitably modular ethereum codebase should not meet all of these use-cases – public and private, permissioned or permissionless. An analogy could be drawn with the internet and intranets. Both have their uses. Deployment choices would just be configuration settings on common codebases.
That is just how things have played out.
That process started in February 2017, when Monax (a founding EEA member) contributed the first Ethereum Virtual Machine – Burrow (previously known as ErisDB) to Hyperledger – the first concrete step towards ethereum technology within Hyperledger. Burrow was integrated into Hyperledger Sawtooth (as Seth), and then into Hyperledger Fabric. EVM-in-Fabric was the primary display at the IBM booth at Consensus in May 2018.
In January 2018, I wrote atweetstormthat became the “Call for an End To Tribalism in Ethereum” keynote at the Ethereum Community Conference in Paris in March 2018. Kent Barton continued that theme with “Divided We Fail: The Irrational Insanity of Crypto Tribalism” in April 2018.
That Paris conference also saw thelaunch of the Ethereum Magiciansled by my former colleagues Jamie Pitts and Greg Colvin. That group of individuals sought to mature the governance around the ethereum protocol improvement process.
In October 2018,EEA and Hyperledger announcedthat they were becoming associate members of each others organizations, and would be collaborating on common projects. In April 2019 theToken Taxonomy Initiativewas launched, with Microsoft and IBM working together. In June 2019,Microsoft finally joined Hyperledger. Now we just need IBM to join the EEA (hint, hint)!
Tensions between the Ethereum Foundation and the EEA thawed in 2019, with Aya Miyaguchi, the Executive Director of the EF joining the Board of the EEA in August 2019, and the Mainnet Initiative being announced as a collaboration between the EF and the EEA.
In August 2019, ConsenSys announced that itwould be joining Hyperledgeras a premier member, with founder Joe Lubin joining the governing board. They announced that they would be contributing their Enterprise Ethereum client Pantheon (now renamed as Besu).
Three years after the failure of cpp-ethereum relicensing, we finally had a fully-fledged ETH mainnet client as part of Hyperledger. Besu was written in a mainstream enterprise language – Java, had permissive Apache 2.0 licensing and had mature governance under the Linux Foundation. It was built by a large team of world class software engineers, building to the specifications which the EEA had matured since 2017.
ETC Cooperative funded ETC support and that work was completed by ChainSafe in December 2019. There has been a period of growing collaboration between the ETC ecosystem and the ETH ecosystem in late 2018 and throughout 2019, after several years or hurt feelings and bitterness after “a bad divorce.” Virgil Griffith was key to that detente and has been an excellent friend to ETC.
As my friend John Wolpert said so well in his seminal “Bring on the Stateful Internet” blog post in August 2018:
“I wish we could take all the good work out there–the patterns each team in the blockchain space has explored for the past several years–and lop off all the brands, the flags, the preciousness we all get when looking at our own babies. We would see it all as a bag full of Legos, a set of potential standards converging on what we really need in order to build awesome new applications that transcend the limitations and troubling central control issues of client/server.”
The artificial boundary we have put in place in our minds between “public chains” and “private chains” is fading rapidly. All our different technologies, whether we call them blockchains, or DLTs, or distributed databases, should be interoperable.
One chain to rule them all is maximalist nonsense. Our future evidently has multiple chains. L1s and L2s. State channels, rollups, Plasma, Lightning, counterfactual instantiation, L2 privacy solutions, off chain compute, every type of consensus under the sun. Integration with legacy systems is critically important too. Blockchain is not a silver bullet.
At the close of 2019, we are in a completely different place than we were during the high drama of 2016. Former rivals (both within ethereum and across the broader enterprise blockchain ecosystem) are pulling together in a way that is a delightful contrast to the fractured landscape of the near past. Collaboration is proving the winning strategy over cut-throat competition. This trend will only accelerate into 2020.
Maturity of governance is also finally being seen as the critical foundation for collaboration which it truly is. The whole ecosystem is finally growing up.
In 2016 I wrote:
“We have the opportunity to build a set of technologies in the next few years which could have similar societal impacts as the Internet, the World Wide Web and open source languages, relational databases, etc. We are building a decentralized computing platform which every individual on Earth should benefit from.”
“These technologies need to reach into every nook and cranny of our computing fabric: big and small, public and private, independent and corporate; smartwatches to mainframes.”
“This is a large and ambitious undertaking that is addictive and all-consuming for many of us. Diversity of viewpoints, a broad spectrum of use-cases to mature the base technology, and an open and inclusive attitude and environment of collaboration will help us achieve our shared goals.”
In 2020, that dream is closer to becoming a reality. It is a sheer delight to have had such a front-row seat to this revolution. Bring it on!
• Out of the Ashes: Four Trends to Shape Crypto in 2020
• Corporations Need Bitcoin. They Just Don’t Know It Yet || The Ethereum Community Is No Longer Fighting With Itself: This post is part of CoinDesks 2019 Year in Review, a collection of 100 op-eds, interviews and takes on the state of blockchain and the world. Bob Summerwill is Executive Director of the Ethereum Classic Cooperative, a volunteer for the Ethereum Project and Community Ambassador for CryptoChicks. 2016 and 2017 were divisive years for the ethereum ecosystem. It would have been easy for onlookers to think Look at all of this in-fighting and drama. The next web? The next revolution? I do not think so. Ethereum is going nowhere! They would have been dead-wrong in that assessment, as 2019 has demonstrated. Related: Amir Taakis Ongoing Crypto Revolution In January 2016, the former CTO of the ethereum project, Gavin Wood, spun off the former ETHDEV C++ team to found Ethcore later renamed as Parity Technologies . There has been an ongoing love-hate relationship between Parity and the rest of the Ethereum community ever since. This continues to the present day with its controversial proposal to move the Parity-Ethereum project into a DAO. In July 2016, we had world class drama when The DAO was drained of funds. After a month of the most intense debate, the ecosystem was cleaved into two with The DAO Fork. The World Computer majority accepted the fork which returned funds. That fork retained the ETH ticker and the ethereum trademark while the Code is Law crew showed the world that minority chains can survive by supporting the un-forked chain and bringing Ethereum Classic to life. In October 2016, Parity Technologies blocked relicensing of cpp-ethereum to Apache 2.0 at the eleventh hour because it would have affected their commercial interests. They also feared that having IBMs nose under the tent could have led to a chain split. That relicensing looked very likely to result in a huge swing towards ethereum within the Hyperledger consortium, which had been formed a little under a year before. Not to be. Blocking the relicensing led indirectly to the creation of the Ethereum Enterprise Alliance (EEA), which emerged as a Plan B as the relicensing floundered. No grand alliance between Ethereum and Hyperledger was possible at that stage, but there were sufficient enterprises using ethereum for more formal collaboration to be worthwhile. Story continues Related: Looking Backward to Build the Future: How Academia Is Shifting Its Blockchain Focus So, February 2017 saw the founding of the EEA, including household names like Microsoft, Intel, JPMorgan, BNY Mellon and CME Group. The members were focused primarily on private and consortium chain scenarios. The birth of the EEA was a very tense affair, with serious worries that the Ethereum Foundation (EF) would flat out denounce the EEA. Vitalik Buterin was privately supportive, but did not attend the launch event in person. Instead, he sent in a pre-recorded video that made no mention of the EEA but spoke in generalities about business uses of ethereum. The EF itself made no formal statement. The tension was palpable in those early months. Was the EEA an attempt at corporate capture of ethereum? Was the EEA just a front for ConsenSys (which was contributing most of the resources during that launch period and early stages of operation)? Parity was also notably absent, and indeed have never joined the EEA. Were the EEA and Hyperledger rivals? Was this just a proxy battle between Microsoft (a major backer of ethereum) and IBM (the prime mover within Hyperledger?) The artificial boundary we have put in place in our minds between public chains and private chains is fading rapidly. None of these fears were true. They were all the result of zero-sum thinking. As Jeremy Miller said at the EEA Launch event, there was no reason why a suitably modular ethereum codebase should not meet all of these use-cases public and private, permissioned or permissionless. An analogy could be drawn with the internet and intranets. Both have their uses. Deployment choices would just be configuration settings on common codebases. That is just how things have played out. That process started in February 2017, when Monax (a founding EEA member) contributed the first Ethereum Virtual Machine Burrow (previously known as ErisDB) to Hyperledger the first concrete step towards ethereum technology within Hyperledger. Burrow was integrated into Hyperledger Sawtooth (as Seth), and then into Hyperledger Fabric. EVM-in-Fabric was the primary display at the IBM booth at Consensus in May 2018. In January 2018, I wrote a tweetstorm that became the Call for an End To Tribalism in Ethereum keynote at the Ethereum Community Conference in Paris in March 2018. Kent Barton continued that theme with Divided We Fail: The Irrational Insanity of Crypto Tribalism in April 2018. That Paris conference also saw the launch of the Ethereum Magicians led by my former colleagues Jamie Pitts and Greg Colvin. That group of individuals sought to mature the governance around the ethereum protocol improvement process. In October 2018, EEA and Hyperledger announced that they were becoming associate members of each others organizations, and would be collaborating on common projects. In April 2019 the Token Taxonomy Initiative was launched, with Microsoft and IBM working together. In June 2019, Microsoft finally joined Hyperledger . Now we just need IBM to join the EEA (hint, hint)! Tensions between the Ethereum Foundation and the EEA thawed in 2019, with Aya Miyaguchi, the Executive Director of the EF joining the Board of the EEA in August 2019, and the Mainnet Initiative being announced as a collaboration between the EF and the EEA. In August 2019, ConsenSys announced that it would be joining Hyperledger as a premier member, with founder Joe Lubin joining the governing board. They announced that they would be contributing their Enterprise Ethereum client Pantheon (now renamed as Besu). Three years after the failure of cpp-ethereum relicensing, we finally had a fully-fledged ETH mainnet client as part of Hyperledger. Besu was written in a mainstream enterprise language Java, had permissive Apache 2.0 licensing and had mature governance under the Linux Foundation. It was built by a large team of world class software engineers, building to the specifications which the EEA had matured since 2017. ETC Cooperative funded ETC support and that work was completed by ChainSafe in December 2019. There has been a period of growing collaboration between the ETC ecosystem and the ETH ecosystem in late 2018 and throughout 2019, after several years or hurt feelings and bitterness after a bad divorce. Virgil Griffith was key to that detente and has been an excellent friend to ETC. As my friend John Wolpert said so well in his seminal Bring on the Stateful Internet blog post in August 2018: I wish we could take all the good work out there the patterns each team in the blockchain space has explored for the past several years and lop off all the brands, the flags, the preciousness we all get when looking at our own babies. We would see it all as a bag full of Legos, a set of potential standards converging on what we really need in order to build awesome new applications that transcend the limitations and troubling central control issues of client/server. The artificial boundary we have put in place in our minds between public chains and private chains is fading rapidly. All our different technologies, whether we call them blockchains, or DLTs, or distributed databases, should be interoperable. One chain to rule them all is maximalist nonsense. Our future evidently has multiple chains. L1s and L2s. State channels, rollups, Plasma, Lightning, counterfactual instantiation, L2 privacy solutions, off chain compute, every type of consensus under the sun. Integration with legacy systems is critically important too. Blockchain is not a silver bullet. At the close of 2019, we are in a completely different place than we were during the high drama of 2016. Former rivals (both within ethereum and across the broader enterprise blockchain ecosystem) are pulling together in a way that is a delightful contrast to the fractured landscape of the near past. Collaboration is proving the winning strategy over cut-throat competition. This trend will only accelerate into 2020. Maturity of governance is also finally being seen as the critical foundation for collaboration which it truly is. The whole ecosystem is finally growing up. In 2016 I wrote : We have the opportunity to build a set of technologies in the next few years which could have similar societal impacts as the Internet, the World Wide Web and open source languages, relational databases, etc. We are building a decentralized computing platform which every individual on Earth should benefit from. These technologies need to reach into every nook and cranny of our computing fabric: big and small, public and private, independent and corporate; smartwatches to mainframes. This is a large and ambitious undertaking that is addictive and all-consuming for many of us. Diversity of viewpoints, a broad spectrum of use-cases to mature the base technology, and an open and inclusive attitude and environment of collaboration will help us achieve our shared goals. In 2020, that dream is closer to becoming a reality. It is a sheer delight to have had such a front-row seat to this revolution. Bring it on! Related Stories Out of the Ashes: Four Trends to Shape Crypto in 2020 Corporations Need Bitcoin. They Just Dont Know It Yet || Global Crypto Alliance (CALL) partners with Parachute (PAR) and gets listed on ParJar: VALLETTA, MALTA / ACCESSWIRE / December 26, 2019 / We are proud to announce that GCA and Parachute, the maker of the ParJar bot, have agreed to mutual cooperation. This will be beneficial for both parties as well as many crypto communities in an effort to make interfacing with cryptocurrencies less cumbersome and much more fun & attractive. "The vision of Parachute is a perfect match to GCA´s vision to make crypto easily available by reading or writing on GCA´s platform GCnews.io as well as understandable for everyone. And most important to make transfers/usability as easy as sending a text message to a friend." - René-M. Bogislawski, CEO of GCA. Both companies have begun working together to achieve this goal. The first step was to add CALL token, the first-ever ERC777, to the ParJar bot, smack dab in the mix with all major cryptocurrencies such as BTC and ETH. Moving forward, both companies will work together building upon this fresh foundation to bring the vision of mass adoption to fruition through the world's most popular messaging apps. With the combined knowledge of both teams and a shared interest in growing together, amazing solutions for usability that the average user needs will be rendered in a very timely manner. With the ParJar bot, you can already send tokens within many Telegram groups at no cost with just a tap. Make no mistake, this is only the beginning. Indeed, integrations with more messengers are already in the queue and with this mass adoption of crypto is right around the corner. "With over 25k active users and growing, Parachute welcomes joining forces with Global Crypto Alliance and listing CALL token on ParJar." stated Alexander Michelsen, Co-Founder of Parachute. About Pararchute Parachute is the group that brings you ParJar, the best way to share cryptocurrency instantly and without fees. ParJar makes cryptocurrency simple, fun and social. We look forward to our continued partnership and making crypto for everyone. Check out more at www.ParJar.io and www.parachutetoken.com Story continues About Global Crypto Alliance GCA constitutes a new kind of borderless organization with experienced professionals who are specialized in decentralized business development and blockchain ecosystems. The CALL ERC777 smart contract has rendered a multi-utility token that will be leveraged both inside & outside the GCNews ecosystem, facilitate voting competitions & economical Paydays, be a rewarding mechanism for GCAcademy, offer discounted rates to projects that acknowledge how ERC20 is soon to be superseded, and with its callback function will allow GCA to expand into additional business segments such as rental applications. https://gcalliance.io/ ; https://globalcryptonews.io/ ; https://gcsecurity.io/ Media Contact Name- René-M. Bogislawski Email- contact@gcalliance.io Website- https://gcalliance.io/ SOURCE: Global Crypto Alliance View source version on accesswire.com: https://www.accesswire.com/571343/Global-Crypto-Alliance-CALL-partners-with-Parachute-PAR-and-gets-listed-on-ParJar || Global Crypto Alliance (CALL) partners with Parachute (PAR) and gets listed on ParJar: VALLETTA, MALTA / ACCESSWIRE / December 26, 2019 /We are proud to announce that GCA and Parachute, the maker of the ParJar bot, have agreed to mutual cooperation. This will be beneficial for both parties as well as many crypto communities in an effort to make interfacing with cryptocurrencies less cumbersome and much more fun & attractive.
"The vision of Parachute is a perfect match to GCA´s vision to make crypto easily available by reading or writing on GCA´s platform GCnews.io as well as understandable for everyone. And most important to make transfers/usability as easy as sending a text message to a friend." - René-M. Bogislawski, CEO of GCA.
Both companies have begun working together to achieve this goal. The first step was to add CALL token, the first-ever ERC777, to the ParJar bot, smack dab in the mix with all major cryptocurrencies such as BTC and ETH.
Moving forward, both companies will work together building upon this fresh foundation to bring the vision of mass adoption to fruition through the world's most popular messaging apps. With the combined knowledge of both teams and a shared interest in growing together, amazing solutions for usability that the average user needs will be rendered in a very timely manner. With the ParJar bot, you can already send tokens within many Telegram groups at no cost with just a tap.
Make no mistake, this is only the beginning. Indeed, integrations with more messengers are already in the queue and with this mass adoption of crypto is right around the corner.
"With over 25k active users and growing, Parachute welcomes joining forces with Global Crypto Alliance and listing CALL token on ParJar." stated Alexander Michelsen, Co-Founder of Parachute.
About PararchuteParachute is the group that brings you ParJar, the best way to share cryptocurrency instantly and without fees. ParJar makes cryptocurrency simple, fun and social. We look forward to our continued partnership and making crypto for everyone. Check out more atwww.ParJar.ioandwww.parachutetoken.com
About Global Crypto AllianceGCA constitutes a new kind of borderless organization with experienced professionals who are specialized in decentralized business development and blockchain ecosystems. The CALL ERC777 smart contract has rendered a multi-utility token that will be leveraged both inside & outside the GCNews ecosystem, facilitate voting competitions & economical Paydays, be a rewarding mechanism for GCAcademy, offer discounted rates to projects that acknowledge how ERC20 is soon to be superseded, and with its callback function will allow GCA to expand into additional business segments such as rental applications.
https://gcalliance.io/;https://globalcryptonews.io/;https://gcsecurity.io/
Media ContactName-René-M. BogislawskiEmail-contact@gcalliance.ioWebsite-https://gcalliance.io/
SOURCE:Global Crypto Alliance
View source version on accesswire.com:https://www.accesswire.com/571343/Global-Crypto-Alliance-CALL-partners-with-Parachute-PAR-and-gets-listed-on-ParJar || BDAM-Resolving the Crypto Acceptability issues: KOWLOON, HONG KONG / ACCESSWIRE / December 26, 2019 / The crypto and blockchain industry is recording growth at an unprecedented pace on a global scale. The rise of blockchain, tokenization, and decentralized technology has unleashed a new breed of apps, sites, and services not only within the fin-tech space but across all major industries including but not limited to banking, supply chain industry, medical industry, etc. While in the developed countries, crypto projects such as Bitcoin are considered commodities, in economically stricken countries like Venezuela and Iran, these virtual currencies are being used as a mean of payment and store of value. Acceptability is still a major issue: However, despite the thriving market cap, this industry is still struggling when it comes to mass adoption. The major reason being the buying process involves a large number of intermediaries, which results in massive third party fees and causes delays of up to days. Similarly, liquidating your crypto assets is also a time-taking process that may result in a beneficiary getting an amount lesser than what it was when sent at the time of transaction because of fee and third-party deductions. Another issue is the utility and acceptance of the respective coins or tokens across merchants and retail stores. Moreover, the exchanges where cryptocurrency is being traded have also their own set of issues. Take, for example, the issue of high trading fees, security vulnerabilities (several hacking incidents in recent months and years causing loss billions of dollars of loss), uncertain nature of operations in terms of legal compliance, no multi-language support, and poor customer support. Introducing BDAM - A complete financial ecosystem striving to bridge the gap between the crypto and the existing financial world . BDAM is a project of the BDAM foundation that aims to provide a complete decentralized ecosystem, and by doing so, resolve issues faced by the crypto industry. In this vision, the foundation offers a state-of-the-art hybrid digital-asset exchange, i.e., BDAMX , a decentralized payment gateway, i.e., BDAM Pay , a decentralized application store, i.e., BDAM dApp Store , and a native blockchain deployed token, i.e., BDAM Coin . BDAMX Exchange , the key product of this ecosystem, serves as an innovative crypto-asset platform that uses hybrid technical architecture for combining the best features of both centralized and decentralized exchanges. The Beta Version of the exchange is already live while the Mobile version would be live by 1st week of 2020. Story continues The Alpha Version of the BDAMX Exchange would simplify the buying and selling process of cryptocurrencies by integrating user accounts with BDAM Debit Card. A user would simply be able to purchase by using his credit or debit card. So no hassle of doing wire transfers or buying from peer to peer local exchanges where a certain degree of risk always there. Furthermore, with BDAM Pay, which acts as a payment gateway and a multi-coin wallet, users would also be able to spend their tokens across a big network of merchants and eCommerce stores. Moreover, the BDAM Platform would also feature a dedicated remittance engine that will not only enable the mass adoption of crypto assets but also allow efficient remittance: a sector where third-party intermediaries often charge significant fees, while such transaction is being done. With the provision of a secure and seamless trading platform, a dedicated payment gateway, Crypto Supported Debit cards, and the BDAM dApp store, the BDAM Project is poised to create a complete ecosystem as per the roadmap. The team believes that this will not only resolve the current issues faced by the crypto industry but also enhance the process of crypto adoption and would serve as the bridge between crypto and fiat money. It will further support potential startups by offering them a platform to deploy their business while creating much-needed liquidity and helping them to grow and be the industry leader of tomorrow. To know about the project more, please visit our website http://www.bdamcoin.com/ and read the BDAM white paper today. Contact: Name: Bdam Foundation Email: m.younas@bdamcoin.com SOURCE: BDAM View source version on accesswire.com: https://www.accesswire.com/571342/BDAM-Resolving-the-Crypto-Acceptability-issues View comments
[Social Media Buzz]
None available.
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7317.99, 7422.65, 7293.00, 7193.60, 7200.17, 6985.47, 7344.88, 7410.66, 7411.32, 7769.22
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Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 1998.86, 1929.82, 2228.41, 2318.88, 2273.43, 2817.60, 2667.76, 2810.12, 2730.40, 2754.86, 2576.48, 2529.45, 2671.78, 2809.01, 2726.45, 2757.18, 2875.34, 2718.26, 2710.67, 2804.73, 2895.89, 3252.91, 3213.94, 3378.94, 3419.94, 3342.47, 3381.28, 3650.62, 3884.71, 4073.26, 4325.13, 4181.93, 4376.63, 4331.69, 4160.62, 4193.70, 4087.66, 4001.74, 4100.52, 4151.52, 4334.68, 4371.60, 4352.40, 4382.88, 4382.66, 4579.02, 4565.30, 4703.39, 4892.01, 4578.77, 4582.96, 4236.31, 4376.53, 4597.12, 4599.88, 4228.75, 4226.06, 4122.94, 4161.27, 4130.81, 3882.59, 3154.95, 3637.52, 3625.04, 3582.88, 4065.20, 3924.97, 3905.95, 3631.04, 3630.70, 3792.40, 3682.84, 3926.07, 3892.35, 4200.67, 4174.73, 4163.07, 4338.71, 4403.74, 4409.32, 4317.48, 4229.36, 4328.41, 4370.81, 4426.89, 4610.48, 4772.02, 4781.99, 4826.48, 5446.91.
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[Bitcoin Technical Analysis for 2017-10-12]
Volume: 2791610112, RSI (14-day): 77.75, 50-day EMA: 4167.88, 200-day EMA: 3025.70
[Wider Market Context]
Gold Price: 1293.30, Gold RSI: 51.42
Oil Price: 50.60, Oil RSI: 53.09
[Recent News (last 7 days)]
Facebook's $2 billion bet on virtual reality looks like one of Mark Zuckerberg's rare mistakes: Facebook ( FB ) dropped $2 billion to acquire virtual reality platform Oculus in 2014. Unlike the company's other big acquisitions, Instagram ($1 billion in 2012) and WhatsApp ($19 billion in 2014), Oculus does not appear to be paying off. Although Oculus Gear VR headsets are practically handed out with Samsung smartphones, the company's more expensive Oculus Rift platform doesn't appear to have attracted any real following. According to market research firm Canalys, Facebook sold fewer than 400,000 units of the Oculus Rift last year, making it less popular than the competing HTC Vive and Sony PlayStation VR, the latter of which has already shipped more than 1 million units. Anecdotally, it doesn't seem to be a hit either. I don't know anyone outside of the technology industry who owns one. I review gadgets and have a house full of toys, and yet I haven't found any need to buy one. I know people who own the PlayStation VR. Facebook has never disclosed sales figures, but based on announcements at today's annual Oculus Connect event , it's still searching for the right combo of features and price that will make Oculus a hit. The Oculus Go Facebook on Wednesday introduced the $199 Oculus Go , a virtual reality headset that will launch next year. Unlike most other VR sets, it won't require a smartphone or an expensive PC to use. While introducing the Go, Zuckerberg said it's a product meant to fill the gap between the affordable Gear VR and the Oculus Rift. It's the company's plan to attract a wider audience... probably because the general consumer isn't flocking to buy a gaming computer and a $400 headset. Permanent price drop Zuckerberg permanently dropped the price of the Oculus Rift to $399. It launched at $599.99, then fell to $499.99 before Facebook introduced a $399 summer sale that included a controller. A a price drop wouldn't be necessary if people were actually buying the Rift. Nobody wants to be social in VR Us regular Joes don't want to hang out in VR -- at least not yet -- but Facebook keeps jamming the idea down our throats. It introduced new avatars that can be customized and feature more lifelike facial expressions on Wednesday. But why? Altspace VR, a firm that raised $10 million and once ran one of the more popular social VR experiences, originally shut down in August citing the "general slowness of VR market growth." It has since been acquired by Microsoft, which hopes to bring it back to life with its Mixed Reality headsets . This is probably the first time you're hearing of Altspace, and that's the problem. There's no must-have app There's no must-have app that's pulling people into the Rift or VR. Sure, it's fun to look at 360-degree photos or short video clips on the Gear VR with a Samsung phone, but there isn't a real compelling reason to plop down $400 plus the price of a gaming computer for VR. Facebook needs this, it's what helps sell gaming consoles like the Xbox and PlayStation. Most readers can probably name a game for one of those platforms, but can you name an app for the Rift? Still early days, but... It's still early for the VR industry and firms such as Sony have seen relative success. Canalys also estimates that there will be 20 million headsets in the market by 2020, which means there's still time for Facebook to turn this ship around and show the world why we really need to buy an Oculus. On the other hand, Instagram exploded from 30 million users when Facebook bought it in 2012 to more than 800 million. WhatsApp had 450 million users when Facebook acquired it in 2014 and now has more than 1.3 billion users . The return on those buys in such a relatively short period of time certainly seems to have been greater than what Facebook has received from Oculus. CNBC reached out to Facebook for comment but a spokesperson was not immediately available. More From CNBC Bitcoin smashes through $5,100 to hit a new record high Elon Musk's SpaceX lands another big win in making reusable rockets the future How Amazon becoming a pharmacy could lower the price of drugs || Facebook's $2 billion bet on virtual reality looks like one of Mark Zuckerberg's rare mistakes: Facebook ( FB ) dropped $2 billion to acquire virtual reality platform Oculus in 2014. Unlike the company's other big acquisitions, Instagram ($1 billion in 2012) and WhatsApp ($19 billion in 2014), Oculus does not appear to be paying off. Although Oculus Gear VR headsets are practically handed out with Samsung smartphones, the company's more expensive Oculus Rift platform doesn't appear to have attracted any real following. According to market research firm Canalys, Facebook sold fewer than 400,000 units of the Oculus Rift last year, making it less popular than the competing HTC Vive and Sony PlayStation VR, the latter of which has already shipped more than 1 million units. Anecdotally, it doesn't seem to be a hit either. I don't know anyone outside of the technology industry who owns one. I review gadgets and have a house full of toys, and yet I haven't found any need to buy one. I know people who own the PlayStation VR. Facebook has never disclosed sales figures, but based on announcements at today's annual Oculus Connect event , it's still searching for the right combo of features and price that will make Oculus a hit. The Oculus Go Facebook on Wednesday introduced the $199 Oculus Go , a virtual reality headset that will launch next year. Unlike most other VR sets, it won't require a smartphone or an expensive PC to use. While introducing the Go, Zuckerberg said it's a product meant to fill the gap between the affordable Gear VR and the Oculus Rift. It's the company's plan to attract a wider audience... probably because the general consumer isn't flocking to buy a gaming computer and a $400 headset. Permanent price drop Zuckerberg permanently dropped the price of the Oculus Rift to $399. It launched at $599.99, then fell to $499.99 before Facebook introduced a $399 summer sale that included a controller. A a price drop wouldn't be necessary if people were actually buying the Rift. Nobody wants to be social in VR Us regular Joes don't want to hang out in VR -- at least not yet -- but Facebook keeps jamming the idea down our throats. It introduced new avatars that can be customized and feature more lifelike facial expressions on Wednesday. But why? Altspace VR, a firm that raised $10 million and once ran one of the more popular social VR experiences, originally shut down in August citing the "general slowness of VR market growth." It has since been acquired by Microsoft, which hopes to bring it back to life with its Mixed Reality headsets . This is probably the first time you're hearing of Altspace, and that's the problem. There's no must-have app There's no must-have app that's pulling people into the Rift or VR. Sure, it's fun to look at 360-degree photos or short video clips on the Gear VR with a Samsung phone, but there isn't a real compelling reason to plop down $400 plus the price of a gaming computer for VR. Facebook needs this, it's what helps sell gaming consoles like the Xbox and PlayStation. Most readers can probably name a game for one of those platforms, but can you name an app for the Rift? Still early days, but... It's still early for the VR industry and firms such as Sony have seen relative success. Canalys also estimates that there will be 20 million headsets in the market by 2020, which means there's still time for Facebook to turn this ship around and show the world why we really need to buy an Oculus. On the other hand, Instagram exploded from 30 million users when Facebook bought it in 2012 to more than 800 million. WhatsApp had 450 million users when Facebook acquired it in 2014 and now has more than 1.3 billion users . The return on those buys in such a relatively short period of time certainly seems to have been greater than what Facebook has received from Oculus. CNBC reached out to Facebook for comment but a spokesperson was not immediately available. More From CNBC Bitcoin smashes through $5,100 to hit a new record high Elon Musk's SpaceX lands another big win in making reusable rockets the future How Amazon becoming a pharmacy could lower the price of drugs || Russian authorities agree to regulate crypto-currency market: MOSCOW (Reuters) - Russian authorities have agreed to regulate the crypto-currency market and hope to set out how this regulation will work by the end of the year, Finance Minister Anton Siluanov said on Wednesday. Crypto-currencies such as bitcoin enable individuals to transfer value to each other and pay for goods and services bypassing banks and the mainstream financial system. They count technology enthusiasts, speculators attracted by big price swings and libertarians skeptical of government monetary policy among their fans worldwide. But banks have mostly steered clear of crypto-currencies, and some governments and central banks have been strongly critical of them. On Tuesday President Vladimir Putin chaired a meeting of senior Russian officials on the issue, and said the crypto-currencies were risky and used for crime. Russia's central bank has said it would block websites selling bitcoin and its rivals to households. "The president has spoken of the problems related to crypto-currencies. These are difficulties regarding ... money laundering and cases that are related to identification issues," TASS news agency quoted Siluanov as saying on Wednesday. "That's why we have agreed that the state should regulate the issuing of crypto-currencies, their mining and turnover. The state should take all this under control," said Siluanov, who attended Tuesday's meeting with Putin. Siluanov's comments echoed his earlier calls to control and supervise the market for virtual currencies. Siluanov said his ministry would work with the central bank on regulating crypto-currencies in Russia. Siluanov's deputy Alexei Moiseev said on Wednesday that Russia's Federal Tax Service could also be involved as Moscow wants to collect taxes from those who mine crypto-currencies. Bitcoin, the most well-known virtual currency that emerged in mid-2010, is increasingly popular worldwide as it promises substantial profits. One bitcoin last traded at around $4,762 (BTC=BTSP), up from its initial price of less than $1. (Reporting by Andrey Ostroukh, Polina Nikolskaya and Elena Fabrichnaya; Editing by Gareth Jones) || Russian authorities agree to regulate crypto-currency market: MOSCOW (Reuters) - Russian authorities have agreed to regulate the crypto-currency market and hope to set out how this regulation will work by the end of the year, Finance Minister Anton Siluanov said on Wednesday. Crypto-currencies such as bitcoin enable individuals to transfer value to each other and pay for goods and services bypassing banks and the mainstream financial system. They count technology enthusiasts, speculators attracted by big price swings and libertarians skeptical of government monetary policy among their fans worldwide. But banks have mostly steered clear of crypto-currencies, and some governments and central banks have been strongly critical of them. On Tuesday President Vladimir Putin chaired a meeting of senior Russian officials on the issue, and said the crypto-currencies were risky and used for crime. Russia's central bank has said it would block websites selling bitcoin and its rivals to households. "The president has spoken of the problems related to crypto-currencies. These are difficulties regarding ... money laundering and cases that are related to identification issues," TASS news agency quoted Siluanov as saying on Wednesday. "That's why we have agreed that the state should regulate the issuing of crypto-currencies, their mining and turnover. The state should take all this under control," said Siluanov, who attended Tuesday's meeting with Putin. Siluanov's comments echoed his earlier calls to control and supervise the market for virtual currencies. Siluanov said his ministry would work with the central bank on regulating crypto-currencies in Russia. Siluanov's deputy Alexei Moiseev said on Wednesday that Russia's Federal Tax Service could also be involved as Moscow wants to collect taxes from those who mine crypto-currencies. Bitcoin, the most well-known virtual currency that emerged in mid-2010, is increasingly popular worldwide as it promises substantial profits. One bitcoin last traded at around $4,762 (BTC=BTSP), up from its initial price of less than $1. (Reporting by Andrey Ostroukh, Polina Nikolskaya and Elena Fabrichnaya; Editing by Gareth Jones) || Russian authorities agree to regulate crypto-currency market: MOSCOW (Reuters) - Russian authorities have agreed to regulate the crypto-currency market and hope to set out how this regulation will work by the end of the year, Finance Minister Anton Siluanov said on Wednesday. Crypto-currencies such as bitcoin enable individuals to transfer value to each other and pay for goods and services bypassing banks and the mainstream financial system. They count technology enthusiasts, speculators attracted by big price swings and libertarians skeptical of government monetary policy among their fans worldwide. But banks have mostly steered clear of crypto-currencies, and some governments and central banks have been strongly critical of them. On Tuesday President Vladimir Putin chaired a meeting of senior Russian officials on the issue, and said the crypto-currencies were risky and used for crime. Russia's central bank has said it would block websites selling bitcoin and its rivals to households. "The president has spoken of the problems related to crypto-currencies. These are difficulties regarding ... money laundering and cases that are related to identification issues," TASS news agency quoted Siluanov as saying on Wednesday. "That's why we have agreed that the state should regulate the issuing of crypto-currencies, their mining and turnover. The state should take all this under control," said Siluanov, who attended Tuesday's meeting with Putin. Siluanov's comments echoed his earlier calls to control and supervise the market for virtual currencies. Siluanov said his ministry would work with the central bank on regulating crypto-currencies in Russia. Siluanov's deputy Alexei Moiseev said on Wednesday that Russia's Federal Tax Service could also be involved as Moscow wants to collect taxes from those who mine crypto-currencies. Bitcoin, the most well-known virtual currency that emerged in mid-2010, is increasingly popular worldwide as it promises substantial profits. One bitcoin last traded at around $4,762 (BTC=BTSP), up from its initial price of less than $1. (Reporting by Andrey Ostroukh, Polina Nikolskaya and Elena Fabrichnaya; Editing by Gareth Jones) || Russian authorities agree to regulate crypto-currency market: MOSCOW (Reuters) - Russian authorities have agreed to regulate the crypto-currency market and hope to set out how this regulation will work by the end of the year, Finance Minister Anton Siluanov said on Wednesday.
Crypto-currencies such as bitcoin enable individuals to transfer value to each other and pay for goods and services bypassing banks and the mainstream financial system.
They count technology enthusiasts, speculators attracted by big price swings and libertarians skeptical of government monetary policy among their fans worldwide. But banks have mostly steered clear of crypto-currencies, and some governments and central banks have been strongly critical of them.
On Tuesday President Vladimir Putin chaired a meeting of senior Russian officials on the issue, and said the crypto-currencies were risky and used for crime. Russia's central bank has said it would block websites selling bitcoin and its rivals to households.
"The president has spoken of the problems related to crypto-currencies. These are difficulties regarding ... money laundering and cases that are related to identification issues," TASS news agency quoted Siluanov as saying on Wednesday.
"That's why we have agreed that the state should regulate the issuing of crypto-currencies, their mining and turnover. The state should take all this under control," said Siluanov, who attended Tuesday's meeting with Putin.
Siluanov's comments echoed his earlier calls to control and supervise the market for virtual currencies. Siluanov said his ministry would work with the central bank on regulating crypto-currencies in Russia.
Siluanov's deputy Alexei Moiseev said on Wednesday that Russia's Federal Tax Service could also be involved as Moscow wants to collect taxes from those who mine crypto-currencies.
Bitcoin, the most well-known virtual currency that emerged in mid-2010, is increasingly popular worldwide as it promises substantial profits. One bitcoin last traded at around $4,762 (BTC=BTSP), up from its initial price of less than $1.
(Reporting by Andrey Ostroukh, Polina Nikolskaya and Elena Fabrichnaya; Editing by Gareth Jones) || How Legal Is Bitcoin Anyway?: Bitcoin prices have headed back toward highs above $4,900 since Oct. 5, trading at near $4,300 as fear of a China crackdown receded and big banks indicated they want in on the action.
Bitcoin traders, however, have a love-hate relationship with the banks. They want the trade and think that making cryptocurrencies mainstream would inevitably lead to huge profits for those who got in early. On the other hand, they fear the competition, and regulation, that big banks bring with them.
It was a tweet byGoldman Sachs Group Inc(NYSE:GS) CEO Lloyd Blankfein that led to the latest speculative run-up.
InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Still thinking about#Bitcoin. No conclusion – not endorsing/rejecting. Know that folks also were skeptical when paper money displaced gold.
— Lloyd Blankfein (@lloydblankfein)October 3, 2017
For Bitcoin, it was the “tweet heard ’round the world.”
• 10 Smart Money Stocks to Sell for 2018
Each time law enforcement agency breaks cases based on crypto-coins,a new upgrade appears to protect anonymity. Anonymity for honest men, but also for drug runners, cyber-criminals and terrorists of all kinds.
Blackrock, Inc.(NYSE:BLK) CEO Larry Fink is among the conflicted. The rise of Bitcoin, he says, shows just how much money laundering isgoing on around the world.
Despite the conflict, big banks like Goldman are talking of dipping their toes into Bitcoin trading. Those who chart Bitcoin pricing don’t know what to make of the recent action — is it a head-and-shoulders top or is it about to break the 50-day moving average trend line and head to new highs?
Two key issues are bedeviling the technology right now, convertibility and legality.
Convertibility, the movement of value between cryptocurrencies like Bitcoin and fiat currencies like the U.S. dollar, is behind many recent forks, which aims to increase the rate at which cryptocurrency blockchains can handle transactions. Inside that goal, developers are arguing over possible cyberattacks on the blockchain, and whether new software must be deployed to meet the threat.
The legality issue is being played out between code protecting anonymity and governments seeking to ban anonymity.IndiaandChinaare leading the political side of the battle, demanding that cryptocurrency holders be unmasked and prove they’re legitimate.
The other side consists of miners and traders in places that have not clamped down, like South Korea and Japan. There are reports that North Korea is also trying to mine Bitcoin and hack virtual currency exchanges.
The U.S. has been on both sides of the fence.
Banking regulators are talking up rules to let bankers like Blankfein into the marketwith clean hands.At the same time, the government is extraditing BTC-e Bitcoin exchange operatorAlexander Vinnik, a move Russia calls “kidnapping.”
Questionslike taking Bitcoin as legal tender,defining Bitcoin as securitiesandtaxing Bitcoin gainsare a sideshow to these larger battles.
Why not simply launch a government-backed, convertible virtual currency through an Initial Coin Offering, asIndia is consideringand Dubai has done throughemCash?
That’s what all the recent ICO frenzy is really all about, the creation of new ways to turn fiat currency into value. Investors can buy coins, put them in an ICO, and launch new markets with them. Securities and Exchange Commission chair Jay Clayton calls theseanother version of the old “pump and dump” scam, where phony stocks were kited with publicity, sold to the gullible, then allowed to become worthless.
Overstock.com, Inc.(NASDAQ:OSTK), which began as a competitor toAmazon.com, Inc.(NASDAQ:AMZN) now wants to build a government-regulated market to trade ICO tokens, and the stockbriefly rose 25%on the news.
• The Best (and Worst) Sectors in the Stock Market Today
When a press release about someone wanting to engage in government-regulated ICO trading gets a $200 million bump into an otherwise-obscure stock, something very real is going on.
Dana Blankenhornis a financial and technology journalist. He is the author of a mystery novella involving Bitcoin,The Reluctant Detective Saves the World, available now at the Amazon Kindle store. Write him atdanablankenhorn@gmail.comor follow him on Twitter at@danablankenhorn. As of this writing, he owned shares in AMZN. To follow the value of cryptocurrencies bookmarkhttps://coinmarketcap.com.
• The 10 Most Expensive Stocks in the S&P 500
• How to Buy Bitcoin: Everything You Should Know
• 5 Blue-Chip Stocks to Buy in October
The postHow Legal Is Bitcoin Anyway?appeared first onInvestorPlace. || How Legal Is Bitcoin Anyway?: Bitcoin prices have headed back toward highs above $4,900 since Oct. 5, trading at near $4,300 as fear of a China crackdown receded and big banks indicated they want in on the action.
Bitcoin traders, however, have a love-hate relationship with the banks. They want the trade and think that making cryptocurrencies mainstream would inevitably lead to huge profits for those who got in early. On the other hand, they fear the competition, and regulation, that big banks bring with them.
It was a tweet byGoldman Sachs Group Inc(NYSE:GS) CEO Lloyd Blankfein that led to the latest speculative run-up.
InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Still thinking about#Bitcoin. No conclusion – not endorsing/rejecting. Know that folks also were skeptical when paper money displaced gold.
— Lloyd Blankfein (@lloydblankfein)October 3, 2017
For Bitcoin, it was the “tweet heard ’round the world.”
• 10 Smart Money Stocks to Sell for 2018
Each time law enforcement agency breaks cases based on crypto-coins,a new upgrade appears to protect anonymity. Anonymity for honest men, but also for drug runners, cyber-criminals and terrorists of all kinds.
Blackrock, Inc.(NYSE:BLK) CEO Larry Fink is among the conflicted. The rise of Bitcoin, he says, shows just how much money laundering isgoing on around the world.
Despite the conflict, big banks like Goldman are talking of dipping their toes into Bitcoin trading. Those who chart Bitcoin pricing don’t know what to make of the recent action — is it a head-and-shoulders top or is it about to break the 50-day moving average trend line and head to new highs?
Two key issues are bedeviling the technology right now, convertibility and legality.
Convertibility, the movement of value between cryptocurrencies like Bitcoin and fiat currencies like the U.S. dollar, is behind many recent forks, which aims to increase the rate at which cryptocurrency blockchains can handle transactions. Inside that goal, developers are arguing over possible cyberattacks on the blockchain, and whether new software must be deployed to meet the threat.
The legality issue is being played out between code protecting anonymity and governments seeking to ban anonymity.IndiaandChinaare leading the political side of the battle, demanding that cryptocurrency holders be unmasked and prove they’re legitimate.
The other side consists of miners and traders in places that have not clamped down, like South Korea and Japan. There are reports that North Korea is also trying to mine Bitcoin and hack virtual currency exchanges.
The U.S. has been on both sides of the fence.
Banking regulators are talking up rules to let bankers like Blankfein into the marketwith clean hands.At the same time, the government is extraditing BTC-e Bitcoin exchange operatorAlexander Vinnik, a move Russia calls “kidnapping.”
Questionslike taking Bitcoin as legal tender,defining Bitcoin as securitiesandtaxing Bitcoin gainsare a sideshow to these larger battles.
Why not simply launch a government-backed, convertible virtual currency through an Initial Coin Offering, asIndia is consideringand Dubai has done throughemCash?
That’s what all the recent ICO frenzy is really all about, the creation of new ways to turn fiat currency into value. Investors can buy coins, put them in an ICO, and launch new markets with them. Securities and Exchange Commission chair Jay Clayton calls theseanother version of the old “pump and dump” scam, where phony stocks were kited with publicity, sold to the gullible, then allowed to become worthless.
Overstock.com, Inc.(NASDAQ:OSTK), which began as a competitor toAmazon.com, Inc.(NASDAQ:AMZN) now wants to build a government-regulated market to trade ICO tokens, and the stockbriefly rose 25%on the news.
• The Best (and Worst) Sectors in the Stock Market Today
When a press release about someone wanting to engage in government-regulated ICO trading gets a $200 million bump into an otherwise-obscure stock, something very real is going on.
Dana Blankenhornis a financial and technology journalist. He is the author of a mystery novella involving Bitcoin,The Reluctant Detective Saves the World, available now at the Amazon Kindle store. Write him atdanablankenhorn@gmail.comor follow him on Twitter at@danablankenhorn. As of this writing, he owned shares in AMZN. To follow the value of cryptocurrencies bookmarkhttps://coinmarketcap.com.
• The 10 Most Expensive Stocks in the S&P 500
• How to Buy Bitcoin: Everything You Should Know
• 5 Blue-Chip Stocks to Buy in October
The postHow Legal Is Bitcoin Anyway?appeared first onInvestorPlace. || How Legal Is Bitcoin Anyway?: Bitcoin prices have headed back toward highs above $4,900 since Oct. 5, trading at near $4,300 as fear of a China crackdown receded and big banks indicated they want in on the action. Bitcoin traders, however, have a love-hate relationship with the banks. They want the trade and think that making cryptocurrencies mainstream would inevitably lead to huge profits for those who got in early. On the other hand, they fear the competition, and regulation, that big banks bring with them. It was a tweet by Goldman Sachs Group Inc (NYSE: GS ) CEO Lloyd Blankfein that led to the latest speculative run-up. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Still thinking about #Bitcoin . No conclusion – not endorsing/rejecting. Know that folks also were skeptical when paper money displaced gold. — Lloyd Blankfein (@lloydblankfein) October 3, 2017 The Tweet Heard Round the World For Bitcoin, it was the “tweet heard ’round the world.” 10 Smart Money Stocks to Sell for 2018 Each time law enforcement agency breaks cases based on crypto-coins, a new upgrade appears to protect anonymity . Anonymity for honest men, but also for drug runners, cyber-criminals and terrorists of all kinds. Blackrock, Inc. (NYSE: BLK ) CEO Larry Fink is among the conflicted. The rise of Bitcoin, he says, shows just how much money laundering is going on around the world . Despite the conflict, big banks like Goldman are talking of dipping their toes into Bitcoin trading. Those who chart Bitcoin pricing don’t know what to make of the recent action — is it a head-and-shoulders top or is it about to break the 50-day moving average trend line and head to new highs? Convertibility and Legality Two key issues are bedeviling the technology right now, convertibility and legality. Convertibility, the movement of value between cryptocurrencies like Bitcoin and fiat currencies like the U.S. dollar, is behind many recent forks, which aims to increase the rate at which cryptocurrency blockchains can handle transactions. Inside that goal, developers are arguing over possible cyberattacks on the blockchain, and whether new software must be deployed to meet the threat. Story continues The legality issue is being played out between code protecting anonymity and governments seeking to ban anonymity. India and China are leading the political side of the battle, demanding that cryptocurrency holders be unmasked and prove they’re legitimate. The other side consists of miners and traders in places that have not clamped down, like South Korea and Japan. There are reports that North Korea is also trying to mine Bitcoin and hack virtual currency exchanges. The U.S. has been on both sides of the fence. Banking regulators are talking up rules to let bankers like Blankfein into the market with clean hands. At the same time, the government is extraditing BTC-e Bitcoin exchange operator Alexander Vinnik , a move Russia calls “kidnapping.” Questions like taking Bitcoin as legal tender, defining Bitcoin as securities and taxing Bitcoin gains are a sideshow to these larger battles. Make It Legal? Why not simply launch a government-backed, convertible virtual currency through an Initial Coin Offering, as India is considering and Dubai has done through emCash ? That’s what all the recent ICO frenzy is really all about, the creation of new ways to turn fiat currency into value. Investors can buy coins, put them in an ICO, and launch new markets with them. Securities and Exchange Commission chair Jay Clayton calls these another version of the old “pump and dump” scam , where phony stocks were kited with publicity, sold to the gullible, then allowed to become worthless. Overstock.com, Inc. (NASDAQ: OSTK ), which began as a competitor to Amazon.com, Inc. (NASDAQ: AMZN ) now wants to build a government-regulated market to trade ICO tokens, and the stock briefly rose 25% on the news. The Best (and Worst) Sectors in the Stock Market Today When a press release about someone wanting to engage in government-regulated ICO trading gets a $200 million bump into an otherwise-obscure stock, something very real is going on. Dana Blankenhorn is a financial and technology journalist. He is the author of a mystery novella involving Bitcoin, The Reluctant Detective Saves the World , available now at the Amazon Kindle store. Write him at danablankenhorn@gmail.com or follow him on Twitter at @danablankenhorn . As of this writing, he owned shares in AMZN. To follow the value of cryptocurrencies bookmark https://coinmarketcap.com . More From InvestorPlace The 10 Most Expensive Stocks in the S&P 500 How to Buy Bitcoin: Everything You Should Know 5 Blue-Chip Stocks to Buy in October The post How Legal Is Bitcoin Anyway? appeared first on InvestorPlace . || Nearing Bottom? Litecoin Prices Consolidating After Rough September: Litecoin's price has had a hard time in the fallout of China's initial coin offering (ICO) ban. While both bitcoin and litecoin took a hit after the early September statement from Chinese regulators – followed by domestic cryptocurrency exchanges voluntarily ceasing to offer services in the aftermath – bitcoin quickly recovered and neared record highs against the US dollar this week. As litecoin support struggled, bitcoin seems to have benefitted from the rotation out of ether and ethereum -based tokens, triggered by fears of China-like ICO restrictions in other jurisdictions. Against the U.S. dollar, litecoin is now down by more than $40 from its record high of $98.28, achieved on September 1. Further, the litecoin-bitcoin (LTC/BTC) exchange rate fell from 0.019 BTC (September 2 high) to 0.0098 BTC this week. At press time, LTC/BTC is trading at 0.0105 BTC – down 0.9 percent on the day. Week-over-week, the pair is down 13.22 percent, while on a monthly basis, it is nursing a 34 percent loss. However, price action analysis suggests that the LTC/BTC pair could be nearing a bottom. 4-hour chart The 4-hour chart shows that: The relative strength index (RSI) is rising from the oversold region. The falling trend line is seen offering resistance at 0.0115 BTC. Daily chart: RSI oversold Weekly chart The weekly chart shows that: Prices are currently hovering around the 61.8 percent Fibonacci retracement level of 0.01025 BTC, which acted as a strong support mechanism in May, June and August. Trading volumes have dropped significantly during the recent sell-off. The upward sloping 50-day moving average is seen offering support at 0.0098 BTC. View The oversold conditions on the daily and 4-hour chart – which come at a time when prices are hovering around the critical 61.8% Fibonacci retracement support level – indicates the LTC/BTC pair could be nearing a bottom. The dips below 0.01025 BTC (61.8% Fibonacci retracement) are likely to be short-lived. The pair is more likely to rally to 0.012 and 0.0135 (200-day moving average) levels in the short run. Image via Shutterstock Related Stories Bitcoin-Ethereum Atomic Swap Code Now Open Source Billionaire Mike Novogratz: Bitcoin's Price Will Reach $10k in Less Than a Year Bitcoin Stumbles Near New High But $5k Still in Play Back Above $300: Is Ether Building Momentum? View comments || Nearing Bottom? Litecoin Prices Consolidating After Rough September: Litecoin's price has had a hard time in the fallout of China's initial coin offering (ICO) ban.
While both bitcoin and litecoin took a hit after the early Septemberstatement from Chinese regulators– followed by domestic cryptocurrency exchanges voluntarily ceasing to offer services in the aftermath – bitcoin quickly recovered andneared record highsagainst the US dollar this week.
As litecoin support struggled, bitcoin seems to have benefitted from the rotation out of ether andethereum-based tokens, triggered by fears of China-like ICO restrictions in other jurisdictions.
Against the U.S. dollar, litecoin is now down by more than $40 from its record high of $98.28, achieved on September 1. Further, the litecoin-bitcoin (LTC/BTC) exchange rate fell from 0.019 BTC (September 2 high) to 0.0098 BTC this week.
At press time, LTC/BTC is trading at 0.0105 BTC – down 0.9 percent on the day. Week-over-week, the pair is down 13.22 percent, while on a monthly basis, it is nursing a 34 percent loss.
However, price action analysis suggests that the LTC/BTC pair could be nearing a bottom.
The 4-hour chart shows that:
• The relative strength index (RSI) is rising from the oversold region.
• The falling trend line is seen offering resistance at 0.0115 BTC.
The weekly chart shows that:
• Prices are currently hovering around the 61.8 percent Fibonacci retracement level of 0.01025 BTC, which acted as a strong support mechanism in May, June and August.
• Trading volumes have dropped significantly during the recent sell-off.
• The upward sloping 50-day moving average is seen offering support at 0.0098 BTC.
• The oversold conditions on the daily and 4-hour chart – which come at a time when prices are hovering around the critical 61.8% Fibonacci retracement support level – indicates the LTC/BTC pair could be nearing a bottom.
• The dips below 0.01025 BTC (61.8% Fibonacci retracement) are likely to be short-lived.
• The pair is more likely to rally to 0.012 and 0.0135 (200-day moving average) levels in the short run.
Imagevia Shutterstock
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• Back Above $300: Is Ether Building Momentum? || A longtime exec at Bridgewater, the world's largest hedge fund, is reportedly stepping down: (Ray Dalio.Hollis Johnson)
Parag Shah, a longtime executive at world's largest hedge fund Bridgewater Associates, who often served as the firm's spokesman, has stepped down, TheWall Street Journal reported.
From the Journal:
"He was part of the management team that interacted with some of the hedge fund’s most important clients, which include public pension funds and other deep pools of money."
Shah didn't immediately respond to an email seeking comment.
Shah is the latest high-level employee set to leave. Earlier this year, Bridgewater announced a shakeup on the executive team which included promoting David McCormick to co-CEO, the fifth such CEO since the beginning of last year, per WSJ.
Earlier this year,head of trading Jose Marques was scheduled to step down, Business Insider reported. Jeff Wecker, a former senior manager, alsorecently leftandmoved to Goldman Sachs.
Bridgewater manages about $160 billion in assets, and was founded by billionaire Ray Dalio.
Read the full report over at The Journal >>
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• A $6.8 billion hedge fund run by an industry titan keeps losing money
• There's a big question hanging over the most anticipated hedge fund launch in history || A longtime exec at Bridgewater, the world's largest hedge fund, is reportedly stepping down: Ray Dalio (Ray Dalio.Hollis Johnson) Parag Shah, a longtime executive at world's largest hedge fund Bridgewater Associates, who often served as the firm's spokesman, has stepped down, The Wall Street Journal reported. From the Journal: " He was part of the management team that interacted with some of the hedge fund’s most important clients, which include public pension funds and other deep pools of money." Shah didn't immediately respond to an email seeking comment. Shah is the latest high-level employee set to leave. Earlier this year, Bridgewater announced a shakeup on the executive team which included promoting David McCormick to co-CEO, the fifth such CEO since the beginning of last year, per WSJ. Earlier this year, head of trading Jose Marques was scheduled to step down, Business Insider reported . Jeff Wecker, a former senior manager, also recently left and moved to Goldman Sachs . Bridgewater manages about $160 billion in assets, and was founded by billionaire Ray Dalio. Read the full report over at The Journal >> NOW WATCH: RAY DALIO: Bitcoin is a speculative bubble More From Business Insider A fund at $9 billion Carlson has lost nearly 20% this year A $6.8 billion hedge fund run by an industry titan keeps losing money There's a big question hanging over the most anticipated hedge fund launch in history || Jamie Dimon Should Do ‘Some Homework’ on Crypto, Says Blockchain Capital VC: This article originally ran in Term Sheet, Fortune’s newsletter about deals and dealmakers. Sign up here . Bart Stephens is the co-founder and managing partner of Blockchain Capital , the oldest and most active venture capital firm dedicated to blockchain technology and the cryptocurrency ecosystem. Its portfolio includes Coinbase, Ripple, and Abra. “We’re not betting on the price of Bitcoin, we’re betting on the adoption of blockchain technology,” Stephens says. Oh, and he was one of the crypto panelists at J.P. Morgan’s SF offices while Jamie Dimon was bashing Bitcoin. Below is a pretty frank and in-depth chat about cryptocurrency and the blockchain. TERM SHEET: What do you think is one of the biggest misconceptions about cryptocurrency or the blockchain right now? STEPHENS: The blockchain and cryptocurrencies have elicited an emotional response from financial incumbents. The technology is controversial and misunderstood, but that doesn’t make it any less real. I would encourage Jamie Dimon and others to do some homework first. It is not a fraud. It is not a Ponzi scheme. It’s a robust technology that is going to impact multiple industries in an additive way. Don’t discount it. For too long, Silicon Valley has ignored the tsunami. Many of my friends who are at generalist VC firms dismiss this stuff out of hand because they’re not spending the time to do the homework. Wall Street has been pretty skeptical of cryptocurrency. What are your thoughts on Jamie Dimon’s recent remarks on Bitcoin being a fraud ? While Jamie Dimon was making those comments, I was an invited speaker at JP Morgan’s offices in San Francisco to give a talk with other fund managers and clients of JP Morgan who are really curious about cryptocurrencies and the underlying blockchain technology. So there’s a lot of hypocrisy going on with Jamie Dimon. But I would note that for every negative Jamie Dimon, I could point you to two positive Wall Street CEOs like Lloyd Blankfein at Goldman Sachs and Abigail Johnson at Fidelity, who are making constructive comments on both cryptocurrency and the blockchain. Story continues Every new technology that is confusing, fast-moving, and disruptive is going to be controversial. You’ll see people have emotional reactions. That’s part of why Blockchain Capital exists. We know this industry requires specialization. In the first half of the year, initial coin offerings raised more than $1 billion for blockchain-based projects — many of which consist of little more than a white paper. How do you tell scam ICOs from legitimate ones? People are focused on the wrong thing. ICOs are a transaction, but the underlying idea of a tokenized network is more important. Tokenized networks enable entrepreneurs to have new options to finance their businesses. They can produce a token on top of the Ethereum blockchain that allows them to crowdsource capital — not just from investors, but also from future users who will help build the value of that network. Think engineers, other entrepreneurs, developers, and thought leaders. I think we’re looking at an enlargement of the concept of venture capital. Like all new technologies, ICOs can be misused. There will be fraud, just like there are frauds in the regular stock market. Just because a technology is misused or overheated doesn’t mean it’s not a really important technology. And again, the idea of tokenized networks is more important here, not the ICOs itself, the transaction which people tend to focus on. [TS NOTE: Tokenized networks explained here .] How do you think ICOs will change the venture landscape? There’s a deafening silence coming from Sand Hill Road when it comes to blockchain technology, cryptocurrencies, and certainly ICO technologies. To me, ICO technology allows for the re-imagining of capital formation. Early adopters and software developers are now invited to a party that’s traditionally been for insiders-only — Wall Street executives, Silicon Valley executives, or elite Sand Hill Road firms. So it doesn’t surprise me that Sand Hill Road is not interested in this technology. It’s opening up an exclusive party to other people who create value in the network. Do you think there will be more and more of these startups that misuse ICOs? I think that the best entrepreneurs will build businesses that involve venture capitalists and ICO financing. I think that there will be misuse of the technology just like there’s misuse of traditional financing technology. This industry is not immune from the foibles of greed and human psychology. Blockchain technology – is it a zero sum game? I think all blockchain technology is additive to the existing infrastructure. I don’t think it’s a zero sum game. I think there’s opportunity for startups to take serious market share away from companies that have ignored the technology. There will be winners and losers, but it is not a zero sum game. In a previous Term Sheet , we talked about how Fidelity has been mining bitcoin for three years. What are your thoughts on financial institutions mining? To me, mining is the least interesting part of this ecosystem. It is very capital-intensive. But it is often a way for individuals and institutions to better understand the blockchain infrastructure. So when my brother and I founded Blockchain Capital, the first thing we did was start mining. I don’t recommend people do it, but to me, it shows intellectual curiosity. So the fact that large financial institutions like Fidelity are experimenting with Bitcoin mining shows me there’s interest on behalf of financial incumbents. How do you avoid crashing if this is all just one big bubble? First, I do not think it’s a bubble. If it is a bubble, it won’t hurt Wall Street, and it won’t hurt Main Street. Second, scale matters. The market cap of Bitcoin, if you want to think of it as an equity, is roughly $70 billion. That’s about the same market cap as one publicly-traded fintech stock called Paypal. That’s the smallest bubble I’ve ever seen relative to the scale of other financial crises. || Jamie Dimon Should Do ‘Some Homework’ on Crypto, Says Blockchain Capital VC: This article originally ran in Term Sheet, Fortune’s newsletter about deals and dealmakers.Sign up here.
Bart Stephens is the co-founder and managing partner ofBlockchain Capital, the oldest and most active venture capital firm dedicated to blockchain technology and the cryptocurrency ecosystem. Its portfolio includes Coinbase, Ripple, and Abra. “We’re not betting on the price of Bitcoin, we’re betting on the adoption of blockchain technology,” Stephens says.
Oh, andhe was one of the crypto panelistsat J.P. Morgan’s SF offices while Jamie Dimon was bashing Bitcoin.
Below is a pretty frank and in-depth chat about cryptocurrency and the blockchain.
TERM SHEET: What do you think is one of the biggest misconceptions about cryptocurrency or the blockchain right now?
STEPHENS:The blockchain and cryptocurrencies have elicited an emotional response from financial incumbents. The technology is controversial and misunderstood, but that doesn’t make it any less real. I would encourage Jamie Dimon and others to do some homework first. It is not a fraud. It is not a Ponzi scheme. It’s a robust technology that is going to impact multiple industries in an additive way. Don’t discount it.
For too long, Silicon Valley has ignored the tsunami. Many of my friends who are at generalist VC firms dismiss this stuff out of hand because they’re not spending the time to do the homework.
Wall Street has been pretty skeptical of cryptocurrency. What are your thoughts on Jamie Dimon’s recent remarkson Bitcoin being a fraud?
While Jamie Dimon was making those comments, I wasan invited speaker at JP Morgan’s officesin San Francisco to give a talk with other fund managers and clients of JP Morgan who are really curious about cryptocurrencies and the underlying blockchain technology.
So there’s a lot of hypocrisy going on with Jamie Dimon. But I would note that for every negative Jamie Dimon, I could point you to two positive Wall Street CEOs like Lloyd Blankfein atGoldman Sachsand Abigail Johnson at Fidelity, who are making constructive comments on both cryptocurrency and the blockchain.
Every new technology that is confusing, fast-moving, and disruptive is going to be controversial. You’ll see people have emotional reactions. That’s part of why Blockchain Capital exists. We know this industry requires specialization.
In the first half of the year,initial coin offerings raised more than $1 billionfor blockchain-based projects — many of which consist of little more than a white paper. How do you tell scam ICOs from legitimate ones?
People are focused on the wrong thing. ICOs are a transaction, but the underlying idea of a tokenized network is more important. Tokenized networks enable entrepreneurs to have new options to finance their businesses. They can produce a token on top of the Ethereum blockchain that allows them to crowdsource capital — not just from investors, but also from future users who will help build the value of that network. Think engineers, other entrepreneurs, developers, and thought leaders.
I think we’re looking at an enlargement of the concept of venture capital. Like all new technologies, ICOs can be misused. There will be fraud, just like there are frauds in the regular stock market. Just because a technology is misused or overheated doesn’t mean it’s not a really important technology. And again, the idea of tokenized networks is more important here, not the ICOs itself, the transaction which people tend to focus on.
[TS NOTE:Tokenized networks explained here.]
How do you think ICOs will change the venture landscape?
There’s a deafening silence coming from Sand Hill Road when it comes to blockchain technology, cryptocurrencies, and certainly ICO technologies. To me, ICO technology allows for the re-imagining of capital formation. Early adopters and software developers are now invited to a party that’s traditionally been for insiders-only — Wall Street executives, Silicon Valley executives, or elite Sand Hill Road firms. So it doesn’t surprise me that Sand Hill Road is not interested in this technology. It’s opening up an exclusive party to other people who create value in the network.
Do you think there will be more and more of these startups that misuse ICOs?
I think that the best entrepreneurs will build businesses that involve venture capitalistsandICO financing. I think that there will be misuse of the technology just like there’s misuse of traditional financing technology. This industry is not immune from the foibles of greed and human psychology.
Blockchain technology – is it a zero sum game?
I think all blockchain technology is additive to the existing infrastructure. I don’t think it’s a zero sum game. I think there’s opportunity for startups to take serious market share away from companies that have ignored the technology. There will be winners and losers, but it is not a zero sum game.
Ina previous Term Sheet, we talked about how Fidelity has been mining bitcoin for three years. What are your thoughts on financial institutions mining?
To me, mining is the least interesting part of this ecosystem. It is very capital-intensive. But it is often a way for individuals and institutions to better understand the blockchain infrastructure. So when my brother and I founded Blockchain Capital, the first thing we did was start mining. I don’t recommend people do it, but to me, it shows intellectual curiosity.
So the fact that large financial institutions like Fidelity are experimenting with Bitcoin mining shows me there’s interest on behalf of financial incumbents.
How do you avoid crashing if this is all just one big bubble?
First, I do not think it’s a bubble. If it is a bubble, it won’t hurt Wall Street, and it won’t hurt Main Street. Second, scale matters. The market cap of Bitcoin, if you want to think of it as an equity, is roughly $70 billion. That’s about the same market cap as one publicly-traded fintech stock called Paypal. That’s the smallest bubble I’ve ever seen relative to the scale of other financial crises. || Bitcoin Stumbles Near New High But $5k Still in Play: Bitcoin bears may have had the upper hand in their fight with the bulls on Tuesday, although the positive price action seen today suggests the cryptocurrency is still on the hunt for $5,000 (all-time high) levels.
The bitcoin-U.S. dollar (BTC/USD) exchange rate clocked a fresh five-week high of $4,925 on Tuesday, but ended the session with marginal losses at $4,750.
The decline lacked clear catalysts, however. Techies may consider overbought conditions responsible for the retreat, while news traders may blamePutin's commentson cryptocurrency for stalling the rally at a time when record high was within touching distance.
But, whatever the reason, bitcoin's descend from $4,925 to $4,750 does call for caution. At press time, BTC is trading at $4,800 – up 0.20 percent on the day. Week-on-week and month-on-month, the cryptocurrency is up 14 percent.
Price action analysis suggests the broader outlook remains bullish unless prices end on a negative note today. In that event, a short-term bullish-to-bearish trend change would be confirmed.
The chart above shows:
• Doji-like candle signaling indecision in the market place
• Average true range (ATR) continues to drop, indicating the uptrend lacks momentum or low volatility.
A doji candlestick forms when a cryptocurrency's open and close are virtually equal. It forms due to indecision between the buyers and sellers and signals exhaustion.
The average true range essentially tracks the range of price movement in the cryptocurrency. It is considered a volatility indicator due to the fact that it measures the distance between a series of past highs and lows for a given period. A higher ATR means the move (bullish/bearish) has strong momentum or the cryptocurrency is volatile.
The falling ATR on the bitcoin daily chart indicates weak momentum and a choppy market.
• BTC could still test $5,000 as doji candles alone do not signal trend reversal.
• Bearish Scenario: a negative price action today would confirm bearish doji reversal and open doors for a pullback to $4,500 levels.
Bitcoin image via Shutterstock
• Financial Forecaster Gary Shilling Won't Invest In a 'Black Box' Like Bitcoin
• Ripio Raises $31 Million in Private Ethereum Token Sale
• Russian President Vladimir Putin: Cryptocurrency Poses 'Serious Risks'
• Back Above $300: Is Ether Building Momentum? || Bitcoin Stumbles Near New High But $5k Still in Play: Bitcoin bears may have had the upper hand in their fight with the bulls on Tuesday, although the positive price action seen today suggests the cryptocurrency is still on the hunt for $5,000 (all-time high) levels.
The bitcoin-U.S. dollar (BTC/USD) exchange rate clocked a fresh five-week high of $4,925 on Tuesday, but ended the session with marginal losses at $4,750.
The decline lacked clear catalysts, however. Techies may consider overbought conditions responsible for the retreat, while news traders may blamePutin's commentson cryptocurrency for stalling the rally at a time when record high was within touching distance.
But, whatever the reason, bitcoin's descend from $4,925 to $4,750 does call for caution. At press time, BTC is trading at $4,800 – up 0.20 percent on the day. Week-on-week and month-on-month, the cryptocurrency is up 14 percent.
Price action analysis suggests the broader outlook remains bullish unless prices end on a negative note today. In that event, a short-term bullish-to-bearish trend change would be confirmed.
The chart above shows:
• Doji-like candle signaling indecision in the market place
• Average true range (ATR) continues to drop, indicating the uptrend lacks momentum or low volatility.
A doji candlestick forms when a cryptocurrency's open and close are virtually equal. It forms due to indecision between the buyers and sellers and signals exhaustion.
The average true range essentially tracks the range of price movement in the cryptocurrency. It is considered a volatility indicator due to the fact that it measures the distance between a series of past highs and lows for a given period. A higher ATR means the move (bullish/bearish) has strong momentum or the cryptocurrency is volatile.
The falling ATR on the bitcoin daily chart indicates weak momentum and a choppy market.
• BTC could still test $5,000 as doji candles alone do not signal trend reversal.
• Bearish Scenario: a negative price action today would confirm bearish doji reversal and open doors for a pullback to $4,500 levels.
Bitcoin image via Shutterstock
• Financial Forecaster Gary Shilling Won't Invest In a 'Black Box' Like Bitcoin
• Ripio Raises $31 Million in Private Ethereum Token Sale
• Russian President Vladimir Putin: Cryptocurrency Poses 'Serious Risks'
• Back Above $300: Is Ether Building Momentum? || Bitcoin Stumbles Near New High But $5k Still in Play: Bitcoin bears may have had the upper hand in their fight with the bulls on Tuesday, although the positive price action seen today suggests the cryptocurrency is still on the hunt for $5,000 (all-time high) levels. The bitcoin-U.S. dollar ( BTC/USD ) exchange rate clocked a fresh five-week high of $4,925 on Tuesday, but ended the session with marginal losses at $4,750. The decline lacked clear catalysts, however. Techies may consider overbought conditions responsible for the retreat, while news traders may blame Putin's comments on cryptocurrency for stalling the rally at a time when record high was within touching distance. But, whatever the reason, bitcoin's descend from $4,925 to $4,750 does call for caution. At press time, BTC is trading at $4,800 up 0.20 percent on the day. Week-on-week and month-on-month, the cryptocurrency is up 14 percent. Price action analysis suggests the broader outlook remains bullish unless prices end on a negative note today. In that event, a short-term bullish-to-bearish trend change would be confirmed. Daily chart The chart above shows: Doji-like candle signaling indecision in the market place Average true range (ATR) continues to drop, indicating the uptrend lacks momentum or low volatility. A doji candlestick forms when a cryptocurrency's open and close are virtually equal. It forms due to indecision between the buyers and sellers and signals exhaustion. The average true range essentially tracks the range of price movement in the cryptocurrency. It is considered a volatility indicator due to the fact that it measures the distance between a series of past highs and lows for a given period. A higher ATR means the move (bullish/bearish) has strong momentum or the cryptocurrency is volatile. The falling ATR on the bitcoin daily chart indicates weak momentum and a choppy market. View BTC could still test $5,000 as doji candles alone do not signal trend reversal. Bearish Scenario: a negative price action today would confirm bearish doji reversal and open doors for a pullback to $4,500 levels. Story continues Bitcoin image via Shutterstock Related Stories Financial Forecaster Gary Shilling Won't Invest In a 'Black Box' Like Bitcoin Ripio Raises $31 Million in Private Ethereum Token Sale Russian President Vladimir Putin: Cryptocurrency Poses 'Serious Risks' Back Above $300: Is Ether Building Momentum? || Ethereum First: Investment Product Opens for Trading on Nasdaq Exchange: A first-of-its-kind investment product focused on ethereum is now open to investors on the Nasdaq Stockholm exchange. Announced today, CoinShares, headed by former JPMorgan Chase trader Daniel Masters, is launching an exchange-traded note (ETN) for ether , the cryptocurrency that powers the ethereum blockchain. With the news, the ETN joins CoinShares's original bitcoin ETN offering, launched in 2015, in bringing a well-used mechanism from traditional markets to the world of cryptocurrency. ETNs function similarly to exchange-traded funds, except rather than give investors access to a basket of assets, they generally give investors exposure to just a single asset. In this way, more conservative investors wary about putting their money into funds that invest in multiple cryptocurrencies (some very new and yet to prove their use case), can invest now in only ether or bitcoin, the two cryptocurrency projects with the most market traction. A principal at CoinShares, Masters framed the company's interest in ETNs as stemming from its belief that people should have "hassle-free exposure" to the largest cryptocurrencies by market capitalization. Masters told CoinDesk: "Bitcoin disrupts the functions of analog money and analog gold, and ether disrupts the function of the stock markets and the process of forming capital." The announcement is notable given that XBT Provider, which is wholly owned by CoinShares, currently holds a substantial cryptocurrency portfolio. The firm recently announced a bitcoin position of 58,451 BTC which, at current market prices, is worth over $250 million. (CoinDesk has seen a signed letter from CoinShare's Hong Kong-based custodian attesting to the size of their position.) ETN details As for what makes the product unique, Masters said the fund will differ from actively traded options in that it will be "100 percent passive." Prices between the ETNs and the underlying coins will be about 99 percent correlated, Masters said, meaning that since the ETNs are based on a derivative product, the price of the notes and ether may not be the same at all times. Investors in the product can realize their profits (or losses) by selling their ether ETN in the open market. Story continues Masters further added that his firm's ether-based ETN does not use any leverage. However, depending on which platform an investor uses to purchase the ETN, it may be possible to apply leverage through the investor's broker. This option generally hasn't been available to investors purchasing ether and bitcoin on cryptocurrency exchanges, and shows the growing interest in the more sophisticated investment mechanisms that are prevalent with more traditional assets. Only in Europe? Still, with the ether ETNs only available on Nasdaq Stockholm, the mechanisms are being exclusively marketed to European investors. Masters said this is for regulatory reasons, noting that anyone whose brokers had access to Nasdaq Stockholm will still be able to purchase the product. Moreover, Masters told CoinDesk, that using a broker's platform to purchase the ETN may allow investors to hold exposure to ether in a retirement account, which may, under certain circumstances, result in a tax-advantaged tax treatment for the ETN in certain jurisdictions. Ethereum image via Shutterstock Related Stories Financial Forecaster Gary Shilling Won't Invest In a 'Black Box' Like Bitcoin Money on Mougayar? Business Blockchain Author Launches Crypto Fund AngelList Creator Naval Ravikant Backs S&P-Style Cryptocurrency Fund Blockchain History? IBM Ventures Is Close to Making Its First Industry Investment || Ethereum First: Investment Product Opens for Trading on Nasdaq Exchange: A first-of-its-kind investment product focused on ethereum is now open to investors on the Nasdaq Stockholm exchange.
Announced today, CoinShares, headed by former JPMorgan Chase trader Daniel Masters, is launching an exchange-traded note (ETN) forether, the cryptocurrency that powers the ethereum blockchain. With the news, the ETN joins CoinShares's original bitcoin ETN offering, launched in 2015, in bringing a well-used mechanism from traditional markets to the world of cryptocurrency.
ETNs function similarly to exchange-traded funds, except rather than give investors access to a basket of assets, they generally give investors exposure to just a single asset.
In this way, more conservative investors wary about putting their money into funds that invest in multiple cryptocurrencies (some very new and yet to prove their use case), can invest now in only ether or bitcoin, the two cryptocurrency projects with the most market traction.
A principal at CoinShares, Masters framed the company's interest in ETNs as stemming from its belief that people should have "hassle-free exposure" to the largest cryptocurrencies by market capitalization.
Masters told CoinDesk:
"Bitcoin disrupts the functions of analog money and analog gold, and ether disrupts the function of the stock markets and the process of forming capital."
The announcement is notable given that XBT Provider, which is wholly owned by CoinShares, currently holds a substantial cryptocurrency portfolio.
The firm recently announced a bitcoin position of 58,451 BTC — which, at current market prices, is worth over $250 million. (CoinDesk has seen a signed letter from CoinShare's Hong Kong-based custodian attesting to the size of their position.)
As for what makes the product unique, Masters said the fund will differ from actively traded options in that it will be "100 percent passive."
Prices between the ETNs and the underlying coins will be about 99 percent correlated, Masters said, meaning that since the ETNs are based on a derivative product, the price of the notes and ether may not be the same at all times.Investors in the product can realize their profits (or losses) by selling their ether ETN in the open market.
Masters further added that his firm's ether-based ETN does not use any leverage.However, depending on which platform an investor uses to purchase the ETN, it may be possible to apply leverage through the investor's broker.
This option generally hasn't been available to investors purchasing ether and bitcoin on cryptocurrency exchanges, and shows the growing interest in the more sophisticated investment mechanisms that are prevalent with more traditional assets.
Still, with the ether ETNs only available on Nasdaq Stockholm, the mechanisms are being exclusively marketed to European investors.
Masters said this is for regulatory reasons, noting that anyone whosebrokers had access to Nasdaq Stockholm will still be able to purchase the product.
Moreover, Masters told CoinDesk, that using a broker's platform to purchase the ETN may allow investors to hold exposure to ether in a retirement account, which may, under certain circumstances, result in a tax-advantaged tax treatment for the ETN in certain jurisdictions.
Ethereum imagevia Shutterstock
• Financial Forecaster Gary Shilling Won't Invest In a 'Black Box' Like Bitcoin
• Money on Mougayar? Business Blockchain Author Launches Crypto Fund
• AngelList Creator Naval Ravikant Backs S&P-Style Cryptocurrency Fund
• Blockchain History? IBM Ventures Is Close to Making Its First Industry Investment
[Social Media Buzz]
Bitcoin reached $ 5,400.00 #bitcoin $BTC #cryptocurrency https://coinranking.com/c/btc/7d pic.twitter.com/ABPXhf9NUJ || #Bitcoin : Sube !! 12/10/2017 15:00:08 COMPRAMOS a COP 14.780.052,77 y VENDEMOS en COP 18.513.960,83 #BitcoinColombiapic.twitter.com/ZiE69vQj3b || Poloniex #2 Market(12.98%) BTC/USDT - Bitcoin Vol(24h):2189.04 BTC / $10,698,800 - Price: $4892.00 / 1.00093 BTC || Current price of $BTC is $5410.00 via Chain #bitcoin #btc || Bitcoin bulls break 5k...what an hour it has been!...
|
5647.21, 5831.79, 5678.19, 5725.59, 5605.51, 5590.69, 5708.52, 6011.45, 6031.60, 6008.42
|
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 3851.05, 3854.79, 3859.58, 3864.42, 3847.18, 3761.56, 3896.38, 3903.94, 3911.48, 3901.13, 3963.31, 3951.60, 3905.23, 3909.16, 3906.72, 3924.37, 3960.91, 4048.73, 4025.23, 4032.51, 4071.19, 4087.48, 4029.33, 4023.97, 4035.83, 4022.17, 3963.07, 3985.08, 4087.07, 4069.11, 4098.37, 4106.66, 4105.40, 4158.18, 4879.88, 4973.02, 4922.80, 5036.68, 5059.82, 5198.90, 5289.77, 5204.96, 5324.55, 5064.49, 5089.54, 5096.59, 5167.72, 5067.11, 5235.56, 5251.94, 5298.39, 5303.81, 5337.89, 5314.53, 5399.37, 5572.36, 5464.87, 5210.52, 5279.35, 5268.29, 5285.14, 5247.35, 5350.73, 5402.70, 5505.28, 5768.29, 5831.17, 5795.71, 5746.81, 5829.50, 5982.46, 6174.53, 6378.85, 7204.77, 6972.37, 7814.92, 7994.42, 8205.17, 7884.91, 7343.90, 7271.21, 8197.69, 7978.31, 7963.33, 7680.07, 7881.85, 7987.37, 8052.54, 8673.22, 8805.78.
|
[Bitcoin Technical Analysis for 2019-05-27]
Volume: 27949839564, RSI (14-day): 73.40, 50-day EMA: 6541.64, 200-day EMA: 5365.80
[Wider Market Context]
None available.
[Recent News (last 7 days)]
Litecoin Climbs 10% In Rally: Investing.com - Litecoin was trading at $112.740 by 23:26 (03:26 GMT) on the Investing.com Index on Monday, up 10.10% on the day. It was the largest one-day percentage gain since May 24.
The move upwards pushed Litecoin's market cap up to $6.969B, or 2.58% of the total cryptocurrency market cap. At its highest, Litecoin's market cap was $14.099B.
Litecoin had traded in a range of $110.200 to $112.916 in the previous twenty-four hours.
Over the past seven days, Litecoin has seen a rise in value, as it gained 21.19%. The volume of Litecoin traded in the twenty-four hours to time of writing was $5.620B or 6.42% of the total volume of all cryptocurrencies. It has traded in a range of $85.2283 to $112.9164 in the past 7 days.
At its current price, Litecoin is still down 73.16% from its all-time high of $420.00 set on December 12, 2017.
Bitcoin was last at $8,672.3 on the Investing.com Index, up 8.08% on the day.
Ethereum was trading at $266.05 on the Investing.com Index, a gain of 6.89%.
Bitcoin's market cap was last at $154.891B or 57.37% of the total cryptocurrency market cap, while Ethereum's market cap totaled $28.551B or 10.58% of the total cryptocurrency market value.
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Bitcoin Climbs Above 8,506.9 Level, Up 6%
Hodler’s Digest, May 20–26: Top Stories, Price Movements, Quotes and FUD of the Week
Top 5 Crypto Performers: BSV, BNB, LTC, BCH, DASH || Litecoin Climbs 10% In Rally: Investing.com - Litecoin was trading at $112.740 by 23:26 (03:26 GMT) on the Investing.com Index on Monday, up 10.10% on the day. It was the largest one-day percentage gain since May 24. The move upwards pushed Litecoin's market cap up to $6.969B, or 2.58% of the total cryptocurrency market cap. At its highest, Litecoin's market cap was $14.099B. Litecoin had traded in a range of $110.200 to $112.916 in the previous twenty-four hours. Over the past seven days, Litecoin has seen a rise in value, as it gained 21.19%. The volume of Litecoin traded in the twenty-four hours to time of writing was $5.620B or 6.42% of the total volume of all cryptocurrencies. It has traded in a range of $85.2283 to $112.9164 in the past 7 days. At its current price, Litecoin is still down 73.16% from its all-time high of $420.00 set on December 12, 2017. Elsewhere in cryptocurrency trading Bitcoin was last at $8,672.3 on the Investing.com Index, up 8.08% on the day. Ethereum was trading at $266.05 on the Investing.com Index, a gain of 6.89%. Bitcoin's market cap was last at $154.891B or 57.37% of the total cryptocurrency market cap, while Ethereum's market cap totaled $28.551B or 10.58% of the total cryptocurrency market value. Related Articles Bitcoin Climbs Above 8,506.9 Level, Up 6% Hodler’s Digest, May 20–26: Top Stories, Price Movements, Quotes and FUD of the Week Top 5 Crypto Performers: BSV, BNB, LTC, BCH, DASH || Bitcoin Price Surpasses $8,600 in Big Overnight Rally, Investor Eyes $28K: ByCCN: Overnight, in merely minutes, thebitcoin priceclimbed from $8,000 to $8,600, unexpectedly recording a 7.4% increase on the day.
The bitcoin price has surged by $600 in minutes, spiking from $8,000 to $8,600 in a short time frame. | Source: CoinMarketCap
Prior to the run of bitcoin, technical analysts generally anticipated the dominant cryptocurrency to see a pullback following its 100% year-to-date gain against the U.S. dollar.
At $8,600, the bitcoin price is now less than 57% down from its all-time high and is up 132% since January, within six months.
Earlier this month, the bitcoin price briefly dropped to $6,400 triggered by the abrupt sell-off of 5,000 BTC on Bitstamp which triggered contracts on BitMEX to become liquidated. Some analysts said that a large pullback for bitcoin could be due, possibly to the $4,000 region.
However, speaking to CCN in an exclusive interview, a cryptocurrency trader who is known as “Satoshi Flipper” said he does not foresee a 30% retracement back to the $4,000 region. Rather, he said that the retracement will likely be 10% at most as it stabilizes above key support levels.
Read the full story on CCN.com. || Bitcoin Price Surpasses $8,600 in Big Overnight Rally, Investor Eyes $28K: ByCCN: Overnight, in merely minutes, thebitcoin priceclimbed from $8,000 to $8,600, unexpectedly recording a 7.4% increase on the day.
The bitcoin price has surged by $600 in minutes, spiking from $8,000 to $8,600 in a short time frame. | Source: CoinMarketCap
Prior to the run of bitcoin, technical analysts generally anticipated the dominant cryptocurrency to see a pullback following its 100% year-to-date gain against the U.S. dollar.
At $8,600, the bitcoin price is now less than 57% down from its all-time high and is up 132% since January, within six months.
Earlier this month, the bitcoin price briefly dropped to $6,400 triggered by the abrupt sell-off of 5,000 BTC on Bitstamp which triggered contracts on BitMEX to become liquidated. Some analysts said that a large pullback for bitcoin could be due, possibly to the $4,000 region.
However, speaking to CCN in an exclusive interview, a cryptocurrency trader who is known as “Satoshi Flipper” said he does not foresee a 30% retracement back to the $4,000 region. Rather, he said that the retracement will likely be 10% at most as it stabilizes above key support levels.
Read the full story on CCN.com. || Bitcoin Price Surpasses $8,600 in Big Overnight Rally, Investor Eyes $28K: Overnight in the Asian markets, in merely minutes, the bitcoin price climbed from $8,000 to $8,600, unexpectedly recording a 7.4% increase on the day. | Source: Shutterstock By CCN : Overnight, in merely minutes, the bitcoin price climbed from $8,000 to $8,600, unexpectedly recording a 7.4% increase on the day. The bitcoin price has surged by $600 in minutes The bitcoin price has surged by $600 in minutes, spiking from $8,000 to $8,600 in a short time frame. | Source: CoinMarketCap Prior to the run of bitcoin, technical analysts generally anticipated the dominant cryptocurrency to see a pullback following its 100% year-to-date gain against the U.S. dollar. At $8,600, the bitcoin price is now less than 57% down from its all-time high and is up 132% since January, within six months. Can't wait for the Asian session. pic.twitter.com/VUb5S1VgEX Mati Greenspan (@MatiGreenspan) May 26, 2019 Strong Momentum Is Fueling the Bitcoin Market Earlier this month, the bitcoin price briefly dropped to $6,400 triggered by the abrupt sell-off of 5,000 BTC on Bitstamp which triggered contracts on BitMEX to become liquidated. Some analysts said that a large pullback for bitcoin could be due, possibly to the $4,000 region. However, speaking to CCN in an exclusive interview, a cryptocurrency trader who is known as Satoshi Flipper said he does not foresee a 30% retracement back to the $4,000 region. Rather, he said that the retracement will likely be 10% at most as it stabilizes above key support levels. Read the full story on CCN.com . View comments || Bitcoin Price Slays $8750, Hits 12-Month High in Sudden Parabolic Swing: ByCCN: The bitcoin price pounded to a new 12-month high on Sunday, slamming past the $8,750 mark in a vicious move that looks undeniably parabolic.
The bitcoin price smashed past $8,500 on Sunday, ascending as high as $8,800. | Source: BitcoinWisdom.io
Less than an hour ago, the flagship cryptocurrency was struggling to hold the $8,000 mark, and it looked like BTC would exit the weekend trading near that threshold.
That changed, almost in an instant, when thebitcoin pricesuddenly surged more than $600, easily topping the $8,500 level en route to setting a new high for 2019. An unfettered BTC continued to soar, eclipsing the $8,800 mark on Bitstamp shortly before press time.
Even more significantly, the surge awarded bitcoin a green yearly candle, meaning that investors who purchased BTC one year ago today could now sell at a profit.
Crypto investors who bought BTC on May 26, 2018, are finally in the green. | Source: OnChainFX
Read the full story on CCN.com. || Bitcoin Price Slays $8750, Hits 12-Month High in Sudden Parabolic Swing: The bitcoin price surged to a new 12-month high on Sunday. | Source: Shutterstock By CCN : The bitcoin price pounded to a new 12-month high on Sunday, slamming past the $8,750 mark in a vicious move that looks undeniably parabolic. Bitcoin Price Surges to New 2019 High bitcoin price The bitcoin price smashed past $8,500 on Sunday, ascending as high as $8,800. | Source: BitcoinWisdom.io Less than an hour ago, the flagship cryptocurrency was struggling to hold the $8,000 mark, and it looked like BTC would exit the weekend trading near that threshold. That changed, almost in an instant, when the bitcoin price suddenly surged more than $600, easily topping the $8,500 level en route to setting a new high for 2019. An unfettered BTC continued to soar, eclipsing the $8,800 mark on Bitstamp shortly before press time. New All-Time High Creeps Closer to the Horizon Even more significantly, the surge awarded bitcoin a green yearly candle, meaning that investors who purchased BTC one year ago today could now sell at a profit. bitcoin price Crypto investors who bought BTC on May 26, 2018, are finally in the green. | Source: OnChainFX Read the full story on CCN.com . || Bitcoin Price Slays $8750, Hits 12-Month High in Sudden Parabolic Swing: ByCCN: The bitcoin price pounded to a new 12-month high on Sunday, slamming past the $8,750 mark in a vicious move that looks undeniably parabolic.
The bitcoin price smashed past $8,500 on Sunday, ascending as high as $8,800. | Source: BitcoinWisdom.io
Less than an hour ago, the flagship cryptocurrency was struggling to hold the $8,000 mark, and it looked like BTC would exit the weekend trading near that threshold.
That changed, almost in an instant, when thebitcoin pricesuddenly surged more than $600, easily topping the $8,500 level en route to setting a new high for 2019. An unfettered BTC continued to soar, eclipsing the $8,800 mark on Bitstamp shortly before press time.
Even more significantly, the surge awarded bitcoin a green yearly candle, meaning that investors who purchased BTC one year ago today could now sell at a profit.
Crypto investors who bought BTC on May 26, 2018, are finally in the green. | Source: OnChainFX
Read the full story on CCN.com. || Hodlers Digest, May 2026: Top Stories, Price Movements, Quotes and FUD of the Week: Coming every Sunday, the Hodlers Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions, and much more a week on Cointelegraph in one link. Top Stories This Week Copyright Registrations Do Not Recognize Craig Wright as Satoshi Nakamoto Although self-proclaimed Satoshi Nakamoto Craig Wright , an Australian computer scientist, filed United States copyright registrations for the bitcoin white paper and the bitcoin ( BTC ) source code, that does not mean that the U.S. Copyright Office recognized Wright as Nakamoto. A spokesperson for Wright had told the Financial Times (FT) this week that the office was the first government agency to recognize Wright as the creator of the leading digital currency, a claim that has been met with skepticism by the cryptocurrency community. However, the office told the FT that it does not investigate whether there is a connection between a claimant and a pseudonymous author , and that registering the source code does not protect the intellectual property of bitcoin as an invention. USD Stablecoins Hit Spot Trading Volume Record Highs, With USDT Still Dominating Market Cryptocurrency research firm Diar reported this week that the market capitalization for USD stablecoins has hit all-time highs, exceeding $4 billion. The data shows specifically that stablecoins have a market cap of around $4.3 billion , revealing a surge in USD stablecoin trading volumes in regard to the USDCs 130% uptick between April and May, as well as TrustToken's TrueUSD $3.8 billion in volume in May. Controversial stablecoin tether still remains in the lead, the report notes, with trading volumes this year to date exceeding $1.3 trillion already $200 million higher than the whole of 2018. However, Diar additionally states in the report that the overall broad use case of stablecoins has been slow to gain traction. Story continues Tether Says It Invested Some of Its Reserves Into Bitcoin and Other Assets Stablecoin issuer Tether said this week in a court filing that it had invested some of its reserves in BTC . According to the documents, an attorney for Tethers associated firm Bitfinex stated that Tether had invested a small amount of Tethers reserves into bitcoin, specifying that prior to the April 24th order [
] Tether actually did invest in instruments beyond cash and cash equivalents, including bitcoin, and adding that Tether made other investments , including purchasing other assets. As a response to the admission, the judge in charge of the ongoing investigation into whether Bitfinex secretly used Tether reserves to cover a $850 million loss doubted the logic of investing a stablecoin in a volatile asset like bitcoin . Tether Says It Invested Some of Its Reserves Into Bitcoin and Other Assets US SEC Postpones Verdict on VanEck ETF Application, Again The U.S. Securities and Exchange Commission ( SEC ) delayed its decision again concerning the VanEck bitcoin ( BTC ) exchange-traded fund ( ETF ) proposal. The SEC has added a 35-day period for gathering more information and opinions on the proposal, which was originally filed by CBOE last year. In this weeks SEC filing, the organization listed 14 questions about the proposal for the public to review and answer, with the idea of using the answers to help them decide about approval. The questions are related to the ability to protect investors and public interest from fraud and similar exploitations. The organization had already delayed its decision on the Securities Act update proposal that would allow bitcoin ETFs to be traded on CBOE. US Telecoms Giant AT&T Now Accepting Crypto Payments Via BitPay U.S. telecom and media giant AT&T announced this week that it would accept cryptocurrency for paying phone bills online using crypto payments platform BitPay . BitPay converts crypto into fiat and is currently used by more than 20,000 businesses. AT&T had previously announced at the end of 2018 that it was working on a suite of blockchain solutions compatible with Microsoft Azure and the IBM Blockchain Platform. This weeks reveal about its crypto acceptance is reportedly the first time that a U.S.-based business in the wireless network industry will enable bill payments with BitPay. Winners and Losers The crypto markets are seeing some calm at the end of the week, with bitcoin trading slightly below $8,000, ether at $250 and XRP at $0.38. The top three altcoin gainers of the week are brother, emaratcoin and compound coin. The top three altcoin losers of the week are bitguild plat, playcoin [qrc20] and speed mining service. Winners and Losers For more info on crypto prices, make sure to read Cointelegraphs market analysis . Most Memorable Quotations To kind of burst the bubble, its not our only database, its not our best database, its not currently very fast or very scalable and its not very mature, right? - Dale Chrystie , FedExs dedicated blockchain strategist I dont think banks, I dont think governments will go away. Banks are applying a very important regulatory framework that I actually think is important for society. I personally believe that banks will continue to serve that role, theyre good at it. [...] I think this is a new set of technologies that they can benefit from to grow their business. - Brad Garlinghouse , Ripple CEO Most Memorable Quotations We urge lawmakers to recognize the unparalleled economic power that permissionless innovation has unleashed and to act to let crypto and blockchain technologies flourish. We know lawmakers want to support economic growth and want them to seize the opportunity to lead the charge. - Jeremy Allaire , CEO of crypto finance startup Circle Prediction of the Week NYMEX Trader: Bitcoin Soon to Move Back to $7,000, Markets to Consolidate Anthony Grisant, a cryptocurrency trader at the New York Mercantile Exchange (NYMEX), said this week that bitcoin will likely move back to $7,000 and consolidate soon. Speaking to CNBC, NYMEXs Grisant said that bitcoin will go back to $7,000 for a short period of time, and that the market will then consolidate : I think it consolidate a little bit. [...] I think consolidation for this market is very healthy. Grisant also noted that volumes have come back down over the past few sessions, an indication that buyers are not returning to the market with the same strength they were a few weeks prior. FUD of the Week Two Miners Purportedly Execute 51% Attack on Bitcoin Cash Blockchain This week, two miners reportedly executed a 51% attack on the bitcoin cash ( BCH ) blockchain . While 51% attacks are normally assumed to be carried out with malicious intent, this case occurred when two mining pools attempted to prevent an unidentified party from taking some coins that due to a code update were essentially up for grabs. The two miners, with majority network control BTC.top and BTC.com carried out the attack in order to prevent an unknown miner from taking coins that were sent to an anyone can spend address following the original hard fork in May 2017. According to statistics on Coin.Dance , BTC.top and BTC.com control 43% of the bitcoin cash mining pool. UK Watchdog Reports $34 Million Lost in Crypto and Forex Scams Last Year The United Kingdoms financial regulator released a report this week that cryptocurrency investors in the country have lost more than $34 million due to crypto and forex scams from 2018 to 2019. The regulator gathered data from the U.K. national fraud and cybercrime reporting center, Action Fraud, finding the individual losses due to scams had decreased from $76,000 to $18,500, while total losses fell by $14 million. However, the report noted that the number of times scams were reported had overall tripled, with 81% of the reports related to cryptocurrency scam claims . The U.K. regulator also noted that scammers tended to use social media to find potential investors, often using pictures of celebrities with fake endorsements. UK Watchdog Reports $34 Million Lost in Crypto and Forex Scams Last Year Europol Shuts Down $200 Million Crypto Mixing Service Bestmixer Cryptocurrency mixing service Bestmixer.io has been shut down this week by Dutch , Luxembourg and Europol authorities. Cryptocurrency tumblers are tools that allow crypto transactions of nonprivate coins to become more private by mixing crypto funds with others in order to obscure the funds original source. Bestmixer.io has had a reported turnover of more than $200 million since its launch in May 2018, and mixed cryptocurrencies including bitcoin ( BTC ), litecoin ( LTC ), bitcoin cash ( BCH ) and others. The investigation that preempted the shutdown began in June 2018, as the authorities found that a large number of the mixed coins had been used in money laundering. Best Cointelegraph Features SEC Postpones VanEck Bitcoin ETF, Yet Again. Should We Expect an Approval in 2019? The U.S. SEC has again delayed a decision on approving or disproving a blockchain exchange-traded fund. As the delays keep coming, along with open-ended questions for the public, Cointelegraph takes a look at the chances for the SEC to ever give an ETF the green light. Insured Cryptocurrency Custody Services and Their Potential Impact: The Key to Institutional Investment Growth? As seemingly a wave of cryptocurrency companies have begun offering crypto custody services, Cointelegraph examines the importance of the existence of crypto custody and how it can help foster institutional adoption. Confident in the Future: EOS Developers Attempt 10% Buyback Ahead of Major Announcement Block.one, the developer behind EOS, revealed this week that they were seeking a 10% buyback of its stock for reportedly the second time. In this analysis, Cointelegraph details the potential impetus behind the idea, and what it means for Block.ones future plans. Related Articles: Staking Claim on Bitcoin Does Craig Wrights Copyright Filing Hold Legal Merit? Copyright Registrations Do Not Recognize Craig Wright as Satoshi Nakamoto Self-Proclaimed Satoshi Craig Wright Files US Copyright Registrations for BTC White Paper Bitwise White Paper: Fake Trading Volumes by Exchanges Do Not Impact BTC Prices || Hodler’s Digest, May 20–26: Top Stories, Price Movements, Quotes and FUD of the Week: Coming every Sunday, theHodler’s Digestwill help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions, and much more — a week on Cointelegraph in one link.
Although self-proclaimedSatoshi NakamotoCraig Wright, anAustraliancomputer scientist,filedUnited Statescopyright registrations for the bitcoin white paper and the bitcoin (BTC) source code, that does not mean that the U.S. Copyright Office recognized Wright as Nakamoto. A spokesperson for Wright had told the Financial Times (FT) this week that the office was the first government agency to recognize Wright as the creator of the leading digital currency, a claim that has been met with skepticism by the cryptocurrency community. However, the office told the FT thatit does not investigate whether there is a connection between a claimant and a pseudonymous author, and that registering the source code does not protect the intellectual property of bitcoin as an invention.
Cryptocurrency research firm Diar reported this week that the market capitalization forUSDstablecoinshas hit all-time highs, exceeding $4 billion. The data shows specifically thatstablecoins have a market cap of around $4.3 billion, revealing a surge in USD stablecoin trading volumes in regard to the USDC’s 130% uptick between April and May, as well as TrustToken's TrueUSD $3.8 billion in volume in May. Controversial stablecoin tether still remains in the lead, the report notes, with trading volumes this year to date exceeding $1.3 trillion — already $200 million higher than the whole of 2018. However, Diar additionally states in the report that the overall broad use case of stablecoins has been slow to gain traction.
Stablecoin issuerTethersaid this week in a court filing that it had invested some of its reserves inBTC. According to the documents, an attorney for Tether’s associated firmBitfinexstated that Tether had invested “a small amount” of Tether’s reserves into bitcoin, specifying that “prior to the April 24th order […] Tether actually did invest in instruments beyond cash and cash equivalents, including bitcoin,” and adding that Tether made “otherinvestments, including purchasing other assets.” As a response to the admission, the judge in charge of the ongoinginvestigationinto whether Bitfinex secretly used Tether reserves to cover a $850 million lossdoubted the logic of investing a stablecoin in a volatile asset like bitcoin.
TheU.S.Securities and Exchange Commission (SEC) delayed its decision again concerning the VanEck bitcoin (BTC) exchange-traded fund (ETF) proposal. The SEC has added a 35-day period for gathering more information and opinions on the proposal, which was originally filed byCBOElast year. In this week’s SEC filing, the organizationlisted 14 questions about the proposal for the publicto review and answer, with the idea of using the answers to help them decide about approval. The questions are related to the ability to protect investors and public interest from fraud and similar exploitations. The organization had alreadydelayedits decision on the Securities Act update proposal that would allow bitcoin ETFs to be traded on CBOE.
U.S.telecom and media giant AT&T announced this week that it would accept cryptocurrency for paying phone bills onlineusing crypto payments platformBitPay. BitPay converts crypto into fiat and is currently used by more than 20,000 businesses. AT&T had previouslyannouncedat the end of 2018 that it was working on a suite ofblockchainsolutions compatible withMicrosoftAzure and theIBMBlockchain Platform. This week’s reveal about its crypto acceptance is reportedly the first time that a U.S.-based business in the wireless network industry will enable bill payments with BitPay.
The crypto markets are seeing some calm at the end of the week, with bitcoin trading slightly below $8,000, ether at $250 and XRP at $0.38.
The top three altcoin gainers of the week are brother, emaratcoin and compound coin. The top three altcoin losers of the week are bitguild plat, playcoin [qrc20] and speed mining service.
For more info on crypto prices, make sure to read Cointelegraph’smarket analysis.
“To kind of burst the bubble, it’s not our only database, it’s not our best database, it’s not currently very fast or very scalable and it’s not very mature, right?”
“I don’t think banks, I don’t think governments will go away. Banks are applying a very important regulatory framework that I actually think is important for society. I personally believe that banks will continue to serve that role, they’re good at it. [...] I think this is a new set of technologies that they can benefit from to grow their business.”
“We urge lawmakers to recognize the unparalleled economic power that permissionless innovation has unleashed and to act to let crypto and blockchain technologies flourish. We know lawmakers want to support economic growth and want them to seize the opportunity to lead the charge.”
Anthony Grisant, acryptocurrencytrader at the New York Mercantile Exchange (NYMEX), said this week that bitcoin will likely move back to $7,000 and consolidate soon. Speaking to CNBC, NYMEX’s Grisant said thatbitcoin will go back to $7,000 for a short period of time, and that the market will then consolidate: “I think it consolidate a little bit. [...] I think consolidation for this market is very healthy.” Grisant also noted that volumes have come back down over the past few sessions, an indication that buyers are not returning to the market with the same strength they were a few weeks prior.
This week, two miners reportedly executed a 51% attack on the bitcoin cash (BCH)blockchain. While 51% attacks are normally assumed to be carried out with malicious intent, this case occurred when two mining pools attempted to prevent an unidentified party from taking some coins that — due to acode update— were essentially “up for grabs.” The two miners, with majority network control — BTC.top and BTC.com — carried out the attack in orderto prevent an unknown miner from taking coinsthat were sent to an “anyone can spend” address following the original hard fork in May 2017. According to statistics onCoin.Dance, BTC.top and BTC.com control 43% of the bitcoin cash mining pool.
TheUnited Kingdom’sfinancial regulator released a report this week that cryptocurrency investors in the country have lost more than $34 million due to crypto and forex scams from 2018 to 2019. The regulator gathered data from the U.K. national fraud and cybercrime reporting center, Action Fraud, finding the individual losses due to scams had decreased from $76,000 to $18,500, while total losses fell by $14 million. However, the report noted that the number of times scams were reported had overall tripled, with81% of the reports related to cryptocurrency scam claims. The U.K. regulator also noted that scammers tended to use social media to find potential investors, often using pictures of celebrities with fake endorsements.
Cryptocurrency mixing service Bestmixer.io has been shut down this week byDutch,LuxembourgandEuropolauthorities. Cryptocurrency tumblers are tools that allow crypto transactions of nonprivate coins to become more private by mixing crypto funds with others in order to obscure the funds’ original source. Bestmixer.io has had areported turnover of more than $200 millionsince its launch in May 2018, and mixed cryptocurrencies including bitcoin (BTC), litecoin (LTC), bitcoin cash (BCH) and others. The investigation that preempted the shutdown began in June 2018, as the authorities found that a large number of the mixed coins had been used in money laundering.
The U.S. SEC has again delayed a decision on approving or disproving a blockchain exchange-traded fund. As the delays keep coming, along with open-ended questions for the public, Cointelegraph takes a look at the chances for the SEC to ever give an ETF the green light.
As seemingly a wave of cryptocurrency companies have begun offering crypto custody services, Cointelegraph examines the importance of the existence of crypto custody and how it can help foster institutional adoption.
Block.one, the developer behind EOS, revealed this week that they were seeking a 10% buyback of its stock for reportedly the second time. In this analysis, Cointelegraph details the potential impetus behind the idea, and what it means for Block.one’s future plans.
• Staking Claim on Bitcoin — Does Craig Wright’s Copyright Filing Hold Legal Merit?
• Copyright Registrations Do Not Recognize Craig Wright as Satoshi Nakamoto
• Self-Proclaimed Satoshi Craig Wright Files US Copyright Registrations for BTC White Paper
• Bitwise White Paper: Fake Trading Volumes by Exchanges Do Not Impact BTC Prices || Billionaire Elon Musk Should Turn SpaceX Stock into a Cryptocurrency: ByCCN: Elon Musk might be burning through cash as he seeks to steady the teetering Tesla ship, but hedge funder Mike Novogratz hinted that he would be first in line to invest in his fellow billionaire’s other high-profile project, SpaceX. If SpaceX ever launched its stock on a cryptocurrency network, that is.
Novogratz, the CEO of Galaxy Digital and a former hedge fund manager at Fortress Investment Group, has been on a tear this month discussingBitcoin, but he’s also a vocal proponent of “tokenization.” He thinksElon Muskshould be, too.
Following SpaceX’slaunch of several satellitesinto space Friday morning, Novogratz tweeted:
“Wish they would tokenize @SpaceX…This is very cool. Hats off @elonmusk.”
Subject to regulatory restrictions, companies can “tokenize” their stock by issuing shares on a blockchain. Novogratz and others believesecurity tokens– cryptocurrencies that represent ownership in other assets – could upend Wall Street.
When Novogratz spoke to CNBC following his tweet, he didn’t float the idea of Elon Musk launchingSpaceXstock into the blockchain orbit.
Read the full story on CCN.com. || Billionaire Elon Musk Should Turn SpaceX Stock into a Cryptocurrency: One billionaire gushed that Elon Musk should consider turning SpaceX stock into a cryptocurrency. Will Musk follow the former hedge funder's advice? | Source: Mario Tama / Getty Images / AFP By CCN : Elon Musk might be burning through cash as he seeks to steady the teetering Tesla ship, but hedge funder Mike Novogratz hinted that he would be first in line to invest in his fellow billionaires other high-profile project, SpaceX. If SpaceX ever launched its stock on a cryptocurrency network, that is. Elon Musk Should Issue SpaceX Stock on a Blockchain Novogratz , the CEO of Galaxy Digital and a former hedge fund manager at Fortress Investment Group, has been on a tear this month discussing Bitcoin , but hes also a vocal proponent of tokenization . He thinks Elon Musk should be, too. Following SpaceXs launch of several satellites into space Friday morning, Novogratz tweeted: Wish they would tokenize @SpaceX
This is very cool. Hats off @elonmusk. Wish they would tokenize @SpaceX This is very cool. Hats off @elonmusk https://t.co/J8oRqB0nPf Michael Novogratz (@novogratz) May 24, 2019 Subject to regulatory restrictions, companies can tokenize their stock by issuing shares on a blockchain. Novogratz and others believe security tokens cryptocurrencies that represent ownership in other assets could upend Wall Street. Facebook is Wildly Important for Crypto When Novogratz spoke to CNBC following his tweet, he didnt float the idea of Elon Musk launching SpaceX stock into the blockchain orbit. Read the full story on CCN.com . || Top 5 Crypto Performers: BSV, BNB, LTC, BCH, DASH: The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.
The market data is provided by theHitBTCexchange.
Instant messaging service Telegram reportedlyplansto launch its Telegram Open Network (TON) in the third quarter of this year. It hascreateda new programming language called Fift, which will help develop and manage TON blockchain smart contracts and interact with the TON Virtual Machine.
On the other hand, Facebook is allegedly planning tolaunchits own cryptocurrency in early 2020. The company expects its large user base to start using its cryptocurrency in a dozen countries for making purchases, transferring money and more. Mark Zuckerberg, the founder and chief executive of Facebook, has reportedly discussed the project with U.S. Treasury officials along with Mark Carney, the governor of the Bank of England.
Bitcoin bull Michael Novogratz believes that one of the crypto assets created by the above-mentioned companies is likely to besuccessfuland can even have a “chance to be a real currency.” He also reiterated that the “crypto winter is over” in comments this week. And, according to token rating platform ICObench, theICO sectoris showing a higher success rate as the sentiment improves.
Bitcoin sv (BSV) was the best performer among the major cryptocurrencies with a rally of above 60% in the past seven days. The boost came amid the news that nChain founder Craig Wright hadfiledUnited States copyright registrations for the Bitcoin white paper and the original code used to build Bitcoin. However, the bitcoin community and a few expertsdo notconsider this to be an important event that can alter the fortunes of bitcoin sv. But what do the charts project? Let us find out.
TheBSV/USDpair skyrocketed this week and reached the overhead resistance of $134.360. However, profit booking and selling just above this resistance resulted in the pair giving up a large part of its gains. The cryptocurrency should find some support at the current levels, failing which, the drop can extend to $82.489 and lower.
While the sharp up move from the lows shows buying at lower levels, the failure to hold onto the gains shows a lack of demand at higher levels. The pair will pick up momentum on a close (UTC time frame) above $134.360 and will weaken below $38.528. Until then, it is likely to remain range bound between these two levels.
Binance coin (BNB) has been one of the strongest performers among the major coins: it has consistently made new highs and is in a strong uptrend. Riding high on its success, cryptocurrency exchange Binance is reportedly planning to offermargintrading to its clients. The exchange is also giving away $1,000 of $ONE tokens to celebrate thelaunchof the forthcoming token sale. How far can the rally continue? Let us find out.
TheBNB/USDpair is in a strong uptrend and has picked up momentum after breaking out of previous lifetime highs. Earlier, the resistance line had acted as a major roadblock, but the bulls are currently attempting to breakout of it. If successful, the rally can extend to $40 and above it to $46.1645899, which is a 1.618 Fibonacci extension level.
But the rally is getting vertical and the RSI on the weekly charts is threatening to enter deeply overbought territory. This shows that the up move has been overdone in the short-term, and that a minor correction or consolidation can start between $40 and $46.1645899.
Litecoin (LTC) is benefitting from the positive sentiment in the crypto space, and the forthcominghalvinghas added to the bullishness. A series oftweetsby OKEx pointing to some kind of an announcement regarding Litecoin has also heightened interests. Can the upward move continue?
TheLTC/USDpair has completed a cup and handle reversal pattern that has a minimum target objective of $158.81. If the momentum continues, the upward move can extend to $172.647. The moving averages completed a bullish crossover a couple of weeks back and the 20-week EMA is sloping up: this shows that the bulls have the upper hand.
Our bullish view will be invalidated if the cryptocurrency fails to sustain the breakout and dips below the support of $91 once again. The support levels to watch on the downside are $84.3439, $74.6054 and below it to $60.1980.
Two miners who control about 43% of the bitcoin cash (BCH) mining pool, BTC.top and BTC.com, joined hands this week and executed a51% attackto stop an unknown miner from taking coins that were accidentally sent to “anyone can spend” addresses. In this case, the attackers did not carry out the 51% attack for their own benefit, but still some believe that it shows that the cryptocurrency is too centralized. How does its chart look?
TheBCH/USDpair is currently rising inside an ascending channel. It has crossed above both the moving averages, which is a positive sign. The bulls are facing selling at the resistance line of the channel, but the positive thing is that the pair has not given up ground. If the price holds above the 50-week SMA, we should see another attempt to breakout of the channel. If successful, a rally to $620 is probable.
On the contrary, if the bulls fail to scale the resistance line of the channel, the digital currency can dip to the support line of the channel, closer to $300. A breakdown of this support will break the trend.
Dash (DASH) released its latest version 0.14 on the mainnet, which is another step leading to version 1.0, dubbed evolution. The upgrade improves the security of the network against 51% mining attacks, the first for proof-of-work networks, according to Dash Core CEO Ryan Taylor. An analysis by Cryptoslate shows that DASH has seen a growth of 58% in the active address count from 2018 to 2019, the largest growth among the major coins. This was reportedly mainly due to the surge in usage in crisis-hit Venezuela.
TheDASH/USDpair has been facing resistance at $176.81 since the past week, and a breakout of this barrier will propel the pair to the next level of $229.24. We expect the bulls to again face selling at these levels. Currently, both the moving averages are on the verge of a bullish crossover and the RSI is in the positive territory. This shows that the bulls are at an advantage.
However, if the digital currency turns down from $176.81, it might enter into a consolidation. The support of the range will be at $107.36, and a break of this support will be a bearish sign.
The market data is provided by theHitBTCexchange. Charts for analysis are provided byTradingView.
• Crypto Markets Turn Red, Indian Stock Markets Post Record Highs Amid Election Results
• Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, EOS, Binance Coin, Stellar, Cardano, TRON: Price Analysis May 27
• Bitcoin Hits Highest Price Point in Over a Year, Pushing Toward $9,000
• Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Binance Coin, Stellar, Cardano, TRON: Price Analysis May 22 || Top 5 Crypto Performers: BSV, BNB, LTC, BCH, DASH: The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision. The market data is provided by the HitBTC exchange. Instant messaging service Telegram reportedly plans to launch its Telegram Open Network (TON) in the third quarter of this year. It has created a new programming language called Fift, which will help develop and manage TON blockchain smart contracts and interact with the TON Virtual Machine. On the other hand, Facebook is allegedly planning to launch its own cryptocurrency in early 2020. The company expects its large user base to start using its cryptocurrency in a dozen countries for making purchases, transferring money and more. Mark Zuckerberg, the founder and chief executive of Facebook, has reportedly discussed the project with U.S. Treasury officials along with Mark Carney, the governor of the Bank of England. Bitcoin bull Michael Novogratz believes that one of the crypto assets created by the above-mentioned companies is likely to be successful and can even have a “chance to be a real currency.” He also reiterated that the “crypto winter is over” in comments this week. And, according to token rating platform ICObench, the ICO sector is showing a higher success rate as the sentiment improves. BSV/USD Bitcoin sv ( BSV ) was the best performer among the major cryptocurrencies with a rally of above 60% in the past seven days. The boost came amid the news that nChain founder Craig Wright had filed United States copyright registrations for the Bitcoin white paper and the original code used to build Bitcoin. However, the bitcoin community and a few experts do not consider this to be an important event that can alter the fortunes of bitcoin sv. But what do the charts project? Let us find out. BSV/USD The BSV/USD pair skyrocketed this week and reached the overhead resistance of $134.360. However, profit booking and selling just above this resistance resulted in the pair giving up a large part of its gains. The cryptocurrency should find some support at the current levels, failing which, the drop can extend to $82.489 and lower. Story continues While the sharp up move from the lows shows buying at lower levels, the failure to hold onto the gains shows a lack of demand at higher levels. The pair will pick up momentum on a close (UTC time frame) above $134.360 and will weaken below $38.528. Until then, it is likely to remain range bound between these two levels. BNB/USD Binance coin ( BNB ) has been one of the strongest performers among the major coins: it has consistently made new highs and is in a strong uptrend. Riding high on its success, cryptocurrency exchange Binance is reportedly planning to offer margin trading to its clients. The exchange is also giving away $1,000 of $ONE tokens to celebrate the launch of the forthcoming token sale. How far can the rally continue? Let us find out. BNB/USD The BNB/USD pair is in a strong uptrend and has picked up momentum after breaking out of previous lifetime highs. Earlier, the resistance line had acted as a major roadblock, but the bulls are currently attempting to breakout of it. If successful, the rally can extend to $40 and above it to $46.1645899, which is a 1.618 Fibonacci extension level. But the rally is getting vertical and the RSI on the weekly charts is threatening to enter deeply overbought territory. This shows that the up move has been overdone in the short-term, and that a minor correction or consolidation can start between $40 and $46.1645899. LTC/USD Litecoin ( LTC ) is benefitting from the positive sentiment in the crypto space, and the forthcoming halving has added to the bullishness. A series of tweets by OKEx pointing to some kind of an announcement regarding Litecoin has also heightened interests. Can the upward move continue? LTC/USD The LTC/USD pair has completed a cup and handle reversal pattern that has a minimum target objective of $158.81. If the momentum continues, the upward move can extend to $172.647. The moving averages completed a bullish crossover a couple of weeks back and the 20-week EMA is sloping up: this shows that the bulls have the upper hand. Our bullish view will be invalidated if the cryptocurrency fails to sustain the breakout and dips below the support of $91 once again. The support levels to watch on the downside are $84.3439, $74.6054 and below it to $60.1980. BCH/USD Two miners who control about 43% of the bitcoin cash ( BCH ) mining pool, BTC.top and BTC.com, joined hands this week and executed a 51% attack to stop an unknown miner from taking coins that were accidentally sent to “anyone can spend” addresses. In this case, the attackers did not carry out the 51% attack for their own benefit, but still some believe that it shows that the cryptocurrency is too centralized. How does its chart look? BCH/USD The BCH/USD pair is currently rising inside an ascending channel. It has crossed above both the moving averages, which is a positive sign. The bulls are facing selling at the resistance line of the channel, but the positive thing is that the pair has not given up ground. If the price holds above the 50-week SMA, we should see another attempt to breakout of the channel. If successful, a rally to $620 is probable. On the contrary, if the bulls fail to scale the resistance line of the channel, the digital currency can dip to the support line of the channel, closer to $300. A breakdown of this support will break the trend. DASH/USD Dash ( DASH ) released its latest version 0.14 on the mainnet, which is another step leading to version 1.0, dubbed evolution. The upgrade improves the security of the network against 51% mining attacks, the first for proof-of-work networks, according to Dash Core CEO Ryan Taylor. An analysis by Cryptoslate shows that DASH has seen a growth of 58% in the active address count from 2018 to 2019, the largest growth among the major coins. This was reportedly mainly due to the surge in usage in crisis-hit Venezuela. DASH/USD The DASH/USD pair has been facing resistance at $176.81 since the past week, and a breakout of this barrier will propel the pair to the next level of $229.24. We expect the bulls to again face selling at these levels. Currently, both the moving averages are on the verge of a bullish crossover and the RSI is in the positive territory. This shows that the bulls are at an advantage. However, if the digital currency turns down from $176.81, it might enter into a consolidation. The support of the range will be at $107.36, and a break of this support will be a bearish sign. The market data is provided by the HitBTC exchange. Charts for analysis are provided by TradingView . Related Articles: Crypto Markets Turn Red, Indian Stock Markets Post Record Highs Amid Election Results Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, EOS, Binance Coin, Stellar, Cardano, TRON: Price Analysis May 27 Bitcoin Hits Highest Price Point in Over a Year, Pushing Toward $9,000 Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Binance Coin, Stellar, Cardano, TRON: Price Analysis May 22 || Bitcoin Climbs Above 8,506.9 Level, Up 6%: Investing.com - Bitcoin rose above the $8,506.9 threshold on Sunday. Bitcoin was trading at 8,506.9 by 16:01 (20:01 GMT) on the Investing.com Index, up 6.28% on the day. It was the largest one-day percentage gain since May 19.
The move upwards pushed Bitcoin's market cap up to $149.8B, or 57.46% of the total cryptocurrency market cap. At its highest, Bitcoin's market cap was $241.2B.
Bitcoin had traded in a range of $7,866.5 to $8,506.9 in the previous twenty-four hours.
Over the past seven days, Bitcoin has seen a rise in value, as it gained 5.48%. The volume of Bitcoin traded in the twenty-four hours to time of writing was $22.6B or 33.84% of the total volume of all cryptocurrencies. It has traded in a range of $7,486.7808 to $8,506.9629 in the past 7 days.
At its current price, Bitcoin is still down 57.19% from its all-time high of $19,870.62 set on December 17, 2017.
Ethereum was last at $259.33 on the Investing.com Index, up 3.83% on the day.
XRP was trading at $0.39250 on the Investing.com Index, a gain of 2.79%.
Ethereum's market cap was last at $27.6B or 10.59% of the total cryptocurrency market cap, while XRP's market cap totaled $16.7B or 6.39% of the total cryptocurrency market value.
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Hodler’s Digest, May 20–26: Top Stories, Price Movements, Quotes and FUD of the Week
Top 5 Crypto Performers: BSV, BNB, LTC, BCH, DASH
Crypto-Italy: Institutions, Politics, Business and Society || Bitcoin Climbs Above 8,506.9 Level, Up 6%: Investing.com - Bitcoin rose above the $8,506.9 threshold on Sunday. Bitcoin was trading at 8,506.9 by 16:01 (20:01 GMT) on the Investing.com Index, up 6.28% on the day. It was the largest one-day percentage gain since May 19. The move upwards pushed Bitcoin's market cap up to $149.8B, or 57.46% of the total cryptocurrency market cap. At its highest, Bitcoin's market cap was $241.2B. Bitcoin had traded in a range of $7,866.5 to $8,506.9 in the previous twenty-four hours. Over the past seven days, Bitcoin has seen a rise in value, as it gained 5.48%. The volume of Bitcoin traded in the twenty-four hours to time of writing was $22.6B or 33.84% of the total volume of all cryptocurrencies. It has traded in a range of $7,486.7808 to $8,506.9629 in the past 7 days. At its current price, Bitcoin is still down 57.19% from its all-time high of $19,870.62 set on December 17, 2017. Elsewhere in cryptocurrency trading Ethereum was last at $259.33 on the Investing.com Index, up 3.83% on the day. XRP was trading at $0.39250 on the Investing.com Index, a gain of 2.79%. Ethereum's market cap was last at $27.6B or 10.59% of the total cryptocurrency market cap, while XRP's market cap totaled $16.7B or 6.39% of the total cryptocurrency market value. Related Articles Hodlers Digest, May 2026: Top Stories, Price Movements, Quotes and FUD of the Week Top 5 Crypto Performers: BSV, BNB, LTC, BCH, DASH Crypto-Italy: Institutions, Politics, Business and Society || Bitcoin Climbs Above 8,506.9 Level, Up 6%: Investing.com - Bitcoin rose above the $8,506.9 threshold on Sunday. Bitcoin was trading at 8,506.9 by 16:01 (20:01 GMT) on the Investing.com Index, up 6.28% on the day. It was the largest one-day percentage gain since May 19.
The move upwards pushed Bitcoin's market cap up to $149.8B, or 57.46% of the total cryptocurrency market cap. At its highest, Bitcoin's market cap was $241.2B.
Bitcoin had traded in a range of $7,866.5 to $8,506.9 in the previous twenty-four hours.
Over the past seven days, Bitcoin has seen a rise in value, as it gained 5.48%. The volume of Bitcoin traded in the twenty-four hours to time of writing was $22.6B or 33.84% of the total volume of all cryptocurrencies. It has traded in a range of $7,486.7808 to $8,506.9629 in the past 7 days.
At its current price, Bitcoin is still down 57.19% from its all-time high of $19,870.62 set on December 17, 2017.
Ethereum was last at $259.33 on the Investing.com Index, up 3.83% on the day.
XRP was trading at $0.39250 on the Investing.com Index, a gain of 2.79%.
Ethereum's market cap was last at $27.6B or 10.59% of the total cryptocurrency market cap, while XRP's market cap totaled $16.7B or 6.39% of the total cryptocurrency market value.
Related Articles
Hodler’s Digest, May 20–26: Top Stories, Price Movements, Quotes and FUD of the Week
Top 5 Crypto Performers: BSV, BNB, LTC, BCH, DASH
Crypto-Italy: Institutions, Politics, Business and Society || Bitcoin Dips Below $8K Again as Top Altcoins See Mild Losses: Sunday, May 26 most of the top 20 cryptocurrencies are reporting moderate losses on the day by press time, as bitcoin ( BTC ) falls under the $8,000 mark again. Market visualization Market visualization courtesy of Coin360 Bitcoin is down less than one percent on the day, trading at $7,990 at press time, according to CoinMarketCap . Looking at its weekly chart, the coin has seen almost no net change, up about a fraction of a percent. Bitcoin 7-day price chart Bitcoin 7-day price chart. Source: CoinMarketCap Ether ( ETH ) is holding onto its position as the largest altcoin by market cap, which currently stands at $26.5 billion. The second-largest altcoin, XRP , has a market cap of $16.2 billion at press time. CoinMarketCap data shows that ETH is down a little over half a percent over the last 24 hours. At press time, ETH is trading around $250. On the week, the coin has also seen its value decrease by about two percent. Ether 7-day price chart Ether 7-day price chart. Source: CoinMarketCap Ripples XRP is just under one percent down over the last 24 hours and is currently trading at around $0.384 . On the week, the coin is down a more notable 5%. XRP 7-day price chart XRP 7-day price chart. Source: CoinMarketCap Among the top 20 cryptocurrencies, the one reporting most notable price action is bitcoin SV ( BSV ), which is over 17% up at press time. Earlier this week news broke that BSV proponent Craig Wright has filed United States copyright registrations for the bitcoin white paper authored by Satoshi Nakamoto . At press time, the total market capitalization of all cryptocurrencies is $249.1 billion, about the same value it reported a week ago. Total market capitalization 7-day chart Total market capitalization 7-day chart. Source: CoinMarketCap As Cointelegraph reported earlier today, following its hard fork on May 15, bitcoin cash ( BCH ) appears to have experienced a two-block chain reorganization resulting in a 3,392 BCH (about $1.35 million at press time) double spend. Related Articles: Bitcoin Hits Highest Price Point in Over a Year, Pushing Toward $9,000 Bitcoin Holds Over $8,000 as Top Altcoins See Minor Losses Bitcoin Crosses $8,000 as Major Oil Futures See Losses Bitcoin Falls Under $7,900 as US Stock Market Sees Minor Uptrend || Bitcoin Dips Below $8K Again as Top Altcoins See Mild Losses: Sunday, May 26 — most of the top 20cryptocurrenciesare reporting moderate losses on the day by press time, as bitcoin (BTC) falls under the $8,000 mark again.
Market visualization courtesy ofCoin360
Bitcoin is down less than one percent on the day, trading at$7,990at press time, according toCoinMarketCap. Looking at its weekly chart, the coin has seen almost no net change, up about a fraction of a percent.
Bitcoin 7-day price chart. Source:CoinMarketCap
Ether (ETH) is holding onto its position as the largest altcoin by market cap, which currently stands at $26.5 billion. The second-largest altcoin,XRP, has a market cap of $16.2 billion at press time.
CoinMarketCap data shows that ETH is down a little over half a percent over the last 24 hours. At press time, ETH is trading around $250. On the week, the coin has also seen its value decrease by about two percent.
Ether 7-day price chart. Source:CoinMarketCap
Ripple’s XRP is just under one percent down over the last 24 hours and is currently trading at around$0.384. On the week, the coin is down a more notable 5%.
XRP 7-day price chart. Source:CoinMarketCap
Among the top 20 cryptocurrencies, the one reporting most notable price action is bitcoin SV (BSV), which is over 17% up at press time.
Earlier this weeknews brokethat BSV proponentCraig Wrighthas filedUnited Statescopyright registrations for the bitcoin white paper authored bySatoshi Nakamoto.
At press time, thetotal market capitalizationof all cryptocurrencies is $249.1 billion, about the same value it reported a week ago.
Total market capitalization 7-day chart. Source:CoinMarketCap
As Cointelegraphreportedearlier today, following itshard forkon May 15, bitcoin cash (BCH) appears to have experienced a two-block chain reorganization resulting in a 3,392 BCH (about $1.35 million at press time) double spend.
• Bitcoin Hits Highest Price Point in Over a Year, Pushing Toward $9,000
• Bitcoin Holds Over $8,000 as Top Altcoins See Minor Losses
• Bitcoin Crosses $8,000 as Major Oil Futures See Losses
• Bitcoin Falls Under $7,900 as US Stock Market Sees Minor Uptrend || Bitcoin Dips Below $8K Again as Top Altcoins See Mild Losses: Sunday, May 26 — most of the top 20cryptocurrenciesare reporting moderate losses on the day by press time, as bitcoin (BTC) falls under the $8,000 mark again.
Market visualization courtesy ofCoin360
Bitcoin is down less than one percent on the day, trading at$7,990at press time, according toCoinMarketCap. Looking at its weekly chart, the coin has seen almost no net change, up about a fraction of a percent.
Bitcoin 7-day price chart. Source:CoinMarketCap
Ether (ETH) is holding onto its position as the largest altcoin by market cap, which currently stands at $26.5 billion. The second-largest altcoin,XRP, has a market cap of $16.2 billion at press time.
CoinMarketCap data shows that ETH is down a little over half a percent over the last 24 hours. At press time, ETH is trading around $250. On the week, the coin has also seen its value decrease by about two percent.
Ether 7-day price chart. Source:CoinMarketCap
Ripple’s XRP is just under one percent down over the last 24 hours and is currently trading at around$0.384. On the week, the coin is down a more notable 5%.
XRP 7-day price chart. Source:CoinMarketCap
Among the top 20 cryptocurrencies, the one reporting most notable price action is bitcoin SV (BSV), which is over 17% up at press time.
Earlier this weeknews brokethat BSV proponentCraig Wrighthas filedUnited Statescopyright registrations for the bitcoin white paper authored bySatoshi Nakamoto.
At press time, thetotal market capitalizationof all cryptocurrencies is $249.1 billion, about the same value it reported a week ago.
Total market capitalization 7-day chart. Source:CoinMarketCap
As Cointelegraphreportedearlier today, following itshard forkon May 15, bitcoin cash (BCH) appears to have experienced a two-block chain reorganization resulting in a 3,392 BCH (about $1.35 million at press time) double spend.
• Bitcoin Hits Highest Price Point in Over a Year, Pushing Toward $9,000
• Bitcoin Holds Over $8,000 as Top Altcoins See Minor Losses
• Bitcoin Crosses $8,000 as Major Oil Futures See Losses
• Bitcoin Falls Under $7,900 as US Stock Market Sees Minor Uptrend
[Social Media Buzz]
@inversebrah Bitcoin $BTC needs strong code to survive, if the code is exploitable, the code is worthless.
Altcoins are for crypto adoption, as they love large communities. Also, since the coins are largely worthless, it doesn't matter if the code breaks, or if it even exists at all. || #BTC tuffar på, går vi över $9k innan morgonbitti? #crypto #cryptocurrency #bitcoin || Let's #buidl and #CreatingValuableTXs #veChain #Vet #BrightCode $VTHO #DNVGL $OCE #DBET #PLA $BTC || Ripple (XRP) Price Showi...
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8719.96, 8659.49, 8319.47, 8574.50, 8564.02, 8742.96, 8209.00, 7707.77, 7824.23, 7822.02
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Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 917.59, 919.75, 921.59, 919.50, 920.38, 970.40, 989.02, 1011.80, 1029.91, 1042.90, 1027.34, 1038.15, 1061.35, 1063.07, 994.38, 988.67, 1004.45, 999.18, 990.64, 1004.55, 1007.48, 1027.44, 1046.21, 1054.42, 1047.87, 1079.98, 1115.30, 1117.44, 1166.72, 1173.68, 1143.84, 1165.20, 1179.97, 1179.97, 1222.50, 1251.01, 1274.99, 1255.15, 1267.12, 1272.83, 1223.54, 1150.00, 1188.49, 1116.72, 1175.83, 1221.38, 1231.92, 1240.00, 1249.61, 1187.81, 1100.23, 973.82, 1036.74, 1054.23, 1120.54, 1049.14, 1038.59, 937.52, 972.78, 966.72, 1045.77, 1047.15, 1039.97, 1026.43, 1071.79, 1080.50, 1102.17, 1143.81, 1133.25, 1124.78, 1182.68, 1176.90, 1175.95, 1187.87, 1187.13, 1205.01, 1200.37, 1169.28, 1167.54, 1172.52, 1182.94, 1193.91, 1211.67, 1210.29, 1229.08, 1222.05, 1231.71, 1207.21, 1250.15, 1265.49.
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[Bitcoin Technical Analysis for 2017-04-25]
Volume: 242556000, RSI (14-day): 66.29, 50-day EMA: 1150.97, 200-day EMA: 963.18
[Wider Market Context]
Gold Price: 1265.60, Gold RSI: 52.53
Oil Price: 49.56, Oil RSI: 40.93
[Recent News (last 7 days)]
Inside the World's Greatest Scavenger Hunt, Part 2: GISHWHES stands for the Greatest International Scavenger Hunt the World Has Ever Seen . Teams of 15 have one week to complete a list of 200 difficult, charitable, or hilarious tasks. They prove they’ve completed each item by submitting a photo or video of it; their $20 entry fees go to a charity, and the winning team gets a trip to an exotic location. This is Part 2 of our five-part series that goes inside the hunt. Part 1 • Part 2 • Part 3 • Part 4 • Part 5 Part 2: The hunt begins At 7:30 am on a bright Saturday morning, five members of Team Raised from Perdition gather near San Francisco. (The team name quotes the first line of dialogue ever spoken by Misha Collins on the cult hit show “Supernatural,” now in its twelfth season. He’s GISHWHES’s creator and organizer.) The other 12 members of the team join by video conference, via Google Hangouts, from their homes in Florida, Connecticut, Illinois, Hawaii, Tennessee, and Brazil. Although this is the team’s third year in the hunt, most have never met in person. They’ve never been all in one place. That’s typical for teams in this hunt, which is very much a creation of the Internet. Jason Sarten, an opera singer, reads off this year’s list, which includes items like: Get dental work done while a string quartet plays live music in the room. Enjoy some green eggs and ham (sunny-side up) on a boat with a goat. Provide evidence of having helped at least 10 eligible United States citizens to register to vote. Paint a portrait of a live model while both you and the model are scuba diving. Get an Amazon senior executive to order a small item from you, in a timestamped email. Using a drone, deliver the item to the executive (who must be waiting outside the office building) in less than one hour. Over 3,000 teams sign up to play GISHWHES each year, and there are nearly as many styles of running the hunt. On some teams, there’s nobody in charge. On others, there’s a captain who organizes but doesn’t actually perform any of the items. Flake-outs—people who say they’ll participate, but are no-shows when the hunt begins—are a common problem. Story continues Team Raised from Perdition is run by a pair of co-captains, Nina Mostepan and Geoff McAnally, who also perform tasks. (In real life, Mostepan teaches at an Early Start program for the deaf and hard of hearing, and McAnally is an American sign language interpreter.) The corn-husk gown One reason Raised From Perdition starts off the week with a group pow-wow: To let the team members claim the items they’re good at. For example, in Vancouver, Rob Fitz-James and Shiane Gailey live together and compete together. (He owns a tree stump-removal company; she’s a children’s entertainer.) They have radically different skills. “We work well as a team because I’m outgoing and I’ll go and do stuff in person; she’s able to manage social media, uploading, and photo and video editing,” Rob says. Shiane, fortunately for the team, is also wildly creative. After the hunt-launch meeting, she jumps on item 23: “Make this year’s must-have fashion statement: the Corn Husk Evening Wear!” Rob persuades a local thrift shop to donate a Justin Bieber bedsheet. (“Thankfully, someone grew out of a horrible phase in their life,” he says.) Shiane duct-tapes corn husks to a hoop skirt—well, the front half, the part that would be visible in the photo. “Then we spray-painted it red and yellow to make flames, and then we went downtown,” she says. “I assembled that thing onto myself in a fancy part of time, and took the picture at the Convention Center. (We got permission, of course.)” There were funny looks, she says, but she checked off item 23 as completed on the team’s master Google Sheets spreadsheet. Corn Husk Evening Wear! The space balloon Meanwhile, in Connecticut, Tia is struggling with item 153: “Secure a legitimate contract with Space X, NASA, etc., to send a message into space, addressed to the universe and written by a child. You must submit evidence that your payload was successfully launched into orbit.” It sounds impossible. Like NASA is going to carry a scavenger-hunt player’s note into space on short notice? No wonder item 153 is worth more points (314) than anything else on the list. Frantic, Tia Googles until she comes across a British company called SentIntoSpace.com . They sell near-space helium balloon kits to schools, hobbyists, marketers, and filmmakers, including everything they need to send small payloads into near space. Incredibly, the company responds to her email and agrees to donate a balloon to the cause. Destination: space! The launch goes well; the landing, not so much. Upon its return from space, the balloon blows off course and becomes ensnared high in the treetops of a dense, mountainous forest. Tia and her team of friends search until nightfall, following the signals of the satellite tracker in the payload box—but can’t find the thing. And without recovering the two GoPro cameras in its payload box, she won’t have the footage of space she needed. And without that—no credit for item 153, and little chance of winning GISHWHES. Deeply discouraged, she returns home. When things go wrong Item 153 isn’t the only GISHWHES item that’s ever gone wrong. Almost every year, an item or two disappears from the list after the hunt is under way. That’s when GISHWHES mastermind Misha Collins realizes too late that he’s created a dangerous or foolhardy challenge. “There have been people who have been arrested and court martialed and injured during the course of various GISHWHES over the years,” he says. “The second year, we had an item on the list that was, ‘Wrap yourself up in Christmas-tree lights. Plug them in and stand on the roof of a house.’ “And the very first day of the hunt, some of the submissions came in. And one of them was a photo of somebody standing on the peak of a three-story house, right at the edge, on the eave, completely entangled and ensnared in Christmas tree lights. And I immediately thought, ‘WHAT HAVE WE DONE?! There is no way that we can run this scavenger hunt and have somebody not perish from this item!’ “So I immediately sent out an e-mail saying, ‘Do not do the Christmas-tree lights on the roof item! Terrible idea.’ “And so that was sort of an ‘Aha!’ moment for me when I realized, ‘Oh, there are a lot of people who are doing whatever I say. I can’t just come up with whatever pops into my head and have them carry it out.” The hunt is on In 100 countries around the world, teams are sacrificing sleep, health, and me time as they scramble to knock off items on the list. More or less simultaneously, they’re all discovering what Team Raised from Perdition has learned: that it’s very hard to get an item into orbit on short notice, that goats don’t much enjoy floating in boats, and that Amazon.com has no intention of permitting its executives to participate in item 161. Join us for Part 3 of this series, which dives into the charitable side of GISHWHES—and documents the biggest water-balloon battle ever staged. Well, in San Francisco. In Dolores Park. That we know of. Part 1 • Part 2 • Part 3 • Part 4 • Part 5 More from David Pogue: The David Pogue Review: Windows 10 Creators Update Now I get it: Bitcoin David Pogue tested 47 pill-reminder apps to find the best one David Pogue’s search for the world’s best air-travel app The little-known iPhone feature that lets blind people see with their fingers David Pogue, tech columnist for Yahoo Finance, welcomes nontoxic comments in the comments section below. On the web, he’s davidpogue.com . On Twitter, he’s @pogue . On email, he’s poguester@yahoo.com. You can read all his articles here , or you can sign up to get his columns by email . || Inside the World's Greatest Scavenger Hunt, Part 2: GISHWHES stands for theGreatest International Scavenger Hunt the World Has Ever Seen. Teams of 15 have one week to complete a list of 200 difficult, charitable, or hilarious tasks. They prove they’ve completed each item by submitting a photo or video of it; their $20 entry fees go to a charity, and the winning team gets a trip to an exotic location.
This is Part 2 of our five-part series that goes inside the hunt.
Part 1• Part 2 •Part 3•Part 4•Part 5
At 7:30 am on a bright Saturday morning, five members of Team Raised from Perdition gather near San Francisco. (The team name quotes the first line of dialogue ever spoken by Misha Collins on the cult hit show “Supernatural,” now in its twelfth season. He’s GISHWHES’s creator and organizer.)
The other 12 members of the team join by video conference, via Google Hangouts, from their homes in Florida, Connecticut, Illinois, Hawaii, Tennessee, and Brazil.
Although this is the team’s third year in the hunt, most have never met in person. They’ve never been all in one place. That’s typical for teams in this hunt, which is very much a creation of the Internet.
Jason Sarten, an opera singer, reads off this year’s list, which includes items like:
• Get dental work done while a string quartet plays live music in the room.
• Enjoy some green eggs and ham (sunny-side up) on a boat with a goat.
• Provide evidence of having helped at least 10 eligible United States citizens to register to vote.
• Paint a portrait of a live model while both you and the model are scuba diving.
• Get an Amazon senior executive to order a small item from you, in a timestamped email. Using a drone, deliver the item to the executive (who must be waiting outside the office building) in less than one hour.
Over 3,000 teams sign up to play GISHWHES each year, and there are nearly as many styles of running the hunt. On some teams, there’s nobody in charge. On others, there’s a captain who organizes but doesn’t actually perform any of the items. Flake-outs—people who say they’ll participate, but are no-shows when the hunt begins—are a common problem.
Team Raised from Perdition is run by a pair of co-captains, Nina Mostepan and Geoff McAnally, who also perform tasks. (In real life, Mostepan teaches at an Early Start program for the deaf and hard of hearing, and McAnally is an American sign language interpreter.)
One reason Raised From Perdition starts off the week with a group pow-wow: To let the team members claim the items they’re good at.
For example, in Vancouver, Rob Fitz-James and Shiane Gailey live together and compete together. (He owns a tree stump-removal company; she’s a children’s entertainer.)
They have radically different skills. “We work well as a team because I’m outgoing and I’ll go and do stuff in person; she’s able to manage social media, uploading, and photo and video editing,” Rob says.
Shiane, fortunately for the team, is also wildly creative. After the hunt-launch meeting, she jumps on item 23: “Make this year’s must-have fashion statement: the Corn Husk Evening Wear!”
Rob persuades a local thrift shop to donate a Justin Bieber bedsheet. (“Thankfully, someone grew out of a horrible phase in their life,” he says.) Shiane duct-tapes corn husks to a hoop skirt—well, the front half, the part that would be visible in the photo. “Then we spray-painted it red and yellow to make flames, and then we went downtown,” she says. “I assembled that thing onto myself in a fancy part of time, and took the picture at the Convention Center. (We got permission, of course.)”
There were funny looks, she says, but she checked off item 23 as completed on the team’s master Google Sheets spreadsheet.
Meanwhile, in Connecticut, Tia is struggling with item 153: “Secure a legitimate contract with Space X, NASA, etc., to send a message into space, addressed to the universe and written by a child. You must submit evidence that your payload was successfully launched into orbit.”
It sounds impossible. Like NASA is going to carry a scavenger-hunt player’s note into space on short notice?
No wonder item 153 is worth more points (314) than anything else on the list.
Frantic, Tia Googles until she comes across a British company calledSentIntoSpace.com. They sell near-space helium balloon kits to schools, hobbyists, marketers, and filmmakers, including everything they need to send small payloads into near space. Incredibly, the company responds to her email and agrees to donate a balloon to the cause.
The launch goes well; the landing, not so much. Upon its return from space, the balloon blows off course and becomes ensnared high in the treetops of a dense, mountainous forest.
Tia and her team of friends search until nightfall, following the signals of the satellite tracker in the payload box—but can’t find the thing. And without recovering the two GoPro cameras in its payload box, she won’t have the footage of space she needed.
And without that—no credit for item 153, and little chance of winning GISHWHES. Deeply discouraged, she returns home.
Item 153 isn’t the only GISHWHES item that’s ever gone wrong. Almost every year, an item or twodisappearsfrom the list after the hunt is under way. That’s when GISHWHES mastermind Misha Collins realizes too late that he’s created a dangerous or foolhardy challenge.
“There have been people who have been arrested and court martialed and injured during the course of various GISHWHES over the years,” he says. “The second year, we had an item on the list that was, ‘Wrap yourself up in Christmas-tree lights. Plug them in and stand on the roof of a house.’
“And the very first day of the hunt, some of the submissions came in. And one of them was a photo of somebody standing on the peak of a three-story house, right at the edge, on the eave, completely entangled and ensnared in Christmas tree lights. And I immediately thought, ‘WHAT HAVE WE DONE?! There is no way that we can run this scavenger hunt and have somebody not perish from this item!’
“So I immediately sent out an e-mail saying, ‘Do not do the Christmas-tree lights on the roof item! Terrible idea.’
“And so that was sort of an ‘Aha!’ moment for me when I realized, ‘Oh, there are a lot of people who are doing whatever I say. I can’t just come up with whatever pops into my head and have them carry it out.”
In 100 countries around the world, teams are sacrificing sleep, health, and me time as they scramble to knock off items on the list.
More or less simultaneously, they’re all discovering what Team Raised from Perdition has learned: that it’s very hard to get an item into orbit on short notice, that goats don’t much enjoy floating in boats, and that Amazon.com has no intention of permitting its executives to participate in item 161.
Join us forPart 3of this series, which dives into the charitable side of GISHWHES—and documents the biggest water-balloon battle ever staged.
Well, in San Francisco.
In Dolores Park.
That we know of.
Part 1• Part 2 •Part 3•Part 4•Part 5
More from David Pogue:
The David Pogue Review: Windows 10 Creators Update
Now I get it: Bitcoin
David Pogue tested 47 pill-reminder apps to find the best one
David Pogue’s search for the world’s best air-travel app
The little-known iPhone feature that lets blind people see with their fingers
David Pogue, tech columnist for Yahoo Finance, welcomes nontoxic comments in the comments section below. On the web, he’sdavidpogue.com. On Twitter, he’s@pogue. On email, he’s poguester@yahoo.com. You canread all his articles here, or you can sign up toget his columns by email. || Sports Fans Score as CONCACAF U-17s Kick Off on Flow Sports and Flow Sports Premier: MIAMI, FL--(Marketwired - Apr 21, 2017) - Flow customers score again as the 2017 Confederation of North, Central America and Caribbean Association Football (CONCACAF) Men's Under-17 World-Cup Qualifiers kick off on Flow Sports and Flow Sports Premier with multiplatform, on-the-go access via the Flow Sports app and website . Earlier this year Flow signed a partnership with CONCACAF to give customers a front row seat at both the Men's U-20 and U-17 championships. The winners of each division will go on to compete in the 2017 FIFA World Cup in India in October. The U-20s wrapped up on March 5 th , while the U-17s are set to take place in Panama from April 21 st to May 7 th . Sports fans can tune into Flow Sports , Flow Sports Premier and Flow 1 (for one game only 1 ) to watch all 25 live matches as twelve (12) teams from the Caribbean, Central America and North America vie to lock down their spot in the U-17 World Cup. Four (4) teams will advance. This year's line-up includes five (5) Caribbean nations -- Haiti, Jamaica, Cuba, Curacao and Suriname. "In keeping with our commitment to deliver high quality, relevant and unmatched Caribbean content, Flow Sports' viewers can look forward to yet another major sporting event to light up their screens," said Garry Sinclair, President of Cable & Wireless Caribbean. "Needless to say, the CONCACAF World Cup qualifier is one of the most important events for emerging Caribbean superstars and, as the Home of Sports in the Caribbean , it's only natural that football fans in the region would look to us to catch the action. We will continue to raise the bar and serve up great content like the CONCACAF championships for football lovers across the Caribbean." Along with the live segments, Flow Sports will also produce a pre-, post- and halftime show for the final on May 7 th . Hosts of the show include former professional footballer and Flow Sports Premier Weekly host Terry Fenwick , along with Trinidad & Tobago's U-17 coach Russell Latapy . Together they'll serve up detailed match discussions and provide fans with an expert perspective on tomorrow's Caribbean football stars. Story continues Commenting on the partnership with Flow, CONCACAF General Secretary Philippe Moggio said, "Ensuring the broadcast reach of our tournaments into the Caribbean has always been a priority for CONCACAF, and this deal with Flow helps us to immediately achieve that." Editor's Note: CONCACAF U-17 BROADCAST SCHEDULE 2017 Match Ups Broadcast Dates Time ECT Station 1 Curacao v Haiti Friday April 21 7:30 PM Flow Sports 2 Panama v Honduras 10:00 PM Flow Sports 3 Cuba v Suriname Saturday April 22 1:30 PM Flow Sports 4 Costa Rica v Canada 4:00 PM Flow Sports 5 Jamaica v USA Sunday April 23 1:30 PM Flow Sports 6 Mexico v El Salvador 4:00 PM Flow Sports 7 Honduras v Curacao Monday April 24 6:00 PM FS Premier 8 Panama v Haiti 8:30 PM Flow Sports 9 Canada v Cuba Tuesday April 25 3:00 PM Flow Sports 10 Costa Rica v Suriname 5:30 PM Flow Sports 11 1 El Salvador v Jamaica Wednesday April 26 4:00 PM Flow 1 12 Mexico v USA 6:30 PM FS Premier 13 Honduras v Haiti Thursday April 27 6:00 PM Flow Sports 14 Panama v Curacao 8:30 PM Flow Sports 15 Canada v Suriname Friday April 28 6:30 PM Flow Sports 16 Costa Rica v Cuba 9:00 PM Flow Sports 17 El Salvador v USA Saturday April 29 11:30 PM FS Premier 18 Mexico v Jamaica 2:00 PM Flow Sports 19 TBD Monday May 1 6:30 PM Flow Sports 20 TBD 9:00 PM Flow Sports 21 TBD Wednesday May 3 4:30 PM Flow Sports 22 TBD 7:00 PM Flow Sports 23 TBD Friday May 5 6:30 PM Flow Sports 24 TBD 9:00 PM Flow Sports 25 TBD Sunday May 7 (FINALS) 4:00 PM Flow Sports About CONCACAF The Confederation of North, Central America and Caribbean Association Football (CONCACAF) is the governing body for soccer in the region, and one of six continental authorities that administer the game along with FIFA. Formed in 1961 from the merger of the Football Confederation of Central America and the Caribbean and the North American Football Confederation, CONCACAF now has 41 member associations, from Canada in the north to Guyana, Suriname and French Guiana on the South American continent. As the administrative body for the region, CONCACAF organizes competitions, offers training courses in technical and administrative aspects of the game, and helps to build football throughout the region. About C&W Communications C&W is a full service communications and entertainment provider and delivers market-leading video, broadband, telephony and mobile services to consumers in 18 countries. Through its business division, C&W provides data center hosting, domestic and international managed network services, and customized IT service solutions, utilizing cloud technology to serve business and government customers. C&W also operates a state-of-the-art submarine fiber network -- the most extensive in the region. Learn more at www.cwc.com , or follow C&W on LinkedIn , Facebook or Twitter . About Liberty Global Liberty Global is the world's largest international TV and broadband company, with operations in more than 30 countries across Europe, Latin America and the Caribbean. We invest in the infrastructure that empowers our customers to make the most of the digital revolution. Our scale and commitment to innovation enable us to develop market-leading products delivered through next generation networks that connect our 25 million customers who subscribe to over 50 million television, broadband internet and telephony services. We also serve over 10 million mobile subscribers and offer WiFi service across 5 million access points. Liberty Global's businesses are comprised of two stocks: the Liberty Global Group ( NASDAQ : LBTYA ) ( LBTYB ) and ( NASDAQ : LBTYK ) for our European operations, and the LiLAC Group ( NASDAQ : LILA ) and ( NASDAQ : LILAK ) ( OTC PINK : LILAB ), which consists of our operations in Latin America and the Caribbean. The Liberty Global Group operates in 11 European countries under the consumer brands Virgin Media, Unitymedia, Telenet and UPC. The Liberty Global Group also owns 50% of VodafoneZiggo, a Dutch joint venture, which has 4 million customers, 10 million fixed-line subscribers and 5 million mobile subscribers. The LiLAC Group operates in over 20 countries in Latin America and the Caribbean under the consumer brands VTR, Flow, Liberty, Más Móvil and BTC. In addition, the LiLAC Group operates a sub-sea fiber network throughout the region in over 30 markets. For more information, please visit www.libertyglobal.com . || Sports Fans Score as CONCACAF U-17s Kick Off on Flow Sports and Flow Sports Premier: MIAMI, FL--(Marketwired - Apr 21, 2017) - Flow customers score again as the 2017 Confederation of North, Central America and Caribbean Association Football (CONCACAF) Men's Under-17 World-Cup Qualifiers kick off on Flow Sports and Flow Sports Premier with multiplatform, on-the-go access via the Flow Sports app and website . Earlier this year Flow signed a partnership with CONCACAF to give customers a front row seat at both the Men's U-20 and U-17 championships. The winners of each division will go on to compete in the 2017 FIFA World Cup in India in October. The U-20s wrapped up on March 5 th , while the U-17s are set to take place in Panama from April 21 st to May 7 th . Sports fans can tune into Flow Sports , Flow Sports Premier and Flow 1 (for one game only 1 ) to watch all 25 live matches as twelve (12) teams from the Caribbean, Central America and North America vie to lock down their spot in the U-17 World Cup. Four (4) teams will advance. This year's line-up includes five (5) Caribbean nations -- Haiti, Jamaica, Cuba, Curacao and Suriname. "In keeping with our commitment to deliver high quality, relevant and unmatched Caribbean content, Flow Sports' viewers can look forward to yet another major sporting event to light up their screens," said Garry Sinclair, President of Cable & Wireless Caribbean. "Needless to say, the CONCACAF World Cup qualifier is one of the most important events for emerging Caribbean superstars and, as the Home of Sports in the Caribbean , it's only natural that football fans in the region would look to us to catch the action. We will continue to raise the bar and serve up great content like the CONCACAF championships for football lovers across the Caribbean." Along with the live segments, Flow Sports will also produce a pre-, post- and halftime show for the final on May 7 th . Hosts of the show include former professional footballer and Flow Sports Premier Weekly host Terry Fenwick , along with Trinidad & Tobago's U-17 coach Russell Latapy . Together they'll serve up detailed match discussions and provide fans with an expert perspective on tomorrow's Caribbean football stars. Story continues Commenting on the partnership with Flow, CONCACAF General Secretary Philippe Moggio said, "Ensuring the broadcast reach of our tournaments into the Caribbean has always been a priority for CONCACAF, and this deal with Flow helps us to immediately achieve that." Editor's Note: CONCACAF U-17 BROADCAST SCHEDULE 2017 Match Ups Broadcast Dates Time ECT Station 1 Curacao v Haiti Friday April 21 7:30 PM Flow Sports 2 Panama v Honduras 10:00 PM Flow Sports 3 Cuba v Suriname Saturday April 22 1:30 PM Flow Sports 4 Costa Rica v Canada 4:00 PM Flow Sports 5 Jamaica v USA Sunday April 23 1:30 PM Flow Sports 6 Mexico v El Salvador 4:00 PM Flow Sports 7 Honduras v Curacao Monday April 24 6:00 PM FS Premier 8 Panama v Haiti 8:30 PM Flow Sports 9 Canada v Cuba Tuesday April 25 3:00 PM Flow Sports 10 Costa Rica v Suriname 5:30 PM Flow Sports 11 1 El Salvador v Jamaica Wednesday April 26 4:00 PM Flow 1 12 Mexico v USA 6:30 PM FS Premier 13 Honduras v Haiti Thursday April 27 6:00 PM Flow Sports 14 Panama v Curacao 8:30 PM Flow Sports 15 Canada v Suriname Friday April 28 6:30 PM Flow Sports 16 Costa Rica v Cuba 9:00 PM Flow Sports 17 El Salvador v USA Saturday April 29 11:30 PM FS Premier 18 Mexico v Jamaica 2:00 PM Flow Sports 19 TBD Monday May 1 6:30 PM Flow Sports 20 TBD 9:00 PM Flow Sports 21 TBD Wednesday May 3 4:30 PM Flow Sports 22 TBD 7:00 PM Flow Sports 23 TBD Friday May 5 6:30 PM Flow Sports 24 TBD 9:00 PM Flow Sports 25 TBD Sunday May 7 (FINALS) 4:00 PM Flow Sports About CONCACAF The Confederation of North, Central America and Caribbean Association Football (CONCACAF) is the governing body for soccer in the region, and one of six continental authorities that administer the game along with FIFA. Formed in 1961 from the merger of the Football Confederation of Central America and the Caribbean and the North American Football Confederation, CONCACAF now has 41 member associations, from Canada in the north to Guyana, Suriname and French Guiana on the South American continent. As the administrative body for the region, CONCACAF organizes competitions, offers training courses in technical and administrative aspects of the game, and helps to build football throughout the region. About C&W Communications C&W is a full service communications and entertainment provider and delivers market-leading video, broadband, telephony and mobile services to consumers in 18 countries. Through its business division, C&W provides data center hosting, domestic and international managed network services, and customized IT service solutions, utilizing cloud technology to serve business and government customers. C&W also operates a state-of-the-art submarine fiber network -- the most extensive in the region. Learn more at www.cwc.com , or follow C&W on LinkedIn , Facebook or Twitter . About Liberty Global Liberty Global is the world's largest international TV and broadband company, with operations in more than 30 countries across Europe, Latin America and the Caribbean. We invest in the infrastructure that empowers our customers to make the most of the digital revolution. Our scale and commitment to innovation enable us to develop market-leading products delivered through next generation networks that connect our 25 million customers who subscribe to over 50 million television, broadband internet and telephony services. We also serve over 10 million mobile subscribers and offer WiFi service across 5 million access points. Liberty Global's businesses are comprised of two stocks: the Liberty Global Group ( NASDAQ : LBTYA ) ( LBTYB ) and ( NASDAQ : LBTYK ) for our European operations, and the LiLAC Group ( NASDAQ : LILA ) and ( NASDAQ : LILAK ) ( OTC PINK : LILAB ), which consists of our operations in Latin America and the Caribbean. The Liberty Global Group operates in 11 European countries under the consumer brands Virgin Media, Unitymedia, Telenet and UPC. The Liberty Global Group also owns 50% of VodafoneZiggo, a Dutch joint venture, which has 4 million customers, 10 million fixed-line subscribers and 5 million mobile subscribers. The LiLAC Group operates in over 20 countries in Latin America and the Caribbean under the consumer brands VTR, Flow, Liberty, Más Móvil and BTC. In addition, the LiLAC Group operates a sub-sea fiber network throughout the region in over 30 markets. For more information, please visit www.libertyglobal.com . || $BITCF's COINQX is the First Cryptocurrency Exchange to Offer Speculation in 6 Possible Outcomes of the Bitcoin Hard Fork: VANCOUVER, BC / ACCESSWIRE / April 21, 2017 /CoinQx Exchange LIMITED, a wholly owned subsidiary of FIRST BITCOIN CAPITAL CORP (OTC PINK: BITCF or "Company") and the world's dominate issuer of cryptographic, indicative tokens is pleased to announce the launching of 5 additional altcoins that allow speculation on the potential outcomes of the moves to hard fork from the Bitcoin Core.
Other exchanges are now preparing for the highly anticipated hard fork of Bitcoin into two coins, with the original to remain named as Bitcoin (symbol BTC) and the forked coin as an altcoin to be named Bitcoin Unlimited, symbol BTU based on utilizing "Segregated Witness" (SegWit). Unlike those competing exchanges, COINQX is anticipating 6 possible outcomes, e.g. Bitcoin Unlimited, BCOIN, Bitcoin Plasma, Bitcoin Purse, Bitcoin Classic and Bitcoin XT.
Many Bitcoin traders are anxious to begin trading in the outcome of the hard fork. As a means to capitalize on pent up anticipation, and allow a mechanism to predict the future values of these potentialities, CONQX freshly minted on the Bitcoin Blockchain not only 9,000,000 tokens known as "Bitcoin Unlimited Futures" symbols XBU and XB, but also 5 newer issues. When/if any of these 6 potential outcomes convert into actualities, they will not be convertible or equal to BTC or the hard forked altcoin(s), however, once any of these outcomes and the "futures" coins created by COINQX are trading on COINQX they will be exchangeable by willing participants based on customers' matching bids and asks.
The five additional "futures" have been launched on the Bitcoin Blockchain using the same Omni Layer Protocol as XBU and have been named:
BCOIN FUTURES (BCN)
BITCOIN PLASMA FUTURES (BPL)
BITCOIN PURSE FUTURES (BPU)
BITCOIN CLASSIC FUTURES (XBC)
and BITCOIN XT FUTURES (BXT).
None of these "futures" tokens are backed by BTC nor are they securities, derivatives or futures contracts, yet, they are rather mere fiat cryptocurrencies designed to predict the future from their present popularity (and/or lack thereof).
In order to predict the outcome of the recent American elections, COINQX gave speculators several options including President Clinton (HILL) and President Trump (PRES). The markets in these coins accurately predicted that Clinton would lose the election as that altcoin descended towards one Satoshi while PRES held stronger as the November 8, 2016 electoral voting approached. The day the election was decided, HILL lost the most support and hit 1 Satoshi while PRES rose in BTC value. In addition to serving speculators and observers as indicators of future events, these altcoins also were designed to become the crypto equivalent of memorabilia with the intention that they would achieve a long lasting secondary life in the cryptocurrency markets. They continue to trade to this day with $PRES trading on 4 exchanges.
After the hard fork is complete, XBU and these new additional 5 futures-indicator-altcoin-competitors should also continue to trade -with the intention for those to survive as additional options to Bitcoin and the hard fork outcome as well as serving as independent altcoins and crypto collectors' memorabilia.
While these newly issued altcoins are not directly related to the original Bitcoin or its potential hard fork(s), it is indirectly related by the fact that they were all issued on the Bitcoin Blockchain similar to the top 10 cryptocurrency, MaidSafeCoin. As a consequence, these 5 "futures" are already exchangeable on the OMNIDEX against other similarly generated tokens and currencies such as$OMNI, $USDT, $PRES, $TESLA, $GARY, $BURN, $HILL,$MAID, $ALT, $XBU, $BOND viahttp://omnichest.info/mdexmarket.aspx?market=1and will soon be tradable against additional currencies atwww.coinqx.com
First Bitcoin Capital also plans to allow its clients to offer actual Bitcoin Unlimited (Futures) under symbol BTU and Bitcoin Core (Futures) under symbol BCC in competition with the Bitfinex and HitBTC exchanges through a process that will freeze in cold storage our participating clients' BTC against future delivery of BTU. Once actual BTU is delivered to BTC owners, the BTC will be unfrozen in order to make actual delivery to the futures buyers. Another way to unfreeze and have their BTC returned before the hard fork would be to buy back the same amount of BTU and BCC sold and then take their BTU and BCC derivatives off the market. Further details of the procedure will soon be announced viacoinqx.com
The Company continues to actively offer AltCoin (ALT), its first ICO via http://www.altcoinmarketcap.com and is in the process of becoming the world's first ICO (Initial Coin Offering) underwriter for a third party cryptocurrency issuers.
Some of the background that led to COINQX releasing these indicative altcoins is quoted below from the article published recently by @AlyssaHertig
http://www.coindesk.com/big-block-bitcoin-movement-embracing-bcoin/
Over the course of bitcoin's two-year scaling debate, a few major alternatives have grown to challenge the network's most popular and longest-running software, Bitcoin Core.
Among the more notable efforts have beenBitcoin XTandBitcoin Classic, which prioritized support larger block sizes as a method to support more transactions. However, a side effect of their ambitious aims was that network users would need switch implementations to enact the changes, and not everyone has wanted to do so.
The development exposes one of the more curious aspects of the scaling debate, as alternative solutions have needed to propose both a technical change - and build their own developer team - as part of their bids to put forth differing ideas.
One of the main criticisms ofBitcoin Unlimited, one recently popular alternative that allows miners and users to flag support for the block size they want, is that the code is buggy - or, at least, not yet mature. For example, in March, attackers were able toexploit two such bugs, causing most of the network nodes running the software to temporarily shut down each time.
In this light, the emergence of an implementation called 'Bcoin' (built by bitcoin startup Purse) to the debate could be a notable development in the scaling saga.
The software project got a recent boost this week when it introduced its own take on an old scaling idea, 'extension blocks' (or 'e-blocks'), which the company painted as a way for getting around today's block-size standstill.
The idea is controversial, as evidenced by complextechnical discussionfollowing the announcement, with some developers arguing that e-blocks would be an insecure addition.
Still, e-blocks have still seen a strong showing of support, in large part due to the perceived proficiency of its team. And, notably, Bitcoin Unlimited supporters have so far had favorable things to say about the project.
Haipo Yang, Chief Executive of mining firm ViaBTC, for instance, told CoinDesk that he supports Purse's concept and the Bcoin team.
Yang said:
"I think that extension blocks will be the solution that moves forward."
'Promising' option
Overall, the argument is developing that Bcoin, an alternative Node.js implementation that launchedin September, boasts a stronger technical team than that of Bitcoin Unlimited and other so-called 'big block' teams.
Purse CTO and Bcoin developer Christopher Jeffrey, for example, has been praised for architecting the software, as well as an in-progress Lightning implementation calledPlasmathat could be layered on top.
Meanwhile, Joseph Poon, Lightning Network co-creator, helped author the specification for the Bcoin implementation'srecently introducedflagship tech.
One example of trust in the competence of the team, supporters argue, is that mining pool BTC.com has already mined one block while running the software in March - allegedly a first for a client not based on bitcoin's original code implementation.
Purse has released aspecification draftandreference implementation codethat implements extension blocks on top of Bcoin.
That's not to say that Bcoin wants to offer a replacement for Bitcoin Core, as has been suggested for other implementations. When first introduced, it was described by the company as a bitcoin alternative with cleaner code that could co-exist alongside other software versions.
Divisions remain
Despite Yang's confidence, however, not all Bitcoin Unlimited supporters are going all in on extension blocks.
Former Bitcoin Foundation board member Olivier Janssens, for example, criticized the solution for its complexities, telling CoinDesk Bcoin's idea was 'way too complicated'.
"People need to get over their fear of hard forks," he said.
Still, many are saying positive things about the solution, even if they're possibly more focused on other scaling options.
"I like extension blocks, but I think there is almost no risk from making the actual blocks bigger, too," bitcoin investor and Bitcoin.com operator Roger Ver, one of the most vocal advocates for Bitcoin Core alternatives, told CoinDesk.
Bitcoin Unlimited developer David Jerry Chan went so far as to compare the tech favourably to other available solutions.
"I see the proposal as a reasonable and better alternative than SegWit," he said.
Chan went on to say that Bitcoin Unlimited developers are still discussing the proposal, and there's no 'official opinion' from the team as yet.
As far as potential setbacks go, however, one of the criticisms of Bcoin is that it needs time to review, no matter the merits of its team. (SegWit, for example, was reviewed and tested for roughly a year before release.)
On the other hand, Purse CEO Andrew Lee has argued that the Bcoin code is already live, so it could take less time to review.
Indeed, according to the technology announcement, the next steps are to deploy it on the bitcoin test network, get further review, and wrap up the specification.
Yang agreed, concluding:
"We have already waited more than one year. We can wait three months."
About the company:
First Bitcoin Capital is engaged in developing digital currencies, proprietary Blockchain technologies, and the digital currency exchange-www.CoinQX.com. We see this step as a tremendous opportunity to create further shareholder value by leveraging management's experience in developing and managing complex Blockchain technologies, developing new types of digital assets. Being the first publicly-traded cryptocurrency and blockchain-centered company (with shares both traded in the US OTC Markets as [BITCF] and as [BIT] in crypto exchanges) we want to provide our shareholders with diversified exposure to digital cryptocurrencies and blockchain technologies. At this time the Company owns and operates more than the following digital assets.
www.CoinQX.comcryptocurrency exchange, registered with FINCEN.
www.iCoiNEWS.comreal time cryptocurrency and bitcoin news site.
www.BITminer.ccproviding mining pool management services.
www.2016coin.orgonline daily election coverage and home page for $PRES, $HILL, $GARY& $BURN -commemorative presidential election coins.
www.bitcannpay.comOpen Loop merchant services for dispensaries.
www.strain.IDcannabis strains genetic information depository on decentralized Blockchain.
List of Omni protocol coins issued on the Bitcoin Blockchain owned by the Company:http://omnichest.info/lookupadd.aspx?address=1FwADyEvdvaLNxjN1v3q6tNJCgHEBuABrS
Forward-Looking Statements
Certain statements contained in this press release may constitute "forward-looking statements." Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors as may be disclosed in company's filings. In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic conditions, and governmental and public policy changes. The forward-looking statements included in this press release represent the Company's views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of the press release. Such forward-looking statements are risks that are detailed in the Company's filings, which are on file atwww.OTCMarkets.com.
Contact us via:info@bitcoincapitalcorp.comor visithttp://www.bitcoincapitalcorp.com
SOURCE:First Bitcoin Capital Corp. || $BITCF's COINQX is the First Cryptocurrency Exchange to Offer Speculation in 6 Possible Outcomes of the Bitcoin Hard Fork: VANCOUVER, BC / ACCESSWIRE / April 21, 2017 / CoinQx Exchange LIMITED, a wholly owned subsidiary of FIRST BITCOIN CAPITAL CORP (OTC PINK: BITCF or "Company") and the world's dominate issuer of cryptographic, indicative tokens is pleased to announce the launching of 5 additional altcoins that allow speculation on the potential outcomes of the moves to hard fork from the Bitcoin Core. Other exchanges are now preparing for the highly anticipated hard fork of Bitcoin into two coins, with the original to remain named as Bitcoin (symbol BTC) and the forked coin as an altcoin to be named Bitcoin Unlimited, symbol BTU based on utilizing "Segregated Witness" (SegWit). Unlike those competing exchanges, COINQX is anticipating 6 possible outcomes, e.g. Bitcoin Unlimited, BCOIN, Bitcoin Plasma, Bitcoin Purse, Bitcoin Classic and Bitcoin XT. Many Bitcoin traders are anxious to begin trading in the outcome of the hard fork. As a means to capitalize on pent up anticipation, and allow a mechanism to predict the future values of these potentialities, CONQX freshly minted on the Bitcoin Blockchain not only 9,000,000 tokens known as "Bitcoin Unlimited Futures" symbols XBU and XB, but also 5 newer issues. When/if any of these 6 potential outcomes convert into actualities, they will not be convertible or equal to BTC or the hard forked altcoin(s), however, once any of these outcomes and the "futures" coins created by COINQX are trading on COINQX they will be exchangeable by willing participants based on customers' matching bids and asks. The five additional "futures" have been launched on the Bitcoin Blockchain using the same Omni Layer Protocol as XBU and have been named: BCOIN FUTURES (BCN) BITCOIN PLASMA FUTURES (BPL) BITCOIN PURSE FUTURES (BPU) BITCOIN CLASSIC FUTURES (XBC) and BITCOIN XT FUTURES (BXT) . None of these "futures" tokens are backed by BTC nor are they securities, derivatives or futures contracts, yet, they are rather mere fiat cryptocurrencies designed to predict the future from their present popularity (and/or lack thereof). Story continues In order to predict the outcome of the recent American elections, COINQX gave speculators several options including President Clinton (HILL) and President Trump (PRES). The markets in these coins accurately predicted that Clinton would lose the election as that altcoin descended towards one Satoshi while PRES held stronger as the November 8, 2016 electoral voting approached. The day the election was decided, HILL lost the most support and hit 1 Satoshi while PRES rose in BTC value. In addition to serving speculators and observers as indicators of future events, these altcoins also were designed to become the crypto equivalent of memorabilia with the intention that they would achieve a long lasting secondary life in the cryptocurrency markets. They continue to trade to this day with $PRES trading on 4 exchanges. After the hard fork is complete, XBU and these new additional 5 futures-indicator-altcoin-competitors should also continue to trade -with the intention for those to survive as additional options to Bitcoin and the hard fork outcome as well as serving as independent altcoins and crypto collectors' memorabilia. While these newly issued altcoins are not directly related to the original Bitcoin or its potential hard fork(s), it is indirectly related by the fact that they were all issued on the Bitcoin Blockchain similar to the top 10 cryptocurrency, MaidSafeCoin. As a consequence, these 5 "futures" are already exchangeable on the OMNIDEX against other similarly generated tokens and currencies such as $OMNI, $USDT, $PRES, $TESLA, $GARY, $BURN, $HILL , $MAID, $ALT, $XBU, $BOND via http://omnichest.info/mdexmarket.aspx?market=1 and will soon be tradable against additional currencies at www.coinqx.com First Bitcoin Capital also plans to allow its clients to offer actual Bitcoin Unlimited (Futures) under symbol BTU and Bitcoin Core (Futures) under symbol BCC in competition with the Bitfinex and HitBTC exchanges through a process that will freeze in cold storage our participating clients' BTC against future delivery of BTU. Once actual BTU is delivered to BTC owners, the BTC will be unfrozen in order to make actual delivery to the futures buyers. Another way to unfreeze and have their BTC returned before the hard fork would be to buy back the same amount of BTU and BCC sold and then take their BTU and BCC derivatives off the market. Further details of the procedure will soon be announced via coinqx.com The Company continues to actively offer AltCoin (ALT), its first ICO via http://www.altcoinmarketcap.com and is in the process of becoming the world's first ICO (Initial Coin Offering) underwriter for a third party cryptocurrency issuers. Some of the background that led to COINQX releasing these indicative altcoins is quoted below from the article published recently by @AlyssaHertig http://www.coindesk.com/big-block-bitcoin-movement-embracing-bcoin/ Over the course of bitcoin's two-year scaling debate, a few major alternatives have grown to challenge the network's most popular and longest-running software, Bitcoin Core. Among the more notable efforts have been Bitcoin XT and Bitcoin Classic , which prioritized support larger block sizes as a method to support more transactions. However, a side effect of their ambitious aims was that network users would need switch implementations to enact the changes, and not everyone has wanted to do so. The development exposes one of the more curious aspects of the scaling debate, as alternative solutions have needed to propose both a technical change - and build their own developer team - as part of their bids to put forth differing ideas. One of the main criticisms of Bitcoin Unlimited , one recently popular alternative that allows miners and users to flag support for the block size they want, is that the code is buggy - or, at least, not yet mature. For example, in March, attackers were able to exploit two such bugs , causing most of the network nodes running the software to temporarily shut down each time. In this light, the emergence of an implementation called 'Bcoin' (built by bitcoin startup Purse) to the debate could be a notable development in the scaling saga. The software project got a recent boost this week when it introduced its own take on an old scaling idea, ' extension blocks ' (or 'e-blocks'), which the company painted as a way for getting around today's block-size standstill. The idea is controversial, as evidenced by complex technical discussion following the announcement, with some developers arguing that e-blocks would be an insecure addition. Still, e-blocks have still seen a strong showing of support, in large part due to the perceived proficiency of its team. And, notably, Bitcoin Unlimited supporters have so far had favorable things to say about the project. Haipo Yang, Chief Executive of mining firm ViaBTC, for instance, told CoinDesk that he supports Purse's concept and the Bcoin team. Yang said: "I think that extension blocks will be the solution that moves forward." 'Promising' option Overall, the argument is developing that Bcoin, an alternative Node.js implementation that launched in September , boasts a stronger technical team than that of Bitcoin Unlimited and other so-called 'big block' teams. Purse CTO and Bcoin developer Christopher Jeffrey, for example, has been praised for architecting the software, as well as an in-progress Lightning implementation called Plasma that could be layered on top. Meanwhile, Joseph Poon, Lightning Network co-creator, helped author the specification for the Bcoin implementation's recently introduced flagship tech. One example of trust in the competence of the team, supporters argue, is that mining pool BTC.com has already mined one block while running the software in March - allegedly a first for a client not based on bitcoin's original code implementation. Purse has released a specification draft and reference implementation code that implements extension blocks on top of Bcoin. That's not to say that Bcoin wants to offer a replacement for Bitcoin Core, as has been suggested for other implementations. When first introduced, it was described by the company as a bitcoin alternative with cleaner code that could co-exist alongside other software versions. Divisions remain Despite Yang's confidence, however, not all Bitcoin Unlimited supporters are going all in on extension blocks. Former Bitcoin Foundation board member Olivier Janssens, for example, criticized the solution for its complexities, telling CoinDesk Bcoin's idea was 'way too complicated'. "People need to get over their fear of hard forks," he said. Still, many are saying positive things about the solution, even if they're possibly more focused on other scaling options. "I like extension blocks, but I think there is almost no risk from making the actual blocks bigger, too," bitcoin investor and Bitcoin.com operator Roger Ver, one of the most vocal advocates for Bitcoin Core alternatives, told CoinDesk. Bitcoin Unlimited developer David Jerry Chan went so far as to compare the tech favourably to other available solutions. "I see the proposal as a reasonable and better alternative than SegWit," he said. Chan went on to say that Bitcoin Unlimited developers are still discussing the proposal, and there's no 'official opinion' from the team as yet. As far as potential setbacks go, however, one of the criticisms of Bcoin is that it needs time to review, no matter the merits of its team. (SegWit, for example, was reviewed and tested for roughly a year before release.) On the other hand, Purse CEO Andrew Lee has argued that the Bcoin code is already live, so it could take less time to review. Indeed, according to the technology announcement, the next steps are to deploy it on the bitcoin test network, get further review, and wrap up the specification. Yang agreed, concluding: "We have already waited more than one year. We can wait three months." About the company: First Bitcoin Capital is engaged in developing digital currencies, proprietary Blockchain technologies, and the digital currency exchange- www.CoinQX.com . We see this step as a tremendous opportunity to create further shareholder value by leveraging management's experience in developing and managing complex Blockchain technologies, developing new types of digital assets. Being the first publicly-traded cryptocurrency and blockchain-centered company (with shares both traded in the US OTC Markets as [BITCF] and as [BIT] in crypto exchanges) we want to provide our shareholders with diversified exposure to digital cryptocurrencies and blockchain technologies. At this time the Company owns and operates more than the following digital assets. www.CoinQX.com cryptocurrency exchange, registered with FINCEN. www.iCoiNEWS.com real time cryptocurrency and bitcoin news site. www.BITminer.cc providing mining pool management services. www.2016coin.org online daily election coverage and home page for $PRES, $HILL, $GARY& $BURN -commemorative presidential election coins. www.bitcannpay.com Open Loop merchant services for dispensaries. www.strain.ID cannabis strains genetic information depository on decentralized Blockchain. List of Omni protocol coins issued on the Bitcoin Blockchain owned by the Company: http://omnichest.info/lookupadd.aspx?address=1FwADyEvdvaLNxjN1v3q6tNJCgHEBuABrS Forward-Looking Statements Certain statements contained in this press release may constitute "forward-looking statements." Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors as may be disclosed in company's filings. In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic conditions, and governmental and public policy changes. The forward-looking statements included in this press release represent the Company's views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of the press release. Such forward-looking statements are risks that are detailed in the Company's filings, which are on file at www.OTCMarkets.com . Contact us via: info@bitcoincapitalcorp.com or visit http://www.bitcoincapitalcorp.com SOURCE: First Bitcoin Capital Corp. || $BITCF's COINQX is the First Cryptocurrency Exchange to Offer Speculation in 6 Possible Outcomes of the Bitcoin Hard Fork: VANCOUVER, BC / ACCESSWIRE / April 21, 2017 /CoinQx Exchange LIMITED, a wholly owned subsidiary of FIRST BITCOIN CAPITAL CORP (OTC PINK: BITCF or "Company") and the world's dominate issuer of cryptographic, indicative tokens is pleased to announce the launching of 5 additional altcoins that allow speculation on the potential outcomes of the moves to hard fork from the Bitcoin Core.
Other exchanges are now preparing for the highly anticipated hard fork of Bitcoin into two coins, with the original to remain named as Bitcoin (symbol BTC) and the forked coin as an altcoin to be named Bitcoin Unlimited, symbol BTU based on utilizing "Segregated Witness" (SegWit). Unlike those competing exchanges, COINQX is anticipating 6 possible outcomes, e.g. Bitcoin Unlimited, BCOIN, Bitcoin Plasma, Bitcoin Purse, Bitcoin Classic and Bitcoin XT.
Many Bitcoin traders are anxious to begin trading in the outcome of the hard fork. As a means to capitalize on pent up anticipation, and allow a mechanism to predict the future values of these potentialities, CONQX freshly minted on the Bitcoin Blockchain not only 9,000,000 tokens known as "Bitcoin Unlimited Futures" symbols XBU and XB, but also 5 newer issues. When/if any of these 6 potential outcomes convert into actualities, they will not be convertible or equal to BTC or the hard forked altcoin(s), however, once any of these outcomes and the "futures" coins created by COINQX are trading on COINQX they will be exchangeable by willing participants based on customers' matching bids and asks.
The five additional "futures" have been launched on the Bitcoin Blockchain using the same Omni Layer Protocol as XBU and have been named:
BCOIN FUTURES (BCN)
BITCOIN PLASMA FUTURES (BPL)
BITCOIN PURSE FUTURES (BPU)
BITCOIN CLASSIC FUTURES (XBC)
and BITCOIN XT FUTURES (BXT).
None of these "futures" tokens are backed by BTC nor are they securities, derivatives or futures contracts, yet, they are rather mere fiat cryptocurrencies designed to predict the future from their present popularity (and/or lack thereof).
In order to predict the outcome of the recent American elections, COINQX gave speculators several options including President Clinton (HILL) and President Trump (PRES). The markets in these coins accurately predicted that Clinton would lose the election as that altcoin descended towards one Satoshi while PRES held stronger as the November 8, 2016 electoral voting approached. The day the election was decided, HILL lost the most support and hit 1 Satoshi while PRES rose in BTC value. In addition to serving speculators and observers as indicators of future events, these altcoins also were designed to become the crypto equivalent of memorabilia with the intention that they would achieve a long lasting secondary life in the cryptocurrency markets. They continue to trade to this day with $PRES trading on 4 exchanges.
After the hard fork is complete, XBU and these new additional 5 futures-indicator-altcoin-competitors should also continue to trade -with the intention for those to survive as additional options to Bitcoin and the hard fork outcome as well as serving as independent altcoins and crypto collectors' memorabilia.
While these newly issued altcoins are not directly related to the original Bitcoin or its potential hard fork(s), it is indirectly related by the fact that they were all issued on the Bitcoin Blockchain similar to the top 10 cryptocurrency, MaidSafeCoin. As a consequence, these 5 "futures" are already exchangeable on the OMNIDEX against other similarly generated tokens and currencies such as$OMNI, $USDT, $PRES, $TESLA, $GARY, $BURN, $HILL,$MAID, $ALT, $XBU, $BOND viahttp://omnichest.info/mdexmarket.aspx?market=1and will soon be tradable against additional currencies atwww.coinqx.com
First Bitcoin Capital also plans to allow its clients to offer actual Bitcoin Unlimited (Futures) under symbol BTU and Bitcoin Core (Futures) under symbol BCC in competition with the Bitfinex and HitBTC exchanges through a process that will freeze in cold storage our participating clients' BTC against future delivery of BTU. Once actual BTU is delivered to BTC owners, the BTC will be unfrozen in order to make actual delivery to the futures buyers. Another way to unfreeze and have their BTC returned before the hard fork would be to buy back the same amount of BTU and BCC sold and then take their BTU and BCC derivatives off the market. Further details of the procedure will soon be announced viacoinqx.com
The Company continues to actively offer AltCoin (ALT), its first ICO via http://www.altcoinmarketcap.com and is in the process of becoming the world's first ICO (Initial Coin Offering) underwriter for a third party cryptocurrency issuers.
Some of the background that led to COINQX releasing these indicative altcoins is quoted below from the article published recently by @AlyssaHertig
http://www.coindesk.com/big-block-bitcoin-movement-embracing-bcoin/
Over the course of bitcoin's two-year scaling debate, a few major alternatives have grown to challenge the network's most popular and longest-running software, Bitcoin Core.
Among the more notable efforts have beenBitcoin XTandBitcoin Classic, which prioritized support larger block sizes as a method to support more transactions. However, a side effect of their ambitious aims was that network users would need switch implementations to enact the changes, and not everyone has wanted to do so.
The development exposes one of the more curious aspects of the scaling debate, as alternative solutions have needed to propose both a technical change - and build their own developer team - as part of their bids to put forth differing ideas.
One of the main criticisms ofBitcoin Unlimited, one recently popular alternative that allows miners and users to flag support for the block size they want, is that the code is buggy - or, at least, not yet mature. For example, in March, attackers were able toexploit two such bugs, causing most of the network nodes running the software to temporarily shut down each time.
In this light, the emergence of an implementation called 'Bcoin' (built by bitcoin startup Purse) to the debate could be a notable development in the scaling saga.
The software project got a recent boost this week when it introduced its own take on an old scaling idea, 'extension blocks' (or 'e-blocks'), which the company painted as a way for getting around today's block-size standstill.
The idea is controversial, as evidenced by complextechnical discussionfollowing the announcement, with some developers arguing that e-blocks would be an insecure addition.
Still, e-blocks have still seen a strong showing of support, in large part due to the perceived proficiency of its team. And, notably, Bitcoin Unlimited supporters have so far had favorable things to say about the project.
Haipo Yang, Chief Executive of mining firm ViaBTC, for instance, told CoinDesk that he supports Purse's concept and the Bcoin team.
Yang said:
"I think that extension blocks will be the solution that moves forward."
'Promising' option
Overall, the argument is developing that Bcoin, an alternative Node.js implementation that launchedin September, boasts a stronger technical team than that of Bitcoin Unlimited and other so-called 'big block' teams.
Purse CTO and Bcoin developer Christopher Jeffrey, for example, has been praised for architecting the software, as well as an in-progress Lightning implementation calledPlasmathat could be layered on top.
Meanwhile, Joseph Poon, Lightning Network co-creator, helped author the specification for the Bcoin implementation'srecently introducedflagship tech.
One example of trust in the competence of the team, supporters argue, is that mining pool BTC.com has already mined one block while running the software in March - allegedly a first for a client not based on bitcoin's original code implementation.
Purse has released aspecification draftandreference implementation codethat implements extension blocks on top of Bcoin.
That's not to say that Bcoin wants to offer a replacement for Bitcoin Core, as has been suggested for other implementations. When first introduced, it was described by the company as a bitcoin alternative with cleaner code that could co-exist alongside other software versions.
Divisions remain
Despite Yang's confidence, however, not all Bitcoin Unlimited supporters are going all in on extension blocks.
Former Bitcoin Foundation board member Olivier Janssens, for example, criticized the solution for its complexities, telling CoinDesk Bcoin's idea was 'way too complicated'.
"People need to get over their fear of hard forks," he said.
Still, many are saying positive things about the solution, even if they're possibly more focused on other scaling options.
"I like extension blocks, but I think there is almost no risk from making the actual blocks bigger, too," bitcoin investor and Bitcoin.com operator Roger Ver, one of the most vocal advocates for Bitcoin Core alternatives, told CoinDesk.
Bitcoin Unlimited developer David Jerry Chan went so far as to compare the tech favourably to other available solutions.
"I see the proposal as a reasonable and better alternative than SegWit," he said.
Chan went on to say that Bitcoin Unlimited developers are still discussing the proposal, and there's no 'official opinion' from the team as yet.
As far as potential setbacks go, however, one of the criticisms of Bcoin is that it needs time to review, no matter the merits of its team. (SegWit, for example, was reviewed and tested for roughly a year before release.)
On the other hand, Purse CEO Andrew Lee has argued that the Bcoin code is already live, so it could take less time to review.
Indeed, according to the technology announcement, the next steps are to deploy it on the bitcoin test network, get further review, and wrap up the specification.
Yang agreed, concluding:
"We have already waited more than one year. We can wait three months."
About the company:
First Bitcoin Capital is engaged in developing digital currencies, proprietary Blockchain technologies, and the digital currency exchange-www.CoinQX.com. We see this step as a tremendous opportunity to create further shareholder value by leveraging management's experience in developing and managing complex Blockchain technologies, developing new types of digital assets. Being the first publicly-traded cryptocurrency and blockchain-centered company (with shares both traded in the US OTC Markets as [BITCF] and as [BIT] in crypto exchanges) we want to provide our shareholders with diversified exposure to digital cryptocurrencies and blockchain technologies. At this time the Company owns and operates more than the following digital assets.
www.CoinQX.comcryptocurrency exchange, registered with FINCEN.
www.iCoiNEWS.comreal time cryptocurrency and bitcoin news site.
www.BITminer.ccproviding mining pool management services.
www.2016coin.orgonline daily election coverage and home page for $PRES, $HILL, $GARY& $BURN -commemorative presidential election coins.
www.bitcannpay.comOpen Loop merchant services for dispensaries.
www.strain.IDcannabis strains genetic information depository on decentralized Blockchain.
List of Omni protocol coins issued on the Bitcoin Blockchain owned by the Company:http://omnichest.info/lookupadd.aspx?address=1FwADyEvdvaLNxjN1v3q6tNJCgHEBuABrS
Forward-Looking Statements
Certain statements contained in this press release may constitute "forward-looking statements." Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors as may be disclosed in company's filings. In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic conditions, and governmental and public policy changes. The forward-looking statements included in this press release represent the Company's views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of the press release. Such forward-looking statements are risks that are detailed in the Company's filings, which are on file atwww.OTCMarkets.com.
Contact us via:info@bitcoincapitalcorp.comor visithttp://www.bitcoincapitalcorp.com
SOURCE:First Bitcoin Capital Corp. || Bitcoin is closing in on its all-time high: Bitcoin is trading at its best level in a month. The cryptocurrency is up 2.8% at $1241.35 a coin and is within striking distance of its all-time closing high of $1277.65, which was set on March 6. Four days later, bitcoin put in a record high of $1327.19 before crashing more than 25% after the US Securities and Exchange Commission rejected the Winklevoss twins' plans for a bitcoin ETF. The SEC rejected the plans for another bitcoin ETF just a few weeks after that. However, bitcoin has rallied off its March 24 low of $959.45 as it has gained acceptance elsewhere. First, Japan announced it was accepting the crypticurrency as a legal payment method , then, Russia said it would consider recognizing bitcoin and other cryptocurrencies in 2018. Bitcoin has been the top-performing currency every year since 2010, aside from 2014. It's up 30% so far in 2017. Bitcoin (Markets Insider) NOW WATCH: Here's footage of the US military's new helicopter that'll cost as much as an F-35 More From Business Insider There's $29.4 billion in cryptocurrencies here's which ones people are using the most An under-the-radar startup is behind what might be the best watch you can buy for under $250 Iran's 'stealth' fighter is a total joke || Bitcoin is closing in on its all-time high: Bitcoinis trading at its best level in a month. The cryptocurrency is up 2.8% at $1241.35 a coin and is within striking distance of its all-time closing high of $1277.65, which was set on March 6.
Four days later, bitcoin put in a record high of $1327.19 before crashing more than 25% after the US Securities and Exchange Commission rejected the Winklevoss twins' plans for a bitcoin ETF. The SECrejected the plans for another bitcoin ETFjust a few weeks after that.
However, bitcoin has rallied off its March 24 low of $959.45 as it has gained acceptance elsewhere. First, Japan announced it was accepting the crypticurrency as alegal payment method, then, Russia said it wouldconsider recognizing bitcoin and other cryptocurrenciesin 2018.
Bitcoin has been the top-performing currency every year since 2010, aside from 2014. It's up 30% so far in 2017.
(Markets Insider)
NOW WATCH:Here's footage of the US military's new helicopter that'll cost as much as an F-35
More From Business Insider
• There's $29.4 billion in cryptocurrencies — here's which ones people are using the most
• An under-the-radar startup is behind what might be the best watch you can buy for under $250
• Iran's 'stealth' fighter is a total joke || Bitcoin is closing in on its all-time high: Bitcoinis trading at its best level in a month. The cryptocurrency is up 2.8% at $1241.35 a coin and is within striking distance of its all-time closing high of $1277.65, which was set on March 6.
Four days later, bitcoin put in a record high of $1327.19 before crashing more than 25% after the US Securities and Exchange Commission rejected the Winklevoss twins' plans for a bitcoin ETF. The SECrejected the plans for another bitcoin ETFjust a few weeks after that.
However, bitcoin has rallied off its March 24 low of $959.45 as it has gained acceptance elsewhere. First, Japan announced it was accepting the crypticurrency as alegal payment method, then, Russia said it wouldconsider recognizing bitcoin and other cryptocurrenciesin 2018.
Bitcoin has been the top-performing currency every year since 2010, aside from 2014. It's up 30% so far in 2017.
(Markets Insider)
NOW WATCH:Here's footage of the US military's new helicopter that'll cost as much as an F-35
More From Business Insider
• There's $29.4 billion in cryptocurrencies — here's which ones people are using the most
• An under-the-radar startup is behind what might be the best watch you can buy for under $250
• Iran's 'stealth' fighter is a total joke || There's $29.4 billion in cryptocurrencies here's which ones people are using the most: Bitcoin became the first decentralized cryptocurrency back in 2009, and ever since interest in digital currencies has exploded. According to CoinMarketCap.com, there are 796 cryptocurrencies currently trading around the world , with a combined market cap of $29,374,919,176. Of those, only 10 have a market cap of $100 million or more. Check them out: Cryptocurrency market cap chart (Business Insider/Mike Nudelman, data from CoinMarketCap.com) NOW WATCH: People are outraged by this shocking video showing a passenger forcibly dragged off a United Airlines plane More From Business Insider An under-the-radar startup is behind what might be the best watch you can buy for under $250 We just got a huge sign that the US intelligence community believes the Trump dossier is legitimate Report says North Korea stole bitcoin from South Korea for years || There's $29.4 billion in cryptocurrencies — here's which ones people are using the most: Bitcoin became the firstdecentralized cryptocurrency back in 2009, and ever since interest in digital currencies has exploded. According to CoinMarketCap.com, there are796 cryptocurrencies currently trading around the world, with a combined market cap of $29,374,919,176. Of those, only 10 have a market cap of $100 million or more. Check them out:
(Business Insider/Mike Nudelman, data from CoinMarketCap.com)
NOW WATCH:People are outraged by this shocking video showing a passenger forcibly dragged off a United Airlines plane
More From Business Insider
• An under-the-radar startup is behind what might be the best watch you can buy for under $250
• We just got a huge sign that the US intelligence community believes the Trump dossier is legitimate
• Report says North Korea stole bitcoin from South Korea for years || The hotel industry's secret plan to bring down AirBnB: Its always been pretty obvious why the hotel industry might not be big fans of AirBnB. After all, AirBnB lets us find lodging thats homier, less cookie-cutter, and far less expensive than renting hotel rooms. But this week, The New York Times reported on just how much AirBnB bothers the hotel industry: Its trade group, the American Hotel and Lodging Association (AHLA), which has a multimillion-dollar budget, has actually developed a secret program to cause trouble for AirBnB. So far, the plan has succeeded in virtually shutting down AirBnB apartment rentals in New York City. (The AHLA helped persuade New York lawmakers to impose a law that issues fines as high as $7,500 for people who repeatedly advertise their apartments on AirBnB for less than 30 days if theyre not also staying there.) Los Angeles, San Francisco, Boston, Miami, and Washington, D.C. are the trade groups next targets. Brian Chesky, CEO and Co-founder of Airbnb, speaks to the Economic Club of New York at a luncheon at the New York Stock Exchange (NYSE) in New York, U.S. March 13, 2017. REUTERS/Mike Segar Clearly, the hotel lobbyists are concerned about losing business to AirBnB and similar services. But theyre also unhappy with the uneven playing field. Airbnb hosts often do not comply with rules imposed on hotels, like anti-discrimination legislation, local tax collection laws, and safety and fire inspection standards, the Times reports. The hotel industrys other complaints: Lots of people are abusing the AirBnB model by buying many apartments and then renting them, essentially operating as a big hotel business. City governments are also concerned that these AirBnB businesspeople are, in the process, snapping up the supply of housing that city residents desperately need. Needless to say, AirBnB suspects that the hotel industry has other motivations. The hotel cartel is intent on short-sheeting the middle class so they can keep price-gouging consumers, AirBnB spokesman Nick Papas told the Times. Only one thing about AirBnBs road ahead is sure: the hotel industry intends to make it as rough a ride as possible. More from David Pogue: Inside the Worlds Greatest Scavenger Hunt, Part 1 Story continues The David Pogue Review: Windows 10 Creators Update Now I get it: Bitcoin David Pogue tested 47 pill-reminder apps to find the best one David Pogues search for the worlds best air-travel app The little-known iPhone feature that lets blind people see with their fingers David Pogue, tech columnist for Yahoo Finance, welcomes non-toxic comments in the Comments below. On the web, hes davidpogue.com . On Twitter, hes @pogue . On email, hes poguester@yahoo.com. You can read all his articles here , or you can sign up to get his columns by email . || The hotel industry's secret plan to bring down AirBnB: It’s always been pretty obvious why the hotel industry might not be big fans of AirBnB. After all, AirBnB lets us find lodging that’s homier, less cookie-cutter, and far less expensive than renting hotel rooms.
But this week,The New York Times reported onjust how much AirBnB bothers the hotel industry: Its trade group, the American Hotel and Lodging Association (AHLA), which has a multimillion-dollar budget, has actually developed a secret program to cause trouble for AirBnB.
So far, the plan has succeeded in virtually shutting down AirBnB apartment rentals in New York City. (The AHLA helped persuade New York lawmakers to impose a law that issuesfines as high as $7,500for people who repeatedly advertise their apartments on AirBnB for less than 30 days if they’re not also staying there.) Los Angeles, San Francisco, Boston, Miami, and Washington, D.C. are the trade group’s next targets.
Clearly, the hotel lobbyists are concerned about losing business to AirBnB and similar services. But they’re also unhappy with the uneven playing field. “Airbnb hosts often do not comply with rules imposed on hotels, like anti-discrimination legislation, local tax collection laws, and safety and fire inspection standards,” the Times reports.
The hotel industry’s other complaints: Lots of people are abusing the AirBnB model by buying many apartments and then renting them, essentially operating as a big hotel business. City governments are also concerned that these AirBnB businesspeople are, in the process, snapping up the supply of housing that city residents desperately need.
Needless to say, AirBnB suspects that the hotel industry has other motivations. “The hotel cartel is intent on short-sheeting the middle class so they can keep price-gouging consumers,” AirBnB spokesman Nick Papas told the Times.
Only one thing about AirBnB’s road ahead is sure: the hotel industry intends to make it as rough a ride as possible.
More from David Pogue:
Inside the World’s Greatest Scavenger Hunt, Part 1
The David Pogue Review: Windows 10 Creators Update
Now I get it: Bitcoin
David Pogue tested 47 pill-reminder apps to find the best one
David Pogue’s search for the world’s best air-travel app
The little-known iPhone feature that lets blind people see with their fingers
David Pogue, tech columnist for Yahoo Finance, welcomes non-toxic comments in the Comments below. On the web, he’sdavidpogue.com. On Twitter, he’s@pogue. On email, he’s poguester@yahoo.com. You canread all his articles here, or you can sign up toget his columns by email.
[Social Media Buzz]
$1272.80 at 12:45 UTC [24h Range: $1241.68 - $1274.00 Volume: 3573 BTC] || $1272.04 at 21:45 UTC [24h Range: $1251.07 - $1280.00 Volume: 5014 BTC] || 1 KOBO = 0.00000877 BTC
= 0.0111 USD
= 3.4854 NGN
= 0.1450 ZAR
= 1.1427 KES
#Kobocoin 2017-04-26 00:00 || The current price of a #bitcoin is $1255.00. Have a nice day! || #Bitcoin 1.27%
Ultima: R$ 4333.00 Alta: R$ 4335.00 Baixa: R$ 4150.00
Fonte: Foxbit || $1268.86 at 13:30 UTC [24h Range: $1242.82 - $1274.00 Volume: 3841 BTC] || Disc...
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1281.08, 1317.73, 1316.48, 1321.79, 1347.89, 1421.60, 1452.82, 1490.09, 1537.67, 1555.45
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Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 276.26, 274.35, 289.61, 291.76, 296.38, 294.35, 285.34, 281.89, 286.39, 290.59, 285.51, 256.30, 260.93, 261.75, 260.02, 267.96, 266.74, 245.60, 246.20, 248.53, 247.03, 252.80, 242.71, 247.53, 244.22, 247.27, 253.01, 254.32, 253.70, 260.60, 255.49, 253.18, 245.02, 243.68, 236.07, 236.55, 236.15, 224.59, 219.16, 223.83, 228.57, 222.88, 223.36, 222.60, 224.63, 235.27, 234.18, 236.46, 231.27, 226.39, 219.43, 229.29, 225.85, 225.81, 236.15, 232.08, 234.93, 240.36, 239.02, 236.12, 229.78, 237.33, 243.86, 241.83, 240.30, 242.16, 241.11, 236.38, 236.93, 237.60, 236.15, 236.80, 233.13, 231.95, 234.02, 235.34, 240.35, 238.87, 240.95, 237.11, 237.12, 237.28, 237.41, 237.10, 233.35, 230.19, 222.93, 225.80, 225.87, 224.32.
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[Bitcoin Technical Analysis for 2015-06-04]
Volume: 14728100, RSI (14-day): 36.22, 50-day EMA: 235.94, 200-day EMA: 257.36
[Wider Market Context]
Gold Price: 1174.90, Gold RSI: 39.64
Oil Price: 58.00, Oil RSI: 48.31
[Recent News (last 7 days)]
New York regulator issues final virtual currency rules: By Karen Freifeld and Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - New York state issued on Wednesday extensive new rules for companies that operate in virtual currencies such as bitcoin but did little to accommodate complaints that overly tight regulation could hamper the nascent industry. The new rules, the first by a state, create comprehensive guidelines for regulating digital currency firms, according to the state's Department of Financial Services, which developed the regulations. It means that digital currency companies operating in New York state that hold customer funds and exchange virtual currencies for dollars or other currencies are required to apply for what is known as a state "BitLicense." "There is a basic bargain that when a financial company is entrusted with safeguarding customer funds and receives a licence from the state to do so, it accepts the need for heightened regulatory scrutiny to help ensure that a consumer's money does not just disappear into a black hole," Benjamin Lawsky, superintendent of the New York state regulator, said in a speech Wednesday at the BITS Emerging Payments Forum in Washington. The "BitLicense" rules include consumer protection, anti-money laundering and cybersecurity protections. The regulations come as digital currencies have drawn criticism for attracting drug dealers and other criminal elements, whilst failing to safeguarding consumer funds. Last year, bitcoin exchange Mt. Gox collapsed after it claimed to have lost $500 million worth of customer bitcoins after being hacked. Overall, industry participants said New York's new rules are still problematic but nonetheless an improvement over the original proposals laid out in July and revised in December. Digital currency companies are required to obtain prior approval for material changes to their products or business models, such as wallet firms offering exchange services. They would also need approval for new controlling investors. But they would not need approval from the state for every round of venture capital funding or standard software updates. "We have no interest in micro-managing minor app updates. We're not Apple," said Lawsky. Companies that want both a BitLicense and a money transmitter licence can work with the state regulator to have a "one-stop" application submission to cover the requirements for both. Jerry Brito, executive director of non-profit research group Coin Centre, called the final regulations "far from perfect," specifically citing what he said were vague state-level anti-money laundering obligations that go beyond federal regulations. He said the group was working with other states "to ensure they do not repeat the mistakes made here." The rules do not apply to software developers, individual users, customer loyalty programmes, gift cards, currency miners, or merchants accepting bitcoin as payment. Lawsky, meanwhile, has come under fire from the bitcoin community for issuing the rules shortly after announcing he was leaving the agency to set up a consulting company that will advise companies on financial matters that could possibly include digital currencies. The most prominent virtual currency now is bitcoin, often used as an investment or to pay for goods and services online. Bitcoin prices have been steady of late, at $225.77 on the BitStamp platform on Wednesday. The price rose as high as $1,123 in December 2013. "I think (the rules) are going to increase the costs to entry for businesses," said New York attorney Reuben Grinberg, who specialises in virtual currency. "But I think it's going to give consumers greater peace of mind and will end up promoting investment in this area much more so than it hurts." (Reporting by Gertrude Chavez-Dreyfuss and Karen Freifeld; Editing by Chizu Nomiyama and Steve Orlofsky) || New York regulator issues final virtual currency rules: By Karen Freifeld and Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - New York state issued on Wednesday extensive new rules for companies that operate in virtual currencies such as bitcoin but did little to accommodate complaints that overly tight regulation could hamper the nascent industry. The new rules, the first by a state, create comprehensive guidelines for regulating digital currency firms, according to the state's Department of Financial Services, which developed the regulations. It means that digital currency companies operating in New York state that hold customer funds and exchange virtual currencies for dollars or other currencies are required to apply for what is known as a state "BitLicense." "There is a basic bargain that when a financial company is entrusted with safeguarding customer funds and receives a license from the state to do so, it accepts the need for heightened regulatory scrutiny to help ensure that a consumer's money does not just disappear into a black hole," Benjamin Lawsky, superintendent of the New York state regulator, said in a speech Wednesday at the BITS Emerging Payments Forum in Washington. The "BitLicense" rules include consumer protection, anti-money laundering and cybersecurity protections. The regulations come as digital currencies have drawn criticism for attracting drug dealers and other criminal elements, while failing to safeguarding consumer funds. Last year, bitcoin exchange Mt. Gox collapsed after it claimed to have lost $500 million worth of customer bitcoins after being hacked. Overall, industry participants said New York's new rules are still problematic but nonetheless an improvement over the original proposals laid out in July and revised in December. Digital currency companies are required to obtain prior approval for material changes to their products or business models, such as wallet firms offering exchange services. They would also need approval for new controlling investors. Story continues But they would not need approval from the state for every round of venture capital funding or standard software updates. "We have no interest in micro-managing minor app updates. We're not Apple," said Lawsky. Companies that want both a BitLicense and a money transmitter license can work with the state regulator to have a "one-stop" application submission to cover the requirements for both. Jerry Brito, executive director of non-profit research group Coin Center, called the final regulations "far from perfect," specifically citing what he said were vague state-level anti-money laundering obligations that go beyond federal regulations. He said the group was working with other states "to ensure they do not repeat the mistakes made here." The rules do not apply to software developers, individual users, customer loyalty programs, gift cards, currency miners, or merchants accepting bitcoin as payment. Lawsky, meanwhile, has come under fire from the bitcoin community for issuing the rules shortly after announcing he was leaving the agency to set up a consulting company that will advise companies on financial matters that could possibly include digital currencies. The most prominent virtual currency now is bitcoin, often used as an investment or to pay for goods and services online. Bitcoin prices have been steady of late, at $225.77 on the BitStamp platform on Wednesday. The price rose as high as $1,123 in December 2013. "I think (the rules) are going to increase the costs to entry for businesses," said New York attorney Reuben Grinberg, who specializes in virtual currency. "But I think it's going to give consumers greater peace of mind and will end up promoting investment in this area much more so than it hurts." (Reporting by Gertrude Chavez-Dreyfuss and Karen Freifeld; Editing by Chizu Nomiyama and Steve Orlofsky) || New York regulator issues final virtual currency rules: By Karen Freifeld and Gertrude Chavez-Dreyfuss
NEW YORK (Reuters) - New York state issued on Wednesday extensive new rules for companies that operate in virtual currencies such as bitcoin but did little to accommodate complaints that overly tight regulation could hamper the nascent industry.
The new rules, the first by a state, create comprehensive guidelines for regulating digital currency firms, according to the state's Department of Financial Services, which developed the regulations.
It means that digital currency companies operating in New York state that hold customer funds and exchange virtual currencies for dollars or other currencies are required to apply for what is known as a state "BitLicense."
"There is a basic bargain that when a financial company is entrusted with safeguarding customer funds and receives a license from the state to do so, it accepts the need for heightened regulatory scrutiny to help ensure that a consumer's money does not just disappear into a black hole," Benjamin Lawsky, superintendent of the New York state regulator, said in a speech Wednesday at the BITS Emerging Payments Forum in Washington.
The "BitLicense" rules include consumer protection, anti-money laundering and cybersecurity protections.
The regulations come as digital currencies have drawn criticism for attracting drug dealers and other criminal elements, while failing to safeguarding consumer funds.
Last year, bitcoin exchange Mt. Gox collapsed after it claimed to have lost $500 million worth of customer bitcoins after being hacked.
Overall, industry participants said New York's new rules are still problematic but nonetheless an improvement over the original proposals laid out in July and revised in December.
Digital currency companies are required to obtain prior approval for material changes to their products or business models, such as wallet firms offering exchange services. They would also need approval for new controlling investors.
But they would not need approval from the state for every round of venture capital funding or standard software updates.
"We have no interest in micro-managing minor app updates. We're not Apple," said Lawsky.
Companies that want both a BitLicense and a money transmitter license can work with the state regulator to have a "one-stop" application submission to cover the requirements for both.
Jerry Brito, executive director of non-profit research group Coin Center, called the final regulations "far from perfect," specifically citing what he said were vague state-level anti-money laundering obligations that go beyond federal regulations.
He said the group was working with other states "to ensure they do not repeat the mistakes made here."
The rules do not apply to software developers, individual users, customer loyalty programs, gift cards, currency miners, or merchants accepting bitcoin as payment.
Lawsky, meanwhile, has come under fire from the bitcoin community for issuing the rules shortly after announcing he was leaving the agency to set up a consulting company that will advise companies on financial matters that could possibly include digital currencies.
The most prominent virtual currency now is bitcoin, often used as an investment or to pay for goods and services online.
Bitcoin prices have been steady of late, at $225.77 on the BitStamp platform on Wednesday. The price rose as high as $1,123 in December 2013.
"I think (the rules) are going to increase the costs to entry for businesses," said New York attorney Reuben Grinberg, who specializes in virtual currency. "But I think it's going to give consumers greater peace of mind and will end up promoting investment in this area much more so than it hurts."
(Reporting by Gertrude Chavez-Dreyfuss and Karen Freifeld; Editing by Chizu Nomiyama and Steve Orlofsky) || New York regulator issues final virtual currency rules: By Karen Freifeld and Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - New York state issued on Wednesday extensive new rules for companies that operate in virtual currencies such as bitcoin but did little to accommodate complaints that overly tight regulation could hamper the nascent industry. The new rules, the first by a state, create comprehensive guidelines for regulating digital currency firms, according to the state's Department of Financial Services, which developed the regulations. It means that digital currency companies operating in New York state that hold customer funds and exchange virtual currencies for dollars or other currencies are required to apply for what is known as a state "BitLicense." "There is a basic bargain that when a financial company is entrusted with safeguarding customer funds and receives a license from the state to do so, it accepts the need for heightened regulatory scrutiny to help ensure that a consumer's money does not just disappear into a black hole," Benjamin Lawsky, superintendent of the New York state regulator, said in a speech Wednesday at the BITS Emerging Payments Forum in Washington. The "BitLicense" rules include consumer protection, anti-money laundering and cybersecurity protections. The regulations come as digital currencies have drawn criticism for attracting drug dealers and other criminal elements, while failing to safeguarding consumer funds. Last year, bitcoin exchange Mt. Gox collapsed after it claimed to have lost $500 million worth of customer bitcoins after being hacked. Overall, industry participants said New York's new rules are still problematic but nonetheless an improvement over the original proposals laid out in July and revised in December. Digital currency companies are required to obtain prior approval for material changes to their products or business models, such as wallet firms offering exchange services. They would also need approval for new controlling investors. Story continues But they would not need approval from the state for every round of venture capital funding or standard software updates. "We have no interest in micro-managing minor app updates. We're not Apple," said Lawsky. Companies that want both a BitLicense and a money transmitter license can work with the state regulator to have a "one-stop" application submission to cover the requirements for both. Jerry Brito, executive director of non-profit research group Coin Center, called the final regulations "far from perfect," specifically citing what he said were vague state-level anti-money laundering obligations that go beyond federal regulations. He said the group was working with other states "to ensure they do not repeat the mistakes made here." The rules do not apply to software developers, individual users, customer loyalty programs, gift cards, currency miners, or merchants accepting bitcoin as payment. Lawsky, meanwhile, has come under fire from the bitcoin community for issuing the rules shortly after announcing he was leaving the agency to set up a consulting company that will advise companies on financial matters that could possibly include digital currencies. The most prominent virtual currency now is bitcoin, often used as an investment or to pay for goods and services online. Bitcoin prices have been steady of late, at $225.77 on the BitStamp platform on Wednesday. The price rose as high as $1,123 in December 2013. "I think (the rules) are going to increase the costs to entry for businesses," said New York attorney Reuben Grinberg, who specializes in virtual currency. "But I think it's going to give consumers greater peace of mind and will end up promoting investment in this area much more so than it hurts." (Reporting by Gertrude Chavez-Dreyfuss and Karen Freifeld; Editing by Chizu Nomiyama and Steve Orlofsky) || New York regulator issues final virtual currency rules: By Karen Freifeld and Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - New York state issued on Wednesday extensive new rules for companies that operate in virtual currencies such as bitcoin but did little to accommodate complaints that overly tight regulation could hamper the nascent industry. The new rules, the first by a state, create comprehensive guidelines for regulating digital currency firms, according to the state's Department of Financial Services, which developed the regulations. It means that digital currency companies operating in New York state that hold customer funds and exchange virtual currencies for dollars or other currencies are required to apply for what is known as a state "BitLicense." "There is a basic bargain that when a financial company is entrusted with safeguarding customer funds and receives a license from the state to do so, it accepts the need for heightened regulatory scrutiny to help ensure that a consumer's money does not just disappear into a black hole," Benjamin Lawsky, superintendent of the New York state regulator, said in a speech Wednesday at the BITS Emerging Payments Forum in Washington. The "BitLicense" rules include consumer protection, anti-money laundering and cybersecurity protections. The regulations come as digital currencies have drawn criticism for attracting drug dealers and other criminal elements, while failing to safeguarding consumer funds. Last year, bitcoin exchange Mt. Gox collapsed after it claimed to have lost $500 million worth of customer bitcoins after being hacked. Overall, industry participants said New York's new rules are still problematic but nonetheless an improvement over the original proposals laid out in July and revised in December. Digital currency companies are required to obtain prior approval for material changes to their products or business models, such as wallet firms offering exchange services. They would also need approval for new controlling investors. Story continues But they would not need approval from the state for every round of venture capital funding or standard software updates. "We have no interest in micro-managing minor app updates. We're not Apple," said Lawsky. Companies that want both a BitLicense and a money transmitter license can work with the state regulator to have a "one-stop" application submission to cover the requirements for both. Jerry Brito, executive director of non-profit research group Coin Center, called the final regulations "far from perfect," specifically citing what he said were vague state-level anti-money laundering obligations that go beyond federal regulations. He said the group was working with other states "to ensure they do not repeat the mistakes made here." The rules do not apply to software developers, individual users, customer loyalty programs, gift cards, currency miners, or merchants accepting bitcoin as payment. Lawsky, meanwhile, has come under fire from the bitcoin community for issuing the rules shortly after announcing he was leaving the agency to set up a consulting company that will advise companies on financial matters that could possibly include digital currencies. The most prominent virtual currency now is bitcoin, often used as an investment or to pay for goods and services online. Bitcoin prices have been steady of late, at $225.77 on the BitStamp platform on Wednesday. The price rose as high as $1,123 in December 2013. "I think (the rules) are going to increase the costs to entry for businesses," said New York attorney Reuben Grinberg, who specializes in virtual currency. "But I think it's going to give consumers greater peace of mind and will end up promoting investment in this area much more so than it hurts." (Reporting by Gertrude Chavez-Dreyfuss and Karen Freifeld; Editing by Chizu Nomiyama and Steve Orlofsky) || New York regulator issues final virtual currency rules: By Karen Freifeld and Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - New York state issued on Wednesday extensive new rules for companies that operate in virtual currencies such as bitcoin but did little to accommodate complaints that overly tight regulation could hamper the nascent industry. The new rules, the first by a state, create comprehensive guidelines for regulating digital currency firms, according to the state's Department of Financial Services, which developed the regulations. It means that digital currency companies operating in New York state that hold customer funds and exchange virtual currencies for dollars or other currencies are required to apply for what is known as a state "BitLicense." "There is a basic bargain that when a financial company is entrusted with safeguarding customer funds and receives a licence from the state to do so, it accepts the need for heightened regulatory scrutiny to help ensure that a consumer's money does not just disappear into a black hole," Benjamin Lawsky, superintendent of the New York state regulator, said in a speech Wednesday at the BITS Emerging Payments Forum in Washington. The "BitLicense" rules include consumer protection, anti-money laundering and cybersecurity protections. The regulations come as digital currencies have drawn criticism for attracting drug dealers and other criminal elements, whilst failing to safeguarding consumer funds. Last year, bitcoin exchange Mt. Gox collapsed after it claimed to have lost $500 million worth of customer bitcoins after being hacked. Overall, industry participants said New York's new rules are still problematic but nonetheless an improvement over the original proposals laid out in July and revised in December. Digital currency companies are required to obtain prior approval for material changes to their products or business models, such as wallet firms offering exchange services. They would also need approval for new controlling investors. But they would not need approval from the state for every round of venture capital funding or standard software updates. "We have no interest in micro-managing minor app updates. We're not Apple," said Lawsky. Companies that want both a BitLicense and a money transmitter licence can work with the state regulator to have a "one-stop" application submission to cover the requirements for both. Jerry Brito, executive director of non-profit research group Coin Centre, called the final regulations "far from perfect," specifically citing what he said were vague state-level anti-money laundering obligations that go beyond federal regulations. He said the group was working with other states "to ensure they do not repeat the mistakes made here." The rules do not apply to software developers, individual users, customer loyalty programmes, gift cards, currency miners, or merchants accepting bitcoin as payment. Lawsky, meanwhile, has come under fire from the bitcoin community for issuing the rules shortly after announcing he was leaving the agency to set up a consulting company that will advise companies on financial matters that could possibly include digital currencies. The most prominent virtual currency now is bitcoin, often used as an investment or to pay for goods and services online. Bitcoin prices have been steady of late, at $225.77 on the BitStamp platform on Wednesday. The price rose as high as $1,123 in December 2013. "I think (the rules) are going to increase the costs to entry for businesses," said New York attorney Reuben Grinberg, who specialises in virtual currency. "But I think it's going to give consumers greater peace of mind and will end up promoting investment in this area much more so than it hurts." (Reporting by Gertrude Chavez-Dreyfuss and Karen Freifeld; Editing by Chizu Nomiyama and Steve Orlofsky) || Which Tech Billionaires Donate the Most to Charity? (Infographic): When youre sitting on billions, even millions, you can easily afford to give generously to charity and should, and not just for the tax breaks. Whether fueled by a genuine desire to make a difference or out of sheer vanity -- or, yes, to greedily ease the tax blow -- todays tech titans are showering their favorite charities with cash. Bill Gates, easily the most famous philanthropist among the tech elite, is back on top again as the richest man in the world , clocking an estimated net worth of $79.7 billion . Hes also arguably the most generous soul on earth. Related: How the World's First Bitcoin Charity Is Harnessing the Cryptocurrency to Change Lives (VIDEO) The Microsoft co-founder, a Harvard dropout, founded the Bill & Melinda Gates Foundation with his wife in 2000. The aim of the nonprofit is to improve U.S. education and global health. To date, hes donated $29.5 billion to what is now the worlds largest private foundation. Gates also launched The Giving Pledge with his wife, Melinda, and fellow billionaire Warren Buffett. The initiative encourages the worlds wealthiest to give the majority of their fortunes to charity. One tech billionaire you might not have heard of, Intel co-founder Gordon Moore, the visionary behind Moores Law , is also one of the globes most prolific philanthropists. He and his wife, Betty, joined The Giving Pledge in 2012, eleven years after donating half of their wealth to their own namesake foundation . Related: Why Bill Gates Is Backing Impact Entrepreneurs in India For a deeper dive into Gatess and Moores exceptional charitable giving efforts -- along with those of four more of todays leading tech billionaires -- check out the fact-packed infographic below, care of Who Is Hosting This . Click to Enlarge Which Tech Billionaires Donate the Most to Charity? (Infographic) Image credit: Who Is Hosting This Related: 4 Ways Entrepreneurs Can Pay It Forward || Which Tech Billionaires Donate the Most to Charity? (Infographic): When you’re sitting on billions, even millions, you can easily afford to give generously to charity and should, and not just for the tax breaks. Whether fueled by a genuine desire to make a difference or out of sheer vanity -- or, yes, to greedily ease the tax blow -- today’s tech titans are showering their favorite charities with cash.
Bill Gates, easily the most famous philanthropist among the tech elite, is back on top again as therichest man in the world, clocking an estimated net worth of$79.7 billion. He’s also arguably the most generous soul on earth.
Related:How the World's First Bitcoin Charity Is Harnessing the Cryptocurrency to Change Lives (VIDEO)
The Microsoft co-founder, a Harvard dropout, founded the Bill & Melinda Gates Foundation with his wife in 2000. The aim of the nonprofit is to improve U.S. education and global health. To date, he’s donated$29.5 billionto what is now the world’s largest private foundation. Gates also launchedThe Giving Pledgewith his wife, Melinda, and fellow billionaire Warren Buffett. The initiative encourages the world’s wealthiest to give the majority of their fortunes to charity.
One tech billionaire you might not have heard of, Intel co-founder Gordon Moore, the visionary behindMoore’s Law, is also one of the globe’smost prolificphilanthropists. He and his wife, Betty, joined The Giving Pledge in 2012, eleven years after donating half of their wealth to their own namesakefoundation.
Related:Why Bill Gates Is Backing Impact Entrepreneurs in India
For a deeper dive into Gates’s and Moore’s exceptional charitable giving efforts -- along with those of four more of today’s leading tech billionaires -- check out the fact-packed infographic below, care ofWho Is Hosting This.
Image credit: Who Is Hosting This
Related:4 Ways Entrepreneurs Can Pay It Forward || Blockchain Could Be Used For Surveillance: Bitcoinhas been under the microscope in recent months after the currency was in the news several times for being used to aid inillicitactivities.
Many believe that the anonymity that cryptocurrencies provide makes their use attractive to criminals who need to cover their tracks; but Estonian-based Guardtime claims that blockchain, the ledger-like technology that bitcoin runs on, could do just the opposite.
Protecting Information
Blockchain keeps a record of all bitcoin transactions in order to ensure that users are not making more than one transaction with the same bitcoin.
This system, Guardtime execs say, could do the same for record keeping and sensitive information.
Related Link: Cryptocurrencies In Focus At Cyercrime Event
Tamper Proof
When it comes to bitcoin, blockchain ledgers are impossible to tamper with because a copy of the blockchain is held by every client, and in order to change a transaction, a hacker would need control of at least half of the world's blockchain copies.
If blockchain were applied to sensitive files in an organization, every employee would have a copy of that ledger – making it quite difficult for anyone, even a top-level exec, to tamper with those files.
Although the information in those files wouldn't be protected by blockchain itself, the movements in and out of each file would be logged in such a way that no one could deny accessing or changing a file.
Protecting A Connected World
Guardtime says it has already teamed up withEricsson (ADR)(NASDAQ:ERIC) to create Black Lantern, a system that uses blockchain technology to monitor chunks of data and alert companies if they've been tampered with.
The company said that as more devices continue to be incorporated into the Internet of Things, security like Black Lantern will be necessary to ensure that outside vendors haven't tampered with the being sent back and forth.
Image Credit: Public Domain
See more from Benzinga
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• Raytheon Unveils New Cybersecurity Arm
• Bitcoin Mining Lightbulbs Prove Cryptocurrencies Won't Be Left Behind In The IoT
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Blockchain Could Be Used For Surveillance: Bitcoin has been under the microscope in recent months after the currency was in the news several times for being used to aid in illicit activities. Many believe that the anonymity that cryptocurrencies provide makes their use attractive to criminals who need to cover their tracks; but Estonian-based Guardtime claims that blockchain, the ledger-like technology that bitcoin runs on, could do just the opposite. Protecting Information Blockchain keeps a record of all bitcoin transactions in order to ensure that users are not making more than one transaction with the same bitcoin. This system, Guardtime execs say, could do the same for record keeping and sensitive information. Related Link: Cryptocurrencies In Focus At Cyercrime Event Tamper Proof When it comes to bitcoin, blockchain ledgers are impossible to tamper with because a copy of the blockchain is held by every client, and in order to change a transaction, a hacker would need control of at least half of the world's blockchain copies. If blockchain were applied to sensitive files in an organization, every employee would have a copy of that ledger – making it quite difficult for anyone, even a top-level exec, to tamper with those files. Although the information in those files wouldn't be protected by blockchain itself, the movements in and out of each file would be logged in such a way that no one could deny accessing or changing a file. Protecting A Connected World Guardtime says it has already teamed up with Ericsson (ADR) (NASDAQ: ERIC ) to create Black Lantern, a system that uses blockchain technology to monitor chunks of data and alert companies if they've been tampered with. The company said that as more devices continue to be incorporated into the Internet of Things, security like Black Lantern will be necessary to ensure that outside vendors haven't tampered with the being sent back and forth. Image Credit: Public Domain See more from Benzinga Pinterest To Compete With Social Media Moguls Using New Buy Button Raytheon Unveils New Cybersecurity Arm Bitcoin Mining Lightbulbs Prove Cryptocurrencies Won't Be Left Behind In The IoT © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. View comments || Why financial firms are investigating bitcoin tech: The technological innovation behind bitcoin(:BTC=)has the potential to empower the existing financial world, not just disrupt banks out of existence as some have foretold, according to a former Wall Street exec.
"The blockchain is the financial challenge of our time," said Blythe Masters, CEO of Digital Asset Holdings, on Tuesday at theExponential Finance Conferencehosted by CNBC and Singularity University. "It is going to change the way that our financial world operates."
Arguing that bitcoin's underlying technology has the opportunity to improve settlement latency and system security for firms, Masters said the market for financial blockchain applications will ultimately be "measured in the trillions."
Read MoreWhy is it called the 'blockchain?'
While promoting her own firm-which she said bridges the gap between the blockchain development world and financial services-Masters said that major financial firms "have all begun to dedicate a significant amount of time and effort" to learning about the technology. She previously served as an executive at JPMorgan Chase.
In the past six months, "everybody realized that bitcoin's more than a currency," saidBrian Kelly of Brian Kelly Capital. "Everybody had their 'aha' moment, and investors with many millions of dollars to spend are starting to see how it can be used."
CNBC reported six months agothat investors and technologists increasingly think the technology underpinning bitcoin-called "blockchain"-could ultimately be more revolutionary than the currency.
Now, more than a dozen big banks and tech firms have dived into the field, including Seagate(STX), Nasdaq(NDAQ), Overstock(OSTK), IBM(IBM), Samsung(: 593'A-KR), UBS(Swiss Exchange: UBSG-CH), Barclays(London Stock Exchange: BARC-GB), Banco Santander(Mercado Continuo: SAN-ES)and Intel(INTC)-to name a few.
Blockchain is what makes bitcoin tick: It serves as an unalterable record of all bitcoin transactions. To instill faith that no one can double-spend their currency (one of the chief concerns about a digital token as opposed to physical bills) this ledger needs to be completely secure from tampering. It achieves this feat-and has so far proven unhackable-by regularly syncing with servers across the globe.
It is that unalterable-and transparent-record-keeping function that makes blockchain the potential foundation of any number of other technologies.
Levels of commitment vary among firms. Seagate invested in Ripple Labs to become an "active participant" in the blockchain space,a firm executive told CoinDesk. Ina proof-of-concept paper, IBM and Samsung said blockchain technology could add an important level of security to devices in the emerging "Internet-of-Things" space, for example "smart" appliances.
On the finance side of the equation, Nasdaq launched an"enterprise-wide initiative"to leverage the blockchain. This is expected to begin later this year by using the technology to build out the equity management ledger on the Nasdaq Private Market platform, the company said.
Read MoreBitcoin's golden moment: BIT gets FINRA approval
Nasdaq CEO Robert Greifeldtold theFinancial Timeshe wants his company to be a leader in the field. But there will be competition, as several finance firms have all sought exposure to the blockchain.
The financial community was slow to come around to this technology-which promises to provide security for money and information transfers without a trusted middleman-but they are beginning to embrace it as a cost-saving tool, Kelly said.
The blockchain tech has even attracted the attention of Virgin's Richard Branson, who last week hostedthe Blockchain Summiton his private island in the British Virgin Islands. Jeff Garzik, one of five bitcoin core developers who have taken over maintenance of the technology from mysterious creator Satoshi Nakamoto, spoke with CNBC from that event.
"Even as far along as we are, it's still the early days," Garzik said. "It's still the pre-web, pre-1990 Internet."
Here are some of the big firms looking for a piece of the blockchain:
Garzik, who now works full-time atDunvegan Space Systems, predicted the myriad applications of the blockchain will eventually help form the infrastructure for a spate of new technologies, much like Transmission Control Protocol/Internet Protocol (TCP/IP)-the basic communication language of the Internet-does now.
"You don't have a conversation today about TCP/IP: This is the lowest layer of a money network," he said. "You're not going to say 'Let's adopt bitcoin,' you're going to say 'Let's use this money layer infrastructure.' You'll talk about the money web, or something of that nature, you won't talk about the blockchain itself."
Will bitcoin survive?
It's a common refrain among a portion of the business community that they love blockchain, but not bitcoin-implying the notoriously volatile currency is an unsound investment at the same time its technology could change the world. Bitcoin enthusiasts, however, emphasize that you cannot have one without the other.
Although that's technically untrue-a new blockchain could be based on a new currency-nearly every conception of the technology requires some sort of token to function. And bitcoin is unlikely to be overtaken: Its mass adoption and comparatively lengthy history mean it would be several orders of magnitude more secure than any upstart coin.
Read MoreForget currency, bitcoin tech could disrupt massively
Separate blockchains have already popped up for various applications, but most periodically tie back to the bitcoin data chain in order to increase their own security.
And for its part as a currency, bitcoin is maturing: Firms are working to popularize derivatives, and abitcoin-tied investment vehiclebegan trading on the over the counter OTCQX marketplace.
More From CNBC
• Top News and Analysis
• Latest News Video
• Personal Finance || Why financial firms are investigating bitcoin tech: The technological innovation behind bitcoin (:BTC=) has the potential to empower the existing financial world, not just disrupt banks out of existence as some have foretold, according to a former Wall Street exec. "The blockchain is the financial challenge of our time," said Blythe Masters, CEO of Digital Asset Holdings, on Tuesday at the Exponential Finance Conference hosted by CNBC and Singularity University. "It is going to change the way that our financial world operates." Arguing that bitcoin's underlying technology has the opportunity to improve settlement latency and system security for firms, Masters said the market for financial blockchain applications will ultimately be "measured in the trillions." Read More Why is it called the 'blockchain?' While promoting her own firm -which she said bridges the gap between the blockchain development world and financial services-Masters said that major financial firms "have all begun to dedicate a significant amount of time and effort" to learning about the technology. She previously served as an executive at JPMorgan Chase. In the past six months, "everybody realized that bitcoin's more than a currency," said Brian Kelly of Brian Kelly Capital . "Everybody had their 'aha' moment, and investors with many millions of dollars to spend are starting to see how it can be used." CNBC reported six months ago that investors and technologists increasingly think the technology underpinning bitcoin-called "blockchain"-could ultimately be more revolutionary than the currency. Now, more than a dozen big banks and tech firms have dived into the field, including Seagate ( STX ) , Nasdaq ( NDAQ ) , Overstock ( OSTK ) , IBM ( IBM ) , Samsung (: 593'A-KR) , UBS (Swiss Exchange: UBSG-CH) , Barclays (London Stock Exchange: BARC-GB) , Banco Santander (Mercado Continuo: SAN-ES) and Intel ( INTC ) -to name a few. Blockchain is what makes bitcoin tick: It serves as an unalterable record of all bitcoin transactions. To instill faith that no one can double-spend their currency (one of the chief concerns about a digital token as opposed to physical bills) this ledger needs to be completely secure from tampering. It achieves this feat-and has so far proven unhackable-by regularly syncing with servers across the globe. Story continues It is that unalterable-and transparent-record-keeping function that makes blockchain the potential foundation of any number of other technologies. Levels of commitment vary among firms. Seagate invested in Ripple Labs to become an "active participant" in the blockchain space, a firm executive told CoinDesk . In a proof-of-concept paper , IBM and Samsung said blockchain technology could add an important level of security to devices in the emerging "Internet-of-Things" space, for example "smart" appliances. On the finance side of the equation, Nasdaq launched an "enterprise-wide initiative" to leverage the blockchain. This is expected to begin later this year by using the technology to build out the equity management ledger on the Nasdaq Private Market platform, the company said. Read More Bitcoin's golden moment: BIT gets FINRA approval Nasdaq CEO Robert Greifeld told the Financial Times he wants his company to be a leader in the field. But there will be competition, as several finance firms have all sought exposure to the blockchain. The financial community was slow to come around to this technology-which promises to provide security for money and information transfers without a trusted middleman-but they are beginning to embrace it as a cost-saving tool, Kelly said. The blockchain tech has even attracted the attention of Virgin's Richard Branson, who last week hosted the Blockchain Summit on his private island in the British Virgin Islands. Jeff Garzik, one of five bitcoin core developers who have taken over maintenance of the technology from mysterious creator Satoshi Nakamoto, spoke with CNBC from that event. "Even as far along as we are, it's still the early days," Garzik said. "It's still the pre-web, pre-1990 Internet." Here are some of the big firms looking for a piece of the blockchain: Garzik, who now works full-time at Dunvegan Space Systems , predicted the myriad applications of the blockchain will eventually help form the infrastructure for a spate of new technologies, much like Transmission Control Protocol/Internet Protocol (TCP/IP)-the basic communication language of the Internet-does now. "You don't have a conversation today about TCP/IP: This is the lowest layer of a money network," he said. "You're not going to say 'Let's adopt bitcoin,' you're going to say 'Let's use this money layer infrastructure.' You'll talk about the money web, or something of that nature, you won't talk about the blockchain itself." Will bitcoin survive? It's a common refrain among a portion of the business community that they love blockchain, but not bitcoin-implying the notoriously volatile currency is an unsound investment at the same time its technology could change the world. Bitcoin enthusiasts, however, emphasize that you cannot have one without the other. Although that's technically untrue-a new blockchain could be based on a new currency-nearly every conception of the technology requires some sort of token to function. And bitcoin is unlikely to be overtaken: Its mass adoption and comparatively lengthy history mean it would be several orders of magnitude more secure than any upstart coin. Read More Forget currency, bitcoin tech could disrupt massively Separate blockchains have already popped up for various applications, but most periodically tie back to the bitcoin data chain in order to increase their own security. And for its part as a currency, bitcoin is maturing: Firms are working to popularize derivatives, and a bitcoin-tied investment vehicle began trading on the over the counter OTCQX marketplace. More From CNBC Top News and Analysis Latest News Video Personal Finance || UK Lebanon Tech Hub Up And Running: The UK Lebanon Tech Hub was finally unveiled in Lebanon at the Beirut Digital Park, after British Ambassador to Lebanon Thomas Fletcher announced the program at the Banque du Liban Accelerate startup conference back in November 2014. Ambassador Fletcher said that he hopes that UK Lebanon Tech Hub could provide a “launch pad” for emerging tech startups , given the limited tech infrastructure available. The launch event, which featured speeches by Ambassador Fletcher and Central Bank Governor Riad Salameh, was met with an overwhelmingly positive response. Governor Salameh’s talk was incredibly promising for Lebanese entrepreneurs , given that the Central Bank pledged to play a major role in boosting local startups with their Circular 331 initiative. Some of Lebanon’s most promising tech startups now have the opportunity to take their endeavors to a global level with help from Britain’s top-notch infrastructure and training personnel. Prior to the official launch, some of Lebanon’s tech startups presented their businesses for the press, including Bitcoin-powered e-commerce payment platform Yellow payments, and mobile videogame developers Game Cooks. While some of Lebanon’s best up-and-coming startups will enjoy the boost that they deserve through this program, we could only hope that bringing out the potential in some of the country’s most talented entrepreneurs could finally make way for better tech infrastructure and facilities British Ambassador to Lebanon Thomas Fletcher and Governor of the Banque du Liban- Lebanon's Central Bank- Riad Salameh Source: UK Lebanon Tech Hub || UK Lebanon Tech Hub Up And Running: TheUK Lebanon Tech Hubwas finally unveiled in Lebanon at the Beirut Digital Park, after British Ambassador to Lebanon Thomas Fletcher announced the program at the Banque du Liban Accelerate startup conference back in November 2014. Ambassador Fletcher said that he hopes that UK Lebanon Tech Hub could provide a “launch pad” for emergingtech startups, given the limited tech infrastructure available. The launch event, which featured speeches by Ambassador Fletcher and Central Bank Governor Riad Salameh, was met with an overwhelmingly positive response. Governor Salameh’s talk was incredibly promising forLebanese entrepreneurs, given that the Central Bank pledged to play a major role in boosting local startups with their Circular 331 initiative. Some of Lebanon’s most promising tech startups now have the opportunity to take their endeavors to a global level with help from Britain’s top-notch infrastructure and training personnel. Prior to the official launch, some of Lebanon’s tech startups presented their businesses for the press, including Bitcoin-powerede-commerce payment platformYellow payments, and mobile videogame developers Game Cooks. While some of Lebanon’s best up-and-coming startups will enjoy the boost that they deserve through this program, we could only hope that bringing out the potential in some of the country’s most talented entrepreneurs could finally make way for better tech infrastructure and facilities
British Ambassador to Lebanon Thomas Fletcher and Governor of the Banque du Liban- Lebanon's Central Bank- Riad Salameh Source: UK Lebanon Tech Hub || Microelectronics Plans Expansion Through Reduced Electrical Expense: MONARCH BAY, CA / ACCESSWIRE / May 29, 2015 / Microelectronics Technology Company ( MELY ) announces pending planned expansion in its Bitcoin server mining operation. The Company is moving forward in the next phase of its planned expansion of its Bitcoin mining operation, as it has entered into a letter of intent to acquire electricity at the lowest price available to a bitcoin mining operation in the United States. The letter of intent outlines up to 10 Mega Watts of electrical power dedicated specifically to the needs of Microelectronics Technology Company. The electrical rate for this power averages 2 cents per kilowatt, the lowest rate in the Country. The electrical provider rates reliability of the electrical power at 99.99%. "With this amount of electrical power available to the Company we can now move forward with our expansion plans of a site designed and constructed with a bitcoin mining operation in mind," stated Brett Everett, President of the Company. "With the new chip technology coming to the market, this also increases the amount of Hash Rate the Company can run with 10 Mega Watts of electrical power, providing us with some very unique options." The timing for finalization for delivery of the contract for the power is June 16, 2015 in accordance with the terms outlined in the Letter of Intent. https://www.facebook.com/btcpoolparty Additional photos and videos can be viewed at the company's Facebook page: https://www.facebook.com/MELYPK . Forward-Looking Statements: This news release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. While these statements are made to convey Company progress, business opportunities and growth prospects, readers are cautioned that such forward-looking statements represent management's opinion. Whereas management believes such representations to be true and accurate based on information and data available to the Company at this time, actual results may differ materially and are subject to risk and uncertainties. Factors that may cause actual results to differ include without limitation: dependence on key personnel and suppliers; MELY's ability to commercialize its technology; ability to defend intellectual property; material and component costs; competition; economic conditions; consumer demand and product acceptance, and availability of growth capital. Story continues Additional considerations and risk factors are set forth-in reports filed on Form 8-K and 10-K with the SEC and other filings. Readers are cautioned not to place undue reliance upon these forward-looking statements; historical information is not an indicator of future performance. The Company undertakes no obligation to update publicly any forward-looking statements. CONTACT: For further Information: Microelectronics Technology Company President: Mr. Brett Everett 888-681-9777 ext. 5 info@melypk.com www.melypk.com SOURCE: Microelectronics Technology Company || Microelectronics Plans Expansion Through Reduced Electrical Expense: MONARCH BAY, CA / ACCESSWIRE / May 29, 2015 / Microelectronics Technology Company ( MELY ) announces pending planned expansion in its Bitcoin server mining operation. The Company is moving forward in the next phase of its planned expansion of its Bitcoin mining operation, as it has entered into a letter of intent to acquire electricity at the lowest price available to a bitcoin mining operation in the United States. The letter of intent outlines up to 10 Mega Watts of electrical power dedicated specifically to the needs of Microelectronics Technology Company. The electrical rate for this power averages 2 cents per kilowatt, the lowest rate in the Country. The electrical provider rates reliability of the electrical power at 99.99%. "With this amount of electrical power available to the Company we can now move forward with our expansion plans of a site designed and constructed with a bitcoin mining operation in mind," stated Brett Everett, President of the Company. "With the new chip technology coming to the market, this also increases the amount of Hash Rate the Company can run with 10 Mega Watts of electrical power, providing us with some very unique options." The timing for finalization for delivery of the contract for the power is June 16, 2015 in accordance with the terms outlined in the Letter of Intent. https://www.facebook.com/btcpoolparty Additional photos and videos can be viewed at the company's Facebook page: https://www.facebook.com/MELYPK . Forward-Looking Statements: This news release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. While these statements are made to convey Company progress, business opportunities and growth prospects, readers are cautioned that such forward-looking statements represent management's opinion. Whereas management believes such representations to be true and accurate based on information and data available to the Company at this time, actual results may differ materially and are subject to risk and uncertainties. Factors that may cause actual results to differ include without limitation: dependence on key personnel and suppliers; MELY's ability to commercialize its technology; ability to defend intellectual property; material and component costs; competition; economic conditions; consumer demand and product acceptance, and availability of growth capital. Story continues Additional considerations and risk factors are set forth-in reports filed on Form 8-K and 10-K with the SEC and other filings. Readers are cautioned not to place undue reliance upon these forward-looking statements; historical information is not an indicator of future performance. The Company undertakes no obligation to update publicly any forward-looking statements. CONTACT: For further Information: Microelectronics Technology Company President: Mr. Brett Everett 888-681-9777 ext. 5 info@melypk.com www.melypk.com SOURCE: Microelectronics Technology Company || The 21st Century Cures Act Gets A Mixed Reception: Last week, the House Energy and Commerce Committeeunanimously passedthe 21st Century Cures Act, a new bill that will help fund medical research and relax regulations related to the discovery, development and delivery of new drugs.
While some consider the new bill as a major step forward for the industry where the cost of developing new drugs has skyrocketed, others say the bill puts the public in danger as it doesn't require the meticulous testing that has been necessary in the past.
Funding Change
The bill offers incentives for scientists working on drugs that are important to the industry as a whole. The act dedicates government dollars to researchers working to develop precision medicine drugs and antibiotics that combat resistant strains.
The legislation also supports the creation of a massive genomic database that will use large volumes of genetic data in order to help in the push toward developing precision drugs that target a specific gene.
Related Link:Bio Applauds Approval Of 21st Century Cures Act
Safety Questions
Public safety groups have questioned the safety of such a bill, saying that allowing drugs to be approved by the Food and Drug Administration without full clinical testing creates a risk for patients. If passed, the bill would allow high-risk medical devices like pacemakers to gain approval without a full clinical study, something many say could create a dangerous precedent.
Biotechs On Board?
Biotech companies initially saw the bill as good for the industry as an initial draft extended market exclusivity rules for new drugs. However, those offers were dropped in the final version of the bill, leaving the biotech industry with little reason to back the bill.
The Energy and Commerce Committee recentlyrequestedfinancial support for the bill from the Biotechnology Industry Organization, something the group is unlikely to offer without any benefits.
Image Credit: Public Domain
See more from Benzinga
• Despite Warnings About A Grexit, Investors Remain Calm
• Should The UK Regulate Bitcoin Wallets?
• Federal Government Reminds Workers That Marijuana Is Still Off Limits
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || The 21st Century Cures Act Gets A Mixed Reception: Last week, the House Energy and Commerce Committee unanimously passed the 21st Century Cures Act, a new bill that will help fund medical research and relax regulations related to the discovery, development and delivery of new drugs. While some consider the new bill as a major step forward for the industry where the cost of developing new drugs has skyrocketed, others say the bill puts the public in danger as it doesn't require the meticulous testing that has been necessary in the past. Funding Change The bill offers incentives for scientists working on drugs that are important to the industry as a whole. The act dedicates government dollars to researchers working to develop precision medicine drugs and antibiotics that combat resistant strains. The legislation also supports the creation of a massive genomic database that will use large volumes of genetic data in order to help in the push toward developing precision drugs that target a specific gene. Related Link: Bio Applauds Approval Of 21st Century Cures Act Safety Questions Public safety groups have questioned the safety of such a bill, saying that allowing drugs to be approved by the Food and Drug Administration without full clinical testing creates a risk for patients. If passed, the bill would allow high-risk medical devices like pacemakers to gain approval without a full clinical study, something many say could create a dangerous precedent. Biotechs On Board? Biotech companies initially saw the bill as good for the industry as an initial draft extended market exclusivity rules for new drugs. However, those offers were dropped in the final version of the bill, leaving the biotech industry with little reason to back the bill. The Energy and Commerce Committee recently requested financial support for the bill from the Biotechnology Industry Organization, something the group is unlikely to offer without any benefits. Image Credit: Public Domain See more from Benzinga Despite Warnings About A Grexit, Investors Remain Calm Should The UK Regulate Bitcoin Wallets? Federal Government Reminds Workers That Marijuana Is Still Off Limits © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. View comments || Despite Warnings About A Grexit, Investors Remain Calm: With Greece and its EU creditors still trying to work out the details of an agreement to release the nation's bailout funds just days before Athens is due to make loan repayments, policymakers in other parts of the world are beginning to worry that aGreek exitfrom the eurozone is becoming a real possibility.
However, warnings from the U.S. and Canada have done little to upset investors, who appear to firmly believe that the two sides will reach a deal in the 11th hour.
Concern Abroad
On Wednesday, US Treasury Chief Jacob LewwarnedEU lawmakers that a Greek exit from the currency union would be devastating to global financial markets.
Lew appeared worried that European policy makers were complacent now that stability has returned to the region, and he cautioned that a crisis in Greece would almost certainly upset the balance in the region.
Related Link:Will Spain Become The Next Greece?
Canadian Finance Minister Joe Oliver reiterated Lew's remarks, saying that Greece may be small, but the ripple effect of a Greek crisis would be massive.
Lew and Oliver are heading to a Group of Seven meeting in Germany on Thursday, where Greek financial troubles will undoubtedly be a part of the discussion.
Investors Believe Resolution Is In Sight
Despite the tension surrounding Greek debt talks, investors have kept their calm. A Sentix survey of 1,000 investors showed that only 41 percent believe a Grexit is imminent.
That figure, though still high, marks a decline from the 49 percent who saw Greece leaving the euro in April. Although the debt talks have dragged on longer than anticipated, rhetoric from both sides suggest that there is a commitment to keeping Greece inside the eurozone, which has given investors confidence that the deal will be completed before Athens defaults.
Image Credit: Public Domain
See more from Benzinga
• Should The UK Regulate Bitcoin Wallets?
• Federal Government Reminds Workers That Marijuana Is Still Off Limits
• Entrepreneurs Got Their Groove Back In 2014
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Despite Warnings About A Grexit, Investors Remain Calm: With Greece and its EU creditors still trying to work out the details of an agreement to release the nation's bailout funds just days before Athens is due to make loan repayments, policymakers in other parts of the world are beginning to worry that a Greek exit from the eurozone is becoming a real possibility. However, warnings from the U.S. and Canada have done little to upset investors, who appear to firmly believe that the two sides will reach a deal in the 11th hour. Concern Abroad On Wednesday, US Treasury Chief Jacob Lew warned EU lawmakers that a Greek exit from the currency union would be devastating to global financial markets. Lew appeared worried that European policy makers were complacent now that stability has returned to the region, and he cautioned that a crisis in Greece would almost certainly upset the balance in the region. Related Link: Will Spain Become The Next Greece? Canadian Finance Minister Joe Oliver reiterated Lew's remarks, saying that Greece may be small, but the ripple effect of a Greek crisis would be massive. Lew and Oliver are heading to a Group of Seven meeting in Germany on Thursday, where Greek financial troubles will undoubtedly be a part of the discussion. Investors Believe Resolution Is In Sight Despite the tension surrounding Greek debt talks, investors have kept their calm. A Sentix survey of 1,000 investors showed that only 41 percent believe a Grexit is imminent. That figure, though still high, marks a decline from the 49 percent who saw Greece leaving the euro in April. Although the debt talks have dragged on longer than anticipated, rhetoric from both sides suggest that there is a commitment to keeping Greece inside the eurozone, which has given investors confidence that the deal will be completed before Athens defaults. Image Credit: Public Domain See more from Benzinga Should The UK Regulate Bitcoin Wallets? Federal Government Reminds Workers That Marijuana Is Still Off Limits Entrepreneurs Got Their Groove Back In 2014 © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. View comments
[Social Media Buzz]
1 #bitcoin 606.23 TL, 225.715 $, 202 €, GBP, 12350.00 RUR, 28936 ¥, CNH, 279.54 CAD #btc || $225.07 at 11:30 UTC [24h Range: $224.00 - $226.99 Volume: 5001 BTC] || Bitcoin traded at $227.8 USD on BTC-e at 02:00 AM Pacific Time || One Bitcoin now worth $223.10@bitstamp. High $225.98. Low $222.00. Market Cap $3.176 Billion #bitcoin || Current price: 145.44£ $BTCGBP $btc #bitcoin 2015-06-05 00:40:03 BST || #RDD / #BTC on the exchanges:
Cryptsy: 0.00000005
Bittrex: 0.00000005
Average $1.1E-5 per #...
|
224.95, 225.62, 222.88, 228.49, 229.05, 228.80, 229.71, 229.98, 232.40, 233.54
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Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 10070.39, 9729.32, 8620.57, 8486.99, 8118.97, 8251.85, 8245.92, 8104.19, 8293.87, 8343.28, 8393.04, 8259.99, 8205.94, 8151.50, 7988.16, 8245.62, 8228.78, 8595.74, 8586.47, 8321.76, 8336.56, 8321.01, 8374.69, 8205.37, 8047.53, 8103.91, 7973.21, 7988.56, 8222.08, 8243.72, 8078.20, 7514.67, 7493.49, 8660.70, 9244.97, 9551.71, 9256.15, 9427.69, 9205.73, 9199.58, 9261.10, 9324.72, 9235.35, 9412.61, 9342.53, 9360.88, 9267.56, 8804.88, 8813.58, 9055.53, 8757.79, 8815.66, 8808.26, 8708.09, 8491.99, 8550.76, 8577.98, 8309.29, 8206.15, 8027.27, 7642.75, 7296.58, 7397.80, 7047.92, 7146.13, 7218.37, 7531.66, 7463.11, 7761.24, 7569.63, 7424.29, 7321.99, 7320.15, 7252.03, 7448.31, 7547.00, 7556.24, 7564.35, 7400.90, 7278.12, 7217.43, 7243.13, 7269.68, 7124.67, 7152.30, 6932.48, 6640.52, 7276.80, 7202.84, 7218.82.
|
[Bitcoin Technical Analysis for 2019-12-20]
Volume: 22633815180, RSI (14-day): 45.35, 50-day EMA: 7741.96, 200-day EMA: 8342.10
[Wider Market Context]
Gold Price: 1474.70, Gold RSI: 51.95
Oil Price: 60.44, Oil RSI: 60.78
[Recent News (last 7 days)]
A Look At Cryptocurrency In 2020: What began as a paradigm shift in the world of fintech taking place over the past decade has reached global critical mass and is evolving into a generational tectonic shift that in 2020 will begin to impact almost everyone on the planet.
Some are calling it the 4th Industrial Revolution. It is a technological disruption that incorporates IoT and AI and enables the exchange of value and data in a mathematically immutable and trustless environment thereby eliminating middle-men and gatekeepers.
This new technology is the blockchain. Bitcoin is certainly a flagship in this armada of disruptive innovation but recent momentum is being driven by more advanced and more evolved blockchain protocols.
For the past few years pundits have been evangelizing the idea of “widespread adoption” of blockchain technology. Major enterprise and institutional players have been investing heavily in blockchain R&D and a robust global network of infrastructure has been built but far from being widespread, blockchain remains a niche technology.
Why 2020 will be different, how you can benefit, and why one smartphone app will be at the center of the massive shift.
Global Zeitgeist - Nation States And Central Banks
China
Probably the most striking example of state-sponsored interest in blockchain technology.
In October, President Xi Jinpeng gave a speech saying China needs to “seize the opportunities” presented by blockchain, in what appeared to be one of the first instances of a major world leader backing the tech. Xi said blockchain is an “important breakthrough in independent innovation of core technologies.”
“With President Xi’s backing blockchain, China has unequivocally said that the future foundation of technology is blockchain...” Jehan Chu, co-founder of Kenetic Capital, a trading and investment firm focused on digital assets, recently told CNBC.
France
France's central bank will next year launch a call for projects to develop a digital currency, as concern grows among EU governments over new currencies planned by Facebook and others.
The initiative by the French central bank is the first such by a eurozone central bank, with the ultimate aim to develop a digital euro that would be based on blockchain technology.
Germany
On November 29, 2019, the German Parliament passed a bill which amends an existing anti-money laundering directive to allow German banks to both sell and store cryptocurrencies. The new law will take effect January 1, 2020, though certain requirements must first be met through the country’s financial regulator.
Germany has also shown strong support for security tokens as well. This new form of raising capital leverages the benefits of blockchain technology — as seen in the popular Initial Coin Offering (ICO) — while declaring itself a securities offering. As such an offering, it is therefore subject to the stringent laws and regulations that come with fundraising.
Ukraine
According to Forklog, members of the Verkhovna Rada — Ukraine’s legislative arm, have adopted a new bill that incorporates international AML best practices into the country’s crypto regulatory framework.
As part of the newly adopted legislation, cryptos are now classified as property in Ukraine. Thus, virtual currency owners can use their digital holdings as a medium of exchange allowing room for legalized trading, payments, investments, and transfers.
Central Banks
According to a January 2019 report by the Bank for International Settlements (BIS) in Basel, Switzerland, at least 40 central banks around the world are currently, or soon will be, researching and experimenting with central bank digital currency (CBDC).
CBDC, a commonly proposed application of blockchain and distributed ledger technology (DLT), has attracted much interest within the central banking community for its potential to address long-standing challenges such as financial inclusion, payments efficiency, and payment system operational and cyber resilience. Including but not limited to CBDC, central banks are researching and experimenting with at least 10 specific use cases for blockchain and DLT, exploring where they can potentially unlock new possibilities and improve inefficient processes.
The Transformation Of Capital Markets By Way Of Digital Securities
On the institutional side of STO issuances, there was significant build-out of back-office functionality and overseas infrastructure. July saw the launch of 1X, a first-of-its-kind security token exchange based and regulated in Singapore.
It has a third party custodian solution (a significant issue for STOs), with ERC technology provided by ConsenSys. August saw the second issuance of a $33.8M Bond-i by the World Bank, this time with the Commonwealth Bank of Australia as the issuer and TD Securities and RBC Capital acting as managers.
In September, Santander issued a $20M tokenized bond transacted entirely on the Ethereum public network (CommBank's and Quorum’s were on private networks). September also saw Allinfra, another company partnered with ConsenSys, announce a collaboration with Asia’s largest REIT, called Link REIT.
Such notable financial industry interest is a strong signal going into 2020 and ultimately for the larger future for STO technology beyond Regulation D private placements.At the forefront of the digital securities revolution is Thomas Carter, a 30-year fintech innovator and CEO of DealBox, an innovative digital securities issuance and investment platform.
DealBox gives issuers and investors a savvy approach to being first-in-line to the digital securities opportunity.
Thomas On The Evolution Of Capital Markets:
"At the end of the ICO craze in 2018 what was apparent was that raising capital with digital tokens was efficient and viable. What also became apparent was that regulatory oversight was badly needed.
What we are seeing now is that the regulatory framework is evolved and the infrastructure is in place. For those who can see the perfect storm of indicators going into 2020, it's game on.”
More Writing On The Wall
Binance CEO Changpeng Zhao boldly claims that cryptocurrency will reach more users than the internet in a matter of years.
Current estimates suggest that 58 percent of the global population have access to the internet. That’s a total of 4.4 billion people with China, India, and the United States leading the pack.While exact cryptocurrency metrics are difficult to come by, recent estimates put global crypto usage at 139 million people. That’s a seven-fold increase in the two years since 2017, which puts crypto adoption on a rapid growth curve.
The Opportunity
Here’s where things get really interesting from an investor’s perspective. 2020 is indeed shaping up to be the tipping-point towards widespread adoption of blockchain/cryptocurrency.
From a global macro level the stage is set. One final problem needs to be solved - usability.
Market research shows that newcomers to the world of blockchain/cryptocurrency are intimidated by the technology.
Highly technical concepts such as addresses and public-private key encryption are not inherently intuitive and equate to a cumbersome cognitive load for most crypto-curious consumers.
Note, that addresses and public-private key encryption are in fact core conceptual requirements for using cryptocurrency in any capacity and as such comprise the onboarding gateway for the billions of new users forecasted to enter the market.
New users getting stuck at the front door on basic concepts is a huge problem for adoption. How do we solve that problem?
Within the vast ecosystem of blockchain/cryptocurrency products there is exactly one application that is the lynch-pin of the entire industry. It is the vehicle in which Bitcoin was first delivered to the market. It is the one application that everyone who intends to use cryptocurrency must have. That is of course, the digital wallet.
Focusing on simplicity and usability for a digital wallet designed for new cryptocurrency users seems to be a logical solution to the usability barrier to widespread adoption.
A pair of tech startups backed up by blockchain venture funding and security token issuance platformDealBoxhas joined forces to deliver the killer app for blockchain with production of what is being billed as...
The World’s Most User-Friendly Digital Wallet. BlendFi Pioneer.
DealBox issuers involved in the project include:
(TNS) Total Network Service
Gaining attention lately with it’s usability upgrade for cryptocurrency,Digital Names.
Digital Names is a cross-chain, DNS-like naming system that replaces the long cumbersome public key addresses used for transactions with easy-to-remember, human-readable names.
BlendFi
Headed up by former Mastercard and H&R Block CFO,Frank Cotroneo, BlendFi is a mobile-app based digital banking/multi-currency wallet with support for the top 16 cryptocurrencies, debit card services, mobile payments and includes groundbreaking biometric authentication technology.
BlendFi and TNS are the vanguard of a larger marketing campaign dubbed, “Make Crypto Easy” and is the brainchild of former Nike brand directorJerome Conlonand digital securities pioneer/CEO of DealBoxThomas Carter.
Digital Wallet Usability Reimagined
Core features of the soon to be released BlendFi wallet that make it the world’s most user-friendly digital wallet:
Simple Private Key
Current cryptocurrency wallet solutions require that users become familiar with public-private key encryption and take special precautions in safeguarding their wallet private keys.
BlendFi removes the hassle of manual private key management with an innovative multi-factor ID authentication platform provided by KNWN technologies. KNWN uses patent-pending AI-powered, IoT communication and biometric facial recognition, along with an optional unique PIN code to deliver three-factor authentication at unmatched speed and accuracy to support users during onboarding and everyday use of the wallet including wallet recovery in the event of a lost or stolen phone.
Simple Transactions
The integration of TNS’s Digital Names protocol provides BlendFi wallet users the ability to use a simple to remember, human-readable name in place of the standard long alphanumeric string of characters needed to send and receive cryptocurrency.
Simple Purchasing of Cryptocurrency
The BlendFi wallet includes full-scale digital banking that allows for easy conversion between a number of fiat currencies and the top 16 cryptocurrencies.
User Education
BlendFi wallet users will get access to free blockchain/cryptocurrency educational materials tailored to the non-technical.
DealBox CEO Thomas Carter On The Initiative:
“As true believers in the founding ethos of blockchain technology and proponents of the world changing technology it offers we recognize the immediate need for removing the usability barriers to widespread adoption and leading that effort with a better, easier-to-use wallet just makes sense.
Digital Names and BlendFi are natural complements to each other and I’m excited about the compounding of value over time that these two innovative companies will create for the market”
For more information on BlendFi, TNS and The Make Crypto Easy campaign please visit the following:
www.blendfi.comwww.digitalnames.io
www.makecryptoeasy.iowww.dlbx.io
Image by xresch from Pixabay
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See more from Benzinga
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© 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || A Look At Cryptocurrency In 2020: What began as a paradigm shift in the world of fintech taking place over the past decade has reached global critical mass and is evolving into a generational tectonic shift that in 2020 will begin to impact almost everyone on the planet. Some are calling it the 4th Industrial Revolution. It is a technological disruption that incorporates IoT and AI and enables the exchange of value and data in a mathematically immutable and trustless environment thereby eliminating middle-men and gatekeepers. This new technology is the blockchain. Bitcoin is certainly a flagship in this armada of disruptive innovation but recent momentum is being driven by more advanced and more evolved blockchain protocols. For the past few years pundits have been evangelizing the idea of “widespread adoption” of blockchain technology. Major enterprise and institutional players have been investing heavily in blockchain R&D and a robust global network of infrastructure has been built but far from being widespread, blockchain remains a niche technology. Why 2020 will be different, how you can benefit, and why one smartphone app will be at the center of the massive shift. Global Zeitgeist - Nation States And Central Banks China Probably the most striking example of state-sponsored interest in blockchain technology. In October, President Xi Jinpeng gave a speech saying China needs to “seize the opportunities” presented by blockchain, in what appeared to be one of the first instances of a major world leader backing the tech. Xi said blockchain is an “important breakthrough in independent innovation of core technologies.” “With President Xi’s backing blockchain, China has unequivocally said that the future foundation of technology is blockchain...” Jehan Chu, co-founder of Kenetic Capital, a trading and investment firm focused on digital assets, recently told CNBC. France France's central bank will next year launch a call for projects to develop a digital currency, as concern grows among EU governments over new currencies planned by Facebook and others. Story continues The initiative by the French central bank is the first such by a eurozone central bank, with the ultimate aim to develop a digital euro that would be based on blockchain technology. Germany On November 29, 2019, the German Parliament passed a bill which amends an existing anti-money laundering directive to allow German banks to both sell and store cryptocurrencies. The new law will take effect January 1, 2020, though certain requirements must first be met through the country’s financial regulator. Germany has also shown strong support for security tokens as well. This new form of raising capital leverages the benefits of blockchain technology — as seen in the popular Initial Coin Offering (ICO) — while declaring itself a securities offering. As such an offering, it is therefore subject to the stringent laws and regulations that come with fundraising. Ukraine According to Forklog, members of the Verkhovna Rada — Ukraine’s legislative arm, have adopted a new bill that incorporates international AML best practices into the country’s crypto regulatory framework. As part of the newly adopted legislation, cryptos are now classified as property in Ukraine. Thus, virtual currency owners can use their digital holdings as a medium of exchange allowing room for legalized trading, payments, investments, and transfers. Central Banks According to a January 2019 report by the Bank for International Settlements (BIS) in Basel, Switzerland, at least 40 central banks around the world are currently, or soon will be, researching and experimenting with central bank digital currency (CBDC). CBDC, a commonly proposed application of blockchain and distributed ledger technology (DLT), has attracted much interest within the central banking community for its potential to address long-standing challenges such as financial inclusion, payments efficiency, and payment system operational and cyber resilience. Including but not limited to CBDC, central banks are researching and experimenting with at least 10 specific use cases for blockchain and DLT, exploring where they can potentially unlock new possibilities and improve inefficient processes. The Transformation Of Capital Markets By Way Of Digital Securities On the institutional side of STO issuances, there was significant build-out of back-office functionality and overseas infrastructure. July saw the launch of 1X, a first-of-its-kind security token exchange based and regulated in Singapore. It has a third party custodian solution (a significant issue for STOs), with ERC technology provided by ConsenSys. August saw the second issuance of a $33.8M Bond-i by the World Bank, this time with the Commonwealth Bank of Australia as the issuer and TD Securities and RBC Capital acting as managers. In September, Santander issued a $20M tokenized bond transacted entirely on the Ethereum public network (CommBank's and Quorum’s were on private networks). September also saw Allinfra, another company partnered with ConsenSys, announce a collaboration with Asia’s largest REIT, called Link REIT. Such notable financial industry interest is a strong signal going into 2020 and ultimately for the larger future for STO technology beyond Regulation D private placements. At the forefront of the digital securities revolution is Thomas Carter, a 30-year fintech innovator and CEO of DealBox, an innovative digital securities issuance and investment platform. DealBox gives issuers and investors a savvy approach to being first-in-line to the digital securities opportunity. Thomas On The Evolution Of Capital Markets: "At the end of the ICO craze in 2018 what was apparent was that raising capital with digital tokens was efficient and viable. What also became apparent was that regulatory oversight was badly needed. What we are seeing now is that the regulatory framework is evolved and the infrastructure is in place. For those who can see the perfect storm of indicators going into 2020, it's game on.” More Writing On The Wall Binance CEO Changpeng Zhao boldly claims that cryptocurrency will reach more users than the internet in a matter of years. Current estimates suggest that 58 percent of the global population have access to the internet. That’s a total of 4.4 billion people with China, India, and the United States leading the pack. While exact cryptocurrency metrics are difficult to come by, recent estimates put global crypto usage at 139 million people. That’s a seven-fold increase in the two years since 2017, which puts crypto adoption on a rapid growth curve. The Opportunity Here’s where things get really interesting from an investor’s perspective. 2020 is indeed shaping up to be the tipping-point towards widespread adoption of blockchain/cryptocurrency. From a global macro level the stage is set. One final problem needs to be solved - usability. Market research shows that newcomers to the world of blockchain/cryptocurrency are intimidated by the technology. Highly technical concepts such as addresses and public-private key encryption are not inherently intuitive and equate to a cumbersome cognitive load for most crypto-curious consumers. Note, that addresses and public-private key encryption are in fact core conceptual requirements for using cryptocurrency in any capacity and as such comprise the onboarding gateway for the billions of new users forecasted to enter the market. New users getting stuck at the front door on basic concepts is a huge problem for adoption. How do we solve that problem? Within the vast ecosystem of blockchain/cryptocurrency products there is exactly one application that is the lynch-pin of the entire industry. It is the vehicle in which Bitcoin was first delivered to the market. It is the one application that everyone who intends to use cryptocurrency must have. That is of course, the digital wallet. Focusing on simplicity and usability for a digital wallet designed for new cryptocurrency users seems to be a logical solution to the usability barrier to widespread adoption. A pair of tech startups backed up by blockchain venture funding and security token issuance platform DealBox has joined forces to deliver the killer app for blockchain with production of what is being billed as... The World’s Most User-Friendly Digital Wallet. BlendFi Pioneer. image2.png DealBox issuers involved in the project include: (TNS) Total Network Service Gaining attention lately with it’s usability upgrade for cryptocurrency, Digital Names . Digital Names is a cross-chain, DNS-like naming system that replaces the long cumbersome public key addresses used for transactions with easy-to-remember, human-readable names. BlendFi Headed up by former Mastercard and H&R Block CFO, Frank Cotroneo , BlendFi is a mobile-app based digital banking/multi-currency wallet with support for the top 16 cryptocurrencies, debit card services, mobile payments and includes groundbreaking biometric authentication technology. BlendFi and TNS are the vanguard of a larger marketing campaign dubbed, “ Make Crypto Easy ” and is the brainchild of former Nike brand director Jerome Conlon and digital securities pioneer/CEO of DealBox Thomas Carter . Digital Wallet Usability Reimagined Core features of the soon to be released BlendFi wallet that make it the world’s most user-friendly digital wallet: Simple Private Key Current cryptocurrency wallet solutions require that users become familiar with public-private key encryption and take special precautions in safeguarding their wallet private keys. BlendFi removes the hassle of manual private key management with an innovative multi-factor ID authentication platform provided by KNWN technologies. KNWN uses patent-pending AI-powered, IoT communication and biometric facial recognition, along with an optional unique PIN code to deliver three-factor authentication at unmatched speed and accuracy to support users during onboarding and everyday use of the wallet including wallet recovery in the event of a lost or stolen phone. Simple Transactions The integration of TNS’s Digital Names protocol provides BlendFi wallet users the ability to use a simple to remember, human-readable name in place of the standard long alphanumeric string of characters needed to send and receive cryptocurrency. Simple Purchasing of Cryptocurrency The BlendFi wallet includes full-scale digital banking that allows for easy conversion between a number of fiat currencies and the top 16 cryptocurrencies. User Education BlendFi wallet users will get access to free blockchain/cryptocurrency educational materials tailored to the non-technical. DealBox CEO Thomas Carter On The Initiative: “As true believers in the founding ethos of blockchain technology and proponents of the world changing technology it offers we recognize the immediate need for removing the usability barriers to widespread adoption and leading that effort with a better, easier-to-use wallet just makes sense. Digital Names and BlendFi are natural complements to each other and I’m excited about the compounding of value over time that these two innovative companies will create for the market” For more information on BlendFi, TNS and The Make Crypto Easy campaign please visit the following: www.blendfi.com www.digitalnames.io www.makecryptoeasy.io www.dlbx.io Image by xresch from Pixabay 0 See more from Benzinga Josh Miller: "Crypto Is Valuable To The World Economy" Meet Chase Namic, Who Shares Insights On How To Make 0k On YouTube Gaige Keep: A Former Marine Sergeant-Turned-Marketing Guru Sheds Light On Building A Personal Brand © 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Bitcoin price springs to life, trading above $7,100: Bitcoin hodlers may get some holiday cheer yet. The number one cryptocurrency by market cap is now trading above $7,100 per coin, with the price of bitcoin having increased by nearly 4% in the last 12 hours. This represents a significant market shift compared to yesterday, when BTC hit a low of roughly $6,637. Its current price marks a jump of roughly $500. The coins volatile price movements continue, however, as Bitcoin hit a high of around $7,400 last night--a near 10 percent spike--before heading back down to its current trading position. Prior, Bitcoin dropped below the $7,000 price line earlier this week and proceeded to drag its feet over the next two days. Reasons for the crash vary, but according to blockchain tracking firm Chainalysis, some of the blame could be cast at the sell-offs surrounding PlusToken, an alleged Chinese Ponzi scheme that may have cheated investors out as much as $3 billion. Not everyone is buying the explanation, however, and Chainalysis itself admitted that it couldnt definitively say one way or the other in its report. Meanwhile, the rest of the market is in similarly uncertain shape: Ethereum is currently trading for $126 per token, a drop of about 5 percent, and Ripple continues its descent as well, now trading at $0.188 per coin. || Bitcoin price springs to life, trading above $7,100: Bitcoinhodlersmay get some holiday cheer yet.
The number onecryptocurrencyby market cap is now trading above $7,100 per coin, with the price of bitcoin having increased by nearly 4% in the last 12 hours.
This represents a significant market shift compared to yesterday,when BTC hit a lowof roughly $6,637. Its current price marks a jump of roughly $500.
The coin’s volatile price movements continue, however, as Bitcoin hit a high of around $7,400 last night--a near 10 percent spike--before heading back down to its current trading position.
Prior,Bitcoin dropped belowthe $7,000 price line earlier this week and proceeded to drag its feet over the next two days. Reasons for the crash vary, but according to blockchain tracking firm Chainalysis, some of the blame could be cast at the sell-offs surrounding PlusToken, analleged Chinese Ponzi schemethat may have cheated investors out as much as $3 billion.
Not everyone is buying the explanation, however, and Chainalysis itself admitted that it couldn’t definitively say one way or the other in its report.
Meanwhile, the rest of the market is in similarly uncertain shape: Ethereum is currently trading for $126 per token, a drop of about 5 percent, and Ripple continues its descent as well, now trading at $0.188 per coin. || Bitcoin price springs to life, trading above $7,100: Bitcoinhodlersmay get some holiday cheer yet.
The number onecryptocurrencyby market cap is now trading above $7,100 per coin, with the price of bitcoin having increased by nearly 4% in the last 12 hours.
This represents a significant market shift compared to yesterday,when BTC hit a lowof roughly $6,637. Its current price marks a jump of roughly $500.
The coin’s volatile price movements continue, however, as Bitcoin hit a high of around $7,400 last night--a near 10 percent spike--before heading back down to its current trading position.
Prior,Bitcoin dropped belowthe $7,000 price line earlier this week and proceeded to drag its feet over the next two days. Reasons for the crash vary, but according to blockchain tracking firm Chainalysis, some of the blame could be cast at the sell-offs surrounding PlusToken, analleged Chinese Ponzi schemethat may have cheated investors out as much as $3 billion.
Not everyone is buying the explanation, however, and Chainalysis itself admitted that it couldn’t definitively say one way or the other in its report.
Meanwhile, the rest of the market is in similarly uncertain shape: Ethereum is currently trading for $126 per token, a drop of about 5 percent, and Ripple continues its descent as well, now trading at $0.188 per coin. || Iran President: We Need a Muslim Cryptocurrency to Fight the US Dollar: Iranian President Hassan Rouhani says the Muslim world needs its own cryptocurrency to fight American economic domination in international trade and cut reliance on the dollar, AP reported . “The Muslim world should be designing measures to save themselves from the domination of the United States dollar and the American financial regime,” he said at the Kuala Lumpur Summit in Malaysia on Thursday. Iran has been hit with severe economic sanctions by the U.S. that limit how the nation’s financial institutions make investments abroad since the dollar is the most common currency in international transactions. Related: ‘TurboTax’ for Crypto: Accounting Firm Lukka Debuts Tax Tool for Retail Investors The Iranian government has been working on expanding the use of cryptocurrencies such as bitcoin to circumvent the U.S. sanctions. According to a September survey from Gate Trade, crypto has been one of the most popular investments among Iranians. More than a third of 1,650 Iranian investors surveyed earned from $500 to $3,000 by mining, while 58 percent earned income through trading. Most of the bitcoin holders are long-term investors who intend to hold the cryptocurrency for more than one year, according to the survey. At the summit, Rouhani also urged Muslim countries to set up a system to encourage trading in local currencies as well as to create preferential trade policies to strengthen linkage, according to the report. Related Stories Chinese City Warns Investors: Crypto Isn’t Blockchain German Bank Launches Digital Assets Unit to Offer Custody Products Global Protests Reveal Bitcoin’s Limitations || Iran President: We Need a Muslim Cryptocurrency to Fight the US Dollar: Iranian President Hassan Rouhani says the Muslim world needs its own cryptocurrency to fight American economic domination in international trade and cut reliance on the dollar, APreported.
“The Muslim world should be designing measures to save themselves from the domination of the United States dollar and the American financial regime,” he said at the Kuala Lumpur Summit in Malaysia on Thursday.
Iran has been hit with severe economic sanctions by the U.S. that limit how the nation’s financial institutions make investments abroad since the dollar is the most common currency in international transactions.
Related:‘TurboTax’ for Crypto: Accounting Firm Lukka Debuts Tax Tool for Retail Investors
The Iranian government has beenworkingon expanding the use of cryptocurrencies such as bitcoin to circumvent the U.S. sanctions.
According to a Septembersurveyfrom Gate Trade, crypto has been one of the most popular investments among Iranians. More than a third of 1,650 Iranian investors surveyed earned from $500 to $3,000 by mining, while 58 percent earned income through trading.
Most of the bitcoin holders are long-term investors who intend to hold the cryptocurrency for more than one year, according to the survey.
At the summit, Rouhani also urged Muslim countries to set up a system to encourage trading in local currencies as well as to create preferential trade policies to strengthen linkage, according to the report.
• Chinese City Warns Investors: Crypto Isn’t Blockchain
• German Bank Launches Digital Assets Unit to Offer Custody Products
• Global Protests Reveal Bitcoin’s Limitations || This isnt a dip, its a falling knife, says gold bug Peter Schiff: When the markets bleed and cryptocurrency enthusiasts recoil to lick their wounds, plenty of people prepare their victory dance. Among the long list of Bitcoin bashers is Euro Pacific Capital CEO and well-known gold bug Peter Schiff. Taking to social media platform Twitter yesterday, clearly rubbing his hands with glee at the bleeding markets, Schiff was quick to point out both Ether and XRPs catastrophic losses this year . He said: Earlier this year Ether, the #2 crypto by market cap was up over 150%, and now its down YTD. Ripple, the #3 crypto, has also give up its earlier gains and is now down over 50% YTD. Earlier this year Ether, the #2 crypto by market cap was up over 150%, and now it's down YTD. Ripple, the #3 crypto, has also give up its earlier gains and is now down over 50% YTD. There are still plenty of trading days left in the year for #Bitcoin to end 2019 with a loss! Peter Schiff (@PeterSchiff) December 18, 2019 He couldnt say the same about Bitcoin, though. Despite the bearish trend yesterday, BTC is still up well over 100% from the start of the year. Schiff didnt miss an opportunity to spread a little extra FUD however, saying: There are still plenty of trading days left in the year for #Bitcoin to end 2019 with a loss! Maybe so, but apparently the markets did not agree with him, with every major cryptocurrency in the green today including Ether and Ripples XRP. Bitcoin is also firmly back above $7,000 at the time of writing. Bitcoin outperformed every major asset this year While its true that the earlier summer highs of more than $13,000 were not to last, BTC has still outperformed all major asset classes this year, even as it hovers above $7,000. The number one cryptocurrencys YTD performance of ~140% as of November 2 still vastly outshines the Nasdaq 100 (28.93%) as well as top tech companies like IBM (19.23%) and Apple (62.8%) and commodities like oil (21.06%). Story continues 2019 Returns
Bitcoin: +142% Nasdaq 100 $QQQ : +30% REITs $VNQ : +30% S&P 500 $SPY : +24% Oil $USO : +21% Small Caps $IWM : +19% EAFE $EFA : +18% Gold $GLD : +18% Investment Grade $LQD : +16% High Yield $HYG : +12% EM $EEM : +11% US Bonds $AGG : +9% US Dollar $UUP : +4% Cash $BIL : +1.8% Charlie Bilello (@charliebilello) November 2, 2019 And how about Peter Schiff and his much-beloved gold? Bitcoin has torn strips off the precious metal this year. Arguably its main competitor as a safe-haven investment, gold has registered meagre gains of just 19.16% at the time of writing. None of this information appeared in Schiffs social outcry yesterday, of course, which naturally prompted a slew of comments from crypto supporters. Some pointed out the inaccuracies in his tweet, saying: Ripple is not a coin. #XRP is number 3. Shows how much you actually know about cryptos. While others were quick to remind him that even as BTC languished under $7,000, it was still up 100% compared to gold at not even 20%. One cheeky follower simply asked, When do we buy the dip?, to which Schiff fired back, This isnt a dip, its a falling knife. This isn't a dip. It's a falling knife. Peter Schiff (@PeterSchiff) December 18, 2019 A knife that appears to be rising once more. Featured image by Thanh Tran on Unsplash The post This isnt a dip, its a falling knife, says gold bug Peter Schiff appeared first on Coin Rivet . || This isnt a dip, its a falling knife, says gold bug Peter Schiff: When the markets bleed and cryptocurrency enthusiasts recoil to lick their wounds, plenty of people prepare their victory dance. Among the long list of Bitcoin bashers is Euro Pacific Capital CEO and well-known gold bug Peter Schiff. Taking to social media platform Twitter yesterday, clearly rubbing his hands with glee at the bleeding markets, Schiff was quick to point out both Ether and XRPs catastrophic losses this year . He said: Earlier this year Ether, the #2 crypto by market cap was up over 150%, and now its down YTD. Ripple, the #3 crypto, has also give up its earlier gains and is now down over 50% YTD. Earlier this year Ether, the #2 crypto by market cap was up over 150%, and now it's down YTD. Ripple, the #3 crypto, has also give up its earlier gains and is now down over 50% YTD. There are still plenty of trading days left in the year for #Bitcoin to end 2019 with a loss! Peter Schiff (@PeterSchiff) December 18, 2019 He couldnt say the same about Bitcoin, though. Despite the bearish trend yesterday, BTC is still up well over 100% from the start of the year. Schiff didnt miss an opportunity to spread a little extra FUD however, saying: There are still plenty of trading days left in the year for #Bitcoin to end 2019 with a loss! Maybe so, but apparently the markets did not agree with him, with every major cryptocurrency in the green today including Ether and Ripples XRP. Bitcoin is also firmly back above $7,000 at the time of writing. Bitcoin outperformed every major asset this year While its true that the earlier summer highs of more than $13,000 were not to last, BTC has still outperformed all major asset classes this year, even as it hovers above $7,000. The number one cryptocurrencys YTD performance of ~140% as of November 2 still vastly outshines the Nasdaq 100 (28.93%) as well as top tech companies like IBM (19.23%) and Apple (62.8%) and commodities like oil (21.06%). Story continues 2019 Returns
Bitcoin: +142% Nasdaq 100 $QQQ : +30% REITs $VNQ : +30% S&P 500 $SPY : +24% Oil $USO : +21% Small Caps $IWM : +19% EAFE $EFA : +18% Gold $GLD : +18% Investment Grade $LQD : +16% High Yield $HYG : +12% EM $EEM : +11% US Bonds $AGG : +9% US Dollar $UUP : +4% Cash $BIL : +1.8% Charlie Bilello (@charliebilello) November 2, 2019 And how about Peter Schiff and his much-beloved gold? Bitcoin has torn strips off the precious metal this year. Arguably its main competitor as a safe-haven investment, gold has registered meagre gains of just 19.16% at the time of writing. None of this information appeared in Schiffs social outcry yesterday, of course, which naturally prompted a slew of comments from crypto supporters. Some pointed out the inaccuracies in his tweet, saying: Ripple is not a coin. #XRP is number 3. Shows how much you actually know about cryptos. While others were quick to remind him that even as BTC languished under $7,000, it was still up 100% compared to gold at not even 20%. One cheeky follower simply asked, When do we buy the dip?, to which Schiff fired back, This isnt a dip, its a falling knife. This isn't a dip. It's a falling knife. Peter Schiff (@PeterSchiff) December 18, 2019 A knife that appears to be rising once more. Featured image by Thanh Tran on Unsplash The post This isnt a dip, its a falling knife, says gold bug Peter Schiff appeared first on Coin Rivet . || MARKETS DAILY: Bullish Bitcoin Dreams and a 2019 to Remember: With bitcoin first dipping, then spiking up 10% yesterday, we’re talking market action, new Federal Reserve comments, the challenges of exchange and taking a look at CoinDesk’s annual most influential list… No time to listen? Scroll down for the full episode transcript with links. More ways to Listen or Subscribe ( MP3 Download Here ) Related: ‘Stacking Sats’ vs. ‘ETH Is Money’ – The Memes That Shaped 2019 Crypto, Regulatory and Wall Street News Roundup DEX’s & CEX’s (Decentralized and Centralized Exchanges) with Sebastian Sinclair Our Most Influential People of 2019 Transcript : Adam B. Levine: On Today’s episode, it’s Bitcoin’s BIg Bounce, DEX’s and CEX’s, and a look at our Most Influential of 2019 list. Related: MARKETS DAILY: Crypto Bears Circle While Hackers Rethink Their Malware Strategy Adam B. Levine: It’s December 19, 2019 , and you’re listening to Markets Daily, I’m Adam B. Levine, editor of Podcasts here At Coindesk, along with our senior markets reporter, Brad Keoun, to give you a concise daily briefing on crypto markets and some of the most important news developments in the sector over the past 24 hours. Adam: We kick things off with Brad, who’s been watching the action in the overnights. (MARKET UPDATE) SEGMENT 1 Brad Keoun : December is often a key month in the bitcoin market – it was Dec 2017 when BTC reached its all-time-high of $20k, and it was in Dec of last year that the market bottomed at $3000. For the past couple weeks, bitcoin’s price charts have been sending bearish signals, with the market trending lower Piling on, Arcane Research of Norway wrote that the market was registering “extreme fear” But then on Wednesday, the price suddenly jumped more than $600 for a 10% gain, the most seen in two months Today, the bitcoin price appears to be down just a touch, currently around $7200 CoinDesk’s Omkar Godbole writes that Wednesday’s spike has neutralized the immediate bearish case, in terms of the signals from price charts, but bitcoin would have to jump another $770 to pass $7,780 to confirm the start of a bullish trend Story continues Adam: Turning to the news, there continues to be a stream of negative pronouncements about digital assets emanating from U.S. officials and regulators U.S. Federal Reserve Governor Lael Brainard warned Wednesday in a speech that the Facebook-led Libra project has a “core set of legal and regulatory challenges” ahead. She said more clarity is needed about the basket of currencies underlying the stablecoin and that its model is still unproven. And Internet startup Blockchain of Things Inc. (BCOT) agreed to pay $250,000 to settle with the U.S. Securities and Exchange Commission for launching an initial coin offering without registering the token as a security with the regulator. Brad: Even so, the traditional financial industry continues to show keen interest in blockchain technology Accounting multinational EY on Thursday released new code that it claims can reduces the cost of transacting on the ethereum blockchain by as much as 90 percent, by batching multiple transfers into a single transaction Adam: Depository Trust and Clearing Corporation, a key player in Wall Street’s clearing of bond trades, predicts digital assets will have a big year in 2020 Mike Bodson, the company’s CEO, says next year will be QUOTE dominated by the impact of geopolitical events, digitization and tokenized securities END-QUOTE And an executive with Fidelity, the money management giant, envisions a future where cryptocurrency custodians will work behind the scenes, whitelabeling services in the way that supermarkets put brands on generic food packaging Brad: Finally, CoinDesk reports that the privacy coin Monero’s lead maintainer is stepping down after five years at the helm Riccardo Spagni, better known by his alias “Fluffypony,” plans to continue his association with Monero but will turn the day-to-day leadership over to a longtime contributor to the community Spagni’s other business ventures include no fewer than three crypto startups, and he told CoinDesk more than a year ago that the monero leadership left him feeling exhausted Spagni says he’s making the change now to QUOTE better streamline developments and collaborations END QUOTE Adam: For today’s featured story, we’re joined again by CoinDesk’s Markets Reporter Sebestian Sinclair for a look into Centralized, and Decentralized exchange Sebastian Sinclair: Thanks Adam… For the first time in history, cryptocurrencies allow us to control our assets without having to rely on third parties such as banks or brokers. This has been achieved through blockchain technology, offering participants a way to tap into decentralized networks via peer to peer connections. However, despite this new tech, nearly 99 percent of crypto trading takes place on centralized exchanges, which seems at odds with the new era of digital money that should be utilizing blockchain’s trustless capabilities. Centralized exchanges have a lot of advantages, they’re fast, cheap and in some ways quite private. On the other hand, to get those benefits, traders must give their tokens TO the exchange, and trust that they’ll not only be honest, but resistant to the sectors notorious if not ubiquitous exchange thefts. It’s easy to see that even without downplaying the advantages, the disadvantages should give any trader pause. After all, mistrust in middlemen, ie banks, brokers and centralized exchanges, is essentially what led to the success of blockchain tech in the first place. History has shown us that placing our faith in these middlemen tends to be unwise and one consistently runs the risk of having funds stolen, such as what occurred this year as CoinDesk previously reported, up to 7 different exchange hacks valued at over $157 million US dollars were siphoned off. Adam: So what’s the solution then? Sebastian: Well, this is where decentralized exchanges come in. Decentralized exchanges can circumvent the issues of custody by building its infrastructure on the blockchain with the use of smart contracts to coordinate trades from a users’ own wallet. These smart contracts must be implemented correctly with appropriate withdrawal controls, but ultimately a decentralized exchange should never require a user to give up control of their assets. Adam: Decentralized exchanges must have a downside? Sebastian: Of course, decentralized exchanges face their own inherent problems. Blockchains are generally slow by nature, reducing the number of possible trades per second thereby limiting volume and liquidity. What’s more, decentralized exchanges generally result in unfriendly user interfaces that are based around block explorers such as etherscan making it difficult for new users in the space to pick up and understand right away. Adam: So what’s out there and what’s worth using? Sebastian: Well, Binance for example, opened its decentralized exchange to the public back in April this year while OKEx, another major exchange, announced plans way back in March, but still has plans in the works. From my research, most decentralized exchanges lack the liquidity and volume I previously mentioned. More work needs to be done to attract traders away from the centralized model to a decentralized one in order for them to function optimally and as intended. While the solutions to custody continue to be hashed out (pun intended) there are still a ways to go before users can begin experiencing the same user-friendly interactions, liquidity and volume they get from a centralized exchange. But we need to start looking into blockchain tech as a solution to these issues of centralized custody, otherwise, what are we all doing here? Adam: And now, for today’s spotlight, we’re giving you the rundown of what has become an annual CoinDesk tradition – the Most Influential people in the crypto industry of 2019 Brad: That’s right, Adam — we’re getting closer to the end of the year and that means it’s time for the Most Influential list , a project that’s led by CoinDesk Features Editor Ben Schiller but features some incredible profiles written by CoinDesk staffers The list highlights people who have had a big year, made significant contributions to the industry in 2019 or simply even been at the center of a big story. I picked a few of the most fascinating. Brad: First on the list is JACK DORSEY – Twitter’s co-founder , who emerged as bitcoin’s biggest ally in Silicon Valley. Dorsey invested heavily in the networks’ future, and says he hopes one day that the interent will have a native currency, and he hopes that will be bitcoin Next is Caitlin Long, a former Morgan Stanley banker who has established Wyoming as the most crypto-friendly jurisdiction in the nation. She’s helped pass a series of bills designed to attract crypto startups to her home state. Andrew Yang, the presidential candidate, came from nowhere to be a top-tier presidential candidate, with his brand of sophisticated tech-bro intelligence and ideas like basic universal income. More to the point, Yang is the only Democratic contender with a fleshed-out crypto policy, David Marcus – the French-born co-founder of Libra , the Facebook stablecoin project, became the face of the effort as he went to Washington to testify in high-profile hearings, where he experienced backlash from lawmakers and U.S. regulators. With big corporate partners like Mastercard peeling away from the effort earlier this year, the big question is whether he can convince Americans to trust Facebook with the future of money Meltem Demirors, chief strategy officer at CoinShares , testified in Washington in July that while Facebook’s Libra was getting all the attention, it was bitcoin that should be getting the attention, with its track record of more than a decade, saying that the world’s largest and oldest cryptocurrency had already been tested Ted Livingston – founder of the messaging app Kik Interactive , which was accused by the SEC of running an illegal securities offering when it sold digital tokens in 2017. He’s attracted notoriety and attention, along with some support from the crypto industry, for pushing back against the regulator Gerald Cotten, former CEO of the now-defunct QuadrigaCX exchange , wasn’t even alive during 2019, if you believe his death report out of India from December 2018, but he was at the center of controversy from creditors who say he might not have actually died, and they’re now asking for his body to be exhumed But wait, there’s meow. The last on the list is Hodlonaut, who publicly is a cat in an astronaut costume who emerged on Crypto Twitter as a folk hero representing the freedom to speak the truth and maintain one’s own privacy, challenging, among others, Bitcoin SV backer Craig Wright, who claims to be Satoshi Nakamoto, the creator of bitcoin. Hodlonaut became one of the biggest memes of the year in the crypto industry. In reality, CoinDesk reports, he’s a mild-mannered, middle-aged man from Norway who loves tattoos, ice cream, and tucking his child into bed. Related Stories The Productization of Bitcoin Maximalism MARKETS DAILY: Another Chainalysis Bombshell, Plus a Long Squeeze? || MARKETS DAILY: Bullish Bitcoin Dreams and a 2019 to Remember: With bitcoin first dipping, then spiking up 10% yesterday, we’re talking market action, new Federal Reserve comments, the challenges of exchange and taking a look at CoinDesk’s annual most influential list…
No time to listen? Scroll down for the full episode transcript with links.
More ways to Listen or Subscribe(MP3 Download Here)
Related:‘Stacking Sats’ vs. ‘ETH Is Money’ – The Memes That Shaped 2019
• Crypto, Regulatory and Wall Street News Roundup
• DEX’s & CEX’s (Decentralized and Centralized Exchanges) with Sebastian Sinclair
• OurMost Influential People of 2019
Transcript:
Adam B. Levine:
On Today’s episode, it’s Bitcoin’s BIg Bounce, DEX’s and CEX’s, and a look at our Most Influential of 2019 list.
Related:MARKETS DAILY: Crypto Bears Circle While Hackers Rethink Their Malware Strategy
Adam B. Levine:It’sDecember 19, 2019, and you’re listening to Markets Daily, I’m Adam B. Levine, editor of Podcasts here At Coindesk, along with our senior markets reporter, Brad Keoun, to give you a concise daily briefing on crypto markets and some of the most important news developments in the sector over the past 24 hours.
Adam:We kick things off with Brad, who’s been watching the action in the overnights.
(MARKET UPDATE) SEGMENT 1
BradKeoun: December is often a key month in the bitcoin market – it was Dec 2017 when BTC reached its all-time-high of $20k, and it was in Dec of last year that the market bottomed at $3000.
For the past couple weeks, bitcoin’s price charts have been sending bearish signals, with the market trending lower
Piling on, Arcane Research of Norway wrote that the market was registering “extreme fear”
But then on Wednesday, the price suddenly jumped more than $600 for a 10% gain, the most seen in two months
Today, the bitcoin price appears to be down just a touch, currently around $7200
CoinDesk’s Omkar Godbole writes that Wednesday’s spike has neutralized the immediate bearish case, in terms of the signals from price charts, but bitcoin would have to jump another $770 to pass $7,780 to confirm the start of a bullish trend
Adam:Turning to the news, there continues to be a stream of negative pronouncements about digital assets emanating from U.S. officials and regulators
U.S. Federal Reserve Governor Lael Brainard warned Wednesday in a speech that the Facebook-led Libra project has a “core set of legal and regulatory challenges” ahead.
She said more clarity is needed about the basket of currencies underlying the stablecoin and that its model is still unproven.
And Internet startup Blockchain of Things Inc. (BCOT) agreed to pay $250,000 to settle with the U.S. Securities and Exchange Commission for launching an initial coin offering without registering the token as a security with the regulator.
Brad:Even so, the traditional financial industry continues to show keen interest in blockchain technology
Accounting multinational EY on Thursday released new code that it claims can reduces the cost of transacting on the ethereum blockchain by as much as 90 percent, by batching multiple transfers into a single transaction
Adam:Depository Trust and Clearing Corporation, a key player in Wall Street’s clearing of bond trades, predicts digital assets will have a big year in 2020
Mike Bodson, the company’s CEO, says next year will be QUOTE dominated by the impact of geopolitical events, digitization and tokenized securities END-QUOTE
And an executive with Fidelity, the money management giant, envisions a future where cryptocurrency custodians will work behind the scenes, whitelabeling services in the way that supermarkets put brands on generic food packaging
Brad:Finally, CoinDesk reports that the privacy coin Monero’s lead maintainer is stepping down after five years at the helm
Riccardo Spagni, better known by his alias “Fluffypony,” plans to continue his association with Monero but will turn the day-to-day leadership over to a longtime contributor to the community
Spagni’s other business ventures include no fewer than three crypto startups, and he told CoinDesk more than a year ago that the monero leadership left him feeling exhausted
Spagni says he’s making the change now to QUOTE better streamline developments and collaborations END QUOTE
Adam:For today’s featured story, we’re joined again by CoinDesk’s Markets Reporter Sebestian Sinclair for a look into Centralized, and Decentralized exchange
Sebastian Sinclair:Thanks Adam…
For the first time in history, cryptocurrencies allow us to control our assets without having to rely on third parties such as banks or brokers.
This has been achieved through blockchain technology, offering participants a way to tap into decentralized networks via peer to peer connections.
However, despite this new tech, nearly 99 percent of crypto trading takes place on centralized exchanges, which seems at odds with the new era of digital money that should be utilizing blockchain’s trustless capabilities.
Centralized exchanges have a lot of advantages, they’re fast, cheap and in some ways quite private. On the other hand, to get those benefits, traders must give their tokens TO the exchange, and trust that they’ll not only be honest, but resistant to the sectors notorious if not ubiquitous exchange thefts.
It’s easy to see that even without downplaying the advantages, the disadvantages should give any trader pause.
After all, mistrust in middlemen, ie banks, brokers and centralized exchanges, is essentially what led to the success of blockchain tech in the first place.
History has shown us that placing our faith in these middlemen tends to be unwise and one consistently runs the risk of having funds stolen, such as what occurred this year as CoinDesk previously reported, up to 7 different exchange hacks valued at over $157 million US dollars were siphoned off.
Adam:So what’s the solution then?
Sebastian:Well, this is where decentralized exchanges come in.
Decentralized exchanges can circumvent the issues of custody by building its infrastructure on the blockchain with the use of smart contracts to coordinate trades from a users’ own wallet. These smart contracts must be implemented correctly with appropriate withdrawal controls, but ultimately a decentralized exchange should never require a user to give up control of their assets.
Adam:Decentralized exchanges must have a downside?
Sebastian:Of course, decentralized exchanges face their own inherent problems. Blockchains are generally slow by nature, reducing the number of possible trades per second thereby limiting volume and liquidity. What’s more, decentralized exchanges generally result in unfriendly user interfaces that are based around block explorers such as etherscan making it difficult for new users in the space to pick up and understand right away.
Adam:So what’s out there and what’s worth using?
Sebastian:Well, Binance for example, opened its decentralized exchange to the public back in April this year while OKEx, another major exchange, announced plans way back in March, but still has plans in the works. From my research, most decentralized exchanges lack the liquidity and volume I previously mentioned. More work needs to be done to attract traders away from the centralized model to a decentralized one in order for them to function optimally and as intended.
While the solutions to custody continue to be hashed out (pun intended) there are still a ways to go before users can begin experiencing the same user-friendly interactions, liquidity and volume they get from a centralized exchange. But we need to start looking into blockchain tech as a solution to these issues of centralized custody, otherwise, what are we all doing here?
Adam:And now, for today’s spotlight, we’re giving you the rundown of what has become an annual CoinDesk tradition – the Most Influential people in the crypto industry of 2019
Brad:That’s right, Adam — we’re getting closer to the end of the year and that means it’s time for theMost Influential list, a project that’s led by CoinDesk Features Editor Ben Schiller but features some incredible profiles written by CoinDesk staffers
The list highlights people who have had a big year, made significant contributions to the industry in 2019 or simply even been at the center of a big story. I picked a few of the most fascinating.
Brad:First on the list isJACK DORSEY – Twitter’s co-founder, who emerged as bitcoin’s biggest ally in Silicon Valley. Dorsey invested heavily in the networks’ future, and says he hopes one day that the interent will have a native currency, and he hopes that will be bitcoin
Next isCaitlin Long, a former Morgan Stanley bankerwho has established Wyoming as the most crypto-friendly jurisdiction in the nation. She’s helped pass a series of bills designed to attract crypto startups to her home state.
Andrew Yang, the presidential candidate,came from nowhere to be a top-tier presidential candidate, with his brand of sophisticated tech-bro intelligence and ideas like basic universal income. More to the point, Yang is the only Democratic contender with a fleshed-out crypto policy,
David Marcus – the French-born co-founder of Libra, the Facebook stablecoin project, became the face of the effort as he went to Washington to testify in high-profile hearings, where he experienced backlash from lawmakers and U.S. regulators. With big corporate partners like Mastercard peeling away from the effort earlier this year, the big question is whether he can convince Americans to trust Facebook with the future of money
Meltem Demirors, chief strategy officer at CoinShares, testified in Washington in July that while Facebook’s Libra was getting all the attention, it was bitcoin that should be getting the attention, with its track record of more than a decade, saying that the world’s largest and oldest cryptocurrency had already been tested
Ted Livingston – founder of the messaging app Kik Interactive, which was accused by the SEC of running an illegal securities offering when it sold digital tokens in 2017. He’s attracted notoriety and attention, along with some support from the crypto industry, for pushing back against the regulator
Gerald Cotten, former CEO of the now-defunct QuadrigaCX exchange, wasn’t even alive during 2019, if you believe his death report out of India from December 2018, but he was at the center of controversy from creditors who say he might not have actually died, and they’re now asking for his body to be exhumed
But wait, there’s meow. The last on the list isHodlonaut, who publicly is a cat in an astronaut costume who emerged on Crypto Twitter as a folk herorepresenting the freedom to speak the truth and maintain one’s own privacy, challenging, among others, Bitcoin SV backer Craig Wright, who claims to be Satoshi Nakamoto, the creator of bitcoin. Hodlonaut became one of the biggest memes of the year in the crypto industry. In reality, CoinDesk reports, he’s a mild-mannered, middle-aged man from Norway who loves tattoos, ice cream, and tucking his child into bed.
• The Productization of Bitcoin Maximalism
• MARKETS DAILY: Another Chainalysis Bombshell, Plus a Long Squeeze? || MARKETS DAILY: Bullish Bitcoin Dreams and a 2019 to Remember: With bitcoin first dipping, then spiking up 10% yesterday, we’re talking market action, new Federal Reserve comments, the challenges of exchange and taking a look at CoinDesk’s annual most influential list…
No time to listen? Scroll down for the full episode transcript with links.
More ways to Listen or Subscribe(MP3 Download Here)
Related:‘Stacking Sats’ vs. ‘ETH Is Money’ – The Memes That Shaped 2019
• Crypto, Regulatory and Wall Street News Roundup
• DEX’s & CEX’s (Decentralized and Centralized Exchanges) with Sebastian Sinclair
• OurMost Influential People of 2019
Transcript:
Adam B. Levine:
On Today’s episode, it’s Bitcoin’s BIg Bounce, DEX’s and CEX’s, and a look at our Most Influential of 2019 list.
Related:MARKETS DAILY: Crypto Bears Circle While Hackers Rethink Their Malware Strategy
Adam B. Levine:It’sDecember 19, 2019, and you’re listening to Markets Daily, I’m Adam B. Levine, editor of Podcasts here At Coindesk, along with our senior markets reporter, Brad Keoun, to give you a concise daily briefing on crypto markets and some of the most important news developments in the sector over the past 24 hours.
Adam:We kick things off with Brad, who’s been watching the action in the overnights.
(MARKET UPDATE) SEGMENT 1
BradKeoun: December is often a key month in the bitcoin market – it was Dec 2017 when BTC reached its all-time-high of $20k, and it was in Dec of last year that the market bottomed at $3000.
For the past couple weeks, bitcoin’s price charts have been sending bearish signals, with the market trending lower
Piling on, Arcane Research of Norway wrote that the market was registering “extreme fear”
But then on Wednesday, the price suddenly jumped more than $600 for a 10% gain, the most seen in two months
Today, the bitcoin price appears to be down just a touch, currently around $7200
CoinDesk’s Omkar Godbole writes that Wednesday’s spike has neutralized the immediate bearish case, in terms of the signals from price charts, but bitcoin would have to jump another $770 to pass $7,780 to confirm the start of a bullish trend
Adam:Turning to the news, there continues to be a stream of negative pronouncements about digital assets emanating from U.S. officials and regulators
U.S. Federal Reserve Governor Lael Brainard warned Wednesday in a speech that the Facebook-led Libra project has a “core set of legal and regulatory challenges” ahead.
She said more clarity is needed about the basket of currencies underlying the stablecoin and that its model is still unproven.
And Internet startup Blockchain of Things Inc. (BCOT) agreed to pay $250,000 to settle with the U.S. Securities and Exchange Commission for launching an initial coin offering without registering the token as a security with the regulator.
Brad:Even so, the traditional financial industry continues to show keen interest in blockchain technology
Accounting multinational EY on Thursday released new code that it claims can reduces the cost of transacting on the ethereum blockchain by as much as 90 percent, by batching multiple transfers into a single transaction
Adam:Depository Trust and Clearing Corporation, a key player in Wall Street’s clearing of bond trades, predicts digital assets will have a big year in 2020
Mike Bodson, the company’s CEO, says next year will be QUOTE dominated by the impact of geopolitical events, digitization and tokenized securities END-QUOTE
And an executive with Fidelity, the money management giant, envisions a future where cryptocurrency custodians will work behind the scenes, whitelabeling services in the way that supermarkets put brands on generic food packaging
Brad:Finally, CoinDesk reports that the privacy coin Monero’s lead maintainer is stepping down after five years at the helm
Riccardo Spagni, better known by his alias “Fluffypony,” plans to continue his association with Monero but will turn the day-to-day leadership over to a longtime contributor to the community
Spagni’s other business ventures include no fewer than three crypto startups, and he told CoinDesk more than a year ago that the monero leadership left him feeling exhausted
Spagni says he’s making the change now to QUOTE better streamline developments and collaborations END QUOTE
Adam:For today’s featured story, we’re joined again by CoinDesk’s Markets Reporter Sebestian Sinclair for a look into Centralized, and Decentralized exchange
Sebastian Sinclair:Thanks Adam…
For the first time in history, cryptocurrencies allow us to control our assets without having to rely on third parties such as banks or brokers.
This has been achieved through blockchain technology, offering participants a way to tap into decentralized networks via peer to peer connections.
However, despite this new tech, nearly 99 percent of crypto trading takes place on centralized exchanges, which seems at odds with the new era of digital money that should be utilizing blockchain’s trustless capabilities.
Centralized exchanges have a lot of advantages, they’re fast, cheap and in some ways quite private. On the other hand, to get those benefits, traders must give their tokens TO the exchange, and trust that they’ll not only be honest, but resistant to the sectors notorious if not ubiquitous exchange thefts.
It’s easy to see that even without downplaying the advantages, the disadvantages should give any trader pause.
After all, mistrust in middlemen, ie banks, brokers and centralized exchanges, is essentially what led to the success of blockchain tech in the first place.
History has shown us that placing our faith in these middlemen tends to be unwise and one consistently runs the risk of having funds stolen, such as what occurred this year as CoinDesk previously reported, up to 7 different exchange hacks valued at over $157 million US dollars were siphoned off.
Adam:So what’s the solution then?
Sebastian:Well, this is where decentralized exchanges come in.
Decentralized exchanges can circumvent the issues of custody by building its infrastructure on the blockchain with the use of smart contracts to coordinate trades from a users’ own wallet. These smart contracts must be implemented correctly with appropriate withdrawal controls, but ultimately a decentralized exchange should never require a user to give up control of their assets.
Adam:Decentralized exchanges must have a downside?
Sebastian:Of course, decentralized exchanges face their own inherent problems. Blockchains are generally slow by nature, reducing the number of possible trades per second thereby limiting volume and liquidity. What’s more, decentralized exchanges generally result in unfriendly user interfaces that are based around block explorers such as etherscan making it difficult for new users in the space to pick up and understand right away.
Adam:So what’s out there and what’s worth using?
Sebastian:Well, Binance for example, opened its decentralized exchange to the public back in April this year while OKEx, another major exchange, announced plans way back in March, but still has plans in the works. From my research, most decentralized exchanges lack the liquidity and volume I previously mentioned. More work needs to be done to attract traders away from the centralized model to a decentralized one in order for them to function optimally and as intended.
While the solutions to custody continue to be hashed out (pun intended) there are still a ways to go before users can begin experiencing the same user-friendly interactions, liquidity and volume they get from a centralized exchange. But we need to start looking into blockchain tech as a solution to these issues of centralized custody, otherwise, what are we all doing here?
Adam:And now, for today’s spotlight, we’re giving you the rundown of what has become an annual CoinDesk tradition – the Most Influential people in the crypto industry of 2019
Brad:That’s right, Adam — we’re getting closer to the end of the year and that means it’s time for theMost Influential list, a project that’s led by CoinDesk Features Editor Ben Schiller but features some incredible profiles written by CoinDesk staffers
The list highlights people who have had a big year, made significant contributions to the industry in 2019 or simply even been at the center of a big story. I picked a few of the most fascinating.
Brad:First on the list isJACK DORSEY – Twitter’s co-founder, who emerged as bitcoin’s biggest ally in Silicon Valley. Dorsey invested heavily in the networks’ future, and says he hopes one day that the interent will have a native currency, and he hopes that will be bitcoin
Next isCaitlin Long, a former Morgan Stanley bankerwho has established Wyoming as the most crypto-friendly jurisdiction in the nation. She’s helped pass a series of bills designed to attract crypto startups to her home state.
Andrew Yang, the presidential candidate,came from nowhere to be a top-tier presidential candidate, with his brand of sophisticated tech-bro intelligence and ideas like basic universal income. More to the point, Yang is the only Democratic contender with a fleshed-out crypto policy,
David Marcus – the French-born co-founder of Libra, the Facebook stablecoin project, became the face of the effort as he went to Washington to testify in high-profile hearings, where he experienced backlash from lawmakers and U.S. regulators. With big corporate partners like Mastercard peeling away from the effort earlier this year, the big question is whether he can convince Americans to trust Facebook with the future of money
Meltem Demirors, chief strategy officer at CoinShares, testified in Washington in July that while Facebook’s Libra was getting all the attention, it was bitcoin that should be getting the attention, with its track record of more than a decade, saying that the world’s largest and oldest cryptocurrency had already been tested
Ted Livingston – founder of the messaging app Kik Interactive, which was accused by the SEC of running an illegal securities offering when it sold digital tokens in 2017. He’s attracted notoriety and attention, along with some support from the crypto industry, for pushing back against the regulator
Gerald Cotten, former CEO of the now-defunct QuadrigaCX exchange, wasn’t even alive during 2019, if you believe his death report out of India from December 2018, but he was at the center of controversy from creditors who say he might not have actually died, and they’re now asking for his body to be exhumed
But wait, there’s meow. The last on the list isHodlonaut, who publicly is a cat in an astronaut costume who emerged on Crypto Twitter as a folk herorepresenting the freedom to speak the truth and maintain one’s own privacy, challenging, among others, Bitcoin SV backer Craig Wright, who claims to be Satoshi Nakamoto, the creator of bitcoin. Hodlonaut became one of the biggest memes of the year in the crypto industry. In reality, CoinDesk reports, he’s a mild-mannered, middle-aged man from Norway who loves tattoos, ice cream, and tucking his child into bed.
• The Productization of Bitcoin Maximalism
• MARKETS DAILY: Another Chainalysis Bombshell, Plus a Long Squeeze? || Craig Wright claims Blockstream hacked him to undermine Kleiman case: Controversial Bitcoin SV founder Craig Wright has claimed that blockchain company Blockstream attempted to undermine his ongoing case with Dave Kleiman’s estate. The 49-year-old made the allegations in a Joint Discovery Memorandum filed on Wednesday. The filing requests access to communications between early Bitcoin developers including Kleiman’s brother, Ira, as well as members of Blockstream, Bitcoin Core, and some BTC mining pools. The allegations state that the mentioned parties hacked Wright’s electronic devices and created the backdated documents being used as evidence in the case. “OMFG. # Faketoshi actually demanded all communications between Ira Kleiman and Blockstream so he could check if we were involved in hacking him and making all the Satoshi forgeries. I couldn’t make this up if I tried,” wrote Blockstream CSO Samson Mow on Thursday. OMFG. #Faketoshi actually demanded all communications between Ira Kleiman and Blockstream so he could check if we were involved in hacking him and making all the Satoshi forgeries. I couldn't make this up if I tried. 😂 https://t.co/kvOWnpnA6Y — Samson Mow (@Excellion) December 19, 2019 It’s worth noting that Wright alleges the hacking to have taken place during the early days of Bitcoin’s development, although Blockstream wasn’t founded until 2014 – five years after the inception of Bitcoin. The plaintiff has argued that the request from Wright is irrelevant and that it is a way of gathering intelligence. The plaintiff also states that Wright has presented no evidence of a hack. Coin Rivet interviewed Craig Wright earlier this year, with the contentious figure making sweeping allegations against Binance CEO Changpeng Zhao, calling him a “money launderer” . For more news, guides, and cryptocurrency analysis, click here . The post Craig Wright claims Blockstream hacked him to undermine Kleiman case appeared first on Coin Rivet . || Craig Wright claims Blockstream hacked him to undermine Kleiman case: Controversial Bitcoin SV founder Craig Wright has claimed that blockchain company Blockstream attempted to undermine his ongoing case with Dave Kleiman’s estate. The 49-year-old made the allegations in a Joint Discovery Memorandum filed on Wednesday. The filing requests access to communications between early Bitcoin developers including Kleiman’s brother, Ira, as well as members of Blockstream, Bitcoin Core, and some BTC mining pools. The allegations state that the mentioned parties hacked Wright’s electronic devices and created the backdated documents being used as evidence in the case. “OMFG. # Faketoshi actually demanded all communications between Ira Kleiman and Blockstream so he could check if we were involved in hacking him and making all the Satoshi forgeries. I couldn’t make this up if I tried,” wrote Blockstream CSO Samson Mow on Thursday. OMFG. #Faketoshi actually demanded all communications between Ira Kleiman and Blockstream so he could check if we were involved in hacking him and making all the Satoshi forgeries. I couldn't make this up if I tried. 😂 https://t.co/kvOWnpnA6Y — Samson Mow (@Excellion) December 19, 2019 It’s worth noting that Wright alleges the hacking to have taken place during the early days of Bitcoin’s development, although Blockstream wasn’t founded until 2014 – five years after the inception of Bitcoin. The plaintiff has argued that the request from Wright is irrelevant and that it is a way of gathering intelligence. The plaintiff also states that Wright has presented no evidence of a hack. Coin Rivet interviewed Craig Wright earlier this year, with the contentious figure making sweeping allegations against Binance CEO Changpeng Zhao, calling him a “money launderer” . For more news, guides, and cryptocurrency analysis, click here . The post Craig Wright claims Blockstream hacked him to undermine Kleiman case appeared first on Coin Rivet . || Is Blockchain the Shot in the Arm Healthcare Needs?: This post is part of CoinDesk’s 2019 Year in Review, a collection of 100 op-eds, interviews and takes on the state of blockchain and the world. Dr. Alex Cahana is head of healthcare and blockchain consulting at Genesis Block. At the end of 2018, while awakening from the Crypto Winter, a group of noted healthcare professionals led by Mayo Clinic’s John Halamka predicted that 2019 would be a pivotal year for blockchain in the healthcare industry. They said blockchain would become an essential part of consent management, improve remittances and enhance the monetization of personal data. It would tokenize non-cash assets, like patient outcomes, as an incentive to improve health. How much of this agenda was actually realized? The answer is some, but not all. We have seen blockchain deployments in supply chains and for physician credentialing, but not yet implemented as an architecture of electronic health records intended to transform them into self-sovereign, patient-driven digital assets. Related: Mind-Bending Narrative Shifts in 2019 Why is that, or more fundamentally, why use blockchain in healthcare at all? Healthcare is problematic all over the world. From a patient point of view, healthcare is not always readily accessible and in many cases too expensive . From a healthcare professional’s perspective, there is too much paperwork . For hospital executives, unchecked job growth rate has not translated into better patient outcomes. The future of pharma and digital therapies is fraught with uncertainty . And even insurance brokers have experienced reduced or eliminated commissions on the sale of individual health plans. At least, we can all agree that the healthcare ecosystem is a multi-stakeholder, mal-aligned, friction-full, opaque, heavily-regulated, lacking-of-trust, data-rich environment. From there, we can agree on the need for new responses and approaches, including the use of blockchain. It turns out that blockchain-based platforms are ideal for dealing with the characteristics that plague healthcare. Story continues Robert Miller, of ConsenSys Health , produced an excellent report this summer summarizing major trends in the blockchain health space. These include the formation of major new business networks around healthcare use-cases, greater VC funding, and as already mentioned, the use of blockchain for credentialing. Related: The Year of the Patient Builder and the Persistent Bully This year, half a dozen consortias (like IBM’s Health Utility Network [ HUN ], Coalesce Health Alliance and MELLODY ) announced projects to exchange healthcare and life science data on using permissioned distributed ledgers. That’s a big deal. Together, these consortia touch the lives of millions of customers (HUN covers 80 million beneficiaries) in a multi-billion dollar market (MELLODY includes pharma companies with a collective value of more than $300 billion). Venture capital flows have actually slowed, reaching $25M in VC funding this year ($16M of them for Chronicled ). This amount is still lower than the $100M-plus raised in 2018 and represents a ridiculously miniscule fraction of the $6B VC funding for non-blockchain digital health projects. As for STOs , the nearly $1B raise in 124 deals included only seven healthcare projects (like Healthbank , Healthereum , Verseon and Agenus ), with no significant reported raises. Supply chain applications and physician credentialing are the most common use-cases in healthcare blockchain. The Drug Supply Chain Security Act ( DSCSA ) of 2013, which mandated the creation of an electronic, interoperable system that can trace and identify distributed prescription drugs, catalyzed the development of a few large scale blockchain-based platforms (like IDLogiq , MediLedger , Rymedi and TraceLink ). As for physician credentialing, we’ve seen a multitude of DLT credentialing solutions emerge (like ProCredX developed by HashedHealth, Blockcerts used by the Federation of State Medical Boards , IntivaHealth that maintains records for continuing education and Truu , used by the UK National Health System). But currently these solutions (except Truu) are exclusively business-to-business and do not address the problem of physician identity or improve professional mobility. So what can we expect in 2020? As Nikhil Krishnan correctly predicted in his CB Insight report, the growing blockchain and healthcare landscape (48% CAGR till 2027) is currently dominated by closed consortia, where patient data is minimally used, under strict HIPPA or GDPR regulation. The idea that personal health information in the hands of patients are part of an immutable, master health record has been implemented in Estonia . But it looks like US adoption will be impeded due to a lack of political, regulatory and social appetite to change healthcare from a centralized, corporate, for-profit system into a self-sovereign, decentralized, doctor-patient-driven one. Whether 2020 will be an incremental or transformational year depends on three factors in my opinion. First, will we educate healthcare professionals by using a better, refined language? Already we shy away from using the words “ crypto ” and “blockchain,” associated with hacking and greed (thank you Mt. Gox and ICOs) and use the term DLT. But if we really want to recruit the public, we also need to talk about re-intermediation instead of disintermediation, coopetition (collaborative competition) instead of competition and distinguish between a sustainable “open” market (open to producers) vs. a non-sustainable “free” market, that includes also non- and counter-producers that manipulate and destroy the market (for details, read about Radical Markets here ). In other words, the story shouldn’t be about technology, but what technology can achieve for healthcare and its stakeholders. Second, will we start to explain why we should use blockchain and stop just describing it? Yes, for blockchain to work it must be, as Toufi Saliba, CEO of the TODA Network says: SECSI (Secure, Efficient, Confidential, Scalable, Interoperable). But doctors don’t care that blockchain is a ledger and are not interested in explanations about PoS, PoW, sharding and DAGs. Healthcare professionals need to understand that the “secret sauce” behind using Blockchain in their practice is that their relationship with patients has an inherent value. By promoting patient health, doctors actually engage in a peer-to-peer economic activity and can reward patients and be rewarded for healthy behaviour. Patient outcome is thus an invested asset (store of value) that can be traded not only by companies (Google, FitBit, 23andMe and ZocDoc) but also by patients and professionals themselves. And third, the 2020 US election outcome. As institutional trust erodes (think government, certain media outlets, Facebook), distributed trust has emerged as an attack-, collusion- and censorship- resistant model to procure, curate, store, manage and analyze data and information. But the public doesn’t understand the difference between universal access to healthcare, which is enhanced when using a distributed, decentralized economic model, and Medicare-for-All (or Amazon-for-All) which is a centralized, friction-full monopsonistic system. Resolving this confusion will be important for blockchain’s future prospects in the healthcare space. As healthcare remains the top issue on voters’ minds this year, the country remains evenly split on whether we should have a very centralized system (Medicare-for-all), a somewhat centralized one (ACA or “Obamacare) or state-based “distributed” (but not decentralized) healthcare. I doubt DLT will be horizontally integrated this year or leveraged as a tool to transform healthcare’s business model and looking ahead to 2020, that future seems some way off given the largely centralized, corporate, for-profit healthcare system in the United States. Nonetheless healthcare provides a very strong, if not perfect use-case for blockchain software solutions. It uses a shared repository (EHRs) with multiple writers (doctors, nurses, staff) and it has transaction dependencies (adherence to treatment plans, payments, regulations) with multiple intermediaries (professionals, patients, payors, regulators) that have no or minimal trust between them. Blockchain is poised to remedy many of these shortcomings. Finally, instead of pointing out what blockchain is missing , or fret that its purpose is unclear and changing , or hedge on what blockchain will become , let us state clearly what blockchain does . It is an attack, collusion and censorship-resistant solution that facilitates peer-to-peer economic activity. And in a world that suffers from a fear of fake products (fake posts, fake news and fake data), the role of DLT as solving the problem of social “fakes” is salient. Related Stories It’s Not Just the Money, It’s the People in Bitcoin: Anil Lulla A Year of Careful, Prosaic BUIDLing || Is Blockchain the Shot in the Arm Healthcare Needs?: This post is part of CoinDesk’s 2019 Year in Review, a collection of 100 op-eds, interviews and takes on the state of blockchain and the world. Dr. Alex Cahana is head of healthcare and blockchain consulting at Genesis Block.
At the end of 2018, while awakening from the Crypto Winter, a group of noted healthcare professionals led by Mayo Clinic’s John Halamkapredictedthat 2019 would be a pivotal year for blockchain in the healthcare industry. They said blockchain would become an essential part of consent management,improve remittancesand enhance the monetization of personal data. It would tokenize non-cash assets, like patient outcomes, as an incentive to improve health.
How much of this agenda was actually realized? The answer is some, but not all. We have seen blockchain deployments in supply chains and for physician credentialing, but not yet implemented as an architecture of electronic health records intended to transform them into self-sovereign, patient-driven digital assets.
Related:Mind-Bending Narrative Shifts in 2019
Why is that, or more fundamentally, why use blockchain in healthcare at all?
Healthcare is problematic all over the world. From a patient point of view, healthcare is not always readily accessible and in many casestoo expensive. From a healthcare professional’s perspective, there istoo much paperwork. For hospital executives,unchecked job growth ratehas not translated into better patient outcomes. The future of pharma and digital therapies is fraught withuncertainty. And even insurance brokers have experiencedreduced or eliminated commissionson the sale of individual health plans.
At least, we can all agree that the healthcare ecosystem is a multi-stakeholder, mal-aligned, friction-full, opaque, heavily-regulated, lacking-of-trust, data-rich environment. From there, we can agree on the need for new responses and approaches, including the use of blockchain. It turns out that blockchain-based platforms are ideal for dealing with the characteristics that plague healthcare.
Robert Miller, ofConsenSys Health, produced an excellentreportthis summer summarizing major trends in the blockchain health space. These include the formation of major new business networks around healthcare use-cases, greater VC funding, and as already mentioned, the use of blockchain for credentialing.
Related:The Year of the Patient Builder and the Persistent Bully
This year, half a dozen consortias (like IBM’s Health Utility Network [HUN],CoalesceHealth Alliance andMELLODY) announced projects to exchange healthcare and life science data on using permissioned distributed ledgers. That’s a big deal. Together, these consortia touch the lives of millions of customers (HUN covers 80 million beneficiaries) in a multi-billion dollar market (MELLODY includes pharma companies with a collective value of more than $300 billion).
Venture capital flows have actually slowed, reaching $25M in VC funding this year ($16M of them forChronicled). This amount is stilllowerthan the $100M-plus raised in 2018 and represents a ridiculously miniscule fraction of the $6B VC funding for non-blockchaindigital healthprojects. As forSTOs, the nearly $1B raise in 124 deals included only seven healthcare projects (likeHealthbank,Healthereum,VerseonandAgenus), with no significant reported raises.
Supply chain applications and physician credentialing are the most common use-cases in healthcare blockchain. The Drug Supply Chain Security Act (DSCSA) of 2013, which mandated the creation of an electronic, interoperable system that can trace and identify distributed prescription drugs, catalyzed the development of a few large scale blockchain-based platforms (likeIDLogiq,MediLedger,RymediandTraceLink).
As for physician credentialing, we’ve seen a multitude of DLT credentialing solutions emerge (likeProCredXdeveloped by HashedHealth,Blockcertsused by theFederation of State Medical Boards,IntivaHealththat maintains records for continuing education andTruu, used by the UK National Health System). But currently these solutions (except Truu) are exclusively business-to-business and do not address the problem of physician identity or improve professional mobility.
So what can we expect in 2020?
As Nikhil Krishnan correctly predicted in hisCB Insightreport, the growing blockchain and healthcare landscape (48%CAGRtill 2027) is currently dominated by closed consortia, where patient data is minimally used, under strictHIPPAorGDPRregulation. The idea that personal health information in the hands of patients are part of an immutable, master health record has been implemented inEstonia. But it looks like US adoption will be impeded due to a lack of political, regulatory and social appetite to change healthcare from a centralized, corporate, for-profit system into a self-sovereign, decentralized, doctor-patient-driven one.
Whether 2020 will be an incremental or transformational year depends on three factors in my opinion.
First, will we educate healthcare professionals by using a better, refined language? Already we shy away from using the words “crypto” and “blockchain,” associated with hacking and greed (thank you Mt. Gox and ICOs) and use the term DLT. But if we really want to recruit the public, we also need totalkabout re-intermediation instead of disintermediation, coopetition (collaborative competition) instead of competition and distinguish between a sustainable “open” market (open to producers) vs. a non-sustainable “free” market, that includes also non- and counter-producers that manipulate and destroy the market (for details, read about Radical Marketshere). In other words, the story shouldn’t be about technology, but what technology can achieve for healthcare and its stakeholders.
Second, will we start to explainwhy we should use blockchainand stop just describing it? Yes, for blockchain to work it must be, as Toufi Saliba, CEO of theTODA Networksays: SECSI (Secure, Efficient, Confidential, Scalable, Interoperable). But doctors don’t care that blockchain is a ledger and are not interested in explanations about PoS, PoW, sharding and DAGs. Healthcare professionals need to understand that the “secret sauce” behind using Blockchain in their practice is that their relationship with patients has an inherent value. By promoting patient health, doctors actually engage in a peer-to-peer economic activity and can reward patients and be rewarded for healthy behaviour. Patient outcome is thus an invested asset (store of value) that can be traded not only by companies (Google, FitBit, 23andMe and ZocDoc) but also by patients and professionals themselves.
And third, the 2020 US election outcome. As institutional trust erodes (think government, certain media outlets, Facebook), distributed trust has emerged as an attack-, collusion- and censorship- resistant model to procure, curate, store, manage and analyze data and information. But the public doesn’t understand the difference betweenuniversal accessto healthcare, which is enhanced when using a distributed, decentralized economic model, and Medicare-for-All (or Amazon-for-All) which is a centralized, friction-fullmonopsonisticsystem. Resolving this confusion will be important for blockchain’s future prospects in the healthcare space.
As healthcare remains thetop issueon voters’ minds this year, the country remainsevenly spliton whether we should have a very centralized system (Medicare-for-all), a somewhat centralized one (ACA or “Obamacare) or state-based “distributed” (but not decentralized) healthcare. I doubt DLT will behorizontally integratedthis year or leveraged as a tool to transform healthcare’s business model and looking ahead to 2020, that future seems some way off given the largely centralized, corporate, for-profit healthcare system in the United States.
Nonetheless healthcare provides a very strong, if not perfect use-case for blockchain software solutions. It uses a shared repository (EHRs) with multiple writers (doctors, nurses, staff) and it has transaction dependencies (adherence to treatment plans, payments, regulations) with multiple intermediaries (professionals, patients, payors, regulators) that have no or minimal trust between them. Blockchain is poised to remedy many of these shortcomings.
Finally, instead of pointing out what blockchain ismissing, or fret that its purpose is unclear andchanging, or hedge on what blockchainwill become, let us state clearlywhat blockchain does. It is an attack, collusion and censorship-resistant solution that facilitates peer-to-peer economic activity. And in a world that suffers from a fear of fake products (fake posts, fake news and fake data), the role of DLT as solving the problem of social “fakes” is salient.
• It’s Not Just the Money, It’s the People in Bitcoin: Anil Lulla
• A Year of Careful, Prosaic BUIDLing || Coinbase CEO Armstrong Wins Patent for Tech Allowing Users to Email Bitcoin: Coinbase CEO Brian Armstrong has been granted a U.S. patent for an invention that makes sending bitcoin as easy as email, literally.
Thepatent, granted on Tuesday and filed in March 2015, details a system for users to make cryptocurrency payments with email addresses linked to corresponding wallet addresses. The sender makes a request to send cryptocurrency to an email address, and the system automatically transmits the agreed amount – so long as they have the required balance – from the sender’s wallet to the wallet corresponding to the receiver’s email address.
The system takes 48 hours for the transaction to clear, once the receiver has confirmed the payment. Cryptocurrencies not in use would be stored in a secure vault that can only be accessed by the email address linked to the corresponding wallet.
Related:Bitcoin-Savvy Retailers to Experiment With Point-of-Sale Lightning App in 2020
While Coinbase hasmademore than $2 billion in transaction fees since 2012, the proposed email system will not charge users fees. According to the patent, mining fees will be paid for by the exchange itself. Transactions to external wallet addresses would be possible, but may not be free-of-charge.
The patent specifically mentions bitcoin and doesn’t say whether the system could support other cryptocurrencies, but presumably that wouldn’t be a major hurdle. There also appears to be no restriction on email providers, meaning users could use existing email addresses should they wish to.
The email system would also include a featured exchange facility for users to make in-app bitcoin trades using fiat currency from a linked bank account.
Whether the exchange plans a new service based on the patent isn’t clear. CoinDesk has reached out to Coinbase for comment.
Related:Netherlands Plans to Punish Crypto Scammers With Up to 6 Years in Jail
Two other patents were granted to Coinbase on Tuesday. One is anapplicationfor ensuring user accounts comply with international and local law, the other anenforcement protocolfor closing non-compliant accounts.
The email transaction system would potentially make cryptocurrency transactions easier for less advanced users. In August, Armstrongsaidhe wanted to create an inclusive financial system: “The vision for Coinbase is creating more economic freedom for every person and business in the world over the next 10 years.”
• Ripple’s Revamped Xpring Platform Looks to Boost XRP Development
• JPMorgan Blockchain Payments Network Eyes January Japan Launch || Coinbase CEO Armstrong Wins Patent for Tech Allowing Users to Email Bitcoin: Coinbase CEO Brian Armstrong has been granted a U.S. patent for an invention that makes sending bitcoin as easy as email, literally. The patent , granted on Tuesday and filed in March 2015, details a system for users to make cryptocurrency payments with email addresses linked to corresponding wallet addresses. The sender makes a request to send cryptocurrency to an email address, and the system automatically transmits the agreed amount – so long as they have the required balance – from the sender’s wallet to the wallet corresponding to the receiver’s email address. The system takes 48 hours for the transaction to clear, once the receiver has confirmed the payment. Cryptocurrencies not in use would be stored in a secure vault that can only be accessed by the email address linked to the corresponding wallet. Related: Bitcoin-Savvy Retailers to Experiment With Point-of-Sale Lightning App in 2020 While Coinbase has made more than $2 billion in transaction fees since 2012, the proposed email system will not charge users fees. According to the patent, mining fees will be paid for by the exchange itself. Transactions to external wallet addresses would be possible, but may not be free-of-charge. The patent specifically mentions bitcoin and doesn’t say whether the system could support other cryptocurrencies, but presumably that wouldn’t be a major hurdle. There also appears to be no restriction on email providers, meaning users could use existing email addresses should they wish to. The email system would also include a featured exchange facility for users to make in-app bitcoin trades using fiat currency from a linked bank account. Whether the exchange plans a new service based on the patent isn’t clear. CoinDesk has reached out to Coinbase for comment. Related: Netherlands Plans to Punish Crypto Scammers With Up to 6 Years in Jail Two other patents were granted to Coinbase on Tuesday. One is an application for ensuring user accounts comply with international and local law, the other an enforcement protocol for closing non-compliant accounts. Story continues The email transaction system would potentially make cryptocurrency transactions easier for less advanced users. In August, Armstrong said he wanted to create an inclusive financial system: “The vision for Coinbase is creating more economic freedom for every person and business in the world over the next 10 years.” Related Stories Ripple’s Revamped Xpring Platform Looks to Boost XRP Development JPMorgan Blockchain Payments Network Eyes January Japan Launch || Coinbase CEO Armstrong Wins Patent for Tech Allowing Users to Email Bitcoin: Coinbase CEO Brian Armstrong has been granted a U.S. patent for an invention that makes sending bitcoin as easy as email, literally.
Thepatent, granted on Tuesday and filed in March 2015, details a system for users to make cryptocurrency payments with email addresses linked to corresponding wallet addresses. The sender makes a request to send cryptocurrency to an email address, and the system automatically transmits the agreed amount – so long as they have the required balance – from the sender’s wallet to the wallet corresponding to the receiver’s email address.
The system takes 48 hours for the transaction to clear, once the receiver has confirmed the payment. Cryptocurrencies not in use would be stored in a secure vault that can only be accessed by the email address linked to the corresponding wallet.
Related:Bitcoin-Savvy Retailers to Experiment With Point-of-Sale Lightning App in 2020
While Coinbase hasmademore than $2 billion in transaction fees since 2012, the proposed email system will not charge users fees. According to the patent, mining fees will be paid for by the exchange itself. Transactions to external wallet addresses would be possible, but may not be free-of-charge.
The patent specifically mentions bitcoin and doesn’t say whether the system could support other cryptocurrencies, but presumably that wouldn’t be a major hurdle. There also appears to be no restriction on email providers, meaning users could use existing email addresses should they wish to.
The email system would also include a featured exchange facility for users to make in-app bitcoin trades using fiat currency from a linked bank account.
Whether the exchange plans a new service based on the patent isn’t clear. CoinDesk has reached out to Coinbase for comment.
Related:Netherlands Plans to Punish Crypto Scammers With Up to 6 Years in Jail
Two other patents were granted to Coinbase on Tuesday. One is anapplicationfor ensuring user accounts comply with international and local law, the other anenforcement protocolfor closing non-compliant accounts.
The email transaction system would potentially make cryptocurrency transactions easier for less advanced users. In August, Armstrongsaidhe wanted to create an inclusive financial system: “The vision for Coinbase is creating more economic freedom for every person and business in the world over the next 10 years.”
• Ripple’s Revamped Xpring Platform Looks to Boost XRP Development
• JPMorgan Blockchain Payments Network Eyes January Japan Launch || Fidelity Exec Predicts Crypto Custodians Will White-Label Their Services: Fidelity Digital Assets (FDAS) envisions a future where custodians work behind the scenes to store cryptocurrency for other firms’ clients, like supermarkets putting their brands on third-party products.
“The way we think about it is, you can build your own infrastructure but that’s really expensive,” Christine Sandler, head of sales and marketing at the unit of Fidelity Investments, said at a Hedge Fund Association conference in New York last week.
“To do it really well, you have to have geographic diversity, a staff that understands the underlying technology,” said Sandler, whojoinedFDAS from crypto exchange Coinbase in March.
Related:BitGo Warns Users to Withdraw Bitcoin SV Over Hard Fork Threat to Wallets
Hence, “I expect that custodians that do really well at this–whether it’s Fidelity or Coinbase–they will act as sub-custodians to other custodians,” she said. “It means they partner with other institutions and say, ‘I’m happy to custody this and you manage the client experience.’”
To be clear, Sandler was talking hypotheticals and not announcing any new plans for FDAS. The roughly one-year-old business acts as a broker and custodian of bitcoin for institutional investors and is one of the most significant forays to date into the crypto market by an established financial services provider.
This month, Fidelity Digital Assetsannouncedthat it would open up a new entity in Europe to serve European institutional investors. In November, FDASobtaineda trust company charter from the New York Department of Financial Services (NYDFS), allowing it to custody bitcoin for institutional investors in New York. Right now, the unit sources its liquidity primarily from over-the-counter (OTC) trading desks, but it plans tosign upits first crypto exchange by the end of 2019.
At the New York event, Sandler added that a theme of 2020 will be clients expressing interest in digital assets in many different ways.
Related:Fidelity to Expand Institutional Crypto Business to Europe
“Clients come to us and say ‘I want to expose 1 percent to 2 percent of my portfolio to bitcoin.’ That’s a big lift in terms of accessing that liquidity,” she said. “But it’s also a big lift in terms of how they are incorporating that into their portfolio, what evaluation tools are being used … what happens if the asset forks? Do you own the asset?”
• German Bank Launches Digital Assets Unit to Offer Custody Products
• Crypto Custody Firm Trustology Cuts Staff as Banks Delay on Digital Assets
[Social Media Buzz]
None available.
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7191.16, 7511.59, 7355.63, 7322.53, 7275.16, 7238.97, 7290.09, 7317.99, 7422.65, 7293.00
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Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 50025.38, 49944.62, 51753.41, 52633.54, 46811.13, 46091.39, 46391.42, 44883.91, 45201.46, 46063.27, 44963.07, 47092.49, 48176.35, 47783.36, 47267.52, 48278.36, 47260.22, 42843.80, 40693.68, 43574.51, 44895.10, 42839.75, 42716.59, 43208.54, 42235.73, 41034.54, 41564.36, 43790.89, 48116.94, 47711.49, 48199.95, 49112.90, 51514.81, 55361.45, 53805.98, 53967.85, 54968.22, 54771.58, 57484.79, 56041.06, 57401.10, 57321.52, 61593.95, 60892.18, 61553.62, 62026.08, 64261.99, 65992.84, 62210.17, 60692.27, 61393.62, 60930.84, 63039.82, 60363.79, 58482.39, 60622.14, 62227.96, 61888.83, 61318.96, 61004.41, 63226.40, 62970.05, 61452.23, 61125.68, 61527.48, 63326.99, 67566.83, 66971.83, 64995.23, 64949.96, 64155.94, 64469.53, 65466.84, 63557.87, 60161.25, 60368.01, 56942.14, 58119.58, 59697.20, 58730.48, 56289.29, 57569.07, 56280.43, 57274.68, 53569.77, 54815.08, 57248.46, 57806.57, 57005.43, 57229.83.
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[Bitcoin Technical Analysis for 2021-12-01]
Volume: 36858195307, RSI (14-day): 45.97, 50-day EMA: 58215.14, 200-day EMA: 50002.86
[Wider Market Context]
Gold Price: 1781.60, Gold RSI: 41.79
Oil Price: 65.57, Oil RSI: 26.99
[Recent News (last 7 days)]
COVID, Fauci and Zoom: Here are the most popular dog names of 2021, report finds: Dog parks this year may be filled with more pups named COVID, Fauci and Zoom. Rover.com, the app and website that connects owners with pet-care services, looked at its database of more than one million pet parents to unveil its most popular dog names of 2021. “The pandemic unfortunately did not end with 2020 and neither did the trend of COVID-inspired dog names,” Rover said in its annual report. The dog name Fauci went up by 270% this year while the name COVID spiked 35%, according to Rover. Zoom, a popular video call platform, was also a popular choice: up by 443%. Fauci refers to Anthony Stephen Fauci, the director of the National Institute of Allergy and Infectious Diseases and the chief medical advisor to President Joe Biden. He’s been a constant voice of information during the COVID-19 pandemic, which inspired the dog name COVID. The pet service also gave shout outs to “truly unique” dog names like Pfizer, Vax and country music legend Dolly Parton, who donated funds to COVID vaccine research efforts. Pandemic-inspired dog names weren’t the only ones trending this year. This year’s Tokyo Olympics “fueled new dog names” inspired by Olympians like Katie, Tom, Naomi, Simone and Suni — which was up by 113%. “USA women’s basketball took home the gold medal and we saw a dog named Sue Bird for the first time,” Rover said. Hollywood-inspired dog names were also a big hit this year. Celebrities like Aretha Franklin, Jennifer Lopez, A-Rod, and Doja Cat were some of the standouts. The names Taylor and Taylor Swift were not as popular this year, according to Rover. Even naming pets after travel destinations like Italy and France rose in popularity, along with marijuana and Bitcoin-inspired names. Puppy gets herself stuck underneath Iowa home’s deck. Watch firefighters rescue it Rabid raccoon found in a Midlands county. Here’s where it was Her dog vanished after surviving N.M. crash that killed her partner. It’s back home now || COVID, Fauci and Zoom: Here are the most popular dog names of 2021, report finds: Dog parks this year may be filled with more pups named COVID, Fauci and Zoom. Rover.com, the app and website that connects owners with pet-care services, looked at its database of more than one million pet parents to unveil its most popular dog names of 2021. “The pandemic unfortunately did not end with 2020 and neither did the trend of COVID-inspired dog names,” Rover said in its annual report. The dog name Fauci went up by 270% this year while the name COVID spiked 35%, according to Rover. Zoom, a popular video call platform, was also a popular choice: up by 443%. Fauci refers to Anthony Stephen Fauci, the director of the National Institute of Allergy and Infectious Diseases and the chief medical advisor to President Joe Biden. He’s been a constant voice of information during the COVID-19 pandemic, which inspired the dog name COVID. The pet service also gave shout outs to “truly unique” dog names like Pfizer, Vax and country music legend Dolly Parton, who donated funds to COVID vaccine research efforts. Pandemic-inspired dog names weren’t the only ones trending this year. This year’s Tokyo Olympics “fueled new dog names” inspired by Olympians like Katie, Tom, Naomi, Simone and Suni — which was up by 113%. “USA women’s basketball took home the gold medal and we saw a dog named Sue Bird for the first time,” Rover said. Hollywood-inspired dog names were also a big hit this year. Celebrities like Aretha Franklin, Jennifer Lopez, A-Rod, and Doja Cat were some of the standouts. The names Taylor and Taylor Swift were not as popular this year, according to Rover. Even naming pets after travel destinations like Italy and France rose in popularity, along with marijuana and Bitcoin-inspired names. Puppy gets herself stuck underneath Iowa home’s deck. Watch firefighters rescue it Rabid raccoon found in a Midlands county. Here’s where it was Her dog vanished after surviving N.M. crash that killed her partner. It’s back home now || First Mover Asia: Bitcoin Rally Stalls After US Central Bank Chair’s Comments; Ether Rises: Good morning. Here’s what’s happening this morning:
Market moves:Bitcoin dropped on U.S. Fed Chair Powell’s comment, while ether gained more market share.
Technician’s take:Support levels remain intact, which could establish a tight trading range between $55,000-$60,000 BTC into the Asian trading day.
Catch the latest episodesofCoinDesk TVfor insightful interviews with crypto industry leaders and analysis.
Bitcoin (BTC): $57,157 -1.3%
Ether (ETH): $4,642 +4.4%
S&P 500: $4,567 -1.9%
Dow Jones Industrial Average: $34,483 -1.8%
Nasdaq: $15,537 -1.5%
Gold: $1,772 -.80%
Bitcoin’s price sank after U.S. Federal Reserve Chair Jerome Powell warned Tuesday that the risk of higher inflation has “increased,”signalingthe central bank would consider fastening the reduction of its asset purchase policies that have boosted the markets for risky assets.
“A faster Fed taper andincreased [interest] rate hike expectationswas bad news for bitcoin,” Edward Moya, senior market analyst at foreign-exchange broker Oanda, wrote in a market commentary. “Bitcoin is trading more like a risky asset than an inflation hedge.”
On the other hand, ether, the second-largest cryptocurrency by market capitalization, ended Tuesday with its fourth straight day of gains, trading above $4,600, according to CoinDesk’s data.
“Ethereum is still the favorite crypto bet for most traders and seems like it will make another run towards $5000 once risk appetite returns,” Moya added.
Ether’s growing market dominance is also reflected on theether-bitcoin(ETH/BTC) chart: The ETH/BTC daily chart on crypto exchange Binance was up by more than 5.2%, at the time of writing, according to TradingView.
Other layer 1 blockchain-associated tokens also posted gains on Tuesday, led by Terra blockchain’sLUNA token, which logged a new record high price.
Read More:UST Stablecoin Demand, DeFi Incentives Drive Terra’s LUNA to New All-Time High
Bitcoin Declined Below $58K; Support Between $53K-$55K
Bitcoin (BTC) buyers failed to sustain Monday’s price bounce, althoughsupportaround $53,000-$55,000 could stabilize the current pullback.
The cryptocurrency is down about 2% over the past 24 hours and is roughly flat over the past week.
The downward-sloping, 100-day moving average on the four-hour chart indicates a short-term downtrend. This means buyers have consistently taken some profit on rallies over the past month.
Recently, the $60,000resistancelevel has been a key hurdle for buyers despite oversold readings on the charts. So far, support levels remain intact, which could establish a tight trading range between $55,000-$60,000 into the Asian trading day. BTC was trading around $57,800 at press time.
8:30 a.m. HKT/SGT (12:30 a.m. UTC): Jibun Bank Manufacturing purchasing managers’ index (Nov.)
8:30 a.m. HKT/SGT (12:30 a.m. UTC): Australia gross domestic product (Q3/YoY/QoQ)
9:45 a.m. HKT/SGT (1:45 a.m. UTC): Caixin China purchasing managers’ index (Nov.)
3 p.m. HKT/SGT (7 a.m. UTC): Germany retail sales (Oct. YoY/MoM)
In case you missed it, here are the most recent episodes of“First Mover”onCoinDesk TV:
Jack Dorsey’s Plan After Resigning as Twitter CEO, Hedera Hashgraph CEO on Real-time Intercontinental Settlement Using Stablecoins
“First Mover” hosts spoke with Blockchain Association Executive Director Kristin Smith as her organization raised $4 million to expand its presence on Capitol Hill. WisdomTree Head of Digital Assets Jason Guthrie shared insights into crypto markets as bitcoin six-month “put-call skew” flipped bearish for the first time since May. Plus, Hedera Hashgraph co-founder and CEO Mance Harmon explained the new partnership with South Korea’s Shihan Bank and multinational Standard Bank on stablecoins.
Borderless Capital Launches $500M Algorand-Focused Fund
Indian Finance Minister Says Monitoring Crypto Ads; Not Weighing Ban
A16z Leads $28M Round for Privacy Coin Iron Fish
Avalanche, Layer 1 Tokens Soared in November as Ethereum Fees Drove Competition
Kleiman v. Wright: Jury Deliberations Continue in Week 2
The Future of Money: A History: Accounting has defined civilization for centuries. And, now thanks to crypto, we’re going to see accounting 3.0. This essay is part of CoinDesk’s Future of Money Week.
Who Sets the Rules of Bitcoin as Nation-States and Corps Roll In: Can a small team of Core developers protect bitcoin’s integrity now it’s a matter of geopolitical relevance?
Today’s crypto explainer:Is Bitcoin Legal? || First Mover Asia: Bitcoin Rally Stalls After US Central Bank Chair’s Comments; Ether Rises: Good morning. Here’s what’s happening this morning: Market moves: Bitcoin dropped on U.S. Fed Chair Powell’s comment, while ether gained more market share. Technician’s take: Support levels remain intact, which could establish a tight trading range between $55,000-$60,000 BTC into the Asian trading day. Catch the latest episodes of CoinDesk TV for insightful interviews with crypto industry leaders and analysis. Prices Bitcoin ( BTC ): $57,157 -1.3% Ether ( ETH ): $4,642 +4.4% Markets S&P 500: $4,567 -1.9% Dow Jones Industrial Average: $34,483 -1.8% Nasdaq: $15,537 -1.5% Gold: $1,772 -.80% Market moves Bitcoin’s price sank after U.S. Federal Reserve Chair Jerome Powell warned Tuesday that the risk of higher inflation has “increased,” signaling the central bank would consider fastening the reduction of its asset purchase policies that have boosted the markets for risky assets. “A faster Fed taper and increased [interest] rate hike expectations was bad news for bitcoin,” Edward Moya, senior market analyst at foreign-exchange broker Oanda, wrote in a market commentary. “Bitcoin is trading more like a risky asset than an inflation hedge.” On the other hand, ether, the second-largest cryptocurrency by market capitalization, ended Tuesday with its fourth straight day of gains, trading above $4,600, according to CoinDesk’s data. “Ethereum is still the favorite crypto bet for most traders and seems like it will make another run towards $5000 once risk appetite returns,” Moya added. Ether’s growing market dominance is also reflected on the ether-bitcoin (ETH/BTC) chart: The ETH/BTC daily chart on crypto exchange Binance was up by more than 5.2%, at the time of writing, according to TradingView. ETH/BTC daily chart on Binance (TradingView) Other layer 1 blockchain-associated tokens also posted gains on Tuesday, led by Terra blockchain’s LUNA token , which logged a new record high price. Read More: UST Stablecoin Demand, DeFi Incentives Drive Terra’s LUNA to New All-Time High Technician’s take Bitcoin Declined Below $58K; Support Between $53K-$55K Story continues Bitcoin four-hour price chart shows support/resistance levels (Damanick Dantes/CoinDesk, TradingView) Bitcoin (BTC) buyers failed to sustain Monday’s price bounce, although support around $53,000-$55,000 could stabilize the current pullback. The cryptocurrency is down about 2% over the past 24 hours and is roughly flat over the past week. The downward-sloping, 100-day moving average on the four-hour chart indicates a short-term downtrend. This means buyers have consistently taken some profit on rallies over the past month. Recently, the $60,000 resistance level has been a key hurdle for buyers despite oversold readings on the charts. So far, support levels remain intact, which could establish a tight trading range between $55,000-$60,000 into the Asian trading day. BTC was trading around $57,800 at press time. Important events 8:30 a.m. HKT/SGT (12:30 a.m. UTC): Jibun Bank Manufacturing purchasing managers’ index (Nov.) 8:30 a.m. HKT/SGT (12:30 a.m. UTC): Australia gross domestic product (Q3/YoY/QoQ) 9:45 a.m. HKT/SGT (1:45 a.m. UTC): Caixin China purchasing managers’ index (Nov.) 3 p.m. HKT/SGT (7 a.m. UTC): Germany retail sales (Oct. YoY/MoM) CoinDesk TV In case you missed it, here are the most recent episodes of “First Mover” on CoinDesk TV: Jack Dorsey’s Plan After Resigning as Twitter CEO, Hedera Hashgraph CEO on Real-time Intercontinental Settlement Using Stablecoins “First Mover” hosts spoke with Blockchain Association Executive Director Kristin Smith as her organization raised $4 million to expand its presence on Capitol Hill. WisdomTree Head of Digital Assets Jason Guthrie shared insights into crypto markets as bitcoin six-month “put-call skew” flipped bearish for the first time since May. Plus, Hedera Hashgraph co-founder and CEO Mance Harmon explained the new partnership with South Korea’s Shihan Bank and multinational Standard Bank on stablecoins. Latest headlines Borderless Capital Launches $500M Algorand-Focused Fund Indian Finance Minister Says Monitoring Crypto Ads; Not Weighing Ban A16z Leads $28M Round for Privacy Coin Iron Fish Avalanche, Layer 1 Tokens Soared in November as Ethereum Fees Drove Competition Kleiman v. Wright: Jury Deliberations Continue in Week 2 Longer reads The Future of Money: A History: Accounting has defined civilization for centuries. And, now thanks to crypto, we’re going to see accounting 3.0. This essay is part of CoinDesk’s Future of Money Week. Who Sets the Rules of Bitcoin as Nation-States and Corps Roll In: Can a small team of Core developers protect bitcoin’s integrity now it’s a matter of geopolitical relevance? Today’s crypto explainer: Is Bitcoin Legal? || First Mover Asia: Bitcoin Rally Stalls After US Central Bank Chair’s Comments; Ether Rises: Good morning. Here’s what’s happening this morning:
Market moves:Bitcoin dropped on U.S. Fed Chair Powell’s comment, while ether gained more market share.
Technician’s take:Support levels remain intact, which could establish a tight trading range between $55,000-$60,000 BTC into the Asian trading day.
Catch the latest episodesofCoinDesk TVfor insightful interviews with crypto industry leaders and analysis.
Bitcoin (BTC): $57,157 -1.3%
Ether (ETH): $4,642 +4.4%
S&P 500: $4,567 -1.9%
Dow Jones Industrial Average: $34,483 -1.8%
Nasdaq: $15,537 -1.5%
Gold: $1,772 -.80%
Bitcoin’s price sank after U.S. Federal Reserve Chair Jerome Powell warned Tuesday that the risk of higher inflation has “increased,”signalingthe central bank would consider fastening the reduction of its asset purchase policies that have boosted the markets for risky assets.
“A faster Fed taper andincreased [interest] rate hike expectationswas bad news for bitcoin,” Edward Moya, senior market analyst at foreign-exchange broker Oanda, wrote in a market commentary. “Bitcoin is trading more like a risky asset than an inflation hedge.”
On the other hand, ether, the second-largest cryptocurrency by market capitalization, ended Tuesday with its fourth straight day of gains, trading above $4,600, according to CoinDesk’s data.
“Ethereum is still the favorite crypto bet for most traders and seems like it will make another run towards $5000 once risk appetite returns,” Moya added.
Ether’s growing market dominance is also reflected on theether-bitcoin(ETH/BTC) chart: The ETH/BTC daily chart on crypto exchange Binance was up by more than 5.2%, at the time of writing, according to TradingView.
Other layer 1 blockchain-associated tokens also posted gains on Tuesday, led by Terra blockchain’sLUNA token, which logged a new record high price.
Read More:UST Stablecoin Demand, DeFi Incentives Drive Terra’s LUNA to New All-Time High
Bitcoin Declined Below $58K; Support Between $53K-$55K
Bitcoin (BTC) buyers failed to sustain Monday’s price bounce, althoughsupportaround $53,000-$55,000 could stabilize the current pullback.
The cryptocurrency is down about 2% over the past 24 hours and is roughly flat over the past week.
The downward-sloping, 100-day moving average on the four-hour chart indicates a short-term downtrend. This means buyers have consistently taken some profit on rallies over the past month.
Recently, the $60,000resistancelevel has been a key hurdle for buyers despite oversold readings on the charts. So far, support levels remain intact, which could establish a tight trading range between $55,000-$60,000 into the Asian trading day. BTC was trading around $57,800 at press time.
8:30 a.m. HKT/SGT (12:30 a.m. UTC): Jibun Bank Manufacturing purchasing managers’ index (Nov.)
8:30 a.m. HKT/SGT (12:30 a.m. UTC): Australia gross domestic product (Q3/YoY/QoQ)
9:45 a.m. HKT/SGT (1:45 a.m. UTC): Caixin China purchasing managers’ index (Nov.)
3 p.m. HKT/SGT (7 a.m. UTC): Germany retail sales (Oct. YoY/MoM)
In case you missed it, here are the most recent episodes of“First Mover”onCoinDesk TV:
Jack Dorsey’s Plan After Resigning as Twitter CEO, Hedera Hashgraph CEO on Real-time Intercontinental Settlement Using Stablecoins
“First Mover” hosts spoke with Blockchain Association Executive Director Kristin Smith as her organization raised $4 million to expand its presence on Capitol Hill. WisdomTree Head of Digital Assets Jason Guthrie shared insights into crypto markets as bitcoin six-month “put-call skew” flipped bearish for the first time since May. Plus, Hedera Hashgraph co-founder and CEO Mance Harmon explained the new partnership with South Korea’s Shihan Bank and multinational Standard Bank on stablecoins.
Borderless Capital Launches $500M Algorand-Focused Fund
Indian Finance Minister Says Monitoring Crypto Ads; Not Weighing Ban
A16z Leads $28M Round for Privacy Coin Iron Fish
Avalanche, Layer 1 Tokens Soared in November as Ethereum Fees Drove Competition
Kleiman v. Wright: Jury Deliberations Continue in Week 2
The Future of Money: A History: Accounting has defined civilization for centuries. And, now thanks to crypto, we’re going to see accounting 3.0. This essay is part of CoinDesk’s Future of Money Week.
Who Sets the Rules of Bitcoin as Nation-States and Corps Roll In: Can a small team of Core developers protect bitcoin’s integrity now it’s a matter of geopolitical relevance?
Today’s crypto explainer:Is Bitcoin Legal? || Daily Crunch: AWS unveils new open source autoscaling tool Karpenter at customer conference: To get a roundup of TechCrunch’s biggest and most important stories delivered to your inbox every day at 3 p.m. PST, subscribe here . Hello and welcome to Daily Crunch for Tuesday, November 30, 2021! This is the last newsletter of the month, which means that tomorrow is December. Get ready for the last few weeks of news before the Christmas/holiday news freeze sets into place. There are still a few IPOs to go, so don’t log off yet! — Alex The TechCrunch Top 3 4 Nubank cuts IPO price range target: Bellwether Brazilian tech company Nubank has reduced its price range ahead of its public offering. In short, the neobank will sell its shares for less than it expected, lowering the size of its impending capital raise and also cutting its public-market valuation. TechCrunch dug into whether the news matters for Latin American startups more broadly. (More on the company’s economics here .) Facebook told to sell Giphy: Remember when Facebook bought Giphy, the GIF search engine? Well, the Competition and Markets Authority, the U.K.’s competition watchdog, is telling the U.S. social networking giant to reverse that purchase. A rare moment in which a major tech company is told no . Also, Facebook’s crypto exec is leaving: Another Facebook exec is taking off, crypto leader David Marcus. The news comes after “Facebook CTO Mike Schroepfer announced he was stepping down from his role after 13 years at the company” this September, TechCrunch notes. Digital sales disappoint during shoppy fauxliday: After disappointing online sales on Black Friday led TechCrunch to look into e-commerce sales growth more generally , “consumer awareness of supply chain shortages and even earlier deals may have contributed to a slight decline in U.S. e-commerce sales during Cyber Week,” Sarah Perez reports. Startups/VC Before we get into our daily digest of startup happenings, HashiCorp’s IPO is shaping up to be a right corker . The U.S. cloud infra management concern is targeting a pretty high price point for its shares, at least in revenue-multiples terms. Good news for open source startups more generally? We think so. (More on its economics here .) Story continues BeerOrCoffee raises $10M: Notably BeerOrCoffee is not an artisan, DTC, free-range consumer beverage outfit. Instead, the São Paulo-based startup offers flexible office space. TechCrunch dug into its operations and recent Series A raise. Money, attention or compute? Massive, a startup, wants to offer the world’s consumers a different way to pay for apps. Not with their currency (subscriptions) or attention (ads), but with their spare compute time. We had questions, but the model sounds pretty neat. Fundbox shows that SMBs can build unicorns: Forget the old VC rule that selling to SMBs is bad business. There are just too many successful startups out here looking to sell to small businesses for the old saw to be anything but toothless. Fundbox’s new $1.1 billion valuation is evidence of the fact, with the SMB-focused fintech adding nine figures to its accounts in a single gulp. The other way to make tech money from trucking: Sure, we read a lot about self-driving semis and how computers will soon drive our big trucks. But, in the meantime, CloudTrucks is raising a treasury to grow its software business aimed at trucking firms that still employ human drivers. The company just closed a massive $115 million Series B . And for startups out there looking to raise, a little venture fund news for your diversion: Sapphire Ventures raises $2B: For its sixth main fund and third “opportunity “ fund, Sapphire Ventures has banked 10 figures worth of capital. That’s a Smaug-level haul, and indicative, I believe, that I will annoy the firm’s Jai Das at least four times per quarter in 2021 for notes on what he’s seeing in the market. Partech raises $750 million for second growth fund: Normally a venture capital concern raising hundreds of millions of dollars doesn’t get my pulse up even a single BPM. However, as Partech is based in Paris, I have to admit that I found the news more than a little notable. Recall when Europe’s startup scene was considered an also-ran? That was a while ago now. 3 views on Jack Dorsey’s decision to step down as Twitter’s CEO MIAMI, FLORIDA - JUNE 04: Jack Dorsey creator, co-founder, and Chairman of Twitter and co-founder & CEO of Square speaks on stage at the Bitcoin 2021 Convention, a crypto-currency conference held at the Mana Convention Center in Wynwood on June 04, 2021 in Miami, Florida. The crypto conference is expected to draw 50,000 people and runs from Friday, June 4 through June 6th. (Photo by Joe Raedle/Getty Images) Image Credits: Joe+Raedle (opens in a new window) / Getty Images Jack Dorsey was Twitter’s first CEO — and also its fourth. He led the platform from its launch in 2006 until he passed the torch to co-founder Ev Williams two years later. In 2015, Dorsey returned to the role, even though he was simultaneously serving as CEO of fintech platform Square. “There’s a lot of talk about the importance of a company being ‘founder-led,’” he wrote in a letter to employees. “Ultimately I believe that’s severely limiting and a single point of failure. I’ve worked hard to ensure this company can break away from its founding and founders.” The Equity podcast team discussed his departure in a TechCrunch+ post yesterday afternoon: Alex Wilhelm: A call to return to the old normal from the new normal Natasha Mascarenhas: A reset would rewrite how VCs and entrepreneurs do business Amanda Silberling: Founders aren’t rock stars (TechCrunch+ is our membership program, which helps founders and startup teams get ahead. You can sign up here .) Big Tech Inc. Today’s Big Tech news comes in two chunks. There’s the day’s news from huge tech concerns, and then there’s a whole mess of AWS-related news from our enterprise team. European AI regulation may lack teeth: Per our own Natasha Lomas, a collection of civil society organizations has come to the view that “draft legislation” in Europe “falls far short of protecting fundamental rights from AI-fueled harms like scaled discrimination and blackbox bias.” Mercedes invests in Factorial Energy: Sure, we could have put this entry in the startup section, but how frequently do we see the parent company of reigning F1 winning champions, the Mercedes-AMG Petronas Formula One Team, in our pages? Infrequently. Regardless, Factorial is working on solid state batteries for cars, so you can see why the Silver Arrows corporate family was interested. Twitter cracks down on abusive image/video posting: In baby’s CEO’s first PR crisis, Twitter announced today that it is moving to “ban sharing images or videos of private individuals without their consent.” At issue is the fact that some video, well, will never get consent of say, the cops, despite being in the public interest. Twitter noted a public interest nuance, but some folks were still mad. And then, the Amazon/AWS news deluge: Karpenter is a “ new open source autoscaling tool for Kubernetes clusters .” SageMaker Canvas is a “ no-code ML service .” AWS to highlight partners that “ develop specialized solutions aimed at the energy industry .” AWS analytics are now serverless . There’s a new ML chip from Amazon, the Trn1 . But that’s not all! Amazon’s cloud team also has a new ARM chip called the “ Graviton 3 .” And we have even more from AWS’ big shindig here , if that is your jam! TechCrunch Experts dc experts Image Credits: SEAN GLADWELL / Getty Images TechCrunch wants you to recommend growth marketers who have expertise in SEO, social, content writing and more! If you’re a growth marketer, pass this survey along to your clients; we’d like to hear about why they loved working with you. If you're curious about how these surveys are shaping our coverage, check out this article on TechCrunch+ from Kerry Cunningham, “Product-led growth and signal substitution syndrome: Bringing it all together.” || Jack Dorsey chases crypto, fintech dream post Twitter: By Krystal Hu and Sheila Dang
(Reuters) - At a packed Miami conference in June, Jack Dorsey, mused in front of thousands of attendees about where his real passion lay: "If I weren't at Square or Twitter, I'd be working on bitcoin."
On Monday, Dorsey made good on one part of that, announcing he would leave Twitter for the second time, handing the CEO position to a 10-year veteran at the firm. The 45-year-old entrepreneur, who is often described as an enigma with varied interests from meditation to yoga to fashion design, plans to pursue his passion which include focusing on running Square Inc and doing more philanthropic work, according to a source familiar with his plan.
Well before the surprise news, Dorsey had laid the groundwork for his next chapter, seeding both companies with crypto-related projects.
Underlying Dorsey's broader vision is the principle of "decentralization," or the idea that technology and finance should not be concentrated among a handful of gatekeepers, as it is now, but should, instead, be steered by the hands of the many, either people or entities.
The concept has played out at Square, which has built a division devoted to working on projects and awarding grants with the aim of growing bitcoin's popularity globally.
Dorsey has been a longtime proponent of bitcoin, and the appeal is that the cryptocurrency will allow for private and secure transactions with the value of bitcoin unrelated to any government.
The idea has also underpinned new projects at Twitter, where Dorsey tapped a top lieutenant - and now the company's new CEO Parag Agrawal - to oversee a team that is attempting to construct a decentralized social media protocol, which will allow different social platforms to connect with one another, similar to the way email providers operate.
The project called Bluesky will aim to allow users control over the types of content they see online, removing the "burden" on companies like Twitter to enforce a global policy to fight abuse or misleading information, Dorsey said in 2019 when he announced Bluesky.
Bitcoin has also figured prominently at both of his companies. Square became one of the first public companies to own bitcoin assets on its balance sheet, having invested $220 million in the cryptocurrency.
In August, Square created a new business unit called TBD to focus on bitcoin. The company is also planning to build a hardware wallet for bitcoin, a bitcoin mining system, as well as a decentralized bitcoin exchange.
Twitter allows users to tip their favorite content creators with bitcoin and has been testing integrations with non-fungible tokens (NFTs), a type of digital asset that allows people to collect unique digital art.
Analysts see the transition as a positive signal for Square, the fintech platform he co-founded in 2009. Square’s core Cash App, after a bull run in its share in 2020, has experienced slower growth in the most recent quarter. It is also trying to digest the $29 billion acquisition of Buy Now Pay Later provider Afterpay, its largest acquisition ever.
But these ambitions will not pay off until years from now, analysts cautioned.
"The blockchain platform they're trying to develop is great but also fraught with technical challenges and difficult to scale for consumers. I think he'll focus more on Square and crypto will be part of that," said Christopher Brendler, an analyst at DA Davidson.
(Reporting by Krystal Hu and Elizabeth Culliford in New York and Sheila Dang in Dallas; Editing by Kenneth Li and Lisa Shumaker) || Jack Dorsey chases crypto, fintech dream post Twitter: By Krystal Hu and Sheila Dang (Reuters) - At a packed Miami conference in June, Jack Dorsey, mused in front of thousands of attendees about where his real passion lay: "If I weren't at Square or Twitter, I'd be working on bitcoin." On Monday, Dorsey made good on one part of that, announcing he would leave Twitter for the second time, handing the CEO position to a 10-year veteran at the firm. The 45-year-old entrepreneur, who is often described as an enigma with varied interests from meditation to yoga to fashion design, plans to pursue his passion which include focusing on running Square Inc and doing more philanthropic work, according to a source familiar with his plan. Well before the surprise news, Dorsey had laid the groundwork for his next chapter, seeding both companies with crypto-related projects. Underlying Dorsey's broader vision is the principle of "decentralization," or the idea that technology and finance should not be concentrated among a handful of gatekeepers, as it is now, but should, instead, be steered by the hands of the many, either people or entities. The concept has played out at Square, which has built a division devoted to working on projects and awarding grants with the aim of growing bitcoin's popularity globally. Dorsey has been a longtime proponent of bitcoin, and the appeal is that the cryptocurrency will allow for private and secure transactions with the value of bitcoin unrelated to any government. The idea has also underpinned new projects at Twitter, where Dorsey tapped a top lieutenant - and now the company's new CEO Parag Agrawal - to oversee a team that is attempting to construct a decentralized social media protocol, which will allow different social platforms to connect with one another, similar to the way email providers operate. The project called Bluesky will aim to allow users control over the types of content they see online, removing the "burden" on companies like Twitter to enforce a global policy to fight abuse or misleading information, Dorsey said in 2019 when he announced Bluesky. Story continues Bitcoin has also figured prominently at both of his companies. Square became one of the first public companies to own bitcoin assets on its balance sheet, having invested $220 million in the cryptocurrency. In August, Square created a new business unit called TBD to focus on bitcoin. The company is also planning to build a hardware wallet for bitcoin, a bitcoin mining system, as well as a decentralized bitcoin exchange. Twitter allows users to tip their favorite content creators with bitcoin and has been testing integrations with non-fungible tokens (NFTs), a type of digital asset that allows people to collect unique digital art. Analysts see the transition as a positive signal for Square, the fintech platform he co-founded in 2009. Square’s core Cash App, after a bull run in its share in 2020, has experienced slower growth in the most recent quarter. It is also trying to digest the $29 billion acquisition of Buy Now Pay Later provider Afterpay, its largest acquisition ever. But these ambitions will not pay off until years from now, analysts cautioned. "The blockchain platform they're trying to develop is great but also fraught with technical challenges and difficult to scale for consumers. I think he'll focus more on Square and crypto will be part of that," said Christopher Brendler, an analyst at DA Davidson. (Reporting by Krystal Hu and Elizabeth Culliford in New York and Sheila Dang in Dallas; Editing by Kenneth Li and Lisa Shumaker) || Jack Dorsey chases crypto, fintech dream post Twitter: By Krystal Hu and Sheila Dang (Reuters) - At a packed Miami conference in June, Jack Dorsey, mused in front of thousands of attendees about where his real passion lay: "If I weren't at Square or Twitter, I'd be working on bitcoin." On Monday, Dorsey made good on one part of that, announcing he would leave Twitter for the second time, handing the CEO position to a 10-year veteran at the firm. The 45-year-old entrepreneur, who is often described as an enigma with varied interests from meditation to yoga to fashion design, plans to pursue his passion which include focusing on running Square Inc and doing more philanthropic work, according to a source familiar with his plan. Well before the surprise news, Dorsey had laid the groundwork for his next chapter, seeding both companies with crypto-related projects. Underlying Dorsey's broader vision is the principle of "decentralization," or the idea that technology and finance should not be concentrated among a handful of gatekeepers, as it is now, but should, instead, be steered by the hands of the many, either people or entities. The concept has played out at Square, which has built a division devoted to working on projects and awarding grants with the aim of growing bitcoin's popularity globally. Dorsey has been a longtime proponent of bitcoin, and the appeal is that the cryptocurrency will allow for private and secure transactions with the value of bitcoin unrelated to any government. The idea has also underpinned new projects at Twitter, where Dorsey tapped a top lieutenant - and now the company's new CEO Parag Agrawal - to oversee a team that is attempting to construct a decentralized social media protocol, which will allow different social platforms to connect with one another, similar to the way email providers operate. The project called Bluesky will aim to allow users control over the types of content they see online, removing the "burden" on companies like Twitter to enforce a global policy to fight abuse or misleading information, Dorsey said in 2019 when he announced Bluesky. Story continues Bitcoin has also figured prominently at both of his companies. Square became one of the first public companies to own bitcoin assets on its balance sheet, having invested $220 million in the cryptocurrency. In August, Square created a new business unit called TBD to focus on bitcoin. The company is also planning to build a hardware wallet for bitcoin, a bitcoin mining system, as well as a decentralized bitcoin exchange. Twitter allows users to tip their favorite content creators with bitcoin and has been testing integrations with non-fungible tokens (NFTs), a type of digital asset that allows people to collect unique digital art. Analysts see the transition as a positive signal for Square, the fintech platform he co-founded in 2009. Square’s core Cash App, after a bull run in its share in 2020, has experienced slower growth in the most recent quarter. It is also trying to digest the $29 billion acquisition of Buy Now Pay Later provider Afterpay, its largest acquisition ever. But these ambitions will not pay off until years from now, analysts cautioned. "The blockchain platform they're trying to develop is great but also fraught with technical challenges and difficult to scale for consumers. I think he'll focus more on Square and crypto will be part of that," said Christopher Brendler, an analyst at DA Davidson. (Reporting by Krystal Hu and Elizabeth Culliford in New York and Sheila Dang in Dallas; Editing by Kenneth Li and Lisa Shumaker) || Jack Dorsey chases crypto, fintech dream post Twitter: By Krystal Hu and Sheila Dang (Reuters) - At a packed Miami conference in June, Jack Dorsey, mused in front of thousands of attendees about where his real passion lay: "If I weren't at Square or Twitter, I'd be working on bitcoin." On Monday, Dorsey made good on one part of that, announcing he would leave Twitter for the second time, handing the CEO position to a 10-year veteran at the firm. The 45-year-old entrepreneur, who is often described as an enigma with varied interests from meditation to yoga to fashion design, plans to pursue his passion which include focusing on running Square Inc and doing more philanthropic work, according to a source familiar with his plan. Well before the surprise news, Dorsey had laid the groundwork for his next chapter, seeding both companies with crypto-related projects. Underlying Dorsey's broader vision is the principle of "decentralization," or the idea that technology and finance should not be concentrated among a handful of gatekeepers, as it is now, but should, instead, be steered by the hands of the many, either people or entities. The concept has played out at Square, which has built a division devoted to working on projects and awarding grants with the aim of growing bitcoin's popularity globally. Dorsey has been a longtime proponent of bitcoin, and the appeal is that the cryptocurrency will allow for private and secure transactions with the value of bitcoin unrelated to any government. The idea has also underpinned new projects at Twitter, where Dorsey tapped a top lieutenant - and now the company's new CEO Parag Agrawal - to oversee a team that is attempting to construct a decentralized social media protocol, which will allow different social platforms to connect with one another, similar to the way email providers operate. The project called Bluesky will aim to allow users control over the types of content they see online, removing the "burden" on companies like Twitter to enforce a global policy to fight abuse or misleading information, Dorsey said in 2019 when he announced Bluesky. Story continues Bitcoin has also figured prominently at both of his companies. Square became one of the first public companies to own bitcoin assets on its balance sheet, having invested $220 million in the cryptocurrency. In August, Square created a new business unit called TBD to focus on bitcoin. The company is also planning to build a hardware wallet for bitcoin, a bitcoin mining system, as well as a decentralized bitcoin exchange. Twitter allows users to tip their favorite content creators with bitcoin and has been testing integrations with non-fungible tokens (NFTs), a type of digital asset that allows people to collect unique digital art. Analysts see the transition as a positive signal for Square, the fintech platform he co-founded in 2009. Square’s core Cash App, after a bull run in its share in 2020, has experienced slower growth in the most recent quarter. It is also trying to digest the $29 billion acquisition of Buy Now Pay Later provider Afterpay, its largest acquisition ever. But these ambitions will not pay off until years from now, analysts cautioned. "The blockchain platform they're trying to develop is great but also fraught with technical challenges and difficult to scale for consumers. I think he'll focus more on Square and crypto will be part of that," said Christopher Brendler, an analyst at DA Davidson. (Reporting by Krystal Hu and Elizabeth Culliford in New York and Sheila Dang in Dallas; Editing by Kenneth Li and Lisa Shumaker) || Cipher Mining to Participate in Upcoming Investor Conferences: NEW YORK, Nov. 30, 2021 (GLOBE NEWSWIRE) -- Cipher Mining Inc. (NASDAQ: CIFR) (Cipher or the Company), a U.S.-based Bitcoin mining company, today announced that members of its management team will participate in the following investor conferences: Conference: D.A. Davidson FinTech & Payments Spotlight Conference (Virtual) Date: December 2, 2021 the fireside chat will begin at 3:45 PM EST. Conference: B. Riley Securities Live Crypto Conference (In-Person) Date: December 8, 2021 the fireside chat will begin at 10:40 AM EST. Any live webcasts and replays of the presentations will be accessible on the Cipher Investor Relations website at investors.ciphermining.com . About Cipher Cipher is an industrial-scale Bitcoin mining company dedicated to expanding and strengthening the Bitcoin networks critical infrastructure. Its goal is to be the leading Bitcoin mining company in the United States. Cipher aims to leverage its best-in-class technology, market-leading power purchase arrangements, and a seasoned, dedicated senior management team to become the market leader in Bitcoin mining. To learn more about Cipher, please visit https://www.ciphermining.com/ . Forward Looking Statements This document contains certain forward-looking statements within the meaning of the federal securities laws of the U.S. The Company intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and includes this statement for purposes of complying with these safe harbor provisions. Any statements made in this press release or during the earnings call that are not statements of historical fact, including statements about our beliefs and expectations, are forward-looking statements and should be evaluated as such. Forward-looking statements include information concerning possible or assumed future results of operations, including descriptions of our business plan and strategies. These forward-looking statements generally are identified by the words believe, project, expect, anticipate, estimate, intend, strategy, future, forecast, opportunity, plan, may, should, will, would, will be, will continue, will likely result, and similar expressions (including the negative versions of such words or expressions). Story continues These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by Cipher and its management, are inherently uncertain. Such forward-looking statements are subject to risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied by such forward looking statements. New risks and uncertainties may emerge from time to time, and it is not possible to predict all risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this document, including but not limited to: volatility in the price of Ciphers securities due to a variety of factors, including changes in the competitive and regulated industry in which Cipher operates, variations in performance across competitors, changes in laws and regulations affecting Ciphers business, and the ability to implement business plans, forecasts, and other expectations and to identify and realize additional opportunities. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the documents filed by Cipher from time to time with the U.S. Securities and Exchange Commission (the SEC). These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Cipher assumes no obligation and, except as required by law, does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Contacts: Media Contact: Ryan Dicovitsky / Kendal Till Dukas Linden Public Relations CipherMining@DLPR.com Investor Contact: Lori Barker Blueshirt Group cipher@blueshirtgroup.com || Cipher Mining to Participate in Upcoming Investor Conferences: NEW YORK, Nov. 30, 2021 (GLOBE NEWSWIRE) --Cipher Mining Inc.(NASDAQ: CIFR) (“Cipher” or the “Company”), a U.S.-based Bitcoin mining company, today announced that members of its management team will participate in the following investor conferences:
Conference:D.A. Davidson FinTech & Payments Spotlight Conference (Virtual)Date:December 2, 2021 — the fireside chat will begin at 3:45 PM EST.
Conference:B. Riley Securities Live Crypto Conference (In-Person)Date:December 8, 2021 — the fireside chat will begin at 10:40 AM EST.
Any live webcasts and replays of the presentations will be accessible on the Cipher Investor Relations website atinvestors.ciphermining.com.
About CipherCipher is an industrial-scale Bitcoin mining company dedicated to expanding and strengthening the Bitcoin network’s critical infrastructure. Its goal is to be the leading Bitcoin mining company in the United States. Cipher aims to leverage its best-in-class technology, market-leading power purchase arrangements, and a seasoned, dedicated senior management team to become the market leader in Bitcoin mining. To learn more about Cipher, please visithttps://www.ciphermining.com/.
Forward Looking StatementsThis document contains certain forward-looking statements within the meaning of the federal securities laws of the U.S. The Company intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and includes this statement for purposes of complying with these safe harbor provisions. Any statements made in this press release or during the earnings call that are not statements of historical fact, including statements about our beliefs and expectations, are forward-looking statements and should be evaluated as such. Forward-looking statements include information concerning possible or assumed future results of operations, including descriptions of our business plan and strategies. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “forecast,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions (including the negative versions of such words or expressions).
These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by Cipher and its management, are inherently uncertain. Such forward-looking statements are subject to risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied by such forward looking statements. New risks and uncertainties may emerge from time to time, and it is not possible to predict all risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this document, including but not limited to: volatility in the price of Cipher’s securities due to a variety of factors, including changes in the competitive and regulated industry in which Cipher operates, variations in performance across competitors, changes in laws and regulations affecting Cipher’s business, and the ability to implement business plans, forecasts, and other expectations and to identify and realize additional opportunities. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the documents filed by Cipher from time to time with the U.S. Securities and Exchange Commission (the “SEC”). These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Cipher assumes no obligation and, except as required by law, does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.
Contacts:Media Contact:Ryan Dicovitsky / Kendal TillDukas Linden Public RelationsCipherMining@DLPR.com
Investor Contact:Lori BarkerBlueshirt Groupcipher@blueshirtgroup.com || The Transhumanist Case for Crypto: If you want to live forever, you need a money fit for purpose. Bitcoin, for many, is the ticket. Its the first, largest and most decentralized cryptocurrency. Its widely adopted from retail investors to pension funds to nation-states. It has a durable brand. Theres a case to be made that its the most recent Lindy invention, the idea that ancient phenomena are less perishable by virtue of being around the longest. But who would want to live forever? As a historical fact, it turns out, many early adopters of cryptocurrency, thats who! How fitting! Transhumanists, a broad category of people who want to improve the human condition extending life or extinguishing death, spreading happiness and eradicating suffering through technology looked at bitcoin as a powerful tool in their arsenal. This article, part of CoinDesks Future of Money Week , is excerpted from The Node newsletter, CoinDesks daily roundup of blockchain and crypto news. You can subscribe to get the full newsletter here . Its not necessary to name names here, but many of cryptos earliest advocates had ties to the transhumanist movement. Many influential crypto natives still do. There are many flavors of transhumanism: Posthuman, cyborgism, immoralism, biohackers, the singularity are all close cognates. The overriding idea is simply that individual human potential isnt constrained by our bodies, our biology or even the evolutionary process of natural selection. Theres a pill for that! Nanotechnology, biotechnology, information technology and cognitive science sometimes abbreviated NBIC are at the frontier of scientific advancement, pushing the limits of whats physically and mentally possible. One day, we might have brain-computer interfaces, blending artificial and natural intelligence, perfecting our memories and infinitely expanding the scope of our knowledge. We might have pills to induce a state of bliss. Who knows? The purely technical obstacles to transhumanism Id say are diminishing, David Pearce, co-founder of the World Transhumanist Association (WTA), now known as Humanity+, has said. Hes right, to an extent. Using a mix of technologies, human beings are already overcoming their natural limits. Death may be a condition for all living beings now, but maybe not for the creatures we may become or create. Story continues Already, there are several for-profit corporations and nonprofit organizations that freeze human cadavers, of once-living people who hope to rise again in the near future when science has found a solution for disease, depression and death. New York University scholar of digital culture Finn Brunton called these people extropians, and chronicled the associations between cryptogenics and crypto. More from Future of Money Week: 7 Wild Scenarios for the Future of Money - Jeff Wilser The Downside of Programmable Money - Marc Hochstein Ethereum in 2022: What Is Money in the Metaverse? - Edward Oosterbaan The Future of Money: A History - Dan Jeffries Who Sets the Rules of Bitcoin as Nation-States and Corps Roll In - David Z. Morris Not able to know the state of the world theyd be born into, the temporarily dead need money that could outlast banks and even governments. Many were of a libertarian bent and thought the U.S. dollar was due to collapse. But you dont need to be a futurist to think bitcoin will persist as long as the internet does. Sufficiently decentralized, bitcoin isnt a hedge against inflation but societal collapse (in theory). All of this seems like a gamble. But stay with me, and hold the ethical phone. Transhumanism literally beyond human is as focused on setting artificial limits around the human condition as it is about additive technologies. Pearce, for one, looks to genetics as the realm for creating perfect human subjects. He notes that when he founded the WTA, the human genome wasnt even decoded. Every year since then weve learned more about the basic building blocks of life and eventually will be able to arrange them how we please. And why wouldnt we choose perfection? The morphological freedom to design babies to have favorable traits to be smarter, more athletic, more outgoing than their peers means identifying and dismantling bad genes. Its literally artificial selection. In a similar way, Bitcoin founder Satoshi Nakamoto imposed an arbitrary limit around his monetary creation 21 million BTC. Some maximalists envision a world where all economic activity flows through the Bitcoin network, which would outcompete other currencies. Bitcoin has some advantages over the fiat system: Its borderless, censorship-resistant and has settlement finality. Its only grown in value since being released to the world. And, more importantly, its bigger than any government can control. See also: The World Bitcoin Will Build | Cory Klippsten In both instances of transhumanism and hyperbitcoinization, a tiny elite would rule. Bitcoin scarcity means that not everyone can share equally in the wealth, and its deflationary attributes reward the earliest adopters. Meanwhile, although Pearce and many transhumanists are broadly utilitarian and advocate for whatever would create the happiest humans (sometimes animals) in the future, hes not a redistributionist. In his book, The Hedonistic Imperative, Pearce argues that the world would be better if everyone was more like Microsoft co-founder Bill Gates, rich and blessed with good genes. Whatever Gates-like post-human comes next, which we will create using the most transformative technologies, would mean the rest of humanity is obsolete unable to compete. Not every bitcoiner is a transhumanist, and not every transhumanist is a eugenicist , but its worth looking at how the movements relate and speak to each other. One lesson from a decade of crypto innovation isnt whether something is technologically possible but whether there is the social and cultural will. What might be most Lindy of all is knowing that technology always an extension of the self may always escape our control. || The Transhumanist Case for Crypto: If you want to live forever, you need a money fit for purpose. Bitcoin, for many, is the ticket. It’s the first, largest and most decentralized cryptocurrency. It’s widely adopted – from retail investors to pension funds to nation-states. It has a durable brand. There’s a case to be made that it’s the most recent “Lindy” invention, the idea that ancient phenomena are less perishable by virtue of being around the longest.
But who would want to live forever? As a historical fact, it turns out, many early adopters of cryptocurrency, that’s who! How fitting! Transhumanists, a broad category of people who want to improve the human condition – extending life or extinguishing death, spreading happiness and eradicating suffering through technology – looked at bitcoin as a powerful tool in their arsenal.
This article, part of CoinDesk’sFuture of Money Week, is excerpted from The Node newsletter, CoinDesk’s daily roundup of blockchain and crypto news. You can subscribe to get the fullnewsletter here.
It’s not necessary to name names here, but many of crypto’s earliest advocates had ties to the transhumanist movement. Many influential “crypto natives” still do. There are many flavors of transhumanism: Posthuman, cyborgism, immoralism, biohackers, the singularity are all close cognates. The overriding idea is simply that individual human potential isn’t constrained by our bodies, our biology or even the evolutionary process of natural selection. There’s a pill for that!
Nanotechnology, biotechnology, information technology and cognitive science – sometimes abbreviated NBIC – are at the frontier of scientific advancement, pushing the limits of what’s physically and mentally possible. One day, we might have brain-computer interfaces, blending artificial and natural intelligence, perfecting our memories and infinitely expanding the scope of our knowledge. We might have pills to induce a state of bliss. Who knows?
“The purely technical obstacles to transhumanism I’d say are diminishing,” David Pearce, co-founder of the World Transhumanist Association (WTA), now known as Humanity+, has said. He’s right, to an extent. Using a mix of technologies, human beings are already overcoming their natural limits. Death may be a condition for all living beings now, but maybe not for the creatures we may become – or create.
Already, there are several for-profit corporations and nonprofit organizations that freeze human cadavers, of once-living people who hope to rise again in the near future when science has found a solution for disease, depression and death. New York University scholar of digital culture Finn Bruntoncalledthese people “extropians,” and chronicled the associations between cryptogenics and crypto.
7 Wild Scenarios for the Future of Money - Jeff Wilser
The Downside of Programmable Money - Marc Hochstein
Ethereum in 2022: What Is Money in the Metaverse? -Edward Oosterbaan
The Future of Money: A History - Dan Jeffries
Who Sets the Rules of Bitcoin as Nation-States and Corps Roll In - David Z. Morris
Not able to know the state of the world they’d be born into, the “temporarily” dead need money that could outlast banks and even governments. Many were of a libertarian bent and thought the U.S. dollar was due to collapse. But you don’t need to be a futurist to think bitcoin will persist as long as the internet does. Sufficiently decentralized, bitcoin isn’t a hedge against inflation but societal collapse (in theory).
All of this seems like a gamble. But stay with me, and hold the ethical phone.
Transhumanism – literally “beyond human” – is as focused on setting artificial limits around the human condition as it is about additive technologies. Pearce, for one, looks to genetics as the realm for creating perfect human subjects. He notes that when he founded the WTA, the human genome wasn’t even decoded. Every year since then we’ve learned more about the basic building blocks of life – and eventually will be able to arrange them how we please. And why wouldn’t we choose perfection?
The “morphological freedom” to design babies to have favorable traits – to be smarter, more athletic, more outgoing than their peers – means identifying and dismantling bad genes. It’s literally artificial selection. In a similar way, Bitcoin founder Satoshi Nakamoto imposed an arbitrary limit around his monetary creation – 21 million BTC.
Some maximalists envision a world where all economic activity flows through the Bitcoin network, which would outcompete other currencies. Bitcoin has some advantages over the fiat system: It’s borderless, censorship-resistant and has settlement finality. It’s only grown in value since being released to the world. And, more importantly, it’s bigger than any government can control.
See also:The World Bitcoin Will Build | Cory Klippsten
In both instances of transhumanism and hyperbitcoinization, a tiny elite would rule. Bitcoin scarcity means that not everyone can share equally in the wealth, and its deflationary attributes reward the earliest adopters. Meanwhile, although Pearce and many transhumanists are broadly utilitarian and advocate for whatever would create the happiest humans (sometimes animals) in the future, he’s not a redistributionist.
In his book, “The Hedonistic Imperative,” Pearce argues that the world would be better if everyone was more like Microsoft co-founder Bill Gates, rich and blessed with good genes. Whatever Gates-like post-human comes next, which we will create using the most transformative technologies, would mean the rest ofhumanity is obsolete– unable to compete.
Not every bitcoiner is a transhumanist, and not every transhumanist is aeugenicist, but it’s worth looking at how the movements relate and speak to each other. One lesson from a decade of crypto innovation isn’t whether something is technologically possible – but whether there is the social and cultural will. What might be most Lindy of all is knowing that technology – always an extension of the self – may always escape our control. || HIVE Blockchain Announces Closing of $115,023,000 Bought-Deal Private Placement Financing: NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. This news release constitutes a “designated news release” for the purposes of the Company’s prospectus supplement dated February 2, 2021 to its short form base shelf prospectus dated January 27, 2021. VANCOUVER, British Columbia, Nov. 30, 2021 (GLOBE NEWSWIRE) -- HIVE Blockchain Technologies Ltd. (TSX.V:HIVE) (Nasdaq:HIVE) (FSE:HBF) (the “Company” or “HIVE”) is pleased to announce that it has closed the previously announced bought-deal private placement of 16,670,000 special warrants of the Company (the “Special Warrants”) at a price of $6.00 per Special Warrant for aggregate gross proceeds to the Company of $100,020,000 (the “Offering”) with Stifel GMP as lead underwriter and sole bookrunner, on behalf of a syndicate of underwriters including BMO Capital Markets, Canaccord Genuity Corp. and PI Financial Corp. (collectively, the “Underwriters”). In connection with the closing of the Offering, the Underwriters elected to fully exercise the option granted to them by the Company to increase the size of the Offering by an additional 15% of the Special Warrants sold under the Offering, for an additional 2,500,500 Special Warrants. As a result, the Offering consisted of the sale of an aggregate 19,170,500 Special Warrants for gross proceeds of $115,023,000. The Special Warrants and the underlying Units (defined below) are subject to a statutory hold period of four months and one day in accordance with applicable securities laws. Each Special Warrant entitles the holder thereof to receive, subject to adjustment in certain circumstances and the Penalty Provision (as defined below), and without payment of additional consideration, one (1) unit of the Company (each a “Unit”) upon the exercise or deemed exercise of each Special Warrant. Each Unit consists of one (1) common share of the Company (a “Unit Share”) and one-half (0.5) of one common share purchase warrant (each whole common share purchase warrant, a “Warrant”). Each Warrant entitles the holder thereof to purchase one common share of the Company (a “Warrant Share”) at a price of $6.00 per Warrant Share for a period of 30 months following the closing of the Offering. The Special Warrants will be exercisable by the holders thereof at any time after the Closing Date for no additional consideration. All unexercised Special Warrants shall be deemed exercised on behalf of, and without any required action on the part of, the holders (including payment of additional consideration) on the earlier of: Story continues (i) the second business day following the date on which the Company files a prospectus supplement after a receipt is issued for an amended and restated (final) short form base shelf prospectus by the British Columbia Securities Commission (the “BCSC”), as principal regulator on behalf of the securities regulatory authorities in each Province of Canada, except Québec, qualifying the distribution of the Unit Shares and Warrants to be issued upon exercise of the Special Warrants (the “Qualification Date”); and (ii) 4:59 p.m. (Toronto time) on the date which is four months and a day following the Closing Date (the “Qualification Deadline”). In the event the Qualification Date has not occurred on or before January 7, 2022 (the “Penalty Date”), each outstanding Special Warrant shall thereafter entitle the holder to receive, upon the exercise or deemed exercise of each Special Warrant, for no additional consideration, 1.1 Units (the “Penalty Provision”). The net proceeds of the Offering shall be primarily used to support growth of the Company’s business and for working capital requirements and other general corporate purposes. “We are very pleased that this private placement included both institutions and broad retail distribution with over 100 new shareholders becoming part of our HIVE community,” comments Frank Holmes, HIVE’s Executive Chairman. “These funds will allow us to HODL our Bitcoin and Ether supply while expanding our production to 3 Exahash in the early part of 2022. Also important was BMO’s participation, making it the first major Canadian bank to participate in a crypto data center equity financing.” In connection with the Offering, the Underwriters received a cash commission equal to 6% of the gross proceeds of the Offering. The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and accordingly, may not be offered or sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This press release does not constitute an offer to sell or a solicitation to buy any securities in any jurisdiction. Resignation of Director The Company also announces that Tobias Ebel has resigned as a director of the Company due to other business commitments and time demands. The Company would like to thank Mr. Ebel for his hard work and contributions to the HIVE board. About HIVE Blockchain Technologies Ltd. HIVE Blockchain Technologies Ltd. went public in 2017 as the first cryptocurrency mining company with a green energy and ESG strategy. HIVE is a growth-oriented technology stock in the emergent blockchain industry. As a company whose shares trade on a major stock exchange, we are building a bridge between the digital currency and blockchain sector and traditional capital markets. HIVE owns state-of-the-art, green energy-powered data centre facilities in Canada, Sweden, and Iceland, where we source only green energy to mine on the cloud and HODL both Ethereum and Bitcoin. Since the beginning of 2021, HIVE has held in secure storage the majority of its ETH and BTC coin mining rewards. Our shares provide investors with exposure to the operating margins of digital currency mining, as well as a portfolio of cryptocurrencies such as ETH and BTC. Because HIVE also owns hard assets such as data centers and advanced multi-use servers, we believe our shares offer investors an attractive way to gain exposure to the cryptocurrency space. We encourage you to visit HIVE’s YouTube channel here to learn more about HIVE. For more information and to register to HIVE’s mailing list, please visit www.HIVEblockchain.com . Follow @HIVEblockchain on Twitter and subscribe to HIVE’s YouTube channel . On Behalf of HIVE Blockchain Technologies Ltd. “Frank Holmes” Executive Chairman For further information please contact: Frank Holmes Tel: (604) 664-1078 Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release Forward-Looking Information Except for the statements of historical fact, this news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates and projections as at the date of this news release. “Forward-looking information” in this news release includes, but is not limited to, statements with respect to information about the Offering and the use of proceeds, the issuance of a final receipt by the BCSC in connection with the amended and restated (final) short form base shelf prospectus, the filing of the prospectus supplement with the BCSC, potential dilution and application of the Penalty Provision; business goals and objectives of the Company; and other forward-looking information concerning the intentions, plans and future actions of the parties to the transactions described herein and the terms thereon. Factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to, the volatility of the digital currency market; the Company’s ability to successfully mine digital currency; the Company may not be able to profitably liquidate its current digital currency inventory as required, or at all; a material decline in digital currency prices may have a significant negative impact on the Company’s operations; the volatility of digital currency prices; continued effects of the COVID-19 pandemic may have a material adverse effect on the Company’s performance as supply chains are disrupted and prevent the Company from carrying out its expansion plans or operating its assets; and other related risks as more fully set out in the registration statement of Company and other documents disclosed under the Company’s filings at www.sec.gov/EDGAR and www.sedar.com . The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. In connection with the forward-looking information contained in this news release, the Company has made assumptions about the Company’s ability to deploy the proceeds of the Offering to achieve corporate objectives or otherwise advance the progress of the Company, and the Company’s objectives, goals or future plans, the timing thereof and related matters. The Company has also assumed that no significant events occur outside of the Company's normal course of business. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein. || HIVE Blockchain Announces Closing of $115,023,000 Bought-Deal Private Placement Financing: NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. This news release constitutes a “designated news release” for the purposes of the Company’s prospectus supplement dated February 2, 2021 to its short form base shelf prospectus dated January 27, 2021. VANCOUVER, British Columbia, Nov. 30, 2021 (GLOBE NEWSWIRE) -- HIVE Blockchain Technologies Ltd. (TSX.V:HIVE) (Nasdaq:HIVE) (FSE:HBF) (the “Company” or “HIVE”) is pleased to announce that it has closed the previously announced bought-deal private placement of 16,670,000 special warrants of the Company (the “Special Warrants”) at a price of $6.00 per Special Warrant for aggregate gross proceeds to the Company of $100,020,000 (the “Offering”) with Stifel GMP as lead underwriter and sole bookrunner, on behalf of a syndicate of underwriters including BMO Capital Markets, Canaccord Genuity Corp. and PI Financial Corp. (collectively, the “Underwriters”). In connection with the closing of the Offering, the Underwriters elected to fully exercise the option granted to them by the Company to increase the size of the Offering by an additional 15% of the Special Warrants sold under the Offering, for an additional 2,500,500 Special Warrants. As a result, the Offering consisted of the sale of an aggregate 19,170,500 Special Warrants for gross proceeds of $115,023,000. The Special Warrants and the underlying Units (defined below) are subject to a statutory hold period of four months and one day in accordance with applicable securities laws. Each Special Warrant entitles the holder thereof to receive, subject to adjustment in certain circumstances and the Penalty Provision (as defined below), and without payment of additional consideration, one (1) unit of the Company (each a “Unit”) upon the exercise or deemed exercise of each Special Warrant. Each Unit consists of one (1) common share of the Company (a “Unit Share”) and one-half (0.5) of one common share purchase warrant (each whole common share purchase warrant, a “Warrant”). Each Warrant entitles the holder thereof to purchase one common share of the Company (a “Warrant Share”) at a price of $6.00 per Warrant Share for a period of 30 months following the closing of the Offering. The Special Warrants will be exercisable by the holders thereof at any time after the Closing Date for no additional consideration. All unexercised Special Warrants shall be deemed exercised on behalf of, and without any required action on the part of, the holders (including payment of additional consideration) on the earlier of: Story continues (i) the second business day following the date on which the Company files a prospectus supplement after a receipt is issued for an amended and restated (final) short form base shelf prospectus by the British Columbia Securities Commission (the “BCSC”), as principal regulator on behalf of the securities regulatory authorities in each Province of Canada, except Québec, qualifying the distribution of the Unit Shares and Warrants to be issued upon exercise of the Special Warrants (the “Qualification Date”); and (ii) 4:59 p.m. (Toronto time) on the date which is four months and a day following the Closing Date (the “Qualification Deadline”). In the event the Qualification Date has not occurred on or before January 7, 2022 (the “Penalty Date”), each outstanding Special Warrant shall thereafter entitle the holder to receive, upon the exercise or deemed exercise of each Special Warrant, for no additional consideration, 1.1 Units (the “Penalty Provision”). The net proceeds of the Offering shall be primarily used to support growth of the Company’s business and for working capital requirements and other general corporate purposes. “We are very pleased that this private placement included both institutions and broad retail distribution with over 100 new shareholders becoming part of our HIVE community,” comments Frank Holmes, HIVE’s Executive Chairman. “These funds will allow us to HODL our Bitcoin and Ether supply while expanding our production to 3 Exahash in the early part of 2022. Also important was BMO’s participation, making it the first major Canadian bank to participate in a crypto data center equity financing.” In connection with the Offering, the Underwriters received a cash commission equal to 6% of the gross proceeds of the Offering. The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and accordingly, may not be offered or sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This press release does not constitute an offer to sell or a solicitation to buy any securities in any jurisdiction. Resignation of Director The Company also announces that Tobias Ebel has resigned as a director of the Company due to other business commitments and time demands. The Company would like to thank Mr. Ebel for his hard work and contributions to the HIVE board. About HIVE Blockchain Technologies Ltd. HIVE Blockchain Technologies Ltd. went public in 2017 as the first cryptocurrency mining company with a green energy and ESG strategy. HIVE is a growth-oriented technology stock in the emergent blockchain industry. As a company whose shares trade on a major stock exchange, we are building a bridge between the digital currency and blockchain sector and traditional capital markets. HIVE owns state-of-the-art, green energy-powered data centre facilities in Canada, Sweden, and Iceland, where we source only green energy to mine on the cloud and HODL both Ethereum and Bitcoin. Since the beginning of 2021, HIVE has held in secure storage the majority of its ETH and BTC coin mining rewards. Our shares provide investors with exposure to the operating margins of digital currency mining, as well as a portfolio of cryptocurrencies such as ETH and BTC. Because HIVE also owns hard assets such as data centers and advanced multi-use servers, we believe our shares offer investors an attractive way to gain exposure to the cryptocurrency space. We encourage you to visit HIVE’s YouTube channel here to learn more about HIVE. For more information and to register to HIVE’s mailing list, please visit www.HIVEblockchain.com . Follow @HIVEblockchain on Twitter and subscribe to HIVE’s YouTube channel . On Behalf of HIVE Blockchain Technologies Ltd. “Frank Holmes” Executive Chairman For further information please contact: Frank Holmes Tel: (604) 664-1078 Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release Forward-Looking Information Except for the statements of historical fact, this news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates and projections as at the date of this news release. “Forward-looking information” in this news release includes, but is not limited to, statements with respect to information about the Offering and the use of proceeds, the issuance of a final receipt by the BCSC in connection with the amended and restated (final) short form base shelf prospectus, the filing of the prospectus supplement with the BCSC, potential dilution and application of the Penalty Provision; business goals and objectives of the Company; and other forward-looking information concerning the intentions, plans and future actions of the parties to the transactions described herein and the terms thereon. Factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to, the volatility of the digital currency market; the Company’s ability to successfully mine digital currency; the Company may not be able to profitably liquidate its current digital currency inventory as required, or at all; a material decline in digital currency prices may have a significant negative impact on the Company’s operations; the volatility of digital currency prices; continued effects of the COVID-19 pandemic may have a material adverse effect on the Company’s performance as supply chains are disrupted and prevent the Company from carrying out its expansion plans or operating its assets; and other related risks as more fully set out in the registration statement of Company and other documents disclosed under the Company’s filings at www.sec.gov/EDGAR and www.sedar.com . The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. In connection with the forward-looking information contained in this news release, the Company has made assumptions about the Company’s ability to deploy the proceeds of the Offering to achieve corporate objectives or otherwise advance the progress of the Company, and the Company’s objectives, goals or future plans, the timing thereof and related matters. The Company has also assumed that no significant events occur outside of the Company's normal course of business. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein. || Stock Market Today: Dow Drops 652 Points After Powell Signals Faster Taper: Federal Reserve Board Chairman Jerome Powell testifies during a Nov. 30 hearing in front of the Senate Banking, Housing and Urban Affairs Committee on Capitol Hill in Washington, D.C. Getty Images The Wall Street pendulum swung back to selling early Tuesday amid the growing COVID omicron threat and a surprising cue from the Fed. Seemingly setting up today's actions was Jake Wujastyk, chief market analyst for technical analysis software firm TrendSpider, who told Kiplinger late Monday that "This week will be all about digesting the current scientific information available and seeing if lockdowns or mandates come back into play," adding that Federal Reserve Chair Jerome Powell's multiple speaking engagements this week could also be a market mover. SEE MORE 2022's Best Mutual Funds in 401(k) Retirement Plans He was correct on both counts. Triggering Tuesday's premarket weakness were overnight comments by Moderna ( MRNA , -4.4%) CEO Stéphane Bancel, who told Financial Times he believed there would be a "material drop" in the efficacy of current COVID vaccines against the new strain. But stocks pulled back even further after the Fed chief told the Senate Banking Committee that in light of a strong economy and high inflationary pressures, he considered it appropriate to wrap up the central bank's tapering of asset purchases "perhaps a few months sooner" than originally planned. Sign up for Kiplinger's FREE Investing Weekly e-letter for stock, ETF and mutual fund recommendations, and other investing advice. "The reality is hotter inflation coupled with a strong economic backdrop could end the Fed's bond buying program as early as the first quarter of next year," says Charlie Ripley, senior investment strategist for Allianz Investment Management. "Ultimately, the transitory view on inflation has officially come to an end as Powell's comments reinforced the notion that elevated prices are likely to persist well into next year. With potential changes in policy on the horizon, market participants should expect additional market volatility in this uncharted territory." Story continues The Dow Jones Industrial Average (-1.9% to 34,483) was led lower by the likes of Salesforce.com ( CRM , -4.0%), Travelers ( TRV , -3.6%) and Coca-Cola ( KO , -3.2%). The S&P 500 (-1.9% to 4,567) and Nasdaq (-1.6% to 15,537) also took a tumble. SEE MORE 12 Best Monthly Dividend Stocks and Funds to Buy for 2022 "The travel and tourism trade is struggling the most here given the looming prospect of further travel restrictions going into early 2022," says David Keller, chief market strategist at StockCharts.com. "Hotels, cruise lines, and airlines appear especially vulnerable and are breaking key support levels as investors move their capital elsewhere." stock chart for 113021 YCharts Other news in the stock market today: The small-cap Russell 2000 declined 1.9% to 2,198. U.S. crude futures plunged 5.4% to settle at $66.18 per barrel. Gold futures retreated 0.5% to end at $1,776.50 an ounce. Bitcoin was off 1.0% to $57,555.73. (Bitcoin trades 24 hours a day; prices reported here are as of 4 p.m.) Apple ( AAPL ) was the only Dow stock to finish in the green today, adding 3.2% to close at a record $165.30. Based on its Oct. 29 close at $149.80, AAPL finished November up 10.3%, marking its best monthly performance since June, when it tacked on 9.9%. The stock is certainly well-liked by Wall Street's pros. Of the 44 analysts covering Apple tracked by S&P Global Market Intelligence, 27 say it's a Strong Buy and seven call it a Buy. This compares to eight Holds, one Sell and one Strong Sell. Dollar Tree ( DLTR ) was a notable decliner today, sliding 5.3% after Goldman Sachs analyst Kate McShane downgraded the retail stock to Neutral (Hold) from Buy. The shares jumped more than 9% last week on stronger-than-expected earnings and news of broad price hikes at its stores, and the analyst believes "expected improvements are now priced in the stock." Omicron Puts Investors on Red Alert The omicron variant's largest danger to the market right now is the uncertainty about its danger. SEE MORE Where to Invest in 2022 "Investors fear a worst-case scenario variant that could send many parts of the world back to the dark days of 2020. With many major economies now experiencing cold weather, and lockdowns in some European countries, this would only add to problems and exert downward pressure on stocks, especially more cyclically sensitive equities," says Invesco Chief Global Market Strategist Kristina Hooper, who notes that it will likely be weeks before there's any concrete knowledge to work with. "Sectors that may be better protected include technology , healthcare and utilities ," she adds, while the most vulnerable areas include travel and leisure, general retail and basic materials. That latter sector is the latest focus of Kiplinger's 2022 investing outlook . As of just a few days ago, materials stocks had plenty going for them – namely, a continuing global economic recovery and a gusher of fresh infrastructure spending from the U.S. government. The omicron variant potentially threatens the former. That makes materials tricky to deal with in the short term, but opportunistic investors might want to take advantage of price dips to buy high-quality sector picks like these 12 best material stocks for 2022 . Kyle Woodley was long CRM as of this writing. SEE MORE Best Online Brokers, 2021 You may also like Your Guide to Roth Conversions Resist the Impulse to Buy These 14 Holiday Gifts Should You Take an Extra Big RMD This Year? || Stock Market Today: Dow Drops 652 Points After Powell Signals Faster Taper: Federal Reserve Board Chairman Jerome Powell testifies during a Nov. 30 hearing in front of the Senate Banking, Housing and Urban Affairs Committee on Capitol Hill in Washington, D.C. Getty Images The Wall Street pendulum swung back to selling early Tuesday amid the growing COVID omicron threat and a surprising cue from the Fed. Seemingly setting up today's actions was Jake Wujastyk, chief market analyst for technical analysis software firm TrendSpider, who told Kiplinger late Monday that "This week will be all about digesting the current scientific information available and seeing if lockdowns or mandates come back into play," adding that Federal Reserve Chair Jerome Powell's multiple speaking engagements this week could also be a market mover. SEE MORE 2022's Best Mutual Funds in 401(k) Retirement Plans He was correct on both counts. Triggering Tuesday's premarket weakness were overnight comments by Moderna ( MRNA , -4.4%) CEO Stéphane Bancel, who told Financial Times he believed there would be a "material drop" in the efficacy of current COVID vaccines against the new strain. But stocks pulled back even further after the Fed chief told the Senate Banking Committee that in light of a strong economy and high inflationary pressures, he considered it appropriate to wrap up the central bank's tapering of asset purchases "perhaps a few months sooner" than originally planned. Sign up for Kiplinger's FREE Investing Weekly e-letter for stock, ETF and mutual fund recommendations, and other investing advice. "The reality is hotter inflation coupled with a strong economic backdrop could end the Fed's bond buying program as early as the first quarter of next year," says Charlie Ripley, senior investment strategist for Allianz Investment Management. "Ultimately, the transitory view on inflation has officially come to an end as Powell's comments reinforced the notion that elevated prices are likely to persist well into next year. With potential changes in policy on the horizon, market participants should expect additional market volatility in this uncharted territory." Story continues The Dow Jones Industrial Average (-1.9% to 34,483) was led lower by the likes of Salesforce.com ( CRM , -4.0%), Travelers ( TRV , -3.6%) and Coca-Cola ( KO , -3.2%). The S&P 500 (-1.9% to 4,567) and Nasdaq (-1.6% to 15,537) also took a tumble. SEE MORE 12 Best Monthly Dividend Stocks and Funds to Buy for 2022 "The travel and tourism trade is struggling the most here given the looming prospect of further travel restrictions going into early 2022," says David Keller, chief market strategist at StockCharts.com. "Hotels, cruise lines, and airlines appear especially vulnerable and are breaking key support levels as investors move their capital elsewhere." stock chart for 113021 YCharts Other news in the stock market today: The small-cap Russell 2000 declined 1.9% to 2,198. U.S. crude futures plunged 5.4% to settle at $66.18 per barrel. Gold futures retreated 0.5% to end at $1,776.50 an ounce. Bitcoin was off 1.0% to $57,555.73. (Bitcoin trades 24 hours a day; prices reported here are as of 4 p.m.) Apple ( AAPL ) was the only Dow stock to finish in the green today, adding 3.2% to close at a record $165.30. Based on its Oct. 29 close at $149.80, AAPL finished November up 10.3%, marking its best monthly performance since June, when it tacked on 9.9%. The stock is certainly well-liked by Wall Street's pros. Of the 44 analysts covering Apple tracked by S&P Global Market Intelligence, 27 say it's a Strong Buy and seven call it a Buy. This compares to eight Holds, one Sell and one Strong Sell. Dollar Tree ( DLTR ) was a notable decliner today, sliding 5.3% after Goldman Sachs analyst Kate McShane downgraded the retail stock to Neutral (Hold) from Buy. The shares jumped more than 9% last week on stronger-than-expected earnings and news of broad price hikes at its stores, and the analyst believes "expected improvements are now priced in the stock." Omicron Puts Investors on Red Alert The omicron variant's largest danger to the market right now is the uncertainty about its danger. SEE MORE Where to Invest in 2022 "Investors fear a worst-case scenario variant that could send many parts of the world back to the dark days of 2020. With many major economies now experiencing cold weather, and lockdowns in some European countries, this would only add to problems and exert downward pressure on stocks, especially more cyclically sensitive equities," says Invesco Chief Global Market Strategist Kristina Hooper, who notes that it will likely be weeks before there's any concrete knowledge to work with. "Sectors that may be better protected include technology , healthcare and utilities ," she adds, while the most vulnerable areas include travel and leisure, general retail and basic materials. That latter sector is the latest focus of Kiplinger's 2022 investing outlook . As of just a few days ago, materials stocks had plenty going for them – namely, a continuing global economic recovery and a gusher of fresh infrastructure spending from the U.S. government. The omicron variant potentially threatens the former. That makes materials tricky to deal with in the short term, but opportunistic investors might want to take advantage of price dips to buy high-quality sector picks like these 12 best material stocks for 2022 . Kyle Woodley was long CRM as of this writing. SEE MORE Best Online Brokers, 2021 You may also like Your Guide to Roth Conversions Resist the Impulse to Buy These 14 Holiday Gifts Should You Take an Extra Big RMD This Year? || Market Wrap: Bitcoin Underperforms as Ether and Other Altcoins Rise: Bitcoin was roughly flat on Tuesday while alternative cryptocurrencies such as ether and Solana’s SOL token were up about 5% over the past 24 hours. LUNA, the native token of the Terra blockchain, rallied about 13% as traders chasedincentive programs.
Overall, trading conditions were choppy across global markets after the U.S. Federal Reserve Chair Jerome Powellsuggestedthat monetary policy could tighten faster than expected – potentially a negative for speculative assets, including cryptocurrencies and equities.
Despite short-term price swings, some analysts remain bullish on bitcoin.
• Bitcoin (BTC): $57,622, -1.0%
• Ether (ETH): $4,661, +5.4%
• S&P 500: 4,567, -1.9%
• Gold: $1,775, -0.5%
• 10-year Treasury yield closed at 1.436%
“As BTC is looking good to close November below the expected target of $60,000, investors are optimistic that the cryptocurrency will repeat its historic trend of ending the year on a stellar bullish note,” Nikita Rudenia, co-founder of asset management firm 8848 Invest, wrote in an email to CoinDesk. Rudenia has a $70,000 BTC price target by the end of this year.
Other analysts pointed to bearish bitcoin options activity as a point of concern. “Putsare getting more expensive as market participants turn their focus towards hedging spot [positions] or speculating on further downside.In a recent tweet, Genesis Volatility themselves noted a large amount of short-term put purchases,” Delphi Digital wrote in a Tuesday blog post.
Bitcoin’s market capitalization relative to the total crypto market capitalization, or dominance ratio, has declined about 10% over the past two months to the lowest level since September. The decline in BTC’s dominance reflects the recent outperformance of alternative cryptocurrencies (altcoins).
Some analysts view the rotation from bitcoin to altcoins as an indicator of greater appetite for risk among investors.
Ether, the world’s second-largest cryptocurrency by market capitalization, was approaching $4,800, near its all-time high, and was up about 5% over the past 24 hours. BTC was roughly flat over the same period. Technical indicators suggest further upside is likely for ether relative to bitcoin.
The chart below shows the ETH/BTC ratio, which is attempting to break above a five-month trading range. Two consecutive daily closes above 0.080 could yield further upside in ETH/BTC.
• Grayscale launches new trust dedicated to Solana:Digital asset manager Grayscale Investments announced its newest investment vehicle will be passively invested in Solana,reported CoinDesk’s Jamie Crawley. This marks the firm’s 16th investment vehicle, following similar products that offer exposure to bitcoin, ether, bitcoin cash, litecoin and stellar lumens. SOL has enjoyed huge growth in 2021, increasing from around $1.50 at the start of the year to $214 as of Tuesday morning. Grayscale is a subsidiary of Digital Currency Group (DCG), the parent company of CoinDesk.
• November’s biggest gainer isCrypto.com’s CRO token:Crypto.com’s CRO token more than tripled in November after a slew of prominent advertising deals, which include buying the naming rights to the Staples Center,reported CoinDesk’s Lyllah Ledesma. The cryptocurrency exchange and credit-card issuer founded in 2016 now has a market cap of more than $17 billion, making it the top performer in November among digital assets with a market cap above $10 billion, according to Messari. As of Tuesday, the CRO price was around $0.70, up 226% on the month.
• Cook Finance launches DeFi Index platform on Avalanche:Decentralized asset-management platform Cook Financeis bringing a suite of decentralized finance (DeFi) indexes to Avalanche.Similar to index products in traditional finance, Cook’s index products are composed of a list of tokens and track the performance of the underlying assets, making it easier for investors to buy a diversified allocation of cryptocurrencies in a single transaction. “We see this launch as providing an easy way for new users who want to get into DeFi indexes but were held back by high gas fees on Ethereum,” said Adrian Peng, CEO of Cook Finance.
• Coinbase Acquires Cryptographic Security Firm Unbound for Undisclosed Sum
• Huobi Tech Launches Crypto Lending Services in Hong Kong
• Yellen Says Stablecoins Require Proper Regulations
Most digital assets in the CoinDesk 20 ended the day higher.
Notable winners as of 21:00 UTC (4:00 p.m. ET):
• Ethereum (ETH): +5.5%
• Polkadot (DOT): + 4.9%
Notable losers:
• The Graph (GRT): -4.7%
• Filecoin (FIL): -2.9% || Market Wrap: Bitcoin Underperforms as Ether and Other Altcoins Rise: Bitcoin was roughly flat on Tuesday while alternative cryptocurrencies such as ether and Solana’s SOL token were up about 5% over the past 24 hours. LUNA, the native token of the Terra blockchain, rallied about 13% as traders chased incentive programs . Overall, trading conditions were choppy across global markets after the U.S. Federal Reserve Chair Jerome Powell suggested that monetary policy could tighten faster than expected – potentially a negative for speculative assets, including cryptocurrencies and equities. Despite short-term price swings, some analysts remain bullish on bitcoin. Latest prices Bitcoin (BTC): $57,622, -1.0% Ether (ETH): $4,661, +5.4% S&P 500: 4,567, -1.9% Gold: $1,775, -0.5% 10-year Treasury yield closed at 1.436% “As BTC is looking good to close November below the expected target of $60,000, investors are optimistic that the cryptocurrency will repeat its historic trend of ending the year on a stellar bullish note,” Nikita Rudenia, co-founder of asset management firm 8848 Invest, wrote in an email to CoinDesk. Rudenia has a $70,000 BTC price target by the end of this year. Other analysts pointed to bearish bitcoin options activity as a point of concern. “ Puts are getting more expensive as market participants turn their focus towards hedging spot [positions] or speculating on further downside. In a recent tweet , Genesis Volatility themselves noted a large amount of short-term put purchases,” Delphi Digital wrote in a Tuesday blog post. Bitcoin dominance falls Bitcoin’s market capitalization relative to the total crypto market capitalization, or dominance ratio, has declined about 10% over the past two months to the lowest level since September. The decline in BTC’s dominance reflects the recent outperformance of alternative cryptocurrencies (altcoins). Some analysts view the rotation from bitcoin to altcoins as an indicator of greater appetite for risk among investors. Bitcoin dominance ratio (CoinDesk, TradingView) Ether outperforms Ether, the world’s second-largest cryptocurrency by market capitalization, was approaching $4,800, near its all-time high, and was up about 5% over the past 24 hours. BTC was roughly flat over the same period. Technical indicators suggest further upside is likely for ether relative to bitcoin. The chart below shows the ETH/BTC ratio, which is attempting to break above a five-month trading range. Two consecutive daily closes above 0.080 could yield further upside in ETH/BTC. ETH/BTC ratio (Damanick Dantes/CoinDesk, TradingView) Altcoin roundup Grayscale launches new trust dedicated to Solana: Digital asset manager Grayscale Investments announced its newest investment vehicle will be passively invested in Solana, reported CoinDesk’s Jamie Crawley . This marks the firm’s 16th investment vehicle, following similar products that offer exposure to bitcoin, ether, bitcoin cash, litecoin and stellar lumens. SOL has enjoyed huge growth in 2021, increasing from around $1.50 at the start of the year to $214 as of Tuesday morning. Grayscale is a subsidiary of Digital Currency Group (DCG), the parent company of CoinDesk. November’s biggest gainer is Crypto.com ’s CRO token: Crypto.com ’s CRO token more than tripled in November after a slew of prominent advertising deals, which include buying the naming rights to the Staples Center, reported CoinDesk’s Lyllah Ledesma . The cryptocurrency exchange and credit-card issuer founded in 2016 now has a market cap of more than $17 billion, making it the top performer in November among digital assets with a market cap above $10 billion, according to Messari. As of Tuesday, the CRO price was around $0.70, up 226% on the month. Cook Finance launches DeFi Index platform on Avalanche: Decentralized asset-management platform Cook Finance is bringing a suite of decentralized finance (DeFi) indexes to Avalanche. Similar to index products in traditional finance, Cook’s index products are composed of a list of tokens and track the performance of the underlying assets, making it easier for investors to buy a diversified allocation of cryptocurrencies in a single transaction. “We see this launch as providing an easy way for new users who want to get into DeFi indexes but were held back by high gas fees on Ethereum,” said Adrian Peng, CEO of Cook Finance. Story continues Relevant news Coinbase Acquires Cryptographic Security Firm Unbound for Undisclosed Sum Huobi Tech Launches Crypto Lending Services in Hong Kong Yellen Says Stablecoins Require Proper Regulations Other markets Most digital assets in the CoinDesk 20 ended the day higher. Notable winners as of 21:00 UTC (4:00 p.m. ET): Ethereum (ETH): +5.5% Polkadot (DOT): + 4.9% Notable losers: The Graph (GRT): -4.7% Filecoin (FIL): -2.9% View comments
[Social Media Buzz]
None available.
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56477.82, 53598.25, 49200.70, 49368.85, 50582.62, 50700.09, 50504.80, 47672.12, 47243.30, 49362.51
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Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 7879.07, 8166.55, 8037.54, 8192.49, 8144.19, 8827.76, 8807.01, 8723.79, 8929.04, 8942.81, 8706.25, 8657.64, 8745.89, 8680.88, 8406.52, 8445.43, 8367.85, 8596.83, 8909.82, 9358.59, 9316.63, 9508.99, 9350.53, 9392.88, 9344.37, 9293.52, 9180.96, 9613.42, 9729.80, 9795.94, 9865.12, 10116.67, 9856.61, 10208.24, 10326.05, 10214.38, 10312.12, 9889.42, 9934.43, 9690.14, 10142.00, 9633.39, 9608.48, 9686.44, 9663.18, 9924.52, 9650.17, 9341.71, 8820.52, 8784.49, 8672.46, 8599.51, 8562.45, 8869.67, 8787.79, 8755.25, 9078.76, 9122.55, 8909.95, 8108.12, 7923.64, 7909.73, 7911.43, 4970.79, 5563.71, 5200.37, 5392.31, 5014.48, 5225.63, 5238.44, 6191.19, 6198.78, 6185.07, 5830.25, 6416.31, 6734.80, 6681.06, 6716.44, 6469.80, 6242.19, 5922.04, 6429.84, 6438.64, 6606.78, 6793.62, 6733.39, 6867.53, 6791.13, 7271.78, 7176.41.
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[Bitcoin Technical Analysis for 2020-04-07]
Volume: 44243482668, RSI (14-day): 55.57, 50-day EMA: 7237.50, 200-day EMA: 8052.12
[Wider Market Context]
Gold Price: 1664.80, Gold RSI: 58.32
Oil Price: 23.63, Oil RSI: 38.91
[Recent News (last 7 days)]
BitMEX operator commits $400K to cybersecurity nonprofit Shadowserver: HDR Global Trading, the operator of cryptocurrency exchange BitMEX, has offered a $400,000 grant to nonprofit security organization Shadowserver Foundation.
Started in 2004,Shadowservercollects and analyzes Internet security data daily to help service providers identify and address malicious activities. As shown on its website, the nonprofit is currently offering Internet data reports to over 4,800 network owners and 109 national computer emergency response teams across 138 countries.
In a Mondaystatement, HDR Global Trading announced that it would offer the nonprofit $400,000 over the next four years as a member of the organization's new industry alliance for Internet security.
"Shadowserver is an extremely highly regarded player in the botnet defense community," Samuel Reed, HDR's co-founder and chief technology officer, said in a statement. "Cross-industry collaboration is going to be essential to the future security of the Internet at large, and not least the cryptocurrency industry. We're keen to play our part championing security over the long term by supporting such a brilliant organisation."
Last week, HDR Group Tradingcommitted$100,000 to support the work of Bitcoin Core maintainer Michael Ford. The company also previously donated to the MIT Digital Currency Initiative in 2019 to assist the work of developers there, especially Bitcoin Core developers Wladimir van der Laan and Cory Fields. || BitMEX operator commits $400K to cybersecurity nonprofit Shadowserver: HDR Global Trading, the operator of cryptocurrency exchange BitMEX, has offered a $400,000 grant to nonprofit security organization Shadowserver Foundation. Started in 2004, Shadowserver collects and analyzes Internet security data daily to help service providers identify and address malicious activities. As shown on its website, the nonprofit is currently offering Internet data reports to over 4,800 network owners and 109 national computer emergency response teams across 138 countries. In a Monday statement , HDR Global Trading announced that it would offer the nonprofit $400,000 over the next four years as a member of the organization's new industry alliance for Internet security. "Shadowserver is an extremely highly regarded player in the botnet defense community," Samuel Reed, HDR's co-founder and chief technology officer, said in a statement. "Cross-industry collaboration is going to be essential to the future security of the Internet at large, and not least the cryptocurrency industry. We're keen to play our part championing security over the long term by supporting such a brilliant organisation." Last week, HDR Group Trading committed $100,000 to support the work of Bitcoin Core maintainer Michael Ford. The company also previously donated to the MIT Digital Currency Initiative in 2019 to assist the work of developers there, especially Bitcoin Core developers Wladimir van der Laan and Cory Fields. || Bitcoin, Ethereum & Litecoin - American Wrap: 4/6/2020: Bitcoin Shoots Back Above $7000 Jumping A Chunky 7%
The price via the 60-minute chart view had been narrowing for most of the day, trading conditions were very much tight. Given the price behavior is was prone to a breakout, having formed a bullish pennant structure.
Market bulls were able to capitalize on this, which invited the most recent strong wave of buying pressure. BTC/USD jumped up to the highest levels that have been seen since 12 March, when the price had been hit at the time by some strong selling.
Ethereum Price Prediction: ETH/USD Running At Four Straight Days Of Gains As The Bulls Maintain Hope
Ethereum price is trading in the green by 0.40% in the session on Wednesday.
ETH/USD is running towards four consecutive days in the green, despite the narrowing.
Upside is largely limited by supply at the $140 price mark.
Litecoin Price Forecast: LTC/USD Must Break Down And Hold Above To Avoid Another Steep Fall
Litecoin price is trading in positive territory by 3.55 % in the session on Thursday.
LTC/USD at present is edging towards another day in the green, which would mark the fourth.
The price continues to be limited to the upside by the barrier at the psychological $40 mark.
Image source from Pixabay
See more from Benzinga
• Bitcoin, Ethereum & Litecoin - American Wrap: 4/2/2020
• Bitcoin, Ethereum & Litecoin - American Wrap: 4/1/2020
• Bitcoin, Ethereum & Litecoin - American Wrap: 3/31/20
© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Bitcoin, Ethereum & Litecoin - American Wrap: 4/6/2020: Bitcoin Shoots Back Above $7000 Jumping A Chunky 7% The price via the 60-minute chart view had been narrowing for most of the day, trading conditions were very much tight. Given the price behavior is was prone to a breakout, having formed a bullish pennant structure. Market bulls were able to capitalize on this, which invited the most recent strong wave of buying pressure. BTC/USD jumped up to the highest levels that have been seen since 12 March, when the price had been hit at the time by some strong selling. Ethereum Price Prediction: ETH/USD Running At Four Straight Days Of Gains As The Bulls Maintain Hope Ethereum price is trading in the green by 0.40% in the session on Wednesday. ETH/USD is running towards four consecutive days in the green, despite the narrowing. Upside is largely limited by supply at the $140 price mark. Litecoin Price Forecast: LTC/USD Must Break Down And Hold Above To Avoid Another Steep Fall Litecoin price is trading in positive territory by 3.55 % in the session on Thursday. LTC/USD at present is edging towards another day in the green, which would mark the fourth. The price continues to be limited to the upside by the barrier at the psychological $40 mark. Image source from Pixabay See more from Benzinga Bitcoin, Ethereum & Litecoin - American Wrap: 4/2/2020 Bitcoin, Ethereum & Litecoin - American Wrap: 4/1/2020 Bitcoin, Ethereum & Litecoin - American Wrap: 3/31/20 © 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Bitcoin, Ethereum & Litecoin - American Wrap: 4/6/2020: Bitcoin Shoots Back Above $7000 Jumping A Chunky 7%
The price via the 60-minute chart view had been narrowing for most of the day, trading conditions were very much tight. Given the price behavior is was prone to a breakout, having formed a bullish pennant structure.
Market bulls were able to capitalize on this, which invited the most recent strong wave of buying pressure. BTC/USD jumped up to the highest levels that have been seen since 12 March, when the price had been hit at the time by some strong selling.
Ethereum Price Prediction: ETH/USD Running At Four Straight Days Of Gains As The Bulls Maintain Hope
Ethereum price is trading in the green by 0.40% in the session on Wednesday.
ETH/USD is running towards four consecutive days in the green, despite the narrowing.
Upside is largely limited by supply at the $140 price mark.
Litecoin Price Forecast: LTC/USD Must Break Down And Hold Above To Avoid Another Steep Fall
Litecoin price is trading in positive territory by 3.55 % in the session on Thursday.
LTC/USD at present is edging towards another day in the green, which would mark the fourth.
The price continues to be limited to the upside by the barrier at the psychological $40 mark.
Image source from Pixabay
See more from Benzinga
• Bitcoin, Ethereum & Litecoin - American Wrap: 4/2/2020
• Bitcoin, Ethereum & Litecoin - American Wrap: 4/1/2020
• Bitcoin, Ethereum & Litecoin - American Wrap: 3/31/20
© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || How Disruption Makes Humanity Stronger, Feat. Emerson Spartz: Emerson Spartz joins The Breakdown to discuss how creativity and digital work can flourish as people are forced to improve how they use the internet and technology. For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe with Apple Podcasts , Spotify , Pocketcasts , Google Podcasts , Castbox , Stitcher , RadioPublica , IHeartRadio or RSS . Second order effects are things that happen as unexpected outcomes of something else happening. These effects can create surprising causal chains. Related: Bitcoin News Roundup for April 6, 2020 Take this for example: A pandemic makes everyone need to work from home leads to an increase in video calling leads to Walmart reporting that people are buying more shirts , but not pants. Emerson Spartz is one of the worlds foremost thinkers on virality and the internet. He founded Mugglenet the worlds biggest Harry Potter fan site as a middle school drop out, and would later found and raise tens of millions for Dose. In the past weeks, Emerson started an open crowdsourced document on the Coronavirus second order effects that has, itself, gone viral, especially among venture capitals and other investor circles trying to understand what the world looks like on the other side of this. Emerson brings a surprisingly optimistic perspective on where this could lead a generation of people who are now more fully plugged in to the internet than ever before. Related: Coronavirus Second Order Effects and Improving on Bitcoin With BitTorrent Creator Bram Cohen See also: Disruption, Money and a World of Change, Feat. Niall Ferguson For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe with Apple Podcasts , Spotify , Pocketcasts , Google Podcasts , Castbox , Stitcher , RadioPublica , IHeartRadio or RSS . Related Stories Miner Perspectives on Bitcoin Halving 2020, Part 1 of a New Podcast Series Will DeFi Matter in a Post-Coronavirus World? Feat. Matt Luongo || China Is Winning the Coronavirus Information War: Teddy Fusaro is the chief operating officer at Bitwise Asset Management, a cryptocurrency asset management firm in San Francisco. He has held management and leadership positions at alternative asset management companies for the past decade, and began his career at Goldman Sachs.
Westerners often say the Chinese word for crisis has two meanings: “danger” and “opportunity.” Without passing judgment on thecharacter of the word (wēijī, 危机), my assessment is that this is a time of great opportunity for the People’s Republic of China, the Communist Party of China (CCP) and its General Secretary, the President of China, Xi Jinping. And it is a time of great danger for the existing world order and the United States’ role within it.
The existing world order was formed in the era of American empire and hegemony, a world defined by the growth of capitalism and spread of democracy; a system that has existed since the middle of the twentieth century, where the United States controls trade routes, extends military power and possesses the most powerful object in the world: the global reserve currency, the United States dollar.
Related:Your Crypto Startup Needs a Recession Strategy
See also:Michael Casey – China Seizes the Blockchain Opportunity. How Should the US Respond?
In a post-coronavirus world, the U.S. risks losing its status as leader of the free world and, with it, the claim to a set of ideals framed in our Constitution. The power on the other side of that dichotomy is the world’s great emerging power, the People’s Republic of China, and its authoritarian system of state capitalism.
At first, the Chinese Communist Party, by all accounts, reeled from the disaster, too. The government silenced those who spoke out about it, obviously obscured the data related to those who were sick and have died (this they continue to do), and refused entry of international health officials.
As the virus spread, Communist Party of China Foreign Ministry spokesman Zhao Lijanbegan promoting a theorythat members of the U.S. Army who visited Wuhan in October 2019 brought the virus to China. CCP state media organs repeated the story, and the U.S. State Departmentsummoned the ambassador to the U.S.and used strong language to denounce the accusation.
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The State Department release says that “Secretary of State Michael R. Pompeo spoke by phone on March 16 with Yang Jiechi, Director of the Office of Foreign Affairs of the Communist Party of China. Secretary Pompeo conveyed strong U.S. objections to PRC efforts to shift blame for COVID-19 to the United States.”
See also:Teddy Fusaro – The US Needs a Wartime Effort to Win the Coronavirus Battle
Furthermore, the CCP propaganda machine has taken great lengths to establish and brand the global pandemic as “COVID-19,” instead of allowing any geographically descriptive naming convention to take root. The CCP has found a willing dance partner in the Western political left and associated media, both constituencies always eager to promote cultural togetherness (a noble cause, no doubt).
Political divisions within the United States have aided in turning this into a left/right issue, with the President referring antagonistically to COVID-19 as “ChinaVirus” and being pilloried in response by the left-leaning political commentariat, already inflamed by the early failures of the U.S. response, and reeling itself from its lack of teeth in waiting so long to cover the crisis in broad publications. Meanwhile, whitewashing the Chinese association from the pandemic’s global nomenclature (many prior pandemics are descriptively termed based on their regional origin, such as Zika, West Nile virus, the Spanish flu, Ebola, etc.) is a key part of the strategy to separate China from its role as initial source of the of the outbreak and smoothes the transition into its preferred and powerful narrative as defender of the globe and supplier of medical equipment to stricken nations.
The CCP did, however, buy the entire world critical time – a month or more – to prepare for what was coming by implementing draconian measures to close entire cities and economies and implementing social distancing by force and mandate. Reports indicate that, once taken seriously, the CCP and President Xi executed and implemented the pandemic playbook with precision and authority (keeping people inside and separate, cancelling public events, requiring the wearing of masks in public in affected areas, etc.).
The CCP’s ability to control, decide, and enact appears at this moment in stark contrast to the American model.
By that time, any reasonable person with a spreadsheet and a basic understanding of exponential math knew the risk of COVID-19 spreading across the globe was high. But Western governments, including the one that leads the world, our government in Washington DC, failed to respond to take advantage of that window.
Instead, as the United Statescannot even internally allocate resources to deal with our sick and dying, China is manufacturing medical equipment and supplies, and shipping it to the rest of the world. And the all-important publicity campaign – coordinated through diplomats, official and unofficial CCP spokespeople, global media, state media, and non-governmental organizations – of announcing these provisions of aid to virus stricken countries has been equally strong.
The CCP media strategy is to ensure the announcement of this aid (which, it should be accurately noted, is gracious, life-saving, and a blessing for many in need) is widely publicized, so that credit is given where credit is due. A very specific image is being curated.
The picture being drawn across the internet, if you zoom out enough, is of one a world power in decline – hardly able to fight the virus on its own home turf – while another one rises to the occasion, and not only stops the virus at home, but extends that leadership abroad, saving lives in countries around the planet.
In “Age of Ambition: Chasing Fortune, Truth, and Faith in the New China” Evan Osnos describes one of the most startling things he observed upon returning to China after a near-decade hiatus in 2012.
It was the striking change in Chinese culture’s interpretation of the word “ye xin” – the Chinese word for “ambition.” The literal interpretation of the word is “wild heart” and had previously “carried the suggestion of savage abandon and absurd expectations – a toad who dreams of devouring a swan, as an old saying had it.” But in the near decade that had passed before he returned to China in 2012 – just in that small amount of time – the word’s meaning and power had changed dramatically.
Children’s books, self-help books for adults, television programs, talk shows, and the news, all spoke of the pioneering spirit of the “wild heart” of ambition.
China has been one of the world’s great powers – or its greatest power – for most of human history. And the last 30 years of growth in China have been nothing short of shocking when viewed on historical scale. It is beyond the scope of this piece to put that growth into context, but I will point out that in 1872, the United States had “per capita income” of three thousand dollars per year, and it took nearly 60 years for the U.S. to go from there to seven thousand. China did it in seven years between 2000 and 2007.
See also:China Has Many Strategic Reasons to Invest in Blockchain
The growth of China into the second most powerful country in the world is so shockingly abrupt that it doesn’t actually look real on a long-term chart. In 1978 U.S. President Jimmy Carter officially announced the recognition of the Communist government in Beijing. In just 40 years, it has become the second largest economy in the world, and the engine of the world’s growth.
In recent years, China has also begun to flex its military muscle in the region, antagonizing the Philippines, Vietnam and others, whilestrengthening its military power in the South China Sea. It has increased its military activity generally, begun conducting naval maneuvers and exercises, and has constructed military and industrial outposts on artificial islands in disputed waters. World powers historically extend military strength first across their networks of important trade routes, and this pattern looks no different. The CCP understands more well than anyone else it’s growing power on the world stage. Lux Xun, China’s greatest modern writer, wrote that “hope is like a path in the countryside. Originally, there was no path, but once people begin to pass, a way appears.”
It is broadly accepted by historians that major shifts in geopolitical relationships — wars, phase transitions, shifts in balances of power – often coincide with massive disruptions to economies – debt crises. History shows that politics, power, and economics are always tightly intertwined. COVID-19 is an opportunity for the CCP.
Capitalism, and systems of government that work functionally alongside and through it, has proven to be the greatest system in the history of the world for raising humans out of poverty, increasing total wealth levels and distributing opportunity across populations. Humans are now happier, healthier, less violent, more rich, and live a better lifestyle than at any time in human history. And that success is now more widely distributed from top to bottom than at any time since humans walked the earth (and this despite the very real growing wealth gaps andcommon misunderstanding of just how good things have gotten). Freedom, liberty, capitalism, the free press and the free market – western liberalism – have given humans the ability to express themselves and behave as they see fit like never before, and has given us the greatest improvement in living standards in the history of the earth. But a new model has arisen in the East – Chinese State Capitalism – and its time may have arrived.
The United States World Order, with the U.S. as the pre-eminent world power, has allowed Americans in particular to enjoy many advantages. Status as the issuer of the world’s reserve currency brings an economically advantageous, cyclically reinforcing wealth creation mechanism and a durable advantage over all other nations in the world. In addition to its military might, the U.S. dollar’s reserve status is the most powerful tool in the American arsenal. That status is at risk in initiatives likeChina’s digital currency.
The CCP’s ability to control, decide, and enact appears at this moment in stark contrast to the American model of disagreement, disorganization and delay.
• Bitcoin Community Funds Italian Red Cross Medical Facility to Combat Coronavirus
• World Economic Forum Looks to Blockchain for Supply Chain Woes || How Disruption Makes Humanity Stronger, Feat. Emerson Spartz: Emerson Spartz joins The Breakdown to discuss how creativity and digital work can flourish as people are forced to improve how they use the internet and technology.
Formore episodesand free early access before our regular 3 p.m. Eastern time releases, subscribe withApple Podcasts,Spotify,Pocketcasts,Google Podcasts,Castbox,Stitcher,RadioPublica,IHeartRadioorRSS.
Second order effects are things that happen as unexpected outcomes of something else happening. These effects can create surprising causal chains.
Related:Bitcoin News Roundup for April 6, 2020
Take this for example: A pandemic makes everyone need to work from home leads to an increase in video calling leads to Walmart reporting that people arebuying more shirts, but not pants.
Emerson Spartz is one of the world’s foremost thinkers on virality and the internet. He founded Mugglenet – the world’s biggest Harry Potter fan site – as a middle school drop out, and would later found and raise tens of millions for Dose.
In the past weeks, Emerson started an open crowdsourced document on the Coronavirus’ second order effects that has, itself, gone viral, especially among venture capitals and other investor circles trying to understand what the world looks like on the other side of this.
Emerson brings a surprisingly optimistic perspective on where this could lead a generation of people who are now more fully plugged in to the internet than ever before.
Related:Coronavirus Second Order Effects and Improving on Bitcoin With BitTorrent Creator Bram Cohen
See also:Disruption, Money and a World of Change, Feat. Niall Ferguson
Formore episodesand free early access before our regular 3 p.m. Eastern time releases, subscribe withApple Podcasts,Spotify,Pocketcasts,Google Podcasts,Castbox,Stitcher,RadioPublica,IHeartRadioorRSS.
• Miner Perspectives on Bitcoin Halving 2020, Part 1 of a New Podcast Series
• Will DeFi Matter in a Post-Coronavirus World? Feat. Matt Luongo || Blockchain Bites: Major Crypto Players Sued, Steem Froze Accounts and More: At least 10 class-action lawsuits were filed against major crypto firms and personalities accusing them of offering unregistered securities.
The thread tying it all together? The lawsuits were filed by the same boutique law firm – Roche Cyrulnik Freedman – heading up anotherhigh profile caseinvolvingbitcoin’s(BTC) self-defined creator and antagonist Craig S. Wright. No matter the outcome, these suits could provide clarity around the open question of when a token offering could fall under U.S. securities law.
This isBlockchain Bites, the daily roundup of the most pivotal stories in blockchain and crypto news, and why they’re significant. You can subscribe to this and all of CoinDesk’snewsletters here.
Related:First Mover: Bitcoin’s Back in the Black for 2020
Class actionPlaintiffs filed at least10 class-action lawsuitsagainst some of the biggest names in crypto, including Binance, KuCoin and BitMEX operator HDR Global Trading, as well as blockchain projects like Tron, Block.One and Kyber Network. The thread tying these cases together? Accusations the companies facilitated the sale of unregistered securities (aka “tokens”) to the public.
Frozen steemWitnesses on Steem havefrozen eight accounts,putting a total of 17.6 million steem (worth approximately $3.2 million) in limbo. “We are at an extremely difficult time in the history of Steem, and the power of communities are [sic] the key to make Steem great again,” said a Steemit blog announcing the move. A tit-for-tat between Steem’s old and new leadership boiled over after Justin Sun purchased a majority stake in the Steem blockchain two months ago. Dissident token holders forked to a new blockchain called Hive, and it now appears some of their original Steem tokens are locked.
Going digitalResearchers at the Bank for International Settlements (BIS) thinkCOVID-19 may accelerate the adoption of digital paymentsand sharpen the debate over central bank digital currencies (CBDC). Issuing their forecast in BIS’s April 3 Bulletin, they researchers said COVID-19 is changing the public’s relationship with cash, despite the scientific community’s consensus that coronavirus transmission via banknote is relatively unlikely.
Market maturityCrypto companieskept buying each otherlast year even as both M&A and funding deal flow in the industry took a dive, according to a report by PwC. While the number of M&A deals dropped from 189 in 2018 to 114 in 2019, representing a whopping 76 percent decline in value to $451 million, more than half of the deals were initiated by crypto-native firms, indicating that larger companies acquired smaller firms providing ancillary services.
Related:Introducing CoinDesk’s All-New Newsletters
Planned obsolescenceMakerDAO isplanning its obsolescence.Rune Christensen, Maker’s founder, has a two-year three-plank plan to turn over work done by the MakerDAO Foundation to organizations controlled by token holders. “The rollout of the self-sustaining MakerDAO initiative is going to be a very much a step-by-step process that will happen very carefully and deliberately,” he said.
Subsidiary scamVictims of analleged crypto ponzi scamhave filed a class-action lawsuit against a Wells Fargo subsidiary, claiming a financial advisor associated with the firm defrauded 150 investors out of $35 million.
Revolut’s cryptowill not beAmericanizedRevolut, a UK-based neo-bank, will now allow a larger swath of clients tobuy and sell cryptocurrenciessupported in its banking app. While the challenger bank successfully expanded to the U.S. in March, American investors are still excluded from crypto trading.
Blockchain stimulusAs coronavirus roils markets, U.S. legislators arecommitting to providing financial aidto citizens through the CARES Act. But, legislation lacks certainty around how and when financial relief will be delivered. CoinDesk columnist Stephanie Hurder writes that blockchain can be an essential tool in providing clarity, and for Congress to “show their commitment” to delivering this needed stimulus.
• The Gemini exchange is adding Basic Attention Token (BAT) on Friday (Decrypt).
• Decrypt takes “a look at China’s most prolific crypto venture firm,”NGC Ventures.
• The Bank of Korea, the country’s central bank, has launched a pilot program for testing digital won. (The Block)
• Poloniex launches token sale platform, with Tron’s decentralized stablecoin system as first project (The Block)
• Crypto to the rescue after Khan Academy’s COVID-19 traffic surge (Cointelegraph)
• Loom Network to cap off troublesome quarter with a network upgrade (Messari)
Modest rallyBitcoin hasrallied above $7,100at press time, a 5 percent gain from the previous 24 hours. The move began during Asian equity market trading hours as Japan’s Nikkei index moved up 4.2 percent. Many analysts attribute the changing sentiment in both crypto and traditional markets to positive data showing the coronavirus crisis may soon lessen.
Gold bugs outIn the recent market turmoil, bitcoin did not act like the uncorrelated asset many thought it was.Nor did gold.As things calmed down a bit (or as we got used to the new volatility), gold resumed its upward climb. But there are problems: gold is not as fungible as we assumed. During this period, BTC’s correlation to equities rose sharply, while its correlation to gold fell. Still, the BTC/Gold relationship is stronger than that of bitcoin and equities, CoinDesk’s head of research Noelle Acheson writes in Crypto Long & Short, a newsletter that looks closely at the forces driving cryptocurrency markets.You can subscribe here.
Security patchBraiins, the company behind the world’s sixth-largest bitcoin mining pool has releasedsoftware to patch security problemswith such pools. This software update, called Stratum V2, provides better privacy for miners and protections from so-called hijacking attacks, where other entities temporarily steal their hashing power.
Halving reportIn May of 2020,bitcoin is expected to undergo its third “halving,”a programmed supply reduction that has in the past coincided with a strong run-up in the bitcoin price. In this paper, we explain what the bitcoin halving is, why it matters and why the market is so focused on this event.
The long tail of COVID-19BitTorrent creator and Chia CEO Bram Cohen joinsLet’s Talk Bitcoin!to discuss the limitations of Satoshi’s approach to Nakamoto consensus, how he believes it can be improved and the lasting impacts of coronavirus lockdowns.
• First Mover: Trillions in Coronavirus Stimulus Bring Out the Bitcoin Bulls
• Bitcoin News Roundup for Feb. 20, 2020 || Blockchain Bites: Major Crypto Players Sued, Steem Froze Accounts and More: At least 10 class-action lawsuits were filed against major crypto firms and personalities accusing them of offering unregistered securities. The thread tying it all together? The lawsuits were filed by the same boutique law firm – Roche Cyrulnik Freedman – heading up another high profile case involving bitcoin’s (BTC) self-defined creator and antagonist Craig S. Wright. No matter the outcome, these suits could provide clarity around the open question of when a token offering could fall under U.S. securities law. This is Blockchain Bites , the daily roundup of the most pivotal stories in blockchain and crypto news, and why they’re significant. You can subscribe to this and all of CoinDesk’s newsletters here . Related: First Mover: Bitcoin’s Back in the Black for 2020 Class action Plaintiffs filed at least 10 class-action lawsuits against some of the biggest names in crypto, including Binance, KuCoin and BitMEX operator HDR Global Trading, as well as blockchain projects like Tron, Block.One and Kyber Network. The thread tying these cases together? Accusations the companies facilitated the sale of unregistered securities (aka “tokens”) to the public. Frozen steem Witnesses on Steem have frozen eight accounts, putting a total of 17.6 million steem (worth approximately $3.2 million) in limbo. “We are at an extremely difficult time in the history of Steem, and the power of communities are [sic] the key to make Steem great again,” said a Steemit blog announcing the move. A tit-for-tat between Steem’s old and new leadership boiled over after Justin Sun purchased a majority stake in the Steem blockchain two months ago. Dissident token holders forked to a new blockchain called Hive, and it now appears some of their original Steem tokens are locked. Going digital Researchers at the Bank for International Settlements (BIS) think COVID-19 may accelerate the adoption of digital payments and sharpen the debate over central bank digital currencies (CBDC). Issuing their forecast in BIS’s April 3 Bulletin, they researchers said COVID-19 is changing the public’s relationship with cash, despite the scientific community’s consensus that coronavirus transmission via banknote is relatively unlikely. Story continues Market maturity Crypto companies kept buying each other last year even as both M&A and funding deal flow in the industry took a dive, according to a report by PwC. While the number of M&A deals dropped from 189 in 2018 to 114 in 2019, representing a whopping 76 percent decline in value to $451 million, more than half of the deals were initiated by crypto-native firms, indicating that larger companies acquired smaller firms providing ancillary services. Related: Introducing CoinDesk’s All-New Newsletters Planned obsolescence MakerDAO is planning its obsolescence. Rune Christensen, Maker’s founder, has a two-year three-plank plan to turn over work done by the MakerDAO Foundation to organizations controlled by token holders. “The rollout of the self-sustaining MakerDAO initiative is going to be a very much a step-by-step process that will happen very carefully and deliberately,” he said. Subsidiary scam Victims of an alleged crypto ponzi scam have filed a class-action lawsuit against a Wells Fargo subsidiary, claiming a financial advisor associated with the firm defrauded 150 investors out of $35 million. Revolut’s crypto will not be Americanized Revolut, a UK-based neo-bank, will now allow a larger swath of clients to buy and sell cryptocurrencies supported in its banking app. While the challenger bank successfully expanded to the U.S. in March, American investors are still excluded from crypto trading. Blockchain stimulus As coronavirus roils markets, U.S. legislators are committing to providing financial aid to citizens through the CARES Act. But, legislation lacks certainty around how and when financial relief will be delivered. CoinDesk columnist Stephanie Hurder writes that blockchain can be an essential tool in providing clarity, and for Congress to “show their commitment” to delivering this needed stimulus. Around the web The Gemini exchange is adding Basic Attention Token (BAT) on Friday ( Decrypt ). Decrypt takes “a look at China’s most prolific crypto venture firm,” NGC Ventures . The Bank of Korea, the country’s central bank, has launched a pilot program for testing digital won. ( The Block ) Poloniex launches token sale platform, with Tron’s decentralized stablecoin system as first project ( The Block ) Crypto to the rescue after Khan Academy’s COVID-19 traffic surge ( Cointelegraph ) Loom Network to cap off troublesome quarter with a network upgrade ( Messari ) Market Intel Modest rally Bitcoin has rallied above $7,100 at press time, a 5 percent gain from the previous 24 hours. The move began during Asian equity market trading hours as Japan’s Nikkei index moved up 4.2 percent. Many analysts attribute the changing sentiment in both crypto and traditional markets to positive data showing the coronavirus crisis may soon lessen. Gold bugs out In the recent market turmoil, bitcoin did not act like the uncorrelated asset many thought it was. Nor did gold. As things calmed down a bit (or as we got used to the new volatility), gold resumed its upward climb. But there are problems: gold is not as fungible as we assumed. During this period, BTC’s correlation to equities rose sharply, while its correlation to gold fell. Still, the BTC/Gold relationship is stronger than that of bitcoin and equities, CoinDesk’s head of research Noelle Acheson writes in Crypto Long & Short, a newsletter that looks closely at the forces driving cryptocurrency markets. You can subscribe here. Security patch Braiins, the company behind the world’s sixth-largest bitcoin mining pool has released software to patch security problems with such pools. This software update, called Stratum V2, provides better privacy for miners and protections from so-called hijacking attacks, where other entities temporarily steal their hashing power. Halving report In May of 2020, bitcoin is expected to undergo its third “halving,” a programmed supply reduction that has in the past coincided with a strong run-up in the bitcoin price. In this paper, we explain what the bitcoin halving is, why it matters and why the market is so focused on this event. Let’s Talk Bitcoin! The long tail of COVID-19 BitTorrent creator and Chia CEO Bram Cohen joins Let’s Talk Bitcoin! to discuss the limitations of Satoshi’s approach to Nakamoto consensus, how he believes it can be improved and the lasting impacts of coronavirus lockdowns. Who Won Crypto Twitter? Related Stories First Mover: Trillions in Coronavirus Stimulus Bring Out the Bitcoin Bulls Bitcoin News Roundup for Feb. 20, 2020 || Zoom Has Privacy Issues, Here Are Some Alternatives: Zoom, the popular-by-necessity video conferencing platform, has seen an explosion in users as the coronavirus pandemic forces people to work from home. In arecent blog post, CEO Eric S. Yuan said Zoom now has 200 million users, up from just 10 million last December.
But, with that increase in users has come greater scrutiny of Zoom’s privacy and security. With widespread reports ofZoombombing(where strangers dial in your channel with something rude and disruptive), the company’s procedures have been called into question by the New York Attorney General, and prompted a class-actionlawsuit.
The New York’s Attorney General said he is “concerned that Zoom’s existing security practices might not be sufficient to adapt to the recent and sudden surge in both the volume and sensitivity of data being passed through its network.”
Related:Private Companies Could Play Role in CBDC Issuance, Bank of England Says
Until recently, Zoom’s iPhone app included software that surreptitiously funneled user data to Facebook. The lawsuit says the code allowed Facebook to target users with ads.
Zoom has been criticized for ignoring privacy before. A year ago, a researcher found four million Zoom user cameras were potentially vulnerable to remote takeover without you knowing.
The company is currently pausing all feature development and “shifting all our engineering resources to focus on our biggest trust, safety and privacy issues,” Yuan said. But for many users, this isn’t good enough. They’ve already lost trust in Zoom and are searching for alternatives (which we identify below).
“Despite its ease of use, Zoom does not seem to take privacy seriously,” said Reuben Yap, Zcoin Project Steward. “Despite claims that Zoom’s video calls are [end-to-end] encrypted,this isn’t actually the case. E2E encryption means that even Zoom should not be able to view the contents of the videos or calls.”
Related:Bitcoin’s Future: Exactly How a Coming Upgrade Could Improve Privacy and Scaling
“Instead, all Zoom provides is transport encryption, meaning that it is secured to the extent that outsiders cannot intercept the call and view it. This still means that we have to trust Zoom to not read or leak this info. Given its track record, I don’t have high hopes,” Yap said.
Yoav Degani, the founder of MyPrivacy, an app that bundles privacy protection tools such as a VPN and a password manager, said there are several privacy and security issues with Zoom. Because meetings can be recorded and uploaded to the cloud, which is not secured, people who are not on the meeting can get a recording (like your boss for example). Also, organizers can receive a text file with the transcript of the meeting chat.
“There’s also a feature available to the meeting’s host called attendee attention tracking,” said Degani. “It allows the host to monitor participants’ computers and see if someone is not active in the Zoom call for more than 30 seconds.”
See also:How to Protect Your Online Privacy While Working From Home
You may not be officially active if, say, you put the Zoom window in the background and play some game or read some post on Facebook.
Degani said some bad guys are taking advantage of the situation and there are dozens of websites with the name “Zoom” that all of a sudden appear in search results and advertising and are used for phishing.
Several people who build and develop privacy-oriented toolsrecommend Jitsias a more secure alternative to Zoom.
Emil Ivov, one of the founders of Jitsi, said what sets it apart from other video conferencing services is its low friction. Creating a meeting is as simple as typing your name in, and it’s just one click to join. The company uses WebRTC, or Web Realtime Communications, which enables peer-to-peer video, data and audio communication between two web browsers. So on desktops there are no downloads and no accounts needed, said Ivov.
“We are really mindful about privacy and security,” said Ivov. “We require no personal data and fully support anonymous use. We are also open source. This is where we are truly unique. If you have any concerns about how we run our service, then you can just go and run your own! It only takes 15 minutes.”
Being open source also means anyone can scrutinize its software. But Jitsi does not feature end-to-end encryption.
“For now this is simply not possible with WebRTC, although the whole community is looking into the problem and we are hoping there will soon be solutions,” said Ivov. “For the time being, however, all your data is encrypted in-flight using DTLS-SRTP [a protocol which adds encryption and ensures message authentication and integrity] as per the WebRTC standard. None of your media content leaves your computer unencrypted.”
Jitsi is one more secure alternative, and another includesWhereby. One big drawback: Users are limited to four meeting participants in the free version. The Pro version of Whereby is $9.99 per month, and allows up to 12 participants per room in up to three meeting rooms.
Other one-to-one alternatives include Facetime, which does have end-to-end encryption, as does Signal, the privacy-focused messaging and call app.
“Products and services can be built to be both convenient and to protect privacy by design at the back-end,” says Raullen Chai, CEO of IoTeX, a Silicon Valley company that develops privacy-protecting smart devices. “Then you don’t have to worry about whether or not you trust a centralized party because it is built in what can and can’t happen with your data, returning control to the consumer. Blockchain-based key issuance allows for true end-to-end encryption without having to trust a central provider to not keep a key for themselves.”
Take all this into account, and it’s just one more indicator that yes, that meeting could probably be an email. As long as it’s one sent securely, that is.
• How to Protect Your Online Privacy While Working From Home
• P2P Exchange Hodl Hodl Takes First Step in Bringing Private Bitcoin Trades to BlueWallet Users || Zoom Has Privacy Issues, Here Are Some Alternatives: Zoom, the popular-by-necessity video conferencing platform, has seen an explosion in users as the coronavirus pandemic forces people to work from home. In a recent blog post , CEO Eric S. Yuan said Zoom now has 200 million users, up from just 10 million last December. But, with that increase in users has come greater scrutiny of Zooms privacy and security. With widespread reports of Zoombombing (where strangers dial in your channel with something rude and disruptive), the companys procedures have been called into question by the New York Attorney General, and prompted a class-action lawsuit. The New Yorks Attorney General said he is concerned that Zooms existing security practices might not be sufficient to adapt to the recent and sudden surge in both the volume and sensitivity of data being passed through its network. Related: Private Companies Could Play Role in CBDC Issuance, Bank of England Says Until recently, Zooms iPhone app included software that surreptitiously funneled user data to Facebook. The lawsuit says the code allowed Facebook to target users with ads. Zoom has been criticized for ignoring privacy before. A year ago, a researcher found four million Zoom user cameras were potentially vulnerable to remote takeover without you knowing. The company is currently pausing all feature development and shifting all our engineering resources to focus on our biggest trust, safety and privacy issues, Yuan said. But for many users, this isnt good enough. Theyve already lost trust in Zoom and are searching for alternatives (which we identify below). Despite its ease of use, Zoom does not seem to take privacy seriously, said Reuben Yap, Zcoin Project Steward. Despite claims that Zooms video calls are [end-to-end] encrypted, this isnt actually the case . E2E encryption means that even Zoom should not be able to view the contents of the videos or calls. Related: Bitcoins Future: Exactly How a Coming Upgrade Could Improve Privacy and Scaling Story continues Instead, all Zoom provides is transport encryption, meaning that it is secured to the extent that outsiders cannot intercept the call and view it. This still means that we have to trust Zoom to not read or leak this info. Given its track record, I dont have high hopes, Yap said. Yoav Degani, the founder of MyPrivacy, an app that bundles privacy protection tools such as a VPN and a password manager, said there are several privacy and security issues with Zoom. Because meetings can be recorded and uploaded to the cloud, which is not secured, people who are not on the meeting can get a recording (like your boss for example). Also, organizers can receive a text file with the transcript of the meeting chat. Theres also a feature available to the meetings host called attendee attention tracking, said Degani. It allows the host to monitor participants computers and see if someone is not active in the Zoom call for more than 30 seconds. See also: How to Protect Your Online Privacy While Working From Home You may not be officially active if, say, you put the Zoom window in the background and play some game or read some post on Facebook. Degani said some bad guys are taking advantage of the situation and there are dozens of websites with the name Zoom that all of a sudden appear in search results and advertising and are used for phishing. Locking down your video Several people who build and develop privacy-oriented tools recommend Jitsi as a more secure alternative to Zoom. Emil Ivov, one of the founders of Jitsi, said what sets it apart from other video conferencing services is its low friction. Creating a meeting is as simple as typing your name in, and its just one click to join. The company uses WebRTC, or Web Realtime Communications, which enables peer-to-peer video, data and audio communication between two web browsers. So on desktops there are no downloads and no accounts needed, said Ivov. We are really mindful about privacy and security, said Ivov. We require no personal data and fully support anonymous use. We are also open source. This is where we are truly unique. If you have any concerns about how we run our service, then you can just go and run your own! It only takes 15 minutes. Being open source also means anyone can scrutinize its software. But Jitsi does not feature end-to-end encryption. For now this is simply not possible with WebRTC, although the whole community is looking into the problem and we are hoping there will soon be solutions, said Ivov. For the time being, however, all your data is encrypted in-flight using DTLS-SRTP [a protocol which adds encryption and ensures message authentication and integrity] as per the WebRTC standard. None of your media content leaves your computer unencrypted. Jitsi is one more secure alternative, and another includes Whereby . One big drawback: Users are limited to four meeting participants in the free version. The Pro version of Whereby is $9.99 per month, and allows up to 12 participants per room in up to three meeting rooms. Other one-to-one alternatives include Facetime, which does have end-to-end encryption, as does Signal, the privacy-focused messaging and call app. Products and services can be built to be both convenient and to protect privacy by design at the back-end, says Raullen Chai, CEO of IoTeX, a Silicon Valley company that develops privacy-protecting smart devices. Then you dont have to worry about whether or not you trust a centralized party because it is built in what can and cant happen with your data, returning control to the consumer. Blockchain-based key issuance allows for true end-to-end encryption without having to trust a central provider to not keep a key for themselves. Take all this into account, and its just one more indicator that yes, that meeting could probably be an email. As long as its one sent securely, that is. Related Stories How to Protect Your Online Privacy While Working From Home P2P Exchange Hodl Hodl Takes First Step in Bringing Private Bitcoin Trades to BlueWallet Users || Most Profitable Cryptocurrency Miners Released by BitHull: COPENHAGEN, DENMARK / ACCESSWIRE / April 6, 2020 /BitHull S.A (https://www.bithull.com/) has emerged as the next big thing in the global crypto market with the recent launch of its FPGA miners. The company's two new products, BH Miner and BH Miners Box have been designed to generate unprecedented profitability for the users. Built around the revolutionary Field Programmable Gate Array or FPGA technology, these miners can deliver exceptionally high hash rate without consuming a lot of power.
Both the multi-algorithm miners from BitHull can be used for mining Bitcoin, Litecoin, Ethereum, and Monero. BH Miner is the basic product from the company with a moderate power consumption of 550W. BH Miners Box, on the other hand, is a combination of six BH Miner units connected to each other. The units generate very low noise, and hence, can be used at home or any other place.
Hash Rate:
BH Miner: 360 TH/s, 60 GH/s, 15 GH/s, and 3 MH/s for Bitcoin, Litecoin, Ethereum, and Monero respectively.BH Miners Box: 2160 TH/s, 360 GH/s, 90 GH/s, and 18 MH/s for Bitcoin, Litecoin, Ethereum, and Monero respectively.
Profit and Power Consumption (BH Miners Box):
Bitcoin: $7951.95 profit per monthLitecoin: $18.64k profit per monthEthereum: $25.78k profit per monthMonero: $29.06k profit per month
The power cost is $285 per month and the calculations were made based on the cost of $0.12/kWh. BitHull recommends all its customers to verify the above details in real time using a reliable online calculator.
Regardless of any price fluctuation or mining difficulty changes, both products will remain profitable.
"The excellent profit earning potential of the two products from BitHull makes them the perfect pick for the beginners looking to try their hands in crypto mining as well as the mining experts," said Matias Milet, Vice President of BitHull S.A.
For more details, please visithttps://www.bithull.com/
About BitHull: BitHull S.A. is a technology company dedicated to developing next-generation hardware for cryptocurrency mining. The company is run by a team of experts with a track record of delivering world-class tech components such as FPGA chips to numerous industry heavyweights.
Media contact:
Matias Miletmedia@bithull.com+4565742479Picture:http://newsfeed2.eqs.com/57330a/1016361.html
SOURCE:BitHull S.A. via EQS Newswire
View source version on accesswire.com:https://www.accesswire.com/584061/Most-Profitable-Cryptocurrency-Miners-Released-by-BitHull || Most Profitable Cryptocurrency Miners Released by BitHull: COPENHAGEN, DENMARK / ACCESSWIRE / April 6, 2020 / BitHull S.A ( https://www.bithull.com/ ) has emerged as the next big thing in the global crypto market with the recent launch of its FPGA miners. The company's two new products, BH Miner and BH Miners Box have been designed to generate unprecedented profitability for the users. Built around the revolutionary Field Programmable Gate Array or FPGA technology, these miners can deliver exceptionally high hash rate without consuming a lot of power. Both the multi-algorithm miners from BitHull can be used for mining Bitcoin, Litecoin, Ethereum, and Monero. BH Miner is the basic product from the company with a moderate power consumption of 550W. BH Miners Box, on the other hand, is a combination of six BH Miner units connected to each other. The units generate very low noise, and hence, can be used at home or any other place. Hash Rate : BH Miner: 360 TH/s, 60 GH/s, 15 GH/s, and 3 MH/s for Bitcoin, Litecoin, Ethereum, and Monero respectively. BH Miners Box: 2160 TH/s, 360 GH/s, 90 GH/s, and 18 MH/s for Bitcoin, Litecoin, Ethereum, and Monero respectively. Profit and Power Consumption (BH Miners Box): Bitcoin: $7951.95 profit per month Litecoin: $18.64k profit per month Ethereum: $25.78k profit per month Monero: $29.06k profit per month The power cost is $285 per month and the calculations were made based on the cost of $0.12/kWh. BitHull recommends all its customers to verify the above details in real time using a reliable online calculator. Regardless of any price fluctuation or mining difficulty changes, both products will remain profitable. "The excellent profit earning potential of the two products from BitHull makes them the perfect pick for the beginners looking to try their hands in crypto mining as well as the mining experts," said Matias Milet, Vice President of BitHull S.A. For more details, please visit https://www.bithull.com/ About BitHull: BitHull S.A. is a technology company dedicated to developing next-generation hardware for cryptocurrency mining. The company is run by a team of experts with a track record of delivering world-class tech components such as FPGA chips to numerous industry heavyweights. Story continues Media contact: Matias Milet media@bithull.com +4565742479 Picture: http://newsfeed2.eqs.com/57330a/1016361.html SOURCE: BitHull S.A. via EQS Newswire View source version on accesswire.com: https://www.accesswire.com/584061/Most-Profitable-Cryptocurrency-Miners-Released-by-BitHull || Digital Assets Are More Recession-Proof Than You Might Think: Jeff Dorman, a CoinDesk columnist, is chief investment officer at Arca where he leads the investment committee and is responsible for portfolio sizing and risk management. He has more than 17 years of trading and asset management experience at firms including Merrill Lynch and Citadel Securities.
Finding the most appropriate place to park or invest money is a subjective exercise based on the risk tolerance of an individual (or firm). But it gets even more subjective when investors begin to think about “return of capital” more than “return on capital.”
Many investors stay invested in stocks throughout drawdowns, believing equity investing is about long-term historical average returns and not day-to-day or year-to-year fluctuations. Plenty of other investors prefer the safety of government or corporate bonds due to their seniority and stable cash flows. Some become concerned about counterparty risk and move money out of banks and brokerages and into cash, while others fear cash and move to gold to protect against inflation or lack of trust in local government. And, of course, a small but rising group of people want to rid themselves of as many systemic risks as possible and move intobitcoin(BTC) or other digital assets.
Related:China Is Winning the Coronavirus Information War
See also:Byrne Hobart – Bitcoin Is a Safe Haven for a Worse Storm Than This
None of these opinions are wrong. All have some merit.
But the different value drivers of equity, debt and digital assets may begin to manifest from the seemingly inevitable recession that will result from the current COVID-19 pandemic. All three are arguably part of the new “capital structure” now, but each creates value in entirely different ways.
• Debt = Claim on assets
• Equity = Assets minus liabilities or a claim on excess profits/cash flows
• Digital Assets = Claim on future services and customer growth
Given this backdrop, it’s possible digital assets are the only asset class not actually affected by a recession.
Related:How to Protect Your Online Privacy While Working From Home
Companies and projects in the digital asset world pre-fund themselves via the sale of tokens, thereby creating a service liability in how the token is ultimately redeemed in the future. The token can unlock usage of the product, can be used for discounts on services rendered, or in some cases can even gain economically via direct claims on future revenue.
This process is similar to companies that sell gift cards, which tend to speed up revenue recognition (booked upfront), but create a liability for the company in terms of future services/products delivered. Airline miles behave similarly as customers can earn them (or buy them), but it creates a future service liability for the airline. Notably, these future services don’t disappear during a recession and, as such, technically do not lose value.
In a fundamental way, digital assets are not actually losing value whereas the value of stocks and bonds is most definitely lower today.
The difficult conditions caused by global quarantine are simultaneously creating both demand shocks (lack of customers, job losses) and supply shocks (lack of production). This is having disastrous effects on revenue and profits (destroying equity value), and asset coverage (destroying debt recovery), but to date has had little to no effect on customer loyalty (gift cards/airline miles) or future service claims (tokens).
While fundamentals may not have mattered in the past 10 years as the “everything bubble” inflated all assets, we believe they will matter in the years ahead as revenue stagnate and debt begins to impair cash flows. At times like these, we are reminded equity and debt valuations rely on actual cash flows and hard assets, not just agreed-upon expansion multiples. Historically, the best combination for multiples has been strong growth and low inflation, but we are now entering a world of below-average growth and above-average inflation.
Further, most companies with debt and equity rely on physical customers and physical locations, and almost always rely on supply chains (with the exception of certain e-commerce companies). Conversely, most crypto companies and projects don’t have physical stores, customers or supply chains. They are the epitome of a “truly digital world.”
See also:As This Crisis Worsens, Bitcoin Will Become a Safe Haven Again
From crypto trading exchanges, to video games and virtual worlds, to decentralized finance and web 3.0, the shift from physical to digital is happening, and we believe COVID-19 is further accelerating this evolution. Just as your Delta SkyMiles and Target gift cards don’t go away or lose value during an economic crisis, neither do the intrinsic value of digital assets. These tokens are claims on future services, not claims on revenue, profit or assets. As a result, most of these digital projects and companies appear to be immune to demand shocks and supply shocks. One day we may even say “digital assets are recession-proof.”
Crypto prices may, of course, still go lower. After all, risk is risk. But, in a fundamental way, digital assets are not actually losing value whereas the value of stocks and bonds is most definitely lower today than it was earlier this year. You could certainly argue digital assets are overvalued, but not because of what has transpired over the past six weeks.
Equity value is declining as profits decline. Debt value is declining as asset value declines. Fiat currency value is being devalued by money printing. Commodity value is being harmed by a reduction in economic activity.
You can argue digital assets never had value to begin with, but it is hard to argue their value is going down right now. In fact, it may be the only asset whose true value is unchanged.
• How Blockchain Tech Can Make Coronavirus Relief More Effective
• Looking for a Safe Haven Digital Asset? Try Gold || Digital Assets Are More Recession-Proof Than You Might Think: Jeff Dorman, a CoinDesk columnist, is chief investment officer at Arca where he leads the investment committee and is responsible for portfolio sizing and risk management. He has more than 17 years of trading and asset management experience at firms including Merrill Lynch and Citadel Securities. Finding the most appropriate place to park or invest money is a subjective exercise based on the risk tolerance of an individual (or firm). But it gets even more subjective when investors begin to think about return of capital more than return on capital. Many investors stay invested in stocks throughout drawdowns, believing equity investing is about long-term historical average returns and not day-to-day or year-to-year fluctuations. Plenty of other investors prefer the safety of government or corporate bonds due to their seniority and stable cash flows. Some become concerned about counterparty risk and move money out of banks and brokerages and into cash, while others fear cash and move to gold to protect against inflation or lack of trust in local government. And, of course, a small but rising group of people want to rid themselves of as many systemic risks as possible and move into bitcoin (BTC) or other digital assets. Related: China Is Winning the Coronavirus Information War See also: Byrne Hobart Bitcoin Is a Safe Haven for a Worse Storm Than This None of these opinions are wrong. All have some merit. But the different value drivers of equity, debt and digital assets may begin to manifest from the seemingly inevitable recession that will result from the current COVID-19 pandemic. All three are arguably part of the new capital structure now, but each creates value in entirely different ways. Debt = Claim on assets Equity = Assets minus liabilities or a claim on excess profits/cash flows Digital Assets = Claim on future services and customer growth Given this backdrop, its possible digital assets are the only asset class not actually affected by a recession. Story continues Related: How to Protect Your Online Privacy While Working From Home Companies and projects in the digital asset world pre-fund themselves via the sale of tokens, thereby creating a service liability in how the token is ultimately redeemed in the future. The token can unlock usage of the product, can be used for discounts on services rendered, or in some cases can even gain economically via direct claims on future revenue. This process is similar to companies that sell gift cards, which tend to speed up revenue recognition (booked upfront), but create a liability for the company in terms of future services/products delivered. Airline miles behave similarly as customers can earn them (or buy them), but it creates a future service liability for the airline. Notably, these future services dont disappear during a recession and, as such, technically do not lose value. In a fundamental way, digital assets are not actually losing value whereas the value of stocks and bonds is most definitely lower today. The difficult conditions caused by global quarantine are simultaneously creating both demand shocks (lack of customers, job losses) and supply shocks (lack of production). This is having disastrous effects on revenue and profits (destroying equity value), and asset coverage (destroying debt recovery), but to date has had little to no effect on customer loyalty (gift cards/airline miles) or future service claims (tokens). While fundamentals may not have mattered in the past 10 years as the everything bubble inflated all assets, we believe they will matter in the years ahead as revenue stagnate and debt begins to impair cash flows. At times like these, we are reminded equity and debt valuations rely on actual cash flows and hard assets, not just agreed-upon expansion multiples. Historically, the best combination for multiples has been strong growth and low inflation, but we are now entering a world of below-average growth and above-average inflation. Further, most companies with debt and equity rely on physical customers and physical locations, and almost always rely on supply chains (with the exception of certain e-commerce companies). Conversely, most crypto companies and projects dont have physical stores, customers or supply chains. They are the epitome of a truly digital world. See also: As This Crisis Worsens, Bitcoin Will Become a Safe Haven Again From crypto trading exchanges, to video games and virtual worlds, to decentralized finance and web 3.0, the shift from physical to digital is happening, and we believe COVID-19 is further accelerating this evolution. Just as your Delta SkyMiles and Target gift cards dont go away or lose value during an economic crisis, neither do the intrinsic value of digital assets. These tokens are claims on future services, not claims on revenue, profit or assets. As a result, most of these digital projects and companies appear to be immune to demand shocks and supply shocks. One day we may even say digital assets are recession-proof. Crypto prices may, of course, still go lower. After all, risk is risk. But, in a fundamental way, digital assets are not actually losing value whereas the value of stocks and bonds is most definitely lower today than it was earlier this year. You could certainly argue digital assets are overvalued, but not because of what has transpired over the past six weeks. Equity value is declining as profits decline. Debt value is declining as asset value declines. Fiat currency value is being devalued by money printing. Commodity value is being harmed by a reduction in economic activity. You can argue digital assets never had value to begin with, but it is hard to argue their value is going down right now. In fact, it may be the only asset whose true value is unchanged. Related Stories How Blockchain Tech Can Make Coronavirus Relief More Effective Looking for a Safe Haven Digital Asset? Try Gold || Introducing CoinDesk’s All-New Newsletters: It’s a new day for CoinDesk’s newsletters.
If you previously subscribed to any ofour newsletters, you’ll notice they now look a bit different. That’s because we’ve re-launched them with new missions, dedicated authors and a fresh coat of paint. We’re also launching a brand-new newsletter with an ambitious mission: a weekly exploration of how money and value are being transformed by the rapid expansion and evolution of digital assets.
It’s calledMoney Reimagined, and it’s helmed by Chief Content Officer Michael Casey. Every Friday, Michael will take you on a tour of the most important stories in the ongoing disruption of the global financial system that began with cryptocurrency but now encompasses so much more. With his extensive experience covering money (both the old-school and digital kind), Michael brings a unique lens to this transformation, focusing on therealstories of the week, beyond the headlines.
Related:Blockchain Bites: Major Crypto Players Sued, Steem Froze Accounts and More
Our daily markets newsletter is now calledFirst Mover, a reflection of its mission to provide actionable insights on cryptocurrency markets as well as the time it hits your inbox — 7 a.m. Eastern, every weekday. First Mover starts your day with the most up-to-date sentiment around crypto markets, which of course never close, putting in context every wild swing in bitcoin and other assets. We follow the money so you don’t have to.
Crypto Long & Shortis the new name for our Institutional Crypto newsletter, one that reflects the growing variety in its audience in the professional investment community. There is no better guide to the nuances of cryptocurrency markets and the myriad ways they differ from traditional ones than CoinDesk’s head of research, Noelle Acheson. Noelle’s passion for unearthing the first principles of crypto investing is matched only by her ability to write so thoughtfully about it.
And it’s still incredibly easy to stay abreast of the most current stories that intersect cryptocurrency, blockchain, markets and more with our dailynewsnewsletter,Blockchain Bites. More than just rounding up the day’s news, curator Daniel Kuhn zeroes in which ones really matter and why.
You can subscribe to any or all of our email newslettersright here. We’re quite proud of the new lineup, so if you’ve never subscribed to CoinDesk, this is the perfect time. We’d also love to hear what you think and how we can make these products even more useful. Send feedback tonewsletters@coindesk.comor just email me directly atppachal@coindesk.com.
Related:First Mover: Trillions in Coronavirus Stimulus Bring Out the Bitcoin Bulls
We know it’s a privilege to have a spot in your inbox every day, and we aim to earn it — with indispensable news, analysis and opinion — every single time. || Introducing CoinDesk’s All-New Newsletters: It’s a new day for CoinDesk’s newsletters. If you previously subscribed to any of our newsletters , you’ll notice they now look a bit different. That’s because we’ve re-launched them with new missions, dedicated authors and a fresh coat of paint. We’re also launching a brand-new newsletter with an ambitious mission: a weekly exploration of how money and value are being transformed by the rapid expansion and evolution of digital assets. It’s called Money Reimagined , and it’s helmed by Chief Content Officer Michael Casey. Every Friday, Michael will take you on a tour of the most important stories in the ongoing disruption of the global financial system that began with cryptocurrency but now encompasses so much more. With his extensive experience covering money (both the old-school and digital kind), Michael brings a unique lens to this transformation, focusing on the real stories of the week, beyond the headlines. Related: Blockchain Bites: Major Crypto Players Sued, Steem Froze Accounts and More Our daily markets newsletter is now called First Mover , a reflection of its mission to provide actionable insights on cryptocurrency markets as well as the time it hits your inbox — 7 a.m. Eastern, every weekday. First Mover starts your day with the most up-to-date sentiment around crypto markets, which of course never close, putting in context every wild swing in bitcoin and other assets. We follow the money so you don’t have to. Crypto Long & Short is the new name for our Institutional Crypto newsletter, one that reflects the growing variety in its audience in the professional investment community. There is no better guide to the nuances of cryptocurrency markets and the myriad ways they differ from traditional ones than CoinDesk’s head of research, Noelle Acheson. Noelle’s passion for unearthing the first principles of crypto investing is matched only by her ability to write so thoughtfully about it. And it’s still incredibly easy to stay abreast of the most current stories that intersect cryptocurrency, blockchain, markets and more with our daily news newsletter, Blockchain Bites . More than just rounding up the day’s news, curator Daniel Kuhn zeroes in which ones really matter and why. Story continues You can subscribe to any or all of our email newsletters right here . We’re quite proud of the new lineup, so if you’ve never subscribed to CoinDesk, this is the perfect time. We’d also love to hear what you think and how we can make these products even more useful. Send feedback to newsletters@coindesk.com or just email me directly at ppachal@coindesk.com . Related: First Mover: Trillions in Coronavirus Stimulus Bring Out the Bitcoin Bulls We know it’s a privilege to have a spot in your inbox every day, and we aim to earn it — with indispensable news, analysis and opinion — every single time. || Gemini is adding support for Brave browser’s BAT token: Crypto exchange Gemini is adding support for Brave browser’s BAT token later this month. Announcing the news on Monday, Gemini said users will be able to deposit BAT into their accounts beginning on April 24. Trading support for the token would be added "soon" thereafter. Once listed, BAT would be the sixth digital asset available for trading on Gemini, joining bitcoin (BTC), ether (ETH), bitcoin cash (BCH), litecoin (LTC) and Zcash. "We will be offering USD, BTC, and ETH trading pairs for BAT on both our continuous order book and our automated block trading system," said Gemini. A representative later told The Block in an email: "At Gemini, we’re always looking at interesting crypto products that move the industry forward. The Basic Attention Token (BAT) has a proven market and its novel usage suggests that demand will continue to grow as the ecosystem evolves." Notably, users will have to create a new Ethereum deposit address for depositing BAT tokens as existing Gemini Ethereum addresses are not supported, per the announcement. Just last month, Brave added 1 million new users amid the coronavirus pandemic. That number brings the browser's monthly active users (MAU) to 13.5 million and daily active users (DAU) to 4.3 million as of March 2020. || Gemini is adding support for Brave browser’s BAT token: Crypto exchange Gemini is adding support for Brave browser’s BAT token later this month.
Announcing the news on Monday, Geminisaidusers will be able to deposit BAT into their accounts beginning on April 24. Trading support for the token would be added "soon" thereafter.Once listed, BAT would be the sixth digital asset available for trading on Gemini, joining bitcoin (BTC), ether (ETH), bitcoin cash (BCH), litecoin (LTC) and Zcash.
"We will be offering USD, BTC, and ETH trading pairs for BAT on both our continuous order book and our automated block trading system," said Gemini.
A representative later told The Block in an email: "At Gemini, we’re always looking at interesting crypto products that move the industry forward. The Basic Attention Token (BAT) has a proven market and its novel usage suggests that demand will continue to grow as the ecosystem evolves."
Notably, users will have to create a new Ethereum deposit address for depositing BAT tokens as existing Gemini Ethereum addresses are not supported, per the announcement.Just last month, Braveadded1 million new users amid the coronavirus pandemic. That number brings the browser's monthly active users (MAU) to 13.5 million and daily active users (DAU) to 4.3 million as of March 2020.
[Social Media Buzz]
None available.
|
7334.10, 7302.09, 6865.49, 6859.08, 6971.09, 6845.04, 6842.43, 6642.11, 7116.80, 7096.18
|
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 641.63, 639.19, 637.96, 630.52, 630.86, 632.83, 657.29, 657.07, 653.76, 657.59, 678.30, 688.31, 689.65, 714.48, 701.86, 700.97, 729.79, 740.83, 688.70, 703.23, 703.42, 711.52, 703.13, 709.85, 723.27, 715.53, 716.41, 705.05, 702.03, 705.02, 711.62, 744.20, 740.98, 751.59, 751.62, 731.03, 739.25, 751.35, 744.59, 740.29, 741.65, 735.38, 732.03, 735.81, 735.60, 745.69, 756.77, 777.94, 771.16, 773.87, 758.70, 764.22, 768.13, 770.81, 772.79, 774.65, 769.73, 780.09, 780.56, 781.48, 778.09, 784.91, 790.83, 790.53, 792.71, 800.88, 834.28, 864.54, 921.98, 898.82, 896.18, 907.61, 933.20, 975.92, 973.50, 961.24, 963.74, 998.33, 1021.75, 1043.84, 1154.73, 1013.38, 902.20, 908.59, 911.20, 902.83, 907.68, 777.76, 804.83, 823.98.
|
[Bitcoin Technical Analysis for 2017-01-13]
Volume: 168968000, RSI (14-day): 42.40, 50-day EMA: 855.58, 200-day EMA: 706.67
[Wider Market Context]
Gold Price: 1195.30, Gold RSI: 61.01
Oil Price: 52.37, Oil RSI: 51.92
[Recent News (last 7 days)]
China's media is about to go to 'war' Russia style: (Reuters)
China is consolidating its overseas news network, CCTV, and giving it a makeover,according to the Associated Press.The network will be called CGTN.
At the same time, Xinhua, China's official state news network, will consolidate a bunch of outlets under a new umbrella to focus itsfinancial-reportingefforts. China Securities Journal, Shanghai Securities News, Economic Information Daily and Xinhua Publishing House will all now be housed underChina Fortune Media Corporation Group.
Xinhua says this is an effort to deepen "the central authority's reforms of the cultural system" and "increasing mainstream media's influence in the area of financial information."
This move shows China following the example of Russia's state-backed international network, RT. China wants more control over its story — specifically the story of its economy — being told around the world, in similar fashion to how RT acts to spread Russia's viewpoint across the globe.
Chinese media has always been tightly controlled by the state, but under Xi Jinping that has taken on a whole new meaning. Around this last time last year, Xiwas visiting newsroomsensuring that journalists and executives had sworn their loyalty to the Chinese Communist Party.
"All news media run by the Party must work to speak for the Party's will and its propositions and protect the Party's authority and unity," Xi was quoted as saying. Xi has called for this ideological uniformity when it comes to all kinds of thought from education at all levels to Chinese think tanks.
CCTV has been around since 1958 and has been available globally and available in English, Arabic, French, Spanish, and Russian for years, and it has a bureau in DC.
In 2011, I toured their DC facilities as part of a Columbia Journalism project researching global media networks — Iran's Press TV, France's France 24, Qatar's Al Jazeera, Russia's Russia Today (RT), and China's CCTV. The Columbia group found CCTV's content mostly boring but inoffensive: Officials doing ribbon-cutting ceremonies at new infrastructure projects and Chinese cultural content.
Of course until 2008 RT operated in much the same way. It was meant to be a friendly introduction to Russia. After President George W. Bush became vocal about his opposition to Russia's incursion into neighboring former Soviet state Georgia, however, things changed. RT's directive then morphed into challenging the US as a superpower and questioning the legitimacy of its government.
In an interview withGermany's Der Spiegel in 2013,RT'sEditor-in-chief, Margarita Simonyan, said that during the Georgia conflict Western media "acted as if they were Georgia's ministry of defense."
A year later she referred to what her network does as fighting in"a media war."
With China's focus on the financial world, it appears its aims will not be exactly like Russia's: China could be seeking to spread its economic message, while RT tends more toward the geopolitical. The Chinese economy is under strain thanks to years of exploding debt (now approaching 280% of GDP) and currency leaving the country at an eye-popping rate ($82 billion in December). This move will shore up China's economic messaging not just at home but also abroad.
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• Bitcoin is still dropping || China's media is about to go to 'war' Russia style: xi jinping screen (Reuters) China is consolidating its overseas news network, CCTV, and giving it a makeover, according to the Associated Press. The network will be called CGTN. At the same time, Xinhua, China's official state news network, will consolidate a bunch of outlets under a new umbrella to focus its financial-reporting efforts. China Securities Journal, Shanghai Securities News, Economic Information Daily and Xinhua Publishing House will all now be housed under China Fortune Media Corporation Group. Xinhua says this is an effort to deepen "the central authority's reforms of the cultural system" and "increasing mainstream media's influence in the area of financial information." This move shows China following the example of Russia's state-backed international network, RT. China wants more control over its story specifically the story of its economy being told around the world, in similar fashion to how RT acts to spread Russia's viewpoint across the globe. Chinese media has always been tightly controlled by the state, but under Xi Jinping that has taken on a whole new meaning. Around this last time last year, Xi was visiting newsrooms ensuring that journalists and executives had sworn their loyalty to the Chinese Communist Party. "All news media run by the Party must work to speak for the Party's will and its propositions and protect the Party's authority and unity," Xi was quoted as saying. Xi has called for this ideological uniformity when it comes to all kinds of thought from education at all levels to Chinese think tanks. CCTV has been around since 1958 and has been available globally and available in English, Arabic, French, Spanish, and Russian for years, and it has a bureau in DC. In 2011, I toured their DC facilities as part of a Columbia Journalism project researching global media networks Iran's Press TV, France's France 24, Qatar's Al Jazeera, Russia's Russia Today (RT), and China's CCTV. T he Columbia group found CCTV's content mostly boring but inoffensive: Officials doing ribbon-cutting ceremonies at new infrastructure projects and Chinese cultural content. Story continues Of course until 2008 RT operated in much the same way. It was meant to be a friendly introduction to Russia. After President George W. Bush became vocal about his opposition to Russia's incursion into neighboring former Soviet state Georgia, however, things changed. RT's directive then morphed into challenging the US as a superpower and questioning the legitimacy of its government. In an interview with Germany's Der Spiegel in 2013, RT's Editor-in-chief, Margarita Simonyan, said that during the Georgia conflict Western media " acted as if they were Georgia's ministry of defense." A year later she referred to what her network does as fighting in "a media war." With China's focus on the financial world, it appears its aims will not be exactly like Russia's: China could be seeking to spread its economic message, while RT tends more toward the geopolitical. The Chinese economy is under strain thanks to years of exploding debt (now approaching 280% of GDP) and currency leaving the country at an eye-popping rate ($82 billion in December). This move will shore up China's economic messaging not just at home but also abroad. NOW WATCH: Here's the massive gap in average income between the top 1% and the bottom 99% in every state More From Business Insider Bitcoin plunged again Lincoln is outperforming the luxury auto market Bitcoin is still dropping || COLUMN-Trump border tax to pile on China capital flight pressure: James Saft: (The opinions expressed here are those of the author, a columnist for Reuters) By James Saft Jan 12 (Reuters) - The 'border tax' Donald Trump and Republicans are considering will spur capital flight from China, with potentially large repercussions. House Republicans back a plan for a border tax adjustment, discussed at 20 percent, which would impose a levy on imports while granting rebates to exports. While the Republican and Trump plans call for a border tax on all imports as a means to favor domestic production, Trump has also used the term to describe a punitive tax he threatens to levy directly on imports of companies which move production abroad. As ever with Trump, it is highly unclear what he intends or will attempt. Trump has in the past floated the idea of a 45 percent tariff on Chinese imports to the U.S., a higher rate than is being discussed for the border tax adjustment. For China, and for financial markets, this is going to cause trouble, and not just because it would make Chinese and other foreign imports to the U.S. less competitive. A border tax implies a strengthening of the dollar, prompting former Treasury Secretary Lawrence Summers to warn this week of a "spike" in the greenback. All else being equal, which it seldom is, a 20 percent border tax should prompt a similarly large appreciation in the dollar. That won't likely happen, in part because other countries will pile in with their own border taxes or other measures, but the dollar would get a sizable boost. That poses a complex set of problems for China. Global dollar borrowing conditions would become more expensive and, importantly, pressure would intensify on the yuan to weaken in response. "The threat to Chinese stability at a time when it is already having trouble trying to limit capital flight from a new disruption of trade is a legitimate concern," David Levy of the Jerome Levy Forecasting Center said in an interview. "This is not a great time from a Chinese point of view or global stability point of view to have anything that is disruptive to the flow of trade." Story continues One fear is that Chinese yuan owners, anticipating a dollar spike, will try to front-run the effects on the yuan, seeking to move money into other currencies or stores of value, either by following Chinese rules or by skirting them. The yuan, which trades in a band set by China, fell by 6.6 percent against the dollar in 2016 in a self-reinforcing downdraft. CAPITAL FLOATS, USUALLY To be sure, China is not the nation most vulnerable to dollar strength. That honor belongs to emerging market countries which run a current account deficit and must attract dollars for financing. Yet two years of strong capital outflows have depleted China's once, and arguably still, massive foreign currency reserves. China's reserves fell by about $320 billion to $3.011 trillion in 2016, less than the $513 billion decline of 2015 but also despite wide-ranging efforts by China to make capital flight more difficult. Seeking to circumvent capital controls, owners of yuan in China have turned to cryptocurrency Bitcoin, which more than doubled in value between September and Jan. 4. "Spot checks" on Bitcoin exchanges in China by state authorities this week sent Bitcoin down by 12 percent. At any rate, money is eager to leave by any route possible. China still has huge FX reserves, but an IMF adequacy framework implies it needs to keep about $2.7 trillion on hand. At last year's depletion rate we will soon be there, and if a border tax accelerates matters the issue could soon become urgent. Asset management behemoth PIMCO said on Thursday China might float its currency in 2017. Yu Yongding, an influential former advisor to the People's Bank of China, said on Thursday the central bank should set a "bottom line" depreciation level for the yuan in 2017 of 25 percent. Floating the yuan would certainly be a taste of his own medicine for Trump, who has threatened to brand the country a currency manipulator. It would also, however, potentially cause a very strong outflow of capital. Foreign exchange reserves would be preserved but capital flight could become a problem, and a limit on other policies. China is notable in that, with a semi-closed economy and great central control, it has been able to stimulate its way out of various upsets during and after the financial crisis. China may find it has less room to maneuver if capital is leaving, or if the yuan depreciates greatly, with or without a float. Remember too, all of this would be happening in and to China while most of the other emerging markets go through a crisis of similar origin. Regardless of its impact on U.S. exports, a border tax could easily cause massive turbulence in global markets. (Editing by James Dalgleish) || COLUMN-Trump border tax to pile on China capital flight pressure: James Saft: (The opinions expressed here are those of the author, a columnist for Reuters)
By James Saft
Jan 12 (Reuters) - The 'border tax' Donald Trump and Republicans are considering will spur capital flight from China, with potentially large repercussions.
House Republicans back a plan for a border tax adjustment, discussed at 20 percent, which would impose a levy on imports while granting rebates to exports.
While the Republican and Trump plans call for a border tax on all imports as a means to favor domestic production, Trump has also used the term to describe a punitive tax he threatens to levy directly on imports of companies which move production abroad. As ever with Trump, it is highly unclear what he intends or will attempt.
Trump has in the past floated the idea of a 45 percent tariff on Chinese imports to the U.S., a higher rate than is being discussed for the border tax adjustment.
For China, and for financial markets, this is going to cause trouble, and not just because it would make Chinese and other foreign imports to the U.S. less competitive.
A border tax implies a strengthening of the dollar, prompting former Treasury Secretary Lawrence Summers to warn this week of a "spike" in the greenback. All else being equal, which it seldom is, a 20 percent border tax should prompt a similarly large appreciation in the dollar. That won't likely happen, in part because other countries will pile in with their own border taxes or other measures, but the dollar would get a sizable boost.
That poses a complex set of problems for China. Global dollar borrowing conditions would become more expensive and, importantly, pressure would intensify on the yuan to weaken in response.
"The threat to Chinese stability at a time when it is already having trouble trying to limit capital flight from a new disruption of trade is a legitimate concern," David Levy of the Jerome Levy Forecasting Center said in an interview.
"This is not a great time from a Chinese point of view or global stability point of view to have anything that is disruptive to the flow of trade."
One fear is that Chinese yuan owners, anticipating a dollar spike, will try to front-run the effects on the yuan, seeking to move money into other currencies or stores of value, either by following Chinese rules or by skirting them.
The yuan, which trades in a band set by China, fell by 6.6 percent against the dollar in 2016 in a self-reinforcing downdraft.
CAPITAL FLOATS, USUALLY
To be sure, China is not the nation most vulnerable to dollar strength. That honor belongs to emerging market countries which run a current account deficit and must attract dollars for financing.
Yet two years of strong capital outflows have depleted China's once, and arguably still, massive foreign currency reserves. China's reserves fell by about $320 billion to $3.011 trillion in 2016, less than the $513 billion decline of 2015 but also despite wide-ranging efforts by China to make capital flight more difficult. Seeking to circumvent capital controls, owners of yuan in China have turned to cryptocurrency Bitcoin, which more than doubled in value between September and Jan. 4. "Spot checks" on Bitcoin exchanges in China by state authorities this week sent Bitcoin down by 12 percent. At any rate, money is eager to leave by any route possible.
China still has huge FX reserves, but an IMF adequacy framework implies it needs to keep about $2.7 trillion on hand. At last year's depletion rate we will soon be there, and if a border tax accelerates matters the issue could soon become urgent.
Asset management behemoth PIMCO said on Thursday China might float its currency in 2017. Yu Yongding, an influential former advisor to the People's Bank of China, said on Thursday the central bank should set a "bottom line" depreciation level for the yuan in 2017 of 25 percent.
Floating the yuan would certainly be a taste of his own medicine for Trump, who has threatened to brand the country a currency manipulator. It would also, however, potentially cause a very strong outflow of capital. Foreign exchange reserves would be preserved but capital flight could become a problem, and a limit on other policies.
China is notable in that, with a semi-closed economy and great central control, it has been able to stimulate its way out of various upsets during and after the financial crisis. China may find it has less room to maneuver if capital is leaving, or if the yuan depreciates greatly, with or without a float.
Remember too, all of this would be happening in and to China while most of the other emerging markets go through a crisis of similar origin.
Regardless of its impact on U.S. exports, a border tax could easily cause massive turbulence in global markets.
(Editing by James Dalgleish) || Why China’s central bank fears bitcoin: It was only one week ago that the price of the digital currency bitcoin hit a new all-time high of $1,130. Now the price has fallen precipitously, and was hovering around $800 on Thursday afternoon. The reason is China. The People’s Bank of China (PBOC) said on Wednesday that it plans regular on-site inspections of the leading Chinese bitcoin exchanges, including BTCChina, Huobi, and OKCoin. This came after PBOC officers in Beijing visited the offices of Huobi and OKCoin, and PBOC officers in Shanghai visited the offices of BTCC, for checkups that, “focused on whether the firm was operating out of its business scope, whether it was launching unauthorized financing, payment, forex business or other related businesses, whether it was involved in market manipulation, anti-money laundering or (carried) fund security risks,” as Reuters translated the PBOC statement. The price of bitcoin fell sharply on the news. Bitcoin price so far in 2017. (via Coindesk) Five days earlier, the PBOC issued press releases, in Beijing and Shanghai, that contained a more general warning about bitcoin. The releases recirculated a government statement from back in 2013 stating that the Chinese government does not recognize bitcoin as a currency, and that it carries investment risk. The price of bitcoin fell 12% in the aftermath, but then recovered. It was climbing back when the PBOC announced its inspections on January 11, sending the price down again, as much as 15% at one point. The PBOC did not say bitcoin is illegal, or expressly tell Chinese citizens they cannot buy bitcoin. But clearly, China’s central bank is stepping up its public war on bitcoin. Why? Bitcoin is frequently thought to be an uncorrelated asset to the broader global market—that is, its trading price is not tied to stocks. (In that way it has been compared to gold .) Speculators see bitcoin as a “safe haven” investment for two scenarios: tightened capital controls, and general market uncertainty. At the moment, investors in China see both of those happening: The PBOC cracked down with stricter capital controls in 2016, and the price of the yuan has fallen 5% against the dollar over the past 12 months. Story continues Chinese authorities have taken note of the move toward bitcoin, and they are trying to throw cold water on the coin in order to tamp down capital outflows and help the yuan. Will it work? It clearly affected prices, but bitcoin has regular price hikes and falls, and it has fallen much farther than this before—usually after a reported hack of a major bitcoin exchange, like the bitcoin “flash crash” in 2013 after the fall of Mt. Gox. The price already appeared to be climbing back on Thursday, after hitting a low around $760. And the price is still up 87% in the past 12 months, and 246% in the past two years. The latest two actions by the PBOC aren’t the damaging blow that some news outlets are making them out to be. The first was simply a warning that bitcoin is volatile. That’s true (though it has been less volatile over the past two years), as one of the targeted exchanges, BTCC, acknowledged in a muted public response to the PBOC release: “The press release put forth from the PBOC today outlines that there is significant volatility in bitcoin trading… bitcoin is a virtual good and doesn’t have legal tender status.” The second was just an indication China will watch bitcoin companies more closely. In fact, BTCC CEO Bobby Lee t old Coindesk , “We’re now working closely with the government about what makes a healthy market… We’ve been trying to get their attention for years.” Make no mistake: China is the most important market for bitcoin prices. During the price ride at the end of 2016 and in the first week of 2017, more than 90% of trading volume was coming from China. Positive sentiment toward bitcoin among Chinese investors is crucial to a high bitcoin price. And while China’s central bank succeeded this week in bringing bitcoin back down to earth, it is very unlikely that Chinese bitcoin buyers have been turned off for good. Here’s what to expect next, although it could take a few years: the Chinese government will likely begin regulating the major bitcoin companies there, and making them go through licensing hurdles. That may turn out to be good for the price. That’s what happened in the U.S. in 2013, when the government began to regulate and license bitcoin companies as “money transmitters”: the price rallied thanks to regulatory clarity. “If the end result is there’s actually kind of some legitimacy around regulation of this in China, then I actually think the market rallies,” says Jeremy Allaire, CEO of the peer-to-peer payments company Circle . “It will be very interesting to see if the outcome of the People’s Bank of China examining [bitcoin exchanges] leads to new guidance, new rules. Even if there’s enforcement actions, the result and output might actually be more legitimacy.” — Daniel Roberts is a writer at Yahoo Finance, covering technology and sports business. Follow him on Twitter at @readDanwrite . Read more: Bitcoin is becoming the new gold Expect more blockchain hype in 2017 Here’s where big banks stand on blockchain Why 21.co is the most exciting bitcoin company right now Coinbase is more bullish on bitcoin than ever || Why China’s central bank fears bitcoin: It was only one week ago that the price of the digital currency bitcoin hit a new all-time high of $1,130. Now the price has fallen precipitously, and was hovering around $800 on Thursday afternoon. The reason is China. The People’s Bank of China (PBOC) said on Wednesday that it plans regular on-site inspections of the leading Chinese bitcoin exchanges, including BTCChina, Huobi, and OKCoin. This came after PBOC officers in Beijing visited the offices of Huobi and OKCoin, and PBOC officers in Shanghai visited the offices of BTCC, for checkups that, “focused on whether the firm was operating out of its business scope, whether it was launching unauthorized financing, payment, forex business or other related businesses, whether it was involved in market manipulation, anti-money laundering or (carried) fund security risks,” as Reuters translated the PBOC statement. The price of bitcoin fell sharply on the news. Bitcoin price so far in 2017. (via Coindesk) Five days earlier, the PBOC issued press releases, in Beijing and Shanghai, that contained a more general warning about bitcoin. The releases recirculated a government statement from back in 2013 stating that the Chinese government does not recognize bitcoin as a currency, and that it carries investment risk. The price of bitcoin fell 12% in the aftermath, but then recovered. It was climbing back when the PBOC announced its inspections on January 11, sending the price down again, as much as 15% at one point. The PBOC did not say bitcoin is illegal, or expressly tell Chinese citizens they cannot buy bitcoin. But clearly, China’s central bank is stepping up its public war on bitcoin. Why? Bitcoin is frequently thought to be an uncorrelated asset to the broader global market—that is, its trading price is not tied to stocks. (In that way it has been compared to gold .) Speculators see bitcoin as a “safe haven” investment for two scenarios: tightened capital controls, and general market uncertainty. At the moment, investors in China see both of those happening: The PBOC cracked down with stricter capital controls in 2016, and the price of the yuan has fallen 5% against the dollar over the past 12 months. Story continues Chinese authorities have taken note of the move toward bitcoin, and they are trying to throw cold water on the coin in order to tamp down capital outflows and help the yuan. Will it work? It clearly affected prices, but bitcoin has regular price hikes and falls, and it has fallen much farther than this before—usually after a reported hack of a major bitcoin exchange, like the bitcoin “flash crash” in 2013 after the fall of Mt. Gox. The price already appeared to be climbing back on Thursday, after hitting a low around $760. And the price is still up 87% in the past 12 months, and 246% in the past two years. The latest two actions by the PBOC aren’t the damaging blow that some news outlets are making them out to be. The first was simply a warning that bitcoin is volatile. That’s true (though it has been less volatile over the past two years), as one of the targeted exchanges, BTCC, acknowledged in a muted public response to the PBOC release: “The press release put forth from the PBOC today outlines that there is significant volatility in bitcoin trading… bitcoin is a virtual good and doesn’t have legal tender status.” The second was just an indication China will watch bitcoin companies more closely. In fact, BTCC CEO Bobby Lee t old Coindesk , “We’re now working closely with the government about what makes a healthy market… We’ve been trying to get their attention for years.” Make no mistake: China is the most important market for bitcoin prices. During the price ride at the end of 2016 and in the first week of 2017, more than 90% of trading volume was coming from China. Positive sentiment toward bitcoin among Chinese investors is crucial to a high bitcoin price. And while China’s central bank succeeded this week in bringing bitcoin back down to earth, it is very unlikely that Chinese bitcoin buyers have been turned off for good. Here’s what to expect next, although it could take a few years: the Chinese government will likely begin regulating the major bitcoin companies there, and making them go through licensing hurdles. That may turn out to be good for the price. That’s what happened in the U.S. in 2013, when the government began to regulate and license bitcoin companies as “money transmitters”: the price rallied thanks to regulatory clarity. “If the end result is there’s actually kind of some legitimacy around regulation of this in China, then I actually think the market rallies,” says Jeremy Allaire, CEO of the peer-to-peer payments company Circle . “It will be very interesting to see if the outcome of the People’s Bank of China examining [bitcoin exchanges] leads to new guidance, new rules. Even if there’s enforcement actions, the result and output might actually be more legitimacy.” — Daniel Roberts is a writer at Yahoo Finance, covering technology and sports business. Follow him on Twitter at @readDanwrite . Read more: Bitcoin is becoming the new gold Expect more blockchain hype in 2017 Here’s where big banks stand on blockchain Why 21.co is the most exciting bitcoin company right now Coinbase is more bullish on bitcoin than ever || First Bitcoin Capital Adds Innovative Automated Check Cashing ATM Solution for Cannabis Dispensaries’ Clientele: VANCOUVER, BC / ACCESSWIRE / January 12, 2017 / FIRST BITCOIN CAPITAL CORP. (OTC PINK: BITCF), a leading bitcoin and cryptocurrency developer, specializing in both blockchain and online merchant payment solutions for medical marijuana dispensaries and other high-risk merchant accounts and services, today announced the signing of an Exclusive Master Distributor Agreement to distribute a new type of fully automated check cashing ATM designed for use in medical cannabis dispensaries for the State of California. BITCF will add this check cashing ATM service to complete a full suite of financial services for the medical marijuana industry: merchant processing and POS solutions through its alliance network, a fully compliant, user friendly solution to accept Credit and Debit Cards through traditional Merchant Card Processing networks. The check cashing ATMs marketing efforts will be focused toward larger established medical marijuana dispensaries. Fees for the check cashing services will be competitive. Dispensary customers using the service will be able to cash all types of checks: government issued checks, payroll checks and other types. Cannabis dispensaries service all kinds of customers. Many of those are unbanked and may need to cash checks before purchasing. Offering check cashing services on premises to this group of customers will be a very attractive way to increase revenues, as dispensary owners are looking for new ways to draw more customers because of check cashing convenience. According to FDIC (Federal Deposit Insurance Corporation) recent 2015 National Survey of Unbanked and Underbanked Households, indicates that more than 7 percent of households in the United States were unbanked in 2015. This proportion represents approximately 9.0 million households. An additional 19.9 percent of U.S. households (24.5 million) were underbanked, meaning that the household had a checking or savings account but also obtained financial products and services outside of the banking system. By offering check cashing, our ATM Division expects that dispensaries will increase their customer base by 18%. Story continues BITCF uses sophisticated fully automated risk analysis algorithms and underwriting procedures, resulting in 100% guarantee to the dispensary owners. Summary of benefits of our services for the cannabis dispensaries and their customers: Any types of checks can be cashed, including Payroll checks, Insurance checks, Personal checks, business checks, money orders, government issued checks and the funds can be credited to the Dispensaries bank account instead of their client pulling out and paying in cash. Regulatory Compliance: The check cashing ATM will be installed pre-programmed to comply with all state, local federal regulations in California. First Bitcoin is also developing a system that will enable dispensaries to accept Bitcoin and other cryptocurrencies as a form of legal payment. Stater of California has already enacted legislation that makes Bitcoin and similar digital currencies legal tender. BITCF has developed specific programs to meet the unique needs of the medical cannabis industry. Offering merchant services at competitive rates for businesses operating legally under state law of California and Oregon, the company can now provide financial services not typically available from conventional banks. While legalization of marijuana in many forms – and in many states – garnered over $5 billion dollars in 2016, the sums are expected to grow for 2017. More innovative and unique products are being created, and the stigma that once surrounded cannabis is slowly fading. These changes are helping the medical cannabis industry to prosper now that federal policies allow dispensaries to sell, grow, or possess cannabis while compliant with state laws. BITCF will only provide these services where federal policies allow our business model to proceed for dispensaries that are fully compliant with state and country laws, rules and regulations. Should your dispensary be interested in these services please contact us by email: info@bitcoincapitalcorp.com About the company: First Bitcoin Capital is engaged in developing digital currencies, proprietary Blockchain technologies, financial processing services and the digital currency exchange- www.CoinQX.com. We see this step as a tremendous opportunity to create further shareholder value by leveraging management's experience in developing and managing complex Blockchain technologies, developing new types of digital assets. Being the first publicly-traded cryptocurrency and blockchain-centered company (with shares both traded in the US OTC Markets as [BITCF] and as [BIT] in crypto exchanges) we want to provide our shareholders with diversified exposure to digital and blockchain technologies. At this time the Company owns and operates the following digital assets. www.CoinQX.com cryptocurrency exchange, registered with FINCEN. www.iCoiNEWS.com real time cryptocurrency and bitcoin news site. www.BITminer.cc providing mining pool management services. www.2016coin.org online daily election coverage and home page for $PRES, $HILL, $GARY& $BURN -commemorative presidential election coins. www.bitcannpay.com Financial and merchant services for medical cannabis dispensaries. Forward-Looking Statements Certain statements contained in this press release may constitute "forward-looking statements." Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors as may be disclosed in company's filings. In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic conditions, and governmental and public policy changes. The forward-looking statements included in this press release represent the Company's views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of the press release. Such forward-looking statements are risks that are detailed in the Company's filings, which are on file at www.OTCMarkets.com. Contact us via: info@bitcoincapitalcorp.com or visit http://www.bitcoincapitalcorp.com SOURCE: First Bitcoin Capital Corp. || First Bitcoin Capital Adds Innovative Automated Check Cashing ATM Solution for Cannabis Dispensaries’ Clientele: VANCOUVER, BC / ACCESSWIRE / January 12, 2017 /FIRST BITCOIN CAPITAL CORP. (OTC PINK: BITCF), a leading bitcoin and cryptocurrency developer, specializing in both blockchain and online merchant payment solutions for medical marijuana dispensaries and other high-risk merchant accounts and services, today announced the signing of an Exclusive Master Distributor Agreement to distribute a new type of fully automated check cashing ATM designed for use in medical cannabis dispensaries for the State of California. BITCF will add this check cashing ATM service to complete a full suite of financial services for the medical marijuana industry: merchant processing and POS solutions through its alliance network, a fully compliant, user friendly solution to accept Credit and Debit Cards through traditional Merchant Card Processing networks. The check cashing ATMs marketing efforts will be focused toward larger established medical marijuana dispensaries.
Fees for the check cashing services will be competitive. Dispensary customers using the service will be able to cash all types of checks: government issued checks, payroll checks and other types. Cannabis dispensaries service all kinds of customers. Many of those are unbanked and may need to cash checks before purchasing. Offering check cashing services on premises to this group of customers will be a very attractive way to increase revenues, as dispensary owners are looking for new ways to draw more customers because of check cashing convenience.
According to FDIC (Federal Deposit Insurance Corporation) recent 2015 National Survey of Unbanked and Underbanked Households, indicates that more than 7 percent of households in the United States were unbanked in 2015. This proportion represents approximately 9.0 million households. An additional 19.9 percent of U.S. households (24.5 million) were underbanked, meaning that the household had a checking or savings account but also obtained financial products and services outside of the banking system. By offering check cashing, our ATM Division expects that dispensaries will increase their customer base by 18%.
BITCF uses sophisticated fully automated risk analysis algorithms and underwriting procedures, resulting in 100% guarantee to the dispensary owners.
Summary of benefits of our services for the cannabis dispensaries and their customers:
Any types of checks can be cashed, including Payroll checks, Insurance checks, Personal checks, business checks, money orders, government issued checks and the funds can be credited to the Dispensaries bank account instead of their client pulling out and paying in cash.
Regulatory Compliance: The check cashing ATM will be installed pre-programmed to comply with all state, local federal regulations in California.
First Bitcoin is also developing a system that will enable dispensaries to accept Bitcoin and other cryptocurrencies as a form of legal payment. Stater of California has already enacted legislation that makes Bitcoin and similar digital currencies legal tender.
BITCF has developed specific programs to meet the unique needs of the medical cannabis industry. Offering merchant services at competitive rates for businesses operating legally under state law of California and Oregon, the company can now provide financial services not typically available from conventional banks.
While legalization of marijuana in many forms – and in many states – garnered over $5 billion dollars in 2016, the sums are expected to grow for 2017. More innovative and unique products are being created, and the stigma that once surrounded cannabis is slowly fading. These changes are helping the medical cannabis industry to prosper now that federal policies allow dispensaries to sell, grow, or possess cannabis while compliant with state laws. BITCF will only provide these services where federal policies allow our business model to proceed for dispensaries that are fully compliant with state and country laws, rules and regulations.
Should your dispensary be interested in these services please contact us by email:info@bitcoincapitalcorp.com
About the company:
First Bitcoin Capital is engaged in developing digital currencies, proprietary Blockchain technologies, financial processing services and the digital currency exchange-www.CoinQX.com.We see this step as a tremendous opportunity to create further shareholder value by leveraging management's experience in developing and managing complex Blockchain technologies, developing new types of digital assets. Being the first publicly-traded cryptocurrency and blockchain-centered company (with shares both traded in the US OTC Markets as [BITCF] and as [BIT] in crypto exchanges) we want to provide our shareholders with diversified exposure to digital and blockchain technologies. At this time the Company owns and operates the following digital assets.
www.CoinQX.comcryptocurrency exchange, registered with FINCEN.
www.iCoiNEWS.comreal time cryptocurrency and bitcoin news site.
www.BITminer.ccproviding mining pool management services.
www.2016coin.orgonline daily election coverage and home page for $PRES, $HILL, $GARY& $BURN -commemorative presidential election coins.
www.bitcannpay.comFinancial and merchant services for medical cannabis dispensaries.
Forward-Looking Statements
Certain statements contained in this press release may constitute "forward-looking statements." Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors as may be disclosed in company's filings. In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic conditions, and governmental and public policy changes. The forward-looking statements included in this press release represent the Company's views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of the press release. Such forward-looking statements are risks that are detailed in the Company's filings, which are on file atwww.OTCMarkets.com.
Contact us via:info@bitcoincapitalcorp.comor visithttp://www.bitcoincapitalcorp.com
SOURCE:First Bitcoin Capital Corp. || First Bitcoin Capital Adds Innovative Automated Check Cashing ATM Solution for Cannabis Dispensaries’ Clientele: VANCOUVER, BC / ACCESSWIRE / January 12, 2017 /FIRST BITCOIN CAPITAL CORP. (OTC PINK: BITCF), a leading bitcoin and cryptocurrency developer, specializing in both blockchain and online merchant payment solutions for medical marijuana dispensaries and other high-risk merchant accounts and services, today announced the signing of an Exclusive Master Distributor Agreement to distribute a new type of fully automated check cashing ATM designed for use in medical cannabis dispensaries for the State of California. BITCF will add this check cashing ATM service to complete a full suite of financial services for the medical marijuana industry: merchant processing and POS solutions through its alliance network, a fully compliant, user friendly solution to accept Credit and Debit Cards through traditional Merchant Card Processing networks. The check cashing ATMs marketing efforts will be focused toward larger established medical marijuana dispensaries.
Fees for the check cashing services will be competitive. Dispensary customers using the service will be able to cash all types of checks: government issued checks, payroll checks and other types. Cannabis dispensaries service all kinds of customers. Many of those are unbanked and may need to cash checks before purchasing. Offering check cashing services on premises to this group of customers will be a very attractive way to increase revenues, as dispensary owners are looking for new ways to draw more customers because of check cashing convenience.
According to FDIC (Federal Deposit Insurance Corporation) recent 2015 National Survey of Unbanked and Underbanked Households, indicates that more than 7 percent of households in the United States were unbanked in 2015. This proportion represents approximately 9.0 million households. An additional 19.9 percent of U.S. households (24.5 million) were underbanked, meaning that the household had a checking or savings account but also obtained financial products and services outside of the banking system. By offering check cashing, our ATM Division expects that dispensaries will increase their customer base by 18%.
BITCF uses sophisticated fully automated risk analysis algorithms and underwriting procedures, resulting in 100% guarantee to the dispensary owners.
Summary of benefits of our services for the cannabis dispensaries and their customers:
Any types of checks can be cashed, including Payroll checks, Insurance checks, Personal checks, business checks, money orders, government issued checks and the funds can be credited to the Dispensaries bank account instead of their client pulling out and paying in cash.
Regulatory Compliance: The check cashing ATM will be installed pre-programmed to comply with all state, local federal regulations in California.
First Bitcoin is also developing a system that will enable dispensaries to accept Bitcoin and other cryptocurrencies as a form of legal payment. Stater of California has already enacted legislation that makes Bitcoin and similar digital currencies legal tender.
BITCF has developed specific programs to meet the unique needs of the medical cannabis industry. Offering merchant services at competitive rates for businesses operating legally under state law of California and Oregon, the company can now provide financial services not typically available from conventional banks.
While legalization of marijuana in many forms – and in many states – garnered over $5 billion dollars in 2016, the sums are expected to grow for 2017. More innovative and unique products are being created, and the stigma that once surrounded cannabis is slowly fading. These changes are helping the medical cannabis industry to prosper now that federal policies allow dispensaries to sell, grow, or possess cannabis while compliant with state laws. BITCF will only provide these services where federal policies allow our business model to proceed for dispensaries that are fully compliant with state and country laws, rules and regulations.
Should your dispensary be interested in these services please contact us by email:info@bitcoincapitalcorp.com
About the company:
First Bitcoin Capital is engaged in developing digital currencies, proprietary Blockchain technologies, financial processing services and the digital currency exchange-www.CoinQX.com.We see this step as a tremendous opportunity to create further shareholder value by leveraging management's experience in developing and managing complex Blockchain technologies, developing new types of digital assets. Being the first publicly-traded cryptocurrency and blockchain-centered company (with shares both traded in the US OTC Markets as [BITCF] and as [BIT] in crypto exchanges) we want to provide our shareholders with diversified exposure to digital and blockchain technologies. At this time the Company owns and operates the following digital assets.
www.CoinQX.comcryptocurrency exchange, registered with FINCEN.
www.iCoiNEWS.comreal time cryptocurrency and bitcoin news site.
www.BITminer.ccproviding mining pool management services.
www.2016coin.orgonline daily election coverage and home page for $PRES, $HILL, $GARY& $BURN -commemorative presidential election coins.
www.bitcannpay.comFinancial and merchant services for medical cannabis dispensaries.
Forward-Looking Statements
Certain statements contained in this press release may constitute "forward-looking statements." Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors as may be disclosed in company's filings. In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic conditions, and governmental and public policy changes. The forward-looking statements included in this press release represent the Company's views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of the press release. Such forward-looking statements are risks that are detailed in the Company's filings, which are on file atwww.OTCMarkets.com.
Contact us via:info@bitcoincapitalcorp.comor visithttp://www.bitcoincapitalcorp.com
SOURCE:First Bitcoin Capital Corp. || Why Small Businesses Should Consider Bitcoin: In 2015 bitcoin finally made its mark: More than 100,000 businesses , including industry giants like Microsoft, Overstock.com and Dell, accepted it. But, what exactly is this mysterious "cryptocurrency" everyone has been talking about for years? And, is it time your small business accepted it, too? Related: 5 Ways to Participate in the Bitcoin Revolution Here's what you need to know about what bitcoin is, its advantages and potential drawbacks. What is bitcoin? Bitcoin is a cryptocurrency or an entirely digital form of money, invented in 2009. While that might not sound interesting, what sets bitcoin apart is that it's purely person-to-person , with virtually no banks, financial institutions or government bodies standing in the way between you and your money. Bitcoin relies on a technology system called blockchain that keeps your bitcoin wallet safe and secure from fraud. The currency's digital format also makes for faster, cheaper, easier exchanges of cash, from which many small businesses may benefit. Overall, Bitcoin's assets stem from its decentralization. Blockchain, the technology bitcoin was built on, allows you to not have to rely on a bank to process your financial transactions. Here are other reasons to consider bitcoin: 1. No fees If your 2 to 3 percent merchant transaction fees are a drain on your cash flow, then bitcoin has you covered. Bitcoin transactions typically cost between 1 percent and zero. That's no typo. You can send or accept bitcoins as payments with no fees attached. Since bitcoin doesn't require a bank to verify each transaction, you don't have to sacrifice your own revenue to the financial institutions that own your business loans or credit cards . However, you'll often have the option to pay an extremely small transaction fee, which can speed up your processing. 2. No wait Maybe those fees aren't bothering you, but waiting around for your money to arrive in your bank account does. Because there's no centralized institution that checks every bitcoin transaction -- its underlying technology, blockchain, does it for you -- there's no need to wait nearly as long to receive your payment. Bitcoin transactions are processed quickly, usually in a fraction of the time credit card transactions do. Story continues You can charge a customer, go for a walk around the block and receive your money. Bitcoin is that fast . 3. No borders If you export your goods and services or purchase supplies or materials from abroad, then bitcoin is a great solution for dealing with foreign transaction fees, exchange rates or currencies. Why? Because bitcoin is a global currency, not tied to a single government or company , it ignores border restrictions. As long as your customers or suppliers accept bitcoin, you're good to go. 4. No payment disputes Even though bitcoin is digital, it works more like cash than credit. Bitcoin transactions are final and can't be contested by a customer on the basis that he or she, for example, didn't enjoy the service you provided. If you have trouble with customers disputing their credit card payments, then accepting bitcoin could help. 5. An investment opportunity Like other currencies, bitcoin fluctuates in value. However, it's generally less stable than the payments in cash, gold or other commodities you're used to. Related: The Strange Positive Effect Political Uncertainly Has on Bitcoin While this fluctuation can be a drawback to accepting bitcoin, as we'll discuss below, it can also have a large upside. You can look at bitcoin as an investment: By accepting bitcoins, then waiting to cash them in, you're taking a chance on their value increasing. Bitcoin makes investing in a currency seem much less absurd or boring. From 2011 to 2013, the value of a single bitcoin rose from $2 to $1,242. Although it has since fallen back to around $800 today, there's still much potential for growth. Challenges of accepting bitcoin It's always important to be aware of the potential dangers, as well. Here are the three largest obstacles to running a business with bitcoin. 1. It's unregulated. Although its decentralization is a plus, bitcoin's lack of government support may scare some away. The U.S. government recognizes bitcoin as a valid commodity and possibly even a positive influence on financial regulation, but some other countries have restricted or banned the use of bitcoin. 2. It's unstable. Although bitcoin has become increasingly more stable over time, even recently beating out gold , it's still fundamentally a currency that isn't overseen by a single financial institution. If the economy requires it, the Federal Reserve can raise or lower interest rates, but no such option exists with bitcoin. Some observers point to this "unstable" quality as a good thing, since the bitcoin market has no interference, but it could also make things difficult for your small business if that market suffers. You'll want to figure out your aversion to risk before investing big in bitcoin. 3. It's tough to plan for. With a decentralized, volatile, purely digital currency, it can be difficult to plan financial statements, figure out taxes and determine your prices . How can you make projections that account for large fluctuations or changing government regulations? This is not an easy task, although it is do-able. You'll definitely need to speak with your bookkeeper and accountant before accepting bitcoin at your small business. Related: Bitcoin Is Money, U.S. Judge Says in Case Tied to JPMorgan Hack Overall, there's a lot that bitcoin can help your small business with, but also plenty of question marks involved in accepting the currency. If you're considering accepting bitcoin, sit down and determine why it can help your business and how you will deal with the challenges it may bring. || Why Small Businesses Should Consider Bitcoin: In 2015 bitcoin finally made its mark: More than 100,000 businesses , including industry giants like Microsoft, Overstock.com and Dell, accepted it. But, what exactly is this mysterious "cryptocurrency" everyone has been talking about for years? And, is it time your small business accepted it, too? Related: 5 Ways to Participate in the Bitcoin Revolution Here's what you need to know about what bitcoin is, its advantages and potential drawbacks. What is bitcoin? Bitcoin is a cryptocurrency or an entirely digital form of money, invented in 2009. While that might not sound interesting, what sets bitcoin apart is that it's purely person-to-person , with virtually no banks, financial institutions or government bodies standing in the way between you and your money. Bitcoin relies on a technology system called blockchain that keeps your bitcoin wallet safe and secure from fraud. The currency's digital format also makes for faster, cheaper, easier exchanges of cash, from which many small businesses may benefit. Overall, Bitcoin's assets stem from its decentralization. Blockchain, the technology bitcoin was built on, allows you to not have to rely on a bank to process your financial transactions. Here are other reasons to consider bitcoin: 1. No fees If your 2 to 3 percent merchant transaction fees are a drain on your cash flow, then bitcoin has you covered. Bitcoin transactions typically cost between 1 percent and zero. That's no typo. You can send or accept bitcoins as payments with no fees attached. Since bitcoin doesn't require a bank to verify each transaction, you don't have to sacrifice your own revenue to the financial institutions that own your business loans or credit cards . However, you'll often have the option to pay an extremely small transaction fee, which can speed up your processing. 2. No wait Maybe those fees aren't bothering you, but waiting around for your money to arrive in your bank account does. Because there's no centralized institution that checks every bitcoin transaction -- its underlying technology, blockchain, does it for you -- there's no need to wait nearly as long to receive your payment. Bitcoin transactions are processed quickly, usually in a fraction of the time credit card transactions do. Story continues You can charge a customer, go for a walk around the block and receive your money. Bitcoin is that fast . 3. No borders If you export your goods and services or purchase supplies or materials from abroad, then bitcoin is a great solution for dealing with foreign transaction fees, exchange rates or currencies. Why? Because bitcoin is a global currency, not tied to a single government or company , it ignores border restrictions. As long as your customers or suppliers accept bitcoin, you're good to go. 4. No payment disputes Even though bitcoin is digital, it works more like cash than credit. Bitcoin transactions are final and can't be contested by a customer on the basis that he or she, for example, didn't enjoy the service you provided. If you have trouble with customers disputing their credit card payments, then accepting bitcoin could help. 5. An investment opportunity Like other currencies, bitcoin fluctuates in value. However, it's generally less stable than the payments in cash, gold or other commodities you're used to. Related: The Strange Positive Effect Political Uncertainly Has on Bitcoin While this fluctuation can be a drawback to accepting bitcoin, as we'll discuss below, it can also have a large upside. You can look at bitcoin as an investment: By accepting bitcoins, then waiting to cash them in, you're taking a chance on their value increasing. Bitcoin makes investing in a currency seem much less absurd or boring. From 2011 to 2013, the value of a single bitcoin rose from $2 to $1,242. Although it has since fallen back to around $800 today, there's still much potential for growth. Challenges of accepting bitcoin It's always important to be aware of the potential dangers, as well. Here are the three largest obstacles to running a business with bitcoin. 1. It's unregulated. Although its decentralization is a plus, bitcoin's lack of government support may scare some away. The U.S. government recognizes bitcoin as a valid commodity and possibly even a positive influence on financial regulation, but some other countries have restricted or banned the use of bitcoin. 2. It's unstable. Although bitcoin has become increasingly more stable over time, even recently beating out gold , it's still fundamentally a currency that isn't overseen by a single financial institution. If the economy requires it, the Federal Reserve can raise or lower interest rates, but no such option exists with bitcoin. Some observers point to this "unstable" quality as a good thing, since the bitcoin market has no interference, but it could also make things difficult for your small business if that market suffers. You'll want to figure out your aversion to risk before investing big in bitcoin. 3. It's tough to plan for. With a decentralized, volatile, purely digital currency, it can be difficult to plan financial statements, figure out taxes and determine your prices . How can you make projections that account for large fluctuations or changing government regulations? This is not an easy task, although it is do-able. You'll definitely need to speak with your bookkeeper and accountant before accepting bitcoin at your small business. Related: Bitcoin Is Money, U.S. Judge Says in Case Tied to JPMorgan Hack Overall, there's a lot that bitcoin can help your small business with, but also plenty of question marks involved in accepting the currency. If you're considering accepting bitcoin, sit down and determine why it can help your business and how you will deal with the challenges it may bring. || Why Small Businesses Should Consider Bitcoin: In 2015 bitcoin finally made its mark: More than 100,000 businesses , including industry giants like Microsoft, Overstock.com and Dell, accepted it. But, what exactly is this mysterious "cryptocurrency" everyone has been talking about for years? And, is it time your small business accepted it, too? Related: 5 Ways to Participate in the Bitcoin Revolution Here's what you need to know about what bitcoin is, its advantages and potential drawbacks. What is bitcoin? Bitcoin is a cryptocurrency or an entirely digital form of money, invented in 2009. While that might not sound interesting, what sets bitcoin apart is that it's purely person-to-person , with virtually no banks, financial institutions or government bodies standing in the way between you and your money. Bitcoin relies on a technology system called blockchain that keeps your bitcoin wallet safe and secure from fraud. The currency's digital format also makes for faster, cheaper, easier exchanges of cash, from which many small businesses may benefit. Overall, Bitcoin's assets stem from its decentralization. Blockchain, the technology bitcoin was built on, allows you to not have to rely on a bank to process your financial transactions. Here are other reasons to consider bitcoin: 1. No fees If your 2 to 3 percent merchant transaction fees are a drain on your cash flow, then bitcoin has you covered. Bitcoin transactions typically cost between 1 percent and zero. That's no typo. You can send or accept bitcoins as payments with no fees attached. Since bitcoin doesn't require a bank to verify each transaction, you don't have to sacrifice your own revenue to the financial institutions that own your business loans or credit cards . However, you'll often have the option to pay an extremely small transaction fee, which can speed up your processing. 2. No wait Maybe those fees aren't bothering you, but waiting around for your money to arrive in your bank account does. Because there's no centralized institution that checks every bitcoin transaction -- its underlying technology, blockchain, does it for you -- there's no need to wait nearly as long to receive your payment. Bitcoin transactions are processed quickly, usually in a fraction of the time credit card transactions do. Story continues You can charge a customer, go for a walk around the block and receive your money. Bitcoin is that fast . 3. No borders If you export your goods and services or purchase supplies or materials from abroad, then bitcoin is a great solution for dealing with foreign transaction fees, exchange rates or currencies. Why? Because bitcoin is a global currency, not tied to a single government or company , it ignores border restrictions. As long as your customers or suppliers accept bitcoin, you're good to go. 4. No payment disputes Even though bitcoin is digital, it works more like cash than credit. Bitcoin transactions are final and can't be contested by a customer on the basis that he or she, for example, didn't enjoy the service you provided. If you have trouble with customers disputing their credit card payments, then accepting bitcoin could help. 5. An investment opportunity Like other currencies, bitcoin fluctuates in value. However, it's generally less stable than the payments in cash, gold or other commodities you're used to. Related: The Strange Positive Effect Political Uncertainly Has on Bitcoin While this fluctuation can be a drawback to accepting bitcoin, as we'll discuss below, it can also have a large upside. You can look at bitcoin as an investment: By accepting bitcoins, then waiting to cash them in, you're taking a chance on their value increasing. Bitcoin makes investing in a currency seem much less absurd or boring. From 2011 to 2013, the value of a single bitcoin rose from $2 to $1,242. Although it has since fallen back to around $800 today, there's still much potential for growth. Challenges of accepting bitcoin It's always important to be aware of the potential dangers, as well. Here are the three largest obstacles to running a business with bitcoin. 1. It's unregulated. Although its decentralization is a plus, bitcoin's lack of government support may scare some away. The U.S. government recognizes bitcoin as a valid commodity and possibly even a positive influence on financial regulation, but some other countries have restricted or banned the use of bitcoin. 2. It's unstable. Although bitcoin has become increasingly more stable over time, even recently beating out gold , it's still fundamentally a currency that isn't overseen by a single financial institution. If the economy requires it, the Federal Reserve can raise or lower interest rates, but no such option exists with bitcoin. Some observers point to this "unstable" quality as a good thing, since the bitcoin market has no interference, but it could also make things difficult for your small business if that market suffers. You'll want to figure out your aversion to risk before investing big in bitcoin. 3. It's tough to plan for. With a decentralized, volatile, purely digital currency, it can be difficult to plan financial statements, figure out taxes and determine your prices . How can you make projections that account for large fluctuations or changing government regulations? This is not an easy task, although it is do-able. You'll definitely need to speak with your bookkeeper and accountant before accepting bitcoin at your small business. Related: Bitcoin Is Money, U.S. Judge Says in Case Tied to JPMorgan Hack Overall, there's a lot that bitcoin can help your small business with, but also plenty of question marks involved in accepting the currency. If you're considering accepting bitcoin, sit down and determine why it can help your business and how you will deal with the challenges it may bring. || Bitcoin is getting demolished: (Flickr / Bart Everson)
Bitcoin is getting demolished, trading down 15.1% at $768 a coin, a drop of $136 a coin, as of 1:05 p.m. ET on Wednesday.
The fall comes after China announced it had beguninvestigating bitcoin exchangesin Beijing and Shanghai on suspicion of market manipulation, money laundering, unauthorized financing, and other issues, Reuters reports.
Wednesday's selling comes following three days in which the cryptocurrency appeared to be stabilizing, holding in a range of $880 to $920, as traders digested the news that thePeople's Bank of Chinawarned investorsto exercise caution when investing in virtual currencies.
The cryptocurrency has had a wild start to 2017 after booking a 120% gain in 2016, when it was theworld's best performing currencyfor the second year in a row. Bitcoin rallied by more than 20% in the first three-plus trading days of 2017, crossing the $1,000 mark for the first time since November 2013 and coming within $46 of an all-time high.
But worries surrounding a crackdown on trading in China have punished bitcoin over the past four-plus sessions, erasing more than 30% of its value.
Bitcoin is now down more than 17% in 2017.
(Investing.com)
NOW WATCH:Watch Yellen explain why the Federal Reserve decided to raise rates
More From Business Insider
• We bought and sold bitcoin — here's how it works
• Bitcoin is trying to make a comeback
• Bitcoin is going bananas || Bitcoin is getting demolished: (Flickr / Bart Everson)
Bitcoin is getting demolished, trading down 15.1% at $768 a coin, a drop of $136 a coin, as of 1:05 p.m. ET on Wednesday.
The fall comes after China announced it had beguninvestigating bitcoin exchangesin Beijing and Shanghai on suspicion of market manipulation, money laundering, unauthorized financing, and other issues, Reuters reports.
Wednesday's selling comes following three days in which the cryptocurrency appeared to be stabilizing, holding in a range of $880 to $920, as traders digested the news that thePeople's Bank of Chinawarned investorsto exercise caution when investing in virtual currencies.
The cryptocurrency has had a wild start to 2017 after booking a 120% gain in 2016, when it was theworld's best performing currencyfor the second year in a row. Bitcoin rallied by more than 20% in the first three-plus trading days of 2017, crossing the $1,000 mark for the first time since November 2013 and coming within $46 of an all-time high.
But worries surrounding a crackdown on trading in China have punished bitcoin over the past four-plus sessions, erasing more than 30% of its value.
Bitcoin is now down more than 17% in 2017.
(Investing.com)
NOW WATCH:Watch Yellen explain why the Federal Reserve decided to raise rates
More From Business Insider
• We bought and sold bitcoin — here's how it works
• Bitcoin is trying to make a comeback
• Bitcoin is going bananas || Bitcoin is getting demolished: Wrecking Ball (Flickr / Bart Everson) Bitcoin is getting demolished, trading down 15.1% at $768 a coin, a drop of $136 a coin, as of 1:05 p.m. ET on Wednesday. The fall comes after China announced it had begun investigating bitcoin exchanges in Beijing and Shanghai on suspicion of market manipulation, money laundering, unauthorized financing, and other issues, Reuters reports. Wednesday's selling comes following three days in which the cryptocurrency appeared to be stabilizing, holding in a range of $880 to $920, as traders digested the news that the People's Bank of China warned investors to exercise caution when investing in virtual currencies. The cryptocurrency has had a wild start to 2017 after booking a 120% gain in 2016, when it was the world's best performing currency for the second year in a row. Bitcoin rallied by more than 20% in the first three-plus trading days of 2017, crossing the $1,000 mark for the first time since November 2013 and coming within $46 of an all-time high. But worries surrounding a crackdown on trading in China have punished bitcoin over the past four-plus sessions, erasing more than 30% of its value. Bitcoin is now down more than 17% in 2017. Bitcoin (Investing.com) NOW WATCH: Watch Yellen explain why the Federal Reserve decided to raise rates More From Business Insider We bought and sold bitcoin here's how it works Bitcoin is trying to make a comeback Bitcoin is going bananas || 6 ETF Trends Likely to Take Centre Stage in 2017: Donald Trump’s win as the U.S. President and the most sought-after OPEC output deal has actually set the tone of 2017 investing. Many are bullish on the prospect of oil price this year though rising U.S. supplies can anytime thwart the winning momentum in the oil patch. However, Trump-backed hopes are still in fine fettle.
Added to these, there are plenty of other events – across asset class and regions – that could prove to be game-changers this year. In view of this, we intend to highlight a few ETF trends that are likely to be prevalent in 2017:
Stocks to Be Bullish Overall
The year can be attributed to stocks. The first and foremost reason for it is an end to earnings recession. Earnings growth entered into the positive territory in Q3 of 2016 following five consecutive quarters of decline. For the upcoming Q4 earnings season, the S&P 500 is expected to score 3.3% earnings growth on 4.1% revenue growth.
Earnings for Q1 of 2017 are expected to surge 10.3% for the S&P 500 on 7.5% higher revenues, as per the Earnings Trends issued on January 4, 2017. The earnings growth trend is expected to stay firm even for Q2, Q3 and Q4 of this year with an expectation of 9.8%, 8.2% and 12.5% on revenue growth of 5.7%, 5.5% and 4.8% (read: Ten Predictions for the ETF Industry in 2017).
Along with earnings recovery, stabilization in the oil patch after a prolonged rout and a Trump-induced fiscal boost along with lower taxes should augur well for stocks this year. Still, withmarkets appearing overvalued by some measure and the President-elect Trump yet to roll out promised measures, cautious investors with a long-term notion can opt for value ETFs over growth. Investors should also note that a stronger U.S. dollar is likely to take some shine off the S&P 500 index as the components are heavily exposed to foreign currencies.
Investors should note thatSPDR S&P 500 Value ETFSPYV has a positive weighted alpha of 23.00 whileSPDR S&P 500 Growth ETFSPYG has it at positive 13.90. This indicates a higher growth potential in SPYV.
Currency-Hedged Foreign ETFs to Rule
The U.S. dollar is presently at a multi-year high on bets over faster Fed policy tightening and an improving U.S. economy. On the other hand, foreign economies are also gaining momentum. Business and consumer sentiments in the European Union are at about six-year highs. Business conditions in the Japanese economy are also improving.
An upside is more likely for European and Japanese stocks given the ultra-easy monetary policy over there, which will keep their currencies low against a soaring greenback and boost those economies.
As a result, currency-hedged ETFs likeWisdomTree Japan Hedged SmallCap Equity ETFDXJS,WisdomTree Japan Hedged Quality Dividend Growth ETFJHDG andO'Shares FTSE Europe Quality Dividend Hedged ETFOEUH will likely rule the year ahead.
More Factor-Based ETFs to Come On Line
Factor-based products have been quite a trend in 2016 as the fashion for plain vanilla ETFs is gone. Issuers are coming up with a more striking investment objective which can create a winning combination in the present investing environment. All in all, smart beta and multifactor ETFs will likely carry forward the legacy of the ETF world. An example of recently launched factor-based ETFs isALPS Dorsey Wright Sector Momentum ETFSWIN (read: 6 ETF Ideas Most Favored by Issuers in 2016).
More Players to Enter ETF Industry
Be it big banking giants or hedge fund managers, players are increasingly entering the ETF industry. We have already have seen J.P. Morgan and Goldman venturing into the ETF world and now Wells Fargo is also eyeing the space with its first-ever multi-factor ETF. Saba Capital Management, a New York-based hedge fund manager, is also planning to foray into the ETF space with an ETF related to closed-end funds.
Expense Ratio Cut
With rising competition among issuers for market share, expense ratios are increasingly being slashed. So long, Charles Schwab and Vanguard ruled the world of low-cost ETFs. But last year, BlackRock and Fidelity enacted steep fee cuts for several of their products. A new set of rules under the Department of Labor’s “fiduciary standard,” which asked advisors to give precedence to their client’s interest over their own also played a role in this burgeoning trend.
For example, BlackRock lowered fees for its S&P 500 tracking ETF,iShares Core S&P 500IVV, from 0.07% to 0.04%. The fee cut made IVV less expensive than other popular ETFs in its domain. Even a relatively new-comer like Hartford Funds, which launched Lattice Strategies and its ETF operations earlier in 2016, announced that it will lower the expense ratio on four of its smart-beta funds effective January 1 (read: Buy These ETFs as BlackRock Cuts Fees).
Bitcoin ETF to Hit the Market?
Even if we are yet to have a bitcoin ETF, one is expected to hit the market in 2017. Winklevoss Bitcoin Trust has filed for one to make it easy for investors to bet on this soaring digital currency. As per CNBC, “bitcoin is a very volatile asset” but doesn’t have a strong correlation with other classes. Bitcoin’s value beat the $900 mark in late December for the first time since February 2014 (Also read: Explaining Bitcoin and Crypto Currency).
India's demonetization also gave a boost to bitcoin trading volumes. Moreover, trading volumes in China have been solid with the government taking proactive measures against illegal money transfer. With this, investors expect to see an approval of the first bitcoin ETF in 2017.
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Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportSPDR-SP5 VL (SPYV): ETF Research ReportsISHARS-SP500 (IVV): ETF Research ReportsWISDMTR-JP HSCF (DXJS): ETF Research ReportsOS-FT EUR QDH (OEUH): ETF Research ReportsWISTR-JP HQD (JHDG): ETF Research ReportsSPDR-SP5 GR (SPYG): ETF Research ReportsTo read this article on Zacks.com click here.Zacks Investment ResearchWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report || 6 ETF Trends Likely to Take Centre Stage in 2017: Donald Trump’s win as the U.S. President and the most sought-after OPEC output deal has actually set the tone of 2017 investing. Many are bullish on the prospect of oil price this year though rising U.S. supplies can anytime thwart the winning momentum in the oil patch. However, Trump-backed hopes are still in fine fettle. Added to these, there are plenty of other events – across asset class and regions – that could prove to be game-changers this year. In view of this, we intend to highlight a few ETF trends that are likely to be prevalent in 2017: Stocks to Be Bullish Overall The year can be attributed to stocks. The first and foremost reason for it is an end to earnings recession. Earnings growth entered into the positive territory in Q3 of 2016 following five consecutive quarters of decline. For the upcoming Q4 earnings season, the S&P 500 is expected to score 3.3% earnings growth on 4.1% revenue growth. Earnings for Q1 of 2017 are expected to surge 10.3% for the S&P 500 on 7.5% higher revenues, as per the Earnings Trends issued on January 4, 2017. The earnings growth trend is expected to stay firm even for Q2, Q3 and Q4 of this year with an expectation of 9.8%, 8.2% and 12.5% on revenue growth of 5.7%, 5.5% and 4.8% (read: Ten Predictions for the ETF Industry in 2017). Along with earnings recovery, stabilization in the oil patch after a prolonged rout and a Trump-induced fiscal boost along with lower taxes should augur well for stocks this year. Still, withmarkets appearing overvalued by some measure and the President-elect Trump yet to roll out promised measures, cautious investors with a long-term notion can opt for value ETFs over growth. Investors should also note that a stronger U.S. dollar is likely to take some shine off the S&P 500 index as the components are heavily exposed to foreign currencies. Investors should note that SPDR S&P 500 Value ETF SPYV has a positive weighted alpha of 23.00 while SPDR S&P 500 Growth ETF SPYG has it at positive 13.90. This indicates a higher growth potential in SPYV. Story continues Currency-Hedged Foreign ETFs to Rule The U.S. dollar is presently at a multi-year high on bets over faster Fed policy tightening and an improving U.S. economy. On the other hand, foreign economies are also gaining momentum. Business and consumer sentiments in the European Union are at about six-year highs. Business conditions in the Japanese economy are also improving. An upside is more likely for European and Japanese stocks given the ultra-easy monetary policy over there, which will keep their currencies low against a soaring greenback and boost those economies. As a result, currency-hedged ETFs like WisdomTree Japan Hedged SmallCap Equity ETF DXJS, WisdomTree Japan Hedged Quality Dividend Growth ETF JHDG and O'Shares FTSE Europe Quality Dividend Hedged ETF OEUH will likely rule the year ahead. More Factor-Based ETFs to Come On Line Factor-based products have been quite a trend in 2016 as the fashion for plain vanilla ETFs is gone. Issuers are coming up with a more striking investment objective which can create a winning combination in the present investing environment. All in all, smart beta and multifactor ETFs will likely carry forward the legacy of the ETF world. An example of recently launched factor-based ETFs is ALPS Dorsey Wright Sector Momentum ETF SWIN (read: 6 ETF Ideas Most Favored by Issuers in 2016). More Players to Enter ETF Industry Be it big banking giants or hedge fund managers, players are increasingly entering the ETF industry. We have already have seen J.P. Morgan and Goldman venturing into the ETF world and now Wells Fargo is also eyeing the space with its first-ever multi-factor ETF. Saba Capital Management, a New York-based hedge fund manager, is also planning to foray into the ETF space with an ETF related to closed-end funds. Expense Ratio Cut With rising competition among issuers for market share, expense ratios are increasingly being slashed. So long, Charles Schwab and Vanguard ruled the world of low-cost ETFs. But last year, BlackRock and Fidelity enacted steep fee cuts for several of their products. A new set of rules under the Department of Labor’s “fiduciary standard,” which asked advisors to give precedence to their client’s interest over their own also played a role in this burgeoning trend. For example, BlackRock lowered fees for its S&P 500 tracking ETF, iShares Core S&P 500 IVV, from 0.07% to 0.04%. The fee cut made IVV less expensive than other popular ETFs in its domain. Even a relatively new-comer like Hartford Funds, which launched Lattice Strategies and its ETF operations earlier in 2016, announced that it will lower the expense ratio on four of its smart-beta funds effective January 1 (read: Buy These ETFs as BlackRock Cuts Fees). Bitcoin ETF to Hit the Market? Even if we are yet to have a bitcoin ETF, one is expected to hit the market in 2017. Winklevoss Bitcoin Trust has filed for one to make it easy for investors to bet on this soaring digital currency. As per CNBC, “bitcoin is a very volatile asset” but doesn’t have a strong correlation with other classes. Bitcoin’s value beat the $900 mark in late December for the first time since February 2014 (Also read: Explaining Bitcoin and Crypto Currency). India's demonetization also gave a boost to bitcoin trading volumes. Moreover, trading volumes in China have been solid with the government taking proactive measures against illegal money transfer. With this, investors expect to see an approval of the first bitcoin ETF in 2017. Want key ETF info delivered straight to your inbox? Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week. Get it free >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report SPDR-SP5 VL (SPYV): ETF Research Reports ISHARS-SP500 (IVV): ETF Research Reports WISDMTR-JP HSCF (DXJS): ETF Research Reports OS-FT EUR QDH (OEUH): ETF Research Reports WISTR-JP HQD (JHDG): ETF Research Reports SPDR-SP5 GR (SPYG): ETF Research Reports To read this article on Zacks.com click here. Zacks Investment Research Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report || Bitcoin slides as China's central bank launches checks on exchanges: By John Ruwitch and Jemima Kelly
SHANGHAI/LONDON (Reuters) - China's central bank launched spot checks on leading bitcoin exchanges in Beijing and Shanghai, ratcheting up pressure on potential capital outflows and knocking the price of the cryptocurrency down more than 12 percent against the dollar.
The People's Bank of China (PBOC) said its probe of bitcoin exchanges BTCC, Huobi and OKCoin was to look into a range of possible rule violations, including market manipulation, money laundering and unauthorized financing. It did not say if any violations had been found.
Chinese authorities have stepped up efforts to stem capital outflows and relieve pressure on the yuan.
While the yuan lost more than 6.5 percent against the dollar last year, its worst performance since 1994, the bitcoin price has soared to near-record highs.
That, and the relative anonymity the digital currency affords, has prompted some to believe bitcoin has become an attractive option for tech-savvy Chinese to hedge against the yuan and skirt around rules limiting how much foreign exchange individuals can buy each year.
The PBOC in Beijing, where officers visited the offices of OKCoin and Huobi on Wednesday, said in a statement that "spot checks were focused on how the exchanges implement policies including forex management and anti-money laundering".
Separately in Shanghai, the PBOC said it visited BTCC, noting its checks "focused on whether the firm was operating out of its business scope, whether it was launching unauthorized financing, payment, forex business or other related businesses, whether it was involved in market manipulation, anti-money laundering or (carried) fund security risks."
On the Europe-based Bitstamp exchange, the price of bitcoin (BTC=BTSP) fell as much as 12.5 percent to a 3-week low of $800.
On China's Huobi exchange, the price slid more than 16 percent to 5,313 yuan (CNY=CFXS), equivalent to around $766, putting the yuan/bitcoin rate at a discount to the rate on dollar-based exchanges.
Normally, bitcoin trades at a premium in China, with a lack of trading fees encouraging volumes and boosting demand.
"Selling is being driven by China. The fear is that ... this investigation could lead to, worse-case scenario, funds being withheld from them (Chinese investors) or one of the exchanges being found to have acted improperly," said Charles Hayter, CEO of digital currency analytics firm Cryptocompare.
"This is a ratcheting up of the rhetoric from the Chinese authorities - instead of 'we're watching' you, it's now 'we're investigating' you," he said.
According to his analysis, Hayter says trading between the yuan and bitcoin accounted for around 98 percent of the total market in the past six months.
"The long term implications of this are positive as more rigor in the Chinese market only matures and brings respectability to the industry - but in the short term this could effect volumes which have been one of the key drivers of the recent rally," Hayter added.
"FRUITFUL MEETING"
Bobby Lee, CEO of Shanghai-based BTCC, confirmed the PBOC visit, but said he believed the company was not out of line.
"We're definitely vigilant. We think we are in compliance with all the current rules and regulations of running a bitcoin exchange in China," he told Reuters by phone.
"I wouldn't call it an investigation. I think they are working closely with us to learn more about our business model and the bitcoin exchange industry. We had a very fruitful meeting today," Lee said.
A Huobi executive, who declined to be named, confirmed the PBOC visited its office on Wednesday, but declined to provide details. A spokeswoman for OKCoin told Reuters its platform was operating normally, and the exchange was working with the authorities.
Last week, PBOC officials met with the three exchanges, and the central bank publicly urged investors to take a rational and cautious approach to investing in bitcoin.
(Additional reporting by Winni Zhou, Brenda Goh and Samuel Shen; Editing by Ian Geoghegan) || Bitcoin slides as China's central bank launches checks on exchanges: By John Ruwitch and Jemima Kelly SHANGHAI/LONDON (Reuters) - China's central bank launched spot checks on leading bitcoin exchanges in Beijing and Shanghai, ratcheting up pressure on potential capital outflows and knocking the price of the cryptocurrency down more than 12 percent against the dollar. The People's Bank of China (PBOC) said its probe of bitcoin exchanges BTCC, Huobi and OKCoin was to look into a range of possible rule violations, including market manipulation, money laundering and unauthorized financing. It did not say if any violations had been found. Chinese authorities have stepped up efforts to stem capital outflows and relieve pressure on the yuan. While the yuan lost more than 6.5 percent against the dollar last year, its worst performance since 1994, the bitcoin price has soared to near-record highs. That, and the relative anonymity the digital currency affords, has prompted some to believe bitcoin has become an attractive option for tech-savvy Chinese to hedge against the yuan and skirt around rules limiting how much foreign exchange individuals can buy each year. The PBOC in Beijing, where officers visited the offices of OKCoin and Huobi on Wednesday, said in a statement that "spot checks were focused on how the exchanges implement policies including forex management and anti-money laundering". Separately in Shanghai, the PBOC said it visited BTCC, noting its checks "focused on whether the firm was operating out of its business scope, whether it was launching unauthorized financing, payment, forex business or other related businesses, whether it was involved in market manipulation, anti-money laundering or (carried) fund security risks." On the Europe-based Bitstamp exchange, the price of bitcoin (BTC=BTSP) fell as much as 12.5 percent to a 3-week low of $800. On China's Huobi exchange, the price slid more than 16 percent to 5,313 yuan (CNY=CFXS), equivalent to around $766, putting the yuan/bitcoin rate at a discount to the rate on dollar-based exchanges. Story continues Normally, bitcoin trades at a premium in China, with a lack of trading fees encouraging volumes and boosting demand. "Selling is being driven by China. The fear is that ... this investigation could lead to, worse-case scenario, funds being withheld from them (Chinese investors) or one of the exchanges being found to have acted improperly," said Charles Hayter, CEO of digital currency analytics firm Cryptocompare. "This is a ratcheting up of the rhetoric from the Chinese authorities - instead of 'we're watching' you, it's now 'we're investigating' you," he said. According to his analysis, Hayter says trading between the yuan and bitcoin accounted for around 98 percent of the total market in the past six months. "The long term implications of this are positive as more rigor in the Chinese market only matures and brings respectability to the industry - but in the short term this could effect volumes which have been one of the key drivers of the recent rally," Hayter added. "FRUITFUL MEETING" Bobby Lee, CEO of Shanghai-based BTCC, confirmed the PBOC visit, but said he believed the company was not out of line. "We're definitely vigilant. We think we are in compliance with all the current rules and regulations of running a bitcoin exchange in China," he told Reuters by phone. "I wouldn't call it an investigation. I think they are working closely with us to learn more about our business model and the bitcoin exchange industry. We had a very fruitful meeting today," Lee said. A Huobi executive, who declined to be named, confirmed the PBOC visited its office on Wednesday, but declined to provide details. A spokeswoman for OKCoin told Reuters its platform was operating normally, and the exchange was working with the authorities. Last week, PBOC officials met with the three exchanges, and the central bank publicly urged investors to take a rational and cautious approach to investing in bitcoin. (Additional reporting by Winni Zhou, Brenda Goh and Samuel Shen; Editing by Ian Geoghegan) || Bitcoin slides as China's central bank launches checks on exchanges: By John Ruwitch and Jemima Kelly
SHANGHAI/LONDON (Reuters) - China's central bank launched spot checks on leading bitcoin exchanges in Beijing and Shanghai, ratcheting up pressure on potential capital outflows and knocking the price of the cryptocurrency down more than 12 percent against the dollar.
The People's Bank of China (PBOC) said its probe of bitcoin exchanges BTCC, Huobi and OKCoin was to look into a range of possible rule violations, including market manipulation, money laundering and unauthorized financing. It did not say if any violations had been found.
Chinese authorities have stepped up efforts to stem capital outflows and relieve pressure on the yuan.
While the yuan lost more than 6.5 percent against the dollar last year, its worst performance since 1994, the bitcoin price has soared to near-record highs.
That, and the relative anonymity the digital currency affords, has prompted some to believe bitcoin has become an attractive option for tech-savvy Chinese to hedge against the yuan and skirt around rules limiting how much foreign exchange individuals can buy each year.
The PBOC in Beijing, where officers visited the offices of OKCoin and Huobi on Wednesday, said in a statement that "spot checks were focused on how the exchanges implement policies including forex management and anti-money laundering".
Separately in Shanghai, the PBOC said it visited BTCC, noting its checks "focused on whether the firm was operating out of its business scope, whether it was launching unauthorized financing, payment, forex business or other related businesses, whether it was involved in market manipulation, anti-money laundering or (carried) fund security risks."
On the Europe-based Bitstamp exchange, the price of bitcoin (BTC=BTSP) fell as much as 12.5 percent to a 3-week low of $800.
On China's Huobi exchange, the price slid more than 16 percent to 5,313 yuan (CNY=CFXS), equivalent to around $766, putting the yuan/bitcoin rate at a discount to the rate on dollar-based exchanges.
Normally, bitcoin trades at a premium in China, with a lack of trading fees encouraging volumes and boosting demand.
"Selling is being driven by China. The fear is that ... this investigation could lead to, worse-case scenario, funds being withheld from them (Chinese investors) or one of the exchanges being found to have acted improperly," said Charles Hayter, CEO of digital currency analytics firm Cryptocompare.
"This is a ratcheting up of the rhetoric from the Chinese authorities - instead of 'we're watching' you, it's now 'we're investigating' you," he said.
According to his analysis, Hayter says trading between the yuan and bitcoin accounted for around 98 percent of the total market in the past six months.
"The long term implications of this are positive as more rigor in the Chinese market only matures and brings respectability to the industry - but in the short term this could effect volumes which have been one of the key drivers of the recent rally," Hayter added.
"FRUITFUL MEETING"
Bobby Lee, CEO of Shanghai-based BTCC, confirmed the PBOC visit, but said he believed the company was not out of line.
"We're definitely vigilant. We think we are in compliance with all the current rules and regulations of running a bitcoin exchange in China," he told Reuters by phone.
"I wouldn't call it an investigation. I think they are working closely with us to learn more about our business model and the bitcoin exchange industry. We had a very fruitful meeting today," Lee said.
A Huobi executive, who declined to be named, confirmed the PBOC visited its office on Wednesday, but declined to provide details. A spokeswoman for OKCoin told Reuters its platform was operating normally, and the exchange was working with the authorities.
Last week, PBOC officials met with the three exchanges, and the central bank publicly urged investors to take a rational and cautious approach to investing in bitcoin.
(Additional reporting by Winni Zhou, Brenda Goh and Samuel Shen; Editing by Ian Geoghegan)
[Social Media Buzz]
#Bitcoin last trade
@bitfinex $789.60
@btcecom $784.00
Set #crypto #price #alerts at http://AlertCo.in || Prix Actuel du #Bitcoin est $820.00 via @Chainpic.twitter.com/pAOQYNBjbR || #Bitcoin
Ultima: R$ 2816.83 Alta: R$ 2920.00 Baixa: R$ 2660.03
Fonte: Foxbit || 1 KOBO = 0.00000318 BTC
= 0.0025 USD
= 0.7850 NGN
= 0.0338 ZAR
= 0.2591 KES
#Kobocoin 2017-01-13 10:00 || #bitcoin #miner Bitmain Antminer S7 - ~9.7TH - With 110v Power Supplies - Mine BTC $530.00 http://ift.tt/2jNl27x pic.tw...
|
818.41, 821.80, 831.53, 907.94, 886.62, 899.07, 895.03, 921.79, 924.67, 921.01
|
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 226.68, 235.35, 232.57, 230.39, 228.17, 210.49, 221.61, 225.83, 224.77, 231.40, 229.78, 228.76, 230.06, 228.12, 229.28, 227.18, 230.30, 235.02, 239.84, 239.85, 243.61, 238.17, 238.48, 240.11, 235.23, 230.51, 230.64, 230.30, 229.09, 229.81, 232.98, 231.49, 231.21, 227.09, 230.62, 230.28, 234.53, 235.14, 234.34, 232.76, 239.14, 236.69, 236.06, 237.55, 237.29, 238.73, 238.26, 240.38, 246.06, 242.97, 242.30, 243.93, 244.94, 247.05, 245.31, 249.51, 251.99, 254.32, 262.87, 270.64, 261.64, 263.44, 269.46, 266.27, 274.02, 276.50, 281.65, 283.68, 285.30, 293.79, 304.62, 313.86, 328.02, 314.17, 325.43, 361.19, 403.42, 411.56, 386.35, 374.47, 386.48, 373.37, 380.26, 336.82, 311.08, 338.15, 336.75, 332.91, 320.17, 330.75.
|
[Bitcoin Technical Analysis for 2015-11-16]
Volume: 47980100, RSI (14-day): 50.91, 50-day EMA: 305.96, 200-day EMA: 270.36
[Wider Market Context]
Gold Price: 1083.70, Gold RSI: 28.30
Oil Price: 41.74, Oil RSI: 38.38
[Recent News (last 7 days)]
Hired-gun hacking played key role in JPMorgan, Fidelity breaches: By Jim Finkle and Joseph Menn
NEW YORK/SAN FRANCISCO (Reuters) - When U.S. prosecutors this week charged two Israelis and an American fugitive with raking in hundreds of millions of dollars in one of the largest and most complex cases of cyber fraud ever exposed, they also provided an unusual look into the burgeoning industry of criminal hackers for hire.
The trio, who are accused of orchestrating massive computer breaches at JPMorgan Chase & Co (JPM.N) and other financial firms, as well as a series of other major offences, did little if any hacking themselves, the federal indictments and a previous civil case brought by the U.S. Securities and Exchange Commission indicate.
Rather, they constructed a criminal conglomerate with activities ranging from pump-and-dump stock fraud to Internet casino break-ins and unlicensed Bitcoin trading. And just like many legitimate corporations, they outsourced much of their technology needs.
"They clearly had to recruit co-conspirators and have that type of hacker-for-hire," said Austin Berglas, former assistant special agent in charge of the FBI's New York cyber division, who worked the JPMorgan case before he left the agency in May. "This is the first case where it's that clear of a connection." Berglas, who now heads cyber investigations for private firm K2 Intelligence, said additional major cases of freelance hacking will come to light, especially as more people become familiar with online tools such as Tor that seek to conceal a user’s identity and location.
RENTED TIME
This week's indictments accused a hacker referred to as "co-conspirator 1" of installing malicious software on the servers of multiple victims at the direction of Gery Shalon, the alleged mastermind of the scheme now under arrest in Israel. A second indictment charges a man referred to as John Doe, believed to be in Russia, for an attack on online trading firm E*Trade (ETFC.O).
Officials have not said if the co-conspirator and John Doe were the same person, or even if the FBI knows their true identities.
Law enforcement and computer security officials say that outsourced cyber-crime services - including rented time on networks of previously compromised personal computers and custom break-ins - are most readily found on underground Russian-language computer forums, where skilled attackers advertise their services.
The forums are tight-knit communities where newbies must be vouched for by multiple known members and pay membership fees that cost thousands of dollars, said Daniel Cohen, who oversees an undercover team at EMC Corp's (EMC.N) RSA Security that monitors the forums.
“You can find anything you want for an operation. Hackers, servers, software, code writing. They are all available," said Cohen. Individuals hide their identities even from each other, making infiltration and arrests rare.
In this case, the ringleaders are accused of hiring hackers to steal contact information and other data that they then used to help convince ordinary investors to buy little-regulated stocks. Prosecutors have not disclosed how the hackers were compensated.
Fees vary greatly in the cyber underground, depending on the complexity of the assignment and supply of talent available to do a particular job. Elite hackers who pull off the most technically challenging attacks might get a percentage of profits, while others might earn an hourly rate or get paid a few thousand dollars for winning access to a target’s network, researchers said.PUMP-AND-DUMP
All three of those accused this week - Shalon, Joshua Samuel Aaron, who is at large, and Ziv Orenstein, who is also in jail in Israel – began promoting penny stocks before the hacks took place, according to U.S. government claims.
They used websites including Pennystockdiscoveries.com and Stockcastle.com to send emails as part of a scheme in which they invested in penny stocks, spread false information to boost their prices, and then sold them to make windfall profits, according to an SEC suit filed in July.
Orenstein’s lawyer declined to comment, and Shalon’s lawyer did not return messages seeking comment.
In one case in early 2012, the SEC claims that they used the website Stockcastle.com to promote shares in Mustang Alliances Inc, reaping $2.2 million, the largest pump-and-dump cited in the regulator's lawsuit. In March of that year, the British Virgin Islands Financial Services Commission issued an alert warning that two entities tied to Stockcastle were falsely claiming to be registered in the territory. That same year, the enterprise began a massive hacking spree to get contact information for investors who might be good targets, according to prosecutors. By the end of 2013 they had ordered up six hacks that provided data on tens of millions of customers, prosecutors said.
They hit the mother lode in 2014 when they attacked three other firms, and stole data on 83 million customers from JP Morgan alone, prosecutors said.
In addition to JP Morgan and E*Trade, the firms attacked included the mutual fund giant Fidelity Investments, Scottrade, TD Ameritrade Holding Corp (AMTD.N) and News Corp's (NWSA.O) Dow Jones unit, the publisher of the Wall Street Journal, according to court documents and people familiar with the cases.
"To do a 'pump-and-dump' operation, you no longer need 30 people behind phones in a strip mall," said Shane Shook, a security consultant specializing in investigating financial breaches. All you need is to find a hacker on a “Dark Web” forum to provide addresses from customers of financial services firms like Fidelity or JPMorgan, then hire a spam service to push out promotional emails, he said.
Shalon bragged about the stock manipulation scheme, telling the hacker known as co-conspirator 1 in a web chat message that it was "a small step towards a large empire," according to the indictment.
His plan, Shalon told the hacker, was to distribute "mailers" on stocks to those customers. The hacker asked if buying stocks was popular in America, the indictment said, prompting Shalon to reply: "It's like drinking freaking vodka in Russia."
Shalon ultimately made good on his promise to build an empire, according to the indictments. Profits from the pump-and-dump fed into a sprawling conglomerate including offshore Internet casinos and payment-processing services for other criminal operators, such as counterfeit pharmaceutical makers. Shalon also allegedly directed hackers to attack rival casinos, stealing customer data and temporarily bringing down their websites with denial-of-service attacks, which are easily commissioned online.BUTTERFLY AND HIDDEN LYNX
While this week's indictments opened the first major criminal case involving outsourced hacking, there have been other substantial break-ins that researchers believe were contract jobs.
Researchers at Symantec in July attributed a series of precision breaches at Apple, Facebook, Microsoft and Twitter in 2012 and 2013 to a sophisticated gang called Butterfly, which also attacked law firms and pharmaceutical companies.
Computer security firm Symantec concluded that the group likely works for hire, either for a client looking for financial gain in the stock market or for competitors. How Butterfly gets hired remains unclear.
Tech criminologist Marc Goodman, author of the book “Future Crimes”, says another group, dubbed Hidden Lynx by Symantec, may consist of contractors moonlighting from jobs with the Chinese military.http://www.symantec.com/content/en/us/enterprise/media/security_response/whitepapers/hidden_lynx.pdf"It's crime as a service," "Goodman said. "They take all the pain out of it."
(Reporting by Joseph Menn in San Francisco and Jim Finkle and Nate Raymond in New York; Additional reporting from Maayan Lubell in Jerusalem; Editing by Jonathan Weber and Martin Howell.) || Hired-gun hacking played key role in JPMorgan, Fidelity breaches: By Jim Finkle and Joseph Menn
NEW YORK/SAN FRANCISCO (Reuters) - When U.S. prosecutors this week charged two Israelis and an American fugitive with raking in hundreds of millions of dollars in one of the largest and most complex cases of cyber fraud ever exposed, they also provided an unusual look into the burgeoning industry of criminal hackers for hire.
The trio, who are accused of orchestrating massive computer breaches at JPMorgan Chase & Co <JPM.N> and other financial firms, as well as a series of other major offences, did little if any hacking themselves, the federal indictments and a previous civil case brought by the U.S. Securities and Exchange Commission indicate.
Rather, they constructed a criminal conglomerate with activities ranging from pump-and-dump stock fraud to Internet casino break-ins and unlicensed Bitcoin trading. And just like many legitimate corporations, they outsourced much of their technology needs.
"They clearly had to recruit co-conspirators and have that type of hacker-for-hire," said Austin Berglas, former assistant special agent in charge of the FBI's New York cyber division, who worked the JPMorgan case before he left the agency in May. "This is the first case where it's that clear of a connection." Berglas, who now heads cyber investigations for private firm K2 Intelligence, said additional major cases of freelance hacking will come to light, especially as more people become familiar with online tools such as Tor that seek to conceal a user’s identity and location.
RENTED TIME
This week's indictments accused a hacker referred to as "co-conspirator 1" of installing malicious software on the servers of multiple victims at the direction of Gery Shalon, the alleged mastermind of the scheme now under arrest in Israel. A second indictment charges a man referred to as John Doe, believed to be in Russia, for an attack on online trading firm E*Trade <ETFC.O>.
Officials have not said if the co-conspirator and John Doe were the same person, or even if the FBI knows their true identities.
Law enforcement and computer security officials say that outsourced cyber-crime services - including rented time on networks of previously compromised personal computers and custom break-ins - are most readily found on underground Russian-language computer forums, where skilled attackers advertise their services.
The forums are tight-knit communities where newbies must be vouched for by multiple known members and pay membership fees that cost thousands of dollars, said Daniel Cohen, who oversees an undercover team at EMC Corp's <EMC.N> RSA Security that monitors the forums.
“You can find anything you want for an operation. Hackers, servers, software, code writing. They are all available," said Cohen. Individuals hide their identities even from each other, making infiltration and arrests rare.
In this case, the ringleaders are accused of hiring hackers to steal contact information and other data that they then used to help convince ordinary investors to buy little-regulated stocks. Prosecutors have not disclosed how the hackers were compensated.
Fees vary greatly in the cyber underground, depending on the complexity of the assignment and supply of talent available to do a particular job. Elite hackers who pull off the most technically challenging attacks might get a percentage of profits, while others might earn an hourly rate or get paid a few thousand dollars for winning access to a target’s network, researchers said.PUMP-AND-DUMP
All three of those accused this week - Shalon, Joshua Samuel Aaron, who is at large, and Ziv Orenstein, who is also in jail in Israel – began promoting penny stocks before the hacks took place, according to U.S. government claims.
They used websites including Pennystockdiscoveries.com and Stockcastle.com to send emails as part of a scheme in which they invested in penny stocks, spread false information to boost their prices, and then sold them to make windfall profits, according to an SEC suit filed in July.
Orenstein’s lawyer declined to comment, and Shalon’s lawyer did not return messages seeking comment.
In one case in early 2012, the SEC claims that they used the website Stockcastle.com to promote shares in Mustang Alliances Inc, reaping $2.2 million, the largest pump-and-dump cited in the regulator's lawsuit. In March of that year, the British Virgin Islands Financial Services Commission issued an alert warning that two entities tied to Stockcastle were falsely claiming to be registered in the territory. That same year, the enterprise began a massive hacking spree to get contact information for investors who might be good targets, according to prosecutors. By the end of 2013 they had ordered up six hacks that provided data on tens of millions of customers, prosecutors said.
They hit the mother lode in 2014 when they attacked three other firms, and stole data on 83 million customers from JP Morgan alone, prosecutors said.
In addition to JP Morgan and E*Trade, the firms attacked included the mutual fund giant Fidelity Investments, Scottrade, TD Ameritrade Holding Corp <AMTD.N> and News Corp's <NWSA.O> Dow Jones unit, the publisher of the Wall Street Journal, according to court documents and people familiar with the cases.
"To do a 'pump-and-dump' operation, you no longer need 30 people behind phones in a strip mall," said Shane Shook, a security consultant specializing in investigating financial breaches. All you need is to find a hacker on a “Dark Web” forum to provide addresses from customers of financial services firms like Fidelity or JPMorgan, then hire a spam service to push out promotional emails, he said.
Shalon bragged about the stock manipulation scheme, telling the hacker known as co-conspirator 1 in a web chat message that it was "a small step towards a large empire," according to the indictment.
His plan, Shalon told the hacker, was to distribute "mailers" on stocks to those customers. The hacker asked if buying stocks was popular in America, the indictment said, prompting Shalon to reply: "It's like drinking freaking vodka in Russia."
Shalon ultimately made good on his promise to build an empire, according to the indictments. Profits from the pump-and-dump fed into a sprawling conglomerate including offshore Internet casinos and payment-processing services for other criminal operators, such as counterfeit pharmaceutical makers. Shalon also allegedly directed hackers to attack rival casinos, stealing customer data and temporarily bringing down their websites with denial-of-service attacks, which are easily commissioned online.BUTTERFLY AND HIDDEN LYNX
While this week's indictments opened the first major criminal case involving outsourced hacking, there have been other substantial break-ins that researchers believe were contract jobs.
Researchers at Symantec in July attributed a series of precision breaches at Apple, Facebook, Microsoft and Twitter in 2012 and 2013 to a sophisticated gang called Butterfly, which also attacked law firms and pharmaceutical companies.
Computer security firm Symantec concluded that the group likely works for hire, either for a client looking for financial gain in the stock market or for competitors. How Butterfly gets hired remains unclear. Tech criminologist Marc Goodman, author of the book “Future Crimes”, says another group, dubbed Hidden Lynx by Symantec, may consist of contractors moonlighting from jobs with the Chinese military. http://www.symantec.com/content/en/us/enterprise/media/security_response/whitepapers/hidden_lynx.pdf "It's crime as a service," "Goodman said. "They take all the pain out of it."
(Reporting by Joseph Menn in San Francisco and Jim Finkle and Nate Raymond in New York; Additional reporting from Maayan Lubell in Jerusalem; Editing by Jonathan Weber and Martin Howell.) || Hired-gun hacking played key role in JPMorgan, Fidelity breaches: By Jim Finkle and Joseph Menn NEW YORK/SAN FRANCISCO (Reuters) - When U.S. prosecutors this week charged two Israelis and an American fugitive with raking in hundreds of millions of dollars in one of the largest and most complex cases of cyber fraud ever exposed, they also provided an unusual look into the burgeoning industry of criminal hackers for hire. The trio, who are accused of orchestrating massive computer breaches at JPMorgan Chase & Co (JPM.N) and other financial firms, as well as a series of other major offences, did little if any hacking themselves, the federal indictments and a previous civil case brought by the U.S. Securities and Exchange Commission indicate. Rather, they constructed a criminal conglomerate with activities ranging from pump-and-dump stock fraud to Internet casino break-ins and unlicensed Bitcoin trading. And just like many legitimate corporations, they outsourced much of their technology needs. "They clearly had to recruit co-conspirators and have that type of hacker-for-hire," said Austin Berglas, former assistant special agent in charge of the FBI's New York cyber division, who worked the JPMorgan case before he left the agency in May. "This is the first case where it's that clear of a connection." Berglas, who now heads cyber investigations for private firm K2 Intelligence, said additional major cases of freelance hacking will come to light, especially as more people become familiar with online tools such as Tor that seek to conceal a user’s identity and location. RENTED TIME This week's indictments accused a hacker referred to as "co-conspirator 1" of installing malicious software on the servers of multiple victims at the direction of Gery Shalon, the alleged mastermind of the scheme now under arrest in Israel. A second indictment charges a man referred to as John Doe, believed to be in Russia, for an attack on online trading firm E*Trade (ETFC.O). Officials have not said if the co-conspirator and John Doe were the same person, or even if the FBI knows their true identities. Story continues Law enforcement and computer security officials say that outsourced cyber-crime services - including rented time on networks of previously compromised personal computers and custom break-ins - are most readily found on underground Russian-language computer forums, where skilled attackers advertise their services. The forums are tight-knit communities where newbies must be vouched for by multiple known members and pay membership fees that cost thousands of dollars, said Daniel Cohen, who oversees an undercover team at EMC Corp's (EMC.N) RSA Security that monitors the forums. “You can find anything you want for an operation. Hackers, servers, software, code writing. They are all available," said Cohen. Individuals hide their identities even from each other, making infiltration and arrests rare. In this case, the ringleaders are accused of hiring hackers to steal contact information and other data that they then used to help convince ordinary investors to buy little-regulated stocks. Prosecutors have not disclosed how the hackers were compensated. Fees vary greatly in the cyber underground, depending on the complexity of the assignment and supply of talent available to do a particular job. Elite hackers who pull off the most technically challenging attacks might get a percentage of profits, while others might earn an hourly rate or get paid a few thousand dollars for winning access to a target’s network, researchers said.PUMP-AND-DUMP All three of those accused this week - Shalon, Joshua Samuel Aaron, who is at large, and Ziv Orenstein, who is also in jail in Israel – began promoting penny stocks before the hacks took place, according to U.S. government claims. They used websites including Pennystockdiscoveries.com and Stockcastle.com to send emails as part of a scheme in which they invested in penny stocks, spread false information to boost their prices, and then sold them to make windfall profits, according to an SEC suit filed in July. Orenstein’s lawyer declined to comment, and Shalon’s lawyer did not return messages seeking comment. In one case in early 2012, the SEC claims that they used the website Stockcastle.com to promote shares in Mustang Alliances Inc, reaping $2.2 million, the largest pump-and-dump cited in the regulator's lawsuit. In March of that year, the British Virgin Islands Financial Services Commission issued an alert warning that two entities tied to Stockcastle were falsely claiming to be registered in the territory. That same year, the enterprise began a massive hacking spree to get contact information for investors who might be good targets, according to prosecutors. By the end of 2013 they had ordered up six hacks that provided data on tens of millions of customers, prosecutors said. They hit the mother lode in 2014 when they attacked three other firms, and stole data on 83 million customers from JP Morgan alone, prosecutors said. In addition to JP Morgan and E*Trade, the firms attacked included the mutual fund giant Fidelity Investments, Scottrade, TD Ameritrade Holding Corp (AMTD.N) and News Corp's (NWSA.O) Dow Jones unit, the publisher of the Wall Street Journal, according to court documents and people familiar with the cases. "To do a 'pump-and-dump' operation, you no longer need 30 people behind phones in a strip mall," said Shane Shook, a security consultant specializing in investigating financial breaches. All you need is to find a hacker on a “Dark Web” forum to provide addresses from customers of financial services firms like Fidelity or JPMorgan, then hire a spam service to push out promotional emails, he said. Shalon bragged about the stock manipulation scheme, telling the hacker known as co-conspirator 1 in a web chat message that it was "a small step towards a large empire," according to the indictment. His plan, Shalon told the hacker, was to distribute "mailers" on stocks to those customers. The hacker asked if buying stocks was popular in America, the indictment said, prompting Shalon to reply: "It's like drinking freaking vodka in Russia." Shalon ultimately made good on his promise to build an empire, according to the indictments. Profits from the pump-and-dump fed into a sprawling conglomerate including offshore Internet casinos and payment-processing services for other criminal operators, such as counterfeit pharmaceutical makers. Shalon also allegedly directed hackers to attack rival casinos, stealing customer data and temporarily bringing down their websites with denial-of-service attacks, which are easily commissioned online.BUTTERFLY AND HIDDEN LYNX While this week's indictments opened the first major criminal case involving outsourced hacking, there have been other substantial break-ins that researchers believe were contract jobs. Researchers at Symantec in July attributed a series of precision breaches at Apple, Facebook, Microsoft and Twitter in 2012 and 2013 to a sophisticated gang called Butterfly, which also attacked law firms and pharmaceutical companies. Computer security firm Symantec concluded that the group likely works for hire, either for a client looking for financial gain in the stock market or for competitors. How Butterfly gets hired remains unclear. Tech criminologist Marc Goodman, author of the book “Future Crimes”, says another group, dubbed Hidden Lynx by Symantec, may consist of contractors moonlighting from jobs with the Chinese military. http://www.symantec.com/content/en/us/enterprise/media/security_response/whitepapers/hidden_lynx.pdf "It's crime as a service," "Goodman said. "They take all the pain out of it." (Reporting by Joseph Menn in San Francisco and Jim Finkle and Nate Raymond in New York; Additional reporting from Maayan Lubell in Jerusalem; Editing by Jonathan Weber and Martin Howell.) || Banks expected to adopt new technologies rather than be overrun: NEW YORK (Reuters) - New technology firms are battering all kinds of companies, but banks will remain as financial intermediaries, due to the regulations and duties governments have put on them, says a proponent of the technology behind the bitcoin cryptocurrency. "Regulation keeps them in place. Regulation requires them to perform certain functions," said Mark Smith, chief executive of Symbiont.io, a startup that has emerged from Bitcoin 2.0 and MathMoney f(x) Inc to build a securities trading platform using blockchain technology like that behind bitcoin. Smith predicted that big banks, such as JPMorgan Chase & Co, would adopt new technologies to cut costs for back offices that process loans and match buyers and sellers of securities. "A massive amount of infrastructure just goes away," said Smith, who was speaking on Thursday in a panel discussion held by Thomson Reuters on innovation and disruption in financial services. New competitors are coming into banking from Silicon Valley, JPMorgan's chief executive, Jamie Dimon, warned bank shareholders this year. But he also said JPMorgan had much to learn from them and might enter partnerships with some. JPMorgan worked with Apple Inc on last year's launch of the Apple Pay application for making credit and debit card payments with smartphones. Last month the bank said it would also operate a rival digital wallet called Chase Pay. Later, Smith said his firm expected to sell tools to big banks for securities trading by customers. "We are a disrupter and an enabler as well," he added. Another panel member, Sam Shrauger, senior vice president of digital solutions at card and payments company Visa Inc, said that while cash and paper check transactions give way to electronic messages, "that's not going to change the overarching way that we move money." (Reporting by David Henry in New York; Editing by Clarence Fernandez) || Banks expected to adopt new technologies rather than be overrun: NEW YORK (Reuters) - New technology firms are battering all kinds of companies, but banks will remain as financial intermediaries, due to the regulations and duties governments have put on them, says a proponent of the technology behind the bitcoin cryptocurrency.
"Regulation keeps them in place. Regulation requires them to perform certain functions," said Mark Smith, chief executive of Symbiont.io, a startup that has emerged from Bitcoin 2.0 and MathMoney f(x) Inc to build a securities trading platform using blockchain technology like that behind bitcoin.
Smith predicted that big banks, such as JPMorgan Chase & Co, would adopt new technologies to cut costs for back offices that process loans and match buyers and sellers of securities.
"A massive amount of infrastructure just goes away," said Smith, who was speaking on Thursday in a panel discussion held by Thomson Reuters on innovation and disruption in financial services.
New competitors are coming into banking from Silicon Valley, JPMorgan's chief executive, Jamie Dimon, warned bank shareholders this year. But he also said JPMorgan had much to learn from them and might enter partnerships with some.
JPMorgan worked with Apple Inc on last year's launch of the Apple Pay application for making credit and debit card payments with smartphones.
Last month the bank said it would also operate a rival digital wallet called Chase Pay.
Later, Smith said his firm expected to sell tools to big banks for securities trading by customers. "We are a disrupter and an enabler as well," he added.
Another panel member, Sam Shrauger, senior vice president of digital solutions at card and payments company Visa Inc, said that while cash and paper check transactions give way to electronic messages, "that's not going to change the overarching way that we move money."
(Reporting by David Henry in New York; Editing by Clarence Fernandez) || Banks expected to adopt new technologies rather than be overrun: NEW YORK, Nov 12 (Reuters) - New technology firms are battering all kinds of companies, but banks will remain as financial intermediaries, due to the regulations and duties governments have put on them, says a proponent of the technology behind the bitcoin cryptocurrency. "Regulation keeps them in place. Regulation requires them to perform certain functions," said Mark Smith, chief executive of Symbiont.io, a startup that has emerged from Bitcoin 2.0 and MathMoney f(x) Inc to build a securities trading platform using blockchain technology like that behind bitcoin. Smith predicted that big banks, such as JPMorgan Chase & Co, would adopt new technologies to cut costs for back offices that process loans and match buyers and sellers of securities. "A massive amount of infrastructure just goes away," said Smith, who was speaking on Thursday in a panel discussion held by Thomson Reuters on innovation and disruption in financial services. New competitors are coming into banking from Silicon Valley, JPMorgan's chief executive, Jamie Dimon, warned bank shareholders this year. But he also said JPMorgan had much to learn from them and might enter partnerships with some. JPMorgan worked with Apple Inc on last year's launch of the Apple Pay application for making credit and debit card payments with smartphones. Last month the bank said it would also operate a rival digital wallet called Chase Pay. Later, Smith said his firm expected to sell tools to big banks for securities trading by customers. "We are a disrupter and an enabler as well," he added. Another panel member, Sam Shrauger, senior vice president of digital solutions at card and payments company Visa Inc, said that while cash and paper check transactions give way to electronic messages, "that's not going to change the overarching way that we move money." (Reporting by David Henry in New York; Editing by Clarence Fernandez) View comments || Banks expected to adopt new technologies rather than be overrun: NEW YORK, Nov 12 (Reuters) - New technology firms are battering all kinds of companies, but banks will remain as financial intermediaries, due to the regulations and duties governments have put on them, says a proponent of the technology behind the bitcoin cryptocurrency.
"Regulation keeps them in place. Regulation requires them to perform certain functions," said Mark Smith, chief executive of Symbiont.io, a startup that has emerged from Bitcoin 2.0 and MathMoney f(x) Inc to build a securities trading platform using blockchain technology like that behind bitcoin.
Smith predicted that big banks, such as JPMorgan Chase & Co, would adopt new technologies to cut costs for back offices that process loans and match buyers and sellers of securities.
"A massive amount of infrastructure just goes away," said Smith, who was speaking on Thursday in a panel discussion held by Thomson Reuters on innovation and disruption in financial services.
New competitors are coming into banking from Silicon Valley, JPMorgan's chief executive, Jamie Dimon, warned bank shareholders this year. But he also said JPMorgan had much to learn from them and might enter partnerships with some.
JPMorgan worked with Apple Inc on last year's launch of the Apple Pay application for making credit and debit card payments with smartphones.
Last month the bank said it would also operate a rival digital wallet called Chase Pay.
Later, Smith said his firm expected to sell tools to big banks for securities trading by customers. "We are a disrupter and an enabler as well," he added.
Another panel member, Sam Shrauger, senior vice president of digital solutions at card and payments company Visa Inc, said that while cash and paper check transactions give way to electronic messages, "that's not going to change the overarching way that we move money." (Reporting by David Henry in New York; Editing by Clarence Fernandez) || New York exchange itBit says won 5 blocks of U.S. bitcoin auction: By Gertrude Chavez-Dreyfuss
NEW YORK (Reuters) - New York-based bitcoin exchange itBit said on Monday it won five blocks of the digital currency at last week's auction conducted by the U.S. Marshals Service.
The bid by itBit was organized on behalf of a syndicate of the exchange's and over-the-counter trading clients, said Bobby Cho, director of trading at itBit, in an email to Reuters.
The five blocks of the virtual currency may have added up to at least 10,000 bitcoins. Cho declined to make further comments.
Last week's auction included 21 blocks of 2,000 bitcoins and one block of over 2,341.
The U.S. government on Thursday held its final auction of bitcoins seized during the prosecution of the creator of Silk Road, an online black market where the virtual currency could be used to buy illegal drugs and other goods.
It auctioned 44,341 bitcoins last week.
When contacted for comment, the U.S. Marshals Service said it was not anticipating further announcements on Monday.
itBit also won part of the U.S. government's auction in March, nabbing 3,000 of the 50,000 bitcoins auctioned.
In May, itBit became the first virtual currency company to receive a charter to operate as a trust company in the state of New York.
Meanwhile, Genesis Global Trading, a unit of Digital Currency Group founded by prominent bitcoin investor Barry Silbert, was informed by the U.S. Marshals Service that the company did not win any of the blocks up for auction, the company's chief executive officer, Brendan O'Connor, said in an email to Reuters on Monday.
In late trading on Monday, bitcoin was trading up 1.8 percent on the day at $379.27 on the BitStamp platform. That put the value of the 44,341 bitcoins auctioned at about $16.8 million.
Bitcoins are used as a vehicle for moving money around the world quickly and anonymously via the Web without the need for third-party verification.
Last Thursday's auction drew just 11 registered bidders and 30 bids, a decline from the March sale, which attracted 34 bids from 14 registered bidders.
(Reporting by Gertrude Chavez-Dreyfuss; Additional reporting by Nate Raymond; Editing by Diane Craft and Jonathan Oatis) || New York exchange itBit says won 5 blocks of U.S. bitcoin auction: By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - New York-based bitcoin exchange itBit said on Monday it won five blocks of the digital currency at last week's auction conducted by the U.S. Marshals Service. The bid by itBit was organized on behalf of a syndicate of the exchange's and over-the-counter trading clients, said Bobby Cho, director of trading at itBit, in an email to Reuters. The five blocks of the virtual currency may have added up to at least 10,000 bitcoins. Cho declined to make further comments. Last week's auction included 21 blocks of 2,000 bitcoins and one block of over 2,341. The U.S. government on Thursday held its final auction of bitcoins seized during the prosecution of the creator of Silk Road, an online black market where the virtual currency could be used to buy illegal drugs and other goods. It auctioned 44,341 bitcoins last week. When contacted for comment, the U.S. Marshals Service said it was not anticipating further announcements on Monday. itBit also won part of the U.S. government's auction in March, nabbing 3,000 of the 50,000 bitcoins auctioned. In May, itBit became the first virtual currency company to receive a charter to operate as a trust company in the state of New York. Meanwhile, Genesis Global Trading, a unit of Digital Currency Group founded by prominent bitcoin investor Barry Silbert, was informed by the U.S. Marshals Service that the company did not win any of the blocks up for auction, the company's chief executive officer, Brendan O'Connor, said in an email to Reuters on Monday. In late trading on Monday, bitcoin was trading up 1.8 percent on the day at $379.27 on the BitStamp platform. That put the value of the 44,341 bitcoins auctioned at about $16.8 million. Bitcoins are used as a vehicle for moving money around the world quickly and anonymously via the Web without the need for third-party verification. Last Thursday's auction drew just 11 registered bidders and 30 bids, a decline from the March sale, which attracted 34 bids from 14 registered bidders. (Reporting by Gertrude Chavez-Dreyfuss; Additional reporting by Nate Raymond; Editing by Diane Craft and Jonathan Oatis) || New York exchange itBit says won 5 blocks of U.S. bitcoin auction: (Adds details, paragraph on Genesis Trading which did not win this auction, bitcoin price, byline) By Gertrude Chavez-Dreyfuss NEW YORK, Nov 9 (Reuters) - New York-based bitcoin exchange itBit said on Monday it won five blocks of the digital currency at last week's auction conducted by the U.S. Marshals Service. The bid by itBit was organized on behalf of a syndicate of the exchange's and over-the-counter trading clients, said Bobby Cho, director of trading at itBit, in an email to Reuters. The five blocks of the virtual currency may have added up to at least 10,000 bitcoins. Cho declined to make further comments. Last week's auction included 21 blocks of 2,000 bitcoins and one block of over 2,341. The U.S. government on Thursday held its final auction of bitcoins seized during the prosecution of the creator of Silk Road, an online black market where the virtual currency could be used to buy illegal drugs and other goods. It auctioned 44,341 bitcoins last week. When contacted for comment, the U.S. Marshals Service said it was not anticipating further announcements on Monday. itBit also won part of the U.S. government's auction in March, nabbing 3,000 of the 50,000 bitcoins auctioned. In May, itBit became the first virtual currency company to receive a charter to operate as a trust company in the state of New York. Meanwhile, Genesis Global Trading, a unit of Digital Currency Group founded by prominent bitcoin investor Barry Silbert, was informed by the U.S. Marshals Service that the company did not win any of the blocks up for auction, the company's chief executive officer, Brendan O'Connor, said in an email to Reuters on Monday. In late trading on Monday, bitcoin was trading up 1.8 percent on the day at $379.27 on the BitStamp platform. That put the value of the 44,341 bitcoins auctioned at about $16.8 million. Bitcoins are used as a vehicle for moving money around the world quickly and anonymously via the Web without the need for third-party verification. Last Thursday's auction drew just 11 registered bidders and 30 bids, a decline from the March sale, which attracted 34 bids from 14 registered bidders. (Reporting by Gertrude Chavez-Dreyfuss; Additional reporting by Nate Raymond; Editing by Diane Craft and Jonathan Oatis) || New York exchange itBit says won 5 blocks of U.S. bitcoin auction: (Adds details, paragraph on Genesis Trading which did not win this auction, bitcoin price, byline)
By Gertrude Chavez-Dreyfuss
NEW YORK, Nov 9 (Reuters) - New York-based bitcoin exchange itBit said on Monday it won five blocks of the digital currency at last week's auction conducted by the U.S. Marshals Service.
The bid by itBit was organized on behalf of a syndicate of the exchange's and over-the-counter trading clients, said Bobby Cho, director of trading at itBit, in an email to Reuters.
The five blocks of the virtual currency may have added up to at least 10,000 bitcoins. Cho declined to make further comments.
Last week's auction included 21 blocks of 2,000 bitcoins and one block of over 2,341.
The U.S. government on Thursday held its final auction of bitcoins seized during the prosecution of the creator of Silk Road, an online black market where the virtual currency could be used to buy illegal drugs and other goods.
It auctioned 44,341 bitcoins last week.
When contacted for comment, the U.S. Marshals Service said it was not anticipating further announcements on Monday.
itBit also won part of the U.S. government's auction in March, nabbing 3,000 of the 50,000 bitcoins auctioned.
In May, itBit became the first virtual currency company to receive a charter to operate as a trust company in the state of New York.
Meanwhile, Genesis Global Trading, a unit of Digital Currency Group founded by prominent bitcoin investor Barry Silbert, was informed by the U.S. Marshals Service that the company did not win any of the blocks up for auction, the company's chief executive officer, Brendan O'Connor, said in an email to Reuters on Monday.
In late trading on Monday, bitcoin was trading up 1.8 percent on the day at $379.27 on the BitStamp platform. That put the value of the 44,341 bitcoins auctioned at about $16.8 million.
Bitcoins are used as a vehicle for moving money around the world quickly and anonymously via the Web without the need for third-party verification.
Last Thursday's auction drew just 11 registered bidders and 30 bids, a decline from the March sale, which attracted 34 bids from 14 registered bidders.
(Reporting by Gertrude Chavez-Dreyfuss; Additional reporting by Nate Raymond; Editing by Diane Craft and Jonathan Oatis) || A Nobel Prize winner just ripped into bitcoin, saying it 'is likely to go to zero': Eugene Fama.
Bitcoin has beenripping higher recently, and some market participants saythe digital currency is finally making a rebound with investorsafter a sustained fall.
The advice from one Nobel Prize winner:not so fast.
Professor Eugene Fama, who won the 2013 Nobel Prize for economics, thinks the value of bitcoin "is likely to go to zero," at some point,according to an interview posted on CoinTelegraph.
Bitcoin prices are hovering around the $400 mark right now, after making a big runup in late October and early November.
"People won’t use it because basically it’s very difficult to know how much you need to settle. It is quite variable, they won’t want to hold it as just a way of settling payments, they will try to get rid of it quickly, as they do; and that’s not good for the survival of that kind of a unit of account," he said in his interview.
"As if it doesn’t have a stable value it’s probably not going to survive as a unit of account. What that means is that its value is likely to go to zero at some point."
Fama goes on to say bitcoin does not represent a "store of value," as gold does for investors.
"I guess that for a drug dealer that has a lot more value," he said.
There's a SoundCloud embed below; head toCoinTelegraph to read a full version of what Fama had to say.
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• The Rise Of Bitcoin: Is It A Solution Or Menace? || MarilynJean Interactive (MJMI.QB) Welcomes Top Bitcoin Remittance and ATM Expert to Board of Advisors: HENDERSON, NV / ACCESSWIRE / November 9, 2015 / MarilynJean Interactive ( MJMI ) today announced it has retained Christopher Concepcion to serve on its board of advisors. Mr. Concepcion has an MBA from Stanford University, over 30 years of international corporate expertise at the executive level, wide ranging business relationships in the Philippines and extensive experience in Bitcoin remittance and ATM operations. Mr. Concepcion was born and raised in the Philippines where he earned his undergraduate degree in business at The University of The Philippines in Manila. He then completed an MBA at Stanford University in California. While in the Philippines, Mr. Concepcion held executive positions in companies involved in supply chain management, real estate financing, insurance and communications. He has worked with Filipino remittances for the last 12 years. Mr. Concepcion was also a member of the Capital Markets Development Council that provided public / private business policy advice to the Philippine government. Mr. Concepcion and his family relocated to Canada in 2014. In late 2014, Mr. Concepcion formed Bitcoiniacs Holdings Inc., to acquire the world's first Bitcoin ATM operator. Mr. Concepcion then pivoted the business toward remittances, with a focus on using Bitcoins to allow foreign workers to quickly and inexpensively remit funds to the Philippines. Peter Janosi, MJMI's president said: "We couldn't be more excited to have Mr. Concepcion join our growing team. His expertise and the business direction of his firm match perfectly with 's plans in the remittance space. Mr. Concepcion's firm owns the world's first Bitcoin ATM and the first standalone Bitcoin remittance storefront, both in Vancouver Canada. With his Bitcoin expertise and top level Philippine contacts, we firmly believe Mr. Concepcion will provide invaluable advice and important introductions as we target the multi-billion dollar Philippine remittance market. We look forward to updating our shareholders as we grow this relationship." Story continues About MJMI MJMI is in the business of providing safe and accessible services for the users of Bitcoin and other crypto-currencies. Crypto-currencies are a medium of exchange using cryptography to secure transactions and control the creation of new units. Bitcoin became the first decentralized crypto-currency in 2009. Crypto-currency is produced at a rate which is defined when the system is created and publicly known. By contrast, in centralized banking and economic systems, such as the Federal Reserve System, corporate boards or governments control the supply of currency by printing units or demanding additions to digital banking ledgers. However, neither companies nor governments can produce units of crypto-currency and as such the value of crypto-currencies are completely based on supply and demand, free from any governmental control. Many people believe crypto-currencies, and in particular bitcoin, hold the promise of being the most significant advancement in global finance in modern history. The advent of bitcoin creates a secure, easily accessible and transferable transnational currency that is completely liberated from political influence. MJMI is currently exploring partnerships in several verticals within the crypto-currency space, including the multi-billion dollar remittance market. Management believes that several industries, including both international remittances and online gambling are on the verge of being revolutionized by the use of Bitcoin to effect transactions. MarilynJean Media Interactive is among the first publicly traded companies focused on bitcoin and the crypto-currency space. The company's trading symbol is MJMI.QB. Website: www.marilynjean.com Press Contact: bonnie@marilynjean.com SOURCE: MarilynJean Media Interactive || MarilynJean Interactive (MJMI.QB) Welcomes Top Bitcoin Remittance and ATM Expert to Board of Advisors: HENDERSON, NV / ACCESSWIRE / November 9, 2015 / MarilynJean Interactive ( MJMI ) today announced it has retained Christopher Concepcion to serve on its board of advisors. Mr. Concepcion has an MBA from Stanford University, over 30 years of international corporate expertise at the executive level, wide ranging business relationships in the Philippines and extensive experience in Bitcoin remittance and ATM operations. Mr. Concepcion was born and raised in the Philippines where he earned his undergraduate degree in business at The University of The Philippines in Manila. He then completed an MBA at Stanford University in California. While in the Philippines, Mr. Concepcion held executive positions in companies involved in supply chain management, real estate financing, insurance and communications. He has worked with Filipino remittances for the last 12 years. Mr. Concepcion was also a member of the Capital Markets Development Council that provided public / private business policy advice to the Philippine government. Mr. Concepcion and his family relocated to Canada in 2014. In late 2014, Mr. Concepcion formed Bitcoiniacs Holdings Inc., to acquire the world's first Bitcoin ATM operator. Mr. Concepcion then pivoted the business toward remittances, with a focus on using Bitcoins to allow foreign workers to quickly and inexpensively remit funds to the Philippines. Peter Janosi, MJMI's president said: "We couldn't be more excited to have Mr. Concepcion join our growing team. His expertise and the business direction of his firm match perfectly with 's plans in the remittance space. Mr. Concepcion's firm owns the world's first Bitcoin ATM and the first standalone Bitcoin remittance storefront, both in Vancouver Canada. With his Bitcoin expertise and top level Philippine contacts, we firmly believe Mr. Concepcion will provide invaluable advice and important introductions as we target the multi-billion dollar Philippine remittance market. We look forward to updating our shareholders as we grow this relationship." Story continues About MJMI MJMI is in the business of providing safe and accessible services for the users of Bitcoin and other crypto-currencies. Crypto-currencies are a medium of exchange using cryptography to secure transactions and control the creation of new units. Bitcoin became the first decentralized crypto-currency in 2009. Crypto-currency is produced at a rate which is defined when the system is created and publicly known. By contrast, in centralized banking and economic systems, such as the Federal Reserve System, corporate boards or governments control the supply of currency by printing units or demanding additions to digital banking ledgers. However, neither companies nor governments can produce units of crypto-currency and as such the value of crypto-currencies are completely based on supply and demand, free from any governmental control. Many people believe crypto-currencies, and in particular bitcoin, hold the promise of being the most significant advancement in global finance in modern history. The advent of bitcoin creates a secure, easily accessible and transferable transnational currency that is completely liberated from political influence. MJMI is currently exploring partnerships in several verticals within the crypto-currency space, including the multi-billion dollar remittance market. Management believes that several industries, including both international remittances and online gambling are on the verge of being revolutionized by the use of Bitcoin to effect transactions. MarilynJean Media Interactive is among the first publicly traded companies focused on bitcoin and the crypto-currency space. The company's trading symbol is MJMI.QB. Website: www.marilynjean.com Press Contact: bonnie@marilynjean.com SOURCE: MarilynJean Media Interactive || MarilynJean Interactive (MJMI.QB) Welcomes Top Bitcoin Remittance and ATM Expert to Board of Advisors: HENDERSON, NV / ACCESSWIRE / November 9, 2015 / MarilynJean Interactive ( MJMI ) today announced it has retained Christopher Concepcion to serve on its board of advisors. Mr. Concepcion has an MBA from Stanford University, over 30 years of international corporate expertise at the executive level, wide ranging business relationships in the Philippines and extensive experience in Bitcoin remittance and ATM operations. Mr. Concepcion was born and raised in the Philippines where he earned his undergraduate degree in business at The University of The Philippines in Manila. He then completed an MBA at Stanford University in California. While in the Philippines, Mr. Concepcion held executive positions in companies involved in supply chain management, real estate financing, insurance and communications. He has worked with Filipino remittances for the last 12 years. Mr. Concepcion was also a member of the Capital Markets Development Council that provided public / private business policy advice to the Philippine government. Mr. Concepcion and his family relocated to Canada in 2014. In late 2014, Mr. Concepcion formed Bitcoiniacs Holdings Inc., to acquire the world's first Bitcoin ATM operator. Mr. Concepcion then pivoted the business toward remittances, with a focus on using Bitcoins to allow foreign workers to quickly and inexpensively remit funds to the Philippines. Peter Janosi, MJMI's president said: "We couldn't be more excited to have Mr. Concepcion join our growing team. His expertise and the business direction of his firm match perfectly with 's plans in the remittance space. Mr. Concepcion's firm owns the world's first Bitcoin ATM and the first standalone Bitcoin remittance storefront, both in Vancouver Canada. With his Bitcoin expertise and top level Philippine contacts, we firmly believe Mr. Concepcion will provide invaluable advice and important introductions as we target the multi-billion dollar Philippine remittance market. We look forward to updating our shareholders as we grow this relationship." Story continues About MJMI MJMI is in the business of providing safe and accessible services for the users of Bitcoin and other crypto-currencies. Crypto-currencies are a medium of exchange using cryptography to secure transactions and control the creation of new units. Bitcoin became the first decentralized crypto-currency in 2009. Crypto-currency is produced at a rate which is defined when the system is created and publicly known. By contrast, in centralized banking and economic systems, such as the Federal Reserve System, corporate boards or governments control the supply of currency by printing units or demanding additions to digital banking ledgers. However, neither companies nor governments can produce units of crypto-currency and as such the value of crypto-currencies are completely based on supply and demand, free from any governmental control. Many people believe crypto-currencies, and in particular bitcoin, hold the promise of being the most significant advancement in global finance in modern history. The advent of bitcoin creates a secure, easily accessible and transferable transnational currency that is completely liberated from political influence. MJMI is currently exploring partnerships in several verticals within the crypto-currency space, including the multi-billion dollar remittance market. Management believes that several industries, including both international remittances and online gambling are on the verge of being revolutionized by the use of Bitcoin to effect transactions. MarilynJean Media Interactive is among the first publicly traded companies focused on bitcoin and the crypto-currency space. The company's trading symbol is MJMI.QB. Website: www.marilynjean.com Press Contact: bonnie@marilynjean.com SOURCE: MarilynJean Media Interactive
[Social Media Buzz]
Average Bitcoin market price is: USD 320.50, EUR 298.00 || #RDD / #BTC on the exchanges: Cryptsy: 0.00000002 Bittrex: 0.00000003 Average $6.0E-6 per #reddcoin 02:45:00 via #p…pic.twitter.com/xCDfSrXDQx || Current price: 318.3$ $BTCUSD $btc #bitcoin 2015-11-16 00:20:01 EST || Gold $1,082.98 | Silver $14.27 | Platinum $866.00 | Bitcoin $328.51
Call us toll free 800-874-9760 or shop online http://RRBI.co || In the last 10 mins, there were arb opps spanning 12 exchange pair(s), yielding profits ra...
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335.09, 334.59, 326.15, 322.02, 326.93, 324.54, 323.05, 320.05, 328.21, 352.68
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Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 3620.81, 3629.79, 3673.84, 3915.71, 3947.09, 3999.82, 3954.12, 4005.53, 4142.53, 3810.43, 3882.70, 3854.36, 3851.05, 3854.79, 3859.58, 3864.42, 3847.18, 3761.56, 3896.38, 3903.94, 3911.48, 3901.13, 3963.31, 3951.60, 3905.23, 3909.16, 3906.72, 3924.37, 3960.91, 4048.73, 4025.23, 4032.51, 4071.19, 4087.48, 4029.33, 4023.97, 4035.83, 4022.17, 3963.07, 3985.08, 4087.07, 4069.11, 4098.37, 4106.66, 4105.40, 4158.18, 4879.88, 4973.02, 4922.80, 5036.68, 5059.82, 5198.90, 5289.77, 5204.96, 5324.55, 5064.49, 5089.54, 5096.59, 5167.72, 5067.11, 5235.56, 5251.94, 5298.39, 5303.81, 5337.89, 5314.53, 5399.37, 5572.36, 5464.87, 5210.52, 5279.35, 5268.29, 5285.14, 5247.35, 5350.73, 5402.70, 5505.28, 5768.29, 5831.17, 5795.71, 5746.81, 5829.50, 5982.46, 6174.53, 6378.85, 7204.77, 6972.37, 7814.92, 7994.42, 8205.17.
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[Bitcoin Technical Analysis for 2019-05-15]
Volume: 28344112920, RSI (14-day): 87.18, 50-day EMA: 5630.15, 200-day EMA: 5031.54
[Wider Market Context]
Gold Price: 1296.30, Gold RSI: 56.94
Oil Price: 62.02, Oil RSI: 48.31
[Recent News (last 7 days)]
FOIN Climbs 12% As Investors Gain Confidence: Investing.com - FOIN was trading at $1,703.50 by 23:26 (03:26 GMT) on the Synthetic exchange on Wednesday, up 12.20% on the day. It was the largest one-day percentage gain since May 13. The move upwards pushed FOIN's market cap up to $0.00, or 0.00% of the total cryptocurrency market cap. At its highest, FOIN's market cap was $0.00. FOIN had traded in a range of $1,681.88 to $1,715.08 in the previous twenty-four hours. Over the past seven days, FOIN has seen a rise in value, as it gained 2.76%. The volume of FOIN traded in the twenty-four hours to time of writing was $1.12M or 0.00% of the total volume of all cryptocurrencies. It has traded in a range of $1,336.0090 to $1,770.4860 in the past 7 days. At its current price, FOIN is still down 89.19% from its all-time high of $15,759.33 set on March 18. Elsewhere in cryptocurrency trading Bitcoin was last at $8,051.5 on the Investing.com Index, up 1.36% on the day. Ethereum was trading at $226.27 on the Investing.com Index, a gain of 7.70%. Bitcoin's market cap was last at $142.70B or 58.19% of the total cryptocurrency market cap, while Ethereum's market cap totaled $23.92B or 9.75% of the total cryptocurrency market value. Related Articles XRP Climbs 15% As Investors Gain Confidence German State Announces Plan to Establish European Blockchain Institute Crypto Custodians Foresee Growth in Partnerships with Traditional Custodians || FOIN Climbs 12% As Investors Gain Confidence: Investing.com - FOIN was trading at $1,703.50 by 23:26 (03:26 GMT) on the Synthetic exchange on Wednesday, up 12.20% on the day. It was the largest one-day percentage gain since May 13.
The move upwards pushed FOIN's market cap up to $0.00, or 0.00% of the total cryptocurrency market cap. At its highest, FOIN's market cap was $0.00.
FOIN had traded in a range of $1,681.88 to $1,715.08 in the previous twenty-four hours.
Over the past seven days, FOIN has seen a rise in value, as it gained 2.76%. The volume of FOIN traded in the twenty-four hours to time of writing was $1.12M or 0.00% of the total volume of all cryptocurrencies. It has traded in a range of $1,336.0090 to $1,770.4860 in the past 7 days.
At its current price, FOIN is still down 89.19% from its all-time high of $15,759.33 set on March 18.
Bitcoin was last at $8,051.5 on the Investing.com Index, up 1.36% on the day.
Ethereum was trading at $226.27 on the Investing.com Index, a gain of 7.70%.
Bitcoin's market cap was last at $142.70B or 58.19% of the total cryptocurrency market cap, while Ethereum's market cap totaled $23.92B or 9.75% of the total cryptocurrency market value.
Related Articles
XRP Climbs 15% As Investors Gain Confidence
German State Announces Plan to Establish European Blockchain Institute
Crypto Custodians Foresee Growth in Partnerships with Traditional Custodians || Legal Troubles Beset Pharmaceutical Sector ETFs: This article was originally published onETFTrends.com.
Pharmaceutical ETFs may be in trouble with legal troubles looming over the industry.
The drugmaker segment recently sold-off after an amended civil antitrust complaint brought by more than 40 state attorneys general alleged that 15 individuals and 20 corporate defendants conspired to fix prices on over 100 generic drugs, theWall Street Journalreports.
Teva Pharmaceutical Industries (TEVA)andMylan (MYL)were among the hardest hit by the recent allegations.
The potential for greater legal risk could also dampen the outlook on pharma-related ETFs, such asInvesco Dynamic Pharmaceuticals Portfolio (PJP) ,SPDR Pharmaceuticals ETF (XPH) ,iShares U.S. Pharmaceuticals ETF (IHE) ,VanEck Vectors Pharmaceutical ETF (PPH) andVanEck Vectors Generic Drugs ETF (GNRX) .
While some may argue that drug prices are getting out of control, an industry trade group accurately pointed out that generic-drug prices have actually been in decline for years. Furthermore, total generic-drug spending accounts for a fraction of overall drug costs and only amount to a rounding error in the context of total U.S. health spending.
Market observes may point out that the loss of industry pricing power was priced into stocks long ago with several drugmaker stocks now more than 70% below their highest close. However, potential value diggers should keep in mind that a finalized verdict or settlement agreements are years away.
Under the Affordable Care Act, health insurers are faced with fixed profit margins, so they can make higher overall profits in those programs if health spending rises. Consequently, health-care inflation is no surprise given the current circumstances. Meanwhile, for investors, it means that the system maximizes access to health services without meaningful cost-control tools.
Looking ahead, the sector, which has underperformed the S&P 500, will likely continue to fall behind if the risk of disruptions such as legal troubles rises.
For more information on the pharma sector, visit ourpharmaceuticals category.
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READ MORE AT ETFTRENDS.COM > || Legal Troubles Beset Pharmaceutical Sector ETFs: This article was originally published on ETFTrends.com. Pharmaceutical ETFs may be in trouble with legal troubles looming over the industry. The drugmaker segment recently sold-off after an amended civil antitrust complaint brought by more than 40 state attorneys general alleged that 15 individuals and 20 corporate defendants conspired to fix prices on over 100 generic drugs, the Wall Street Journal reports. Teva Pharmaceutical Industries (TEVA) and Mylan (MYL) were among the hardest hit by the recent allegations. The potential for greater legal risk could also dampen the outlook on pharma-related ETFs, such as Invesco Dynamic Pharmaceuticals Portfolio ( PJP ) , SPDR Pharmaceuticals ETF ( XPH ) , iShares U.S. Pharmaceuticals ETF ( IHE ) , VanEck Vectors Pharmaceutical ETF ( PPH ) and VanEck Vectors Generic Drugs ETF ( GNRX ) . While some may argue that drug prices are getting out of control, an industry trade group accurately pointed out that generic-drug prices have actually been in decline for years. Furthermore, total generic-drug spending accounts for a fraction of overall drug costs and only amount to a rounding error in the context of total U.S. health spending. Market observes may point out that the loss of industry pricing power was priced into stocks long ago with several drugmaker stocks now more than 70% below their highest close. However, potential value diggers should keep in mind that a finalized verdict or settlement agreements are years away. Under the Affordable Care Act, health insurers are faced with fixed profit margins, so they can make higher overall profits in those programs if health spending rises. Consequently, health-care inflation is no surprise given the current circumstances. Meanwhile, for investors, it means that the system maximizes access to health services without meaningful cost-control tools. Looking ahead, the sector, which has underperformed the S&P 500, will likely continue to fall behind if the risk of disruptions such as legal troubles rises. Story continues For more information on the pharma sector, visit our pharmaceuticals category . POPULAR ARTICLES AND RESOURCES FROM ETFTRENDS.COM SPY ETF Quote VOO ETF Quote QQQ ETF Quote VTI ETF Quote JNUG ETF Quote Top 34 Gold ETFs Top 34 Oil ETFs Top 57 Financials ETFs Bitcoin Tear Continues As BTC Breaches $8,000 New Bitcoin ETF Filed as BTC Price Eyes $8K Beyond Meat Up 5.25% Despite Sea of Red Crytocurrency Devotee Sees Bitcoin Tripling by 2021 Universal Basic Income Would Be a Social and Economic Disaster READ MORE AT ETFTRENDS.COM > || Facebook Hires Two of Coinbase’s Former Compliance Managers: Facebook hired two Coinbase veterans to work in compliance this month, and at least one of them is involved with the social media giant’s blockchain effort. Jeff Cartwright left Coinbase in March after nearly five years at the U.S. cryptocurrency exchange in various compliance roles. He joined Facebook as a policy and compliance manager this month, according to his LinkedIn profile . The profile does not address how involved he will be in Facebook’s blockchain projects, which include a secretive plan to create a price-stable cryptocurrency. Reached by CoinDesk Monday evening, Cartwright said he could not discuss his new role. Facebook spokesperson Elka Looks said the company does not comment on personnel. Coinbase Rolls Out Trading in USDC Stablecoin to 85 Countries Meanwhile, Mikheil Moucharrafie, who left Coinbase in April after more than three years, also joined Facebook this month. He is a compliance officer for blockchain at the social media giant. A lawyer by training, Cartwright joined Coinbase in 2014 after working in compliance roles at American Express and Goldman Sachs and as an anti-money-laundering (AML) consultant at Big Four professional services firm KPMG. He spent the first three years at Coinbase managing the startup’s AML and Bank Secrecy Act (BSA) compliance, was promoted to head of internal audit in March 2017, and then to director of regulatory risk and exams in December of last year. Moucharrafie has a similar pedigree, having worked as an AML/BSA investigator, compliance manager and risk manager during his time at Facebook. Facebook’s coin Coinbase Opens Up XRP Trading for New York Residents The two hires’ legal and regulatory chops may prove valuable to Facebook given the scrutiny its cryptocurrency plans have started to attract in Washington. Last week, the U.S. Senate Banking Committee wrote an open letter to Facebook founder and CEO Mark Zuckerberg, asking him to share details about the cryptocurrency project, with a particular focus on consumer privacy. Story continues Little is known about the crypto initiative, called Libra . The company quietly began building up a blockchain research team last year, headed up by vice president and former Coinbase board member David Marcus. The company has posted numerous job listings for the team since, and notable figures in the space such as crypto economist Christian Catalini , a researcher with MIT, have also joined the project. The company is reportedly looking to raise as much as $1 billion for the project to use as collateral to back a stablecoin. Anna Baydakova contributed reporting. Facebook image via Shutterstock. Related Stories Microsoft Launches Decentralized Identity Tool on Bitcoin Blockchain Slowly But Surely: May Was a Quietly Big Month for Blockchain || Facebook Hires Two of Coinbase’s Former Compliance Managers: Facebook hired two Coinbase veterans to work in compliance this month, and at least one of them is involved with the social media giant’s blockchain effort.
Jeff Cartwright left Coinbase in March after nearly five years at the U.S. cryptocurrency exchange in various compliance roles. He joined Facebook as a policy and compliance manager this month, according to hisLinkedIn profile.
The profile does not address how involved he will be in Facebook’s blockchain projects, which include a secretive plan to create a price-stable cryptocurrency. Reached by CoinDesk Monday evening, Cartwright said he could not discuss his new role. Facebook spokesperson Elka Looks said the company does not comment on personnel.
Coinbase Rolls Out Trading in USDC Stablecoin to 85 Countries
Meanwhile, Mikheil Moucharrafie, who left Coinbase in April after more than three years, also joined Facebook this month. He is acompliance officer for blockchainat the social media giant.
A lawyer by training, Cartwright joined Coinbase in 2014 after working in compliance roles at American Express and Goldman Sachs and as an anti-money-laundering (AML) consultant at Big Four professional services firm KPMG.
He spent the first three years at Coinbase managing the startup’s AML and Bank Secrecy Act (BSA) compliance, was promoted to head of internal audit in March 2017, and then to director of regulatory risk and exams in December of last year.
Moucharrafie has a similar pedigree, having worked as an AML/BSA investigator, compliance manager and risk manager during his time at Facebook.
Coinbase Opens Up XRP Trading for New York Residents
The two hires’ legal and regulatory chops may prove valuable to Facebook given the scrutiny its cryptocurrency plans have started to attract in Washington.
Last week, the U.S. Senate Banking Committee wrote anopen letterto Facebook founder and CEO Mark Zuckerberg, asking him to share details about the cryptocurrency project, with a particular focus on consumer privacy.
Little is known about the crypto initiative, calledLibra. The company quietly began building up a blockchain research team last year,headed upby vice president and former Coinbase board member David Marcus.
The companyhas posted numerous job listingsfor the team since, and notable figures in the space such as crypto economistChristian Catalini, a researcher with MIT, have also joined the project.
The company is reportedly looking toraise as much as $1 billionfor the project to use as collateral to back a stablecoin.
Anna Baydakova contributed reporting.
Facebookimage via Shutterstock.
• Microsoft Launches Decentralized Identity Tool on Bitcoin Blockchain
• Slowly But Surely: May Was a Quietly Big Month for Blockchain || Energy Sector ETFs Strengthen After Attack on Saudi Supply: This article was originally published on ETFTrends.com. Energy sector ETFs were among the best performing areas of the market Tuesday as crude oil prices pushed higher on reports of attacks on major Saudi facilities that fueled concerns over the kingdom's ability to maintain its supply. On Tuesday, the SPDR Oil & Gas Equipment & Services ETF ( XES ) increased 3.5% and VanEck Vectors Oil Service ETF ( OIH ) advanced 3.2% while the Energy Select Sector SPDR ( XLE ) , the largest equity-based energy exchange traded fund, was 1.2% higher. Saudi Arabia, the world's top oil exporter, stated that explosive-packed drones attacked two of Aramco's pumping stations, according to the Associated press. The kingdom revealed drones attacked one of its oil pipelines while other assaults targeted energy infrastructure elsewhere in what it called a cowardly act of terrorism. Energy Minister Khalid al-Falih said that Aramco halted pumps on the East-West pipeline until the damage was assessed but production and exports continued without disruptions, Reuters reports. The supply risks helped push West Texas Intermediate crude oil futures up 1.0% to $61.6 per barrel on Tuesday while Brent crude futures were 1.3% higher to $71.1 per barrel. Volatile prices have remained the theme of todays trading session. Heightened geopolitical tensions in the Middle East and anticipation that the United States and China could still reach an amicable solution to their trade dispute have rendered support to oil prices, Abhishek Kumar, head of analytics at Interfax Energy, told Reuters. Tuesday's incident followed a day after Riyadh stated two of its oil tankers were among the four vessels attacked off the coast of the United Arab Emirates on Sunday. U.S. national security agencies believed proxies sympathetic to or working for Iran may have been responsible for the tanker attacks. Iranian officials denied responsibility. Tehran has been embroiled with the U.S. over stricter sanctions. Story continues With rising tensions between Iran and the U.S., and with significant naval build-up in the region, markets are sensitive to news and can be tipped by the smallest signs of a conflict, Mihir Kapadia, chief executive of Sun Global Investments, told Reuters. What amounts to about a fifth of global oil consumed passes through the Strait of Hormuz from Middle East crude producers to consumers around the world. For more information on the energy sector, visit our energy category . POPULAR ARTICLES AND RESOURCES FROM ETFTRENDS.COM SPY ETF Quote VOO ETF Quote QQQ ETF Quote VTI ETF Quote JNUG ETF Quote Top 34 Gold ETFs Top 34 Oil ETFs Top 57 Financials ETFs Bitcoin Tear Continues As BTC Breaches $8,000 New Bitcoin ETF Filed as BTC Price Eyes $8K Beyond Meat Up 5.25% Despite Sea of Red Crytocurrency Devotee Sees Bitcoin Tripling by 2021 Universal Basic Income Would Be a Social and Economic Disaster READ MORE AT ETFTRENDS.COM > || Energy Sector ETFs Strengthen After Attack on Saudi Supply: This article was originally published onETFTrends.com.
Energy sector ETFs were among the best performing areas of the market Tuesday as crude oil prices pushed higher on reports of attacks on major Saudi facilities that fueled concerns over the kingdom's ability to maintain its supply.
On Tuesday, theSPDR Oil & Gas Equipment & Services ETF (XES) increased 3.5% andVanEck Vectors Oil Service ETF (OIH) advanced 3.2% while theEnergy Select Sector SPDR (XLE) , the largest equity-based energy exchange traded fund, was 1.2% higher.
Saudi Arabia, the world's top oil exporter, stated that explosive-packed drones attacked two of Aramco's pumping stations, according to the Associated press. The kingdom revealed drones attacked one of its oil pipelines while other assaults targeted energy infrastructure elsewhere in what it called a “cowardly” act of terrorism.
Energy Minister Khalid al-Falih said that Aramco halted pumps on the East-West pipeline until the damage was assessed but production and exports continued without disruptions,Reutersreports.
The supply risks helped push West Texas Intermediate crude oil futures up 1.0% to $61.6 per barrel on Tuesday while Brent crude futures were 1.3% higher to $71.1 per barrel.
“Volatile prices have remained the theme of today’s trading session. Heightened geopolitical tensions in the Middle East and anticipation that the United States and China could still reach an amicable solution to their trade dispute have rendered support to oil prices,” Abhishek Kumar, head of analytics at Interfax Energy, told Reuters.
Tuesday's incident followed a day after Riyadh stated two of its oil tankers were among the four vessels attacked off the coast of the United Arab Emirates on Sunday. U.S. national security agencies believed proxies sympathetic to or working for Iran may have been responsible for the tanker attacks. Iranian officials denied responsibility.
Tehran has been embroiled with the U.S. over stricter sanctions.
“With rising tensions between Iran and the U.S., and with significant naval build-up in the region, markets are sensitive to news and can be tipped by the smallest signs of a conflict,” Mihir Kapadia, chief executive of Sun Global Investments, told Reuters.
What amounts to about a fifth of global oil consumed passes through the Strait of Hormuz from Middle East crude producers to consumers around the world.
For more information on the energy sector, visit ourenergy category.
POPULAR ARTICLES AND RESOURCES FROM ETFTRENDS.COM
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READ MORE AT ETFTRENDS.COM > || Bank of France Is Closely Watching Stablecoin Developments, Says Governor: The Bank of France has taken an interest in stablecoins , as indicated by the bank’s governor Francois Villeroy de Galhau in a Bloomberg report on May 14 . Villeroy has said that the bank is “observing with great interest” growing networks that allow members to exchange stablecoins for tokenized securities, goods, and services. He makes a point to distinguish stablecoins from cryptocurrency tokens at large, however, saying that stablecoins “are quite different from speculative assets like bitcoins , and more promising.” Villeroy has been an outspoken critic of bitcoin in particular, notably making the following statement at a 2017 conference in Beijing, China : “We need to be clear: Bitcoin is in no way a currency or even a cryptocurrency. It is a speculative asset. Its value and extreme volatility have no economic basis, and they are nobody’s responsibility. The Bank of France reminds those investing in bitcoin that they do so entirely at their own risk.” Mario Draghi, the President of the European Central Bank (ECB) — of which Villeroy is a governing council member — has recently echoed these sentiments, saying that cryptocurrency is not a currency, but rather a risky asset. Draghi points to the lack of backing for tokens such as bitcoin, rhetorically asking, “Who is behind the cryptocurrencies?” Unlike bitcoin, stablecoins are designed such that their value is always tied directly to some asset, such as gold, or are stabilized by an algorithm. A number of stablecoins have their value pegged to fiat currencies, such as TrustTokens’ line of fiat-backed coins, which include TrueUSD ( U.S. dollars), TrueGBP ( British pounds), TrueAUD ( Australian dollars) and TrueCAD ( Canadian dollars). Related Articles: Reserve CEO Predicts Central Banks Will Tokenize, Still Room for Stablecoins Blockchain Capital Partner Spencer Bogart: Facebook Could Double or Triple Crypto Users Chinese Social Media Giant WeChat Bans Crypto Transactions in Its Payment Policy Bitfinex’s Price for Bitcoin, $300 Higher than Market Rate, Excluded from CoinMarketCap || Bank of France Is Closely Watching Stablecoin Developments, Says Governor: The Bank of France has taken an interest instablecoins, as indicated by the bank’s governor Francois Villeroy de Galhau in aBloombergreporton May 14 .
Villeroy has said that the bank is “observing with great interest” growing networks that allow members to exchange stablecoins for tokenized securities, goods, and services. He makes a point to distinguish stablecoins fromcryptocurrencytokens at large, however, saying that stablecoins “are quite different from speculative assets likebitcoins, and more promising.”
Villeroy has been an outspoken critic of bitcoin in particular, notably making the followingstatementat a 2017 conference in Beijing,China:
“We need to be clear: Bitcoin is in no way a currency or even a cryptocurrency. It is a speculative asset. Its value and extreme volatility have no economic basis, and they are nobody’s responsibility. The Bank of France reminds those investing in bitcoin that they do so entirely at their own risk.”
Mario Draghi, the President of the European Central Bank (ECB) — of whichVilleroyis a governing council member — has recentlyechoedthese sentiments, saying that cryptocurrency is not a currency, but rather a risky asset. Draghi points to the lack of backing for tokens such as bitcoin, rhetorically asking, “Who is behind the cryptocurrencies?”
Unlike bitcoin,stablecoinsare designed such that their value is always tied directly to some asset, such as gold, or are stabilized by an algorithm. A number of stablecoins have their value pegged to fiat currencies, such as TrustTokens’ line of fiat-backed coins, whichincludeTrueUSD (U.S.dollars), TrueGBP (Britishpounds), TrueAUD (Australiandollars) and TrueCAD (Canadiandollars).
• Reserve CEO Predicts Central Banks Will Tokenize, Still Room for Stablecoins
• Blockchain Capital Partner Spencer Bogart: Facebook Could Double or Triple Crypto Users
• Chinese Social Media Giant WeChat Bans Crypto Transactions in Its Payment Policy
• Bitfinex’s Price for Bitcoin, $300 Higher than Market Rate, Excluded from CoinMarketCap || Bitcoin Price Boom Resurrects Once-Feverish Penny Stocks: Bitcoins meteoric price boom has heralded the inglorious return of once-feverish blockchain stocks that had been clobbered by crypto winter. | Source: Shutterstock By CCN : The feverish Bitcoin price rally appears to be spilling over into the stock market, where ice-cold blockchain stocks are once again showing signs of life and investor FOMO. Bloombergs Bailey Lipschultz notes that at least one penny stock has capitalized on the recent Bitcoin bull market. MGT Capital Investments Inc. yep, the one with the John McAfee connection announced its getting back into crypto mining. It has reportedly seen gains around 15% per share as a result of their recent press release , which reads, in part: The recent increase in the price of Bitcoin, without a material increase in the Difficulty Rate, has allowed the Company to resume its mining operations. We also entered into new or amended agreements with our host facilities to provide lower risk and more flexibility. Lastly, we decided to liquidate our first, but small, facility in Washington state to keep focus. Traders Desperately Want Exposure to Bitcoin Gains MGT Capital stock price bitcoin rally MGT Capital stock has made a notable if uneven recovery in 2019. | Source: Yahoo Finance MGT runs a mid-size operation of about 1,800 miners in Colorado. During the Bitcoin boom, they had a market capitalization of more than $300 million, but as the crypto winter lingered on, they had to shut down their mining rigs. The OTC stock trended at over 7 cents per share by press time. Continued booming crypto markets could drive it, and other crypto-related stocks, further north. Lipschultz states that MGT is the first company to capitalize on the current euphoria and suspects that others will follow suit. Lipschultz writes: It remains to be seen how many other penny stocks will incorporate Bitcoin into press releases. They may find it tempting as the biggest cryptocurrency has gained 60% in a more than two-week climb, compared to a bloody stretch for U.S. equity markets that wiped more than 3% from both the S&P 500 Index and the Dow Jones Industrial Average. Read the full story on CCN.com . || Bitcoin Price Boom Resurrects Once-Feverish Penny Stocks: ByCCN: The feverishBitcoin pricerally appears to be spilling over into the stock market, where ice-cold blockchain stocks are once again showing signs of life – and investor FOMO.
Bloomberg’s Bailey Lipschultznotesthat at least one penny stock has capitalized on the recent Bitcoin bull market. MGT Capital Investments Inc. – yep, the one with theJohn McAfee connection– announced it’s getting back into crypto mining. It has reportedly seen gains around 15% per share as a result oftheir recent press release, which reads, in part:
“The recent increase in the price of Bitcoin, without a material increase in the Difficulty Rate, has allowed the Company to resume its mining operations. We also entered into new or amended agreements with our host facilities to provide lower risk and more flexibility. Lastly, we decided to liquidate our first, but small, facility in Washington state to keep focus.”
MGT Capital stock has made a notable – if uneven – recovery in 2019. | Source: Yahoo Finance
MGT runs a mid-size operation of about 1,800 miners in Colorado. During the Bitcoin boom, they had a market capitalization of more than $300 million, but as the crypto winter lingered on, they had to shut down theirminingrigs. The OTC stock trended at over 7 cents per share by press time. Continued booming crypto markets could drive it, and other crypto-related stocks, further north.
Lipschultz states that MGT is the first company to capitalize on the current “euphoria” and suspects that others will follow suit. Lipschultz writes:
“It remains to be seen how many other penny stocks will incorporate ‘Bitcoin’ into press releases. They may find it tempting as the biggest cryptocurrency has gained 60% in a more than two-week climb, compared to a bloody stretch for U.S. equity markets that wiped more than 3% from both the S&P 500 Index and the Dow Jones Industrial Average.” || Bitcoin Price Boom Resurrects Once-Feverish Penny Stocks: ByCCN: The feverishBitcoin pricerally appears to be spilling over into the stock market, where ice-cold blockchain stocks are once again showing signs of life – and investor FOMO.
Bloomberg’s Bailey Lipschultznotesthat at least one penny stock has capitalized on the recent Bitcoin bull market. MGT Capital Investments Inc. – yep, the one with theJohn McAfee connection– announced it’s getting back into crypto mining. It has reportedly seen gains around 15% per share as a result oftheir recent press release, which reads, in part:
“The recent increase in the price of Bitcoin, without a material increase in the Difficulty Rate, has allowed the Company to resume its mining operations. We also entered into new or amended agreements with our host facilities to provide lower risk and more flexibility. Lastly, we decided to liquidate our first, but small, facility in Washington state to keep focus.”
MGT Capital stock has made a notable – if uneven – recovery in 2019. | Source: Yahoo Finance
MGT runs a mid-size operation of about 1,800 miners in Colorado. During the Bitcoin boom, they had a market capitalization of more than $300 million, but as the crypto winter lingered on, they had to shut down theirminingrigs. The OTC stock trended at over 7 cents per share by press time. Continued booming crypto markets could drive it, and other crypto-related stocks, further north.
Lipschultz states that MGT is the first company to capitalize on the current “euphoria” and suspects that others will follow suit. Lipschultz writes:
“It remains to be seen how many other penny stocks will incorporate ‘Bitcoin’ into press releases. They may find it tempting as the biggest cryptocurrency has gained 60% in a more than two-week climb, compared to a bloody stretch for U.S. equity markets that wiped more than 3% from both the S&P 500 Index and the Dow Jones Industrial Average.” || Rapid bitcoin rally cheers crypto market investors, others wary: By Tom Wilson
LONDON (Reuters) - Bitcoin hit its highest level in 10 months on Tuesday, raising hopes among cryptocurrency enthusiasts of greater mainstream acceptance as an escalating U.S.-China trade war roiled global markets, but others urged investor caution.
Bitcoin, which lost three-quarters of its value in 2018, has soared by 24% since Friday and more than doubled in price so far this year. At 1612 GMT it was up 0.8% at 7,874..
There was no obvious reason for the sudden rise with the opacity of cryptocurrency markets rendering it virtually impossible to prove or disprove any theories.
Some traders said investors moved money to bitcoin, treating it as a safe haven as traditional financial markets stumbled on fears that a worsening Sino-U.S. trade dispute could derail the global economy.
But none of the four traders that Reuters spoke to could produce evidence to support that claim.
"Some say buying bitcoin could be a flight to safety for people who view it as a gold-type asset," said Aliya Itzkowitz at crypto research firm Enigma Securities.
"I don't subscribe to that view. I view bitcoin as a high-risk, high-growth asset – a bet on an emerging technology."
Some traders said the prospect of major firms, including Starbucks, to accept digital money were fuelling hopes that bitcoin would gain use among mainstream consumers - something that has previously eluded it.
Others cited reports that Fidelity Investments would soon offer cryptocurrency trading for the rally.
Unexplained price swings have been par for the course during bitcoin's first decade. Just last month, bitcoin had its biggest daily gain for a year, leaving investors puzzling over the cause of the move.
Whatever the reason, price moves of such dramatic scale are a reminder that cryptocurrencies remain a highly speculative market where prices are not linked to factors such as technological development, some industry officials said.
"I don't like to see these price swings. They are not healthy," said Nicholas Gregory of the blockchain company Commerce Block. "Whether that's happening because they believe in the tech, or people hedging - you just don't know".
The lack of transparency in crypto markets could thwart hopes that digital money can progress from speculative tokens to an asset accepted by mainstream investors, some analysts said.
"If most of the regulators and traders themselves are only vaguely aware of what is likely to happen in the next few days or weeks, then clearly the levels of risk associated with investing are very high," said Windsor Holden of Juniper Research, an analysis firm specializing in fintech.
(Reporting by Tom Wilson; editing by Emelia Sithole-Matarise) || Rapid bitcoin rally cheers crypto market investors, others wary: By Tom Wilson LONDON (Reuters) - Bitcoin hit its highest level in 10 months on Tuesday, raising hopes among cryptocurrency enthusiasts of greater mainstream acceptance as an escalating U.S.-China trade war roiled global markets, but others urged investor caution. Bitcoin, which lost three-quarters of its value in 2018, has soared by 24% since Friday and more than doubled in price so far this year. At 1612 GMT it was up 0.8% at 7,874.. There was no obvious reason for the sudden rise with the opacity of cryptocurrency markets rendering it virtually impossible to prove or disprove any theories. Some traders said investors moved money to bitcoin, treating it as a safe haven as traditional financial markets stumbled on fears that a worsening Sino-U.S. trade dispute could derail the global economy. But none of the four traders that Reuters spoke to could produce evidence to support that claim. "Some say buying bitcoin could be a flight to safety for people who view it as a gold-type asset," said Aliya Itzkowitz at crypto research firm Enigma Securities. "I don't subscribe to that view. I view bitcoin as a high-risk, high-growth asset – a bet on an emerging technology." Some traders said the prospect of major firms, including Starbucks, to accept digital money were fuelling hopes that bitcoin would gain use among mainstream consumers - something that has previously eluded it. Others cited reports that Fidelity Investments would soon offer cryptocurrency trading for the rally. Unexplained price swings have been par for the course during bitcoin's first decade. Just last month, bitcoin had its biggest daily gain for a year, leaving investors puzzling over the cause of the move. Whatever the reason, price moves of such dramatic scale are a reminder that cryptocurrencies remain a highly speculative market where prices are not linked to factors such as technological development, some industry officials said. "I don't like to see these price swings. They are not healthy," said Nicholas Gregory of the blockchain company Commerce Block. "Whether that's happening because they believe in the tech, or people hedging - you just don't know". Story continues The lack of transparency in crypto markets could thwart hopes that digital money can progress from speculative tokens to an asset accepted by mainstream investors, some analysts said. "If most of the regulators and traders themselves are only vaguely aware of what is likely to happen in the next few days or weeks, then clearly the levels of risk associated with investing are very high," said Windsor Holden of Juniper Research, an analysis firm specializing in fintech. (Reporting by Tom Wilson; editing by Emelia Sithole-Matarise) || LottoGopher Announces FORK to Develop a Blockchain-Disciplined Payment and Administration Platform for Bravio Technologies' Foreign Lotteries Program: Vancouver, British Columbia--(Newsfile Corp. - May 14, 2019) - LottoGopher Holdings Inc. (CSE: LOTO ) (OTCQB: LTTGF ) (FSE: 2LG ) (" LottoGopher " or the " Company ") is pleased to announce that pursuant to the April 29 th Shareholders Meeting wherein all motions put forth, including the resolution approving the acquisition of Bravio Technologies Inc. (" Bravio "), were approved, Bravio has entered into an exclusive non-binding LOI with Global Blockchain Mining Corp. and Metaverse Capital (" FORK ", " GBCHF "). The engagement permits the parties to approve binding terms (the " Heads of Terms ") and subsequently develop a state-of-the-art, blockchain-disciplined Cryptocurrency Payment and Asset Administration Platform (the " Platform "). The Platform is intended to perform cryptocurrency payment processing and administrative functions for Bravio's end-to-end foreign lotteries program, in which players from anywhere in the world can participate in lottery drawings that are deemed to be attractive based on jackpot size. Provisionally, the Platform will perform functions that include, but are not limited to sales, ticketing, deposits, payments, and rewards as part of Bravio's existing lottery programs. Once enhanced by FORK's blockchain-based Platform, it is intended that, Bravio's lottery ticketing program offers a new breed of domestic and foreign lottery player the option to purchase " original lottery tickets " in the world's most well-known lotteries using cryptocurrencies (e.g. Bitcoin) for payment. Its practices, once deployed, will align directly with those of recognized cryptocurrency exchanges. Bravio's existing lottery programs enable users in its key operating markets the option to participate in multiple foreign lottery draws, including "mega" jackpots such as the PowerBall in the United States and Lotto 6/49 in Canada. Through its arrangement with FORK for use of the Platform, the introduction of fractionalized ticketing is also to be contemplated. By offering fractionalized ticketing (i.e. the option to purchase 10% of a USD $2.00 ticket for USD $0.20) it will allow "affordable" entry for potential lottery players located within emerging or frontier markets, which overcomes this barrier to entry for most other providers in the lottery space. Story continues With a strong presence in the markets of North America, Europe, India, Nepal, Asia Pacific and Australia, Bravio's ecosystem has direct access to more than 260 million mobile phone subscribers through strategic partnerships with cellular network operators. Since 1999, more than three billion lottery plays have been made across Bravio's combined lottery participation programs, making Bravio one of the world's largest international online "real ticketing" lottery companies. By incorporating the Platform into Bravio's lottery program, Bravio will circumnavigate many of its competitors' key barriers to entry, these barriers include but are not limited to security, compliance, consumer acquisition, payment processing, dissemination of funds/winnings, and procedural costs to enter a foreign lottery. Lottery jackpots, particularly in the United States, have gained considerable worldwide attention in recent years. The drawings for the US Mega Millions lottery in 2018 were widely covered by media outlets as the jackpot accumulated to more than US $1.5 billion in total value. This attention has been sustained for several years in light of other substantial jackpots, with the five largest lottery jackpots of all time having been won in the past four years, including the 2016 Powerball jackpot, which was the largest in the world's history at US $1.586 billion. Inevitably, interest from foreign players in participating in these lotteries has only grown, forming a need for solutions such as those offered by Bravio. With blockchain and cryptocurrencies having ideal use cases in the digital betting sector, FORK's development of the Platform represents its second stake in this vertical, following the announcement of its initial exchange offering administration agreement with sports betting platform MeVu (http://mevu.bet) last week for MeVu's proprietary crypto asset MVU. The integration of blockchain technology into Bravio's lottery platform instantly adds a supreme level of security and transparency. Also offering a decentralized cryptocurrency payment gateway, the Platform will realize the full potential of Bravio's multi-tenanted lottery ticketing system, and offer a more practical entry point for new potential lottery players throughout the markets in which Bravio operates. Both parties believe that the use of the Platform stands to create significant value for FORK and Bravio shareholders alike. Presently, FORK anticipates it will retain around 40% of transaction fees collected by the proposed lottery ticketing Platform in connection with Bravio's lottery program offerings. Notably, the Platform will allow Bravio to accept payments made through Bitcoin's Lightning network, allowing micro-payments for fractional lottery interest purchases to be made with inexpensive transaction fees, and low processing times compared to traditional Bitcoin transactions. As of this writing, approximately 1,000 BTC are locked into the Lightning network [[1]]. Based on an extrapolation of Bravio's transaction data. The parties anticipate the Platform will facilitate approximately twenty times this amount (i.e. 20,000 BTC) in annual transaction volume from Bravio's lottery ticketing sales. Moreover, based on recent trading activity, overall market confidence in Bitcoin appears to have improved considerably. With BTC having started the month of May 2019 at under USD $5,400, the price has steadily risen, staying consistently above USD $6,000 on Thursday, May 9, 2019, and consistently above USD $7,000 on Monday, May 13, 2019, even surpassing USD $7,800 at one point [[2]]. With a sustained higher price of Bitcoin, it can be concluded that the markets have not given up on this crypto asset, and it continues to be used for facilitating value transactions on the Internet. At the outset, the Platform will enable Bravio to accept payments in Bitcoin (BTC), NUVO (NUVO), and MeVu (MVU). FORK anticipates that the Platform, a layer two payment gateway, will be available for all interested merchants in late Q3 2019. The Platform will be branded as part of FORK's Singularity division. FORK President and CEO Shidan Gouran commented, "Crypto and blockchain alike have the ability to break down barriers when it comes to bringing opportunities to new places. From the very beginning of cryptocurrencies with Bitcoin, a borderless banking ecosystem was created, which had positive implications for many industries, especially ones in which privacy and cross-border restrictions matter significantly. Bravio has seen great results so far for allowing users in multiple jurisdictions worldwide to participate in foreign lotteries. However, this is only a fraction of the results Bravio could be seeing by accepting cryptocurrencies as a payment for entry into the world's most attractive lotteries. We look forward to seeing the difference that the use of the Platform will make, as we avail the massive lottery jackpots in the Americas to players from around the world using crypto." Bravio CEO Paul Carroll added, "Pairing the use of FORK's Platform built on ultra-reliable blockchain technology, and allowing a decentralized system of payment such as cryptocurrencies allows Bravio to potentially engage a whole new style and demographic of lottery player. Our aim is to offer global participants the option to use cryptocurrency to purchase original lottery tickets in most of the world's best-known lotteries." Mr. Carroll further added, "In the developed world we have the opportunity to win millions of dollars most days of the week, for which we can purchase tickets relatively easy. It comes as no surprise that potential lottery players located in emerging markets, such as India, Africa and Nepal are curious about accessing and participating in these global lotteries. Over the past eighteen months, providing an answer to that curiosity has proven popular for Bravio. After speaking with the team at FORK, a decision to pursue a partnership with them was a simple decision to make. Shidan and his team possess such depth and digital knowledge. Moreover, they're specifically focused on blockchain technology and are experienced in commercializing existing ecosystems by using multiple cryptocurrencies. We believe that together, we will dramatically enhance the potential of our existing lotto ticketing systems, penetrate new untapped markets, and by adding a payment gateway for cryptocurrencies, we will add immense value for our shareholders. The platform we aim to integrate into our lottery program is currently being developed by FORK." The LottoGopher - Bravio RTO April 29th, Shareholders Meeting. All motions put forth including the resolution approving the acquisition of Bravio Technologies (the " RTO Transaction ") where approved as more particularly described in the Company's management circular dated 3rd April 2019, a copy of which is available under LottoGopher's profile on SEDAR at www.sedar.com The Company wishes to thank its shareholders for its support and anticipates that the RTO Transaction with Bravio will be completed within the coming weeks. The Company also intends to update the market with a combined business overview and timeline accordingly. Global Blockchain Mining Corp: With blockchain technology rapidly re-shaping the models of many companies, industries, and their business processes, Global Blockchain Mining Corp. ("FORK") places a focus on the common needs of early-stage blockchain adopters. Originally founded with a focus on crypto-mining, FORK has recently diversified its offerings by placing an emphasis on professional services such as developing and administering launches of tokens and digital assets. Adapting to changes in blockchain technology, FORK is also now utilizing its computing power to provide consensus services, such as the operation of masternodes, servicenodes, and witnesses which are alternative methods to cryptocurrency mining for generating and acquiring digital assets. Investors, through their investment in the Company, are provided with exposure to these tokens, cryptocurrencies and digital assets without the lengthy, and complicated process that interested investors must undergo in order to gain exposure to these cryptocurrencies and digital assets. The Company is listed on the Canadian Securities Exchange (" CSE ") and its common shares trade under the ticker symbol " FORK ". Additional information relating to the Company is available on SEDAR at www.sedar.com, the CSE at www.theCSE.com as well as on the Company's website at: www.forkcse.com [[1]] Source: https://bitcoinist.com/bitcoin-lightning-network-1k-btc-capacity/ [[2]] Source: https://coinmarketcap.com/currencies/bitcoin/ About LottoGopher : LottoGopher Holdings owns and operates websites including LottoGopher.com and FreeLotto.com. LottoGopher.com is a lottery messenger service that allows users to easily order and manage their state lottery tickets online using a debit or credit card. By allowing individuals to choose their numbers and safely order tickets for the official lottery drawings in California, LottoGopher makes it simple for users to keep track of their tickets and winnings. LottoGopher Holdings also owns and operates the FreeLotto.com sweepstakes, online marketing and free member acquisition website. FreeLotto.com has attracted over 65 million members to date and has awarded nearly $100 million in prize money. Since its inception in 1999, FreeLotto members have played over 3.7 billion games. Currently, the FreeLotto website attracts over 7.3 million unique visitors per month and produces over 20,000 small prize winners per month. A global online database company, FreeLotto is a proven direct marketing model that offers free membership and a subscription service for its daily sweepstakes games. On behalf of the Board of LottoGopher Holdings Inc. Edward J. Tobin Director & Interim CEO Contact Us: Investor Inquiries ir@lottogopher.com Media Inquires 866-LOTTO-GO Forward-Looking Statement This news release contains statements and information that, to the extent that they are not historical fact, constitute "forward-looking information" within the meaning of applicable securities legislation. Forward-looking information may include financial and other projections, statements regarding expansion plans, as well as statements regarding future plans, objectives or economic performance, or the assumption underlying any of the foregoing. Statements in this news release relating to the Company's proposed change of business are forward-looking information. Forward-looking information is based on the reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information. In respect of the Company's plans to pursue a change of business, risks would include the ability of the Company to obtain additional financing on acceptable terms. Accordingly, readers should not place undue reliance on any such forward-looking information. Further, any forward- looking statement speaks only as of the date on which such statement is made. New factors emerge from time to time, and it is not possible for the Company's management to predict all of such factors and to assess in advance the impact of each such factor on the Company's business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. The Company does not undertake any obligation to update any forward-looking information to reflect information, events, results, circumstances or otherwise after the date hereof or to reflect the occurrence of unanticipated events, except as required by law including securities laws. The CSE has in no way passed upon the merits of the Transaction and has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release. Corporate Logo To view the source version of this press release, please visit https://www.newsfilecorp.com/release/44785 || LottoGopher Announces FORK to Develop a Blockchain-Disciplined Payment and Administration Platform for Bravio Technologies' Foreign Lotteries Program: Vancouver, British Columbia--(Newsfile Corp. - May 14, 2019) - LottoGopher Holdings Inc. (CSE:LOTO) (OTCQB:LTTGF) (FSE:2LG) ("LottoGopher" or the "Company") is pleased to announce that pursuant to the April 29thShareholders Meeting wherein all motions put forth, including the resolution approving the acquisition of Bravio Technologies Inc. ("Bravio"), were approved, Bravio has entered into an exclusive non-binding LOI with Global Blockchain Mining Corp. and Metaverse Capital ("FORK", "GBCHF").
The engagement permits the parties to approve binding terms (the "Heads of Terms") and subsequently develop a state-of-the-art, blockchain-disciplined Cryptocurrency Payment and Asset Administration Platform (the "Platform").
The Platform is intended to perform cryptocurrency payment processing and administrative functions for Bravio's end-to-end foreign lotteries program, in which players from anywhere in the world can participate in lottery drawings that are deemed to be attractive based on jackpot size. Provisionally, the Platform will perform functions that include, but are not limited to sales, ticketing, deposits, payments, and rewards as part of Bravio's existing lottery programs.
Once enhanced by FORK's blockchain-based Platform, it is intended that, Bravio's lottery ticketing program offers a new breed of domestic and foreign lottery player the option to purchase "original lottery tickets" in the world's most well-known lotteries using cryptocurrencies (e.g. Bitcoin) for payment.
Its practices, once deployed, will align directly with those of recognized cryptocurrency exchanges.
Bravio's existing lottery programs enable users in its key operating markets the option to participate in multiple foreign lottery draws, including "mega" jackpots such as the PowerBall in the United States and Lotto 6/49 in Canada. Through its arrangement with FORK for use of the Platform, the introduction of fractionalized ticketing is also to be contemplated. By offering fractionalized ticketing (i.e. the option to purchase 10% of a USD $2.00 ticket for USD $0.20) it will allow "affordable" entry for potential lottery players located within emerging or frontier markets, which overcomes this barrier to entry for most other providers in the lottery space.
With a strong presence in the markets of North America, Europe, India, Nepal, Asia Pacific and Australia, Bravio's ecosystem has direct access to more than 260 million mobile phone subscribers through strategic partnerships with cellular network operators. Since 1999, more than three billion lottery plays have been made across Bravio's combined lottery participation programs, making Bravio one of the world's largest international online "real ticketing" lottery companies.
By incorporating the Platform into Bravio's lottery program, Bravio will circumnavigate many of its competitors' key barriers to entry, these barriers include but are not limited to security, compliance, consumer acquisition, payment processing, dissemination of funds/winnings, and procedural costs to enter a foreign lottery.
Lottery jackpots, particularly in the United States, have gained considerable worldwide attention in recent years. The drawings for the US Mega Millions lottery in 2018 were widely covered by media outlets as the jackpot accumulated to more than US $1.5 billion in total value. This attention has been sustained for several years in light of other substantial jackpots, with the five largest lottery jackpots of all time having been won in the past four years, including the 2016 Powerball jackpot, which was the largest in the world's history at US $1.586 billion. Inevitably, interest from foreign players in participating in these lotteries has only grown, forming a need for solutions such as those offered by Bravio.
With blockchain and cryptocurrencies having ideal use cases in the digital betting sector, FORK's development of the Platform represents its second stake in this vertical, following the announcement of its initial exchange offering administration agreement with sports betting platform MeVu (http://mevu.bet) last week for MeVu's proprietary crypto asset MVU.
The integration of blockchain technology into Bravio's lottery platform instantly adds a supreme level of security and transparency. Also offering a decentralized cryptocurrency payment gateway, the Platform will realize the full potential of Bravio's multi-tenanted lottery ticketing system, and offer a more practical entry point for new potential lottery players throughout the markets in which Bravio operates.
Both parties believe that the use of the Platform stands to create significant value for FORK and Bravio shareholders alike. Presently, FORK anticipates it will retain around 40% of transaction fees collected by the proposed lottery ticketing Platform in connection with Bravio's lottery program offerings.
Notably, the Platform will allow Bravio to accept payments made through Bitcoin's Lightning network, allowing micro-payments for fractional lottery interest purchases to be made with inexpensive transaction fees, and low processing times compared to traditional Bitcoin transactions. As of this writing, approximately 1,000 BTC are locked into the Lightning network [[1]]. Based on an extrapolation of Bravio's transaction data. The parties anticipate the Platform will facilitate approximately twenty times this amount (i.e. 20,000 BTC) in annual transaction volume from Bravio's lottery ticketing sales.
Moreover, based on recent trading activity, overall market confidence in Bitcoin appears to have improved considerably. With BTC having started the month of May 2019 at under USD $5,400, the price has steadily risen, staying consistently above USD $6,000 on Thursday, May 9, 2019, and consistently above USD $7,000 on Monday, May 13, 2019, even surpassing USD $7,800 at one point [[2]]. With a sustained higher price of Bitcoin, it can be concluded that the markets have not given up on this crypto asset, and it continues to be used for facilitating value transactions on the Internet.
At the outset, the Platform will enable Bravio to accept payments in Bitcoin (BTC), NUVO (NUVO), and MeVu (MVU). FORK anticipates that the Platform, a layer two payment gateway, will be available for all interested merchants in late Q3 2019. The Platform will be branded as part of FORK's Singularity division.
FORK President and CEO Shidan Gouran commented, "Crypto and blockchain alike have the ability to break down barriers when it comes to bringing opportunities to new places. From the very beginning of cryptocurrencies with Bitcoin, a borderless banking ecosystem was created, which had positive implications for many industries, especially ones in which privacy and cross-border restrictions matter significantly. Bravio has seen great results so far for allowing users in multiple jurisdictions worldwide to participate in foreign lotteries. However, this is only a fraction of the results Bravio could be seeing by accepting cryptocurrencies as a payment for entry into the world's most attractive lotteries. We look forward to seeing the difference that the use of the Platform will make, as we avail the massive lottery jackpots in the Americas to players from around the world using crypto."
Bravio CEO Paul Carroll added, "Pairing the use of FORK's Platform built on ultra-reliable blockchain technology, and allowing a decentralized system of payment such as cryptocurrencies allows Bravio to potentially engage a whole new style and demographic of lottery player. Our aim is to offer global participants the option to use cryptocurrency to purchase original lottery tickets in most of the world's best-known lotteries."
Mr. Carroll further added, "In the developed world we have the opportunity to win millions of dollars most days of the week, for which we can purchase tickets relatively easy. It comes as no surprise that potential lottery players located in emerging markets, such as India, Africa and Nepal are curious about accessing and participating in these global lotteries. Over the past eighteen months, providing an answer to that curiosity has proven popular for Bravio. After speaking with the team at FORK, a decision to pursue a partnership with them was a simple decision to make. Shidan and his team possess such depth and digital knowledge. Moreover, they're specifically focused on blockchain technology and are experienced in commercializing existing ecosystems by using multiple cryptocurrencies. We believe that together, we will dramatically enhance the potential of our existing lotto ticketing systems, penetrate new untapped markets, and by adding a payment gateway for cryptocurrencies, we will add immense value for our shareholders. The platform we aim to integrate into our lottery program is currently being developed by FORK."
The LottoGopher - Bravio RTO
April 29th, Shareholders Meeting. All motions put forth including the resolution approving the acquisition of Bravio Technologies (the "RTO Transaction") where approved as more particularly described in the Company's management circular dated 3rd April 2019, a copy of which is available under LottoGopher's profile on SEDAR atwww.sedar.com
The Company wishes to thank its shareholders for its support and anticipates that the RTO Transaction with Bravio will be completed within the coming weeks. The Company also intends to update the market with a combined business overview and timeline accordingly.
Global Blockchain Mining Corp:
With blockchain technology rapidly re-shaping the models of many companies, industries, and their business processes, Global Blockchain Mining Corp. ("FORK") places a focus on the common needs of early-stage blockchain adopters. Originally founded with a focus on crypto-mining, FORK has recently diversified its offerings by placing an emphasis on professional services such as developing and administering launches of tokens and digital assets. Adapting to changes in blockchain technology, FORK is also now utilizing its computing power to provide consensus services, such as the operation of masternodes, servicenodes, and witnesses which are alternative methods to cryptocurrency mining for generating and acquiring digital assets. Investors, through their investment in the Company, are provided with exposure to these tokens, cryptocurrencies and digital assets without the lengthy, and complicated process that interested investors must undergo in order to gain exposure to these cryptocurrencies and digital assets.
The Company is listed on the Canadian Securities Exchange ("CSE") and its common shares trade under the ticker symbol "FORK". Additional information relating to the Company is available on SEDAR atwww.sedar.com,the CSE atwww.theCSE.comas well as on the Company's website at:www.forkcse.com
[[1]] Source:https://bitcoinist.com/bitcoin-lightning-network-1k-btc-capacity/
[[2]] Source:https://coinmarketcap.com/currencies/bitcoin/
About LottoGopher:
LottoGopher Holdings owns and operates websites including LottoGopher.com and FreeLotto.com. LottoGopher.com is a lottery messenger service that allows users to easily order and manage their state lottery tickets online using a debit or credit card. By allowing individuals to choose their numbers and safely order tickets for the official lottery drawings in California, LottoGopher makes it simple for users to keep track of their tickets and winnings. LottoGopher Holdings also owns and operates the FreeLotto.com sweepstakes, online marketing and free member acquisition website. FreeLotto.com has attracted over 65 million members to date and has awarded nearly $100 million in prize money. Since its inception in 1999, FreeLotto members have played over 3.7 billion games. Currently, the FreeLotto website attracts over 7.3 million unique visitors per month and produces over 20,000 small prize winners per month. A global online database company, FreeLotto is a proven direct marketing model that offers free membership and a subscription service for its daily sweepstakes games.
On behalf of the Board of LottoGopher Holdings Inc.
Edward J. TobinDirector & Interim CEO
Contact Us:Investor Inquiriesir@lottogopher.com
Media Inquires866-LOTTO-GO
Forward-Looking Statement
This news release contains statements and information that, to the extent that they are not historical fact, constitute "forward-looking information" within the meaning of applicable securities legislation. Forward-looking information may include financial and other projections, statements regarding expansion plans, as well as statements regarding future plans, objectives or economic performance, or the assumption underlying any of the foregoing. Statements in this news release relating to the Company's proposed change of business are forward-looking information. Forward-looking information is based on the reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect.
Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information. In respect of the Company's plans to pursue a change of business, risks would include the ability of the Company to obtain additional financing on acceptable terms. Accordingly, readers should not place undue reliance on any such forward-looking information. Further, any forward- looking statement speaks only as of the date on which such statement is made. New factors emerge from time to time, and it is not possible for the Company's management to predict all of such factors and to assess in advance the impact of each such factor on the Company's business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. The Company does not undertake any obligation to update any forward-looking information to reflect information, events, results, circumstances or otherwise after the date hereof or to reflect the occurrence of unanticipated events, except as required by law including securities laws.
The CSE has in no way passed upon the merits of the Transaction and has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visithttps://www.newsfilecorp.com/release/44785 || Here's What Happened Last Time Bitcoin Approached $10,000: After a brutal price crash in 2018 dropped bitcoin prices from near $20,000 to below $3,400, bitcoin has come roaring back so far in 2019. Prices are up 112 percent year-to-date to above $8,000 for the first time in exactly a year, and bitcoin bulls hope the $10,000 level is coming in the near future.
Bitcoin has a long history of volatile price spikes such as the one the market has experienced so far this year. Unfortunately, those spikes tend to be short-lived.
History Lesson
Bitcoin prices have only been above $10,000 two other times. Bitcoin first hit the $10,000 level during the historic surge in November 2017. In that instance, bitcoin prices ripped through $10,000 and hit its all-time high of $19,783 within roughly a month’s time.
Roughly six weeks later, bitcoin prices were back below $8,200 by the end of January 2018. Bitcoin prices them bounced back above $10,000 by the second week of February 2018. Once again, the rally was short-lived and bitcoin dipped back below $10,000 by the first week of March. In the 14 months since, bitcoin has not regained the $10,000 level.
Bitcoin made a third attempt at breaching $10,000 in April 2018, but the rally was stopped short after prices peaked at $9,593.
The latest rally is the first real signs of technical life from bitcoin since its previous run to $19,783 back in 2017. Bitcoin broke above its 200-day simple moving average in April for the first time in nearly a year. It also made it above its August 2018 peak of $7,362, breaking a string of lower and lower peaks.
How To Play It
If history is any indication, bitcoin traders should be looking for signs of a near-term top, potentially at July 2018 highs of around $8,200 or near the psychological $10,000 level. Bitcoin’s relative strength index is at 89.6, its highest level since mid-2017. An RSI that high suggests the popular cryptocurrency is extremely overbought in the near term.
If bitcoin does rally above $8,000 and even above $10,000, history suggests traders should be ready to take profits in the volatile cryptocurrency, and the rally likely won’t last for long.
Traders looking to take advantage of the volatility in bitcoin prices can trade theGrayscale Bitcoin Trust (Btc)(OTC:GBTC). The GBTC fund is already up 174.1 percent year-to-date.
The price of bitcoin traded at $7,998 at time of publication, according to CoinMarketCap.
Related Links:
Bitcoin And Ethereum Now Accepted At Whole Foods, Nordstrom And Other Retailers
Japan Is Getting Serious About Cryptocurrency
See more from Benzinga
• Bitcoin And Ethereum Now Accepted At Whole Foods, Nordstrom And Other Retailers
• Is Bitcoin Back? A Few Technical Signals To Consider
• Tim Draper Meeting With Facebook To Discuss Cryptocurrency Investment
© 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Here's What Happened Last Time Bitcoin Approached $10,000: After a brutal price crash in 2018 dropped bitcoin prices from near $20,000 to below $3,400, bitcoin has come roaring back so far in 2019. Prices are up 112 percent year-to-date to above $8,000 for the first time in exactly a year, and bitcoin bulls hope the $10,000 level is coming in the near future. Bitcoin has a long history of volatile price spikes such as the one the market has experienced so far this year. Unfortunately, those spikes tend to be short-lived. History Lesson Bitcoin prices have only been above $10,000 two other times. Bitcoin first hit the $10,000 level during the historic surge in November 2017. In that instance, bitcoin prices ripped through $10,000 and hit its all-time high of $19,783 within roughly a month’s time. Roughly six weeks later, bitcoin prices were back below $8,200 by the end of January 2018. Bitcoin prices them bounced back above $10,000 by the second week of February 2018. Once again, the rally was short-lived and bitcoin dipped back below $10,000 by the first week of March. In the 14 months since, bitcoin has not regained the $10,000 level. Bitcoin made a third attempt at breaching $10,000 in April 2018, but the rally was stopped short after prices peaked at $9,593. The latest rally is the first real signs of technical life from bitcoin since its previous run to $19,783 back in 2017. Bitcoin broke above its 200-day simple moving average in April for the first time in nearly a year. It also made it above its August 2018 peak of $7,362, breaking a string of lower and lower peaks. How To Play It If history is any indication, bitcoin traders should be looking for signs of a near-term top, potentially at July 2018 highs of around $8,200 or near the psychological $10,000 level. Bitcoin’s relative strength index is at 89.6, its highest level since mid-2017. An RSI that high suggests the popular cryptocurrency is extremely overbought in the near term. If bitcoin does rally above $8,000 and even above $10,000, history suggests traders should be ready to take profits in the volatile cryptocurrency, and the rally likely won’t last for long. Story continues Traders looking to take advantage of the volatility in bitcoin prices can trade the Grayscale Bitcoin Trust (Btc) (OTC: GBTC ). The GBTC fund is already up 174.1 percent year-to-date. The price of bitcoin traded at $7,998 at time of publication, according to CoinMarketCap. Related Links: Bitcoin And Ethereum Now Accepted At Whole Foods, Nordstrom And Other Retailers Japan Is Getting Serious About Cryptocurrency See more from Benzinga Bitcoin And Ethereum Now Accepted At Whole Foods, Nordstrom And Other Retailers Is Bitcoin Back? A Few Technical Signals To Consider Tim Draper Meeting With Facebook To Discuss Cryptocurrency Investment © 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Here's What Happened Last Time Bitcoin Approached $10,000: After a brutal price crash in 2018 dropped bitcoin prices from near $20,000 to below $3,400, bitcoin has come roaring back so far in 2019. Prices are up 112 percent year-to-date to above $8,000 for the first time in exactly a year, and bitcoin bulls hope the $10,000 level is coming in the near future.
Bitcoin has a long history of volatile price spikes such as the one the market has experienced so far this year. Unfortunately, those spikes tend to be short-lived.
History Lesson
Bitcoin prices have only been above $10,000 two other times. Bitcoin first hit the $10,000 level during the historic surge in November 2017. In that instance, bitcoin prices ripped through $10,000 and hit its all-time high of $19,783 within roughly a month’s time.
Roughly six weeks later, bitcoin prices were back below $8,200 by the end of January 2018. Bitcoin prices them bounced back above $10,000 by the second week of February 2018. Once again, the rally was short-lived and bitcoin dipped back below $10,000 by the first week of March. In the 14 months since, bitcoin has not regained the $10,000 level.
Bitcoin made a third attempt at breaching $10,000 in April 2018, but the rally was stopped short after prices peaked at $9,593.
The latest rally is the first real signs of technical life from bitcoin since its previous run to $19,783 back in 2017. Bitcoin broke above its 200-day simple moving average in April for the first time in nearly a year. It also made it above its August 2018 peak of $7,362, breaking a string of lower and lower peaks.
How To Play It
If history is any indication, bitcoin traders should be looking for signs of a near-term top, potentially at July 2018 highs of around $8,200 or near the psychological $10,000 level. Bitcoin’s relative strength index is at 89.6, its highest level since mid-2017. An RSI that high suggests the popular cryptocurrency is extremely overbought in the near term.
If bitcoin does rally above $8,000 and even above $10,000, history suggests traders should be ready to take profits in the volatile cryptocurrency, and the rally likely won’t last for long.
Traders looking to take advantage of the volatility in bitcoin prices can trade theGrayscale Bitcoin Trust (Btc)(OTC:GBTC). The GBTC fund is already up 174.1 percent year-to-date.
The price of bitcoin traded at $7,998 at time of publication, according to CoinMarketCap.
Related Links:
Bitcoin And Ethereum Now Accepted At Whole Foods, Nordstrom And Other Retailers
Japan Is Getting Serious About Cryptocurrency
See more from Benzinga
• Bitcoin And Ethereum Now Accepted At Whole Foods, Nordstrom And Other Retailers
• Is Bitcoin Back? A Few Technical Signals To Consider
• Tim Draper Meeting With Facebook To Discuss Cryptocurrency Investment
© 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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7884.91, 7343.90, 7271.21, 8197.69, 7978.31, 7963.33, 7680.07, 7881.85, 7987.37, 8052.54
|
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 44695.36, 44801.19, 46717.58, 49339.18, 48905.49, 49321.65, 49546.15, 47706.12, 48960.79, 46942.22, 49058.67, 48902.40, 48829.83, 47054.98, 47166.69, 48847.03, 49327.72, 50025.38, 49944.62, 51753.41, 52633.54, 46811.13, 46091.39, 46391.42, 44883.91, 45201.46, 46063.27, 44963.07, 47092.49, 48176.35, 47783.36, 47267.52, 48278.36, 47260.22, 42843.80, 40693.68, 43574.51, 44895.10, 42839.75, 42716.59, 43208.54, 42235.73, 41034.54, 41564.36, 43790.89, 48116.94, 47711.49, 48199.95, 49112.90, 51514.81, 55361.45, 53805.98, 53967.85, 54968.22, 54771.58, 57484.79, 56041.06, 57401.10, 57321.52, 61593.95, 60892.18, 61553.62, 62026.08, 64261.99, 65992.84, 62210.17, 60692.27, 61393.62, 60930.84, 63039.82, 60363.79, 58482.39, 60622.14, 62227.96, 61888.83, 61318.96, 61004.41, 63226.40, 62970.05, 61452.23, 61125.68, 61527.48, 63326.99, 67566.83, 66971.83, 64995.23, 64949.96, 64155.94, 64469.53, 65466.84.
|
[Bitcoin Technical Analysis for 2021-11-14]
Volume: 25122092191, RSI (14-day): 60.25, 50-day EMA: 58873.07, 200-day EMA: 48570.27
[Wider Market Context]
None available.
[Recent News (last 7 days)]
India eyes prohibiting irresponsible crypto ads: The Indian government “strongly feels” that advertisements by cryptocurrency exchanges that promise customers wild profits and are not transparent about the volatile nature of such trading must be prohibited, according to a memo outlining the summary of a meeting between the Indian Prime Minister Narendra Modi and several stakeholders on Saturday. A consensus has been reached by several stakeholders including New Delhi that irresponsible advertisements are misleading youths in the nation and must be stopped, according to the memo, which was shared with reporters. In recent weeks, leading cryptocurrency exchanges including Andreessen Horowitz-backed CoinSwitch Kuber and B Capital Group-backed CoinDCX have launched ads that many individuals have deemed highly irresponsible. Indian crypto exchanges have been very irresponsible in making absurd and outright false claims in their relentless ads. This nascent industry should be careful not to discredit themselves in the eyes of regulators in particular. https://t.co/ae482BV1pb — Rajeev Mantri (@RMantri) November 11, 2021 https://platform.twitter.com/widgets.js These cryptocurrency ads during cricket matches are very well targeted, indeed. But the idea of making crypto look easy and safe is scary! Esp. if you don’t understand it. If you get it, great. If you don’t, it’s easy to slip into FOMO. Be careful with your investments, folks! — Praval Singh (@Praval) November 7, 2021 https://platform.twitter.com/widgets.js With all the hype around crypto ads yesterday, I was made aware that many founders/independent operators working in the space have now shifted base to Dubai with frequent travel to India. Also, the local govt’s policy towards crypto is a big factor behind people immigrating there — Sehaj Singh (@sehaj23) October 25, 2021 https://platform.twitter.com/widgets.js Story continues I am watching #T20WorldCup2021 on HotStar, and crypto universe has taken over nearly all ad spots. Your POV: — Vijay Shekhar Sharma (@vijayshekhar) October 24, 2021 https://platform.twitter.com/widgets.js Lawmakers in India, where currently there isn't an official framework to oversee cryptocurrency and their trading, have held conversations with several stakeholders in recent quarters to formulate a path forward for the industry. The move comes as an increasingly growing number of Indians are beginning to buy Bitcoin and other cryptocurrencies for the first time in their lives. Several Bollywood stars including legendary Amitabh Bachchan and Ranveer Singh, who has starred in several of the country's biggest blockbusters, have promoted cryptocurrency trading in recent weeks. On their part, CoinSwitch Kuber and CoinDCX have started podcasts and other collaborations with industry players to offer content that help youngsters make informed investment decisions. Lawmakers in India have also expressed concerns around potential misuse of using crypto trading vehicle for laundering money and financing terrorism efforts. To curb this, the government officials have indicated that they may require crypto exchanges to perform a full KYC of their customers. Most cryptocurrency exchanges have preemptively complied with this suggestion and some have prohibited users from moving their tokens and coins to private wallets or other exchanges. But that might be the extent to which the Indian government plans to get involved with cryptocurrency at least in the immediate future. One high-profile politician indicated to an industry executive earlier this month that the country will come up with laws that welcome innovation around blockchain technology and is open to foreign investment into local projects, a person directly familiar with the matter told TechCrunch. The government's conviction about such a potential move has grown stronger in the wake of the Chinese government cracking down on cryptocurrency transactions , the person said, requesting anonymity as the matter is private. In the Saturday memo, it was relayed that the government is "cognizant of the fact that [blockchain] is an evolving technology hence the government will keep a close watch and take proactive steps." || India eyes prohibiting irresponsible crypto ads: The Indian government “strongly feels” that advertisements by cryptocurrency exchanges that promise customers wild profits and are not transparent about the volatile nature of such trading must be prohibited, according to a memo outlining the summary of a meeting between the Indian Prime Minister Narendra Modi and several stakeholders on Saturday.
A consensus has been reached by several stakeholders including New Delhi that irresponsible advertisements are misleading youths in the nation and must be stopped, according to the memo, which was shared with reporters.
In recent weeks, leading cryptocurrency exchanges includingAndreessen Horowitz-backed CoinSwitch Kuberand B Capital Group-backed CoinDCX have launched ads that many individuals have deemed highly irresponsible.
https://platform.twitter.com/widgets.js
https://platform.twitter.com/widgets.js
https://platform.twitter.com/widgets.js
https://platform.twitter.com/widgets.js
Lawmakers in India, where currently there isn't an official framework to oversee cryptocurrency and their trading, have held conversations with several stakeholders in recent quarters to formulate a path forward for the industry.
The move comes as an increasingly growing number of Indians are beginning to buy Bitcoin and other cryptocurrencies for the first time in their lives. Several Bollywood stars including legendary Amitabh Bachchan and Ranveer Singh, who has starred in several of the country's biggest blockbusters, have promoted cryptocurrency trading in recent weeks.
On their part, CoinSwitch Kuber and CoinDCX have started podcasts and other collaborations with industry players to offer content that help youngsters make informed investment decisions.
Lawmakers in India have also expressed concerns around potential misuse of using crypto trading vehicle for laundering money and financing terrorism efforts.
To curb this, the government officials have indicated that they may require crypto exchanges to perform a full KYC of their customers. Most cryptocurrency exchanges have preemptively complied with this suggestion and some have prohibited users from moving their tokens and coins to private wallets or other exchanges.
But that might be the extent to which the Indian government plans to get involved with cryptocurrency at least in the immediate future.
One high-profile politician indicated to an industry executive earlier this month that the country will come up with laws that welcome innovation around blockchain technology and is open to foreign investment into local projects, a person directly familiar with the matter told TechCrunch.
The government's conviction about such a potential move has grown stronger in the wake of the Chinese governmentcracking down on cryptocurrency transactions, the person said, requesting anonymity as the matter is private.
In the Saturday memo, it was relayed that the government is "cognizant of the fact that [blockchain] is an evolving technology hence the government will keep a close watch and take proactive steps." || Indian National Congress Accuses Modi-Led BJP of Covering Up Country’s Biggest Bitcoin Scam: Bitcoin is about to become an even more popular topic in India, with the country’s leading political parties at loggerheads over a multimillion-dollar scam involving the top cryptocurrency in the southern state of Karnataka.
On Saturday, Randeep Singh Surjewala, a spokesperson of the Indian National Congress (INC), the main opposition party, accused the Bhartiya Janta Party (BJP) government of Karnataka of covering up the scam and asked Chief Minister Basavaraj Bommai to reveal the names of actors involved in the fraud.
“This is a case of intrigue, whitewash, concealment and deception smack of a deep-rooted conspiracy. It is India’s biggest-ever bitcoin scam cover-up under the Karnataka BJP government,” Surjewala during a press conference. “Instead of conducting a fair investigation, the BJP Government of Karnataka appears to be preoccupied with a cover-up.”
Surjewala’s comments came after several Congress leaders said Prime Minister Narendra Modi istrying to dropthe investigation, asking Bommai not to worry about the issue.
“Instead of asking @CMofKarnataka to investigate & prove the innocence, how is it correct for @PMOIndia to tell him to ignore the allegations? Can Prime Minister unilaterally decide what he wants?,” Karnataka’s former chief minister and senior leader of CongressSiddaramaiah tweetedFriday.
“We don’t know if Bommai is involved in Bitcoin scam or not. All we are asking is to investigate it properly & punish the guilty. Why is Narendra Modi asking CM to ignore?,” Siddaramaiah added.
The scam dates back to 2019 and came to light a year ago after Bengaluru’s Central Crime Branch police arrested a hacker named Srikrishna and his associates in a narcotics case. During the investigation, the police found out that Srikrishna was the mastermind behind the alleged hacking of the Karnataka government’s e-procurement portal in 2019. The hacker siphoned off more than 10 crore rupees (US$1.3 million), according toThePrint.
Srikrishna also confessed to having hacked crypto exchange Bitfinex in 2016 and walked away with 2,000 bitcoin, according to the statement released by Congress’ Surjewala. Bengaluru police in January claimed to have recovered 31 bitcoin valued at 9 crore rupees from Srikrishna. However, the investigation team retracted the claim later, saying stolen coins were never transferred from Srikrishna’s wallet.
In a press release, Surjewala asked the government to disclose the role of Karnataka Chief Minister Basavaraj Bommai, who was the state’s home minister when the scam took place, and asked why Interpol was not informed about the stolen coins.
“How many bitcoins and of what value were transferred? How does the Bengaluru police then suggest (in its third Panchnama dated 22nd January 2021) that the 31 and 186 bitcoins allegedly transferred to the police wallet were lost or were found to be fake transactions,” Surjewala asked in the release.
The Congress spokesperson also asked the government to investigate whether Srikrishna moved the stolen Bitfinex coins when he was in custody in December 2020 and who the recipients were. As possible evidence, Surjewala cited “Whale Alerts,” a Twitter-based tracker of big crypto transactions, showing a transfer of the 14,682 stolen Bitfinex bitcoins on Dec. 1, 2020.
So far, BJP leaders have maintained that accusations of involvement of party leaders in the scam are rumors.
Congress stepped up its attack on the government concerning the alleged bitcoin scam earlier this week after Karnataka’s chief minister, Bommai, left for New Delhi to meet Prime Minister Modi. Speculation regarding the involvement of BJP bigwigs reached a fever pitch early today after Congress leader Rahul Gandhi, the scion of the Nehru-Gandhi dynasty, tweeted that the scope of the cover-up is much bigger than the scam itself.
Meanwhile, the Parliamentary Standing Committee on Finance has invited cryptocurrency players to discuss the opportunities and challenges of the industry in a meeting scheduled for Nov. 15. Crypto exchanges WazirX, CoinSwitch Kuber and CoinDCX are reported to be among the invitees. || Indian National Congress Accuses Modi-Led BJP of Covering Up Country’s Biggest Bitcoin Scam: Bitcoin is about to become an even more popular topic in India, with the country’s leading political parties at loggerheads over a multimillion-dollar scam involving the top cryptocurrency in the southern state of Karnataka.
On Saturday, Randeep Singh Surjewala, a spokesperson of the Indian National Congress (INC), the main opposition party, accused the Bhartiya Janta Party (BJP) government of Karnataka of covering up the scam and asked Chief Minister Basavaraj Bommai to reveal the names of actors involved in the fraud.
“This is a case of intrigue, whitewash, concealment and deception smack of a deep-rooted conspiracy. It is India’s biggest-ever bitcoin scam cover-up under the Karnataka BJP government,” Surjewala during a press conference. “Instead of conducting a fair investigation, the BJP Government of Karnataka appears to be preoccupied with a cover-up.”
Surjewala’s comments came after several Congress leaders said Prime Minister Narendra Modi istrying to dropthe investigation, asking Bommai not to worry about the issue.
“Instead of asking @CMofKarnataka to investigate & prove the innocence, how is it correct for @PMOIndia to tell him to ignore the allegations? Can Prime Minister unilaterally decide what he wants?,” Karnataka’s former chief minister and senior leader of CongressSiddaramaiah tweetedFriday.
“We don’t know if Bommai is involved in Bitcoin scam or not. All we are asking is to investigate it properly & punish the guilty. Why is Narendra Modi asking CM to ignore?,” Siddaramaiah added.
The scam dates back to 2019 and came to light a year ago after Bengaluru’s Central Crime Branch police arrested a hacker named Srikrishna and his associates in a narcotics case. During the investigation, the police found out that Srikrishna was the mastermind behind the alleged hacking of the Karnataka government’s e-procurement portal in 2019. The hacker siphoned off more than 10 crore rupees (US$1.3 million), according toThePrint.
Srikrishna also confessed to having hacked crypto exchange Bitfinex in 2016 and walked away with 2,000 bitcoin, according to the statement released by Congress’ Surjewala. Bengaluru police in January claimed to have recovered 31 bitcoin valued at 9 crore rupees from Srikrishna. However, the investigation team retracted the claim later, saying stolen coins were never transferred from Srikrishna’s wallet.
In a press release, Surjewala asked the government to disclose the role of Karnataka Chief Minister Basavaraj Bommai, who was the state’s home minister when the scam took place, and asked why Interpol was not informed about the stolen coins.
“How many bitcoins and of what value were transferred? How does the Bengaluru police then suggest (in its third Panchnama dated 22nd January 2021) that the 31 and 186 bitcoins allegedly transferred to the police wallet were lost or were found to be fake transactions,” Surjewala asked in the release.
The Congress spokesperson also asked the government to investigate whether Srikrishna moved the stolen Bitfinex coins when he was in custody in December 2020 and who the recipients were. As possible evidence, Surjewala cited “Whale Alerts,” a Twitter-based tracker of big crypto transactions, showing a transfer of the 14,682 stolen Bitfinex bitcoins on Dec. 1, 2020.
So far, BJP leaders have maintained that accusations of involvement of party leaders in the scam are rumors.
Congress stepped up its attack on the government concerning the alleged bitcoin scam earlier this week after Karnataka’s chief minister, Bommai, left for New Delhi to meet Prime Minister Modi. Speculation regarding the involvement of BJP bigwigs reached a fever pitch early today after Congress leader Rahul Gandhi, the scion of the Nehru-Gandhi dynasty, tweeted that the scope of the cover-up is much bigger than the scam itself.
Meanwhile, the Parliamentary Standing Committee on Finance has invited cryptocurrency players to discuss the opportunities and challenges of the industry in a meeting scheduled for Nov. 15. Crypto exchanges WazirX, CoinSwitch Kuber and CoinDCX are reported to be among the invitees. || Indian National Congress Accuses Modi-Led BJP of Covering Up Country’s Biggest Bitcoin Scam: Bitcoin is about to become an even more popular topic in India, with the country’s leading political parties at loggerheads over a multimillion-dollar scam involving the top cryptocurrency in the southern state of Karnataka. On Saturday, Randeep Singh Surjewala, a spokesperson of the Indian National Congress (INC), the main opposition party, accused the Bhartiya Janta Party (BJP) government of Karnataka of covering up the scam and asked Chief Minister Basavaraj Bommai to reveal the names of actors involved in the fraud. “This is a case of intrigue, whitewash, concealment and deception smack of a deep-rooted conspiracy. It is India’s biggest-ever bitcoin scam cover-up under the Karnataka BJP government,” Surjewala during a press conference. “Instead of conducting a fair investigation, the BJP Government of Karnataka appears to be preoccupied with a cover-up.” LIVE - Press Briefing by Shri @rssurjewala Prof. @GouravVallabh & Shri @lawyerkhanmd https://t.co/JA2Elr5ViA — AICC Communications (@AICCMedia) November 13, 2021 Surjewala’s comments came after several Congress leaders said Prime Minister Narendra Modi is trying to drop the investigation, asking Bommai not to worry about the issue. “Instead of asking @CMofKarnataka to investigate & prove the innocence, how is it correct for @PMOIndia to tell him to ignore the allegations? Can Prime Minister unilaterally decide what he wants?,” Karnataka’s former chief minister and senior leader of Congress Siddaramaiah tweeted Friday. “We don’t know if Bommai is involved in Bitcoin scam or not. All we are asking is to investigate it properly & punish the guilty. Why is Narendra Modi asking CM to ignore?,” Siddaramaiah added. Story continues The scam dates back to 2019 and came to light a year ago after Bengaluru’s Central Crime Branch police arrested a hacker named Srikrishna and his associates in a narcotics case. During the investigation, the police found out that Srikrishna was the mastermind behind the alleged hacking of the Karnataka government’s e-procurement portal in 2019. The hacker siphoned off more than 10 crore rupees (US$1.3 million), according to ThePrint . Srikrishna also confessed to having hacked crypto exchange Bitfinex in 2016 and walked away with 2,000 bitcoin, according to the statement released by Congress’ Surjewala. Bengaluru police in January claimed to have recovered 31 bitcoin valued at 9 crore rupees from Srikrishna. However, the investigation team retracted the claim later, saying stolen coins were never transferred from Srikrishna’s wallet. Congress's sstatement on the bitcoin scam In a press release, Surjewala asked the government to disclose the role of Karnataka Chief Minister Basavaraj Bommai, who was the state’s home minister when the scam took place, and asked why Interpol was not informed about the stolen coins. “How many bitcoins and of what value were transferred? How does the Bengaluru police then suggest (in its third Panchnama dated 22nd January 2021) that the 31 and 186 bitcoins allegedly transferred to the police wallet were lost or were found to be fake transactions,” Surjewala asked in the release. Congress's statement on the bitcoin scam The Congress spokesperson also asked the government to investigate whether Srikrishna moved the stolen Bitfinex coins when he was in custody in December 2020 and who the recipients were. As possible evidence, Surjewala cited “Whale Alerts,” a Twitter-based tracker of big crypto transactions, showing a transfer of the 14,682 stolen Bitfinex bitcoins on Dec. 1, 2020. So far, BJP leaders have maintained that accusations of involvement of party leaders in the scam are rumors. Congress stepped up its attack on the government concerning the alleged bitcoin scam earlier this week after Karnataka’s chief minister, Bommai, left for New Delhi to meet Prime Minister Modi. Speculation regarding the involvement of BJP bigwigs reached a fever pitch early today after Congress leader Rahul Gandhi, the scion of the Nehru-Gandhi dynasty, tweeted that the scope of the cover-up is much bigger than the scam itself. Bitcoin Scam is big. But Bitcoin Scam Cover-up is much bigger. Because it has to cover up someone’s fake big ego. — Rahul Gandhi (@RahulGandhi) November 13, 2021 Meanwhile, the Parliamentary Standing Committee on Finance has invited cryptocurrency players to discuss the opportunities and challenges of the industry in a meeting scheduled for Nov. 15. Crypto exchanges WazirX, CoinSwitch Kuber and CoinDCX are reported to be among the invitees. Parliamentary Committee's invitation to crypto players || Crypto to be ‘more competitive’ in 2022: Blockchain.com founder: Withbitcoin(BTC-USD) andEthereum(ETH-USD) hovering near all-time highs, many analysts arebullishthat the flagship cryptocurrencies, and the crypto space as a whole, can continue its rapid growth and ascension for the remainder of the year. And according toBlockchain.comfounder Peter Smith, 2022 will see more competition emerge in the industry.
“It's very hard to have lost money in crypto over the last year,” Smith said. “Some people have managed to do it, but it's quite hard. And so we're going to get into a harder, more competitive environment, I think, over the next year. And that's actually going to be net good for the market because it's going to start separating the good from the bad.”
In aninterviewwith Yahoo Finance’s Zack Guzman as part of theYahoo Finance/Decrypt: Crypto Goes Mainstreamsummit, Smith discussed his outlook for the crypto industry going into the next year. The summit featured conversations with some of the biggest names in crypto to talk investing, mass adoption, NFT collecting, and how to get started.
As for what competition in 2022 may look like, Smith believes that the market will likely begin to gravitate towards crypto platforms that are seeing the highest growth from a usage perspective rather than solely from an investment standpoint. This dynamic would distinguish the “momentum machines” from crypto platforms with “real technical value,” he said.
Smith cited how institutions are already beginning to look beyond Ethereum and bitcoin.
“So we're seeing volume and flow that's outside Ethereum and bitcoin in our institutional business today, which is really kind of interesting,” Smith said. “And [it] happened a lot faster than we thought it would. That is going to impact prices.”
Indeed, other players with major DeFi applications are steadily entering the scene. For instance, Solana (SOL1-USD) hassoared in valuesince the beginning of 2021 as the marketcheersthe blockchain’s functionality. Originally touted as an “Ethereum killer,” though experts have becomeincreasingly skepticalabout the moniker over time, it remainsamong the top cryptocurrenciesby market cap due in part to the platform’s usability.
Going forward, Smith also expects some level of decoupling to take place within the crypto market.
“Right now everything is trading very correlated,” he said. “So you have this excitement in the space and that's trading up. And there might be slight divergences between this asset and that asset on any given day, but everything is generally trading up … And I think that's the evolution in the market you're going to see next year — is sort of a breakup in the correlation of this asset class.”
Thomas Hum is a writer at Yahoo Finance. Follow him on Twitter@thomashumTV
Read the latest financial and business news from Yahoo Finance
Read the latest cryptocurrency and bitcoin news from Yahoo Finance
Follow Yahoo Finance onTwitter,Instagram,YouTube,Facebook,Flipboard, andLinkedIn || Crypto to be ‘more competitive’ in 2022: Blockchain.com founder: With bitcoin ( BTC-USD ) and Ethereum ( ETH-USD ) hovering near all-time highs, many analysts are bullish that the flagship cryptocurrencies, and the crypto space as a whole, can continue its rapid growth and ascension for the remainder of the year. And according to Blockchain.com founder Peter Smith, 2022 will see more competition emerge in the industry. “It's very hard to have lost money in crypto over the last year,” Smith said. “Some people have managed to do it, but it's quite hard. And so we're going to get into a harder, more competitive environment, I think, over the next year. And that's actually going to be net good for the market because it's going to start separating the good from the bad.” In an interview with Yahoo Finance’s Zack Guzman as part of the Yahoo Finance/Decrypt: Crypto Goes Mainstream summit, Smith discussed his outlook for the crypto industry going into the next year. The summit featured conversations with some of the biggest names in crypto to talk investing, mass adoption, NFT collecting, and how to get started. As for what competition in 2022 may look like, Smith believes that the market will likely begin to gravitate towards crypto platforms that are seeing the highest growth from a usage perspective rather than solely from an investment standpoint. This dynamic would distinguish the “momentum machines” from crypto platforms with “real technical value,” he said. Smith cited how institutions are already beginning to look beyond Ethereum and bitcoin. “So we're seeing volume and flow that's outside Ethereum and bitcoin in our institutional business today, which is really kind of interesting,” Smith said. “And [it] happened a lot faster than we thought it would. That is going to impact prices.” Indeed, other players with major DeFi applications are steadily entering the scene. For instance, Solana ( SOL1-USD ) has soared in value since the beginning of 2021 as the market cheers the blockchain’s functionality. Originally touted as an “Ethereum killer,” though experts have become increasingly skeptical about the moniker over time, it remains among the top cryptocurrencies by market cap due in part to the platform’s usability. Story continues Going forward, Smith also expects some level of decoupling to take place within the crypto market. “Right now everything is trading very correlated,” he said. “So you have this excitement in the space and that's trading up. And there might be slight divergences between this asset and that asset on any given day, but everything is generally trading up … And I think that's the evolution in the market you're going to see next year — is sort of a breakup in the correlation of this asset class.” Thomas Hum is a writer at Yahoo Finance. Follow him on Twitter @thomashumTV Read the latest financial and business news from Yahoo Finance Read the latest cryptocurrency and bitcoin news from Yahoo Finance Follow Yahoo Finance on Twitter , Instagram , YouTube , Facebook , Flipboard , and LinkedIn || What to expect from Taproot, the biggest upgrade to the bitcoin network in 4 years: • The biggest upgrade to the bitcoin network in four years is slated to happen over the weekend.
• Unlike the last upgrade in 2017, Taproot has received near-universal support in the bitcoin community.
• Here's what you need to know, from the BIPs to what this may mean for the network.
• Sign up here for our daily newsletter, 10 Things Before the Opening Bell.
The biggest upgrade in bitcoin's network in four years is slated to happen over the weekend. Here's what you need to know.
Taproot is the first change to bitcoin's protocol since SegWit, the last upgrade which took place in July 2017.
Unlike the highly controversial SegWit, which caused a "civil war" in the bitcoin community, Taproot has received a near-universal consensus, Ninos Mansor, partner at Arrington XRP Capital Partner, a crypto investment firm, told Insider.
The upgrade is aimed primarily at making the cryptocurrency's network more private, secure, and scalable, encompassed by three separate Bitcoin Improvement Proposals or BIPs. These are:
• BIP340- replaces Elliptic Curve Digital Signature Algorithm with Schnorr Signatures, a cryptographic scheme that makes complex bitcoin transactions simpler and more secure.
• BIP341- builds on the SegWit upgrade and improves bitcoin privacy while lowering transaction fees. It also introduces MAST, which allows users to lock outputs to multiple scripts.
• BIP342- reforms Bitcoin's scripting language and introduces "Tapscript," which changes how signatures are evaluated. It also takes advantage of Schnorr signatures.
The upgrade is also aimed at equipping the world's largest digital asset by market cap to be able to compete more with assets like ethereum, which is known for its programmable smart contracts.
Mansor elaborates on these proposals in the29-page reportpublished last month. But more than the technicalities of the upgrades, it is the act of upgrading the network that is just as important, he said.
"The upgrade could be a macro turning point for evolvability and innovation, merging the best of post-Segwit conservatism with the energy of new beginnings," Mansor wrote in the report. "It is a meta-upgrade, a chance to redefine what it means to contribute to bitcoin, whether one is a miner, developer, or full node."
And even if Taproot will only introduce marginal changes, Mansor told Insider the upgrade is crucial as it sets the protocol up for future ones. This, he said, will also debunk theories that bitcoin is "stagnant."
But how will the upgrade affect retail traders? For starters, bitcoin transactions will be more affordable, more secure, and more private, Mansor said. Keys, for instance, will not be as exposed on the chain because multisig outputs, single sig outputs, and other complex smart contracts will all look the same. "People will be even more confident in the network," he added.
Taproot was approved by miners around the world in June 2021 after being initially proposed by core developer Gregory Maxwell inJanuary 2018. The long lead time between the proposal and the activation has to do with the numerous rounds of reviewing and testing.
The upgrade went live on November 14, 2021. when the bitcoin blockchain reached block 709,632 at 5:15 UTC.
Simply put, Taproot is set to make bitcoin's network better and more robust, Mansor said. "It makes complicated transactions easier to achieve while improving privacy and scalability."
Read the original article onBusiness Insider || What to expect from Taproot, the biggest upgrade to the bitcoin network in 4 years: Getty Images The biggest upgrade to the bitcoin network in four years is slated to happen over the weekend. Unlike the last upgrade in 2017, Taproot has received near-universal support in the bitcoin community. Here's what you need to know, from the BIPs to what this may mean for the network. Sign up here for our daily newsletter, 10 Things Before the Opening Bell . The biggest upgrade in bitcoin's network in four years is slated to happen over the weekend. Here's what you need to know. Taproot is the first change to bitcoin's protocol since SegWit, the last upgrade which took place in July 2017. Unlike the highly controversial SegWit, which caused a "civil war" in the bitcoin community, Taproot has received a near-universal consensus, Ninos Mansor, partner at Arrington XRP Capital Partner, a crypto investment firm, told Insider. The upgrade is aimed primarily at making the cryptocurrency's network more private, secure, and scalable, encompassed by three separate Bitcoin Improvement Proposals or BIPs. These are: BIP340 - replaces Elliptic Curve Digital Signature Algorithm with Schnorr Signatures, a cryptographic scheme that makes complex bitcoin transactions simpler and more secure. BIP341 - builds on the SegWit upgrade and improves bitcoin privacy while lowering transaction fees. It also introduces MAST, which allows users to lock outputs to multiple scripts. BIP342 - reforms Bitcoin's scripting language and introduces "Tapscript," which changes how signatures are evaluated. It also takes advantage of Schnorr signatures. The upgrade is also aimed at equipping the world's largest digital asset by market cap to be able to compete more with assets like ethereum, which is known for its programmable smart contracts. Mansor elaborates on these proposals in the 29-page report published last month. But more than the technicalities of the upgrades, it is the act of upgrading the network that is just as important, he said. Story continues "The upgrade could be a macro turning point for evolvability and innovation, merging the best of post-Segwit conservatism with the energy of new beginnings," Mansor wrote in the report. "It is a meta-upgrade, a chance to redefine what it means to contribute to bitcoin, whether one is a miner, developer, or full node." And even if Taproot will only introduce marginal changes, Mansor told Insider the upgrade is crucial as it sets the protocol up for future ones. This, he said, will also debunk theories that bitcoin is "stagnant." But how will the upgrade affect retail traders? For starters, bitcoin transactions will be more affordable, more secure, and more private, Mansor said. Keys, for instance, will not be as exposed on the chain because multisig outputs, single sig outputs, and other complex smart contracts will all look the same. "People will be even more confident in the network," he added. Taproot was approved by miners around the world in June 2021 after being initially proposed by core developer Gregory Maxwell in January 2018 . The long lead time between the proposal and the activation has to do with the numerous rounds of reviewing and testing. The upgrade went live on November 14, 2021. when the bitcoin blockchain reached block 709,632 at 5:15 UTC. Simply put, Taproot is set to make bitcoin's network better and more robust, Mansor said. "It makes complicated transactions easier to achieve while improving privacy and scalability." Read the original article on Business Insider || ETF Trades to Combat Hot Inflation Data: After the stupendous Wall Street rally in October and a solid start to November, it seems the party on the bourses has come to a halt. Investors have started worrying about the hot inflation data releases amid the Fed’s stance of calling inflation levels ‘transitory’.
According to the Federal Reserve, a major part of the inflation has been triggered by the pandemic-driven supply-demand imbalance, which might get resolved in a few months (per a CNBC article). The rising inflation levels are impacting different sectors like food, energy, shelter and cars. In this regard, Delos Capital Advisors chief investment strategist Andrew Smith has commented that “This isn’t just now focused on used car sales, apparel. You’re seeing a broadening across the entire base,” per a CNBC article. He has also mentioned that “All of this is manifesting to an inflationary point that’s showing that it’s not as transitory as they were making it out to be,” according to the same article.
Per the latest Labor Department report, the Consumer Price Index (CPI) in October rose 6.2% year over year compared to the Dow Jones estimate of a 5.9% rise, per a CNBC article. The metric came in at the highest level since December 1990 and covers a basket of products ranging from gasoline and health care to groceries and rents. It also increased 0.9% for the month, surpassing the 0.6% Dow Jones estimate. The soaring food, used vehicles and energy prices might be primarily responsible for the higher inflation levels.
Excluding food and energy prices, the core CPI was up 0.6%, worse than the estimate of 0.4%. Annual core inflation also increased at a 4.6% pace, in comparison with the 4% expectation and came in at the highest level since August 1991 (per a CNBC article).
The International Monetary Fund had earlier asked the Federal Reserves and its peers across the globe to prepare for a backup plan if the inflation levels remain persistently high, per a CNBC article. Thus, investors are now getting mentally prepared for the interest rate hikes to happen sooner than expected or the Fed’s move to taper the bond purchases.
Notably, the hot inflation data has compelled investors to look for alternative investment options that may fare better than cash or bonds in an inflationary environment. Moreover, certain companies with compromised pricing power may take a severe hit amid inflation and future earnings may also look less attractive amid high inflation levels. Following the release of inflation data, the SPDR Gold Shares fund was up 0.8% on Nov 10.
Against this backdrop, let’s take a look at some ETF trades that can be considered:
Considering the current scenario, gold prices have been rising. The inflationary backdrop in the United States is favorable for gold as the metal is viewed as a hedge against inflation.
John Feeney, business development manager at Sydney-based bullion dealer Guardian Gold Australia, has earlier said that “Gold might actually start catching a strong bid if high inflation persists, which is a big switch from earlier in the year where taper fears dominated inflation fears. Historically, gold tends to perform very well in inflationary environments, so it makes sense for the market to turn bullish if inflation continues to beat,” according to a Bloomberg article.
Gold ETFs mostly move in tandem with gold prices. TheSPDR Gold SharesGLD andiShares Gold TrustIAU are some of the popular ETFs. GLD and IAU carry a Zacks ETF Rank #3 (Hold) and have a Medium-risk outlook (read: Best Inverse/Leveraged ETFs of Last Week).
TIPS ETFs offer robust real returns during inflationary periods, unlike its unprotected peers in the fixed-income world. It not only provides shelter from increasing prices but also protects income for the long term. While there are several options in the space to tap the rising consumer prices, we have highlightediShares TIPS Bond ETFTIP andSchwab U.S. TIPS ETFSCHP, which can be a compelling investment. TIP and SCHP have High-risk outlook (read: Global TIPS ETFs to Play Now).
According to The Guardian report, bitcoin is generally seen as an alternative to the traditional safe-haven investment — gold. Some analysts are also expecting to see tough competition between both assets in the near future. According to the market pundits, growing retail interest in bitcoin may soon be observed as a form of digital gold. In fact, following the release of hot inflation data, the first fund to track theProShares Bitcoin Strategy ETFBITO was up 0.4% on Nov 10 (read: Top ETF Stories of October).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportSPDR Gold Shares (GLD): ETF Research ReportsiShares Gold Trust (IAU): ETF Research ReportsiShares TIPS Bond ETF (TIP): ETF Research ReportsSchwab U.S. TIPS ETF (SCHP): ETF Research ReportsProShares Bitcoin Strategy ETF (BITO): ETF Research ReportsTo read this article on Zacks.com click here.Zacks Investment Research || ETF Trades to Combat Hot Inflation Data: After the stupendous Wall Street rally in October and a solid start to November, it seems the party on the bourses has come to a halt. Investors have started worrying about the hot inflation data releases amid the Feds stance of calling inflation levels transitory. According to the Federal Reserve, a major part of the inflation has been triggered by the pandemic-driven supply-demand imbalance, which might get resolved in a few months (per a CNBC article). The rising inflation levels are impacting different sectors like food, energy, shelter and cars. In this regard, Delos Capital Advisors chief investment strategist Andrew Smith has commented that This isnt just now focused on used car sales, apparel. Youre seeing a broadening across the entire base, per a CNBC article. He has also mentioned that All of this is manifesting to an inflationary point thats showing that its not as transitory as they were making it out to be, according to the same article. Per the latest Labor Department report, the Consumer Price Index (CPI) in October rose 6.2% year over year compared to the Dow Jones estimate of a 5.9% rise, per a CNBC article. The metric came in at the highest level since December 1990 and covers a basket of products ranging from gasoline and health care to groceries and rents. It also increased 0.9% for the month, surpassing the 0.6% Dow Jones estimate. The soaring food, used vehicles and energy prices might be primarily responsible for the higher inflation levels. Excluding food and energy prices, the core CPI was up 0.6%, worse than the estimate of 0.4%. Annual core inflation also increased at a 4.6% pace, in comparison with the 4% expectation and came in at the highest level since August 1991 (per a CNBC article). The International Monetary Fund had earlier asked the Federal Reserves and its peers across the globe to prepare for a backup plan if the inflation levels remain persistently high, per a CNBC article. Thus, investors are now getting mentally prepared for the interest rate hikes to happen sooner than expected or the Feds move to taper the bond purchases. Notably, the hot inflation data has compelled investors to look for alternative investment options that may fare better than cash or bonds in an inflationary environment. Moreover, certain companies with compromised pricing power may take a severe hit amid inflation and future earnings may also look less attractive amid high inflation levels. Following the release of inflation data, the SPDR Gold Shares fund was up 0.8% on Nov 10. Story continues Against this backdrop, lets take a look at some ETF trades that can be considered: Gold ETFs to Hedge Inflation Considering the current scenario, gold prices have been rising. The inflationary backdrop in the United States is favorable for gold as the metal is viewed as a hedge against inflation. John Feeney, business development manager at Sydney-based bullion dealer Guardian Gold Australia, has earlier said that Gold might actually start catching a strong bid if high inflation persists, which is a big switch from earlier in the year where taper fears dominated inflation fears. Historically, gold tends to perform very well in inflationary environments, so it makes sense for the market to turn bullish if inflation continues to beat, according to a Bloomberg article. Gold ETFs mostly move in tandem with gold prices. The SPDR Gold Shares GLD and iShares Gold Trust IAU are some of the popular ETFs. GLD and IAU carry a Zacks ETF Rank #3 (Hold) and have a Medium-risk outlook (read: Best Inverse/Leveraged ETFs of Last Week). TIPS ETFs at Rescue TIPS ETFs offer robust real returns during inflationary periods, unlike its unprotected peers in the fixed-income world. It not only provides shelter from increasing prices but also protects income for the long term. While there are several options in the space to tap the rising consumer prices, we have highlighted iShares TIPS Bond ETF TIP and Schwab U.S. TIPS ETF SCHP, which can be a compelling investment. TIP and SCHP have High-risk outlook (read: Global TIPS ETFs to Play Now). Bitcoins Gaining Popularity as Digital Gold According to The Guardian report, bitcoin is generally seen as an alternative to the traditional safe-haven investment gold. Some analysts are also expecting to see tough competition between both assets in the near future. According to the market pundits, growing retail interest in bitcoin may soon be observed as a form of digital gold. In fact, following the release of hot inflation data, the first fund to track the ProShares Bitcoin Strategy ETF BITO was up 0.4% on Nov 10 (read: Top ETF Stories of October). Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report SPDR Gold Shares (GLD): ETF Research Reports iShares Gold Trust (IAU): ETF Research Reports iShares TIPS Bond ETF (TIP): ETF Research Reports Schwab U.S. TIPS ETF (SCHP): ETF Research Reports ProShares Bitcoin Strategy ETF (BITO): ETF Research Reports To read this article on Zacks.com click here. Zacks Investment Research View comments || SEC Rejects VanEck Bitcoin Spot ETF Application: BeInCrypto –
The SEC continues its rejection of applications for bitcoin spot ETFs, even as enthusiasm around the futures ETF thrives.
This storywas seen first onBeInCryptoJoin our Telegram Groupand get trading signals, a free trading course and more stories likethisonBeInCrypto || SEC Rejects VanEck Bitcoin Spot ETF Application: BeInCrypto – The SEC continues its rejection of applications for bitcoin spot ETFs, even as enthusiasm around the futures ETF thrives. This story was seen first on BeInCrypto Join our Telegram Group and get trading signals, a free trading course and more stories like this on BeInCrypto || SEC Rejects VanEck Bitcoin Spot ETF Application: BeInCrypto –
The SEC continues its rejection of applications for bitcoin spot ETFs, even as enthusiasm around the futures ETF thrives.
This storywas seen first onBeInCryptoJoin our Telegram Groupand get trading signals, a free trading course and more stories likethisonBeInCrypto || AMC theaters start accepting cryptocurrency payment for movie tickets: AMC announced back in August that it will start accepting cryptocurrency by the end of the year. Now, company CEO Adam Aron has revealed on Twitter that you can already use your digital coins to purchase movie tickets. And, true to the promise he made in September, AMC isn't only accepting Bitcoin, but also Ethereum, Bitcoin Cash and Litecoin — for online purchases, that is. Aron also said that the theater chain has started accepting Apple Pay, Google Pay and PayPal payments, as well. Big newsflash! As promised, many new ways NOW to pay online at AMC. We proudly now accept: drumroll, please… Bitcoin, Ethereum, Bitcoin Cash, Litecoin. Also Apple Pay, Google Pay, PayPal. Incredibly, they already account for 14% of our total online transactions! Dogecoin next. pic.twitter.com/a7pqYBm7HB — Adam Aron (@CEOAdam) November 12, 2021 It sounds like moviegoers are welcoming the new payment method with open arms, since it apparently already accounts for 14 percent of the company's total online transactions. Aron also said that AMC will be adding Dogecoin next. AMC almost went bankrupt due to the pandemic last year, but it was saved in part thanks to an army of day traders on Reddit and Twitter that sent its stocks soaring by around 2,300 percent. Aron fully embraced the company's status as a meme stock and told investors in an earnings call earlier this month that AMC is exploring the creation of its own cryptocurrency. AMC plans to make a foray into the world of NFTs, as well, and is in talks with Hollywood studios to create non-fungible tokens related to major films. During the call, Aron said that the theater chain is also looking into accepting Shiba Inu tokens, but he has yet to announce if it can add the cryptocurrency to its payment options. || AMC theaters start accepting cryptocurrency payment for movie tickets: AMCannouncedback in August that it will start accepting cryptocurrency by the end of the year. Now, company CEO Adam Aron hasrevealedon Twitter that you can already use your digital coins to purchase movie tickets. And, true to thepromisehe made in September, AMC isn't only accepting Bitcoin, but also Ethereum, Bitcoin Cash and Litecoin — for online purchases, that is. Aron also said that the theater chain has started accepting Apple Pay, Google Pay and PayPal payments, as well.
It sounds like moviegoers are welcoming the new payment method with open arms, since it apparently already accounts for 14 percent of the company's total online transactions. Aron also said that AMC will be adding Dogecoin next.
AMC almost went bankrupt due to the pandemic last year, but it was saved in part thanks to an army of day traders on Reddit and Twitter that sent its stockssoaringby around 2,300 percent. Aron fully embraced the company's status as a meme stock and told investorsin an earnings callearlier this month that AMC is exploring the creation of its own cryptocurrency. AMC plans to make a foray into the world of NFTs, as well, and is in talks with Hollywood studios to create non-fungible tokens related to major films. During the call, Aron said that the theater chain is also looking intoaccepting Shiba Inutokens, but he has yet to announce if it can add the cryptocurrency to its payment options. || Rivian shares make big jump on first day of trading: The S&P 500 finished the week slightly lower after new red-hot inflation numbers spooked investors.
On Wednesday, the Labor Department reported a6.2% increasein the consumer price index in the month of October, the index’s highest inflation reading since 1990. U.S. wages grew 4.9% in October, but real wages after adjusting for inflation were down 0.5% month-over-month.
Shares of Johnson & Johnson and General Electric both got a boost when the companies announced separate plans to split into multiple entities. GE said it will divide intothree differentcompanies focusing on aviation, health care and energy, while Johnson & Johnson plans to separate its consumer products business from its medical devices and pharmaceuticals business.
Shares of electric vehicle maker Rivian jumped 29% on the company’s first day of trading Wednesday following one ofthe biggestinitial public offerings of 2021. Rivian does not yet produce vehicles, but its $109 billion market valuation is already higher than both Ford and General Motors.
Bitcoin hit a newall-time highof $69,000 during the week before pulling back below $64,000 on Friday. Ethereum, the second most valuable cryptocurrency, also hit new all-time highs above $4,800.
More:Electric truck maker Rivian, backed by Amazon, flies in debut
Roblox shares gained more than 30% after the company reported a third-quarter earnings beat and said its average daily users increased 43% year-over-year in October.
Third-quarter earnings season rolls on this week with reports from Walmart on Tuesday, Nvidia on Wednesday and Alibaba and JD.com on Thursday.
The S&P 500’s third-quarter revenue growth rate of 17.3% is the second-highest growth rate of any quarter going back to at least 2008, accordingto FactSet.
Following a higher-than-expected inflation reading, Wall Street will get more economic updates on Tuesday when Eurostat releases its preliminary third-quarter Eurozone GDP growth estimate and the U.S. Census Bureau releases its October Retail Sales report.
Benzingais a financial news and data company headquartered in Detroit.
This article originally appeared on Detroit Free Press:Rivian shares make big jump on first day of trading || Bitcoin Bandits Make Off With Crypto ATM in Barcelona: BeInCrypto –
A Bitcoin ATM was stolen from a Grayscale Bitcoin Trust crypto exchange in Barcelona on Friday, Nov. 12.
This storywas seen first onBeInCryptoJoin our Telegram Groupand get trading signals, a free trading course and more stories likethisonBeInCrypto || Bitcoin Bandits Make Off With Crypto ATM in Barcelona: BeInCrypto A Bitcoin ATM was stolen from a Grayscale Bitcoin Trust crypto exchange in Barcelona on Friday, Nov. 12. This story was seen first on BeInCrypto Join our Telegram Group and get trading signals, a free trading course and more stories like this on BeInCrypto || Bitcoin Bandits Make Off With Crypto ATM in Barcelona: BeInCrypto –
A Bitcoin ATM was stolen from a Grayscale Bitcoin Trust crypto exchange in Barcelona on Friday, Nov. 12.
This storywas seen first onBeInCryptoJoin our Telegram Groupand get trading signals, a free trading course and more stories likethisonBeInCrypto
[Social Media Buzz]
None available.
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63557.87, 60161.25, 60368.01, 56942.14, 58119.58, 59697.20, 58730.48, 56289.29, 57569.07, 56280.43
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Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 1175.83, 1221.38, 1231.92, 1240.00, 1249.61, 1187.81, 1100.23, 973.82, 1036.74, 1054.23, 1120.54, 1049.14, 1038.59, 937.52, 972.78, 966.72, 1045.77, 1047.15, 1039.97, 1026.43, 1071.79, 1080.50, 1102.17, 1143.81, 1133.25, 1124.78, 1182.68, 1176.90, 1175.95, 1187.87, 1187.13, 1205.01, 1200.37, 1169.28, 1167.54, 1172.52, 1182.94, 1193.91, 1211.67, 1210.29, 1229.08, 1222.05, 1231.71, 1207.21, 1250.15, 1265.49, 1281.08, 1317.73, 1316.48, 1321.79, 1347.89, 1421.60, 1452.82, 1490.09, 1537.67, 1555.45, 1578.80, 1596.71, 1723.35, 1755.36, 1787.13, 1848.57, 1724.24, 1804.91, 1808.91, 1738.43, 1734.45, 1839.09, 1888.65, 1987.71, 2084.73, 2041.20, 2173.40, 2320.42, 2443.64, 2304.98, 2202.42, 2038.87, 2155.80, 2255.61, 2175.47, 2286.41, 2407.88, 2488.55, 2515.35, 2511.81, 2686.81, 2863.20, 2732.16, 2805.62.
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[Bitcoin Technical Analysis for 2017-06-08]
Volume: 1281170048, RSI (14-day): 71.96, 50-day EMA: 1996.33, 200-day EMA: 1338.20
[Wider Market Context]
Gold Price: 1276.30, Gold RSI: 57.29
Oil Price: 45.64, Oil RSI: 35.02
[Recent News (last 7 days)]
Cramer counters Wall Street worries around markets rising in tandem: While simultaneous upward moves in the markets might sound like good news, Jim Cramer saw one report on Wednesday preaching caution about the "everything rally." "This morning we wake up to a starkly negative headline — here we go — in the Wall Street Journal: 'Markets Rise in Lockstep, Raising Worries of Reversal,'" the " Mad Money " host said. "The big concern? Stocks, bonds, gold and Bitcoin are all moving up in unison, which makes the market 'vulnerable to sharp reversals.'" While Cramer is never one to say that the market is immune sharp downturns, especially with a president he finds to be "capable of some acts that, let's just say, were a little unthinkable in previous administrations," Cramer did find some counterweights to the Journal's argument. For most of his career, Cramer saw interest rates go down as stocks went up. Now, investors want to see the Federal Reserve hike rates to confirm the strength of the economy with a market also on the rise. Watch the full segment here: "But we've never had such an incredible fluidity in fixed income globally, nothing like this," Cramer said. "You want to own an Italian 10-year bond at the same rate as a U.S. one? That's insane if you do. So that money's coming here, not staying over there. How about a German 10-year where you literally make nothing? That money's coming here, too." The action in the international bond markets marks one extenuating circumstance in the age-old lower-rates-higher-stocks paradigm. Another one is the movement in gold (CEC:Commodities Exchange Centre: @GC.1) . "The precious metal has had many sustained rallies right along with stocks. There are plenty of structural factors that make it that way as gold is, by the way, a worldwide market more heavily influenced by fund flows from China and India than the United States," Cramer explained. As for Bitcoin (Exchange: BTC=-USS) , Cramer said there is a reasonable explanation for why the digital currency is relentlessly surging higher . Story continues An effectively untraceable way to move money, Bitcoin provides a way for people to extract cash from a failing or unstable country without being followed or having it confiscated. "It's invisible to the taxman so those countries in Europe that raised taxes? They provide a ready market for Bitcoin. It's the answer for the Chinese because gold's too easily confiscated. You don't think it could happen in those countries? Confiscation? Hey, how about a history lesson? It happened here — FDR confiscated our gold in 1933. You can't confiscate Bitcoin," Cramer said. And organizations worried about the risks of cyberattacks have been purchasing Bitcoin to pay off hackers, a trend Cramer insisted is completely separate from, for example, the price-to-earnings ratio of pharmaceutical giant Johnson & Johnson (NYSE: JNJ) . "Again, there's plenty of unseen worries, ones like Iraq's invasion of Kuwait in 1990 that wrecked a perfectly placid summer," the "Mad Money" host said. "But the fact that stocks, bonds, gold and Bitcoin are all rising at once likely won't be the cause of any reversal. You know what I think it is? I think it's an evergreen headline that generates a lot of fear but, frankly, not much else." Questions for Cramer? Call Cramer: 1-800-743-CNBC Want to take a deep dive into Cramer's world? Hit him up! Mad Money Twitter - Jim Cramer Twitter - Facebook - Instagram - Vine Questions, comments, suggestions for the "Mad Money" website? madcap@cnbc.com More From CNBC Cramer lays out the 15 stocks to buy when bad headlines prevail Cramer: Here's how this anti-Trump software stock has managed to rally Cramer's lightning round: This downtrodden stock's no more than a value play || Cramer counters Wall Street worries around markets rising in tandem: While simultaneous upward moves in the markets might sound like good news, Jim Cramer sawone reporton Wednesday preaching caution about the "everything rally."
"This morning we wake up to a starkly negative headline — here we go — in the Wall Street Journal: 'Markets Rise in Lockstep, Raising Worries of Reversal,'" the "Mad Money" host said. "The big concern? Stocks, bonds, gold and Bitcoin are all moving up in unison, which makes the market 'vulnerable to sharp reversals.'"
While Cramer is never one to say that the market is immune sharp downturns, especially with a president he finds to be "capable of some acts that, let's just say, were a little unthinkable in previous administrations," Cramer did find some counterweights to the Journal's argument.
For most of his career, Cramer saw interest rates go down as stocks went up. Now, investors want to see theFederal Reservehike rates to confirm the strength of the economy with a market also on the rise.
Watch the full segment here:
"But we've never had such an incredible fluidity in fixed income globally, nothing like this," Cramer said. "You want to own an Italian 10-year bond at the same rate as a U.S. one? That's insane if you do. So that money's coming here, not staying over there. How about a German 10-year where you literally make nothing? That money's coming here, too."
The action in the international bond markets marks one extenuating circumstance in the age-old lower-rates-higher-stocks paradigm. Another one is the movement in gold(CEC:Commodities Exchange Centre: @GC.1).
"The precious metal has had many sustained rallies right along with stocks. There are plenty of structural factors that make it that way as gold is, by the way, a worldwide market more heavily influenced by fund flows from China and India than the United States," Cramer explained.
As for Bitcoin(Exchange: BTC=-USS), Cramer said there is a reasonable explanation for why the digital currency is relentlesslysurging higher.
An effectively untraceable way to move money, Bitcoin provides a way for people to extract cash from a failing or unstable country without being followed or having it confiscated.
"It's invisible to the taxman so those countries in Europe that raised taxes? They provide a ready market for Bitcoin. It's the answer for the Chinese because gold's too easily confiscated. You don't think it could happen in those countries? Confiscation? Hey, how about a history lesson? It happened here — FDR confiscated our gold in 1933. You can't confiscate Bitcoin," Cramer said.
And organizations worried about the risks of cyberattacks have been purchasing Bitcoin to pay off hackers, a trend Cramer insisted is completely separate from, for example, the price-to-earnings ratio of pharmaceutical giant Johnson & Johnson(NYSE: JNJ).
"Again, there's plenty of unseen worries, ones like Iraq's invasion of Kuwait in 1990 that wrecked a perfectly placid summer," the "Mad Money" host said. "But the fact that stocks, bonds, gold and Bitcoin are all rising at once likely won't be the cause of any reversal. You know what I think it is? I think it's an evergreen headline that generates a lot of fear but, frankly, not much else."
Questions for Cramer?Call Cramer: 1-800-743-CNBC
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• Cramer's lightning round: This downtrodden stock's no more than a value play || Tiger Cub Rob Citrone Is Bullish on Valeant Pharmaceuticals Intl Inc (VRX), Advanced Micro Devices, Inc (AMD), Slashes Amazon.com, Inc. (AMZN): Image result for "Rob Citrone" Rob Citrone is fund manager of the $5.37 billion Discovery Capital Management fund. In Q1 Citrone made some interesting portfolio adjustments- initiating holdings in Valeant Pharmaceuticals Intl Inc (NYSE: VRX ) and Advanced Micro Devices, Inc (NASDAQ: AMD ) while slashing the fund’s holding of one of the market’s most popular stocks, e-commerce giant Amazon.com, Inc. (NASDAQ: AMZN ). Citrone began his career in Julian Robertson’s legendary fund Tiger Management giving him the ‘Tiger Cub’ nickname along with other big-name fund manager such as Steve Mandel and Lee Ainslie. Citrone, who founded Discovery in 1999, is a fan of macro bets and emerging markets- a strategy that saw the firm lose money in both 2014 and 2015. These losses were somewhat offset in 2016 when the fund made a 9% return- apparently from trades made in the last 2 months of the year alone. However the fund’s measured performance of 19.46% remains considerably below that of the average hedge fund (53.57%). Now let’s dig down into the fund manager’s key Q1 moves: New Hopes for Valeant Pharmaceuticals Perhaps surprisingly given fellow fund manager Bill Ackman’s recent exit from the stock with a $4 billion loss, Citrone initiated a new position in Valeant Pharma worth $5.11 million. So far the investment has paid off with shares up 28% since the last filing date. Rumors have now surfaced that Valeant intends to sell eye unit Bausch & Lomb’s surgery products business to Carl Zeiss Meditec AG, a $4.6 billion medical tech company based in Germany. The deal could be worth about $2 billion, sources told Bloomberg, but added that it could take several weeks for an agreement to be signed as the two companies are just in discussions for now. At the right price, a sale could be good news for the embattled health care stock Valeant which is trying to clear its massive $28.9 billion debt burden racked up from numerous acquisitions, poor sales and legal investigations into former pricing policies. This year Valeant has already sold three skincare brands to L’Oreal for $1.3 billion and its Dendreon cancer business to China’s Sanpower for $819 million. Story continues Analysts are more cautious on the stock’s outlook. TipRanks shows that in the last three months the stock has received 2 buy, 9 hold and 3 sell ratings. The average analyst price target of $18.20 now stands at a 46% upside from the current share price of just $12.51. Small Bite in AMD In Q1 Citrone also decided to start seriously investing in semiconductor company AMD with a new position worth $164.63 million. So far shares are down, with a decrease of over 12% since the last filing date. AMD is now seeing an unexpected boost in demand from rapidly exploding cryptocurrencies. Shares in AMD were up 7% on Tuesday making the stock the best-performer in the S&P 500 for the day after AMD revealed that cryptocurrencies are leading an upsurge in demand for its graphic cards. Bitcoin is up 200% this year, Ethereum an incredible 2900% year-to-date. AMD says that gaming continues to be the company’s main focus where it sees “solid demand” for its Polaris-based graphics cards. However it’s possible that the situation will not end as well as the market currently believes. In December 2013, the same situation occurred and the demand for AMD’s graphic cards proved very temporary. At the time, Bitcoin rose and then dropping by 80%. This could happen again. Now Bitcoin is arguably also being boosted by a kind of cryptocurrency euphoria which could make the downturn even more severe. Perhaps that is why AMD is trying to downplay the news with the gaming comment. The stock has a hold consensus rating from the Street, according to TipRanks which shows a spread of 6 buy, 9 hold and 3 sell ratings in the last three months. Due in part to the recent share gains, analysts are predicting downside of -8.74% to the average price target of $11.70 from the current share price. Slashing Amazon In Q1, Citrone slashed the fund’s Amazon holding by a considerable 61%. The fund’s remaining position in the e-commerce giant now stands at $165 million- making it the fund’s fourth biggest stock. And since the last filing date it has performed well with shares up 14%. Amazon has just announced that it will discount its Prime subscriber service by 49% to just $5.99/ month for customers with verified Electronic Benefits Transfer cards (i.e. people who are involved in a government assistance program). Prime membership means customers can receive special product discounts, free same-day delivery, free monthly e-books and access to more of Amazon’s entertainment offerings. The reduced rate lasts for one year, but can be renewed up to four times according to Amazon, which says it intends to expand the offer to similar assistance programs in the future. The move by Amazon towards a lower-income market is an interesting one, especially as smaller rival Walmart is concentrating its efforts on the more affluent consumer says KeyBanc analyst Edward Yruma . This will increase the competitive pressure on other retailers trying to find their niche in between these two giants, writes Yruma. According to Yruma, 51% of US households are Amazon Prime members, and this new initiative will push that percentage even higher. While the stock has a very negative hedge fund confidence signal, the Street is much more bullish on Amazon’s outlook. Over the last three months, the stock has received 28 buy ratings and only 3 hold ratings. The average price target of $1,104 also represents further upside potential for the stock of close to 10% over the next 12 months. More recent articles about AMD: 3 Reasons Why You Should Drop Advanced Micro Devices, Inc. (AMD) Shares Here’s What Ken Fisher Up To: Apple Inc (AAPL), NVIDIA Corporation (NVDA), Amazon.com, Inc (AMZN) See Hedge Fund Whiz Benjamin Smith's Trades in Tech: Tesla Inc (TSLA), Advanced Micro Devices, Inc. (AMD), Snap Inc (SNAP) Advanced Micro Devices, Inc. (AMD) Launches Ryzen PRO Desktop Processors || Tiger Cub Rob Citrone Is Bullish on Valeant Pharmaceuticals Intl Inc (VRX), Advanced Micro Devices, Inc (AMD), Slashes Amazon.com, Inc. (AMZN): Image result for "Rob Citrone" Rob Citrone is fund manager of the $5.37 billion Discovery Capital Management fund. In Q1 Citrone made some interesting portfolio adjustments- initiating holdings in Valeant Pharmaceuticals Intl Inc (NYSE: VRX ) and Advanced Micro Devices, Inc (NASDAQ: AMD ) while slashing the fund’s holding of one of the market’s most popular stocks, e-commerce giant Amazon.com, Inc. (NASDAQ: AMZN ). Citrone began his career in Julian Robertson’s legendary fund Tiger Management giving him the ‘Tiger Cub’ nickname along with other big-name fund manager such as Steve Mandel and Lee Ainslie. Citrone, who founded Discovery in 1999, is a fan of macro bets and emerging markets- a strategy that saw the firm lose money in both 2014 and 2015. These losses were somewhat offset in 2016 when the fund made a 9% return- apparently from trades made in the last 2 months of the year alone. However the fund’s measured performance of 19.46% remains considerably below that of the average hedge fund (53.57%). Now let’s dig down into the fund manager’s key Q1 moves: New Hopes for Valeant Pharmaceuticals Perhaps surprisingly given fellow fund manager Bill Ackman’s recent exit from the stock with a $4 billion loss, Citrone initiated a new position in Valeant Pharma worth $5.11 million. So far the investment has paid off with shares up 28% since the last filing date. Rumors have now surfaced that Valeant intends to sell eye unit Bausch & Lomb’s surgery products business to Carl Zeiss Meditec AG, a $4.6 billion medical tech company based in Germany. The deal could be worth about $2 billion, sources told Bloomberg, but added that it could take several weeks for an agreement to be signed as the two companies are just in discussions for now. At the right price, a sale could be good news for the embattled health care stock Valeant which is trying to clear its massive $28.9 billion debt burden racked up from numerous acquisitions, poor sales and legal investigations into former pricing policies. This year Valeant has already sold three skincare brands to L’Oreal for $1.3 billion and its Dendreon cancer business to China’s Sanpower for $819 million. Story continues Analysts are more cautious on the stock’s outlook. TipRanks shows that in the last three months the stock has received 2 buy, 9 hold and 3 sell ratings. The average analyst price target of $18.20 now stands at a 46% upside from the current share price of just $12.51. Small Bite in AMD In Q1 Citrone also decided to start seriously investing in semiconductor company AMD with a new position worth $164.63 million. So far shares are down, with a decrease of over 12% since the last filing date. AMD is now seeing an unexpected boost in demand from rapidly exploding cryptocurrencies. Shares in AMD were up 7% on Tuesday making the stock the best-performer in the S&P 500 for the day after AMD revealed that cryptocurrencies are leading an upsurge in demand for its graphic cards. Bitcoin is up 200% this year, Ethereum an incredible 2900% year-to-date. AMD says that gaming continues to be the company’s main focus where it sees “solid demand” for its Polaris-based graphics cards. However it’s possible that the situation will not end as well as the market currently believes. In December 2013, the same situation occurred and the demand for AMD’s graphic cards proved very temporary. At the time, Bitcoin rose and then dropping by 80%. This could happen again. Now Bitcoin is arguably also being boosted by a kind of cryptocurrency euphoria which could make the downturn even more severe. Perhaps that is why AMD is trying to downplay the news with the gaming comment. The stock has a hold consensus rating from the Street, according to TipRanks which shows a spread of 6 buy, 9 hold and 3 sell ratings in the last three months. Due in part to the recent share gains, analysts are predicting downside of -8.74% to the average price target of $11.70 from the current share price. Slashing Amazon In Q1, Citrone slashed the fund’s Amazon holding by a considerable 61%. The fund’s remaining position in the e-commerce giant now stands at $165 million- making it the fund’s fourth biggest stock. And since the last filing date it has performed well with shares up 14%. Amazon has just announced that it will discount its Prime subscriber service by 49% to just $5.99/ month for customers with verified Electronic Benefits Transfer cards (i.e. people who are involved in a government assistance program). Prime membership means customers can receive special product discounts, free same-day delivery, free monthly e-books and access to more of Amazon’s entertainment offerings. The reduced rate lasts for one year, but can be renewed up to four times according to Amazon, which says it intends to expand the offer to similar assistance programs in the future. The move by Amazon towards a lower-income market is an interesting one, especially as smaller rival Walmart is concentrating its efforts on the more affluent consumer says KeyBanc analyst Edward Yruma . This will increase the competitive pressure on other retailers trying to find their niche in between these two giants, writes Yruma. According to Yruma, 51% of US households are Amazon Prime members, and this new initiative will push that percentage even higher. While the stock has a very negative hedge fund confidence signal, the Street is much more bullish on Amazon’s outlook. Over the last three months, the stock has received 28 buy ratings and only 3 hold ratings. The average price target of $1,104 also represents further upside potential for the stock of close to 10% over the next 12 months. More recent articles about AMD: 3 Reasons Why You Should Drop Advanced Micro Devices, Inc. (AMD) Shares Here’s What Ken Fisher Up To: Apple Inc (AAPL), NVIDIA Corporation (NVDA), Amazon.com, Inc (AMZN) See Hedge Fund Whiz Benjamin Smith's Trades in Tech: Tesla Inc (TSLA), Advanced Micro Devices, Inc. (AMD), Snap Inc (SNAP) Advanced Micro Devices, Inc. (AMD) Launches Ryzen PRO Desktop Processors || Vladimir Putin Meets With Ethereum's Founder: Russian President Vladimir Putin recently met with Vitalik Buterin, the founder of Ethereum , a crypto currency that rivals bitcoin. The meeting took place last week during the St. Petersburg Economic as part of Vitalik's plans to create contacts with Russian partners to implement blockchain technologies, according to a Bloomberg report . Ethereum also serves as a ledger for everything from currency contracts to property rights and can also eliminate intermediaries such as notaries, Bloomberg noted. Putin and Russia's position is that the digital economy isn't a separate industry, but the "foundation for creating brand new business models." And virtual currencies could be the back-bone of tomorrow's economy by making transactions happen quicker and safer. Meanwhile, Russia's central bank already uses an Ethereum-based blockchain to process online payments and confirm customer data with lenders. Perhaps more important, the government hasn't ruled out using Ethereum to develop a national virtual currency for the country at some point in the future. "Blockchain may have the same effect on businesses that the emergence on the internet once had -- it would change business models, and eliminate intermediaries such as escrow agents and clerks," said Vlad Martynov, an adviser for The Ethereum Foundation, a non-profit organization that backs the cryptocurrency. "If Russia implements it first, it will gain similar advantages to those the Western countries did at the start of the internet age." Related Link: Battle Of The Cryptos: Bitcoin Vs. Ethereum Brave New Coin Is The Bloomberg Of Blockchain See more from Benzinga Strategist: FANG Stocks Can Still Grow In A Sluggish Economy In A 'Blue Sky' Scenario, Signet Jewelers Could Regain Shine And Double In Value Expect Ambarella To Pay Near-Term Costs For Long-Term Goals © 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Vladimir Putin Meets With Ethereum's Founder: Russian President Vladimir Putin recently met with Vitalik Buterin, the founder ofEthereum, a crypto currency that rivals bitcoin.
The meeting took place last week during the St. Petersburg Economic as part of Vitalik's plans to create contacts with Russian partners to implement blockchain technologies, according to aBloomberg report.
Ethereum also serves as a ledger for everything from currency contracts to property rights and can also eliminate intermediaries such as notaries, Bloomberg noted.
Putin and Russia's position is that the digital economy isn't a separate industry, but the "foundation for creating brand new business models." And virtual currencies could be the back-bone of tomorrow's economy by making transactions happen quicker and safer.
Meanwhile, Russia's central bank already uses an Ethereum-based blockchain to process online payments and confirm customer data with lenders. Perhaps more important, the government hasn't ruled out using Ethereum to develop a national virtual currency for the country at some point in the future.
"Blockchain may have the same effect on businesses that the emergence on the internet once had -- it would change business models, and eliminate intermediaries such as escrow agents and clerks," said Vlad Martynov, an adviser for The Ethereum Foundation, a non-profit organization that backs the cryptocurrency. "If Russia implements it first, it will gain similar advantages to those the Western countries did at the start of the internet age."
Related Link:
Battle Of The Cryptos: Bitcoin Vs. Ethereum
Brave New Coin Is The Bloomberg Of Blockchain
See more from Benzinga
• Strategist: FANG Stocks Can Still Grow In A Sluggish Economy
• In A 'Blue Sky' Scenario, Signet Jewelers Could Regain Shine And Double In Value
• Expect Ambarella To Pay Near-Term Costs For Long-Term Goals
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Here's why FANG stocks will get stronger even in a slow growth economy, Goldman says: It doesn't seem to make sense. Why are tech high-flyers surging when economic growth expectations are faltering?
Goldman Sachs chief U.S. equity strategist David Kostin explained to CNBC why he expects the FANG stock rally to continue even in a sluggish economic environment.
"A modest growth environment means that growth is still relatively scarce. So the growth stocks … [where] tech is a prominent area, are likely to continue to do well and outperform," Kostin said Tuesday on CNBC's "Squawk on the Street.""Basically you want to be in tech and particularly where there is secular growth. And there is a group of stocks where you have revenue growth that is double digit, and that's still relatively rare."
FANG stocks, an acronym created by CNBC's Jim Cramer, are crushing the market this year with Facebook(FB)up 33 percent, Amazon(AMZN)up 34 percent, Netflix(NFLX)up 33 percent and Google parent Alphabet(GOOGL)up 26 percent through Tuesday versus the S&P 500's(^GSPC)8.5 percent return.
"You have a group of stocks that are going to grow 10, 15, 20 percent, in terms of revenues ... where they trade at 3, 4, 5 times enterprise value to sales. That's the sweet spot that we look for," the strategist said. FANG stocks "can continue to move higher."
Slow economic growth, which leads to the growth scarcity situation boosting technology stocks may last awhile.The May jobs number came insharply belowexpectations on Friday and U.S. economy grew at itsslowest pacein three years during the first quarter. In addition, the time line for PresidentDonald Trump'seconomic agenda keepsgetting delayed.
Kostin said he expects a modest growth environment during the rest of this year. And he predicted Trump's tax reform and infrastructure spending plans will likely be pushed out to 2018.
Counterintuitively, the strategist said if economic growth does improve, it will be negative for technology growth stocks."The big issue would be if you have economic growth accelerate, because in an economic acceleration environment, you want to be more value, more cyclicals as opposed to secular growth," he said.Kostin's investing playbook is similar to billionaire investor Stanley Druckenmiller's classic investment strategy of buying high-flying growth stocks during low growth economic environments.Druckenmiller is chief executive officer of the Duquesne Family Office and the former lead portfolio manager for George Soros. The billionaire's hedge fund has generated annualized returns of 30 percent during his investment career."(I'm) long this high-beta, high-growth stuff, companies that are investing in their businesses. Stuff that I think will do very well with low nominal growth," Druckenmiller said at The New York Times DealBook conference in November 2015.He also clarified why stronger economies are bad for equities in a 1988 Barron's interview."The best environment for stocks is a very dull, slow economy that the Federal Reserve is trying to get going," Druckenmiller said. "Once an economy reaches a certain level of acceleration, not only is the Fed no longer with you, but three bad things start to happen."The investor noted how in stronger growth economies the Federal Reserve takes liquidity out of the markets. In addition, he said companies build inventory for products and increase capital expenditures, which further diverts funds out of financial assets.
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• Cramer says it's possible bitcoin could reach $1 million one day || Here's why FANG stocks will get stronger even in a slow growth economy, Goldman says: It doesn't seem to make sense. Why are tech high-flyers surging when economic growth expectations are faltering? Goldman Sachs chief U.S. equity strategist David Kostin explained to CNBC why he expects the FANG stock rally to continue even in a sluggish economic environment. "A modest growth environment means that growth is still relatively scarce. So the growth stocks
[where] tech is a prominent area, are likely to continue to do well and outperform," Kostin said Tuesday on CNBC's " Squawk on the Street ." "Basically you want to be in tech and particularly where there is secular growth. And there is a group of stocks where you have revenue growth that is double digit, and that's still relatively rare." FANG stocks, an acronym created by CNBC's Jim Cramer, are crushing the market this year with Facebook ( FB ) up 33 percent, Amazon ( AMZN ) up 34 percent, Netflix ( NFLX ) up 33 percent and Google parent Alphabet ( GOOGL ) up 26 percent through Tuesday versus the S&P 500's ( ^GSPC ) 8.5 percent return. "You have a group of stocks that are going to grow 10, 15, 20 percent, in terms of revenues ... where they trade at 3, 4, 5 times enterprise value to sales. That's the sweet spot that we look for," the strategist said. FANG stocks "can continue to move higher." Slow economic growth, which leads to the growth scarcity situation boosting technology stocks may last awhile. The May jobs number came in sharply below expectations on Friday and U.S. economy grew at its slowest pace in three years during the first quarter. In addition, the time line for President Donald Trump's economic agenda keeps getting delayed . Kostin said he expects a modest growth environment during the rest of this year. And he predicted Trump's tax reform and infrastructure spending plans will likely be pushed out to 2018. Counterintuitively, the strategist said if economic growth does improve, it will be negative for technology growth stocks. "The big issue would be if you have economic growth accelerate, because in an economic acceleration environment, you want to be more value, more cyclicals as opposed to secular growth," he said. Kostin's investing playbook is similar to billionaire investor Stanley Druckenmiller's classic investment strategy of buying high-flying growth stocks during low growth economic environments. Druckenmiller is chief executive officer of the Duquesne Family Office and the former lead portfolio manager for George Soros. The billionaire's hedge fund has generated annualized returns of 30 percent during his investment career. "(I'm) long this high-beta, high-growth stuff, companies that are investing in their businesses. Stuff that I think will do very well with low nominal growth," Druckenmiller said at The New York Times DealBook conference in November 2015. He also clarified why stronger economies are bad for equities in a 1988 Barron's interview. "The best environment for stocks is a very dull, slow economy that the Federal Reserve is trying to get going," Druckenmiller said. "Once an economy reaches a certain level of acceleration, not only is the Fed no longer with you, but three bad things start to happen." The investor noted how in stronger growth economies the Federal Reserve takes liquidity out of the markets. In addition, he said companies build inventory for products and increase capital expenditures, which further diverts funds out of financial assets. More From CNBC Cramer Remix: What the rise in stocks, gold & Bitcoin means for your money Cramer counters Wall Street worries around markets rising in tandem Cramer says it's possible bitcoin could reach $1 million one day || Your first trade for Wednesday, June 7: The " Fast Money " traders shared their first moves for the market open. Tim Seymour was a buyer of Target (NYSE: TGT) . Karen Finerman was a buyer of Foot Locker (NYSE: FL) . Dan Nathan was a buyer of Intel (NASDAQ: INTC) . Guy Adami was a buyer of Restoration Hardware (NYSE: RH) . Trader disclosure: On June 6, 2017, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Tim Seymour is long ABX, AAPL, APC, AVP, BAC, BBRY, C, CLF, CVX, DO, DVYE, EDC, EWN, EWZ, F, FB, FCX, FXI, GM, GOOGL, GE, INTC, LQD, MAT, MOS, MCD, MUR, OIH, PG, RACE, RAI, RH, RL, SINA, SQ,T, TWTR, VALE, VRX, VZ, XOM. short: EEM, SPY, XRT. Karen Finerman is long AAL, BAC, BAC short calls, Bitcoin and other digital currencies, C, DAL, EEM, EPI, EWW, DVYE, FB, FL, GLMP, GLNG, GM, GOGO, GOOG, GOOGL, JPM, LYV, KORS, KORS calls, KORS puts, MA, SEDG, SPY puts, TACO, WIFI, WFM. Her firm is long ANTM, BAC calls, C, C calls, FB, FL, GOOG, GOOGL, GLNG, GMLP, JPM, JPM calls, KORS puts, LYV, PLCE, SPY puts, SPY put spreads, WIFI, UAL, her firm is short IWM, MDY. Dan Nathan is short SPY, long June XLV, XLI and XRT puts. Guy Adami is long CELG, EXAS, GDX, INTC, Guy Adami's wife, Linda Snow, works at Merck. More From CNBC Retail armageddon Your first trade for Tuesday, June 6 Vacation stocks a buy? 4 trades || Your first trade for Wednesday, June 7: The "Fast Money" traders shared their first moves for the market open.
Tim Seymour was a buyer of Target(NYSE: TGT).
Karen Finerman was a buyer of Foot Locker(NYSE: FL).
Dan Nathan was a buyer of Intel(NASDAQ: INTC).
Guy Adami was a buyer of Restoration Hardware(NYSE: RH).
Trader disclosure: On June 6, 2017, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Tim Seymour is long ABX, AAPL, APC, AVP, BAC, BBRY, C, CLF, CVX, DO, DVYE, EDC, EWN, EWZ, F, FB, FCX, FXI, GM, GOOGL, GE, INTC, LQD, MAT, MOS, MCD, MUR, OIH, PG, RACE, RAI, RH, RL, SINA, SQ,T, TWTR, VALE, VRX, VZ, XOM. short: EEM, SPY, XRT. Karen Finerman is long AAL, BAC, BAC short calls, Bitcoin and other digital currencies, C, DAL, EEM, EPI, EWW, DVYE, FB, FL, GLMP, GLNG, GM, GOGO, GOOG, GOOGL, JPM, LYV, KORS, KORS calls, KORS puts, MA, SEDG, SPY puts, TACO, WIFI, WFM. Her firm is long ANTM, BAC calls, C, C calls, FB, FL, GOOG, GOOGL, GLNG, GMLP, JPM, JPM calls, KORS puts, LYV, PLCE, SPY puts, SPY put spreads, WIFI, UAL, her firm is short IWM, MDY.Dan Nathan is short SPY, long June XLV, XLI and XRT puts. Guy Adami is long CELG, EXAS, GDX, INTC, Guy Adami's wife, Linda Snow, works at Merck.
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• Vacation stocks a buy? 4 trades || AMD rallies as cryptocurrency miners snap up graphics chips: By Noel Randewich SAN FRANCISCO (Reuters) - Shares of Advanced Micro Devices surged nearly 9 percent on Tuesday boosted by strong demand for its chips from cryptocurrency miners, leaving short sellers at a loss for the year. A rally in cryptocurrency Ethereum has boosted demand for graphics chips used by people to "mine" it and other digital currencies, with some of AMD's processors sold out on Amazon.com and other retail websites. Mining for cryptocurrency involves using networks of computers to validate transactions and prevent counterfeit by solving complex mathematical problems. New currency is generated as a reward to the computer operators. The emergence of Bitcoin in 2009 made cryptocurrency mining popular. Recent rallies in the price of Bitcoin and newer digital currency Ethereum have rekindled interest. Ethereum miners spending as little as $2,000 to build mining computers using graphics processing units, or GPUs, from AMD or its rival Nvidia could break even within three or four months, estimated RBC analyst Mitch Steves in a note to clients on Tuesday. "We think economics suggests that GPUs continue to be sold out," Steves wrote. "We think GPU demand will remain robust as long as the return is under (about) one year." As of Monday, AMD short sellers had been up about $15 million for 2017. But Tuesday’s share surge left them at a loss of $125 million on paper for the year, according to S3 Partners, a financial analytics firm. That follows losses of over $700 million for AMD short sellers last year, when the stock tripled. The stock last traded up 7.3 percent at $12.06. "There are going to be a lot of traders saying, 'This is the last straw. I'm out,'" said Ihor Dusaniwsky, S3's managing director of research. AMD spokesman Drew Prairie acknowledged that interest from cryptocurrency miners was contributing to demand for the company's chips, but he stressed that game enthusiasts are the core market. JPMorgan Chase, Microsoft Corp, Intel Corp and more than two dozen other companies have teamed up to develop standards to make it easier for enterprises to use technology related to Ethereum. Adding to support for AMD's stock, Apple on Monday refreshed its lineup of Mac personal computers, including upgraded graphics chips from AMD. || AMD rallies as cryptocurrency miners snap up graphics chips: By Noel Randewich
SAN FRANCISCO (Reuters) - Shares of Advanced Micro Devices surged nearly 9 percent on Tuesday boosted by strong demand for its chips from cryptocurrency miners, leaving short sellers at a loss for the year.
A rally in cryptocurrency Ethereum has boosted demand for graphics chips used by people to "mine" it and other digital currencies, with some of AMD's processors sold out on Amazon.com and other retail websites.
Mining for cryptocurrency involves using networks of computers to validate transactions and prevent counterfeit by solving complex mathematical problems. New currency is generated as a reward to the computer operators.
The emergence of Bitcoin in 2009 made cryptocurrency mining popular. Recent rallies in the price of Bitcoin and newer digital currency Ethereum have rekindled interest.
Ethereum miners spending as little as $2,000 to build mining computers using graphics processing units, or GPUs, from AMD or its rival Nvidia could break even within three or four months, estimated RBC analyst Mitch Steves in a note to clients on Tuesday.
"We think economics suggests that GPUs continue to be sold out," Steves wrote. "We think GPU demand will remain robust as long as the return is under (about) one year."
As of Monday, AMD short sellers had been up about $15 million for 2017. But Tuesday’s share surge left them at a loss of $125 million on paper for the year, according to S3 Partners, a financial analytics firm.
That follows losses of over $700 million for AMD short sellers last year, when the stock tripled.
The stock last traded up 7.3 percent at $12.06.
"There are going to be a lot of traders saying, 'This is the last straw. I'm out,'" said Ihor Dusaniwsky, S3's managing director of research.
AMD spokesman Drew Prairie acknowledged that interest from cryptocurrency miners was contributing to demand for the company's chips, but he stressed that game enthusiasts are the core market.
JPMorgan Chase, Microsoft Corp, Intel Corp and more than two dozen other companies have teamed up to develop standards to make it easier for enterprises to use technology related to Ethereum.
Adding to support for AMD's stock, Apple on Monday refreshed its lineup of Mac personal computers, including upgraded graphics chips from AMD. || Bitcoin surges 8% to record near $3,000 before giving up some gains: Bitcoin(Exchange:BTC=-USS)surged more than 8 percent at one point on Tuesday to a record, breaking above $2,900.
The digital currency hit a high of $2,967.48 earlier in the session before giving back some gains to trade at $2,779.67, according toCoinDesk. The cryptocurrency came off its record shortly afterMark Cuban said it was in a bubble.
The Bitcoin Investment Trust (GBTC) fund, which tracks bitcoin, rose 3.3 percent and traded record highs.
Ethereum, an alternative cryptocurrency to bitcoin, also rose on Tuesday, advancing nearly 3 percent to build on Monday's record-setting session andits massive year-to-date gains.
Bitcoin has also had a stellar year, rising nearly 200 percent, easily outperforming stock market benchmarks like the S&P 500(^GSPC)and the Nasdaq composite(^IXIC)in 2017. Entering Tuesday's session, the S&P and Nasdaq had risen 8.81 percent and 16.9 percent for the year, respectively.
Bitcoin in 2017
Source: FactSet
Sean Walsh, a partner at Redwood City Ventures, which invests in bitcoin and blockchain companies, said in a note that bitcoin's price should continue rising.
"It may sound like hyperbole, but I simply cannot emphasize enough how mismatched the quantity of whole Bitcoins and the population of potential global buyers is. Bitcoin is available for purchase to 3 Billion Internet-connected adults across every country in the world," Walsh said. "We produce just 1 new Bitcoin each month for 55,000 of these people to fight over."
Brian Kelly, CEO and founder of BKCM and a CNBC contributor, echoed Walsh's comments in an email. "We are in the first years of what is likely to be a multi-year bull market. Of course there will be corrections and even crashes along the way, but bitcoin is here to stay."
In fact, the bitcoin performance has come with greater volatility. On May 25,it plunged more than $300 after skyrocketingmore than 12 percent in that session.
A contributing factor to bitcoin's recent surge is growing demand from Asia, especially in Japan. Japanese interest has risen ever since the government approved bitcoin as a legal payment method in April.
Investors also plowed more money into the currency after Minneapolis Federal Reserve President Neel Kashkari commented on the blockchain technology behind bitcoin, saying it "has more potential than bitcoin itself."
Blockchain is a record of transactions and historical value categorized into blocks by a network of computers. The technology has spurred the recent creation of other digital currencies.
—CNBC's Evelyn Cheng contributed to this report.
WATCH: Here are three big risks to the bitcoin rally: Trader
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• Cramer Remix: Here's what’s really killing retail
• Cramer discovers the catalyst that could finally boost oil prices
• Cramer reveals what Apple's HomePod and J.Crew's departed CEO have in common || Bitcoin surges 8% to record near $3,000 before giving up some gains: Bitcoin(Exchange:BTC=-USS)surged more than 8 percent at one point on Tuesday to a record, breaking above $2,900.
The digital currency hit a high of $2,967.48 earlier in the session before giving back some gains to trade at $2,779.67, according toCoinDesk. The cryptocurrency came off its record shortly afterMark Cuban said it was in a bubble.
The Bitcoin Investment Trust (GBTC) fund, which tracks bitcoin, rose 3.3 percent and traded record highs.
Ethereum, an alternative cryptocurrency to bitcoin, also rose on Tuesday, advancing nearly 3 percent to build on Monday's record-setting session andits massive year-to-date gains.
Bitcoin has also had a stellar year, rising nearly 200 percent, easily outperforming stock market benchmarks like the S&P 500(^GSPC)and the Nasdaq composite(^IXIC)in 2017. Entering Tuesday's session, the S&P and Nasdaq had risen 8.81 percent and 16.9 percent for the year, respectively.
Bitcoin in 2017
Source: FactSet
Sean Walsh, a partner at Redwood City Ventures, which invests in bitcoin and blockchain companies, said in a note that bitcoin's price should continue rising.
"It may sound like hyperbole, but I simply cannot emphasize enough how mismatched the quantity of whole Bitcoins and the population of potential global buyers is. Bitcoin is available for purchase to 3 Billion Internet-connected adults across every country in the world," Walsh said. "We produce just 1 new Bitcoin each month for 55,000 of these people to fight over."
Brian Kelly, CEO and founder of BKCM and a CNBC contributor, echoed Walsh's comments in an email. "We are in the first years of what is likely to be a multi-year bull market. Of course there will be corrections and even crashes along the way, but bitcoin is here to stay."
In fact, the bitcoin performance has come with greater volatility. On May 25,it plunged more than $300 after skyrocketingmore than 12 percent in that session.
A contributing factor to bitcoin's recent surge is growing demand from Asia, especially in Japan. Japanese interest has risen ever since the government approved bitcoin as a legal payment method in April.
Investors also plowed more money into the currency after Minneapolis Federal Reserve President Neel Kashkari commented on the blockchain technology behind bitcoin, saying it "has more potential than bitcoin itself."
Blockchain is a record of transactions and historical value categorized into blocks by a network of computers. The technology has spurred the recent creation of other digital currencies.
—CNBC's Evelyn Cheng contributed to this report.
WATCH: Here are three big risks to the bitcoin rally: Trader
More From CNBC
• Cramer Remix: Here's what’s really killing retail
• Cramer discovers the catalyst that could finally boost oil prices
• Cramer reveals what Apple's HomePod and J.Crew's departed CEO have in common || Bitcoin surges 8% to record near $3,000 before giving up some gains: Bitcoin (Exchange:BTC=-USS) surged more than 8 percent at one point on Tuesday to a record, breaking above $2,900. The digital currency hit a high of $2,967.48 earlier in the session before giving back some gains to trade at $2,779.67, according to CoinDesk . The cryptocurrency came off its record shortly after Mark Cuban said it was in a bubble . The Bitcoin Investment Trust (GBTC) fund, which tracks bitcoin, rose 3.3 percent and traded record highs. Ethereum, an alternative cryptocurrency to bitcoin, also rose on Tuesday, advancing nearly 3 percent to build on Monday's record-setting session and its massive year-to-date gains . Bitcoin has also had a stellar year, rising nearly 200 percent, easily outperforming stock market benchmarks like the S&P 500 ( ^GSPC ) and the Nasdaq composite ( ^IXIC ) in 2017. Entering Tuesday's session, the S&P and Nasdaq had risen 8.81 percent and 16.9 percent for the year, respectively. Bitcoin in 2017 Source: FactSet Sean Walsh, a partner at Redwood City Ventures, which invests in bitcoin and blockchain companies, said in a note that bitcoin's price should continue rising. "It may sound like hyperbole, but I simply cannot emphasize enough how mismatched the quantity of whole Bitcoins and the population of potential global buyers is. Bitcoin is available for purchase to 3 Billion Internet-connected adults across every country in the world," Walsh said. "We produce just 1 new Bitcoin each month for 55,000 of these people to fight over." Brian Kelly, CEO and founder of BKCM and a CNBC contributor, echoed Walsh's comments in an email. "We are in the first years of what is likely to be a multi-year bull market. Of course there will be corrections and even crashes along the way, but bitcoin is here to stay." In fact, the bitcoin performance has come with greater volatility. On May 25, it plunged more than $300 after skyrocketing more than 12 percent in that session. A contributing factor to bitcoin's recent surge is growing demand from Asia, especially in Japan. Japanese interest has risen ever since the government approved bitcoin as a legal payment method in April. Story continues Investors also plowed more money into the currency after Minneapolis Federal Reserve President Neel Kashkari commented on the blockchain technology behind bitcoin, saying it " has more potential than bitcoin itself ." Blockchain is a record of transactions and historical value categorized into blocks by a network of computers. The technology has spurred the recent creation of other digital currencies. CNBC's Evelyn Cheng contributed to this report. WATCH: Here are three big risks to the bitcoin rally: Trader More From CNBC Cramer Remix: Here's whats really killing retail Cramer discovers the catalyst that could finally boost oil prices Cramer reveals what Apple's HomePod and J.Crew's departed CEO have in common || A Wall Street bank used bitcoin to prove that NVIDIA is better than its competitors: The logo of Nvidia Corporation is seen during the annual Computex computer exhibition in Taipei, Taiwan May 30, 2017. REUTERS/Tyrone Siu (The logo of Nvidia Corporation is seen during the annual Computex computer exhibition in TaipeiThomson Reuters) NVIDIA stock is a darling among millennial investors, and bitcoin could be a reason why they are right to love the stock. NVIDIA makes graphics processing units, also known as GPUs or graphics cards, and it competes with companies like AMD. When the average consumer shops for a GPU, they are primarily looking at performance versus price, trying to find the best bang for their buck. That same measure doesn't work as well when you scale that comparison up to giant data centers. Performance and price are important, but hundreds or thousands of GPUs also draw hundreds or thousands of times the amount of power a consumer computer might. Power consumption becomes much more important at larger scales. It's hard to determine how a collection of GPUs might draw power when you only have a couple of them lying around, but RBC analysts did their best, and that is where bitcoin comes in. The whole bitcoin ecosystem relies on individual computers banding together to solve complex math problems. Anyone can use their computer to help solve these problems, a process known as mining. Mining tends to work faster when running on powerful GPUs. RBC took this theory, strung together several GPUs, and tasked them with helping solve bitcoin's fancy math problems. It did this for NVIDIA and several competitors. The idea is that the GPU-intensive process of mining bitcoin would force the GPUs into overtime and make them draw more power. It's as close of an approximation to a full-scale data center as RBC could put together. The firm called it a "thought experiment." The result of the experiment favored NVIDIA processors over competitors like AMD, when comparing power consumption during bitcoin mining. Companies building huge data centers are probably conducting their own research that more closely resembles what they would see at scale, but the RBC experiment serves to illustrate another reason NVIDIA holds the top spot for GPU makers. Story continues As technology like machine learning, augmented reality and virtual reality pick up momentum, demand for GPUs will increase in order to run the graphics intensive technologies. If NVIDIA maintains its lead in power consumption, it could capture more of the growing demand, and see its shares rise in the process. RBC has a price target of $150 for NVIDIA, about two dollars higher than where shares of the company opened on Tuesday. Click here to watch NVIDIA shares move live... NVIDIA (Markets Insider) NOW WATCH: 9 phrases on your résumé that make hiring managers cringe More From Business Insider Bitcoin is getting close to its all-time high There's an easy way to bet on bitcoin — but it'll cost you Bitcoin is taking off after China's biggest exchanges allow withdrawals || A Wall Street bank used bitcoin to prove that NVIDIA is better than its competitors: (The logo of Nvidia Corporation is seen during the annual Computex computer exhibition in TaipeiThomson Reuters)
NVIDIA stock is adarling among millennial investors,andbitcoincould be a reason why they are right to love the stock.
NVIDIA makes graphics processing units, also known as GPUs or graphics cards, and it competes with companies like AMD. When the average consumer shops for a GPU, they are primarily looking at performance versus price, trying to find the best bang for their buck.
That same measure doesn't work as well when you scale that comparison up to giant data centers. Performance and price are important, but hundreds or thousands of GPUs also draw hundreds or thousands of times the amount of power a consumer computer might. Power consumption becomes much more important at larger scales.
It's hard to determine how a collection of GPUs might draw power when you only have a couple of them lying around, but RBC analysts did their best, and that is where bitcoin comes in.
The wholebitcoinecosystem relies on individual computers banding together to solve complex math problems. Anyone can use their computer to help solve these problems, a process known as mining. Mining tends to work faster when running on powerful GPUs.
RBC took this theory, strung together several GPUs, and tasked them with helping solve bitcoin's fancy math problems. It did this for NVIDIA and several competitors.
The idea is that the GPU-intensive process of mining bitcoin would force the GPUs into overtime and make them draw more power. It's as close of an approximation to a full-scale data center as RBC could put together. The firm called it a "thought experiment."
The result of the experiment favored NVIDIA processors over competitors like AMD, when comparing power consumption during bitcoin mining.
Companies building huge data centers are probably conducting their own research that more closely resembles what they would see at scale, but the RBC experiment serves to illustrate another reason NVIDIA holds the top spot for GPU makers.
As technology like machine learning, augmented reality and virtual reality pick up momentum, demand for GPUs will increase in order to run the graphics intensive technologies. If NVIDIA maintains its lead in power consumption, it could capture more of the growing demand, and see its shares rise in the process.
RBC has a price target of $150 for NVIDIA, about two dollars higher than whereshares of the company opened on Tuesday.
(Markets Insider)
NOW WATCH:9 phrases on your résumé that make hiring managers cringe
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• Bitcoin is getting close to its all-time high
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• Bitcoin is taking off after China's biggest exchanges allow withdrawals || Wall Street firms are betting that the technology behind bitcoin could help them cut jobs: Bitcoin (A Bitcoin sign is seen in a window in Toronto.Reuters/Mark Blinch) Wall Street is convinced that blockchain is set to radically transform the world of finance. But exactly how and when that transformation will transpire is uncertain. Blockchain, which gained notoriety as the technology behind the cryptocurrency bitcoin, is thought to have the potential to improve numerous businesses including banking, payments, and the capital markets. Cognizant , a US-based digital consulting firm, recently surveyed over 1,500 executives from over 570 financial services firms on their respective strategies for integrating the technology into their infrastructure. According to the firm, there are a few things financial execs are certain about when it comes to the future of blockchain: blockchain is important, it will save them money, and it will lead to job losses. "The vast majority of respondents (90%) said their firms has identified or is the process of identifying functions or processes that can be automated with blockchain," the report said. And 3/4 of those surveyed said they believe blockchain will enable them to automate at least 2.5% of their workforce. For large financial firms with tens of thousands of employees that could be hundreds of jobs. And this would be on top of automation that has already taken place. According to the report, Cognizant helped a US commercial bank use Ethereum , a blockchain-based platform, to transfer deeds between buyers and sellers without the need of a middle-man. Wall Streeters, you have been warned. NOW WATCH: HENRY BLODGET: Bitcoin could go to $1 million (or fall to $0) More From Business Insider 'This is huge': National security experts were floored by the leaked NSA document on Russian election hack One map shows how much trouble Qatar Airways may be in 'Psychologically scarred' millennials are killing dozens of industries — and it's their parents' fault || Wall Street firms are betting that the technology behind bitcoin could help them cut jobs: (A Bitcoin sign is seen in a window in Toronto.Reuters/Mark Blinch)
Wall Street is convinced thatblockchainis set to radically transform the world of finance. But exactly how and when that transformation will transpire is uncertain.
Blockchain, which gained notoriety as the technology behind the cryptocurrency bitcoin,is thought to have the potential to improve numerous businesses including banking, payments, and the capital markets.
Cognizant, a US-based digital consulting firm, recentlysurveyed over 1,500 executives from over 570 financial services firmson their respective strategies for integrating the technology into their infrastructure. According to the firm, there are a few things financial execs are certain about when it comes to the future of blockchain: blockchain is important, it will save them money, and it will lead to job losses.
"The vast majority of respondents (90%) said their firms has identified or is the process of identifying functions or processes that can be automated with blockchain," the report said.
And 3/4 of those surveyed said they believe blockchain will enable them to automate at least 2.5% of their workforce. For large financial firms with tens of thousands of employees that could be hundreds of jobs.
And this would be on top of automation that has already taken place.
According to the report, Cognizant helped a US commercial bank useEthereum, a blockchain-based platform,to transfer deeds between buyers and sellers without the need of a middle-man.
Wall Streeters, you have been warned.
NOW WATCH:HENRY BLODGET: Bitcoin could go to $1 million (or fall to $0)
More From Business Insider
• 'This is huge': National security experts were floored by the leaked NSA document on Russian election hack
• One map shows how much trouble Qatar Airways may be in
• 'Psychologically scarred' millennials are killing dozens of industries — and it's their parents' fault || MARK CUBAN: Bitcoin is a 'bubble': Add billionaire Mark Cuban to those who are skeptical of bitcoin and the cryptocurrency universe. "I think it's in a bubble. I just don't know when or how much it corrects. When everyone is bragging about how easy they are making $=bubble," Cuban said in a tweetstorm on Tuesday.
Cuban's tweetstorm comes on the heels ofbitcoin's latest record highnear $2,900 a coin. The cryptocurrency has gained in 33 of the past 38 sessions, tacking on 144% over that time. It's up 200% so far in 2017.
Here's Cuban's full tweetstorm...
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• Bitcoin is getting close to its all-time high
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• Bitcoin is taking off after China's biggest exchanges allow withdrawals
[Social Media Buzz]
LIVE: Profit = $9,151.00 (2.41 %). BUY B139.98 @ $2,712.52 (#BTCe). SELL @ $2,765.79 (#Kraken) #bitcoin #btc - http://www.projectcoin.org || #Monacoin 38.7円→[Zaif] -円→[もなとれ]
#NEM #XEM 23.61円↓[Zaif]
#Bitcoin 306,945円↑[Zaif]
06/09 06:00
口座開設はこちらで！ https://goo.gl/31dyoO || $2824.00 at 01:45 UTC [24h Range: $2691.84 - $2824.00 Volume: 12465 BTC] || $2787.99 at 11:00 UTC [24h Range: $2612.50 - $2869.64 Volume: 17479 BTC] || Current price of Bitcoin is $2753.00. || #MonaCoin #MONA $0.350753 (14.53%)...
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2823.81, 2947.71, 2958.11, 2659.63, 2717.02, 2506.37, 2464.58, 2518.56, 2655.88, 2548.29
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Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 6675.35, 6456.58, 6550.16, 6499.27, 6734.82, 6769.94, 6776.55, 6729.74, 6083.69, 6162.48, 6173.23, 6249.18, 6093.67, 6157.13, 5903.44, 6218.30, 6404.00, 6385.82, 6614.18, 6529.59, 6597.55, 6639.14, 6673.50, 6856.93, 6773.88, 6741.75, 6329.95, 6394.71, 6228.81, 6238.05, 6276.12, 6359.64, 6741.75, 7321.04, 7370.78, 7466.86, 7354.13, 7419.29, 7418.49, 7711.11, 8424.27, 8181.39, 7951.58, 8165.01, 8192.15, 8218.46, 8180.48, 7780.44, 7624.91, 7567.15, 7434.39, 7032.85, 7068.48, 6951.80, 6753.12, 6305.80, 6568.23, 6184.71, 6295.73, 6322.69, 6297.57, 6199.71, 6308.52, 6334.73, 6580.63, 6423.76, 6506.07, 6308.53, 6488.76, 6376.71, 6534.88, 6719.96, 6763.19, 6707.26, 6884.64, 7096.28, 7047.16, 6978.23, 7037.58, 7193.25, 7272.72, 7260.06, 7361.66, 6792.83, 6529.17, 6467.07, 6225.98, 6300.86, 6329.70, 6321.20.
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[Bitcoin Technical Analysis for 2018-09-11]
Volume: 3849910000, RSI (14-day): 39.01, 50-day EMA: 6803.27, 200-day EMA: 7506.65
[Wider Market Context]
Gold Price: 1195.40, Gold RSI: 44.39
Oil Price: 69.25, Oil RSI: 54.52
[Recent News (last 7 days)]
Bitcoin ETN Suspension Not a Big Deal: Securities Lawyer: In July, Sweden’s XBT Provider introduced a Bitcoin exchange-traded note (ETN) to the US market. This week, the US Securities and Exchange Commission (SEC)suspended the ETNfor 10 days.
On September 10, the SEC released an official statement regarding its decision to suspend theBitcoin Tracker One ETNfor ten days, until Sep.t 20. The statement, released on the SEC website, explicitly stated that the two ETNs of XBT Provider caused confusion amongst investors.
Essentially, the SEC has said that Bitcoin Tracker One (CXBTF) and Ether Tracker One (CETHF) directly or indirectly misled investors by marketing the two products in a way that did not clearly describe the difference between an ETF and an ETN on digital assets.
The SECsaid:
“The Commission temporarily suspended trading in the securities CXBTF and CETHF because of confusion amongst market participants regarding these instruments. This order was entered pursuant to Section 12(k) of the Securities Exchange Act of 1934 (Exchange Act).”
According to Jake Chervinsky, an enforcement defense & securities litigation attorney at Kobre Kim LLP, the SEC’s suspension of the two ETNs of XBT Provider has no relation to the regulatory state of Bitcoin and ETH, the native cryptocurrency of Ethereum, in the US.
Rather, Chervinskyexplainedthat CXBTF and CETHF failed to provide a lack of current, consistent, and accurate information on their ETNs. It is possible that buyers of the CXBTF and CETHF were misled in the process of investing in cryptocurrencies in the US market, possibly into thinking that the two instruments were ETFs.
“This is a problem with CXBTF and CETHF, not bitcoin or ether. As the full SEC order of suspension explains, the issue is ‘a lack of current, consistent and accurate information’ on these products, such as whether they are ETFs, ETNs, or something else,” Chervinsky said.
While ETNs are similar to ETFs in that investors can still benefit from the price movement of a target asset, stock, or commodity, ETNs do not represent ownership. For instance, when an investor invests in Bitcoin through an ETF, the investor can receive BTC in its actual form from the ETF provider.
With ETNs, investors are investing in structured products issued as senior debt notes that have no insurance and are vulnerable to credit risk.
ETNs can be reliable depending on their providers and the track record of the asset itself. But, it does not offer the same level of protection, insurance, and credit risk mitigation as an ETF.
Hence, for the SEC, if an investor purchases Bitcoin ETNs like CXBTF and CETHT under the assumption that they offer the services of ETFs, it can be a problem. The SEC needs both investors and the ETN provider to acknowledge the difference between an ETF and ETF, to avoid market confusion.
Many investors in the cryptocurrency market have described the extensive reporting on the SEC’s decision to suspend two Bitcoin and Ether ETNs as FUD (fear, uncertainty, and doubt), and it is hard to say it isn’t, as the suspension of CXBTF and CETHT is not significant and certainly not enough to have any sort of impact on their underlying digital assets.
Images from Shutterstock
The postBitcoin ETN Suspension Not a Big Deal: Securities Lawyerappeared first onCCN. || Bitcoin ETN Suspension Not a Big Deal: Securities Lawyer: sec suspends bitcoin tracker one trading In July, Swedens XBT Provider introduced a Bitcoin exchange-traded note (ETN) to the US market. This week, the US Securities and Exchange Commission (SEC) suspended the ETN for 10 days. On September 10, the SEC released an official statement regarding its decision to suspend the Bitcoin Tracker One ETN for ten days, until Sep.t 20. The statement, released on the SEC website, explicitly stated that the two ETNs of XBT Provider caused confusion amongst investors. Essentially, the SEC has said that Bitcoin Tracker One (CXBTF) and Ether Tracker One (CETHF) directly or indirectly misled investors by marketing the two products in a way that did not clearly describe the difference between an ETF and an ETN on digital assets. The SEC said : The Commission temporarily suspended trading in the securities CXBTF and CETHF because of confusion amongst market participants regarding these instruments. This order was entered pursuant to Section 12(k) of the Securities Exchange Act of 1934 (Exchange Act). Why Did the SEC Suspend it? SEC ICO Cryptocurrency According to Jake Chervinsky, an enforcement defense & securities litigation attorney at Kobre Kim LLP, the SECs suspension of the two ETNs of XBT Provider has no relation to the regulatory state of Bitcoin and ETH, the native cryptocurrency of Ethereum, in the US. Rather, Chervinsky explained that CXBTF and CETHF failed to provide a lack of current, consistent, and accurate information on their ETNs. It is possible that buyers of the CXBTF and CETHF were misled in the process of investing in cryptocurrencies in the US market, possibly into thinking that the two instruments were ETFs. This is a problem with CXBTF and CETHF, not bitcoin or ether. As the full SEC order of suspension explains, the issue is a lack of current, consistent and accurate information on these products, such as whether they are ETFs, ETNs, or something else, Chervinsky said. While ETNs are similar to ETFs in that investors can still benefit from the price movement of a target asset, stock, or commodity, ETNs do not represent ownership. For instance, when an investor invests in Bitcoin through an ETF, the investor can receive BTC in its actual form from the ETF provider. Story continues With ETNs, investors are investing in structured products issued as senior debt notes that have no insurance and are vulnerable to credit risk. ETNs can be reliable depending on their providers and the track record of the asset itself. But, it does not offer the same level of protection, insurance, and credit risk mitigation as an ETF. Hence, for the SEC, if an investor purchases Bitcoin ETNs like CXBTF and CETHT under the assumption that they offer the services of ETFs, it can be a problem. The SEC needs both investors and the ETN provider to acknowledge the difference between an ETF and ETF, to avoid market confusion. Not a Big Deal Many investors in the cryptocurrency market have described the extensive reporting on the SECs decision to suspend two Bitcoin and Ether ETNs as FUD (fear, uncertainty, and doubt), and it is hard to say it isnt, as the suspension of CXBTF and CETHT is not significant and certainly not enough to have any sort of impact on their underlying digital assets. Images from Shutterstock The post Bitcoin ETN Suspension Not a Big Deal: Securities Lawyer appeared first on CCN . || Bitcoin ETN Suspension Not a Big Deal: Securities Lawyer: In July, Sweden’s XBT Provider introduced a Bitcoin exchange-traded note (ETN) to the US market. This week, the US Securities and Exchange Commission (SEC)suspended the ETNfor 10 days.
On September 10, the SEC released an official statement regarding its decision to suspend theBitcoin Tracker One ETNfor ten days, until Sep.t 20. The statement, released on the SEC website, explicitly stated that the two ETNs of XBT Provider caused confusion amongst investors.
Essentially, the SEC has said that Bitcoin Tracker One (CXBTF) and Ether Tracker One (CETHF) directly or indirectly misled investors by marketing the two products in a way that did not clearly describe the difference between an ETF and an ETN on digital assets.
The SECsaid:
“The Commission temporarily suspended trading in the securities CXBTF and CETHF because of confusion amongst market participants regarding these instruments. This order was entered pursuant to Section 12(k) of the Securities Exchange Act of 1934 (Exchange Act).”
According to Jake Chervinsky, an enforcement defense & securities litigation attorney at Kobre Kim LLP, the SEC’s suspension of the two ETNs of XBT Provider has no relation to the regulatory state of Bitcoin and ETH, the native cryptocurrency of Ethereum, in the US.
Rather, Chervinskyexplainedthat CXBTF and CETHF failed to provide a lack of current, consistent, and accurate information on their ETNs. It is possible that buyers of the CXBTF and CETHF were misled in the process of investing in cryptocurrencies in the US market, possibly into thinking that the two instruments were ETFs.
“This is a problem with CXBTF and CETHF, not bitcoin or ether. As the full SEC order of suspension explains, the issue is ‘a lack of current, consistent and accurate information’ on these products, such as whether they are ETFs, ETNs, or something else,” Chervinsky said.
While ETNs are similar to ETFs in that investors can still benefit from the price movement of a target asset, stock, or commodity, ETNs do not represent ownership. For instance, when an investor invests in Bitcoin through an ETF, the investor can receive BTC in its actual form from the ETF provider.
With ETNs, investors are investing in structured products issued as senior debt notes that have no insurance and are vulnerable to credit risk.
ETNs can be reliable depending on their providers and the track record of the asset itself. But, it does not offer the same level of protection, insurance, and credit risk mitigation as an ETF.
Hence, for the SEC, if an investor purchases Bitcoin ETNs like CXBTF and CETHT under the assumption that they offer the services of ETFs, it can be a problem. The SEC needs both investors and the ETN provider to acknowledge the difference between an ETF and ETF, to avoid market confusion.
Many investors in the cryptocurrency market have described the extensive reporting on the SEC’s decision to suspend two Bitcoin and Ether ETNs as FUD (fear, uncertainty, and doubt), and it is hard to say it isn’t, as the suspension of CXBTF and CETHT is not significant and certainly not enough to have any sort of impact on their underlying digital assets.
Images from Shutterstock
The postBitcoin ETN Suspension Not a Big Deal: Securities Lawyerappeared first onCCN. || Bitcoin Mutual Fund Launches in Canada: First Block Capital Inc., a Canadian cryptocurrency andblockchaininvestment company, has announced that its bitcoin trust, FBC Bitcoin Trust, has achieved mutual fund status inCanada, allowing investors to place funds in registered accounts such as a Tax Free Savings Account (TFSA) or Registered Retirement Savings Plan (RRSP).
The trust is available on NEO Connect, a fund distribution platform, under the ticker FBCBT, and is available to accredited investors only. Advisors can trade the fund with the same efficiency and ease as trading ETFs.
NEO Connect allows daily settlements, removing the previous 30-day redemption clause.
“At First Block, we provide investment exposure tobitcoinby removing the complicated barriers to investing directly in the cryptocurrency,” Sean Clark, CEO and co-founder of First Block, said in a prepared statement. “As the market leader in providing investment vehicles based on blockchain and cryptocurrency in Canada, we are very happy to make our fund more accessible to the accredited investor community. In this fast-changing world, NEO is the perfect partner with whom we have seized the opportunity to grow our fund within their proven and rapidly expanding fund distribution network.”
The advisors search for the symbol on NEO Connect with existing equities trading tools and select the number of units they want to purchase on behalf of their clients. Once they hit “buy,” the order executes at the end of the day at net asset value, without “bid” or “ask” spreads. The resulting position automatically integrates into the client accounts.
The trust will give investors exposure to bitcoin without having to acquire, hold, or manage the actual bitcoins. Trust units are considered a qualified investment in a mutual fund trust under the Tax Act, and the fund has surpassed 150 unit holders in less than a year since its launch.
The trust has been approved by the BCSC (British Columbia Securities Commission) and OSC (Ontario Securities Commission), according to First Block Capital, and marks the first and only product approved of its kind in Canada.
“Today, for the first time in Canada, accredited investors working with investment advisors can seamlessly take positions in bitcoin through the FBC Bitcoin Trust,” said Joe Schmitt, president and CEO of NEO. “As the world evolves, we are very pleased our unique fund distribution platform can help the investment community access, with ease and efficiency, an ever-expanding spectrum of new and innovative asset classes.”
“Our goal is to make investments in the digital currency asset class more accessible, and we are one step closer to achieving this goal by allowing unit holders to place units in government sponsored tax efficient vehicles, and by providing daily liquidity through NEO Connect, a fund distribution platform with a rapidly growing dealer network,” said Marc van der Chijs, co-founder and chief investment officer of First Block. “With this accomplishment, we continue to push Canada forward as a world leader in regulated blockchain and cryptocurrency investment vehicles.”
Also read:Canada’s only actively managed cryptocurrency fund now 91% cash
First Block expects most FBC Bitcoin Trust investors will start to move units in the first month. Registered broker dealer firms which First Block has worked with will manage all transfers to prepare for the fund’s launch.
NEO Connect, which claims the distinction of being Canada’s sole fund distribution platform permitting prospectus and private/offering memorandum funds to be bought and redeemed the way ETFs are, distributes 46 funds managed by three asset managers over 15 dealer networks, servicing nearly $600 million worth of assets.
Images from Shutterstock
The postBitcoin Mutual Fund Launches in Canadaappeared first onCCN. || Bitcoin Mutual Fund Launches in Canada: First Block Capital Inc., a Canadian cryptocurrency andblockchaininvestment company, has announced that its bitcoin trust, FBC Bitcoin Trust, has achieved mutual fund status inCanada, allowing investors to place funds in registered accounts such as a Tax Free Savings Account (TFSA) or Registered Retirement Savings Plan (RRSP).
The trust is available on NEO Connect, a fund distribution platform, under the ticker FBCBT, and is available to accredited investors only. Advisors can trade the fund with the same efficiency and ease as trading ETFs.
NEO Connect allows daily settlements, removing the previous 30-day redemption clause.
“At First Block, we provide investment exposure tobitcoinby removing the complicated barriers to investing directly in the cryptocurrency,” Sean Clark, CEO and co-founder of First Block, said in a prepared statement. “As the market leader in providing investment vehicles based on blockchain and cryptocurrency in Canada, we are very happy to make our fund more accessible to the accredited investor community. In this fast-changing world, NEO is the perfect partner with whom we have seized the opportunity to grow our fund within their proven and rapidly expanding fund distribution network.”
The advisors search for the symbol on NEO Connect with existing equities trading tools and select the number of units they want to purchase on behalf of their clients. Once they hit “buy,” the order executes at the end of the day at net asset value, without “bid” or “ask” spreads. The resulting position automatically integrates into the client accounts.
The trust will give investors exposure to bitcoin without having to acquire, hold, or manage the actual bitcoins. Trust units are considered a qualified investment in a mutual fund trust under the Tax Act, and the fund has surpassed 150 unit holders in less than a year since its launch.
The trust has been approved by the BCSC (British Columbia Securities Commission) and OSC (Ontario Securities Commission), according to First Block Capital, and marks the first and only product approved of its kind in Canada.
“Today, for the first time in Canada, accredited investors working with investment advisors can seamlessly take positions in bitcoin through the FBC Bitcoin Trust,” said Joe Schmitt, president and CEO of NEO. “As the world evolves, we are very pleased our unique fund distribution platform can help the investment community access, with ease and efficiency, an ever-expanding spectrum of new and innovative asset classes.”
“Our goal is to make investments in the digital currency asset class more accessible, and we are one step closer to achieving this goal by allowing unit holders to place units in government sponsored tax efficient vehicles, and by providing daily liquidity through NEO Connect, a fund distribution platform with a rapidly growing dealer network,” said Marc van der Chijs, co-founder and chief investment officer of First Block. “With this accomplishment, we continue to push Canada forward as a world leader in regulated blockchain and cryptocurrency investment vehicles.”
Also read:Canada’s only actively managed cryptocurrency fund now 91% cash
First Block expects most FBC Bitcoin Trust investors will start to move units in the first month. Registered broker dealer firms which First Block has worked with will manage all transfers to prepare for the fund’s launch.
NEO Connect, which claims the distinction of being Canada’s sole fund distribution platform permitting prospectus and private/offering memorandum funds to be bought and redeemed the way ETFs are, distributes 46 funds managed by three asset managers over 15 dealer networks, servicing nearly $600 million worth of assets.
Images from Shutterstock
The postBitcoin Mutual Fund Launches in Canadaappeared first onCCN. || Bitcoin Mutual Fund Launches in Canada: cryptocurrency bitcoin canada First Block Capital Inc., a Canadian cryptocurrency and blockchain investment company, has announced that its bitcoin trust, FBC Bitcoin Trust, has achieved mutual fund status in Canada , allowing investors to place funds in registered accounts such as a Tax Free Savings Account (TFSA) or Registered Retirement Savings Plan (RRSP). The trust is available on NEO Connect, a fund distribution platform, under the ticker FBCBT, and is available to accredited investors only. Advisors can trade the fund with the same efficiency and ease as trading ETFs. NEO Connect allows daily settlements, removing the previous 30-day redemption clause. Simplifying Market Exposure At First Block, we provide investment exposure to bitcoin by removing the complicated barriers to investing directly in the cryptocurrency, Sean Clark, CEO and co-founder of First Block, said in a prepared statement. As the market leader in providing investment vehicles based on blockchain and cryptocurrency in Canada, we are very happy to make our fund more accessible to the accredited investor community. In this fast-changing world, NEO is the perfect partner with whom we have seized the opportunity to grow our fund within their proven and rapidly expanding fund distribution network. The advisors search for the symbol on NEO Connect with existing equities trading tools and select the number of units they want to purchase on behalf of their clients. Once they hit buy, the order executes at the end of the day at net asset value, without bid or ask spreads. The resulting position automatically integrates into the client accounts. The trust will give investors exposure to bitcoin without having to acquire, hold, or manage the actual bitcoins. Trust units are considered a qualified investment in a mutual fund trust under the Tax Act, and the fund has surpassed 150 unit holders in less than a year since its launch. The trust has been approved by the BCSC (British Columbia Securities Commission) and OSC (Ontario Securities Commission), according to First Block Capital, and marks the first and only product approved of its kind in Canada. Story continues Making History Ontario Today, for the first time in Canada, accredited investors working with investment advisors can seamlessly take positions in bitcoin through the FBC Bitcoin Trust, said Joe Schmitt, president and CEO of NEO. As the world evolves, we are very pleased our unique fund distribution platform can help the investment community access, with ease and efficiency, an ever-expanding spectrum of new and innovative asset classes. Our goal is to make investments in the digital currency asset class more accessible, and we are one step closer to achieving this goal by allowing unit holders to place units in government sponsored tax efficient vehicles, and by providing daily liquidity through NEO Connect, a fund distribution platform with a rapidly growing dealer network, said Marc van der Chijs, co-founder and chief investment officer of First Block. With this accomplishment, we continue to push Canada forward as a world leader in regulated blockchain and cryptocurrency investment vehicles. Also read: Canadas only actively managed cryptocurrency fund now 91% cash Activity Set To Begin First Block expects most FBC Bitcoin Trust investors will start to move units in the first month. Registered broker dealer firms which First Block has worked with will manage all transfers to prepare for the funds launch. NEO Connect, which claims the distinction of being Canadas sole fund distribution platform permitting prospectus and private/offering memorandum funds to be bought and redeemed the way ETFs are, distributes 46 funds managed by three asset managers over 15 dealer networks, servicing nearly $600 million worth of assets. Images from Shutterstock The post Bitcoin Mutual Fund Launches in Canada appeared first on CCN . || Citigroup is the Latest Bank to Offer Crypto Custody: Here’s How it Will Affect the Market: According to Business Insider’s Frank Chaparro, sources close to Citibank revealed that the $175 billion New York-based bank will offer crypto custody solutions to institutional investors.
Through the launch of a product calledDigital Asset Receipt(DAR), Citigroup will enable institutional investors to invest in cryptocurrencies in a fully insured and regulated manner.
Conceptually, a DAR is similar to exchange-traded funds (ETFs) as investors do not actually have to own the stock or asset that is represented by DAR. For example, Citigroup has been offering DARs based on foreign stocks which US-based investors cannot purchase.
By owning DARs issued by Citibank, investors in the US essentially possess instruments that represent the value of the stocks or assets that are owned by Citibank on behalf of its consumers.
With Bitcoin, Citibank would issue DARs which its clients will be able to purchase equipped with insurance, protection, transaction monitoring, and other systems that are required by the financial regulators of the US. By investing in DARs, institutions will be able to hold instruments that represent the value ofBitcoin.
Chaparro, a journalist at Business Insider,wrote:
“The bank will alert the Depository Trust & Clearing Corp, a Wall Street middleman that provides clearing and settlement services, once it’s issued the receipt, one of the people said.”
Citigroup is still in an early stage in issuing DARs based on Bitcoin. Analysts have stated that the emergence of a wide range of institutional products like Coinbase Custody, Goldman Sachs custody, and Citigroup DARs will improve the liquidity and infrastructure of the global crypto market.
Most major banks based in the US including Goldman Sachs, JPMorgan, Citigroup, and Morgan Stanley are cautious in dealing digital assets and issuing publicly tradable instruments on top of cryptocurrencies due to the regulatory uncertainty in the region.
Goldman Sachs and Citigroup are said to be the first banks to offer crypto custody solutions in the near future, but representatives from both banks have emphasized that the two financial institutions are early in their process of entering the cryptocurrency market.
Hence, whether it isBitcoin ETFs, ETNs, or custody solutions, the earliest period in which publicly tradable instruments will be released to the public would be in 2019.
Most recently, Sweden-based XBT Provider expanded its Bitcoin ETN to US markets. Less than a month since its launch in the US, the Bitcoin Tracker One ETN wassuspendedby the US SEC.
Once institutional products hit the market and pension funds, hedge funds, and large-scale conglomerates take interest in cryptocurrencies as stores of value that are not dependent on the broader financial market, a large sum of capital will flow into the cryptocurrency market via custody solutions.
Theoptimismexpressed by billionaire investor Mike Novogratz towards the next mid-term rally of cryptocurrencies that could potentially be triggered by the entrance of institutional investors have increased the interest towards robust crypto custodian solutions over ETFs, which are highly unlikely to be approved by the SEC in the months to come.
Images from Shutterstock
The postCitigroup is the Latest Bank to Offer Crypto Custody: Here’s How it Will Affect the Marketappeared first onCCN. || Citigroup is the Latest Bank to Offer Crypto Custody: Heres How it Will Affect the Market: citigroup bitcoin According to Business Insiders Frank Chaparro, sources close to Citibank revealed that the $175 billion New York-based bank will offer crypto custody solutions to institutional investors. Through the launch of a product called Digital Asset Receipt (DAR), Citigroup will enable institutional investors to invest in cryptocurrencies in a fully insured and regulated manner. Similar to ETFs Conceptually, a DAR is similar to exchange-traded funds (ETFs) as investors do not actually have to own the stock or asset that is represented by DAR. For example, Citigroup has been offering DARs based on foreign stocks which US-based investors cannot purchase. By owning DARs issued by Citibank, investors in the US essentially possess instruments that represent the value of the stocks or assets that are owned by Citibank on behalf of its consumers. With Bitcoin, Citibank would issue DARs which its clients will be able to purchase equipped with insurance, protection, transaction monitoring, and other systems that are required by the financial regulators of the US. By investing in DARs, institutions will be able to hold instruments that represent the value of Bitcoin . Chaparro, a journalist at Business Insider, wrote : The bank will alert the Depository Trust & Clearing Corp, a Wall Street middleman that provides clearing and settlement services, once its issued the receipt, one of the people said. Citigroup is still in an early stage in issuing DARs based on Bitcoin. Analysts have stated that the emergence of a wide range of institutional products like Coinbase Custody, Goldman Sachs custody, and Citigroup DARs will improve the liquidity and infrastructure of the global crypto market. Impact on the Market bitcoin etf Most major banks based in the US including Goldman Sachs, JPMorgan, Citigroup, and Morgan Stanley are cautious in dealing digital assets and issuing publicly tradable instruments on top of cryptocurrencies due to the regulatory uncertainty in the region. Story continues Goldman Sachs and Citigroup are said to be the first banks to offer crypto custody solutions in the near future, but representatives from both banks have emphasized that the two financial institutions are early in their process of entering the cryptocurrency market. Hence, whether it is Bitcoin ETFs , ETNs, or custody solutions, the earliest period in which publicly tradable instruments will be released to the public would be in 2019. Most recently, Sweden-based XBT Provider expanded its Bitcoin ETN to US markets. Less than a month since its launch in the US, the Bitcoin Tracker One ETN was suspended by the US SEC. Once institutional products hit the market and pension funds, hedge funds, and large-scale conglomerates take interest in cryptocurrencies as stores of value that are not dependent on the broader financial market, a large sum of capital will flow into the cryptocurrency market via custody solutions. The optimism expressed by billionaire investor Mike Novogratz towards the next mid-term rally of cryptocurrencies that could potentially be triggered by the entrance of institutional investors have increased the interest towards robust crypto custodian solutions over ETFs, which are highly unlikely to be approved by the SEC in the months to come. Images from Shutterstock The post Citigroup is the Latest Bank to Offer Crypto Custody: Heres How it Will Affect the Market appeared first on CCN . || 72% of Cryptocurrency Investors Plan to Buy More this Year: Survey: bitcoin ethereum cryptocurrency A majority of accredited cryptocurrency investors and nearly three-fourths of retail investors plan to increase their cryptocurrency holdings in the next 12 months, a new survey suggests. That survey , conducted by securities trading platform SharesPost in July and eliciting responses from 2,490 retail investors and 528 accredited investors, found that current cryptocurrency owners remain highly-bullish on the nascent asset class, though they now expect mainstream adoption to take longer than they had when asked earlier in the year. Respondents in both groups now expect cryptocurrency to achieve widespread adoption in 2025, whereas in January — when bitcoin and most altcoins were trading at or near their all-time highs — they forecast that this would occur in 2020. They fingered lack of education and commercial use cases as one of the most pressing challenges for blockchain adoption. cryptocurrency survey results This muted forecast dealt a moderate blow to short-term outlooks among accredited investors, and respondents in this group are less likely than in January to expect cryptocurrency prices to rise or plan to purchase more coins within the next 12 months. Nevertheless, a majority (59 percent) still plan to increase their holdings over the next year, and 57 percent expect prices to rise by next July. Retail investors, however, maintain a rosier outlook. More consumers, 72 percent, said that they plan to deepen their cryptocurrency stakes this year, which represented a slight increase from January. Moreover, 66 percent said that they expect prices to rise during that timespan. “Based on our survey, crypto investors haven’t lost faith and are planning to buy more,” said Rohit Kulkarni, managing director and head of research at SharesPost, in a statement. “Importantly, this survey indicates that this correction is separating long-term believers from short-term day traders. Investors remain bullish on Bitcoin and Ethereum over the next 18 months because they are the leading digital currencies globally. Both enjoy relatively low correlation to other asset classes and can be an ideal way for investors to diversify a portfolio of stocks and bonds.” Story continues Notably, investment portfolios differed between accredited and retail investors, with high rollers being more likely to concentrate their holdings in altcoins . While consumers were most likely to own bitcoin (BTC), followed by ether (ETH) and litecoin (LTC), accredited investor portfolios most often held ETH, followed by BTC and ripple (XRP). Featured Image from Shutterstock The post 72% of Cryptocurrency Investors Plan to Buy More this Year: Survey appeared first on CCN . || 72% of Cryptocurrency Investors Plan to Buy More this Year: Survey: A majority of accredited cryptocurrency investors and nearly three-fourths of retail investors plan to increase their cryptocurrency holdings in the next 12 months, a new survey suggests.
Thatsurvey, conducted by securities trading platform SharesPost in July and eliciting responses from 2,490 retail investors and 528 accredited investors, found that current cryptocurrency owners remain highly-bullish on the nascent asset class, though they now expect mainstream adoption to take longer than they had when asked earlier in the year.
Respondents in both groups now expect cryptocurrency to achieve widespread adoption in 2025, whereas in January — whenbitcoinand most altcoins were trading at or near their all-time highs — they forecast that this would occur in 2020. They fingered lack of education and commercial use cases as one of the most pressing challenges for blockchain adoption.
This muted forecast dealt a moderate blow to short-term outlooks among accredited investors, and respondents in this group are less likely than in January to expect cryptocurrency prices to rise or plan to purchase more coins within the next 12 months. Nevertheless, a majority (59 percent) still plan to increase their holdings over the next year, and 57 percent expect prices to rise by next July.
Retail investors, however, maintain a rosier outlook. More consumers, 72 percent, said that they plan to deepen their cryptocurrency stakes this year, which represented a slight increase from January. Moreover, 66 percent said that they expect prices to rise during that timespan.
“Based on our survey, crypto investors haven’t lost faith and are planning to buy more,” said Rohit Kulkarni, managing director and head of research at SharesPost, in a statement. “Importantly, this survey indicates that this correction is separating long-term believers from short-term day traders. Investors remain bullish on Bitcoin and Ethereum over the next 18 months because they are the leading digital currencies globally. Both enjoy relatively low correlation to other asset classes and can be an ideal way for investors to diversify a portfolio of stocks and bonds.”
Notably, investment portfolios differed between accredited and retail investors, with high rollers being more likely to concentrate their holdings inaltcoins. While consumers were most likely to own bitcoin (BTC), followed by ether (ETH) and litecoin (LTC), accredited investor portfolios most often held ETH, followed by BTC and ripple (XRP).
Featured Image from Shutterstock
The post72% of Cryptocurrency Investors Plan to Buy More this Year: Surveyappeared first onCCN. || U.S. SEC Suspends Trading for Two Swedish-Based Crypto ETNs: U.S. SEC Suspends Trading for Two Swedish-Based Crypto ETNs Two securities, one that tracks bitcoin and another that tracks the cryptocurrency ether, have been temporarily halted by a U.S. regulatory watchdog due to investor confusion. Starting September 9, 2018, the Securities and Exchange Commission (SEC) has suspended all U.S. trading of Bitcoin Tracker One (CXBTF) and Ether Tracker One (CETHF) until September 20, 2018. The exchange-traded notes (ETNs) are issued by Swedish company XBT Provider AB, a subsidiary of U.K.-based CoinShares Holdings. Per the order , U.S. brokers are barred from trading the ETNs for any purpose other than to facilitate sales of instruments owned by non-broker customers... Essentially, this means that broker-dealers can only help their clients to exit these markets to liquidate their positions, while all other trading activity is prohibited until the order expires. With a caution to broker-dealers, shareholders and prospective purchasers to carefully consider
any information subsequently issued by [XBT Provider AB], the SEC cited investor confusion as a primary reason for restricting investor access to the products. The confusion is over sales and marketing materials that characterized the products as the more stringently-regulated exchange-traded funds (ETFs), when in fact, they are exchange-traded notes (ETNs), according to the order. Both types of securities are similar in that they allow investors to participate in the market without having to purchase the physical commodity. The primary difference comes down to risk. An ETF is similar to a stock in that the issuer holds the asset it tracks, whereas an ETN is more like a bond in that it is an unsecured debt. Yet, because ETNs are structured investment products issued by a major bank, as opposed to an asset pool, they come with a lower level of risk. Bitcoin Tracker One started trading on the Nasdaq Stockholm Exchange in 2015 , and Ether Tracker One launched in October 2017 . Bitcoin Tracker One was listed in U.S. dollars for the first time in August 2018, making it easier for brokerages to offer the securities to American investors. Previous to that, investors could only buy into the Swedish ETN product using euros or Swedish kora. The trading suspension is the latest in the SECs increasingly busy engagement with the cryptocurrency industry. In July 2018, the SEC rejected a second attempted ETF filing by the Winklevosses . The following month, it denied nine bitcoin ETF filings at the staff level, but then the Commission decided to review these rejections and re-evaluate the proposals, a move that gave the industry a glint of optimism in a hitherto fruitless effort to secure the institutional-grade product for U.S. markets. This article originally appeared on Bitcoin Magazine . || U.S. SEC Suspends Trading for Two Swedish-Based Crypto ETNs: Two securities, one that tracks bitcoin and another that tracks the cryptocurrency ether, have been temporarily halted by a U.S. regulatory watchdog due to investor confusion.
Starting September 9, 2018, the Securities and Exchange Commission (SEC) has suspended all U.S. trading of Bitcoin Tracker One (CXBTF) and Ether Tracker One (CETHF) until September 20, 2018. The exchange-traded notes (ETNs) are issued by Swedish company XBT Provider AB, a subsidiary of U.K.-based CoinShares Holdings.
Per theorder, U.S. brokers are barred from trading the ETNs “for any purpose other than to facilitate sales of instruments owned by non-broker customers...” Essentially, this means that broker-dealers can only help their clients to exit these markets to liquidate their positions, while all other trading activity is prohibited until the order expires.
With acautionto “broker-dealers, shareholders and prospective purchasers” to “carefully consider … any information subsequently issued by [XBT Provider AB],” the SEC cited investor confusion as a primary reason for restricting investor access to the products.
The confusion is over sales and marketing materials that characterized the products as the more stringently-regulated exchange-traded funds (ETFs), when in fact, they are exchange-traded notes (ETNs), according to the order.
Both types of securities are similar in that they allow investors to participate in the market without having to purchase the physical commodity. The primary difference comes down to risk. An ETF is similar to a stock in that the issuer holds the asset it tracks, whereas an ETN is more like a bond in that it is an unsecured debt. Yet, because ETNs are structured investment products issued by a major bank, as opposed to an asset pool, they come with a lower level of risk.
Bitcoin Tracker One started trading on the Nasdaq Stockholm Exchangein 2015, and Ether Tracker Onelaunched in October 2017.
Bitcoin Tracker One was listed in U.S. dollarsfor the first timein August 2018, making it easier for brokerages to offer the securities to American investors. Previous to that, investors could only buy into the Swedish ETN product using euros or Swedish kora.
The trading suspension is the latest in the SEC’s increasingly busy engagement with the cryptocurrency industry. In July 2018, the SEC rejected asecond attemptedETF filing by theWinklevosses. The following month, itdenied nine bitcoin ETF filingsat the staff level, but then the Commissiondecided to reviewthese rejections and re-evaluate the proposals, a move that gave the industry a glint of optimism in a hitherto fruitless effort to secure the institutional-grade product for U.S. markets.
This article originally appeared onBitcoin Magazine. || Cryptocurrencies ‘Here to Stay, Market Growing despite Recent Turbulence’: EU Watchdog Chief: Valdis Dombrovskis European Commission Bitcoin Following the meeting of the EU Economic and Financial Affairs Council (ECOFIN) in Vienna, Austria on September 7, European Commission Vice-President Vladis Dombrovskis has stated that the Council’s position on cryptocurrencies is that they are here to stay despite market turbulence. CCN earlier reported that the 28 EU finance ministers would meet for an informal gathering in Austria to discuss new rules for the emergent cryptocurrency sector. Growth Despite Turbulence In his opening remarks, Dombrovskis said that the Council has developed a broadly positive view of cryptocurrencies and ICOs, seeing their growth in the face of market turbulence as proof of their viability. In his words: “We see that crypto-assets are here to stay. Despite the recent turbulence, this market continues to grow. In particular initial coin offerings, or ICOs, we see they have the potential to emerge as a viable form of alternative financing. Already last year, ICOs helped raise over 6 billion dollars in funding and this year this figure will be substantially bigger.” Dombrovskis, who oversees Financial Stability, Financial Services and Capital Markets Union in the EU has been an outspoken proponent of developing a unified continental regulatory framework for cryptoassets. bitFlyer Europe In December 2017, CCN reported that he wrote letters to the European Banking Authority (EBA), the European Insurance and Occupational Pensions Authority (EIOPA), and the European Securities and Markets Authority (ESMA) urging them to warn bitcoin adopters of the risks in investing in the cryptocurrencies. Speaking on Friday, Dombrovskis again reiterated his concerns about cryptocurrency, stating that there are implicit risks for investment protection and market security, but also the risk of money laundering, potential fraud and hacking. This he said, is a cause for the EU to keep on monitoring developments in the crypto space in collaboration with the Financial Stability Board and the G20. He also noted that the EU has already expanded the scope of existing AML and anti terror-financing legislation to cover crypto exchanges and crypto wallet providers. Story continues Developing a Regulatory Framework According to Dombrovskis, a major challenge regulators face with crypto assets is knowing how to properly categorise them, and determining whether to apply existing EU financial rules to them or to develop new rules. Against this backdrop he said, the Council is working in conjunction with European Supervisory Authorities on a crypto asset regulatory mapping project to provide answers to these questions. Explaining further he said: “Many Member States today supported the need for such mapping, so we expect to conclude this assessment later this year. This will provide a solid ground to build on and to decide on further steps in this area.” Featured image from Flickr/ European People’s Party . The post Cryptocurrencies ‘Here to Stay, Market Growing despite Recent Turbulence’: EU Watchdog Chief appeared first on CCN . || SEC Temporarily Suspends Bitcoin, Ethereum Tracking ETNs: This article was originally published on ETFTrends.com. Less than a month after making its debut in the U.S., the Bitcoin Tracker One ( CXBTF ) is facing suspension by the Securities and Exchange Commission (SEC). Structured as an exchange traded note (ETN), the Bitcoin Tracker One product debuted in Sweden in 2015. Clearing and settlement of CXBTF is available in the Krona and Euro since the product is listed and regulated in Sweden. The ETN is issued by XBT Provider, which is a subsidiary of CoinShares. In a statement out Sunday , the SEC said suspension of CXBTF and the Ether Tracker One ( CETHF ) will go into effect as of 5:30 pm Eastern time Sept. 9 th and last until 11:59 pm Eastern time on Sept. 20 th . “The Commission temporarily suspended trading in the securities CXBTF and CETHF because of confusion amongst market participants regarding these instruments,” said the SEC. “This order was entered pursuant to Section 12(k) of the Securities Exchange Act of 1934 (Exchange Act).” Another ETF Blow? The debuts of CXBTF and CETHF in the U.S. were seen as potential precursors to widely anticipated bitcoin exchange traded funds (ETFs), a vehicle the SEC has consistently rejected. Last month, the SEC’s Division of Trading and Markets rejected applications from investment firms ProShares, Direxion and GraniteShares. The SEC recently postponed their decision on a bitcoin ETF until late September. The ETF filing by investment firm VanEck and blockchain technology company SolidX could help reticent investors adopt Bitcoin as a legitimate investment opportunity if approved. “The Commission cautions broker-dealers, shareholders, and prospective purchasers that they should carefully consider the foregoing information along with all other currently available information and any information subsequently issued by the company,” said the SEC in its Sunday statement. Last week, the broader cryptocurrency space shed 17% of its market value, but optimism remains that a bitcoin ETF could come to life. Story continues “ Elad Roisman , the newly-appointed member of the SEC , could be the missing the piece in tilting the balance in favor of a bitcoin ETF approval. The new commissioner becomes the third Trump appointee to the SEC, succeeding Michael Piwowar , who stepped down in July. Roisman said in a statement that the SEC must re-examine its rules around blockchain and initial coin offerings,” according to CCN . For more information on the cryptocurrency market, visit the Bitcoin category . POPULAR ARTICLES FROM ETFTRENDS.COM 5 Essential Ways to Keep Your Finances on Track What to Do When Your Spouse Handles ALL the Finances Do You Need Universal Life Insurance? The Biggest Mistake Millennials Home Buyers Make Kevin O’Leary Shares His Money Confessions READ MORE AT ETFTRENDS.COM > || SEC Temporarily Suspends Bitcoin, Ethereum Tracking ETNs: This article was originally published onETFTrends.com.
Less than a month after making its debut in the U.S., theBitcoin Tracker One(CXBTF) is facing suspension by the Securities and Exchange Commission (SEC).
Structured as an exchange traded note (ETN), the Bitcoin Tracker One product debuted in Sweden in 2015. Clearing and settlement of CXBTF is available in the Krona and Euro since the product is listed and regulated in Sweden. The ETN is issued by XBT Provider, which is a subsidiary of CoinShares.
Ina statement out Sunday, the SEC said suspension of CXBTF and theEther Tracker One(CETHF) will go into effect as of 5:30 pm Eastern time Sept. 9 th and last until 11:59 pm Eastern time on Sept. 20 th .
“The Commission temporarily suspended trading in the securities CXBTF and CETHF because of confusion amongst market participants regarding these instruments,” said the SEC. “This order was entered pursuant to Section 12(k) of the Securities Exchange Act of 1934 (Exchange Act).”
Another ETF Blow?
The debuts of CXBTF and CETHF in the U.S. were seen as potential precursors to widely anticipated bitcoin exchange traded funds (ETFs), a vehicle the SEC has consistently rejected. Last month, the SEC’s Division of Trading and Markets rejected applications from investment firms ProShares, Direxion and GraniteShares.
The SEC recently postponed their decision on a bitcoin ETF until late September. The ETF filing by investment firm VanEck and blockchain technology company SolidX could help reticent investors adopt Bitcoin as a legitimate investment opportunity if approved.
“The Commission cautions broker-dealers, shareholders, and prospective purchasers that they should carefully consider the foregoing information along with all other currently available information and any information subsequently issued by the company,” said the SEC in its Sunday statement.
Last week, the broader cryptocurrency space shed 17% of its market value, but optimism remains that a bitcoin ETF could come to life.
“Elad Roisman, the newly-appointed member of theSEC, could be the missing the piece in tilting the balance in favor of a bitcoin ETF approval. The new commissioner becomes the third Trump appointee to the SEC, succeedingMichael Piwowar, who stepped down in July. Roisman said in astatementthat the SEC must re-examine its rules around blockchain and initial coin offerings,”according to CCN.
For more information on the cryptocurrency market, visit theBitcoin category.
POPULAR ARTICLES FROM ETFTRENDS.COM
• 5 Essential Ways to Keep Your Finances on Track
• What to Do When Your Spouse Handles ALL the Finances
• Do You Need Universal Life Insurance?
• The Biggest Mistake Millennials Home Buyers Make
• Kevin O’Leary Shares His Money Confessions
READ MORE AT ETFTRENDS.COM > || SEC Temporarily Suspends Bitcoin, Ethereum Tracking ETNs: This article was originally published onETFTrends.com.
Less than a month after making its debut in the U.S., theBitcoin Tracker One(CXBTF) is facing suspension by the Securities and Exchange Commission (SEC).
Structured as an exchange traded note (ETN), the Bitcoin Tracker One product debuted in Sweden in 2015. Clearing and settlement of CXBTF is available in the Krona and Euro since the product is listed and regulated in Sweden. The ETN is issued by XBT Provider, which is a subsidiary of CoinShares.
Ina statement out Sunday, the SEC said suspension of CXBTF and theEther Tracker One(CETHF) will go into effect as of 5:30 pm Eastern time Sept. 9 th and last until 11:59 pm Eastern time on Sept. 20 th .
“The Commission temporarily suspended trading in the securities CXBTF and CETHF because of confusion amongst market participants regarding these instruments,” said the SEC. “This order was entered pursuant to Section 12(k) of the Securities Exchange Act of 1934 (Exchange Act).”
Another ETF Blow?
The debuts of CXBTF and CETHF in the U.S. were seen as potential precursors to widely anticipated bitcoin exchange traded funds (ETFs), a vehicle the SEC has consistently rejected. Last month, the SEC’s Division of Trading and Markets rejected applications from investment firms ProShares, Direxion and GraniteShares.
The SEC recently postponed their decision on a bitcoin ETF until late September. The ETF filing by investment firm VanEck and blockchain technology company SolidX could help reticent investors adopt Bitcoin as a legitimate investment opportunity if approved.
“The Commission cautions broker-dealers, shareholders, and prospective purchasers that they should carefully consider the foregoing information along with all other currently available information and any information subsequently issued by the company,” said the SEC in its Sunday statement.
Last week, the broader cryptocurrency space shed 17% of its market value, but optimism remains that a bitcoin ETF could come to life.
“Elad Roisman, the newly-appointed member of theSEC, could be the missing the piece in tilting the balance in favor of a bitcoin ETF approval. The new commissioner becomes the third Trump appointee to the SEC, succeedingMichael Piwowar, who stepped down in July. Roisman said in astatementthat the SEC must re-examine its rules around blockchain and initial coin offerings,”according to CCN.
For more information on the cryptocurrency market, visit theBitcoin category.
POPULAR ARTICLES FROM ETFTRENDS.COM
• 5 Essential Ways to Keep Your Finances on Track
• What to Do When Your Spouse Handles ALL the Finances
• Do You Need Universal Life Insurance?
• The Biggest Mistake Millennials Home Buyers Make
• Kevin O’Leary Shares His Money Confessions
READ MORE AT ETFTRENDS.COM > || 3 Reasons FANG Stocks Will Bounce Back: It was a rough week for the four titans of tech that have emerged as market darlings in recent years. Shares ofFacebook(NASDAQ: FB),Amazon.com(NASDAQ: AMZN),Netflix(NASDAQ: NFLX), and Google parentAlphabet(NASDAQ: GOOG)(NASDAQ: GOOGL)-- collectively calledFANG stocks-- took a step back during the holiday-abridged week.
• Facebook: down 7.2%
• Amazon: down 3%
• Netflix: down 6.3%
• Alphabet: down 4.4%
The four stocks lost an average of 5.2%, a far cry from the S&P 500's comparable 1% slide during the same four trading days. A common observation among financial journos is that sector rotation is the culprit. Investors are moving away from the four stocks, which have delivered scintillating returns over the past few years. FANG has fallen out of fashion, but let's go over some of the reasons why the sell-off last week was overdone.
Image source: Netflix.
There were plenty of things weighing on the four companies that make up the FANG universe. Facebook was testifying on Capitol Hill, explaining what it will do to make sure that nefarious forces don't try to influence users leading up to November's midterm elections. Alphabet was also invited, but chose not to attend.
Netflix took a hit after an analyst offered up somerosy growth prospectsfor a Netflix rival that hasn't even been launched yet. Amazon held up the best among the four entities -- even briefly topping $1 trillion in market cap for the first time earlier in the week -- but it seems as if CEO Jeff Bezos can't escape political heat coming from the left and the right.
The four names might not seem to be at their best right now, but they continue to pad their leads in their respective markets. Is there anyone really gaining ground on Facebook in social networking, Amazon in e-commerce, Netflix in premium streaming video, or Google in search? The four companies are at the top for a reason.
The collection of FANG stocks has beencalled a bubbleandcorrected in the past, only to bounce back in stellar fashion. It's hard to be optimistic in the middle of a slide, and in the case of Facebook and Netflix we're talking about stocks that are down 25% and 18%, respectively, off their summertime highs. They've bounced back before. They should bounce back again.
All four stocks hit fresh all-time highs this summer, including Amazon, which hit a new high-water mark earlier in the week. The markdowns may be warranted, particularly when it comes to Facebook and Netflix. Facebook's ability to share data and to target users for marketing missives with pinpoint precision will be challenged in the future. Netflix fell short of its own guidance in its latest quarter. It's not a good look in either camp, but they've overcome more-troublesome setbacks before.
The market was disappointed to see Netflix addjust 5.15 millionnet new subscribers in its latest quarter, but is there another premium service landing as many paying users in that time? Facebook tacked on roughly 20 million daily active users in the second quarter -- a historically sluggish showing -- but is there another platform actually gaining on Facebook that it doesn't already own?
There is a reason Google has the most advertisers on its platform. And how long can you go before leaning on Amazon for your shopping needs? The bigger these companies get, the smarter and more efficient they become. The stocks fell out of favor last week, but it's not a life sentence. FANG will bounce back.
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John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors.Rick Munarrizowns shares of Netflix. The Motley Fool owns shares of and recommends Alphabet (A shares), Alphabet (C shares), Amazon, Facebook, and Netflix. The Motley Fool has adisclosure policy. || 3 Reasons FANG Stocks Will Bounce Back: It was a rough week for the four titans of tech that have emerged as market darlings in recent years. Shares of Facebook (NASDAQ: FB) , Amazon.com (NASDAQ: AMZN) , Netflix (NASDAQ: NFLX) , and Google parent Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) -- collectively called FANG stocks -- took a step back during the holiday-abridged week. Facebook: down 7.2% Amazon: down 3% Netflix: down 6.3% Alphabet: down 4.4% The four stocks lost an average of 5.2%, a far cry from the S&P 500's comparable 1% slide during the same four trading days. A common observation among financial journos is that sector rotation is the culprit. Investors are moving away from the four stocks, which have delivered scintillating returns over the past few years. FANG has fallen out of fashion, but let's go over some of the reasons why the sell-off last week was overdone. Fuller House on Netflix. Image source: Netflix. 1. FANG companies remain as relevant as ever There were plenty of things weighing on the four companies that make up the FANG universe. Facebook was testifying on Capitol Hill, explaining what it will do to make sure that nefarious forces don't try to influence users leading up to November's midterm elections. Alphabet was also invited, but chose not to attend. Netflix took a hit after an analyst offered up some rosy growth prospects for a Netflix rival that hasn't even been launched yet. Amazon held up the best among the four entities -- even briefly topping $1 trillion in market cap for the first time earlier in the week -- but it seems as if CEO Jeff Bezos can't escape political heat coming from the left and the right. The four names might not seem to be at their best right now, but they continue to pad their leads in their respective markets. Is there anyone really gaining ground on Facebook in social networking, Amazon in e-commerce, Netflix in premium streaming video, or Google in search? The four companies are at the top for a reason. 2. These darlings bounce back The collection of FANG stocks has been called a bubble and corrected in the past , only to bounce back in stellar fashion. It's hard to be optimistic in the middle of a slide, and in the case of Facebook and Netflix we're talking about stocks that are down 25% and 18%, respectively, off their summertime highs. They've bounced back before. They should bounce back again. Story continues All four stocks hit fresh all-time highs this summer, including Amazon, which hit a new high-water mark earlier in the week. The markdowns may be warranted, particularly when it comes to Facebook and Netflix. Facebook's ability to share data and to target users for marketing missives with pinpoint precision will be challenged in the future. Netflix fell short of its own guidance in its latest quarter. It's not a good look in either camp, but they've overcome more-troublesome setbacks before. 3. The power of scalability goes to the victors The market was disappointed to see Netflix add just 5.15 million net new subscribers in its latest quarter, but is there another premium service landing as many paying users in that time? Facebook tacked on roughly 20 million daily active users in the second quarter -- a historically sluggish showing -- but is there another platform actually gaining on Facebook that it doesn't already own? There is a reason Google has the most advertisers on its platform. And how long can you go before leaning on Amazon for your shopping needs? The bigger these companies get, the smarter and more efficient they become. The stocks fell out of favor last week, but it's not a life sentence. FANG will bounce back. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. Rick Munarriz owns shares of Netflix. The Motley Fool owns shares of and recommends Alphabet (A shares), Alphabet (C shares), Amazon, Facebook, and Netflix. The Motley Fool has a disclosure policy . || Bitcoin rises above $6,300 as N.Y. approves dollar-linked digital currencies: NEW YORK (Reuters) - Bitcoin briefly climbed above $6,300 (4,839 pounds) on Monday after New York state's Department of Financial Services approved Gemini Trust Company's and Paxos Trust Company's dollar-linked digital currencies, the first stablecoins to get the nod from the regulator. At 9:24 a.m. (1324 GMT), the world's biggest and best known virtual currency was up 0.58 pct at $6,268.50 on Luxembourg-based Bitstamp exchange. (Reporting by Richard Leong) || Bitcoin rises above $6,300 as N.Y. approves dollar-linked digital currencies: NEW YORK (Reuters) - Bitcoin briefly climbed above $6,300 (4,839 pounds) on Monday after New York state's Department of Financial Services approved Gemini Trust Company's and Paxos Trust Company's dollar-linked digital currencies, the first stablecoins to get the nod from the regulator. At 9:24 a.m. (1324 GMT), the world's biggest and best known virtual currency was up 0.58 pct at $6,268.50 on Luxembourg-based Bitstamp exchange. (Reporting by Richard Leong)
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09-11 15:00(GMT)
$LIZA
BTC :0.00001
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$LAMBO
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JPY(eth) :12623.3 || Zapraszam na DARMOWY webinar pt: Jak czytać wykresy? Analiza techniczna kryptowalut!
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#Bitcoin #Altcoin #Kryptowaluty #Trading #Analiza #Webninar #Edukacja #BTC #ETH #XRP #LSK #LTC #FTO #gntmpic.twitter.com/rIYZOeFMM0 || ...
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6351.80, 6517.31, 6512.71, 6543.20, 6517.18, 6281.20, 6371.30, 6398.54, 6519.67, 6734.95
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Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 15599.20, 17429.50, 17527.00, 16477.60, 15170.10, 14595.40, 14973.30, 13405.80, 13980.60, 14360.20, 13772.00, 13819.80, 11490.50, 11188.60, 11474.90, 11607.40, 12899.20, 11600.10, 10931.40, 10868.40, 11359.40, 11259.40, 11171.40, 11440.70, 11786.30, 11296.40, 10106.30, 10221.10, 9170.54, 8830.75, 9174.91, 8277.01, 6955.27, 7754.00, 7621.30, 8265.59, 8736.98, 8621.90, 8129.97, 8926.57, 8598.31, 9494.63, 10166.40, 10233.90, 11112.70, 10551.80, 11225.30, 11403.70, 10690.40, 10005.00, 10301.10, 9813.07, 9664.73, 10366.70, 10725.60, 10397.90, 10951.00, 11086.40, 11489.70, 11512.60, 11573.30, 10779.90, 9965.57, 9395.01, 9337.55, 8866.00, 9578.63, 9205.12, 9194.85, 8269.81, 8300.86, 8338.35, 7916.88, 8223.68, 8630.65, 8913.47, 8929.28, 8728.47, 8879.62, 8668.12, 8495.78, 8209.40, 7833.04, 7954.48, 7165.70, 6890.52, 6973.53, 6844.23, 7083.80, 7456.11.
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[Bitcoin Technical Analysis for 2018-04-03]
Volume: 5499700224, RSI (14-day): 39.61, 50-day EMA: 9003.80, 200-day EMA: 8993.78
[Wider Market Context]
Gold Price: 1332.80, Gold RSI: 51.95
Oil Price: 63.51, Oil RSI: 51.38
[Recent News (last 7 days)]
Is This Why AnaptysBio Inc. Fell on Monday?: Shares ofAnaptysBio Inc.(NASDAQ: ANAB), a clinical-stage biotech developing therapeutic antibodies, slipped 13.1% in late-day trading and finished Monday's session 9.7% lower. The company has been quiet since announcing data from a recent peanut allergy trial that has been the source of some disagreement. It appears that a second look at the interim data from the mid-stage trial with ANB020 put a bad taste in shareholders' mouths this afternoon.
AnaptysBio has four partnered drugs in clinical trials and two more that the company owns outright. ANB020 is the wholly-owned candidate furthest along the development timeline. The stock marched up to anall-time highfollowing data from a mid-stage eczema trial released in February but has fallen about 15% since releasing spotty data from a small peanut allergy trial.
Image source: Getty Images.
Investigators gave ANB020 to 13 adults with moderate to severe peanut allergy symptoms and then essentially made them eat some peanuts a couple weeks later. Six of the 13 showed an improved peanut tolerance, which might be pretty good. There weren't any improvements in peanut tolerance among patients randomized to receive a placebo, but zero out of three isn't a lot to go on.
While the results warrant further investigation, they failed to impress analysts bullish for potential competitors in the peanut allergy space. The most fearsome source of competition could come fromAimmune Therapeutics Inc.(NASDAQ: AIMT)and its lead candidate AR101. During a pivotal study that wrapped up recently, 96% of patients who completed treatment were able to tolerate a 300 mg dose of peanut, while 63% could handle a whole 1,000 mg of peanut protein.
Aimmune's candidate put up arguably better data, but the pivotal study was limited to children between the ages of 4 and 17, while AnaptysBio has its lead candidate aimed at an adult population. If you're still worried about Aimmune's candidate in the peanut allergy space, remember ANB020's main source of value is as a treatment for eczema.
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Cory Renauerhas no position in any of the stocks mentioned. The Motley Fool recommends AnaptysBio. The Motley Fool has adisclosure policy. || Is This Why AnaptysBio Inc. Fell on Monday?: What happened Shares of AnaptysBio Inc. (NASDAQ: ANAB) , a clinical-stage biotech developing therapeutic antibodies, slipped 13.1% in late-day trading and finished Monday's session 9.7% lower. The company has been quiet since announcing data from a recent peanut allergy trial that has been the source of some disagreement. It appears that a second look at the interim data from the mid-stage trial with ANB020 put a bad taste in shareholders' mouths this afternoon. So what AnaptysBio has four partnered drugs in clinical trials and two more that the company owns outright. ANB020 is the wholly-owned candidate furthest along the development timeline. The stock marched up to an all-time high following data from a mid-stage eczema trial released in February but has fallen about 15% since releasing spotty data from a small peanut allergy trial. Chalkboard with a drawing of a downward sloping chart. Image source: Getty Images. Investigators gave ANB020 to 13 adults with moderate to severe peanut allergy symptoms and then essentially made them eat some peanuts a couple weeks later. Six of the 13 showed an improved peanut tolerance, which might be pretty good. There weren't any improvements in peanut tolerance among patients randomized to receive a placebo, but zero out of three isn't a lot to go on. Now what While the results warrant further investigation, they failed to impress analysts bullish for potential competitors in the peanut allergy space. The most fearsome source of competition could come from Aimmune Therapeutics Inc. (NASDAQ: AIMT) and its lead candidate AR101. During a pivotal study that wrapped up recently, 96% of patients who completed treatment were able to tolerate a 300 mg dose of peanut, while 63% could handle a whole 1,000 mg of peanut protein. Aimmune's candidate put up arguably better data, but the pivotal study was limited to children between the ages of 4 and 17, while AnaptysBio has its lead candidate aimed at an adult population. If you're still worried about Aimmune's candidate in the peanut allergy space, remember ANB020's main source of value is as a treatment for eczema. Story continues More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Cory Renauer has no position in any of the stocks mentioned. The Motley Fool recommends AnaptysBio. The Motley Fool has a disclosure policy . || Why Amazon.com Inc. Stock Dropped Today: Shares ofAmazon.com(NASDAQ: AMZN)fell 5.2% on Monday after President Trump renewed his attack on the online retail giant over taxes and its relationship with the U.S. Postal Service.
Trump tweeted this morning:
This was the third time in five days that the U.S. president has criticized Amazon onTwitter. Amazon shares initiallyfell last Thursdayfollowing a report from Axios claiming that Trump is "obsessed" with "go[ing] after" the company. And Trump has sustained his verbal attacks over the Post Office claim despite being informed "in multiple meetings that his perception is inaccurate and that the Post Office makes a ton of money from Amazon."
Furthermore, as Fox News separatelypointed outtoday, federal regulators have consistently "reviewed the Amazon contract with the Postal Service each year and determined it to be profitable."
IMAGE SOURCE: AMAZON.COM.
Regarding Trump's second point, note that Amazon collects and pays sales taxes on products it sells directly in all 45 states that have a sales tax. Instead, the source of Trump's frustration here almost certainly stems from the fact that Amazon does not collect sales taxes on behalf of third-party sellers who use its site.
Even then, we should note that Amazon has long supported -- and haslobbied heavilyfor -- passing the Marketplace Fairness Act, which requires those third-party sellers to collect sales taxes. Amazon also offers an optional sales-tax collection service (for a fee) to aid those sellers' efforts to that end.
It remains to be seen, then, exactly what President Trump is planning to curb Amazon's power. But given the mere threat of that happening -- and whether he'll actually follow through or not -- it's no surprise to see Amazon stock falling today in response.
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John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors.Steve Symingtonhas no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Amazon and Twitter. The Motley Fool has adisclosure policy. || Why Amazon.com Inc. Stock Dropped Today: What happened Shares of Amazon.com (NASDAQ: AMZN) fell 5.2% on Monday after President Trump renewed his attack on the online retail giant over taxes and its relationship with the U.S. Postal Service. Trump tweeted this morning: Only fools, or worse, are saying that our money losing Post Office makes money with Amazon. THEY LOSE A FORTUNE, and this will be changed. Also, our fully tax paying retailers are closing stores all over the country...not a level playing field! — Donald J. Trump (@realDonaldTrump) April 2, 2018 So what This was the third time in five days that the U.S. president has criticized Amazon on Twitter . Amazon shares initially fell last Thursday following a report from Axios claiming that Trump is "obsessed" with "go[ing] after" the company. And Trump has sustained his verbal attacks over the Post Office claim despite being informed "in multiple meetings that his perception is inaccurate and that the Post Office makes a ton of money from Amazon." Furthermore, as Fox News separately pointed out today, federal regulators have consistently "reviewed the Amazon contract with the Postal Service each year and determined it to be profitable." Large, light blue semi truck with trailer and Amazon Prime logo on the side IMAGE SOURCE: AMAZON.COM. Regarding Trump's second point, note that Amazon collects and pays sales taxes on products it sells directly in all 45 states that have a sales tax. Instead, the source of Trump's frustration here almost certainly stems from the fact that Amazon does not collect sales taxes on behalf of third-party sellers who use its site. Now what Even then, we should note that Amazon has long supported -- and has lobbied heavily for -- passing the Marketplace Fairness Act, which requires those third-party sellers to collect sales taxes. Amazon also offers an optional sales-tax collection service (for a fee) to aid those sellers' efforts to that end. Story continues It remains to be seen, then, exactly what President Trump is planning to curb Amazon's power. But given the mere threat of that happening -- and whether he'll actually follow through or not -- it's no surprise to see Amazon stock falling today in response. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Steve Symington has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Amazon and Twitter. The Motley Fool has a disclosure policy . || NVIDIA CEO: “Cryptocurrency Is Here to Stay”: Speaking withMad Moneyhost Jim Cramer, NVIDIA CEO Jensen Huang recently claimed that “cryptocurrency is here to stay,” and he “doesn’t see the craze ending anytime soon.”
Though itfirst came to fruition in2008, bitcoin gained a solid taste of mainstream popularity in 2017 when its price began rising faster than anyone had anticipated. The year started with a single bitcointrading at nearly$1,000, though things ended on a higher notewhen the currency nearlygrazed the $20,000 mark.
Since January 2018, bitcoin and other virtual currencieshave experienced serious dropsin their prices, but Huang is convinced that cryptocurrency remains as popular as ever.
“Cryptocurrency will be here,” he stated in the interview while discussing the future of finance. “The ability for the world to have a very low-friction, low-cost way of exchanging value is going to be here for a long time.”
NVIDIA is a technology company based in Santa Clara, California. Some of the enterprises’ staple products are its graphics processing units or GPUs. These small processors, Huang explains, were some of the main reasons the company first decided to get involved in cryptocurrency last year.
The GPUs have a powerful ability to mine virtual currencies, and blockchain technology requires computers that can be distributed “all over the world” while remaining immutable and safe. Thus, Huang felt his company’s productscould be greatly beneficial to cryptocurrency miners:
“The reason why cryptocurrency became such a popular thing on top of our GPUs is our GPU system is the world’s largest installed base of distributed supercomputing. Our processor serves as the perfect processor to enable this supercomputing capability to be distributed, and that’s the reason why it’s used.”
Interestingly, Huang noted that while the chips were no doubt powerful and crucial to the mining industry, he and his fellow executives are “not ready to move” on this just yet. For the time being, NVIDIA is primarily involved in the gaming business, data centers and self-driving cars, and cryptocurrency and mining operations account for only small portions of the company’s profits.
In fact, NVIDIA currentlyhas no alleged involvementin Bitcoin, per Huang’s comments at a recent GPU technology conference. He said its processors are predominantly used to mine ether, which accounted for roughly 6 percent of the company’s GPU sales in 2017.
“Ethereum ‘ether’ was designed as an algorithm to ensure no singular entity (or a few entities) has the power to control the ether,” he said. “It was designed so that the algorithm requires the type of computing capabilities — the type of processing capabilities — that are made possible by GPUs in a distributed system. The GPU is popular with Ethereum because the GPU is the single largest distributed supercomputer in the world. It is the only supercomputer that is literally in everyone’s hands, and no single entity can control the currency.”
He says that the influence of cryptocurrency isn’t likely to affect how they do business in the present, though he’s very confident this could change in the future:
“Gaming is a much bigger business; data center is a much bigger business; our professional graphics is a much bigger business, and, of course, in the future, everything that moves will be autonomous, and we’ll have autonomous capabilities, and that’s going to be a much bigger market, but cryptocurrency gave it that extra bit of juice that caused all of our GPUs to be in such great demand.”
This article originally appeared onBitcoin Magazine. || NVIDIA CEO: Cryptocurrency Is Here to Stay: NVIDIA CEO: Cryptocurrency Is Here to Stay Speaking with Mad Money host Jim Cramer, NVIDIA CEO Jensen Huang recently claimed that cryptocurrency is here to stay, and he doesnt see the craze ending anytime soon. Though it first came to fruition in 2008, bitcoin gained a solid taste of mainstream popularity in 2017 when its price began rising faster than anyone had anticipated. The year started with a single bitcoin trading at nearly $1,000, though things ended on a higher note when the currency nearly grazed the $20,000 mark. Since January 2018, bitcoin and other virtual currencies have experienced serious drops in their prices, but Huang is convinced that cryptocurrency remains as popular as ever. Cryptocurrency will be here, he stated in the interview while discussing the future of finance. The ability for the world to have a very low-friction, low-cost way of exchanging value is going to be here for a long time. NVIDIA is a technology company based in Santa Clara, California. Some of the enterprises staple products are its graphics processing units or GPUs. These small processors, Huang explains, were some of the main reasons the company first decided to get involved in cryptocurrency last year. The GPUs have a powerful ability to mine virtual currencies, and blockchain technology requires computers that can be distributed all over the world while remaining immutable and safe. Thus, Huang felt his companys products could be greatly beneficial to cryptocurrency miners: The reason why cryptocurrency became such a popular thing on top of our GPUs is our GPU system is the worlds largest installed base of distributed supercomputing. Our processor serves as the perfect processor to enable this supercomputing capability to be distributed, and thats the reason why its used. Interestingly, Huang noted that while the chips were no doubt powerful and crucial to the mining industry, he and his fellow executives are not ready to move on this just yet. For the time being, NVIDIA is primarily involved in the gaming business, data centers and self-driving cars, and cryptocurrency and mining operations account for only small portions of the companys profits. In fact, NVIDIA currently has no alleged involvement in Bitcoin, per Huangs comments at a recent GPU technology conference. He said its processors are predominantly used to mine ether, which accounted for roughly 6 percent of the companys GPU sales in 2017. Ethereum ether was designed as an algorithm to ensure no singular entity (or a few entities) has the power to control the ether, he said. It was designed so that the algorithm requires the type of computing capabilities the type of processing capabilities that are made possible by GPUs in a distributed system. The GPU is popular with Ethereum because the GPU is the single largest distributed supercomputer in the world. It is the only supercomputer that is literally in everyones hands, and no single entity can control the currency. He says that the influence of cryptocurrency isnt likely to affect how they do business in the present, though hes very confident this could change in the future: Gaming is a much bigger business; data center is a much bigger business; our professional graphics is a much bigger business, and, of course, in the future, everything that moves will be autonomous, and well have autonomous capabilities, and thats going to be a much bigger market, but cryptocurrency gave it that extra bit of juice that caused all of our GPUs to be in such great demand. Story continues This article originally appeared on Bitcoin Magazine . || Why Intel Stock Plunged Today: What happened Shares of chip giant Intel (NASDAQ: INTC) slumped on Monday following a report that Apple (NASDAQ: AAPL) was planning to dump the company's chips in favor of its own chips for Mac computers as early as 2020. Apple already designs its own ARM-based chips for its iPhone and iPad devices, but all Macs are powered by Intel processors. Intel stock was down 6.1% at market close, while Apple stock had shed about 0.7% of its value. So what The report of Apple's Mac ambitions comes from Bloomberg, which cited people familiar with the plans. The initiative is reportedly code-named Kalamata, and it's still in the early developmental stages. Apple is also reportedly working on a new software platform, set to release this year, that allows iPhone and iPad apps to run on Macs. An Intel Core X chip Image source: Intel. Bloomberg puts Apple-related revenue at about 5% of Intel's annual revenue. The loss of Apple as a customer wouldn't be a major blow to the top line, but it would mark another step in the direction of loosening Intel's grip on the PC market. Late last year, Microsoft unveiled an initiative that will put Windows 10 on laptops powered by Qualcomm 's Snapdragon 835 processors, with desktop applications supported through emulation. With Apple's plans reportedly in the early stages, the company may still abandon the effort before 2020 rolls around. But given the company's resources and the fact that its other devices already run on custom chips, it would make sense for Apple to try and make this move. Now what One problem that Apple will face if it does move Macs to custom ARM-based chips: Legacy Mac applications compiled for Intel's x86 processors wouldn't work out of the box. Either Apple would need to convince developers to release ARM versions of their software, or it would need to provide emulation support. The latter option is what Microsoft is doing, but that would introduce a performance penalty for emulated applications. Story continues Intel lost the mobile market long ago, despite an effort to get its Atom chips into smartphones and tablets. Its dominance in the PC market is still intact, but it's starting to be challenged on its home turf. Microsoft's initiative was the first blow; Apple's custom-chip push is another. While the immediate impact of Intel losing Apple's business won't be all that large, this is a trend that Intel investors should not be happy about. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Teresa Kersten is an employee of LinkedIn and is a member of The Motley Fool's board of directors; LinkedIn is owned by Microsoft. Timothy Green has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Apple. The Motley Fool owns shares of Qualcomm and has the following options: long January 2020 $150 calls on Apple and short January 2020 $155 calls on Apple. The Motley Fool recommends Intel. The Motley Fool has a disclosure policy . || Why Intel Stock Plunged Today: Shares of chip giantIntel(NASDAQ: INTC)slumped on Monday following a report thatApple(NASDAQ: AAPL)was planning to dump the company's chips in favor of its own chips for Mac computers as early as 2020. Apple already designs its own ARM-based chips for its iPhone and iPad devices, but all Macs are powered by Intel processors. Intel stock was down 6.1% at market close, while Apple stock had shed about 0.7% of its value.
The report of Apple's Mac ambitions comes from Bloomberg, which cited people familiar with the plans. The initiative is reportedly code-named Kalamata, and it's still in the early developmental stages. Apple is also reportedly working on a new software platform, set to release this year, that allows iPhone and iPad apps to run on Macs.
Image source: Intel.
Bloomberg puts Apple-related revenue at about 5% of Intel's annual revenue. The loss of Apple as a customer wouldn't be a major blow to the top line, but it would mark another step in the direction of loosening Intel's grip on the PC market. Late last year,Microsoftunveiled an initiativethat will put Windows 10 on laptops powered byQualcomm's Snapdragon 835 processors, with desktop applications supported through emulation.
With Apple's plans reportedly in the early stages, the company may still abandon the effort before 2020 rolls around. But given the company's resources and the fact that its other devices already run on custom chips, it would make sense for Apple to try and make this move.
One problem that Apple will face if it does move Macs to custom ARM-based chips: Legacy Mac applications compiled for Intel's x86 processors wouldn't work out of the box. Either Apple would need to convince developers to release ARM versions of their software, or it would need to provide emulation support. The latter option is what Microsoft is doing, but that would introduce a performance penalty for emulated applications.
Intel lost the mobile market long ago, despite an effort to get its Atom chips into smartphones and tablets. Its dominance in the PC market is still intact, but it's starting to be challenged on its home turf. Microsoft's initiative was the first blow; Apple's custom-chip push is another. While the immediate impact of Intel losing Apple's business won't be all that large, this is a trend that Intel investors should not be happy about.
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Teresa Kersten is an employee of LinkedIn and is a member of The Motley Fool's board of directors; LinkedIn is owned by Microsoft.Timothy Greenhas no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Apple. The Motley Fool owns shares of Qualcomm and has the following options: long January 2020 $150 calls on Apple and short January 2020 $155 calls on Apple. The Motley Fool recommends Intel. The Motley Fool has adisclosure policy. || Electric scooters for grown-ups are taking over San Francisco, and tech workers are annoyed: LimeBike
• More and more electric scooters are covering the streets and sidewalks ofSan Francisco.
• Startups like LimeBike andBirdlet users reserve a scooter from a smartphone app, ride for a small fee, and leave the scooter anywhere.
• People are abandoning their scooters on sidewalks — which is becoming a nuisance for tech workers and people who commute to work on foot.
Electric scooters for grown-ups are taking over the streets of San Francisco.
Since mid-March, three startups have rolled out motorized scooter rentals across San Francisco. These are stand-up vehicles like the Razor scooter you might have cruised around on as a kid — but they're outfitted with motors and electricity and reach speeds up to 15 mph.
Electric scooter-sharing startups Bird, LimeBike, and Spin let users reserve a scooter from a smartphone app, ride for a small fee, and leave the scooter anywhere at the end of a journey.
The rise of electric scooter rentals has created some crowding on San Francisco sidewalks, because the vehicles don't use docking stations like some electric-bike-sharing startups.
In recent days, tech workers took to social media to gripe about the electric scooter onslaught.
M.G. Siegler, a general partner at GV, the venture-capital arm of Google's parent company, Alphabet, said the proliferation of electric scooters in San Francisco happened quickly.
Tweet Embed://twitter.com/mims/statuses/980846271702249472?ref_src=twsrc%5EtfwA few weeks ago, I had not noticed any electric scooters in SF. Now you can’t exit a building without tripping over one.
It's hard not to notice them, according to tech writer and editor Jessica Misener.
Tweet Embed://twitter.com/mims/statuses/978299782560034816?ref_src=twsrc%5Etfwmeanwhile in san francisco: razor scooter share for adultspic.twitter.com/B15Mt7YvS2Tweet Embed://twitter.com/mims/statuses/980853889057529856?ref_src=twsrc%5Etfwthey're abandoned everywhere. Tweet Embed://twitter.com/mims/statuses/980181248831143936?ref_src=twsrc%5EtfwI leave town for 5 days and the entire city of San Francisco is now riding electric scooters. Count me in!
Business Insider's Rob Price spotted a trio of electric scooters from Bird outside of our office in San Francisco. He said he saw people driving the scooters down sidewalks, which is illegal.
Tweet Embed://twitter.com/mims/statuses/980891528598978561?ref_src=twsrc%5EtfwIt's true: Electric scooters are taking over San Francisco right now. These 3 are right outside our office. More round the corner. People cruising down roads and sidewalks on them.pic.twitter.com/ecG8SY2OSI
Scott Kidder, a software engineer, called for these startups to curb their scooters.
Tweet Embed://twitter.com/mims/statuses/979560059813285888?ref_src=twsrc%5EtfwElectric scooters and bikes are littering#SanFrancisco, found these scooters blocking entrances at the SF Ferry Building. I'm all for new transportation options, but@limebikeneeds to keep our city clean!@SFFerryRiders@SFBayFerrypic.twitter.com/LfRfaCm5Lu
Now, city officials say they plan to regulate electric-scooter sharing.
The San Francisco Municipal Transportation Agency (SFMTA) is working with San Francisco Supervisor Aaron Peskin to create legislation that would "create appropriate permits and requirements to regulate motorized scooter sharing," a SFMA spokesperson toldTech Crunch.
Their office sent a letter to Bird, LimeBike, and Spin, asking each to submit a business plan that describes how the company will comply with the city's requirements and how it plans to distribute and maintain scooters across the city, theSan Francisco Chronicleand TechCrunch reported last week.
The letter said the city would "actively enforce local laws protecting the city's right of way."
Tweet Embed://twitter.com/mims/statuses/980854668489252864?ref_src=twsrc%5Etfwevery stupid startup floods the zone with their garbage crap until you cant walk anywhere without falling over a neon tricyclegovernment steps in when the arteries of every city are long clogged with the trash of the moment, usually already too late
Electric scooters are not prohibited in any way, though California state law bans riding motorized scooters on sidewalks and requires riders to wear a helmet and hold a valid driver license. The vehicles do not come with helmets, which means riders must bring their own.
Bird, a startup based in the so-called Silicon Beach area of Los Angeles, delivered about 175 electric scooters to the San Francisco Bay Area in late March. The startup is led bya former Uber and Lyft executiveand has closed $115 million in funding since the start of the year.
When Bird first launched in a city near Los Angeles called Santa Monica, the city filed acriminal complaintagainst the startup over its failure to obtain a permit for operation.
Bird is now trying to do right by the cities where it operates. The company said it will pick up vehicles nightly and relocate them to where they're likely to be used, and it will add new scooters to a city only if it can show the existing scooters are being used at least three times per day.
Bird also plans togive $1 per vehicle per dayto local city government, "so they can use this money to build more bike lanes" and build and maintain road infrastructure.
NOW WATCH:This tiny electric scooter will make your commute a lot more exciting
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• The best US cities for millennials who have student debt
• What 9 famous monuments around the world looked like while they were under construction
SEE ALSO:Bitcoin millionaires are buying Lamborghinis as a status symbol of crypto wealth, and the carmaker says sales are rocketing || Electric scooters for grown-ups are taking over San Francisco, and tech workers are annoyed: electric scooter san francisco limebike LimeBike More and more electric scooters are covering the streets and sidewalks of San Francisco . Startups like LimeBike and Bird let users reserve a scooter from a smartphone app, ride for a small fee, and leave the scooter anywhere. People are abandoning their scooters on sidewalks which is becoming a nuisance for tech workers and people who commute to work on foot. Electric scooters for grown-ups are taking over the streets of San Francisco. Since mid-March, three startups have rolled out motorized scooter rentals across San Francisco. These are stand-up vehicles like the Razor scooter you might have cruised around on as a kid but they're outfitted with motors and electricity and reach speeds up to 15 mph. Electric scooter-sharing startups Bird, LimeBike, and Spin let users reserve a scooter from a smartphone app, ride for a small fee, and leave the scooter anywhere at the end of a journey. The rise of electric scooter rentals has created some crowding on San Francisco sidewalks, because the vehicles don't use docking stations like some electric-bike-sharing startups. In recent days, tech workers took to social media to gripe about the electric scooter onslaught. M.G. Siegler, a general partner at GV, the venture-capital arm of Google's parent company, Alphabet, said the proliferation of electric scooters in San Francisco happened quickly. Tweet Embed: //twitter.com/mims/statuses/980846271702249472?ref_src=twsrc%5Etfw A few weeks ago, I had not noticed any electric scooters in SF. Now you cant exit a building without tripping over one. It's hard not to notice them, according to tech writer and editor Jessica Misener. Tweet Embed: //twitter.com/mims/statuses/978299782560034816?ref_src=twsrc%5Etfw meanwhile in san francisco: razor scooter share for adults pic.twitter.com/B15Mt7YvS2 Tweet Embed: //twitter.com/mims/statuses/980853889057529856?ref_src=twsrc%5Etfw they're abandoned everywhere. Tweet Embed: //twitter.com/mims/statuses/980181248831143936?ref_src=twsrc%5Etfw I leave town for 5 days and the entire city of San Francisco is now riding electric scooters. Count me in! Story continues Business Insider's Rob Price spotted a trio of electric scooters from Bird outside of our office in San Francisco. He said he saw people driving the scooters down sidewalks, which is illegal. Tweet Embed: //twitter.com/mims/statuses/980891528598978561?ref_src=twsrc%5Etfw It's true: Electric scooters are taking over San Francisco right now. These 3 are right outside our office. More round the corner. People cruising down roads and sidewalks on them. pic.twitter.com/ecG8SY2OSI Scott Kidder, a software engineer, called for these startups to curb their scooters. Tweet Embed: //twitter.com/mims/statuses/979560059813285888?ref_src=twsrc%5Etfw Electric scooters and bikes are littering #SanFrancisco , found these scooters blocking entrances at the SF Ferry Building. I'm all for new transportation options, but @limebike needs to keep our city clean! @SFFerryRiders @SFBayFerry pic.twitter.com/LfRfaCm5Lu Now, city officials say they plan to regulate electric-scooter sharing. The San Francisco Municipal Transportation Agency (SFMTA) is working with San Francisco Supervisor Aaron Peskin to create legislation that would "create appropriate permits and requirements to regulate motorized scooter sharing," a SFMA spokesperson told Tech Crunch . Their office sent a letter to Bird, LimeBike, and Spin, asking each to submit a business plan that describes how the company will comply with the city's requirements and how it plans to distribute and maintain scooters across the city, the San Francisco Chronicle and TechCrunch reported last week. The letter said the city would "actively enforce local laws protecting the city's right of way." Tweet Embed: //twitter.com/mims/statuses/980854668489252864?ref_src=twsrc%5Etfw every stupid startup floods the zone with their garbage crap until you cant walk anywhere without falling over a neon tricycle government steps in when the arteries of every city are long clogged with the trash of the moment, usually already too late Electric scooters are not prohibited in any way, though California state law bans riding motorized scooters on sidewalks and requires riders to wear a helmet and hold a valid driver license. The vehicles do not come with helmets, which means riders must bring their own. The wannabe Uber of electric vehicles Bird, a startup based in the so-called Silicon Beach area of Los Angeles, delivered about 175 electric scooters to the San Francisco Bay Area in late March. The startup is led by a former Uber and Lyft executive and has closed $115 million in funding since the start of the year. When Bird first launched in a city near Los Angeles called Santa Monica, the city filed a criminal complaint against the startup over its failure to obtain a permit for operation. Bird is now trying to do right by the cities where it operates. The company said it will pick up vehicles nightly and relocate them to where they're likely to be used, and it will add new scooters to a city only if it can show the existing scooters are being used at least three times per day. Bird also plans to give $1 per vehicle per day to local city government, "so they can use this money to build more bike lanes" and build and maintain road infrastructure. NOW WATCH: This tiny electric scooter will make your commute a lot more exciting See Also: Trump says Amazon has received a free ride from taxpayers in cities across the US and he might be right The best US cities for millennials who have student debt What 9 famous monuments around the world looked like while they were under construction SEE ALSO: Bitcoin millionaires are buying Lamborghinis as a status symbol of crypto wealth, and the carmaker says sales are rocketing || Why Intel, Tesla, and Delta Air Lines Slumped Today: The stock market fell sharply on Monday, with intraday losses of as much as 750 points for the Dow Jones Industrial Average and similarly sized percentage drops for the other major benchmarks. A host of negative factors hit some key areas of the market that until now had been leaders, and investors as a result started to assess more seriously the possibility that the 9-year-old bull market might be getting long in the tooth. Political pressure on social media and e-commerce stocks played a role in the rout, but some other companies found themselves on the losing end as well. Intel (NASDAQ: INTC) , Tesla (NASDAQ: TSLA) , and Delta Air Lines (NYSE: DAL) were among the worst performers on the day. Here's why they did so poorly. Intel outside? Shares of Intel dropped 6% after the chip giant got bad news regarding one of its key supply customers. Intel has been providing processors for various Mac products from Apple (NASDAQ: AAPL) , but some now believe that Apple will shift production of Mac chips in-house within the next couple of years. The change could happen as soon as 2020, and although the initiative is in its early stages, Apple's move could be a harbinger of similar strategic decisions from other manufacturers of computers and mobile devices. Intel will have to find ways to pivot and make itself indispensable in order to fight back. Carpeted room with six chairs in front of curved wall with Intel logo and blue lighting. Image source: Intel. Tesla hits the brakes Tesla stock fell 5% in the aftermath of several news items. Many followers of the stock reacted negatively to a tweet from CEO Elon Musk apparently making light of the electric-auto maker's debt situation. Yet more substantive were Tesla's interactions with the National Transportation Safety Board following a recent Model X crash, as well as worries about whether mass-market Model 3 production will pick up as fast as necessary. The stock's decline reflects the fact that Tesla is priced for near-perfection, and even small hiccups could translate to bigger problems if they're not remedied quickly. Story continues Delta flies lower Finally, shares of Delta Air Lines sank 5%. The Department of Transportation has been weighing access to the Cuban capital of Havana , with substantial competition looking to get only fiercer going forward. In a tentative DoT decision, Delta was given the right to operate a second daily flight from Miami to Havana. However, competitors were also given greater penetration into Cuba, including American Airlines and its five daily roundtrips between the two cities. With a shrinking number of major players in the industry, discussions of specific city-pair routes like these could become increasingly important for Delta and its peers going forward. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Dan Caplinger owns shares of Apple. The Motley Fool owns shares of and recommends Apple and Tesla. The Motley Fool has the following options: long January 2020 $150 calls on Apple and short January 2020 $155 calls on Apple. The Motley Fool recommends Intel. The Motley Fool has a disclosure policy . || Why Intel, Tesla, and Delta Air Lines Slumped Today: The stock market fell sharply on Monday, with intraday losses of as much as 750 points for theDow Jones Industrial Averageand similarly sized percentage drops for the other major benchmarks. A host of negative factors hit some key areas of the market that until now had been leaders, and investors as a result started to assess more seriously the possibility that the 9-year-old bull market might be getting long in the tooth. Political pressure on social media and e-commerce stocks played a role in the rout, but some other companies found themselves on the losing end as well.Intel(NASDAQ: INTC),Tesla(NASDAQ: TSLA), andDelta Air Lines(NYSE: DAL)were among the worst performers on the day. Here's why they did so poorly.
Shares of Intel dropped 6% after the chip giant got bad news regarding one of its key supply customers. Intel has been providing processors for various Mac products fromApple(NASDAQ: AAPL), but some now believe that Apple will shiftproduction of Mac chips in-housewithin the next couple of years. The change could happen as soon as 2020, and although the initiative is in its early stages, Apple's move could be a harbinger of similar strategic decisions from other manufacturers of computers and mobile devices. Intel will have to find ways to pivot and make itself indispensable in order to fight back.
Image source: Intel.
Tesla stock fell 5% in the aftermath of several news items. Many followers of the stock reacted negatively to a tweet from CEO Elon Musk apparently making light of the electric-auto maker's debt situation. Yet more substantive wereTesla's interactions with the National Transportation Safety Boardfollowing a recent Model X crash, as well as worries about whether mass-market Model 3 production will pick up as fast as necessary. The stock's decline reflects the fact that Tesla is priced for near-perfection, and even small hiccups could translate to bigger problems if they're not remedied quickly.
Finally, shares of Delta Air Lines sank 5%. The Department of Transportation has been weighing access to theCuban capital of Havana, with substantial competition looking to get only fiercer going forward. In a tentative DoT decision, Delta was given the right to operate a second daily flight from Miami to Havana. However, competitors were also given greater penetration into Cuba, includingAmerican Airlinesand its five daily roundtrips between the two cities. With a shrinking number of major players in the industry, discussions of specific city-pair routes like these could become increasingly important for Delta and its peers going forward.
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Dan Caplingerowns shares of Apple. The Motley Fool owns shares of and recommends Apple and Tesla. The Motley Fool has the following options: long January 2020 $150 calls on Apple and short January 2020 $155 calls on Apple. The Motley Fool recommends Intel. The Motley Fool has adisclosure policy. || A Foolish Take: U.S. Schools Love Chromebooks: Back in 2012,Apple(NASDAQ: AAPL)accounted for 52.2% of all mobile device shipments to U.S. K-12 schools, according to Futuresource Consulting.Microsoftcame in second, with a 42.6% share, whileAlphabet's(NASDAQ: GOOG)(NASDAQ: GOOGL)Google took the remaining 5.2%.
However, Google overtook both tech giants in 2014, and accounted for 59% of all mobile device shipments to schools last year. That incredible result was fueled by the rise of Chromebooks.
Data source: Futuresource Consulting. Chart by author.
Google introduced Chromebooks as low-cost alternatives to Windows laptops, Macbooks, and iPads in 2011. The devices run Google'sChrome OS, a free Linux-based operating system that is tethered to the company's cloud services.
Schools embraced Chromebooks because they were cheap and easy to administer. Google's cloud services simplified many tasks, like turning in homework and tracking grades, and allowed teachers to collaborate on projects. Consistent software updates from Google also reduced maintenance costs.
Apple could struggle to win this market back from Google. The Mac maker recently unveiled a cheaper iPad squarely aimed at the education market, but the price tagwasn't very competitive.
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Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. Teresa Kersten is an employee of LinkedIn and is a member of The Motley Fool's board of directors. LinkedIn is owned by Microsoft.Leo Sunowns shares of Apple. The Motley Fool owns shares of and recommends Alphabet (A shares), Alphabet (C shares), and Apple. The Motley Fool has the following options: long January 2020 $150 calls on Apple and short January 2020 $155 calls on Apple. The Motley Fool has adisclosure policy. || A Foolish Take: U.S. Schools Love Chromebooks: Back in 2012, Apple (NASDAQ: AAPL) accounted for 52.2% of all mobile device shipments to U.S. K-12 schools, according to Futuresource Consulting. Microsoft came in second, with a 42.6% share, while Alphabet 's (NASDAQ: GOOG) (NASDAQ: GOOGL) Google took the remaining 5.2%. However, Google overtook both tech giants in 2014, and accounted for 59% of all mobile device shipments to schools last year. That incredible result was fueled by the rise of Chromebooks. Pie chart showing shipments of mobile devices to schools in 2017 by operating system Data source: Futuresource Consulting. Chart by author. Google introduced Chromebooks as low-cost alternatives to Windows laptops, Macbooks, and iPads in 2011. The devices run Google's Chrome OS , a free Linux-based operating system that is tethered to the company's cloud services. Schools embraced Chromebooks because they were cheap and easy to administer. Google's cloud services simplified many tasks, like turning in homework and tracking grades, and allowed teachers to collaborate on projects. Consistent software updates from Google also reduced maintenance costs. Apple could struggle to win this market back from Google. The Mac maker recently unveiled a cheaper iPad squarely aimed at the education market, but the price tag wasn't very competitive . More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. Teresa Kersten is an employee of LinkedIn and is a member of The Motley Fool's board of directors. LinkedIn is owned by Microsoft. Leo Sun owns shares of Apple. The Motley Fool owns shares of and recommends Alphabet (A shares), Alphabet (C shares), and Apple. The Motley Fool has the following options: long January 2020 $150 calls on Apple and short January 2020 $155 calls on Apple. The Motley Fool has a disclosure policy . || More Bad News for Hudson's Bay: A Credit Card Hack: Last week,Hudson's Bay Company(TSX: HBC)reportedsubpar resultsfor the final quarter of fiscal 2017. Comparable store sales fell 2.4% despite generally strong sales trends elsewhere in the retail industry. The Hudson's Bay chain and the upscale Saks Fifth Avenue chain both achieved comp sales increases, but this was offset by sharp declines for Lord & Taylor and the company's off-price brands.
In total, Hudson's Bay lost hundreds of millions of dollars last year and burned nearly 1 billion Canadian dollars of cash. The company recently hired retail veteran Helena Foulkes as its new CEO, with a mandate to turn the business around.
That task just became even harder. Over the weekend, Hudson's Bay disclosed a data breach that may have compromised millions of customers' credit card accounts across its Saks Fifth Avenue, Lord & Taylor, and Saks OFF 5TH chains.
A group known as the JokerStash Syndicate appears to have stolen information for more than 5 million credit cards by infiltrating the point-of-sale systems at dozens of stores spanning the Saks Fifth Avenue, Lord & Taylor, and Saks OFF 5TH brands. The group has started to sell the credit card information on the dark web in smaller batches.
Credit card data was stolen from Lord & Taylor and two other Hudson's Bay chains. Image source: Author.
The JokerStash group has been behind several other credit card breaches over the past few years, including atChipotle Mexican Grill. Upgrading to chip-based credit card systems (rather than magnetic strips) was supposed to improve data security, but that doesn't seem to have helped Hudson's Bay.
The credit card hack is bound to hurt Hudson's Bay's efforts to return to profitability. First, there will be various direct costs of addressing the problem. The company has had to hire security experts to investigate the breach. It will also set up a dedicated call center to answer customers' questions and will pay for identity theft monitoring for all affected customers. Additionally, banks and credit card companies may impose fines to cover some of the cost of writing off fraudulent charges.
Indirect costs of the breach could be substantial, too. Chipotle Mexican Grill's management noted thatcustomer traffic slowedsomewhat after news of the company's credit card breach came out last spring. The damage at the restaurant chain highlights the vulnerability of merchants that are already facing sales pressure for other reasons.
Furthermore, Saks Fifth Avenue and Lord & Taylor both cater to wealthy customers and charge high prices. It would be reasonable for their customers to be less forgiving of a security breach than the average consumer.
The recent credit card breach at Saks Fifth Avenue, Lord & Taylor, and Saks OFF 5TH comes at a particularly inconvenient time. While Saks Fifth Avenue is benefiting from a rebound in luxury retail, the latter two brands have been floundering for several years. Foulkes is supposed to be evaluating those two parts of the business over the next several months to determine Hudson's Bay's next steps.
If customer traffic now takes a turn for the worse, it will be that much harder for Foulkes to find a way forward for these two struggling chains.
On the other hand, this incident could be the last straw that forces Hudson's Bay to make some tough choices. The recent divergence in performance between Saks Fifth Avenue and Lord & Taylor suggests that Hudson's Bay should consider consolidating its U.S. business under the Saks brand. This would require a painful restructuring -- many Lord & Taylor locations would need to be shuttered and sold, while others could be converted to Saks Fifth Avenue stores -- but it may offer the most viable path to long-term success.
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Adam Levine-Weinbergowns shares of CMG. The Motley Fool owns shares of and recommends CMG. The Motley Fool has adisclosure policy. || More Bad News for Hudson's Bay: A Credit Card Hack: Last week, Hudson's Bay Company (TSX: HBC) reported subpar results for the final quarter of fiscal 2017. Comparable store sales fell 2.4% despite generally strong sales trends elsewhere in the retail industry. The Hudson's Bay chain and the upscale Saks Fifth Avenue chain both achieved comp sales increases, but this was offset by sharp declines for Lord & Taylor and the company's off-price brands. In total, Hudson's Bay lost hundreds of millions of dollars last year and burned nearly 1 billion Canadian dollars of cash. The company recently hired retail veteran Helena Foulkes as its new CEO, with a mandate to turn the business around. That task just became even harder. Over the weekend, Hudson's Bay disclosed a data breach that may have compromised millions of customers' credit card accounts across its Saks Fifth Avenue, Lord & Taylor, and Saks OFF 5TH chains. Hudson's Bay gets hacked A group known as the JokerStash Syndicate appears to have stolen information for more than 5 million credit cards by infiltrating the point-of-sale systems at dozens of stores spanning the Saks Fifth Avenue, Lord & Taylor, and Saks OFF 5TH brands. The group has started to sell the credit card information on the dark web in smaller batches. The parking lot and exterior of a Lord & Taylor store Credit card data was stolen from Lord & Taylor and two other Hudson's Bay chains. Image source: Author. The JokerStash group has been behind several other credit card breaches over the past few years, including at Chipotle Mexican Grill . Upgrading to chip-based credit card systems (rather than magnetic strips) was supposed to improve data security, but that doesn't seem to have helped Hudson's Bay. A costly error The credit card hack is bound to hurt Hudson's Bay's efforts to return to profitability. First, there will be various direct costs of addressing the problem. The company has had to hire security experts to investigate the breach. It will also set up a dedicated call center to answer customers' questions and will pay for identity theft monitoring for all affected customers. Additionally, banks and credit card companies may impose fines to cover some of the cost of writing off fraudulent charges. Story continues Indirect costs of the breach could be substantial, too. Chipotle Mexican Grill's management noted that customer traffic slowed somewhat after news of the company's credit card breach came out last spring. The damage at the restaurant chain highlights the vulnerability of merchants that are already facing sales pressure for other reasons. Furthermore, Saks Fifth Avenue and Lord & Taylor both cater to wealthy customers and charge high prices. It would be reasonable for their customers to be less forgiving of a security breach than the average consumer. Climbing uphill The recent credit card breach at Saks Fifth Avenue, Lord & Taylor, and Saks OFF 5TH comes at a particularly inconvenient time. While Saks Fifth Avenue is benefiting from a rebound in luxury retail, the latter two brands have been floundering for several years. Foulkes is supposed to be evaluating those two parts of the business over the next several months to determine Hudson's Bay's next steps. If customer traffic now takes a turn for the worse, it will be that much harder for Foulkes to find a way forward for these two struggling chains. On the other hand, this incident could be the last straw that forces Hudson's Bay to make some tough choices. The recent divergence in performance between Saks Fifth Avenue and Lord & Taylor suggests that Hudson's Bay should consider consolidating its U.S. business under the Saks brand. This would require a painful restructuring -- many Lord & Taylor locations would need to be shuttered and sold, while others could be converted to Saks Fifth Avenue stores -- but it may offer the most viable path to long-term success. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Adam Levine-Weinberg owns shares of CMG. The Motley Fool owns shares of and recommends CMG. The Motley Fool has a disclosure policy . || Tech stocks dive into negative territory for 2018 amid trade-war fears: Screen Shot 2018 04 02 at 4.01.02 PM Marketwatch US stocks saw deep losses Monday as President Donald Trump continued to publicly criticize Amazon and his administration prepares to roll out tariffs on Chinese imports. Stocks in the technology, consumer discretionary, and energy sectors led major indexes lower. Follow the Dow Jones industrial average and Nasdaq 100 index. US stocks tumbled Monday as President Donald Trump doubled down on his criticism of Amazon , sending shares in the technology and consumer discretionary sectors lower. The selling also comes ahead of the Trump administration's plan to unveil this week a list of Chinese imports targeted for US tariffs . The list of $50 billion to $60 billion worth of annual imports is expected to target "largely high-technology" products. The more tech-heavy Nasdaq 100 — which has been a lightning rod for market volatility in recent weeks — plummeted as much as 3.9% to lead all major US indexes. Meanwhile, the benchmark S&P 500 dropped as much as 3.3%, and the 30-company Dow Jones industrial average at one point slid more than 3.1%, or 759 points. The S&P 500 also closed below its 200-day moving average , a key technical level that, when breached, could signal further selling ahead for the gauge. Among the worst-hit technology firms were chipmakers, including Lam Research , Micron Technology , Nvidia , Intel , and Cisco , which all dropped at least 3.9%. Because of their position in supply chains, these firms are more vulnerable to geopolitical turmoil, particularly as it pertains to China. Mega-cap technology companies also took a dive as the New York Stock Exchange's FANG+ Index — which includes Facebook, Amazon, Netflix, Google, and six other massive global firms — decreased 4.1%. Amazon, Netflix , and Tesla all logged losses exceeding 5.1%. Tech-sector woes are mounting at a time when it seems everything is going wrong simultaneously for the industry. Netflix shares are falling deeper into a correction in the wake of a recent data breach, while Tesla is under pressure ahead of its quarterly production update for the Model 3 sedan. Story continues Check out Business Insider's in-depth coverage of the market's recent turbulence: Tumbling stocks just closed below a key technical threshold — and it could mean the pain is just beginning A group of investors once left for dead looks more prepared than anyone to fight off a trade war GOLDMAN SACHS: The stock market's turbulent first quarter created a bonanza for 2 groups of companies Here's a 2-part trade that will help investors survive as global economies splinter apart, says Bernstein There's an eye-popping statistic that shows turbulence in tech stocks may just be getting started Elsewhere in global equity markets, the Shanghai Composite lost 0.2% after climbing as much as 0.7% in early trading, while the Stoxx Europe 600 increased 0.4%. In the bond market, the 10-year US Treasury yield fell one basis point, to 2.73%, close to the key 3% level that traders are closely watching . Bank of America Merrill Lynch has said a trade war could move yields higher in the medium-to-long term. Here's a rundown of other asset classes: US Dollar Index , +0.04% Crude oil (WTI) , -2.71% Cboe Volatility Index (VIX) , +18% Gold , +1.52% Bitcoin , +1.70% NOW WATCH: Facebook can still track you even if you delete your account — here's how to stop it See Also: A group of investors once left for dead looks more prepared than anyone to fight off a trade war Tesla's tumbling stock has made short sellers $1.9 billion in less than a month The choppy trading that's rocking stocks is an ominous sign for the future of the bull market SEE ALSO: Tumbling stocks just closed below a key technical threshold — and it could mean the pain is just beginning || Tech stocks dive into negative territory for 2018 amid trade-war fears: Screen Shot 2018 04 02 at 4.01.02 PM Marketwatch US stocks saw deep losses Monday as President Donald Trump continued to publicly criticize Amazon and his administration prepares to roll out tariffs on Chinese imports. Stocks in the technology, consumer discretionary, and energy sectors led major indexes lower. Follow the Dow Jones industrial average and Nasdaq 100 index. US stocks tumbled Monday as President Donald Trump doubled down on his criticism of Amazon , sending shares in the technology and consumer discretionary sectors lower. The selling also comes ahead of the Trump administration's plan to unveil this week a list of Chinese imports targeted for US tariffs . The list of $50 billion to $60 billion worth of annual imports is expected to target "largely high-technology" products. The more tech-heavy Nasdaq 100 — which has been a lightning rod for market volatility in recent weeks — plummeted as much as 3.9% to lead all major US indexes. Meanwhile, the benchmark S&P 500 dropped as much as 3.3%, and the 30-company Dow Jones industrial average at one point slid more than 3.1%, or 759 points. The S&P 500 also closed below its 200-day moving average , a key technical level that, when breached, could signal further selling ahead for the gauge. Among the worst-hit technology firms were chipmakers, including Lam Research , Micron Technology , Nvidia , Intel , and Cisco , which all dropped at least 3.9%. Because of their position in supply chains, these firms are more vulnerable to geopolitical turmoil, particularly as it pertains to China. Mega-cap technology companies also took a dive as the New York Stock Exchange's FANG+ Index — which includes Facebook, Amazon, Netflix, Google, and six other massive global firms — decreased 4.1%. Amazon, Netflix , and Tesla all logged losses exceeding 5.1%. Tech-sector woes are mounting at a time when it seems everything is going wrong simultaneously for the industry. Netflix shares are falling deeper into a correction in the wake of a recent data breach, while Tesla is under pressure ahead of its quarterly production update for the Model 3 sedan. Story continues Check out Business Insider's in-depth coverage of the market's recent turbulence: Tumbling stocks just closed below a key technical threshold — and it could mean the pain is just beginning A group of investors once left for dead looks more prepared than anyone to fight off a trade war GOLDMAN SACHS: The stock market's turbulent first quarter created a bonanza for 2 groups of companies Here's a 2-part trade that will help investors survive as global economies splinter apart, says Bernstein There's an eye-popping statistic that shows turbulence in tech stocks may just be getting started Elsewhere in global equity markets, the Shanghai Composite lost 0.2% after climbing as much as 0.7% in early trading, while the Stoxx Europe 600 increased 0.4%. In the bond market, the 10-year US Treasury yield fell one basis point, to 2.73%, close to the key 3% level that traders are closely watching . Bank of America Merrill Lynch has said a trade war could move yields higher in the medium-to-long term. Here's a rundown of other asset classes: US Dollar Index , +0.04% Crude oil (WTI) , -2.71% Cboe Volatility Index (VIX) , +18% Gold , +1.52% Bitcoin , +1.70% NOW WATCH: Facebook can still track you even if you delete your account — here's how to stop it See Also: A group of investors once left for dead looks more prepared than anyone to fight off a trade war Tesla's tumbling stock has made short sellers $1.9 billion in less than a month The choppy trading that's rocking stocks is an ominous sign for the future of the bull market SEE ALSO: Tumbling stocks just closed below a key technical threshold — and it could mean the pain is just beginning || DoubleLine's Gundlach says bitcoin leads stock market movements: By Jennifer Ablan
NEW YORK (Reuters) - Bitcoin, the highly volatile digital currency, is proving to be the new stock market indicator, influential investor Jeffrey Gundlach said on Monday, adding that this is hardly just a "gut feeling" given the recent price movements.
"Bitcoin closed at the low of the year last week, SPX (Standard & Poor's 500 Index) is now at the low of the year this week," Gundlach, known as Wall Street's "Bond King," told Reuters in an interview. "Bitcoin keeps leading."
For months, Gundlach, who oversees $119 billion at DoubleLine Capital, has asserted that bitcoin has become the "lead horse" of risk assets and that its previous plunges have had a cascading effect on other risk assets including equities and high-yield junk bonds.
On Monday, Gundlach added that bitcoin carries so much predictive power "because it was the poster child of the speculative mood late last year."
Bitcoin (BTC=BTSP) peaked in mid-December at just under $20,000. From December to early February it fell to around $6,600 then rebounded to $11,500 in early March. Since then, it has been on a steady decline but edged back on Monday at around $6,953.
"That (December) crash means the speculative mood got exhausted," he said. "The hip bone is connected to the thigh bone."
Gundlach said bitcoin's price went vertical starting around mid-September. The S&P 500 Index (.SPX) accelerated to the upside at exactly the same time, he said. "Bitcoin mania was reached in mid-December and it promptly started to crash."
The S&P frenzy, he said, continued on to Jan. 26 but "the bitcoin crash was shouting that the speculative mania of the social mood had already passed. Then the S&P collapsed, joining Bitcoin in gear on the downside."
But as the S&P was diving to its lows, bitcoin was already rallying, Gundlach noted. As a result, the S&P found a bottom and subsequently the tech-heavy Nasdaq (.IXIC) even crawled back to a new high, he said. "But as that new high was being made, bitcoin was back in bear-market mode. Soon after it was tank time again for stocks.
"It is all tied together, obviously," Gundlach said.
In a January investor webcast, Gundlach said he believed the price on bitcoin had hit its peak. “The high for bitcoin is in,” he said. “It’s just a thing that is out there, unproven. I have a theory that bitcoin is very different than what people think. People think that it is tremendously safe and anonymous and can’t be hacked and all that stuff. I have feeling that it is the opposite.
“I do not own bitcoin. This type of investment is very, very different from my conservative DNA,” Gundlach said.
(Reporting by Jennifer Ablan in New York; Editing by Matthew Lewis) || DoubleLine's Gundlach says bitcoin leads stock market movements: By Jennifer Ablan NEW YORK (Reuters) - Bitcoin, the highly volatile digital currency, is proving to be the new stock market indicator, influential investor Jeffrey Gundlach said on Monday, adding that this is hardly just a "gut feeling" given the recent price movements. "Bitcoin closed at the low of the year last week, SPX (Standard & Poor's 500 Index) is now at the low of the year this week," Gundlach, known as Wall Street's "Bond King," told Reuters in an interview. "Bitcoin keeps leading." For months, Gundlach, who oversees $119 billion at DoubleLine Capital, has asserted that bitcoin has become the "lead horse" of risk assets and that its previous plunges have had a cascading effect on other risk assets including equities and high-yield junk bonds. On Monday, Gundlach added that bitcoin carries so much predictive power "because it was the poster child of the speculative mood late last year." Bitcoin (BTC=BTSP) peaked in mid-December at just under $20,000. From December to early February it fell to around $6,600 then rebounded to $11,500 in early March. Since then, it has been on a steady decline but edged back on Monday at around $6,953. "That (December) crash means the speculative mood got exhausted," he said. "The hip bone is connected to the thigh bone." Gundlach said bitcoin's price went vertical starting around mid-September. The S&P 500 Index (.SPX) accelerated to the upside at exactly the same time, he said. "Bitcoin mania was reached in mid-December and it promptly started to crash." The S&P frenzy, he said, continued on to Jan. 26 but "the bitcoin crash was shouting that the speculative mania of the social mood had already passed. Then the S&P collapsed, joining Bitcoin in gear on the downside." But as the S&P was diving to its lows, bitcoin was already rallying, Gundlach noted. As a result, the S&P found a bottom and subsequently the tech-heavy Nasdaq (.IXIC) even crawled back to a new high, he said. "But as that new high was being made, bitcoin was back in bear-market mode. Soon after it was tank time again for stocks. Story continues "It is all tied together, obviously," Gundlach said. In a January investor webcast, Gundlach said he believed the price on bitcoin had hit its peak. “The high for bitcoin is in,” he said. “It’s just a thing that is out there, unproven. I have a theory that bitcoin is very different than what people think. People think that it is tremendously safe and anonymous and can’t be hacked and all that stuff. I have feeling that it is the opposite. “I do not own bitcoin. This type of investment is very, very different from my conservative DNA,” Gundlach said. (Reporting by Jennifer Ablan in New York; Editing by Matthew Lewis)
[Social Media Buzz]
#BTC 4hr
Huge rising wedge along with a hidden bearish divergence on the 4hr. Plus Stoch RSI has been absolutely through the roof for the past few days. If/Once the wedge breaks, i expect a retest of mid 6k levels. pic.twitter.com/GLSHRA6RRR || German Authorities Make Bitcoin Official Legal Tender in the Tourism Sector #fintech #bitcoin #germany #blockchain https://paper.li/fintech_portal/1521413417?read=https%3A%2F%2Fbtcmanager.com%2Fgerman-authorities-make-bitcoin-official-legal-tender-in-the-...
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6853.84, 6811.47, 6636.32, 6911.09, 7023.52, 6770.73, 6834.76, 6968.32, 7889.25, 7895.96
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Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 6517.31, 6512.71, 6543.20, 6517.18, 6281.20, 6371.30, 6398.54, 6519.67, 6734.95, 6721.98, 6710.63, 6595.41, 6446.47, 6495.00, 6676.75, 6644.13, 6601.96, 6625.56, 6589.62, 6556.10, 6502.59, 6576.69, 6622.48, 6588.31, 6602.95, 6652.23, 6642.64, 6585.53, 6256.24, 6274.58, 6285.99, 6290.93, 6596.54, 6596.11, 6544.43, 6476.71, 6465.41, 6489.19, 6482.35, 6487.16, 6475.74, 6495.84, 6476.29, 6474.75, 6480.38, 6486.39, 6332.63, 6334.27, 6317.61, 6377.78, 6388.44, 6361.26, 6376.13, 6419.66, 6461.01, 6530.14, 6453.72, 6385.62, 6409.22, 6411.27, 6371.27, 6359.49, 5738.35, 5648.03, 5575.55, 5554.33, 5623.54, 4871.49, 4451.87, 4602.17, 4365.94, 4347.11, 3880.76, 4009.97, 3779.13, 3820.72, 4257.42, 4278.85, 4017.27, 4214.67, 4139.88, 3894.13, 3956.89, 3753.99, 3521.10, 3419.94, 3476.11, 3614.23, 3502.66, 3424.59.
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[Bitcoin Technical Analysis for 2018-12-11]
Volume: 4696765188, RSI (14-day): 28.69, 50-day EMA: 4863.20, 200-day EMA: 6341.40
[Wider Market Context]
Gold Price: 1241.90, Gold RSI: 60.18
Oil Price: 51.65, Oil RSI: 36.10
[Recent News (last 7 days)]
UK Parliament Member Wants You to Pay Your Taxes with Bitcoin: A member of the British Parliament wants UK residents to be able to pay their local taxes and utility bills using bitcoin. Eddie Hughes, a conservative MP (member of Parliament) for the Walsall North constituency, said this would be a great first step toward mainstream adoption of crypto.
Hughes said it’s time for other members of Parliament to familiarize themselves with cryptocurrencies and blockchain because the revolutionary technologies and the buzz surrounding them aren’t going away,Express UKreported.
“It gets talked about a lot wherever you go in the UK, and as MPs we have a duty to understand it,” said Hughes, a self-proclaimed “crypto enthusiast with amateur knowledge.”
The 50-year-old lawmaker noted that the British charity RNLI (Royal National Lifeboat Institution) recently started accepting cryptocurrency donations.
“If we can do that, what’s to stop us being able to pay council tax and other bills with bitcoin?” Hughes asked.
Hughes’ suggestion comes two weeks after Ohio became the first US state to allow businesses topay taxes using bitcoin.
The state government has partnered with crypto payment processor BitPay to manage the payment in crypto and conversion to dollars, as CCN reported.
The idea is the brainchild of Ohio’s Republican state treasurer, Josh Mandel, a cryptocurrency fan who says bitcoin is “a legitimate form of currency.”
Mandel, an attorney, said he birthed the idea because he wants his state to become a leader in the US crypto market.
“Ohio is a place that’s embracing cryptocurrency, embracing blockchain technology, and sending the message to the rest of the country — to software developers, to entrepreneurs and others — that Ohio is open for business,”Mandel gushed.
Similarly, MP Eddie Hughes wants the UK to “plant a flag” and become a world leader in the burgeoning cryptocurrency industry.
“You’re either ahead of the curve or you’re behind the curve,” Hughes said. “Our country is in an interesting position right now. We are at a crossroads and we’re about to determine our future – one in which taking the lead in this field could prove very beneficial.”
Hughes said part of the reason why cryptocurrencies are not more widely adopted is because many people are unfamiliar with them.
“People not understanding how the transaction works is holding us back in terms of mass adoption,” he said. Hughes insists that once people understand how blockchain and crypto work, they will embrace it.
Eddie Hughes’ sense of urgency is mirrored across the pond by crypto-savvy US lawmakers.
As CCN reported, there’s a major push among some US Congressmen toposition the United Statesas a leader in the crypto industry.
Last week, Reps. Darren Soto and Ted Budd introduced two bills to prevent cryptocurrency price manipulation and enhance the United States’ position as a market leader.
In a joint statement, Soto and Budd said cryptocurrencies and blockchain have “profound potential” to bolster the economy.
“Virtual currencies and the underlying blockchain technology have a profound potential to be a driver of economic growth,” the congressmen said. “That’s why we must ensure that the United States is at the forefront.”
Soto and Budd said the laws they proposed would protect investors without hampering the “environment of innovation” that would maximize the groundbreaking potential of these technologies.
Featured Image fromWikimedia Commons
The postUK Parliament Member Wants You to Pay Your Taxes with Bitcoinappeared first onCCN. || UK Parliament Member Wants You to Pay Your Taxes with Bitcoin: eddie hughes parliament united kingdom bitcoin crypto A member of the British Parliament wants UK residents to be able to pay their local taxes and utility bills using bitcoin. Eddie Hughes, a conservative MP (member of Parliament) for the Walsall North constituency, said this would be a great first step toward mainstream adoption of crypto. Hughes said it’s time for other members of Parliament to familiarize themselves with cryptocurrencies and blockchain because the revolutionary technologies and the buzz surrounding them aren’t going away, Express UK reported. Crypto is ‘Talked About a Lot’ in UK “It gets talked about a lot wherever you go in the UK, and as MPs we have a duty to understand it,” said Hughes, a self-proclaimed “crypto enthusiast with amateur knowledge.” The 50-year-old lawmaker noted that the British charity RNLI (Royal National Lifeboat Institution) recently started accepting cryptocurrency donations. “If we can do that, what’s to stop us being able to pay council tax and other bills with bitcoin?” Hughes asked. Ohio Businesses Can Pay Taxes with Bitcoin Hughes’ suggestion comes two weeks after Ohio became the first US state to allow businesses to pay taxes using bitcoin . The state government has partnered with crypto payment processor BitPay to manage the payment in crypto and conversion to dollars, as CCN reported. The idea is the brainchild of Ohio’s Republican state treasurer, Josh Mandel, a cryptocurrency fan who says bitcoin is “a legitimate form of currency.” Mainstream: Ohio Businesses Can Now Pay Taxes with Bitcoin https://t.co/hH7dcLItRj — CCN (@CryptoCoinsNews) November 26, 2018 Mandel, an attorney, said he birthed the idea because he wants his state to become a leader in the US crypto market. “Ohio is a place that’s embracing cryptocurrency, embracing blockchain technology, and sending the message to the rest of the country — to software developers, to entrepreneurs and others — that Ohio is open for business,” Mandel gushed . Story continues ‘You’re Either Ahead of the Curve or Behind’ Similarly, MP Eddie Hughes wants the UK to “plant a flag” and become a world leader in the burgeoning cryptocurrency industry. “You’re either ahead of the curve or you’re behind the curve,” Hughes said. “Our country is in an interesting position right now. We are at a crossroads and we’re about to determine our future – one in which taking the lead in this field could prove very beneficial.” Hughes said part of the reason why cryptocurrencies are not more widely adopted is because many people are unfamiliar with them. “People not understanding how the transaction works is holding us back in terms of mass adoption,” he said. Hughes insists that once people understand how blockchain and crypto work, they will embrace it. US Lawmakers: Let Crypto Fuel Economic Boom Eddie Hughes’ sense of urgency is mirrored across the pond by crypto-savvy US lawmakers. As CCN reported, there’s a major push among some US Congressmen to position the United States as a leader in the crypto industry. Last week, Reps. Darren Soto and Ted Budd introduced two bills to prevent cryptocurrency price manipulation and enhance the United States’ position as a market leader. US Bills Seeks to Protect Cryptocurrency Investors from Market Manipulation https://t.co/xeTXBHA5vZ — CCN (@CryptoCoinsNews) December 7, 2018 In a joint statement, Soto and Budd said cryptocurrencies and blockchain have “profound potential” to bolster the economy. “Virtual currencies and the underlying blockchain technology have a profound potential to be a driver of economic growth,” the congressmen said. “That’s why we must ensure that the United States is at the forefront.” Soto and Budd said the laws they proposed would protect investors without hampering the “environment of innovation” that would maximize the groundbreaking potential of these technologies. Featured Image from Wikimedia Commons The post UK Parliament Member Wants You to Pay Your Taxes with Bitcoin appeared first on CCN . || UK Parliament Member Wants You to Pay Your Taxes with Bitcoin: A member of the British Parliament wants UK residents to be able to pay their local taxes and utility bills using bitcoin. Eddie Hughes, a conservative MP (member of Parliament) for the Walsall North constituency, said this would be a great first step toward mainstream adoption of crypto.
Hughes said it’s time for other members of Parliament to familiarize themselves with cryptocurrencies and blockchain because the revolutionary technologies and the buzz surrounding them aren’t going away,Express UKreported.
“It gets talked about a lot wherever you go in the UK, and as MPs we have a duty to understand it,” said Hughes, a self-proclaimed “crypto enthusiast with amateur knowledge.”
The 50-year-old lawmaker noted that the British charity RNLI (Royal National Lifeboat Institution) recently started accepting cryptocurrency donations.
“If we can do that, what’s to stop us being able to pay council tax and other bills with bitcoin?” Hughes asked.
Hughes’ suggestion comes two weeks after Ohio became the first US state to allow businesses topay taxes using bitcoin.
The state government has partnered with crypto payment processor BitPay to manage the payment in crypto and conversion to dollars, as CCN reported.
The idea is the brainchild of Ohio’s Republican state treasurer, Josh Mandel, a cryptocurrency fan who says bitcoin is “a legitimate form of currency.”
Mandel, an attorney, said he birthed the idea because he wants his state to become a leader in the US crypto market.
“Ohio is a place that’s embracing cryptocurrency, embracing blockchain technology, and sending the message to the rest of the country — to software developers, to entrepreneurs and others — that Ohio is open for business,”Mandel gushed.
Similarly, MP Eddie Hughes wants the UK to “plant a flag” and become a world leader in the burgeoning cryptocurrency industry.
“You’re either ahead of the curve or you’re behind the curve,” Hughes said. “Our country is in an interesting position right now. We are at a crossroads and we’re about to determine our future – one in which taking the lead in this field could prove very beneficial.”
Hughes said part of the reason why cryptocurrencies are not more widely adopted is because many people are unfamiliar with them.
“People not understanding how the transaction works is holding us back in terms of mass adoption,” he said. Hughes insists that once people understand how blockchain and crypto work, they will embrace it.
Eddie Hughes’ sense of urgency is mirrored across the pond by crypto-savvy US lawmakers.
As CCN reported, there’s a major push among some US Congressmen toposition the United Statesas a leader in the crypto industry.
Last week, Reps. Darren Soto and Ted Budd introduced two bills to prevent cryptocurrency price manipulation and enhance the United States’ position as a market leader.
In a joint statement, Soto and Budd said cryptocurrencies and blockchain have “profound potential” to bolster the economy.
“Virtual currencies and the underlying blockchain technology have a profound potential to be a driver of economic growth,” the congressmen said. “That’s why we must ensure that the United States is at the forefront.”
Soto and Budd said the laws they proposed would protect investors without hampering the “environment of innovation” that would maximize the groundbreaking potential of these technologies.
Featured Image fromWikimedia Commons
The postUK Parliament Member Wants You to Pay Your Taxes with Bitcoinappeared first onCCN. || An ETF to Capitalize on Companies that Prioritize American Workers: This article was originally published on ETFTrends.com. Socially responsible ETFs are more than a fell good investment. Strategies that track companies with the best interest of Americans at heart have also turned around a better return. Americas Most JUST Companies consistently outperform their peers in wages, job creation, work-life balance, environmental impact, and return on equity, Martin Whittaker, CEO of JUST Capital, said in a note. Aligning corporate behavior with the priorities of the American people is good for workers and good for business. According to a recent survey conducted by JUST Capital and Forbes, when compared to the Russell 1000 peers, America's Most JUST Companies, which includes the JUST 100 list of top companies, have on average pay their median workers 26% more, pay a living wage to 12% more of their workers, are 9 times more likely to have conducted gender pay equity analyses, are 4 times more likely to have PTO and parental leave policy disclosures, are nearly 2 times more likely to offer flexible work hours or day care, are nearly 4 times more likely to have diversity targets, recycle 8 times more waste, give 6 times as much to charitable causes per dollar of revenue and employ 2.4 times as many U.S. workers. More importantly to investors, these companies that look out for their American workers are also more likely to see improved business activity. For example, these JUST companies pay 99% fewer sales terms fines, 90% fewer environmental fines, 71% fewer worker safety fines and 41% fewer EEOC fines per dollar of revenue. Furthermore, JUST companies Have a 5% higher return-on-equity at 23% versus the 18% found for the average Russell 1000 company. Trust in our institutions is more important than ever right now. The JUST 100 recognizes companies that are doing right within society, Forbes Chief Content Officer Randall Lane said in a note. The Rankings help companies gauge their progress on benchmarks that go far beyond quarterly earnings toward long-term value creation for all stakeholders. Story continues JUST Capital, a nonprofit founded by Paul Tudor Jones that measures and ranks companies on the leading priorities of the American public, has put together the JUST U.S. Large Cap Diversified Index , which acts as the underlying benchmark for the Goldman Sachs JUST U.S. Large Cap Equity ETF ( JUST ) . JUST is based on the Russell 1000 benchmark and targets companies that score well on environmental, social and governance metrics. To screen for its ESG-focused components, Just Capital conducts an annual survey taken from the American public and analyzes 120,000 data points across 85 unique metrics to score companies based on how they perform on key issues prioritized by the public. For instance, companies are ranked from worker issues, like providing a living wage and workplace safety; to customer concerns, such as privacy protection and truthful advertising; to environmental impacts, including minimizing pollution and resource efficiency. Companies are ranked by overall score, and the top 50% are selected and weighted by market cap. The indexing methodology hopes to capitalize on the fact that companies found in the socially responsible index historically pay better, create more jobs, pay fewer fines, give twice as much to charity, emit less greenhouse gas, and have higher return on equity, compared with the rest of the Russell 1000. For more information on ESG-related investments, visit our socially responsible ETFs category . POPULAR ARTICLES AND RESOURCES FROM ETFTRENDS.COM SPY ETF Quote VOO ETF Quote QQQ ETF Quote Top 34 Gold ETFs Top 34 Oil ETFs 6 Strategies to Consider After Your Family Experiences a Significant Wealth Event Keep the Menorah LIT With This ETF Will Cryptocurrencies Offer Safe Haven If Global Economy Slows? Bitcoin: Battered & Bruised Hitting 2018 Low of $3,280 A Year-End Report Card for Industry Predictions in 2018 READ MORE AT ETFTRENDS.COM > || An ETF to Capitalize on Companies that Prioritize American Workers: This article was originally published onETFTrends.com.
Socially responsible ETFs are more than a fell good investment. Strategies that track companies with the best interest of Americans at heart have also turned around a better return.
“America’s Most JUST Companies consistently outperform their peers in wages, job creation, work-life balance, environmental impact, and return on equity,” Martin Whittaker, CEO of JUST Capital, said in a note. “Aligning corporate behavior with the priorities of the American people is good for workers and good for business.”
According to a recent survey conducted by JUST Capital and Forbes, when compared to the Russell 1000 peers, America's Most JUST Companies, which includes the JUST 100 list of top companies, have on average pay their median workers 26% more, pay a living wage to 12% more of their workers, are 9 times more likely to have conducted gender pay equity analyses, are 4 times more likely to have PTO and parental leave policy disclosures, are nearly 2 times more likely to offer flexible work hours or day care, are nearly 4 times more likely to have diversity targets, recycle 8 times more waste, give 6 times as much to charitable causes per dollar of revenue and employ 2.4 times as many U.S. workers.
More importantly to investors, these companies that look out for their American workers are also more likely to see improved business activity. For example, these JUST companies pay 99% fewer sales terms fines, 90% fewer environmental fines, 71% fewer worker safety fines and 41% fewer EEOC fines per dollar of revenue. Furthermore, JUST companies Have a 5% higher return-on-equity at 23% versus the 18% found for the average Russell 1000 company.
“Trust in our institutions is more important than ever right now. The JUST 100 recognizes companies that are doing right within society,” Forbes Chief Content Officer Randall Lane said in a note. “The Rankings help companies gauge their progress on benchmarks that go far beyond quarterly earnings toward long-term value creation for all stakeholders.”
JUST Capital, a nonprofit founded by Paul Tudor Jones that measures and ranks companies on the leading priorities of the American public, has put together the JUST U.S. Large Cap Diversified Index , which acts as the underlying benchmark for theGoldman Sachs JUST U.S. Large Cap Equity ETF (JUST) . JUST is based on the Russell 1000 benchmark and targets companies that score well on environmental, social and governance metrics.
To screen for its ESG-focused components, Just Capital conducts an annual survey taken from the American public and analyzes 120,000 data points across 85 unique metrics to score companies based on how they perform on key issues prioritized by the public. For instance, companies are ranked from worker issues, like providing a living wage and workplace safety; to customer concerns, such as privacy protection and truthful advertising; to environmental impacts, including minimizing pollution and resource efficiency. Companies are ranked by overall score, and the top 50% are selected and weighted by market cap.
The indexing methodology hopes to capitalize on the fact that companies found in the socially responsible index historically pay better, create more jobs, pay fewer fines, give twice as much to charity, emit less greenhouse gas, and have higher return on equity, compared with the rest of the Russell 1000.
For more information on ESG-related investments, visit oursocially responsible ETFs category.
POPULAR ARTICLES AND RESOURCES FROM ETFTRENDS.COM
• SPY ETF Quote
• VOO ETF Quote
• QQQ ETF Quote
• Top 34 Gold ETFs
• Top 34 Oil ETFs
• 6 Strategies to Consider After Your Family Experiences a Significant Wealth Event
• Keep the Menorah ‘LIT’ With This ETF
• Will Cryptocurrencies Offer Safe Haven If Global Economy Slows?
• Bitcoin: Battered & Bruised Hitting 2018 Low of $3,280
• A Year-End Report Card for Industry Predictions in 2018
READ MORE AT ETFTRENDS.COM > || Success of Leveraged South Korea ETF Hinges on US-China Trade Deal: This article was originally published on ETFTrends.com. Without a doubt, the fate of emerging markets in 2019 could hinge on the United States and China finally putting to rest their trade differences with a tangible agreement, but for single-country exchange-traded funds (ETFs) like the Direxion Daily South Korea Bull 3X ETF ( KORU ) , its fortunes could change dramatically as wells as benefit traders of KORU. South Korea itself is rife for foreign investment as it boasts Asia's fourth largest economy based on gross domestic product and in terms of political stability, it's situated in the top 28 percent of the Corruption Index published by Transparency International . Nonetheless, trade wars continue to be a challenge--something the country forecasted in the early beginnings of the trade spat between China and the US. South Korean exporters depend heavily on China and the US. It will be one of the hardest hit economies in the world if an all-out trade war breaks out, said Kim Yun-hee, a senior trade commissioner from the Korea Trade-Investment Promotion Agency (KOTRA) back in July. Many of these companies will be hit indirectly because they sell intermediate goods to China and are linked to US companies in China." Over the summer, the South China Morning Post reported that the impact of the tariff-for-tariff battle between the US and China would cause South Korean exports to drop by 6.4 percent or $36.7 billion based on numbers provided by the Korea International Trade Association (KITA). Two months later, an article in the Nikkei Asian Review reported that South Korean trade minister Kim Hyun-chong said the country experienced its biggest fall in exports in the last two years--a sign that the proposed impact of the trade wars was indeed coming into fruition. "If the U.S.-China trade war is not solved within this year, it will inevitably affect our exports negatively," said Park Hee-chan, an economist at Mirae Asset Daewoo. "Still, it is not easy to measure the impacts in numbers, but I am sure that global trade will be under downside pressure." Story continues The capital markets got a reprieve from the ongoing trade wars between the United States and China as U.S. President Donald Trump and Chinese president Xi Jinping agreed to cease fire on their tariff-for-tariff battle last week. As part of the agreement, both nations agreed to withhold imposing further tariffs on each other for 90 days while they work out a firm, ironclad deal to start 2019. In the meantime, the troubles are mounting for South Korea as The Malaysian Reserve reported that unemployment in the country is on the rise. According to the report, "while minimum wage in the country has increased by 16% at the turn of this year and boosted domestic consumption, President Moon Jae-ins policy has backfired as small businesses struggle to afford the mandatory wage hikes. As a result, workers are laid off to maintain costs." South Korea will certainly be watching how trade deal negotiations unfold as will the rest of the emerging markets--a permanent trade deal could certainly give the country and KORU the boost it needs. Related: South Korea ETF: A Buy the Dip Opportunity For more market trends, visit ETF Trends . POPULAR ARTICLES AND RESOURCES FROM ETFTRENDS.COM SPY ETF Quote VOO ETF Quote QQQ ETF Quote Top 34 Gold ETFs Top 34 Oil ETFs 6 Strategies to Consider After Your Family Experiences a Significant Wealth Event Keep the Menorah LIT With This ETF Will Cryptocurrencies Offer Safe Haven If Global Economy Slows? Bitcoin: Battered & Bruised Hitting 2018 Low of $3,280 A Year-End Report Card for Industry Predictions in 2018 READ MORE AT ETFTRENDS.COM > || Success of Leveraged South Korea ETF Hinges on US-China Trade Deal: This article was originally published onETFTrends.com.
Without a doubt, the fate of emerging markets in 2019 could hinge on the United States and China finally putting to rest their trade differences with a tangible agreement, but for single-country exchange-traded funds (ETFs) like theDirexion Daily South Korea Bull 3X ETF (KORU) , its fortunes could change dramatically as wells as benefit traders of KORU.
South Korea itself is rife for foreign investment as it boasts Asia's fourth largest economy based on gross domestic product and in terms of political stability, it's situated in the top 28 percent of the Corruption Index published byTransparency International. Nonetheless, trade wars continue to be a challenge--something the country forecasted in the early beginnings of the trade spat between China and the US.
“South Korean exporters depend heavily on China and the US. It will be one of the hardest hit economies in the world if an all-out trade war breaks out,” said Kim Yun-hee, a senior trade commissioner from the Korea Trade-Investment Promotion Agency (KOTRA) back in July. “Many of these companies will be hit indirectly because they sell intermediate goods to China and are linked to US companies in China."
Over the summer, the South China Morning Postreportedthat the impact of the tariff-for-tariff battle between the US and China would cause South Korean exports to drop by 6.4 percent or $36.7 billion based on numbers provided by the Korea International Trade Association (KITA).
Two months later,an articlein the Nikkei Asian Review reported that South Korean trade minister Kim Hyun-chong said the country experienced its biggest fall in exports in the last two years--a sign that the proposed impact of the trade wars was indeed coming into fruition.
"If the U.S.-China trade war is not solved within this year, it will inevitably affect our exports negatively,"saidPark Hee-chan, an economist at Mirae Asset Daewoo. "Still, it is not easy to measure the impacts in numbers, but I am sure that global trade will be under downside pressure."
The capital markets got a reprieve from the ongoing trade wars between the United States and China as U.S. President Donald Trump and Chinese president Xi Jinping agreed to cease fire on their tariff-for-tariff battle last week. As part of the agreement, both nations agreed to withhold imposing further tariffs on each other for 90 days while they work out a firm, ironclad deal to start 2019.
In the meantime, the troubles are mounting for South Korea as The Malaysian Reservereportedthat unemployment in the country is on the rise. According to the report, "while minimum wage in the country has increased by 16% at the turn of this year and boosted domestic consumption, President Moon Jae-in’s policy has backfired as small businesses struggle to afford the mandatory wage hikes. As a result, workers are laid off to maintain costs."
South Korea will certainly be watching how trade deal negotiations unfold as will the rest of the emerging markets--a permanent trade deal could certainly give the country and KORU the boost it needs.
Related:South Korea ETF: A Buy the Dip Opportunity
For more market trends, visitETF Trends.
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READ MORE AT ETFTRENDS.COM > || Brexit Vote Risks Keep Europe ETFs on Their Toes: This article was originally published on ETFTrends.com. European markets and region-related exchange traded funds were among the worst off areas of the global markets Monday after British Prime Minister Theresa May unexpectedly delayed a vote for the Brexit deal on the eve of the scheduled parliamentary assembly. On Monday, Vanguard FTSE Europe ETF ( VGK ) was down 1.0% and iShares MSCI EMU ETF ( EZU ) was 0.8% lower, with both broad Europe ETFs trading near their lowest level since April 2017. May's decision to delay the vote could pave the way for a number of uncertain outcomes, such as a disorderly Brexit without a deal, a last minute deal pushed through just weeks before Britain's March 29 exit or another E.U. referendum, Reuters reports. If we went ahead and held the vote tomorrow the deal would be rejected by a significant margin, May told parliament, adding that she was confident it was the right choice. We will therefore defer the vote scheduled for tomorrow and not proceed to divide the House at this time." Kenny Polcari of ButcherJoseph Asset Management argued the latest developments over Brexit only added onto the global headaches that have riled markets in recent weeks, the Washington Post reports. The market has been focusing on all the negative stories, Polcari told the Washington Post. As long as the tone is negative, any negative story is going to cause a market overreaction. Brexit is certainly one of them. All of a sudden, Brexit has hit a real speed bump. Thats whats going on. Many remained jittery on global markets in recent weeks as the U.S. maintains its hard line approach on trade talks with China. Market observers saw the hiccup in the critical parliamentary vote as another cloud of uncertainty that covered the global outlook. This is a tough market, Steve Chiavarone, who runs Federated Investments global allocation fund, told the Wall Street Journal , adding that global tensions are leading investors to price in a recession where you see some stocks down 30% or 40%. Story continues For more information on the European markets, visit our Europe category . POPULAR ARTICLES AND RESOURCES FROM ETFTRENDS.COM SPY ETF Quote VOO ETF Quote QQQ ETF Quote Top 34 Gold ETFs Top 34 Oil ETFs 6 Strategies to Consider After Your Family Experiences a Significant Wealth Event Keep the Menorah LIT With This ETF Will Cryptocurrencies Offer Safe Haven If Global Economy Slows? Bitcoin: Battered & Bruised Hitting 2018 Low of $3,280 A Year-End Report Card for Industry Predictions in 2018 READ MORE AT ETFTRENDS.COM > || Brexit Vote Risks Keep Europe ETFs on Their Toes: This article was originally published onETFTrends.com.
European markets and region-related exchange traded funds were among the worst off areas of the global markets Monday after British Prime Minister Theresa May unexpectedly delayed a vote for the Brexit deal on the eve of the scheduled parliamentary assembly.
On Monday,Vanguard FTSE Europe ETF (VGK) was down 1.0% andiShares MSCI EMU ETF (EZU) was 0.8% lower, with both broad Europe ETFs trading near their lowest level since April 2017.
May's decision to delay the vote could pave the way for a number of uncertain outcomes, such as a disorderly Brexit without a deal, a last minute deal pushed through just weeks before Britain's March 29 exit or another E.U. referendum,Reutersreports.
“If we went ahead and held the vote tomorrow the deal would be rejected by a significant margin,” May told parliament, adding that she was confident it was the right choice. “We will therefore defer the vote scheduled for tomorrow and not proceed to divide the House at this time."
Kenny Polcari of ButcherJoseph Asset Management argued the latest developments over Brexit only added onto the global headaches that have riled markets in recent weeks, theWashington Postreports.
“The market has been focusing on all the negative stories,” Polcari told the Washington Post. “As long as the tone is negative, any negative story is going to cause a market overreaction. Brexit is certainly one of them. All of a sudden, Brexit has hit a real speed bump. That’s what’s going on.”
Many remained jittery on global markets in recent weeks as the U.S. maintains its hard line approach on trade talks with China. Market observers saw the hiccup in the critical parliamentary vote as another cloud of uncertainty that covered the global outlook.
“This is a tough market,” Steve Chiavarone, who runs Federated Investments’ global allocation fund, told theWall Street Journal, adding that global tensions are leading investors to price “in a recession where you see some stocks down 30% or 40%.”
For more information on the European markets, visit ourEurope category.
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READ MORE AT ETFTRENDS.COM > || Areas of Value That ETF Investors Should Look Into: This article was originally published onETFTrends.com.
Despite the bout of market volatility, investors should not totally forsake investing in the markets and ETFs all together, but people should consider options to safely ride out the environment ahead.
"I think you can't take your eye off the ball, and the ball is long-term investing," Jon Maier, SVP and Chief Investment Officer for Global X, said at the Charles Schwab IMPACT 2018 conference.
"You have to think about diversification and your investors' time horizon and overall goals," he added.
After the year of volatility, there are a number of markets that have been battered and beaten down, which may be a buying opportunity for long-term investors to get in on the cheap. For example, the selling in the emerging markets, notably China, could be a cheaper entry point for many investors with a long-term horizon.
"Valuations are cheap and China is a long-term play. It's down a huge amount this year for sure, but China - it is an emerging market - it's a very special emerging market. It's the second largest economy in the world. China is not going away," Maier said.
Global X offers a number of sector-specific China ETF plays to help investors gain targeted exposure to the Chinese markets, including theGlobal X MSCI China Consumer ETF (CHIQ) ,Global X MSCI China Energy ETF (CHIE) ,Global XMSCI China Financials ETF (CHIX) ,Global X MSCI China Materials ETF (CHIM) ,Global X MSCI China Industrials ETF (CHII) andGlobal X MSCI China Communication Services ETF (CHIC) .
Maier also argued that income remains a prominent theme with investors as many will have to adapt to the changing market environment.
"I think there's a lot of value in income oriented stocks," Maier said.
"We are seeing flows into some of our products like preferreds - PFFD, yielding, you know, in the five-and-a-half percent range," he added.
Preferred stocks are a type of hybrid security that show bond- and equity-like characteristics. The shares are issued by financial institutions, utilities and telecom companies, among others. Within the securities hierarchy, preferreds are senior to common stocks but junior to corporate bonds. Additionally, preferred stocks issue dividends on a regular basis, but investors don’t usually enjoy capital appreciation on par with common shares.
TheGlobal X U.S. Preferred ETF (Cboe:PFFD)features floating, variable and fixed-rate preferreds, which can help investors endure higher interest rates. PFFD shwos a 5.88% 30-day SEC yield.
For more market-related commentary from Tom Lydon and other industry experts, visit our ETF Trendsvideo category.
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• Top 34 Gold ETFs
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• Keep the Menorah ‘LIT’ With This ETF
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• Bitcoin: Battered & Bruised Hitting 2018 Low of $3,280
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READ MORE AT ETFTRENDS.COM > || Areas of Value That ETF Investors Should Look Into: This article was originally published on ETFTrends.com. Despite the bout of market volatility, investors should not totally forsake investing in the markets and ETFs all together, but people should consider options to safely ride out the environment ahead. "I think you can't take your eye off the ball, and the ball is long-term investing," Jon Maier, SVP and Chief Investment Officer for Global X, said at the Charles Schwab IMPACT 2018 conference. "You have to think about diversification and your investors' time horizon and overall goals," he added. After the year of volatility, there are a number of markets that have been battered and beaten down, which may be a buying opportunity for long-term investors to get in on the cheap. For example, the selling in the emerging markets, notably China, could be a cheaper entry point for many investors with a long-term horizon. "Valuations are cheap and China is a long-term play. It's down a huge amount this year for sure, but China - it is an emerging market - it's a very special emerging market. It's the second largest economy in the world. China is not going away," Maier said. Global X offers a number of sector-specific China ETF plays to help investors gain targeted exposure to the Chinese markets, including the Global X MSCI China Consumer ETF ( CHIQ ) , Global X MSCI China Energy ETF ( CHIE ) , Global XMSCI China Financials ETF ( CHIX ) , Global X MSCI China Materials ETF ( CHIM ) , Global X MSCI China Industrials ETF ( CHII ) and Global X MSCI China Communication Services ETF ( CHIC ) . Maier also argued that income remains a prominent theme with investors as many will have to adapt to the changing market environment. "I think there's a lot of value in income oriented stocks," Maier said. "We are seeing flows into some of our products like preferreds - PFFD, yielding, you know, in the five-and-a-half percent range," he added. Preferred stocks are a type of hybrid security that show bond- and equity-like characteristics. The shares are issued by financial institutions, utilities and telecom companies, among others. Within the securities hierarchy, preferreds are senior to common stocks but junior to corporate bonds. Additionally, preferred stocks issue dividends on a regular basis, but investors don’t usually enjoy capital appreciation on par with common shares. The Global X U.S. Preferred ETF (Cboe:PFFD) features floating, variable and fixed-rate preferreds, which can help investors endure higher interest rates. PFFD shwos a 5.88% 30-day SEC yield. For more market-related commentary from Tom Lydon and other industry experts, visit our ETF Trends video category . Story continues POPULAR ARTICLES AND RESOURCES FROM ETFTRENDS.COM SPY ETF Quote VOO ETF Quote QQQ ETF Quote Top 34 Gold ETFs Top 34 Oil ETFs 6 Strategies to Consider After Your Family Experiences a Significant Wealth Event Keep the Menorah ‘LIT’ With This ETF Will Cryptocurrencies Offer Safe Haven If Global Economy Slows? Bitcoin: Battered & Bruised Hitting 2018 Low of $3,280 A Year-End Report Card for Industry Predictions in 2018 READ MORE AT ETFTRENDS.COM > View comments || Mastercard Applies For New Patent for Anonymous Blockchain Transactions – A Regulated Bitcoin Tumbler?: Mastercard, the company who have gone through the entire process oflaughing,fighting, and thenembracing Bitcoin(and then attacking it again), have applied for another newpatent in the blockchain space. Their last one was in regards to — we’re not making this up —a fractional reserve crypto bank. They describe a novel method of anonymizing transactions which does not, in function, represent those in place by Monero or other privacy coins.
Instead, the method described sounds a lot likecoin mixing, a service that various businesses in the community have offered for years.
For those who are not aware, coin mixing (also calledtumbling) is the process of taking a lot of different inputs, from senders, tumbling them together like a washing machine, and pushing out new transactions from the recipient address – thus obsfuscating the original source of the funds.
There are multiple methods of tumbling bitcoins. Mixing coins or tumbling them is no more illegal than getting change at a gas station. In neither case can you be sure that the previous holders of the units were not criminals or engaged in criminal activity. This is where the concept of fungibility is most applicable.
The Mastercard method is described as follows;
The blockchain node may receive the request and may process the transaction to transfer the specific amount from the processing server’s blockchain wallet to that of the recipient device. In some embodiments, the processing server may notify the sender device and/or the recipient device of the transfer, which may also include the providing of a transaction record identifier for the second transaction.
The above is exactly how Bitcoin mixing services work. You create a transaction on the mixer’s site, and then you tell it how much you want to send and where you want to send it. You can also specify, with most decent services, a number of “rounds” you wish to use. This means that the coins will be tumbled between wallets on the server before being sent.
The author hasn’t seen a tumblr that does the following though, where more than one wallet will be used to actually send the funds and the amounts will be changed.
In some embodiments, the processing server may utilize multiple blockchain wallets to further increase anonymity. In such embodiments, the processing server may possess a plurality of different cryptographic key pairs. […]
It’s unclear what Mastercard intends to do with this patent. A regulated financial company, they’ll certainly not launch any products or businesses based on the model without regulatory approval, meaning that if they did such, there’d be what amount to regulated, legal Bitcoin tumblers. In the case of Mastercard-originating transactions, though, at the very least the sender’s information would have to be retained for KYC and AML laws to be respected.
Do they intend to get this patent and then enforce the patent against companies which are already doing a similar service, often with similar or higher levels of anonymity? The move raises lots of question in any cryptonaught’s mind, and CCN has reached out to Mastercard for comment as to the nature of their plans around this technology they seek to patent.
Featured image from Shutterstock.
The postMastercard Applies For New Patent for Anonymous Blockchain Transactions – A Regulated Bitcoin Tumbler?appeared first onCCN. || Mastercard Applies For New Patent for Anonymous Blockchain Transactions – A Regulated Bitcoin Tumbler?: Mastercard, the company who have gone through the entire process oflaughing,fighting, and thenembracing Bitcoin(and then attacking it again), have applied for another newpatent in the blockchain space. Their last one was in regards to — we’re not making this up —a fractional reserve crypto bank. They describe a novel method of anonymizing transactions which does not, in function, represent those in place by Monero or other privacy coins.
Instead, the method described sounds a lot likecoin mixing, a service that various businesses in the community have offered for years.
For those who are not aware, coin mixing (also calledtumbling) is the process of taking a lot of different inputs, from senders, tumbling them together like a washing machine, and pushing out new transactions from the recipient address – thus obsfuscating the original source of the funds.
There are multiple methods of tumbling bitcoins. Mixing coins or tumbling them is no more illegal than getting change at a gas station. In neither case can you be sure that the previous holders of the units were not criminals or engaged in criminal activity. This is where the concept of fungibility is most applicable.
The Mastercard method is described as follows;
The blockchain node may receive the request and may process the transaction to transfer the specific amount from the processing server’s blockchain wallet to that of the recipient device. In some embodiments, the processing server may notify the sender device and/or the recipient device of the transfer, which may also include the providing of a transaction record identifier for the second transaction.
The above is exactly how Bitcoin mixing services work. You create a transaction on the mixer’s site, and then you tell it how much you want to send and where you want to send it. You can also specify, with most decent services, a number of “rounds” you wish to use. This means that the coins will be tumbled between wallets on the server before being sent.
The author hasn’t seen a tumblr that does the following though, where more than one wallet will be used to actually send the funds and the amounts will be changed.
In some embodiments, the processing server may utilize multiple blockchain wallets to further increase anonymity. In such embodiments, the processing server may possess a plurality of different cryptographic key pairs. […]
It’s unclear what Mastercard intends to do with this patent. A regulated financial company, they’ll certainly not launch any products or businesses based on the model without regulatory approval, meaning that if they did such, there’d be what amount to regulated, legal Bitcoin tumblers. In the case of Mastercard-originating transactions, though, at the very least the sender’s information would have to be retained for KYC and AML laws to be respected.
Do they intend to get this patent and then enforce the patent against companies which are already doing a similar service, often with similar or higher levels of anonymity? The move raises lots of question in any cryptonaught’s mind, and CCN has reached out to Mastercard for comment as to the nature of their plans around this technology they seek to patent.
Featured image from Shutterstock.
The postMastercard Applies For New Patent for Anonymous Blockchain Transactions – A Regulated Bitcoin Tumbler?appeared first onCCN. || Mastercard Applies For New Patent for Anonymous Blockchain Transactions – A Regulated Bitcoin Tumbler?: mastercard Mastercard, the company who have gone through the entire process of laughing , fighting , and then embracing Bitcoin ( and then attacking it again ), have applied for another new patent in the blockchain space . Their last one was in regards to — we’re not making this up — a fractional reserve crypto bank . They describe a novel method of anonymizing transactions which does not, in function, represent those in place by Monero or other privacy coins. Instead, the method described sounds a lot like coin mixing , a service that various businesses in the community have offered for years. For those who are not aware, coin mixing (also called tumbling ) is the process of taking a lot of different inputs, from senders, tumbling them together like a washing machine, and pushing out new transactions from the recipient address – thus obsfuscating the original source of the funds. There are multiple methods of tumbling bitcoins. Mixing coins or tumbling them is no more illegal than getting change at a gas station. In neither case can you be sure that the previous holders of the units were not criminals or engaged in criminal activity. This is where the concept of fungibility is most applicable. The Mastercard method is described as follows; The blockchain node may receive the request and may process the transaction to transfer the specific amount from the processing server’s blockchain wallet to that of the recipient device. In some embodiments, the processing server may notify the sender device and/or the recipient device of the transfer, which may also include the providing of a transaction record identifier for the second transaction. As a result, the sender may transfer a specific amount of digital currency to the recipient with increased anonymity, as the blockchain may reflect only that the sender sent currency to the processing server and that the recipient received currency from the processing server. When using the processing server across multiple transactions, and with multiple entities using the processing server, the true source or destination for any transaction is obscured to the point of being impossible to identify. If used for each transaction, a nefarious actor looking at the transactions for the sender 104 will only see transfers to and from the processing server, thus revealing no information about the sender’s spending habits, thus protecting the sender’s anonymity. Story continues The above is exactly how Bitcoin mixing services work. You create a transaction on the mixer’s site, and then you tell it how much you want to send and where you want to send it. You can also specify, with most decent services, a number of “rounds” you wish to use. This means that the coins will be tumbled between wallets on the server before being sent. The author hasn’t seen a tumblr that does the following though, where more than one wallet will be used to actually send the funds and the amounts will be changed. In some embodiments, the processing server may utilize multiple blockchain wallets to further increase anonymity. In such embodiments, the processing server may possess a plurality of different cryptographic key pairs. […] In some embodiments, the processing server may also anonymize transactions via the obscuring of transfer amounts. In such embodiments, the processing server may break up the second transaction (e.g., the transfer to the recipient’s blockchain wallet) into multiple transactions, where the total amounts from each of the transactions equals the specific amount being transferred to the recipient by the sender. In some cases, each of the transactions may transfer an equal amount of currency (e.g., a total transfer of 36 units of currency may be accomplished in three transactions of 12 units of currency). It’s unclear what Mastercard intends to do with this patent. A regulated financial company, they’ll certainly not launch any products or businesses based on the model without regulatory approval, meaning that if they did such, there’d be what amount to regulated, legal Bitcoin tumblers. In the case of Mastercard-originating transactions, though, at the very least the sender’s information would have to be retained for KYC and AML laws to be respected. Do they intend to get this patent and then enforce the patent against companies which are already doing a similar service, often with similar or higher levels of anonymity? The move raises lots of question in any cryptonaught’s mind, and CCN has reached out to Mastercard for comment as to the nature of their plans around this technology they seek to patent. Featured image from Shutterstock. The post Mastercard Applies For New Patent for Anonymous Blockchain Transactions – A Regulated Bitcoin Tumbler? appeared first on CCN . || Bitmain Follows Industry Trend, Shutters Operations in Israel: Chinese-based cryptomining firm Bitmain is shutting down the operations of Bitmaintech Israel, its research and development (R&D) center in Ra'anana, Israel, according to reports from local news outletGlobes.
The R&D center, which produced Bitmain'sfirst Israeli mining poolConnectBTC, was launched in 2016 to explore meaningful use cases of blockchain technology, as well as artificial intelligence for the company's Sophon project.As the market continues its bearish run, Bitmaintech will reportedly close down its operations and lay off 23 of its employees, including Gadi Glikberg, Bitmain's vice president of international sales and marketing, who held a managing role at the center.“The crypto market has undergone a shake-up in the past few months, which has forced Bitmain to examine its various activities around the globe and to refocus its business in accordance with the current situation," Glikberg revealed to employees.As the downward trend of the cryptocurrency market continues, blockchain companies are having to make do with layoffs to stay viable. Last week, Ethereum studio ConsenSys said it was cutting 13percent of its staffas the startup made moves to refocus its priorities.“Excited as we are about ConsenSys 2.0, our first step in this direction has been a difficult one: we are streamlining several parts of the business including ConsenSys Solutions, spokes, and hub services, leading to a 13% reduction of mesh members,” a statement from the company explained.Blockchain startup Steemitwas also forced to let go of 70 percent of its workforce, citing the continued bearish trend in the market. Steemit CEO Ned Scott announced the layoffs in a blog post where he revealed that the revenue could no longer cover the costs the company incurs because of "the weakness of the cryptocurrency market, the fiat returns on our automated selling of STEEM diminishing, and the growing costs of running full Steem nodes."
This article originally appeared onBitcoin Magazine. || Bitmain Follows Industry Trend, Shutters Operations in Israel: Bitmain Israel Chinese-based cryptomining firm Bitmain is shutting down the operations of Bitmaintech Israel, its research and development (R&D) center in Ra'anana, Israel, according to reports from local news outlet Globes . The R&D center, which produced Bitmain's first Israeli mining pool ConnectBTC, was launched in 2016 to explore meaningful use cases of blockchain technology, as well as artificial intelligence for the company's Sophon project. As the market continues its bearish run, Bitmaintech will reportedly close down its operations and lay off 23 of its employees, including Gadi Glikberg, Bitmain's vice president of international sales and marketing, who held a managing role at the center. The crypto market has undergone a shake-up in the past few months, which has forced Bitmain to examine its various activities around the globe and to refocus its business in accordance with the current situation," Glikberg revealed to employees. As the downward trend of the cryptocurrency market continues, blockchain companies are having to make do with layoffs to stay viable. Last week, Ethereum studio ConsenSys said it was cutting 13 percent of its staff as the startup made moves to refocus its priorities. Excited as we are about ConsenSys 2.0, our first step in this direction has been a difficult one: we are streamlining several parts of the business including ConsenSys Solutions, spokes, and hub services, leading to a 13% reduction of mesh members, a statement from the company explained. Blockchain startup Steemit was also forced to let go of 70 percent of its workforce, citing the continued bearish trend in the market. Steemit CEO Ned Scott announced the layoffs in a blog post where he revealed that the revenue could no longer cover the costs the company incurs because of "the weakness of the cryptocurrency market, the fiat returns on our automated selling of STEEM diminishing, and the growing costs of running full Steem nodes." This article originally appeared on Bitcoin Magazine . || Brexit – May Pulls the Plug on a Disaster Waiting to Happen…: Economic data out of the UK this morning failed to impress, but of greater significance was the harsh reality of what lies ahead for British Prime Minister Theresa May, the Brexiteers and really, the face of British politics that was once within the higher echelons of the G20.
Unsurprisingly, with an overwhelming majority going against the British PM ahead of tomorrow’s vote, there was an unprecedented decision to call off a parliamentary vote on the future of Britain.
Going into December, the general concern was that the EU and Britain would fail to find common ground, but in the end the EU Establishment was the least of Theresa May’s concern. Rebels within the Tory Party and the opposition were set and ready to bring down the house.
For all the faults that have been assigned to the current government, the decision to pull the plug today and attempt an impossible is an impressive one, particularly when considering the antagonism throughout the negotiation process.
For a Prime Minister mandated with getting the best for Britain, the decision to pull the plug must be considered a positive, a willingness to hear the cries of foul an attribute that many world leaders fail to hear, but the reality remains that, for the Britain and the economy, the uncertainty has just been exasperated.
So, the UK parliamentary vote has been delayed and, while there is some talk of a January vote, it’s up in the air and one thing the market doesn’t like is uncertainty.
We have a week until the EU Summit and how member states respond to the British PM’s decision to pull the plug on tomorrow’s vote will be key. Some may well seize on the opportunity to rattle the Pound and the Brits in an attempt to safeguard EU sovereignty.
Expect the opposition parties to amass united to attempt a vote of no confidence and assume that there will be some rhetoric from Brussels. It’s a big call to think that there is a better deal…
Shooting the messenger will be Jeremy Corbyn’s mandate for now, but it could end in tears for the Labour Party leader should he pursue this near term attack. Few if any were capable of delivering a deal and it could go the other way if the EU empathises with Theresa May and opens dialogue for a better deal.
Let’s face it, the UK economy is not a small one and the EU needs all the support it can get right now…
Unsurprisingly, the Pound hit more than a speed bump, sliding to as low as $1.2507 before steadying, the margin calls on the way down an exasperation of a trading environment not too dissimilar to the EU Referendum itself where many believed the vote would be to stay.
At the time of writing, Cable was down 1.25% to $1.2570.
Thisarticlewas originally posted on FX Empire
• Bitcoin And Ethereum Daily Price Forecast – BTC & ETH Lose Weekend’s Positive Price Action
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• China Down On Weak Trade, EU Market Down On Growth Fears, US Market Down On Global Weakness
• AUD/USD and NZD/USD Fundamental Daily Forecast – Uncertainty Over US-China Relations Keeping Lid on Rallies
• GBP/USD Price Forecast – British pound dumps again
• Gold Price Forecast – Gold markets continue to hang above barrier || Brexit May Pulls the Plug on a Disaster Waiting to Happen
: Economic data out of the UK this morning failed to impress, but of greater significance was the harsh reality of what lies ahead for British Prime Minister Theresa May, the Brexiteers and really, the face of British politics that was once within the higher echelons of the G20. Unsurprisingly, with an overwhelming majority going against the British PM ahead of tomorrows vote, there was an unprecedented decision to call off a parliamentary vote on the future of Britain. Going into December, the general concern was that the EU and Britain would fail to find common ground, but in the end the EU Establishment was the least of Theresa Mays concern. Rebels within the Tory Party and the opposition were set and ready to bring down the house. For all the faults that have been assigned to the current government, the decision to pull the plug today and attempt an impossible is an impressive one, particularly when considering the antagonism throughout the negotiation process. For a Prime Minister mandated with getting the best for Britain, the decision to pull the plug must be considered a positive, a willingness to hear the cries of foul an attribute that many world leaders fail to hear, but the reality remains that, for the Britain and the economy, the uncertainty has just been exasperated. So, the UK parliamentary vote has been delayed and, while there is some talk of a January vote, its up in the air and one thing the market doesnt like is uncertainty. We have a week until the EU Summit and how member states respond to the British PMs decision to pull the plug on tomorrows vote will be key. Some may well seize on the opportunity to rattle the Pound and the Brits in an attempt to safeguard EU sovereignty. Expect the opposition parties to amass united to attempt a vote of no confidence and assume that there will be some rhetoric from Brussels. Its a big call to think that there is a better deal
Story continues Shooting the messenger will be Jeremy Corbyns mandate for now, but it could end in tears for the Labour Party leader should he pursue this near term attack. Few if any were capable of delivering a deal and it could go the other way if the EU empathises with Theresa May and opens dialogue for a better deal. Lets face it, the UK economy is not a small one and the EU needs all the support it can get right now
Unsurprisingly, the Pound hit more than a speed bump, sliding to as low as $1.2507 before steadying, the margin calls on the way down an exasperation of a trading environment not too dissimilar to the EU Referendum itself where many believed the vote would be to stay. At the time of writing, Cable was down 1.25% to $1.2570. This article was originally posted on FX Empire More From FXEMPIRE: Bitcoin And Ethereum Daily Price Forecast BTC & ETH Lose Weekends Positive Price Action Brexit May Pulls the Plug on a Disaster Waiting to Happen
China Down On Weak Trade, EU Market Down On Growth Fears, US Market Down On Global Weakness AUD/USD and NZD/USD Fundamental Daily Forecast Uncertainty Over US-China Relations Keeping Lid on Rallies GBP/USD Price Forecast British pound dumps again Gold Price Forecast Gold markets continue to hang above barrier || Silver Price Forecast – Silver markets continue to chop: Silver marketshave been choppy and sideways overall, with the $14 level underneath being supportive, and the $15 level above being resistance. At this point, I think it’s very likely that the Silver markets will continue to be very choppy and volatile, but I think if we can break out of this range, it could give us a reasonable target. The one dollar range that we are in signifies where we could go, on a breakout or a break down. The $16 level above will be a target if we break out to the upside, just as a break down below the $14 level will send this market to the $13 level, possibly looking for support at $12.
Overall, I think that the market participants will continue to be attracted to this as a barometer for where the US dollar is going, or perhaps where it isn’t. Remember, a strengthening US dollar typically works against the value of silver, while a softening US dollar typically will help it rally. I believe at this point, we are going to see more choppiness and sideways action than anything else, so I’m not looking for anything major and I recognize that we will probably continue to be very noisy overall. However, I think that longer-term investors may be looking at this as an opportunity to pick up a bit of value.
Thisarticlewas originally posted on FX Empire
• Bitcoin And Ethereum Daily Price Forecast – BTC & ETH Lose Weekend’s Positive Price Action
• USD/JPY Price Forecast – US dollar rallies to kick off week
• Silver Price Forecast – Silver markets continue to chop
• Brexit – May Pulls the Plug on a Disaster Waiting to Happen…
• AUD/USD Price Forecast – Aussie dollar gaps lower
• China Down On Weak Trade, EU Market Down On Growth Fears, US Market Down On Global Weakness || Silver Price Forecast Silver markets continue to chop: Silver markets have been choppy and sideways overall, with the $14 level underneath being supportive, and the $15 level above being resistance. At this point, I think its very likely that the Silver markets will continue to be very choppy and volatile, but I think if we can break out of this range, it could give us a reasonable target. The one dollar range that we are in signifies where we could go, on a breakout or a break down. The $16 level above will be a target if we break out to the upside, just as a break down below the $14 level will send this market to the $13 level, possibly looking for support at $12. SILVER Video 11.12.18 Overall, I think that the market participants will continue to be attracted to this as a barometer for where the US dollar is going, or perhaps where it isnt. Remember, a strengthening US dollar typically works against the value of silver, while a softening US dollar typically will help it rally. I believe at this point, we are going to see more choppiness and sideways action than anything else, so Im not looking for anything major and I recognize that we will probably continue to be very noisy overall. However, I think that longer-term investors may be looking at this as an opportunity to pick up a bit of value. This article was originally posted on FX Empire More From FXEMPIRE: Bitcoin And Ethereum Daily Price Forecast BTC & ETH Lose Weekends Positive Price Action USD/JPY Price Forecast US dollar rallies to kick off week Silver Price Forecast Silver markets continue to chop Brexit May Pulls the Plug on a Disaster Waiting to Happen
AUD/USD Price Forecast Aussie dollar gaps lower China Down On Weak Trade, EU Market Down On Growth Fears, US Market Down On Global Weakness
[Social Media Buzz]
24H
2018/12/12 01:00 (2018/12/11 00:59)
LONG : 28920.09 BTC (+2026.75 BTC)
SHORT : 38168.96 BTC (+2032.98 BTC)
LS比 : 43% vs 56% (42% vs 57%) || Total Market Cap: $107,986,411,794
1 BTC: $3,415.62
BTC Dominance: 55.08%
Update Time: 11-12-2018 - 17:00:11 (GMT+3) || MVL will be listed on Huobi Korea / BTC and ETH market at 16:00, December 12th(GMT+9).
Huobi Korea Announcement》 https://www.huobi.co.kr/en-US/notice
MVL Blog》 https://www.mvlchain.io/blog
MVL team is in talks with several ot...
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3486.95, 3313.68, 3242.48, 3236.76, 3252.84, 3545.86, 3696.06, 3745.95, 4134.44, 3896.54
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Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 5526.64, 5750.80, 5904.83, 5780.90, 5753.09, 6153.85, 6130.53, 6468.40, 6767.31, 7078.50, 7207.76, 7379.95, 7407.41, 7022.76, 7144.38, 7459.69, 7143.58, 6618.14, 6357.60, 5950.07, 6559.49, 6635.75, 7315.54, 7871.69, 7708.99, 7790.15, 8036.49, 8200.64, 8071.26, 8253.55, 8038.77, 8253.69, 8790.92, 9330.55, 9818.35, 10058.80, 9888.61, 10233.60, 10975.60, 11074.60, 11323.20, 11657.20, 11916.70, 14291.50, 17899.70, 16569.40, 15178.20, 15455.40, 16936.80, 17415.40, 16408.20, 16564.00, 17706.90, 19497.40, 19140.80, 19114.20, 17776.70, 16624.60, 15802.90, 13831.80, 14699.20, 13925.80, 14026.60, 16099.80, 15838.50, 14606.50, 14656.20, 12952.20, 14156.40, 13657.20, 14982.10, 15201.00, 15599.20, 17429.50, 17527.00, 16477.60, 15170.10, 14595.40, 14973.30, 13405.80, 13980.60, 14360.20, 13772.00, 13819.80, 11490.50, 11188.60, 11474.90, 11607.40, 12899.20, 11600.10.
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[Bitcoin Technical Analysis for 2018-01-21]
Volume: 9935179776, RSI (14-day): 40.37, 50-day EMA: 13409.94, 200-day EMA: 8724.86
[Wider Market Context]
None available.
[Recent News (last 7 days)]
Bank of America (BAC) Q4 2017 Earnings Conference Call Transcript: Image source: The Motley Fool.
Bank of America(NYSE: BAC)Q4 2017 Earnings Conference CallJan. 17, 20188:30 a.m. ET
• Prepared Remarks
• Questions and Answers
• Call Participants
Operator
Good day, ladies and gentlemen, and welcome to the Bank of America Fourth-Quarter 2017 Earnings Announcement. Currently, all phone lines are in a listen-only mode. Later there'll be an opportunity to ask questions during the question-and-answer session. You may register to ask a question at any time by pressing the *, then 1 on your touchtone phone.
Please be advised today's program may be recorded. It is now my pleasure to turn the program over to Mr. Lee McEntire. You may begin, sir.
Lee McEntire-- Senior Vice President of Investor Relations
Good morning. Thanks to everyone for joining this morning's call to review our 4Q '17 results. Hopefully, everyone's had a chance to review the earnings release documents on the Investor Relations section of ourbankofamerica.com website. I'll just remind you we may make some forward-looking statements in the discussion today.
For further information on those, please refer to either our earnings release documents, our website, or our SEC filings. Brian Moynihan, our chairman and CEO, will make some opening comments. Paul Donofrio, our CFO, will review the 4Q results. And then we'll turn it back over to Brian for just a few thoughts from the company as we head into 2018 before we open up for questions.Brian, take it away.
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Brian Moynihan-- Chairman and Chief Executive Officer
Surely. Thank you and thanks, everyone, for joining us today. Good morning. This was another strong quarter and year for our company across the board.
We drove positive operating leverage consistently through the year. In fact, this is the 12th straight quarter where we have reported a positive operating leverage on a year-over-year basis. You can see that on Slide 3. And we did it the right way.
We achieved it through fundamental operating excellence, driving revenue, and controlling expenses, combined with strong relationship in sales and production. Full-year revenue was up 5%, excluding the tax act impact, while expenses declined 1%. Our business generated 6% loan growth for the year. We grew and remained true to our responsible growth operating model where there's a clear recognition throughout the company of who our targeted customers are and how we manage risk and our desired outcomes.
So, let me highlight a little our progress.For the year we reported $18 billion in after-tax net income. Excluding the tax act impact of $2.9 billion, we would have reported net income of $21 billion which is up 18% over [Inaudible] 2016. This represents the highest earnings run rate for the company in its history. Paul will discuss the tax act impact in a little more detail later.
Our company remains balanced, with earnings coming relatively evenly from our consumer and our commercial institutional segment businesses. On a more businesses for people, our consumer businesses and our wealth-management businesses, together they earned more than $11 billion and grew 14% while our global banking and global markets business together generated about $10 billion, and they're up 7%. Excluding the tax act impact, our return on tangible common equity was 11% and our return on assets was 93 basis points, pushing closer to our long-term target. Across the board in our businesses, our brand improved in every area recognized by many outside parties.
And through our higher stock price and improved credit ratings, we saw tangible benefits of our progress. Shareholders not only saw share price improvement but we increased our dividend by 60% and reduced our fully diluted share count during the year by 3.4%. Average diluted shares were down 370 million from this time last year and down nearly 1 billion from the peak. With an approved CCAR plus our additional 5 billion, we'll continue to make progress in this area.At the core of our model is a talented group of teammates, our best assets.
Therefore, we continue to invest heavily in making our company the best place for our teammates to work. Not only do we continue to rank high in overall list of best companies to work for, we rank in the top 50 list of the best workplaces for diversity, for parents, for working mothers, and Hispanics, among others. You can see some of these accolades in a couple of the appendix slides we've added to the package this time. This year we also invested heavily in our teammates' [Inaudible] improvements and starting minimum wages, where we put them at $15 this time last year.
We introduced sabbaticals, family leave increases, bereavement leave policy extensions, and wellness initiatives. This latest example is our announcement at the year-end we were able to provide nearly 70% of our teammates with a bonus to share in our future success of the expected benefits of the tax savings. As Paul will explain, this added $145 million in expenses in the fourth quarter. We did all this while investing to continue to lower cost me so we can make more money in our franchise.
We also lowered costs while we continued our investment in digital capabilities for security protection for our customers, which drove our online and mobile banking leadership rankings. We also rolled out digital shopping capabilities in auto and in home. We are also heavily investing in capabilities for our investment clients across the wealth-management spectrum through our award-winning digital brokerage capabilities as well as our treasury capabilities for our commercial clients. Our consumer mobile banking app became the first app in the Apple App Store to be certified by JD Power.
We know there's much more to do to continue to drive this positive change in our company and for the benefit of our customers and clients. So we as a team are proud of the outcome today for sure, but even more proud that we're proving that we can win and do it the right way to drive responsible growth, and we plan to do that in the future.With that, let me turn over to Paul to give you comments on the quarter.
Paul Donofrio-- Chief Financial Officer
Thank you, Brian. I want to go back to Slide 2 to start. We reported net income up $2.4 billion, or $0.20 per diluted share, in Q4. Late in the quarter, we informed investors through our 8K filing that we expect an impact of approximately $3 billion from the tax act.
Our estimated impact came in just shy of $2.9, lowering EPS by $0.27. Remember, the tax act is complex, with several novel provisions. Any clarifying guidance or new information could affect our estimated impact and, as noted in our materials, the impact was recorded in two places. First, in other income, there was a charge of approximately $950 million to revalue certain renewable-energy investments.
With the new income tax line, this pre-tax charge was offset by the tax benefit of this $950 million charge plus the revalue of certain deferred-tax liabilities associated with these renewable-energy investments. In total, the tax line includes $1.9 billion aggregated expense, with a multiple impact of the tax act including the tax benefit of the charge for new energy investments that I just mentioned as well as the revaluation of our deferred-tax assets and deferred-tax liabilities. In our material, we provided a chart reflecting results on a basis that excludes the tax act impact. We believe this provides a more clear comparison to Q4 '16.
On that basis, net income was $5.3 billion with EPS of $0.47 per share, growing 20% year over year. Return on tangible common equity was 11%. Return on assets was 90 basis points. Operating leverage year over year was a strong 8%.
Revenue was $21 billion, improving 7%. An 11% improvement in net-interest income drove revenue growth. Expenses declined 1%, which included roughly $200 million with the shared success bonuses in late December that Brian mentioned plus an acceleration of planned charitable contributions in late December as we looked to share some of the future tax savings with our teams and the communities we serve.Provision expense was $1 billion, up $227 million, driven by a $333-million impact from the charge-off and reserve bill for a single commercial exposure. Negative news reports on that company caused significant market concerns, which affected the credit spreads and stock price of this formally investment-grade credit.
Despite downgrades of this credit, both non-performing loans and criticized commercial exposures declined from Q3 and, excluding this specific loss, net charge-off remains very low turning. Turning to the balance sheet on Slide 4. Overall compared to September 30, end-of-period assets of $2.3 trillion were mostly unchanged. Loans grew $10 billion but were offset by a $14 billion decrease in cash.
On the funding side, strong deposit growth from Q3 of $25 billion was offset by reductions in market funding and lower equity. Debt levels were stable with prior period. however, we did complete an $11 billion debt exchange offer in the quarter, which extended maturities and improved the structure of this debt from a [Inaudible] perspective. Liquidity remained strong, with average global liquidity sources of $522 billion, and we ended the quarter with a liquidity coverage ratio of 125%.
Equity decreased $4.8 billion from Q3. This quarter, through both the purchase of common shares and common dividends, we returned more than $6.1 billion to shareholders. That was $4 billion more than the $2.1 billion in income available to common, which included the $2.9-billion tax act charge. The remaining decline in equity was mostly a result of the decline in OCI as increases in long-end rates decreased the value of our debt securities portfolio.
We purchased 174 million shares in Q4 and have repurchased 509 million shares in the past 12 months. Remember, this quarter we received approval for $5 billion in share repurchases in addition to our previously announced $12.9 billion following CCAR. Tangible book value per share of $16.96 was modestly above Q4 '16, as earnings over the year including the tax act impact offset share repurchases and dividends, as well as the conversion of Berkshire preferred stock to common shares. Turning to regulatory metrics and focusing on the fully phased-in impacts, our CET1 ratio declined this quarter.
The primary cause of the decline was a return of capital to shareholders in excess of earnings, which obviously included the tax act impact. Focusing on risk-weighted assets and starting with the advanced approach, RWA was flat from Q3 at $1.46 trillion as DTA reductions and the run-off of legacy loans with high risk weights offset general loan growth. Under the standardized approach where risk sensitivity is less, funded and unfunded loan growth across the businesses drove a $22 billion increase in RWA. The CET1 ratio under advanced declined 34 basis points to 11.5%, under standardized, the ratio declined 53 basis points to 11.7%.
Both ratios remain well above our 9.5 requirement and supplemental leverage ratios continue to exceed U.S. regulatory minimums. Turning to Slide 5. On an average basis, total loans increased to $928 billion.
Note that the Q2 sale of UK Card, which was recorded in all other impacted the year-over-year comparisons of average loans by $9 billion. In Q4, we also sold our remaining student loan and manufactured-housing loans, totaling approximately $800 million. Adjusting for these sales, average loans were up $29 billion, or 3% year over year. Loan growth continued to be dampened by the run-off of non-core consumer real-estate loans in all other.
Year-over-year loans in all other were down $29 billion, inclusive of the loan sales. On the other hand, loans in our business segments were up $49 billion, or 6%. Consumer banking led with a 9% increase, with solid growth across mortgage, credit card, and vehicle loans. Wealth management's strong growth of 7% was driven by mortgages and structured lending.
Origination of new home equity loans continued to be outpaced by pay-downs. Growth in global banking loans and leases remained solid, up 4% year over year. Switching to average deposits and looking at the bottom right, the growth was $43 billion or nearly 3.5% year over year. This growth was driven by consumer banking, which increased by $48 billion, or nearly 8% year over year.
Average deposits declined year over year on wealth-management as clients moved cash to other alternatives within brokerage or AUM. This decline was mostly offset by solid growth in global banking.Turning to asset quality on Slide 6. Total net charge-offs were $1.2 billion, or 50 basis points of average loans. As mentioned, the quarter was impacted by the one large single commercial charge-off.
Excluding the single loss, net charge-offs and the net charge-off ratio were consistent with Q3. Also, due largely to this commercial loss, provision of $1 billion was up $167 million Q3 '17 and $227 million dollars in Q4 '16. Provision expense included a $236 million net reserve release. The net reserve release reflects continued improvement in our legacy consumer, real-estate, and energy portfolio.
Our reserve coverage remains strong with allowance of loan coverage ratio of 112 basis points and a coverage level 2.6 times our full-year net charge-offs.On Slide 7, we break out credit quality metrics for both consumer and commercial portfolios. With respect to consumer, net charge-offs of $769 million were up $38 million in Q3. The modest uptick in net losses is negatively impacted by the absence of some prior-period recoveries, the Q3 '17 storm-related payment deferrals, and seasonality. The consumer credit card net charge-off ratio increased to 2.78% as the portfolio continues its expected seasoning.
Consumer MPL of $5.2 billion declined from Q3 and are at the lowest they've been since Q2 '08 and 45% of our consumer MPLs are current on their payments. Commercial losses, excluding the one large credit already discussed, were stable. Reservable criticized utliized exposure was down more than $1 billion from Q3.Turning to Slide 8, net-interest income on a GAAP non-FTE basis was $11.5 billion, $11.7 billion on an FTE basis. Compared to Q4 '16, GAAP NII is up $1.2 billion, or more than 11%, driven by the spread improvement in our asset yields and funding cost.
Partially offsetting the spread improvement is the lack of interest income associated with the UK Card portfolio, which was sold in Q2 '17. The increase year over year was also driven by growth in loans and [Inaudible] securities as well as lower prepayments and therefore lower bond premium write-offs. Focusing on the net-interest yield, it improved 16 basis points from Q4 '16, to 2.39%. Compared to Q3 '17, NII increased $300 million, driven by loans, securities, and asset growth in global markets, as well as a run-up of short-end rates in anticipation of the Fed [Inaudible].
With respect to deposit pricing, we raised rates modestly on selected wealth-management products as well as for certain commercial clients. Consumer rates paid remained stable. NII on a full-year basis grew $3.6 billion, or 9%, to 44.7 billion. In 2018 we expect solid NII growth driven by loan and deposit growth and some net-interest-yield expansion, assuming the forward curve plays out as currently expected.
But I would remind you that 2017 included approximately a half a billion dollars of interest from the UK Card business that we sold. This will be a significant offset to NII growth in 2018. In 2018, we also don't expect the same full-year benefit from the reduced premium amortization experienced in 2017, given the increase in rates that borrowers have already experienced. More short term, as you think about NII in Q1 '18, we expect to benefit from the December rate hike.
Having said that, remember, there will be two less days in Q1 than Q4. That should reduce NII by approximately $175 million. Also, NII from loan growth in Q1 is normally muted by seasonal declines in card loans. One other item worth noting as you think about Q1, the tax act will lower NII on an FTE basis because the NII gross-up will be lower.
However, remember, NII gross-up on an FTE basis is completely offset by higher tax expense, resulting in no change in earnings. Still, on an FTE basis, NII is expected to decrease by approximately $120 million each quarter. On a GAAP basis, again, NII is not impacted. With respect to asset sensitivity as of 12/31, an instantaneous 100-basis-point parallel increase in rates is estimate to increase NII by $3.3 billion over the subsequent 12 months.
This is largely unchanged from September 30 and approximately two-thirds driven by our sensitivity to short-term rates.Turning to Slide 9, we had another solid quarter of expense management. Note this quarter includes an accounting change for the retirement-eligible incentives. Previously this expense, which was historically just over $1 billion, was recorded in Q1 when awards were granted. We will now account for an estimate of the next year's grant ratably over current year's four quarters.
Prior periods and this quarter's supplemental materials have been restated for this change. Non-interest expense of $13.3 billion was down $140 million, or 1%, from Q4 '16. Note that this amount includes two actions which totaled approximately $200 million that I mentioned earlier to share [Inaudible] tax savings with lower-paid employees and the communities we serve. Excluding these discretionary actions, expenses were down 2%.
In addition to cost savings associated with the sale of our UK card business, year-over-year improvements and non-interest expense were broadly distributed across expense categories as we continue to focus on [Inaudible], understanding and improving our work processes, and optimizing the company's consumer delivery network. We expect these benefits over the medium term to drive efficiencies that will help us offset inflationary costs and potentially increases in investment. Compared to Q3 '17, expenses declined by $120 million despite the late-quarter discretionary spend. Decline was driven by lower mortgage servicing costs and lower revenue-related incentives in our global markets business.
Excluding the tax act's impacts on revenue, our efficiency ratio of 62% was above our target, reflecting the typical seasonal weakness in our sales and trading business. OK, turning to the business segments and starting with consumer banking on Slide 10, Q4 caps a tremendous year for this business. On a full-year basis earnings were $8.2 billion, growing 14% over 2016, with operating leverage driving the efficiency ratio to 50% by the end of the year. Focusing on our Q4 results, earnings at $2.2 billion grew 14% year over year and returned 24% on allocated capital.
Year over year, this business created over 600 basis points of operating leverage, as revenue growth of 10% outpaced expense growth of 4%, Higher interest rates and growth in client balances drove the year-over-year improvement in revenue. Year-over-year average loans grew 9%, average deposits grew 8%, and Merrill Edge brokerage assets grew 22%. Cost of deposits, which reflects non-interest expenses as a percent of average deposits increased modestly because of the year-end discretionary actions mentioned earlier, the share of future tax savings with lower-paid employees and the communities we serve. Net charge-offs increased $107 million from Q4 '16 as we continue to experience modest and expected seasoning of our credit card portfolio and loan growth.
Provisional expense increased to $126 million in Q4 '16 and that charge-off ratio remains low at 1.21%.Turning to Slide 11 and looking at key trends, as I mentioned earlier, revenue increased 10% year over year. Within the revenue, mortgage banking income was the only major category that was lower year over year, driven by volume decline. In Q4 we retained about 90% of our first mortgage production on balance sheet. Looking at revenue more broadly, we believe our relationship-deepening [Inaudible] award program is improving NII and growth of balances and allowing cost savings.
These benefits are more than offsetting headwinds in the non-interest income line that our industry is facing. Spending levels on debit and credit cards were up 7% year over year and we issued 1.1 million new credit cards in the quarter, in line with last year. Spending levels and a one-time partner rebate drove a 5% revenue increase in card income, which continues to be impacted by strong competition on the rewards front. Service charges were up a more modest 1% and in 4Q we modestly revised our overdraft policy by eliminating certain fees.
This revision reduced overall fees but has benefits in that it will improve customer satisfaction while helping to lower servicing cost. By the way, customer satisfaction in consumer banking reached an historic high, with roughly 80% of our clients rating us 9 or 10 on a 10-point scale. Focusing on client balances on the bottom of the page, you can see the success we've continued to have growing deposits, loans, and brokerage assets. We remained focused on prime and super-prime borrowers with average booked FICO scores of at least 760.
Expenses were up 4% compared to Q4 '16, as the year-end special bonus impacted this business more heavily than others. Otherwise, investments in renovating branches and technology initiatives modestly outpaced continued optimization and saving from digitalization. To give you a sense of the type and level of continued investment in our financial centers, let me highlight a few facts. During 2017 we opened 30 new financial centers, with 25 of these in no-go areas not previously served by our retail network but in areas where we have existing wealth-management and/or commercial banking presence.
We also opened 41 student centers and 69 lending centers and branded 585 Merrill Lynch officers. We also renovated nearly 300 financial centers and replaced more than 3,400 ATMs.Turning to Slide 12 and focusing on the continuing improvement in digital banking trends, as you can see, the year-over-year growth in these metrics continues to be impressive. We remain the leader in digital banking. We now have nearly 35 million digital users, including 24 million accessing their accounts through mobile devices.
We processed payments for customers valued at $669 billion in Q4. Annualized, that equates to over $2.5 trillion per yea. And note the 10% growth of digital payments relative to non-digital at 1% as customers continue to migrate from cash and check, helping us improve efficiency and reduce risks. In particular, note P2P payments increasing.
They doubled from Q4 '16 as the adoption of Zelle makes it easier to send, request, and even split person-to-person money transfer. Also note on the bottom left the growth in mobile channel users, with 1.3 billion log-ins. Also noteworthy is the volume of mobile deposit transactions which now represents 23% of all deposit transactions and while still small, half of all our retail direct auto loan applications are originated digitally following the recent rollout of our digital auto shopping capabilities last quarter. These digital trends and the investment behind them, plus the continued investment in our financial centers that I earlier listed, must be thought of together as you evaluate and we execute on our high-tech, high-touch customer strategy.Turning to global wealth management on Slide 13, [Inaudible] earnings $742 million, up 17% from Q4 '16, a pre-tax margin of 26% and a return on allocated capital of 21%.
Market appreciation and client flows were once again a tailwind for asset-management fees, offsetting modest spread compression. At the same time, brokerage revenue continued to face headwinds as volumes declined and mix shifted. All in, revenue grew 7% year over year, with strong NII improvement and 16% growth in asset-management fees partially offset by lower brokerage revenues. This activity, coupled with careful expense management, drove 4% operating leverage.
This quarter we saw AUM flows of $18 billion, bringing flows for the year to nearly $100 billion. Year-over-year expenses were up 3%, driven by revenue-related incentives as well as investments in both primary sales professionals and technology. Over to Slide 14. We [Inaudible] solid, overall client engagement.
Client balances rose to $2.75 trillion, driven by higher market values, solid AUM flows, and continued loan growth. As we noted during reviews of previous quarters, clients started to more appreciably move deposits into cash investment alternatives within AUM and brokerage starting early in the year. In the second half of the year, trends improved after we increased rate paid on certain products. Average loans of $157 billion grew 7% year over year, continuing a trend of clients deepening their relationship with us.
Loan growth remained concentrated in consumer real estate as well as structured lending. Turning to Slide 15, global banking earned $1.7 billion, increasing 6% from Q4 '16. Return on allocated capital was 17% and stable with last year despite an increase in allocated capital. I want to talk about full-year results for a moment to highlight the success of this business in 2017.
On a full-year basis, global banking set several records, including revenue of $20 billion and net income of $7 billion. Full-year earnings were up 21% on strong operating leverage. Revenue grew 8% while expenses were up only 1% as the business reduced overhead to offset increases in investments. And we added more than 400 new bankers over the past two years as we continue to deepen and expand local coverage and commercial and business banking.
Returning to Q4 year-over-year comparisons, revenue growth of 10% was driven by improved NII, reflecting solid loan and deposit growth compounded by rising short-term interest rates. We also grew IB fees 16% year over year. Growth was led by advisory fees but debt and equity fees were also up year over year. The efficiency ratio improved 200 basis points to 42%.
Provision expense of $132 million increased from Q4 '16 as a result of the commercial charge-off mentioned earlier. Half of the loss was recorded in global banking and half in global markets. Provision expense also included some release of reserves on our energy portfolio, which continued to improve. Growth of loans in global banking remained fairly consistent, with past several quarters increasing 4% year over year.
the outlook for loan growth given tax reform remains to be seen, but optimism among our clients is high. However, we also expect some of our clients to use repatriated funds and tax savings to pay down borrowings and other obligations. Looking at trends on Slide 16 and comparing to Q4 last year, with respect to average loans, growth of 4% was led by corporate borrowers evenly balanced between domestic and international clients. Within commercial lending, C&I rose 5% while commercial real estate was flat.
In global banking, loans growth was down 1 basis point compared to Q3 '17, continuing the trend we've seen all year which modestly compressed spreads year over year by mid-single digits. Average deposits rose $14 billion, or 5%, compared to Q4 2016 with most of the increase concentrated in the second half of the year, reflecting increases in rates paid in Q3 and Q4. As interest rates rise, the value of these deposits and the relationships they represent is best seen in global transaction revenue, which is up 10% year over year to nearly $2 billion. Total investment banking fees $1.4 billion finished the year strong growing 16% versus Q4 '16.
Advisory fees hit a new record. For full-year 2017, we remained ranked No. 3 in overall investment banking fees with fees totaling $6 billion, up 15% from 2016.OK, switching to global markets on Slide 17. I'll review results excluding DVA.
Global markets generated revenue of $3.5 billion and earned half a billion dollars. Year-over-year earnings were down by $238 million, driven by lower sales and trading results, higher technology investment spending, and provision. Revenue is down 2% year over year as a decline in sales and trading revenue was partially offset by a gain on the sale of a non-core asset recorded in other income. Sales and trading revenue held up better from the middle of the quarter-end through the end of the year than it did in the prior year.
Trading of $2.7 billion declined 9% from Q4 '16. FICC sales and trading of $1.7 billion decreased 13% [Inaudible] the decrease was driven by less favorable market conditions across macro products [Inaudible]. Equity sales and trading, at just shy of $1 billion, was stable year over year as growth in client financing activity offset declines in cash and derivatives-trading given lower levels of volatility and client activity. With respect to expenses, Q4 '17 was 5% higher than Q4 '16 as lower revenue-related incentive costs were more than offset by continued investments in technology.
Moving to trends on Slide 18 and looking at trends across the last three years, we would highlight the following. First, starting in the lower left box, full years of trading revenue has been fairly consistent over the last three years at $13 billion to $13.6 billion and note that we have achieved this stability while reducing our [Inaudible] RWA. Now, [Inaudible] over the last three years and that change was reflected in client activity and volatility that varied greatly from both a product and regional perspective over the last three years. Still, we were able to produce relatively consistent revenue on reduced risk over this time period.
We believe this consistency shows that clients value the diversity and comprehensiveness of our global markets capabilities, including sales and trading as well as research in every major market across the globe. On Slide 19 we show all other, which reported a loss of $2.7 billion. A few things to note this quarter: The $2.9 billion impact from the tax act was recorded here. So, excluding that charge, all other would have produced a profit of a little over $200 million.
Unrelated to the tax act, all other results also include [Inaudible]. Revenues compared to Q4 '16 [Inaudible] were down a little more than $130 million year over year. Remember when comparing year over year, Q4 '16 included expenses and charge-offs for the UK Card portfolio sold in 2017. The tax rate this quarter was impacted by the negative impacts of the tax act as well as the benefit of the unrelated subsidiary restructuring.
With respect to tax rate in 2018, prior to tax reform, we expected our GAAP tax rate for 2018 to be around 29% before unusual items. Now we expect the GAAP tax rate to be approximately 20% absent unusual items. And remember when thinking about the tax rate on an FTE basis, the difference between GAAP and FTE has now narrowed from 2 basis points to 1 basis point. This reflects a preliminary analysis of the non-deductibility of FDIC premiums, the global mix of our profits, and other tax reform provisions.OK, let me turn it back to Brian for a couple of closing comments before we open it up for Q&A.
Brian Moynihan-- Chairman and Chief Executive Officer
Thanks, Paul. As we wrap up, we thought it would be useful to hit a couple of questions from the top that Paul and I've been fielding as tax reform becomes more of a reality. The first question we get often is, how do our clients and how do we feel about the tax reform and the client activity. It's clear from what our clients tell us that tax reform will be a positive for our clients and customers in the United States.
There are two key elements from the standpoint of corporate America tax reform: first, the lower competitive tax rate, and second, a territorial system, and both of these were accomplished in the tax reform. This coupled with the continued regulatory-reform agenda to balance regulation, are well-received by businesses, and this increased confidence will ultimately make it, and undoubtedly make it into the business plan. As one of the largest banks in the United States, we will benefit with that as our customers grow and invest. That being said, those customers just as we at Bank of America will look and our peers in our industry are carefully evaluating alternatives to reinvest some portion of those savings to drive further business activity to help grow our company and achieve even more competitiveness.
The second question I gets is, does our focus change and will we run the company differently given a lower tax rate and the [Inaudible] is no. We're going to remain focused on driving responsible growth, continually trying to connect better with our customers, striving to make it easier for those customers do business with us, and for our employees do business inside the company. We'll continue to drive operational excellence, lowering operational expenses as we've done for many quarters in a row, and improving our competitiveness as we develop and invest in new products and services. We will also continue to drive our share-return model and we expect the largest portion of benefits in tax reform to be delivered to you, our shareholders.
In the end, whether through increased investments, capital distributions, or supporting our clients, all this will benefit the economy and shareholders and drive our activities consistent with responsible growth. The third question is, do we think that the impact of tax reform will affect loan growth. Near term it'll be tougher to judge as people repatriate money or receive more after-tax cash flow. The question is, will they pay it on loans, and perhaps they will.
However, over the medium to long term, having more after-tax cash flow can't but be good for business and we will benefit by greater loan growth as those businesses invest those proceeds. We believe the real test for our loan growth will be more the general economy and how it's growing and less about the tax rate.Another question we often get is, does the tax reform change our commitment to a $53 billion goal for 2018. I started out by pointing out that if you look at our expenses in the fourth quarter, we effective reached a run-rate expense in the $53 billion range. We reported for $13.3 billion in the quarter, if you back out the $200 million in additional bonuses and the accelerated charitable contribution, that leaves us just about $13.1 billion.
You multiply that times four and that's $52.25 or so billion. If you add $400 million in the FICA-related tax to come in the first quarter and throw in on top of that a couple of hundred million dollars of potential incentives due to the fourth quarter being a lower trading quarter, you get to around a $53 billion run rate. So, effectively we've reached our goal. In the second quarter of 2016 when we first announced this goal, I want to remind you that the expenses that we were trailing at that time were $56 billion.
It was in our business plan to hit $53 billion in 2018 and it still is. But as we look forward, we have no doubt, as I said earlier, that businesses including our company will have to look at taking advantages of some of the tax savings to invest to improve their business [Inaudible] faster than they would have done before the tax-reform act. So we continue to evaluate options for longer-term value creation along the dimensions of investments we've been making in branches, in technology and people. We'll continue to assess as we move through the year, however, to be clear we'd expect most of the benefits from tax reform'll flow to the bottom line through dividends and share buybacks over time.
In addition, the investments we make will drive operational excellence and efficiency that will continue to play to our benefit over time.The next question I get is around capital return expectations: Will they change given the tax reform. The simple answer to that question is yes. In 2017 we reported net income available to common shareholders as $16.6 billion and returned $16.8 billion back through share repurchase and dividends. We don't need to make any acquisitions in the company, in fact in the United States, deposit acquisition's not legal.
So all growth will have to be organic and will continue to be so. We believe we have sufficient capital to absorb our risks as we grow and in fact we have excess capital. We have the capital to also support our customers' demand for financing and we always want to use that capital first to help customers grow. So, yes, we will expect to return more capital to shareholders given the tax act.That brings us to the last question I often hear from investors: How are you performing against your return targets and do they need to increase with the tax savings implied in tax reform act going forward that Paul spoke about? This year, excluding the impact of the tax act, our return on tangible common equity was 11% and return on assets of 93 basis points.
They're just shy of the 12% and 1% targets that we laid out a few years ago. Going forward, the benefits from tax reform will easily mathematically accelerate those and we'll reach those targets. The potential lift in returns can be seen by just adding the benefits of the lower tax rate. Assuming 100% of the benefits go to the bottom line, this would equate to something north of 150 basis points of increased return on tangible common equity and more than 10 basis points of increased return on average assets.
But keep in mind, we've always been clear that the long-term targets were just a step to keep marking our continued path to driving this company's operating performance. CSR targets will be obtained but that doesn't lower our desire to drive responsible growth to continue to improve the company and continue to improve the returns and return the capital to you and we will continue to do that.So, wrapping up, we will stay focused on responsible growth in 2018. That's what got us here and what will get us here going forward. We will control the things we can do and drive operating leverage through the company.
And with that, let me open up for Q&A.
Operator
At this time, ladies and gentlemen, if you would like to ask a question, please press *, then 1 on your touchtone phone. You may withdraw your question at any time by pressing the # key. Once again, it's *, then 1 to ask a question. And we can take our first question from Betsy Graseck with Morgan Stanley.
Your line is now open.
Betsy Graseck-- Morgan Stanley -- Analyst
Good morning. Brian, I just wanted to follow up on one of the comments you made around the expenses. As you indicated in the prepared remarks, the expense improvement has been fantastic, in particular in the consumer business where operating leverage has been very strong over the last two years. I wanted to understand from your prepared remarks, you were saying that $53 billion, you've already met it and you'll retain it for the full year or may change your outlook based on how the customer demand evolves with the tax plan and within that, just wondering if you're expecting that you'll be able to generate more operating leverage, in particular in the consumer space given the groundwork you've laid in digital payments and the branch network.
Good morning. Brian, I just wanted to follow up on one of the comments you made around the expenses. As you indicated in the prepared remarks, the expense improvement has been fantastic, in particular in the consumer business where operating leverage has been very strong over the last two years. I wanted to understand from your prepared remarks, you were saying that $53 billion, you've already met it and you'll retain it for the full year or may change your outlook based on how the customer demand evolves with the tax plan and within that, just wondering if you're expecting that you'll be able to generate more operating leverage, in particular in the consumer space given the groundwork you've laid in digital payments and the branch network.
Brian Moynihan-- Chairman and Chief Executive Officer
Sure. I think what we're saying is that, just start from the base principle, the vast majority of any increased after-tax cash flow would go to the shareholders. The question that we have to look at, Betsy, as you referenced is, is there an amount of investment that we have to make to accelerate some of the things we're doing, especially around consumer business but across all the business, accelerate -- the branch buildout in some of the cities has proved to be very successful. [Inaudible] we would do over five years, do you wanna speed it up a little bit? Or do we invest a little bit more in technology, especially to make the next major move in the markets businesses, which Tom and the team are driving at, to get, even with stable revenues, to start to drive the profit back up again, or in the treasury services business? So, the debate is, is there some amount you'd invest to help accelerate growth but it would be along the dimensions that we've been doing, and it would just improve our ability to get them done and speed it up.
It would be modest, I think, is the best way to say it.
Betsy Graseck-- Morgan Stanley -- Analyst
OK and then on the consumer business, the operating leverage has obviously been extraordinary in the last two years. Is there more to come this year?
Brian Moynihan-- Chairman and Chief Executive Officer
Yea. We want to focus all of you across all the business operating leverage and they've shown good progress, the company as a whole, and each of the businesses. In consumer [Inaudible] continue to get operating leverage. They've done a great job.
You see the branches are down 100 and some year over year. The digital transactions continue to go up, but there's a lot of room to go still, even though we think we've made great progress in digital, and we have, only 22% of the deposits are made digitally and about 30% are made over the counter at the branches. So as we continue to get customers to adopt these new and exciting technologies, we'll see more operating leverage but the team's done a great job there and I think they'll continue to improve it. Likewise, you're going to see some of the transformation we're doing in the wealth-management business continue to grow and Terry and Andy and Katy and the team are doing a great job.
That business has grown but we need to start to drive some of the digitization techniques that we used in other business, including commercial business, into that business which you'll see, and that will help the operating leverage there. And in the commercial business, it's very efficient. So, it's very hard-fought to get much expense but even then they still have done a good job of taking the expense leverage through the changes and the underwriting ways we do business, how we underwrite -- centrally versus de-centrally and things like that. so, it'll be across the board and we expect more out of consumer.
Betsy Graseck-- Morgan Stanley -- Analyst
OK, thanks, and then just last question on the dividend-payout ratio. I realize that earning's up with a lower tax rate. Do you expect you'll keep that dividend-payout ratio flat or how are you thinking about the dividend and overall capital return?
Brian Moynihan-- Chairman and Chief Executive Officer
We basically said we're moving toward a 30% payout ratio of earnings and I think that would mathematically follow what you just laid out, the fact that if tax earnings go up, it'd be higher number. We're not quite there yet but we're pushing toward that direction.
Betsy Graseck-- Morgan Stanley -- Analyst
OK, thanks a lot, Brian.
Operator
And we can take our next question from John McDonald with Bernstein. Your line is now open.
John McDonald --Bernstein -- Analyst
Hi, good morning. Brian, thanks for the comments on expenses and how you're thinking about some of the tax impacts and maybe accelerating investments. I guess, kind of just coming back to that, if we think about, you got through this $53 billion, you're kind of there now, is this a level where you feel like you could run the company and kind of have some kind of maybe just core inflation associated with the economy? Are you still reinvesting cost-saves but you're still taking out cost some places and reinvesting in other? If you think about 2019, you're beyond this $53 billion kind of where you want to be or should we think about an efficiency and ratio set of goals for the next year? Is that a better way to think about it?
Brian Moynihan-- Chairman and Chief Executive Officer
I think, as we said before, the key is to drive operating leverage as Betsy referenced, John, and continue to drive that across the businesses. A couple things. We've been clear that we decide the discussion about the invests on the proceeds of taxes but basically, the $53 billion was a rate that we could kind of sustain around, i.e. continuing to invest in operational improvement over time and keeping a relatively flat.
And you are dealing with inflation and things like that that creep up on you. And so, we had a pretty good dynamic going and the sole question is do you want to invest a bit to speed up and that would just increase that number by a bit and then play over the next couple of years but the basic principle's to run a company relatively flat through continued investment and cost-effectiveness is still -- we've still got a lot of room ahead of us. I always come back, John, and you've followed our company closely, we will continue to have the same rigor around the way we run the company. Just because the tax rate is lower doesn't change how we're going to do it.
So, we're going to keep driving that analysis that says how much can we invest in building this operational excellence campaign we're on. We just see tremendous opportunity to keep applying digitization to paper and the work and the company and continue to drive that. So some of these investments will be branches or people or salespeople, and have been, and the businesses, but on the other hand we're investing tremendously in effectiveness in the company and we'll continue to do that.
John McDonald --Bernstein -- Analyst
OK. And then just for Paul on the overdraft policy, understanding the long-term franchise value of the new policy, trying to think about the near-term financial impact. Is there any kind of pull-through or continuation of drag on deposit fees that might come from the new overdraft policy or is that impact maybe fully in the fourth quarter numbers yet?
Paul Donofrio-- Chief Financial Officer
I would say that you're going to see that next year, if I were modeling it, you want a probably low single-digit impact.
Brian Moynihan-- Chairman and Chief Executive Officer
It came in partway through the fourth quarter. So a good chunk of it's in there, John, so it'd be a modest impact beyond that.
John McDonald --Bernstein -- Analyst
OK, thank you.
Operator
We can take our next question from Steven Chubak with Nomura Instinet. Your line is now open.
Steven Chubak --Nomura Instinet -- Analyst
Hi, good morning. So, I wanted to start with a question on credit outlook. Delinquency trends remain quite favorable. Brian, you noted that NPL declined both consumer and commercial.
I'm just wondering how we should be thinking about the provision outlook in the coming quarters. Is it still reasonable for us to expect that to traject in line with charge-offs to maybe some upward growth as the loan portfolio continues to season, so maybe somewhere in the range of like $900 million to a billion? Is that a reasonable expectation
Brian Moynihan-- Chairman and Chief Executive Officer
We expect credit to continue to perform the way it performed in the first three quarters of 2017, which we would characterize as solid if not excellent. We would expect provision to roughly match net charge-offs, with reserve releases moderating over time as we continue to build allowance and support of loan growth. Those releases are being driven by non-core consumer real estate and energy.
Steven Chubak --Nomura Instinet -- Analyst
OK and just one clarifying question for me on the expense side. I know that Betsy and John had already touched on this a little bit but I just wanted to clarify the guidance that you guys had actually given on the last earnings call. Brian, it was in the Q&A where you alluded to the fact that you expect expenses to be flattish in 2019. I know you're very focused on digitization and automation.
I just want to confirm whether that's still a reasonable expectation. Just because it looks like most people are contemplating some expense ramp from 2018 to 2019.
Brian Moynihan-- Chairman and Chief Executive Officer
We'd expect that all things being equal, they would be flattish and that's what we've told you. The question is, we took a little bit of money and accelerate investments and kind of run through a couple of years and probably drop back off but it's be very modest and in the greater context. A lot of those investments get capitalized, the near-term P&L impact's different, but basically from a conceptual framework, we think we can run the company and that, below $53 billion on a consistent basis for the next couple of years with a caveat that we may look to invest part of the tax savings on top of that and well be very clear if we do that.
Steven Chubak --Nomura Instinet -- Analyst
And one final one for me just regarding the remarks on the wealth-management side. Brian, you talked about efforts to invest in technology to drive improved profitability. In the past, you had alluded to a 30% margin target. I didn't know if that was still a reasonable expectation that you guys could get to.
Brian Moynihan-- Chairman and Chief Executive Officer
Yea, I think we're at 27 this quarter, 26-27, 26, we've been bouncing around there. It's the target to get to. I think mechanically there's some things that help us over the next couple of years in terms some stuff running off that pushes this up. So we continue to do that.
What we're talking about is a more fundamental reset on a couple of things. Obviously, in the lower affluent businesses we're driving Merrill Edge and things as a more efficient platform by definition and secondly, there is a lot of paper in this business and a lot of work, even the advisors themselves, there's a lot of automation of work they do that will make it easier for them so they can become more efficient and handle more clients [Inaudible]. But if you think about the core pre-tax margin, it'll move up and we still believe we can get it up around 30 and the deposit side helps that as the arbitrage from rates goes through that business.
Steven Chubak --Nomura Instinet -- Analyst
Excellent. Thanks for taking my questions.
Operator
And our next question comes from Glenn Schorr with Evercore ISI. Your line is now open.
Glenn Schorr --Evercore ISI -- Analyst
Hi, thank you. Hopefully, this is simple and I know you can't talk for the regulators but all else equal, have you thought through how the tax act might impact the CCAR process, meaning I see just a lot higher PP&R and it shouldn't impact anything else in a vacuum but just curious if I'm missing something there.
Brian Moynihan-- Chairman and Chief Executive Officer
I don't think you're missing anything. I think all companies, all banks are going to keep more of what they earn. That's going to increase our profits. So, we're going to be in a better position to return more capital to shareholders in the form of dividends and buybacks.
Glenn Schorr --Evercore ISI -- Analyst
And then just switching over to wealth management, a couple of little questions. No. 1, where's all the growth coming from, meaning you noted the strong flows. Curious what's current versus new clients.
And you also noted advisors are up 3%. Is that training or is that recruiting? Just curious.
Paul Donofrio-- Chief Financial Officer
Look, the FA reflects really our continued investment in the training program. Some experienced hires offset by sort of the normal kind of attrition which has been very low particularly in competitive losses.
Brian Moynihan-- Chairman and Chief Executive Officer
Paul, just remember, just to be clear, we have changed our recruiting. We announced that six months ago where we had been recruiting in sort of the traditional way. So, most of the growth is coming through our advisor-training platform, which we consolidated between the people who work in a branch and the people who work in the Merrill office. They're brought under one big training program, again, for effectiveness and we think there's great prospects for that.
It will take a few years for that to play out, obviously.
Paul Donofrio-- Chief Financial Officer
So as you think about the numbers, it's just AUM growth, which is being driven by market levels, being driven by increased flows. It's being driven by some new households and we're very focused on that. That's offset by a little bit of spread compression and decline in transactional revenues that we've been seeing now for a couple of years.
Glenn Schorr --Evercore ISI -- Analyst
OK, last follow up, if I could. Your decision to stay in protocol is a little different than a handful of the large peers. Just curious, your thought process and experience so far.
Brian Moynihan-- Chairman and Chief Executive Officer
The experience so far has been relatively modest in terms of anything. People have been changing their opinions, but we continue to monitor the market, we figure out what we want to do but we haven't changed our position yet.
Glenn Schorr --Evercore ISI -- Analyst
OK, thank you.
Operator
And we will take our next question from Matt O'Connor with Deutsche Bank. Your line is now open.
Matt O'Connor --Deutsche Bank -- Analyst
Good morning. I was hoping to follow up on the outlook for net-interest income for the full year. You mentioned some of the drags from the card business. I guess in the grand scheme of things, it doesn't seem like a $500 million drag from card is really that material.
Obviously, you had good [Inaudible] growth year over year. So, just trying to get a little better sense of maybe the magnitude of [Inaudible] that you're looking for. And then if you want to give us the bond premium amortization, how much benefit that was this year versus last, that might be helpful.
Brian Moynihan-- Chairman and Chief Executive Officer
Look, we expect solid NII growth in 2018 from continued sort of NIM expansion as well as loan and deposit growth. I think the size of the increase is going to depend upon the amount of loan growth and [Inaudible] rate increasing along the forward curve, and obviously our ability to manage deposit rate paid. With respect the bond premiums, what I would point out was that in 2017 we got a benefit of approximately $700 million from lower bond amortization driven by slower prepayments as long-end rates moved up at the end of 2016. So, you really can't expect that to repeat itself this year given that that curve is not linear, it's convex, and we've already had a big increase in rates.
So, we're not going to get the same decline in the future of prepayment speeds. You noted and I would also note that 2017 included half of UK Card and then you've gotta factor in FTE but all that said, we feel good about 2018 NII growth. We think it's gonna be solid. It's going to be back to basics growing loans, growing deposits, managing deposit rate paid well.
Matt O'Connor --Deutsche Bank -- Analyst
Ok, it's helpful. And then just separately on the retail deposit side, you mentioned essentially no repricing there and it's consistent, I think, with what we're seeing for most of your big peers but just wondering what your thoughts are in terms of when there does start being a little bit of upward pressure, there, and being the biggest deposit player, you might be one of the kind of setters in the price there as we think about rates going forward.
Paul Donofrio-- Chief Financial Officer
I'm not sure how helpful I'm going to be to you. I would just make a couple of points that we've made many times. The industry really hasn't seen on the retail side deposit rates increase sort of much or at all on traditional counts and I think it's important just to remind everybody that Bank of America delivers a lot of value to depositors. You've got transparency, convenience, safety, mobile banking, nationwide network, advice and counsel.
I think all of this plus a lack of market pressure so far has kept deposit rates relatively low. You've seen rates rising in [Inaudible] and global banking. Look, at some point rates are going to rise and my guess is we're getting close to that point, given the expected Fed fund rate hikes here in 2018. We just don't know though.
What all I can tell you is that we're going to balance our customer needs and we're going to balance the competitive marketplace with our shareholders' interest and we're going to do the right thing for all the parties.
Brian Moynihan-- Chairman and Chief Executive Officer
I'll just add a couple of things. One, the pricing strategy in consumer's largely driven on depth of relationship. So, as we look at pricing tiers and how we do it and set by market, set by product, set by customer type and relationship, the rewards programs that reward deposit balance along with lower rates on loans and other types of things, it's an integrated business and a lot of people focus on the one aspect of it and try to isolate it but it's actually a very integrated business. But to give you a couple other things, what holds us down is, as you look at deposits year over year and consumer up $47 billion, the checking, which is always going to be very low, it was up $30 billion of the $47 billion, or $29 billion of the $37 billion and CDs are down $4 billion again.
So, even we've run off CDs. So, that dynamic is always going to lead to an all-in deposit price for basis points that looks lower, but it's the quality of the checking, franchise and core franchise we have. I think we had the average checking balance in consumer reach $7,000 this quarter. They're all prime core-transaction accounts for the household, which means the paycheck's coming in and that's what's driving the overall structure of the business and will continue to do so.
Matt O'Connor --Deutsche Bank -- Analyst
OK, thank you very much.
Operator
And we will take our next question from Mike Mayo with Wells Fargo. Your line is now open.
Mike Mayo --Wells Fargo -- Analyst
Hi. What is your total technology spending, say, for 2017? How did that compare to 2016? Where do you expect that to be for 2018?
Paul Donofrio-- Chief Financial Officer
Well, to be comparable, you have to understand what the components are but the component most people focus on is what we call technology initiatives or coded programming. That's about $2.7 billion and relatively flat.
Mike Mayo --Wells Fargo -- Analyst
Relatively flat for 2016 and 2017. What about for 2018?
Paul Donofrio-- Chief Financial Officer
Relatively flat for 2017 and 2018. We are getting, even the way the program, a little bit of efficiency, the nominal number for 2017 [Inaudible] higher than that and the number for '18 will be lower than that but it's largely getting the same amount of work done for a little less efficiency, a little less cost per dollar per programming unit, for lack of a better term. So, that's been fairly constant across time and we continue to evaluate that level of spending at all times.
Mike Mayo --Wells Fargo -- Analyst
So, going back to Slide 12 for the consumer banking digital trends, are you spending more money in those areas as you get more traction? I mean, you see 23% of mobile deposit transactions that are digital. I mean, where do you want to take that 23% number and do you need to spend more to get there?
Paul Donofrio-- Chief Financial Officer
Well, I think when you talk about technology, yea, the consumer bankers benefit by a lot of technology spending across a lot of dimensions including the way we distribute the environment to the branches, use of tablet type technology in our branches to interface with customers, better call center technology. It is a tremendous investment in the consumer. On the digital side, specifically we will travel with the customer and we're getting the customers to understand the value of instead of going to ATM to deposit a check, do it with their phone, or instead of going to a branch to deposit, do it with their phone but we can't get ahead of them. We have to walk with them and help them do it and help them grow and that 23% number from three or four years ago as you see on the page, Mike, that 12%, it's a meaningful amount.
It's about 1,000 branches of activity go through the phone. So, we'll continue to drive that but I think, yes, we've invested but it's not necessarily what we've invested this year, it's the $1 billion we've probably invested in mobile technology over the last five, six years to get us here that now we're taking advantage of. And then, as you know, [Inaudible] comes out, the Merrill Edge capabilities continue to improve to help in the [Inaudible] America. So, there's a lot of stuff behind it.
So, think about the spending of $2.5 billion to $3 billion in technology, think of us having done that for a long time and think of some of those benefits now coming through. So, it's not like we have to accelerate spending to get the mobile behavior. It's actually a change in customer behavior, which is less about the technology. It's more about getting the customer to move their behavior.
Mike Mayo --Wells Fargo -- Analyst
You guys have said take a look at all these trends collectively on Slide 12 but don't look at one in isolation. So, what sort of metric should we monitor externally to gauge your progress? Would it be, for example, the consumer banking efficiency ratio or is there one all-encompassing number or how would you suggest that we think about this?
Paul Donofrio-- Chief Financial Officer
Well, I think the efficiency ratio, when the team tells me that they have it down to 50 and they're gonna get below 50, and they take great solace in that, I tell them "Don't take great solace in that because we don't know how low it could go" but the one I think I'd argue is that we've always looked at is if you look on Page 10, Mike, the average cost of deposits. If you take the entirety of running this system as a percent of deposit which you can benchmark equal relatively clearly in the industry, you'll see that we run about 160 basis points -- that's the phones, the mobile, the technology, people, and all that stuff against the deposit base. That has come down over the last seven, eight years from 300 basis points to 161 basis points. That is a simple way for people to think of the impact of all this transformation activity in your effectiveness and efficiency in the business.
Also, you wouldn't want to do this if your customer scores are suffering during that timeframe. The customer scores have risen, as Paul said earlier, to record heights. You can't get ahead of the customer and you can't push the customer do something that they don't want to do. Hence the challenge is to keep that cost efficiency at 161 basis points to be the benchmark while improving customer experience.
Brian Moynihan-- Chairman and Chief Executive Officer
And, Mike, [Inaudible] you got to focus on operating leverage. That's a key thing that we're looking at all the time and holding people accountable to in addition to efficiency and then all the other individual metrics across mobile adoption and digital sales.
Mike Mayo --Wells Fargo -- Analyst
Last follow-up just on that last point, Brian. A lot of investors have voiced concern that the internet digital banking will be the demise of the deposit, that deposits will flee more quickly. What's your short answer to that concern?
Brian Moynihan-- Chairman and Chief Executive Officer
I think year over year the consumer business grew $47 billion over, again, deposit growth. I think that sort of speaks for itself, Mike.
Mike Mayo --Wells Fargo -- Analyst
All right, thanks.
Operator
And we will take our next question from Ken Usdin with Jefferies. Your line is open.
Ken Usdin --Jefferies -- Analyst
Thanks, good morning. If I could follow up on the loan side, 6% year over year in core business, pretty decent rate and you're seeing growth across. Just wondering what are your expectations for loan growth as you look out, and in a bigger sense any sense of just movement in commercial and corporate America in terms of starting to think about investing more in their businesses?
Paul Donofrio-- Chief Financial Officer
We feel really good about loan growth. Clearly, tax reform is going to make businesses and individuals have more money in their pocket and we think that's going to stimulate economic activity. We think the tax reform has made America stronger, there's been more investment there because we've leveled the playing field. So, medium, long term, even short term I think we're very optimistic about loan growth with a slight caveat that people are repatriating some funds.
So, we're going to see what effect there is in the short term really on large corporate international kind of borrowers. At a more detailed level, we feel like we've been growing well in mortgage and we're going to [Inaudible] that's going to be offset by home equity run-off, card's been growing well in the fourth quarter. I would note that seasonally card balance is usually done in the first quarter. Auto has been growing strongly historically.
That's going to soften or has softened. Again, I would remind everybody that we are focused on prime and super-prime and we didn't follow the market out to extended the durations but we're still holding our own there and expect slight modest growth next year. And on the commercial side, we've been growing loans at mid-single digits and, again, subject to what happens with repatriated funds here in the short term, I don't see any reason to change our expectations around loan growth.
Ken Usdin --Jefferies -- Analyst
Paul, is there any change in the rate of run-off in the all-other bucket from that $71 billion bucket? How fast are you expecting that to still run off?
Paul Donofrio-- Chief Financial Officer
The way I'd characterize it going forward is it's going to run off sort of four to five to six per quarter, call it five.
Ken Usdin --Jefferies -- Analyst
OK, one quick one. Mortgage is a small line but it had a big swing, $300 million to a negative, especially that other line. Can you just talk us through what the couple hundred million-dollar negative was in the other part of mortgage and if that's recurring or just a one-time thing?
Paul Donofrio-- Chief Financial Officer
Yea, sure. You're talking about the MBI one, right?
Ken Usdin --Jefferies -- Analyst
Yes.
Paul Donofrio-- Chief Financial Officer
So, we had [Inaudible] warranty provision of approximately $200 million to resolve some claims. If you exclude that and you look quarter over quarter, the decline in mortgage banking income reflected lower production volume in a small mortgage market as well as lower servicing income. As the size of that portfolio continues to decline, keep in mind that mortgage banking income line is just simply becoming less relevant since we are now retaining 90% of our originations on the balance sheet. And coming back to the [Inaudible] warranty of $200 million to resolve a claim, if you take a look at the litigation line this quarter, it was a little bit lower than normal.
So, we're resolving claims. Sometimes they show up on litigation. Sometimes they show up on [Inaudible] warranty but there's a little bit of geography there.
Ken Usdin --Jefferies -- Analyst
Got it. All right, thanks a lot, Paul.
Operator
And we will take our next question from Saul Martinez with UBS. Your line is open.
Saul Martinez --UBS -- Analyst
Hi, thank you. Saul Martinez. A couple of questions. I just wanted to go back, Brian, to the comments on your ROTCE and your ROA targets obviously with the bump from tax reform, you hit and you exceed the 12% and the 1% target that you previously laid out but as you go forward, you benefit from the lower tax rate, you sort of right-size your efficiency, get to the $53 billion and drive positive operating leverage from there, rates normalize.
Not to put words in your mouth but it seems like it's pretty easy to get to sort of to the mid- to high-teen ROTCE and ROAs well in excess of 1 but do you have a view on where you think your ROTCE can get to over the next couple of years and where ROAs can get to over the next couple of years if things progress as you think they might?
Brian Moynihan-- Chairman and Chief Executive Officer
I think that you in your question sort of state it for yourself, which is yes, there will be a mathematical bump that will make it, quote, easy to get there. That's at 12% and you're running right around that now but what we were trying to say earlier is we don't look at 12% as being "Gee, we made it. Now let's stop." The answer is we'll drive that number as high as we can, driving responsible growth, and as we start to get rid of more of equity, then we earn because we have access to equity that'll help. We can continue to improve the earnings that'll help us drive operating leverage and all the things you cited will help.
So, we're going to do it on a sustainable basis. So, the point was when we talked about those targets, we were probably running around 8% or something like that. And so, we said we had to pass over a couple of years to get as close to 12% and 1% ROA at the time and we've made it there and it'd be easier by tax reform but that doesn't mean we're stopping. We will just drive this company the same way and it'll come out be higher now and we'll see those levels and expect to continue to exceed.
Saul Martinez --UBS -- Analyst
OK, fair enough. I guess just to follow up and it's, I guess, maybe a little bit more of a philosophical question. So, Larry [Inaudible], as you know, sent a letter indicating that management should look not only at maximizing profitability and returns for shareholders but at the social impact of their actions, and I think for good reasons you guys take pride in being a good corporate citizen but I'm curious if you have any thoughts on that and whether you think there is a trade-off between maximizing profitability and doing good for society and other stakeholders? And with the tax windfall, do you feel like maybe there will be greater pressure to invest in things or to provide products or take actions that you may not have taken if tax reform hadn't happened?
Paul Donofrio-- Chief Financial Officer
I don't think it'll change the way we run the company. We've been running it on a responsible growth with the four elements: that it grow, no excuses; that it do it on a customer-focused organic basis; gotta do with the right risk; and gotta be sustainable, along the best place for people to work, share our success with our communities and drive the operational excellence. That format won't change. So, what Larry wrote about and what we've been working on for years, the idea of ESG and those types of things as part of our sustainable, part of our sharing success with communities.
This is not new for banking. I mean, it goes back to -- Our banks, all those legacy banks that came together, all were formed to help communities grow. So, we had a long history in investing because we're if already successful, the economies in the communities, we do business in are successful. So, I don't think it's a major change in our industry, frankly, $200 million charitable giving, 2 million volunteer hours, billions of dollars of low and moderate housing [Inaudible] earnings, $1 billion plus out to the CDFIs.
We can rattle off all the stuff, $100 million [Inaudible] commitment we're halfway through. These are things we were doing long before tax reform came and we'll do when tax reform goes away some day or something else changes. These are things that make this company great and, as you said, it's a philosophical viewpoint but also the public role of banking is just a little bit different.
Saul Martinez --UBS -- Analyst
OK, great. Thanks a lot. I appreciate the answers.
Operator
And we can take our next question from Marty Mosby with Vining Sparks. Your line is now open.
Marty Mosby --Vining Sparks -- Analyst
Thank you. Wanted to drill into the expenses just a little bit to get some clarity. It seems like there was two, kind of, not unusual but kind of standout -- $200 million worth of compensation that would have been in the first quarter now's accelerated into the fourth quarter. And then, Brian, you were talking to $200 million of the charitable foundation and the extra bonus payments.
Just want to make sure those were two separate items and that those numbers were correct.
Brian Moynihan-- Chairman and Chief Executive Officer
Marty, I think we've got a little confused. So, in the fourth quarter in the $13.3 billion of expenses, there's about $145 million, $150 million of a one-time $1,000 bonus to people under $150,000 in our company plus we accelerated $50 million of charitable donations in the fourth quarter '17. That's the $200 million. That's what we're talking about.
So, the $13.3 becomes $13.1 if you back up those two items and then do the math, multiply it times four. The acceleration, I assume what you're talking about there is change to FAS123 which is that, a simple way to think of it, if we used to take a billion in the first quarter, now we take 250 per quarter, it moves around a little bit that's a phenomenon we announced earlier this quarter, last quarter we're going to take. So, that number is in that $13.3 also, the 250 for that. It's not acceleration.
It used to be done all at once in one quarter. Now, we spread it across four quarters.
Paul Donofrio-- Chief Financial Officer
We made that change in the fourth quarter. So, you're seeing it in the fourth-quarter numbers.
Brian Moynihan-- Chairman and Chief Executive Officer
And the earlier number's been restated, so the relative difference year over year is the same. Does that help, Marty? Make sure I got your question --
Marty Mosby --Vining Sparks -- Analyst
[Inaudible] make sure those were two separate items and that reconciles where I was getting. And then, if you look at the securities portfolio, you had two things kind of popped up. One, you took just a very modest or slight loss in security sales. Also your ALCI, you had that OCI adjustment, those rates went higher that you mentioned earlier.
Will you be actively restructuring because it does kind of drop to capital anyway in taking those losses as you have the opportunity to kind of round up earnings? Just curious how aggressive you wanted to be kind of in that push.
Paul Donofrio-- Chief Financial Officer
The short answer is no, we're not in any way restructuring our securities portfolio. There was a very modest -- nice find, there -- $23 million loss on some securities we sold in the fourth quarter. That was basically just some legacy stuff we got to a nice price, that affects our CCAR results and we wanted to get rid of it, so we think that's a good trade-off.
Brian Moynihan-- Chairman and Chief Executive Officer
It wasn't related, Marty, to the core sort of way we invest the excess deposit proceeds in a given quarter. This is legacy stuff we're just trying to clean out.
Marty Mosby --Vining Sparks -- Analyst
One of the things we're anticipating is that banks can actually accelerate the benefit as we do get uptick on the back end of the curve by doing some of that aggressive restructuring. So, just was curious if you have been kind of thinking about or kind of looking in that direction.
Brian Moynihan-- Chairman and Chief Executive Officer
We feel look really good where we are in terms of our securities portfolio.
Paul Donofrio-- Chief Financial Officer
And, Marty, always remember the reason why we have the securities portfolio is because we have that deposit franchise growing $40 billion to $50 billion year over year, loans growth at a more modest rate specially due to the run-off. So, you just have to put the money to work and we put it into an investment portfolio to extract that value of that great deposit franchise.
Brian Moynihan-- Chairman and Chief Executive Officer
Yea, remember we're only putting them in treasuries, mortgage-backed securities, or cash. We have a very high-quality securities portfolio.
Paul Donofrio-- Chief Financial Officer
Operator, do we have another question?
Operator
Certainly. We'll move to the next question. It comes from Gerard Cassidy with RBC. Your line is now open.
Gerard Cassidy --RBC -- Analyst
Thank you. Hi, Brian.
Brian Moynihan-- Chairman and Chief Executive Officer
Morning, Gerard. How are you?
Gerard Cassidy --RBC -- Analyst
Good, thank you. Your fourth-quarter results were good and the outlook looks quite good for you folks as well as your peers. Can you share with us what risks you're kind of looking out for on the horizon? Obviously, again, things are looking very good for you folks and we always have to watch out from left field for some type of risk. Anything that you can identify that you guys are just keeping an eye on?
Brian Moynihan-- Chairman and Chief Executive Officer
Yea, I think, Gerard, obviously we're afraid of horribles that you can go through whether it's geopolitical risk, whether it's markets, changing risk, whether it's credit risk because unemployment levels rise. They're all going to come back. This economy's gonna keep moving along, even accelerate or decline and we don't see a lot of risk in that but we do watch those risks. How we avoid them is not what we're doing today.
In fact, it's what we've been doing over years to stay in a high prime quality and consumer business, balancing the consumer business versus commercial exposure, maintain our tough discipline in commercial credit and the situation this quarter obviously is always a wakeup call that some things don't turn out well, and we gotta back, and what are the lessons learned and what we did we do right or wrong in that and how do we avoid that in the future. And the team has spent significant time doing that. We weren't happy with it from the top of the house through to the actual people who were involved in it but even with that, the credit cards year over year were relatively flat and the team's going to adjust. So, when we think about all those risks and [Inaudible], you know the list as well as I do.
The question is how do you balance and how do you keep yourself ahead of those so that you won't be immune from them but they will impact our company. That is what we define as responsible growth, quite frankly.
Gerard Cassidy --RBC -- Analyst
OK, thank you. And then you guys mentioned that your commercial customers were optimistic about the future. Can you share with us in the investment bank what the pipeline looks like at the end of the fourth quarter coming into '18? And then second, within the investment banking division, I think you mentioned you hired 400 bankers, what sectors are you really doing well and is it healthcare, technology, financial?
Brian Moynihan-- Chairman and Chief Executive Officer
Those bankers are in the commercial banking segment. So, they're middle market and [Inaudible] bank, just to be clear. They are successful but they're across all industries. Paul, why don't you talk about --
Paul Donofrio-- Chief Financial Officer
Sure. The investment banking pipeline, end of the year, lower than Q3, mainly due to the completion of some large transactions in Q4 combined with the postponement or cancellation of some other large transactions. Having said that, again, I think we're very optimistic about 2018 given the tax act which, again, has leveled the playing field here. And we think companies are going to be interested in more M&A transactions and ultimately they're going to be investing and raising capital.
So, down a little bit but that's kind of normal for cleanup at the year-end. Your other question regarding sector, we're No. 3 globally and when you look across all of our entity groups, we are plus or minus around that range pretty consistently. We obviously have a couple of groups that are strong than others but we feel like there are no weak spots in investment banking and all the groups are very strong.
Brian Moynihan-- Chairman and Chief Executive Officer
Gerard, one thing I thought you were going to go to was what do consumers feel. It was interesting that the spending for the full-year '17 whether it's credit cards, debit cards, ACH, wires, payment of bills, cash out of ATMs, over the teller line, checks written, was as 6% growth over '16 and '16 to '15 was a little under 3%. So the consumers are feeling pretty good and spending very strongly out there and it is broader than just the credit and debit card spending. That is up 6% to 7%, as Paul said earlier, but it's the broader use of cash which shows that consumers are putting money out there and spending on things.
So, we feel good about the consumer side and the month of December was faster than the year in terms of the growth rate of 7% versus 6%.
Gerard Cassidy --RBC -- Analyst
That's a real good insight. And then just lastly, I think you talked about getting the dividend-payout ratio to 30% and I recognized that this is a board of directors' decision. If the regulators give the green light to the [Inaudible] banks that 40% dividend payout ratios are OK, philosophically, how do you think about that if, again, the green light is given by the regulators?
Paul Donofrio-- Chief Financial Officer
I think we'll have to think about that when we get there. I'm not sure for [Inaudible] largest banks are not going to always be a little more circumspect or whatever the right word would be in terms of governing our dividend. They just don't want us to ever have to cut our dividends and as you do, look at it mathematically across time periods. The idea of us [Inaudible] 70% of our earnings, therefore being able to pay for the dividend is a very low probability and that's where they came up with that number and I think we'll see how it plays out.
I don't know what they'll do but our strategy inside the company is to continue to move up the dividend on a rational basis along with the earnings and get it close to that number.
Gerard Cassidy --RBC -- Analyst
Great, appreciate it. Thank you again.
Operator
And our next question comes from Vivek Juneja with JP Morgan. Your line is open.
Vivek Juneja --JP Morgan -- Analyst
Hi. I have a couple of questions for you folks. Paul, you've mentioned that NII, you did some puts and takes. Just want to tie them all together.
Net-net, I recognize that they can't issue in Q1, would you expect some growth going from Q4 to Q1 given the December rate hike even adjusting for the [Inaudible]?
Paul Donofrio-- Chief Financial Officer
I think it's too early to give you that sort of guidance. I've given you everything that I want to give you at this point. Again, we got two fewer days, we've got the card loans, which is usually a bit lower. You have to get rid of the FTE, I don't know how you look at it.
And remember that at the end of Q4 there was a run-up in LIBOR in anticipation of the rate increase. So, we got some of that benefit in Q4. It's really just going to depend on loan and deposit growth and what happens on deposit pricing. That's why I'm not really willing to tell you higher or lower because I just don't know how deposit pricing's going to play out over the quarter.
Vivek Juneja --JP Morgan -- Analyst
OK, thanks on that one. Brian, a question for you. One of your peers set a goal of 2% of net income for corporate philanthropy. Are you thinking of setting anything like that?
Brian Moynihan-- Chairman and Chief Executive Officer
We have what you call [Inaudible] charity. We've kept our levels consistent from before the crisis now about $175 million to $200 million a year as we expect to keep it there. In addition to that, we do tremendous volunteer work 2 million hours a year and other things. We feel comfortable at that level.
I haven't even done the math lately, but I think that's 1% after-tax at this point but our view is that we can have a lot of impact there and it ebbs and flows depending on what's going on at the moment but I don't expect this to change dramatically.
Vivek Juneja --JP Morgan -- Analyst
OK, thank you.
Operator
And we will take our final question from Brian Kleinhanzl with KBW. Your line is open.
Brian Kleinhanzl --KBW -- Analyst
Thanks. I know you don't want to give a commentary about deposit betas in the quarter and all that, but what's the ability that you have to remix [Inaudible] up to 125%, so to the extent that you don't want to get as competitive on deposit rates, I mean is there still plenty of opportunity to remix from short-term into loans?
Paul Donofrio-- Chief Financial Officer
On deposits, it's a very sophisticated question of how you price. We price literally by every market, by every product, by different customer sets. So, as Paul mentioned earlier, in the wealth-management business we moved pricing up because people with $10 million in investment assets with us, obviously the cash in their accounts is an investment asset as opposed to in the retail business, it'd be their household daily flow. So, it's a very sophisticated question and you're seeing us work that question across time and you saw us raise rates in the wealth-management business.
Consumer business rates raised, albeit slower. The corporate business responds a little bit more instantaneously, but it's a methodology for paying for services. So, it's a very complex thing. So, it's hard to sort of give you a single answer and when we model, we use a number but frankly, we've done better than that model every single quarter but we have to be conservative on our modeling for NII and other purposes.
Brian Kleinhanzl --KBW -- Analyst
OK. And then just one follow-up on the expenses in 2019. I mean, is there a big opportunity to do investments? I know you said you would give further details later on as you looked across, maybe pull forward some investments and lower expenses, but it seems like if you were to go on some kind of accelerated investment, maybe there would be a chance to get below that $53 billion in expenses in 2019. I mean, that's a possibility, something you're actively pursuing?
Brian Moynihan-- Chairman and Chief Executive Officer
Our job, what we told you guys, was when we get to $53 billion for '18, be relatively flat, thereon absorbing 6% medical care, cost increases, raises, and things like that, and that comes through ability to continue investment effectiveness and efficiency. So, that's an operating strategy level on the exact number that we're focused on and we continue to focus on that. So, there's no change to that. The question would be, do you want to accelerate some investments given the higher after-tax yield and we will look at it.
As I said, we will look at it across time. You have to be able to get the value of those investments. As one of the callers' questions referenced a little bit earlier, we added 400 commercial bankers. We have to make sure if we added 400 more tomorrow, you might not be able to get them to speed.
So, you have to make sure that coming in and use techniques to divide the portfolio to give them deeper client penetration to get the products per customer up. That takes time. You just can't snap your fingers. So, the ability to accelerate those investments are largely based on what we think we can do that will be modest in the sense that even if a fair increase at the margin is not a big number in the overall scheme of things at the $53 billion expense level.
Any other day our challenge is to drive operating leverage and we continue to do that, we've done 12 quarters in a row and we will continue to do that going forward and that's good for our shareholders.
Brian Kleinhanzl --KBW -- Analyst
OK, thanks.
Operator
This does conclude the Q&A session. I'll turn it back over to our presenters for any additional comments.
Duration: 93 minutes
Lee McEntire -- Senior Vice President of Investor Relations
Brian Moynihan -- Chairman and Chief Executive Officer
Paul Donofrio -- Chief Financial Officer
Betsy Graseck -- Morgan Stanley -- Analyst
John McDonald -- Bernstein -- Analyst
Steven Chubak -- Nomura Instinet -- Analyst
Glenn Schorr -- Evercore ISI -- Analyst
Matt O'Connor -- Deutsche Bank -- Analyst
Mike Mayo -- Wells Fargo -- Analyst
Ken Usdin -- Jefferies -- Analyst
Saul Martinez -- UBS -- Analyst
Marty Mosby -- Vining Sparks -- Analyst
Gerard Cassidy -- RBC -- Analyst
Vivek Juneja -- JP Morgan -- Analyst
Brian Kleinhanzl -- KBW -- Analyst
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The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has adisclosure policy. || Bank of America (BAC) Q4 2017 Earnings Conference Call Transcript: Logo of jester cap with thought bubble with words 'Fool Transcripts' below it Image source: The Motley Fool. Bank of America (NYSE: BAC) Q4 2017 Earnings Conference Call Jan. 17, 2018 8:30 a.m. ET Contents: Prepared Remarks Questions and Answers Call Participants Prepared Remarks: Operator Good day, ladies and gentlemen, and welcome to the Bank of America Fourth-Quarter 2017 Earnings Announcement. Currently, all phone lines are in a listen-only mode. Later there'll be an opportunity to ask questions during the question-and-answer session. You may register to ask a question at any time by pressing the *, then 1 on your touchtone phone. Please be advised today's program may be recorded. It is now my pleasure to turn the program over to Mr. Lee McEntire. You may begin, sir. Lee McEntire -- Senior Vice President of Investor Relations Good morning. Thanks to everyone for joining this morning's call to review our 4Q '17 results. Hopefully, everyone's had a chance to review the earnings release documents on the Investor Relations section of ourbankofamerica.com website. I'll just remind you we may make some forward-looking statements in the discussion today. For further information on those, please refer to either our earnings release documents, our website, or our SEC filings. Brian Moynihan, our chairman and CEO, will make some opening comments. Paul Donofrio, our CFO, will review the 4Q results. And then we'll turn it back over to Brian for just a few thoughts from the company as we head into 2018 before we open up for questions.Brian, take it away. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Brian Moynihan -- Chairman and Chief Executive Officer Surely. Thank you and thanks, everyone, for joining us today. Good morning. This was another strong quarter and year for our company across the board. Story continues We drove positive operating leverage consistently through the year. In fact, this is the 12th straight quarter where we have reported a positive operating leverage on a year-over-year basis. You can see that on Slide 3. And we did it the right way. We achieved it through fundamental operating excellence, driving revenue, and controlling expenses, combined with strong relationship in sales and production. Full-year revenue was up 5%, excluding the tax act impact, while expenses declined 1%. Our business generated 6% loan growth for the year. We grew and remained true to our responsible growth operating model where there's a clear recognition throughout the company of who our targeted customers are and how we manage risk and our desired outcomes. So, let me highlight a little our progress.For the year we reported $18 billion in after-tax net income. Excluding the tax act impact of $2.9 billion, we would have reported net income of $21 billion which is up 18% over [Inaudible] 2016. This represents the highest earnings run rate for the company in its history. Paul will discuss the tax act impact in a little more detail later. Our company remains balanced, with earnings coming relatively evenly from our consumer and our commercial institutional segment businesses. On a more businesses for people, our consumer businesses and our wealth-management businesses, together they earned more than $11 billion and grew 14% while our global banking and global markets business together generated about $10 billion, and they're up 7%. Excluding the tax act impact, our return on tangible common equity was 11% and our return on assets was 93 basis points, pushing closer to our long-term target. Across the board in our businesses, our brand improved in every area recognized by many outside parties. And through our higher stock price and improved credit ratings, we saw tangible benefits of our progress. Shareholders not only saw share price improvement but we increased our dividend by 60% and reduced our fully diluted share count during the year by 3.4%. Average diluted shares were down 370 million from this time last year and down nearly 1 billion from the peak. With an approved CCAR plus our additional 5 billion, we'll continue to make progress in this area.At the core of our model is a talented group of teammates, our best assets. Therefore, we continue to invest heavily in making our company the best place for our teammates to work. Not only do we continue to rank high in overall list of best companies to work for, we rank in the top 50 list of the best workplaces for diversity, for parents, for working mothers, and Hispanics, among others. You can see some of these accolades in a couple of the appendix slides we've added to the package this time. This year we also invested heavily in our teammates' [Inaudible] improvements and starting minimum wages, where we put them at $15 this time last year. We introduced sabbaticals, family leave increases, bereavement leave policy extensions, and wellness initiatives. This latest example is our announcement at the year-end we were able to provide nearly 70% of our teammates with a bonus to share in our future success of the expected benefits of the tax savings. As Paul will explain, this added $145 million in expenses in the fourth quarter. We did all this while investing to continue to lower cost me so we can make more money in our franchise. We also lowered costs while we continued our investment in digital capabilities for security protection for our customers, which drove our online and mobile banking leadership rankings. We also rolled out digital shopping capabilities in auto and in home. We are also heavily investing in capabilities for our investment clients across the wealth-management spectrum through our award-winning digital brokerage capabilities as well as our treasury capabilities for our commercial clients. Our consumer mobile banking app became the first app in the Apple App Store to be certified by JD Power. We know there's much more to do to continue to drive this positive change in our company and for the benefit of our customers and clients. So we as a team are proud of the outcome today for sure, but even more proud that we're proving that we can win and do it the right way to drive responsible growth, and we plan to do that in the future.With that, let me turn over to Paul to give you comments on the quarter. Paul Donofrio -- Chief Financial Officer Thank you, Brian. I want to go back to Slide 2 to start. We reported net income up $2.4 billion, or $0.20 per diluted share, in Q4. Late in the quarter, we informed investors through our 8K filing that we expect an impact of approximately $3 billion from the tax act. Our estimated impact came in just shy of $2.9, lowering EPS by $0.27. Remember, the tax act is complex, with several novel provisions. Any clarifying guidance or new information could affect our estimated impact and, as noted in our materials, the impact was recorded in two places. First, in other income, there was a charge of approximately $950 million to revalue certain renewable-energy investments. With the new income tax line, this pre-tax charge was offset by the tax benefit of this $950 million charge plus the revalue of certain deferred-tax liabilities associated with these renewable-energy investments. In total, the tax line includes $1.9 billion aggregated expense, with a multiple impact of the tax act including the tax benefit of the charge for new energy investments that I just mentioned as well as the revaluation of our deferred-tax assets and deferred-tax liabilities. In our material, we provided a chart reflecting results on a basis that excludes the tax act impact. We believe this provides a more clear comparison to Q4 '16. On that basis, net income was $5.3 billion with EPS of $0.47 per share, growing 20% year over year. Return on tangible common equity was 11%. Return on assets was 90 basis points. Operating leverage year over year was a strong 8%. Revenue was $21 billion, improving 7%. An 11% improvement in net-interest income drove revenue growth. Expenses declined 1%, which included roughly $200 million with the shared success bonuses in late December that Brian mentioned plus an acceleration of planned charitable contributions in late December as we looked to share some of the future tax savings with our teams and the communities we serve.Provision expense was $1 billion, up $227 million, driven by a $333-million impact from the charge-off and reserve bill for a single commercial exposure. Negative news reports on that company caused significant market concerns, which affected the credit spreads and stock price of this formally investment-grade credit. Despite downgrades of this credit, both non-performing loans and criticized commercial exposures declined from Q3 and, excluding this specific loss, net charge-off remains very low turning. Turning to the balance sheet on Slide 4. Overall compared to September 30, end-of-period assets of $2.3 trillion were mostly unchanged. Loans grew $10 billion but were offset by a $14 billion decrease in cash. On the funding side, strong deposit growth from Q3 of $25 billion was offset by reductions in market funding and lower equity. Debt levels were stable with prior period. however, we did complete an $11 billion debt exchange offer in the quarter, which extended maturities and improved the structure of this debt from a [Inaudible] perspective. Liquidity remained strong, with average global liquidity sources of $522 billion, and we ended the quarter with a liquidity coverage ratio of 125%. Equity decreased $4.8 billion from Q3. This quarter, through both the purchase of common shares and common dividends, we returned more than $6.1 billion to shareholders. That was $4 billion more than the $2.1 billion in income available to common, which included the $2.9-billion tax act charge. The remaining decline in equity was mostly a result of the decline in OCI as increases in long-end rates decreased the value of our debt securities portfolio. We purchased 174 million shares in Q4 and have repurchased 509 million shares in the past 12 months. Remember, this quarter we received approval for $5 billion in share repurchases in addition to our previously announced $12.9 billion following CCAR. Tangible book value per share of $16.96 was modestly above Q4 '16, as earnings over the year including the tax act impact offset share repurchases and dividends, as well as the conversion of Berkshire preferred stock to common shares. Turning to regulatory metrics and focusing on the fully phased-in impacts, our CET1 ratio declined this quarter. The primary cause of the decline was a return of capital to shareholders in excess of earnings, which obviously included the tax act impact. Focusing on risk-weighted assets and starting with the advanced approach, RWA was flat from Q3 at $1.46 trillion as DTA reductions and the run-off of legacy loans with high risk weights offset general loan growth. Under the standardized approach where risk sensitivity is less, funded and unfunded loan growth across the businesses drove a $22 billion increase in RWA. The CET1 ratio under advanced declined 34 basis points to 11.5%, under standardized, the ratio declined 53 basis points to 11.7%. Both ratios remain well above our 9.5 requirement and supplemental leverage ratios continue to exceed U.S. regulatory minimums. Turning to Slide 5. On an average basis, total loans increased to $928 billion. Note that the Q2 sale of UK Card, which was recorded in all other impacted the year-over-year comparisons of average loans by $9 billion. In Q4, we also sold our remaining student loan and manufactured-housing loans, totaling approximately $800 million. Adjusting for these sales, average loans were up $29 billion, or 3% year over year. Loan growth continued to be dampened by the run-off of non-core consumer real-estate loans in all other. Year-over-year loans in all other were down $29 billion, inclusive of the loan sales. On the other hand, loans in our business segments were up $49 billion, or 6%. Consumer banking led with a 9% increase, with solid growth across mortgage, credit card, and vehicle loans. Wealth management's strong growth of 7% was driven by mortgages and structured lending. Origination of new home equity loans continued to be outpaced by pay-downs. Growth in global banking loans and leases remained solid, up 4% year over year. Switching to average deposits and looking at the bottom right, the growth was $43 billion or nearly 3.5% year over year. This growth was driven by consumer banking, which increased by $48 billion, or nearly 8% year over year. Average deposits declined year over year on wealth-management as clients moved cash to other alternatives within brokerage or AUM. This decline was mostly offset by solid growth in global banking.Turning to asset quality on Slide 6. Total net charge-offs were $1.2 billion, or 50 basis points of average loans. As mentioned, the quarter was impacted by the one large single commercial charge-off. Excluding the single loss, net charge-offs and the net charge-off ratio were consistent with Q3. Also, due largely to this commercial loss, provision of $1 billion was up $167 million Q3 '17 and $227 million dollars in Q4 '16. Provision expense included a $236 million net reserve release. The net reserve release reflects continued improvement in our legacy consumer, real-estate, and energy portfolio. Our reserve coverage remains strong with allowance of loan coverage ratio of 112 basis points and a coverage level 2.6 times our full-year net charge-offs.On Slide 7, we break out credit quality metrics for both consumer and commercial portfolios. With respect to consumer, net charge-offs of $769 million were up $38 million in Q3. The modest uptick in net losses is negatively impacted by the absence of some prior-period recoveries, the Q3 '17 storm-related payment deferrals, and seasonality. The consumer credit card net charge-off ratio increased to 2.78% as the portfolio continues its expected seasoning. Consumer MPL of $5.2 billion declined from Q3 and are at the lowest they've been since Q2 '08 and 45% of our consumer MPLs are current on their payments. Commercial losses, excluding the one large credit already discussed, were stable. Reservable criticized utliized exposure was down more than $1 billion from Q3.Turning to Slide 8, net-interest income on a GAAP non-FTE basis was $11.5 billion, $11.7 billion on an FTE basis. Compared to Q4 '16, GAAP NII is up $1.2 billion, or more than 11%, driven by the spread improvement in our asset yields and funding cost. Partially offsetting the spread improvement is the lack of interest income associated with the UK Card portfolio, which was sold in Q2 '17. The increase year over year was also driven by growth in loans and [Inaudible] securities as well as lower prepayments and therefore lower bond premium write-offs. Focusing on the net-interest yield, it improved 16 basis points from Q4 '16, to 2.39%. Compared to Q3 '17, NII increased $300 million, driven by loans, securities, and asset growth in global markets, as well as a run-up of short-end rates in anticipation of the Fed [Inaudible]. With respect to deposit pricing, we raised rates modestly on selected wealth-management products as well as for certain commercial clients. Consumer rates paid remained stable. NII on a full-year basis grew $3.6 billion, or 9%, to 44.7 billion. In 2018 we expect solid NII growth driven by loan and deposit growth and some net-interest-yield expansion, assuming the forward curve plays out as currently expected. But I would remind you that 2017 included approximately a half a billion dollars of interest from the UK Card business that we sold. This will be a significant offset to NII growth in 2018. In 2018, we also don't expect the same full-year benefit from the reduced premium amortization experienced in 2017, given the increase in rates that borrowers have already experienced. More short term, as you think about NII in Q1 '18, we expect to benefit from the December rate hike. Having said that, remember, there will be two less days in Q1 than Q4. That should reduce NII by approximately $175 million. Also, NII from loan growth in Q1 is normally muted by seasonal declines in card loans. One other item worth noting as you think about Q1, the tax act will lower NII on an FTE basis because the NII gross-up will be lower. However, remember, NII gross-up on an FTE basis is completely offset by higher tax expense, resulting in no change in earnings. Still, on an FTE basis, NII is expected to decrease by approximately $120 million each quarter. On a GAAP basis, again, NII is not impacted. With respect to asset sensitivity as of 12/31, an instantaneous 100-basis-point parallel increase in rates is estimate to increase NII by $3.3 billion over the subsequent 12 months. This is largely unchanged from September 30 and approximately two-thirds driven by our sensitivity to short-term rates.Turning to Slide 9, we had another solid quarter of expense management. Note this quarter includes an accounting change for the retirement-eligible incentives. Previously this expense, which was historically just over $1 billion, was recorded in Q1 when awards were granted. We will now account for an estimate of the next year's grant ratably over current year's four quarters. Prior periods and this quarter's supplemental materials have been restated for this change. Non-interest expense of $13.3 billion was down $140 million, or 1%, from Q4 '16. Note that this amount includes two actions which totaled approximately $200 million that I mentioned earlier to share [Inaudible] tax savings with lower-paid employees and the communities we serve. Excluding these discretionary actions, expenses were down 2%. In addition to cost savings associated with the sale of our UK card business, year-over-year improvements and non-interest expense were broadly distributed across expense categories as we continue to focus on [Inaudible], understanding and improving our work processes, and optimizing the company's consumer delivery network. We expect these benefits over the medium term to drive efficiencies that will help us offset inflationary costs and potentially increases in investment. Compared to Q3 '17, expenses declined by $120 million despite the late-quarter discretionary spend. Decline was driven by lower mortgage servicing costs and lower revenue-related incentives in our global markets business. Excluding the tax act's impacts on revenue, our efficiency ratio of 62% was above our target, reflecting the typical seasonal weakness in our sales and trading business. OK, turning to the business segments and starting with consumer banking on Slide 10, Q4 caps a tremendous year for this business. On a full-year basis earnings were $8.2 billion, growing 14% over 2016, with operating leverage driving the efficiency ratio to 50% by the end of the year. Focusing on our Q4 results, earnings at $2.2 billion grew 14% year over year and returned 24% on allocated capital. Year over year, this business created over 600 basis points of operating leverage, as revenue growth of 10% outpaced expense growth of 4%, Higher interest rates and growth in client balances drove the year-over-year improvement in revenue. Year-over-year average loans grew 9%, average deposits grew 8%, and Merrill Edge brokerage assets grew 22%. Cost of deposits, which reflects non-interest expenses as a percent of average deposits increased modestly because of the year-end discretionary actions mentioned earlier, the share of future tax savings with lower-paid employees and the communities we serve. Net charge-offs increased $107 million from Q4 '16 as we continue to experience modest and expected seasoning of our credit card portfolio and loan growth. Provisional expense increased to $126 million in Q4 '16 and that charge-off ratio remains low at 1.21%.Turning to Slide 11 and looking at key trends, as I mentioned earlier, revenue increased 10% year over year. Within the revenue, mortgage banking income was the only major category that was lower year over year, driven by volume decline. In Q4 we retained about 90% of our first mortgage production on balance sheet. Looking at revenue more broadly, we believe our relationship-deepening [Inaudible] award program is improving NII and growth of balances and allowing cost savings. These benefits are more than offsetting headwinds in the non-interest income line that our industry is facing. Spending levels on debit and credit cards were up 7% year over year and we issued 1.1 million new credit cards in the quarter, in line with last year. Spending levels and a one-time partner rebate drove a 5% revenue increase in card income, which continues to be impacted by strong competition on the rewards front. Service charges were up a more modest 1% and in 4Q we modestly revised our overdraft policy by eliminating certain fees. This revision reduced overall fees but has benefits in that it will improve customer satisfaction while helping to lower servicing cost. By the way, customer satisfaction in consumer banking reached an historic high, with roughly 80% of our clients rating us 9 or 10 on a 10-point scale. Focusing on client balances on the bottom of the page, you can see the success we've continued to have growing deposits, loans, and brokerage assets. We remained focused on prime and super-prime borrowers with average booked FICO scores of at least 760. Expenses were up 4% compared to Q4 '16, as the year-end special bonus impacted this business more heavily than others. Otherwise, investments in renovating branches and technology initiatives modestly outpaced continued optimization and saving from digitalization. To give you a sense of the type and level of continued investment in our financial centers, let me highlight a few facts. During 2017 we opened 30 new financial centers, with 25 of these in no-go areas not previously served by our retail network but in areas where we have existing wealth-management and/or commercial banking presence. We also opened 41 student centers and 69 lending centers and branded 585 Merrill Lynch officers. We also renovated nearly 300 financial centers and replaced more than 3,400 ATMs.Turning to Slide 12 and focusing on the continuing improvement in digital banking trends, as you can see, the year-over-year growth in these metrics continues to be impressive. We remain the leader in digital banking. We now have nearly 35 million digital users, including 24 million accessing their accounts through mobile devices. We processed payments for customers valued at $669 billion in Q4. Annualized, that equates to over $2.5 trillion per yea. And note the 10% growth of digital payments relative to non-digital at 1% as customers continue to migrate from cash and check, helping us improve efficiency and reduce risks. In particular, note P2P payments increasing. They doubled from Q4 '16 as the adoption of Zelle makes it easier to send, request, and even split person-to-person money transfer. Also note on the bottom left the growth in mobile channel users, with 1.3 billion log-ins. Also noteworthy is the volume of mobile deposit transactions which now represents 23% of all deposit transactions and while still small, half of all our retail direct auto loan applications are originated digitally following the recent rollout of our digital auto shopping capabilities last quarter. These digital trends and the investment behind them, plus the continued investment in our financial centers that I earlier listed, must be thought of together as you evaluate and we execute on our high-tech, high-touch customer strategy.Turning to global wealth management on Slide 13, [Inaudible] earnings $742 million, up 17% from Q4 '16, a pre-tax margin of 26% and a return on allocated capital of 21%. Market appreciation and client flows were once again a tailwind for asset-management fees, offsetting modest spread compression. At the same time, brokerage revenue continued to face headwinds as volumes declined and mix shifted. All in, revenue grew 7% year over year, with strong NII improvement and 16% growth in asset-management fees partially offset by lower brokerage revenues. This activity, coupled with careful expense management, drove 4% operating leverage. This quarter we saw AUM flows of $18 billion, bringing flows for the year to nearly $100 billion. Year-over-year expenses were up 3%, driven by revenue-related incentives as well as investments in both primary sales professionals and technology. Over to Slide 14. We [Inaudible] solid, overall client engagement. Client balances rose to $2.75 trillion, driven by higher market values, solid AUM flows, and continued loan growth. As we noted during reviews of previous quarters, clients started to more appreciably move deposits into cash investment alternatives within AUM and brokerage starting early in the year. In the second half of the year, trends improved after we increased rate paid on certain products. Average loans of $157 billion grew 7% year over year, continuing a trend of clients deepening their relationship with us. Loan growth remained concentrated in consumer real estate as well as structured lending. Turning to Slide 15, global banking earned $1.7 billion, increasing 6% from Q4 '16. Return on allocated capital was 17% and stable with last year despite an increase in allocated capital. I want to talk about full-year results for a moment to highlight the success of this business in 2017. On a full-year basis, global banking set several records, including revenue of $20 billion and net income of $7 billion. Full-year earnings were up 21% on strong operating leverage. Revenue grew 8% while expenses were up only 1% as the business reduced overhead to offset increases in investments. And we added more than 400 new bankers over the past two years as we continue to deepen and expand local coverage and commercial and business banking. Returning to Q4 year-over-year comparisons, revenue growth of 10% was driven by improved NII, reflecting solid loan and deposit growth compounded by rising short-term interest rates. We also grew IB fees 16% year over year. Growth was led by advisory fees but debt and equity fees were also up year over year. The efficiency ratio improved 200 basis points to 42%. Provision expense of $132 million increased from Q4 '16 as a result of the commercial charge-off mentioned earlier. Half of the loss was recorded in global banking and half in global markets. Provision expense also included some release of reserves on our energy portfolio, which continued to improve. Growth of loans in global banking remained fairly consistent, with past several quarters increasing 4% year over year. the outlook for loan growth given tax reform remains to be seen, but optimism among our clients is high. However, we also expect some of our clients to use repatriated funds and tax savings to pay down borrowings and other obligations. Looking at trends on Slide 16 and comparing to Q4 last year, with respect to average loans, growth of 4% was led by corporate borrowers evenly balanced between domestic and international clients. Within commercial lending, C&I rose 5% while commercial real estate was flat. In global banking, loans growth was down 1 basis point compared to Q3 '17, continuing the trend we've seen all year which modestly compressed spreads year over year by mid-single digits. Average deposits rose $14 billion, or 5%, compared to Q4 2016 with most of the increase concentrated in the second half of the year, reflecting increases in rates paid in Q3 and Q4. As interest rates rise, the value of these deposits and the relationships they represent is best seen in global transaction revenue, which is up 10% year over year to nearly $2 billion. Total investment banking fees $1.4 billion finished the year strong growing 16% versus Q4 '16. Advisory fees hit a new record. For full-year 2017, we remained ranked No. 3 in overall investment banking fees with fees totaling $6 billion, up 15% from 2016.OK, switching to global markets on Slide 17. I'll review results excluding DVA. Global markets generated revenue of $3.5 billion and earned half a billion dollars. Year-over-year earnings were down by $238 million, driven by lower sales and trading results, higher technology investment spending, and provision. Revenue is down 2% year over year as a decline in sales and trading revenue was partially offset by a gain on the sale of a non-core asset recorded in other income. Sales and trading revenue held up better from the middle of the quarter-end through the end of the year than it did in the prior year. Trading of $2.7 billion declined 9% from Q4 '16. FICC sales and trading of $1.7 billion decreased 13% [Inaudible] the decrease was driven by less favorable market conditions across macro products [Inaudible]. Equity sales and trading, at just shy of $1 billion, was stable year over year as growth in client financing activity offset declines in cash and derivatives-trading given lower levels of volatility and client activity. With respect to expenses, Q4 '17 was 5% higher than Q4 '16 as lower revenue-related incentive costs were more than offset by continued investments in technology. Moving to trends on Slide 18 and looking at trends across the last three years, we would highlight the following. First, starting in the lower left box, full years of trading revenue has been fairly consistent over the last three years at $13 billion to $13.6 billion and note that we have achieved this stability while reducing our [Inaudible] RWA. Now, [Inaudible] over the last three years and that change was reflected in client activity and volatility that varied greatly from both a product and regional perspective over the last three years. Still, we were able to produce relatively consistent revenue on reduced risk over this time period. We believe this consistency shows that clients value the diversity and comprehensiveness of our global markets capabilities, including sales and trading as well as research in every major market across the globe. On Slide 19 we show all other, which reported a loss of $2.7 billion. A few things to note this quarter: The $2.9 billion impact from the tax act was recorded here. So, excluding that charge, all other would have produced a profit of a little over $200 million. Unrelated to the tax act, all other results also include [Inaudible]. Revenues compared to Q4 '16 [Inaudible] were down a little more than $130 million year over year. Remember when comparing year over year, Q4 '16 included expenses and charge-offs for the UK Card portfolio sold in 2017. The tax rate this quarter was impacted by the negative impacts of the tax act as well as the benefit of the unrelated subsidiary restructuring. With respect to tax rate in 2018, prior to tax reform, we expected our GAAP tax rate for 2018 to be around 29% before unusual items. Now we expect the GAAP tax rate to be approximately 20% absent unusual items. And remember when thinking about the tax rate on an FTE basis, the difference between GAAP and FTE has now narrowed from 2 basis points to 1 basis point. This reflects a preliminary analysis of the non-deductibility of FDIC premiums, the global mix of our profits, and other tax reform provisions.OK, let me turn it back to Brian for a couple of closing comments before we open it up for Q&A. Brian Moynihan -- Chairman and Chief Executive Officer Thanks, Paul. As we wrap up, we thought it would be useful to hit a couple of questions from the top that Paul and I've been fielding as tax reform becomes more of a reality. The first question we get often is, how do our clients and how do we feel about the tax reform and the client activity. It's clear from what our clients tell us that tax reform will be a positive for our clients and customers in the United States. There are two key elements from the standpoint of corporate America tax reform: first, the lower competitive tax rate, and second, a territorial system, and both of these were accomplished in the tax reform. This coupled with the continued regulatory-reform agenda to balance regulation, are well-received by businesses, and this increased confidence will ultimately make it, and undoubtedly make it into the business plan. As one of the largest banks in the United States, we will benefit with that as our customers grow and invest. That being said, those customers just as we at Bank of America will look and our peers in our industry are carefully evaluating alternatives to reinvest some portion of those savings to drive further business activity to help grow our company and achieve even more competitiveness. The second question I gets is, does our focus change and will we run the company differently given a lower tax rate and the [Inaudible] is no. We're going to remain focused on driving responsible growth, continually trying to connect better with our customers, striving to make it easier for those customers do business with us, and for our employees do business inside the company. We'll continue to drive operational excellence, lowering operational expenses as we've done for many quarters in a row, and improving our competitiveness as we develop and invest in new products and services. We will also continue to drive our share-return model and we expect the largest portion of benefits in tax reform to be delivered to you, our shareholders. In the end, whether through increased investments, capital distributions, or supporting our clients, all this will benefit the economy and shareholders and drive our activities consistent with responsible growth. The third question is, do we think that the impact of tax reform will affect loan growth. Near term it'll be tougher to judge as people repatriate money or receive more after-tax cash flow. The question is, will they pay it on loans, and perhaps they will. However, over the medium to long term, having more after-tax cash flow can't but be good for business and we will benefit by greater loan growth as those businesses invest those proceeds. We believe the real test for our loan growth will be more the general economy and how it's growing and less about the tax rate.Another question we often get is, does the tax reform change our commitment to a $53 billion goal for 2018. I started out by pointing out that if you look at our expenses in the fourth quarter, we effective reached a run-rate expense in the $53 billion range. We reported for $13.3 billion in the quarter, if you back out the $200 million in additional bonuses and the accelerated charitable contribution, that leaves us just about $13.1 billion. You multiply that times four and that's $52.25 or so billion. If you add $400 million in the FICA-related tax to come in the first quarter and throw in on top of that a couple of hundred million dollars of potential incentives due to the fourth quarter being a lower trading quarter, you get to around a $53 billion run rate. So, effectively we've reached our goal. In the second quarter of 2016 when we first announced this goal, I want to remind you that the expenses that we were trailing at that time were $56 billion. It was in our business plan to hit $53 billion in 2018 and it still is. But as we look forward, we have no doubt, as I said earlier, that businesses including our company will have to look at taking advantages of some of the tax savings to invest to improve their business [Inaudible] faster than they would have done before the tax-reform act. So we continue to evaluate options for longer-term value creation along the dimensions of investments we've been making in branches, in technology and people. We'll continue to assess as we move through the year, however, to be clear we'd expect most of the benefits from tax reform'll flow to the bottom line through dividends and share buybacks over time. In addition, the investments we make will drive operational excellence and efficiency that will continue to play to our benefit over time.The next question I get is around capital return expectations: Will they change given the tax reform. The simple answer to that question is yes. In 2017 we reported net income available to common shareholders as $16.6 billion and returned $16.8 billion back through share repurchase and dividends. We don't need to make any acquisitions in the company, in fact in the United States, deposit acquisition's not legal. So all growth will have to be organic and will continue to be so. We believe we have sufficient capital to absorb our risks as we grow and in fact we have excess capital. We have the capital to also support our customers' demand for financing and we always want to use that capital first to help customers grow. So, yes, we will expect to return more capital to shareholders given the tax act.That brings us to the last question I often hear from investors: How are you performing against your return targets and do they need to increase with the tax savings implied in tax reform act going forward that Paul spoke about? This year, excluding the impact of the tax act, our return on tangible common equity was 11% and return on assets of 93 basis points. They're just shy of the 12% and 1% targets that we laid out a few years ago. Going forward, the benefits from tax reform will easily mathematically accelerate those and we'll reach those targets. The potential lift in returns can be seen by just adding the benefits of the lower tax rate. Assuming 100% of the benefits go to the bottom line, this would equate to something north of 150 basis points of increased return on tangible common equity and more than 10 basis points of increased return on average assets. But keep in mind, we've always been clear that the long-term targets were just a step to keep marking our continued path to driving this company's operating performance. CSR targets will be obtained but that doesn't lower our desire to drive responsible growth to continue to improve the company and continue to improve the returns and return the capital to you and we will continue to do that.So, wrapping up, we will stay focused on responsible growth in 2018. That's what got us here and what will get us here going forward. We will control the things we can do and drive operating leverage through the company. And with that, let me open up for Q&A. Questions and Answers: Operator At this time, ladies and gentlemen, if you would like to ask a question, please press *, then 1 on your touchtone phone. You may withdraw your question at any time by pressing the # key. Once again, it's *, then 1 to ask a question. And we can take our first question from Betsy Graseck with Morgan Stanley. Your line is now open. Betsy Graseck -- Morgan Stanley -- Analyst Good morning. Brian, I just wanted to follow up on one of the comments you made around the expenses. As you indicated in the prepared remarks, the expense improvement has been fantastic, in particular in the consumer business where operating leverage has been very strong over the last two years. I wanted to understand from your prepared remarks, you were saying that $53 billion, you've already met it and you'll retain it for the full year or may change your outlook based on how the customer demand evolves with the tax plan and within that, just wondering if you're expecting that you'll be able to generate more operating leverage, in particular in the consumer space given the groundwork you've laid in digital payments and the branch network. Good morning. Brian, I just wanted to follow up on one of the comments you made around the expenses. As you indicated in the prepared remarks, the expense improvement has been fantastic, in particular in the consumer business where operating leverage has been very strong over the last two years. I wanted to understand from your prepared remarks, you were saying that $53 billion, you've already met it and you'll retain it for the full year or may change your outlook based on how the customer demand evolves with the tax plan and within that, just wondering if you're expecting that you'll be able to generate more operating leverage, in particular in the consumer space given the groundwork you've laid in digital payments and the branch network. Brian Moynihan -- Chairman and Chief Executive Officer Sure. I think what we're saying is that, just start from the base principle, the vast majority of any increased after-tax cash flow would go to the shareholders. The question that we have to look at, Betsy, as you referenced is, is there an amount of investment that we have to make to accelerate some of the things we're doing, especially around consumer business but across all the business, accelerate -- the branch buildout in some of the cities has proved to be very successful. [Inaudible] we would do over five years, do you wanna speed it up a little bit? Or do we invest a little bit more in technology, especially to make the next major move in the markets businesses, which Tom and the team are driving at, to get, even with stable revenues, to start to drive the profit back up again, or in the treasury services business? So, the debate is, is there some amount you'd invest to help accelerate growth but it would be along the dimensions that we've been doing, and it would just improve our ability to get them done and speed it up. It would be modest, I think, is the best way to say it. Betsy Graseck -- Morgan Stanley -- Analyst OK and then on the consumer business, the operating leverage has obviously been extraordinary in the last two years. Is there more to come this year? Brian Moynihan -- Chairman and Chief Executive Officer Yea. We want to focus all of you across all the business operating leverage and they've shown good progress, the company as a whole, and each of the businesses. In consumer [Inaudible] continue to get operating leverage. They've done a great job. You see the branches are down 100 and some year over year. The digital transactions continue to go up, but there's a lot of room to go still, even though we think we've made great progress in digital, and we have, only 22% of the deposits are made digitally and about 30% are made over the counter at the branches. So as we continue to get customers to adopt these new and exciting technologies, we'll see more operating leverage but the team's done a great job there and I think they'll continue to improve it. Likewise, you're going to see some of the transformation we're doing in the wealth-management business continue to grow and Terry and Andy and Katy and the team are doing a great job. That business has grown but we need to start to drive some of the digitization techniques that we used in other business, including commercial business, into that business which you'll see, and that will help the operating leverage there. And in the commercial business, it's very efficient. So, it's very hard-fought to get much expense but even then they still have done a good job of taking the expense leverage through the changes and the underwriting ways we do business, how we underwrite -- centrally versus de-centrally and things like that. so, it'll be across the board and we expect more out of consumer. Betsy Graseck -- Morgan Stanley -- Analyst OK, thanks, and then just last question on the dividend-payout ratio. I realize that earning's up with a lower tax rate. Do you expect you'll keep that dividend-payout ratio flat or how are you thinking about the dividend and overall capital return? Brian Moynihan -- Chairman and Chief Executive Officer We basically said we're moving toward a 30% payout ratio of earnings and I think that would mathematically follow what you just laid out, the fact that if tax earnings go up, it'd be higher number. We're not quite there yet but we're pushing toward that direction. Betsy Graseck -- Morgan Stanley -- Analyst OK, thanks a lot, Brian. Operator And we can take our next question from John McDonald with Bernstein. Your line is now open. John McDonald -- Bernstein -- Analyst Hi, good morning. Brian, thanks for the comments on expenses and how you're thinking about some of the tax impacts and maybe accelerating investments. I guess, kind of just coming back to that, if we think about, you got through this $53 billion, you're kind of there now, is this a level where you feel like you could run the company and kind of have some kind of maybe just core inflation associated with the economy? Are you still reinvesting cost-saves but you're still taking out cost some places and reinvesting in other? If you think about 2019, you're beyond this $53 billion kind of where you want to be or should we think about an efficiency and ratio set of goals for the next year? Is that a better way to think about it? Brian Moynihan -- Chairman and Chief Executive Officer I think, as we said before, the key is to drive operating leverage as Betsy referenced, John, and continue to drive that across the businesses. A couple things. We've been clear that we decide the discussion about the invests on the proceeds of taxes but basically, the $53 billion was a rate that we could kind of sustain around, i.e. continuing to invest in operational improvement over time and keeping a relatively flat. And you are dealing with inflation and things like that that creep up on you. And so, we had a pretty good dynamic going and the sole question is do you want to invest a bit to speed up and that would just increase that number by a bit and then play over the next couple of years but the basic principle's to run a company relatively flat through continued investment and cost-effectiveness is still -- we've still got a lot of room ahead of us. I always come back, John, and you've followed our company closely, we will continue to have the same rigor around the way we run the company. Just because the tax rate is lower doesn't change how we're going to do it. So, we're going to keep driving that analysis that says how much can we invest in building this operational excellence campaign we're on. We just see tremendous opportunity to keep applying digitization to paper and the work and the company and continue to drive that. So some of these investments will be branches or people or salespeople, and have been, and the businesses, but on the other hand we're investing tremendously in effectiveness in the company and we'll continue to do that. John McDonald -- Bernstein -- Analyst OK. And then just for Paul on the overdraft policy, understanding the long-term franchise value of the new policy, trying to think about the near-term financial impact. Is there any kind of pull-through or continuation of drag on deposit fees that might come from the new overdraft policy or is that impact maybe fully in the fourth quarter numbers yet? Paul Donofrio -- Chief Financial Officer I would say that you're going to see that next year, if I were modeling it, you want a probably low single-digit impact. Brian Moynihan -- Chairman and Chief Executive Officer It came in partway through the fourth quarter. So a good chunk of it's in there, John, so it'd be a modest impact beyond that. John McDonald -- Bernstein -- Analyst OK, thank you. Operator We can take our next question from Steven Chubak with Nomura Instinet. Your line is now open. Steven Chubak -- Nomura Instinet -- Analyst Hi, good morning. So, I wanted to start with a question on credit outlook. Delinquency trends remain quite favorable. Brian, you noted that NPL declined both consumer and commercial. I'm just wondering how we should be thinking about the provision outlook in the coming quarters. Is it still reasonable for us to expect that to traject in line with charge-offs to maybe some upward growth as the loan portfolio continues to season, so maybe somewhere in the range of like $900 million to a billion? Is that a reasonable expectation Brian Moynihan -- Chairman and Chief Executive Officer We expect credit to continue to perform the way it performed in the first three quarters of 2017, which we would characterize as solid if not excellent. We would expect provision to roughly match net charge-offs, with reserve releases moderating over time as we continue to build allowance and support of loan growth. Those releases are being driven by non-core consumer real estate and energy. Steven Chubak -- Nomura Instinet -- Analyst OK and just one clarifying question for me on the expense side. I know that Betsy and John had already touched on this a little bit but I just wanted to clarify the guidance that you guys had actually given on the last earnings call. Brian, it was in the Q&A where you alluded to the fact that you expect expenses to be flattish in 2019. I know you're very focused on digitization and automation. I just want to confirm whether that's still a reasonable expectation. Just because it looks like most people are contemplating some expense ramp from 2018 to 2019. Brian Moynihan -- Chairman and Chief Executive Officer We'd expect that all things being equal, they would be flattish and that's what we've told you. The question is, we took a little bit of money and accelerate investments and kind of run through a couple of years and probably drop back off but it's be very modest and in the greater context. A lot of those investments get capitalized, the near-term P&L impact's different, but basically from a conceptual framework, we think we can run the company and that, below $53 billion on a consistent basis for the next couple of years with a caveat that we may look to invest part of the tax savings on top of that and well be very clear if we do that. Steven Chubak -- Nomura Instinet -- Analyst And one final one for me just regarding the remarks on the wealth-management side. Brian, you talked about efforts to invest in technology to drive improved profitability. In the past, you had alluded to a 30% margin target. I didn't know if that was still a reasonable expectation that you guys could get to. Brian Moynihan -- Chairman and Chief Executive Officer Yea, I think we're at 27 this quarter, 26-27, 26, we've been bouncing around there. It's the target to get to. I think mechanically there's some things that help us over the next couple of years in terms some stuff running off that pushes this up. So we continue to do that. What we're talking about is a more fundamental reset on a couple of things. Obviously, in the lower affluent businesses we're driving Merrill Edge and things as a more efficient platform by definition and secondly, there is a lot of paper in this business and a lot of work, even the advisors themselves, there's a lot of automation of work they do that will make it easier for them so they can become more efficient and handle more clients [Inaudible]. But if you think about the core pre-tax margin, it'll move up and we still believe we can get it up around 30 and the deposit side helps that as the arbitrage from rates goes through that business. Steven Chubak -- Nomura Instinet -- Analyst Excellent. Thanks for taking my questions. Operator And our next question comes from Glenn Schorr with Evercore ISI. Your line is now open. Glenn Schorr -- Evercore ISI -- Analyst Hi, thank you. Hopefully, this is simple and I know you can't talk for the regulators but all else equal, have you thought through how the tax act might impact the CCAR process, meaning I see just a lot higher PP&R and it shouldn't impact anything else in a vacuum but just curious if I'm missing something there. Brian Moynihan -- Chairman and Chief Executive Officer I don't think you're missing anything. I think all companies, all banks are going to keep more of what they earn. That's going to increase our profits. So, we're going to be in a better position to return more capital to shareholders in the form of dividends and buybacks. Glenn Schorr -- Evercore ISI -- Analyst And then just switching over to wealth management, a couple of little questions. No. 1, where's all the growth coming from, meaning you noted the strong flows. Curious what's current versus new clients. And you also noted advisors are up 3%. Is that training or is that recruiting? Just curious. Paul Donofrio -- Chief Financial Officer Look, the FA reflects really our continued investment in the training program. Some experienced hires offset by sort of the normal kind of attrition which has been very low particularly in competitive losses. Brian Moynihan -- Chairman and Chief Executive Officer Paul, just remember, just to be clear, we have changed our recruiting. We announced that six months ago where we had been recruiting in sort of the traditional way. So, most of the growth is coming through our advisor-training platform, which we consolidated between the people who work in a branch and the people who work in the Merrill office. They're brought under one big training program, again, for effectiveness and we think there's great prospects for that. It will take a few years for that to play out, obviously. Paul Donofrio -- Chief Financial Officer So as you think about the numbers, it's just AUM growth, which is being driven by market levels, being driven by increased flows. It's being driven by some new households and we're very focused on that. That's offset by a little bit of spread compression and decline in transactional revenues that we've been seeing now for a couple of years. Glenn Schorr -- Evercore ISI -- Analyst OK, last follow up, if I could. Your decision to stay in protocol is a little different than a handful of the large peers. Just curious, your thought process and experience so far. Brian Moynihan -- Chairman and Chief Executive Officer The experience so far has been relatively modest in terms of anything. People have been changing their opinions, but we continue to monitor the market, we figure out what we want to do but we haven't changed our position yet. Glenn Schorr -- Evercore ISI -- Analyst OK, thank you. Operator And we will take our next question from Matt O'Connor with Deutsche Bank. Your line is now open. Matt O'Connor -- Deutsche Bank -- Analyst Good morning. I was hoping to follow up on the outlook for net-interest income for the full year. You mentioned some of the drags from the card business. I guess in the grand scheme of things, it doesn't seem like a $500 million drag from card is really that material. Obviously, you had good [Inaudible] growth year over year. So, just trying to get a little better sense of maybe the magnitude of [Inaudible] that you're looking for. And then if you want to give us the bond premium amortization, how much benefit that was this year versus last, that might be helpful. Brian Moynihan -- Chairman and Chief Executive Officer Look, we expect solid NII growth in 2018 from continued sort of NIM expansion as well as loan and deposit growth. I think the size of the increase is going to depend upon the amount of loan growth and [Inaudible] rate increasing along the forward curve, and obviously our ability to manage deposit rate paid. With respect the bond premiums, what I would point out was that in 2017 we got a benefit of approximately $700 million from lower bond amortization driven by slower prepayments as long-end rates moved up at the end of 2016. So, you really can't expect that to repeat itself this year given that that curve is not linear, it's convex, and we've already had a big increase in rates. So, we're not going to get the same decline in the future of prepayment speeds. You noted and I would also note that 2017 included half of UK Card and then you've gotta factor in FTE but all that said, we feel good about 2018 NII growth. We think it's gonna be solid. It's going to be back to basics growing loans, growing deposits, managing deposit rate paid well. Matt O'Connor -- Deutsche Bank -- Analyst Ok, it's helpful. And then just separately on the retail deposit side, you mentioned essentially no repricing there and it's consistent, I think, with what we're seeing for most of your big peers but just wondering what your thoughts are in terms of when there does start being a little bit of upward pressure, there, and being the biggest deposit player, you might be one of the kind of setters in the price there as we think about rates going forward. Paul Donofrio -- Chief Financial Officer I'm not sure how helpful I'm going to be to you. I would just make a couple of points that we've made many times. The industry really hasn't seen on the retail side deposit rates increase sort of much or at all on traditional counts and I think it's important just to remind everybody that Bank of America delivers a lot of value to depositors. You've got transparency, convenience, safety, mobile banking, nationwide network, advice and counsel. I think all of this plus a lack of market pressure so far has kept deposit rates relatively low. You've seen rates rising in [Inaudible] and global banking. Look, at some point rates are going to rise and my guess is we're getting close to that point, given the expected Fed fund rate hikes here in 2018. We just don't know though. What all I can tell you is that we're going to balance our customer needs and we're going to balance the competitive marketplace with our shareholders' interest and we're going to do the right thing for all the parties. Brian Moynihan -- Chairman and Chief Executive Officer I'll just add a couple of things. One, the pricing strategy in consumer's largely driven on depth of relationship. So, as we look at pricing tiers and how we do it and set by market, set by product, set by customer type and relationship, the rewards programs that reward deposit balance along with lower rates on loans and other types of things, it's an integrated business and a lot of people focus on the one aspect of it and try to isolate it but it's actually a very integrated business. But to give you a couple other things, what holds us down is, as you look at deposits year over year and consumer up $47 billion, the checking, which is always going to be very low, it was up $30 billion of the $47 billion, or $29 billion of the $37 billion and CDs are down $4 billion again. So, even we've run off CDs. So, that dynamic is always going to lead to an all-in deposit price for basis points that looks lower, but it's the quality of the checking, franchise and core franchise we have. I think we had the average checking balance in consumer reach $7,000 this quarter. They're all prime core-transaction accounts for the household, which means the paycheck's coming in and that's what's driving the overall structure of the business and will continue to do so. Matt O'Connor -- Deutsche Bank -- Analyst OK, thank you very much. Operator And we will take our next question from Mike Mayo with Wells Fargo. Your line is now open. Mike Mayo -- Wells Fargo -- Analyst Hi. What is your total technology spending, say, for 2017? How did that compare to 2016? Where do you expect that to be for 2018? Paul Donofrio -- Chief Financial Officer Well, to be comparable, you have to understand what the components are but the component most people focus on is what we call technology initiatives or coded programming. That's about $2.7 billion and relatively flat. Mike Mayo -- Wells Fargo -- Analyst Relatively flat for 2016 and 2017. What about for 2018? Paul Donofrio -- Chief Financial Officer Relatively flat for 2017 and 2018. We are getting, even the way the program, a little bit of efficiency, the nominal number for 2017 [Inaudible] higher than that and the number for '18 will be lower than that but it's largely getting the same amount of work done for a little less efficiency, a little less cost per dollar per programming unit, for lack of a better term. So, that's been fairly constant across time and we continue to evaluate that level of spending at all times. Mike Mayo -- Wells Fargo -- Analyst So, going back to Slide 12 for the consumer banking digital trends, are you spending more money in those areas as you get more traction? I mean, you see 23% of mobile deposit transactions that are digital. I mean, where do you want to take that 23% number and do you need to spend more to get there? Paul Donofrio -- Chief Financial Officer Well, I think when you talk about technology, yea, the consumer bankers benefit by a lot of technology spending across a lot of dimensions including the way we distribute the environment to the branches, use of tablet type technology in our branches to interface with customers, better call center technology. It is a tremendous investment in the consumer. On the digital side, specifically we will travel with the customer and we're getting the customers to understand the value of instead of going to ATM to deposit a check, do it with their phone, or instead of going to a branch to deposit, do it with their phone but we can't get ahead of them. We have to walk with them and help them do it and help them grow and that 23% number from three or four years ago as you see on the page, Mike, that 12%, it's a meaningful amount. It's about 1,000 branches of activity go through the phone. So, we'll continue to drive that but I think, yes, we've invested but it's not necessarily what we've invested this year, it's the $1 billion we've probably invested in mobile technology over the last five, six years to get us here that now we're taking advantage of. And then, as you know, [Inaudible] comes out, the Merrill Edge capabilities continue to improve to help in the [Inaudible] America. So, there's a lot of stuff behind it. So, think about the spending of $2.5 billion to $3 billion in technology, think of us having done that for a long time and think of some of those benefits now coming through. So, it's not like we have to accelerate spending to get the mobile behavior. It's actually a change in customer behavior, which is less about the technology. It's more about getting the customer to move their behavior. Mike Mayo -- Wells Fargo -- Analyst You guys have said take a look at all these trends collectively on Slide 12 but don't look at one in isolation. So, what sort of metric should we monitor externally to gauge your progress? Would it be, for example, the consumer banking efficiency ratio or is there one all-encompassing number or how would you suggest that we think about this? Paul Donofrio -- Chief Financial Officer Well, I think the efficiency ratio, when the team tells me that they have it down to 50 and they're gonna get below 50, and they take great solace in that, I tell them "Don't take great solace in that because we don't know how low it could go" but the one I think I'd argue is that we've always looked at is if you look on Page 10, Mike, the average cost of deposits. If you take the entirety of running this system as a percent of deposit which you can benchmark equal relatively clearly in the industry, you'll see that we run about 160 basis points -- that's the phones, the mobile, the technology, people, and all that stuff against the deposit base. That has come down over the last seven, eight years from 300 basis points to 161 basis points. That is a simple way for people to think of the impact of all this transformation activity in your effectiveness and efficiency in the business. Also, you wouldn't want to do this if your customer scores are suffering during that timeframe. The customer scores have risen, as Paul said earlier, to record heights. You can't get ahead of the customer and you can't push the customer do something that they don't want to do. Hence the challenge is to keep that cost efficiency at 161 basis points to be the benchmark while improving customer experience. Brian Moynihan -- Chairman and Chief Executive Officer And, Mike, [Inaudible] you got to focus on operating leverage. That's a key thing that we're looking at all the time and holding people accountable to in addition to efficiency and then all the other individual metrics across mobile adoption and digital sales. Mike Mayo -- Wells Fargo -- Analyst Last follow-up just on that last point, Brian. A lot of investors have voiced concern that the internet digital banking will be the demise of the deposit, that deposits will flee more quickly. What's your short answer to that concern? Brian Moynihan -- Chairman and Chief Executive Officer I think year over year the consumer business grew $47 billion over, again, deposit growth. I think that sort of speaks for itself, Mike. Mike Mayo -- Wells Fargo -- Analyst All right, thanks. Operator And we will take our next question from Ken Usdin with Jefferies. Your line is open. Ken Usdin -- Jefferies -- Analyst Thanks, good morning. If I could follow up on the loan side, 6% year over year in core business, pretty decent rate and you're seeing growth across. Just wondering what are your expectations for loan growth as you look out, and in a bigger sense any sense of just movement in commercial and corporate America in terms of starting to think about investing more in their businesses? Paul Donofrio -- Chief Financial Officer We feel really good about loan growth. Clearly, tax reform is going to make businesses and individuals have more money in their pocket and we think that's going to stimulate economic activity. We think the tax reform has made America stronger, there's been more investment there because we've leveled the playing field. So, medium, long term, even short term I think we're very optimistic about loan growth with a slight caveat that people are repatriating some funds. So, we're going to see what effect there is in the short term really on large corporate international kind of borrowers. At a more detailed level, we feel like we've been growing well in mortgage and we're going to [Inaudible] that's going to be offset by home equity run-off, card's been growing well in the fourth quarter. I would note that seasonally card balance is usually done in the first quarter. Auto has been growing strongly historically. That's going to soften or has softened. Again, I would remind everybody that we are focused on prime and super-prime and we didn't follow the market out to extended the durations but we're still holding our own there and expect slight modest growth next year. And on the commercial side, we've been growing loans at mid-single digits and, again, subject to what happens with repatriated funds here in the short term, I don't see any reason to change our expectations around loan growth. Ken Usdin -- Jefferies -- Analyst Paul, is there any change in the rate of run-off in the all-other bucket from that $71 billion bucket? How fast are you expecting that to still run off? Paul Donofrio -- Chief Financial Officer The way I'd characterize it going forward is it's going to run off sort of four to five to six per quarter, call it five. Ken Usdin -- Jefferies -- Analyst OK, one quick one. Mortgage is a small line but it had a big swing, $300 million to a negative, especially that other line. Can you just talk us through what the couple hundred million-dollar negative was in the other part of mortgage and if that's recurring or just a one-time thing? Paul Donofrio -- Chief Financial Officer Yea, sure. You're talking about the MBI one, right? Ken Usdin -- Jefferies -- Analyst Yes. Paul Donofrio -- Chief Financial Officer So, we had [Inaudible] warranty provision of approximately $200 million to resolve some claims. If you exclude that and you look quarter over quarter, the decline in mortgage banking income reflected lower production volume in a small mortgage market as well as lower servicing income. As the size of that portfolio continues to decline, keep in mind that mortgage banking income line is just simply becoming less relevant since we are now retaining 90% of our originations on the balance sheet. And coming back to the [Inaudible] warranty of $200 million to resolve a claim, if you take a look at the litigation line this quarter, it was a little bit lower than normal. So, we're resolving claims. Sometimes they show up on litigation. Sometimes they show up on [Inaudible] warranty but there's a little bit of geography there. Ken Usdin -- Jefferies -- Analyst Got it. All right, thanks a lot, Paul. Operator And we will take our next question from Saul Martinez with UBS. Your line is open. Saul Martinez -- UBS -- Analyst Hi, thank you. Saul Martinez. A couple of questions. I just wanted to go back, Brian, to the comments on your ROTCE and your ROA targets obviously with the bump from tax reform, you hit and you exceed the 12% and the 1% target that you previously laid out but as you go forward, you benefit from the lower tax rate, you sort of right-size your efficiency, get to the $53 billion and drive positive operating leverage from there, rates normalize. Not to put words in your mouth but it seems like it's pretty easy to get to sort of to the mid- to high-teen ROTCE and ROAs well in excess of 1 but do you have a view on where you think your ROTCE can get to over the next couple of years and where ROAs can get to over the next couple of years if things progress as you think they might? Brian Moynihan -- Chairman and Chief Executive Officer I think that you in your question sort of state it for yourself, which is yes, there will be a mathematical bump that will make it, quote, easy to get there. That's at 12% and you're running right around that now but what we were trying to say earlier is we don't look at 12% as being "Gee, we made it. Now let's stop." The answer is we'll drive that number as high as we can, driving responsible growth, and as we start to get rid of more of equity, then we earn because we have access to equity that'll help. We can continue to improve the earnings that'll help us drive operating leverage and all the things you cited will help. So, we're going to do it on a sustainable basis. So, the point was when we talked about those targets, we were probably running around 8% or something like that. And so, we said we had to pass over a couple of years to get as close to 12% and 1% ROA at the time and we've made it there and it'd be easier by tax reform but that doesn't mean we're stopping. We will just drive this company the same way and it'll come out be higher now and we'll see those levels and expect to continue to exceed. Saul Martinez -- UBS -- Analyst OK, fair enough. I guess just to follow up and it's, I guess, maybe a little bit more of a philosophical question. So, Larry [Inaudible], as you know, sent a letter indicating that management should look not only at maximizing profitability and returns for shareholders but at the social impact of their actions, and I think for good reasons you guys take pride in being a good corporate citizen but I'm curious if you have any thoughts on that and whether you think there is a trade-off between maximizing profitability and doing good for society and other stakeholders? And with the tax windfall, do you feel like maybe there will be greater pressure to invest in things or to provide products or take actions that you may not have taken if tax reform hadn't happened? Paul Donofrio -- Chief Financial Officer I don't think it'll change the way we run the company. We've been running it on a responsible growth with the four elements: that it grow, no excuses; that it do it on a customer-focused organic basis; gotta do with the right risk; and gotta be sustainable, along the best place for people to work, share our success with our communities and drive the operational excellence. That format won't change. So, what Larry wrote about and what we've been working on for years, the idea of ESG and those types of things as part of our sustainable, part of our sharing success with communities. This is not new for banking. I mean, it goes back to -- Our banks, all those legacy banks that came together, all were formed to help communities grow. So, we had a long history in investing because we're if already successful, the economies in the communities, we do business in are successful. So, I don't think it's a major change in our industry, frankly, $200 million charitable giving, 2 million volunteer hours, billions of dollars of low and moderate housing [Inaudible] earnings, $1 billion plus out to the CDFIs. We can rattle off all the stuff, $100 million [Inaudible] commitment we're halfway through. These are things we were doing long before tax reform came and we'll do when tax reform goes away some day or something else changes. These are things that make this company great and, as you said, it's a philosophical viewpoint but also the public role of banking is just a little bit different. Saul Martinez -- UBS -- Analyst OK, great. Thanks a lot. I appreciate the answers. Operator And we can take our next question from Marty Mosby with Vining Sparks. Your line is now open. Marty Mosby -- Vining Sparks -- Analyst Thank you. Wanted to drill into the expenses just a little bit to get some clarity. It seems like there was two, kind of, not unusual but kind of standout -- $200 million worth of compensation that would have been in the first quarter now's accelerated into the fourth quarter. And then, Brian, you were talking to $200 million of the charitable foundation and the extra bonus payments. Just want to make sure those were two separate items and that those numbers were correct. Brian Moynihan -- Chairman and Chief Executive Officer Marty, I think we've got a little confused. So, in the fourth quarter in the $13.3 billion of expenses, there's about $145 million, $150 million of a one-time $1,000 bonus to people under $150,000 in our company plus we accelerated $50 million of charitable donations in the fourth quarter '17. That's the $200 million. That's what we're talking about. So, the $13.3 becomes $13.1 if you back up those two items and then do the math, multiply it times four. The acceleration, I assume what you're talking about there is change to FAS123 which is that, a simple way to think of it, if we used to take a billion in the first quarter, now we take 250 per quarter, it moves around a little bit that's a phenomenon we announced earlier this quarter, last quarter we're going to take. So, that number is in that $13.3 also, the 250 for that. It's not acceleration. It used to be done all at once in one quarter. Now, we spread it across four quarters. Paul Donofrio -- Chief Financial Officer We made that change in the fourth quarter. So, you're seeing it in the fourth-quarter numbers. Brian Moynihan -- Chairman and Chief Executive Officer And the earlier number's been restated, so the relative difference year over year is the same. Does that help, Marty? Make sure I got your question -- Marty Mosby -- Vining Sparks -- Analyst [Inaudible] make sure those were two separate items and that reconciles where I was getting. And then, if you look at the securities portfolio, you had two things kind of popped up. One, you took just a very modest or slight loss in security sales. Also your ALCI, you had that OCI adjustment, those rates went higher that you mentioned earlier. Will you be actively restructuring because it does kind of drop to capital anyway in taking those losses as you have the opportunity to kind of round up earnings? Just curious how aggressive you wanted to be kind of in that push. Paul Donofrio -- Chief Financial Officer The short answer is no, we're not in any way restructuring our securities portfolio. There was a very modest -- nice find, there -- $23 million loss on some securities we sold in the fourth quarter. That was basically just some legacy stuff we got to a nice price, that affects our CCAR results and we wanted to get rid of it, so we think that's a good trade-off. Brian Moynihan -- Chairman and Chief Executive Officer It wasn't related, Marty, to the core sort of way we invest the excess deposit proceeds in a given quarter. This is legacy stuff we're just trying to clean out. Marty Mosby -- Vining Sparks -- Analyst One of the things we're anticipating is that banks can actually accelerate the benefit as we do get uptick on the back end of the curve by doing some of that aggressive restructuring. So, just was curious if you have been kind of thinking about or kind of looking in that direction. Brian Moynihan -- Chairman and Chief Executive Officer We feel look really good where we are in terms of our securities portfolio. Paul Donofrio -- Chief Financial Officer And, Marty, always remember the reason why we have the securities portfolio is because we have that deposit franchise growing $40 billion to $50 billion year over year, loans growth at a more modest rate specially due to the run-off. So, you just have to put the money to work and we put it into an investment portfolio to extract that value of that great deposit franchise. Brian Moynihan -- Chairman and Chief Executive Officer Yea, remember we're only putting them in treasuries, mortgage-backed securities, or cash. We have a very high-quality securities portfolio. Paul Donofrio -- Chief Financial Officer Operator, do we have another question? Operator Certainly. We'll move to the next question. It comes from Gerard Cassidy with RBC. Your line is now open. Gerard Cassidy -- RBC -- Analyst Thank you. Hi, Brian. Brian Moynihan -- Chairman and Chief Executive Officer Morning, Gerard. How are you? Gerard Cassidy -- RBC -- Analyst Good, thank you. Your fourth-quarter results were good and the outlook looks quite good for you folks as well as your peers. Can you share with us what risks you're kind of looking out for on the horizon? Obviously, again, things are looking very good for you folks and we always have to watch out from left field for some type of risk. Anything that you can identify that you guys are just keeping an eye on? Brian Moynihan -- Chairman and Chief Executive Officer Yea, I think, Gerard, obviously we're afraid of horribles that you can go through whether it's geopolitical risk, whether it's markets, changing risk, whether it's credit risk because unemployment levels rise. They're all going to come back. This economy's gonna keep moving along, even accelerate or decline and we don't see a lot of risk in that but we do watch those risks. How we avoid them is not what we're doing today. In fact, it's what we've been doing over years to stay in a high prime quality and consumer business, balancing the consumer business versus commercial exposure, maintain our tough discipline in commercial credit and the situation this quarter obviously is always a wakeup call that some things don't turn out well, and we gotta back, and what are the lessons learned and what we did we do right or wrong in that and how do we avoid that in the future. And the team has spent significant time doing that. We weren't happy with it from the top of the house through to the actual people who were involved in it but even with that, the credit cards year over year were relatively flat and the team's going to adjust. So, when we think about all those risks and [Inaudible], you know the list as well as I do. The question is how do you balance and how do you keep yourself ahead of those so that you won't be immune from them but they will impact our company. That is what we define as responsible growth, quite frankly. Gerard Cassidy -- RBC -- Analyst OK, thank you. And then you guys mentioned that your commercial customers were optimistic about the future. Can you share with us in the investment bank what the pipeline looks like at the end of the fourth quarter coming into '18? And then second, within the investment banking division, I think you mentioned you hired 400 bankers, what sectors are you really doing well and is it healthcare, technology, financial? Brian Moynihan -- Chairman and Chief Executive Officer Those bankers are in the commercial banking segment. So, they're middle market and [Inaudible] bank, just to be clear. They are successful but they're across all industries. Paul, why don't you talk about -- Paul Donofrio -- Chief Financial Officer Sure. The investment banking pipeline, end of the year, lower than Q3, mainly due to the completion of some large transactions in Q4 combined with the postponement or cancellation of some other large transactions. Having said that, again, I think we're very optimistic about 2018 given the tax act which, again, has leveled the playing field here. And we think companies are going to be interested in more M&A transactions and ultimately they're going to be investing and raising capital. So, down a little bit but that's kind of normal for cleanup at the year-end. Your other question regarding sector, we're No. 3 globally and when you look across all of our entity groups, we are plus or minus around that range pretty consistently. We obviously have a couple of groups that are strong than others but we feel like there are no weak spots in investment banking and all the groups are very strong. Brian Moynihan -- Chairman and Chief Executive Officer Gerard, one thing I thought you were going to go to was what do consumers feel. It was interesting that the spending for the full-year '17 whether it's credit cards, debit cards, ACH, wires, payment of bills, cash out of ATMs, over the teller line, checks written, was as 6% growth over '16 and '16 to '15 was a little under 3%. So the consumers are feeling pretty good and spending very strongly out there and it is broader than just the credit and debit card spending. That is up 6% to 7%, as Paul said earlier, but it's the broader use of cash which shows that consumers are putting money out there and spending on things. So, we feel good about the consumer side and the month of December was faster than the year in terms of the growth rate of 7% versus 6%. Gerard Cassidy -- RBC -- Analyst That's a real good insight. And then just lastly, I think you talked about getting the dividend-payout ratio to 30% and I recognized that this is a board of directors' decision. If the regulators give the green light to the [Inaudible] banks that 40% dividend payout ratios are OK, philosophically, how do you think about that if, again, the green light is given by the regulators? Paul Donofrio -- Chief Financial Officer I think we'll have to think about that when we get there. I'm not sure for [Inaudible] largest banks are not going to always be a little more circumspect or whatever the right word would be in terms of governing our dividend. They just don't want us to ever have to cut our dividends and as you do, look at it mathematically across time periods. The idea of us [Inaudible] 70% of our earnings, therefore being able to pay for the dividend is a very low probability and that's where they came up with that number and I think we'll see how it plays out. I don't know what they'll do but our strategy inside the company is to continue to move up the dividend on a rational basis along with the earnings and get it close to that number. Gerard Cassidy -- RBC -- Analyst Great, appreciate it. Thank you again. Operator And our next question comes from Vivek Juneja with JP Morgan. Your line is open. Vivek Juneja -- JP Morgan -- Analyst Hi. I have a couple of questions for you folks. Paul, you've mentioned that NII, you did some puts and takes. Just want to tie them all together. Net-net, I recognize that they can't issue in Q1, would you expect some growth going from Q4 to Q1 given the December rate hike even adjusting for the [Inaudible]? Paul Donofrio -- Chief Financial Officer I think it's too early to give you that sort of guidance. I've given you everything that I want to give you at this point. Again, we got two fewer days, we've got the card loans, which is usually a bit lower. You have to get rid of the FTE, I don't know how you look at it. And remember that at the end of Q4 there was a run-up in LIBOR in anticipation of the rate increase. So, we got some of that benefit in Q4. It's really just going to depend on loan and deposit growth and what happens on deposit pricing. That's why I'm not really willing to tell you higher or lower because I just don't know how deposit pricing's going to play out over the quarter. Vivek Juneja -- JP Morgan -- Analyst OK, thanks on that one. Brian, a question for you. One of your peers set a goal of 2% of net income for corporate philanthropy. Are you thinking of setting anything like that? Brian Moynihan -- Chairman and Chief Executive Officer We have what you call [Inaudible] charity. We've kept our levels consistent from before the crisis now about $175 million to $200 million a year as we expect to keep it there. In addition to that, we do tremendous volunteer work 2 million hours a year and other things. We feel comfortable at that level. I haven't even done the math lately, but I think that's 1% after-tax at this point but our view is that we can have a lot of impact there and it ebbs and flows depending on what's going on at the moment but I don't expect this to change dramatically. Vivek Juneja -- JP Morgan -- Analyst OK, thank you. Operator And we will take our final question from Brian Kleinhanzl with KBW. Your line is open. Brian Kleinhanzl -- KBW -- Analyst Thanks. I know you don't want to give a commentary about deposit betas in the quarter and all that, but what's the ability that you have to remix [Inaudible] up to 125%, so to the extent that you don't want to get as competitive on deposit rates, I mean is there still plenty of opportunity to remix from short-term into loans? Paul Donofrio -- Chief Financial Officer On deposits, it's a very sophisticated question of how you price. We price literally by every market, by every product, by different customer sets. So, as Paul mentioned earlier, in the wealth-management business we moved pricing up because people with $10 million in investment assets with us, obviously the cash in their accounts is an investment asset as opposed to in the retail business, it'd be their household daily flow. So, it's a very sophisticated question and you're seeing us work that question across time and you saw us raise rates in the wealth-management business. Consumer business rates raised, albeit slower. The corporate business responds a little bit more instantaneously, but it's a methodology for paying for services. So, it's a very complex thing. So, it's hard to sort of give you a single answer and when we model, we use a number but frankly, we've done better than that model every single quarter but we have to be conservative on our modeling for NII and other purposes. Brian Kleinhanzl -- KBW -- Analyst OK. And then just one follow-up on the expenses in 2019. I mean, is there a big opportunity to do investments? I know you said you would give further details later on as you looked across, maybe pull forward some investments and lower expenses, but it seems like if you were to go on some kind of accelerated investment, maybe there would be a chance to get below that $53 billion in expenses in 2019. I mean, that's a possibility, something you're actively pursuing? Brian Moynihan -- Chairman and Chief Executive Officer Our job, what we told you guys, was when we get to $53 billion for '18, be relatively flat, thereon absorbing 6% medical care, cost increases, raises, and things like that, and that comes through ability to continue investment effectiveness and efficiency. So, that's an operating strategy level on the exact number that we're focused on and we continue to focus on that. So, there's no change to that. The question would be, do you want to accelerate some investments given the higher after-tax yield and we will look at it. As I said, we will look at it across time. You have to be able to get the value of those investments. As one of the callers' questions referenced a little bit earlier, we added 400 commercial bankers. We have to make sure if we added 400 more tomorrow, you might not be able to get them to speed. So, you have to make sure that coming in and use techniques to divide the portfolio to give them deeper client penetration to get the products per customer up. That takes time. You just can't snap your fingers. So, the ability to accelerate those investments are largely based on what we think we can do that will be modest in the sense that even if a fair increase at the margin is not a big number in the overall scheme of things at the $53 billion expense level. Any other day our challenge is to drive operating leverage and we continue to do that, we've done 12 quarters in a row and we will continue to do that going forward and that's good for our shareholders. Brian Kleinhanzl -- KBW -- Analyst OK, thanks. Operator This does conclude the Q&A session. I'll turn it back over to our presenters for any additional comments. Duration: 93 minutes Call Participants: Lee McEntire -- Senior Vice President of Investor Relations Brian Moynihan -- Chairman and Chief Executive Officer Paul Donofrio -- Chief Financial Officer Betsy Graseck -- Morgan Stanley -- Analyst John McDonald -- Bernstein -- Analyst Steven Chubak -- Nomura Instinet -- Analyst Glenn Schorr -- Evercore ISI -- Analyst Matt O'Connor -- Deutsche Bank -- Analyst Mike Mayo -- Wells Fargo -- Analyst Ken Usdin -- Jefferies -- Analyst Saul Martinez -- UBS -- Analyst Marty Mosby -- Vining Sparks -- Analyst Gerard Cassidy -- RBC -- Analyst Vivek Juneja -- JP Morgan -- Analyst Brian Kleinhanzl -- KBW -- Analyst More BAC analysis This article is a transcript of this conference call produced for The Motley Fool. While we strive for our Foolish Best, there may be errors, omissions, or inaccuracies in this transcript. As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy . || These 13 Banks Got the Fewest Complaints. Did Yours Make the Cut?: All banks are not created equal. Some bend over backward to help their customers, some are impersonal and hard to deal with, and some are downright predatory. Fortunately, there are records of the complaints consumers make against banks, and they can help steer us toward banks that are more customer-friendly. Here are the results of a recent look at major banks and which ones received the fewest (and most) complaints. bank teller smiling at customer who has wallet in hand Image source: Getty Images. The banks with the most and least complaints You may be familiar with the Consumer Financial Protection Bureau (CFPB), which was created in 2010 by President Obama after being proposed by Senator Elizabeth Warren (before she was a senator). Its mission is to advocate for consumer rights and push for consumer-friendly legislation. The agency's future is uncertain these days, with some in Washington in favor of eliminating it entirely, but for now it is still the repository of myriad consumer complaints about financial institutions. The complaints varied widely and related to a broad range of banking products and services, such as checking and savings accounts, student loans, virtual currencies, credit cards, credit reporting, mortgages, money transfers, vehicle loans, and much more. The folks at LendEDU recently studied more than 200,000 complaints from 2017 in the CFPB's Consumer Complaint Database and ranked 57 national and regional banks by how many complaints they had received. Here are the 13 that had no complaints: Financial Institution Total Deposits SVB Financial Group (Silicon Valley Bank) $44.8 billion Signature Bank $33.7 billion Wintrust Financial Corporation $22.9 billion Hancock Holding Co. (Whitney Bank) $21.5 billion Texas Capital Bancshares $19.1 billion Pinnacle Financial Partners (Pinnacle Bank) $15.8 billion Hope Bancorp (Bank of Hope) $11.0 billion Home BancShares (Centennial Bank) $10.4 billion United Community Banks $9.1 billion Community Bank System $8.6 billion Columbia Banking System $8.3 billion Glacier Bancorp $7.8 billion CVB Financial Group (Citizens Business Bank) $6.6 billion Source: LendEDU.com. That's the "nice" list. So which banks are on the "naughty" list? The table below lists the top 10 offenders. They're ranked by complaints per $1 billion of deposits, because the biggest banks naturally receive the highest volume of complaints, even if the majority of their customers are happy. Rank Financial Institution Number of Complaints Total Deposits Complaints per $1 Billion in Deposits 1 TCF Financial (TCF National Bank) 246 $18.1 billion 13.59 2 SunTrust Banks 1,159 $162.7 billion 7.12 3 Citizens Financial Group 782 $113.2 billion 6.91 4 Fifth Third Bancorp 698 $101.5 billion 6.88 5 Citigroup 6,600 $964.0 billion 6.85 6 U.S. Bancorp 2,338 $342.6 billion 6.82 7 Comerica 380 $57.8 billion 6.57 8 Wells Fargo 8,465 $1.3 trillion 6.48 9 KeyCorp 670 $103.4 billion 6.48 10 Bank of America 8,069 $1.3 trillion 6.28 Source: LendEDU.com. Story continues One thing you might notice is that the banks without complaints tend to be smaller ones. The largest one with no complaint is smaller than all but one of the top 10 offenders. The banks with the most complaints include many of the biggest banks in the U.S., such as Citigroup, Wells Fargo, and Bank of America. Note, however, that all three of those did improve their standing on the list between 2016 and 2017. The largest offender, TCF Financial, had nearly twice the number of complaints per $1 billion in deposits as the No. 2 bank, SunTrust. It's the smallest bank by far on the list, making it clear that a small size doesn't guarantee customer satisfaction. What to do You needn't close out your bank account if it's on the baddie list, but you should pay attention to the service you're getting. If you're not happy with your bank, switching to a different one is worth considering. Consider smaller local banks, as well as credit unions. Here are some things to look for when seeking the best bank or credit union for your needs: Low fees or no fees. Banks make billions by charging you fees, many of which, including overdraft and ATM fees, can be avoided. Some banks charge monthly account "maintenance" fees, which you can avoid by direct-depositing a certain number of checks per month or by maintaining a certain minimum account balance. Generous interest rates. We're in an environment of ultra-low interest rates, but that seems to be changing. So compare rates of any banks your considering and favor ones with higher rates. If interest rates are meaningfully higher in a few years, you'll benefit. Credit unions tend to have higher rates than for-profit banks, and online-only banks (ones with no brick-and-mortar locations) also often have higher rates, as they don't have branches to staff and maintain. Access to a broad network of free-to-use ATMs. If you use ATMs a lot, you don't want to be charged for the privilege of accessing your money just because you're not near one of your bank's branches. Mobile and/or Web banking. These days, many of us do a lot of our banking online, including paying bills and even depositing checks. If that's a valuable feature for you, make sure any bank you're considering has robust online services. It's a good idea to review your bank's offerings and compare them with other banks, even if you're not annoyed with your bank. You never know -- you may be even happier with another bank. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Selena Maranjian has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy . View comments || These 13 Banks Got the Fewest Complaints. Did Yours Make the Cut?: All banks are not created equal. Some bend over backward to help their customers, some are impersonal and hard to deal with, and some are downright predatory. Fortunately, there are records of the complaints consumers make against banks, and they can help steer us toward banks that are more customer-friendly.
Here are the results of a recent look at major banks and which ones received the fewest (and most) complaints.
Image source: Getty Images.
You may be familiar with the Consumer Financial Protection Bureau (CFPB), which was created in 2010 by President Obama after being proposed by Senator Elizabeth Warren (before she was a senator). Its mission is to advocate for consumer rights and push for consumer-friendly legislation.
The agency's future is uncertain these days, with some in Washington in favor of eliminating it entirely, but for now it is still the repository of myriad consumer complaints about financial institutions. The complaints varied widely and related to a broad range of banking products and services, such as checking and savings accounts, student loans, virtual currencies, credit cards, credit reporting, mortgages, money transfers, vehicle loans, and much more.
The folks at LendEDU recentlystudiedmore than 200,000 complaints from 2017 in the CFPB's Consumer Complaint Database and ranked 57 national and regional banks by how many complaints they had received.
Here are the 13 that had no complaints:
[{"Financial Institution": "SVB Financial Group (Silicon Valley Bank)", "Total Deposits": "$44.8 billion"}, {"Financial Institution": "Signature Bank", "Total Deposits": "$33.7 billion"}, {"Financial Institution": "Wintrust Financial Corporation", "Total Deposits": "$22.9 billion"}, {"Financial Institution": "Hancock Holding Co. (Whitney Bank)", "Total Deposits": "$21.5 billion"}, {"Financial Institution": "Texas Capital Bancshares", "Total Deposits": "$19.1 billion"}, {"Financial Institution": "Pinnacle Financial Partners (Pinnacle Bank)", "Total Deposits": "$15.8 billion"}, {"Financial Institution": "Hope Bancorp (Bank of Hope)", "Total Deposits": "$11.0 billion"}, {"Financial Institution": "Home BancShares (Centennial Bank)", "Total Deposits": "$10.4 billion"}, {"Financial Institution": "United Community Banks", "Total Deposits": "$9.1 billion"}, {"Financial Institution": "Community Bank System", "Total Deposits": "$8.6 billion"}, {"Financial Institution": "Columbia Banking System", "Total Deposits": "$8.3 billion"}, {"Financial Institution": "Glacier Bancorp", "Total Deposits": "$7.8 billion"}, {"Financial Institution": "CVB Financial Group (Citizens Business Bank)", "Total Deposits": "$6.6 billion"}]
Source: LendEDU.com.
That's the "nice" list. So which banks are on the "naughty" list? The table below lists the top 10 offenders. They're ranked by complaints per $1 billion of deposits, because the biggest banks naturally receive the highest volume of complaints, even if the majority of their customers are happy.
[{"Rank": "1", "Financial Institution": "TCF Financial (TCF National Bank)", "Number of Complaints": "246", "Total Deposits": "$18.1 billion", "Complaints per $1 Billion in Deposits": "13.59"}, {"Rank": "2", "Financial Institution": "SunTrust Banks", "Number of Complaints": "1,159", "Total Deposits": "$162.7 billion", "Complaints per $1 Billion in Deposits": "7.12"}, {"Rank": "3", "Financial Institution": "Citizens Financial Group", "Number of Complaints": "782", "Total Deposits": "$113.2 billion", "Complaints per $1 Billion in Deposits": "6.91"}, {"Rank": "4", "Financial Institution": "Fifth Third Bancorp", "Number of Complaints": "698", "Total Deposits": "$101.5 billion", "Complaints per $1 Billion in Deposits": "6.88"}, {"Rank": "5", "Financial Institution": "Citigroup", "Number of Complaints": "6,600", "Total Deposits": "$964.0 billion", "Complaints per $1 Billion in Deposits": "6.85"}, {"Rank": "6", "Financial Institution": "U.S. Bancorp", "Number of Complaints": "2,338", "Total Deposits": "$342.6 billion", "Complaints per $1 Billion in Deposits": "6.82"}, {"Rank": "7", "Financial Institution": "Comerica", "Number of Complaints": "380", "Total Deposits": "$57.8 billion", "Complaints per $1 Billion in Deposits": "6.57"}, {"Rank": "8", "Financial Institution": "Wells Fargo", "Number of Complaints": "8,465", "Total Deposits": "$1.3 trillion", "Complaints per $1 Billion in Deposits": "6.48"}, {"Rank": "9", "Financial Institution": "KeyCorp", "Number of Complaints": "670", "Total Deposits": "$103.4 billion", "Complaints per $1 Billion in Deposits": "6.48"}, {"Rank": "10", "Financial Institution": "Bank of America", "Number of Complaints": "8,069", "Total Deposits": "$1.3 trillion", "Complaints per $1 Billion in Deposits": "6.28"}]
Source: LendEDU.com.
One thing you might notice is that the banks without complaints tend to be smaller ones. The largest one with no complaint is smaller than all but one of the top 10 offenders. The banks with the most complaints include many ofthe biggest banksin the U.S., such as Citigroup, Wells Fargo, and Bank of America. Note, however, that all three of those did improve their standing on the list between 2016 and 2017. The largest offender, TCF Financial, had nearly twice the number of complaints per $1 billion in deposits as the No. 2 bank, SunTrust. It's the smallest bank by far on the list, making it clear that a small size doesn't guarantee customer satisfaction.
You needn't close out your bank account if it's on the baddie list, but youshouldpay attention to the service you're getting. If you're not happy with your bank,switchingto a different one is worth considering. Consider smaller local banks, as well as credit unions.
Here are some things to look for when seeking the best bank or credit union for your needs:
• Low fees or no fees.Banks make billions by charging you fees, many of which, including overdraft and ATM fees, can be avoided. Some banks charge monthly account "maintenance" fees, which you can avoid by direct-depositing a certain number of checks per month or by maintaining a certain minimum account balance.
• Generous interest rates.We're in an environment of ultra-low interest rates, but that seems to be changing. So compare rates of any banks your considering and favor ones with higher rates. If interest rates are meaningfully higher in a few years, you'll benefit. Credit unions tend to have higher rates than for-profit banks, and online-only banks (ones with no brick-and-mortar locations) also often have higher rates, as they don't have branches to staff and maintain.
• Access to a broad network of free-to-use ATMs.If you use ATMs a lot, you don't want to be charged for the privilege of accessing your money just because you're not near one of your bank's branches.
• Mobile and/or Web banking.These days, many of us do a lot of our banking online, including paying bills and even depositing checks. If that's a valuable feature for you, make sure any bank you're considering has robust online services.
It's a good idea to review your bank's offerings and compare them with other banks, even if you're not annoyed with your bank. You never know -- you may be even happier with another bank.
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• 3 Growth Stocks at Deep-Value Prices
• 5 Expected Social Security Changes in 2018
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Selena Maranjianhas no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has adisclosure policy. || Apple Invests, Amazon Winnows, and Cryptocurrencies Get Plundered: In thisMarket Foolerypodcast, host Mac Greer is joined byTotal Income's Ron Gross andMotley Fool Pro and Options' Jeff Fischer to discuss several noteworthy news items out of the tech space.
First,Apple(NASDAQ: AAPL)revealed some long-term plans for U.S. investment and overseas cash repatriation, and the guys weigh what it all means. Then they consider the narrowed-down list of contenders for Amazon's HQ2. And finally, they offer some insights in reaction to the news that a serious percentage of the big cryptocurrencies in circulation have been at one time or another stolen.
A full transcript follows the video.
More From The Motley Fool
• 3 Growth Stocks at Deep-Value Prices
• 5 Expected Social Security Changes in 2018
• 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing
• 10 Best Stocks to Buy Today
• The $16,122 Social Security Bonus You Cannot Afford to Miss
• Bitcoin's Biggest Competitor Isn't Ethereum -- It's This
This video was recorded on Jan. 18, 2018.
Mac Greer:It's Thursday, Jan. 18. Welcome toMarket Foolery! I'm Mac Greer, and joining me in studio, we have Ron Gross fromMotley Fool Total Incomeand Jeff Fischer fromMotley Fool Pro and Options. Gentlemen, welcome!
Ron Gross:Hey, Mac! How are you?
Greer:I'm good. How're you feeling?
Gross:I'm feeling wonderful!
Greer:Jeff?
Jeff Fischer:Me as well.
Greer:You had a birthday this week.
Fischer:I did. It was Martin Luther King Day.
Greer:Ron, what did you get Jeff?
Gross:AFacebookbest wishes.
Fischer:Thank you, Ron! I appreciate that.
Gross:I wrapped it myself.
Greer:That was so unfair. I didn't get him anything. OK, on today's show, we're going to talk someAmazon(NASDAQ: AMZN)and some bitcoin, but we begin with big news from Apple. Guys, on Wednesday, Apple announcing that it will invest $350 billion -- that seems like a lot -- in the U.S. over the next five years. That's going to include a new campus and 20,000 new jobs. Jeff, Apple also says it's going to pay a one-time tax on $38 billion on all of its overseas cash holdings. My two questions here. Are you ready?
Fischer:Yes.
Greer:What does it mean for Apple investors?
Gross:Should I be writing these down?
Greer:And what does it mean for the broader market?
Fischer:What it means for Apple investors is, Apple is very optimistic about its future, at least as far as the next five years go, and hopefully much longer than that, or they wouldn't spend this money. What it means for the broader market is, possibly, more tailwinds this year for stocks, at least stocks of large-cap companies with a lot of money overseas who are set to bring at least some of that money back. Apple is the giant of them all. Its cash overseas represents about 14% of the entire U.S. tech industry's cash made overseas. And when it brings that money back, it represents about 11% of all the S&P 500's possible money coming back overseas and the tax bill that will get paid to the government here. So it's the biggest giant of them all, and it's making its move early and making it very vocally, which may inspire other companies that I'm sure were already thinking about it, but maybe to do it more quickly. So, net-net, I would say it's a positive for the stock market, at least the S&P 500. That doesn't mean the stock market will go up because of it.
Gross:It does not.
Fischer:But it may help, if it does decline, it may decline less. It's a small tailwind.
Gross:Yeah, hard to disagree with anything Jeff said. I think it's good for Apple shareholders. Interestingly, the company has returned $230-ish billion to shareholders over the last five years through dividends and share buybacks, and a lot of that has been done through them borrowing money at very low interest rates in order to get that done, because over 90% of their cash is actually held overseas, interestingly enough. I would expect to see the continuation of return of capital to shareholders, perhaps now with their actual own cash, in conjunction with borrowing, as long as interest rates stay low. But now, they'll actually have their own capital to return. They're still not going to need all of that. Yes, they're going to make $30 billion in capex over the next five years, that they've "committed" over the next five years, as part of this.
But is that something really that special? They did $12 billion or so in capex last year, so $30 billion over five years is not some huge commitment that's above and beyond what they would have done anyway. So the company will continue to reinvest in its business, will continue to reward shareholders through buybacks and dividends. I think we now will see other companies follow suit, taking advantage of this one-time repatriation tax lower rate of 15.5% versus the 21% typical corporate tax rate that will now be in place. So, you'll see more money coming back, you'll see more money being paid in taxes, but there's a savings there, because it's only 15.5%. And it will accrue to hopefully both employees and shareholders. My take on it is, shareholders will benefit more.
Fischer:Ron, it made me think, too, you have this one-time 15% repatriation tax. What happens five years from now, after Apple has built up $100 billion again overseas? Do they wait for another one-time low tax rate? Or --
Gross:That's a good question. We'll see how history reports, whether this whole thing was successful or not. We'll see where the deficit is and where our debt is, whether the whole corporate tax plan has worked or not. And then I guess our legislators will make a decision.
Greer:That all sounds good. As an Apple investor, as a shareholder, I'm heartened to hear everything you just said. But it can't all be sunshine and rainbows, so here's my question. For Apple, when you look at the company going forward, what's the biggest challenge? What's the one thing that would keep you up at night?
Gross:Please, Jeff.
Fischer:OK, I'll jump in first. You must have the same answer.
Gross:I do.
Fischer:It all rides on the iPhone.
Gross:Yes.
Greer:I've heard of that.
Fischer:The iPhone X, which, some reports say that it's shipping well, but not as well as hoped. Ditto with the iPhone 8, in China, at least. A slowdown that's modest any given quarter is OK, but if the trend continues in that direction, you have issues on your hand. They need to do something to change that, if that happens.
Gross:Yeah, and I'll just throw in the fancy term of "refresh cycle." How often do phones get refreshed, how often do people need to upgrade, can Apple continue to be innovative enough to want people to drive that refresh, and will they pay $1,000 for the iPhone X? Will they be able to continue to have pricing power? Will the innovations be such that people will want to continue to pay more and more each cycle? That's really what's going to drive profits, cash flow, and the stock price for Apple.
Greer:If I'm an indication there, I have device fatigue. I admitted this on a show recently. For the first time ever, I'm not upgrading my iPhone. What I'm doing is getting the battery replaced. So I have an iPhone 6. I love it, it does the job, and I don't need a new iPhone. I just need a new battery. So I'm going to pay $39. I'm actually -- that's not a good development for Apple.
Gross:That's not good. But I will counter that for those shareholders out there that I have upgraded to the X. It took a weekend to get used to it. I was a little bit unsure. But now, I've probably never been happier with a phone. I think it's a pretty fantastic device.
Greer:What can you do with your X that I can't do with my 6?
Gross:I can't tell you that. [laughs] No, the facial recognition is cool. I don't know if cool really translates to wanting to spend more, but it works perfectly. I was actually very concerned that I would not like it and it wouldn't work. The camera is a significant upgrade. The screen is larger because you no longer have that home button at the bottom. It's faster. The battery life is better. It's an improvement, for sure.
Fischer:Mac, I want to point out, too, that Apple called out that it's going to invest at least $10 billion just toward data centers, which it's been doing all along, but that's still a lot of money. Especially when you consider it's far from just Apple that's investing so much money in data centers. It's Facebook, it's Amazon, it'sAlphabet, it'sMicrosoft, all of these giants are pouring tens of billions of dollars into data centers, which means you have to seriously look at everything fromApplied MaterialstoInteltoNVIDIA, all of these companies that benefit as people spend on semiconductors and servers and whatnot.
Greer:Guys, let's move to Amazon. Amazon has chosen the 20 finalists for its second headquarters. The finalists are Atlanta, Austin, Boston, Chicago, Columbus, Dallas, Denver, Indianapolis, Los Angeles, Miami, Montgomery County, Md. -- Ron -- Nashville, Newark, New York, Northern Virginia, Philadelphia, Pittsburgh, Raleigh, Toronto, and D.C.
Gross:Are people still listening? You did the whole list.
Fischer:Good podcasting.
Greer:I was thinking, maybe I'll just read a few, but I don't want someone in Raleigh upset, so, all 20.
Gross:Well, CNBC said Charlotte-Raleigh-Durham is actually, based on their analysis, the best place, the best fit.
Greer:Is that right? And Toronto, the only Canadian name on that list. Do we have an early favorite when we hear that list?
Fischer:You know what I noticed? Everything is a city, at least in the list I'm reading, except for two, which are Montgomery County, Md., and Northern Virginia, which are two greater regions.
Gross:It's interesting that you say that. Everything in Montgomery County, where I live, everything is talked about in county terms. The school system is county-based, not town-based or subdivision-based. So it's very interesting that you point that out. It's unique. Montgomery, you have to be careful what you wish for with this Amazon --
Greer:Make the case, Ron. Come on!
Gross:I'm not sure I want to make the case, because traffic is already so darn lousy. It's going to get worse. Apartment prices are projected to spike as a result, because you can't bring in 50,000 people -- and they won't all be brought in; some already live there. But you'll see apartment prices spike. Perhaps the median house prices will spike, too, which I wouldn't mind as a homeowner. In fact, Seattle's median home price is up 17% from a year ago, if that's any indication. But you know what? Traffic congestion is also up quite a bit. There are pros and cons. Obviously, it's a tremendous injection into the local economy. It's great for taxes into local economy. It's great for employment. But it's not great for congestion and how crowded everything will be, and you'll never get a table at a restaurant ever again.
Greer:[laughs] It's not all about you, Ron. Come on!
Gross:Oh, I thought you were asking me the question. Sorry.
Greer:OK, as we wrap up this story, Jeff, do you have any thoughts on who you think the favorites are, or what investors should do with all of this?
Fischer:I think it's an exciting story. It's the biggest auction or bidding war for a new company headquarters since the 1980s, I read, withGeneral Motors. They were building something, and everyone went after them. But it'll certainly change the lives of hundreds of thousands of people, if not more, who live in that area, millions, and all of the people who end up living there. So they're looking for, they need enough tech talent in that region, and to draw enough tech talent, who wants to stay in the region, that's important, they need enough space, good housing, good schools.
Greer:Northern Virginia. It feels like you're describing Northern Virginia.
Fischer:Maybe.
Gross:Metro access is also important. Northern Virginia, Northern Montgomery County, where there's still plenty of urban sprawl yet to occur.
Greer:Not near your restaurants.
Gross:Exactly.
Fischer:All these things, they're looking at, of course. And then, it's the behind-the-scenes incentives that we're not hearing about. The only one I could find was Newark, N.J., offered up to $7 billion in tax incentives. That's a lot of money.
Gross:Well, yeah. They'd have to, wouldn't they?
Greer:Wow!
Gross:I used to live right outside of New York. Shout out to my New Jersey friends.
Fischer:Shout out or smackdown?
Greer:Yeah, we should add that you're from New Jersey.
Gross:I'm from New York, but I lived in New Jersey in my early 30s.
Greer:So are you allowed to make that comment?
Gross:I hope so. [laughs]
Fischer:So we don't know the incentives the other 19 contenders are offering, but Amazon is obviously going to look at all of the benefits of each location and then go with it. I would say this region has a good chance.
Greer:My dark horse is Atlanta. I'm going to go, I think Atlanta is going to be the new --
Gross:Because that airport needs a little more congestion?
Greer:No, I think, somewhere in the South, mix it up. Northern Virginia and D.C. and New York and Boston, that's all too predictable. So I'm going to go Atlanta first and Raleigh second. Give me your top two.
Fischer:I'll say Montgomery County, because it's a little easier than D.C., more space, and yet you're right in D.C., you're not far from New York and the whole upper Northeast. Montgomery County will be top. I'll say -- everyone's waiting with bated breath for this.
Gross:[laughs] No, they just clicked off. They hit stop.
Fischer:Off to somewhere else. Chicago, my hometown of Chicago.
Greer:OK, Ron?
Gross:OK. Montgomery County, I think maybe that's in the lead, and Raleigh-Durham.
Greer:OK. Guys, our final story, courtesy of Bloomberg, crypto hacking. Jeff, you sent this one to me, and I'm just going to read the headline from the Bloomberg story. "Hackers Have Walked Off With About 14% of Big Digital Currencies."
Fischer:Yeah. That's the research put out by Autonomous Research. That's what they're saying. And it's put some companies out of business, of course. Yobit files for bankruptcy after it lost 17% of its assets in December. NiceHash lost up to $63 million --
Gross:You made that up.
Fischer:NiceHash? [laughs] They lost up to $63 million in bitcoin from its virtual wallet. The bottom line, the point is, it's more difficult to hack into virtual currencies, but it's possible, and it's more lucrative than your typical hacking. So, you know people are going after it. And there's only the time lag from when something really takes off and becomes mainstream -- or at least, highly popular and touted -- to the hackers showing up and taking from it what they can. Even blockchain is vulnerable. There are ways to get into blockchain. They've analyzed that you can get in there and delay in the reporting of blockchain enough so that you can spend your bitcoin twice, at least twice, which would --
Gross:I'm in.
Fischer:[laughs] So, as with any new technology, it's going to have its weaknesses, and it's another reason to be cautious.
Gross:Yeah, I would say, the overriding thing that we're talking about here, which wouldn't mitigate it completely, by recent examples, but it's regulation. It's unregulated. It's the wild West right now. Even if you regulate it, you'll still get hacked, as we've seen time and time again with credit cards. But still, the volatility we've seen recently as a result of folks being concerned about regulation actually coming in -- they're worried about more regulation, not less. South Korea talking about shutting down cryptocurrency exchanges, China talking about banning centralized trading of digital currencies. This is the reason, the conventional wisdom, for the weakness we've seen recently in currencies like bitcoin, which was off 50% from its December high. Certainly, these investments are not for the weak of heart, they're not for folks that are afraid of volatility. Again, since it's the wild West, we don't know how this is going to shake out, so please, buyer beware.
Fischer:And I read the IRS has called bitcoin an asset now. Have you seen that, Ron? I only found it from one source. I wanted to find another source.
Gross:I know that we use that term around here. "Crypto assets" is the new buzz term, but I haven't --
Fischer:If the IRS has called it an asset, you need to file taxes on it. Any gains and losses. And now, the SEC, if you want to open a trading platform for bitcoin, you need to file with the SEC. So, yeah, regulation is coming. That changes the game a little bit.
Gross:It's necessary, right?
Fischer:Oh, yeah.
Gross:It has to come, and the price has to adjust to become a regulated asset, which I think in the short term could be bad for folks who bought it at an inflated price, but in the end, it's good and necessary.
Greer:As we wrap up here, you mentioned it could be bad for folks. It was a bad week for the Winklevoss twins.
Gross:Oh, yeah!
Greer:For those of you just joining us, the Winklevoss twins were involved with Mark Zuckerberg. They sued him, claiming that he stole their idea for Facebook. So there's a settlement there. What you need to know about the Winklevi now -- that's what we call the twins, the Winklevi -- is that they're big players in the bitcoin market. How big, you ask? Over the course of two days this week, the Winklevoss twins lost around $600 million in bitcoin wealth.
Gross:Oof. But they still probably have around $400...
Greer:That's what I was going to ask you -- do you have any advice in terms of how they can live below their means? Because that's not easy.
Gross:[laughs] Coupons. You've got to really stretch the dollar.
Greer:I don't know about you, but when you lose a $600 million in a week, this is our first-world-problem edition. Jeff, what do you think?
Fischer:I think Ron hit it right. There are coupons. They can go toGroupon.com. It's a thriving business.
Greer:Yeah, and the coupons are harder to hack. You can't really hack that Sunday supplement.
Gross:Exactly. You could try to Xerox them. That's not even a word anymore. You could try to copy them, but that never works.
Fischer:Speaking of hacking, there are thousands of different kinds of blockchain software codes written. I read something that compared it to web browsers -- those of us who are old enough to remember, in the '90s, there were all kinds of different Web browsers, and they were all vulnerable in different ways, until only a small handful, three or four, took over and became mainstream. The same sort of thing is likely to happen with blockchain. All of these, so many of these thousands, are vulnerable, until it boils down to one or two that take the lead.
Gross:My final tip is,Kraftmac and cheese is delicious. Cheap. You can stretch your dollar. So the Winklevi could maybe load up on a case of Kraft mac.
Fischer:They should buy some Facebook stock, too.
Greer:[laughs] Oh, wow! That hits close to home. You know, on the mac and cheese front, we have a friend who doubles the amount of butter she puts in it?
Gross:Wow! Caution to the wind.
Greer:Yeah. It's good. It's solid.
Gross:How could it not be good?
Greer:But I'm like, oh my God, you're making a deal with the devil. That can't be good for you.
Gross:[laughs] I respect that.
Greer:OK, guys. Thanks for joining me!
Gross:Thanks, Mac!
Fischer:Thank you!
Greer:As always, people on the show may have interests in the stocks they talk about, and The Motley Fool may have formal recommendations for or against, so don't buy or sell stocks based solely on what you hear. That's it for this edition ofMarket Foolery. The show is mixed by Dan Boyd. I'm Mac Greer. Thanks for listening! We'll see you tomorrow!
John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. Teresa Kersten, an employee of LinkedIn, a Microsoft subsidiary, is a member of The Motley Fool's board of directors.Jeff Fischerowns shares of Alphabet (C shares), Amazon, Apple, Facebook, Intel, and NVIDIA.Mac Greerowns shares of Alphabet (C shares), Amazon, Apple, Facebook, and NVIDIA.Ron Grossowns shares of Alphabet (C shares), Amazon, Apple, Facebook, and Microsoft. The Motley Fool owns shares of and recommends Alphabet (A shares), Alphabet (C shares), Amazon, Apple, Facebook, and NVIDIA. The Motley Fool has the following options: long January 2020 $150 calls on Apple and short January 2020 $155 calls on Apple. The Motley Fool recommends Intel. The Motley Fool, Jeff Fischer, Mac Greer, and Ron Gross have no position in any cryptocurrencies mentioned. The Motley Fool has adisclosure policy. || Apple Invests, Amazon Winnows, and Cryptocurrencies Get Plundered: In this Market Foolery podcast, host Mac Greer is joined by Total Income 's Ron Gross and Motley Fool Pro and Options ' Jeff Fischer to discuss several noteworthy news items out of the tech space. First, Apple (NASDAQ: AAPL) revealed some long-term plans for U.S. investment and overseas cash repatriation, and the guys weigh what it all means. Then they consider the narrowed-down list of contenders for Amazon's HQ2. And finally, they offer some insights in reaction to the news that a serious percentage of the big cryptocurrencies in circulation have been at one time or another stolen. A full transcript follows the video. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This This video was recorded on Jan. 18, 2018. Mac Greer: It's Thursday, Jan. 18. Welcome to Market Foolery ! I'm Mac Greer, and joining me in studio, we have Ron Gross from Motley Fool Total Income and Jeff Fischer from Motley Fool Pro and Options . Gentlemen, welcome! Ron Gross: Hey, Mac! How are you? Greer: I'm good. How're you feeling? Gross: I'm feeling wonderful! Greer: Jeff? Jeff Fischer: Me as well. Greer: You had a birthday this week. Fischer: I did. It was Martin Luther King Day. Greer: Ron, what did you get Jeff? Gross: A Facebook best wishes. Fischer: Thank you, Ron! I appreciate that. Gross: I wrapped it myself. Greer: That was so unfair. I didn't get him anything. OK, on today's show, we're going to talk some Amazon (NASDAQ: AMZN) and some bitcoin, but we begin with big news from Apple. Guys, on Wednesday, Apple announcing that it will invest $350 billion -- that seems like a lot -- in the U.S. over the next five years. That's going to include a new campus and 20,000 new jobs. Jeff, Apple also says it's going to pay a one-time tax on $38 billion on all of its overseas cash holdings. My two questions here. Are you ready? Story continues Fischer: Yes. Greer: What does it mean for Apple investors? Gross: Should I be writing these down? Greer: And what does it mean for the broader market? Fischer: What it means for Apple investors is, Apple is very optimistic about its future, at least as far as the next five years go, and hopefully much longer than that, or they wouldn't spend this money. What it means for the broader market is, possibly, more tailwinds this year for stocks, at least stocks of large-cap companies with a lot of money overseas who are set to bring at least some of that money back. Apple is the giant of them all. Its cash overseas represents about 14% of the entire U.S. tech industry's cash made overseas. And when it brings that money back, it represents about 11% of all the S&P 500's possible money coming back overseas and the tax bill that will get paid to the government here. So it's the biggest giant of them all, and it's making its move early and making it very vocally, which may inspire other companies that I'm sure were already thinking about it, but maybe to do it more quickly. So, net-net, I would say it's a positive for the stock market, at least the S&P 500. That doesn't mean the stock market will go up because of it. Gross: It does not. Fischer: But it may help, if it does decline, it may decline less. It's a small tailwind. Gross: Yeah, hard to disagree with anything Jeff said. I think it's good for Apple shareholders. Interestingly, the company has returned $230-ish billion to shareholders over the last five years through dividends and share buybacks, and a lot of that has been done through them borrowing money at very low interest rates in order to get that done, because over 90% of their cash is actually held overseas, interestingly enough. I would expect to see the continuation of return of capital to shareholders, perhaps now with their actual own cash, in conjunction with borrowing, as long as interest rates stay low. But now, they'll actually have their own capital to return. They're still not going to need all of that. Yes, they're going to make $30 billion in capex over the next five years, that they've "committed" over the next five years, as part of this. But is that something really that special? They did $12 billion or so in capex last year, so $30 billion over five years is not some huge commitment that's above and beyond what they would have done anyway. So the company will continue to reinvest in its business, will continue to reward shareholders through buybacks and dividends. I think we now will see other companies follow suit, taking advantage of this one-time repatriation tax lower rate of 15.5% versus the 21% typical corporate tax rate that will now be in place. So, you'll see more money coming back, you'll see more money being paid in taxes, but there's a savings there, because it's only 15.5%. And it will accrue to hopefully both employees and shareholders. My take on it is, shareholders will benefit more. Fischer: Ron, it made me think, too, you have this one-time 15% repatriation tax. What happens five years from now, after Apple has built up $100 billion again overseas? Do they wait for another one-time low tax rate? Or -- Gross: That's a good question. We'll see how history reports, whether this whole thing was successful or not. We'll see where the deficit is and where our debt is, whether the whole corporate tax plan has worked or not. And then I guess our legislators will make a decision. Greer: That all sounds good. As an Apple investor, as a shareholder, I'm heartened to hear everything you just said. But it can't all be sunshine and rainbows, so here's my question. For Apple, when you look at the company going forward, what's the biggest challenge? What's the one thing that would keep you up at night? Gross: Please, Jeff. Fischer: OK, I'll jump in first. You must have the same answer. Gross: I do. Fischer: It all rides on the iPhone. Gross: Yes. Greer: I've heard of that. Fischer: The iPhone X, which, some reports say that it's shipping well, but not as well as hoped. Ditto with the iPhone 8, in China, at least. A slowdown that's modest any given quarter is OK, but if the trend continues in that direction, you have issues on your hand. They need to do something to change that, if that happens. Gross: Yeah, and I'll just throw in the fancy term of "refresh cycle." How often do phones get refreshed, how often do people need to upgrade, can Apple continue to be innovative enough to want people to drive that refresh, and will they pay $1,000 for the iPhone X? Will they be able to continue to have pricing power? Will the innovations be such that people will want to continue to pay more and more each cycle? That's really what's going to drive profits, cash flow, and the stock price for Apple. Greer: If I'm an indication there, I have device fatigue. I admitted this on a show recently. For the first time ever, I'm not upgrading my iPhone. What I'm doing is getting the battery replaced. So I have an iPhone 6. I love it, it does the job, and I don't need a new iPhone. I just need a new battery. So I'm going to pay $39. I'm actually -- that's not a good development for Apple. Gross: That's not good. But I will counter that for those shareholders out there that I have upgraded to the X. It took a weekend to get used to it. I was a little bit unsure. But now, I've probably never been happier with a phone. I think it's a pretty fantastic device. Greer: What can you do with your X that I can't do with my 6? Gross: I can't tell you that. [laughs] No, the facial recognition is cool. I don't know if cool really translates to wanting to spend more, but it works perfectly. I was actually very concerned that I would not like it and it wouldn't work. The camera is a significant upgrade. The screen is larger because you no longer have that home button at the bottom. It's faster. The battery life is better. It's an improvement, for sure. Fischer: Mac, I want to point out, too, that Apple called out that it's going to invest at least $10 billion just toward data centers, which it's been doing all along, but that's still a lot of money. Especially when you consider it's far from just Apple that's investing so much money in data centers. It's Facebook, it's Amazon, it's Alphabet , it's Microsoft , all of these giants are pouring tens of billions of dollars into data centers, which means you have to seriously look at everything from Applied Materials to Intel to NVIDIA , all of these companies that benefit as people spend on semiconductors and servers and whatnot. Greer: Guys, let's move to Amazon. Amazon has chosen the 20 finalists for its second headquarters. The finalists are Atlanta, Austin, Boston, Chicago, Columbus, Dallas, Denver, Indianapolis, Los Angeles, Miami, Montgomery County, Md. -- Ron -- Nashville, Newark, New York, Northern Virginia, Philadelphia, Pittsburgh, Raleigh, Toronto, and D.C. Gross: Are people still listening? You did the whole list. Fischer: Good podcasting. Greer: I was thinking, maybe I'll just read a few, but I don't want someone in Raleigh upset, so, all 20. Gross: Well, CNBC said Charlotte-Raleigh-Durham is actually, based on their analysis, the best place, the best fit. Greer: Is that right? And Toronto, the only Canadian name on that list. Do we have an early favorite when we hear that list? Fischer: You know what I noticed? Everything is a city, at least in the list I'm reading, except for two, which are Montgomery County, Md., and Northern Virginia, which are two greater regions. Gross: It's interesting that you say that. Everything in Montgomery County, where I live, everything is talked about in county terms. The school system is county-based, not town-based or subdivision-based. So it's very interesting that you point that out. It's unique. Montgomery, you have to be careful what you wish for with this Amazon -- Greer: Make the case, Ron. Come on! Gross: I'm not sure I want to make the case, because traffic is already so darn lousy. It's going to get worse. Apartment prices are projected to spike as a result, because you can't bring in 50,000 people -- and they won't all be brought in; some already live there. But you'll see apartment prices spike. Perhaps the median house prices will spike, too, which I wouldn't mind as a homeowner. In fact, Seattle's median home price is up 17% from a year ago, if that's any indication. But you know what? Traffic congestion is also up quite a bit. There are pros and cons. Obviously, it's a tremendous injection into the local economy. It's great for taxes into local economy. It's great for employment. But it's not great for congestion and how crowded everything will be, and you'll never get a table at a restaurant ever again. Greer: [laughs] It's not all about you, Ron. Come on! Gross: Oh, I thought you were asking me the question. Sorry. Greer: OK, as we wrap up this story, Jeff, do you have any thoughts on who you think the favorites are, or what investors should do with all of this? Fischer: I think it's an exciting story. It's the biggest auction or bidding war for a new company headquarters since the 1980s, I read, with General Motors . They were building something, and everyone went after them. But it'll certainly change the lives of hundreds of thousands of people, if not more, who live in that area, millions, and all of the people who end up living there. So they're looking for, they need enough tech talent in that region, and to draw enough tech talent, who wants to stay in the region, that's important, they need enough space, good housing, good schools. Greer: Northern Virginia. It feels like you're describing Northern Virginia. Fischer: Maybe. Gross: Metro access is also important. Northern Virginia, Northern Montgomery County, where there's still plenty of urban sprawl yet to occur. Greer: Not near your restaurants. Gross: Exactly. Fischer: All these things, they're looking at, of course. And then, it's the behind-the-scenes incentives that we're not hearing about. The only one I could find was Newark, N.J., offered up to $7 billion in tax incentives. That's a lot of money. Gross: Well, yeah. They'd have to, wouldn't they? Greer: Wow! Gross: I used to live right outside of New York. Shout out to my New Jersey friends. Fischer: Shout out or smackdown? Greer: Yeah, we should add that you're from New Jersey. Gross: I'm from New York, but I lived in New Jersey in my early 30s. Greer: So are you allowed to make that comment? Gross: I hope so. [laughs] Fischer: So we don't know the incentives the other 19 contenders are offering, but Amazon is obviously going to look at all of the benefits of each location and then go with it. I would say this region has a good chance. Greer: My dark horse is Atlanta. I'm going to go, I think Atlanta is going to be the new -- Gross: Because that airport needs a little more congestion? Greer: No, I think, somewhere in the South, mix it up. Northern Virginia and D.C. and New York and Boston, that's all too predictable. So I'm going to go Atlanta first and Raleigh second. Give me your top two. Fischer: I'll say Montgomery County, because it's a little easier than D.C., more space, and yet you're right in D.C., you're not far from New York and the whole upper Northeast. Montgomery County will be top. I'll say -- everyone's waiting with bated breath for this. Gross: [laughs] No, they just clicked off. They hit stop. Fischer: Off to somewhere else. Chicago, my hometown of Chicago. Greer: OK, Ron? Gross: OK. Montgomery County, I think maybe that's in the lead, and Raleigh-Durham. Greer: OK. Guys, our final story, courtesy of Bloomberg, crypto hacking. Jeff, you sent this one to me, and I'm just going to read the headline from the Bloomberg story. "Hackers Have Walked Off With About 14% of Big Digital Currencies." Fischer: Yeah. That's the research put out by Autonomous Research. That's what they're saying. And it's put some companies out of business, of course. Yobit files for bankruptcy after it lost 17% of its assets in December. NiceHash lost up to $63 million -- Gross: You made that up. Fischer: NiceHash? [laughs] They lost up to $63 million in bitcoin from its virtual wallet. The bottom line, the point is, it's more difficult to hack into virtual currencies, but it's possible, and it's more lucrative than your typical hacking. So, you know people are going after it. And there's only the time lag from when something really takes off and becomes mainstream -- or at least, highly popular and touted -- to the hackers showing up and taking from it what they can. Even blockchain is vulnerable. There are ways to get into blockchain. They've analyzed that you can get in there and delay in the reporting of blockchain enough so that you can spend your bitcoin twice, at least twice, which would -- Gross: I'm in. Fischer: [laughs] So, as with any new technology, it's going to have its weaknesses, and it's another reason to be cautious. Gross: Yeah, I would say, the overriding thing that we're talking about here, which wouldn't mitigate it completely, by recent examples, but it's regulation. It's unregulated. It's the wild West right now. Even if you regulate it, you'll still get hacked, as we've seen time and time again with credit cards. But still, the volatility we've seen recently as a result of folks being concerned about regulation actually coming in -- they're worried about more regulation, not less. South Korea talking about shutting down cryptocurrency exchanges, China talking about banning centralized trading of digital currencies. This is the reason, the conventional wisdom, for the weakness we've seen recently in currencies like bitcoin, which was off 50% from its December high. Certainly, these investments are not for the weak of heart, they're not for folks that are afraid of volatility. Again, since it's the wild West, we don't know how this is going to shake out, so please, buyer beware. Fischer: And I read the IRS has called bitcoin an asset now. Have you seen that, Ron? I only found it from one source. I wanted to find another source. Gross: I know that we use that term around here. "Crypto assets" is the new buzz term, but I haven't -- Fischer: If the IRS has called it an asset, you need to file taxes on it. Any gains and losses. And now, the SEC, if you want to open a trading platform for bitcoin, you need to file with the SEC. So, yeah, regulation is coming. That changes the game a little bit. Gross: It's necessary, right? Fischer: Oh, yeah. Gross: It has to come, and the price has to adjust to become a regulated asset, which I think in the short term could be bad for folks who bought it at an inflated price, but in the end, it's good and necessary. Greer: As we wrap up here, you mentioned it could be bad for folks. It was a bad week for the Winklevoss twins. Gross: Oh, yeah! Greer: For those of you just joining us, the Winklevoss twins were involved with Mark Zuckerberg. They sued him, claiming that he stole their idea for Facebook. So there's a settlement there. What you need to know about the Winklevi now -- that's what we call the twins, the Winklevi -- is that they're big players in the bitcoin market. How big, you ask? Over the course of two days this week, the Winklevoss twins lost around $600 million in bitcoin wealth. Gross: Oof. But they still probably have around $400... Greer: That's what I was going to ask you -- do you have any advice in terms of how they can live below their means? Because that's not easy. Gross: [laughs] Coupons. You've got to really stretch the dollar. Greer: I don't know about you, but when you lose a $600 million in a week, this is our first-world-problem edition. Jeff, what do you think? Fischer: I think Ron hit it right. There are coupons. They can go to G roupon .com. It's a thriving business. Greer: Yeah, and the coupons are harder to hack. You can't really hack that Sunday supplement. Gross: Exactly. You could try to Xerox them. That's not even a word anymore. You could try to copy them, but that never works. Fischer: Speaking of hacking, there are thousands of different kinds of blockchain software codes written. I read something that compared it to web browsers -- those of us who are old enough to remember, in the '90s, there were all kinds of different Web browsers, and they were all vulnerable in different ways, until only a small handful, three or four, took over and became mainstream. The same sort of thing is likely to happen with blockchain. All of these, so many of these thousands, are vulnerable, until it boils down to one or two that take the lead. Gross: My final tip is, Kraft mac and cheese is delicious. Cheap. You can stretch your dollar. So the Winklevi could maybe load up on a case of Kraft mac. Fischer: They should buy some Facebook stock, too. Greer: [laughs] Oh, wow! That hits close to home. You know, on the mac and cheese front, we have a friend who doubles the amount of butter she puts in it? Gross: Wow! Caution to the wind. Greer: Yeah. It's good. It's solid. Gross: How could it not be good? Greer: But I'm like, oh my God, you're making a deal with the devil. That can't be good for you. Gross: [laughs] I respect that. Greer: OK, guys. Thanks for joining me! Gross: Thanks, Mac! Fischer: Thank you! Greer: As always, people on the show may have interests in the stocks they talk about, and The Motley Fool may have formal recommendations for or against, so don't buy or sell stocks based solely on what you hear. That's it for this edition of Market Foolery . The show is mixed by Dan Boyd. I'm Mac Greer. Thanks for listening! We'll see you tomorrow! John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. Teresa Kersten, an employee of LinkedIn, a Microsoft subsidiary, is a member of The Motley Fool's board of directors. Jeff Fischer owns shares of Alphabet (C shares), Amazon, Apple, Facebook, Intel, and NVIDIA. Mac Greer owns shares of Alphabet (C shares), Amazon, Apple, Facebook, and NVIDIA. Ron Gross owns shares of Alphabet (C shares), Amazon, Apple, Facebook, and Microsoft. The Motley Fool owns shares of and recommends Alphabet (A shares), Alphabet (C shares), Amazon, Apple, Facebook, and NVIDIA. The Motley Fool has the following options: long January 2020 $150 calls on Apple and short January 2020 $155 calls on Apple. The Motley Fool recommends Intel. The Motley Fool, Jeff Fischer, Mac Greer, and Ron Gross have no position in any cryptocurrencies mentioned. The Motley Fool has a disclosure policy . || Apple Inc. Might Be Planning to Kill the iPhone X Later in 2018: According to analyst Jun Zhang with Rosenblatt Securities (via Phillip Elmer-DeWitt),Apple(NASDAQ: AAPL)"may be planning to cut iPhone X production for the June quarter by as much as 10 million units."
That drastic reduction, the analyst says, would bring output in the quarter to just 15 million units.
Image source: Apple.
While this might sound like terrible news for Apple, Zhang thinks these production cuts may be driven by Apple choosing to discontinue the device altogether after this product cycle as it shifts production to itstrio of next-generation iPhone models.
Typically, when Apple introduces new iPhones, it reduces the prices on the previous generation models in an attempt to address a wider market. It seems as though Apple won't be doing so with the next generation iPhone lineup.
Here's why that makes perfect sense.
For those of you unfamiliar with the rumors around Apple's next-generation iPhone lineup, Apple is expected to put out three new iPhones this year. The first is supposed to be an upgraded version of this year's iPhone X -- same size display and same basic shape, but improved internals and, potentially,upgraded display technology.
The second is supposed to be similar to the upgraded iPhone X, but with a larger 6.46-inch display. And, finally, the third is expected to be a cheaper version of the iPhone X with a less-advanced liquid crystal display (the iPhone X, its successor, and its larger sibling all use or will use more advanced organic light emitting diode, or OLED displays).
All three new iPhones are expected to include the company's upcoming A12 processor as well as upgraded cellular modems, which will make the phones faster and more capable than this year's iPhone X.
Indeed, with that knowledge in mind, it's actually quite easy to see why Apple would choose to simply discontinue this year's iPhone X instead of discount it and continue to sell it: This year's iPhone X will be more expensive to produce than the next-generation iPhone with a 6.1-inch LCD, and it'll have worse internal specifications.
On top of that, the Rosenblatt analyst thinks the successor to the current iPhone X could be priced cheaper out of the gate, at between $799 and $999. If the successor to this year's iPhone X sells at a lower price than the current model, and if Apple is planning a targeted, cost-reduced version aimed at lower price points, there simply isn't room for the current iPhone X in next year's iPhone lineup.
Ultimately, it makes sense for Apple to build targeted products in each generation to address the most important price points. Last year's products sold at a discount can either simply not be competitive enough, or they might simply be too expensive to support Apple's desired profitability targets.
Building out a broader portfolio of products to span a wider range of price points does require additional engineering effort, marketing spend, and increases in all the other costs required to bring a high-volume product to market.
However, for a company like Apple that generates almost $150 billion per year in annual revenue from iPhone sales alone, the potential return on Apple's investment in broadening out its iPhone portfolio is enormous.
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Ashraf Eassahas no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Apple. The Motley Fool has the following options: long January 2020 $150 calls on Apple and short January 2020 $155 calls on Apple. The Motley Fool has adisclosure policy. || Apple Inc. Might Be Planning to Kill the iPhone X Later in 2018: According to analyst Jun Zhang with Rosenblatt Securities (via Phillip Elmer-DeWitt), Apple (NASDAQ: AAPL) "may be planning to cut iPhone X production for the June quarter by as much as 10 million units." That drastic reduction, the analyst says, would bring output in the quarter to just 15 million units. Apple's iPhone X. Image source: Apple. While this might sound like terrible news for Apple, Zhang thinks these production cuts may be driven by Apple choosing to discontinue the device altogether after this product cycle as it shifts production to its trio of next-generation iPhone models . Typically, when Apple introduces new iPhones, it reduces the prices on the previous generation models in an attempt to address a wider market. It seems as though Apple won't be doing so with the next generation iPhone lineup. Here's why that makes perfect sense. Expensive to build, but not competitive For those of you unfamiliar with the rumors around Apple's next-generation iPhone lineup, Apple is expected to put out three new iPhones this year. The first is supposed to be an upgraded version of this year's iPhone X -- same size display and same basic shape, but improved internals and, potentially, upgraded display technology . The second is supposed to be similar to the upgraded iPhone X, but with a larger 6.46-inch display. And, finally, the third is expected to be a cheaper version of the iPhone X with a less-advanced liquid crystal display (the iPhone X, its successor, and its larger sibling all use or will use more advanced organic light emitting diode, or OLED displays). All three new iPhones are expected to include the company's upcoming A12 processor as well as upgraded cellular modems, which will make the phones faster and more capable than this year's iPhone X. Indeed, with that knowledge in mind, it's actually quite easy to see why Apple would choose to simply discontinue this year's iPhone X instead of discount it and continue to sell it: This year's iPhone X will be more expensive to produce than the next-generation iPhone with a 6.1-inch LCD, and it'll have worse internal specifications. Story continues On top of that, the Rosenblatt analyst thinks the successor to the current iPhone X could be priced cheaper out of the gate, at between $799 and $999. If the successor to this year's iPhone X sells at a lower price than the current model, and if Apple is planning a targeted, cost-reduced version aimed at lower price points, there simply isn't room for the current iPhone X in next year's iPhone lineup. Foolish takeaway Ultimately, it makes sense for Apple to build targeted products in each generation to address the most important price points. Last year's products sold at a discount can either simply not be competitive enough, or they might simply be too expensive to support Apple's desired profitability targets. Building out a broader portfolio of products to span a wider range of price points does require additional engineering effort, marketing spend, and increases in all the other costs required to bring a high-volume product to market. However, for a company like Apple that generates almost $150 billion per year in annual revenue from iPhone sales alone, the potential return on Apple's investment in broadening out its iPhone portfolio is enormous. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Ashraf Eassa has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Apple. The Motley Fool has the following options: long January 2020 $150 calls on Apple and short January 2020 $155 calls on Apple. The Motley Fool has a disclosure policy . || Delta Air Lines Gets Ready to Expand Again in Seattle and Boston: Generally speaking, the biggest U.S. metropolitan areas are dominated by the top four airlines, which have a combined domestic market share of about 80%. Among the top 15 metro areas, there are only two exceptions to this rule: Seattle and Boston. Hometown carrier Alaska Air (NYSE: ALK) has historically dominated the Seattle market, operating a sizable hub there. Meanwhile, JetBlue Airways (NASDAQ: JBLU) took advantage of its rivals' capacity cuts during the Great Recession to grab the No. 1 market-share position in Boston. However, Delta Air Lines (NYSE: DAL) made a big growth push in Seattle starting five years ago. More recently, it has targeted Boston for expansion, as well. Delta plans additional growth in both cities during 2018. Delta continues building its newest hub Five years ago, Delta Air Lines and Alaska Air had a cooperative relationship in Seattle. Alaska had a broad domestic network, but no overseas flights, while Delta operated several international routes from Seattle -- and wanted to add more -- but had just a few dozen daily flights there, mainly to its hubs. This made them natural partners. A Delta Air Lines jet parked on the tarmac Since 2013, Delta and Alaska Air have gone from being partners to being rivals. Image source: Delta Air Lines. However, Delta decided fairly quickly that it needed to control its destiny in Seattle by supplying its own connecting traffic . It began to add flights at a frenetic pace and eventually terminated its partnership with Alaska Air. Delta now considers Seattle a full-fledged hub. Earlier this week, Delta Air Lines announced that it will expand its flight schedule in Seattle this year. It will introduce three new nonstop destinations in June: Indianapolis, Kansas City, and Washington, D.C. Delta also plans to add frequencies on several routes this summer, while using larger aircraft on others. In total, Delta will have 174 peak-day departures in Seattle this summer, with peak-day seats up 10% year over year. The carrier may have wanted to expand even faster, but severe gate constraints in Seattle are limiting its growth there. Story continues JetBlue has left an opening in Boston For Delta, building a hub in Seattle was critical to its growth strategy for Asia. By contrast, its expansion in Boston -- which Delta now considers a "focus city" -- has more to do with opportunity than strategic necessity. To get a sense of that opportunity, consider that the Boston metropolitan area is significantly more populous than the Seattle metropolitan area. Nevertheless, passenger traffic was 26% higher at Seattle-Tacoma International Airport compared to Boston's Logan International Airport in 2016. Furthermore, market leader Alaska Airlines operates nearly 300 daily departures in Seattle, whereas JetBlue leads the Boston market with just 160 daily departures. A JetBlue plane preparing to land JetBlue Airways is the No. 1 airline in Boston today. Image source: JetBlue Airways. Thus, Boston is an underserved market. Furthermore, JetBlue still doesn't fly to a number of midsize U.S. cities, particularly in the Midwest. This gives Delta Air Lines an advantage in competing for lucrative business travelers, as it can offer nonstop or one-stop service to most of the world from Boston. Delta already expanded in Boston last fall , and it plans to add another new route -- to Charleston, South Carolina -- and additional flights to several other cities in June. All told, it will operate 113 peak-day departures in Boston this summer, up from 93 a year earlier. Alaska and JetBlue can fend off the threat Delta Air Lines' growth in Seattle and Boston is certainly putting pressure on Alaska Airlines and JetBlue Airways -- but it's nothing they can't handle. Delta's 2018 growth plans for Seattle pale in comparison to its growth rate there between 2013 and 2016. Alaska posted strong profit growth throughout that earlier period by becoming more efficient, while boosting non-ticket revenue. Similar strategies should allow it to cope with Delta Air Lines' relatively modest growth in Seattle this year. Indeed, while Alaska Air's unit revenue has been declining recently, management stated, back in October, that virtually all of this pressure is coming from the carrier's California routes. In Boston, staying ahead of Delta will be the key to success for JetBlue. Even after Delta's recent growth spurt, JetBlue operates the most nonstop routes from Logan Airport, by far. That has helped it gain a loyal following there -- making Boston its most profitable focus city. Last year, JetBlue began Boston-Atlanta flights, addressing one of the biggest gaps in its route network. In May, it will begin flying to Minneapolis/St. Paul -- like Atlanta, a major Delta Air Lines hub -- filling in another major hole in its route network. To solidify its leading position in Boston, JetBlue should continue adding business-oriented routes there, enabling it to take its most lucrative customers wherever they want to go. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Adam Levine-Weinberg owns shares of Alaska Air Group, Delta Air Lines, and JetBlue Airways and is long January 2019 $10 calls on JetBlue Airways. The Motley Fool recommends JetBlue Airways. The Motley Fool has a disclosure policy . || Delta Air Lines Gets Ready to Expand Again in Seattle and Boston: Generally speaking, the biggest U.S. metropolitan areas are dominated by the top four airlines, which have a combined domestic market share of about 80%. Among the top 15 metro areas, there are only two exceptions to this rule: Seattle and Boston.
Hometown carrierAlaska Air(NYSE: ALK)has historically dominated the Seattle market, operating a sizable hub there. Meanwhile,JetBlue Airways(NASDAQ: JBLU)took advantage of its rivals' capacity cuts during the Great Recession to grab the No. 1 market-share position in Boston.
However,Delta Air Lines(NYSE: DAL)made a big growth push in Seattle starting five years ago. More recently, it has targeted Boston for expansion, as well. Delta plans additional growth in both cities during 2018.
Five years ago, Delta Air Lines and Alaska Air had a cooperative relationship in Seattle. Alaska had a broad domestic network, but no overseas flights, while Delta operated several international routes from Seattle -- and wanted to add more -- but had just a few dozen daily flights there, mainly to its hubs. This made them natural partners.
Since 2013, Delta and Alaska Air have gone from being partners to being rivals. Image source: Delta Air Lines.
However, Delta decided fairly quickly that it needed to control its destiny in Seattle bysupplying its own connecting traffic. It began to add flights at a frenetic pace and eventually terminated its partnership with Alaska Air. Delta now considers Seattle a full-fledged hub.
Earlier this week, Delta Air Lines announced that it will expand its flight schedule in Seattle this year. It will introduce three new nonstop destinations in June: Indianapolis, Kansas City, and Washington, D.C. Delta also plans to add frequencies on several routes this summer, while using larger aircraft on others.
In total, Delta will have 174 peak-day departures in Seattle this summer, with peak-day seats up 10% year over year. The carrier may have wanted to expand even faster, butsevere gate constraintsin Seattle are limiting its growth there.
For Delta, building a hub in Seattle was critical to its growth strategy for Asia. By contrast, its expansion in Boston -- which Delta now considers a "focus city" -- has more to do with opportunity than strategic necessity.
To get a sense of that opportunity, consider that the Boston metropolitan area is significantly more populous than the Seattle metropolitan area. Nevertheless, passenger traffic was 26% higher at Seattle-Tacoma International Airport compared to Boston's Logan International Airport in 2016. Furthermore, market leader Alaska Airlines operates nearly 300 daily departures in Seattle, whereas JetBlue leads the Boston market with just 160 daily departures.
JetBlue Airways is the No. 1 airline in Boston today. Image source: JetBlue Airways.
Thus, Boston is an underserved market. Furthermore, JetBlue still doesn't fly to a number of midsize U.S. cities, particularly in the Midwest. This gives Delta Air Lines an advantage in competing for lucrative business travelers, as it can offer nonstop or one-stop service to most of the world from Boston.
Delta alreadyexpanded in Boston last fall, and it plans to add another new route -- to Charleston, South Carolina -- and additional flights to several other cities in June. All told, it will operate 113 peak-day departures in Boston this summer, up from 93 a year earlier.
Delta Air Lines' growth in Seattle and Boston is certainly putting pressure on Alaska Airlines and JetBlue Airways -- but it's nothing they can't handle.
Delta's 2018 growth plans for Seattle pale in comparison to its growth rate there between 2013 and 2016. Alaska postedstrong profit growththroughout that earlier period by becoming more efficient, while boosting non-ticket revenue. Similar strategies should allow it to cope with Delta Air Lines' relatively modest growth in Seattle this year. Indeed, while Alaska Air's unit revenue has been declining recently, management stated, back in October, that virtually all of this pressure is coming from the carrier's California routes.
In Boston, staying ahead of Delta will be the key to success for JetBlue. Even after Delta's recent growth spurt, JetBlue operates the most nonstop routes from Logan Airport, by far. That has helped it gain a loyal following there -- making Boston its most profitable focus city.
Last year, JetBlue began Boston-Atlanta flights, addressing one of the biggest gaps in its route network. In May, it will begin flying to Minneapolis/St. Paul -- like Atlanta, a major Delta Air Lines hub -- filling in another major hole in its route network. To solidify its leading position in Boston, JetBlue should continue adding business-oriented routes there, enabling it to take its most lucrative customers wherever they want to go.
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Adam Levine-Weinbergowns shares of Alaska Air Group, Delta Air Lines, and JetBlue Airways and is long January 2019 $10 calls on JetBlue Airways. The Motley Fool recommends JetBlue Airways. The Motley Fool has adisclosure policy. || Once Left for Dead, This Hotly Contested Oil Pipeline Now Has Enough Support to Move Forward: After fighting hard for seven years, TransCanada (NYSE: TRP) lost its political battle to build the Keystone XL Pipeline in 2015 when the Obama Administration officially rejected it due to climate-change concerns. That seemingly put an end to a project that would have moved 830,000 barrels of oil per day from Canada's oil sands region to refineries in Texas. However, the Trump Administration resurrected the project by reversing that decision and approving the necessary permit last year . That opened the door for TransCanada to proceed. One of the next steps was making sure there were still enough customers interested in shipping oil on the line to justify the estimated $8 billion investment. It turns out that there were, since the company announced this week that shippers committed to long-term contracts for 500,000 barrels per day. While the company still has some work to do before it begins construction, securing these contracts is a significant accomplishment. A close-up of a pipeline under construction. Image source: Getty Images. What does this mean for the project? TransCanada initially began soliciting commercial support for the project last July and extended the deadline for another month in September to give customers in Houston more time to sign up after Hurricane Harvey. That patience paid off, as TransCanada was able to secure 20-year commitments for 500,000 barrels of oil per day. While that's below the initial design capacity of 830,000 barrels per day, the cash flow from those agreements makes it an economically viable project for TransCanada. That said, the company still plans to solicit additional support so it can fill up its capacity and improve the project's economics even further. However, just because it now has enough firm commitments to move forward doesn't mean it will start construction anytime soon. That's because it still needs to secure the rights-of-ways and other permits to build the pipeline. That process will likely take the company an entire year, which is why it doesn't expect construction to begin until 2019. With an estimated two-year build timeline, that would put it into service by 2021, at the earliest. Story continues A pipeline under construction. Image source: Getty Images. What does this mean for investors? That timeframe lines up well with TransCanada's current growth forecast. The company announced late last year that it had 24 billion Canadian dollars' ($19.3 billion) worth of expansion projects underway, which was enough to grow earnings by an 8% to 10% annual rate through 2021. That rising cash flow would enable the company to boost its dividend at the upper end of an 8% to 10% annual rate through 2020, and by another 8% to 10% in 2021 . As such, this project potentially sets the company up to extend the visibility of its dividend-growth forecast beyond that current time horizon. That ability to maintain fast-paced dividend growth increases the odds that TransCanada can continue delivering market-beating returns. In fact, since the company started raising its dividend in 2000, it has produced an average annual total return of 14%. Given the size of this project, it alone could move the needle enough to help the company maintain a market-beating growth rate in the year it enters service. A little bit closer to more growth Securing commercial support for this project is a big win for TransCanada because it proves that oil producers in Canada still need this pipeline, even after all the delays. It's also important to investors because it means that the project will generate a needle-moving return on investment for TransCanada, which could fuel additional dividend growth in the coming years. That said, there's still a long way to go before the company starts construction, so investors shouldn't begin counting on those higher dividend checks just yet. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Matthew DiLallo has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy . || Once Left for Dead, This Hotly Contested Oil Pipeline Now Has Enough Support to Move Forward: After fighting hard for seven years, TransCanada (NYSE: TRP) lost its political battle to build the Keystone XL Pipeline in 2015 when the Obama Administration officially rejected it due to climate-change concerns. That seemingly put an end to a project that would have moved 830,000 barrels of oil per day from Canada's oil sands region to refineries in Texas. However, the Trump Administration resurrected the project by reversing that decision and approving the necessary permit last year . That opened the door for TransCanada to proceed. One of the next steps was making sure there were still enough customers interested in shipping oil on the line to justify the estimated $8 billion investment. It turns out that there were, since the company announced this week that shippers committed to long-term contracts for 500,000 barrels per day. While the company still has some work to do before it begins construction, securing these contracts is a significant accomplishment. A close-up of a pipeline under construction. Image source: Getty Images. What does this mean for the project? TransCanada initially began soliciting commercial support for the project last July and extended the deadline for another month in September to give customers in Houston more time to sign up after Hurricane Harvey. That patience paid off, as TransCanada was able to secure 20-year commitments for 500,000 barrels of oil per day. While that's below the initial design capacity of 830,000 barrels per day, the cash flow from those agreements makes it an economically viable project for TransCanada. That said, the company still plans to solicit additional support so it can fill up its capacity and improve the project's economics even further. However, just because it now has enough firm commitments to move forward doesn't mean it will start construction anytime soon. That's because it still needs to secure the rights-of-ways and other permits to build the pipeline. That process will likely take the company an entire year, which is why it doesn't expect construction to begin until 2019. With an estimated two-year build timeline, that would put it into service by 2021, at the earliest. Story continues A pipeline under construction. Image source: Getty Images. What does this mean for investors? That timeframe lines up well with TransCanada's current growth forecast. The company announced late last year that it had 24 billion Canadian dollars' ($19.3 billion) worth of expansion projects underway, which was enough to grow earnings by an 8% to 10% annual rate through 2021. That rising cash flow would enable the company to boost its dividend at the upper end of an 8% to 10% annual rate through 2020, and by another 8% to 10% in 2021 . As such, this project potentially sets the company up to extend the visibility of its dividend-growth forecast beyond that current time horizon. That ability to maintain fast-paced dividend growth increases the odds that TransCanada can continue delivering market-beating returns. In fact, since the company started raising its dividend in 2000, it has produced an average annual total return of 14%. Given the size of this project, it alone could move the needle enough to help the company maintain a market-beating growth rate in the year it enters service. A little bit closer to more growth Securing commercial support for this project is a big win for TransCanada because it proves that oil producers in Canada still need this pipeline, even after all the delays. It's also important to investors because it means that the project will generate a needle-moving return on investment for TransCanada, which could fuel additional dividend growth in the coming years. That said, there's still a long way to go before the company starts construction, so investors shouldn't begin counting on those higher dividend checks just yet. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Matthew DiLallo has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy . || Tech Stocks This Week: IBM Earnings and Apple's Plans for $350 BIllion: Earnings season gained momentum this week, as one of tech's biggest names -- IBM (NYSE: IBM) -- reported results. Despite its first quarter of year-over-year growth in nearly six years, the company failed to impress as growth in its newer businesses wasn't upbeat enough. But Apple (NASDAQ: AAPL) managed to grab some major headlines this week, even without reporting earnings. It shared some insight into its plans for boatloads of cash it is bringing to the U.S. from its overseas markets. The word technology, typed on top of computer codes Image source: Getty Images. IBM earnings IBM beat analyst expectations in its fourth quarter, with revenue and non-GAAP earnings per share coming in at $22.5 billion and $5.18, respectively. These results compared to analyst consensus estimates for revenue and non-GAAP EPS of $22.06 billion and $5.17, respectively. One of the most notable takeaways from the quarter was the first year-over-year revenue growth in nearly six years. Revenue climbed about 3.6% year over year to $22.5 billion. But revenue from IBM's strategic imperatives, or its newer businesses like cloud, security, and mobile, may have been a letdown for some investors. Strategic imperatives revenue was up 17% year over year. Investors may have been looking for growth from these important initiatives to be steeper. BMO Capital analyst Keith Bachman estimated that strategic imperatives revenue was flat on a year-over-year basis in constant currency and when excluding systems revenue. IBM stock fell about 4% after its earnings report on Thursday. Apple's cash Investors have been wondering how Apple would put its overseas cash to work after a change to tax law that enabled U.S. companies to repatriate cash at a discount. Apple shareholders got some answers this week . Apple said it plans to contribute $350 billion to the U.S. economy over the next five years, starting with an estimated $38 billion repatriation tax payment. Beyond this repatriation tax payment, the bulk of this cash will go toward "direct employment by Apple, spending and investment with Apple's domestic suppliers and manufacturers, and fueling the fast-growing app economy which Apple created with iPhone and the App Store," Apple said. Story continues Some specifics Apple shared about its plans to contribute to the U.S. economy include the following: The company plans to create 20,000 new U.S. jobs over the next five years. It will expand its U.S. advanced manufacturing fund from $1 billion to $5 billion. About $30 billion will go toward capital expenditures in the U.S. Over $10 billion of its capital expenditures will represent investments in U.S.-based data centers. Despite all this information on how Apple plans to spend $350 billion in the U.S. over the next five years, there are arguably more questions than answers about how the company will put excess cash to work in the near term. Apple said $55 billion of this $350 billion was already designated to U.S. investments in suppliers and manufacturers during 2018 alone. With over $250 billion in cash held overseas at the end of Apple's fourth quarter, and considering that Apple is currently raking in annual free cash flow of more than $50 billion, Apple will need to get more aggressive with spending in other areas, such as share repurchases, dividends, or acquisitions, to really make a dent in its cash hoard. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Daniel Sparks owns shares of Apple. The Motley Fool owns shares of and recommends Apple. The Motley Fool has the following options: long January 2020 $150 calls on Apple and short January 2020 $155 calls on Apple. The Motley Fool has a disclosure policy . || Tech Stocks This Week: IBM Earnings and Apple's Plans for $350 BIllion: Earnings season gained momentum this week, as one of tech's biggest names --IBM(NYSE: IBM)-- reported results. Despite its first quarter of year-over-year growth in nearly six years, the company failed to impress as growth in its newer businesses wasn't upbeat enough.
ButApple(NASDAQ: AAPL)managed to grab some major headlines this week, even without reporting earnings. It shared some insight intoits plans for boatloads of cashit is bringing to the U.S. from its overseas markets.
Image source: Getty Images.
IBM beat analyst expectations in its fourth quarter, with revenue and non-GAAP earnings per share coming in at $22.5 billion and $5.18, respectively. These results compared to analyst consensus estimates for revenue and non-GAAP EPS of $22.06 billion and $5.17, respectively.
One of the most notable takeaways from the quarter was the first year-over-year revenue growth in nearly six years. Revenue climbed about 3.6% year over year to $22.5 billion. But revenue from IBM's strategic imperatives, or its newer businesses like cloud, security, and mobile, may have been a letdown for some investors. Strategic imperatives revenue was up 17% year over year. Investors may have been looking for growth from these important initiatives to be steeper. BMO Capital analyst Keith Bachman estimated that strategic imperatives revenue was flat on a year-over-year basis in constant currency and when excluding systems revenue.
IBM stock fell about 4% after its earnings report on Thursday.
Investors have been wondering how Apple would put its overseas cash to work after a change to tax law that enabled U.S. companies to repatriate cash at a discount. Apple shareholdersgot some answers this week.
Apple said it plans to contribute $350 billion to the U.S. economy over the next five years, starting with an estimated $38 billion repatriation tax payment.
Beyond this repatriation tax payment, the bulk of this cash will go toward "direct employment by Apple, spending and investment with Apple's domestic suppliers and manufacturers, and fueling the fast-growing app economy which Apple created with iPhone and the App Store," Apple said.
Some specifics Apple shared about its plans to contribute to the U.S. economy include the following:
• The company plans to create 20,000 new U.S. jobs over the next five years.
• It will expand its U.S. advanced manufacturing fund from $1 billion to $5 billion.
• About $30 billion will go toward capital expenditures in the U.S.
• Over $10 billion of its capital expenditures will represent investments in U.S.-based data centers.
Despite all this information on how Apple plans to spend $350 billion in the U.S. over the next five years, there are arguably more questions than answers about how the company will put excess cash to work in the near term. Apple said $55 billion of this $350 billion was already designated to U.S. investments in suppliers and manufacturers during 2018 alone. With over $250 billion in cash held overseas at the end of Apple's fourth quarter, and considering that Apple is currently raking in annual free cash flow of more than $50 billion, Apple will need to get more aggressive with spending in other areas, such as share repurchases, dividends, or acquisitions, to really make a dent in its cash hoard.
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Daniel Sparksowns shares of Apple. The Motley Fool owns shares of and recommends Apple. The Motley Fool has the following options: long January 2020 $150 calls on Apple and short January 2020 $155 calls on Apple. The Motley Fool has adisclosure policy. || 4 Ways to Take Money From Your 401(k) or IRA Without Paying a Penalty: In an ideal world, everyone would leave their retirement savings untouched until they retired. However, we live in the real world, and sometimes you need to dip into your nest egg early. In fact, nearly a third of Americans who participate in a 401(k) plan have taken money out at some point before retirement, according to a 2014 study from financial services firm TIAA-CREF. The problem is that taking money from your 401(k) or traditional IRA can be costly. The IRS imposes a 10% early distribution penalty on money you withdraw before you reach age 59 1/2, and you're also subject to income taxes on the money you take out (unless you're withdrawing from a Roth 401(k) account). For small withdrawals, these costs may not be too burdensome. But if you need tens of thousands of dollars, the penalty alone can drain your bank account. However, there are ways to take money from your tax-advantaged savings account without facing a penalty. The easiest is to simply wait until you turn 59 1/2, but if you don't have that kind of time, there are other options. Handing over money for fees Image source: Getty Images Why withdrawing from your retirement savings should be a last resort First, it's important to note that while you can withdraw your funds from a 401(k) or IRA penalty-free, it doesn't necessarily mean you should . Even if you withdraw a relatively small amount, it can have a significant impact on your long-term savings goals. For example, let's say you currently have $50,000 in your 401(k), you're contributing $100 per month, and you're earning a 7% annual rate of return on your investments. Here's how withdrawing $5,000 from your 401(k) would affect your savings over time, assuming you continued to contribute $100 per month: Years Balance After $5,000 Withdrawal Balance After No Withdrawal 0 $45,000 $50,000 10 $105,724 $115,559 20 $225,176 $244,525 30 $460,158 $498,219 In other words, that $5,000 withdrawal would cost you nearly $40,000 over 30 years, and that's not including any penalties or income taxes you may need to pay. Story continues That being said, if you've weighed all your options and decided you need to withdraw money from your 401(k) or IRA, there are a few situations in which the penalty is waived. Keep in mind that only the penalty is waived -- not the income tax. However, avoiding the 10% fee can soften the blow to your wallet. 1. Buying your first house If you're buying your first house, you can withdraw up to $10,000 for a down payment without paying the 10% penalty. Unfortunately, 401(k) withdrawals are not eligible for penalty-free withdrawals for homebuyers, but you can withdraw money from an IRA without facing any fees. With an IRA withdrawal, the maximum lifetime withdrawal limit for homebuyers is $10,000, and while you don't necessarily have to be a first-time homebuyer, you cannot have owned a home during the last two years. If you don't have an IRA, you can roll over money from a 401(k) into an IRA to get around the penalty. But because you can't roll over funds from your current employer, it will need to be a 401(k) from a former employer. If that's not an option for you, you can borrow from your 401(k) instead. You can take a loan of up to $50,000 or half of the vested balance of your 401(k), whichever is less (unless half of the vested account balance totals less than $10,000, in which case you can borrow up to $10,000). Most employers require that you pay the loan back within five years, and if you leave your job before the loan is paid off, you'll likely need to pay it in full within 60 to 90 days of leaving. Finally, you will need to pay interest on the loan, but that money is deposited back into your account. 2. Paying for certain medical expenses Medical bills are costly, and not everything is covered by insurance. Fortunately, if you're faced with a high bill that insurance won't cover, you can use some of your 401(k) or IRA funds to pay for it penalty-free. There's a catch to this, though: The penalty is only waived for expenses that exceed 10% of your adjusted gross income and aren't covered by insurance. In addition, you have to make the withdrawal in the same year that the medical expenses were incurred to avoid paying the 10% penalty. 3. Paying for health insurance premiums Even if you're unemployed, you shouldn't forgo health insurance. The average cost of a routine adult physical examination is about $200 without insurance, according to Blue Cross Blue Shield, and more expensive medical expenses, such as an emergency room visit or MRI, can cost thousands. After you've been unemployed for at least 12 weeks, you're eligible to withdraw 401(k) or IRA funds penalty-free to pay for health insurance premiums. If you have a spouse or dependents, you can use those withdrawals to pay insurance premiums for them as well. 4. Paying for college As with buying a home, 401(k) withdrawals used for college expenses are subject to the 10% penalty fee. However, in an IRA, there's no penalty on distributions for qualified higher-education costs . You can withdraw the full amount of your qualifying higher-education expenses from an IRA. The money doesn't just have to go toward your own college costs, either; it can also cover the expenses of your spouse, child, or grandchild. Qualifying expenses include tuition, fees, books, supplies, room and board, and more. Taking money from your retirement fund should never be your first resort, but it's a possibility if you have no other options. While you'll need to work a little harder to catch up on your savings after making a withdrawal, avoiding the 10% penalty can help ensure those withdrawals won't derail your retirement goals. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This The Motley Fool has a disclosure policy . || 4 Ways to Take Money From Your 401(k) or IRA Without Paying a Penalty: In an ideal world, everyone would leave their retirement savings untouched until they retired. However, we live in the real world, and sometimes you need to dip into your nest egg early. In fact, nearly a third of Americans who participate in a 401(k) plan have taken money out at some point before retirement, according to a 2014 study from financial services firm TIAA-CREF.
The problem is thattaking money from your 401(k)ortraditional IRAcan be costly. The IRS imposes a 10% early distribution penalty on money you withdraw before you reach age 59 1/2, and you're also subject to income taxes on the money you take out (unless you're withdrawing from a Roth 401(k) account). For small withdrawals, these costs may not be too burdensome. But if you need tens of thousands of dollars, the penalty alone can drain your bank account.
However, there are ways to take money from your tax-advantaged savings account without facing a penalty. The easiest is to simply wait until you turn 59 1/2, but if you don't have that kind of time, there are other options.
Image source: Getty Images
First, it's important to note that while youcanwithdraw your funds from a 401(k) or IRA penalty-free, it doesn't necessarily mean youshould. Even if you withdraw a relatively small amount, it can have a significant impact on your long-term savings goals.
For example, let's say you currently have $50,000 in your 401(k), you're contributing $100 per month, and you're earning a 7% annual rate of return on your investments. Here's how withdrawing $5,000 from your 401(k) would affect your savings over time, assuming you continued to contribute $100 per month:
[{"Years": "0", "Balance After $5,000 Withdrawal": "$45,000", "Balance After No Withdrawal": "$50,000"}, {"Years": "10", "Balance After $5,000 Withdrawal": "$105,724", "Balance After No Withdrawal": "$115,559"}, {"Years": "20", "Balance After $5,000 Withdrawal": "$225,176", "Balance After No Withdrawal": "$244,525"}, {"Years": "30", "Balance After $5,000 Withdrawal": "$460,158", "Balance After No Withdrawal": "$498,219"}]
In other words, that $5,000 withdrawal would cost you nearly $40,000 over 30 years, and that's not including any penalties or income taxes you may need to pay.
That being said, if you've weighed all your options and decided youneedto withdraw money from your 401(k) or IRA, there are a few situations in which the penalty is waived. Keep in mind thatonlythe penalty is waived -- not the income tax. However, avoiding the 10% fee can soften the blow to your wallet.
If you're buying your first house, you can withdraw up to $10,000 for a down payment without paying the 10% penalty. Unfortunately, 401(k) withdrawals are not eligible for penalty-free withdrawals for homebuyers, but you can withdraw money from an IRA without facing any fees.
With an IRA withdrawal, the maximum lifetime withdrawal limit for homebuyers is $10,000, and while you don't necessarily have to be a first-time homebuyer, you cannot have owned a home during the last two years. If you don't have an IRA, you can roll over money from a 401(k) into an IRA to get around the penalty. But because you can't roll over funds from your current employer, it will need to be a 401(k) from a former employer.
If that's not an option for you, you canborrow from your 401(k)instead. You can take a loan of up to $50,000 or half of the vested balance of your 401(k), whichever is less (unless half of the vested account balance totals less than $10,000, in which case you can borrow up to $10,000). Most employers require that you pay the loan back within five years, and if you leave your job before the loan is paid off, you'll likely need to pay it in full within 60 to 90 days of leaving. Finally, you will need to pay interest on the loan, but that money is deposited back into your account.
Medical bills are costly, and not everything is covered by insurance. Fortunately, if you're faced with a high bill that insurance won't cover, you can use some of your 401(k) or IRA funds to pay for it penalty-free.
There's a catch to this, though: The penalty is only waived for expenses that exceed 10% of youradjusted gross incomeand aren't covered by insurance. In addition, you have to make the withdrawal in the same year that the medical expenses were incurred to avoid paying the 10% penalty.
Even if you're unemployed, you shouldn't forgo health insurance. The average cost of a routine adult physical examination is about $200 without insurance, according to Blue Cross Blue Shield, and more expensive medical expenses, such as an emergency room visit or MRI, can cost thousands.
After you've been unemployed for at least 12 weeks, you're eligible to withdraw 401(k) or IRA funds penalty-free to pay for health insurance premiums. If you have a spouse or dependents, you can use those withdrawals to pay insurance premiums for them as well.
As with buying a home, 401(k) withdrawals used for college expenses are subject to the 10% penalty fee. However, in an IRA, there's no penalty ondistributions for qualified higher-education costs.
You can withdraw the full amount of your qualifying higher-education expenses from an IRA. The money doesn't just have to go toward your own college costs, either; it can also cover the expenses of your spouse, child, or grandchild. Qualifying expenses include tuition, fees, books, supplies, room and board, and more.
Taking money from your retirement fund should never be your first resort, but it's a possibility if you have no other options. While you'll need to work a little harder to catch up on your savings after making a withdrawal, avoiding the 10% penalty can help ensure those withdrawals won't derail your retirement goals.
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The Motley Fool has adisclosure policy. || What's the Deadline to File Taxes in 2018?: Taxes have certainly been hogging the news lately, especially in light of the recent changes that were implemented for 2018. But before we focus our attention toward the current year's taxes, let's not forget the little matter of tackling our 2017 returns. As you're probably aware, those returns are due in mid-April, though their exact due date might surprise you. Without further ado, the deadline to file a return for the 2017 tax year is April 17, 2018. Why not April 15, as usual? Because when the 15th falls on a Sunday, the due date for returns is pushed to the following Monday. But since that Monday is Emancipation Day, a legal holiday in Washington, D.C., the rest of the country gets an extra 24 hours of leeway. That said, the IRS will begin accepting returns as early as January 29, so it pays to get your taxes in ahead of schedule. Doing so will help you avoid late-payment penalties if you owe money, and will also push up your refund date if the IRS owes you a chunk of cash. Analog clock that says tax time IMAGE SOURCE: GETTY IMAGES. Get a head start on your 2017 taxes Each year, countless tax filers wait until the very last minute to start tackling their returns -- so don't be one of them this time around. Now that you're aware of the April 17 deadline, you can take steps to gather your paperwork and receipts so that you're prepared to file your return ahead of schedule. What sort of information will you need to file your taxes? If you're a salaried worker, you'll need your W-2 , which summarizes your wages and tax payments for the year. If you're self-employed, you'll need a 1099 from each company you worked for. Keep in mind that the requirement to issue a 1099 is waived for earnings under $600, so if you did small projects for a number of clients, you may not get anything in the mail -- but you're still obligated to report those earnings, nonetheless. In addition to the aforementioned forms, it also pays to gather information on the following well in advance of the April 17 deadline: Story continues Interest income, dividend income, or capital gains you received in 2017. Mortgage interest you paid last year. Retirement plan contributions you made. Healthcare costs you incurred. Money or goods you donated to charity. Childcare expenses you paid. Whether you choose to itemize or claim the standard deduction on your 2017 taxes, you'll need to report all investment income on your return. Furthermore, most of the above-listed data will be essential if you're looking to itemize, so the more time you give yourself to compile it, the easier it will be to file your taxes. Don't procrastinate Though April 17 might seem pretty far away, the tax-filing deadline has a way of sneaking up on people. And that could hurt you in a number of ways. First, if you don't leave yourself enough time to complete your return, you risk submitting one laden with errors. If this happens, your return might get audited, or outright rejected, and neither scenario is what you want. Furthermore, if you find that you've underpaid your taxes for 2017, and therefore owe the IRS money, you could end up scrambling to come up with that cash if you wait until the last minute. Imagine you complete your return and realize you're staring at a $1,200 tax bill. If you come upon that information on or around April 17 and don't have the money in savings to cover that obligation, you'll face late-payment penalties that can quickly add up. On the other hand, if you realize in, say, mid-February that you're looking at an underpayment, you'll have two solid months to scrounge up that cash, whether in the form of taking on extra shifts at work, or signing up for some freelance projects to cover your shortfall. Another good reason not to procrastinate? If you're due a refund, waiting until the last minute will only delay your cash. The IRS expects most refunds to go out within three weeks of receiving returns, provided you file electronically. Signing up for direct deposit could further expedite the process. This means that, in theory, you could be looking at your refund as early as February if you really get moving on your taxes. Wait until April 17, and you're more likely to get your cash in May. That said, if you're claiming the Earned Income Tax Credit (EITC) or Additional Child Tax Credit on your return, the soonest you can expect your refund is late February. That's because the IRS is required to withhold refunds associated with these credits due to high levels of related fraud. But otherwise, the sooner you file, the sooner you can expect your cash. Don't miss the boat If, despite knowing the tax-filing deadline well in advance, you still find yourself unprepared come April 17 of this year, you have the option to request a tax extension, which will buy you an extra six months to complete your return. An extension, however, won't give you additional time to pay your tax bill if you owe money, so at the very least, you should have a rough estimate of what your return is going to look like by the time April 17 rolls around. One final thing: Missing the April 17 deadline won't just subject you to a late-filing penalty, but will also needlessly drag out the already-stressful process of filing a return in the first place. You're better off getting your taxes over with in time and moving on with your life. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This The Motley Fool has a disclosure policy . || What's the Deadline to File Taxes in 2018?: Taxes have certainly been hogging the news lately, especially in light of the recentchangesthat were implemented for 2018. But before we focus our attention toward the current year's taxes, let's not forget the little matter of tackling our 2017 returns. As you're probably aware, those returns are due in mid-April, though their exact due date might surprise you.
Without further ado, the deadline to file a return for the 2017 tax year is April 17, 2018. Why not April 15, as usual? Because when the 15th falls on a Sunday, the due date for returns is pushed to the following Monday. But since that Monday is Emancipation Day, a legal holiday in Washington, D.C., the rest of the country gets an extra 24 hours of leeway.
That said, the IRS will begin accepting returns as early as January 29, so it pays to get your taxes in ahead of schedule. Doing so will help you avoid late-payment penalties if you owe money, and will also push up your refund date if the IRS owes you a chunk of cash.
IMAGE SOURCE: GETTY IMAGES.
Each year, countless tax filers wait until the very last minute to start tackling their returns -- so don't be one of them this time around. Now that you're aware of the April 17 deadline, you can take steps to gather your paperwork and receipts so that you're prepared to file your return ahead of schedule.
What sort of information will you need to file your taxes? If you're a salaried worker, you'll need yourW-2, which summarizes your wages and tax payments for the year. If you're self-employed, you'll need a1099from each company you worked for. Keep in mind that the requirement to issue a 1099 is waived for earnings under $600, so if you did small projects for a number of clients, you may not get anything in the mail -- but you're still obligated to report those earnings, nonetheless.
In addition to the aforementioned forms, it also pays to gather information on the following well in advance of the April 17 deadline:
• Interest income, dividend income, or capital gains you received in 2017.
• Mortgage interest you paid last year.
• Retirement plan contributions you made.
• Healthcare costs you incurred.
• Money or goods you donated to charity.
• Childcare expenses you paid.
Whether you choose toitemizeor claim the standard deduction on your 2017 taxes, you'll need to report all investment income on your return. Furthermore, most of the above-listed data will be essential if you're looking to itemize, so the more time you give yourself to compile it, the easier it will be to file your taxes.
Though April 17 might seem pretty far away, the tax-filing deadline has a way of sneaking up on people. And that could hurt you in a number of ways.
First, if you don't leave yourself enough time to complete your return, you risk submitting one laden with errors. If this happens, your return might get audited, or outright rejected, and neither scenario is what you want.
Furthermore, if you find that you've underpaid your taxes for 2017, and therefore owe the IRS money, you could end up scrambling to come up with that cash if you wait until the last minute. Imagine you complete your return and realize you're staring at a $1,200 tax bill. If you come upon that information on or around April 17 and don't have the money in savings to cover that obligation, you'll face late-payment penalties that can quickly add up. On the other hand, if you realize in, say, mid-February that you're looking at an underpayment, you'll have two solid months to scrounge up that cash, whether in the form of taking on extra shifts at work, or signing up for some freelance projects to cover your shortfall.
Another good reason not to procrastinate? If you're due a refund, waiting until the last minute will only delay your cash. The IRS expects most refunds to go out within three weeks of receiving returns, provided you file electronically. Signing up for direct deposit could further expedite the process. This means that, in theory, you could be looking at your refund as early as February if you really get moving on your taxes. Wait until April 17, and you're more likely to get your cash in May.
That said, if you're claiming theEarned Income Tax Credit(EITC) or Additional Child Tax Credit on your return, the soonest you can expect your refund is late February. That's because the IRS is required to withhold refunds associated with these credits due to high levels of related fraud. But otherwise, the sooner you file, the sooner you can expect your cash.
If, despite knowing the tax-filing deadline well in advance, you still find yourself unprepared come April 17 of this year, you have the option to request a tax extension, which will buy you an extra six months to complete your return. An extension, however, won't give you additional time to pay your tax bill if you owe money, so at the very least, you should have a rough estimate of what your return is going to look like by the time April 17 rolls around.
One final thing: Missing the April 17 deadline won't just subject you to a late-filing penalty, but will also needlessly drag out the already-stressful process of filing a return in the first place. You're better off getting your taxes over with in time and moving on with your life.
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The Motley Fool has adisclosure policy. || What Will Strong Nerf Sales on Amazon Mean for Hasbro?: On this episode of Industry Focus: Technology , Dylan Lewis is joined by Fool.com contributor Danny Vena to discuss Hasbro 's (NASDAQ: HAS) call-out in Amazon.com 's (NASDAQ: AMZN) holiday press release and what that could mean for the company's financial results. A full transcript follows the video. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This This video was recorded on Jan. 12, 2018. Dylan Lewis: A company where maybe the impact is a little more questionable, Hasbro. This is one of the biggest companies in the toy and game space. We bring them up because the best-selling toy and game item in the United States per Amazon was the Nerf N-Strike Elite Strongarm blaster. This is a product, Danny, that I am extremely familiar with, because a lot of Fools wield this model around HQ. So, I'm used to being shot with this thing. Danny Vena: I'm not surprised you would be a target. Lewis: [laughs] You know, I don't appreciate that. But, no, it's true, it's very true. People seem to love this. It's a fairly simple little Nerf gun, it's not one of those humongous rifle guns. I think they're about $13 or something like that. You look at a company like Hasbro, and with this announcement, they're a company that's kind of in need of some good news. Vena: Right. If you go back to the last quarter, the backdrop for all of the toy and game industry was the bankruptcy of Toys R Us and the amount of money like big players like Hasbro and Mattel had on the books with Toys R Us when they filed bankruptcy. There was some question whether or not these players would continue to supply Toys R Us with products going into the all-important holiday season. There were negotiations, they got those out of the way. But one of the things Hasbro management made a point to bring up was, there were other avenues where Hasbro sold toys. It was not limited to what was going to be sold at Toys R Us. This is just a good example of the other avenues that management was talking about. They sold a significant number of toys on Amazon, and one of their franchise products, the Nerf, was the biggest-selling toy on Amazon's website. Story continues Lewis: To look at this on a quarter-to-quarter basis and understanding what this news item might mean for company sales, this is more important from a broad strategy perspective than a distribution perspective long-term, than it will be for maybe the immediate results for this business as we look to their next earnings call. You mentioned before, this is one of their franchise brands, and Nerf falls into that category with other lines like My Little Pony , Transformers , Monopoly. Overall, that segment makes up just under 50% of the company's top line. Nerf is a very strong performer in that segment. It's posted double-digit growth, which has outpaced the 7% growth for the segment. But, because there are so many other brands in that portfolio, it's not going to be big enough to dramatically move their overall business. Vena: Again, this is one that's probably not going to move the needle. Better as an indicator to look at, Hasbro was not necessarily held hostage to the situation that was going on at Toys R Us, and certainly they're going to continue to grow whether or not they have the same type of growth that they would have seen if Toys R Us hadn't had those problems. We'll find that out when Hasbro releases their earnings. But in the meantime, it's just an indicator that toys were still being sold over the holidays. Lewis: A shocker. If you're looking for a segment to watch with Hasbro, I would look at their Hasbro gaming segment. They're posting 20% year-over-year growth. It's on a much smaller base. I think they're around $280 million in revenue as of the most recent quarter. That's really not all that surprising. We look at what's going on in the entertainment, toy, game space for younger kids, and it's increasingly digital. It's starting to look more and more like video games, mobile apps, things like that. The company is getting there. But I think it's something that they need to make happen. It's nice to see that this has some traction for them, because it seems to me like the age window for those classic toys is shrinking and getting smaller and smaller. Kids want to be on iPads, kids want to be on consoles and phones. Vena: There are a lot of industries that are being disrupted by the onset of mobile devices. I think for Hasbro, they're better positioned going forward than many of their industry competitors for several reasons. They do have some of the most well-known brands, and they're working on ways for kids to interact with those brands. They have digital games for kids to download onto their devices. They also have used a lot of these brands, like Transformers , in the movie business, just to keep them front of mind with the public. Maybe some of them have been not as successful as others. Transformers is obviously the big one, My Little Pony is another one, where the studio has put out stuff that has resonated with the fans. You had some others that were flops. But, Hasbro has an integrated strategy for international sales, omni-channel sales, keeping the products in front of the public's eyes with studio productions. I think they're less going to be a victim of disruption than some of the other players, but that's always something to keep in mind. Lewis: Listeners, I hope no one lets Vince know that I stole a CG company for this last one that we're talking about here with Hasbro. John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Danny Vena owns shares of Amazon, Hasbro, and Mattel. Dylan Lewis owns shares of Amazon. The Motley Fool owns shares of and recommends Amazon and Hasbro. The Motley Fool has a disclosure policy . || What Will Strong Nerf Sales on Amazon Mean for Hasbro?: On this episode ofIndustry Focus: Technology, Dylan Lewis is joined byFool.comcontributor Danny Vena to discussHasbro's(NASDAQ: HAS)call-out inAmazon.com's(NASDAQ: AMZN)holiday press release and what that could mean for the company's financial results.
A full transcript follows the video.
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This video was recorded on Jan. 12, 2018.
Dylan Lewis:A company where maybe the impact is a little more questionable, Hasbro. This is one of the biggest companies in the toy and game space. We bring them up because the best-selling toy and game item in the United States per Amazon was the Nerf N-Strike Elite Strongarm blaster. This is a product, Danny, that I am extremely familiar with, because a lot of Fools wield this model around HQ. So, I'm used to being shot with this thing.
Danny Vena:I'm not surprised you would be a target.
Lewis:[laughs] You know, I don't appreciate that. But, no, it's true, it's very true. People seem to love this. It's a fairly simple little Nerf gun, it's not one of those humongous rifle guns. I think they're about $13 or something like that. You look at a company like Hasbro, and with this announcement, they're a company that's kind of in need of some good news.
Vena:Right. If you go back to the last quarter, the backdrop for all of the toy and game industry was the bankruptcy of Toys R Us and the amount of money like big players like Hasbro andMattelhad on the books with Toys R Us when they filed bankruptcy. There was some question whether or not these players would continue to supply Toys R Us with products going into the all-important holiday season. There were negotiations, they got those out of the way. But one of the things Hasbro management made a point to bring up was, there were other avenues where Hasbro sold toys. It was not limited to what was going to be sold at Toys R Us. This is just a good example of the other avenues that management was talking about. They sold a significant number of toys on Amazon, and one of their franchise products, the Nerf, was the biggest-selling toy on Amazon's website.
Lewis:To look at this on a quarter-to-quarter basis and understanding what this news item might mean for company sales, this is more important from a broad strategy perspective than a distribution perspective long-term, than it will be for maybe the immediate results for this business as we look to their next earnings call. You mentioned before, this is one of their franchise brands, and Nerf falls into that category with other lines likeMy Little Pony,Transformers, Monopoly. Overall, that segment makes up just under 50% of the company's top line. Nerf is a very strong performer in that segment. It's posted double-digit growth, which has outpaced the 7% growth for the segment. But, because there are so many other brands in that portfolio, it's not going to be big enough to dramatically move their overall business.
Vena:Again, this is one that's probably not going to move the needle. Better as an indicator to look at, Hasbro was not necessarily held hostage to the situation that was going on at Toys R Us, and certainly they're going to continue to grow whether or not they have the same type of growth that they would have seen if Toys R Us hadn't had those problems. We'll find that out when Hasbro releases their earnings. But in the meantime, it's just an indicator that toys were still being sold over the holidays.
Lewis:A shocker. If you're looking for a segment to watch with Hasbro, I would look at their Hasbro gaming segment. They're posting 20% year-over-year growth. It's on a much smaller base. I think they're around $280 million in revenue as of the most recent quarter. That's really not all that surprising. We look at what's going on in the entertainment, toy, game space for younger kids, and it's increasingly digital. It's starting to look more and more like video games, mobile apps, things like that. The company is getting there. But I think it's something that they need to make happen. It's nice to see that this has some traction for them, because it seems to me like the age window for those classic toys is shrinking and getting smaller and smaller. Kids want to be on iPads, kids want to be on consoles and phones.
Vena:There are a lot of industries that are being disrupted by the onset of mobile devices. I think for Hasbro, they're better positioned going forward than many of their industry competitors for several reasons. They do have some of the most well-known brands, and they're working on ways for kids to interact with those brands. They have digital games for kids to download onto their devices. They also have used a lot of these brands, likeTransformers, in the movie business, just to keep them front of mind with the public. Maybe some of them have been not as successful as others.Transformersis obviously the big one,My Little Ponyis another one, where the studio has put out stuff that has resonated with the fans. You had some others that were flops. But, Hasbro has an integrated strategy for international sales, omni-channel sales, keeping the products in front of the public's eyes with studio productions. I think they're less going to be a victim of disruption than some of the other players, but that's always something to keep in mind.
Lewis:Listeners, I hope no one lets Vince know that I stole aCGcompany for this last one that we're talking about here with Hasbro.
John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors.Danny Venaowns shares of Amazon, Hasbro, and Mattel.Dylan Lewisowns shares of Amazon. The Motley Fool owns shares of and recommends Amazon and Hasbro. The Motley Fool has adisclosure policy.
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10931.40, 10868.40, 11359.40, 11259.40, 11171.40, 11440.70, 11786.30, 11296.40, 10106.30, 10221.10
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Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 447.99, 448.43, 435.69, 432.37, 430.31, 364.33, 387.54, 382.30, 387.17, 380.15, 420.23, 410.26, 382.49, 387.49, 402.97, 391.73, 392.15, 394.97, 380.29, 379.47, 378.26, 368.77, 373.06, 374.45, 369.95, 389.59, 386.55, 376.52, 376.62, 373.45, 376.03, 381.65, 379.65, 384.26, 391.86, 407.23, 400.18, 407.49, 416.32, 422.37, 420.79, 437.16, 438.80, 437.75, 420.74, 424.95, 424.54, 432.15, 432.52, 433.50, 437.70, 435.12, 423.99, 421.65, 410.94, 400.57, 407.71, 414.32, 413.97, 414.86, 417.13, 421.69, 411.62, 414.07, 416.44, 416.83, 417.01, 420.62, 409.55, 410.44, 413.76, 413.31, 418.09, 418.04, 416.39, 417.18, 417.95, 426.77, 424.23, 416.52, 414.82, 416.73, 417.96, 420.87, 420.90, 421.44, 424.03, 423.41, 422.74, 420.35.
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[Bitcoin Technical Analysis for 2016-04-08]
Volume: 63454700, RSI (14-day): 51.96, 50-day EMA: 416.37, 200-day EMA: 377.75
[Wider Market Context]
Gold Price: 1242.50, Gold RSI: 54.86
Oil Price: 39.72, Oil RSI: 59.35
[Recent News (last 7 days)]
'BLATANTLY ILLEGAL': 17 newspapers slam ex-Mozilla CEO's new ad-blocking browser: (Brave)Brendan Eich, CEO of Brave.
A group of the biggest US newspaper publishers — including Dow Jones, The Washington Post, and The New York Times Co. — have cosigned what they are calling a "cease and desist" letter (read it in full below) sent to the former Mozilla CEO's new browser company.
Brendan Eich's new browser, Brave,announced its launch early this year. The browser — available on iOS, Android, OS X, Windows, and Linux — has ad-blocking software baked into it, which blocks all ads by default and replaces them with its own ads that it says load quicker and"protect data sovereignty [and] anonymity"of users by blocking tracking pixels and cookies.
With Brave, publishers get around 55% of revenues: 15% go to Brave, 15% go to the partner that serves the ads, and 10% to 15% goes back to the user, who can choose to make bitcoin donations to their favorite publishers in order to get an ad-free experience on their websites,Eich told Business Insider in January.
But the 17 newspaper-publishing companies that cosigned the letter sent to Eich on Thursday say that this business model is "blatantly illegal" because they claim Brave is profiting from the "$5 billion" a year the industry spends on funding journalism.
The publishers argue that Brave's advertising-replacement plan would constitute copyright infringement, a violation of the publishers' terms of use, unfair competition, unauthorized access to their sites, and a breach of contract.
The letter compares Brave's business model to a company simply stealing their articles and pasting them on their own websites for profit.
Eich provided a lengthy statement in response to the letter (which you can read in full below.)
In it, he said: "The NAA sent a letter to Brave Software that is filled with false assertions. The NAA has fundamentally misunderstood Brave. Brave is the solution, not the enemy."
Not only do the publishers "expressly decline to participate in any way in Brave's supposed business model," but they threaten that they are "ready to enforce all legal rights" to protect their trademarks and copyrighted content.
The publishers, all of which are members of the Newspaper Association of America and together represent more than 1,200 newspapers in the US, threaten that they will seek damages of up to "$150,000 per work" that Brave monetizes.
This isn't the first time Brave has drawn ire from the media and advertising community.
In January, the CEO of the Interactive Advertising Bureau, Randall Rothenberg, ripped into Brave and other ad blockers in a speech at the US internet-advertising trade body's annual leadership conference.
Of Brave, hesaid:
The latest ad-blocking company is a Web browser startup called “Brave.” It was launched by former Mozilla CEO Brendan Eich, whose last major investment was in banning gay marriage in California. His business model not only strips advertisements from publishers’ pages — it replaces them with his own for-profit ads.
THIS is the true face of ad blocking. It is the rich and self-righteous, who want to tell everyone else what they can and cannot read and watch and hear — self-proclaimed libertarians whose liberty involves denying freedom to everyone else.
The ad-block profiteers are building for-profit companies whose business models are premised on impeding the movement of commercial, political, and public-service communication between and among producers and consumers. They offer to lift their toll gates for those wealthy enough to pay them off, or who submit to their demands that they constrict their freedom of speech to fit the shackles of their revenue schemes.
They may attempt to dignify their practices with such politically correct phrases as “reasonable advertising,” “responsible advertising,” and “acceptable ads”; and they can claim as loudly as they want that they seek “constructive rapport” with other stakeholders. But in fact, they are engaged in the techniques of The Big Lie, declaring themselves the friends of those whose livelihoods they would destroy, and allies to those whose freedoms they would subvert.
A Medianomics survey of 42 "high traffic" websites in the US published earlier this monthfound that 48% of respondents were "somewhat likely" and 36% were "definitely/very likely" to support taking collective legal action against ad-blocking companies.
Dear Mr. Eich:
Brave Software, Inc. (“Brave”), a company you founded, has announced that it intends to launch a browser and mobile applications that will display publishers’ content but replace publishers’ advertising with advertising that Brave sells for its own profit. You are hereby notified that Brave’s plan to replace our clients’ paid advertising content with its own advertising violates the law, and the undersigned publishers intend to fully enforce their rights.
Your plan to use our content to sell your advertising is indistinguishable from a plan to steal our content to publish on your own website. Your public statements demonstrate clearly that you intend to harness and exploit the content of all the publishers on the Web to sell your own advertising. “We can provide access to all of the top publishers through a single channel with guaranteed ‘share of voice,’” Brave’s website claims. “This combination of better targeting and first-look access to all of the premium placements our users browse is something that no one else can provide.” There’s a simple reason “no one else” is purporting to “provide” all the content on the Web in one place for its own profit, without investing a penny in creating that content: everyone else has recognized that it would be blatantly illegal for one company to hijack all the content on the Web for its own benefit.
We publish some of the most highly valued and widely read sites on the Web. Our sites and mobile applications provide news reporting, photojournalism, video content and feature writing that is researched, reported, edited, and produced at extraordinary cost. Our industry spends more than $5 billion per year on reporting in the United States alone. We distribute that reporting online for free or at highly subsidized rates, in no small part due to revenue from online ads.
Your apparent plan to permit your customers to make Bitcoin “donations” to us, and for you to donate to us some unspecified percentage of revenue you receive from the sale of your ads on our sites, cannot begin to compensate us for the loss of our ability to fund our work by displaying our own advertising. We expressly decline to participate in any way in Brave’s supposed business model. We explicitly reject any compensation or consideration Brave plans to offer to us as part of its ad-blocking and ad-replacing scheme, and we refuse to accept any “site wallet” that you propose to create for our supposed benefit. In addition, you are not authorized to use our names, trademarks and logos in any way in connection with the promotion or operation of your business.
We stand ready to enforce all legal rights to protect our trademarks and copyrighted content and to prevent you from deceiving consumers and unlawfully appropriating our work in the service of your business. Unauthorized republication of our copyrighted content to support Brave’s illegal advertising model violates protected rights of publishers under the Copyright Act and other laws. We reserve the right to seek all remedies for this infringement, including but not limited to statutory damages of up to $150,000 per work pursuant to 17 U.S.C. § 504. Brave’s use of publishers’ trademarks to sell its own advertising will confuse consumers, infringe upon publishers’ exclusive rights in their brands, and dilute our highly distinctive marks. We believe your planned activities will also constitute unfair competition and misappropriation under relevant federal, state and common law. Brave’s unauthorized activities involving our content and websites also violates our terms of use. By engaging in Brave’s plan of advertising replacement, Brave is liable for breach of contract, unauthorized access to our websites, unfair competition, and other causes of action.
Very truly yours,
ADVANCE LOCAL Vincent LaSpisa, Esq., Sabin, Bermant & Gould LLP, One World Trade Center, 44th Floor New York, New York 10007-2915
BH MEDIA GROUP Scott Searl, Esq., Senior Vice President and General Counsel, BH Media Group, 1314 Douglas Street, Suite 1500 Omaha, Nebraska 68102
CALKINS MEDIA INCORPORATED Sally A. Buckman, Esq., LermanSenter PLLC, 2001 L Street, N.W., Suite 400 Washington, D.C. 20036
DIGITAL FIRST MEDIA Marshall W. Anstandig, Esq., Senior Vice President and General Counsel, Digital First Media, 4 North 2nd Street, Suite 800 San Jose, California 95113
DOW JONES & COMPANY, INC., Jason P. Conti, Esq., Senior Vice President and Interim General Counsel, Dow Jones & Company, Inc., 1211 Ave of the Americas New York, New York 10036
GANNETT CO., INC., Barbara W. Wall, Esq., Senior Vice President, Chief Legal Officer, Gannett Co., Inc., 7950 Jones Branch Drive McLean, Virginia 22107
GATEHOUSE MEDIA/NEW MEDIA INVESTMENT GROUP, Polly Grunfeld Sack, Esq., Senior Vice President, General Counsel, GateHouse Media, 175 Sully’s Trail, 3rd Floor Pittsford, New York 14534
JOURNAL MEDIA GROUP, Hillary Ebach, Esq., Vice President and General Counsel, Journal Media Group, Inc., 333 W State Street Milwaukee, Wisconsin 53203
LANDMARK MEDIA ENTERPRISES, LLC, Guy R. Friddell, III, Esq., Executive Vice President and General Counsel, Landmark Media Enterprises, LLC, 150 Granby Street Norfolk, VA 23510
LEE ENTERPRISES INCORPORATED, Astrid Garcia, Esq., Lee Enterprises Incorporated, 201 N. Harrison St., Suite 600 Davenport, Iowa 52801
THE MCCLATCHY COMPANY, Juan Cornejo, Esq., Assistant General Counsel, The McClatchy Company, 2100 Q Street Sacramento, California 95816-6899
MORRIS PUBLISHING GROUP, LLC, J. Noel Schweers III, Esq., General Counsel, Morris Publishing Group, LLC, 725 Broad Street Augusta, Georgia 30901
THE NEW YORK TIMES COMPANY, Ken Richieri, Esq., Executive Vice President and General Counsel The New York Times Company, New York, New York 10018
NEWSDAY, LLC, Karen Au Claro, Esq., Senior Vice President, Law, Newsday, LLC, 235 Pinelawn Road Melville, New York 11747 
SCHURZ COMMUNICATIONS, INC., John Smarrella, Esq., Barnes & Thornburg, LLP, 100 North Michigan Street South Bend, Indiana 46601-1632
TRIBUNE PUBLISHING COMPANY, Karen Flax, Esq., Vice President and Deputy General Counsel, Tribune Publishing Company, 435 North Michigan Avenue Chicago, Illinois 60611
THE WASHINGTON POST, Jay Kennedy, Esq., Vice President and General Counsel, The Washington Post, 1301 K Street, NW Washington, D.C. 20071
The NAA sent a letter to Brave Software that is filled with false assertions. The NAA has fundamentally misunderstood Brave. Brave is the solution, not the enemy.
The NAA's letter to Brave Software asserts that any browser that blocks and replaces ads on the browser user's device performs "unauthorized republication" of Web content. This is false on its face, since browsers do not "republish", serve, syndicate, or distribute content across the Internet or to any computer other than the one on which they run.
Browsers are the end-point for secure connections, the user agent that actually mediates and combines all the pieces of content, including third-party ads and first-party publisher news stories. Browsers can block, rearrange, mash-up and otherwise make use of any content from any source. If it were the case that Brave's browsers perform "republication", then so too does Safari's Reader mode, and the same goes for any ad-blocker-equipped browser, or the Links text-only browser, or screen readers for the visually impaired.
The NAA letter also falsely asserts that Brave will share an "unspecified percentage of revenue", when our revenue share pie chart has been public and fixed from ourfirst preview release in January.We give the lion's share (pun intended), up to 70% of ad revenue, to websites, keeping only 15% for ourselves and paying 15% to our users.
We sympathize with publishers concerned about the damage that pure ad blockers do to their ability to pay their bills via advertising revenue. However,this problem long pre-dates Brave. We categorically reject the claim that browsers perform "republication", and we repeat that Brave has a sound and systematic plan to financially reward publishers. We aim to outperform the invasive third-party ads that we block, with our better, fewer, and privacy-preserving ads.
Finally, we note that malvertisement has gotten onto the websites of the New York Times and the BBC recently through the ill-designed, unregulated, and poorly-delegated third-party advertising technology ecosystem. Truly, this tracker-based ad-tech ecosystem is what is damaging the brand value of content publishers and driving users to adopt ad-blocking software. Brave blocks and replaces only third-party ads and trackers. Our system thus actually repairs the damage that publishers have carelessly allowed their ad partners (and partners' partners, to the seventh degree of separation) do to their trademarked brands and names.
Make no mistake: this NAA letter is the first shot in a war on all ad-blockers, not just on Brave. Though theNAA never reached out to us, we would be happy to sit down with them for an opportunity to discuss how the Brave solution can be a win win. We will fight alongside all citizens of the Internet who deserve and demand a better deal than they are getting from today's increasingly abusive approach to Web advertising.
More From Business Insider
• Another ad blocker claims Adblock Plus used a trademark complaint to force it offline
• A bunch of big US websites say they're likely to support legal action against ad blockers
• 1 in 10 people in the US uses an ad blocker || 'BLATANTLY ILLEGAL': 17 newspapers slam ex-Mozilla CEO's new ad-blocking browser: brendan eich ceo mozilla brave (Brave) Brendan Eich, CEO of Brave. A group of the biggest US newspaper publishers — including Dow Jones, The Washington Post, and The New York Times Co. — have cosigned what they are calling a "cease and desist" letter (read it in full below) sent to the former Mozilla CEO's new browser company. Brendan Eich's new browser, Brave, announced its launch early this year . The browser — available on iOS, Android, OS X, Windows, and Linux — has ad-blocking software baked into it, which blocks all ads by default and replaces them with its own ads that it says load quicker and "protect data sovereignty [and] anonymity" of users by blocking tracking pixels and cookies. With Brave, publishers get around 55% of revenues: 15% go to Brave, 15% go to the partner that serves the ads, and 10% to 15% goes back to the user, who can choose to make bitcoin donations to their favorite publishers in order to get an ad-free experience on their websites, Eich told Business Insider in January . 'Blatantly illegal' But the 17 newspaper-publishing companies that cosigned the letter sent to Eich on Thursday say that this business model is "blatantly illegal" because they claim Brave is profiting from the "$5 billion" a year the industry spends on funding journalism. The publishers argue that Brave's advertising-replacement plan would constitute copyright infringement, a violation of the publishers' terms of use, unfair competition, unauthorized access to their sites, and a breach of contract. The letter compares Brave's business model to a company simply stealing their articles and pasting them on their own websites for profit. Eich provided a lengthy statement in response to the letter (which you can read in full below.) In it, he said: "The NAA sent a letter to Brave Software that is filled with false assertions. The NAA has fundamentally misunderstood Brave. Brave is the solution, not the enemy." Seeking damages of up to $150,000 per work Not only do the publishers "expressly decline to participate in any way in Brave's supposed business model," but they threaten that they are "ready to enforce all legal rights" to protect their trademarks and copyrighted content. Story continues The publishers, all of which are members of the Newspaper Association of America and together represent more than 1,200 newspapers in the US, threaten that they will seek damages of up to "$150,000 per work" that Brave monetizes. This isn't the first time Brave has drawn ire from the media and advertising community. In January, the CEO of the Interactive Advertising Bureau, Randall Rothenberg, ripped into Brave and other ad blockers in a speech at the US internet-advertising trade body's annual leadership conference. Of Brave, he said : The latest ad-blocking company is a Web browser startup called “Brave.” It was launched by former Mozilla CEO Brendan Eich, whose last major investment was in banning gay marriage in California. His business model not only strips advertisements from publishers’ pages — it replaces them with his own for-profit ads. THIS is the true face of ad blocking. It is the rich and self-righteous, who want to tell everyone else what they can and cannot read and watch and hear — self-proclaimed libertarians whose liberty involves denying freedom to everyone else. The ad-block profiteers are building for-profit companies whose business models are premised on impeding the movement of commercial, political, and public-service communication between and among producers and consumers. They offer to lift their toll gates for those wealthy enough to pay them off, or who submit to their demands that they constrict their freedom of speech to fit the shackles of their revenue schemes. They may attempt to dignify their practices with such politically correct phrases as “reasonable advertising,” “responsible advertising,” and “acceptable ads”; and they can claim as loudly as they want that they seek “constructive rapport” with other stakeholders. But in fact, they are engaged in the techniques of The Big Lie, declaring themselves the friends of those whose livelihoods they would destroy, and allies to those whose freedoms they would subvert. A Medianomics survey of 42 "high traffic" websites in the US published earlier this month found that 48% of respondents were "somewhat likely" and 36% were "definitely/very likely" to support taking collective legal action against ad-blocking companies. Here's the full letter sent to Brave — you can also download it by clicking here . Brave's response is below. Dear Mr. Eich: Brave Software, Inc. (“Brave”), a company you founded, has announced that it intends to launch a browser and mobile applications that will display publishers’ content but replace publishers’ advertising with advertising that Brave sells for its own profit. You are hereby notified that Brave’s plan to replace our clients’ paid advertising content with its own advertising violates the law, and the undersigned publishers intend to fully enforce their rights. Your plan to use our content to sell your advertising is indistinguishable from a plan to steal our content to publish on your own website. Your public statements demonstrate clearly that you intend to harness and exploit the content of all the publishers on the Web to sell your own advertising. “We can provide access to all of the top publishers through a single channel with guaranteed ‘share of voice,’” Brave’s website claims. “This combination of better targeting and first-look access to all of the premium placements our users browse is something that no one else can provide.” There’s a simple reason “no one else” is purporting to “provide” all the content on the Web in one place for its own profit, without investing a penny in creating that content: everyone else has recognized that it would be blatantly illegal for one company to hijack all the content on the Web for its own benefit. We publish some of the most highly valued and widely read sites on the Web. Our sites and mobile applications provide news reporting, photojournalism, video content and feature writing that is researched, reported, edited, and produced at extraordinary cost. Our industry spends more than $5 billion per year on reporting in the United States alone. We distribute that reporting online for free or at highly subsidized rates, in no small part due to revenue from online ads. Your apparent plan to permit your customers to make Bitcoin “donations” to us, and for you to donate to us some unspecified percentage of revenue you receive from the sale of your ads on our sites, cannot begin to compensate us for the loss of our ability to fund our work by displaying our own advertising. We expressly decline to participate in any way in Brave’s supposed business model. We explicitly reject any compensation or consideration Brave plans to offer to us as part of its ad-blocking and ad-replacing scheme, and we refuse to accept any “site wallet” that you propose to create for our supposed benefit. In addition, you are not authorized to use our names, trademarks and logos in any way in connection with the promotion or operation of your business. We stand ready to enforce all legal rights to protect our trademarks and copyrighted content and to prevent you from deceiving consumers and unlawfully appropriating our work in the service of your business. Unauthorized republication of our copyrighted content to support Brave’s illegal advertising model violates protected rights of publishers under the Copyright Act and other laws. We reserve the right to seek all remedies for this infringement, including but not limited to statutory damages of up to $150,000 per work pursuant to 17 U.S.C. § 504. Brave’s use of publishers’ trademarks to sell its own advertising will confuse consumers, infringe upon publishers’ exclusive rights in their brands, and dilute our highly distinctive marks. We believe your planned activities will also constitute unfair competition and misappropriation under relevant federal, state and common law. Brave’s unauthorized activities involving our content and websites also violates our terms of use. By engaging in Brave’s plan of advertising replacement, Brave is liable for breach of contract, unauthorized access to our websites, unfair competition, and other causes of action. Very truly yours, ADVANCE LOCAL Vincent LaSpisa, Esq., Sabin, Bermant & Gould LLP, One World Trade Center, 44th Floor New York, New York 10007-2915 BH MEDIA GROUP Scott Searl, Esq., Senior Vice President and General Counsel, BH Media Group, 1314 Douglas Street, Suite 1500 Omaha, Nebraska 68102 CALKINS MEDIA INCORPORATED Sally A. Buckman, Esq., LermanSenter PLLC, 2001 L Street, N.W., Suite 400 Washington, D.C. 20036 DIGITAL FIRST MEDIA Marshall W. Anstandig, Esq., Senior Vice President and General Counsel, Digital First Media, 4 North 2nd Street, Suite 800 San Jose, California 95113 DOW JONES & COMPANY, INC., Jason P. Conti, Esq., Senior Vice President and Interim General Counsel, Dow Jones & Company, Inc., 1211 Ave of the Americas New York, New York 10036 GANNETT CO., INC., Barbara W. Wall, Esq., Senior Vice President, Chief Legal Officer, Gannett Co., Inc., 7950 Jones Branch Drive McLean, Virginia 22107 GATEHOUSE MEDIA/NEW MEDIA INVESTMENT GROUP, Polly Grunfeld Sack, Esq., Senior Vice President, General Counsel, GateHouse Media, 175 Sully’s Trail, 3rd Floor Pittsford, New York 14534 JOURNAL MEDIA GROUP, Hillary Ebach, Esq., Vice President and General Counsel, Journal Media Group, Inc., 333 W State Street Milwaukee, Wisconsin 53203 LANDMARK MEDIA ENTERPRISES, LLC, Guy R. Friddell, III, Esq., Executive Vice President and General Counsel, Landmark Media Enterprises, LLC, 150 Granby Street Norfolk, VA 23510 LEE ENTERPRISES INCORPORATED, Astrid Garcia, Esq., Lee Enterprises Incorporated, 201 N. Harrison St., Suite 600 Davenport, Iowa 52801 THE MCCLATCHY COMPANY, Juan Cornejo, Esq., Assistant General Counsel, The McClatchy Company, 2100 Q Street Sacramento, California 95816-6899 MORRIS PUBLISHING GROUP, LLC, J. Noel Schweers III, Esq., General Counsel, Morris Publishing Group, LLC, 725 Broad Street Augusta, Georgia 30901 THE NEW YORK TIMES COMPANY, Ken Richieri, Esq., Executive Vice President and General Counsel The New York Times Company, New York, New York 10018 NEWSDAY, LLC, Karen Au Claro, Esq., Senior Vice President, Law, Newsday, LLC, 235 Pinelawn Road Melville, New York 11747  SCHURZ COMMUNICATIONS, INC., John Smarrella, Esq., Barnes & Thornburg, LLP, 100 North Michigan Street South Bend, Indiana 46601-1632 TRIBUNE PUBLISHING COMPANY, Karen Flax, Esq., Vice President and Deputy General Counsel, Tribune Publishing Company, 435 North Michigan Avenue Chicago, Illinois 60611 THE WASHINGTON POST, Jay Kennedy, Esq., Vice President and General Counsel, The Washington Post, 1301 K Street, NW Washington, D.C. 20071 Here is Brave's full response: The NAA sent a letter to Brave Software that is filled with false assertions. The NAA has fundamentally misunderstood Brave. Brave is the solution, not the enemy. The NAA's letter to Brave Software asserts that any browser that blocks and replaces ads on the browser user's device performs "unauthorized republication" of Web content. This is false on its face, since browsers do not "republish", serve, syndicate, or distribute content across the Internet or to any computer other than the one on which they run. Browsers are the end-point for secure connections, the user agent that actually mediates and combines all the pieces of content, including third-party ads and first-party publisher news stories. Browsers can block, rearrange, mash-up and otherwise make use of any content from any source. If it were the case that Brave's browsers perform "republication", then so too does Safari's Reader mode, and the same goes for any ad-blocker-equipped browser, or the Links text-only browser, or screen readers for the visually impaired. The NAA letter also falsely asserts that Brave will share an "unspecified percentage of revenue", when our revenue share pie chart has been public and fixed from our first preview release in January . We give the lion's share (pun intended), up to 70% of ad revenue, to websites, keeping only 15% for ourselves and paying 15% to our users. We sympathize with publishers concerned about the damage that pure ad blockers do to their ability to pay their bills via advertising revenue. However, this problem long pre-dates Brave. We categorically reject the claim that browsers perform "republication", and we repeat that Brave has a sound and systematic plan to financially reward publishers. We aim to outperform the invasive third-party ads that we block, with our better, fewer, and privacy-preserving ads. Finally, we note that malvertisement has gotten onto the websites of the New York Times and the BBC recently through the ill-designed, unregulated, and poorly-delegated third-party advertising technology ecosystem. Truly, this tracker-based ad-tech ecosystem is what is damaging the brand value of content publishers and driving users to adopt ad-blocking software. Brave blocks and replaces only third-party ads and trackers. Our system thus actually repairs the damage that publishers have carelessly allowed their ad partners (and partners' partners, to the seventh degree of separation) do to their trademarked brands and names. Make no mistake: this NAA letter is the first shot in a war on all ad-blockers, not just on Brave. Though the NAA never reached out to us, we would be happy to sit down with them for an opportunity to discuss how the Brave solution can be a win win. We will fight alongside all citizens of the Internet who deserve and demand a better deal than they are getting from today's increasingly abusive approach to Web advertising. More From Business Insider Another ad blocker claims Adblock Plus used a trademark complaint to force it offline A bunch of big US websites say they're likely to support legal action against ad blockers 1 in 10 people in the US uses an ad blocker || Bitcoin Investing Improved Last Quarter: While Bitcoin may not have ended 2015 on a strong note, things could be turning around for the cryptocurrency. For example, Q4 was "surprisingly anemic," but the first quarter has seen $160 million in investments, according to Mattermark , citing CoinDesk figures. "Bitcoin had its best fundraising quarter in a year," Mattermark's Alex Wilhelm said. "I'm not sure that the industry will ever beat the first quarter of 2015, when more than $200 million went into bitcoin firms, including huge sums into Coinbase and 21. Still, closing well north of the $100 million mark is a big step up from every other quarter recorded last year," Wilhelm commented. Related Link: 10 Of This Year's Hottest Financial Buzzwords "In fact, it appears that the first quarter of 2016 was the second most active period in terms of total dollars raised for bitcoin firms in at least the last two years." Looking Ahead Based upon the transaction volume over the last year and the improvement over last quarter, it's probable that bitcoin may be making its way back into investors' favor. "In the last year, transaction volume across bitcoin to pick a single metric has roughly doubled. That's not the same pace of growth that the cryptocurrency saw in its infancy, but it is material," Wilhelm explained. "Combine that statistic with an increasingly stable price and continued investment and bitcoin look just fine." See more from Benzinga Andrew Left Talked Mallinckrodt And Evergrande On Bloomberg This Morning Twitter's NFL Deal Not A Huge Shock To PacCrest Detroit News Auto Critic: Tesla Model 3 Is 'The Auto Story Of The 21st Century' © 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Bitcoin Investing Improved Last Quarter: While Bitcoin may not have ended 2015 on a strong note, things could be turning around for the cryptocurrency.
For example, Q4 was "surprisingly anemic," but the first quarter has seen $160 million in investments, according toMattermark, citing CoinDesk figures.
"Bitcoin had its best fundraising quarter in a year," Mattermark's Alex Wilhelm said.
"I'm not sure that the industry will ever beat the first quarter of 2015, when more than $200 million went into bitcoin firms, including huge sums into Coinbase and 21. Still, closing well north of the $100 million mark is a big step up from every other quarter recorded last year," Wilhelm commented.
Related Link:10 Of This Year's Hottest Financial Buzzwords
"In fact, it appears that the first quarter of 2016 was the second most active period in terms of total dollars raised for bitcoin firms in at least the last two years."
Looking Ahead
Based upon the transaction volume over the last year and the improvement over last quarter, it's probable that bitcoin may be making its way back into investors' favor. "In the last year, transaction volume across bitcoin – to pick a single metric – has roughly doubled. That's not the same pace of growth that the cryptocurrency saw in its infancy, but it is material," Wilhelm explained.
"Combine that statistic with an increasingly stable price and continued investment and bitcoin look just fine."
See more from Benzinga
• Andrew Left Talked Mallinckrodt And Evergrande On Bloomberg This Morning
• Twitter's NFL Deal Not A Huge Shock To PacCrest
• Detroit News Auto Critic: Tesla Model 3 Is 'The Auto Story Of The 21st Century'
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Bitcoin Investing Improved Last Quarter: While Bitcoin may not have ended 2015 on a strong note, things could be turning around for the cryptocurrency.
For example, Q4 was "surprisingly anemic," but the first quarter has seen $160 million in investments, according toMattermark, citing CoinDesk figures.
"Bitcoin had its best fundraising quarter in a year," Mattermark's Alex Wilhelm said.
"I'm not sure that the industry will ever beat the first quarter of 2015, when more than $200 million went into bitcoin firms, including huge sums into Coinbase and 21. Still, closing well north of the $100 million mark is a big step up from every other quarter recorded last year," Wilhelm commented.
Related Link:10 Of This Year's Hottest Financial Buzzwords
"In fact, it appears that the first quarter of 2016 was the second most active period in terms of total dollars raised for bitcoin firms in at least the last two years."
Looking Ahead
Based upon the transaction volume over the last year and the improvement over last quarter, it's probable that bitcoin may be making its way back into investors' favor. "In the last year, transaction volume across bitcoin – to pick a single metric – has roughly doubled. That's not the same pace of growth that the cryptocurrency saw in its infancy, but it is material," Wilhelm explained.
"Combine that statistic with an increasingly stable price and continued investment and bitcoin look just fine."
See more from Benzinga
• Andrew Left Talked Mallinckrodt And Evergrande On Bloomberg This Morning
• Twitter's NFL Deal Not A Huge Shock To PacCrest
• Detroit News Auto Critic: Tesla Model 3 Is 'The Auto Story Of The 21st Century'
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Barclays-Circle Partnership to Facilitate App Launch in UK: After obtaining an electronic money license from U.K.’s top financial regulator, Financial Conduct Authority, the social payment app Circle is all set to foray into the nation on Wednesday. The move will be further facilitated by the Boston-based start-up’s tie-up with London-basedBarclays PLCBCS, which is the first global bank to join hands with a Bitcoin company.The license granted by the U.K., another first for a virtual currency firm, indicates the government’s efforts to attract virtual currency start-ups and make London a hub for the development of financial technology or fintech."Circle's decision to launch in the UK, and the firm's new partnership with Barclays are major milestones," said Britain's Economic Secretary to the Treasury Harriett Baldwin in an email. "They prove our decision to introduce the most progressive, forward-looking regulatory regime is paying off and cements our status as the world's FinTech capital," he added.Founded in 2013, Circle uses Bitcoin, the virtual currency, to allow users to make payments to other customers using a mobile app. The process is termed as “social payments” by the company and its investors list includes The Goldman Sachs Group, Inc. GS and IDG Capital Partners.Circle users can hold dollars and also pay any merchant that accepts Bitcoin anywhere in the world. Circle will instantly convert the dollars into Bitcoin at the time of payment and its users can accept Bitcoin payments, which will be immediately converted into dollars.The British license will enable Circle users in the U.K. to do the same. Consumers will be able to instantly transfer money between dollars and British pounds, thus facilitating domestic and international payments.“For the first time any consumer in the U.S. and the U.K. will be able to beam sterling and dollars back and forth, instantly for free,” said Jeremy Allaire, the co-founder of Circle. “That’s just never been possible.”Apart from money transfers, Circle users can also send emojis and animated "GIF" videos, along with written messages, at no charge, similar to China's WeChat Pay and AliPay.Moreover, Circle is expected to allow transfers in and out of euros soon, when it launches in the rest of Europe later this year.The affiliation with Barclays will provide Circle with the required infrastructure to enable transfers from any U.K. bank account. Further, Barclays Corporate Banking will provide the account needed by Circle to store sterling for consumers.While Bitcoin remains in a negative light owing to its standing as a black-market currency, the failure of a massive Bitcoin exchange and extreme price fluctuations, partnership with a global bank like Barclays will prove to be an accomplishment for Circle, which uses Bitcoin to transfer central bank currencies.Also, banks like Goldman, JPMorgan Chase & Co. JPM and Credit Suisse Group AG CS have been increasingly showing interest in Blockchain, the “digital ledger” or the underlying technology behind Bitcoin, given its significant potential to revamp the extensive and complex network of bank payments as well as settlements.Currently, Barclays holds a Zacks Rank #5 (Strong Sell).Want the latest recommendations from Zacks Investment Research? Today, you can download7 Best Stocks for the Next 30 Days. Click to get this free report >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportJPMORGAN CHASE (JPM): Free Stock Analysis ReportCREDIT SUISSE (CS): Free Stock Analysis ReportBARCLAY PLC-ADR (BCS): Free Stock Analysis ReportGOLDMAN SACHS (GS): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research || Barclays-Circle Partnership to Facilitate App Launch in UK: After obtaining an electronic money license from U.K.’s top financial regulator, Financial Conduct Authority, the social payment app Circle is all set to foray into the nation on Wednesday. The move will be further facilitated by the Boston-based start-up’s tie-up with London-based Barclays PLC BCS, which is the first global bank to join hands with a Bitcoin company. The license granted by the U.K., another first for a virtual currency firm, indicates the government’s efforts to attract virtual currency start-ups and make London a hub for the development of financial technology or fintech. "Circle's decision to launch in the UK, and the firm's new partnership with Barclays are major milestones," said Britain's Economic Secretary to the Treasury Harriett Baldwin in an email. "They prove our decision to introduce the most progressive, forward-looking regulatory regime is paying off and cements our status as the world's FinTech capital," he added. Founded in 2013, Circle uses Bitcoin, the virtual currency, to allow users to make payments to other customers using a mobile app. The process is termed as “social payments” by the company and its investors list includes The Goldman Sachs Group, Inc. GS and IDG Capital Partners. Circle users can hold dollars and also pay any merchant that accepts Bitcoin anywhere in the world. Circle will instantly convert the dollars into Bitcoin at the time of payment and its users can accept Bitcoin payments, which will be immediately converted into dollars. The British license will enable Circle users in the U.K. to do the same. Consumers will be able to instantly transfer money between dollars and British pounds, thus facilitating domestic and international payments. “For the first time any consumer in the U.S. and the U.K. will be able to beam sterling and dollars back and forth, instantly for free,” said Jeremy Allaire, the co-founder of Circle. “That’s just never been possible.” Apart from money transfers, Circle users can also send emojis and animated "GIF" videos, along with written messages, at no charge, similar to China's WeChat Pay and AliPay. Moreover, Circle is expected to allow transfers in and out of euros soon, when it launches in the rest of Europe later this year. The affiliation with Barclays will provide Circle with the required infrastructure to enable transfers from any U.K. bank account. Further, Barclays Corporate Banking will provide the account needed by Circle to store sterling for consumers. While Bitcoin remains in a negative light owing to its standing as a black-market currency, the failure of a massive Bitcoin exchange and extreme price fluctuations, partnership with a global bank like Barclays will prove to be an accomplishment for Circle, which uses Bitcoin to transfer central bank currencies. Also, banks like Goldman, JPMorgan Chase & Co. JPM and Credit Suisse Group AG CS have been increasingly showing interest in Blockchain, the “digital ledger” or the underlying technology behind Bitcoin, given its significant potential to revamp the extensive and complex network of bank payments as well as settlements. Currently, Barclays holds a Zacks Rank #5 (Strong Sell). Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days . Click to get this free report >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report JPMORGAN CHASE (JPM): Free Stock Analysis Report CREDIT SUISSE (CS): Free Stock Analysis Report BARCLAY PLC-ADR (BCS): Free Stock Analysis Report GOLDMAN SACHS (GS): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research || Brave will pay you in Bitcoins for browsing the web (updated): Brendan Eich, thecontroversialformer CEO of Mozilla, recently launchedBrave, a privacy-focused browser that blocks ads and trackers. While that concept isn't new, Brave has a twist: You'll have to pay to completely block ads, and if you allow replacement ads (reportedly free of bloat, tracking and malware) you'll actually get paid yourself. Now, the company hasrevealedthe Brave Ledger, a Bitcoin-based payment system for users and publishers. The specifications aren't final, but Brave is now fielding comments and discussion from advertisers and developers.
Here's how it works: Previously, the company said it would allow users to either pay to block ads, or get paid to allow ad replacements from Brave's own network. Those ads, chosen by an ad-matching partner, are supposedly faster, safer and load after the publisher's content, not before it like regular third-party ads. For ad-free mode, you'll pay a monthly fee that will be distributed to publishers based on total traffic to each site. Brave's ad network would take a five percent cut of the total amount collected.
How many publishers will go along with this, since many, like Engadget parent AOL, have their own ad networks?
When users go for replacement ads, Brave will take a 15 percent cut, its ad-matching partner would take 15 percent and publishers would get the biggest chunk, 55 percent. The latter pot would be divvied up based on the same traffic measurements as the ad-free method. Users get 15 percent, but there are some caveats. First of all, you need to have a Brave Bitcoin wallet, and the default option will be to donate money to your preferred publisher. If you want to spend the money yourself, you'll need to verify your identity with a phone number and email address. Publishers will also need to be verified to a higher standard.
All of this creates as many questions as it answers. How much will users get paid (and have to pay) to accept or decline ads, for instance? Since the ad-free method amounts to a subscription, how many users will pay to skip ads? (Not many, if torrent software providers likeuTorrentare any indication.) Which publishers will go along with this, since many, like Engadget parent AOL, have theirown ad networks? These are tricky questions, and if the company doesn't have the right answers, its Brave browser model will be dead on arrival.
Update: Since this article was published, Brave has updated the source blogpostto say that paying for ad-blocking is "optional." In a previous version, it said "for ad-free mode, you pay a monthly fee in Bitcoin (BTC)." The article now states: "For sites in ad-free mode, you can optionally pay the site by drawing from your user wallet, funded by your revenue share from ad-replacement mode sites (see below) plus your own funds if you care to add any." A company spokesperson also confirmed that users do not have to pay to block ads.
There's no word on whether users would opt in or out to pay, and how a free mode would affect publisher revenues. Engadget has reached out for more information, and Brave's comments, in part, are below.
There is no subscription model. With Brave, a user can go ad-free if he wishes -- without paying. Of course we encourage users to support publishers and web sites, but we don't require users to pay to go ad-free. || Brave will pay you in Bitcoins for browsing the web (updated): Brendan Eich, thecontroversialformer CEO of Mozilla, recently launchedBrave, a privacy-focused browser that blocks ads and trackers. While that concept isn't new, Brave has a twist: You'll have to pay to completely block ads, and if you allow replacement ads (reportedly free of bloat, tracking and malware) you'll actually get paid yourself. Now, the company hasrevealedthe Brave Ledger, a Bitcoin-based payment system for users and publishers. The specifications aren't final, but Brave is now fielding comments and discussion from advertisers and developers.
Here's how it works: Previously, the company said it would allow users to either pay to block ads, or get paid to allow ad replacements from Brave's own network. Those ads, chosen by an ad-matching partner, are supposedly faster, safer and load after the publisher's content, not before it like regular third-party ads. For ad-free mode, you'll pay a monthly fee that will be distributed to publishers based on total traffic to each site. Brave's ad network would take a five percent cut of the total amount collected.
How many publishers will go along with this, since many, like Engadget parent AOL, have their own ad networks?
When users go for replacement ads, Brave will take a 15 percent cut, its ad-matching partner would take 15 percent and publishers would get the biggest chunk, 55 percent. The latter pot would be divvied up based on the same traffic measurements as the ad-free method. Users get 15 percent, but there are some caveats. First of all, you need to have a Brave Bitcoin wallet, and the default option will be to donate money to your preferred publisher. If you want to spend the money yourself, you'll need to verify your identity with a phone number and email address. Publishers will also need to be verified to a higher standard.
All of this creates as many questions as it answers. How much will users get paid (and have to pay) to accept or decline ads, for instance? Since the ad-free method amounts to a subscription, how many users will pay to skip ads? (Not many, if torrent software providers likeuTorrentare any indication.) Which publishers will go along with this, since many, like Engadget parent AOL, have theirown ad networks? These are tricky questions, and if the company doesn't have the right answers, its Brave browser model will be dead on arrival.
Update: Since this article was published, Brave has updated the source blogpostto say that paying for ad-blocking is "optional." In a previous version, it said "for ad-free mode, you pay a monthly fee in Bitcoin (BTC)." The article now states: "For sites in ad-free mode, you can optionally pay the site by drawing from your user wallet, funded by your revenue share from ad-replacement mode sites (see below) plus your own funds if you care to add any." A company spokesperson also confirmed that users do not have to pay to block ads.
There's no word on whether users would opt in or out to pay, and how a free mode would affect publisher revenues. Engadget has reached out for more information, and Brave's comments, in part, are below.
There is no subscription model. With Brave, a user can go ad-free if he wishes -- without paying. Of course we encourage users to support publishers and web sites, but we don't require users to pay to go ad-free. || Brave will pay you in Bitcoins for browsing the web (updated): Brendan Eich, the controversial former CEO of Mozilla, recently launched Brave , a privacy-focused browser that blocks ads and trackers. While that concept isn't new, Brave has a twist: You'll have to pay to completely block ads, and if you allow replacement ads (reportedly free of bloat, tracking and malware) you'll actually get paid yourself. Now, the company has revealed the Brave Ledger, a Bitcoin-based payment system for users and publishers. The specifications aren't final, but Brave is now fielding comments and discussion from advertisers and developers. Here's how it works: Previously, the company said it would allow users to either pay to block ads, or get paid to allow ad replacements from Brave's own network. Those ads, chosen by an ad-matching partner, are supposedly faster, safer and load after the publisher's content, not before it like regular third-party ads. For ad-free mode, you'll pay a monthly fee that will be distributed to publishers based on total traffic to each site. Brave's ad network would take a five percent cut of the total amount collected. How many publishers will go along with this, since many, like Engadget parent AOL, have their own ad networks? When users go for replacement ads, Brave will take a 15 percent cut, its ad-matching partner would take 15 percent and publishers would get the biggest chunk, 55 percent. The latter pot would be divvied up based on the same traffic measurements as the ad-free method. Users get 15 percent, but there are some caveats. First of all, you need to have a Brave Bitcoin wallet, and the default option will be to donate money to your preferred publisher. If you want to spend the money yourself, you'll need to verify your identity with a phone number and email address. Publishers will also need to be verified to a higher standard. All of this creates as many questions as it answers. How much will users get paid (and have to pay) to accept or decline ads, for instance? Since the ad-free method amounts to a subscription, how many users will pay to skip ads? (Not many, if torrent software providers like uTorrent are any indication.) Which publishers will go along with this, since many, like Engadget parent AOL, have their own ad networks ? These are tricky questions, and if the company doesn't have the right answers, its Brave browser model will be dead on arrival. Story continues Update : Since this article was published, Brave has updated the source blog post to say that paying for ad-blocking is "optional." In a previous version, it said "for ad-free mode, you pay a monthly fee in Bitcoin (BTC)." The article now states: "For sites in ad-free mode, you can optionally pay the site by drawing from your user wallet, funded by your revenue share from ad-replacement mode sites (see below) plus your own funds if you care to add any." A company spokesperson also confirmed that users do not have to pay to block ads. There's no word on whether users would opt in or out to pay, and how a free mode would affect publisher revenues. Engadget has reached out for more information, and Brave's comments, in part, are below. There is no subscription model. With Brave, a user can go ad-free if he wishes -- without paying. Of course we encourage users to support publishers and web sites, but we don't require users to pay to go ad-free.
[Social Media Buzz]
$421.60 #coinbase;
$421.15 #bitfinex;
$420.00 #bitstamp;
$416.30 #btce;
#bitcoin #btc || LIVE: Profit = $139.11 (7.95 %). BUY B4.53 @ $410.00 (#VirCurex). SELL @ $418.22 (#Kraken) #bitcoin #btc - http://www.projectcoin.org || My #BUY order on http://btcplate.com has been executed. Current rate BTC/JPY 5000.00 || 1 KOBO =
0.00001180 BTC
0.00494619 USD
0.98552836 NGN
#Kobocoin #BTC #USD #NGN
2016-04-08 22:00 pic.twitter.com/8Sigpn4xWd || 1 KOBO =
0.00001039 BTC
0.00436815 USD ...
|
419.41, 421.56, 422.48, 425.19, 423.73, 424.28, 429.71, 430.57, 427.40, 428.59
|
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 9182.58, 9209.29, 8790.37, 8906.93, 8835.05, 9181.02, 9525.75, 9439.12, 9700.41, 9461.06, 10167.27, 9529.80, 9656.72, 9800.64, 9665.53, 9653.68, 9758.85, 9771.49, 9795.70, 9870.09, 9321.78, 9480.84, 9475.28, 9386.79, 9450.70, 9538.02, 9480.25, 9411.84, 9288.02, 9332.34, 9303.63, 9648.72, 9629.66, 9313.61, 9264.81, 9162.92, 9045.39, 9143.58, 9190.85, 9137.99, 9228.33, 9123.41, 9087.30, 9132.49, 9073.94, 9375.47, 9252.28, 9428.33, 9277.97, 9278.81, 9240.35, 9276.50, 9243.61, 9243.21, 9192.84, 9132.23, 9151.39, 9159.04, 9185.82, 9164.23, 9374.89, 9525.36, 9581.07, 9536.89, 9677.11, 9905.17, 10990.87, 10912.82, 11100.47, 11111.21, 11323.47, 11759.59, 11053.61, 11246.35, 11205.89, 11747.02, 11779.77, 11601.47, 11754.05, 11675.74, 11878.11, 11410.53, 11584.93, 11784.14, 11768.87, 11865.70, 11892.80, 12254.40, 11991.23, 11758.28.
|
[Bitcoin Technical Analysis for 2020-08-19]
Volume: 24502851117, RSI (14-day): 58.75, 50-day EMA: 10741.54, 200-day EMA: 9353.36
[Wider Market Context]
Gold Price: 1958.70, Gold RSI: 54.67
Oil Price: 42.93, Oil RSI: 61.10
[Recent News (last 7 days)]
Riot Supercharges Mining Ops With 8,000 More Bitmain Rigs as Bitcoin Price Soars: Riot Blockchain is buying 8,000 additional S19 Pro Antminers from BitmainTech PTE as the publicly traded company looks to compete in a bitcoin mining scene getting more difficult by the day.
• Miners are flocking to take advantage ofbitcoin'srecent price surge. But they can only do so by deploying massive operations, as evidenced byall-time high network difficultyrates andrecent rig acquisitions.
• Once fully online in early 2021, the rigs will vault Riot Blockchain’s hashrate – the computing power dedicated to mining bitcoin blocks – well above 1 exahash per second, according to a Mondaypress release.
• Riot Blockchain says it will have 15,040 deployed rigs posting 1.45 exashashes per second and consuming 47 megawatts of energy once it installs the Antminers.
• But that day won’t come until next April at the earliest. Bitmain will begin delivering 2,000 S19 Pro Antminers per month starting in January 2021.
• Riot is spending $17.7 million on the rigs. It’s a bulk discount that Riot says comes in spite of bitcoin’s rocketing valuation.
• “With our current miner deployment schedule, we anticipate that based upon current factors, Riot would achieve positive cash flow in late 2020,” Chairman Remo Mancini said in the statement.
• Riot Supercharges Mining Ops With 8,000 More Bitmain Rigs as Bitcoin Price Soars
• Riot Supercharges Mining Ops With 8,000 More Bitmain Rigs as Bitcoin Price Soars
• Riot Supercharges Mining Ops With 8,000 More Bitmain Rigs as Bitcoin Price Soars
• Riot Supercharges Mining Ops With 8,000 More Bitmain Rigs as Bitcoin Price Soars || Riot Supercharges Mining Ops With 8,000 More Bitmain Rigs as Bitcoin Price Soars: Riot Blockchain is buying 8,000 additional S19 Pro Antminers from BitmainTech PTE as the publicly traded company looks to compete in a bitcoin mining scene getting more difficult by the day.
• Miners are flocking to take advantage ofbitcoin'srecent price surge. But they can only do so by deploying massive operations, as evidenced byall-time high network difficultyrates andrecent rig acquisitions.
• Once fully online in early 2021, the rigs will vault Riot Blockchain’s hashrate – the computing power dedicated to mining bitcoin blocks – well above 1 exahash per second, according to a Mondaypress release.
• Riot Blockchain says it will have 15,040 deployed rigs posting 1.45 exashashes per second and consuming 47 megawatts of energy once it installs the Antminers.
• But that day won’t come until next April at the earliest. Bitmain will begin delivering 2,000 S19 Pro Antminers per month starting in January 2021.
• Riot is spending $17.7 million on the rigs. It’s a bulk discount that Riot says comes in spite of bitcoin’s rocketing valuation.
• “With our current miner deployment schedule, we anticipate that based upon current factors, Riot would achieve positive cash flow in late 2020,” Chairman Remo Mancini said in the statement.
• Riot Supercharges Mining Ops With 8,000 More Bitmain Rigs as Bitcoin Price Soars
• Riot Supercharges Mining Ops With 8,000 More Bitmain Rigs as Bitcoin Price Soars
• Riot Supercharges Mining Ops With 8,000 More Bitmain Rigs as Bitcoin Price Soars
• Riot Supercharges Mining Ops With 8,000 More Bitmain Rigs as Bitcoin Price Soars || Riot Supercharges Mining Ops With 8,000 More Bitmain Rigs as Bitcoin Price Soars: Riot Blockchain is buying 8,000 additional S19 Pro Antminers from BitmainTech PTE as the publicly traded company looks to compete in a bitcoin mining scene getting more difficult by the day. Miners are flocking to take advantage of bitcoin's recent price surge. But they can only do so by deploying massive operations, as evidenced by all-time high network difficulty rates and recent rig acquisitions . Once fully online in early 2021, the rigs will vault Riot Blockchain’s hashrate – the computing power dedicated to mining bitcoin blocks – well above 1 exahash per second, according to a Monday press release. Riot Blockchain says it will have 15,040 deployed rigs posting 1.45 exashashes per second and consuming 47 megawatts of energy once it installs the Antminers. But that day won’t come until next April at the earliest. Bitmain will begin delivering 2,000 S19 Pro Antminers per month starting in January 2021. Riot is spending $17.7 million on the rigs. It’s a bulk discount that Riot says comes in spite of bitcoin’s rocketing valuation. “With our current miner deployment schedule, we anticipate that based upon current factors, Riot would achieve positive cash flow in late 2020,” Chairman Remo Mancini said in the statement. Related Stories Riot Supercharges Mining Ops With 8,000 More Bitmain Rigs as Bitcoin Price Soars Riot Supercharges Mining Ops With 8,000 More Bitmain Rigs as Bitcoin Price Soars Riot Supercharges Mining Ops With 8,000 More Bitmain Rigs as Bitcoin Price Soars Riot Supercharges Mining Ops With 8,000 More Bitmain Rigs as Bitcoin Price Soars View comments || Coin Creatour dévoile une plateforme de gestion unifiée des actifs pour les téléphones cellulaires: Ce système de pointe simplifie les paiements entre les monnaies fiduciaires et les cryptomonnaies et intègre le premier processus d'échange de propriétés intellectuelles établi grâce à la technologie de la chaîne de blocs
Toronto, Ontario--(Newsfile Corp. - 18 août 2020) - Coin Creatour, un développeur de programmes de technologies financières, a dévoilé aujourd'hui un système intégré pour gérer aisément et de manière sécuritaire les monnaies fiduciaires et les cryptomonnaies ainsi que la propriété intellectuelle au moyen d'un téléphone cellulaire. Le système est alimenté par trois programmes distincts qui fonctionnent collectivement pour gérer efficacement les actifs monétaires et les biens intellectuels des utilisateurs. Les programmes offrent aux utilisateurs la possibilité de gérer leurs actifs et leurs biens par des canaux centralisés et décentralisés, qui sont tous deux protégés par la technologie de la chaîne de blocs.
« Chez Coin Creatour, nous faisons progresser notre entreprise en créant trois groupes d'activités uniques, chacun dirigé par un vétéran de l'industrie et orienté vers un chemin menant au succès, a déclaré Bill Hong Ye, fondateur et président de Coin Creatour Inc. Ensemble, les trois programmes créent une plateforme simple et sécuritaire permettant aux utilisateurs de gérer des capitaux tels que des actifs numériques et des idées, des biens qui sont très sensibles, précieux et susceptibles d'être volés dans l'environnement actuel, où les menaces à la cybersécurité sont de plus en plus courantes. »
Les trois composantes de cette plateforme sont RewPay, QRFlash et IPex. Ces trois programmes ont été développés avec Lightning Network et Raiden Network, deux des plus importants fournisseurs de technologie de transactions en cryptomonnaie.
RewPay
RewPay est un portail de services financiers personnels pour téléphones cellulaires qui permet aux utilisateurs de gérer facilement les paiements, les transactions et les transferts d'actifs numériques et de monnaies fiduciaires. Il s'agit notamment de transmissions de monnaies fiduciaires vers des cryptomonnaies, et inversement, par l'intermédiaire de canaux d'échange sécurisés avec des commerçants et autres utilisateurs autorisés. RewPay propose également des tutoriels sur la finance et une plateforme de messagerie instantanée.
QRFlash
QRFlash permet aux utilisateurs d'effectuer des achats en devises étrangères avec leurs actifs numériques, notamment Bitcoin et Litecoin, grâce à un programme de carte crypto virtuelle. Il relie de manière transparente les détenteurs de carte crypto aux marchands de monnaies fiduciaires par l'intermédiaire du Lightning Network.
« La combinaison de RewPay et de QRFlash offre aux utilisateurs la possibilité de transférer de l'argent sans effort au moyen d'instruments d'échange, une étape qui peut être intimidante pour ceux qui ont une expérience minimale des cryptomonnaies, explique Arthur Huang, chef de projet chez Coin Creatour Inc. Le fait de rendre les transactions cryptocurrentielles accessibles à tous est un pilier essentiel de notre mission, qui consiste à fournir des outils de gestion financière sécuritaires, simples et innovants. »
IPex
IPex est la première plateforme d'échange de propriétés intellectuelles (PI) développée au moyen de la technologie de la chaîne de blocs en Amérique du Nord. Elle sert de canal sécurisé pour le transfert de biens de propriété intellectuelle. Le programme est actuellement centré sur la propriété des biens dans le secteur de la technologie, y compris les progrès dans le domaine de l'intelligence artificielle, mais il inclura d'autres secteurs à l'avenir.
« La capacité à protéger et à monétiser la propriété intellectuelle n'a jamais été aussi importante que sur les marchés internationaux hostiles d'aujourd'hui, et avec IPex, nous utilisons une technologie de chaîne de blocs pour mettre en place le premier échange de PI en Amérique du Nord, a poursuivi M. Huang. Notre nouvelle dépendance à l'égard du télétravail et des bureaux à distance crée un besoin de canaux protégés qui permettront de partager les idées et la propriété des créations. Grâce à IPex, les organisations et les particuliers peuvent être rassurés quant à la protection de leurs biens. »
RewPay est opérationnel et disponible sur l'App Store IOS d'Apple, et QRFlash devrait suivre sous peu. IPex en est à la phase finale des tests bêta et sera disponible pour les utilisateurs au quatrième trimestre de 2020.
À propos de Coin Creatour
Coin Creatour est un pionnier en termes de développement de technologies financières basé à Toronto, au Canada. L'entreprise se consacre à l'établissement d'une communauté d'utilisateurs connectés par des plateformes sécurisées qui donnent accès à une variété de services financiers, grâce à une plateforme mobile centralisée et décentralisée comprenant des paiements, des achats, des investissements et l'échange d'actifs numériques et de monnaies fiduciaires. Pour obtenir de plus amples renseignements, veuillez visiter lewww.coincreatour.com.
-30-
Personnes-ressources :
Pour les demandes des médias :Winville LarcherChef des relations avec les investisseurs et l'industrieCourriel :info@coincreatour.com
Pour les demandes des investisseurs :Arthur HuangGestionnaire de projet, Coin Creatour inc.Courriel :info@coincreatour.com
To view the source version of this press release, please visithttps://www.newsfilecorp.com/release/62069 || Coin Creatour dévoile une plateforme de gestion unifiée des actifs pour les téléphones cellulaires: Ce système de pointe simplifie les paiements entre les monnaies fiduciaires et les cryptomonnaies et intègre le premier processus d'échange de propriétés intellectuelles établi grâce à la technologie de la chaîne de blocs Toronto, Ontario--(Newsfile Corp. - 18 août 2020) - Coin Creatour, un développeur de programmes de technologies financières, a dévoilé aujourd'hui un système intégré pour gérer aisément et de manière sécuritaire les monnaies fiduciaires et les cryptomonnaies ainsi que la propriété intellectuelle au moyen d'un téléphone cellulaire. Le système est alimenté par trois programmes distincts qui fonctionnent collectivement pour gérer efficacement les actifs monétaires et les biens intellectuels des utilisateurs. Les programmes offrent aux utilisateurs la possibilité de gérer leurs actifs et leurs biens par des canaux centralisés et décentralisés, qui sont tous deux protégés par la technologie de la chaîne de blocs. « Chez Coin Creatour, nous faisons progresser notre entreprise en créant trois groupes d'activités uniques, chacun dirigé par un vétéran de l'industrie et orienté vers un chemin menant au succès, a déclaré Bill Hong Ye, fondateur et président de Coin Creatour Inc. Ensemble, les trois programmes créent une plateforme simple et sécuritaire permettant aux utilisateurs de gérer des capitaux tels que des actifs numériques et des idées, des biens qui sont très sensibles, précieux et susceptibles d'être volés dans l'environnement actuel, où les menaces à la cybersécurité sont de plus en plus courantes. » Les trois composantes de cette plateforme sont RewPay, QRFlash et IPex. Ces trois programmes ont été développés avec Lightning Network et Raiden Network, deux des plus importants fournisseurs de technologie de transactions en cryptomonnaie. Story continues RewPay RewPay est un portail de services financiers personnels pour téléphones cellulaires qui permet aux utilisateurs de gérer facilement les paiements, les transactions et les transferts d'actifs numériques et de monnaies fiduciaires. Il s'agit notamment de transmissions de monnaies fiduciaires vers des cryptomonnaies, et inversement, par l'intermédiaire de canaux d'échange sécurisés avec des commerçants et autres utilisateurs autorisés. RewPay propose également des tutoriels sur la finance et une plateforme de messagerie instantanée. QRFlash QRFlash permet aux utilisateurs d'effectuer des achats en devises étrangères avec leurs actifs numériques, notamment Bitcoin et Litecoin, grâce à un programme de carte crypto virtuelle. Il relie de manière transparente les détenteurs de carte crypto aux marchands de monnaies fiduciaires par l'intermédiaire du Lightning Network. « La combinaison de RewPay et de QRFlash offre aux utilisateurs la possibilité de transférer de l'argent sans effort au moyen d'instruments d'échange, une étape qui peut être intimidante pour ceux qui ont une expérience minimale des cryptomonnaies, explique Arthur Huang, chef de projet chez Coin Creatour Inc. Le fait de rendre les transactions cryptocurrentielles accessibles à tous est un pilier essentiel de notre mission, qui consiste à fournir des outils de gestion financière sécuritaires, simples et innovants. » IPex IPex est la première plateforme d'échange de propriétés intellectuelles (PI) développée au moyen de la technologie de la chaîne de blocs en Amérique du Nord. Elle sert de canal sécurisé pour le transfert de biens de propriété intellectuelle. Le programme est actuellement centré sur la propriété des biens dans le secteur de la technologie, y compris les progrès dans le domaine de l'intelligence artificielle, mais il inclura d'autres secteurs à l'avenir. « La capacité à protéger et à monétiser la propriété intellectuelle n'a jamais été aussi importante que sur les marchés internationaux hostiles d'aujourd'hui, et avec IPex, nous utilisons une technologie de chaîne de blocs pour mettre en place le premier échange de PI en Amérique du Nord, a poursuivi M. Huang. Notre nouvelle dépendance à l'égard du télétravail et des bureaux à distance crée un besoin de canaux protégés qui permettront de partager les idées et la propriété des créations. Grâce à IPex, les organisations et les particuliers peuvent être rassurés quant à la protection de leurs biens. » RewPay est opérationnel et disponible sur l'App Store IOS d'Apple, et QRFlash devrait suivre sous peu. IPex en est à la phase finale des tests bêta et sera disponible pour les utilisateurs au quatrième trimestre de 2020. À propos de Coin Creatour Coin Creatour est un pionnier en termes de développement de technologies financières basé à Toronto, au Canada. L'entreprise se consacre à l'établissement d'une communauté d'utilisateurs connectés par des plateformes sécurisées qui donnent accès à une variété de services financiers, grâce à une plateforme mobile centralisée et décentralisée comprenant des paiements, des achats, des investissements et l'échange d'actifs numériques et de monnaies fiduciaires. Pour obtenir de plus amples renseignements, veuillez visiter le www.coincreatour.com . -30- Personnes-ressources : Pour les demandes des médias : Winville Larcher Chef des relations avec les investisseurs et l'industrie Courriel : info@coincreatour.com Pour les demandes des investisseurs : Arthur Huang Gestionnaire de projet, Coin Creatour inc. Courriel : info@coincreatour.com To view the source version of this press release, please visit https://www.newsfilecorp.com/release/62069 || ALT 5 Sigma Digital Instrument Market Summary for BTC, ETH, LTC, BCH: NEW YORK, NY / ACCESSWIRE / August 18, 2020 /ALT 5 Sigma Inc. an emerging leader in blockchain powered financial platforms provides its daily digital instruments market summary for Bitcoin (BTC/USD), Ether (ETH/USD), Litecoin (LTC/USD).
Real-Time Market Data is available atwww.alt5pro.comand Real-Time Market Data feed is also available atwww.alt5sigma.comALT 5 Sigma Digital Instrument Market Summary for BTC, ETH, LTC, BC
About ALT 5 Sigma Inc.
ALT 5 is a fintech company specializing in the development and deployment of digital assets trading and exchange platforms. Alt 5 was founded by financial industry specialists out of the necessity to provide the digital asset economy with security, accessibility, transparency and compliance.
ALT 5 provides its clients the ability to buy, sell and hold digital assets in a safe and secure environment deployed with the best practices of the financial industry. ALT 5's products and services are available to Banks, Broker Dealers, Funds, Family Offices, Professional Traders, Retail Traders, Digital Asset Exchanges, Digital Asset Brokers, Blockchain Developers, and Financial Information Providers.
ALT 5's digital asset custodian services are secured by GardaWorld. GardaWorld is the world's largest privately-owned business solutions and security services company, offering cash management services.
For more information, visitwww.alt5sigma.com.
Contact:
Andre BeauchesneTel. 1-800-204-6203info@alt5sigma.com
For more information on ALT 5 Pay, visitwww.alt5pay.comFor more information on ALT 5 Pro, visitwww.alt5pro.com
SOURCE:ALT 5 Sigma Inc.
View source version on accesswire.com:https://www.accesswire.com/602288/ALT-5-Sigma-Digital-Instrument-Market-Summary-for-BTC-ETH-LTC-BCH || ALT 5 Sigma Digital Instrument Market Summary for BTC, ETH, LTC, BCH: NEW YORK, NY / ACCESSWIRE / August 18, 2020 / ALT 5 Sigma Inc. an emerging leader in blockchain powered financial platforms provides its daily digital instruments market summary for Bitcoin (BTC/USD), Ether (ETH/USD), Litecoin (LTC/USD). Real-Time Market Data is available at www.alt5pro.com and Real-Time Market Data feed is also available at www.alt5sigma.com ALT 5 Sigma Digital Instrument Market Summary for BTC, ETH, LTC, BC About ALT 5 Sigma Inc. ALT 5 is a fintech company specializing in the development and deployment of digital assets trading and exchange platforms. Alt 5 was founded by financial industry specialists out of the necessity to provide the digital asset economy with security, accessibility, transparency and compliance. ALT 5 provides its clients the ability to buy, sell and hold digital assets in a safe and secure environment deployed with the best practices of the financial industry. ALT 5's products and services are available to Banks, Broker Dealers, Funds, Family Offices, Professional Traders, Retail Traders, Digital Asset Exchanges, Digital Asset Brokers, Blockchain Developers, and Financial Information Providers. ALT 5's digital asset custodian services are secured by GardaWorld. GardaWorld is the world's largest privately-owned business solutions and security services company, offering cash management services. For more information, visit www.alt5sigma.com . Contact: Andre Beauchesne Tel. 1-800-204-6203 info@alt5sigma.com For more information on ALT 5 Pay, visit www.alt5pay.com For more information on ALT 5 Pro, visit www.alt5pro.com SOURCE: ALT 5 Sigma Inc. View source version on accesswire.com: https://www.accesswire.com/602288/ALT-5-Sigma-Digital-Instrument-Market-Summary-for-BTC-ETH-LTC-BCH || ALT 5 Sigma Digital Instrument Market Summary for BTC, ETH, LTC, BCH: NEW YORK, NY / ACCESSWIRE / August 18, 2020 /ALT 5 Sigma Inc. an emerging leader in blockchain powered financial platforms provides its daily digital instruments market summary for Bitcoin (BTC/USD), Ether (ETH/USD), Litecoin (LTC/USD).
Real-Time Market Data is available atwww.alt5pro.comand Real-Time Market Data feed is also available atwww.alt5sigma.comALT 5 Sigma Digital Instrument Market Summary for BTC, ETH, LTC, BC
About ALT 5 Sigma Inc.
ALT 5 is a fintech company specializing in the development and deployment of digital assets trading and exchange platforms. Alt 5 was founded by financial industry specialists out of the necessity to provide the digital asset economy with security, accessibility, transparency and compliance.
ALT 5 provides its clients the ability to buy, sell and hold digital assets in a safe and secure environment deployed with the best practices of the financial industry. ALT 5's products and services are available to Banks, Broker Dealers, Funds, Family Offices, Professional Traders, Retail Traders, Digital Asset Exchanges, Digital Asset Brokers, Blockchain Developers, and Financial Information Providers.
ALT 5's digital asset custodian services are secured by GardaWorld. GardaWorld is the world's largest privately-owned business solutions and security services company, offering cash management services.
For more information, visitwww.alt5sigma.com.
Contact:
Andre BeauchesneTel. 1-800-204-6203info@alt5sigma.com
For more information on ALT 5 Pay, visitwww.alt5pay.comFor more information on ALT 5 Pro, visitwww.alt5pro.com
SOURCE:ALT 5 Sigma Inc.
View source version on accesswire.com:https://www.accesswire.com/602288/ALT-5-Sigma-Digital-Instrument-Market-Summary-for-BTC-ETH-LTC-BCH || Market Wrap: Bitcoin Slides to $11.8K; Uniswap at $7M in Monthly ETH Fees: Bitcoin’s prices were off from Monday’s high. Meanwhile, high fees on Ethereum helped decentralized exchange Uniswap rake in $7 million over the past month.
• Bitcoin(BTC) trading around $12,002 as of 20:00 UTC (4 p.m. ET). Slipping 2.8% over the previous 24 hours.
• Bitcoin’s 24-hour range: $11,825-$12,412
• BTC below its 10-day and 50-day moving averages, a bearish signal for market technicians.
Read More:Bitcoin Mining Pools See Hashrate Drop Amid Rainstorms in China
After hitting a 2020 high Monday, bitcoin dipped to as low as $11,825 on spot exchanges such as Coinbase on Tuesday. Seychelles-based BitMEX saw plenty of action during this price rise and fall, as both long and short traders were wiped out in automatic liquidations, the crypto equivalent of a margin call. During Monday’s sharp price rise, BitMEX liquidated short traders by as much as $10 million in one hour. During Tuesday’s decline, long traders were wiped out at a rate of $6.7 million in an hour.
Related:Market Wrap: Bitcoin Sinks to $11.6K as Ether’s Gas Keeps Rising
Many traders, including Andrew Tu of quant trading firm Efficient Frontier, see $12,000 as “resistance” or a price level that is tough to overcome but when it is, bitcoin can break to higher territory.
“Bitcoin finally broke its $12,000 resistance Monday,” said Tu. “Now it’s on to $13,000 and $14,000 as resistance, assuming that we can hold above $12,000.”
Bitcoin’s price was just under $12,000 as of press time after the selling pressure earlier.
Michael Rabkin of Chicago-based trading firm DV Chain told CoinDesk both retail and institutional interests are fueling fresh bitcoin highs, and the asset is headed higher. “Bitcoin’s popularity is growing in the mainstream media and with traditional investment firms as the U.S. continues its stimulus,” he told CoinDesk.“Even though this can’t last forever there is no end in sight, so people are looking for alternatives” to the U.S. dollar, Rabkin added.
Related:Stablecoin Demand May Drop if Traders Abandon Bitcoin ‘Cash and Carry’ Strategy
Indeed, the U.S. Dollar Index, a measure of the greenback’s strength relative to a basket of other currencies,is at an over-two-year low Tuesdayas the coronavirus-inflicted global economy continues to cause problems for the American economy.
Every time bitcoin’s price moves higher over the remaining months of an uncertain 2020, there will be renewed investor interest in crypto, added Efficient Frontier’s Tu. “It’s all part of this current bull cycle we’re in,” Tu said. “It’s a positive feedback cycle in which double-digit rises cause more retail and professional investors to jump in, which begets further rises.”
Read More:Bitcoin Holding Sentiment Strongest in Nearly Two Years
Ether (ETH), the second-largest cryptocurrency by market capitalization, was down Tuesday at around $424 and slipping 2.7% in 24 hours as of 20:00 UTC (4:00 p.m. ET).
Read More:DeFi-Yield-Hunting Token YFI Explodes to $11K From $32 in One Month
The decentralized exchange, or DEX, Uniswap V2 has crossed $7 million in fees collected over the past month. It is currently number one on the Ethereum network, according tofee tracker ETH Gas Station. The DEX also dominates the market for trading volume, at $233 million in the past 24 hours and over 60% of market share.
George Clayton, managing partner of alternative asset firm Cryptanalysis Capital, says Ethereum’s growth is “crazy.” He noted the second company on Ethereum’s fee rankings, Tether, rakes in $6.3 million in fees per month andis deployed on other blockchains. “Tether is the only major project to spread out on other blockchains,” Clayton said. “I’m a bit surprised others haven’t followed yet given Ethereum’s gas problems. Something has to give.”
Digital assets on theCoinDesk 20are mostly in the red Tuesday. Notable winners as of 20:00 UTC (4:00 p.m. ET):
• basic attention token(BAT) + 13.9%
• nem(XEM) + 4.5%
Read More:Elliptic Adds Monitoring Support for Binance Chain and BNB
Notable losers as of 20:00 UTC (4:00 p.m. ET):
• chainlink(LINK) – 13.6%
• bitcoin gold(BTG) – 7.6%
• tezos(XTZ) – 5.4%
Read More:Chainlink Up Nearly 1,000% Since ‘Black Thursday’ Crash
Equities:
• Asia’s Nikkei 225 closed in the red 0.20% astensions between the U.S. and China were cause for investor concern in Tokyo.
• In Europe, the FTSE 100 ended the day slipping 0.50% asconcerns about rising coronavirus cases spooked investors.
• The United States’ S&P 500 gained 0.30% to anall-time high of 3,386.15 as the index regained all of its losses from March's crash.
Read More:Dust Attacks Make a Mess in Bitcoin Wallets, but There Could Be a Fix
Commodities:
• Oil is down 0.37%. Price per barrel of West Texas Intermediate crude: $42.57.
• Gold was in the green 1% and at $2,001 as of press time.
Read More:The OCC’s Crypto Custody Letter Was Years in the Making
Treasurys:
• U.S. Treasury bonds all slipped Tuesday. Yields, which move in the opposite direction as price, were down most on the two-year, in the red 5.3%.
Read More:Bitcoin Mining Pools See Hashrate Drop Amid Rainstorms in China
• Market Wrap: Bitcoin Slides to $11.8K; Uniswap at $7M in Monthly ETH Fees
• Market Wrap: Bitcoin Slides to $11.8K; Uniswap at $7M in Monthly ETH Fees || Market Wrap: Bitcoin Slides to $11.8K; Uniswap at $7M in Monthly ETH Fees: Bitcoin’s prices were off from Monday’s high. Meanwhile, high fees on Ethereum helped decentralized exchange Uniswap rake in $7 million over the past month.
• Bitcoin(BTC) trading around $12,002 as of 20:00 UTC (4 p.m. ET). Slipping 2.8% over the previous 24 hours.
• Bitcoin’s 24-hour range: $11,825-$12,412
• BTC below its 10-day and 50-day moving averages, a bearish signal for market technicians.
Read More:Bitcoin Mining Pools See Hashrate Drop Amid Rainstorms in China
After hitting a 2020 high Monday, bitcoin dipped to as low as $11,825 on spot exchanges such as Coinbase on Tuesday. Seychelles-based BitMEX saw plenty of action during this price rise and fall, as both long and short traders were wiped out in automatic liquidations, the crypto equivalent of a margin call. During Monday’s sharp price rise, BitMEX liquidated short traders by as much as $10 million in one hour. During Tuesday’s decline, long traders were wiped out at a rate of $6.7 million in an hour.
Related:Market Wrap: Bitcoin Sinks to $11.6K as Ether’s Gas Keeps Rising
Many traders, including Andrew Tu of quant trading firm Efficient Frontier, see $12,000 as “resistance” or a price level that is tough to overcome but when it is, bitcoin can break to higher territory.
“Bitcoin finally broke its $12,000 resistance Monday,” said Tu. “Now it’s on to $13,000 and $14,000 as resistance, assuming that we can hold above $12,000.”
Bitcoin’s price was just under $12,000 as of press time after the selling pressure earlier.
Michael Rabkin of Chicago-based trading firm DV Chain told CoinDesk both retail and institutional interests are fueling fresh bitcoin highs, and the asset is headed higher. “Bitcoin’s popularity is growing in the mainstream media and with traditional investment firms as the U.S. continues its stimulus,” he told CoinDesk.“Even though this can’t last forever there is no end in sight, so people are looking for alternatives” to the U.S. dollar, Rabkin added.
Related:Stablecoin Demand May Drop if Traders Abandon Bitcoin ‘Cash and Carry’ Strategy
Indeed, the U.S. Dollar Index, a measure of the greenback’s strength relative to a basket of other currencies,is at an over-two-year low Tuesdayas the coronavirus-inflicted global economy continues to cause problems for the American economy.
Every time bitcoin’s price moves higher over the remaining months of an uncertain 2020, there will be renewed investor interest in crypto, added Efficient Frontier’s Tu. “It’s all part of this current bull cycle we’re in,” Tu said. “It’s a positive feedback cycle in which double-digit rises cause more retail and professional investors to jump in, which begets further rises.”
Read More:Bitcoin Holding Sentiment Strongest in Nearly Two Years
Ether (ETH), the second-largest cryptocurrency by market capitalization, was down Tuesday at around $424 and slipping 2.7% in 24 hours as of 20:00 UTC (4:00 p.m. ET).
Read More:DeFi-Yield-Hunting Token YFI Explodes to $11K From $32 in One Month
The decentralized exchange, or DEX, Uniswap V2 has crossed $7 million in fees collected over the past month. It is currently number one on the Ethereum network, according tofee tracker ETH Gas Station. The DEX also dominates the market for trading volume, at $233 million in the past 24 hours and over 60% of market share.
George Clayton, managing partner of alternative asset firm Cryptanalysis Capital, says Ethereum’s growth is “crazy.” He noted the second company on Ethereum’s fee rankings, Tether, rakes in $6.3 million in fees per month andis deployed on other blockchains. “Tether is the only major project to spread out on other blockchains,” Clayton said. “I’m a bit surprised others haven’t followed yet given Ethereum’s gas problems. Something has to give.”
Digital assets on theCoinDesk 20are mostly in the red Tuesday. Notable winners as of 20:00 UTC (4:00 p.m. ET):
• basic attention token(BAT) + 13.9%
• nem(XEM) + 4.5%
Read More:Elliptic Adds Monitoring Support for Binance Chain and BNB
Notable losers as of 20:00 UTC (4:00 p.m. ET):
• chainlink(LINK) – 13.6%
• bitcoin gold(BTG) – 7.6%
• tezos(XTZ) – 5.4%
Read More:Chainlink Up Nearly 1,000% Since ‘Black Thursday’ Crash
Equities:
• Asia’s Nikkei 225 closed in the red 0.20% astensions between the U.S. and China were cause for investor concern in Tokyo.
• In Europe, the FTSE 100 ended the day slipping 0.50% asconcerns about rising coronavirus cases spooked investors.
• The United States’ S&P 500 gained 0.30% to anall-time high of 3,386.15 as the index regained all of its losses from March's crash.
Read More:Dust Attacks Make a Mess in Bitcoin Wallets, but There Could Be a Fix
Commodities:
• Oil is down 0.37%. Price per barrel of West Texas Intermediate crude: $42.57.
• Gold was in the green 1% and at $2,001 as of press time.
Read More:The OCC’s Crypto Custody Letter Was Years in the Making
Treasurys:
• U.S. Treasury bonds all slipped Tuesday. Yields, which move in the opposite direction as price, were down most on the two-year, in the red 5.3%.
Read More:Bitcoin Mining Pools See Hashrate Drop Amid Rainstorms in China
• Market Wrap: Bitcoin Slides to $11.8K; Uniswap at $7M in Monthly ETH Fees
• Market Wrap: Bitcoin Slides to $11.8K; Uniswap at $7M in Monthly ETH Fees || Market Wrap: Bitcoin Slides to $11.8K; Uniswap at $7M in Monthly ETH Fees: Bitcoin’s prices were off from Monday’s high. Meanwhile, high fees on Ethereum helped decentralized exchange Uniswap rake in $7 million over the past month. Bitcoin (BTC) trading around $12,002 as of 20:00 UTC (4 p.m. ET). Slipping 2.8% over the previous 24 hours. Bitcoin’s 24-hour range: $11,825-$12,412 BTC below its 10-day and 50-day moving averages, a bearish signal for market technicians. Read More: Bitcoin Mining Pools See Hashrate Drop Amid Rainstorms in China After hitting a 2020 high Monday , bitcoin dipped to as low as $11,825 on spot exchanges such as Coinbase on Tuesday. Seychelles-based BitMEX saw plenty of action during this price rise and fall, as both long and short traders were wiped out in automatic liquidations, the crypto equivalent of a margin call. During Monday’s sharp price rise, BitMEX liquidated short traders by as much as $10 million in one hour. During Tuesday’s decline, long traders were wiped out at a rate of $6.7 million in an hour. Related: Market Wrap: Bitcoin Sinks to $11.6K as Ether’s Gas Keeps Rising Many traders, including Andrew Tu of quant trading firm Efficient Frontier, see $12,000 as “resistance” or a price level that is tough to overcome but when it is, bitcoin can break to higher territory. “Bitcoin finally broke its $12,000 resistance Monday,” said Tu. “Now it’s on to $13,000 and $14,000 as resistance, assuming that we can hold above $12,000.” Bitcoin’s price was just under $12,000 as of press time after the selling pressure earlier. Michael Rabkin of Chicago-based trading firm DV Chain told CoinDesk both retail and institutional interests are fueling fresh bitcoin highs, and the asset is headed higher. “Bitcoin’s popularity is growing in the mainstream media and with traditional investment firms as the U.S. continues its stimulus,” he told CoinDesk.“Even though this can’t last forever there is no end in sight, so people are looking for alternatives” to the U.S. dollar, Rabkin added. Related: Stablecoin Demand May Drop if Traders Abandon Bitcoin ‘Cash and Carry’ Strategy Indeed, the U.S. Dollar Index, a measure of the greenback’s strength relative to a basket of other currencies, is at an over-two-year low Tuesday as the coronavirus-inflicted global economy continues to cause problems for the American economy. Every time bitcoin’s price moves higher over the remaining months of an uncertain 2020, there will be renewed investor interest in crypto, added Efficient Frontier’s Tu. “It’s all part of this current bull cycle we’re in,” Tu said. “It’s a positive feedback cycle in which double-digit rises cause more retail and professional investors to jump in, which begets further rises.” Story continues Read More: Bitcoin Holding Sentiment Strongest in Nearly Two Years Uniswap first in ETH fees Ether ( ETH ), the second-largest cryptocurrency by market capitalization, was down Tuesday at around $424 and slipping 2.7% in 24 hours as of 20:00 UTC (4:00 p.m. ET). Read More: DeFi-Yield-Hunting Token YFI Explodes to $11K From $32 in One Month The decentralized exchange, or DEX, Uniswap V2 has crossed $7 million in fees collected over the past month. It is currently number one on the Ethereum network, according to fee tracker ETH Gas Station . The DEX also dominates the market for trading volume, at $233 million in the past 24 hours and over 60% of market share. George Clayton, managing partner of alternative asset firm Cryptanalysis Capital, says Ethereum’s growth is “crazy.” He noted the second company on Ethereum’s fee rankings, Tether, rakes in $6.3 million in fees per month and is deployed on other blockchains . “Tether is the only major project to spread out on other blockchains,” Clayton said. “I’m a bit surprised others haven’t followed yet given Ethereum’s gas problems. Something has to give.” Other markets Digital assets on the CoinDesk 20 are mostly in the red Tuesday. Notable winners as of 20:00 UTC (4:00 p.m. ET): basic attention token (BAT) + 13.9% nem (XEM) + 4.5% Read More: Elliptic Adds Monitoring Support for Binance Chain and BNB Notable losers as of 20:00 UTC (4:00 p.m. ET): chainlink (LINK) – 13.6% bitcoin gold (BTG) – 7.6% tezos (XTZ) – 5.4% Read More: Chainlink Up Nearly 1,000% Since ‘Black Thursday’ Crash Equities: Asia’s Nikkei 225 closed in the red 0.20% as tensions between the U.S. and China were cause for investor concern in Tokyo . In Europe, the FTSE 100 ended the day slipping 0.50% as concerns about rising coronavirus cases spooked investors . The United States’ S&P 500 gained 0.30% to an all-time high of 3,386.15 as the index regained all of its losses from March's crash . Read More: Dust Attacks Make a Mess in Bitcoin Wallets, but There Could Be a Fix Commodities: Oil is down 0.37%. Price per barrel of West Texas Intermediate crude: $42.57. Gold was in the green 1% and at $2,001 as of press time. Read More: The OCC’s Crypto Custody Letter Was Years in the Making Treasurys: U.S. Treasury bonds all slipped Tuesday. Yields, which move in the opposite direction as price, were down most on the two-year, in the red 5.3%. Read More: Bitcoin Mining Pools See Hashrate Drop Amid Rainstorms in China Related Stories Market Wrap: Bitcoin Slides to $11.8K; Uniswap at $7M in Monthly ETH Fees Market Wrap: Bitcoin Slides to $11.8K; Uniswap at $7M in Monthly ETH Fees View comments || How Excess Capital and Low Interest Rates Reshaped Silicon Valley, Feat. Chris McCann: A conversation with a VC about changes in fintech, crypto and how public market trends shape the startup scene.
Formore episodesand free early access before our regular 3 p.m. Eastern time releases, subscribe withApple Podcasts,Spotify,Pocketcasts,Google Podcasts,Castbox,Stitcher,RadioPublica,iHeartRadioorRSS.
This episode is sponsored byCrypto.com,BitstampandNexo.io.
• Everyone turns bullish as S&P 500 nears all-time highs
• Emerging market currencies are floundering
• Bitcoinholding sentiment highest in two years
Related:
See also:What a Professional Trader Thinks of the Fed, Robinhood and Real Estate, Feat. Tony Greer
Chris was previously the founder of Startup Digest, building it to 1 million subscriptions long before email newsletters were a thing. He spent four years building the community program at Greylock before launching his own venture firm.
In this conversation, Chris and NLW discuss:
• The relationship between monetary policy and startup finance
• What changes in startup financing have followed COVID-19
• What the emerging fintech stack looks like, outside of crypto
Find our guest online:Website:Race CapitalTwitter:@mccannatron
Related:Bitcoin News Roundup for Aug. 19, 2020
See also:How the Purpose of Public Markets Has Changed
Formore episodesand free early access before our regular 3 p.m. Eastern time releases, subscribe withApple Podcasts,Spotify,Pocketcasts,Google Podcasts,Castbox,Stitcher,RadioPublica,iHeartRadioorRSS.
• How Excess Capital and Low Interest Rates Reshaped Silicon Valley, Feat. Chris McCann
• How Excess Capital and Low Interest Rates Reshaped Silicon Valley, Feat. Chris McCann || How Excess Capital and Low Interest Rates Reshaped Silicon Valley, Feat. Chris McCann: A conversation with a VC about changes in fintech, crypto and how public market trends shape the startup scene. For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe with Apple Podcasts , Spotify , Pocketcasts , Google Podcasts , Castbox , Stitcher , RadioPublica , iHeartRadio or RSS . This episode is sponsored by Crypto.com , Bitstamp and Nexo.io . Today on the Brief: Everyone turns bullish as S&P 500 nears all-time highs Emerging market currencies are floundering Bitcoin holding sentiment highest in two years Related: See also: What a Professional Trader Thinks of the Fed, Robinhood and Real Estate, Feat. Tony Greer Our main conversation features Race Capital’s Chris McCann. Chris was previously the founder of Startup Digest, building it to 1 million subscriptions long before email newsletters were a thing. He spent four years building the community program at Greylock before launching his own venture firm. In this conversation, Chris and NLW discuss: The relationship between monetary policy and startup finance What changes in startup financing have followed COVID-19 What the emerging fintech stack looks like, outside of crypto Find our guest online: Website: Race Capital Twitter: @mccannatron Related: Bitcoin News Roundup for Aug. 19, 2020 See also: How the Purpose of Public Markets Has Changed For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe with Apple Podcasts , Spotify , Pocketcasts , Google Podcasts , Castbox , Stitcher , RadioPublica , iHeartRadio or RSS . Related Stories How Excess Capital and Low Interest Rates Reshaped Silicon Valley, Feat. Chris McCann How Excess Capital and Low Interest Rates Reshaped Silicon Valley, Feat. Chris McCann || Binance-Owned WazirX Announces DeFi Project With Matic: The Mumbai-based crypto exchange WazirX, one of the biggest in India, recently announced it is developing a decentralized finance (DeFi) product in partnership with Matic Network, a blockchain scalability platform. We are launching an automated market maker (AMM) protocol and partnering with Matic Network to launch the protocol, the exchange, a subsidiary of Binance, said in a blog post on Saturday. Automated market makers are algorithmic agents that make it easier to list and exchange cryptocurrencies without the help of an order book. Related: First Mover: Money Legos Turn 'Exuberant' as Chainlink Stripped of 'DeFi' AMM-based decentralized exchanges (DEXs) like Uniswap, which enable running of openly accessible, on-chain liquidity pools for different tokens, have witnessed staggering growth in trading volumes over the past few months. The DeFi movement has picked up globally and WazirX plans to make it easy for billions of Indians to participate in the DeFi ecosystem, WazirX said . Lowering the gas The exchange, however, has opted for Matic instead of Ethereum s network, which is currently dominating the DeFi space. High gas costs [transaction fees] and scalability on Ethereum are definitely concerns that made us choose Matic, which offers high speed, Nischal Shetty, CEO of WazirX, told CoinDesk in a Telegram chat. Indeed, costs of executing transactions on Ethereums blockchain are up over 3,000% on a year-to-date basis. More recently, the average transaction fee rose to five-year highs above $6. Related: $200M Staked in YAM-Inspired DeFi Protocol in Under 12 Hours Also read: Decentralized Finance Frenzy Drives Ethereum Transaction Fees to All-Time Highs Fees are relatively low on Matics network. Their Reddit proof-of-concept showed 3 million transactions at a cost of [a] mere $4 and the side chains have shown throughput of 7,200 transactions per second, which is very promising for the scale WazirX wants to achieve with its AMM-based DEX, the exchange said in its blog post. Story continues WazIrX, which was acquired by the global cryptocurrency exchange and blockchain ecosystem Binance last year, plans to launch the testnet of its AMM in September. The DeFi project is WazirXs initiative, said Shetty, adding that we are glad to have support from the Binance team. Its a huge advantage to be a part of the ecosystem. Also read: India May Be Starting Its Biggest Bitcoin Bull Run Yet Trading volumes on cryptocurrency exchanges serving Indian citizens have soared since the Supreme Court lifted the Reserve Bank of Indias ban on crypto transactions in March. The weekly bitcoin peer-to-peer transaction volumes have doubled to over 300 million rupees ($4 million). Related Stories Binance-Owned WazirX Announces DeFi Project With Matic Binance-Owned WazirX Announces DeFi Project With Matic || Binance-Owned WazirX Announces DeFi Project With Matic: The Mumbai-based crypto exchange WazirX, one of the biggest in India, recently announced it is developing a decentralized finance (DeFi) product in partnership with Matic Network, a blockchain scalability platform.
“We are launching an automated market maker (AMM) protocol and partnering with Matic Network to launch the protocol”, the exchange, a subsidiary of Binance, said in ablog poston Saturday.
Automated market makers are algorithmic agents that make it easier to list and exchange cryptocurrencies without the help of an order book.
Related:First Mover: Money Legos Turn 'Exuberant' as Chainlink Stripped of 'DeFi'
AMM-based decentralized exchanges (DEXs) like Uniswap, which enable running of openly accessible, on-chain liquidity pools for different tokens, have witnessedstaggering growthin trading volumes over the past few months.
“The DeFi movement has picked up globally and WazirX plans to make it easy for billions of Indians to participate in the DeFi ecosystem,”WazirX said.
The exchange, however, has opted for Matic instead ofEthereum’s network, which iscurrently dominatingthe DeFi space. “High gas costs [transaction fees] and scalability on Ethereum are definitely concerns that made us choose Matic, which offers high speed,” Nischal Shetty, CEO of WazirX, told CoinDesk in a Telegram chat.
Indeed, costs of executing transactions on Ethereum’s blockchain are up over 3,000% on a year-to-date basis. More recently, the average transaction feerose to five-year highsabove $6.
Related:$200M Staked in YAM-Inspired DeFi Protocol in Under 12 Hours
Also read:Decentralized Finance Frenzy Drives Ethereum Transaction Fees to All-Time Highs
Fees are relatively low on Matic’s network. “Their Reddit proof-of-concept showed 3 million transactions at a cost of [a] mere $4 and the side chains have shown throughput of 7,200 transactions per second, which is very promising for the scale WazirX wants to achieve with its AMM-based DEX,” theexchange saidin its blog post.
WazIrX, whichwas acquired bythe global cryptocurrency exchange and blockchain ecosystem Binance last year, plans to launch the testnet of its AMM in September.
“The DeFi project is WazirX’s initiative,” said Shetty, adding that “we are glad to have support from the Binance team. It’s a huge advantage to be a part of the ecosystem.”
Also read:India May Be Starting Its Biggest Bitcoin Bull Run Yet
Trading volumes on cryptocurrency exchanges serving Indian citizens have soared since the Supreme Court lifted the Reserve Bank of India’s ban on crypto transactions in March. The weeklybitcoinpeer-to-peer transaction volumeshave doubled to over 300 million rupees($4 million).
• Binance-Owned WazirX Announces DeFi Project With Matic
• Binance-Owned WazirX Announces DeFi Project With Matic || One Small Step for Bitcoin – SpaceChain Secured Transfer From International Space Station: SpaceChain, the U.K. crypto firm with extraterrestrial aspirations, secured a bitcoin transfer with its multi-signature transaction hardware orbiting Earth every 90 minutes. SpaceChain’s International Space Station-hosted (ISS) hardware authorized a 0.0099 BTC (about $92 at the time) transfer initiated by Chief Technology Officer Jeff Garzik on June 26, the decentralization company disclosed Tuesday. Developed by GomSpace and installed on the ISS on June 25, that hardware holds a private key needed to verify blockchain transactions via the “multi-signature” technique. Data can only reach the ISS via the craft’s encrypted ground station links. SpaceChain says this adds security and resilience to transaction authorizations. Representatives did not immediately answer CoinDesk’s questions as to why a transaction initiated on June 26 was only made public nearly two months later. Although the ISS hardware cannot communicate with other crafts, SpaceChain hopes to build and launch robust decentralized blockchain infrastructure that can do so. Read more: A Bitcoin Wallet Is Orbiting the Earth at 5 Miles Per Second Related Stories One Small Step for Bitcoin – SpaceChain Secured Transfer From International Space Station One Small Step for Bitcoin – SpaceChain Secured Transfer From International Space Station One Small Step for Bitcoin – SpaceChain Secured Transfer From International Space Station One Small Step for Bitcoin – SpaceChain Secured Transfer From International Space Station || One Small Step for Bitcoin – SpaceChain Secured Transfer From International Space Station: SpaceChain, the U.K. crypto firm with extraterrestrial aspirations, secured a bitcoin transfer with its multi-signature transaction hardware orbiting Earth every 90 minutes. SpaceChain’s International Space Station-hosted (ISS) hardware authorized a 0.0099 BTC (about $92 at the time) transfer initiated by Chief Technology Officer Jeff Garzik on June 26, the decentralization company disclosed Tuesday. Developed by GomSpace and installed on the ISS on June 25, that hardware holds a private key needed to verify blockchain transactions via the “multi-signature” technique. Data can only reach the ISS via the craft’s encrypted ground station links. SpaceChain says this adds security and resilience to transaction authorizations. Representatives did not immediately answer CoinDesk’s questions as to why a transaction initiated on June 26 was only made public nearly two months later. Although the ISS hardware cannot communicate with other crafts, SpaceChain hopes to build and launch robust decentralized blockchain infrastructure that can do so. Read more: A Bitcoin Wallet Is Orbiting the Earth at 5 Miles Per Second Related Stories One Small Step for Bitcoin – SpaceChain Secured Transfer From International Space Station One Small Step for Bitcoin – SpaceChain Secured Transfer From International Space Station One Small Step for Bitcoin – SpaceChain Secured Transfer From International Space Station One Small Step for Bitcoin – SpaceChain Secured Transfer From International Space Station || One Small Step for Bitcoin – SpaceChain Secured Transfer From International Space Station: SpaceChain, the U.K. crypto firm with extraterrestrial aspirations, secured a bitcoin transfer with its multi-signature transaction hardware orbiting Earth every 90 minutes. SpaceChain’s International Space Station-hosted (ISS) hardware authorized a 0.0099 BTC (about $92 at the time) transfer initiated by Chief Technology Officer Jeff Garzik on June 26, the decentralization company disclosed Tuesday. Developed by GomSpace and installed on the ISS on June 25, that hardware holds a private key needed to verify blockchain transactions via the “multi-signature” technique. Data can only reach the ISS via the craft’s encrypted ground station links. SpaceChain says this adds security and resilience to transaction authorizations. Representatives did not immediately answer CoinDesk’s questions as to why a transaction initiated on June 26 was only made public nearly two months later. Although the ISS hardware cannot communicate with other crafts, SpaceChain hopes to build and launch robust decentralized blockchain infrastructure that can do so. Read more: A Bitcoin Wallet Is Orbiting the Earth at 5 Miles Per Second Related Stories One Small Step for Bitcoin – SpaceChain Secured Transfer From International Space Station One Small Step for Bitcoin – SpaceChain Secured Transfer From International Space Station One Small Step for Bitcoin – SpaceChain Secured Transfer From International Space Station One Small Step for Bitcoin – SpaceChain Secured Transfer From International Space Station || Blockchain Bites: Hashrates Drop, Bitcoiners Hodl and an Open Letter to Bankers: Floods are dampening bitcoin mining hashrates, Ethereum Classic may be thrown off its most popular exchange and bitcoin is moving off exchanges.
You’re readingBlockchain Bites, the daily roundup of the most pivotal stories in blockchain and crypto news, and why they’re significant. You can subscribe to this and all of CoinDesk’snewsletters here.
Flooded networkMajor Chinesebitcoinmining pools are each seeing dailyhashrate drops of between 10% and 20%following continuous rainstorms in Sichuan. China’s southwestern Sichuan province, estimated to have over 50% of the Bitcoin network’s total computing power, has been hit by heavy rainstorms since last week. Data from BTC.com shows the world’s top four bitcoin mining pools – PoolIn, F2Pool, BTC.com and Antpool, all based in China – have each seen their hashrates drop between 10% and 20% over the last 24 hours.
Related:First Mover: Money Legos Turn 'Exuberant' as Chainlink Stripped of 'DeFi'
Exchanging patternsBitcoinexchange reserves have fallen to a 21-month low.Data shows the number of bitcoins held in exchange addresses fell by 0.83% to 2,610,278 BTC on Monday – the lowest level since Nov. 24, 2018. Some view this an indicator investors feel is bullish about the market. Investors tend to move digital assets from their wallets onto exchanges when they lose confidence in the current price movement, as happened during the Black Thursday sell-off, whenbitcoincrashed by 40% and exchange balances surged by 2%. Bitcoin is now riding a 13-month high.
Is ETC OK?OKEx, the exchange with the highest trading volume ofethereum classic(ETC), isconsidering delisting the cryptocurrencyafter two recent 51% attacks drained $5.6 million from its coiffures. “Given ETC’s popularity and standing, we are not rushing into delisting… We also do not want to foot the bill for ETC’s security vulnerabilities that have made it particularly susceptible to attack(s),” said Jay Hao, chief executive of the exchange. It’s assumed the hacker used OKEx during the attacks because of its ETC liquidity. The exchange has since increased confirmation times for ETC trades.
Chipping awayInvestors suing chipmaker giant Nvidia for allegedlymisreporting the size of its crypto mining-related revenuehave complained the company is now trying to block key evidence from a former employee. The lawsuit, begun in 2018, alleges Nvidia downplayed the quantity of graphics cards sold to crypto miners. Shareholders have now told the court Nvidia’s lawyers had gotten the former marketing executive to “disavow” several key statements. Plaintiffs allege the former employee has retracted the testimony out of fear of retaliation.
Crypto trustsGrayscale Investments’Bitcoin CashTrust (BCHG) andLitecoinTrust (LTCN) crypto products areset to begin trading publicly on over-the-counter marketsafter receiving DTC eligibility Monday. The twin funds provide institutional and retail investors exposure to their namesake cryptocurrencies: bitcoin cash ($5.8 billion market cap) and litecoin ($4.3 billion market cap). The crypto trusts serve as a gateway for investors who lack the technical know-how or risk tolerance to hold coins themselves. (Grayscale is a subsidiary of Digital Currency Group, CoinDesk’s parent firm.)
• Binance Charitypledges $20,000to Beirut explosion relief efforts (CoinDesk)
• Capital One files patent for AI social media tool to findcrypto trading picks(CoinDesk)
• Game show winner loses $39,000 inBTC, Facebook scam(CoinDesk)
• Coinbase explains how itevaluates ERC-20tokens for listing (The Block)
• A five-member board to control$36 million treasuryfor Zcash (Decrypt)
Related:First Mover: Bitcoin Passes $12K, Dollar Worries Grow, OMG Jumps, Portnoy's Orchid #Pump
Last week, the Financial Times reported the coronavirus isdriving bond trading digital.
According to JPMorgan Chase’s Treasury trading desk, only 50% of pre-pandemic U.S. Treasury trades were carried out electronically. The figure has since increased to 70% in April and 77% in June. The trend is likely to continue, says JPMorgan.
In times past, trades would be executed by “picking up the phone to negotiate with a human trader” or standing on the trading floor, the FT reports. This is no longer feasible due to hygienic concerns.
Apart from cultural impediments, the bond market is resistant to digitization due to its sheer size. “In fact, there are only 43,000 stocks in the world, but there are millions of bonds, each with [its] own legal and financial idiosyncrasies,” theFT reportedin 2018.
But is a human touch necessary to make sense of trading debts?
One of blockchain’s aims is to provide a sound foundation for the digital economy. To create unique and persistent digital representations of any asset or debt.
While still in its infancy, the blockchain bond industry has seen early success. Governments, nonprofits and corporations have all had successful trials or issuances using a blockchain. Most recently, Thailand’s Ministry of Finance announced plans to issue$6 millionin debt.
Peaked?Bitcoin (BTC) was flat after jumping on Monday to a new 2020high above $12,400.Analysts are speculating whether the largest cryptocurrency can hold the higher ground. The latest move up came on high volume, and it was a “convincing break,” Denis Vinokourov, head of research for the crypto prime broker BeQuant, told CoinDesk. Monday’s high was just 11% off the 2019 peak of $13,880. This insight came from First Mover. You cansubscribe here.
Second sleuthElliptic has added Binance Chain and its native payments token BNB to its monitoring platform, becoming onlythe second blockchain analysis company to do so. Starting Tuesday, Elliptic’s automated compliance, wallet monitoring and transaction tracing tools can all tap into Binance Chain activity. Binance executives said compliance is key to BNB adoption. The SEC inked a deal with competing firm CipherTrace in July, specifically for its BNB tracing ability.
Dear bankerOuriel Ohayon, CEO and co-founder of ZenGo, pennedan open letter to all bankers urging them to experiment with crypto,professionally and personally. Crypto won’t supplant banks, but banks cannot survive the path they are on. “No one is asking you to change everything overnight. Just start somewhere, learn continuously, explore the rabbit hole, do some pilots. Start with more familiar territories like custodial exchanges and U.S. dollar-backed stablecoins, which are in high demand everywhere,” he writes.
Inflated narratives?Nathaniel Whittemore takes a look at the macroeconomic environment to discuss thecountervailing forces affecting inflationin the latest edition of The Breakdown.
• Blockchain Bites: Hashrates Drop, Bitcoiners Hodl and an Open Letter to Bankers
• Blockchain Bites: Hashrates Drop, Bitcoiners Hodl and an Open Letter to Bankers || Blockchain Bites: Hashrates Drop, Bitcoiners Hodl and an Open Letter to Bankers: Floods are dampening bitcoin mining hashrates, Ethereum Classic may be thrown off its most popular exchange and bitcoin is moving off exchanges.
You’re readingBlockchain Bites, the daily roundup of the most pivotal stories in blockchain and crypto news, and why they’re significant. You can subscribe to this and all of CoinDesk’snewsletters here.
Flooded networkMajor Chinesebitcoinmining pools are each seeing dailyhashrate drops of between 10% and 20%following continuous rainstorms in Sichuan. China’s southwestern Sichuan province, estimated to have over 50% of the Bitcoin network’s total computing power, has been hit by heavy rainstorms since last week. Data from BTC.com shows the world’s top four bitcoin mining pools – PoolIn, F2Pool, BTC.com and Antpool, all based in China – have each seen their hashrates drop between 10% and 20% over the last 24 hours.
Related:First Mover: Money Legos Turn 'Exuberant' as Chainlink Stripped of 'DeFi'
Exchanging patternsBitcoinexchange reserves have fallen to a 21-month low.Data shows the number of bitcoins held in exchange addresses fell by 0.83% to 2,610,278 BTC on Monday – the lowest level since Nov. 24, 2018. Some view this an indicator investors feel is bullish about the market. Investors tend to move digital assets from their wallets onto exchanges when they lose confidence in the current price movement, as happened during the Black Thursday sell-off, whenbitcoincrashed by 40% and exchange balances surged by 2%. Bitcoin is now riding a 13-month high.
Is ETC OK?OKEx, the exchange with the highest trading volume ofethereum classic(ETC), isconsidering delisting the cryptocurrencyafter two recent 51% attacks drained $5.6 million from its coiffures. “Given ETC’s popularity and standing, we are not rushing into delisting… We also do not want to foot the bill for ETC’s security vulnerabilities that have made it particularly susceptible to attack(s),” said Jay Hao, chief executive of the exchange. It’s assumed the hacker used OKEx during the attacks because of its ETC liquidity. The exchange has since increased confirmation times for ETC trades.
Chipping awayInvestors suing chipmaker giant Nvidia for allegedlymisreporting the size of its crypto mining-related revenuehave complained the company is now trying to block key evidence from a former employee. The lawsuit, begun in 2018, alleges Nvidia downplayed the quantity of graphics cards sold to crypto miners. Shareholders have now told the court Nvidia’s lawyers had gotten the former marketing executive to “disavow” several key statements. Plaintiffs allege the former employee has retracted the testimony out of fear of retaliation.
Crypto trustsGrayscale Investments’Bitcoin CashTrust (BCHG) andLitecoinTrust (LTCN) crypto products areset to begin trading publicly on over-the-counter marketsafter receiving DTC eligibility Monday. The twin funds provide institutional and retail investors exposure to their namesake cryptocurrencies: bitcoin cash ($5.8 billion market cap) and litecoin ($4.3 billion market cap). The crypto trusts serve as a gateway for investors who lack the technical know-how or risk tolerance to hold coins themselves. (Grayscale is a subsidiary of Digital Currency Group, CoinDesk’s parent firm.)
• Binance Charitypledges $20,000to Beirut explosion relief efforts (CoinDesk)
• Capital One files patent for AI social media tool to findcrypto trading picks(CoinDesk)
• Game show winner loses $39,000 inBTC, Facebook scam(CoinDesk)
• Coinbase explains how itevaluates ERC-20tokens for listing (The Block)
• A five-member board to control$36 million treasuryfor Zcash (Decrypt)
Related:First Mover: Bitcoin Passes $12K, Dollar Worries Grow, OMG Jumps, Portnoy's Orchid #Pump
Last week, the Financial Times reported the coronavirus isdriving bond trading digital.
According to JPMorgan Chase’s Treasury trading desk, only 50% of pre-pandemic U.S. Treasury trades were carried out electronically. The figure has since increased to 70% in April and 77% in June. The trend is likely to continue, says JPMorgan.
In times past, trades would be executed by “picking up the phone to negotiate with a human trader” or standing on the trading floor, the FT reports. This is no longer feasible due to hygienic concerns.
Apart from cultural impediments, the bond market is resistant to digitization due to its sheer size. “In fact, there are only 43,000 stocks in the world, but there are millions of bonds, each with [its] own legal and financial idiosyncrasies,” theFT reportedin 2018.
But is a human touch necessary to make sense of trading debts?
One of blockchain’s aims is to provide a sound foundation for the digital economy. To create unique and persistent digital representations of any asset or debt.
While still in its infancy, the blockchain bond industry has seen early success. Governments, nonprofits and corporations have all had successful trials or issuances using a blockchain. Most recently, Thailand’s Ministry of Finance announced plans to issue$6 millionin debt.
Peaked?Bitcoin (BTC) was flat after jumping on Monday to a new 2020high above $12,400.Analysts are speculating whether the largest cryptocurrency can hold the higher ground. The latest move up came on high volume, and it was a “convincing break,” Denis Vinokourov, head of research for the crypto prime broker BeQuant, told CoinDesk. Monday’s high was just 11% off the 2019 peak of $13,880. This insight came from First Mover. You cansubscribe here.
Second sleuthElliptic has added Binance Chain and its native payments token BNB to its monitoring platform, becoming onlythe second blockchain analysis company to do so. Starting Tuesday, Elliptic’s automated compliance, wallet monitoring and transaction tracing tools can all tap into Binance Chain activity. Binance executives said compliance is key to BNB adoption. The SEC inked a deal with competing firm CipherTrace in July, specifically for its BNB tracing ability.
Dear bankerOuriel Ohayon, CEO and co-founder of ZenGo, pennedan open letter to all bankers urging them to experiment with crypto,professionally and personally. Crypto won’t supplant banks, but banks cannot survive the path they are on. “No one is asking you to change everything overnight. Just start somewhere, learn continuously, explore the rabbit hole, do some pilots. Start with more familiar territories like custodial exchanges and U.S. dollar-backed stablecoins, which are in high demand everywhere,” he writes.
Inflated narratives?Nathaniel Whittemore takes a look at the macroeconomic environment to discuss thecountervailing forces affecting inflationin the latest edition of The Breakdown.
• Blockchain Bites: Hashrates Drop, Bitcoiners Hodl and an Open Letter to Bankers
• Blockchain Bites: Hashrates Drop, Bitcoiners Hodl and an Open Letter to Bankers
[Social Media Buzz]
None available.
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11878.37, 11592.49, 11681.83, 11664.85, 11774.60, 11366.13, 11488.36, 11323.40, 11542.50, 11506.87
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Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 3865.95, 3742.70, 3843.52, 3943.41, 3836.74, 3857.72, 3845.19, 4076.63, 4025.25, 4030.85, 4035.30, 3678.92, 3687.37, 3661.30, 3552.95, 3706.05, 3630.68, 3655.01, 3678.56, 3657.84, 3728.57, 3601.01, 3576.03, 3604.58, 3585.12, 3600.87, 3599.77, 3602.46, 3583.97, 3470.45, 3448.12, 3486.18, 3457.79, 3487.95, 3521.06, 3464.01, 3459.15, 3466.36, 3413.77, 3399.47, 3666.78, 3671.20, 3690.19, 3648.43, 3653.53, 3632.07, 3616.88, 3620.81, 3629.79, 3673.84, 3915.71, 3947.09, 3999.82, 3954.12, 4005.53, 4142.53, 3810.43, 3882.70, 3854.36, 3851.05, 3854.79, 3859.58, 3864.42, 3847.18, 3761.56, 3896.38, 3903.94, 3911.48, 3901.13, 3963.31, 3951.60, 3905.23, 3909.16, 3906.72, 3924.37, 3960.91, 4048.73, 4025.23, 4032.51, 4071.19, 4087.48, 4029.33, 4023.97, 4035.83, 4022.17, 3963.07, 3985.08, 4087.07, 4069.11, 4098.37.
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[Bitcoin Technical Analysis for 2019-03-29]
Volume: 10918665557, RSI (14-day): 62.19, 50-day EMA: 3925.35, 200-day EMA: 4670.61
[Wider Market Context]
Gold Price: 1293.00, Gold RSI: 44.69
Oil Price: 60.14, Oil RSI: 64.91
[Recent News (last 7 days)]
Is Bitcoin Fundamentally Incapable of Mass Adoption? The Economist Thinks So: An articleout today in the Economistlists several reasons why Bitcoin may never have a “long-lasting” recovery. The unnamed author writes, in part:
“The bust has been correspondingly brutal. Those who bought near the top were left with one of the world’s worst-performing assets. Cryptocurrency startups fired employees; banks shelved their products. On March 14th the CBOE said it would soon stop offering Bitcoin futures.”
He or she neglects to mention that Bitcoin has previously been one of thebest performing assets as well. An interesting point to make: Bitcoin over the past three years has been the best and worst performing asset to hold. Those who called the bubble and jumped ship at the top have laughed all the way to the bank, while long-term philosophicalhodlers remain unfazed.
The article makes a legitimate argument that mass adoption of Bitcoin may never be forthcoming. If we view Bitcoin as a “currency,” intended for making payments of all sizes, the technology to do so hasn’t arrived yet. Bitcoin Core supporters believe expanding block size is unreasonably burdensome on miners and full nodes, while Bitcoin Cash supporters point out that even Lightning Networkmay not be best suited for making micro-payments.
The Economist speaks to the nature of Bitcoin’s actual transaction volume and notes a recent falsified report about the amount of value actually processed by the Bitcoin blockchain in 2018.
Allegedly, an absurd group of Bitcoin fanatics claimed $3.3 trillion – a figure which included “change” transactions. When you send a Bitcoin transaction, your change is returned to an address you control. You didn’t actually send any money, but allegedly people atSatoshi Capital Researchdecided to include change transactions in their estimation.
(CCN couldn’t locate the research report in question, nor did the Economist decide to link it.)
Read the full story on CCN.com. || Is Bitcoin Fundamentally Incapable of Mass Adoption? The Economist Thinks So: An articleout today in the Economistlists several reasons why Bitcoin may never have a “long-lasting” recovery. The unnamed author writes, in part:
“The bust has been correspondingly brutal. Those who bought near the top were left with one of the world’s worst-performing assets. Cryptocurrency startups fired employees; banks shelved their products. On March 14th the CBOE said it would soon stop offering Bitcoin futures.”
He or she neglects to mention that Bitcoin has previously been one of thebest performing assets as well. An interesting point to make: Bitcoin over the past three years has been the best and worst performing asset to hold. Those who called the bubble and jumped ship at the top have laughed all the way to the bank, while long-term philosophicalhodlers remain unfazed.
The article makes a legitimate argument that mass adoption of Bitcoin may never be forthcoming. If we view Bitcoin as a “currency,” intended for making payments of all sizes, the technology to do so hasn’t arrived yet. Bitcoin Core supporters believe expanding block size is unreasonably burdensome on miners and full nodes, while Bitcoin Cash supporters point out that even Lightning Networkmay not be best suited for making micro-payments.
The Economist speaks to the nature of Bitcoin’s actual transaction volume and notes a recent falsified report about the amount of value actually processed by the Bitcoin blockchain in 2018.
Allegedly, an absurd group of Bitcoin fanatics claimed $3.3 trillion – a figure which included “change” transactions. When you send a Bitcoin transaction, your change is returned to an address you control. You didn’t actually send any money, but allegedly people atSatoshi Capital Researchdecided to include change transactions in their estimation.
(CCN couldn’t locate the research report in question, nor did the Economist decide to link it.)
Read the full story on CCN.com. || Is Bitcoin Fundamentally Incapable of Mass Adoption? The Economist Thinks So: How improbable is Bitcoin mass adoption? The Economist believes it's very much so. Image from Shutterstock. An article out today in the Economist lists several reasons why Bitcoin may never have a long-lasting recovery. The unnamed author writes, in part: The bust has been correspondingly brutal. Those who bought near the top were left with one of the worlds worst-performing assets. Cryptocurrency startups fired employees; banks shelved their products. On March 14th the CBOE said it would soon stop offering Bitcoin futures. He or she neglects to mention that Bitcoin has previously been one of the best performing assets as well . An interesting point to make: Bitcoin over the past three years has been the best and worst performing asset to hold. Those who called the bubble and jumped ship at the top have laughed all the way to the bank, while long-term philosophical hodlers remain unfazed . Mass Adoption May Be The Job of Some Other Crypto The article makes a legitimate argument that mass adoption of Bitcoin may never be forthcoming. If we view Bitcoin as a currency, intended for making payments of all sizes, the technology to do so hasnt arrived yet. Bitcoin Core supporters believe expanding block size is unreasonably burdensome on miners and full nodes, while Bitcoin Cash supporters point out that even Lightning Network may not be best suited for making micro-payments . The Economist speaks to the nature of Bitcoins actual transaction volume and notes a recent falsified report about the amount of value actually processed by the Bitcoin blockchain in 2018. 7 Transactions Per Second, Every Second
Allegedly, an absurd group of Bitcoin fanatics claimed $3.3 trillion a figure which included change transactions. When you send a Bitcoin transaction, your change is returned to an address you control. You didnt actually send any money, but allegedly people at Satoshi Capital Research decided to include change transactions in their estimation. (CCN couldnt locate the research report in question, nor did the Economist decide to link it.) Read the full story on CCN.com . || Crypto-Stealing Gustuff Trojan Unmasks Alarming Banking Vulnerabilities: A new banking trojan known as Gustuff can allegedly gain access to major banking and cryptocurrency apps from Wells Fargo to Coinbase. | Source: Shutterstock The darknet has a new soldier in the form Gustuff, a new Android trojan that has targeted over 125 cryptocurrency and banking apps. Gustuff has been in existence since April 2018 and stands with Anubis, Red Alert, and BankBot as one of the deadliest threats to the financial space. Cybersecurity firm Group-IB suggests that Gustuff can uncover login credentials and automate transactions for a variety of banking and crypto apps including Capital One, Wells Fargo , PNC Bank, Coinbase , and Bitcoin Wallet. It’s also been known to target credentials for other payment and messaging apps, including Western Union, PayPal , Walmart , and Skype. Gustaff Wants Your Money – And Crypto Gustuff operates predominantly by taking over the Android Accessibility service. Designed for persons with disabilities, the service can tap screen items and automate interactions for users who can’t do this themselves. Rustam Mirkasymov – head of dynamic analysis of the malware department at Group-IB – says this behavior isn’t surprising for most trojans, but Gustuff has a trait that seemingly makes it more dangerous: “Trojans that use [the] accessibility service is not a rare occurrence. Gustuff’s unique feature is that it performs ATS with the help of the accessibility service. The fact that Gustuff uses [an] ATS makes it even more advanced than Anubis and RedAlert.” ATS stands for automatic transfer service. Transactions occur through infected computers when ATS is utilized, meaning Gustuff doesn’t need to find login credentials that it would then use to steal funds. Instead, it simply infects a computer or mobile device and fills in the credentials on its own from there, allowing financial transfers to take place. Read the full story on CCN.com . || Crypto-Stealing Gustuff Trojan Unmasks Alarming Banking Vulnerabilities: A new banking trojan known as Gustuff can allegedly gain access to major banking and cryptocurrency apps from Wells Fargo to Coinbase. | Source: Shutterstock The darknet has a new soldier in the form Gustuff, a new Android trojan that has targeted over 125 cryptocurrency and banking apps. Gustuff has been in existence since April 2018 and stands with Anubis, Red Alert, and BankBot as one of the deadliest threats to the financial space. Cybersecurity firm Group-IB suggests that Gustuff can uncover login credentials and automate transactions for a variety of banking and crypto apps including Capital One, Wells Fargo , PNC Bank, Coinbase , and Bitcoin Wallet. It’s also been known to target credentials for other payment and messaging apps, including Western Union, PayPal , Walmart , and Skype. Gustaff Wants Your Money – And Crypto Gustuff operates predominantly by taking over the Android Accessibility service. Designed for persons with disabilities, the service can tap screen items and automate interactions for users who can’t do this themselves. Rustam Mirkasymov – head of dynamic analysis of the malware department at Group-IB – says this behavior isn’t surprising for most trojans, but Gustuff has a trait that seemingly makes it more dangerous: “Trojans that use [the] accessibility service is not a rare occurrence. Gustuff’s unique feature is that it performs ATS with the help of the accessibility service. The fact that Gustuff uses [an] ATS makes it even more advanced than Anubis and RedAlert.” ATS stands for automatic transfer service. Transactions occur through infected computers when ATS is utilized, meaning Gustuff doesn’t need to find login credentials that it would then use to steal funds. Instead, it simply infects a computer or mobile device and fills in the credentials on its own from there, allowing financial transfers to take place. Read the full story on CCN.com . || Crypto Gift Cards Can Now Be Used For Reservations on Airbnb: Digital gift cards and mobile phone refill provider Bitrefill has added an option to make Airbnb reservations withcryptocurrency, Bitrefill announced in altweeton March 27.
Per the announcement, customers can now pay for their bookings with Bitcoin (BTC), Ethereum (ETH), Dash (DASH), Litecoin (LTC), and Dogecoin (DOGE). The card is technically a voucher product, meaning that customers purchase a U.S. dollar equivalent for Airbnb with cryptocurrencies and subsequently receive a voucher code to use on the platform. As such, Airbnb itself does not accept or handle the cryptocurrency.
Currently, the service is only available forUnited Statesresidents and for stays of less than 28 days. Customers can purchase vouchers in $25, $50 and $100 increments.
Bitrefill is aSweden-based firm that provides crypto gift cards for a number of merchants including Netflix, Hulu,eBay,Amazonand others.
Cryptocurrencies have been gradually entering the travel space. In February, CointelegraphreportedthatArgentinianstate public transport card SUBE (Sistema Único de Boleto Electrónico) can now be topped up using Bitcoin. The initiative is reportedly aimed to give people wider access to “such a revolutionary technology, as Bitcoin.”
Last August, the state government of theAustralianprovince of Queenslandannouncedit would issue a grant to a cryptocurrency startup as part of over $8.3 million of innovation funding. The company would purportedly boost tourism to the state by selling travel offers with cryptocurrencies.
Conversely, In June of last year major travel booking website Expedia.comstoppedaccepting Bitcoin as a payment method for hotels or flights, however the service did not comment on the cancellation either on social media or on its website at the time. Expedia firstannouncedit would accept Bitcoin as a form of payment in June, 2014, when it teamed up with leading crypto exchangeCoinbase.
• Largest Swiss Online Retailer Digitec Galaxus Now Accepts Cryptocurrencies
• Fintech Firm trueDigital Expands Over-the-Counter BTC, ETH Reference Rate Distribution
• Bitcoin Cash Grows as Major Oil Futures Show Mixed Movements
• Canada: Ontario Town Approves Pilot Program for Paying Property Taxes With Bitcoin || Crypto Gift Cards Can Now Be Used For Reservations on Airbnb: Digital gift cards and mobile phone refill provider Bitrefill has added an option to make Airbnb reservations with cryptocurrency , Bitrefill announced in al tweet on March 27. Per the announcement, customers can now pay for their bookings with Bitcoin ( BTC ), Ethereum ( ETH ), Dash ( DASH ), Litecoin ( LTC ), and Dogecoin ( DOGE ). The card is technically a voucher product, meaning that customers purchase a U.S. dollar equivalent for Airbnb with cryptocurrencies and subsequently receive a voucher code to use on the platform. As such, Airbnb itself does not accept or handle the cryptocurrency. Currently, the service is only available for United States residents and for stays of less than 28 days. Customers can purchase vouchers in $25, $50 and $100 increments. Bitrefill is a Sweden -based firm that provides crypto gift cards for a number of merchants including Netflix, Hulu, eBay , Amazon and others. Cryptocurrencies have been gradually entering the travel space. In February, Cointelegraph reported that Argentinian state public transport card SUBE (Sistema Único de Boleto Electrónico) can now be topped up using Bitcoin. The initiative is reportedly aimed to give people wider access to “such a revolutionary technology, as Bitcoin.” Last August, the state government of the Australian province of Queensland announced it would issue a grant to a cryptocurrency startup as part of over $8.3 million of innovation funding. The company would purportedly boost tourism to the state by selling travel offers with cryptocurrencies. Conversely, In June of last year major travel booking website Expedia.com stopped accepting Bitcoin as a payment method for hotels or flights, however the service did not comment on the cancellation either on social media or on its website at the time. Expedia first announced it would accept Bitcoin as a form of payment in June, 2014, when it teamed up with leading crypto exchange Coinbase . Related Articles: Largest Swiss Online Retailer Digitec Galaxus Now Accepts Cryptocurrencies Fintech Firm trueDigital Expands Over-the-Counter BTC, ETH Reference Rate Distribution Bitcoin Cash Grows as Major Oil Futures Show Mixed Movements Canada: Ontario Town Approves Pilot Program for Paying Property Taxes With Bitcoin || Ex-QuadrigaCX Lawyer Exposes Bitcoin Exchange’s Descent into ‘Lawlessness’: ByCCN.com:QuadrigaCXhad a long and successful run as Canada’s top Bitcoin exchange. Former counsel to the exchange, Christine Duhaime, says ina blog post at Coindeskthat the company was among the only exchanges to publicly publish audits or obtain cold storage insurance.
Both choices were laudable and rare among exchanges in 2015, when she was fired after six months of providing advice on regulatory issues. She says CEOGerald Cottenwanted to move away from being a publicly listed company and shook out all the “law and order” types. She says the company is composed of four companies in total, and therefore four sets of shareholders have a stake in the assets of Quadriga.
Beforeher firm’s hiring by Quadriga, the company believed it had been inadvertently involved in a pump-and-dump scheme.
“It is my belief that the whole QuadrigaCX team came to believe that the company may have unwittingly become involved in a Vancouver pump-and-dump scheme. Whether it had been drawn into a pump-and-dump is not for me to say because it was before my time, but I can say that QuadrigaCX was run by tech geeks, who were competitive, ambitious and smart but who were unfamiliar with the capital markets ecosystem in Vancouver.”
Quadriga subsequently bought its way out of many shareholder agreements. At the same time, at least some shareholders never received a dollar.
“There were few shareholders left by the time we exited in early 2016, and the shareholder lists publicly available do not appear to be up-to-date. Three shareholders have recently told me that they have never received notice of any annual general meetings and didn’t receive so much as a $1 dividend from QuadrigaCX in three years, despite how profitable it appears to have been.”
To take the company completely private, Cotten eliminated everyone related to compliance or regulatory oversight. In this way, Duhaime says, the company moved from being as regulated as possible to “lawlessness” in the regulatory sense.
Read the full story on CCN.com. || Ex-QuadrigaCX Lawyer Exposes Bitcoin Exchange’s Descent into ‘Lawlessness’: ByCCN.com:QuadrigaCXhad a long and successful run as Canada’s top Bitcoin exchange. Former counsel to the exchange, Christine Duhaime, says ina blog post at Coindeskthat the company was among the only exchanges to publicly publish audits or obtain cold storage insurance.
Both choices were laudable and rare among exchanges in 2015, when she was fired after six months of providing advice on regulatory issues. She says CEOGerald Cottenwanted to move away from being a publicly listed company and shook out all the “law and order” types. She says the company is composed of four companies in total, and therefore four sets of shareholders have a stake in the assets of Quadriga.
Beforeher firm’s hiring by Quadriga, the company believed it had been inadvertently involved in a pump-and-dump scheme.
“It is my belief that the whole QuadrigaCX team came to believe that the company may have unwittingly become involved in a Vancouver pump-and-dump scheme. Whether it had been drawn into a pump-and-dump is not for me to say because it was before my time, but I can say that QuadrigaCX was run by tech geeks, who were competitive, ambitious and smart but who were unfamiliar with the capital markets ecosystem in Vancouver.”
Quadriga subsequently bought its way out of many shareholder agreements. At the same time, at least some shareholders never received a dollar.
“There were few shareholders left by the time we exited in early 2016, and the shareholder lists publicly available do not appear to be up-to-date. Three shareholders have recently told me that they have never received notice of any annual general meetings and didn’t receive so much as a $1 dividend from QuadrigaCX in three years, despite how profitable it appears to have been.”
To take the company completely private, Cotten eliminated everyone related to compliance or regulatory oversight. In this way, Duhaime says, the company moved from being as regulated as possible to “lawlessness” in the regulatory sense.
Read the full story on CCN.com. || Ex-QuadrigaCX Lawyer Exposes Bitcoin Exchange’s Descent into ‘Lawlessness’: Former QuadrigaCX lawyer Christine Duhaime says she was reluctant to author a blog post on the subject of QuadrigaCX, but hopes doing so will raise awareness around the need for better exchange regulation. Image from Shutterstock. By CCN.com : QuadrigaCX had a long and successful run as Canada’s top Bitcoin exchange. Former counsel to the exchange, Christine Duhaime, says in a blog post at Coindesk that the company was among the only exchanges to publicly publish audits or obtain cold storage insurance. Both choices were laudable and rare among exchanges in 2015, when she was fired after six months of providing advice on regulatory issues. She says CEO Gerald Cotten wanted to move away from being a publicly listed company and shook out all the “law and order” types. She says the company is composed of four companies in total, and therefore four sets of shareholders have a stake in the assets of Quadriga. Before her firm ’s hiring by Quadriga, the company believed it had been inadvertently involved in a pump-and-dump scheme. “It is my belief that the whole QuadrigaCX team came to believe that the company may have unwittingly become involved in a Vancouver pump-and-dump scheme. Whether it had been drawn into a pump-and-dump is not for me to say because it was before my time, but I can say that QuadrigaCX was run by tech geeks, who were competitive, ambitious and smart but who were unfamiliar with the capital markets ecosystem in Vancouver.” Quadriga subsequently bought its way out of many shareholder agreements. At the same time, at least some shareholders never received a dollar. “There were few shareholders left by the time we exited in early 2016, and the shareholder lists publicly available do not appear to be up-to-date. Three shareholders have recently told me that they have never received notice of any annual general meetings and didn’t receive so much as a $1 dividend from QuadrigaCX in three years, despite how profitable it appears to have been.” To take the company completely private, Cotten eliminated everyone related to compliance or regulatory oversight. In this way, Duhaime says, the company moved from being as regulated as possible to “lawlessness” in the regulatory sense. Read the full story on CCN.com . || Precious Metal ETFs Fall as U.S. Dollar Gains Strength: This article was originally published onETFTrends.com.
A strong U.S. dollar on Thursday caused precious metals to fall as seen in exchange-traded funds (ETFs) like theSPDR Gold Shares (GLD) and theiShares Silver Trust (SLV) .
GLD fell 1.36 percent while SLV fell 1.71 percent. Gold prices reached a three-week low and silver touched down to a three-month low as the dollar rose to a multi-month high.
Another precious metal, palladium, fell 16 percent from the previous week's highs. In turn, theAberdeen Standard Phys PalladiumShrs ETF (PALL) fell 6 percent--a move, that to some analysts, was forthcoming given the precious metal's serendipitous rise past gold in terms of price per ounce.
“In our opinion, a correction of the palladium price was long overdue,” Commerzbank analysts said in a note.
Despite the fall in gold prices, it could be viewed as a temporary setback. A key technical level to watch could mean a short-term pullback is portending to a bullish move ahead based on some analysts' forecasts.
"We're really going to need for it to break above the key level which is a range of $1,360 to $1,380. If we get above that $1,380 level, that was the top in 2014, 2016, 2017 and 2018," said Miller Tabak equity strategistMatt Maley. "Whenever you get multiple touches over several different years, if you can finally break above that level, it really takes off. In other words, it confirms that the long-term trend has changed."
Gold has long been used as a safe haven asset, particularly when the value of the dollar declines. Furthermore, it provides a hedge for inflation since its price typically rises in conjunction with consumer prices.
As such, it was no surprise when the dollar index resulted in downward pressure on precious metals.
With the idea that a permanent trade deal is already priced into U.S. equities, news of the actual deal materializing could send equities higher or cause a sell-off as a result of an overbought condition--something that could help boost precious metals. Whether it does or doesn't, volatility is certain, according to some analysts.
"The U.S. and China are holding high-level trade talks that are taking place in Beijing,"wroteJim Wyckoff of Kitco News. "The key figures were meeting for dinner Thursday evening. There is no clear consensus on the eventual outcome of the U.S.-China trade talks, which means the final result could cause volatility in markets."
Meanwhile, traders were taking advance of theDirexion Daily Gold Miners Bear 3X Shares (DUST)andDirexion Daily Junior Gold Miners Index Bear 3X Shares (JDST), which were up 8.07% and 10.65% respectively at the close of trading Thursday.
For more market trends, visitETF Trends.
Have you signed up for the ETF Trends Virtual Summit on Wednesday, April 17? It’s complimentary for financial advisors (earn up to 5 CE Credits)!Register now to learn about inside the disruptive technology revolution.POPULAR ARTICLES AND RESOURCES FROM ETFTRENDS.COM
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READ MORE AT ETFTRENDS.COM > || Precious Metal ETFs Fall as U.S. Dollar Gains Strength: This article was originally published on ETFTrends.com. A strong U.S. dollar on Thursday caused precious metals to fall as seen in exchange-traded funds (ETFs) like the SPDR Gold Shares ( GLD ) and the iShares Silver Trust ( SLV ) . GLD fell 1.36 percent while SLV fell 1.71 percent. Gold prices reached a three-week low and silver touched down to a three-month low as the dollar rose to a multi-month high. Another precious metal, palladium, fell 16 percent from the previous week's highs. In turn, the Aberdeen Standard Phys PalladiumShrs ETF ( PALL ) fell 6 percent--a move, that to some analysts, was forthcoming given the precious metal's serendipitous rise past gold in terms of price per ounce. “In our opinion, a correction of the palladium price was long overdue,” Commerzbank analysts said in a note. Despite the fall in gold prices, it could be viewed as a temporary setback. A key technical level to watch could mean a short-term pullback is portending to a bullish move ahead based on some analysts' forecasts. "We're really going to need for it to break above the key level which is a range of $1,360 to $1,380. If we get above that $1,380 level, that was the top in 2014, 2016, 2017 and 2018," said Miller Tabak equity strategist Matt Maley . "Whenever you get multiple touches over several different years, if you can finally break above that level, it really takes off. In other words, it confirms that the long-term trend has changed." Gold has long been used as a safe haven asset, particularly when the value of the dollar declines. Furthermore, it provides a hedge for inflation since its price typically rises in conjunction with consumer prices. As such, it was no surprise when the dollar index resulted in downward pressure on precious metals. With the idea that a permanent trade deal is already priced into U.S. equities, news of the actual deal materializing could send equities higher or cause a sell-off as a result of an overbought condition--something that could help boost precious metals. Whether it does or doesn't, volatility is certain, according to some analysts. Story continues "The U.S. and China are holding high-level trade talks that are taking place in Beijing," wrote Jim Wyckoff of Kitco News. "The key figures were meeting for dinner Thursday evening. There is no clear consensus on the eventual outcome of the U.S.-China trade talks, which means the final result could cause volatility in markets." Meanwhile, traders were taking advance of the Direxion Daily Gold Miners Bear 3X Shares (DUST) and Direxion Daily Junior Gold Miners Index Bear 3X Shares (JDST) , which were up 8.07% and 10.65% respectively at the close of trading Thursday. For more market trends, visit ETF Trends . Have you signed up for the ETF Trends Virtual Summit on Wednesday, April 17? It’s complimentary for financial advisors (earn up to 5 CE Credits)! Register now to learn about inside the disruptive technology revolution . POPULAR ARTICLES AND RESOURCES FROM ETFTRENDS.COM SPY ETF Quote VOO ETF Quote QQQ ETF Quote VTI ETF Quote JNUG ETF Quote Top 34 Gold ETFs Top 34 Oil ETFs Top 57 Financials ETFs Using Merger Arbitrage as a Hedge Against Market Volatility A Better Way to Determine Risk Exposure for Growth ETF Investors Report Findings Highlight Fake Bitcoin Trading on Unregulated Exchanges How to Manage A Mature Bull Market With Macro-Themed ETF Strategies In the Know: Building a Low Cost, Defensive Portfolio READ MORE AT ETFTRENDS.COM > || Bitcoin And Ethereum Daily Price Forecast – Major Crypto Coins To Continue Consolidative Price Action: Cryptocurrency market saw Bitcoin and major legacy cryptocurrencies breach critical resistance levels during American market hours on Wednesday. Post the upside move market has entered into a phase of consolidative price action well near overnight highs. However, crypto bulls lack the strength required to sustain a rally above critical support levels. So it will only be a short while post which profit booking or headlines influenced momentum drags the pair back below critical price levels. Even when consolidative price action goes on in the market, major cryptos will see slow and steady downside price action.
The current market scenario doesn’t vary much from my analysis yesterday. Cryptocurrency market is currently in a phase where both bulls and bears wage war for control of price action. But neither bulls nor bears seem to possess the strength required to form a breakout price action. This has resulted in both Bitcoin and other major legacy cryptocurrencies seeing repeated dead cat bounce price moves across familiar price levels to the top and to the bottom. Having found short term support aka bottom from which major cryptos could now move forward, bulls are attempting to stage the next leg of upside price action which is facing strong resistance on multiple price levels.
Bitcoin has managed to find the bottom at $3500 and strong support above that at $3800 handle while Ethereum has managed to find the bottom at $130 handle followed by strong support at $135 handle. Both cryptocurrencies are now on the path to see further gains but nothing much has changed in the upside. Both currencies see resistance at same price levels which have capped gains so far this week. Bitcoin has to breach resistance at $4085 and $4150 before aiming for $4200 handle which is the biggest hurdle to be scaled to aim for new 2019 highs and long term target of $5000 handle while Ethereum needs to breach resistance at $140 handle to aim for biggest hurdle in immediate further at $150 mark the biggest hurdle so far this year. Crypto market will continue to see consolidative price action for the rest of the day followed by a correction to the downside in the near future amid lack of trigger to push for further upside price action.
Please feel free to let us know what you think in the comments below.
Thisarticlewas originally posted on FX Empire
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• GBP/USD Price Forecast – British pound chops around during trading session on Thursday || Bitcoin And Ethereum Daily Price Forecast – Major Crypto Coins To Continue Consolidative Price Action: Cryptocurrency market saw Bitcoin and major legacy cryptocurrencies breach critical resistance levels during American market hours on Wednesday. Post the upside move market has entered into a phase of consolidative price action well near overnight highs. However, crypto bulls lack the strength required to sustain a rally above critical support levels. So it will only be a short while post which profit booking or headlines influenced momentum drags the pair back below critical price levels. Even when consolidative price action goes on in the market, major cryptos will see slow and steady downside price action.
The current market scenario doesn’t vary much from my analysis yesterday. Cryptocurrency market is currently in a phase where both bulls and bears wage war for control of price action. But neither bulls nor bears seem to possess the strength required to form a breakout price action. This has resulted in both Bitcoin and other major legacy cryptocurrencies seeing repeated dead cat bounce price moves across familiar price levels to the top and to the bottom. Having found short term support aka bottom from which major cryptos could now move forward, bulls are attempting to stage the next leg of upside price action which is facing strong resistance on multiple price levels.
Bitcoin has managed to find the bottom at $3500 and strong support above that at $3800 handle while Ethereum has managed to find the bottom at $130 handle followed by strong support at $135 handle. Both cryptocurrencies are now on the path to see further gains but nothing much has changed in the upside. Both currencies see resistance at same price levels which have capped gains so far this week. Bitcoin has to breach resistance at $4085 and $4150 before aiming for $4200 handle which is the biggest hurdle to be scaled to aim for new 2019 highs and long term target of $5000 handle while Ethereum needs to breach resistance at $140 handle to aim for biggest hurdle in immediate further at $150 mark the biggest hurdle so far this year. Crypto market will continue to see consolidative price action for the rest of the day followed by a correction to the downside in the near future amid lack of trigger to push for further upside price action.
Please feel free to let us know what you think in the comments below.
Thisarticlewas originally posted on FX Empire
• USD/JPY Price Forecast – US dollar finds buyers against Japanese yen
• E-mini Dow Jones Industrial Average (YM) Futures Technical Analysis – Traders Trying to Establish Support after Early Rally Fails
• Forex Daily Recap – The Greenback Rose On Weaknesses In Major Currencies
• EUR/USD Price Forecast – Euro pulls back again
• Defensive Assets and How Should You Use It
• GBP/USD Price Forecast – British pound chops around during trading session on Thursday || Bitcoin And Ethereum Daily Price Forecast Major Crypto Coins To Continue Consolidative Price Action: Cryptocurrency market saw Bitcoin and major legacy cryptocurrencies breach critical resistance levels during American market hours on Wednesday. Post the upside move market has entered into a phase of consolidative price action well near overnight highs. However, crypto bulls lack the strength required to sustain a rally above critical support levels. So it will only be a short while post which profit booking or headlines influenced momentum drags the pair back below critical price levels. Even when consolidative price action goes on in the market, major cryptos will see slow and steady downside price action. Technical Levels Remain Unchanged To The Upside The current market scenario doesnt vary much from my analysis yesterday. Cryptocurrency market is currently in a phase where both bulls and bears wage war for control of price action. But neither bulls nor bears seem to possess the strength required to form a breakout price action. This has resulted in both Bitcoin and other major legacy cryptocurrencies seeing repeated dead cat bounce price moves across familiar price levels to the top and to the bottom. Having found short term support aka bottom from which major cryptos could now move forward, bulls are attempting to stage the next leg of upside price action which is facing strong resistance on multiple price levels. Bitcoin has managed to find the bottom at $3500 and strong support above that at $3800 handle while Ethereum has managed to find the bottom at $130 handle followed by strong support at $135 handle. Both cryptocurrencies are now on the path to see further gains but nothing much has changed in the upside. Both currencies see resistance at same price levels which have capped gains so far this week. Bitcoin has to breach resistance at $4085 and $4150 before aiming for $4200 handle which is the biggest hurdle to be scaled to aim for new 2019 highs and long term target of $5000 handle while Ethereum needs to breach resistance at $140 handle to aim for biggest hurdle in immediate further at $150 mark the biggest hurdle so far this year. Crypto market will continue to see consolidative price action for the rest of the day followed by a correction to the downside in the near future amid lack of trigger to push for further upside price action. Story continues Please feel free to let us know what you think in the comments below. This article was originally posted on FX Empire More From FXEMPIRE: USD/JPY Price Forecast US dollar finds buyers against Japanese yen E-mini Dow Jones Industrial Average (YM) Futures Technical Analysis Traders Trying to Establish Support after Early Rally Fails Forex Daily Recap The Greenback Rose On Weaknesses In Major Currencies EUR/USD Price Forecast Euro pulls back again Defensive Assets and How Should You Use It GBP/USD Price Forecast British pound chops around during trading session on Thursday || Study: 14% of Major Crypto Exchanges Are Licensed by Regulators: Only 14 percent of 216 globalcrypto exchangeswere confirmed as being licensed by regulators, regulatory technology (regtech) startup Coinfirm found in its crypto exchange riskreportreleased on March 27.
Coinfirm, аLondon-basedregulatory tech firm fordigital currenciesandblockchain, studied 216 global cryptocurrency exchanges to outline the key risks that can be associated with each platform, as well as to assist monitors in developing necessaryregulatoryframeworks. The analyzed exchanges reportedly represent more than 90 percent of global crypto market activity.
In the study, Coinfirm evaluated the exchanges into seven categories of risk, including license and authorization, Customer Due Diligence (CDD) and Know Your Customer (KYC) compliance, Anti-Money Laundering (AML) compliance, sanctions, senior public figures, jurisdiction, and negative and adverse media.
The study found that 69 percent of exchanges do not have “complete and transparent” CDD and KYC procedures, while only 26 percent introduced AML procedures such as monitoring transactions or recruiting amoney launderingofficer.
Coinfirm also found that 40 percent of analyzed exchanges do not supportfiatcurrencies and conduct exchanges only betweencryptocurrencies. Of the remaining 60 percent that do provide fiat exchanges, only 23 percent had full KYC processes that supported both deposits and withdrawals for crypto and fiat currency transactions, the report notes.
In the report, Coinfirm provided the average composite risk performance of exchanges in specific jurisdictions, with the low-risk countries including countries such as Australia, Norway, Sweden, Finland, Germany, Switzerland, and others. Among the high-risk nations, Coinfirm listed Russia, Belarus, Ukraine, Iran, a number of African countries, and others.
The United States, Canada, the United Kingdom, Brazil, China, India, Saudi Arabia were assessed as medium risk.
Average composite risk performance of crypto exchanges by country. Source:Coinfirm
Binanceexchange, thebiggestcrypto trading platform by daily trade volumes, was evaluated as a high-risk exchange due to a long lasting period of exposure to anonymous cryptos such as Monero (XMR) and ZCash (ZEC), the report reads. Coinfirm added that the exchange appeared to have been regularly changing jurisdictions, which infers potential regulatory arbitrage.
Recently, Binancepartneredwith risk management and compliance firm IdentityMind to address data security and compliance measures for Binance’s global operations by enabling IdentityMind’s KYC and AML compliance tools.
Earlier today, Binance CEO Changpeng Zhaosaidthat recentreportson fake trading volumes on CoinMarketCap are useful for the crypto industry.
• Following Launch of Services in the US, eToro Announces Listing of Tron
• Japan Introduces New Regulations for Cryptocurrency Margin Trading
• Canada: Ontario Town Approves Pilot Program for Paying Property Taxes With Bitcoin
• Swiss President Says Regulation for Blockchain Firms Should be ‘Fast and Clear’ || Study: 14% of Major Crypto Exchanges Are Licensed by Regulators: Only 14 percent of 216 global crypto exchanges were confirmed as being licensed by regulators, regulatory technology (regtech) startup Coinfirm found in its crypto exchange risk report released on March 27. Coinfirm, а London - based regulatory tech firm for digital currencies and blockchain , studied 216 global cryptocurrency exchanges to outline the key risks that can be associated with each platform, as well as to assist monitors in developing necessary regulatory frameworks. The analyzed exchanges reportedly represent more than 90 percent of global crypto market activity. In the study, Coinfirm evaluated the exchanges into seven categories of risk, including license and authorization, Customer Due Diligence (CDD) and Know Your Customer ( KYC ) compliance, Anti-Money Laundering ( AML ) compliance, sanctions, senior public figures, jurisdiction, and negative and adverse media. The study found that 69 percent of exchanges do not have “complete and transparent” CDD and KYC procedures, while only 26 percent introduced AML procedures such as monitoring transactions or recruiting a money laundering officer. Coinfirm also found that 40 percent of analyzed exchanges do not support fiat currencies and conduct exchanges only between cryptocurrencies . Of the remaining 60 percent that do provide fiat exchanges, only 23 percent had full KYC processes that supported both deposits and withdrawals for crypto and fiat currency transactions, the report notes. In the report, Coinfirm provided the average composite risk performance of exchanges in specific jurisdictions, with the low-risk countries including countries such as Australia, Norway, Sweden, Finland, Germany, Switzerland, and others. Among the high-risk nations, Coinfirm listed Russia, Belarus, Ukraine, Iran, a number of African countries, and others. The United States, Canada, the United Kingdom, Brazil, China, India, Saudi Arabia were assessed as medium risk. Average composite risk performance of crypto exchanges by country. Source: Coinfirm Average composite risk performance of crypto exchanges by country. Source: Coinfirm Binance exchange, the biggest crypto trading platform by daily trade volumes, was evaluated as a high-risk exchange due to a long lasting period of exposure to anonymous cryptos such as Monero ( XMR ) and ZCash ( ZEC ), the report reads. Coinfirm added that the exchange appeared to have been regularly changing jurisdictions, which infers potential regulatory arbitrage. Recently, Binance partnered with risk management and compliance firm IdentityMind to address data security and compliance measures for Binance’s global operations by enabling IdentityMind’s KYC and AML compliance tools. Story continues Earlier today, Binance CEO Changpeng Zhao said that recent reports on fake trading volumes on CoinMarketCap are useful for the crypto industry. Related Articles: Following Launch of Services in the US, eToro Announces Listing of Tron Japan Introduces New Regulations for Cryptocurrency Margin Trading Canada: Ontario Town Approves Pilot Program for Paying Property Taxes With Bitcoin Swiss President Says Regulation for Blockchain Firms Should be ‘Fast and Clear’ View comments || Cryptocurrency and banking apps targeted by new Android malware: A new Trojan horse malware is trying to steal fiat and crypto assets, the Next Web writes . The malware called “Gustuff” is designed specifically for Android phones, targeting customers of big international banks and cryptocurrency exchanges. According to the cybersecurity company Group-IB which identified the new threat, Gustuff comes equipped with fully automated functionality that causes “mass infections and maximum profit for its operators.” The malware phishes for sensitive data utilising Android‘s accessibility features. “Using the Accessibility Service mechanism means that the Trojan is able to bypass security measures used by banks to protect against older generation of mobile Trojans and changes to Google’s security policy introduced in new versions of the Android OS,” said Group-IB. Group-IB also warned the malware can mimic legitimate push notifications. So far, 32 cryptocurrency apps have been targets, including Coinbase, BitPay, and Bitcoin Wallet. The malware also targets JPMorgan, Wells Fargo, and Bank of America clients, as well as payment systems and messenger services. Group-IB discovered Gustuff spreads via SMS messages. It provides links to “malicious Android package kit files," using contact lists to spread from user to user. Group-IB advises users only download apps from Google Play. || Cryptocurrency and banking apps targeted by new Android malware: A new Trojan horse malware is trying to steal fiat and crypto assets,the Next Web writes. The malware called “Gustuff” is designed specifically for Android phones, targeting customers of big international banks and cryptocurrency exchanges.
According to the cybersecurity company Group-IB which identified the new threat, Gustuff comes equipped with fully automated functionality that causes “mass infections and maximum profit for its operators.” The malware phishes for sensitive data utilising Android‘s accessibility features.
“Using the Accessibility Service mechanism means that the Trojan is able to bypass security measures used by banks to protect against older generation of mobile Trojans and changes to Google’s security policy introduced in new versions of the Android OS,” said Group-IB.
Group-IB also warned the malware can mimic legitimate push notifications.
So far, 32 cryptocurrency apps have been targets, including Coinbase, BitPay, and Bitcoin Wallet. The malware also targets JPMorgan, Wells Fargo, and Bank of America clients, as well as payment systems and messenger services.
Group-IB discovered Gustuff spreads via SMS messages. It provides links to “malicious Android package kit files," using contact lists to spread from user to user. Group-IB advises users only download apps from Google Play. || Bitcoin Adoption Crippled by Publics Serious Mental Barrier: Bitcoin's failing to catch on because the public has a lack of imagination. | Source: AFP PHOTO / PHILIPPE LOPEZ By CCN.com : Bitcoin wont go mainstream anytime soon because theres a societal mental block thats hindering mass adoption. Thats the opinion of Jack Mallers, creator of the Zap Lightning Network wallet. Mallers made the remarks at a recent forum hosted by the MIT Bitcoin Club (video below). Mallers: Bitcoin Skeptics Think Its Too Risky Mallers believes the reluctance to embrace bitcoin is tied to the negative public perception of crypto more so than technical obstacles. Theres a serious mental barrier that needs to be broken down as far as peoples relationship with bitcoin and the asset itself, Mallers said, as first reported by Forbes . They dont look at it as very useful. They look at it as highly speculative. However, Mallers says regulatory clarity from the SEC and the approval of a bitcoin ETF could make people feel less anxious. Time and Public Awareness Are the Solutions Justin Moon of Buidl Bootcamp says time is an important incubator before crypto can achieve mainstream acceptance. Read the full story on CCN.com .
[Social Media Buzz]
03-29 12:00(GMT)
#SPINDLE price
$SPD (BTC)
Yobit :0.00000014
HitBTC :0.00000014
LiveCoin:0.00000017
$SPD (JPY)
Yobit :0.06
HitBTC :0.06
LiveCoin:0.08 || $1,536,313 worth of #Bitcoin bought at $4,109.4 00:25:08.051Z 2019/03/30
| http://bit.ly/BitMexCheapFees | "Wait for the bounce, then short the corn" || 24H
2019/03/29 16:00 (2019/03/28 16:00)
LONG : 23882.97 BTC (+304.46 BTC)
SHORT : 18246.59 BTC (+183.32 BTC)
LS比 : 56% vs 43% (56% vs 43%) || ツイート数の多かった仮想通貨
1位 $BTC 425 Tweets
2位 $TRX ...
|
4106.66, 4105.40, 4158.18, 4879.88, 4973.02, 4922.80, 5036.68, 5059.82, 5198.90, 5289.77
|
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 8658.55, 8864.77, 8988.60, 8897.47, 8912.65, 9003.07, 9268.76, 9951.52, 9842.67, 9593.90, 8756.43, 8601.80, 8804.48, 9269.99, 9733.72, 9328.20, 9377.01, 9670.74, 9726.58, 9729.04, 9522.98, 9081.76, 9182.58, 9209.29, 8790.37, 8906.93, 8835.05, 9181.02, 9525.75, 9439.12, 9700.41, 9461.06, 10167.27, 9529.80, 9656.72, 9800.64, 9665.53, 9653.68, 9758.85, 9771.49, 9795.70, 9870.09, 9321.78, 9480.84, 9475.28, 9386.79, 9450.70, 9538.02, 9480.25, 9411.84, 9288.02, 9332.34, 9303.63, 9648.72, 9629.66, 9313.61, 9264.81, 9162.92, 9045.39, 9143.58, 9190.85, 9137.99, 9228.33, 9123.41, 9087.30, 9132.49, 9073.94, 9375.47, 9252.28, 9428.33, 9277.97, 9278.81, 9240.35, 9276.50, 9243.61, 9243.21, 9192.84, 9132.23, 9151.39, 9159.04, 9185.82, 9164.23, 9374.89, 9525.36, 9581.07, 9536.89, 9677.11, 9905.17, 10990.87, 10912.82.
|
[Bitcoin Technical Analysis for 2020-07-28]
Volume: 28766551142, RSI (14-day): 81.72, 50-day EMA: 9423.45, 200-day EMA: 8792.85
[Wider Market Context]
Gold Price: 1944.70, Gold RSI: 83.21
Oil Price: 41.04, Oil RSI: 56.80
[Recent News (last 7 days)]
Fueled by bitcoin’s rise, Bakkt reports record high volumes for its bitcoin futures market: Bakkt just reported the largest single-day volumes for its physically-settled monthly bitcoin future contract. On Monday, the Bitcoin futures market, saw a new all-time daily high of 11,509BTC, an amount worth nearly $114M based on the closing bitcoin price as reported by CoinMarketCap. As shown in the volume chart below, Monday's figure represents a significant spike in activity compared to recent weeks. The last such spike took place in May. Today's record-setting day was an 84% increase from its last all-time high in December 2019. Not counting today's volume, the average daily volume for Bakkt's futures market is 1,726 BTC, roughly $14.7M, year-to-date. As data from Skew indicates, Bakkt occupies only a sliver of the wider bitcoin future market. On Friday, for example, Bakkt saw more futures trading than Kraken but was dwarfed by market leaders Huobi, Binance, and others. Bakkt raised $300 million in a Series B funding round in March, as The Block previously reported. © 2020 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice. View comments || Fueled by bitcoin’s rise, Bakkt reports record high volumes for its bitcoin futures market: Bakkt just reported the largest single-day volumes for its physically-settled monthly bitcoin future contract. On Monday, the Bitcoin futures market, saw a new all-time daily high of 11,509BTC, an amount worth nearly $114M based on the closing bitcoin price as reported by CoinMarketCap.
As shown in the volume chart below, Monday's figure represents a significant spike in activity compared to recent weeks. The last such spike took place in May. Today's record-setting day was an 84% increase from its last all-time high in December 2019.
Not counting today's volume, the average daily volume for Bakkt's futures market is 1,726 BTC, roughly $14.7M, year-to-date. As data fromSkewindicates, Bakkt occupies only a sliver of the wider bitcoin future market. On Friday, for example, Bakkt saw more futures trading than Kraken but was dwarfed by market leaders Huobi, Binance, and others.
Bakktraised$300 million in a Series B funding round in March, as The Block previously reported.
© 2020 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice. || Gold Reaches All-Time High as Bitcoin Breaks Above $11k: The price of gold reached a new all-time intraday high of $1,942 Monday, extending a rally that started in 2019.
• A record high for the yellow metal comes during an approximately 28% rally since January.
• Gold’s previous record high of $1,924 was reached on Sept. 6, 2011.
• Bitcoin, often viewed as digital gold, soared to $11,400 as the stalwart cryptocurrency keeps pace with gold.
• Bitcoin gained more than 13% over the past 24 hours, according toOnChainFX.
• Gold Reaches All-Time High as Bitcoin Breaks Above $11k
• Gold Reaches All-Time High as Bitcoin Breaks Above $11k
• Gold Reaches All-Time High as Bitcoin Breaks Above $11k
• Gold Reaches All-Time High as Bitcoin Breaks Above $11k || Gold Reaches All-Time High as Bitcoin Breaks Above $11k: The price of gold reached a new all-time intraday high of $1,942 Monday, extending a rally that started in 2019.
• A record high for the yellow metal comes during an approximately 28% rally since January.
• Gold’s previous record high of $1,924 was reached on Sept. 6, 2011.
• Bitcoin, often viewed as digital gold, soared to $11,400 as the stalwart cryptocurrency keeps pace with gold.
• Bitcoin gained more than 13% over the past 24 hours, according toOnChainFX.
• Gold Reaches All-Time High as Bitcoin Breaks Above $11k
• Gold Reaches All-Time High as Bitcoin Breaks Above $11k
• Gold Reaches All-Time High as Bitcoin Breaks Above $11k
• Gold Reaches All-Time High as Bitcoin Breaks Above $11k || Gold Reaches All-Time High as Bitcoin Breaks Above $11k: The price of gold reached a new all-time intraday high of $1,942 Monday, extending a rally that started in 2019. A record high for the yellow metal comes during an approximately 28% rally since January. Gold’s previous record high of $1,924 was reached on Sept. 6, 2011. Bitcoin , often viewed as digital gold, soared to $11,400 as the stalwart cryptocurrency keeps pace with gold. Bitcoin gained more than 13% over the past 24 hours, according to OnChainFX . Related Stories Gold Reaches All-Time High as Bitcoin Breaks Above $11k Gold Reaches All-Time High as Bitcoin Breaks Above $11k Gold Reaches All-Time High as Bitcoin Breaks Above $11k Gold Reaches All-Time High as Bitcoin Breaks Above $11k || Polkadot Raises $43M in 72-Hour Private Sale: Source: A second private sale of the Polkadot token (DOT) netted the Web3 Foundation and Parity Technologies some 3,982.07 bitcoin (BTC) worth an estimated $43.3 million at press time, according to sources. A bitcoin address shared with CoinDesk saw 1,059 transactions beginning July 24 at 5:22 UTC. The token offering was not available in certain jurisdictions such as the United States, according to the sale’s website . Dots were listed for $125 per token, according to Reddit users claiming to be involved in the sale. The Web3 Foundation did not return requests for comment. Related: Polkadot's Inaugural Vote Could Expand DOT Supply by 1,000x Additionally, the Polkadot community voted to redenominate the smallest subunit of the DOT token, the Planck, this past weekend for a “simpler, smoother user experience when using DOTs within the network,” the Web3 Foundation said in a tweet . “The community vastly favours a New DOT denomination which is defined as 10,000,000,000 Planck or, put alternatively, a ‘stock-split’ of the original, old DOT by one hundred,” Polkadot and Parity Technologies founder Gavin Wood said in a July 26 blog post . Read more: Polkadot’s Inaugural Vote Could Expand DOT Supply by 1,000x Polkadot raised $145 million in 2017, selling 50% of the network’s then 10 million dots, according to Messari . (The number of dot tokens has since risen , following the redenomination vote.) Related: Bitcoin News Roundup for June 19, 2020 Polkadot’s raise comes on the heels of last week’s $42 million public sale of the Avalanche blockchain’s avax token. Zack Voell contributed reporting. Related Stories Polkadot Raises $43M in 72-Hour Private Sale: Source Polkadot Raises $43M in 72-Hour Private Sale: Source View comments || Polkadot Raises $43M in 72-Hour Private Sale: Source: A second private sale of the Polkadot token (DOT) netted the Web3 Foundation and Parity Technologies some 3,982.07 bitcoin (BTC) worth an estimated $43.3 million at press time, according to sources. A bitcoin address shared with CoinDesk saw 1,059 transactions beginning July 24 at 5:22 UTC. The token offering was not available in certain jurisdictions such as the United States, according to the sale’s website . Dots were listed for $125 per token, according to Reddit users claiming to be involved in the sale. The Web3 Foundation did not return requests for comment. Related: Polkadot's Inaugural Vote Could Expand DOT Supply by 1,000x Additionally, the Polkadot community voted to redenominate the smallest subunit of the DOT token, the Planck, this past weekend for a “simpler, smoother user experience when using DOTs within the network,” the Web3 Foundation said in a tweet . “The community vastly favours a New DOT denomination which is defined as 10,000,000,000 Planck or, put alternatively, a ‘stock-split’ of the original, old DOT by one hundred,” Polkadot and Parity Technologies founder Gavin Wood said in a July 26 blog post . Read more: Polkadot’s Inaugural Vote Could Expand DOT Supply by 1,000x Polkadot raised $145 million in 2017, selling 50% of the network’s then 10 million dots, according to Messari . (The number of dot tokens has since risen , following the redenomination vote.) Related: Bitcoin News Roundup for June 19, 2020 Polkadot’s raise comes on the heels of last week’s $42 million public sale of the Avalanche blockchain’s avax token. Zack Voell contributed reporting. Related Stories Polkadot Raises $43M in 72-Hour Private Sale: Source Polkadot Raises $43M in 72-Hour Private Sale: Source View comments || An Innovative Way for Investors to Generate Income: This article was originally published on ETFTrends.com. Even in volatile market environments, diversifying outside of traditional sectors can help deliver consistent income with lower volatility. In the upcoming webcast, An Innovative Way for Investors to Generate Income , Samantha Azzarello, Executive Director, Global Market Strategist, J.P. Morgan Asset Management; and Hamilton Reiner, Managing Director, Portfolio Manager, J.P. Morgan Asset Management, will outline the current market environment and discuss how an actively managed equity premium income strategy can help financial advisors generate a steady monthly income stream. Specifically, the recently launched JPMorgan Equity Premium Income ETF (JEPI) shows an 11.85% 30-day SEC yield. “The Equity Premium Income Fund provides diverse opportunities to earn income from both dividends and options premiums. A unique feature of this fund is the monthly payout of all income earned — so what you earn is what you keep. The result is consistent monthly income even in volatile market environments,” according to J.P. Morgan Asset Management. The JPMorgan Equity Premium Income ETF targets a significant portion of S&P 500 returns with less volatility, seeking annualized income distributed monthly. The fund leverages an experienced equity management team comprising more than 50 years of combined experience and headed by 32-year industry veteran Hamilton Reiner as the lead portfolio manager. JEPI tries to generate income through a combination of selling options and investing in U.S. large cap stocks, providing investors with a monthly income stream from associated option premiums and stock dividends. The fund managers try to construct a diversified, low volatility equity portfolio through a proprietary research process designed to identify over- and under-valued stocks with attractive risk-to-return characteristics. The actively managed ETF is an adaptation of the JPMorgan Equity Premium Income Fund (JEPIX), which has been running since August 2018. Story continues Furthermore, this yield-generating strategy may help fixed-income investors diversify their total return portfolio with lower equity risk. “The Fund acts as an income diversifier given its ability to distribute income without exposure to the duration or interest risk relative to other income-yielding products. By selling call options on the Fund’s managed volatility, diversified large-cap stock portfolio, the Fund seeks to deliver monthly income with less volatility than the broader market,” according to J.P. Morgan Asset Management. Financial advisors who are interested in learning more about income-generating ideas can register for the Tuesday, July 28 webcast here . POPULAR ARTICLES AND RESOURCES FROM ETFTRENDS.COM SPY ETF Quote VOO ETF Quote QQQ ETF Quote VTI ETF Quote JNUG ETF Quote Top 34 Gold ETFs Top 34 Oil ETFs Top 57 Financials ETFs An Innovative Way for Investors to Generate Income Investors Preferred Passive ETFs Over Active Strategies in Volatile 2020 Why Invest in Ultra-Short, Active Strategies in Today’s Markets Stimulus Hopes Lifts U.S. Stock ETFs Bitcoin Gets A Boost As Gold Surges READ MORE AT ETFTRENDS.COM > || An Innovative Way for Investors to Generate Income: This article was originally published onETFTrends.com.
Even in volatile market environments, diversifying outside of traditional sectors can help deliver consistent income with lower volatility.
In the upcoming webcast,An Innovative Way for Investors to Generate Income, Samantha Azzarello, Executive Director, Global Market Strategist, J.P. Morgan Asset Management; and Hamilton Reiner, Managing Director, Portfolio Manager, J.P. Morgan Asset Management, will outline the current market environment and discuss how an actively managed equity premium income strategy can help financial advisors generate a steady monthly income stream.
Specifically, the recently launchedJPMorgan Equity Premium Income ETF (JEPI)shows an 11.85% 30-day SEC yield.
“The Equity Premium Income Fund provides diverse opportunities to earn income from both dividends and options premiums. A unique feature of this fund is the monthly payout of all income earned — so what you earn is what you keep. The result is consistent monthly income even in volatile market environments,” according to J.P. Morgan Asset Management.
The JPMorgan Equity Premium Income ETF targets a significant portion of S&P 500 returns with less volatility, seeking annualized income distributed monthly. The fund leverages an experienced equity management team comprising more than 50 years of combined experience and headed by 32-year industry veteran Hamilton Reiner as the lead portfolio manager.
JEPI tries to generate income through a combination of selling options and investing in U.S. large cap stocks, providing investors with a monthly income stream from associated option premiums and stock dividends. The fund managers try to construct a diversified, low volatility equity portfolio through a proprietary research process designed to identify over- and under-valued stocks with attractive risk-to-return characteristics.
The actively managed ETF is an adaptation of the JPMorgan Equity Premium Income Fund (JEPIX), which has been running since August 2018.
Furthermore, this yield-generating strategy may help fixed-income investors diversify their total return portfolio with lower equity risk.
“The Fund acts as an income diversifier given its ability to distribute income without exposure to the duration or interest risk relative to other income-yielding products. By selling call options on the Fund’s managed volatility, diversified large-cap stock portfolio, the Fund seeks to deliver monthly income with less volatility than the broader market,” according to J.P. Morgan Asset Management.
Financial advisors who are interested in learning more about income-generating ideas canregister for the Tuesday, July 28 webcast here.
POPULAR ARTICLES AND RESOURCES FROM ETFTRENDS.COM
• SPY ETF Quote
• VOO ETF Quote
• QQQ ETF Quote
• VTI ETF Quote
• JNUG ETF Quote
• Top 34 Gold ETFs
• Top 34 Oil ETFs
• Top 57 Financials ETFs
• An Innovative Way for Investors to Generate Income
• Investors Preferred Passive ETFs Over Active Strategies in Volatile 2020
• Why Invest in Ultra-Short, Active Strategies in Today’s Markets
• Stimulus Hopes Lifts U.S. Stock ETFs
• Bitcoin Gets A Boost As Gold Surges
READ MORE AT ETFTRENDS.COM > || Investors Preferred Passive ETFs Over Active Strategies in Volatile 2020: This article was originally published onETFTrends.com.
As the markets oscillated in volatile trading this year, investors looked to passive or index-based exchange traded funds, forgoing the acumen of stock pickers in active strategies.
Investors fled well-known active investment houses in favor of cheap passive products, with BlackRock and Vanguard among the most popular destinations,Financial Timesreports.
“Passive funds are on a tear — again. The widely held belief that the active houses will outshine them in a period of market turmoil has yet to be supported by the data,” Amin Rajan, chief executive of CreateResearch, an asset management consultancy, told the Financial Times.
Specifically, big money managers like Invesco, Franklin Templeton, Pimco, T Rowe Price, and Capital Group all suffered net redemptions of between $17.9 billion and $32.2 billion in their fund products over the first six months of 2020, according to Morningstar the data.
On the other hand, BlackRock attracted almost $74 billion in net inflows across its open-end funds, with its iShares ETFs accounting for the lion’s share of sales. Meanwhile, Vanguard enjoyed net inflows of $67.7 billion while State Street Global Advisors saw inflows of over $20 billion.
“The figures show a clear shift to passive managers, with iShares, Vanguard and State Street all benefiting from large inflows as more investors shift away from active fund managers,” Ryan Hughes, head of active portfolios at AJ Bell, told the Financial Times.
Tony Thomas, Senior Manager Research Analyst for Morningstar, also highlighted the growing willingness among investors to pick up passive funds for fixed-income exposure, which has hit big bond managers like PIMCO as more investors make the change. Investors globally added $98 billion to fixed-income index funds in the first six months of 2020 and yanked $50 billion from non-index, actively managed products.
“Fixed-income funds and [asset managers] have had a wild ride in 2020,” Thomas told the Financial Times, pointing out that at Vanguard, there was a “tug of war between equity and fixed-income flows in the first half of 2020”.
“While both asset classes saw net inflows in the six-month period, Vanguard’s equity strategies had $43bn of outflows in the second quarter, while the fixed-income suite had $76bn of inflows,” Thomas added.
For more information on the markets, visit ourcurrent affairs category.
POPULAR ARTICLES AND RESOURCES FROM ETFTRENDS.COM
• SPY ETF Quote
• VOO ETF Quote
• QQQ ETF Quote
• VTI ETF Quote
• JNUG ETF Quote
• Top 34 Gold ETFs
• Top 34 Oil ETFs
• Top 57 Financials ETFs
• An Innovative Way for Investors to Generate Income
• Investors Preferred Passive ETFs Over Active Strategies in Volatile 2020
• Why Invest in Ultra-Short, Active Strategies in Today’s Markets
• Stimulus Hopes Lifts U.S. Stock ETFs
• Bitcoin Gets A Boost As Gold Surges
READ MORE AT ETFTRENDS.COM > || Investors Preferred Passive ETFs Over Active Strategies in Volatile 2020: This article was originally published on ETFTrends.com. As the markets oscillated in volatile trading this year, investors looked to passive or index-based exchange traded funds, forgoing the acumen of stock pickers in active strategies. Investors fled well-known active investment houses in favor of cheap passive products, with BlackRock and Vanguard among the most popular destinations, Financial Times reports. “Passive funds are on a tear — again. The widely held belief that the active houses will outshine them in a period of market turmoil has yet to be supported by the data,” Amin Rajan, chief executive of CreateResearch, an asset management consultancy, told the Financial Times. Specifically, big money managers like Invesco, Franklin Templeton, Pimco, T Rowe Price, and Capital Group all suffered net redemptions of between $17.9 billion and $32.2 billion in their fund products over the first six months of 2020, according to Morningstar the data. On the other hand, BlackRock attracted almost $74 billion in net inflows across its open-end funds, with its iShares ETFs accounting for the lion’s share of sales. Meanwhile, Vanguard enjoyed net inflows of $67.7 billion while State Street Global Advisors saw inflows of over $20 billion. “The figures show a clear shift to passive managers, with iShares, Vanguard and State Street all benefiting from large inflows as more investors shift away from active fund managers,” Ryan Hughes, head of active portfolios at AJ Bell, told the Financial Times. Tony Thomas, Senior Manager Research Analyst for Morningstar, also highlighted the growing willingness among investors to pick up passive funds for fixed-income exposure, which has hit big bond managers like PIMCO as more investors make the change. Investors globally added $98 billion to fixed-income index funds in the first six months of 2020 and yanked $50 billion from non-index, actively managed products. “Fixed-income funds and [asset managers] have had a wild ride in 2020,” Thomas told the Financial Times, pointing out that at Vanguard, there was a “tug of war between equity and fixed-income flows in the first half of 2020”. Story continues “While both asset classes saw net inflows in the six-month period, Vanguard’s equity strategies had $43bn of outflows in the second quarter, while the fixed-income suite had $76bn of inflows,” Thomas added. For more information on the markets, visit our current affairs category . POPULAR ARTICLES AND RESOURCES FROM ETFTRENDS.COM SPY ETF Quote VOO ETF Quote QQQ ETF Quote VTI ETF Quote JNUG ETF Quote Top 34 Gold ETFs Top 34 Oil ETFs Top 57 Financials ETFs An Innovative Way for Investors to Generate Income Investors Preferred Passive ETFs Over Active Strategies in Volatile 2020 Why Invest in Ultra-Short, Active Strategies in Today’s Markets Stimulus Hopes Lifts U.S. Stock ETFs Bitcoin Gets A Boost As Gold Surges READ MORE AT ETFTRENDS.COM > || Market Wrap: Bitcoin Blasts Past $10,000; Ethereum Fees Up 550% in 2020: High spot bitcoin volume not seen since June is helping price while Ethereum’s DeFi expansion continues to include costly network fees.
• Bitcoin(BTC) trading around $10,829 as of 20:00 UTC (4 p.m. ET). Gaining 9.7% over the previous 24 hours.
• Bitcoin’s 24-hour range: $9,849-$10,964
• BTC above 10-day and 50-day moving averages, a bullish signal for market technicians.
Bitcoin hit $10,964 on spot exchange Coinbase Monday, a price level not seen since August 2019. “The bitcoin breakout seemed to finally have happened as we lifted off from $9,800,” said Jack Tan, of Taiwan-based quantitative trading firm Kronos Research. “The trend is clear and we are headed higher.”
Read More:Odds of Bitcoin Hitting Record High in 2020 Are (Slightly) Up
Related:Bitcoin Futures Volume Surges 186% as Price Hits $11K
Bitcoin trading volume on Coinbase Monday was at $292 million. This was the highest since June 11, when volumes hit $255 million.
Traders have long discussed the $10,500 price range as a level to stay above to fuel a lengthy bull run, said Neil Van Huis, director of institutional trading at Chicago-based crypto liquidity provider Blockfills. “We need to stay over $10,500, so I would probably want to see a sharp interest in demand above that and to stay over it for more than 24 hours to see if the bullishness has legs,” Van Huis said.
Despite the excitement Monday, bitcoin’s jump might compel selling in the alternative cryptocurrency, or altcoin, market, said Kronos’ Tan. “Unfortunately, this might actually suck the energy out of the altcoins and high-flying DeFi tokens.”
One dynamic to watch: The ETH/BTC pair Monday is down 4% on Coinbase as traders are selling ether for bitcoin on the spot market.
Related:First Mover: The Dollar Drop May Have Helped Push Bitcoin Past $11K
Regardless of the rebalancing, Chris Thomas, head of digital assets for broker Swissquote, says DeFi is the main reason for the cryptocurrency markets’ move up overall. “It’s purely DeFi driven,” said Chris Thomas. “We will likely see a lot more of this, resulting in ether driving higher and pulling everything else with it.”
Ether(ETH), the second-largest cryptocurrency by market capitalization, was up Monday trading around $323 and climbing 5.6% in 24 hours as of 20:00 UTC (4:00 p.m. ET).
Read More:Ethereum Miners’ Income Soars by 60% in a Month
In January, the average fee on the Ethereum network was 0.000542 ETH. So far in July, average fees on Ethereum are at 0.003532 ETH, a 550% increase in the cost to conduct transactions on the second-largest blockchain by market cap, according to data aggregator Blockchair.
“The recent rise of ether’s price could be explained by the fact that large users and investors in the DeFi ecosystem are buying ETH now in order to pay less gas fees for each transaction,” said Jean-Baptiste Pavageau partner at Paris-based quant firm ExoAlpha.
Some traders may be taking advantage of this rise in fees, stockpiling ether as the situation may only exacerbate as 2020 continues. “Speculators are actively monitoring the DeFi ecosystem and are anticipating growth of the Ethereum network over the coming months, increasing the demand in ether to pay for the gas fee of each transaction,” added Pavageau.
Read More:MakerDAO Passes $1B Milestone in DeFi First
Digital assets on theCoinDesk 20are mixed Monday. Notable winners as of 20:00 UTC (4:00 p.m. ET):
• ethereum classic(ETC) + 9.5%
• bitcoin sv(BSV) + 9%
• bitcoin cash(BCH) + 8.9%
Read More:FTX to Launch ‘Scalable’ Decentralized Exchange in Weeks
Notable losers as of 20:00 UTC (4:00 p.m. ET):
• tezos(XTZ) – 4%
• basic attention token(BAT) – 3.8%
• stellar(XLM) – 3.3%
Read More:You Can Now Buy Hedera Hashgraph’s HBAR Token via Simplex
Equities:
• The Nikkei 225 in Asia ended the day in the red 0.16% after a four-day weekend,dragged lower by anxiety in U.S.-China relations.
• The FTSE 100 in Europe slipped 0.31% Mondayas travel stocks took a beating on fresh quarantine rules in Spain.
• The U.S. S&P 500 index gained 0.60%,with positive sentiment supported by the U.S. government's $472 million allocation to coronavirus vaccine research.
Read More:Silvergate’s Bitcoin-Backed Lending Product Grew 80% in the Last Quarter
Commodities:
• Gold is up 2% at $1,938.40 as of press time. The yellow metal’s price hit an all-time high of $1,945.72 Monday. Its previous high of $1,921.18 occurred in 2011.
• Oil is up 0.86%. Price per barrel of West Texas Intermediate crude: $41.60
Read More:85% of Italian Banks Are Exchanging Interbank Transfer Data on Corda
Treasurys:
• U.S. Treasury bonds were mixed Monday. Yields, which move in the opposite direction as price, were up most on the 10-year, in the green 3.2%.
• Market Wrap: Bitcoin Blasts Past $10,000; Ethereum Fees Up 550% in 2020
• Market Wrap: Bitcoin Blasts Past $10,000; Ethereum Fees Up 550% in 2020 || Market Wrap: Bitcoin Blasts Past $10,000; Ethereum Fees Up 550% in 2020: High spot bitcoin volume not seen since June is helping price while Ethereum’s DeFi expansion continues to include costly network fees. Bitcoin (BTC) trading around $10,829 as of 20:00 UTC (4 p.m. ET). Gaining 9.7% over the previous 24 hours. Bitcoin’s 24-hour range: $9,849-$10,964 BTC above 10-day and 50-day moving averages, a bullish signal for market technicians. Bitcoin hit $10,964 on spot exchange Coinbase Monday, a price level not seen since August 2019. “The bitcoin breakout seemed to finally have happened as we lifted off from $9,800,” said Jack Tan, of Taiwan-based quantitative trading firm Kronos Research. “The trend is clear and we are headed higher.” Read More: Odds of Bitcoin Hitting Record High in 2020 Are (Slightly) Up Related: Bitcoin Futures Volume Surges 186% as Price Hits $11K Bitcoin trading volume on Coinbase Monday was at $292 million. This was the highest since June 11, when volumes hit $255 million. Traders have long discussed the $10,500 price range as a level to stay above to fuel a lengthy bull run, said Neil Van Huis, director of institutional trading at Chicago-based crypto liquidity provider Blockfills. “We need to stay over $10,500, so I would probably want to see a sharp interest in demand above that and to stay over it for more than 24 hours to see if the bullishness has legs,” Van Huis said. Despite the excitement Monday, bitcoin’s jump might compel selling in the alternative cryptocurrency, or altcoin, market, said Kronos’ Tan. “Unfortunately, this might actually suck the energy out of the altcoins and high-flying DeFi tokens.” One dynamic to watch: The ETH/BTC pair Monday is down 4% on Coinbase as traders are selling ether for bitcoin on the spot market. Related: First Mover: The Dollar Drop May Have Helped Push Bitcoin Past $11K Regardless of the rebalancing, Chris Thomas, head of digital assets for broker Swissquote, says DeFi is the main reason for the cryptocurrency markets’ move up overall. “It’s purely DeFi driven,” said Chris Thomas. “We will likely see a lot more of this, resulting in ether driving higher and pulling everything else with it.” Story continues Ethereum fees jump 550% in 2020 Ether (ETH), the second-largest cryptocurrency by market capitalization, was up Monday trading around $323 and climbing 5.6% in 24 hours as of 20:00 UTC (4:00 p.m. ET). Read More: Ethereum Miners’ Income Soars by 60% in a Month In January, the average fee on the Ethereum network was 0.000542 ETH. So far in July, average fees on Ethereum are at 0.003532 ETH, a 550% increase in the cost to conduct transactions on the second-largest blockchain by market cap, according to data aggregator Blockchair. “The recent rise of ether’s price could be explained by the fact that large users and investors in the DeFi ecosystem are buying ETH now in order to pay less gas fees for each transaction,” said Jean-Baptiste Pavageau partner at Paris-based quant firm ExoAlpha. Some traders may be taking advantage of this rise in fees, stockpiling ether as the situation may only exacerbate as 2020 continues. “Speculators are actively monitoring the DeFi ecosystem and are anticipating growth of the Ethereum network over the coming months, increasing the demand in ether to pay for the gas fee of each transaction,” added Pavageau. Read More: MakerDAO Passes $1B Milestone in DeFi First Other markets Digital assets on the CoinDesk 20 are mixed Monday. Notable winners as of 20:00 UTC (4:00 p.m. ET): ethereum classic (ETC) + 9.5% bitcoin sv (BSV) + 9% bitcoin cash (BCH) + 8.9% Read More: FTX to Launch ‘Scalable’ Decentralized Exchange in Weeks Notable losers as of 20:00 UTC (4:00 p.m. ET): tezos (XTZ) – 4% basic attention token (BAT) – 3.8% stellar (XLM) – 3.3% Read More: You Can Now Buy Hedera Hashgraph’s HBAR Token via Simplex Equities: The Nikkei 225 in Asia ended the day in the red 0.16% after a four-day weekend, dragged lower by anxiety in U.S.-China relations . The FTSE 100 in Europe slipped 0.31% Monday as travel stocks took a beating on fresh quarantine rules in Spain . The U.S. S&P 500 index gained 0.60%, with positive sentiment supported by the U.S. government's $472 million allocation to coronavirus vaccine research. Read More: Silvergate’s Bitcoin-Backed Lending Product Grew 80% in the Last Quarter Commodities: Gold is up 2% at $1,938.40 as of press time. The yellow metal’s price hit an all-time high of $1,945.72 Monday. Its previous high of $1,921.18 occurred in 2011. Oil is up 0.86%. Price per barrel of West Texas Intermediate crude: $41.60 Read More: 85% of Italian Banks Are Exchanging Interbank Transfer Data on Corda Treasurys: U.S. Treasury bonds were mixed Monday. Yields, which move in the opposite direction as price, were up most on the 10-year, in the green 3.2%. Related Stories Market Wrap: Bitcoin Blasts Past $10,000; Ethereum Fees Up 550% in 2020 Market Wrap: Bitcoin Blasts Past $10,000; Ethereum Fees Up 550% in 2020 || Market Wrap: Bitcoin Blasts Past $10,000; Ethereum Fees Up 550% in 2020: High spot bitcoin volume not seen since June is helping price while Ethereum’s DeFi expansion continues to include costly network fees.
• Bitcoin(BTC) trading around $10,829 as of 20:00 UTC (4 p.m. ET). Gaining 9.7% over the previous 24 hours.
• Bitcoin’s 24-hour range: $9,849-$10,964
• BTC above 10-day and 50-day moving averages, a bullish signal for market technicians.
Bitcoin hit $10,964 on spot exchange Coinbase Monday, a price level not seen since August 2019. “The bitcoin breakout seemed to finally have happened as we lifted off from $9,800,” said Jack Tan, of Taiwan-based quantitative trading firm Kronos Research. “The trend is clear and we are headed higher.”
Read More:Odds of Bitcoin Hitting Record High in 2020 Are (Slightly) Up
Related:Bitcoin Futures Volume Surges 186% as Price Hits $11K
Bitcoin trading volume on Coinbase Monday was at $292 million. This was the highest since June 11, when volumes hit $255 million.
Traders have long discussed the $10,500 price range as a level to stay above to fuel a lengthy bull run, said Neil Van Huis, director of institutional trading at Chicago-based crypto liquidity provider Blockfills. “We need to stay over $10,500, so I would probably want to see a sharp interest in demand above that and to stay over it for more than 24 hours to see if the bullishness has legs,” Van Huis said.
Despite the excitement Monday, bitcoin’s jump might compel selling in the alternative cryptocurrency, or altcoin, market, said Kronos’ Tan. “Unfortunately, this might actually suck the energy out of the altcoins and high-flying DeFi tokens.”
One dynamic to watch: The ETH/BTC pair Monday is down 4% on Coinbase as traders are selling ether for bitcoin on the spot market.
Related:First Mover: The Dollar Drop May Have Helped Push Bitcoin Past $11K
Regardless of the rebalancing, Chris Thomas, head of digital assets for broker Swissquote, says DeFi is the main reason for the cryptocurrency markets’ move up overall. “It’s purely DeFi driven,” said Chris Thomas. “We will likely see a lot more of this, resulting in ether driving higher and pulling everything else with it.”
Ether(ETH), the second-largest cryptocurrency by market capitalization, was up Monday trading around $323 and climbing 5.6% in 24 hours as of 20:00 UTC (4:00 p.m. ET).
Read More:Ethereum Miners’ Income Soars by 60% in a Month
In January, the average fee on the Ethereum network was 0.000542 ETH. So far in July, average fees on Ethereum are at 0.003532 ETH, a 550% increase in the cost to conduct transactions on the second-largest blockchain by market cap, according to data aggregator Blockchair.
“The recent rise of ether’s price could be explained by the fact that large users and investors in the DeFi ecosystem are buying ETH now in order to pay less gas fees for each transaction,” said Jean-Baptiste Pavageau partner at Paris-based quant firm ExoAlpha.
Some traders may be taking advantage of this rise in fees, stockpiling ether as the situation may only exacerbate as 2020 continues. “Speculators are actively monitoring the DeFi ecosystem and are anticipating growth of the Ethereum network over the coming months, increasing the demand in ether to pay for the gas fee of each transaction,” added Pavageau.
Read More:MakerDAO Passes $1B Milestone in DeFi First
Digital assets on theCoinDesk 20are mixed Monday. Notable winners as of 20:00 UTC (4:00 p.m. ET):
• ethereum classic(ETC) + 9.5%
• bitcoin sv(BSV) + 9%
• bitcoin cash(BCH) + 8.9%
Read More:FTX to Launch ‘Scalable’ Decentralized Exchange in Weeks
Notable losers as of 20:00 UTC (4:00 p.m. ET):
• tezos(XTZ) – 4%
• basic attention token(BAT) – 3.8%
• stellar(XLM) – 3.3%
Read More:You Can Now Buy Hedera Hashgraph’s HBAR Token via Simplex
Equities:
• The Nikkei 225 in Asia ended the day in the red 0.16% after a four-day weekend,dragged lower by anxiety in U.S.-China relations.
• The FTSE 100 in Europe slipped 0.31% Mondayas travel stocks took a beating on fresh quarantine rules in Spain.
• The U.S. S&P 500 index gained 0.60%,with positive sentiment supported by the U.S. government's $472 million allocation to coronavirus vaccine research.
Read More:Silvergate’s Bitcoin-Backed Lending Product Grew 80% in the Last Quarter
Commodities:
• Gold is up 2% at $1,938.40 as of press time. The yellow metal’s price hit an all-time high of $1,945.72 Monday. Its previous high of $1,921.18 occurred in 2011.
• Oil is up 0.86%. Price per barrel of West Texas Intermediate crude: $41.60
Read More:85% of Italian Banks Are Exchanging Interbank Transfer Data on Corda
Treasurys:
• U.S. Treasury bonds were mixed Monday. Yields, which move in the opposite direction as price, were up most on the 10-year, in the green 3.2%.
• Market Wrap: Bitcoin Blasts Past $10,000; Ethereum Fees Up 550% in 2020
• Market Wrap: Bitcoin Blasts Past $10,000; Ethereum Fees Up 550% in 2020 || SPACs 101: A Bubble, the Future or Both?: A primer on, and critical look at, one of Wall Street’s hottest trends: special purpose acquisition companies.
Formore episodesand free early access before our regular 3 p.m. Eastern time releases, subscribe withApple Podcasts,Spotify,Pocketcasts,Google Podcasts,Castbox,Stitcher,RadioPublica,iHeartRadioorRSS.
This episode is sponsored byBitstampandCrypto.com.
Related:Crypto News Roundup for July 27, 2020
Special purpose acquisition companies have been around since the 1990s, but have seen a significant uptick in popularity in recent years. Companies like Virgin Galactic, Draft Kings and Nikola have changed SPAC’s reputation from a tool for second- and third-tier private equity shops to win fees to a legitimate alternative to initial public offerings. In 2020, SPACs have made up roughly 40% of the IPO market.
See also:The Real Story Behind Tesla’s Crazy Rally
Recently, chatter around SPACs reached a fever pitch with the listing of Bill Ackman’s Pershing Square Tontine Holdings – the largest-ever SPAC.
• What a SPAC is
• Standard SPAC terms
• Why the traditional IPO process has generated growing discontent, especially from Silicon Valley
• The benefits of SPACs for companies and investors
• The downsides of SPACs for companies and investors
• A number of reasons explaining why SPAC popularity is surging now
• How Robinhood retail traders are creating an important bridge buyer for SPACs
• Why Ackman’s Tontine Holdings SPAC could change how we think about SPACs in the future
• Are SPACs a bubble?
Cited resources:SPAC Man Begins – Alex DancoSPACs as a Call Option on Hype – Bryne HobartSPACs: the most ludicrous bubble we’ll ever see… why not $IAC? – Yet Another Value BlogReturn of the SPAC – John Street Capital
Related:The Future for Unregulated Bitcoin Exchanges
Formore episodesand free early access before our regular 3 p.m. Eastern time releases, subscribe withApple Podcasts,Spotify,Pocketcasts,Google Podcasts,Castbox,Stitcher,RadioPublica,iHeartRadioorRSS.
• SPACs 101: A Bubble, the Future or Both?
• SPACs 101: A Bubble, the Future or Both? || SPACs 101: A Bubble, the Future or Both?: A primer on, and critical look at, one of Wall Street’s hottest trends: special purpose acquisition companies. For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe with Apple Podcasts , Spotify , Pocketcasts , Google Podcasts , Castbox , Stitcher , RadioPublica , iHeartRadio or RSS . This episode is sponsored by Bitstamp and Crypto.com . Related: Crypto News Roundup for July 27, 2020 Special purpose acquisition companies have been around since the 1990s, but have seen a significant uptick in popularity in recent years. Companies like Virgin Galactic, Draft Kings and Nikola have changed SPAC’s reputation from a tool for second- and third-tier private equity shops to win fees to a legitimate alternative to initial public offerings. In 2020, SPACs have made up roughly 40% of the IPO market. See also: The Real Story Behind Tesla’s Crazy Rally Recently, chatter around SPACs reached a fever pitch with the listing of Bill Ackman’s Pershing Square Tontine Holdings – the largest-ever SPAC. In this episode, NLW breaks down: What a SPAC is Standard SPAC terms Why the traditional IPO process has generated growing discontent, especially from Silicon Valley The benefits of SPACs for companies and investors The downsides of SPACs for companies and investors A number of reasons explaining why SPAC popularity is surging now How Robinhood retail traders are creating an important bridge buyer for SPACs Why Ackman’s Tontine Holdings SPAC could change how we think about SPACs in the future Are SPACs a bubble? Cited resources: SPAC Man Begins – Alex Danco SPACs as a Call Option on Hype – Bryne Hobart SPACs: the most ludicrous bubble we’ll ever see… why not $IAC? – Yet Another Value Blog Return of the SPAC – John Street Capital Related: The Future for Unregulated Bitcoin Exchanges For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe with Apple Podcasts , Spotify , Pocketcasts , Google Podcasts , Castbox , Stitcher , RadioPublica , iHeartRadio or RSS . Related Stories SPACs 101: A Bubble, the Future or Both? SPACs 101: A Bubble, the Future or Both? || Bitfinex hackers move more than $27 million tied to 2016 attack: Whale Alert, a Twitter-based tracker of large cryptocurrency transactions, reported nine transfers of funds tied to the 2016 hack of cryptocurrency exchange Bitfinex.
Bitfinex was hacked in August 2016, and the security breach resulted in the theft of almost 120,000 BTC — an amount valued at $72 million at then-current prices. The exchange later moved tosocialize that lossamong its user base and create a token to as a means to reimburse those affected. Bitfinexbought back the lastof the so-called BFX tokens in April 2017.
Since the hack, blockchain sleuths have tracked the movement of the stolen coins. On Monday, four Whale Alert pings were posted at 12:41 p.m. ET after a combined 531.93 BTC (approximately $5.76 million) was transferred.
Over an hour later, at 1:49 p.m. ET, Whale Alert posted five more alerts for transactions totaling 2018.69 BTC (approximately $21.98 million).
As reported by Whale Alert, two fund transfers totaling nearly $5 million in BTC at then-current prices were moved on June 24.
June 10 saw a total of 20 transactions take place, in amounts ranging from about $149,000 to more than $300,000.
© 2020 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice. || Bitcoin Rides to Year High on Back of Gold Rally, Dollar Slump: (Bloomberg) -- Bitcoin surged to the highest in almost a year as the slump in the dollar and rally in gold bolstered the notion that cryptocurrencies will emerge as a viable alternative to traditional monetary systems. The largest digital token climbed as much as 15% to $10,944, the highest price since August. The rally accelerated after the coin breached $10,500, a level that it had failed to sustain gains after surpassing in June and February. Bitcoin, which crypto fans have often touted as digital gold, is in favor as the yellow metal hits record levels, concerns rise about the health of the world economy and the dollar falls. Advocates tout cryptocurrencies as a way to protect wealth from government action such as stimulus measures, which are often viewed in inflationary. Its attracting the momentum players, said Matt Maley, chief market strategist at Miller Tabak + Co. And of course, the momentum players play such a big role nowadays that its giving Bitcoin the big move. Also, last week, the U.S. Office of the Comptroller of the Currency said American banks can provide custody services for customers crypto assets, which could help boost the asset classs appeal with some investors. The cryptocurrency had been hovering near its 50-day moving average for weeks before pulling above it in the past couple of days. Bitcoin has enjoyed above-average flows this year, and those flows are relatively high versus their five-year average when compared with those of exchange traded funds in other asset classes, according to a report from JPMorgan Chase & Co. strategist John Normand on Friday. For more articles like this, please visit us at bloomberg.com Subscribe now to stay ahead with the most trusted business news source. ©2020 Bloomberg L.P. View comments || Bitcoin Rides to Year High on Back of Gold Rally, Dollar Slump: (Bloomberg) -- Bitcoin surged to the highest in almost a year as the slump in the dollar and rally in gold bolstered the notion that cryptocurrencies will emerge as a viable alternative to traditional monetary systems.
The largest digital token climbed as much as 15% to $10,944, the highest price since August. The rally accelerated after the coin breached $10,500, a level that it had failed to sustain gains after surpassing in June and February.
Bitcoin, which crypto fans have often touted as “digital gold,” is in favor as the yellow metal hits record levels, concerns rise about the health of the world economy and the dollar falls. Advocates tout cryptocurrencies as a way to protect wealth from government action such as stimulus measures, which are often viewed in inflationary.
“It’s attracting the momentum players,” said Matt Maley, chief market strategist at Miller Tabak + Co. “And of course, the momentum players play such a big role nowadays that it’s giving Bitcoin the big move.”
Also, last week, the U.S. Office of the Comptroller of the Currency said American banks can provide custody services for customers’ crypto assets, which could help boost the asset class’s appeal with some investors.
The cryptocurrency had been hovering near its 50-day moving average for weeks before pulling above it in the past couple of days.
Bitcoin has enjoyed above-average flows this year, and those flows are relatively high versus their five-year average when compared with those of exchange traded funds in other asset classes, according to a report from JPMorgan Chase & Co. strategist John Normand on Friday.
For more articles like this, please visit us atbloomberg.com
Subscribe nowto stay ahead with the most trusted business news source.
©2020 Bloomberg L.P. || Bitcoin Rides to Year High on Back of Gold Rally, Dollar Slump: (Bloomberg) -- Bitcoin surged to the highest in almost a year as the slump in the dollar and rally in gold bolstered the notion that cryptocurrencies will emerge as a viable alternative to traditional monetary systems.
The largest digital token climbed as much as 15% to $10,944, the highest price since August. The rally accelerated after the coin breached $10,500, a level that it had failed to sustain gains after surpassing in June and February.
Bitcoin, which crypto fans have often touted as “digital gold,” is in favor as the yellow metal hits record levels, concerns rise about the health of the world economy and the dollar falls. Advocates tout cryptocurrencies as a way to protect wealth from government action such as stimulus measures, which are often viewed in inflationary.
“It’s attracting the momentum players,” said Matt Maley, chief market strategist at Miller Tabak + Co. “And of course, the momentum players play such a big role nowadays that it’s giving Bitcoin the big move.”
Also, last week, the U.S. Office of the Comptroller of the Currency said American banks can provide custody services for customers’ crypto assets, which could help boost the asset class’s appeal with some investors.
The cryptocurrency had been hovering near its 50-day moving average for weeks before pulling above it in the past couple of days.
Bitcoin has enjoyed above-average flows this year, and those flows are relatively high versus their five-year average when compared with those of exchange traded funds in other asset classes, according to a report from JPMorgan Chase & Co. strategist John Normand on Friday.
For more articles like this, please visit us atbloomberg.com
Subscribe nowto stay ahead with the most trusted business news source.
©2020 Bloomberg L.P.
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11100.47, 11111.21, 11323.47, 11759.59, 11053.61, 11246.35, 11205.89, 11747.02, 11779.77, 11601.47
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Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 283.68, 285.30, 293.79, 304.62, 313.86, 328.02, 314.17, 325.43, 361.19, 403.42, 411.56, 386.35, 374.47, 386.48, 373.37, 380.26, 336.82, 311.08, 338.15, 336.75, 332.91, 320.17, 330.75, 335.09, 334.59, 326.15, 322.02, 326.93, 324.54, 323.05, 320.05, 328.21, 352.68, 358.04, 357.38, 371.29, 377.32, 362.49, 359.19, 361.05, 363.18, 388.95, 388.78, 395.54, 415.56, 417.56, 415.48, 451.94, 435.00, 433.76, 444.18, 465.32, 454.93, 456.08, 463.62, 462.32, 442.68, 438.64, 436.57, 442.40, 454.98, 455.65, 417.27, 422.82, 422.28, 432.98, 426.62, 430.57, 434.33, 433.44, 430.01, 433.09, 431.96, 429.11, 458.05, 453.23, 447.61, 447.99, 448.43, 435.69, 432.37, 430.31, 364.33, 387.54, 382.30, 387.17, 380.15, 420.23, 410.26, 382.49.
|
[Bitcoin Technical Analysis for 2016-01-22]
Volume: 91546600, RSI (14-day): 40.92, 50-day EMA: 409.01, 200-day EMA: 338.58
[Wider Market Context]
Gold Price: 1097.20, Gold RSI: 54.73
Oil Price: 32.19, Oil RSI: 45.75
[Recent News (last 7 days)]
Cybersecurity A Hot Topic At Davos: Cybersecurity has been a hot-button issue in both the public and private sectors over the past year after a spate of hacking attacks left several companies in jeopardy and illustrated that the U.S. government is struggling to keep pace with hackers. With concerns about cyber-terrorism ramping up in the wake of several terror strikes around the world, the Word Economic Forum in Davos, Switzerland, has become a battle ground for world leaders and tech firms to discuss how to protect each nation's security without compromising customers' privacy, according to the Wall Street Journal. Data Tug Of War Government officials are pushing tech firms like Facebook Inc (NASDAQ: FB ) and Twitter Inc (NYSE: TWTR ) to make their data more accessible in order to give law enforcement better surveillance options. Related Link: Bitcoin Makes An Appearance At Davos They argue current encryption processes make it impossible for the firms to give officials access to communications that could be essential in preventing further terror attacks. However, tech firms say that making data more accessible would land them in a difficult position, as it makes customer data more accessible to everyone, not just law enforcement. Brad Smith, Microsoft Corporation (NASDAQ: MSFT )'s chief legal officer said that loosening encryption could violate customer privacy laws in the United States, causing tech firms to choose which laws they want to break in order to comply with government requests. Making Customers Happy Companies like Alphabet Inc (NASDAQ: GOOG ) (NASDAQ: GOOGL ) and Apple Inc. (NASDAQ: AAPL ) have ramped up their privacy protection in the years since U.S. contractor Edward Snowden leaked documents detailing the Untied States' widespread surveillance practices. Since that time, many consumers have become much more conscious about their privacy protection, and companies like Google and Apple have responded by using encryption that even they don't have the keys to. Story continues Image Credit: Public Domain See more from Benzinga Apple Moves Into India Twitter Begins The Year On A Low Are Share Repurchases On The Horizon? © 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Cybersecurity A Hot Topic At Davos: Cybersecurity has been a hot-button issue in both the public and private sectors over the past year after a spate of hacking attacks left several companies in jeopardy and illustrated that the U.S. government is struggling to keep pace with hackers.
With concerns about cyber-terrorism ramping up in the wake of several terror strikes around the world, the Word Economic Forum in Davos, Switzerland, has become abattle groundfor world leaders and tech firms to discuss how to protect each nation's security without compromising customers' privacy, according to the Wall Street Journal.
Data Tug Of War
Government officials are pushing tech firms likeFacebook Inc(NASDAQ:FB) andTwitter Inc(NYSE:TWTR) to make their data more accessible in order to give law enforcement better surveillance options.
Related Link:Bitcoin Makes An Appearance At Davos
They argue current encryption processes make it impossible for the firms to give officials access to communications that could be essential in preventing further terror attacks.
However, tech firms say that making data more accessible would land them in a difficult position, as it makes customer data more accessible to everyone, not just law enforcement. Brad Smith,Microsoft Corporation(NASDAQ:MSFT)'s chief legal officer said that loosening encryption could violate customer privacy laws in the United States, causing tech firms to choose which laws they want to break in order to comply with government requests.
Making Customers Happy
Companies likeAlphabet Inc(NASDAQ:GOOG) (NASDAQ:GOOGL) andApple Inc.(NASDAQ:AAPL) have ramped up their privacy protection in the years since U.S. contractor Edward Snowden leaked documents detailing the Untied States' widespread surveillance practices. Since that time, many consumers have become much more conscious about their privacy protection, and companies like Google and Apple have responded by using encryption that even they don't have the keys to.
Image Credit:Public Domain
See more from Benzinga
• Apple Moves Into India
• Twitter Begins The Year On A Low
• Are Share Repurchases On The Horizon?
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Blockchain Moves Forward In The Financial Industry: Cryptocurrencies like bitcoin have had a lot of negative attention over the past year, as several hacking attacks and scams have painted the coins as an unsafe way to make transactions. However, blockchain, the ledger-like system that bitcoin runs on, has received a great deal of praise across several industries that say the technology has the potential to completely reform the way they do business. This is especially true in the financial space, where banks say that although they are still wary of bitcoin transactions, incorporating blockchain into their operations could actually improve their businesses. Related Link: Now You Can Play The Lottery With Bitcoin Cross-Border Payments One way blockchain could improve the financial industry is by improving the way banks make cross-border transactions. The current system is cumbersome and takes a great deal of time and effort for both the sending and receiving bank. This process has made it difficult for banks to interact with one another from country to country, but incorporating blockchain could change all of that. The ledger system would streamline cross-border payments and take out much of the administrative work associated with processing international transactions. Closer To Integration From January 11 to January 15, several major banks began testing whether blockchain could be used in this way and the results looked promising, according to the Wall Street Journal. Eleven different banks were able to use a private blockchain in order to exchange tokens across several continents. The test included big name financial institutions like Barclays PLC (ADR) (NYSE: BCS ), Credit Suisse Group AG (ADR) (NYSE: CS ) and Wells Fargo & Co (NYSE: WFC ), and it is expected to pave the way for future blockchain investments. While this initial test provided only a small snapshot of what blockchain is capable of, many believe that its success will push banks to continue testing the technology and eventually put it into practice. Story continues See more from Benzinga Top 5 Losers When The Fed Raises Rates © 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Blockchain Moves Forward In The Financial Industry: Cryptocurrencies like bitcoin have had a lot of negative attention over the past year, as several hacking attacks and scams have painted the coins as an unsafe way to make transactions.
However, blockchain, the ledger-like system that bitcoin runs on, has received a great deal of praise across several industries that say the technology has the potential to completely reform the way they do business. This is especially true in the financial space, where banks say that although they are still wary of bitcoin transactions, incorporating blockchain into their operations could actually improve their businesses.
Related Link:Now You Can Play The Lottery With Bitcoin
Cross-Border Payments
One way blockchain could improve the financial industry is by improving the way banks make cross-border transactions.
The current system is cumbersome and takes a great deal of time and effort for both the sending and receiving bank. This process has made it difficult for banks to interact with one another from country to country, but incorporating blockchain could change all of that. The ledger system would streamline cross-border payments and take out much of the administrative work associated with processing international transactions.
Closer To Integration
From January 11 to January 15, several major banks begantestingwhether blockchain could be used in this way and the results looked promising, according to the Wall Street Journal.
Eleven different banks were able to use a private blockchain in order to exchange tokens across several continents. The test included big name financial institutions likeBarclays PLC (ADR)(NYSE:BCS),Credit Suisse Group AG (ADR)(NYSE:CS) andWells Fargo & Co(NYSE:WFC), and it is expected to pave the way for future blockchain investments. While this initial test provided only a small snapshot of what blockchain is capable of, many believe that its success will push banks to continue testing the technology and eventually put it into practice.
See more from Benzinga
• Top 5 Losers When The Fed Raises Rates
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Bitcoin's biggest investor bought its leading news outlet: There is one trade publication in the digital currency industry that every mainstream news outlet knows well, and cites regularly in stories about bitcoin:CoinDesk. It is a source of news about bitcoin investments, price spikes or crashes, and executive hires, and it is a regular destination for journalists who write about bitcoin (as well as for bitcoin enthusiasts who don't get paid to write about the currency).
Last week, CoinDesk reported some newsabout itself. The website has been bought by Digital Currency Group, the investment firm of Barry Silbert, who in 2004 founded SecondMarket, which allows for the trading of private-company stock. He sold the platform to Nasdaq (NDAQ) last year. This is DCG's first full acquisition; it did not disclose the sale price, but sources tell Yahoo Finance it was around $750,000.
DCG has invested in 60 different digital currency companies, and the companies in its portfolio have raised 70% of the venture capital in the industry. You might think that creates an obvious conflict of interest here. Silbert owning CoinDesk is like Red Sox co-owner John Henry buying the Boston Globe (which actually happened), or Peyton Manning buying the Denver Post, or Donald Trump buying Politico.
But Ryan Selkis, the DCG executive who will oversee business at CoinDesk for the time being, insists that won't be a problem. Nonetheless, he says the possibility did concern him at first.
The subject of changing ownership at a bitcoin news site may seem like granular inside-baseball, but it is significant when viewed in the context of ongoing fears about who owns the media. From NewsCorp to Bloomberg to recent changes at the Las Vegas Review-Journal, it is a topic on the minds of both journalists and their readers.
Is bitcoin's primary news site selling to bitcoin's biggest investment firm another piece of bad news for the industry? Selkis, DCG's director of growth, spoke to Yahoo Finance about that question and about DCG's plans for the site. What follows is an edited transcript.
Yahoo Finance:Before we get into CoinDesk, what was your take on the fallout from Mike Hearn's post last week? [Hearn, a bitcoin developer,declaredthat bitcoin had "failed" and that he was leaving the industry; it resulted in a media firestorm.]
Ryan Selkis:I won’t comment on the theatrics of it. I will say that Mike Hearn was one of the really solid developers, he’s contributed a good chunk of his life and energy into making bitcoin what it is today, so, style aside, there’s not a whole lot people can say to critique his overall contribution to the industry. But this [ongoing debateover the size of blocks, or bundles of transactions, recorded on bitcoin's public ledger] is more of a governance issue than it is a bitcoin issue, in terms of how this will get resolved. I think it will get resolved. But the governance of the overall project needs to be better.
What was DCG's approach to buying CoinDesk, what were the considerations?
The first priority we had when we considered this acquistion, my main hesitation, was whether we’d be able to preserve CoinDesk’s editorial independence. And it’s why I’m working with the team full-time now on operating activities. We are going to create both informational and physical barriers between the editorial team and Digital Currency Group. From a policy standpoint, I’ve recused myself from all investing activity at DCG. I was its director of investments; I have completely transitioned away from that and now I’m director of growth.
How does handling growth for DCG pertain to CoinDesk?
In this particular instance it means making sure we have a smooth transition post-acquisition. We’re combining two teams. We’ve kept all the CoinDesk employees and our plan is to continue to employ everyone that came over, hopefully for a long time. But we also have a professional events team we’ve been working with that were already in the midst of planning a large conference in May, and now we’re merging those two teams to plan one event, Consensus 2016. So now everyone, with the exception of myself, is a CoinDesk employee. And functionally, I’m full time with the CoinDesk team.
So how are you separating CoinDesk from DCG?
We are physically relocating offices to a different part of Manhattan. So the CoinDesk folks are not going to be sitting right next to our Genesis [a broker dealer that is another DCG subsidiary] trading team or our investment team, which has proprietary information on how 60 or so bitcoin companies that we are invested in are performing.
What if CoinDesk is now afraid to write bad news about companies DCG is invested in? Or it could go the other way: Will CoinDesk start getting all the scoops on DCG companies?
On the latter point, I’m not concerned because even before this, CoinDesk had established itself as a clear industry leader in terms of a trade journal. So they were already getting most of the scoops. When you talk about embargoed news releases, they are going to continue to be on the same lists as the other folks that DCG reaches out to. So that doesn’t really change. To be honest, CoinDesk was typically part of a broad group of outlets that would be contacted whenever there was news about a DCG company, because we never want to restrict press attention to just one outlet for any of its business interests. So that is the much easier question to answer.
With respect to editorial conflicts, look, that’s what I’m here for, is to make sure there’s a buffer between both entities. So on the one hand, I’m not influencing CoinDesk editorial, but on the other hand, I’m leading the team on a day-to-day basis, and I’m able to interface with DCG but I’m no longer privy to any inside-baseball related to the portfolio companies.
That seems like a contradiction: You won't influence CoinDesk editorial, but you'll lead CoinDesk day to day? So will you be full time at CoinDesk, or at DCG?
I’m DCG's director of growth, but I'm focused full time on CoinDesk and this acquisition, and the 10 or so employees we’ve absorbed, and the large-scale conference we’re producing in May. That makes CoinDesk our top priortity in terms of growth initiatives.
Is the conference the main reason DCG bought CoinDesk? Why else?
We think there’s a lot of organic growth potential for CoinDesk. They’ve had display advertising and various sponsors, but last year they hosted Consensus 2015, it was profitable, it was well-attended, folks were raving about the content of the event. And in mid-2015 they also began publishing paid research reports. As we continue new investments in CoinDesk, paid research and live events are going to be meaningful drivers of growth for the business.
We have the resources to invest not only in fantastic new editorial talent, as in full-time reporters, but also strengthen the ranks of freelance contributors. One area we will invest in is looking beyond just bitcoin the currency and the very insular community there, and branching much further out into blockchain applications that enterprise is taking a look at. Now, that doesn’t mean we are on this "blockchain, not bitcoin" bandwagon, because I don’t want to give that impression at all and it’s a very shrill conversation that happens on Twitter and Reddit when you bring it up. But I do think there will be private ledger solutions that work for enterprise where bitcoin isn’t necessarily a good alternative.
Yes, big financial institutions and banks, from Nasdaq to JPMorgan, have been on the "blockchain, not bitcoin" trend lately. Do you think that's all talk?
I think the interest is definitely real. The bigger question is, over what time frame does this play out? I don’t think that anyone should expect fully functioning products in the next year, two years, handful of years. It will take many years to build some of these core products that are used currently for clearing and settlement. But I think it’s not just a buzzword, I think "blockchain for banks" truly is more relevant in many cases than using the bitcoin blockchain. If you’re a large institution and you’re looking to create an open ledger where you can move securities around safely and transparently to other regulated institutions, you don’t need a native currency like bitcoin or a consensus mechanism that uses anonymous miners. You already know the parties. You could have five banks that are the only signatories to that particular blockchain. So that would be interesting.
--
Daniel Roberts is a writer at Yahoo Finance, covering sports business and technology.Read more:
Bitcoin industry consolidates: Why Kraken bought Coinsetter
Here's a sign that PayPal is embracing Bitcoin
Fantex, the 'athlete stock exchange,' signs first golfer || Bitcoin's biggest investor bought its leading news outlet: There is one trade publication in the digital currency industry that every mainstream news outlet knows well, and cites regularly in stories about bitcoin:CoinDesk. It is a source of news about bitcoin investments, price spikes or crashes, and executive hires, and it is a regular destination for journalists who write about bitcoin (as well as for bitcoin enthusiasts who don't get paid to write about the currency).
Last week, CoinDesk reported some newsabout itself. The website has been bought by Digital Currency Group, the investment firm of Barry Silbert, who in 2004 founded SecondMarket, which allows for the trading of private-company stock. He sold the platform to Nasdaq (NDAQ) last year. This is DCG's first full acquisition; it did not disclose the sale price, but sources tell Yahoo Finance it was around $750,000.
DCG has invested in 60 different digital currency companies, and the companies in its portfolio have raised 70% of the venture capital in the industry. You might think that creates an obvious conflict of interest here. Silbert owning CoinDesk is like Red Sox co-owner John Henry buying the Boston Globe (which actually happened), or Peyton Manning buying the Denver Post, or Donald Trump buying Politico.
But Ryan Selkis, the DCG executive who will oversee business at CoinDesk for the time being, insists that won't be a problem. Nonetheless, he says the possibility did concern him at first.
The subject of changing ownership at a bitcoin news site may seem like granular inside-baseball, but it is significant when viewed in the context of ongoing fears about who owns the media. From NewsCorp to Bloomberg to recent changes at the Las Vegas Review-Journal, it is a topic on the minds of both journalists and their readers.
Is bitcoin's primary news site selling to bitcoin's biggest investment firm another piece of bad news for the industry? Selkis, DCG's director of growth, spoke to Yahoo Finance about that question and about DCG's plans for the site. What follows is an edited transcript.
Yahoo Finance:Before we get into CoinDesk, what was your take on the fallout from Mike Hearn's post last week? [Hearn, a bitcoin developer,declaredthat bitcoin had "failed" and that he was leaving the industry; it resulted in a media firestorm.]
Ryan Selkis:I won’t comment on the theatrics of it. I will say that Mike Hearn was one of the really solid developers, he’s contributed a good chunk of his life and energy into making bitcoin what it is today, so, style aside, there’s not a whole lot people can say to critique his overall contribution to the industry. But this [ongoing debateover the size of blocks, or bundles of transactions, recorded on bitcoin's public ledger] is more of a governance issue than it is a bitcoin issue, in terms of how this will get resolved. I think it will get resolved. But the governance of the overall project needs to be better.
What was DCG's approach to buying CoinDesk, what were the considerations?
The first priority we had when we considered this acquistion, my main hesitation, was whether we’d be able to preserve CoinDesk’s editorial independence. And it’s why I’m working with the team full-time now on operating activities. We are going to create both informational and physical barriers between the editorial team and Digital Currency Group. From a policy standpoint, I’ve recused myself from all investing activity at DCG. I was its director of investments; I have completely transitioned away from that and now I’m director of growth.
How does handling growth for DCG pertain to CoinDesk?
In this particular instance it means making sure we have a smooth transition post-acquisition. We’re combining two teams. We’ve kept all the CoinDesk employees and our plan is to continue to employ everyone that came over, hopefully for a long time. But we also have a professional events team we’ve been working with that were already in the midst of planning a large conference in May, and now we’re merging those two teams to plan one event, Consensus 2016. So now everyone, with the exception of myself, is a CoinDesk employee. And functionally, I’m full time with the CoinDesk team.
So how are you separating CoinDesk from DCG?
We are physically relocating offices to a different part of Manhattan. So the CoinDesk folks are not going to be sitting right next to our Genesis [a broker dealer that is another DCG subsidiary] trading team or our investment team, which has proprietary information on how 60 or so bitcoin companies that we are invested in are performing.
What if CoinDesk is now afraid to write bad news about companies DCG is invested in? Or it could go the other way: Will CoinDesk start getting all the scoops on DCG companies?
On the latter point, I’m not concerned because even before this, CoinDesk had established itself as a clear industry leader in terms of a trade journal. So they were already getting most of the scoops. When you talk about embargoed news releases, they are going to continue to be on the same lists as the other folks that DCG reaches out to. So that doesn’t really change. To be honest, CoinDesk was typically part of a broad group of outlets that would be contacted whenever there was news about a DCG company, because we never want to restrict press attention to just one outlet for any of its business interests. So that is the much easier question to answer.
With respect to editorial conflicts, look, that’s what I’m here for, is to make sure there’s a buffer between both entities. So on the one hand, I’m not influencing CoinDesk editorial, but on the other hand, I’m leading the team on a day-to-day basis, and I’m able to interface with DCG but I’m no longer privy to any inside-baseball related to the portfolio companies.
That seems like a contradiction: You won't influence CoinDesk editorial, but you'll lead CoinDesk day to day? So will you be full time at CoinDesk, or at DCG?
I’m DCG's director of growth, but I'm focused full time on CoinDesk and this acquisition, and the 10 or so employees we’ve absorbed, and the large-scale conference we’re producing in May. That makes CoinDesk our top priortity in terms of growth initiatives.
Is the conference the main reason DCG bought CoinDesk? Why else?
We think there’s a lot of organic growth potential for CoinDesk. They’ve had display advertising and various sponsors, but last year they hosted Consensus 2015, it was profitable, it was well-attended, folks were raving about the content of the event. And in mid-2015 they also began publishing paid research reports. As we continue new investments in CoinDesk, paid research and live events are going to be meaningful drivers of growth for the business.
We have the resources to invest not only in fantastic new editorial talent, as in full-time reporters, but also strengthen the ranks of freelance contributors. One area we will invest in is looking beyond just bitcoin the currency and the very insular community there, and branching much further out into blockchain applications that enterprise is taking a look at. Now, that doesn’t mean we are on this "blockchain, not bitcoin" bandwagon, because I don’t want to give that impression at all and it’s a very shrill conversation that happens on Twitter and Reddit when you bring it up. But I do think there will be private ledger solutions that work for enterprise where bitcoin isn’t necessarily a good alternative.
Yes, big financial institutions and banks, from Nasdaq to JPMorgan, have been on the "blockchain, not bitcoin" trend lately. Do you think that's all talk?
I think the interest is definitely real. The bigger question is, over what time frame does this play out? I don’t think that anyone should expect fully functioning products in the next year, two years, handful of years. It will take many years to build some of these core products that are used currently for clearing and settlement. But I think it’s not just a buzzword, I think "blockchain for banks" truly is more relevant in many cases than using the bitcoin blockchain. If you’re a large institution and you’re looking to create an open ledger where you can move securities around safely and transparently to other regulated institutions, you don’t need a native currency like bitcoin or a consensus mechanism that uses anonymous miners. You already know the parties. You could have five banks that are the only signatories to that particular blockchain. So that would be interesting.
--
Daniel Roberts is a writer at Yahoo Finance, covering sports business and technology.Read more:
Bitcoin industry consolidates: Why Kraken bought Coinsetter
Here's a sign that PayPal is embracing Bitcoin
Fantex, the 'athlete stock exchange,' signs first golfer || Bitcoin's biggest investor bought its leading news outlet: There is one trade publication in the digital currency industry that every mainstream news outlet knows well, and cites regularly in stories about bitcoin: CoinDesk . It is a source of news about bitcoin investments, price spikes or crashes, and executive hires, and it is a regular destination for journalists who write about bitcoin (as well as for bitcoin enthusiasts who don't get paid to write about the currency). Last week, CoinDesk reported some news about itself . The website has been bought by Digital Currency Group, the investment firm of Barry Silbert, who in 2004 founded SecondMarket, which allows for the trading of private-company stock. He sold the platform to Nasdaq ( NDAQ ) last year. This is DCG's first full acquisition; it did not disclose the sale price, but sources tell Yahoo Finance it was around $750,000. DCG has invested in 60 different digital currency companies, and the companies in its portfolio have raised 70% of the venture capital in the industry . You might think that creates an obvious conflict of interest here. Silbert owning CoinDesk is like Red Sox co-owner John Henry buying the Boston Globe (which actually happened), or Peyton Manning buying the Denver Post, or Donald Trump buying Politico. But Ryan Selkis, the DCG executive who will oversee business at CoinDesk for the time being, insists that won't be a problem. Nonetheless, he says the possibility did concern him at first. The subject of changing ownership at a bitcoin news site may seem like granular inside-baseball, but it is significant when viewed in the context of ongoing fears about who owns the media. From NewsCorp to Bloomberg to recent changes at the Las Vegas Review-Journal, it is a topic on the minds of both journalists and their readers. Is bitcoin's primary news site selling to bitcoin's biggest investment firm another piece of bad news for the industry? Selkis, DCG's director of growth, spoke to Yahoo Finance about that question and about DCG's plans for the site. What follows is an edited transcript. Yahoo Finance : Before we get into CoinDesk, what was your take on the fallout from Mike Hearn's post last week? [Hearn, a bitcoin developer, declared that bitcoin had "failed" and that he was leaving the industry; it resulted in a media firestorm.] Ryan Selkis: I won’t comment on the theatrics of it. I will say that Mike Hearn was one of the really solid developers, he’s contributed a good chunk of his life and energy into making bitcoin what it is today, so, style aside, there’s not a whole lot people can say to critique his overall contribution to the industry. But this [ ongoing debate over the size of blocks, or bundles of transactions, recorded on bitcoin's public ledger] is more of a governance issue than it is a bitcoin issue, in terms of how this will get resolved. I think it will get resolved. But the governance of the overall project needs to be better. Story continues What was DCG's approach to buying CoinDesk, what were the considerations? The first priority we had when we considered this acquistion, my main hesitation, was whether we’d be able to preserve CoinDesk’s editorial independence. And it’s why I’m working with the team full-time now on operating activities. We are going to create both informational and physical barriers between the editorial team and Digital Currency Group. From a policy standpoint, I’ve recused myself from all investing activity at DCG. I was its director of investments; I have completely transitioned away from that and now I’m director of growth. How does handling growth for DCG pertain to CoinDesk? In this particular instance it means making sure we have a smooth transition post-acquisition. We’re combining two teams. We’ve kept all the CoinDesk employees and our plan is to continue to employ everyone that came over, hopefully for a long time. But we also have a professional events team we’ve been working with that were already in the midst of planning a large conference in May, and now we’re merging those two teams to plan one event, Consensus 2016. So now everyone, with the exception of myself, is a CoinDesk employee. And functionally, I’m full time with the CoinDesk team. So how are you separating CoinDesk from DCG? We are physically relocating offices to a different part of Manhattan. So the CoinDesk folks are not going to be sitting right next to our Genesis [a broker dealer that is another DCG subsidiary] trading team or our investment team, which has proprietary information on how 60 or so bitcoin companies that we are invested in are performing. What if CoinDesk is now afraid to write bad news about companies DCG is invested in? Or it could go the other way: Will CoinDesk start getting all the scoops on DCG companies? On the latter point, I’m not concerned because even before this, CoinDesk had established itself as a clear industry leader in terms of a trade journal. So they were already getting most of the scoops. When you talk about embargoed news releases, they are going to continue to be on the same lists as the other folks that DCG reaches out to. So that doesn’t really change. To be honest, CoinDesk was typically part of a broad group of outlets that would be contacted whenever there was news about a DCG company, because we never want to restrict press attention to just one outlet for any of its business interests. So that is the much easier question to answer. With respect to editorial conflicts, look, that’s what I’m here for, is to make sure there’s a buffer between both entities. So on the one hand, I’m not influencing CoinDesk editorial, but on the other hand, I’m leading the team on a day-to-day basis, and I’m able to interface with DCG but I’m no longer privy to any inside-baseball related to the portfolio companies. That seems like a contradiction: You won't influence CoinDesk editorial, but you'll lead CoinDesk day to day? So will you be full time at CoinDesk, or at DCG? I’m DCG's director of growth, but I'm focused full time on CoinDesk and this acquisition, and the 10 or so employees we’ve absorbed, and the large-scale conference we’re producing in May. That makes CoinDesk our top priortity in terms of growth initiatives. Is the conference the main reason DCG bought CoinDesk? Why else? We think there’s a lot of organic growth potential for CoinDesk. They’ve had display advertising and various sponsors, but last year they hosted Consensus 2015, it was profitable, it was well-attended, folks were raving about the content of the event. And in mid-2015 they also began publishing paid research reports. As we continue new investments in CoinDesk, paid research and live events are going to be meaningful drivers of growth for the business. We have the resources to invest not only in fantastic new editorial talent, as in full-time reporters, but also strengthen the ranks of freelance contributors. One area we will invest in is looking beyond just bitcoin the currency and the very insular community there, and branching much further out into blockchain applications that enterprise is taking a look at. Now, that doesn’t mean we are on this "blockchain, not bitcoin" bandwagon, because I don’t want to give that impression at all and it’s a very shrill conversation that happens on Twitter and Reddit when you bring it up. But I do think there will be private ledger solutions that work for enterprise where bitcoin isn’t necessarily a good alternative. Yes, big financial institutions and banks, from Nasdaq to JPMorgan, have been on the "blockchain, not bitcoin" trend lately. Do you think that's all talk? I think the interest is definitely real. The bigger question is, over what time frame does this play out? I don’t think that anyone should expect fully functioning products in the next year, two years, handful of years. It will take many years to build some of these core products that are used currently for clearing and settlement. But I think it’s not just a buzzword, I think "blockchain for banks" truly is more relevant in many cases than using the bitcoin blockchain. If you’re a large institution and you’re looking to create an open ledger where you can move securities around safely and transparently to other regulated institutions, you don’t need a native currency like bitcoin or a consensus mechanism that uses anonymous miners. You already know the parties. You could have five banks that are the only signatories to that particular blockchain. So that would be interesting. -- Daniel Roberts is a writer at Yahoo Finance, covering sports business and technology. Read more: Bitcoin industry consolidates: Why Kraken bought Coinsetter Here's a sign that PayPal is embracing Bitcoin Fantex, the 'athlete stock exchange,' signs first golfer View comments || Your first trade for Wednesday: The "Fast Money" traders delivered their final trades of the day.
Tim Seymour was a seller of the iShares 20+ Year Treasury Bond ETF(NYSE Arca: TLT)while Brian Kelly was a buyer.
Dan Nathan was a buyer of Twitter(TWTR).
Peter Najarian was bullish on Viacom(VIAB), a name he highlighted as a stock which could soon be aligned for stratospheric returns.
Trader disclosure: On January 19, 2016, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders:Tim Seymour is long AAPL, BAC, CLF, DIS, F, FCX, GE, GM, GOOGL, INTC, IWM, JCP, JPM, KO, LGF, RL, T, TWTR. Tim's firm is long BABA, BIDU, MCD, NKE, SBUX, YHOO. Pete Najarian is long AAPL, BAC, BKE, BMY, BP, DIS, DISCA, FOXA, GE, KO, MRK, PEP, PFE, he is long calls AAL, BAC, BX, CHS, GE, GDX, HAIN, LC, MSFT, NRF, WMB, WYNN, XBI, YDKN, he is long puts FCX, MRO. Dan Nathan is long WMT Feb Put Spread, long PFE buy-write, long VZ Buy-write, long XLU Feb Call Spread, long QCOM Feb Calls, long UUP, long TWTR, long TLT Apr risk reversal; he is short SPY. Brian Kelly is long BBRY, Bitcoin, GDX, GLD, SLV, TLT, US Dollar; he is short Aussie Dollar, British Pound, CS, DB, EWH, HSBC, SPY, Yuan.
SunTrust Managing Director Robert Peck: Firm makes a market in Netflix.
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• Personal Finance || Your first trade for Wednesday: The " Fast Money " traders delivered their final trades of the day. Tim Seymour was a seller of the iShares 20+ Year Treasury Bond ETF (NYSE Arca: TLT) while Brian Kelly was a buyer. Dan Nathan was a buyer of Twitter ( TWTR ) . Peter Najarian was bullish on Viacom ( VIAB ) , a name he highlighted as a stock which could soon be aligned for stratospheric returns. Trader disclosure: On January 19, 2016, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Tim Seymour is long AAPL, BAC, CLF, DIS, F, FCX, GE, GM, GOOGL, INTC, IWM, JCP, JPM, KO, LGF, RL, T, TWTR. Tim's firm is long BABA, BIDU, MCD, NKE, SBUX, YHOO. Pete Najarian is long AAPL, BAC, BKE, BMY, BP, DIS, DISCA, FOXA, GE, KO, MRK, PEP, PFE, he is long calls AAL, BAC, BX, CHS, GE, GDX, HAIN, LC, MSFT, NRF, WMB, WYNN, XBI, YDKN, he is long puts FCX, MRO. Dan Nathan is long WMT Feb Put Spread, long PFE buy-write, long VZ Buy-write, long XLU Feb Call Spread, long QCOM Feb Calls, long UUP, long TWTR, long TLT Apr risk reversal; he is short SPY. Brian Kelly is long BBRY, Bitcoin, GDX, GLD, SLV, TLT, US Dollar; he is short Aussie Dollar, British Pound, CS, DB, EWH, HSBC, SPY, Yuan. SunTrust Managing Director Robert Peck: Firm makes a market in Netflix. More From CNBC Top News and Analysis Latest News Video Personal Finance || Celltick Partners With Cable & Wireless to Bring Startscreen to Android Devices: MIAMI, FL and SAN FRANCISCO, CA--(Marketwired - Jan 19, 2016) -Celltick, a global leader in mobile marketing announces a partnership with leading Caribbean and Latin American network provider,Cable & Wireless Communications(C&W) (LSE:CWC). C&W will provide a branded, localized and customized version of Celltick's Start on its android phones across its Caribbean and Latin American markets.
Start provides users with an intelligent next-generation startscreen giving users what they want most when they wake up their phones. The Start platform learns from the way users operate their phone and provides convenient productive ways to enhance the intelligence of the device. C&W users will get a new startscreen on their android devices under the C&W brands -- Flow, LIME, Mas Movil and BTC. Users will be able to better utilize their phones and personalize their devices with stickers, interactive themes as well as play games on their first screen.
"Through this partnership, our customers will now have the benefit of a much more personalized, interactive start screen on their mobile device that meets their specific individual needs," said John Reid, President of C&W's Consumer Group. C&W will provide users with local 'infotainments' such as news and weather, rapid access to social media feeds, web search, latest videos and more on the startscreen. "This underscores our ongoing commitment to continuously innovate and transform the total telecommunications experience across the region," added Reid.
"We're excited to partner with Cable & Wireless across its 14 mobile markets to provide an enhanced user experience for their subscribers," said Fernando Bortman, GM CALA, Celltick. "The selection of Start by C&W highlights the innovative approach that we have taken in delighting consumers and the excellence of the product."
Start's growing ecosystem includes hundreds of themes, plug-ins, stickers and lockgames. Celltick's Start has been adopted by over 40 large operators, OEMs and media companies who distribute over 100M devices around the globe. In 2014, Celltick powered billions of mobile-initiated commerce transactions for virtual and physical goods serving more than 150 million active consumers across 25 countries.
About Cable & Wireless Communications
Cable & Wireless Communications Plc (CWC) is a full service communications and entertainment provider, operating in the Caribbean and Latin America. With annual sales of over $2.4bn, it operates both mobile and fixed networks, supported by submarine and terrestrial optical fibre backhaul capacity. Through the acquisition of Columbus International Inc. on 31 March 2015, CWC now delivers superior high-speed mobile data, broadband and video services. It has leading market positions in Mobile, Fixed Line, Broadband and Video consumer offers.
Through its business division, CWC provides data centre hosting, domestic and international managed network services, and customised IT service solutions, utilising cloud technology to serve business and government customers.
The company also operates a state-of-the-art subsea fibre optic cable network that spans more than 42,000 km -- the most extensive in the region -- as well as 38,000 km of terrestrial fibre providing wholesale and carrier backhaul capacity.
CWC has more than 7,200 employees serving over 6.3 million customers (Mobile 4.1m; Fixed Line 1.1m; Video 465k and Broadband 680k) as well as over 125k corporate clients across 42 countries. The Company's leading brands include; LIME and Flow in the Caribbean; BTC in The Bahamas; Mas Movil in Panama; C&W Business and C&W Networks. CWC is the market leader in most products offered and territories served. It is a major contributor to local communities through its corporate social responsibility programmes.
Cable & Wireless Communications' shares are quoted on the London Stock Exchange under the ticker CWC. The company is headquartered in London with its operational hub located in Miami, within close proximity to the Caribbean and Latin America.
For more information visit:www.cwc.com.
About Celltick
Celltick is a global leader in mobile marketing. Celltick's Start is a next generation personalized intelligent interface for Android devices. Celltick is unique in creating and managing mass market mobile marketing solutions for mobile operators, large media companies, device manufacturers and large brands. Celltick enables its partners to engage and monetize their users on the mobile. The company drives billions of transactions annually across more than 150 million active consumers across its different mobile platforms in over 25 countries. A rapidly growing company, Celltick has subsidiaries in Europe, Asia, South America and the U.S. For more information, visitwww.celltick.com. || Celltick Partners With Cable & Wireless to Bring Startscreen to Android Devices: MIAMI, FL and SAN FRANCISCO, CA--(Marketwired - Jan 19, 2016) - Celltick , a global leader in mobile marketing announces a partnership with leading Caribbean and Latin American network provider, Cable & Wireless Communications (C&W) ( LSE : CWC ). C&W will provide a branded, localized and customized version of Celltick's Start on its android phones across its Caribbean and Latin American markets. Start provides users with an intelligent next-generation startscreen giving users what they want most when they wake up their phones. The Start platform learns from the way users operate their phone and provides convenient productive ways to enhance the intelligence of the device. C&W users will get a new startscreen on their android devices under the C&W brands -- Flow, LIME, Mas Movil and BTC. Users will be able to better utilize their phones and personalize their devices with stickers, interactive themes as well as play games on their first screen. "Through this partnership, our customers will now have the benefit of a much more personalized, interactive start screen on their mobile device that meets their specific individual needs," said John Reid, President of C&W's Consumer Group. C&W will provide users with local 'infotainments' such as news and weather, rapid access to social media feeds, web search, latest videos and more on the startscreen. "This underscores our ongoing commitment to continuously innovate and transform the total telecommunications experience across the region," added Reid. "We're excited to partner with Cable & Wireless across its 14 mobile markets to provide an enhanced user experience for their subscribers," said Fernando Bortman, GM CALA, Celltick. "The selection of Start by C&W highlights the innovative approach that we have taken in delighting consumers and the excellence of the product." Start's growing ecosystem includes hundreds of themes, plug-ins, stickers and lockgames. Celltick's Start has been adopted by over 40 large operators, OEMs and media companies who distribute over 100M devices around the globe. In 2014, Celltick powered billions of mobile-initiated commerce transactions for virtual and physical goods serving more than 150 million active consumers across 25 countries. Story continues About Cable & Wireless Communications Cable & Wireless Communications Plc (CWC) is a full service communications and entertainment provider, operating in the Caribbean and Latin America. With annual sales of over $2.4bn, it operates both mobile and fixed networks, supported by submarine and terrestrial optical fibre backhaul capacity. Through the acquisition of Columbus International Inc. on 31 March 2015, CWC now delivers superior high-speed mobile data, broadband and video services. It has leading market positions in Mobile, Fixed Line, Broadband and Video consumer offers. Through its business division, CWC provides data centre hosting, domestic and international managed network services, and customised IT service solutions, utilising cloud technology to serve business and government customers. The company also operates a state-of-the-art subsea fibre optic cable network that spans more than 42,000 km -- the most extensive in the region -- as well as 38,000 km of terrestrial fibre providing wholesale and carrier backhaul capacity. CWC has more than 7,200 employees serving over 6.3 million customers (Mobile 4.1m; Fixed Line 1.1m; Video 465k and Broadband 680k) as well as over 125k corporate clients across 42 countries. The Company's leading brands include; LIME and Flow in the Caribbean; BTC in The Bahamas; Mas Movil in Panama; C&W Business and C&W Networks. CWC is the market leader in most products offered and territories served. It is a major contributor to local communities through its corporate social responsibility programmes. Cable & Wireless Communications' shares are quoted on the London Stock Exchange under the ticker CWC. The company is headquartered in London with its operational hub located in Miami, within close proximity to the Caribbean and Latin America. For more information visit: www.cwc.com . About Celltick Celltick is a global leader in mobile marketing. Celltick's Start is a next generation personalized intelligent interface for Android devices. Celltick is unique in creating and managing mass market mobile marketing solutions for mobile operators, large media companies, device manufacturers and large brands. Celltick enables its partners to engage and monetize their users on the mobile. The company drives billions of transactions annually across more than 150 million active consumers across its different mobile platforms in over 25 countries. A rapidly growing company, Celltick has subsidiaries in Europe, Asia, South America and the U.S. For more information, visit www.celltick.com . || XBT Provider AB: Bitcoin Tracker EUR (COINXBE) Now Available on Nasdaq Nordic through Interactive Brokers: Stockholm, Sweden (January 19, 2016) - XBT Provider AB (publ) announced today the availability of the ETN Bitcoin Tracker EUR in 179 countries. Starting today anyone with an Interactive Brokers account can trade the ETN Bitcoin Tracker EUR. The ticker code is COINXBE. ISIN: SE0007525332
The tracker is an exchange traded note designed to mirror the return of the underlying asset, U.S. dollar (USD) per bitcoin.
This is the first bitcoin-based security denominated in Euro available on a regulated exchange. XBT Provider launched this financial instrument to meet the needs of investors` growing appetite for exposure to bitcoin prices.
"Bitcoin tracker EUR" is listed on Nasdaq Nordic and traded in the same manner as any share or instrument listed on the Nasdaq exchange in Stockholm. COINXBE is also available via Bloomberg terminals.
Direct link to specifications at Nasdaq:http://www.nasdaqomxnordic.com/etp/etn/etninfo?Instrument=SSE113749
Direct link to specifications at Bloomberg:http://www.bloomberg.com/quote/COINXBE:SS
The full prospectus and more information is available onxbtprovider.com
ABOUT THE ISSUER: XBT PROVIDER
XBT Provider AB (publ) is a public limited liability company formed in Sweden with statutory seat in Stockholm. The issuer is incorporated under Swedish law and registered with the Swedish companies` registration office under registration number 559001-3313.
Press release (PDF)
This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.Source: XBT Provider AB via GlobeNewswireHUG#1975095 || XBT Provider AB: Bitcoin Tracker EUR (COINXBE) Now Available on Nasdaq Nordic through Interactive Brokers: Stockholm, Sweden (January 19, 2016) - XBT Provider AB (publ) announced today the availability of the ETN Bitcoin Tracker EUR in 179 countries. Starting today anyone with an Interactive Brokers account can trade the ETN Bitcoin Tracker EUR. The ticker code is COINXBE. ISIN: SE0007525332
The tracker is an exchange traded note designed to mirror the return of the underlying asset, U.S. dollar (USD) per bitcoin.
This is the first bitcoin-based security denominated in Euro available on a regulated exchange. XBT Provider launched this financial instrument to meet the needs of investors` growing appetite for exposure to bitcoin prices.
"Bitcoin tracker EUR" is listed on Nasdaq Nordic and traded in the same manner as any share or instrument listed on the Nasdaq exchange in Stockholm. COINXBE is also available via Bloomberg terminals.
Direct link to specifications at Nasdaq:http://www.nasdaqomxnordic.com/etp/etn/etninfo?Instrument=SSE113749
Direct link to specifications at Bloomberg:http://www.bloomberg.com/quote/COINXBE:SS
The full prospectus and more information is available onxbtprovider.com
ABOUT THE ISSUER: XBT PROVIDER
XBT Provider AB (publ) is a public limited liability company formed in Sweden with statutory seat in Stockholm. The issuer is incorporated under Swedish law and registered with the Swedish companies` registration office under registration number 559001-3313.
Press release (PDF)
This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.Source: XBT Provider AB via GlobeNewswireHUG#1975095 || Bitcoin industry consolidates: Why Kraken bought Coinsetter: For the past two years, the most popular type of new bitcoin company has been exchanges, where investors can buy and trade bitcoin and other virtual currencies. Now two exchanges are already rolling up, in the first major bitcoin industry acquisition of 2016. Kraken, which is based in San Francisco but sees most of its trading activity in Euros, has bought Coinsetter, a smaller New York-based exchange, for an undisclosed amount. Coinsetter will shut down on Jan. 26 and its customers will be converted to Kraken. According to data from TradeBlock, the average daily transaction volume on Kraken last year was around $1.3 million. The deal comes amid a price collapse and high negativity around bitcoin's future. Mike Hearn, a prominent bitcoin developer, wrote a post on Medium last week announcing his opinion that the bitcoin "experiment" has failed. "I will no longer be taking part in bitcoin development and have sold all my coins," he wrote. "The network is on the brink of technical collapse. The mechanisms that should have prevented this outcome have broken down, and as a result theres no longer much reason to think Bitcoin can actually be better than the existing financial system." The core of Hearn's argument is that the speed of transactions has slown; a contentious issue in the bitcoin community right now is whether and when to raise the size limit on "blocks," the term for a bundle of bitcoin transactions. Every single transaction is recorded and processed as part of a block on the bitcoin blockchain, a public, decentralized ledger. If this all sounds like a foreign language to you, don't worry: All you need to understand is that the bad optics of a prominent bitcoin flag-waver leaving the industry in a huff was enough to send the price plummeting. After Hearn posted his piece on Jan. 14, the price of the digital currency fell from $430 down to a low of $358 two days later. It now hovers around $380, according to Winkdex. Story continues Viewed in this context, consolidation in the industry may look troubling. But Coinsetter CEO Jaron Lukasiewicz isn't concerned. "Im bullish on bitcoin right now and believe well see the price hit four-digits again," he tells Yahoo Finance. Perhaps that's easy for him to say: Coinsetter will shut down, and Lukasiewicz is moving on, likely following Hearn to the exit. ("For my next venture I am focused on starting or leading a team whose products are improving society... Im not tied to any particular industry beyond that," he says.) The sale comes less than a year after Coinsetter made its own acquisition of the Canadian-based bitcoin exchange Cavirtexa deal that likely helped make Coinsetter an acquisition target itself. Benefiting from volatility Kraken CEO Jesse Powell is less starry-eyed about the industry right now. "I think the market has not grown as fast as everyone anticipated," he says. "And the price has gone in the opposite direction of what people hoped. I think well continue to see market consolidation. When the price is going up, new people are coming in, more media is covering it, its good news all around. When the price is going down, the public perception is bad, and everyone says bitcoin is crashing. The price is important in that aspect." For a long time, many bitcoin believers insisted that the price isn't important. As long as it is relatively stable, they reasoned, startups can keep innovating and building useful applications on top of the blockchain. But for bitcoin exchanges, price matters: Most make their money from transaction fees, so they do best when theres either a lot of volatility, or the price is high. When the price is stable and low, exchanges suffer. Leaving New York Kraken, founded in 2011, is like a foreign exchange for digital currencies. Its customers are mostly professional traders executing margin trades and other advanced orders. It is not a site where beginners would go to casually dip a toe into the bitcoin market. Coinsetter, founded in 2012, offers Kraken the chance to instantly expand its customer base in Canada (from Cavirtex) and the U.S. Except in New York. Kraken was one of the companies to cut off service in the state last summer after the New York Department of Financial Services released the final version of the BitLicense, a regulatory framework for digital currency companies in New York that holds customers' funds. Many bitcoin entrepreneurs complained the framework was too strict and limiting, so rather than play ball, they left. Coinsetter didn't leave New York. But under new management, it will now. "Were going to shut down New York again right after the acquisition," says Powell. "So the Coinsetter New York clients will be out of an exchange there, unfortunately. Coinsetter did put in a BitLicense application, but when you have a change of control, the application is void, so we wont be serving New York and we have no plans to apply for a BitLicense in the future." In a sense, Powell is simply sticking to his guns, just like Hearnexcept that the latter believes bitcoin has already failed, while the former believes it risks failure if there is over-regulation. Indeed, apart from the debate over block size, the industry's bigger battle will be over regulation. Many in the business are anxiously waiting to see whether other states will follow New York's lead and create their own form of a BitLicense. And while some companies stayed in New York and applied for a BitLicense (at high cost: Lukasiewicz says Coinsetter spent $50,000 to apply for one), others stayed in New York but did not apply, and continue to operate in uncertainty. That concerns Powell. "Theres still not really regulatory clarity, and the banks still arent getting on board. Theyre all about the blockchain these days, but theyre still not giving bitcoin exchanges bank accounts. So there are huge challenges with getting new exchanges started." He's right about the blockchain being a buzzword for big financial institutions: Everyone from JPMorgan ( JPM ) to the Nasdaq have talked up their interest in the blockchain while distancing themselves from the cryptocurrency that fuels it. For now, Kraken gets bigger. It can compete more with the leading exchanges like BitInstant, Bitstamp, Coinbase and itBit, as well as brand new exchange platforms launched last year, including Abra, Align Commerce, and Gemini, an exchange launched by Cameron and Tyler Winklevoss, of Facebook fame. "The issue for everybody in bitcoin right now," Powell says, "is if you started out a few years ago, say, in 2011, you thought that five years from now, its going to be flying cars, bitcoin everywhere, fiat currency will cease to exist. Clearly that didnt happen, and bitcoin isnt $10,000 a coin. I think a lot of companies created a structure that depended on a high price of bitcoin. When the price went from $1,000 to $200, they could no longer afford to finance their operation." If the price drops further, expect to see more consolidation. And with so many different exchanges out there, it's inevitable more will roll up. -- Daniel Roberts is a writer at Yahoo Finance, covering sports business and technology. Read more: Here's a sign that PayPal is embracing Bitcoin Fantex, the 'athlete stock exchange,' signs first golfer Why Apple, Uber are betting on Super Bowl sponsorship || Bitcoin industry consolidates: Why Kraken bought Coinsetter: For the past two years, the most popular type of new bitcoin company has been exchanges, where investors can buy and trade bitcoin and other virtual currencies. Now two exchanges are already rolling up, in the first major bitcoin industry acquisition of 2016.
Kraken, which is based in San Francisco but sees most of its trading activity in Euros, has bought Coinsetter, a smaller New York-based exchange, for an undisclosed amount. Coinsetter will shut down on Jan. 26 and its customers will be converted to Kraken. According to data from TradeBlock, the average daily transaction volume on Kraken last year was around $1.3 million.
The deal comes amid a price collapse and high negativity around bitcoin's future. Mike Hearn, a prominent bitcoin developer, wrote a poston Mediumlast week announcing his opinion that the bitcoin "experiment" has failed. "I will no longer be taking part in bitcoin development and have sold all my coins," he wrote. "The network is on the brink of technical collapse. The mechanisms that should have prevented this outcome have broken down, and as a result there’s no longer much reason to think Bitcoin can actually be better than the existing financial system."
The core of Hearn's argument is that the speed of transactions has slown; a contentious issue in the bitcoin community right now is whether and when to raise the size limit on "blocks," the term for a bundle of bitcoin transactions. Every single transaction is recorded and processed as part of a block on the bitcoin blockchain, a public, decentralized ledger. If this all sounds like a foreign language to you, don't worry: All you need to understand is that the bad optics of a prominent bitcoin flag-waver leaving the industry in a huff was enough to send the price plummeting. After Hearn posted his piece on Jan. 14, the price of the digital currency fell from $430 down to a low of $358 two days later. It now hovers around $380, according to Winkdex.
Viewed in this context, consolidation in the industry may look troubling. But Coinsetter CEO Jaron Lukasiewicz isn't concerned. "I’m bullish on bitcoin right now and believe we’ll see the price hit four-digits again," he tells Yahoo Finance. Perhaps that's easy for him to say: Coinsetter will shut down, and Lukasiewicz is moving on, likely following Hearn to the exit. ("For my next venture I am focused on starting or leading a team whose products are improving society... I’m not tied to any particular industry beyond that," he says.) The sale comes less than a year after Coinsettermade its own acquisitionof the Canadian-based bitcoin exchange Cavirtex—a deal that likely helped make Coinsetter an acquisition target itself.Benefiting from volatility
Kraken CEO Jesse Powell is less starry-eyed about the industry right now. "I think the market has not grown as fast as everyone anticipated," he says. "And the price has gone in the opposite direction of what people hoped. I think we’ll continue to see market consolidation. When the price is going up, new people are coming in, more media is covering it, it’s good news all around. When the price is going down, the public perception is bad, and everyone says bitcoin is crashing. The price is important in that aspect."
For a long time, many bitcoin believers insisted that the price isn't important. As long as it is relatively stable, they reasoned, startups can keep innovating and building useful applications on top of the blockchain. But for bitcoin exchanges, price matters: Most make their money from transaction fees, so they do best when there’s either a lot of volatility, or the price is high. When the price is stableandlow, exchanges suffer.
Leaving New York
Kraken, founded in 2011, is like a foreign exchange for digital currencies. Its customers are mostly professional traders executing margin trades and other advanced orders. It is not a site where beginners would go to casually dip a toe into the bitcoin market. Coinsetter, founded in 2012, offers Kraken the chance to instantly expand its customer base in Canada (from Cavirtex) and the U.S.
Except in New York. Kraken was one of the companies tocut off service in the statelast summer after the New York Department of Financial Services released the final version of the BitLicense, a regulatory framework for digital currency companies in New York that holds customers' funds. Many bitcoin entrepreneurs complained the framework was too strict and limiting, so rather than play ball, they left.
Coinsetter didn't leave New York. But under new management, it will now. "We’re going to shut down New York again right after the acquisition," says Powell. "So the Coinsetter New York clients will be out of an exchange there, unfortunately. Coinsetter did put in a BitLicense application, but when you have a change of control, the application is void, so we won’t be serving New York and we have no plans to apply for a BitLicense in the future."
In a sense, Powell is simply sticking to his guns, just like Hearn—except that the latter believes bitcoin has already failed, while the former believes it risks failure if there is over-regulation. Indeed, apart from the debate over block size, the industry's bigger battle will be over regulation. Many in the business are anxiously waiting to see whether other states will follow New York's lead and create their own form of a BitLicense. And while some companies stayed in New York and applied for a BitLicense (at high cost: Lukasiewicz says Coinsetter spent $50,000 to apply for one), others stayed in New York but did not apply, and continue to operate in uncertainty.
That concerns Powell. "There’s still not really regulatory clarity, and the banks still aren’t getting on board. They’re all about the blockchain these days, but they’re still not giving bitcoin exchanges bank accounts. So there are huge challenges with getting new exchanges started." He's right about the blockchain being a buzzword for big financial institutions: Everyone from JPMorgan (JPM) to the Nasdaq have talked up their interest in the blockchain while distancing themselves from the cryptocurrency that fuels it.
For now, Kraken gets bigger. It can compete more with the leading exchanges like BitInstant, Bitstamp, Coinbase and itBit, as well as brand new exchange platforms launched last year, including Abra, Align Commerce, and Gemini, an exchange launched by Cameron and Tyler Winklevoss, of Facebook fame.
"The issue for everybody in bitcoin right now," Powell says, "is if you started out a few years ago, say, in 2011, you thought that five years from now, it’s going to be flying cars, bitcoin everywhere, fiat currency will cease to exist. Clearly that didn’t happen, and bitcoin isn’t $10,000 a coin. I think a lot of companies created a structure that depended on a high price of bitcoin. When the price went from $1,000 to $200, they could no longer afford to finance their operation."
If the price drops further, expect to see more consolidation. And with so many different exchanges out there, it's inevitable more will roll up.
--
Daniel Roberts is a writer at Yahoo Finance, covering sports business and technology.Read more:
Here's a sign that PayPal is embracing Bitcoin
Fantex, the 'athlete stock exchange,' signs first golfer
Why Apple, Uber are betting on Super Bowl sponsorship || Bitcoin industry consolidates: Why Kraken bought Coinsetter: For the past two years, the most popular type of new bitcoin company has been exchanges, where investors can buy and trade bitcoin and other virtual currencies. Now two exchanges are already rolling up, in the first major bitcoin industry acquisition of 2016.
Kraken, which is based in San Francisco but sees most of its trading activity in Euros, has bought Coinsetter, a smaller New York-based exchange, for an undisclosed amount. Coinsetter will shut down on Jan. 26 and its customers will be converted to Kraken. According to data from TradeBlock, the average daily transaction volume on Kraken last year was around $1.3 million.
The deal comes amid a price collapse and high negativity around bitcoin's future. Mike Hearn, a prominent bitcoin developer, wrote a poston Mediumlast week announcing his opinion that the bitcoin "experiment" has failed. "I will no longer be taking part in bitcoin development and have sold all my coins," he wrote. "The network is on the brink of technical collapse. The mechanisms that should have prevented this outcome have broken down, and as a result there’s no longer much reason to think Bitcoin can actually be better than the existing financial system."
The core of Hearn's argument is that the speed of transactions has slown; a contentious issue in the bitcoin community right now is whether and when to raise the size limit on "blocks," the term for a bundle of bitcoin transactions. Every single transaction is recorded and processed as part of a block on the bitcoin blockchain, a public, decentralized ledger. If this all sounds like a foreign language to you, don't worry: All you need to understand is that the bad optics of a prominent bitcoin flag-waver leaving the industry in a huff was enough to send the price plummeting. After Hearn posted his piece on Jan. 14, the price of the digital currency fell from $430 down to a low of $358 two days later. It now hovers around $380, according to Winkdex.
Viewed in this context, consolidation in the industry may look troubling. But Coinsetter CEO Jaron Lukasiewicz isn't concerned. "I’m bullish on bitcoin right now and believe we’ll see the price hit four-digits again," he tells Yahoo Finance. Perhaps that's easy for him to say: Coinsetter will shut down, and Lukasiewicz is moving on, likely following Hearn to the exit. ("For my next venture I am focused on starting or leading a team whose products are improving society... I’m not tied to any particular industry beyond that," he says.) The sale comes less than a year after Coinsettermade its own acquisitionof the Canadian-based bitcoin exchange Cavirtex—a deal that likely helped make Coinsetter an acquisition target itself.Benefiting from volatility
Kraken CEO Jesse Powell is less starry-eyed about the industry right now. "I think the market has not grown as fast as everyone anticipated," he says. "And the price has gone in the opposite direction of what people hoped. I think we’ll continue to see market consolidation. When the price is going up, new people are coming in, more media is covering it, it’s good news all around. When the price is going down, the public perception is bad, and everyone says bitcoin is crashing. The price is important in that aspect."
For a long time, many bitcoin believers insisted that the price isn't important. As long as it is relatively stable, they reasoned, startups can keep innovating and building useful applications on top of the blockchain. But for bitcoin exchanges, price matters: Most make their money from transaction fees, so they do best when there’s either a lot of volatility, or the price is high. When the price is stableandlow, exchanges suffer.
Leaving New York
Kraken, founded in 2011, is like a foreign exchange for digital currencies. Its customers are mostly professional traders executing margin trades and other advanced orders. It is not a site where beginners would go to casually dip a toe into the bitcoin market. Coinsetter, founded in 2012, offers Kraken the chance to instantly expand its customer base in Canada (from Cavirtex) and the U.S.
Except in New York. Kraken was one of the companies tocut off service in the statelast summer after the New York Department of Financial Services released the final version of the BitLicense, a regulatory framework for digital currency companies in New York that holds customers' funds. Many bitcoin entrepreneurs complained the framework was too strict and limiting, so rather than play ball, they left.
Coinsetter didn't leave New York. But under new management, it will now. "We’re going to shut down New York again right after the acquisition," says Powell. "So the Coinsetter New York clients will be out of an exchange there, unfortunately. Coinsetter did put in a BitLicense application, but when you have a change of control, the application is void, so we won’t be serving New York and we have no plans to apply for a BitLicense in the future."
In a sense, Powell is simply sticking to his guns, just like Hearn—except that the latter believes bitcoin has already failed, while the former believes it risks failure if there is over-regulation. Indeed, apart from the debate over block size, the industry's bigger battle will be over regulation. Many in the business are anxiously waiting to see whether other states will follow New York's lead and create their own form of a BitLicense. And while some companies stayed in New York and applied for a BitLicense (at high cost: Lukasiewicz says Coinsetter spent $50,000 to apply for one), others stayed in New York but did not apply, and continue to operate in uncertainty.
That concerns Powell. "There’s still not really regulatory clarity, and the banks still aren’t getting on board. They’re all about the blockchain these days, but they’re still not giving bitcoin exchanges bank accounts. So there are huge challenges with getting new exchanges started." He's right about the blockchain being a buzzword for big financial institutions: Everyone from JPMorgan (JPM) to the Nasdaq have talked up their interest in the blockchain while distancing themselves from the cryptocurrency that fuels it.
For now, Kraken gets bigger. It can compete more with the leading exchanges like BitInstant, Bitstamp, Coinbase and itBit, as well as brand new exchange platforms launched last year, including Abra, Align Commerce, and Gemini, an exchange launched by Cameron and Tyler Winklevoss, of Facebook fame.
"The issue for everybody in bitcoin right now," Powell says, "is if you started out a few years ago, say, in 2011, you thought that five years from now, it’s going to be flying cars, bitcoin everywhere, fiat currency will cease to exist. Clearly that didn’t happen, and bitcoin isn’t $10,000 a coin. I think a lot of companies created a structure that depended on a high price of bitcoin. When the price went from $1,000 to $200, they could no longer afford to finance their operation."
If the price drops further, expect to see more consolidation. And with so many different exchanges out there, it's inevitable more will roll up.
--
Daniel Roberts is a writer at Yahoo Finance, covering sports business and technology.Read more:
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Why Apple, Uber are betting on Super Bowl sponsorship || MarilynJean Interactive (MJMI.QB) Shareholder Update: Marilynjean Interactive ( MJMI ) Is Pleased To Update Its Shareholders on Its Business Plan for the Coming Year HENDERSON, NV / ACCESSWIRE / January 18, 2016 / The crypto-currency space saw major strides forward in 2015 with ground-breaking developments in its underlying technology and regulation as well as an unexpected rise in Bitcoin prices. The space appears poised for a quantum leap forward in 2016 and MarilynJean is excited to be a part of what will likely be tremendous growth in the industry. From a technology standpoint, Bitcoin's blockchain is envisioned to revolutionize the settlement of securities and payments for both financial and non-financial institutions alike. Major stock and futures exchanges, clearing houses, and other technology organizations are exploring the use of blockchain technology to underpin their transaction verification systems. Bloomberg estimates that approximately $373 million was invested in Bitcoin start-ups in 2015. As investment in Bitcoin and blockchain technology grew, new regulation evidenced that Bitcoin is on track to become a widely used and accepted currency. New York issued its first Bitlicense allowing Goldman Sachs backed Circle Internet Financial to offer digital currency services in the state. The advent of regulated exchanges and trading instruments may have been a factor in driving demand for Bitcoin, its value having increased over 40% in 2015. While price volatility remained higher than traditional FIAT currencies, 2015 was overall a more stable year than its predecessor for Bitcoin. Looking ahead to 2016, MJMI plans to continue its focus on the key verticals of exchange, remittance and gaming. In addition, the Company plans to seek partnerships with firms involved specifically in development of applications based on blockchain technology. The Company plans to continue to expand its management and advisory board in 2016, advance the partnerships it began negotiating last year and continue to forge new alliances in the space. Story continues Peter Janosi, MJMI's president said: "We believe that MJMI's best avenue for growth is via acquisitions and strategic partnerships. We expect the industry to continue to expand and evolve rapidly and, as such, we expect our publicly traded currency to be a key strategic tool for growth and financing." About MJMI MJMI is in the business of providing safe and accessible services for the users of Bitcoin and other crypto-currencies. Crypto-currencies are a medium of exchange using cryptography to secure transactions and control the creation of new units. Bitcoin became the first decentralized crypto-currency in 2009. Crypto-currency is produced at a rate which is defined when the system is created and publicly known. By contrast, in centralized banking and economic systems, such as the Federal Reserve System, corporate boards or governments control the supply of currency by printing units or demanding additions to digital banking ledgers. However, neither companies nor governments can produce units of crypto-currency and as such the value of crypto-currencies are completely based on supply and demand, free from any governmental control. Many people believe crypto-currencies, and in particular Bitcoin, hold the promise of being the most significant advancement in global finance in modern history. The advent of Bitcoin creates a secure, easily accessible and transferable transnational currency that is completely liberated from political influence. MJMI is currently exploring partnerships in several verticals within the crypto-currency space. Management believes that several industries, including international remittances, currency exchange and online gambling are on the verge of being revolutionized by the use of Bitcoin to effect transactions. MarilynJean Media Interactive is among the first publicly traded companies focused on Bitcoin and the crypto-currency space. The company's trading symbol is OTCQB: MJMI. Website: www.marilynjean.com Press Contact: bonnie@marilynjean.com SOURCE: MarilynJean Media Interactive || MarilynJean Interactive (MJMI.QB) Shareholder Update: Marilynjean Interactive (MJMI) Is Pleased To Update Its Shareholders on Its Business Plan for the Coming Year
HENDERSON, NV / ACCESSWIRE / January 18, 2016 /The crypto-currency space saw major strides forward in 2015 with ground-breaking developments in its underlying technology and regulation as well as an unexpected rise in Bitcoin prices. The space appears poised for a quantum leap forward in 2016 and MarilynJean is excited to be a part of what will likely be tremendous growth in the industry.
From a technology standpoint, Bitcoin's blockchain is envisioned to revolutionize the settlement of securities and payments for both financial and non-financial institutions alike. Major stock and futures exchanges, clearing houses, and other technology organizations are exploring the use of blockchain technology to underpin their transaction verification systems.
Bloomberg estimates that approximately $373 million was invested in Bitcoin start-ups in 2015. As investment in Bitcoin and blockchain technology grew, new regulation evidenced that Bitcoin is on track to become a widely used and accepted currency. New York issued its first Bitlicense allowing Goldman Sachs backed Circle Internet Financial to offer digital currency services in the state.
The advent of regulated exchanges and trading instruments may have been a factor in driving demand for Bitcoin, its value having increased over 40% in 2015. While price volatility remained higher than traditional FIAT currencies, 2015 was overall a more stable year than its predecessor for Bitcoin.
Looking ahead to 2016, MJMI plans to continue its focus on the key verticals of exchange, remittance and gaming. In addition, the Company plans to seek partnerships with firms involved specifically in development of applications based on blockchain technology. The Company plans to continue to expand its management and advisory board in 2016, advance the partnerships it began negotiating last year and continue to forge new alliances in the space.
Peter Janosi, MJMI's president said: "We believe that MJMI's best avenue for growth is via acquisitions and strategic partnerships. We expect the industry to continue to expand and evolve rapidly and, as such, we expect our publicly traded currency to be a key strategic tool for growth and financing."
About MJMI
MJMI is in the business of providing safe and accessible services for the users of Bitcoin and other crypto-currencies.
Crypto-currencies are a medium of exchange using cryptography to secure transactions and control the creation of new units. Bitcoin became the first decentralized crypto-currency in 2009. Crypto-currency is produced at a rate which is defined when the system is created and publicly known. By contrast, in centralized banking and economic systems, such as the Federal Reserve System, corporate boards or governments control the supply of currency by printing units or demanding additions to digital banking ledgers. However, neither companies nor governments can produce units of crypto-currency and as such the value of crypto-currencies are completely based on supply and demand, free from any governmental control. Many people believe crypto-currencies, and in particular Bitcoin, hold the promise of being the most significant advancement in global finance in modern history. The advent of Bitcoin creates a secure, easily accessible and transferable transnational currency that is completely liberated from political influence.
MJMI is currently exploring partnerships in several verticals within the crypto-currency space. Management believes that several industries, including international remittances, currency exchange and online gambling are on the verge of being revolutionized by the use of Bitcoin to effect transactions.
MarilynJean Media Interactive is among the first publicly traded companies focused on Bitcoin and the crypto-currency space. The company's trading symbol is OTCQB: MJMI.
Website:www.marilynjean.comPress Contact:bonnie@marilynjean.com
SOURCE:MarilynJean Media Interactive || Lead developer quits bitcoin saying it 'has failed': By Jemima Kelly LONDON (Reuters) - Bitcoin slid by 10 percent on Friday after one of its lead developers, Mike Hearn, said in a blogpost that he was ending his involvement with the cryptocurrency and selling all of his remaining holdings because it had "failed". Hearn, one of five senior developers who has spent more than five years working on the web-based currency, said he would no longer be taking part in development. "Despite knowing that bitcoin could fail all along, the now inescapable conclusion that it has failed still saddens me greatly," Hearn said in his post on blog-publishing platform Medium. Along with Gavin Andresen, who was chosen by bitcoin's elusive creator Satoshi Nakamoto as his successor when he stepped aside in 2011, Hearn has been locked for months in a battle with the other lead developers over whether the "blocks" in which bitcoin transactions are processed should be enlarged. Each block currently has a capacity of one megabyte, which Hearn says is "an entirely artificial capacity cap", and allows a maximum of just three payments to be processed per second. In August, Hearn and Andresen released a rival version of the current software, called Bitcoin XT, which would increase the block size to 8 megabytes, allowing up to 24 transactions to be processed every second. While that is still a fraction of the 20,000 or so that Visa can process, it would increase every year, so that bitcoin could continue to grow. But the new software has not been adopted by the "mining" computers that secure the network, the majority of which are in China, according to Hearn. Hearn says the bitcoin network is about to run out of capacity as the volume of transactions increases. And when that happens, the network will become unreliable, with payments unable to be processed and vulnerable to fraud. "If an IT system runs out of capacity like that then all kinds of things go wrong – all hell breaks loose," he said in an interview with Reuters in late December. Story continues Hearn reckons the bitcoin community has "failed" in its governance of the crytocurrency's code. "What was meant to be a new, decentralised form of money that lacked 'systemically important institutions' and 'too big to fail' has become something even worse: a system completely controlled by just a handful of people," he wrote. SUDDEN DEPARTURE Just months ago, in August, Hearn told Reuters that whether or not Bitcoin XT was adopted, the crypocurrency would live on. "If we thought it might be the end of bitcoin, we wouldn't do it," he said then. Bitcoin was trading at around $390 on the itBit exchange (BTC=ITBT) by 2000 GMT, down from $430 before Hearn's blog post was published. In his December interview, Hearn said that when people realised that the bitcoin network was at breaking point, the price would fall. "The current price of bitcoin is supported almost entirely by people speculating on its future, in the assumption that this could be the money of tomorrow," he said. "So if the network starts to collapse, then a lot of people are going to look at it and say: well maybe we've miscalculated (its) future value." Hearn is now working for the R3CEV consortium of banks working on using the blockchain technology that underpins bitcoin in financial markets. Stephan Tual, the former chief operating officer of blockchain firm Ethereum, who now works at blockchain-based app developer Slock.it, also reckons bitcoin's future looks shaky. "Bitcoin is outdated technology - almost prehistoric by crypto standards," he said. "It's because of petty quarrels such as these that it hasn't been able to evolve in five years." Others were more upbeat. "I'm not ready to declare that Bitcoin has failed," wrote U.S. venture capitalist Fred Wilson. "Sometimes it takes a crisis to get everyone in a room... So if we are going to have a crisis, let's get on with it. No better time than the present." (Reporting by Jemima Kelly; Editing by Ruth Pitchford) || Lead developer quits bitcoin saying it 'has failed': By Jemima Kelly LONDON (Reuters) - Bitcoin slid by 10 percent on Friday after one of its lead developers, Mike Hearn, said in a blogpost that he was ending his involvement with the cryptocurrency and selling all of his remaining holdings because it had "failed". Hearn, one of five senior developers who has spent more than five years working on the web-based currency, said he would no longer be taking part in development. "Despite knowing that bitcoin could fail all along, the now inescapable conclusion that it has failed still saddens me greatly," Hearn said in his post on blog-publishing platform Medium. Along with Gavin Andresen, who was chosen by bitcoin's elusive creator Satoshi Nakamoto as his successor when he stepped aside in 2011, Hearn has been locked for months in a battle with the other lead developers over whether the "blocks" in which bitcoin transactions are processed should be enlarged. Each block currently has a capacity of one megabyte, which Hearn says is "an entirely artificial capacity cap", and allows a maximum of just three payments to be processed per second. In August, Hearn and Andresen released a rival version of the current software, called Bitcoin XT, which would increase the block size to 8 megabytes, allowing up to 24 transactions to be processed every second. While that is still a fraction of the 20,000 or so that Visa can process, it would increase every year, so that bitcoin could continue to grow. But the new software has not been adopted by the "mining" computers that secure the network, the majority of which are in China, according to Hearn. Hearn says the bitcoin network is about to run out of capacity as the volume of transactions increases. And when that happens, the network will become unreliable, with payments unable to be processed and vulnerable to fraud. "If an IT system runs out of capacity like that then all kinds of things go wrong – all hell breaks loose," he said in an interview with Reuters in late December. Story continues Hearn reckons the bitcoin community has "failed" in its governance of the crytocurrency's code. "What was meant to be a new, decentralised form of money that lacked 'systemically important institutions' and 'too big to fail' has become something even worse: a system completely controlled by just a handful of people," he wrote. SUDDEN DEPARTURE Just months ago, in August, Hearn told Reuters that whether or not Bitcoin XT was adopted, the crypocurrency would live on. "If we thought it might be the end of bitcoin, we wouldn't do it," he said then. Bitcoin was trading at around $390 on the itBit exchange (BTC=ITBT) by 2000 GMT, down from $430 before Hearn's blog post was published. In his December interview, Hearn said that when people realised that the bitcoin network was at breaking point, the price would fall. "The current price of bitcoin is supported almost entirely by people speculating on its future, in the assumption that this could be the money of tomorrow," he said. "So if the network starts to collapse, then a lot of people are going to look at it and say: well maybe we've miscalculated (its) future value." Hearn is now working for the R3CEV consortium of banks working on using the blockchain technology that underpins bitcoin in financial markets. Stephan Tual, the former chief operating officer of blockchain firm Ethereum, who now works at blockchain-based app developer Slock.it, also reckons bitcoin's future looks shaky. "Bitcoin is outdated technology - almost prehistoric by crypto standards," he said. "It's because of petty quarrels such as these that it hasn't been able to evolve in five years." Others were more upbeat. "I'm not ready to declare that Bitcoin has failed," wrote U.S. venture capitalist Fred Wilson. "Sometimes it takes a crisis to get everyone in a room... So if we are going to have a crisis, let's get on with it. No better time than the present." (Reporting by Jemima Kelly; Editing by Ruth Pitchford)
[Social Media Buzz]
Current price: 271.56£ $BTCGBP $btc #bitcoin 2016-01-23 00:40:14 GMT || #RDD / #BTC on the exchanges: Cryptsy: 0.00000005 Bittrex: 0.00000005 Average $1.9E-5 per #reddcoin 21:00:00 via #p…pic.twitter.com/8QvrBi2OR0 || Current price: 366.57€ $BTCEUR $btc #bitcoin 2016-01-22 08:00:12 CET || #RDD / #BTC on the exchanges: Cryptsy: 0.00000005 Bittrex: 0.00000005 Average $1.9E-5 per #reddcoin 00:15:01 via #p…pic.twitter.com/tNyzDhanXl || LIVE: Profit = $92.91 (4.58 %). BUY B5.24 @ $400.00 (#VirCurex)....
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387.49, 402.97, 391.73, 392.15, 394.97, 380.29, 379.47, 378.26, 368.77, 373.06
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Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 53333.54, 57424.01, 56396.52, 57356.40, 58803.78, 58232.32, 55859.80, 56704.57, 49150.54, 49716.19, 49880.54, 46760.19, 46456.06, 43537.51, 42909.40, 37002.44, 40782.74, 37304.69, 37536.63, 34770.58, 38705.98, 38402.22, 39294.20, 38436.97, 35697.61, 34616.07, 35678.13, 37332.86, 36684.93, 37575.18, 39208.77, 36894.41, 35551.96, 35862.38, 33560.71, 33472.63, 37345.12, 36702.60, 37334.40, 35552.52, 39097.86, 40218.48, 40406.27, 38347.06, 38053.50, 35787.25, 35615.87, 35698.30, 31676.69, 32505.66, 33723.03, 34662.44, 31637.78, 32186.28, 34649.64, 34434.34, 35867.78, 35040.84, 33572.12, 33897.05, 34668.55, 35287.78, 33746.00, 34235.20, 33855.33, 32877.37, 33798.01, 33520.52, 34240.19, 33155.85, 32702.03, 32822.35, 31780.73, 31421.54, 31533.07, 31796.81, 30817.83, 29807.35, 32110.69, 32313.11, 33581.55, 34292.45, 35350.19, 37337.54, 39406.94, 39995.91, 40008.42, 42235.55, 41626.20, 39974.89.
|
[Bitcoin Technical Analysis for 2021-08-01]
Volume: 26688438115, RSI (14-day): 63.83, 50-day EMA: 36372.31, 200-day EMA: 38640.75
[Wider Market Context]
None available.
[Recent News (last 7 days)]
Will Bitcoin Ever Run Out?: Bitcoin has been around since 2009, but it’s only been the last few years where it’s been on the map of the average investor. That’s likely due to the fact that the price of Bitcoin has absolutely exploded. Even after dropping over 50% from its high in 2021,Bitcoin is still up over 250% over the last year, and over 32,500% since 2014.Whereas lots of investors have gotten excited over the prospect ofbecoming rich by investing in Bitcoin, not many people fully understand exactly what Bitcoin is or how it works. For example, you may have heard that the total number of Bitcoin allowed to exist is limited. But, how is that possible, and what does it mean? Will Bitcoin ever run out?
Check Out:What Is the Next Big Cryptocurrency To Explode in 2021?Consider:Is the Shiba Inu Coin the Cryptocurrency You Should Be Watching?
Here’s a quick overview of how Bitcoin is produced, how it can be limited and what it all means for the future of the cryptocurrency.
While the mechanics of the operations can get a bit confusing, Bitcoin is produced by miners, but electronic miners rather than physical miners. The way it works is that Bitcoin miners record transactions on the blockchain, which is a decentralized ledger. To record a transaction, miners must solve complex algorithms using massive computer power. Once a transaction is recorded, which occurs about every 10 minutes on average, the miner is rewarded with Bitcoin. Currently, the reward for miners is 6.25 Bitcoin, but this amount is halved every four years. In 2009, when Bitcoin was first developed, the reward was 50 Bitcoin. It’s estimated that the next halving will be in 2024, when the reward will drop to 3.125 Bitcoin.
Learn More:Where Does Cryptocurrency Come From?
Under the mining system, it might seem like there would be no limit to the amount of Bitcoin that could be produced. However, the way its source code is written, there can be no more Bitcoin produced once 21 million coins are in the system. The way the mining system is set up means that the final Bitcoin won’t be mined until about 2140, however.So, although the production rate will slow, there will still be new Bitcoin coming online for over 100 years.
See:If You Invested $1,000 in These Cryptocurrencies a Year Ago, Here’s How Much You’d Have Now
Bitcoin will never “run out,” as there have already been over 18 million Bitcoin mined and there will ultimately be 21 million in the system.However, the introduction of new supply will eventually stop. This is one of the reasons Bitcoin bulls aggressively tout the cryptocurrency. In their opinion, increasing demand for Bitcoin will eventually overcome the limited supply, thereby driving up prices exponentially.
This could prove true, as more and more businesses and even countries are beginning to accept Bitcoin as a valid form of currency. El Salvador, for example, became the first country to accept Bitcoin as legal tender on June 9.However, the future demand for Bitcoin is still far from certain, which is part of the reason there are such wild swings in its price.
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Last updated: July 29, 2021
This article originally appeared onGOBankingRates.com:Will Bitcoin Ever Run Out? || Will Bitcoin Ever Run Out?: Sheldon Cooper/SOPA Images/Shutterstock Bitcoin has been around since 2009, but its only been the last few years where its been on the map of the average investor. Thats likely due to the fact that the price of Bitcoin has absolutely exploded. Even after dropping over 50% from its high in 2021, Bitcoin is still up over 250% over the last year, and over 32,500% since 2014. Whereas lots of investors have gotten excited over the prospect of becoming rich by investing in Bitcoin , not many people fully understand exactly what Bitcoin is or how it works. For example, you may have heard that the total number of Bitcoin allowed to exist is limited. But, how is that possible, and what does it mean? Will Bitcoin ever run out? Check Out: What Is the Next Big Cryptocurrency To Explode in 2021? Consider: Is the Shiba Inu Coin the Cryptocurrency You Should Be Watching? Heres a quick overview of how Bitcoin is produced, how it can be limited and what it all means for the future of the cryptocurrency. How Is Bitcoin Produced? While the mechanics of the operations can get a bit confusing, Bitcoin is produced by miners, but electronic miners rather than physical miners. The way it works is that Bitcoin miners record transactions on the blockchain, which is a decentralized ledger. To record a transaction, miners must solve complex algorithms using massive computer power. Once a transaction is recorded, which occurs about every 10 minutes on average, the miner is rewarded with Bitcoin. Currently, the reward for miners is 6.25 Bitcoin, but this amount is halved every four years. In 2009, when Bitcoin was first developed, the reward was 50 Bitcoin. Its estimated that the next halving will be in 2024, when the reward will drop to 3.125 Bitcoin. Learn More: Where Does Cryptocurrency Come From? Bitcoin Is Limited to 21 Million Under the mining system, it might seem like there would be no limit to the amount of Bitcoin that could be produced. However, the way its source code is written, there can be no more Bitcoin produced once 21 million coins are in the system. The way the mining system is set up means that the final Bitcoin wont be mined until about 2140, however. So, although the production rate will slow, there will still be new Bitcoin coming online for over 100 years. Story continues See: If You Invested $1,000 in These Cryptocurrencies a Year Ago, Heres How Much Youd Have Now The Future of Bitcoin Bitcoin will never run out, as there have already been over 18 million Bitcoin mined and there will ultimately be 21 million in the system. However, the introduction of new supply will eventually stop. This is one of the reasons Bitcoin bulls aggressively tout the cryptocurrency. In their opinion, increasing demand for Bitcoin will eventually overcome the limited supply, thereby driving up prices exponentially. This could prove true, as more and more businesses and even countries are beginning to accept Bitcoin as a valid form of currency. El Salvador, for example, became the first country to accept Bitcoin as legal tender on June 9. However, the future demand for Bitcoin is still far from certain, which is part of the reason there are such wild swings in its price. More From GOBankingRates What Money Topics Do You Want Covered: Ask the Financially Savvy Female 5 Things Most Americans Dont Know About Social Security 20 Home Renovations That Will Hurt Your Homes Value What Income Level Is Considered Middle Class in Your State? Last updated: July 29, 2021 This article originally appeared on GOBankingRates.com : Will Bitcoin Ever Run Out? || Will Bitcoin Ever Run Out?: Bitcoin has been around since 2009, but it’s only been the last few years where it’s been on the map of the average investor. That’s likely due to the fact that the price of Bitcoin has absolutely exploded. Even after dropping over 50% from its high in 2021,Bitcoin is still up over 250% over the last year, and over 32,500% since 2014.Whereas lots of investors have gotten excited over the prospect ofbecoming rich by investing in Bitcoin, not many people fully understand exactly what Bitcoin is or how it works. For example, you may have heard that the total number of Bitcoin allowed to exist is limited. But, how is that possible, and what does it mean? Will Bitcoin ever run out?
Check Out:What Is the Next Big Cryptocurrency To Explode in 2021?Consider:Is the Shiba Inu Coin the Cryptocurrency You Should Be Watching?
Here’s a quick overview of how Bitcoin is produced, how it can be limited and what it all means for the future of the cryptocurrency.
While the mechanics of the operations can get a bit confusing, Bitcoin is produced by miners, but electronic miners rather than physical miners. The way it works is that Bitcoin miners record transactions on the blockchain, which is a decentralized ledger. To record a transaction, miners must solve complex algorithms using massive computer power. Once a transaction is recorded, which occurs about every 10 minutes on average, the miner is rewarded with Bitcoin. Currently, the reward for miners is 6.25 Bitcoin, but this amount is halved every four years. In 2009, when Bitcoin was first developed, the reward was 50 Bitcoin. It’s estimated that the next halving will be in 2024, when the reward will drop to 3.125 Bitcoin.
Learn More:Where Does Cryptocurrency Come From?
Under the mining system, it might seem like there would be no limit to the amount of Bitcoin that could be produced. However, the way its source code is written, there can be no more Bitcoin produced once 21 million coins are in the system. The way the mining system is set up means that the final Bitcoin won’t be mined until about 2140, however.So, although the production rate will slow, there will still be new Bitcoin coming online for over 100 years.
See:If You Invested $1,000 in These Cryptocurrencies a Year Ago, Here’s How Much You’d Have Now
Bitcoin will never “run out,” as there have already been over 18 million Bitcoin mined and there will ultimately be 21 million in the system.However, the introduction of new supply will eventually stop. This is one of the reasons Bitcoin bulls aggressively tout the cryptocurrency. In their opinion, increasing demand for Bitcoin will eventually overcome the limited supply, thereby driving up prices exponentially.
This could prove true, as more and more businesses and even countries are beginning to accept Bitcoin as a valid form of currency. El Salvador, for example, became the first country to accept Bitcoin as legal tender on June 9.However, the future demand for Bitcoin is still far from certain, which is part of the reason there are such wild swings in its price.
More From GOBankingRates
• What Money Topics Do You Want Covered: Ask the Financially Savvy Female
• 5 Things Most Americans Don’t Know About Social Security
• 20 Home Renovations That Will Hurt Your Home’s Value
• What Income Level Is Considered Middle Class in Your State?
Last updated: July 29, 2021
This article originally appeared onGOBankingRates.com:Will Bitcoin Ever Run Out? || Fed’s Brainard Says US Can’t Not Have a CBDC in a World in Which Others Have Them: Chief among the reasons the U.S. needs to have a digital dollar is that other countries are racing to issue their own central bank digital currencies (CBDC), Federal Reserve Governor Lael Brainard said on Friday, Reuters reported . Speaking at the Aspen Institute Economic Strategy Group, Brainard said, “The dollar is very dominant in international payments, and if you have the other major jurisdictions in the world with a digital currency, a CBDC offering, and the U.S. doesn’t have one, I just, I can’t wrap my head around that,” according to the Reuters report. Earlier this month, Fed Chair Jerome Powell told a House committee a Fed report on CBDCs would come in early September as the central bank decides on the merits of issuing a digital dollar. Meanwhile, China is in the testing stage of its own CBDC. Closer to home, Brainard said the proliferation of stablecoins could fragment the payment system without a digital dollar, according to the report. A digital dollar could also help people without bank accounts to get government aid such as coronavirus pandemic relief payments, Reuters quoted the Fed governor as saying. Separately, Brainard said she doesn’t see any signs that currently high inflation readings are pushing longer-term inflation expectations above the central bank’s 2% target. Related Stories Brazilian Central Bank Projects ‘Significant Migration’ to Digital Payments Market Wrap: Bitcoin Hits Two-Month High After Late-Day Surge Ireland’s Central Bank Governor Says Digital Euro Is ‘Very Likely’ Bank of America Calls CBDCs ‘More Effective’ Than Cash in Research Note || Fed’s Brainard Says US Can’t Not Have a CBDC in a World in Which Others Have Them: Chief among the reasons the U.S. needs to have a digital dollar is that other countries are racing to issue their own central bank digital currencies (CBDC), Federal Reserve Governor Lael Brainard said on Friday, Reutersreported.
• Speaking at the Aspen Institute Economic Strategy Group, Brainard said, “The dollar is very dominant in international payments, and if you have the other major jurisdictions in the world with a digital currency, a CBDC offering, and the U.S. doesn’t have one, I just, I can’t wrap my head around that,” according to the Reuters report.
• Earlier this month, Fed Chair Jerome Powell told a House committee a Fed report on CBDCs would come in early September as the central bank decides on the merits of issuing a digital dollar. Meanwhile, China is in the testing stage of its own CBDC.
• Closer to home, Brainard said the proliferation of stablecoins could fragment the payment system without a digital dollar, according to the report.
• A digital dollar could also help people without bank accounts to get government aid such as coronavirus pandemic relief payments, Reuters quoted the Fed governor as saying.
• Separately, Brainard said she doesn’t see any signs that currently high inflation readings are pushing longer-term inflation expectations above the central bank’s 2% target.
• Brazilian Central Bank Projects ‘Significant Migration’ to Digital Payments
• Market Wrap: Bitcoin Hits Two-Month High After Late-Day Surge
• Ireland’s Central Bank Governor Says Digital Euro Is ‘Very Likely’
• Bank of America Calls CBDCs ‘More Effective’ Than Cash in Research Note || Bitcoin Mining Difficulty Increases For First Time Since May: What happened:New data shows the difficulty ofBitcoin(CRYPTO: BTC) mining is on the upswing. According to data fromBTC.comthe level of difficulty to mine the cryptocurrency increased by 6% on Saturday. It’s the first increase in difficulty for Bitcoin miners since the digital currency began to crash in May, according to a report fromDecrypt.
Why it’s important:The rate of difficulty has plunged since peaking at a record high in mid-May. The level continued to decrease in June and July after a crackdown on miners in China, causing them to leave the country or sell their mining machines. Chinese miners were responsible for 65% of the Bitcoin network’s hash rate at the time.
The largest drop in mining difficulty occurred on July 3 of this year, when the rate fell by 28%. Followed by another drop of 4.81% on July 18.
What’s next:The increasing rate of difficulty reported today indicates more mining machines are back online. The level of difficulty increases as more minors try to earn Bitcoin, which requires computer power to validate transactions on the network. BTC is priced at over $41800 at the time of publication, after marking a low of $28600 on June 22.
See more from Benzinga
• Click here for options trades from Benzinga
• Amazon Needs to Invest Billions In Warehouse System To Keep Up With Demand: Reuters
• U.S. Senate Holds Rare Saturday Session On 0B Infrastructure Spending Plan
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Bitcoin Mining Difficulty Increases For First Time Since May: What happened: New data shows the difficulty of Bitcoin (CRYPTO: BTC) mining is on the upswing. According to data from BTC.com the level of difficulty to mine the cryptocurrency increased by 6% on Saturday. Its the first increase in difficulty for Bitcoin miners since the digital currency began to crash in May, according to a report from Decrypt . Why its important: The rate of difficulty has plunged since peaking at a record high in mid-May. The level continued to decrease in June and July after a crackdown on miners in China, causing them to leave the country or sell their mining machines. Chinese miners were responsible for 65% of the Bitcoin networks hash rate at the time. The largest drop in mining difficulty occurred on July 3 of this year, when the rate fell by 28%. Followed by another drop of 4.81% on July 18. Whats next: The increasing rate of difficulty reported today indicates more mining machines are back online. The level of difficulty increases as more minors try to earn Bitcoin, which requires computer power to validate transactions on the network. BTC is priced at over $41800 at the time of publication, after marking a low of $28600 on June 22. See more from Benzinga Click here for options trades from Benzinga Amazon Needs to Invest Billions In Warehouse System To Keep Up With Demand: Reuters U.S. Senate Holds Rare Saturday Session On 0B Infrastructure Spending Plan © 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Bitcoin Mining Difficulty Increases For First Time Since May: What happened:New data shows the difficulty ofBitcoin(CRYPTO: BTC) mining is on the upswing. According to data fromBTC.comthe level of difficulty to mine the cryptocurrency increased by 6% on Saturday. It’s the first increase in difficulty for Bitcoin miners since the digital currency began to crash in May, according to a report fromDecrypt.
Why it’s important:The rate of difficulty has plunged since peaking at a record high in mid-May. The level continued to decrease in June and July after a crackdown on miners in China, causing them to leave the country or sell their mining machines. Chinese miners were responsible for 65% of the Bitcoin network’s hash rate at the time.
The largest drop in mining difficulty occurred on July 3 of this year, when the rate fell by 28%. Followed by another drop of 4.81% on July 18.
What’s next:The increasing rate of difficulty reported today indicates more mining machines are back online. The level of difficulty increases as more minors try to earn Bitcoin, which requires computer power to validate transactions on the network. BTC is priced at over $41800 at the time of publication, after marking a low of $28600 on June 22.
See more from Benzinga
• Click here for options trades from Benzinga
• Amazon Needs to Invest Billions In Warehouse System To Keep Up With Demand: Reuters
• U.S. Senate Holds Rare Saturday Session On 0B Infrastructure Spending Plan
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || GoldenTree Adds Bitcoin to Its Balance Sheet: Report: GoldenTree Asset Management, a New York-based with $45 billion under management, has been adding an undisclosed amount ofbitcointo its balance sheet, according areportby The Street, which cited two unnamed sources.
• With the purchase, the credit-focused firm company has become the latest Wall Street firm to become involved in the largest cryptocurrency by market value.
• GoldenTree, which is run by founder and Chief Investment Officer Steven Tananbaum, is considering hiring experts in cryptocurrency investments as it turns its attention to the industry, the report said.
• Ether Prints Record Winning Streak as London Hard Fork Looms
• What Is Latin America’s Love for Bitcoin? Feat. Sebastian Serrano
• Bitcoin Slips Below $40K; Support Around $34K
• Bitcoin Logs Biggest Weekly Price Gain in 3 Months as Illiquid Supply Hits Record High || GoldenTree Adds Bitcoin to Its Balance Sheet: Report: GoldenTree Asset Management, a New York-based with $45 billion under management, has been adding an undisclosed amount of bitcoin to its balance sheet, according a report by The Street, which cited two unnamed sources. With the purchase, the credit-focused firm company has become the latest Wall Street firm to become involved in the largest cryptocurrency by market value. GoldenTree, which is run by founder and Chief Investment Officer Steven Tananbaum, is considering hiring experts in cryptocurrency investments as it turns its attention to the industry, the report said. Related Stories Ether Prints Record Winning Streak as London Hard Fork Looms What Is Latin America’s Love for Bitcoin? Feat. Sebastian Serrano Bitcoin Slips Below $40K; Support Around $34K Bitcoin Logs Biggest Weekly Price Gain in 3 Months as Illiquid Supply Hits Record High || GoldenTree Adds Bitcoin to Its Balance Sheet: Report: GoldenTree Asset Management, a New York-based with $45 billion under management, has been adding an undisclosed amount ofbitcointo its balance sheet, according areportby The Street, which cited two unnamed sources.
• With the purchase, the credit-focused firm company has become the latest Wall Street firm to become involved in the largest cryptocurrency by market value.
• GoldenTree, which is run by founder and Chief Investment Officer Steven Tananbaum, is considering hiring experts in cryptocurrency investments as it turns its attention to the industry, the report said.
• Ether Prints Record Winning Streak as London Hard Fork Looms
• What Is Latin America’s Love for Bitcoin? Feat. Sebastian Serrano
• Bitcoin Slips Below $40K; Support Around $34K
• Bitcoin Logs Biggest Weekly Price Gain in 3 Months as Illiquid Supply Hits Record High || FTX/MLB Announces $100K Bitcoin Prize Money For Predicting Longest 2nd-Half HR: Sam Bankman-Frieds FTX sports, which has signed a five-year deal as the official crypto exchange brand of Major League Baseball (MLB), has announced a new competition dubbed MLB MOONBLASTS Pick Em, the Coindesk reports. According to the competition, the winner will receive $100,000 worth of bitcoin or cash if they can predict which player will hit the longest home run for the rest of the season. FTX has partnered with Major League Baseball to become the first cryptocurrency exchange sponsor in professional sports. The partnership establishes FTX as the official cryptocurrency exchange brand of the baseball organization. The deal involves FTX branding appearing on all umpire uniforms, which began at the All-Star Game in Denver on July 13, and will continue into the postseason. As part of the contract, FTX will exercise worldwide marketing rights associated with MLB logos. In March, FTX secured the naming rights to the home arena of the NBA's Miami Heat for $135 million, Coindesk reports. On Saturday, Bankman-Fried tweeted that the exchange had become the first cryptocurrency derivatives exchange for receiving a US GAAP audit. See more from Benzinga Click here for options trades from Benzinga Disney Makes Vaccination Mandatory For Salaried, Non-Union Hourly Workers In U.S. Short ARKK ETF To Bet Against Cathie Wood's Fund © 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || FTX/MLB Announces $100K Bitcoin Prize Money For Predicting Longest 2nd-Half HR: • Sam Bankman-Fried’s FTX sports, which has signed a five-year deal as the official crypto exchange brand of Major League Baseball (MLB), has announced a new competition dubbed “MLB MOONBLASTS Pick ‘Em,” theCoindeskreports.
• According to the competition, the winner will receive $100,000 worth of bitcoin or cash if they can predict which player will hit the longest home run for the rest of the season.
• FTX has partnered with Major League Baseball to become the first cryptocurrency exchange sponsor in professional sports.
• The partnership establishes FTX as the official cryptocurrency exchange brand of the baseball organization.
• The deal involves FTX branding appearing on all umpire uniforms, which began at the All-Star Game in Denver on July 13, and will continue into the postseason.
• As part of the contract, FTX will exercise worldwide marketing rights associated with MLB logos.
• In March, FTX secured the naming rights to the home arena of the NBA's Miami Heat for $135 million, Coindesk reports.
• On Saturday, Bankman-Friedtweetedthat the exchange had become the first cryptocurrency derivatives exchange for receiving a US GAAP audit.
See more from Benzinga
• Click here for options trades from Benzinga
• Disney Makes Vaccination Mandatory For Salaried, Non-Union Hourly Workers In U.S.
• Short ARKK ETF To Bet Against Cathie Wood's Fund
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || FTX/MLB Announces $100K Bitcoin Prize Money For Predicting Longest 2nd-Half HR: • Sam Bankman-Fried’s FTX sports, which has signed a five-year deal as the official crypto exchange brand of Major League Baseball (MLB), has announced a new competition dubbed “MLB MOONBLASTS Pick ‘Em,” theCoindeskreports.
• According to the competition, the winner will receive $100,000 worth of bitcoin or cash if they can predict which player will hit the longest home run for the rest of the season.
• FTX has partnered with Major League Baseball to become the first cryptocurrency exchange sponsor in professional sports.
• The partnership establishes FTX as the official cryptocurrency exchange brand of the baseball organization.
• The deal involves FTX branding appearing on all umpire uniforms, which began at the All-Star Game in Denver on July 13, and will continue into the postseason.
• As part of the contract, FTX will exercise worldwide marketing rights associated with MLB logos.
• In March, FTX secured the naming rights to the home arena of the NBA's Miami Heat for $135 million, Coindesk reports.
• On Saturday, Bankman-Friedtweetedthat the exchange had become the first cryptocurrency derivatives exchange for receiving a US GAAP audit.
See more from Benzinga
• Click here for options trades from Benzinga
• Disney Makes Vaccination Mandatory For Salaried, Non-Union Hourly Workers In U.S.
• Short ARKK ETF To Bet Against Cathie Wood's Fund
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || China Central Bank Cracking Down on Cryptocurrency Trading: Chinese government officials are announcing plans to continue a crackdown on cryptocurrency trading and speculation. What happened: In a statement released on Saturday, the Peoples Bank of China says it will maintain high pressure on virtual currency trading hype. Noting that the central bank has been severely cracking down on illegal activities of virtual currency this year and will continue supervising financial platforms operating in the country. Decrypt reports that the statement comes a day after bank officials set priorities for the second half of the year. Why its important: The statement from the Peoples Bank of China comes after officials introduced restrictions on Bitcoin (CRYPTO: BTC) mining earlier this year, causing Bitcoins hashrate to drop by 76%. Many Chinese miners have relocated to other countries. China has banned financial institutions from cryptocurrency transactions since 2017. The move has prevented cryptocurrency exchanges from operating in the country. Whats next: As China continues to escalate restrictions on cryptocurrencies, the countrys central bank has been working on developing its own digital currency. A recent report indicates digital yuan has been used in 70.75 million transactions, reaching a total value of 34.5 billion yuan ($5 billion) by the end of June. See more from Benzinga Click here for options trades from Benzinga Dole IPO Drops Over 9% During First Day Of Trading A British Trust Managing M In Assets Sells DoorDash And VMware Holdings © 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || China Central Bank Cracking Down on Cryptocurrency Trading: Chinese government officials are announcing plans to continue a crackdown on cryptocurrency trading and speculation.
What happened:In a statement released on Saturday, the People’s Bank of China says it will “maintain high pressure on virtual currency trading hype.” Noting that the central bank has been “severely cracking down on illegal activities of virtual currency” this year and will continue supervising financial platforms operating in the country.
Decryptreports that the statement comes a day after bank officials set priorities for the second half of the year.
Why it’s important:The statement from the People’s Bank of China comes after officials introduced restrictions on Bitcoin (CRYPTO: BTC) mining earlier this year, causing Bitcoin’s hashrate to drop by 76%. Many Chinese miners have relocated to other countries.
China has banned financial institutions from cryptocurrency transactions since 2017. The move has prevented cryptocurrency exchanges from operating in the country.
What’s next:As China continues to escalate restrictions on cryptocurrencies, the country’s central bank has been working on developing its own digital currency. A recent report indicates digital yuan has been used in 70.75 million transactions, reaching a total value of 34.5 billion yuan ($5 billion) by the end of June.
See more from Benzinga
• Click here for options trades from Benzinga
• Dole IPO Drops Over 9% During First Day Of Trading
• A British Trust Managing M In Assets Sells DoorDash And VMware Holdings
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Bitcoin Price Over $41K After Longest Streak in 8 Years: The bitcoin price was holding above $41,000, the highest since May, after a 10-day winning streak that was the longest in eight years for the largest cryptocurrency . As of press time bitcoin (BTC) was changing hands at $41,344, up 6.2% over the past 24 hours. Other CoinDesk 20 digital assets were also in the green, with ether rising 4.5% to $2,453 and chainlink jumping 13% to $21.72. Although the bitcoin price slipped after 0:00 coordinated universal time (UTC) on Saturday, it had notched 10 consecutive daily increases from July 21 through Friday, the longest winning streak since 2013. Related: What Is Latin Americas Love for Bitcoin? Feat. Sebastian Serrano Bitcoin reached an all-time high near $65,000 in mid-April as market euphoria peaked and the U.S. exchange Coinbase went public through a direct stock listing. But the price tumbled over the next few months as China cracked down on cryptocurrency mining and exchanges and regulators around the world moved to tighten industry rules. The Federal Reserve began to consider tapering its $120 billion-a-month of asset purchases a form of extreme monetary stimulus that has been a big driver of the investment narrative that bitcoin could serve as an effective hedge against inflation and currency debasement. Retail investors who had piled into bitcoin as prices soared early in the year rushed to exit positions, while big institutional investors grew reluctant to enter the market at lofty valuations. Prices traded in a range between $30,000 and $40,000 for about two months. But after bitcoin briefly dipped below $30,000 on July 20, the cryptocurrency began a steady ascent that has put it on track for an 18% gain in July, the first monthly increase in three months. The incredible winning streak comes at a very strange time when the FUD is thick, Mati Greenspan, founder of the cryptocurrency and foreign-exchange analysis firm Quantum Economics , wrote Friday in a newsletter. FUD is an acronym for fear, uncertainty and doubt, a term often used by crypto traders and analysts to refer to any negative news. Story continues Related: Bitcoin Slips Below $40K; Support Around $34K Bitcoin price resistance is still seen as stiff in the low-$40,000 range: BTC is potentially rangebound until it breaks and closes above $42,000, according to the digital-asset firm Eqonex. Trendline support has moved up to $38,200, with $36,500 the next support. But some industry analysts are now wondering aloud if the worst of bitcoins recent bear market might have passed. Something feels different this week, Coinbase wrote Saturday in a market analysis. Max fear seems to have disappeared. On a year-to-date basis, bitcoin is up 43%, vastly outperforming the 17% year-to-date gain in the Standard & Poors 500 Index. Related Stories Bitcoin Logs Biggest Weekly Price Gain in 3 Months as Illiquid Supply Hits Record High Bitcoin Price Slumps 5% as Recent Rally Begins to Cool || Bitcoin Price Over $41K After Longest Streak in 8 Years: Thebitcoinprice was holding above $41,000, the highest since May, after a 10-day winning streak that was the longest in eight years for thelargest cryptocurrency.
As of press time bitcoin (BTC) was changing hands at $41,344, up 6.2% over the past 24 hours. OtherCoinDesk 20 digital assetswere also in the green, withetherrising 4.5% to $2,453 andchainlinkjumping 13% to $21.72.
Although the bitcoin price slipped after 0:00 coordinated universal time (UTC) on Saturday, it had notched 10 consecutive daily increases from July 21 through Friday, the longest winning streak since 2013.
Related:What Is Latin America’s Love for Bitcoin? Feat. Sebastian Serrano
Bitcoin reached an all-time high near $65,000 in mid-April as market euphoria peaked and the U.S. exchange Coinbase went public through a direct stock listing. But the price tumbled over the next few months as China cracked down on cryptocurrency mining and exchanges and regulators around the world moved to tighten industry rules. The Federal Reserve began to consider tapering its $120 billion-a-month of asset purchases – a form of extreme monetary stimulus that has been a big driver of the investment narrative that bitcoin could serve as an effective hedge against inflation and currency debasement.
Retail investors who had piled into bitcoin as prices soared early in the year rushed to exit positions, while big institutional investors grew reluctant to enter the market at lofty valuations. Prices traded in a range between $30,000 and $40,000 for about two months.
But after bitcoin briefly dipped below $30,000 on July 20, the cryptocurrency began a steady ascent that has put it on track for an 18% gain in July, the first monthly increase in three months.
“The incredible winning streak comes at a very strange time when the FUD is thick,” Mati Greenspan, founder of the cryptocurrency and foreign-exchange analysis firmQuantum Economics, wrote Friday in a newsletter. FUD is an acronym for “fear, uncertainty and doubt,” a term often used by crypto traders and analysts to refer to any negative news.
Related:Bitcoin Slips Below $40K; Support Around $34K
Bitcoin price resistance is still seen as stiff in the low-$40,000 range: “BTC is potentially rangebound until it breaks and closes above $42,000,” according to the digital-asset firm Eqonex. “Trendline support has moved up to $38,200, with $36,500 the next support.”
But some industry analysts are now wondering aloud if the worst of bitcoin’s recentbear marketmight have passed.
“Something feels different this week,” Coinbase wrote Saturday in a market analysis. “Max fear seems to have disappeared.”
On a year-to-date basis, bitcoin is up 43%, vastly outperforming the 17% year-to-date gain in the Standard & Poor’s 500 Index.
• Bitcoin Logs Biggest Weekly Price Gain in 3 Months as Illiquid Supply Hits Record High
• Bitcoin Price Slumps 5% as Recent Rally Begins to Cool || Bitcoin Price Over $41K After Longest Streak in 8 Years: Thebitcoinprice was holding above $41,000, the highest since May, after a 10-day winning streak that was the longest in eight years for thelargest cryptocurrency.
As of press time bitcoin (BTC) was changing hands at $41,344, up 6.2% over the past 24 hours. OtherCoinDesk 20 digital assetswere also in the green, withetherrising 4.5% to $2,453 andchainlinkjumping 13% to $21.72.
Although the bitcoin price slipped after 0:00 coordinated universal time (UTC) on Saturday, it had notched 10 consecutive daily increases from July 21 through Friday, the longest winning streak since 2013.
Related:What Is Latin America’s Love for Bitcoin? Feat. Sebastian Serrano
Bitcoin reached an all-time high near $65,000 in mid-April as market euphoria peaked and the U.S. exchange Coinbase went public through a direct stock listing. But the price tumbled over the next few months as China cracked down on cryptocurrency mining and exchanges and regulators around the world moved to tighten industry rules. The Federal Reserve began to consider tapering its $120 billion-a-month of asset purchases – a form of extreme monetary stimulus that has been a big driver of the investment narrative that bitcoin could serve as an effective hedge against inflation and currency debasement.
Retail investors who had piled into bitcoin as prices soared early in the year rushed to exit positions, while big institutional investors grew reluctant to enter the market at lofty valuations. Prices traded in a range between $30,000 and $40,000 for about two months.
But after bitcoin briefly dipped below $30,000 on July 20, the cryptocurrency began a steady ascent that has put it on track for an 18% gain in July, the first monthly increase in three months.
“The incredible winning streak comes at a very strange time when the FUD is thick,” Mati Greenspan, founder of the cryptocurrency and foreign-exchange analysis firmQuantum Economics, wrote Friday in a newsletter. FUD is an acronym for “fear, uncertainty and doubt,” a term often used by crypto traders and analysts to refer to any negative news.
Related:Bitcoin Slips Below $40K; Support Around $34K
Bitcoin price resistance is still seen as stiff in the low-$40,000 range: “BTC is potentially rangebound until it breaks and closes above $42,000,” according to the digital-asset firm Eqonex. “Trendline support has moved up to $38,200, with $36,500 the next support.”
But some industry analysts are now wondering aloud if the worst of bitcoin’s recentbear marketmight have passed.
“Something feels different this week,” Coinbase wrote Saturday in a market analysis. “Max fear seems to have disappeared.”
On a year-to-date basis, bitcoin is up 43%, vastly outperforming the 17% year-to-date gain in the Standard & Poor’s 500 Index.
• Bitcoin Logs Biggest Weekly Price Gain in 3 Months as Illiquid Supply Hits Record High
• Bitcoin Price Slumps 5% as Recent Rally Begins to Cool || Finland Seeking Brokers to Assist in Sale of $82M Worth of Seized BTC: BeInCrypto –
Finland is currently looking for cryptocurrency brokers to assist in the sale of bitcoin used in criminal activities.
Finland hasannouncedthat it is currently looking for reputable brokers to assist in the sale of seized bitcoin. The bitcoin in question has been confiscated due to illegal activities within the country.
Currently, Finnish Customs holds approximately 1,981 bitcoin, which at the time of writing is worth $82 million.
This storywas seen first onBeInCryptoJoin our Telegram Groupand get trading signals, a free trading course and more stories likethisonBeInCrypto
[Social Media Buzz]
None available.
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39201.95, 38152.98, 39747.50, 40869.55, 42816.50, 44555.80, 43798.12, 46365.40, 45585.03, 45593.64
|
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 236.07, 236.55, 236.15, 224.59, 219.16, 223.83, 228.57, 222.88, 223.36, 222.60, 224.63, 235.27, 234.18, 236.46, 231.27, 226.39, 219.43, 229.29, 225.85, 225.81, 236.15, 232.08, 234.93, 240.36, 239.02, 236.12, 229.78, 237.33, 243.86, 241.83, 240.30, 242.16, 241.11, 236.38, 236.93, 237.60, 236.15, 236.80, 233.13, 231.95, 234.02, 235.34, 240.35, 238.87, 240.95, 237.11, 237.12, 237.28, 237.41, 237.10, 233.35, 230.19, 222.93, 225.80, 225.87, 224.32, 224.95, 225.62, 222.88, 228.49, 229.05, 228.80, 229.71, 229.98, 232.40, 233.54, 236.82, 250.90, 249.28, 249.01, 244.61, 245.21, 243.94, 246.99, 244.30, 240.51, 242.80, 243.59, 250.99, 249.01, 257.06, 263.07, 258.62, 255.41, 256.34, 260.89, 271.91, 269.03, 266.21, 270.79.
|
[Bitcoin Technical Analysis for 2015-07-08]
Volume: 36980200, RSI (14-day): 68.22, 50-day EMA: 246.90, 200-day EMA: 254.36
[Wider Market Context]
Gold Price: 1163.30, Gold RSI: 43.11
Oil Price: 51.65, Oil RSI: 28.02
[Recent News (last 7 days)]
Bitcoin is faltering at a bad, bad time for Greece: (GettyImages/Pacific Press)
Bitcoin's decentralized system is leaving loophole for technical errors — reminding investors that virtual money might not bethe perfect alternative to paper,Bloomberg's Olga Kharif reports.
At least not yet.
As some Greeks rushed to buy Bitcoinduring bank closures,the payment system, which has been trading at its highest since March, took a stumble over the weekend.
It took nearly five-times longer than usual to process transactions, said Gil Luria, an analyst at Wedbush Securities.
A payment could take up to five hours to be confirmed, while some users were also unable to create new Bitcoin, he said.
The lag was caused by an update to the payment system's PC software over the weekend — or more precisely, it was caused by a disjunction in the versions of software users own. Operators who hadn't updated the software "put the whole system out of whack," the article said.
Though the issue is expected to be fixed within a few days, it's not the first time Bitcoin has seen this kind of software problem, Luria said.
"I don't know that it's (ever) happened to this extent, because Bitcoin has never been this big," he said.
Bitcoin's customer base has increased, with nearly 120,000 transactions occurring a day in early June — an increase of 10 times since the same period in 2011, reported Coindesk, a Bitcoin-focused newsdesk.Last week, Coinbase, a Bitcoin exchange and wallet provider, waived fees for customers buying with euros due to the Greek Crisis.
According to Bloomberg, software updates will be much smoother if companies take more market share from Bitcoin machine hobbyists.
"This is test of a decentralized network," Luria said. "Every time Bitcoin passes one of these tests, it gets stronger."
Read the original article at Bloomberg>
NOW WATCH:Here's what you get when you order 'Omaha Steaks' in the mail
More From Business Insider
• Former DEA agent admits to stealing bitcoins while investigating Silk Road
• How Greece went bust
• A Greek politician told us Grexit will '100%' happen if 'No' wins on Sunday — and plans are already being made || Bitcoin is faltering at a bad, bad time for Greece: (GettyImages/Pacific Press)
Bitcoin's decentralized system is leaving loophole for technical errors — reminding investors that virtual money might not bethe perfect alternative to paper,Bloomberg's Olga Kharif reports.
At least not yet.
As some Greeks rushed to buy Bitcoinduring bank closures,the payment system, which has been trading at its highest since March, took a stumble over the weekend.
It took nearly five-times longer than usual to process transactions, said Gil Luria, an analyst at Wedbush Securities.
A payment could take up to five hours to be confirmed, while some users were also unable to create new Bitcoin, he said.
The lag was caused by an update to the payment system's PC software over the weekend — or more precisely, it was caused by a disjunction in the versions of software users own. Operators who hadn't updated the software "put the whole system out of whack," the article said.
Though the issue is expected to be fixed within a few days, it's not the first time Bitcoin has seen this kind of software problem, Luria said.
"I don't know that it's (ever) happened to this extent, because Bitcoin has never been this big," he said.
Bitcoin's customer base has increased, with nearly 120,000 transactions occurring a day in early June — an increase of 10 times since the same period in 2011, reported Coindesk, a Bitcoin-focused newsdesk.Last week, Coinbase, a Bitcoin exchange and wallet provider, waived fees for customers buying with euros due to the Greek Crisis.
According to Bloomberg, software updates will be much smoother if companies take more market share from Bitcoin machine hobbyists.
"This is test of a decentralized network," Luria said. "Every time Bitcoin passes one of these tests, it gets stronger."
Read the original article at Bloomberg>
NOW WATCH:Here's what you get when you order 'Omaha Steaks' in the mail
More From Business Insider
• Former DEA agent admits to stealing bitcoins while investigating Silk Road
• How Greece went bust
• A Greek politician told us Grexit will '100%' happen if 'No' wins on Sunday — and plans are already being made || Bitcoin is faltering at a bad, bad time for Greece: BitCoin ATM (GettyImages/Pacific Press) Bitcoin's decentralized system is leaving loophole for technical errors reminding investors that virtual money might not be the perfect alternative to paper, Bloomberg's Olga Kharif reports . At least not yet. As some Greeks rushed to buy Bitcoin during bank closures, the payment system, which has been trading at its highest since March, took a stumble over the weekend. It took nearly five-times longer than usual to process transactions, said Gil Luria, an analyst at Wedbush Securities. A payment could take up to five hours to be confirmed, while some users were also unable to create new Bitcoin, he said. The lag was caused by an update to the payment system's PC software over the weekend or more precisely, it was caused by a disjunction in the versions of software users own. Operators who hadn't updated the software "put the whole system out of whack," the article said. Though the issue is expected to be fixed within a few days, it's not the first time Bitcoin has seen this kind of software problem, Luria said. "I don't know that it's (ever) happened to this extent, because Bitcoin has never been this big," he said. Bitcoin's customer base has increased, with nearly 120,000 transactions occurring a day in early June an increase of 10 times since the same period in 2011, reported Coindesk, a Bitcoin-focused newsdesk. Last week, Coinbase, a B itcoin exchange and wallet provider , waived fees for customers buying with euros due to the Greek Crisis. According to Bloomberg, software updates will be much smoother if companies take more market share from Bitcoin machine hobbyists. "This is test of a decentralized network," Luria said. "Every time Bitcoin passes one of these tests, it gets stronger." Read the original article at Bloomberg> NOW WATCH: Here's what you get when you order 'Omaha Steaks' in the mail More From Business Insider Former DEA agent admits to stealing bitcoins while investigating Silk Road How Greece went bust A Greek politician told us Grexit will '100%' happen if 'No' wins on Sunday and plans are already being made View comments || BTCS Management Cancels Outstanding Options Ahead of Merger: ARLINGTON, VA--(Marketwired - Jul 7, 2015) -Bitcoin Shop, Inc.(OTCQB:BTCS) ("BTCS" or the "Company"), a blockchain technology focused company which secures the blockchain through its transaction verification services business, announced today that its management team has agreed to voluntarily cancel all 12,450,000 of their options, representing all of the Company's outstanding options, ahead of the Company's anticipated merger with Spondoolies-Tech ("Spondoolies").
Charles Allen, Chief Executive Officer of BTCS, commented, "As we continue to progress in our planned merger with Spondoolies, we see the cancellation of our outstanding options as a strategic move that will afford us the opportunity to create a comprehensive plan post-merger that properly addresses all stakeholders involved. We anticipate adopting a new equity incentive plan that will be structured to support our performance-based culture and align with the interests of our shareholders.
During its first year of operation, Spondoolies successfully launched five different hardware products which are widely recognized in their respective categories. Subsequent to its first product launch in March 2014, Spondoolies announced un-audited revenue of more than $28 million for its fiscal year ended December 31, 2014. The pending-merger between Spondoolies and BTCS will leverage the respective expertise of both companies to create a new global leader in the blockchain sector.
About BTCS:BTCS is an early mover in the blockchain and digital currency ecosystems and the only "Pure Play" U.S. public company focused on blockchain technologies. The blockchain is a decentralized public ledger and has the ability to fundamentally impact all industries on a global basis that rely on or utilize record keeping and require trust. BTCS secures the blockchain through its rapidly growing transaction verification services business and plans to build a broader ecosystem to capitalize on opportunities in this fast growing industry. BTCS continues to evaluate and build additional blockchain technology consumer solutions. BTCS also actively partners and integrates with strategic digital currency and blockchain technology companies who provide products or services that are complementary to its business strategy. For more information visit:www.btcs.com
Forward-Looking Statements:Certain statements in this press release, including those related to an anticipated merger, constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company's filings with the Securities and Exchange Commission, not limited to Risk Factors relating to its digital currency business contained therein. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law. || BTCS Management Cancels Outstanding Options Ahead of Merger: ARLINGTON, VA--(Marketwired - Jul 7, 2015) - Bitcoin Shop, Inc. ( OTCQB : BTCS ) ("BTCS" or the "Company"), a blockchain technology focused company which secures the blockchain through its transaction verification services business, announced today that its management team has agreed to voluntarily cancel all 12,450,000 of their options, representing all of the Company's outstanding options, ahead of the Company's anticipated merger with Spondoolies-Tech ("Spondoolies"). Charles Allen, Chief Executive Officer of BTCS, commented, "As we continue to progress in our planned merger with Spondoolies, we see the cancellation of our outstanding options as a strategic move that will afford us the opportunity to create a comprehensive plan post-merger that properly addresses all stakeholders involved. We anticipate adopting a new equity incentive plan that will be structured to support our performance-based culture and align with the interests of our shareholders. During its first year of operation, Spondoolies successfully launched five different hardware products which are widely recognized in their respective categories. Subsequent to its first product launch in March 2014, Spondoolies announced un-audited revenue of more than $28 million for its fiscal year ended December 31, 2014. The pending-merger between Spondoolies and BTCS will leverage the respective expertise of both companies to create a new global leader in the blockchain sector. About BTCS: BTCS is an early mover in the blockchain and digital currency ecosystems and the only "Pure Play" U.S. public company focused on blockchain technologies. The blockchain is a decentralized public ledger and has the ability to fundamentally impact all industries on a global basis that rely on or utilize record keeping and require trust. BTCS secures the blockchain through its rapidly growing transaction verification services business and plans to build a broader ecosystem to capitalize on opportunities in this fast growing industry. BTCS continues to evaluate and build additional blockchain technology consumer solutions. BTCS also actively partners and integrates with strategic digital currency and blockchain technology companies who provide products or services that are complementary to its business strategy. For more information visit: www.btcs.com Forward-Looking Statements: Certain statements in this press release, including those related to an anticipated merger, constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company's filings with the Securities and Exchange Commission, not limited to Risk Factors relating to its digital currency business contained therein. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law. || How To Invest When El Niño Comes Around: This year, El Niño is forecast to upend weather patterns across the world and wreak havoc farmers, especially in regions where access to irrigation is limited. The weather phenomenon is expected to cut down on rainfall in Australian and Southern Asia and create unusually wet weather in parts of South America. The extreme weather conditions have pushed investors to take a closer look into agriculture investments as the difficult growing conditions could lead to price spikes. Wheat Prices of wheat have seen a bump over the past two weeks after worries that El Niño would dry out wheat-producing regions. In Australia, where 14 percent of the world's wheat exports are grown, dryer than expected weather is forecast to significantly cut down on crop yields. The Teucrium Wheat Fund (NYSE: WEAT ) has seen a 10.58 percent rise over the past month in the wake of the commodity's El Niño concerns. Coffee Many investors are turning to coffee to give their portfolio a jolt, especially since both Vietnam and Indonesia are experiencing unusually dry weather. Both nations produce Robusta coffee, which is used in instant coffee and is very sensitive to reduced rainfall. For that reason, ETFs like iPath Bloomberg Coffee Subindex Total Return SM Index ETN (NYSE: JO ) have become popular plays for El Niño investors. Outside Agriculture While agriculture is the most obvious place El Niño will have an impact, other areas of the market could also feel the pressure of unseasonable weather. When El Niño hits, demand for commodities like crude oil and coal typically increases as thermo and hydroelectric power are more difficult to generate. The metals can also be impacted; in Chile wetter than normal weather could cut down on copper mining. See more from Benzinga Fast Food Gets Even Faster In Asia In Oregon, The Holiday Weekend Was Red, White, Blue And Green Bitcoin Glitch Costs Miners Thousands © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || How To Invest When El Niño Comes Around: This year, El Niño isforecastto upend weather patterns across the world and wreak havoc farmers, especially in regions where access to irrigation is limited.
The weather phenomenon is expected to cut down on rainfall in Australian and Southern Asia and create unusually wet weather in parts of South America.
The extreme weather conditions have pushed investors to take a closer look into agriculture investments as the difficult growing conditions could lead to price spikes.
Wheat
Prices of wheat have seen a bump over the past two weeks after worries that El Niño would dry out wheat-producing regions. In Australia, where 14 percent of the world's wheat exports are grown, dryer than expected weather is forecast to significantly cut down on crop yields. TheTeucrium Wheat Fund(NYSE:WEAT) has seen a 10.58 percent rise over the past month in the wake of the commodity's El Niño concerns.
Coffee
Many investors are turning to coffee to give their portfolio a jolt, especially since both Vietnam and Indonesia are experiencing unusually dry weather. Both nations produce Robusta coffee, which is used in instant coffee and is very sensitive to reduced rainfall. For that reason, ETFs likeiPath Bloomberg Coffee Subindex Total Return SM Index ETN(NYSE:JO) have become popular plays for El Niño investors.
Outside Agriculture
While agriculture is the most obvious place El Niño will have an impact, other areas of the market could also feel the pressure of unseasonable weather.
When El Niño hits, demand for commodities like crude oil and coal typically increases as thermo and hydroelectric power are more difficult to generate. The metals can also be impacted; in Chile wetter than normal weather could cut down on copper mining.
See more from Benzinga
• Fast Food Gets Even Faster In Asia
• In Oregon, The Holiday Weekend Was Red, White, Blue And Green
• Bitcoin Glitch Costs Miners Thousands
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Fast Food Gets Even Faster In Asia: McDonald's Corporation (NYSE: MCD ) has had a difficult year as consumer tastes shifted and the restaurant battled criticism over its ingredients and lack of healthy offerings. However, the burger chain has been working to restore its bottom line, especially in China, where the massive population represents a major growth opportunity. Appealing To Their Preferences In an effort to reach Chinese consumers, who are becoming increasingly focused on digital innovation, McDonald's is piloting a new program that will allow customers to pay for their orders on their mobile device, making the process of collecting their meal in-store faster and easier. Custom Burgers The decision to include a mobile payment option in China came after McDonald's unveiled digital kiosks that allow customers to build their own burger using a touch screen machine at two Shanghai locations. By adding state-of-the-art technology to its appeal, McDonald's is hoping to lure in first-time customers who are eager to try something new. Related Link: Bitcoin Glitch Costs Miners Thousands Mobile Payments Take Off While mobile payments are nothing new, in China they are becoming increasingly popular. Online retailer Alibaba Group Holding Ltd (NYSE: BABA ) recently launched a mobile payment system which has been adopted by several big names including Wal-Mart Corp (NYSE: WMT ) and Yum Brands Inc. (NYSE: YUM )'s KFC food chain. Since Chinese customers have historically shied away from using credit cards, mobile payments has become a major draw. Customers have been looking for a fast, convenient way to pay and mobile options are providing that experience. See more from Benzinga FIFA Sponsors Weigh Up The Cost Of Scandal McDonald's Back In The Firing Line Over Happy Meal Ad © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Fast Food Gets Even Faster In Asia: McDonald's Corporation(NYSE:MCD) has had a difficult year as consumer tastes shifted and the restaurant battled criticism over its ingredients and lack of healthy offerings.
However, the burger chain has been working to restore its bottom line, especially in China, where the massive population represents a major growth opportunity.
Appealing To Their Preferences
In an effort to reach Chinese consumers, who are becoming increasingly focused on digital innovation, McDonald's ispilotinga new program that will allow customers to pay for their orders on their mobile device, making the process of collecting their meal in-store faster and easier.
Custom Burgers
The decision to include a mobile payment option in China came after McDonald's unveiled digital kiosks that allow customers to build their own burger using a touch screen machine at two Shanghai locations. By adding state-of-the-art technology to its appeal, McDonald's is hoping to lure in first-time customers who are eager to try something new.
Related Link:Bitcoin Glitch Costs Miners Thousands
Mobile Payments Take Off
While mobile payments are nothing new, in China they are becoming increasingly popular.
Online retailerAlibaba Group Holding Ltd(NYSE:BABA) recently launched a mobile payment system which has been adopted by several big names includingWal-Mart Corp(NYSE:WMT) andYum Brands Inc.(NYSE:YUM)'s KFC food chain.
Since Chinese customers have historically shied away from using credit cards, mobile payments has become a major draw. Customers have been looking for a fast, convenient way to pay and mobile options are providing that experience.
See more from Benzinga
• FIFA Sponsors Weigh Up The Cost Of Scandal
• McDonald's Back In The Firing Line Over Happy Meal Ad
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || In Oregon, The Holiday Weekend Was Red, White, Blue And Green: On Friday, people in Oregon celebrated the state's legalization of recreational marijuana use. The state's more relaxed drug policy went into effect on Wednesday, though retail sales of the stuff isn't set to be allowed until next year. To get around rules barring the sale of recreational marijuana, cannabis enthusiasts organized and event called " Weed the People " on July 3 at which growers, artists, producers and anyone involved in the field could show off and offer samples of their latest offerings. Big Draw The event drew around 1,400 participants who were willing to pay a $40 entrance fee in order to sample the various cannabis-themed products inside. As the state won't accept applications for recreational sales permits until January, pot companies are using events like this one to get their products into the hands of consumers. Growers at the event offered free samples of their strains and artists sold hand-made glass pipes with which to smoke it. Related Link: Get Your Greens: Farm-To-Table Marijuana Shifting Tides The event signaled a shifting tide in the U.S. as more and more consumers call for legalized marijuana. While recreational marijuana is still outlawed in most U.S. states, places like Colorado and Oregon have proven that there is a demand for a recreational marijuana market. Not only has it become a part of mainstream culture, but the marijuana industry is poised to bring in thousands of tax dollars for local governments as it grows. See more from Benzinga Bitcoin Glitch Costs Miners Thousands What Does Greece Do Now? What's Next In Greece: Will Tsipras Stay And Will We See A Grexit? © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || In Oregon, The Holiday Weekend Was Red, White, Blue And Green: On Friday, people in Oregon celebrated the state's legalization of recreational marijuana use.
The state's more relaxed drug policy went into effect on Wednesday, though retail sales of the stuff isn't set to be allowed until next year.
To get around rules barring the sale of recreational marijuana, cannabis enthusiasts organized and event called "Weed the People" on July 3 at which growers, artists, producers and anyone involved in the field could show off and offer samples of their latest offerings.
Big Draw
The event drew around 1,400 participants who were willing to pay a $40 entrance fee in order to sample the various cannabis-themed products inside.
As the state won't accept applications for recreational sales permits until January, pot companies are using events like this one to get their products into the hands of consumers. Growers at the event offered free samples of their strains and artists sold hand-made glass pipes with which to smoke it.
Related Link:Get Your Greens: Farm-To-Table Marijuana
Shifting Tides
The event signaled a shifting tide in the U.S. as more and more consumers call for legalized marijuana. While recreational marijuana is still outlawed in most U.S. states, places like Colorado and Oregon have proven that there is a demand for a recreational marijuana market.
Not only has it become a part of mainstream culture, but the marijuana industry is poised to bring in thousands of tax dollars for local governments as it grows.
See more from Benzinga
• Bitcoin Glitch Costs Miners Thousands
• What Does Greece Do Now?
• What's Next In Greece: Will Tsipras Stay And Will We See A Grexit?
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Bitcoin Glitch Costs Miners Thousands: This weekend, bitcoin miners suffered a setback after it was revealed that those running some software clients which were out of date were creating invalid blocks, or transaction records. The glitch gave miners the impression that they had earned bitcoins for adding to blockchain, when in actuality, the invalid blocks weren't accepted. Warning Bitcoin.org issued a warning regarding the invalid blocks over the weekend. The notice said that an initial invalid block has been built upon by other miners, who don't fully validate their blocks. The practice, called Simple Payment Verification (SPV) mining, has caused several large mining operations to loose more than $50,000 dollars in mining income so far due to the glitch. Related Link: Minecraft Teaches Kids To Use Bitcoin To combat the problem, Bitcoin.org recommended that all miners update to the latest software to ensure that the invalid blocks are detected. The site also encouraged those using Web-based wallets to make sure they are using the most up-to-date version as well. How Did It Happen SPV mining means that the verification of new blocks relies on a connection to a trusted node. However, since the software was unable to detect invalid blocks, it allowed miners to continue building strings of blocks on top of an invalid one, rendering all of them worthless. Effects? While the effects of this glitch appear to be concentrated on mining firms, some worry that it could refuel worries about bitcoin's safety and security. The cryptocurrency already has a reputation for being unreliable and many fear that this incident will contribute to that stigma. See more from Benzinga What Does Greece Do Now? What's Next In Greece: Will Tsipras Stay And Will We See A Grexit? Sealed Air Just Took Away A Guilty Pleasure For Millions © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Bitcoin Glitch Costs Miners Thousands: This weekend, bitcoin miners suffered a setback after it wasrevealedthat those running some software clients which were out of date were creating invalid blocks, or transaction records.
The glitch gave miners the impression that they had earned bitcoins for adding to blockchain, when in actuality, the invalid blocks weren't accepted.
Warning
Bitcoin.org issued awarningregarding the invalid blocks over the weekend. The notice said that an initial invalid block has been built upon by other miners, who don't fully validate their blocks. The practice, called Simple Payment Verification (SPV) mining, has caused several large mining operations to loose more than $50,000 dollars in mining income so far due to the glitch.
Related Link: Minecraft Teaches Kids To Use Bitcoin
To combat the problem, Bitcoin.org recommended that all miners update to the latest software to ensure that the invalid blocks are detected. The site also encouraged those using Web-based wallets to make sure they are using the most up-to-date version as well.
How Did It Happen
SPV mining means that the verification of new blocks relies on a connection to a trusted node. However, since the software was unable to detect invalid blocks, it allowed miners to continue building strings of blocks on top of an invalid one, rendering all of them worthless.
Effects?
While the effects of this glitch appear to be concentrated on mining firms, some worry that it could refuel worries about bitcoin's safety and security. The cryptocurrency already has a reputation for being unreliable and many fear that this incident will contribute to that stigma.
See more from Benzinga
• What Does Greece Do Now?
• What's Next In Greece: Will Tsipras Stay And Will We See A Grexit?
• Sealed Air Just Took Away A Guilty Pleasure For Millions
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Bitcoin Glitch Costs Miners Thousands: This weekend, bitcoin miners suffered a setback after it wasrevealedthat those running some software clients which were out of date were creating invalid blocks, or transaction records.
The glitch gave miners the impression that they had earned bitcoins for adding to blockchain, when in actuality, the invalid blocks weren't accepted.
Warning
Bitcoin.org issued awarningregarding the invalid blocks over the weekend. The notice said that an initial invalid block has been built upon by other miners, who don't fully validate their blocks. The practice, called Simple Payment Verification (SPV) mining, has caused several large mining operations to loose more than $50,000 dollars in mining income so far due to the glitch.
Related Link: Minecraft Teaches Kids To Use Bitcoin
To combat the problem, Bitcoin.org recommended that all miners update to the latest software to ensure that the invalid blocks are detected. The site also encouraged those using Web-based wallets to make sure they are using the most up-to-date version as well.
How Did It Happen
SPV mining means that the verification of new blocks relies on a connection to a trusted node. However, since the software was unable to detect invalid blocks, it allowed miners to continue building strings of blocks on top of an invalid one, rendering all of them worthless.
Effects?
While the effects of this glitch appear to be concentrated on mining firms, some worry that it could refuel worries about bitcoin's safety and security. The cryptocurrency already has a reputation for being unreliable and many fear that this incident will contribute to that stigma.
See more from Benzinga
• What Does Greece Do Now?
• What's Next In Greece: Will Tsipras Stay And Will We See A Grexit?
• Sealed Air Just Took Away A Guilty Pleasure For Millions
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Costas Inc. Is Pleased to Present Its Position on the Financial Technology Space: NEW YORK, NY--(Marketwired - Jul 6, 2015) - Costas Inc. ( OTC PINK : CSSI ) Costas Inc. (CSSI) or "Costas" has focused over the last year and invested heavily in Distributed Asset Technology; "DAT" is the systemic foundation to what is now known as Digital Currency "DC". DC has taken the world by storm and created a new class of asset. Quite simply, the world economy has evolved from gold and silver as the only accepted form of payment to paper currency and now DC has started to weave itself into the fabric of our global economy. The public generally associates DC with the market's preferred digital coin, Bitcoin. Bitcoin and its peers, have fascinating properties that Costas strongly believes will accelerate the speed at which a store of value can move regionally and/or globally. Decentralized currency without borders is now a viable option for consumers. DC and the institutions that bridge the gap between merchants, consumers and investors stand to capitalize exponentially as investment floods into the space. There are very few opportunities in the realm of DC available to investors through public markets. Investment in the space, to most, is out of reach apart from purchasing DC coins. Costas intends to create a portfolio of diverse DC businesses under its umbrella. Costas will offer a unique opportunity to invest in a cross-section of companies in what The Company believes is the most exciting investment vehicle made available in decades. Costas will acquire companies in full, or a take a significant position in a variety of companies, then facilitate their growth. Costas is also open to creating businesses by putting capable people together, giving them an equity stake and capitalizing them. In the event that there is no pre-existing company with whom to partner, Costas would create its own company to fill that investment vacuum. We are actively searching for strong innovative leaders with an entrepreneurial spirit to either join our board of directors or to offer their services to targets we are looking to acquire and thereby incentivizing them to partner with Costas. Story continues Costas, through its relationships, has the ability to raise capital for the companies it chooses to acquire or create. The management at Costas has built relationships with investment groups that focus on funding, incubating and growing potential business ventures. This network spans the globe and truly has very few limits. We feel confident we can pair any opportunity with the appropriate funds and management, preparing them for their entry into any competitive market. Safe Harbor Act Notice: Statements contained herein that are not historical facts are forward-looking statements within the meaning of the Securities Act of 1933, as amended. Those statements include statements regarding the intent, belief or current expectations of the company and its management. Such statements reflect management's current views, are based on certain assumptions and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including, but not limited to, the company's ability to obtain additional financing and the demand for the company's products. Any investment in the company would be extremely speculative and involve a high degree of risk and should not be pursued unless the investor could afford to lose their entire investment. Before investing, please review this filing, all past public filings with the SEC, all current Pinksheets.com filings and consult a registered broker dealer or contact the financial industry regulatory authority ("FINRA") for more information regarding locating a qualified party to assist in making an investment decision. The company undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in the company's expectations with regard to these forward-looking statements or the occurrence of unanticipated events. Factors that may impact the company's success are more fully disclosed in the company's most recent public filings with the U.S. Securities and Exchange Commission. Forward-looking statements are typically identified by the use of terms such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "might," "plan," "predict," "project," "should," "will," and similar words, although some forward-looking statements are expressed differently. Although we believe that the expectations reflected in such forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct. About Costas Inc. Costas Inc. is a publicly traded company focused on investing in and incubating promising digital currency-based businesses and entrepreneurs by providing access to a global infrastructure of financial and legal professionals and investment groups. Costas identifies "Fintech" emerging companies that, with some incubation and professional experience, will become the next standard in banking, commercial trading and lending. || Costas Inc. Is Pleased to Present Its Position on the Financial Technology Space: NEW YORK, NY--(Marketwired - Jul 6, 2015) - Costas Inc. (OTC PINK:CSSI) Costas Inc. (CSSI) or "Costas" has focused over the last year and invested heavily in Distributed Asset Technology; "DAT" is the systemic foundation to what is now known as Digital Currency "DC". DC has taken the world by storm and created a new class of asset. Quite simply, the world economy has evolved from gold and silver as the only accepted form of payment to paper currency and now DC has started to weave itself into the fabric of our global economy.
The public generally associates DC with the market's preferred digital coin, Bitcoin. Bitcoin and its peers, have fascinating properties that Costas strongly believes will accelerate the speed at which a store of value can move regionally and/or globally. Decentralized currency without borders is now a viable option for consumers. DC and the institutions that bridge the gap between merchants, consumers and investors stand to capitalize exponentially as investment floods into the space.
There are very few opportunities in the realm of DC available to investors through public markets. Investment in the space, to most, is out of reach apart from purchasing DC coins. Costas intends to create a portfolio of diverse DC businesses under its umbrella. Costas will offer a unique opportunity to invest in a cross-section of companies in what The Company believes is the most exciting investment vehicle made available in decades.
Costas will acquire companies in full, or a take a significant position in a variety of companies, then facilitate their growth. Costas is also open to creating businesses by putting capable people together, giving them an equity stake and capitalizing them. In the event that there is no pre-existing company with whom to partner, Costas would create its own company to fill that investment vacuum. We are actively searching for strong innovative leaders with an entrepreneurial spirit to either join our board of directors or to offer their services to targets we are looking to acquire and thereby incentivizing them to partner with Costas.
Costas, through its relationships, has the ability to raise capital for the companies it chooses to acquire or create. The management at Costas has built relationships with investment groups that focus on funding, incubating and growing potential business ventures. This network spans the globe and truly has very few limits. We feel confident we can pair any opportunity with the appropriate funds and management, preparing them for their entry into any competitive market.
Safe Harbor Act Notice:
Statements contained herein that are not historical facts are forward-looking statements within the meaning of the Securities Act of 1933, as amended. Those statements include statements regarding the intent, belief or current expectations of the company and its management. Such statements reflect management's current views, are based on certain assumptions and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including, but not limited to, the company's ability to obtain additional financing and the demand for the company's products. Any investment in the company would be extremely speculative and involve a high degree of risk and should not be pursued unless the investor could afford to lose their entire investment. Before investing, please review this filing, all past public filings with the SEC, all current Pinksheets.com filings and consult a registered broker dealer or contact the financial industry regulatory authority ("FINRA") for more information regarding locating a qualified party to assist in making an investment decision. The company undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in the company's expectations with regard to these forward-looking statements or the occurrence of unanticipated events. Factors that may impact the company's success are more fully disclosed in the company's most recent public filings with the U.S. Securities and Exchange Commission. Forward-looking statements are typically identified by the use of terms such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "might," "plan," "predict," "project," "should," "will," and similar words, although some forward-looking statements are expressed differently. Although we believe that the expectations reflected in such forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct.
About Costas Inc.
Costas Inc. is a publicly traded company focused on investing in and incubating promising digital currency-based businesses and entrepreneurs by providing access to a global infrastructure of financial and legal professionals and investment groups. Costas identifies "Fintech" emerging companies that, with some incubation and professional experience, will become the next standard in banking, commercial trading and lending. || Switching to the drachma will be a nightmare for Greece: drachma (Pictoscribe - Home again on flickr) Switching back to the drachma would be chaotic if Greece has to ditch euros. The country will hold a crucial referendum on Sunday. Millions of citizens will vote "Yes" or "No" on whether their government should accept a set of conditions that would unlock a fresh bailout program from euro-area creditors, and inject cash into the economy. A "No" vote would leave Greece without emergency funding, the inability to continue to pay pensions, and could lead to further defaults down the road. It could also mean ditching the euro as a currency and going back to the drachma. A Bloomberg report on Saturday notes that recent instances where countries adopted new currencies (like the launch of physical euros in 2002) took several years of planning, and the support of the majority of citizens. These two things aren't guaranteed for Greece. The government has said it would retain the euro in the event of a "No" vote. But as Bloomberg notes, Greece's banking system relies on support from the European Central Bank that could be removed if the country votes "No." And so, if Greece votes to reject creditors' proposals, it may be forced to revert to its old currency. In an interview on Australian public radio Thursday, Greek finance minister Yanis Varoufakis said the country "smashed the printing presses" when it joined the euro. This was to demonstrate that the newly formed monetary union was permanent and not an experiment. Bloomberg reports that the government still has a press in Athens that prints euros. But switching to a new currency could take anywhere between six months and two years. Apart from the logistical challenges, the drachma would likely start out very weak against the euro and other major currencies. A report by Greece's Kathimerini newspaper on Saturday indicates that interest in Bitcoin has surged to hedge against a weak drachma in the event of a switch. And so, while the government is advocating a "No" vote with Greece remaining in the euro, the economic realities of that decision may mean the drachma makes a painful comeback. Head over to Bloomberg for the full story » NOW WATCH: 13 'all-American' foods that foreigners find completely gross More From Business Insider Greek banks are down to their final 500 million euros Here are the markets most exposed to the crisis in Greece And now the euro is surging View comments || Switching to the drachma will be a nightmare for Greece: (Pictoscribe - Home again on flickr)
Switching back to the drachma would be chaotic if Greece has to ditch euros.
The country will hold a crucial referendum on Sunday.Millions of citizens will vote "Yes" or "No" on whether their government should accept a set of conditions that would unlock a fresh bailout program from euro-area creditors, and inject cash into the economy.
A "No" vote would leave Greece without emergency funding, the inability to continue to pay pensions, andcould lead to further defaults down the road.
It could also mean ditching the euro as a currency and going back to the drachma.
ABloomberg report on Saturdaynotes that recent instances where countries adopted new currencies (like the launch of physical euros in 2002) took several years of planning, and the support of the majority of citizens.
These two things aren't guaranteed for Greece.
The government has said it would retain the euro in the event of a "No" vote. But as Bloomberg notes, Greece's banking system relies on support from the European Central Bank that could be removed if the country votes "No."
And so, if Greece votes to reject creditors' proposals, it may be forced to revert to its old currency.
In aninterview on Australian public radioThursday, Greek finance minister Yanis Varoufakis said the country "smashed the printing presses" when it joined the euro.
This was to demonstrate that the newly formed monetary union was permanent and not an experiment.
Bloomberg reports that the government still has a press in Athens that prints euros. But switching to a new currency could take anywhere between six months and two years.
Apart from the logistical challenges, the drachma would likely start out very weak against the euro and other major currencies.
A report by Greece'sKathimerininewspaper on Saturday indicates that interest in Bitcoin has surged to hedge against a weak drachma in the event of a switch.
And so, while the government is advocating a "No" vote with Greece remaining in the euro, the economic realities of that decision may mean the drachma makes a painful comeback.
Head over to Bloomberg for the full story »
NOW WATCH:13 'all-American' foods that foreigners find completely gross
More From Business Insider
• Greek banks are down to their final 500 million euros
• Here are the markets most exposed to the crisis in Greece
• And now the euro is surging || The thrilling life of a Kleiner Perkins fellow, where you go to sailboat parties and hear presentations by Silicon Valleys power players: 994866_586226841415626_1124324708_n (Kleiner Perkins) The KPCB fellows on a boat in San Francisco Bay. Roneil Rumburg, 22, is one of the youngest partners at Kleiner Perkins Caufield & Byers (KPCB), the iconic Silicon Valley VC firm founded in 1972. He joined the firm in April 2015, and now runs the Edge Fund, a seed-stage fund focused on emerging technologies like drones and virtual reality. But for Rumburg, a Stanford computer science grad, being a full-time VC was never part of his career plan, until just recently. If you had asked me 6 months ago if I would be here right now, I would have never guessed, Rumburg told Business Insider. So how did he get there? Rumburg took a rather uncommon, roundabout path which involved founding a not-so-successful bitcoin startup along the way. But he says a big reason for it is KPCB's summer fellowship program he took two years ago, where he was able to get his feet wet in the tech startup world and build strong relationships with KPCBs management team. My pre-existing relationship with Kleiner made it a lot easier for me to fit into this role, Rumburg said. The KPCB fellowship program gives college students a chance to intern at one of its portfolio companies, while providing a string of exclusive events and unfettered access to the firms leadership team. Its also one of the countrys most competitive fellowship/internship programs to get into: Only 84 fellows out of roughly 2,500 applicants were accepted this year. KPCB's fellowship isn't intended to nurture the next VCs of the world Rumburgs case is a rare one, as the program is designed for students pursuing careers in engineering, design, or product management. But in any case, the value of the program is clear: a unique opportunity to experience Silicon Valley's thriving tech culture and learn from some of the most powerful tech leaders in the world. Not just an internship Being a KPCB fellow doesnt mean you get to work at the firm. Instead, you become an intern at one of Kleiners portfolio companies, such as Uber, Flipboard, or Square (Slack will also be available from next year). Story continues The best part about it is all the exclusive events you get invited to. KPCB puts together a long-list of events only offered to the fellows throughout the three month program, such as a special dinner with its general partner John Doerr or a presentation by Nest cofounder Matt Rogers. There are also weekend excursions to a nearby island or kayak trips. "We probably had 2-3 events a week, and a weekend event which tended to be the fun, sailing trips. During the week, we'd visit Kleiner portfolio companies or go to dinners with partners like Mike Abbott," Rumburg said. The fellowship also helps KPCB's own portfolio companies. By putting the KPCB brand behind it, the fellowship program can help recruit some of the country's most talented students for startups that may not necessarily have the brand recognition of its bigger competitors. "If you're a student deciding between Google versus one of our portfolio companies, it's not that comparison anymore. It's Google versus KPCB's fellowship program," KPCB's partner Andy Chen, who leads the fellowship program told us. How to get in RRumburgHighRes (Kleiner Perkins) Roneil Rumburg was a 2013 fellow, and now runs the Edge Fund at KPCB. The fellowship offers three different tracks: engineering, design, or product management. Depending on which program you apply for, you get asked a different set of questions. Rumburg, who was an engineering fellow, said the application process was pretty standard with some questions about an engineering problem. Chen said product management fellows have to upload a video explaining a product that they like. Once you get past the first round, you do a more technical interview with a team leader of a KPCB portfolio company. Those who make it past this second round are the finalists, which usually amount to about 100 people, Chen told us. The finalists are then given a choice to pick from five Kleiner portfolio companies they'd like to work for. They go through a round of interview with each of those companies, and only the ones given an offer from them get into the fellowship program. The fellows don't get paid by KPCB, but the companies they end up interning at. That means the terms of compensation differ for each fellow depending on who they work for. In most cases, KPCB says they're individually negotiated. John Doerr (Michael Seto/Business Insider) Kleiner Perkins General Partner John Doerr Meeting John Doerr and Mary Meeker John Doerr and Mary Meeker, two of the most powerful KPCB partners, also make sure they get connected to the fellows. Doerr, for example, does an intimate Q&A session over dinner with the fellows, where he answers all kinds of questions, from investment and stock tips to even some personal ones. "He puts all the questions on the board and answers them one-by-one, all 84 fellows," Chen says. Meeker also gives a special presentation of her famous "Internet Trends" report, and spends hours afterwards to answer questions individually. "She stayed past 10PM just chatting with us. Getting her kind of off the record and hearing the unfiltered stuff, that was really cool," Rumburg said. Other presenters include Uber's Chief Product Officer Jeff Holden, Facebook's VP of Product Chris Cox, and Flipboard's VP of Design Marcos Weskamp. Star CEOs like Slack's Stewart Butterfield and Sportify's Daniel Ek were also available during this year's welcome reception. "One of the big things I took away from the fellowship was it kind of humanized all of these people you read and hear about," Rumburg says. "It was kind of surreal to be there, chatting with Mary Meeker, but she's actually just a super normal person." Stephanie He, a Princeton computer science grad, who interned at Square as part of the fellowship program last year, echoed the same sentiment. "People like John Doerr can seem intimidating at first, because theyre legendary in Silicon Valley, but theyre all very accessible, engaging with the fellows," she tells us. Life after the fellowship AChenHighRes (Kleiner Perkins) KPCB partner Andy Chen runs the fellowship program Rumburg, the KPCB partner, was an engineering intern at a cloud infrastructure startup called Nebula during his fellowship in 2013. Although Nebula went out of business earlier this year, Rumburg says the whole fellowship experience was so inspiring that it convinced him to finish college a year early and start his own Bitcoin startup called Backslash. Backslash didn't pan out the way he'd expected, but Rumberg's experience as an engineer and founder led KPCB to reach out to him with a VC position. "Roneil [Rumburg] was part of the program, and he kept in close touch with the team here, and that relationship enabled him to bounce into Edge," Chen says. "The Edge Fund team immediately thought of Roneil because they had that long-standing relationship." For Stephanie He, the 2014 fellow who interned at Square, it was about getting that startup experience and gaining the confidence to join a young company. She will start working at an early stage startup called Flux Factory this year. "I never had a chance to work at a startup before KPCB. If youre interested in exploring startups, then I highly recommend the fellowship program." Chen says 90% of the fellows end up receiving job offers from the companies they interned at. In some cases, like Rumberg, the fellows go on to become VCs or even launch their own startup. If you want to have the best bang for the buck, where you can meet the best people, work at the best company, and have the best experience, I think the fellowship program offers all of that, Chen said. NOW WATCH: Forget the Apple Watch here's the new watch everyone on Wall Street wants More From Business Insider Microsoft has a strange new mission statement 11 impossible tech interview questions you don't want to be asked How Mark Zuckerberg helps his friend, the CEO of $10 billion Dropbox || The thrilling life of a Kleiner Perkins fellow, where you go to sailboat parties and hear presentations by Silicon Valley’s power players: (Kleiner Perkins)The KPCB fellows on a boat in San Francisco Bay.Roneil Rumburg, 22, is one of the youngest partners at Kleiner Perkins Caufield & Byers (KPCB), the iconic Silicon Valley VC firm founded in 1972.
He joined the firm in April 2015, and now runs the Edge Fund, a seed-stage fund focused on emerging technologies like drones and virtual reality.
But for Rumburg, a Stanford computer science grad, being a full-time VC was never part of his career plan, until just recently.
“If you had asked me 6 months ago if I would be here right now, I would have never guessed,” Rumburg told Business Insider.
So how did he get there? Rumburg took a rather uncommon, roundabout path — which involved founding a not-so-successful bitcoin startup along the way. But he says a big reason for it is KPCB's summer fellowship program he took two years ago, where he was able to get his feet wet in the tech startup world and build strong relationships with KPCB’s management team.
“My pre-existing relationship with Kleiner made it a lot easier for me to fit into this role,” Rumburg said.
The KPCB fellowship program gives college students a chance to intern at one of its portfolio companies, while providing a string of exclusive events and unfettered access to the firm’s leadership team. It’s also one of the country’s most competitive fellowship/internship programs to get into: Only 84 fellows out of roughly 2,500 applicants were accepted this year.
KPCB's fellowship isn't intended to nurture the next VCs of the world — Rumburg’s case is a rare one, as the program is designed for students pursuing careers in engineering, design, or product management. But in any case, the value of the program is clear: a unique opportunity to experience Silicon Valley's thriving tech cultureand learn from some of the most powerful tech leaders in the world.
Being a KPCB fellow doesn’t mean you get to work at the firm.
Instead, you become an intern at one of Kleiner’s portfolio companies, such as Uber, Flipboard, or Square (Slack will also be available from next year).
The best part about it is all the exclusive events you get invited to. KPCB puts together a long-list of events — only offered to the fellows — throughout the three month program, such as a special dinner with its general partner John Doerr or a presentation by Nest cofounder Matt Rogers. There are also weekend excursions to a nearby island or kayak trips.
"We probably had 2-3 events a week, and a weekend event which tended to be the fun, sailing trips. During the week, we'd visit Kleiner portfolio companies or go to dinners with partners like Mike Abbott," Rumburg said.
The fellowship also helps KPCB's own portfolio companies. By putting the KPCB brand behind it, the fellowship program can help recruit some of the country's most talented students for startups that may not necessarily have the brand recognition of its bigger competitors.
"If you're a student deciding between Google versus one of our portfolio companies, it's not that comparison anymore. It's Google versus KPCB's fellowship program," KPCB's partner Andy Chen, who leads the fellowship program told us.
(Kleiner Perkins)Roneil Rumburg was a 2013 fellow, and now runs the Edge Fund at KPCB.
The fellowship offers three different tracks: engineering, design, or product management. Depending on which program you apply for, you get asked a different set of questions.
Rumburg, who was an engineering fellow, said the application process was pretty standard with some questions about an engineering problem. Chen said product management fellows have to upload a video explaining a product that they like.
Once you get past the first round, you do a more technical interview with a team leader of a KPCB portfolio company. Those who make it past this second round are the finalists, which usually amount to about 100 people, Chen told us.
The finalists are then given a choice to pick from five Kleiner portfolio companies they'd like to work for. They go through a round of interview with each of those companies, and only the ones given an offer from them get into the fellowship program.
The fellows don't get paid by KPCB, but the companies they end up interning at.That means the terms of compensation differ for each fellow depending on who they work for. In most cases, KPCB says they're individually negotiated.
(Michael Seto/Business Insider)Kleiner Perkins General Partner John Doerr
John Doerr and Mary Meeker, two of the most powerful KPCB partners, also make sure they get connected to the fellows.
Doerr, for example, does an intimate Q&A session over dinner with the fellows, where he answers all kinds of questions,from investment and stock tips to even some personal ones. "He puts all the questions on the board and answers them one-by-one, all 84 fellows," Chen says.
Meeker also gives a special presentation of her famous "Internet Trends" report, and spends hours afterwards to answer questions individually. "She stayed past 10PM just chatting with us. Getting her kind of off the record and hearing the unfiltered stuff, that was really cool," Rumburg said.
Other presenters include Uber's Chief Product Officer Jeff Holden, Facebook's VP of Product Chris Cox, and Flipboard's VP of Design Marcos Weskamp. Star CEOs like Slack's Stewart Butterfield and Sportify's Daniel Ek were also available during this year's welcome reception.
"One of the big things I took away from the fellowship was it kind of humanized all of these people you read and hear about," Rumburg says. "It was kind of surreal to be there, chatting with Mary Meeker, but she's actually just a super normal person."
Stephanie He, a Princeton computer science grad, who interned at Square as part of the fellowship program last year, echoed the same sentiment. "People like John Doerr can seem intimidating at first, because they’re legendary in Silicon Valley, but they’re all very accessible, engaging with the fellows," she tells us.
(Kleiner Perkins)KPCB partner Andy Chen runs the fellowship program
Rumburg, the KPCB partner, was an engineering intern at a cloud infrastructure startup called Nebula during his fellowship in 2013.
Although Nebulawent out of businessearlier this year, Rumburg says the whole fellowship experience was so inspiring that it convinced him to finish college a year early and start his own Bitcoin startup called Backslash.
Backslash didn't pan out the way he'd expected, but Rumberg's experience as an engineer and founder led KPCB to reach out to him with a VC position.
"Roneil [Rumburg] was part of the program, and he kept in close touch with the team here, and that relationship enabled him to bounce into Edge," Chen says. "The Edge Fund team immediately thought of Roneil because they had that long-standing relationship."
For Stephanie He, the 2014 fellow who interned at Square, it was about getting that startup experience and gaining the confidence to join a young company. She will start working at an early stage startup called Flux Factory this year.
"I never had a chance to work at a startup before KPCB. If you’re interested in exploring startups, then I highly recommend the fellowship program."
Chen says 90% of the fellows end up receiving job offers from the companies they interned at. In some cases, like Rumberg, the fellows go on to become VCs or even launch their own startup.
“If you want to have the best bang for the buck, where you can meet the best people, work at the best company, and have the best experience, I think the fellowship program offers all of that,” Chen said.
NOW WATCH:Forget the Apple Watch — here's the new watch everyone on Wall Street wants
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• Microsoft has a strange new mission statement
• 11 impossible tech interview questions you don't want to be asked
• How Mark Zuckerberg helps his friend, the CEO of $10 billion Dropbox
[Social Media Buzz]
Bitcoin traded at $262.3 USD on BTC-e at 11:00 PM Pacific Time || buysellbitco.in #bitcoin price in INR, Buy : 17043.00 INR Sell : 16521.00 INR. Buy and sell bitcoin in #India using #buysellbitcoin || #RDD / #BTC on the exchanges:
Cryptsy: Error
Bittrex: 0.00000006
Average $1.6E-5 per #reddcoin
19:00:01 || In the last 10 mins, there were arb opps spanning 22 exchange pair(s), yielding profits ranging between $0.00 and $1,559.56 #bitcoin #btc || Bitcoin traded at $268.29 USD on BTC-e at 07:00 AM ...
|
269.23, 284.89, 293.11, 310.87, 292.05, 287.46, 285.83, 278.09, 279.47, 274.90
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Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 818.41, 821.80, 831.53, 907.94, 886.62, 899.07, 895.03, 921.79, 924.67, 921.01, 892.69, 901.54, 917.59, 919.75, 921.59, 919.50, 920.38, 970.40, 989.02, 1011.80, 1029.91, 1042.90, 1027.34, 1038.15, 1061.35, 1063.07, 994.38, 988.67, 1004.45, 999.18, 990.64, 1004.55, 1007.48, 1027.44, 1046.21, 1054.42, 1047.87, 1079.98, 1115.30, 1117.44, 1166.72, 1173.68, 1143.84, 1165.20, 1179.97, 1179.97, 1222.50, 1251.01, 1274.99, 1255.15, 1267.12, 1272.83, 1223.54, 1150.00, 1188.49, 1116.72, 1175.83, 1221.38, 1231.92, 1240.00, 1249.61, 1187.81, 1100.23, 973.82, 1036.74, 1054.23, 1120.54, 1049.14, 1038.59, 937.52, 972.78, 966.72, 1045.77, 1047.15, 1039.97, 1026.43, 1071.79, 1080.50, 1102.17, 1143.81, 1133.25, 1124.78, 1182.68, 1176.90, 1175.95, 1187.87, 1187.13, 1205.01, 1200.37, 1169.28.
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[Bitcoin Technical Analysis for 2017-04-13]
Volume: 351968992, RSI (14-day): 55.61, 50-day EMA: 1111.10, 200-day EMA: 931.33
[Wider Market Context]
Gold Price: 1285.90, Gold RSI: 72.90
Oil Price: 53.18, Oil RSI: 65.83
[Recent News (last 7 days)]
What US ETF Market Looks Like Today: It was just 24 years ago that the first ETF, the SPDR S&P 500 (SPY) , came to market—ETF No. 1. Now, with 51 new ETF launches having already occurred this year, we are about to hit a milestone: 2,000 ETFs listed in the U.S. These funds already command more assets than hedge funds in an asset base that grows about 20-25% yearly. With nearly $3 trillion in assets in U.S.-listed ETFs alone, some are already projecting the size of the market to double by 2020. If you talk to those who were part of the ETF industry’s early days—people like State Street Global Advisors’ Jim Ross and iShares’ former head Lee Kranefuss , you get a sense that no one would have guessed ETFs would take off as they did, and reinvent the way investors access the market. “The growth of ETFs in U.S. capital markets is a textbook case study in ‘Disruptive Innovation,’ right alongside well-known historical examples like Amazon, Google, Facebook, Netflix and scores of others successful enterprises,” ConvergEx Nick Colas said in a commentary this week. “It is no exaggeration to say that there are more ETFs than investable stocks listed on U.S. exchanges.” Today’s market definitely looks very different from its early days. The era of plain-vanilla products designed around well-known equity indices is giving way to a wave of innovation that has ETFs tapping into broad, diverse and niche pockets through various strategies today. Here’s a broad overview of the market’s makeup, with data courtesy of FactSet: Asset Class Equity ETFs dominate in numbers and in assets. Roughly 70% of all U.S.-listed ETFs are equity funds—or some 1,385 ETFs in the market today. These U.S. and/or international equity ETFs have about $2.2 trillion in combined assets. That amounts to 78% of all U.S.-listed ETF assets, or nearly $8 out of every $10 invested in ETFs today. Investors have plenty of choices when it comes to equity ETF exposures. The biggest of these funds are all focused on U.S. stocks, led by SPY, with $233 billion in assets. IVV comes at No. 2, with $103 billion; and VTI at No. 3, with $76 billion. Those three ETFs alone represent about 25% of assets specifically in U.S. equity ETFs, and 19% of all assets tied to equity ETFs, either domestic or international. Story continues Fixed income ETFs —the second-largest asset class in this industry—command about $490 billion in total assets, the bulk of which is in U.S. fixed-income funds. This is a segment of the market that’s still growing. There are only 317 fixed-income ETFs on the market today, which represents about 16% of all U.S. ETF listings. Many see fixed income as a still-opening-up frontier for more ETF innovation. The remainder of the market is split into smaller slices: Alternatives ETFs represent about 2.6% of the total market; asset allocation ETFs 2.2%; commodity ETFs 5.7%; and currency ETFs 1.5% of the total number of U.S. ETF listings. Smart-Beta ETFs Market-cap-weighted strategies were the first, and remain the largest number of, funds in the market. But it’s smart-beta funds that are driving asset growth and product innovation. Smart beta goes by many names—some call it strategic beta, fundamental indexing, factor investing and more. But the ETFs in this category are simply rules-based strategies that aim to deliver better risk-adjusted returns than traditional market-cap-weighted indexes. They apply different selection screens, and weight securities in different ways to deliver a spectrum of results. Today there are roughly 800 smart-beta ETFs on the market—that’s four out of every 10 ETFs in the market—and funds falling under this rubric represented roughly half of the ETFs that launched last year. Among equity ETFs, nearly half are some flavor of smart beta today. In the fixed-income space, where active management is still widely accepted, smart beta has been slower to find a following—only about 9% of all fixed-income ETFs today are smart-beta funds. Costs ETFs have always been known for their low cost, and ongoing fee compression keeps pushing price tags lower. The cheapest ETFs on the market today carry a mere 0.03% expense ratio—that’s $3 per $10,000 invested. They are: Schwab U.S. Broad Market ETF (SCHB) Schwab U.S. Large-Cap ETF (SCHX) iShares Core S&P Total U.S. Stock Market ETF (ITOT) These are all vanilla strategies, and as the market moves more toward smart-beta approaches, expense ratios have averaged higher because the more complex a fund is, the more it usually costs. But even in the smart-beta segment, fee compression is real. The cheapest smart-beta ETFs today have 0.04% expense ratios—a pair of Schwab growth and value funds that use a multifactor selection process to pick securities, which are then market-cap-weighted in the portfolios. Most ETFs today have expense ratios between 0.3% and 1.0%. But there are funds that come with hefty expense ratios. There are 22 ETFs that have expense ratios of more than 2%, and the most expensive ETF has an ER of 9.20%—that’s $920 per $10,000 invested. It’s the VanEck Vectors BDC Income ETF (BIZD) . ETF Issuers Roughly 82% of all U.S.-listed ETF assets are managed by three single ETF issuers—BlackRock’s iShares, Vanguard and State Street Global Advisors. iShares’s dominance is uncontested, as the firm alone commands about $1 trillion of all ETF assets in the U.S. But there are a growing number of ETF issuers, with new firms looking for ways to join the bandwagon as investors demand access to the ETF wrapper. Today we count nearly 80 ETF issuers in all, each trying to find their niche in a market that’s increasingly diverse. At the end of the day, the number of ETF launches—which outpaces ETF closures year after year—and the continued entry of these new ETF players, suggest that 2,000 ETFs with nearly $3 trillion in the U.S. alone may very well be just the beginning for this “disruptive innovation” of an industry. Contact Cinthia Murphy at cmurphy@etf.com Recommended Stories Bogle’s Recipe For Active Manager Survival Don’t Choose An ETF Based On Fees Alone Socially Responsible Dividends In An ETF Running An Index ETF Is Harder Than It Looks SEC To Review Decision Denying Bitcoin ETF Permalink | © Copyright 2017 ETF.com. All rights reserved || What US ETF Market Looks Like Today: It was just 24 years ago that the first ETF, theSPDR S&P 500 (SPY), came to market—ETF No. 1.
Now, with 51 new ETF launches having already occurred this year, we are about to hit a milestone: 2,000 ETFs listed in the U.S.
These funds already command more assets than hedge funds in an asset base that grows about 20-25% yearly. With nearly $3 trillion in assets in U.S.-listed ETFs alone, some are already projecting the size of the market to double by 2020.
If you talk to those who were part of the ETF industry’s early days—people likeState Street Global Advisors’ Jim RossandiShares’ former head Lee Kranefuss, you get a sense that no one would have guessed ETFs would take off as they did, and reinvent the way investors access the market.
“The growth of ETFs in U.S. capital markets is a textbook case study in ‘Disruptive Innovation,’ right alongside well-known historical examples like Amazon, Google, Facebook, Netflix and scores of others successful enterprises,” ConvergEx Nick Colas said in a commentary this week. “It is no exaggeration to say that there are more ETFs than investable stocks listed on U.S. exchanges.”
Today’s market definitely looks very different from its early days. The era of plain-vanilla products designed around well-known equity indices is giving way to a wave of innovation that has ETFs tapping into broad, diverse and niche pockets through various strategies today.
Here’s a broad overview of the market’s makeup, with data courtesy of FactSet:
Asset Class
Equity ETFsdominate in numbers and in assets. Roughly 70% of all U.S.-listed ETFs are equity funds—or some 1,385 ETFs in the market today. These U.S. and/or international equity ETFs have about $2.2 trillion in combined assets. That amounts to 78% of all U.S.-listed ETF assets, or nearly $8 out of every $10 invested in ETFs today.
Investors have plenty of choices when it comes to equity ETF exposures.
The biggest of these funds are all focused on U.S. stocks, led by SPY, with $233 billion in assets.IVVcomes at No. 2, with $103 billion; andVTIat No. 3, with $76 billion. Those three ETFs alone represent about 25% of assets specifically in U.S. equity ETFs, and 19% of all assets tied to equity ETFs, either domestic or international.
Fixed income ETFs—the second-largest asset class in this industry—command about $490 billion in total assets, the bulk of which is in U.S. fixed-income funds. This is a segment of the market that’s still growing.
There are only 317 fixed-income ETFs on the market today, which represents about 16% of all U.S. ETF listings. Many see fixed income as a still-opening-up frontier for more ETF innovation.
The remainder of the market is split into smaller slices:Alternatives ETFsrepresent about 2.6% of the total market;asset allocation ETFs2.2%;commodity ETFs5.7%; andcurrency ETFs1.5% of the total number of U.S. ETF listings.
Smart-Beta ETFs
Market-cap-weighted strategies were the first, and remain the largest number of, funds in the market. But it’s smart-beta funds that are driving asset growth and product innovation.
Smart beta goes by many names—some call it strategic beta, fundamental indexing, factor investing and more. But the ETFs in this category are simply rules-based strategies that aim to deliver better risk-adjusted returns than traditional market-cap-weighted indexes. They apply different selection screens, and weight securities in different ways to deliver a spectrum of results.
Today there are roughly800 smart-beta ETFson the market—that’s four out of every 10 ETFs in the market—and funds falling under this rubric represented roughly half of the ETFs that launched last year. Among equity ETFs, nearly half are some flavor of smart beta today. In the fixed-income space, where active management is still widely accepted, smart beta has been slower to find a following—only about 9% of all fixed-income ETFs today are smart-beta funds.
Costs
ETFs have always been known for their low cost, and ongoing fee compression keeps pushing price tags lower.
The cheapest ETFs on the market today carry a mere 0.03% expense ratio—that’s $3 per $10,000 invested. They are:
• Schwab U.S. Broad Market ETF (SCHB)
• Schwab U.S. Large-Cap ETF (SCHX)
• iShares Core S&P Total U.S. Stock Market ETF (ITOT)
These are all vanilla strategies, and as the market moves more toward smart-beta approaches, expense ratios have averaged higher because the more complex a fund is, the more it usually costs. But even in the smart-beta segment, fee compression is real.
The cheapest smart-beta ETFs today have 0.04% expense ratios—a pair of Schwab growth and value funds that use a multifactor selection process to pick securities, which are then market-cap-weighted in the portfolios.
Most ETFs today have expense ratios between 0.3% and 1.0%. But there are funds that come with hefty expense ratios. There are 22 ETFs that have expense ratios of more than 2%, and the most expensive ETF has an ER of 9.20%—that’s $920 per $10,000 invested. It’s theVanEck Vectors BDC Income ETF (BIZD).
ETF Issuers
Roughly 82% of all U.S.-listed ETF assets are managed by three single ETF issuers—BlackRock’s iShares, Vanguard and State Street Global Advisors. iShares’s dominance is uncontested, as the firm alone commands about $1 trillion of all ETF assets in the U.S.
But there are a growing number of ETF issuers, with new firms looking for ways to join the bandwagon as investors demand access to the ETF wrapper.
Today we count nearly 80ETF issuersin all, each trying to find their niche in a market that’s increasingly diverse.
At the end of the day, the number of ETF launches—which outpaces ETF closures year after year—and the continued entry of these new ETF players, suggest that 2,000 ETFs with nearly $3 trillion in the U.S. alone may very well be just the beginning for this “disruptive innovation” of an industry.
Contact Cinthia Murphy atcmurphy@etf.com
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Permalink| © Copyright 2017ETF.com.All rights reserved || Humaniq, Blockchain Financial Platform for the Unbanked, Appoints CEO and 20 Members to Global Advisory Board: LONDON, UNITED KINGDOM--(Marketwired - Apr 12, 2017) - Humaniq (https://humaniq.co/), the blockchain financial platform offering financial inclusion solutions for the unbanked, today announced its executive leadership and advisory board, helping guide the company through its current token sale and the development of its mobile banking app that will support Humaniq's humanitarian initiative.
"Humaniq is a disruptive tech platform innovation for good. We are a solution to a global problem," said Alex Fork, President and co-Founder of Humaniq. "More than half the world lives on less than $2.50 a day and more than 80 percent of the world's population lives in countries where income differentials are widening. Humaniq will help reverse these trends and bring people out of poverty by giving them banking tools that are easy to understand. Humaniq will provide liquidity for entrepreneurial ventures via loans, online work and crypto-financing as well as helping to create new opportunities in the digital economy, locally, nationally and internationally. With the appointment of our new CEO we are ready to capitalize on these opportunities immediately."
Dinis Guarda has been appointed as CEO of Humaniq. Guarda is an entrepreneur and author with a strong background in international management, blockchain and financial inclusion, who has previously founded the successful ventures Ztudium, intelligenthq.com and Tradingfloor.com.
Alex Fork, who founded Humaniq in 2016 to help lift the unbanked out of poverty in emerging economies, now serves as President and Leading Visionary of Humaniq. Fork previously founded the Future Fintech Accelerator and authored the book "Bitcoin: More than money."
"We strongly believe that the heart, humanity and experience represented on this team will be the driving force behind Humaniq's success," said Dinis Guarda, CEO of Humaniq.
"We have already raised over $3M for our token sale in just three days," added Guarda.
"With our strong team and advisory board as our foundation, we look forward to building the new world of financial inclusion, industry 4.0 and education together with Humaniq," Guarda explained.
The Humaniq executive leadership team consists of:
• Alex Fork,President and Co-Founder of Humaniq and Leading Visionary, Luxembourg.
• Dinis Guarda, CEO of Humaniq, UK.
• Dmitry Kaminskiy, Co-Founder and Executive Chairman of Humaniq, UK.
• Richard Kastelein, Chief Marketing Officer, Netherlands.
The Humaniq advisory board consists of twenty leaders from around the world with diverse backgrounds in global policy, public affairs, technology, science, blockchain and education:
• Nick Ayton, Technology Advisory Board / 21 Million Project, UK
• Karl Hoods, Policy and Legal Advisor, Save the Children, London, UK
• Pavel Kravchenko, Technology/Blockchain Advisor, Ukraine
• Michael Terpin, Technology Advisor/Transform Group, San Juan, Puerto Rico.
• Chami Akmeemana, Technology Advisor/Policy and Legal advisory board / Advisor for regulator, Ontario Securities Commission (OSC), Australia
• Matt McKibbin, Technology Advisor/Crypto Economy, US
• Ron Morris, Scientific Advisor/Education/Universities Advisor, Director Groupe INSEEC San Francisco, US
• Derin Cag, Advisor Chief Influencer Officer, Founder of Richtopia.com, UK
• Tim Campbell MBE, Public Affairs and Global Policy advisory, UK
• Alex Bausch, Technology Advisory Board / Co-Chairman of the Blockchain Ecosystem Network, Netherlands
• Matthias Klees, Technology Advisor / Bitcoinsulting, Szenekonzept, Germany
• Iggy Bassy, Policy and Legal advisory board / Social Impact and AI, Data expert, Founder Cervest UK
• Paul Mears, Policy and Financial Risk advisory board / Currency International Payments advisor, Monaco
• Vishai Mishra, Technology advisory board / Big Data and Security, Rightrelevance.com, US
• David Applefield, Public Affairs and Global Policy Advisor/Communications and PR Advisor, FT Special Rep for Africa, France.
• Jochen Heussner, Chief Financial Officer / Legal and Financial Investment Advisor EU, Founder Planetcompliance.com, Italy
• Alexander Perkins, Legal and Financial Investment Advisor, USA
• Alakanani Itireleng, Africa [leading] Ambassador, Botswana
• Dickson Nsofor, Technology and Policy advisor, New York branch lead, United Nations relations, US
• Maria Fonseca, Evangelist and Thought Leader, Editor Intelligenthq.com, UK.
Humaniq is currently hosting a public Token Sale to fund its Blockchain banking app for financial inclusion. The ICO reached 1706 Bitcoin, 2,030,037.64 US Dollars in its first day.
"This project is much beyond crypto-currencies. This is a social good movement gathering the best people in the world focused on converting the most advanced tech for sustainable development in the undeveloped world. Now, with this enhanced advisory board, the Humaniq project will be able to address governments and global non-profit organizations. The technological tool to tackle down the main challenges facing the 2 billion unbanked people has arrived. Humaniq will create deep impact for social good on a global scale," said Dmitry Kaminskiy, co-founder of Humaniq and managing partner of Deep Knowledge Ventures.
To learn more and to participate, visit:https://my.humaniq.co/?roistat_visit=103423.
About Humaniq:Humaniq is an Ethereum-based blockchain banking app building the next generation model for financial services. Launched in 2016, Humaniq aims to provide mobile finance to the 2 billion unbanked population through its mobile app that uses biometric authentication to replace traditional methods of ID and security. Humaniq's open source stack and API will be available for startups and other businesses to build services on its core technology, making it easy to adapt their service and plug it into Humaniq's network to reach a huge, untapped audience. For more information, visithttps://humaniq.co/. || Humaniq, Blockchain Financial Platform for the Unbanked, Appoints CEO and 20 Members to Global Advisory Board: LONDON, UNITED KINGDOM--(Marketwired - Apr 12, 2017) - Humaniq ( https://humaniq.co/ ), the blockchain financial platform offering financial inclusion solutions for the unbanked, today announced its executive leadership and advisory board, helping guide the company through its current token sale and the development of its mobile banking app that will support Humaniq's humanitarian initiative. "Humaniq is a disruptive tech platform innovation for good. We are a solution to a global problem," said Alex Fork, President and co-Founder of Humaniq. "More than half the world lives on less than $2.50 a day and more than 80 percent of the world's population lives in countries where income differentials are widening. Humaniq will help reverse these trends and bring people out of poverty by giving them banking tools that are easy to understand. Humaniq will provide liquidity for entrepreneurial ventures via loans, online work and crypto-financing as well as helping to create new opportunities in the digital economy, locally, nationally and internationally. With the appointment of our new CEO we are ready to capitalize on these opportunities immediately." Dinis Guarda has been appointed as CEO of Humaniq. Guarda is an entrepreneur and author with a strong background in international management, blockchain and financial inclusion, who has previously founded the successful ventures Ztudium, intelligenthq.com and Tradingfloor.com. Alex Fork, who founded Humaniq in 2016 to help lift the unbanked out of poverty in emerging economies, now serves as President and Leading Visionary of Humaniq. Fork previously founded the Future Fintech Accelerator and authored the book "Bitcoin: More than money." "We strongly believe that the heart, humanity and experience represented on this team will be the driving force behind Humaniq's success," said Dinis Guarda, CEO of Humaniq. "We have already raised over $3M for our token sale in just three days," added Guarda. "With our strong team and advisory board as our foundation, we look forward to building the new world of financial inclusion, industry 4.0 and education together with Humaniq," Guarda explained. Story continues The Humaniq executive leadership team consists of: Alex Fork , President and Co-Founder of Humaniq and Leading Visionary, Luxembourg. Dinis Guarda, CEO of Humaniq, UK. Dmitry Kaminskiy, Co-Founder and Executive Chairman of Humaniq, UK. Richard Kastelein, Chief Marketing Officer, Netherlands. The Humaniq advisory board consists of twenty leaders from around the world with diverse backgrounds in global policy, public affairs, technology, science, blockchain and education: Nick Ayton, Technology Advisory Board / 21 Million Project, UK Karl Hoods, Policy and Legal Advisor, Save the Children, London, UK Pavel Kravchenko, Technology/Blockchain Advisor, Ukraine Michael Terpin, Technology Advisor/Transform Group, San Juan, Puerto Rico. Chami Akmeemana, Technology Advisor/Policy and Legal advisory board / Advisor for regulator, Ontario Securities Commission (OSC), Australia Matt McKibbin, Technology Advisor/Crypto Economy, US Ron Morris, Scientific Advisor/Education/Universities Advisor, Director Groupe INSEEC San Francisco, US Derin Cag, Advisor Chief Influencer Officer, Founder of Richtopia.com, UK Tim Campbell MBE, Public Affairs and Global Policy advisory, UK Alex Bausch, Technology Advisory Board / Co-Chairman of the Blockchain Ecosystem Network, Netherlands Matthias Klees, Technology Advisor / Bitcoinsulting, Szenekonzept, Germany Iggy Bassy, Policy and Legal advisory board / Social Impact and AI, Data expert, Founder Cervest UK Paul Mears, Policy and Financial Risk advisory board / Currency International Payments advisor, Monaco Vishai Mishra, Technology advisory board / Big Data and Security, Rightrelevance.com, US David Applefield, Public Affairs and Global Policy Advisor/Communications and PR Advisor, FT Special Rep for Africa, France. Jochen Heussner, Chief Financial Officer / Legal and Financial Investment Advisor EU, Founder Planetcompliance.com, Italy Alexander Perkins, Legal and Financial Investment Advisor, USA Alakanani Itireleng, Africa [leading] Ambassador, Botswana Dickson Nsofor, Technology and Policy advisor, New York branch lead, United Nations relations, US Maria Fonseca, Evangelist and Thought Leader, Editor Intelligenthq.com, UK. Humaniq is currently hosting a public Token Sale to fund its Blockchain banking app for financial inclusion. The ICO reached 1706 Bitcoin, 2,030,037.64 US Dollars in its first day. "This project is much beyond crypto-currencies. This is a social good movement gathering the best people in the world focused on converting the most advanced tech for sustainable development in the undeveloped world. Now, with this enhanced advisory board, the Humaniq project will be able to address governments and global non-profit organizations. The technological tool to tackle down the main challenges facing the 2 billion unbanked people has arrived. Humaniq will create deep impact for social good on a global scale," said Dmitry Kaminskiy, co-founder of Humaniq and managing partner of Deep Knowledge Ventures. To learn more and to participate, visit: https://my.humaniq.co/?roistat_visit=103423 . About Humaniq: Humaniq is an Ethereum-based blockchain banking app building the next generation model for financial services. Launched in 2016, Humaniq aims to provide mobile finance to the 2 billion unbanked population through its mobile app that uses biometric authentication to replace traditional methods of ID and security. Humaniq's open source stack and API will be available for startups and other businesses to build services on its core technology, making it easy to adapt their service and plug it into Humaniq's network to reach a huge, untapped audience. For more information, visit https://humaniq.co/ . || Bitcoin value rises over $1 billion as Japan, Russia move to legitimize cryptocurrency: Bitcoin(Exchange: BTC=-USS)is up nearly $100 in the past week, hitting levels not seen since mid-March after Japan legalized the cryptocurrency as a payment method and Russia is seeking to regulate it too.
The digital currency was trading at around $1,223.04 at the time of publication, up from highs of $1,124.88 on April 5, and hitting prices not seen since March 16, according to Coindesk data. Bitcoin's market capitalization has risen from $18.34 billion on April 5, to $19.5 billion on Wednesday, according to Coinmarketcap.com data.
Bitcoin has suffered a recent dip in price thanks to a debate over thefuture of its underlying technology, but the recent support appears to have come from Japan.
Earlier this month, Japan began accepting bitcoin as legal currency with major retailers backing the new law. Consumer electronics retailing giant Bic Camera began accepting bitcoin last week.
Bitcoin trading in Japanese yen is the second-most liquid market globally, according to data compiled by cryptocurrency trading platform Gatecoin.
"The Japan virtual currency act has likely had a major impact, as there has been a lot of buzz in Japanese media over the ruling over the last few months," Aurélien Menant, founder and CEO of Gatecoin, told CNBC by email.
At the same time, Russia, one of the strongest opponents of bitcoin is seeking to regulate the digital currency. Russian Deputy Finance Minister Alexey Moiseev told Bloomberg in an interview this week that the authorities hope to recognize bitcoin and other cryptocurrencies as a legal financial instrument in 2018 in a bid to tackle money laundering.
"The state needs to know who at every moment of time stands on both sides of the financial chain," Moiseev told Bloomberg.
"If there's a transaction, the people who facilitate it should understand from whom they bought and to whom they were selling, just like with bank operations."
Increasing state regulation around bitcoin could make the cryptocurrency an attractive investment for investors who previously shied away from it due to the high risk and price swings.
More From CNBC
• Adyen, the firm that processes payments for Uber, Netflix, saw 2016 revenues rise 99%
• India’s mobile market is seeing a huge shift but Apple might not benefit for a while
• Another Apple supplier tanks amid fears it could lose its key contract || Bitcoin value rises over $1 billion as Japan, Russia move to legitimize cryptocurrency: Bitcoin (Exchange: BTC=-USS) is up nearly $100 in the past week, hitting levels not seen since mid-March after Japan legalized the cryptocurrency as a payment method and Russia is seeking to regulate it too. The digital currency was trading at around $1,223.04 at the time of publication, up from highs of $1,124.88 on April 5, and hitting prices not seen since March 16, according to Coindesk data. Bitcoin's market capitalization has risen from $18.34 billion on April 5, to $19.5 billion on Wednesday, according to Coinmarketcap.com data. Bitcoin has suffered a recent dip in price thanks to a debate over the future of its underlying technology , but the recent support appears to have come from Japan. Earlier this month, Japan began accepting bitcoin as legal currency with major retailers backing the new law. Consumer electronics retailing giant Bic Camera began accepting bitcoin last week. Bitcoin trading in Japanese yen is the second-most liquid market globally, according to data compiled by cryptocurrency trading platform Gatecoin. "The Japan virtual currency act has likely had a major impact, as there has been a lot of buzz in Japanese media over the ruling over the last few months," Aurélien Menant, founder and CEO of Gatecoin, told CNBC by email. At the same time, Russia, one of the strongest opponents of bitcoin is seeking to regulate the digital currency. Russian Deputy Finance Minister Alexey Moiseev told Bloomberg in an interview this week that the authorities hope to recognize bitcoin and other cryptocurrencies as a legal financial instrument in 2018 in a bid to tackle money laundering. "The state needs to know who at every moment of time stands on both sides of the financial chain," Moiseev told Bloomberg. "If there's a transaction, the people who facilitate it should understand from whom they bought and to whom they were selling, just like with bank operations." Increasing state regulation around bitcoin could make the cryptocurrency an attractive investment for investors who previously shied away from it due to the high risk and price swings. More From CNBC Adyen, the firm that processes payments for Uber, Netflix, saw 2016 revenues rise 99% Indias mobile market is seeing a huge shift but Apple might not benefit for a while Another Apple supplier tanks amid fears it could lose its key contract || Bitcoin value rises over $1 billion as Japan, Russia move to legitimize cryptocurrency: Bitcoin(Exchange: BTC=-USS)is up nearly $100 in the past week, hitting levels not seen since mid-March after Japan legalized the cryptocurrency as a payment method and Russia is seeking to regulate it too.
The digital currency was trading at around $1,223.04 at the time of publication, up from highs of $1,124.88 on April 5, and hitting prices not seen since March 16, according to Coindesk data. Bitcoin's market capitalization has risen from $18.34 billion on April 5, to $19.5 billion on Wednesday, according to Coinmarketcap.com data.
Bitcoin has suffered a recent dip in price thanks to a debate over thefuture of its underlying technology, but the recent support appears to have come from Japan.
Earlier this month, Japan began accepting bitcoin as legal currency with major retailers backing the new law. Consumer electronics retailing giant Bic Camera began accepting bitcoin last week.
Bitcoin trading in Japanese yen is the second-most liquid market globally, according to data compiled by cryptocurrency trading platform Gatecoin.
"The Japan virtual currency act has likely had a major impact, as there has been a lot of buzz in Japanese media over the ruling over the last few months," Aurélien Menant, founder and CEO of Gatecoin, told CNBC by email.
At the same time, Russia, one of the strongest opponents of bitcoin is seeking to regulate the digital currency. Russian Deputy Finance Minister Alexey Moiseev told Bloomberg in an interview this week that the authorities hope to recognize bitcoin and other cryptocurrencies as a legal financial instrument in 2018 in a bid to tackle money laundering.
"The state needs to know who at every moment of time stands on both sides of the financial chain," Moiseev told Bloomberg.
"If there's a transaction, the people who facilitate it should understand from whom they bought and to whom they were selling, just like with bank operations."
Increasing state regulation around bitcoin could make the cryptocurrency an attractive investment for investors who previously shied away from it due to the high risk and price swings.
More From CNBC
• Adyen, the firm that processes payments for Uber, Netflix, saw 2016 revenues rise 99%
• India’s mobile market is seeing a huge shift but Apple might not benefit for a while
• Another Apple supplier tanks amid fears it could lose its key contract || Bitcoin miners have collectively earned more than $2 billion: An interior view of U.S. bitcoin mining company Bitfury's mining farm near Keflavik Bitcoin mining has become a multi-billion dollar industry. Bitcoin miners have collectively earned over $2 billion in revenue since the cryptocurrency was established in 2008, according to an estimate from a new report published by the Cambridge Centre for Alternative Finance. Nearly every way the United incident could have ended differentlyin one flowchart Bitcoin mining is how transactions on the bitcoin network get processed. Transactions in bitcoin are bundled into blocks, and its the job of miners to confirm those blocks are legitimate. This happens when a miner successfully solves a cryptographic puzzle attached to each block, gaining a payout called the block reward. This payout halves every four years; the current reward is 12.5 bitcoins per block, or $15,350 at todays prices. The twist is this: miners must compete with one another with greater computational power to solve the puzzle and win the payout. These incentives have led to a massive increase in complexity and need for computational power. In bitcoins early days, people mined the cryptocurrency on their home computers. Today, server farms of thousands of custom-designed machines around the world compete with one another to solve the puzzle first. Revenues generated by the bitcoin mining sector could be significantly higher, the report says. The estimate only accounts for revenues earned from block rewards and fees paid by bitcoin users for having their transactions processed. It doesnt include revenue from selling mining equipment, or providing cloud mining services, which let subscribers share in block rewards for a fee, without having to operate their own equipment. United Airlines has exposed the moral dilemma behind rewarding customer loyalty Importantly, the estimate doesnt account for capital gains from cashing out of bitcoin strategically, since the researchers assumed block rewards were immediately converted to US dollars. Those gains could be substantial, since bitcoin has been on a historic bull run . Story continues Transaction fees have historically been a small part of miners revenue, but theyve shot up this year as the number of transactions gets closer to the bitcoin networks limit. Users are willing to pay higher fees to ensure their transactions are processed by miners. The question of how to raise the limit is at the heart of the civil war that has divided the bitcoin world. As bitcoin adoption grows, miners are prospering. Read this next: Bitcoins civil war threatens to blow up the cryptocurrency itself Sign up for the Quartz Daily Brief , our free daily newsletter with the worlds most important and interesting news. More stories from Quartz: Choose your spouse wisely: Life advice for IIM-A grads from the chief of Axis Bank Heres the best way to guess correctly on a multiple choice test || Bitcoin miners have collectively earned more than $2 billion: An interior view of U.S. bitcoin mining company Bitfury's mining farm near Keflavik Bitcoin mining has become a multi-billion dollar industry. Bitcoin miners have collectively earned over $2 billion in revenue since the cryptocurrency was established in 2008, according to an estimate from a new report published by the Cambridge Centre for Alternative Finance. Nearly every way the United incident could have ended differentlyin one flowchart Bitcoin mining is how transactions on the bitcoin network get processed. Transactions in bitcoin are bundled into blocks, and its the job of miners to confirm those blocks are legitimate. This happens when a miner successfully solves a cryptographic puzzle attached to each block, gaining a payout called the block reward. This payout halves every four years; the current reward is 12.5 bitcoins per block, or $15,350 at todays prices. The twist is this: miners must compete with one another with greater computational power to solve the puzzle and win the payout. These incentives have led to a massive increase in complexity and need for computational power. In bitcoins early days, people mined the cryptocurrency on their home computers. Today, server farms of thousands of custom-designed machines around the world compete with one another to solve the puzzle first. Revenues generated by the bitcoin mining sector could be significantly higher, the report says. The estimate only accounts for revenues earned from block rewards and fees paid by bitcoin users for having their transactions processed. It doesnt include revenue from selling mining equipment, or providing cloud mining services, which let subscribers share in block rewards for a fee, without having to operate their own equipment. United Airlines has exposed the moral dilemma behind rewarding customer loyalty Importantly, the estimate doesnt account for capital gains from cashing out of bitcoin strategically, since the researchers assumed block rewards were immediately converted to US dollars. Those gains could be substantial, since bitcoin has been on a historic bull run . Story continues Transaction fees have historically been a small part of miners revenue, but theyve shot up this year as the number of transactions gets closer to the bitcoin networks limit. Users are willing to pay higher fees to ensure their transactions are processed by miners. The question of how to raise the limit is at the heart of the civil war that has divided the bitcoin world. As bitcoin adoption grows, miners are prospering. Read this next: Bitcoins civil war threatens to blow up the cryptocurrency itself Sign up for the Quartz Daily Brief , our free daily newsletter with the worlds most important and interesting news. More stories from Quartz: Choose your spouse wisely: Life advice for IIM-A grads from the chief of Axis Bank Heres the best way to guess correctly on a multiple choice test || Bitcoin miners have collectively earned more than $2 billion: An interior view of U.S. bitcoin mining company Bitfury's mining farm near Keflavik Bitcoin mining has become a multi-billion dollar industry. Bitcoin miners have collectively earned over $2 billion in revenue since the cryptocurrency was established in 2008, according to an estimate from a new report published by the Cambridge Centre for Alternative Finance. Nearly every way the United incident could have ended differentlyin one flowchart Bitcoin mining is how transactions on the bitcoin network get processed. Transactions in bitcoin are bundled into blocks, and its the job of miners to confirm those blocks are legitimate. This happens when a miner successfully solves a cryptographic puzzle attached to each block, gaining a payout called the block reward. This payout halves every four years; the current reward is 12.5 bitcoins per block, or $15,350 at todays prices. The twist is this: miners must compete with one another with greater computational power to solve the puzzle and win the payout. These incentives have led to a massive increase in complexity and need for computational power. In bitcoins early days, people mined the cryptocurrency on their home computers. Today, server farms of thousands of custom-designed machines around the world compete with one another to solve the puzzle first. Revenues generated by the bitcoin mining sector could be significantly higher, the report says. The estimate only accounts for revenues earned from block rewards and fees paid by bitcoin users for having their transactions processed. It doesnt include revenue from selling mining equipment, or providing cloud mining services, which let subscribers share in block rewards for a fee, without having to operate their own equipment. United Airlines has exposed the moral dilemma behind rewarding customer loyalty Importantly, the estimate doesnt account for capital gains from cashing out of bitcoin strategically, since the researchers assumed block rewards were immediately converted to US dollars. Those gains could be substantial, since bitcoin has been on a historic bull run . Story continues Transaction fees have historically been a small part of miners revenue, but theyve shot up this year as the number of transactions gets closer to the bitcoin networks limit. Users are willing to pay higher fees to ensure their transactions are processed by miners. The question of how to raise the limit is at the heart of the civil war that has divided the bitcoin world. As bitcoin adoption grows, miners are prospering. Read this next: Bitcoins civil war threatens to blow up the cryptocurrency itself Sign up for the Quartz Daily Brief , our free daily newsletter with the worlds most important and interesting news. More stories from Quartz: Choose your spouse wisely: Life advice for IIM-A grads from the chief of Axis Bank Heres the best way to guess correctly on a multiple choice test || The David Pogue Review: Windows 10 Creators Update: I don’t even understand the concept ofWindows 10 Creators Update, which you can download starting Tuesday, April 11.
In 2015, Microsoft (MSFT) announced that Windows 10 would be thelast named version of Windowsever. That thereafter, the company wouldn’t release huge megalithic new versions, as it always had before—it would, instead, trickle out improvements and new features as they were ready, piece by piece. “Windows will be delivered as a service, bringing new innovations and updates in an ongoing manner,” the company said.
Well, so much for that. Apparently, we’re back on the annual schedule.
The other baffling element is the name: Creators Update. As it turns out, most of the features that would have justified that title never saw the light of day. Evidently Microsoft figured it couldn’t have them ready in time for its big 2017 update,and abandoned them.
For example, there was supposed to be a cool app that would let you wave your phone around an object and automatically generate a 3-D model of it on the screen. There was supposed to be an app called Groove Music, something along the lines of Apple’s GarageBand. Thepromised People baron the taskbar never materialized, either.
So what did make the cut? Lots of stuff that keeps up with other operating systems, and lots of small refinements. Here’s an overview.
• Anew columnin the Start menu. Microsoft has moved the icons for Power (containing the Restart, Shut Down, and Sleep commands), Settings, File Explorer (new desktop window) icon, and Personal (containing “Change account settings,” “Lock,” and “sign out”). Instead of clogging up the main Start menu, they now appear in a special, skinny vertical stack of buttons at its far left. As a result, the main (middle) Start menu column lists only apps. This is good stuff.
• Hide the apps.On the other hand, you can hide that list of apps, so that the entire Start menu is made of tiles. (You do that in Settings -> Personalize -> Start.)
• Foldersin the tiled area of your Start menu. Just drag one tile atop another to create a new folder. You’ve just created a tile that, when clicked, sprouts tiles showing its contents. Another win for common sense.
• Control Panelis gone from the Start menu contextual menu. That’s anunenhancement for most people.
• Action Center updates.Volume and brightness sliders now appear in the Action Center, saving you a click or two every time you tweak them.
• Dynamic lock.If you pair your smartphone (even an iPhone) with your PC using Bluetooth and turn this feature on, then the PC locks automatically when you walk away with your phone. It takes about 30 seconds for the computer to notice that you’re gone, so it’s not what you’d call Fort Knox security. But it’s better than no safety net at all.
• Privacy settingsfor your apps’ access to your location, calendar, typing, and so on are now listed individually. OK, fine.
• More control overaccent colors(title bars, Start menu, taskbar, action center); for example, you can specify any color you like. You’re no longer limited to a handful of shades.
• Downloadable themes(desktop wallpaper photos with associated color schemes) in the Microsoft Store.
• Night Lightchanges the screen tones from blue to warmer ones, on the theory that blue light messes up your sleep juice before bed.
• In Settings -> Apps and features,you can now restrict Windows 10 to running apps that came from the Windows Store—and, in theory, have been proven to be safe by Microsoft. (See also: Gatekeeper on the Mac.)
• Microsoft’s voice assistant now understands yourrequests for recurring reminders. So you can say, for example, “Remind me every Friday at 5 p.m. to buy the party pizza,” or “Remind me about my anniversary once a year.”
• More commands.You can now turn off, lock, restart, or sleep your PC computer with a voice command to Cortana. You can also adjust your computer’s playback volume by voice, and play/pause/skip tracks from the iHeartRadio and TuneIn apps. You can even ask Cortana, “What song is this?”
• More appscan respond to Cortana commands, including Netflix (NFLX), Hulu, Twitter (TWTR), Pandora (P), and so on. (Here’s the complete list.) To learn what commands an app can understand, type its name into Cortana.
• Full-screen Cortana.Once you’ve left your PC unused for at least 10 seconds, you can say, “Hey, Cortana” to see Cortana’s full-screen mode, where text is big enough to read from across the room.
• You can alsonavigate the Windows 10 setup processby voice.
• Save sets of tabsfor later re-use.
• Tab previews!Point to a tab without clicking to see a miniature of the window it represents. Or click the little down-arrow button to see thumbnails of all of them at once.
• No Flashon unknown websites.
• You canread ebooksfrom Microsoft’s new ebooks store (or other ePub-format documents) right in the browser. You can adjust the font, type size, or page color, and even have it read aloud to you.
• Paint 3Dis one of the few pieces left of the grand 3-D vision that Microsoft originally defined for the Creators Update. It’s a simple app that lets you create 3-D shapes by combining, turning, and resizing basic spheres, cones, rectangles, and so on.
• If your PC has a touchscreen, and you have a stylus, you can draw a path in the Maps app; the app tells you itsreal-world distance.
• The newTraffic Check iconin Maps produces an estimate of the driving time to your work address, if you’ve recorded it.
• Draw or write on photos and videosin the Photos app, using your finger or a stylus. (If you write on a video, your writing will appear during playback at that spot.)
• New filtersin the Photos app.
• More “Insights” inSticky Notes. The Sticky Notes app spot data types like fight numbers, email and web addresses, phone numbers, and stock abbreviations. Once those items turn blue, you can click them to produce a related command button. For example, click a phone number to see a Call button, or a date to see an Add Reminder button.
• An evolving Settings app.There’s now a page called Apps, where you’ll find all of your programs’ settings. The redesigned System -> Display page has been reorganized. On the Devices -> Bluetooth & Other Devices page, you now get a single screen to manage all of your peripherals.
• TheStorage Space feature, if you turn it on, monitors your PC and automatically deletes temporary files and empties the Recycle Bin after 30 days.
• Centralized troubleshooter. In Settings -> Update & security -> Troubleshoot, Microsoft has assembled icons for all of Windows’s troubleshooting wizards in one place.
• A revampedsecurity center, with a one-click Fresh Start button that reinstalls Windows when things are really messed up. (Unfortunately, this new app is called Windows Defender Security Center, which is not the same thing as the regular Windows Defender anti-malware app. Confusing.)
• Specify longer work days,of up to 18 hours (“Active hours”), during which Windows will never restart to install an update.
• Game Modeis supposed to give you better frame rates (smoother game animation) by dedicating more PC resources to your game, but most people report the difference isn’t noticeable.
• Beam:you can now broadcast the games you’re playing live to the internet, and interact with your admirers.
• A new Share menu.Now, if you want to send a page (or other material) to someone else, you have to look for Windows’s special Share icon. There’s no longer a Share panel on the side of the screen, and the Windows+H keystroke is dead.
• Copy screenshot.Press Windows key+Shift+S to copy a rectangular area of your screen to your clipboard. (The existing screenshot shortcuts are still around.)
• Accessibility upgradesinclude compatibility with Braille devices; availability of the Narrator during installation (and during the Windows Recovery Environment); and the keyboard shortcut for Narrator is now Ctrl+Windows key+Enter (rather than Windows key+Enter), in hopes of making it less likely that you’ll hit it accidentally.
• Better ink.If you have a touchscreen and stylus, you can do more when you write on the screen. For example, you can add more to a drawing you’ve made earlier, you can erase only part of a line, and you get improved onscreen tools like protractor and ruler.
Microsoft says that it has also made zillions of under-the-hood changes: better stability and security, greater options for software companies to exploit Windows’s power.
So no, Creators Update isn’t nearly as big a deal as Microsoft originally intended—actually, not an especially big deal at all. But even though most of the changes are small, they build on Windows 10, which was already coherent, attractive, and stable.
If you already have Windows 10, Creators Update is free. So download away—even if you wonder why it’s called what it’s called.
More from David Pogue:
Now I get it: Bitcoin
David Pogue tested 47 pill-reminder apps to find the best one
David Pogue’s search for the world’s best air-travel app
The little-known iPhone feature that lets blind people see with their fingers
I paid $3,000 for my MacBook Pro and got emotional whiplash
Here’s the real money-maker for the Internet of Things
David Pogue, tech columnist for Yahoo Finance, welcomes non-toxic comments in the Comments below. On the web, he’sdavidpogue.com. On Twitter, he’s@pogue. On email, he’s poguester@yahoo.com. You canread all his articles here, or you can sign up toget his columns by email. || Monday Hot Reads: How To Tell If Your Mutual Fund Is Dying: Compiled by ETF.com Staff How To Tell If Your Mutual Fund Is Dying (LA Times) As many investors pull money from actively managed stock mutual funds, shareholders who stay put may face special risks. Would You Buy An ETF Without Knowing What’s In It? (Bloomberg Businessweek) Precidian will be competing with Eaton Vance on the level of nontransparent active exchange-traded vehicles. A Once-Hot ETF Now Looks Pricey (Benzinga) VanEck's SLX steel ETF is looking expensive after a recent surge. Building A Better Bond ETF (Barron’s) Bond indexes are problematic, making ETFs based on them problematic. Here's how to improve performance. The Anti-Bitcoin ETF (Wall Street Journal) Diversified currency funds provide a contrast to proposed—and so far rejected—bitcoin ETFs. ETFs Claiming Larger Share Of Invested Assets (Chicago Tribune) Asset gathering pace is picking up steam, and that’s even more impressive if you consider 401(k)s still largely don’t offer ETFs. 5 High Yield ETFs Of CEFs For Tactical Income Investors (FMD Capital Management) A rundown of the differences between five ETFs that invest in closed-end funds. Investors Check In To This ETF, But Don’t Want To Leave (WSJ) BlackRock’s iShares Core MSCI Emerging Markets ETF IEMG has never had a day of net redemptions. A Foreign Threat To US Treasuries That Dwarfs Fed's Debt Hoard (Bloomberg) There’s an even bigger debt pile that could draw buyers away from Treasuries at just the wrong time. Recommended Stories Monday Hot Reads: How To Tell If Your Mutual Fund Is Dying BlackRock’s Active Gambit Ups Pressure On Rivals The ‘Stock Picker’s Market’ That Wasn’t Friday Hot Reads: Model ETF Portfolios Get A Fixed Income Overhaul Tuesday Hot Reads: ETFs Have Saved Investors How Many Billions? Permalink | © Copyright 2017 ETF.com. All rights reserved || Monday Hot Reads: How To Tell If Your Mutual Fund Is Dying: Compiled by ETF.com Staff
How To Tell If Your Mutual Fund Is Dying(LA Times)As many investors pull money from actively managed stock mutual funds, shareholders who stay put may face special risks.
Would You Buy An ETF Without Knowing What’s In It?(Bloomberg Businessweek)Precidian will be competing with Eaton Vance on the level of nontransparent active exchange-traded vehicles.
A Once-Hot ETF Now Looks Pricey(Benzinga)VanEck'sSLXsteel ETF is looking expensive after a recent surge.
Building A Better Bond ETF(Barron’s)Bond indexes are problematic, making ETFs based on them problematic. Here's how to improve performance.
The Anti-Bitcoin ETF(Wall Street Journal)Diversified currency funds provide a contrast to proposed—and so far rejected—bitcoin ETFs.
ETFs Claiming Larger Share Of Invested Assets(Chicago Tribune)Asset gathering pace is picking up steam, and that’s even more impressive if you consider 401(k)s still largely don’t offer ETFs.
5 High Yield ETFs Of CEFs For Tactical Income Investors(FMD Capital Management)A rundown of the differences between five ETFs that invest in closed-end funds.
Investors Check In To This ETF, But Don’t Want To Leave(WSJ)BlackRock’s iShares Core MSCI Emerging Markets ETFIEMGhas never had a day of net redemptions.
A Foreign Threat To US Treasuries That Dwarfs Fed's Debt Hoard(Bloomberg)There’s an even bigger debt pile that could draw buyers away from Treasuries at just the wrong time.
Recommended Stories
• Monday Hot Reads: How To Tell If Your Mutual Fund Is Dying
• BlackRock’s Active Gambit Ups Pressure On Rivals
• The ‘Stock Picker’s Market’ That Wasn’t
• Friday Hot Reads: Model ETF Portfolios Get A Fixed Income Overhaul
• Tuesday Hot Reads: ETFs Have Saved Investors How Many Billions?
Permalink| © Copyright 2017ETF.com.All rights reserved || The first investor in Snapchat thinks each bitcoin could realistically be worth $500,000 by 2030 — Here's how: (Jeremy Liew.Getty)
Bitcoin has been thetop-performing currencyin the world in six of the past seven years, climbing from zero to a value of about $1,190.
But the cryptocurrency isn't anywhere close to its potential, according toJeremy Liew,the first investor in Snapchat, and Blockchain CEO and cofounder Peter Smith.In a presentation sent to Business Insider, the duo laid out their case for why it's reasonable for bitcoin to explode to $500,000 by 2030.
Their argument is based on increased interest in bitcoin, thanks to:
Bitcoin-based remittances
Remittance transfers, or electronic money transfers to foreign countries, havealmost doubled over the past 15 yearsto 0.76% of GDP, data from The World Bank shows.
"Expats sending money home have found in Bitcoin an inexpensive alternative, and we assume that the percentage of Bitcoin-based remittances will sharply increase with greater Bitcoin awareness," the two say.
Uncertainty
Liew and Smith said increased political uncertainty in the UK, US and in developing nations would help elevate the level of interest in bitcoin.
"We believe Bitcoin awareness, high liquidity, ease of transport and continued market outperformance as geopolitical risks mount, will make Bitcoin a strong contender for investment at a consumer and investor level," the two said.
Mobile penetration
Liew and Smith believe the percentage of non-cash transactions will climb from 15% to 30% in the next 10 years as the world becomes more connected through smartphones. There's only a 63% global smartphone penetration and the total number of smartphone users is expected to soar by 1 billion by 2020. GSMA,a trade body that represents the interests of mobile operators worldwide, believes90% of these userswill come from developing countries.
This will make it possible for nearly everyone to have a bank in their pocket, and that should provide a boost for bitcoin as well. Liew and Smith say bitcoin could account for 50% of all of these transactions.
Here are the basic model drivers that Liew and Smith used:
1. A bitcoin price of $1,000 in 2017.
2. That network users will grow 61x from now until 2030."Put another way, we need a population of bitcoin users around a quarter of the Chinese population (or 5% of the global population) in 2030 to see bitcoin at $500k," Liew and Smith told Business Insider. Bitcoin's user network grew from 120,000 users in 2013 to 6.5 million users in 2017, or about 54x, and this could be just the beginning. Growth of that magnitude would produce 400 million users in 2030.
3. The average value of bitcoin held per user hits $25,000. "As institutional investor cash in Bitcoin, sophisticated investors trading Bitcoin, and Bitcoin-based ETFs proliferate, we think the average Bitcoin value held will increase to around $25k per Bitcoin holder," Liew and Smith said. Currently, with a market cap of $16.4 billion, and 6.5 million user count, the average user holds $2,515 worth of bitcoin.
4. Bitcoin's 2030 market capis decided by number of bitcoin holders multiplied by average bitcoin value held.
5. Bitcoin's 2030 supply will be about 20 million.
6. Bitcoin's 2030 price and user count total $500,000 and 400 million, respectively.The price is found by taking the $10 trillion market cap and dividing it by the fixed supply of 20 million bitcoin.
It's important to note that a lot could go wrong, too. News surrounding bitcoin has been rather negative as of a late.
China, which is responsible for nearly 100% of trading in bitcoin, has beencracking downon trading. The three biggest exchanges recently announced a 0.2% fee on all transactions, in addition toblocking withdrawalsfrom trading accounts.
Additionally, the US Securities and Exchange Commission rejected two bitcoin exchange-traded funds, and will make a ruling on another one in the future. It's not expected to be approved. However, Smith thinks bitcoin is still in its early stages.
"The SEC’s ruling wasn't a surprise to us," he told Business Insider. "We know that getting this sort of approval is going to take (a potentially long) time," Smith said. "In the meantime, bitcoin is already simple to buy and hold and, as the asset continues to mature,we'll continue to see an increase in the development and deployment of surrounding products."
(Markets Insider)
And while bitcoin hasn't been granted regulatory approval here in the US, it is catching on elsewhere. On April 1, the cryptocurrency became alegal payment method in Japan.
Another threat to the future of the cryptocurrency is that developers arethreatening to set up a "hard fork," or alternative marketplace for bitcoin. This would result in the split of bitcoin into bitcoin and bitcoin unlimited. However, Smith says not to worry.
"Bitcoin has strong economic incentives to prevent this," he said. "If the last two years of healthy contention and debate lead to a conclusion, it's that Bitcoin is incredibly resilient and stable. In fact, the bitcoin Blockchain has operated for 7+ years with no downtime, a feat no other back-end system operating at this scale can claim."
Anyone interested in bitcoin should also know that the cryptocurrency sees violent price swings that are uncommon among the more traditional currencies. Bitcoin rallied 20% in the first week of 2017 before crashing 35% on word China was cracking down on trading.
The cryptocurrency has regained those losses, and trades up about 25% so far this year.
NOW WATCH:Warner Bros. might have to pay $900 million if it can't prove ghosts are real
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• HBO just unveiled a peek at 15 new character looks for 'Game of Thrones' season 7
• If you're new to coding, this is the programming language you should learn first
• Bitcoin spikes after Japan says it's a legal payment method || The first investor in Snapchat thinks each bitcoin could realistically be worth $500,000 by 2030 — Here's how: Jeremy Liew (Jeremy Liew.Getty) Bitcoin has been the top-performing currency in the world in six of the past seven years, climbing from zero to a value of about $1,190. But the cryptocurrency isn't anywhere close to its potential, according to Jeremy Liew, the first investor in Snapchat , and Blockchain CEO and cofounder Peter Smith. In a presentation sent to Business Insider, the duo laid out their case for why it's reasonable for bitcoin to explode to $500,000 by 2030. Their argument is based on increased interest in bitcoin, thanks to: Bitcoin-based remittances Remittance transfers, or electronic money transfers to foreign countries, have almost doubled over the past 15 years to 0.76% of GDP, data from The World Bank shows. "Expats sending money home have found in Bitcoin an inexpensive alternative, and we assume that the percentage of Bitcoin-based remittances will sharply increase with greater Bitcoin awareness," the two say. Uncertainty Liew and Smith said increased political uncertainty in the UK, US and in developing nations would help elevate the level of interest in bitcoin. "We believe Bitcoin awareness, high liquidity, ease of transport and continued market outperformance as geopolitical risks mount, will make Bitcoin a strong contender for investment at a consumer and investor level," the two said. Mobile penetration Liew and Smith believe the percentage of non-cash transactions will climb from 15% to 30% in the next 10 years as the world becomes more connected through smartphones. There's only a 63% global smartphone penetration and the total number of smartphone users is expected to soar by 1 billion by 2020. GSMA, a trade body that represents the interests of mobile operators worldwide, believes 90% of these users will come from developing countries. This will make it possible for nearly everyone to have a bank in their pocket, and that should provide a boost for bitcoin as well. Liew and Smith say bitcoin could account for 50% of all of these transactions. Story continues Here are the basic model drivers that Liew and Smith used: A bitcoin price of $1,000 in 2017. That network users will grow 61x from now until 2030. "Put another way, we need a population of bitcoin users around a quarter of the Chinese population (or 5% of the global population) in 2030 to see bitcoin at $500k," Liew and Smith told Business Insider. Bitcoin's user network grew from 120,000 users in 2013 to 6.5 million users in 2017, or about 54x, and this could be just the beginning. Growth of that magnitude would produce 400 million users in 2030. The average value of bitcoin held per user hits $25,000. " As institutional investor cash in Bitcoin, sophisticated investors trading Bitcoin, and Bitcoin-based ETFs proliferate, we think the average Bitcoin value held will increase to around $25k per Bitcoin holder," Liew and Smith said. Currently, with a market cap of $16.4 billion, and 6.5 million user count, the average user holds $2,515 worth of bitcoin. Bitcoin's 2030 market cap is decided by number of bitcoin holders multiplied by average bitcoin value held. Bitcoin's 2030 supply will be about 20 million. Bitcoin's 2030 price and user count total $500,000 and 400 million, respectively. The price is found by taking the $10 trillion market cap and dividing it by the fixed supply of 20 million bitcoin. It's important to note that a lot could go wrong, too. News surrounding bitcoin has been rather negative as of a late. China, which is responsible for nearly 100% of trading in bitcoin, has been cracking down on trading. The three biggest exchanges recently announced a 0.2% fee on all transactions, in addition to blocking withdrawals from trading accounts. Additionally, the US Securities and Exchange Commission rejected two bitcoin exchange-traded funds, and will make a ruling on another one in the future. It's not expected to be approved. However, Smith thinks bitcoin is still in its early stages. "The SEC’s ruling wasn't a surprise to us," he told Business Insider. "We know that getting this sort of approval is going to take (a potentially long) time," Smith said. "In the meantime, bitcoin is already simple to buy and hold a nd, as the asset continues to mature, we'll continue to see an increase in the development and deployment of surrounding products." Bitcoin (Markets Insider) And while bitcoin hasn't been granted regulatory approval here in the US, it is catching on elsewhere. On April 1, the cryptocurrency became a legal payment method in Japan . Another threat to the future of the cryptocurrency is that developers are threatening to set up a " hard fork ," or alternative marketplace for bitcoin. This would result in the split of bitcoin into b itcoin and bitcoin unlimited. However, Smith says not to worry. " Bitcoin has strong economic incentives to prevent this," he said. "If the last two years of healthy contention and debate lead to a conclusion, it's that Bitcoin is incredibly resilient and stable. In fact, the bitcoin Blockchain has operated for 7+ years with no downtime, a feat no other back-end system operating at this scale can claim." Anyone interested in bitcoin should also know that the cryptocurrency sees violent price swings that are uncommon among the more traditional currencies. Bitcoin rallied 20% in the first week of 2017 before crashing 35% on word China was cracking down on trading. The cryptocurrency has regained those losses, and trades up about 25% so far this year. NOW WATCH: Warner Bros. might have to pay $900 million if it can't prove ghosts are real More From Business Insider HBO just unveiled a peek at 15 new character looks for 'Game of Thrones' season 7 If you're new to coding, this is the programming language you should learn first Bitcoin spikes after Japan says it's a legal payment method || Trades to make after the US airstrike in Syria fails to shake investors: The "Fast Money" traders break down their market moves Friday after a flurry of political headlines during the week, including a Thursday U.S. airstrike on Syria , failed to shake investors. Trader Steve Grasso said he's stepping away from the market because he is "waiting for this [it] to crack." He said he sold Qualcomm (NASDAQ: QCOM) and Micron Technology (NASDAQ: MU) , but he is still invested in housing stocks and positioned for impending mergers and acquisitions across the market. Grasso said he will return to the market if the S&P 500 (INDEX: .SPX) jumps over 2400 points on substantial data that's more than just sentiment. The S&P closed at 2355.54 points on Friday, down 0.08 percent. Trader David Seaburg said he was impressed by the resilience of the market following the U.S. airstrike on Syria. He said he likes the healthcare (NYSE Arca: XLV) and technology (NYSE Arca: XLK) sectors. He said merger and acquisitions should accumulate in the technology space. Trader Brian Kelly said he will continue to ride high with Wal-Mart (NYSE: WMT) . The retailer was upgraded by a Telsey Advisory Group analyst on Friday and saw the company's shares saw a 2 percent gain. He said he got into Wal-Mart because he continues to believe the possible border adjustment tax will not become law. The iShares Nasdaq Biotechnology ETF (NASDAQ: IBB) sector earned favor from Guy Adami with its consistent move higher. The exchange-traded fund is up over 3 percent in the last 3 months. Adami also said he likes Wal-Mart. He said the stock should continue its climb and outperform Target (NYSE: TGT) . Disclosures: Steve Grasso's firm is long AON, BX, CUBA, DIA, F, HES, ICE, KDUS, MAT, MFIN, MJNA, MSFT, NE, RIG, SNAP, SPY, SQBG, TITXF, UA, WDR, WPX, ZNGA. Grasso is long CHK, EEM, EVGN, GDX, KBH, MJNA, MON, OLN, PFE, PHM, T, TWTR, VRX. Grasso's kids own EFA, EFG, EWJ, IJR, SPY. No shorts. "Opinions expressed by David Seaburg are solely his own and do not reflect the views and opinions of Cowen Group, Inc. David Seaburg and Cowen have a financial interest in EDIT. Diamond Offshore: an employee of Cowen and Company, LLC serves on the Board of Directors of Diamond Offshore" Story continues Brian Kelly is long Bitcoin, FXI, HLF, TSLA, WMT, XBI. Guy Adami is long CELG, EXAS, GDX, INTC. Adami's wife, Linda Snow, works at Merck. More From CNBC Newsmax CEO: Might be appropriate for Trump to take military action against Syria Trades to make in an uncertain market How to trade the French election || Trades to make after the US airstrike in Syria fails to shake investors: The"Fast Money"traders break down their market moves Friday after a flurry of political headlines during the week, including a ThursdayU.S. airstrike on Syria, failed to shake investors.
Trader Steve Grasso said he's stepping away from the market because he is "waiting for this [it] to crack." He said he sold Qualcomm(NASDAQ: QCOM)and Micron Technology(NASDAQ: MU), but he is still invested in housing stocks and positioned for impending mergers and acquisitions across the market.
Grasso said he will return to the market if the S&P 500(INDEX: .SPX)jumps over 2400 points on substantial data that's more than just sentiment. The S&P closed at 2355.54 points on Friday, down 0.08 percent.
Trader David Seaburg said he was impressed by the resilience of the market following the U.S. airstrike on Syria. He said he likes the healthcare(NYSE Arca: XLV)and technology(NYSE Arca: XLK)sectors. He said merger and acquisitions should accumulate in the technology space.
Trader Brian Kelly said he will continue to ride high with Wal-Mart(NYSE: WMT). The retailerwas upgraded by a Telsey Advisory Group analyst on Fridayand saw the company's shares saw a 2 percent gain. He said he got into Wal-Mart because he continues to believe the possible border adjustment tax will not become law.
The iShares Nasdaq Biotechnology ETF(NASDAQ: IBB)sector earned favor from Guy Adami with its consistent move higher. The exchange-traded fund is up over 3 percent in the last 3 months.
Adami also said he likes Wal-Mart. He said the stock should continue its climb and outperform Target(NYSE: TGT).
Disclosures:
Steve Grasso's firm is long AON, BX, CUBA, DIA, F, HES, ICE, KDUS, MAT, MFIN, MJNA, MSFT, NE, RIG, SNAP, SPY, SQBG, TITXF, UA, WDR, WPX, ZNGA. Grasso is long CHK, EEM, EVGN, GDX, KBH, MJNA, MON, OLN, PFE, PHM, T, TWTR, VRX. Grasso's kids own EFA, EFG, EWJ, IJR, SPY. No shorts.
"Opinions expressed by David Seaburg are solely his own and do not reflect the views and opinions of Cowen Group, Inc. David Seaburg and Cowen have a financial interest in EDIT. Diamond Offshore: an employee of Cowen and Company, LLC serves on the Board of Directors of Diamond Offshore"
Brian Kelly is long Bitcoin, FXI, HLF, TSLA, WMT, XBI.
Guy Adami is long CELG, EXAS, GDX, INTC. Adami's wife, Linda Snow, works at Merck.
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• How to trade the French election || C&W's Garry Sinclair Showcased Innovative Flow Lend App at the CTU's ICT Symposium: ST. JOHN'S ANTIGUA--(Marketwired - Apr 7, 2017) - At the recently held Caribbean Telecommunications Union ICT Week & Symposium held on March 20 - 24 in Antigua, C&W 's Caribbean President, Garry Sinclair delivered an interactive presentation during which he showcased the Company's newest award-winning, customer-focused app - Flow Lend - to more than 100 delegates. He also seized the opportunity to provide an update on his Company, highlighting the fact that C&W is now a part of the world's largest Broadband and Entertainment Company, Liberty Global. Sinclair said that C&W is in transition on its way to becoming the best telecoms company in the region. Sinclair also said, "We are refocusing and will continue to put the customer at the heart of what we do. To do so we will leverage the size and scale of our parent company, develop more innovative apps, products and services that provide anytime, anywhere connectivity to give our customers more flexibility and convenience to suit their lifestyle needs. In addition, we will continue to make investments and improvements in our network." Flow Lend provides credit advance at 'zero interest and no fees' to loyal prepaid mobile customers keeping them connected even when they are out of cash, until their next top up. The app addresses a real need particularly for prepaid customers who don't use credit cards, and usually rely on in-store cash top ups. In his presentation the Caribbean President shared a testimonial of how this latest technology has enhanced and transformed customers' lives. This new convenient option has gotten a resounding endorsement from customers and won the Mondato Innovation Award for Digital Finance and Commerce (DFC) in December 2016. The ICT Symposium was held under the theme "ICT - Driving 21st Century Intelligent Services" and highlighted topics such as ICT-Enabled Financial Solutions; Financing Operations for ICT-enabled Development; Security matters and 21st Century Financial Services for all. Government officials and telecommunications executives from over 20 countries throughout the Caribbean attended the weeklong event, which is the largest gathering of ICT and Telecommunication Executives in the region. Antigua and Barbuda's Minister of Information, Broadcasting, Telecommunications and Information Technology , the Hon. Melford Nicholas expressed his delight that Antigua was host country. The activities during ICT week also included the 34th Executive Council Statutory Meeting and the 15 th Caribbean Ministerial Strategic ICT Seminar. The ICT Week Symposium presented another unique opportunity to showcase the practical and user-friendly customer focused solutions developed by Flow that demonstrates its commitment to connecting communities and transforming lives. Story continues Editor's Note: Flow has been keeping its prepaid mobile customers connected with its cashless mobile top-up app, Flow Lend , which advanced more than US$1Million in less than six months in mobile credit - and, in partnership with JUVO , won the Mondato Innovation Award for Digital Finance and Commerce (DFC) in December 2016. About C&W Communications C&W is a full service communications and entertainment provider and delivers market-leading video, broadband, telephony and mobile services to consumers in 18 countries. Through its business division, C&W provides data center hosting, domestic and international managed network services, and customized IT service solutions, utilizing cloud technology to serve business and government customers. C&W also operates a state-of-the-art submarine fiber network - the most extensive in the region. Learn more at www.cwc.com , or follow C&W on LinkedIn , Facebook or Twitter . About Liberty Global Liberty Global is the world's largest international TV and broadband company, with operations in more than 30 countries across Europe, Latin America and the Caribbean. We invest in the infrastructure that empowers our customers to make the most of the digital revolution. Our scale and commitment to innovation enable us to develop market-leading products delivered through next generation networks that connect our 25 million customers who subscribe to over 50 million television, broadband internet and telephony services. We also serve over 10 million mobile subscribers and offer WiFi service across 5 million access points. Liberty Global's businesses are comprised of two stocks: the Liberty Global Group ( NASDAQ : LBTYA ) ( NASDAQ : LBTYB ) ( NASDAQ : LBTYK ) for our European operations, and the LiLAC Group ( NASDAQ : LILA ) and ( NASDAQ : LILAK ) ( OTC PINK : LILAB ), which consists of our operations in Latin America and the Caribbean. The Liberty Global Group operates in 11 European countries under the consumer brands Virgin Media, Unitymedia, Telenet and UPC. The Liberty Global Group also owns 50% of VodafoneZiggo, a Dutch joint venture, which has 4 million customers, 10 million fixed-line subscribers and 5 million mobile subscribers. The LiLAC Group operates in over 20 countries in Latin America and the Caribbean under the consumer brands VTR, Flow, Liberty, Más Móvil and BTC. In addition, the LiLAC Group operates a sub-sea fiber network throughout the region in over 30 markets. For more information, please visit www.libertyglobal.com . Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=3127626 Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=3127629 Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=3127639 Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=3127637 View comments || C&W's Garry Sinclair Showcased Innovative Flow Lend App at the CTU's ICT Symposium: ST. JOHN'S ANTIGUA--(Marketwired - Apr 7, 2017) - At the recently heldCaribbean Telecommunications UnionICT Week & Symposium held on March 20 - 24 in Antigua,C&W's Caribbean President, Garry Sinclair delivered an interactive presentation during which he showcased the Company's newest award-winning, customer-focused app -Flow Lend- to more than 100 delegates.
He also seized the opportunity to provide an update on his Company, highlighting the fact that C&W is now a part of the world's largest Broadband and Entertainment Company, Liberty Global. Sinclair said that C&W is in transition on its way to becoming the best telecoms company in the region. Sinclair also said, "We are refocusing and will continue to put the customer at the heart of what we do. To do so we will leverage the size and scale of our parent company, develop more innovative apps, products and services that provide anytime, anywhere connectivity to give our customers more flexibility and convenience to suit their lifestyle needs. In addition, we will continue to make investments and improvements in our network."
Flow Lend provides credit advance at 'zero interest and no fees' to loyal prepaid mobile customers keeping them connected even when they are out of cash, until their next top up. The app addresses a real need particularly for prepaid customers who don't use credit cards, and usually rely on in-store cash top ups. In his presentation the Caribbean President shared a testimonial of how this latest technology has enhanced and transformed customers' lives. This new convenient option has gotten a resounding endorsement from customers and won theMondato Innovation Award for Digital Finance and Commerce (DFC)in December 2016.
The ICT Symposium was held under the theme "ICT - Driving 21st Century Intelligent Services" and highlighted topics such as ICT-Enabled Financial Solutions; Financing Operations for ICT-enabled Development; Security matters and 21st Century Financial Services for all. Government officials and telecommunications executives from over 20 countries throughout the Caribbean attended the weeklong event, which is the largest gathering of ICT and Telecommunication Executives in the region.
Antigua and Barbuda's Minister ofInformation, Broadcasting, Telecommunications and Information Technology, the Hon. Melford Nicholas expressed his delight that Antigua was host country. The activities during ICT week also included the 34th Executive Council Statutory Meeting and the 15thCaribbean Ministerial Strategic ICT Seminar.
The ICT Week Symposium presented another unique opportunity to showcase the practical and user-friendly customer focused solutions developed by Flow that demonstrates its commitment to connecting communities and transforming lives.
Editor's Note:Flowhas been keeping its prepaid mobile customers connected with its cashless mobile top-up app,Flow Lend, which advanced more than US$1Million in less than six months in mobile credit - and, in partnership withJUVO, won theMondato Innovation Award for Digital Finance and Commerce (DFC)in December 2016.
About C&W Communications
C&W is a full service communications and entertainment provider and delivers market-leading video, broadband, telephony and mobile services to consumers in 18 countries. Through its business division, C&W provides data center hosting, domestic and international managed network services, and customized IT service solutions, utilizing cloud technology to serve business and government customers.
C&W also operates a state-of-the-art submarine fiber network - the most extensive in the region.
Learn more atwww.cwc.com, or follow C&W onLinkedIn,FacebookorTwitter.
About Liberty Global
Liberty Global is the world's largest international TV and broadband company, with operations in more than 30 countries across Europe, Latin America and the Caribbean. We invest in the infrastructure that empowers our customers to make the most of the digital revolution. Our scale and commitment to innovation enable us to develop market-leading products delivered through next generation networks that connect our 25 million customers who subscribe to over 50 million television, broadband internet and telephony services. We also serve over 10 million mobile subscribers and offer WiFi service across 5 million access points.
Liberty Global's businesses are comprised of two stocks: the Liberty Global Group (NASDAQ:LBTYA) (NASDAQ:LBTYB) (NASDAQ:LBTYK) for our European operations, and the LiLAC Group (NASDAQ:LILA) and (NASDAQ:LILAK) (OTC PINK:LILAB), which consists of our operations in Latin America and the Caribbean.
The Liberty Global Group operates in 11 European countries under the consumer brands Virgin Media, Unitymedia, Telenet and UPC. The Liberty Global Group also owns 50% of VodafoneZiggo, a Dutch joint venture, which has 4 million customers, 10 million fixed-line subscribers and 5 million mobile subscribers. The LiLAC Group operates in over 20 countries in Latin America and the Caribbean under the consumer brands VTR, Flow, Liberty, Más Móvil and BTC. In addition, the LiLAC Group operates a sub-sea fiber network throughout the region in over 30 markets.
For more information, please visitwww.libertyglobal.com.
Image Available:http://www2.marketwire.com/mw/frame_mw?attachid=3127626Image Available:http://www2.marketwire.com/mw/frame_mw?attachid=3127629Image Available:http://www2.marketwire.com/mw/frame_mw?attachid=3127639Image Available:http://www2.marketwire.com/mw/frame_mw?attachid=3127637 || How to Invest in Bitcoin and Digital Currency: In the years since the Great Recession, you've probably heard about the electronic payment system and so-called cryptocurrency called bitcoin . But you're perhaps less likely to have heard of the underlying technology that powers it. It's called blockchain. Blockchain technology is a digital ledger distributed across a network of computers that keeps track of transactions. But beyond payments, it can be used for a wide variety of applications such as contracts, documents and basic record keeping. "Wall Street is going to eventually move into this in a big way," says Alan Friedland, founder of Compcoin, a blockchain-based public currency trading platform. "In the meantime, it's a great opportunity to get into early." [See: 9 Under-the-Radar Ways to Buy Financial Stocks .] Just like the internet democratized the dissemination of information, blockchain technology democratizes the securitization of information, says Chris Burniske, head of blockchain products with Ark Investment Management. "It's probably the most impactful general purpose technology that's been invented in the 21st century," he says. While bitcoin decentralizes payments, another major blockchain technology called Ethereum enables decentralized applications. Another, Storj, is involved in decentralized computer storage. Each issues its own value token or coin -- bitcoin issues bitcoins, Ethereum issues ether, and Storj issues Storjcoin X -- that can be bought and traded. There are now many different digital currencies. Blockchain assets have a very low correlation to other assets, and so they can be used to diversify portolios , Burniske says. Some use them as a risk hedge similar to how they use gold, he says. Stan Miroshnik, managing director with the Argon Group, an investment bank focusing on the blockchain sector, adds that bitcoin is uncorrelated to bonds, gold, real estate, commodities and emerging market currencies. It only has a very small correlation to U.S. equities, he says. Story continues Blockchain is "an important enough technology that people should try to invest a little bit," Miroshnik says. There are different schools of thought about the best way to invest in this nascent, but growing, industry. On the one hand, you can stockpile tokens , such as bitcoin or another digital currency, and hope the demand for them will increase, their value will rise and you can sell them later at a profit. Or, you can invest in the companies that are creating different blockchain-based products. Morningstar analyst Jim Sinegal falls into the latter camp, saying investors should focus on companies that stand to make money if they find useful applications for blockchain technology. He suggests investors go after the companies because the coins don't generate any cash flow. So the only way you'll make money off it is if a token's price goes up and you can then sell it, Sinegal says. However, because the industry is so new, it can be tough to invest in companies with exposure to blockchain technology, Sinegal says. He compares it to the early stages of internet stocks in the 1990s. A few were successful, but investors lost money on others. "It's very tough to make a direct investment," he says. [See: 6 ETFs That Let You Buy Micro-Cap Stocks .] Still, Sinegal says companies such as Goldman Sachs Group (ticker: NYSE: GS ) and CME Group ( CME ) eventually stand to significantly benefit from the lower costs blockchain technology makes possible. While more than 70 of the world's largest financial institutions have joined a blockchain-development consortium, and large technology firms like International Business Machines Corp. ( IBM ) and Microsoft Corp. ( MSFT ) have blockchain solutions, Miroshnik says it remains difficult to get true exposure to the technology through public companies. The blockchain penny stock universe includes BTCS, Global Arena Holding, HashingSpace Corp. and First Bitcoin Capital Corp. But penny stock companies are very young and may not be the best investment now as their business models are evolving, Miroshnik says. Miroshnik says investing in coins is the way to go because blockchain assets appreciate for two reasons. First, there is a real cost to producing each transactional ledger of the blockchain. It takes computer equipment and energy. These so-called miners compete to produce the next block in the chain and are rewarded with coins. This cost of production keeps going up over time, creating a fundamental driver of higher value, Miroshnik says. Additionally, there is transactional value created as demand rises for a blockchain coin, Miroshnik says. For investors wanting to buy into this emerging asset class, they can go to places such as Coinbase, Bitstamp or Kraken, Burniske says. It's similar to a foreign exchange trade, where investors exchange the value of one asset with another based on exchange rates, he says. His company runs two exchange-traded funds -- the Web x.0 ETF ( ARKW ) and Ark Innovation ETF ( ARKK ) -- that each have exposure to bitcoin though Bitcoin Investment Trust ( GBTC ), he says. Uninitiated consumers should stick with bitcoin or ether to get comfortable with the language of this emerging capital market, Miroshnik says. For other coins, investing means doing research into what project they are supporting and what value the investor thinks it represents, he says. [See: The 9 Best Municipal Bond Funds for Tax-Free Income .] "That process is very similar to how you would think about investing in small-cap stocks," he says. More From US News & World Report The 10 Best Financial ETFs You Can Buy Avoid These 8 Rookie Investing Mistakes 10 Tips for Couples and Young Families to Build Wealth
[Social Media Buzz]
Current price of Bitcoin is $1193.00 via Chain || One Bitcoin now worth $1168.92@bitstamp. High $1219.45. Low $1141.00. Market Cap $19.019 Billion #bitcoin pic.twitter.com/W1tC8gnvzp || 1 DOGE Price: Bter 0.00000036 BTC #doge #dogecoin 2017-04-13 00:31 pic.twitter.com/ppLBpkmeCf || 19:00~20:00時点のBitcoin市場は急騰だったようだ。
21:00までは急落かな?
【AIによるコメントです:テスト中(勉強中です)@パターンB】
#BitCoin
#AI
#モデリング || #Bitcoin 0.53%
Ultima: R$ 3810.00 Alta: R$ 3878.36 Baixa: R$ 3751.21
Fonte: Foxbit || $1216.17 at 05:15 UTC [2...
|
1167.54, 1172.52, 1182.94, 1193.91, 1211.67, 1210.29, 1229.08, 1222.05, 1231.71, 1207.21
|
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 1038.15, 1061.35, 1063.07, 994.38, 988.67, 1004.45, 999.18, 990.64, 1004.55, 1007.48, 1027.44, 1046.21, 1054.42, 1047.87, 1079.98, 1115.30, 1117.44, 1166.72, 1173.68, 1143.84, 1165.20, 1179.97, 1179.97, 1222.50, 1251.01, 1274.99, 1255.15, 1267.12, 1272.83, 1223.54, 1150.00, 1188.49, 1116.72, 1175.83, 1221.38, 1231.92, 1240.00, 1249.61, 1187.81, 1100.23, 973.82, 1036.74, 1054.23, 1120.54, 1049.14, 1038.59, 937.52, 972.78, 966.72, 1045.77, 1047.15, 1039.97, 1026.43, 1071.79, 1080.50, 1102.17, 1143.81, 1133.25, 1124.78, 1182.68, 1176.90, 1175.95, 1187.87, 1187.13, 1205.01, 1200.37, 1169.28, 1167.54, 1172.52, 1182.94, 1193.91, 1211.67, 1210.29, 1229.08, 1222.05, 1231.71, 1207.21, 1250.15, 1265.49, 1281.08, 1317.73, 1316.48, 1321.79, 1347.89, 1421.60, 1452.82, 1490.09, 1537.67, 1555.45, 1578.80.
|
[Bitcoin Technical Analysis for 2017-05-06]
Volume: 582529984, RSI (14-day): 88.31, 50-day EMA: 1251.39, 200-day EMA: 1011.11
[Wider Market Context]
None available.
[Recent News (last 7 days)]
How to win the World's Greatest Scavenger Hunt: GISHWHES stands for theGreatest International Scavenger Hunt the World Has Ever Seen. Teams of 15 have one week to complete a list of 200 difficult, charitable, or hilarious tasks. They prove they’ve completed each item by submitting a photo or video of it; their $20 entry fees go to a charity, and the winning team gets a trip to an exotic location.
This is Part 4 of our five-part series.
Part 1•Part 2•Part 3• Part 4 •Part 5
In the early years of the world’s largest scavenger hunt, when you signed up to enter, you’d have to answer only one question: Have you put together your own team of 15 people? Or would you like us to add you to a team?
But sometimes, the team-building system failed—because people came in with different expectations.
Florida State University students Nat Jones and Kira Sullivan, for example, had a rough ride during their first years competing. “In our first years of the hunt, we were on teams that weren’t as competitive as the one we’re on now [Team Raised from Perdition],” Kira says.
“We were in it to win it, but no one else on our team was,” Nat adds. “They saw us as too competitive: ‘Why are you guys so obsessed with GISHWHES?’”
(Lots of people join just for the hilarity of it, without any intention of completing all 175 items. Some, for example, choose to execute only a few, but in spectacular fashion. GISHWHES offers two showcases for such masterpieces: an onlineHall of Fame, and a hardbound coffee-table book that’s published after each year’s hunt.)
That’s why, nowadays, when you sign up to enter,the siteasks which kind of team you’re interested in. Do you intend to play competitively, or are you joining just for fun?
If you do intend to enter GISHWHES competitively, Team Raised from Perdition—a runner-up last year, and the team we’ve been following in this miniseries—offers some tips.
• “Fill the team with a variety of backgrounds and experiences. Spend some time bonding before the hunt.” —Suzanne Simpson
• “You can’t win if everyone’s not 100% committed. I’m talking, no work for the whole week, no school for the whole week, no anything but GISHWHES for the whole week.” —Nina Mostepan, Co-Captain
• “Another really essential skill to have in GISHWHES is the ability to not sleep for long periods of time. This year, I went for three and a half days on less than four hours of sleep.” —Christine Gervais
• “A lot of teams struggle with keeping communications going. We talk to our team all the time [using a system like Slack or Google Hangouts]. Even all year long, we talk to them. We do a lot of practices, too.” —Shiane Gaylie
• “Strategize in advance. You can look at past years’ item lists, and items created by top teams, for inspiration.” —Suzanne Simpson
• “A good strategy is to have more than one person in a town. You have to have someone modeling, and someone taking the pictures. And someone to bounce ideas off of, or talk in the car on the way to the place you’re going to.” —Nat Jones
• “Recruit a friend or family. Gishing is very social, so it’s always more fun if you have someone to do it with.” —Kira Sullivan
• “We have a spreadsheet [a Google Docs sheet] full of all our items, and we claim them on the spreadsheet, so that everyone on the team knows who’s doing what.” —Shiane Gaylie
• “We make up a laminated list of the items. So when we’re talking to someone about helping us with one of the challenges, we start by handing them the list, show them which item we need help with. It has explanations of everything that’s going on. A lot of the time, they’re like, ‘Hold on, I need five minutes to read this.’ (Laminated versus not laminated makes a miraculous difference. You don’t want to hand someone a piece of paper that’s floppy and has stains on it.)”—Rob Fitz-James
• “We’re fortunate that we have a good camera, but some of our team members just use their phones. If you pay attention to composition and lighting, the results can be just as good.” —Kira Sullivan
So far, for Team Raised from Perdition, it looks like those tips are paying off; as GISHWHES week draws to a close, only three of the 175 tasks seem unattainable. Unfortunately, one of them is worth a lot of points:
#127.Do the “airplane” with an astronaut—you know, like your parents used to? Lie on your back with your feet in the air while an astronaut lies face-down, hips on your feet, hands in yours, pretending to be flying. This must be a real, official astronaut or cosmonaut, wearing appropriate flight garb.
NASA’s official response to team requests for an astronaut for this purpose is, of course, “Um, no thanks.”
(Overall, though, NASA has a good relationship with GISHWHES. “One year, we put an item in the hunt that was to get one of the eight astronauts on the space station Mir to hold up a piece of paper that said ‘GISHWHES’ and your team name written on it,” says hunt creator Misha Collins. “Which resulted in all of the people on the space station having their social-media feeds bombarded. And so NASA posted, ‘Please leave our astronauts alone. They’re doing serious work.’ So the next year, I put an item into the hunt that read, ‘Last year, NASA asked us to leave them alone. We know that they’ve been kicking themselves all year for this. So here’s your second chance. Get ‘GISHWHES’ written in space.” NASA ended up naming a mountain on Mars ‘GISHWHES,’ maybe just to shut everybody up.”)
Things are going more smoothly for item 41:
#41.Treat a Vermont dairy cow to the most pampered milking session in human/bovine history. At least three attendants must milk the cow. One person must be feeding her clover by hand, as another milks her wearing satin gloves, as another massages her gently. The attendants must be dressed in semi-formal attire. The milking must take place in a well-appointed living room.
By a stroke of good luck, Tia’s step-grandmother Janet Watton lives in Vermont—next door to a dairy farm. By a stroke of bad luck, the farmer informs the team that you can’t bring a cow indoors. Cows don’t respond well to new environments, and even Paula Deen, the sweet-natured cow he has in mind, might balk—or, worse, rampage.
Janet devises a plan B: In her small barn, there’s a space that she can dress up tolooklike a living room. She sheetrocks the walls with posterboard, hangs curtains and a chandelier, brings in furniture, books, flowers, paintings. It’s not an actual living room, but it’s close enough for GISHWHES work.
On the last day of the hunt, the attendants, including a violinist, arrive in formal wear; the farmer sets up to do the milking; and Paula Deen takes her place. Distracted by the bucket of delicious fresh-picked clover, she performs like a champ as the camera rolls. “She didn’t even relieve herself,” the farmer marvels.
The cow is in the can; now all the team needs is an astronaut.
They have six hours left.
Part 1•Part 2•Part 3• Part 4 •Part 5
More from David Pogue:
Inside the World’s Greatest Scavenger Hunt: Part I
Inside the World’s Greatest Scavenger Hunt: Part 2
Insider the World’s Greatest Scavenger Hunt: Part 3
The David Pogue Review: Windows 10 Creators Update
Now I get it: Bitcoin
David Pogue tested 47 pill-reminder apps to find the best one
David Pogue’s search for the world’s best air-travel app
The little-known iPhone feature that lets blind people see with their fingers
David Pogue, tech columnist for Yahoo Finance, welcomes nontoxic comments in the comments section below. On the web, he’sdavidpogue.com. On Twitter, he’s@pogue. On email, he’s poguester@yahoo.com. You canread all his articles here, or you can sign up toget his columns by email. || Why Startups Are Trading IPOs for ICOs: This article first appeared in Term Sheet, Fortune’s newsletter on deals and dealmakers.Sign up here.
Last week a very confusing press release crossed my radar. It read:
“The Argon Group is working on the first secondary market raise by ICO. The company, Storj had one of the most successful ICOs several years ago, returning ~20x to investors in that round.”
Those two sentences apparently make perfect sense to people who know about ICOs, which stands for Initial Coin Offerings.
ICOs are the hot new thing in the blockchain community, I’m told. They are an alternative to crowdfunding, and have the potential to transform the way companies capitalize themselves. They are also of dubious legal status.
As such, I have recruited my colleague Robert Hackett to crypto-spain what an ICO is and why investors should care.
Term Sheet: Bob, What is an ICO?
Hackett: Can we do a little later in the day? I’m reporting on thishack of Medium.
Term Sheet: Fine.
[Waits three hours, then 24 hours, then four days.]
Term Sheet: Bob, what is an ICO?
BH: It’s basically a way for blockchain startups to raise money outside the traditional VC world.
TS: Only blockchain startups?
BH: Indeed. It’s sort of like an IPO, except for early stage blockchain projects. It’s effectively a Kickstarter campaign that uses blockchain-based “tokens” (aka app coins, cryptocurrencies, digital assets) to raise money.
TS: So startups raise tokens. How does that translate to money they can use to write paychecks and buy office snacks?
BH: Let’s try the socratic method. What is money, Erin?
TS: Money is the system societies use to assign value and pay for things, Bob.
BH: So, cryptocurrencies are a kind of money, so long as people ascribe value to them and use them to pay for things. The main benefit is the blockchain (aka distributed ledger) on which they’re based. Blockchains let you transact without needing the blessing of a third party or banker middleman. (Picture Uncle Pennybags.)
Bitcoin was the first successful implementation of a blockchain, and it’s optimized almost entirely for transferring value securely over the Internet. People like to call it “digital gold.” Then came another blockchain called Ethereum, which is a more flexible twist that aims to create a whole decentralized network on top of which people can build their own decentralized apps and tokens.
TS: And the paychecks and office snacks?
BH: People can get paid in ether and then cash out into fiat currency whenever they fancy (assuming the market keeps up).
TS: And if the market tanks...? This is a huge risk for the companies using it, right? Startups are already risky enough. Now they have to worry about wild fluctuations in currency on top of everything else.
BH: Some companies are justifying the creation of their own tokens as an insulator against the price movements of bitcoin and ether. How that fares in practice remains to be seen.
TS: So, why would a company want its stock to be made up of cryptocurrency rather than real money currency?
BH:“Real” money? HAVE I TAUGHT YOU NOTHING.
TS: Okay! Why would a company want its stock to be made up of cryptocurrency rather than fiat currency?
BH: This gets to the heart of the philosophy behind blockchains. From a founder’s perspective, you might like the idea of setting your own terms-or rather, letting the network, the community of users, set its own terms. Why give equity stakes to a small cohort of moneymen when instead you can let the people who will be using the network, the ones creating the value, have stakes in the project? This way, every participant is incentivized-especially, those who have bought in early-to increase the project’s value.
TS: Sure...
BH: What you’ve identified as a liability (currency fluctuations), others might view as an advantage. The crypto markets are highly liquid. No more waiting, waiting, waiting for an IPO or other exit to recoup funds. People can pull out money whenever they wish (assuming they haven’t agreed to some lockup period in the terms of a token sale). So the price tends to move, a lot. Speculators are having a field day while the world figures out how to price these weird assets. In the meantime, if you’re a company or “investor” you can cash out of your ether or bitcoin or whatever reserves and hold fiat whenever you like. Or you can play the game and take a gamble.
TS: And who can invest? Anyone?
BH: Ya, anyone. It’s a crowdsale!
TS: How would I buy tokens of, say, Storj, the company that recently held a secondary sale?
BH: You would go to an online exchange where it’s traded and make your purchase.
TS: It sounds like I’m just buying equity in a company in a different currency.
BH: Well, equity is one way to think about it. It’s notreallyan equity stake (although it sort of operates that way in practice). This is important for legal reasons! The SEC would not be pleased if startups were selling unregistered securities. Another way of conceiving of tokens is as licenses that give people the ability to use a particular application, or participate in a particular network.
TS: That gets to my biggest question. Which is, how is this legal?
BH: _()_/ #yolo
TS: Let me ask another way. Is some unsuspecting person who doesn’t know what they’re doing going to get fleeced by this, thus leading to an outrage followed by overly onerous regulation?
BH: That’s the billion bitcoin question.
TS: Are lots of companies using ICOs?
BH: One of the first projects to host an ICO was Mastercoin in 2013 (called OMNI since 2015). Ethereum had a particularly successful token sale in 2014, raising ~$18 million in bitcoin-although the project lost millions when the price of bitcoin crashed that year. The DAO, a decentralized venture capital firm built atop the ethereum network, became infamous after it raised something like $160 million in the summer of 2016 and soon after got hacked to the tune of $50 million. The number of token sales has been ticking up since the latter half of last year. Smith & Crown, crypto-market research firm, maintains a curated list of upcoming and recent token sales thatyou can check out here.
TS: Does this have ramifications outside the cryptocurrency world? Why should investors care?
BH: In my world, this is a big thing, yes. It’s how the most exciting blockchain projects are getting funded. Some VC firms, like Andreessen Horowitz and Union Square Ventures, have already gotten involved by funding cryptocurrency hedge funds to buy up tokens when they go on sale. A lot of crypto boosters compare the present time to the early days of the internet. There will be gold and there will be ghost towns. If you buy into the church of blockchain, then you’ll want to pay attention.
Have more cryptocurrency questions or observations?Email Boband Iand we will attempt to answer in a follow-up column.
This article was originally published on FORTUNE.com || Why Startups Are Trading IPOs for ICOs: This article first appeared in Term Sheet, Fortune’s newsletter on deals and dealmakers. Sign up here . Last week a very confusing press release crossed my radar. It read: “The Argon Group is working on the first secondary market raise by ICO. The company, Storj had one of the most successful ICOs several years ago, returning ~20x to investors in that round.” Those two sentences apparently make perfect sense to people who know about ICOs, which stands for Initial Coin Offerings. ICOs are the hot new thing in the blockchain community, I’m told. They are an alternative to crowdfunding, and have the potential to transform the way companies capitalize themselves. They are also of dubious legal status. As such, I have recruited my colleague Robert Hackett to crypto-spain what an ICO is and why investors should care. Term Sheet: Bob, What is an ICO? Hackett: Can we do a little later in the day? I’m reporting on this hack of Medium . Term Sheet: Fine. [Waits three hours, then 24 hours, then four days.] Term Sheet: Bob, what is an ICO? BH: It’s basically a way for blockchain startups to raise money outside the traditional VC world. TS: Only blockchain startups? BH: Indeed. It’s sort of like an IPO, except for early stage blockchain projects. It’s effectively a Kickstarter campaign that uses blockchain-based “tokens” (aka app coins, cryptocurrencies, digital assets) to raise money. TS: So startups raise tokens. How does that translate to money they can use to write paychecks and buy office snacks? BH: Let’s try the socratic method. What is money, Erin? TS: Money is the system societies use to assign value and pay for things, Bob. BH: So, cryptocurrencies are a kind of money, so long as people ascribe value to them and use them to pay for things. The main benefit is the blockchain (aka distributed ledger) on which they’re based. Blockchains let you transact without needing the blessing of a third party or banker middleman. (Picture Uncle Pennybags.) Story continues Bitcoin was the first successful implementation of a blockchain, and it’s optimized almost entirely for transferring value securely over the Internet. People like to call it “digital gold.” Then came another blockchain called Ethereum, which is a more flexible twist that aims to create a whole decentralized network on top of which people can build their own decentralized apps and tokens. TS: And the paychecks and office snacks? BH: People can get paid in ether and then cash out into fiat currency whenever they fancy (assuming the market keeps up). TS: And if the market tanks...? This is a huge risk for the companies using it, right? Startups are already risky enough. Now they have to worry about wild fluctuations in currency on top of everything else. BH: Some companies are justifying the creation of their own tokens as an insulator against the price movements of bitcoin and ether. How that fares in practice remains to be seen. TS: So, why would a company want its stock to be made up of cryptocurrency rather than real money currency? BH: “Real” money? HAVE I TAUGHT YOU NOTHING. TS: Okay! Why would a company want its stock to be made up of cryptocurrency rather than fiat currency? BH: This gets to the heart of the philosophy behind blockchains. From a founder’s perspective, you might like the idea of setting your own terms-or rather, letting the network, the community of users, set its own terms. Why give equity stakes to a small cohort of moneymen when instead you can let the people who will be using the network, the ones creating the value, have stakes in the project? This way, every participant is incentivized-especially, those who have bought in early-to increase the project’s value. TS: Sure... BH: What you’ve identified as a liability (currency fluctuations), others might view as an advantage. The crypto markets are highly liquid. No more waiting, waiting, waiting for an IPO or other exit to recoup funds. People can pull out money whenever they wish (assuming they haven’t agreed to some lockup period in the terms of a token sale). So the price tends to move, a lot. Speculators are having a field day while the world figures out how to price these weird assets. In the meantime, if you’re a company or “investor” you can cash out of your ether or bitcoin or whatever reserves and hold fiat whenever you like. Or you can play the game and take a gamble. TS: And who can invest? Anyone? BH: Ya, anyone. It’s a crowdsale! TS: How would I buy tokens of, say, Storj, the company that recently held a secondary sale? BH: You would go to an online exchange where it’s traded and make your purchase. TS: It sounds like I’m just buying equity in a company in a different currency. BH: Well, equity is one way to think about it. It’s not really an equity stake (although it sort of operates that way in practice). This is important for legal reasons! The SEC would not be pleased if startups were selling unregistered securities. Another way of conceiving of tokens is as licenses that give people the ability to use a particular application, or participate in a particular network. TS: That gets to my biggest question. Which is, how is this legal? BH: _()_/ #yolo TS: Let me ask another way. Is some unsuspecting person who doesn’t know what they’re doing going to get fleeced by this, thus leading to an outrage followed by overly onerous regulation? BH: That’s the billion bitcoin question. TS: Are lots of companies using ICOs? BH: One of the first projects to host an ICO was Mastercoin in 2013 (called OMNI since 2015). Ethereum had a particularly successful token sale in 2014, raising ~$18 million in bitcoin-although the project lost millions when the price of bitcoin crashed that year. The DAO, a decentralized venture capital firm built atop the ethereum network, became infamous after it raised something like $160 million in the summer of 2016 and soon after got hacked to the tune of $50 million. The number of token sales has been ticking up since the latter half of last year. Smith & Crown, crypto-market research firm, maintains a curated list of upcoming and recent token sales that you can check out here . TS: Does this have ramifications outside the cryptocurrency world? Why should investors care? BH: In my world, this is a big thing, yes. It’s how the most exciting blockchain projects are getting funded. Some VC firms, like Andreessen Horowitz and Union Square Ventures, have already gotten involved by funding cryptocurrency hedge funds to buy up tokens when they go on sale. A lot of crypto boosters compare the present time to the early days of the internet. There will be gold and there will be ghost towns. If you buy into the church of blockchain, then you’ll want to pay attention. Have more cryptocurrency questions or observations? Email Bob and I and we will attempt to answer in a follow-up column. This article was originally published on FORTUNE.com || 10 things you need to know before the opening bell: (A warden guards Sudan, the last surviving male northern white rhino, at the Ol Pejeta Conservancy in Laikipia national park, KenyaReuters/Baz Ratner)
Here is what you need to know.
The jobs report is coming.The US economy is expected to have added 190,000 nonfarm jobs in April as the unemployment rate ticked up to 4.6%, according to economists surveyed by Bloomberg. Additionally, average hourly earnings are expected to have held steady at up 2.7% year-over-year. The data will cross the wires at 8:30 a.m. ET.
Oil plunges suddenly.In a matter of 20 minutes, West Texas Intermediate crude oil tumbled 3.6% to a low of $43.76 a barrel. However, it has recovered its losses, and now trades little changed near $45.55.
Bitcoin is swinging violently.The cryptocurrency gained as much as 9% on Thursday, putting in a record high of $1,652 a coin before plunging below $1,500. On Friday, bitcoin trades up 6.4% at $1,598.
The 1st large Chinese-made passenger jet took off on its maiden voyage.The C919 took off from Shanghai Pudong International Airport, making China the fourth jumbo jet producer after the US, Europe, and Russia, Reuters says.
Warren Buffett unloads some of his IBM stock.Buffett sold one-third of Berkshire Hathaway's 81 million shares saying he "revalued it somewhat downward" from six years ago. Berkshire's annual meeting will take place on Saturday, and Business Insider will have full coverage.
ChemChina clinches its $43 billion takeover of Syngenta."At the end of the main offer period on May 4, based on preliminary numbers, around 80.7 percent of shares have been tendered," the companies said in a joint statement. "Subject to confirmation in the definitive notice of interim results scheduled for May 10, the minimum acceptance rate condition of 67 percent of issued Syngenta shares has been met."
Shake Shack same-store sales whiff.The burger chain said sales at stores open at least a year fell 2.5%, missing the 0.2% growth that Wall Street analysts were expecting. Shake Shack shares sank more than 7% in extended trading on Thursday.
Stock markets around the world are lower.Hong Kong's Hang Seng (-0.8%) lagged in Asia and Germany's DAX (-0.3%) trails in Europe. The S&P 500 is set to open little changed near 2,391.
Earnings reporting slows down.Cigna, Cognizant, and Fannie Mae are among the names reporting ahead of the opening bell.
Aside from the jobs report, US economic data is light.Consumer credit will be released at 3 p.m. ET. The US 10-year yield is unchanged at 2.35%.
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• 10 things you need to know before the opening bell || 10 things you need to know before the opening bell: The last surviving male northern white rhino (A warden guards Sudan, the last surviving male northern white rhino, at the Ol Pejeta Conservancy in Laikipia national park, KenyaReuters/Baz Ratner) Here is what you need to know. The jobs report is coming . The US economy is expected to have added 190,000 nonfarm jobs in April as the unemployment rate ticked up to 4.6%, according to economists surveyed by Bloomberg. Additionally, average hourly earnings are expected to have held steady at up 2.7% year-over-year. The data will cross the wires at 8:30 a.m. ET. Oil plunges suddenly . In a matter of 20 minutes, West Texas Intermediate crude oil tumbled 3.6% to a low of $43.76 a barrel. However, it has recovered its losses, and now trades little changed near $45.55. Bitcoin is swinging violently. The cryptocurrency gained as much as 9% on Thursday, putting in a record high of $1,652 a coin before plunging below $1,500. On Friday, bitcoin trades up 6.4% at $1,598. The 1st large Chinese-made passenger jet took off on its maiden voyage . The C919 took off from Shanghai Pudong International Airport, making China the fourth jumbo jet producer after the US, Europe, and Russia, Reuters says. Warren Buffett unloads some of his IBM stock . Buffett sold one-third of Berkshire Hathaway's 81 million shares saying he " revalued it somewhat downward" from six years ago. Berkshire's annual meeting will take place on Saturday, and Business Insider will have full coverage. ChemChina clinches its $43 billion takeover of Syngenta . " At the end of the main offer period on May 4, based on preliminary numbers, around 80.7 percent of shares have been tendered," the companies said in a joint statement. "Subject to confirmation in the definitive notice of interim results scheduled for May 10, the minimum acceptance rate condition of 67 percent of issued Syngenta shares has been met." Shake Shack same-store sales whiff . The burger chain said sales at stores open at least a year fell 2.5%, missing the 0.2% growth that Wall Street analysts were expecting. Shake Shack shares sank more than 7% in extended trading on Thursday. Story continues Stock markets around the world are lower . Hong Kong's Hang Seng (-0.8%) lagged in Asia and Germany's DAX (-0.3%) trails in Europe. The S&P 500 is set to open little changed near 2,391. Earnings reporting slows down. Cigna, Cognizant, and Fannie Mae are among the names reporting ahead of the opening bell. Aside from the jobs report, US economic data is light. Consumer credit will be released at 3 p.m. ET. The US 10-year yield is unchanged at 2.35%. More From Business Insider Watch one of the baddest A-10 pilots ever land after being hit by a missile This upgrade will extend the life of your MacBook Air for years 10 things you need to know before the opening bell || David Pogue: The best service for fast, cheap transcriptions: We, the modern people, are tickled with our phones’ voice-recognition powers. We can ask questions! We can open apps with our voice!
You know who’s not so tickled? Anyone who records other people talking. Our phones are terrible at transcribing voices—converting them to text that we can edit.
I realize that most people don’t care about transcribing audio. But if you’re a reporter, producer, editor, author, YouTuber, filmmaker, student, documentarian, researcher, government agency, doctor, lawyer, or police officer, for example, you mightreallycare. Manual transcription of audio and video files is an excruciating, tedious, soul-sucking exercise, and we’ve doing it pretty much the same way for 50 years.
The world waits for a method that’s fast, cheap, and accurate. We want this:
But you can’t have that.
Until now, there have been only a few ways to convert a recording into text:
• Transcribe it manually.You do the typing yourself as you listen. Hit Play, Stop, Rewind, Play, Stop, Rewind, over and over. That’s accurate and cheap, but not fast. It’s a royal pain, especially if you have several long interviews to do.
• Transcribe it manually, with web assistance.This Chrome extensioncombines an audio player and a text editor, so at least you’re spared some of the back-and-forth between two apps as you type it out yourself. Still tedious.
• Let your phone transcribe it.Yeah, play the recording into your phone, as though you’re speaking to it. The results are terrible. There’s no punctuation, no paragraph breaks, and the result needs so much editing, you could have done the job yourself faster. Fast and cheap, but not accurate. (Same thing for the automatic transcription features of YouTube and Google Docs. The results are generally a mess.)
• Hire a web-based service to do it.Services likeRev.com,Scribie.com,Transcribeme.com, andVoiceBase.comemploy human transcriptionists to type out your audio. Usually, they charge between $1 and $3 per minute of recorded audio or video—more if you want same-day turnaround, and even more if you want the transcriber to add time codes, the names of who’s speaking, and the little “ums” and false starts. Bottom line, you’re looking at $60 to $150 per hour of audio. Accurate, but not fast or cheap.
• Hire a professional service.Professional news channels hire professional transcription services likeTranscript Associates,Audio Transcription Center, orProfessional Transcriptions. You get incredible quality—flawless transcriptions; “ums” and “uhhs” and dashes representing pauses; time codes typed in; the speakers’ names identified. And you get it in a matter of hours. But we’re talking $220 per hour of audio, or more. Accurate and fairly fast, but not what you’d call cheap.
This is a review of a new, fifth approach:Trint.com. (The name, we’re told, is a combo of “transcript” and “interview.”) It lands on a new point in that speed-cost-accuracy continuum by (a) automating the conversion instead of hiring humans, and (b) providing a slick, easy way for you to breeze through the results and correct the errors.
“The idea is to take the very best of automated speech recognition [ASR] and push it as far as it will go, then give the user a simple tool to get those last yards,” Trint founder Jeffrey Kofman told me. “By combining a text editor with an audio/video player, we let you quickly search, verify, and correct the output of our ASR.”
The cost is $15 per hour of video—about a quarter of the cost of even the cheapest human web-based services.
You sign up. You upload your audio or video file. You pay in advance: $15 for an hour of converted audio or video. (If you’re willing to commit to doing a lot of this, the cost comes down to $12 an hour.)
You wait maybe five minutes—an insanely short time—and then it’s done. You open the transcription right there in your browser, looking like this:
Already, what you get is good enough that you can search for words or highlight the good parts.
But while the system correctly detects sentences and adds periods, it adds no other punctuation. It makes no attempt to add commas, for example. So you wind up with phrases like “I went to you know the store and bought peaches plums and pickles.” No question marks, either.
Now you read through it, correcting the errors, adding punctuation and paragraph breaks, and identifying speaker names using a pop-up menu. The video above shows what this process is like.
What’s kind of wonderful is how the audio or video playback is integrated with the editing: Wherever you click your mouse, that bit plays back automatically. There’s no Play, Pause, Rewind cycle here; the system always knows what to play when. (You can turn this playback on or off with a keystroke, and also control the playback speed.)
So how long does this cleanup process work? I tried Trint on seven interviews, and the editing generally wound up equaling the length of the interview. Thirty-minute interview, 30 minutes to clean it up.
That will never fly in the professional world. CBS News won’t be using Trint any time soon. But doing the job yourself would take five to ten times the length of the original recording. And if you hired a professional service, you’d pay four to eight times as much.
(For many people, of course, a full cleanup isn’t necessary; often, the point of transcribing an interview is just to skim it to find the good parts. That’s where Trint really shines. It’s simple to read or search for text in a transcript, highlight the juicy parts, and even play back only the highlighted portions. In that case, you can clean up only those few bits.)
To compare the results, I submitted the same interview recording to Trint, to Rev.com ($1 a minute for 24-hour turnaround), and to a high-end pro service. Here’s what I got back:
There are some bugs left to squash in Trint. For example, copy and paste don’t work in the text editor. (I was editing an interview that contained the wordGISHWHESover and over again, a non-word that Trint never once transcribed correctly. I thought I could just paste it in over and over again, but no joy.) The company explains that if you went nuts, pasting in blobs of text, you’d throw off the software’s underlying links between the audio and the text.
Chrome extensions can trip up Trint, too. Every time I inserted a Return to break up a paragraph, some text would disappear. Turning off all my extensions fixed that.
You should also keep in mind that Trint requires clean, clear audio, in which your subject was miked. You can’t feed it the echoey recording of your kid’s school play, for example, and expect decent results. And, as you’d guess, thick accents dramatically impair the accuracy. (When you post the recording, you specify which accent the speaker has; that helps.)
The company acknowledges that it has some work to do, and says that it has big plans for Trint 2.0 this summer.
In the meantime, Trint is here now. It’s not this—
—but it’s this:
—and that’s a new spot on the time-cost-accuracy spectrum. It’s therefore a welcome new weapon in the fight against the costly, time-consuming, soul-sucking act of transcribing the human voice.
More from David Pogue:
Inside the World’s Greatest Scavenger Hunt: Part I
Inside the World’s Greatest Scavenger Hunt: Part 2
Inside the World’s Greatest Scavenger Hunt, Part 3
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David Pogue tested 47 pill-reminder apps to find the best one
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David Pogue, tech columnist for Yahoo Finance, welcomes nontoxic comments in the comments section below. On the web, he’sdavidpogue.com. On Twitter, he’s@pogue. On email, he’s poguester@yahoo.com. You canread all his articles here, or you can sign up toget his columns by email. || David Pogue: The best service for fast, cheap transcriptions: We, the modern people, are tickled with our phones voice-recognition powers. We can ask questions! We can open apps with our voice! You know whos not so tickled? Anyone who records other people talking. Our phones are terrible at transcribing voicesconverting them to text that we can edit. I realize that most people dont care about transcribing audio. But if youre a reporter, producer, editor, author, YouTuber, filmmaker, student, documentarian, researcher, government agency, doctor, lawyer, or police officer, for example, you might really care. Manual transcription of audio and video files is an excruciating, tedious, soul-sucking exercise, and weve doing it pretty much the same way for 50 years. The world waits for a method thats fast, cheap, and accurate. We want this: The holy grail of transcription tools. Unattainable. But you cant have that. Until now, there have been only a few ways to convert a recording into text: Transcribe it manually. You do the typing yourself as you listen. Hit Play, Stop, Rewind, Play, Stop, Rewind, over and over. Thats accurate and cheap, but not fast. Its a royal pain, especially if you have several long interviews to do. Transcribe it manually, with web assistance. This Chrome extension combines an audio player and a text editor, so at least youre spared some of the back-and-forth between two apps as you type it out yourself. Still tedious. Let your phone transcribe it. Yeah, play the recording into your phone, as though youre speaking to it. The results are terrible. Theres no punctuation, no paragraph breaks, and the result needs so much editing, you could have done the job yourself faster. Fast and cheap, but not accurate. (Same thing for the automatic transcription features of YouTube and Google Docs. The results are generally a mess.) Hire a web-based service to do it. Services like Rev.com , Scribie.com , Transcribeme.com , and VoiceBase.com employ human transcriptionists to type out your audio. Usually, they charge between $1 and $3 per minute of recorded audio or videomore if you want same-day turnaround, and even more if you want the transcriber to add time codes, the names of whos speaking, and the little ums and false starts. Bottom line, youre looking at $60 to $150 per hour of audio. Accurate, but not fast or cheap. Hire a professional service. Professional news channels hire professional transcription services like Transcript Associates , Audio Transcription Center , or Professional Transcriptions . You get incredible qualityflawless transcriptions; ums and uhhs and dashes representing pauses; time codes typed in; the speakers names identified. And you get it in a matter of hours. But were talking $220 per hour of audio, or more. Accurate and fairly fast, but not what youd call cheap. Story continues No method gives you everything. This is a review of a new, fifth approach: Trint.com . (The name, were told, is a combo of transcript and interview.) It lands on a new point in that speed-cost-accuracy continuum by (a) automating the conversion instead of hiring humans, and (b) providing a slick, easy way for you to breeze through the results and correct the errors. The idea is to take the very best of automated speech recognition [ASR] and push it as far as it will go, then give the user a simple tool to get those last yards, Trint founder Jeffrey Kofman told me. By combining a text editor with an audio/video player, we let you quickly search, verify, and correct the output of our ASR. The cost is $15 per hour of videoabout a quarter of the cost of even the cheapest human web-based services. How it works You sign up. You upload your audio or video file. You pay in advance: $15 for an hour of converted audio or video. (If youre willing to commit to doing a lot of this, the cost comes down to $12 an hour.) You wait maybe five minutesan insanely short timeand then its done. You open the transcription right there in your browser, looking like this: Now the fun begins: Cleaning up the Trint transcription. Already, what you get is good enough that you can search for words or highlight the good parts. But while the system correctly detects sentences and adds periods, it adds no other punctuation. It makes no attempt to add commas, for example. So you wind up with phrases like I went to you know the store and bought peaches plums and pickles. No question marks, either. Now you read through it, correcting the errors, adding punctuation and paragraph breaks, and identifying speaker names using a pop-up menu. The video above shows what this process is like. Whats kind of wonderful is how the audio or video playback is integrated with the editing: Wherever you click your mouse, that bit plays back automatically. Theres no Play, Pause, Rewind cycle here; the system always knows what to play when. (You can turn this playback on or off with a keystroke, and also control the playback speed.) So how long does this cleanup process work? I tried Trint on seven interviews, and the editing generally wound up equaling the length of the interview. Thirty-minute interview, 30 minutes to clean it up. That will never fly in the professional world. CBS News wont be using Trint any time soon. But doing the job yourself would take five to ten times the length of the original recording. And if you hired a professional service, youd pay four to eight times as much. (For many people, of course, a full cleanup isnt necessary; often, the point of transcribing an interview is just to skim it to find the good parts. Thats where Trint really shines. Its simple to read or search for text in a transcript, highlight the juicy parts, and even play back only the highlighted portions. In that case, you can clean up only those few bits.) How does it compare? To compare the results, I submitted the same interview recording to Trint, to Rev.com ($1 a minute for 24-hour turnaround), and to a high-end pro service. Heres what I got back: Transcriptions compared. Its in beta There are some bugs left to squash in Trint. For example, copy and paste dont work in the text editor. (I was editing an interview that contained the word GISHWHES over and over again, a non-word that Trint never once transcribed correctly. I thought I could just paste it in over and over again, but no joy.) The company explains that if you went nuts, pasting in blobs of text, youd throw off the softwares underlying links between the audio and the text. Chrome extensions can trip up Trint, too. Every time I inserted a Return to break up a paragraph, some text would disappear. Turning off all my extensions fixed that. You should also keep in mind that Trint requires clean, clear audio, in which your subject was miked. You cant feed it the echoey recording of your kids school play, for example, and expect decent results. And, as youd guess, thick accents dramatically impair the accuracy. (When you post the recording, you specify which accent the speaker has; that helps.) The company acknowledges that it has some work to do, and says that it has big plans for Trint 2.0 this summer. In the meantime, Trint is here now. Its not this but its this: and thats a new spot on the time-cost-accuracy spectrum. Its therefore a welcome new weapon in the fight against the costly, time-consuming, soul-sucking act of transcribing the human voice. More from David Pogue: Inside the Worlds Greatest Scavenger Hunt: Part I Inside the Worlds Greatest Scavenger Hunt: Part 2 Inside the Worlds Greatest Scavenger Hunt, Part 3 The David Pogue Review: Windows 10 Creators Update Now I get it: Bitcoin David Pogue tested 47 pill-reminder apps to find the best one David Pogues search for the worlds best air-travel app The little-known iPhone feature that lets blind people see with their fingers David Pogue, tech columnist for Yahoo Finance, welcomes nontoxic comments in the comments section below. On the web, hes davidpogue.com . On Twitter, hes @pogue . On email, hes poguester@yahoo.com. You can read all his articles here , or you can sign up to get his columns by email . View comments || Hedge fund manager David Einhorn escalates battle with GM with UnlockGMValue.com site: David Einhorn's Greenlight Capital(NASDAQ: GLRE)cranked up the pressure on General Motors(NYSE: GM)on Thursday by launching a website that encourages shareholders to vote for the hedge fund's proposal.
GM rejected Greenlight's plan in March to appoint three directors to GM's board and divide the common stock into two classes. Now the hedge fund's newly launched website, UnlockGMValue.com, calls for investors to "VOTE GREEN CARD TODAY."
GM's annual shareholder meeting is scheduled for June 6.GM said in a statementthat Greenlight's proposal "creates an unacceptable level of risk."
Shares of the automaker fell about 1.5 percent in midday trade and are down more than 5 percent this year.
Website landing page
The proposal "would unlock tens of billions of dollars of shareholder value and was specifically designed not to change GM's business strategy, capital allocation priorities or financial policy," according to the website.
Greenlight owns 3.6 percent of GM common stock, making it the fifth largest public shareholder of the auto manufacturer.
The hedge fundreturned just 1 percent in the first quarter, trailing the S&P 500's 6 percent gain, according to the hedge fund's letter sent to shareholders last week.
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• Bitcoin surges above $1,500 to record as more investors bet on 'digital gold' || Hedge fund manager David Einhorn escalates battle with GM with UnlockGMValue.com site: David Einhorn's Greenlight Capital (NASDAQ: GLRE) cranked up the pressure on General Motors (NYSE: GM) on Thursday by launching a website that encourages shareholders to vote for the hedge fund's proposal. GM rejected Greenlight's plan in March to appoint three directors to GM's board and divide the common stock into two classes. Now the hedge fund's newly launched website, UnlockGMValue.com, calls for investors to "VOTE GREEN CARD TODAY." GM's annual shareholder meeting is scheduled for June 6. GM said in a statement that Greenlight's proposal "creates an unacceptable level of risk." Shares of the automaker fell about 1.5 percent in midday trade and are down more than 5 percent this year. Website landing page The proposal "would unlock tens of billions of dollars of shareholder value and was specifically designed not to change GM's business strategy, capital allocation priorities or financial policy," according to the website. Greenlight owns 3.6 percent of GM common stock, making it the fifth largest public shareholder of the auto manufacturer. The hedge fund returned just 1 percent in the first quarter , trailing the S&P 500's 6 percent gain, according to the hedge fund's letter sent to shareholders last week. More From CNBC Why ‘fear and love’ could send gold on a 20 percent rally within months US fintech charter imperiled as Curry leaves Bitcoin surges above $1,500 to record as more investors bet on 'digital gold' || Bitcoin just soared to a new $1,600 high — but the first investor in Snapchat thinks it could hit $500,000 by 2030: (Jeremy Liew.Getty)
Bitcoin has been thetop-performing currencyin the world in six of the past seven years, climbing from zero to a new high value of about $1,600.
But the cryptocurrency isn't anywhere close to its potential, according to Jeremy Liew,the first investor in Snapchat, and Peter Smith, the CEO and cofounder of Blockchain.
In a presentation sent to Business Insider, the duo laid out their case for bitcoin exploding to $500,000 by 2030.
Their argument is based on increased interest in bitcoin, thanks to:
Remittance transfers, or electronic money transfers to foreign countries, havealmost doubledover the past 15 years to 0.76% of gross world product, data from the World Bank shows.
"Expats sending money home have found in bitcoin an inexpensive alternative, and we assume that the percentage of bitcoin-based remittances will sharply increase with greater bitcoin awareness," the two said.
Liew and Smith said increased political uncertainty in the UK, US, and developing nations would help elevate the level of interest in bitcoin.
"We believe bitcoin awareness, high liquidity, ease of transport, and continued market outperformance as geopolitical risks mount will make bitcoin a strong contender for investment at a consumer and investor level," the two said.
Liew and Smith said the percentage of noncash transactions would climb from 15% to 30% in the next 10 years as the world becomes more connected through smartphones.
The global smartphone penetration rate is 63%, and the total number of smartphone users is expected to increase by 1 billion by 2020. The GSMA, a trade body that represents the interests of mobile operators worldwide, says90% of these userswill come from developing countries.
This would make it possible for nearly everyone to have a bank in their pocket, and that should provide a boost for bitcoin as well. Liew and Smith say bitcoin could account for 50% of all noncash transactions.
Here are the basic model drivers Liew and Smith used:
1. A bitcoin price of $1,000 in 2017.
2. Network users will grow by a factor of 61 from now until 2030."Put another way, we need a population of bitcoin users around a quarter of the Chinese population (or 5% of the global population) in 2030 to see bitcoin at $500k," Liew and Smith told Business Insider.Bitcoin's user network grew from 120,000 users in 2013 to 6.5 million users in 2017, or by a factor of about 54, and this could be just the beginning. Growth of that magnitude would mean 400 million users in 2030.
3. The average value of bitcoin held per user will hit $25,000."As institutional investor cash in bitcoin, sophisticated investors trading bitcoin, and bitcoin-based ETFs proliferate, we think the average bitcoin value held will increase to around $25k per Bitcoin holder," Liew and Smith said. Currently, with bitcoin's market cap of $16.4 billion, each of its 6.5 million users holds $2,515 worth of bitcoin on average.
4. Bitcoin's 2030 market cap is decided by the number of bitcoin holders multiplied by the average bitcoin value held.
5. Bitcoin's 2030 supply will be about 20 million.
6. Bitcoin's 2030 price and user count will total $500,000 and 400 million, respectively.The price was found by taking the $10 trillion market cap and dividing it by the fixed supply of 20 million bitcoin.
But a lot could go wrong, too. News surrounding bitcoin has been rather negative as of late.
China, which is responsible fornearly 100% of tradingin bitcoin, has beencracking downon trading. The three biggest exchanges recently announced a 0.2% fee on all transactions andblocked withdrawalsfrom trading accounts.
The US Securities and Exchange Commission also rejected two bitcoin exchange-traded funds and will rule on another one in the future. It's not expected to be approved.
However, Smith says bitcoin is still in its early stages.
"The SEC's ruling wasn't a surprise to us," he told Business Insider. He said that "getting that sort of approval" could take a long time.
"In the meantime, bitcoin is already simple to buy and hold, and as the asset continues to mature, we'll continue to see an increase in the development and deployment of surrounding products," he said.
(Markets Insider)
And while bitcoin hasn't been granted regulatory approval in the US, it is catching on elsewhere. On April 1, the cryptocurrency became alegal payment method in Japan.
Another threat to its future is developers who are threatening to set up a "hard fork," or alternative marketplace for bitcoin. This would result in the split of into bitcoin and bitcoin unlimited. However, Smith isn't worried.
"Bitcoin has strong economic incentives to prevent this," he said. "If the last two years of healthy contention and debate lead to a conclusion, it's that bitcoin is incredibly resilient and stable. In fact, the bitcoin blockchain has operated for seven-plus years with no downtime, a feat no other back-end system operating at this scale can claim."
But the cryptocurrency sees violent price swings uncommon among the more traditional currencies. Bitcoin rallied 20% in the first week of 2017 before crashing 35% on word that China was cracking down on trading.
The cryptocurrency has regained those losses and is trading up about 67% so far this year.
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• Bitcoin busts out to an all-time high above $1,400 || Bitcoin just soared to a new $1,600 high but the first investor in Snapchat thinks it could hit $500,000 by 2030: Jeremy Liew (Jeremy Liew.Getty) Bitcoin has been the top-performing currency in the world in six of the past seven years, climbing from zero to a new high value of about $1,600. But the cryptocurrency isn't anywhere close to its potential, according to Jeremy Liew, the first investor in Snapchat , and Peter Smith, the CEO and cofounder of Blockchain. In a presentation sent to Business Insider, the duo laid out their case for bitcoin exploding to $500,000 by 2030. Their argument is based on increased interest in bitcoin, thanks to: Bitcoin-based remittances Remittance transfers, or electronic money transfers to foreign countries, have almost doubled over the past 15 years to 0.76% of gross world product, data from the World Bank shows. "Expats sending money home have found in bitcoin an inexpensive alternative, and we assume that the percentage of bitcoin-based remittances will sharply increase with greater bitcoin awareness," the two said. Uncertainty Liew and Smith said increased political uncertainty in the UK, US, and developing nations would help elevate the level of interest in bitcoin. "We believe bitcoin awareness, high liquidity, ease of transport, and continued market outperformance as geopolitical risks mount will make bitcoin a strong contender for investment at a consumer and investor level," the two said. Mobile penetration Liew and Smith said the percentage of noncash transactions would climb from 15% to 30% in the next 10 years as the world becomes more connected through smartphones. The global smartphone penetration rate is 63%, and the total number of smartphone users is expected to increase by 1 billion by 2020. The GSMA, a trade body that represents the interests of mobile operators worldwide, says 90% of these users will come from developing countries. This would make it possible for nearly everyone to have a bank in their pocket, and that should provide a boost for bitcoin as well. Liew and Smith say bitcoin could account for 50% of all noncash transactions. Story continues Here are the basic model drivers Liew and Smith used: A bitcoin price of $1,000 in 2017. Network users will grow by a factor of 61 from now until 2030. "Put another way, we need a population of bitcoin users around a quarter of the Chinese population (or 5% of the global population) in 2030 to see bitcoin at $500k," Liew and Smith told Business Insider. Bitcoin's user network grew from 120,000 users in 2013 to 6.5 million users in 2017, or by a factor of about 54, and this could be just the beginning. Growth of that magnitude would mean 400 million users in 2030. The average value of bitcoin held per user will hit $25,000. "As institutional investor cash in bitcoin, sophisticated investors trading bitcoin, and bitcoin-based ETFs proliferate, we think the average bitcoin value held will increase to around $25k per Bitcoin holder," Liew and Smith said. Currently, with bitcoin's market cap of $16.4 billion, each of its 6.5 million users holds $2,515 worth of bitcoin on average. Bitcoin's 2030 market cap is decided by the number of bitcoin holders multiplied by the average bitcoin value held. Bitcoin's 2030 supply will be about 20 million. Bitcoin's 2030 price and user count will total $500,000 and 400 million, respectively. The price was found by taking the $10 trillion market cap and dividing it by the fixed supply of 20 million bitcoin. But a lot could go wrong, too. News surrounding bitcoin has been rather negative as of late. China, which is responsible for nearly 100% of trading in bitcoin, has been cracking down on trading. The three biggest exchanges recently announced a 0.2% fee on all transactions and blocked withdrawals from trading accounts. The US Securities and Exchange Commission also rejected two bitcoin exchange-traded funds and will rule on another one in the future. It's not expected to be approved. However, Smith says bitcoin is still in its early stages. "The SEC's ruling wasn't a surprise to us," he told Business Insider. He said that "getting that sort of approval" could take a long time. "In the meantime, bitcoin is already simple to buy and hold, and as the asset continues to mature, we'll continue to see an increase in the development and deployment of surrounding products," he said. Bitcoin (Markets Insider) And while bitcoin hasn't been granted regulatory approval in the US, it is catching on elsewhere. On April 1, the cryptocurrency became a legal payment method in Japan . Another threat to its future is developers who are threatening to set up a " hard fork ," or alternative marketplace for bitcoin. This would result in the split of into bitcoin and bitcoin unlimited. However, Smith isn't worried. "Bitcoin has strong economic incentives to prevent this," he said. "If the last two years of healthy contention and debate lead to a conclusion, it's that bitcoin is incredibly resilient and stable. In fact, the bitcoin blockchain has operated for seven-plus years with no downtime, a feat no other back-end system operating at this scale can claim." But the cryptocurrency sees violent price swings uncommon among the more traditional currencies. Bitcoin rallied 20% in the first week of 2017 before crashing 35% on word that China was cracking down on trading. The cryptocurrency has regained those losses and is trading up about 67% so far this year. NOW WATCH: People are outraged by a Pepsi ad starring Kendall Jenner here's how the company responded More From Business Insider The price of Bitcoin just hit an all new high here's how easy it is to buy your first one Bitcoin is closing in on $1,500 Bitcoin busts out to an all-time high above $1,400 || Bitcoin just soared to a new $1,600 high — but the first investor in Snapchat thinks it could hit $500,000 by 2030: (Jeremy Liew.Getty)
Bitcoin has been thetop-performing currencyin the world in six of the past seven years, climbing from zero to a new high value of about $1,600.
But the cryptocurrency isn't anywhere close to its potential, according to Jeremy Liew,the first investor in Snapchat, and Peter Smith, the CEO and cofounder of Blockchain.
In a presentation sent to Business Insider, the duo laid out their case for bitcoin exploding to $500,000 by 2030.
Their argument is based on increased interest in bitcoin, thanks to:
Remittance transfers, or electronic money transfers to foreign countries, havealmost doubledover the past 15 years to 0.76% of gross world product, data from the World Bank shows.
"Expats sending money home have found in bitcoin an inexpensive alternative, and we assume that the percentage of bitcoin-based remittances will sharply increase with greater bitcoin awareness," the two said.
Liew and Smith said increased political uncertainty in the UK, US, and developing nations would help elevate the level of interest in bitcoin.
"We believe bitcoin awareness, high liquidity, ease of transport, and continued market outperformance as geopolitical risks mount will make bitcoin a strong contender for investment at a consumer and investor level," the two said.
Liew and Smith said the percentage of noncash transactions would climb from 15% to 30% in the next 10 years as the world becomes more connected through smartphones.
The global smartphone penetration rate is 63%, and the total number of smartphone users is expected to increase by 1 billion by 2020. The GSMA, a trade body that represents the interests of mobile operators worldwide, says90% of these userswill come from developing countries.
This would make it possible for nearly everyone to have a bank in their pocket, and that should provide a boost for bitcoin as well. Liew and Smith say bitcoin could account for 50% of all noncash transactions.
Here are the basic model drivers Liew and Smith used:
1. A bitcoin price of $1,000 in 2017.
2. Network users will grow by a factor of 61 from now until 2030."Put another way, we need a population of bitcoin users around a quarter of the Chinese population (or 5% of the global population) in 2030 to see bitcoin at $500k," Liew and Smith told Business Insider.Bitcoin's user network grew from 120,000 users in 2013 to 6.5 million users in 2017, or by a factor of about 54, and this could be just the beginning. Growth of that magnitude would mean 400 million users in 2030.
3. The average value of bitcoin held per user will hit $25,000."As institutional investor cash in bitcoin, sophisticated investors trading bitcoin, and bitcoin-based ETFs proliferate, we think the average bitcoin value held will increase to around $25k per Bitcoin holder," Liew and Smith said. Currently, with bitcoin's market cap of $16.4 billion, each of its 6.5 million users holds $2,515 worth of bitcoin on average.
4. Bitcoin's 2030 market cap is decided by the number of bitcoin holders multiplied by the average bitcoin value held.
5. Bitcoin's 2030 supply will be about 20 million.
6. Bitcoin's 2030 price and user count will total $500,000 and 400 million, respectively.The price was found by taking the $10 trillion market cap and dividing it by the fixed supply of 20 million bitcoin.
But a lot could go wrong, too. News surrounding bitcoin has been rather negative as of late.
China, which is responsible fornearly 100% of tradingin bitcoin, has beencracking downon trading. The three biggest exchanges recently announced a 0.2% fee on all transactions andblocked withdrawalsfrom trading accounts.
The US Securities and Exchange Commission also rejected two bitcoin exchange-traded funds and will rule on another one in the future. It's not expected to be approved.
However, Smith says bitcoin is still in its early stages.
"The SEC's ruling wasn't a surprise to us," he told Business Insider. He said that "getting that sort of approval" could take a long time.
"In the meantime, bitcoin is already simple to buy and hold, and as the asset continues to mature, we'll continue to see an increase in the development and deployment of surrounding products," he said.
(Markets Insider)
And while bitcoin hasn't been granted regulatory approval in the US, it is catching on elsewhere. On April 1, the cryptocurrency became alegal payment method in Japan.
Another threat to its future is developers who are threatening to set up a "hard fork," or alternative marketplace for bitcoin. This would result in the split of into bitcoin and bitcoin unlimited. However, Smith isn't worried.
"Bitcoin has strong economic incentives to prevent this," he said. "If the last two years of healthy contention and debate lead to a conclusion, it's that bitcoin is incredibly resilient and stable. In fact, the bitcoin blockchain has operated for seven-plus years with no downtime, a feat no other back-end system operating at this scale can claim."
But the cryptocurrency sees violent price swings uncommon among the more traditional currencies. Bitcoin rallied 20% in the first week of 2017 before crashing 35% on word that China was cracking down on trading.
The cryptocurrency has regained those losses and is trading up about 67% so far this year.
NOW WATCH:People are outraged by a Pepsi ad starring Kendall Jenner — here's how the company responded
More From Business Insider
• The price of Bitcoin just hit an all new high — here's how easy it is to buy your first one
• Bitcoin is closing in on $1,500
• Bitcoin busts out to an all-time high above $1,400 || UNBOXED: David Pogue gets a first look at the Samsung Galaxy 8: Yes, kids, it’s that time of year again: Another Samsung Galaxy phone is here! And it’s mostly phenomenal.
Starting at $726—that’s $77more than the equivalent iPhone 7—you get a waterproof, fast, rugged, gorgeous, expandable smartphone that packs a huge screen into a relatively small body. How? By filling the entire front, nearly edge to edge, with screen. No margins.
That also means no physical Home button. The Home button is now apictureon the screen. Works fine, except that where will the fingerprint reader go?
Samsung has opted to put it on the back of the phone—unfortunately, right next to the camera lens. Every time you try to unlock the phone with your finger, you’ll get finger grease on the lens. Oopsie!
The other bad news is Samsung’s philosophy of “there’s no such thing as too much.” The phone is laden with bloatware, including Samsung’s own, pointless duplicates of Android’s browser, photo manager, and so on. And there are, believe it or not, 55 setup steps before you can start using the phone.
That’s out of control.
You should also know that one of the mostdelicious new features of the S8isn’t yet activated: Bixby. That’s Samsung’s smarter version of Siri or Google Now. Once it’s turned on, Samsung says, when you press the dedicated Bixby button on the left edge of the phone, you’ll be able to say, “Email this photo to my mom,” for example, or “Put on my Party playlist and call me an Uber home.” (It will work with only 10 apps at the outset.)
But never mind all that: As long as you don’t mind its new tall, skinny shape (and the letterbox bars that therefore appear when you’re watching videos), you will adore this phone. The camera (basically the same one as on last year’s S7) is terrific. It now come with coolfeatures like Bixby Vision, which recognizes products by their packaging and offers to let you buy them; recognizes famous buildings and gives you information about them; and recognizes text in other languages and tries to translate them.
The phone also charges super fast—basically, 1 minute per percent. 30 minutes, 30%. A “wireless” charging stand is also available.
And you can log in with either a fingerprint, face recognition (people say you can fool it with a photo, but I wasn’t able to), or iris recognition (fails in bright sunlight).
And no, the Galaxy S8 won’t explode on you, like last year’s Note 7 fireball. The battery in the S8 is, alas, smaller than last year’s just for that reason; it will just get you through a day.
In other words, the new Galaxy is hot only in the sense of “lots of people will want it.”
For more,here’s Dan Howley’s full review.
More from David Pogue:
Inside the World’s Greatest Scavenger Hunt: Part I
Inside the World’s Greatest Scavenger Hunt: Part 2
Inside the World’s Greatest Scavenger Hunt, Part 3
The David Pogue Review: Windows 10 Creators Update
Now I get it: Bitcoin
David Pogue tested 47 pill-reminder apps to find the best one
David Pogue’s search for the world’s best air-travel app
The little-known iPhone feature that lets blind people see with their fingers
David Pogue, tech columnist for Yahoo Finance, welcomes nontoxic comments in the comments section below. On the web, he’sdavidpogue.com. On Twitter, he’s@pogue. On email, he’s poguester@yahoo.com. You canread all his articles here, or you can sign up toget his columns by email. || UNBOXED: David Pogue gets a first look at the Samsung Galaxy 8: Yes, kids, it’s that time of year again: Another Samsung Galaxy phone is here! And it’s mostly phenomenal. Starting at $726 —that’s $77 more than the equivalent iPhone 7 —you get a waterproof, fast, rugged, gorgeous, expandable smartphone that packs a huge screen into a relatively small body. How? By filling the entire front, nearly edge to edge, with screen. No margins. That also means no physical Home button. The Home button is now a picture on the screen. Works fine, except that where will the fingerprint reader go? Samsung has opted to put it on the back of the phone—unfortunately, right next to the camera lens. Every time you try to unlock the phone with your finger, you’ll get finger grease on the lens. Oopsie! The other bad news is Samsung’s philosophy of “there’s no such thing as too much.” The phone is laden with bloatware, including Samsung’s own, pointless duplicates of Android’s browser, photo manager, and so on. And there are, believe it or not, 55 setup steps before you can start using the phone. That’s out of control. You should also know that one of the most delicious new features of the S8 isn’t yet activated: Bixby. That’s Samsung’s smarter version of Siri or Google Now. Once it’s turned on, Samsung says, when you press the dedicated Bixby button on the left edge of the phone, you’ll be able to say, “Email this photo to my mom,” for example, or “Put on my Party playlist and call me an Uber home.” (It will work with only 10 apps at the outset.) But never mind all that: As long as you don’t mind its new tall, skinny shape (and the letterbox bars that therefore appear when you’re watching videos), you will adore this phone. The camera (basically the same one as on last year’s S7) is terrific. It now come with cool features like Bixby Vision , which recognizes products by their packaging and offers to let you buy them; recognizes famous buildings and gives you information about them; and recognizes text in other languages and tries to translate them. Story continues The phone also charges super fast—basically, 1 minute per percent. 30 minutes, 30%. A “wireless” charging stand is also available. And you can log in with either a fingerprint, face recognition (people say you can fool it with a photo, but I wasn’t able to), or iris recognition (fails in bright sunlight). And no, the Galaxy S8 won’t explode on you, like last year’s Note 7 fireball. The battery in the S8 is, alas, smaller than last year’s just for that reason; it will just get you through a day. In other words, the new Galaxy is hot only in the sense of “lots of people will want it.” For more, here’s Dan Howley’s full review . More from David Pogue: Inside the World’s Greatest Scavenger Hunt: Part I Inside the World’s Greatest Scavenger Hunt: Part 2 Inside the World’s Greatest Scavenger Hunt, Part 3 The David Pogue Review: Windows 10 Creators Update Now I get it: Bitcoin David Pogue tested 47 pill-reminder apps to find the best one David Pogue’s search for the world’s best air-travel app The little-known iPhone feature that lets blind people see with their fingers David Pogue, tech columnist for Yahoo Finance, welcomes nontoxic comments in the comments section below. On the web, he’s davidpogue.com . On Twitter, he’s @pogue . On email, he’s poguester@yahoo.com. You can read all his articles here , or you can sign up to get his columns by email . || Big-name apps for Apple Watch seem to be disappearing: On Monday, AppleInsider noted that the latest updates for the Google ( GOOGL , GOOG ) Maps, eBay ( EBAY ), Amazon ( AMZN ), and Target ( TGT ) apps were missing one element they used to have: companion apps for the Apple Watch. Google later tweeted that it intends to bring the Apple Watch app back at some point. But the larger question remains: Whats going on? Are these changes a canary in the coal mine, indicating waning interest in developing for the Apple Watch? In the last year, the Up bands ceased production, the Pebble Watch is no more , and Fitbit laid off 6% of its staff ; maybe the world just isnt as excited about wearables as the industry had hoped. Or is this just a temporary hiccup that means nothing? The fact that these high-profile removals have gone largely unnoticed could be a sign that the apps simply were not widely used, says the AppleInsider story. On Tuesday, during Apples financial conference call, CEO Tim Cook said that Apple Watch sales have nearly doubled since last year (in six of our 10 top markets, whatever that means). Yet the company still doesnt disclose how many Watches it has sold. You still see few Apple Watches on wrists outside of the early-adopter and techie crowd, you still have to take the thing off to charge it every night, and (as a result) it still cant track your sleep, as the latest Fitbits do with astonishing accuracy. So which is it? A sign of impending doom, or a minor wobble in the timeline that means very little? Tune in five years from now to find out! More from David Pogue: Inside the Worlds Greatest Scavenger Hunt: Part I Inside the Worlds Greatest Scavenger Hunt: Part 2 Inside the Worlds Greatest Scavenger Hunt, Part 3 The David Pogue Review: Windows 10 Creators Update Now I get it: Bitcoin David Pogue tested 47 pill-reminder apps to find the best one David Pogues search for the worlds best air-travel app The little-known iPhone feature that lets blind people see with their fingers David Pogue, tech columnist for Yahoo Finance, welcomes nontoxic comments in the comments section below. On the web, hes davidpogue.com . On Twitter, hes @pogue . On email, hes poguester@yahoo.com. You can read all his articles here , or you can sign up to get his columns by email . || Big-name apps for Apple Watch seem to be disappearing: On Monday,AppleInsidernoted that the latest updates for the Google (GOOGL,GOOG) Maps, eBay (EBAY), Amazon (AMZN), and Target (TGT) apps were missing one element they used to have: companion apps for the Apple Watch.
Google later tweeted that it intends to bring the Apple Watch app back at some point. But the larger question remains: What’s going on?
Are these changes a canary in the coal mine, indicating waning interest in developing for the Apple Watch? In the last year, theUp bands ceased production,thePebble Watch is no more, andFitbit laid off 6% of its staff; maybe the world just isn’t as excited about wearables as the industry had hoped.
Or is this just a temporary hiccup that means nothing? “The fact that these high-profile removals have gone largely unnoticed could be a sign that the apps simply were not widely used,” says the AppleInsider story.
On Tuesday, during Apple’s financial conference call, CEO Tim Cook said that Apple Watch sales have nearly doubled since last year (“in six of our 10 top markets,” whatever that means). Yet the company still doesn’t disclose how many Watches it has sold. You still see few Apple Watches on wrists outside of the early-adopter and techie crowd, you still have to take the thing off to charge it every night, and (as a result) it still can’t track your sleep, as the latest Fitbits do with astonishing accuracy.
So which is it? A sign of impending doom, or a minor wobble in the timeline that means very little?
Tune in five years from now to find out!
More from David Pogue:
Inside the World’s Greatest Scavenger Hunt: Part I
Inside the World’s Greatest Scavenger Hunt: Part 2
Inside the World’s Greatest Scavenger Hunt, Part 3
The David Pogue Review: Windows 10 Creators Update
Now I get it: Bitcoin
David Pogue tested 47 pill-reminder apps to find the best one
David Pogue’s search for the world’s best air-travel app
The little-known iPhone feature that lets blind people see with their fingers
David Pogue, tech columnist for Yahoo Finance, welcomes nontoxic comments in the comments section below. On the web, he’sdavidpogue.com. On Twitter, he’s@pogue. On email, he’s poguester@yahoo.com. You canread all his articles here, or you can sign up toget his columns by email. || Bitcoin Services Inc. Provides Shareholder Update: KALAMAZOO, MI / ACCESSWIRE / May 3, 2017 /Bitcoin Services Inc. (OTC PINK: BTSC) announced today that it began mining Monero in the 1st quarter of 2017. Monero is currently one of the top digital currencies with a market cap of over 300 mil USD. The Company is pleased to announce their earnings on May 12, 2017, and a launch of a new website in the upcoming weeks. In addition, Bitcoin Services Inc. has begun developing a new Crypto currency wallet that will let users safely store multiple digital currencies in one wallet. Bitcoin Services Inc. would also like to congratulate all Bitcoin users for reaching a historic all time high on April 2nd of 2017.
About Bitcoin Services Inc.:
Our business operations are Internet based to the consumer and consist of two separate streams, as follows: (1) bitcoin mining, and (2) blockchain software development. The principal products and services are the mining of bitcoins, and the development and sale of blockchain software. The market for these services and products is worldwide, and sold and marketed on the Internet.
Safe Harbor Statement:
This release contains forward-looking statements within the meaning of Section 27a of the Securities Act of 1933, as amended and section 21e of the Securities and Exchange Act of 1934, as amended. Those statements include the intent, belief, or current expectations of the company and its management team. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. Accomplishing the strategy described herein is significantly dependent upon numerous factors, many that are not in management's control. Some of these factors include the ability of the company to raise sufficient capital, attract qualified management, attract new customers, and effectively compete against similar companies.
CONTACT:
info@bitcoinservicesinc.com
SOURCE: Bitcoin Services Inc. || Bitcoin Services Inc. Provides Shareholder Update: KALAMAZOO, MI / ACCESSWIRE / May 3, 2017 / Bitcoin Services Inc. (OTC PINK: BTSC) announced today that it began mining Monero in the 1st quarter of 2017. Monero is currently one of the top digital currencies with a market cap of over 300 mil USD. The Company is pleased to announce their earnings on May 12, 2017, and a launch of a new website in the upcoming weeks. In addition, Bitcoin Services Inc. has begun developing a new Crypto currency wallet that will let users safely store multiple digital currencies in one wallet. Bitcoin Services Inc. would also like to congratulate all Bitcoin users for reaching a historic all time high on April 2nd of 2017. About Bitcoin Services Inc.: Our business operations are Internet based to the consumer and consist of two separate streams, as follows: (1) bitcoin mining, and (2) blockchain software development. The principal products and services are the mining of bitcoins, and the development and sale of blockchain software. The market for these services and products is worldwide, and sold and marketed on the Internet. Safe Harbor Statement: This release contains forward-looking statements within the meaning of Section 27a of the Securities Act of 1933, as amended and section 21e of the Securities and Exchange Act of 1934, as amended. Those statements include the intent, belief, or current expectations of the company and its management team. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. Accomplishing the strategy described herein is significantly dependent upon numerous factors, many that are not in management's control. Some of these factors include the ability of the company to raise sufficient capital, attract qualified management, attract new customers, and effectively compete against similar companies. Story continues CONTACT: info@bitcoinservicesinc.com SOURCE : Bitcoin Services Inc. || Bitcoin Services Inc. Provides Shareholder Update: KALAMAZOO, MI / ACCESSWIRE / May 3, 2017 /Bitcoin Services Inc. (OTC PINK: BTSC) announced today that it began mining Monero in the 1st quarter of 2017. Monero is currently one of the top digital currencies with a market cap of over 300 mil USD. The Company is pleased to announce their earnings on May 12, 2017, and a launch of a new website in the upcoming weeks. In addition, Bitcoin Services Inc. has begun developing a new Crypto currency wallet that will let users safely store multiple digital currencies in one wallet. Bitcoin Services Inc. would also like to congratulate all Bitcoin users for reaching a historic all time high on April 2nd of 2017.
About Bitcoin Services Inc.:
Our business operations are Internet based to the consumer and consist of two separate streams, as follows: (1) bitcoin mining, and (2) blockchain software development. The principal products and services are the mining of bitcoins, and the development and sale of blockchain software. The market for these services and products is worldwide, and sold and marketed on the Internet.
Safe Harbor Statement:
This release contains forward-looking statements within the meaning of Section 27a of the Securities Act of 1933, as amended and section 21e of the Securities and Exchange Act of 1934, as amended. Those statements include the intent, belief, or current expectations of the company and its management team. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. Accomplishing the strategy described herein is significantly dependent upon numerous factors, many that are not in management's control. Some of these factors include the ability of the company to raise sufficient capital, attract qualified management, attract new customers, and effectively compete against similar companies.
CONTACT:
info@bitcoinservicesinc.com
SOURCE: Bitcoin Services Inc. || U.S. SEC approves request to list quadruple-leveraged ETFs: (Adds NYSE comment) By Trevor Hunnicutt NEW YORK, May 2 (Reuters) - The Securities and Exchange Commission on Tuesday approved a request to trade quadruple-leveraged exchange-traded funds, marking a first for the growing market for such products in the United States. The request to list ForceShares Daily 4X US Market Futures Long Fund, under the ticker UP, and ForceShares Daily 4X US Market Futures Short Fund, under the ticker DOWN, was filed by Intercontinental Exchange Inc's NYSE Arca exchange. One of the funds is designed to deliver 400 percent of the daily performance of S&P 500 stock index futures, while another fund will aim to deliver four times the inverse of that benchmark. That means a fund could go up 8 percent on a day the index it tracks falls by 2 percent. ETFs offering three times leverage already trade in the United States, but more reactive products have been limited to listing in Europe. "We're excited about it," said Sam Masucci, chief executive officer at Exchange Traded Managers Group LLC, which is distributing the product, though he said the product is "not going to be for everybody. "But for those people that are looking for the leveraged exposure to the S&P and they're not looking to do it by way of a futures product here you have a publicly listed security," Masucci said. Regulators' move to approve the products comes after a difficult time for sponsors of more exotic ETFs. Last year, the SEC presented draft rules that would restrict the use of derivatives, which was seen crimping some fund managers' ability to keep highly leveraged products on the market. In March, the agency ruled against an application by investors Cameron and Tyler Winklevoss to bring the first Bitcoin ETF to market, although the SEC recently said it would review that decision. The U.S. Senate voted on Tuesday to confirm attorney Jay Clayton to head the SEC, a change in leadership that could prompt a change in tack by the agency through which investment products come to market. Douglas Yones, a top NYSE ETF official, said in an emailed statement that he hopes the approval "paves the way for us to work with other leveraged product issuers over the rest of the year." The product sponsor could not immediately be reached for comment. (Reporting by Trevor Hunnicutt; Editing by Leslie Adler & Simon Cameron-Moore) View comments
[Social Media Buzz]
#Bitcoin mining from 0.00#1BTC – #AutomaticDailypayments – coinfactory.io: COINFACTORY= 05/05/2017 (WITHDRAW… http://dlvr.it/P4XFbg pic.twitter.com/AlEJPJj57k || One Bitcoin now worth $1558.02@bitstamp. High $1578.97. Low $1505.00. Market Cap $25.415 Billion #bitcoin pic.twitter.com/bHLJg3FQER || 9:00~10:00のBitcoin市場はしっかりだったようだ。
直近の市場の平均Bitcoinの価格は177636.0円
変化率は0.012%
11:00までは反騰?
【AIコメントです:テスト中@パターンB】
#bitcoin
#AI || #BITCOIN ahora:
$1,572.20 USD
€1,434.36 EUR
$29,893.36 MXN
@Bitso $31,100.00 MX...
|
1596.71, 1723.35, 1755.36, 1787.13, 1848.57, 1724.24, 1804.91, 1808.91, 1738.43, 1734.45
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Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 7418.49, 7711.11, 8424.27, 8181.39, 7951.58, 8165.01, 8192.15, 8218.46, 8180.48, 7780.44, 7624.91, 7567.15, 7434.39, 7032.85, 7068.48, 6951.80, 6753.12, 6305.80, 6568.23, 6184.71, 6295.73, 6322.69, 6297.57, 6199.71, 6308.52, 6334.73, 6580.63, 6423.76, 6506.07, 6308.53, 6488.76, 6376.71, 6534.88, 6719.96, 6763.19, 6707.26, 6884.64, 7096.28, 7047.16, 6978.23, 7037.58, 7193.25, 7272.72, 7260.06, 7361.66, 6792.83, 6529.17, 6467.07, 6225.98, 6300.86, 6329.70, 6321.20, 6351.80, 6517.31, 6512.71, 6543.20, 6517.18, 6281.20, 6371.30, 6398.54, 6519.67, 6734.95, 6721.98, 6710.63, 6595.41, 6446.47, 6495.00, 6676.75, 6644.13, 6601.96, 6625.56, 6589.62, 6556.10, 6502.59, 6576.69, 6622.48, 6588.31, 6602.95, 6652.23, 6642.64, 6585.53, 6256.24, 6274.58, 6285.99, 6290.93, 6596.54, 6596.11, 6544.43, 6476.71, 6465.41.
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[Bitcoin Technical Analysis for 2018-10-19]
Volume: 3578870000, RSI (14-day): 47.09, 50-day EMA: 6580.65, 200-day EMA: 7196.14
[Wider Market Context]
Gold Price: 1225.30, Gold RSI: 60.79
Oil Price: 69.12, Oil RSI: 40.03
[Recent News (last 7 days)]
Braiins OS: An Open Source Alternative to Bitcoin Mining Firmware [UPDATED]: Braiinswants to redefine open-source mining software.
The company behind Slush Pool recentlyrolled outthe initial release of its ASIC miner firmware: Braiins OS. The operating system is advertised as “the very first fully open-source, Linux-based system for cryptocurrency embedded devices,” an alternative to the factory-default firmware that comes with most popular mining hardware.
Upon visiting the project’s website, visitors are greeted with a clear message, a mantra that resonates with its related industry’s ethos: “Take back control.”
Further down on its website, the project invites community members to “[say] goodbye to backdoors, closed systems and hidden features.” This promise of transparency is an implicit reference to the contrasting opacity of its biggest competitor’s mining software.
Bitmain advertises its software as open source. But Jan Čapek, CEO of Braiins, the company behind the eponymous OS and Slush Pool, explained toBitcoin Magazinethat too many features of Bitmain’s code are covertly closed off, making it impossible to provide a proper software image — a record of the state of the mining system at a given time.
Essentially, Čapek indicates that a few key components are missing to make Bitmain’s code full open source, such as the FPGA code. Without these pieces, users cannot parse together a full image of the mining client.
“The problem is that most of the people out there are not able to build a complete S9 image as it is not quite obvious that all the components are provided by Bitmain. To build a complete system you need the first stage bootloader (sometimes called SPL), u-boot, Linux kernel, Linux system (buildroot/openwrt?), FPGA bitstream (+ sources) and cgminer sources. So, there is quite more things that are to be reviewed that are still closed source and open quite a few questions,” he said, “For example, why is the FPGA code still closed?”
Even without these closed systems, other softwares may include “backdoors” or “hidden features” — a practice that Braiins OS rejects as well.
In Bitmain’s case, there was a backdoor baked into the code.
Known asAntbleed, thefeaturewas introduced in July of 2016, and it gave Bitmain the ability to remotely shutdown most of its active Antminer hardware, most notably the S9. Bitmain claimed that the backdoor was there so that it could police stolen or hijacked hardware, tellingBitcoin Magazinethat the company “never intended to use this feature on any Antminer without authorization from its owner.”
Regardless of its purposes, stated or otherwise, Antbleed was the primary motivation behind Braiins OS, Čapek said.
Braiins OS’s initial release leverages OpenWrt, “a generic embedded Linux distribution that allows [it] a great deal of flexibility,” Čapek said, and itscentral meta projectis open to developers on GitHub.
Per Čapek’s earlier statement, the software offers a more complete, customizable kit than the factory defaults that companies like Bitmain provide with their hardware. “None of the manufacturers provide an easy, documented or central way of building an image and running it on their hardware,” he said in our interview, chalking this up to “probably [a] lack of transparency.”
As an alternative, Braiins OS “can be used to build the entire firmware image,” he continued. This includes a tool to configure and run this firmware for specified hardware, something its competitors currently don’t offer.
For its rollout, Braiins OS will only be compatible with the Antminer S9 and DragonMint TI, as those are the most commonly used mining rigs currently in use. Going forward, the team plans to open up integration for other devices as well, including the Whatsminer M10.
The project will also look to integrate with more mining pools as it gains traction among developers. Currently, “Slush Pool is one of the few pools that supports the version rolling extension of stratum protocol (BIP310),” Čapek said.
This is in part due to caution. Čapek told us that Braiins OS didn’t want to have too many different images installed for the rollout “just in case there were any serious issues with transitions from factory firmware.” Seeing as this is “an alpha release,” he continued, “massive deployment was not desirable.”
In the meantime, the team looks forward to the community enriching its project, and Čapek indicated that they’ll be taking notes on developer activity in order to improve the project in future releases.
“Currently, we are already gathering feedback from the community. The next release with regards to S9 will bring additional features like per hashboard frequency and voltage configuration.”
Update, Friday October 19th:"Braiins todayrevealedthat they verified the existence of AsicBoost-functionality in Bitmain’s S9 ASICs. For unknown (but possibly patent-related) reasons, this feature is not made available to regular users, however. The Braiins team plans to unlock this feature with BraiinsOS, which would mean that Bitmain S9 owners will be able to increase the effectiveness of their machines by more than ten percent."
An earlier version of this article incorrectly indicated that Braiins is an offshoot of Satoshi Labs. The article has since been corrected.
This article originally appeared onBitcoin Magazine. || Braiins OS: An Open Source Alternative to Bitcoin Mining Firmware [UPDATED]: Braiinswants to redefine open-source mining software.
The company behind Slush Pool recentlyrolled outthe initial release of its ASIC miner firmware: Braiins OS. The operating system is advertised as “the very first fully open-source, Linux-based system for cryptocurrency embedded devices,” an alternative to the factory-default firmware that comes with most popular mining hardware.
Upon visiting the project’s website, visitors are greeted with a clear message, a mantra that resonates with its related industry’s ethos: “Take back control.”
Further down on its website, the project invites community members to “[say] goodbye to backdoors, closed systems and hidden features.” This promise of transparency is an implicit reference to the contrasting opacity of its biggest competitor’s mining software.
Bitmain advertises its software as open source. But Jan Čapek, CEO of Braiins, the company behind the eponymous OS and Slush Pool, explained toBitcoin Magazinethat too many features of Bitmain’s code are covertly closed off, making it impossible to provide a proper software image — a record of the state of the mining system at a given time.
Essentially, Čapek indicates that a few key components are missing to make Bitmain’s code full open source, such as the FPGA code. Without these pieces, users cannot parse together a full image of the mining client.
“The problem is that most of the people out there are not able to build a complete S9 image as it is not quite obvious that all the components are provided by Bitmain. To build a complete system you need the first stage bootloader (sometimes called SPL), u-boot, Linux kernel, Linux system (buildroot/openwrt?), FPGA bitstream (+ sources) and cgminer sources. So, there is quite more things that are to be reviewed that are still closed source and open quite a few questions,” he said, “For example, why is the FPGA code still closed?”
Even without these closed systems, other softwares may include “backdoors” or “hidden features” — a practice that Braiins OS rejects as well.
In Bitmain’s case, there was a backdoor baked into the code.
Known asAntbleed, thefeaturewas introduced in July of 2016, and it gave Bitmain the ability to remotely shutdown most of its active Antminer hardware, most notably the S9. Bitmain claimed that the backdoor was there so that it could police stolen or hijacked hardware, tellingBitcoin Magazinethat the company “never intended to use this feature on any Antminer without authorization from its owner.”
Regardless of its purposes, stated or otherwise, Antbleed was the primary motivation behind Braiins OS, Čapek said.
Braiins OS’s initial release leverages OpenWrt, “a generic embedded Linux distribution that allows [it] a great deal of flexibility,” Čapek said, and itscentral meta projectis open to developers on GitHub.
Per Čapek’s earlier statement, the software offers a more complete, customizable kit than the factory defaults that companies like Bitmain provide with their hardware. “None of the manufacturers provide an easy, documented or central way of building an image and running it on their hardware,” he said in our interview, chalking this up to “probably [a] lack of transparency.”
As an alternative, Braiins OS “can be used to build the entire firmware image,” he continued. This includes a tool to configure and run this firmware for specified hardware, something its competitors currently don’t offer.
For its rollout, Braiins OS will only be compatible with the Antminer S9 and DragonMint TI, as those are the most commonly used mining rigs currently in use. Going forward, the team plans to open up integration for other devices as well, including the Whatsminer M10.
The project will also look to integrate with more mining pools as it gains traction among developers. Currently, “Slush Pool is one of the few pools that supports the version rolling extension of stratum protocol (BIP310),” Čapek said.
This is in part due to caution. Čapek told us that Braiins OS didn’t want to have too many different images installed for the rollout “just in case there were any serious issues with transitions from factory firmware.” Seeing as this is “an alpha release,” he continued, “massive deployment was not desirable.”
In the meantime, the team looks forward to the community enriching its project, and Čapek indicated that they’ll be taking notes on developer activity in order to improve the project in future releases.
“Currently, we are already gathering feedback from the community. The next release with regards to S9 will bring additional features like per hashboard frequency and voltage configuration.”
Update, Friday October 19th:"Braiins todayrevealedthat they verified the existence of AsicBoost-functionality in Bitmain’s S9 ASICs. For unknown (but possibly patent-related) reasons, this feature is not made available to regular users, however. The Braiins team plans to unlock this feature with BraiinsOS, which would mean that Bitmain S9 owners will be able to increase the effectiveness of their machines by more than ten percent."
An earlier version of this article incorrectly indicated that Braiins is an offshoot of Satoshi Labs. The article has since been corrected.
This article originally appeared onBitcoin Magazine. || Braiins OS: An Open Source Alternative to Bitcoin Mining Firmware [UPDATED]: Braiins OS Braiins wants to redefine open-source mining software. The company behind Slush Pool recently rolled out the initial release of its ASIC miner firmware: Braiins OS. The operating system is advertised as “the very first fully open-source, Linux-based system for cryptocurrency embedded devices,” an alternative to the factory-default firmware that comes with most popular mining hardware. Upon visiting the project’s website, visitors are greeted with a clear message, a mantra that resonates with its related industry’s ethos: “Take back control.” Rethinking Open Source in an Open Source Space Further down on its website, the project invites community members to “[say] goodbye to backdoors, closed systems and hidden features.” This promise of transparency is an implicit reference to the contrasting opacity of its biggest competitor’s mining software. Bitmain advertises its software as open source. But Jan Čapek, CEO of Braiins, the company behind the eponymous OS and Slush Pool, explained to Bitcoin Magazine that too many features of Bitmain’s code are covertly closed off, making it impossible to provide a proper software image — a record of the state of the mining system at a given time. Essentially, Čapek indicates that a few key components are missing to make Bitmain’s code full open source, such as the FPGA code. Without these pieces, users cannot parse together a full image of the mining client. “The problem is that most of the people out there are not able to build a complete S9 image as it is not quite obvious that all the components are provided by Bitmain. To build a complete system you need the first stage bootloader (sometimes called SPL), u-boot, Linux kernel, Linux system (buildroot/openwrt?), FPGA bitstream (+ sources) and cgminer sources. So, there is quite more things that are to be reviewed that are still closed source and open quite a few questions,” he said, “For example, why is the FPGA code still closed?” Even without these closed systems, other softwares may include “backdoors” or “hidden features” — a practice that Braiins OS rejects as well. Story continues In Bitmain’s case, there was a backdoor baked into the code. Known as Antbleed , the feature was introduced in July of 2016, and it gave Bitmain the ability to remotely shutdown most of its active Antminer hardware, most notably the S9. Bitmain claimed that the backdoor was there so that it could police stolen or hijacked hardware, telling Bitcoin Magazine that the company “never intended to use this feature on any Antminer without authorization from its owner.” Regardless of its purposes, stated or otherwise, Antbleed was the primary motivation behind Braiins OS, Čapek said. A Bid For Transparency, Flexibility Braiins OS’s initial release leverages OpenWrt, “a generic embedded Linux distribution that allows [it] a great deal of flexibility,” Čapek said, and its central meta project is open to developers on GitHub. Per Čapek’s earlier statement, the software offers a more complete, customizable kit than the factory defaults that companies like Bitmain provide with their hardware. “None of the manufacturers provide an easy, documented or central way of building an image and running it on their hardware,” he said in our interview, chalking this up to “probably [a] lack of transparency.” As an alternative, Braiins OS “can be used to build the entire firmware image,” he continued. This includes a tool to configure and run this firmware for specified hardware, something its competitors currently don’t offer. For its rollout, Braiins OS will only be compatible with the Antminer S9 and DragonMint TI, as those are the most commonly used mining rigs currently in use. Going forward, the team plans to open up integration for other devices as well, including the Whatsminer M10. The project will also look to integrate with more mining pools as it gains traction among developers. Currently, “Slush Pool is one of the few pools that supports the version rolling extension of stratum protocol (BIP310),” Čapek said. This is in part due to caution. Čapek told us that Braiins OS didn’t want to have too many different images installed for the rollout “just in case there were any serious issues with transitions from factory firmware.” Seeing as this is “an alpha release,” he continued, “massive deployment was not desirable.” In the meantime, the team looks forward to the community enriching its project, and Čapek indicated that they’ll be taking notes on developer activity in order to improve the project in future releases. “Currently, we are already gathering feedback from the community. The next release with regards to S9 will bring additional features like per hashboard frequency and voltage configuration.” Update, Friday October 19th: "Braiins today revealed that they verified the existence of AsicBoost-functionality in Bitmain’s S9 ASICs. For unknown (but possibly patent-related) reasons, this feature is not made available to regular users, however. The Braiins team plans to unlock this feature with BraiinsOS, which would mean that Bitmain S9 owners will be able to increase the effectiveness of their machines by more than ten percent." An earlier version of this article incorrectly indicated that Braiins is an offshoot of Satoshi Labs. The article has since been corrected. This article originally appeared on Bitcoin Magazine . || Report: Despite Price Volatility Blockchain and Crypto Jobs Are In Demand: Glassdoor Jobs Glassdoor Economic Research is delivering much needed good news to the crypto community saying that despite extreme price volatility and regulatory uncertainty, the number of crypto jobs in the blockchain and cryptocurrency sector has risen by 300 percent since the same time last year. Saying that “the professionalism of the space has accelerated,” the report notes that “continued growth in job openings suggests that blockchain employers remain confident in the market opportunity and continue to make long-term investments in their teams.” Using their substantial job search site to search out blockchain and cryptocurrencies jobs, Glassdoor Research learned that, in August 2018, there were 1,775 unique blockchain-related job openings in the U.S. By comparison, in August last year, there were only 446 similar job listings, representing a 300 percent year-over-year increase. Glassdoor report “Hiring and jobs is a much more stable metric to observe when looking at the health of an industry, compared to the stock market or currency values that can, and do, fluctuate daily,” Glassdoor economist Daniel Zhao, who worked on the study, told Bitcoin Magazine : “What the strong surge in job growth that we see on Glassdoor shows is that there is a clear interest in investing in workers with skills related to Bitcoin and other digital currencies.” "Bitcoin-Related" Skills Are in Demand One of the report’s surprises is that more cryptocurrency jobs were created than blockchain jobs, as what Zhao referred to as "Bitcoin-related" skills were the most in demand, despite recent price volatility. “There’s been a lot of Bitcoin buzz among financial investors as well as the general public that’s grown quickly over the last few years. What our research found was a 300 percent growth in online job postings for Bitcoin-related jobs compared to the previous year, which is a significant surge. “Although we’ll continue to watch and see where Bitcoin is headed, for employers to make these investments is a sign that they see it as a growing industry,” he stated. Story continues Who's Looking and What For As far as job occupations listed, engineering, technology and science jobs made up 55 percent of the jobs posted. Software engineers were most in demand, accounting for almost 20 percent of the technical job listings. Others on the list included analyst relations manager, product manager, risk analyst and marketing manager. As can be seen in the following chart from the report, IBM and ConsenSys had the most blockchain- and cryptocurrency-related job listings, while other companies like Coinbase and Kraken were also hiring. Top 15 Employers Hiring for Blockchain-Related Jobs Glassdoor report The report notes that some consulting or professional services firms like Accenture and KPMG are hiring people specifically to advise their clients on how to apply new blockchain technologies. Better Pay for Blockchain Jobs Likely due in part to a competitive market where growing demand is outstrippng the supply of trained workers, companies hiring are offering higher than average compensation. The median salary for crypto jobs is $84,884, well above the median salary for all U.S. jobs. Zhao added: “Our data found that not only is there a growing interest for Bitcoin-related talent among companies both large and small and at companies across the country, but these roles often pay more than the U.S. median salaries. We found Bitcoin roles pay $84,884 per year, which is about 62 percent more than the U.S. median salary.” Cities With the Greatest Demand New York City and San Francisco represent a disproportionate share of blockchain-related jobs at 24 percent and 21 percent of total job openings. San Jose (6 percent), Chicago (4 percent) and Seattle (4 percent) round out the top five cities for blockchain job openings. “I also found it interesting to see the spread of Bitcoin-related opportunities across the United States. Although it’s no surprise to see that most job opportunities reside in the financial hub of New York, our data shows that companies across the U.S. and even several mid-sized cities are looking for this type of talent. What we’ve seen is that in some of these mid-sized cities, local organizations have established initiatives to help put them on the map for Bitcoin and cryptocurrency talent,” said Zhao. Internationally, London topped the list with 189 blockchain-related job openings, followed by Singapore, Toronto and Hong Kong. Is Bitcoin Here to Stay? Asked if he thinks this growth in jobs is unusual compared to other sectors, Zhao said: “The growth in the blockchain industry has looked like the broader tech boom. Similar to the technology industry, Bitcoin-related jobs are concentrated in certain talent hubs, with higher than average salaries for workers as investment pours in. Plus, both startups and larger companies alike are investing in this sector — all things we’ve seen shape the tech job market.” With continuing market volatility and uncertainty around what regulators plan to do, it’s a legitimate question to ask if the cryptocurrency industry is here to stay for the long haul. Zhao is confident that it is, conveying that investing in jobs is an excellent indicator: “Although there’s often news about the fluctuating prices of digital currencies, hiring is a long-term decision that an organization sees a true business value in hiring people with specific skill sets that can contribute to the business. It’s a decision not made on a whim.” This article originally appeared on Bitcoin Magazine . || Report: Despite Price Volatility Blockchain and Crypto Jobs Are In Demand: Glassdoor Economic Researchis delivering much needed good news to the crypto community saying that despite extreme price volatility and regulatory uncertainty, the number of crypto jobs in the blockchain and cryptocurrency sector has risen by 300 percent since the same time last year.
Saying that “the professionalism of the space has accelerated,” the report notes that “continued growth in job openings suggests that blockchain employers remain confident in the market opportunity and continue to make long-term investments in their teams.”
Using their substantial job searchsiteto search out blockchain and cryptocurrencies jobs, Glassdoor Research learned that, in August 2018, there were 1,775 unique blockchain-related job openings in the U.S. By comparison, in August last year, there were only 446 similar job listings, representing a 300 percent year-over-year increase.
“Hiring and jobs is a much more stable metric to observe when looking at the health of an industry, compared to the stock market or currency values that can, and do, fluctuate daily,” Glassdoor economist Daniel Zhao, who worked on the study, toldBitcoin Magazine:
“What the strong surge in job growth that we see on Glassdoor shows is that there is a clear interest in investing in workers with skills related to Bitcoin and other digital currencies.”
One of the report’s surprises is that more cryptocurrency jobs were created than blockchain jobs, as what Zhao referred to as "Bitcoin-related" skills were the most in demand, despite recent price volatility.
“There’s been a lot of Bitcoin buzz among financial investors as well as the general public that’s grown quickly over the last few years. What our research found was a 300 percent growth in online job postings for Bitcoin-related jobs compared to the previous year, which is a significant surge.
“Although we’ll continue to watch and see where Bitcoin is headed, for employers to make these investments is a sign that they see it as a growing industry,” he stated.
As far as job occupations listed, engineering, technology and science jobs made up 55 percent of the jobs posted.
Software engineers were most in demand, accounting for almost 20 percent of the technical job listings.
Others on the list included analyst relations manager, product manager, risk analyst and marketing manager.
As can be seen in the following chart from the report, IBM and ConsenSys had the most blockchain- and cryptocurrency-related job listings, while other companies like Coinbase and Kraken were also hiring.
The report notes that some consulting or professional services firms like Accenture and KPMG are hiring people specifically to advise their clients on how to apply new blockchain technologies.
Likely due in part to a competitive market where growing demand is outstrippng the supply of trained workers, companies hiring are offering higher than average compensation. The median salary for crypto jobs is $84,884, well above the median salary for all U.S. jobs.
Zhao added: “Our data found that not only is there a growing interest for Bitcoin-related talent among companies both large and small and at companies across the country, but these roles often pay more than the U.S. median salaries. We found Bitcoin roles pay $84,884 per year, which is about 62 percent more than the U.S. median salary.”
New York City and San Francisco represent a disproportionate share of blockchain-related jobs at 24 percent and 21 percent of total job openings. San Jose (6 percent), Chicago (4 percent) and Seattle (4 percent) round out the top five cities for blockchain job openings.
“I also found it interesting to see the spread of Bitcoin-related opportunities across the United States. Although it’s no surprise to see that most job opportunities reside in the financial hub of New York, our data shows that companies across the U.S. and even several mid-sized cities are looking for this type of talent. What we’ve seen is that in some of these mid-sized cities, local organizations have established initiatives to help put them on the map for Bitcoin and cryptocurrency talent,” said Zhao.
Internationally, London topped the list with 189 blockchain-related job openings, followed by Singapore, Toronto and Hong Kong.
Asked if he thinks this growth in jobs is unusual compared to other sectors, Zhao said:
“The growth in the blockchain industry has looked like the broader tech boom. Similar to the technology industry, Bitcoin-related jobs are concentrated in certain talent hubs, with higher than average salaries for workers as investment pours in. Plus, both startups and larger companies alike are investing in this sector — all things we’ve seen shape the tech job market.”
With continuing market volatility and uncertainty around what regulators plan to do, it’s a legitimate question to ask if the cryptocurrency industry is here to stay for the long haul.
Zhao is confident that it is, conveying that investing in jobs is an excellent indicator:
“Although there’s often news about the fluctuating prices of digital currencies, hiring is a long-term decision that an organization sees a true business value in hiring people with specific skill sets that can contribute to the business. It’s a decision not made on a whim.”
This article originally appeared onBitcoin Magazine. || Is It Time to Give Up on International Business Machines (IBM)?: Shares of IBM (NYSE: IBM) slid nearly 5% during after-hours trading on Oct. 16 after the tech giant posted a mixed third quarter report. Its revenue fell 2% annually to $18.8 billion, missing estimates by $330 million and breaking its two-quarter streak of revenue growth. On a constant currency basis its revenue stayed flat year-over-year. On the bottom line, IBM's non-GAAP net income rose 3% to $3.1 billion, and its EPS rose 5% to $3.42, beating estimates by two cents. On a GAAP basis, IBM's net income fell 1% to $2.7 billion, and its EPS grew just 1% to $2.94. A businessman watches a stock chart crash into the abyss. Image source: Getty Images. Those numbers likely disappointed investors, who were expecting Big Blue to maintain its positive growth. But is it time to finally give up on this sluggish stock, which shed about a quarter of its value over the past five years? What went wrong for IBM IBM's turnaround hinges on its ability to keep growing its "strategic imperatives" (cloud, analytics, mobile, social, and security) businesses to offset the weakness of its legacy (IT services, enterprise hardware, and software) businesses. IBM's strategic imperatives revenues rose 13% annually (11% on a constant currency basis) to $39.5 billion over the past 12 months, accounting for nearly half of its total revenue. That growth sounds solid, but it also represents a slowdown from its 15% growth (12% on a constant currency basis) during the second quarter. IBM's strategic imperatives aren't reported as a separate business segment. Instead, they're scattered across Big Blue's multiple business units. Most of those units fared poorly during the quarter, as the weakness of older products and services offset the growth of its strategic imperatives: Revenue Year-over-year growth* Cognitive Solutions $4.15 billion (5%) Global Business Services $4.13 billion 3% Technology Services & Cloud Platforms $8.29 billion 0% Systems $1.74 billion 2% Global Financing $388 million (7%) Source: IBM Q3 report. *Constant currency basis. Story continues The most disappointing numbers IBM's 5% decline in Cognitive Solutions revenue was extremely disappointing since the unit houses its Watson AI platform and analytics tools. IBM previously claimed that Watson's ability to apply machine learning to massive amounts of data would revolutionize a wide range of industries, including the healthcare, cybersecurity, education, and financial markets. However, Watson's results haven't impressed industry experts, who generally think that Watson is an overhyped platform built on marketing gimmicks and old technologies. Oren Etzioni, CEO of the Allen Institute of AI, told Gizmodo that IBM makes "outlandish claims that aren't backed by credible data," while Social Capital CEO Chamath Palihapitiya called Watson "a joke" during a CNBC interview last year. Meanwhile, IBM's Cognitive Solutions business faces tough competition from similar analytics platforms from Amazon 's (NASDAQ: AMZN) Amazon Web Services and Microsoft 's (NASDAQ: MSFT) Azure, which both have much larger public cloud platforms than IBM. A network of cloud computing connections. Image source: Getty Images. That's why IBM's flat growth in Technology Services & Cloud Platforms revenues looks downright ugly. IBM reported that it finished the quarter with an annual run rate of $11.4 billion for its cloud services, which represented 24% growth on a constant currency basis. However, Microsoft's commercial cloud revenues grew 53% annually to $6.9 billion last quarter, while Amazon's AWS revenues jumped 49% to $6.1 billion. On an annualized basis, both companies are generating more than twice as much revenue from cloud services as IBM. Those are the "big strong competitors" Warren Buffett referred to on CNBC prior to selling all of his IBM stock earlier this year. During the second quarter IBM managed to offset some of the weakness in its other businesses with a 23% jump (on a constant currency basis) in Systems revenue. But during the third quarter the unit's growth rate hit a brick wall, posting just 2% growth. That big drop was likely caused by soft demand for its z14 servers, which launched a year ago. On the bright side, IBM's gross margin held steady year-over-year at 46.9% as higher margins at Global Business Services, Technology Services & Cloud Platforms, and Global Financing offset declining margins at Cognitive Solutions and Systems. Its guidance for the full year also wasn't terrible -- it still expects its non-GAAP EPS to advance "at least" 1% to $13.80, and it expects to generate about $12 billion in free cash flow. This means that it can easily cover its forward yield of 4.5% for the foreseeable future. So is it time to give up on IBM? IBM's stock looks cheap at about 10 times this year's earnings, and it's still a decent income stock. Unfortunately, the company simply lacks any meaningful catalysts, and faces far too many long-term headwinds. Until IBM gets its act together, I'd rather stick with other "mature tech" stocks with better growth potential. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Teresa Kersten is an employee of LinkedIn and is a member of The Motley Fool's board of directors. LinkedIn is owned by Microsoft. Leo Sun owns shares of Amazon. The Motley Fool owns shares of and recommends Amazon. The Motley Fool has a disclosure policy . || Is It Time to Give Up on International Business Machines (IBM)?: Shares ofIBM(NYSE: IBM)slid nearly 5% during after-hours trading on Oct. 16 after the tech giant posted a mixed third quarter report. Its revenue fell 2% annually to $18.8 billion, missing estimates by $330 million and breaking its two-quarter streak of revenue growth. On a constant currency basis its revenue stayed flat year-over-year.
On the bottom line, IBM's non-GAAP net income rose 3% to $3.1 billion, and its EPS rose 5% to $3.42, beating estimates by two cents. On a GAAP basis, IBM's net income fell 1% to $2.7 billion, and its EPS grew just 1% to $2.94.
Image source: Getty Images.
Those numbers likely disappointed investors, who were expecting Big Blue to maintain its positive growth. But is it time to finally give up on this sluggish stock, which shed about a quarter of its value over the past five years?
IBM's turnaround hingeson its abilityto keep growing its "strategic imperatives" (cloud, analytics, mobile, social, and security) businesses to offset the weakness of its legacy (IT services, enterprise hardware, and software) businesses.
IBM's strategic imperatives revenues rose 13% annually (11% on a constant currency basis) to $39.5 billion over the past 12 months, accounting for nearly half of its total revenue. That growth sounds solid, but it also represents a slowdown from its 15% growth (12% on a constant currency basis) during the second quarter.
IBM's strategic imperatives aren't reported as a separate business segment. Instead, they're scattered across Big Blue's multiple business units. Most of those units fared poorly during the quarter, as the weakness of older products and services offset the growth of its strategic imperatives:
[{"": "Cognitive Solutions", "Revenue": "$4.15 billion", "Year-over-year growth*": "(5%)"}, {"": "Global Business Services", "Revenue": "$4.13 billion", "Year-over-year growth*": "3%"}, {"": "Technology Services & Cloud Platforms", "Revenue": "$8.29 billion", "Year-over-year growth*": "0%"}, {"": "Systems", "Revenue": "$1.74 billion", "Year-over-year growth*": "2%"}, {"": "Global Financing", "Revenue": "$388 million", "Year-over-year growth*": "(7%)"}]
Source: IBM Q3 report. *Constant currency basis.
IBM's 5% decline in Cognitive Solutions revenue was extremely disappointing since the unit houses its Watson AI platform and analytics tools. IBM previously claimed that Watson's ability to apply machine learning to massive amounts of data would revolutionize a wide range of industries, including the healthcare, cybersecurity, education, and financial markets.
However, Watson's results haven't impressed industry experts, who generally think that Watson is an overhyped platform built on marketing gimmicks and old technologies. Oren Etzioni, CEO of the Allen Institute of AI, toldGizmodothat IBM makes "outlandish claims that aren't backed by credible data," while Social Capital CEO Chamath Palihapitiya called Watson "a joke" during aCNBCinterview last year.
Meanwhile, IBM's Cognitive Solutions business facestough competitionfrom similar analytics platforms fromAmazon's(NASDAQ: AMZN)Amazon Web Services andMicrosoft's(NASDAQ: MSFT)Azure, which both have much larger public cloud platforms than IBM.
Image source: Getty Images.
That's why IBM's flat growth in Technology Services & Cloud Platforms revenues looks downright ugly. IBM reported that it finished the quarter with an annual run rate of $11.4 billion for its cloud services, which represented 24% growth on a constant currency basis.
However, Microsoft's commercial cloud revenues grew 53% annually to $6.9 billion last quarter, while Amazon's AWS revenues jumped 49% to $6.1 billion. On an annualized basis, both companies are generatingmore than twiceas much revenue from cloud services as IBM. Those are the "big strong competitors" Warren Buffett referred to onCNBCprior to selling all of his IBM stock earlier this year.
During the second quarter IBM managed to offset some of the weakness in its other businesses with a 23% jump (on a constant currency basis) in Systems revenue. But during the third quarter the unit's growth rate hit a brick wall, posting just 2% growth. That big drop was likely caused by soft demand for its z14 servers, which launched a year ago.
On the bright side, IBM's gross margin held steady year-over-year at 46.9% as higher margins at Global Business Services, Technology Services & Cloud Platforms, and Global Financing offset declining margins at Cognitive Solutions and Systems. Its guidance for the full year also wasn't terrible -- it still expects its non-GAAP EPS to advance "at least" 1% to $13.80, and it expects to generate about $12 billion in free cash flow. This means that it can easily cover its forward yield of 4.5% for the foreseeable future.
IBM's stock looks cheap at about 10 times this year's earnings, and it's still a decent income stock. Unfortunately, the company simply lacks any meaningful catalysts, and faces far too many long-term headwinds. Until IBM gets its act together, I'd rather stick with other "mature tech" stocks with better growth potential.
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John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Teresa Kersten is an employee of LinkedIn and is a member of The Motley Fool's board of directors. LinkedIn is owned by Microsoft.Leo Sunowns shares of Amazon. The Motley Fool owns shares of and recommends Amazon. The Motley Fool has adisclosure policy. || PIVX to Launch Cryptocurrency Exchange Platform ZDEX in November: PIVX’s, a privacy-focused cryptocurrency that allows for full anonymity during transactions, is transforming to a fully-fledged cryptocurrency exchange platform by November this year. PIVX offers full privacy by essentially erasing a coin’s transaction history after each subsequent transaction. According to the operator’s announcement, its cryptocurrency exchange platform, ZDEX is set to be a privacy-enabled decentralized exchange.
Zerocoin
PIVX is built on the Zerocoin protocol technology developed by Prof. Matthew D. Green in collaboration with two of his former students at the Massachusetts Institute of Technololgy. Green’s Zerocoin was initially developed as an alternative for the traditional mixing service for potentially traceable Bitcoins. It sought to address distrust issues with the mixing services where efficiency relied on the mixing service operator’s subjective trustworthiness.
Now with Zerocoins, it was intended that Bitcoin itself (without dependence on 3rdparty mixing services) would annihilate identifiable tokens then mint fresh coins with no transaction history thus allowing traders to transact incognito. Unfortunately, Bitcoin turned down the proposal prompting Prof. Green and team to launch their protocol as an independent cryptocurrency.
Anonymity
PIVX uses the Zerocoin protocol on itsexchange platformthus allowing users to trade in untraceable tokens, preventing anyone from having a birds-eye view of where a particular coin has been through its transaction history. PIVX is pioneering a new era of private decentralized exchange services that will go a long way to frustrating governments’ efforts to regulate cryptocurrencies; they can’t fight what they can’t see.
PIVX is not building entirely new infrastructures for its upcoming exchange platform. ZDEX will utilize existing PIVX masternodes. Through the 1,350 masternodes making up the PIVX network, users can trade in zPIV and other diverse digital assets.
PIVX is researching other uses of the zerocoin technology. In June, the company announced that it had come up with a private in-wallet that leverages zerocoin technology.
With thezDEXwallet, users will save on transaction fees, have uncompromised privacy as the coins cannot be traced to their source as well as avoid government regulations. The company also has several works in progress that are zerocoins-based.
The cryptocurrency space has not quite seen the kind of exchange solution like one offered by PIVX but one could only envision that the service will be embraced considering the fact that traders place high value on their privacy.
The postPIVX to Launch Cryptocurrency Exchange Platform ZDEX in Novemberappeared first onMarket Exclusive. || PIVX to Launch Cryptocurrency Exchange Platform ZDEX in November: PIVXs, a privacy-focused cryptocurrency that allows for full anonymity during transactions, is transforming to a fully-fledged cryptocurrency exchange platform by November this year. PIVX offers full privacy by essentially erasing a coins transaction history after each subsequent transaction. According to the operators announcement, its cryptocurrency exchange platform, ZDEX is set to be a privacy-enabled decentralized exchange. Zerocoin PIVX is built on the Zerocoin protocol technology developed by Prof. Matthew D. Green in collaboration with two of his former students at the Massachusetts Institute of Technololgy. Greens Zerocoin was initially developed as an alternative for the traditional mixing service for potentially traceable Bitcoins. It sought to address distrust issues with the mixing services where efficiency relied on the mixing service operators subjective trustworthiness. Now with Zerocoins, it was intended that Bitcoin itself (without dependence on 3 rd party mixing services) would annihilate identifiable tokens then mint fresh coins with no transaction history thus allowing traders to transact incognito. Unfortunately, Bitcoin turned down the proposal prompting Prof. Green and team to launch their protocol as an independent cryptocurrency. Anonymity PIVX uses the Zerocoin protocol on its exchange platform thus allowing users to trade in untraceable tokens, preventing anyone from having a birds-eye view of where a particular coin has been through its transaction history. PIVX is pioneering a new era of private decentralized exchange services that will go a long way to frustrating governments efforts to regulate cryptocurrencies; they cant fight what they cant see. PIVX is not building entirely new infrastructures for its upcoming exchange platform. ZDEX will utilize existing PIVX masternodes. Through the 1,350 masternodes making up the PIVX network, users can trade in zPIV and other diverse digital assets. Story continues PIVX is researching other uses of the zerocoin technology. In June, the company announced that it had come up with a private in-wallet that leverages zerocoin technology. With the zDEX wallet, users will save on transaction fees, have uncompromised privacy as the coins cannot be traced to their source as well as avoid government regulations. The company also has several works in progress that are zerocoins-based. The cryptocurrency space has not quite seen the kind of exchange solution like one offered by PIVX but one could only envision that the service will be embraced considering the fact that traders place high value on their privacy. The post PIVX to Launch Cryptocurrency Exchange Platform ZDEX in November appeared first on Market Exclusive . || 3 Innovative Solutions For the Seamless Inheritance of Cryptocurrency Assets: Earlier this year,Futurismcarrieda storyabout Michael Moody, a 26-year old who died in a tragic plane crash in Chico, California in 2013. Before his death, Michael was a Bitcoin miner, in the words of Michael’s father, “my son was actually one of the earliest people to mine it. He used his computer at home to mine bitcoins when you actually could do it that way, and he had a few, we think.” Two years after the crash, the father started exploring ways to retrieve Michael’s cryptocurrency assets. He has succeeded in piecing together information about his son’s stash of Bitcoin, but he been unable to access his crypto wallets because of the decentralized nature of cryptocurrencies.
Nolan Bauerle, director of research at cryptocurrency analysis at CoinDesk in an interview withBloombergobserved that “if someone who owns Bitcoin, or another cryptocurrency passes away without sharing their account information, those coins are simply abandoned.”
Interestingly, being able to retrieve personal information and access a cryptocurrency wallet doesn’t automatically mean that the funds of the deceased are available to their beneficiaries. A number of legal considerations such as theComputer Fraud and Abuse Act (“CFAA”)andThe Stored Communications Actprohibit the unauthorized access to people online accounts (including crypto wallets) even when they are dead.
Now, accessing deceased cryptocurrency wallets and transferring funds without legal authorization apart from being a financial crime also has tax implications. Hence, dying without clear-cut instructions on the management of your digital assets means such assets could be forfeited to the state orlost forever. This piece examines three projects introducing innovative solutions for managing digital inheritances.
TrustVerseis fundamentally a blockchain-powered AI platform that provides an optimized asset management service while also minimizing cryptocurrency volatility for low-risk medium-return performance ensured by its deep neural network and secure and reliable blockchain based system. Beyond intelligent asset management, TrustVerse also offers smart contract programming and design solution on its dApp to help cryptocurrency investors manage taxes, legacy planning, inheritance and transfer of digital assets.
With TrustVerse investors can manage their crypto assets, and make sure their family and loved ones will get access to your assets after they die thanks toSmart Contractsand oracle mechanism. TrustVerse helps investors protect their assets through private smart contracts stored on a public chain. The smart contracts are also programmed with life scheduling service that reaches out to your beneficiaries to when you’ve not checked in for a while.
TrustVerse also leverages a Proof of Death (PoD) consensus solution to prevent post-mortem identity theft and fraud. TrustVerse also has solutions to determine if your digital assets are required to be reported and submitted to probate. Once all statutory legal requirements are met, you can trust that the smart contract will execute and the transfer and distribution of digital assets to predefined designators will be done. The best part is that this platform manages other digital properties such as online storage accounts, websites, emails, photo , nd video sharing accounts, domain names, and intellectual property among others.
Safe Havenis a platform that usesblockchain technologyto help people safely and transparently share the keys to their assets with beneficiaries after their demise. Many people are worried about sharing their account information or keeping it in storage because of fears that the accounts could be compromised and that their funds could be stolen. Safe Haven is using a TFC Share Distribution Key, Trust Alliance, and Escrow protocol to encrypt the information about digital assets while sharing the keys as a puzzle.
Safe Haven allows users to protect their digital assets and ensure seamless inheritance without locking you out. The protocol distributes seeds/private keys/passphrases that provide access to an asset to between the initiator and their beneficiaries. However, the shares of the keys are distributed to give the initiator/parent control over their assets – the shares are also managed as a legally-binding document by a notary. In the event of the death of the initiation, the beneficiaries holding the other shares can present the necessary legal documents to the Trust Alliance System.
DigiPulseis another platform that wants to make it easier to manage digital inheritances with a solution for storing and encrypting information on a blockchain. The encrypted information can only be accessed by prespecified recipients. DigiPulse is being developed around the notion that there’s technically no need to attorney service for the transfer of cryptocurrency assets in event of the demise of the investor.
DigiPulse adds an interesting feature into the mix in that it allows users to choose between keeping their identity anonymous and allowing their identities to be visible. DigiPulse, however, doesn’t seem to require beneficiaries to take any action before the inheritable assets can be transferred to them. DigiPulse uses its API integrations to measure activity signals. Once a pre-defined period of inactivity elapses, the smart contract will assume that you’ve passed on and the smart contract will execute to transfer the assets to your beneficiaries.
Thisarticlewas originally posted on FX Empire
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• GBP/USD Daily Price Forecast – GBP/USD Turned Dovish Post FOMC Update amid Brexit Uncertainty || 3 Innovative Solutions For the Seamless Inheritance of Cryptocurrency Assets: Earlier this year, Futurism carried a story about Michael Moody, a 26-year old who died in a tragic plane crash in Chico, California in 2013. Before his death, Michael was a Bitcoin miner, in the words of Michael’s father, “ my son was actually one of the earliest people to mine it. He used his computer at home to mine bitcoins when you actually could do it that way, and he had a few, we think .” Two years after the crash, the father started exploring ways to retrieve Michael’s cryptocurrency assets. He has succeeded in piecing together information about his son’s stash of Bitcoin, but he been unable to access his crypto wallets because of the decentralized nature of cryptocurrencies. Nolan Bauerle, director of research at cryptocurrency analysis at CoinDesk in an interview with Bloomberg observed that “if someone who owns Bitcoin, or another cryptocurrency passes away without sharing their account information, those coins are simply abandoned.” Interestingly, being able to retrieve personal information and access a cryptocurrency wallet doesn’t automatically mean that the funds of the deceased are available to their beneficiaries. A number of legal considerations such as the Computer Fraud and Abuse Act (“CFAA”) and The Stored Communications Act prohibit the unauthorized access to people online accounts (including crypto wallets) even when they are dead. Now, accessing deceased cryptocurrency wallets and transferring funds without legal authorization apart from being a financial crime also has tax implications. Hence, dying without clear-cut instructions on the management of your digital assets means such assets could be forfeited to the state or lost forever . This piece examines three projects introducing innovative solutions for managing digital inheritances. TrustVerse TrustVerse is fundamentally a blockchain-powered AI platform that provides an optimized asset management service while also minimizing cryptocurrency volatility for low-risk medium-return performance ensured by its deep neural network and secure and reliable blockchain based system. Beyond intelligent asset management, TrustVerse also offers smart contract programming and design solution on its dApp to help cryptocurrency investors manage taxes, legacy planning, inheritance and transfer of digital assets. Story continues With TrustVerse investors can manage their crypto assets, and make sure their family and loved ones will get access to your assets after they die thanks to Smart Contracts and oracle mechanism. TrustVerse helps investors protect their assets through private smart contracts stored on a public chain. The smart contracts are also programmed with life scheduling service that reaches out to your beneficiaries to when you’ve not checked in for a while. {alt} TrustVerse also leverages a Proof of Death (PoD) consensus solution to prevent post-mortem identity theft and fraud. TrustVerse also has solutions to determine if your digital assets are required to be reported and submitted to probate. Once all statutory legal requirements are met, you can trust that the smart contract will execute and the transfer and distribution of digital assets to predefined designators will be done. The best part is that this platform manages other digital properties such as online storage accounts, websites, emails, photo , nd video sharing accounts, domain names, and intellectual property among others. Safe Haven Safe Haven is a platform that uses blockchain technology to help people safely and transparently share the keys to their assets with beneficiaries after their demise. Many people are worried about sharing their account information or keeping it in storage because of fears that the accounts could be compromised and that their funds could be stolen. Safe Haven is using a TFC Share Distribution Key, Trust Alliance, and Escrow protocol to encrypt the information about digital assets while sharing the keys as a puzzle. Safe Haven allows users to protect their digital assets and ensure seamless inheritance without locking you out. The protocol distributes seeds/private keys/passphrases that provide access to an asset to between the initiator and their beneficiaries. However, the shares of the keys are distributed to give the initiator/parent control over their assets – the shares are also managed as a legally-binding document by a notary. In the event of the death of the initiation, the beneficiaries holding the other shares can present the necessary legal documents to the Trust Alliance System. DigiPulse DigiPulse is another platform that wants to make it easier to manage digital inheritances with a solution for storing and encrypting information on a blockchain. The encrypted information can only be accessed by prespecified recipients. DigiPulse is being developed around the notion that there’s technically no need to attorney service for the transfer of cryptocurrency assets in event of the demise of the investor. DigiPulse adds an interesting feature into the mix in that it allows users to choose between keeping their identity anonymous and allowing their identities to be visible. DigiPulse, however, doesn’t seem to require beneficiaries to take any action before the inheritable assets can be transferred to them. DigiPulse uses its API integrations to measure activity signals. Once a pre-defined period of inactivity elapses, the smart contract will assume that you’ve passed on and the smart contract will execute to transfer the assets to your beneficiaries. This article was originally posted on FX Empire More From FXEMPIRE: European Markets Open Mixed in Reaction to New Concerns Over Brexit Dollar Has Returned to Growth on Unanimity of Fed Rate Hikes Despite Trump’s Comments USDJPY, DAX and Oil after the FOMC Minutes Bitcoin – Bulls Struggle to Break Out to $6,800 Sterling Turns Blind eye to weak UK Retail Sales GBP/USD Daily Price Forecast – GBP/USD Turned Dovish Post FOMC Update amid Brexit Uncertainty || From the crypto-goldrush to new compliance concerns: offshore firms weather the storm: Cruz-Bay_British-Virgin-Islands_iStock-847301906_616x372 Offshore law firms in the Caribbean basin are no strangers to tempests. Last year’s Atlantic hurricane season was one of the worst on record. The British Virgin Islands (BVI) suffered catastrophic damage; many BVI-based law firms had to evacuate their staff after Hurricane Irma crippled infrastructure across the island chain. Storm clouds have been brewing metaphorically too. Ongoing regulatory scrutiny across the offshore world continues to hang heavy, with the broader industry still trying to salvage its reputation from the wreckage caused by the Panama Papers leak. So when US President Donald Trump announced changes to the country’s tax laws at the end of last year, offshore firms were bracing for another violent squall that threatened to flatten large chunks of their business. For now, it looks like the storm has passed. The increased regulatory burden has not dampened demand for offshore legal services. In the first six months of the year, new incorporations in the Cayman Islands were up by 39%, in BVI they were up by 16%, and in Bermuda by 6%, according to data tracked by Conyers Dill & Pearman. And the revamped US tax legislation has not yet been the scourge that many initially feared. On the contrary, a booming US economy is creating a fertile backdrop for global dealmaking – a potential boon for offshore firms. AUSENDA_MARCELLO_300x300 “The biggest driver of our business is the health of the onshore economy, but the country that is more significant than any other is the US,” says Marcello Ausenda (pictured right), a director in Conyers’ corporate practice in Bermuda. “If there is growth in the US – and there has been very heathy GDP growth over the last few years – and you have healthy capital markets and a healthy stock market, then that provides oxygen for deal flow, and when there is buoyant deal activity onshore, some of that comes offshore to us.” The amount raised in global initial public offerings (IPOs) hit $134bn at the end of August, the most since 2014, according to Dealogic, a data provider. And that is not just being driven by deals out of the US; the Asia-Pacific region saw its IPO market pop to $61bn, the highest in seven years. Some 112 IPOs were launched across Bermuda, BVI and Cayman in the first half of the year, Ausenda says. A significant number of those Cayman deals were listed in Hong Kong, including China’s Cayman-incorporated Fusen Pharmaceutical Company Limited, which raised HK$416m ($53m), and REM Group (Holdings) Limited, which raised HK$135m. Story continues Chinese companies in particular find the relative simplicity of the Cayman Islands and its regulatory regime attractive “Chinese companies in particular find the relative simplicity of the Cayman Islands and its regulatory regime attractive, and you couple that with deep legal teams and a professional knowhow around what is required – people in Hong Kong and Shanghai are very comfortable with Cayman companies,” says Simon Raftopoulous, a partner at Applebys in Cayman, whose firm advised on the Fusen and REM IPOs. Simon-Raftopoulos_300x300 Raftopoulous (pictured right) says one of the reasons for Cayman’s appeal is flexibility around capital structuring, such as creating special classes of preference shares or having a mixed board. That has firmly established Cayman as the go-to locale for offshore IPO work. Brazilian fintech firm PagSeguro Digital, for instance, incorporated in Cayman for its $2.3bn IPO on the New York Stock Exchange. The US tax changes have also boosted corporate confidence, says Raftopoulous, spurring a flurry of mergers and acquisitions. Global M&A activity surged above $3trn this year for the first time since the financial crisis, according to Dealogic. In the offshore territories, Bermuda in particular has seen a busy year of dealmaking. At the end of August, there had been six inbound M&A deals into Bermuda (where an overseas company seeks to buy a Bermuda-based entity), worth about $8.2bn – double the value of deals seen during the same period in 2017. Meantime, there were 17 outbound deals (where a Bermuda entity seeks to make an acquisition overseas), worth about $4.3bn, three times last year’s value (the number of deals was also the highest since 2012). “In Bermuda we have a large insurance industry, and that industry has been experiencing quite a long period of soft rates, which has encouraged consolidation,” says Ausenda. “In the past six to eight months, there have been a couple of very large deals – one of them was AXA’s acquisition of XL Group and the other was AIG’s acquisition of Validus.” Another big trend that has been gripping the offshore territories this year is the growth in the cryptocurrency, blockchain and wider fintech market. In the first six months of the year, there were just over 600 initial coin offerings (ICOs) globally, raising more than $16bn, according to Coinschedule, an ICO tracker. Almost $6bn of that was issued in June alone, proving that excitement around cryptocurrency assets shows little signs of waning despite a huge fall in the value of Bitcoin since the turn of the year. The vast potential of the fintech market has not gone unnoticed by offshore governments seeking new ways to expand their economies. Bermuda, for instance, is seeking to position itself as the destination of choice for cryptocurrency and fintech companies, having passed a raft of legislation this year to bolster its appeal. Among those is a bespoke ICO act that will regulate new coin offerings, alongside a fintech advisory committee that has been set up to vet ICO applications. It has also passed a digital asset business act, which will regulate service providers that cater to the fintech industry. And Bermuda has also made an amendment to its banking act to create a new class of bank to better serve the sector, thus sidestepping reluctance from existing financial institutions. The government is taking a bet that there are enough reputable players in the fintech industry who will want to come and use Bermuda “The Bermuda government, as a strategic imperative, has gone out and created infrastructure in Bermuda to support the fintech industry and to attract the subset of clients in the fintech space who want to be regulated by a reputable jurisdiction, and the government is taking a bet that there are enough reputable players in the fintech industry who will want to come and use Bermuda,” says Ausenda, whose firm worked closely with the government and the Bermuda Business Development Agency during the legislative process. “There is an enormous advantage to being the first mover, because you can then develop a reputation as being the go-to jurisdiction for that product or asset class, and then the herd follows,” Ausenda adds. Given the nascency of the market – Bermuda’s fintech advisory committee was not even set up when it started receiving ICO applications under the new legislation – offshore lawyers remain circumspect about how the business might unfold. Keith_Robinson_WEB_300x300 “We suspect that blockchain may ultimately be more important than cryptocurrency work in the long run. But will this result in significant jobs? The jury is out on that,” says Keith Robinson (pictured right), a partner at Carey Olsen in Bermuda. “Until recently we hadn’t seen the fintech space result in significant instructions, but we have now seen some come in and it’s certainly possible that jobs will result. We have seen some advisory work around employment and immigration because companies that do want to set up in the fintech world in Bermuda are exploring what it means to have significant employees on the ground. Clients tell us that location is important. Bermuda has the direct flight to London, it’s two hours from New York, so for people wanting to span those two worlds it’s not a bad proposition.” Onshore concerns may also have an impact on how the market develops. A number of countries have already banned Bitcoin. And the US Securities and Exchange Commission is said to be investigating about 80 cryptocurrency startups for violating securities regulations. “Certainly, whether you’re onshore or offshore, there’s a desire and need for regulatory certainty in this space and people are grappling with what that actually means,” says Raftopoulous. “For crypto and ICOs to be accepted as a legitimate business and enjoy credibility beyond what is currently afforded in the business sector, we’re far away from that and there will be consequences to the views they are taking onshore that will trickle down to offshore. But crypto and blockchain, it’s here to stay and it’s going to morph into a globally regulated form, that’s where it has to head.” Raftopoulous says Applebys' dedicated global technology and innovation group has seen it lead the way for offshore firms in the fintech space, having worked on a number of groundbreaking transactions, such as SelfKey’s $22m, blockchain-based digital identity token sale. We were living and breathing this market before it was cool “We were living and breathing this market before it was cool, so we take a deep sense of pride that the lawyers in our fintech team really understand what is going on,” he says. “That’s important because clients in this sector, maybe more so than other sectors, have an intrinsic need or want that you understand what they’re doing and how their product works. We’ve been lucky in getting that right and it’s certainly reflected in the amount of instructions we’ve got and the amount of deal flow.” alan-de-saram-lg-bw_300x300 Despite Bermuda’s move to embrace the potential crypto-goldrush, Cayman-based lawyers do not expect to see their work dry up. Cayman has already seen a host of successful ICO and token generation events, says Alan de Saram (pictured right), managing partner at Collas Crill in Cayman, mostly because of its existing investment funds framework. For instance, for people wishing to issue tokens that are not classified as securities (a utility token, in the crypto parlance), Cayman law has a robust definition of what does and does not constitute a security, which means issuers can structure a utility token offering without having to tip-toe around any regulatory uncertainty, de Saram says. The introduction of Cayman’s Foundation Companies law last year has also been popular with ICO issuers. Foundation companies make it easier to set up a bespoke governance structure, and the not-for-profit element is useful for coin issuers that have an altruistic element to them, he says. That existing investment framework has also encouraged the launch of a number of cryptofunds, which are mostly structured in the same way as a standard investment fund, but which hold crypto assets instead, de Saram says. Wider fund work also continues to be healthy, notably in the private equity space, which remains popular with investors, given the meagre returns up for grabs in other asset classes. Private equity funds raised a record $542bn last year, according to Preqin, a data provider (the pace is slightly slower this year, with $255bn raised by the end of August). Hayden Isbister, managing partner at Mourant Ozannes’ Cayman practice, says his firm has seen an increase in the number of Asia-focused private equity funds, which tend to set up Cayman vehicles if they are selling into the US. Raising all that money has come with other challenges though, namely there is a huge pile of cash chasing a finite number of assets. That is driving up prices, making it harder to invest those funds, lawyers say. At the end of June, private equity funds had a record $1trn of unspent ‘dry powder’ waiting to be deployed, Preqin data shows. That frothiness in asset prices – which can crimp potential returns – has led to a rise in the use of fund finance, typically short-term subscription credit lines. Private equity funds have traditionally used these to quickly purchase assets while waiting for cash to be drawn down from investors but, more recently, funds have been extending these credit lines as a way to boost performance, as it allows them to hold assets for longer without using investors’ cash. That can potentially lift a fund’s internal rate of return higher than it would have been had they received the cash from investors earlier. Hayden-Isbister_300x300 Isbister (pictured right) says where fund finance was once the domain of more boutique lenders, most of the large US investment banks are now providing fund-level subscription lines, which has led to an increase in the amount of credit being offered. “Historically many of these facilities have been relatively small in money terms but the amounts now are mind-boggling, in some cases billions of dollars,” he says. The growth in private equity funds has not been matched by the hedge fund industry, which has generally underperformed from a returns perspective during the past decade, denting demand. In part that is because stock markets have been rising, and hedge funds tend to do better when markets are falling, de Saram says. Yet given that bull markets tend to have a roughly 10-year shelf life, those dynamics may soon begin to change, and that could lead to a big uptick in new hedge fund formation, he says. Increased regulation and compliance is not depressing fund work either. In fact, Isbister says regulation is actually a growth opportunity for offshore firms as they help funds adapt to the shifting compliance backdrop. That is especially pertinent for the Cayman Islands, which has 11,000 registered funds and more than 30,000 unregulated funds that will have to meet a plethora of new rules, such as having to appoint anti-money laundering officers by the end of September this year. “That’s one of the biggest changes we’ve seen in many years here,” says Isbister. “The amount of regulation that is creeping into the offshore world now is really seeing it become a specialised area for offshore firms; rather than all lawyers dabbling in regulatory work, each firm has got specific regulatory practices and regulatory lawyers.” As well as greater scrutiny around anti-money laundering processes, de Saram says rules around beneficial ownership and data protection are the most pressing topics offshore firms are having to deal with. “People are worried that beneficial ownership regimes will have a negative effect on offshore because it has traditionally been more private,” he says. “It’s going to add to costs, which obviously goes against the grain because it is usually cheaper to set up funds offshore than onshore, but most onshore jurisdictions are having to put in place data protection checks and balances and more robust beneficial ownership practices, so maybe some of our nervousness has been unwarranted.” Robinson reckons there is also an opportunity for offshore law firms to wrestle work away from accountancy firms that currently prepare businesses for regulatory reviews. “A lot of that is really legal work, but law firms don’t seem to have caught on to the fact that they can market their skills to help corporate services providers, trust companies and the whole range of financial services companies get ready for regulatory inspections,” he says. But there is no doubt the tangle of new regulations is a drag. In Bermuda, companies now have to file bylaw provisions to the island’s Registrar of Companies related to the quorum of a shareholders’ meeting, any restrictions on share transfers, and the duties and obligations of the company’s secretary, says Ausenda. “Mostly because of the onshore regulatory pressure from the European Union and the Organisation of Economic Co-operation and Development, we have this new legislation which just makes it a little bit more cumbersome in Bermuda,” he says. Ausenda is less concerned, however, about any jitters around beneficial ownership requirements. The inconvenient truth for many onshore regulators is that Bermuda is the world leader in the vetting of ultimate beneficial ownership “The inconvenient truth for many onshore regulators is that Bermuda is the world leader in the vetting of ultimate beneficial ownership,” he says. “Since we invented the offshore company 80 years ago, from that very first company, Bermuda has always and consistently vetted ultimate beneficial ownership. The Bermuda Monetary Authority has its own private register, and we’re probably the only jurisdiction in the world where you can pick any company on our companies’ registry and our regulator can tell you who the ultimate beneficial owners are.” The regulatory headwinds are unlikely to dissipate in the foreseeable future. The UK has said its overseas territories must make those beneficial ownership registers public before 2020. And the EU is seeking further compliance measures from offshore jurisdictions around the world by stiff-arming them into drafting legislation that will set guidelines on the level of economic activity a company must undertake in the offshore jurisdiction in which it is registered. Failure to enact these so-called substance rules before the end of the year could result in the EU blacklisting that jurisdiction. Black clouds may also be forming over global trade, as tensions continue to escalate between China and the US. Protectionist policies and barriers around inbound foreign investment are unlikely to be good news for cross-border capital flows and by extension offshore financial centres such as Cayman, Bermuda and the BVI. Increased competition among offshore law firms may also add to the challenges ahead. “It’s only the large law firms with an international footprint operating offshore that are successful in securing the best work for the best clients,” says Isbister. “There are too many offshore law firms and too many lawyers in this market. There’s a huge gap between the big global firms and those at the next level. Small firms are struggling.” There are too many offshore law firms and too many lawyers in this market Yet others are optimistic that greater competition – and therefore more choice for clients – is healthy. Carey Olsen, for instance, this year opened a Bermuda office as the firm continues its global expansion. “We opened in January with a building on a three-year lease and we’re already full, so we physically have no office space left, and that means there’s demand for people who want to have variety and have competition, and I’m sure that’s the same with Carey Olsen the world over – we face increasing competition in all of the jurisdictions, and that’s not a bad thing,” says Robinson. And despite the geopolitical tensions, markets continue to be upbeat. A new trade pact between the US, Mexico and Canada was agreed at the end of September, with only relatively minor tweaks to the old North American Free Trade Agreement that President Trump had so vehemently railed against. That might offer a glimmer of hope that Trump’s trade grievances with China could yet be resolved without the need for a prolonged and messy trade war. “As long as the Chinese economy and US economy remain strong and buoyant, then our business will follow suit,” says Ausenda. || From the crypto-goldrush to new compliance concerns: offshore firms weather the storm: Offshore law firms in the Caribbean basin are no strangers to tempests. Last year’s Atlantic hurricane season was one of the worst on record. The British Virgin Islands (BVI) suffered catastrophic damage; many BVI-based law firms had to evacuate their staff after Hurricane Irma crippled infrastructure across the island chain.Storm clouds have been brewing metaphorically too. Ongoing regulatory scrutiny across the offshore world continues to hang heavy, with the broader industry still trying to salvage its reputation from the wreckage caused by the Panama Papers leak. So when US President Donald Trump announced changes to the country’s tax laws at the end of last year, offshore firms were bracing for another violent squall that threatened to flatten large chunks of their business.For now, it looks like the storm has passed. The increased regulatory burden has not dampened demand for offshore legal services. In the first six months of the year, new incorporations in the Cayman Islands were up by 39%, in BVI they were up by 16%, and in Bermuda by 6%, according to data tracked by Conyers Dill & Pearman. And the revamped US tax legislation has not yet been the scourge that many initially feared. On the contrary, a booming US economy is creating a fertile backdrop for global dealmaking – a potential boon for offshore firms.
“The biggest driver of our business is the health of the onshore economy, but the country that is more significant than any other is the US,” says Marcello Ausenda (pictured right), a director in Conyers’ corporate practice in Bermuda. “If there is growth in the US – and there has been very heathy GDP growth over the last few years – and you have healthy capital markets and a healthy stock market, then that provides oxygen for deal flow, and when there is buoyant deal activity onshore, some of that comes offshore to us.”The amount raised in global initial public offerings (IPOs) hit $134bn at the end of August, the most since 2014, according to Dealogic, a data provider. And that is not just being driven by deals out of the US; the Asia-Pacific region saw its IPO market pop to $61bn, the highest in seven years. Some 112 IPOs were launched across Bermuda, BVI and Cayman in the first half of the year, Ausenda says. A significant number of those Cayman deals were listed in Hong Kong, including China’s Cayman-incorporated Fusen Pharmaceutical Company Limited, which raised HK$416m ($53m), and REM Group (Holdings) Limited, which raised HK$135m.
Chinese companies in particular find the relative simplicity of the Cayman Islands and its regulatory regime attractive
“Chinese companies in particular find the relative simplicity of the Cayman Islands and its regulatory regime attractive, and you couple that with deep legal teams and a professional knowhow around what is required – people in Hong Kong and Shanghai are very comfortable with Cayman companies,” says Simon Raftopoulous, a partner at Applebys in Cayman, whose firm advised on the Fusen and REM IPOs.
Raftopoulous (pictured right) says one of the reasons for Cayman’s appeal is flexibility around capital structuring, such as creating special classes of preference shares or having a mixed board. That has firmly established Cayman as the go-to locale for offshore IPO work. Brazilian fintech firm PagSeguro Digital, for instance, incorporated in Cayman for its $2.3bn IPO on the New York Stock Exchange.The US tax changes have also boosted corporate confidence, says Raftopoulous, spurring a flurry of mergers and acquisitions. Global M&A activity surged above $3trn this year for the first time since the financial crisis, according to Dealogic. In the offshore territories, Bermuda in particular has seen a busy year of dealmaking. At the end of August, there had been six inbound M&A deals into Bermuda (where an overseas company seeks to buy a Bermuda-based entity), worth about $8.2bn – double the value of deals seen during the same period in 2017. Meantime, there were 17 outbound deals (where a Bermuda entity seeks to make an acquisition overseas), worth about $4.3bn, three times last year’s value (the number of deals was also the highest since 2012).“In Bermuda we have a large insurance industry, and that industry has been experiencing quite a long period of soft rates, which has encouraged consolidation,” says Ausenda. “In the past six to eight months, there have been a couple of very large deals – one of them was AXA’s acquisition of XL Group and the other was AIG’s acquisition of Validus.”Another big trend that has been gripping the offshore territories this year is the growth in the cryptocurrency, blockchain and wider fintech market. In the first six months of the year, there were just over 600 initial coin offerings (ICOs) globally, raising more than $16bn, according to Coinschedule, an ICO tracker. Almost $6bn of that was issued in June alone, proving that excitement around cryptocurrency assets shows little signs of waning despite a huge fall in the value of Bitcoin since the turn of the year.The vast potential of the fintech market has not gone unnoticed by offshore governments seeking new ways to expand their economies. Bermuda, for instance, is seeking to position itself as the destination of choice for cryptocurrency and fintech companies, having passed a raft of legislation this year to bolster its appeal. Among those is a bespoke ICO act that will regulate new coin offerings, alongside a fintech advisory committee that has been set up to vet ICO applications. It has also passed a digital asset business act, which will regulate service providers that cater to the fintech industry. And Bermuda has also made an amendment to its banking act to create a new class of bank to better serve the sector, thus sidestepping reluctance from existing financial institutions.
The government is taking a bet that there are enough reputable players in the fintech industry who will want to come and use Bermuda
“The Bermuda government, as a strategic imperative, has gone out and created infrastructure in Bermuda to support the fintech industry and to attract the subset of clients in the fintech space who want to be regulated by a reputable jurisdiction, and the government is taking a bet that there are enough reputable players in the fintech industry who will want to come and use Bermuda,” says Ausenda, whose firm worked closely with the government and the Bermuda Business Development Agency during the legislative process.“There is an enormous advantage to being the first mover, because you can then develop a reputation as being the go-to jurisdiction for that product or asset class, and then the herd follows,” Ausenda adds.Given the nascency of the market – Bermuda’s fintech advisory committee was not even set up when it started receiving ICO applications under the new legislation – offshore lawyers remain circumspect about how the business might unfold.
“We suspect that blockchain may ultimately be more important than cryptocurrency work in the long run. But will this result in significant jobs? The jury is out on that,” says Keith Robinson (pictured right), a partner at Carey Olsen in Bermuda. “Until recently we hadn’t seen the fintech space result in significant instructions, but we have now seen some come in and it’s certainly possible that jobs will result. We have seen some advisory work around employment and immigration because companies that do want to set up in the fintech world in Bermuda are exploring what it means to have significant employees on the ground. Clients tell us that location is important. Bermuda has the direct flight to London, it’s two hours from New York, so for people wanting to span those two worlds it’s not a bad proposition.”Onshore concerns may also have an impact on how the market develops. A number of countries have already banned Bitcoin. And the US Securities and Exchange Commission is said to be investigating about 80 cryptocurrency startups for violating securities regulations.“Certainly, whether you’re onshore or offshore, there’s a desire and need for regulatory certainty in this space and people are grappling with what that actually means,” says Raftopoulous. “For crypto and ICOs to be accepted as a legitimate business and enjoy credibility beyond what is currently afforded in the business sector, we’re far away from that and there will be consequences to the views they are taking onshore that will trickle down to offshore. But crypto and blockchain, it’s here to stay and it’s going to morph into a globally regulated form, that’s where it has to head.”Raftopoulous says Applebys' dedicated global technology and innovation group has seen it lead the way for offshore firms in the fintech space, having worked on a number of groundbreaking transactions, such as SelfKey’s $22m, blockchain-based digital identity token sale.
We were living and breathing this market before it was cool
“We were living and breathing this market before it was cool, so we take a deep sense of pride that the lawyers in our fintech team really understand what is going on,” he says. “That’s important because clients in this sector, maybe more so than other sectors, have an intrinsic need or want that you understand what they’re doing and how their product works. We’ve been lucky in getting that right and it’s certainly reflected in the amount of instructions we’ve got and the amount of deal flow.”
Despite Bermuda’s move to embrace the potential crypto-goldrush, Cayman-based lawyers do not expect to see their work dry up. Cayman has already seen a host of successful ICO and token generation events, says Alan de Saram (pictured right), managing partner at Collas Crill in Cayman, mostly because of its existing investment funds framework.For instance, for people wishing to issue tokens that are not classified as securities (a utility token, in the crypto parlance), Cayman law has a robust definition of what does and does not constitute a security, which means issuers can structure a utility token offering without having to tip-toe around any regulatory uncertainty, de Saram says.The introduction of Cayman’s Foundation Companies law last year has also been popular with ICO issuers. Foundation companies make it easier to set up a bespoke governance structure, and the not-for-profit element is useful for coin issuers that have an altruistic element to them, he says.That existing investment framework has also encouraged the launch of a number of cryptofunds, which are mostly structured in the same way as a standard investment fund, but which hold crypto assets instead, de Saram says.Wider fund work also continues to be healthy, notably in the private equity space, which remains popular with investors, given the meagre returns up for grabs in other asset classes. Private equity funds raised a record $542bn last year, according to Preqin, a data provider (the pace is slightly slower this year, with $255bn raised by the end of August). Hayden Isbister, managing partner at Mourant Ozannes’ Cayman practice, says his firm has seen an increase in the number of Asia-focused private equity funds, which tend to set up Cayman vehicles if they are selling into the US.Raising all that money has come with other challenges though, namely there is a huge pile of cash chasing a finite number of assets. That is driving up prices, making it harder to invest those funds, lawyers say. At the end of June, private equity funds had a record $1trn of unspent ‘dry powder’ waiting to be deployed, Preqin data shows.That frothiness in asset prices – which can crimp potential returns – has led to a rise in the use of fund finance, typically short-term subscription credit lines. Private equity funds have traditionally used these to quickly purchase assets while waiting for cash to be drawn down from investors but, more recently, funds have been extending these credit lines as a way to boost performance, as it allows them to hold assets for longer without using investors’ cash. That can potentially lift a fund’s internal rate of return higher than it would have been had they received the cash from investors earlier.
Isbister (pictured right) says where fund finance was once the domain of more boutique lenders, most of the large US investment banks are now providing fund-level subscription lines, which has led to an increase in the amount of credit being offered.“Historically many of these facilities have been relatively small in money terms but the amounts now are mind-boggling, in some cases billions of dollars,” he says.The growth in private equity funds has not been matched by the hedge fund industry, which has generally underperformed from a returns perspective during the past decade, denting demand. In part that is because stock markets have been rising, and hedge funds tend to do better when markets are falling, de Saram says. Yet given that bull markets tend to have a roughly 10-year shelf life, those dynamics may soon begin to change, and that could lead to a big uptick in new hedge fund formation, he says.Increased regulation and compliance is not depressing fund work either. In fact, Isbister says regulation is actually a growth opportunity for offshore firms as they help funds adapt to the shifting compliance backdrop. That is especially pertinent for the Cayman Islands, which has 11,000 registered funds and more than 30,000 unregulated funds that will have to meet a plethora of new rules, such as having to appoint anti-money laundering officers by the end of September this year.“That’s one of the biggest changes we’ve seen in many years here,” says Isbister. “The amount of regulation that is creeping into the offshore world now is really seeing it become a specialised area for offshore firms; rather than all lawyers dabbling in regulatory work, each firm has got specific regulatory practices and regulatory lawyers.”As well as greater scrutiny around anti-money laundering processes, de Saram says rules around beneficial ownership and data protection are the most pressing topics offshore firms are having to deal with.“People are worried that beneficial ownership regimes will have a negative effect on offshore because it has traditionally been more private,” he says. “It’s going to add to costs, which obviously goes against the grain because it is usually cheaper to set up funds offshore than onshore, but most onshore jurisdictions are having to put in place data protection checks and balances and more robust beneficial ownership practices, so maybe some of our nervousness has been unwarranted.”Robinson reckons there is also an opportunity for offshore law firms to wrestle work away from accountancy firms that currently prepare businesses for regulatory reviews.“A lot of that is really legal work, but law firms don’t seem to have caught on to the fact that they can market their skills to help corporate services providers, trust companies and the whole range of financial services companies get ready for regulatory inspections,” he says.But there is no doubt the tangle of new regulations is a drag. In Bermuda, companies now have to file bylaw provisions to the island’s Registrar of Companies related to the quorum of a shareholders’ meeting, any restrictions on share transfers, and the duties and obligations of the company’s secretary, says Ausenda.“Mostly because of the onshore regulatory pressure from the European Union and the Organisation of Economic Co-operation and Development, we have this new legislation which just makes it a little bit more cumbersome in Bermuda,” he says.Ausenda is less concerned, however, about any jitters around beneficial ownership requirements.
The inconvenient truth for many onshore regulators is that Bermuda is the world leader in the vetting of ultimate beneficial ownership
“The inconvenient truth for many onshore regulators is that Bermuda is the world leader in the vetting of ultimate beneficial ownership,” he says. “Since we invented the offshore company 80 years ago, from that very first company, Bermuda has always and consistently vetted ultimate beneficial ownership. The Bermuda Monetary Authority has its own private register, and we’re probably the only jurisdiction in the world where you can pick any company on our companies’ registry and our regulator can tell you who the ultimate beneficial owners are.”The regulatory headwinds are unlikely to dissipate in the foreseeable future. The UK has said its overseas territories must make those beneficial ownership registers public before 2020. And the EU is seeking further compliance measures from offshore jurisdictions around the world by stiff-arming them into drafting legislation that will set guidelines on the level of economic activity a company must undertake in the offshore jurisdiction in which it is registered. Failure to enact these so-called substance rules before the end of the year could result in the EU blacklisting that jurisdiction.Black clouds may also be forming over global trade, as tensions continue to escalate between China and the US. Protectionist policies and barriers around inbound foreign investment are unlikely to be good news for cross-border capital flows and by extension offshore financial centres such as Cayman, Bermuda and the BVI. Increased competition among offshore law firms may also add to the challenges ahead.“It’s only the large law firms with an international footprint operating offshore that are successful in securing the best work for the best clients,” says Isbister. “There are too many offshore law firms and too many lawyers in this market. There’s a huge gap between the big global firms and those at the next level. Small firms are struggling.”
There are too many offshore law firms and too many lawyers in this market
Yet others are optimistic that greater competition – and therefore more choice for clients – is healthy. Carey Olsen, for instance, this year opened a Bermuda office as the firm continues its global expansion.“We opened in January with a building on a three-year lease and we’re already full, so we physically have no office space left, and that means there’s demand for people who want to have variety and have competition, and I’m sure that’s the same with Carey Olsen the world over – we face increasing competition in all of the jurisdictions, and that’s not a bad thing,” says Robinson.And despite the geopolitical tensions, markets continue to be upbeat. A new trade pact between the US, Mexico and Canada was agreed at the end of September, with only relatively minor tweaks to the old North American Free Trade Agreement that President Trump had so vehemently railed against. That might offer a glimmer of hope that Trump’s trade grievances with China could yet be resolved without the need for a prolonged and messy trade war.“As long as the Chinese economy and US economy remain strong and buoyant, then our business will follow suit,” says Ausenda. || What is bitcoin, how does it work and what affects its price?: Bitcoin - Bloomberg News Few technologies have the ability to stir passionate online debate and baffle the vast majority of the population as bitcoin . The virtual currency rocketed in value last year before crashing at the start of 2018. But bitcoin appears here to stay, at least for the time being. Although the price has fallen since the start of the year to around $6,400 (£4,900), well below its peak of $20,000, it is still above its price a year ago and interest in it continues. There have been spikes along the way, possibly caused by mass computer trading or short sellers jumping ship and encouraging buyers to flood back in. It all leaves investors with a slew of questions. Is Bitcoin the future of currency ? Is it currency at all? What is it for? And should I buy some? Read on to have your questions answered. What is Bitcoin? Bitcoin is a digital currency created in 2009 that uses decentralised technology for secure payments and storing money that doesn't require banks or people's names. It was announced on an email circular as a way to liberate money in a similar way to how the internet made information free. How does it work? Bitcoin works on a public ledger called a blockchain, which holds a decentralised record of all transactions that is updated and held by all users of the network. To create bitcoins, users must generate blocks on the network. Each block is created cryptographically by harnessing users' computer power and is then added to the blockchain, letting users earn by keeping the network running. A limit for how many bitcoins can be created is built into the system so the value can't be diluted. The maximum amount is just under 21 million bitcoin. There are currently just over 17 million in circulation, each of which was worth around $6,400 (£4,900) at the time of writing. That puts its total value at around $108.8 billion. While at first ordinary people could mine thousands of bitcoins , potentially now worth millions of pounds, bitcoin mining now requires a huge amount of computer power to achieve. You can read our guide to bitcoin mining here . Story continues What affects its price? The price of a Bitcoin has jumped up and down since it first entered the mainstream consciousness in 2013. That year prices rose by almost 10,000 per cent before the collapse of Mt Gox, the biggest online bitcoin exchange at the time, sent it crashing. Prices slowly crept up after that but surged again in 2017. This is largely put down to regulators appearing to warm to bitcoin and the rise of initial coin offerings - a way for projects to raise money by selling cryptographic tokens similar to bitcoins. Sceptics believed we were in the middle of a Bitcoin bubble while advocates say we are just beginning to see the rise starting. Prices have fallen in 2018 amid fears of a regulatory crackdown. Who is Satoshi Nakamoto? Satoshi Nakamoto is the mysterious creator of Bitcoin and blockchain. Despite countless attempts to unmask the person or people behind the name, their identity has remained elusive. There have been numerous unsuccessful attempts by journalists to reveal the Bitcoin founder. In a high-profile incident in 2014, Newsweek magazine relaunched with a feature outing Dorian Nakamoto, a 64-year-old Japanese-American man, as the creator. The affair, having fallen apart under scrutiny, ended with a car chase and the real Nakamoto refuting the allegations. Australian computer scientist Craig Wright previously claimed he was Satoshi Nakamoto Credit: PA The most recent candidate was Craig Wright, a former Australian academic, who claimed to be the bitcoin inventor. Wright wrote blog posts and gave interviews to Wired, BBC and the Economist in 2015 and 2016 saying he was behind bitcoin. After failing to provide unquestionable proof, Wright posted an apology message that said: "I believed that I could put the years of anonymity and hiding behind me. But, as the events of this week unfolded and I prepared to publish the proof of access to the earliest keys, I broke. I do not have the courage. I cannot." How many people use bitcoin? One of the largest Bitcoin storage platforms, Blockchain.info, claims it has more than 25 million cryptocurrency wallet holders. This has almost doubled from 10 million at the start of 2017. What is it used for? Bitcoin has a range of uses, including funding companies, investing cash and transferring money without fees. It is commonly associated with criminal activity such as drug dealing, cyber crime and money laundering, since it can be near-impossible to tie a bitcoin wallet to any one individual. Bitcoin can be spent online and at select retailers in the UK. They include CEX stores, some pubs and stores like e-cigarette shops and YourSushi restaurants. A full list of online and offline businesses that accept bitcoin is available here . They can also be withdrawn at a couple of dozen bitcoin ATMs, which can be found here . However, a surge of network activity has meant transaction fees spiking, meaning some retailers have lost enthusiasm. Computer maker Dell, for example, ended its pilot of accepting Bitcoins, as did online gaming store Steam. Others simply hold their Bitcoins, hoping they will accumulate in value and prove to be a lucrative investment. Its price is notoriously volatile, and early investors are now sitting on massive gains. Should I invest in Bitcoin? Bitcoin is safeguarded against fraud and theft through independent and decentralised set up, as well as being free from transaction fees. It has also given great returns to some investors, with the price jumping from a few dollars at the beginning of 2013 to $1,100 by November. People who invested £2,000 five years ago would now be very wealthy. After a few level years, its dollar price soared during 2017 , and it peaked at more than $20,000. But the price has plunged since then, leaving investors to ponder whether its bubble has burst or the best is yet to come. || What is bitcoin, how does it work and what affects its price?: Bitcoin - Bloomberg News Few technologies have the ability to stir passionate online debate and baffle the vast majority of the population as bitcoin . The virtual currency rocketed in value last year before crashing at the start of 2018. But bitcoin appears here to stay, at least for the time being. Although the price has fallen since the start of the year to around $6,400 (£4,900), well below its peak of $20,000, it is still above its price a year ago and interest in it continues. There have been spikes along the way, possibly caused by mass computer trading or short sellers jumping ship and encouraging buyers to flood back in. It all leaves investors with a slew of questions. Is Bitcoin the future of currency ? Is it currency at all? What is it for? And should I buy some? Read on to have your questions answered. What is Bitcoin? Bitcoin is a digital currency created in 2009 that uses decentralised technology for secure payments and storing money that doesn't require banks or people's names. It was announced on an email circular as a way to liberate money in a similar way to how the internet made information free. How does it work? Bitcoin works on a public ledger called a blockchain, which holds a decentralised record of all transactions that is updated and held by all users of the network. To create bitcoins, users must generate blocks on the network. Each block is created cryptographically by harnessing users' computer power and is then added to the blockchain, letting users earn by keeping the network running. A limit for how many bitcoins can be created is built into the system so the value can't be diluted. The maximum amount is just under 21 million bitcoin. There are currently just over 17 million in circulation, each of which was worth around $6,400 (£4,900) at the time of writing. That puts its total value at around $108.8 billion. While at first ordinary people could mine thousands of bitcoins , potentially now worth millions of pounds, bitcoin mining now requires a huge amount of computer power to achieve. You can read our guide to bitcoin mining here . Story continues What affects its price? The price of a Bitcoin has jumped up and down since it first entered the mainstream consciousness in 2013. That year prices rose by almost 10,000 per cent before the collapse of Mt Gox, the biggest online bitcoin exchange at the time, sent it crashing. Prices slowly crept up after that but surged again in 2017. This is largely put down to regulators appearing to warm to bitcoin and the rise of initial coin offerings - a way for projects to raise money by selling cryptographic tokens similar to bitcoins. Sceptics believed we were in the middle of a Bitcoin bubble while advocates say we are just beginning to see the rise starting. Prices have fallen in 2018 amid fears of a regulatory crackdown. Who is Satoshi Nakamoto? Satoshi Nakamoto is the mysterious creator of Bitcoin and blockchain. Despite countless attempts to unmask the person or people behind the name, their identity has remained elusive. There have been numerous unsuccessful attempts by journalists to reveal the Bitcoin founder. In a high-profile incident in 2014, Newsweek magazine relaunched with a feature outing Dorian Nakamoto, a 64-year-old Japanese-American man, as the creator. The affair, having fallen apart under scrutiny, ended with a car chase and the real Nakamoto refuting the allegations. Australian computer scientist Craig Wright previously claimed he was Satoshi Nakamoto Credit: PA The most recent candidate was Craig Wright, a former Australian academic, who claimed to be the bitcoin inventor. Wright wrote blog posts and gave interviews to Wired, BBC and the Economist in 2015 and 2016 saying he was behind bitcoin. After failing to provide unquestionable proof, Wright posted an apology message that said: "I believed that I could put the years of anonymity and hiding behind me. But, as the events of this week unfolded and I prepared to publish the proof of access to the earliest keys, I broke. I do not have the courage. I cannot." How many people use bitcoin? One of the largest Bitcoin storage platforms, Blockchain.info, claims it has more than 25 million cryptocurrency wallet holders. This has almost doubled from 10 million at the start of 2017. What is it used for? Bitcoin has a range of uses, including funding companies, investing cash and transferring money without fees. It is commonly associated with criminal activity such as drug dealing, cyber crime and money laundering, since it can be near-impossible to tie a bitcoin wallet to any one individual. Bitcoin can be spent online and at select retailers in the UK. They include CEX stores, some pubs and stores like e-cigarette shops and YourSushi restaurants. A full list of online and offline businesses that accept bitcoin is available here . They can also be withdrawn at a couple of dozen bitcoin ATMs, which can be found here . However, a surge of network activity has meant transaction fees spiking, meaning some retailers have lost enthusiasm. Computer maker Dell, for example, ended its pilot of accepting Bitcoins, as did online gaming store Steam. Others simply hold their Bitcoins, hoping they will accumulate in value and prove to be a lucrative investment. Its price is notoriously volatile, and early investors are now sitting on massive gains. Should I invest in Bitcoin? Bitcoin is safeguarded against fraud and theft through independent and decentralised set up, as well as being free from transaction fees. It has also given great returns to some investors, with the price jumping from a few dollars at the beginning of 2013 to $1,100 by November. People who invested £2,000 five years ago would now be very wealthy. After a few level years, its dollar price soared during 2017 , and it peaked at more than $20,000. But the price has plunged since then, leaving investors to ponder whether its bubble has burst or the best is yet to come. || What is bitcoin, how does it work and what affects its price?: Bitcoin - Bloomberg News Few technologies have the ability to stir passionate online debate and baffle the vast majority of the population as bitcoin . The virtual currency rocketed in value last year before crashing at the start of 2018. But bitcoin appears here to stay, at least for the time being. Although the price has fallen since the start of the year to around $6,400 (£4,900), well below its peak of $20,000, it is still above its price a year ago and interest in it continues. There have been spikes along the way, possibly caused by mass computer trading or short sellers jumping ship and encouraging buyers to flood back in. It all leaves investors with a slew of questions. Is Bitcoin the future of currency ? Is it currency at all? What is it for? And should I buy some? Read on to have your questions answered. What is Bitcoin? Bitcoin is a digital currency created in 2009 that uses decentralised technology for secure payments and storing money that doesn't require banks or people's names. It was announced on an email circular as a way to liberate money in a similar way to how the internet made information free. How does it work? Bitcoin works on a public ledger called a blockchain, which holds a decentralised record of all transactions that is updated and held by all users of the network. To create bitcoins, users must generate blocks on the network. Each block is created cryptographically by harnessing users' computer power and is then added to the blockchain, letting users earn by keeping the network running. A limit for how many bitcoins can be created is built into the system so the value can't be diluted. The maximum amount is just under 21 million bitcoin. There are currently just over 17 million in circulation, each of which was worth around $6,400 (£4,900) at the time of writing. That puts its total value at around $108.8 billion. While at first ordinary people could mine thousands of bitcoins , potentially now worth millions of pounds, bitcoin mining now requires a huge amount of computer power to achieve. You can read our guide to bitcoin mining here . What affects its price? The price of a Bitcoin has jumped up and down since it first entered the mainstream consciousness in 2013. That year prices rose by almost 10,000 per cent before the collapse of Mt Gox, the biggest online bitcoin exchange at the time, sent it crashing. Prices slowly crept up after that but surged again in 2017. This is largely put down to regulators appearing to warm to bitcoin and the rise of initial coin offerings - a way for projects to raise money by selling cryptographic tokens similar to bitcoins. Sceptics believed we were in the middle of a Bitcoin bubble while advocates say we are just beginning to see the rise starting. Story continues Prices have fallen in 2018 amid fears of a regulatory crackdown. Who is Satoshi Nakamoto? Satoshi Nakamoto is the mysterious creator of Bitcoin and blockchain. Despite countless attempts to unmask the person or people behind the name, their identity has remained elusive. There have been numerous unsuccessful attempts by journalists to reveal the Bitcoin founder. In a high-profile incident in 2014, Newsweek magazine relaunched with a feature outing Dorian Nakamoto, a 64-year-old Japanese-American man, as the creator. The affair, having fallen apart under scrutiny, ended with a car chase and the real Nakamoto refuting the allegations. Australian computer scientist Craig Wright previously claimed he was Satoshi Nakamoto Credit: PA The most recent candidate was Craig Wright, a former Australian academic, who claimed to be the bitcoin inventor. Wright wrote blog posts and gave interviews to Wired, BBC and the Economist in 2015 and 2016 saying he was behind bitcoin. After failing to provide unquestionable proof, Wright posted an apology message that said: "I believed that I could put the years of anonymity and hiding behind me. But, as the events of this week unfolded and I prepared to publish the proof of access to the earliest keys, I broke. I do not have the courage. I cannot." How many people use bitcoin? One of the largest Bitcoin storage platforms, Blockchain.info, claims it has more than 25 million cryptocurrency wallet holders. This has almost doubled from 10 million at the start of 2017. What is it used for? Bitcoin has a range of uses, including funding companies, investing cash and transferring money without fees. It is commonly associated with criminal activity such as drug dealing, cyber crime and money laundering, since it can be near-impossible to tie a bitcoin wallet to any one individual. Bitcoin can be spent online and at select retailers in the UK. They include CEX stores, some pubs and stores like e-cigarette shops and YourSushi restaurants. A full list of online and offline businesses that accept bitcoin is available here . They can also be withdrawn at a couple of dozen bitcoin ATMs, which can be found here . However, a surge of network activity has meant transaction fees spiking, meaning some retailers have lost enthusiasm. Computer maker Dell, for example, ended its pilot of accepting Bitcoins, as did online gaming store Steam. Others simply hold their Bitcoins, hoping they will accumulate in value and prove to be a lucrative investment. Its price is notoriously volatile, and early investors are now sitting on massive gains. Should I invest in Bitcoin? Bitcoin is safeguarded against fraud and theft through independent and decentralised set up, as well as being free from transaction fees. It has also given great returns to some investors, with the price jumping from a few dollars at the beginning of 2013 to $1,100 by November. People who invested £2,000 five years ago would now be very wealthy. After a few level years, its dollar price soared during 2017 , and it peaked at more than $20,000. But the price has plunged since then, leaving investors to ponder whether its bubble has burst or the best is yet to come. View comments || What is bitcoin, how does it work and what affects its price?: Few technologies have the ability to stir passionate online debate and baffle the vast majority of the population asbitcoin. The virtual currency rocketed in value last year before crashing at the start of 2018.
But bitcoin appears here to stay, at least for the time being. Although thepricehas fallen since the start of the year to around $6,400 (£4,900), well below its peak of $20,000, it is still above its price a year ago and interest in it continues.
There have been spikes along the way, possibly caused by mass computer trading orshort sellersjumping ship and encouraging buyers to flood back in.
It all leaves investors with a slew of questions. Is Bitcoin thefuture of currency? Is it currency at all? What is it for? And should I buy some? Read on to have your questions answered.
Bitcoinis a digital currency created in 2009 that uses decentralised technology for secure payments and storing money that doesn't require banks or people's names. It was announced on an email circular as a way to liberate money in a similar way to how the internet made information free.
Bitcoin works on a public ledger called a blockchain, which holds a decentralised record of all transactions that is updated and held by all users of the network.
To create bitcoins, users must generate blocks on the network. Each block is created cryptographically by harnessing users' computer power and is then added to the blockchain, letting users earn by keeping the network running.
A limit for how many bitcoins can be created is built into the system so the value can't be diluted. The maximum amount is just under 21 million bitcoin. There are currently just over 17 million in circulation, each of which was worth around $6,400 (£4,900) at the time of writing. That puts its total value at around $108.8 billion.
While at firstordinary people could mine thousands of bitcoins, potentially now worth millions of pounds, bitcoin mining now requires a huge amount of computer power to achieve. You can read ourguide to bitcoin mining here.
The price of aBitcoin has jumped up and downsince it first entered the mainstream consciousness in 2013. That year prices rose by almost 10,000 per cent before the collapse of Mt Gox, the biggest online bitcoin exchange at the time, sent it crashing.
Prices slowly crept up after that but surged again in 2017. This is largely put down to regulators appearing to warm to bitcoin and the rise of initial coin offerings - a way for projects to raise money by selling cryptographic tokens similar to bitcoins. Sceptics believed we were in the middle of a Bitcoin bubble while advocates say we are just beginning to see the rise starting.
Prices have fallen in 2018 amid fears of a regulatory crackdown.
Satoshi Nakamoto is the mysterious creatorof Bitcoin and blockchain. Despite countless attempts to unmask the person or people behind the name, their identity has remained elusive.
There have been numerous unsuccessful attempts by journalists to reveal the Bitcoin founder. In a high-profile incident in 2014, Newsweek magazine relaunched with a feature outing Dorian Nakamoto, a 64-year-old Japanese-American man, as the creator. The affair, having fallen apart under scrutiny, ended with a car chase and the real Nakamoto refuting the allegations.
The most recent candidate was Craig Wright, a former Australian academic, who claimed to be the bitcoin inventor. Wright wrote blog posts and gave interviews to Wired, BBC and the Economist in 2015 and 2016 saying he was behind bitcoin.
After failing to provide unquestionable proof, Wright posted an apology message that said: "I believed that I could put the years of anonymity and hiding behind me. But, as the events of this week unfolded and I prepared to publish the proof of access to the earliest keys, I broke. I do not have the courage. I cannot."
One of the largest Bitcoin storage platforms, Blockchain.info, claims it has more than 25 million cryptocurrency wallet holders. This has almost doubled from 10 million at the start of 2017.
Bitcoin has a range of uses, including funding companies, investing cash and transferring money without fees. It is commonly associated with criminal activity such as drug dealing, cyber crime and money laundering, since it can be near-impossible to tie a bitcoin wallet to any one individual.
Bitcoin can be spent online and at select retailers in the UK. They include CEX stores, some pubs and stores like e-cigarette shops and YourSushi restaurants. A full list of online and offline businesses that accept bitcoin is availablehere. They can also be withdrawn at a couple of dozen bitcoin ATMs, which can be foundhere.
However, a surge of network activity has meant transaction fees spiking, meaning some retailers have lost enthusiasm. Computer maker Dell, for example, ended its pilot of accepting Bitcoins, as did online gaming store Steam.
Others simply hold their Bitcoins, hoping they will accumulate in value and prove to be a lucrative investment. Its price is notoriously volatile, and early investors are now sitting on massive gains.
Bitcoin is safeguarded against fraud and theft through independent and decentralised set up, as well as being free from transaction fees. It has also given great returns to some investors, with the price jumping from a few dollars at the beginning of 2013 to $1,100 by November. People who invested £2,000 five years ago would now be very wealthy.
After a few level years, itsdollar price soared during 2017, and it peaked at more than $20,000. But the price has plunged since then, leaving investors to ponder whether its bubble has burst or the best is yet to come. || Police: Dispute over Bitcoin Account Led to Connecticut Home Invasion: Two women have beenarrestedin connection with a March home invasion in Killingly, CT, where victims were not only robbed but also allegedly pistol-whipped and attacked with an electric cattle prod. The incident, police said, was the tragic culmination of a dispute involving a bitcoin account.
Apparently, the home invasion occurred because a female victim opened a bitcoin account for one of the alleged home invasion suspects, Monique Delannoy-Jodoin, 59, who police said is a resident of Manville, RI. Police also stated that Ms. Delannoy-Jodoin was already under investigation for narcotic sales and delivery through the postal system. The other suspect was Beatriz Viruet, 38, who is a resident of Providence, RI.
The female renter claimed to recognize two of the home invaders, who then pistol-whipped one occupant on the head, and utilized an electric cattle prod on another occupant. The female renter was able to escape to a neighbor’s house, but not one of the suspects was able to force entry into the bathroom, where the renter was hiding, using a hammer.
The suspects stole money, cell phones, and a television, according to local authorities. Allegedly, one of the suspects, told the other to “shoot the victims,” as well.
Many have criticized the fact that cryptocurrency can be used for money laundering, considering that it can often be harder to trace than fiat currency. The sector is often accused of fraud, and there are eveninternational task forcesorganized to target ICOs worldwide.
This is a still-rare-but-increasingly-more-common instance where there is a violent crime associated with cryptocurrency. Indeed, it is not the only violent incident that has happened in relation to bitcoin. Earlier this year, there was ashootingin downtown Miami in connection with a bitcoin deal gone awry.
According to police, Monique Delannoy-Jodoin wanted money and passwords related to her bitcoin account. She was ultimately charged with home invasion, risk of injury to a child, third-degree criminal mischief, second-degree assault with a weapon, second-degree breach of peace, criminal use of a weapon, and sixth-degree larceny, among other charges. Beatriz Viruet was charged with home invasion, first-degree robbery, and second-degree breach of peace.
Delannoy-Jodoin was held on a $250,000 bond, while Viruet was held on a $100,000 bond. The women are both are due to appear Monday in Danielson Superior Court.
Featured Image from Shutterstock
The postPolice: Dispute over Bitcoin Account Led to Connecticut Home Invasionappeared first onCCN. || Police: Dispute over Bitcoin Account Led to Connecticut Home Invasion: Two women have beenarrestedin connection with a March home invasion in Killingly, CT, where victims were not only robbed but also allegedly pistol-whipped and attacked with an electric cattle prod. The incident, police said, was the tragic culmination of a dispute involving a bitcoin account.
Apparently, the home invasion occurred because a female victim opened a bitcoin account for one of the alleged home invasion suspects, Monique Delannoy-Jodoin, 59, who police said is a resident of Manville, RI. Police also stated that Ms. Delannoy-Jodoin was already under investigation for narcotic sales and delivery through the postal system. The other suspect was Beatriz Viruet, 38, who is a resident of Providence, RI.
The female renter claimed to recognize two of the home invaders, who then pistol-whipped one occupant on the head, and utilized an electric cattle prod on another occupant. The female renter was able to escape to a neighbor’s house, but not one of the suspects was able to force entry into the bathroom, where the renter was hiding, using a hammer.
The suspects stole money, cell phones, and a television, according to local authorities. Allegedly, one of the suspects, told the other to “shoot the victims,” as well.
Many have criticized the fact that cryptocurrency can be used for money laundering, considering that it can often be harder to trace than fiat currency. The sector is often accused of fraud, and there are eveninternational task forcesorganized to target ICOs worldwide.
This is a still-rare-but-increasingly-more-common instance where there is a violent crime associated with cryptocurrency. Indeed, it is not the only violent incident that has happened in relation to bitcoin. Earlier this year, there was ashootingin downtown Miami in connection with a bitcoin deal gone awry.
According to police, Monique Delannoy-Jodoin wanted money and passwords related to her bitcoin account. She was ultimately charged with home invasion, risk of injury to a child, third-degree criminal mischief, second-degree assault with a weapon, second-degree breach of peace, criminal use of a weapon, and sixth-degree larceny, among other charges. Beatriz Viruet was charged with home invasion, first-degree robbery, and second-degree breach of peace.
Delannoy-Jodoin was held on a $250,000 bond, while Viruet was held on a $100,000 bond. The women are both are due to appear Monday in Danielson Superior Court.
Featured Image from Shutterstock
The postPolice: Dispute over Bitcoin Account Led to Connecticut Home Invasionappeared first onCCN. || Police: Dispute over Bitcoin Account Led to Connecticut Home Invasion: bitcoin crime Two women have been arrested in connection with a March home invasion in Killingly, CT, where victims were not only robbed but also allegedly pistol-whipped and attacked with an electric cattle prod. The incident, police said, was the tragic culmination of a dispute involving a bitcoin account. Incident Details Apparently, the home invasion occurred because a female victim opened a bitcoin account for one of the alleged home invasion suspects, Monique Delannoy-Jodoin, 59, who police said is a resident of Manville, RI. Police also stated that Ms. Delannoy-Jodoin was already under investigation for narcotic sales and delivery through the postal system. The other suspect was Beatriz Viruet, 38, who is a resident of Providence, RI. The female renter claimed to recognize two of the home invaders, who then pistol-whipped one occupant on the head, and utilized an electric cattle prod on another occupant. The female renter was able to escape to a neighbor’s house, but not one of the suspects was able to force entry into the bathroom, where the renter was hiding, using a hammer. The suspects stole money, cell phones, and a television, according to local authorities. Allegedly, one of the suspects, told the other to “shoot the victims,” as well. Crypto Crime Many have criticized the fact that cryptocurrency can be used for money laundering, considering that it can often be harder to trace than fiat currency. The sector is often accused of fraud, and there are even international task forces organized to target ICOs worldwide. This is a still-rare-but-increasingly-more-common instance where there is a violent crime associated with cryptocurrency. Indeed, it is not the only violent incident that has happened in relation to bitcoin. Earlier this year, there was a shooting in downtown Miami in connection with a bitcoin deal gone awry. According to police, Monique Delannoy-Jodoin wanted money and passwords related to her bitcoin account. She was ultimately charged with home invasion, risk of injury to a child, third-degree criminal mischief, second-degree assault with a weapon, second-degree breach of peace, criminal use of a weapon, and sixth-degree larceny, among other charges. Beatriz Viruet was charged with home invasion, first-degree robbery, and second-degree breach of peace. Story continues Delannoy-Jodoin was held on a $250,000 bond, while Viruet was held on a $100,000 bond. The women are both are due to appear Monday in Danielson Superior Court. Featured Image from Shutterstock The post Police: Dispute over Bitcoin Account Led to Connecticut Home Invasion appeared first on CCN .
[Social Media Buzz]
#BTCUSD Market #1H timeframe on October 19 at 15:00 (UTC) is #Bearish. #cryptocurrency #bitcoin #btc #crypto #trading #idea #report technical analysis || 最も安くBTC/JPYを買えるのは？(2018-10-19 17:00:02 現在)
Zaif 703615.00000
bitFlyer 715363.00000
Liquid 715602.32995
coincheck 715694.00000
bitbank 715883.00000 || Oct 19, 2018 16:00:00 UTC | 6,428.90$ | 5,591.80€ | 4,928.10£ | #Bitcoin #btc pic.twitter.com/N2VXgzkAOY || 10/19 11:00現在
#Bitcoin : 705,925円↓
#NEM #XEM : 10.5499円↓
#...
|
6489.19, 6482.35, 6487.16, 6475.74, 6495.84, 6476.29, 6474.75, 6480.38, 6486.39, 6332.63
|
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 704.38, 685.56, 694.47, 766.31, 748.91, 756.23, 763.78, 737.23, 666.65, 596.12, 623.98, 665.30, 665.12, 629.37, 655.28, 647.00, 639.89, 673.34, 676.30, 703.70, 658.66, 683.66, 670.63, 677.33, 640.56, 666.52, 650.96, 649.36, 647.66, 664.55, 654.47, 658.08, 663.26, 660.77, 679.46, 673.11, 672.86, 665.68, 665.01, 650.62, 655.56, 661.28, 654.10, 651.78, 654.35, 655.03, 656.99, 655.05, 624.68, 606.27, 547.47, 566.35, 578.29, 575.04, 587.78, 592.69, 591.05, 587.80, 592.10, 589.12, 587.56, 585.59, 570.47, 567.24, 577.44, 573.22, 574.32, 575.63, 581.70, 581.31, 586.75, 583.41, 580.18, 577.76, 579.65, 569.95, 573.91, 574.11, 577.50, 575.47, 572.30, 575.54, 598.21, 608.63, 606.59, 610.44, 614.54, 626.32, 622.86, 623.51.
|
[Bitcoin Technical Analysis for 2016-09-10]
Volume: 45016800, RSI (14-day): 67.06, 50-day EMA: 600.30, 200-day EMA: 543.50
[Wider Market Context]
None available.
[Recent News (last 7 days)]
American Express Needs to Shake Off Its Lethargy: - By Sangara Narayanan
Of the top four financial services companies in the world,American Express(AXP) earns the most and is also the cheapest to buy.
American Express made $32.818 billion in 2015, nearly 2.3 times whatVisa(NYSE:V) made last year. But the premium credit card seller is trading at an extraordinarily low 12 times its earnings - far less than Visa,MasterCard(MA) andPayPal(PYPL). The root cause of the problem is that the market's expectation with American Express has turned sour as the company's revenue growth was nearly flat, growing from $31.582 billion in 2012 to $32.818 billion in 2015.
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• AXP 15-Year Financial Data
• The intrinsic value of AXP
• Peter Lynch Chart of AXP
Comparison with Visa is inevitable as they both operate in the same industry but at different market positions. Visa goes after the mass market while American Express has always gone after the premium segment. But, unfortunately, unlike what you typically see in other industries where premium providers enjoy fat margins, American Express, despite its positioning, has an operating margin of around 25% while Visa has enjoyed operating margins in excess of 60% for the last three years. Visa's sales were lower than Amex in 2015, but the company's operating income was a full $1 billion higher than Amex.
Despite this huge discrepancy in bottom-line earnings, Visa has managed to grow at the faster rate than American Express while MasterCard and PayPal have kept up their paces as well. American Express was the only company of the top four to see its revenues barely inch up in the last three years, and that's the reason why the company is trading at lower multiples compared to other players in the segment.
One of the biggest problems with American Express is that the company has stayed rigid with its business strategies, always staying within its traditional model of targeting high income earners and high net worth individuals. In contrast, Visa has always remained active in engaging forward-looking technologies and kept pace with developments in the industry.
What has Visa done differently?
Take, for example, Visa recently inviting banks to test the effectiveness of blockchain technology. Blockchain is the technology that propelled Bitcoin into our world. The concept of shared ledger itself isn't new, but to test it in an interbank environment is completely new. If successful it can completely transform the way settlements are done between banks in different time zones, reducing cost and time while also increasing effectiveness, accountability and data integrity.
The technology may work or fail, but Visa seems to be always ready to look for the next thing it can add to its portfolio. Here's another example: The entire world knows digital mobile payment is the next financial payment wave. Tech majors likeApple(AAPL) andGoogle(GOOG) have already jumped into the game, and PayPal's Venmo is also looking to expand aggressively into the segment. All three top players in the digital wallet space - Apple, Google and PayPal - have struck deals with credit card companies as part of their plans to capture the digital payment world of the future, and Visa stands to gain from each of these partnerships.
Of course, American Express is also on Apple Pay, but if Amex had been the one to push Apple into launching a payment system like Apple Pay, it would have been an entirely different matter. The problem is American Express remains a mute spectator while its peers go after the best opportunities that will allow them to retain their massive moats and keep growing in the process. I see that as American Express' biggest problem, and the reason for its low valuation.
Could Amex have been more proactive?
Last year the company launched its American Express checkout, an alternative payment system its users can utilize to make payments on partnering merchant apps and websites. It is trying its best, but somehow the company always manages to be far more than fashionably late to the party. Had the company launched this five years ago things would have been completely different today. Amex could have easily had a PayPal equivalent of its own by now, but that will never be because it was late. Its product launches always strike me as reactive rather than proactive.
On the positive side, the company does have a strong enough market position to keep going the way it is. However, it needs to realize that businesses that do not stay relevant today will not live to see tomorrow. That tomorrow might still be far away but unless American Express can get rid of its reactive attitude, there will be trouble down the road.
Disclosure:I have no positions in any of the stocks mentioned above and no intention to initiate a position in the next 72 hours.
Start afree seven-day trialof Premium Membership to GuruFocus.
This article first appeared onGuruFocus.
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• AXP 15-Year Financial Data
• The intrinsic value of AXP
• Peter Lynch Chart of AXP || American Express Needs to Shake Off Its Lethargy: - By Sangara Narayanan Of the top four financial services companies in the world, American Express ( AXP ) earns the most and is also the cheapest to buy. American Express made $32.818 billion in 2015, nearly 2.3 times what Visa (NYSE:V) made last year. But the premium credit card seller is trading at an extraordinarily low 12 times its earnings - far less than Visa, MasterCard ( MA ) and PayPal ( PYPL ). The root cause of the problem is that the market's expectation with American Express has turned sour as the company's revenue growth was nearly flat, growing from $31.582 billion in 2012 to $32.818 billion in 2015. Warning! GuruFocus has detected 3 Warning Sign with MIDD. Click here to check it out. AXP 15-Year Financial Data The intrinsic value of AXP Peter Lynch Chart of AXP Comparison with Visa is inevitable as they both operate in the same industry but at different market positions. Visa goes after the mass market while American Express has always gone after the premium segment. But, unfortunately, unlike what you typically see in other industries where premium providers enjoy fat margins, American Express, despite its positioning, has an operating margin of around 25% while Visa has enjoyed operating margins in excess of 60% for the last three years. Visa's sales were lower than Amex in 2015, but the company's operating income was a full $1 billion higher than Amex. Despite this huge discrepancy in bottom-line earnings, Visa has managed to grow at the faster rate than American Express while MasterCard and PayPal have kept up their paces as well. American Express was the only company of the top four to see its revenues barely inch up in the last three years, and that's the reason why the company is trading at lower multiples compared to other players in the segment. One of the biggest problems with American Express is that the company has stayed rigid with its business strategies, always staying within its traditional model of targeting high income earners and high net worth individuals. In contrast, Visa has always remained active in engaging forward-looking technologies and kept pace with developments in the industry. What has Visa done differently? Take, for example, Visa recently inviting banks to test the effectiveness of blockchain technology. Blockchain is the technology that propelled Bitcoin into our world. The concept of shared ledger itself isn't new, but to test it in an interbank environment is completely new. If successful it can completely transform the way settlements are done between banks in different time zones, reducing cost and time while also increasing effectiveness, accountability and data integrity. Story continues The technology may work or fail, but Visa seems to be always ready to look for the next thing it can add to its portfolio. Here's another example: The entire world knows digital mobile payment is the next financial payment wave. Tech majors like Apple ( AAPL ) and Google ( GOOG ) have already jumped into the game, and PayPal's Venmo is also looking to expand aggressively into the segment. All three top players in the digital wallet space - Apple, Google and PayPal - have struck deals with credit card companies as part of their plans to capture the digital payment world of the future, and Visa stands to gain from each of these partnerships. koeBopeWyaLh9pp5m1rvJVugs2yXy77_nwH3FW7l Of course, American Express is also on Apple Pay, but if Amex had been the one to push Apple into launching a payment system like Apple Pay, it would have been an entirely different matter. The problem is American Express remains a mute spectator while its peers go after the best opportunities that will allow them to retain their massive moats and keep growing in the process. I see that as American Express' biggest problem, and the reason for its low valuation. Could Amex have been more proactive? Last year the company launched its American Express checkout, an alternative payment system its users can utilize to make payments on partnering merchant apps and websites. It is trying its best, but somehow the company always manages to be far more than fashionably late to the party. Had the company launched this five years ago things would have been completely different today. Amex could have easily had a PayPal equivalent of its own by now, but that will never be because it was late. Its product launches always strike me as reactive rather than proactive. On the positive side, the company does have a strong enough market position to keep going the way it is. However, it needs to realize that businesses that do not stay relevant today will not live to see tomorrow. That tomorrow might still be far away but unless American Express can get rid of its reactive attitude, there will be trouble down the road. Disclosure: I have no positions in any of the stocks mentioned above and no intention to initiate a position in the next 72 hours. Start a free seven-day trial of Premium Membership to GuruFocus. This article first appeared on GuruFocus . Warning! GuruFocus has detected 3 Warning Sign with MIDD. Click here to check it out. AXP 15-Year Financial Data The intrinsic value of AXP Peter Lynch Chart of AXP View comments || PayPal's Biggest Threat Is Still Unknown, but It Is Out There: - By Nicholas Kitonyi
PayPal(PYPL) is the world's largest online payments platform and its transition in the mobile payments market appears to be taking shape with user-friendly secure apps created for the main market drivers.
At the end of May, I wrote a piece discussing howPayPal has been slimming upto optimize its operations around partnerships that provide a good case for sustainable growth.
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• PYPL 15-Year Financial Data
• The intrinsic value of PYPL
• Peter Lynch Chart of PYPL
It discontinued support forBlackberry's (BBRY) OS with now only the mobile web version available on the ailing smartphone maker's devices.Microsoft's (MSFT) Windows Phone OS andAmazon's (AMZN) Fire Phone were also cut out as PayPal moved to focus on iOS and Android based platforms.
This move appeared to make sense, and it still does. However, the company has also been making various changes to its user policy as it seeks to tighten security and increase restriction on who can and cannot use its online money transfer services.
Currently, PayPal is only partially available in most of the emerging and developing countries. Its primary markets remain in North America and Western Europe, which at the moment offer a modest growth potential.
Leading smartphone manufacturersSamsung Electronics(SSNLF) andApple(AAPL) on the other hand, have realized there is a great opportunity up for the taking in these emerging markets and have moved to manufacture devices tailor-made for these markets.
As such, PayPal should be ready to do the same if it is to maintain its global leadership in online payments in the foreseeable future. The company already faces competition from European-based playersPaySafe Group(Skrill) (PAYS.L), Neteller,Worldpay Group(WPG.L) and several other localized platforms. This will make its presence in these countries difficult as most locals move to utilize the locally friendly alternatives.
For instance, KIWI is currently a major threat in Australia and New Zealand, whereas Moneta.ru is the preferred choice for many in Russia. On the other hand, Ali Pay continues to dominate in China.
That is not all, companies are now introducing alternatives which are backed by the emergence of cryptocurrencies in the financial markets. BitGold is a platform that allows people to store money in the form of gold bullion, but in this case, it has been made available to retail and individual investors.
On the other hand, Bitcoin has also sparked the launch of several startups that seek to disrupt the payments industry. A good example is Paxful, which is a Bitcoin-based online payments platform that allows people to make payments online without the requirement of a bank account or credit card.
Most of these platforms also support online gambling and financial trading, which give them the link to one of the world's largest marketplaces. In contrast, PayPal does not support payments for online gambling and financial trading platforms. This means that PayPal may not be able to access some users who prefer to put all their online payments business in one wallet.
However, most users that prioritize on security might still end up putting PayPal ahead of the rest, which means that at the moment, it is hard to pinpoint a single alternative to PayPal that could be the online payments giant's main threat going forward.
There are those who still think that Apple Pay andAlphabet's (GOOG) (GOOGL) Google Wallet could spark the downfall of PayPal, especially given their massive user bases from other services they provide. However, these too are subject to stringent regulatory requirements which make it harder for them to provide their services in most countries.
As such, with the U.S., the strictest nation when it comes to financial regulation accounting for just about 300 million worth of addressable market for online payments users, the larger cake is pretty much left for foreign players to cut their share.
This means that while PayPal's main threat to its global domination is still unknown, we could safely say that it is out there. It could be Paxful, Skrill, Neteller or BitGold, among others. You never know, but it is out there.
Conclusion
In summary, PayPal's obstacles to maintaining its global domination of the online payments market are policy-based. All its users agree with the terms, but probably not everyone likes them. Tweaking the terms to accommodate the current outlier class could see the company lose most of its users, especially the ones that like the current terms.
Therefore, the best card the company can play is to keep its services better than those of its rivals, but that can be replicated, especially given the fact we are currently in the age of "copy and paste" when it comes to innovation.
Disclosure: I have no position in any stock mentioned in this article.
Start afree 7-day trial of Premium Membershipto GuruFocus.
This article first appeared onGuruFocus.
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• PYPL 15-Year Financial Data
• The intrinsic value of PYPL
• Peter Lynch Chart of PYPL || PayPal's Biggest Threat Is Still Unknown, but It Is Out There: - By Nicholas Kitonyi PayPal ( PYPL ) is the world's largest online payments platform and its transition in the mobile payments market appears to be taking shape with user-friendly secure apps created for the main market drivers. At the end of May, I wrote a piece discussing how PayPal has been slimming up to optimize its operations around partnerships that provide a good case for sustainable growth. Warning! GuruFocus has detected 8 Warning Signs with MSFT. Click here to check it out. PYPL 15-Year Financial Data The intrinsic value of PYPL Peter Lynch Chart of PYPL It discontinued support for Blackberry 's ( BBRY ) OS with now only the mobile web version available on the ailing smartphone maker's devices. Microsoft 's ( MSFT ) Windows Phone OS and Amazon 's ( AMZN ) Fire Phone were also cut out as PayPal moved to focus on iOS and Android based platforms. This move appeared to make sense, and it still does. However, the company has also been making various changes to its user policy as it seeks to tighten security and increase restriction on who can and cannot use its online money transfer services. Currently, PayPal is only partially available in most of the emerging and developing countries. Its primary markets remain in North America and Western Europe, which at the moment offer a modest growth potential. Leading smartphone manufacturers Samsung Electronics (SSNLF) and Apple ( AAPL ) on the other hand, have realized there is a great opportunity up for the taking in these emerging markets and have moved to manufacture devices tailor-made for these markets. As such, PayPal should be ready to do the same if it is to maintain its global leadership in online payments in the foreseeable future. The company already faces competition from European-based players PaySafe Group (Skrill) ( PAYS.L ), Neteller, Worldpay Group ( WPG.L ) and several other localized platforms. This will make its presence in these countries difficult as most locals move to utilize the locally friendly alternatives. Story continues For instance, KIWI is currently a major threat in Australia and New Zealand, whereas Moneta.ru is the preferred choice for many in Russia. On the other hand, Ali Pay continues to dominate in China. That is not all, companies are now introducing alternatives which are backed by the emergence of cryptocurrencies in the financial markets. BitGold is a platform that allows people to store money in the form of gold bullion, but in this case, it has been made available to retail and individual investors. On the other hand, Bitcoin has also sparked the launch of several startups that seek to disrupt the payments industry. A good example is Paxful, which is a Bitcoin-based online payments platform that allows people to make payments online without the requirement of a bank account or credit card. Most of these platforms also support online gambling and financial trading, which give them the link to one of the world's largest marketplaces. In contrast, PayPal does not support payments for online gambling and financial trading platforms. This means that PayPal may not be able to access some users who prefer to put all their online payments business in one wallet. However, most users that prioritize on security might still end up putting PayPal ahead of the rest, which means that at the moment, it is hard to pinpoint a single alternative to PayPal that could be the online payments giant's main threat going forward. There are those who still think that Apple Pay and Alphabet 's ( GOOG ) ( GOOGL ) Google Wallet could spark the downfall of PayPal, especially given their massive user bases from other services they provide. However, these too are subject to stringent regulatory requirements which make it harder for them to provide their services in most countries. As such, with the U.S., the strictest nation when it comes to financial regulation accounting for just about 300 million worth of addressable market for online payments users, the larger cake is pretty much left for foreign players to cut their share. This means that while PayPal's main threat to its global domination is still unknown, we could safely say that it is out there. It could be Paxful, Skrill, Neteller or BitGold, among others. You never know, but it is out there. Conclusion In summary, PayPal's obstacles to maintaining its global domination of the online payments market are policy-based. All its users agree with the terms, but probably not everyone likes them. Tweaking the terms to accommodate the current outlier class could see the company lose most of its users, especially the ones that like the current terms. Therefore, the best card the company can play is to keep its services better than those of its rivals, but that can be replicated, especially given the fact we are currently in the age of "copy and paste" when it comes to innovation. Disclosure : I have no position in any stock mentioned in this article. Start a free 7-day trial of Premium Membership to GuruFocus. This article first appeared on GuruFocus . Warning! GuruFocus has detected 8 Warning Signs with MSFT. Click here to check it out. PYPL 15-Year Financial Data The intrinsic value of PYPL Peter Lynch Chart of PYPL || Your first trade for Friday, September 9: The "Fast Money" traders shared their first moves for the market open.
Tim Seymour was a buyer of Occidental Petroleum(OXY).
Brian Kelly was a buyer of the Financial Select Sector SPDR Fund(NYSE Arca: XLF).
Dan Nathan was a seller of Twitter(TWTR)puts.
Guy Adami was a buyer of Restoration Hardware(: ), which reported quarterly numbers after Thursday's market close.
Trader disclosure: On September 8, 2016, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders:Tim Seymour is long APC, AVP, BAC, BBRY, CLF, DAL, DO, DVYE, EDC, EWZ, F, FB, FCX, FXI, GM, GOOGL, GRMN, GE, INTC, LQD, M, MCD, MPEL, NKE, RACE, RAI, RH, RL, SINA, T, TWTR, UA, VALE, VZ, XOM. short: SPY, XRT; Tim's firm is long ABX, BABA, BIDU, CBD, CLF, EWZ, F, HD, KO, MCD, MPEL, NKE, PEP, PF, SAVE, SBUX, SINA, VALE, VIAB, WMT, WEN, X, YHOO, short HYG, IWM, UAL. Dan Nathan is long TWTR, IWM long Sept put, long PYPL call calendar, XOP Sept put spread, BAC long Sept put, Long FEZ Nov put spread, long EEM Nov put spread, long FB Sept put spread, AAPL long Nov 105/95 put spread. Brian Kelly is long Bitcoin, CME, DXJ, GDX, KBE, SLV, TLT, VXX, XLF, XOP, US Dollar UUP; he is short EUR=, JPY=. Guy Adami is long CELG, EXAS, GDX, INTC, Guy Adami's wife, Linda Snow, works at Merck. || Your first trade for Friday, September 9: The " Fast Money " traders shared their first moves for the market open. Tim Seymour was a buyer of Occidental Petroleum ( OXY ) . Brian Kelly was a buyer of the Financial Select Sector SPDR Fund (NYSE Arca: XLF) . Dan Nathan was a seller of Twitter ( TWTR ) puts. Guy Adami was a buyer of Restoration Hardware (: ) , which reported quarterly numbers after Thursday's market close. Trader disclosure: On September 8, 2016, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Tim Seymour is long APC, AVP, BAC, BBRY, CLF, DAL, DO, DVYE, EDC, EWZ, F, FB, FCX, FXI, GM, GOOGL, GRMN, GE, INTC, LQD, M, MCD, MPEL, NKE, RACE, RAI, RH, RL, SINA, T, TWTR, UA, VALE, VZ, XOM. short: SPY, XRT; Tim's firm is long ABX, BABA, BIDU, CBD, CLF, EWZ, F, HD, KO, MCD, MPEL, NKE, PEP, PF, SAVE, SBUX, SINA, VALE, VIAB, WMT, WEN, X, YHOO, short HYG, IWM, UAL. Dan Nathan is long TWTR, IWM long Sept put, long PYPL call calendar, XOP Sept put spread, BAC long Sept put, Long FEZ Nov put spread, long EEM Nov put spread, long FB Sept put spread, AAPL long Nov 105/95 put spread. Brian Kelly is long Bitcoin, CME, DXJ, GDX, KBE, SLV, TLT, VXX, XLF, XOP, US Dollar UUP; he is short EUR=, JPY=. Guy Adami is long CELG, EXAS, GDX, INTC, Guy Adami's wife, Linda Snow, works at Merck. || Inside a Wall Street innovation lab set up to 'reshape the entire work experience': BNP Paribas Innovation Zone (Tina Wadhwa) Can 5,000 square feet transform a bank? BNP Paribas clearly hopes so. It opened what it's calling an "innovation zone" Wednesday on the 30th floor of its midtown Manhattan US headquarters. Banking is changing fast, with startups encroaching on the big companies' turf, and new technologies like blockchain, which is decentralized, threatening to take some control away from big banks. That's why competitors are acquiring startups and launching accelerators. BNP Paribas is hoping this lab will help it stay relevant. "The goal here is to foster all kinds of innovation and to reshape the entire work experience," said Bruno d'Illiers, COO of BNP Paribas North America. He sees it as a place where employees from different divisions can meet and brainstorm. "The lab is open to everybody," he said. BNP Paribas is a big player in international finance worldwide. However, its US presence is a growing, but relatively small part of its business. It has 188,000 employees worldwide, with 16,000 in North America. Its better-known competitors are racing to acquire or partner with hot fintech startups . JPMorgan teamed up with On Deck Capital, an online lender. UBS' wealth-management arm teamed up with SigFig , a so-called robo-advisor. Another automated investment company, FutureAdvisor, was acquired by BlackRock. And BNP has watched as other banks like Wells Fargo, Citi and UBS have established their own in-house fintech labs and innovation centers in recent years, complete with the kind of startup-style that's synonymous with Silicon Valley. BNP Paribas Innovation Lab (Tina Wadhwa) BNP's is no different. Its kitchen has free drinks and snacks. Its desks and chairs are made of recycled materials. It looks more Brooklyn than big bank. "I was inspired by how my own kids are working these days," said Cecile Vilaraseau-Remy, head of transformation and premises at BNP Paribas Americas. There's a bright and airy feel. It's modern, if rather stark. The employees that do come up to the lab are likely to spend a lot of time thinking about blockchain, the technology behind Bitcoin. It's thought to be a more secure way to send and verify financial transactions, as it eliminates middlemen and ensures everyone involved has an indelible record of money coming and going. Story continues BNP Paribas is an investor in Digital Asset Holdings (DAH) , the blockchain startup run by former JPMorgan CFO Blythe Masters. BNP's head of commodities and FX, Catherine Flax, sits on the board and is involved with the startup's efforts to implement blockchain technology to business processes. BNP is also one of forty banks that signed on to R3, the industry wide body trying to bring blockchain technology to finance. To show it's serious, the launch of the innovation lab was combined with what it's calling " America’s Blockchain Bizhackathon," which brought together industry leaders in the b lockchain community including the CMO of Digital Asset Holdings, the co-Founder of R3, fintech investors, and a blockchain strategist at Microsoft. BNP Paribas kitchen (Tina Wadhwa) More than 200 employees attended the event and some will spend part of this week figuring out how BNP might benefit from implementing blockchain technology. T hen the space will open up to all employees. Others using the space may work on big data, robotics, automation, and artificial intelligence, areas that have only recently started to infiltrate the staid world of banking. The company is also running what it calls an "Ideation Campaign," which asks employees to submit proposals to improve the bank's business processes. Innovation labs have a mixed track record. It can be hard to transplant a freewheeling creative spirit into companies with strong hierarchies and an entrenched culture, and some companies end up pulling the plug on the experiments. Its high ceilings and laptop-friendly wood tables may inspire BNP's employees come up with the ideas that help the company adapt and compete. Or it could just be a place for employees to get a free snack. NOW WATCH: SCOTT GALLOWAY: Netflix could be the next $300 billion company More From Business Insider I’ve been sleeping on the perfect sheets for the spring and summer, and I’ve never slept better Here's who would win if Russia, China, and America all went to war right now Apple stock drops after it misses on revenue, signals softness ahead || Inside a Wall Street innovation lab set up to 'reshape the entire work experience': (Tina Wadhwa)
Can 5,000 square feet transform a bank?
BNP Paribas clearly hopes so. It opened what it's calling an "innovation zone" Wednesday on the 30th floor of its midtown Manhattan US headquarters.
Banking is changing fast, with startups encroaching on the big companies' turf, and new technologies like blockchain, which is decentralized, threatening to take some control away from big banks.
That's why competitors are acquiring startups and launching accelerators. BNP Paribas is hoping this lab will help it stay relevant.
"The goal here is to foster all kinds of innovation and to reshape the entire work experience," said Bruno d'Illiers, COO of BNP Paribas North America. He sees it as a place where employees from different divisions can meet and brainstorm.
"The lab is open to everybody," he said.
BNP Paribas is a big player in international finance worldwide. However, its US presence is a growing, but relatively small part of its business. It has 188,000 employees worldwide, with16,000in North America.
Its better-known competitors are racing to acquire or partner with hotfintech startups. JPMorgan teamed up with On Deck Capital, an online lender. UBS' wealth-management arm teamed up withSigFig, a so-called robo-advisor. Another automated investment company, FutureAdvisor, was acquired by BlackRock.
And BNP has watched as other banks like Wells Fargo, Citi and UBS have established their own in-house fintech labs and innovation centers in recent years, complete with the kind of startup-style that's synonymous with Silicon Valley.
(Tina Wadhwa)
BNP's is no different. Its kitchen has free drinks and snacks. Its desks and chairs are made of recycled materials. It looks more Brooklyn than big bank.
"I was inspired by how my own kids are working these days," said CecileVilaraseau-Remy, head of transformation and premises at BNP Paribas Americas.
There's a bright and airy feel. It's modern, if rather stark.
The employees that do come up to the lab are likely to spend a lot of time thinking about blockchain, the technology behind Bitcoin. It's thought to be a more secure way to send and verify financial transactions, as it eliminates middlemen and ensures everyone involved has an indelible record of money coming and going.
BNP Paribas is an investor inDigital Asset Holdings (DAH), the blockchain startup run by former JPMorgan CFO Blythe Masters. BNP's head of commodities and FX, Catherine Flax, sits on the board and is involved with the startup's efforts to implement blockchain technology to business processes. BNP is also one of forty banks that signed on toR3, the industry wide bodytrying to bring blockchain technology to finance.
To show it's serious, the launch of the innovation lab was combined with what it's calling "America’s Blockchain Bizhackathon," which brought together industry leaders in the blockchain community including the CMO of Digital Asset Holdings, the co-Founder of R3, fintech investors, and a blockchain strategist at Microsoft.
(Tina Wadhwa)More than 200 employees attended the event and some will spend part of this week figuring out how
BNP might benefit from implementing blockchain technology. Then the space will open up to all employees.
Others using the space may work on big data, robotics, automation, and artificial intelligence, areas that have only recently started to infiltrate the staid world of banking.
The company is also running what it calls an "Ideation Campaign," which asks employees to submit proposals to improve the bank's business processes.
Innovation labs have a mixed track record. It can be hard to transplant a freewheeling creative spirit into companies with strong hierarchies and an entrenched culture, and some companies end uppulling the plugon the experiments.
Its high ceilings and laptop-friendly wood tables may inspire BNP's employees come up with the ideas that help the company adapt and compete. Or it could just be a place for employees to get a free snack.
NOW WATCH:SCOTT GALLOWAY: Netflix could be the next $300 billion company
More From Business Insider
• I’ve been sleeping on the perfect sheets for the spring and summer, and I’ve never slept better
• Here's who would win if Russia, China, and America all went to war right now
• Apple stock drops after it misses on revenue, signals softness ahead || Your first trade for Thursday, September 8: The "Fast Money" traders gave their final trades of the day.
Pete Najarian is a buyer of Macy's (M(NYSE:M)).
Steve Grasso is a buyer of Nike (NKE(NKE)).
Brian Kelly is a buyer of the SPDR S&P Oil & Gas Explore & Prod. (XOP(NYSE Arca: XOP)).
Guy Adami is a buyer of Whole Food Market (WFM(WFM)).
Trader disclosure: OnWednesday, September 7the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders:
PETE NAJARIAN is long: AAPL, BAC, BMY, DIS, DISCA, GE, KMI, KMI.A, KO, LUX, PEP, PFE, TGT, VIAB Long Calls: AAL, AMD, ABT, AKS, BAC, CIT, CNX, COP, CRM, CSCO, DAL, DISH, DVN, EGO, ETP, FB, FSLR, FXI, GLD, HALO, KGC, KO, LLY, M, MS, MT, MU, NEM, SBUX, SLV, TGT, TMUS, TWTR, TTS, UA, VRX, XLE Puts: CLF, MBLY, MRO, TSLA, EEM
STEVE GRASSOis long BA, CC, EVGN, KBH, MJNA, MON, MU, NKE, OLN, PFE, PHM, T, TWTR, GDX Grasso's Kids Own EFA, EFG, EWJ, IJR, SPY NO SHORTS Stuart Frankel & Co Inc. and some of its Partners have a financial interest in LDP, WDR, AVP, CVX, FCX, ICE, KDUS, KO, MAT, MCD, MJNA, NE, NEM, OLN, OXY, RIG, STAG, TAXI, TEX, TITXF, URI, VALE, WDR, WYNN, ZNGA, CUBA, HSPO, ICE, AMZN, MJNA, TITXF, NXTD, SPY, QQQ, DIA, XLI, BGCP, VIRT, JCP, GE, AIR FP
BRIAN KELLYis long Bitcoin, CME, DXJ, GDX, KBE, SLV, TLT, VXX, XLF, XOP, US Dollar UUP; he is short EUR=, JPY=
GUY ADAMIis long CELG, EXAS, GDX, INTC, Guy Adami's wife, Linda Snow, works at Merck. || Your first trade for Thursday, September 8: The " Fast Money " traders gave their final trades of the day. Pete Najarian is a buyer of Macy's (M (NYSE: M ) ). Steve Grasso is a buyer of Nike (NKE ( NKE ) ). Brian Kelly is a buyer of the SPDR S&P Oil & Gas Explore & Prod. (XOP (NYSE Arca: XOP) ). Guy Adami is a buyer of Whole Food Market (WFM ( WFM ) ). Trader disclosure: On Wednesday, September 7 the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: PETE NAJARIAN is l ong: AAPL, BAC, BMY, DIS, DISCA, GE, KMI, KMI.A, KO, LUX, PEP, PFE, TGT, VIAB Long Calls: AAL, AMD, ABT, AKS, BAC, CIT, CNX, COP, CRM, CSCO, DAL, DISH, DVN, EGO, ETP, FB, FSLR, FXI, GLD, HALO, KGC, KO, LLY, M, MS, MT, MU, NEM, SBUX, SLV, TGT, TMUS, TWTR, TTS, UA, VRX, XLE Puts: CLF, MBLY, MRO, TSLA, EEM STEVE GRASSO is long BA, CC, EVGN, KBH, MJNA, MON, MU, NKE, OLN, PFE, PHM, T, TWTR, GDX Grasso's Kids Own EFA, EFG, EWJ, IJR, SPY NO SHORTS Stuart Frankel & Co Inc. and some of its Partners have a financial interest in LDP, WDR, AVP, CVX, FCX, ICE, KDUS, KO, MAT, MCD, MJNA, NE, NEM, OLN, OXY, RIG, STAG, TAXI, TEX, TITXF, URI, VALE, WDR, WYNN, ZNGA, CUBA, HSPO, ICE, AMZN, MJNA, TITXF, NXTD, SPY, QQQ, DIA, XLI, BGCP, VIRT, JCP, GE, AIR FP BRIAN KELLY is long Bitcoin, CME, DXJ, GDX, KBE, SLV, TLT, VXX, XLF, XOP, US Dollar UUP; he is short EUR=, JPY= GUY ADAMI is long CELG, EXAS, GDX, INTC, Guy Adami's wife, Linda Snow, works at Merck. || Trouble in aisle 9: Traders look for opportunity in the grocers: The "Fast Money" traders debated whether there may be opportunities in the grocers after Sprouts Farmers Market(SFM)issued disappointing guidance, dragging down other names in the space.
Sprouts said in a statement that industry-wide promotions have negatively affected retail deflation and traffic generation, amid a "prolonged deflationary environment" and "competitive landscape."
The stock fell more than 13 percent on Wednesday. Shares of Kroger(KR)and Whole Foods Market(WFM)fell about 4 percent and 5 percent, respectively.
Sprouts said it now expects third-quarter sales growth to be roughly flat. Wall Street had previously expected Sprouts to grow sales by about 2.2 percent during the quarter, according to a FactSet consensus estimate.
Trader Brian Kelly said he isn't interested in the grocers and would rather own something like sugar. He pointed to the Barclays Bank iPath Bloomberg Sugar Subindex Total Return(NYSE Arca: SGG), which has surged more than 33 percent this year.
Even though the whole industry felt the pressure on Wednesday, trader Pete Najarian said that companies like Target(TGT), Wal-Mart(WMT)and Kroger can better compete in the long run.
Trader Steve Grasso said that he is more interested in the producers like Tyson Foods(TSN)than the grocers.
Trader Guy Adami said he actually likes Whole Foods because of the risk and reward. He said that while this is "a challenged story at best," the stock closed at $29.08 on Wednesday, about a dollar above its 52-week low of $28.07.
Disclosures:
PETE NAJARIAN
Long stock: AAPL, BAC, BMY, DIS, DISCA, GE, KMI, KMI.A, KO, LUX, PEP, PFE, TGT, VIAB and long calls: AAL, AMD, ABT, AKS, BAC, CIT, CNX, COP, CRM, CSCO, DAL, DISH, DVN, EGO, ETP, FB, FSLR, FXI, GLD, HALO, KGC, KO, LLY, M, MS, MT, MU, NEM, SBUX, SLV, TGT, TMUS, TWTR, TTS, UA, VRX, XLE Puts: CLF, MBLY, MRO, TSLA, EEM
STEVE GRASSO
Steve Grasso is long BA, CC, EVGN, KBH, MJNA, MON, MU, NKE, OLN, PFE, PHM, T, TWTR, GDX. Grasso's children own EFA, EFG, EWJ, IJR, SPY. No shorts. Stuart Frankel & Co Inc. and some of its Partners have a financial interest in LDP, WDR, AVP, CVX, FCX, ICE, KDUS, KO, MAT, MCD, MJNA, NE, NEM, OLN, OXY, RIG, STAG, TAXI, TEX, TITXF, URI, VALE, WDR, WYNN, ZNGA, CUBA, HSPO, ICE, AMZN, MJNA, TITXF, NXTD, SPY, QQQ, DIA, XLI, BGCP, VIRT, JCP, GE, AIR FP
BRIAN KELLY
Brian Kelly is long Bitcoin, CME, DXJ, GDX, KBE, SLV, TLT, VXX, XLF, XOP, US Dollar UUP; he is short the euro and Japanese yen.
GUY ADAMI
Guy Adami is long CELG, EXAS, GDX, INTC. Adami's wife, Linda Snow, works at Merck. || Trouble in aisle 9: Traders look for opportunity in the grocers: The "Fast Money" traders debated whether there may be opportunities in the grocers after Sprouts Farmers Market ( SFM ) issued disappointing guidance, dragging down other names in the space. Sprouts said in a statement that industry-wide promotions have negatively affected retail deflation and traffic generation, amid a "prolonged deflationary environment" and "competitive landscape." The stock fell more than 13 percent on Wednesday. Shares of Kroger ( KR ) and Whole Foods Market ( WFM ) fell about 4 percent and 5 percent, respectively. Sprouts said it now expects third-quarter sales growth to be roughly flat. Wall Street had previously expected Sprouts to grow sales by about 2.2 percent during the quarter, according to a FactSet consensus estimate. Trader Brian Kelly said he isn't interested in the grocers and would rather own something like sugar. He pointed to the Barclays Bank iPath Bloomberg Sugar Subindex Total Return (NYSE Arca: SGG) , which has surged more than 33 percent this year. Even though the whole industry felt the pressure on Wednesday, trader Pete Najarian said that companies like Target ( TGT ) , Wal-Mart ( WMT ) and Kroger can better compete in the long run. Trader Steve Grasso said that he is more interested in the producers like Tyson Foods ( TSN ) than the grocers. Trader Guy Adami said he actually likes Whole Foods because of the risk and reward. He said that while this is "a challenged story at best," the stock closed at $29.08 on Wednesday, about a dollar above its 52-week low of $28.07. Disclosures: PETE NAJARIAN Long stock: AAPL, BAC, BMY, DIS, DISCA, GE, KMI, KMI.A, KO, LUX, PEP, PFE, TGT, VIAB and long calls: AAL, AMD, ABT, AKS, BAC, CIT, CNX, COP, CRM, CSCO, DAL, DISH, DVN, EGO, ETP, FB, FSLR, FXI, GLD, HALO, KGC, KO, LLY, M, MS, MT, MU, NEM, SBUX, SLV, TGT, TMUS, TWTR, TTS, UA, VRX, XLE Puts: CLF, MBLY, MRO, TSLA, EEM STEVE GRASSO Steve Grasso is long BA, CC, EVGN, KBH, MJNA, MON, MU, NKE, OLN, PFE, PHM, T, TWTR, GDX. Grasso's children own EFA, EFG, EWJ, IJR, SPY. No shorts. Stuart Frankel & Co Inc. and some of its Partners have a financial interest in LDP, WDR, AVP, CVX, FCX, ICE, KDUS, KO, MAT, MCD, MJNA, NE, NEM, OLN, OXY, RIG, STAG, TAXI, TEX, TITXF, URI, VALE, WDR, WYNN, ZNGA, CUBA, HSPO, ICE, AMZN, MJNA, TITXF, NXTD, SPY, QQQ, DIA, XLI, BGCP, VIRT, JCP, GE, AIR FP Story continues BRIAN KELLY Brian Kelly is long Bitcoin, CME, DXJ, GDX, KBE, SLV, TLT, VXX, XLF, XOP, US Dollar UUP; he is short the euro and Japanese yen. GUY ADAMI Guy Adami is long CELG, EXAS, GDX, INTC. Adami's wife, Linda Snow, works at Merck. || Bitcoin Services Inc. Secures New Facility, and 15 New Bitcoin Miners; Company to Begin Mining Bitcoin, Litecoin, Dogecoin, and Ethereum: GRANDVILLE, MI / ACCESSWIRE / September 6, 2016 /Bitcoin Services Inc. (OTC Pink: BTSC) announced it secured a 3,500 square foot facility, and fifteen new Bitmain Antminers S7 Batch 8, stable at 4.73TH/s. Antminer S7 ~4.73TH/s @ .25W/GH 28nm ASIC Bitcoin Miners. In addition to mining Bitcoin, it will also start mining Litecoin, Dogecoin, and Ethereum. Bitcoin Services Inc secured a strong electrical supply which is key to successful mining and its profitability.
About Bitcoin Services Inc.:The issuer's business operations are each Internet based to the consumer and consist of three separate streams, as follows: (1) bitcoin escrow services, (2) bitcoin mining, and (3) blockchain software development. The principal products and services are the mining of bitcoins, proving escrow services for buyers and sellers of bitcoins, and the development and sale of blockchain software. The market for these services and products is Worldwide, and sold and marketed on the Internet.
Safe Harbor Statement
This release contains forward-looking statements within the meaning of Section 27a of the Securities Act of 1933, as amended and section 21e of the Securities and Exchange Act of 1934, as amended. Those statements include the intent, belief or current expectations of the company and its management team. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. Accomplishing the strategy described herein is significantly dependent upon numerous factors, many that are not in management's control. Some of these factors include the ability of the company to raise sufficient capital, attract qualified management, attract new customers and effectively compete against similar companies.
CONTACT:
info@bitcoinservices.biz
SOURCE:Bitcoin Services Inc. || Bitcoin Services Inc. Secures New Facility, and 15 New Bitcoin Miners; Company to Begin Mining Bitcoin, Litecoin, Dogecoin, and Ethereum: GRANDVILLE, MI / ACCESSWIRE / September 6, 2016 /Bitcoin Services Inc. (OTC Pink: BTSC) announced it secured a 3,500 square foot facility, and fifteen new Bitmain Antminers S7 Batch 8, stable at 4.73TH/s. Antminer S7 ~4.73TH/s @ .25W/GH 28nm ASIC Bitcoin Miners. In addition to mining Bitcoin, it will also start mining Litecoin, Dogecoin, and Ethereum. Bitcoin Services Inc secured a strong electrical supply which is key to successful mining and its profitability.
About Bitcoin Services Inc.:The issuer's business operations are each Internet based to the consumer and consist of three separate streams, as follows: (1) bitcoin escrow services, (2) bitcoin mining, and (3) blockchain software development. The principal products and services are the mining of bitcoins, proving escrow services for buyers and sellers of bitcoins, and the development and sale of blockchain software. The market for these services and products is Worldwide, and sold and marketed on the Internet.
Safe Harbor Statement
This release contains forward-looking statements within the meaning of Section 27a of the Securities Act of 1933, as amended and section 21e of the Securities and Exchange Act of 1934, as amended. Those statements include the intent, belief or current expectations of the company and its management team. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. Accomplishing the strategy described herein is significantly dependent upon numerous factors, many that are not in management's control. Some of these factors include the ability of the company to raise sufficient capital, attract qualified management, attract new customers and effectively compete against similar companies.
CONTACT:
info@bitcoinservices.biz
SOURCE:Bitcoin Services Inc. || Bitcoin Services Inc. Secures New Facility, and 15 New Bitcoin Miners; Company to Begin Mining Bitcoin, Litecoin, Dogecoin, and Ethereum: GRANDVILLE, MI / ACCESSWIRE / September 6, 2016 / Bitcoin Services Inc. (OTC Pink: BTSC) announced it secured a 3,500 square foot facility, and fifteen new Bitmain Antminers S7 Batch 8, stable at 4.73TH/s. Antminer S7 ~4.73TH/s @ .25W/GH 28nm ASIC Bitcoin Miners. In addition to mining Bitcoin, it will also start mining Litecoin, Dogecoin, and Ethereum. Bitcoin Services Inc secured a strong electrical supply which is key to successful mining and its profitability. About Bitcoin Services Inc.: The issuer's business operations are each Internet based to the consumer and consist of three separate streams, as follows: (1) bitcoin escrow services, (2) bitcoin mining, and (3) blockchain software development. The principal products and services are the mining of bitcoins, proving escrow services for buyers and sellers of bitcoins, and the development and sale of blockchain software. The market for these services and products is Worldwide, and sold and marketed on the Internet. Safe Harbor Statement This release contains forward-looking statements within the meaning of Section 27a of the Securities Act of 1933, as amended and section 21e of the Securities and Exchange Act of 1934, as amended. Those statements include the intent, belief or current expectations of the company and its management team. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. Accomplishing the strategy described herein is significantly dependent upon numerous factors, many that are not in management's control. Some of these factors include the ability of the company to raise sufficient capital, attract qualified management, attract new customers and effectively compete against similar companies. CONTACT: info@bitcoinservices.biz SOURCE: Bitcoin Services Inc. || With millions of helpers (and $100M), SETI 'still hasn't found ET'— here's why: What would Enrico Fermi do?
For those unfamiliar with the name,Fermi was a famous scientistwho postulated that if intelligent life on other planets actually existed, we would have found them by now — or they certainly would have found us. It's an idea that resonates, especially with vast sums of public and privatemoney being thrown at space travel, accompanied by rapid advances in modern technology.
Approximately a year ago, Russian billionaire Yuri Milner gave a $100 million gift to over a ten year span to the University of California to aid in the search for extraterrestrial intelligence (SETI). Since then, the SETI Institute has been occupied with its prime directive—understanding the universe and trying to contact aliens.
Milner, a venture capitalist who was among the early investors in tech giants like Twitter and Facebook,is convinced that— given the billions of Earth-like planets and even more galaxies that exist — it's all but inconceivable that the human race is alone.
SETI is flush with new riches and interest in outer space has reached a crescendo unseen since at least the 'Space Race' of the last century. Yet for years, skeptics have argued that attempting to explore the outer reaches of space was a waste of time.
So it begs the question: Exactly why does discovering intelligent life outside of Earth remain so elusive, and why can't they (as in the aliens) be coaxed out of hiding?
"We haven't found E.T.," Dan Werthimer, SETI's chief scientist and an astronomer at University of California at Berkeley, joked to a panel discussion at "Star Trek: Mission New York" on Saturday.
E.T., of course, is a reference to the classic 1982 Steven Spielberg movie where an alien falls to earth, bringing a combination of delight and trouble to a group of kids.
As Werthimer explained in more sophisticated fashion to the legions of Trekkies assembled to commemorate "Star Trek's" 50th anniversary, maybe E.T. doesn't want to phone home — or maybe he can't.
Even with the morale and logistical boost $100 million can bring, it's quite possible E.T. may not exist.
"Maybe they're [aliens] waiting for us to stop killing each other," Werthimer said in response to a question about why extraterrestrial life hadn't yet reached out to the human race. He posited that they themselves could be lower than earthlings on the evolutionary and technological scale, or perhaps we're beneath them.
"There [are] a lot of different scenarios but the other possibility is that we really are alone and that's why we don't see them zooming around the galaxy," the scientist said.
According to SETI, on any given day there are at millions of volunteers around the world working on various projects to prove there's life outside of earth. On Saturday, Werthimer joked that at least a million of them "bounded by optimism leave their [computers] on" in the hopes of intercepting a message from another world.
"We've only had 100 years, but we'd be kind of lucky to find [alien life] now because we don't know what frequency to look at, we don't know if they're broadcasting radio and we can't cover the whole spectrum. But I'm optimistic because the technology is changing so fast."
According to Werthimer, some SETI volunteers, perhaps impatient waiting all these years for E.T.'s arrival, are moonlighting by mining for Bitcoin, the cryptocurrency that's can be 'mined' using special software and solving complex math problems.
Although numerous SETI volunteers take on side projects, digital currency mining is not a side gig Werthimer would recommend.
Bitcoin is attractive "because you can make money that way. Although you can't make much [because] I think your power bill is more expensive," he said. "I dont think it's a good idea."
All of which brings us full circle to the estimable Fermi. With all the technology surrounding human civilization andbillions being invested in space exploration, what exactly is preventing E.T.'s eagerly anticipated arrival?
One answer may be that aliens haven't yet caught up to humans technologically. "We don't know how to find them if they are more primitive than we are," Werthimer said. "What's the chance we can find a civilization that's just invented radio? It's kind of small in the 4 billion years of life on this planet."
The scientist added that same optimism keeps him reasonably hopeful that extraterrestrial life would eventually be found, as Earthlings were "just getting in the game" of trying to locate life on other planets—but no one should hold their breath.
"I think it's not going to be in my lifetime [that we find aliens], I think its going to be my students or my students students...it will take a couple of generations," Werthimer added.
"It's hard to predict but my guess is that it's going to be a generation or two" before the discovery is made, he said.
More From CNBC
• Top News and Analysis
• Latest News Video
• Personal Finance || With millions of helpers (and $100M), SETI 'still hasn't found ET'— here's why: What would Enrico Fermi do? For those unfamiliar with the name, Fermi was a famous scientist who postulated that if intelligent life on other planets actually existed, we would have found them by now — or they certainly would have found us. It's an idea that resonates, especially with vast sums of public and private money being thrown at space travel , accompanied by rapid advances in modern technology. Approximately a year ago, Russian billionaire Yuri Milner gave a $100 million gift to over a ten year span to the University of California to aid in the search for extraterrestrial intelligence (SETI). Since then, the SETI Institute has been occupied with its prime directive—understanding the universe and trying to contact aliens. Milner, a venture capitalist who was among the early investors in tech giants like Twitter and Facebook, is convinced that — given the billions of Earth-like planets and even more galaxies that exist — it's all but inconceivable that the human race is alone. SETI is flush with new riches and interest in outer space has reached a crescendo unseen since at least the 'Space Race' of the last century. Yet for years, skeptics have argued that attempting to explore the outer reaches of space was a waste of time. So it begs the question: Exactly why does discovering intelligent life outside of Earth remain so elusive, and why can't they (as in the aliens) be coaxed out of hiding? "We haven't found E.T.," Dan Werthimer, SETI's chief scientist and an astronomer at University of California at Berkeley, joked to a panel discussion at "Star Trek: Mission New York" on Saturday. E.T., of course, is a reference to the classic 1982 Steven Spielberg movie where an alien falls to earth, bringing a combination of delight and trouble to a group of kids. As Werthimer explained in more sophisticated fashion to the legions of Trekkies assembled to commemorate "Star Trek's" 50th anniversary, maybe E.T. doesn't want to phone home — or maybe he can't. Story continues Even with the morale and logistical boost $100 million can bring, it's quite possible E.T. may not exist. "Maybe they're [aliens] waiting for us to stop killing each other," Werthimer said in response to a question about why extraterrestrial life hadn't yet reached out to the human race. He posited that they themselves could be lower than earthlings on the evolutionary and technological scale, or perhaps we're beneath them. "There [are] a lot of different scenarios but the other possibility is that we really are alone and that's why we don't see them zooming around the galaxy," the scientist said. According to SETI, on any given day there are at millions of volunteers around the world working on various projects to prove there's life outside of earth. On Saturday, Werthimer joked that at least a million of them "bounded by optimism leave their [computers] on" in the hopes of intercepting a message from another world. "We've only had 100 years, but we'd be kind of lucky to find [alien life] now because we don't know what frequency to look at, we don't know if they're broadcasting radio and we can't cover the whole spectrum. But I'm optimistic because the technology is changing so fast." According to Werthimer, some SETI volunteers, perhaps impatient waiting all these years for E.T.'s arrival, are moonlighting by mining for Bitcoin, the cryptocurrency that's can be 'mined' using special software and solving complex math problems. Although numerous SETI volunteers take on side projects, digital currency mining is not a side gig Werthimer would recommend. Bitcoin is attractive "because you can make money that way. Although you can't make much [because] I think your power bill is more expensive," he said. "I dont think it's a good idea." All of which brings us full circle to the estimable Fermi. With all the technology surrounding human civilization and billions being invested in space exploration , what exactly is preventing E.T.'s eagerly anticipated arrival? One answer may be that aliens haven't yet caught up to humans technologically. "We don't know how to find them if they are more primitive than we are," Werthimer said. "What's the chance we can find a civilization that's just invented radio? It's kind of small in the 4 billion years of life on this planet." The scientist added that same optimism keeps him reasonably hopeful that extraterrestrial life would eventually be found, as Earthlings were "just getting in the game" of trying to locate life on other planets—but no one should hold their breath. "I think it's not going to be in my lifetime [that we find aliens], I think its going to be my students or my students students...it will take a couple of generations," Werthimer added. "It's hard to predict but my guess is that it's going to be a generation or two" before the discovery is made, he said. More From CNBC Top News and Analysis Latest News Video Personal Finance
[Social Media Buzz]
$622.24 #itBit;
$626.30 #bitfinex;
$621.64 #btce;
$623.83 #GDAX;
$621.00 #bitstamp;
#bitcoin news: http://bit.ly/1VI6Yse || $622.33 at 17:45 UTC [24h Range: $618.67 - $625.00 Volume: 1863 BTC] || $623.24 at 20:30 UTC [24h Range: $618.67 - $625.00 Volume: 1762 BTC] || $0.003554 (0.28%) 0.00000570 BTC (-0.00%) #WHIPPED #FETISH #BDSM || #UFOCoin #UFO $0.000012 (0.20%) 0.00000002 BTC (-0.00%) || 1 #BTC (#Bitcoin) quotes:
$620.51/$621.85 #Bitstamp
$622.58/$624.46 #BTCe
⇢$0.73/$3.95
$619.00/$625.49 ...
|
606.72, 608.24, 609.24, 610.68, 607.16, 606.97, 605.98, 609.87, 609.23, 608.31
|
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 49199.87, 52149.01, 51679.80, 55888.13, 56099.52, 57539.95, 54207.32, 48824.43, 49705.33, 47093.85, 46339.76, 46188.45, 45137.77, 49631.24, 48378.99, 50538.24, 48561.17, 48927.30, 48912.38, 51206.69, 52246.52, 54824.12, 56008.55, 57805.12, 57332.09, 61243.09, 59302.32, 55907.20, 56804.90, 58870.89, 57858.92, 58346.65, 58313.64, 57523.42, 54529.14, 54738.95, 52774.27, 51704.16, 55137.31, 55973.51, 55950.75, 57750.20, 58917.69, 58918.83, 59095.81, 59384.31, 57603.89, 58758.55, 59057.88, 58192.36, 56048.94, 58323.95, 58245.00, 59793.23, 60204.96, 59893.45, 63503.46, 63109.70, 63314.01, 61572.79, 60683.82, 56216.18, 55724.27, 56473.03, 53906.09, 51762.27, 51093.65, 50050.87, 49004.25, 54021.75, 55033.12, 54824.70, 53555.11, 57750.18, 57828.05, 56631.08, 57200.29, 53333.54, 57424.01, 56396.52, 57356.40, 58803.78, 58232.32, 55859.80, 56704.57, 49150.54, 49716.19, 49880.54, 46760.19, 46456.06.
|
[Bitcoin Technical Analysis for 2021-05-16]
Volume: 64047871555, RSI (14-day): 33.84, 50-day EMA: 54357.96, 200-day EMA: 42185.77
[Wider Market Context]
None available.
[Recent News (last 7 days)]
How Does Cryptocurrency Work – and Is It Safe?: gopixa / iStock.com If you’ve been following the news, you undoubtedly know a few things about Bitcoin right now . Find: Why Some Money Experts Believe In Bitcoin and Others Don’t One: It’s a cryptocurrency. Two: One Bitcoin is worth more than $40,000 in U.S. dollars, although the price fluctuates wildly day to day. Three: Electric vehicle manufacturer Tesla recently invested in Bitcoin and announced it would soon allow people to purchase its cars using the cryptocurrency. But, if you’re like many people, you’re still fuzzy on a few things, including exactly what cryptocurrency is, how it works and if it’s a safe way to invest your money. See: Dogecoin’s Major Price Increase: Is It a Worthwhile Investment? Find: Bitcoin Is Pricey and Headed for a Crash – Consider These Smart Crypto Alternatives History of Bitcoin Bitcoin was invented in 2009 as a form of digital currency. Unlike paper money or debit cards, which represent paper money the buyer holds in a bank, Bitcoin has no physical form. It’s all stored digitally, providing increased security over checks, paper money transactions and even other digital transactions, which, again, represent the exchange of paper money held in accounts. As of Monday morning, Bitcoin’s value sits at $47,794, up approximately 20% since last week, according to Reuters. For perspective, in 2010, a single Bitcoin was worth only 8 cents in USD, Investopedia writes. See: Long-Term Investors Hold Most of the Bitcoin Supply The Hype Around NFTs: What Are They? And How Pricey Do They Get? Other Cryptocurrencies Bitcoin was the first cryptocurrency, but today there are more than 6,700 cryptocurrencies traded on public markets, according to the website CoinMarketCap. Although Bitcoin and other cryptocurrencies are used for the exchange of goods and services on the private market, they are not considered legal tender like U.S. dollars and coins. Some of the most common cryptos right now include Ethereum, Bitcoin Cash and Litecoin, which you can purchase through Paypal. Other, less common cryptos are termed altcoins. The most popular altcoin is Dogecoin, popularized by billionaire Elon Musk’s tweets. He recently shared, “Bought some Dogecoin for lil X, so he can be a toddler hodler.” Story continues The tweet was accompanied by a video of Musk and singer Grimes’ infant son declaring, “Dadada!” Bought some Dogecoin for lil X, so he can be a toddler hodler — Elon Musk (@elonmusk) February 10, 2021 See: Musk Tweets Again and Dogecoin – a Bitcoin Rival – Skyrockets Options: All About Ethereum (ETH) — To Help You Decided If It’s Worth the Investment What Is Cryptocurrency and Cryptography? “Cryptocurrency is a fully decentralized peer-to-peer electronic money implemented by cryptography,” says Rob Zel, founder of crypto exchange bitni.com. Due to their nature, cryptocurrencies are not regulated, which carries risk of market volatility and loss for investors. However, the security risks and risk of fraud when using Bitcoin and other cryptocurrencies are vastly reduced. Also, due to the highly secure nature of transactions, purchases cannot be traced. That means individuals can use crypto to purchase illegal or highly regulated merchandise, including certain classes of drugs or firearms. Cryptocurrencies use cryptography technology to keep transactions and coins secure. “Cryptography, or cryptology, is the practice and study of techniques for secure communication in the presence of third parties called adversaries. The most common form of cryptography is using codes to send messages securely between two individuals,” says Dr. Alexander Shipilov, CEO of iModX, a blockchain-based marketplace. See: Crypto Bubble Brings a Curious Problem for Investors Find: What Are Digital Wallets? How Does a Blockchain Work? Cryptocurrencies are traded by means of a blockchain, which Shipilov describes as “a way for multiple computers to come to a consensus about a set of information.” He says, “The most common use of a blockchain is to create a ledger of financial transactions between multiple individuals.” Blockchains operate via cryptography, with each block in the chain cryptographically connected to the previous one. “The blockchain is stored and shared across a network of peer-to-peer nodes, similar to file-sharing torrents. The blocks are cryptographically secured against tampering. This makes it very difficult for nefarious parties to modify or shut down,” Zel says. See: How to Invest in Cryptocurrency Find: The Most Googled Money Questions – Answered Understand That a “Secure” Investment May Not Be a “Safe” Investment So, thanks to blockchain technology, Bitcoin and other crypto transactions may be inherently more secure than other types of digital transactions, such as online banking, money transfers through digital wallets or peer-to-peer payment services. But it’s important to emphasize that these services all use state-of-the-art encryption technology to protect your funds digitally. Also, most banks offer fraud protection so that if your account is hacked, the bank will return your missing funds up to a certain amount, which varies by institution. The technology used to keep crypto investments secure is also effective. In fact, it’s so secure that some people who invested in Bitcoin years ago have lost their password with no way to reset it. That wouldn’t happen with a regular bank account or peer-to-peer payment service, which offer ways to reset your online banking password so you can access your money. See: Steal These Money Secrets from 25 Millionaires Under 25 Find: How to Invest Your Money in 2021 Understand Why Crypto Is So Risky Although your crypto investment is likely “secure,” that doesn’t mean it’s “safe” by any means. There are two elements that make cryptocurrency riskier than holding cash in a bank account: market volatility and lack of federal insurance and regulation. When you hold your money in a bank account, it is FDIC-insured for up to $250,000 per depositor, per account class, per bank. That means if you have your own checking account with $100,000 in it, a savings account with $50,000 in it and a CD with a $100,000 investment, all within a single FDIC-insured bank, your funds are all protected by the Federal Deposit Insurance Corporation. If your bank goes out of business, you will not lose your money. On the other hand, if something happens to the company holding your crypto, you could lose your entire investment. See: Banks Might Treat Bitcoin Like ‘Real Money’ – These Experts Weigh the Pros and Cons Find: Mark Cuban – “Bitcoin is Exactly like the Dot Com Bubble” Crypto, like stocks and other investments, also tend to fluctuate wildly. When you hold cash in a bank, the value of your money will fluctuate marginally based on inflation or deflation. That represents the value of the dollar. But it’s highly unlikely you would lose — or gain — large amounts of money overnight. “Cryptocurrencies tend to be highly volatile,” Zel says. “In one day, a coin can move 20% or more. Some newly invented coins can jump 40x in their first few months.” There’s another concern for those seeking a safe haven for their money. “Occasionally, a newly invented coin will be a complete scam and the founders will take the money from investors and disappear, leaving them holding a worthless token,” Zel says. See: 9 Investing Bubbles That Will Make You Rethink Bitcoin Find: The Classic Cons Behind These Digital-Age Scams Can You Use Bitcoin to Buy Things? Right now, Bitcoin and other cryptocurrencies are considered both an asset, traded like stocks, and a currency, used in the exchange of goods and services. However, high transaction fees and the volatility of the coins prevent its widespread adoption as a currency, Zel says. You can use Bitcoin and other cryptos to make purchases, but it’s not always ideal. See: PayPal Finally Welcomes Bitcoin, More Cryptocurrencies Shipilov adds that the vast majority of cryptos right now are being treated as assets rather than currency. “They are being speculated on by investors who assume the asset will increase in value over a long-time horizon,” he says. However, although people have gained millions through their Bitcoin investments in the past year, crypto may not be the best choice for beginning investors or those with low risk tolerance. “Crypto are non-regulated assets with a high degree of volatility, limited government oversight, and the majority of cryptocurrency lose most or all their value extremely quickly, with over half failing in the first four months,” Shipilov warns. More From GOBankingRates Money’s Most Influential: Where Do Americans Get Their Financial Advice? Don’t Miss Out on Nominating Your Favorite Small Business To Be Featured on GOBankingRates — Ends May 31 ‘Rich Dad Poor Dad’ Author Robert Kiyosaki: You Should Never Say ‘I Can’t Afford That’ Everything You Need To Know About Taxes This Year Last updated: Feb. 15, 2021 This article originally appeared on GOBankingRates.com : How Does Cryptocurrency Work – and Is It Safe? || How Does Cryptocurrency Work – and Is It Safe?: If you’ve been following the news, you undoubtedly know afew things about Bitcoin right now.
Find:Why Some Money Experts Believe In Bitcoin and Others Don’t
One: It’s a cryptocurrency.
Two: One Bitcoin is worth more than $40,000 in U.S. dollars, although the price fluctuates wildly day to day.
Three: Electric vehicle manufacturer Tesla recently invested in Bitcoin and announced it would soon allow people to purchase its cars using the cryptocurrency.
But, if you’re like many people, you’re still fuzzy on a few things, including exactly what cryptocurrency is, how it works and if it’s a safe way to invest your money.
See:Dogecoin’s Major Price Increase: Is It a Worthwhile Investment?Find:Bitcoin Is Pricey and Headed for a Crash – Consider These Smart Crypto Alternatives
Bitcoin was invented in 2009 as a form of digital currency. Unlike paper money or debit cards, which represent paper money the buyer holds in a bank, Bitcoin has no physical form. It’s all stored digitally, providing increased security over checks, paper money transactions and even other digital transactions, which, again, represent the exchange of paper money held in accounts.
As of Monday morning, Bitcoin’s value sits at $47,794, up approximately 20% since last week, according to Reuters. For perspective, in 2010, a single Bitcoin was worth only 8 cents in USD, Investopedia writes.
See:Long-Term Investors Hold Most of the Bitcoin SupplyThe Hype Around NFTs:What Are They? And How Pricey Do They Get?
Bitcoin was the first cryptocurrency, but today there are more than 6,700 cryptocurrencies traded on public markets, according to the website CoinMarketCap. Although Bitcoin and other cryptocurrencies are used for the exchange of goods and services on the private market, they are not considered legal tender like U.S. dollars and coins.
Some of the most common cryptos right now include Ethereum, Bitcoin Cash and Litecoin, which you can purchase through Paypal. Other, less common cryptos are termed altcoins. The most popular altcoin is Dogecoin, popularized by billionaire Elon Musk’s tweets. He recently shared, “Bought some Dogecoin for lil X, so he can be a toddler hodler.”
The tweet was accompanied by a video of Musk and singer Grimes’ infant son declaring, “Dadada!”
See:Musk Tweets Again and Dogecoin – a Bitcoin Rival – SkyrocketsOptions:All About Ethereum (ETH) — To Help You Decided If It’s Worth the Investment
“Cryptocurrency is a fully decentralized peer-to-peer electronic money implemented by cryptography,” says Rob Zel, founder of crypto exchange bitni.com. Due to their nature, cryptocurrencies are not regulated, which carries risk of market volatility and loss for investors. However, the security risks and risk of fraud when using Bitcoin and other cryptocurrencies are vastly reduced.
Also, due to the highly secure nature of transactions, purchases cannot be traced. That means individuals can use crypto to purchase illegal or highly regulated merchandise, including certain classes of drugs or firearms.
Cryptocurrencies use cryptography technology to keep transactions and coins secure. “Cryptography, or cryptology, is the practice and study of techniques for secure communication in the presence of third parties called adversaries. The most common form of cryptography is using codes to send messages securely between two individuals,” says Dr. Alexander Shipilov, CEO of iModX, a blockchain-based marketplace.
See:Crypto Bubble Brings a Curious Problem for InvestorsFind:What Are Digital Wallets?
Cryptocurrencies are traded by means of a blockchain, which Shipilov describes as “a way for multiple computers to come to a consensus about a set of information.” He says, “The most common use of a blockchain is to create a ledger of financial transactions between multiple individuals.”
Blockchains operate via cryptography, with each block in the chain cryptographically connected to the previous one. “The blockchain is stored and shared across a network of peer-to-peer nodes, similar to file-sharing torrents. The blocks are cryptographically secured against tampering. This makes it very difficult for nefarious parties to modify or shut down,” Zel says.
See:How to Invest in CryptocurrencyFind:The Most Googled Money Questions – Answered
So, thanks to blockchain technology, Bitcoin and other crypto transactions may be inherently more secure than other types of digital transactions, such as online banking, money transfers through digital wallets or peer-to-peer payment services. But it’s important to emphasize that these services all use state-of-the-art encryption technology to protect your funds digitally. Also, most banks offer fraud protection so that if your account is hacked, the bank will return your missing funds up to a certain amount, which varies by institution.
The technology used to keep crypto investments secure is also effective. In fact, it’s so secure that some people who invested in Bitcoin years ago have lost their password with no way to reset it. That wouldn’t happen with a regular bank account or peer-to-peer payment service, which offer ways to reset your online banking password so you can access your money.
See:Steal These Money Secrets from 25 Millionaires Under 25Find:How to Invest Your Money in 2021
Although your crypto investment is likely “secure,” that doesn’t mean it’s “safe” by any means. There are two elements that make cryptocurrency riskier than holding cash in a bank account: market volatility and lack of federal insurance and regulation.
When you hold your money in a bank account, it is FDIC-insured for up to $250,000 per depositor, per account class, per bank. That means if you have your own checking account with $100,000 in it, a savings account with $50,000 in it and a CD with a $100,000 investment, all within a single FDIC-insured bank, your funds are all protected by the Federal Deposit Insurance Corporation. If your bank goes out of business, you will not lose your money.
On the other hand, if something happens to the company holding your crypto, you could lose your entire investment.
See:Banks Might Treat Bitcoin Like ‘Real Money’ – These Experts Weigh the Pros and ConsFind:Mark Cuban – “Bitcoin is Exactly like the Dot Com Bubble”
Crypto, like stocks and other investments, also tend to fluctuate wildly. When you hold cash in a bank, the value of your money will fluctuate marginally based on inflation or deflation. That represents the value of the dollar. But it’s highly unlikely you would lose — or gain — large amounts of money overnight.
“Cryptocurrencies tend to be highly volatile,” Zel says. “In one day, a coin can move 20% or more. Some newly invented coins can jump 40x in their first few months.”
There’s another concern for those seeking a safe haven for their money. “Occasionally, a newly invented coin will be a complete scam and the founders will take the money from investors and disappear, leaving them holding a worthless token,” Zel says.
See:9 Investing Bubbles That Will Make You Rethink BitcoinFind:The Classic Cons Behind These Digital-Age Scams
Right now, Bitcoin and other cryptocurrencies are considered both an asset, traded like stocks, and a currency, used in the exchange of goods and services. However, high transaction fees and the volatility of the coins prevent its widespread adoption as a currency, Zel says.
You can use Bitcoin and other cryptos to make purchases, but it’s not always ideal.
See:PayPal Finally Welcomes Bitcoin, More Cryptocurrencies
Shipilov adds that the vast majority of cryptos right now are being treated as assets rather than currency. “They are being speculated on by investors who assume the asset will increase in value over a long-time horizon,” he says.
However, although people have gained millions through their Bitcoin investments in the past year, crypto may not be the best choice for beginning investors or those with low risk tolerance.
“Crypto are non-regulated assets with a high degree of volatility, limited government oversight, and the majority of cryptocurrency lose most or all their value extremely quickly, with over half failing in the first four months,” Shipilov warns.
More From GOBankingRates
• Money’s Most Influential: Where Do Americans Get Their Financial Advice?
• Don’t Miss Out on Nominating Your Favorite Small Business To Be Featured on GOBankingRates — Ends May 31
• ‘Rich Dad Poor Dad’ Author Robert Kiyosaki: You Should Never Say ‘I Can’t Afford That’
• Everything You Need To Know About Taxes This Year
Last updated: Feb. 15, 2021
This article originally appeared onGOBankingRates.com:How Does Cryptocurrency Work – and Is It Safe? || Pipeline operator says "normal operations" have resumed: ATLANTA (AP) The operator of the nation's largest gasoline pipeline hit on May 7th by a ransomware attack announced Saturday that it has resumed normal operations," delivering fuel to its markets, including a large swath of the East Coast. Georgia-based Colonial Pipeline had begun the process of restarting the pipeline's operations on Wednesday evening, warning it could take several days for the supply chain to return to normal. Since that time, we have returned the system to normal operations, delivering millions of gallons per hour to the markets we serve, Colonial Pipeline said in a tweet Saturday. Those markets include Texas, Louisiana, Mississippi, Alabama, Tennessee, Georgia, South and North Carolina, Virginia, Maryland, Washington D.C., Delaware, Pennsylvania and New Jersey. All of these markets are now receiving product from our pipeline, the company said, noting how its employees across the pipeline worked safely and tirelessly around the clock to get our lines up and running. Gas shortages, which spread from the South, all but emptying stations in Washington, D.C., have been improving since a peak on Thursday night. Energy Secretary Jennifer Granholm told The Associated Press on Friday that the nation is over the hump on gas shortages, with about 200 stations returning to service every hour. Its still going to work its way through the system over the next few days, but we should be back to normal fairly soon," she said. Some stations were still out of gas in Raleigh, North Carolina, on Saturday. Driver Jermaine Barnes told CBS17 the shortage has made him more conservative with his trips. Im not going places I dont need to go, he said. Im not visiting people. Im watching where Im driving. Im doing everything different right now. Some drivers responded angrily on Facebook Saturday to a post by ABC-13 in Asheville, North Carolina, about the pipeline resuming normal operations. Several said the majority of gas stations still did not have fuel and those that did receive deliveries were quickly selling out. Story continues Martha Meade, manager for public and government relations at AAA Mid-Atlantic, said many gas stations in the Virginia area still did not have gas on Saturday. But she said lines have diminished from the height of the crisis and panic buying has subsided. Multiple sources confirmed to The Associated Press that Colonial Pipeline had paid the criminals who committed the cyberattack a ransom of nearly $5 million in cryptocurrency for the software decryption key required to unscramble their data network. The ransom 75 Bitcoin was paid last Saturday, a day after the criminals locked up Colonials corporate network, according to Tom Robinson, co-founder of the cryptocurrency-tracking firm Elliptic. Prior to Robinsons blog post, two people briefed on the case had confirmed the payment amount to AP. The pipeline system delivers about 45% of the gasoline consumed on the East Coast. __ This story corrects that the ransomware attack occurred on May 7 and not last week. || Pipeline operator says "normal operations" have resumed: ATLANTA (AP) The operator of the nation's largest gasoline pipeline hit on May 7th by a ransomware attack announced Saturday that it has resumed normal operations," delivering fuel to its markets, including a large swath of the East Coast. Georgia-based Colonial Pipeline had begun the process of restarting the pipeline's operations on Wednesday evening, warning it could take several days for the supply chain to return to normal. Since that time, we have returned the system to normal operations, delivering millions of gallons per hour to the markets we serve, Colonial Pipeline said in a tweet Saturday. Those markets include Texas, Louisiana, Mississippi, Alabama, Tennessee, Georgia, South and North Carolina, Virginia, Maryland, Washington D.C., Delaware, Pennsylvania and New Jersey. All of these markets are now receiving product from our pipeline, the company said, noting how its employees across the pipeline worked safely and tirelessly around the clock to get our lines up and running. Gas shortages, which spread from the South, all but emptying stations in Washington, D.C., have been improving since a peak on Thursday night. Energy Secretary Jennifer Granholm told The Associated Press on Friday that the nation is over the hump on gas shortages, with about 200 stations returning to service every hour. Its still going to work its way through the system over the next few days, but we should be back to normal fairly soon," she said. Some stations were still out of gas in Raleigh, North Carolina, on Saturday. Driver Jermaine Barnes told CBS17 the shortage has made him more conservative with his trips. Im not going places I dont need to go, he said. Im not visiting people. Im watching where Im driving. Im doing everything different right now. Some drivers responded angrily on Facebook Saturday to a post by ABC-13 in Asheville, North Carolina, about the pipeline resuming normal operations. Several said the majority of gas stations still did not have fuel and those that did receive deliveries were quickly selling out. Story continues Martha Meade, manager for public and government relations at AAA Mid-Atlantic, said many gas stations in the Virginia area still did not have gas on Saturday. But she said lines have diminished from the height of the crisis and panic buying has subsided. Multiple sources confirmed to The Associated Press that Colonial Pipeline had paid the criminals who committed the cyberattack a ransom of nearly $5 million in cryptocurrency for the software decryption key required to unscramble their data network. The ransom 75 Bitcoin was paid last Saturday, a day after the criminals locked up Colonials corporate network, according to Tom Robinson, co-founder of the cryptocurrency-tracking firm Elliptic. Prior to Robinsons blog post, two people briefed on the case had confirmed the payment amount to AP. The pipeline system delivers about 45% of the gasoline consumed on the East Coast. __ This story corrects that the ransomware attack occurred on May 7 and not last week. || Cardano And Polygon Skyrocket To New All-Time Highs As Investors Seek Elon Musk's Next Favorite Crypto: Proof-of-Stake (PoS) cryptocurrencies Cardano (CRYPTO: ADA) and Polygon (CRYPTO: MATIC) saw a major price growth following recent news that Tesla Inc. (NASDAQ: TSLA ) CEO Elon Musk is looking for an energy-efficient alternative to Bitcoin (CRYPTO: BTC). What Happened: Polygon saw its price increase by about 40% from a 24-hour low of $1.343 to a high of $1.88 before settling at $1.81, as of publication time. Cardano, on the other hand, rose by over 24.6% from a 24-hour low of $1.8944 to a high of $2.3607 and currently stands at $2.22. Learn more: How To Buy Altcoins Why It Matters : The news follows Musk recently tweeting that Tesla would stop accepting Bitcoin for its electric cars due to the concerns over the impact of the network's operations on the environment. He said he is looking at other digital currencies that use less than 1% of the energy that Bitcoin does. PoS cryptocurrencies such as the ones that just saw this growth — which actually brought them both to new all-time highs — pride themselves on not needing powerful and power-hungry supercomputers that "mine" them and secure their network. Instead, network security is ensured by low-power computers that lock (stake) digital assets that will be lost if the network operators misbehave — by, for instance, approving transactions that should not be approved. See also: How to Buy Cardano (ADA) See more from Benzinga Click here for options trades from Benzinga Here's How You Can Get Shiba Inu For Free 7 Surprising Bitcoin Metrics You Should Watch Amid Latest Fall © 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. View comments || Cardano And Polygon Skyrocket To New All-Time Highs As Investors Seek Elon Musk's Next Favorite Crypto: Proof-of-Stake (PoS) cryptocurrenciesCardano(CRYPTO: ADA) andPolygon(CRYPTO: MATIC) saw a major price growth following recent news thatTesla Inc.(NASDAQ:TSLA) CEO Elon Musk islooking for an energy-efficient alternativetoBitcoin(CRYPTO: BTC).
What Happened:Polygon saw its price increase by about 40% from a 24-hour low of $1.343 to a high of $1.88 before settling at $1.81, as of publication time. Cardano, on the other hand, rose by over 24.6% from a 24-hour low of $1.8944 to a high of $2.3607 and currently stands at $2.22.
Learn more:How To Buy Altcoins
Why It Matters: The news follows Musk recentlytweetingthat Tesla would stop accepting Bitcoin for its electric cars due to the concerns over the impact of the network's operations on the environment. He said he is looking at other digital currencies that use less than 1% of the energy that Bitcoin does.
PoS cryptocurrencies such as the ones that just saw this growth — which actually brought them both to new all-time highs — pride themselves on not needing powerful and power-hungry supercomputers that "mine" them and secure their network. Instead, network security is ensured by low-power computers that lock (stake) digital assets that will be lost if the network operators misbehave — by, for instance, approving transactions that should not be approved.
See also:How to Buy Cardano (ADA)
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© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Bitcoin, Ether Dive While Some Alternative Cryptocurrencies Hit Record Highs: Ether, the second-biggest cryptocurrency by market capitalization, is poised to log its first weekly loss since the end of March, as its price, along with that of larger sibling bitcoin, are in the red on Saturday.
At press time, ether was changing hands at $3,779.81, down 8.48% in the past 24 hours, according to CoinDesk 20. Meanwhilebitcoin,the No. 1 cryptocurrency by market capitalization, has also fallen, down 5.88% in the past 24 hours to below $48,000.
After a six-week-long winning streak, ether is set to end the week on a down note, according to data from TradingView and Kraken.
Related:Elon Musk: Less Grifter, More Puppet Master
As for bitcoin, the balance of that cryptocurrency held on major exchanges is increasing again after dropping for more than a year, according to data from Glassnode. Some analysts interpreted that as abearish signfor the market. as it could show more BTC is available to sell on exchanges.
Meanwhile, the winners of the day appear to be tokens of so-called Ethereum Killers and layer 2 scaling projects, as some of those tokens have logged new all-time highs on Saturday.
The price of scaling solution Polygon Network’s native token, MATIC, was up by more than 22% in the past 24 hours, according to data from Messari. Its price logged a record high on Saturday at around $1.87.
Year to date, MATIC has also chalked a 100-fold rise with its market capitalization soaring to more than $8.96 billion.
Related:Bitcoin Suffers Biggest Pullback This Year With Drop to 3.5-Month Low
Meanwhile, the prices of tokens for smart contract platforms such as Cardano (ADA) and Cosmos (ATOM) were also rising. At the time of writing, ADA was up 18.30% in the past 24 hours to $2.25, and ATOM was up 5.39% to about $26.47.
The network congestion on Ethereum blockchain has increased demand for Ethereum alternatives as well as for layer 2 scaling projects like Polygon, which has sent their tokens’ pricesskyrocketing.
• Bitcoin Holds Support; Faces Resistance at $50K
• Crypto Long & Short: Why Tesla’s Reversal Is Good for Bitcoin || Bitcoin, Ether Dive While Some Alternative Cryptocurrencies Hit Record Highs: Ether, the second-biggest cryptocurrency by market capitalization, is poised to log its first weekly loss since the end of March, as its price, along with that of larger sibling bitcoin, are in the red on Saturday.
At press time, ether was changing hands at $3,779.81, down 8.48% in the past 24 hours, according to CoinDesk 20. Meanwhilebitcoin,the No. 1 cryptocurrency by market capitalization, has also fallen, down 5.88% in the past 24 hours to below $48,000.
After a six-week-long winning streak, ether is set to end the week on a down note, according to data from TradingView and Kraken.
Related:Elon Musk: Less Grifter, More Puppet Master
As for bitcoin, the balance of that cryptocurrency held on major exchanges is increasing again after dropping for more than a year, according to data from Glassnode. Some analysts interpreted that as abearish signfor the market. as it could show more BTC is available to sell on exchanges.
Meanwhile, the winners of the day appear to be tokens of so-called Ethereum Killers and layer 2 scaling projects, as some of those tokens have logged new all-time highs on Saturday.
The price of scaling solution Polygon Network’s native token, MATIC, was up by more than 22% in the past 24 hours, according to data from Messari. Its price logged a record high on Saturday at around $1.87.
Year to date, MATIC has also chalked a 100-fold rise with its market capitalization soaring to more than $8.96 billion.
Related:Bitcoin Suffers Biggest Pullback This Year With Drop to 3.5-Month Low
Meanwhile, the prices of tokens for smart contract platforms such as Cardano (ADA) and Cosmos (ATOM) were also rising. At the time of writing, ADA was up 18.30% in the past 24 hours to $2.25, and ATOM was up 5.39% to about $26.47.
The network congestion on Ethereum blockchain has increased demand for Ethereum alternatives as well as for layer 2 scaling projects like Polygon, which has sent their tokens’ pricesskyrocketing.
• Bitcoin Holds Support; Faces Resistance at $50K
• Crypto Long & Short: Why Tesla’s Reversal Is Good for Bitcoin || Bitcoin, Ether Dive While Some Alternative Cryptocurrencies Hit Record Highs: Ether , the second-biggest cryptocurrency by market capitalization, is poised to log its first weekly loss since the end of March, as its price, along with that of larger sibling bitcoin, are in the red on Saturday. At press time, ether was changing hands at $3,779.81, down 8.48% in the past 24 hours, according to CoinDesk 20. Meanwhile bitcoin, the No. 1 cryptocurrency by market capitalization, has also fallen, down 5.88% in the past 24 hours to below $48,000. After a six-week-long winning streak, ether is set to end the week on a down note, according to data from TradingView and Kraken. Related: Elon Musk: Less Grifter, More Puppet Master As for bitcoin, the balance of that cryptocurrency held on major exchanges is increasing again after dropping for more than a year, according to data from Glassnode. Some analysts interpreted that as a bearish sign for the market. as it could show more BTC is available to sell on exchanges. Meanwhile, the winners of the day appear to be tokens of so-called Ethereum Killers and layer 2 scaling projects, as some of those tokens have logged new all-time highs on Saturday. The price of scaling solution Polygon Networks native token, MATIC, was up by more than 22% in the past 24 hours, according to data from Messari. Its price logged a record high on Saturday at around $1.87. Year to date, MATIC has also chalked a 100-fold rise with its market capitalization soaring to more than $8.96 billion. Related: Bitcoin Suffers Biggest Pullback This Year With Drop to 3.5-Month Low Meanwhile, the prices of tokens for smart contract platforms such as Cardano (ADA) and Cosmos (ATOM) were also rising. At the time of writing, ADA was up 18.30% in the past 24 hours to $2.25, and ATOM was up 5.39% to about $26.47. The network congestion on Ethereum blockchain has increased demand for Ethereum alternatives as well as for layer 2 scaling projects like Polygon, which has sent their tokens prices skyrocketing . Related Stories Bitcoin Holds Support; Faces Resistance at $50K Crypto Long & Short: Why Teslas Reversal Is Good for Bitcoin View comments || Scott Melker Talks Trading Strategy and Price Targets: Popular cryptocurrency personality Scott Melker has spoken about his trading strategy, price targets, and five crypto projects he currently holds. Known on Twitter as The Wolf of All Streets, Scott Melker has grown into a crypto brand. The ex-DJ and now full time crypto investor and trader was recently interviewed by Business Insider. Melker has grown his crypto following on social media to 400,000 strong. Melker spoke out about his journey, calling himself an investor first, Anyone who asks me, I say Im an investor who trades. Melker outlined his investing strategy, reiterating that people should have at least 60% to 70% of their assets in long term investments and 15% in cash and 15% for trading. The crypto aficionado admits he was not always this bullish on crypto, insisting people should never hold more than 10% of their net worth in crypto until as recently as late 2019. Portfolio strategy Melker focuses on key long term investments within the market. Primarily BTC and ETH . He then utilizes gains from other crypto projects as long term investing plays, with little risk after cashing out profits. He then uses 15% of his portfolio to actively trade the markets. While holding 15% in crypto stable coins that yield interest. The interest bearing accounts on stable coins is something Melker utilizes, calling the passive income approach absolutely incredible. To me, its actually the largest innovation probably in the crypto space in the last year to two years he stated. Melker is a keen believer in holding crypto for the long term. Early buyers of promising projects will reap the rewards, he said. He explains that anyone buying crypto over the last three years that held, are now seeing the fruits of those labors and you dont need to do much trading. Price targets Melker also mentioned price targets for BTC and ETH. He believes ETH and BTC should be two core assets that investors should hold. Furthermore, he predicts ETH could reach $10,000, while BTC could hit $235,000. Story continues I think ethers going easily to $10,000 in this cycle, and I think ether could go much higher to be quite honest, Melker said. And I think that bitcoin will go to $200,000, $230,000, $235,000. Promising projects Melker also spoke about five crypto projects he currently holds in his portfolio. While most of them have already yielded great returns for the investor, he currently still holds LINK, DOT, EGLD, UTK, and POLS. All of which have seen triple percentage gains for Melker. || Scott Melker Talks Trading Strategy and Price Targets: Popular cryptocurrency personality Scott Melker has spoken about his trading strategy, price targets, and five crypto projects he currently holds.
Known on Twitter as ‘The Wolf of All Streets’,Scott Melkerhas grown into a crypto brand. The ex-DJ and now full time crypto investor and trader was recentlyinterviewedby Business Insider.
Melker has grown his crypto following on social media to 400,000 strong. Melker spoke out about his journey, calling himself an investor first, “Anyone who asks me, I say I’m an investor who trades.”
Melker outlined his investing strategy, reiterating that “people should have at least 60% to 70% of their assets in long term investments and 15% in cash and 15% for trading.”
The crypto aficionado admits he was not always this bullish on crypto, insisting people should never hold more than 10% of their net worth in crypto until as recently as late 2019.
Melker focuses on key long term investments within the market. Primarily BTC andETH. He then utilizes gains from other crypto projects as long term investing plays, with little risk after cashing out profits.
He then uses 15% of his portfolio to actively trade the markets. While holding 15% in crypto stable coins that yield interest. The interest bearing accounts on stable coins is something Melker utilizes, calling the passive income approach “absolutely incredible. To me, it’s actually the largest innovation probably in the crypto space in the last year to two years” he stated.
Melker is a keen believer in holding crypto for the long term. Early buyers of promising projects will reap the rewards, he said. He explains that anyone buying crypto over the last three years that held, are now “seeing the fruits of those labors and you don’t need to do much trading.”
Melker also mentioned price targets forBTCand ETH. He believes ETH and BTC should be two core assets that investors should hold. Furthermore, he predicts ETH could reach $10,000, while BTC could hit $235,000.
“I think ether’s going easily to $10,000 in this cycle, and I think ether could go much higher to be quite honest,” Melker said. “And I think that bitcoin will go to $200,000, $230,000, $235,000.”
Melker also spoke about five crypto projects he currently holds in his portfolio. While most of them have already yielded great returns for the investor, he currently still holds LINK, DOT, EGLD, UTK, and POLS. All of which have seen triple percentage gains for Melker. || No Country Has Ever Taxed Itself into Prosperity: This article was originally published onETFTrends.com.
Violent protests have erupted in the streets of Bogota, Cali and other cities in Colombia. The immediate cause? Proposed reforms to the South American country’s tax system, which would have lifted taxes on everything from salaries and dividends to fossil fuels, single-use plastic items and more.
According to reports, the protests have involved citizens of all walks of life, including truckers, taxi drivers and health care workers. Overworked doctors, nurses and paramedics have walked off the job to bring attention to salary delays.
In response to the unrest, Colombian President Ivan Duque announced on Sunday that he was withdrawing the tax reform proposal. The country’s finance minister resigned the following day.
But the protests continue, just as they did inHong Kong in 2019 and 2020after a controversial extradition bill was canceled. At least 24 Colombians are believed to have lost their lives so far during clashes with police.
It’s against this incendiary backdrop that U.S. lawmakers are having their own tax reform debate.
President Joe Biden seeks to make a number of adjustments to the tax code, including raising the top income rate to 39.6%. The tax on capital gains, currently at 20%, would be doubled. And corporate taxes, which were lowered to 21% in the Tax Cuts and Jobs Act of 2017, would increase to between 25% and 28%.
click to enlarge
Before 2017, the top U.S. rate on corporate income was 35%, making it one of the highest rates in the world—higher, even, than Mexico, France and Brazil. I and most other executives celebrated the change because it made the U.S. far more competitive as a place to do business in. As I’ve said many times before, money flows where it’s respected most. Around the time of the tax bill’s signing, private business investment in the U.S. came rushing back, before stalling in late 2019 as the global economy slowed and articles of impeachment against President Donald Trump looked more and more likely.
Now, as domestic investment is finally starting to trickle back following the worst of the pandemic, the U.S. risks scaring money away again by raising corporate taxes.
click to enlarge
To make matters worse, Treasury Secretary Janet Yellen said last week that she and a number of other finance ministers are actively negotiating a global minimum tax on corporate income. If implemented, the decision would stand as yet another example of unelected bureaucrats imposing anti-capital, anti-competition policies on the rest of us. Obviously I don’t condone the violence we’re seeing in Colombia right now, but I view it as a cautionary tale of what could happen when people are faced with the real possibility of having even more of their hard-earned money withheld from them.
One of my all-time favorite quotes comes from Winston Churchill, who was just as witty as he was a great leader: “We contend that for a nation to try to tax itself into prosperity is like a man standing in a bucket and trying to lift himself up by the handle.”
On the contrary, countries have found prosperity byeliminatingtaxes. Take China. In 1978, Deng Xiaoping created special economic zones (SEZs) along the coastline, in cities such as Shenzhen, which invited millions of dollars in foreign investment to pour in. It’s hard to imagine China becoming the second largest economy had this decision not been made.
It may be no coincidence that the value of the U.S. dollar decreased more than a full percent last week against a basket of international currencies. This comes as hedge funds and other speculative investors have increased their net short positions against the greenback in recent weeks. What’s more, the International Monetary Fund (IMF) reported that the share of U.S. dollar reserves held by global central banksfell to 59% in the fourth quarter of 2020,a 25-year low that’s down from 71% since the euro made its debut in 1999.
What does this mean for assets that are priced in U.S. dollars such as gold? As you might have expected, the yellow metal jumped back above $1,800 an ounce for the first time since late February. Gold rose more than 3.5% for the week, beating its digital counterpart Bitcoin, which remained mostly flat.
The U.S. Dollar Index is currently at 90.2. I believe if it traded below 90, it could trigger some technical gold buying as inflation concerns mount.
That’s precisely the reason why legendary investor Sam Zell finds gold attractive right now. The Equity Group Investments founder told Bloomberg Television last week thathe was seeing inflation “all over the place.”
“You read about lumber prices, but we’re seeing it in all of our businesses,” Zell said. “The obvious bottlenecks in the supply chain arena are pushing up prices. It’s very reminiscent of the ‘70s.”
Indeed, one of the most obvious signs of inflation is rapidly expanding commodity prices, which rose to their highest since 2011 last week. For the 12-month period, the Bloomberg Commodity Index has returned close to 70%, one of the best runs for raw materials in recent memory. Meanwhile, copper, a bellwether of economic growth, touched a new record high of over $10,400 a metric ton.
click to enlarge
I don’t see asset prices pulling back in the short term, given the ongoing risk of inflation and debasement of the U.S. dollar. Copper could very well be headed for $13,000 or more, so stay long.
Originallypublishedby Frank Holmes, 5/10/21
All opinions expressed and data provided are subject to change without notice. Some of these opinions may not be appropriate to every investor. By clicking the link(s) above, you will be directed to a third-party website(s). U.S. Global Investors does not endorse all information supplied by this/these website(s) and is not responsible for its/their content. Beta is a measure of the volatility, or systematic risk, of a security or portfolio in comparison to the market as a whole.
The U.S. Dollar Index is an index of the value of the United States dollar relative to a basket of foreign currencies, often referred to as a basket of U.S. trade partners' currencies. The Bloomberg Commodity Index is a broadly diversified commodity price index distributed by Bloomberg Indexes.
POPULAR ARTICLES AND RESOURCES FROM ETFTRENDS.COM
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READ MORE AT ETFTRENDS.COM > || No Country Has Ever Taxed Itself into Prosperity: This article was originally published on ETFTrends.com. Violent protests have erupted in the streets of Bogota, Cali and other cities in Colombia. The immediate cause? Proposed reforms to the South American country’s tax system, which would have lifted taxes on everything from salaries and dividends to fossil fuels, single-use plastic items and more. According to reports, the protests have involved citizens of all walks of life, including truckers, taxi drivers and health care workers. Overworked doctors, nurses and paramedics have walked off the job to bring attention to salary delays. In response to the unrest, Colombian President Ivan Duque announced on Sunday that he was withdrawing the tax reform proposal. The country’s finance minister resigned the following day. But the protests continue, just as they did in Hong Kong in 2019 and 2020 after a controversial extradition bill was canceled. At least 24 Colombians are believed to have lost their lives so far during clashes with police. Money Flows Where It’s Respected Most It’s against this incendiary backdrop that U.S. lawmakers are having their own tax reform debate. President Joe Biden seeks to make a number of adjustments to the tax code, including raising the top income rate to 39.6%. The tax on capital gains, currently at 20%, would be doubled. And corporate taxes, which were lowered to 21% in the Tax Cuts and Jobs Act of 2017, would increase to between 25% and 28%. home prices rose at fastest pace since 2006 in february click to enlarge Before 2017, the top U.S. rate on corporate income was 35%, making it one of the highest rates in the world—higher, even, than Mexico, France and Brazil. I and most other executives celebrated the change because it made the U.S. far more competitive as a place to do business in. As I’ve said many times before, money flows where it’s respected most. Around the time of the tax bill’s signing, private business investment in the U.S. came rushing back, before stalling in late 2019 as the global economy slowed and articles of impeachment against President Donald Trump looked more and more likely. Story continues Now, as domestic investment is finally starting to trickle back following the worst of the pandemic, the U.S. risks scaring money away again by raising corporate taxes. Commodities highest jump since 2011 click to enlarge To make matters worse, Treasury Secretary Janet Yellen said last week that she and a number of other finance ministers are actively negotiating a global minimum tax on corporate income. If implemented, the decision would stand as yet another example of unelected bureaucrats imposing anti-capital, anti-competition policies on the rest of us. Obviously I don’t condone the violence we’re seeing in Colombia right now, but I view it as a cautionary tale of what could happen when people are faced with the real possibility of having even more of their hard-earned money withheld from them. One of my all-time favorite quotes comes from Winston Churchill, who was just as witty as he was a great leader: “We contend that for a nation to try to tax itself into prosperity is like a man standing in a bucket and trying to lift himself up by the handle.” On the contrary, countries have found prosperity by eliminating taxes. Take China. In 1978, Deng Xiaoping created special economic zones (SEZs) along the coastline, in cities such as Shenzhen, which invited millions of dollars in foreign investment to pour in. It’s hard to imagine China becoming the second largest economy had this decision not been made. Net Short Bets on the Dollar Increase. Time to Scoop Up Gold? It may be no coincidence that the value of the U.S. dollar decreased more than a full percent last week against a basket of international currencies. This comes as hedge funds and other speculative investors have increased their net short positions against the greenback in recent weeks. What’s more, the International Monetary Fund (IMF) reported that the share of U.S. dollar reserves held by global central banks fell to 59% in the fourth quarter of 2020, a 25-year low that’s down from 71% since the euro made its debut in 1999. What does this mean for assets that are priced in U.S. dollars such as gold? As you might have expected, the yellow metal jumped back above $1,800 an ounce for the first time since late February. Gold rose more than 3.5% for the week, beating its digital counterpart Bitcoin, which remained mostly flat. The U.S. Dollar Index is currently at 90.2. I believe if it traded below 90, it could trigger some technical gold buying as inflation concerns mount. That’s precisely the reason why legendary investor Sam Zell finds gold attractive right now. The Equity Group Investments founder told Bloomberg Television last week that he was seeing inflation “all over the place.” “You read about lumber prices, but we’re seeing it in all of our businesses,” Zell said. “The obvious bottlenecks in the supply chain arena are pushing up prices. It’s very reminiscent of the ‘70s.” Commodities at Six-Year High, Copper at All-Time High Indeed, one of the most obvious signs of inflation is rapidly expanding commodity prices, which rose to their highest since 2011 last week. For the 12-month period, the Bloomberg Commodity Index has returned close to 70%, one of the best runs for raw materials in recent memory. Meanwhile, copper, a bellwether of economic growth, touched a new record high of over $10,400 a metric ton. Commodities highest jump since 2011 click to enlarge I don’t see asset prices pulling back in the short term, given the ongoing risk of inflation and debasement of the U.S. dollar. Copper could very well be headed for $13,000 or more, so stay long. Originally published by Frank Holmes, 5/10/21 All opinions expressed and data provided are subject to change without notice. Some of these opinions may not be appropriate to every investor. By clicking the link(s) above, you will be directed to a third-party website(s). U.S. Global Investors does not endorse all information supplied by this/these website(s) and is not responsible for its/their content. Beta is a measure of the volatility, or systematic risk, of a security or portfolio in comparison to the market as a whole. The U.S. Dollar Index is an index of the value of the United States dollar relative to a basket of foreign currencies, often referred to as a basket of U.S. trade partners' currencies. The Bloomberg Commodity Index is a broadly diversified commodity price index distributed by Bloomberg Indexes. POPULAR ARTICLES AND RESOURCES FROM ETFTRENDS.COM SPY ETF Quote VOO ETF Quote QQQ ETF Quote VTI ETF Quote JNUG ETF Quote Top 34 Gold ETFs Top 34 Oil ETFs Top 57 Financials ETFs Crude ETFs Climb Back Amid Colonial Pipeline Resumption No Country Has Ever Taxed Itself into Prosperity Stock Index ETFs Accelerate Gains to Close Out Volatile Week Coinbase Q1 Earnings Hit Highs, but Still Miss Mark Can Crude Oil ETFs Continue To Climb? READ MORE AT ETFTRENDS.COM > || Earn Passive Income With Nhash Cloud Mining...: Start cloud mining Bitcoin from as low as $70 a day with the most profitable Bitcoin cloud mining service, NHash.
London, UK, May 15, 2021 (GLOBE NEWSWIRE) -- A few weeks ago, the hash rate of Bitcoin dropped about 20% leaving many analysts skeptical of the long-term sustainability of the largest cryptocurrency. Despite the drop, the enthusiasm around the mining of Bitcoin remains as strong as ever with a rising mining difficulty and more miners coming into the fray.
Photo Available Here
Despite growing into the strongest computational network, Bitcoin has slowly turned into an activity only suitable for the rich. Bitcoin mining requires technical knowledge, expensive equipment, and high electricity costs, which makes it difficult for the common man to make a profit from mining the crypto.
This has forced miners to look for alternative cryptocurrencies to mine and formulate new ways of mining.
At the top of the solutions is Bitcoin cloud mining. In the next sections, we elaborate on how you can start mining Bitcoin for as little as $70 usingNHash, one of the most profitable crypto cloud mining services.
“Cloud Mining is the process of cryptocurrency mining utilizing a remote datacenter with shared processing power.”
NHash, a Bitcoin cloud mining service, aims to give everybody a chance to start mining Bitcoin without the need for expensive equipment or high technical knowledge. The Bitcoin mining rigs are housed and maintained in a facility owned by a mining company and you as the customer only need to register and purchase mining products to receive mining rewards in your account.
“NHash's team has always put the task of making mining accessible not only for crypto-enthusiasts but also for common users,” theNHashwebsite reads.
The cloud mining service allows users to purchase multiple proof-of-work crypto mining contracts. The platforms allow cloud mining of SHA-256, Scrypt, and ETHASH coins including Bitcoin, Litecoin, Ethereum, and Bitcoin Cash among other cryptocurrencies. The service pays out daily rewards to miners and direct withdrawals to your external crypto wallet. NHash’s goals revolve around making crypto mining easy, smart, rewarding, and affordable for all.
To see this goal through, the NHash team is comprised of highly skilled engineers, developers, and mining specialists that ensure mining run smoothly and investors are offered the best rates and rewards possible via their cloud mining service.The cheapest-most profitable cloud mining serviceNHash offers users some of the best cloud mining rates in the crypto scene to ensure anyone with some capital can start earning rewards from the service. The cloud mining service currently offers five BTC mining price plans – curated from as low as $70 for a 1-day mining contract. The 1-day BTC mining contract ears users a 3% daily reward with no extra maintenance fees charged.Other contracts include the 7-day mining contract that users can purchase for as low as $200 giving users a fixed income reward of up to 6%, and the 14-day mining contract costs $600 with an expected return of 10% during the period.
Photo: NHash offers multiple mining contracts for clients(Image: NHash)
NHash also offers “mega contracts” to users including the 30-day mining contract that costs $2,000 and gives the miner an expected return of 25% during the period and the 45-day mining contract, a $5,000 contract offering miners a 40% return during the period.Finally,Nhashlaunched a new campaign that rewards all users with a sign-up bonus of $5, also has a referral program that rewards you for inviting friends to the platforms. At the starter tier, miners get 2% of the quantity of hash power purchased (money invested into NHash) by your referral. This can be a great way to start earning passively! To learn more about NHash and purchase cloud mining plans, visit its website atNhash.io
CONTACT: Ross Davis team@globalcryptopress.com https://www.nhash.io || Earn Passive Income With Nhash Cloud Mining...: Start cloud mining Bitcoin from as low as $70 a day with the most profitable Bitcoin cloud mining service, NHash. London, UK, May 15, 2021 (GLOBE NEWSWIRE) -- A few weeks ago, the hash rate of Bitcoin dropped about 20% leaving many analysts skeptical of the long-term sustainability of the largest cryptocurrency. Despite the drop, the enthusiasm around the mining of Bitcoin remains as strong as ever with a rising mining difficulty and more miners coming into the fray. Photo Available Here Despite growing into the strongest computational network, Bitcoin has slowly turned into an activity only suitable for the rich. Bitcoin mining requires technical knowledge, expensive equipment, and high electricity costs, which makes it difficult for the common man to make a profit from mining the crypto. This has forced miners to look for alternative cryptocurrencies to mine and formulate new ways of mining. At the top of the solutions is Bitcoin cloud mining. In the next sections, we elaborate on how you can start mining Bitcoin for as little as $70 using NHash , one of the most profitable crypto cloud mining services. Cloud Mining is the process of cryptocurrency mining utilizing a remote datacenter with shared processing power. NHash , a Bitcoin cloud mining service, aims to give everybody a chance to start mining Bitcoin without the need for expensive equipment or high technical knowledge. The Bitcoin mining rigs are housed and maintained in a facility owned by a mining company and you as the customer only need to register and purchase mining products to receive mining rewards in your account. NHash's team has always put the task of making mining accessible not only for crypto-enthusiasts but also for common users, the NHash website reads. The cloud mining service allows users to purchase multiple proof-of-work crypto mining contracts. The platforms allow cloud mining of SHA-256, Scrypt, and ETHASH coins including Bitcoin, Litecoin, Ethereum, and Bitcoin Cash among other cryptocurrencies. The service pays out daily rewards to miners and direct withdrawals to your external crypto wallet. NHashs goals revolve around making crypto mining easy, smart, rewarding, and affordable for all. Story continues To see this goal through, the NHash team is comprised of highly skilled engineers, developers, and mining specialists that ensure mining run smoothly and investors are offered the best rates and rewards possible via their cloud mining service. The cheapest-most profitable cloud mining service NHash offers users some of the best cloud mining rates in the crypto scene to ensure anyone with some capital can start earning rewards from the service. The cloud mining service currently offers five BTC mining price plans curated from as low as $70 for a 1-day mining contract. The 1-day BTC mining contract ears users a 3% daily reward with no extra maintenance fees charged. Other contracts include the 7-day mining contract that users can purchase for as low as $200 giving users a fixed income reward of up to 6%, and the 14-day mining contract costs $600 with an expected return of 10% during the period. Photo: NHash offers multiple mining contracts for clients (Image: NHash) NHash also offers mega contracts to users including the 30-day mining contract that costs $2,000 and gives the miner an expected return of 25% during the period and the 45-day mining contract, a $5,000 contract offering miners a 40% return during the period. Finally, Nhash launched a new campaign that rewards all users with a sign-up bonus of $5, also has a referral program that rewards you for inviting friends to the platforms. At the starter tier, miners get 2% of the quantity of hash power purchased (money invested into NHash) by your referral. This can be a great way to start earning passively! To learn more about NHash and purchase cloud mining plans, visit its website at Nhash.io CONTACT: Ross Davis team@globalcryptopress.com https://www.nhash.io || Tim Draper Stands Up for Bitcoin Amid Elon Musk U-Turn: Tim Draper has issued a belated response to Elon Musk’sdecision to withdrawBitcoin (BTC) as a payment option at Tesla.
The global investor and billionaire, who has founded a number of enterprises including venture capital firm Draper Fisher Jurvetson (DFJ), riposted Elon Musk’s environmental standpoint on BTC, by referring to the energy and carbon dioxide implications of the current banking system.
Taking to Twitter,he suggestedthat Musk should not accept fiat currencies for cars instead.
Elon Musk announced on May 12 that his company Tesla had suspended vehicle purchases in BTC. Ina statementthat he tweeted, he made it clear that while cryptocurrency is “a good idea on so many levels,” and that the future is promising, the future “cannot come at great cost to the environment.”
He referred to the fossil fuel emissions involved in Bitcoin mining. The tweet, which was the first in a thread, also emphasized that Tesla intends to retain its BTC and will use it in transactions in future, once mining is a more sustainable energy source.
The tech mogul clarified a day later,to reiteratehow much he believes in crypto. However, his stance has been attributed to the recent decline in BTC’s price.According to data, BTC has been on a steady slope since May 14, falling below the $50,000 threshold. It has struggled to surpass that threshold again since the morning of May 15.
This, in turn, is yet another example of Elon Musk’s influence, or the so-called “Musk Effect”. Over the last few weeks, the Tesla and SpaceX CEO has become notorious for affecting cryptocurrency prices with his social media activity. Most notably, the performance of Dogecoin (DOGE). His tweets have previously impacted the surge in price of DOGE, which has climbed near 20,000% this year.
After a string ofall-time highs, DOGE finally had something of a fall from grace. Musk’s appearance as host of Saturday Night Live on May 8 triggered a sell-off that causedthe price to crashfrom $0.66 to $0.50 in the space of 45 minutes. It continued to decline throughout the day, but has since regained some of its position. At time of writing,data indicatedthat DOGE remains firmly above the $0.50 threshold.
Draper is the latest high-profile figure to voice support for the world’s largest cryptocurrency. While BTC’s performance is hardlyat its bestat the moment, it is regarded as “the apex predator” of digital currencies by financier and investment advisor Anthony Scaramucci. The SkyBridge Capital founder said he advises his clientsto own 1-3% in BTCto avoid missing out.
Meanwhile financial services company Square also took a stance on BTC in light of Musk’s decision. They indicated their stance was more in line with Tesla; that they will not buy any more BTC until the fossil fuel emission issue is addressed. That said, Square execs remain supporters of BTC. Co-founder Jack Dorsey stated on Twitter that Square “will forever work to make bitcoin better”. || Tim Draper Stands Up for Bitcoin Amid Elon Musk U-Turn: Tim Draper has issued a belated response to Elon Musk’sdecision to withdrawBitcoin (BTC) as a payment option at Tesla.
The global investor and billionaire, who has founded a number of enterprises including venture capital firm Draper Fisher Jurvetson (DFJ), riposted Elon Musk’s environmental standpoint on BTC, by referring to the energy and carbon dioxide implications of the current banking system.
Taking to Twitter,he suggestedthat Musk should not accept fiat currencies for cars instead.
Elon Musk announced on May 12 that his company Tesla had suspended vehicle purchases in BTC. Ina statementthat he tweeted, he made it clear that while cryptocurrency is “a good idea on so many levels,” and that the future is promising, the future “cannot come at great cost to the environment.”
He referred to the fossil fuel emissions involved in Bitcoin mining. The tweet, which was the first in a thread, also emphasized that Tesla intends to retain its BTC and will use it in transactions in future, once mining is a more sustainable energy source.
The tech mogul clarified a day later,to reiteratehow much he believes in crypto. However, his stance has been attributed to the recent decline in BTC’s price.According to data, BTC has been on a steady slope since May 14, falling below the $50,000 threshold. It has struggled to surpass that threshold again since the morning of May 15.
This, in turn, is yet another example of Elon Musk’s influence, or the so-called “Musk Effect”. Over the last few weeks, the Tesla and SpaceX CEO has become notorious for affecting cryptocurrency prices with his social media activity. Most notably, the performance of Dogecoin (DOGE). His tweets have previously impacted the surge in price of DOGE, which has climbed near 20,000% this year.
After a string ofall-time highs, DOGE finally had something of a fall from grace. Musk’s appearance as host of Saturday Night Live on May 8 triggered a sell-off that causedthe price to crashfrom $0.66 to $0.50 in the space of 45 minutes. It continued to decline throughout the day, but has since regained some of its position. At time of writing,data indicatedthat DOGE remains firmly above the $0.50 threshold.
Draper is the latest high-profile figure to voice support for the world’s largest cryptocurrency. While BTC’s performance is hardlyat its bestat the moment, it is regarded as “the apex predator” of digital currencies by financier and investment advisor Anthony Scaramucci. The SkyBridge Capital founder said he advises his clientsto own 1-3% in BTCto avoid missing out.
Meanwhile financial services company Square also took a stance on BTC in light of Musk’s decision. They indicated their stance was more in line with Tesla; that they will not buy any more BTC until the fossil fuel emission issue is addressed. That said, Square execs remain supporters of BTC. Co-founder Jack Dorsey stated on Twitter that Square “will forever work to make bitcoin better”. || Tim Draper Stands Up for Bitcoin Amid Elon Musk U-Turn: Tim Draper has issued a belated response to Elon Musk’s decision to withdraw Bitcoin (BTC) as a payment option at Tesla. The global investor and billionaire, who has founded a number of enterprises including venture capital firm Draper Fisher Jurvetson (DFJ), riposted Elon Musk’s environmental standpoint on BTC, by referring to the energy and carbon dioxide implications of the current banking system. Taking to Twitter, he suggested that Musk should not accept fiat currencies for cars instead. Elon Musk announced on May 12 that his company Tesla had suspended vehicle purchases in BTC. In a statement that he tweeted, he made it clear that while cryptocurrency is “a good idea on so many levels,” and that the future is promising, the future “cannot come at great cost to the environment.” He referred to the fossil fuel emissions involved in Bitcoin mining. The tweet, which was the first in a thread, also emphasized that Tesla intends to retain its BTC and will use it in transactions in future, once mining is a more sustainable energy source. The tech mogul clarified a day later, to reiterate how much he believes in crypto. However, his stance has been attributed to the recent decline in BTC’s price. According to data , BTC has been on a steady slope since May 14, falling below the $50,000 threshold. It has struggled to surpass that threshold again since the morning of May 15. The Elon Musk effect on crypto This, in turn, is yet another example of Elon Musk’s influence, or the so-called “Musk Effect”. Over the last few weeks, the Tesla and SpaceX CEO has become notorious for affecting cryptocurrency prices with his social media activity. Most notably, the performance of Dogecoin (DOGE). His tweets have previously impacted the surge in price of DOGE, which has climbed near 20,000% this year. After a string of all-time h i ghs , DOGE finally had something of a fall from grace. Musk’s appearance as host of Saturday Night Live on May 8 triggered a sell-off that caused the price to crash from $0.66 to $0.50 in the space of 45 minutes. It continued to decline throughout the day, but has since regained some of its position. At time of writing, data indicated that DOGE remains firmly above the $0.50 threshold. Story continues BTC advocates voice their support Draper is the latest high-profile figure to voice support for the world’s largest cryptocurrency. While BTC’s performance is hardly at its best at the moment, it is regarded as “the apex predator” of digital currencies by financier and investment advisor Anthony Scaramucci. The SkyBridge Capital founder said he advises his clients to own 1-3% in BTC to avoid missing out. Meanwhile financial services company Square also took a stance on BTC in light of Musk’s decision. They indicated their stance was more in line with Tesla; that they will not buy any more BTC until the fossil fuel emission issue is addressed. That said, Square execs remain supporters of BTC. Co-founder Jack Dorsey stated on Twitter that Square “will forever work to make bitcoin better”. || Preakness Preview: How to Watch It, How To Bet On It And More: Medina Spirit, fresh off a controversial win at the Kentucky derby, will try and win the second leg of the Triple Crown Saturday afternoon. The Preakness will take place late Saturday afternoon at its home of the Pimlico Racetrack in Baltimore, Maryland.
How To Watch
Fans can tune in to coverage atComcast Corporation's(NASDAQ:CMCSA) NBC channel for the race starting at 5 p.m. EST. Post time for the race is set for 6:47 p.m. EST.
NBC Sports Network will have coverage of the races before the Preakness as well.
How To Bet On The Race
Gambling on horse racing operates under a different set of laws and regulations. Check with your state's rules. Michigan is one state where gambling on horse racing is legal.
The TVG appand website is an easy place to bet on the race.
Odds Preview
There are 10 horses participating in the Preakness. Here were each horse’s odds as of Friday evening:
• Ram (30-1)
• Keepmeinmind (15-1)
• Medina Spirit (9-5) *Favorite
• Crowded Trade (10-1)
• Midnight Bourbon (5-1)
• Rombauer (12-1)
• France Go de Ina (20-1)
• Unbridled Honor (15-1)
• Risk Taking (15-1)
• Concert Tour (5-2)
Picks
Those with a heavy risk appetite can take a risk with Risk Taker at 15-1. My picks however, are on longshot Keepmeinmind (15-1) and Midnight Bourbon (5-1).
I may also include Concert Tour (5-2) in some trifecta plays.
Disclaimer:Benzinga is not an online gambling operator, or a gambling site of any kind. We are simply here to provide information about sports betting for entertainment purposes only.
Photo byKeith LukeonUnsplash.
See more from Benzinga
• Click here for options trades from Benzinga
• Why This Crypto Is Up More Than 70% While Others Are Plummeting
• The Next Hot Altcoin? Zilliqa Outperforming Dogecoin, Bitcoin And Ethereum Thursday
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Preakness Preview: How to Watch It, How To Bet On It And More: Medina Spirit, fresh off a controversial win at the Kentucky derby, will try and win the second leg of the Triple Crown Saturday afternoon. The Preakness will take place late Saturday afternoon at its home of the Pimlico Racetrack in Baltimore, Maryland. How To Watch Fans can tune in to coverage at Comcast Corporation's (NASDAQ: CMCSA ) NBC channel for the race starting at 5 p.m. EST. Post time for the race is set for 6:47 p.m. EST. NBC Sports Network will have coverage of the races before the Preakness as well. How To Bet On The Race Gambling on horse racing operates under a different set of laws and regulations. Check with your state's rules. Michigan is one state where gambling on horse racing is legal. The TVG app and website is an easy place to bet on the race. Odds Preview There are 10 horses participating in the Preakness. Here were each horse’s odds as of Friday evening: Ram (30-1) Keepmeinmind (15-1) Medina Spirit (9-5) *Favorite Crowded Trade (10-1) Midnight Bourbon (5-1) Rombauer (12-1) France Go de Ina (20-1) Unbridled Honor (15-1) Risk Taking (15-1) Concert Tour (5-2) Picks Those with a heavy risk appetite can take a risk with Risk Taker at 15-1. My picks however, are on longshot Keepmeinmind (15-1) and Midnight Bourbon (5-1). I may also include Concert Tour (5-2) in some trifecta plays. Disclaimer: Benzinga is not an online gambling operator, or a gambling site of any kind. We are simply here to provide information about sports betting for entertainment purposes only. Photo by Keith Luke on Unsplash . See more from Benzinga Click here for options trades from Benzinga Why This Crypto Is Up More Than 70% While Others Are Plummeting The Next Hot Altcoin? Zilliqa Outperforming Dogecoin, Bitcoin And Ethereum Thursday © 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
[Social Media Buzz]
None available.
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43537.51, 42909.40, 37002.44, 40782.74, 37304.69, 37536.63, 34770.58, 38705.98, 38402.22, 39294.20
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Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 6644.13, 6601.96, 6625.56, 6589.62, 6556.10, 6502.59, 6576.69, 6622.48, 6588.31, 6602.95, 6652.23, 6642.64, 6585.53, 6256.24, 6274.58, 6285.99, 6290.93, 6596.54, 6596.11, 6544.43, 6476.71, 6465.41, 6489.19, 6482.35, 6487.16, 6475.74, 6495.84, 6476.29, 6474.75, 6480.38, 6486.39, 6332.63, 6334.27, 6317.61, 6377.78, 6388.44, 6361.26, 6376.13, 6419.66, 6461.01, 6530.14, 6453.72, 6385.62, 6409.22, 6411.27, 6371.27, 6359.49, 5738.35, 5648.03, 5575.55, 5554.33, 5623.54, 4871.49, 4451.87, 4602.17, 4365.94, 4347.11, 3880.76, 4009.97, 3779.13, 3820.72, 4257.42, 4278.85, 4017.27, 4214.67, 4139.88, 3894.13, 3956.89, 3753.99, 3521.10, 3419.94, 3476.11, 3614.23, 3502.66, 3424.59, 3486.95, 3313.68, 3242.48, 3236.76, 3252.84, 3545.86, 3696.06, 3745.95, 4134.44, 3896.54, 4014.18, 3998.98, 4078.60, 3815.49, 3857.30.
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[Bitcoin Technical Analysis for 2018-12-26]
Volume: 5326547918, RSI (14-day): 48.13, 50-day EMA: 4351.86, 200-day EMA: 5973.26
[Wider Market Context]
Gold Price: 1269.20, Gold RSI: 67.36
Oil Price: 46.22, Oil RSI: 37.13
[Recent News (last 7 days)]
Wall Street is Backing Out of Crypto: Wall Street is quietly moving out of the crypto market,Bloomberg reports. While the market has continued to be battered by news of fraud and imminent regulatory crackdowns, there was a time when it seemed like Wall Street had started to warm up to the rise of crypto assets.
Last year, when the crypto industry enjoyed what was probably the biggest bull run in its history, it seemed a lot of mainstream financial companies were also ready to join the bandwagon. Names like Goldman Sachs, Fidelity Investments and Barclays Bank Plc. were all affiliated with reports to open cryptocurrency divisions, and these speculations sent ripples around the financial industry.
Goldman Sachs was one of the first Wall Street firms to show interest in Bitcoin futures, and rumors claimed that the firm was working on developing a seperate crypto trading desk. The investment bank partnered with Galaxy Digital and led a$57 million series B investmentin custodian firm BitGo Holdings Inc., in a bid to offercustodyservices. Fast-forward to a year later, and Goldman is yet to offer crypto trading. The bank’s Bitcoin derivative product has not made much progress since it launched.
New York-based Citigroup Inc. also reportedly developed acrypto-based productthat could help asset management firms and hedge funds reduce the risk they get exposed to when they invest in crypto. The product, known as Digital Asset Receipt, was expected to provide crypto investors with an innovative means of keeping tabs on their investments and offer an additional layer of legitimacy and trust to the fledgling asset class.
Then we have London-based Barclays Inc. The British bank showed a massive interest in crypto during the boom, hiring energy traders Chris Tyrer and Matthieu Jobbe Duval to help lead its digital assets division. Both were hired to help look into avenues where the bank could make a foray into the crypto world and provide recommendations, especially as rumors swirled that it was considering developing acrypto trading deskof its own. Sadly, Tyrer ended up leaving earlier this year, while Duval remains with the firm. Inadditionto Tyrer quitting, Barclays alsodeniedany rumors of the crypto trading desk.
According to the report, there are two reasons for the quiet withdrawal of Wall Street in the market; the downturn in the market and a lack of aregulatory frameworkon cryptocurrencies. The first reason is relatively simple. 2018 has been a wild ride for the crypto market, with about$700 billionbeing wiped off. Crypto-based firms are feeling the brunt of this bear market, with news of retrenchments, companies folding up and manufacturers of mining rigs losing profits by the day. On regulation, it is believed that the continued lack of a specific regulatory framework on cryptocurrencies has continued to deter big names in the financial industry from taking the plunge into the sector.
Hopefully, 2019 will see a rejuvenation in the crypto industry, as well as the introduction of clearer crypto regulations.
Featured image from Shutterstock.
The postWall Street is Backing Out of Cryptoappeared first onCCN. || Wall Street is Backing Out of Crypto: Wall Street Wall Street is quietly moving out of the crypto market, Bloomberg reports . While the market has continued to be battered by news of fraud and imminent regulatory crackdowns, there was a time when it seemed like Wall Street had started to warm up to the rise of crypto assets. Last year, when the crypto industry enjoyed what was probably the biggest bull run in its history, it seemed a lot of mainstream financial companies were also ready to join the bandwagon. Names like Goldman Sachs, Fidelity Investments and Barclays Bank Plc. were all affiliated with reports to open cryptocurrency divisions, and these speculations sent ripples around the financial industry. Goldman Sachs’ Trading Desk Dreams Goldman Sachs was one of the first Wall Street firms to show interest in Bitcoin futures, and rumors claimed that the firm was working on developing a seperate crypto trading desk. The investment bank partnered with Galaxy Digital and led a $57 million series B investment in custodian firm BitGo Holdings Inc., in a bid to offer custody services. Fast-forward to a year later, and Goldman is yet to offer crypto trading. The bank’s Bitcoin derivative product has not made much progress since it launched. Citigroup Inc.- Digital Asset Receipts New York-based Citigroup Inc. also reportedly developed a crypto-based product that could help asset management firms and hedge funds reduce the risk they get exposed to when they invest in crypto. The product, known as Digital Asset Receipt, was expected to provide crypto investors with an innovative means of keeping tabs on their investments and offer an additional layer of legitimacy and trust to the fledgling asset class. Barclays Inc. and Its Crypto Trading Desk Then we have London-based Barclays Inc. The British bank showed a massive interest in crypto during the boom, hiring energy traders Chris Tyrer and Matthieu Jobbe Duval to help lead its digital assets division. Both were hired to help look into avenues where the bank could make a foray into the crypto world and provide recommendations, especially as rumors swirled that it was considering developing a crypto trading desk of its own. Sadly, Tyrer ended up leaving earlier this year, while Duval remains with the firm. In addition to Tyrer quitting, Barclays also denied any rumors of the crypto trading desk. Story continues So What Happened? According to the report, there are two reasons for the quiet withdrawal of Wall Street in the market; the downturn in the market and a lack of a regulatory framework on cryptocurrencies. The first reason is relatively simple. 2018 has been a wild ride for the crypto market, with about $700 billion being wiped off. Crypto-based firms are feeling the brunt of this bear market, with news of retrenchments, companies folding up and manufacturers of mining rigs losing profits by the day. On regulation, it is believed that the continued lack of a specific regulatory framework on cryptocurrencies has continued to deter big names in the financial industry from taking the plunge into the sector. Hopefully, 2019 will see a rejuvenation in the crypto industry, as well as the introduction of clearer crypto regulations. Featured image from Shutterstock. The post Wall Street is Backing Out of Crypto appeared first on CCN . || Bitcoin Private Denies Fraud Allegations and Calls for Halt to BTCP Trading: Bitcoin Private has confirmed the allegations made by CoinMetrics, reported by CCN yesterday . Calling them mathemetically accurate, the development team says that no one on their team knows where the extra coins wound up. Again, CoinMetrics stated that at least 300,000 of them had already been moved through exchanges. Due to the low take-up by the Bitcoin community of Bitcoin Private (in which users could essentially have claimed free coins on the BTCP blockchain), this is a significant portion of the overall actual supply of Bitcoin Private, or the supply that is in use. Bitcoin Private has conducted a full audit of the situation and has determined that the blame is with a single developer. The developer is called airk42. He has not contributed to Bitcoin Private since claiming a bounty and completing an issue they had out, which was to tweak the import so that BTCP could add arbitrary transactions as coinbase inputs at a given block height . The developer completes the issue, merges his own code, and is sent his reward. One line of code is missing which allows the fork mine to be exploited due to the nodes not properly verifying the falsified fork blocks. [
] The missing line of code is as follows: || tx.vout.size() > 1. We determined this after the CoinMetrics report was released. Bitcoin Private does not believe the developer in question exploited his own mistake. Instead, they believe an unidentified bad actor took advantage of the bug during the establishment of the BTCP blockchain. During the publicly announced fork mine, a bad actor exploited this bug, creating 2 million coins. It went unnoticed by the contribution team until it was uncovered by CoinMetrics. Bitcoin Private Team Requests Deposits and Withdrawals Be Closed On Exchanges According to the official statement on the situation, Bitcoin Private has requested that all exchanges immediately stop deposits and withdrawals of Bitcoin Private. BTCP Contribution team requested for deposits and withdrawals to be closed on exchanges trading BTCP. Story continues The contribution team is unwilling to point fingers at this time, although despite the use of the shielded addresses , exchanges could potentially reveal the identities if they were legally required to do so. Either a lawsuit or a law enforcement agency would have to bring a valid subpoena against the exchanges which essentially laundered the fake coins. While Bitcoin Private says it could have been anybody, the odds are high it was someone with an intimate knowledge of the Bitcoin Private codebase, someone who would have been sharp enough to notice the bug and utilize it. It was either the author of the bug, someone in the development team, or someone deeply ingrained in the small community with a strong blockchain development background. As the code was open source, and the fork-mine was announced on Twitter, anyone with sufficient blockchain development knowledge could have exploited it. They have contacted HitBTC, but HitBTC is unlikely to reveal user information on simple request. Exchanges abide by user agreements which guarantee some level of user privacy. They would be opening themselves up to legal action if they were to easily reveal the identity. Instead, legal channels would be the best option to recover the identity of the hacker. Bitcoin Private To Eliminate All Shielded Coins To fix the issue, Bitcoin Private has announced they will be eliminating all coins held in shielded addresses. This will eliminate the false coins and will also eliminate a number of legitimate coins. It will require a hardfork which essentially rewrites the blockchain, and in the case of transactions sent to exchanges, it might have a negative economic impact. CoinMetrics has stated they believe less than 20k legitimate BTCP coins exist in shielded addresses along with 1.71.8 million illegitimate coins. Our team is favoring an option to hard fork and remove all shielded coins from existence. While this would cause the 20k legitimate coins to disappear, we believe this is preferable to the alternative of leaving the 1.71.8 million illegitimate coins in circulation. This would also fix the over-supply issue. It should be noted that in the original Zcash and Zclassic protocols, its possible to move coins out of shielded addresses, to unshielded addresses. Those who hold shielded BTCP coins are advised to do so immediately because the Bitcoin Private contribution team has said they are moving forward with this solution immediately. There are a couple of potential outcomes. The first is that the community, including the miners, overwhelmingly agrees with the notion of eliminating all existing shielded coins and thus things move on as Bitcoin Privates team would like: as if it never happened. The other is that two Bitcoin Private chains will emerge, one which preserves all of the shielded addresses and one which does not. This is essentially a DAO Hack situation, which resulted in Ethereum Classic, which still exists today and recently saw some price momentum alongside Ethereum. The End of Bitcoin Private? Another possibility is that this is the end of Bitcoin Private. The community fizzles out and the coin trends toward zero, trading in the sub-cent range. Its happened dozens of times to other blockchains and is well within the realm of reasonability. Plenty of people have been upset by the revelations, here are a few examples: I looking forward to the community lawsuit vs. Rhett , Jake and the rest of the fuckers, who knew from day one! Marksimalist (@skladmann) December 24, 2018 Now I get why this coin is called Bitcoin Private. P for Private-Premine. Man on a Ledger (@ManOnALedger) December 24, 2018 Yall had an attorney and everything for the funding. Is that the same lawyer we should address our legal concerns ? Johnny Krypto (@Bitcoinator777) December 24, 2018 The fix does not, reportedly, seek to eliminate the creation of shielded addresses, which are the whole point of Bitcoin Private. It just intends to eliminate those coins that are already stored in shielded addresses. Again, as a public service announcement, the author recommends anyone with shielded coins to move them to a transparent address until such a time that the hard fork and update are complete. It would be interesting if the attacker were to do this. In short, this story isnt over. The identity of the attacker is likely to be revealed in the coming months, as grumblings of a lawsuit have been heard. Featured image from Shutterstock. The post Bitcoin Private Denies Fraud Allegations and Calls for Halt to BTCP Trading appeared first on CCN . || Bitcoin Private Denies Fraud Allegations and Calls for Halt to BTCP Trading: Bitcoin Private has confirmed the allegations made by CoinMetrics,reported by CCN yesterday. Calling them “mathemetically accurate,” the development team says that no one on their team knows where the extra coins wound up. Again, CoinMetrics stated that at least 300,000 of them had already been moved through exchanges.
Due to the low take-up by the Bitcoin community of Bitcoin Private (in which users could essentially have claimed free coins on the BTCP blockchain), this is a significant portion of the overallactualsupply of Bitcoin Private, or the supply that is in use.
Bitcoin Privatehas conducted a full auditof the situation and has determined that the blame is with a single developer. The developer is called airk42. He has not contributed to Bitcoin Private since claiming a bounty and completing an “issue” they had out, which was to tweak the import so that BTCP could “add arbitrary transactions as coinbase inputs at a given block height.”
The developer completes the issue, merges his own code, and is sent his reward. One line of code is missing which allows the fork mine to be exploited due to the nodes not properly verifying the falsified fork blocks. […] The missing line of code is as follows: || tx.vout.size() > 1. We determined this after the CoinMetrics report was released.
Bitcoin Private does not believe the developer in question exploited his own mistake. Instead, they believe an unidentified “bad actor” took advantage of the bug during the establishment of the BTCP blockchain.
During the publicly announced fork mine, a bad actor exploited this bug, creating 2 million coins. It went unnoticed by the contribution team until it was uncovered by CoinMetrics.
According to the official statement on the situation, Bitcoin Private has requested that all exchanges immediately stop deposits and withdrawals of Bitcoin Private.
BTCP Contribution team requested for deposits and withdrawals to be closed on exchanges trading BTCP.
The contribution team is unwilling to point fingers at this time, although despite the use of theshielded addresses, exchanges could potentially reveal the identities if they were legally required to do so. Either a lawsuit or a law enforcement agency would have to bring a valid subpoena against the exchanges which essentially laundered the fake coins.
While Bitcoin Private says it could have been anybody, the odds are high it was someone with an intimate knowledge of the Bitcoin Private codebase, someone who would have been sharp enough to notice the bug and utilize it. It was either the author of the bug, someone in the development team, or someone deeply ingrained in the small community with a strong blockchain development background.
As the code was open source, and the fork-mine was announced on Twitter, anyone with sufficient blockchain development knowledge could have exploited it.
They have “contacted HitBTC,” but HitBTC is unlikely to reveal user information on simple request. Exchanges abide by user agreements which guarantee some level of user privacy. They would be opening themselves up to legal action if they were to easily reveal the identity. Instead, legal channels would be the best option to recover the identity of the hacker.
To fix the issue, Bitcoin Private has announced they will be eliminating all coins held in shielded addresses. This will eliminate the false coins and will also eliminate a number of legitimate coins. It will require a hardfork which essentially rewrites the blockchain, and in the case of transactions sent to exchanges, it might have a negative economic impact.
CoinMetrics has stated they believe less than 20k legitimate BTCP coins exist in shielded addresses along with 1.7–1.8 million illegitimate coins. Our team is favoring an option to hard fork and remove all shielded coins from existence. While this would cause the 20k legitimate coins to disappear, we believe this is preferable to the alternative of leaving the 1.7–1.8 million illegitimate coins in circulation. This would also fix the over-supply issue.
It should be noted that in the original Zcash and Zclassic protocols, it’s possible to move coins out of shielded addresses, to unshielded addresses. Those who hold shielded BTCP coins are advised to do so immediately because the Bitcoin Private contribution team has said they are moving forward with this solution immediately.
There are a couple of potential outcomes.
The first is that the community, including the miners, overwhelmingly agrees with the notion of eliminating all existing shielded coins and thus things move on as Bitcoin Private’s team would like: as if it never happened.
The other is that two Bitcoin Private chains will emerge, one which preserves all of the shielded addresses and one which does not. This is essentially a DAO Hack situation, which resulted in Ethereum Classic, which still exists today and recently saw some price momentum alongside Ethereum.
Another possibility is that this is the end of Bitcoin Private. The community fizzles out and the coin trends toward zero, trading in the sub-cent range. It’s happened dozens of times to other blockchains and is well within the realm of reasonability. Plenty of people have been upset by the revelations, here are a few examples:
The “fix” does not, reportedly, seek to eliminate the creation of shielded addresses, which are the whole point of Bitcoin Private. It just intends to eliminate those coins that are already stored in shielded addresses. Again, as a public service announcement, the author recommends anyone with shielded coins to move them to a transparent address until such a time that the hard fork and update are complete.
It would be interesting if the attacker were to do this.
In short, this story isn’t over. The identity of the attacker is likely to be revealed in the coming months, as grumblings of a lawsuit have been heard.
Featured image from Shutterstock.
The postBitcoin Private Denies Fraud Allegations and Calls for Halt to BTCP Tradingappeared first onCCN. || Bitcoin Private Denies Fraud Allegations and Calls for Halt to BTCP Trading: Bitcoin Private has confirmed the allegations made by CoinMetrics,reported by CCN yesterday. Calling them “mathemetically accurate,” the development team says that no one on their team knows where the extra coins wound up. Again, CoinMetrics stated that at least 300,000 of them had already been moved through exchanges.
Due to the low take-up by the Bitcoin community of Bitcoin Private (in which users could essentially have claimed free coins on the BTCP blockchain), this is a significant portion of the overallactualsupply of Bitcoin Private, or the supply that is in use.
Bitcoin Privatehas conducted a full auditof the situation and has determined that the blame is with a single developer. The developer is called airk42. He has not contributed to Bitcoin Private since claiming a bounty and completing an “issue” they had out, which was to tweak the import so that BTCP could “add arbitrary transactions as coinbase inputs at a given block height.”
The developer completes the issue, merges his own code, and is sent his reward. One line of code is missing which allows the fork mine to be exploited due to the nodes not properly verifying the falsified fork blocks. […] The missing line of code is as follows: || tx.vout.size() > 1. We determined this after the CoinMetrics report was released.
Bitcoin Private does not believe the developer in question exploited his own mistake. Instead, they believe an unidentified “bad actor” took advantage of the bug during the establishment of the BTCP blockchain.
During the publicly announced fork mine, a bad actor exploited this bug, creating 2 million coins. It went unnoticed by the contribution team until it was uncovered by CoinMetrics.
According to the official statement on the situation, Bitcoin Private has requested that all exchanges immediately stop deposits and withdrawals of Bitcoin Private.
BTCP Contribution team requested for deposits and withdrawals to be closed on exchanges trading BTCP.
The contribution team is unwilling to point fingers at this time, although despite the use of theshielded addresses, exchanges could potentially reveal the identities if they were legally required to do so. Either a lawsuit or a law enforcement agency would have to bring a valid subpoena against the exchanges which essentially laundered the fake coins.
While Bitcoin Private says it could have been anybody, the odds are high it was someone with an intimate knowledge of the Bitcoin Private codebase, someone who would have been sharp enough to notice the bug and utilize it. It was either the author of the bug, someone in the development team, or someone deeply ingrained in the small community with a strong blockchain development background.
As the code was open source, and the fork-mine was announced on Twitter, anyone with sufficient blockchain development knowledge could have exploited it.
They have “contacted HitBTC,” but HitBTC is unlikely to reveal user information on simple request. Exchanges abide by user agreements which guarantee some level of user privacy. They would be opening themselves up to legal action if they were to easily reveal the identity. Instead, legal channels would be the best option to recover the identity of the hacker.
To fix the issue, Bitcoin Private has announced they will be eliminating all coins held in shielded addresses. This will eliminate the false coins and will also eliminate a number of legitimate coins. It will require a hardfork which essentially rewrites the blockchain, and in the case of transactions sent to exchanges, it might have a negative economic impact.
CoinMetrics has stated they believe less than 20k legitimate BTCP coins exist in shielded addresses along with 1.7–1.8 million illegitimate coins. Our team is favoring an option to hard fork and remove all shielded coins from existence. While this would cause the 20k legitimate coins to disappear, we believe this is preferable to the alternative of leaving the 1.7–1.8 million illegitimate coins in circulation. This would also fix the over-supply issue.
It should be noted that in the original Zcash and Zclassic protocols, it’s possible to move coins out of shielded addresses, to unshielded addresses. Those who hold shielded BTCP coins are advised to do so immediately because the Bitcoin Private contribution team has said they are moving forward with this solution immediately.
There are a couple of potential outcomes.
The first is that the community, including the miners, overwhelmingly agrees with the notion of eliminating all existing shielded coins and thus things move on as Bitcoin Private’s team would like: as if it never happened.
The other is that two Bitcoin Private chains will emerge, one which preserves all of the shielded addresses and one which does not. This is essentially a DAO Hack situation, which resulted in Ethereum Classic, which still exists today and recently saw some price momentum alongside Ethereum.
Another possibility is that this is the end of Bitcoin Private. The community fizzles out and the coin trends toward zero, trading in the sub-cent range. It’s happened dozens of times to other blockchains and is well within the realm of reasonability. Plenty of people have been upset by the revelations, here are a few examples:
The “fix” does not, reportedly, seek to eliminate the creation of shielded addresses, which are the whole point of Bitcoin Private. It just intends to eliminate those coins that are already stored in shielded addresses. Again, as a public service announcement, the author recommends anyone with shielded coins to move them to a transparent address until such a time that the hard fork and update are complete.
It would be interesting if the attacker were to do this.
In short, this story isn’t over. The identity of the attacker is likely to be revealed in the coming months, as grumblings of a lawsuit have been heard.
Featured image from Shutterstock.
The postBitcoin Private Denies Fraud Allegations and Calls for Halt to BTCP Tradingappeared first onCCN. || Not Just Crypto and Bitcoin: Every Major Asset Class Had a Major Fallback in 2018: The cryptocurrency market is not the only financial asset that has suffered losses and recorded a consistent decline as the year winds to an end. In fact, every major asset class for investment has recorded negative returns or an unchanged performance year. This is the conclusion of a CNBC report summarizing the performance of markets in 2018. According to the report, the activity dominating the close of the trading year is a series of shorts on stocks, corporate bonds, commodities, government debt, and practically every other asset class available in markets around the world. This comes a few weeks after Morgan Creek founder Anthony Pompliano pointed out that that the S&P 500 lost $755 billion in a little over 4 hours of trading as the general market rout shows no sign of stopping anytime soon. The S&P 500 lost almost $755 BILLION today. That is more money lost in a single day for public equity investors than all crypto investors combined this year. The math dont lie! Pomp (@APompliano) December 4, 2018 Misery Across Board Cryptocurrencies have experienced a mostly negative year, recording a decline in trading volumes, as well as price crashes led by bitcoin which is down roughly 80 percent from its all time high of December 2017. In total, between January and December, about $700 billion of market capitalization has been wiped off cryptocurrencies as investors brace for a so-called crypto winter in the absence of any optimistic predictions coming to fruition. Story continues The cryptocurrency market has lost about $700 billion in capitalization in 2018 | Source: CoinMarketCap This pain however, is merely a relatively small part of the pain experienced by investors across practically every market in the U.S.A. In October, CNN reported that the Bank of America warned that 14 of 19 bear market signals had been triggered and the turbulence could last. While some investors believed that the prolonged equities bull run which began in March 2009 would still prolong, many accepted that the longest bull run in American history was over. The Dow Jones Industrial Average has endured a calamitous year end | Source: Macro Trends The latter group turned out to be right, with Market Watch reporting recently that the S&P 500 fell 2.1 percent to 2,417, and the Dow Jones Industrial Average falling 1.6 percent to 22,444. The Nasdaq Composite on its part slipped 3 percent to 6,333 points. The performance of the S&P 500 has mirrored that of the Dow Jones | Source: Macro Trends Speaking to CNBC, Head of U.S. Rate Strategy at BMO, Ian Lyngen predicted that the downward movement will continue into 2019. In his words: All assets have underperformed in 2018 simply because the Fed accelerated the process of tightening monetary policy with a two-pronged approach of both hiking rates and reducing the balance sheet [
] We continue to expect the Fed will hike next year until they break something. The reversal in equities is not the magnitude that has historically led the Fed reverse their policy, so theres still room to go. Last Monday, U.S. Treasury Secretary Steve Mnuchin spoke to the CEOs of JP Morgan Chase, Bank of America, Goldman Sachs, Morgan Stanley, Wells Fargo and Citigroup to discuss ways of calming the equity market rout and confirm presence of sufficient liquidity to aid recovery efforts through commercial and retail lending. In 2018 There Were Few Winning Options The only notable winning options in 2018 were commodities like natural gas, wheat, cocoa, oats, palladium and corn. Where will 2019 bring us? Comment below. Featured image from Shutterstock. The post Not Just Crypto and Bitcoin: Every Major Asset Class Had a Major Fallback in 2018 appeared first on CCN . || Not Just Crypto and Bitcoin: Every Major Asset Class Had a Major Fallback in 2018: The cryptocurrency market is not the only financial asset that has suffered losses and recorded a consistent decline as the year winds to an end. In fact, every major asset class for investment has recorded negative returns or an unchanged performance year. This is the conclusion of aCNBCreport summarizing the performance of markets in 2018.
According to the report, the activity dominating the close of the trading year is a series of shorts on stocks, corporate bonds, commodities, government debt, and practically every other asset class available in markets around the world. This comes a few weeks after Morgan Creek founder Anthony Pomplianopointed outthat that the S&P 500 lost $755 billion in a little over 4 hours of trading as the general market rout shows no sign of stopping anytime soon.
Cryptocurrencies have experienced a mostly negative year, recording a decline in trading volumes, as well as price crashes led by bitcoin which is down roughly 80 percent from its all time high of December 2017. In total, between January and December, about $700 billion of market capitalization has been wiped off cryptocurrencies as investors brace for a so-called crypto winter in the absence of any optimistic predictions coming to fruition.
This pain however, is merely a relatively small part of the pain experienced by investors across practically every market in the U.S.A. In October,CNNreported that the Bank of Americawarnedthat 14 of 19 bear market signals had been triggered and the turbulence could last. While some investors believed that the prolonged equities bull run which began in March 2009 would still prolong, many accepted that the longest bull run in American history was over.
The latter group turned out to be right, withMarket Watchreporting recently that the S&P 500 fell 2.1 percent to 2,417, and the Dow Jones Industrial Average falling 1.6 percent to 22,444. The Nasdaq Composite on its part slipped 3 percent to 6,333 points.
Speaking toCNBC,Head of U.S. Rate Strategy at BMO, Ian Lyngen predicted that the downward movement will continue into 2019. In his words:
All assets have underperformed in 2018 simply because the Fed accelerated the process of tightening monetary policy with a two-pronged approach of both hiking rates and reducing the balance sheet […] “We continue to expect the Fed will hike next year until they break something. The reversal in equities is not the magnitude that has historically led the Fed reverse their policy, so there’s still room to go.
Last Monday, U.S. Treasury Secretary Steve Mnuchinspoketo the CEOs of JP Morgan Chase, Bank of America, Goldman Sachs, Morgan Stanley, Wells Fargo and Citigroup to discuss ways of calming the equity market rout and confirm presence of sufficient liquidity to aid recovery efforts through commercial and retail lending.
The only notable winning options in 2018 were commodities like natural gas, wheat, cocoa, oats, palladium and corn. Where will 2019 bring us? Comment below.
Featured image from Shutterstock.
The postNot Just Crypto and Bitcoin: Every Major Asset Class Had a Major Fallback in 2018appeared first onCCN. || Not Just Crypto and Bitcoin: Every Major Asset Class Had a Major Fallback in 2018: The cryptocurrency market is not the only financial asset that has suffered losses and recorded a consistent decline as the year winds to an end. In fact, every major asset class for investment has recorded negative returns or an unchanged performance year. This is the conclusion of aCNBCreport summarizing the performance of markets in 2018.
According to the report, the activity dominating the close of the trading year is a series of shorts on stocks, corporate bonds, commodities, government debt, and practically every other asset class available in markets around the world. This comes a few weeks after Morgan Creek founder Anthony Pomplianopointed outthat that the S&P 500 lost $755 billion in a little over 4 hours of trading as the general market rout shows no sign of stopping anytime soon.
Cryptocurrencies have experienced a mostly negative year, recording a decline in trading volumes, as well as price crashes led by bitcoin which is down roughly 80 percent from its all time high of December 2017. In total, between January and December, about $700 billion of market capitalization has been wiped off cryptocurrencies as investors brace for a so-called crypto winter in the absence of any optimistic predictions coming to fruition.
This pain however, is merely a relatively small part of the pain experienced by investors across practically every market in the U.S.A. In October,CNNreported that the Bank of Americawarnedthat 14 of 19 bear market signals had been triggered and the turbulence could last. While some investors believed that the prolonged equities bull run which began in March 2009 would still prolong, many accepted that the longest bull run in American history was over.
The latter group turned out to be right, withMarket Watchreporting recently that the S&P 500 fell 2.1 percent to 2,417, and the Dow Jones Industrial Average falling 1.6 percent to 22,444. The Nasdaq Composite on its part slipped 3 percent to 6,333 points.
Speaking toCNBC,Head of U.S. Rate Strategy at BMO, Ian Lyngen predicted that the downward movement will continue into 2019. In his words:
All assets have underperformed in 2018 simply because the Fed accelerated the process of tightening monetary policy with a two-pronged approach of both hiking rates and reducing the balance sheet […] “We continue to expect the Fed will hike next year until they break something. The reversal in equities is not the magnitude that has historically led the Fed reverse their policy, so there’s still room to go.
Last Monday, U.S. Treasury Secretary Steve Mnuchinspoketo the CEOs of JP Morgan Chase, Bank of America, Goldman Sachs, Morgan Stanley, Wells Fargo and Citigroup to discuss ways of calming the equity market rout and confirm presence of sufficient liquidity to aid recovery efforts through commercial and retail lending.
The only notable winning options in 2018 were commodities like natural gas, wheat, cocoa, oats, palladium and corn. Where will 2019 bring us? Comment below.
Featured image from Shutterstock.
The postNot Just Crypto and Bitcoin: Every Major Asset Class Had a Major Fallback in 2018appeared first onCCN. || Nigerian Blockchain Experts Believe Crypto Can Boost African Economy: When we talk about worldwide crypto adoption, one of the most untapped places in the world is Africa. Nigerian blockchain experts have called for greater regulation of cryptocurrency on the African continent to strengthen the sector in the region and to help boost the economy.
Although most crypto-fanatics will pour scorn on any talk of regulatory measures, some experts believe that the crypto industry,especially in Africa, needs reigning in and needs to be guided in the right direction for the betterment of all.
At the recentLuno Meet in Nigeriatitled “Building Trust in the Nigerian Cryptocurrency Market”, some of the nation’s most qualified crypto experts have been discussing the best way forward for not only the Nigerian blockchain industry but also right across the continent.
The Chief Operating Officer of Blockchain Solutions Limited, Lucky Uwakwe, told the audience that cryptocurrency is on the rise globally and that 65% of people are now aware of crypto. Uwakwe cited research fromLuno Nigeriathat 25% of people in the study now own crypto in some form. He cited from the research that 51% saw crypto as an investment, 16% used crypto for online shopping and that 19% of people in the study used crypto for remittance.
Although the study and the stats seem a bit contrived, the overriding issue that Uwakwe was trying to put across is that crypto is on the rise and that Nigeria needs to get up to speed or will get left behind in the cold. When addressing the audience, Uwakwe was quoted as saying:
Bitcoin is the first cryptocurrency to use peer to peer technology; It is a simpler implementation of blockchain technology; Functions as a payment tool that can be used to send money, and carries value as an investment tool.
Also speaking at the Luno event, Country Manager and Nigerian blockchain expert Owenize Odia talked about howregulation is a pivotal issuethat can help cement trust in the Nigerian and African crypto sectors by saying:
Regulation is key but should be county specific, since it can bring about credibility to market, even though banks try to distant their operations from cryptocurrency.
Odia also touched on other aspects of crypto adoption and talked about how the decentralized and universal nature of crypto could help to drive the Nigerian economy while also meeting with the needs of the people. It seems it’s only a matter of time before more regulatory measures are imposed on the Nigerian crypto markets for better or worse.
Featured image from Shutterstock.
The postNigerian Blockchain Experts Believe Crypto Can Boost African Economyappeared first onCCN. || Nigerian Blockchain Experts Believe Crypto Can Boost African Economy: When we talk about worldwide crypto adoption, one of the most untapped places in the world is Africa. Nigerian blockchain experts have called for greater regulation of cryptocurrency on the African continent to strengthen the sector in the region and to help boost the economy. Although most crypto-fanatics will pour scorn on any talk of regulatory measures, some experts believe that the crypto industry, especially in Africa , needs reigning in and needs to be guided in the right direction for the betterment of all. Nigerian Blockchain Experts at Luno Meet At the recent Luno Meet in Nigeria titled “Building Trust in the Nigerian Cryptocurrency Market”, some of the nation’s most qualified crypto experts have been discussing the best way forward for not only the Nigerian blockchain industry but also right across the continent. The Chief Operating Officer of Blockchain Solutions Limited, Lucky Uwakwe, told the audience that cryptocurrency is on the rise globally and that 65% of people are now aware of crypto. Uwakwe cited research from Luno Nigeria that 25% of people in the study now own crypto in some form. He cited from the research that 51% saw crypto as an investment, 16% used crypto for online shopping and that 19% of people in the study used crypto for remittance. Although the study and the stats seem a bit contrived, the overriding issue that Uwakwe was trying to put across is that crypto is on the rise and that Nigeria needs to get up to speed or will get left behind in the cold. When addressing the audience, Uwakwe was quoted as saying: Bitcoin is the first cryptocurrency to use peer to peer technology; It is a simpler implementation of blockchain technology; Functions as a payment tool that can be used to send money, and carries value as an investment tool. Making Africa Great Again! Also speaking at the Luno event, Country Manager and Nigerian blockchain expert Owenize Odia talked about how regulation is a pivotal issue that can help cement trust in the Nigerian and African crypto sectors by saying: Story continues Regulation is key but should be county specific, since it can bring about credibility to market, even though banks try to distant their operations from cryptocurrency. Odia also touched on other aspects of crypto adoption and talked about how the decentralized and universal nature of crypto could help to drive the Nigerian economy while also meeting with the needs of the people. It seems it’s only a matter of time before more regulatory measures are imposed on the Nigerian crypto markets for better or worse. Featured image from Shutterstock. The post Nigerian Blockchain Experts Believe Crypto Can Boost African Economy appeared first on CCN . || Bitcoin ‘Died’ 90 Times In 2018: The rumors of bitcoin’s death are greatly exaggerated, according to the stunning number of obituaries it racked up during a dismal crypto bear market.
The original cryptocurrency has died 90 times in 2018, according to99 Bitcoins. That’s slightly less than the 125 times it died in 2017.
Despite detractors’ eagerness to bury it once and for all, bitcoin’s media profile has never been higher. So even as its price cratered, Google searches for bitcoin have rocketed to record highs.
As CCN reported,Google searchesfor “bitcoin” recently topped online searches for President Donald Trump. That’s staggering when you consider that Trump is the center of most news coverage on any given day.
Using this metric, it’s safe to say that bitcoin and the cryptocurrency industry have entered the mainstream consciousness.
A year ago, bitcoin and the crypto market were fringe topics that were mostly a curiosity to readers of financial news. Today, mainstream business outlets cover bitcoin’s daily price fluctuations and the emerging blockchain industry on a daily basis.
Here’s a flashback to some of the more memorable, recent proclamations that “bitcoin is dead.”
Atulya Sarin, a finance professor at Santa Clara University, insists that bitcoin will never supplant gold as a store of value, so bitcoiners should just give it up already.
It appears bitcoin is now enteringa death spiral…bitcoin will quickly go to zero.
“I see bitcoin as adead man walking,”said Peter Mallouk, the president of Creative Planning, a Kansas investment firm.
The recent precipitous drop may be the beginning of its inevitable and inexorable death spiral.
Mallouk said future generations will read about bitcoin in finance textbooks as a cautionary tale about the dangers of delusional zealots “desperate to make a silk purse out of a sow’s ear.”
Environmentalists — who claim crypto mining is an existential threat to humankind — are breathlessly celebrating the bear market, saying it’s a sure sign that bitcoin is “will soonbe no more.”
Teen crypto millionaire Erik Finman said “bitcoin is dead” because it’s “too fragmented” and there’s too much infighting within the ecosystem.
“It may have a bull market or two left in it, but long-term, it’s dead,” Finmanpredicted.
Crypto entrepreneur Calvin Ayre — an advocate of Bitcoin Cash Satoshi Vision (SV) — predicts that the bitcoin price willplunge to zeroin 2019 because it’s worthless.
It has no utility. It does not do anything.
Ironically, Ayre claims that the original bitcoin is an impostor and that Bitcoin SV is the “real bitcoin.”
Despite these noisy protestations, bitcoin is still alive and kicking. Moreover, even its harshest critics have heaped praise on blockchain, the revolutionary technology underpinning crypto.
As 2018 draws to a close, many industry insiders are optimistic and confident that 2019 will be a blockbuster year ofunprecedented expansionfueled by a surge in institutional investments.
Early bitcoiners like the Winklevoss twins, Tyler and Cameron, are unfazed by the current market slump and are betting big on the long-term future of crypto.
As for bitcoin skeptics who can’t see its potential, Tyler Winklevoss said they merely suffer from an epic “failure of imagination.”
Happy holidays from CCN!
Featured image from Shutterstock.
The postBitcoin ‘Died’ 90 Times In 2018appeared first onCCN. || Bitcoin Died 90 Times In 2018: The rumors of bitcoins death are greatly exaggerated, according to the stunning number of obituaries it racked up during a dismal crypto bear market. The original cryptocurrency has died 90 times in 2018, according to 99 Bitcoins . Thats slightly less than the 125 times it died in 2017. Despite detractors eagerness to bury it once and for all, bitcoins media profile has never been higher. So even as its price cratered, Google searches for bitcoin have rocketed to record highs. Google Searches For Bitcoin Soared As CCN reported, Google searches for bitcoin recently topped online searches for President Donald Trump. Thats staggering when you consider that Trump is the center of most news coverage on any given day. Using this metric, its safe to say that bitcoin and the cryptocurrency industry have entered the mainstream consciousness. A year ago, bitcoin and the crypto market were fringe topics that were mostly a curiosity to readers of financial news. Today, mainstream business outlets cover bitcoins daily price fluctuations and the emerging blockchain industry on a daily basis. bitcoin is dead obituary meme Heres a flashback to some of the more memorable, recent proclamations that bitcoin is dead. Atulya Sarin, a finance professor at Santa Clara University, insists that bitcoin will never supplant gold as a store of value, so bitcoiners should just give it up already. It appears bitcoin is now entering a death spiral
bitcoin will quickly go to zero. Worthless Bitcoin Has Entered Death Spiral: Finance Professor https://t.co/wBTE0Wai9n CCN (@CryptoCoinsNews) December 3, 2018 I see bitcoin as a dead man walking, said Peter Mallouk, the president of Creative Planning, a Kansas investment firm. The recent precipitous drop may be the beginning of its inevitable and inexorable death spiral. Mallouk said future generations will read about bitcoin in finance textbooks as a cautionary tale about the dangers of delusional zealots desperate to make a silk purse out of a sows ear. Bitcoin is a Dead Man Walking, Claims Creative Planning CIO https://t.co/iDSHOZJQck CCN (@CryptoCoinsNews) December 8, 2018 Environmentalists who claim crypto mining is an existential threat to humankind are breathlessly celebrating the bear market, saying its a sure sign that bitcoin is will soon be no more . Story continues Anti-Crypto Environmentalists Gleeful that Bitcoin is Becoming Worthless https://t.co/78L4Qi9VkZ CCN (@CryptoCoinsNews) December 12, 2018 Teen crypto millionaire Erik Finman said bitcoin is dead because its too fragmented and theres too much infighting within the ecosystem. It may have a bull market or two left in it, but long-term, its dead, Finman predicted . Teenage Crypto Millionaire Erik Finman Says Bitcoin is Pretty Much Dead, Offers Hope for Bitcoin Cash https://t.co/VU1T8sItIH CCN (@CryptoCoinsNews) December 17, 2018 Crypto entrepreneur Calvin Ayre an advocate of Bitcoin Cash Satoshi Vision (SV) predicts that the bitcoin price will plunge to zero in 2019 because its worthless. It has no utility. It does not do anything. Ironically, Ayre claims that the original bitcoin is an impostor and that Bitcoin SV is the real bitcoin. Bitcoin Price Will Crash to Zero Says Bitcoin Cash Founder Calvin Ayre https://t.co/34ZrOZVJhu CCN (@CryptoCoinsNews) December 17, 2018 Despite these noisy protestations, bitcoin is still alive and kicking. Moreover, even its harshest critics have heaped praise on blockchain, the revolutionary technology underpinning crypto. As 2018 draws to a close, many industry insiders are optimistic and confident that 2019 will be a blockbuster year of unprecedented expansion fueled by a surge in institutional investments. Winklevoss: Failure of Imagination Blinds Haters Early bitcoiners like the Winklevoss twins, Tyler and Cameron, are unfazed by the current market slump and are betting big on the long-term future of crypto. As for bitcoin skeptics who cant see its potential, Tyler Winklevoss said they merely suffer from an epic failure of imagination. Happy holidays from CCN! On the 12th day of REKT-mas, my cryptos gave to me 12 markets crashing 11 feds indicting 10 hacked smart contracts 9 forks of Bitcoin 8 lambo repos 7 bankrupt miners 6 useless tokens 5 exit scams 4 exchange hacks 3 rage quits 2 margin calls and a Bitcoin o-bit-u-a-ry Clark Moody (@clarkmoody) December 4, 2018 Featured image from Shutterstock. The post Bitcoin Died 90 Times In 2018 appeared first on CCN . View comments || Bitcoin ‘Died’ 90 Times In 2018: The rumors of bitcoin’s death are greatly exaggerated, according to the stunning number of obituaries it racked up during a dismal crypto bear market.
The original cryptocurrency has died 90 times in 2018, according to99 Bitcoins. That’s slightly less than the 125 times it died in 2017.
Despite detractors’ eagerness to bury it once and for all, bitcoin’s media profile has never been higher. So even as its price cratered, Google searches for bitcoin have rocketed to record highs.
As CCN reported,Google searchesfor “bitcoin” recently topped online searches for President Donald Trump. That’s staggering when you consider that Trump is the center of most news coverage on any given day.
Using this metric, it’s safe to say that bitcoin and the cryptocurrency industry have entered the mainstream consciousness.
A year ago, bitcoin and the crypto market were fringe topics that were mostly a curiosity to readers of financial news. Today, mainstream business outlets cover bitcoin’s daily price fluctuations and the emerging blockchain industry on a daily basis.
Here’s a flashback to some of the more memorable, recent proclamations that “bitcoin is dead.”
Atulya Sarin, a finance professor at Santa Clara University, insists that bitcoin will never supplant gold as a store of value, so bitcoiners should just give it up already.
It appears bitcoin is now enteringa death spiral…bitcoin will quickly go to zero.
“I see bitcoin as adead man walking,”said Peter Mallouk, the president of Creative Planning, a Kansas investment firm.
The recent precipitous drop may be the beginning of its inevitable and inexorable death spiral.
Mallouk said future generations will read about bitcoin in finance textbooks as a cautionary tale about the dangers of delusional zealots “desperate to make a silk purse out of a sow’s ear.”
Environmentalists — who claim crypto mining is an existential threat to humankind — are breathlessly celebrating the bear market, saying it’s a sure sign that bitcoin is “will soonbe no more.”
Teen crypto millionaire Erik Finman said “bitcoin is dead” because it’s “too fragmented” and there’s too much infighting within the ecosystem.
“It may have a bull market or two left in it, but long-term, it’s dead,” Finmanpredicted.
Crypto entrepreneur Calvin Ayre — an advocate of Bitcoin Cash Satoshi Vision (SV) — predicts that the bitcoin price willplunge to zeroin 2019 because it’s worthless.
It has no utility. It does not do anything.
Ironically, Ayre claims that the original bitcoin is an impostor and that Bitcoin SV is the “real bitcoin.”
Despite these noisy protestations, bitcoin is still alive and kicking. Moreover, even its harshest critics have heaped praise on blockchain, the revolutionary technology underpinning crypto.
As 2018 draws to a close, many industry insiders are optimistic and confident that 2019 will be a blockbuster year ofunprecedented expansionfueled by a surge in institutional investments.
Early bitcoiners like the Winklevoss twins, Tyler and Cameron, are unfazed by the current market slump and are betting big on the long-term future of crypto.
As for bitcoin skeptics who can’t see its potential, Tyler Winklevoss said they merely suffer from an epic “failure of imagination.”
Happy holidays from CCN!
Featured image from Shutterstock.
The postBitcoin ‘Died’ 90 Times In 2018appeared first onCCN. || KuCoin Cryptocurrency Exchange Removes 10 Tokens As They Fail to Maintain Listing Criteria: Singaporean crypto exchange KuCoin has announced the delisting of 10 cryptocurrency projects under its Special Treatment Rule framework designed to ensure that only projects that meet and maintain certain criteria are listed on the platform. In an announcement posted on its official website on December 21, the exchange revealed that the affected digital assets will have deposit services halted at 20:00 (UTC+8) on December 21, 2018. Following this, trading pairs for the delisted cryptocurrencies will be halted at 18:00 (UTC+8) on December 24, 2018. Users will still be able to effect withdrawals of the delisted assets until 18:00 (UTC+8) on March 21, 2019. KuCoin Special Treatment Rule The affected cryptocurrencies are as follows: Jibrel Network (JNT) WePower (WPR) Modum (MOD) EthLend (LEND) STK (STK) Asch (XAS) Bread (BRD) BitClave (CAT) Mobius (MOBI) According to the announcement, the decision to delist the assets was made after completion of the latest phase of observation under the platform’s Special Treatment framework which exists to ensure that all listed cryptocurrencies meet certain minimum requirements regarding liquidity, roadmap adherence, market conduct, security and project solvency among other criteria. An excerpt from KuCoin’s Special Treatment statement reads: The Exchange may, during the observation period, decide to delist the ST Project if the Exchange believes the ST Project fails to take necessary actions to remedy the Negative Situation. Nevertheless, the Exchange reserves the right, in its sole discretion and without prior notice, to immediately delist the ST Project if the Exchange believes circumstances warrant so. According to the statement, projects may be delisted if they are observed to have low liquidity for a certain period of time or if they cease operations for a period of three months. Issues that can also disqualify a project from continued listing include failure to inform the exchange of material changes, failure to cooperate with the exchange for regular routine inspection, security failings, deviations from project whitepapers, lack of progress communication on the project’s website, and incomplete, misleading or untrue information disclosure. Story continues Other issues listed as deal breakers include project insolvency, involvement of project team members in questionable activities and investigations regarding illegal activities, wash trading, insider trading, market manipulation and any other situation that the platform deems risky for its customers or its reputation. Last month, CCN reported that KuCoin successfully completed a $20 million Series A funding round led by IDG Capital, Matrix Partners and Neo Global Capital as it seeks to boost expansion efforts following its $3 million investment in Bitcoin Australia as it seeks to grow its footprint across the Asia-Pacific region. Featured image from Shutterstock. The post KuCoin Cryptocurrency Exchange Removes 10 Tokens As They Fail to Maintain Listing Criteria appeared first on CCN . || KuCoin Cryptocurrency Exchange Removes 10 Tokens As They Fail to Maintain Listing Criteria: Singaporean crypto exchangeKuCoinhasannouncedthe delisting of 10 cryptocurrency projects under its Special Treatment Rule framework designed to ensure that only projects that meet and maintain certain criteria are listed on the platform. In an announcement posted on its official website on December 21, the exchange revealed that the affected digital assets will have deposit services halted at 20:00 (UTC+8) on December 21, 2018.
Following this, trading pairs for the delisted cryptocurrencies will be halted at 18:00 (UTC+8) on December 24, 2018. Users will still be able to effect withdrawals of the delisted assets until 18:00 (UTC+8) on March 21, 2019.
The affected cryptocurrencies are as follows:
• Jibrel Network (JNT)
• WePower (WPR)
• Modum (MOD)
• EthLend (LEND)
• STK (STK)
• Asch (XAS)
• Bread (BRD)
• BitClave (CAT)
• Mobius (MOBI)
According to the announcement, the decision to delist the assets was made after completion of the latest phase of observation under the platform’s Special Treatment framework which exists to ensure that all listed cryptocurrencies meet certain minimum requirements regarding liquidity, roadmap adherence, market conduct, security and project solvency among other criteria.
An excerpt from KuCoin’sSpecial Treatmentstatement reads:
The Exchange may, during the observation period, decide to delist the ST Project if the Exchange believes the ST Project fails to take necessary actions to remedy the Negative Situation. Nevertheless, the Exchange reserves the right, in its sole discretion and without prior notice, to immediately delist the ST Project if the Exchange believes circumstances warrant so.
According to the statement, projects may be delisted if they are observed to have low liquidity for a certain period of time or if they cease operations for a period of three months. Issues that can also disqualify a project from continued listing include failure to inform the exchange of material changes, failure to cooperate with the exchange for regular routine inspection, security failings, deviations from project whitepapers, lack of progress communication on the project’s website, and incomplete, misleading or untrue information disclosure.
Other issues listed as deal breakers include project insolvency, involvement of project team members in questionable activities and investigations regarding illegal activities, wash trading, insider trading, market manipulation and any other situation that the platform deems risky for its customers or its reputation.
Last month, CCNreportedthat KuCoin successfully completed a $20 million Series A funding round led by IDG Capital, Matrix Partners and Neo Global Capital as it seeks to boost expansion efforts following its $3 millioninvestmentin Bitcoin Australia as it seeks to grow its footprint across the Asia-Pacific region.
Featured image from Shutterstock.
The postKuCoin Cryptocurrency Exchange Removes 10 Tokens As They Fail to Maintain Listing Criteriaappeared first onCCN. || Smart Contracts are What is Needed for Alternatives to Patreon: Craig Wright: The chief scientist of blockchain firm nChain,Craig Wright,has indicated that Bitcoin could one day emerge as a major means of making automated payments for subscription services, similar to Patreon.
Asked by YouTuber ‘Philosophie Workout’ whether it would be possible to pay for subscription services such as Patreon on a regular basis, Wright answered in the affirmative. According to Wright this would require the use of smart contracts. Wright said:
What we need are people creating new apps, new smart contracts, new formats…
nChain’s chief scientist then added that with pre-signed transactions on Bitcoin it is possible for subscribers to automate the payments they need to make to subscription services allowing content creators to benefit from the work.
Wright also dismissed those who have previously said that this is an impossible task.
It can’t be done, people say. Well, of course it can. You just need to have a different template. I need to have one where it is signed to you so I pay 0.1 BTC every month. Or I can have a tokenized amount of US dollars that get paid to you every month or bitcoin. All these things are possible. But someone just needs to start thinking that they are possible and allowable…
This comes less than a month since Bitcoin SV (Satoshi Vision), which is backed by Wright, split from Bitcoin Cash. ThenChainchief scientist indicated that the in two years Bitcoin SV will be processing terabyte-sized blocks.
Wright prefers increasing block sizes as a scaling solution and has been vehemently opposed to other workarounds such as Lightning Network that take transactions off-chain.
Last month Wright criticizedLightning Networkand claimed that thescaling solution has a major weaknesswhich will surface in 2019. On live radio, Wright accused the proponents of the Lightning Network of ignoring the ‘routing problem’ (essentially low success rates for transactions as the amount gets larger):
It’s a joke. That’s an easy way to put it. I mean, they keep ignoring the fact that the routing problem is actually insurmountable. You’ll never get around it. And worse than that, it has a major flaw that will be discovered next year.
Lightning Network’s routing problem received prominent media coverage mid this year following areportby digital assets newsletter Diar. According to the study, when sending a payment of a few dollars the probability of success is 70% while when the amounts are under 200% the probability of success falls dramatically to 1%.
Featured image from Shutterstock.
The postSmart Contracts are What is Needed for Alternatives to Patreon: Craig Wrightappeared first onCCN. || Smart Contracts are What is Needed for Alternatives to Patreon: Craig Wright: The chief scientist of blockchain firm nChain, Craig Wright, has indicated that Bitcoin could one day emerge as a major means of making automated payments for subscription services, similar to Patreon. Asked by YouTuber ‘Philosophie Workout’ whether it would be possible to pay for subscription services such as Patreon on a regular basis, Wright answered in the affirmative. According to Wright this would require the use of smart contracts. Wright said: What we need are people creating new apps, new smart contracts, new formats… nChain’s chief scientist then added that with pre-signed transactions on Bitcoin it is possible for subscribers to automate the payments they need to make to subscription services allowing content creators to benefit from the work. Why Not? Wright also dismissed those who have previously said that this is an impossible task. It can’t be done, people say. Well, of course it can. You just need to have a different template. I need to have one where it is signed to you so I pay 0.1 BTC every month. Or I can have a tokenized amount of US dollars that get paid to you every month or bitcoin. All these things are possible. But someone just needs to start thinking that they are possible and allowable… This comes less than a month since Bitcoin SV (Satoshi Vision), which is backed by Wright, split from Bitcoin Cash. The nChain chief scientist indicated that the in two years Bitcoin SV will be processing terabyte-sized blocks. Craig Wright Claims Bitcoin SV Will Process 1TB Blocks in Two Years https://t.co/Esjepom8Ub — CCN (@CryptoCoinsNews) December 2, 2018 Wright prefers increasing block sizes as a scaling solution and has been vehemently opposed to other workarounds such as Lightning Network that take transactions off-chain. Lightning Network’s Routing Problem Last month Wright criticized Lightning Network and claimed that the scaling solution has a major weakness which will surface in 2019. On live radio, Wright accused the proponents of the Lightning Network of ignoring the ‘routing problem’ (essentially low success rates for transactions as the amount gets larger): Story continues It’s a joke. That’s an easy way to put it. I mean, they keep ignoring the fact that the routing problem is actually insurmountable. You’ll never get around it. And worse than that, it has a major flaw that will be discovered next year. Lightning Network’s routing problem received prominent media coverage mid this year following a report by digital assets newsletter Diar. According to the study, when sending a payment of a few dollars the probability of success is 70% while when the amounts are under 200% the probability of success falls dramatically to 1%. Featured image from Shutterstock. The post Smart Contracts are What is Needed for Alternatives to Patreon: Craig Wright appeared first on CCN . || Energy Annual Market Recap 2018: The Energy markets experienced a wild ride in 2018. Prices of petroleum which includes WTI, Brent and Gasoline surged higher throughout the year only to drop significantly into the holiday season. Natural gas prices were depressed but then spiked as inventories tumbled and cold weather buoyed demand. There were several traders that were caught offsides which enhanced the moves in both petroleum and natural gas. Looking forward, natural gas prices could continue to move higher while petroleum prices are searching for a bottom. Petroleum Market Recap Investors expected 2018 to be a volatile year as OPEC announced in 2017 that they would cap production until the end of 2018. The key swing producer was the United States which had been producing approximately 9.7 million barrels a day of crude oil in December of 2017. While many analysts believed that the US would increase production in 2018, few saw the huge increase the markets are currently experiencing. Production Surges OPEC Cuts, Iran Sanctions WTI crude oil began 2018 near $60 dollars per barrel and ground higher making its way to $76.90 by October 2018. The rise was due to several factors including declining inventories in the United States, as well as, fears that sanction on Iran would take 1.5-million barrels a day off the market. Brent crude oil which is more of a global benchmark relative to US West Texas Intermediate (WTI), hit a high of $86.72 in October, and during the Q4 of 2018 tumbled into the low $50s. A combination of factors including both supply and demand conspired to erode the price of crude oil. WTI Crude Oil Weekly Chart Supply from the United States was a key factor in generating production levels that weighed on crude oil prices. US shale producers increased US production from 9.7-million barrels a day in January 2018 up to 11.7-million barrels a day by early November. The 20% increase was driven by higher prices, which attracted new production, as well as, the lure of capturing market share. Story continues During the Q3 of 2018, the US announced that it would reinstate sanction against Iran after the administration decided to pull out of the Iran nuclear program. During his campaign, President Trump stated that he felt the Iran nuclear agreement was a horrible deal for the United States and he planned on tearing it up when he had the chance. This came despite calls from European and Asian allies to hold on to the deal, which put the US and its allies at odds. Iranian Sanctions Initially Lift Crude Oil The reintroduction of Iranian sanction initially lifted the crude oil markets. The sanction would create a situation where buyers of Iranian oil would no longer be able to purchase use Iran as a supplier if they wanted to continue to trade with the United States. Expectations where that the loss of Iranian crude oil would take approximately 1.5-million barrels a day of crude oil off the market. To counter this reduction in production US E&P companies began to quickly increase the amount of crude oil they were generating. By the end of September of 2018, US domestic crude oil production had reached 11.1 million barrels a day. Ahead of the November 5, deadline when sanction went into effect, US crude oil production had reached a staggering 11.7 million barrels a day. What occurred next was devastating to the crude oil markets. In the November as the deadline for sanction occurred, the Trump administration announced they would provide waivers to nearly all purchasers of Iranian crude oil. All at one time supply was much greater than demand which was already beginning to slip at the Trump tariffs took hold and reduced growth. OPEC has since reduced output by 1.2-million barrels a day but the damage to crude oil prices continues. Natural Gas Surge to Multi-Year Highs Natural gas prices started 2018 on a high note rallying in January as fears of colder than normal weather drove prices up. Inventories were average, and when the cold weather did not persist, traders turned their attention to production. US natural gas production surged in tandem with oil production and increased steadily throughout 2018. A new outlook for gas consumption took hold as companies began to accelerate their exports of Liquid Natural Gas (LNG). LNG Exports LNG terminals accelerated their activity and experienced an uptick in volume during 2018. Demand for natural gas in Asian and Europe had provided the backdrop for accelerating US exports. The increase in exports has led to a decline in inventories which set the stage for a natural gas squeeze. The Energy Information Administration estimates that working natural gas in storage is well below its 5-year average range for this time of year. Builds of natural gas inventories slowed in late spring as exports of LNG accelerated. By the summer of 2018, natural gas inventories were below the 5-year average range, and not accelerated at their normal rage. Production remained strong and was growing so prices continued to trade sideways. News in the market that hedge funds where short natural gas, was a cue that prices could squeeze higher if a cold weather forecast during the withdrawal season came to pass. Many believe the big trade in the market was a pair trade where hedge funds where long crude oil and short natural gas. In the Q4 prices began to accelerate as it became clear that the weather during November would be colder than normal. With inventories well below the 5-year average range, prices began to climb. Prices squeezed up to $4.92 per MMBtu, a 77% climb from the lows hit in February. Looking forward price action remains volatile and have dropped 29% since hitting their highs. Warmer than normal weather was forecast to cover the US in mid-December which weighed on prices. Inventories remain well below the 5-year average range and robust levels of LNG exports are keeping inventories low. With inventories below the 5-year average range, the target for 2019 could be the 5-year high which is near $6.0 per MMBtu. High levels of export have changed the dynamic for natural gas. If LNG picks up, production will likely be accelerated keeping prices capped domestically. Natural gas is priced relative to oil outside the US providing a large cushion for US LNG exporters. Volatility will also likely continue to remain especially during the Q1 of 2019. This article was originally posted on FX Empire More From FXEMPIRE: Energy Annual Market Recap 2018 USD/JPY Price Forecast US dollar continues to drift lower Bitcoin The Bears Surface for the Holidays EUR/USD Price Forecast Euro bounces slightly during holiday trading Silver Price Forecast Silver markets continue to grind sideways Live Market Trading Strategies Webinar January 15 || Energy Annual Market Recap 2018: The Energy markets experienced a wild ride in 2018. Prices of petroleum which includes WTI, Brent and Gasoline surged higher throughout the year only to drop significantly into the holiday season. Natural gas prices were depressed but then spiked as inventories tumbled and cold weather buoyed demand. There were several traders that were caught offsides which enhanced the moves in both petroleum and natural gas. Looking forward, natural gas prices could continue to move higher while petroleum prices are searching for a bottom. Petroleum Market Recap Investors expected 2018 to be a volatile year as OPEC announced in 2017 that they would cap production until the end of 2018. The key swing producer was the United States which had been producing approximately 9.7 million barrels a day of crude oil in December of 2017. While many analysts believed that the US would increase production in 2018, few saw the huge increase the markets are currently experiencing. Production Surges OPEC Cuts, Iran Sanctions WTI crude oil began 2018 near $60 dollars per barrel and ground higher making its way to $76.90 by October 2018. The rise was due to several factors including declining inventories in the United States, as well as, fears that sanction on Iran would take 1.5-million barrels a day off the market. Brent crude oil which is more of a global benchmark relative to US West Texas Intermediate (WTI), hit a high of $86.72 in October, and during the Q4 of 2018 tumbled into the low $50s. A combination of factors including both supply and demand conspired to erode the price of crude oil. WTI Crude Oil Weekly Chart Supply from the United States was a key factor in generating production levels that weighed on crude oil prices. US shale producers increased US production from 9.7-million barrels a day in January 2018 up to 11.7-million barrels a day by early November. The 20% increase was driven by higher prices, which attracted new production, as well as, the lure of capturing market share. Story continues During the Q3 of 2018, the US announced that it would reinstate sanction against Iran after the administration decided to pull out of the Iran nuclear program. During his campaign, President Trump stated that he felt the Iran nuclear agreement was a horrible deal for the United States and he planned on tearing it up when he had the chance. This came despite calls from European and Asian allies to hold on to the deal, which put the US and its allies at odds. Iranian Sanctions Initially Lift Crude Oil The reintroduction of Iranian sanction initially lifted the crude oil markets. The sanction would create a situation where buyers of Iranian oil would no longer be able to purchase use Iran as a supplier if they wanted to continue to trade with the United States. Expectations where that the loss of Iranian crude oil would take approximately 1.5-million barrels a day of crude oil off the market. To counter this reduction in production US E&P companies began to quickly increase the amount of crude oil they were generating. By the end of September of 2018, US domestic crude oil production had reached 11.1 million barrels a day. Ahead of the November 5, deadline when sanction went into effect, US crude oil production had reached a staggering 11.7 million barrels a day. What occurred next was devastating to the crude oil markets. In the November as the deadline for sanction occurred, the Trump administration announced they would provide waivers to nearly all purchasers of Iranian crude oil. All at one time supply was much greater than demand which was already beginning to slip at the Trump tariffs took hold and reduced growth. OPEC has since reduced output by 1.2-million barrels a day but the damage to crude oil prices continues. Natural Gas Surge to Multi-Year Highs Natural gas prices started 2018 on a high note rallying in January as fears of colder than normal weather drove prices up. Inventories were average, and when the cold weather did not persist, traders turned their attention to production. US natural gas production surged in tandem with oil production and increased steadily throughout 2018. A new outlook for gas consumption took hold as companies began to accelerate their exports of Liquid Natural Gas (LNG). LNG Exports LNG terminals accelerated their activity and experienced an uptick in volume during 2018. Demand for natural gas in Asian and Europe had provided the backdrop for accelerating US exports. The increase in exports has led to a decline in inventories which set the stage for a natural gas squeeze. The Energy Information Administration estimates that working natural gas in storage is well below its 5-year average range for this time of year. Builds of natural gas inventories slowed in late spring as exports of LNG accelerated. By the summer of 2018, natural gas inventories were below the 5-year average range, and not accelerated at their normal rage. Production remained strong and was growing so prices continued to trade sideways. News in the market that hedge funds where short natural gas, was a cue that prices could squeeze higher if a cold weather forecast during the withdrawal season came to pass. Many believe the big trade in the market was a pair trade where hedge funds where long crude oil and short natural gas. In the Q4 prices began to accelerate as it became clear that the weather during November would be colder than normal. With inventories well below the 5-year average range, prices began to climb. Prices squeezed up to $4.92 per MMBtu, a 77% climb from the lows hit in February. Looking forward price action remains volatile and have dropped 29% since hitting their highs. Warmer than normal weather was forecast to cover the US in mid-December which weighed on prices. Inventories remain well below the 5-year average range and robust levels of LNG exports are keeping inventories low. With inventories below the 5-year average range, the target for 2019 could be the 5-year high which is near $6.0 per MMBtu. High levels of export have changed the dynamic for natural gas. If LNG picks up, production will likely be accelerated keeping prices capped domestically. Natural gas is priced relative to oil outside the US providing a large cushion for US LNG exporters. Volatility will also likely continue to remain especially during the Q1 of 2019. This article was originally posted on FX Empire More From FXEMPIRE: Energy Annual Market Recap 2018 USD/JPY Price Forecast US dollar continues to drift lower Bitcoin The Bears Surface for the Holidays EUR/USD Price Forecast Euro bounces slightly during holiday trading Silver Price Forecast Silver markets continue to grind sideways Live Market Trading Strategies Webinar January 15 || Crypto Market Added $45 Billion in 10 Days, is Bitcoin Close to a Bottom?: Since December 15, within a ten-day span, the cryptocurrency market added $45 billion to its valuation as Bitcoin surpassed $4,200. Many analysts are generally positive on the short-term price trend of Bitcoin heading towards the year’s end, confident that the dominant cryptocurrency has established a bottom. Prospect of Bitcoin Currently, Bitcoin and the vast majority of cryptocurrencies are undoubtedly in a bear market. From its all-time high, the Bitcoin price is still down 79 percent and other major crypto assets such as Ethereum (ETH) and Ripple (XRP) are down around 89 percent from their all-time highs. On December 23, as the Ethereum price surged by more than 51 percent against the U.S. dollar, Alex Kruger, an economist and a cryptocurrency trader, said : 7 days ago ETH was down 94% from all time highs. Now, after a 52% increase in 7 days, ETH is only down 91% from all time highs. For investors to reasonably believe that cryptocurrencies are no longer in a bear market, digital assets would have to increase by over 20 to 30 percent against the USD. Bitcoin, for instance, is currently valued at around $4,200 on fiat-to-cryptocurrency exchanges. While the asset has broken out of several resistance levels above $4,000, a breakout of $5,000 is important to confirm a proper bullish price movement, as analyst Willy Woo explained earlier this month. “Be aware the above scenario is contingent on a bounce upwards to test low $5,000s. Currently, the short term price action is consolidating into a wedge with hidden accumulation (according to the OBV indicator), this suggest there is more probability of an up move from here,” Woo explained when the price of Bitcoin hovered at around $3,500. $3,120, the lowest point Bitcoin reached in 2018, could have been its bottom, capped at an 84 percent decline from its all-time high. However, to confirm a full trend reversal, the asset would have to show strength throughout the first quarter of 2019, demonstrating several months of consolidation and accumulation. Story continues It could be said that the crypto market has achieved a bottom, as Ethereum co-creator Joseph Lubin emphasized, but it is too early to conclude that the bear market of cryptocurrencies has come to an end. Still, the strong corrective rally of major digital assets has relieved significant pressure from the cryptocurrency market, increasing the probability of a potential trend reversal and positive price movements over the Christmas season. 45 Percent Up Since mid-December, the cryptocurrency market has recorded an increase in valuation from $100 billion to $145 billion, by 45 percent. However, in a grand scheme of things, the cryptocurrency market has not even reached November levels, when the valuation of the market was hovering at $220 billion. The market would need to rebound by 51 percent to recover to $220 billion. With several positive industry-related developments including the launch of the Bakkt Bitcoin futures market in January, investors in the market are anticipating a solid price movement throughout the first two months of 2019. Featured image from Shutterstock. The post Crypto Market Added $45 Billion in 10 Days, is Bitcoin Close to a Bottom? appeared first on CCN .
[Social Media Buzz]
2018/12/26 14:00
#Binance 格安コイン
1位 #HOT 0.00000012 BTC(0.05円)
2位 #NPXS 0.00000014 BTC(0.06円)
3位 #BCN 0.00000022 BTC(0.09円)
4位 #DENT 0.00000030 BTC(0.13円)
5位 #NCASH 0.00000052 BTC(0.22円)
#仮想通貨 #アルトコイン #草コイン || 26 Dec 2018 - 10:30:00-Mining monero with time break #monero #monerocoin #bitcoin #mining https://m-aybs.blogspot.com/2018/12/mine-monero-with-time-break.html?m=1 … || 2018/12/27 03:00
BTC 417770円
ETH 14060円
ETC 563.4円
BCH 18925.2円
XRP 40.7円
XEM 7.5円
LSK 156.2円
MONA 74.4円
#仮想通貨 #ビットコイン #...
|
3654.83, 3923.92, 3820.41, 3865.95, 3742.70, 3843.52, 3943.41, 3836.74, 3857.72, 3845.19
|
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 17150.62, 17108.40, 17717.41, 18177.48, 19625.84, 18803.00, 19201.09, 19445.40, 18699.77, 19154.23, 19345.12, 19191.63, 18321.14, 18553.92, 18264.99, 18058.90, 18803.66, 19142.38, 19246.64, 19417.08, 21310.60, 22805.16, 23137.96, 23869.83, 23477.29, 22803.08, 23783.03, 23241.35, 23735.95, 24664.79, 26437.04, 26272.29, 27084.81, 27362.44, 28840.95, 29001.72, 29374.15, 32127.27, 32782.02, 31971.91, 33992.43, 36824.36, 39371.04, 40797.61, 40254.55, 38356.44, 35566.66, 33922.96, 37316.36, 39187.33, 36825.37, 36178.14, 35791.28, 36630.07, 36069.80, 35547.75, 30825.70, 33005.76, 32067.64, 32289.38, 32366.39, 32569.85, 30432.55, 33466.10, 34316.39, 34269.52, 33114.36, 33537.18, 35510.29, 37472.09, 36926.07, 38144.31, 39266.01, 38903.44, 46196.46, 46481.11, 44918.18, 47909.33, 47504.85, 47105.52, 48717.29, 47945.06, 49199.87, 52149.01, 51679.80, 55888.13, 56099.52, 57539.95, 54207.32, 48824.43.
|
[Bitcoin Technical Analysis for 2021-02-23]
Volume: 106102492824, RSI (14-day): 55.36, 50-day EMA: 40926.69, 200-day EMA: 25545.01
[Wider Market Context]
Gold Price: 1804.40, Gold RSI: 44.73
Oil Price: 61.67, Oil RSI: 74.64
[Recent News (last 7 days)]
Tesla, Square Make $5B On Bitcoin Investment While Small Cap Crypto Stocks Surge: What Happened:Tesla Inc(NASDAQ:TSLA) andSquare Inc(NYSE:SQ) are already up over $5 billion on their Bitcoin investments.
According to the data from Bitcoin Treasuries, the two companies have spent over $3 billion to acquire 151,919 BTC, which is now valued at over $8 billion.
Why It Matters:Tesla bought 48,000 BTC for $1.5 billion and has recorded a gain of over 70% on its Bitcoin investment which now amounts to $2.5 billion.
See also: How to Buy Bitcoin (BTC)
This return somewhat pales compared toMicroStrategy’s(NASDAQ:MSTR) investment of $1.15 billion that is now worth $3.9 billion.
The company's share price surged by over 500% since the announcement of its initial Bitcoin purchase, after it had remained relatively flat for five years.
The fact that the business intelligence company’s market value is so contingent on BTC price movements has led many analysts to say that MicroStrategy’s stock effectively functions as a Bitcoin ETF.
Conversely, companies like Square and Tesla haven't seen their stock price overly influenced by the underlying price of Bitcoin.
What Else:Somewhat confirming the hypothesis that smaller market cap stocks are more dependent on their Bitcoin purchase to add value to their price areVoyager Digital Ltd(CNSX: VYGR),Riot Blockchain Inc(NASDAQ:RIOT), andMarathon Patent Group Inc(NASDAQ:MARA).
Marathon has rallied over 4000%, while Riot and Voyager have surged over 5000% over the past year.
Image: Austin Distel via Unsplash
See more from Benzinga
• Click here for options trades from Benzinga
• Barclays Investment Chief Compares Bitcoin To 'Flightless Bird'
• Why Another March Crash Is Not Likely For Bitcoin
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Tesla, Square Make $5B On Bitcoin Investment While Small Cap Crypto Stocks Surge: What Happened: Tesla Inc (NASDAQ: TSLA ) and Square Inc (NYSE: SQ ) are already up over $5 billion on their Bitcoin investments. According to the data from Bitcoin Treasuries, the two companies have spent over $3 billion to acquire 151,919 BTC, which is now valued at over $8 billion. Why It Matters: Tesla bought 48,000 BTC for $1.5 billion and has recorded a gain of over 70% on its Bitcoin investment which now amounts to $2.5 billion. See also: How to Buy Bitcoin (BTC) This return somewhat pales compared to MicroStrategys (NASDAQ: MSTR ) investment of $1.15 billion that is now worth $3.9 billion. The company's share price surged by over 500% since the announcement of its initial Bitcoin purchase, after it had remained relatively flat for five years. At this point is MicroStrategy just going to file as a bitcoin ETF John Todaro (@JohnTodaro1) February 17, 2021 The fact that the business intelligence companys market value is so contingent on BTC price movements has led many analysts to say that MicroStrategys stock effectively functions as a Bitcoin ETF. Conversely, companies like Square and Tesla haven't seen their stock price overly influenced by the underlying price of Bitcoin. What Else: Somewhat confirming the hypothesis that smaller market cap stocks are more dependent on their Bitcoin purchase to add value to their price are Voyager Digital Ltd (CNSX: VYGR), Riot Blockchain Inc (NASDAQ: RIOT ), and Marathon Patent Group Inc (NASDAQ: MARA ). Marathon has rallied over 4000%, while Riot and Voyager have surged over 5000% over the past year. Image: Austin Distel via Unsplash See more from Benzinga Click here for options trades from Benzinga Barclays Investment Chief Compares Bitcoin To 'Flightless Bird' Why Another March Crash Is Not Likely For Bitcoin © 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Tesla, Square Make $5B On Bitcoin Investment While Small Cap Crypto Stocks Surge: What Happened:Tesla Inc(NASDAQ:TSLA) andSquare Inc(NYSE:SQ) are already up over $5 billion on their Bitcoin investments.
According to the data from Bitcoin Treasuries, the two companies have spent over $3 billion to acquire 151,919 BTC, which is now valued at over $8 billion.
Why It Matters:Tesla bought 48,000 BTC for $1.5 billion and has recorded a gain of over 70% on its Bitcoin investment which now amounts to $2.5 billion.
See also: How to Buy Bitcoin (BTC)
This return somewhat pales compared toMicroStrategy’s(NASDAQ:MSTR) investment of $1.15 billion that is now worth $3.9 billion.
The company's share price surged by over 500% since the announcement of its initial Bitcoin purchase, after it had remained relatively flat for five years.
The fact that the business intelligence company’s market value is so contingent on BTC price movements has led many analysts to say that MicroStrategy’s stock effectively functions as a Bitcoin ETF.
Conversely, companies like Square and Tesla haven't seen their stock price overly influenced by the underlying price of Bitcoin.
What Else:Somewhat confirming the hypothesis that smaller market cap stocks are more dependent on their Bitcoin purchase to add value to their price areVoyager Digital Ltd(CNSX: VYGR),Riot Blockchain Inc(NASDAQ:RIOT), andMarathon Patent Group Inc(NASDAQ:MARA).
Marathon has rallied over 4000%, while Riot and Voyager have surged over 5000% over the past year.
Image: Austin Distel via Unsplash
See more from Benzinga
• Click here for options trades from Benzinga
• Barclays Investment Chief Compares Bitcoin To 'Flightless Bird'
• Why Another March Crash Is Not Likely For Bitcoin
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Bitcoin Trades in Record $11K Daily Range After Dropping From $58K: Bitcoin traded within a record-setting $10,877 range Monday after plummeting from its all-time highs above $58,000 set over the weekend. This marks the leading cryptocurrency’s first five-figure daily price range.
• Bitcoin dropped from its Monday high of $57,577 on Coinbase to a low of $46,700 before rebounding to pare most of its losses toward the end of the day, trading above $53,500 at last check.
• So far in 2021,bitcoin‘s average daily price range is $3,765, per market data analyzed by CoinDesk, well below Monday’s record range.
• Monday’s sharp correction and large range was not a surprise to some analysts. “The market hasn’t seen a pullback like this since early January. With this level of leverage in the system, many had considered it to be overdue,” said Coin Metrics data scientist Jon Geenty in a private message with CoinDesk.
• “This move can largely be attributed to record open interest in the futures markets and the liquidation that tend to follow,” Geenty told CoinDesk.
• Before Monday’s correction, FTX CEO Sam Bankman-Fried described the cryptocurrency market as “massively over-leveraged” in aninterviewwith The Block.
• Year to date, bitcoin has gained 83%, continuing its more than 300% rally in 2020.
• Bitcoin Trades in Record $11K Daily Range After Dropping From $58K
• Bitcoin Trades in Record $11K Daily Range After Dropping From $58K
• Bitcoin Trades in Record $11K Daily Range After Dropping From $58K
• Bitcoin Trades in Record $11K Daily Range After Dropping From $58K || Bitcoin Trades in Record $11K Daily Range After Dropping From $58K: Bitcoin traded within a record-setting $10,877 range Monday after plummeting from its all-time highs above $58,000 set over the weekend. This marks the leading cryptocurrency’s first five-figure daily price range.
• Bitcoin dropped from its Monday high of $57,577 on Coinbase to a low of $46,700 before rebounding to pare most of its losses toward the end of the day, trading above $53,500 at last check.
• So far in 2021,bitcoin‘s average daily price range is $3,765, per market data analyzed by CoinDesk, well below Monday’s record range.
• Monday’s sharp correction and large range was not a surprise to some analysts. “The market hasn’t seen a pullback like this since early January. With this level of leverage in the system, many had considered it to be overdue,” said Coin Metrics data scientist Jon Geenty in a private message with CoinDesk.
• “This move can largely be attributed to record open interest in the futures markets and the liquidation that tend to follow,” Geenty told CoinDesk.
• Before Monday’s correction, FTX CEO Sam Bankman-Fried described the cryptocurrency market as “massively over-leveraged” in aninterviewwith The Block.
• Year to date, bitcoin has gained 83%, continuing its more than 300% rally in 2020.
• Bitcoin Trades in Record $11K Daily Range After Dropping From $58K
• Bitcoin Trades in Record $11K Daily Range After Dropping From $58K
• Bitcoin Trades in Record $11K Daily Range After Dropping From $58K
• Bitcoin Trades in Record $11K Daily Range After Dropping From $58K || Bitcoin Trades in Record $11K Daily Range After Dropping From $58K: Bitcoin traded within a record-setting $10,877 range Monday after plummeting from its all-time highs above $58,000 set over the weekend. This marks the leading cryptocurrencys first five-figure daily price range. Bitcoin dropped from its Monday high of $57,577 on Coinbase to a low of $46,700 before rebounding to pare most of its losses toward the end of the day, trading above $53,500 at last check. So far in 2021, bitcoin s average daily price range is $3,765, per market data analyzed by CoinDesk, well below Mondays record range. Mondays sharp correction and large range was not a surprise to some analysts. The market hasnt seen a pullback like this since early January. With this level of leverage in the system, many had considered it to be overdue, said Coin Metrics data scientist Jon Geenty in a private message with CoinDesk. This move can largely be attributed to record open interest in the futures markets and the liquidation that tend to follow, Geenty told CoinDesk. Before Mondays correction, FTX CEO Sam Bankman-Fried described the cryptocurrency market as massively over-leveraged in an interview with The Block. Year to date, bitcoin has gained 83%, continuing its more than 300% rally in 2020. Related Stories Bitcoin Trades in Record $11K Daily Range After Dropping From $58K Bitcoin Trades in Record $11K Daily Range After Dropping From $58K Bitcoin Trades in Record $11K Daily Range After Dropping From $58K Bitcoin Trades in Record $11K Daily Range After Dropping From $58K || No place is safe from failing US infrastructure: In the faceof rising homelessness, increasing crime and inadequate public transit in San Francisco, many tech influencers are pulling up stakes to geographies that offer a seemingly more welcome climate to conduct business and make investments. But the ongoing disaster in Texas makes one cold truth very clear: No place is safe from America's failure to invest in infrastructure or take climate change seriously.
The shock of seeing the cradle of America's energy industry crippled by its inability to prepare its own power grid for the "once in a century storms" that increasingly look to be coming every 10 years (a phenomenon that Texas Tech climate scientist Katherine Hayhoe calls "global weirding") underscores a point that should have been plain years ago: By refusing to invest in adequate public infrastructure, the country's leadership has failed to perform the basic duty of protecting the health and safety of its citizens.
And the shocks that result from these investment failures will affect anyone without the means or desire to leave the country entirely.
This failure reaches from the woefully inept response to the COVID-19 pandemic, which is on track to kill half a million people in the U.S., to the millions across the country who faced a week without adequate heat, water and sometimes even food or shelter from the bitter cold bearing down on the nation.
The catastrophe also crystallizes the inanity of many of the issues currently consuming the technology community that holds itself in such high esteem as a pillar of rational discourse and as the architects of America's future.
The investors who decried California's broken, over-regulated dystopia, are now trying to change their ZIP codes for broken,under-regulated dystopias.
The problem is that they're moving without confronting the substantive issues that make these regions unlivable for large portions of the population. And that's caused by a historic failure to engage in any politics that isn't directly tied to the bottom line of the corporations these entrepreneurs have created or their investors have financed.
As Michael Solana, a vice president at Founders Fund,noted in a great piece on his Pirate Wires Substack:
The truth is, had tech workers actually assumed a significant measure of political influence, and led in local politics, San Francisco would today be one of the greatest cities in the world. But not only was such political influence not achieved, it was never attempted. Throughout the most recent technology boom of the last fifteen years, there has been almost no meaningful engagement in local politics from the industry.
Not that the deregulatory streak prized by many in the tech community would have solved Texas's problem or Florida's (California is a different kind of disaster).
In Texas, lack of regulations around construction and the state's independent energy grid have made it more vulnerable to catastrophic climactic events --whether that's 2017's Hurricane Harveyor this year's deadly winter storms,which killed Texans in their homes, vehicles and backyards.
After Harvey, ignore the climate debate and focus on building better, more efficient cities
California can claim that its grid failed by fewer megawatts than Texas's -- but the overall result from the natural disasters, blackouts, billions of dollars lost and scores of deaths are much the same.
Surveying this broken world, many in the tech community have decided that the best result is to try the same thing somewhere else. But they're going to face many of the same problems in Florida or Texas.
Homeowners concerned about construction lowering the value of their properties?Check. Rampant income inequality?Check. Reluctance to put in effective oversight that could ensure failures don't occur?Check.
The difference those states offer is lower taxes for the wealthy, which means more of an ability to pay privately for the services to ensure that the burdens of climate change don't fall on these billionaires in their new waterfront homes.
The through-line in all of this is a cynicism and abdication of responsibility papered over by the thinnest lips paying the smallest amount of service to solving climate problems.
Don't think that I'm merely being cynical about what some tech companies are doing when confronted with the rising catastrophe of climate change and decrepit American infrastructure.
Why else would Elon Musk commit $100 million to a carbon capture prize while his publicly traded energy company invests $1.5 billion in bitcoin? Some analysts estimate that the deal and the resulting skyrocketing price of the cryptocurrency will erase all of the gains in emissions offsets from the use of every Tesla ever made.
Tesla buys $1.5B in bitcoin, may accept the cryptocurrency as payment in the future
"The immediate impact of Tesla’s buy is that the Bitcoin price went up by more than $5,000. We can estimate this will lead to the network consuming an additional 34 TWh of electrical energy per year. That’s about the size of a country like Denmark’s total annual electrical energy requirement. We can also estimate this will result in an additional 17 million metric tons of CO2 being put out by the network every year," wrote Alex de Vries,the founder of the cryptocurrency analysis site, Digiconomist. "According to Tesla,the amount of CO2 saved by Tesla vehicles adds up to 3.7 million tons. The amount of additional CO2 produced by the Bitcoin network, as a result of Tesla’s buy, would thus amount to more than four times the amount of CO2 saved by all their vehicles to date."
Some argue that bitcoin mining uses a disproportional amount of renewable energy to produce the cryptocurrency, but that argument is complicated by the seasonal sources of some renewables that miners (especially Chinese miners who produce the bulk of bitcoin) rely on for power.
Tesla could potentially make more money from that investment than it has from the sale of cars, and has definitely boosted the emissions-spewing mining processes that make Bitcoin's digital printers go brrrrr. All of which makes the company's commitment to combating climate change look a bit specious.
Tesla’s Bitcoin investment could be bad for the company’s climate reputation and its bottom line
The most frustrating thing about all of this is that entrepreneurs and investors are working on solutions to the climate crisis. Technologies exist that can help address some of the issues that confront these cities. And there's billions to be made solving something that is very much an existential problem.
Unfortunately, unlocking those billions in a time frame that's viable for society's survival is going to require policy movement and the type of engagement that many tech investors would rather hand off to someone else as they move to more temperate, and tax advantaged, climates.
With the waters rising and the temperatures dropping, maybe those tax savings can buy a nice microgrid for power or a bigger boat. Given the projections thatput the cost of climate change at nearly half a trillion dollarsannually by the end of the century, it'd have to bea pretty big boat.
New US report says that climate change could cost nearly $500B per year by 2090 || No place is safe from failing US infrastructure: In the face of rising homelessness, increasing crime and inadequate public transit in San Francisco, many tech influencers are pulling up stakes to geographies that offer a seemingly more welcome climate to conduct business and make investments. But the ongoing disaster in Texas makes one cold truth very clear: No place is safe from America's failure to invest in infrastructure or take climate change seriously. The shock of seeing the cradle of America's energy industry crippled by its inability to prepare its own power grid for the "once in a century storms" that increasingly look to be coming every 10 years ( a phenomenon that Texas Tech climate scientist Katherine Hayhoe calls "global weirding" ) underscores a point that should have been plain years ago: By refusing to invest in adequate public infrastructure, the country's leadership has failed to perform the basic duty of protecting the health and safety of its citizens. And the shocks that result from these investment failures will affect anyone without the means or desire to leave the country entirely. Decline This failure reaches from the woefully inept response to the COVID-19 pandemic, which is on track to kill half a million people in the U.S., to the millions across the country who faced a week without adequate heat, water and sometimes even food or shelter from the bitter cold bearing down on the nation. The catastrophe also crystallizes the inanity of many of the issues currently consuming the technology community that holds itself in such high esteem as a pillar of rational discourse and as the architects of America's future. The investors who decried California's broken, over-regulated dystopia, are now trying to change their ZIP codes for broken, under -regulated dystopias. The problem is that they're moving without confronting the substantive issues that make these regions unlivable for large portions of the population. And that's caused by a historic failure to engage in any politics that isn't directly tied to the bottom line of the corporations these entrepreneurs have created or their investors have financed. As Michael Solana, a vice president at Founders Fund, noted in a great piece on his Pirate Wires Substack : The truth is, had tech workers actually assumed a significant measure of political influence, and led in local politics, San Francisco would today be one of the greatest cities in the world. But not only was such political influence not achieved, it was never attempted. Throughout the most recent technology boom of the last fifteen years, there has been almost no meaningful engagement in local politics from the industry. Story continues Not that the deregulatory streak prized by many in the tech community would have solved Texas's problem or Florida's (California is a different kind of disaster). In Texas, lack of regulations around construction and the state's independent energy grid have made it more vulnerable to catastrophic climactic events -- whether that's 2017's Hurricane Harvey or this year's deadly winter storms, which killed Texans in their homes, vehicles and backyards . After Harvey, ignore the climate debate and focus on building better, more efficient cities California can claim that its grid failed by fewer megawatts than Texas's -- but the overall result from the natural disasters, blackouts, billions of dollars lost and scores of deaths are much the same. Surveying this broken world, many in the tech community have decided that the best result is to try the same thing somewhere else. But they're going to face many of the same problems in Florida or Texas. Homeowners concerned about construction lowering the value of their properties? Check . Rampant income inequality? Check . Reluctance to put in effective oversight that could ensure failures don't occur? Check . The difference those states offer is lower taxes for the wealthy, which means more of an ability to pay privately for the services to ensure that the burdens of climate change don't fall on these billionaires in their new waterfront homes. The through-line in all of this is a cynicism and abdication of responsibility papered over by the thinnest lips paying the smallest amount of service to solving climate problems. One step forward, eleventy-seven back Don't think that I'm merely being cynical about what some tech companies are doing when confronted with the rising catastrophe of climate change and decrepit American infrastructure. Why else would Elon Musk commit $100 million to a carbon capture prize while his publicly traded energy company invests $1.5 billion in bitcoin? Some analysts estimate that the deal and the resulting skyrocketing price of the cryptocurrency will erase all of the gains in emissions offsets from the use of every Tesla ever made. Tesla buys $1.5B in bitcoin, may accept the cryptocurrency as payment in the future "The immediate impact of Teslas buy is that the Bitcoin price went up by more than $5,000. We can estimate this will lead to the network consuming an additional 34 TWh of electrical energy per year. Thats about the size of a country like Denmarks total annual electrical energy requirement. We can also estimate this will result in an additional 17 million metric tons of CO2 being put out by the network every year," wrote Alex de Vries, the founder of the cryptocurrency analysis site, Digiconomist . "According to Tesla, the amount of CO2 saved by Tesla vehicles adds up to 3.7 million tons . The amount of additional CO2 produced by the Bitcoin network, as a result of Teslas buy, would thus amount to more than four times the amount of CO2 saved by all their vehicles to date." Some argue that bitcoin mining uses a disproportional amount of renewable energy to produce the cryptocurrency, but that argument is complicated by the seasonal sources of some renewables that miners (especially Chinese miners who produce the bulk of bitcoin) rely on for power. Tesla could potentially make more money from that investment than it has from the sale of cars, and has definitely boosted the emissions-spewing mining processes that make Bitcoin's digital printers go brrrrr. All of which makes the company's commitment to combating climate change look a bit specious. Teslas Bitcoin investment could be bad for the companys climate reputation and its bottom line Some hope? The most frustrating thing about all of this is that entrepreneurs and investors are working on solutions to the climate crisis. Technologies exist that can help address some of the issues that confront these cities. And there's billions to be made solving something that is very much an existential problem. Unfortunately, unlocking those billions in a time frame that's viable for society's survival is going to require policy movement and the type of engagement that many tech investors would rather hand off to someone else as they move to more temperate, and tax advantaged, climates. With the waters rising and the temperatures dropping, maybe those tax savings can buy a nice microgrid for power or a bigger boat. Given the projections that put the cost of climate change at nearly half a trillion dollars annually by the end of the century, it'd have to be a pretty big boat . New US report says that climate change could cost nearly $500B per year by 2090 View comments || Tesla May Have Made $1B on Its Bitcoin Investment: Tesla CEO Elon Musk said the automaker’s bitcoin investment was “less dumb” than holding cash, and it has already paid off. An analyst estimates that Tesla has already raked in approximately $1 billion in profit on its bitcoin investment due to the cryptocurrency’s soaring price.
In a note released over the weekend, Wedbush analyst Daniel Ives saidTeslais set to make more on its bitcoin investment than profits from selling its electric vehicles in all of 2020. He did not explain how he reached his calculation of $1 billion in profits.
CNBCnotes that the bitcoin price increased from an intraday high of $34,793.45 at the end of January to an intraday high of $57,487.03 on Feb. 20. That marks an approximately 65% jump, which would mean a profit of about $975 million for Tesla's $1.5 billion bitcoin investment. The intraday high last Monday was $58,332.36, which would have temporarily put the automaker's profit at more than $1 billion.
Earlier this month, the automaker revealed in a filing with the Securities and Exchange Commission that it had invested $1.5 billion in the cryptocurrency. Tesla said it made the purchase in January for "more flexibility to further diversify and maximize returns on our cash."
It's unclear whether the automaker sold any of thebitcoinafter the price increased. The bitcoin price has climbed 94% so far this year. The cryptocurrency's market cap surpassed $1 trillion last week for the first time.
Tesla is part of theEntrepreneur Index, which tracks 60 of the biggest publicly traded companies still run by their founders. Tesla made its $1.5 billion bitcoin investment after Musk, one of its co-founders, tweeted his change in stance on the cryptocurrency. He just became a supporter of it this year.
Since the bitcoin price jumped after Tesla revealed itspurchaseand after Musk's tweet in support of the cryptocurrency, it comes as little surprise that the price fell after Musk tweeted again.Bloombergnotes that after the automaker's investment last week, the bitcoin price surged 20% to surpass $58,000 for the first time.
Over the weekend, Musk tweeted that bitcoin prices "seem high." This month alone, the cryptocurrency's value is up by over 60%. It reached yet another new high on Sunday, approaching $59,000. Bloomberg suggests that the weekend volatility in bitcoin prices may be driven by people trading the cryptocurrency at home.
The news outlet also suggests that institutional investors, who work Monday through Friday, may have started selling today after Musk's tweet. The price pulled back today, falling below $53,000. || Tesla May Have Made $1B on Its Bitcoin Investment: Tesla CEO Elon Musk said the automaker’s bitcoin investment was “less dumb” than holding cash, and it has already paid off. An analyst estimates that Tesla has already raked in approximately $1 billion in profit on its bitcoin investment due to the cryptocurrency’s soaring price.
In a note released over the weekend, Wedbush analyst Daniel Ives saidTeslais set to make more on its bitcoin investment than profits from selling its electric vehicles in all of 2020. He did not explain how he reached his calculation of $1 billion in profits.
CNBCnotes that the bitcoin price increased from an intraday high of $34,793.45 at the end of January to an intraday high of $57,487.03 on Feb. 20. That marks an approximately 65% jump, which would mean a profit of about $975 million for Tesla's $1.5 billion bitcoin investment. The intraday high last Monday was $58,332.36, which would have temporarily put the automaker's profit at more than $1 billion.
Earlier this month, the automaker revealed in a filing with the Securities and Exchange Commission that it had invested $1.5 billion in the cryptocurrency. Tesla said it made the purchase in January for "more flexibility to further diversify and maximize returns on our cash."
It's unclear whether the automaker sold any of thebitcoinafter the price increased. The bitcoin price has climbed 94% so far this year. The cryptocurrency's market cap surpassed $1 trillion last week for the first time.
Tesla is part of theEntrepreneur Index, which tracks 60 of the biggest publicly traded companies still run by their founders. Tesla made its $1.5 billion bitcoin investment after Musk, one of its co-founders, tweeted his change in stance on the cryptocurrency. He just became a supporter of it this year.
Since the bitcoin price jumped after Tesla revealed itspurchaseand after Musk's tweet in support of the cryptocurrency, it comes as little surprise that the price fell after Musk tweeted again.Bloombergnotes that after the automaker's investment last week, the bitcoin price surged 20% to surpass $58,000 for the first time.
Over the weekend, Musk tweeted that bitcoin prices "seem high." This month alone, the cryptocurrency's value is up by over 60%. It reached yet another new high on Sunday, approaching $59,000. Bloomberg suggests that the weekend volatility in bitcoin prices may be driven by people trading the cryptocurrency at home.
The news outlet also suggests that institutional investors, who work Monday through Friday, may have started selling today after Musk's tweet. The price pulled back today, falling below $53,000. || Tesla May Have Made $1B on Its Bitcoin Investment: Tesla CEO Elon Musk said the automakers bitcoin investment was less dumb than holding cash, and it has already paid off. An analyst estimates that Tesla has already raked in approximately $1 billion in profit on its bitcoin investment due to the cryptocurrencys soaring price. Analyst estimates Tesla's bitcoin investment paid off In a note released over the weekend, Wedbush analyst Daniel Ives said Tesla is set to make more on its bitcoin investment than profits from selling its electric vehicles in all of 2020. He did not explain how he reached his calculation of $1 billion in profits. CNBC notes that the bitcoin price increased from an intraday high of $34,793.45 at the end of January to an intraday high of $57,487.03 on Feb. 20. That marks an approximately 65% jump, which would mean a profit of about $975 million for Tesla's $1.5 billion bitcoin investment. The intraday high last Monday was $58,332.36, which would have temporarily put the automaker's profit at more than $1 billion. Earlier this month, the automaker revealed in a filing with the Securities and Exchange Commission that it had invested $1.5 billion in the cryptocurrency. Tesla said it made the purchase in January for "more flexibility to further diversify and maximize returns on our cash." It's unclear whether the automaker sold any of the bitcoin after the price increased. The bitcoin price has climbed 94% so far this year. The cryptocurrency's market cap surpassed $1 trillion last week for the first time. Bitcoin price pulls back, thanks to Musk Tesla is part of the Entrepreneur Index , which tracks 60 of the biggest publicly traded companies still run by their founders. Tesla made its $1.5 billion bitcoin investment after Musk, one of its co-founders, tweeted his change in stance on the cryptocurrency. He just became a supporter of it this year. Since the bitcoin price jumped after Tesla revealed its purchase and after Musk's tweet in support of the cryptocurrency, it comes as little surprise that the price fell after Musk tweeted again. Bloomberg notes that after the automaker's investment last week, the bitcoin price surged 20% to surpass $58,000 for the first time. Over the weekend, Musk tweeted that bitcoin prices "seem high." This month alone, the cryptocurrency's value is up by over 60%. It reached yet another new high on Sunday, approaching $59,000. Bloomberg suggests that the weekend volatility in bitcoin prices may be driven by people trading the cryptocurrency at home. The news outlet also suggests that institutional investors, who work Monday through Friday, may have started selling today after Musk's tweet. The price pulled back today, falling below $53,000. || Square’s $50M Bitcoin Buy Is Now Worth $253M: Square’s Cash App deals in bitcoin operationally but a $50 million investment from the publicly traded firm’s cash reserves has grown significantly since being announced last fall.
Square’s4,709 bitcoinswere worth $50 million when the company announced the purchase in October 2020. Now thatBTCis worth a whopping $253 million.
Along with MicroStrategy, Square was an early entrant in the corporate bitcoin sweepstakes. Such treasury management plays inspired Elon Musk’s Tesla to invest $1.5 billion in bitcoinearlier this month.
Related:DeFi Lending Platforms Liquidate Record $115M in Loans as ETH Price Drops
Still, ahead of Square’s latest earnings report on Tuesday, analysts aren’t as enthused about the fraction of Square’s treasury (roughly 1% of the firm’s total assets when announced) that is crypto-denominated.
“There will be a bigger focus on the bitcoin purchases of their customer base and Cash App,” said Seaport Global analyst Chris Brendler. “It should be a big number in the fourth quarter.”
Analyst consensus estimates that Square will record $1.5 billion in bitcoin revenue, but those estimates could be off because of analysts who don’t pay attention to the bitcoin markets, Brendler said. His own estimate is $2.2 billion, a $600 million increase from Square’s third quarter bitcoin transaction revenue.
In the third quarter of 2020, Squarereported $1.63 billion in bitcoin revenue, which resulted in $32 million of gross profit from the bitcoin product in that quarter.
• Square’s $50M Bitcoin Buy Is Now Worth $253M
• Square’s $50M Bitcoin Buy Is Now Worth $253M
• Square’s $50M Bitcoin Buy Is Now Worth $253M || Square’s $50M Bitcoin Buy Is Now Worth $253M: Square’s Cash App deals in bitcoin operationally but a $50 million investment from the publicly traded firm’s cash reserves has grown significantly since being announced last fall.
Square’s4,709 bitcoinswere worth $50 million when the company announced the purchase in October 2020. Now thatBTCis worth a whopping $253 million.
Along with MicroStrategy, Square was an early entrant in the corporate bitcoin sweepstakes. Such treasury management plays inspired Elon Musk’s Tesla to invest $1.5 billion in bitcoinearlier this month.
Related:DeFi Lending Platforms Liquidate Record $115M in Loans as ETH Price Drops
Still, ahead of Square’s latest earnings report on Tuesday, analysts aren’t as enthused about the fraction of Square’s treasury (roughly 1% of the firm’s total assets when announced) that is crypto-denominated.
“There will be a bigger focus on the bitcoin purchases of their customer base and Cash App,” said Seaport Global analyst Chris Brendler. “It should be a big number in the fourth quarter.”
Analyst consensus estimates that Square will record $1.5 billion in bitcoin revenue, but those estimates could be off because of analysts who don’t pay attention to the bitcoin markets, Brendler said. His own estimate is $2.2 billion, a $600 million increase from Square’s third quarter bitcoin transaction revenue.
In the third quarter of 2020, Squarereported $1.63 billion in bitcoin revenue, which resulted in $32 million of gross profit from the bitcoin product in that quarter.
• Square’s $50M Bitcoin Buy Is Now Worth $253M
• Square’s $50M Bitcoin Buy Is Now Worth $253M
• Square’s $50M Bitcoin Buy Is Now Worth $253M || Squares $50M Bitcoin Buy Is Now Worth $253M: Squares Cash App deals in bitcoin operationally but a $50 million investment from the publicly traded firms cash reserves has grown significantly since being announced last fall. Squares 4,709 bitcoins were worth $50 million when the company announced the purchase in October 2020. Now that BTC is worth a whopping $253 million. Along with MicroStrategy, Square was an early entrant in the corporate bitcoin sweepstakes. Such treasury management plays inspired Elon Musks Tesla to invest $1.5 billion in bitcoin earlier this month . Related: DeFi Lending Platforms Liquidate Record $115M in Loans as ETH Price Drops Still, ahead of Squares latest earnings report on Tuesday, analysts arent as enthused about the fraction of Squares treasury (roughly 1% of the firms total assets when announced) that is crypto-denominated. There will be a bigger focus on the bitcoin purchases of their customer base and Cash App, said Seaport Global analyst Chris Brendler. It should be a big number in the fourth quarter. Analyst consensus estimates that Square will record $1.5 billion in bitcoin revenue, but those estimates could be off because of analysts who dont pay attention to the bitcoin markets, Brendler said. His own estimate is $2.2 billion, a $600 million increase from Squares third quarter bitcoin transaction revenue. In the third quarter of 2020, Square reported $1.63 billion in bitcoin revenue , which resulted in $32 million of gross profit from the bitcoin product in that quarter. Related Stories Squares $50M Bitcoin Buy Is Now Worth $253M Squares $50M Bitcoin Buy Is Now Worth $253M Squares $50M Bitcoin Buy Is Now Worth $253M || Barclays Investment Chief Compares Bitcoin To 'Flightless Bird': What Happened: Bitcoin (BTC) price corrected sharply from $57,000 to just under $50,000 earlier today, before recovering to $54,178 at the time of writing. Over the course of its rally, the market-leading cryptocurrency has come under scrutiny from those skeptical of its success – most recently from Barclays (NYSE: BCS ) investment chief Will Hobbs. Hobbs, who is the Chief Investment Officer at Barclays’ Wealth and Investments, went on to compare Bitcoin to a “flightless bird.” Why It Matters: Most analysts have suggested a key driver of Bitcoin’s successful rally has been the popular “store of value” narrative that surrounds the asset. Many investors, including Tesla Inc 's (NASDAQ: TSLA ) Elon Musk, have cited Bitcoin’s inflation hedging properties during periods of excessive money printing as its most appealing quality. Hobbs suggests that a change in government policies might lead to the cryptocurrency losing some value. "My hunch is that if real interest rates turned positive, then bitcoin [will] suddenly look like quite a flightless bird. Because if I can get a positive yield from lending to the US or UK government, why am I going to own bitcoin?" he said to Business Insider . What Else: Hobbs also stated that Barclays is not interested in Bitcoin at the moment, calling the zeal Bitcoin inspires ‘cultish.’ According to him, Bitcoin’s price movement is an example of the “narrative power of markets...similar to the Reddit story”, he said, referring to the GameStop Corp. (NYSE: GME ) incident. Image: Matt Brown via Wikipedia See more from Benzinga Click here for options trades from Benzinga Why Another March Crash Is Not Likely For Bitcoin Anthony Scaramucci Believes Bitcoin Price Will Reach 0K 'Before The End 2021' © 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Barclays Investment Chief Compares Bitcoin To 'Flightless Bird': What Happened: Bitcoin (BTC) price corrected sharply from $57,000 to just under $50,000 earlier today, before recovering to $54,178 at the time of writing. Over the course of its rally, the market-leading cryptocurrency has come under scrutiny from those skeptical of its success – most recently from Barclays (NYSE: BCS ) investment chief Will Hobbs. Hobbs, who is the Chief Investment Officer at Barclays’ Wealth and Investments, went on to compare Bitcoin to a “flightless bird.” Why It Matters: Most analysts have suggested a key driver of Bitcoin’s successful rally has been the popular “store of value” narrative that surrounds the asset. Many investors, including Tesla Inc 's (NASDAQ: TSLA ) Elon Musk, have cited Bitcoin’s inflation hedging properties during periods of excessive money printing as its most appealing quality. Hobbs suggests that a change in government policies might lead to the cryptocurrency losing some value. "My hunch is that if real interest rates turned positive, then bitcoin [will] suddenly look like quite a flightless bird. Because if I can get a positive yield from lending to the US or UK government, why am I going to own bitcoin?" he said to Business Insider . What Else: Hobbs also stated that Barclays is not interested in Bitcoin at the moment, calling the zeal Bitcoin inspires ‘cultish.’ According to him, Bitcoin’s price movement is an example of the “narrative power of markets...similar to the Reddit story”, he said, referring to the GameStop Corp. (NYSE: GME ) incident. Image: Matt Brown via Wikipedia See more from Benzinga Click here for options trades from Benzinga Why Another March Crash Is Not Likely For Bitcoin Anthony Scaramucci Believes Bitcoin Price Will Reach 0K 'Before The End 2021' © 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Barclays Investment Chief Compares Bitcoin To 'Flightless Bird': What Happened: Bitcoin (BTC) price corrected sharply from $57,000 to just under $50,000 earlier today, before recovering to $54,178 at the time of writing. Over the course of its rally, the market-leading cryptocurrency has come under scrutiny from those skeptical of its success – most recently from Barclays (NYSE: BCS ) investment chief Will Hobbs. Hobbs, who is the Chief Investment Officer at Barclays’ Wealth and Investments, went on to compare Bitcoin to a “flightless bird.” Why It Matters: Most analysts have suggested a key driver of Bitcoin’s successful rally has been the popular “store of value” narrative that surrounds the asset. Many investors, including Tesla Inc 's (NASDAQ: TSLA ) Elon Musk, have cited Bitcoin’s inflation hedging properties during periods of excessive money printing as its most appealing quality. Hobbs suggests that a change in government policies might lead to the cryptocurrency losing some value. "My hunch is that if real interest rates turned positive, then bitcoin [will] suddenly look like quite a flightless bird. Because if I can get a positive yield from lending to the US or UK government, why am I going to own bitcoin?" he said to Business Insider . What Else: Hobbs also stated that Barclays is not interested in Bitcoin at the moment, calling the zeal Bitcoin inspires ‘cultish.’ According to him, Bitcoin’s price movement is an example of the “narrative power of markets...similar to the Reddit story”, he said, referring to the GameStop Corp. (NYSE: GME ) incident. Image: Matt Brown via Wikipedia See more from Benzinga Click here for options trades from Benzinga Why Another March Crash Is Not Likely For Bitcoin Anthony Scaramucci Believes Bitcoin Price Will Reach 0K 'Before The End 2021' © 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Did a Tweet From Elon Musk Cause the Bitcoin Crash? This Is What We Know: A couple of weeks ago, tycoonElon Muskinvested $ 1.5 billion inBitcointhrough his companyTesla. The transaction raised themarket value above one trillion dollarsand the cryptocurrency reached a price above$ 58,000. However, despite the gains that the purchase has brought him, theCEO of SpaceXhinted that perhaps Bitcoin is overvalued.
Since Saturday, February 21,Bitcoin (BTC)began to show peaks that pointed to the upside.Tesla'sinvestment, added to those ofMastercard and BNY Mellon, caused its market value to exceed $ 1 trillion for the first time that day.
By Sunday night the 22nd, the cryptocurrencysurpassed $ 58,000 per unit.That is, almost double the $ 29,000 it cost on January 27, its lowest price so far this year.
During the first hours of this Monday, February 22,Bitcoinplummeted below$ 53,000, representing adrop of between 8 and 10%.
Ethereum, the second largest digital currency by market capitalization, set a record of more than$ 2,000 per uniton Saturday. However, this Monday it also fell to around $ 1,700. Still, you can see significant growth, as Ethereum started the year trading at just $ 730.
• Read also:Lily, the 3-year-old girl who explains how Bitcoin works with sweets
Earlier this month,Teslaannounced a $1.5 billioninvestment in Bitcoin. According to experts, Musk acquired 43,000 bitcoins during various operations in January. The median price last month was nearly $ 35,000. In addition, the company declared itself ready to accept cryptocurrency as a means of payment for its electric cars.
With this bet, Tesla made a profit close to abillion dollars, says Dan Ives, specialist at Wedbush Securities."To put this in perspective, Tesla is on a path to make more of its investments in Bitcoin than the proceeds from the sale of its electric vehicles in all of 2020,"Ives wrote in a note this Saturday.
• It may interest you:Is Bitcoin the digital gold?
In the midst ofBitcoin'sups and downs, last Friday a user rebukedMuskfor his stance on the cryptocurrency. Economist and market strategistPeter Schiffrecalled a comment theTesla CEOmade regarding BTC last December.
"According to Elon Musk 'Bitcoin is almost as much of a hoax as fiat money.' So Musk considers both Bitcoin and fiat money to be bullshit. I agree, I just think that Bitcoin, which is a digital fiat currency, is even more nonsense than the paper fiat currency issued by central banks. Gold is not silly. It's real money and better than both! "the digital money skeptic tweeted.
It should be remembered thatfiat money or inorganic moneyis one that is not based on the value of precious metals. Instead, it is supported by the general belief that it has value, that is, the trust of a society. For example, theDollar, the BritishPound, theEuroand theYenare fiat money.
Hours later,the 49-year-old tycoonresponded bluntly:
“An email that says you have gold is not the same as having gold. You could also have cryptocurrencies. Money is just a piece of information that allows us to avoid the inconvenience of bartering. That data, like all data, is subject to latency and error. The system will evolve toward that which minimizes both, ”Musk explained.
Next, the founder of SpaceX published the tweet that everyone associates with the fall of Bitcoin: "That said, BTC and ETH (bitcoin and ethereum) seem to be high."
Manyattribute the depreciation of Bitcoin to Musk's tweet, as the temporal proximity between the two events could give the feeling of cause and effect. However, Musk's statement came two days before the cryptocurrency reached its all-time high. That is, even after the businessman hinted that perhapsBTC is overvalued, its price continued to rise.
On the other hand, theBitcoincrash occurred until this Monday morning, which does not square with the immediate effects thatElon Musk'stweets have when it comes to electronic currencies. It is enough to remember the times that the value of the Dogecoin has increased just by mentioning it on your social network. Therefore, it would be very risky to say that the businessman caused the cryptocurrency to fall, although it cannot be completely ruled out either.
• See also:Elon Musk tweets and the Dogecoin grows wildly || Did a Tweet From Elon Musk Cause the Bitcoin Crash? This Is What We Know: A couple of weeks ago, tycoonElon Muskinvested $ 1.5 billion inBitcointhrough his companyTesla. The transaction raised themarket value above one trillion dollarsand the cryptocurrency reached a price above$ 58,000. However, despite the gains that the purchase has brought him, theCEO of SpaceXhinted that perhaps Bitcoin is overvalued.
Since Saturday, February 21,Bitcoin (BTC)began to show peaks that pointed to the upside.Tesla'sinvestment, added to those ofMastercard and BNY Mellon, caused its market value to exceed $ 1 trillion for the first time that day.
By Sunday night the 22nd, the cryptocurrencysurpassed $ 58,000 per unit.That is, almost double the $ 29,000 it cost on January 27, its lowest price so far this year.
During the first hours of this Monday, February 22,Bitcoinplummeted below$ 53,000, representing adrop of between 8 and 10%.
Ethereum, the second largest digital currency by market capitalization, set a record of more than$ 2,000 per uniton Saturday. However, this Monday it also fell to around $ 1,700. Still, you can see significant growth, as Ethereum started the year trading at just $ 730.
• Read also:Lily, the 3-year-old girl who explains how Bitcoin works with sweets
Earlier this month,Teslaannounced a $1.5 billioninvestment in Bitcoin. According to experts, Musk acquired 43,000 bitcoins during various operations in January. The median price last month was nearly $ 35,000. In addition, the company declared itself ready to accept cryptocurrency as a means of payment for its electric cars.
With this bet, Tesla made a profit close to abillion dollars, says Dan Ives, specialist at Wedbush Securities."To put this in perspective, Tesla is on a path to make more of its investments in Bitcoin than the proceeds from the sale of its electric vehicles in all of 2020,"Ives wrote in a note this Saturday.
• It may interest you:Is Bitcoin the digital gold?
In the midst ofBitcoin'sups and downs, last Friday a user rebukedMuskfor his stance on the cryptocurrency. Economist and market strategistPeter Schiffrecalled a comment theTesla CEOmade regarding BTC last December.
"According to Elon Musk 'Bitcoin is almost as much of a hoax as fiat money.' So Musk considers both Bitcoin and fiat money to be bullshit. I agree, I just think that Bitcoin, which is a digital fiat currency, is even more nonsense than the paper fiat currency issued by central banks. Gold is not silly. It's real money and better than both! "the digital money skeptic tweeted.
It should be remembered thatfiat money or inorganic moneyis one that is not based on the value of precious metals. Instead, it is supported by the general belief that it has value, that is, the trust of a society. For example, theDollar, the BritishPound, theEuroand theYenare fiat money.
Hours later,the 49-year-old tycoonresponded bluntly:
“An email that says you have gold is not the same as having gold. You could also have cryptocurrencies. Money is just a piece of information that allows us to avoid the inconvenience of bartering. That data, like all data, is subject to latency and error. The system will evolve toward that which minimizes both, ”Musk explained.
Next, the founder of SpaceX published the tweet that everyone associates with the fall of Bitcoin: "That said, BTC and ETH (bitcoin and ethereum) seem to be high."
Manyattribute the depreciation of Bitcoin to Musk's tweet, as the temporal proximity between the two events could give the feeling of cause and effect. However, Musk's statement came two days before the cryptocurrency reached its all-time high. That is, even after the businessman hinted that perhapsBTC is overvalued, its price continued to rise.
On the other hand, theBitcoincrash occurred until this Monday morning, which does not square with the immediate effects thatElon Musk'stweets have when it comes to electronic currencies. It is enough to remember the times that the value of the Dogecoin has increased just by mentioning it on your social network. Therefore, it would be very risky to say that the businessman caused the cryptocurrency to fall, although it cannot be completely ruled out either.
• See also:Elon Musk tweets and the Dogecoin grows wildly || Did a Tweet From Elon Musk Cause the Bitcoin Crash? This Is What We Know: A couple of weeks ago, tycoon Elon Musk invested $ 1.5 billion in Bitcoin through his company Tesla . The transaction raised the market value above one trillion dollars and the cryptocurrency reached a price above $ 58,000 . However, despite the gains that the purchase has brought him, the CEO of SpaceX hinted that perhaps Bitcoin is overvalued. Since Saturday, February 21, Bitcoin (BTC) began to show peaks that pointed to the upside. Tesla's investment, added to those of Mastercard and BNY Mellon , caused its market value to exceed $ 1 trillion for the first time that day. By Sunday night the 22nd, the cryptocurrency surpassed $ 58,000 per unit. That is, almost double the $ 29,000 it cost on January 27, its lowest price so far this year. $ 58,250. - Bitcoin (@Bitcoin) February 21, 2021 During the first hours of this Monday, February 22, Bitcoin plummeted below $ 53,000 , representing a drop of between 8 and 10% . Ethereum , the second largest digital currency by market capitalization, set a record of more than $ 2,000 per unit on Saturday. However, this Monday it also fell to around $ 1,700. Still, you can see significant growth, as Ethereum started the year trading at just $ 730. Read also: Lily, the 3-year-old girl who explains how Bitcoin works with sweets Elon Musk joins the Bitcoin fever Earlier this month, Tesla announced a $ 1.5 billion investment in Bitcoin. According to experts, Musk acquired 43,000 bitcoins during various operations in January. The median price last month was nearly $ 35,000. In addition, the company declared itself ready to accept cryptocurrency as a means of payment for its electric cars. With this bet, Tesla made a profit close to a billion dollars , says Dan Ives, specialist at Wedbush Securities. "To put this in perspective, Tesla is on a path to make more of its investments in Bitcoin than the proceeds from the sale of its electric vehicles in all of 2020," Ives wrote in a note this Saturday. Story continues It may interest you: Is Bitcoin the digital gold? What does Elon Musk have to do with the Bitcoin crash? In the midst of Bitcoin's ups and downs, last Friday a user rebuked Musk for his stance on the cryptocurrency. Economist and market strategist Peter Schiff recalled a comment the Tesla CEO made regarding BTC last December. "According to Elon Musk 'Bitcoin is almost as much of a hoax as fiat money.' So Musk considers both Bitcoin and fiat money to be bullshit. I agree, I just think that Bitcoin, which is a digital fiat currency, is even more nonsense than the paper fiat currency issued by central banks. Gold is not silly. It's real money and better than both! " the digital money skeptic tweeted. It should be remembered that fiat money or inorganic money is one that is not based on the value of precious metals. Instead, it is supported by the general belief that it has value, that is, the trust of a society. For example, the Dollar , the British Pound , the Euro and the Yen are fiat money. Hours later, the 49-year-old tycoon responded bluntly: An email that says you have gold is not the same as having gold. You could also have cryptocurrencies. Money is just a piece of information that allows us to avoid the inconvenience of bartering. That data, like all data, is subject to latency and error. The system will evolve toward that which minimizes both , Musk explained. An email saying you have gold is not the same as having gold. You might as well have crypto. Money is just data that allows us to avoid the inconvenience of barter. That data, like all data, is subject to latency & error. The system will evolve to that which minimizes both. - Elon Musk (@elonmusk) February 20, 2021 Next, the founder of SpaceX published the tweet that everyone associates with the fall of Bitcoin: "That said, BTC and ETH (bitcoin and ethereum) seem to be high." That said, BTC & ETH do seem high lol - Elon Musk (@elonmusk) February 20, 2021 Many attribute the depreciation of Bitcoin to Musk's tweet , as the temporal proximity between the two events could give the feeling of cause and effect. However, Musk's statement came two days before the cryptocurrency reached its all-time high. That is, even after the businessman hinted that perhaps BTC is overvalued , its price continued to rise. On the other hand, the Bitcoin crash occurred until this Monday morning, which does not square with the immediate effects that Elon Musk's tweets have when it comes to electronic currencies. It is enough to remember the times that the value of the Dogecoin has increased just by mentioning it on your social network. Therefore, it would be very risky to say that the businessman caused the cryptocurrency to fall, although it cannot be completely ruled out either. See also: Elon Musk tweets and the Dogecoin grows wildly
[Social Media Buzz]
None available.
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49705.33, 47093.85, 46339.76, 46188.45, 45137.77, 49631.24, 48378.99, 50538.24, 48561.17, 48927.30
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Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 271.91, 269.03, 266.21, 270.79, 269.23, 284.89, 293.11, 310.87, 292.05, 287.46, 285.83, 278.09, 279.47, 274.90, 273.61, 278.98, 275.83, 277.22, 276.05, 288.28, 288.70, 292.69, 293.62, 294.43, 289.59, 287.72, 284.65, 281.60, 282.61, 281.23, 285.22, 281.88, 278.58, 279.58, 261.00, 265.08, 264.47, 270.39, 266.38, 264.08, 265.68, 261.55, 258.51, 257.98, 211.08, 226.68, 235.35, 232.57, 230.39, 228.17, 210.49, 221.61, 225.83, 224.77, 231.40, 229.78, 228.76, 230.06, 228.12, 229.28, 227.18, 230.30, 235.02, 239.84, 239.85, 243.61, 238.17, 238.48, 240.11, 235.23, 230.51, 230.64, 230.30, 229.09, 229.81, 232.98, 231.49, 231.21, 227.09, 230.62, 230.28, 234.53, 235.14, 234.34, 232.76, 239.14, 236.69, 236.06, 237.55, 237.29.
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[Bitcoin Technical Analysis for 2015-10-02]
Volume: 19677900, RSI (14-day): 53.51, 50-day EMA: 238.82, 200-day EMA: 251.05
[Wider Market Context]
Gold Price: 1137.10, Gold RSI: 54.45
Oil Price: 45.54, Oil RSI: 51.24
[Recent News (last 7 days)]
MarilynJean Interactive (MJMI.QB) Today Announced Cancellation of Over 15% of Its Free Trading Shares: HENDERSON, NV / ACCESSWIRE / October 1, 2015 /MarilynJean Interactive (MJMI) today announced cancellation of 21,183,000 Common shares representing 10.9% of its issued and outstanding share total and 15.75% of its free trading shares.
As previously disclosed, on July 11, 2012, the Company issued 42,385,500 units at $0.01/unit, each unit consisting of one common share and one fourth of one common share warrant exercisable at $0.50 and one half of a common share warrant with an exercise price of $1.00. All warrants associated with these units have since expired and none were exercised before expiration.
On October 1, 2015 we have cancelled and returned to treasury 21,183,000 Common Shares, pursuant to Return to Treasury Agreements entered into with certain shareholders. The shareholders voluntarily agreed to cancel the shares and return them to treasury for consideration of promissory notes totaling $155,915. The notes are due and payable upon completion of a financing by our company in excess of $375,000.
Peter Janosi, MJMI's president said: "In addition to the over 100,000,000 convertible preferred shares that were cancelled last week, today's share cancellation brings the total reduction to over 42% of the Company's previous fully diluted share total. By significantly reducing the Company's free trading shares, we believe we have further increased the Company's potential to access capital and grow its business."
MJMI is in the business of providing safe and accessible services for the users of Bitcoin and other crypto-currencies.
MJMI is currently exploring partnerships with several existing Bitcoin and crypto-currency exchanges as well as manufacturers and operators of BitcoinATMs. Such a combination would place the company in an exciting position to offer an end to end solution for trading in various crypto-currencies and potentially capture a share of the lucrative markets of Bitcoin trading and remittance services, just as these markets appear poised to undergo massive growth.
About Bitcoin and Crypto-Currencies
Bitcoin and other crypto-currencies are a medium of exchange using cryptography to secure transactions and control the creation of new units. Bitcoin became the first decentralized crypto-currency in 2009. Crypto-currency is produced at a rate which is defined when the system is created and publicly known. By contrast, in centralized banking and economic systems, such as the Federal Reserve System, corporate boards or governments control the supply of currency by printing units or demanding additions to digital banking ledgers. However, neither companies nor governments can produce units of crypto-currency and as such the value of crypto-currencies are completely based on supply and demand, free from any governmental control. Many people believe crypto-currencies, and in particular bitcoin, hold the promise of being the most significant advancement in global finance in modern history. The advent of bitcoin creates a secure, easily accessible and transferable transnational currency that is completely liberated from political influence.
Richard Branson, head of the Virgin Group, is quoted on his company's website as saying: "I have invested in Bitcoin because I believe in its potential, the capacity it has to transform global payments is very exciting."
Heavyweight investment bank Goldman Sachs (NYSE:GS), announced on April 30th 2015 that it had partnered with Chinese investment firm IDG Capital partners to invest $50 million in a Bitcoin start-up. Numerous high-profile firms have begun accepting Bitcoin as a payment method including: Dell Inc. (NASDAQ:DELL), Dish Network Corp. (NASDAQ:DISH), Expedia Inc. (NASDAQ:EXPE), and Overstock.com (NASDAQ:OSTK).
MarilynJean Media Interactive is among the first publicly traded companies focused on bitcoin and the crypto-currency space. The company's trading symbol is MJMI.QB.
Website:www.marilynjean.comPress Contact:bonnie@marilynjean.com
SOURCE:MarilynJean Interactive || MarilynJean Interactive (MJMI.QB) Today Announced Cancellation of Over 15% of Its Free Trading Shares: HENDERSON, NV / ACCESSWIRE / October 1, 2015 / MarilynJean Interactive ( MJMI ) today announced cancellation of 21,183,000 Common shares representing 10.9% of its issued and outstanding share total and 15.75% of its free trading shares. As previously disclosed, on July 11, 2012, the Company issued 42,385,500 units at $0.01/unit, each unit consisting of one common share and one fourth of one common share warrant exercisable at $0.50 and one half of a common share warrant with an exercise price of $1.00. All warrants associated with these units have since expired and none were exercised before expiration. On October 1, 2015 we have cancelled and returned to treasury 21,183,000 Common Shares, pursuant to Return to Treasury Agreements entered into with certain shareholders. The shareholders voluntarily agreed to cancel the shares and return them to treasury for consideration of promissory notes totaling $155,915. The notes are due and payable upon completion of a financing by our company in excess of $375,000. Peter Janosi, MJMI's president said: "In addition to the over 100,000,000 convertible preferred shares that were cancelled last week, today's share cancellation brings the total reduction to over 42% of the Company's previous fully diluted share total. By significantly reducing the Company's free trading shares, we believe we have further increased the Company's potential to access capital and grow its business." MJMI is in the business of providing safe and accessible services for the users of Bitcoin and other crypto-currencies. MJMI is currently exploring partnerships with several existing Bitcoin and crypto-currency exchanges as well as manufacturers and operators of BitcoinATMs. Such a combination would place the company in an exciting position to offer an end to end solution for trading in various crypto-currencies and potentially capture a share of the lucrative markets of Bitcoin trading and remittance services, just as these markets appear poised to undergo massive growth. Story continues About Bitcoin and Crypto-Currencies Bitcoin and other crypto-currencies are a medium of exchange using cryptography to secure transactions and control the creation of new units. Bitcoin became the first decentralized crypto-currency in 2009. Crypto-currency is produced at a rate which is defined when the system is created and publicly known. By contrast, in centralized banking and economic systems, such as the Federal Reserve System, corporate boards or governments control the supply of currency by printing units or demanding additions to digital banking ledgers. However, neither companies nor governments can produce units of crypto-currency and as such the value of crypto-currencies are completely based on supply and demand, free from any governmental control. Many people believe crypto-currencies, and in particular bitcoin, hold the promise of being the most significant advancement in global finance in modern history. The advent of bitcoin creates a secure, easily accessible and transferable transnational currency that is completely liberated from political influence. Richard Branson, head of the Virgin Group, is quoted on his company's website as saying: "I have invested in Bitcoin because I believe in its potential, the capacity it has to transform global payments is very exciting." Heavyweight investment bank Goldman Sachs (NYSE:GS), announced on April 30th 2015 that it had partnered with Chinese investment firm IDG Capital partners to invest $50 million in a Bitcoin start-up. Numerous high-profile firms have begun accepting Bitcoin as a payment method including: Dell Inc. (NASDAQ:DELL), Dish Network Corp. (NASDAQ:DISH), Expedia Inc. (NASDAQ:EXPE), and Overstock.com (NASDAQ:OSTK). MarilynJean Media Interactive is among the first publicly traded companies focused on bitcoin and the crypto-currency space. The company's trading symbol is MJMI.QB. Website: www.marilynjean.com Press Contact: bonnie@marilynjean.com SOURCE: MarilynJean Interactive || Your Old Credit Card’s Now Obsolete. Now What?: (Rob Pegoraro/Yahoo Tech)
Something weird has been happening to our wallets: Computers have invaded them, one credit card at a time.
This overdue migration from cards with magnetic stripes on the back to “EMV” cards that add a tiny computer chip on the front reached a semi-important point Thursday: the “liability shift,” a rebalancing of powers between card issuers and merchants in the U.S. that may change who eats the cost of a bogus transaction.
For most of us, Liability Shift Day should be the most boring holiday ever. Only a minority of debit and credit cards have EMV chips (“EMV” stands for“Europay, MasterCard and Visa,” the three parents of the system), and the share ofretailers taking chip paymentsis even smaller.
But over time, things will change. Here’s how:
How exactly do I pay with a chip?
Instead of swiping a card with that satisfying flick of the wrist, you pop the card into a slot in a card terminal. Then you leave it there as the chip generates a one-time code (like the three- or four-digit number on your card for online purchases), the terminal processes the transaction, and you sign to complete it.
In my experience, that takes a few seconds longer than a mag-stripe card—assuming the stripe was able to read on the first try, which we all know doesn’t always happen.
Where can I pay with the chip?
Your chip transactions may be confined to major merchants like Walmart, Home Depot, and Target. It’s not enough to see a “point of sale” terminal with an EMV slot; that part may be inactive.
For example, my neighborhood’s Whole Foods accepts Apple Pay and other phone payments but not EMV. Spokesman Michael Silverman said the chain plans to fix that across its stores… by the end of 2016.
A complete upgrade across U.S. retail will take longer. On a conference call Wednesday, Visa vice president Stephanie Ericksen said 314,000 establishments take chip payments, up from 55,000 last September—but that’s out of a total of maybe 6 million to 8 million.
How do I get EMV versions of my cards?
If you haven’t already been issued chipped versions of your cards—those in my wallet reached that blessed statein July—you’ll have to ask your issuer what the holdup is.
While you wait, you might as well use that time to shop around and see if you can switch to a card withbetter cash-back or travel rewards.
Will chip cards stop data breaches?
Sorry, no. With EMV, your card number and expiration date still get sent in the clear to the store and beyond. If somebody hacks the terminal or the software upstream, they can still go to town with your card.
“It does not take care of making sure that the data is protected as it travels through the various layers of payment systems,” explained Erik Vlugt, a vice president at the payment-processing firmVeriFone.
EMV cards also remain usable if lost or stolen unless they’re further secured with a PIN. That’s common with European but not U.S. cards. (More on that later.)
So what security problem does EMV actually solve?
Chip cards can’t be cloned the way stripe cards can. Counterfeiting is a huge problem, accounting for37 percent of all U.S. credit-card fraud in 2014—second only after “card not present” theft staged online or over the phone, according to the research firmAite Group.
Crooks have had a clear economic incentive to clone cards, security researcher Brian Krebs noted ina 2014 explainer: A counterfeiter “walks into a big box store and walks out with high-priced electronics or gift cards that he can easily turn into cash.”
Who pays with the liability shift?
Definitely not you — just like today, fraud isn’t your problem as long as you report it. But merchants can pay more, subject to various rules. AsNational Retail Federationgeneral counsel Mallory Duncan summed up in an e-mail: “Whomever has the more evolved equipment (in a counterfeit situation) wins.”
That is, if the bank issued a chip card, the crook shows up with a counterfeit version of it, and the merchant doesn’t process chip transactions, the merchant is liable to eat the cost. But it can get complicated: “There are scenarios where both parties accept a certain percentage of the responsibility,” MasterCard product-delivery head Carolyn Balfany said over e-mail.
Note, too, that retailers already pay for some fraudulent transactions, as you can see inVisa’s “chargeback” rules. In turn, all of us pay in the form of slightly higher prices, same as we collectively pay for the“shrinkage”of shoplifting and employee theft.
What if a store doesn’t take EMV?
Good luck judging a store’s security, although some modern payment gadgets likeSquare’s card readersdo encrypt card numbers automatically.
If you can use your phone to pay for things, do it. Apple Pay and Android Pay do“tokenization,”meaning they generate a new card number for each transaction. Or you could pay with cash,Bitcoin,bartered chickens, or any other mutually agreeable medium of value.
What about chip-and-PIN?
You may have read that chip-and-PIN cards are more secure because you have to type a number matching the one stored on the chip. But that’s not why they exist: When EMV cards arrived in Europe, many establishments didn’t have online access to verify transactions with issuers and so needed authentication that worked offline.
U.S. banks have avoided PIN because, hey, who wants to remember another number? (A few months ago, Underwriters Laboratories innovations director Maarten Bron said he’d seentoo many chip-and-PIN holders write down their PIN on the back of their cards.)
International travelers have complained that signature EMV cards don’t work at kiosks in Europe. Visa’s rules now require those unattended terminals to waive the PIN; it says that in a recent test across five EU states,90 percent of signature-card transactions worked.
So how do we stop online fraud?
Payment-processing systems can ensure they have nothing worth stealing by not keeping card numbers intact—what Visa calls “devaluing” that data.
In that respect, the slow adoption of EMV security could give lagging merchants a chance to jump to an Apple Pay level of security. SaidPCI Security Standards Councilchief technology office Troy Leach: “We’re hoping that they buy the next generation of security, which is encryption and tokenization.”
I hope he’s right. But I won’t be too surprised if five years from now, a shop with connectivity issues still has to dust off a“knuckle buster”card imprinter to take my payment on a slip of carbon paper.
EmailRobatrob@robpegoraro.com; follow him on Twitter at@robpegoraro. || Your Old Credit Cards Now Obsolete. Now What?: (Rob Pegoraro/Yahoo Tech) Something weird has been happening to our wallets: Computers have invaded them, one credit card at a time. This overdue migration from cards with magnetic stripes on the back to EMV cards that add a tiny computer chip on the front reached a semi-important point Thursday: the liability shift, a rebalancing of powers between card issuers and merchants in the U.S. that may change who eats the cost of a bogus transaction. For most of us, Liability Shift Day should be the most boring holiday ever. Only a minority of debit and credit cards have EMV chips (EMV stands for Europay, MasterCard and Visa, the three parents of the system ), and the share of retailers taking chip payments is even smaller. But over time, things will change. Heres how: How exactly do I pay with a chip? Instead of swiping a card with that satisfying flick of the wrist, you pop the card into a slot in a card terminal. Then you leave it there as the chip generates a one-time code (like the three- or four-digit number on your card for online purchases), the terminal processes the transaction, and you sign to complete it. In my experience, that takes a few seconds longer than a mag-stripe cardassuming the stripe was able to read on the first try, which we all know doesnt always happen. Where can I pay with the chip? Your chip transactions may be confined to major merchants like Walmart, Home Depot, and Target. Its not enough to see a point of sale terminal with an EMV slot; that part may be inactive. For example, my neighborhoods Whole Foods accepts Apple Pay and other phone payments but not EMV. Spokesman Michael Silverman said the chain plans to fix that across its stores
by the end of 2016. A complete upgrade across U.S. retail will take longer. On a conference call Wednesday, Visa vice president Stephanie Ericksen said 314,000 establishments take chip payments, up from 55,000 last Septemberbut thats out of a total of maybe 6 million to 8 million. Story continues How do I get EMV versions of my cards? If you havent already been issued chipped versions of your cardsthose in my wallet reached that blessed state in July youll have to ask your issuer what the holdup is. While you wait, you might as well use that time to shop around and see if you can switch to a card with better cash-back or travel rewards . Will chip cards stop data breaches? Sorry, no. With EMV, your card number and expiration date still get sent in the clear to the store and beyond. If somebody hacks the terminal or the software upstream, they can still go to town with your card. It does not take care of making sure that the data is protected as it travels through the various layers of payment systems, explained Erik Vlugt, a vice president at the payment-processing firm VeriFone . EMV cards also remain usable if lost or stolen unless theyre further secured with a PIN. Thats common with European but not U.S. cards. (More on that later.) So what security problem does EMV actually solve? Chip cards cant be cloned the way stripe cards can. Counterfeiting is a huge problem, accounting for 37 percent of all U.S. credit-card fraud in 2014 second only after card not present theft staged online or over the phone, according to the research firm Aite Group . Crooks have had a clear economic incentive to clone cards, security researcher Brian Krebs noted in a 2014 explainer : A counterfeiter walks into a big box store and walks out with high-priced electronics or gift cards that he can easily turn into cash. Who pays with the liability shift? Definitely not you just like today, fraud isnt your problem as long as you report it. But merchants can pay more, subject to various rules. As National Retail Federation general counsel Mallory Duncan summed up in an e-mail: Whomever has the more evolved equipment (in a counterfeit situation) wins. That is, if the bank issued a chip card, the crook shows up with a counterfeit version of it, and the merchant doesnt process chip transactions, the merchant is liable to eat the cost. But it can get complicated: There are scenarios where both parties accept a certain percentage of the responsibility, MasterCard product-delivery head Carolyn Balfany said over e-mail. Note, too, that retailers already pay for some fraudulent transactions, as you can see in Visas chargeback rules . In turn, all of us pay in the form of slightly higher prices, same as we collectively pay for the shrinkage of shoplifting and employee theft. What if a store doesnt take EMV? Good luck judging a stores security, although some modern payment gadgets like Squares card readers do encrypt card numbers automatically. If you can use your phone to pay for things, do it. Apple Pay and Android Pay do tokenization, meaning they generate a new card number for each transaction. Or you could pay with cash, Bitcoin , bartered chickens , or any other mutually agreeable medium of value. What about chip-and-PIN? You may have read that chip-and-PIN cards are more secure because you have to type a number matching the one stored on the chip. But thats not why they exist: When EMV cards arrived in Europe, many establishments didnt have online access to verify transactions with issuers and so needed authentication that worked offline. U.S. banks have avoided PIN because, hey, who wants to remember another number? (A few months ago, Underwriters Laboratories innovations director Maarten Bron said hed seen too many chip-and-PIN holders write down their PIN on the back of their cards .) International travelers have complained that signature EMV cards dont work at kiosks in Europe. Visas rules now require those unattended terminals to waive the PIN; it says that in a recent test across five EU states, 90 percent of signature-card transactions worked . So how do we stop online fraud? Payment-processing systems can ensure they have nothing worth stealing by not keeping card numbers intactwhat Visa calls devaluing that data. In that respect, the slow adoption of EMV security could give lagging merchants a chance to jump to an Apple Pay level of security. Said PCI Security Standards Council chief technology office Troy Leach: Were hoping that they buy the next generation of security, which is encryption and tokenization. I hope hes right. But I wont be too surprised if five years from now, a shop with connectivity issues still has to dust off a knuckle buster card imprinter to take my payment on a slip of carbon paper. Email Rob at rob@robpegoraro.com ; follow him on Twitter at @robpegoraro . || Bitcoin Gains Deeper Foothold In Latin America Through MercadoLibre: Latin America's version ofeBay Inc(NASDAQ:EBAY), MercadoLibre, hasannouncedthat it will be integrating bitcoin payments into its services. The move represents a big win for the cryptocurrency community, which has long promoted bitcoin usage in regions like Latin America where a large percentage of the population are still unbanked.
Bitcoin Improves Service
MercadoLibre sent anemail notificationto users announcing its plans to integrate bitcoin and saying that the decision will give merchants a wider reach and customers more options. The site is planning to make bitcoin integration subtle and said that merchants won't see much change to their user experience other than a note in their transaction history saying which payments were made via digital currencies.
Related Link: Charlie Shrem Weighs In On Bitcoin From His Prison Cell
Not Quite Yet
While MercadoLibre has announced its plans, it is still unclear how the rollout will take place. The site currently serves 13 Latin American countries and it is unknown how many will receive a bitcoin option. The site will also have to deal with the changing regulations regarding bitcoin payments as the cryptocurrency evolves and spreads across the globe.
Latin American Potential
Bitcoin has long been touted as a good option for countries where much of the population has limited access to banking facilities. Bitcoin has also proven to be a viable alternative for those living in a country where the currency is prone to volatility. For that reason, many believe that bitcoin's expansion into Latin America is an important step forward. However, the cryptocurrency is likely to face some obstacles there as well since over half of the population doesn't have access to the Internet.
See more from Benzinga
• Traditional Energy Firms Likely To Back Bush On New Policy Proposal
• Next Generation Connected Cars To Have Wireless Updates
• Google Toes The Line Between Safe And Realistic With Autonomous Cars
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Bitcoin Gains Deeper Foothold In Latin America Through MercadoLibre: Latin America's version of eBay Inc (NASDAQ: EBAY ), MercadoLibre, has announced that it will be integrating bitcoin payments into its services. The move represents a big win for the cryptocurrency community, which has long promoted bitcoin usage in regions like Latin America where a large percentage of the population are still unbanked. Bitcoin Improves Service MercadoLibre sent an email notification to users announcing its plans to integrate bitcoin and saying that the decision will give merchants a wider reach and customers more options. The site is planning to make bitcoin integration subtle and said that merchants won't see much change to their user experience other than a note in their transaction history saying which payments were made via digital currencies. Related Link: Charlie Shrem Weighs In On Bitcoin From His Prison Cell Not Quite Yet While MercadoLibre has announced its plans, it is still unclear how the rollout will take place. The site currently serves 13 Latin American countries and it is unknown how many will receive a bitcoin option. The site will also have to deal with the changing regulations regarding bitcoin payments as the cryptocurrency evolves and spreads across the globe. Latin American Potential Bitcoin has long been touted as a good option for countries where much of the population has limited access to banking facilities. Bitcoin has also proven to be a viable alternative for those living in a country where the currency is prone to volatility. For that reason, many believe that bitcoin's expansion into Latin America is an important step forward. However, the cryptocurrency is likely to face some obstacles there as well since over half of the population doesn't have access to the Internet. See more from Benzinga Traditional Energy Firms Likely To Back Bush On New Policy Proposal Next Generation Connected Cars To Have Wireless Updates Google Toes The Line Between Safe And Realistic With Autonomous Cars © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Bitcoin Gains Deeper Foothold In Latin America Through MercadoLibre: Latin America's version ofeBay Inc(NASDAQ:EBAY), MercadoLibre, hasannouncedthat it will be integrating bitcoin payments into its services. The move represents a big win for the cryptocurrency community, which has long promoted bitcoin usage in regions like Latin America where a large percentage of the population are still unbanked.
Bitcoin Improves Service
MercadoLibre sent anemail notificationto users announcing its plans to integrate bitcoin and saying that the decision will give merchants a wider reach and customers more options. The site is planning to make bitcoin integration subtle and said that merchants won't see much change to their user experience other than a note in their transaction history saying which payments were made via digital currencies.
Related Link: Charlie Shrem Weighs In On Bitcoin From His Prison Cell
Not Quite Yet
While MercadoLibre has announced its plans, it is still unclear how the rollout will take place. The site currently serves 13 Latin American countries and it is unknown how many will receive a bitcoin option. The site will also have to deal with the changing regulations regarding bitcoin payments as the cryptocurrency evolves and spreads across the globe.
Latin American Potential
Bitcoin has long been touted as a good option for countries where much of the population has limited access to banking facilities. Bitcoin has also proven to be a viable alternative for those living in a country where the currency is prone to volatility. For that reason, many believe that bitcoin's expansion into Latin America is an important step forward. However, the cryptocurrency is likely to face some obstacles there as well since over half of the population doesn't have access to the Internet.
See more from Benzinga
• Traditional Energy Firms Likely To Back Bush On New Policy Proposal
• Next Generation Connected Cars To Have Wireless Updates
• Google Toes The Line Between Safe And Realistic With Autonomous Cars
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Amazon Turns To The Sharing Economy With Part-Time 'Flex' Service: This holiday season there has been much concern over how firms will cope with the lack of seasonal employees. As unemployment rates have fallen dramatically across the United States, there is a much smaller pool of part-time employees, leaving many firms to decide whether to pay more and sacrifice margins or brave the shopping season without extra hands.
Amazon.com, Inc.(NASDAQ:AMZN) is one such firm which will likely feel the effects of fewer employees as the company's one-day shipping promises often attract droves of last-minute shoppers. However, the e-commerce giant is hoping to fill the gap usingthe sharing economy.
Related Link:What Could Amazon And Lear Mean For Detroit?
Sharing Economy
In Seattle, Amazon has been piloting a new program which allows everyday people to become Amazon delivery representatives in their free time. Much like Uber, Amazon is tapping into the sharing economy in order to fill a need without taking on new employees. The service, called Amazon Flex, allows people to pick up packages from Amazon warehouses and deliver them to customers' homes for a reasonable $20 per hour.
On Demand Workers
The program is expected to catch on quickly as the rise of on-demand workers has been huge over the past year. College students, part-time workers and low paid employees are often looking for ways to earn extra cash in their free time and programs like Amazon Flex allow them to do so without locking them in to set hours. Not only does it give the delivery people a bit of extra income, but it significantly reduces Amazon's shipping costs and allows the company to offer its customers faster delivery times even when the hiring pool is shrinking.
See more from Benzinga
• Boeing's Muilenburg Sees Space, Drones And China In Company's Future
• Bank Of America Prepares For Bitcoin Revolution
• Logistics Firms Prepare For 3D Printing's Future
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Amazon Turns To The Sharing Economy With Part-Time 'Flex' Service: This holiday season there has been much concern over how firms will cope with the lack of seasonal employees. As unemployment rates have fallen dramatically across the United States, there is a much smaller pool of part-time employees, leaving many firms to decide whether to pay more and sacrifice margins or brave the shopping season without extra hands. Amazon.com, Inc. (NASDAQ: AMZN ) is one such firm which will likely feel the effects of fewer employees as the company's one-day shipping promises often attract droves of last-minute shoppers. However, the e-commerce giant is hoping to fill the gap using the sharing economy . Related Link: What Could Amazon And Lear Mean For Detroit? Sharing Economy In Seattle, Amazon has been piloting a new program which allows everyday people to become Amazon delivery representatives in their free time. Much like Uber, Amazon is tapping into the sharing economy in order to fill a need without taking on new employees. The service, called Amazon Flex, allows people to pick up packages from Amazon warehouses and deliver them to customers' homes for a reasonable $20 per hour. On Demand Workers The program is expected to catch on quickly as the rise of on-demand workers has been huge over the past year. College students, part-time workers and low paid employees are often looking for ways to earn extra cash in their free time and programs like Amazon Flex allow them to do so without locking them in to set hours. Not only does it give the delivery people a bit of extra income, but it significantly reduces Amazon's shipping costs and allows the company to offer its customers faster delivery times even when the hiring pool is shrinking. See more from Benzinga Boeing's Muilenburg Sees Space, Drones And China In Company's Future Bank Of America Prepares For Bitcoin Revolution Logistics Firms Prepare For 3D Printing's Future © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Patients To Benefit From Latest Tech Trends: For years, the medical industry has evolved alongside the tech space as new technology gave doctors the ability to treat patients in ways they never thought possible. Now, the latest trends in the tech space are making their way to patients to help treat illnesses and aid in recovery in new and innovative ways. Virtual Reality Virtual reality headsets have been a hot topic this year after Facebook Inc (NASDAQ: FB )-owned firm Oculus revealed an affordable, consumer friendly version of the technology. Many said the latest developments in VR are likely to benefit the medical community by providing new doctors with training simulations, but therapists say there is a use-case for the goggles in treating mental health patients as well. Related Link: Virtual Reality Becomes An Actual Reality With New Oculus Headset Virtual Reality Experiences Therapists and counselors say that using virtual reality to put patients in difficult situations could help them deal with some of their problems in a safe environment. The technology could be used for all kinds of mental health patients from those suffering from Post-Traumatic Stress Disorder to people with debilitating fear or anxiety. Not only would virtual reality give existing patients a new way to cope with their problems, but the new technique could encourage those suffering from mental disorders to attend therapy. Big Data Another growing field in the tech space has been data analysis and consumer products firm Johnson & Johnson (NYSE: JNJ ) intends to put that information into the hands of patients. Together with International Business Machines Corp. (NYSE: IBM ) and Apple Inc. (NASDAQ: AAPL ), Johnson & Johnson said it plans to create a new app that will use health data to give patients a virtual coach. The app will use artificial intelligence to sort through thousands of data points in order to predict patient outcomes and give users treatment suggestions. Initially, the company plans to release one such app geared toward knee-replacement patients and its effectiveness will be measured by the rate of hospital re-admissions, but eventually the service could be offered to a wide range of patients. Image Credit: Public Domain See more from Benzinga Facebook Looks To Take Over TV Advertising Net Neutrality Gets Tricky When You Talk About Global Access Bank Of America Prepares For Bitcoin Revolution © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. View comments || Patients To Benefit From Latest Tech Trends: For years, the medical industry has evolved alongside the tech space as new technology gave doctors the ability to treat patients in ways they never thought possible. Now, the latest trends in the tech space are making their way to patients to help treat illnesses and aid in recovery in new and innovative ways.
Virtual Reality
Virtual reality headsets have been a hot topic this year afterFacebook Inc(NASDAQ:FB)-owned firm Oculus revealed an affordable, consumer friendly version of the technology.
Many said the latest developments in VR are likely to benefit the medical community by providing new doctors with training simulations, but therapists say there is ause-casefor the goggles in treating mental health patients as well.
Related Link:Virtual Reality Becomes An Actual Reality With New Oculus Headset
Virtual Reality Experiences
Therapists and counselors say that using virtual reality to put patients in difficult situations could help them deal with some of their problems in a safe environment. The technology could be used for all kinds of mental health patients from those suffering from Post-Traumatic Stress Disorder to people with debilitating fear or anxiety.
Not only would virtual reality give existing patients a new way to cope with their problems, but the new technique could encourage those suffering from mental disorders to attend therapy.
Big Data
Another growing field in the tech space has been data analysis and consumer products firmJohnson & Johnson(NYSE:JNJ) intends toput that informationinto the hands of patients.
Together withInternational Business Machines Corp.(NYSE:IBM) andApple Inc.(NASDAQ:AAPL), Johnson & Johnson said it plans to create a new app that will use health data to give patients a virtual coach.
The app will use artificial intelligence to sort through thousands of data points in order to predict patient outcomes and give users treatment suggestions. Initially, the company plans to release one such app geared toward knee-replacement patients and its effectiveness will be measured by the rate of hospital re-admissions, but eventually the service could be offered to a wide range of patients.
Image Credit: Public Domain
See more from Benzinga
• Facebook Looks To Take Over TV Advertising
• Net Neutrality Gets Tricky When You Talk About Global Access
• Bank Of America Prepares For Bitcoin Revolution
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Mission Accomplished -- CWC's Chris Dehring Departs: MIAMI, FL--(Marketwired - Sep 25, 2015) - Cable & Wireless Communications , Plc (CWC) announced today that Chris Dehring, Chairman of LIME Jamaica and a member of the senior executive team, has decided to return to the forays of entrepreneurship after six transformative years with the Company, effective September 30, 2015. "On behalf of the Board of Directors and the management and staff of C&W, I want to thank Chris for his outstanding contributions to our business during his time with the Company," said Phil Bentley, C&W's CEO. "Chris has been a key leader in our business, spearheading the largest market in the Caribbean for over six years as Chairman, and building a solid foundation to drive growth and profitability in one of our most important markets. His outstanding reputation throughout the Caribbean and strategic acumen proved invaluable to the success of the merger with Columbus and we thank him for his leadership, and wish him well in his future endeavours," said Bentley. "On a personal note, I'd like to thank Chris for working so closely and effectively with me on gaining the support across the Caribbean for the acquisition of Columbus -- this has been a game changer for C&W!" added Bentley. Chris, who has an outstanding track record in business across the region, orchestrated new emergency legislation and the historic regulatory rulings that redressed the anomalies in the Jamaican telecommunications market, paving the way for the company to grow its mobile subscriber base from just over 200k to 900k currently. He was instrumental in reviving the LIME brand (now Flow), and business with innovative marketing and innovations such as LIME Skool Aid which continues today. Considered a maverick among his peers, Chris played a key role in the regulatory approval negotiations across the region to facilitate the successful merger with Columbus International Inc. Commenting on his tenure, the affable Chairman and Senior Vice President for Government and Regulatory Affairs, said, "It was an honour to serve with so many outstanding colleagues at Cable & Wireless Communications and to be able to close this remarkable era of my career by playing such an integral role in finalising what undoubtedly is a transformational merger with Columbus. Similar to the regulatory obstacles we overcame in Jamaica, there were massive regulatory hurdles with the merger, but I'm delighted to have had the opportunity to leverage my expertise and be a part of a US$3 billion dollar transaction spanning 42 countries. Coupled with the turnaround and upward trajectory of C&W in Jamaica and the Caribbean, I feel like my mission has been accomplished and it is time to move on to my next adventure!" Story continues Prior to joining C&W, Chris earned a solid reputation in Jamaica and across the Caribbean as a marketing specialist and entrepreneur. He was one of the founders of Jamaica's first investment bank and the Caribbean's first sports television cable channel, and as Managing Director & CEO, led the region in staging its first global sporting event -- the ICC Cricket World Cup in 2007. About Cable & Wireless Communications: Cable & Wireless Communications Plc (CWC) is a full service communications and entertainment provider, operating in the Caribbean and Latin America. With annual sales of over $2.4bn, it operates both mobile and fixed networks, supported by submarine and terrestrial optical fibre backhaul capacity. Through the acquisition of Columbus International Inc. on 31 March 2015, CWC now delivers superior high-speed mobile data, broadband and video services. It has leading market positions in Mobile, Fixed Line, Broadband and Video consumer offers. Through its business division, CWC provides data centre hosting, domestic and international managed network services, and customised IT service solutions, utilising cloud technology to serve business and government customers. The company also operates a state-of-the-art subsea fibre optic cable network that spans more than 42,000 km -- the most extensive in the region -- as well as 38,000 km of terrestrial fibre providing wholesale and carrier backhaul capacity. CWC has more than 7,000 employees serving over 6 million customers (Mobile 3.8m; Fixed Line 1.1m; TV 460k and Broadband 665k) as well as over 125k corporate clients across 42 countries. The Company's leading brands include; LIME and Flow in the Caribbean; BTC in The Bahamas; Mas Movil in Panama; C&W Business and C&W Networks. CWC is the market leader in most products offered and territories served. It is a major contributor to local communities through its corporate social responsibility programmes. Cable & Wireless Communications' shares are quoted on the London Stock Exchange under the ticker CWC. The company is headquartered in London with its operational hub located in Miami, within close proximity to the Caribbean and Latin America. For more information please visit: www.cwc.com Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=2894129 || Mission Accomplished -- CWC's Chris Dehring Departs: MIAMI, FL--(Marketwired - Sep 25, 2015) -Cable & Wireless Communications, Plc (CWC) announced today that Chris Dehring, Chairman of LIME Jamaica and a member of the senior executive team, has decided to return to the forays of entrepreneurship after six transformative years with the Company, effective September 30, 2015.
"On behalf of the Board of Directors and the management and staff of C&W, I want to thank Chris for his outstanding contributions to our business during his time with the Company," said Phil Bentley, C&W's CEO. "Chris has been a key leader in our business, spearheading the largest market in the Caribbean for over six years as Chairman, and building a solid foundation to drive growth and profitability in one of our most important markets. His outstanding reputation throughout the Caribbean and strategic acumen proved invaluable to the success of the merger with Columbus and we thank him for his leadership, and wish him well in his future endeavours," said Bentley.
"On a personal note, I'd like to thank Chris for working so closely and effectively with me on gaining the support across the Caribbean for the acquisition of Columbus -- this has been a game changer for C&W!" added Bentley.
Chris, who has an outstanding track record in business across the region, orchestrated new emergency legislation and the historic regulatory rulings that redressed the anomalies in the Jamaican telecommunications market, paving the way for the company to grow its mobile subscriber base from just over 200k to 900k currently. He was instrumental in reviving the LIME brand (now Flow), and business with innovative marketing and innovations such as LIME Skool Aid which continues today. Considered a maverick among his peers, Chris played a key role in the regulatory approval negotiations across the region to facilitate the successful merger with Columbus International Inc.
Commenting on his tenure, the affable Chairman and Senior Vice President for Government and Regulatory Affairs, said, "It was an honour to serve with so many outstanding colleagues at Cable & Wireless Communications and to be able to close this remarkable era of my career by playing such an integral role in finalising what undoubtedly is a transformational merger with Columbus. Similar to the regulatory obstacles we overcame in Jamaica, there were massive regulatory hurdles with the merger, but I'm delighted to have had the opportunity to leverage my expertise and be a part of a US$3 billion dollar transaction spanning 42 countries. Coupled with the turnaround and upward trajectory of C&W in Jamaica and the Caribbean, I feel like my mission has been accomplished and it is time to move on to my next adventure!"
Prior to joining C&W, Chris earned a solid reputation in Jamaica and across the Caribbean as a marketing specialist and entrepreneur. He was one of the founders of Jamaica's first investment bank and the Caribbean's first sports television cable channel, and as Managing Director & CEO, led the region in staging its first global sporting event -- the ICC Cricket World Cup in 2007.
About Cable & Wireless Communications:Cable & Wireless Communications Plc (CWC) is a full service communications and entertainment provider, operating in the Caribbean and Latin America. With annual sales of over $2.4bn, it operates both mobile and fixed networks, supported by submarine and terrestrial optical fibre backhaul capacity. Through the acquisition of Columbus International Inc. on 31 March 2015, CWC now delivers superior high-speed mobile data, broadband and video services. It has leading market positions in Mobile, Fixed Line, Broadband and Video consumer offers.
Through its business division, CWC provides data centre hosting, domestic and international managed network services, and customised IT service solutions, utilising cloud technology to serve business and government customers.
The company also operates a state-of-the-art subsea fibre optic cable network that spans more than 42,000 km -- the most extensive in the region -- as well as 38,000 km of terrestrial fibre providing wholesale and carrier backhaul capacity.
CWC has more than 7,000 employees serving over 6 million customers (Mobile 3.8m; Fixed Line 1.1m; TV 460k and Broadband 665k) as well as over 125k corporate clients across 42 countries. The Company's leading brands include; LIME and Flow in the Caribbean; BTC in The Bahamas; Mas Movil in Panama; C&W Business and C&W Networks. CWC is the market leader in most products offered and territories served. It is a major contributor to local communities through its corporate social responsibility programmes.
Cable & Wireless Communications' shares are quoted on the London Stock Exchange under the ticker CWC. The company is headquartered in London with its operational hub located in Miami, within close proximity to the Caribbean and Latin America.
For more information please visit:www.cwc.com
Image Available:http://www2.marketwire.com/mw/frame_mw?attachid=2894129 || How Bitcoins Have Evolved: CFTC Rules to Define Bitcoins as Commodities
Introduction of the bitcoin
The bitcoin, which made its debut in 2009, is often referred to as the world’s first decentralized digital currency, and it has the highest market capitalization when compared to its peers. Its invention is credited to Satoshi Nakamoto. Like other virtual currencies, bitcoins can be used as a form of payment.
Bitcoins are initially created by an activity known as mining, where a person who completes a specific online task is rewarded with bitcoins. As with any conventional currency, inflation affects bitcoins too, so a control process was set up so that the reward goes on decreasing over time for a work of similar difficulty. The major advantages of using bitcoin as a payment method includes anonymity, no taxes on sales through bitcoins, and low transaction costs.
Bitcoin price movements since inception
The Cyprus bailout in 2013 was a major break for bitcoins, as people tried to preserve their wealth before the bailout condition took effect by buying bitcoins. As a result, the bitcoin price nearly tripled in March 2013. After the Cyprus bailout, the bitcoin was trading nearly flat for some time, as virtual currencies like bitcoins were under the radar, as they began to be used for criminal activities.
The next major boost for the bitcoin came towards the end of 2013 with both the US Senate and the People’s Bank of China giving positive remarks about the virtual currency. This drove more investments, especially from China, as the bitcoin scaled all-time high levels in November 2013. In December 2013 however, the Chinese government took action to curb the increasing popularity of the bitcoin, as the official currency, the renminbi, was under pressure. The government banned financial institutions from the use of bitcoins.
After the Chinese governments’ measures, bitcoins failed to recover and have been on a downward trend since then. Part two of the series will look into the latest development in bitcoins with the CFTC (Commodity Futures Trading Commission) declaring bitcoins and other virtual currencies as commodities.
Market impact
Companies like WPCS International (WPCS) will be sensitive to updates on bitcoins, since they own a bitcoin trading platform. Other stocks that will be majorly impacted are pro bitcoin companies like Tesla Motors (TSLA), Zynga (ZNGA), and eBay (EBAY).
The registration process is ongoing for bitcoin ETFs with the Winklevoss Bitcoin Trust ETF (COIN) set to become the first bitcoin ETF if authorities approve it. The bitcoin ETF is expected to be similar to other commodity ETFs like the SPDR Gold Trust ETF (GLD) and the United States Oil Fund ETF (USO), which deal with gold and crude oil, respectively.
Continue to Next Part
Browse this series on Market Realist:
• Part 2 - CFTC Rules Bitcoins Be Regarded as Commodity || How Bitcoins Have Evolved: CFTC Rules to Define Bitcoins as Commodities Introduction of the bitcoin The bitcoin, which made its debut in 2009, is often referred to as the worlds first decentralized digital currency, and it has the highest market capitalization when compared to its peers. Its invention is credited to Satoshi Nakamoto. Like other virtual currencies, bitcoins can be used as a form of payment. Bitcoins are initially created by an activity known as mining, where a person who completes a specific online task is rewarded with bitcoins. As with any conventional currency, inflation affects bitcoins too, so a control process was set up so that the reward goes on decreasing over time for a work of similar difficulty. The major advantages of using bitcoin as a payment method includes anonymity, no taxes on sales through bitcoins, and low transaction costs. Bitcoin price movements since inception The Cyprus bailout in 2013 was a major break for bitcoins, as people tried to preserve their wealth before the bailout condition took effect by buying bitcoins. As a result, the bitcoin price nearly tripled in March 2013. After the Cyprus bailout, the bitcoin was trading nearly flat for some time, as virtual currencies like bitcoins were under the radar, as they began to be used for criminal activities. The next major boost for the bitcoin came towards the end of 2013 with both the US Senate and the Peoples Bank of China giving positive remarks about the virtual currency. This drove more investments, especially from China, as the bitcoin scaled all-time high levels in November 2013. In December 2013 however, the Chinese government took action to curb the increasing popularity of the bitcoin, as the official currency, the renminbi, was under pressure. The government banned financial institutions from the use of bitcoins. After the Chinese governments measures, bitcoins failed to recover and have been on a downward trend since then. Part two of the series will look into the latest development in bitcoins with the CFTC (Commodity Futures Trading Commission) declaring bitcoins and other virtual currencies as commodities. Story continues Market impact Companies like WPCS International (WPCS) will be sensitive to updates on bitcoins, since they own a bitcoin trading platform. Other stocks that will be majorly impacted are pro bitcoin companies like Tesla Motors (TSLA), Zynga (ZNGA), and eBay (EBAY). The registration process is ongoing for bitcoin ETFs with the Winklevoss Bitcoin Trust ETF (COIN) set to become the first bitcoin ETF if authorities approve it. The bitcoin ETF is expected to be similar to other commodity ETFs like the SPDR Gold Trust ETF (GLD) and the United States Oil Fund ETF (USO), which deal with gold and crude oil, respectively. Continue to Next Part Browse this series on Market Realist: Part 2 - CFTC Rules Bitcoins Be Regarded as Commodity || How Bitcoins Have Evolved: CFTC Rules to Define Bitcoins as Commodities
Introduction of the bitcoin
The bitcoin, which made its debut in 2009, is often referred to as the world’s first decentralized digital currency, and it has the highest market capitalization when compared to its peers. Its invention is credited to Satoshi Nakamoto. Like other virtual currencies, bitcoins can be used as a form of payment.
Bitcoins are initially created by an activity known as mining, where a person who completes a specific online task is rewarded with bitcoins. As with any conventional currency, inflation affects bitcoins too, so a control process was set up so that the reward goes on decreasing over time for a work of similar difficulty. The major advantages of using bitcoin as a payment method includes anonymity, no taxes on sales through bitcoins, and low transaction costs.
Bitcoin price movements since inception
The Cyprus bailout in 2013 was a major break for bitcoins, as people tried to preserve their wealth before the bailout condition took effect by buying bitcoins. As a result, the bitcoin price nearly tripled in March 2013. After the Cyprus bailout, the bitcoin was trading nearly flat for some time, as virtual currencies like bitcoins were under the radar, as they began to be used for criminal activities.
The next major boost for the bitcoin came towards the end of 2013 with both the US Senate and the People’s Bank of China giving positive remarks about the virtual currency. This drove more investments, especially from China, as the bitcoin scaled all-time high levels in November 2013. In December 2013 however, the Chinese government took action to curb the increasing popularity of the bitcoin, as the official currency, the renminbi, was under pressure. The government banned financial institutions from the use of bitcoins.
After the Chinese governments’ measures, bitcoins failed to recover and have been on a downward trend since then. Part two of the series will look into the latest development in bitcoins with the CFTC (Commodity Futures Trading Commission) declaring bitcoins and other virtual currencies as commodities.
Market impact
Companies like WPCS International (WPCS) will be sensitive to updates on bitcoins, since they own a bitcoin trading platform. Other stocks that will be majorly impacted are pro bitcoin companies like Tesla Motors (TSLA), Zynga (ZNGA), and eBay (EBAY).
The registration process is ongoing for bitcoin ETFs with the Winklevoss Bitcoin Trust ETF (COIN) set to become the first bitcoin ETF if authorities approve it. The bitcoin ETF is expected to be similar to other commodity ETFs like the SPDR Gold Trust ETF (GLD) and the United States Oil Fund ETF (USO), which deal with gold and crude oil, respectively.
Continue to Next Part
Browse this series on Market Realist:
• Part 2 - CFTC Rules Bitcoins Be Regarded as Commodity || Medical Marijuana May Help Transplant Patients: In recent years, the use case for marijuana for medicinal reasons has expanded exponentially. As the drug becomes widely accepted across the US, more research has been done to better understand the effects of marijuana on certain ailments. Everything from Alzheimer's to Epilepsy is said to benefit from the components of a marijuana plant and now a new study shows that the drug which has long disqualified patients from receiving a transplant could actually aid in their recovery. Mouse Study Scientists at the University of South Carolina have found that Tetrahyrodcannabinol, the psychoactive component of marijuana, may help to delay the rejection of organs in transplant patients. The study examined the effects of THC on mice that received skin grafts and found that those exposed to the drug were better able to accept a foreign graft. Related Link: Marijuana-Specific Doctors Can Make It Difficult To Take Medical Marijuana Seriously New Uses Based on this data, scientists believe that THC suppresses a patient's immune response, something that could prove beneficial for transplant patients or those struggling with other inflammatory diseases. For marijuana supporters, the data represents another reason why federal laws should be relaxed in order to make studies like this one more accessible. Still Some Concerns Much like many other studies touting the effectiveness of marijuana treatments, the scientists at the University of South Carolina cautioned that the results don't tell the whole story. So much is unknown about how marijuana affects the human body that the possibility of using THC in this capacity for humans any time soon is slim. However, it illuminates a new use case and will likely encourage researchers to continue finding ways to use marijuana components to fight illnesses and improve patients' quality of life. See more from Benzinga Netflix Viewing Stats Reveal That All Shows Aren't Created Equally Charlie Shrem Weighs In On Bitcoin From His Prison Cell China's Weakness Isn't All Bad © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Medical Marijuana May Help Transplant Patients: In recent years, the use case for marijuana for medicinal reasons has expanded exponentially. As the drug becomes widely accepted across the US, more research has been done to better understand the effects of marijuana on certain ailments.
Everything from Alzheimer's to Epilepsy is said to benefit from the components of a marijuana plant and now a newstudyshows that the drug which has long disqualified patients from receiving a transplant could actually aid in their recovery.
Mouse Study
Scientists at the University of South Carolina have found that Tetrahyrodcannabinol, the psychoactive component of marijuana, may help to delay the rejection of organs in transplant patients. The study examined the effects of THC on mice that received skin grafts and found that those exposed to the drug were better able to accept a foreign graft.
Related Link:Marijuana-Specific Doctors Can Make It Difficult To Take Medical Marijuana Seriously
New Uses
Based on this data, scientists believe that THC suppresses a patient's immune response, something that could prove beneficial for transplant patients or those struggling with other inflammatory diseases. For marijuana supporters, the data represents another reason why federal laws should be relaxed in order to make studies like this one more accessible.
Still Some Concerns
Much like many other studies touting the effectiveness of marijuana treatments, the scientists at the University of South Carolina cautioned that the results don't tell the whole story. So much is unknown about how marijuana affects the human body that the possibility of using THC in this capacity for humans any time soon is slim. However, it illuminates a new use case and will likely encourage researchers to continue finding ways to use marijuana components to fight illnesses and improve patients' quality of life.
See more from Benzinga
• Netflix Viewing Stats Reveal That All Shows Aren't Created Equally
• Charlie Shrem Weighs In On Bitcoin From His Prison Cell
• China's Weakness Isn't All Bad
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
[Social Media Buzz]
One Bitcoin now worth $237.77@bitstamp. High $239.06. Low $235.00. Market Cap $ 0.000 Billion #bitcoin pic.twitter.com/BarXzGcIJo || Current price: 211.33€ $BTCEUR $btc #bitcoin 2015-10-02 09:00:02 CEST || Current price: 210.71€ $BTCEUR $btc #bitcoin 2015-10-02 21:00:07 CEST || #RDD / #BTC on the exchanges:
Cryptsy: 0.00000004
Bittrex: 0.00000005
Average $1.0E-5 per #reddcoin
00:00:00 || 【最新ニュース】
「時間」に裏づけされたビットコイン(09/29 12:00)
http://news.bitflyer.jp/news/time-bitcoin-value/ … #ビットコイン #BitCoin #...
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238.73, 238.26, 240.38, 246.06, 242.97, 242.30, 243.93, 244.94, 247.05, 245.31
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Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 51679.80, 55888.13, 56099.52, 57539.95, 54207.32, 48824.43, 49705.33, 47093.85, 46339.76, 46188.45, 45137.77, 49631.24, 48378.99, 50538.24, 48561.17, 48927.30, 48912.38, 51206.69, 52246.52, 54824.12, 56008.55, 57805.12, 57332.09, 61243.09, 59302.32, 55907.20, 56804.90, 58870.89, 57858.92, 58346.65, 58313.64, 57523.42, 54529.14, 54738.95, 52774.27, 51704.16, 55137.31, 55973.51, 55950.75, 57750.20, 58917.69, 58918.83, 59095.81, 59384.31, 57603.89, 58758.55, 59057.88, 58192.36, 56048.94, 58323.95, 58245.00, 59793.23, 60204.96, 59893.45, 63503.46, 63109.70, 63314.01, 61572.79, 60683.82, 56216.18, 55724.27, 56473.03, 53906.09, 51762.27, 51093.65, 50050.87, 49004.25, 54021.75, 55033.12, 54824.70, 53555.11, 57750.18, 57828.05, 56631.08, 57200.29, 53333.54, 57424.01, 56396.52, 57356.40, 58803.78, 58232.32, 55859.80, 56704.57, 49150.54, 49716.19, 49880.54, 46760.19, 46456.06, 43537.51, 42909.40.
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[Bitcoin Technical Analysis for 2021-05-18]
Volume: 56187365084, RSI (14-day): 29.26, 50-day EMA: 53501.31, 200-day EMA: 42206.29
[Wider Market Context]
Gold Price: 1867.80, Gold RSI: 72.44
Oil Price: 65.49, Oil RSI: 56.45
[Recent News (last 7 days)]
Bitcoin posts record weekly outflows as gains stall - CoinShares data: By Gertrude Chavez-Dreyfuss
NEW YORK (Reuters) - Bitcoin hit record outflows last week, as investors diversified into cryptocurrency assets with new developments in their specific network such as ethereum, data from digital currency manager CoinShares showed on Monday.
Outflows for bitcoin products and funds totaled $98 million, or 0.2% of total assets under management. For the year, total bitcoin inflows amounted to $4.3 billion. In 2020, investors pumped $15.6 billion into bitcoin products and funds, while ethereum inflows reached nearly $2.5 billion, data showed.
Since hitting a record just under $65,000 in mid-April, bitcoin's price has fallen 35%. Bitcoin was down 5.2% at $44,073, driven by tweets from Tesla Inc. chief Elon Musk.
"While it only represented 0.2% of AUM, last week's largest-ever outflows from bitcoin investment products is noteworthy," said Matt Weller, global head of market research at Forex.com.
"Bitcoin's perceived environmental costs are becoming a bigger and bigger part of the narrative, boosting the relative appeal of ethereum and its upcoming transition to the less energy-intense proof-of-stake security model," he added.
Ethereum, the second-largest cryptocurrency in terms of market capitalization, continued to post solid inflows of $26.5 million last week, with a total of $910 million so far this year.
The cryptocurrency has been bolstered by the surge in usage of ethereum-based decentralized finance applications, which facilitate crypto-denominated lending outside traditional banking.
Ethereum hit a record high of $4,380.64 last week but was last down 6.3% at $3,358. It has gained about 355% in 2021.
All other digital asset investment products saw inflows as well in the latest week, such as Cardano and Polkadot.
Grayscale remains the largest digital currency manager, with $47.268 billion in assets, down from $49.3 billion at the end of April.
CoinShares, the second-biggest and largest European digital asset manager, oversaw about $6 billion as of last week, up from $5.8 billion in late April.
(Reporting by Gertrude Chavez-Dreyfuss; Editing by Cynthia Osterman) || Bitcoin posts record weekly outflows as gains stall - CoinShares data: By Gertrude Chavez-Dreyfuss
NEW YORK (Reuters) - Bitcoin hit record outflows last week, as investors diversified into cryptocurrency assets with new developments in their specific network such as ethereum, data from digital currency manager CoinShares showed on Monday.
Outflows for bitcoin products and funds totaled $98 million, or 0.2% of total assets under management. For the year, total bitcoin inflows amounted to $4.3 billion. In 2020, investors pumped $15.6 billion into bitcoin products and funds, while ethereum inflows reached nearly $2.5 billion, data showed.
Since hitting a record just under $65,000 in mid-April, bitcoin's price has fallen 35%. Bitcoin was down 5.2% at $44,073, driven by tweets from Tesla Inc. chief Elon Musk.
"While it only represented 0.2% of AUM, last week's largest-ever outflows from bitcoin investment products is noteworthy," said Matt Weller, global head of market research at Forex.com.
"Bitcoin's perceived environmental costs are becoming a bigger and bigger part of the narrative, boosting the relative appeal of ethereum and its upcoming transition to the less energy-intense proof-of-stake security model," he added.
Ethereum, the second-largest cryptocurrency in terms of market capitalization, continued to post solid inflows of $26.5 million last week, with a total of $910 million so far this year.
The cryptocurrency has been bolstered by the surge in usage of ethereum-based decentralized finance applications, which facilitate crypto-denominated lending outside traditional banking.
Ethereum hit a record high of $4,380.64 last week but was last down 6.3% at $3,358. It has gained about 355% in 2021.
All other digital asset investment products saw inflows as well in the latest week, such as Cardano and Polkadot.
Grayscale remains the largest digital currency manager, with $47.268 billion in assets, down from $49.3 billion at the end of April.
CoinShares, the second-biggest and largest European digital asset manager, oversaw about $6 billion as of last week, up from $5.8 billion in late April.
(Reporting by Gertrude Chavez-Dreyfuss; Editing by Cynthia Osterman) || Bitcoin posts record weekly outflows as gains stall - CoinShares data: By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - Bitcoin hit record outflows last week, as investors diversified into cryptocurrency assets with new developments in their specific network such as ethereum, data from digital currency manager CoinShares showed on Monday. Outflows for bitcoin products and funds totaled $98 million, or 0.2% of total assets under management. For the year, total bitcoin inflows amounted to $4.3 billion. In 2020, investors pumped $15.6 billion into bitcoin products and funds, while ethereum inflows reached nearly $2.5 billion, data showed. Since hitting a record just under $65,000 in mid-April, bitcoin's price has fallen 35%. Bitcoin was down 5.2% at $44,073, driven by tweets from Tesla Inc. chief Elon Musk. "While it only represented 0.2% of AUM, last week's largest-ever outflows from bitcoin investment products is noteworthy," said Matt Weller, global head of market research at Forex.com. "Bitcoin's perceived environmental costs are becoming a bigger and bigger part of the narrative, boosting the relative appeal of ethereum and its upcoming transition to the less energy-intense proof-of-stake security model," he added. Ethereum, the second-largest cryptocurrency in terms of market capitalization, continued to post solid inflows of $26.5 million last week, with a total of $910 million so far this year. The cryptocurrency has been bolstered by the surge in usage of ethereum-based decentralized finance applications, which facilitate crypto-denominated lending outside traditional banking. Ethereum hit a record high of $4,380.64 last week but was last down 6.3% at $3,358. It has gained about 355% in 2021. All other digital asset investment products saw inflows as well in the latest week, such as Cardano and Polkadot. Grayscale remains the largest digital currency manager, with $47.268 billion in assets, down from $49.3 billion at the end of April. CoinShares, the second-biggest and largest European digital asset manager, oversaw about $6 billion as of last week, up from $5.8 billion in late April. (Reporting by Gertrude Chavez-Dreyfuss; Editing by Cynthia Osterman) || GLOBAL MARKETS-Stocks fall as tech shares weigh; gold rises to more than 3-month high: * U.S. stocks end lower
* Gold climbs, dollar weakens
* All eyes on Federal Reserve later in the week (New throughout, adds closing U.S. market levels)
By Caroline Valetkevitch
NEW YORK, May 17 (Reuters) - Stock indexes edged lower globally on Monday, with technology shares weighing the most on the benchmark U.S. S&P 500 index, while gold prices hit their highest in more than three months as investors sought safety.
U.S. Treasury yields, however, traded little changed even after a report showing the highest prices ever paid in a May manufacturing survey for New York State.
The Empire State Manufacturing Survey, produced by the New York Fed, showed the prices paid index rose to a record 83.5, the highest since the data series began in 2001, said Tom Simons, money market economist at Jefferies & Co.
The S&P 500 technology sector was down 0.7% and the biggest drag on the benchmark index. Wall Street's declines also follow the S&P 500's biggest one-day jump in more than a month on Friday.
While the week is expected to be relatively quiet for economic data, investors will be anxious to see minutes on Wednesday from the Federal Reserve's policy meeting last month, which could shed more light on the policymakers' outlook on an economic rebound.
"The Fed has been pretty consistent in its message that it's going to be quite tolerant of inflation, it's not going to cause them to raise rates prematurely or pull back on asset purchases," Simons said.
The spread of the coronavirus was also a drag in some markets, with Singapore reporting the highest number of local infections in months and Taiwan seeing a spike in cases.
The Dow Jones Industrial Average fell 54.34 points, or 0.16%, to 34,327.79, the S&P 500 lost 10.56 points, or 0.25%, to 4,163.29 and the Nasdaq Composite dropped 50.93 points, or 0.38%, to 13,379.05.
The pan-European STOXX 600 index lost 0.05% and MSCI's gauge of stocks across the globe shed 0.09%.
In the Treasury market, the yield on benchmark 10-year U.S. Treasury notes was near flat at 1.65%, well below a spike to 1.77% in late March.
The dollar weakened slightly as inflation worries supported riskier currencies at the greenback's expense.
The dollar index fell 0.082%, with the euro unchanged at $1.2151.
Bitcoin dropped to a three-month low after Tesla Inc boss Elon Musk suggested over the weekend that the electric automaker may have already sold some of its holdings in the digital currency.
Oil prices climbed. Brent crude rose 1.1% to settle at $69.46 a barrel, while West Texas Intermediate (WTI) crude gained 1.4% to settle at $66.27.
Spot gold jumped 1.3% to $1,866.84 per ounce, after hitting its highest since Feb. 1 at $1,868.26.
(Additional reporting by Simon Jessop in London; Sumita Layek in Bengaluru; and Herbert Lash and Stephen Culp in New York; editing by Kirsten Donovan, Nick Macfie, Ed Osmond, Cynthia Osterman and Dan Grebler) || GLOBAL MARKETS-Stocks fall as tech shares weigh; gold rises to more than 3-month high: * U.S. stocks end lower * Gold climbs, dollar weakens * All eyes on Federal Reserve later in the week (New throughout, adds closing U.S. market levels) By Caroline Valetkevitch NEW YORK, May 17 (Reuters) - Stock indexes edged lower globally on Monday, with technology shares weighing the most on the benchmark U.S. S&P 500 index, while gold prices hit their highest in more than three months as investors sought safety. U.S. Treasury yields, however, traded little changed even after a report showing the highest prices ever paid in a May manufacturing survey for New York State. The Empire State Manufacturing Survey, produced by the New York Fed, showed the prices paid index rose to a record 83.5, the highest since the data series began in 2001, said Tom Simons, money market economist at Jefferies & Co. The S&P 500 technology sector was down 0.7% and the biggest drag on the benchmark index. Wall Street's declines also follow the S&P 500's biggest one-day jump in more than a month on Friday. While the week is expected to be relatively quiet for economic data, investors will be anxious to see minutes on Wednesday from the Federal Reserve's policy meeting last month, which could shed more light on the policymakers' outlook on an economic rebound. "The Fed has been pretty consistent in its message that it's going to be quite tolerant of inflation, it's not going to cause them to raise rates prematurely or pull back on asset purchases," Simons said. The spread of the coronavirus was also a drag in some markets, with Singapore reporting the highest number of local infections in months and Taiwan seeing a spike in cases. The Dow Jones Industrial Average fell 54.34 points, or 0.16%, to 34,327.79, the S&P 500 lost 10.56 points, or 0.25%, to 4,163.29 and the Nasdaq Composite dropped 50.93 points, or 0.38%, to 13,379.05. The pan-European STOXX 600 index lost 0.05% and MSCI's gauge of stocks across the globe shed 0.09%. In the Treasury market, the yield on benchmark 10-year U.S. Treasury notes was near flat at 1.65%, well below a spike to 1.77% in late March. The dollar weakened slightly as inflation worries supported riskier currencies at the greenback's expense. The dollar index fell 0.082%, with the euro unchanged at $1.2151. Bitcoin dropped to a three-month low after Tesla Inc boss Elon Musk suggested over the weekend that the electric automaker may have already sold some of its holdings in the digital currency. Oil prices climbed. Brent crude rose 1.1% to settle at $69.46 a barrel, while West Texas Intermediate (WTI) crude gained 1.4% to settle at $66.27. Story continues Spot gold jumped 1.3% to $1,866.84 per ounce, after hitting its highest since Feb. 1 at $1,868.26. (Additional reporting by Simon Jessop in London; Sumita Layek in Bengaluru; and Herbert Lash and Stephen Culp in New York; editing by Kirsten Donovan, Nick Macfie, Ed Osmond, Cynthia Osterman and Dan Grebler) View comments || Riot Blockchain Reports Record First Quarter 2021 Financial Results, Current Operational and Financial Highlights: Castle Rock, CO, May 17, 2021 (GLOBE NEWSWIRE) -- Riot Blockchain, Inc. (NASDAQ: RIOT) ("Riot" or the "Company"), one of the leading Nasdaq-listed public Bitcoin (“BTC”) mining companies in the United States, reported financial results as of and for the three-months ended March 31, 2021. The unaudited financial statements are available on Riot's website and here . Increased mining revenue by 881.1% to $23.2 million for the three-month period ended March 31, 2021, as compared to $2.4 million for the same three-month period in 2020. Increased mining revenue margin to 67.5% for the three-month period ended March 31, 2021, as compared to 40.4% for the same three-month period in 2020. Produced record net income of $7.5 million, or $0.09 per share for the three-month period ended March 31, 2021, as compared to a $(4.3) million net loss, or $(0.15) per share, for the same three-month period in 2020. Achieved a record net income margin of 32.5% for the three-month period ended March 31, 2021. Increased total cash and Bitcoin to $275.6 million, as compared to $235.0 million as of December 31, 2020. “We are extremely pleased with Riot’s record quarterly financial results, which builds upon a transformative 2020,” said Jason Les, Riot’s CEO. “The Company’s improved financial results are a direct result of Riot’s absolute focus on Bitcoin mining and growing its mining operations. With the signing of the definitive agreement to acquire Whinstone US, the Company’s financial and operational prospects are very exciting. We plan to amplify our focus on initiatives that will drive continued growth for the Company, increasing the US-based share of the Bitcoin mining landscape.” First Quarter 2021 and Recent Financial Highlights Riot continues to attain significant milestones, driven by its focus on Bitcoin mining. Reported a Company record $7.5 million in net income for the three-month period ended March 31, 2021, as compared to a $(4.3) million net loss for the same three-month period in 2020. Increased mining revenues by 881.1%, to $23.2 million for the three-month period ended March 31, 2021, as compared to $2.4 million for the same three-month period in 2020. Increased mining revenue margin, excluding depreciation and amortization, to 67.5% for the three-month period ended March 31, 2021, as compared to 40.4% for the same three-month period in 2020. Increased total mined BTC by 62.0% on a sequential quarter-over-quarter basis, with 491 BTC mined in the first quarter of 2021, as compared to 303 BTC mined in the fourth quarter of 2020. Completed the first quarter of 2021 with record current assets and zero debt, with $275.6 million in cash and BTC as reported on the balance sheet. In addition, as of April 30, 2021, the Company’s unaudited BTC balance stood at 1,771 BTC, all of which were produced by its mining operations. The average BTC price used to calculate Riot’s first quarter 2021 mining revenues was approximately $46,700. Story continues First Quarter 2021 and Recent Operational Highlights Announced the signing of a definitive agreement to acquire Whinstone US, Inc. (“Whinstone”) to create a leading US-based corporate pillar in support of the Bitcoin mining network. Whinstone owns and operates North America’s largest Bitcoin mining facility, with 300 MW in developed capacity and an attractive long-term power purchase agreement. Upon closing, Riot will be one of the largest publicly traded Bitcoin mining companies operating in North America, as measured by developed capacity. The transaction is expected to close in the second quarter of 2021, subject to the satisfaction or waiver of customary closing conditions, including receipt of required regulatory clearances. Strengthened the Company’s management team by appointing Jason Les to Chief Executive Officer and Megan Brooks to Chief Operating Officer, and hiring Ryan Werner as Vice President, Finance and Phil McPherson as Vice President, Capital Markets. During the three-month period ended March 31, 2021, Riot received 6,703 S19 Pro Antminers as per purchase contracts with Bitmain previously announced in 2020, resulting in a total of 13,746 miners deployed as of March 31, 2021. Subsequent to March 31, 2021, the Company received a further 8,900 S19 Pro Antminers as per purchase contracts with Bitmain previously announced in 2020. When fully deployed, Riot’s fleet will increase to 22,646 miners with an estimated hash rate capacity of 2.3 exahash per second (“EH/S”). During 2021, the Company entered into additional purchase agreements with Bitmain for the purchase of 43,500 Antminer S19j (90 Terahash per second) (“TH/s”) miners for a total purchase price of $145.7 million. Once fully deployed, Riot’s hash rate capacity is estimated to reach 7.7 EH/s in the fourth quarter of 2022. First Quarter 2021 Financial Results Mining margin, computed as mining revenues in excess of cost of revenues (excluding depreciation and amortization which is separately stated), was $15.6 million (67.5% of total revenue), which compares to $1.0 million for the same three-month period in 2020. The improvements in revenue and gross profit were primarily due to changes in the price of Bitcoin, combined with the greater number and higher efficiencies of the new generation miners deployed in 2021, net of increases in the difficulty index associated with solving BTC mining algorithms. Selling, general, and administrative ("SG&A") expenses increased 46.2% to $5.5 million, as compared to $3.7 million for the same three-month period in 2020. The increase in SG&A expenses was primarily due to professional fees associated with transaction expenses of approximately $2.4 million incurred during the first quarter of 2021. Excluding transaction expenses, recurring SG&A expenses would have totalled $3.1 million. Net income for the quarter ended March 31, 2021 was $7.5 million, or $0.09 per share, as compared to a net loss of $(4.3) million, or $(0.15) per share, in the same period last year. At March 31, 2020, the Company reported $275.6 million in cash and Bitcoin, as compared to $235.0 million at December 31, 2020. Hash Rate Growth During Q4 2022, Riot anticipates achieving a total hash rate capacity of 7.7 EH/s, assuming full deployment of its anticipated fleet of approximately 81,146 Antminers acquired from Bitmain, 95% of which will be the latest generation S19 series model of miners. When fully deployed, the Company’s total fleet is expected to consume approximately 257.6 MW of energy with an overall hash rate efficiency of 33 joules per terahash (J/TH). This demonstrates Riot’s commitment to being a market leader by building one of the largest and most efficient Bitcoin mining fleets in the industry. About Riot Blockchain, Inc. Riot Blockchain (NASDAQ: RIOT) focuses on cryptocurrency mining of Bitcoin. The Company is expanding and upgrading its mining operations by securing the most energy efficient miners currently available. Riot is headquartered in Castle Rock, Colorado, and the Company’s mining operations are located in upstate New York, under a co-location hosting agreement with Coinmint. For more information, visit www.RiotBlockchain.com . Safe Harbor The information provided in this press release may include forward-looking statements relating to future events or the future financial performance of the Company. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Words such as "anticipates," “believes,” "plans," "expects," "intends," "will," "potential," "hope" and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon current expectations of the Company and involve assumptions that may never materialize or may prove to be incorrect. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties. Detailed information regarding factors that may cause actual results to differ materially from the results expressed or implied by statements in this press release relating to the Company may be found in the Company's periodic filings with the U.S. Securities and Exchange Commission (the “SEC”), including the factors described in the sections entitled "Risk Factors" and “Cautionary Note Regarding Forward-Looking Statements” of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020, which was filed with the SEC on March 31, 2021, copies of which may be obtained from the SEC's website at www.sec.gov . The Company does not undertake any obligation to update forward-looking statements contained in this press release. Attachment miner order CONTACT: Investor Contact - Phil McPherson Riot Blockchain, Inc. 303-794-2000 ext. 110 IR@riotblockchain.com PR Contact Riot Blockchain, Inc. PR@riotblockchain.com || Riot Blockchain Reports Record First Quarter 2021 Financial Results, Current Operational and Financial Highlights: Castle Rock, CO, May 17, 2021 (GLOBE NEWSWIRE) --Riot Blockchain, Inc. (NASDAQ: RIOT) ("Riot" or the "Company"),one of the leading Nasdaq-listed public Bitcoin (“BTC”) mining companies in the United States, reported financial results as of and for the three-months ended March 31, 2021. The unaudited financial statements are available on Riot'swebsiteandhere.
• Increased mining revenue by 881.1% to $23.2 million for the three-month period ended March 31, 2021, as compared to $2.4 million for the same three-month period in 2020.
• Increased mining revenue margin to 67.5% for the three-month period ended March 31, 2021, as compared to 40.4% for the same three-month period in 2020.
• Produced record net income of $7.5 million, or $0.09 per share for the three-month period ended March 31, 2021, as compared to a $(4.3) million net loss, or $(0.15) per share, for the same three-month period in 2020.
• Achieved a record net income margin of 32.5% for the three-month period ended March 31, 2021.
• Increased total cash and Bitcoin to $275.6 million, as compared to $235.0 million as of December 31, 2020.
“We are extremely pleased with Riot’s record quarterly financial results, which builds upon a transformative 2020,” said Jason Les, Riot’s CEO. “The Company’s improved financial results are a direct result of Riot’s absolute focus on Bitcoin mining and growing its mining operations. With the signing of the definitive agreement to acquire Whinstone US, the Company’s financial and operational prospects are very exciting. We plan to amplify our focus on initiatives that will drive continued growth for the Company, increasing the US-based share of the Bitcoin mining landscape.”
First Quarter 2021 and Recent Financial Highlights
Riot continues to attain significant milestones, driven by its focus on Bitcoin mining.
• Reported a Company record $7.5 million in net income for the three-month period ended March 31, 2021, as compared to a $(4.3) million net loss for the same three-month period in 2020.
• Increased mining revenues by 881.1%, to $23.2 million for the three-month period ended March 31, 2021, as compared to $2.4 million for the same three-month period in 2020.
• Increased mining revenue margin, excluding depreciation and amortization, to 67.5% for the three-month period ended March 31, 2021, as compared to 40.4% for the same three-month period in 2020.
• Increased total mined BTC by 62.0% on a sequential quarter-over-quarter basis, with 491 BTC mined in the first quarter of 2021, as compared to 303 BTC mined in the fourth quarter of 2020.
• Completed the first quarter of 2021 with record current assets and zero debt, with $275.6 million in cash and BTC as reported on the balance sheet. In addition, as of April 30, 2021, the Company’s unaudited BTC balance stood at 1,771 BTC, all of which were produced by its mining operations.
• The average BTC price used to calculate Riot’s first quarter 2021 mining revenues was approximately $46,700.
First Quarter 2021 and Recent Operational Highlights
• Announced the signing of a definitive agreement to acquire Whinstone US, Inc. (“Whinstone”) to create a leading US-based corporate pillar in support of the Bitcoin mining network. Whinstone owns and operates North America’s largest Bitcoin mining facility, with 300 MW in developed capacity and an attractive long-term power purchase agreement. Upon closing, Riot will be one of the largest publicly traded Bitcoin mining companies operating in North America, as measured by developed capacity. The transaction is expected to close in the second quarter of 2021, subject to the satisfaction or waiver of customary closing conditions, including receipt of required regulatory clearances.
• Strengthened the Company’s management team by appointing Jason Les to Chief Executive Officer and Megan Brooks to Chief Operating Officer, and hiring Ryan Werner as Vice President, Finance and Phil McPherson as Vice President, Capital Markets.
• During the three-month period ended March 31, 2021, Riot received 6,703 S19 Pro Antminers as per purchase contracts with Bitmain previously announced in 2020, resulting in a total of 13,746 miners deployed as of March 31, 2021.
• Subsequent to March 31, 2021, the Company received a further 8,900 S19 Pro Antminers as per purchase contracts with Bitmain previously announced in 2020. When fully deployed, Riot’s fleet will increase to 22,646 miners with an estimated hash rate capacity of 2.3 exahash per second (“EH/S”).
• During 2021, the Company entered into additional purchase agreements with Bitmain for the purchase of 43,500 Antminer S19j (90 Terahash per second) (“TH/s”) miners for a total purchase price of $145.7 million. Once fully deployed, Riot’s hash rate capacity is estimated to reach 7.7 EH/s in the fourth quarter of 2022.
First Quarter 2021 Financial Results
Mining margin, computed as mining revenues in excess of cost of revenues (excluding depreciation and amortization which is separately stated), was $15.6 million (67.5% of total revenue), which compares to $1.0 million for the same three-month period in 2020. The improvements in revenue and gross profit were primarily due to changes in the price of Bitcoin, combined with the greater number and higher efficiencies of the new generation miners deployed in 2021, net of increases in the difficulty index associated with solving BTC mining algorithms.
Selling, general, and administrative ("SG&A") expenses increased 46.2% to $5.5 million, as compared to $3.7 million for the same three-month period in 2020. The increase in SG&A expenses was primarily due to professional fees associated with transaction expenses of approximately $2.4 million incurred during the first quarter of 2021. Excluding transaction expenses, recurring SG&A expenses would have totalled $3.1 million.
Net income for the quarter ended March 31, 2021 was $7.5 million, or $0.09 per share, as compared to a net loss of $(4.3) million, or $(0.15) per share, in the same period last year.
At March 31, 2020, the Company reported $275.6 million in cash and Bitcoin, as compared to $235.0 million at December 31, 2020.
Hash Rate Growth
During Q4 2022, Riot anticipates achieving a total hash rate capacity of 7.7 EH/s, assuming full deployment of its anticipated fleet of approximately 81,146 Antminers acquired from Bitmain, 95% of which will be the latest generation S19 series model of miners. When fully deployed, the Company’s total fleet is expected to consume approximately 257.6 MW of energy with an overall hash rate efficiency of 33 joules per terahash (J/TH). This demonstrates Riot’s commitment to being a market leader by building one of the largest and most efficient Bitcoin mining fleets in the industry.
About Riot Blockchain, Inc.
Riot Blockchain (NASDAQ: RIOT) focuses on cryptocurrency mining of Bitcoin. The Company is expanding and upgrading its mining operations by securing the most energy efficient miners currently available. Riot is headquartered in Castle Rock, Colorado, and the Company’s mining operations are located in upstate New York, under a co-location hosting agreement with Coinmint. For more information, visitwww.RiotBlockchain.com.
Safe Harbor
The information provided in this press release may include forward-looking statements relating to future events or the future financial performance of the Company. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Words such as "anticipates," “believes,” "plans," "expects," "intends," "will," "potential," "hope" and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon current expectations of the Company and involve assumptions that may never materialize or may prove to be incorrect. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties. Detailed information regarding factors that may cause actual results to differ materially from the results expressed or implied by statements in this press release relating to the Company may be found in the Company's periodic filings with the U.S. Securities and Exchange Commission (the “SEC”), including the factors described in the sections entitled "Risk Factors" and “Cautionary Note Regarding Forward-Looking Statements” of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020, which was filed with the SEC on March 31, 2021, copies of which may be obtained from the SEC's website atwww.sec.gov. The Company does not undertake any obligation to update forward-looking statements contained in this press release.
Attachment
• miner order
CONTACT: Investor Contact - Phil McPherson Riot Blockchain, Inc. 303-794-2000 ext. 110 IR@riotblockchain.com PR Contact Riot Blockchain, Inc. PR@riotblockchain.com || What is SafeMoon? Your guide to the cosmic-themed cryptocurrency: A relatively new cryptocurrency is trying to reach the moon, like Bitcoin, Ethereum, and Dogecoin before it.
SafeMoon, which debuted in March, has received increased buzz recently, based on a pitch that it will avoid the wild price fluctuations endemic to Bitcoin, Ethereum, and more recently, Dogecoin.
So far, 2 million people have bought SafeMoon, according to the currency's creators. Its price is a fraction of a cent—$.000007— but that's up 202% in the past month as cryptocurrencies across the board have soared in value.
Compared to more established coins, SafeMoon is a piker. Its market cap is $4.1 billion, versus $792.3 billion for Bitcoin (price: $42,584) and $365.1 billion for Ethereum (price: $3,168).
Critics of SafeMoon complain that there’s not enough information about it or how it can be used.
But SafeMoon does fill what seems like a bottomless appetite for cryptocurrencies. The value of Dogecoin,which received a massive boost from Tesla CEO Elon Musk, recently exploded in value. Other like Shiba Inu,another dog-themed cryptocurrency, and Internet Computer,which debuted last week, have also gained traction.
Here’s what we know about SafeMoon.
SafeMoon is another digital currency similar to Bitcoin and Ethereum, with a couple of key differences. Its creators say they want to fix some of the problems—like price volatility—that are common in other digital coins. To do this, SafeMoon aims to discourage day trading of its coin and to reward long-term holders by charging a 10% fee on each sale. Half of the fees collected are earmarked for existing coin owners, who receive a sort of dividend in the form of additional coins.
“The goal here is to prevent the larger dips when whales decide to sell their tokens later in the game, which keeps the price from fluctuating as much,” SafeMoon said in explaining its currency, using the term for investors who hold large amounts of digital coins.
SafeMoon also says it opts for manual burns versus continuous burns, which is when digital coins are purposefully removed from circulation. Manual burns, according to the creators, give SafeMoon more control over the coin's supply. Less supply with increasing demand would increase the coin's price.
SafeMoon lists a team of six leaders. At the top is CEO John Karony, who previously served as an analyst for the U.S. Department of Defense, according to his LinkedIn profile. He, along with SafeMoon’s chief technology officer Thomas Smith and community manager Trevor Church, is also working on an independent video game studio called TANO, an acronym for "technically a new operation."
Smith has spent the past two years working with different organizations on blockchain and decentralized financial products. SafeMoon’s chief operating officer, Jack Haines-Davies, based in the United Kingdom, lists two companies on LinkedIn, LikeandShare and Ben Phillips Global, as his former employers. It’s unclear what those companies do.
SafeMoon has laid out a road map for the year. In the first quarter, the company said that it had doubled the size of its team and begun a marketing campaign. Next the company plans to complete a SafeMoon app (though it's unclear what that app will do), a wallet, and games. It also says it plans to explore allowing trading of its currency on exchanges like Binance, begin building its own exchange, expand its team by 35%, and establish a U.K./Ireland office. In the last half of the year, the company said it plans to finish its SafeMoon Exchange and open an African-based SafeMoon office.
The lofty plans have some skeptics raising their eyebrows at SafeMoon, especially as the price rises.
For example, a [hotlink]Twitter[/hotlink] account called WarOnRugs, which identifies itself as a "community based, grassroots movement" that aims to expose crypto scams,criticized SafeMoon last month.
"Owner owns more than 50% of the liquidity and refuses to fix it," the account tweeted. "He could pull LP and sell tokens, creating a rug pull [meaning an exit scam]. Likeliness of losing all funds: Absolute."
Crypto analyst and investor Lark Davis echoed the sentiment last month,comparing SafeMoon to BitConnect, an investment platform that ended up being a Ponzi scheme. "Remember just because you make money off of a ponzi does not change the fact that it is a ponzi,"he tweeted.
This story was originally featured onFortune.com || What is SafeMoon? Your guide to the cosmic-themed cryptocurrency: A relatively new cryptocurrency is trying to reach the moon, like Bitcoin, Ethereum, and Dogecoin before it. SafeMoon, which debuted in March, has received increased buzz recently, based on a pitch that it will avoid the wild price fluctuations endemic to Bitcoin, Ethereum, and more recently, Dogecoin. So far, 2 million people have bought SafeMoon, according to the currency's creators. Its price is a fraction of a cent—$.000007— but that's up 202% in the past month as cryptocurrencies across the board have soared in value. Compared to more established coins, SafeMoon is a piker. Its market cap is $4.1 billion, versus $792.3 billion for Bitcoin (price: $42,584) and $365.1 billion for Ethereum (price: $3,168). Critics of SafeMoon complain that there’s not enough information about it or how it can be used. But SafeMoon does fill what seems like a bottomless appetite for cryptocurrencies. The value of Dogecoin, which received a massive boost from Tesla CEO Elon Musk , recently exploded in value. Other like Shiba Inu, another dog-themed cryptocurrency , and Internet Computer, which debuted last week , have also gained traction. Here’s what we know about SafeMoon. What is SafeMoon? SafeMoon is another digital currency similar to Bitcoin and Ethereum, with a couple of key differences. Its creators say they want to fix some of the problems—like price volatility—that are common in other digital coins. To do this, SafeMoon aims to discourage day trading of its coin and to reward long-term holders by charging a 10% fee on each sale. Half of the fees collected are earmarked for existing coin owners, who receive a sort of dividend in the form of additional coins. “The goal here is to prevent the larger dips when whales decide to sell their tokens later in the game, which keeps the price from fluctuating as much,” SafeMoon said in explaining its currency, using the term for investors who hold large amounts of digital coins. SafeMoon also says it opts for manual burns versus continuous burns, which is when digital coins are purposefully removed from circulation. Manual burns, according to the creators, give SafeMoon more control over the coin's supply. Less supply with increasing demand would increase the coin's price. Who leads SafeMoon? SafeMoon lists a team of six leaders. At the top is CEO John Karony, who previously served as an analyst for the U.S. Department of Defense, according to his LinkedIn profile. He, along with SafeMoon’s chief technology officer Thomas Smith and community manager Trevor Church, is also working on an independent video game studio called TANO, an acronym for "technically a new operation." Story continues Smith has spent the past two years working with different organizations on blockchain and decentralized financial products. SafeMoon’s chief operating officer, Jack Haines-Davies, based in the United Kingdom, lists two companies on LinkedIn, LikeandShare and Ben Phillips Global, as his former employers. It’s unclear what those companies do. What are SafeMoon’s plans? SafeMoon has laid out a road map for the year. In the first quarter, the company said that it had doubled the size of its team and begun a marketing campaign. Next the company plans to complete a SafeMoon app (though it's unclear what that app will do), a wallet, and games. It also says it plans to explore allowing trading of its currency on exchanges like Binance, begin building its own exchange, expand its team by 35%, and establish a U.K./Ireland office. In the last half of the year, the company said it plans to finish its SafeMoon Exchange and open an African-based SafeMoon office. What do critics say? The lofty plans have some skeptics raising their eyebrows at SafeMoon, especially as the price rises. For example, a [hotlink]Twitter[/hotlink] account called WarOnRugs, which identifies itself as a "community based, grassroots movement" that aims to expose crypto scams, criticized SafeMoon last month . "Owner owns more than 50% of the liquidity and refuses to fix it," the account tweeted. "He could pull LP and sell tokens, creating a rug pull [meaning an exit scam]. Likeliness of losing all funds: Absolute." Crypto analyst and investor Lark Davis echoed the sentiment last month, comparing SafeMoon to BitConnect , an investment platform that ended up being a Ponzi scheme. "Remember just because you make money off of a ponzi does not change the fact that it is a ponzi," he tweeted . This story was originally featured on Fortune.com View comments || Bitcoin mining actually uses less energy than traditional banking, new report claims: Bitcoin mining actually uses less energy than traditional banking, new report claims (Getty/iStock) Bitcoin mining only uses half the energy that the traditional banking system does, a new study claims. Gold mining also uses up to twice the amount of energy of the bitcoin version, says the report, which was published by cryptocurrency investment firm Galaxy Digital. The white paper study from the Galaxy Digital Mining team comes after Elon Musk fueled a debate on the energy consumption of bitcoin mining and announced that Tesla would no longer take it as payment for its electric vehicles. Billionaire former hedge-fund manager Mike Novogratz is the CEO of Galaxy Digital, which made public all of its calculations. The authors of the study estimate the energy consumption of the entire bitcoin network at 113.89 terawatts per hour, of which 99 per cent comes from the mining computers. Bitcoin mining is the process of solving complex mathematical puzzles to verify bitcoin transactions and record them in the blockchain ledger. The team at Galaxy Digital Mining wrote an excellent white paper examining #bitcoin s energy usage. Did you know that 19x more energy is lost in transmission than Bitcoin miners consume? Great research hereand we open sourced our methodology. https://t.co/bTR40GdiSP pic.twitter.com/wjd92RmC1l Galaxy Digital Research (@glxyresearch) May 14, 2021 This figure is lower than the University of Cambridges Centre for Alternative Finance, which estimated it at 128 terawatts per hour in March 2021. The CAF has estimated that the bitcoin industry as a whole now uses as much energy each year as a country the size of Malaysia. The Galaxy Digital study claims that, by their calculations, bitcoins energy consumption is less than half that of the traditional banking system, which it estimates at 263.72 terawatts per hour, and gold minings 240.61 terawatts per hour. Story continues The study admitted that gauging the energy use of these two industries is not as easy as auditing bitcoin and stated that their study was a good faith effort to estimate the energy footprint of both the gold industry and banking system. The study stated that the banking industry does not directly report electricity consumption data. And it says it made its banking calculation based on Galaxys estimations of power usage by banking data centers, bank branches, ATMs and card networks data centers. To calculate the energy consumption of the gold industry, Galaxy Digital Mining says it used estimates for the industrys total greenhouse gases emissions provided in the World Gold Councils report titled Gold and climate change: Current and future impacts. Social media critics were quick to point out that both the gold mining and banking industries are both significantly larger than bitcoin, yet only use twice as much energy according to the study. Galaxy Digital responded to that criticism by saying that bitcoins energy consumption was not linked to its transactional volume or throughput. Gold is 11x larger than bitcoin and banking system is 18x larger(in 2018) probably larger now... sooo if bitcoin is scaled up to that size what would the power consumption be? So Bitcoin 11-18 times smaller but uses ~ half the power the other two use. Adam Denecke (@ciraxx) May 14, 2021 Crytocurrency markets lost an estimated $500bn following Mr Musks Tesla announcement. Read More The Independent visits Heathrow ahead of international travel restarting How bad are Bitcoin and Dogecoin for the environment? Bitcoin price crash live: Elon Musk clarifies Tesla tweets as BTC and dogecoin rebound || Bitcoin mining actually uses less energy than traditional banking, new report claims: Bitcoin mining actually uses less energy than traditional banking, new report claims (Getty/iStock) Bitcoin mining only uses half the energy that the traditional banking system does, a new study claims. Gold mining also uses up to twice the amount of energy of the bitcoin version, says the report, which was published by cryptocurrency investment firm Galaxy Digital. The white paper study from the Galaxy Digital Mining team comes after Elon Musk fueled a debate on the energy consumption of bitcoin mining and announced that Tesla would no longer take it as payment for its electric vehicles. Billionaire former hedge-fund manager Mike Novogratz is the CEO of Galaxy Digital, which made public all of its calculations. The authors of the study estimate the energy consumption of the entire bitcoin network at 113.89 terawatts per hour, of which 99 per cent comes from the mining computers. Bitcoin mining is the process of solving complex mathematical puzzles to verify bitcoin transactions and record them in the blockchain ledger. The team at Galaxy Digital Mining wrote an excellent white paper examining #bitcoin s energy usage. Did you know that 19x more energy is lost in transmission than Bitcoin miners consume? Great research hereand we open sourced our methodology. https://t.co/bTR40GdiSP pic.twitter.com/wjd92RmC1l Galaxy Digital Research (@glxyresearch) May 14, 2021 This figure is lower than the University of Cambridges Centre for Alternative Finance, which estimated it at 128 terawatts per hour in March 2021. The CAF has estimated that the bitcoin industry as a whole now uses as much energy each year as a country the size of Malaysia. The Galaxy Digital study claims that, by their calculations, bitcoins energy consumption is less than half that of the traditional banking system, which it estimates at 263.72 terawatts per hour, and gold minings 240.61 terawatts per hour. Story continues The study admitted that gauging the energy use of these two industries is not as easy as auditing bitcoin and stated that their study was a good faith effort to estimate the energy footprint of both the gold industry and banking system. The study stated that the banking industry does not directly report electricity consumption data. And it says it made its banking calculation based on Galaxys estimations of power usage by banking data centers, bank branches, ATMs and card networks data centers. To calculate the energy consumption of the gold industry, Galaxy Digital Mining says it used estimates for the industrys total greenhouse gases emissions provided in the World Gold Councils report titled Gold and climate change: Current and future impacts. Social media critics were quick to point out that both the gold mining and banking industries are both significantly larger than bitcoin, yet only use twice as much energy according to the study. Galaxy Digital responded to that criticism by saying that bitcoins energy consumption was not linked to its transactional volume or throughput. Gold is 11x larger than bitcoin and banking system is 18x larger(in 2018) probably larger now... sooo if bitcoin is scaled up to that size what would the power consumption be? So Bitcoin 11-18 times smaller but uses ~ half the power the other two use. Adam Denecke (@ciraxx) May 14, 2021 Crytocurrency markets lost an estimated $500bn following Mr Musks Tesla announcement. Read More The Independent visits Heathrow ahead of international travel restarting How bad are Bitcoin and Dogecoin for the environment? Bitcoin price crash live: Elon Musk clarifies Tesla tweets as BTC and dogecoin rebound || Bitcoin mining actually uses less energy than traditional banking, new report claims: Bitcoin mining actually uses less energy than traditional banking, new report claims (Getty/iStock) Bitcoin mining only uses half the energy that the traditional banking system does, a new study claims. Gold mining also uses up to twice the amount of energy of the bitcoin version, says the report, which was published by cryptocurrency investment firm Galaxy Digital. The white paper study from the Galaxy Digital Mining team comes after Elon Musk fueled a debate on the energy consumption of bitcoin mining and announced that Tesla would no longer take it as payment for its electric vehicles. Billionaire former hedge-fund manager Mike Novogratz is the CEO of Galaxy Digital, which made public all of its calculations. The authors of the study estimate the energy consumption of the entire bitcoin network at 113.89 terawatts per hour, of which 99 per cent comes from the mining computers. Bitcoin mining is the process of solving complex mathematical puzzles to verify bitcoin transactions and record them in the blockchain ledger. The team at Galaxy Digital Mining wrote an excellent white paper examining #bitcoin s energy usage. Did you know that 19x more energy is lost in transmission than Bitcoin miners consume? Great research hereand we open sourced our methodology. https://t.co/bTR40GdiSP pic.twitter.com/wjd92RmC1l Galaxy Digital Research (@glxyresearch) May 14, 2021 This figure is lower than the University of Cambridges Centre for Alternative Finance, which estimated it at 128 terawatts per hour in March 2021. The CAF has estimated that the bitcoin industry as a whole now uses as much energy each year as a country the size of Malaysia. The Galaxy Digital study claims that, by their calculations, bitcoins energy consumption is less than half that of the traditional banking system, which it estimates at 263.72 terawatts per hour, and gold minings 240.61 terawatts per hour. Story continues The study admitted that gauging the energy use of these two industries is not as easy as auditing bitcoin and stated that their study was a good faith effort to estimate the energy footprint of both the gold industry and banking system. The study stated that the banking industry does not directly report electricity consumption data. And it says it made its banking calculation based on Galaxys estimations of power usage by banking data centers, bank branches, ATMs and card networks data centers. To calculate the energy consumption of the gold industry, Galaxy Digital Mining says it used estimates for the industrys total greenhouse gases emissions provided in the World Gold Councils report titled Gold and climate change: Current and future impacts. Social media critics were quick to point out that both the gold mining and banking industries are both significantly larger than bitcoin, yet only use twice as much energy according to the study. Galaxy Digital responded to that criticism by saying that bitcoins energy consumption was not linked to its transactional volume or throughput. Gold is 11x larger than bitcoin and banking system is 18x larger(in 2018) probably larger now... sooo if bitcoin is scaled up to that size what would the power consumption be? So Bitcoin 11-18 times smaller but uses ~ half the power the other two use. Adam Denecke (@ciraxx) May 14, 2021 Crytocurrency markets lost an estimated $500bn following Mr Musks Tesla announcement. Read More The Independent visits Heathrow ahead of international travel restarting How bad are Bitcoin and Dogecoin for the environment? Bitcoin price crash live: Elon Musk clarifies Tesla tweets as BTC and dogecoin rebound || Market Wrap: Elon Taketh Away – Bitcoin Continues Fall as Options Traders Pile Into Puts: Most cryptocurrencies are down Monday, prompting a flurry of activity in the options markets as traders reposition themselves amid increased volatility.
Bitcoin(BTC) trading around $44,211 as of 21:00 UTC (4 p.m. ET). Losing 2.8% over the previous 24 hours.Bitcoin’s 24-hour range: $42,269-$46,462 (CoinDesk 20)Ether(ETH) trading around $3,376 as of 21:00 UTC (4 p.m. ET). In the red 1% over the previous 24 hours.Ether’s 24-hour range: $3,142-$3,587 (CoinDesk 20)
Bitcoin dumps, rest of crypto follows
Bitcoin, the largest cryptocurrency by market capitalization, was down Monday 2.8% as of press time and going as low as $42,269 around 17:15 UTC (1:15 p.m. ET). BTC was above the 10-hour moving average and below the 50-day, a sideways signal for market technicians.
“Over the last three months bitcoin has been consolidating around $50,000 within a volatile and wide $45,000 to $60,000 range,” said Jean-Marc Bonnefous, managing partner of investment firm Tellurian Capital. “We are still in a supportive trend generally but a lot of participants are already long bitcoin, so you need more and more bullish news to break this range and the all-time highs.”
Related:Crypto Exchanges See Fastest Bitcoin Inflows Since ‘Black Thursday’ in March 2020
BTC volatility is indeed up, according to CoinDesk Research data. As of Sunday, the most recent day for closing data, bitcoin’s 30-day volatility was over 77%, the highest since March 24.
Greg Magadini, CEO of data aggregator Genesis Volatility, also tracks the gyrations in the crypto market by utilizing data from bellwether derivatives exchange Deribit. Late Sunday, the DVOL almost hit 160, by far the highest level of variability over the past month, according to Genesis’ charting.
“We saw the highest print recorded on Deribit’s ‘DVOL’ index,” noted Magadini.
“Elon Musk’s Twitter activity and BTC’s subsequent drop lower proved the bitcoin options market correct,” added Magadini. “Now BTC option markets are very expensive as traders are panic-buying put options.”
Related:‘Long Bitcoin’ Is World’s Most ‘Crowded’ Trade: Bank of America Survey
Current-day options flow for BTC, according to Skew, are substantiating Magadini’s case. Over 60% of options action were in puts, which is the right but not the obligation to sell an asset before a specified expiration date.
Selling When Tesla Hasn’t
Puts could possibly prove lucrative for BTC options traders, but analysts continue to be concerned about the whims of Musk, CEO of electric car manufacturer Tesla and an increasingly influential cryptocurrency tweeter.
“Tesla’s recent decision to stop accepting bitcoin for car purchases, and remarks on its environmental impact, seem to have had an impact on bitcoin’s price,” said Alessandro Andreotti, an over-the-counter crypto trader.
Even CNBC’s Jim Cramer has weighed in on Tesla CEO Elon Musk’s gripon the cryptocurrency market, concerned the entrepreneur’s tweets seem to be a catalyst for dumps as well as bullish runs.
This selling comes despite Musk making it clear via Twitter (of course) Sunday thatTesla has not sold any of its bitcoin holdings, reportedly worth more than $1 billion.
“BTC still remains king in the cryptomarket,” added Andreotti. “And when it goes down, [altcoins] inevitably follow suit. Everything is just following bitcoin, in my opinion.”
Welcome to the new BTC range: the $40Ks
Bitcoin was trading around $38,000 on Feb. 7,when Musk first tweeted about cryptoregarding dog-friendly meme assetdogecoin(DOGE). BTC then went as high as $64,829 (a record) on April 15 but is now back to February levels, according to CoinDesk 20 data.
So where does bitcoin’s price go from here?
“Indicators show that most likely BTC will stay in the range between $42,000 to $47,000,” noted investor and technical analyst Constantin Kogan.
“The bitcoin price seems to be driven randomly by the latest anecdotal tweet or rumor,” said Tellurian Capital’s Bonnefous. “On the other hand, ether is still under-invested and has a stronger outlook and resilience in the shorter term.”
Read More:Bitcoin Suffers Biggest Pullback This Year With Drop to 3.5-Month Low
ETH price follows bitcoin; call options still favored
The second-largest cryptocurrency by market capitalization, ether (ETH), was trading around $3,376 as of 21:00 UTC (4:00 p.m. ET), down 1% over the prior 24 hours. ETH went as low as $3,142 around 17:15 UTC (1:15 p.m. ET). The asset is above the 10-hour moving average but below the 50-day, a sideways signal for market technicians.
Analysts have been mostly focused on BTC Monday because of the drop in the signature blockchain asset, and most of the rest of the crypto ecosystem seems to be following that trend. However, Genesis Volatility’s Magadini says the derivatives markets between BTC and ETH are behaving quite differently.
“Something we’ve written about in our newsletter for the past couple of weeks is regarding the divergence between ETH and BTC option skew,” Magadini said. “BTC had been relatively bearish in skew despite prices climbing slightly higher while ETH had a screaming bullish skew.”
ETH options are still trending bullish: While over 60% of bitcoin options are puts, 55% of ether options are calls, based on Monday’s option market flows. Calls are the right but not the obligation to buy an asset before a specific expiration date – and can be used by traders to bet on upside.
The ETH/BTC trading pair, offered on most spot crypto exchanges, reflects the strength of one asset over the other. When the pair is up, it shows traders are selling BTC for ether. When the pair is down, investors are dumping ETH for bitcoin. While the pair did hit as high as 0.082 BTC on May 15, it’s now in a downtrend since that zenith.
“ETH had seen strong performance relative to bitcoin,” said Jason Lau, chief operating officer of San Francisco-based exchange OKCoin. “ETH/BTC was up to 0.08 BTC, a level not seen since Jun 2018.”
ETH/BTC is down almost 1% on Coinbase Monday.
Read More:DeFi Dashboard Zapper Raises $15M to Build On-Platform App Store
Other markets
Digital assets on theCoinDesk 20are mixed Monday. Notable winners as of 21:00 UTC (4:00 p.m. ET):
aave(AAVE) + 15.5%xrp(XRP) + 11.2%yearn finance(YFI) + 5%
Notable losers:
nucypher(NU) – 5.3%eos(EOS) – 5.3%tezos(XTZ) – 4.8%
Read More:CBDCs May Be Disruptive for Financial Systems, Fitch Ratings Says
Equities:
The Nikkei 225 index ended the day in the red 0.92% aslaggard coronavirus vaccination processes in Japan triggered bearish sentiment.Europe’s FTSE 100 slipped 0.15% asinvestors signaled some concern over the rise of coronavirus variants, particularly in India.The S&P 500 in the United States closed in the red 0.30% asa sell-off in tech stocks left the index lower Monday.
Commodities:
Oil was up 1.3%. Price per barrel of West Texas Intermediate crude: $66.33.Gold was in the green 1.3% and at $1,865 as of press time.Silver is gaining, up 2.8% and changing hands at $28.18.
Treasurys:
The 10-year U.S. Treasury bond yield climbed Monday to 1.647 and in the green 1%.
• MicroStrategy: Another Dip, Another $10M Bitcoin Purchase
• Bitcoin Stabilizes at Support; Faces Resistance Around $50K-$53K || Market Wrap: Elon Taketh Away – Bitcoin Continues Fall as Options Traders Pile Into Puts: Most cryptocurrencies are down Monday, prompting a flurry of activity in the options markets as traders reposition themselves amid increased volatility. Bitcoin (BTC) trading around $44,211 as of 21:00 UTC (4 p.m. ET). Losing 2.8% over the previous 24 hours. Bitcoin’s 24-hour range: $42,269-$46,462 (CoinDesk 20) Ether (ETH) trading around $3,376 as of 21:00 UTC (4 p.m. ET). In the red 1% over the previous 24 hours. Ether’s 24-hour range: $3,142-$3,587 (CoinDesk 20) Bitcoin dumps, rest of crypto follows Bitcoin, the largest cryptocurrency by market capitalization, was down Monday 2.8% as of press time and going as low as $42,269 around 17:15 UTC (1:15 p.m. ET). BTC was above the 10-hour moving average and below the 50-day, a sideways signal for market technicians. “Over the last three months bitcoin has been consolidating around $50,000 within a volatile and wide $45,000 to $60,000 range,” said Jean-Marc Bonnefous, managing partner of investment firm Tellurian Capital. “We are still in a supportive trend generally but a lot of participants are already long bitcoin, so you need more and more bullish news to break this range and the all-time highs.” Related: Crypto Exchanges See Fastest Bitcoin Inflows Since ‘Black Thursday’ in March 2020 BTC volatility is indeed up, according to CoinDesk Research data. As of Sunday, the most recent day for closing data, bitcoin’s 30-day volatility was over 77%, the highest since March 24. Greg Magadini, CEO of data aggregator Genesis Volatility, also tracks the gyrations in the crypto market by utilizing data from bellwether derivatives exchange Deribit. Late Sunday, the DVOL almost hit 160, by far the highest level of variability over the past month, according to Genesis’ charting. “We saw the highest print recorded on Deribit’s ‘DVOL’ index,” noted Magadini. “Elon Musk’s Twitter activity and BTC’s subsequent drop lower proved the bitcoin options market correct,” added Magadini. “Now BTC option markets are very expensive as traders are panic-buying put options.” Story continues Related: ‘Long Bitcoin’ Is World’s Most ‘Crowded’ Trade: Bank of America Survey Current-day options flow for BTC, according to Skew, are substantiating Magadini’s case. Over 60% of options action were in puts, which is the right but not the obligation to sell an asset before a specified expiration date. Selling When Tesla Hasn’t Puts could possibly prove lucrative for BTC options traders, but analysts continue to be concerned about the whims of Musk, CEO of electric car manufacturer Tesla and an increasingly influential cryptocurrency tweeter. “Tesla’s recent decision to stop accepting bitcoin for car purchases, and remarks on its environmental impact, seem to have had an impact on bitcoin’s price,” said Alessandro Andreotti, an over-the-counter crypto trader. Even CNBC’s Jim Cramer has weighed in on Tesla CEO Elon Musk’s grip on the cryptocurrency market, concerned the entrepreneur’s tweets seem to be a catalyst for dumps as well as bullish runs. This selling comes despite Musk making it clear via Twitter (of course) Sunday that Tesla has not sold any of its bitcoin holdings , reportedly worth more than $1 billion. “BTC still remains king in the cryptomarket,” added Andreotti. “And when it goes down, [altcoins] inevitably follow suit. Everything is just following bitcoin, in my opinion.” Welcome to the new BTC range: the $40Ks Bitcoin was trading around $38,000 on Feb. 7, when Musk first tweeted about crypto regarding dog-friendly meme asset dogecoin (DOGE). BTC then went as high as $64,829 (a record) on April 15 but is now back to February levels, according to CoinDesk 20 data. So where does bitcoin’s price go from here? “Indicators show that most likely BTC will stay in the range between $42,000 to $47,000,” noted investor and technical analyst Constantin Kogan. “The bitcoin price seems to be driven randomly by the latest anecdotal tweet or rumor,” said Tellurian Capital’s Bonnefous. “On the other hand, ether is still under-invested and has a stronger outlook and resilience in the shorter term.” Read More: Bitcoin Suffers Biggest Pullback This Year With Drop to 3.5-Month Low ETH price follows bitcoin; call options still favored The second-largest cryptocurrency by market capitalization, ether (ETH), was trading around $3,376 as of 21:00 UTC (4:00 p.m. ET), down 1% over the prior 24 hours. ETH went as low as $3,142 around 17:15 UTC (1:15 p.m. ET). The asset is above the 10-hour moving average but below the 50-day, a sideways signal for market technicians. Analysts have been mostly focused on BTC Monday because of the drop in the signature blockchain asset, and most of the rest of the crypto ecosystem seems to be following that trend. However, Genesis Volatility’s Magadini says the derivatives markets between BTC and ETH are behaving quite differently. “Something we’ve written about in our newsletter for the past couple of weeks is regarding the divergence between ETH and BTC option skew,” Magadini said. “BTC had been relatively bearish in skew despite prices climbing slightly higher while ETH had a screaming bullish skew.” ETH options are still trending bullish: While over 60% of bitcoin options are puts, 55% of ether options are calls, based on Monday’s option market flows. Calls are the right but not the obligation to buy an asset before a specific expiration date – and can be used by traders to bet on upside. The ETH/BTC trading pair, offered on most spot crypto exchanges, reflects the strength of one asset over the other. When the pair is up, it shows traders are selling BTC for ether. When the pair is down, investors are dumping ETH for bitcoin. While the pair did hit as high as 0.082 BTC on May 15, it’s now in a downtrend since that zenith. “ETH had seen strong performance relative to bitcoin,” said Jason Lau, chief operating officer of San Francisco-based exchange OKCoin. “ETH/BTC was up to 0.08 BTC, a level not seen since Jun 2018.” ETH/BTC is down almost 1% on Coinbase Monday. Read More: DeFi Dashboard Zapper Raises $15M to Build On-Platform App Store Other markets Digital assets on the CoinDesk 20 are mixed Monday. Notable winners as of 21:00 UTC (4:00 p.m. ET): aave (AAVE) + 15.5% xrp (XRP) + 11.2% yearn finance (YFI) + 5% Notable losers: nucypher (NU) – 5.3% eos (EOS) – 5.3% tezos (XTZ) – 4.8% Read More: CBDCs May Be Disruptive for Financial Systems, Fitch Ratings Says Equities: The Nikkei 225 index ended the day in the red 0.92% as laggard coronavirus vaccination processes in Japan triggered bearish sentiment . Europe’s FTSE 100 slipped 0.15% as investors signaled some concern over the rise of coronavirus variants, particularly in India . The S&P 500 in the United States closed in the red 0.30% as a sell-off in tech stocks left the index lower Monday . Commodities: Oil was up 1.3%. Price per barrel of West Texas Intermediate crude: $66.33. Gold was in the green 1.3% and at $1,865 as of press time. Silver is gaining, up 2.8% and changing hands at $28.18. Treasurys: The 10-year U.S. Treasury bond yield climbed Monday to 1.647 and in the green 1%. Related Stories MicroStrategy: Another Dip, Another $10M Bitcoin Purchase Bitcoin Stabilizes at Support; Faces Resistance Around $50K-$53K || Market Wrap: Elon Taketh Away – Bitcoin Continues Fall as Options Traders Pile Into Puts: Most cryptocurrencies are down Monday, prompting a flurry of activity in the options markets as traders reposition themselves amid increased volatility.
Bitcoin(BTC) trading around $44,211 as of 21:00 UTC (4 p.m. ET). Losing 2.8% over the previous 24 hours.Bitcoin’s 24-hour range: $42,269-$46,462 (CoinDesk 20)Ether(ETH) trading around $3,376 as of 21:00 UTC (4 p.m. ET). In the red 1% over the previous 24 hours.Ether’s 24-hour range: $3,142-$3,587 (CoinDesk 20)
Bitcoin dumps, rest of crypto follows
Bitcoin, the largest cryptocurrency by market capitalization, was down Monday 2.8% as of press time and going as low as $42,269 around 17:15 UTC (1:15 p.m. ET). BTC was above the 10-hour moving average and below the 50-day, a sideways signal for market technicians.
“Over the last three months bitcoin has been consolidating around $50,000 within a volatile and wide $45,000 to $60,000 range,” said Jean-Marc Bonnefous, managing partner of investment firm Tellurian Capital. “We are still in a supportive trend generally but a lot of participants are already long bitcoin, so you need more and more bullish news to break this range and the all-time highs.”
Related:Crypto Exchanges See Fastest Bitcoin Inflows Since ‘Black Thursday’ in March 2020
BTC volatility is indeed up, according to CoinDesk Research data. As of Sunday, the most recent day for closing data, bitcoin’s 30-day volatility was over 77%, the highest since March 24.
Greg Magadini, CEO of data aggregator Genesis Volatility, also tracks the gyrations in the crypto market by utilizing data from bellwether derivatives exchange Deribit. Late Sunday, the DVOL almost hit 160, by far the highest level of variability over the past month, according to Genesis’ charting.
“We saw the highest print recorded on Deribit’s ‘DVOL’ index,” noted Magadini.
“Elon Musk’s Twitter activity and BTC’s subsequent drop lower proved the bitcoin options market correct,” added Magadini. “Now BTC option markets are very expensive as traders are panic-buying put options.”
Related:‘Long Bitcoin’ Is World’s Most ‘Crowded’ Trade: Bank of America Survey
Current-day options flow for BTC, according to Skew, are substantiating Magadini’s case. Over 60% of options action were in puts, which is the right but not the obligation to sell an asset before a specified expiration date.
Selling When Tesla Hasn’t
Puts could possibly prove lucrative for BTC options traders, but analysts continue to be concerned about the whims of Musk, CEO of electric car manufacturer Tesla and an increasingly influential cryptocurrency tweeter.
“Tesla’s recent decision to stop accepting bitcoin for car purchases, and remarks on its environmental impact, seem to have had an impact on bitcoin’s price,” said Alessandro Andreotti, an over-the-counter crypto trader.
Even CNBC’s Jim Cramer has weighed in on Tesla CEO Elon Musk’s gripon the cryptocurrency market, concerned the entrepreneur’s tweets seem to be a catalyst for dumps as well as bullish runs.
This selling comes despite Musk making it clear via Twitter (of course) Sunday thatTesla has not sold any of its bitcoin holdings, reportedly worth more than $1 billion.
“BTC still remains king in the cryptomarket,” added Andreotti. “And when it goes down, [altcoins] inevitably follow suit. Everything is just following bitcoin, in my opinion.”
Welcome to the new BTC range: the $40Ks
Bitcoin was trading around $38,000 on Feb. 7,when Musk first tweeted about cryptoregarding dog-friendly meme assetdogecoin(DOGE). BTC then went as high as $64,829 (a record) on April 15 but is now back to February levels, according to CoinDesk 20 data.
So where does bitcoin’s price go from here?
“Indicators show that most likely BTC will stay in the range between $42,000 to $47,000,” noted investor and technical analyst Constantin Kogan.
“The bitcoin price seems to be driven randomly by the latest anecdotal tweet or rumor,” said Tellurian Capital’s Bonnefous. “On the other hand, ether is still under-invested and has a stronger outlook and resilience in the shorter term.”
Read More:Bitcoin Suffers Biggest Pullback This Year With Drop to 3.5-Month Low
ETH price follows bitcoin; call options still favored
The second-largest cryptocurrency by market capitalization, ether (ETH), was trading around $3,376 as of 21:00 UTC (4:00 p.m. ET), down 1% over the prior 24 hours. ETH went as low as $3,142 around 17:15 UTC (1:15 p.m. ET). The asset is above the 10-hour moving average but below the 50-day, a sideways signal for market technicians.
Analysts have been mostly focused on BTC Monday because of the drop in the signature blockchain asset, and most of the rest of the crypto ecosystem seems to be following that trend. However, Genesis Volatility’s Magadini says the derivatives markets between BTC and ETH are behaving quite differently.
“Something we’ve written about in our newsletter for the past couple of weeks is regarding the divergence between ETH and BTC option skew,” Magadini said. “BTC had been relatively bearish in skew despite prices climbing slightly higher while ETH had a screaming bullish skew.”
ETH options are still trending bullish: While over 60% of bitcoin options are puts, 55% of ether options are calls, based on Monday’s option market flows. Calls are the right but not the obligation to buy an asset before a specific expiration date – and can be used by traders to bet on upside.
The ETH/BTC trading pair, offered on most spot crypto exchanges, reflects the strength of one asset over the other. When the pair is up, it shows traders are selling BTC for ether. When the pair is down, investors are dumping ETH for bitcoin. While the pair did hit as high as 0.082 BTC on May 15, it’s now in a downtrend since that zenith.
“ETH had seen strong performance relative to bitcoin,” said Jason Lau, chief operating officer of San Francisco-based exchange OKCoin. “ETH/BTC was up to 0.08 BTC, a level not seen since Jun 2018.”
ETH/BTC is down almost 1% on Coinbase Monday.
Read More:DeFi Dashboard Zapper Raises $15M to Build On-Platform App Store
Other markets
Digital assets on theCoinDesk 20are mixed Monday. Notable winners as of 21:00 UTC (4:00 p.m. ET):
aave(AAVE) + 15.5%xrp(XRP) + 11.2%yearn finance(YFI) + 5%
Notable losers:
nucypher(NU) – 5.3%eos(EOS) – 5.3%tezos(XTZ) – 4.8%
Read More:CBDCs May Be Disruptive for Financial Systems, Fitch Ratings Says
Equities:
The Nikkei 225 index ended the day in the red 0.92% aslaggard coronavirus vaccination processes in Japan triggered bearish sentiment.Europe’s FTSE 100 slipped 0.15% asinvestors signaled some concern over the rise of coronavirus variants, particularly in India.The S&P 500 in the United States closed in the red 0.30% asa sell-off in tech stocks left the index lower Monday.
Commodities:
Oil was up 1.3%. Price per barrel of West Texas Intermediate crude: $66.33.Gold was in the green 1.3% and at $1,865 as of press time.Silver is gaining, up 2.8% and changing hands at $28.18.
Treasurys:
The 10-year U.S. Treasury bond yield climbed Monday to 1.647 and in the green 1%.
• MicroStrategy: Another Dip, Another $10M Bitcoin Purchase
• Bitcoin Stabilizes at Support; Faces Resistance Around $50K-$53K || Hardware hacker brings online multiplayer to the original Game Boy: Move over, Xbox and PlayStation. A new foe has appeared in the world of online multiplayer gaming! It's the... uh, Game Boy. As in that unbreakable, gray, 4.19Mhz tank from 1989.
While the Game Boy has had a handful of locally multiplayer games since the beginning, using it meant physically connecting your Game Boy to another Game Boy via an accessory called the link cable. If you wanted to play some Nintendo with someone further than a few feet away... well, you'd just have to wait a few decades.
In a wildly impressive display of skill, hardware hackerstacksmashinghas managed to reverse-engineer the Game Boy's link cable protocol and effectively trick it into working across the internet. The Game Boy connects through the link cable hooked into a Raspberry Pi to a custom desktop client, which in turn pings an online game server that acts as the bridge between you and your opponent(s). The Game Boy thinks it's talking to any other ol' Game Boy, unaware of the fact that it's actually communicating with a server that could be halfway around the world.
The first game they've got working? Tetris!
Getting any given game to work (imagine trading a Pokémon you caught in 1998 with someone across the internet!) will require that game's unique communication protocols to be reverse-engineered, so it's only Tetris for now. Fortunately, stacksmashing has opened up the source code for all the various components that have been built so far, so there's something of a foundation to build upon. And because the whole thing is no fun without anyone to play with, there's also a Discord channel just for finding others who've gone down this rabbit hole. There's even a custom PCB in the works ($15, with preorders expected to ship by June) that'll handle the connection between the link cable and the Raspberry Pi, removing the need for you to shred a link cable to expose its wires and make this work.
Stacksmashing also recently made headlines bycracking open and modifying Apple's AirTags, as well as turning the Game Boy into a (hilariously underpowered)Bitcoin miner.
VCs discuss gaming’s biggest infrastructure investment opportunities in 2021 || Hardware hacker brings online multiplayer to the original Game Boy: Move over, Xbox and PlayStation. A new foe has appeared in the world of online multiplayer gaming! It's the... uh, Game Boy. As in that unbreakable, gray, 4.19Mhz tank from 1989. While the Game Boy has had a handful of locally multiplayer games since the beginning, using it meant physically connecting your Game Boy to another Game Boy via an accessory called the link cable. If you wanted to play some Nintendo with someone further than a few feet away... well, you'd just have to wait a few decades. In a wildly impressive display of skill, hardware hacker stacksmashing has managed to reverse-engineer the Game Boy's link cable protocol and effectively trick it into working across the internet. The Game Boy connects through the link cable hooked into a Raspberry Pi to a custom desktop client, which in turn pings an online game server that acts as the bridge between you and your opponent(s). The Game Boy thinks it's talking to any other ol' Game Boy, unaware of the fact that it's actually communicating with a server that could be halfway around the world. The first game they've got working? Tetris! Getting any given game to work (imagine trading a Pokémon you caught in 1998 with someone across the internet!) will require that game's unique communication protocols to be reverse-engineered, so it's only Tetris for now. Fortunately, stacksmashing has opened up the source code for all the various components that have been built so far, so there's something of a foundation to build upon. And because the whole thing is no fun without anyone to play with, there's also a Discord channel just for finding others who've gone down this rabbit hole. There's even a custom PCB in the works ($15, with preorders expected to ship by June) that'll handle the connection between the link cable and the Raspberry Pi, removing the need for you to shred a link cable to expose its wires and make this work. Stacksmashing also recently made headlines by cracking open and modifying Apple's AirTags , as well as turning the Game Boy into a (hilariously underpowered) Bitcoin miner . VCs discuss gamings biggest infrastructure investment opportunities in 2021 || DarkSide Hackers’ Bitcoin Stash Tracked: Blockchain sleuthing firm Crystal Blockchain says it has located the bitcoin address that DarkSide hackers used to collect ransom from the Colonial Pipeline and shared it with CoinDesk. Unlike in traditional finance, with public blockchains every transaction leaves a trace. That provides rare visibility into the money movements of the cybercriminal world. Last week, Colonial Pipeline halted operations for six days, prompting a gas shortage crisis across the Southeastern U.S., after hackers, believed to be based in Russia , hit it with a cyberattack, encrypting the company’s data. On May 8, Colonial Pipeline agreed to pay 75 BTC (or about $5 million) to the attackers and soon after was able to resume work. Related: MicroStrategy: Another Dip, Another $10M Bitcoin Purchase Blockchain analytics firm Elliptic said in a blog post last week that it had identified DarkSide’s wallets addresses, but didn’t disclose the addresses themselves. According to Crystal Blockchain, a subsidiary of Bitfury, a security and infrastructure provider for the Bitcoin blockchain, the address that received the ransom is bc1q7eqww9dmm9p48hx5yz5gcvmncu65w43wfytpsf . Connecting the dots There were several facts that suggested this address was the one involved in collecting the ransom, Kyrylo Chykhradze, product director at Crystal Blockchain, told CoinDesk. “We found the transactions in the blockchain knowing the day of transaction and the amount sent,” Chykhradze said. “We analyzed each potential cluster (of addresses) and found additional evidence in one of them: a transaction of $4.4 million, or 78 BTC sent by Brenntag ,” a chemical distribution company. Brenntag, another victim of DarkSide, paid a ransom on May 11, Bleeping Computer reported . Elliptic also mentioned that transaction as additional evidence pointing at the bitcoin addresses associated with the hackers. Another piece of evidence pointed out by both Elliptic and Crystal: the cluster of addresses associated with hackers sent its last transaction last Thursday – the day when DarkSide reportedly got its servers seized by unspecified authorities. Story continues Bitcoin wallets are constituted of clusters of addresses, whose keys are managed by specific software. Blockchain analytics firms combine separate addresses on the blockchain into clusters and associate them with certain entities using specific rules of thumb. The most important one is clustering transaction inputs that are spent together. Related: Bitcoin Stabilizes at Support; Faces Resistance Around $50K-$53K According to the data from Crystal’s blockchain analytic tool, DarkSide’s cluster included 30 addresses, which together received 321.5 BTC, since the first transaction on March 4. All those funds ultimately left the cluster, with the biggest amount sent to the Binance crypto exchange (over 53.3 BTC, or 16% of all funds). Going dark The second-largest receiver of funds is the Hydra darknet marketplace, which received over 14.6 BTC from the DarkSide wallets, or 4.5% of its funds. Hydra is the world’s biggest illegal narcotics marketplace , operating mostly in Russia and Eastern Europe, according to Chainalysis. The website also provides other illegal goods, including fake ID documents, counterfeit banknotes, as well as physical cash in exchange for bitcoin . Other recipients of the DarkSide funds include little known exchanges named Ren, Zillion Bits, as well as the U.S.-based centralized exchange Poloniex and Estonia-based Garantex. Smaller amounts were also sent to other well-known major exchanges and peer-to-peer crypto marketplaces, including Coinbase, Huobi, OKEx, Paxful and LocalBitcoins. A relatively small amount, less than half a BTC, ended up in the privacy-oriented Wasabi wallet. The last transaction sent by the cluster occurred on May 13, when 107 BTC was sent to a single unknown address , which has only been active for one day and received three incoming transactions. The 107 BTC, worth over $4.5 million in Monday’s price, remains on that address. It’s unclear who controls the address. Related Stories Bitcoin Chart Indicator Suggests Worst of Pullback May Be Over Market Wrap: Elon Taketh Away – Bitcoin Continues Fall as Options Traders Pile Into Puts || DarkSide Hackers’ Bitcoin Stash Tracked: Blockchain sleuthing firm Crystal Blockchain says it has located thebitcoinaddress that DarkSide hackers used to collect ransom from the Colonial Pipeline and shared it with CoinDesk.
Unlike in traditional finance, with public blockchains every transaction leaves a trace. That provides rare visibility into the money movements of the cybercriminal world.
Last week, Colonial Pipeline haltedoperationsfor six days, prompting a gas shortage crisis across the Southeastern U.S., after hackers,believed to be based in Russia, hit it with a cyberattack, encrypting the company’s data. On May 8, Colonial Pipeline agreed topay 75 BTC(or about $5 million) to the attackers and soon after was able to resume work.
Related:MicroStrategy: Another Dip, Another $10M Bitcoin Purchase
Blockchain analytics firm Ellipticsaidin a blog post last week that it had identified DarkSide’s wallets addresses, but didn’t disclose the addresses themselves. According to Crystal Blockchain, a subsidiary of Bitfury, a security and infrastructure provider for the Bitcoin blockchain, the address that received the ransom isbc1q7eqww9dmm9p48hx5yz5gcvmncu65w43wfytpsf.
There were several facts that suggested this address was the one involved in collecting the ransom, Kyrylo Chykhradze, product director at Crystal Blockchain, told CoinDesk. “We found the transactions in the blockchain knowing the day of transaction and the amount sent,” Chykhradze said. “We analyzed each potential cluster (of addresses) and found additional evidence in one of them: a transaction of $4.4 million, or 78 BTCsent by Brenntag,” a chemical distribution company.
Brenntag, another victim of DarkSide, paid a ransom on May 11, Bleeping Computerreported. Elliptic also mentioned that transaction as additional evidence pointing at the bitcoin addresses associated with the hackers. Another piece of evidence pointed out by both Elliptic and Crystal: the cluster of addresses associated with hackers sent its last transaction last Thursday – the day when DarkSide reportedlygot its servers seizedby unspecified authorities.
Bitcoin wallets are constituted of clusters of addresses, whose keys are managed by specific software. Blockchain analytics firms combine separate addresses on the blockchain into clusters and associate them with certain entities using specific rules of thumb. The most important one is clustering transaction inputs that are spent together.
Related:Bitcoin Stabilizes at Support; Faces Resistance Around $50K-$53K
According to the data from Crystal’s blockchain analytic tool, DarkSide’s cluster included 30 addresses, which together received 321.5 BTC, since the first transaction on March 4. All those funds ultimately left the cluster, with the biggest amount sent to the Binance crypto exchange (over 53.3 BTC, or 16% of all funds).
The second-largest receiver of funds is the Hydra darknet marketplace, which received over 14.6 BTC from the DarkSide wallets, or 4.5% of its funds. Hydra is theworld’s biggest illegal narcotics marketplace, operating mostly in Russia and Eastern Europe, according to Chainalysis. The website also provides other illegal goods, including fake ID documents, counterfeit banknotes, as well asphysical cash in exchange for bitcoin.
Other recipients of the DarkSide funds include little known exchanges named Ren, Zillion Bits, as well as the U.S.-based centralized exchange Poloniex and Estonia-based Garantex. Smaller amounts were also sent to other well-known major exchanges and peer-to-peer crypto marketplaces, including Coinbase, Huobi, OKEx, Paxful and LocalBitcoins.
A relatively small amount, less than half a BTC, ended up in the privacy-oriented Wasabi wallet.
The last transaction sent by the cluster occurred on May 13, when 107 BTC was sent to a singleunknown address, which has only been active for one day and received three incoming transactions. The 107 BTC, worth over $4.5 million in Monday’s price, remains on that address. It’s unclear who controls the address.
• Bitcoin Chart Indicator Suggests Worst of Pullback May Be Over
• Market Wrap: Elon Taketh Away – Bitcoin Continues Fall as Options Traders Pile Into Puts || DarkSide Hackers’ Bitcoin Stash Tracked: Blockchain sleuthing firm Crystal Blockchain says it has located thebitcoinaddress that DarkSide hackers used to collect ransom from the Colonial Pipeline and shared it with CoinDesk.
Unlike in traditional finance, with public blockchains every transaction leaves a trace. That provides rare visibility into the money movements of the cybercriminal world.
Last week, Colonial Pipeline haltedoperationsfor six days, prompting a gas shortage crisis across the Southeastern U.S., after hackers,believed to be based in Russia, hit it with a cyberattack, encrypting the company’s data. On May 8, Colonial Pipeline agreed topay 75 BTC(or about $5 million) to the attackers and soon after was able to resume work.
Related:MicroStrategy: Another Dip, Another $10M Bitcoin Purchase
Blockchain analytics firm Ellipticsaidin a blog post last week that it had identified DarkSide’s wallets addresses, but didn’t disclose the addresses themselves. According to Crystal Blockchain, a subsidiary of Bitfury, a security and infrastructure provider for the Bitcoin blockchain, the address that received the ransom isbc1q7eqww9dmm9p48hx5yz5gcvmncu65w43wfytpsf.
There were several facts that suggested this address was the one involved in collecting the ransom, Kyrylo Chykhradze, product director at Crystal Blockchain, told CoinDesk. “We found the transactions in the blockchain knowing the day of transaction and the amount sent,” Chykhradze said. “We analyzed each potential cluster (of addresses) and found additional evidence in one of them: a transaction of $4.4 million, or 78 BTCsent by Brenntag,” a chemical distribution company.
Brenntag, another victim of DarkSide, paid a ransom on May 11, Bleeping Computerreported. Elliptic also mentioned that transaction as additional evidence pointing at the bitcoin addresses associated with the hackers. Another piece of evidence pointed out by both Elliptic and Crystal: the cluster of addresses associated with hackers sent its last transaction last Thursday – the day when DarkSide reportedlygot its servers seizedby unspecified authorities.
Bitcoin wallets are constituted of clusters of addresses, whose keys are managed by specific software. Blockchain analytics firms combine separate addresses on the blockchain into clusters and associate them with certain entities using specific rules of thumb. The most important one is clustering transaction inputs that are spent together.
Related:Bitcoin Stabilizes at Support; Faces Resistance Around $50K-$53K
According to the data from Crystal’s blockchain analytic tool, DarkSide’s cluster included 30 addresses, which together received 321.5 BTC, since the first transaction on March 4. All those funds ultimately left the cluster, with the biggest amount sent to the Binance crypto exchange (over 53.3 BTC, or 16% of all funds).
The second-largest receiver of funds is the Hydra darknet marketplace, which received over 14.6 BTC from the DarkSide wallets, or 4.5% of its funds. Hydra is theworld’s biggest illegal narcotics marketplace, operating mostly in Russia and Eastern Europe, according to Chainalysis. The website also provides other illegal goods, including fake ID documents, counterfeit banknotes, as well asphysical cash in exchange for bitcoin.
Other recipients of the DarkSide funds include little known exchanges named Ren, Zillion Bits, as well as the U.S.-based centralized exchange Poloniex and Estonia-based Garantex. Smaller amounts were also sent to other well-known major exchanges and peer-to-peer crypto marketplaces, including Coinbase, Huobi, OKEx, Paxful and LocalBitcoins.
A relatively small amount, less than half a BTC, ended up in the privacy-oriented Wasabi wallet.
The last transaction sent by the cluster occurred on May 13, when 107 BTC was sent to a singleunknown address, which has only been active for one day and received three incoming transactions. The 107 BTC, worth over $4.5 million in Monday’s price, remains on that address. It’s unclear who controls the address.
• Bitcoin Chart Indicator Suggests Worst of Pullback May Be Over
• Market Wrap: Elon Taketh Away – Bitcoin Continues Fall as Options Traders Pile Into Puts
[Social Media Buzz]
None available.
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37002.44, 40782.74, 37304.69, 37536.63, 34770.58, 38705.98, 38402.22, 39294.20, 38436.97, 35697.61
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Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 3836.74, 3857.72, 3845.19, 4076.63, 4025.25, 4030.85, 4035.30, 3678.92, 3687.37, 3661.30, 3552.95, 3706.05, 3630.68, 3655.01, 3678.56, 3657.84, 3728.57, 3601.01, 3576.03, 3604.58, 3585.12, 3600.87, 3599.77, 3602.46, 3583.97, 3470.45, 3448.12, 3486.18, 3457.79, 3487.95, 3521.06, 3464.01, 3459.15, 3466.36, 3413.77, 3399.47, 3666.78, 3671.20, 3690.19, 3648.43, 3653.53, 3632.07, 3616.88, 3620.81, 3629.79, 3673.84, 3915.71, 3947.09, 3999.82, 3954.12, 4005.53, 4142.53, 3810.43, 3882.70, 3854.36, 3851.05, 3854.79, 3859.58, 3864.42, 3847.18, 3761.56, 3896.38, 3903.94, 3911.48, 3901.13, 3963.31, 3951.60, 3905.23, 3909.16, 3906.72, 3924.37, 3960.91, 4048.73, 4025.23, 4032.51, 4071.19, 4087.48, 4029.33, 4023.97, 4035.83, 4022.17, 3963.07, 3985.08, 4087.07, 4069.11, 4098.37, 4106.66, 4105.40, 4158.18, 4879.88.
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[Bitcoin Technical Analysis for 2019-04-02]
Volume: 21315047816, RSI (14-day): 87.34, 50-day EMA: 3984.38, 200-day EMA: 4656.69
[Wider Market Context]
Gold Price: 1290.00, Gold RSI: 43.61
Oil Price: 62.58, Oil RSI: 73.55
[Recent News (last 7 days)]
Mapping out the investors in the crypto ecosystem: The cryptocurrency space in 2019 has continued to trend downward with bearish sentiment, coined “crypto winter.” Despite much enthusiasm when it comes to price, many institutions and investors have been hedging their bets that value will accrue and the industry and blockchain technology as a whole is here to stay. JPMorgan announced release plans for its own “stablecoin”, pegged to $1. The influential investment bank is currently recruiting more blockchain positions than any other financial firm. Other consulting firms hiring for blockchain- related positions include Deloitte, Accenture, EY, and KPMG. Tech firms, such as IBM and Cisco, have also been increasing their blockchain staff. Facebook has been quietly building a team dedicated to blockchain, and like JPMorgan, it also plans to launch a stablecoin sometime this year. This year we have also seen Fidelity , one of the largest asset managers, go live with its Bitcoin custodial service. These are a few examples of the underlying fundamentals that have been driving the crypto ecosystem despite the bear market. Previously, we've mapped out many of the investors involved in the ecosystem, but the crypto industry moves at a very rapid pace. Since that time, some of the landscape and trends have changed. One noticeable trend is that many traditional VCs have gained some exposure to the industry by investing in a handful of blockchain-related investments. Outside of bespoke investments, much of the industry tends to be incestuous in that it's common for many funds to share LPs, or even invest in one another. 2018 saw the parabolic-like growth of Crypto Funds launching, now we're seeing more overlap between those funds. Arrington XRP Capital’s LPs provided $30 million of new capital to acquire another fund based in Australia, Bytesize Capital. Ikigai Fund, a crypto-asset management firm, recently announced it had received a lead investment from Morgan Creek Digital. Story continues Polychain Capital , one of the first and most prominent hedge funds dedicated to the crypto industry, shows traces of LPs overlapping. While not all LPs are public, some of those reported include Andreessen Horowitz, Union Square Ventures, Founders Fund, Sequoia, Bain, and Bessemer. Another examples of this brings us to another crypto-asset hedge fund, Metastable, where Andreessen Horowitz, Sequoia Capital, Union Square Ventures, Founders Fund and Bessemer Venture Partners have all invested. While it is very much unknown how this space will evolve, many investors still believe there is something here. As Nassim Taleb says, “Don’t tell me what you 'think,' show me your portfolio.” Judging by the portfolios and actions of many prominent VC Firms, many believe this industry is here to stay. Traditional VCs Union Square Ventures is a venture capital firm based out of New York City (Polychain Capital, Dapper Labs, Protocol Labs, OB1) Andreessen Horowitz is a venture capital firm with $2.7 billion under management. (Notable Investments: Coinbase, Dapper Labs, DFINITY) Draper Associates is a seed stage venture fund investing in software and financial services (Notable investments: Bancor, BitPesa, Tezos) SV Angel is an angel based firm that invests in internet software companies (Notable investments: DFINITY, DIRT Protocol, Radar Relay) Lightspeed Venture Partners is a venture capital firm headquartered in San Francisco which provides capital to early-stage companies (Notable investments: Blockchain, LedgerX, Basis) Sequoia Capital is a VC firm in Menlo, California (Notable investments: Bitmain, MetaStable, Orchid Labs) Danhua Capital (Digital Horizon Capital) (Brave, Blockfolio, Chia) GGV Capital is a VC firm that invests in companies at multi-stages and manages $6.2 billion in capital (Notable investments: TrustToken, The Block) Social Starts is a Micro VC that invests in technology companies at seed and Series A stage (Notable investments: Basis, The Block, The Ocean) IDG Capital is an investment firm based out of Bejing that invests in early-stage tech companies Ceyuan Ventures is an early-stage venture capital firm in Beijing that invests in companies involved with IT and emerging markets RRE Ventures is an early- to mid-stage venture capital firm that predominantly funds technology companies. Across 7 different funds it has raised $1.5 billion in total General Catalyst is a venture capital firm based out of Cambridge, Mass. that invests in early-stage companies that building enterprise technologies or global consumer brands Kindred Ventures is a venture capital firm based in San Fransisco that invests in startups at early stage. Some of their investments in the blockchain space include Coinbase , Messari , dy/dx , Radar , SET Protocol , and Scalar Capital First Round Capital is a venture capital firm based in the San Francisco bay area that provides seed-stage funding to technology companies. Its blockchain portfolio includes Abra , Rare Bits , Numerai , and Amino Google Ventures is the venture capital investment arm of Alphabet. Inc. that provides seed, venture, and growth-stage funding to technology companies. It's provided funding to numerous blockchain based startups, including Storj , LedgerX , Veem , Gyft , and Ripple Earlybird Venture Capital is a venture capital investor, based in Berlin, primarily focused on investing in European technology companies. Some of their blockchain-based investments include Shapeshift , a digital asset exchange and BigChainDB , an IP database Mosaic Ventures , headquartered in London, is a venture capital firm focused on providing Series A investments. Some of its blockchain-based investments include Blockstream , Blockchain , Centrifuge , and MultiChain Mandra Capital , based in Hong Kong, is a investment holding company that offers venture and private equity investments. It's made investments in a handful of a blockchain companies including OkCoin , Chronicled , and PINTEC Camp One Ventures is a venture capital fund based in San Fransisco that predominantly invests in early stage FinTech companies. Some of its blockchain investments include Ripple , Augmate , and Mobius PreAngel , based in Bejing, is an investment fund focused on early stage investments in internet startups. PreAngel’s involvement in the blockchain space includes Sensay , OkCoin , Origin Protocol , and LendChain Abstract Ventures is a venture investor out of San Fransisco that invests in startups across many different sectors. It's invested in numerous blockchain companies, including Blockfolio , Brave , Compound , Decent , dy/dx , Harbor , Polychain Capital , and Ripple Foundation Capital is a venture capital firm based in Palo Alto, California. Its blockchain investments include Origin Protocol , BlockCypher , and OpenSea AME Cloud Ventures , centered in Palo Alto, invests in seed- to later-stage tech companies building infrastructure or value for data. AME has provided funding to numerous blockchain based companies, including Blockstream , ShoCard , BlockCypher , and Ripple Labs Streamlined Ventures , based in Palo Alto, is a lead stage investor that provides venture capital to technology companies (AI/Data science, Quantum Computing, Blockchain, AR/VR, and Robotics). Some of the companies it's provided investment for dealing with blockchain technology are Noble.AI , GranData , and Lively Tusk Ventures , headquartered in the greater New York area, invests in technology companies with high-growth opportunities, which may be in strictly regulated industries. Its portfolio includes Coinbase and Radar Catagonia Capital , based in Berlin, provides venture capital to software and service companies. Some of its blockchain investments include Envision , AppCoins , and HydroMiner Compound is a NYC-based venture capital firm that invests in technology companies. It has numerous investments in the blockchain space, which include Gem, Blockstack , Mattereum , Orchid , Nucypher , Casa , CryptoKitties , Kadena , Computable , Compound , and Livepeer Arbor Ventures is a Hong Kong-based VC investing in early stage companies. Its top blockchain investments include Abra , Silot , and Global ID Hard Yaka , headquartered in Sausalito, California, offers fund investing to exchange space startups. Its portfolio includes companies involved in the blockchain ecosystem, which includes Coinbase , Ripple , & LedgerX Ribbit Capital , located in the San Fransisco bay area, is a venture firm that invests in early stage companies looking to disrupt the financial services industry. A couple of its blockchain bets include Coinbase and Xapo Khosla Ventures is a venture capital firm based out of Menlo Park, California that predominantly invests in early stage companies relating to technology. Khosla has provided funding for Blockstream and Chain Intel Capital is the venture capital arm of Intel Corporation, responsible for investments, which include blockchain related companies R3 , Cognitive Scale , Starkware , and Filament Kima Ventures , headquartered in Paris, offers funding to two startups per week to promote growth. Its investments that deal with blockchain companies are Ledger and Paymium Lakestar , based in Zurich, Switzerland, is a venture capital firm that invests in technology companies. Lakestar has an investment in digital wallet provider Blockchain FundersClub is an online venture capital firm based out of San Fransisco. A couple of its blockchain investments include Coinbase and Shapeshift SBI Investment Co. is the investment arm of SBI focused on providing venture capital. Its SBI AI & Blockchain Fund is dedicated to investing in companies promoting the development of AI & blockchain technology. Some of its blockchain investments include Ripple , Othera , R3 , Bitflyer , Coinplug , Quoine , and BRD Kleiner Perkins is a venture capital firm based in Menlo Park, California. One blockchain company Kleiner has invested in is Audius , which is looking to decentralize the music industry. Qualcomm Ventures , based in San Diego, makes investments in technology companies. It had previously invested in blockchain startup 21.co, which later became Earn.com Lux Capital , NYC-based investor in early-stage science and technology companies. Blockstack , a blockchain based application working to decentralize the internet, is a part of its portfolio FinTech Collective is a venture capital fund based out of NYC focused on FinTech companies. Its portfolio includes blockchain based companies such as Axoni , UMA , and TradeBlock Amphora Capital is a Chinese venture firm and has invested in Wyre , a blockchain-based company Cherubic Ventures is a venture capital firm based out of Bejing that is active in both the U.S. and China. It has a fund specifically dedicated to digital currency and blockchain startups BlueYard Capital is a venture capital firm headquartered in Berlin. BlueYard has invested in Centrifuge , Decred , Filecoin , Protocol Labs , and AirTM BEENEXT is a venture capital firm based out of Singapore that invests predominately in India, Southeast Asia, Japan, and the U.S. The firm has invested in exchange platform Koinex and Stably , a stablecoin startup Innovation Endeavors , based in Palo Alto, California is focused on providing capital to early-stage tech companies. Innovation has provided funding to Coins and Blockstream Wavemaker Partners is an early-stage venture firm based in Singapore & Los Angeles. IQ Capital is a venture capital firm based out of Cambridge, UK. IQ has invested in blockchain based company Funderbeam ah! Ventures is an angel investment firm based out of India predominantly focused on the technology sector Variv Capital is a venture capital firm based in Mexico City focused on providing capital to early-stage technology businesses in Latin America. Variv has provided funding to the Bitcoin exchange Bitso Anthemis Group is a venture firm based in London that focuses on providing funding to companies that deal with financial services. Anthemis has invested in the blockchain company BigchainDB Hinge Capital based in San Diego, Hinge Capital offers venture capital to FinTech startups. Hinge has invested in Ripple and eToro SEB Venture Capital , based in Stockholm, Sweden, provides capital to FinTech companies. SEB has provided capital to Coinify and R3 SEED Capital is the largest venture capital firm in Denmark that invests in technology companies. SEED has providing funding to blockchain based company Coinify Playfair Capital is a venture firm based out of London that focuses on funding technology companies. Playfair has provided funding for Crypto Facilities and Numerai Bain Capital , headquartered in Boston, is an investment firm that specializes in private equity and venture capital. Bain has provided funding to Digital Currency Group and Compound Cantos Ventures is the venture capital arm of Cantor Fitzgerald that focuses on investing in developing technology companies. Cantos is based in New York and has invested in the blockchain lending platform Dharma & Stronghold , a trading platform Fund of Funds Vision Hill Advisors is a crypto-asset and blockchain focused fund of funds based in New York City Bitbull Capital based in San Fransisco, California is a cryptocurrency fund of hedgefunds CryptoLux Capital is a hedgefund of funds that focuses specifically on cryptoassets and the blockchain industry Block Asset Management based in Luxembourg, is a fund of funds that tracks the performance of specific blockchain/crypto funds Digital Ventures is the venture capital arm of SCB, the largest and oldest bank in Thailand Crypto VCs Blockchain Capital , based in the San Fransisco bay area, Blockchain Capital was founded in 2013 and has been providing venture capital for the blockchain industry ever since (Notable investments: Abra, Bitfury, Bitwise) Digital Currency Group , headquarted in New York, was founded in 2015 and has been providing investment for Bitcoin and blockchain companies (Notable investments: BitGo, Blockstream, Coinbase) Fenbushi Capital , based in Shanghai, China, was one of the first blockchain funds (2015) to focus primarily on blockchain companies (Notable investments: Abra, Parity, Sia) #Hashed is a crypto-asset fund based out of South Korea and San Fransisco (Notable Investments: Terra, AirSwap, EOS) Node Capital , based in Bejing China, is a venture capital firm focused on providing investment to the blockchain industry (Notable investments: aelf, Genaro Network, ChainUP) a16z crypto , based in Menlo Park, California, is a venture fund investing in blockchain companies (Notable investments: DFINITY, MakerDAO, Oasis Labs) Placeholder is a venture capital firm that invests in blockchain related companies (Investment: Decred) Medici Ventures, based in Salt Lake City, is a subsidiary of Overstock.com and manages their investments in the blockchain space (Notable Investments: T Zero, Ripio, Factom) INBlockchain is an investment group in the Blockchain space (Notable investments: Eximchain, ONO Social, AdRealm) Digital Finance Group , based in San Fransisco, manages blockchain assets across many different funds (Notable investments: Bloq, Brave, RSK) Primitive Ventures is a long-term cryptoasset fund based in San Fransisco, California 1confirmation is a venture capital firm dedicated to the crypto ecosystem based in San Fransisco (Notable investments: Basis, dy/dx, Harbor) Blockchange , headquarted in New York City, is a venture capital firm investing in early-stage blockchain companies (Notable investments: The Block, Skuchain, Tokenize) Castle Island Ventures is a venture capital firm based in Cambridge, Mass., focused exclusively on public blockchains (Notable investments: Zenledger, Casa, Dust Identity) Liberty City Ventures , based in New York City, is a Micro VC, that invests in technology startups Zhen Fund , based in Bejing, is a venture capital fund Limitless Crypto Investments , based in Houston, offers exposure to blockchain related companies and crypto-assets Tally Capital , headquartered in Chicago, provides venture capital to companies in the blockchain industry Libertus Capital , a venture capital firm, invests in protocols and blockchain companies BnkToTheFuture is a online platform based in Tokyo that provides funding to blockchain and FinTech companies Sora Ventures , based in Hong Kong, is a crypto-backed venture capital firm focused on making investments in digital assets and blockchain related companies Asset Management Bitwise , based out of San Fransisco, offers asset management to investors in the cryptocurrency space. Bitwise created the first crypto index fund in 2017 Grayscale , headquartered in the greater NYC area, is an investor in the blockchain industry that offers exposure to the asset class Arca , based out of Los Angeles, is an institutional asset management firm for crypto and blockchain investing BitSpread , with offices in London, Singapore, and New York, is a firm that provides asset management for the blockchain space FBG Capital is a digital asset management firm based out of Bejing, Jafco , based in Tokyo, is a multi-billion dollar asset manager. Some of its investments in the blockchain space include Nayuta, Tech Bureau, and COMSA Companies Coinbase Ventures , based in the San Francisco bay area, is the investment arm of Coinbase and invests in early stage blockchain companies (Notable investments: Reserve, The Block, TruStory) Bitmain Technologies (Notable investments: Block.one, OB1, Circle) Binance Labs based in Malta, is the incubator for Binance and invests in early stage teams/companies (Notable investments: Oasis Labs, Terra, Republic) Huobi Labs , based in Singapore, is a subsidiary of Huobi and a fund that acts as an incubator for blockchain companies (Notable investments: IOST, DATA, CoinMeet) Xpring is a Ripple initiative based in San Francisco that focuses on building infrastructure EOS VC provides venture capital to help grow the ecosystem of the EOS blockchain (Notable investments: Everipedia, High Fidelity) Hedge Funds Pantera Capital , based in Menlo Park, Calif., is an investment firm that focuses on blockchain technology and crypto-assets Scalar Capital is a hedgefund based in San Fransisco that specializes in crypto-assets Polychain Capital is a Crypto-Hedge Fund based in the San Fransisco Bay Area Amentum is hybrid crypto-asset investment firm investing in blockchain technology. Some of its current investments include Namebase, Handshake, Mattereum, Cent Network, and Token Soft Alphabit Fund is a digital currency fund (Notable investments: Archax, Cova Covalent.AI, Cred, Ipowwow!, Storecoin, Sunexchange, Tap, Skycoin, Metal, Nucleus.Vision, Aelf, DATA, Video Coin, Republic Protocol, and Crowd Machine) MetaStable Capital is a crypto-asset hedge fund based out of San Fransisco that invests directly into cryptocurrencies Paradigm is a crypto fund that has the backing of of Pantera Capital and Yale University (Notable investment: Tagomi) CoinFund is a crypto-asset investment and research firm based out of Brooklyn, New York. Multicoin Capital is a crypto-fund based in Houston that invests in blockchain technology Blocktower Capital is a cryptocurrency investment firm based in the greater New York City area Tetras Capital is a New York City-based crypto hedge fund that invests in blockchain technology Ikigai Asset Management is a long/short crypto-asset hedge fund based in Marina Del Ray, Calif. Galaxy Digital is a crypto merchant bank based in New York, Cayman Islands, New Jersey, Tokyo, and Hong Kong 8 Decimal Capital , based in San Fransisco, is a multi-investment firm focused on blockchain technology General Crypto is a long-only cryptoasset hedge fund based in Palm Harbor, Fla. Morgan Creek Digital is a hedge fund based in Chapel Hill, N.C. backed by Morgan Creek Capital (Notable investment: Ikigai Asset Management) Accelerators/Incubators Coinsilium, based out of London, is focused on the acceleration of blockchain technology (Notable investments: ICON, Medicalchain, Fantom) 500 startups is a venture capital firm based in Mountain View, Calif. The firm helps accelerate technology companies over numerous funds (Notable investments: Monetizr, Zeuss, Skyllz) Boost VC , based in San Mateo, Calif., provides capital to blockchain and VR companies (Notable investments: The Block, Coinbase, Aragon) ConsenSys , based in Brooklyn, New York, provides capital to companies and protocols building on the Ethereum network (Notable investments: Grid+, MetaMask, Gnosis) Science Blockchain , based in Los Angeles, is an incubator for blockchain technology (Notable investments: 8base, Springrole, Spl.yt) Techstars is an accelerator based in Boulder, Colo. (Notable investments: Hyperledger, Wala) || Mapping out the investors in the crypto ecosystem: The cryptocurrency space in 2019 has continued to trend downward with bearish sentiment, coined “crypto winter.” Despite much enthusiasm when it comes to price, many institutions and investors have been hedging their bets that value will accrue and the industry and blockchain technology as a whole is here to stay.
JPMorgan announced release plans for its own “stablecoin”, pegged to $1. The influential investment bank is currentlyrecruiting moreblockchain positions than any other financial firm.Other consultingfirmshiring for blockchain-related positions include Deloitte, Accenture, EY, and KPMG. Tech firms, such as IBM and Cisco, have also been increasing their blockchain staff. Facebook has been quietly building a team dedicated to blockchain, and like JPMorgan, it also plans to launch a stablecoin sometime this year. This yearwe have also seen Fidelity, one of the largest asset managers, go live with its Bitcoin custodial service. These are a few examples of the underlying fundamentals that have been driving the crypto ecosystem despite the bear market.
Previously, we've mapped out many of the investors involved in the ecosystem, but the crypto industry moves at a very rapid pace. Since that time, some of the landscape and trends have changed.
One noticeable trend is that many traditional VCs have gained some exposure to the industry by investing in a handful of blockchain-related investments.
Outside of bespoke investments, much of the industry tends to be incestuous in that it's common for many funds to share LPs, or even invest in one another. 2018 saw the parabolic-like growth of Crypto Funds launching, now we're seeing more overlap between those funds. Arrington XRP Capital’s LPs provided $30 million of new capital to acquire another fund based in Australia, Bytesize Capital. Ikigai Fund, a crypto-asset management firm, recently announced it had received a lead investment from Morgan Creek Digital.
Polychain Capital, one of the first and most prominent hedge funds dedicated to the crypto industry, shows traces of LPs overlapping. While not all LPs are public, some of those reported include Andreessen Horowitz, Union Square Ventures, Founders Fund, Sequoia, Bain, and Bessemer. Another examples of this brings us to another crypto-asset hedge fund, Metastable, where Andreessen Horowitz, Sequoia Capital, Union Square Ventures, Founders Fund and Bessemer Venture Partners have all invested.
While it is very much unknown how this space will evolve, many investors still believe there is something here. As Nassim Taleb says, “Don’t tell me what you 'think,' show me your portfolio.” Judging by the portfolios and actions of many prominent VC Firms, many believe this industry is here to stay.
Traditional VCs
• Union Square Venturesis a venture capital firm based out of New York City (Polychain Capital, Dapper Labs, Protocol Labs, OB1)
• Andreessen Horowitzis a venture capital firm with $2.7 billion under management. (Notable Investments: Coinbase, Dapper Labs, DFINITY)
• Draper Associatesis a seed stage venture fund investing in software and financial services (Notable investments: Bancor, BitPesa, Tezos)
• SV Angelis an angel based firm that invests in internet software companies (Notable investments: DFINITY, DIRT Protocol, Radar Relay)
• Lightspeed Venture Partnersis a venture capital firm headquartered in San Francisco which provides capital to early-stage companies (Notable investments: Blockchain, LedgerX, Basis)
• Sequoia Capitalis a VC firm in Menlo, California (Notable investments: Bitmain, MetaStable, Orchid Labs)
• Danhua Capital (Digital Horizon Capital)(Brave, Blockfolio, Chia)
• GGV Capitalis a VC firm that invests in companies at multi-stages and manages $6.2 billion in capital (Notable investments: TrustToken, The Block)
• Social Startsis a Micro VC that invests in technology companies at seed and Series A stage (Notable investments: Basis, The Block, The Ocean)
• IDG Capitalis an investment firm based out of Bejing that invests in early-stage tech companies
• Ceyuan Venturesis an early-stage venture capital firm in Beijing that invests in companies involved with IT and emerging markets
• RRE Venturesis an early- to mid-stage venture capital firm that predominantly funds technology companies. Across 7 different funds it has raised $1.5 billion in total
• General Catalystis a venture capital firm based out of Cambridge, Mass. that invests in early-stage companies that building enterprise technologies or global consumer brands
• Kindred Venturesis a venture capital firm based in San Fransisco that invests in startups at early stage. Some of their investments in the blockchain space includeCoinbase,Messari,dy/dx,Radar,SET Protocol, andScalar Capital
• First Round Capitalis a venture capital firm based in the San Francisco bay area that provides seed-stage funding to technology companies. Its blockchain portfolio includesAbra,Rare Bits,Numerai, andAmino
• Google Venturesis the venture capital investment arm of Alphabet. Inc. that provides seed, venture, and growth-stage funding to technology companies. It's provided funding to numerous blockchain based startups, includingStorj,LedgerX,Veem,Gyft, andRipple
• Earlybird Venture Capitalis a venture capital investor, based in Berlin, primarily focused on investing in European technology companies. Some of their blockchain-based investments includeShapeshift, a digital asset exchange andBigChainDB, an IP database
• Mosaic Ventures, headquartered in London, is a venture capital firm focused on providing Series A investments. Some of its blockchain-based investments includeBlockstream,Blockchain,Centrifuge, andMultiChain
• Mandra Capital, based in Hong Kong, is a investment holding company that offers venture and private equity investments. It's made investments in a handful of a blockchain companies includingOkCoin,Chronicled, andPINTEC
• Camp One Venturesis a venture capital fund based in San Fransisco that predominantly invests in early stage FinTech companies. Some of its blockchain investments includeRipple,Augmate, andMobius
• PreAngel, based in Bejing, is an investment fund focused on early stage investments in internet startups. PreAngel’s involvement in the blockchain space includesSensay,OkCoin,Origin Protocol, andLendChain
• Abstract Venturesis a venture investor out of San Fransisco that invests in startups across many different sectors. It's invested in numerous blockchain companies, includingBlockfolio,Brave,Compound,Decent,dy/dx,Harbor,Polychain Capital, andRipple
• Foundation Capitalis a venture capital firm based in Palo Alto, California. Its blockchain investments includeOrigin Protocol,BlockCypher, andOpenSea
• AME Cloud Ventures, centered in Palo Alto, invests in seed- to later-stage tech companies building infrastructure or value for data. AME has provided funding to numerous blockchain based companies, includingBlockstream,ShoCard,BlockCypher, andRipple Labs
• Streamlined Ventures, based in Palo Alto, is a lead stage investor that provides venture capital to technology companies (AI/Data science, Quantum Computing, Blockchain, AR/VR, and Robotics). Some of the companies it's provided investment for dealing with blockchain technology areNoble.AI,GranData, and Lively
• Tusk Ventures, headquartered in the greater New York area, invests in technology companies with high-growth opportunities, which may be in strictly regulated industries. Its portfolio includesCoinbaseandRadar
• Catagonia Capital, based in Berlin, provides venture capital to software and service companies. Some of its blockchain investments includeEnvision,AppCoins, andHydroMiner
• Compoundis a NYC-based venture capital firm that invests in technology companies. It has numerous investments in the blockchain space, which include Gem,Blockstack,Mattereum,Orchid,Nucypher,Casa,CryptoKitties,Kadena,Computable,Compound, andLivepeer
• Arbor Venturesis a Hong Kong-based VC investing in early stage companies. Its top blockchain investments includeAbra,Silot, andGlobal ID
• Hard Yaka, headquartered in Sausalito, California, offers fund investing to exchange space startups. Its portfolio includes companies involved in the blockchain ecosystem, which includesCoinbase,Ripple, &LedgerX
• Ribbit Capital, located in the San Fransisco bay area, is a venture firm that invests in early stage companies looking to disrupt the financial services industry. A couple of its blockchain bets includeCoinbaseand Xapo
• Khosla Venturesis a venture capital firm based out of Menlo Park, California that predominantly invests in early stage companies relating to technology. Khosla has provided funding forBlockstreamandChain
• Intel Capitalis the venture capital arm of Intel Corporation, responsible for investments, which include blockchain related companiesR3,Cognitive Scale,Starkware, andFilament
• Kima Ventures, headquartered in Paris, offers funding to two startups per week to promote growth. Its investments that deal with blockchain companies areLedgerandPaymium
• Lakestar, based in Zurich, Switzerland, is a venture capital firm that invests in technology companies. Lakestar has an investment in digital wallet providerBlockchain
• FundersClubis an online venture capital firm based out of San Fransisco. A couple of its blockchain investments includeCoinbaseandShapeshift
• SBI Investment Co.is the investment arm of SBI focused on providing venture capital. Its SBI AI & Blockchain Fund is dedicated to investing in companies promoting the development of AI & blockchain technology. Some of its blockchain investments includeRipple,Othera,R3,Bitflyer,Coinplug,Quoine, andBRD
• Kleiner Perkinsis a venture capital firm based in Menlo Park, California. One blockchain company Kleiner has invested in isAudius, which is looking to decentralize the music industry.
• Qualcomm Ventures, based in San Diego, makes investments in technology companies. It had previously invested in blockchain startup 21.co, which later becameEarn.com
• Lux Capital, NYC-based investor in early-stage science and technology companies.Blockstack, a blockchain based application working to decentralize the internet, is a part of its portfolio
• FinTech Collectiveis a venture capital fund based out of NYC focused on FinTech companies. Its portfolio includes blockchain based companies such asAxoni,UMA, andTradeBlock
• Amphora Capitalis a Chinese venture firm and has invested inWyre, a blockchain-based company
• Cherubic Venturesis a venture capital firm based out of Bejing that is active in both the U.S. and China. It has a fund specifically dedicated to digital currency and blockchain startups
• BlueYard Capitalis a venture capital firm headquartered in Berlin. BlueYard has invested inCentrifuge,Decred,Filecoin,Protocol Labs, andAirTM
• BEENEXTis a venture capital firm based out of Singapore that invests predominately in India, Southeast Asia, Japan, and the U.S. The firm has invested in exchange platformKoinexandStably, a stablecoin startup
• Innovation Endeavors, based in Palo Alto, California is focused on providing capital to early-stage tech companies. Innovation has provided funding toCoinsandBlockstream
• Wavemaker Partnersis an early-stage venture firm based in Singapore & Los Angeles.
• IQ Capitalis a venture capital firm based out of Cambridge, UK. IQ has invested in blockchain based companyFunderbeam
• ah! Venturesis an angel investment firm based out of India predominantly focused on the technology sector
• Variv Capitalis a venture capital firm based in Mexico City focused on providing capital to early-stage technology businesses in Latin America. Variv has provided funding to the Bitcoin exchangeBitso
• Anthemis Groupis a venture firm based in London that focuses on providing funding to companies that deal with financial services. Anthemis has invested in the blockchain companyBigchainDB
• Hinge Capitalbased in San Diego, Hinge Capital offers venture capital to FinTech startups. Hinge has invested inRippleandeToro
• SEB Venture Capital, based in Stockholm, Sweden, provides capital to FinTech companies. SEB has provided capital toCoinifyandR3
• SEED Capitalis the largest venture capital firm in Denmark that invests in technology companies. SEED has providing funding to blockchain based companyCoinify
• Playfair Capitalis a venture firm based out of London that focuses on funding technology companies. Playfair has provided funding forCrypto FacilitiesandNumerai
• Bain Capital, headquartered in Boston, is an investment firm that specializes in private equity and venture capital. Bain has provided funding toDigital Currency GroupandCompound
• Cantos Venturesis the venture capital arm of Cantor Fitzgerald that focuses on investing in developing technology companies. Cantos is based in New York and has invested in the blockchain lending platformDharma&Stronghold, a trading platform
Fund of Funds
• Vision Hill Advisorsis a crypto-asset and blockchain focused fund of funds based in New York City
• Bitbull Capitalbased in San Fransisco, California is a cryptocurrency fund of hedgefunds
• CryptoLux Capitalis a hedgefund of funds that focuses specifically on cryptoassets and the blockchain industry
• Block Asset Managementbased in Luxembourg, is a fund of funds that tracks the performance of specific blockchain/crypto funds
• Digital Venturesis the venture capital arm of SCB, the largest and oldest bank in Thailand
Crypto VCs
• Blockchain Capital, based in the San Fransisco bay area, Blockchain Capital was founded in 2013 and has been providing venture capital for the blockchain industry ever since (Notable investments: Abra, Bitfury, Bitwise)
• Digital Currency Group, headquarted in New York, was founded in 2015 and has been providing investment for Bitcoin and blockchain companies (Notable investments: BitGo, Blockstream, Coinbase)
• Fenbushi Capital, based in Shanghai, China, was one of the first blockchain funds (2015) to focus primarily on blockchain companies (Notable investments: Abra, Parity, Sia)
• #Hashedis a crypto-asset fund based out of South Korea and San Fransisco (Notable Investments: Terra, AirSwap, EOS)
• Node Capital, based in Bejing China, is a venture capital firm focused on providing investment to the blockchain industry (Notable investments: aelf, Genaro Network, ChainUP)
• a16z crypto, based in Menlo Park, California, is a venture fund investing in blockchain companies (Notable investments: DFINITY, MakerDAO, Oasis Labs)
• Placeholderis a venture capital firm that invests in blockchain related companies (Investment: Decred)
• Medici Ventures,based in Salt Lake City, is a subsidiary of Overstock.com and manages their investments in the blockchain space (Notable Investments: T Zero, Ripio, Factom)
• INBlockchainis an investment group in the Blockchain space (Notable investments: Eximchain, ONO Social, AdRealm)
• Digital Finance Group, based in San Fransisco, manages blockchain assets across many different funds (Notable investments: Bloq, Brave, RSK)
• Primitive Venturesis a long-term cryptoasset fund based in San Fransisco, California
• 1confirmationis a venture capital firm dedicated to the crypto ecosystem based in San Fransisco (Notable investments: Basis, dy/dx, Harbor)
• Blockchange, headquarted in New York City, is a venture capital firm investing in early-stage blockchain companies (Notable investments: The Block, Skuchain, Tokenize)
• Castle Island Venturesis a venture capital firm based in Cambridge, Mass., focused exclusively on public blockchains (Notable investments: Zenledger, Casa, Dust Identity)
• Liberty City Ventures, based in New York City, is a Micro VC, that invests in technology startups
• Zhen Fund, based in Bejing, is a venture capital fund
• Limitless Crypto Investments, based in Houston, offers exposure to blockchain related companies and crypto-assets
• Tally Capital, headquartered in Chicago, provides venture capital to companies in the blockchain industry
• Libertus Capital, a venture capital firm, invests in protocols and blockchain companies
• BnkToTheFutureis a online platform based in Tokyo that provides funding to blockchain and FinTech companies
• Sora Ventures, based in Hong Kong, is a crypto-backed venture capital firm focused on making investments in digital assets and blockchain related companies
Asset Management
• Bitwise, based out of San Fransisco, offers asset management to investors in the cryptocurrency space. Bitwise created the first crypto index fund in 2017
• Grayscale, headquartered in the greater NYC area, is an investor in the blockchain industry that offers exposure to the asset class
• Arca, based out of Los Angeles, is an institutional asset management firm for crypto and blockchain investing
• BitSpread, with offices in London, Singapore, and New York, is a firm that provides asset management for the blockchain space
• FBG Capitalis a digital asset management firm based out of Bejing,
• Jafco, based in Tokyo, is a multi-billion dollar asset manager. Some of its investments in the blockchain space include Nayuta, Tech Bureau, and COMSA
Companies
• Coinbase Ventures, based in the San Francisco bay area, is the investment arm of Coinbase and invests in early stage blockchain companies (Notable investments: Reserve, The Block, TruStory)
• Bitmain Technologies(Notable investments: Block.one, OB1, Circle)
• Binance Labsbased in Malta, is the incubator for Binance and invests in early stage teams/companies (Notable investments: Oasis Labs, Terra, Republic)
• Huobi Labs, based in Singapore, is a subsidiary of Huobi and a fund that acts as an incubator for blockchain companies (Notable investments: IOST, DATA, CoinMeet)
• Xpringis a Ripple initiative based in San Francisco that focuses on building infrastructure
• EOS VCprovides venture capital to help grow the ecosystem of the EOS blockchain (Notable investments: Everipedia, High Fidelity)
Hedge Funds
• Pantera Capital, based in Menlo Park, Calif., is an investment firm that focuses on blockchain technology and crypto-assets
• Scalar Capitalis a hedgefund based in San Fransisco that specializes in crypto-assets
• Polychain Capital is a Crypto-Hedge Fund based in the San Fransisco Bay Area
• Amentumis hybrid crypto-asset investment firm investing in blockchain technology. Some of its current investments include Namebase, Handshake, Mattereum, Cent Network, and Token Soft
• Alphabit Fund is a digital currency fund (Notable investments: Archax, Cova Covalent.AI, Cred, Ipowwow!, Storecoin, Sunexchange, Tap, Skycoin, Metal, Nucleus.Vision, Aelf, DATA, Video Coin, Republic Protocol, and Crowd Machine)
• MetaStable Capitalis a crypto-asset hedge fund based out of San Fransisco that invests directly into cryptocurrencies
• Paradigmis a crypto fund that has the backing of of Pantera Capital and Yale University (Notable investment: Tagomi)
• CoinFund is a crypto-asset investment and research firm based out of Brooklyn, New York.
• Multicoin Capitalis a crypto-fund based in Houston that invests in blockchain technology
• Blocktower Capitalis a cryptocurrency investment firm based in the greater New York City area
• Tetras Capitalis a New York City-based crypto hedge fund that invests in blockchain technology
• Ikigai Asset Managementis a long/short crypto-asset hedge fund based in Marina Del Ray, Calif.
• Galaxy Digitalis a crypto merchant bank based in New York, Cayman Islands, New Jersey, Tokyo, and Hong Kong
• 8 Decimal Capital, based in San Fransisco, is a multi-investment firm focused on blockchain technology
• General Cryptois a long-only cryptoasset hedge fund based in Palm Harbor, Fla.
• Morgan Creek Digitalis a hedge fund based in Chapel Hill, N.C. backed by Morgan Creek Capital (Notable investment: Ikigai Asset Management)
Accelerators/Incubators
• Coinsilium,based out of London, is focused on the acceleration of blockchain technology (Notable investments: ICON, Medicalchain, Fantom)
• 500 startupsis a venture capital firm based in Mountain View, Calif. The firm helps accelerate technology companies over numerous funds (Notable investments: Monetizr, Zeuss, Skyllz)
• Boost VC, based in San Mateo, Calif., provides capital to blockchain and VR companies (Notable investments: The Block, Coinbase, Aragon)
• ConsenSys, based in Brooklyn, New York, provides capital to companies and protocols building on the Ethereum network (Notable investments: Grid+, MetaMask, Gnosis)
• Science Blockchain, based in Los Angeles, is an incubator for blockchain technology (Notable investments: 8base, Springrole, Spl.yt)
• Techstarsis an accelerator based in Boulder, Colo. (Notable investments: Hyperledger, Wala) || US Stocks Market Overview – Stocks Surge as Q2 Commences, April is Seasonally Strong: US stocks surged out of the starting gates in the Q2, notching up broad based gains. Most sectors were higher led by Financials and Technology, While Utililites and Consumer Staples bucked the trend. US data was mixed on Monday, with stronger than expected ISM Manufacturing data, offsetting weaker than expected retail sales. Before the opening bell, stocks were buoyed by gains in China following a stronger than expected PMI manufacturing report which showed expansion in that space following February’s contractionary results.
Seasonality points to higher stock prices in April. Over the past 20-years, the Dow Industrial Average has increased 80% of the time for an average gain of 2.3%. April is generally the best month of the year and on average it it. During the past 5-years, the Dow Industrials has increased 100% of the time with an average gain of 0.6%.
US manufacturing rose more than expected on Monday. The ISM manfacutring PMI rose to 55.3 in March from 54.2 in February. Expectations had been for an increase to 54.4. The employment index rose to 57.5 from 52.3 a month earlier. Expectations called for a reading of 52.4. The new orders index rose to 57.4 from 55.5 in February. The prices paid index rose to 54.3. The production also increased with that index at ticking up to 55.8 from 54.8 the month before.
U.S. construction spending increased in February buoyed by increases both private and public construction projects. The Commerce Department reported that construction spending rose 1.0% to a nine-month high after an upwardly revised 2.5% surge in January. Expectations had been for construction spending to decline by 0.2%. Construction spending increased 1.1% on a year-on-year basis in February.
Retail sales unexpectedly dipped in February by 0.2 compared to expectations that it would increase by 0.2%. January was revised higher to show retail sales increasing 0.7% instead of gaining 0.2% which was previously reported. February retail sales report was delayed by a 35-day partial shutdown of the federal government that ended on Jan. 25.
The Energy sector surged higher as oil prices surged 2.3% on Monday is driven by news that OPEC’s oil production in March 2019 fell to its lowest level since February 2015. The impetus for the decline was that Saudi Arabia cut more than it had pledged under the output cut deal and Venezuela continued to struggle amid US sanctions. The combined production of all 14 OPEC members stood at 30.4 million barrels per day last month, down by 280,000 barrels per day compared to February. Saudi Arabia’s share of the OPEC cuts is 322,000 barrels a day from the October level of 10.633 million, to reduce output to 10.311 million barrels day.
Thisarticlewas originally posted on FX Empire
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• AUD/USD Forex Technical Analysis – April 2, 2019 Forecast || US Stocks Market Overview – Stocks Surge as Q2 Commences, April is Seasonally Strong: US stocks surged out of the starting gates in the Q2, notching up broad based gains. Most sectors were higher led by Financials and Technology, While Utililites and Consumer Staples bucked the trend. US data was mixed on Monday, with stronger than expected ISM Manufacturing data, offsetting weaker than expected retail sales. Before the opening bell, stocks were buoyed by gains in China following a stronger than expected PMI manufacturing report which showed expansion in that space following February’s contractionary results. Seasonality Points to a Strong April Seasonality points to higher stock prices in April. Over the past 20-years, the Dow Industrial Average has increased 80% of the time for an average gain of 2.3%. April is generally the best month of the year and on average it it. During the past 5-years, the Dow Industrials has increased 100% of the time with an average gain of 0.6%. ISM Manufacturing Increased More than Expected US manufacturing rose more than expected on Monday. The ISM manfacutring PMI rose to 55.3 in March from 54.2 in February. Expectations had been for an increase to 54.4. The employment index rose to 57.5 from 52.3 a month earlier. Expectations called for a reading of 52.4. The new orders index rose to 57.4 from 55.5 in February. The prices paid index rose to 54.3. The production also increased with that index at ticking up to 55.8 from 54.8 the month before. Construction spending surged to 9-month high U.S. construction spending increased in February buoyed by increases both private and public construction projects. The Commerce Department reported that construction spending rose 1.0% to a nine-month high after an upwardly revised 2.5% surge in January. Expectations had been for construction spending to decline by 0.2%. Construction spending increased 1.1% on a year-on-year basis in February. Retail Sales Disappoints Retail sales unexpectedly dipped in February by 0.2 compared to expectations that it would increase by 0.2%. January was revised higher to show retail sales increasing 0.7% instead of gaining 0.2% which was previously reported. February retail sales report was delayed by a 35-day partial shutdown of the federal government that ended on Jan. 25. Story continues Energy Shares Rally as Oil Surges The Energy sector surged higher as oil prices surged 2.3% on Monday is driven by news that OPEC’s oil production in March 2019 fell to its lowest level since February 2015. The impetus for the decline was that Saudi Arabia cut more than it had pledged under the output cut deal and Venezuela continued to struggle amid US sanctions. The combined production of all 14 OPEC members stood at 30.4 million barrels per day last month, down by 280,000 barrels per day compared to February. Saudi Arabia’s share of the OPEC cuts is 322,000 barrels a day from the October level of 10.633 million, to reduce output to 10.311 million barrels day. This article was originally posted on FX Empire More From FXEMPIRE: Natural Gas Price Prediction – Prices Rebound but Remain Rangebound EUR/USD Price Forecast – Euro bounces for major support level Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 02/04/19 GBP/JPY Price Forecast – British pound rallies to kick off the week Major Indexes Jump Over 1 Percent on Strong US and China Data AUD/USD Forex Technical Analysis – April 2, 2019 Forecast || How Crypto Is Taxed in the US: A Taxpayer’s Dilemma: Last year was a bear market for cryptocurrencies. Many investors who did not know how to hedge their cryptocurrency investments saw these investments lose value from the market highs of 2017. Facing the deadline to report their taxes by April 15, 2019, United States individual taxpayers may wonder what their United States tax reporting obligations are if they held, donated or sold/exchanged their cryptocurrencies at a loss during 2018. A taxpayer’s dilemma Let's imagine a potential 2019 taxpayer sitting in front of his tax advisor and feeling embarrassed to tell him that he had lost 90 percent of a 100K investment in cryptocurrencies when the cryptocurrency markets experienced a downturn during 2018, with leading cryptocurrencies like Bitcoin ( BTC ) and Ethereum ( ETH ) down 80 percent or more. The taxpayer invested heavily into crypto at the end of 2017 and beginning of 2018 — which he said he regretted everyday since then, because he lost almost all of it. The tax advisor assured the taxpayer that this would give rise to a taxable event only if he sold, exchanged or donated his cryptocurrency during 2018, and that these things would need to be reported on his U.S. tax return — noting, however, that holding cryptocurrencies would not give rise to a taxable event but may give rise to tax-reporting requirements if the cryptocurrencies were held in a foreign financial account. Cryptocurrency hodlers If a taxpayer for 2018 has not sold, exchanged or donated the cryptocurrency he bought at the end of 2017 or beginning of 2018 and is still holding them, then there is no taxable event to report on his U.S. tax return. Tax-reporting requirements would arise if the taxpayer held these cryptocurrencies in a foreign financial account and if mandatory financial thresholds were met under Foreign Bank Account Report (FBAR) and Foreign Account Tax Compliance Act (FATCA) reporting requirements, according to a letter from the American Institute of Certified Public Accountants (AICPA) to the Internal Revenue Service ( IRS ). Story continues FBAR : A taxpayer with a financial interest in or signatory authority over a foreign financial account must file a foreign bank account report (FBAR) FinCEN Form 114 if the aggregate value of the foreign financial account exceeds $10,000 at any time during the calendar year. Noncompliance with FBAR would subject a taxpayer to steep civil and criminal penalties. Each nonwillful failure to file violation can carry a civil penalty of $10,000. Penalties for each willful violation could be the greater of $100,000 or 50 percent of the amount in the account. FATCA : A taxpayer with foreign financial assets of $50,000 or more must report it for FATCA purposes on Form 8938 . It is recommended that cryptocurrency-invested hedge fund accounts and cryptocurrency-denominated exchange accounts be reported in the summary information in Part I of Form 8938. Specific information should be given in Part V. Noncompliance with FATCA could subject a taxpayer to taxes, severe penalties in excess of the unreported foreign assets, and exclusion from access to U.S. markets, which could include a regulated cryptocurrency derivatives clearing market. Cryptocurrency charitable donations A taxpayer may feel generous and decide to donate their cryptocurrencies to a tax code Section 501(c)(3) tax-exempt charity of their choice, to give the charity a large gift. Since a cryptocurrency is considered property for U.S. tax purposes , it will be valued at the time of donation at its fair market value. Donors of cryptocurrencies of over $500 — which are noncash donations — will be required to comply with IRS appraisal requirements by filing Form 8283 . The donation will be tax deductible for the U.S. individual donor as follows: If the donor held the cryptocurrency as a capital asset for more than a year, the donor will be able to deduct the fair market value of the gift up to 30 percent of their adjusted gross income (AGI). If the donor held the cryptocurrency as a capital asset for a short term (i.e., less than one year) or as ordinary income property, the donor will be able to deduct the lesser of cost basis or fair market value up to 50 percent of their AGI. If the donor received the cryptocurrency as payment for services rendered, the donor may claim a deduction of the fair market value on the date of receipt. Charitable contributions that are not deductible in the current year, because they exceed the taxpayer’s AGI limitation, can be carried forward for five years. Cryptocurrency investment sold or exchanged at a loss If a taxpayer held the cryptocurrency as an investment and sold it during 2018, he will be taxed just like bonds or stocks at capital gains rate, which is calculated by subtracting the cost of the asset at the time of purchase from the amount at which it was sold. That difference is typically levied at between 15 percent and 20 percent for long-term investments, held for over a year, or at short-term rates, ranging from 10 percent to 37 percent. If the taxpayer is in the three highest income brackets, he may also have to pay a 3.8 percent tax on the net investment income from short-term investments, held for less than a year. A taxpayer can use his cryptocurrency investment capital losses to offset gains and deduct the difference on his tax return, up to $3,000 per year. Cryptocurrency software services such as Bitcoin.tax or Cointracking.info may ease the calculation of cryptocurrency investment gains and losses that are reported on Form 8949 , which then becomes part of a taxpayer’s Form 1040 Schedule D . Any portion of a capital loss that exceeds the $3,000 annual deduction limit may be carried forward, but not carried back. According to a survey prepared by personal finance company Credit Karma, only around half of cryptocurrency investors who lost $1.7 billion during 2018 plan to report their losses to the IRS. Their reasons for staying quiet is partially tied to not knowing if they can deduct their losses, believing they don't have to, or that they neglected to report cryptocurrency gains in past years and now are afraid to report their cryptocurrency losses. However, taxpayers who have neglected to pay their cryptocurrency-related U.S. taxes and who file their applicable U.S. tax returns should do so by April 15, 2019 to avoid interest, penalties, and even jail time for tax evasion or, worse, for tax fraud, since “cryptocurrencies are a key part of the Joint Chiefs of Global Tax Enforcement’s work,” Don Fort, chief of the Criminal Investigation Department at the IRS said at a Joint Chiefs of Global Tax Enforcement meeting in Amsterdam, citing the risk that such coins are used in the U.S. to avoid paying taxes. Selva Ozelli , Esq., CPA is an international tax attorney and CPA who frequently writes about tax, legal and accounting issues for Tax Notes, Bloomberg BNA, other publications and the OECD. Related Articles: Coinbase Expands Into Cross-Border Payments Tether Daily Transaction Volume Hits All-Time High New USStocks Token Lets Investors Access US Stock Market With Stablecoin Dai OKEx Founder Reveals OK Group’s Partnership With US Trust Firm, Plan to Launch Stablecoin || How Crypto Is Taxed in the US: A Taxpayer’s Dilemma: Last year was a bear market for cryptocurrencies. Many investors who did not know how to hedge their cryptocurrency investments saw these investments lose value from the market highs of 2017. Facing the deadline to report their taxes by April 15, 2019, United States individual taxpayers may wonder what their United States tax reporting obligations are if they held, donated or sold/exchanged their cryptocurrencies at a loss during 2018. A taxpayer’s dilemma Let's imagine a potential 2019 taxpayer sitting in front of his tax advisor and feeling embarrassed to tell him that he had lost 90 percent of a 100K investment in cryptocurrencies when the cryptocurrency markets experienced a downturn during 2018, with leading cryptocurrencies like Bitcoin ( BTC ) and Ethereum ( ETH ) down 80 percent or more. The taxpayer invested heavily into crypto at the end of 2017 and beginning of 2018 — which he said he regretted everyday since then, because he lost almost all of it. The tax advisor assured the taxpayer that this would give rise to a taxable event only if he sold, exchanged or donated his cryptocurrency during 2018, and that these things would need to be reported on his U.S. tax return — noting, however, that holding cryptocurrencies would not give rise to a taxable event but may give rise to tax-reporting requirements if the cryptocurrencies were held in a foreign financial account. Cryptocurrency hodlers If a taxpayer for 2018 has not sold, exchanged or donated the cryptocurrency he bought at the end of 2017 or beginning of 2018 and is still holding them, then there is no taxable event to report on his U.S. tax return. Tax-reporting requirements would arise if the taxpayer held these cryptocurrencies in a foreign financial account and if mandatory financial thresholds were met under Foreign Bank Account Report (FBAR) and Foreign Account Tax Compliance Act (FATCA) reporting requirements, according to a letter from the American Institute of Certified Public Accountants (AICPA) to the Internal Revenue Service ( IRS ). Story continues FBAR : A taxpayer with a financial interest in or signatory authority over a foreign financial account must file a foreign bank account report (FBAR) FinCEN Form 114 if the aggregate value of the foreign financial account exceeds $10,000 at any time during the calendar year. Noncompliance with FBAR would subject a taxpayer to steep civil and criminal penalties. Each nonwillful failure to file violation can carry a civil penalty of $10,000. Penalties for each willful violation could be the greater of $100,000 or 50 percent of the amount in the account. FATCA : A taxpayer with foreign financial assets of $50,000 or more must report it for FATCA purposes on Form 8938 . It is recommended that cryptocurrency-invested hedge fund accounts and cryptocurrency-denominated exchange accounts be reported in the summary information in Part I of Form 8938. Specific information should be given in Part V. Noncompliance with FATCA could subject a taxpayer to taxes, severe penalties in excess of the unreported foreign assets, and exclusion from access to U.S. markets, which could include a regulated cryptocurrency derivatives clearing market. Cryptocurrency charitable donations A taxpayer may feel generous and decide to donate their cryptocurrencies to a tax code Section 501(c)(3) tax-exempt charity of their choice, to give the charity a large gift. Since a cryptocurrency is considered property for U.S. tax purposes , it will be valued at the time of donation at its fair market value. Donors of cryptocurrencies of over $500 — which are noncash donations — will be required to comply with IRS appraisal requirements by filing Form 8283 . The donation will be tax deductible for the U.S. individual donor as follows: If the donor held the cryptocurrency as a capital asset for more than a year, the donor will be able to deduct the fair market value of the gift up to 30 percent of their adjusted gross income (AGI). If the donor held the cryptocurrency as a capital asset for a short term (i.e., less than one year) or as ordinary income property, the donor will be able to deduct the lesser of cost basis or fair market value up to 50 percent of their AGI. If the donor received the cryptocurrency as payment for services rendered, the donor may claim a deduction of the fair market value on the date of receipt. Charitable contributions that are not deductible in the current year, because they exceed the taxpayer’s AGI limitation, can be carried forward for five years. Cryptocurrency investment sold or exchanged at a loss If a taxpayer held the cryptocurrency as an investment and sold it during 2018, he will be taxed just like bonds or stocks at capital gains rate, which is calculated by subtracting the cost of the asset at the time of purchase from the amount at which it was sold. That difference is typically levied at between 15 percent and 20 percent for long-term investments, held for over a year, or at short-term rates, ranging from 10 percent to 37 percent. If the taxpayer is in the three highest income brackets, he may also have to pay a 3.8 percent tax on the net investment income from short-term investments, held for less than a year. A taxpayer can use his cryptocurrency investment capital losses to offset gains and deduct the difference on his tax return, up to $3,000 per year. Cryptocurrency software services such as Bitcoin.tax or Cointracking.info may ease the calculation of cryptocurrency investment gains and losses that are reported on Form 8949 , which then becomes part of a taxpayer’s Form 1040 Schedule D . Any portion of a capital loss that exceeds the $3,000 annual deduction limit may be carried forward, but not carried back. According to a survey prepared by personal finance company Credit Karma, only around half of cryptocurrency investors who lost $1.7 billion during 2018 plan to report their losses to the IRS. Their reasons for staying quiet is partially tied to not knowing if they can deduct their losses, believing they don't have to, or that they neglected to report cryptocurrency gains in past years and now are afraid to report their cryptocurrency losses. However, taxpayers who have neglected to pay their cryptocurrency-related U.S. taxes and who file their applicable U.S. tax returns should do so by April 15, 2019 to avoid interest, penalties, and even jail time for tax evasion or, worse, for tax fraud, since “cryptocurrencies are a key part of the Joint Chiefs of Global Tax Enforcement’s work,” Don Fort, chief of the Criminal Investigation Department at the IRS said at a Joint Chiefs of Global Tax Enforcement meeting in Amsterdam, citing the risk that such coins are used in the U.S. to avoid paying taxes. Selva Ozelli , Esq., CPA is an international tax attorney and CPA who frequently writes about tax, legal and accounting issues for Tax Notes, Bloomberg BNA, other publications and the OECD. Related Articles: Coinbase Expands Into Cross-Border Payments Tether Daily Transaction Volume Hits All-Time High New USStocks Token Lets Investors Access US Stock Market With Stablecoin Dai OKEx Founder Reveals OK Group’s Partnership With US Trust Firm, Plan to Launch Stablecoin || Sector ETF Strategies to Manage Risk and Enhance Returns: This article was originally published onETFTrends.com.
With a changing market environment, many investors are looking to sectors to take a targeted approach to managing risks and enhancing returns.
On the upcoming webcast,Sector ETF Strategies to Manage Risk and Enhance Returns, Steve Deroian, Head of ETF Strategy at John Hancock Investments, and Peter Dillard, Chief Data Officer and Head of Investment Analytics and Data for Dimensional Fund Advisors, will outline how financial advisors can incorporate sector-specific investments to best position portfolios for today’s market.
For example, investors can look to sector-specific, smart beta ETFs to take a more targeted approach with their portfolios, including the John Hancock Multifactor Consumer Discretionary ETF (JHMC) , John Hancock Multifactor Financials ETF (JHMF) , John Hancock Multifactor Healthcare ETF (JHMH) , John Hancock Multifactor Technology ETF (JHMT) , John Hancock Multifactor Consumer Staples ETF (JHMS) , John Hancock Multifactor Energy ETF (JHME) , John Hancock Multifactor Industrials ETF (JHMI) , John Hancock Multifactor Materials ETF (JHMA) and John Hancock Multifactor Utilities ETF (JHMU) .
The underlying indices' methodology are managed by Dimensional Fund advisors, a pioneer in applying insight from academic research to a systematic investment process that pursues higher expected returns through advanced portfolio design and implementation.
The smart-beta ETFs follow a rules-based selection process that is seen as a multi-factor approach, combining a number of factors in a single portfolio. Securities are adjusted by relative price and profitability. The underlying indices may overweight stocks with lower relative prices and underweight names with higher relative prices. The indices can also adjust for profitability by overweighting stocks with higher profitability and underweighting those with lower profitability.
The underlying indices also implement market-capitalization adjustments where they increase the weights of smaller companies within the eligible universe and decrease the weights of larger names. The weighting methodology help the ETFs follow a more equal-weight tilt with greater exposure to smaller companies than traditional market-cap weighted index funds in an attempt to capture the size premium and limit risks associated with high-flying, large-cap stocks that may be overbought in an ongoing bull market rally.
Financial advisors who are interested in learning more about sector strategies canregister for the Tuesday, April 2 webcast here.
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READ MORE AT ETFTRENDS.COM > || Sector ETF Strategies to Manage Risk and Enhance Returns: This article was originally published on ETFTrends.com. With a changing market environment, many investors are looking to sectors to take a targeted approach to managing risks and enhancing returns. On the upcoming webcast, Sector ETF Strategies to Manage Risk and Enhance Returns , Steve Deroian, Head of ETF Strategy at John Hancock Investments, and Peter Dillard, Chief Data Officer and Head of Investment Analytics and Data for Dimensional Fund Advisors, will outline how financial advisors can incorporate sector-specific investments to best position portfolios for today’s market. For example, investors can look to sector-specific, smart beta ETFs to take a more targeted approach with their portfolios, including the John Hancock Multifactor Consumer Discretionary ETF ( JHMC ) , John Hancock Multifactor Financials ETF ( JHMF ) , John Hancock Multifactor Healthcare ETF ( JHMH ) , John Hancock Multifactor Technology ETF ( JHMT ) , John Hancock Multifactor Consumer Staples ETF ( JHMS ) , John Hancock Multifactor Energy ETF ( JHME ) , John Hancock Multifactor Industrials ETF ( JHMI ) , John Hancock Multifactor Materials ETF ( JHMA ) and John Hancock Multifactor Utilities ETF ( JHMU ) . The underlying indices' methodology are managed by Dimensional Fund advisors, a pioneer in applying insight from academic research to a systematic investment process that pursues higher expected returns through advanced portfolio design and implementation. The smart-beta ETFs follow a rules-based selection process that is seen as a multi-factor approach, combining a number of factors in a single portfolio. Securities are adjusted by relative price and profitability. The underlying indices may overweight stocks with lower relative prices and underweight names with higher relative prices. The indices can also adjust for profitability by overweighting stocks with higher profitability and underweighting those with lower profitability. The underlying indices also implement market-capitalization adjustments where they increase the weights of smaller companies within the eligible universe and decrease the weights of larger names. The weighting methodology help the ETFs follow a more equal-weight tilt with greater exposure to smaller companies than traditional market-cap weighted index funds in an attempt to capture the size premium and limit risks associated with high-flying, large-cap stocks that may be overbought in an ongoing bull market rally. Story continues Financial advisors who are interested in learning more about sector strategies can register for the Tuesday, April 2 webcast here . POPULAR ARTICLES AND RESOURCES FROM ETFTRENDS.COM SPY ETF Quote VOO ETF Quote QQQ ETF Quote VTI ETF Quote JNUG ETF Quote Top 34 Gold ETFs Top 34 Oil ETFs Top 57 Financials ETFs Using Merger Arbitrage as a Hedge Against Market Volatility A Better Way to Determine Risk Exposure for Growth ETF Investors Report Findings Highlight Fake Bitcoin Trading on Unregulated Exchanges How to Manage A Mature Bull Market With Macro-Themed ETF Strategies In the Know: Building a Low Cost, Defensive Portfolio READ MORE AT ETFTRENDS.COM > || Pakistan Introduces Crypto Regulation: Pakistan The Pakistani government will now regulate local cryptocurrency firms under new legislation. Local news outlet The Express Tribune reported that the government of Pakistan will introduce Electronic Money Institutions (EMI) regulations based on the recommendations of the Financial Action Task Force (FATF). The FATF is an intergovernmental organization based in France that creates policies for combating money laundering and other threats to the integrity of the global financial system. It has reportedly been working on international regulations for cryptocurrencies. The Express Tribune report cited anonymous sources from within the country’s finance ministry, stating that the measures were instituted in line with a government objective to effectively monitor the use of digital currencies within the country and curb illicit activity. “These regulations will help [in] combating money laundering and terrorism financing while [they] will also help regulation of digital currency throughout the country,” the sources said, per the report. The FATF has warned international regulators about the potential for cryptocurrencies like bitcoin to be used for illicit activities. Pakistan’s new framework has yet to be released publicly, and specific requirements will need to be met before the country’s central bank, the State Bank of Pakistan (SBP), can ratify them. According to the SBP’s draft regulations for EMIs, released in October 2018, crypto companies will be mandated to meet specific capital requirements, carry out due diligence regarding their customers (including storing their personal and residential information) and take predetermined steps to ensure the safety of their customers’ funds. Operating licenses will be suspended or revoked if and when local crypto firms refuse to abide by the rules. The Pakistani government has tried to adopt a tough stance of crypto assets in the past. In April of last year, the SBP issued a warning via Twitter that it oversees all domestic and international payment and transfer services taking place in the country. It linked to a report titled “ Caution Regarding Risks of Virtual Currencies .” The new regulations will be unveiled formally in a ceremony at the State Bank of Pakistan’s Islamabad office. Notable expected attendees at the ceremony include SBP Governor Tariq Bajwa and Federal Minister of Finance Asad Umar. This article originally appeared on Bitcoin Magazine . || Pakistan Introduces Crypto Regulation: The Pakistani government will now regulate local cryptocurrency firms under new legislation. Local news outletThe Express Tribunereported that the government of Pakistan will introduce Electronic Money Institutions (EMI) regulations based on the recommendations of the Financial Action Task Force (FATF).
The FATF is an intergovernmental organization based in France that creates policies for combating money laundering and other threats to the integrity of the global financial system. It hasreportedlybeen working on international regulations for cryptocurrencies.
TheExpress Tribunereport cited anonymous sources from within the country’s finance ministry, stating that the measures were instituted in line with a government objective to effectively monitor the use of digital currencies within the country and curb illicit activity.
“These regulations will help [in] combating money laundering and terrorism financing while [they] will also help regulation of digital currency throughout the country,” the sources said, per the report.
The FATF haswarnedinternational regulators about the potential for cryptocurrencies like bitcoin to be used for illicit activities.
Pakistan’s new framework has yet to be released publicly, and specific requirements will need to be met before the country’s central bank, the State Bank of Pakistan (SBP), can ratify them.
According to the SBP’sdraft regulationsfor EMIs, released in October 2018, crypto companies will be mandated to meet specific capital requirements, carry out due diligence regarding their customers (including storing their personal and residential information) and take predetermined steps to ensure the safety of their customers’ funds. Operating licenses will be suspended or revoked if and when local crypto firms refuse to abide by the rules.
The Pakistani government has tried to adopt a tough stance of crypto assets in the past. In April of last year, the SBPissued a warningvia Twitter that it oversees all domestic and international payment and transfer services taking place in the country. It linked to a report titled “Caution Regarding Risks of Virtual Currencies.”
The new regulations will be unveiled formally in a ceremony at the State Bank of Pakistan’s Islamabad office. Notable expected attendees at the ceremony include SBP Governor Tariq Bajwa and Federal Minister of Finance Asad Umar.
This article originally appeared onBitcoin Magazine. || Everyone’s Favorite Crypto Joke Rallied 20% on April Fools’: Is Dogecoin (DOGE) playing an April Fools’ prank on the cryptocurrency community? Its April 1 price chart suggests that it is. The “joke currency” today surged to $0.002499, up more than 20 percent for the day.
Earlier in March, DOGE was trending sideways, going nowhere below $0.001967 and nowhere above $0.002151. The April Fools’ jump was too quick for comfort – technically, it looked like a big breakout – which added almost $49 million to Dogecoin’s market in just seven hours.
DOGECOIN GOES TO MOON | SOURCE: COINMARKETCAP.COM
The DOGE volume surged twofold as its price started punching through the roof. Based on a 24-hour adjusted timeframe, cryptocurrency exchanges hosted $47.61 million worth of DOGE-related trading activities on their platforms. The meme coin primarily traded against Tether, Bitcoin, the yuan, and – surprisingly – the Turkish lira.
The lira was branded bearish by theinternational mediatoday, soon after the Turkish President Recep Tayyip Erdogan’s Justice and Development Party lost regional elections.
No Wall Street bigwig speculated on DOGE, and no cryptocurrency exchange executive triggered the rally by setting a$1 million price targetfor the coin.
Aside from a classic April Fools’ pump, the closest thing to a fundamental indicator for theDogecoin priceis a low-profile rebranding by the Blockchain Education Network. The student-empowering group joked today that it was going to rename itself to Dogecoin Education Network, adding that it would only teach about Dogecoin and work with Dogecoin-based projects.
Read the full story on CCN.com. || Everyone’s Favorite Crypto Joke Rallied 20% on April Fools’: Fittingly, the Dogecoin price initiated a parabolic rally on April Fools' day. | Source: Shutterstock Is Dogecoin (DOGE) playing an April Fools’ prank on the cryptocurrency community? Its April 1 price chart suggests that it is. The “joke currency” today surged to $0.002499, up more than 20 percent for the day. Dogecoin Price Sees Classic April Fools’ Pump Earlier in March, DOGE was trending sideways, going nowhere below $0.001967 and nowhere above $0.002151. The April Fools’ jump was too quick for comfort – technically, it looked like a big breakout – which added almost $49 million to Dogecoin’s market in just seven hours. dogecoin price, cryptocurrency DOGECOIN GOES TO MOON | SOURCE: COINMARKETCAP.COM The DOGE volume surged twofold as its price started punching through the roof. Based on a 24-hour adjusted timeframe, cryptocurrency exchanges hosted $47.61 million worth of DOGE-related trading activities on their platforms. The meme coin primarily traded against Tether, Bitcoin, the yuan, and – surprisingly – the Turkish lira. The lira was branded bearish by the international media today, soon after the Turkish President Recep Tayyip Erdogan’s Justice and Development Party lost regional elections. Such Fundamental, Much Wow No Wall Street bigwig speculated on DOGE, and no cryptocurrency exchange executive triggered the rally by setting a $1 million price target for the coin. Aside from a classic April Fools’ pump, the closest thing to a fundamental indicator for the Dogecoin price is a low-profile rebranding by the Blockchain Education Network. The student-empowering group joked today that it was going to rename itself to Dogecoin Education Network, adding that it would only teach about Dogecoin and work with Dogecoin-based projects. Read the full story on CCN.com . View comments || Why Investors Shouldn’t Forget About Emerging Market ETFs: This article was originally published on ETFTrends.com. Investors who are thinking about building a diversified investment portfolio should not forget to look into emerging market ETFs. "As far as emerging markets go, we just feel it's part of your portfolio," said Steve Deroian, US Head of ETF Product, John Hancock Investments, said at Inside ETFs. "You have to be invested there to have success long-term. It's a bumpy ride than you know U.S. historically, but if you don't take advantage of that opportunity, you're really missing the boat." Investors who are looking for an emerging market strategy may look to something like the John Hancock Multifactor Emerging Markets ETF ( JHEM ) . JHEM tries to reflect the performance of the John Hancock Dimensional Emerging Markets Index, which tracks emerging market stocks and weights the securities on a rules-based process that may be referred to as multi-factor investing or smart beta. The fund's indexing methodology is backed by the investment expertise of Dimensional Fund Advisors. "We are very excited and happy to be their partners in this endeavor. Most importantly, though, is that they've really taken the time to understand where the premiums exist in the market and they have the academic background to really prove that out historically," Deroian added. The underlying index weights screens components based on smaller market capitalizations; lower relative price as defined by price-to-book; and higher profitability as defined by operating income over book. Companies that exhibit these characteristics will generally receive an increased weight relative to their unadjusted weight. Earn 1 CE Credit! Webcast: Sector ETF Strategies to Manage Risk and Enhance Returns The portfolio includes momentum screens where low momentum securities are flagged for no additional buys. Small weight changes are implemented to avoid making changes that do not meaningfully improve the expected return-and-risk profile of the overall index. Lastly, the index includes an enhanced redistribution, which allows proceeds to be allocated to increase factor exposure and potentially reduce turnover when sizable securities are removed. Story continues Through its indexing methodology, the ETF tries to incorporate measured flexibility during reconstitution to maintain focus while balancing the trade-offs among competing premiums. The approach is designed to maintain focus on the asset class and factors, control for unnecessary turnover and minimize unnecessary trading costs. For more ETF-related commentary from Tom Lydon and other industry experts, visit our video category . POPULAR ARTICLES AND RESOURCES FROM ETFTRENDS.COM SPY ETF Quote VOO ETF Quote QQQ ETF Quote VTI ETF Quote JNUG ETF Quote Top 34 Gold ETFs Top 34 Oil ETFs Top 57 Financials ETFs Using Merger Arbitrage as a Hedge Against Market Volatility A Better Way to Determine Risk Exposure for Growth ETF Investors Report Findings Highlight Fake Bitcoin Trading on Unregulated Exchanges How to Manage A Mature Bull Market With Macro-Themed ETF Strategies In the Know: Building a Low Cost, Defensive Portfolio READ MORE AT ETFTRENDS.COM > || Why Investors Shouldn’t Forget About Emerging Market ETFs: This article was originally published onETFTrends.com.
Investors who are thinking about building a diversified investment portfolio should not forget to look into emerging market ETFs.
"As far as emerging markets go, we just feel it's part of your portfolio," said Steve Deroian, US Head of ETF Product, John Hancock Investments, said at Inside ETFs. "You have to be invested there to have success long-term. It's a bumpy ride than you know U.S. historically, but if you don't take advantage of that opportunity, you're really missing the boat."
Investors who are looking for an emerging market strategy may look to something like theJohn Hancock Multifactor Emerging Markets ETF (JHEM) . JHEM tries to reflect the performance of the John Hancock Dimensional Emerging Markets Index, which tracks emerging market stocks and weights the securities on a rules-based process that may be referred to as multi-factor investing or smart beta.
The fund's indexing methodology is backed by the investment expertise of Dimensional Fund Advisors.
"We are very excited and happy to be their partners in this endeavor. Most importantly, though, is that they've really taken the time to understand where the premiums exist in the market and they have the academic background to really prove that out historically," Deroian added.
The underlying index weights screens components based on smaller market capitalizations; lower relative price as defined by price-to-book; and higher profitability as defined by operating income over book. Companies that exhibit these characteristics will generally receive an increased weight relative to their unadjusted weight.
Earn 1 CE Credit!Webcast: Sector ETF Strategies to Manage Risk and Enhance Returns
The portfolio includes momentum screens where low momentum securities are flagged for no additional buys. Small weight changes are implemented to avoid making changes that do not meaningfully improve the expected return-and-risk profile of the overall index. Lastly, the index includes an enhanced redistribution, which allows proceeds to be allocated to increase factor exposure and potentially reduce turnover when sizable securities are removed.
Through its indexing methodology, the ETF tries to incorporate measured flexibility during reconstitution to maintain focus while balancing the trade-offs among competing premiums. The approach is designed to maintain focus on the asset class and factors, control for unnecessary turnover and minimize unnecessary trading costs.
For more ETF-related commentary from Tom Lydon and other industry experts, visit ourvideo category.
POPULAR ARTICLES AND RESOURCES FROM ETFTRENDS.COM
• SPY ETF Quote
• VOO ETF Quote
• QQQ ETF Quote
• VTI ETF Quote
• JNUG ETF Quote
• Top 34 Gold ETFs
• Top 34 Oil ETFs
• Top 57 Financials ETFs
• Using Merger Arbitrage as a Hedge Against Market Volatility
• A Better Way to Determine Risk Exposure for Growth ETF Investors
• Report Findings Highlight Fake Bitcoin Trading on Unregulated Exchanges
• How to Manage A Mature Bull Market With Macro-Themed ETF Strategies
• In the Know: Building a Low Cost, Defensive Portfolio
READ MORE AT ETFTRENDS.COM > || Bitcoin, Ethereum, Ripple, EOS, Litecoin, Bitcoin Cash, Binance Coin, Stellar, Cardano, TRON: Price Analysis April 1: The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, you should conduct your own research when making a decision.
Market data is provided by theHitBTCexchange.
Bitcoin has closed in the green for the second consecutive month. This is the first such instance since December 2017, which indicates buying at lower levels. However, right now the action is in altcoins. Traders are piling on select altcoins and the positive sentiment is rubbing on to the leading digital currency. In the current recovery, Bitcoin’sdominancehas been steadily decreasing, which is now at50.1percent.
Trading interest and volume in Bitcoin might pick up after the launch of Bakkt. Though there is no word on the launch date yet, Bakkt continues to build a strong team. It has announced Tom Noonan, former cybersecurity expert at IBM, Cisco and Endgame, as thechairmanof its board of directors.
During the bull phase, ICOs offer astronomical returns. But during a bear market, most of them take a huge beating. As a result, interest in ICOs diminishes. In Q1 of this year, the ICO market could only raise$118 million, a far cry from the record $6.9 billion raised during Q1 of 2018. But as sentiment improves, this market could again come alive and projects with strong use cases should be able to raise money.
Bitcoin (BTC) is inching towards the overhead resistance of $4,255. The bulls have failed to break out of this resistance twice earlier, hence, we expect the bears to defend this level with full force.
However, if the bulls scale above this level, it will complete a double bottom pattern and will also trigger a number of stops on the short positions. This will result in a quick move to $4,914.11, followed by a move to $5,273.91. The upsloping moving averages and RSI close to the overbought zone shows that the bulls are in command.
Our view will prove to be wrong if theBTC/USDpair reverses direction from the current levels and drops below the moving averages. If the pair sustains below the 50-day SMA, a few more days of range-bound action can be expected. Traders can trail the stops on thelongpositions to $3,700.
Though Ethereum (ETH) closed above $144.78 on March 29, the bulls could not sustain the higher levels. However, the bullish sign is that the digital currency is trying to rebound from the 20-day EMA. If it can break out of $144.78 this time, a quick move to $167.32 is possible.
TheETH/USDpair will complete an ascending triangle pattern if it breaks out and closes (UTC time frame) above $167.32. The pattern target of this bullish set up is $251.64. Both the moving averages are sloping up gradually and the RSI is also in the positive territory. This suggests that the bulls have the upper hand. Therefore, traders can retain the stop loss on the remaininglongpositions at $125.
The traders are not showing any interest either in buying or selling Ripple (XRP). Therefor, the price has been idling around the current level for the past few days.
A breakout of the overhead resistance at $0.33108 and the resistance line of the descending channel will be the first indication that the bulls are back in action. Following a breakout of the descending channel, theXRP/USDpair is likely to start a new uptrend that can carry it to $0.60. The ascend might face minor hurdles between $0.40 and $0.45 and above it at $0.50 to $0.55. However, we expect all these hurdles to be crossed. We might suggest long positions once again if the price sustains above $0.33108.
Conversely, if the pair turns down and plummets below $0.27795, it will indicate weakness. The next support on the downside is the yearly low of $0.24508. The downtrend will resume if this support also cracks.
EOSis again facing stiff resistance at $4.4930, but it has not given up much ground like the previous instance on Feb. 24, when it plunged sharply after reaching the same level.
We expect the bulls to make another attempt to break out of the overhead resistance within the next 2–3 days. The next target to watch on the upside is $5.8370. The uptrending moving averages and the RSI in the positive zone suggest that the path of least resistance is to the upside.
Our bullish view will be negated if theEOS/USDpair turns down from the current levels and slips below both the moving averages. Therefore, traders can keep the stops on the remaininglongpositions at $3.70. We shall recommend booking partial profits again and trailing the stops higher within the next few days.
Litecoin (LTC) is facing stiff resistance at $61.9044. Repeated attempts by the bulls to scale this level have failed. Traders can book profits on 40 percent of the remaininglongpositions above $60 and keep the stop loss on the rest at $55. We have suggested booking some more profits at current levels due to the failure of the bulls to rise above the resistance and the negative divergence on the RSI is making us uncomfortable.
A fall below the 20-day EMA will be the first sign that theLTC/USDpair is losing strength. We anticipate a deeper fall if the bulls fail to defend $56.910. Below this support, the level to watch on the downside is the 50-day SMA. Contrary to our expectation, if the bulls push the price above $62, a rally to $69.2790 will be in the cards.
Bitcoin Cash (BCH) has been consolidating in a tight range for the past four days. A breakout of $177.30 will complete a rounding bottom formation that has a pattern target of $249.60. Both the moving averages are trending up gradually and the RSI is trading close to the overbought zone. This suggests that the bulls are at an advantage.
However, if theBCH/USDpair turns down from the current levels and plummets below the moving averages, it will lose momentum. The digital currency has a history of vertical rallies and waterfall declines. Hence, traders can protect theirlongpositions with the stop loss at $140.
Binance Coin (BNB) has extended its fabulous run as it attempts to break out of the stiff overhead resistance at $18. If the bulls can sustain this level, there is no visible resistance until the price reaches near $25. This will bring the digital currency close to the lifetime highs and will be a big sentiment booster.
We like how every support is being held and the cryptocurrency has been making a higher floor for itself during the rise. Both the moving averages are trending up and the RSI is close to the overbought one, which suggests that the bulls are firmly in the driver’s seat.
Traders can keep the stop loss on theremaininglongpositions at $15. We shall trail this higher if we find signs of profit booking at the lifetime highs.
Our bullish assumption will be invalidated if theBNB/USDpair fails to sustain above $18 and reverses direction. A fall below the 50-day SMA will indicate that the current leg of the up move is over.
Stellar (XLM) is struggling to break away from the 20-day EMA. The only positive is that the bulls have sustained above the 20-day EMA for the past five days. But if the price does not start an up move soon, it might face selling pressure again.
A breakdown of the 20-day EMA can sink theXLM/USDpair towards the uptrend line. If this support also gives way, the trend will turn in favor of the bears.
However, with both the moving averages gradually sloping up and the RSI in the positive territory, the path of least resistance is to the upside. We therefore suggest that traders hold thelongpositions with stops at $0.08.
Cardano (ADA) came close to $0.075 level both on March 29 and 30. We recommended that traders book partial profits closer to this level in ourpreviousanalysis.
The trend remains bullish as both the moving averages are sloping up and the RSI is in the overbought zone. Any dip is likely to be supported at the 20-day EMA. The next target on the upside is $0.082 and if that is crossed, the up move can extend to $0.094. Hence, we suggest traders trail the remaininglongpositions with stops at the breakeven. We shall soon suggest moving the stops to just below the 20-day EMA.
TheADA/USDpair will lose momentum if the price fails to rebound off the 20-day EMA. The trend will turn negative on a breakdown and close below the 50-day SMA.
Tron (TRX) is currently attempting to break out of the moving averages and the downtrend line. If the bulls sustain this breakout, the price can rally to the next overhead resistance of $0.02815521. This is a critical resistance as the price has repeatedly returned from it. Notwithstanding, if the bulls scale above it, a new uptrend is likely to start that can carry the digital currency to $0.040 and above it to $0.0480.
Due to the strong upside potential, we might again suggest long positions on a breakout and close (UTC time frame) above $0.02815521.
Contrary to our assumption, if theTRX/USDpair fails to break out and sustain above $0.02815521, it might remain range bound for a few more days. It will turn negative if it plummets below $0.01830.
Market data is provided by theHitBTCexchange. Charts for analysis are provided byTradingView.
• Bitcoin, Ethereum, Ripple, Litecoin, EOS, Bitcoin Cash, Binance Coin, Stellar, Cardano, Tron: Price Analysis, March 25
• Bitcoin, Ethereum, Ripple, EOS, Litecoin, Bitcoin Cash, Binance Coin, Stellar, Cardano, Tron: Price Analysis, March 29
• Bitcoin, Ethereum, Ripple, Litecoin, EOS, Bitcoin Cash, Binance Coin, Stellar, Cardano, Tron: Price Analysis, March 27
• Bitcoin, Ethereum, Ripple, Litecoin, EOS, Bitcoin Cash, Binance Coin, Stellar, Tron, Cardano: Price Analysis, March 22 || Bitcoin, Ethereum, Ripple, EOS, Litecoin, Bitcoin Cash, Binance Coin, Stellar, Cardano, TRON: Price Analysis April 1: The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, you should conduct your own research when making a decision. Market data is provided by the HitBTC exchange. Bitcoin has closed in the green for the second consecutive month. This is the first such instance since December 2017, which indicates buying at lower levels. However, right now the action is in altcoins. Traders are piling on select altcoins and the positive sentiment is rubbing on to the leading digital currency. In the current recovery, Bitcoins dominance has been steadily decreasing, which is now at 50.1 percent. Trading interest and volume in Bitcoin might pick up after the launch of Bakkt. Though there is no word on the launch date yet, Bakkt continues to build a strong team. It has announced Tom Noonan, former cybersecurity expert at IBM, Cisco and Endgame, as the chairman of its board of directors. During the bull phase, ICOs offer astronomical returns. But during a bear market, most of them take a huge beating. As a result, interest in ICOs diminishes. In Q1 of this year, the ICO market could only raise $118 million , a far cry from the record $6.9 billion raised during Q1 of 2018. But as sentiment improves, this market could again come alive and projects with strong use cases should be able to raise money. BTC/USD Bitcoin ( BTC ) is inching towards the overhead resistance of $4,255. The bulls have failed to break out of this resistance twice earlier, hence, we expect the bears to defend this level with full force. However, if the bulls scale above this level, it will complete a double bottom pattern and will also trigger a number of stops on the short positions. This will result in a quick move to $4,914.11, followed by a move to $5,273.91. The upsloping moving averages and RSI close to the overbought zone shows that the bulls are in command. Story continues BTC/USD Our view will prove to be wrong if the BTC/USD pair reverses direction from the current levels and drops below the moving averages. If the pair sustains below the 50-day SMA, a few more days of range-bound action can be expected. Traders can trail the stops on the long positions to $3,700. ETH/USD Though Ethereum ( ETH ) closed above $144.78 on March 29, the bulls could not sustain the higher levels. However, the bullish sign is that the digital currency is trying to rebound from the 20-day EMA. If it can break out of $144.78 this time, a quick move to $167.32 is possible. ETH/USD The ETH/USD pair will complete an ascending triangle pattern if it breaks out and closes (UTC time frame) above $167.32. The pattern target of this bullish set up is $251.64. Both the moving averages are sloping up gradually and the RSI is also in the positive territory. This suggests that the bulls have the upper hand. Therefore, traders can retain the stop loss on the remaining long positions at $125. XRP/USD The traders are not showing any interest either in buying or selling Ripple ( XRP ). Therefor, the price has been idling around the current level for the past few days. XRP/USD A breakout of the overhead resistance at $0.33108 and the resistance line of the descending channel will be the first indication that the bulls are back in action. Following a breakout of the descending channel, the XRP/USD pair is likely to start a new uptrend that can carry it to $0.60. The ascend might face minor hurdles between $0.40 and $0.45 and above it at $0.50 to $0.55. However, we expect all these hurdles to be crossed. We might suggest long positions once again if the price sustains above $0.33108. Conversely, if the pair turns down and plummets below $0.27795, it will indicate weakness. The next support on the downside is the yearly low of $0.24508. The downtrend will resume if this support also cracks. EOS/USD EOS is again facing stiff resistance at $4.4930, but it has not given up much ground like the previous instance on Feb. 24, when it plunged sharply after reaching the same level. We expect the bulls to make another attempt to break out of the overhead resistance within the next 23 days. The next target to watch on the upside is $5.8370. The uptrending moving averages and the RSI in the positive zone suggest that the path of least resistance is to the upside. EOS/USD Our bullish view will be negated if the EOS/USD pair turns down from the current levels and slips below both the moving averages. Therefore, traders can keep the stops on the remaining long positions at $3.70. We shall recommend booking partial profits again and trailing the stops higher within the next few days. LTC/USD Litecoin ( LTC ) is facing stiff resistance at $61.9044. Repeated attempts by the bulls to scale this level have failed. Traders can book profits on 40 percent of the remaining long positions above $60 and keep the stop loss on the rest at $55. We have suggested booking some more profits at current levels due to the failure of the bulls to rise above the resistance and the negative divergence on the RSI is making us uncomfortable. LTC/USD A fall below the 20-day EMA will be the first sign that the LTC/USD pair is losing strength. We anticipate a deeper fall if the bulls fail to defend $56.910. Below this support, the level to watch on the downside is the 50-day SMA. Contrary to our expectation, if the bulls push the price above $62, a rally to $69.2790 will be in the cards. BCH/USD Bitcoin Cash ( BCH ) has been consolidating in a tight range for the past four days. A breakout of $177.30 will complete a rounding bottom formation that has a pattern target of $249.60. Both the moving averages are trending up gradually and the RSI is trading close to the overbought zone. This suggests that the bulls are at an advantage. BCH/USD However, if the BCH/USD pair turns down from the current levels and plummets below the moving averages, it will lose momentum. The digital currency has a history of vertical rallies and waterfall declines. Hence, traders can protect their long positions with the stop loss at $140. BNB/USD Binance Coin ( BNB ) has extended its fabulous run as it attempts to break out of the stiff overhead resistance at $18. If the bulls can sustain this level, there is no visible resistance until the price reaches near $25. This will bring the digital currency close to the lifetime highs and will be a big sentiment booster. We like how every support is being held and the cryptocurrency has been making a higher floor for itself during the rise. Both the moving averages are trending up and the RSI is close to the overbought one, which suggests that the bulls are firmly in the drivers seat. BNB/USD Traders can keep the stop loss on the remaining long positions at $15. We shall trail this higher if we find signs of profit booking at the lifetime highs. Our bullish assumption will be invalidated if the BNB/USD pair fails to sustain above $18 and reverses direction. A fall below the 50-day SMA will indicate that the current leg of the up move is over. XLM/USD Stellar ( XLM ) is struggling to break away from the 20-day EMA. The only positive is that the bulls have sustained above the 20-day EMA for the past five days. But if the price does not start an up move soon, it might face selling pressure again. XLM/USD A breakdown of the 20-day EMA can sink the XLM/USD pair towards the uptrend line. If this support also gives way, the trend will turn in favor of the bears. However, with both the moving averages gradually sloping up and the RSI in the positive territory, the path of least resistance is to the upside. We therefore suggest that traders hold the long positions with stops at $0.08. ADA/USD Cardano ( ADA ) came close to $0.075 level both on March 29 and 30. We recommended that traders book partial profits closer to this level in our previous analysis. ADA/USD The trend remains bullish as both the moving averages are sloping up and the RSI is in the overbought zone. Any dip is likely to be supported at the 20-day EMA. The next target on the upside is $0.082 and if that is crossed, the up move can extend to $0.094. Hence, we suggest traders trail the remaining long positions with stops at the breakeven. We shall soon suggest moving the stops to just below the 20-day EMA. The ADA/USD pair will lose momentum if the price fails to rebound off the 20-day EMA. The trend will turn negative on a breakdown and close below the 50-day SMA. TRX/USD Tron ( TRX ) is currently attempting to break out of the moving averages and the downtrend line. If the bulls sustain this breakout, the price can rally to the next overhead resistance of $0.02815521. This is a critical resistance as the price has repeatedly returned from it. Notwithstanding, if the bulls scale above it, a new uptrend is likely to start that can carry the digital currency to $0.040 and above it to $0.0480. TRX/USD Due to the strong upside potential, we might again suggest long positions on a breakout and close (UTC time frame) above $0.02815521. Contrary to our assumption, if the TRX/USD pair fails to break out and sustain above $0.02815521, it might remain range bound for a few more days. It will turn negative if it plummets below $0.01830. Market data is provided by the HitBTC exchange. Charts for analysis are provided by TradingView . Related Articles: Bitcoin, Ethereum, Ripple, Litecoin, EOS, Bitcoin Cash, Binance Coin, Stellar, Cardano, Tron: Price Analysis, March 25 Bitcoin, Ethereum, Ripple, EOS, Litecoin, Bitcoin Cash, Binance Coin, Stellar, Cardano, Tron: Price Analysis, March 29 Bitcoin, Ethereum, Ripple, Litecoin, EOS, Bitcoin Cash, Binance Coin, Stellar, Cardano, Tron: Price Analysis, March 27 Bitcoin, Ethereum, Ripple, Litecoin, EOS, Bitcoin Cash, Binance Coin, Stellar, Tron, Cardano: Price Analysis, March 22 || Bitcoin, Ethereum, Ripple, EOS, Litecoin, Bitcoin Cash, Binance Coin, Stellar, Cardano, TRON: Price Analysis April 1: The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, you should conduct your own research when making a decision.
Market data is provided by theHitBTCexchange.
Bitcoin has closed in the green for the second consecutive month. This is the first such instance since December 2017, which indicates buying at lower levels. However, right now the action is in altcoins. Traders are piling on select altcoins and the positive sentiment is rubbing on to the leading digital currency. In the current recovery, Bitcoin’sdominancehas been steadily decreasing, which is now at50.1percent.
Trading interest and volume in Bitcoin might pick up after the launch of Bakkt. Though there is no word on the launch date yet, Bakkt continues to build a strong team. It has announced Tom Noonan, former cybersecurity expert at IBM, Cisco and Endgame, as thechairmanof its board of directors.
During the bull phase, ICOs offer astronomical returns. But during a bear market, most of them take a huge beating. As a result, interest in ICOs diminishes. In Q1 of this year, the ICO market could only raise$118 million, a far cry from the record $6.9 billion raised during Q1 of 2018. But as sentiment improves, this market could again come alive and projects with strong use cases should be able to raise money.
Bitcoin (BTC) is inching towards the overhead resistance of $4,255. The bulls have failed to break out of this resistance twice earlier, hence, we expect the bears to defend this level with full force.
However, if the bulls scale above this level, it will complete a double bottom pattern and will also trigger a number of stops on the short positions. This will result in a quick move to $4,914.11, followed by a move to $5,273.91. The upsloping moving averages and RSI close to the overbought zone shows that the bulls are in command.
Our view will prove to be wrong if theBTC/USDpair reverses direction from the current levels and drops below the moving averages. If the pair sustains below the 50-day SMA, a few more days of range-bound action can be expected. Traders can trail the stops on thelongpositions to $3,700.
Though Ethereum (ETH) closed above $144.78 on March 29, the bulls could not sustain the higher levels. However, the bullish sign is that the digital currency is trying to rebound from the 20-day EMA. If it can break out of $144.78 this time, a quick move to $167.32 is possible.
TheETH/USDpair will complete an ascending triangle pattern if it breaks out and closes (UTC time frame) above $167.32. The pattern target of this bullish set up is $251.64. Both the moving averages are sloping up gradually and the RSI is also in the positive territory. This suggests that the bulls have the upper hand. Therefore, traders can retain the stop loss on the remaininglongpositions at $125.
The traders are not showing any interest either in buying or selling Ripple (XRP). Therefor, the price has been idling around the current level for the past few days.
A breakout of the overhead resistance at $0.33108 and the resistance line of the descending channel will be the first indication that the bulls are back in action. Following a breakout of the descending channel, theXRP/USDpair is likely to start a new uptrend that can carry it to $0.60. The ascend might face minor hurdles between $0.40 and $0.45 and above it at $0.50 to $0.55. However, we expect all these hurdles to be crossed. We might suggest long positions once again if the price sustains above $0.33108.
Conversely, if the pair turns down and plummets below $0.27795, it will indicate weakness. The next support on the downside is the yearly low of $0.24508. The downtrend will resume if this support also cracks.
EOSis again facing stiff resistance at $4.4930, but it has not given up much ground like the previous instance on Feb. 24, when it plunged sharply after reaching the same level.
We expect the bulls to make another attempt to break out of the overhead resistance within the next 2–3 days. The next target to watch on the upside is $5.8370. The uptrending moving averages and the RSI in the positive zone suggest that the path of least resistance is to the upside.
Our bullish view will be negated if theEOS/USDpair turns down from the current levels and slips below both the moving averages. Therefore, traders can keep the stops on the remaininglongpositions at $3.70. We shall recommend booking partial profits again and trailing the stops higher within the next few days.
Litecoin (LTC) is facing stiff resistance at $61.9044. Repeated attempts by the bulls to scale this level have failed. Traders can book profits on 40 percent of the remaininglongpositions above $60 and keep the stop loss on the rest at $55. We have suggested booking some more profits at current levels due to the failure of the bulls to rise above the resistance and the negative divergence on the RSI is making us uncomfortable.
A fall below the 20-day EMA will be the first sign that theLTC/USDpair is losing strength. We anticipate a deeper fall if the bulls fail to defend $56.910. Below this support, the level to watch on the downside is the 50-day SMA. Contrary to our expectation, if the bulls push the price above $62, a rally to $69.2790 will be in the cards.
Bitcoin Cash (BCH) has been consolidating in a tight range for the past four days. A breakout of $177.30 will complete a rounding bottom formation that has a pattern target of $249.60. Both the moving averages are trending up gradually and the RSI is trading close to the overbought zone. This suggests that the bulls are at an advantage.
However, if theBCH/USDpair turns down from the current levels and plummets below the moving averages, it will lose momentum. The digital currency has a history of vertical rallies and waterfall declines. Hence, traders can protect theirlongpositions with the stop loss at $140.
Binance Coin (BNB) has extended its fabulous run as it attempts to break out of the stiff overhead resistance at $18. If the bulls can sustain this level, there is no visible resistance until the price reaches near $25. This will bring the digital currency close to the lifetime highs and will be a big sentiment booster.
We like how every support is being held and the cryptocurrency has been making a higher floor for itself during the rise. Both the moving averages are trending up and the RSI is close to the overbought one, which suggests that the bulls are firmly in the driver’s seat.
Traders can keep the stop loss on theremaininglongpositions at $15. We shall trail this higher if we find signs of profit booking at the lifetime highs.
Our bullish assumption will be invalidated if theBNB/USDpair fails to sustain above $18 and reverses direction. A fall below the 50-day SMA will indicate that the current leg of the up move is over.
Stellar (XLM) is struggling to break away from the 20-day EMA. The only positive is that the bulls have sustained above the 20-day EMA for the past five days. But if the price does not start an up move soon, it might face selling pressure again.
A breakdown of the 20-day EMA can sink theXLM/USDpair towards the uptrend line. If this support also gives way, the trend will turn in favor of the bears.
However, with both the moving averages gradually sloping up and the RSI in the positive territory, the path of least resistance is to the upside. We therefore suggest that traders hold thelongpositions with stops at $0.08.
Cardano (ADA) came close to $0.075 level both on March 29 and 30. We recommended that traders book partial profits closer to this level in ourpreviousanalysis.
The trend remains bullish as both the moving averages are sloping up and the RSI is in the overbought zone. Any dip is likely to be supported at the 20-day EMA. The next target on the upside is $0.082 and if that is crossed, the up move can extend to $0.094. Hence, we suggest traders trail the remaininglongpositions with stops at the breakeven. We shall soon suggest moving the stops to just below the 20-day EMA.
TheADA/USDpair will lose momentum if the price fails to rebound off the 20-day EMA. The trend will turn negative on a breakdown and close below the 50-day SMA.
Tron (TRX) is currently attempting to break out of the moving averages and the downtrend line. If the bulls sustain this breakout, the price can rally to the next overhead resistance of $0.02815521. This is a critical resistance as the price has repeatedly returned from it. Notwithstanding, if the bulls scale above it, a new uptrend is likely to start that can carry the digital currency to $0.040 and above it to $0.0480.
Due to the strong upside potential, we might again suggest long positions on a breakout and close (UTC time frame) above $0.02815521.
Contrary to our assumption, if theTRX/USDpair fails to break out and sustain above $0.02815521, it might remain range bound for a few more days. It will turn negative if it plummets below $0.01830.
Market data is provided by theHitBTCexchange. Charts for analysis are provided byTradingView.
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• Bitcoin, Ethereum, Ripple, Litecoin, EOS, Bitcoin Cash, Binance Coin, Stellar, Tron, Cardano: Price Analysis, March 22 || Gold ETFs Fall, but Late-Year Rally Could Be Ahead: This article was originally published on ETFTrends.com. Gold faced downward pressure on Monday, but precious metals consultancy Metals Focus said in its latest Gold Focus 2019 report that a rally towards the end of 2019 could be ahead. The Dow Jones Industrial Average gained over 300 points after strong manufacturing data from the Institute for Supply Management (ISM) re-instilled confidence back to the markets temporarily following fears of a global economic slowdown. This followed a flight from safe havens like gold, which saw its price fall below its March low of $1,280 per ounce. “Conditions are now becoming more supportive for a late-2019 rally,” said Metals Focus in its report. “For the next six months, (we) see gold trade in a relatively tight range around $1,300; on the upside…prices will probably be capped at last year’s peak of $1,365, while ventures to levels as low as $1,250 can also not be ruled out. A more meaningful rally is then forecast to take place later in the year, when we see prices testing the $1,400 mark.” Amid the rise in the major stock market indexes, the SPDR Gold Shares ( GLD ) fell 0.30 percent SPDR Gold MiniShares ( GLDM ) ticked 0.35 percent lower 10 minutes before the close of Monday's trading session. The ISM index rose to 55.3 in March–up from a previous reading of 54.2 with three of five its main components increasing. this beat estimates from a Bloomberg survey that was expecting a rise to 54.5, staying above the 50 level–an indication of expansion. In addition, the Caixin/Markit Manufacturing Purchasing Managers’ Index rose to 50.8 during, which was its highest level in eight months. A poll of economists by Refinitiv were expecting a 49.9 number. “Comments from the panel reflect continued expanding business strength, supported by gains in new orders and employment,” said Timothy Fiore, chairman of the ISM business survey committee. “The manufacturing sector continues to expand, demonstrated by improvements in the PMI three-month rolling average, which is consistent with overall manufacturing growth projections,” Fiore added. Story continues Related: 12 ETFs to Stay Invested, Incorporate Downside Buffers Upside Ahead for Gold In move that was widely anticipated by most market experts, the Fed last week elected to keep rates unchanged, holding its policy rate in a range between 2.25 percent and 2.5 percent. In addition, the central bank alluded to no more rate hikes for the rest of 2019 after initially forecasting two. The capital markets initially expected rates to remain steady after the central bank spoke in more dovish tones following the fourth and final rate hike for 2018 last December. Of course, less hikes and a rate cut would translate to dollar weakness–an open path for strength in gold. “Recent comments from Fed officials, as well as FOMC members’ guidance on policy rates, all suggest that U.S. policy rates will remain unchanged for the foreseeable future. Fed fund rates futures are similarly pricing in no rate increases at least for 2019 … This in itself should be positive for gold, as it should encourage investor interest in safe-haven assets,” Metals Focus noted. Gold ETFs Fall, but Late-Year Rally Could Be Ahead 1 Traders were also quick to unload miners as the VanEck Vectors Gold Miners ( GDX ) fell 2.23 percent. Leveraged bullish plays for gold also fell with the Direxion Daily Jr Gold Miners Bull 3X ETF ( JNUG ) declining 10 percent and the Direxion Daily Gold Miners Bull 3X ETF ( NUGT ) falling 6.62 percent. For more market trends, visit ETF Trends . POPULAR ARTICLES AND RESOURCES FROM ETFTRENDS.COM SPY ETF Quote VOO ETF Quote QQQ ETF Quote VTI ETF Quote JNUG ETF Quote Top 34 Gold ETFs Top 34 Oil ETFs Top 57 Financials ETFs Using Merger Arbitrage as a Hedge Against Market Volatility A Better Way to Determine Risk Exposure for Growth ETF Investors Report Findings Highlight Fake Bitcoin Trading on Unregulated Exchanges How to Manage A Mature Bull Market With Macro-Themed ETF Strategies In the Know: Building a Low Cost, Defensive Portfolio READ MORE AT ETFTRENDS.COM > || Gold ETFs Fall, but Late-Year Rally Could Be Ahead: This article was originally published onETFTrends.com.
Gold faced downward pressure on Monday, but precious metals consultancy Metals Focus said in its latest Gold Focus 2019 report that a rally towards the end of 2019 could be ahead.
The Dow Jones Industrial Average gained over 300 points after strong manufacturing data from the Institute for Supply Management (ISM) re-instilled confidence back to the markets temporarily following fears of a global economic slowdown. This followed a flight from safe havens like gold, which saw its price fall below its March low of $1,280 per ounce.
“Conditions are now becoming more supportive for a late-2019 rally,”saidMetals Focus in its report. “For the next six months, (we) see gold trade in a relatively tight range around $1,300; on the upside…prices will probably be capped at last year’s peak of $1,365, while ventures to levels as low as $1,250 can also not be ruled out. A more meaningful rally is then forecast to take place later in the year, when we see prices testing the $1,400 mark.”
Amid the rise in the major stock market indexes, theSPDR Gold Shares (GLD) fell 0.30 percentSPDR Gold MiniShares (GLDM) ticked 0.35 percent lower 10 minutes before the close of Monday's trading session.
The ISM index rose to 55.3 in March–up from a previous reading of 54.2 with three of five its main components increasing. this beat estimates from a Bloomberg survey that was expecting a rise to 54.5, staying above the 50 level–an indication of expansion.
In addition, the Caixin/Markit Manufacturing Purchasing Managers’ Index rose to 50.8 during, which was its highest level in eight months. A poll of economists by Refinitiv were expecting a 49.9 number.
“Comments from the panel reflect continued expanding business strength, supported by gains in new orders and employment,” said Timothy Fiore, chairman of the ISM business survey committee.
“The manufacturing sector continues to expand, demonstrated by improvements in the PMI three-month rolling average, which is consistent with overall manufacturing growth projections,” Fiore added.
Related:12 ETFs to Stay Invested, Incorporate Downside Buffers
Upside Ahead for Gold
In move that was widely anticipated by most market experts, the Fed last week elected to keep rates unchanged, holding its policy rate in a range between 2.25 percent and 2.5 percent. In addition, the central bank alluded to no more rate hikes for the rest of 2019 after initially forecasting two.
The capital markets initially expected rates to remain steady after the central bank spoke in more dovish tones following the fourth and final rate hike for 2018 last December. Of course, less hikes and a rate cut would translate to dollar weakness–an open path for strength in gold.
“Recent comments from Fed officials, as well as FOMC members’ guidance on policy rates, all suggest that U.S. policy rates will remain unchanged for the foreseeable future. Fed fund rates futures are similarly pricing in no rate increases at least for 2019 … This in itself should be positive for gold, as it should encourage investor interest in safe-haven assets,” Metals Focus noted.
Traders were also quick to unload miners as theVanEck Vectors Gold Miners (GDX) fell 2.23 percent. Leveraged bullish plays for gold also fell with theDirexion Daily Jr Gold Miners Bull 3X ETF (JNUG)declining 10 percent and theDirexion Daily Gold Miners Bull 3X ETF (NUGT)falling 6.62 percent.
For more market trends, visitETF Trends.
POPULAR ARTICLES AND RESOURCES FROM ETFTRENDS.COM
• SPY ETF Quote
• VOO ETF Quote
• QQQ ETF Quote
• VTI ETF Quote
• JNUG ETF Quote
• Top 34 Gold ETFs
• Top 34 Oil ETFs
• Top 57 Financials ETFs
• Using Merger Arbitrage as a Hedge Against Market Volatility
• A Better Way to Determine Risk Exposure for Growth ETF Investors
• Report Findings Highlight Fake Bitcoin Trading on Unregulated Exchanges
• How to Manage A Mature Bull Market With Macro-Themed ETF Strategies
• In the Know: Building a Low Cost, Defensive Portfolio
READ MORE AT ETFTRENDS.COM > || 12 ETFs to Stay Invested, Incorporate Downside Buffers: This article was originally published onETFTrends.com.
ETF investors who are worried about the future can consider a revolutionary alternative strategy that could help keep exposure to the growth potential of U.S. equities and hedge potential downside risks.
On the recent webcast,How to Own the S&P 500 with Built-In Buffers, Bruce Bond, Co-Founder and CEO, Innovator ETFs, pointed out that demand for downside risk mitigation is great, with $3.2 trillion in hedge funds and $1 trillion in equity-linked structured products, but he argued that solutions available to investors today often fail to deliver downside protection and are delivered in sub-optimal investment wrappers.
For instance, with rising rates, bonds may not provide the downside buffer investors are historically accustomed to. Hedge funds are expensive, have spotty track records over the last market cycle and come with high minimums. Shorting the market typically come with high carry costs, limited upside exposure and requires the ability to time the markets well.
Alternatively, Bond highlighted its innovator suite of defined outcome ETFs, which encompass the efficient ETF wrapper, are fee based, provide downside buffers and have upside potential to a cap.
For example, Innovator recently listed its April series, including theInnovator S&P 500 BUFFER ETF (BAPR),Innovator S&P 500 POWER BUFFER ETF (PAPR)andInnovator S&P 500 ULTRA BUFFER ETF (UAPR), which have a 9%, 15% and 30% buffer, respectively.
The April series joins Innovator's other Defined Outcome ETFs, including the October series ofInnovator S&P 500 Buffer ETF (Cboe: BOCT),Innovator S&P 500 Power Buffer ETF (Cboe: POCT)andInnovator S&P 500 Ultra Buffer ETF (Cboe: UOCT).
The July series includesInnovator S&P 500 Buffer ETF (CBOE: BJUL),Innovator S&P 500 Power Buffer ETF (CBOE: PJUL)andInnovator S&P 500 Ultra Buffer ETF (CBOE: UJUL).
Lastly, the January series includes theInnovator S&P 500 Buffer ETF (BJAN),Innovator S&P 500 Power Buffer ETF (PJAN)andInnovator S&P 500 Ultra Buffer ETF (UJAN).
Matt Kaufman, Principal, Milliman Financial Risk Management, explained that the Defined Outcome ETFs provide S&P 500 exposure with a built-in downside buffer. The ETFs start with a synthetic 1 to 1 exposure to the S&P 500. They would then include a put spread to provide targeted buffers of 9%, 15% or 30% to the S&P 500. Lastly, the upside is capped by selling an upside call to finance downside buffers.
While the quarterly Defined Outcome ETF series are set up with an annual target, investors can still dive into a series intra-period. For example, Kaufman stated that an investor could have still achieved a defined outcome in the January series, despite purchasing in March. If an investor were to buy into the January series with PJAN in March with the S&P 500 already returning 12.59% as of mid-March, the investor would be exposed to a remaining cap of 6.74% and a remaining buffer of 20.43% over a 291 day period.
Graham Day, Vice President of Product and Research, Innovator ETFs, explained that Defined Outcome ETFs can be used in an investment portfolio to potentially limit losses, as an equity replacement, for a bond alternative, for an alternative bucket or included in a liquidity sleeve.
The Defined Outcome ETFs can help investors lock in the rally and remain invested while incorporating a buffer for potential downside risks ahead.
For example, looking at something like the UJUL to determine short-term potential outcomes until the end of the second quarter, the UJUL would only return -4.4% if the S&P 500 returned -25% over the remaining period, -4.4% if the S&P 500 returned -15%, +4.4% if the S&P 500 returned +5% and +9.4% if the S&P 500 returned +10%.
Similarly, looking at the range of potential outcomes until the end of the third quarter, BOCT could see an outcome of -2.8% if the S&P 500 returned -10% over the remaining period, +1.4% if the S&P 500 returned -5%, +3.2% if the S&P 500 returned +5% and +8.2% if the S&P 500 returned +10%.
Financial advisors who are interested in strategies to better manage market risks canwatch the webcast here on demand.
POPULAR ARTICLES AND RESOURCES FROM ETFTRENDS.COM
• SPY ETF Quote
• VOO ETF Quote
• QQQ ETF Quote
• VTI ETF Quote
• JNUG ETF Quote
• Top 34 Gold ETFs
• Top 34 Oil ETFs
• Top 57 Financials ETFs
• Using Merger Arbitrage as a Hedge Against Market Volatility
• A Better Way to Determine Risk Exposure for Growth ETF Investors
• Report Findings Highlight Fake Bitcoin Trading on Unregulated Exchanges
• How to Manage A Mature Bull Market With Macro-Themed ETF Strategies
• In the Know: Building a Low Cost, Defensive Portfolio
READ MORE AT ETFTRENDS.COM >
[Social Media Buzz]
#cryptocurrency Price Analysis for #Bitsend #BSD :
Last Hour Change : 3.71 % || 02-04-2019 10:00
Price in #USD : 0.0671215333 || Price in #EUR : 0.0599370458
New Price in #Bitcoin #BTC : 0.00001441 || #Coin Rank 737 || 2019/04/03 05:00
#Binance 格安コイン
1位 #NPXS 0.00000014 BTC(0.07円)
2位 #BTT 0.00000017 BTC(0.09円)
3位 #DENT 0.00000021 BTC(0.11円)
4位 #BCN 0.00000022 BTC(0.12円)
5位 #HOT 0.00000026 BTC(0.14円)
#仮想通貨 #アルトコイン #草コイン || $NPXS Buying opportunity @ 14 sats.
Will retweet when #NPXS reaches 14...
|
4973.02, 4922.80, 5036.68, 5059.82, 5198.90, 5289.77, 5204.96, 5324.55, 5064.49, 5089.54
|
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 7032.85, 7068.48, 6951.80, 6753.12, 6305.80, 6568.23, 6184.71, 6295.73, 6322.69, 6297.57, 6199.71, 6308.52, 6334.73, 6580.63, 6423.76, 6506.07, 6308.53, 6488.76, 6376.71, 6534.88, 6719.96, 6763.19, 6707.26, 6884.64, 7096.28, 7047.16, 6978.23, 7037.58, 7193.25, 7272.72, 7260.06, 7361.66, 6792.83, 6529.17, 6467.07, 6225.98, 6300.86, 6329.70, 6321.20, 6351.80, 6517.31, 6512.71, 6543.20, 6517.18, 6281.20, 6371.30, 6398.54, 6519.67, 6734.95, 6721.98, 6710.63, 6595.41, 6446.47, 6495.00, 6676.75, 6644.13, 6601.96, 6625.56, 6589.62, 6556.10, 6502.59, 6576.69, 6622.48, 6588.31, 6602.95, 6652.23, 6642.64, 6585.53, 6256.24, 6274.58, 6285.99, 6290.93, 6596.54, 6596.11, 6544.43, 6476.71, 6465.41, 6489.19, 6482.35, 6487.16, 6475.74, 6495.84, 6476.29, 6474.75, 6480.38, 6486.39, 6332.63, 6334.27, 6317.61, 6377.78.
|
[Bitcoin Technical Analysis for 2018-11-01]
Volume: 3789400000, RSI (14-day): 43.03, 50-day EMA: 6520.06, 200-day EMA: 7103.63
[Wider Market Context]
Gold Price: 1236.00, Gold RSI: 60.03
Oil Price: 63.69, Oil RSI: 27.14
[Recent News (last 7 days)]
Ex-Bitcoin Skeptic Ron Paul Says Crypto Could Prevent Recession: Retired US Congressman Ron Paul, a one-time bitcoin skeptic, called for a tax exemption on all cryptocurrencies, saying the move could prevent an economic recession.
Ron Paul, the father of current United States Senator Rand Paul, made the suggestion in ablog postentitled “Trump Is Right, the Fed Is Crazy,” where he blasted the Federal Reserve for manipulating interest rates.
“It is likely that the next Fed-created recession will come sooner rather than later,” Paul wrote. “This could be the major catastrophe that leads to the end of fiat currency.”
Paul said the only way to avoid such a crisis is to allow people to use alternative currencies and to exempt “all transactions in precious metals and cryptocurrencies from capital gains taxes and other taxes.”
Paul said central banks constantly increase and decrease the money supply to control the economy by controlling interest rates.
He said theFederal Reserve‘s cyclical manipulation of interest rates actually fuels recessions by creating an artificial economic boom.
“This can create an illusion of prosperity,” he wrote. “Eventually, reality catches up to the Federal Reserve-created fantasies. When that happens, there is a recession or worse, leading the Fed to start the whole boom-and-bust cycle over again.”
Ron Paul is a libertarian who opposes government intervention in the free market. This is a sentiment shared by many in the cryptocurrency community, who prefer the decentralized and unregulated market that crypto operates in.
Paul — a frequent critic ofPresident Donald Trump— agrees with Trump’s recent criticism of the Federal Reserve.
Paul, true to form, also called for abolishing the Fed, saying a limited government and an economy that is not manipulated is better for society. “Not only should we audit the Federal Reserve, we should get rid of it!” he said.
As recently as December 2017, Ron Paul was a bitcoin skeptic and staunch advocate of the gold standard, asCCN has reported. At the time, Paul expressed surprise that an informal Twitter poll revealed that more than half of his Twitter followers would rather invest in bitcoin than in gold.
“Bitcoin is very exciting, and it’s booming, but [bitcoin investors] don’t have a long-term perspective,” Paul said at the time. “What’s it going to be like in 10 years? Nobody knows. But we have a pretty good idea of where gold will be, in a general sense.”
Paul has since changed his outlook on crypto, and now says he believes that bitcoin and a gold-backed currencycan co-existin a free society.
Ron Paul’s son, Senator Rand Paul,accepted bitcoincontributions when he ran for president in 2016, as CCN reported. He lost the election but made history for becoming the first US presidential candidate to accept bitcoin to fund his campaign.
Featured Image from Shutterstock
The postEx-Bitcoin Skeptic Ron Paul Says Crypto Could Prevent Recessionappeared first onCCN. || Ex-Bitcoin Skeptic Ron Paul Says Crypto Could Prevent Recession: Ron Paul Bitcoin Retired US Congressman Ron Paul, a one-time bitcoin skeptic, called for a tax exemption on all cryptocurrencies, saying the move could prevent an economic recession. Ron Paul, the father of current United States Senator Rand Paul, made the suggestion in a blog post entitled “Trump Is Right, the Fed Is Crazy,” where he blasted the Federal Reserve for manipulating interest rates. “It is likely that the next Fed-created recession will come sooner rather than later,” Paul wrote. “This could be the major catastrophe that leads to the end of fiat currency.” Paul said the only way to avoid such a crisis is to allow people to use alternative currencies and to exempt “all transactions in precious metals and cryptocurrencies from capital gains taxes and other taxes.” Fed Manipulation Causes ‘Illusion Of Prosperity’ Paul said central banks constantly increase and decrease the money supply to control the economy by controlling interest rates. He said the Federal Reserve ‘s cyclical manipulation of interest rates actually fuels recessions by creating an artificial economic boom. “This can create an illusion of prosperity,” he wrote. “Eventually, reality catches up to the Federal Reserve-created fantasies. When that happens, there is a recession or worse, leading the Fed to start the whole boom-and-bust cycle over again.” Rand Paul and his dad Ron Paul are both physicians and politicians. | Source: YouTube Ron Paul is a libertarian who opposes government intervention in the free market. This is a sentiment shared by many in the cryptocurrency community, who prefer the decentralized and unregulated market that crypto operates in. Paul — a frequent critic of President Donald Trump — agrees with Trump’s recent criticism of the Federal Reserve. Paul, true to form, also called for abolishing the Fed, saying a limited government and an economy that is not manipulated is better for society. “Not only should we audit the Federal Reserve, we should get rid of it!” he said. Story continues As recently as December 2017, Ron Paul was a bitcoin skeptic and staunch advocate of the gold standard, as CCN has reported . At the time, Paul expressed surprise that an informal Twitter poll revealed that more than half of his Twitter followers would rather invest in bitcoin than in gold. A wealthy person wants to gift you $10,000. You get to choose in which form you'll take the gift. But there's a catch: You must keep the gift in the form that you choose, and you can't touch it for 10 years. In which form would you take the gift? — Ron Paul (@RonPaul) December 5, 2017 “Bitcoin is very exciting, and it’s booming, but [bitcoin investors] don’t have a long-term perspective,” Paul said at the time. “What’s it going to be like in 10 years? Nobody knows. But we have a pretty good idea of where gold will be, in a general sense.” Paul has since changed his outlook on crypto, and now says he believes that bitcoin and a gold-backed currency can co-exist in a free society. Ron Paul’s son, Senator Rand Paul, accepted bitcoin contributions when he ran for president in 2016, as CCN reported. He lost the election but made history for becoming the first US presidential candidate to accept bitcoin to fund his campaign. Featured Image from Shutterstock The post Ex-Bitcoin Skeptic Ron Paul Says Crypto Could Prevent Recession appeared first on CCN . || Ex-Bitcoin Skeptic Ron Paul Says Crypto Could Prevent Recession: Retired US Congressman Ron Paul, a one-time bitcoin skeptic, called for a tax exemption on all cryptocurrencies, saying the move could prevent an economic recession.
Ron Paul, the father of current United States Senator Rand Paul, made the suggestion in ablog postentitled “Trump Is Right, the Fed Is Crazy,” where he blasted the Federal Reserve for manipulating interest rates.
“It is likely that the next Fed-created recession will come sooner rather than later,” Paul wrote. “This could be the major catastrophe that leads to the end of fiat currency.”
Paul said the only way to avoid such a crisis is to allow people to use alternative currencies and to exempt “all transactions in precious metals and cryptocurrencies from capital gains taxes and other taxes.”
Paul said central banks constantly increase and decrease the money supply to control the economy by controlling interest rates.
He said theFederal Reserve‘s cyclical manipulation of interest rates actually fuels recessions by creating an artificial economic boom.
“This can create an illusion of prosperity,” he wrote. “Eventually, reality catches up to the Federal Reserve-created fantasies. When that happens, there is a recession or worse, leading the Fed to start the whole boom-and-bust cycle over again.”
Ron Paul is a libertarian who opposes government intervention in the free market. This is a sentiment shared by many in the cryptocurrency community, who prefer the decentralized and unregulated market that crypto operates in.
Paul — a frequent critic ofPresident Donald Trump— agrees with Trump’s recent criticism of the Federal Reserve.
Paul, true to form, also called for abolishing the Fed, saying a limited government and an economy that is not manipulated is better for society. “Not only should we audit the Federal Reserve, we should get rid of it!” he said.
As recently as December 2017, Ron Paul was a bitcoin skeptic and staunch advocate of the gold standard, asCCN has reported. At the time, Paul expressed surprise that an informal Twitter poll revealed that more than half of his Twitter followers would rather invest in bitcoin than in gold.
“Bitcoin is very exciting, and it’s booming, but [bitcoin investors] don’t have a long-term perspective,” Paul said at the time. “What’s it going to be like in 10 years? Nobody knows. But we have a pretty good idea of where gold will be, in a general sense.”
Paul has since changed his outlook on crypto, and now says he believes that bitcoin and a gold-backed currencycan co-existin a free society.
Ron Paul’s son, Senator Rand Paul,accepted bitcoincontributions when he ran for president in 2016, as CCN reported. He lost the election but made history for becoming the first US presidential candidate to accept bitcoin to fund his campaign.
Featured Image from Shutterstock
The postEx-Bitcoin Skeptic Ron Paul Says Crypto Could Prevent Recessionappeared first onCCN. || Binance Freezes Funds on Multiple Accounts with Dubious Crypto Exchange: Binance has frozen multiple accounts associated with the cryptocurrency exchange Wex, citing money laundering concerns.
The CEO of Binance went onTwitterrecently to announce the freezing of multiple accounts owned by Wex, claiming that Binance will cooperate with law enforcement in any way possible should a criminal investigation result from alleged money laundering.
Wex, a Russian-based cryptocurrency exchange, has had a troubled history, to put it mildly. Going formally under the name of btc-e, it drew communityunrestwhen its alleged operator, Alexander Vinnick, was arrested. It subsequently rebranded to the current name and set up a New Zealand-based server.
People using this exchange have reported being unable to actually use or withdraw their money, with a dedicatedwebsiteof aggrieved users meeting to share information about possible allegations of theft.
Per the CEO of Binance’s Tweet, it seems as if large amounts of this missing money is being moved through Binance, presumably for the purposes of fraud. To this end, Binance has agreed with the general consensus that criminal activities could be involved.
The CEO went on to state that circumstances such as this are often an unpleasant point in favor of increased centralization for cryptocurrency, as someone does have to be on the hook to help stop fraudulent activity.
This article originally appeared onBitcoin Magazine. || Binance Freezes Funds on Multiple Accounts with Dubious Crypto Exchange: Binance Freezes Funds on Multiple Accounts with Dubious Crypto Exchange Binance has frozen multiple accounts associated with the cryptocurrency exchange Wex, citing money laundering concerns. The CEO of Binance went on Twitter recently to announce the freezing of multiple accounts owned by Wex, claiming that Binance will cooperate with law enforcement in any way possible should a criminal investigation result from alleged money laundering. Wex, a Russian-based cryptocurrency exchange, has had a troubled history, to put it mildly. Going formally under the name of btc-e, it drew community unrest when its alleged operator, Alexander Vinnick, was arrested. It subsequently rebranded to the current name and set up a New Zealand-based server. People using this exchange have reported being unable to actually use or withdraw their money, with a dedicated website of aggrieved users meeting to share information about possible allegations of theft. Per the CEO of Binances Tweet, it seems as if large amounts of this missing money is being moved through Binance, presumably for the purposes of fraud. To this end, Binance has agreed with the general consensus that criminal activities could be involved. The CEO went on to state that circumstances such as this are often an unpleasant point in favor of increased centralization for cryptocurrency, as someone does have to be on the hook to help stop fraudulent activity. This article originally appeared on Bitcoin Magazine . View comments || Bitcoin at 10: CNBC Video from 2013 Shows How Far Crypto Has Come: bitcoin crypto progress You confiscate a few billion dollars out of private bank accounts, and you print a couple trillion dollars, and all of a sudden, you know what happens? People start to worry. So out of this worry, we have something called the bitcoin, explains CNBC correspondent Jeff Cox in this video from March 2013, as bitcoin had just crossed the $100 mark for the first time, calling it an electronic, online, digital currency using every word besides cryptocurrency to describe the worlds oldest cryptocurrency. Bitcoin Seen as Safe Haven Even Then Cox felt that one big driver of bitcoin s growth was that it was a safer alternative to fiat currencies in times of extreme debt and currency crises. Today, a Ben Franklin wont get you much bitcoin at all , but at the time you could buy an entire BTC for it. It would go on that year to rise past $100, and then mark a slow decline back beneath the $100 level. From there the price would hover between $100 and $800 for quite some time before finally crossing the $1000 mark again, after which we saw the highest of the highs leading up to the end of 2017. Acceptance Was Still an Issue Bitcoin acceptance has seen dramatic improvements over time. At that time, spending cryptocurrency directly for goods or services was a very limited affair. Overstock was not even accepting BTC at that time, although later on, it would be one of the first major retailers to integrate bitcoin and a host of other cryptocurrencies. Gold Bugs Were Still in the Denial Phase No discussion of bitcoin was complete in those days without a gold bug decrying crypto as inferior to their beloved yellow metal. Michael Pento said he admired bitcoin because it was not fiat money, but said the flagship cryptocurrency was trying to reinvent the wheel, but came up with a flat tire. He falsely believed that bitcoins were not rare and were very much destructible. In fact, as many now know, the cryptocurrencys supply is programmatically rare. There can only ever be 21 million whole units of BTC, whereas gold mining has been going on for ages and will continue to go on. Nevertheless, that bitcoin received this type of press at all, at the time, was an important breakthrough. Today its an everyday occurrence, and no one blinks an eye if bitcoin makes the front page of a major financial paper. Nowadays many gold bugs believe that both gold and cryptocurrency are ideal alternatives to keeping value in fiat money, and they are likely all the richer for this. Featured Image from Shutterstock The post Bitcoin at 10: CNBC Video from 2013 Shows How Far Crypto Has Come appeared first on CCN . View comments || Bitcoin at 10: CNBC Video from 2013 Shows How Far Crypto Has Come: “You confiscate a few billion dollars out of private bank accounts, and you print a couple trillion dollars, and all of a sudden, you know what happens? People start to worry. So out of this worry, we have something called the bitcoin,” explains CNBC correspondent Jeff Cox in this video from March 2013, as bitcoin had just crossed the $100 mark for the first time, calling it an “electronic, online, digital currency” — using every word besides cryptocurrency to describe the world’s oldest cryptocurrency.
Cox felt that one big driver ofbitcoin’s growth was that it was a safer alternative to fiat currencies in times of extreme debt and currency crises.
Today, a Ben Franklinwon’t get you much bitcoin at all, but at the time you could buy an entire BTC for it. It would go on that year to rise past $100, and then mark a slow decline back beneath the $100 level. From there the price would hover between $100 and $800 for quite some time before finally crossing the $1000 mark again, after which we saw the highest of the highs leading up to the end of 2017.
Bitcoin acceptance has seen dramatic improvements over time. At that time, spending cryptocurrency directly for goods or services was a very limited affair.Overstockwas not even accepting BTC at that time, although later on, it would be one of the first major retailers to integrate bitcoin and a host of other cryptocurrencies.
No discussion of bitcoin was complete in those days without a gold bug decrying crypto as inferior to their beloved yellow metal.Michael Pentosaid he admired bitcoin because it was not fiat money, but said the flagship cryptocurrency was “trying to reinvent the wheel, but came up with a flat tire.” He falsely believed that bitcoins were “not rare” and were “very much destructible.” In fact, as many now know, the cryptocurrency’s supply is programmatically rare.
There can only ever be 21 million whole units of BTC, whereas gold mining has been going on for ages and will continue to go on. Nevertheless, that bitcoin received this type of press at all, at the time, was an important breakthrough. Today it’s an everyday occurrence, and no one blinks an eye if bitcoin makes the front page of a major financial paper.
Nowadays many gold bugs believe that both gold and cryptocurrency are ideal alternatives to keeping value in fiat money, and they are likely all the richer for this.
Featured Image from Shutterstock
The postBitcoin at 10: CNBC Video from 2013 Shows How Far Crypto Has Comeappeared first onCCN. || Bitcoin at 10: CNBC Video from 2013 Shows How Far Crypto Has Come: “You confiscate a few billion dollars out of private bank accounts, and you print a couple trillion dollars, and all of a sudden, you know what happens? People start to worry. So out of this worry, we have something called the bitcoin,” explains CNBC correspondent Jeff Cox in this video from March 2013, as bitcoin had just crossed the $100 mark for the first time, calling it an “electronic, online, digital currency” — using every word besides cryptocurrency to describe the world’s oldest cryptocurrency.
Cox felt that one big driver ofbitcoin’s growth was that it was a safer alternative to fiat currencies in times of extreme debt and currency crises.
Today, a Ben Franklinwon’t get you much bitcoin at all, but at the time you could buy an entire BTC for it. It would go on that year to rise past $100, and then mark a slow decline back beneath the $100 level. From there the price would hover between $100 and $800 for quite some time before finally crossing the $1000 mark again, after which we saw the highest of the highs leading up to the end of 2017.
Bitcoin acceptance has seen dramatic improvements over time. At that time, spending cryptocurrency directly for goods or services was a very limited affair.Overstockwas not even accepting BTC at that time, although later on, it would be one of the first major retailers to integrate bitcoin and a host of other cryptocurrencies.
No discussion of bitcoin was complete in those days without a gold bug decrying crypto as inferior to their beloved yellow metal.Michael Pentosaid he admired bitcoin because it was not fiat money, but said the flagship cryptocurrency was “trying to reinvent the wheel, but came up with a flat tire.” He falsely believed that bitcoins were “not rare” and were “very much destructible.” In fact, as many now know, the cryptocurrency’s supply is programmatically rare.
There can only ever be 21 million whole units of BTC, whereas gold mining has been going on for ages and will continue to go on. Nevertheless, that bitcoin received this type of press at all, at the time, was an important breakthrough. Today it’s an everyday occurrence, and no one blinks an eye if bitcoin makes the front page of a major financial paper.
Nowadays many gold bugs believe that both gold and cryptocurrency are ideal alternatives to keeping value in fiat money, and they are likely all the richer for this.
Featured Image from Shutterstock
The postBitcoin at 10: CNBC Video from 2013 Shows How Far Crypto Has Comeappeared first onCCN. || Birthday blues for bitcoin as investors face year-on-year loss: By Tom Wilson LONDON (Reuters) - Bitcoin was heading towards a year-on-year loss on Wednesday, its 10th birthday, the first loss since last year's bull market, when the original and biggest digital coin muscled its way to worldwide attention with months of frenzied buying. By 1300 GMT, bitcoin was trading at $6,263 on the BitStamp exchange, leaving investors who had bought it on Halloween 2017 facing yearly losses of nearly 3 percent. A year ago, bitcoin closed at $6,443.22 as it tore towards a record high of near $20,000, hit in December. That run, fuelled by frenzied buying by retail investors from South Korea to the United States, pushed bitcoin to calendar-year gains of over 1,300 percent. Ten years ago, Satoshi Nakamoto, bitcoin's still-unidentified founder, released a white paper detailing the need for an online currency that could be used for payments without the involvement of a third party, such as a bank. Traders and market participants said the Halloween milestone was inevitable, given losses of around 70 percent from bitcoin's peak and the continuing but incomplete shift towards investment by mainstream financial firms. "The value mechanisms of crypto and bitcoin today are based more on underlying tech than hype and FOMO (fear of missing out)," said Josh Bramley, head trader at crypto wealth management firm Blockstars. Growing use of blockchain - the distributed ledger technology that underpins bitcoin - is now powering valuations of the digital currency, he said, cautioning that some expectations for widespread use have not yet materialised. Others said improvements to infrastructure such as custody services may allow mainstream investors who are wary of buying bitcoin to take positions. "We see behind closed doors financial and non-financial institutions beavering away to create the infrastructure," said Ben Sebley, head of brokerage at NKB Group, a blockchain advisory and investment firm. Bitcoin has endured year-on-year losses before, according to data from CryptoCompare, most recently in 2015-15. Retail investors still account for a strong proportion of trading, market players said. Investors who bet early on bitcoin and have stuck with it have faced a roller-coaster ride in its first decade. Many told Reuters they are optimistic that they are still onto a winner. (Reporting by Tom Wilson) || Birthday blues for bitcoin as investors face year-on-year loss: By Tom Wilson LONDON (Reuters) - Bitcoin was heading towards a year-on-year loss on Wednesday, its 10th birthday, the first loss since last year's bull market, when the original and biggest digital coin muscled its way to worldwide attention with months of frenzied buying. By 1300 GMT, bitcoin was trading at $6,263 on the BitStamp exchange, leaving investors who had bought it on Halloween 2017 facing yearly losses of nearly 3 percent. A year ago, bitcoin closed at $6,443.22 as it tore towards a record high of near $20,000, hit in December. That run, fuelled by frenzied buying by retail investors from South Korea to the United States, pushed bitcoin to calendar-year gains of over 1,300 percent. Ten years ago, Satoshi Nakamoto, bitcoin's still-unidentified founder, released a white paper detailing the need for an online currency that could be used for payments without the involvement of a third party, such as a bank. Traders and market participants said the Halloween milestone was inevitable, given losses of around 70 percent from bitcoin's peak and the continuing but incomplete shift towards investment by mainstream financial firms. "The value mechanisms of crypto and bitcoin today are based more on underlying tech than hype and FOMO (fear of missing out)," said Josh Bramley, head trader at crypto wealth management firm Blockstars. Growing use of blockchain - the distributed ledger technology that underpins bitcoin - is now powering valuations of the digital currency, he said, cautioning that some expectations for widespread use have not yet materialised. Others said improvements to infrastructure such as custody services may allow mainstream investors who are wary of buying bitcoin to take positions. "We see behind closed doors financial and non-financial institutions beavering away to create the infrastructure," said Ben Sebley, head of brokerage at NKB Group, a blockchain advisory and investment firm. Bitcoin has endured year-on-year losses before, according to data from CryptoCompare, most recently in 2015-15. Retail investors still account for a strong proportion of trading, market players said. Investors who bet early on bitcoin and have stuck with it have faced a roller-coaster ride in its first decade. Many told Reuters they are optimistic that they are still onto a winner. (Reporting by Tom Wilson) || Crypto Markets Placid on 10th Anniversary of Bitcoin Whitepaper: Wednesday, Oct. 31: after a couple of days of mild losses , crypto markets have today stabilized, with most of the top twenty cryptocurrencies by market cap seeing slight fluctuations capped within a 2 percent range. Market visualization by Coin360 On the 10th anniversary of the publication of its white paper on Oct. 31, 2008, Bitcoin ( BTC ) is today up under one percent, trading just above $6,300 at press time. Before sustaining mild losses Oct. 29-31, Bitcoin had been trading within a tightly range bound between $6,400-$6,500, prompting multiple crypto sphere commentators to remark on its new quasi stablecoin-like trading patterns. Earlier this month, the top coin sealed a 17-month low volatility rate , recording its highest level of stability since mid-2017: the trend continued before this week’s minor stirrings. Bitcoin’s first ever recorded trading price was March 17, 2010, on the now-defunct platform bitcoinmarket.com, at a value of $0.003: the crypto has sealed 209,999,900 percent growth since then to press time. On the week, Bitcoin is around 1.8 percent in the red, with monthly losses at around 4.65 percent. Bitcoin 7-day price chart. Source: Cointelegraph Bitcoin Price Index Ethereum ( ETH ) is also up just slightly, seeing 1.4 percent growth on the day to trade at $196, having correlated closely with Bitcoin’s trading patterns throughout the week. Until Oct. 29, the leading altcoin was holding close to the $200-$210 mark, before dropping to $192, then trading sideways at a lower price point this week. On its weekly chart, Ethereum is around 2 percent in the red; monthly losses are at a stark 15 percent. Ethereum 7-day price chart. Source: Cointelegraph Ethereum Price Index The coin’s price remains in the lower ranger after dropping Monday, despite big headlines for the Ethereum network since. On Oct. 30, “Big Four” auditor Ernst and Young launched the prototype of an enterprise-focused system that enables secure and private transactions to take place on the Ethereum public blockchain, using zero-knowledge proof ( ZKP ) technology. Story continues During the Ethereum’s annual Devcon conference today, the co-author of the ERC-20 token standard introduced a new model for Initial Coin Offerings ( ICO ), dubbed a “reversible ICO” (RICO). The new fundraising model allows investors to return their tokens – and be reimbursed – at any stage of the project, via a special-purpose smart contract . The remaining top ten coins on CoinMarketCap are mostly just inching into green, with the strongest growth sealed by anonymity-oriented alt Monero ( XMR ), up 2.42 percent to trade at $104.15. Stellar ( XLM ), down just 0.65 percent at $0.222, has been the hardest hit of any top-ten coin. In the context of the top twenty coins, volatiltiy is also low, with coins seeing a mix of red and green, almost all bound under 2 percent. VeChain ( VEC ), ranked 20th, is seeing the most change over the past 24 hours, up 2.6 percent. With markedly little price momentum all round, 19th largest crypto Zcash ( ZEC ) has seen the largest losses on the day to press time, down 1.49 percent. Total market capitalization of all cryptocurrencies is around $203.3 billion as of press time, down from around $210 billion – a mark it held for about two weeks prior – since the markets tipped downwards Oct. 29. 7-day chart of the total market capitalization of all cryptocurrencies from CoinMarketCap In other major crypto news today, the chairman of South Korea's Financial Services Commission (FSC) has affirmed that crypto exchanges should face no issues with banks issuing them so-called virtual accounts, as long as their anti-money-laundering ( AML ) know-your-customer ( KYC ) measures are adequate. In the U.S. , the president of major cryptocurrency exchange and wallet provider Coinbase has denied recent IPO rumors and indicated that the platform aims to support around 200-300 coins within the “next year or so,” though more likely to customers outside of the country. Related Articles: Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Stellar, Litecoin, Cardano, Monero, TRON: Price Analysis, October 19 Crypto Markets See Minor Losses as Relative Calm Continues, Bitcoin Slips Below $6,500 Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Stellar, Litecoin, Cardano, Monero, TRON: Price Analysis, October 31 Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Stellar, Litecoin, Cardano, Monero, TRON: Price Analysis, October 24 || Crypto Markets Placid on 10th Anniversary of Bitcoin Whitepaper: Wednesday, Oct. 31: after a couple of days of mild losses , crypto markets have today stabilized, with most of the top twenty cryptocurrencies by market cap seeing slight fluctuations capped within a 2 percent range. Market visualization by Coin360 On the 10th anniversary of the publication of its white paper on Oct. 31, 2008, Bitcoin ( BTC ) is today up under one percent, trading just above $6,300 at press time. Before sustaining mild losses Oct. 29-31, Bitcoin had been trading within a tightly range bound between $6,400-$6,500, prompting multiple crypto sphere commentators to remark on its new quasi stablecoin-like trading patterns. Earlier this month, the top coin sealed a 17-month low volatility rate , recording its highest level of stability since mid-2017: the trend continued before this week’s minor stirrings. Bitcoin’s first ever recorded trading price was March 17, 2010, on the now-defunct platform bitcoinmarket.com, at a value of $0.003: the crypto has sealed 209,999,900 percent growth since then to press time. On the week, Bitcoin is around 1.8 percent in the red, with monthly losses at around 4.65 percent. Bitcoin 7-day price chart. Source: Cointelegraph Bitcoin Price Index Ethereum ( ETH ) is also up just slightly, seeing 1.4 percent growth on the day to trade at $196, having correlated closely with Bitcoin’s trading patterns throughout the week. Until Oct. 29, the leading altcoin was holding close to the $200-$210 mark, before dropping to $192, then trading sideways at a lower price point this week. On its weekly chart, Ethereum is around 2 percent in the red; monthly losses are at a stark 15 percent. Ethereum 7-day price chart. Source: Cointelegraph Ethereum Price Index The coin’s price remains in the lower ranger after dropping Monday, despite big headlines for the Ethereum network since. On Oct. 30, “Big Four” auditor Ernst and Young launched the prototype of an enterprise-focused system that enables secure and private transactions to take place on the Ethereum public blockchain, using zero-knowledge proof ( ZKP ) technology. Story continues During the Ethereum’s annual Devcon conference today, the co-author of the ERC-20 token standard introduced a new model for Initial Coin Offerings ( ICO ), dubbed a “reversible ICO” (RICO). The new fundraising model allows investors to return their tokens – and be reimbursed – at any stage of the project, via a special-purpose smart contract . The remaining top ten coins on CoinMarketCap are mostly just inching into green, with the strongest growth sealed by anonymity-oriented alt Monero ( XMR ), up 2.42 percent to trade at $104.15. Stellar ( XLM ), down just 0.65 percent at $0.222, has been the hardest hit of any top-ten coin. In the context of the top twenty coins, volatiltiy is also low, with coins seeing a mix of red and green, almost all bound under 2 percent. VeChain ( VEC ), ranked 20th, is seeing the most change over the past 24 hours, up 2.6 percent. With markedly little price momentum all round, 19th largest crypto Zcash ( ZEC ) has seen the largest losses on the day to press time, down 1.49 percent. Total market capitalization of all cryptocurrencies is around $203.3 billion as of press time, down from around $210 billion – a mark it held for about two weeks prior – since the markets tipped downwards Oct. 29. 7-day chart of the total market capitalization of all cryptocurrencies from CoinMarketCap In other major crypto news today, the chairman of South Korea's Financial Services Commission (FSC) has affirmed that crypto exchanges should face no issues with banks issuing them so-called virtual accounts, as long as their anti-money-laundering ( AML ) know-your-customer ( KYC ) measures are adequate. In the U.S. , the president of major cryptocurrency exchange and wallet provider Coinbase has denied recent IPO rumors and indicated that the platform aims to support around 200-300 coins within the “next year or so,” though more likely to customers outside of the country. Related Articles: Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Stellar, Litecoin, Cardano, Monero, TRON: Price Analysis, October 19 Crypto Markets See Minor Losses as Relative Calm Continues, Bitcoin Slips Below $6,500 Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Stellar, Litecoin, Cardano, Monero, TRON: Price Analysis, October 31 Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Stellar, Litecoin, Cardano, Monero, TRON: Price Analysis, October 24 || Crypto Markets Placid on 10th Anniversary of Bitcoin Whitepaper: Wednesday, Oct. 31: after a couple of days of mild losses , crypto markets have today stabilized, with most of the top twenty cryptocurrencies by market cap seeing slight fluctuations capped within a 2 percent range. Market visualization by Coin360 On the 10th anniversary of the publication of its white paper on Oct. 31, 2008, Bitcoin ( BTC ) is today up under one percent, trading just above $6,300 at press time. Before sustaining mild losses Oct. 29-31, Bitcoin had been trading within a tightly range bound between $6,400-$6,500, prompting multiple crypto sphere commentators to remark on its new quasi stablecoin-like trading patterns. Earlier this month, the top coin sealed a 17-month low volatility rate , recording its highest level of stability since mid-2017: the trend continued before this week’s minor stirrings. Bitcoin’s first ever recorded trading price was March 17, 2010, on the now-defunct platform bitcoinmarket.com, at a value of $0.003: the crypto has sealed 209,999,900 percent growth since then to press time. On the week, Bitcoin is around 1.8 percent in the red, with monthly losses at around 4.65 percent. Bitcoin 7-day price chart. Source: Cointelegraph Bitcoin Price Index Ethereum ( ETH ) is also up just slightly, seeing 1.4 percent growth on the day to trade at $196, having correlated closely with Bitcoin’s trading patterns throughout the week. Until Oct. 29, the leading altcoin was holding close to the $200-$210 mark, before dropping to $192, then trading sideways at a lower price point this week. On its weekly chart, Ethereum is around 2 percent in the red; monthly losses are at a stark 15 percent. Ethereum 7-day price chart. Source: Cointelegraph Ethereum Price Index The coin’s price remains in the lower ranger after dropping Monday, despite big headlines for the Ethereum network since. On Oct. 30, “Big Four” auditor Ernst and Young launched the prototype of an enterprise-focused system that enables secure and private transactions to take place on the Ethereum public blockchain, using zero-knowledge proof ( ZKP ) technology. Story continues During the Ethereum’s annual Devcon conference today, the co-author of the ERC-20 token standard introduced a new model for Initial Coin Offerings ( ICO ), dubbed a “reversible ICO” (RICO). The new fundraising model allows investors to return their tokens – and be reimbursed – at any stage of the project, via a special-purpose smart contract . The remaining top ten coins on CoinMarketCap are mostly just inching into green, with the strongest growth sealed by anonymity-oriented alt Monero ( XMR ), up 2.42 percent to trade at $104.15. Stellar ( XLM ), down just 0.65 percent at $0.222, has been the hardest hit of any top-ten coin. In the context of the top twenty coins, volatiltiy is also low, with coins seeing a mix of red and green, almost all bound under 2 percent. VeChain ( VEC ), ranked 20th, is seeing the most change over the past 24 hours, up 2.6 percent. With markedly little price momentum all round, 19th largest crypto Zcash ( ZEC ) has seen the largest losses on the day to press time, down 1.49 percent. Total market capitalization of all cryptocurrencies is around $203.3 billion as of press time, down from around $210 billion – a mark it held for about two weeks prior – since the markets tipped downwards Oct. 29. 7-day chart of the total market capitalization of all cryptocurrencies from CoinMarketCap In other major crypto news today, the chairman of South Korea's Financial Services Commission (FSC) has affirmed that crypto exchanges should face no issues with banks issuing them so-called virtual accounts, as long as their anti-money-laundering ( AML ) know-your-customer ( KYC ) measures are adequate. In the U.S. , the president of major cryptocurrency exchange and wallet provider Coinbase has denied recent IPO rumors and indicated that the platform aims to support around 200-300 coins within the “next year or so,” though more likely to customers outside of the country. Related Articles: Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Stellar, Litecoin, Cardano, Monero, TRON: Price Analysis, October 19 Crypto Markets See Minor Losses as Relative Calm Continues, Bitcoin Slips Below $6,500 Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Stellar, Litecoin, Cardano, Monero, TRON: Price Analysis, October 31 Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Stellar, Litecoin, Cardano, Monero, TRON: Price Analysis, October 24 || Bitcoin turns 10: An annotated timeline: This post has been updated.
Wednesday marks 10 years since the white paper “Bitcoin: A Peer-to-Peer Electronic Cash System” was posted to a cryptographic mailing list, sparking one of the biggest flurries of tech innovation in a decade.
Thepaper, by the still-unknown Satoshi Nakamoto, led to the creation of bitcoin, the first cryptocurrency. There are now over 2,000 cryptocurrencies in circulation and the entire industry is worth over $200 billion.
For those who haven’t been following bitcoin closely, below is a rundown of the story of the asset thus far:
Although the initial idea for bitcoin was first proposed in late 2008, it wasn’t until January 2009 that the bitcoin network was first created. Even then, there were no bitcoin exchanges for the first year, meaning there was no quoted price for bitcoin. The first exchange — the now defunct BitcoinMarkets.com — launched in March 2010. The first real-world bitcoin transaction took place a few months later whenLaszlo Hanyecz bought two pizzas for 10,000 BTC in Florida. The highest price for bitcoin across 2010 was $0.39.
Over the next few years bitcoin slowly began to creep into mainstream consciousness but, unfortunately, for the wrong reasons.
One of the first people to grasp the radical possibilities of an anonymous online currency was Ross Ulbricht, aka Dread Pirate Roberts, who founded dark web marketplace Silk Road in 2011. The infamous online site was dominated by drug sales and used bitcoin as its currency. An estimated $1 billion-worth of bitcoin changed hands over the site before it was shut down by the FBI in 2013.
Bitcoin went properly mainstream in 2013 with increasing media mentions, growing numbers of new bitcoin companies popping up, and big businesses such as Baidu and Overstock agreeing to accept bitcoin.
In early 2013, leading exchange Coinbase said it had sold over $1m-worth of bitcoin in a month for the first time, a sign that the market was growing. Indeed, bitcoin experienced its first major price spike in 2013, rising to over $1,200 by the end of the year.A Forbes article in December declared 2013 the “Year of the Bitcoin.”However, the Chinese government banned bitcoin at the end of the year, causing the price to drop.
Bitcoin was dealt a major blow in 2014 with the collapse of bitcoin exchange MtGox, which was by far the largest cryptocurrency exchange globally at the time. Tokyo-based MtGox filed for bankruptcy in February 2014 after suffering a major hack that it initially thought cost it 850,000 bitcoin.
The collapse of MtGox coincided with some of the air coming out of the bitcoin price bubble that had inflated in 2013. After starting the year at close to $1,000, bitcoin finished 2014 nearer $300.
Despite retail investors getting their fingers burned by MtGox, venture capital firms were beginning to wake up to the potential of bitcoin, cryptocurrencies, and blockchain, which is the cryptographic database technology underpinning virtual currencies. Over $1 billion was invested in bitcoin and blockchain startups across 2015 and 2016,according to CB Insights. That’s more than double what was invested across the prior three years.
Banks, which had long dismissed and derided bitcoin, also began to look at blockchain (although not cryptocurrencies). A report from Santander in 2015 estimated thatbanks could save $20 billion a year in back office costs by moving to the new technology.
Bitcoin’s price remained stuck in a range while all this was going on, failing to beat the price high it recorded in 2014.
Bitcoin finally passed its 2014 price peak in 2017 — and then some. The price exploded in 2017 as interest in cryptocurrencies surged. It coincided with a slew of new cryptocurrencies being launched, which attracted huge amounts of retail investment.
Bitcoin surged to a high of over $20,000 by the end of 2017, with daily price spikes of more than 10% not unusual. As the price rocketed, more mainstream financial firms began to look at the asset. Exchange operators CBOE and CME Group both launched bitcoin futures in December.
However, the surge appeared to be driven by investors piling in looking for short-term returns. By the end of the year, analysts were warning about a bubble.
Bitcoin and other cryptocurrencies crashed back down to earth in 2018 as people began to realise that 2017 price rise was largely driven by hopes of short term gains rather than any fundamentals. Bitcoin dropped sharply during the first three months of the year but has now been stuck in a range around the $6,200 mark for the past two months. This has coincided with a period of unusually low volatility of the cryptocurrency.
In October theFinancial Action Task Force (FATF), the Paris-basedglobal money-laundering watchdog,announcedthat it would establish rules for governments to oversee cryptocurrencies. Also in October, theSecurities and Exchange Commission (SEC)widenedits crackdown on certain parts of the crypto market.
READ MORE:What crypto investment firms are telling clients during a bear market
Follow Yahoo Finance onTwitter,Facebook,Instagram,Flipboard,LinkedIn, andreddit. || A timeline of bitcoin's history: Bitcoin turns 10: This post has been updated. Wednesday marks 10 years since the white paper “Bitcoin: A Peer-to-Peer Electronic Cash System” was posted to a cryptographic mailing list, sparking one of the biggest flurries of tech innovation in a decade. The paper , by the still-unknown Satoshi Nakamoto, led to the creation of bitcoin, the first cryptocurrency. There are now over 2,000 cryptocurrencies in circulation and the entire industry is worth over $200 billion. For those who haven’t been following bitcoin closely, below is a rundown of the story of the asset thus far: Bitcoin has had an eventful first decade. (Graphic: Yahoo Finance) 2008-2010: Year dot Although the initial idea for bitcoin was first proposed in late 2008, it wasn’t until January 2009 that the bitcoin network was first created. Even then, there were no bitcoin exchanges for the first year, meaning there was no quoted price for bitcoin. The first exchange — the now defunct BitcoinMarkets.com — launched in March 2010. The first real-world bitcoin transaction took place a few months later when Laszlo Hanyecz bought two pizzas for 10,000 BTC in Florida. The highest price for bitcoin across 2010 was $0.39. 2011-2012: Early years and drug deals Over the next few years bitcoin slowly began to creep into mainstream consciousness but, unfortunately, for the wrong reasons. One of the first people to grasp the radical possibilities of an anonymous online currency was Ross Ulbricht, aka Dread Pirate Roberts, who founded dark web marketplace Silk Road in 2011. The infamous online site was dominated by drug sales and used bitcoin as its currency. An estimated $1 billion-worth of bitcoin changed hands over the site before it was shut down by the FBI in 2013. 2013: Year of the bitcoin Bitcoin went properly mainstream in 2013 with increasing media mentions, growing numbers of new bitcoin companies popping up, and big businesses such as Baidu and Overstock agreeing to accept bitcoin. In early 2013, leading exchange Coinbase said it had sold over $1m-worth of bitcoin in a month for the first time, a sign that the market was growing. Indeed, bitcoin experienced its first major price spike in 2013, rising to over $1,200 by the end of the year. A Forbes article in December declared 2013 the “Year of the Bitcoin.” However, the Chinese government banned bitcoin at the end of the year, causing the price to drop. 2014: MtGox Bitcoin was dealt a major blow in 2014 with the collapse of bitcoin exchange MtGox, which was by far the largest cryptocurrency exchange globally at the time. Tokyo-based MtGox filed for bankruptcy in February 2014 after suffering a major hack that it initially thought cost it 850,000 bitcoin. Story continues The collapse of MtGox coincided with some of the air coming out of the bitcoin price bubble that had inflated in 2013. After starting the year at close to $1,000, bitcoin finished 2014 nearer $300. Police officers carry pieces of evidence out of house of Mark Karpeles, the head of defunct Bitcoin exchange MtGox, in Tokyo on August 3, 2015. (Photo: JIJI PRESS/AFP/Getty Images) 2015-16: VCs make big bets on crypto and blockchain Despite retail investors getting their fingers burned by MtGox, venture capital firms were beginning to wake up to the potential of bitcoin, cryptocurrencies, and blockchain, which is the cryptographic database technology underpinning virtual currencies. Over $1 billion was invested in bitcoin and blockchain startups across 2015 and 2016, according to CB Insights . That’s more than double what was invested across the prior three years. Banks, which had long dismissed and derided bitcoin, also began to look at blockchain (although not cryptocurrencies). A report from Santander in 2015 estimated that banks could save $20 billion a year in back office costs by moving to the new technology. Bitcoin’s price remained stuck in a range while all this was going on, failing to beat the price high it recorded in 2014. 2017: Liftoff Bitcoin finally passed its 2014 price peak in 2017 — and then some. The price exploded in 2017 as interest in cryptocurrencies surged. It coincided with a slew of new cryptocurrencies being launched, which attracted huge amounts of retail investment. Bitcoin surged to a high of over $20,000 by the end of 2017, with daily price spikes of more than 10% not unusual. As the price rocketed, more mainstream financial firms began to look at the asset. Exchange operators CBOE and CME Group both launched bitcoin futures in December. However, the surge appeared to be driven by investors piling in looking for short-term returns. By the end of the year, analysts were warning about a bubble. Prices of bitcoin, ether, and XRP in 2018, through Oct. 30. 2018 The hangover Bitcoin and other cryptocurrencies crashed back down to earth in 2018 as people began to realise that 2017 price rise was largely driven by hopes of short term gains rather than any fundamentals. Bitcoin dropped sharply during the first three months of the year but has now been stuck in a range around the $6,200 mark for the past two months. This has coincided with a period of unusually low volatility of the cryptocurrency. In October the Financial Action Task Force (FATF), the Paris-based global money-laundering watchdog, announced that it would establish rules for governments to oversee cryptocurrencies. Also in October, the Securities and Exchange Commission (SEC) widened its crackdown on certain parts of the crypto market. READ MORE: What crypto investment firms are telling clients during a bear market Follow Yahoo Finance on Twitter , Facebook , Instagram , Flipboard , LinkedIn , and reddit . View comments || Bitcoin turns 10: An annotated timeline: This post has been updated.
Wednesday marks 10 years since the white paper “Bitcoin: A Peer-to-Peer Electronic Cash System” was posted to a cryptographic mailing list, sparking one of the biggest flurries of tech innovation in a decade.
Thepaper, by the still-unknown Satoshi Nakamoto, led to the creation of bitcoin, the first cryptocurrency. There are now over 2,000 cryptocurrencies in circulation and the entire industry is worth over $200 billion.
For those who haven’t been following bitcoin closely, below is a rundown of the story of the asset thus far:
Although the initial idea for bitcoin was first proposed in late 2008, it wasn’t until January 2009 that the bitcoin network was first created. Even then, there were no bitcoin exchanges for the first year, meaning there was no quoted price for bitcoin. The first exchange — the now defunct BitcoinMarkets.com — launched in March 2010. The first real-world bitcoin transaction took place a few months later whenLaszlo Hanyecz bought two pizzas for 10,000 BTC in Florida. The highest price for bitcoin across 2010 was $0.39.
Over the next few years bitcoin slowly began to creep into mainstream consciousness but, unfortunately, for the wrong reasons.
One of the first people to grasp the radical possibilities of an anonymous online currency was Ross Ulbricht, aka Dread Pirate Roberts, who founded dark web marketplace Silk Road in 2011. The infamous online site was dominated by drug sales and used bitcoin as its currency. An estimated $1 billion-worth of bitcoin changed hands over the site before it was shut down by the FBI in 2013.
Bitcoin went properly mainstream in 2013 with increasing media mentions, growing numbers of new bitcoin companies popping up, and big businesses such as Baidu and Overstock agreeing to accept bitcoin.
In early 2013, leading exchange Coinbase said it had sold over $1m-worth of bitcoin in a month for the first time, a sign that the market was growing. Indeed, bitcoin experienced its first major price spike in 2013, rising to over $1,200 by the end of the year.A Forbes article in December declared 2013 the “Year of the Bitcoin.”However, the Chinese government banned bitcoin at the end of the year, causing the price to drop.
Bitcoin was dealt a major blow in 2014 with the collapse of bitcoin exchange MtGox, which was by far the largest cryptocurrency exchange globally at the time. Tokyo-based MtGox filed for bankruptcy in February 2014 after suffering a major hack that it initially thought cost it 850,000 bitcoin.
The collapse of MtGox coincided with some of the air coming out of the bitcoin price bubble that had inflated in 2013. After starting the year at close to $1,000, bitcoin finished 2014 nearer $300.
Despite retail investors getting their fingers burned by MtGox, venture capital firms were beginning to wake up to the potential of bitcoin, cryptocurrencies, and blockchain, which is the cryptographic database technology underpinning virtual currencies. Over $1 billion was invested in bitcoin and blockchain startups across 2015 and 2016,according to CB Insights. That’s more than double what was invested across the prior three years.
Banks, which had long dismissed and derided bitcoin, also began to look at blockchain (although not cryptocurrencies). A report from Santander in 2015 estimated thatbanks could save $20 billion a year in back office costs by moving to the new technology.
Bitcoin’s price remained stuck in a range while all this was going on, failing to beat the price high it recorded in 2014.
Bitcoin finally passed its 2014 price peak in 2017 — and then some. The price exploded in 2017 as interest in cryptocurrencies surged. It coincided with a slew of new cryptocurrencies being launched, which attracted huge amounts of retail investment.
Bitcoin surged to a high of over $20,000 by the end of 2017, with daily price spikes of more than 10% not unusual. As the price rocketed, more mainstream financial firms began to look at the asset. Exchange operators CBOE and CME Group both launched bitcoin futures in December.
However, the surge appeared to be driven by investors piling in looking for short-term returns. By the end of the year, analysts were warning about a bubble.
Bitcoin and other cryptocurrencies crashed back down to earth in 2018 as people began to realise that 2017 price rise was largely driven by hopes of short term gains rather than any fundamentals. Bitcoin dropped sharply during the first three months of the year but has now been stuck in a range around the $6,200 mark for the past two months. This has coincided with a period of unusually low volatility of the cryptocurrency.
In October theFinancial Action Task Force (FATF), the Paris-basedglobal money-laundering watchdog,announcedthat it would establish rules for governments to oversee cryptocurrencies. Also in October, theSecurities and Exchange Commission (SEC)widenedits crackdown on certain parts of the crypto market.
READ MORE:What crypto investment firms are telling clients during a bear market
Follow Yahoo Finance onTwitter,Facebook,Instagram,Flipboard,LinkedIn, andreddit. || Should Investors Worry About Southwest Airlines?: Investors have quickly fallen out of love withSouthwest Airlines(NYSE: LUV)stock over the past few weeks. Initially, they may have been concerned about rising fuel prices. However, investors got even more worrisome news in Southwest's recentthird-quarter earnings report, as the airline revealed that nonfuel unit costs are on pace to rise at least 3% next year.
This outlook runs counter to the more benign nonfuel cost trends that most U.S. airlines have been seeing recently. As a result, Southwest Airlines stock has plunged from above $60 in the first week of October to less than $50 near the end of the month and is now down 25% year to date.
Southwest Airlines Year-to-Date Stock Performance, data byYCharts.
Despite the cost pressure, Southwest Airlines hopes to achieve another year of earnings growth in 2019. Let's see if investors have anything to worry about.
From late 2016 through the end of 2017, Southwest Airlines faced significant pressure on its nonfuel unit costs due to rising labor costs and accelerated depreciation on older-generationBoeing(NYSE: BA)737s that it retired last year. This drove a 4.9% increase in Southwest's nonfuel unit costs (excluding special items and profit sharing) in 2017.
Those headwinds disappearedby the end of last year. As a result, the carrier's adjusted nonfuel unit costs are on track to rise no more than 1% in 2018. Most investors likely expected a similar increase next year, but certainly no more than 2%.
However, Southwest Airlines revealed in its third-quarter earnings report that nonfuel unit costs will be up at least 3% next year. CEO Gary Kelly stated during the subsequent earnings call that the carrier is seeing a variety ofnormal inflationary cost pressures, including annual raises for its employees, higher technology and infrastructure investments, and rising maintenance expenses.
What's unusual, according to Kelly, is that Southwest doesn't expect to achieve the level of productivity growth that would offset those headwinds in 2019. Southwest is working hard to get its cost trajectory back on a better track by 2020, but management has made no promises.
Over the past several years, one of the main productivity drivers for Southwest Airlines has been the rapid retirement of its Boeing 737 Classic fleet and its replacement with Boeing 737-800s.
Fleet renewal has been the key to Southwest's productivity growth. Image source: Southwest Airlines.
The Classics had between 122 and 143 seats each, whereas the 737-800s are outfitted with 175 seats. Yet there was very little difference in their operating costs, which meant that upgrading to the 737-800 unlocked substantial productivity gains. The Classics have all been retired now, so Southwest's fleet-related productivity growth has slowed.
However, Southwest Airlines will probably retire the first of its more than 500 Boeing 737-700s within the next year or two. Half of that fleet or more is likely to come up for replacement over the next decade. Like the majority of the 737 Classics, the 737-700s are configured with 143 seats. Nearly all of these planes will be replaced over time with 175-seat 737 MAX 8s.
Southwest currently operates a handful of 737 MAX 8s, but it expects to add at least 225 more to its fleet between 2019 and 2025. It also has 115 options for the 737 MAX 8 with Boeing. The addition of the 737 MAX 8 to the Southwest Airlines fleet is already driving fuel-efficiency gains, but a higher rate of aircraft replacements will be the key to sustainable productivity improvements.
One other interesting (and thus far unresolved) question is whether Southwest might convert some of its 737 MAX 8 orders to Boeing's larger 737 MAX 9 or 737 MAX 10 models. Such a move would unlock further productivity growth opportunities.
For now, Southwest Airlines' fleet-related opportunities to offset its unit cost inflation are just that: opportunities. The good news for investors is that the carrier's unit revenue is heading in the right direction. While revenue per available seat mile (RASM) declined 0.7% in the first nine months of 2018, the company's guidance calls for RASM to rise 1% to 2% this quarter.
Looking ahead to 2019, Southwest Airlines will face easy revenue comparisons for most of the year. It will also continue to capture upside from variousrevenue-boosting initiatives. That's why management is cautiously optimistic that RASM will increase at least 3% next year.
RASM growth of 3% to 4% would hold Southwest's profit margin roughly steady in 2019, barring a huge increase in fuel prices. If all goes well, the company's cost creep will moderate in the years thereafter, enabling further earnings increases even with slower RASM growth. Investors should keep an eye on Southwest Airlines' profit trajectory, but there's no reason to panic yet.
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Adam Levine-Weinbergowns shares of Southwest Airlines. The Motley Fool recommends Southwest Airlines. The Motley Fool has adisclosure policy. || Should Investors Worry About Southwest Airlines?: Investors have quickly fallen out of love with Southwest Airlines (NYSE: LUV) stock over the past few weeks. Initially, they may have been concerned about rising fuel prices. However, investors got even more worrisome news in Southwest's recent third-quarter earnings report , as the airline revealed that nonfuel unit costs are on pace to rise at least 3% next year. This outlook runs counter to the more benign nonfuel cost trends that most U.S. airlines have been seeing recently. As a result, Southwest Airlines stock has plunged from above $60 in the first week of October to less than $50 near the end of the month and is now down 25% year to date. LUV Chart Southwest Airlines Year-to-Date Stock Performance, data by YCharts . Despite the cost pressure, Southwest Airlines hopes to achieve another year of earnings growth in 2019. Let's see if investors have anything to worry about. Cost control slips away again From late 2016 through the end of 2017, Southwest Airlines faced significant pressure on its nonfuel unit costs due to rising labor costs and accelerated depreciation on older-generation Boeing (NYSE: BA) 737s that it retired last year. This drove a 4.9% increase in Southwest's nonfuel unit costs (excluding special items and profit sharing) in 2017. Those headwinds disappeared by the end of last year. As a result, the carrier's adjusted nonfuel unit costs are on track to rise no more than 1% in 2018. Most investors likely expected a similar increase next year, but certainly no more than 2%. However, Southwest Airlines revealed in its third-quarter earnings report that nonfuel unit costs will be up at least 3% next year. CEO Gary Kelly stated during the subsequent earnings call that the carrier is seeing a variety of normal inflationary cost pressures , including annual raises for its employees, higher technology and infrastructure investments, and rising maintenance expenses. What's unusual, according to Kelly, is that Southwest doesn't expect to achieve the level of productivity growth that would offset those headwinds in 2019. Southwest is working hard to get its cost trajectory back on a better track by 2020, but management has made no promises. Story continues The 737 MAX 8 will be key to unlocking productivity Over the past several years, one of the main productivity drivers for Southwest Airlines has been the rapid retirement of its Boeing 737 Classic fleet and its replacement with Boeing 737-800s. A Southwest Airlines plane preparing to land Fleet renewal has been the key to Southwest's productivity growth. Image source: Southwest Airlines. The Classics had between 122 and 143 seats each, whereas the 737-800s are outfitted with 175 seats. Yet there was very little difference in their operating costs, which meant that upgrading to the 737-800 unlocked substantial productivity gains. The Classics have all been retired now, so Southwest's fleet-related productivity growth has slowed. However, Southwest Airlines will probably retire the first of its more than 500 Boeing 737-700s within the next year or two. Half of that fleet or more is likely to come up for replacement over the next decade. Like the majority of the 737 Classics, the 737-700s are configured with 143 seats. Nearly all of these planes will be replaced over time with 175-seat 737 MAX 8s. Southwest currently operates a handful of 737 MAX 8s, but it expects to add at least 225 more to its fleet between 2019 and 2025. It also has 115 options for the 737 MAX 8 with Boeing. The addition of the 737 MAX 8 to the Southwest Airlines fleet is already driving fuel-efficiency gains, but a higher rate of aircraft replacements will be the key to sustainable productivity improvements. One other interesting (and thus far unresolved) question is whether Southwest might convert some of its 737 MAX 8 orders to Boeing's larger 737 MAX 9 or 737 MAX 10 models. Such a move would unlock further productivity growth opportunities. Solid demand may be an adequate substitute during 2019 For now, Southwest Airlines' fleet-related opportunities to offset its unit cost inflation are just that: opportunities. The good news for investors is that the carrier's unit revenue is heading in the right direction. While revenue per available seat mile (RASM) declined 0.7% in the first nine months of 2018, the company's guidance calls for RASM to rise 1% to 2% this quarter. Looking ahead to 2019, Southwest Airlines will face easy revenue comparisons for most of the year. It will also continue to capture upside from various revenue-boosting initiatives . That's why management is cautiously optimistic that RASM will increase at least 3% next year. RASM growth of 3% to 4% would hold Southwest's profit margin roughly steady in 2019, barring a huge increase in fuel prices. If all goes well, the company's cost creep will moderate in the years thereafter, enabling further earnings increases even with slower RASM growth. Investors should keep an eye on Southwest Airlines' profit trajectory, but there's no reason to panic yet. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Adam Levine-Weinberg owns shares of Southwest Airlines. The Motley Fool recommends Southwest Airlines. The Motley Fool has a disclosure policy . || BioMarin Keeps on Pace for Its $2 Billion Goal: BioMarin Pharmaceutical (NASDAQ: BMRN) continues to see solid growth from its stable of drugs to treat orphan diseases as it pushes toward its goal for a combined $2 billion in revenue in 2020. BioMarin Pharmaceutical results: The raw numbers Metric Q3 2018 Q3 2017 YOY Change Revenue $391.7 million $334.1 million 17% Income from operations ($15.7 million) ($13.7 million) N/A Earnings per share ($0.07) ($0.07) N/A Data source: BioMarin Pharmaceutical. YOY=year over year. What happened with BioMarin Pharmaceutical this quarter? Sales of Vimizim jumped 37%, but some of that increase was due to a large order from the Brazilian Ministry of Health. Naglazyme had a similar situation, with a larger order causing sales to jump 43% in the third quarter. By comparison, sales have increased 13% looking at the first three quarters of the year combined, compared with the same period last year. Brineura sales were up a whopping 219%, but since sales were only $3.1 million in the year-ago quarter, the drug, which treats a rare disease called CLN2, still isn't contributing meaningful sales. Sales of Kuvan edged up just 7%, which is understandable as some adult patients switch over to Palynziq, which was approved in May. The launch of Palynziq is going well, with 124 patients paying for the drug at the end of the quarter. Most of those patients transitioned over from clinical trials, but there were 43 patients who hadn't taken Palynziq before. With 68 additional patients in the queue, management felt comfortable guiding for having between 250 and 300 patients on the drug by the end of the year. Doctor talking to patient in an exam room. Image source: Getty Images. What management had to say BioMarin's chief financial officer, Daniel Spiegelman, highlighted the reasons for the slow launch of Brineura: We need to be working through reimbursement processes -- that's time consuming. We're utilizing name patient sales approvals in markets where it's appropriate. That's been successful, but time consuming as well. So the combination of those factors are part of -- and the rarity of CLN2 is really the picture of a slow revenue ramp. Story continues While patients switching from Kuvan to Palynziq is bad news in the short term since it cannibalizes sales, it's actually good for BioMarin in the long term, as Jeffrey Robert Ajer, the company's chief commercial officer, explained: "To date, almost 40% of naive patients enrollments have constituted active Kuvan patients. Long term, and in the context of expected loss of exclusivity for Kuvan in two years, this is a very positive dynamic." Looking forward Management reaffirmed its 2018 guidance from August for revenue of $1.47 million to $1.53 million. Looking further ahead, the company is shooting for 15% revenue growth for the next two years, which would put revenue at about $2 billion. At that point, vosoritide for achondroplasia and valoctocogene roxaparvovec (val rox), BioMarin's gene therapy for hemophilia, could be approved, accelerating revenue growth. The company plans to give more information about plans for vosoritide, val rox, and the rest of its pipeline at its R&D day on Nov. 7. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Brian Orelli has no position in any of the stocks mentioned. The Motley Fool recommends BioMarin Pharmaceutical. The Motley Fool has a disclosure policy . || BioMarin Keeps on Pace for Its $2 Billion Goal: BioMarin Pharmaceutical(NASDAQ: BMRN)continues to see solid growth from its stable of drugs to treat orphan diseases as it pushes toward itsgoalfor a combined $2 billion in revenue in 2020.
[{"Metric": "Revenue", "Q3 2018": "$391.7 million", "Q3 2017": "$334.1 million", "YOY Change": "17%"}, {"Metric": "Income from operations", "Q3 2018": "($15.7 million)", "Q3 2017": "($13.7 million)", "YOY Change": "N/A"}, {"Metric": "Earnings per share", "Q3 2018": "($0.07)", "Q3 2017": "($0.07)", "YOY Change": "N/A"}]
Data source: BioMarin Pharmaceutical. YOY=year over year.
• Sales of Vimizim jumped 37%, but some of that increase was due to a large order from the Brazilian Ministry of Health.
• Naglazyme had a similar situation, with a larger order causing sales to jump 43% in the third quarter. By comparison, sales have increased 13% looking at the first three quarters of the year combined, compared with the same period last year.
• Brineura sales were up a whopping 219%, but since sales were only $3.1 million in the year-ago quarter, the drug, which treats a rare disease called CLN2, still isn't contributing meaningful sales.
• Sales of Kuvan edged up just 7%, which is understandable as some adult patients switch over to Palynziq, which wasapprovedin May.
• The launch of Palynziq is going well, with 124 patients paying for the drug at the end of the quarter. Most of those patients transitioned over from clinical trials, but there were 43 patients who hadn't taken Palynziq before. With 68 additional patients in the queue, management felt comfortable guiding for having between 250 and 300 patients on the drug by the end of the year.
Image source: Getty Images.
BioMarin's chief financial officer, Daniel Spiegelman,highlightedthe reasons for the slow launch of Brineura:
We need to be working through reimbursement processes -- that's time consuming. We're utilizing name patient sales approvals in markets where it's appropriate. That's been successful, but time consuming as well. So the combination of those factors are part of -- and the rarity of CLN2 is really the picture of a slow revenue ramp.
While patients switching from Kuvan to Palynziq is bad news in the short term since it cannibalizes sales, it's actually good for BioMarin in the long term, as Jeffrey Robert Ajer, the company's chief commercial officer, explained: "To date, almost 40% of naive patients enrollments have constituted active Kuvan patients. Long term, and in the context of expected loss of exclusivity for Kuvan in two years, this is a very positive dynamic."
Management reaffirmed its 2018 guidance from August for revenue of $1.47 million to $1.53 million. Looking further ahead, the company is shooting for 15% revenue growth for the next two years, which would put revenue at about $2 billion. At that point, vosoritide for achondroplasia and valoctocogene roxaparvovec (val rox), BioMarin's gene therapy for hemophilia, could be approved, accelerating revenue growth.
The company plans to give more information about plans for vosoritide, val rox, and the rest of its pipeline at its R&D day on Nov. 7.
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• 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing
• 10 Best Stocks to Buy Today
• The $16,122 Social Security Bonus You Cannot Afford to Miss
• Bitcoin's Biggest Competitor Isn't Ethereum -- It's This
Brian Orellihas no position in any of the stocks mentioned. The Motley Fool recommends BioMarin Pharmaceutical. The Motley Fool has adisclosure policy.
[Social Media Buzz]
1 BTC = 23789.95684000 BRL em 01/11/2018 ás 17:00:02. #bitcoin #bitcoinbr #bitcoinexchangebr || Total Market Cap: $209,466,983,465
1 BTC: $6,527.34
BTC Dominance: 54.1%
Update Time: 01-11-2018 - 08:00:04 (GMT+3) || Current price: $0.022068
Node count: 941
Total accounts: 549742
Coins burned: 3,078,191.00 TRX
#tron #trx $trx $btc #btc || 💋 iyi akşamlar
#beylikdüzüescort #ataköyescort #taksimescort #halkalıescort #bostanciescort #eskortbayan #escortbayan #escortnews #bitcoin #vipescort #...
|
6388.44, 6361.26, 6376.13, 6419.66, 6461.01, 6530.14, 6453.72, 6385.62, 6409.22, 6411.27
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Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 6512.71, 6543.20, 6517.18, 6281.20, 6371.30, 6398.54, 6519.67, 6734.95, 6721.98, 6710.63, 6595.41, 6446.47, 6495.00, 6676.75, 6644.13, 6601.96, 6625.56, 6589.62, 6556.10, 6502.59, 6576.69, 6622.48, 6588.31, 6602.95, 6652.23, 6642.64, 6585.53, 6256.24, 6274.58, 6285.99, 6290.93, 6596.54, 6596.11, 6544.43, 6476.71, 6465.41, 6489.19, 6482.35, 6487.16, 6475.74, 6495.84, 6476.29, 6474.75, 6480.38, 6486.39, 6332.63, 6334.27, 6317.61, 6377.78, 6388.44, 6361.26, 6376.13, 6419.66, 6461.01, 6530.14, 6453.72, 6385.62, 6409.22, 6411.27, 6371.27, 6359.49, 5738.35, 5648.03, 5575.55, 5554.33, 5623.54, 4871.49, 4451.87, 4602.17, 4365.94, 4347.11, 3880.76, 4009.97, 3779.13, 3820.72, 4257.42, 4278.85, 4017.27, 4214.67, 4139.88, 3894.13, 3956.89, 3753.99, 3521.10, 3419.94, 3476.11, 3614.23, 3502.66, 3424.59, 3486.95.
|
[Bitcoin Technical Analysis for 2018-12-12]
Volume: 4139364829, RSI (14-day): 30.90, 50-day EMA: 4809.23, 200-day EMA: 6313.00
[Wider Market Context]
Gold Price: 1244.40, Gold RSI: 61.44
Oil Price: 51.15, Oil RSI: 34.94
[Recent News (last 7 days)]
Bitcoin Sextortion Scheme Seduces Victims into Installing Ransomware: A sextortion scam that doubles its chances of success by planting ransomware on the computing device of its target victims has emerged, and as is often the case the attackers want to be paid in bitcoin.
According to researchers at cybersecurity firmProofpoint, the sextortion campaign, which is mostly targeting residents of theUnited States, is including links in the blackmail email pointing to a ransomware installer.
As with other similarsextortion campaigns, the scam claims to have compromising information that has been gathered over months and compiled in a video. But when the victim clicks on the links to the video to verify that indeed they were secretly recorded, they end up inadvertently installing ransomware known as GandCrab.
Once the ransomware is successfully installed, a payment of US$500 is demanded from the victim, and it has to be paid in cryptocurrency, specificallybitcoinordash. Interestingly, GandCrab, which was discovered in January this year, is the first known ransomware to demand payment in dash.
According to Proofpoint researchers, the cyber criminals are preying on fears and hoping that their target victims, having panicked, will not think twice about clicking on links — however suspicious they may appear.
“This particular attack combines multiple layers of social engineering as vulnerable, frightened recipients are tricked into clicking the link to determine whether the sender actually has evidence of illicit activity,” the cybersecurity researchers wrote in a blog post.
From a sample seen by the Proofpoint researchers, the cyber criminals are employing this technique to increase their chances of making money if the sextortion attempt fails. The sample blackmail email, for instance, requests US$381 to be paid if the victim does not want the compromising information that has supposedly been collected from them sent to their family and friends. It is only when the victims seek to see the video evidence that the ransomware is installed and their computing device locked, with victims once again asked to send a bitcoin or dash payment to unlock it.
Though the ransomware creators claim to have the necessary login credentials of their victims, this is not the case. In one of the sample emails, the ransomware creators allege that they have a password of the target, though the cybersecurity researchers have determined that not to be the case:
“The supposed password for the potential victim’s email address in this case appears to be the same as the email account. Therefore, in this case it may simply be a bluff and the attacker does not actually possess the victim’s password.”
It is estimated that in the first two months after GandCrab was first discovered, it made its creators approximately US$600,000 from more than 50,000 victims mostly in theUnited Kingdom, the United States, and Scandinavia.
Featured Image from Shutterstock
The postBitcoin Sextortion Scheme Seduces Victims into Installing Ransomwareappeared first onCCN. || Bitcoin Sextortion Scheme Seduces Victims into Installing Ransomware: A sextortion scam that doubles its chances of success by planting ransomware on the computing device of its target victims has emerged, and as is often the case the attackers want to be paid in bitcoin.
According to researchers at cybersecurity firmProofpoint, the sextortion campaign, which is mostly targeting residents of theUnited States, is including links in the blackmail email pointing to a ransomware installer.
As with other similarsextortion campaigns, the scam claims to have compromising information that has been gathered over months and compiled in a video. But when the victim clicks on the links to the video to verify that indeed they were secretly recorded, they end up inadvertently installing ransomware known as GandCrab.
Once the ransomware is successfully installed, a payment of US$500 is demanded from the victim, and it has to be paid in cryptocurrency, specificallybitcoinordash. Interestingly, GandCrab, which was discovered in January this year, is the first known ransomware to demand payment in dash.
According to Proofpoint researchers, the cyber criminals are preying on fears and hoping that their target victims, having panicked, will not think twice about clicking on links — however suspicious they may appear.
“This particular attack combines multiple layers of social engineering as vulnerable, frightened recipients are tricked into clicking the link to determine whether the sender actually has evidence of illicit activity,” the cybersecurity researchers wrote in a blog post.
From a sample seen by the Proofpoint researchers, the cyber criminals are employing this technique to increase their chances of making money if the sextortion attempt fails. The sample blackmail email, for instance, requests US$381 to be paid if the victim does not want the compromising information that has supposedly been collected from them sent to their family and friends. It is only when the victims seek to see the video evidence that the ransomware is installed and their computing device locked, with victims once again asked to send a bitcoin or dash payment to unlock it.
Though the ransomware creators claim to have the necessary login credentials of their victims, this is not the case. In one of the sample emails, the ransomware creators allege that they have a password of the target, though the cybersecurity researchers have determined that not to be the case:
“The supposed password for the potential victim’s email address in this case appears to be the same as the email account. Therefore, in this case it may simply be a bluff and the attacker does not actually possess the victim’s password.”
It is estimated that in the first two months after GandCrab was first discovered, it made its creators approximately US$600,000 from more than 50,000 victims mostly in theUnited Kingdom, the United States, and Scandinavia.
Featured Image from Shutterstock
The postBitcoin Sextortion Scheme Seduces Victims into Installing Ransomwareappeared first onCCN. || Bitcoin Sextortion Scheme Seduces Victims into Installing Ransomware: bitcoin sextortion crypto ransomware A sextortion scam that doubles its chances of success by planting ransomware on the computing device of its target victims has emerged, and as is often the case the attackers want to be paid in bitcoin. According to researchers at cybersecurity firm Proofpoint , the sextortion campaign, which is mostly targeting residents of the United States , is including links in the blackmail email pointing to a ransomware installer. As with other similar sextortion campaigns , the scam claims to have compromising information that has been gathered over months and compiled in a video. But when the victim clicks on the links to the video to verify that indeed they were secretly recorded, they end up inadvertently installing ransomware known as GandCrab. Once the ransomware is successfully installed, a payment of US$500 is demanded from the victim, and it has to be paid in cryptocurrency, specifically bitcoin or dash . Interestingly, GandCrab, which was discovered in January this year, is the first known ransomware to demand payment in dash. Striking at a Moment of Vulnerability For the first time this week, we observed a sextortion campaign that also includes a link to #ransomware with #SocialEngineering designed to extort money from recipients. https://t.co/Fol821L2wU pic.twitter.com/PGo9FZfu2p Proofpoint (@proofpoint) December 7, 2018 According to Proofpoint researchers, the cyber criminals are preying on fears and hoping that their target victims, having panicked, will not think twice about clicking on links however suspicious they may appear. This particular attack combines multiple layers of social engineering as vulnerable, frightened recipients are tricked into clicking the link to determine whether the sender actually has evidence of illicit activity, the cybersecurity researchers wrote in a blog post. From a sample seen by the Proofpoint researchers, the cyber criminals are employing this technique to increase their chances of making money if the sextortion attempt fails. The sample blackmail email, for instance, requests US$381 to be paid if the victim does not want the compromising information that has supposedly been collected from them sent to their family and friends. It is only when the victims seek to see the video evidence that the ransomware is installed and their computing device locked, with victims once again asked to send a bitcoin or dash payment to unlock it. Story continues Putting on an Act Though the ransomware creators claim to have the necessary login credentials of their victims, this is not the case. In one of the sample emails, the ransomware creators allege that they have a password of the target, though the cybersecurity researchers have determined that not to be the case: The supposed password for the potential victims email address in this case appears to be the same as the email account. Therefore, in this case it may simply be a bluff and the attacker does not actually possess the victims password. It is estimated that in the first two months after GandCrab was first discovered, it made its creators approximately US$600,000 from more than 50,000 victims mostly in the United Kingdom , the United States, and Scandinavia. Featured Image from Shutterstock The post Bitcoin Sextortion Scheme Seduces Victims into Installing Ransomware appeared first on CCN . View comments || Bitcoin Price Analysis: Bear Pennant Breakout Puts $1,700 Price in Sight: Another week, another low. Bitcoin’s market has been bleeding relentlessly for weeks and now, after falling 50% in value in just one month, the market has managed to break south of a major bearish consolidation pattern called a bear pennant:
Figure 1:BTC-USD, 4-Hour Candles, Bear Pennant Breakout
This is a massive bear pennant with a staggering $2,000 measured move. In layman's terms: The price target for this breakout would be approximately $1,700, after all is said and done. Now, it’s important to note this is just a projection and it isn’t a guaranteed trajectory, but this setup should not be underestimated. However, if we look at a macro view of bitcoin price levels, the $1,700 price range is confluent with a strong support level:
Figure 2:BTC-USD, Daily Candles, Price Target
As mentioned inprevious market analyses, bitcoin has begun to march down all its previous untested support levels, one by one. As each support level proved to be unsustainable, the market has decided to test lower and lower throughout the current downtrend with very little relief for the eager bulls:
Figure 3:BTC-USD, Daily Candles, Previous Support Levels
Figure 3 shows all the previous support levels and how they have also coincided with the previous shakeout periods during the parabolic run-up last year. Although we have yet to test new lows this week, something that is slightly concerning is the general lack of volume on these drops. While this can be a sign of temporary bearish weakness (or lack of supply), overall, this likely doesn’t bode well, as it hasn’t represented capitulatory volume — something that would be a clear sign that buyers are interested at these levels. For now, the market remains content to just chop sideway and, at the moment, is failing to gather momentum to break the previous overhead resistance:
Figure 4:BTC-USD, 4-Hour Candles, Resistance Test Rejection
Until the market is able to crack the overhead resistance, the next likely move would be a test of the current support level, which is likely to fail given the current, overall lack of bullish enthusiasm. The narrative could change shortly, but for now it’s “Chop City” until we can break the overhead resistance levels.
1. Bitcoin has dropped 50% in one month.
2. It continues to test previous support levels but has failed respect the prior levels.
3. We are currently experiencing a breakout of a massive bear pennant that has a price target of $1700. If the current level fails to hold, the next move would likely be a strong move to the downside as we continue to test deeper and deeper support.
Trading and investing in digital assets like bitcoin and ether is highly speculative and comes with many risks. This analysis is for informational purposes and should not be considered investment advice. Statements and financial information on Bitcoin Magazine and BTC Media related sites do not necessarily reflect the opinion of BTC Media and should not be construed as an endorsement or recommendation to buy, sell or hold. Past performance is not necessarily indicative of future results.
This article originally appeared onBitcoin Magazine. || Bitcoin Price Analysis: Bear Pennant Breakout Puts $1,700 Price in Sight: Another week, another low. Bitcoin’s market has been bleeding relentlessly for weeks and now, after falling 50% in value in just one month, the market has managed to break south of a major bearish consolidation pattern called a bear pennant:
Figure 1:BTC-USD, 4-Hour Candles, Bear Pennant Breakout
This is a massive bear pennant with a staggering $2,000 measured move. In layman's terms: The price target for this breakout would be approximately $1,700, after all is said and done. Now, it’s important to note this is just a projection and it isn’t a guaranteed trajectory, but this setup should not be underestimated. However, if we look at a macro view of bitcoin price levels, the $1,700 price range is confluent with a strong support level:
Figure 2:BTC-USD, Daily Candles, Price Target
As mentioned inprevious market analyses, bitcoin has begun to march down all its previous untested support levels, one by one. As each support level proved to be unsustainable, the market has decided to test lower and lower throughout the current downtrend with very little relief for the eager bulls:
Figure 3:BTC-USD, Daily Candles, Previous Support Levels
Figure 3 shows all the previous support levels and how they have also coincided with the previous shakeout periods during the parabolic run-up last year. Although we have yet to test new lows this week, something that is slightly concerning is the general lack of volume on these drops. While this can be a sign of temporary bearish weakness (or lack of supply), overall, this likely doesn’t bode well, as it hasn’t represented capitulatory volume — something that would be a clear sign that buyers are interested at these levels. For now, the market remains content to just chop sideway and, at the moment, is failing to gather momentum to break the previous overhead resistance:
Figure 4:BTC-USD, 4-Hour Candles, Resistance Test Rejection
Until the market is able to crack the overhead resistance, the next likely move would be a test of the current support level, which is likely to fail given the current, overall lack of bullish enthusiasm. The narrative could change shortly, but for now it’s “Chop City” until we can break the overhead resistance levels.
1. Bitcoin has dropped 50% in one month.
2. It continues to test previous support levels but has failed respect the prior levels.
3. We are currently experiencing a breakout of a massive bear pennant that has a price target of $1700. If the current level fails to hold, the next move would likely be a strong move to the downside as we continue to test deeper and deeper support.
Trading and investing in digital assets like bitcoin and ether is highly speculative and comes with many risks. This analysis is for informational purposes and should not be considered investment advice. Statements and financial information on Bitcoin Magazine and BTC Media related sites do not necessarily reflect the opinion of BTC Media and should not be construed as an endorsement or recommendation to buy, sell or hold. Past performance is not necessarily indicative of future results.
This article originally appeared onBitcoin Magazine. || Bitcoin Price Analysis: Bear Pennant Breakout Puts $1,700 Price in Sight: Bitcoin Price Analysis Another week, another low. Bitcoins market has been bleeding relentlessly for weeks and now, after falling 50% in value in just one month, the market has managed to break south of a major bearish consolidation pattern called a bear pennant: fig1 Figure 1: BTC-USD , 4-Hour Candles, Bear Pennant Breakout This is a massive bear pennant with a staggering $2,000 measured move. In layman's terms: The price target for this breakout would be approximately $1,700, after all is said and done. Now, its important to note this is just a projection and it isnt a guaranteed trajectory, but this setup should not be underestimated. However, if we look at a macro view of bitcoin price levels, the $1,700 price range is confluent with a strong support level: fig2 Figure 2: BTC-USD , Daily Candles, Price Target As mentioned in previous market analyses , bitcoin has begun to march down all its previous untested support levels, one by one. As each support level proved to be unsustainable, the market has decided to test lower and lower throughout the current downtrend with very little relief for the eager bulls: fig3 Figure 3: BTC-USD , Daily Candles, Previous Support Levels Figure 3 shows all the previous support levels and how they have also coincided with the previous shakeout periods during the parabolic run-up last year. Although we have yet to test new lows this week, something that is slightly concerning is the general lack of volume on these drops. While this can be a sign of temporary bearish weakness (or lack of supply), overall, this likely doesnt bode well, as it hasnt represented capitulatory volume something that would be a clear sign that buyers are interested at these levels. For now, the market remains content to just chop sideway and, at the moment, is failing to gather momentum to break the previous overhead resistance: fig4 Figure 4: BTC-USD , 4-Hour Candles, Resistance Test Rejection Until the market is able to crack the overhead resistance, the next likely move would be a test of the current support level, which is likely to fail given the current, overall lack of bullish enthusiasm. The narrative could change shortly, but for now its Chop City until we can break the overhead resistance levels. Story continues Summary: Bitcoin has dropped 50% in one month. It continues to test previous support levels but has failed respect the prior levels. We are currently experiencing a breakout of a massive bear pennant that has a price target of $1700. If the current level fails to hold, the next move would likely be a strong move to the downside as we continue to test deeper and deeper support. Trading and investing in digital assets like bitcoin and ether is highly speculative and comes with many risks. This analysis is for informational purposes and should not be considered investment advice. Statements and financial information on Bitcoin Magazine and BTC Media related sites do not necessarily reflect the opinion of BTC Media and should not be construed as an endorsement or recommendation to buy, sell or hold. Past performance is not necessarily indicative of future results. This article originally appeared on Bitcoin Magazine . || Bullion Giant APMEX Partners with BitPay to Let Investors Buy Gold with Bitcoin: Global crypto payment provider BitPay has announced the OneGold precious metals and digital gold marketplace is now accepting Bitcoin and Bitcoin Cash, according to a press release.
OneGold — founded by APMEX, a leading precious metals retailer, and Sprott, an alternative asset manager — is focused on giving investors the ability to combine the “key benefits of physical gold and silver with those of blockchain-based digital assets.”
OneGold CEO Ken Lewis indicated that addingBitcoinandBitcoin Cashto the payment roster boosts “transparency and efficiency.”
He projected that the added options would lead to a positive response from “a large number of cryptocurrency buyers from international markets, where accepting credit cards is not always practical.”
In the press release,BitPayChief Commercial Officer Sonny Singh said that cryptocurrency is “an ideal payment method for e-commerce and precious metals” due to risks of fraud and identity theft related to the use of credit cards. Chargebacks, he noted, cost merchants nearly $19 billion last year.
Cryptocurrency is touted by some as a solution to these types of issues since each transaction is recorded and stored on theblockchainwith a lack of sensitive information.
In March 2016, JM Bullionsaidcustomers could use Bitcoin to purchase gold and silver through BitPay. The bullion company indicated at the time they would give a four percent discount to those who used the cryptocurrency for payment.
OneGold maintains the ability to take fiat or cryptocurrency, or any combination of the two, as payment. The company is also protected from Bitcoin price swings through BitPay.
All digital precious metals available through OneGold are allocated to physical precious metals held inside of the Royal Canadian Mint.
The recent announcement by BitPay follows in the footsteps of a few other notable activities by the company over the last few weeks.
About a month ago, BitPayindicatedthey were backing the Bitcoin Cash ABC side in regards to the recent BCH hard fork. The decision meant BitPay joined alongside industry leaders like Coinbase and Binance in support of the ABC side.
Later in November, COO Sonny Singhexpressed optimismthat 2019 would be a good year for the cryptocurrency market in an interview on Bloomberg TV. He conveyed a belief that the crypto market would start to turn a corner during the first half of next year as big companies like Fidelity started to release cryptocurrency products.
He also speculated that an approval of the first Bitcoin ETF, if it were to happen, would lead to a sharp rise in theBitcoin priceheading into the latter part of 2019.
Images from Shutterstock
The postBullion Giant APMEX Partners with BitPay to Let Investors Buy Gold with Bitcoinappeared first onCCN. || Bullion Giant APMEX Partners with BitPay to Let Investors Buy Gold with Bitcoin: gold bitcoin apmex cryptocurrency crypto Global crypto payment provider BitPay has announced the OneGold precious metals and digital gold marketplace is now accepting Bitcoin and Bitcoin Cash, according to a press release. OneGold — founded by APMEX, a leading precious metals retailer, and Sprott, an alternative asset manager — is focused on giving investors the ability to combine the “key benefits of physical gold and silver with those of blockchain-based digital assets.” OneGold CEO Ken Lewis indicated that adding Bitcoin and Bitcoin Cash to the payment roster boosts “transparency and efficiency.” He projected that the added options would lead to a positive response from “a large number of cryptocurrency buyers from international markets, where accepting credit cards is not always practical.” Fostering Transparency And Payment Security In the press release, BitPay Chief Commercial Officer Sonny Singh said that cryptocurrency is “an ideal payment method for e-commerce and precious metals” due to risks of fraud and identity theft related to the use of credit cards. Chargebacks, he noted, cost merchants nearly $19 billion last year. Cryptocurrency is touted by some as a solution to these types of issues since each transaction is recorded and stored on the blockchain with a lack of sensitive information. In March 2016, JM Bullion said customers could use Bitcoin to purchase gold and silver through BitPay. The bullion company indicated at the time they would give a four percent discount to those who used the cryptocurrency for payment. OneGold maintains the ability to take fiat or cryptocurrency, or any combination of the two, as payment. The company is also protected from Bitcoin price swings through BitPay. All digital precious metals available through OneGold are allocated to physical precious metals held inside of the Royal Canadian Mint. BitPay Positions Itself For The Future bitpay cryptocurrency bitcoin crypto The recent announcement by BitPay follows in the footsteps of a few other notable activities by the company over the last few weeks. Story continues About a month ago, BitPay indicated they were backing the Bitcoin Cash ABC side in regards to the recent BCH hard fork. The decision meant BitPay joined alongside industry leaders like Coinbase and Binance in support of the ABC side. Later in November, COO Sonny Singh expressed optimism that 2019 would be a good year for the cryptocurrency market in an interview on Bloomberg TV. He conveyed a belief that the crypto market would start to turn a corner during the first half of next year as big companies like Fidelity started to release cryptocurrency products. He also speculated that an approval of the first Bitcoin ETF, if it were to happen, would lead to a sharp rise in the Bitcoin price heading into the latter part of 2019. Images from Shutterstock The post Bullion Giant APMEX Partners with BitPay to Let Investors Buy Gold with Bitcoin appeared first on CCN . || Bullion Giant APMEX Partners with BitPay to Let Investors Buy Gold with Bitcoin: Global crypto payment provider BitPay has announced the OneGold precious metals and digital gold marketplace is now accepting Bitcoin and Bitcoin Cash, according to a press release.
OneGold — founded by APMEX, a leading precious metals retailer, and Sprott, an alternative asset manager — is focused on giving investors the ability to combine the “key benefits of physical gold and silver with those of blockchain-based digital assets.”
OneGold CEO Ken Lewis indicated that addingBitcoinandBitcoin Cashto the payment roster boosts “transparency and efficiency.”
He projected that the added options would lead to a positive response from “a large number of cryptocurrency buyers from international markets, where accepting credit cards is not always practical.”
In the press release,BitPayChief Commercial Officer Sonny Singh said that cryptocurrency is “an ideal payment method for e-commerce and precious metals” due to risks of fraud and identity theft related to the use of credit cards. Chargebacks, he noted, cost merchants nearly $19 billion last year.
Cryptocurrency is touted by some as a solution to these types of issues since each transaction is recorded and stored on theblockchainwith a lack of sensitive information.
In March 2016, JM Bullionsaidcustomers could use Bitcoin to purchase gold and silver through BitPay. The bullion company indicated at the time they would give a four percent discount to those who used the cryptocurrency for payment.
OneGold maintains the ability to take fiat or cryptocurrency, or any combination of the two, as payment. The company is also protected from Bitcoin price swings through BitPay.
All digital precious metals available through OneGold are allocated to physical precious metals held inside of the Royal Canadian Mint.
The recent announcement by BitPay follows in the footsteps of a few other notable activities by the company over the last few weeks.
About a month ago, BitPayindicatedthey were backing the Bitcoin Cash ABC side in regards to the recent BCH hard fork. The decision meant BitPay joined alongside industry leaders like Coinbase and Binance in support of the ABC side.
Later in November, COO Sonny Singhexpressed optimismthat 2019 would be a good year for the cryptocurrency market in an interview on Bloomberg TV. He conveyed a belief that the crypto market would start to turn a corner during the first half of next year as big companies like Fidelity started to release cryptocurrency products.
He also speculated that an approval of the first Bitcoin ETF, if it were to happen, would lead to a sharp rise in theBitcoin priceheading into the latter part of 2019.
Images from Shutterstock
The postBullion Giant APMEX Partners with BitPay to Let Investors Buy Gold with Bitcoinappeared first onCCN. || Coinbase Might Be Behind Those 856,000 BTC Worth of Transactions: Last week,it was reportedthat a Bitcoin whale had moved thousands of bitcoin into different wallet addresses. Between December 1 to December 6, 2018, the whale split 856,000 bitcoin between 107 wallets, sending an equal 8,000 BTC into each wallet.
Speculators have formulated different hypotheses since the monstrous sum was moved. Was it a market whale moving funds to Over-the-Counter (OTC) markets? Could the sender be the Foundation for Economic Education (Fee.org)? (This second theory is highly improbable as thelisted addresson the organization’s website revealsit has only ever receiveda total of 2.2 BTC.)
According to a reportpublished on 8BTC, it’s likely the “whale” was merely Coinbase conducting routine maintenance on its infrastructure. 8BTC’s hypothesis is based on a Coinbase announcement that mentioned the exchange was going to make "monitored movements" two days prior to the transactions being made.
U.S digital asset platform Coinbase had announced ascheduled maintenanceon November 29, 2018.
"Over the next seven days, Coinbase will be running scheduled maintenance across our platform that may cause movements on all Coinbase-supported blockchains. These are controlled, closely monitored movements that are being performed in order to provide enhanced security and protection for our customers."
The commotion surrounding these coin movements began on December 4, 2018, when 66,452 BTC wastransferred from a wallet addressthat had not sent funds since 2014. The funds were then distributed evenly across 100 wallet addresses.
Once that transfer was complete, a new transaction of 66,379 BTC was transferred from another whale address and distributed equally between 101 wallet addresses. A few days after this, another transaction was initiated, followed by another round of distributing the bitcoin into different wallet addresses. This time, 8,000 BTC was transferred into 107 addresses for a total of 856,000 BTC: a total that accounts for over 5 percent of the total bitcoins in circulation.
The report also suggests that the exchange might have used the SegWit “bc1” addresses to chop off the transactional costs while splitting the funds, which is a standard security protocol used to hedge risk and protect funds from a single point of failure.
Large sums of ether, ripple and bitcoin cash (BCH) have been moved in the last 30 days, as well, though there is no indication thus far that these transfers are related. In one instance, a day before BCH hard forked on December 5, 2018, a wallet addresstransferredover 1 million BCH ($300 million) to another address. Six days ago,100,271 BCH, worth over $14 million, was moved.
This article originally appeared onBitcoin Magazine. || Coinbase Might Be Behind Those 856,000 BTC Worth of Transactions: Last week,it was reportedthat a Bitcoin whale had moved thousands of bitcoin into different wallet addresses. Between December 1 to December 6, 2018, the whale split 856,000 bitcoin between 107 wallets, sending an equal 8,000 BTC into each wallet.
Speculators have formulated different hypotheses since the monstrous sum was moved. Was it a market whale moving funds to Over-the-Counter (OTC) markets? Could the sender be the Foundation for Economic Education (Fee.org)? (This second theory is highly improbable as thelisted addresson the organization’s website revealsit has only ever receiveda total of 2.2 BTC.)
According to a reportpublished on 8BTC, it’s likely the “whale” was merely Coinbase conducting routine maintenance on its infrastructure. 8BTC’s hypothesis is based on a Coinbase announcement that mentioned the exchange was going to make "monitored movements" two days prior to the transactions being made.
U.S digital asset platform Coinbase had announced ascheduled maintenanceon November 29, 2018.
"Over the next seven days, Coinbase will be running scheduled maintenance across our platform that may cause movements on all Coinbase-supported blockchains. These are controlled, closely monitored movements that are being performed in order to provide enhanced security and protection for our customers."
The commotion surrounding these coin movements began on December 4, 2018, when 66,452 BTC wastransferred from a wallet addressthat had not sent funds since 2014. The funds were then distributed evenly across 100 wallet addresses.
Once that transfer was complete, a new transaction of 66,379 BTC was transferred from another whale address and distributed equally between 101 wallet addresses. A few days after this, another transaction was initiated, followed by another round of distributing the bitcoin into different wallet addresses. This time, 8,000 BTC was transferred into 107 addresses for a total of 856,000 BTC: a total that accounts for over 5 percent of the total bitcoins in circulation.
The report also suggests that the exchange might have used the SegWit “bc1” addresses to chop off the transactional costs while splitting the funds, which is a standard security protocol used to hedge risk and protect funds from a single point of failure.
Large sums of ether, ripple and bitcoin cash (BCH) have been moved in the last 30 days, as well, though there is no indication thus far that these transfers are related. In one instance, a day before BCH hard forked on December 5, 2018, a wallet addresstransferredover 1 million BCH ($300 million) to another address. Six days ago,100,271 BCH, worth over $14 million, was moved.
This article originally appeared onBitcoin Magazine. || Coinbase Might Be Behind Those 856,000 BTC Worth of Transactions: Coinbase Might Be Behind Those 856,000 BTC Worth of Transactions Last week, it was reported that a Bitcoin whale had moved thousands of bitcoin into different wallet addresses. Between December 1 to December 6, 2018, the whale split 856,000 bitcoin between 107 wallets, sending an equal 8,000 BTC into each wallet. Speculators have formulated different hypotheses since the monstrous sum was moved. Was it a market whale moving funds to Over-the-Counter (OTC) markets? Could the sender be the Foundation for Economic Education (Fee.org)? (This second theory is highly improbable as the listed address on the organization’s website reveals it has only ever received a total of 2.2 BTC.) According to a report published on 8BTC , it’s likely the “whale” was merely Coinbase conducting routine maintenance on its infrastructure. 8BTC’s hypothesis is based on a Coinbase announcement that mentioned the exchange was going to make "monitored movements" two days prior to the transactions being made. U.S digital asset platform Coinbase had announced a scheduled maintenance on November 29, 2018. "Over the next seven days, Coinbase will be running scheduled maintenance across our platform that may cause movements on all Coinbase-supported blockchains. These are controlled, closely monitored movements that are being performed in order to provide enhanced security and protection for our customers." Inactive Address The commotion surrounding these coin movements began on December 4, 2018, when 66,452 BTC was transferred from a wallet address that had not sent funds since 2014. The funds were then distributed evenly across 100 wallet addresses. Once that transfer was complete, a new transaction of 66,379 BTC was transferred from another whale address and distributed equally between 101 wallet addresses. A few days after this, another transaction was initiated, followed by another round of distributing the bitcoin into different wallet addresses. This time, 8,000 BTC was transferred into 107 addresses for a total of 856,000 BTC: a total that accounts for over 5 percent of the total bitcoins in circulation. Story continues The report also suggests that the exchange might have used the SegWit “bc1” addresses to chop off the transactional costs while splitting the funds, which is a standard security protocol used to hedge risk and protect funds from a single point of failure. Other Big Moves Large sums of ether, ripple and bitcoin cash (BCH) have been moved in the last 30 days, as well, though there is no indication thus far that these transfers are related. In one instance, a day before BCH hard forked on December 5, 2018, a wallet address transferred over 1 million BCH ($300 million) to another address. Six days ago, 100,271 BCH , worth over $14 million, was moved. This article originally appeared on Bitcoin Magazine . || Crypto Holiday Guide: Gifts for Every Bitcoiner on Your Shopping List: The holiday season is here. And even if crypto prices are on the coal heap, you can still have fun spreading some holiday bitcoin cheer.
For the bitcoiners in your life, this could mean a crypto-related gift as a token of solidarity. After all, what better way to commiserate with fellow HODLers than decking their holiday halls with bitcoin-themed gifts? What better way to say “we’re in it for the long haul” than with a hardware wallet? Or “I’ve got your back — literally” than with a bitcoin t-shirt?
From wallets to node-hosting hardware to general swag, here’s a list of some of our favorite gifts for bitcoiners of all kinds — from newbies to early adopters, moon shooters to techies, and everyone in between.
Of course, one of the best gifts you can give is bitcoin itself. Maybe take some time and walk a friend through the process of setting up a wallet and then send them their first satoshis.
If you want to wrap up a bitcoin gift, consider putting some funds on an Opendime stick. Opendime is a single-use, disposable bitcoin hardware wallet. This USB wallet functions sort of like a gift card that you can load with bitcoin using your existing wallet — then you pass it on to someone else. The private keys are generated in the wallet itself and are never revealed to anyone, not even to the person who loads the wallet with funds. Using the public key, the recipient of the Opendime can still read how much is in the wallet by inserting the USB into a computer — they just can’t spend the funds until they break the seal and transfer the funds out of the wallet using the hidden private key. Once the seal is broken and the funds are removed, the wallet is rendered inoperable.
These walletsare available for purchasein packs of three. At $40 for a pack, it’s an inexpensive, secure and easy way to give someone bitcoin, be it a large or small amount.
A must-have for any enthusiast who has invested more than pocket change, hardware wallets are a prime item to give, even more so if the recipient is a newcomer.
There are a number of options to choose from, and which wallet works best depends on the individual. The Trezor and Ledger hardware wallets are perhaps the most vetted, most widely recognized and longest-standing options out there. They support bitcoin, most major altcoins and Ethereum tokens built on the ERC-20 technical standard (not natively but in conjunction with ERC-20 compatible wallets like MyEtherWallet), so they can work for investors with diverse holdings.
Ledger’s hardware wallets, the Ledger Blue and Ledger Nano S, cost $200 and $70, respectively, but Ledger is running a December sale on the two items for 30 percent off.Trezor’s line, which includes the Trezor One and Trezor Model T, go for roughly $94 and $204, respectively.
A word of caution:There are somefraudulent vendorsout there, so be sure to purchase hardware wallets directly from the company or via an authorized third-party site as recommended by Trezor or Ledger. Never buy one second-hand.
Have a friend or relative who’s new to the space and needs some primers? Luckily for you, there’s plenty of quality literature on the subject.
Few works have made as much of an educational impact as Andreas Antonopoulos’series of informational texts. HisThe Internet of Money, Vol. 1 & 2are formative books for novice and long-standing bitcoin enthusiasts alike. While these two books present a more holistic rundown of the crypto industry — from how a blockchain functions to the ramifications of decentralized currency — hisMastering Bitcoinis a more in-depth technical guide on Bitcoin specifically.Mastering Bitcoincomes in either digital or paperback, for $16 or $22, respectively,The Internet of Money, Vol. 1 & 2can both be purchased for either $6 or $12, yet again depending on whether the format is digital or paperback.
If you’re looking for a less technical primer on Bitcoin specifically, Saifedean Ammous’The Bitcoin Standard($13-18) was released this year, and reviews Bitcoin’s nearly 10-year history, its impact and what bitcoin’s disruptive potential could mean for modern finance.
For other informational primers, the household name For Dummies series, naturally, has aBitcoin for Dummies($8.00) andBlockchain for Dummies($18.00) because nothing will make you feel quite as dumb as your first attempt to figure out what a merkle root is, how transactions are ordered in blocks or how all of this new-wave fintech works anyhow.
Released in September 2019, the Casa Lightning Node is the joint work of Lightning Ramp and Casa, two crypto development companies who have been channeling their energy into developing more usable and secure Lightning Network products.
The node combines the UI-friendliness of Lightning Ramp’s software with the security strength of Casa’s multisignature private key management. Unlike bootstrapping a Lightning Network node from scratch, the Casa Lightning Node has a low barrier to entry. It comes pre-synced with the Bitcoin blockchain and requires no coding experience to set up, and its dashboard makes managing the node and its related payment channels easy for less tech-savvy users.
Interested? You can purchase a node for $300 onCasa’s websiteor itsOpenBazaar store.
Ever wish you could bring your Crypto Kitties to life? Well, you can’t actually animate the pixelated felines out of their digital confines. But, if you’re looking for a physical alternative to illustrate to your friends and loved ones in real life that you bleed bitcoin, you’ve got at least one other option.
CryptoKaijuis a toy company created by Oliver Carding, the founder of crypto news site CoinJournal. Carding’s newest venture features a line of vinyl, crypto-themed toys, all of which come with their own ERC-721, non-fungible token, which keeps tabs on each toy’s unique set of traits (not unlike their computerized predecessors in Crypto Kitties).
At the time of writing, the company’s $55 flagship Kaiju, playfully named Genesis after Bitcoin’s genesis block,is nearly sold out(the initial rollout being limited to 130 toys). But if they’re sold out by the time you want to pull the trigger, don’t worry! The line will have more Kaiju in the future, and it also offers 6– or 12-month subscription packages that will deliver a new toy each month to its recipient (prices vary from $155-600 depending on the subscription package).
CryptoKaiju’s online shop can be foundhere.
When in doubt, stick to the basics.
There’s no exhaustive list of online stores that carry Bitcoin-related garb and other various trinkets.All Things Decentral,BitcoinShirtsandBitgearall feature a variety of shirts, sweaters, mugs and other items for you to choose from.RedbubbleandEtsyalso list swag from a wide range of merchants and independent artists.
Blockstream’sofficial storehas its fair share of Bitcoin regalia too, complete with stickers and earrings (and to make you feel extra cool, you can even pay with Lightning).
This article originally appeared onBitcoin Magazine. || Crypto Holiday Guide: Gifts for Every Bitcoiner on Your Shopping List: Crypto Holiday Guide: Gifts for Every Bitcoiner on Your Shopping List The holiday season is here. And even if crypto prices are on the coal heap, you can still have fun spreading some holiday bitcoin cheer. For the bitcoiners in your life, this could mean a crypto-related gift as a token of solidarity. After all, what better way to commiserate with fellow HODLers than decking their holiday halls with bitcoin-themed gifts? What better way to say “we’re in it for the long haul” than with a hardware wallet? Or “I’ve got your back — literally” than with a bitcoin t-shirt? From wallets to node-hosting hardware to general swag, here’s a list of some of our favorite gifts for bitcoiners of all kinds — from newbies to early adopters, moon shooters to techies, and everyone in between. Give Bitcoin Of course, one of the best gifts you can give is bitcoin itself. Maybe take some time and walk a friend through the process of setting up a wallet and then send them their first satoshis. If you want to wrap up a bitcoin gift, consider putting some funds on an Opendime stick. Opendime is a single-use, disposable bitcoin hardware wallet. This USB wallet functions sort of like a gift card that you can load with bitcoin using your existing wallet — then you pass it on to someone else. The private keys are generated in the wallet itself and are never revealed to anyone, not even to the person who loads the wallet with funds. Using the public key, the recipient of the Opendime can still read how much is in the wallet by inserting the USB into a computer — they just can’t spend the funds until they break the seal and transfer the funds out of the wallet using the hidden private key. Once the seal is broken and the funds are removed, the wallet is rendered inoperable. These wallets are available for purchase in packs of three. At $40 for a pack, it’s an inexpensive, secure and easy way to give someone bitcoin, be it a large or small amount. Hardware Wallets A must-have for any enthusiast who has invested more than pocket change, hardware wallets are a prime item to give, even more so if the recipient is a newcomer. Story continues There are a number of options to choose from, and which wallet works best depends on the individual. The Trezor and Ledger hardware wallets are perhaps the most vetted, most widely recognized and longest-standing options out there. They support bitcoin, most major altcoins and Ethereum tokens built on the ERC-20 technical standard (not natively but in conjunction with ERC-20 compatible wallets like MyEtherWallet), so they can work for investors with diverse holdings. Ledger’s hardware wallets , the Ledger Blue and Ledger Nano S, cost $200 and $70, respectively, but Ledger is running a December sale on the two items for 30 percent off. Trezor’s line , which includes the Trezor One and Trezor Model T, go for roughly $94 and $204, respectively. A word of caution: There are some fraudulent vendors out there, so be sure to purchase hardware wallets directly from the company or via an authorized third-party site as recommended by Trezor or Ledger. Never buy one second-hand. Words, Words, Words Have a friend or relative who’s new to the space and needs some primers? Luckily for you, there’s plenty of quality literature on the subject. Few works have made as much of an educational impact as Andreas Antonopoulos’ series of informational texts . His The Internet of Money, Vol. 1 & 2 are formative books for novice and long-standing bitcoin enthusiasts alike. While these two books present a more holistic rundown of the crypto industry — from how a blockchain functions to the ramifications of decentralized currency — his Mastering Bitcoin is a more in-depth technical guide on Bitcoin specifically. Mastering Bitcoin comes in either digital or paperback, for $16 or $22, respectively, The Internet of Money, Vol. 1 & 2 can both be purchased for either $6 or $12, yet again depending on whether the format is digital or paperback. If you’re looking for a less technical primer on Bitcoin specifically, Saifedean Ammous’ The Bitcoin Standard ($13-18) was released this year, and reviews Bitcoin’s nearly 10-year history, its impact and what bitcoin’s disruptive potential could mean for modern finance. For other informational primers, the household name For Dummies series, naturally, has a Bitcoin for Dummies ($8.00) and Blockchain for Dummies ($18.00) because nothing will make you feel quite as dumb as your first attempt to figure out what a merkle root is, how transactions are ordered in blocks or how all of this new-wave fintech works anyhow. Casa Lightning Node Released in September 2019, the Casa Lightning Node is the joint work of Lightning Ramp and Casa, two crypto development companies who have been channeling their energy into developing more usable and secure Lightning Network products. The node combines the UI-friendliness of Lightning Ramp’s software with the security strength of Casa’s multisignature private key management. Unlike bootstrapping a Lightning Network node from scratch, the Casa Lightning Node has a low barrier to entry. It comes pre-synced with the Bitcoin blockchain and requires no coding experience to set up, and its dashboard makes managing the node and its related payment channels easy for less tech-savvy users. Interested? You can purchase a node for $300 on Casa’s website or its OpenBazaar store . CryptoKaiju Ever wish you could bring your Crypto Kitties to life? Well, you can’t actually animate the pixelated felines out of their digital confines. But, if you’re looking for a physical alternative to illustrate to your friends and loved ones in real life that you bleed bitcoin, you’ve got at least one other option. CryptoKaiju is a toy company created by Oliver Carding, the founder of crypto news site CoinJournal. Carding’s newest venture features a line of vinyl, crypto-themed toys, all of which come with their own ERC-721, non-fungible token, which keeps tabs on each toy’s unique set of traits (not unlike their computerized predecessors in Crypto Kitties). At the time of writing, the company’s $55 flagship Kaiju, playfully named Genesis after Bitcoin’s genesis block, is nearly sold out (the initial rollout being limited to 130 toys). But if they’re sold out by the time you want to pull the trigger, don’t worry! The line will have more Kaiju in the future, and it also offers 6– or 12-month subscription packages that will deliver a new toy each month to its recipient (prices vary from $155-600 depending on the subscription package). CryptoKaiju’s online shop can be found here . T-Shirts, Stickers and Other Swag When in doubt, stick to the basics. There’s no exhaustive list of online stores that carry Bitcoin-related garb and other various trinkets. All Things Decentral , BitcoinShirts and Bitgear all feature a variety of shirts, sweaters, mugs and other items for you to choose from. Redbubble and Etsy also list swag from a wide range of merchants and independent artists. Blockstream’s official store has its fair share of Bitcoin regalia too, complete with stickers and earrings (and to make you feel extra cool, you can even pay with Lightning). This article originally appeared on Bitcoin Magazine . || Crypto Holiday Guide: Gifts for Every Bitcoiner on Your Shopping List: The holiday season is here. And even if crypto prices are on the coal heap, you can still have fun spreading some holiday bitcoin cheer.
For the bitcoiners in your life, this could mean a crypto-related gift as a token of solidarity. After all, what better way to commiserate with fellow HODLers than decking their holiday halls with bitcoin-themed gifts? What better way to say “we’re in it for the long haul” than with a hardware wallet? Or “I’ve got your back — literally” than with a bitcoin t-shirt?
From wallets to node-hosting hardware to general swag, here’s a list of some of our favorite gifts for bitcoiners of all kinds — from newbies to early adopters, moon shooters to techies, and everyone in between.
Of course, one of the best gifts you can give is bitcoin itself. Maybe take some time and walk a friend through the process of setting up a wallet and then send them their first satoshis.
If you want to wrap up a bitcoin gift, consider putting some funds on an Opendime stick. Opendime is a single-use, disposable bitcoin hardware wallet. This USB wallet functions sort of like a gift card that you can load with bitcoin using your existing wallet — then you pass it on to someone else. The private keys are generated in the wallet itself and are never revealed to anyone, not even to the person who loads the wallet with funds. Using the public key, the recipient of the Opendime can still read how much is in the wallet by inserting the USB into a computer — they just can’t spend the funds until they break the seal and transfer the funds out of the wallet using the hidden private key. Once the seal is broken and the funds are removed, the wallet is rendered inoperable.
These walletsare available for purchasein packs of three. At $40 for a pack, it’s an inexpensive, secure and easy way to give someone bitcoin, be it a large or small amount.
A must-have for any enthusiast who has invested more than pocket change, hardware wallets are a prime item to give, even more so if the recipient is a newcomer.
There are a number of options to choose from, and which wallet works best depends on the individual. The Trezor and Ledger hardware wallets are perhaps the most vetted, most widely recognized and longest-standing options out there. They support bitcoin, most major altcoins and Ethereum tokens built on the ERC-20 technical standard (not natively but in conjunction with ERC-20 compatible wallets like MyEtherWallet), so they can work for investors with diverse holdings.
Ledger’s hardware wallets, the Ledger Blue and Ledger Nano S, cost $200 and $70, respectively, but Ledger is running a December sale on the two items for 30 percent off.Trezor’s line, which includes the Trezor One and Trezor Model T, go for roughly $94 and $204, respectively.
A word of caution:There are somefraudulent vendorsout there, so be sure to purchase hardware wallets directly from the company or via an authorized third-party site as recommended by Trezor or Ledger. Never buy one second-hand.
Have a friend or relative who’s new to the space and needs some primers? Luckily for you, there’s plenty of quality literature on the subject.
Few works have made as much of an educational impact as Andreas Antonopoulos’series of informational texts. HisThe Internet of Money, Vol. 1 & 2are formative books for novice and long-standing bitcoin enthusiasts alike. While these two books present a more holistic rundown of the crypto industry — from how a blockchain functions to the ramifications of decentralized currency — hisMastering Bitcoinis a more in-depth technical guide on Bitcoin specifically.Mastering Bitcoincomes in either digital or paperback, for $16 or $22, respectively,The Internet of Money, Vol. 1 & 2can both be purchased for either $6 or $12, yet again depending on whether the format is digital or paperback.
If you’re looking for a less technical primer on Bitcoin specifically, Saifedean Ammous’The Bitcoin Standard($13-18) was released this year, and reviews Bitcoin’s nearly 10-year history, its impact and what bitcoin’s disruptive potential could mean for modern finance.
For other informational primers, the household name For Dummies series, naturally, has aBitcoin for Dummies($8.00) andBlockchain for Dummies($18.00) because nothing will make you feel quite as dumb as your first attempt to figure out what a merkle root is, how transactions are ordered in blocks or how all of this new-wave fintech works anyhow.
Released in September 2019, the Casa Lightning Node is the joint work of Lightning Ramp and Casa, two crypto development companies who have been channeling their energy into developing more usable and secure Lightning Network products.
The node combines the UI-friendliness of Lightning Ramp’s software with the security strength of Casa’s multisignature private key management. Unlike bootstrapping a Lightning Network node from scratch, the Casa Lightning Node has a low barrier to entry. It comes pre-synced with the Bitcoin blockchain and requires no coding experience to set up, and its dashboard makes managing the node and its related payment channels easy for less tech-savvy users.
Interested? You can purchase a node for $300 onCasa’s websiteor itsOpenBazaar store.
Ever wish you could bring your Crypto Kitties to life? Well, you can’t actually animate the pixelated felines out of their digital confines. But, if you’re looking for a physical alternative to illustrate to your friends and loved ones in real life that you bleed bitcoin, you’ve got at least one other option.
CryptoKaijuis a toy company created by Oliver Carding, the founder of crypto news site CoinJournal. Carding’s newest venture features a line of vinyl, crypto-themed toys, all of which come with their own ERC-721, non-fungible token, which keeps tabs on each toy’s unique set of traits (not unlike their computerized predecessors in Crypto Kitties).
At the time of writing, the company’s $55 flagship Kaiju, playfully named Genesis after Bitcoin’s genesis block,is nearly sold out(the initial rollout being limited to 130 toys). But if they’re sold out by the time you want to pull the trigger, don’t worry! The line will have more Kaiju in the future, and it also offers 6– or 12-month subscription packages that will deliver a new toy each month to its recipient (prices vary from $155-600 depending on the subscription package).
CryptoKaiju’s online shop can be foundhere.
When in doubt, stick to the basics.
There’s no exhaustive list of online stores that carry Bitcoin-related garb and other various trinkets.All Things Decentral,BitcoinShirtsandBitgearall feature a variety of shirts, sweaters, mugs and other items for you to choose from.RedbubbleandEtsyalso list swag from a wide range of merchants and independent artists.
Blockstream’sofficial storehas its fair share of Bitcoin regalia too, complete with stickers and earrings (and to make you feel extra cool, you can even pay with Lightning).
This article originally appeared onBitcoin Magazine. || ‘Revolutions Don’t Happen Overnight’: Why Mike Novogratz isn’t Giving up on Bitcoin: mike novogratz crypto bitcoin cryptocurrency galaxy digital Bitcoin bull Mike Novogratz — the CEO of cryptocurrency merchant bank Galaxy Digital — is unfazed by the recent bear market, saying bitcoin is “digital gold” that will survive and thrive over the long haul. Novogratz admitted that he lost money during the 2018 slump due to bad market calls , but that doesn’t dampen his long-term outlook that crypto is a revolution whose time has come. As CCN reported, Galaxy Digital lost $136 million during the first nine months of 2018 due to losing positions in Ether, XRP, and Bitcoin during a relentless down market. Despite this, Novogratz remains as bullish as ever about crypto, especially BTC. ‘Digital Gold’ “I do believe Bitcoin is going to be digital gold,” Novogratz told Bloomberg . “That means it’s the only one of the coins out there that gets to be a legal pyramid scheme — just like gold is.” Novogratz said bitcoin and gold are similar because of their finite supplies. “All the gold ever mined in the history of the world fits in an Olympic-size swimming pool,” he said. “You’re out of your mind to think that pool’s worth $8 trillion. But it is because we say it is.” Novogratz said naysayers who are basking in schadenfreude over the current market downturn should realize that mass adoption of a new currency takes time. And early setbacks don’t necessarily spell doom. “Revolutions don’t happen overnight,” Novogratz underscored. ‘Macro Market On Steroids’ The former Goldman Sachs partner and hedge fund manager said he has never witnessed a financial phenomenon like crypto, which is why he left investment banking to plunge head-long into the nascent cryptocurrency industry. “For me, crypto was interesting because what macro guys do is try to make complicated things simple. It was macro markets on steroids,” Novogratz recalled. “I’d never seen something go parabolic on a log chart before. I thought, ‘My God, this is the single craziest chart ever.'” Bull Call: Novogratz Says Bitcoin Will See Record Highs in 2019 https://t.co/JiGEZCre5q — CCN (@CryptoCoinsNews) November 6, 2018 Mike Novogratz and other crypto evangelists say 2019 will be a milestone year fueled by a surge in institutional investments. In fact, he predicts that bitcoin prices will hit record highs in 2019. “By the end of the first quarter [of 2019], we will take out $10,000,” he said. “After that, we will go back to new highs — to $20,000 or more.” Story continues ‘Some of the Smartest People’ Invest in Crypto Over the summer, the industry scored major street cred after the multi-billion-dollar university endowments of Harvard, Yale, and Stanford University announced that they had invested in crypto. The move was viewed as an unmistakable signal of institutional confidence in crypto as investment vehicles. Since institutions tend to copy each other, analysts say the move will trigger a chain reaction among other big-name institutional investors, such as pension funds. “The fact that David Swensen [Yale’s chief investment officer] put an investment into Bitcoin — with his reputation on the line, his endowment on the line — tells you something,” Novogratz said. “Some of the smartest people in the investing world think it’s a store of value.” Featured Image from Beyond Blocks/ YouTube The post ‘Revolutions Don’t Happen Overnight’: Why Mike Novogratz isn’t Giving up on Bitcoin appeared first on CCN . View comments || ‘Revolutions Don’t Happen Overnight’: Why Mike Novogratz isn’t Giving up on Bitcoin: mike novogratz crypto bitcoin cryptocurrency galaxy digital Bitcoin bull Mike Novogratz — the CEO of cryptocurrency merchant bank Galaxy Digital — is unfazed by the recent bear market, saying bitcoin is “digital gold” that will survive and thrive over the long haul. Novogratz admitted that he lost money during the 2018 slump due to bad market calls , but that doesn’t dampen his long-term outlook that crypto is a revolution whose time has come. As CCN reported, Galaxy Digital lost $136 million during the first nine months of 2018 due to losing positions in Ether, XRP, and Bitcoin during a relentless down market. Despite this, Novogratz remains as bullish as ever about crypto, especially BTC. ‘Digital Gold’ “I do believe Bitcoin is going to be digital gold,” Novogratz told Bloomberg . “That means it’s the only one of the coins out there that gets to be a legal pyramid scheme — just like gold is.” Novogratz said bitcoin and gold are similar because of their finite supplies. “All the gold ever mined in the history of the world fits in an Olympic-size swimming pool,” he said. “You’re out of your mind to think that pool’s worth $8 trillion. But it is because we say it is.” Novogratz said naysayers who are basking in schadenfreude over the current market downturn should realize that mass adoption of a new currency takes time. And early setbacks don’t necessarily spell doom. “Revolutions don’t happen overnight,” Novogratz underscored. ‘Macro Market On Steroids’ The former Goldman Sachs partner and hedge fund manager said he has never witnessed a financial phenomenon like crypto, which is why he left investment banking to plunge head-long into the nascent cryptocurrency industry. “For me, crypto was interesting because what macro guys do is try to make complicated things simple. It was macro markets on steroids,” Novogratz recalled. “I’d never seen something go parabolic on a log chart before. I thought, ‘My God, this is the single craziest chart ever.'” Bull Call: Novogratz Says Bitcoin Will See Record Highs in 2019 https://t.co/JiGEZCre5q — CCN (@CryptoCoinsNews) November 6, 2018 Mike Novogratz and other crypto evangelists say 2019 will be a milestone year fueled by a surge in institutional investments. In fact, he predicts that bitcoin prices will hit record highs in 2019. “By the end of the first quarter [of 2019], we will take out $10,000,” he said. “After that, we will go back to new highs — to $20,000 or more.” Story continues ‘Some of the Smartest People’ Invest in Crypto Over the summer, the industry scored major street cred after the multi-billion-dollar university endowments of Harvard, Yale, and Stanford University announced that they had invested in crypto. The move was viewed as an unmistakable signal of institutional confidence in crypto as investment vehicles. Since institutions tend to copy each other, analysts say the move will trigger a chain reaction among other big-name institutional investors, such as pension funds. “The fact that David Swensen [Yale’s chief investment officer] put an investment into Bitcoin — with his reputation on the line, his endowment on the line — tells you something,” Novogratz said. “Some of the smartest people in the investing world think it’s a store of value.” Featured Image from Beyond Blocks/ YouTube The post ‘Revolutions Don’t Happen Overnight’: Why Mike Novogratz isn’t Giving up on Bitcoin appeared first on CCN . View comments || ‘Revolutions Don’t Happen Overnight’: Why Mike Novogratz isn’t Giving up on Bitcoin: mike novogratz crypto bitcoin cryptocurrency galaxy digital Bitcoin bull Mike Novogratz — the CEO of cryptocurrency merchant bank Galaxy Digital — is unfazed by the recent bear market, saying bitcoin is “digital gold” that will survive and thrive over the long haul. Novogratz admitted that he lost money during the 2018 slump due to bad market calls , but that doesn’t dampen his long-term outlook that crypto is a revolution whose time has come. As CCN reported, Galaxy Digital lost $136 million during the first nine months of 2018 due to losing positions in Ether, XRP, and Bitcoin during a relentless down market. Despite this, Novogratz remains as bullish as ever about crypto, especially BTC. ‘Digital Gold’ “I do believe Bitcoin is going to be digital gold,” Novogratz told Bloomberg . “That means it’s the only one of the coins out there that gets to be a legal pyramid scheme — just like gold is.” Novogratz said bitcoin and gold are similar because of their finite supplies. “All the gold ever mined in the history of the world fits in an Olympic-size swimming pool,” he said. “You’re out of your mind to think that pool’s worth $8 trillion. But it is because we say it is.” Novogratz said naysayers who are basking in schadenfreude over the current market downturn should realize that mass adoption of a new currency takes time. And early setbacks don’t necessarily spell doom. “Revolutions don’t happen overnight,” Novogratz underscored. ‘Macro Market On Steroids’ The former Goldman Sachs partner and hedge fund manager said he has never witnessed a financial phenomenon like crypto, which is why he left investment banking to plunge head-long into the nascent cryptocurrency industry. “For me, crypto was interesting because what macro guys do is try to make complicated things simple. It was macro markets on steroids,” Novogratz recalled. “I’d never seen something go parabolic on a log chart before. I thought, ‘My God, this is the single craziest chart ever.'” Bull Call: Novogratz Says Bitcoin Will See Record Highs in 2019 https://t.co/JiGEZCre5q — CCN (@CryptoCoinsNews) November 6, 2018 Mike Novogratz and other crypto evangelists say 2019 will be a milestone year fueled by a surge in institutional investments. In fact, he predicts that bitcoin prices will hit record highs in 2019. “By the end of the first quarter [of 2019], we will take out $10,000,” he said. “After that, we will go back to new highs — to $20,000 or more.” Story continues ‘Some of the Smartest People’ Invest in Crypto Over the summer, the industry scored major street cred after the multi-billion-dollar university endowments of Harvard, Yale, and Stanford University announced that they had invested in crypto. The move was viewed as an unmistakable signal of institutional confidence in crypto as investment vehicles. Since institutions tend to copy each other, analysts say the move will trigger a chain reaction among other big-name institutional investors, such as pension funds. “The fact that David Swensen [Yale’s chief investment officer] put an investment into Bitcoin — with his reputation on the line, his endowment on the line — tells you something,” Novogratz said. “Some of the smartest people in the investing world think it’s a store of value.” Featured Image from Beyond Blocks/ YouTube The post ‘Revolutions Don’t Happen Overnight’: Why Mike Novogratz isn’t Giving up on Bitcoin appeared first on CCN . View comments || Crypto Firm Fragments Launches Stablecoin Following ‘Ampleforth’ Rebrand: usd cryptocurrency stablecoin ampleforth fragments Fragments protocol, an effort at stabilizing the buying power of cryptocurrency, has rebranded itself to Ampleforth as of today, renaming the crypto project after the “1984” character whose job is to translate poetry into Newspeak. Ampleforth aims to preserve the unit of account and money properties of its tokens. Instead of pegging to a fixed supply of fiat capital , Ampleforth’s Amples have an elastic supply based on demand. The way it works is pretty simple: if you bought 1 Ample at $1, and the demand for the token pushed the price up 100%, you’d now have 2 Amples instead of one. If the price of an Ample went back down, you’d likewise lose your extra Amples. You still experience losses and gains, but you know that the one Ample you bought will buy you a dollar’s worth of goods no matter what happens in the future. The concept is called a “noncollateralized stablecoin,” and differs from other stablecoins in its approach. Ampleforth has raised some cash to conduct this important experiment, around $4.75 million from various venture capital firms including Pantera Capital and Brian Armstrong . Elastic Supply Rather Than Elastic Valuation Gemini stablecoin cryptocurrency Ampleforth CEO Evan Kuo believes that the market dynamics in crypto work against Bitcoin actually fulfilling its vision as a medium of exchange. One cannot from one day to the next know what your Bitcoin will buy. He also believes that the vast majority of stablecoins are weakened by the fact that they are tied to inflationary currencies. These are the two fundamental problems Ampleforth aims to solve: making the crypto a medium of exchange by stabilizing their real-world value and thereby making them a reasonable medium of exchange. If the price were to go down, under your original buy price, you simply have less Amples, but the same amount of value. You are rewarded with increased buying power if you buy low, but you will always have your investment. In a sense, it’s a totally experimental form of stablecoin that the market will certainly have to test. According to the crypto project’s whitepaper: Story continues “When the price exchange rate between Amples and dollars is < 1, the protocol responds by deflating directly from coin holders, placing pressure on speculators to buy.” The target, as with most stablecoins, is a dollar. Thus traders will have that in mind as they’re buying and selling them. It’s unclear how this will actually work on exchanges , who may not be interested in constantly updating balances. Kuo says: “Rather than solving the Tether problem, Ampleforth is delivering on Bitcoin’s original promise. The Bitcoin protocol launched as a fair and independent alternative to fiat money. But, as we’ve seen, Bitcoin’s fixed supply and price volatility makes it virtually impossible to be used as a unit of account or medium for exchange.” The “ Stablecoin Wars ” just got more interesting, that’s for sure. Ampleforth is one approach to the problem. Crypto token Dai also has more complex mechanics than simply pegging itself to a supply of fiat. Images from Shutterstock The post Crypto Firm Fragments Launches Stablecoin Following ‘Ampleforth’ Rebrand appeared first on CCN . || Crypto Firm Fragments Launches Stablecoin Following ‘Ampleforth’ Rebrand: usd cryptocurrency stablecoin ampleforth fragments Fragments protocol, an effort at stabilizing the buying power of cryptocurrency, has rebranded itself to Ampleforth as of today, renaming the crypto project after the “1984” character whose job is to translate poetry into Newspeak. Ampleforth aims to preserve the unit of account and money properties of its tokens. Instead of pegging to a fixed supply of fiat capital , Ampleforth’s Amples have an elastic supply based on demand. The way it works is pretty simple: if you bought 1 Ample at $1, and the demand for the token pushed the price up 100%, you’d now have 2 Amples instead of one. If the price of an Ample went back down, you’d likewise lose your extra Amples. You still experience losses and gains, but you know that the one Ample you bought will buy you a dollar’s worth of goods no matter what happens in the future. The concept is called a “noncollateralized stablecoin,” and differs from other stablecoins in its approach. Ampleforth has raised some cash to conduct this important experiment, around $4.75 million from various venture capital firms including Pantera Capital and Brian Armstrong . Elastic Supply Rather Than Elastic Valuation Gemini stablecoin cryptocurrency Ampleforth CEO Evan Kuo believes that the market dynamics in crypto work against Bitcoin actually fulfilling its vision as a medium of exchange. One cannot from one day to the next know what your Bitcoin will buy. He also believes that the vast majority of stablecoins are weakened by the fact that they are tied to inflationary currencies. These are the two fundamental problems Ampleforth aims to solve: making the crypto a medium of exchange by stabilizing their real-world value and thereby making them a reasonable medium of exchange. If the price were to go down, under your original buy price, you simply have less Amples, but the same amount of value. You are rewarded with increased buying power if you buy low, but you will always have your investment. In a sense, it’s a totally experimental form of stablecoin that the market will certainly have to test. According to the crypto project’s whitepaper: Story continues “When the price exchange rate between Amples and dollars is < 1, the protocol responds by deflating directly from coin holders, placing pressure on speculators to buy.” The target, as with most stablecoins, is a dollar. Thus traders will have that in mind as they’re buying and selling them. It’s unclear how this will actually work on exchanges , who may not be interested in constantly updating balances. Kuo says: “Rather than solving the Tether problem, Ampleforth is delivering on Bitcoin’s original promise. The Bitcoin protocol launched as a fair and independent alternative to fiat money. But, as we’ve seen, Bitcoin’s fixed supply and price volatility makes it virtually impossible to be used as a unit of account or medium for exchange.” The “ Stablecoin Wars ” just got more interesting, that’s for sure. Ampleforth is one approach to the problem. Crypto token Dai also has more complex mechanics than simply pegging itself to a supply of fiat. Images from Shutterstock The post Crypto Firm Fragments Launches Stablecoin Following ‘Ampleforth’ Rebrand appeared first on CCN .
[Social Media Buzz]
最も高くBTC/JPYを売れるのは？(2018-12-12 23:59:02 現在)
BITPoint 385100.00
bitbank 384871.00
coincheck 384763.00
Liquid 384755.52
bitFlyer 384539.00
Zaif 384405.00 || 2018/12/13 07:00
#Binance 格安コイン
1位 #HOT 0.00000013 BTC(0.05円)
2位 #NPXS 0.00000016 BTC(0.06円)
3位 #BCN 0.00000022 BTC(0.09円)
4位 #DENT 0.00000026 BTC(0.1円)
5位 #NCASH 0.00000049 BTC(0.19円)
#仮想通貨 #アルトコイン #草コインhttps://wp.me/p9uE3r-u || Total Market Cap: $111,110,562,255
1 BTC: $3,502.59
BTC Dominance: 54.91%
Updat...
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3313.68, 3242.48, 3236.76, 3252.84, 3545.86, 3696.06, 3745.95, 4134.44, 3896.54, 4014.18
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Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 9630.66, 9757.97, 10346.76, 10623.54, 10594.49, 10575.53, 10353.30, 10517.25, 10441.28, 10334.97, 10115.98, 10178.37, 10410.13, 10360.55, 10358.05, 10347.71, 10276.79, 10241.27, 10198.25, 10266.42, 10181.64, 10019.72, 10070.39, 9729.32, 8620.57, 8486.99, 8118.97, 8251.85, 8245.92, 8104.19, 8293.87, 8343.28, 8393.04, 8259.99, 8205.94, 8151.50, 7988.16, 8245.62, 8228.78, 8595.74, 8586.47, 8321.76, 8336.56, 8321.01, 8374.69, 8205.37, 8047.53, 8103.91, 7973.21, 7988.56, 8222.08, 8243.72, 8078.20, 7514.67, 7493.49, 8660.70, 9244.97, 9551.71, 9256.15, 9427.69, 9205.73, 9199.58, 9261.10, 9324.72, 9235.35, 9412.61, 9342.53, 9360.88, 9267.56, 8804.88, 8813.58, 9055.53, 8757.79, 8815.66, 8808.26, 8708.09, 8491.99, 8550.76, 8577.98, 8309.29, 8206.15, 8027.27, 7642.75, 7296.58, 7397.80, 7047.92, 7146.13, 7218.37, 7531.66, 7463.11.
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[Bitcoin Technical Analysis for 2019-11-28]
Volume: 19050116751, RSI (14-day): 36.48, 50-day EMA: 8414.05, 200-day EMA: 8599.67
[Wider Market Context]
None available.
[Recent News (last 7 days)]
XRP market cap increases by $600m amid 8% bounce from two-year low: Ripples XRP token has surged by more than 8% in the past two days after falling to a brutal low of $0.20 on Monday. The market cap of XRP has now increased by $600 million to around $9.6 billion as a result of the rally. While the short-term perspective looks positive for XRP, the long-term picture continues to look bleak following a death cross on the daily chart on July 19. XRP now needs to rally back above the $0.23 level, which is now resistance after initially providing support over the past few months. However, while the fundamentals surrounding XRP continue to look strong, with $20 million being invested into MoneyGram earlier this week, the price action depends on the path Bitcoin takes as we approach the end of the year. Bitcoin has suffered a woeful month, with a fall of more than 30% resulting in an exponential moving average death cross on the daily chart. Several analysts are now predicting that Bitcoin may fall to as low as $3,150 before gaining more momentum to the upside. If these Bitcoin predictions come to fruition, the value of XRP will likely continue to nosedive to levels last seen prior to the 2017 bull market, with $0.18 and $0.13 being two key targets to the downside. For more news, guides, and cryptocurrency analysis, click here . The post XRP market cap increases by $600m amid 8% bounce from two-year low appeared first on Coin Rivet . || XRP market cap increases by $600m amid 8% bounce from two-year low: Ripples XRP token has surged by more than 8% in the past two days after falling to a brutal low of $0.20 on Monday. The market cap of XRP has now increased by $600 million to around $9.6 billion as a result of the rally. While the short-term perspective looks positive for XRP, the long-term picture continues to look bleak following a death cross on the daily chart on July 19. XRP now needs to rally back above the $0.23 level, which is now resistance after initially providing support over the past few months. However, while the fundamentals surrounding XRP continue to look strong, with $20 million being invested into MoneyGram earlier this week, the price action depends on the path Bitcoin takes as we approach the end of the year. Bitcoin has suffered a woeful month, with a fall of more than 30% resulting in an exponential moving average death cross on the daily chart. Several analysts are now predicting that Bitcoin may fall to as low as $3,150 before gaining more momentum to the upside. If these Bitcoin predictions come to fruition, the value of XRP will likely continue to nosedive to levels last seen prior to the 2017 bull market, with $0.18 and $0.13 being two key targets to the downside. For more news, guides, and cryptocurrency analysis, click here . The post XRP market cap increases by $600m amid 8% bounce from two-year low appeared first on Coin Rivet . || Bitcoin, Ripple & Litecoin - American Wrap: 11/27/2019: BTC/USD Technical Analysis: Perfect Textbook Technical Pattern Is Very Close To Being In Play The head and shoulders pattern is one of the most famous in technical analysis. Now it seems on the 4-hour chart BTC/USD is forming a perfect one. If the price breaks and closed above 7,400 that will trigger a potential upside target of between 8K and 8,200. With the head and shoulders pattern the target is based on the pattern length. XRP/USD Technical Analysis: Ripple breaks higher but can it sustain the move? As you can see from the chart below the price has recently shot higher. The 0.2255 level has been used on a number of occasions as a support and resistance level. The next potential resistance lies at 0.2355 which has been respected on three occasions. LTC/USD Technical Analysis: This resistance level is hitting the price hard intraday Looking at the hourly chart below its clear to see that the 47.22 level is giving LTC/USD some trouble. Bitcoin, on the other hand, has broken higher and maybe this can have a lagging effect on Litecoin. Longterm. this level was pretty significant back on 23rd October as it was where price found support after a heavy drop. Image Sourced from Pixabay 0 See more from Benzinga Bitcoin, Ripple & TRON - American Wrap: 11/26/19 Bitcoin, Ripple & Litecoin - American Wrap: 11/25/2019 Bitcoin, Ripple & TRON - American Wrap: 11/19/19 © 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. View comments || Bitcoin, Ripple & Litecoin - American Wrap: 11/27/2019: BTC/USD Technical Analysis: Perfect Textbook Technical Pattern Is Very Close To Being In Play
The head and shoulders pattern is one of the most famous in technical analysis.
Now it seems on the 4-hour chart BTC/USD is forming a perfect one.
If the price breaks and closed above 7,400 that will trigger a potential upside target of between 8K and 8,200.
With the head and shoulders pattern the target is based on the pattern length.
XRP/USD Technical Analysis: Ripple breaks higher but can it sustain the move?
As you can see from the chart below the price has recently shot higher.
The 0.2255 level has been used on a number of occasions as a support and resistance level.
The next potential resistance lies at 0.2355 which has been respected on three occasions.
LTC/USD Technical Analysis: This resistance level is hitting the price hard intraday
Looking at the hourly chart below its clear to see that the 47.22 level is giving LTC/USD some trouble.
Bitcoin, on the other hand, has broken higher and maybe this can have a lagging effect on Litecoin.
Longterm. this level was pretty significant back on 23rd October as it was where price found support after a heavy drop.
Image Sourced from Pixabay
0
See more from Benzinga
• Bitcoin, Ripple & TRON - American Wrap: 11/26/19
• Bitcoin, Ripple & Litecoin - American Wrap: 11/25/2019
• Bitcoin, Ripple & TRON - American Wrap: 11/19/19
© 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Bitcoin, Ripple & Litecoin - American Wrap: 11/27/2019: BTC/USD Technical Analysis: Perfect Textbook Technical Pattern Is Very Close To Being In Play
The head and shoulders pattern is one of the most famous in technical analysis.
Now it seems on the 4-hour chart BTC/USD is forming a perfect one.
If the price breaks and closed above 7,400 that will trigger a potential upside target of between 8K and 8,200.
With the head and shoulders pattern the target is based on the pattern length.
XRP/USD Technical Analysis: Ripple breaks higher but can it sustain the move?
As you can see from the chart below the price has recently shot higher.
The 0.2255 level has been used on a number of occasions as a support and resistance level.
The next potential resistance lies at 0.2355 which has been respected on three occasions.
LTC/USD Technical Analysis: This resistance level is hitting the price hard intraday
Looking at the hourly chart below its clear to see that the 47.22 level is giving LTC/USD some trouble.
Bitcoin, on the other hand, has broken higher and maybe this can have a lagging effect on Litecoin.
Longterm. this level was pretty significant back on 23rd October as it was where price found support after a heavy drop.
Image Sourced from Pixabay
0
See more from Benzinga
• Bitcoin, Ripple & TRON - American Wrap: 11/26/19
• Bitcoin, Ripple & Litecoin - American Wrap: 11/25/2019
• Bitcoin, Ripple & TRON - American Wrap: 11/19/19
© 2019 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Stories That Move the Economy: Yale professor and Nobel laureate Robert Shiller is known for his contributions to the field of behavioral finance, which marries the disciplines of psychology and economics. Now, he wants to open the economic tent even wider to bring in the study of the stories that rise to prominence in societies -- tales that go viral, in other words -- because he thinks they have a lot to do with steering the course of the economy. He calls the new field narrative economics, which is also the title of his new book ( Narrative Economics: How Stories Go Viral & Drive Major Economic Events , Princeton University Press, 2019). See Also: Kiplinger's Economic Outlook for All 50 States Shiller defines an economic narrative as a contagious story that has the potential to change how people make economic decisions -- say, whether to launch a business, invest in a volatile asset or tighten one's purse strings. The narratives swirling around the Bitcoin phenomenon, for instance, encompass themes of bubbles, anarchism, human interest, fear of inequality and the future, Shiller notes. Fans of the cryptocurrency don't have to understand how it works to believe in it. "There's a flash of passion about it, like a hit song or a hit movie," Shiller told me in a recent interview. "There's something that touches a nerve. Economic narratives are like that." Kiplinger founder Willard Kiplinger plays a cameo role in the book, when Shiller quotes a 1930 Kiplinger publication (presumably The Kiplinger Letter ), listing causes of the Great Depression. Among them: "The development of machines which do the work of many men under the direction of a few men." The modern-day trope for this machine-versus-man showdown is artificial intelligence. Us or them. For now, artificial intelligence is talked about a lot. But with a full-employment economy, people aren't scared by AI, Shiller says. Still, like the perennial narrative of the Great Depression, the one about job-eating robots could become more malevolent under the right circumstances. "I worry that if there's a recession, it might kindle a rebirth of the machines-replace-people narrative, and it could worsen the recession," Shiller says. "People don't want to spend money if they think they'll lose their job forever, and that propels the whole economy into a recession." Story continues Shiller points out that he has been tracking narratives his entire career. They played a crucial role in his warnings about the stock market bubble of the late 1990s, which burst shortly after publication in 2000 of the first edition of his bestseller Irrational Exuberance . The 2005 edition sounded alarms about the housing bubble, before the collapse of that market precipitated the financial crisis. As for what he makes of the market today, Shiller says he favors bargain-priced stocks over the growth-oriented fare that has largely driven the current bull market. "I think that you might tilt toward value, even though it hasn't worked lately. But that's the time to get in, when it hasn't worked." Is there a narrative circulating today that worries him? "Low, long-term interest rates, especially in Europe and other places, suggest a sort of bubble in the bond market," says Shiller. "It seems like there might be a big correction there and that's an asset class that's traditionally thought to be the safest. It's not clear that it is." Whatever Shiller figures out about the bond market, he's clear about the need for policymakers to pay attention to the lessons that economic narratives have for us when it comes to reading the tea leaves about financial and housing markets. Writes Shiller: "Stories and legends from the past are scripts for the next boom or crash." See Also: The 7 Best Bond Funds for Retirement Savers in 2020 EDITOR'S PICKS TOOL: Kiplinger’s Economic Outlook 11 States Most Unprepared for the Next Recession The 10 Least Tax-Friendly States in the U.S. Copyright 2019 The Kiplinger Washington Editors || Stories That Move the Economy: Yale professor and Nobel laureate Robert Shiller is known for his contributions to the field of behavioral finance, which marries the disciplines of psychology and economics. Now, he wants to open the economic tent even wider to bring in the study of the stories that rise to prominence in societies -- tales that go viral, in other words -- because he thinks they have a lot to do with steering the course of the economy. He calls the new field narrative economics, which is also the title of his new book ( Narrative Economics: How Stories Go Viral & Drive Major Economic Events , Princeton University Press, 2019). See Also: Kiplinger's Economic Outlook for All 50 States Shiller defines an economic narrative as a contagious story that has the potential to change how people make economic decisions -- say, whether to launch a business, invest in a volatile asset or tighten one's purse strings. The narratives swirling around the Bitcoin phenomenon, for instance, encompass themes of bubbles, anarchism, human interest, fear of inequality and the future, Shiller notes. Fans of the cryptocurrency don't have to understand how it works to believe in it. "There's a flash of passion about it, like a hit song or a hit movie," Shiller told me in a recent interview. "There's something that touches a nerve. Economic narratives are like that." Kiplinger founder Willard Kiplinger plays a cameo role in the book, when Shiller quotes a 1930 Kiplinger publication (presumably The Kiplinger Letter ), listing causes of the Great Depression. Among them: "The development of machines which do the work of many men under the direction of a few men." The modern-day trope for this machine-versus-man showdown is artificial intelligence. Us or them. For now, artificial intelligence is talked about a lot. But with a full-employment economy, people aren't scared by AI, Shiller says. Still, like the perennial narrative of the Great Depression, the one about job-eating robots could become more malevolent under the right circumstances. "I worry that if there's a recession, it might kindle a rebirth of the machines-replace-people narrative, and it could worsen the recession," Shiller says. "People don't want to spend money if they think they'll lose their job forever, and that propels the whole economy into a recession." Story continues Shiller points out that he has been tracking narratives his entire career. They played a crucial role in his warnings about the stock market bubble of the late 1990s, which burst shortly after publication in 2000 of the first edition of his bestseller Irrational Exuberance . The 2005 edition sounded alarms about the housing bubble, before the collapse of that market precipitated the financial crisis. As for what he makes of the market today, Shiller says he favors bargain-priced stocks over the growth-oriented fare that has largely driven the current bull market. "I think that you might tilt toward value, even though it hasn't worked lately. But that's the time to get in, when it hasn't worked." Is there a narrative circulating today that worries him? "Low, long-term interest rates, especially in Europe and other places, suggest a sort of bubble in the bond market," says Shiller. "It seems like there might be a big correction there and that's an asset class that's traditionally thought to be the safest. It's not clear that it is." Whatever Shiller figures out about the bond market, he's clear about the need for policymakers to pay attention to the lessons that economic narratives have for us when it comes to reading the tea leaves about financial and housing markets. Writes Shiller: "Stories and legends from the past are scripts for the next boom or crash." See Also: The 7 Best Bond Funds for Retirement Savers in 2020 EDITOR'S PICKS TOOL: Kiplinger’s Economic Outlook 11 States Most Unprepared for the Next Recession The 10 Least Tax-Friendly States in the U.S. Copyright 2019 The Kiplinger Washington Editors || Bitcoin price shoots up 8% as Bakkt breaks new record: Theprice of bitcoinhad substantially recovered today by 19:30 UTC, despite dropping by $200 earlier this morning.
On the back of news that South Korean crypto exchange UPbit hadlost $50 million in ether, bitcoin's price broke below the $7,000 mark after trading around $7,200 for a couple of days. But its price swiftly recovered—possibly on news that no bitcoin was stolen, or that the lost funds had been constrained. Regardless, from its lowest point, it rose eight percent to peak at $7,587, before settling to $7,587.
Some traders have been pointing to a head and shoulders pattern on the bitcoin chart, where a small dip precedes a larger dip, before a third small dip finishes off the pattern. Typically an upside-down head and shoulders pattern, which traders claim we've seen over the past few days, is a bullish sign. However, Mati Greenspan, formerly senior trading analyst at eToro and founder of Quantum Economics,tweetedthat these patterns are generally more reliable on a longer timeframe.
With the increased volatility in the market, bitcoin futures exchange Bakkt has seen much higher trading volume. It has broken a new record today, hitting 3,151 bitcoin volume so far today, worth $23 million. Unlike many other futures exchanges, these trades are settled in bitcoin, rather than the fiat equivalent. || Bitcoin price shoots up 8% as Bakkt breaks new record: Theprice of bitcoinhad substantially recovered today by 19:30 UTC, despite dropping by $200 earlier this morning.
On the back of news that South Korean crypto exchange UPbit hadlost $50 million in ether, bitcoin's price broke below the $7,000 mark after trading around $7,200 for a couple of days. But its price swiftly recovered—possibly on news that no bitcoin was stolen, or that the lost funds had been constrained. Regardless, from its lowest point, it rose eight percent to peak at $7,587, before settling to $7,587.
Some traders have been pointing to a head and shoulders pattern on the bitcoin chart, where a small dip precedes a larger dip, before a third small dip finishes off the pattern. Typically an upside-down head and shoulders pattern, which traders claim we've seen over the past few days, is a bullish sign. However, Mati Greenspan, formerly senior trading analyst at eToro and founder of Quantum Economics,tweetedthat these patterns are generally more reliable on a longer timeframe.
With the increased volatility in the market, bitcoin futures exchange Bakkt has seen much higher trading volume. It has broken a new record today, hitting 3,151 bitcoin volume so far today, worth $23 million. Unlike many other futures exchanges, these trades are settled in bitcoin, rather than the fiat equivalent. || Lebanese Bitcoiners Show How to Talk About Crypto At Thanksgiving: Bitcoiners in the U.S. might dread talking to their relatives about the crypto market on Thanksgiving. Instead of discussing price volatility, they may consider sharing insights from Lebanese users about what they’re thankful for this week.
In the face of strictbanking limitationsand a dollar shortage that have sparked widespreadlayoffsandprotestsin the Middle Eastern country, bitcoin is helping some Lebanese get by. Emphasis on the wordhelping. Because in times of civil unrest, traditional social ties can be just as important as technology.
Amid an economic crisis, the Association of Banks in Lebanon has set a temporary $1,000 cap on weekly withdrawals from U.S. dollar accounts at commercial banks,Reutersreported earlier this month. A bitcoin trader in Beirut said his bank set an even lower a $150 monthly limit for “international spending.” Chatter in Lebanese WhatsApp groups indicates many civilians are struggling to access their bank accounts storing any currency.
Related:Bitcoin Is Looking at a Short-Term Bull Reversal if Prices Pass $7,400
Such restrictions create widespread ripple effects, since many Lebanese businesses manageimports with dollarsrather than the inflationary lira.
“We are slowly running out of imported items and goods,” said the Beirut trader, who, like others interviewed for this article, spoke on condition of anonymity for his personal safety.
“The local butcher didn’t buy meat today because he can’t increase [lira] prices, so he’d rather not get any,” he said, sending photos of nearly empty supermarket shelves.
In that context, remittances are a lifeline, including those sent in crypto.
Related:Charities Put a Bitcoin Twist on Giving Tuesday
“I believe bitcoin is helpful, especially for expats looking to send money to help family in Lebanon. I’ve actually been getting a few calls about that today,” another bitcoiner in Beirut said, noting he helped up to 35 families do so this month, with each transaction worth more than $10,000 in bitcoin.
That represents roughly a 20 percent increase from his usual volume. Unlike other traders, this bitcoiner doesn’t accept fiat or local payments for his services – in part, he said, because his Lebanese credit card has been limited to $200 of spending a day. So he charges a small premium in bitcoin and has a network of people who distribute dollars to families in return. Most businesses remain “operational,” thanks to a “creative ways to ensure the circulation of money,” he said.
A third Lebanese bitcoin trader in Byblos said his customer base went from roughly 30 people a month, converting bitcoin remittances from abroad to dollars, to 200 people this past month.
He estimated up to $6,000 worth of bitcoin flowed into Lebanon through his deals alone, and he is one of four liquidity providers in Byblos. There’s also been an increase in customers seeking bitcoin to send abroad.
“It’s working. It’s sufficient,” he said. “It’s serving many businesses. They are sending money abroad to receive merchandise. One of my clients sent $100,000 (worth of bitcoin) to get his container from Saudi, he exports energy drinks.”
No one is claiming that bitcoin alone can “fix” Lebanon’s problems, popular Twitter memes notwithstanding. Rather, it’s a tool that can be used to bolster resources like family networks that have also made a difference.
“We are a family-oriented culture, so we support each other,” said the first Beirut trader. “I guess you could call it pooling. Anyone contributes as they can, but it’s obvious that people are on a budget and not spending on luxury or entertainment.”
More shopkeepers in Lebanon are keeping paper ledgers of credit for local families, several on-the-ground sources said. This was already an established custom in some cases, but it’s more common in times like these.
“A local supermarket will have a small book that will say, for example, ‘my family lives in this apartment and has been shopping there at the market for the past 10 years,’” said a fourth Lebanese trader, who is currently living abroad.
Meanwhile, his peer in Beirut said he feels the personal risks to bitcoiners are higher these days due to misinformation and political rivalries.
Hezbollah leaderHassan Nasrallahpaints economic protesters as political groups “exploited by foreign powers,” which the Beirut-based bitcoiner said stokes animosity and increases violence within the community.
Since bitcoin is often associated with anti-government protests, by nature of its cypherpunk origins, this requires word-of-mouth education to show bitcoin is an apolitical asset, not a foreign get-rich-quick scheme, he said.
“I think if everyone took the time to educate their family and surrounding [community]…the world might be a better place,” the Beirut trader said. “Bitcoiners should help with [education], not saying that bitcoin will make your rich…but why it works and how it can work for us.”
• Keep Calm and HODL On? 3 Reasons to Look Past Bitcoin’s Price Rout
• As Bitcoin Bounces Back Above $7K, Popular Analysts Say Monthly Close Is Pivotal || Lebanese Bitcoiners Show How to Talk About Crypto At Thanksgiving: Bitcoiners in the U.S. might dread talking to their relatives about the crypto market on Thanksgiving. Instead of discussing price volatility, they may consider sharing insights from Lebanese users about what they’re thankful for this week. In the face of strict banking limitations and a dollar shortage that have sparked widespread layoffs and protests in the Middle Eastern country, bitcoin is helping some Lebanese get by. Emphasis on the word helping . Because in times of civil unrest, traditional social ties can be just as important as technology. Amid an economic crisis, the Association of Banks in Lebanon has set a temporary $1,000 cap on weekly withdrawals from U.S. dollar accounts at commercial banks, Reuters reported earlier this month. A bitcoin trader in Beirut said his bank set an even lower a $150 monthly limit for “international spending.” Chatter in Lebanese WhatsApp groups indicates many civilians are struggling to access their bank accounts storing any currency. Related: Bitcoin Is Looking at a Short-Term Bull Reversal if Prices Pass $7,400 Such restrictions create widespread ripple effects, since many Lebanese businesses manage imports with dollars rather than the inflationary lira. “We are slowly running out of imported items and goods,” said the Beirut trader, who, like others interviewed for this article, spoke on condition of anonymity for his personal safety. “The local butcher didn’t buy meat today because he can’t increase [lira] prices, so he’d rather not get any,” he said, sending photos of nearly empty supermarket shelves. In that context, remittances are a lifeline, including those sent in crypto. Related: Charities Put a Bitcoin Twist on Giving Tuesday “I believe bitcoin is helpful, especially for expats looking to send money to help family in Lebanon. I’ve actually been getting a few calls about that today,” another bitcoiner in Beirut said, noting he helped up to 35 families do so this month, with each transaction worth more than $10,000 in bitcoin. Story continues That represents roughly a 20 percent increase from his usual volume. Unlike other traders, this bitcoiner doesn’t accept fiat or local payments for his services – in part, he said, because his Lebanese credit card has been limited to $200 of spending a day. So he charges a small premium in bitcoin and has a network of people who distribute dollars to families in return. Most businesses remain “operational,” thanks to a “creative ways to ensure the circulation of money,” he said. A third Lebanese bitcoin trader in Byblos said his customer base went from roughly 30 people a month, converting bitcoin remittances from abroad to dollars, to 200 people this past month. He estimated up to $6,000 worth of bitcoin flowed into Lebanon through his deals alone, and he is one of four liquidity providers in Byblos. There’s also been an increase in customers seeking bitcoin to send abroad. “It’s working. It’s sufficient,” he said. “It’s serving many businesses. They are sending money abroad to receive merchandise. One of my clients sent $100,000 (worth of bitcoin) to get his container from Saudi, he exports energy drinks.” Family Ties No one is claiming that bitcoin alone can “fix” Lebanon’s problems, popular Twitter memes notwithstanding. Rather, it’s a tool that can be used to bolster resources like family networks that have also made a difference. “We are a family-oriented culture, so we support each other,” said the first Beirut trader. “I guess you could call it pooling. Anyone contributes as they can, but it’s obvious that people are on a budget and not spending on luxury or entertainment.” More shopkeepers in Lebanon are keeping paper ledgers of credit for local families, several on-the-ground sources said. This was already an established custom in some cases, but it’s more common in times like these. “A local supermarket will have a small book that will say, for example, ‘my family lives in this apartment and has been shopping there at the market for the past 10 years,’” said a fourth Lebanese trader, who is currently living abroad. Meanwhile, his peer in Beirut said he feels the personal risks to bitcoiners are higher these days due to misinformation and political rivalries. Hezbollah leader Hassan Nasrallah paints economic protesters as political groups “exploited by foreign powers,” which the Beirut-based bitcoiner said stokes animosity and increases violence within the community. Since bitcoin is often associated with anti-government protests, by nature of its cypherpunk origins, this requires word-of-mouth education to show bitcoin is an apolitical asset, not a foreign get-rich-quick scheme, he said. “I think if everyone took the time to educate their family and surrounding [community]…the world might be a better place,” the Beirut trader said. “Bitcoiners should help with [education], not saying that bitcoin will make your rich…but why it works and how it can work for us.” Related Stories Keep Calm and HODL On? 3 Reasons to Look Past Bitcoin’s Price Rout As Bitcoin Bounces Back Above $7K, Popular Analysts Say Monthly Close Is Pivotal || Lebanese Bitcoiners Show How to Talk About Crypto At Thanksgiving: Bitcoiners in the U.S. might dread talking to their relatives about the crypto market on Thanksgiving. Instead of discussing price volatility, they may consider sharing insights from Lebanese users about what they’re thankful for this week.
In the face of strictbanking limitationsand a dollar shortage that have sparked widespreadlayoffsandprotestsin the Middle Eastern country, bitcoin is helping some Lebanese get by. Emphasis on the wordhelping. Because in times of civil unrest, traditional social ties can be just as important as technology.
Amid an economic crisis, the Association of Banks in Lebanon has set a temporary $1,000 cap on weekly withdrawals from U.S. dollar accounts at commercial banks,Reutersreported earlier this month. A bitcoin trader in Beirut said his bank set an even lower a $150 monthly limit for “international spending.” Chatter in Lebanese WhatsApp groups indicates many civilians are struggling to access their bank accounts storing any currency.
Related:Bitcoin Is Looking at a Short-Term Bull Reversal if Prices Pass $7,400
Such restrictions create widespread ripple effects, since many Lebanese businesses manageimports with dollarsrather than the inflationary lira.
“We are slowly running out of imported items and goods,” said the Beirut trader, who, like others interviewed for this article, spoke on condition of anonymity for his personal safety.
“The local butcher didn’t buy meat today because he can’t increase [lira] prices, so he’d rather not get any,” he said, sending photos of nearly empty supermarket shelves.
In that context, remittances are a lifeline, including those sent in crypto.
Related:Charities Put a Bitcoin Twist on Giving Tuesday
“I believe bitcoin is helpful, especially for expats looking to send money to help family in Lebanon. I’ve actually been getting a few calls about that today,” another bitcoiner in Beirut said, noting he helped up to 35 families do so this month, with each transaction worth more than $10,000 in bitcoin.
That represents roughly a 20 percent increase from his usual volume. Unlike other traders, this bitcoiner doesn’t accept fiat or local payments for his services – in part, he said, because his Lebanese credit card has been limited to $200 of spending a day. So he charges a small premium in bitcoin and has a network of people who distribute dollars to families in return. Most businesses remain “operational,” thanks to a “creative ways to ensure the circulation of money,” he said.
A third Lebanese bitcoin trader in Byblos said his customer base went from roughly 30 people a month, converting bitcoin remittances from abroad to dollars, to 200 people this past month.
He estimated up to $6,000 worth of bitcoin flowed into Lebanon through his deals alone, and he is one of four liquidity providers in Byblos. There’s also been an increase in customers seeking bitcoin to send abroad.
“It’s working. It’s sufficient,” he said. “It’s serving many businesses. They are sending money abroad to receive merchandise. One of my clients sent $100,000 (worth of bitcoin) to get his container from Saudi, he exports energy drinks.”
No one is claiming that bitcoin alone can “fix” Lebanon’s problems, popular Twitter memes notwithstanding. Rather, it’s a tool that can be used to bolster resources like family networks that have also made a difference.
“We are a family-oriented culture, so we support each other,” said the first Beirut trader. “I guess you could call it pooling. Anyone contributes as they can, but it’s obvious that people are on a budget and not spending on luxury or entertainment.”
More shopkeepers in Lebanon are keeping paper ledgers of credit for local families, several on-the-ground sources said. This was already an established custom in some cases, but it’s more common in times like these.
“A local supermarket will have a small book that will say, for example, ‘my family lives in this apartment and has been shopping there at the market for the past 10 years,’” said a fourth Lebanese trader, who is currently living abroad.
Meanwhile, his peer in Beirut said he feels the personal risks to bitcoiners are higher these days due to misinformation and political rivalries.
Hezbollah leaderHassan Nasrallahpaints economic protesters as political groups “exploited by foreign powers,” which the Beirut-based bitcoiner said stokes animosity and increases violence within the community.
Since bitcoin is often associated with anti-government protests, by nature of its cypherpunk origins, this requires word-of-mouth education to show bitcoin is an apolitical asset, not a foreign get-rich-quick scheme, he said.
“I think if everyone took the time to educate their family and surrounding [community]…the world might be a better place,” the Beirut trader said. “Bitcoiners should help with [education], not saying that bitcoin will make your rich…but why it works and how it can work for us.”
• Keep Calm and HODL On? 3 Reasons to Look Past Bitcoin’s Price Rout
• As Bitcoin Bounces Back Above $7K, Popular Analysts Say Monthly Close Is Pivotal || Skrill Extends Footprint with New Crypto-to-Crypto Feature: Skrill has announced a new crypto-to-crypto buy and sell service for its users. After launching a fiat-to-crypto on-ramping feature for users of its payment platform last year, this latest move represents a further reach into the cryptocurrency space for the London-based payments firm. With the introduction of crypto-to-crypto transfers, Skrill users will have access to faster and lower-fee transactions across their digital asset portfolio on the platform. Skrills first foray into the cryptocurrency business came in 2018 when it launched a buy-and-sell service for its customers, enabling them to exchange their fiat account balances for cryptocurrencies. Before this latest development, if a Skrill user wanted to switch from, say, Bitcoin to Ether, theyd have to convert their BTC back to fiat and then buy some ETH. Skrill CEO Lorenzo Pellegrino recently gave an interview in which he underlined his companys commitment to making cryptocurrencies more accessible to users. Speaking of the new crypto-to-crypto buy and sell service, he stated: Cryptocurrency is an important part of what we do in digital wallets, and using our scale and vast experience of the payments industry, were continually enhancing our service to help our customers get the most out of the crypto ecosystem. [caption id="attachment_793420" align="aligncenter" width="750"] Lorenzo Pellegrino Lorenzo Pellegrino, Skrills CEO, believes that crypto is starting to rock the boat, releases crypto to crypto offering on Skrill.[/caption] The new service means they can buy ETH using their BTC balance, so they only pay fees for a single transaction. Currently, only BTC pairs are available via the service, but Skrill has said it expects to add more pairs soon. The company has recently launched another new feature on its platform in the form of a loyalty program called Knect. Users can accrue points by using their Skrill wallet or prepaid credit card. Points are tradeable for a wide range of rewards, including cryptocurrencies on the Skrill platform. Story continues Skrill 2 Increasing Interest in Crypto from the Payment Sector Skrills news is the latest from the online payment sectors increasing interest in cryptocurrencies. The most high-profile this year has been PayPal (NASDAQ: PYPL)s well-documented inclusion in the Facebooks (NASDAQ: FB) Libra Association. However, the company turned its back on the project earlier this year. At the time, PayPals (NASDAQ: PYPL) statement was vague, saying only that it was choosing to focus on its own core business, but that it remained supportive of Libras goals. Many news outlets were quick to make the link with the increasing regulatory scrutiny the project was facing, particularly after other payment firms followed PayPal (NASDAQ: PYPL ). Recently though, PayPal (NASDAQ: PYPL) CEO Dan Schulman gave an interview to Fortune in which he elaborated further on his firms reasons for pulling out of Facebooks (NASDAQ: FB) Libra project. He reiterated that PayPal (NASDAQ: PYPL) was choosing to focus on its own roadmap and intriguingly, alluded to the companys R&D work in the blockchain space, highlighting identity as a specific use case. Schulmans interview came a day after it was reported that his firm had led a $4.2 million funding round for blockchain firm, TRM Labs. The company is aimed at helping financial institutions manage the compliance risks around digital asset investments and transactions. So it seems that we can expect more news from PayPal (NASDAQ:PYPL) in regards to its future involvement in blockchain and cryptocurrencies. In other news, one of Skrills rival UK payments firms, TransferGo, has also recently confirmed it plans to migrate to Ripples payment rails by early next year. Disclosure: None. || Skrill Extends Footprint with New Crypto-to-Crypto Feature: Skrillhas announced a new crypto-to-crypto buy and sell service for its users. After launching a fiat-to-crypto on-ramping feature for users of its payment platform last year, this latest move represents a further reach into the cryptocurrency space for the London-based payments firm. With the introduction of crypto-to-crypto transfers, Skrill users will have access to faster and lower-fee transactions across their digital asset portfolio on the platform.
Skrill’s first foray into the cryptocurrency business came in 2018 when it launched a buy-and-sell service for its customers, enabling them to exchange their fiat account balances for cryptocurrencies. Before this latest development, if a Skrill user wanted to switch from, say, Bitcoin to Ether, they’d have to convert their BTC back to fiat and then buy some ETH.
Skrill CEO Lorenzo Pellegrino recently gave aninterviewin which he underlined his company’s commitment to making cryptocurrencies more accessible to users. Speaking of the new crypto-to-crypto buy and sell service, he stated:
“Cryptocurrency is an important part of what we do in digital wallets, and using our scale and vast experience of the payments industry, we’re continually enhancing our service to help our customers get the most out of the crypto ecosystem.”
[caption id="attachment_793420" align="aligncenter" width="750"]
Lorenzo Pellegrino, Skrill’s CEO, believes that crypto is starting to “rock the boat”, releases crypto to crypto offering on Skrill.[/caption]
The new service means they can buy ETH using their BTC balance, so they only pay fees for a single transaction. Currently, only BTC pairs are available via the service, but Skrill has said it expects to add more pairs soon.
The company has recently launched another new feature on its platform in the form of a loyalty program called Knect. Users can accrue points by using their Skrill wallet or prepaid credit card. Points are tradeable for a wide range of rewards, including cryptocurrencies on the Skrill platform.
Increasing Interest in Crypto from the Payment Sector
Skrill’s news is the latest from the online payment sector’s increasing interest in cryptocurrencies. The most high-profile this year has been PayPal (NASDAQ: PYPL)’s well-documented inclusion in the Facebook’s (NASDAQ: FB) Libra Association. However, the company turned its back on the project earlier this year. At the time, PayPal’s (NASDAQ: PYPL) statement was vague, saying only that it was choosing to focus on its own core business, but that it remained supportive of Libra’s goals. Many news outlets werequick to make the linkwith the increasing regulatory scrutiny the project was facing, particularly after other payment firms followed PayPal (NASDAQ:PYPL).
Recently though, PayPal (NASDAQ: PYPL) CEO Dan Schulman gave aninterviewto Fortune in which he elaborated further on his firm’s reasons for pulling out of Facebook’s (NASDAQ: FB) Libra project. He reiterated that PayPal (NASDAQ: PYPL) was choosing to focus on its own roadmap and intriguingly, alluded to the company’s R&D work in the blockchain space, highlighting identity as a specific use case.
Schulman’s interview came a day after it wasreportedthat his firm had led a $4.2 million funding round for blockchain firm, TRM Labs. The company is aimed at helping financial institutions manage the compliance risks around digital asset investments and transactions. So it seems that we can expect more news from PayPal (NASDAQ:PYPL) in regards to its future involvement in blockchain and cryptocurrencies.
In other news, one of Skrill’s rival UK payments firms, TransferGo, has also recentlyconfirmedit plans to migrate to Ripple’s payment rails by early next year.
Disclosure: None. || Jeff Clarks Market Minute: The Ice Is Almost Broken: The past four months have been tough for gold stock traders. Source: Shutterstock It didnt matter if you were bullish or bearish on the sector. Gold stocks have frustrated both sides. Rallies have been short-lived, with each bounce topping out at a lower level than the previous peak. And, none of the declines have caused the sort of selling pressure that usually creates a good buying opportunity for the gold stocks. 7 Stocks to Buy in December So, the sidelines have been the best place to be for the past few months
InvestorPlace - Stock Market News, Stock Advice & Trading Tips And, at least for the near future, the sidelines still look like the right spot. Look at this updated chart of the VanEck Vectors Gold Miners Fund (GDX)
GDX peaked in early September. It then fell all the way down near $26 per share. Ever since then, each rally has peaked at a lower level, and each decline has tested the same $26 level as support . This action has created a descending triangle pattern on the chart. Its a bearish pattern that usually breaks to the downside. There is room inside the pattern for GDX to bounce a bit in the very short term. But, unless GDX can break the pattern of lower highs and close above $27.70 or so, the gold sector has lower to go. Notice how all of the various moving averages (the squiggly lines on the chart) are in a bearish formation with the 9-day exponential moving average (EMA) trading below the 20-day EMA, and the 20-day EMA below the 50-day moving average (MA) . This condition is going to make it hard for the GDX to mount a sustainable rally. And, if GDX makes another lower high and then turns back down to test the $26 support level again, the odds are high that support will fail this time. GDX has tested the $26 level five times in the past three months. Each test weakens the support level a bit. Its like when a person jumps up and down on a frozen lake. Each jump cracks the ice just a bit, until the ice finally breaks. Story continues I suspect the next trip down to $26 will break the ice for GDX. At that point, GDX should quickly drop towards the next support level near $25. And, that move should create the sort of exhaustive, oversold conditions that often mark the bottom of a gold stock correction. For now
GDX will probably pop a bit higher in the days ahead. But, it will be a short-lived bounce. The gold sector still has lower to go. And, most traders should stay on the sidelines. Best regards and good trading, Jeff Clark Reader Mailbag Today in the mailbag, subscribers disagree with Jeffs insidious thoughts
At times a brilliant man, Jeff Clark is carried away by impractical thoughts. Examples are: 1. His backing on Bitcoin . He has to save readers, not unintentionally push them into a deep river. 2. His prediction that the market would crash on a Monday in October 2019. He has to curb these insidious thoughts. Rakesh Jeff, Im thinking you are a perma-bear. I can see you thought 3020 on the SPX was the turnaround. Guess what? You got it so wrong. John Do you see the same downside ahead in the market that Jeff does? Or will the bull market just keep running higher? Send your thoughts along with any comments or questions to feedback@jeffclarktrader.com . In Case You Missed It
Available Now: New Retirement Blueprint from Americas Most Trusted Options Trader For the past 36 years, Jeff Clark has helped people retire wealthy
But he hasnt done it the usual way. He uses options. Options probably seem risky. Reckless, even. But his options strategy is different unlike anything youve probably seen before. It helped him retire at 42. And thousands of others have used it to make $10,000
$100,000
even $1 million or more in some rare cases. Which is why hes offering his never-before-released blueprint
and a year of his guidance
for just $19. Click here for all the details. More From InvestorPlace 2 Toxic Pot Stocks You Should Avoid 7 Stocks to Buy in December 7 Unsteady Stocks Investors Should Consider Selling Before 2020 7 Entertainment Stocks to Buy to Escape Holiday Blues The post Jeff Clarks Market Minute: The Ice Is Almost Broken appeared first on InvestorPlace . || Jeff Clark’s Market Minute: The Ice Is Almost Broken: The past four months have been tough for gold stock traders.
Source: Shutterstock
It didn’t matter if you were bullish or bearish on the sector. Gold stocks have frustrated both sides. Rallies have been short-lived, with each bounce topping out at a lower level than the previous peak. And, none of the declines have caused the sort of selling pressure that usually creates a good buying opportunity for the gold stocks.
• 7 Stocks to Buy in December
So, the sidelines have been the best place to be for the past few months…
InvestorPlace - Stock Market News, Stock Advice & Trading Tips
And, at least for the near future, the sidelines still look like the right spot.
Look at this updated chart of theVanEck Vectors Gold Miners Fund(GDX)…
GDX peaked in early September. It then fell all the way down near $26 per share. Ever since then, each rally has peaked at a lower level, and each decline has tested the same $26 level assupport. This action has created a “descending triangle” pattern on the chart. It’s a bearish pattern that usually breaks to the downside.
There is room inside the pattern for GDX to bounce a bit in the very short term. But, unless GDX can break the pattern of lower highs and close above $27.70 or so, the gold sector has lower to go.
Notice how all of the various moving averages (the squiggly lines on the chart) are in a bearish formation – with the 9-dayexponential moving average (EMA)trading below the 20-day EMA, and the 20-day EMA below the 50-daymoving average (MA). This condition is going to make it hard for the GDX to mount a sustainable rally. And, if GDX makes another lower high and then turns back down to test the $26 support level again, the odds are high that support will fail this time.
GDX has tested the $26 level five times in the past three months. Each test weakens the support level a bit. It’s like when a person jumps up and down on a frozen lake. Each jump cracks the ice just a bit, until the ice finally breaks.
I suspect the next trip down to $26 will break the ice for GDX. At that point, GDX should quickly drop towards the next support level near $25. And, that move should create the sort of exhaustive, oversold conditions that often mark the bottom of a gold stock correction.
For now… GDX will probably pop a bit higher in the days ahead. But, it will be a short-lived bounce. The gold sector still has lower to go. And, most traders should stay on the sidelines.
Best regards and good trading,
Jeff Clark
Today in the mailbag, subscribers disagree with Jeff’s “insidious thoughts”…
At times a brilliant man, Jeff Clark is carried away by impractical thoughts.
Examples are:
1. Hisbacking on Bitcoin. He has to save readers, not unintentionally push them into a deep river.2. Hisprediction that the market would crashon a Monday in October 2019.
He has to curb these insidious thoughts.
– Rakesh
Jeff, I’m thinking you are a perma-bear. I can see you thought 3020 on the SPX was the turnaround. Guess what? You got it so wrong.
– John
Do you see the same downside ahead in the market that Jeff does?Or will the bull market just keep running higher?
Send your thoughts – along with any comments or questions – tofeedback@jeffclarktrader.com.
Available Now: New Retirement Blueprint from America’s Most Trusted Options Trader
For the past 36 years, Jeff Clark has helped people retire wealthy… But he hasn’t done it the usual way.
He uses options.
Options probably seem risky. Reckless, even.
But his options strategy is different – unlike anything you’ve probably seen before.
It helped him retire at 42. And thousands of others have used it to make $10,000… $100,000… even $1 million or more – in some rare cases.
Which is why he’s offering his never-before-released blueprint… and a year of his guidance… for just $19.
Click here for all the details.
• 2 Toxic Pot Stocks You Should Avoid
• 7 Stocks to Buy in December
• 7 Unsteady Stocks Investors Should Consider Selling Before 2020
• 7 Entertainment Stocks to Buy to Escape Holiday Blues
The postJeff Clark’s Market Minute: The Ice Is Almost Brokenappeared first onInvestorPlace. || Northern Bitcoin Share Included in MSCI Index: - New constituent in MSCI Germany Index
- Inclusion leads to more liquid trading in the share
- Index membership increases attractiveness for institutional investors
FRANKFURT, GERMANY / ACCESSWIRE / November 27, 2019/ Northern Bitcoin AG (XETRA:NB2, ISIN: DE000A0SMU87) has been included in one of its recognized indices by US financial services provider MSCI Inc. The shares of Northern Bitcoin AG were included in the MSCI Global Micro Cap Index "MSCI Germany Index" on November 26 after the close of trading. The MSCI Germany Index measures the performance of the German stock market.
"The inclusion in the renowned MSCI Germany Index is an important milestone for the Northern Bitcoin share and a great success for our company on the capital market," explains Aroosh Thillainathan, CEO designate of Northern Bitcoin AG. "As a result of this index inclusion, our shares are more liquid, making them more attractive for institutional investors in particular."
New York-based MSCI Inc. is a leading global provider of investment decision support applications. MSCI products and services include indices, portfolio risk and valuation methods, and securities portfolio management applications. Among the outstanding products of the US financial services provider are the MSCI indices.
Northern Bitcoin AG, based in Frankfurt, started in 2018 as a sustainable Bitcoin Miner and is recording a rapid growth thanks to the strong global distribution of Bitcoin and its blockchain. The Company among other things operates a mining site based on renewable energy sources in Norway and benefits from the rapid adaptation of Bitcoin as "digital gold" and a new asset class. The merger with Whinstone US and the associated new facilities in the USA will make the Company one of the most important market players in the blockchain infrastructure sector. On an area of 100 acres (equivalent to around 57 soccer fields), the largest data center in North America and the largest Bitcoin mining facility in the world are built in three phases.
About Northern Bitcoin:
Northern Bitcoin AG is a technology company focused on the Bitcoin blockchain. It is challenging the status quo of Bitcoin mining and redefining it. As a pioneer, it provides Bitcoin and blockchain technology with a sustainable infrastructure. To this end, it operates its own state-of-the-art mining hardware based on renewable energy sources under extremely cost-efficient and secure conditions as well as a self-developed mining pool. The company is headquartered in Frankfurt am Main. Further information underwww.northernbitcoin.com.
Disclaimer:
This press release represents neither an offer to sell nor a request to submit an offer to purchase Northern Bitcoin AG securities; nor does it constitute a securities prospectus for Northern Bitcoin AG. The information contained in this press release is not intended to serve as a basis for financial, legal, tax-related or other business decisions. Investment or other decisions should not be taken solely on the basis of this press release. As in all business and investment matters, please seek qualified professional advice. This press release and the information it contains are not intended for direct or indirect communication to or within the United States of America, Canada, Australia or Japan.
Press Contact:Northern Bitcoin AGDr. Hans Joachim DürrHead of Corporate CommunicationsThurn-und-Taxis-Platz 660313 FrankfurtMail:h.duerr@northernbitcoin.comPhone: +49 69 348 752 89
Investor Relations:Sven PaulyMail:ir@northernbitcoin.comPhone: +49 89 125 09 03 31
SOURCE:Northern Bitcoin AG
View source version on accesswire.com:https://www.accesswire.com/568267/Northern-Bitcoin-Share-Included-in-MSCI-Index || Northern Bitcoin Share Included in MSCI Index: - New constituent in MSCI Germany Index
- Inclusion leads to more liquid trading in the share
- Index membership increases attractiveness for institutional investors
FRANKFURT, GERMANY / ACCESSWIRE / November 27, 2019/ Northern Bitcoin AG (XETRA:NB2, ISIN: DE000A0SMU87) has been included in one of its recognized indices by US financial services provider MSCI Inc. The shares of Northern Bitcoin AG were included in the MSCI Global Micro Cap Index "MSCI Germany Index" on November 26 after the close of trading. The MSCI Germany Index measures the performance of the German stock market.
"The inclusion in the renowned MSCI Germany Index is an important milestone for the Northern Bitcoin share and a great success for our company on the capital market," explains Aroosh Thillainathan, CEO designate of Northern Bitcoin AG. "As a result of this index inclusion, our shares are more liquid, making them more attractive for institutional investors in particular."
New York-based MSCI Inc. is a leading global provider of investment decision support applications. MSCI products and services include indices, portfolio risk and valuation methods, and securities portfolio management applications. Among the outstanding products of the US financial services provider are the MSCI indices.
Northern Bitcoin AG, based in Frankfurt, started in 2018 as a sustainable Bitcoin Miner and is recording a rapid growth thanks to the strong global distribution of Bitcoin and its blockchain. The Company among other things operates a mining site based on renewable energy sources in Norway and benefits from the rapid adaptation of Bitcoin as "digital gold" and a new asset class. The merger with Whinstone US and the associated new facilities in the USA will make the Company one of the most important market players in the blockchain infrastructure sector. On an area of 100 acres (equivalent to around 57 soccer fields), the largest data center in North America and the largest Bitcoin mining facility in the world are built in three phases.
About Northern Bitcoin:
Northern Bitcoin AG is a technology company focused on the Bitcoin blockchain. It is challenging the status quo of Bitcoin mining and redefining it. As a pioneer, it provides Bitcoin and blockchain technology with a sustainable infrastructure. To this end, it operates its own state-of-the-art mining hardware based on renewable energy sources under extremely cost-efficient and secure conditions as well as a self-developed mining pool. The company is headquartered in Frankfurt am Main. Further information underwww.northernbitcoin.com.
Disclaimer:
This press release represents neither an offer to sell nor a request to submit an offer to purchase Northern Bitcoin AG securities; nor does it constitute a securities prospectus for Northern Bitcoin AG. The information contained in this press release is not intended to serve as a basis for financial, legal, tax-related or other business decisions. Investment or other decisions should not be taken solely on the basis of this press release. As in all business and investment matters, please seek qualified professional advice. This press release and the information it contains are not intended for direct or indirect communication to or within the United States of America, Canada, Australia or Japan.
Press Contact:Northern Bitcoin AGDr. Hans Joachim DürrHead of Corporate CommunicationsThurn-und-Taxis-Platz 660313 FrankfurtMail:h.duerr@northernbitcoin.comPhone: +49 69 348 752 89
Investor Relations:Sven PaulyMail:ir@northernbitcoin.comPhone: +49 89 125 09 03 31
SOURCE:Northern Bitcoin AG
View source version on accesswire.com:https://www.accesswire.com/568267/Northern-Bitcoin-Share-Included-in-MSCI-Index || Northern Bitcoin Share Included in MSCI Index: - New constituent in MSCI Germany Index - Inclusion leads to more liquid trading in the share - Index membership increases attractiveness for institutional investors FRANKFURT, GERMANY / ACCESSWIRE / November 27, 2019 / Northern Bitcoin AG (XETRA:NB2, ISIN: DE000A0SMU87) has been included in one of its recognized indices by US financial services provider MSCI Inc. The shares of Northern Bitcoin AG were included in the MSCI Global Micro Cap Index "MSCI Germany Index" on November 26 after the close of trading. The MSCI Germany Index measures the performance of the German stock market. "The inclusion in the renowned MSCI Germany Index is an important milestone for the Northern Bitcoin share and a great success for our company on the capital market," explains Aroosh Thillainathan, CEO designate of Northern Bitcoin AG. "As a result of this index inclusion, our shares are more liquid, making them more attractive for institutional investors in particular." New York-based MSCI Inc. is a leading global provider of investment decision support applications. MSCI products and services include indices, portfolio risk and valuation methods, and securities portfolio management applications. Among the outstanding products of the US financial services provider are the MSCI indices. Northern Bitcoin AG, based in Frankfurt, started in 2018 as a sustainable Bitcoin Miner and is recording a rapid growth thanks to the strong global distribution of Bitcoin and its blockchain. The Company among other things operates a mining site based on renewable energy sources in Norway and benefits from the rapid adaptation of Bitcoin as "digital gold" and a new asset class. The merger with Whinstone US and the associated new facilities in the USA will make the Company one of the most important market players in the blockchain infrastructure sector. On an area of 100 acres (equivalent to around 57 soccer fields), the largest data center in North America and the largest Bitcoin mining facility in the world are built in three phases. About Northern Bitcoin: Northern Bitcoin AG is a technology company focused on the Bitcoin blockchain. It is challenging the status quo of Bitcoin mining and redefining it. As a pioneer, it provides Bitcoin and blockchain technology with a sustainable infrastructure. To this end, it operates its own state-of-the-art mining hardware based on renewable energy sources under extremely cost-efficient and secure conditions as well as a self-developed mining pool. The company is headquartered in Frankfurt am Main. Further information under www.northernbitcoin.com . Story continues Disclaimer: This press release represents neither an offer to sell nor a request to submit an offer to purchase Northern Bitcoin AG securities; nor does it constitute a securities prospectus for Northern Bitcoin AG. The information contained in this press release is not intended to serve as a basis for financial, legal, tax-related or other business decisions. Investment or other decisions should not be taken solely on the basis of this press release. As in all business and investment matters, please seek qualified professional advice. This press release and the information it contains are not intended for direct or indirect communication to or within the United States of America, Canada, Australia or Japan. Press Contact: Northern Bitcoin AG Dr. Hans Joachim Dürr Head of Corporate Communications Thurn-und-Taxis-Platz 6 60313 Frankfurt Mail: h.duerr@northernbitcoin.com Phone: +49 69 348 752 89 Investor Relations: Sven Pauly Mail: ir@northernbitcoin.com Phone: +49 89 125 09 03 31 SOURCE: Northern Bitcoin AG View source version on accesswire.com: https://www.accesswire.com/568267/Northern-Bitcoin-Share-Included-in-MSCI-Index View comments || Charities Put a Bitcoin Twist on Giving Tuesday: Don’t just Hodl bitcoin this year, donate it.
Charities are leaning into the blockchain space this year with #BitcoinTuesday, a sideways take on the philanthropy movement following Thanksgiving, Black Friday and Cybermonday (Dec 3).
Drawing inspiration from one crypto’s more heartwarming stories, thePineapple Fund– wherein a pseudonymous bitcoiner donated some $55 million towards 60 charities during the 2017 bull market – options for crypto-based donations abound.
Related:Bitcoin Is Looking at a Short-Term Bull Reversal if Prices Pass $7,400
“The fact that there were talking about an open-source distributed, user-created project that doesn’t have central ownership seems like a perfect product market matc†h,” said Woodrow Rosenbaum, GivingTuesday’s Data & Insights Lead in a phone.
Launched in 2012 by 92nd Street Y and the United Nations Foundation, GivingTuesday received early attention from Mashable, Facebook and Microsoft and raised some $400 million in the U.S. last year, according to theGivingTuesdayfoundation.
The Giving Block, a for profit firm founded in 2018, is spearheading this year’s rendition of crypto Giving Tuesday with#BitcoinTuesday.
Rounding up support from Gemini and Brave Browser, among others, the technology company is orchestrating aid for nonprofits such as No Kid Hungry, the Tor Project and Pencils of Promise.
Related:Keep Calm and HODL On? 3 Reasons to Look Past Bitcoin’s Price Rout
The D.C.-based group is leaning on crypto’s favorable tax status. As with stock donations, donors need pay no capital gains on what they give.
“In times of crisis, to reach those lofty ambitions, we need to be friendly not only to traditional financing mechanisms, but to the crypto community who’s been very innovative,” said Ettore Rossetti, global digital lead ofSave the Childrenin a phone interview.
Founded in 1919, Save the Children has accepted crypto donations since 2013. “We feel like children will win if we can unlock new forms of funding,” he said.
You can also give throughBitGive, one of the oldest crypto-specific non-profits in the field.
Founded in 2013, BitGive uses bitcoin’s blockchain and works with smart contract provider RSK. ItsGiveTrackproject follows donated money, showing who it benefits. The charity collects less than one percent in fees for processing transactions, according to its website.
“It’s a way to be transparent,” said BitGive founder Connie Gallipi in a phone interview. “It says this project was created on this day in this time, this NGO was added on this day in this time and we checked the bitcoin rate on this day at this time,” she said.
BitGive currently sponsors personally vetted NGOs across the globe, including three projects in Venezuela focusing on orphanages, hospitals, and abandoned animals.
CryptoGivingTuesday, a community coalition spun out of the GivingTuesday organization, is another destination for donations.
Through its service, donations can be made in multiple cryptos to NGOs and non-profits including bitcoin (BTC), ether (ETH), litecoin (LTC), dash (DASH), the lightning network, binance coin (BNB), bitcoin cash (BCH) and XRP.
GivingTuesday takes a decentralized approach to its campaigns. Communities often adopt GivingTuesday’s branding to promote a campaign in their niche, Rosenbaum said.
“Some of these big payment processor platforms like Facebook and PayPal use GivingTuesday as a great way for them to engage [with their audience],” he said. “So we’ll give people best practices. We want to hear how their campaigns went, learn about their results and bring them into that network.”
UPDATE (Nov 27, 16:10 UTC): A prior version of this story said the Giving Block is a nonprofit. It is a technology firm working with nonprofits.
• As Bitcoin Bounces Back Above $7K, Popular Analysts Say Monthly Close Is Pivotal
• Bear Breather? Bitcoin Looks Oversold After 50% Price Drop Since June
[Social Media Buzz]
None available.
|
7761.24, 7569.63, 7424.29, 7321.99, 7320.15, 7252.03, 7448.31, 7547.00, 7556.24, 7564.35
|
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 453.38, 473.46, 530.04, 526.23, 533.86, 531.39, 536.92, 537.97, 569.19, 572.73, 574.98, 585.54, 576.60, 581.65, 574.63, 577.47, 606.73, 672.78, 704.38, 685.56, 694.47, 766.31, 748.91, 756.23, 763.78, 737.23, 666.65, 596.12, 623.98, 665.30, 665.12, 629.37, 655.28, 647.00, 639.89, 673.34, 676.30, 703.70, 658.66, 683.66, 670.63, 677.33, 640.56, 666.52, 650.96, 649.36, 647.66, 664.55, 654.47, 658.08, 663.26, 660.77, 679.46, 673.11, 672.86, 665.68, 665.01, 650.62, 655.56, 661.28, 654.10, 651.78, 654.35, 655.03, 656.99, 655.05, 624.68, 606.27, 547.47, 566.35, 578.29, 575.04, 587.78, 592.69, 591.05, 587.80, 592.10, 589.12, 587.56, 585.59, 570.47, 567.24, 577.44, 573.22, 574.32, 575.63, 581.70, 581.31, 586.75, 583.41.
|
[Bitcoin Technical Analysis for 2016-08-23]
Volume: 85349200, RSI (14-day): 43.89, 50-day EMA: 604.42, 200-day EMA: 533.63
[Wider Market Context]
Gold Price: 1340.60, Gold RSI: 51.62
Oil Price: 48.10, Oil RSI: 62.26
[Recent News (last 7 days)]
Verizon is making a foray into the 'game changer' technology Wall Street is pumped about: verizon (REUTERS/Steve Marcus) Verizon Communications, the largest telecommunications company in the US, is experimenting with blockchain technology. Blockchain technology, which powers Bitcoin and other cryptocurrencies, depends on a distributed ledger that allows users to verify transactions without an intermediary. Autonomous Research has called the technology a " game changer ," and Goldman Sachs has said that the technology " has the potential to redefine transactions ." Blockchain has tons of applications that are being explored by banks, startups, exchanges, and corporations that want to get in on the action. Business Insider obtained a copy of the US patent, filed on May 10, for a passcode blockchain that Verizon has apparently been working on for three years. The patent relates to digital content think an e-book or a digital-music or video file. Verizon declined to comment. Here is a passage from the filing: "The DRM (digital rights management) system may maintain a list of passcodes in a passcode blockchain . The passcode blockchain may store a sequence of passcodes associated with the particular digital content and may indicate a currently valid passcode. For example, a first passcode may be assigned to a first user and designated as the valid passcode. If the access rights are transferred to a second user, a second passcode may be obtained and added to the blockchain , provided to the second user, and designated as the valid passcode. Thus, the first passcode may no longer be considered valid. If the second user transfers the access rights to a third user, a third passcode may be obtained and added to the blockchain , provided to the third user, and designated as the valid passcode. Thus, the first and second passcodes may no longer be considered valid. "Furthermore, the expiration date associated with the key may continue to be in effect with respect to the second user and/or any subsequent users. Thus, if access rights for a particular digital content are associated with a rental period, or a subscription period, users may continue to transfer the rights to other users during the rental period." There is quite a bit of excitement about having digital rights on a blockchain-type system. It could allow for pay-per-usage, for example, while smart contracts the contractual clauses that form part of a transaction could provide automatic payment distributions, according to a Moody's Investors Service report. A blockchain of digital rights for consumer products music and news articles, among others could ensure that artists or authors are paid immediately once a consumer reads an article or listens to a song, with funds proportionally distributed as per contractual clauses. Story continues Given lower transaction costs on a blockchain, micro-payments through a blockchain would be more feasible, allowing for a pay-per-usage setup each time an article is read or a song is listened to. NOW WATCH: Verizon CEO Lowell McAdam explains why he bought AOL More From Business Insider GARTNER: The blockchain 'hype' has peaked Blockchain and bitcoin companies raised $290 million in the last 6 months World Economic Forum releases blockchain report View comments || Verizon is making a foray into the 'game changer' technology Wall Street is pumped about: (REUTERS/Steve Marcus)
Verizon Communications, the largest telecommunications company in the US, is experimenting with blockchain technology.
Blockchain technology, which powers Bitcoin and other cryptocurrencies, depends on a distributed ledger that allows users to verify transactions without an intermediary.
Autonomous Research has called the technology a "game changer," and Goldman Sachs has said that the technology "has the potential to redefine transactions."
Blockchain has tons of applications that are beingexplored by banks, startups, exchanges, and corporationsthat want to get in on the action.
Business Insider obtained a copy of the US patent, filed on May 10, for a passcode blockchain that Verizon has apparently been working on for three years.
The patent relates to digital content — think an e-book or a digital-music or video file. Verizon declined to comment.
Here is a passage from the filing:
"The DRM (digital rights management) system may maintain a list of passcodes in a passcodeblockchain. The passcodeblockchainmay store a sequence of passcodes associated with the particular digital content and may indicate a currently valid passcode. For example, a first passcode may be assigned to a first user and designated as the valid passcode. If the access rights are transferred to a second user, a second passcode may be obtained and added to theblockchain,provided to the second user, and designated as the valid passcode. Thus, the first passcode may no longer be considered valid. If the second user transfers the access rights to a third user, a third passcode may be obtained and added to theblockchain,provided to the third user, and designated as the valid passcode. Thus, the first and second passcodes may no longer be considered valid.
"Furthermore, the expiration date associated with the key may continue to be in effect with respect to the second user and/or any subsequent users. Thus, if access rights for a particular digital content are associated with a rental period, or a subscription period, users may continue to transfer the rights to other users during the rental period."
There is quite a bit of excitement about having digital rights on a blockchain-type system. It could allow for pay-per-usage, for example, while smart contracts — the contractual clauses that form part of a transaction — could provide automatic payment distributions, according to a Moody's Investors Service report.
A blockchain of digital rights for consumer products — music and news articles, among others — could ensure that artists or authors are paid immediately once a consumer reads an article or listens to a song, with funds proportionally distributed as per contractual clauses.
Given lower transaction costs on a blockchain, micro-payments through a blockchain would be more feasible, allowing for a pay-per-usage setup each time an article is read or a song is listened to.
NOW WATCH:Verizon CEO Lowell McAdam explains why he bought AOL
More From Business Insider
• GARTNER: The blockchain 'hype' has peaked
• Blockchain and bitcoin companies raised $290 million in the last 6 months
• World Economic Forum releases blockchain report || Aug. 24, 2015 Flash Crash Part Of Wall St. History: August 24, 2015: It's a date that has earned its place in “notable days on Wall Street.” Nearly a year ago today, the S&P 500 dropped as much as 5.3%, capping off a weeklong rout that roiled markets around the world.
While not as devastating as something like Black Monday in 1987―when U.S. stocks dropped 20% in a single session―or when markets reopened after 9/11 on Sept. 17, 2001―the events last Aug. 24were enough to etch that date into the history books.
Fueled by China-related economic fears, the drop in the stock market that day ended a period in which the market was uncharacteristically tranquil. Up until that point, the S&P 500 hadn't seen a correction (unofficially considered a sell-off of 10% or more) in about four years. That was the third-longest such streak in history.
Panic Attack
The drop on Aug. 24 quickly put an end to that, while pushing investors from a state of complacency to panic in one fell swoop.
Chart courtesy ofStockCharts.com
In the ETF world, the panic was especially palpable. Dozens of exchange-traded funds briefly tradedwell below the valueof their underlying assets that day, fueling criticism that regulators and the industry weren't doing enough to protect investors.
Today, nearly a year after the Aug. 24 plunge, investors can now take a step back and look at the bigger picture. What, if anything, has changed since that tumultuous day―both on a macro level and in terms of the ETF industry?
China Still A Wild Card
The correction of August 2015 was the first of two major stock market sell-offs that were spurred on by events in China (the other was this past January:Investors Flood Safe Haven ETFs).
At the time, the prevailing narrative was that China's economy was in a free fall, and that a 1997-style Asian financial crisis was imminent. A year later, it's clear that those fears were unfounded. There has yet to be any financial or economic shock in China, and the country is seldom mentioned in the top financial headlines today.
But while a crisis has yet to hit, there are many open questions regarding the state of China's economy. The Chinese government took a number of measures―including banning short-selling in the country's stock market, halting the trading of more than 1,000 stocks and cutting interest rates six times in a year―to stabilize the situation.
Doubtable Data
Yet even with those measures, China's economy continues to slow, and perhaps more dramatically than the official figures indicate. Many analysts question the veracity of the economic data that comes out of the country, which is troubling for investors.
Hedge fund managers Kyle Bass, Paul Singer and others believe that it's only a matter of time before China faces a severe downturn that will be worse than the U.S. financial crisis. Others envision a rosier "soft landing" scenario for the world's second-largest economy.
In any case, the outlook for China is no clearer today than it was a year ago, despite the recovery in global stock markets.
ETFs Had A Bad DayMeanwhile, the other big story from Aug. 24, 2015—the "mini flash crash" in ETFs—didn't do much, if anything, to derail the exchange-traded fund industry. U.S.-listed ETF assets are at record highs—above $2.4 trillion—and the investment vehicle continuesto flourish at the expense of mutual funds.
Nevertheless, there is a bit of trepidation that another flash crash could hit ETFs again down the line. On Aug. 24, 2015, many ETFs―including those with billions of dollars in assets such as theGuggenheim S&P 500 Equal Weight ETF (RSP)and theiShares Select Dividend ETF (DVY)―fell significantly below their net asset values during the first hour of trading.
Dave Nadig, director of ETFs for FactSet, wrote shortly after the event that a combination of "market makers stepping away" and high-frequency trading may havecontributed to the unusual price actionthat day.
Has anything been done to prevent this situation from unfolding again in the future?
According to Nadig, change may be coming, but probably not from regulators.
Regulatory Gridlock Persists
"In terms of actual regulatory change, not much has changed since August 24th last year," he told ETF.com. "Senate recalcitrance means the SEC is operating two commissioners down (5 of 7) and the CFTC is effectively stalled from doing any meaningful work (down to 3 of 5)," he said.
Instead, it looks like change may be coming from exchanges, according to Nadig: "Several folks signed a letter to the SEC (myself included) asking for some common sense reforms on how markets open, halt and re-open, and the exchanges have taken it a step further."
"Material improvements to the opening process after halts have already been implemented," said Bryan Harkins, EVP and head of U.S. Markets for Bats Global Markets, the largest exchange for ETF trading by market volume, and owner of ETF.com.
"In addition, exchanges have individually, and collectively, made a number of changes around the start of the day—including revising the limit up limit down (LULD) reference price—to ensure a smoother open. As a result, we’ve seen a marked reduction in the number of LULD pauses,” he added.
While it's impossible to rule out another flash crash and extreme price volatility, Harkins says the U.S. market structure is "materially stronger" as a result of the changes made in the past year.
(For more, read:Exchanges Propose New Unified Trading Rules)
Contact Sumit Roy atsroy@etf.com.
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Permalink| © Copyright 2016ETF.com.All rights reserved || The fintech ecosystem explained: FintechShapingtheFuture (Shutterstock) We’ve entered the most profound era of change for financial services companies since the 1970s brought us index mutual funds, discount brokers and ATMs. No firm is immune from the coming disruption and every company must have a strategy to harness the powerful advantages of the new financial technology (“fintech”) revolution. The battle already underway will create surprising winners and stunned losers among some of the most powerful names in the financial world: The most contentious conflicts (and partnerships) will be between startups that are completely reengineering decades-old practices, traditional power players who are furiously trying to adapt with their own innovations, and total disruption of established technology & processes: Traditional Retail Banks vs. Online-Only Banks: Traditional retail banks provide a valuable service, but online-only banks can offer many of the same services with higher rates and lower fees Traditional Lenders vs. Peer-to-Peer Marketplaces : P2P lending marketplaces are growing much faster than traditional lenders—only time will tell if the banks strategy of creating their own small loan networks will be successful Traditional Asset Managers vs. Robo-Advisors : Robo-advisors like Betterment offer lower fees, lower minimums and solid returns to investors, but the much larger traditional asset managers are creating their own robo-products while providing the kind of handholding that high net worth clients are willing to pay handsomely for. As you can see, this very fluid environment is creating winners and losers before your eyes…and it’s also creating the potential for new cost savings or growth opportunities for both you and your company. After months of researching and reporting this important trend, Evan Bakker, research analyst for BI Intelligence , Business Insider's premium research service, has put together an essential briefing that explains the new landscape, identifies the ripest areas for disruption, and highlights the some of the most exciting new companies. These new players have the potential to become the next Visa, Paypal or Charles Schwab because they have the potential to transform important areas of the financial services industry like: Story continues Retail banking Lending and Financing Payments and Transfers Wealth and Asset Management Markets and Exchanges Insurance Blockchain Transactions If you work in any of these sectors, it’s important for you to understand how the fintech revolution will change your business and possibly even your career. And if you’re employed in any part of the digital economy, you’ll want to know how you can exploit these new technologies to make your employer more efficient, flexible and profitable. Among the big picture insights you’ll get from this new report, titled The Fintech Ecosystem Report : Measuring the effects of technology on the entire financial services industry : Why financial technology is so disruptive to financial services—it will soon change the nature of almost every financial activity, from banking to payments to wealth management. The basic conflict will be between old firms and new—startups are re-imagining financial services processes from top to bottom, while incumbent financial services firms are trying to keep up with new products of their own. Both sides face serious obstacles—traditional banks and financial services firms are investing heavily in innovation, but leveraging their investments is difficult with so much invested in legacy systems and profit centers. Meanwhile, startups are struggling to navigate a rapidly-changing regulatory landscape and must scale up quickly with limited resources. The blockchain is a wild card that could completely overhaul financial services. Both major banks and startups around the world are exploring the technology behind the blockchain, which stores and records Bitcoin transactions. This technology could lower the cost of many financial activities to near-zero and could wipe away many traditional banking activities completely. This exclusive report also: Explains the main growth drivers of the exploding fintech ecosystem. Frames the challenges and opportunities faced by incumbents and startups. Breaks down global and regional fintech investments, including which regions are the most significant and which are poised for the highest growth. Reveals which two financial services are garnering the most investment, and are therefore likely to be transformed first and fastest by fintech Explains why blockchain technology is critically important to banks and startups, and assesses which players stand to gain the most from it. Explores the financial sectors facing disruption and breaks them down in terms of investments, vulnerabilities and growth opportunities. And much more. The Fintech Ecosystem Report : Measuring the effects of technology on the entire financial services industry is how you get the full story on the fintech revolution. To get your copy of this invaluable guide to the fintech revolution, choose one of these options: BEST VALUE : Join our BI Intelligence INSIGHTS service level and gain immediate access to this report PLUS much more. >> START A MEMBERSHIP Purchase the report and download it immediately from our research store. >> BUY THE REPORT The choice is yours. But however you decide to acquire this report, you’ve given yourself a powerful advantage in your understanding of the fast-moving world of financial technology. More From Business Insider UK digital bank Mondo lays out plan to get full banking license Goldman Sachs' online bank gains momentum THE REGTECH REPORT: Global regulatory requirements are creating a huge opportunity for regtech firms || The fintech ecosystem explained: (Shutterstock)
We’ve entered the most profound era of change for financial services companies since the 1970s brought us index mutual funds, discount brokers and ATMs.
No firm is immune from the coming disruption and every company must have a strategy to harness the powerful advantages of the new financial technology (“fintech”) revolution.
The battle already underway will create surprising winners and stunned losers among some of the most powerful names in the financial world: The most contentious conflicts (and partnerships) will be between startups that are completely reengineering decades-old practices, traditional power players who are furiously trying to adapt with their own innovations, and total disruption of established technology & processes:
• Traditional Retail Banks vs. Online-Only Banks:Traditional retail banks provide a valuable service, but online-only banks can offer many of the same services with higher rates and lower fees
• Traditional Lenders vs. Peer-to-Peer Marketplaces: P2P lending marketplaces are growing much faster than traditional lenders—only time will tell if the banks strategy of creating their own small loan networks will be successful
• Traditional Asset Managers vs. Robo-Advisors: Robo-advisors like Betterment offer lower fees, lower minimums and solid returns to investors, but the much larger traditional asset managers are creating their own robo-products while providing the kind of handholding that high net worth clients are willing to pay handsomely for.
As you can see, this very fluid environment is creating winners and losers before your eyes…and it’s also creating the potential for new cost savings or growth opportunities for both you and your company.
After months of researching and reporting this important trend, Evan Bakker, research analyst forBI Intelligence, Business Insider's premium research service, has put together an essential briefing that explains the new landscape, identifies the ripest areas for disruption, and highlights the some of the most exciting new companies. These new players have the potential to become the next Visa, Paypal or Charles Schwab because they have the potential to transform important areas of the financial services industry like:
• Retail banking
• Lending and Financing
• Payments and Transfers
• Wealth and Asset Management
• Markets and Exchanges
• Insurance
• Blockchain Transactions
If you work in any of these sectors, it’s important for you to understand how the fintech revolution will change your business and possibly even your career. And if you’re employed in any part of the digital economy, you’ll want to know how you can exploit these new technologies to make your employer more efficient, flexible and profitable.
Among the big picture insights you’ll get from this new report, titledThe Fintech Ecosystem Report: Measuring the effects of technology on the entire financial services industry:
• Why financial technology is so disruptive to financial services—it will soon change the nature of almost every financial activity, from banking to payments to wealth management.
• The basic conflict will be between old firms and new—startups are re-imagining financial services processes from top to bottom, while incumbent financial services firms are trying to keep up with new products of their own.
• Both sides face serious obstacles—traditional banks and financial services firms are investing heavily in innovation, but leveraging their investments is difficult with so much invested in legacy systems and profit centers.
• Meanwhile, startups are struggling to navigate a rapidly-changing regulatory landscape and must scale up quickly with limited resources.
• The blockchain is a wild card that could completely overhaul financial services. Both major banks and startups around the world are exploring the technology behind the blockchain, which stores and records Bitcoin transactions. This technology could lower the cost of many financial activities to near-zero and could wipe away many traditional banking activities completely.
This exclusive report also:
• Explains the main growth drivers of the exploding fintech ecosystem.
• Frames the challenges and opportunities faced by incumbents and startups.
• Breaks down global and regional fintech investments, including which regions are the most significant and which are poised for the highest growth.
• Reveals which two financial services are garnering the most investment, and are therefore likely to be transformed first and fastest by fintech
• Explains why blockchain technology is critically important to banks and startups, and assesses which players stand to gain the most from it.
• Explores the financial sectors facing disruption and breaks them down in terms of investments, vulnerabilities and growth opportunities.
• And much more.
The Fintech Ecosystem Report: Measuring the effects of technology on the entire financial services industryis how you get the full story on the fintech revolution.
To get your copy of this invaluable guide to the fintech revolution, choose one of these options:
1. BEST VALUE: Join our BI Intelligence INSIGHTS service level and gain immediate access to this report PLUS much more. >>START A MEMBERSHIP
2. Purchase the report and download it immediately from our research store. >>BUY THE REPORT
The choice is yours. But however you decide to acquire this report, you’ve given yourself a powerful advantage in your understanding of the fast-moving world of financial technology.
More From Business Insider
• UK digital bank Mondo lays out plan to get full banking license
• Goldman Sachs' online bank gains momentum
• THE REGTECH REPORT: Global regulatory requirements are creating a huge opportunity for regtech firms || The NSA cyber-weapon auction is a total smokescreen — here's what's really going on: NSA spying surveillance (Josh Mayeux, a network defender, works at the US Air Force Space Command Network Operations A group calling itself the "Shadow Brokers" claimed earlier this week that it hacked into the US National Security Agency and stole an apparent treasure trove of exploits and hacking tools that it is now trying to auction off . But experts say that this is all a smokescreen for a not-so-subtle message from Moscow to Washington: Don't mess with us. "It's a smokescreen, there's nothing real about this," John Schindler, a former NSA analyst and counterintelligence officer, told Business Insider. "This is Moscow's way of upping the ante in the spy war, and sending a message no one can miss [which is] 'we have you penetrated, we've got you by the balls, don't push us.'" He added: "The Russians are making a power play because they think they can right now." The previously-unknown Shadow Brokers created a number of social-media accounts earlier this month on Reddit, Github, Twitter, and Imgur, before announcing on August 13 its "cyber weapon auction," which promised bidders a "full state sponsor tool set" from a hacking unit believed to be within the NSA known only as "The Equation Group." It released a 234-megabyte archive on various file-sharing sites with one-half being free to view and use — which numerous experts say is legitimate — while the other half was encrypted. The winner of the auction, the group said, would get the decryption key. But an auction for hacking tools and exploits is not something that ever happens, experts say . Instead, exploits are bought and sold on the black market for hundreds of thousands and sometimes millions of dollars, in private. There's something else going on here, and it seems like it has nothing to do with a hacking group looking for cash. nsa (Reuters) Auction files 'better than Stuxnet' In the announcement of its auction, Shadow Brokers seemed to ensure that no one would seriously consider bidding on the other half of its treasure trove, which it claims has within it software that is better than "Stuxnet" — the US-Israeli malware that destroyed Iranian nuclear centrifuges. Story continues Its FAQ tells bidders that they are going to lose their Bitcoin, no matter what they do. If you win the auction, you'll get the files, but if you lose the auction, you don't get the files — and you don't get your Bitcoin back. "Sorry lose bidding war lose bitcoin and files," the group wrote. That's probably why the so-called auction hasn't moved anywhere close to the group's goal of 1 million Bitcoin, or roughly $575 million. The high bid is currently 1.629 Bitcoin, a surprisingly low figure for a software package that, if it were "better than Stuxnet," would contain a number of unknown software exploits called "zero days," each of which can be sold for $100,000 or more on the black market. "This auction is one of the more bizarre things that I've ever seen in this space. People who buy and sell exploits would not just dump money into an auction," a source who used to work for the NSA's elite hacker unit, Tailored Access Operations, told Business Insider on condition of anonymity in order to discuss sensitive matters. "It kind of makes no sense." "The low Bitcoin offers are pretty amusing though," Dr. Peter Singer, a strategist at the think tank New America and coauthor of " Ghost Fleet ," told Business Insider in an email. Further, the website WikiLeaks apparently has the full archive and says that it will release its own "pristine copy in due course." WikiLeaks did not respond to an email from Business Insider asking when that release would be. This just "shows the fraud of the whole Bitcoin angle," Schindler said. A view through a construction fence shows the Kremlin towers and St. Basil's Cathedral on a hot summer day in central Moscow, Russia, July 1, 2016. REUTERS/Maxim Zmeyev/File Photo (The Kremlin towers and St. Basil's Cathedral in Moscow.Thomson Reuters) 'Conventional wisdom indicates Russian responsibility' Former NSA contractor Edward Snowden offered his opinion on the underlying message behind the "auction" in a series of tweets on Tuesday, notably pointing the finger at Russia as being behind it. After cybersecurity firm CrowdStrike said that it uncovered two different state-sponsored Russian hacking groups inside the servers of the Democratic National Committee in June , Snowden wrote that "if Russia hacked the DNC, they should be condemned for it," and then chided the US for not releasing evidence that he believed the NSA had that would prove it. That "smoking gun" evidence never came, though a number of US political and intelligence officials have said that the DNC hack was at the Kremlin's direction. "Circumstantial evidence and conventional wisdom indicates Russian responsibility," wrote Snowden of this latest breach, adding, "This leak looks like somebody sending a message that an escalation in the attribution game could get messy fast." How messy? According to Snowden, the fully-leaked toolkit — from 2013 — could offer insight into previous hacks carried out by the NSA, or it could be reverse-engineered to help adversaries detect them in the future. Even Schindler, the former NSA analyst who's an outspoken critic of Snowden, agrees with Snowden's finding on the overt message, though he doesn't think that leaked tools will have any significant effect on future NSA operations. "This stuff has all been changed," Schindler said. "Three years is a long time in cyber ops, because that's not the point. The point is to show NSA that we've got you by the balls." NOW WATCH: FORMER NSA DIRECTOR: America is ‘really good’ at stealing data from other countries More From Business Insider Experts think Russia has leaked NSA cyberweapons online Here's why the supposed NSA 'hack' is unlike anything we've ever seen before EDWARD SNOWDEN: Russia might have leaked alleged NSA cyberweapons as a 'warning' || The NSA cyber-weapon auction is a total smokescreen — here's what's really going on: (Josh Mayeux, a network defender, works at the US Air Force Space Command Network Operations
A group calling itself the "Shadow Brokers" claimed earlier this week that it hacked into the US National Security Agency and stole an apparent treasure trove of exploits and hacking toolsthat it is now trying to auction off.
But experts say that this is all a smokescreen for a not-so-subtle message from Moscow to Washington: Don't mess with us.
"It's a smokescreen, there's nothing real about this," John Schindler, a former NSA analyst and counterintelligence officer, told Business Insider. "This is Moscow's way of upping the ante in the spy war, and sending a message no one can miss [which is] 'we have you penetrated, we've got you by the balls, don't push us.'"
He added: "The Russians are making a power play because they think they can right now."
The previously-unknown Shadow Brokerscreated a number ofsocial-media accounts earlier this month on Reddit, Github, Twitter, and Imgur, before announcing on August 13 its "cyber weapon auction," which promised bidders a "full state sponsor tool set" from a hacking unit believed to be within the NSA known only as "The Equation Group."
It released a 234-megabyte archive on various file-sharing sites with one-half being free to view and use — which numerous expertssay is legitimate— while the other half was encrypted. The winner of the auction, the group said, would get the decryption key.
But an auction for hacking tools and exploits is not something that ever happens,experts say. Instead, exploits are bought and sold on the black market for hundreds of thousands and sometimes millions of dollars, in private.
There's something else going on here, and it seems like it has nothing to do with a hacking group looking for cash.
(Reuters)
In the announcement of its auction, Shadow Brokers seemed to ensure that no one would seriously consider bidding on the other half of its treasure trove, which it claims has within it software that is better than "Stuxnet" — the US-Israeli malware that destroyed Iranian nuclear centrifuges.
Its FAQ tells bidders that they are going to lose their Bitcoin, no matter what they do. If you win the auction, you'll get the files, but if you lose the auction, you don't get the files — and you don't get your Bitcoin back.
"Sorry lose bidding war lose bitcoin and files," the group wrote.
That's probably why the so-called auction hasn't moved anywhere close to the group's goal of 1 million Bitcoin, or roughly $575 million. The high bid iscurrently1.629 Bitcoin, a surprisingly low figure for a software package that, if it were "better than Stuxnet," would contain a number of unknown software exploits called "zero days," each of whichcan be soldfor $100,000 or more on the black market.
"This auction is one of the more bizarre things that I've ever seen in this space. People who buy and sell exploits would not just dump money into an auction," a source who used to work for the NSA's elite hacker unit, Tailored Access Operations, told Business Insider on condition of anonymity in order to discuss sensitive matters. "It kind of makes no sense."
"The low Bitcoin offers are pretty amusing though,"Dr. Peter Singer, a strategist at the think tank New America and coauthor of "Ghost Fleet," told Business Insider in an email.
Further, the website WikiLeaks apparently has the full archiveand saysthat it will release its own "pristine copy in due course." WikiLeaks did not respond to an email from Business Insider asking when that release would be.
This just "shows the fraud of the whole Bitcoin angle," Schindler said.
(The Kremlin towers and St. Basil's Cathedral in Moscow.Thomson Reuters)
Former NSA contractor Edward Snowden offered his opinion on the underlying message behind the "auction" in a series of tweets on Tuesday,notably pointingthe finger at Russia as being behind it.
After cybersecurity firm CrowdStrike said that it uncovered two different state-sponsored Russian hacking groups inside the servers ofthe Democratic National Committee in June, Snowden wrote that "if Russia hacked the DNC, they should be condemned for it," and then chided the US for not releasing evidence that he believed the NSA had that would prove it.
That "smoking gun" evidence never came, though a number of US political and intelligence officialshave saidthat the DNC hack was at the Kremlin's direction.
"Circumstantial evidence and conventional wisdom indicates Russian responsibility,"wroteSnowden of this latest breach, adding, "This leak looks like somebody sending a message that an escalation in the attribution game could get messy fast."
How messy? According to Snowden, the fully-leaked toolkit — from 2013 — could offer insight into previous hacks carried out by the NSA, or it could bereverse-engineeredto help adversaries detect them in the future. Even Schindler, the former NSA analyst who's an outspoken critic of Snowden, agrees with Snowden's finding on the overt message, though he doesn't think that leaked tools will have any significant effect on future NSA operations.
"This stuff has all been changed," Schindler said. "Three years is a long time in cyber ops, because that's not the point. The point is to show NSA that we've got you by the balls."
NOW WATCH:FORMER NSA DIRECTOR: America is ‘really good’ at stealing data from other countries
More From Business Insider
• Experts think Russia has leaked NSA cyberweapons online
• Here's why the supposed NSA 'hack' is unlike anything we've ever seen before
• EDWARD SNOWDEN: Russia might have leaked alleged NSA cyberweapons as a 'warning' || Hacker Group Claims to Be Selling NSA Files: UPDATED Tuesday morning with Edward Snowden's comments, Tuesday afternoon with a comprehensive list of purported NSA tools referenced in the data dump and Friday morning with a statement from WatchGuard Technologies. It's either a very elaborate hoax, or it's evidence that someone has hacked into the U.S. National Security Agency. On Saturday (Aug. 13), tweets and other online postings from a new group calling itself "Shadow Brokers" said that it was auctioning off files stolen from the "Equation Group." Equation Group is Kaspersky Lab's name for an extremely sophisticated cyberespionage group with ties to the Stuxnet computer worm, which in 2010 damaged Iranian nuclear-fuel-processing facilities. The unspoken understanding is that the Equation Group is part of the NSA. "We hack Equation Group. We find many many Equation Group cyber weapons. You see pictures. We give you some Equation Group files free, you see. This is good proof no?" read an entertaining message posted on Pastebin by Shadow Brokers. "You enjoy!!! You break many things. You find many intrusions. You write many words. But not all, we are auction the best files." MORE: 7 Ways to Stop NSA Spying on Your Smartphone As proof, Shadow Brokers posted links to various file-sharing services, from which a 235MB Zip file could be downloaded. Shadow Broker said that the Zip file was just a sample of the Equation Group files it had. Security experts who have looked at the files say they bear names like EGREGIOUSBLUNDER, ELIGIBLEBACHELOR and ESCALATEPLOWMAN, and detail ways to get through commercially available firewall software. Documents leaked in 2013 by former NSA contractor Edward Snowden, along with other evidence, indicated the existence of NSA tools with similarly sillly-sounding names, such as IRATEMONK, STELLARWIND and EGOTISTICALGIRAFFE. Hoax or not, some of the files in the Shadow Brokers data dump appear to be genuine malware, said researchers. Story continues "There are actual exploits in the dump, with a 2013 timestamp on files," wrote Matt Suiche , a well-known French security researcher, in a Medium post Monday (Aug. 15). "We do not know if they are working as nobody has tried them, but they are actual exploits and not only references." "Equation Group's ELIGIBLECANDIDATE exploits an RCE [remote code execution] vulnerability in HTTP cookies in a TOPSEC firewall CGI script," tweeted Mustafa Al-Bassam , a British researcher who was once a member of the Lulzsec hacking crew. (TOPSEC is a Chinese cloud-security provider.) "ESCALATEPLOWMAN is actually a privilege escalation exploit against WatchGuard firewalls." In more (deliberately?) broken English, the Shadow Brokers missive instructed interested parties to bid for the files using Bitcoin. The document didn't say how many files in total Shadow Brokers had. "If you like free files (proof), you send bitcoin," says the message. "If you want know your networks hacked, you send bitcoin. If you want hack networks as like equation group, you send bitcoin. If you want reverse, write many words, make big name for self, get many customers, you send bitcoin. If want to know what we take, you send bitcoin." If the documents really are from the NSA, how did Shadow Brokers get their hands on them? Who's crafty enough to hack the NSA? The Grugq, a pseudonymous South African bug broker i.e., he sells newly found "zero-day" software exploits to intelligence agencies such as the NSA put forward a theory on Twitter earlier Monday. "This dump does not support the assertion that NSA was hacked. That sort of access is too valuable to waste for (almost) any reason," the Grugq tweeted . "I would guess: the dump is the take from a counter hack against a pivot/C2 [malware command-and-control server] that was mistakenly loaded with too much data. [Stuff] happens." UPDATE: Edward Snowden himself Tuesday (Aug. 16) piped in on Twitter about the purported NSA files, agreeing with the Grugq that they came from a malware command-and-control server. Snowden blamed Russian state-sponsored hackers trying to do damage control in the wake of the theft, and subsequent release, of embarrassing documents from the Democratic National Committee's email servers. "NSA malware staging servers getting hacked by a rival is not new. A rival publicly demonstrating they have done so is," Snowden wrote. "I suspect this is more diplomacy than intelligence, related to the escalation around the DNC hack. "Circumstantial evidence and conventional wisdom indicates Russian responsibility," he continued. "Here's why that is significant: This leak is likely a warning that someone can prove U.S. responsibility for any attacks that originated from this malware server." "That could have significant foreign policy consequences. Particularly if any of those operations targeted U.S. allies. Particularly if any of those operations targeted elections," Snowden wrote. "Accordingly, this may be an effort to influence the calculus of decision-makers wondering how sharply to respond to the DNC hacks." UPDATE: Mustafa Al-Bassam has posted a list of the purported Equation Group tools and exploits referenced in the "free" documents released by Shadow Brokers. Our favorite is EPICBANANA, which Al-Bassam describes as "a privilege escalation exploit against Cisco Adaptive Security Appliance (ASA) and Cisco Private Internet eXchange (PIX) devices." UPDATE: In a statement provided to Tom's Guide, WatchGuard Technologies responded to the Shadow Brokers data dump: "WatchGuard takes all reported vulnerabilities seriously and values the effort that security researchers put into the responsible disclosure of potential exploits. We investigated the reported exploit and found that it cannot be used against any of our currently supported appliances. The referenced vulnerability was actually targeting RapidStream appliances, a company WatchGuard acquired in 2002. This RapidStream exploit did not carry over into any WatchGuard appliances and is not a vulnerability for our current customers." How the NSA's Spying Keeps You Safe 10 Worst Data Breaches of All Time Can You Hide Anything from the NSA? Copyright 2016 Toms Guides , a Purch company. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. || Hacker Group Claims to Be Selling NSA Files: UPDATED Tuesday morning with Edward Snowden's comments, Tuesday afternoon with a comprehensive list of purported NSA tools referenced in the data dump and Friday morning with a statement from WatchGuard Technologies. It's either a very elaborate hoax, or it's evidence that someone has hacked into the U.S. National Security Agency. On Saturday (Aug. 13), tweets and other online postings from a new group calling itself "Shadow Brokers" said that it was auctioning off files stolen from the "Equation Group." Equation Group is Kaspersky Lab's name for an extremely sophisticated cyberespionage group with ties to the Stuxnet computer worm, which in 2010 damaged Iranian nuclear-fuel-processing facilities. The unspoken understanding is that the Equation Group is part of the NSA. "We hack Equation Group. We find many many Equation Group cyber weapons. You see pictures. We give you some Equation Group files free, you see. This is good proof no?" read an entertaining message posted on Pastebin by Shadow Brokers. "You enjoy!!! You break many things. You find many intrusions. You write many words. But not all, we are auction the best files." MORE: 7 Ways to Stop NSA Spying on Your Smartphone As proof, Shadow Brokers posted links to various file-sharing services, from which a 235MB Zip file could be downloaded. Shadow Broker said that the Zip file was just a sample of the Equation Group files it had. Security experts who have looked at the files say they bear names like EGREGIOUSBLUNDER, ELIGIBLEBACHELOR and ESCALATEPLOWMAN, and detail ways to get through commercially available firewall software. Documents leaked in 2013 by former NSA contractor Edward Snowden, along with other evidence, indicated the existence of NSA tools with similarly sillly-sounding names, such as IRATEMONK, STELLARWIND and EGOTISTICALGIRAFFE. Hoax or not, some of the files in the Shadow Brokers data dump appear to be genuine malware, said researchers. Story continues "There are actual exploits in the dump, with a 2013 timestamp on files," wrote Matt Suiche , a well-known French security researcher, in a Medium post Monday (Aug. 15). "We do not know if they are working as nobody has tried them, but they are actual exploits and not only references." "Equation Group's ELIGIBLECANDIDATE exploits an RCE [remote code execution] vulnerability in HTTP cookies in a TOPSEC firewall CGI script," tweeted Mustafa Al-Bassam , a British researcher who was once a member of the Lulzsec hacking crew. (TOPSEC is a Chinese cloud-security provider.) "ESCALATEPLOWMAN is actually a privilege escalation exploit against WatchGuard firewalls." In more (deliberately?) broken English, the Shadow Brokers missive instructed interested parties to bid for the files using Bitcoin. The document didn't say how many files in total Shadow Brokers had. "If you like free files (proof), you send bitcoin," says the message. "If you want know your networks hacked, you send bitcoin. If you want hack networks as like equation group, you send bitcoin. If you want reverse, write many words, make big name for self, get many customers, you send bitcoin. If want to know what we take, you send bitcoin." If the documents really are from the NSA, how did Shadow Brokers get their hands on them? Who's crafty enough to hack the NSA? The Grugq, a pseudonymous South African bug broker i.e., he sells newly found "zero-day" software exploits to intelligence agencies such as the NSA put forward a theory on Twitter earlier Monday. "This dump does not support the assertion that NSA was hacked. That sort of access is too valuable to waste for (almost) any reason," the Grugq tweeted . "I would guess: the dump is the take from a counter hack against a pivot/C2 [malware command-and-control server] that was mistakenly loaded with too much data. [Stuff] happens." UPDATE: Edward Snowden himself Tuesday (Aug. 16) piped in on Twitter about the purported NSA files, agreeing with the Grugq that they came from a malware command-and-control server. Snowden blamed Russian state-sponsored hackers trying to do damage control in the wake of the theft, and subsequent release, of embarrassing documents from the Democratic National Committee's email servers. "NSA malware staging servers getting hacked by a rival is not new. A rival publicly demonstrating they have done so is," Snowden wrote. "I suspect this is more diplomacy than intelligence, related to the escalation around the DNC hack. "Circumstantial evidence and conventional wisdom indicates Russian responsibility," he continued. "Here's why that is significant: This leak is likely a warning that someone can prove U.S. responsibility for any attacks that originated from this malware server." "That could have significant foreign policy consequences. Particularly if any of those operations targeted U.S. allies. Particularly if any of those operations targeted elections," Snowden wrote. "Accordingly, this may be an effort to influence the calculus of decision-makers wondering how sharply to respond to the DNC hacks." UPDATE: Mustafa Al-Bassam has posted a list of the purported Equation Group tools and exploits referenced in the "free" documents released by Shadow Brokers. Our favorite is EPICBANANA, which Al-Bassam describes as "a privilege escalation exploit against Cisco Adaptive Security Appliance (ASA) and Cisco Private Internet eXchange (PIX) devices." UPDATE: In a statement provided to Tom's Guide, WatchGuard Technologies responded to the Shadow Brokers data dump: "WatchGuard takes all reported vulnerabilities seriously and values the effort that security researchers put into the responsible disclosure of potential exploits. We investigated the reported exploit and found that it cannot be used against any of our currently supported appliances. The referenced vulnerability was actually targeting RapidStream appliances, a company WatchGuard acquired in 2002. This RapidStream exploit did not carry over into any WatchGuard appliances and is not a vulnerability for our current customers." How the NSA's Spying Keeps You Safe 10 Worst Data Breaches of All Time Can You Hide Anything from the NSA? Copyright 2016 Toms Guides , a Purch company. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. || MJMI Focus on Blockchain Technology Opens Doors to Multi-Billion Dollar Global Real Estate Markets: HENDERSON, NV / ACCESSWIRE / August 16, 2016 / MarilynJean Interactive ( MJMI ) continues to receive positive feedback from the investment community on its focus on Blockchain technology, the distributed ledger system that underpins Bitcoin and other crypto-currencies. The Blockchain is an enormous distributed database that runs across a global network of independent computers that are not controlled by any government. Globally recognized audit and professional services firm Deloitte recently published an analysis of the public sector applications of Blockchain technology. In their report, Deloitte identified numerous sectors where Blockchain technology could be used to address inefficiencies and provide added reliability and security. Among these were both physical and intellectual asset ownership records including vehicles, patents and real estate. Several countries, including Sweden, have begun testing use of the Blockchain ledger and verification system for their national land title registries. In the United States residential housing market alone, roughly $6 Billion of real estate changes hands every month. The integrity of the system that records title for all of these transactions is immensely important. In many developing countries, these systems are incredibly inefficient and open to fraud. Using Blockchain technology, the entire global real estate system could conceivably be digitized and secured by an independently verified, distributed ledger. How Blockchain Technology Could Revolutionize the Global Real Estate Market Property transactions could be handled on a Blockchain in a similar way to how payments between parties are handled using Bitcoin. However, instead of assuming that each 'coin' is the same, it is possible to associate a unique house or piece of land with a particular 'colored coin' and exchange it between parties. The entire transaction history of the property could then be followed through the Blockchain. Using 'smart contracts', a feature of digital currencies like Ethereum, which MJMI is also focussing on, asset exchange could follow specific instructions encoded as part of the transaction to be executed automatically once agreed criteria have been met. Story continues Using Blockchain technology could increase the efficiency of transaction processing and reduce, if not eliminate, property fraud. Peter Janosi, MJMI's president said: "We continue to receive positive feedback regarding our focus on Blockchain technology and believe we are positioning the company well to participate in how Blockchain technology will completely alter the way billions of dollars of assets change hand every day." About MJMI MJMI is in the business of providing safe and accessible services for the users of Bitcoin and other crypto-currencies. Crypto-currencies are a medium of exchange using cryptography to secure transactions and control the creation of new units. Bitcoin became the first decentralized crypto-currency in 2009. Crypto-currency is produced at a rate which is defined when the system is created and publicly known. By contrast, in centralized banking and economic systems, such as the Federal Reserve System, corporate boards or governments control the supply of currency by printing units or demanding additions to digital banking ledgers. However, neither companies nor governments can produce units of crypto-currency and as such the value of crypto-currencies are completely based on supply and demand, free from any governmental control. Many people believe crypto-currencies, and in particular bitcoin, hold the promise of being the most significant advancement in global finance in modern history. The advent of bitcoin creates a secure, easily accessible and transferable transnational currency that is completely liberated from political influence. MJMI is currently exploring partnerships in several verticals within the crypto-currency space, including the multi-billion dollar remittance market. Management believes that several industries, including both international remittances, the trading of futures and options contracts as well as online gambling are on the verge of being revolutionized by the use of Bitcoin and the underlying Blockchain technology to effect transactions. MarilynJean Media Interactive is among the first publicly traded companies focussed on bitcoin and the crypto-currency space. The company's trading symbol is MJMI.QB. Website: www.marilynjean.com Press Contact: investorcommunica@gmail.com SOURCE: MarilynJean Interactive || MJMI Focus on Blockchain Technology Opens Doors to Multi-Billion Dollar Global Real Estate Markets: HENDERSON, NV / ACCESSWIRE / August 16, 2016 /MarilynJean Interactive (MJMI) continues to receive positive feedback from the investment community on its focus on Blockchain technology, the distributed ledger system that underpins Bitcoin and other crypto-currencies. The Blockchain is an enormous distributed database that runs across a global network of independent computers that are not controlled by any government.
Globally recognized audit and professional services firm Deloitte recently published an analysis of the public sector applications of Blockchain technology. In their report, Deloitte identified numerous sectors where Blockchain technology could be used to address inefficiencies and provide added reliability and security. Among these were both physical and intellectual asset ownership records including vehicles, patents and real estate.
Several countries, including Sweden, have begun testing use of the Blockchain ledger and verification system for their national land title registries. In the United States residential housing market alone, roughly $6 Billion of real estate changes hands every month. The integrity of the system that records title for all of these transactions is immensely important. In many developing countries, these systems are incredibly inefficient and open to fraud. Using Blockchain technology, the entire global real estate system could conceivably be digitized and secured by an independently verified, distributed ledger.
How Blockchain Technology Could Revolutionize the Global Real Estate Market
Property transactions could be handled on a Blockchain in a similar way to how payments between parties are handled using Bitcoin. However, instead of assuming that each 'coin' is the same, it is possible to associate a unique house or piece of land with a particular 'colored coin' and exchange it between parties. The entire transaction history of the property could then be followed through the Blockchain. Using 'smart contracts', a feature of digital currencies like Ethereum, which MJMI is also focussing on, asset exchange could follow specific instructions encoded as part of the transaction to be executed automatically once agreed criteria have been met.
Using Blockchain technology could increase the efficiency of transaction processing and reduce, if not eliminate, property fraud.
Peter Janosi, MJMI's president said: "We continue to receive positive feedback regarding our focus on Blockchain technology and believe we are positioning the company well to participate in how Blockchain technology will completely alter the way billions of dollars of assets change hand every day."
About MJMI
MJMI is in the business of providing safe and accessible services for the users of Bitcoin and other crypto-currencies.
Crypto-currencies are a medium of exchange using cryptography to secure transactions and control the creation of new units. Bitcoin became the first decentralized crypto-currency in 2009. Crypto-currency is produced at a rate which is defined when the system is created and publicly known. By contrast, in centralized banking and economic systems, such as the Federal Reserve System, corporate boards or governments control the supply of currency by printing units or demanding additions to digital banking ledgers. However, neither companies nor governments can produce units of crypto-currency and as such the value of crypto-currencies are completely based on supply and demand, free from any governmental control. Many people believe crypto-currencies, and in particular bitcoin, hold the promise of being the most significant advancement in global finance in modern history. The advent of bitcoin creates a secure, easily accessible and transferable transnational currency that is completely liberated from political influence.
MJMI is currently exploring partnerships in several verticals within the crypto-currency space, including the multi-billion dollar remittance market. Management believes that several industries, including both international remittances, the trading of futures and options contracts as well as online gambling are on the verge of being revolutionized by the use of Bitcoin and the underlying Blockchain technology to effect transactions.
MarilynJean Media Interactive is among the first publicly traded companies focussed on bitcoin and the crypto-currency space. The company's trading symbol is MJMI.QB.
Website:www.marilynjean.comPress Contact:investorcommunica@gmail.com
SOURCE:MarilynJean Interactive || Blockchain could be 'revolutionary' to this $2 trillion problem: HSBC: Blockchain could be "revolutionary" to international trade and commerce, HSBC (London Stock Exchange: HSBA-GB) has told CNBC, after the bank unveiled a partnership with Bank of America Merrill Lynch (NYSE: BAC) to trial the technology. Blockchain was developed alongside the digital cryptocurrency bitcoin . It works like a huge, decentralized ledger which records every transaction and stores this information on a global network to prevent tampering. Bitcoin, itself, is a virtual currency that allows users to exchange online credits for goods and service But several organizations have looked into alternative applications for the blockchain, away from the digital currency. Bank of America Merrill Lynch and HSBC published a proof of concept last week showing how blockchain could be used to efficiently complete a trade deal. "Over $2 trillion of trade today depends on the physical exchange of documents," Vivek Ramachandran, global head of product and propositions for global trade and receivables finance at HSBC, told CNBC Tuesday. "What we've shown is blockchain has the potential to take away paper, which could be completely revolutionary if commercialised." According to Ramachandran, blockchain technology could serve as a trustworthy intermediary to share information between buyers and sellers. This would make international trading quicker and cheaper. "(Blockchain) makes the system much more efficient," he explained. "It's expensive to adopt it, but the upside is huge." Companies are making a big bet on blockchain technology. A study by Juniper Research published this week found that $290 million of venture capital has been invested in blockchain tech in the first half of 2016, with more than 30 blockchain start-ups receiving funding. However, the report urges investors and businesses to be cautious in regards to blockchain. "While blockchain technology offers the potential for increased speed, transparency and security across an array of verticals, there has to be rigorous and robust roadtesting in each unique use case before any decision is taken," research author Windsor Holden said in a press release on Tuesday. Follow CNBC International on Twitter and Facebook . || Blockchain could be 'revolutionary' to this $2 trillion problem: HSBC: Blockchain could be "revolutionary" to international trade and commerce, HSBC(London Stock Exchange: HSBA-GB)has told CNBC, after the bank unveiled a partnership with Bank of America Merrill Lynch(NYSE: BAC)to trial the technology.
Blockchain was developed alongside the digital cryptocurrencybitcoin. It works like a huge, decentralized ledger which records every transaction and stores this information on a global network to prevent tampering. Bitcoin, itself, is a virtual currency that allows users to exchange online credits for goods and service
But several organizations have looked into alternative applications for the blockchain, away from the digital currency. Bank of America Merrill Lynch and HSBC published a proof of concept last week showing how blockchain could be used to efficiently complete a trade deal.
"Over $2 trillion of trade today depends on the physical exchange of documents," Vivek Ramachandran, global head of product and propositions for global trade and receivables finance at HSBC, told CNBC Tuesday.
"What we've shown is blockchain has the potential to take away paper, which could be completely revolutionary if commercialised."
According to Ramachandran, blockchain technology could serve as a trustworthy intermediary to share information between buyers and sellers. This would make international trading quicker and cheaper.
"(Blockchain) makes the system much more efficient," he explained. "It's expensive to adopt it, but the upside is huge."
Companies are making a big bet on blockchain technology. A study by Juniper Research published this week found that $290 million of venture capital has been invested in blockchain tech in the first half of 2016, with more than 30 blockchain start-ups receiving funding.
However, the report urges investors and businesses to be cautious in regards to blockchain.
"While blockchain technology offers the potential for increased speed, transparency and security across an array of verticals, there has to be rigorous and robust roadtesting in each unique use case before any decision is taken," research author Windsor Holden said in a press release on Tuesday.
Follow CNBC International onTwitterandFacebook. || Hacking group claims to offer cyber-weapons in online auction: By Joseph Menn REUTERS - Hackers going by the name Shadow Brokers said on Monday they will auction stolen surveillance tools they say were used by a cyber group linked to the U.S. National Security Agency. To arouse interest in the auction, the hackers released samples of programs they said could break into popular firewall software made by companies including Cisco Systems Inc, Juniper Networks Inc and Fortinet Inc. The companies did not respond to request for comment, nor did the NSA. Writing in imperfect English, the Shadow Brokers promised in postings on a Tumblr blog that the auctioned material would contain cyber weapons developed by the Equation Group, a hacking group that cyber security experts widely believe to be an arm of the NSA. The Shadow Brokers said the programs they will auction will be better than Stuxnet, a malicious computer worm widely attributed to the United States and Israel that sabotaged Irans nuclear programme. Reuters could not contact the Shadow Brokers or verify their assertions. Some experts who looked at the samples posted on Tumblr said they included programs that had previously been described and therefore were unlikely to cause major damage. The data [released so far] appears to be relatively old; some of the programs have already been known for years, said researcher Claudio Guarnieri, and are unlikely to cause any significant operational damage. Still, they appeared to be genuine tools that might work if flaws have not been addressed. After examining the code released Monday, Matt Suiche, founder of UAE-based security startup Comae Technologies, concluded they looked like "could be used." Other security experts warned the posting could prove to be a hoax. The group said interested parties had to send funds in advance of winning the auction via Bitcoin currency and would not get their money back if they lost. The auction will end at an unspecified time, Shadow Brokers said, encouraging bidders to "keep bidding until we announce winner." (Editing by Cynthia Osterman) || Hacking group claims to offer cyber-weapons in online auction: By Joseph Menn REUTERS - Hackers going by the name Shadow Brokers said on Monday they will auction stolen surveillance tools they say were used by a cyber group linked to the U.S. National Security Agency. To arouse interest in the auction, the hackers released samples of programs they said could break into popular firewall software made by companies including Cisco Systems Inc, Juniper Networks Inc and Fortinet Inc. The companies did not respond to request for comment, nor did the NSA. Writing in imperfect English, the Shadow Brokers promised in postings on a Tumblr blog that the auctioned material would contain cyber weapons developed by the Equation Group, a hacking group that cyber security experts widely believe to be an arm of the NSA. The Shadow Brokers said the programs they will auction will be better than Stuxnet, a malicious computer worm widely attributed to the United States and Israel that sabotaged Irans nuclear programme. Reuters could not contact the Shadow Brokers or verify their assertions. Some experts who looked at the samples posted on Tumblr said they included programs that had previously been described and therefore were unlikely to cause major damage. The data [released so far] appears to be relatively old; some of the programs have already been known for years, said researcher Claudio Guarnieri, and are unlikely to cause any significant operational damage. Still, they appeared to be genuine tools that might work if flaws have not been addressed. After examining the code released Monday, Matt Suiche, founder of UAE-based security startup Comae Technologies, concluded they looked like "could be used." Other security experts warned the posting could prove to be a hoax. The group said interested parties had to send funds in advance of winning the auction via Bitcoin currency and would not get their money back if they lost. The auction will end at an unspecified time, Shadow Brokers said, encouraging bidders to "keep bidding until we announce winner." (Editing by Cynthia Osterman)
[Social Media Buzz]
#btc White House LGBTQ Tech and Innovation Briefing addresses national issues: The country ... http://bit.ly/2c4s6d0 #bitcoin #crypto || LIVE: Profit = $41.15 (16.77 %). BUY B0.49 @ $520.10 (#VirCurex). SELL @ $583.82 (#Bitfinex) #bitcoin #btc - http://www.projectcoin.org || #HamRadioCoin #HAM $ 0.000843 (5.66 %) 0.00000144 BTC (6.39 %) || Has bitcoin become boring? The price seems to have been stuck at 580. Taking the halving into account I was expecting more activity... || ETHER, ETHER CLAS...
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580.18, 577.76, 579.65, 569.95, 573.91, 574.11, 577.50, 575.47, 572.30, 575.54
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Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 3486.18, 3457.79, 3487.95, 3521.06, 3464.01, 3459.15, 3466.36, 3413.77, 3399.47, 3666.78, 3671.20, 3690.19, 3648.43, 3653.53, 3632.07, 3616.88, 3620.81, 3629.79, 3673.84, 3915.71, 3947.09, 3999.82, 3954.12, 4005.53, 4142.53, 3810.43, 3882.70, 3854.36, 3851.05, 3854.79, 3859.58, 3864.42, 3847.18, 3761.56, 3896.38, 3903.94, 3911.48, 3901.13, 3963.31, 3951.60, 3905.23, 3909.16, 3906.72, 3924.37, 3960.91, 4048.73, 4025.23, 4032.51, 4071.19, 4087.48, 4029.33, 4023.97, 4035.83, 4022.17, 3963.07, 3985.08, 4087.07, 4069.11, 4098.37, 4106.66, 4105.40, 4158.18, 4879.88, 4973.02, 4922.80, 5036.68, 5059.82, 5198.90, 5289.77, 5204.96, 5324.55, 5064.49, 5089.54, 5096.59, 5167.72, 5067.11, 5235.56, 5251.94, 5298.39, 5303.81, 5337.89, 5314.53, 5399.37, 5572.36, 5464.87, 5210.52, 5279.35, 5268.29, 5285.14, 5247.35.
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[Bitcoin Technical Analysis for 2019-04-29]
Volume: 13735490672, RSI (14-day): 56.90, 50-day EMA: 4819.62, 200-day EMA: 4791.97
[Wider Market Context]
Gold Price: 1278.60, Gold RSI: 44.24
Oil Price: 63.50, Oil RSI: 54.21
[Recent News (last 7 days)]
Top 5 Crypto Performers: BTC, XEM, BSV, ETH, BNB: The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, you should conduct your own research when making a decision. Market data provided by HitBTC exchange. Altcoins led the rally this week from the lows with bitcoin ( BTC ) lagging behind. After a sharp up move, it was natural for traders to book profits on their quick gains. While altcoins have pulled back sharply from their recent highs, bitcoin has held up quite well. Its dominance has gradually inched from about 50% in early-April to 54.5%. During times of crisis in the industry, investors usually take refuge in bitcoin. Following the recently reported scandal involving crypto exchange Bitfinex and stablecoin tether ( USDT ), traders have converted their tether into bitcoin. Though both firms have issued a joint statement denying any wrongdoing, investors are playing it safe. Such events give an opportunity to traditional brokerages to enter the nascent space as they offer a trusted relationship to their clients. The latest to take the plunge is online trading firm E*Trade Financial Group as it reportedly readies to offer cryptocurrency trading in BTC and ether ( ETH ) on its platform. E*Trade had 4.9 million brokerage accounts on Dec. 31 of last year. With such a massive reach, the move would be an important one for cryptocurrency adoption. BTC/USD Bitcoin completed a bullish crossover this week for the first time since October 2015. This move arguably indicates a trend reversal. The bear market has seen a lot of investors lose huge sums of money. One among them was a seasoned investor, Japanese billionaire and founder of multinational conglomerate SoftBank Group, Masayoshi Son who booked a loss of about $130 million trading bitcoin. While many consider bitcoin to be digital gold, a recent survey in Europe found that only 49% of respondents believe that BTC will be around 10 years from now. This shows that cryptocurrencies will have to evolve further to be accessible and friendly to the non-tech savvy public. Story continues BTC The BTC/USD pair has largely stayed above the breakout level of $4,914.11 for the past three weeks. But the bulls are struggling to push the price to the next overhead resistance of $5,900. Currently, the 50-week SMA is acting as a resistance. If the bulls defend the $4,914.11 levels again during the next fall, it will indicate buying at lower levels and the pair might remain range bound for a few more weeks. Consolidation at these levels is a positive sign. But if the price rebounds sharply from the current levels or from $4,914.11, the cryptocurrency could rally to $5,900. We anticipate a stiff resistance at this level. On the downside, if the bears sink the pair below $4,914.11, it can drop to the 20-week EMA and below it to $4,255. The next couple of weeks are very important as it will set the stage for the next leg of the move. XEM/USD When all the top 20 coins are in the red, it shows that the markets are at a risk of turning down. Nem (XEM) was the second-best performer this week as it fell by about 9% in the past seven days. What is in store? Can it stage a recovery or will it continue to slide further? Let us find out. XEM The recovery in the XEM/USD pair hit a roadblock at the overhead resistance of $0.07790717. The price has been correcting for the past three weeks. The bulls will attempt to defend the support at $0.060 and below it $0.053. If these supports breakdown, a retest of the lows is probable. On the other hand, if the pair rebounds from $0.060, the bulls will again try to propel it above the overhead resistance of $0.07790717. If successful, it can move up to the 50-week SMA at $0.10 and above it to $0.13. The cryptocurrency is yet to form a reversal setup. We shall wait for it to show some strength before turning positive on it. BSV/USD Bitcoin SV ( BSV ) has been in the news for the past few days as a few exchanges delisted it. After the initial plunge, prices seem to be stabilizing. The delisting put it and its creator, Craig Wright, in the limelight. Ayr United, a football team in Scotland, has signed a sponsorship that will feature the bitcoin SV logo on its shirts. BSV The BSV/USD pair had been trading inside a range of $102.580 and $58.072 for the past few weeks. It turned down from the top of the range three weeks back and since then has been facing strong selling due to the negative news surrounding it. The bears broke below the support of the range at $58.072 and continued lower. Currently, the bulls are attempting to rebound from the psychological support of $50. If the bulls carry the price back into the range, we can expect the pair to consolidate between $58.072 and $102.580 for the next few weeks. But if the bulls fail to ascend above $58.072, the bears will again try to breakdown the support at $50. If that happens, a retest of the lows at $38.528 is possible. ETH/USD The co-founder of Ethereum has proposed increasing Ether staking rewards once the protocol switches to Proof of Stake (PoS). Meanwhile, Ethereum developers this week announced that they had raised the required funding for a third-party audit of the ProgPoW code. In other news, reports recently surfaced that Samsung plans to develop a public-private blockchain based on Ethereum. The token is likely to be named Samsung Coin. Societe Generale SFH — a subsidiary of Societe Generale Group — issued a 100 million euro bond on the Ethereum blockchain. In a negative development, a hacker managed to siphon off about 45,000 ether by successfully guessing weak private keys. ETH The ETH/USD pair has slipped back below the breakout level of $167.32, which is a negative sign. It invalidates the bullish breakout of the ascending triangle pattern. The next support on the downside is $144.78. If this also breaks, the drop could extend to the trendline of the ascending triangle. However, if the pair rebounds off the support at $144.78, the bulls will again try to scale above $167.32. If successful, the next overhead resistance is $187.98. If this level is crossed, the pair is likely to pick up momentum and quickly rally to its target objective of $251.64. As it has formed a reversal pattern at the bottom, this target price might even be crossed. BNB/USD Binance’s token sale platform Launchpad successfully completed the sale of Matic Network (MATIC) tokens through its new lottery system. About 58.38% of the applicants benefitted from the lottery. Binance completed the launch of its decentralized trading platform (DEX) just a week after launching its own blockchain, Binance Chain. Binance also launched its much-awaited exchange in Singapore, where it initially plans to offer bitcoin trading using Singapore dollars. Binance coin (BNB) is still holding out close to its lifetime highs. What is its next likely direction? Let’s take a look. BNB The BNB/USD pair came within a whisker of breaking out to new highs but failed to do so. The pair is facing selling at the resistance line of the wedge pattern. However, the positive point is that the pullback has been shallow. This shows that the buyers are keen to step in even on a minor dip. If the pair stays above the uptrend line of the wedge, it might enter into a consolidation for a couple of weeks, after which we expect another attempt by the bulls to make a new high. A new high is likely to attract more buyers and the cryptocurrency might surprise on the upside. Our bullish view will be invalidated if the bears sink the pair below the uptrend line of the wedge. A breakdown of the wedge is a bearish pattern that can result in a quick drop to the 20-week EMA. Market data provided by HitBTC exchange. Charts for analysis provided by TradingView . Related Articles: Hodler’s Digest, April 22–28: Top Stories, Price Movements, Quotes and FUD of the Week The Burst of the Bitcoin Bubble: An Autopsy Unconfirmed: Bitfinex Alleged to Be Mulling Launch of Exchange Token Via IEO Crypto Markets Drops as Bitcoin Fails to Hold $5,300 Support, Stocks Hit All-Time Highs || Top 5 Crypto Performers: BTC, XEM, BSV, ETH, BNB: The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, you should conduct your own research when making a decision.
Market data provided byHitBTCexchange.
Altcoins led the rally this week from the lows with bitcoin (BTC) lagging behind. After a sharp up move, it was natural for traders to book profits on their quick gains. While altcoins have pulled back sharply from their recent highs, bitcoin has held up quite well. Itsdominancehas gradually inched from about 50% in early-April to 54.5%.
During times of crisis in the industry, investors usually take refuge in bitcoin. Following the recently reportedscandalinvolving crypto exchange Bitfinex and stablecoin tether (USDT), traders have converted their tether into bitcoin. Though both firms have issued a joint statementdenyingany wrongdoing, investors are playing it safe.
Such events give an opportunity to traditional brokerages to enter the nascent space as they offer a trusted relationship to their clients. The latest to take the plunge is online trading firm E*Trade Financial Group as it reportedly readies tooffercryptocurrency trading in BTC and ether (ETH) on its platform. E*Trade had 4.9 million brokerage accounts on Dec. 31 of last year. With such a massive reach, the move would be an important one for cryptocurrency adoption.
Bitcoin completed abullishcrossover this week for the first time since October 2015. This move arguably indicates a trend reversal. The bear market has seen a lot of investors lose huge sums of money. One among them was a seasoned investor, Japanese billionaire and founder of multinational conglomerate SoftBank Group, Masayoshi Son who booked a loss of about$130 milliontrading bitcoin.
While many consider bitcoin to be digital gold, a recent survey in Europe found that only49%of respondents believe that BTC will be around 10 years from now. This shows that cryptocurrencies will have to evolve further to be accessible and friendly to the non-tech savvy public.
TheBTC/USDpair has largely stayed above the breakout level of $4,914.11 for the past three weeks. But the bulls are struggling to push the price to the next overhead resistance of $5,900.
Currently, the 50-week SMA is acting as a resistance. If the bulls defend the $4,914.11 levels again during the next fall, it will indicate buying at lower levels and the pair might remain range bound for a few more weeks. Consolidation at these levels is a positive sign.
But if the price rebounds sharply from the current levels or from $4,914.11, the cryptocurrency could rally to $5,900. We anticipate a stiff resistance at this level.
On the downside, if the bears sink the pair below $4,914.11, it can drop to the 20-week EMA and below it to $4,255.
The next couple of weeks are very important as it will set the stage for the next leg of the move.
When all the top 20 coins are in the red, it shows that the markets are at a risk of turning down. Nem (XEM) was the second-best performer this week as it fell by about 9% in the past seven days. What is in store? Can it stage a recovery or will it continue to slide further? Let us find out.
The recovery in theXEM/USDpair hit a roadblock at the overhead resistance of $0.07790717. The price has been correcting for the past three weeks. The bulls will attempt to defend the support at $0.060 and below it $0.053. If these supports breakdown, a retest of the lows is probable.
On the other hand, if the pair rebounds from $0.060, the bulls will again try to propel it above the overhead resistance of $0.07790717. If successful, it can move up to the 50-week SMA at $0.10 and above it to $0.13. The cryptocurrency is yet to form a reversal setup. We shall wait for it to show some strength before turning positive on it.
Bitcoin SV (BSV) has been in the news for the past few days as a few exchangesdelistedit. After the initial plunge, prices seem to be stabilizing. The delisting put it and its creator, Craig Wright, in the limelight. Ayr United, a football team in Scotland, has signed a sponsorship that will feature the bitcoin SV logo on its shirts.
TheBSV/USDpair had been trading inside a range of $102.580 and $58.072 for the past few weeks. It turned down from the top of the range three weeks back and since then has been facing strong selling due to the negative news surrounding it.
The bears broke below the support of the range at $58.072 and continued lower. Currently, the bulls are attempting to rebound from the psychological support of $50. If the bulls carry the price back into the range, we can expect the pair to consolidate between $58.072 and $102.580 for the next few weeks.
But if the bulls fail to ascend above $58.072, the bears will again try to breakdown the support at $50. If that happens, a retest of the lows at $38.528 is possible.
The co-founder of Ethereum has proposed increasing Ether stakingrewardsonce the protocol switches to Proof of Stake (PoS). Meanwhile, Ethereum developers this week announced that they had raised the required funding for a third-party audit of theProgPoWcode.
In other news, reports recently surfaced thatSamsungplans to develop a public-private blockchain based on Ethereum. The token is likely to be named Samsung Coin.
Societe Generale SFH — a subsidiary of Societe Generale Group — issued a100 millioneuro bond on the Ethereum blockchain.
In a negative development, ahackermanaged to siphon off about 45,000 ether by successfully guessing weak private keys.
TheETH/USDpair has slipped back below the breakout level of $167.32, which is a negative sign. It invalidates the bullish breakout of the ascending triangle pattern. The next support on the downside is $144.78. If this also breaks, the drop could extend to the trendline of the ascending triangle.
However, if the pair rebounds off the support at $144.78, the bulls will again try to scale above $167.32. If successful, the next overhead resistance is $187.98. If this level is crossed, the pair is likely to pick up momentum and quickly rally to its target objective of $251.64. As it has formed a reversal pattern at the bottom, this target price might even be crossed.
Binance’s token sale platform Launchpad successfully completed the sale of Matic Network (MATIC) tokens through its newlotterysystem. About 58.38% of the applicants benefitted from the lottery. Binance completed thelaunchof its decentralized trading platform (DEX) just a week after launching its own blockchain, Binance Chain.
Binance alsolaunchedits much-awaited exchange in Singapore, where it initially plans to offer bitcoin trading using Singapore dollars. Binance coin (BNB) is still holding out close to its lifetime highs. What is its next likely direction? Let’s take a look.
TheBNB/USDpair came within a whisker of breaking out to new highs but failed to do so. The pair is facing selling at the resistance line of the wedge pattern. However, the positive point is that the pullback has been shallow. This shows that the buyers are keen to step in even on a minor dip.
If the pair stays above the uptrend line of the wedge, it might enter into a consolidation for a couple of weeks, after which we expect another attempt by the bulls to make a new high. A new high is likely to attract more buyers and the cryptocurrency might surprise on the upside.
Our bullish view will be invalidated if the bears sink the pair below the uptrend line of the wedge. A breakdown of the wedge is a bearish pattern that can result in a quick drop to the 20-week EMA.
Market data provided byHitBTCexchange. Charts for analysis provided byTradingView.
• Hodler’s Digest, April 22–28: Top Stories, Price Movements, Quotes and FUD of the Week
• The Burst of the Bitcoin Bubble: An Autopsy
• Unconfirmed: Bitfinex Alleged to Be Mulling Launch of Exchange Token Via IEO
• Crypto Markets Drops as Bitcoin Fails to Hold $5,300 Support, Stocks Hit All-Time Highs || Top 5 Crypto Performers: BTC, XEM, BSV, ETH, BNB: The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, you should conduct your own research when making a decision.
Market data provided byHitBTCexchange.
Altcoins led the rally this week from the lows with bitcoin (BTC) lagging behind. After a sharp up move, it was natural for traders to book profits on their quick gains. While altcoins have pulled back sharply from their recent highs, bitcoin has held up quite well. Itsdominancehas gradually inched from about 50% in early-April to 54.5%.
During times of crisis in the industry, investors usually take refuge in bitcoin. Following the recently reportedscandalinvolving crypto exchange Bitfinex and stablecoin tether (USDT), traders have converted their tether into bitcoin. Though both firms have issued a joint statementdenyingany wrongdoing, investors are playing it safe.
Such events give an opportunity to traditional brokerages to enter the nascent space as they offer a trusted relationship to their clients. The latest to take the plunge is online trading firm E*Trade Financial Group as it reportedly readies tooffercryptocurrency trading in BTC and ether (ETH) on its platform. E*Trade had 4.9 million brokerage accounts on Dec. 31 of last year. With such a massive reach, the move would be an important one for cryptocurrency adoption.
Bitcoin completed abullishcrossover this week for the first time since October 2015. This move arguably indicates a trend reversal. The bear market has seen a lot of investors lose huge sums of money. One among them was a seasoned investor, Japanese billionaire and founder of multinational conglomerate SoftBank Group, Masayoshi Son who booked a loss of about$130 milliontrading bitcoin.
While many consider bitcoin to be digital gold, a recent survey in Europe found that only49%of respondents believe that BTC will be around 10 years from now. This shows that cryptocurrencies will have to evolve further to be accessible and friendly to the non-tech savvy public.
TheBTC/USDpair has largely stayed above the breakout level of $4,914.11 for the past three weeks. But the bulls are struggling to push the price to the next overhead resistance of $5,900.
Currently, the 50-week SMA is acting as a resistance. If the bulls defend the $4,914.11 levels again during the next fall, it will indicate buying at lower levels and the pair might remain range bound for a few more weeks. Consolidation at these levels is a positive sign.
But if the price rebounds sharply from the current levels or from $4,914.11, the cryptocurrency could rally to $5,900. We anticipate a stiff resistance at this level.
On the downside, if the bears sink the pair below $4,914.11, it can drop to the 20-week EMA and below it to $4,255.
The next couple of weeks are very important as it will set the stage for the next leg of the move.
When all the top 20 coins are in the red, it shows that the markets are at a risk of turning down. Nem (XEM) was the second-best performer this week as it fell by about 9% in the past seven days. What is in store? Can it stage a recovery or will it continue to slide further? Let us find out.
The recovery in theXEM/USDpair hit a roadblock at the overhead resistance of $0.07790717. The price has been correcting for the past three weeks. The bulls will attempt to defend the support at $0.060 and below it $0.053. If these supports breakdown, a retest of the lows is probable.
On the other hand, if the pair rebounds from $0.060, the bulls will again try to propel it above the overhead resistance of $0.07790717. If successful, it can move up to the 50-week SMA at $0.10 and above it to $0.13. The cryptocurrency is yet to form a reversal setup. We shall wait for it to show some strength before turning positive on it.
Bitcoin SV (BSV) has been in the news for the past few days as a few exchangesdelistedit. After the initial plunge, prices seem to be stabilizing. The delisting put it and its creator, Craig Wright, in the limelight. Ayr United, a football team in Scotland, has signed a sponsorship that will feature the bitcoin SV logo on its shirts.
TheBSV/USDpair had been trading inside a range of $102.580 and $58.072 for the past few weeks. It turned down from the top of the range three weeks back and since then has been facing strong selling due to the negative news surrounding it.
The bears broke below the support of the range at $58.072 and continued lower. Currently, the bulls are attempting to rebound from the psychological support of $50. If the bulls carry the price back into the range, we can expect the pair to consolidate between $58.072 and $102.580 for the next few weeks.
But if the bulls fail to ascend above $58.072, the bears will again try to breakdown the support at $50. If that happens, a retest of the lows at $38.528 is possible.
The co-founder of Ethereum has proposed increasing Ether stakingrewardsonce the protocol switches to Proof of Stake (PoS). Meanwhile, Ethereum developers this week announced that they had raised the required funding for a third-party audit of theProgPoWcode.
In other news, reports recently surfaced thatSamsungplans to develop a public-private blockchain based on Ethereum. The token is likely to be named Samsung Coin.
Societe Generale SFH — a subsidiary of Societe Generale Group — issued a100 millioneuro bond on the Ethereum blockchain.
In a negative development, ahackermanaged to siphon off about 45,000 ether by successfully guessing weak private keys.
TheETH/USDpair has slipped back below the breakout level of $167.32, which is a negative sign. It invalidates the bullish breakout of the ascending triangle pattern. The next support on the downside is $144.78. If this also breaks, the drop could extend to the trendline of the ascending triangle.
However, if the pair rebounds off the support at $144.78, the bulls will again try to scale above $167.32. If successful, the next overhead resistance is $187.98. If this level is crossed, the pair is likely to pick up momentum and quickly rally to its target objective of $251.64. As it has formed a reversal pattern at the bottom, this target price might even be crossed.
Binance’s token sale platform Launchpad successfully completed the sale of Matic Network (MATIC) tokens through its newlotterysystem. About 58.38% of the applicants benefitted from the lottery. Binance completed thelaunchof its decentralized trading platform (DEX) just a week after launching its own blockchain, Binance Chain.
Binance alsolaunchedits much-awaited exchange in Singapore, where it initially plans to offer bitcoin trading using Singapore dollars. Binance coin (BNB) is still holding out close to its lifetime highs. What is its next likely direction? Let’s take a look.
TheBNB/USDpair came within a whisker of breaking out to new highs but failed to do so. The pair is facing selling at the resistance line of the wedge pattern. However, the positive point is that the pullback has been shallow. This shows that the buyers are keen to step in even on a minor dip.
If the pair stays above the uptrend line of the wedge, it might enter into a consolidation for a couple of weeks, after which we expect another attempt by the bulls to make a new high. A new high is likely to attract more buyers and the cryptocurrency might surprise on the upside.
Our bullish view will be invalidated if the bears sink the pair below the uptrend line of the wedge. A breakdown of the wedge is a bearish pattern that can result in a quick drop to the 20-week EMA.
Market data provided byHitBTCexchange. Charts for analysis provided byTradingView.
• Hodler’s Digest, April 22–28: Top Stories, Price Movements, Quotes and FUD of the Week
• The Burst of the Bitcoin Bubble: An Autopsy
• Unconfirmed: Bitfinex Alleged to Be Mulling Launch of Exchange Token Via IEO
• Crypto Markets Drops as Bitcoin Fails to Hold $5,300 Support, Stocks Hit All-Time Highs || MakerDAO CTO Departs, Points to Internal Conflicts: Andy Milenius, formerly the chief technology officer at MakerDAO,publishedan open letter dated April 3 explaining his concerns over the project’s internal conflicts. MakerDAO is the company behind the decentralized algorithmic Ethereum-based stablecoinDAIas well as the governance token Maker (MKR).
In his 24-page-long letter, Milenius describes a conflict between his ideas of equal workspace and democratization true to a Decentralized Autonomous Organization (DAO) and his fellow executives’ desire for a traditional corporate efficiency.
The text accuses Rune Christensen, the CEO of the company, of having tried to take control over the DAO, causing the project’s core developers to become uncollaborative. The developers worked in a separate company dubbed DappHub, apparently to safeguard their independence, the text explains.
The letter also illustrates how at one point Milenius intimated to Christensen that if Matt Richards, at the time the president and chief operating officer of the company, wouldn’t leave, then Milenius would. This action reportedly resulted in Richards’ departure.
Millenius confirmed to Cointelegraph today, April 28, that the letter was in fact authored by him and that he is no longer the CTO of MakerDAO.
Yesterday, on April 27, Richardspublishedan answer to the accusations in a Reddit thread, explaining his view on their conflict. In his post he states:
“It was not enough for Andy to reinvent the financial system. He also had to reinvent the way that work gets done (he didn’t know how it needed to be different, only that it did).”
Richards also complained that, according to him, Milenius thought that no accountability was acceptable and that he didn’t pay attention to MKR token holders’ interest. He also claims that to Millenius “the efficiency that came with explicit hierarchy did not outweigh how uncool or unfair it was.” He concludes:
“I am hopeful about the future of this project and believe it will likely be better off without Andy.”
As Cointelegraphreportedearlier this week, DAI has recently struggled to hold its peg to the United States dollar, but the community is seemingly confident in the token’s success.
Also, the firm behind stalwart stablecoin tether (USDT) has recentlyrespondedtoallegationsthat its funds were used to cover an $850 million loss at crypto exchangeBitfinex, claiming that court filings by the New York Attorney General’s office are “riddled with false assertions.”
• MakerDAO Token Holders Vote About Whether to Raise DAI Stability Fee by 3%
• DAI Has Been Struggling to Maintain Its $1 Peg, but the MakerDAO Community Believes It Will Soon Be Crypto’s ‘Default’ Stablecoin
• Crypto Markets Drops as Bitcoin Fails to Hold $5,300 Support, Stocks Hit All-Time Highs
• Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, EOS, Binance Coin, Stellar, Cardano, TRON: Price Analysis April 29 || MakerDAO CTO Departs, Points to Internal Conflicts: Andy Milenius, formerly the chief technology officer at MakerDAO, published an open letter dated April 3 explaining his concerns over the project’s internal conflicts. MakerDAO is the company behind the decentralized algorithmic Ethereum-based stablecoin DAI as well as the governance token Maker ( MKR ). In his 24-page-long letter, Milenius describes a conflict between his ideas of equal workspace and democratization true to a Decentralized Autonomous Organization ( DAO ) and his fellow executives’ desire for a traditional corporate efficiency. The text accuses Rune Christensen, the CEO of the company, of having tried to take control over the DAO, causing the project’s core developers to become uncollaborative. The developers worked in a separate company dubbed DappHub, apparently to safeguard their independence, the text explains. The letter also illustrates how at one point Milenius intimated to Christensen that if Matt Richards, at the time the president and chief operating officer of the company, wouldn’t leave, then Milenius would. This action reportedly resulted in Richards’ departure. Millenius confirmed to Cointelegraph today, April 28, that the letter was in fact authored by him and that he is no longer the CTO of MakerDAO. Yesterday, on April 27, Richards published an answer to the accusations in a Reddit thread, explaining his view on their conflict. In his post he states: “It was not enough for Andy to reinvent the financial system. He also had to reinvent the way that work gets done (he didn’t know how it needed to be different, only that it did).” Richards also complained that, according to him, Milenius thought that no accountability was acceptable and that he didn’t pay attention to MKR token holders’ interest. He also claims that to Millenius “the efficiency that came with explicit hierarchy did not outweigh how uncool or unfair it was.” He concludes: Story continues “I am hopeful about the future of this project and believe it will likely be better off without Andy.” As Cointelegraph reported earlier this week, DAI has recently struggled to hold its peg to the United States dollar, but the community is seemingly confident in the token’s success. Also, the firm behind stalwart stablecoin tether ( USDT ) has recently responded to allegations that its funds were used to cover an $850 million loss at crypto exchange Bitfinex , claiming that court filings by the New York Attorney General’s office are “riddled with false assertions.” Related Articles: MakerDAO Token Holders Vote About Whether to Raise DAI Stability Fee by 3% DAI Has Been Struggling to Maintain Its $1 Peg, but the MakerDAO Community Believes It Will Soon Be Crypto’s ‘Default’ Stablecoin Crypto Markets Drops as Bitcoin Fails to Hold $5,300 Support, Stocks Hit All-Time Highs Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, EOS, Binance Coin, Stellar, Cardano, TRON: Price Analysis April 29 || British Baroness’ $325 Million Luxury Bitcoin Development Suffers Delays: ByCCN: Scottish lingerie tycoon and parliamentarian Baroness Michelle Mone seems to be stuck in a second failed crypto venture. Her £250m ($325 million) condo development inDubaithat would be sold for bitcoin is on hold. Government officials who’ve visited the site of what The Sunday Timescallsa “bitcoin bolthole” say construction has stopped.
Mone was planning to sell two bedroom apartments for £185,000 worth of bitcoin after developing the Aston Plaza Project. But the development remains stalled at 25% complete since last January, according to the developer’s website and promotional materials. The £250m development was advertised to be completed by this summer but nothing’s moving.
This bitcoin condo development was as unrealistic as her last attempt to break into the crypto industry. A year ago, she sought an $80 millionICOfor a startup investment clearinghouse disguised as a cryptocurrency. She hyped it as the “bitcoin of Britain” even though it is really nothing like bitcoin and raisedonly $7 million.
Bitcoin made an earnest and shockingly effective attempt at creating a payments and banking solution. EQUI is a blockchain back-end that’s been shoe-horned into a startup investment clearinghouse platform. Bitcoin is open source, public, and raised computing power to maintain and secure its network. EQUI is propriety, corporate, and raised money.
EQUI was not “the bitcoin of” anything. It was another example of corporate marketing hype over substance, and that’s why it failed.
Read the full story on CCN.com. || British Baroness $325 Million Luxury Bitcoin Development Suffers Delays: Baroness Mone was planning to sell two bedroom apartments for £185,000 worth of bitcoin after developing the Aston Plaza Project. | Source: Shutterstock By CCN : Scottish lingerie tycoon and parliamentarian Baroness Michelle Mone seems to be stuck in a second failed crypto venture. Her £250m ($325 million) condo development in Dubai that would be sold for bitcoin is on hold. Government officials whove visited the site of what The Sunday Times calls a bitcoin bolthole say construction has stopped. Mone was planning to sell two bedroom apartments for £185,000 worth of bitcoin after developing the Aston Plaza Project. But the development remains stalled at 25% complete since last January, according to the developers website and promotional materials. The £250m development was advertised to be completed by this summer but nothings moving. Sunning day. Hope you are all enjoying this beautiful weather. Global Business announcement coming soon #athome #equicapital #blockchain #entrepreneur #business #businesswoman pic.twitter.com/l4ONWXiO4g Lady (Michelle) Mone (@MichelleMone) June 24, 2018 Baroness Mones EQUI Coin Flop This bitcoin condo development was as unrealistic as her last attempt to break into the crypto industry. A year ago, she sought an $80 million ICO for a startup investment clearinghouse disguised as a cryptocurrency. She hyped it as the bitcoin of Britain even though it is really nothing like bitcoin and raised only $7 million . Story continues Bitcoin made an earnest and shockingly effective attempt at creating a payments and banking solution. EQUI is a blockchain back-end thats been shoe-horned into a startup investment clearinghouse platform. Bitcoin is open source, public, and raised computing power to maintain and secure its network. EQUI is propriety, corporate, and raised money. EQUI was not the bitcoin of anything. It was another example of corporate marketing hype over substance, and thats why it failed. Bitcoin & cryptocurrency is here to stay. I predict Bitcoin will reach $100k in the next 18 months https://t.co/OfiqBUQoxg Lady (Michelle) Mone (@MichelleMone) January 13, 2018 Read the full story on CCN.com . || British Baroness’ $325 Million Luxury Bitcoin Development Suffers Delays: ByCCN: Scottish lingerie tycoon and parliamentarian Baroness Michelle Mone seems to be stuck in a second failed crypto venture. Her £250m ($325 million) condo development inDubaithat would be sold for bitcoin is on hold. Government officials who’ve visited the site of what The Sunday Timescallsa “bitcoin bolthole” say construction has stopped.
Mone was planning to sell two bedroom apartments for £185,000 worth of bitcoin after developing the Aston Plaza Project. But the development remains stalled at 25% complete since last January, according to the developer’s website and promotional materials. The £250m development was advertised to be completed by this summer but nothing’s moving.
This bitcoin condo development was as unrealistic as her last attempt to break into the crypto industry. A year ago, she sought an $80 millionICOfor a startup investment clearinghouse disguised as a cryptocurrency. She hyped it as the “bitcoin of Britain” even though it is really nothing like bitcoin and raisedonly $7 million.
Bitcoin made an earnest and shockingly effective attempt at creating a payments and banking solution. EQUI is a blockchain back-end that’s been shoe-horned into a startup investment clearinghouse platform. Bitcoin is open source, public, and raised computing power to maintain and secure its network. EQUI is propriety, corporate, and raised money.
EQUI was not “the bitcoin of” anything. It was another example of corporate marketing hype over substance, and that’s why it failed.
Read the full story on CCN.com. || Bitcoin bull Tom Lee says 'crypto winter' is over and new all-time highs by 2020 are 'likely': Bitcoin is back, according to longtime bull Tom Lee.
Despite the cryptocurrency's drop in early Friday trading — a symptom of worries around the legitimacy of another digital currency called tether — it's going higher, and may even be in a bull market already, Lee tells CNBC.
"Last year was a terrible year for crypto, a massive bear market, and we published a piece this week just highlighting … 11 signs that historically only take place in a bull market. So I think the evidence is mounting that there's a bull market," Lee, who is managing partner and head of research at Fundstrat Global Advisors, said Thursday on "Futures Now."
Of the 11 signs that the "crypto winter" is over, Lee's top bullish drivers for bitcoin have to do with blockchain, technical indicators and trading volumes.
The first sign came in January, when Lee's team noticed that trading volumes on the blockchain — a technology some use to buy and sell bitcoin — turned positive year over year. That boost was helped by turmoil in Venezuela and Turkey, where people losing faith in their countries' currencies may have turned to bitcoin as an alternative, Lee explained.
"Just taking those two countries, they're close to 30% of the increase in on-chain activity, so it's meaningful," he said. "People are saying, 'Look, I don't trust using these local currencies. I don't trust the banks. I'm going to start using bitcoin.' And that's what's causing on-chain volume to really take off."
The second sign came in April, when bitcoin closed above its 200-day moving average, a widely accepted technical indicator of bullish momentum.
The third sign stemmed from a Fundstrat survey of over-the-counter brokers, who Lee said are "really important in terms of how institutional investors trade crypto." They told the firm that activity levels based on number of clients saw a 60% to 70% increase, and that trading per client surged.
"I think you're seeing signs that fundamentals are improving, technicals are improving, and now there's real activity by, essentially, crypto hodlers," Lee said, using an industry term that refers to people who hold cryptocurrencies rather than trading or selling them.
Lee's eight other bullish signs include shrinking supply; a swing to the positive in Fundstrat's Bitcoin Misery Index; consensus among "original" bitcoin bulls that the bottom has been put in for bitcoin; and a recent "golden cross" for bitcoin, or when the 50-day moving average overtakes the 200-day.
All this, he said, goes to show that bitcoin's not done climbing, and that these catalysts are "likely" to drive it to new all-time highs "around" 2020.
Lee, who predicted a 2019 bull market for bitcoin in March, added that the cryptocurrency's standard deviation from the S&P 500 — which this year is about 2.5 — could also help push it higher.
"One thing to keep in mind is whenever the S&P has made a big move, ... it's almost always led to a big move in crypto later in the year," he said. "So I think … a 2.5 standard deviation move for bitcoin would take it to $14,000. I'm not saying that's where it's going to go, but that's the magnitude of move that would be a catch-up."
Bitcoin traded in a wide range Friday on account of weakness in the broader cryptocurrency market, settling in roughly the $5,100 per coin range. Lee noted in a Friday call with CNBC that tether's issues don't have "much effect on bitcoin," since most people are "long tether because [they] don't want to be long bitcoin."
More From CNBC
• Market watcher who predicted December plunge sees tide of gains from earnings
• Trump faces 'cruel summer' for oil prices after Iran move: RBC's Helima Croft
• Gas futures are at a six-month high, and one trader says they've even more room to run || Bitcoin bull Tom Lee says 'crypto winter' is over and new all-time highs by 2020 are 'likely': Bitcoin is back, according to longtime bull Tom Lee.
Despite the cryptocurrency's drop in early Friday trading — a symptom of worries around the legitimacy of another digital currency called tether — it's going higher, and may even be in a bull market already, Lee tells CNBC.
"Last year was a terrible year for crypto, a massive bear market, and we published a piece this week just highlighting … 11 signs that historically only take place in a bull market. So I think the evidence is mounting that there's a bull market," Lee, who is managing partner and head of research at Fundstrat Global Advisors, said Thursday on "Futures Now."
Of the 11 signs that the "crypto winter" is over, Lee's top bullish drivers for bitcoin have to do with blockchain, technical indicators and trading volumes.
The first sign came in January, when Lee's team noticed that trading volumes on the blockchain — a technology some use to buy and sell bitcoin — turned positive year over year. That boost was helped by turmoil in Venezuela and Turkey, where people losing faith in their countries' currencies may have turned to bitcoin as an alternative, Lee explained.
"Just taking those two countries, they're close to 30% of the increase in on-chain activity, so it's meaningful," he said. "People are saying, 'Look, I don't trust using these local currencies. I don't trust the banks. I'm going to start using bitcoin.' And that's what's causing on-chain volume to really take off."
The second sign came in April, when bitcoin closed above its 200-day moving average, a widely accepted technical indicator of bullish momentum.
The third sign stemmed from a Fundstrat survey of over-the-counter brokers, who Lee said are "really important in terms of how institutional investors trade crypto." They told the firm that activity levels based on number of clients saw a 60% to 70% increase, and that trading per client surged.
"I think you're seeing signs that fundamentals are improving, technicals are improving, and now there's real activity by, essentially, crypto hodlers," Lee said, using an industry term that refers to people who hold cryptocurrencies rather than trading or selling them.
Lee's eight other bullish signs include shrinking supply; a swing to the positive in Fundstrat's Bitcoin Misery Index; consensus among "original" bitcoin bulls that the bottom has been put in for bitcoin; and a recent "golden cross" for bitcoin, or when the 50-day moving average overtakes the 200-day.
All this, he said, goes to show that bitcoin's not done climbing, and that these catalysts are "likely" to drive it to new all-time highs "around" 2020.
Lee, who predicted a 2019 bull market for bitcoin in March, added that the cryptocurrency's standard deviation from the S&P 500 — which this year is about 2.5 — could also help push it higher.
"One thing to keep in mind is whenever the S&P has made a big move, ... it's almost always led to a big move in crypto later in the year," he said. "So I think … a 2.5 standard deviation move for bitcoin would take it to $14,000. I'm not saying that's where it's going to go, but that's the magnitude of move that would be a catch-up."
Bitcoin traded in a wide range Friday on account of weakness in the broader cryptocurrency market, settling in roughly the $5,100 per coin range. Lee noted in a Friday call with CNBC that tether's issues don't have "much effect on bitcoin," since most people are "long tether because [they] don't want to be long bitcoin."
More From CNBC
• Market watcher who predicted December plunge sees tide of gains from earnings
• Trump faces 'cruel summer' for oil prices after Iran move: RBC's Helima Croft
• Gas futures are at a six-month high, and one trader says they've even more room to run || Bitcoin bull Tom Lee says 'crypto winter' is over and new all-time highs by 2020 are 'likely': Bitcoin is back, according to longtime bull Tom Lee. Despite the cryptocurrency's drop in early Friday trading a symptom of worries around the legitimacy of another digital currency called tether it's going higher, and may even be in a bull market already, Lee tells CNBC. "Last year was a terrible year for crypto, a massive bear market, and we published a piece this week just highlighting
11 signs that historically only take place in a bull market. So I think the evidence is mounting that there's a bull market," Lee, who is managing partner and head of research at Fundstrat Global Advisors, said Thursday on "Futures Now." Of the 11 signs that the "crypto winter" is over, Lee's top bullish drivers for bitcoin have to do with blockchain, technical indicators and trading volumes. The first sign came in January, when Lee's team noticed that trading volumes on the blockchain a technology some use to buy and sell bitcoin turned positive year over year. That boost was helped by turmoil in Venezuela and Turkey, where people losing faith in their countries' currencies may have turned to bitcoin as an alternative, Lee explained. "Just taking those two countries, they're close to 30% of the increase in on-chain activity, so it's meaningful," he said. "People are saying, 'Look, I don't trust using these local currencies. I don't trust the banks. I'm going to start using bitcoin.' And that's what's causing on-chain volume to really take off." The second sign came in April, when bitcoin closed above its 200-day moving average, a widely accepted technical indicator of bullish momentum. The third sign stemmed from a Fundstrat survey of over-the-counter brokers, who Lee said are "really important in terms of how institutional investors trade crypto." They told the firm that activity levels based on number of clients saw a 60% to 70% increase, and that trading per client surged. "I think you're seeing signs that fundamentals are improving, technicals are improving, and now there's real activity by, essentially, crypto hodlers," Lee said, using an industry term that refers to people who hold cryptocurrencies rather than trading or selling them. Lee's eight other bullish signs include shrinking supply; a swing to the positive in Fundstrat's Bitcoin Misery Index; consensus among "original" bitcoin bulls that the bottom has been put in for bitcoin; and a recent "golden cross" for bitcoin, or when the 50-day moving average overtakes the 200-day. Story continues All this, he said, goes to show that bitcoin's not done climbing, and that these catalysts are "likely" to drive it to new all-time highs "around" 2020. Lee, who predicted a 2019 bull market for bitcoin in March, added that the cryptocurrency's standard deviation from the S&P 500 which this year is about 2.5 could also help push it higher. "One thing to keep in mind is whenever the S&P has made a big move, ... it's almost always led to a big move in crypto later in the year," he said. "So I think
a 2.5 standard deviation move for bitcoin would take it to $14,000. I'm not saying that's where it's going to go, but that's the magnitude of move that would be a catch-up." Bitcoin traded in a wide range Friday on account of weakness in the broader cryptocurrency market, settling in roughly the $5,100 per coin range. Lee noted in a Friday call with CNBC that tether's issues don't have "much effect on bitcoin," since most people are "long tether because [they] don't want to be long bitcoin." More From CNBC Market watcher who predicted December plunge sees tide of gains from earnings Trump faces 'cruel summer' for oil prices after Iran move: RBC's Helima Croft Gas futures are at a six-month high, and one trader says they've even more room to run View comments || Hodler’s Digest, April 22–28: Top Stories, Price Movements, Quotes and FUD of the Week: Bitfinex Allegedly Covers $850 Million Loss With Tether Funds
The New York attorney general’s office alleged this week that crypto exchangeBitfinexlost $850 million and subsequently used funds from affiliatedstablecoinoperatorTetherto secretly cover the shortfall. The attorney general’s office has obtained a court filing that alleged that Bitfinex’s operator, Tether Limited and its associated entities werein violation of New York law with activities that may have defrauded New York-based crypto investors.Bitfinex has already publiclyrenouncedthe accusations, repeating in a blog post that both its platform and Tether are financially sound and claiming the court filings are “riddled with false assertions.” Amid the allegations, Bitfinexwithdrewfunds worth almost $90 million from its cold wallet.
WSJ: Japanese Billionaire SoftBank Founder Lost $130 Million on Bitcoin Investment
Masayoshi Son, aJapanesebillionaire and the founder of multinational conglomerateSoftBankGroup, reportedly lost over $130 million with his bitcoin (BTC) investment. According to unnamed sources speaking to the Wall Street Journal, Son invested at the recommendation of Peter Briger, the co-chairman of asset management company Fortress Investment Group. However, Sonallegedly invested in bitcoin when it was near its$20,000all-time-high in late 2017and sold during the 2018 bear market, losing $130 million. According to Bloomberg, Son’s net worth is $18.8 billion and has grown by more than 54% over the last year.
Report: Samsung Planning New Blockchain Mainnet Featuring Samsung Coin
According to unnamed sources speaking to a crypto industry publication,South Koreanelectronics giantSamsungis possibly developing a public-private blockchain with its own cryptocurrency, the Samsung Coin. The sources note that thealleged projectwould be developed by the company’s dedicated blockchain division, and that it wouldtake the form of a blockchain mainnet based on Ethereum. The Ethereum-based offering, according to the reports, would probably incorporate elements of both public and private details, noting that he or she thinks “it will be hybrid — that is, a combination of public and private blockchains.”
Unconfirmed: Disney Considers $13.2 Billion Equity Deal With Stake in Korbit, Bitstamp
If a $13.2 billion equity deal goes through, cryptocurrency exchanges Korbit and Bitstamp could soon haveWalt Disney Corp.as their owner. According to a Korean news outlet, the chairman of online gaming giant NXC Corporation, Jung-ju Kim, plans to sell his 98.6% stake in the company. Since NXC owns 47% of Nexon, South Korea’s largest game developer — which has stakes in the aforementioned cryptocurrency exchange —Disney would become a coincidental player in the cryptocurrency, pending the deal’s closure. To date, Disney’s only foray into the cryptocurrency sphere has been its Dragonchain blockchain, which has remained a fringe project despite a 2017 initial coin offering (ICO) raising around$13 million.
‘Blockchain Bandit’ Has Stolen 45,000 ETH by Guessing Weak Private Keys, Report Claims
According to a report released by Independent Security Evaluators, a so-called “blockchain bandit” has amassed almost 45,000ethers(ETH) by successfully guessing weak private keys. Adrian Bednarek, a senior security analyst, discovered the hacker accidentally after uncovering 732 private keys through his research, using a combination of looking for faulty code and faulty random number generators rather than a brute force search. Looking at thefindings, Bednarek realized that some of the wallets associated with the private keys he had found had a high volume of transactions going to a single address, with no money coming back out. At the end of ETH’s value, thetotal amount of ether allegedly stolen was equal to around $50 million.
Bitcoin is a bit down at the end of the week, trading at around $5,300. Ether is trading at about $159, XRP at $0.29 and total market cap is at around $172 billion.
The top three altcoin gainers of the week are speedcash, commerce data connection and ACRE. The top three altcoin losers of the week are spectrum network, womencoin and icechain.
For more info on crypto prices, make sure to read Cointelegraph’smarket analysis.
“We have been investing for the last year to re-architect our entire platform to support multiple blockchains in the face of global regulation. Global regulation of the cryptocurrency industry is inevitable for this truly borderless financial system to achieve mainstream adoption.”
Jonathan Levin, Chainalysis co-founder and chief operating officer
“My entire life I’ve been tracking people who are the best in the world, and hiding their identity. Finding Satoshi was a piece of cake for me.”
John McAfee, American entrepreneur and stalwart crypto advocate
"What is preventing the banking industry from rushing into it? I think it's mostly culture. I think the tipping point is about having an entrepreneurial culture, a willingness to push people to keep asking why.”
Emmanuel Aidoo, head of digital market assets at Credit Suisse
Research: White Paper Writers Can Earn $50K, but Say Startups Often Mislead Investors
According to a Decrypt investigation, white paper writers are earning between $1,000 and $50,000 per job. However, a number of them haveaccused some startups of asking them to mislead investors. As part of the investigation, freelancers that were interviewed said that they were “constantly required to fabricate and exaggerate facts,” including the addition of fake numbers and inventing entire business models for their clients. One anonymous United States-based white paper writer noted that copyright infringement often occurs, as startup executives ask writers to include details of patented technology belonging to rival companies. Notably, those interviewed said they have reported a recent uptick in demand for white paper writing.
Coinbase Files to Close Its Political Action Committee
MajorU.S.-based cryptocurrency exchangeCoinbasehasfiledto close its political action committee (PAC) this week. According to the filing,Coinbase’s PAC received no funds nor make any disbursements, and is now seeking to terminate the PAC. According to the regulations, a PAC must file a termination report in order to cease operations once it no longer intends to make or receive contributions or expenditures. Coinbase hadformedthe PAC in July of last year,becominga founding member of the Blockchain Association in September — Washington D.C.’s first lobby group to exclusively represent the interests of theblockchainindustry.
Report: India Considers Complete Ban on Digital Currencies
According to an unnamed official familiar with the matter, a draft bill that would ban cryptocurrency is allegedly circulating among various departments of theIndiangovernment. The draft bill, dubbed the “Banning of Cryptocurrencies and Regulation of Official Digital Currencies Bill 2019,” is reportedly part of inter-ministerial consultations. A committee made up of various economic and investor protection departments of the Indian government has allegedly supported the idea to completely ban the “sale, purchase and issuance of all types of cryptocurrency.” According to the source, this committee isreportedly considering an option to ban digital currency under the Prevention of Money Laundering Act, as it can be used for money laundering.
IMF Spring Meetings: Digital Money Is Imminent, but No Decentralization in Sight
In some small but important steps for adoption, the IMF’s Spring Meetings touched on the positive disruption that blockchain can bring, as well as the possibilities opened by a central bank digital currency.
The Burst of the Bitcoin Bubble: An Autopsy
Marcello Minnena of the quantitative analysis and financial innovation unit in Consob gives an analysis of what’s been going on with the top crypto’s behavior and where a floor may possibly be.
Mutual Owners, Mutual Funds: What We Know About the Bitfinex/Tether Scandal
After this week’s ongoing scandal involving Bitfinex, Tether and the U.S. Attorney General, Cointelegraph gives an overview of all of the events of this relatively confusing situation.
• Top 5 Crypto Performers: BTC, XEM, BSV, ETH, BNB
• Mutual Owners, Mutual Funds: What We Know About the Bitfinex/Tether Scandal
• The Burst of the Bitcoin Bubble: An Autopsy
• Bitfinex Allegedly Covers $850 Million Loss With Tether Funds || Hodlers Digest, April 2228: Top Stories, Price Movements, Quotes and FUD of the Week: Top stories this week Bitfinex Allegedly Covers $850 Million Loss With Tether Funds The New York attorney generals office alleged this week that crypto exchange Bitfinex lost $850 million and subsequently used funds from affiliated stablecoin operator Tether to secretly cover the shortfall. The attorney generals office has obtained a court filing that alleged that Bitfinexs operator, Tether Limited and its associated entities were in violation of New York law with activities that may have defrauded New York-based crypto investors. Bitfinex has already publicly renounced the accusations, repeating in a blog post that both its platform and Tether are financially sound and claiming the court filings are riddled with false assertions. Amid the allegations, Bitfinex withdrew funds worth almost $90 million from its cold wallet. WSJ: Japanese Billionaire SoftBank Founder Lost $130 Million on Bitcoin Investment Masayoshi Son, a Japanese billionaire and the founder of multinational conglomerate SoftBank Group, reportedly lost over $130 million with his bitcoin ( BTC ) investment. According to unnamed sources speaking to the Wall Street Journal, Son invested at the recommendation of Peter Briger, the co-chairman of asset management company Fortress Investment Group. However, Son allegedly invested in bitcoin when it was near its $20,000 all-time-high in late 2017 and sold during the 2018 bear market, losing $130 million. According to Bloomberg, Sons net worth is $18.8 billion and has grown by more than 54% over the last year. Report: Samsung Planning New Blockchain Mainnet Featuring Samsung Coin According to unnamed sources speaking to a crypto industry publication, South Korean electronics giant Samsung is possibly developing a public-private blockchain with its own cryptocurrency, the Samsung Coin. The sources note that the alleged project would be developed by the companys dedicated blockchain division, and that it would take the form of a blockchain mainnet based on Ethereum . The Ethereum-based offering, according to the reports, would probably incorporate elements of both public and private details, noting that he or she thinks it will be hybrid that is, a combination of public and private blockchains. Story continues Unconfirmed: Disney Considers $13.2 Billion Equity Deal With Stake in Korbit, Bitstamp If a $13.2 billion equity deal goes through, cryptocurrency exchanges Korbit and Bitstamp could soon have Walt Disney Corp. as their owner. According to a Korean news outlet, the chairman of online gaming giant NXC Corporation, Jung-ju Kim, plans to sell his 98.6% stake in the company. Since NXC owns 47% of Nexon, South Koreas largest game developer which has stakes in the aforementioned cryptocurrency exchange Disney would become a coincidental player in the cryptocurrency, pending the deals closure . To date, Disneys only foray into the cryptocurrency sphere has been its Dragonchain blockchain, which has remained a fringe project despite a 2017 initial coin offering ( ICO ) raising around $13 million . Blockchain Bandit Has Stolen 45,000 ETH by Guessing Weak Private Keys, Report Claims According to a report released by Independent Security Evaluators, a so-called blockchain bandit has amassed almost 45,000 ethers (ETH) by successfully guessing weak private keys. Adrian Bednarek, a senior security analyst, discovered the hacker accidentally after uncovering 732 private keys through his research, using a combination of looking for faulty code and faulty random number generators rather than a brute force search. Looking at the findings , Bednarek realized that some of the wallets associated with the private keys he had found had a high volume of transactions going to a single address, with no money coming back out. At the end of ETHs value, the total amount of ether allegedly stolen was equal to around $50 million . Winners and losers Bitcoin is a bit down at the end of the week, trading at around $5,300. Ether is trading at about $159, XRP at $0.29 and total market cap is at around $172 billion. The top three altcoin gainers of the week are speedcash, commerce data connection and ACRE. The top three altcoin losers of the week are spectrum network, womencoin and icechain. For more info on crypto prices, make sure to read Cointelegraphs market analysis . Most memorable quotations We have been investing for the last year to re-architect our entire platform to support multiple blockchains in the face of global regulation. Global regulation of the cryptocurrency industry is inevitable for this truly borderless financial system to achieve mainstream adoption. Jonathan Levin , Chainalysis co-founder and chief operating officer My entire life Ive been tracking people who are the best in the world, and hiding their identity. Finding Satoshi was a piece of cake for me. John McAfee , American entrepreneur and stalwart crypto advocate "What is preventing the banking industry from rushing into it? I think it's mostly culture. I think the tipping point is about having an entrepreneurial culture, a willingness to push people to keep asking why. Emmanuel Aidoo , head of digital market assets at Credit Suisse FUD of the week Research: White Paper Writers Can Earn $50K, but Say Startups Often Mislead Investors According to a Decrypt investigation, white paper writers are earning between $1,000 and $50,000 per job. However, a number of them have accused some startups of asking them to mislead investors . As part of the investigation, freelancers that were interviewed said that they were constantly required to fabricate and exaggerate facts, including the addition of fake numbers and inventing entire business models for their clients. One anonymous United States-based white paper writer noted that copyright infringement often occurs, as startup executives ask writers to include details of patented technology belonging to rival companies. Notably, those interviewed said they have reported a recent uptick in demand for white paper writing. Coinbase Files to Close Its Political Action Committee Major U.S. -based cryptocurrency exchange Coinbase has filed to close its political action committee (PAC) this week. According to the filing, Coinbases PAC received no funds nor make any disbursements , and is now seeking to terminate the PAC. According to the regulations, a PAC must file a termination report in order to cease operations once it no longer intends to make or receive contributions or expenditures. Coinbase had formed the PAC in July of last year, becoming a founding member of the Blockchain Association in September Washington D.C.s first lobby group to exclusively represent the interests of the blockchain industry. Report: India Considers Complete Ban on Digital Currencies According to an unnamed official familiar with the matter, a draft bill that would ban cryptocurrency is allegedly circulating among various departments of the Indian government. The draft bill, dubbed the Banning of Cryptocurrencies and Regulation of Official Digital Currencies Bill 2019, is reportedly part of inter-ministerial consultations. A committee made up of various economic and investor protection departments of the Indian government has allegedly supported the idea to completely ban the sale, purchase and issuance of all types of cryptocurrency. According to the source, this committee is reportedly considering an option to ban digital currency under the Prevention of Money Laundering Act , as it can be used for money laundering. Best Cointelegraph features IMF Spring Meetings: Digital Money Is Imminent, but No Decentralization in Sight In some small but important steps for adoption, the IMFs Spring Meetings touched on the positive disruption that blockchain can bring, as well as the possibilities opened by a central bank digital currency. The Burst of the Bitcoin Bubble: An Autopsy Marcello Minnena of the quantitative analysis and financial innovation unit in Consob gives an analysis of whats been going on with the top cryptos behavior and where a floor may possibly be. Mutual Owners, Mutual Funds: What We Know About the Bitfinex/Tether Scandal After this weeks ongoing scandal involving Bitfinex, Tether and the U.S. Attorney General, Cointelegraph gives an overview of all of the events of this relatively confusing situation. Related Articles: Top 5 Crypto Performers: BTC, XEM, BSV, ETH, BNB Mutual Owners, Mutual Funds: What We Know About the Bitfinex/Tether Scandal The Burst of the Bitcoin Bubble: An Autopsy Bitfinex Allegedly Covers $850 Million Loss With Tether Funds || The blockchain/crypto week in quotes: “When it comes to investor protection, the Investor Education and Protection Fund (IEPFA) has to take a stand against certain things. Against ponzi schemes, we are taking a stand. We think that cryptocurrency is a ponzi scheme and it should be banned.” IEPFA CEO Anurag Agarwal “Bitcoin is volatile, but every time people think it’s dead, it goes up a little.” Gene Simmons, co-founder and frontman of 70s rock band Kiss “After learning about crypto, I knew I had to make it a part of our business. It’s a no-brainer to sign up with TravelbyBit. I am very excited that we are going to be the first to adopt BNB payments at Point of Sale, following the launch of the new Binance Chain .” Origin Kebabs General Manager Burhan Göktas 1/ STUNNED but not surprised by #Bitfinex #Tether news out of #NewYork . I'll let other cryptolawyers analyze it but here are two macro thoughts: (1) There's a big double standard here. (2) Exchanges, clean up your act–cryptographically prove your solvency https://t.co/u4vpjh7Kjw — Caitlin Long 🔑 (@CaitlinLong_) April 26, 2019 “The stars are aligning for a Bitcoin bull run. The short-term moving average for the price of Bitcoin has finally moved above the longer-term average, which is often referred to as a Golden Cross, so investors are starting to believe that we might just be approaching a new phase for the price of Bitcoin. Hitting the $6,000 mark shouldn’t be the focus though, the real question is whether we carry on above $6,000. Previously $6,000 has been a major support level, so it’s likely we’ll see a bit of a sell-off if $6,000 is reached, however if that sell-off is overcome, and the price remains consistently above $6,000, there would be some serious momentum and belief that we could see the price carry on rising over the next year to around 60-70% of the all-time high.” Simon Peters, Analyst, eToro Story continues Follow / unfollow bots are annoying If you want to grow your #BitcoinTwitter following just post the standard circle jerk nonsense *insert satoshi quote here* — Danny Brewster (@BtcDanny) April 24, 2019 People ask me why would someone from traditional investment world cross over to #Blockchain & #Crypto world? Because never in my 30 yrs of managing capital have I seen an asset that delivers on promise of return enhancement & risk reduction through low correlation like #Bitcoin — Mark W. Yusko (@MarkYusko) April 25, 2019 “What is preventing the banking industry from rushing into blockchain technology adoption? I think it’s mostly culture. I think the tipping point is about having an entrepreneurial culture, a willingness to push people to keep asking why.” Emmanuel Aidoo, Head of Digital Market Assets, Credit Suisse “I have been totally blindsided by this, really, really let down by Spotware.” Digitex Futures boss Adam Todd I feel all of CT willing bitcoin to go over $6k. It's like when Liverpool play and the Kop sucks the ball in the net. — Jon Walsh (@walshjonwalsh) April 23, 2019 “It is clear that the $6,000 level in Bitcoin is a key price point to overcome in order for this recent strength to be maintained, as this is the price that acted as significant support for a number of weeks in latter part of 2018. Breaking below it was a watershed moment that then saw the price fall off a cliff down to $3,100 in December as the ‘crypto winter’ was at its height. As Bitcoin edges back up, that previous $6,000 support level has now turned into resistance and is now firmly in the spotlight. A move back above here will bring the $10,000 level back in focus. I think breaking through it on its first attempt anytime this month is unlikely. What is most likely to happen is that it will test $6,000, fail and head back down back towards $4,000. I would expect the price to break through $6,000 on any second or third attempt and from there the aim would be to get back to $10,000. The fact that we are even seriously discussing these price levels as a possibility at this time shows how sentiment has significantly shifted to become more positive. As digital asset prices rise, the sector will come under the spotlight more and we expect a greater number of exciting investment opportunities to present themselves, providing KR1 with more projects to scrutinise and assess along with the current ones we are invested in.” George McDonaugh, CEO, KR1 The cryptocurrency community being primarily focused around twitter leads to an unhealthy dynamic. In the quest to get more followers, people chase tweeting hype rather than reality, rationality and caution. When we’re talking about financial products, this is irresponsible. — Angus Champion de Crespigny (@anguschampion) April 21, 2019 “The fundamentals of Bitcoin, and cryptocurrencies more generally, are stronger than ever. It’s still too early to accurately say that Bitcoin is now in bull market territory, but the evidence for this trend is increasing day by day. Once the $6,000 level is reached it will set the positive direction of travel for the rest of 2019.” Nigel Green, CEO, deVere Group “There will only be a handful of cryptocurrency winners…These winners would obviously win big.” Gavin Brown, Co-founder & Director, Blockchain Capital The post The blockchain/crypto week in quotes appeared first on Coin Rivet . || The blockchain/crypto week in quotes: “When it comes to investor protection, the Investor Education and Protection Fund (IEPFA) has to take a stand against certain things. Against ponzi schemes, we are taking a stand. We think that cryptocurrency is a ponzi scheme and it should be banned.” IEPFA CEO Anurag Agarwal “Bitcoin is volatile, but every time people think it’s dead, it goes up a little.” Gene Simmons, co-founder and frontman of 70s rock band Kiss “After learning about crypto, I knew I had to make it a part of our business. It’s a no-brainer to sign up with TravelbyBit. I am very excited that we are going to be the first to adopt BNB payments at Point of Sale, following the launch of the new Binance Chain .” Origin Kebabs General Manager Burhan Göktas 1/ STUNNED but not surprised by #Bitfinex #Tether news out of #NewYork . I'll let other cryptolawyers analyze it but here are two macro thoughts: (1) There's a big double standard here. (2) Exchanges, clean up your act–cryptographically prove your solvency https://t.co/u4vpjh7Kjw — Caitlin Long 🔑 (@CaitlinLong_) April 26, 2019 “The stars are aligning for a Bitcoin bull run. The short-term moving average for the price of Bitcoin has finally moved above the longer-term average, which is often referred to as a Golden Cross, so investors are starting to believe that we might just be approaching a new phase for the price of Bitcoin. Hitting the $6,000 mark shouldn’t be the focus though, the real question is whether we carry on above $6,000. Previously $6,000 has been a major support level, so it’s likely we’ll see a bit of a sell-off if $6,000 is reached, however if that sell-off is overcome, and the price remains consistently above $6,000, there would be some serious momentum and belief that we could see the price carry on rising over the next year to around 60-70% of the all-time high.” Simon Peters, Analyst, eToro Story continues Follow / unfollow bots are annoying If you want to grow your #BitcoinTwitter following just post the standard circle jerk nonsense *insert satoshi quote here* — Danny Brewster (@BtcDanny) April 24, 2019 People ask me why would someone from traditional investment world cross over to #Blockchain & #Crypto world? Because never in my 30 yrs of managing capital have I seen an asset that delivers on promise of return enhancement & risk reduction through low correlation like #Bitcoin — Mark W. Yusko (@MarkYusko) April 25, 2019 “What is preventing the banking industry from rushing into blockchain technology adoption? I think it’s mostly culture. I think the tipping point is about having an entrepreneurial culture, a willingness to push people to keep asking why.” Emmanuel Aidoo, Head of Digital Market Assets, Credit Suisse “I have been totally blindsided by this, really, really let down by Spotware.” Digitex Futures boss Adam Todd I feel all of CT willing bitcoin to go over $6k. It's like when Liverpool play and the Kop sucks the ball in the net. — Jon Walsh (@walshjonwalsh) April 23, 2019 “It is clear that the $6,000 level in Bitcoin is a key price point to overcome in order for this recent strength to be maintained, as this is the price that acted as significant support for a number of weeks in latter part of 2018. Breaking below it was a watershed moment that then saw the price fall off a cliff down to $3,100 in December as the ‘crypto winter’ was at its height. As Bitcoin edges back up, that previous $6,000 support level has now turned into resistance and is now firmly in the spotlight. A move back above here will bring the $10,000 level back in focus. I think breaking through it on its first attempt anytime this month is unlikely. What is most likely to happen is that it will test $6,000, fail and head back down back towards $4,000. I would expect the price to break through $6,000 on any second or third attempt and from there the aim would be to get back to $10,000. The fact that we are even seriously discussing these price levels as a possibility at this time shows how sentiment has significantly shifted to become more positive. As digital asset prices rise, the sector will come under the spotlight more and we expect a greater number of exciting investment opportunities to present themselves, providing KR1 with more projects to scrutinise and assess along with the current ones we are invested in.” George McDonaugh, CEO, KR1 The cryptocurrency community being primarily focused around twitter leads to an unhealthy dynamic. In the quest to get more followers, people chase tweeting hype rather than reality, rationality and caution. When we’re talking about financial products, this is irresponsible. — Angus Champion de Crespigny (@anguschampion) April 21, 2019 “The fundamentals of Bitcoin, and cryptocurrencies more generally, are stronger than ever. It’s still too early to accurately say that Bitcoin is now in bull market territory, but the evidence for this trend is increasing day by day. Once the $6,000 level is reached it will set the positive direction of travel for the rest of 2019.” Nigel Green, CEO, deVere Group “There will only be a handful of cryptocurrency winners…These winners would obviously win big.” Gavin Brown, Co-founder & Director, Blockchain Capital The post The blockchain/crypto week in quotes appeared first on Coin Rivet . || Warren Buffett Can’t Catch the S&P, Seems Envious of Bitcoin’s Success: ByCCN: Far be it from this columnist to criticize one of the most successful stock market investors of all time, but maybeWarren Buffett’sjust jealous of bitcoin. A stock market genius who began investing at 11 year’s old, Buffett’s company Berkshire Hathaway is now trailing the S&P 500. That’s got to hurt.
Worse, over the past decade, investors would have been better off putting their money into the S&P 500 than his company’s stock. TheFinancial Times, which interviewed Buffett, did the math, saying investing $1 into each Berkshire Hathaway and an S&P fund 10 years ago would be worth $2.40 and $3.20 today, respectively. Ouch.
Not to pour salt in the wound, but unlike Berkshire Hathaway, bitcoin – which Buffett once referred to as “rat poison squared” – has been trouncing the stock market. Maybe it’s not bitcoin that’s dangerous to the health of investors.
The S&P 500 has outperformed Warren Buffett’s stock year-to-date. | Source: Yahoo Finance
For more than five decades, Berkshire Hathaway outperformed the S&P 500 “by 2.5 million percentage points,” according to the FT. That’s why it’s so shocking that the stock has lagged over the last 10 years.
Meanwhile, asCCN previously reported, bitcoin’s returns of more than 400% over the last two-years far surpass the approximately 20% returns generated by the S&P 500. If Buffett’s stock can’t beat the S&P 500 for investors, no wonder he’s got an axe to grind with bitcoin, which is doing just that.
Read the full story on CCN.com. || Warren Buffett Can’t Catch the S&P, Seems Envious of Bitcoin’s Success: ByCCN: Far be it from this columnist to criticize one of the most successful stock market investors of all time, but maybeWarren Buffett’sjust jealous of bitcoin. A stock market genius who began investing at 11 year’s old, Buffett’s company Berkshire Hathaway is now trailing the S&P 500. That’s got to hurt.
Worse, over the past decade, investors would have been better off putting their money into the S&P 500 than his company’s stock. TheFinancial Times, which interviewed Buffett, did the math, saying investing $1 into each Berkshire Hathaway and an S&P fund 10 years ago would be worth $2.40 and $3.20 today, respectively. Ouch.
Not to pour salt in the wound, but unlike Berkshire Hathaway, bitcoin – which Buffett once referred to as “rat poison squared” – has been trouncing the stock market. Maybe it’s not bitcoin that’s dangerous to the health of investors.
The S&P 500 has outperformed Warren Buffett’s stock year-to-date. | Source: Yahoo Finance
For more than five decades, Berkshire Hathaway outperformed the S&P 500 “by 2.5 million percentage points,” according to the FT. That’s why it’s so shocking that the stock has lagged over the last 10 years.
Meanwhile, asCCN previously reported, bitcoin’s returns of more than 400% over the last two-years far surpass the approximately 20% returns generated by the S&P 500. If Buffett’s stock can’t beat the S&P 500 for investors, no wonder he’s got an axe to grind with bitcoin, which is doing just that.
Read the full story on CCN.com. || Facebook blocks Origin Kebabs Bitcoin payments ad: Australian fast food chain Origin Kebabs is now accepting Bitcoin payments in four of its Queensland stores, with more set to follow in the near future. The likes of Binance Coin, Ethereum and Litecoin are also accepted and the venture has integrated Lightning Network functionality in conjunction with blockchain platform TravelbyBit, which is partly owned by Binance. The latter entered Australia in March with the launch of Binance Lite, meaning that people can exchange small amounts of cash for Bitcoin at over 1,300 news agencies, and spend at Origin Kebabs. Origin Kebabs General Manager Burhan Göktas comments: “After learning about crypto, I knew I had to make it a part of our business. It’s a no-brainer to sign up with TravelbyBit. I am very excited that we are going to be the first to adopt BNB payments at Point of Sale, following the launch of the new Binance Chain .” Facebook says no The company wanted to promote the move on Facebook, but, alas, the social media giant wasn’t having it. “So we tried to boost our “now we accept Bitcoins” post and this is what FB has to say about it,” the former said in a post, flagging up an alert in which Facebook took issue with its ad because it “promotes financial products and services such as binary options and initial coin offerings that are frequently associated with misleading or deceptive promotional practices.” We’re not talking about an ICO here, so go figure. One Facebook follower suggested the block was down to the use of the word Bitcoin. “Facebook autoflagged it, thinking you were a scammy binary option. Add the text to the image and it will get approved, no questions asked”. ‘Use ‘virtual currency’ instead,” another said. Facebook did not respond to our request for comment. The post Facebook blocks Origin Kebabs Bitcoin payments ad appeared first on Coin Rivet . || Facebook blocks Origin Kebabs Bitcoin payments ad: Australian fast food chain Origin Kebabs is now accepting Bitcoin payments in four of its Queensland stores, with more set to follow in the near future. The likes of Binance Coin, Ethereum and Litecoin are also accepted and the venture has integrated Lightning Network functionality in conjunction with blockchain platform TravelbyBit, which is partly owned by Binance. The latter entered Australia in March with the launch of Binance Lite, meaning that people can exchange small amounts of cash for Bitcoin at over 1,300 news agencies, and spend at Origin Kebabs. Origin Kebabs General Manager Burhan Göktas comments: “After learning about crypto, I knew I had to make it a part of our business. It’s a no-brainer to sign up with TravelbyBit. I am very excited that we are going to be the first to adopt BNB payments at Point of Sale, following the launch of the new Binance Chain .” Facebook says no The company wanted to promote the move on Facebook, but, alas, the social media giant wasn’t having it. “So we tried to boost our “now we accept Bitcoins” post and this is what FB has to say about it,” the former said in a post, flagging up an alert in which Facebook took issue with its ad because it “promotes financial products and services such as binary options and initial coin offerings that are frequently associated with misleading or deceptive promotional practices.” We’re not talking about an ICO here, so go figure. One Facebook follower suggested the block was down to the use of the word Bitcoin. “Facebook autoflagged it, thinking you were a scammy binary option. Add the text to the image and it will get approved, no questions asked”. ‘Use ‘virtual currency’ instead,” another said. Facebook did not respond to our request for comment. The post Facebook blocks Origin Kebabs Bitcoin payments ad appeared first on Coin Rivet . || Facebook blocks Origin Kebabs Bitcoin payments ad: Australian fast food chain Origin Kebabs is now accepting Bitcoin payments in four of its Queensland stores, with more set to follow in the near future. The likes of Binance Coin, Ethereum and Litecoin are also accepted and the venture has integrated Lightning Network functionality in conjunction with blockchain platform TravelbyBit, which is partly owned by Binance. The latter entered Australia in March with the launch of Binance Lite, meaning that people can exchange small amounts of cash for Bitcoin at over 1,300 news agencies, and spend at Origin Kebabs. Origin Kebabs General Manager Burhan Göktas comments: “After learning about crypto, I knew I had to make it a part of our business. It’s a no-brainer to sign up with TravelbyBit. I am very excited that we are going to be the first to adopt BNB payments at Point of Sale, following the launch of the new Binance Chain .” Facebook says no The company wanted to promote the move on Facebook, but, alas, the social media giant wasn’t having it. “So we tried to boost our “now we accept Bitcoins” post and this is what FB has to say about it,” the former said in a post, flagging up an alert in which Facebook took issue with its ad because it “promotes financial products and services such as binary options and initial coin offerings that are frequently associated with misleading or deceptive promotional practices.” We’re not talking about an ICO here, so go figure. One Facebook follower suggested the block was down to the use of the word Bitcoin. “Facebook autoflagged it, thinking you were a scammy binary option. Add the text to the image and it will get approved, no questions asked”. ‘Use ‘virtual currency’ instead,” another said. Facebook did not respond to our request for comment. The post Facebook blocks Origin Kebabs Bitcoin payments ad appeared first on Coin Rivet .
[Social Media Buzz]
1. #BTC: $5245.28 (-1.16%)
2. #ETH: $154.68 (-2.29%)
3. #XRP: $0.29 (-1.62%)
4. #BCH: $241.53 (-8.35%)
5. #EOS: $4.52 (-4.59%)
6. #LTC: $67.61 (-3.77%)
7. #BNB: $21.61 (-5.2%)
8. #USDT: $1.00 (-0.11%)
9. #XLM: $0.10 (-2.78%)
10. #ADA: $0.07 (-4.26%)
#blockchain #crypto #altcoin || Bs/$: 6019.63 VES/USD +2.49%
Avg 24h: 5953.03 VES/USD
Apr 29, 2019 5:00 PM
https://yadio.io
6732.05 EUR 1.8692 COP
1814.50 PEN 8.8733 CLP
135.69 ARS 316.65 MXN
#bitcoin #venezuelapic.twitter.com/KzHaSZ9HEH || ...
|
5350.73, 5402.70, 5505.28, 5768.29, 5831.17, 5795.71, 5746.81, 5829.50, 5982.46, 6174.53
|
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 14699.20, 13925.80, 14026.60, 16099.80, 15838.50, 14606.50, 14656.20, 12952.20, 14156.40, 13657.20, 14982.10, 15201.00, 15599.20, 17429.50, 17527.00, 16477.60, 15170.10, 14595.40, 14973.30, 13405.80, 13980.60, 14360.20, 13772.00, 13819.80, 11490.50, 11188.60, 11474.90, 11607.40, 12899.20, 11600.10, 10931.40, 10868.40, 11359.40, 11259.40, 11171.40, 11440.70, 11786.30, 11296.40, 10106.30, 10221.10, 9170.54, 8830.75, 9174.91, 8277.01, 6955.27, 7754.00, 7621.30, 8265.59, 8736.98, 8621.90, 8129.97, 8926.57, 8598.31, 9494.63, 10166.40, 10233.90, 11112.70, 10551.80, 11225.30, 11403.70, 10690.40, 10005.00, 10301.10, 9813.07, 9664.73, 10366.70, 10725.60, 10397.90, 10951.00, 11086.40, 11489.70, 11512.60, 11573.30, 10779.90, 9965.57, 9395.01, 9337.55, 8866.00, 9578.63, 9205.12, 9194.85, 8269.81, 8300.86, 8338.35, 7916.88, 8223.68, 8630.65, 8913.47, 8929.28, 8728.47.
|
[Bitcoin Technical Analysis for 2018-03-22]
Volume: 5530390016, RSI (14-day): 43.57, 50-day EMA: 9855.53, 200-day EMA: 9160.87
[Wider Market Context]
Gold Price: 1326.60, Gold RSI: 52.54
Oil Price: 64.30, Oil RSI: 59.01
[Recent News (last 7 days)]
3 Technologies Apple Inc. Could Be Bringing In-House: Over the years,Apple(NASDAQ: AAPL)has brought the development of key technologies in-house in a bid to differentiate its products. Apple now develops all of the high-value portions of its A-series applications processors that power its iPhone and iPad lineup rather than relying on third-party chipmakers or even third-party technologies for integration into its chips.
Going forward, though, the tech titan is likely going to want to bring additional technologies in-house. Here are three technologies that Apple could take in-house in the not-so-distant future.
Image source: Apple.
Today, Apple's iPhones include a power management chip that's designed to Apple's specifications by a company calledDialog Semiconductor(NASDAQOTH: DLGNF). There have been rumors swirling around for months suggesting that Appleintends to design its own power management chips.
Apple's internal power management chips, according toNikkei Asian Review, are expected to be "the most advanced in the industry," and "could have processing capabilities that allow it to better monitor and control power consumption among various components."
Now, Dialog Semiconductor's CEO recently said (viaReuters) that Apple tasked Dialog with developing chips "for many devices for 2019 and 2020." What this suggests is that Dialog's position within Apple's devices is likely reasonably safe through 2020, but there seems to be a significant likelihood that beyond that time, Apple will switch over to using its own power management chips in its key products.
Every iPhone includes a chip known as a display driver integrated circuit (DDIC). A display driver is a critical component that has a substantial impact on the quality of the images rendered on a mobile display.
Apple is believed to source the display driver chips for its iPhones with liquid crystal displays, like the iPhone 8 series devices, fromSynaptics(NASDAQ: SYNA). A teardown report from TechInsights reveals thatSamsung(NASDAQOTH: SSNLF)supplies the display driver for the iPhone X.
According to a recent Bloomberg report, Apple is working on its own display driver chips for future MicroLED-based displays (MicroLED is the technology that Apple is betting on to succeed organic light emitting diode, or OLED). There were rumors swirling for a while beforehand, though, that Apple was workingon its own display driver chips for LCD-based (and possibly OLED-based) iPhones as well, so both Synaptics and Samsung are at risk of losing Apple's display driver chip business over the long term.
Such a loss wouldn't affect Samsung much (display driver chip sales are a small part of its overall business), though Synaptics would likely be significantly impacted, as display driver chip sales make up a significant portion of its overall business.
Today, Apple sources cellular modems and related components fromQualcomm(NASDAQ: QCOM)andIntel(NASDAQ: INTC). Qualcomm's share of iPhone modems has decreased in recent years as Intel has gained traction at Apple, and Intel is even believed to be the sole modem vendor for Apple'supcoming iPhone models.
That being said, Apple is the only major smartphone vendor left that uses stand-alone cellular modems. Stand-alone modems have several disadvantages compared to modems integrated directly into the applications processor, such as a larger footprint on the smartphone's logic board as well as higher potential power consumption.
Apple may eventually want to integrate the cellular modem functionality into its A-series applications processors -- something that'd likely require the company to design its own modem technology. Developing modems, especially ones that'll work on the wide range of networks that Apple's iPhones need to work on, is an exceptionally hard endeavor, but if the tech titan sees significant value in integrating the modem into its applications processor, it'll probably cut bothIntel and Qualcomm out for good.
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Ashraf Eassaowns shares of Intel and Qualcomm. The Motley Fool owns shares of and recommends Apple. The Motley Fool owns shares of Qualcomm and has the following options: long January 2020 $150 calls on Apple and short January 2020 $155 calls on Apple. The Motley Fool recommends Intel. The Motley Fool has adisclosure policy. || 3 Technologies Apple Inc. Could Be Bringing In-House: Over the years, Apple (NASDAQ: AAPL) has brought the development of key technologies in-house in a bid to differentiate its products. Apple now develops all of the high-value portions of its A-series applications processors that power its iPhone and iPad lineup rather than relying on third-party chipmakers or even third-party technologies for integration into its chips. Going forward, though, the tech titan is likely going to want to bring additional technologies in-house. Here are three technologies that Apple could take in-house in the not-so-distant future. Apple's iPhone X. Image source: Apple. 1. Power management chip Today, Apple's iPhones include a power management chip that's designed to Apple's specifications by a company called Dialog Semiconductor (NASDAQOTH: DLGNF) . There have been rumors swirling around for months suggesting that Apple intends to design its own power management chips . Apple's internal power management chips, according to Nikkei Asian Review , are expected to be "the most advanced in the industry," and "could have processing capabilities that allow it to better monitor and control power consumption among various components." Now, Dialog Semiconductor's CEO recently said (via Reuters ) that Apple tasked Dialog with developing chips "for many devices for 2019 and 2020." What this suggests is that Dialog's position within Apple's devices is likely reasonably safe through 2020, but there seems to be a significant likelihood that beyond that time, Apple will switch over to using its own power management chips in its key products. 2. Display drivers Every iPhone includes a chip known as a display driver integrated circuit (DDIC). A display driver is a critical component that has a substantial impact on the quality of the images rendered on a mobile display. Apple is believed to source the display driver chips for its iPhones with liquid crystal displays, like the iPhone 8 series devices, from Synaptics (NASDAQ: SYNA) . A teardown report from TechInsights reveals that Samsung (NASDAQOTH: SSNLF) supplies the display driver for the iPhone X. Story continues According to a recent Bloomberg report, Apple is working on its own display driver chips for future MicroLED-based displays (MicroLED is the technology that Apple is betting on to succeed organic light emitting diode, or OLED). There were rumors swirling for a while beforehand, though, that Apple was working on its own display driver chips for LCD-based (and possibly OLED-based) iPhones as well , so both Synaptics and Samsung are at risk of losing Apple's display driver chip business over the long term. Such a loss wouldn't affect Samsung much (display driver chip sales are a small part of its overall business), though Synaptics would likely be significantly impacted, as display driver chip sales make up a significant portion of its overall business. 3. Cellular chips Today, Apple sources cellular modems and related components from Qualcomm (NASDAQ: QCOM) and Intel (NASDAQ: INTC) . Qualcomm's share of iPhone modems has decreased in recent years as Intel has gained traction at Apple, and Intel is even believed to be the sole modem vendor for Apple's upcoming iPhone models . That being said, Apple is the only major smartphone vendor left that uses stand-alone cellular modems. Stand-alone modems have several disadvantages compared to modems integrated directly into the applications processor, such as a larger footprint on the smartphone's logic board as well as higher potential power consumption. Apple may eventually want to integrate the cellular modem functionality into its A-series applications processors -- something that'd likely require the company to design its own modem technology. Developing modems, especially ones that'll work on the wide range of networks that Apple's iPhones need to work on, is an exceptionally hard endeavor, but if the tech titan sees significant value in integrating the modem into its applications processor, it'll probably cut both Intel and Qualcomm out for good . More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Ashraf Eassa owns shares of Intel and Qualcomm. The Motley Fool owns shares of and recommends Apple. The Motley Fool owns shares of Qualcomm and has the following options: long January 2020 $150 calls on Apple and short January 2020 $155 calls on Apple. The Motley Fool recommends Intel. The Motley Fool has a disclosure policy . || 2 No-Brainer Stocks to Buy in Fast Food: It can be tempting to let your investing decisions get more complicated than necessary. Projecting cash flow into the next decade while trying to assign odds to several possible competitive disruptions might feel like due diligence, but at some point it just clouds the picture. The best investments have such killer advantages that you don't need to have a precise picture on what an industry might look like years into the future. The company, in other words, can generate strong returns under a wide range of scenarios. Today, I'm looking at few fast food stocks that meet that high standard. Read on to see why McDonald's (NYSE: MCD) and Starbucks (NASDAQ: SBUX) should be able to translate their dominant brands and rock-solid finances into market-beating investment returns from here. McDonald's for its growth McDonald's has reclaimed first place in the industry after an awesome 2017 that saw comparable-store sales growth come roaring back after a two-year market share slide. The fast-food titan made a few menu improvements that kept customers from fleeing to more upscale casual dining eateries. But its rebound also leaned heavily on its core competitive strength, including iconic items like the Egg McMuffin, Big Mac, and Quarter Pounder. Promoting these mainstays helped spur a 2% customer traffic boost last year that included higher guest counts across each of its geographic sales territories. Two men and two women sharing a fast food meal. Image source: Getty Images. CEO Steve Easterbrook and his team don't plan to take a break in 2018. Instead, they're set to spend an aggressive $2.4 billion on capital initiatives, including store remodels and a new home delivery infrastructure. And yet investors have every reason to expect higher earnings and increased cash returns ahead, in part thanks to a refranchising initiative that should push profit margin to an industry-thumping mid-40% range by 2019. Starbucks for its global leadership Starbucks has been struggling for more than a year with declining customer traffic growth. That issue combined with poor merchandising over the holiday season to produce an unusually weak fiscal first quarter for the beverage titan. Comps were up just 2% in the U.S. market to pull overall growth just below management's target of between 3% and 5%. Story continues Two coffee cups topped with milk froth on a wooden table Image source: Getty Images. Sure, the slip-up could mean that the coffee king will miss its operating goals for the second straight fiscal year. But that's not the same as saying Starbucks is running out of growth avenues. On the contrary, it owns one of the most successful brands in China, a market that's expected to reach many multiples of the size of the U.S. division over time. Customer traffic jumped 6% there in the most recent quarter to add weight to management's claim that they've "cracked the code on China." Meanwhile, a rebound in the U.S. segment will come down to Starbucks' ability to extend its breakfast snack and coffee dominance in the peak early morning hours into the afternoon. A bigger lunch menu is already helping, as food sales reached a record 20% of the business in fiscal 2017 and made a further uptick to 21% at the start of fiscal 2018. Thus, even if Starbucks comes up a bit shy of its annual goals this year, the long-term outlook is bright. It aims to expand overall revenue in the high single digits as it adds thousands of stores to its sales base each year. And, with a return on invested capital that's among the best in the industry, Starbucks' shareholders can have confidence in the company's ability to improve profits at a double-digit pace for the foreseeable future. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Demitrios Kalogeropoulos owns shares of McDonald's and Starbucks. The Motley Fool owns shares of and recommends Starbucks. The Motley Fool has a disclosure policy . || 2 No-Brainer Stocks to Buy in Fast Food: It can be tempting to let your investing decisions get more complicated than necessary. Projecting cash flow into the next decade while trying to assign odds to several possible competitive disruptions might feel like due diligence, but at some point it just clouds the picture.
The best investments have such killer advantages that you don't need to have a precise picture on what an industry might look like years into the future. The company, in other words, can generate strong returns under a wide range of scenarios.
Today, I'm looking at few fast food stocks that meet that high standard. Read on to see whyMcDonald's(NYSE: MCD)andStarbucks(NASDAQ: SBUX)should be able to translate their dominant brands and rock-solid finances into market-beating investment returns from here.
McDonald's has reclaimed first place in the industry after anawesome 2017that saw comparable-store sales growth come roaring back after a two-year market share slide. The fast-food titan made a few menu improvements that kept customers from fleeing to more upscale casual dining eateries. But its rebound also leaned heavily on its core competitive strength, including iconic items like the Egg McMuffin, Big Mac, and Quarter Pounder.
Promoting these mainstays helped spur a 2% customer traffic boost last year that included higher guest counts across each of its geographic sales territories.
Image source: Getty Images.
CEO Steve Easterbrook and his team don't plan to take a break in 2018. Instead, they'reset to spend an aggressive $2.4 billionon capital initiatives, including store remodels and a new home delivery infrastructure.
And yet investors have every reason to expect higher earnings and increased cash returns ahead, in part thanks to arefranchising initiativethat should push profit margin to an industry-thumping mid-40% range by 2019.
Starbucks has been struggling for more than a year with declining customer traffic growth. That issue combined with poor merchandising over the holiday season to produce an unusually weak fiscal first quarter for the beverage titan. Comps were upjust 2% in the U.S. marketto pull overall growth just below management's target of between 3% and 5%.
Image source: Getty Images.
Sure, the slip-up could mean that the coffee king will miss its operating goals for the second straight fiscal year. But that's not the same as saying Starbucks is running out of growth avenues. On the contrary, it owns one of the most successful brands in China, a market that's expected to reach many multiples of the size of the U.S. division over time. Customer traffic jumped 6% there in the most recent quarter to add weight tomanagement's claimthat they've "cracked the code on China."
Meanwhile, a rebound in the U.S. segment will come down to Starbucks' ability to extend its breakfast snack and coffee dominance in the peak early morning hours into the afternoon. A bigger lunch menu is already helping, as food sales reached a record 20% of the business in fiscal 2017 and made a further uptick to 21% at the start of fiscal 2018.
Thus, even if Starbucks comes up a bit shy of its annual goals this year, the long-term outlook is bright. It aims to expand overall revenue in the high single digits as it adds thousands of stores to its sales base each year. And, with a return on invested capital that's among the best in the industry, Starbucks' shareholders can have confidence in the company's ability to improve profits at a double-digit pace for the foreseeable future.
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Demitrios Kalogeropoulosowns shares of McDonald's and Starbucks. The Motley Fool owns shares of and recommends Starbucks. The Motley Fool has adisclosure policy. || Salesforce.com, Inc.'s $6.5 Billion Acquisition: What You Need to Know: Cloud-based customer relationship management platformsalesforce.com(NYSE: CRM)announced a definitive agreement to acquire information technology companyMuleSoft(NYSE: MULE)this week,sending MuleSoft shares skyrocketinga total of about 30% higher in the last two trading days as the time of this writing. Representing Salesforce's largest acquisition ever, investors have good reason to take a close look at the deal.
Here's what investors should know.
Image source: Getty Images.
The deal will consist of both cash and equity. Salesforce said it will pay $36 in cash and 0.0711 shares of Salesforce per MuleSoft Class A and Class B common share. This amounts to a total of $44.89 per MuleSoft share at the time of the announcement and a 36% premium over MuleSoft's closing price on March 19.
MuleSoft is a leading integration platform that uses an API (application program interface)-led approach to connecting organizations to application, data, and devices.
With $297 million in annual revenue last year, MuleSoft is significantly smaller than Salesforce, which raked in about $10.5 billion in revenue in the company's trailing-12-month reported period.
What MuleSoft has going for it is its growth. MuleSoft revenue jumped 58% year over year in 2017. And fourth-quarter revenue was up 60% year over year.
This growth is well ahead of Salesforce's revenue growth recently. Revenue in Salesforce's fiscal 2018 climbed 25% year over year. And management expects this growth to decelerate, as it is guiding for 20% to 21% revenue growth in fiscal 2018. Salesforce's guidance, though,consistently proves to be conservative.
With MuleSoft's revenue growth well above Salesforce's, the acquisition would help fuelSalesforce's growth ambitions. Indeed, growth seems to be a major focus of the acquisition, as Salesforce said in its press release about the deal that MuleSoft "will be able to accelerate its growth and deliver even more innovation to its customers at scale."
But MuleSoft is still facing headwinds when it comes to profitability. For instance, MuleSoft's fourth-quarter non-GAAP operating loss of $16 million was wider than its $11 million loss in the year-ago quarter. Similarly, its full-year 2017 non-GAAP operating loss was about $80 million -- wider than a loss of $48 million in 2016.
Salesforce said MuleSoft will power a "new Salesforce Integration Cloud," or a segment that enables enterprises to surface data and "drive deep intelligent customer experiences throughout a personalized 1:1 journey."
This would expand Salesforce's existing subscription and support revenue segments, which currently include its sales cloud, service cloud, Salesforce platform and other, and marketing and commerce cloud.
The deal would also notably bring over 1,200 customers under Salesforce's business, including some major customers likeCoca-ColaandUnilever.
Pending customary closing conditions, Salesforce and MuleSoft expect the acquisition to close sometime in the second quarter of Salesforce's fiscal 2019 -- a period that ends July 31, 2018.
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Daniel Sparkshas no position in any of the stocks mentioned. The Motley Fool recommends MuleSoft and Salesforce.com. The Motley Fool has adisclosure policy. || ABA Tax Experts Ask IRS to Create Safe Harbor for Cryptocurrency Hard Forks: The American Bar Association (ABA) Section of Taxation has formally asked the US Internal Revenue Service (IRS) to create a safe harbor for investment gains realized from cryptocurrency hard forks.
In theletter, which was drafted by Section Chair Karen Hawkins, the ABA noted that several major developments have occurred in the cryptoasset space since 2014 when the IRS first provided guidance on how the agency treats cryptocurrency investments for federal tax purposes.
Chief among the Section’s concerns is a need for clear guidance on how investors should report gains associated withhard forks, which cause a blockchain to split into more than one version and provide current coin-holders with funds on both chains.
The most prominent example of this was theBitcoin Cashhard fork, which awarded Bitcoin holders with an equivalent number of coins — coins that are presently worth $1,064 each.
SinceUS tax returnsare due in less than a month, the Section recommended that the IRS adopt a “temporary rule, in the form of a safe harbor” for taxpayers who received funds from hard forks.
According to the Section’s proposed language, the hard fork would constitute a taxable event, but the initial value of the forked coins would be $0.
“Taxpayers who owned a coin that was subject to a Hard Fork in 2017 would be treated as having realized the forked coin resulting from the Hard Fork in a taxable event,” Hawkins wrote in the proposed guidelines. “The deemed value of the forked coin at the time of the realization event would be zero, which would also be the taxpayer’s basis in the forked coin.”
Consequently, investors would not have topay taxeson the market value of the coins unless they later sold or otherwise disposed of them, at which point they would be taxed at full market value as capital gains — not ordinary income.
Though perhaps not a perfect solution, the Section argued that this treatment — at least for tax year 2017 — represented the most reasonable approach for both the IRS and taxpayers.
“This temporary rule has the benefit of encouraging consistency among taxpayers with respect to 2017 Hard Forks, avoiding difficult timing and valuation issues (including the ability of taxpayers to benefit from hindsight depending on how the values fluctuated during 2017), and providing information to the Service regarding holders of the original and forked cryptocurrencies,” Hawkins concluded.
Featured image from Shutterstock.
The postABA Tax Experts Ask IRS to Create Safe Harbor for Cryptocurrency Hard Forksappeared first onCCN. || ABA Tax Experts Ask IRS to Create Safe Harbor for Cryptocurrency Hard Forks: Bitcoin tax The American Bar Association (ABA) Section of Taxation has formally asked the US Internal Revenue Service (IRS) to create a safe harbor for investment gains realized from cryptocurrency hard forks. In the letter , which was drafted by Section Chair Karen Hawkins, the ABA noted that several major developments have occurred in the cryptoasset space since 2014 when the IRS first provided guidance on how the agency treats cryptocurrency investments for federal tax purposes. Chief among the Section’s concerns is a need for clear guidance on how investors should report gains associated with hard forks , which cause a blockchain to split into more than one version and provide current coin-holders with funds on both chains. The most prominent example of this was the Bitcoin Cash hard fork, which awarded Bitcoin holders with an equivalent number of coins — coins that are presently worth $1,064 each. Since US tax returns are due in less than a month, the Section recommended that the IRS adopt a “temporary rule, in the form of a safe harbor” for taxpayers who received funds from hard forks. According to the Section’s proposed language, the hard fork would constitute a taxable event, but the initial value of the forked coins would be $0. “Taxpayers who owned a coin that was subject to a Hard Fork in 2017 would be treated as having realized the forked coin resulting from the Hard Fork in a taxable event,” Hawkins wrote in the proposed guidelines. “The deemed value of the forked coin at the time of the realization event would be zero, which would also be the taxpayer’s basis in the forked coin.” Consequently, investors would not have to pay taxes on the market value of the coins unless they later sold or otherwise disposed of them, at which point they would be taxed at full market value as capital gains — not ordinary income. Though perhaps not a perfect solution, the Section argued that this treatment — at least for tax year 2017 — represented the most reasonable approach for both the IRS and taxpayers. “This temporary rule has the benefit of encouraging consistency among taxpayers with respect to 2017 Hard Forks, avoiding difficult timing and valuation issues (including the ability of taxpayers to benefit from hindsight depending on how the values fluctuated during 2017), and providing information to the Service regarding holders of the original and forked cryptocurrencies,” Hawkins concluded. Featured image from Shutterstock. The post ABA Tax Experts Ask IRS to Create Safe Harbor for Cryptocurrency Hard Forks appeared first on CCN . View comments || What Happened in the Stock Market Today: Stocks gyrated on Wednesday as the market digested the widely expected announcement of a quarter-point increase in short-term interest rates. The Dow Jones Industrial Average (DJINDICES: ^DJI) and the S&P 500 (SNPINDEX: ^GSPC) dipped and recovered, but ultimately closed down. Today's stock market Index Percentage Change Point Change Dow (0.18%) (44.96) S&P 500 (0.18%) (5.01) Data source: Yahoo! Finance. Tech shares continued their slide, originally triggered by news of mishandling of personal data by Facebook , although its stock managed a small gain today. The Technology Select Sector SPDR ETF (NYSEMKT: XLK) fell 0.6%. Energy shares rose sharply on higher crude prices; the Energy Select Sector SPDR ETF (NYSEMKT: XLE) gained 2.6%. As for individual stocks, salesforce.com (NYSE: CRM) announced a previously rumored acquisition of MuleSoft, Inc. (NYSE: MULE) , and General Mills (NYSE: GIS) gave a disappointing profit outlook. Bull and bear with up and down arrows. Image source: Getty Images. Salesforce goes shopping Cloud software pioneer Salesforce announced yesterday after market close that it is acquiring MuleSoft in a $6.5 billion cash-and-stock deal. MuleSoft jumped 5.3% after gaining 27% on Tuesday when news of the deal leaked, while Salesforce shares dipped 2.7%. MuleSoft shareholders will receive $36 in cash and 0.0711 shares of Salesforce common stock, for a total value of $44.89 per share, based on the price of Salesforce shares at Monday's close. MuleSoft went public a year ago. It makes a software platform that allows companies to build application networks, joining together disparate cloud-based and on-premise applications, databases, and devices. The company is relatively small, having generated only $296.5 million in revenue last year, but is growing rapidly . In its most recent quarter, MuleSoft posted a non- GAAP loss of $0.12 per share. "Every digital transformation starts and ends with the customer," said Salesforce CEO Marc Benioff in the press release. "Together, Salesforce and MuleSoft will enable customers to connect all of the information throughout their enterprise across all public and private clouds and data sources -- radically enhancing innovation. I am thrilled to welcome MuleSoft to the Salesforce Ohana ." Story continues Salesforce has proven adept at snapping up software companies to enhance its offerings, helping to fuel its ambitious top-line growth goals . The price tag of 22 times revenue may be breathtaking, but with cloud software now one of the hottest areas of growth in technology, the purchase could well pay off in the long run. General Mills sinks on rising costs Shares of General Mills slumped 8.9% after the company reported fiscal third-quarter sales and earnings that beat expectations, but slashed its profit outlook for the year. Sales increased 2.3% to $3.88 billion compared with analyst expectations of $3.78 billion, and adjusted earnings per share came in at $0.79, beating the consensus forecast by $0.01. Despite the earnings beat, CEO Jeff Harmening sounded the alarm on rising costs, saying in the press release: Our primary goal this year has been to strengthen our topline performance while maintaining our efficiency. While I'm pleased that we're delivering on the first part of that goal, with strong consumer marketing, innovation, and in-store execution leading to a second consecutive quarter of organic net sales growth, I'm disappointed in our results on the bottom line. Our third-quarter operating profit fell well short of our expectations, and cost pressures are impacting our full-year outlook. Looking forward, General Mills cut its operating income forecast from previous guidance of flat to minus 1% to a decline of between 5% and 6%. The company blamed "higher-than-expected supply chain costs, including freight and logistics." General Mills is trying to reinvigorate growth by divesting older, stagnant brands and replacing them with new growth businesses, as exemplified by its acquisition of Blue Buffalo Pet Products . But the headwind of input cost inflation, especially shipping expenses, is turning out to be stronger than expected. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Jim Crumly owns shares of FB and Salesforce.com. The Motley Fool owns shares of and recommends FB. The Motley Fool is short shares of General Mills. The Motley Fool recommends MuleSoft and Salesforce.com. The Motley Fool has a disclosure policy . || What Happened in the Stock Market Today: Stocks gyrated on Wednesday as the market digested the widely expected announcement of a quarter-point increase in short-term interest rates. TheDow Jones Industrial Average(DJINDICES: ^DJI)and theS&P 500(SNPINDEX: ^GSPC)dipped and recovered, but ultimately closed down.
[{"Index": "Dow", "Percentage Change": "(0.18%)", "Point Change": "(44.96)"}, {"Index": "S&P 500", "Percentage Change": "(0.18%)", "Point Change": "(5.01)"}]
Data source: Yahoo! Finance.
Tech shares continued their slide, originally triggered bynews of mishandling of personal databyFacebook, although its stock managed a small gain today. TheTechnology Select Sector SPDR ETF(NYSEMKT: XLK)fell 0.6%. Energy shares rose sharply on higher crude prices; theEnergy Select Sector SPDR ETF(NYSEMKT: XLE)gained 2.6%.
As for individual stocks,salesforce.com(NYSE: CRM)announced a previously rumored acquisition ofMuleSoft, Inc.(NYSE: MULE), andGeneral Mills(NYSE: GIS)gave a disappointing profit outlook.
Image source: Getty Images.
Cloud software pioneer Salesforce announced yesterday after market close that it is acquiring MuleSoft in a $6.5 billion cash-and-stock deal. MuleSoft jumped 5.3% after gaining 27% on Tuesday whennews of the dealleaked, while Salesforce shares dipped 2.7%. MuleSoft shareholders will receive $36 in cash and 0.0711 shares of Salesforce common stock, for a total value of $44.89 per share, based on the price of Salesforce shares at Monday's close.
MuleSoft went public a year ago. It makes a software platform that allows companies to build application networks, joining together disparate cloud-based and on-premise applications, databases, and devices. The company is relatively small, having generated only $296.5 million in revenue last year, but isgrowing rapidly. In its most recent quarter, MuleSoft posted a non-GAAPloss of $0.12 per share.
"Every digital transformation starts and ends with the customer," said Salesforce CEO Marc Benioff in the press release. "Together, Salesforce and MuleSoft will enable customers to connect all of the information throughout their enterprise across all public and private clouds and data sources -- radically enhancing innovation. I am thrilled to welcome MuleSoft to theSalesforce Ohana."
Salesforce has proven adept at snapping up software companies to enhance its offerings, helping to fuel its ambitioustop-line growth goals. The price tag of 22 times revenue may be breathtaking, but withcloud softwarenow one of the hottest areas of growth in technology, the purchase could well pay off in the long run.
Shares of General Millsslumped 8.9%after the company reported fiscal third-quarter sales and earnings that beat expectations, but slashed its profit outlook for the year. Sales increased 2.3% to $3.88 billion compared with analyst expectations of $3.78 billion, and adjusted earnings per share came in at $0.79, beating the consensus forecast by $0.01.
Despite the earnings beat, CEO Jeff Harmening sounded the alarm on rising costs, saying in the press release:
Our primary goal this year has been to strengthen our topline performance while maintaining our efficiency. While I'm pleased that we're delivering on the first part of that goal, with strong consumer marketing, innovation, and in-store execution leading to a second consecutive quarter of organic net sales growth, I'm disappointed in our results on the bottom line. Our third-quarter operating profit fell well short of our expectations, and cost pressures are impacting our full-year outlook.
Looking forward, General Mills cut its operating income forecast from previous guidance of flat to minus 1% to a decline of between 5% and 6%. The company blamed "higher-than-expected supply chain costs, including freight and logistics."
General Mills is trying to reinvigorate growth by divesting older, stagnant brands and replacing them with new growth businesses, as exemplified by itsacquisition of Blue Buffalo Pet Products. But the headwind of input cost inflation, especially shipping expenses, is turning out to be stronger than expected.
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Jim Crumlyowns shares of FB and Salesforce.com. The Motley Fool owns shares of and recommends FB. The Motley Fool is short shares of General Mills. The Motley Fool recommends MuleSoft and Salesforce.com. The Motley Fool has adisclosure policy. || Steelcase Inc. Weighs the Ups and Downs of Trump's Policies: On Tuesday night office furniture giant Steelcase (NYSE: SCS) reported earnings covering the fourth quarter of fiscal 2018. The company exceeded Wall Street's expectations across the board, and Steelcase shares were trading 5.7% higher at 1 p.m. EDT Wednesday. Steelcase's fourth quarter by the numbers Metric Q4 2018 Q4 2017 Year-Over-Year Change Revenue $773 million $769 million 0.5% GAAP net income Break-even $26 million Down Adjusted earnings per diluted share $0.24 $0.22 9% Data source: Steelcase. Steelcase's bottom line stopped within a rounding error of zero dollars in standard accounting terms. Backing out a one-time tax charge of $28 million, you get the adjusted figures listed above. The unique tax item was a noncash revision of Steelcase's deferred tax assets, based on December's tax cuts and new treatment of earnings collected beyond U.S. borders. Beyond these accounting quirks, Steelcase delivered a solid report. Your average Wall Street analyst would have settled for adjusted earnings near $0.16 per diluted share, culled from top-line sales of roughly $750 million. The actual results left these targets far behind. In management's guidance for the fourth quarter, the top end of Steelcase's revenue forecast stopped at $765 million. The high end of the official earnings guidance range was $0.16 per share. According to Steelcase's internal estimates, office furniture shipments have been rising steadily since 2009 in the U.S., while European unit volumes are climbing back from a more recent trough in 2013. These trends are expected to continue in the newly started fiscal 2019 and beyond -- and that's where the tax changes enter the conversation again. Rows of workspaces in a modern, open office. Open office spaces like this one are all the rage, and Steelcase is tapping into that trend. Image source: Getty Images. Uncle Sam's effects on Steelcase's future Steelcase CEO Jim Keane naturally expects a bottom-line lift from the new, lower corporate tax rates in America. But it's more than just a change to Steelcase's own tax payments. In this environment, Keane sees corporate CEOs getting more comfortable with increasing their office furniture budgets, and rising CEO confidence has historically been a good indicator of upcoming order volumes for Steelcase. Story continues The company isn't enjoying all of the Trump administration's recent moves, though. Being a major consumer of raw steel and aluminum materials, Steelcase expects to feel the pinch from high tariffs on imported metals . The company uses mostly domestic aluminum and steel, but those prices started rising even before the import tariffs had been finalized. Keane outlined a $10 million impact on his company's annual production costs from this factor, and it will take some time before Steelcase can shift the higher costs over to its customers in the form of higher prices. All told, Jim Keane doesn't love Trump's tariffs. "It is unfortunate that this tariff intended to protect jobs in one important sector has the effect of reducing the competitiveness of those of us with the strong commitment to U.S. manufacturing who are potentially improving the competitive advantage of low cost importers," he said, according to a Seeking Alpha transcript of Steelcase's fourth-quarter earnings call. To be clear, the positive tax effects should outweigh the profit-slashing rise in production costs. What's next for Steelcase? Amid these puts and takes, Steelcase is moving forward with confidence. The company is launching plenty of new product lines focused on high-growth markets such as simpler workstations for open office environments. At the same time, stabilizing economies and political backdrops in key markets like France and Germany are helping Steelcase chase down high-margin contracts there. All told, Steelcase expects to deliver modest sales growth and widening gross margins in 2019, which should result in significantly higher earnings. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Anders Bylund has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy . || Steelcase Inc. Weighs the Ups and Downs of Trump's Policies: On Tuesday night office furniture giantSteelcase(NYSE: SCS)reported earnings covering the fourth quarter of fiscal 2018. The company exceeded Wall Street's expectations across the board, and Steelcase shares were trading 5.7% higher at 1 p.m. EDT Wednesday.
[{"Metric": "Revenue", "Q4 2018": "$773 million", "Q4 2017": "$769 million", "Year-Over-Year Change": "0.5%"}, {"Metric": "GAAP net income", "Q4 2018": "Break-even", "Q4 2017": "$26 million", "Year-Over-Year Change": "Down"}, {"Metric": "Adjusted earnings per diluted share", "Q4 2018": "$0.24", "Q4 2017": "$0.22", "Year-Over-Year Change": "9%"}]
Data source: Steelcase.
Steelcase's bottom line stopped within a rounding error of zero dollars in standard accounting terms. Backing out a one-time tax charge of $28 million, you get the adjusted figures listed above. The unique tax item was a noncash revision of Steelcase's deferred tax assets, based onDecember's tax cutsand new treatment of earnings collected beyond U.S. borders.
Beyond these accounting quirks, Steelcase delivered a solid report.
Your average Wall Street analyst would have settled for adjusted earnings near $0.16 per diluted share, culled from top-line sales of roughly $750 million. The actual results left these targets far behind. In management's guidance for the fourth quarter, the top end of Steelcase's revenue forecast stopped at $765 million. The high end of the official earnings guidance range was $0.16 per share.
According to Steelcase's internal estimates, office furniture shipments have been rising steadily since 2009 in the U.S., while European unit volumes are climbing back from a more recent trough in 2013. These trends are expected to continue in the newly started fiscal 2019 and beyond -- and that's where the tax changes enter the conversation again.
Open office spaces like this one are all the rage, and Steelcase is tapping into that trend. Image source: Getty Images.
Steelcase CEO Jim Keane naturally expects a bottom-line lift from the new, lower corporate tax rates in America. But it's more than just a change to Steelcase's own tax payments. In this environment, Keane sees corporate CEOs getting more comfortable with increasing their office furniture budgets, and rising CEO confidence has historically been a good indicator of upcoming order volumes for Steelcase.
The company isn't enjoying all of the Trump administration's recent moves, though.
Being a major consumer of raw steel and aluminum materials, Steelcase expects to feel the pinch fromhigh tariffs on imported metals. The company uses mostly domestic aluminum and steel, but those prices started rising even before the import tariffs had been finalized. Keane outlined a $10 million impact on his company's annual production costs from this factor, and it will take some time before Steelcase can shift the higher costs over to its customers in the form of higher prices.
All told, Jim Keane doesn't love Trump's tariffs.
"It is unfortunate that this tariff intended to protect jobs in one important sector has the effect of reducing the competitiveness of those of us with the strong commitment to U.S. manufacturing who are potentially improving the competitive advantage of low cost importers," he said, according to a Seeking Alphatranscriptof Steelcase's fourth-quarter earnings call.
To be clear, the positive tax effects should outweigh the profit-slashing rise in production costs.
Amid these puts and takes, Steelcase is moving forward with confidence. The company is launching plenty of new product lines focused on high-growth markets such as simpler workstations for open office environments. At the same time, stabilizing economies and political backdrops in key markets like France and Germany are helping Steelcase chase down high-margin contracts there.
All told, Steelcase expects to deliver modest sales growth and widening gross margins in 2019, which should result in significantly higher earnings.
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Anders Bylundhas no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has adisclosure policy. || Best Bond ETFs for Rising Rates, Inflation: This article was originally published onETFTrends.com.
As the growth outlook strengthens and the Federal Reserve responds with a tighter monetary policy, bond ETF investors will have to adapt to the changing market environment.
"Tax cuts and plans for more government spending are turning past headwinds to U.S. growth into tailwinds," BlackRock Strategists, led by Jeffrey Rosenberg, said in a research note. "One result: The market has now caught up with the median interest rate path projected by Federal Reserve policymakers."
Related:As Expected, Federal Reserve Delivers Rate Increase
Consequently, BlackRock now sees opportunities toward the front end of the yield curve, notably short-term debt.
"We see short-term U.S. debt offering relatively compelling income, with limited downside risk: Three Fed rate hikes are already priced in for this year, with the first likely this month," the BlackRock strategists said. "Markets could price in one additional quarterly hike after that Fed meeting (making a total of four for 2018), but we see a more rapid pace as unlikely."
Furthermore, technical factors like higher U.S. Treasury bill issuance due to a rising federal budget deficit are also adding to the factors pushing short-term yields higher. As a result, short-term Treasuries may provide positive real yields for the first time since the financial crisis, with income sufficient to offset inflation.
Investors interested in going down the yield curve has a number of options to gain broad exposure to short-term U.S. Treasuries. For instance, the iShares Short Treasury Bond ETF (SHV) is comprised of U.S. Treasury obligations with a maximum remaining term to maturity of 12 months - SHV shows a 1.56% 30-day SEC yield and a 0.39 year duration. The iShares 1-3 Year Treasury Bond ETF (SHY) tracks Treasuries with a one to three year maturity - SHY has a 2.13% 30-day SEC yield and a 1.92 year duration.
The BlackRock strategists also point to floating rate and inflation-linked securities to buffer against rising rates and inflation.
The iShares Treasury Floating Rate ETF (TFLO), provides exposure to U.S. floating rate Treasury bonds, whose interest payments adjust to reflect changes in interest rates. TFLO shows a 1.45% 30-day SEC yield and a 0.01 year effective duration.
The iShares 0-5 Year TIPS Bond ETF (STIP) tracks short-term U.S. TIPS, which are government bonds whose face value rises with inflation. STIP has a 3.76% 30-day SEC yield and a 2.53 year duration.
For more information on the fixed-income market, visit ourbond ETFs category.
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READ MORE AT ETFTRENDS.COM > || Best Bond ETFs for Rising Rates, Inflation: This article was originally published on ETFTrends.com. As the growth outlook strengthens and the Federal Reserve responds with a tighter monetary policy, bond ETF investors will have to adapt to the changing market environment. "Tax cuts and plans for more government spending are turning past headwinds to U.S. growth into tailwinds," BlackRock Strategists, led by Jeffrey Rosenberg, said in a research note. "One result: The market has now caught up with the median interest rate path projected by Federal Reserve policymakers." Related: As Expected, Federal Reserve Delivers Rate Increase Consequently, BlackRock now sees opportunities toward the front end of the yield curve, notably short-term debt. "We see short-term U.S. debt offering relatively compelling income, with limited downside risk: Three Fed rate hikes are already priced in for this year, with the first likely this month," the BlackRock strategists said. "Markets could price in one additional quarterly hike after that Fed meeting (making a total of four for 2018), but we see a more rapid pace as unlikely." Furthermore, technical factors like higher U.S. Treasury bill issuance due to a rising federal budget deficit are also adding to the factors pushing short-term yields higher. As a result, short-term Treasuries may provide positive real yields for the first time since the financial crisis, with income sufficient to offset inflation. Investors interested in going down the yield curve has a number of options to gain broad exposure to short-term U.S. Treasuries. For instance, the iShares Short Treasury Bond ETF ( SHV ) is comprised of U.S. Treasury obligations with a maximum remaining term to maturity of 12 months - SHV shows a 1.56% 30-day SEC yield and a 0.39 year duration. The iShares 1-3 Year Treasury Bond ETF ( SHY ) tracks Treasuries with a one to three year maturity - SHY has a 2.13% 30-day SEC yield and a 1.92 year duration. The BlackRock strategists also point to floating rate and inflation-linked securities to buffer against rising rates and inflation. The iShares Treasury Floating Rate ETF ( TFLO ), provides exposure to U.S. floating rate Treasury bonds, whose interest payments adjust to reflect changes in interest rates. TFLO shows a 1.45% 30-day SEC yield and a 0.01 year effective duration. The iShares 0-5 Year TIPS Bond ETF ( STIP ) tracks short-term U.S. TIPS, which are government bonds whose face value rises with inflation. STIP has a 3.76% 30-day SEC yield and a 2.53 year duration. For more information on the fixed-income market, visit our bond ETFs category . Story continues POPULAR ARTICLES FROM ETFTRENDS.COM Why Tech Stocks Are Getting Pricey Investing in Big India ETFs With Positive Outlook Bank ETFs Pick Up as Dodd-Frank Rolled Back 8% of Americans Own Bitcoin, Cryptocurrencies Will Wage Growth Drive Up Inflation? READ MORE AT ETFTRENDS.COM > View comments || Why Nutanix Isn’t Done Growing Yet: Shares ofNutanix(NASDAQ: NTNX)have been flying high on the stock market this year. The cloud computing specialist is taking advantage of the booming demand forhyper-converged cloud infrastructure, a market that could be worth $12 billion in 2022 thanks to a rapid annual growth rate of 43%.
Nutanix is firmly on track to make the most of this opportunity, as clearly evident from its second-quarter results. Let's look at how the company performed last quarter and why it probably isn't done growing yet.
Image Source: Getty Images.
Nutanix's revenue in the recently reported second quarter shot up 44% year over year to $287 million. It would have reported stronger growth, but the company eliminated $14 million worth of hardware-related revenue as it is pivoting its business toward a software-only model.
This shift in its business model should boost its push toward profitability. And the strategic shift is margin accretive already -- last quarter gross profit margin increased by 1.6% sequentially.
The margin improvements have positively impacted the bottom line despite a 20% increase in operating expenses. Nutanix's net loss fell 18% year over year to $62.6 million, and it can cut its losses further as the software shift gains momentum.
Nutanix currently gets 73% of its revenue from the software and support side of the business, with hardware revenue accounting for the rest. The company is on track to reduce hardware sales to just8% to 9% of total revenueby the end of the current fiscal year, so Nutanix will get closer to achieving profitability in the coming quarters.
Nutanix's terrific financial growth during the second quarter was driven by a rapid growth in its customer base. The company added 1,057 customers last quarter, taking its total customer base to 8,870. By comparison, Nutanix had 5,380 customers in the year-ago period and had added 900 new clients during that quarter.
Nutanix has just announced new incentives for its channel partners that could continue to boost sales. For instance, Nutanix's channel partners will be rewarded with a 5% rebate for bringing in new customers, and could also get a $3,000 rebate for each XC Core server node they sell. These initiatives will encourage the company's partners to push sales of Nutanix software and help the company tap more of the hyper-converged cloud infrastructure market.
Nutanix's customers are now striking bigger deals, showing the company's growing clout in the hyper-converged cloud space. Last quarter, Nutanix saw a 104% year-over-year increase in the number of $1-million-plus deals to 57. Additionally, the company struck five deals worth more than $3 million related to software and support.
The growth in Nutanix's deal size and customer count boosted the company's deferred revenue by 57% year over year to $478 million.Deferred revenueis the amount received by a company for services that will be delivered at a later date, and is a common metric used to forecast the growth of companies selling subscription-based services.
Nutanix's deferred revenue grew faster than actual revenue -- good news for investors as this indicates the growing demand for its software solutions. The company should continue reporting strong deferred revenue growth as it lands more subscription customers thanks to the recently deployed sales initiatives.
In all, Nutanix is doing what's needed to ride the hyper-converged cloud infrastructure growth wave. The company's customer count is increasing at a terrific rate, it is striking bigger deals with clients, and it is focusing on margin improvement by shifting to a software-based sales strategy. Anyone looking for a fast-growing cloud computing stock should definitely take a closer look at Nutanix.
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• Bitcoin's Biggest Competitor Isn't Ethereum -- It's This
Harsh Chauhanhas no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has adisclosure policy. || Why Nutanix Isn’t Done Growing Yet: Shares of Nutanix (NASDAQ: NTNX) have been flying high on the stock market this year. The cloud computing specialist is taking advantage of the booming demand for hyper-converged cloud infrastructure , a market that could be worth $12 billion in 2022 thanks to a rapid annual growth rate of 43%. Nutanix is firmly on track to make the most of this opportunity, as clearly evident from its second-quarter results. Let's look at how the company performed last quarter and why it probably isn't done growing yet. Computer key denoting cloud computing. Image Source: Getty Images. Nutanix is aggressively moving toward profitability Nutanix's revenue in the recently reported second quarter shot up 44% year over year to $287 million. It would have reported stronger growth, but the company eliminated $14 million worth of hardware-related revenue as it is pivoting its business toward a software-only model. This shift in its business model should boost its push toward profitability. And the strategic shift is margin accretive already -- last quarter gross profit margin increased by 1.6% sequentially. The margin improvements have positively impacted the bottom line despite a 20% increase in operating expenses. Nutanix's net loss fell 18% year over year to $62.6 million, and it can cut its losses further as the software shift gains momentum. Nutanix currently gets 73% of its revenue from the software and support side of the business, with hardware revenue accounting for the rest. The company is on track to reduce hardware sales to just 8% to 9% of total revenue by the end of the current fiscal year, so Nutanix will get closer to achieving profitability in the coming quarters. Its offerings are gaining great traction Nutanix's terrific financial growth during the second quarter was driven by a rapid growth in its customer base. The company added 1,057 customers last quarter, taking its total customer base to 8,870. By comparison, Nutanix had 5,380 customers in the year-ago period and had added 900 new clients during that quarter. Story continues Nutanix has just announced new incentives for its channel partners that could continue to boost sales. For instance, Nutanix's channel partners will be rewarded with a 5% rebate for bringing in new customers, and could also get a $3,000 rebate for each XC Core server node they sell. These initiatives will encourage the company's partners to push sales of Nutanix software and help the company tap more of the hyper-converged cloud infrastructure market. Nutanix's customers are now striking bigger deals, showing the company's growing clout in the hyper-converged cloud space. Last quarter, Nutanix saw a 104% year-over-year increase in the number of $1-million-plus deals to 57. Additionally, the company struck five deals worth more than $3 million related to software and support. The growth in Nutanix's deal size and customer count boosted the company's deferred revenue by 57% year over year to $478 million. Deferred revenue is the amount received by a company for services that will be delivered at a later date, and is a common metric used to forecast the growth of companies selling subscription-based services. Nutanix's deferred revenue grew faster than actual revenue -- good news for investors as this indicates the growing demand for its software solutions. The company should continue reporting strong deferred revenue growth as it lands more subscription customers thanks to the recently deployed sales initiatives. In all, Nutanix is doing what's needed to ride the hyper-converged cloud infrastructure growth wave. The company's customer count is increasing at a terrific rate, it is striking bigger deals with clients, and it is focusing on margin improvement by shifting to a software-based sales strategy. Anyone looking for a fast-growing cloud computing stock should definitely take a closer look at Nutanix. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Harsh Chauhan has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy . || Why Geron Corporation Stock Is Up Big Again Today: What happened Shares of clinical-stage biotech Geron Corp. (NASDAQ: GERN) rose by as much as 19.3% today on nearly six times the average daily volume. What's driving this double-digit move and massive surge in volume? Geron's stock has been on fire ever since the company reported its fourth-quarter earnings last Friday . The headline item was that company's experimental blood cancer drug, imetelstat, is reportedly trending in the right direction in its midstage trials for advanced myelofibrosis and myelodyspastic syndromes. As of 3:35 p.m. EDT, shares were up 19.1%. Microscopic image of human blood. Image Source: Getty Images. So what Geron is currently awaiting the all-important "continuation decision" by its partner Johnson & Johnson (NYSE: JNJ) in regards to imetelstat's future development. If J&J does decide to carry on with the drug's development, Geron will be in line for another milestone payment, presumably in the third or fourth quarter of this year. Because imetelstat has the clear potential to become a megablockbuster product, however, the more likely scenario is that J&J will simply buy Geron lock, stock, and barrel before the end of this year. J&J, after all, lost a good chunk of the growing revenue stream from blood cancer drug Imbruvica when it decided to play the waiting game with its developer, Pharmacyclics. J&J isn't likely to make the same mistake with Geron and imetelstat. Now what Geron's stock is presently pushing up against the critical $5 mark, which could prove to a pivotal point in the battle against short-sellers. Once Geron reaches or exceeds $5, after all, a broader range of institutional investors will be able to buy the stock. Equally as important, some brokerages will also remove their "low priced equity" fees at this point, and Geron's shares will become marginable as well. Put simply, short-sellers may be about to throw in the towel on Geron for the aforementioned reasons. And when they do, this promising developmental-stage biotech stock could take yet another leap higher . Stay tuned. Story continues More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This George Budwell owns shares of Geron. The Motley Fool owns shares of and recommends Johnson & Johnson. The Motley Fool has a disclosure policy . || Why Geron Corporation Stock Is Up Big Again Today: What happened Shares of clinical-stage biotech Geron Corp. (NASDAQ: GERN) rose by as much as 19.3% today on nearly six times the average daily volume. What's driving this double-digit move and massive surge in volume? Geron's stock has been on fire ever since the company reported its fourth-quarter earnings last Friday . The headline item was that company's experimental blood cancer drug, imetelstat, is reportedly trending in the right direction in its midstage trials for advanced myelofibrosis and myelodyspastic syndromes. As of 3:35 p.m. EDT, shares were up 19.1%. Microscopic image of human blood. Image Source: Getty Images. So what Geron is currently awaiting the all-important "continuation decision" by its partner Johnson & Johnson (NYSE: JNJ) in regards to imetelstat's future development. If J&J does decide to carry on with the drug's development, Geron will be in line for another milestone payment, presumably in the third or fourth quarter of this year. Because imetelstat has the clear potential to become a megablockbuster product, however, the more likely scenario is that J&J will simply buy Geron lock, stock, and barrel before the end of this year. J&J, after all, lost a good chunk of the growing revenue stream from blood cancer drug Imbruvica when it decided to play the waiting game with its developer, Pharmacyclics. J&J isn't likely to make the same mistake with Geron and imetelstat. Now what Geron's stock is presently pushing up against the critical $5 mark, which could prove to a pivotal point in the battle against short-sellers. Once Geron reaches or exceeds $5, after all, a broader range of institutional investors will be able to buy the stock. Equally as important, some brokerages will also remove their "low priced equity" fees at this point, and Geron's shares will become marginable as well. Put simply, short-sellers may be about to throw in the towel on Geron for the aforementioned reasons. And when they do, this promising developmental-stage biotech stock could take yet another leap higher . Stay tuned. Story continues More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This George Budwell owns shares of Geron. The Motley Fool owns shares of and recommends Johnson & Johnson. The Motley Fool has a disclosure policy . || Toyota will temporarily stop its self-driving-car tests after fatal autonomous Uber accident: toyota self driving Toyota In response to Sunday's fatal accident involving a self-driving Uber vehicle , Toyota will temporarily stop testing its Chauffeur autonomous-driving program in the US. Toyota had been testing the fully autonomous Chauffeur system in California and Michigan. The automaker was rumored to be in talks to purchase Uber's self-driving technology , though it's unclear if Sunday's accident will hurt the chances of a potential deal. In response to Sunday's fatal accident involving a self-driving Uber vehicle , Toyota confirmed to Business Insider that it will temporarily stop testing its Chauffeur autonomous driving program in the US. "We cannot speculate on the cause of the incident or what it may mean to the automated driving industry going forward," a company spokesperson said in an email to Business Insider. "Because Toyota Research Institute (TRI) feels the incident may have an emotional effect on its test drivers, TRI has decided to temporarily pause its own Chauffeur mode testing on public roads." Toyota had been testing the fully autonomous Chauffeur system in California and Michigan through the Toyota Research Institute, which the company founded in 2015 to create a car that is incapable of causing a crash . The company will not halt its testing in Japan. Toyota has taken a conservative approach to self-driving technology Unlike auto and tech competitors like Waymo, General Motors, and Ford, Toyota has taken a more conservative approach to testing autonomous vehicles. The automaker was rumored to be in talks to purchase Uber's self-driving technology , though it's unclear if Sunday's accident will hurt the chances of a potential deal. Toyota invested in Uber in 2016 , with plans to "explore collaboration" between the two companies. On Sunday evening, a self-driving Volvo XC90 operated by Uber hit and killed a 49-year-old woman, Elaine Herzberg, in Tempe, Arizona. Herzberg is believed to be the first pedestrian to be killed by a self-driving vehicle. Story continues At the time of the accident, the car was in autonomous mode, and operator Rafaela Vasquez was serving as a backup driver in the event that the vehicle's self-driving technology faltered. Early reports from local police indicate that Uber "would likely not be at fault" for the accident . Uber's fatal accident has raised safety concerns for autonomous vehicles But the accident has raised questions about the safety of self-driving vehicles . While supporters of the technology believe it will make cars much safer than those driven by humans, critics fear the mistakes autonomous vehicles will make along the way may produce more damage than optimistic companies would like to admit. After the accident, Uber said it would suspend autonomous-vehicle testing in Tempe, San Francisco, and Toronto. Autonomous driving startup NuTonomy also said it would pause its self-driving tests in Boston. " We are working with City of Boston officials to ensure that our automated vehicle pilots continue to adhere to high standards of safety," a NuTonomy spokesperson said in an email to Business Insider. "We have complied with the City of Boston's request to temporarily halt autonomous vehicle testing on public roads." The company had provided vehicles to Lyft, which began offering self-driving rides in Boston in December. NuTonomy was bought by auto supplier Delphi in October. NOW WATCH: Goldman Sachs investment chief: Bitcoin is definitely a bubble, Ethereum even more so See Also: Self-driving cars could face a 'huge setback' after the tragic death of a woman struck by an autonomous Uber A self-driving Uber struck and killed a woman — here's a look at how its autonomous cars work Airline pilot explains 21 code words passengers don't understand SEE ALSO: Self-driving cars could face a 'huge setback' after the tragic death of a woman struck by an autonomous Uber || Toyota will temporarily stop its self-driving-car tests after fatal autonomous Uber accident: Toyota
• In response to Sunday'sfatal accident involving a self-driving Uber vehicle,Toyotawill temporarily stop testing its Chauffeur autonomous-driving program in the US.
• Toyota had been testing the fully autonomous Chauffeur system in California and Michigan.
• The automaker was rumored to be in talks topurchase Uber's self-driving technology, though it's unclear if Sunday's accident will hurt the chances of a potential deal.
In response to Sunday'sfatal accident involving a self-driving Uber vehicle, Toyota confirmed to Business Insider that it will temporarily stop testing its Chauffeur autonomous driving program in the US.
"We cannot speculate on the cause of the incident or what it may mean to the automated driving industry going forward," a company spokesperson said in an email to Business Insider. "Because Toyota Research Institute (TRI) feels the incident may have an emotional effect on its test drivers, TRI has decided to temporarily pause its own Chauffeur mode testing on public roads."
Toyota had been testing the fully autonomous Chauffeur system in California and Michigan through the Toyota Research Institute, which the company founded in 2015 tocreate a car that is incapable of causing a crash. The company will not halt its testing in Japan.
Unlike auto and tech competitors like Waymo, General Motors, and Ford, Toyotahas taken a more conservative approachto testing autonomous vehicles. The automaker was rumored to be in talks topurchase Uber's self-driving technology, though it's unclear if Sunday's accident will hurt the chances of a potential deal.
Toyota invested in Uber in 2016, with plans to "explore collaboration" between the two companies.
On Sunday evening, a self-driving Volvo XC90 operated by Uber hit and killed a 49-year-old woman, Elaine Herzberg, in Tempe, Arizona. Herzberg is believed to be the first pedestrian to be killed by a self-driving vehicle.
At the time of the accident, the car was in autonomous mode, and operator Rafaela Vasquez was serving as a backup driver in the event that the vehicle's self-driving technology faltered. Early reports from local police indicate that Uber"would likely not be at fault" for the accident.
But the accident hasraised questions about the safety of self-driving vehicles. While supporters of the technology believe it will make cars much safer than those driven by humans, critics fear the mistakes autonomous vehicles will make along the way may produce more damage than optimistic companies would like to admit.
After the accident, Uber said it would suspend autonomous-vehicle testing in Tempe, San Francisco, and Toronto. Autonomous driving startup NuTonomy also said it would pause its self-driving tests in Boston.
"We are working with City of Boston officials to ensure that our automated vehicle pilots continue to adhere to high standards of safety," a NuTonomy spokesperson said in an email to Business Insider. "We have complied with the City of Boston's request to temporarily halt autonomous vehicle testing on public roads."
The company had provided vehicles to Lyft, whichbegan offering self-driving rides in Bostonin December. NuTonomy wasbought by auto supplier Delphiin October.
NOW WATCH:Goldman Sachs investment chief: Bitcoin is definitely a bubble, Ethereum even more so
See Also:
• Self-driving cars could face a 'huge setback' after the tragic death of a woman struck by an autonomous Uber
• A self-driving Uber struck and killed a woman — here's a look at how its autonomous cars work
• Airline pilot explains 21 code words passengers don't understand
SEE ALSO:Self-driving cars could face a 'huge setback' after the tragic death of a woman struck by an autonomous Uber || Blue Apron May Have Just Saved Its Business: Blue Apron (NYSE: APRN) was headed to the dustbin of relevancy as the value of its meal kit delivery business withered away, but the one-time industry leader may have just salvaged its survival. After fourth-quarter revenue tumbled 13% to $188 million and the number of customers it served fell 15% to just 746,000 -- down from over 1 million at its IPO -- Blue Apron announced it would be making its meal kits available in supermarkets, in addition to its delivery service. Blue Apron meal kit Image source: Blue Apron. Getting a seat at the table Most shoppers still prefer to go to the store to buy their groceries, and Blue Apron was at risk of seeing whatever market it had left sucked dry by supermarkets offering lower-cost meal kits of their own in the stores. Earlier this month, Walmart announced it would roll out to all its stores this year its own meal kits that would feature premeasured and prepped food ready to cook. It follows Kroger 's decision to expand the availability of its own meal kits in its grocery stores and Albertsons' acquisition of meal-kit delivery rival Plated. Worse, better-known brands were also getting into the meal kit business. In 2016, Martha Stewart launched her own meal kit partnership with Marley Spoon, which began delivering Martha & Marley Spoon in June 2016. Martha & Marley Spoon meal kits became available through Amazon Fresh in March 2017. Weight Watchers just announced that it, too, would be offering its own branded meal kits in stores. No doubt there are risks with Blue Apron's decision to move its meal kits into the grocery aisle. They will be just another commoditized product featured alongside a growing list of other meal kits (Blue Apron didn't reveal when or where it will start selling its kits in stores), and the premium it charged will likely shrink considerably. Yet the exclusivity of its previous business model was already fleeting and simply not sustainable. Operating losses tripled last year as it sought to expand and bring more customers in, but it ultimately gave up on those efforts as customer acquisition costs were simply too high. By making itself available in stores, it will be cheaper for Blue Apron to get new customers, or as CEO Brad Dickerson told The Wall Street Journal , "The access to consumers is much broader in this avenue than the avenue we've been operating in the past." Story continues Meals on wheels While Blue Apron's lack of a competitive moat was revealed by the marriage of Amazon and Whole Foods Market, which joined arguably the best delivery service with the premier name in groceries, the meal-kit delivery business itself has largely proven itself to be a niche market with a finite set of well-heeled customers. The delivery that Blue Apron offers is a nice touch, but it's a pricier option. Few customers want to spend $60 to $80 per week for three meals, and having meal kits in-store makes them available to a mass audience. Despite making its kits available in stores, Blue Apron is still not a good investment yet and a buyout probably remains its best hope for salvation. But by taking the mass consumer approach, it may have saved the company from the road to oblivion it was heading down. Editor's note: This article has been corrected to show that Martha & Marley Spoon meal kits are not stocked in stores. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Rich Duprey has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends AMZN. The Motley Fool has a disclosure policy .
[Social Media Buzz]
BTC Price: 8696.00$,
BTC Today High : 9106.27$,
BTC All Time High : 19903.44$
ETH Price: 537.75$ #bitcoin #BTC $BTC #ETH $ETH #cryptopic.twitter.com/DIRQWdPCcg || 2018/03/22 14:00
#BTC 962850.5円
#ETH 60803.6円
#ETC 2158.5円
#BCH 111986.7円
#XRP 73円
#XEM 31.3円
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#仮想通貨 #ビットコイン #Bitcoin #bitFlyer #Coincheck || ツイート数の多かった仮想通貨
1位 $BTC 602 Tweets
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4位 $XVG 178 Tweets
5位 $XRP 114 Tweets
2018-03-23 06:00 ～ 2018-03-23 06:59
COINTREND いまTwitterで話題の...
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8879.62, 8668.12, 8495.78, 8209.40, 7833.04, 7954.48, 7165.70, 6890.52, 6973.53, 6844.23
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Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 6707.26, 6884.64, 7096.28, 7047.16, 6978.23, 7037.58, 7193.25, 7272.72, 7260.06, 7361.66, 6792.83, 6529.17, 6467.07, 6225.98, 6300.86, 6329.70, 6321.20, 6351.80, 6517.31, 6512.71, 6543.20, 6517.18, 6281.20, 6371.30, 6398.54, 6519.67, 6734.95, 6721.98, 6710.63, 6595.41, 6446.47, 6495.00, 6676.75, 6644.13, 6601.96, 6625.56, 6589.62, 6556.10, 6502.59, 6576.69, 6622.48, 6588.31, 6602.95, 6652.23, 6642.64, 6585.53, 6256.24, 6274.58, 6285.99, 6290.93, 6596.54, 6596.11, 6544.43, 6476.71, 6465.41, 6489.19, 6482.35, 6487.16, 6475.74, 6495.84, 6476.29, 6474.75, 6480.38, 6486.39, 6332.63, 6334.27, 6317.61, 6377.78, 6388.44, 6361.26, 6376.13, 6419.66, 6461.01, 6530.14, 6453.72, 6385.62, 6409.22, 6411.27, 6371.27, 6359.49, 5738.35, 5648.03, 5575.55, 5554.33, 5623.54, 4871.49, 4451.87, 4602.17, 4365.94, 4347.11.
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[Bitcoin Technical Analysis for 2018-11-23]
Volume: 4871490000, RSI (14-day): 14.57, 50-day EMA: 5996.26, 200-day EMA: 6838.47
[Wider Market Context]
Gold Price: 1221.00, Gold RSI: 52.23
Oil Price: 50.42, Oil RSI: 17.22
[Recent News (last 7 days)]
Your Thanksgiving Turkeys Provenance Might Be on a Blockchain (Seriously): Your Thanksgiving Turkeys Provenance Might Be on a Blockchain (Seriously) Honeysuckle White is giving family and friends gathering for Thanksgiving dinner this year the opportunity to talk turkey with a traceable blockchain code on more than 200,000 turkeys sold through 3,500 retailers around the U.S. The traceable turkeys, a limited supply of which is also available through internet retailer Amazon, offer consumers a high-tech connection to the farm where the centerpiece of the meal began its journey to the table. The blockchain, which Honeysuckle White developed using Hyperledgers Sawtooth platform, is intended to establish a proven and trusted environment to build a transparent food chain, integrating farmers and producers, suppliers, processors, distributors, retailers, regulators and consumers, according to a company release . With more than 70 independent farms participating in Honeysuckles traceable turkey program, Cargill, the Minnesota-based agricultural giant owner of Honeysuckle, hopes to establish a stronger connection with consumers. While incorporating a blockchain element to the supply-and-distribution chain means the development of a data-rich environment, Cargills current emphasis in using the technology centers on storytelling. Putting turkeys on the blockchain marks a deeper dive into data development for companies utilizing the technology. Most people dont know what we mean by it, Deb Bauler, CIO of Cargills Protein and Salt Division, told Bitcoin Magazine . Rather than maintain a focus solely on data, utilization of the blockchain also opens an opportunity around a brands narrative. Through a text or entering the on-package code at the Honeysuckle White site, consumers trace their turkey to its specific family farm, including the state and county of the farms, and they can also view the history and see photos of the family farm. The code also includes messages from the farmers. Down the road, the Honeysuckle blockchain could include an Internet of Things element. This could include things such as the temperature of the truck transporting the turkeys to retail outlets. Story continues Its a unique value statement, Bauler said. Honeysuckle, based in Wichita, Kansas, began implementing its traceable turkey program last year with a pilot that included only four farms and 60,000 birds available for the holiday season. With the successful pilot, Honeysuckles expansion of the program addresses consumer demand for food source transparency. Kassie Long, Honeysuckle Whites brand manager, says the companys promotion of the product includes social media and other forms of advertising. Thanksgiving turkey buying typically begins on the first weekend in November. As the season progresses and Honeysuckle garners retailer and consumer feedback, the company gains the ability to perform a robust analysis of the program on a wider scale, Long says. Included here are things like taking note of the development and strengthening of brand loyalty through repeat customers. Still, transparency in food choice is an aspect of consumer demand familiar to Honeysuckle. According to a company release, a November 2017 survey reported 88 percent of consumers agree that brands need to be transparent in their food production. According to the same survey, 80 percent of consumers agree that at Thanksgiving, it is important for their turkey to be raised by a family farmer. For consumers, buying blockchain-tracked food seemingly provides a kind of psychological security around food safety issues. For Honeysuckle and other traceable food providers, the security triggers a stronger bottom line through increased sales. According to a reported 2015 study conducted with consumers in South Korea, traceable information translates to more sales and increased brand and product trust. The Food Safety Magazine story cites the studys co-author, Rajiv Kishore, as noting that when the customer believes regulatory authorities are ensuring accurate production information, he or she is more likely to buy food that is tracked using traceability information, and even less likely to actual use the food traceability information. The crux of the observation jives with the consumer research conducted by the Honeysuckle team. That is, consumers rising awareness around food safety weighs favorably in their buying decision. However, customers also added the caveat that they werent necessarily inclined to act on blockchain tracking, Long said. Darrell Fraser, one of the original pilot participants in the Honeysuckle White traceable turkey program, says the care involved in producing more than five flocks of turkeys each year remains the same. For him, adding the blockchain element to his yields has largely translated into pursuing a kind of vanity grocery shopping. The Texas-based farmer, who has raised turkey flocks for nearly 25 years, says he has yet to find a turkey in the grocery store with roots back to his farm. Ive looked and looked and still havent found one, he says. This article originally appeared on Bitcoin Magazine . || Your Thanksgiving Turkey’s Provenance Might Be on a Blockchain (Seriously): Honeysuckle White is giving family and friends gathering for Thanksgiving dinner this year the opportunity to talk turkey with a traceable blockchain code on more than 200,000 turkeys sold through 3,500 retailers around the U.S. The traceable turkeys, a limited supply of which is also available through internet retailer Amazon, offer consumers a high-tech connection to the farm where the centerpiece of the meal began its journey to the table.
The blockchain, which Honeysuckle White developed using Hyperledger’sSawtoothplatform, is intended to establish a “proven and trusted environment to build a transparent food chain, integrating farmers and producers, suppliers, processors, distributors, retailers, regulators and consumers,”according to a company release.
With more than 70 independent farms participating in Honeysuckle’s traceable turkey program, Cargill, the Minnesota-based agricultural giant owner of Honeysuckle, hopes to establish a stronger connection with consumers. While incorporating a blockchain element to the supply-and-distribution chain means the development of a data-rich environment, Cargill’s current emphasis in using the technology centers on storytelling.
Putting turkeys on the blockchain marks a deeper dive into data development for companies utilizing the technology. “Most people don’t know what we mean by it,” Deb Bauler, CIO of Cargill’s Protein and Salt Division, toldBitcoin Magazine. Rather than maintain a focus solely on data, utilization of the blockchain also opens an opportunity around a brand’s narrative.
Through a text or entering the on-package code at the Honeysuckle White site, consumers trace their turkey to its specific family farm, including the state and county of the farms, and they can also view the history and see photos of the family farm. The code also includes messages from the farmers.
Down the road, the Honeysuckle blockchain could include an Internet of Things element. This could include things such as the temperature of the truck transporting the turkeys to retail outlets.
“It’s a unique value statement,” Bauler said.
Honeysuckle, based in Wichita, Kansas, began implementing its traceable turkey program last year with a pilot that included only four farms and 60,000 birds available for the holiday season. With the successful pilot, Honeysuckle’s expansion of the program addresses consumer demand for food source transparency. Kassie Long, Honeysuckle White’s brand manager, says the company’s promotion of the product includes social media and other forms of advertising.
Thanksgiving turkey buying typically begins on the first weekend in November. As the season progresses and Honeysuckle garners retailer and consumer feedback, the company gains the ability to perform a “robust analysis” of the program on a wider scale, Long says. Included here are things like taking note of the development and strengthening of brand loyalty through repeat customers.
Still, transparency in food choice is an aspect of consumer demand familiar to Honeysuckle. According to a company release, a November 2017 survey reported 88 percent of consumers “agree that brands need to be transparent in their food production.” According to the same survey, 80 percent of consumers agree “that at Thanksgiving, it is important for their turkey to be raised by a family farmer.”
For consumers, buying blockchain-tracked food seemingly provides a kind of psychological security around food safety issues. For Honeysuckle and other traceable food providers, the security triggers a stronger bottom line through increased sales. According to areported 2015 studyconducted with consumers in South Korea, traceable information translates to more sales and increased brand and product trust.
TheFood Safety Magazinestory cites the study’s co-author, Rajiv Kishore, as noting that when “the customer believes regulatory authorities are ensuring accurate production information, he or she is more likely to buy food that is tracked using traceability information, and even less likely to actual use the food traceability information.”
The crux of the observation jives with the consumer research conducted by the Honeysuckle team. That is, consumers’ rising awareness around food safety weighs favorably in their buying decision. However, customers also added the caveat that they weren’t necessarily inclined to act on blockchain tracking, Long said.
Darrell Fraser, one of the original pilot participants in the Honeysuckle White traceable turkey program, says the care involved in producing more than five flocks of turkeys each year remains the same. For him, adding the blockchain element to his yields has largely translated into pursuing a kind of vanity grocery shopping. The Texas-based farmer, who has raised turkey flocks for nearly 25 years, says he has yet to find a turkey in the grocery store with roots back to his farm.
“I’ve looked and looked and still haven’t found one,” he says.
This article originally appeared onBitcoin Magazine. || What Year is it? Rebecca Black Parody Pumps Bitcoin Black Friday: rebecca black bitcoin black friday It may have been elicited reactions varying from mild amusement to death threats , but Rebecca Black’s “Friday” released in 2011 certainly got eyeballs — more than 127 million at last count. Whether it was outraged cultural commentators, 4chan jesters, or curious viewers, all views count, and a YouTuber called Finally Crypto is using the same strategy to promote crypto firm BitPay as a mainstream payment solution. Titled “BitPay – Black Friday Bitcoin Song,” the video is racking up a moderate amount of interest ahead of the annual post-Thanksgiving sale known as Black Friday . ‘Get With The Program!’ While the video adopts a decidedly slapstick method of passing across its message, its target audience is not in any doubt, with millennials clearly targeted throughout its three minutes, with several written messages like “Get with the program!” “Everyone’s adopting bitcoin,” “Fiat losers,” and “Don’t be a weirdo” appearing periodically. Interestingly, Finally Crypto is not affiliated with BitPay but created the video as part of an independent campaign to encourage bitcoin adoption ahead of Black Friday. While the video has not achieved anything close to Rebecca Black-levels of attention, it is certain to generate a reaction within the crypto space, with a stamp of approval from BitPay itself. Reacting to the video in the comment section through its official YouTube account, BitPay said: “Whoa! We love this, and we are beyond flattered. We’re so happy that you’ve had a chance to use the card to shop at more places that are a little behind on the tech adoption curve ;) We’d say you’ve topped Rebecca Black, and with any luck, Black Friday will be a win for everyone in this video. Look for an email from us! We’d love to get in touch and send you a gift to thank you.” Crypto Adoption among Younger Investors Grows A few days ago, CCN reported that investment bank Piper Jaffray published research showing that American teenagers are now beginning to prefer cryptocurrency and Fortnite V-bucks to gift cards and fiat currency on their Christmas wish lists. At a time when crypto markets are taking a beating, such data along with cultural anecdotes like Crypto Finally’s Friday parody provide much-needed perspective regarding the probable long-term prognosis of crypto. Story continues The positive conclusion is supported by a recent research report carried out by Deidre Campbell, Global Chair of Financial Services at Edelman. In the report, it was revealed that more than 55 percent of millennials have already invested or are planning to invest in cryptocurrencies. Featured Image from Rebecca Black/ YouTube The post What Year is it? Rebecca Black Parody Pumps Bitcoin Black Friday appeared first on CCN . || What Year is it? Rebecca Black Parody Pumps Bitcoin Black Friday: It may have been elicited reactions varying from mild amusement todeath threats, but Rebecca Black’s “Friday” released in 2011 certainly got eyeballs — more than 127 million at last count.
Whether it was outraged cultural commentators, 4chan jesters, or curious viewers, all views count, and a YouTuber calledFinally Cryptois using the same strategy to promote crypto firmBitPayas a mainstream payment solution. Titled “BitPay – Black Friday Bitcoin Song,” the video is racking up a moderate amount of interest ahead of the annual post-Thanksgiving sale known asBlack Friday.
While the video adopts a decidedly slapstick method of passing across its message, its target audience is not in any doubt, with millennials clearly targeted throughout its three minutes, with several written messages like “Get with the program!” “Everyone’s adopting bitcoin,” “Fiat losers,” and “Don’t be a weirdo” appearing periodically. Interestingly, Finally Crypto is not affiliated with BitPay but created the video as part of an independent campaign to encourage bitcoin adoption ahead of Black Friday.
While the video has not achieved anything close to Rebecca Black-levels of attention, it is certain to generate a reaction within the crypto space, with a stamp of approval from BitPay itself.
Reacting to the video in the comment section through its official YouTube account, BitPay said:
“Whoa! We love this, and we are beyond flattered. We’re so happy that you’ve had a chance to use the card to shop at more places that are a little behind on the tech adoption curve ;) We’d say you’ve topped Rebecca Black, and with any luck, Black Friday will be a win for everyone in this video. Look for an email from us! We’d love to get in touch and send you a gift to thank you.”
A few days ago, CCNreportedthat investment bank Piper Jaffray published research showing that American teenagers are now beginning to prefer cryptocurrency and Fortnite V-bucks to gift cards and fiat currency on their Christmas wish lists. At a time when crypto markets are taking a beating, such data along with cultural anecdotes like Crypto Finally’s Friday parody provide much-needed perspective regarding the probable long-term prognosis of crypto.
The positive conclusion is supported by a recent researchreportcarried out by Deidre Campbell, Global Chair of Financial Services at Edelman. In the report, it was revealed that more than 55 percent of millennials have already invested or are planning to invest in cryptocurrencies.
Featured Image from Rebecca Black/YouTube
The postWhat Year is it? Rebecca Black Parody Pumps Bitcoin Black Fridayappeared first onCCN. || What Year is it? Rebecca Black Parody Pumps Bitcoin Black Friday: It may have been elicited reactions varying from mild amusement todeath threats, but Rebecca Black’s “Friday” released in 2011 certainly got eyeballs — more than 127 million at last count.
Whether it was outraged cultural commentators, 4chan jesters, or curious viewers, all views count, and a YouTuber calledFinally Cryptois using the same strategy to promote crypto firmBitPayas a mainstream payment solution. Titled “BitPay – Black Friday Bitcoin Song,” the video is racking up a moderate amount of interest ahead of the annual post-Thanksgiving sale known asBlack Friday.
While the video adopts a decidedly slapstick method of passing across its message, its target audience is not in any doubt, with millennials clearly targeted throughout its three minutes, with several written messages like “Get with the program!” “Everyone’s adopting bitcoin,” “Fiat losers,” and “Don’t be a weirdo” appearing periodically. Interestingly, Finally Crypto is not affiliated with BitPay but created the video as part of an independent campaign to encourage bitcoin adoption ahead of Black Friday.
While the video has not achieved anything close to Rebecca Black-levels of attention, it is certain to generate a reaction within the crypto space, with a stamp of approval from BitPay itself.
Reacting to the video in the comment section through its official YouTube account, BitPay said:
“Whoa! We love this, and we are beyond flattered. We’re so happy that you’ve had a chance to use the card to shop at more places that are a little behind on the tech adoption curve ;) We’d say you’ve topped Rebecca Black, and with any luck, Black Friday will be a win for everyone in this video. Look for an email from us! We’d love to get in touch and send you a gift to thank you.”
A few days ago, CCNreportedthat investment bank Piper Jaffray published research showing that American teenagers are now beginning to prefer cryptocurrency and Fortnite V-bucks to gift cards and fiat currency on their Christmas wish lists. At a time when crypto markets are taking a beating, such data along with cultural anecdotes like Crypto Finally’s Friday parody provide much-needed perspective regarding the probable long-term prognosis of crypto.
The positive conclusion is supported by a recent researchreportcarried out by Deidre Campbell, Global Chair of Financial Services at Edelman. In the report, it was revealed that more than 55 percent of millennials have already invested or are planning to invest in cryptocurrencies.
Featured Image from Rebecca Black/YouTube
The postWhat Year is it? Rebecca Black Parody Pumps Bitcoin Black Fridayappeared first onCCN. || China: Crypto Miners Sell off Mining Devices ‘by Kilo’ Amidst Market Decline: Cryptocurrencymining operations inChinaare reportedly sellingminingmachines by weight, as opposed to price per unit. This selloff was reported by local Chinese crypto outlet8BTCWednesday, Nov. 21, with reference to the cryptocurrency mining pool F2Pool.
Cryptocurrency markets experiencedwidespread declinethroughout last week, with Bitcoin (BTC) declining to as low as$4,300per coin.
The decline has resulted in a similar drop in mining profitability and forced Chinese operators to sell their mining devices at a loss, according to 8BTC. The news outlet has reported that the miners are being sold “by kilo,” citing apostmade by the founder of F2Pool on the Weibo microblogging platform.
Crypto miners are reportedly especially eager to sell the older models, including Antminer S7, Antminer T9, and Avalon A741, as these have reached their “shutdown price.” According to local Chinese outletTencent News, the earnings fromminingare no longer enough to cover electric power and other associated costs.
The market slump has reportedly affected mostly small and medium-sized mining operations in the Chinese regions of Xinjiang and Inner Mongolia. There, 8BTC reports, some mining machines are being sold on the second-hand market for merely 5 percent of their original value. A mining machine bought at a price of up to 20,000 yuan ($2,885) a year ago is reportedly currently sold for just 1,000 yuan ($144).
Bitcoin’s price has kept falling, along with the rest of the crypto market, since the hard fork network upgrade of Bitcoin Cash (BCH) thattook placeNov. 15. The update has led cryptocurrency exchanges around the world tosuspendBCH trading and withdrawals.
Earlier this month, Bitcoin mining giantBitmainannouncedplans to reach out to local mining farms in the coal-rich province of Xinjiang, and deploy around 90,000 Antminer S9 devices in the region. Bitmain’s move is reported to be a strategic one in the computing “power war” associated with the BCH hard fork.
At press time, the crypto markets havecalmed down, with most of the top ten cryptocurrencies seeing only mild losses. BTC has today hovered between $4,450 and $4,630.
In September, the CEO of F2Poolpublishedan infographic that indicated that if Bitcoin price would reach lower than 36,792 Chinese yuan (about $5,376), mining the cryptocurrency with an Antminer T9 would become unprofitable. In the case of an S7 model miner, the break-even point amounted to a significantly higher Bitcoin price point of about 79,258 yuan (about $11,581).
• Crypto Trading Exec: Price Slump to Continue, With Bitcoin Bottoming Out at $3,000
• Bitcoin Hits Another Low, Bitcoin Cash Is Down Almost 50% on the Week
• Bitcoin Fundamentals ‘Still Intact’ Despite Price Lows, Says Blockchain Intelligence Group
• What Is Going On With the Crypto Markets, Analysts Unpack Factors Behind 10-Days Slump || China: Crypto Miners Sell off Mining Devices by Kilo Amidst Market Decline: Cryptocurrency mining operations in China are reportedly selling mining machines by weight, as opposed to price per unit. This selloff was reported by local Chinese crypto outlet 8BTC Wednesday, Nov. 21, with reference to the cryptocurrency mining pool F2Pool. Cryptocurrency markets experienced widespread decline throughout last week, with Bitcoin ( BTC ) declining to as low as $4,300 per coin. The decline has resulted in a similar drop in mining profitability and forced Chinese operators to sell their mining devices at a loss, according to 8BTC. The news outlet has reported that the miners are being sold by kilo, citing a post made by the founder of F2Pool on the Weibo microblogging platform. Crypto miners are reportedly especially eager to sell the older models, including Antminer S7, Antminer T9, and Avalon A741, as these have reached their shutdown price. According to local Chinese outlet Tencent News , the earnings from mining are no longer enough to cover electric power and other associated costs. The market slump has reportedly affected mostly small and medium-sized mining operations in the Chinese regions of Xinjiang and Inner Mongolia. There, 8BTC reports, some mining machines are being sold on the second-hand market for merely 5 percent of their original value. A mining machine bought at a price of up to 20,000 yuan ($2,885) a year ago is reportedly currently sold for just 1,000 yuan ($144). Bitcoins price has kept falling, along with the rest of the crypto market, since the hard fork network upgrade of Bitcoin Cash ( BCH ) that took place Nov. 15. The update has led cryptocurrency exchanges around the world to suspend BCH trading and withdrawals. Earlier this month, Bitcoin mining giant Bitmain announced plans to reach out to local mining farms in the coal-rich province of Xinjiang, and deploy around 90,000 Antminer S9 devices in the region. Bitmains move is reported to be a strategic one in the computing power war associated with the BCH hard fork. Story continues At press time, the crypto markets have calmed down , with most of the top ten cryptocurrencies seeing only mild losses. BTC has today hovered between $4,450 and $4,630. In September, the CEO of F2Pool published an infographic that indicated that if Bitcoin price would reach lower than 36,792 Chinese yuan (about $5,376), mining the cryptocurrency with an Antminer T9 would become unprofitable. In the case of an S7 model miner, the break-even point amounted to a significantly higher Bitcoin price point of about 79,258 yuan (about $11,581). Related Articles: Crypto Trading Exec: Price Slump to Continue, With Bitcoin Bottoming Out at $3,000 Bitcoin Hits Another Low, Bitcoin Cash Is Down Almost 50% on the Week Bitcoin Fundamentals Still Intact Despite Price Lows, Says Blockchain Intelligence Group What Is Going On With the Crypto Markets, Analysts Unpack Factors Behind 10-Days Slump || Wealthbuilding Guru Says Bitcoin Hodlers Have a ‘Problematic Mindset’: Bitcoin Ramit Sethi, author of the bestselling “ I Will Teach You to Be Rich ” has taken a swipe at crypto hodlers, suggesting that their investment strategy is fundamentally faulty because it is based on emotional identity instead of rational analysis. In his opinion, the reason many crypto investors insist on suffering through bad market periods is because to them, the act of investing in crypto assets is no longer the simple investment decision that it should be, but is rather a part of their identity, which makes them double down on losing positions instead of making the rational decision to exit the market. Crypto Investment and Politics – An Unlikely Parallel 2018 has been an extremely difficult year for crypto holders and short term investors looking for profits, with the bear market continuing to exert sustained downward pressure on asset prices despite optimistic predictions from a few analysts. According to Sethi, the tendency to double down on a particular decision in the face of evidence pointing otherwise is aptly demonstrated by a large number of cryptocurrency investors who have not actually made any money from investing in crypto assets and in fact have very little real hope of doing so, but doggedly insist on holding their losing investment positions. Specifically referencing a popular crypto market theory about ‘ buying the dip ‘ or investing in a market that does not look like recovering anytime soon, Sethi stated that this is a telltale sign of a situation where decision making has been divorced from rational investment practice, and is now purely emotional, based on crypto’s status as a part of the investor’s individual identity. Such behaviour, Sethi said, is analogous to the way many people often publicly double down on their support for a politician when bad behaviour on his or her part is exposed. Societal Messaging and Investment Decision Making Going further, Sethi stated that the development of emotional identities based on wrong or flawed information and thought patterns is a near-ubiquitous occurrence within human society, particularly on the subject of money and investment. Story continues Giving an example of how societal messaging can lead to irrational investment decisions, Sethi pictured the following scenario juxtaposing societal messaging with the rational decision should be: “MONEY MESSAGE: “The best way to save money is to cut spending.” SOLUTION: “There’s a limit to how much I can save, but there’s no limit to how much I can earn.” MONEY MESSAGE: “This cryptocurrency / stock is the hottest investment to get rich quick!” SOLUTION: “There’s no such thing as a get rich quick scheme. The only way to be rich is to scale up my earnings and invest for the long run.” “ In Sethi’s words, the presence of such powerful but silent messages in most people’s thinking paradigms makes it such that they live their entire lives abiding by ‘rules’ set for them by societal pressure, without even being aware of their existence. Over time he said, such adherence to unspoken societal rules can become dangerous by convincing people that they need to carry out certain behaviours because they must , and not because they should, or even necessarily want to. To solve this problem he said, crypto investors and other groups of people should carry out regular self-analysis so as to audit the messages that have come to form the core of their identity. In so doing he said, it would be possible to avoid getting caught in the trap of becoming a “crypto person,” comparable in rationality to being a Republican, Democrat or Libertarian, as against maintaining an independent identity. Summing up his thoughts on the matter he said: “I don’t mind identities. I have a few of my own: Personal finance guy, Gym rat, Hot sauce fan. But be extremely cautious about the messages you tell yourself, because once you internalize it, you’ll do anything to justify your choices.” Featured image from Shutterstock. The post Wealthbuilding Guru Says Bitcoin Hodlers Have a ‘Problematic Mindset’ appeared first on CCN . || Wealthbuilding Guru Says Bitcoin Hodlers Have a ‘Problematic Mindset’: Bitcoin Ramit Sethi, author of the bestselling “ I Will Teach You to Be Rich ” has taken a swipe at crypto hodlers, suggesting that their investment strategy is fundamentally faulty because it is based on emotional identity instead of rational analysis. In his opinion, the reason many crypto investors insist on suffering through bad market periods is because to them, the act of investing in crypto assets is no longer the simple investment decision that it should be, but is rather a part of their identity, which makes them double down on losing positions instead of making the rational decision to exit the market. Crypto Investment and Politics – An Unlikely Parallel 2018 has been an extremely difficult year for crypto holders and short term investors looking for profits, with the bear market continuing to exert sustained downward pressure on asset prices despite optimistic predictions from a few analysts. According to Sethi, the tendency to double down on a particular decision in the face of evidence pointing otherwise is aptly demonstrated by a large number of cryptocurrency investors who have not actually made any money from investing in crypto assets and in fact have very little real hope of doing so, but doggedly insist on holding their losing investment positions. Specifically referencing a popular crypto market theory about ‘ buying the dip ‘ or investing in a market that does not look like recovering anytime soon, Sethi stated that this is a telltale sign of a situation where decision making has been divorced from rational investment practice, and is now purely emotional, based on crypto’s status as a part of the investor’s individual identity. Such behaviour, Sethi said, is analogous to the way many people often publicly double down on their support for a politician when bad behaviour on his or her part is exposed. Societal Messaging and Investment Decision Making Going further, Sethi stated that the development of emotional identities based on wrong or flawed information and thought patterns is a near-ubiquitous occurrence within human society, particularly on the subject of money and investment. Story continues Giving an example of how societal messaging can lead to irrational investment decisions, Sethi pictured the following scenario juxtaposing societal messaging with the rational decision should be: “MONEY MESSAGE: “The best way to save money is to cut spending.” SOLUTION: “There’s a limit to how much I can save, but there’s no limit to how much I can earn.” MONEY MESSAGE: “This cryptocurrency / stock is the hottest investment to get rich quick!” SOLUTION: “There’s no such thing as a get rich quick scheme. The only way to be rich is to scale up my earnings and invest for the long run.” “ In Sethi’s words, the presence of such powerful but silent messages in most people’s thinking paradigms makes it such that they live their entire lives abiding by ‘rules’ set for them by societal pressure, without even being aware of their existence. Over time he said, such adherence to unspoken societal rules can become dangerous by convincing people that they need to carry out certain behaviours because they must , and not because they should, or even necessarily want to. To solve this problem he said, crypto investors and other groups of people should carry out regular self-analysis so as to audit the messages that have come to form the core of their identity. In so doing he said, it would be possible to avoid getting caught in the trap of becoming a “crypto person,” comparable in rationality to being a Republican, Democrat or Libertarian, as against maintaining an independent identity. Summing up his thoughts on the matter he said: “I don’t mind identities. I have a few of my own: Personal finance guy, Gym rat, Hot sauce fan. But be extremely cautious about the messages you tell yourself, because once you internalize it, you’ll do anything to justify your choices.” Featured image from Shutterstock. The post Wealthbuilding Guru Says Bitcoin Hodlers Have a ‘Problematic Mindset’ appeared first on CCN . || Wealthbuilding Guru Says Bitcoin Hodlers Have a ‘Problematic Mindset’: Bitcoin Ramit Sethi, author of the bestselling “ I Will Teach You to Be Rich ” has taken a swipe at crypto hodlers, suggesting that their investment strategy is fundamentally faulty because it is based on emotional identity instead of rational analysis. In his opinion, the reason many crypto investors insist on suffering through bad market periods is because to them, the act of investing in crypto assets is no longer the simple investment decision that it should be, but is rather a part of their identity, which makes them double down on losing positions instead of making the rational decision to exit the market. Crypto Investment and Politics – An Unlikely Parallel 2018 has been an extremely difficult year for crypto holders and short term investors looking for profits, with the bear market continuing to exert sustained downward pressure on asset prices despite optimistic predictions from a few analysts. According to Sethi, the tendency to double down on a particular decision in the face of evidence pointing otherwise is aptly demonstrated by a large number of cryptocurrency investors who have not actually made any money from investing in crypto assets and in fact have very little real hope of doing so, but doggedly insist on holding their losing investment positions. Specifically referencing a popular crypto market theory about ‘ buying the dip ‘ or investing in a market that does not look like recovering anytime soon, Sethi stated that this is a telltale sign of a situation where decision making has been divorced from rational investment practice, and is now purely emotional, based on crypto’s status as a part of the investor’s individual identity. Such behaviour, Sethi said, is analogous to the way many people often publicly double down on their support for a politician when bad behaviour on his or her part is exposed. Societal Messaging and Investment Decision Making Going further, Sethi stated that the development of emotional identities based on wrong or flawed information and thought patterns is a near-ubiquitous occurrence within human society, particularly on the subject of money and investment. Story continues Giving an example of how societal messaging can lead to irrational investment decisions, Sethi pictured the following scenario juxtaposing societal messaging with the rational decision should be: “MONEY MESSAGE: “The best way to save money is to cut spending.” SOLUTION: “There’s a limit to how much I can save, but there’s no limit to how much I can earn.” MONEY MESSAGE: “This cryptocurrency / stock is the hottest investment to get rich quick!” SOLUTION: “There’s no such thing as a get rich quick scheme. The only way to be rich is to scale up my earnings and invest for the long run.” “ In Sethi’s words, the presence of such powerful but silent messages in most people’s thinking paradigms makes it such that they live their entire lives abiding by ‘rules’ set for them by societal pressure, without even being aware of their existence. Over time he said, such adherence to unspoken societal rules can become dangerous by convincing people that they need to carry out certain behaviours because they must , and not because they should, or even necessarily want to. To solve this problem he said, crypto investors and other groups of people should carry out regular self-analysis so as to audit the messages that have come to form the core of their identity. In so doing he said, it would be possible to avoid getting caught in the trap of becoming a “crypto person,” comparable in rationality to being a Republican, Democrat or Libertarian, as against maintaining an independent identity. Summing up his thoughts on the matter he said: “I don’t mind identities. I have a few of my own: Personal finance guy, Gym rat, Hot sauce fan. But be extremely cautious about the messages you tell yourself, because once you internalize it, you’ll do anything to justify your choices.” Featured image from Shutterstock. The post Wealthbuilding Guru Says Bitcoin Hodlers Have a ‘Problematic Mindset’ appeared first on CCN . || Why Major Crypto Exchanges are Granting Bitcoin Cash With BCH Ticker: Bitcoin cash The hash power war between Bitcoin Cash (BCH) and Bitcoin Cash SV (BCHSV) ended with a one-sided victory for BCH. Prior to the hard fork on November 15, major cryptocurrency exchanges publicly expressed support towards the roadmap set forth by bitcoincash.org or ABC, the original Bitcoin Cash blockchain network. Fast forward eight days, a growing number of leading cryptocurrency trading platforms have begun to officially adopt ABC as the original Bitcoin Cash network with the ticker BCH. What Triggered Coinbase and Kraken to Support BCH? Earlier this week, Coinbase , one of the most widely utilized fiat-to-crypto exchanges in the global market, released an official statement declaring that ABC will retain the ticker BCH. The company stated that the higher hashrate and longer proof-of-work chain were amongst several other factors that led to the decision of Coinbase to provide the BCH ticker to the original Bitcoin Cash chain. The Coinbase team said : “Since the Bitcoin Cash fork on November 15, 2018, Coinbase has been closely monitoring the BCH network. We have observed consensus in the community that the BCH ABC chain will retain the designation of Bitcoin Cash (BCH). Coinbase will also adopt this designation for BCH. Coinbase has made this decision based on a number of factors including the fact that ABC has a higher hashrate and a longer proof-of-work chain.” In the weeks to come, Coinbase users will be able to withdraw BCHSV that was credited to BCH holders prior to the fork, but the firm did not express any intent to list BCHSV nor allow investors to trade the newly created asset. “Our current intention is to support withdrawal services for the BCH SV chain so that our customers may withdraw funds at a future date. We anticipate this development work will take at least a few weeks, but may take longer” the team added. Jesse Powell, the CEO of Kraken, another major cryptocurrency exchange based in the U.S., recently criticized the operation of the Bitcoin Cash SV camp led by Calvin Ayre, Craig Steven Wright, and Coingeek, who have threatened developers and miners throughout the past several weeks. Story continues On November 21, BCHSV experienced a reorganization of two blocks and Coingeek is suspected to be behind the initiative. As Cornell professor Emin Gun Sirer explained , the self-reorganization of blocks demonstrated a lack of hash power, decentralization, and well-designed system on BCHSV. Powell noted : “Never had anything against Calvin Ayre but this approach is anathema to the community you hope to have adopt your technology. The merits of BSV are overshadowed by the alienating threats of a few grandiose personalities. Longer chain != adoption. Victory may be pyrrhic.” Personalities Behind SV are Hurting the Chain Even in the aftermath of the hash power war, representatives of the Bitcoin Cash SV camp are continuing to push threats against the Bitcoin Cash community. On November 23, Calvin Ayre, a billionaire casino mogul behind SV, encouraged investors of Kraken to stay away from the exchange for “manipulating” the crypto market by providing Bitcoin Cash with the BCH ticker. Continuous threats from the SV camp could lead to more exchanges acknowledging the original Bitcoin Cash chain as BCH, which could have a negative impact on the long-term growth trend of the asset. Featured image from Shutterstock. The post Why Major Crypto Exchanges are Granting Bitcoin Cash With BCH Ticker appeared first on CCN . || Why Major Crypto Exchanges are Granting Bitcoin Cash With BCH Ticker: Bitcoin cash The hash power war between Bitcoin Cash (BCH) and Bitcoin Cash SV (BCHSV) ended with a one-sided victory for BCH. Prior to the hard fork on November 15, major cryptocurrency exchanges publicly expressed support towards the roadmap set forth by bitcoincash.org or ABC, the original Bitcoin Cash blockchain network. Fast forward eight days, a growing number of leading cryptocurrency trading platforms have begun to officially adopt ABC as the original Bitcoin Cash network with the ticker BCH. What Triggered Coinbase and Kraken to Support BCH? Earlier this week, Coinbase , one of the most widely utilized fiat-to-crypto exchanges in the global market, released an official statement declaring that ABC will retain the ticker BCH. The company stated that the higher hashrate and longer proof-of-work chain were amongst several other factors that led to the decision of Coinbase to provide the BCH ticker to the original Bitcoin Cash chain. The Coinbase team said : “Since the Bitcoin Cash fork on November 15, 2018, Coinbase has been closely monitoring the BCH network. We have observed consensus in the community that the BCH ABC chain will retain the designation of Bitcoin Cash (BCH). Coinbase will also adopt this designation for BCH. Coinbase has made this decision based on a number of factors including the fact that ABC has a higher hashrate and a longer proof-of-work chain.” In the weeks to come, Coinbase users will be able to withdraw BCHSV that was credited to BCH holders prior to the fork, but the firm did not express any intent to list BCHSV nor allow investors to trade the newly created asset. “Our current intention is to support withdrawal services for the BCH SV chain so that our customers may withdraw funds at a future date. We anticipate this development work will take at least a few weeks, but may take longer” the team added. Jesse Powell, the CEO of Kraken, another major cryptocurrency exchange based in the U.S., recently criticized the operation of the Bitcoin Cash SV camp led by Calvin Ayre, Craig Steven Wright, and Coingeek, who have threatened developers and miners throughout the past several weeks. Story continues On November 21, BCHSV experienced a reorganization of two blocks and Coingeek is suspected to be behind the initiative. As Cornell professor Emin Gun Sirer explained , the self-reorganization of blocks demonstrated a lack of hash power, decentralization, and well-designed system on BCHSV. Powell noted : “Never had anything against Calvin Ayre but this approach is anathema to the community you hope to have adopt your technology. The merits of BSV are overshadowed by the alienating threats of a few grandiose personalities. Longer chain != adoption. Victory may be pyrrhic.” Personalities Behind SV are Hurting the Chain Even in the aftermath of the hash power war, representatives of the Bitcoin Cash SV camp are continuing to push threats against the Bitcoin Cash community. On November 23, Calvin Ayre, a billionaire casino mogul behind SV, encouraged investors of Kraken to stay away from the exchange for “manipulating” the crypto market by providing Bitcoin Cash with the BCH ticker. Continuous threats from the SV camp could lead to more exchanges acknowledging the original Bitcoin Cash chain as BCH, which could have a negative impact on the long-term growth trend of the asset. Featured image from Shutterstock. The post Why Major Crypto Exchanges are Granting Bitcoin Cash With BCH Ticker appeared first on CCN . || Why Major Crypto Exchanges are Granting Bitcoin Cash With BCH Ticker: Bitcoin cash The hash power war between Bitcoin Cash (BCH) and Bitcoin Cash SV (BCHSV) ended with a one-sided victory for BCH. Prior to the hard fork on November 15, major cryptocurrency exchanges publicly expressed support towards the roadmap set forth by bitcoincash.org or ABC, the original Bitcoin Cash blockchain network. Fast forward eight days, a growing number of leading cryptocurrency trading platforms have begun to officially adopt ABC as the original Bitcoin Cash network with the ticker BCH. What Triggered Coinbase and Kraken to Support BCH? Earlier this week, Coinbase , one of the most widely utilized fiat-to-crypto exchanges in the global market, released an official statement declaring that ABC will retain the ticker BCH. The company stated that the higher hashrate and longer proof-of-work chain were amongst several other factors that led to the decision of Coinbase to provide the BCH ticker to the original Bitcoin Cash chain. The Coinbase team said : “Since the Bitcoin Cash fork on November 15, 2018, Coinbase has been closely monitoring the BCH network. We have observed consensus in the community that the BCH ABC chain will retain the designation of Bitcoin Cash (BCH). Coinbase will also adopt this designation for BCH. Coinbase has made this decision based on a number of factors including the fact that ABC has a higher hashrate and a longer proof-of-work chain.” In the weeks to come, Coinbase users will be able to withdraw BCHSV that was credited to BCH holders prior to the fork, but the firm did not express any intent to list BCHSV nor allow investors to trade the newly created asset. “Our current intention is to support withdrawal services for the BCH SV chain so that our customers may withdraw funds at a future date. We anticipate this development work will take at least a few weeks, but may take longer” the team added. Jesse Powell, the CEO of Kraken, another major cryptocurrency exchange based in the U.S., recently criticized the operation of the Bitcoin Cash SV camp led by Calvin Ayre, Craig Steven Wright, and Coingeek, who have threatened developers and miners throughout the past several weeks. Story continues On November 21, BCHSV experienced a reorganization of two blocks and Coingeek is suspected to be behind the initiative. As Cornell professor Emin Gun Sirer explained , the self-reorganization of blocks demonstrated a lack of hash power, decentralization, and well-designed system on BCHSV. Powell noted : “Never had anything against Calvin Ayre but this approach is anathema to the community you hope to have adopt your technology. The merits of BSV are overshadowed by the alienating threats of a few grandiose personalities. Longer chain != adoption. Victory may be pyrrhic.” Personalities Behind SV are Hurting the Chain Even in the aftermath of the hash power war, representatives of the Bitcoin Cash SV camp are continuing to push threats against the Bitcoin Cash community. On November 23, Calvin Ayre, a billionaire casino mogul behind SV, encouraged investors of Kraken to stay away from the exchange for “manipulating” the crypto market by providing Bitcoin Cash with the BCH ticker. Continuous threats from the SV camp could lead to more exchanges acknowledging the original Bitcoin Cash chain as BCH, which could have a negative impact on the long-term growth trend of the asset. Featured image from Shutterstock. The post Why Major Crypto Exchanges are Granting Bitcoin Cash With BCH Ticker appeared first on CCN . || What Is Going On With the Crypto Markets, Analysts Unpack Factors Behind 10-Days Slump: Over the last 10 days thecryptocurrencymarkets have endured amassive sell-offacross the board.
There are a number of reasons that have led to the highly bearish sentiments on the market but seeing red has been difficult for many. As the value ofBitcoin and numerous altcoinshavecontinued to declineto depressing levels, and a certain amount of panic has ensued.
Cointelegraph has reached out to various industry professionals to explore the reasons behind this most recent slump in the market and what to possibly expect in the coming weeks and months.
To understand why the markets have plunged into the red, one must explore the varying socioeconomic factors that have had a negative effect with investor sentiment on traditional and cryptocurrency markets.
Renowned Wall Street investor,Tom Lee, provides an astute analysis of the current crypto climate.
Firstly, Lee points to the recentBitcoin Cashforkhas been a major talking point over the past few weeks and the build up to thehash rate warcaused serious uncertainty in the market. Last week Coinshares CSO, Meltem Demirors, said this hasled to institutional investorstaking money out to avoid the risk and uncertainty around the hard fork.
Thecontentioussplit in the Bitcoin Cash blockchain occurred on November 15, resulting in two competing chains Bitcoin ABC and Bitcoin SV. As a result, the value of BCH has suffered just asmuch as the rest.
In addition to this, Lee believes thatregulatorypressureshave played a role in the bearish atmosphere, highlighting theSEC’s decision to institutethe first ever levies against a couple Initial Coin Offerings (ICO) that were deemed to have actually been securities offerings. Another contributor to negative sentiments are reports offresh investigationsinto the affairs of controversial stablecoinTether(USDT).
Global pressureshave also taken their toll and Lee points to trade tensions, central banks tightening up policies, as well asBrexitcontributing to declining market liquidity.
The outlook for traditional markets have been just as bleak, withanalysts forecastinga looming “flash crash” in the wake of a sell off in the cryptocurrency and oil markets. Lee summed this up as a sign of the times:
“Markets around the world are fragile and panic and sentiment are playing a disproportionate role right now. Does this mean Bitcoin is broken? No. The use case is still there but in the short term, panics are panics.”
eToro senior market analyst,Mati Greenspan, echoed these sentiments, highlighting the downtrend in variousglobal stock marketsin his daily market updates over the past few days.
NASDAQ Composite 5-days chart. Source: Yahoo Finance
S&P 500 5-days chart. Source: Yahoo Finance
Dow Jones Industrial Average 5-days chart. Source: Yahoo Finance
Combined with a recent breakout and central banks tightening their belts, the markets have seen a swathe of red. As the Wall Street Journalreported midweek, governments may need to stimulate their own economies as central banks tighten their belts.
Economic tensionshave also affected global trade and higher interest rates aren’t helping the situation,accordingto the Organization for Economic Cooperation and Development.
As Greenspan explained, all of these factors have contributed to the stresses across multiple markets.
“There are a lot of side stories at the moment but I feel the major driving factors are the technical breakout that we saw last week and the global macroeconomic cycle that is currently hitting the stock market. In 2017 we saw abundance across all markets due to central bank loose money policy. Now that the central banks are raising rates again, money may become scarce and people are taking a lot of their investments off the table.”
While the Bitcoin Cash fork has been identified as a major factor in this most recent downturn, others have pointed to the fact that the crypto markets have showed signs of a serious decline in recent weeks.
As previouslyreported by Cointelegraph, analysts noted that Bitcoin was struggling to move into an uptrend support. The preeminent cryptocurrency was unable to move past the lower $6,000 regions. Trade volumes and activity were low and uncertainty grew, leading to the aggressive selloff.
Gabor Gurbacs, digital asset strategist and director at VanEck,told Cointelegraphthat traditional markets had endured corrections as businesses looked to consolidate before the end of the year.
“During the past month, however, Bitcoin and digital assets were fairly stable while the equity and bond markets have gone through a significant correction. The recent turbulence is due to the combination of some systematic end of the year selling (that is businesses are closing their books) and some mess around the Bitcoin Cash fork.”
In line with this analysis,Anthony Pompliano, host of popular crypto podcast and newsletter “Off The Chain,” has been addressing the current market woes over the past fews days. Responding to Cointelegraph, Pompliano highlighted three driving factors for the recent downturn:
“Technicals showing more downward movement, historical analysis shows we need to go further, and psychological argument is there is not enough blood in the streets. Add in the selling pressure from funds and ICOs, you get a perfect storm for further market contraction.”
Simply put, the low trade volumes and high uncertainty caused a sell-off that led to further panic selling. Summing this up succinctly, respected blockchain entrepreneur and industry advisor,Vinny Lingham, offered Cointelegraph a collected analysis of the current climate:
“It's a usual downtrend in the bear market that has characterized much of 2018. The recent Bitcoin Cash contentious fork, combined with regulatory uncertainty regarding ICOs with recent SEC decisions against some token sales, added to the overall negative sentiment.”
Price predictions are notoriously difficult to make in the cryptocurrency sphere but analysts are able to glean a lot from price movements and charts.
According to Greenspan, it is not easy to make any assumptions of what the markets will do in the next six weeks and he believes things could go either way:
“It's impossible to say for sure. Now that Bitcoin has broken the key psychological level of $5,000 the next logical level of support we can spot on the graph isn't until $3,000. It doesn't necessarily have to get there though. If it turns around now it would be a very bullish sign indeed.
“I feel like the last of the panic sellers are now showing their hands. There are many cryptotraders who are happy to go on hodling even if we do see lower prices. As well, the incoming large financial institutions are most likely accumulating already at these prices.”
Pompliano offered a more philosophical outlook in his latestnewsletter, highlighting the fundamental aspects of Bitcoin as a saving grace that cannot be controlled or enforced by any single entity:
“It is important to remember that Bitcoin is not a traditional asset. There is no monetary policy decision that will be the catalyst for a recovery. The government can’t deem it too big to fail. There is no one who can step in and halt trading. Bitcoin lives and dies on its own.
“While that may be scary to traditional market investors, this is the attraction to true crypto believers. They understand the asset will have volatile swings on a frequent basis. They know that there are few synthetic protections in place for investors. Bitcoin is the ultimate test: How much conviction do you truly have?”
Even at current levels, Lee has produced a fairly optimistic outlook for the cryptocurrency markets before the end of the year. Lee reiterated his$15,000 Bitcoin price predictionearlier this week, even amid deepening lows. Lee believes further regulatory clarity will also ease uncertainty, which has gripped the space for most of 2018.
The Fundstrat co-founder believes that institutional investors will be the driving force behind a market resurgence. This will be led by the predictedlaunch of Bakktin January 2019, a digital assets platform created by The Intercontinental Exchange (ICE), the operator of leading global exchanges, including the New York Stock Exchange (NYSE).
The bearish climate led to Lingham producing a far more conservative outlook leading into December and the new year. He said it was hard to see Bitcoin breaking past $6,000 in 2018 – and stressed the need for blockchain projects to create widely usable solutions:
“The market needs to find and prove more use cases, companies that are building on top of blockchain need to prove real utility. The industry needs to start to show technology adoption beyond pilots in 2019 and create value add. The market has had too many pipe dreams and Lambos in the past 2 years. The climate can change once more companies with solid use cases emerge from their development cycles, gain traction and prove sound business value to make a difference. Ones who won't hit these milestones will continue to be wiped out.”
As of November 22, the crypto marketslook to have stoppedtheir drastic slide, with cryptocurrencies’ prices still being shaky, but seeing onlymild losses.
Source: Coin360.io
• Bitcoin Hits Another Low, Bitcoin Cash Is Down Almost 50% on the Week
• After Yesterday’s Bloodbath, Losses Continue for Major Cryptos, XRP Overtakes Ethereum
• Markets See Massive Sell-Off, Bitcoin Dips Below $5,600 for the First Time in 2018
• Crypto Markets See Mixed Signals After Recent Downturn || What Is Going On With the Crypto Markets, Analysts Unpack Factors Behind 10-Days Slump: Over the last 10 days the cryptocurrency markets have endured a massive sell-off across the board. There are a number of reasons that have led to the highly bearish sentiments on the market but seeing red has been difficult for many. As the value of Bitcoin and numerous altcoins have continued to decline to depressing levels, and a certain amount of panic has ensued. Total Market Capitalization Cointelegraph has reached out to various industry professionals to explore the reasons behind this most recent slump in the market and what to possibly expect in the coming weeks and months. Main factors to consider To understand why the markets have plunged into the red, one must explore the varying socioeconomic factors that have had a negative effect with investor sentiment on traditional and cryptocurrency markets. Renowned Wall Street investor, Tom Lee , provides an astute analysis of the current crypto climate. Firstly, Lee points to the recent Bitcoin Cash fork has been a major talking point over the past few weeks and the build up to the hash rate war caused serious uncertainty in the market. Last week Coinshares CSO, Meltem Demirors, said this has led to institutional investors taking money out to avoid the risk and uncertainty around the hard fork. The contentious split in the Bitcoin Cash blockchain occurred on November 15, resulting in two competing chains Bitcoin ABC and Bitcoin SV. As a result, the value of BCH has suffered just as much as the rest . In addition to this, Lee believes that regulatory pressures have played a role in the bearish atmosphere, highlighting the SEC’s decision to institute the first ever levies against a couple Initial Coin Offerings ( ICO ) that were deemed to have actually been securities offerings. Another contributor to negative sentiments are reports of fresh investigations into the affairs of controversial stablecoin Tether (USDT). Global pressures have also taken their toll and Lee points to trade tensions, central banks tightening up policies, as well as Brexit contributing to declining market liquidity. Story continues “Does this mean Bitcoin is broken? No” The outlook for traditional markets have been just as bleak, with analysts forecasting a looming “flash crash” in the wake of a sell off in the cryptocurrency and oil markets. Lee summed this up as a sign of the times: “Markets around the world are fragile and panic and sentiment are playing a disproportionate role right now. Does this mean Bitcoin is broken? No. The use case is still there but in the short term, panics are panics.” eToro senior market analyst, Mati Greenspan , echoed these sentiments, highlighting the downtrend in various global stock markets in his daily market updates over the past few days. NASDAQ Composite 5-days chart NASDAQ Composite 5-days chart. Source: Yahoo Finance S&P 500 5-days chart S&P 500 5-days chart. Source: Yahoo Finance Dow Jones Industrial Average 5-days chart Dow Jones Industrial Average 5-days chart. Source: Yahoo Finance Combined with a recent breakout and central banks tightening their belts, the markets have seen a swathe of red. As the Wall Street Journal reported midweek , governments may need to stimulate their own economies as central banks tighten their belts. Economic tensions have also affected global trade and higher interest rates aren’t helping the situation, according to the Organization for Economic Cooperation and Development. As Greenspan explained, all of these factors have contributed to the stresses across multiple markets. “There are a lot of side stories at the moment but I feel the major driving factors are the technical breakout that we saw last week and the global macroeconomic cycle that is currently hitting the stock market. In 2017 we saw abundance across all markets due to central bank loose money policy. Now that the central banks are raising rates again, money may become scarce and people are taking a lot of their investments off the table.” Low trade volumes and high uncertainty While the Bitcoin Cash fork has been identified as a major factor in this most recent downturn, others have pointed to the fact that the crypto markets have showed signs of a serious decline in recent weeks. As previously reported by Cointelegraph , analysts noted that Bitcoin was struggling to move into an uptrend support. The preeminent cryptocurrency was unable to move past the lower $6,000 regions. Trade volumes and activity were low and uncertainty grew, leading to the aggressive selloff. Gabor Gurbacs, digital asset strategist and director at VanEck, told Cointelegraph that traditional markets had endured corrections as businesses looked to consolidate before the end of the year. “During the past month, however, Bitcoin and digital assets were fairly stable while the equity and bond markets have gone through a significant correction. The recent turbulence is due to the combination of some systematic end of the year selling (that is businesses are closing their books) and some mess around the Bitcoin Cash fork.” In line with this analysis, Anthony Pompliano , host of popular crypto podcast and newsletter “Off The Chain,” has been addressing the current market woes over the past fews days. Responding to Cointelegraph, Pompliano highlighted three driving factors for the recent downturn: “Technicals showing more downward movement, historical analysis shows we need to go further, and psychological argument is there is not enough blood in the streets. Add in the selling pressure from funds and ICOs, you get a perfect storm for further market contraction.” Simply put, the low trade volumes and high uncertainty caused a sell-off that led to further panic selling. Summing this up succinctly, respected blockchain entrepreneur and industry advisor, Vinny Lingham , offered Cointelegraph a collected analysis of the current climate: “It's a usual downtrend in the bear market that has characterized much of 2018. The recent Bitcoin Cash contentious fork, combined with regulatory uncertainty regarding ICOs with recent SEC decisions against some token sales, added to the overall negative sentiment.” A short term outlook Price predictions are notoriously difficult to make in the cryptocurrency sphere but analysts are able to glean a lot from price movements and charts. According to Greenspan, it is not easy to make any assumptions of what the markets will do in the next six weeks and he believes things could go either way: “It's impossible to say for sure. Now that Bitcoin has broken the key psychological level of $5,000 the next logical level of support we can spot on the graph isn't until $3,000. It doesn't necessarily have to get there though. If it turns around now it would be a very bullish sign indeed. “I feel like the last of the panic sellers are now showing their hands. There are many cryptotraders who are happy to go on hodling even if we do see lower prices. As well, the incoming large financial institutions are most likely accumulating already at these prices.” Pompliano offered a more philosophical outlook in his latest newsletter , highlighting the fundamental aspects of Bitcoin as a saving grace that cannot be controlled or enforced by any single entity: “It is important to remember that Bitcoin is not a traditional asset. There is no monetary policy decision that will be the catalyst for a recovery. The government can’t deem it too big to fail. There is no one who can step in and halt trading. Bitcoin lives and dies on its own. “While that may be scary to traditional market investors, this is the attraction to true crypto believers. They understand the asset will have volatile swings on a frequent basis. They know that there are few synthetic protections in place for investors. Bitcoin is the ultimate test: How much conviction do you truly have?” Even at current levels, Lee has produced a fairly optimistic outlook for the cryptocurrency markets before the end of the year. Lee reiterated his $15,000 Bitcoin price prediction earlier this week, even amid deepening lows. Lee believes further regulatory clarity will also ease uncertainty, which has gripped the space for most of 2018. The Fundstrat co-founder believes that institutional investors will be the driving force behind a market resurgence. This will be led by the predicted launch of Bakkt in January 2019, a digital assets platform created by The Intercontinental Exchange (ICE), the operator of leading global exchanges, including the New York Stock Exchange ( NYSE ). The bearish climate led to Lingham producing a far more conservative outlook leading into December and the new year. He said it was hard to see Bitcoin breaking past $6,000 in 2018 – and stressed the need for blockchain projects to create widely usable solutions: “The market needs to find and prove more use cases, companies that are building on top of blockchain need to prove real utility. The industry needs to start to show technology adoption beyond pilots in 2019 and create value add. The market has had too many pipe dreams and Lambos in the past 2 years. The climate can change once more companies with solid use cases emerge from their development cycles, gain traction and prove sound business value to make a difference. Ones who won't hit these milestones will continue to be wiped out.” As of November 22, the crypto markets look to have stopped their drastic slide, with cryptocurrencies’ prices still being shaky, but seeing only mild losses . Coin360 Source: Coin360.io Related Articles: Bitcoin Hits Another Low, Bitcoin Cash Is Down Almost 50% on the Week After Yesterday’s Bloodbath, Losses Continue for Major Cryptos, XRP Overtakes Ethereum Markets See Massive Sell-Off, Bitcoin Dips Below $5,600 for the First Time in 2018 Crypto Markets See Mixed Signals After Recent Downturn || Here’s How You Can Get Amazon to Kick Some Cash to a Bitcoin Charity: Here’s How You Can Get Amazon to Kick Some Cash to a Bitcoin Charity Are you planning to do some shopping on Amazon this holiday season? If so, you can also support BitGive , the first registered 501(c)(3) nonprofit charity that uses the power of bitcoin to support some great philanthropic projects around the world. This year, BitGive is celebrating its fifth anniversary of charitable work in the Bitcoin space. And while shoppers can support its philanthropic efforts year round through the AmazonSmile program, now is the time of year when you might be spending a bit more time (and money) on the Amazon website. AmazonSmile is a subdomain on Amazon that allows shoppers to donate to their charity of choice when they shop with Amazon. You can passively donate to BitGive by signing up on smile.amazon.com and selecting "BitGive" as your charity of choice. Then, you can proceed to shop as you usually would. Amazon will donate 0.5 percent of the total price of your purchases to BitGive at no cost to you. "We love the Amazon Smile program! It is an easy way for our supporters to contribute to our mission while also shopping for their holiday gifts and everyday needs," Connie Gallippi, founder and executive director of BitGive, said to Bitcoin Magazine . In October 2018, Amazon announced it had donated $100 million to charities through its AmazonSmile program. “Hundreds of thousands of charities have been able to expand their meaningful work thanks to the donations they’ve received through AmazonSmile, and we want to say thank you to customers who are supporting important causes every time they shop,” said Jeff Wilke, Amazon Worldwide Consumer CEO. The BitGive foundation also accepts donations through their website to support their work with specific charities. Some of the past projects that BitGive has successfully funded and supported in the past include the Maternal & Neonatal India Program , the Chandolo Primary School Water Project and the Shisango Girls School . BitGive has also developed GiveTrack , a blockchain-based platform designed to make charitable organizations more transparent and increase donor confidence. “GiveTrack has been our main project for the past few years,” said Gallippi. “We have a live MVP now where you can see some of our early pilot projects, and there is some general information about the goals of the platform as well. We have an anticipated launch for GiveTrack 1.0 in early December.” This article originally appeared on Bitcoin Magazine . View comments || Here’s How You Can Get Amazon to Kick Some Cash to a Bitcoin Charity: Are you planning to do some shopping on Amazon this holiday season? If so, you can also supportBitGive, the first registered 501(c)(3) nonprofit charity that uses the power of bitcoin to support some great philanthropic projects around the world.
This year, BitGive is celebrating its fifth anniversary of charitable work in the Bitcoin space. And while shoppers can support its philanthropic efforts year round through theAmazonSmileprogram, now is the time of year when you might be spending a bit more time (and money) on the Amazon website.
AmazonSmile is a subdomain on Amazon that allows shoppers to donate to their charity of choice when they shop with Amazon. You can passively donate toBitGiveby signing up on smile.amazon.com and selecting "BitGive" as your charity of choice. Then, you can proceed to shop as you usually would.
Amazon will donate 0.5 percent of the total price of your purchases to BitGive at no cost to you.
"We love the Amazon Smile program! It is an easy way for our supporters to contribute to our mission while also shopping for their holiday gifts and everyday needs," Connie Gallippi, founder and executive director of BitGive, said toBitcoin Magazine.
In October 2018, Amazonannounced it haddonated $100 million to charities through its AmazonSmile program.
“Hundreds of thousands of charities have been able to expand their meaningful work thanks to the donations they’ve received through AmazonSmile, and we want to say thank you to customers who are supporting important causes every time they shop,” said Jeff Wilke, Amazon Worldwide Consumer CEO.
The BitGive foundation also accepts donations through their website to support their work with specific charities. Some of the past projects that BitGive has successfully funded and supported in the past include theMaternal & Neonatal India Program, theChandolo Primary School Water Projectand theShisango Girls School.
BitGive has also developedGiveTrack, a blockchain-based platform designed to make charitable organizations more transparent and increase donor confidence.
“GiveTrack has been our main project for the past few years,” said Gallippi. “We have alive MVPnow where you can see some of our early pilot projects, and there is somegeneral informationabout the goals of the platform as well. We have an anticipated launch for GiveTrack 1.0 in early December.”
This article originally appeared onBitcoin Magazine. || Here’s How You Can Get Amazon to Kick Some Cash to a Bitcoin Charity: Are you planning to do some shopping on Amazon this holiday season? If so, you can also supportBitGive, the first registered 501(c)(3) nonprofit charity that uses the power of bitcoin to support some great philanthropic projects around the world.
This year, BitGive is celebrating its fifth anniversary of charitable work in the Bitcoin space. And while shoppers can support its philanthropic efforts year round through theAmazonSmileprogram, now is the time of year when you might be spending a bit more time (and money) on the Amazon website.
AmazonSmile is a subdomain on Amazon that allows shoppers to donate to their charity of choice when they shop with Amazon. You can passively donate toBitGiveby signing up on smile.amazon.com and selecting "BitGive" as your charity of choice. Then, you can proceed to shop as you usually would.
Amazon will donate 0.5 percent of the total price of your purchases to BitGive at no cost to you.
"We love the Amazon Smile program! It is an easy way for our supporters to contribute to our mission while also shopping for their holiday gifts and everyday needs," Connie Gallippi, founder and executive director of BitGive, said toBitcoin Magazine.
In October 2018, Amazonannounced it haddonated $100 million to charities through its AmazonSmile program.
“Hundreds of thousands of charities have been able to expand their meaningful work thanks to the donations they’ve received through AmazonSmile, and we want to say thank you to customers who are supporting important causes every time they shop,” said Jeff Wilke, Amazon Worldwide Consumer CEO.
The BitGive foundation also accepts donations through their website to support their work with specific charities. Some of the past projects that BitGive has successfully funded and supported in the past include theMaternal & Neonatal India Program, theChandolo Primary School Water Projectand theShisango Girls School.
BitGive has also developedGiveTrack, a blockchain-based platform designed to make charitable organizations more transparent and increase donor confidence.
“GiveTrack has been our main project for the past few years,” said Gallippi. “We have alive MVPnow where you can see some of our early pilot projects, and there is somegeneral informationabout the goals of the platform as well. We have an anticipated launch for GiveTrack 1.0 in early December.”
This article originally appeared onBitcoin Magazine. || Norway Withdraws Electricity Subsidies From Bitcoin Mining Farms: Norwayhas acted to end electricity subsidies for Bitcoin (BTC)miningfacilities, Norway’s largest printed newspaper AftenpostenreportedNov. 21.
Until now, mining farms — in keeping with other power-intensive industries — paid a low rate of 0.48 øre ($0.05) per kilowatt. This will now rise to 16.58 øre per kilowatt as of January 2019, following an amended to the state budget agreement. One vocal parliamentary representative for the Socialist Left Party (SV) Lars Haltbrekken is quoted as strongly advocating the action, arguing:
"Norway can not continue to provide huge tax incentives for the most dirty form of cryptocurrency output [...] [Bitcoin] requires a lot of energy and generates large greenhouse gas emissions globally."
As Forbesreportedearlier this month, with the currently advantageous electricity subsidies, Norwegian farms are able to mine Bitcoin at an average cost of $7,700 per coin, according to data from Northern Bitcoin, a German-listed firm that mines cryptocurrencies in Norway.
Aftenposten reports that the domestic industry interest group ICT Norway has responded with strong criticism of the government action; chief ICT economist Roger Schjerva has reportedly issued a sharp-toned statement, protesting:
“This is shocking! [To change] framework conditions without discussion, consultation or dialogue with the industry. Norway scores high on rankings of political stability and predictable framework conditions, but now the government is playing a gambling role with its credibility.”
There are nonetheless some within the local blockchain industry, however, who broadly agree with the government’s move. Aftenposten cites Jon Ramvi, CEO of Oslo-based blockchain advisory group Blockchangers, as saying that “less mining in Norway will reduce the prices of electricity for companies and people residing in Norway, meaning that we reap the benefits of these resources locally instead of giving it away to Bitcoin miners.”
Ramvi added that "more miners in the Bitcoin network does not make it faster or scale better. The only function of more miners is securing the network further,” arguing that the BTC network has been “extremely secure” for “over a year,” removing the need to incentivize more miners.
A recent report from weekly crypto outlet Diarindicatedthat only “big guns” in the industry are still making profit from Bitcoin mining; smaller miners paying retail electricity prices shifted towards negative revenue for the first time this September as the costs of electricity rises.
• Crypto Trading Exec: Price Slump to Continue, With Bitcoin Bottoming Out at $3,000
• China: Crypto Miners Sell off Mining Devices ‘by Kilo’ Amidst Market Decline
• Italian Securities Watchdog Orders Unauthorized Crypto Companies to Cease and Desist
• How Crypto Market Fall Influences Mining Hardware Sales and Producers’ Revenues || Norway Withdraws Electricity Subsidies From Bitcoin Mining Farms: Norway has acted to end electricity subsidies for Bitcoin ( BTC ) mining facilities, Norways largest printed newspaper Aftenposten reported Nov. 21. Until now, mining farms in keeping with other power-intensive industries paid a low rate of 0.48 øre ($0.05) per kilowatt. This will now rise to 16.58 øre per kilowatt as of January 2019, following an amended to the state budget agreement. One vocal parliamentary representative for the Socialist Left Party (SV) Lars Haltbrekken is quoted as strongly advocating the action, arguing: "Norway can not continue to provide huge tax incentives for the most dirty form of cryptocurrency output [...] [Bitcoin] requires a lot of energy and generates large greenhouse gas emissions globally." As Forbes reported earlier this month, with the currently advantageous electricity subsidies, Norwegian farms are able to mine Bitcoin at an average cost of $7,700 per coin, according to data from Northern Bitcoin, a German-listed firm that mines cryptocurrencies in Norway. Aftenposten reports that the domestic industry interest group ICT Norway has responded with strong criticism of the government action; chief ICT economist Roger Schjerva has reportedly issued a sharp-toned statement, protesting: This is shocking! [To change] framework conditions without discussion, consultation or dialogue with the industry. Norway scores high on rankings of political stability and predictable framework conditions, but now the government is playing a gambling role with its credibility. There are nonetheless some within the local blockchain industry, however, who broadly agree with the governments move. Aftenposten cites Jon Ramvi, CEO of Oslo-based blockchain advisory group Blockchangers, as saying that less mining in Norway will reduce the prices of electricity for companies and people residing in Norway, meaning that we reap the benefits of these resources locally instead of giving it away to Bitcoin miners. Story continues Ramvi added that "more miners in the Bitcoin network does not make it faster or scale better. The only function of more miners is securing the network further, arguing that the BTC network has been extremely secure for over a year, removing the need to incentivize more miners. A recent report from weekly crypto outlet Diar indicated that only big guns in the industry are still making profit from Bitcoin mining; smaller miners paying retail electricity prices shifted towards negative revenue for the first time this September as the costs of electricity rises. Related Articles: Crypto Trading Exec: Price Slump to Continue, With Bitcoin Bottoming Out at $3,000 China: Crypto Miners Sell off Mining Devices by Kilo Amidst Market Decline Italian Securities Watchdog Orders Unauthorized Crypto Companies to Cease and Desist How Crypto Market Fall Influences Mining Hardware Sales and Producers Revenues
[Social Media Buzz]
Bitcoin - BTC
Price: $4,366.49
Change in 1h: -0.04%
Market cap: $75,929,236,407.00
Ranking: 1
#Bitcoin #BTC || 1 BTC = 16701.00001000 BRL em 23/11/2018 ás 14:00:01. #bitcoin #bitcoinbr #bitcoinexchangebr || #BTCUSD Market #1H timeframe on November 23 at 16:00 (UTC) is #Bearish. #cryptocurrency #bitcoin #btc #crypto #trading #idea #report technical analysis || Fast forward one year later...
Many people scared that 2019 will be a prolonged multi-year bear market. Seeing lots of $800 targets on ...
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3880.76, 4009.97, 3779.13, 3820.72, 4257.42, 4278.85, 4017.27, 4214.67, 4139.88, 3894.13
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Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 577.50, 575.47, 572.30, 575.54, 598.21, 608.63, 606.59, 610.44, 614.54, 626.32, 622.86, 623.51, 606.72, 608.24, 609.24, 610.68, 607.16, 606.97, 605.98, 609.87, 609.23, 608.31, 597.15, 596.30, 602.84, 602.62, 600.83, 608.04, 606.17, 604.73, 605.69, 609.73, 613.98, 610.89, 612.13, 610.20, 612.51, 613.02, 617.12, 619.11, 616.75, 618.99, 641.07, 636.19, 636.79, 640.38, 638.65, 641.63, 639.19, 637.96, 630.52, 630.86, 632.83, 657.29, 657.07, 653.76, 657.59, 678.30, 688.31, 689.65, 714.48, 701.86, 700.97, 729.79, 740.83, 688.70, 703.23, 703.42, 711.52, 703.13, 709.85, 723.27, 715.53, 716.41, 705.05, 702.03, 705.02, 711.62, 744.20, 740.98, 751.59, 751.62, 731.03, 739.25, 751.35, 744.59, 740.29, 741.65, 735.38, 732.03.
|
[Bitcoin Technical Analysis for 2016-11-27]
Volume: 52601800, RSI (14-day): 55.04, 50-day EMA: 698.09, 200-day EMA: 613.82
[Wider Market Context]
None available.
[Recent News (last 7 days)]
Tips on How to Protect Your Private Information On Black Friday and Cyber Monday: Americans will line up around stores and standby their computers or smartphones to take advantage of Black Friday and Cyber Monday deals, but protecting their private information should also be priority for shoppers. During the holiday season many shoppers are harmed by failing to take simple precautions, says Gene Richardson, COO of Experts Exchange , a network for technology professionals. In Store Vs. Online Retail stores are one of the top areas identity thieves go after, Richardson said in an email to the IBTimes. A large number of some of the biggest identity thefts in the past few years were at large retail stores, he says. Long lines and busy cashiers could potentially put your private information at risk. “All the clerk cares about is getting you through the line as fast as they can so they can deal with the next customer and hope that none of you are angry,” says Richardson. “So, if there is a hiccup with your transaction, they will take “backup” paths to complete your transaction like entering your credit card number by hand.” Richardson, who is also the former head of the data security teams IBM, Charles Schwab and Motorola, says customers should never give their credit card to someone to perform a transaction by entering a card number. “Hand transactions are a huge risk for identity theft,” he says. Customers should also avoid buying if a cashier’s computer is down or too busy, unless it’s with cash, or try to go back later. Credit card scanners are also a threat to customers, as some of them may be rigged to copy a person’s information so that a duplicate credit card can be made. People may be less exposed to this action in large retail stores, but the risk is higher in smaller boutiques shops, says Richardson. Customers should also make sure their credit card number is not printed on receipts and should instead have XXX's where the number is displayed. But online purchases can be riskier because of all the extra information customers hand over, like their name, address, phone number, credit card information, expiration date and CSV. Story continues “They ask for so much more information from you to validate who you are than a purchase in a retail store,” says Richardson. “You have no control of who or where that information is going.” Tips to Protect Yourself Here are Richardson’s tips for shoppers on how they can protect themselves on Black Friday and Cyber Monday: Ensure that the website address is secure and has a valid encryption certificate. It will usually display a “locked, green” indicator in front of the website name. If it doesn’t have that, it does not have a higher level of security that has been guaranteed by a known entity like Verisign, Symantec and others. Ensure your system has the most recent recommended system and security patches. Always use a credit card that is not tied directly to your personal bank account(s), even if you are using PayPal, Bitcoin or some other payment method. Never give anything other than name, address and phone number. You should not need to answer security or privacy questions when making a purchase or checking out. If they ask, see if you can checkout as a “guest” instead. Monitor your credit through a third party for identify theft and have SMS and email alerts sent to you immediately. Set-up alerts with your credit card company that send both SMS and emails when any purchases are made and the credit card was not scanned (meaning, it wasn’t in someone’s hand when the charge was made). Set them as low as $25 per purchase. Also, set-up alerts for total purchases over $500 in a billing period to protect multiple $24.99 purchases. And if possible, a maximum amount of purchases allowed in a billing period such as $1500 before card will get declined. Ensure that you have a reputable Antivirus program running on your computer and that your browser has an Ad blocking plug-in. (Richardson recommends Norton, McAfee or ESET.) Ensure that the network your computer/device is on is secure and you know who has access to your network. This is usually done with your router. You want to lock down your router so that traffic can be initiated from the inside-out but you do not want traffic to be initiated from the outside-in. If you are using a WiFi connection, make sure that network is also secure and requires a password to join. If it is a public WiFi network that doesn’t require a password, then the traffic coming from your device can be monitored and stolen. (Link to onsite how-to article?) Any passwords that you use should be strong, hard to guess ones. Or, even better, hard to guess, but easy to remember . Don’t click on unfamiliar links to sites advertising sales, coupons, etc. Use two-factor authentication/verification, if it is offered. Shopping on Mobile Devices One in 10 mobile apps that are found through searching “Black Friday” are blacklisted as malicious, according to cyber security company RiskIQ An estimated 30 percent of purchases will be made on mobile devices, RiskIQ says. Shopping on mobile devices can substantially increase the risk of encountering phishing pages, malicious apps, and viruses that infect customers’ smartphones and tablets to steal money and private information. There are also fake apps out there that contain malware that can steal customers’ data or lock the device until the user pays a ransom, says RiskIQ. Other malicious apps may ask consumers to use their Facebook or Gmail logins, which could compromise their private information. Tips For Safe Shopping on Mobile Devices Here are some tips from RiskIQ: Ensure that you are only downloading apps from official app stores such as Google or Apple Be wary of applications that ask for suspicious permissions, like access to contacts, text messages, administrative features, stored passwords, or credit card info. Just because an app appears to have a good reputation doesn’t make it so. Rave reviews can be forged, and a high amount of downloads can simply indicate a threat actor was successful in fooling a lot of victims. Before downloading an app, be sure to take a look at the developer—if it’s not a brand you recognize or has a strange appearance or spelling, think twice. You can even do a Google search on the developer for more clues about its reputation. Make sure to take a deep look at each app. New developers, or developers that leverage free email services (e.g., @gmail) for their developer contact, can be enormous red flags— threat actors often use these services to produce mass amounts of malicious apps in a short period. Also, poor grammar in the description highlights the haste of development and the lack of marketing professionalism that are hallmarks of mobile malware campaigns. Check website addresses after following links on Twitter, Facebook, or other social media channels to be sure you end up on the true website of the retailer you want. Look for the “S” in HTTPS when you visit shopping sites. Beware of shopping sites that do not use HTTPS in their website addresses or do not display the symbol of a lock next to the web address. Secure sites use HTTPS, and without that, you’re dealing with unsecured connections or weak encryption of personal data. Never provide your credit card information unless you are in a secure online shopping portal. Sites that ask for it in return for “coupons” or to win “free” merchandise are almost always scams. Protect Yourself From a Major Headache For those who might not want to go through the hassle of setting up credit card alerts on purchases or locking down their router, it’s important to remember that it can and save consumers from a major headache. “Identity theft could cost you several thousand dollars in actual money and can cost you a lot more in your personal time and future anticipated losses cleaning up after the fact,” Richardson said. “The impact of identity theft could last years as you personally have to work to call all your creditors to fix your credit, loss of credibility for future purchases of a home, car, etc. as your credit scores will have been impacted, the effect on future employment opportunities as background checks are run and many, many more,” he added. Related Articles $100 Off HTC Vive On Black Friday and Cyber Monday American Consumers Prep For Cyber Monday || Tips on How to Protect Your Private Information On Black Friday and Cyber Monday: Americans will line up around stores and standby their computers or smartphones to take advantage of Black Friday and Cyber Monday deals, but protecting their private information should also be priority for shoppers. During the holiday season many shoppers are harmed by failing to take simple precautions, says Gene Richardson, COO of Experts Exchange , a network for technology professionals. In Store Vs. Online Retail stores are one of the top areas identity thieves go after, Richardson said in an email to the IBTimes. A large number of some of the biggest identity thefts in the past few years were at large retail stores, he says. Long lines and busy cashiers could potentially put your private information at risk. “All the clerk cares about is getting you through the line as fast as they can so they can deal with the next customer and hope that none of you are angry,” says Richardson. “So, if there is a hiccup with your transaction, they will take “backup” paths to complete your transaction like entering your credit card number by hand.” Richardson, who is also the former head of the data security teams IBM, Charles Schwab and Motorola, says customers should never give their credit card to someone to perform a transaction by entering a card number. “Hand transactions are a huge risk for identity theft,” he says. Customers should also avoid buying if a cashier’s computer is down or too busy, unless it’s with cash, or try to go back later. Credit card scanners are also a threat to customers, as some of them may be rigged to copy a person’s information so that a duplicate credit card can be made. People may be less exposed to this action in large retail stores, but the risk is higher in smaller boutiques shops, says Richardson. Customers should also make sure their credit card number is not printed on receipts and should instead have XXX's where the number is displayed. But online purchases can be riskier because of all the extra information customers hand over, like their name, address, phone number, credit card information, expiration date and CSV. Story continues “They ask for so much more information from you to validate who you are than a purchase in a retail store,” says Richardson. “You have no control of who or where that information is going.” Tips to Protect Yourself Here are Richardson’s tips for shoppers on how they can protect themselves on Black Friday and Cyber Monday: Ensure that the website address is secure and has a valid encryption certificate. It will usually display a “locked, green” indicator in front of the website name. If it doesn’t have that, it does not have a higher level of security that has been guaranteed by a known entity like Verisign, Symantec and others. Ensure your system has the most recent recommended system and security patches. Always use a credit card that is not tied directly to your personal bank account(s), even if you are using PayPal, Bitcoin or some other payment method. Never give anything other than name, address and phone number. You should not need to answer security or privacy questions when making a purchase or checking out. If they ask, see if you can checkout as a “guest” instead. Monitor your credit through a third party for identify theft and have SMS and email alerts sent to you immediately. Set-up alerts with your credit card company that send both SMS and emails when any purchases are made and the credit card was not scanned (meaning, it wasn’t in someone’s hand when the charge was made). Set them as low as $25 per purchase. Also, set-up alerts for total purchases over $500 in a billing period to protect multiple $24.99 purchases. And if possible, a maximum amount of purchases allowed in a billing period such as $1500 before card will get declined. Ensure that you have a reputable Antivirus program running on your computer and that your browser has an Ad blocking plug-in. (Richardson recommends Norton, McAfee or ESET.) Ensure that the network your computer/device is on is secure and you know who has access to your network. This is usually done with your router. You want to lock down your router so that traffic can be initiated from the inside-out but you do not want traffic to be initiated from the outside-in. If you are using a WiFi connection, make sure that network is also secure and requires a password to join. If it is a public WiFi network that doesn’t require a password, then the traffic coming from your device can be monitored and stolen. (Link to onsite how-to article?) Any passwords that you use should be strong, hard to guess ones. Or, even better, hard to guess, but easy to remember . Don’t click on unfamiliar links to sites advertising sales, coupons, etc. Use two-factor authentication/verification, if it is offered. Shopping on Mobile Devices One in 10 mobile apps that are found through searching “Black Friday” are blacklisted as malicious, according to cyber security company RiskIQ An estimated 30 percent of purchases will be made on mobile devices, RiskIQ says. Shopping on mobile devices can substantially increase the risk of encountering phishing pages, malicious apps, and viruses that infect customers’ smartphones and tablets to steal money and private information. There are also fake apps out there that contain malware that can steal customers’ data or lock the device until the user pays a ransom, says RiskIQ. Other malicious apps may ask consumers to use their Facebook or Gmail logins, which could compromise their private information. Tips For Safe Shopping on Mobile Devices Here are some tips from RiskIQ: Ensure that you are only downloading apps from official app stores such as Google or Apple Be wary of applications that ask for suspicious permissions, like access to contacts, text messages, administrative features, stored passwords, or credit card info. Just because an app appears to have a good reputation doesn’t make it so. Rave reviews can be forged, and a high amount of downloads can simply indicate a threat actor was successful in fooling a lot of victims. Before downloading an app, be sure to take a look at the developer—if it’s not a brand you recognize or has a strange appearance or spelling, think twice. You can even do a Google search on the developer for more clues about its reputation. Make sure to take a deep look at each app. New developers, or developers that leverage free email services (e.g., @gmail) for their developer contact, can be enormous red flags— threat actors often use these services to produce mass amounts of malicious apps in a short period. Also, poor grammar in the description highlights the haste of development and the lack of marketing professionalism that are hallmarks of mobile malware campaigns. Check website addresses after following links on Twitter, Facebook, or other social media channels to be sure you end up on the true website of the retailer you want. Look for the “S” in HTTPS when you visit shopping sites. Beware of shopping sites that do not use HTTPS in their website addresses or do not display the symbol of a lock next to the web address. Secure sites use HTTPS, and without that, you’re dealing with unsecured connections or weak encryption of personal data. Never provide your credit card information unless you are in a secure online shopping portal. Sites that ask for it in return for “coupons” or to win “free” merchandise are almost always scams. Protect Yourself From a Major Headache For those who might not want to go through the hassle of setting up credit card alerts on purchases or locking down their router, it’s important to remember that it can and save consumers from a major headache. “Identity theft could cost you several thousand dollars in actual money and can cost you a lot more in your personal time and future anticipated losses cleaning up after the fact,” Richardson said. “The impact of identity theft could last years as you personally have to work to call all your creditors to fix your credit, loss of credibility for future purchases of a home, car, etc. as your credit scores will have been impacted, the effect on future employment opportunities as background checks are run and many, many more,” he added. Related Articles $100 Off HTC Vive On Black Friday and Cyber Monday American Consumers Prep For Cyber Monday || First Bitcoin Capital Corp Announces Appointment of Bitcoin Protocol Development Expert Patrick Dugan to the Company’s Board of Directors. Additional Developments Announced: VANCOUVER, B.C. / ACCESSWIRE / November 23, 2016 / First Bitcoin Capital Corp is pleased to announce that leading bitcoin protocol development expert in the crypto currency field Patrick Dugan has joined the company's Board of Directors. A serial entrepreneur with several years of experience in blockchain, finance, ecommerce and game development, Mr. Dugan has extensive knowledge of complex securitization structures and trading strategies. Mr. Dugan brings 9 years of trading experience, with over 3 years in cryptocurrency trading, averaging 50% annual returns. He served as a consultant on social game economics, and market making operations for exchanges. Mr. Dugan has served for the last year and a half as operations manager for the Omni Layer Foundation (previously Mastercoin), and has been involved in the issuance of the world's first bearer bonds on the Bitcoin blockchain. "Patrick Dugan is well known in the international crypto-currency space," the company said. "He brings a wealth of strategic experience in finance and blockchain business development. We look forward to his contributions as a member of our Board as we advance the development of the world’s first on-blockchain REIT offering." Mrs. Dugan said he seeks to bring to First Bitcoin Capital his expertise in bitcoin and blockchain protocol and assist new or existing initiatives that plan to build upon and take advantage of the capabilities offered by the Omni Layer protocol. BITCF has thus far utilized the Omni Layer Protocol to launch 6 cryptocurrencies such as symbols, PRES, TESLA, HILL, GARY, BURN, and OTX. Furthermore, in conjunction with BITCF expanding ownership of its common shares onto its own blockchain (BIT) and trading on foreign international cryptocurrency exchanges, the company invites its shareholders to exercise an option to convert their paper certificates into digital shares. Shareholders need only surrender their certificates with instruction to deliver those shares to the BIT wallet address they provide to the company. Story continues About the company: First Bitcoin Capital is engaged in developing digital currencies, proprietary Blockchain technologies, and the digital currency exchange- www.CoinQX.com. We see this step as a tremendous opportunity to create further shareholder value by leveraging management's experience in developing and managing complex Blockchain technologies, developing new types of digital assets. "Being the first publicly-traded cryptocurrency and blockchain-centered company (with shares both traded in the US OTC Markets as [BITCF] and as [BIT] in crypto exchanges) we want to provide our shareholders with diversified exposure to digital cryptocurrencies and blockchain technologies." At this time the Company owns and operates the following digital assets. www.BITCoinCapitalcorp.com company website. www.CoinQX.com Cryptocurrency Exchange, registered with FINCEN. www.iCoiNEWS.com real time cryptocurrency and bitcoin news site. www.BITminer.cc providing mining pool management services. www.2016coin.org online daily election coverage and home page for $PRES, $HILL and $GARY $BURN coins. Forward-Looking Statements Certain statements contained in this press release may constitute "forward-looking statements." Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors as may be disclosed in company's filings. In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic conditions, and governmental and public policy changes. The forward-looking statements included in this press release represent the Company's views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of the press release .Such forward-looking statements are risks that are detailed in the Company's filings, which are on file at www.OTCMarkets.com . Contact us via: info@bitcoincapitalcorp.com or visit http://www.bitcoincapitalcorp.com SOURCE: First Bitcoin Capital Corp. || First Bitcoin Capital Corp Announces Appointment of Bitcoin Protocol Development Expert Patrick Dugan to the Company’s Board of Directors. Additional Developments Announced: VANCOUVER, B.C. / ACCESSWIRE / November 23, 2016 /First Bitcoin Capital Corp is pleased to announce that leading bitcoin protocol development expert in the crypto currency field Patrick Dugan has joined the company's Board of Directors.
A serial entrepreneur with several years of experience in blockchain, finance, ecommerce and game development, Mr. Dugan has extensive knowledge of complex securitization structures and trading strategies.
Mr. Dugan brings 9 years of trading experience, with over 3 years in cryptocurrency trading, averaging 50% annual returns. He served as a consultant on social game economics, and market making operations for exchanges.
Mr. Dugan has served for the last year and a half as operations manager for the Omni Layer Foundation (previously Mastercoin), and has been involved in the issuance of the world's first bearer bonds on the Bitcoin blockchain.
"Patrick Dugan is well known in the international crypto-currency space," the company said. "He brings a wealth of strategic experience in finance and blockchain business development. We look forward to his contributions as a member of our Board as we advance the development of the world’s first on-blockchain REIT offering."
Mrs. Dugan said he seeks to bring to First Bitcoin Capital his expertise in bitcoin and blockchain protocol and assist new or existing initiatives that plan to build upon and take advantage of the capabilities offered by the Omni Layer protocol. BITCF has thus far utilized the Omni Layer Protocol to launch 6 cryptocurrencies such as symbols, PRES, TESLA, HILL, GARY, BURN, and OTX.
Furthermore, in conjunction with BITCF expanding ownership of its common shares onto its own blockchain (BIT) and trading on foreign international cryptocurrency exchanges, the company invites its shareholders to exercise an option to convert their paper certificates into digital shares. Shareholders need only surrender their certificates with instruction to deliver those shares to the BIT wallet address they provide to the company.
About the company:
First Bitcoin Capital is engaged in developing digital currencies, proprietary Blockchain technologies, and the digital currency exchange- www.CoinQX.com. We see this step as a tremendous opportunity to create further shareholder value by leveraging management's experience in developing and managing complex Blockchain technologies, developing new types of digital assets. "Being the first publicly-traded cryptocurrency and blockchain-centered company (with shares both traded in the US OTC Markets as [BITCF] and as [BIT] in crypto exchanges) we want to provide our shareholders with diversified exposure to digital cryptocurrencies and blockchain technologies." At this time the Company owns and operates the following digital assets.
www.BITCoinCapitalcorp.comcompany website.
www.CoinQX.comCryptocurrency Exchange, registered with FINCEN.
www.iCoiNEWS.comreal time cryptocurrency and bitcoin news site.
www.BITminer.ccproviding mining pool management services.
www.2016coin.orgonline daily election coverage and home page for $PRES, $HILL and $GARY $BURN coins.
Forward-Looking Statements
Certain statements contained in this press release may constitute "forward-looking statements." Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors as may be disclosed in company's filings. In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic conditions, and governmental and public policy changes. The forward-looking statements included in this press release represent the Company's views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of the press release .Such forward-looking statements are risks that are detailed in the Company's filings, which are on file atwww.OTCMarkets.com.
Contact us via:info@bitcoincapitalcorp.comor visithttp://www.bitcoincapitalcorp.com
SOURCE:First Bitcoin Capital Corp. || First Bitcoin Capital Corp Announces Appointment of Bitcoin Protocol Development Expert Patrick Dugan to the Company’s Board of Directors. Additional Developments Announced: VANCOUVER, B.C. / ACCESSWIRE / November 23, 2016 /First Bitcoin Capital Corp is pleased to announce that leading bitcoin protocol development expert in the crypto currency field Patrick Dugan has joined the company's Board of Directors.
A serial entrepreneur with several years of experience in blockchain, finance, ecommerce and game development, Mr. Dugan has extensive knowledge of complex securitization structures and trading strategies.
Mr. Dugan brings 9 years of trading experience, with over 3 years in cryptocurrency trading, averaging 50% annual returns. He served as a consultant on social game economics, and market making operations for exchanges.
Mr. Dugan has served for the last year and a half as operations manager for the Omni Layer Foundation (previously Mastercoin), and has been involved in the issuance of the world's first bearer bonds on the Bitcoin blockchain.
"Patrick Dugan is well known in the international crypto-currency space," the company said. "He brings a wealth of strategic experience in finance and blockchain business development. We look forward to his contributions as a member of our Board as we advance the development of the world’s first on-blockchain REIT offering."
Mrs. Dugan said he seeks to bring to First Bitcoin Capital his expertise in bitcoin and blockchain protocol and assist new or existing initiatives that plan to build upon and take advantage of the capabilities offered by the Omni Layer protocol. BITCF has thus far utilized the Omni Layer Protocol to launch 6 cryptocurrencies such as symbols, PRES, TESLA, HILL, GARY, BURN, and OTX.
Furthermore, in conjunction with BITCF expanding ownership of its common shares onto its own blockchain (BIT) and trading on foreign international cryptocurrency exchanges, the company invites its shareholders to exercise an option to convert their paper certificates into digital shares. Shareholders need only surrender their certificates with instruction to deliver those shares to the BIT wallet address they provide to the company.
About the company:
First Bitcoin Capital is engaged in developing digital currencies, proprietary Blockchain technologies, and the digital currency exchange- www.CoinQX.com. We see this step as a tremendous opportunity to create further shareholder value by leveraging management's experience in developing and managing complex Blockchain technologies, developing new types of digital assets. "Being the first publicly-traded cryptocurrency and blockchain-centered company (with shares both traded in the US OTC Markets as [BITCF] and as [BIT] in crypto exchanges) we want to provide our shareholders with diversified exposure to digital cryptocurrencies and blockchain technologies." At this time the Company owns and operates the following digital assets.
www.BITCoinCapitalcorp.comcompany website.
www.CoinQX.comCryptocurrency Exchange, registered with FINCEN.
www.iCoiNEWS.comreal time cryptocurrency and bitcoin news site.
www.BITminer.ccproviding mining pool management services.
www.2016coin.orgonline daily election coverage and home page for $PRES, $HILL and $GARY $BURN coins.
Forward-Looking Statements
Certain statements contained in this press release may constitute "forward-looking statements." Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors as may be disclosed in company's filings. In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic conditions, and governmental and public policy changes. The forward-looking statements included in this press release represent the Company's views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of the press release .Such forward-looking statements are risks that are detailed in the Company's filings, which are on file atwww.OTCMarkets.com.
Contact us via:info@bitcoincapitalcorp.comor visithttp://www.bitcoincapitalcorp.com
SOURCE:First Bitcoin Capital Corp. || John Reid Confirmed as CEO of Cable and Wireless: MIAMI, FL--(Marketwired - Nov 21, 2016) - John Reid has been confirmed as Chief Executive Officer ofC&W Communications("C&W", or the "Company") effective November 7, 2016. C&W serves 18 countries and is one of the largest full service telecommunications and entertainment providers in the Caribbean and Latin America. The Company was recently acquired byLiberty Globalplc "Liberty Global", the world's largest international TV and broadband company.
"This is a time of meaningful change and development for C&W, and I am excited for the expertise and continuity that John brings to this growing region," said Mike Fries, CEO of Liberty Global. Reid is tasked with aligning the former UK-based company with Liberty's Latin America and Caribbean ("LiLAC Group") division, while strengthening the Company's growth opportunities, in particular triple-play, mobile data and fixed-mobile convergence, and seizing on the significant business-to-business and wholesale opportunities in the region.
"I am honored to lead C&W Communications into the next phase of our development. I look forward to achieving our growth objectives, creating greater value for our stakeholders, and transforming our employee and customer experience," Reid said.
Reid, a Canadian national, is uniquely positioned to take C&W to its next chapter as he has over 28 years of telecommunications and cable television experience, and has spearheaded complex integrations and pioneered a culture of transformation and engagement, first in Canada, and during the past 11 years, across the Caribbean. Prior to his role as Interim CEO of C&W, Reid served as C&W's President, Consumer Division and was part of the executive leadership team at C&W that achieved in excess of $100m in synergies in less than 18 months following the Columbus transaction.
At Columbus, where he was President and Chief Operating Officer, he led the Company to become a leader and innovator in the broadband and entertainment industry across the Caribbean and Latin America. Prior to Columbus John held various roles with Canadian MSO Persona, holding the position of Executive Vice President & Chief Operating Officer.
John holds a B.A. and an M.B.A. from Memorial University of Newfoundland, serves as the Chairman of Bahamas Telecommunications Company (BTC), a 49% subsidiary of C&W, and is a member of the Advisory Board of Caribbean Tales.
About C&W CommunicationsC&W is a full service communications and entertainment provider and delivers market-leading video, broadband, telephony and mobile services to consumers in 18 countries. Through its business division, C&W provides data center hosting, domestic and international managed network services, and customized IT service solutions, utilizing cloud technology to serve business and government customers.
C&W also operates a state-of-the-art submarine fiber network -- the most extensive in the region.
Learn more atwww.cwc.com, or follow C&W onLinkedIn,FacebookorTwitter.
About Liberty GlobalLiberty Global is the world's largest international TV and broadband company, with operations in more than 30 countries across Europe, Latin America and the Caribbean. Liberty Global invests in the infrastructure that empowers its customers to make the most of the digital revolution. Liberty Global's scale and commitment to innovation enables it to develop market-leading products delivered through next-generation networks that connect its 29 million customers who subscribe to 60 million television, broadband internet and telephony services. Liberty Global also serves over 10 million mobile subscribers and offers WiFi service across seven million access points.
Liberty Global's businesses are comprised of two stocks: the Liberty Global Group (NASDAQ:LBTYA) (NASDAQ:LBTYB) (NASDAQ:LBTYK) for its European operations, and the LiLAC Group (NASDAQ:LILA) (NASDAQ:LILAK) (OTC PINK:LILAB), which consists of its operations in Latin America and the Caribbean.
The Liberty Global Group operates in 12 European countries under the consumer brands Virgin Media, Ziggo, Unitymedia, Telenet and UPC. The LiLAC Group operates in over 20 countries in Latin America and the Caribbean under the consumer brands VTR, Flow, Liberty, Mas Movil and BTC. In addition, the LiLAC Group operates a subsea fiber network throughout the region in over 30 markets.
For more information, please visitwww.libertyglobal.com.
Image Available:http://www2.marketwire.com/mw/frame_mw?attachid=3082861 || John Reid Confirmed as CEO of Cable and Wireless: MIAMI, FL--(Marketwired - Nov 21, 2016) - John Reid has been confirmed as Chief Executive Officer of C&W Communications ("C&W", or the "Company") effective November 7, 2016. C&W serves 18 countries and is one of the largest full service telecommunications and entertainment providers in the Caribbean and Latin America. The Company was recently acquired by Liberty Global plc "Liberty Global", the world's largest international TV and broadband company. "This is a time of meaningful change and development for C&W, and I am excited for the expertise and continuity that John brings to this growing region," said Mike Fries, CEO of Liberty Global. Reid is tasked with aligning the former UK-based company with Liberty's Latin America and Caribbean ("LiLAC Group") division, while strengthening the Company's growth opportunities, in particular triple-play, mobile data and fixed-mobile convergence, and seizing on the significant business-to-business and wholesale opportunities in the region. "I am honored to lead C&W Communications into the next phase of our development. I look forward to achieving our growth objectives, creating greater value for our stakeholders, and transforming our employee and customer experience," Reid said. Reid, a Canadian national, is uniquely positioned to take C&W to its next chapter as he has over 28 years of telecommunications and cable television experience, and has spearheaded complex integrations and pioneered a culture of transformation and engagement, first in Canada, and during the past 11 years, across the Caribbean. Prior to his role as Interim CEO of C&W, Reid served as C&W's President, Consumer Division and was part of the executive leadership team at C&W that achieved in excess of $100m in synergies in less than 18 months following the Columbus transaction. At Columbus, where he was President and Chief Operating Officer, he led the Company to become a leader and innovator in the broadband and entertainment industry across the Caribbean and Latin America. Prior to Columbus John held various roles with Canadian MSO Persona, holding the position of Executive Vice President & Chief Operating Officer. Story continues John holds a B.A. and an M.B.A. from Memorial University of Newfoundland, serves as the Chairman of Bahamas Telecommunications Company (BTC), a 49% subsidiary of C&W, and is a member of the Advisory Board of Caribbean Tales. About C&W Communications C&W is a full service communications and entertainment provider and delivers market-leading video, broadband, telephony and mobile services to consumers in 18 countries. Through its business division, C&W provides data center hosting, domestic and international managed network services, and customized IT service solutions, utilizing cloud technology to serve business and government customers. C&W also operates a state-of-the-art submarine fiber network -- the most extensive in the region. Learn more at www.cwc.com , or follow C&W on LinkedIn , Facebook or Twitter . About Liberty Global Liberty Global is the world's largest international TV and broadband company, with operations in more than 30 countries across Europe, Latin America and the Caribbean. Liberty Global invests in the infrastructure that empowers its customers to make the most of the digital revolution. Liberty Global's scale and commitment to innovation enables it to develop market-leading products delivered through next-generation networks that connect its 29 million customers who subscribe to 60 million television, broadband internet and telephony services. Liberty Global also serves over 10 million mobile subscribers and offers WiFi service across seven million access points. Liberty Global's businesses are comprised of two stocks: the Liberty Global Group ( NASDAQ : LBTYA ) ( NASDAQ : LBTYB ) ( NASDAQ : LBTYK ) for its European operations, and the LiLAC Group ( NASDAQ : LILA ) ( NASDAQ : LILAK ) ( OTC PINK : LILAB ), which consists of its operations in Latin America and the Caribbean. The Liberty Global Group operates in 12 European countries under the consumer brands Virgin Media, Ziggo, Unitymedia, Telenet and UPC. The LiLAC Group operates in over 20 countries in Latin America and the Caribbean under the consumer brands VTR, Flow, Liberty, Mas Movil and BTC. In addition, the LiLAC Group operates a subsea fiber network throughout the region in over 30 markets. For more information, please visit www.libertyglobal.com . Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=3082861
[Social Media Buzz]
#EuroCoin #EUC $0.000147 (-0.61%) 0.00000020 BTC (0.00%) || Ⓡ Average price of Bitcoin now is $727.00 http://ln.is/vFiIE #bitcoin #fintech #blockchain... by #alt_bit_coins via @c0nvey || 1 #BTC (#Bitcoin) quotes:
$725.55/$727.00 #Bitstamp
$735.27/$736.55 #BTCe
⇢$8.27/$11.00
$729.98/$737.93 #Coinbase
⇢$2.98/$12.38 || 現在の価格は 82002円(http://blockchain.info )です。前回比は0円(0.00%)です。http://konvert.in/currency/1-bitcoin-to-japanese-yen … #ビットコイン #bitcoin via @konvertin || $729.27 #bitstamp;
$725.48 #bitfin...
|
735.81, 735.60, 745.69, 756.77, 777.94, 771.16, 773.87, 758.70, 764.22, 768.13
|
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 10915.69, 11064.46, 11296.36, 11384.18, 11555.36, 11425.90, 11429.51, 11495.35, 11322.12, 11358.10, 11483.36, 11742.04, 11916.33, 12823.69, 12965.89, 12931.54, 13108.06, 13031.17, 13075.25, 13654.22, 13271.29, 13437.88, 13546.52, 13781.00, 13737.11, 13550.49, 13950.30, 14133.71, 15579.85, 15565.88, 14833.75, 15479.57, 15332.32, 15290.90, 15701.34, 16276.34, 16317.81, 16068.14, 15955.59, 16716.11, 17645.41, 17804.01, 17817.09, 18621.31, 18642.23, 18370.00, 18364.12, 19107.46, 18732.12, 17150.62, 17108.40, 17717.41, 18177.48, 19625.84, 18803.00, 19201.09, 19445.40, 18699.77, 19154.23, 19345.12, 19191.63, 18321.14, 18553.92, 18264.99, 18058.90, 18803.66, 19142.38, 19246.64, 19417.08, 21310.60, 22805.16, 23137.96, 23869.83, 23477.29, 22803.08, 23783.03, 23241.35, 23735.95, 24664.79, 26437.04, 26272.29, 27084.81, 27362.44, 28840.95, 29001.72, 29374.15, 32127.27, 32782.02, 31971.91, 33992.43.
|
[Bitcoin Technical Analysis for 2021-01-05]
Volume: 67547324782, RSI (14-day): 84.81, 50-day EMA: 22964.08, 200-day EMA: 15639.40
[Wider Market Context]
Gold Price: 1952.70, Gold RSI: 71.03
Oil Price: 49.93, Oil RSI: 67.01
[Recent News (last 7 days)]
Jim Cramer Treating Bitcoin Like Stock, Sold Cost Basis After Valuation Doubled: Jim Cramer wasinterviewedby Katherine Ross to share early predictions for 2021. Part of the conversation centered on Cramer’s take onBitcoin, one of the hottest stories of 2020.
Cramer on Bitcoin:Cramer told Ross he plans on holding his remaining portion of Bitcoin.
“I bought it more as an asset than a trade,” Cramer said.
The CNBC host bought bitcoin after appearing on aSeptember podcastwithAnthony Pompliano. The cryptocurrency was trading at around $10,000 when Cramer appeared on the podcast.
Cramer’s bitcoin more than doubled since he made his purchase around $14,000. As he does with stocks, Cramer said his rule is to take out the cost basis when a stock doubled.
Related Link:8 Stocks To Play Bitcoin's Resurgence
“I’m not doing anything I wouldn’t do with a stock.” Cramer has sold off almost his entire cost basis and is letting the rest run. “I’m gonna say hold on.”
Cramer cautioned that Bitcoin may have gone from being a currency to a speculative object. He said he would consider adding more to his position if Bitcoin fell to the $14,000 or even the $18,000 range.
Bitcoin Price Action:Bitcoin trades around $31,083 at publication time. The cryptohit new all-time highsover the weekend with the price soaring to $34,000.
TheGrayscale Bitcoin Trust(OTC:GBTC) was up 10% to $35.08 on Monday.
See more from Benzinga
• Click here for options trades from Benzinga
• Why NFL Player Russell Okung Takes Half His Salary In Bitcoin
• Warren Buffett Called Bitcoin 'Rat Poison' — Now It's Closing In On Berkshire Hathaway's Valuation
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Jim Cramer Treating Bitcoin Like Stock, Sold Cost Basis After Valuation Doubled: Jim Cramer wasinterviewedby Katherine Ross to share early predictions for 2021. Part of the conversation centered on Cramer’s take onBitcoin, one of the hottest stories of 2020.
Cramer on Bitcoin:Cramer told Ross he plans on holding his remaining portion of Bitcoin.
“I bought it more as an asset than a trade,” Cramer said.
The CNBC host bought bitcoin after appearing on aSeptember podcastwithAnthony Pompliano. The cryptocurrency was trading at around $10,000 when Cramer appeared on the podcast.
Cramer’s bitcoin more than doubled since he made his purchase around $14,000. As he does with stocks, Cramer said his rule is to take out the cost basis when a stock doubled.
Related Link:8 Stocks To Play Bitcoin's Resurgence
“I’m not doing anything I wouldn’t do with a stock.” Cramer has sold off almost his entire cost basis and is letting the rest run. “I’m gonna say hold on.”
Cramer cautioned that Bitcoin may have gone from being a currency to a speculative object. He said he would consider adding more to his position if Bitcoin fell to the $14,000 or even the $18,000 range.
Bitcoin Price Action:Bitcoin trades around $31,083 at publication time. The cryptohit new all-time highsover the weekend with the price soaring to $34,000.
TheGrayscale Bitcoin Trust(OTC:GBTC) was up 10% to $35.08 on Monday.
See more from Benzinga
• Click here for options trades from Benzinga
• Why NFL Player Russell Okung Takes Half His Salary In Bitcoin
• Warren Buffett Called Bitcoin 'Rat Poison' — Now It's Closing In On Berkshire Hathaway's Valuation
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Jim Cramer Treating Bitcoin Like Stock, Sold Cost Basis After Valuation Doubled: Jim Cramer was interviewed by Katherine Ross to share early predictions for 2021. Part of the conversation centered on Cramer’s take on Bitcoin , one of the hottest stories of 2020. Cramer on Bitcoin: Cramer told Ross he plans on holding his remaining portion of Bitcoin. “I bought it more as an asset than a trade,” Cramer said. The CNBC host bought bitcoin after appearing on a September podcast with Anthony Pompliano . The cryptocurrency was trading at around $10,000 when Cramer appeared on the podcast. Cramer’s bitcoin more than doubled since he made his purchase around $14,000. As he does with stocks, Cramer said his rule is to take out the cost basis when a stock doubled. Related Link: 8 Stocks To Play Bitcoin's Resurgence “I’m not doing anything I wouldn’t do with a stock.” Cramer has sold off almost his entire cost basis and is letting the rest run. “I’m gonna say hold on.” Cramer cautioned that Bitcoin may have gone from being a currency to a speculative object. He said he would consider adding more to his position if Bitcoin fell to the $14,000 or even the $18,000 range. Bitcoin Price Action: Bitcoin trades around $31,083 at publication time. The crypto hit new all-time highs over the weekend with the price soaring to $34,000. The Grayscale Bitcoin Trust (OTC: GBTC ) was up 10% to $35.08 on Monday. See more from Benzinga Click here for options trades from Benzinga Why NFL Player Russell Okung Takes Half His Salary In Bitcoin Warren Buffett Called Bitcoin 'Rat Poison' — Now It's Closing In On Berkshire Hathaway's Valuation © 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Buffett, Bezos and Dimon Part Ways on Health Care Joint Venture: - By John Engle In January 2018, Berkshire Hathaway (NYSE:BRK.A)(NYSE:BRK.B), Amazon.com Inc. (NASDAQ:AMZN) and JPMorgan Chase & Co. (NYSE:JPM) announced the formation of a new not-for-profit joint venture aimed at disrupting the $3.5 trillion health care industry. Originally nameless, the joint venture was dubbed Haven in March 2019. Despite debuting with great promise, Haven struggled to live up to the hype. On Jan. 4, the organization announced it will be shut down. Warning! GuruFocus has detected 5 Warning Sign with BRK.A. Click here to check it out. BRK.A 15-Year Financial Data The intrinsic value of BRK.A Peter Lynch Chart of BRK.A Dream team breaks up Between Berkshire's unparalleled operational expertise, Amazon's record as a peerless industry disruptor and JPMorgan's status as a financial powerhouse, Haven began life with serious clout behind it. Warren Buffett ( Trades , Portfolio ), Jeff Bezos and Jamie Dimon were all vocal champions of the venture from the start, demonstrating support at the highest echelons of each partner organization. As one might reasonably expect from such a credible threat of industry disruption, the share prices of major health care and pharmacy companies initially recoiled at the announcement. But as it turned out, while a dream team on paper, this did not work in practice. According to CNBC, this problem dogged Haven right up to the end : "One key issue facing Haven was that while the firm came up with ideas, each of the three founding companies executed their own projects separately with their own employees, obviating the need for the joint venture to begin with, according to the people, who declined to be identified speaking about the matter." Apparently, Haven's backers struggled to collaborate effectively in practice. However, in an email following the shutdown announcement, Haven spokesperson Brooke Thurston sought to paint a slightly brighter picture, both of the organization's work to date and its hopes for the future: "The Haven team made good progress exploring a wide range of healthcare solutions, as well as piloting new ways to make primary care easier to access, insurance benefits simpler to understand and easier to use, and prescription drugs more affordable. Moving forward, Amazon, Berkshire Hathaway, and JPMorgan Chase & Co. will leverage these insights and continue to collaborate informally to design programs tailored to address the specific needs of our individual employee populations and locations." Disruption not guaranteed While many observers may be disappointed at Haven's closure after just three years, it is worth noting that the challenge it sought to solve, runaway health care costs, is a massive and growing problem. It was always going to be a profound challenge, even for the likes of Berkshire, Amazon and JPMorgan. Story continues To their credit, Haven's backers were open with the public about the scope of the challenge. Indeed, even while vocally championing and promoting the venture, they advised patience and caution. Even in the January 2018 launch announcement, Bezos did not blanch at hammering this point home: "The healthcare system is complex, and we enter into this challenge open-eyed about the degree of difficulty. Hard as it might be, reducing healthcare's burden on the economy while improving outcomes for employees and their families would be worth the effort." Buffett was also keen to point out that, while the Haven partners might have a better shot than anyone else at transforming health care, it was still a tall order. He said as much in an interview in May 2019: "It is going to be a long, tough pull to make major changes. It has no guarantee of success at all, but there's nobody I think that's in a better position, in terms of number of employees, ability of the people that are partnering to get along and all kinds of things, to perhaps come up with something to make the system more efficient...We'll try, but nothing will happen quicker, so there is no revolutionary move or anything of the sort. And there will be lots of opposition to any change." What comes next In 2019, Buffett characterized Haven's founding as the "first step on what is bound to be a very long journey." At the same time, he pledged to contribute "whatever money it takes" to the venture should it show signs of traction. With Haven now defunct, it remains to be seen whether Berkshire will continue to pursue health care system disruption, either alone or with other partners. Regardless of Buffett's eventual decision, Amazon, which has been building out health care and pharmacy capabilities independently, is unlikely to slow down in the absence of the joint venture. At the same time, however, it is not clear whether Amazon will attempt anything as sweeping or grandiose as Haven envisioned. For the time being, it appears that health care incumbents can breathe a sigh of relief. Disclosure: No positions. Read more here: Airlines Need More Bailouts to Avoid High Bankruptcy Risk Charlie Munger: Avoid Bitcoin Like Poison Airline Bailout 2.0: Still Generous, but More Strings Attached Not a Premium Member of GuruFocus? Sign up for a free 7-day trial here . This article first appeared on GuruFocus . View comments || Buffett, Bezos and Dimon Part Ways on Health Care Joint Venture: - By John Engle
In January 2018, Berkshire Hathaway (NYSE:BRK.A)(NYSE:BRK.B), Amazon.com Inc. (NASDAQ:AMZN) and JPMorgan Chase & Co. (NYSE:JPM) announced the formation of a new not-for-profit joint venture aimed at disrupting the $3.5 trillion health care industry. Originally nameless, the joint venture was dubbed Haven in March 2019.
Despite debuting with great promise, Haven struggled to live up to the hype. On Jan. 4, the organization announced it will be shut down.
• Warning! GuruFocus has detected 5 Warning Sign with BRK.A. Click here to check it out.
• BRK.A 15-Year Financial Data
• The intrinsic value of BRK.A
• Peter Lynch Chart of BRK.A
Dream team breaks up
Between Berkshire's unparalleled operational expertise, Amazon's record as a peerless industry disruptor and JPMorgan's status as a financial powerhouse, Haven began life with serious clout behind it.Warren Buffett(Trades,Portfolio), Jeff Bezos and Jamie Dimon were all vocal champions of the venture from the start, demonstrating support at the highest echelons of each partner organization.
As one might reasonably expect from such a credible threat of industry disruption, the share prices of major health care and pharmacy companies initially recoiled at the announcement. But as it turned out, while a dream team on paper, this did not work in practice. According to CNBC, this problemdogged Haven right up to the end:
Apparently, Haven's backers struggled to collaborate effectively in practice. However, in an email following the shutdown announcement, Haven spokesperson Brooke Thurston sought to paint a slightly brighter picture, both of the organization's work to date and its hopes for the future:
Disruption not guaranteed
While many observers may be disappointed at Haven's closure after just three years, it is worth noting that the challenge it sought to solve, runaway health care costs, is a massive and growing problem. It was always going to be a profound challenge, even for the likes of Berkshire, Amazon and JPMorgan.
To their credit, Haven's backers were open with the public about the scope of the challenge. Indeed, even while vocally championing and promoting the venture, they advised patience and caution. Even in the January 2018 launch announcement, Bezos did not blanch at hammering this point home:
Buffett was also keen to point out that, while the Haven partners might have a better shot than anyone else at transforming health care, it was still a tall order. Hesaid as muchin an interview in May 2019:
What comes next
In 2019, Buffett characterized Haven's founding as the "first step on what is bound to be a very long journey." At the same time, he pledged to contribute "whatever money it takes" to the venture should it show signs of traction. With Haven now defunct, it remains to be seen whether Berkshire will continue to pursue health care system disruption, either alone or with other partners.
Regardless of Buffett's eventual decision, Amazon, which has been building out health care and pharmacy capabilities independently, is unlikely to slow down in the absence of the joint venture. At the same time, however, it is not clear whether Amazon will attempt anything as sweeping or grandiose as Haven envisioned.
For the time being, it appears that health care incumbents can breathe a sigh of relief.
Disclosure: No positions.
Read more here:
• Airlines Need More Bailouts to Avoid High Bankruptcy Risk
• Charlie Munger: Avoid Bitcoin Like Poison
• Airline Bailout 2.0: Still Generous, but More Strings Attached
Not a Premium Member of GuruFocus? Sign up for afree 7-day trial here.
This article first appeared onGuruFocus. || Winning With WCLD In 2021: How Cloud Computing Stocks Can Deliver More Upside: In 2020, the technology sector was hot, but many cloud computing equities were simply scintillating, a theme that's still in its early innings.
What Happened: For investors that like the idea of cloud exposure, but don't like the idea of stock picking in this segment, there are three dedicated exchange traded funds to consider, all of which delivered impressive 2020 performances.
To put those showings into context, the worst-performing cloud ETF gained almost 58%, but in a case of differences between ETFs that appear similar proving meaningful, theWisdomTree Cloud Computing Fund(NASDAQ: WCLCD) gained almost 110% last year. That's good for one of the best returns among all non-leveraged ETFs,thematic or otherwise.
Why It's Important: WCLD, which debuted in September 2019, tracks the BVP Nasdaq Emerging Cloud Index. The “BVP” stands for Bessemer Venture Partners, a firm with expertise in cloud investing and public cloud benchmarks.
“Technology is increasingly driving globalGDPand software is the fastest growing segment of technology,” write Byron Deeter and Mary D’Onofrio of Bessemer.
“Within software, the growth of cloud is moving at an impressive clip; it’s becoming abundantly clear that cloud computing will become a majority of enterprise software by 2025, and the vast majority of all software by 2030. Simply put, cloud computing is increasingly consuming software, hardware, and services and is therefore the most exciting mega-trend in technology, making it one of the most compelling themes impacting global GDP over the coming years.”
AsWisdomTree points out, Bessemer coined a new investing acronym, one that could rival or supplant FAANG: MT SAAS.
That's forMicrosoft(NASDAQ:MSFT),Twilio(NYSE:TWLO),Salesforce(NYSE:CRM),Amazon(NASDAQ:AMZN),Adobe(NASDAQ:ADBE) andShopify(NYSE:SHOP).
In alphabetical order, Adobe, the Dow component Salesforce, Shopify and Twilio are members of the WCLD roster.
What's Next: The inclusion of those names in WCLD is relevant for myriad reasons, including revenue growth. To enter WCLD's index, new components must have revenue growth of 15% in each of the prior two fiscal years and to stay in the benchmark, a company must have a minimum of 7% top line growth in one of the past two years.
And no, lacking Amazon and Microsoft exposure doesn't harm WCLD's long-term prospects.
“MT SAAS is a mix of application (CRM, ADBE, SHOP) and infrastructure (MSFT, TWLO, AMZN) companies, incumbent giants (MSFT, AMZN) and hypergrowth challengers (CRM, ADBE, SHOP, TWLO), all sharing the same characteristics of cloud delivery models, cloud business models, high growth, and compelling long-term margin potential,” notes Bessemer.
See more from Benzinga
• Click here for options trades from Benzinga
• Betting On BETZ As New Year Rapidly Brings Sports Betting Consolidation Rumors
• Bitcoin Surge Renews Enthusiasm For Blockchain ETF
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Winning With WCLD In 2021: How Cloud Computing Stocks Can Deliver More Upside: In 2020, the technology sector was hot, but many cloud computing equities were simply scintillating, a theme that's still in its early innings. What Happened : For investors that like the idea of cloud exposure, but don't like the idea of stock picking in this segment, there are three dedicated exchange traded funds to consider, all of which delivered impressive 2020 performances. To put those showings into context, the worst-performing cloud ETF gained almost 58%, but in a case of differences between ETFs that appear similar proving meaningful, the WisdomTree Cloud Computing Fund (NASDAQ: WCLCD) gained almost 110% last year. That's good for one of the best returns among all non-leveraged ETFs, thematic or otherwise . Why It's Important : WCLD, which debuted in September 2019, tracks the BVP Nasdaq Emerging Cloud Index. The BVP stands for Bessemer Venture Partners, a firm with expertise in cloud investing and public cloud benchmarks. Technology is increasingly driving global GDP and software is the fastest growing segment of technology, write Byron Deeter and Mary DOnofrio of Bessemer. Within software, the growth of cloud is moving at an impressive clip; its becoming abundantly clear that cloud computing will become a majority of enterprise software by 2025, and the vast majority of all software by 2030. Simply put, cloud computing is increasingly consuming software, hardware, and services and is therefore the most exciting mega-trend in technology, making it one of the most compelling themes impacting global GDP over the coming years. As WisdomTree points out , Bessemer coined a new investing acronym, one that could rival or supplant FAANG: MT SAAS. That's for Microsoft (NASDAQ: MSFT ), Twilio (NYSE: TWLO ), Salesforce (NYSE: CRM ), Amazon (NASDAQ: AMZN ), Adobe (NASDAQ: ADBE ) and Shopify (NYSE: SHOP ). In alphabetical order, Adobe, the Dow component Salesforce, Shopify and Twilio are members of the WCLD roster. Story continues What's Next : The inclusion of those names in WCLD is relevant for myriad reasons, including revenue growth. To enter WCLD's index, new components must have revenue growth of 15% in each of the prior two fiscal years and to stay in the benchmark, a company must have a minimum of 7% top line growth in one of the past two years. And no, lacking Amazon and Microsoft exposure doesn't harm WCLD's long-term prospects. MT SAAS is a mix of application (CRM, ADBE, SHOP) and infrastructure (MSFT, TWLO, AMZN) companies, incumbent giants (MSFT, AMZN) and hypergrowth challengers (CRM, ADBE, SHOP, TWLO), all sharing the same characteristics of cloud delivery models, cloud business models, high growth, and compelling long-term margin potential, notes Bessemer. See more from Benzinga Click here for options trades from Benzinga Betting On BETZ As New Year Rapidly Brings Sports Betting Consolidation Rumors Bitcoin Surge Renews Enthusiasm For Blockchain ETF © 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || ETF Edge: ETF Themes To Watch In 2021: This article was originally published onETFTrends.com.
Starting this new year on "ETF Edge," ETF Trends CIO and Director of Research, Dave Nadig, joins host Bob Pisani, and Harry Whitton, Head of ETF Sales Trading for Old Mission, to go over ESG inflows in thematic ETFs in 2020, and how that will affect things going forward in 2021.
Nadig starts by explaining how 2020 was a record year, with over $500 billion in new money flowing into the ETF industry and over 300 new funds for investors to trade in -- general thematic or actively managed funds, if not something ESG-related. That said, there are steps to take next.
He continues, "I do think folks are a little more concerned about risk management. But, thematic ETFs are, for sure, here to stay. We've all seen this K-shaped recovery, and how it's really nominated winners and losers in the market, and investors and advisories are out there trying to really find those winners."
Turning to Whitton, who is asked about the trends for active non-transparent ETFs and the conversion of mutual funds into ETFs, he states how things went from zero to 20 non-transparent funds by the end of 2020, and 2021 is only going to see a greater increase.
As far as conversion, Whitton notes how multiple firms, including Dimensional, are going through this process on a number of mutual funds. Dimensional, in particular, is going to change 6 funds with over $20 billion in assets.
"This has a lot of potential in the marketplace to see many assets being moved quickly," Whitton explains.
He continues, "They were telling people actively, they should move their mutual fund share class to the ETF share class. They have a little bit different structure than a traditional ETF, and that's what they're doing."
When considering how significant this conversion process could be as far as the effect on ETF inflows, Whitton sees there is a chance of this being huge. Not in retirement plans, but other assets will have a lot of wealth to share around.
https://www.youtube.com/watch?v=nFyyRd4_QTY
For more market trends, visitETF Trends.
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READ MORE AT ETFTRENDS.COM > || ETF Edge: ETF Themes To Watch In 2021: This article was originally published on ETFTrends.com. Starting this new year on "ETF Edge," ETF Trends CIO and Director of Research, Dave Nadig, joins host Bob Pisani, and Harry Whitton, Head of ETF Sales Trading for Old Mission, to go over ESG inflows in thematic ETFs in 2020, and how that will affect things going forward in 2021. Nadig starts by explaining how 2020 was a record year, with over $500 billion in new money flowing into the ETF industry and over 300 new funds for investors to trade in -- general thematic or actively managed funds, if not something ESG-related. That said, there are steps to take next. He continues, "I do think folks are a little more concerned about risk management. But, thematic ETFs are, for sure, here to stay. We've all seen this K-shaped recovery, and how it's really nominated winners and losers in the market, and investors and advisories are out there trying to really find those winners." Accounting For Conversion Turning to Whitton, who is asked about the trends for active non-transparent ETFs and the conversion of mutual funds into ETFs, he states how things went from zero to 20 non-transparent funds by the end of 2020, and 2021 is only going to see a greater increase. As far as conversion, Whitton notes how multiple firms, including Dimensional, are going through this process on a number of mutual funds. Dimensional, in particular, is going to change 6 funds with over $20 billion in assets. "This has a lot of potential in the marketplace to see many assets being moved quickly," Whitton explains. He continues, "They were telling people actively, they should move their mutual fund share class to the ETF share class. They have a little bit different structure than a traditional ETF, and that's what they're doing." When considering how significant this conversion process could be as far as the effect on ETF inflows, Whitton sees there is a chance of this being huge. Not in retirement plans, but other assets will have a lot of wealth to share around. Watch Dave Nadig And Harry Whitton Discuss ETF Themes For 2021: https://www.youtube.com/watch?v=nFyyRd4_QTY For more market trends, visit ETF Trends . POPULAR ARTICLES AND RESOURCES FROM ETFTRENDS.COM SPY ETF Quote VOO ETF Quote QQQ ETF Quote VTI ETF Quote JNUG ETF Quote Top 34 Gold ETFs Top 34 Oil ETFs Top 57 Financials ETFs Cotton ETN Rallying on Supply Issues 7 Misconceptions About Bitcoin 2021 Bond Outlook: Will an Uneven Recovery Make Credit Research Even More Important? Moderna Helps Biotech ETFs Mitigate Massive Losses as Stocks Tumble Stock ETFs Struggle on First Trading Day of 2021 READ MORE AT ETFTRENDS.COM > View comments || Stock Market Today: Stocks Stumble Out of the Blocks to Start 2021: Investors wouldn't have been blamed for wondering, if even only for a moment, whether they had too eagerly kissed 2020 goodbye. The 2021 trading year got off to an inauspicious start, with the major indices lurching lower Monday amid peaking political uncertainty and continued COVID-related pressures. SEE MORE The 21 Best Stocks to Buy for 2021 "Investors are feeling antsy this week," says Lindsey Bell, chief investment strategist for Ally Invest. "COVID cases continue to spike, with a new variant of the virus spreading across the globe. Tomorrow's runoff races in Georgia could decide the makeup of the Senate, and the market generally has performed better in a split Congress (the situation we have now)." She points out that the CBOE Volatility Index (VIX) spiked above 28 today – "a level not seen since the presidential election in November." By lunchtime, the Dow Jones Industrial Average had slumped by as much as 724 points (-2.4%) to below the 30,000 mark. While it climbed from its lows, the industrial average still suffered a 382-point (1.3%) tumble to 30,223. The Dow was weighed down most by Boeing ( BA , -5.3%), the average's worst stock in 2020 , and Coca-Cola ( KO , -3.8%). Other action in the stock market today: The S&P 500 closed 1.5% lower to 3,700. The Nasdaq Composite suffered a similar decline to 12,698. The small-cap Russell 2000 also slipped 1.5% to finish Monday at 1,945. U.S. crude oil futures slid by 1.9% to $47.62 per barrel. Gold futures jumped 2.7% to $1,946.60 per ounce. Tesla ( TSLA ) bucked the market trend, gaining 3.4% after reporting record Q4 vehicle deliveries and hitting nearly half a million deliveries across 2020. The company momentarily eclipsed $700 billion in market value Monday. Bitcoin , which closed out 2020 around $29,000, hit $34,810 over the weekend before pulling back to $31,600 during Monday's trade. stock chart for 010421 SEE MORE Where to Invest in 2021 Don't Let Your Imagination Run Wild Yet Fortunately, Monday was just one trading day out of 252 this year. And, like in baseball, no one should sweat an 0-1 start. In fact, Bell points out that it's effectively a coin flip as to whether the stock market will finish the year up or down following a first-day decline. Bell also suggests that "selloffs like these could be a good opportunity to buy some stocks on your wish list or rebalance the investments you already have." Your head might naturally go to value stocks when thinking about dip-buying – especially when many analysts are preaching the gospel of value stocks . But ignore the better prices on growth stocks at your own peril. Many bullish value calls note that growth won't be stymied for too long, so you could do well to identify growth prospects worth snapping up amid turbulence before they recover later this year. Story continues Consider the following list of 11 tenacious growth stocks – companies whose revenues are stretching like weeds and who are getting much better at turning those sales into profits. They might take you on a bumpy ride early in 2021, but we like their chances to drive outsize portfolio gains for you down the road. Kyle Woodley was long BA and Bitcoin as of this writing. SEE MORE 21 Best Retirement Stocks for an Income-Rich 2021 View comments || Stock Market Today: Stocks Stumble Out of the Blocks to Start 2021: Investors wouldn't have been blamed for wondering, if even only for a moment, whether they had too eagerly kissed 2020 goodbye. The 2021 trading year got off to an inauspicious start, with the major indices lurching lower Monday amid peaking political uncertainty and continued COVID-related pressures. SEE MORE The 21 Best Stocks to Buy for 2021 "Investors are feeling antsy this week," says Lindsey Bell, chief investment strategist for Ally Invest. "COVID cases continue to spike, with a new variant of the virus spreading across the globe. Tomorrow's runoff races in Georgia could decide the makeup of the Senate, and the market generally has performed better in a split Congress (the situation we have now)." She points out that the CBOE Volatility Index (VIX) spiked above 28 today – "a level not seen since the presidential election in November." By lunchtime, the Dow Jones Industrial Average had slumped by as much as 724 points (-2.4%) to below the 30,000 mark. While it climbed from its lows, the industrial average still suffered a 382-point (1.3%) tumble to 30,223. The Dow was weighed down most by Boeing ( BA , -5.3%), the average's worst stock in 2020 , and Coca-Cola ( KO , -3.8%). Other action in the stock market today: The S&P 500 closed 1.5% lower to 3,700. The Nasdaq Composite suffered a similar decline to 12,698. The small-cap Russell 2000 also slipped 1.5% to finish Monday at 1,945. U.S. crude oil futures slid by 1.9% to $47.62 per barrel. Gold futures jumped 2.7% to $1,946.60 per ounce. Tesla ( TSLA ) bucked the market trend, gaining 3.4% after reporting record Q4 vehicle deliveries and hitting nearly half a million deliveries across 2020. The company momentarily eclipsed $700 billion in market value Monday. Bitcoin , which closed out 2020 around $29,000, hit $34,810 over the weekend before pulling back to $31,600 during Monday's trade. stock chart for 010421 SEE MORE Where to Invest in 2021 Don't Let Your Imagination Run Wild Yet Fortunately, Monday was just one trading day out of 252 this year. And, like in baseball, no one should sweat an 0-1 start. In fact, Bell points out that it's effectively a coin flip as to whether the stock market will finish the year up or down following a first-day decline. Bell also suggests that "selloffs like these could be a good opportunity to buy some stocks on your wish list or rebalance the investments you already have." Your head might naturally go to value stocks when thinking about dip-buying – especially when many analysts are preaching the gospel of value stocks . But ignore the better prices on growth stocks at your own peril. Many bullish value calls note that growth won't be stymied for too long, so you could do well to identify growth prospects worth snapping up amid turbulence before they recover later this year. Story continues Consider the following list of 11 tenacious growth stocks – companies whose revenues are stretching like weeds and who are getting much better at turning those sales into profits. They might take you on a bumpy ride early in 2021, but we like their chances to drive outsize portfolio gains for you down the road. Kyle Woodley was long BA and Bitcoin as of this writing. SEE MORE 21 Best Retirement Stocks for an Income-Rich 2021 View comments || SkyBridge’s Bitcoin Cache Rises to $310M as New Fund Launches: Skybridge Capital, the hedge-fund investing firm headed by Anthony Scaramucci, confirmed its launch of a new bitcoin fund Monday and said its exposure to bitcoin has already reached $310 million.
• The announcement, made in apress release, comes a week after CoinDesk reported on the fund’s launch, citing a marketing brochure that was circulating among investors.
• At that point, the firm’s investment across funds investing inbitcoinstood at$182 million.
• According to a SkyBridge spokeswoman, the increase in the position was mostly due to market appreciation, with a small amount of additional purchases.
• “With global money printing at an all-time high, bitcoin offers a strong alternative to gold as a store of value and hedge against future inflation,” Ray Nolte, SkyBridge’s co-chief investment officer, said in the press release.
Read More:SkyBridge Capital Has Already Invested $182M in Bitcoin
• SkyBridge’s Bitcoin Cache Rises to $310M as New Fund Launches
• SkyBridge’s Bitcoin Cache Rises to $310M as New Fund Launches
• SkyBridge’s Bitcoin Cache Rises to $310M as New Fund Launches
• SkyBridge’s Bitcoin Cache Rises to $310M as New Fund Launches || SkyBridge’s Bitcoin Cache Rises to $310M as New Fund Launches: Skybridge Capital, the hedge-fund investing firm headed by Anthony Scaramucci, confirmed its launch of a new bitcoin fund Monday and said its exposure to bitcoin has already reached $310 million.
• The announcement, made in apress release, comes a week after CoinDesk reported on the fund’s launch, citing a marketing brochure that was circulating among investors.
• At that point, the firm’s investment across funds investing inbitcoinstood at$182 million.
• According to a SkyBridge spokeswoman, the increase in the position was mostly due to market appreciation, with a small amount of additional purchases.
• “With global money printing at an all-time high, bitcoin offers a strong alternative to gold as a store of value and hedge against future inflation,” Ray Nolte, SkyBridge’s co-chief investment officer, said in the press release.
Read More:SkyBridge Capital Has Already Invested $182M in Bitcoin
• SkyBridge’s Bitcoin Cache Rises to $310M as New Fund Launches
• SkyBridge’s Bitcoin Cache Rises to $310M as New Fund Launches
• SkyBridge’s Bitcoin Cache Rises to $310M as New Fund Launches
• SkyBridge’s Bitcoin Cache Rises to $310M as New Fund Launches || SkyBridges Bitcoin Cache Rises to $310M as New Fund Launches: Skybridge Capital, the hedge-fund investing firm headed by Anthony Scaramucci, confirmed its launch of a new bitcoin fund Monday and said its exposure to bitcoin has already reached $310 million. The announcement, made in a press release , comes a week after CoinDesk reported on the funds launch, citing a marketing brochure that was circulating among investors. At that point, the firms investment across funds investing in bitcoin stood at $182 million . According to a SkyBridge spokeswoman, the increase in the position was mostly due to market appreciation, with a small amount of additional purchases. With global money printing at an all-time high, bitcoin offers a strong alternative to gold as a store of value and hedge against future inflation, Ray Nolte, SkyBridges co-chief investment officer, said in the press release. Read More: SkyBridge Capital Has Already Invested $182M in Bitcoin Related Stories SkyBridges Bitcoin Cache Rises to $310M as New Fund Launches SkyBridges Bitcoin Cache Rises to $310M as New Fund Launches SkyBridges Bitcoin Cache Rises to $310M as New Fund Launches SkyBridges Bitcoin Cache Rises to $310M as New Fund Launches || Market Wrap: Bitcoin Briefly Drops Close to $28K as Ether Futures Heat Up: Over-leveraged bitcoin investors in the derivatives market led to Monday’s sell-off while ether spot and futures markets are starting to get a lot more attention. Bitcoin (BTC) trading around $31,444 as of 21:00 UTC (4 p.m. ET). Slipping 5.7% over the previous 24 hours. Bitcoin’s 24-hour range: $28,154-$33,562 (CoinDesk 20) BTC slightly below its 10-hour and well below the 50-hour moving average on the hourly chart, a bearish-to-sideways signal for market technicians. The price of bitcoin fell Monday, met by a spate of selling pressure. Around 10:00 UTC (5 a.m. ET), spot exchanges like Coinbase saw a larger-than-normal number of traders hitting sell, with 6,000 BTC in volume on the exchange during that hour. Prices dropped as low as $28,154, according to CoinDesk 20 data. Read More: Bitcoin Suddenly Drops 13% as Altcoins Continue to Rise Related: Bitcoin Retail FOMO Brings a Heap of 'Kimchi Premium' to S. Korea “A lot of folks are now taking a profit after rapid growth in price,” said Constatin Kogan, managing partner at crypto investment firm Wave Financial. Indeed, bitcoin crossed $34,000 and hit an all-time record high of $34,366 on Jan. 2, according to CoinDesk 20 data. Analysts are seeing many investors realize some gains after such a rapid rise. “Over the weekend, as bitcoin prices hit fresh all-time highs, markets touched new levels of resistance,” said Jason Lau, chief operating officer of San Francisco-based exchange OKCoin. “Profit-taking occurred around these levels, resulting in some sideways trading and causing many to be over-leveraged long on futures.” During the 10:00 UTC (5 a.m. ET) period of higher-than-normal selling Monday, derivatives exchange BitMEX saw $10 million in liquidations, the crypto comparable to a margin call on over-leveraged bullish bets. In total, $135 million in sell liquidations occurred on BitMEX over the past day, far outweighing the $34 million in buy liquidations from traders going short. This indicates some exhaustion of what has been a hyper-bullish market until Monday. Story continues Related: First Mover: As Bitcoin Rally Pauses, DeFi Keeps Astounding Nonetheless, Lau still expects buying pressure to keep bitcoin’s price up. ”These dips are being bought up pretty quickly, reinforcing the narrative that there are underlying bids by institutions keen to access bitcoin,” he told CoinDesk. Some profit-taking is likely going from bitcoin into ether. Since Jan. 3, ether has exploded and is now up 38.5% in 2021 while the price per 1 BTC has appreciated 7.5% thus far in 2021. “Traders rotated assets from BTC into alts to gain higher returns,” said Lau, who refers to ether as one of the “alts,” or alternative cryptocurrencies. “This is evident as [ether] gained over bitcoin in the last 24 hours.” Wave Financial’s Kogan sees this rotation from bitcoin to other crypto assets as an impermanent condition. “Another interesting factor now is the alt season, so the demand slowly switches to other crypto assets. But in my opinion, this is temporary.” Ether futures open interest crests $2.6 billion The second-largest cryptocurrency by market capitalization, ether (ETH), was up Monday trading around $1,034 and climbing 10.4% in 24 hours as of 21:00 UTC (4:00 p.m. ET). Read More: Ether Price Passes $1,150 to Hit Highest Since January 2018 The ether futures market set a new record high Sunday, at $2.6 billion in open interest, or OI. Leading the way in OI is Binance with $632 million, followed by OKEx with $421 million and Huobi in third with $382 million. Futures interest in ether is rising because savvy investors want to start hedging lofty ether price levels, according John Willock, chief executive officer of crypto asset manager Tritum. “There is a strong natural inclination for some long-term ETH hodlers to finally sell at the numerically significant $1,000 threshold, where we have seen a lot of limit orders sitting on exchange books waiting to get filled,” Willock told CoinDesk. He also said institutional interest in ether is growing because CME is expected to launch ether futures next month and investors are currently looking for any way to access the ether futures market. “Institutions are able to put short pressure on these markets as many people will expect a near-term price correction after this monumental and fast run-up in blue-chip crypto instruments,” Willock added. Other markets Digital assets on the CoinDesk 20 are mostly green Monday. Notable winners as of 21:00 UTC (4:00 p.m. ET): stellar (XLM) + 20% omg network (OMG) + 16.1% ethereum classic + 9.6% Notable losers: algorand (ALGO) – 1.2% bitcoin cash (BCH) – 0.60% litecoin (LTC) – 0.10% Equities: Asia’s Nikkei 225 closed slipping 0.68% as government officials are considering declaring a state of emergency to block travel and stave off increasing coronavirus infections in Japan . The FTSE 100 in Europe ended the day jumping 1.7% as the U.K. started deploying a coronavirus vaccine developed by the University of Oxford and AstraZeneca . The S&P 500 in the United States fell 1.5% amid uncertainty surrounding the coronavirus and the Senate run-off election in Georgia on Tuesday . Read More: Ukraine Government Picks Stellar to Help Build National Digital Currency Commodities: Oil was down 1.8%. Price per barrel of West Texas Intermediate crude: $47.30. Gold was in the green 2.4% and at $1,943 as of press time. Treasurys: The 10-year U.S. Treasury bond yield climbed slightly Monday, at 0.920 and in the green 0.17%. Related Stories Market Wrap: Bitcoin Briefly Drops Close to $28K as Ether Futures Heat Up Market Wrap: Bitcoin Briefly Drops Close to $28K as Ether Futures Heat Up || Market Wrap: Bitcoin Briefly Drops Close to $28K as Ether Futures Heat Up: Over-leveraged bitcoin investors in the derivatives market led to Monday’s sell-off while ether spot and futures markets are starting to get a lot more attention.
• Bitcoin(BTC) trading around $31,444 as of 21:00 UTC (4 p.m. ET). Slipping 5.7% over the previous 24 hours.
• Bitcoin’s 24-hour range: $28,154-$33,562 (CoinDesk 20)
• BTC slightly below its 10-hour and well below the 50-hour moving average on the hourly chart, a bearish-to-sideways signal for market technicians.
The price of bitcoin fell Monday, met by a spate of selling pressure. Around 10:00 UTC (5 a.m. ET), spot exchanges like Coinbase saw a larger-than-normal number of traders hitting sell, with 6,000 BTC in volume on the exchange during that hour. Prices dropped as low as $28,154, according to CoinDesk 20 data.
Read More:Bitcoin Suddenly Drops 13% as Altcoins Continue to Rise
Related:Bitcoin Retail FOMO Brings a Heap of 'Kimchi Premium' to S. Korea
“A lot of folks are now taking a profit after rapid growth in price,” said Constatin Kogan, managing partner at crypto investment firm Wave Financial. Indeed,bitcoin crossed $34,000and hit an all-time record high of $34,366 on Jan. 2, according to CoinDesk 20 data. Analysts are seeing many investors realize some gains after such a rapid rise.
“Over the weekend, as bitcoin prices hit fresh all-time highs, markets touched new levels of resistance,” said Jason Lau, chief operating officer of San Francisco-based exchange OKCoin. “Profit-taking occurred around these levels, resulting in some sideways trading and causing many to be over-leveraged long on futures.”
During the 10:00 UTC (5 a.m. ET) period of higher-than-normal selling Monday, derivatives exchange BitMEX saw $10 million in liquidations, the crypto comparable to a margin call on over-leveraged bullish bets.
In total, $135 million in sell liquidations occurred on BitMEX over the past day, far outweighing the $34 million in buy liquidations from traders going short. This indicates some exhaustion of what has been a hyper-bullish market until Monday.
Related:First Mover: As Bitcoin Rally Pauses, DeFi Keeps Astounding
Nonetheless, Lau still expects buying pressure to keep bitcoin’s price up. ”These dips are being bought up pretty quickly, reinforcing the narrative that there are underlying bids by institutions keen to access bitcoin,” he told CoinDesk.
Some profit-taking is likely going from bitcoin into ether. Since Jan. 3, ether has exploded and is now up 38.5% in 2021 while the price per 1 BTC has appreciated 7.5% thus far in 2021.
“Traders rotated assets from BTC into alts to gain higher returns,” said Lau, who refers to ether as one of the “alts,” or alternative cryptocurrencies. “This is evident as [ether] gained over bitcoin in the last 24 hours.”
Wave Financial’s Kogan sees this rotation from bitcoin to other crypto assets as an impermanent condition. “Another interesting factor now is the alt season, so the demand slowly switches to other crypto assets. But in my opinion, this is temporary.”
The second-largest cryptocurrency by market capitalization,ether(ETH), was up Monday trading around $1,034 and climbing 10.4% in 24 hours as of 21:00 UTC (4:00 p.m. ET).
Read More:Ether Price Passes $1,150 to Hit Highest Since January 2018
The ether futures market set a new record high Sunday, at $2.6 billion in open interest, or OI. Leading the way in OI is Binance with $632 million, followed by OKEx with $421 million and Huobi in third with $382 million.
Futures interest in ether is rising because savvy investors want to start hedging lofty ether price levels, according John Willock, chief executive officer of crypto asset manager Tritum. “There is a strong natural inclination for some long-term ETHhodlersto finally sell at the numerically significant $1,000 threshold, where we have seen a lot of limit orders sitting on exchange books waiting to get filled,” Willock told CoinDesk.
He also said institutional interest in ether is growing becauseCME is expected to launch ether futures next monthand investors are currently looking for any way to access the ether futures market. “Institutions are able to put short pressure on these markets as many people will expect a near-term price correction after this monumental and fast run-up in blue-chip crypto instruments,” Willock added.
Digital assets on theCoinDesk 20are mostly green Monday. Notable winners as of 21:00 UTC (4:00 p.m. ET):
• stellar(XLM) + 20%
• omg network(OMG) + 16.1%
• ethereum classic+ 9.6%
Notable losers:
• algorand(ALGO) – 1.2%
• bitcoin cash(BCH) – 0.60%
• litecoin(LTC) – 0.10%
Equities:
• Asia’s Nikkei 225 closed slipping 0.68% asgovernment officials are considering declaring a state of emergency to block travel and stave off increasing coronavirus infections in Japan.
• The FTSE 100 in Europe ended the day jumping 1.7% asthe U.K. started deploying a coronavirus vaccine developed by the University of Oxford and AstraZeneca.
• The S&P 500 in the United States fell 1.5%amid uncertainty surrounding the coronavirus and the Senate run-off election in Georgia on Tuesday.
Read More:Ukraine Government Picks Stellar to Help Build National Digital Currency
Commodities:
• Oil was down 1.8%. Price per barrel of West Texas Intermediate crude: $47.30.
• Gold was in the green 2.4% and at $1,943 as of press time.
Treasurys:
• The 10-year U.S. Treasury bond yield climbed slightly Monday, at 0.920 and in the green 0.17%.
• Market Wrap: Bitcoin Briefly Drops Close to $28K as Ether Futures Heat Up
• Market Wrap: Bitcoin Briefly Drops Close to $28K as Ether Futures Heat Up || Market Wrap: Bitcoin Briefly Drops Close to $28K as Ether Futures Heat Up: Over-leveraged bitcoin investors in the derivatives market led to Monday’s sell-off while ether spot and futures markets are starting to get a lot more attention.
• Bitcoin(BTC) trading around $31,444 as of 21:00 UTC (4 p.m. ET). Slipping 5.7% over the previous 24 hours.
• Bitcoin’s 24-hour range: $28,154-$33,562 (CoinDesk 20)
• BTC slightly below its 10-hour and well below the 50-hour moving average on the hourly chart, a bearish-to-sideways signal for market technicians.
The price of bitcoin fell Monday, met by a spate of selling pressure. Around 10:00 UTC (5 a.m. ET), spot exchanges like Coinbase saw a larger-than-normal number of traders hitting sell, with 6,000 BTC in volume on the exchange during that hour. Prices dropped as low as $28,154, according to CoinDesk 20 data.
Read More:Bitcoin Suddenly Drops 13% as Altcoins Continue to Rise
Related:Bitcoin Retail FOMO Brings a Heap of 'Kimchi Premium' to S. Korea
“A lot of folks are now taking a profit after rapid growth in price,” said Constatin Kogan, managing partner at crypto investment firm Wave Financial. Indeed,bitcoin crossed $34,000and hit an all-time record high of $34,366 on Jan. 2, according to CoinDesk 20 data. Analysts are seeing many investors realize some gains after such a rapid rise.
“Over the weekend, as bitcoin prices hit fresh all-time highs, markets touched new levels of resistance,” said Jason Lau, chief operating officer of San Francisco-based exchange OKCoin. “Profit-taking occurred around these levels, resulting in some sideways trading and causing many to be over-leveraged long on futures.”
During the 10:00 UTC (5 a.m. ET) period of higher-than-normal selling Monday, derivatives exchange BitMEX saw $10 million in liquidations, the crypto comparable to a margin call on over-leveraged bullish bets.
In total, $135 million in sell liquidations occurred on BitMEX over the past day, far outweighing the $34 million in buy liquidations from traders going short. This indicates some exhaustion of what has been a hyper-bullish market until Monday.
Related:First Mover: As Bitcoin Rally Pauses, DeFi Keeps Astounding
Nonetheless, Lau still expects buying pressure to keep bitcoin’s price up. ”These dips are being bought up pretty quickly, reinforcing the narrative that there are underlying bids by institutions keen to access bitcoin,” he told CoinDesk.
Some profit-taking is likely going from bitcoin into ether. Since Jan. 3, ether has exploded and is now up 38.5% in 2021 while the price per 1 BTC has appreciated 7.5% thus far in 2021.
“Traders rotated assets from BTC into alts to gain higher returns,” said Lau, who refers to ether as one of the “alts,” or alternative cryptocurrencies. “This is evident as [ether] gained over bitcoin in the last 24 hours.”
Wave Financial’s Kogan sees this rotation from bitcoin to other crypto assets as an impermanent condition. “Another interesting factor now is the alt season, so the demand slowly switches to other crypto assets. But in my opinion, this is temporary.”
The second-largest cryptocurrency by market capitalization,ether(ETH), was up Monday trading around $1,034 and climbing 10.4% in 24 hours as of 21:00 UTC (4:00 p.m. ET).
Read More:Ether Price Passes $1,150 to Hit Highest Since January 2018
The ether futures market set a new record high Sunday, at $2.6 billion in open interest, or OI. Leading the way in OI is Binance with $632 million, followed by OKEx with $421 million and Huobi in third with $382 million.
Futures interest in ether is rising because savvy investors want to start hedging lofty ether price levels, according John Willock, chief executive officer of crypto asset manager Tritum. “There is a strong natural inclination for some long-term ETHhodlersto finally sell at the numerically significant $1,000 threshold, where we have seen a lot of limit orders sitting on exchange books waiting to get filled,” Willock told CoinDesk.
He also said institutional interest in ether is growing becauseCME is expected to launch ether futures next monthand investors are currently looking for any way to access the ether futures market. “Institutions are able to put short pressure on these markets as many people will expect a near-term price correction after this monumental and fast run-up in blue-chip crypto instruments,” Willock added.
Digital assets on theCoinDesk 20are mostly green Monday. Notable winners as of 21:00 UTC (4:00 p.m. ET):
• stellar(XLM) + 20%
• omg network(OMG) + 16.1%
• ethereum classic+ 9.6%
Notable losers:
• algorand(ALGO) – 1.2%
• bitcoin cash(BCH) – 0.60%
• litecoin(LTC) – 0.10%
Equities:
• Asia’s Nikkei 225 closed slipping 0.68% asgovernment officials are considering declaring a state of emergency to block travel and stave off increasing coronavirus infections in Japan.
• The FTSE 100 in Europe ended the day jumping 1.7% asthe U.K. started deploying a coronavirus vaccine developed by the University of Oxford and AstraZeneca.
• The S&P 500 in the United States fell 1.5%amid uncertainty surrounding the coronavirus and the Senate run-off election in Georgia on Tuesday.
Read More:Ukraine Government Picks Stellar to Help Build National Digital Currency
Commodities:
• Oil was down 1.8%. Price per barrel of West Texas Intermediate crude: $47.30.
• Gold was in the green 2.4% and at $1,943 as of press time.
Treasurys:
• The 10-year U.S. Treasury bond yield climbed slightly Monday, at 0.920 and in the green 0.17%.
• Market Wrap: Bitcoin Briefly Drops Close to $28K as Ether Futures Heat Up
• Market Wrap: Bitcoin Briefly Drops Close to $28K as Ether Futures Heat Up || China ETFs Strengthen, Brushing Off Telecom De-listings: This article was originally published onETFTrends.com.
China A-shares exchange traded funds popped Monday as Chinese manufacturing activity picks up the pace.
On Monday, theXtrackers Harvest CSI 300 China A-Shares ETF (NYSEArca: ASHR), the largest China A-shares related ETF, advanced 1.5% and theVanEck Vectors ChinaAMC SME-ChiNext ETF (NYSEArca: CNXT), which tracks the performance of the 100 largest and most liquid China A-share stocks listed and trading on the Small and Medium Enterprise Board and the ChiNext Board of the Shenzhen Stock Exchange, increased 3.9%.
A private survey released Monday revealed Chinese manufacturing activity expanding in December, with the Caixin/Markit manufacturing Purchasing Managers’ Index (PMI) for the month coming in at 53.0 - readings above 50 reflect a positive expansion -CNBCreports.
China’s official manufacturing PMI released Thursday also showed the country’s factory activity expanding last month but at a slower pace compared to the November reading.
Chinese telecommunication company stocks were mixed after the New York Stock Exchange’s announcement that it will delist China Telecom, China Mobile, and China Unicom Hong Kong.
Jefferies analyst Edison Lee argued that non-U.S. investors, whom wouldn’t be covered by the ban, are “bottom-fishing”, theWall Street Journalreports. Lee believed the business fundamentals of the three de-listed firms had been on the rise.
President Donald Trump previously signed an executive order that would block on Jan. 11 Americans from investing in companies the U.S. government deemed help the Chinese military.
“This is not a problem for the Chinese telecom companies. It is a problem for the U.S. investors that have to sell, locking in their investments at a historically low price,” Peter Milliken, head of Asia-Pacific telecom research at Deutsche Bank, told CNBC.
Milliken argued that the de-listings will not impact the carriers’ businesses since “they are cash-flow machines, not needing to be fueled by new capital from the U.S., or anywhere."
For more information on the Chinese markets, visit ourChina category.
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READ MORE AT ETFTRENDS.COM > || China ETFs Strengthen, Brushing Off Telecom De-listings: This article was originally published on ETFTrends.com. China A-shares exchange traded funds popped Monday as Chinese manufacturing activity picks up the pace. On Monday, the Xtrackers Harvest CSI 300 China A-Shares ETF (NYSEArca: ASHR) , the largest China A-shares related ETF, advanced 1.5% and the VanEck Vectors ChinaAMC SME-ChiNext ETF (NYSEArca: CNXT) , which tracks the performance of the 100 largest and most liquid China A-share stocks listed and trading on the Small and Medium Enterprise Board and the ChiNext Board of the Shenzhen Stock Exchange, increased 3.9%. A private survey released Monday revealed Chinese manufacturing activity expanding in December, with the Caixin/Markit manufacturing Purchasing Managers Index (PMI) for the month coming in at 53.0 - readings above 50 reflect a positive expansion - CNBC reports. Chinas official manufacturing PMI released Thursday also showed the countrys factory activity expanding last month but at a slower pace compared to the November reading. Chinese telecommunication company stocks were mixed after the New York Stock Exchanges announcement that it will delist China Telecom, China Mobile, and China Unicom Hong Kong. Jefferies analyst Edison Lee argued that non-U.S. investors, whom wouldnt be covered by the ban, are bottom-fishing, the Wall Street Journal reports. Lee believed the business fundamentals of the three de-listed firms had been on the rise. President Donald Trump previously signed an executive order that would block on Jan. 11 Americans from investing in companies the U.S. government deemed help the Chinese military. This is not a problem for the Chinese telecom companies. It is a problem for the U.S. investors that have to sell, locking in their investments at a historically low price, Peter Milliken, head of Asia-Pacific telecom research at Deutsche Bank, told CNBC. Milliken argued that the de-listings will not impact the carriers businesses since they are cash-flow machines, not needing to be fueled by new capital from the U.S., or anywhere." Story continues For more information on the Chinese markets, visit our China category . POPULAR ARTICLES AND RESOURCES FROM ETFTRENDS.COM SPY ETF Quote VOO ETF Quote QQQ ETF Quote VTI ETF Quote JNUG ETF Quote Top 34 Gold ETFs Top 34 Oil ETFs Top 57 Financials ETFs Cotton ETN Rallying on Supply Issues 7 Misconceptions About Bitcoin 2021 Bond Outlook: Will an Uneven Recovery Make Credit Research Even More Important? Moderna Helps Biotech ETFs Mitigate Massive Losses as Stocks Tumble Stock ETFs Struggle on First Trading Day of 2021 READ MORE AT ETFTRENDS.COM > || US Stock Market Overview – Stock Fall Ahead of Senate Runoff: US stocks whipsawed, initially moving higher, hitting fresh all-time highs before moving lower and closing down on the session. Stocks closed off their lows. Most sectors in the S&P 500 index were lower, led down by Real-estate and Industrials. Energy shares bucked the trend. Gold and silver prices moved higher on Monday, while the dollar was down along with crude oil. Bitcoin prices dropped nearly 7%, after rallying over the weekend. The VIX volatility index surged nearly 17%, closing above 26 for the first time since the November elections.
On Tuesday, the Georgia Senate Runoff races take place. The fear in the market is that the democratic candidates win both seats and control the US Senate. This will allow Chuck Schumer to control the senate agendy allowing President-elect Biden to push through several new legislation pieces. Riskier assets were also sold off following news that the UK Prime Minister was calling for another large lockdown. In the US, approximately 4.6-million people have received a vaccine. Over the weekend, news came out that President Trump pressured the George Secretary of State to come up with enough votes to overturn the George Electoral College vote. The call was on tape and made available via the Wall Street Journal and the Washington Post.
In a Saturday telephone call, President Trump urged Georgia Secretary of State Brad Raffensperger to overturn the November election results. At one point in the call, Mr. Trump told Mr. Raffensperger that he could face legal action and said he wanted him to find nearly 12,000 votes so he could reverse Mr. Biden’s victory.
Thisarticlewas originally posted on FX Empire
• S&P 500 Price Forecast – Stock Markets Continue to Look Vulnerable
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• USD/CAD Daily Forecast – U.S. Dollar Rebounds After Testing New Lows
• Natural Gas Price Fundamental Daily Forecast – $2.775 is Possible This Week if the Weather Cooperates
• Oil Remains Volatile Ahead Of OPEC+ Decision On Production Cuts
• Economic Data Puts the EUR in Focus, with the Senate Race and COVID-19 also Key Drivers
[Social Media Buzz]
None available.
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36824.36, 39371.04, 40797.61, 40254.55, 38356.44, 35566.66, 33922.96, 37316.36, 39187.33, 36825.37
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Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 222.93, 225.80, 225.87, 224.32, 224.95, 225.62, 222.88, 228.49, 229.05, 228.80, 229.71, 229.98, 232.40, 233.54, 236.82, 250.90, 249.28, 249.01, 244.61, 245.21, 243.94, 246.99, 244.30, 240.51, 242.80, 243.59, 250.99, 249.01, 257.06, 263.07, 258.62, 255.41, 256.34, 260.89, 271.91, 269.03, 266.21, 270.79, 269.23, 284.89, 293.11, 310.87, 292.05, 287.46, 285.83, 278.09, 279.47, 274.90, 273.61, 278.98, 275.83, 277.22, 276.05, 288.28, 288.70, 292.69, 293.62, 294.43, 289.59, 287.72, 284.65, 281.60, 282.61, 281.23, 285.22, 281.88, 278.58, 279.58, 261.00, 265.08, 264.47, 270.39, 266.38, 264.08, 265.68, 261.55, 258.51, 257.98, 211.08, 226.68, 235.35, 232.57, 230.39, 228.17, 210.49, 221.61, 225.83, 224.77, 231.40, 229.78.
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[Bitcoin Technical Analysis for 2015-08-29]
Volume: 17142500, RSI (14-day): 41.18, 50-day EMA: 252.97, 200-day EMA: 258.10
[Wider Market Context]
None available.
[Recent News (last 7 days)]
Fidelity May Abandon American Express. What's Wrong With AmEx?: This week, Bloomberg reported that Fidelity Investments is considering dropping American Express Company (NYSE: AXP ) to search for new partners. The company may bring Visa Inc (NYSE: V ) or MasterCard Inc (NYSE: MA ) onboard instead, something that traders see as a significant threat to American Express' growth model. A Concern For AmEx? American Express' Global Network Services business represents a major growth catalyst for the company, so being abandoned by Fidelity could be a blow to the firm's future plans. The rumors about Fidelity came shortly after AmEx split from partnerships with Costco Wholesale Corporation (NASDAQ: COST ) and JetBlue Airways Corporation (NASDAQ: JBLU ), a worrying trend for investors. Facilitating transactions is an important part of American Express' business, and many analysts believe that the recent failed partnerships suggest that the company is facing competitive challenges. Related Link: Baird: Mastercard's Growth 'Is A Little Bit Slower,' Next Year 'Should Have Nice Acceleration' Bigger And Better While the break-up rumors are concerning, things aren't all bad for the credit card company. Earlier this year, American Express revealed a new loyalty program that included partnerships with several big name retailers. Companies like AT&T, Inc. (NYSE: ATT ), Macy's, Inc. (NYSE: M ) and Exxon Mobil Corporation (NYSE: XOM ) have signed on to AmEx's latest loyalty program, Plenti. Plenti, though managed by American Express, allows members of the loyalty program to use any purchase, whether it's with an AmEx card or not, at a participating partner toward their loyalty points. Points accrued at one retailer can then be spent at another. What's Next For AmEx? While Plenti represents an opportunity for American Express, many wonder if the loyalty program is enough to offset the company's difficult year. Merchant coalitions like Plenti are generally difficult to manage as they require that none of the participating companies are competitors. That will limit the number of vendors who can participate and could make it difficult for the scheme to grow its customer base. Story continues Image credit: Marcus Quigmire, Wikimedia See more from Benzinga What Effect Does Marijuana Have On Your Brain? Bitcoin To Expand In Iran Another Trading Glitch Underscores The Need For Backup Plans © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Fidelity May Abandon American Express. What's Wrong With AmEx?: This week,Bloombergreported that Fidelity Investments is considering droppingAmerican Express Company(NYSE:AXP) to search for new partners. The company may bringVisa Inc(NYSE:V) orMasterCard Inc(NYSE:MA) onboard instead, something that traders see as a significant threat to American Express' growth model.
A Concern For AmEx?
American Express' Global Network Services business represents a major growth catalyst for the company, so being abandoned by Fidelity could be a blow to the firm's future plans.
The rumors about Fidelity came shortly after AmEx split from partnerships withCostco Wholesale Corporation(NASDAQ:COST) andJetBlue Airways Corporation(NASDAQ:JBLU), a worrying trend for investors. Facilitating transactions is an important part of American Express' business, and many analysts believe that the recent failed partnerships suggest that the company is facing competitive challenges.
Related Link:Baird: Mastercard's Growth 'Is A Little Bit Slower,' Next Year 'Should Have Nice Acceleration'
Bigger And Better
While the break-up rumors are concerning, things aren't all bad for the credit card company. Earlier this year, American Express revealed anew loyalty programthat included partnerships with several big name retailers. Companies likeAT&T, Inc.(NYSE:ATT),Macy's, Inc.(NYSE:M) andExxon Mobil Corporation(NYSE:XOM) have signed on to AmEx's latest loyalty program, Plenti.
Plenti, though managed by American Express, allows members of the loyalty program to use any purchase, whether it's with an AmEx card or not, at a participating partner toward their loyalty points. Points accrued at one retailer can then be spent at another.
What's Next For AmEx?
While Plenti represents an opportunity for American Express, many wonder if the loyalty program is enough to offset the company's difficult year. Merchant coalitions like Plenti are generally difficult to manage as they require that none of the participating companies are competitors. That will limit the number of vendors who can participate and could make it difficult for the scheme to grow its customer base.
Image credit: Marcus Quigmire, Wikimedia
See more from Benzinga
• What Effect Does Marijuana Have On Your Brain?
• Bitcoin To Expand In Iran
• Another Trading Glitch Underscores The Need For Backup Plans
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || U.K. Cops Arrest 6 Teens Linked to Sony, Microsoft Cyber-Attacks: British law-enforcement officials have arrested six male teenagers suspected of being members of the Lizard Squad hacking crew that disabled Sony s PlayStation Network and Microsoft s Xbox Live last year. The U.K.s National Crime Agency, the equivalent to the U.S.s Federal Bureau of Investigation, said the suspects used a tool to launch distributed denial of service (DDoS) attacks to cripple online servers of gaming companies as well as e-retailers, a national British newspaper and a school. The NCA did not identify the targeted companies but reports said the arrests are related to several attacks on the PlayStation and Xbox networks last year . Amazon also was among the sites attacked by the group, Bloomberg reported . The NCAs Operation Vivarium tracked down individuals who bought Lizard Stresser, software for launching DDoS attacks that flood servers with bogus data, using payment services such as Bitcoin to remain anonymous. The suspects detained for questioning this week are all between the ages of 15 and 18. This multiagency operation illustrates the commitment of the NCA and its partners to pursuing people who think they can criminally disrupt important public services or legitimate businesses, Tony Adams, head of investigations for the NCAs National Cyber Crime Unit, said in announcing the arrests Friday. Adams added, One of our key priorities is to engage with those on the fringes of cyber criminality, to help them understand the consequences of cyber crime and how they can channel their abilities into productive and lucrative legitimate careers. Earlier this year, the NCA arrested two other British teens suspected of using Lizard Stresser. In addition, the agency said, officials are investigating approximately 50 addresses linked to individuals registered on the Lizard Stresser website but who are currently not believed to have carried out any attacks. The NCAs arrests this week are unrelated to the devastating hack on Sony Pictures systems last November , which resulted in a massive breach of internal studio documents and leaks of several films to piracy networks . U.S. officials have accused the North Korean regime of facilitating that attack. Story continues Related stories Amazon to Launch Prime Instant Video in Japan, Taking on Netflix Maria Bello to Co-Star Opposite Billy Bob Thornton in Amazon's Legal Drama 'Trial' TV Review: 'Hand of God' Get more from Variety and Variety411 : Follow us on Twitter , Facebook , Newsletter || U.K. Cops Arrest 6 Teens Linked to Sony, Microsoft Cyber-Attacks: British law-enforcement officials have arrested six male teenagers suspected of being members of the Lizard Squad hacking crew that disabled Sony s PlayStation Network and Microsoft s Xbox Live last year. The U.K.s National Crime Agency, the equivalent to the U.S.s Federal Bureau of Investigation, said the suspects used a tool to launch distributed denial of service (DDoS) attacks to cripple online servers of gaming companies as well as e-retailers, a national British newspaper and a school. The NCA did not identify the targeted companies but reports said the arrests are related to several attacks on the PlayStation and Xbox networks last year . Amazon also was among the sites attacked by the group, Bloomberg reported . The NCAs Operation Vivarium tracked down individuals who bought Lizard Stresser, software for launching DDoS attacks that flood servers with bogus data, using payment services such as Bitcoin to remain anonymous. The suspects detained for questioning this week are all between the ages of 15 and 18. This multiagency operation illustrates the commitment of the NCA and its partners to pursuing people who think they can criminally disrupt important public services or legitimate businesses, Tony Adams, head of investigations for the NCAs National Cyber Crime Unit, said in announcing the arrests Friday. Adams added, One of our key priorities is to engage with those on the fringes of cyber criminality, to help them understand the consequences of cyber crime and how they can channel their abilities into productive and lucrative legitimate careers. Earlier this year, the NCA arrested two other British teens suspected of using Lizard Stresser. In addition, the agency said, officials are investigating approximately 50 addresses linked to individuals registered on the Lizard Stresser website but who are currently not believed to have carried out any attacks. The NCAs arrests this week are unrelated to the devastating hack on Sony Pictures systems last November , which resulted in a massive breach of internal studio documents and leaks of several films to piracy networks . U.S. officials have accused the North Korean regime of facilitating that attack. Story continues Related stories Amazon to Launch Prime Instant Video in Japan, Taking on Netflix Maria Bello to Co-Star Opposite Billy Bob Thornton in Amazon's Legal Drama 'Trial' TV Review: 'Hand of God' Get more from Variety and Variety411 : Follow us on Twitter , Facebook , Newsletter || Overstock to Buy SpeedRoute for More Transparent Trading: Online retailerOverstock.com, Inc.’s OSTK cryptofinance subsidiary, t0, has signed a deal to acquire SpeedRoute and related group of privately held financial technology companies.Though the terms of the deal have not been disclosed, the total purchase price will be paid in cash and Overstock common stock. The acquisition of certain assets remains subject to regulatory requirements, with the majority of the deal already closed.SpeedRoute LLC, founded in Apr 2000, is a brokerage firm that currently handles approximately 2.5% of U.S. equity order flow.Overstock, a Bitcoin supporter, hopes to reinvent the public stock market using cryptosecurities, or virtual stocks based on bitcoin's blockchain technology. Bitcoin is a digital currency platform with no central regulating authority involved in the transactions. It is also called crypto currency because it utilizes military-grade cryptography to protect users against fraud. Bitcoin and other cryptocurencies operate on blockchain which is a distributed public ledger.Cryptosecurities will likely be the next major change in the stock market. With this deal, Overstock will enter a new financial technology space. SpeedRoute’s infrastructure and its underlying technologies will help the company to connect t0 securities trading platform with the entire U.S. equity market. This will bring in more transparency and efficiency to the existing capital markets, which was the basic idea behind t0.com.The blockchain technology allows investors and buyers to trail down their purchases and ownership of cryptosecurities, ensuring complete transparency. Moreover, the t0.com blockchain technology facilitates same-day settlement of the securities.In June, Overstock offered its first corporate bond, valued at US$25 million, as cryptosecurities to qualified institutional investors. This revolutionary development is part of the company's larger cryptofinance initiative known as Medici.Overstock.com is engaged in selling branded as well as non-branded merchandise through its websites. Customers can bargain before purchase and often get discounts. A major portion of its revenues is generated in the U.S. In the last reported quarter, the company’s earnings of 7 cents missed the Zacks Consensus Estimate by 46.15%.Currently, Overstock has a Zacks Rank #4 (Sell). Some better-ranked stocks in the technology sector are Amazon AMZN, Stamps.com STMP and Travelport Worldwide Limited TVPT. All these stocks sport a Zacks Rank #1 (Strong Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download7 Best Stocks for the Next 30 Days.Click to get this free report >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportAMAZON.COM INC (AMZN): Free Stock Analysis ReportOVERSTOCK.COM (OSTK): Free Stock Analysis ReportSTAMPS.COM INC (STMP): Free Stock Analysis ReportTRAVELPORT WWD (TVPT): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research || Overstock to Buy SpeedRoute for More Transparent Trading: Online retailer Overstock.com, Inc. ’s OSTK cryptofinance subsidiary, t0, has signed a deal to acquire SpeedRoute and related group of privately held financial technology companies. Though the terms of the deal have not been disclosed, the total purchase price will be paid in cash and Overstock common stock. The acquisition of certain assets remains subject to regulatory requirements, with the majority of the deal already closed. SpeedRoute LLC, founded in Apr 2000, is a brokerage firm that currently handles approximately 2.5% of U.S. equity order flow. Overstock, a Bitcoin supporter, hopes to reinvent the public stock market using cryptosecurities, or virtual stocks based on bitcoin's blockchain technology. Bitcoin is a digital currency platform with no central regulating authority involved in the transactions. It is also called crypto currency because it utilizes military-grade cryptography to protect users against fraud. Bitcoin and other cryptocurencies operate on blockchain which is a distributed public ledger. Cryptosecurities will likely be the next major change in the stock market. With this deal, Overstock will enter a new financial technology space. SpeedRoute’s infrastructure and its underlying technologies will help the company to connect t0 securities trading platform with the entire U.S. equity market. This will bring in more transparency and efficiency to the existing capital markets, which was the basic idea behind t0.com. The blockchain technology allows investors and buyers to trail down their purchases and ownership of cryptosecurities, ensuring complete transparency. Moreover, the t0.com blockchain technology facilitates same-day settlement of the securities. In June, Overstock offered its first corporate bond, valued at US$25 million, as cryptosecurities to qualified institutional investors. This revolutionary development is part of the company's larger cryptofinance initiative known as Medici. Overstock.com is engaged in selling branded as well as non-branded merchandise through its websites. Customers can bargain before purchase and often get discounts. A major portion of its revenues is generated in the U.S. In the last reported quarter, the company’s earnings of 7 cents missed the Zacks Consensus Estimate by 46.15%. Currently, Overstock has a Zacks Rank #4 (Sell). Some better-ranked stocks in the technology sector are Amazon AMZN, Stamps.com STMP and Travelport Worldwide Limited TVPT. All these stocks sport a Zacks Rank #1 (Strong Buy). Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report AMAZON.COM INC (AMZN): Free Stock Analysis Report OVERSTOCK.COM (OSTK): Free Stock Analysis Report STAMPS.COM INC (STMP): Free Stock Analysis Report TRAVELPORT WWD (TVPT): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research || 5 technology stocks to buy at a discount: After a day of relief fromChina-fueled concerns, some CNBC"Fast Money"traders looked to a Chinese company for upside.
Major U.S. averagesjumped sharply Wednesdayin their best day since 2011, as investors shrugged off fears about the world's second-largest economy. U.S.-listed shares of Alibaba(NYSE: BABA), though, closed barely higher and are down 33 percent this year.
"Alibaba is always a play on the Chinese consumer," said trader Brian Kelly, saying it "is the buy here" for the long term.
Trader Tim Seymour-who owns the stock-said he would stick with it. Alibaba makes an appealing play on its current valuation and projected growth, he added.
Read MoreApple stock flashes a warning signal
Big U.S. tech stocks, meanwhile, helped drive the rally. Netflix(NASDAQ: NFLX)-which climbed 8 percent on the day-looks like a buy after a stark drop earlier this month, said trader Guy Adami.
"The market's changed. Netflix hasn't," he said.
Meanwhile, Google(NASDAQ: GOOGL)and Facebook(NASDAQ: FB)jumped 8 and 5 percent, respectively, on Wednesday. Priceline(NASDAQ: PCLN)also climbed 4 percent.
Read MoreThe morning tech rally scares Mark Cuban
Trader Steve Grasso contended that all of those stocks look appealing, even after their surges.
Disclosures:
Tim Seymour
Tim Seymour is long AAPL, T, BAC, DIS, F, GE, GM, GOOGL, INTC, JPM, Tim's firm is long BABA, BIDU, MCD, NKE, NOK, SBUX, YHOO.
Steve Grasso
Grasso is long AAPL, BA, BAC, CC, DD, DIS, DECK, EVGN, FIT, KBH, MJNA, MU, PFE, PHM, T, TWTR, GDX. His kids are long EFA, EFG, EWJ, IJR, SPY. His firm and some of its partners are long DVN, BP, COP, CVX, FCX, NE, NEM, OXY, RIG, VALE
Brian Kelly
Brian Kelly is long BBRY, BTC=; TWTR call spread, U.S. Dollar; he is short Euro, Ruble, Yen, Yuan, US Treasuries.
Guy Adami
Guy Adami is long CELG, EXAS, INTC, Guy Adami's wife, Linda Snow, works at Merck.
More From CNBC
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• Personal Finance || 5 technology stocks to buy at a discount: After a day of relief from China -fueled concerns, some CNBC "Fast Money" traders looked to a Chinese company for upside. Major U.S. averages jumped sharply Wednesday in their best day since 2011, as investors shrugged off fears about the world's second-largest economy. U.S.-listed shares of Alibaba (NYSE: BABA) , though, closed barely higher and are down 33 percent this year. "Alibaba is always a play on the Chinese consumer," said trader Brian Kelly, saying it "is the buy here" for the long term. Trader Tim Seymour-who owns the stock-said he would stick with it. Alibaba makes an appealing play on its current valuation and projected growth, he added. Read More Apple stock flashes a warning signal Big U.S. tech stocks, meanwhile, helped drive the rally. Netflix (NASDAQ: NFLX) -which climbed 8 percent on the day-looks like a buy after a stark drop earlier this month, said trader Guy Adami. "The market's changed. Netflix hasn't," he said. Meanwhile, Google (NASDAQ: GOOGL) and Facebook (NASDAQ: FB) jumped 8 and 5 percent, respectively, on Wednesday. Priceline (NASDAQ: PCLN) also climbed 4 percent. Read More The morning tech rally scares Mark Cuban Trader Steve Grasso contended that all of those stocks look appealing, even after their surges. Disclosures: Tim Seymour Tim Seymour is long AAPL, T, BAC, DIS, F, GE, GM, GOOGL, INTC, JPM, Tim's firm is long BABA, BIDU, MCD, NKE, NOK, SBUX, YHOO. Steve Grasso Grasso is long AAPL, BA, BAC, CC, DD, DIS, DECK, EVGN, FIT, KBH, MJNA, MU, PFE, PHM, T, TWTR, GDX. His kids are long EFA, EFG, EWJ, IJR, SPY. His firm and some of its partners are long DVN, BP, COP, CVX, FCX, NE, NEM, OXY, RIG, VALE Brian Kelly Brian Kelly is long BBRY, BTC=; TWTR call spread, U.S. Dollar; he is short Euro, Ruble, Yen, Yuan, US Treasuries. Guy Adami Guy Adami is long CELG, EXAS, INTC, Guy Adami's wife, Linda Snow, works at Merck. More From CNBC Top News and Analysis Latest News Video Personal Finance || Digital-Based Markets Ramp Up in 2015, Lead By Under-the-Radar Gems: SALT LAKE CITY, UT / ACCESSWIRE / August 25, 2015 /In 2015, digital-based markets have emerged as standard bearers across the entire financial landscape. Mobile gaming, in particular, has stood out as a front-runner in the digital sector, with mobile games projected to gross between 20 and 30 billion this year alone. These games can be programmed and sold inexpensively allowing mobile gaming companies to thrive thanks to low production costs and budget expenses. Meanwhile, in-app purchases often entice consumers to spend ever-increasing amounts for digital content. When a new, free-to-play mobile game goes viral, but offers numerous in-game purchases, total revenues resulting from a single game can be substantial.
While the viral, swift dominance of the mobile gaming industry isn't news to most, the important thing for investors is the ability to identify which companies have the potential to be the next big thing. One possible candidate isTapinator Inc(TAPM). In the last two trading sessions,TAPMhas experienced big gains, rising over 60% to settle in at .255 per share. The company continues to crack Google Play's lists of the most popularly downloaded mobile games, and Tapinator's recent financial and operating results demonstrated quarterlyrevenues that grew 172%year-over-year and 49% quarter over quarter. Tapinator was also able to eliminate all previously outstanding debt via a financing transaction that improved the company's liquidity.
This is the company's fifth quarter in a row with substantial revenue growth. Coupled with a consistent schedule of newly released games, such as the extremely popularBurn It Down, which became a Top 50 iOS game, Tapinator appears to be on the right track for sustained long term growth. Average new daily downloads are up 268% year-over-year and 139% sequentially. In this industry, that kind of activity can only be achieved through strong word-of-mouth marketing and customer loyalty, which are the keys to producing the next big game to go viral.
Also making waves in the digital sector isAvra, IncDigital Currencies(AVRN). Like Tapinator, Avra is a potential new leader in their field that has also experienced recent gains. The company saw heavy volume on Friday that raised its stock up 27%, even despite downward trends in the Dow and Nasdaq figures for that particular session. Avra aims to be one of the first major players to bring one of the internet's biggest phenomena bitcoin to the masses.
Bitcoin is a digital currency traded online to make payments and buy merchandise. It exists without the regulation of a centralized banking system, which allows for lower fees, faster service, and less hassle. Avra's systems specialize in the use of bitcoin for the purpose of travel-based purchases in popular tourist stops like casinos, hotels, and airports. The locations targeted by the company are frequented by a tech-savvy demographic that falls between the ages of 21 and 35. Using bitcoin for their purchases allows for an easy, quick, and safe method of payment for customers who tend to be pressed for time and seeking an easy payment method.
Ekso Bionics Holdings, Inc.(EKSO)is another new player in digital technologies with a product that has potential to break into a number of markets like healthcare, military, and consumer. Trading at 1.10 per share with an average volume of 731K, the company manufactures wearable bionic exoskeletons that increase human strength, endurance, and mobility - a product with multiple purposes such as aiding the disabled or increasing the efficiency of military tactics. The company has gained traction recently with a software upgrade earlier in the summer, and its CEO appearing on FOX Business Network at the beginning of August.
For investors interested in TAPM or EKSO, a company with a similar profile isAnavex Life Sciences Corp(AVXL), a clinical-stage bio pharmaceutical company with a varied portfolio of potential drug candidates to treat CNS disorders such as Alzheimer's. AVXL trades at 1.46 with a market cap of over 175M.
With multiple industries driving toward digital products and services, the tech giants of today could soon be yesterday's news, supplanted by young companies on the rise like Tapinator, Inc. or Avra. Mobile gaming in particular is one of the most exciting, rapidly moving sectors on Wall Street. A stock like TAPM could be the seed that fuels growth for investors.
DISCLAIMER:
Seraphim Strategies is a third party publisher. Not a registered broker/dealer/analyst/adviser, holds no investment licenses and may not sell, offer to sell or offer to buy any security. Market updates, news alerts and corporate profiles are not a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is not to be interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. For full disclaimer please readhttp://tomorrowsbluechips.com/disclaimer/This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.
"Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually," or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements.
SOURCE:Seraphim Strategies || Digital-Based Markets Ramp Up in 2015, Lead By Under-the-Radar Gems: SALT LAKE CITY, UT / ACCESSWIRE / August 25, 2015 / In 2015, digital-based markets have emerged as standard bearers across the entire financial landscape. Mobile gaming, in particular, has stood out as a front-runner in the digital sector, with mobile games projected to gross between 20 and 30 billion this year alone. These games can be programmed and sold inexpensively allowing mobile gaming companies to thrive thanks to low production costs and budget expenses. Meanwhile, in-app purchases often entice consumers to spend ever-increasing amounts for digital content. When a new, free-to-play mobile game goes viral, but offers numerous in-game purchases, total revenues resulting from a single game can be substantial. While the viral, swift dominance of the mobile gaming industry isn't news to most, the important thing for investors is the ability to identify which companies have the potential to be the next big thing. One possible candidate is Tapinator Inc (TAPM) . In the last two trading sessions, TAPM has experienced big gains, rising over 60% to settle in at .255 per share. The company continues to crack Google Play's lists of the most popularly downloaded mobile games, and Tapinator's recent financial and operating results demonstrated quarterly revenues that grew 172% year-over-year and 49% quarter over quarter. Tapinator was also able to eliminate all previously outstanding debt via a financing transaction that improved the company's liquidity. This is the company's fifth quarter in a row with substantial revenue growth. Coupled with a consistent schedule of newly released games, such as the extremely popular Burn It Down , which became a Top 50 iOS game, Tapinator appears to be on the right track for sustained long term growth. Average new daily downloads are up 268% year-over-year and 139% sequentially. In this industry, that kind of activity can only be achieved through strong word-of-mouth marketing and customer loyalty, which are the keys to producing the next big game to go viral. Story continues Also making waves in the digital sector is Avra, Inc Digital Currencies (AVRN) . Like Tapinator, Avra is a potential new leader in their field that has also experienced recent gains. The company saw heavy volume on Friday that raised its stock up 27%, even despite downward trends in the Dow and Nasdaq figures for that particular session. Avra aims to be one of the first major players to bring one of the internet's biggest phenomena bitcoin to the masses. Bitcoin is a digital currency traded online to make payments and buy merchandise. It exists without the regulation of a centralized banking system, which allows for lower fees, faster service, and less hassle. Avra's systems specialize in the use of bitcoin for the purpose of travel-based purchases in popular tourist stops like casinos, hotels, and airports. The locations targeted by the company are frequented by a tech-savvy demographic that falls between the ages of 21 and 35. Using bitcoin for their purchases allows for an easy, quick, and safe method of payment for customers who tend to be pressed for time and seeking an easy payment method. Ekso Bionics Holding s, Inc. (EKSO) is another new player in digital technologies with a product that has potential to break into a number of markets like healthcare, military, and consumer. Trading at 1.10 per share with an average volume of 731K, the company manufactures wearable bionic exoskeletons that increase human strength, endurance, and mobility - a product with multiple purposes such as aiding the disabled or increasing the efficiency of military tactics. The company has gained traction recently with a software upgrade earlier in the summer, and its CEO appearing on FOX Business Network at the beginning of August. For investors interested in TAPM or EKSO, a company with a similar profile is Anavex Life Sciences Corp (AVXL) , a clinical-stage bio pharmaceutical company with a varied portfolio of potential drug candidates to treat CNS disorders such as Alzheimer's. AVXL trades at 1.46 with a market cap of over 175M. With multiple industries driving toward digital products and services, the tech giants of today could soon be yesterday's news, supplanted by young companies on the rise like Tapinator, Inc. or Avra. Mobile gaming in particular is one of the most exciting, rapidly moving sectors on Wall Street. A stock like TAPM could be the seed that fuels growth for investors. DISCLAIMER: Seraphim Strategies is a third party publisher. Not a registered broker/dealer/analyst/adviser, holds no investment licenses and may not sell, offer to sell or offer to buy any security. Market updates, news alerts and corporate profiles are not a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is not to be interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. For full disclaimer please read http://tomorrowsbluechips.com/disclaimer/ This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually," or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. SOURCE: Seraphim Strategies || The 'Wolf of WhatsApp' wants to sell you penny stocks: (Paramount)The “pump and dump” scam is a classic stock trick.
Someone ruthlessly promotes a stock they hold, driving up the price based on artificial interest, and then sells before everyone realizes the interest was just manufactured.
Oftentimes, those stocks are “penny stocks,” which don’t trade on an exchange and are worth only a few cents a share.
Real life “Wolf of Wall Street” Jordan Belfort was famous for perfecting the pump and dumpto the tune of millions of dollarsfor himself and his posse.
But on Friday a new cadre of penny stock villains struck, this time on the popular messaging app WhatsApp.
I first noticed the scam when a friend of mine posted this screenshot on Facebook along with the caption,“Umm...What? Someone got the serious wrong number on Whatsapp.”
(Facebook)
But I didn’t put the pieces of the scam together untilThe Awl’sJohn Herrmanpointed out that the spam seemed to be part of a coordinated pump and dump scheme.
AVRN is the stock sign for Avra, Inc., which is a digital currency (think Bitcoin) company.
And the scam seems to have been dastardly effective. As you can see from this chart from Yahoo Finance, the stock for Avra shot up at around 11 a.m. before crashing shortly thereafter:
(Yahoo Finance)
Some people were clearly fooled, and assuming the scammers timed it right and didn’t totally bungle the operation, they probably made some cash.
This isn’t the first time that potential pump and dumpers have used an innovative messaging medium to cut through the noise.Last month,Twitter shares spikedbased on a phony report on awebsite made to look like Bloomberg.com. The story had said that Twitter was fielding an offer to be taken over for $31 billion.
NOW WATCH:The story behind the famously offensive twitter account that parodies Wall Street culture
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• Make no mistake — this is the opening of the 'China Decade'
• It's no longer all about ads — Here's how publishers, streaming sites, and apps are using subscriptions to boost revenues || The 'Wolf of WhatsApp' wants to sell you penny stocks: Leo DiCaprio Wolf of Wall Street (Paramount) The “pump and dump” scam is a classic stock trick. Someone ruthlessly promotes a stock they hold, driving up the price based on artificial interest, and then sells before everyone realizes the interest was just manufactured. Oftentimes, those stocks are “penny stocks,” which don’t trade on an exchange and are worth only a few cents a share. Real life “Wolf of Wall Street” Jordan Belfort was famous for perfecting the pump and dump to the tune of millions of dollars for himself and his posse. But on Friday a new cadre of penny stock villains struck, this time on the popular messaging app WhatsApp. I first noticed the scam when a friend of mine posted this screenshot on Facebook along with the caption, “ Umm...What? Someone got the serious wrong number on Whatsapp.” Screen Shot 2015 08 21 at 5.38.03 PM (Facebook) But I didn’t put the pieces of the scam together until The Awl’s John Herrman pointed out that the spam seemed to be part of a coordinated pump and dump scheme. AVRN is the stock sign for Avra, Inc., which is a digital currency (think Bitcoin) company. And the scam seems to have been dastardly effective. As you can see from this chart from Yahoo Finance, the stock for Avra shot up at around 11 a.m. before crashing shortly thereafter: Screen Shot 2015 08 21 at 5.25.46 PM (Yahoo Finance) Some people were clearly fooled, and assuming the scammers timed it right and didn’t totally bungle the operation, they probably made some cash. This isn’t the first time that potential pump and dumpers have used an innovative messaging medium to cut through the noise. Last month, Twitter shares spiked based on a phony report on a website made to look like Bloomberg.com . The story had said that Twitter was fielding an offer to be taken over for $31 billion. NOW WATCH: The story behind the famously offensive twitter account that parodies Wall Street culture More From Business Insider Here's what to expect from the next iPhone's camera, according to a person who's making it Make no mistake — this is the opening of the 'China Decade' It's no longer all about ads — Here's how publishers, streaming sites, and apps are using subscriptions to boost revenues
[Social Media Buzz]
Current price: 203.69€ $BTCEUR $btc #bitcoin 2015-08-30 01:00:02 CEST || Current price: 146.39£ $BTCGBP $btc #bitcoin 2015-08-30 01:00:03 BST || In the last 10 mins, there were arb opps spanning 16 exchange pair(s), yielding profits ranging between $0.00 and $97.72 #bitcoin #btc || #Bitcoin last trade
@bleutrade $228.50
@btcecom $226.51
@cryptsy $231.00
Set #crypto #price #alerts at http://AlertCo.in || 1 #BTC (#Bitcoin) quotes:
$230.14/$230.62 #Bitstamp
$227.03/$227.21 #BTCe
⇢$-3.59/$-2.93
$...
|
228.76, 230.06, 228.12, 229.28, 227.18, 230.30, 235.02, 239.84, 239.85, 243.61
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Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 3470.45, 3448.12, 3486.18, 3457.79, 3487.95, 3521.06, 3464.01, 3459.15, 3466.36, 3413.77, 3399.47, 3666.78, 3671.20, 3690.19, 3648.43, 3653.53, 3632.07, 3616.88, 3620.81, 3629.79, 3673.84, 3915.71, 3947.09, 3999.82, 3954.12, 4005.53, 4142.53, 3810.43, 3882.70, 3854.36, 3851.05, 3854.79, 3859.58, 3864.42, 3847.18, 3761.56, 3896.38, 3903.94, 3911.48, 3901.13, 3963.31, 3951.60, 3905.23, 3909.16, 3906.72, 3924.37, 3960.91, 4048.73, 4025.23, 4032.51, 4071.19, 4087.48, 4029.33, 4023.97, 4035.83, 4022.17, 3963.07, 3985.08, 4087.07, 4069.11, 4098.37, 4106.66, 4105.40, 4158.18, 4879.88, 4973.02, 4922.80, 5036.68, 5059.82, 5198.90, 5289.77, 5204.96, 5324.55, 5064.49, 5089.54, 5096.59, 5167.72, 5067.11, 5235.56, 5251.94, 5298.39, 5303.81, 5337.89, 5314.53, 5399.37, 5572.36, 5464.87, 5210.52, 5279.35, 5268.29.
|
[Bitcoin Technical Analysis for 2019-04-27]
Volume: 13111274675, RSI (14-day): 58.31, 50-day EMA: 4782.45, 200-day EMA: 4782.39
[Wider Market Context]
None available.
[Recent News (last 7 days)]
FinCEN makes public statement on Silk Road transactor: Disclaimer: These summaries are provided for educational purposes only byNelson RosarioandStephen Palley. They are not legal advice. These are our opinions only, aren’t authorized by any past, present or future client or employer. Also we might change our minds. We contain multitudes.
As always, Rosario summaries are “NMR” and Palley summaries are “SDP". Their guest poster Steven Middlebrook can be found on twitter at@stmdc
[related id=1]In Re: Eric Powers (FinCEN №2019–01, April 18, 2019) [STM]
One of the first U.S. regulators to address virtual currency was the Financial Crimes Enforcement Network (FinCEN), the division of the U.S. Department of the Treasury which oversees regulations designed to identify and impede money laundering and terrorist financing. Way back in 2013, FinCEN issued guidance setting forth its view that administrators and exchangers of convertible virtual currency were engaged in money transmission and were required to register with the agency as a money services business (MSB). MSBs have to register with FinCEN, implement a plan to prevent money laundering and file various kinds of reports with the Treasury. Shortly after the guidance was published, the Feds took down Liberty Reserve. They relied on the FinCEN guidance again in 2017 when theytook action against virtual currency exchange BTC-e. Other than those matters, however, FinCEN has been content to leave the regulatory limelight to its more prolific cousin, the SEC. Until last week.
On April 18th, FinCEN made public an “assessment of civil money penalty” (meaning a fine, but done in an administrative action by the agency and not in a criminal case filed in court) against Eric Powers for being an unregistered MSB and not having a written anti-money laundering plan and reporting suspicious transactions as required by the MSB regulations. Mr. Powers ran a peer-to-peer cryptocurrency exchange, conducting 1700 transactions over 21 months, and traded millions of dollars’ worth of bitcoin with a number of customers, including people doing business on — cue ominous music — the Silk Road. According to FinCEN, Mr. Powers was engaged in money transmission but he wasn’t following the rules.
In case your mind is all full of “when is crypto a security?” and you’ve forgotten all about “when is crypto money transmission?” let’s do a quick refresher. For FinCEN purposes, money transmission is the acceptance of currency or something that substitutes for currency and the transmission of that currency or substitute to another person or location. Currency is broadly defined to include paper money, funds or other value that substitutes for money and thus includes virtual currencies that can be converted into real money. To be a money transmitter, you must both accept value and transmit that value to another person or another location. In a peer-to-peer transaction, the exchange is trading bitcoin with an individual customer and there is no “another person” to receive the currency substitute. That means for FinCEN to go after a peer-to-peer exchanger like Powers, it has to believe that he is transmitting bitcoin to “another location.”
FinCEN doesn’t explain what it thinks transmitting virtual currency to another location means, but in its 2013 guidance, it did say that an exchange that accepts dollars and then transmits value to the customer’s virtual currency account is engaged in transmission to another location. And last year, in aletter to Sen. Ron Wyden, the agency stated that a developer who sells virtual currency, including in the form of ICO tokens, in exchange for dollars or other cryptocurrency, in engaged in money transmission. Those examples are interesting, but they don’t really mirror what’s going on with Powers. Nothing in regulations or the guidance makes it clear why exchanging dollars for bitcoin should be viewed as transmitting money to another location. Nothing in the enforcement action lays out which actions by Powers constitute the prohibited behavior. Until FinCEN or a court publishes a definitive philosophical explanation of where a bitcoin is located, assuming geolocation is even a meaningful attribute of a virtual currency, the law in this area is going to remain a bit murky. You didn’t really expect it to get clearer, did you?
There are lots of people operating as peer-to-peer exchanges. Why did FinCEN go after this guy? Pure speculation, but the fact that lots of his customers operated on the Silk Road probably means that he was known to law enforcement and thus became a target. FinCEN also cites to Power’s “extensive cooperation” which probably explains why he’s not being prosecuted criminally. Should we expect more enforcement actions like this one? Yes. I’ll just point out that last fall FinCENadvertised to hire a Virtual Currency Enforcement Specialist. They gotta find something for that person to do.
Finally, on a side note, as it seems to be the norm in virtual currency enforcement actions, FinCEN uses Powers’ internet postings — specifically statements that he could help people avoid restrictions designed to deter money laundering — against him. I refer you to Mr. Palley’s numerous prior admonitions about documenting your crimes on social media.
The Block is pleased to bring you expert cryptocurrency legal analysis courtesy of Stephen Palley (@stephendpalley) and Nelson M. Rosario (@nelsonmrosario). They summarize three cryptocurrency-related cases on a weekly basis and have given The Block permission to republish their commentary and analysis in full. Part I of this week's analysis, Crypto Caselaw Minute, is above. || FinCEN makes public statement on Silk Road transactor: Disclaimer: These summaries are provided for educational purposes only by Nelson Rosario and Stephen Palley . They are not legal advice. These are our opinions only, aren’t authorized by any past, present or future client or employer. Also we might change our minds. We contain multitudes. As always, Rosario summaries are “NMR” and Palley summaries are “SDP". Their guest poster Steven Middlebrook can be found on twitter at @stmdc [related id=1]In Re: Eric Powers (FinCEN №2019–01, April 18, 2019) [STM] One of the first U.S. regulators to address virtual currency was the Financial Crimes Enforcement Network (FinCEN), the division of the U.S. Department of the Treasury which oversees regulations designed to identify and impede money laundering and terrorist financing. Way back in 2013, FinCEN issued guidance setting forth its view that administrators and exchangers of convertible virtual currency were engaged in money transmission and were required to register with the agency as a money services business (MSB). MSBs have to register with FinCEN, implement a plan to prevent money laundering and file various kinds of reports with the Treasury. Shortly after the guidance was published, the Feds took down Liberty Reserve. They relied on the FinCEN guidance again in 2017 when they took action against virtual currency exchange BTC-e . Other than those matters, however, FinCEN has been content to leave the regulatory limelight to its more prolific cousin, the SEC. Until last week. On April 18th, FinCEN made public an “ assessment of civil money penalty ” (meaning a fine, but done in an administrative action by the agency and not in a criminal case filed in court) against Eric Powers for being an unregistered MSB and not having a written anti-money laundering plan and reporting suspicious transactions as required by the MSB regulations. Mr. Powers ran a peer-to-peer cryptocurrency exchange, conducting 1700 transactions over 21 months, and traded millions of dollars’ worth of bitcoin with a number of customers, including people doing business on — cue ominous music — the Silk Road. According to FinCEN, Mr. Powers was engaged in money transmission but he wasn’t following the rules. Story continues In case your mind is all full of “when is crypto a security?” and you’ve forgotten all about “when is crypto money transmission?” let’s do a quick refresher. For FinCEN purposes, money transmission is the acceptance of currency or something that substitutes for currency and the transmission of that currency or substitute to another person or location. Currency is broadly defined to include paper money, funds or other value that substitutes for money and thus includes virtual currencies that can be converted into real money. To be a money transmitter, you must both accept value and transmit that value to another person or another location. In a peer-to-peer transaction, the exchange is trading bitcoin with an individual customer and there is no “another person” to receive the currency substitute. That means for FinCEN to go after a peer-to-peer exchanger like Powers, it has to believe that he is transmitting bitcoin to “another location.” FinCEN doesn’t explain what it thinks transmitting virtual currency to another location means, but in its 2013 guidance, it did say that an exchange that accepts dollars and then transmits value to the customer’s virtual currency account is engaged in transmission to another location. And last year, in a letter to Sen. Ron Wyden , the agency stated that a developer who sells virtual currency, including in the form of ICO tokens, in exchange for dollars or other cryptocurrency, in engaged in money transmission. Those examples are interesting, but they don’t really mirror what’s going on with Powers. Nothing in regulations or the guidance makes it clear why exchanging dollars for bitcoin should be viewed as transmitting money to another location. Nothing in the enforcement action lays out which actions by Powers constitute the prohibited behavior. Until FinCEN or a court publishes a definitive philosophical explanation of where a bitcoin is located, assuming geolocation is even a meaningful attribute of a virtual currency, the law in this area is going to remain a bit murky. You didn’t really expect it to get clearer, did you? There are lots of people operating as peer-to-peer exchanges. Why did FinCEN go after this guy? Pure speculation, but the fact that lots of his customers operated on the Silk Road probably means that he was known to law enforcement and thus became a target. FinCEN also cites to Power’s “extensive cooperation” which probably explains why he’s not being prosecuted criminally. Should we expect more enforcement actions like this one? Yes. I’ll just point out that last fall FinCEN advertised to hire a Virtual Currency Enforcement Specialist . They gotta find something for that person to do. Finally, on a side note, as it seems to be the norm in virtual currency enforcement actions, FinCEN uses Powers’ internet postings — specifically statements that he could help people avoid restrictions designed to deter money laundering — against him. I refer you to Mr. Palley’s numerous prior admonitions about documenting your crimes on social media. The Block is pleased to bring you expert cryptocurrency legal analysis courtesy of Stephen Palley ( @stephendpalley ) and Nelson M. Rosario ( @nelsonmrosario ). They summarize three cryptocurrency-related cases on a weekly basis and have given The Block permission to republish their commentary and analysis in full. Part I of this week's analysis, Crypto Caselaw Minute, is above. || Bitfinex Faces Legal Action From NY Attorney General: Heres What This Means: Bitfinex Ny Attorney General The New York Office of the Attorney General (AG) wants to take a closer look into the business operations of Bitfinex and related stablecoin issuer Tether (USDT). According to a legal petition filed with the Supreme Court of New York, the NY Attorney General Office of Letitia James is applying for a court order to investigate Bitfinexs suite of interrelated companies (including its umbrella firm iFinex and Tether Holdings Limited) for ongoing fraud to the tune of $850 million. What does the news mean for Bitfinex, Tether and Bitcoin? What Is the Legal Action About Exactly? Prompted by its findings in a 2018 investigative subpoena, the New York Office of the Attorney General alleges that Bitfinex used funds from Tether (a separate company run by the same management) to mask some $850 million in losses in customer funds resulting from potential theft or mismanagement by payment processor Crypto Capital. Bitfinex ended up relying on the fiduciary services of the Panama-based payment processor following a roulette of troubled banking relationships throughout the years. By mid-2018, Crypto Capital held roughly $1 billion worth of combined business and customer funds on behalf of Bitfinex. The document alleges that Bitfinex entrusted Crypto Capital with these funds without signing a contract or business agreement. Text-based correspondence cited in the document from mid-2018, which was obtained during the AGs 2018 investigation, reveal a Bitfinex employees persistent yet unsuccessful attempts to retrieve funds from Crypto Capital. The payment processor claimed that the funds were seized by Portuguese, Polish and American authorities, though both the Attorney General and Bitfinex question whether this is true. In the meantime, complaints of delayed withdrawals from Bitfinex users were rampant. The court document states that despite its issues with Crypto Capital, Bitfinex falsely claimed that cash withdrawals were unobstructed during this period. In order to be able to continue processing withdrawals, Bitfinex ultimately transferred $625 million from Tethers reserves. Additionally, Bitfinex established a $900 million revolving line of credit with Tether, and both this promise of credit and the prior transfer were conducted without Bitfinex or Tether alerting its users. This line of credit, which Bitfinex can draw from on a need-by-need basis, is collateralized with over 60 million shares of iFinex Inc., one of the Bitfinex brands shell companies. These shares are owned by DigFinex, the majority owner of both Tether and iFinex. Story continues That transaction closed on or about March 19. 20I9. The total accessed under the loan facility as of todays date is equal to $700 million, the document states. This fund shuffling and the capital mismanagement that prompted it are the crux of the legal proceedings, with the letter stating that Bitfinex has produced only limited relevant information regarding Tethers $625 million transfer and $900 million line of credit. In conclusion, the letter reads, OAGs ongoing investigation seeks to determine, among other things, the extent to which New York investors are exposed to ongoing fraud being carried out by Bitfinex and Tether. To make this determination, the application seeks a court order to secure relevant business and financial information, including tax documentation, an official audit, and banking/loan documents and correspondence. Why Is This Legal Pressure Coming Out of New York? Bitfinex nor Tether are based in New York. Neither company possesses a BitLicense needed to operate a cryptocurrency exchange in the state, so Bitfinex officially barred its service to individuals from New York in August 2017 and to businesses in August 2018. However, the New York Attorney General believes that the exchange was still serving (some) New York citizens regardless, and the order explicitly states that it seeks to protect legitimate traders using the Bitfinex platform ... primarily those residing in New York. The New York Attorney General can also invoke what is known as the Martin Act. As securities regulatory attorney Scott Andersen said on Twitter , the Act broadly empowers the NY Attorney General to conduct civil and criminal investigations for securities law violations. With this regulatory power, the AG can obtain a preliminary court order to elicit testimony and evidence from Bitfinex. What Does Bitfinex Say? In a response published on the companys blog , Bitfinex positions itself as a company that is a good corporate citizen and strong supporter of law enforcement, and it condemns the legal action by the New York Attorney Generals Office as gross overreach. The statement reads: The New York Attorney Generals court filings were written in bad faith and are riddled with false assertions, including as to a purported $850 million loss at Crypto Capital. On the contrary, we have been informed that these Crypto Capital amounts are not lost but have been, in fact, seized and safeguarded. We are and have been actively working to exercise our rights and remedies and get those funds released. Sadly, the New York Attorney Generals office seems to be intent on undermining those efforts to the detriment of our customers. Bitfinex further suggests that the New York Attorney Generals time would be better spent trying to aid and support the companys recovery efforts to procure the funds held by Crypto Capital. Is Tether Insolvent? Is Bitfinex? Nobody can know for sure for either company. The request for a court order, in part, hinges on this question, however, and the New York Attorney General seems to believe that Bitfinex siphoned funds from Tethers reserves to cover up a potential insolvency. The document stakes no claim on whether or not Crypto Capital has the funds. Its possible that the payment processor might have the money but is refusing to give it up, just as its possible that they no longer hold these funds in their own accounts or that they were seized or frozen by authorities. It should be noted that even if $850 million is inaccessible, this represents only a fraction of Bitfinex and Tethers total holdings. Twitter reports suggest that Bitfinex withdrawals are still being processed. Were Bitfinex/Tether Critics Right? It depends on which critics and the timing of their criticisms. Over the years, a wide range of accusations have been leveraged against Bitfinex and Tether. One of the best-known and severe of these accusations was that Tether was creating unbacked USDT out of thin air, which it used to artificially inflate the bitcoin and cryptocurrency markets. Some of these accusations go back as far as early 2017. Based on the information that is now available, these accusations appear to be false or at least unproven, and the New York Attorney Generals Office doesnt lend them credence in its letter. More mild accusations focused on the untransparent business practices of Bitfinex and suspicions that the exchange, with the help of USDT, was running a fractional reserve in some way or another. Seemingly corroborating these suspicions for skeptics, Tether updated its website in March to clarify that USDT is 100% backed by [its] reserves, which could include cash equivalents but also other assets and receivables from loans. The old version assured users that each USDT was backed 1-1 with cash. Tether made this change shortly before the $900 million line of credit was established. It appears that from the moment when Bitfinex started running into trouble with Crypto Capital, sometime in 2018, these accusations of fractional reserve practices carried validity. What Does This Mean for Bitcoin? While only time will tell, of course, there is little reason to believe these latest developments will have great impact on Bitcoin one way or the other. Many bitcoin exchanges have historically had trouble finding reliable banking partners, and some of them have even had to shut down because of this. As weve seen with the QuadrigaCX debacle , when an exchange cant secure proper banking partnerships, it might turn to unscrupulous payment processors--to the detriment of both its operations and its customers funds. Similarly, a number of bitcoin exchanges have lost funds due to hacks or otherwise, and in some cases had to entirely close shop because of this as well. While such events have affected the bitcoin price and general sentiment in the short term, its not clear if this will result in long-term effects; in this case, its far from certain that Bitfinex will have to cease operations or accept losses at all. The company itself certainly doesnt think so. So far the bitcoin price has seen a somewhat modest price drop of about 5 percent. Interestingly, even USDT is trading at $0.97 on Kraken, suggesting that the market still has relative faith in the stablecoin and the company behind it (for now). This article originally appeared on Bitcoin Magazine . View comments || Bitfinex Faces Legal Action From NY Attorney General: Here’s What This Means: The New York Office of the Attorney General (AG) wants to take a closer look into the business operations ofBitfinexand related stablecoin issuerTether(USDT). According toa legal petitionfiled with the Supreme Court of New York, the NY Attorney General Office of Letitia James is applying for a court order to investigate Bitfinex’s suite of interrelated companies (including its umbrella firm iFinex and Tether Holdings Limited) for “ongoing fraud” to the tune of $850 million.
What does the news mean for Bitfinex, Tether and Bitcoin?
Prompted by its findings in a 2018 investigative subpoena, the New York Office of the Attorney General alleges that Bitfinex used funds from Tether (a separate company run by the same management) to mask some $850 million in losses in customer funds resulting from potential theft or mismanagement by payment processor Crypto Capital.
Bitfinex ended up relying on the fiduciary services of the Panama-based payment processor following a roulette of troubled banking relationships throughout the years. By mid-2018, Crypto Capital held roughly $1 billion worth of combined business and customer funds on behalf of Bitfinex. The document alleges that Bitfinex entrusted Crypto Capital with these funds without signing a contract or business agreement.
Text-based correspondence cited in the document from mid-2018, which was obtained during the AG’s 2018 investigation, reveal a Bitfinex employee’s persistent yet unsuccessful attempts to retrieve funds from Crypto Capital. The payment processor claimed that the funds were seized by Portuguese, Polish and American authorities, though both the Attorney General and Bitfinex question whether this is true.
In the meantime, complaints of delayed withdrawals from Bitfinex users were rampant. The court document states that despite its issues with Crypto Capital, Bitfinex falsely claimed that cash withdrawals were unobstructed during this period.
In order to be able to continue processing withdrawals, Bitfinex ultimately transferred $625 million from Tether’s reserves. Additionally, Bitfinex established a $900 million “revolving line of credit” with Tether, and both this promise of credit and the prior transfer were conducted without Bitfinex or Tether alerting its users.
This line of credit, which Bitfinex can draw from on a need-by-need basis, is collateralized with over 60 million shares of iFinex Inc., one of the Bitfinex brand’s shell companies. These shares are owned by DigFinex, the majority owner of both Tether and iFinex.
“That transaction closed on or about March 19. 20I9. The total accessed under the loan facility as of today’s date is equal to $700 million,” the document states.
This fund shuffling and the capital mismanagement that prompted it are the crux of the legal proceedings, with the letter stating that Bitfinex has “produced only limited relevant information” regarding Tether’s $625 million transfer and $900 million line of credit.
In conclusion, the letter reads, “OAG’s ongoing investigation seeks to determine, among other things, the extent to which New York investors are exposed to ongoing fraud being carried out by Bitfinex and Tether.” To make this determination, the application seeks a court order to secure relevant business and financial information, including tax documentation, an official audit, and banking/loan documents and correspondence.
Bitfinex nor Tether are based in New York. Neither company possesses a BitLicense needed to operate a cryptocurrency exchange in the state, so Bitfinex officially barred its service to individuals from New York in August 2017 and to businesses in August 2018.
However, the New York Attorney General believes that the exchange was still serving (some) New York citizens regardless, and the order explicitly states that it seeks to protect “legitimate traders using the Bitfinex platform ... primarily those residing in New York.”
The New York Attorney General can also invoke what is known as the Martin Act. As securities regulatory attorney Scott Andersensaid on Twitter, the Act “broadly empowers the NY Attorney General to conduct civil and criminal investigations for securities law violations.” With this regulatory power, the AG can obtain a preliminary court order to elicit testimony and evidence from Bitfinex.
In a response published on the company’sblog, Bitfinex positions itself as a company that is a good corporate citizen and strong supporter of law enforcement, and it condemns the legal action by the New York Attorney General’s Office as “gross overreach.”
The statement reads:
“The New York Attorney General’s court filings were written in bad faith and are riddled with false assertions, including as to a purported $850 million ‘loss’ at Crypto Capital. On the contrary, we have been informed that these Crypto Capital amounts are not lost but have been, in fact, seized and safeguarded. We are and have been actively working to exercise our rights and remedies and get those funds released. Sadly, the New York Attorney General’s office seems to be intent on undermining those efforts to the detriment of our customers.”
Bitfinex further suggests that the New York Attorney General’s time would be better spent trying to aid and support the company’s recovery efforts to procure the funds held by Crypto Capital.
Nobody can know for sure — for either company. The request for a court order, in part, hinges on this question, however, and the New York Attorney General seems to believe that Bitfinex siphoned funds from Tether’s reserves to cover up a potential insolvency.
The document stakes no claim on whether or not Crypto Capital has the funds. It’s possible that the payment processor might have the money but is refusing to give it up, just as it’s possible that they no longer hold these funds in their own accounts or that they were seized or frozen by authorities.
It should be noted that even if $850 million is inaccessible, this represents only a fraction of Bitfinex and Tether’s total holdings.Twitter reportssuggest that Bitfinex withdrawals are still being processed.
It depends on which critics and the timing of their criticisms. Over the years, a wide range of accusations have been leveraged against Bitfinex and Tether.
One of the best-known and severe of these accusations was that Tether was creating unbacked USDT “out of thin air,” which it used to artificially inflate the bitcoin and cryptocurrency markets. Some of these accusations go back as far as early 2017. Based on the information that is now available, these accusations appear to be false or at least unproven, and the New York Attorney General’s Office doesn’t lend them credence in its letter.
More mild accusations focused on theuntransparent business practices of Bitfinexand suspicions that the exchange, with the help of USDT, was running a fractional reserve in some way or another. Seemingly corroborating these suspicions for skeptics, Tetherupdated its websitein March to clarify that USDT is “100% backed by [its] reserves,” which could include “cash equivalents” but also “other assets and receivables from loans.” The old version assured users that each USDT was backed 1-1 with cash. Tether made this change shortly before the $900 million line of credit was established.
It appears that from the moment when Bitfinex started running into trouble with Crypto Capital, sometime in 2018, these accusations of fractional reserve practices carried validity.
While only time will tell, of course, there is little reason to believe these latest developments will have great impact on Bitcoin one way or the other.
Many bitcoin exchanges have historically had trouble finding reliable banking partners, and some of them have even had to shut down because of this. As we’ve seen with theQuadrigaCX debacle, when an exchange can’t secure proper banking partnerships, it might turn to unscrupulous payment processors--to the detriment of both its operations and its customer’s funds.
Similarly, a number of bitcoin exchanges have lost funds due to hacks or otherwise, and in some cases had to entirely close shop because of this as well. While such events have affected the bitcoin price and general sentiment in the short term, it’s not clear if this will result in long-term effects; in this case, it’s far from certain that Bitfinex will have to cease operations or accept losses at all. The company itself certainly doesn’t think so.
So far the bitcoin price has seen a somewhat modest price drop of about 5 percent. Interestingly, even USDT is trading at $0.97 on Kraken, suggesting that the market still has relative faith in the stablecoin and the company behind it (for now).
This article originally appeared onBitcoin Magazine. || $850 Million Bitfinex Bombshell Disproves Crazy Bitcoin Conspiracy: ByCCN: ShapeShift CEO Erik Voorhees made a valid observation on Twitter today, pointing out that there’s some degree of irony in the charges potentially facing embattled Bitcoin exchangeBitfinex: Tether had the cash reserves, despite wide speculation that the company had issued far more crypto tokens than it could settle.
The New York attorney general alleges that Bitfinex – historically one of the largestBitcoin exchanges– doesn’t have access to some $850 millionTethertokens and that it’s probably guilty of fraud as a result. The AG has demanded that Tether turn over documents to the State of New York, which includes materials that some traders may be uncomfortable with: full records on all traders who live in New York, and complete records on people who hold Tether and are believed to reside in New York.
Bitfinexdeniesmost of the claims by New York. The company stopped exclusively offering Tether last year, and Tether changed its practices regarding withdrawals not long after. Crypto insiders have long suspected that all was not right with Tether Limited, the company which backs and issues Tether. The USD-pegged cryptocurrency remains the most significant and oldest stablecoin by market capitalization, with over 1 billion units in circulation. UnlikeTrueUSD,Paxos Standard, andUSDC.
Bitfinex says:
“The New York Attorney General’s court filings were written in bad faith and are riddled with false assertions, including as to a purported $850 million ‘loss’ at Crypto Capital. On the contrary, we have been informed that these Crypto Capital amounts are not lost but have been, in fact, seized and safeguarded. We are and have been actively working to exercise our rights and remedies and get those funds released. Sadly, the New York Attorney General’s office seems to be intent on undermining those efforts to the detriment of our customers.”
Either way, it seems that Tether was backed by actual dollars at one point, smacking down the more radical version of the “Bitfinex’d” conspiracy.
Read the full story on CCN.com. || $850 Million Bitfinex Bombshell Disproves Crazy Bitcoin Conspiracy: ByCCN: ShapeShift CEO Erik Voorhees made a valid observation on Twitter today, pointing out that there’s some degree of irony in the charges potentially facing embattled Bitcoin exchangeBitfinex: Tether had the cash reserves, despite wide speculation that the company had issued far more crypto tokens than it could settle.
The New York attorney general alleges that Bitfinex – historically one of the largestBitcoin exchanges– doesn’t have access to some $850 millionTethertokens and that it’s probably guilty of fraud as a result. The AG has demanded that Tether turn over documents to the State of New York, which includes materials that some traders may be uncomfortable with: full records on all traders who live in New York, and complete records on people who hold Tether and are believed to reside in New York.
Bitfinexdeniesmost of the claims by New York. The company stopped exclusively offering Tether last year, and Tether changed its practices regarding withdrawals not long after. Crypto insiders have long suspected that all was not right with Tether Limited, the company which backs and issues Tether. The USD-pegged cryptocurrency remains the most significant and oldest stablecoin by market capitalization, with over 1 billion units in circulation. UnlikeTrueUSD,Paxos Standard, andUSDC.
Bitfinex says:
“The New York Attorney General’s court filings were written in bad faith and are riddled with false assertions, including as to a purported $850 million ‘loss’ at Crypto Capital. On the contrary, we have been informed that these Crypto Capital amounts are not lost but have been, in fact, seized and safeguarded. We are and have been actively working to exercise our rights and remedies and get those funds released. Sadly, the New York Attorney General’s office seems to be intent on undermining those efforts to the detriment of our customers.”
Either way, it seems that Tether was backed by actual dollars at one point, smacking down the more radical version of the “Bitfinex’d” conspiracy.
Read the full story on CCN.com. || $850 Million Bitfinex Bombshell Disproves Crazy Bitcoin Conspiracy: Ironically, New York's bombshell claim that Bitfinex committed fraud to hide an $850 million crypto theft disproves one of Bitcoin's largest conspiracies. | Source: Shutterstock By CCN : ShapeShift CEO Erik Voorhees made a valid observation on Twitter today, pointing out that there’s some degree of irony in the charges potentially facing embattled Bitcoin exchange Bitfinex : Tether had the cash reserves, despite wide speculation that the company had issued far more crypto tokens than it could settle. Ironically, this latest Bitfinex drama may be the one thing that disproves the “Bitfinex’ed” conspiracy theory. If USD in that amount was seized/stolen/held by Crypto Capital, then the USD backing Tether DID actually exist after all. @Bitfinexed claim was that USD never existed. — Erik Voorhees (@ErikVoorhees) April 26, 2019 NY Investigation: Proof of Bitcoin Exchange & Tether’s Solvency? The New York attorney general alleges that Bitfinex – historically one of the largest Bitcoin exchanges – doesn’t have access to some $850 million Tether tokens and that it’s probably guilty of fraud as a result. The AG has demanded that Tether turn over documents to the State of New York, which includes materials that some traders may be uncomfortable with: full records on all traders who live in New York, and complete records on people who hold Tether and are believed to reside in New York. Bitfinex denies most of the claims by New York. The company stopped exclusively offering Tether last year, and Tether changed its practices regarding withdrawals not long after. Crypto insiders have long suspected that all was not right with Tether Limited, the company which backs and issues Tether. The USD-pegged cryptocurrency remains the most significant and oldest stablecoin by market capitalization, with over 1 billion units in circulation. Unlike TrueUSD , Paxos Standard , and USDC . Story continues Bitfinex says: “The New York Attorney General’s court filings were written in bad faith and are riddled with false assertions, including as to a purported $850 million ‘loss’ at Crypto Capital. On the contrary, we have been informed that these Crypto Capital amounts are not lost but have been, in fact, seized and safeguarded. We are and have been actively working to exercise our rights and remedies and get those funds released. Sadly, the New York Attorney General’s office seems to be intent on undermining those efforts to the detriment of our customers.” Either way, it seems that Tether was backed by actual dollars at one point, smacking down the more radical version of the “ Bitfinex’d ” conspiracy. Read the full story on CCN.com . || Bitfinex Needs A Few Weeks to Unfreeze Funds, CFO Tells Shareholder: Two Bitfinex shareholders said they were unconcerned by the New York Attorney Generals allegations that the cryptocurrency exchange lost $850 million of client and corporate funds. Zhao Dong, a Bitfinex shareholder who has tried to reassure the crypto community that the exchange is solvent and operational numerous times in the past, told CoinDesk Friday that he remains supportive of both Bitfinex and Tether, the stablecoin issuer with overlapping management and ownership. Giancarlo Devasini, Bitfinexs chief financial officer, personally assured Zhao that this is a temporary situation, Zhao said. Indeed, Devasini told him that the exchange need[s] a few weeks and the funds will be unfrozen. Bitfinex Covered $850 Million Loss Using Tether Funds, NY Prosecutors Allege The funds were in several banks in Poland, [the] U.S. and Portugal, so Im not sure but thats what I heard, Zhao said. While the New York Attorney Generals office says the missing funds belong to both Bitfinexs corporate accounts as well as its customers, Zhao said the funds belonged entirely to customers, saying: What the information I have right now is there are no losses, but the funds belong to clients. If the U.S. government seized the funds, they should know, the funds doesnt belong to Bitfinex or Tether, its the clients money. I trust them Zhao spoke a day after the New York Attorney General revealed a court order asking the exchange to preserve and turn over all documentation about the matter, as well as documents outlining how Bitfinex borrowed funds from its sister firm Tether (both are operated by iFinex). Bitfinex Drops Minimum Balance to Trade on Crypto Exchange According to the NYAGs investigative findings, Bitfinex could not access $850 million held by Panama-based Crypto Capital, and had borrowed $700 million from Tethers reserves to cover up the shortfall. The news sparked a sell-off in the broader crypto market and a significant shift to alternative stablecoins over the next several hours, indicating trader concern about the two long-controversial companies. Story continues However, when asked if he was concerned about allegations that Bitfinex hid the loss of $850 million, Zhao said he was not. He cited events from his six years trading on the exchange as the reason for his confidence. They did very well [after previous calamities] so I trust them, Zhao said, referring to a hack in 2016 and the freezing of its funds by Wells Fargo in 2017. Tether vs. banking Zhao also argued that Tethers model is safer than fractional reserve banking. Tell me, which bank is 100 percent reserved? Not even Tether is
fully reserved, [but] its much, much better than other banks, he said. Most banks only have 2-3 percent of reserves, for Tether even the $800 million [that] is lost, even that is [not all of their funds], they have 70 percent reserved. Pressed on the amount Tether has in reserves, Zhao added that he believes the company is 100 percent backed, but even if theyre not, theyre much better than the banks. (It should be noted that banks in the U.S. have Federal Deposit Insurance Corporation insurance, covering customers funds up to $250,000 each in the event of a bank failure. More than 140 other countries have similar arrangements, according to the International Association of Deposit Insurers.) Theyre still here Nor is Zhao alone. Tian Jia, another shareholder, told CoinDesk Friday that he maintains his support for Bitfinex, and that hes heard from all of its executives since the news broke late Thursday. Theyre still there, theyre trying to solve problems, he said. (CoinDesk has not received responses to multiple requests for comment from Bitfinex and Tether on the situation.) That being said, Tian said he did not have any information that Bitfinex has not already made public, such as Bitfinexs claim in a statement Thursday night that it plans to recover the funds. Unlike Zhao, Tian did not have a timeline for this recovery process. Tian concluded: Because it is customers money, its not stolen cryptocurrency, its fiat. It cant be stolen. Its only frozen by the [regulators], and [Bitfinex is] trying to get it back by approaching Panama and the [U.S. Attorney General]. They have been communicating all along. Bitfinex image via Shutterstock Related Stories US Government Returns Bitcoins Retrieved Following 2016 Bitfinex Hack Tether Says Customers Can Once Again Deposit and Redeem Fiat || Bitfinex Needs ‘A Few Weeks’ to Unfreeze Funds, CFO Tells Shareholder: Two Bitfinex shareholders said they were unconcerned by the New York Attorney General’s allegations that the cryptocurrency exchange lost $850 million of client and corporate funds.
Zhao Dong, a Bitfinex shareholder who hastried to reassurethe crypto community that the exchange is solvent and operational numerous times in the past, told CoinDesk Friday that he remains “supportive” of both Bitfinex and Tether, the stablecoin issuer with overlapping management and ownership.
Giancarlo Devasini, Bitfinex’s chief financial officer, personally assured Zhao that this is a temporary situation, Zhao said. Indeed, Devasini told him that the exchange “need[s] a few weeks and the funds will be unfrozen.”
Bitfinex Covered $850 Million Loss Using Tether Funds, NY Prosecutors Allege
“The funds were in several banks in Poland, [the] U.S. and Portugal, so I’m not sure but that’s what I heard,” Zhao said.
While the New York Attorney General’s office says the missing funds belong to both Bitfinex’s corporate accounts as well as its customers, Zhao said the funds belonged entirely to customers, saying:
“What the information I have right now is there are no losses, but the funds belong to clients. If the U.S. government seized the funds, they should know, the funds doesn’t belong to Bitfinex or Tether, it’s the clients’ money.”
Zhao spoke a day after the New York Attorney Generalrevealed a court orderasking the exchange to preserve and turn over all documentation about the matter, as well as documents outlining how Bitfinex borrowed funds from its sister firm Tether (both are operated by iFinex).
Bitfinex Drops Minimum Balance to Trade on Crypto Exchange
According to the NYAG’s investigative findings, Bitfinex could not access $850 million held by Panama-based Crypto Capital, and had borrowed $700 million from Tether’s reserves to cover up the shortfall. The news sparked asell-off in the broader crypto marketand a significant shift toalternative stablecoinsover the next several hours, indicating trader concern about the two long-controversial companies.
However, when asked if he was concerned about allegations that Bitfinex hid the loss of $850 million, Zhao said he was not.
He cited events from his six years trading on the exchange as the reason for his confidence. “They did very well [after previous calamities] so I trust them,” Zhao said, referring to ahack in 2016and thefreezing of its fundsby Wells Fargo in 2017.
Zhao also argued that Tether’s model is safer than fractional reserve banking.
“Tell me, which bank is 100 percent reserved? Not even Tether is … fully reserved, [but] it’s much, much better than other banks,” he said. “Most banks only have 2-3 percent of reserves, for Tether even the $800 million [that] is lost, even that is [not all of their funds], they have 70 percent reserved.”
Pressed on the amount Tether has in reserves, Zhao added that he believes the company is 100 percent backed, “but even if they’re not, they’re much better than the banks.”
(It should be noted that banks in the U.S. have Federal Deposit Insurance Corporation insurance, covering customers’ funds up to $250,000 each in the event of a bank failure. More than140 other countrieshave similar arrangements, according to the International Association of Deposit Insurers.)
Nor is Zhao alone. Tian Jia, another shareholder, told CoinDesk Friday that he maintains his support for Bitfinex, and that he’s heard from all of its executives since the news broke late Thursday.
“They’re still there, they’re trying to solve problems,” he said. (CoinDesk has not received responses to multiple requests for comment from Bitfinex and Tether on the situation.)
That being said, Tian said he did not have any information that Bitfinex has not already made public, such as Bitfinex’s claimin a statement Thursday nightthat it plans to recover the funds. Unlike Zhao, Tian did not have a timeline for this recovery process.
Tian concluded:
“Because it is customers’ money, it’s not stolen cryptocurrency, it’s fiat. It can’t be stolen. It’s only frozen by the [regulators], and [Bitfinex is] trying to get it back by approaching Panama and the [U.S. Attorney General]. They have been communicating all along.”
Bitfineximage via Shutterstock
• US Government Returns Bitcoins Retrieved Following 2016 Bitfinex Hack
• Tether Says Customers Can Once Again Deposit and Redeem Fiat || ETrade is looking to unleash crypto onto its 5M retail clientele: ETrade, the massive retail brokerage firm, is looking to unleash crypto trading onto its 5 million person retail base, according to prominent New York Times crypto journalist Nathaniel Popper. In a tweet, Popper said the firm is preparing to offer ether and bitcoin trading. In the wake of TD Ameritrade quietly opening Bitcoin trading for some of its customers, I was just told that eTrade is preparing to begin offering both Bitcoin and Ether trading to its 5 million or so customers and is just finalizing a third party to actually hold the coins, Popper said. Rival TDAmeritrade, meanwhile, is looking to dive into retail crypto trading, as The Block reported earlier this week. || ETrade is looking to unleash crypto onto its 5M retail clientele: ETrade, the massive retail brokerage firm, is looking to unleash crypto trading onto its 5 million person retail base, according to prominent New York Times crypto journalist Nathaniel Popper. In a tweet, Popper said the firm is preparing to offer ether and bitcoin trading.
“In the wake of TD Ameritrade quietly opening Bitcoin trading for some of its customers, I was just told that eTrade is preparing to begin offering both Bitcoin and Ether trading to its 5 million or so customers and is just finalizing a third party to actually hold the coins,” Popper said.
Rival TDAmeritrade, meanwhile, is looking to dive into retail crypto trading, as The Blockreportedearlier this week. || Iran’s First Ever Bitcoin ATM Unveiled in Tehran: On April 24, 2019, the first bitcoin ATM in the Islamic Republic of Iran was revealed at the 12th International Exhibition of Exchange, Bank and Insurance in Tehran.
Footageof the event was captured by a film crew working for German news agencyRuptly, a part ofRussia Today’sgreater media network. Intrigued crowds were seen lining up to see the functionality of this machine, which was emblazoned with the message that the BTM was itself made in Iran, not wheeled into the conference from some overseas source.
Ruptlyalso interviewed both the demonstration’s presenters and random users on the experience. “I was happy, as a person who has Bitcoin, when I used it,” said Iranian citizen Elnaz Rahim. “I needed cash in Rial and it took me less than three minutes and I was very satisfied. I hope that we will be able to circumvent sanctions by it.”
Indeed, Iranian citizens have already seen the possibleuse casesof bitcoin to circumvent international sanctions. In December 2018, Iranian citizens studying abroad in the United Kingdom found themselves relying on bitcoin to pay their tuition, after recently imposed sanctions made it otherwise impossible.
The possibility of using bitcoin in this way is especially salient for Iranians, as punitive sanctions have beenpushingIran’s energy sector to the limit. With summertime heat waves pushing temperatures above awhopping127 degrees Fahrenheit, ways of circumventing these measures are becoming an especially important consideration as energy costs continue to increase.
WhenBitcoin Magazinehelped topassthe Lightning Torch (via Welsh bitcoiner Bitgeiniog) to an Iranian user in March, sanctions were a recurring point of concern, with Torch recipient Ziya Sadr calling bitcoin “a safe haven.”
April 2019 hasseenIran become a major area of interest for bitcoin miners from China. Although mining firms have found it difficult to get the necessary equipment into the country, they have nevertheless reported that the government is willing to offer lucrative deals on electricity costs in exchange for long-term investment in the nation’s power plants.
With over 220 companies participating, theTehran Timescalledthe exhibition “the most significant event in domestic capital market, banking and insurance sectors,” especiallyconsideringhow nearly 70 percent of the nation’s 81 million inhabitants are now internet users.
This article originally appeared onBitcoin Magazine. || Iran’s First Ever Bitcoin ATM Unveiled in Tehran: On April 24, 2019, the first bitcoin ATM in the Islamic Republic of Iran was revealed at the 12th International Exhibition of Exchange, Bank and Insurance in Tehran.
Footageof the event was captured by a film crew working for German news agencyRuptly, a part ofRussia Today’sgreater media network. Intrigued crowds were seen lining up to see the functionality of this machine, which was emblazoned with the message that the BTM was itself made in Iran, not wheeled into the conference from some overseas source.
Ruptlyalso interviewed both the demonstration’s presenters and random users on the experience. “I was happy, as a person who has Bitcoin, when I used it,” said Iranian citizen Elnaz Rahim. “I needed cash in Rial and it took me less than three minutes and I was very satisfied. I hope that we will be able to circumvent sanctions by it.”
Indeed, Iranian citizens have already seen the possibleuse casesof bitcoin to circumvent international sanctions. In December 2018, Iranian citizens studying abroad in the United Kingdom found themselves relying on bitcoin to pay their tuition, after recently imposed sanctions made it otherwise impossible.
The possibility of using bitcoin in this way is especially salient for Iranians, as punitive sanctions have beenpushingIran’s energy sector to the limit. With summertime heat waves pushing temperatures above awhopping127 degrees Fahrenheit, ways of circumventing these measures are becoming an especially important consideration as energy costs continue to increase.
WhenBitcoin Magazinehelped topassthe Lightning Torch (via Welsh bitcoiner Bitgeiniog) to an Iranian user in March, sanctions were a recurring point of concern, with Torch recipient Ziya Sadr calling bitcoin “a safe haven.”
April 2019 hasseenIran become a major area of interest for bitcoin miners from China. Although mining firms have found it difficult to get the necessary equipment into the country, they have nevertheless reported that the government is willing to offer lucrative deals on electricity costs in exchange for long-term investment in the nation’s power plants.
With over 220 companies participating, theTehran Timescalledthe exhibition “the most significant event in domestic capital market, banking and insurance sectors,” especiallyconsideringhow nearly 70 percent of the nation’s 81 million inhabitants are now internet users.
This article originally appeared onBitcoin Magazine. || Iran’s First Ever Bitcoin ATM Unveiled in Tehran: Iran ATM.jpg On April 24, 2019, the first bitcoin ATM in the Islamic Republic of Iran was revealed at the 12th International Exhibition of Exchange, Bank and Insurance in Tehran. Footage of the event was captured by a film crew working for German news agency Ruptly , a part of Russia Today’s greater media network. Intrigued crowds were seen lining up to see the functionality of this machine, which was emblazoned with the message that the BTM was itself made in Iran, not wheeled into the conference from some overseas source. Ruptly also interviewed both the demonstration’s presenters and random users on the experience. “I was happy, as a person who has Bitcoin, when I used it,” said Iranian citizen Elnaz Rahim. “I needed cash in Rial and it took me less than three minutes and I was very satisfied. I hope that we will be able to circumvent sanctions by it.” Indeed, Iranian citizens have already seen the possible use cases of bitcoin to circumvent international sanctions. In December 2018, Iranian citizens studying abroad in the United Kingdom found themselves relying on bitcoin to pay their tuition, after recently imposed sanctions made it otherwise impossible. The possibility of using bitcoin in this way is especially salient for Iranians, as punitive sanctions have been pushing Iran’s energy sector to the limit. With summertime heat waves pushing temperatures above a whopping 127 degrees Fahrenheit, ways of circumventing these measures are becoming an especially important consideration as energy costs continue to increase. When Bitcoin Magazine helped to pass the Lightning Torch (via Welsh bitcoiner Bitgeiniog) to an Iranian user in March, sanctions were a recurring point of concern, with Torch recipient Ziya Sadr calling bitcoin “a safe haven.” April 2019 has seen Iran become a major area of interest for bitcoin miners from China. Although mining firms have found it difficult to get the necessary equipment into the country, they have nevertheless reported that the government is willing to offer lucrative deals on electricity costs in exchange for long-term investment in the nation’s power plants. With over 220 companies participating, the Tehran Times called the exhibition “the most significant event in domestic capital market, banking and insurance sectors,” especially considering how nearly 70 percent of the nation’s 81 million inhabitants are now internet users. This article originally appeared on Bitcoin Magazine . || Bitcoin Price: 3 Catalysts Fueling the Crypto Market’s Next Titanic Rally: ByCCN: Ignore that Tether-inducedBitcoin pricesell-off. Why? Because Fundstrat Global Advisors’ Tom Lee says that crypto spring has sprung.
Speaking with CNBC, the Bitcoin bull revealed that proprietary Fundstrat analysis indicates that the flagship cryptocurrency has begun to storm into abull market.
Translation: prepare for the Bitcoin price to continue pounding higher.
According toTom Lee, three factors converge to confirm Bitcoin’s optimistic outlook.
The first sign relates to blockchain transaction volumes. Lee noted they finally turned positive on a year-over-year basis in late January.
A key indicator, BTC/USD smashing above its200-day moving average, is another wildly-positive sign. Lee said:
Read the full story on CCN.com. || Bitcoin Price: 3 Catalysts Fueling the Crypto Markets Next Titanic Rally: Tom Lee says there are three major catalysts launching the Bitcoin price into a bull market. | Source: Shutterstock By CCN : Ignore that Tether-induced Bitcoin price sell-off. Why? Because Fundstrat Global Advisors Tom Lee says that crypto spring has sprung. Speaking with CNBC, the Bitcoin bull revealed that proprietary Fundstrat analysis indicates that the flagship cryptocurrency has begun to storm into a bull market . Translation: prepare for the Bitcoin price to continue pounding higher. Bitcoin bull @Fundstrat 's Tom Lee says he has three signs crypto spring has sprung. Check it out pic.twitter.com/wSaKFQnIvw CNBC Futures Now (@CNBCFuturesNow) April 25, 2019 According to Tom Lee , three factors converge to confirm Bitcoins optimistic outlook. 1. Busy Blockchain The first sign relates to blockchain transaction volumes. Lee noted they finally turned positive on a year-over-year basis in late January. 2. The Bitcoin Prices Technical Indicators Scream Bullish A key indicator, BTC/USD smashing above its 200-day moving average , is another wildly-positive sign. Lee said: Read the full story on CCN.com . || Bitcoin Price: 3 Catalysts Fueling the Crypto Market’s Next Titanic Rally: ByCCN: Ignore that Tether-inducedBitcoin pricesell-off. Why? Because Fundstrat Global Advisors’ Tom Lee says that crypto spring has sprung.
Speaking with CNBC, the Bitcoin bull revealed that proprietary Fundstrat analysis indicates that the flagship cryptocurrency has begun to storm into abull market.
Translation: prepare for the Bitcoin price to continue pounding higher.
According toTom Lee, three factors converge to confirm Bitcoin’s optimistic outlook.
The first sign relates to blockchain transaction volumes. Lee noted they finally turned positive on a year-over-year basis in late January.
A key indicator, BTC/USD smashing above its200-day moving average, is another wildly-positive sign. Lee said:
Read the full story on CCN.com. || It Looks as if Another Darknet Market Era Is Coming to an End: It Looks as if Another Darknet Market Era Is Coming to an End Major darknet markets come and go in eras, so it seems, and the current one may be ending. Two of the biggest digital black markets both seem to be disappearing. While it is notoriously hard to find reliable information about the status of these highly illegal endeavors, messages on darknet-specific forums like Dread and reports by darknet-focused news sites like Deep Dot Web indicate that digital black markets Dream Market and Wall Street Market have become unusable. The former has halted trading altogether, while the latter appears to be confiscating user funds. Dream Market Darknet markets, the online market places for illicit goods and services that operate on the dark web and use bitcoin (and sometimes altcoins) for payments, have been around in their current form since 2011, when Ross Ulbricht founded Silk Road. Over the years, many markets have come and gone, and it appears that the days of the current market leaders are now coming to an end as well. Dream Market, the oldest operating and possibly biggest market on the dark web in recent years, was the first to show signs of trouble. According to Deep Dot Web , the marketplace was initially hard to reach, most likely due to ongoing distributed denial of service (DDoS) attacks on the website. The attacks appeared to exploit a weakness in the anonymizing Tor browser — needed to access the website — which made the cost of such an attack relatively low. While it is not certain who is behind the attacks, the reports , based on comments by pseudonymous Dread forum operator “HugBunter,” suggest that it was part of an extortion effort. The attacker seems to have demanded that the pseudonymous operator of Dream Market, “Speedstepper,” pay to make the attacks stop. “In one comment about a separate attack against Dread, HugBunter wrote that the entity behind the Dream Market attack had launched the attack in an attempt to extort the Dream Market administrator for 400,000 USD,” Deep Dot Web reports, noting that Speedstepper refused to pay. Story continues Others have suggested that law enforcement officials or a competing darknet market may have been responsible for the attacks, but this is just speculation at this point. For the past month, after about seven weeks of ongoing denial of service attacks, trading on Dream Market has been halted altogether. According to Deep Dot Web, quoting a Dream Market staff member, the DDoS attacks had become too big of a problem for the operators of the website. Users who logged into the marketplace were instead greeted with a message claiming that the darknet market is closing: “This market is shutting down on 04/30/2019 and is transferring its services to a partner company, onion address: weroidjkazxqds2l.onion (currently offline, opening soon).” Besides the somewhat mysterious message, not much is clear about Dream Market’s future. It’s unknown which partner company the message refers to or to what extent the current version of Dream Market will still be in use. Reports by Deep Dot Web (once again based on comments by Dread forum operator HugBunter) suggest the market may just be rebranding, but details are unclear. Speedstepper has not publicly commented on the issue. Even with trading halted, Dream Market users — while unable to trade on the website or make deposits — do appear to have been able to withdraw funds from their accounts. Wall Street Market and the End of an Era? With Dream Market shutting down all trade, users of the platform presumably went looking for replacement darknet markets. Many of them probably ended up at Wall Street Market, one of the biggest darknet markets next to Dream Market. But now, after several weeks, reports on Dread and Deep Dot Web claim that Wall Street Market is “exit scamming”: disappearing with users’ funds. With the inflow of new users from Dream Market, the amount of money stolen is reported to add up to $30 million. Wall Street Market itself claims “technical issues” — at the time of writing, a message on the website shows that it is down for maintenance, but many users are expressing doubts that this is true. One of the website’s administrators is even alleged to have blackmailed users, threatening to leak their identifying information to law enforcement. It’s not the first time that a group of darknet markets has disappeared around the same time. After the pioneering darknet market Silk Road was shut down by law enforcement in 2013, successors Silk Road 2.0, Cloud 9 and Hydra all suffered the same fate in November 2014, as part of an international law enforcement operation called “Operation Onymous.” The void was filled by Agora (which voluntarily shut down in 2015) and later AlphaBay, which in turn grew to be the dominant digital black market throughout 2015 and 2016. By 2017, however, AlphaBay was shut down by law enforcement as well. At that time, many users migrated to Hansa. Hansa, however, turned out to have already been taken over by Dutch police. In what was called “Operation Bayonet,” new users from AlphaBay were trapped into entering passwords and more potentially identifying information in the compromised version of the Hansa website. After several weeks, Hansa was finally closed down as well, meaning the two biggest darknet markets were taken down within a span of several weeks. Thus far, there is no indication that law enforcement has anything to do with the situation at Dream Market and Wall Street Market. No arrests have been made public, and both websites are technically still online — though dysfunctional. Darknet Growth Over the Years Although several of the biggest darknet markets have been shut down by law enforcement over the years, it has done little to stop trade on digital black markets overall. According to research by blockchain analytics firm Chainalysis, published in January 2019, darknet market activity almost doubled throughout 2018. After a slump in late 2017 due to the closure of AlphaBay and Hansa, trading volume had almost recovered to all-time high levels at the time of publication of the report, surpassing $600 million worth of bitcoin for the year. While bitcoin is still the main currency of choice on most darknet markets, the Chainalysis report does suggest that this type of activity has come to constitute a much smaller share of total bitcoin usage over time. Whereas up to 7 percent of transacted bitcoin value in 2012 and 2013 — the peak of the Silk Road — was related to darknet markets, this is now well below 1 percent, Chainalysis estimates. This article originally appeared on Bitcoin Magazine . || It Looks as if Another Darknet Market Era Is Coming to an End: Major darknet markets come and go in eras, so it seems, and the current one may be ending.
Two of the biggest digital black markets both seem to be disappearing. While it is notoriously hard to find reliable information about the status of these highly illegal endeavors, messages on darknet-specific forums like Dread and reports by darknet-focused news sites likeDeep Dot Webindicate that digital black markets Dream Market and Wall Street Market have become unusable. The former has halted trading altogether, while the latter appears to be confiscating user funds.
Darknet markets, the online market places for illicit goods and services that operate on the dark web and use bitcoin (and sometimes altcoins) for payments, have been around in their current form since 2011, when Ross Ulbricht founded Silk Road. Over the years, many markets have come and gone, and it appears that the days of the current market leaders are now coming to an end as well.
Dream Market, the oldest operating and possibly biggest market on the dark web in recent years, was the first to show signs of trouble. According toDeep Dot Web, the marketplace was initially hard to reach, most likely due to ongoing distributed denial of service (DDoS) attacks on the website. The attacks appeared to exploit a weakness in the anonymizing Tor browser — needed to access the website — which made the cost of such an attack relatively low.
While it is not certain who is behind the attacks, thereports, based on comments by pseudonymous Dread forum operator “HugBunter,” suggest that it was part of an extortion effort. The attacker seems to have demanded that the pseudonymous operator of Dream Market, “Speedstepper,” pay to make the attacks stop.
“In one comment about a separate attack against Dread, HugBunter wrote that the entity behind the Dream Market attack had launched the attack in an attempt to extort the Dream Market administrator for 400,000 USD,” Deep Dot Web reports, noting that Speedstepper refused to pay.
Others have suggested that law enforcement officials or a competing darknet market may have been responsible for the attacks, but this is just speculation at this point.
For the past month, after about seven weeks of ongoing denial of service attacks, trading on Dream Market has been halted altogether. According to Deep Dot Web, quoting a Dream Market staff member, the DDoS attacks had become too big of a problem for the operators of the website.
Users who logged into the marketplace were instead greeted with a message claiming that the darknet market is closing:
“This market is shutting down on 04/30/2019 and is transferring its services to a partner company, onion address: weroidjkazxqds2l.onion (currently offline, opening soon).”
Besides the somewhat mysterious message, not much is clear about Dream Market’s future. It’s unknown which partner company the message refers to or to what extent the current version of Dream Market will still be in use. Reports by Deep Dot Web (once again based on comments by Dread forum operator HugBunter) suggest the market may just be rebranding, but details are unclear. Speedstepper has not publicly commented on the issue.
Even with trading halted, Dream Market users — while unable to trade on the website or make deposits — do appear to have been able to withdraw funds from their accounts.
With Dream Market shutting down all trade, users of the platform presumably went looking for replacement darknet markets. Many of them probably ended up at Wall Street Market, one of the biggest darknet markets next to Dream Market.
But now, after several weeks,reportson Dread and Deep Dot Web claim that Wall Street Market is “exit scamming”: disappearing with users’ funds. With the inflow of new users from Dream Market, the amount of money stolen is reported to add up to $30 million. Wall Street Market itself claims “technical issues” — at the time of writing, a message on the website shows that it is down for maintenance, but many users are expressing doubts that this is true. One of the website’s administrators is even alleged to have blackmailed users, threatening to leak their identifying information to law enforcement.
It’s not the first time that a group of darknet markets has disappeared around the same time. After the pioneering darknet market Silk Road was shut down by law enforcement in 2013, successors Silk Road 2.0, Cloud 9 and Hydra all suffered the same fate in November 2014, as part of an international law enforcement operation called “Operation Onymous.” The void was filled by Agora (which voluntarily shut down in 2015) and later AlphaBay, which in turn grew to be the dominant digital black market throughout 2015 and 2016. By 2017, however, AlphaBay was shut down by law enforcement as well.
At that time, many users migrated to Hansa. Hansa, however, turned out to have already been taken over by Dutch police. In what was called “Operation Bayonet,” new users from AlphaBay were trapped into entering passwords and more potentially identifying information in the compromised version of the Hansa website. After several weeks, Hansa was finally closed down as well, meaning the two biggest darknet markets were taken down within a span of several weeks.
Thus far, there is no indication that law enforcement has anything to do with the situation at Dream Market and Wall Street Market. No arrests have been made public, and both websites are technically still online — though dysfunctional.
Although several of the biggest darknet markets have been shut down by law enforcement over the years, it has done little to stop trade on digital black markets overall. According toresearchby blockchain analytics firm Chainalysis, published in January 2019, darknet market activity almost doubled throughout 2018. After a slump in late 2017 due to the closure of AlphaBay and Hansa, trading volume had almost recovered to all-time high levels at the time of publication of the report, surpassing $600 million worth of bitcoin for the year.
While bitcoin is still the main currency of choice on most darknet markets, the Chainalysis report does suggest that this type of activity has come to constitute a much smaller share of total bitcoin usage over time. Whereas up to 7 percent of transacted bitcoin value in 2012 and 2013 — the peak of the Silk Road — was related to darknet markets, this is now well below 1 percent, Chainalysis estimates.
This article originally appeared onBitcoin Magazine. || Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, EOS, Binance Coin, Stellar, Cardano, TRON: Price Analysis April 26: The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, you should conduct your own research when making a decision.
Market data is provided by theHitBTCexchange.
While various cryptocurrencies are vying to attract investors attention, stablecoins have silently gained popularity. Currently, most stablecoins are pegged to the U.S. dollar. United Kingdom-based cryptocurrency payment processor Wirex has announced plans to launch stablecoins pegged tovariousfiat currencies. This, according to them, will allow “for swift, international remittance without the need for local liquidity providers.”
Manyprojectsare focused on ironing out issues in cross-border payments using blockchain technology. A prominent name among them is JPMorgan Chase (JPM), which has been able to attract more than220 banksacross the globe to its Interbank Information Network (IIN). JPM is working towards a quick resolution of the problems associated with international payments that get stuck.
Around20of the biggest traders in the crypto market met in January to discuss the steps needed to make the asset class more attractive to institutional investors. The next leg of growth will need the involvement of institutional players, but some institutions are still skeptical due to thestigmaattached to the asset class. However, if cryptocurrencies show a sustained recovery, many will be forced to take the plunge.
Bitcoin (BTC) is facing selling on a rebound from the 20-day EMA. This suggests profit booking by the bulls and probable short initiation by the bears. If the price slides below the 20-day EMA, it will indicate weakness and a fall to $4,914.11 will be on the cards. This is a major support. If this breaks down, the next stop is the 50-day SMA.
If the bulls defend the support zone between the 20-day EMA and $4,914.11, theBTC/USDpair will again try to resume its up move. The levels to watch on the upside are $5,600 and above it $5,900. We expect a strong resistance in this overhead zone. Hence, we recommended closing partial positions above $5,600 in ourpreviousanalysis.
Until then, the stop loss on the remaininglongpositions can be kept at $4,800. The pair is giving mixed signals. While the uptrending moving averages and the RSI in the positive territory are bullish, the developing negative divergence on the RSI is a red flag. The next few days are critical for the leading digital currency.
Ethereum (ETH) plunged below the 50-day SMA on April 25 and hit our stop loss on the remaininglongpositions at $150. Nonetheless, we like the way the bulls are attempting to bounce off the 50-day SMA. If they succeed in propelling the price back above $167.32, it will indicate that the current fall was a bear trap.
But if theETH/USDpair fails to scale above $167.32, the bears will again try to break down of the 50-day SMA. If successful, the pair can decline to $144.78 and below it a drop to the trendline of the ascending triangle pattern is probable.
The 20-day EMA has started to turn down and the RSI has dipped below 50. This suggests that the bears are staging a comeback. We will wait for the price to sustain above $167.32 before turning positive once again.
Ripple (XRP) has plummeted back into the channel and has dropped to the critical support of $0.27795. If this support breaks down, the next stop is the retest of the yearly low at $0.24508.
The moving averages have completed a bearish crossover and the RSI is close to the oversold levels. Though these are negative signals, we will disregard them because theXRP/USDpair is range bound.
The best way to trade in a range is to buy close to the bottom and sell at the resistance, but we suggest traders avoid buying now because the pair has been a huge underperformer in the past few days. This suggests a lack of buying interest.
Our bearish bias will prove to be incorrect if the digital currency bounces off sharply from the current levels and rises above the channel once again. We do not find any reliable buy setups at the current levels.
Bitcoin Cash (BCH) is trying to hold the critical support zone between $255 and $241.97. If this zone breaks down a fall to the 50-day SMA is probable. Below this level, the digital currency can complete a 100% retracement of the recent rally.
If the bulls defend the support zone and secure a strong bounce from it, theBCH/USDpair might remain range bound for a few days. The pair is at a critical level. As the pair has a history of vertical rallies and waterfall declines, we will wait for a buy setup to form before suggesting a long position in it.
Litecoin (LTC) has been taking support at the 50-day SMA for the past two days. Both the moving averages have flattened out and the RSI is just below the midpoint. This points to a consolidation in the near term.
Currently, the bears are facing selling at the 20-day EMA and the resistance line of the descending channel. If theLTC/USDpair breaks out of the channel, it can move up to $84.3439 and above it to $91.
On the contrary, if the bears sink the pair below the 50-day SMA, it can drop to $62.450. A breakdown of this support will turn the tide in favor of the bears. We will wait for the digital currency to form a bullish setup before suggesting a long position.
EOSis trying to take support at the 50-day SMA. The uptrend line of the rising wedge and the horizontal support of $4.4930 are also just below this level. Hence, we expect a strong defense by the bulls.
However, the 20-day EMA is sloping down and the RSI is in the negative territory, which shows that the bears are back in action. A breakdown of the wedge will be bearish and it has a pattern target of $2.80.
On the upside, a breakout of the 20-day EMA and the downtrend line will indicate strength. The targets on the upside are $5.6163 and above it $6.0726. We shall wait for theEOS/USDpair to sustain above the downtrend line before turning positive.
Binance Coin (BNB) is in a strong uptrend. It has again bounced off the 20-day EMA, which shows that the buyers are keen to support it on any dip. The bulls will again try to make a new high. On the previous three occasions, the price turned down from the resistance line. Hence, this is a major resistance to watch out for. If the cryptocurrency breaks out of the wedge, it will invalidate a bearish pattern, which is a bullish sign.
But if theBNB/USDpair fails to rise to new highs or sustain it, the bears will again try to pull it back to the 20-day EMA. The pair remains strong as long as it stays above the uptrend line of the wedge. A breakdown of the wedge will be the first warning that a deeper correction is likely.
For now, both the moving averages are trending up and the RSI is also in the positive territory. This suggests that the path of least resistance is to the upside. We will wait for the price to sustain new highs before suggesting a long position.
Stellar (XLM) broke below the uptrend line of the rising wedge pattern on April 25. This is a negative sign but the bulls are making an attempt to push the price back into the wedge. On the upside, they will face a stiff resistance at the moving averages and above it at $0.12039489.
If theXLM/USDpair fails to sustain above the uptrend line, it might turn down once again and break below the wedge. This will give it an immediate target of $0.080. The moving averages are on the verge of completing a bearish crossover, which shows that the bears are in command. We suggest traders wait for the pair to show some strength before initiating any long positions.
Cardano (ADA) continues to trade inside the descending channel. It has dipped to the 50-day SMA, which is a strong support. Though the bulls have managed to hold on to this level, they have not been able to secure a bounce. This shows a lack of urgency to buy at these levels.
The 20-day EMA has started to turn down and the RSI has dropped into the negative zone. If the support zone between the 50-day SMA and $0.063230 breaks down, it will indicate that the bears have the upper hand.
A breakout of the descending channel will be the first positive that can carry theADA/USDpair to $0.082952. We will wait for the price to scale $0.094256 to turn positive. Currently, we are neutral on the pair.
Tron (TRX) is trying to bounce off the support at $0.02094452. It is likely to face some resistance at the moving averages, above which it can move up to $0.02815521. The bulls have managed to push the price above $0.02815521 thrice in this year but they have not been able to sustain the breakout. This shows selling at higher levels. The digital currency might pick up momentum above $0.03278079.
On the other hand, if theTRX/USDpair fails to break out of the moving averages, the bears might again try to break down below $0.02094452. The next support on the downside is $0.01830, which is likely to hold. We will wait for the price to break out and sustain above the range before suggesting a trade in it.
Market data is provided by theHitBTCexchange. Charts for analysis are provided byTradingView.
• Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Binance Coin, Stellar, Cardano, TRON: Price Analysis April 24
• Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Binance Coin, Stellar, Cardano, TRON: Price Analysis April 22
• Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, EOS, Binance Coin, Stellar, Cardano, TRON: Price Analysis April 19
• Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Binance Coin, Stellar, Cardano, TRON: Price Analysis April 17
[Social Media Buzz]
Top 5 Cryptocurrencies - Current Prices
$BTC: $5,275.50 | Bitcoin -0.07%
$ETH: $159.32 | Ethereum -0.10%
$XRP: $0.298053814 | XRP +0.00%
$BCH: $265.53 | Bitcoin Cash -0.14%
$LTC: $72.72 | Litecoin -0.11% || #Doviz
-------------------
#USD : 5.9501
#EUR : 6.6242
#GBP : 7.6722
--------------------------------------
#BTC
-------------------
#Gobaba : 33864.80
#BtcTurk : 30995.00
#Koinim : 31300.00
#Paribu : 31000.00
#Koineks : 31629.98 || #Doviz
-------------------
#USD : 5.9501
#EUR : 6.6...
|
5285.14, 5247.35, 5350.73, 5402.70, 5505.28, 5768.29, 5831.17, 5795.71, 5746.81, 5829.50
|
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 32313.11, 33581.55, 34292.45, 35350.19, 37337.54, 39406.94, 39995.91, 40008.42, 42235.55, 41626.20, 39974.89, 39201.95, 38152.98, 39747.50, 40869.55, 42816.50, 44555.80, 43798.12, 46365.40, 45585.03, 45593.64, 44428.29, 47793.32, 47096.95, 47047.00, 46004.48, 44695.36, 44801.19, 46717.58, 49339.18, 48905.49, 49321.65, 49546.15, 47706.12, 48960.79, 46942.22, 49058.67, 48902.40, 48829.83, 47054.98, 47166.69, 48847.03, 49327.72, 50025.38, 49944.62, 51753.41, 52633.54, 46811.13, 46091.39, 46391.42, 44883.91, 45201.46, 46063.27, 44963.07, 47092.49, 48176.35, 47783.36, 47267.52, 48278.36, 47260.22, 42843.80, 40693.68, 43574.51, 44895.10, 42839.75, 42716.59, 43208.54, 42235.73, 41034.54, 41564.36, 43790.89, 48116.94, 47711.49, 48199.95, 49112.90, 51514.81, 55361.45, 53805.98, 53967.85, 54968.22, 54771.58, 57484.79, 56041.06, 57401.10, 57321.52, 61593.95, 60892.18, 61553.62, 62026.08, 64261.99.
|
[Bitcoin Technical Analysis for 2021-10-19]
Volume: 40471196346, RSI (14-day): 76.52, 50-day EMA: 51021.55, 200-day EMA: 44322.98
[Wider Market Context]
Gold Price: 1769.70, Gold RSI: 50.19
Oil Price: 82.96, Oil RSI: 77.51
[Recent News (last 7 days)]
Savings app Chip closes record breaking £12m crowdfund: Alex Latham and Simon Latham, Chip co-founders; Sharon Miles, Chip COO and Femi Kalejaiye, Crowdcube's senior equity campaign manager. Photo: Chip Digital savings app Chip has closed a bumper fundraising round of £11.5m ($16m, in a crowdfund of 12,954 investors. The round comes in at the biggest equity crowdfund of the year so far, as well as the biggest equity crowdfund held on Crowdcube of all time. A large portion of the fundraise came from the fintech's customer base. As part of the round, Chip raised £1m in under 10 minutes and hit £8.6+m in under 48 hours. "This is a huge validation of the strong position Chip is in, and our ambitions to build the next fintech unicorn," says founder and CEO Simon Rabin. Off the back of the crowdfund, the company added 6,500 new investors, growing its shareholder community to over 23,000. The savings app has taken a community-based approach to its growth over the past year, as those that use the app vote on changes and products they would like to see. Rabin says the company sees big banks as its competitors, as a low interest rate environment puts pressure on people's pockets. Rabin wants to build a global challenger bank to capitalise on the huge untapped potential of people's savings. Read more: UK contactless spending limit raised to £100 Chip currently offers banking services through a partnership with Clearbank and is the only non-bank that offers FSCS accounts. From a product perspective, were looking at more market-leading savings accounts, more investment funds, and more automatic investing," says Rabin. "We also have aggressive growth plans, across several marketing channels, as we aim to increase our user base further. Rabin also says that the next savings offerings could include cryptocurrency products, as interest in decentralised finance grows. Image: Chip Chips largest ever raise follows on from a year of aggressive growth that saw the company increase revenues 500% and create profitable unit economics. Read more: Bitcoin surges past $60,000 on hopes of US ETF The fintechs user base grew by more than 60% to over 400,000 while the total amount of saves processed swelled to over £640m. Story continues The company will use the capital to fuel growth activities across marketing, product and technology. Chip is also looking to significantly increase the size of the team as it eyes European expansion although the company has not disclosed which specific regions it will target first. Watch: Will Interest rates stay low forever? || Savings app Chip closes record breaking £12m crowdfund: Digital savings app Chip has closed a bumper fundraising round of £11.5m ($16m, in a crowdfund of 12,954 investors.
The round comes in at the biggest equity crowdfund of the year so far, as well as the biggest equity crowdfund held on Crowdcube of all time. A large portion of the fundraise came from the fintech's customer base.
As part of the round, Chip raised £1m in under 10 minutes and hit £8.6+m in under 48 hours.
"This is a huge validation of the strong position Chip is in, and our ambitions to build the next fintech unicorn," says founder and CEO Simon Rabin.
Off the back of the crowdfund, the company added 6,500 new investors, growing its shareholder community to over 23,000.
The savings app has taken a community-based approach to its growth over the past year, as those that use the app vote on changes and products they would like to see. Rabin says the company sees big banks as its competitors, as a low interest rate environment puts pressure on people's pockets. Rabin wants to build a global challenger bank to capitalise on the huge untapped potential of people's savings.
Read more:UK contactless spending limit raised to £100
Chip currently offers banking services through a partnership with Clearbank and is the only non-bank that offers FSCS accounts.
“From a product perspective, we’re looking at more market-leading savings accounts, more investment funds, and more automatic investing," says Rabin. "We also have aggressive growth plans, across several marketing channels, as we aim to increase our user base further.”
Rabin also says that the next savings offerings could include cryptocurrency products, as interest in decentralised finance grows.
Chip’s largest ever raise follows on from a year of aggressive growth that saw the company increase revenues 500% and create profitable unit economics.
Read more:Bitcoin surges past $60,000 on hopes of US ETF
The fintech’s user base grew by more than 60% to over 400,000 while the total amount of saves processed swelled to over £640m.
The company will use the capital to fuel growth activities across marketing, product and technology. Chip is also looking to significantly increase the size of the team as it eyes European expansion — although the company has not disclosed which specific regions it will target first.
Watch: Will Interest rates stay low forever? || Is There a Way To Short Bitcoin? Michael Burry of ‘The Big Short’ Fame Ponders Before Quitting Twitter: Days beforeBitcoin hit an all-time high last Friday, exceeding $60,000, “The Big Short” investor Michael Burry pondered in a tweet, “How do you short a cryptocurrency?” Burry deleted his Twitter account shortly after asking the Twitter community on Wednesday, “Do you have to secure a borrow? Is there a short rebate? Can the position be squeezed and called in? In such volatile situations, I tend to think it’s best not to short, but I’m thinking out loud here.”
Previously:Michael Burry of ‘The Big Short’ Fame Bets Big Against Cathie Wood’s ARKLearn More:‘Rich Dad’ Author Robert Kiyosaki Recommends Bitcoin Investments Before ‘Biggest Crash in History’
Burry clarified to CNBC Friday, “I’ve not been shorting cryptocurrencies at all. And I’m not now …” However, he said that he believes cryptocurrencies, including Bitcoin, are in a bubble and that “most in it do not understand it well.”
It’s not the first time Burry has made incendiary or controversial claims and then deleted his Twitter account, Fortune pointed out. In April, Burry warned about a financial market crash and then deleted his account. He returned for a week in June to warn of a massive bubble and market crash, then vanished from the social network yet again.
Related:How to Short a Stock — and Why You Shouldn’t
Earlier this year, the Securities and Exchange Commission started taking a closer look at Burry’s social network activities, Fortune reported. The regulatory group started peering into the actions of Scion Asset Management, Burry’s investment firm.
Burry’s claims, in the past, have not been completely off the mark. Burry predicted the 2008 housing bubble, crash and resulting financial crisis.
As of midday Monday, Bitcoin has dropped from its high point to $61,866.30. But as the first Bitcoin futures-based ETF is set to debut on the New York Stock Exchange tomorrow, according to CNBC, Bitcoin could continue to climb.
See:What Is the Next Big Cryptocurrency To Explode in 2021?Find:10 Cheap Cryptocurrencies To Buy
ETFs, after all, will lend further legitimacy to cryptocurrency. Ian Balina, CEO of the data and analytics firm Token Metrics, told CNBC that crypto ETFs “will beprobably the biggest endorsement from the SEC for crypto.” He added, “This will be a floodgate of new capital and new people into the space.”
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• How Long $500K Will Last in Retirement in Each State
Last updated: October 18, 2021
This article originally appeared onGOBankingRates.com:Is There a Way To Short Bitcoin? Michael Burry of ‘The Big Short’ Fame Ponders Before Quitting Twitter || Is There a Way To Short Bitcoin? Michael Burry of ‘The Big Short’ Fame Ponders Before Quitting Twitter: Dave Allocca/Starpix/Shutterstock Days before Bitcoin hit an all-time high last Friday, exceeding $60,000 , “The Big Short” investor Michael Burry pondered in a tweet, “How do you short a cryptocurrency?” Burry deleted his Twitter account shortly after asking the Twitter community on Wednesday, “Do you have to secure a borrow? Is there a short rebate? Can the position be squeezed and called in? In such volatile situations, I tend to think it’s best not to short, but I’m thinking out loud here.” Previously: Michael Burry of ‘The Big Short’ Fame Bets Big Against Cathie Wood’s ARK Learn More: ‘Rich Dad’ Author Robert Kiyosaki Recommends Bitcoin Investments Before ‘Biggest Crash in History’ Burry clarified to CNBC Friday, “I’ve not been shorting cryptocurrencies at all. And I’m not now …” However, he said that he believes cryptocurrencies, including Bitcoin, are in a bubble and that “most in it do not understand it well.” It’s not the first time Burry has made incendiary or controversial claims and then deleted his Twitter account, Fortune pointed out. In April, Burry warned about a financial market crash and then deleted his account. He returned for a week in June to warn of a massive bubble and market crash, then vanished from the social network yet again. Related: How to Short a Stock — and Why You Shouldn’t Earlier this year, the Securities and Exchange Commission started taking a closer look at Burry’s social network activities, Fortune reported. The regulatory group started peering into the actions of Scion Asset Management, Burry’s investment firm. Burry’s claims, in the past, have not been completely off the mark. Burry predicted the 2008 housing bubble, crash and resulting financial crisis. As of midday Monday, Bitcoin has dropped from its high point to $61,866.30. But as the first Bitcoin futures-based ETF is set to debut on the New York Stock Exchange tomorrow, according to CNBC, Bitcoin could continue to climb. See: What Is the Next Big Cryptocurrency To Explode in 2021? Find: 10 Cheap Cryptocurrencies To Buy Story continues ETFs, after all, will lend further legitimacy to cryptocurrency. Ian Balina, CEO of the data and analytics firm Token Metrics, told CNBC that crypto ETFs “will be probably the biggest endorsement from the SEC for crypto .” He added, “This will be a floodgate of new capital and new people into the space.” More From GOBankingRates 5 Things Most Americans Don’t Know About Social Security 8 Ways Homeowners Can Save $1000s Every Year 8 Best Cryptocurrencies To Invest In for 2021 How Long $500K Will Last in Retirement in Each State Last updated: October 18, 2021 This article originally appeared on GOBankingRates.com : Is There a Way To Short Bitcoin? Michael Burry of ‘The Big Short’ Fame Ponders Before Quitting Twitter || Is There a Way To Short Bitcoin? Michael Burry of ‘The Big Short’ Fame Ponders Before Quitting Twitter: Days beforeBitcoin hit an all-time high last Friday, exceeding $60,000, “The Big Short” investor Michael Burry pondered in a tweet, “How do you short a cryptocurrency?” Burry deleted his Twitter account shortly after asking the Twitter community on Wednesday, “Do you have to secure a borrow? Is there a short rebate? Can the position be squeezed and called in? In such volatile situations, I tend to think it’s best not to short, but I’m thinking out loud here.”
Previously:Michael Burry of ‘The Big Short’ Fame Bets Big Against Cathie Wood’s ARKLearn More:‘Rich Dad’ Author Robert Kiyosaki Recommends Bitcoin Investments Before ‘Biggest Crash in History’
Burry clarified to CNBC Friday, “I’ve not been shorting cryptocurrencies at all. And I’m not now …” However, he said that he believes cryptocurrencies, including Bitcoin, are in a bubble and that “most in it do not understand it well.”
It’s not the first time Burry has made incendiary or controversial claims and then deleted his Twitter account, Fortune pointed out. In April, Burry warned about a financial market crash and then deleted his account. He returned for a week in June to warn of a massive bubble and market crash, then vanished from the social network yet again.
Related:How to Short a Stock — and Why You Shouldn’t
Earlier this year, the Securities and Exchange Commission started taking a closer look at Burry’s social network activities, Fortune reported. The regulatory group started peering into the actions of Scion Asset Management, Burry’s investment firm.
Burry’s claims, in the past, have not been completely off the mark. Burry predicted the 2008 housing bubble, crash and resulting financial crisis.
As of midday Monday, Bitcoin has dropped from its high point to $61,866.30. But as the first Bitcoin futures-based ETF is set to debut on the New York Stock Exchange tomorrow, according to CNBC, Bitcoin could continue to climb.
See:What Is the Next Big Cryptocurrency To Explode in 2021?Find:10 Cheap Cryptocurrencies To Buy
ETFs, after all, will lend further legitimacy to cryptocurrency. Ian Balina, CEO of the data and analytics firm Token Metrics, told CNBC that crypto ETFs “will beprobably the biggest endorsement from the SEC for crypto.” He added, “This will be a floodgate of new capital and new people into the space.”
More From GOBankingRates
• 5 Things Most Americans Don’t Know About Social Security
• 8 Ways Homeowners Can Save $1000s Every Year
• 8 Best Cryptocurrencies To Invest In for 2021
• How Long $500K Will Last in Retirement in Each State
Last updated: October 18, 2021
This article originally appeared onGOBankingRates.com:Is There a Way To Short Bitcoin? Michael Burry of ‘The Big Short’ Fame Ponders Before Quitting Twitter || Invesco Drops Efforts to Launch Bitcoin Futures ETF: Would-be bitcoin exchange-traded fund (ETF) issuer Invesco is pulling out of the race to issue a bitcoin futures product.
The company said Monday that it would no longer attempt to launch an ETF linked to bitcoin futures, a day before a competing product by fellow issuer ProSharesbegins trading.
The company could not immediately be reached for comment. However, a spokesperson toldBloombergin a statement that it would continue efforts to launch a physical bitcoin ETF.
“We have determined not to pursue the launch of a Bitcoin futures ETF in the immediate near-term; however we will continue to work in partnership with Galaxy Digital to offer investors full shelf of products with exposure to this transformative asset class, including pursuing a physically backed, digital asset ETF,” the statement said in full.
A bitcoin futures ETF, such as the one that will begin trading on Tuesday, tracks the price of CME’s bitcoin futures, rather than the price of bitcoin directly. A physical bitcoin ETF would track the underlying cryptocurrency’s price.
While there may not be a huge difference in returns in the short-term, the returns might diverge by a few percentage points over the course of a year. Still bitcoin futures ETFs are likely the only crypto ETF products to launch in the U.S. at the moment. SEC Chair Gary Gensler has expressed a preference for futures ETFs due to the investor protections outlined by the law that governs these ETFs.
Invesco has yet to file a notice with the SEC formally withdrawing the ETF filing. AfilingMonday announced that it was delaying the effective date of its Bitcoin Strategy ETF, the name of its futures fund, to the end of October. These filings are typically filed by issuers if they have yet to secure all of the necessary permissions to launch an ETF.
Daniel Nelson contributed reporting. || Invesco Drops Efforts to Launch Bitcoin Futures ETF: Would-be bitcoin exchange-traded fund (ETF) issuer Invesco is pulling out of the race to issue a bitcoin futures product.
The company said Monday that it would no longer attempt to launch an ETF linked to bitcoin futures, a day before a competing product by fellow issuer ProSharesbegins trading.
The company could not immediately be reached for comment. However, a spokesperson toldBloombergin a statement that it would continue efforts to launch a physical bitcoin ETF.
“We have determined not to pursue the launch of a Bitcoin futures ETF in the immediate near-term; however we will continue to work in partnership with Galaxy Digital to offer investors full shelf of products with exposure to this transformative asset class, including pursuing a physically backed, digital asset ETF,” the statement said in full.
A bitcoin futures ETF, such as the one that will begin trading on Tuesday, tracks the price of CME’s bitcoin futures, rather than the price of bitcoin directly. A physical bitcoin ETF would track the underlying cryptocurrency’s price.
While there may not be a huge difference in returns in the short-term, the returns might diverge by a few percentage points over the course of a year. Still bitcoin futures ETFs are likely the only crypto ETF products to launch in the U.S. at the moment. SEC Chair Gary Gensler has expressed a preference for futures ETFs due to the investor protections outlined by the law that governs these ETFs.
Invesco has yet to file a notice with the SEC formally withdrawing the ETF filing. AfilingMonday announced that it was delaying the effective date of its Bitcoin Strategy ETF, the name of its futures fund, to the end of October. These filings are typically filed by issuers if they have yet to secure all of the necessary permissions to launch an ETF.
Daniel Nelson contributed reporting. || Invesco Drops Efforts to Launch Bitcoin Futures ETF: Would-be bitcoin exchange-traded fund (ETF) issuer Invesco is pulling out of the race to issue a bitcoin futures product. The company said Monday that it would no longer attempt to launch an ETF linked to bitcoin futures, a day before a competing product by fellow issuer ProShares begins trading . The company could not immediately be reached for comment. However, a spokesperson told Bloomberg in a statement that it would continue efforts to launch a physical bitcoin ETF. “We have determined not to pursue the launch of a Bitcoin futures ETF in the immediate near-term; however we will continue to work in partnership with Galaxy Digital to offer investors full shelf of products with exposure to this transformative asset class, including pursuing a physically backed, digital asset ETF,” the statement said in full. A bitcoin futures ETF, such as the one that will begin trading on Tuesday, tracks the price of CME’s bitcoin futures, rather than the price of bitcoin directly. A physical bitcoin ETF would track the underlying cryptocurrency’s price. While there may not be a huge difference in returns in the short-term, the returns might diverge by a few percentage points over the course of a year. Still bitcoin futures ETFs are likely the only crypto ETF products to launch in the U.S. at the moment. SEC Chair Gary Gensler has expressed a preference for futures ETFs due to the investor protections outlined by the law that governs these ETFs. Invesco has yet to file a notice with the SEC formally withdrawing the ETF filing. A filing Monday announced that it was delaying the effective date of its Bitcoin Strategy ETF, the name of its futures fund, to the end of October. These filings are typically filed by issuers if they have yet to secure all of the necessary permissions to launch an ETF. Daniel Nelson contributed reporting. || Unloading container ships faster in the US is pushing supply chain woes onto trucks: An aerial photo shows shipping containers loaded onto trucks at Harbor Island at the Port of Seattle in 2019. Last week, the Biden administration announced that the Port of Los Angeles, the country’s busiest container port, will operate on a 24/7 schedule to clear the backlog of ships jammed in the San Pedro Bay. The move is meant to loosen chokepoints as the US’s beleaguered supply chain limps toward the Christmas season . The reaction in the industry has been tempered, seeing the move as a welcome first step but unlikely to be transformative. The CEO of one trade group characterized the announcement to CNN as “ low-hanging fruit ” and a “relatively obvious next step,” but one that would not solve the related problem of driver and equipment shortages in trucking. Xi Jinping’s vision for China does not involve workers “lying flat” The Port of LA won’t be the first in the US to operate a 24-hour schedule and they don’t have to look far for cautionary tales. Savannah’s 24-hour port has some 80,000 containers piling up at its docks, and the Port of Long Beach, right next to the Port of LA, switched to a 24/7 schedule in September. While longshore workers were willing to work a third shift, operating the cranes to pull containers off ships at a faster rate, the Wall Street Journal found that two weeks after the change, no additional truck drivers showed up to move the containers out of the docks. Drayage trucking is the next link on the supply chain after containers are pulled off a ship, and refers to the short distances the vehicles travel. Pressure on the supply chain is straining the equipment, and drivers are contending with shortages of tires and chassis, the wheeled metal frames that carry containers from the dockyard to railheads or distribution warehouses for their journeys inland. The roads the trucks drive on are crumbling—one freight forwarder said they lose half a dozen chassis a week to the deep potholes outside the ports. According to the Pool of Pools, which aggregates information from the marine chassis operators of the Ports of Long Beach and Los Angeles, of the port’s 58,000 chassis, 2,158 (pdf) are currently broken, and the specialized mechanics who fix them are likewise in short supply. Story continues Bitcoin closed in on a record high after a US bitcoin ETF started trading Meanwhile, the strains on the supply chain have made a grueling job , in which recruiting and retention have long been a problem , even less attractive. In an opinion piece for Transport Dive, an industry outlet, Nimesh Modi, CEO of BookYourCargo, a drayage service provider, described the shifts of short-haul truck drivers that start at 3am with hours spent in a wearying miles-long stop-start line at the port to pick up containers. Once they’re loaded, they go out into the roads to inch through LA’s notorious traffic, unload at a warehouse or railhead, and turn around to do it all over again. Add a few dozen frenzied calls from shippers demanding to know where their goods are and why they’re late —chassis are spending up to 9 days in street dwell , up from about 3 days pre-pandemic—and it’s no surprise that truck drivers are also part of the great resignation . The Biden administration acknowledges that increasing port operations alone isn’t a panacea, and officials hope to smooth the pipeline for hiring new drivers by making it easier to apply for commercial driver’s licenses. They point out that each month in 2021, an average of 50,000 commercial licenses and permits have been issued, a 60% increase from the previous year. Despite the Biden’s administration’s efforts, supply chain issues are far from over. An analysis of earnings call transcripts by Bloomberg found that use of the phrase “supply chain” has exploded, to a record high of about 3,000 so far this year, up from a low of about 470 in 2008. With shortages piling up, it’s safe to assume it’s not because executives have anything upbeat to say about them. Sign up for the Quartz Daily Brief , our free daily newsletter with the world’s most important and interesting news. More stories from Quartz: The Indian government is testing blockchain technology to streamline its logistics industry China is the engine for global economic growth. What happens if it slows down? || Unloading container ships faster in the US is pushing supply chain woes onto trucks: An aerial photo shows shipping containers loaded onto trucks at Harbor Island at the Port of Seattle in 2019. Last week, the Biden administration announced that the Port of Los Angeles, the country’s busiest container port, will operate on a 24/7 schedule to clear the backlog of ships jammed in the San Pedro Bay. The move is meant to loosen chokepoints as the US’s beleaguered supply chain limps toward the Christmas season . The reaction in the industry has been tempered, seeing the move as a welcome first step but unlikely to be transformative. The CEO of one trade group characterized the announcement to CNN as “ low-hanging fruit ” and a “relatively obvious next step,” but one that would not solve the related problem of driver and equipment shortages in trucking. Xi Jinping’s vision for China does not involve workers “lying flat” The Port of LA won’t be the first in the US to operate a 24-hour schedule and they don’t have to look far for cautionary tales. Savannah’s 24-hour port has some 80,000 containers piling up at its docks, and the Port of Long Beach, right next to the Port of LA, switched to a 24/7 schedule in September. While longshore workers were willing to work a third shift, operating the cranes to pull containers off ships at a faster rate, the Wall Street Journal found that two weeks after the change, no additional truck drivers showed up to move the containers out of the docks. Drayage trucking is the next link on the supply chain after containers are pulled off a ship, and refers to the short distances the vehicles travel. Pressure on the supply chain is straining the equipment, and drivers are contending with shortages of tires and chassis, the wheeled metal frames that carry containers from the dockyard to railheads or distribution warehouses for their journeys inland. The roads the trucks drive on are crumbling—one freight forwarder said they lose half a dozen chassis a week to the deep potholes outside the ports. According to the Pool of Pools, which aggregates information from the marine chassis operators of the Ports of Long Beach and Los Angeles, of the port’s 58,000 chassis, 2,158 (pdf) are currently broken, and the specialized mechanics who fix them are likewise in short supply. Story continues Bitcoin closed in on a record high after a US bitcoin ETF started trading Meanwhile, the strains on the supply chain have made a grueling job , in which recruiting and retention have long been a problem , even less attractive. In an opinion piece for Transport Dive, an industry outlet, Nimesh Modi, CEO of BookYourCargo, a drayage service provider, described the shifts of short-haul truck drivers that start at 3am with hours spent in a wearying miles-long stop-start line at the port to pick up containers. Once they’re loaded, they go out into the roads to inch through LA’s notorious traffic, unload at a warehouse or railhead, and turn around to do it all over again. Add a few dozen frenzied calls from shippers demanding to know where their goods are and why they’re late —chassis are spending up to 9 days in street dwell , up from about 3 days pre-pandemic—and it’s no surprise that truck drivers are also part of the great resignation . The Biden administration acknowledges that increasing port operations alone isn’t a panacea, and officials hope to smooth the pipeline for hiring new drivers by making it easier to apply for commercial driver’s licenses. They point out that each month in 2021, an average of 50,000 commercial licenses and permits have been issued, a 60% increase from the previous year. Despite the Biden’s administration’s efforts, supply chain issues are far from over. An analysis of earnings call transcripts by Bloomberg found that use of the phrase “supply chain” has exploded, to a record high of about 3,000 so far this year, up from a low of about 470 in 2008. With shortages piling up, it’s safe to assume it’s not because executives have anything upbeat to say about them. Sign up for the Quartz Daily Brief , our free daily newsletter with the world’s most important and interesting news. More stories from Quartz: The Indian government is testing blockchain technology to streamline its logistics industry China is the engine for global economic growth. What happens if it slows down? || Greed Postpones Cardano until Q1 2022 to Launch the Binance Blockchain part of the Ecosystem Sunday October 24th: Greed pushes launch on Cardano off until Q1 2022. The Greed Ecosystem encompasses many crypto utilities on multi-chain platforms. Greed is launching the BSC part of the ecosystem Sunday October 24th
Miami, Florida, Oct. 18, 2021 (GLOBE NEWSWIRE) -- The Greed Ecosystem, founded by Grammy Award winning producers Cool & Dre and lead developer Peter Parente (Captain Awesome) will be postponing theCardanoBlockchain launch until the first quarter of 2022. We originally hoped to launch on Cardano closer to the September 12thDate when they released their smart contracts, but the longer they delay to go live because of scalability issues the more concerned our developers became with how the congestion would be handled when live. These issues caused our techs to become more cautious and warned that once live they would still want an ample amount of time to see how the blockchain kept up with processing the volume of all the new smart contracts launching at the same time. That would put earliest launch happening going into the holidays and missing out on the beginning of the bull run. Our team had every scenario planned out and were able to shift gears and take advantage of the current situation.
Greed Postpones Cardano until Q1 2022 to Launch the Binance Blockchain part of the Ecosystem Sunday October 24th
The Greed Ecosystem encompasses many crypto utilities on multichain platforms with launchpads, swaps, staking, farms, the metaverse and an NFT marketplace that are all synergistic. Greed Music is the core of the ecosystem with Cool & Dre doing what they do best, music. Cool & Dre have been pioneers in music for over two decades and they just produced the number 1 most added record in the country for Wale feat: J Cole “Poke It Out”
Greed isn’t just a token, but a whole ecosystem and rather than just put everything on hold until Cardano was stable we saw the best opportunity to launch on the already built BSC platform taking advantage of the start of the bull run. Greed will be launching its BSC part of the ecosystem on theBinanceblockchain on Sunday October 24thonPancakeSwapand GreedSwap. The presale will be Saturday October 23rdon the hottest launchpad for BSC tokens,PinkSale. PinkSale will also be hosting an “Ask Me Anything” AMA with the Greed team on Thursday October 21 at 9:00 PM UTC / 5:00 PM in their telegramhttps://t.me/pinkecosystem. Anyone can join who wants to hear more about Greed from the Lead Developer, Peter Parente, Cool & Dre. They will also be there to answer any questions.
Let’s not forget Greed’s pup,$BabyDogeInuis also part of the ecosystem known as the HODL token. Baby Doge Inu is “The Crypto Love Child of DOGE and SHIB.” This is a rewards token giving back 8% reflections of each buy and sell transaction to his holders. Baby Doge Inu currently has a crypto game in beta testing at the Apple and Google Play stores. In the the game the pup is being chased by BNB, BTC and ETH while he collects rewards. To upgrade your character or vehicle you purchase a collectible NFTs and when held in your wallet you can use those upgrades. All the Greed NFT’s are showcased though out the game. When Greed launches he will not only be supporting his pup with crypto utility, but 1% of Greed’s buys and sells will go into buying Baby Doge Inu as well.
Not Investment Advice
The information provided in this release is not investment advice, financial advice or trading advice. It is recommended that you practice due diligence (including consultation with a professional financial advisor before investing or trading securities and cryptocurrency.
Information Accuracy
All the information provided is subject to change at any time due to market conditions or source retractions including editorial modifications.
For more information, press only:
Peter Parente
Email:info@greedtoken.comFor more information:
www.greedtoken.com || Greed Postpones Cardano until Q1 2022 to Launch the Binance Blockchain part of the Ecosystem Sunday October 24th: Greed pushes launch on Cardano off until Q1 2022. The Greed Ecosystem encompasses many crypto utilities on multi-chain platforms. Greed is launching the BSC part of the ecosystem Sunday October 24th Miami, Florida, Oct. 18, 2021 (GLOBE NEWSWIRE) -- The Greed Ecosystem, founded by Grammy Award winning producers Cool & Dre and lead developer Peter Parente (Captain Awesome) will be postponing the Cardano Blockchain launch until the first quarter of 2022. We originally hoped to launch on Cardano closer to the September 12 th Date when they released their smart contracts, but the longer they delay to go live because of scalability issues the more concerned our developers became with how the congestion would be handled when live. These issues caused our techs to become more cautious and warned that once live they would still want an ample amount of time to see how the blockchain kept up with processing the volume of all the new smart contracts launching at the same time. That would put earliest launch happening going into the holidays and missing out on the beginning of the bull run. Our team had every scenario planned out and were able to shift gears and take advantage of the current situation. Greed Postpones Cardano until Q1 2022 to Launch the Binance Blockchain part of the Ecosystem Sunday October 24th The Greed Ecosystem encompasses many crypto utilities on multichain platforms with launchpads, swaps, staking, farms, the metaverse and an NFT marketplace that are all synergistic. Greed Music is the core of the ecosystem with Cool & Dre doing what they do best, music. Cool & Dre have been pioneers in music for over two decades and they just produced the number 1 most added record in the country for Wale feat: J Cole Poke It Out Greed isnt just a token, but a whole ecosystem and rather than just put everything on hold until Cardano was stable we saw the best opportunity to launch on the already built BSC platform taking advantage of the start of the bull run. Greed will be launching its BSC part of the ecosystem on the Binance blockchain on Sunday October 24 th on PancakeSwap and GreedSwap. The presale will be Saturday October 23 rd on the hottest launchpad for BSC tokens, PinkSale . PinkSale will also be hosting an Ask Me Anything AMA with the Greed team on Thursday October 21 at 9:00 PM UTC / 5:00 PM in their telegram https://t.me/pinkecosystem . Anyone can join who wants to hear more about Greed from the Lead Developer, Peter Parente, Cool & Dre. They will also be there to answer any questions. Story continues Lets not forget Greeds pup, $BabyDogeInu is also part of the ecosystem known as the HODL token. Baby Doge Inu is The Crypto Love Child of DOGE and SHIB. This is a rewards token giving back 8% reflections of each buy and sell transaction to his holders. Baby Doge Inu currently has a crypto game in beta testing at the Apple and Google Play stores. In the the game the pup is being chased by BNB, BTC and ETH while he collects rewards. To upgrade your character or vehicle you purchase a collectible NFTs and when held in your wallet you can use those upgrades. All the Greed NFTs are showcased though out the game. When Greed launches he will not only be supporting his pup with crypto utility, but 1% of Greeds buys and sells will go into buying Baby Doge Inu as well. Not Investment Advice The information provided in this release is not investment advice, financial advice or trading advice. It is recommended that you practice due diligence (including consultation with a professional financial advisor before investing or trading securities and cryptocurrency. Information Accuracy All the information provided is subject to change at any time due to market conditions or source retractions including editorial modifications. For more information, press only: Peter Parente Email: info@greedtoken.com For more information: www.greedtoken.com || Kevin O’Leary sees ‘trillions’ coming to crypto — but he still loves these dividend stocks: Kevin O’Leary sees ‘trillions’ coming to crypto — but he still loves these dividend stocks “For the first time ever, my crypto exposure is greater than gold.” That’s what investment mogul and Shark Tank personality Kevin O’Leary told Stansberry Research in an interview earlier this month. In fact, Mr. Wonderful plans to double his crypto holdings to 7% of his portfolio by the end of this year, largely because he sees “trillions of dollars” of interest coming into the space. That said, O’Leary’s largest investment fund, O’Shares U.S. Quality Dividend ETF (OUSA), doesn’t invest in crypto at all — instead, it seeks businesses with strong profitability, balance sheets, and dividend growth. While Bitcoin is certainly becoming mainstream, it’s still important to maintain ample diversification with income-producing stocks. Let’s take a look at the top three holdings of O’Leary’s flagship fund. One (or all) of these dividend picks might be worth purchasing with your spare change . Home Depot Sundry Photography/Shutterstock Home Depot (NYSE:HD) isn’t nearly as exciting as crypto, but it’s the top holding at OUSA, accounting for 5.3% of the fund’s weight. The home improvement retail giant has around 2,300 stores, with each one averaging approximately 105,000 square feet of indoor retail space — a size that dwarfs most of its competitors. One thing that makes Home Depot stand out is how well it performed during the pandemic. Many brick-and-mortar retailers have struggled since the beginning of COVID-19. Yet Home Depot grew its sales nearly 20% in fiscal 2020 to $132.1 billion. It even boosted its quarterly dividend by 10% earlier this year and now yields 1.9%. Shares aren’t cheap, though. After rallying more than 30% year to date, Home Depot trades at over $350 per share. But you can get a piece of the company using a popular stock trading app that allows you to buy fractions of shares with as much money as you are willing to spend. Microsoft Volodymyr Kyrylyuk/Shutterstock Tech stocks aren’t known for their dividends, but software gorilla **Microsoft ** (Nasdaq:MSFT) is an exception. The company announced an 11% increase to its quarterly dividend to 62 cents per share last month. Over the past five years, its payout has grown by 59%. Story continues So it shouldn’t come as a surprise that Microsoft is the second largest holding in O’Leary’s OUSA. Business has been booming of late, largely helped by the pandemic-fueled demand for its cloud-computing and video gaming products. Year to date, Microsoft shares have returned a whopping 40%, easily topping other trillion-dollar tech giants like Apple (11.8%) and Amazon (7%). Of course, if you’re on the fence about jumping into tech stocks near all-time highs, some investing apps will give you a free share of Apple just for signing up. Johnson & Johnson Golden Shrimp/Shutterstock Healthcare is known as a recession-proof industry. With deeply entrenched positions in consumer health, pharmaceuticals, and medical devices, Johnson & Johnson (NYSE:JNJ) has been able to deliver remarkably consistent returns to investors through thick and thin. Not only does Johnson & Johnson post recurring profits year in and year out, but it grows them consistently, as well: Over the last 20 years, Johnson & Johnson’s adjusted earnings have increased at an average annual rate of 8%. Things are even better on the dividend front — the healthcare giant has raised its payout to shareholders for 59 consecutive years. Not many companies have that kind of track record. Year to date, shares are up just 3%. But for long-term investors, Johnson & Johnson is a name that should not be ignored. The company is the third-largest holding in OUSA with a weighting of 4.9%. O’Leary’s other ‘fine’ asset Giorgiolo/Shutterstock Gold, crypto, and common stocks aren’t the only things you’ll find in Mr. Wonderful’s portfolio. He also utilizes a "private" way to diversify and to profit. If you want to invest in something that has very little correlation with the violent swings of the stock and crypto market, consider this overlooked asset — fine art . Investing in fine art by the likes of Banksy and Andy Warhol used to be an option only for the ultra-rich like O’Leary. But with a new investing platform , you can invest in iconic artworks too, just like Jeff Bezos and Peggy Guggenheim. According to the Citi Global Art Market chart, contemporary artwork has offered a return of 14% per year over the past 25 years, easily topping the 9.5% annual return from the S&P 500. This article provides information only and should not be construed as advice. It is provided without warranty of any kind. || Kevin O’Leary sees ‘trillions’ coming to crypto — but he still loves these dividend stocks: “For the first time ever, my crypto exposure is greater than gold.”
That’s what investment mogul and Shark Tank personality Kevin O’Leary told Stansberry Research in an interview earlier this month.
In fact, Mr. Wonderful plans to double his crypto holdings to 7% of his portfolio by the end of this year, largely because he sees “trillions of dollars” of interest coming into the space.
That said, O’Leary’s largest investment fund, O’Shares U.S. Quality Dividend ETF (OUSA), doesn’t invest in crypto at all — instead, it seeks businesses with strong profitability, balance sheets, and dividend growth.
While Bitcoin is certainly becoming mainstream, it’s still important to maintain ample diversification with income-producing stocks.
Let’s take a look at the top three holdings of O’Leary’s flagship fund. One (or all) of these dividend picks might be worth purchasing withyour spare change.
Home Depot(NYSE:HD) isn’t nearly as exciting as crypto, but it’s the top holding at OUSA, accounting for 5.3% of the fund’s weight.
The home improvement retail giant has around 2,300 stores, with each one averaging approximately 105,000 square feet of indoor retail space — a size that dwarfs most of its competitors.
One thing that makes Home Depot stand out is how well it performed during the pandemic.
Many brick-and-mortar retailers have struggled since the beginning of COVID-19. Yet Home Depot grew its sales nearly 20% in fiscal 2020 to $132.1 billion.
It even boosted its quarterly dividend by 10% earlier this year and now yields 1.9%.
Shares aren’t cheap, though.
After rallying more than 30% year to date, Home Depot trades at over $350 per share. But you can get a piece of the company using a popular stock trading app that allows you to buyfractions of shareswith as much money as you are willing to spend.
Tech stocks aren’t known for their dividends, but software gorilla **Microsoft ** (Nasdaq:MSFT) is an exception.
The company announced an 11% increase to its quarterly dividend to 62 cents per share last month. Over the past five years, its payout has grown by 59%.
So it shouldn’t come as a surprise that Microsoft is the second largest holding in O’Leary’s OUSA.
Business has been booming of late, largely helped by the pandemic-fueled demand for its cloud-computing and video gaming products.
Year to date, Microsoft shares have returned a whopping 40%, easily topping other trillion-dollar tech giants like Apple (11.8%) and Amazon (7%).
Of course, if you’re on the fence about jumping into tech stocks near all-time highs,some investing appswill give you a free share of Apple just for signing up.
Healthcare is known as a recession-proof industry.
With deeply entrenched positions in consumer health, pharmaceuticals, and medical devices,Johnson & Johnson(NYSE:JNJ) has been able to deliver remarkably consistent returns to investors through thick and thin.
Not only does Johnson & Johnson post recurring profits year in and year out, but it grows them consistently, as well: Over the last 20 years, Johnson & Johnson’s adjusted earnings have increased at an average annual rate of 8%.
Things are even better on the dividend front — the healthcare giant has raised its payout to shareholders for 59 consecutive years.
Not many companies have that kind of track record.
Year to date, shares are up just 3%. But for long-term investors, Johnson & Johnson is a name that should not be ignored.
The company is the third-largest holding in OUSA with a weighting of 4.9%.
Gold, crypto, and common stocks aren’t the only things you’ll find in Mr. Wonderful’s portfolio.
He also utilizes a "private" way to diversify and to profit.
If you want to invest in something that has very little correlation with the violent swings of the stock and crypto market, consider this overlooked asset —fine art.
Investing in fine art by the likes of Banksy and Andy Warhol used to be an option only for the ultra-rich like O’Leary.
But with anew investing platform, you can invest in iconic artworks too, just like Jeff Bezos and Peggy Guggenheim.
According to the Citi Global Art Market chart, contemporary artwork has offered a return of 14% per year over the past 25 years, easily topping the 9.5% annual return from the S&P 500.
This article provides information only and should not be construed as advice. It is provided without warranty of any kind. || Why are US beef prices soaring?: A cow at Rancho Feeding Corporation in Petaluma Food in the US is getting more expensive, and that’s largely being driven by rising beef prices. In the past year, the consumer price index for food rose 0.9%, while the index for beef rose 17.6%, according to the Bureau of Labor Statistics. So what’s happening? At the height of the pandemic , covid-19 outbreaks forced meatpacking facilities to shut down, reducing beef production. But they never recovered entirely, said Michael Swanson, the chief agriculture economist at Wells Fargo. Part of that, he said, has to do with labor shortages that have slowed down production, from the food workers processing the beef to the truck drivers transporting it. The ongoing supply chain challenges such as rising freight rates are also affecting meat production along with the broader global economy. Rising corn and soy prices, which make the feed for livestock more expensive, also factor into the soaring beef prices. Xi Jinping’s vision for China does not involve workers “lying flat” “Anytime you see price increases like that, it's never one thing, it's always a stack of things,” said Peter Bolstorff, an executive at the Association for Supply Chain Management. “[When] these prices go up that fast...usually it's because you've got demand shocks and supply shocks stacking on themselves at the same time.” But beef prices were already on the rise before the pandemic. Ongoing droughts throughout western US have led farmers to pull back on livestock. Poor crops in the past couple of years also pushed feed costs for livestock up sharply last year, according to Swanson. Bitcoin closed in on a record high after a US bitcoin ETF started trading There is also renewed concern that a few giant meatpacking companies are taking advantage of rising meat prices. Meatpacking companies' profits soared during the pandemic—for instance, Tyson Foods reported a net income of $753 million in the third quarter of 2021, up from $526 million the same period last year. Story continues The US Agriculture and Justice departments said they are investigating whether the big four meatpacking companies—Tyson Foods, JBS, National Beef, and Cargill, which control 85% of the beef market, collectively—are fixing or manipulating prices . In June, the Justice department reportedly demanded information from the companies over antitrust concerns and is talking with state attorney generals about the investigation, Bloomberg reported. Over the years, the companies have reportedly paid out millions of dollars in fines and settlements for manipulating prices, and have denied any wrongdoing. With prices rising, farmers say that they are missing out on profits ; the Biden administration said last month it wants to push for price transparency for the big meatpackers. The Meat Institute, a trade organization, said the Biden administration is wrong about the concentration in the meat and poultry industry causing prices to rise and instead places the increasing prices on labor shortages that are slowing production and making goods scarce. How long will meat prices remain high? The demand for meat remains strong in part due to excess household savings, according to analysts. But that is forcing retailers to raise prices to ration the limited supply, said Swanson. The climbing prices are also leading restaurants to change up their ingredients to soften the blow of rising costs. Meat prices are likely to remain high until corn and soybean prices drop, which won’t be until 2023, he said. Other drivers of high prices may persist longer. Cattle herds will take time to recover, and higher wages may be permanent, said Sal Guatieri, senior economist at BMO Capital Markets, a Toronto-based investment firm. For instance, wages at supermarkets surpassed $15 an hour in August . “So some of those wage pressures will persist for a while, perhaps even after the pandemic has passed," he said. Sign up for the Quartz Daily Brief , our free daily newsletter with the world’s most important and interesting news. More stories from Quartz: The Indian government is testing blockchain technology to streamline its logistics industry China is the engine for global economic growth. What happens if it slows down? || Why are US beef prices soaring?: A cow at Rancho Feeding Corporation in Petaluma Food in the US is getting more expensive, and that’s largely being driven by rising beef prices. In the past year, the consumer price index for food rose 0.9%, while the index for beef rose 17.6%, according to the Bureau of Labor Statistics. So what’s happening? At the height of the pandemic , covid-19 outbreaks forced meatpacking facilities to shut down, reducing beef production. But they never recovered entirely, said Michael Swanson, the chief agriculture economist at Wells Fargo. Part of that, he said, has to do with labor shortages that have slowed down production, from the food workers processing the beef to the truck drivers transporting it. The ongoing supply chain challenges such as rising freight rates are also affecting meat production along with the broader global economy. Rising corn and soy prices, which make the feed for livestock more expensive, also factor into the soaring beef prices. Xi Jinping’s vision for China does not involve workers “lying flat” “Anytime you see price increases like that, it's never one thing, it's always a stack of things,” said Peter Bolstorff, an executive at the Association for Supply Chain Management. “[When] these prices go up that fast...usually it's because you've got demand shocks and supply shocks stacking on themselves at the same time.” But beef prices were already on the rise before the pandemic. Ongoing droughts throughout western US have led farmers to pull back on livestock. Poor crops in the past couple of years also pushed feed costs for livestock up sharply last year, according to Swanson. Bitcoin closed in on a record high after a US bitcoin ETF started trading There is also renewed concern that a few giant meatpacking companies are taking advantage of rising meat prices. Meatpacking companies' profits soared during the pandemic—for instance, Tyson Foods reported a net income of $753 million in the third quarter of 2021, up from $526 million the same period last year. Story continues The US Agriculture and Justice departments said they are investigating whether the big four meatpacking companies—Tyson Foods, JBS, National Beef, and Cargill, which control 85% of the beef market, collectively—are fixing or manipulating prices . In June, the Justice department reportedly demanded information from the companies over antitrust concerns and is talking with state attorney generals about the investigation, Bloomberg reported. Over the years, the companies have reportedly paid out millions of dollars in fines and settlements for manipulating prices, and have denied any wrongdoing. With prices rising, farmers say that they are missing out on profits ; the Biden administration said last month it wants to push for price transparency for the big meatpackers. The Meat Institute, a trade organization, said the Biden administration is wrong about the concentration in the meat and poultry industry causing prices to rise and instead places the increasing prices on labor shortages that are slowing production and making goods scarce. How long will meat prices remain high? The demand for meat remains strong in part due to excess household savings, according to analysts. But that is forcing retailers to raise prices to ration the limited supply, said Swanson. The climbing prices are also leading restaurants to change up their ingredients to soften the blow of rising costs. Meat prices are likely to remain high until corn and soybean prices drop, which won’t be until 2023, he said. Other drivers of high prices may persist longer. Cattle herds will take time to recover, and higher wages may be permanent, said Sal Guatieri, senior economist at BMO Capital Markets, a Toronto-based investment firm. For instance, wages at supermarkets surpassed $15 an hour in August . “So some of those wage pressures will persist for a while, perhaps even after the pandemic has passed," he said. Sign up for the Quartz Daily Brief , our free daily newsletter with the world’s most important and interesting news. More stories from Quartz: The Indian government is testing blockchain technology to streamline its logistics industry China is the engine for global economic growth. What happens if it slows down? || CBDCs should have ‘privacy by design’, says blockchain boss: As Central Bank Digital Currencies (CBDC) continue to materialise, so do worries surrounding the financial privacy of users, says Matthew Niemerg, co-founder of Aleph Zero – a Swiss non-profit, enterprise-ready, peer-reviewed, developer-friendly blockchain platform. According to Aleph Zero, CBDCs will undoubtedly be subject to know-your-customer (KYC) and anti money laundering (AML) regulations, which require identity disclosure among their participants. In fact, the Bank of Canada has already qualified anonymity as a ‘risk’ banks should look to avoid – leaving prospective users with little faith that their privacy will be assured. Needless to say, such regulations could hinder CBDC adoption by imposing a burden on financial privacy. Fortunately, developers are looking for ways to make blockchain networks that are regulatory compliant, but still, protect the privacy and rights of their users. To avoid disclosing personally identifiable information while still adhering to KYC and AML regulations, Aleph Zero ’s open-source privacy layer, Liminal, is leveraging Zero-Knowledge proofs or ZK-SNARKS. ZK-SNARKs work by allowing one party – the prover – to produce concise proof that can be used to convince another party – the verifier – that the ‘prover’ is who they say they are. Importantly, thanks to ZK-SNARKS, nothing about the prover’s personal data is revealed to the verifier (hence the name of ‘zero-knowledge’). In this way, compliance checks can be made without the user having to input or disclose the information to third parties. ID compliance is more about proof of compliance rather than knowledge of personally identifiable information. The only issue is up until now there’s been no way to decouple the two. Aleph Zero and Liminal aim to change that. Governments tend to have the biggest control possible says Niemerg Coin Rivet spoke with Niemerg, regarding how central banks should adopt a ‘privacy-by-design’ approach. Story continues He stressed that current financial institutions use Aleph Zero’s transactions and financial data for marketing and retargeting purposes, however, their financial private transactions would solve this user anonymity issue. When talking about financial privacy, one of the reasons why cryptocurrencies became so popular sits in its decentralisation and user anonymity. However, when talking about CBDCs it is normal that central banks and governments will be overlooking them . Niemerg said that even though cryptocurrencies like Bitcoin or Ethereum are pseudonymous, in that there is no public data on-chain that can identify persons with an account, they still reveal the transaction history between all accounts and are not fully anonymous. He added that central banks and governments are not just overlooking financial privacy but want to completely erode it. “Consider the recent proposal of the US Treasury Department in the US’ latest infrastructure bill,” he said. “Portions of the bill contain requirements to report all incoming and outgoing transactions of a bank account that exceeds $600 in aggregate over the course of a year to the IRS. “While there is no direct data available on the limited number of people and companies not spending or receiving more than $600 from a bank account in ag (guarantee account), it is hard to conceive that this would be lower than 90% of the banked (and is most likely much higher given the economic realities of utility bills, mortgage or rent, payment for food, etc.). “This can be viewed as an attempt to cast a dragnet and capture information on all financial transactions which, in turn, leads to more control that the government has within any given society.” He asserted that such policies are not unique to the US and there is a broader move by central banks worldwide to monitor every single financial transaction. “From a technology perspective, financial privacy equivalent to cash is achievable with CBDCs and with the proper design and planning can be made to work with existing regulations on cash transactions,” he said, adding that centralised institutions also use Aleph Zero’s transactions for marketing and retargeting purposes. Privacy is not a way to keep transactions concealed Niemerg commented that all cryptographic primitives with privacy features allow users of these protocols to perform what is known as a cryptographic reveal. “Account holders can even restrict with whom they perform these so-called reveals that would disclose details of a financial transaction and limit revealing sensitive details to only the proper authorities,” he said. “Privacy is not a way to keep your transactions concealed regardless of the circumstances; it’s simply a more secure way to transact for an individual. “The common misconception of ‘I have nothing to hide’ led us to a notable amount of data reselling scandals which the foundations of Web 3.0 are trying to avoid. One of the most efficient ways of doing so is through education, especially in the user privacy area.” He explained that anyone can verify ZK proof and, when talking about the ID compliance, he added decentralised identifiers (DIDs) could be combined in a way with cryptographic techniques to hide financial information on public ledgers yet, at the same time, disclose details to the proper authorities. “And a prover’s persona is as anonymous as possible assuming proper operational security protocols are followed in not revealing private information that could reveal who the prover is,” he added. Niemerg also went on to say that economic interactions are a fundamental part of the human experience. “In free societies, citizens have long enjoyed a great degree of financial freedom,” he concluded. “As technology improves and allows for private companies and governments the ability to collect data on the population, including data on financial transactions, as a society, we are seeing data privacy protection laws (such as GDPR), and broadly, we see people demand their continued right to privacy. “The lip service to privacy rights means nothing when financial privacy is not a part of the conversation.” || CBDCs should have ‘privacy by design’, says blockchain boss: As Central Bank Digital Currencies (CBDC) continue to materialise, so do worries surrounding the financial privacy of users, says Matthew Niemerg, co-founder of Aleph Zero – a Swiss non-profit, enterprise-ready, peer-reviewed, developer-friendly blockchain platform. According to Aleph Zero, CBDCs will undoubtedly be subject to know-your-customer (KYC) and anti money laundering (AML) regulations, which require identity disclosure among their participants. In fact, the Bank of Canada has already qualified anonymity as a ‘risk’ banks should look to avoid – leaving prospective users with little faith that their privacy will be assured. Needless to say, such regulations could hinder CBDC adoption by imposing a burden on financial privacy. Fortunately, developers are looking for ways to make blockchain networks that are regulatory compliant, but still, protect the privacy and rights of their users. To avoid disclosing personally identifiable information while still adhering to KYC and AML regulations, Aleph Zero ’s open-source privacy layer, Liminal, is leveraging Zero-Knowledge proofs or ZK-SNARKS. ZK-SNARKs work by allowing one party – the prover – to produce concise proof that can be used to convince another party – the verifier – that the ‘prover’ is who they say they are. Importantly, thanks to ZK-SNARKS, nothing about the prover’s personal data is revealed to the verifier (hence the name of ‘zero-knowledge’). In this way, compliance checks can be made without the user having to input or disclose the information to third parties. ID compliance is more about proof of compliance rather than knowledge of personally identifiable information. The only issue is up until now there’s been no way to decouple the two. Aleph Zero and Liminal aim to change that. Governments tend to have the biggest control possible says Niemerg Coin Rivet spoke with Niemerg, regarding how central banks should adopt a ‘privacy-by-design’ approach. Story continues He stressed that current financial institutions use Aleph Zero’s transactions and financial data for marketing and retargeting purposes, however, their financial private transactions would solve this user anonymity issue. When talking about financial privacy, one of the reasons why cryptocurrencies became so popular sits in its decentralisation and user anonymity. However, when talking about CBDCs it is normal that central banks and governments will be overlooking them . Niemerg said that even though cryptocurrencies like Bitcoin or Ethereum are pseudonymous, in that there is no public data on-chain that can identify persons with an account, they still reveal the transaction history between all accounts and are not fully anonymous. He added that central banks and governments are not just overlooking financial privacy but want to completely erode it. “Consider the recent proposal of the US Treasury Department in the US’ latest infrastructure bill,” he said. “Portions of the bill contain requirements to report all incoming and outgoing transactions of a bank account that exceeds $600 in aggregate over the course of a year to the IRS. “While there is no direct data available on the limited number of people and companies not spending or receiving more than $600 from a bank account in ag (guarantee account), it is hard to conceive that this would be lower than 90% of the banked (and is most likely much higher given the economic realities of utility bills, mortgage or rent, payment for food, etc.). “This can be viewed as an attempt to cast a dragnet and capture information on all financial transactions which, in turn, leads to more control that the government has within any given society.” He asserted that such policies are not unique to the US and there is a broader move by central banks worldwide to monitor every single financial transaction. “From a technology perspective, financial privacy equivalent to cash is achievable with CBDCs and with the proper design and planning can be made to work with existing regulations on cash transactions,” he said, adding that centralised institutions also use Aleph Zero’s transactions for marketing and retargeting purposes. Privacy is not a way to keep transactions concealed Niemerg commented that all cryptographic primitives with privacy features allow users of these protocols to perform what is known as a cryptographic reveal. “Account holders can even restrict with whom they perform these so-called reveals that would disclose details of a financial transaction and limit revealing sensitive details to only the proper authorities,” he said. “Privacy is not a way to keep your transactions concealed regardless of the circumstances; it’s simply a more secure way to transact for an individual. “The common misconception of ‘I have nothing to hide’ led us to a notable amount of data reselling scandals which the foundations of Web 3.0 are trying to avoid. One of the most efficient ways of doing so is through education, especially in the user privacy area.” He explained that anyone can verify ZK proof and, when talking about the ID compliance, he added decentralised identifiers (DIDs) could be combined in a way with cryptographic techniques to hide financial information on public ledgers yet, at the same time, disclose details to the proper authorities. “And a prover’s persona is as anonymous as possible assuming proper operational security protocols are followed in not revealing private information that could reveal who the prover is,” he added. Niemerg also went on to say that economic interactions are a fundamental part of the human experience. “In free societies, citizens have long enjoyed a great degree of financial freedom,” he concluded. “As technology improves and allows for private companies and governments the ability to collect data on the population, including data on financial transactions, as a society, we are seeing data privacy protection laws (such as GDPR), and broadly, we see people demand their continued right to privacy. “The lip service to privacy rights means nothing when financial privacy is not a part of the conversation.” || Coinbase: Making the Right Moves to Drive Long-Term Growth: Bitcoin’s price currently sits only a few percent below its all-time high amid hopes a BTC futures ETF is about to get the SEC’s approval. It offers more validation for the crypto space, as the once digital wild west continues its forward march to mainstream adoption.
The numbers perfectly illustrate the progress being made. Cryptocurrencies’ total market cap has grown to $2.5 trillion this year, an astounding leap from the $1.5 billion it commanded only 8 years ago.
This is despite what Oppenheimer’sOwen Laucalls the US’ lack of a “unified approach to regulate digital assets,” with the country behind other regions and countries, such the EU, UK, Singapore and Japan in providing regulatory clarity for the crypto space.
With this in mind, last week Coinbase (COIN) published a Digital Asset Policy Proposal, laying out its thoughts for a new regulatory framework for the industry. The ideas consist of four key areas: 1) a distinct framework for digital assets; 2) the appointment of one regulator and a self-regulatory organization; 3) investors’ safety; and 4) interoperability and fair competition.
Congress and regulators are unlikely to be too keen on the first two, says Lau, who thinks they will be “more receptive” to 3 and 4. “While COIN doesn't want to be the gatekeeper,” noted the 5-star analyst, “It has to be given its industry expertise and resources. We believe this proposal can facilitate more sensible regulatory conversation to foster innovation and job creation.”
The US might be falling behind its peers where the approach to crypto is concerned, but so has Coinbase in a segment which has generated an enormous amount of buzz – and revenue - this year. The leading exchange has yet to get in on the lucrative non-fungible token (NFT) craze but has now announced its intention to do so; the company said an NFT marketplace is coming soon. Coinbase already boasts a waiting list over 1.35 million, far higher than the 300,000 users counted by the world’s current largest NFT marketplace - OpenSea.
“Overall,” Lau summed up, “We believe COIN's proposed regulatory framework is a net positive to the development of sensible regulatory framework, and COIN NFT marketplace will be a meaningful revenue driver longer term.”
So, down to the nitty gritty, what does it all mean for investors? Lau rates COIN an Outperform (i.e. Buy) along with a $444 price target. This figure implies ~51% upside from current levels. (To watch Lau’s track record,click here)
The rest of the Street has a more modest target; at $340.73, the figure could deliver returns of 16% over the one-year timeframe. Currently, the analyst consensus rates this stock a Moderate Buy, based on 12 Buys vs. 3 Holds and 2 Sells. (See Coinbase stock analysis on TipRanks)
To find good ideas for crypto stocks trading at attractive valuations, visit TipRanks’Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.
Disclaimer: The opinions expressed in this article are solely those of the featured analyst. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment. || Coinbase: Making the Right Moves to Drive Long-Term Growth: Bitcoin’s price currently sits only a few percent below its all-time high amid hopes a BTC futures ETF is about to get the SEC’s approval. It offers more validation for the crypto space, as the once digital wild west continues its forward march to mainstream adoption. The numbers perfectly illustrate the progress being made. Cryptocurrencies’ total market cap has grown to $2.5 trillion this year, an astounding leap from the $1.5 billion it commanded only 8 years ago. This is despite what Oppenheimer’s Owen Lau calls the US’ lack of a “unified approach to regulate digital assets,” with the country behind other regions and countries, such the EU, UK, Singapore and Japan in providing regulatory clarity for the crypto space. With this in mind, last week Coinbase ( COIN ) published a Digital Asset Policy Proposal, laying out its thoughts for a new regulatory framework for the industry. The ideas consist of four key areas: 1) a distinct framework for digital assets; 2) the appointment of one regulator and a self-regulatory organization; 3) investors’ safety; and 4) interoperability and fair competition. Congress and regulators are unlikely to be too keen on the first two, says Lau, who thinks they will be “more receptive” to 3 and 4. “While COIN doesn't want to be the gatekeeper,” noted the 5-star analyst, “It has to be given its industry expertise and resources. We believe this proposal can facilitate more sensible regulatory conversation to foster innovation and job creation.” The US might be falling behind its peers where the approach to crypto is concerned, but so has Coinbase in a segment which has generated an enormous amount of buzz – and revenue - this year. The leading exchange has yet to get in on the lucrative non-fungible token (NFT) craze but has now announced its intention to do so; the company said an NFT marketplace is coming soon. Coinbase already boasts a waiting list over 1.35 million, far higher than the 300,000 users counted by the world’s current largest NFT marketplace - OpenSea. Story continues “Overall,” Lau summed up, “We believe COIN's proposed regulatory framework is a net positive to the development of sensible regulatory framework, and COIN NFT marketplace will be a meaningful revenue driver longer term.” So, down to the nitty gritty, what does it all mean for investors? Lau rates COIN an Outperform (i.e. Buy) along with a $444 price target. This figure implies ~51% upside from current levels. (To watch Lau’s track record, click here ) The rest of the Street has a more modest target; at $340.73, the figure could deliver returns of 16% over the one-year timeframe. Currently, the analyst consensus rates this stock a Moderate Buy, based on 12 Buys vs. 3 Holds and 2 Sells. ( See Coinbase stock analysis on TipRanks ) To find good ideas for crypto stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy , a newly launched tool that unites all of TipRanks’ equity insights. Disclaimer: The opinions expressed in this article are solely those of the featured analyst. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.
[Social Media Buzz]
None available.
|
65992.84, 62210.17, 60692.27, 61393.62, 60930.84, 63039.82, 60363.79, 58482.39, 60622.14, 62227.96
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Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 15290.90, 15701.34, 16276.34, 16317.81, 16068.14, 15955.59, 16716.11, 17645.41, 17804.01, 17817.09, 18621.31, 18642.23, 18370.00, 18364.12, 19107.46, 18732.12, 17150.62, 17108.40, 17717.41, 18177.48, 19625.84, 18803.00, 19201.09, 19445.40, 18699.77, 19154.23, 19345.12, 19191.63, 18321.14, 18553.92, 18264.99, 18058.90, 18803.66, 19142.38, 19246.64, 19417.08, 21310.60, 22805.16, 23137.96, 23869.83, 23477.29, 22803.08, 23783.03, 23241.35, 23735.95, 24664.79, 26437.04, 26272.29, 27084.81, 27362.44, 28840.95, 29001.72, 29374.15, 32127.27, 32782.02, 31971.91, 33992.43, 36824.36, 39371.04, 40797.61, 40254.55, 38356.44, 35566.66, 33922.96, 37316.36, 39187.33, 36825.37, 36178.14, 35791.28, 36630.07, 36069.80, 35547.75, 30825.70, 33005.76, 32067.64, 32289.38, 32366.39, 32569.85, 30432.55, 33466.10, 34316.39, 34269.52, 33114.36, 33537.18, 35510.29, 37472.09, 36926.07, 38144.31, 39266.01, 38903.44.
|
[Bitcoin Technical Analysis for 2021-02-07]
Volume: 65500641143, RSI (14-day): 63.34, 50-day EMA: 32168.69, 200-day EMA: 21252.02
[Wider Market Context]
None available.
[Recent News (last 7 days)]
Y Coin: First in History To Have a Crypto Democracy Voting: Youssof Altoukhi Y Coin Y Coin London, United Kingdom, Feb. 06, 2021 (GLOBE NEWSWIRE) -- Y Coin was created by Youssof Altoukhi, 15-Year-old entrepreneur Y Coin is a brand new cryptocurrency that aims at changing the way that cryptos work. The main goal of the company is to transform the infrastructure of the cryptocurrency into a system that would use more democratic votes . In this system of a single vote, the value of a person does not depend on how many cryptos they own or their wallet amount. Each and every person gets a single vote regardless of their crypto savings. Y Coin was created by Youssof Altoukhi, a really young 15-Year-old entrepreneur who also knows his way in the area of stock investment. Youssof’s ideas and crypto knowledge often shock enthusiasts who are baffled by the young mind’s skills. The young mastermind’s plans are fixed for an extremely long term. The DAPPS has already been planned for Y Coin. The realm of cryptocurrency is complicated even for grown adults and for most, it takes a team and a lot of years to master it. With such experienced and aged people as his peers, Youssof is setting a record and an example to the entire world. Not only appreciating his wide knowledge in the area but also his desire to bring forth a change in the system so that the community as a whole is treated equally. The plan is to have a true democracy with “decentralised coin controlled by the people, not the organisation” . Y Coin that is going to go by the abbreviation of YCO, will have an emission rate of 200,000 a month and maximum supply of 150,000,000. The brand new architecture of Y Coin is a huge innovation in its area. With the use of Y Coin’s GHOST protocol (Greedy Heaviest Observed Subtree), the new blocks are massively encrypted by not affecting the speed hence the new token is by no doubt, safe and secure. Y Coin beats Bitcoin with a speed of 25 TPS attributing to the ERC20 framework. It is the first coin in history to have a crypto democracy with a voting mechanism. Story continues The concept of Y Coin currently under development where everyone gets to vote has never been ventured before and thus has huge innovative growth potential. One can buy Y Coin early before it publicly launches at only $0.0015 a coin which will be available on the 15 of February from vindax.com and app.uniswap.org Eventually, it will launch on other exchanges too. Instagram: https://www.instagram.com/Ycoin_/ Reddit: https://www.reddit.com/r/YCoin/ Media Details Company name: Y Coin Email address: info@ycoin.co.uk Website: ycoin.co.uk Attachment Youssof Altoukhi || Y Coin: First in History To Have a Crypto Democracy Voting: London, United Kingdom, Feb. 06, 2021 (GLOBE NEWSWIRE) --Y Coin was created by Youssof Altoukhi, 15-Year-old entrepreneur
Y Coinis a brand new cryptocurrency that aims at changing the way that cryptos work. The main goal of the company is to transform the infrastructure of the cryptocurrency into a system that would use moredemocratic votes. In this system of a single vote, the value of a person does not depend on how many cryptos they own or their wallet amount. Each and every person gets a single vote regardless of their crypto savings.
Y Coin was created by Youssof Altoukhi, a really young 15-Year-old entrepreneur who also knows his way in the area of stock investment.
Youssof’s ideas and crypto knowledge often shock enthusiasts who are baffled by the young mind’s skills. The young mastermind’s plans are fixed for an extremely long term. The DAPPS has already been planned for Y Coin. The realm of cryptocurrency is complicated even for grown adults and for most, it takes a team and a lot of years to master it. With such experienced and aged people as his peers, Youssof is setting a record and an example to the entire world. Not only appreciating his wide knowledge in the area but also his desire to bring forth a change in the system so that the community as a whole is treated equally. The plan is to have a true democracy with“decentralised coin controlled by the people, not the organisation”.
Y Coin that is going to go by the abbreviation of YCO, will have an emission rate of 200,000 a month and maximum supply of 150,000,000.
The brand new architecture of Y Coin is a huge innovation in its area. With the use of Y Coin’s GHOST protocol (Greedy Heaviest Observed Subtree), the new blocks are massively encrypted by not affecting the speed hence the new token is by no doubt, safe and secure. Y Coin beats Bitcoin with a speed of 25 TPS attributing to the ERC20 framework. It is the first coin in history to have a crypto democracy with a voting mechanism.
The concept of Y Coin currently under development where everyone gets to vote has never been ventured before and thus has huge innovative growth potential. One can buy Y Coin early before it publicly launches at only $0.0015 a coin which will be available on the 15 of February fromvindax.comandapp.uniswap.orgEventually, it will launch on other exchanges too.
Instagram:https://www.instagram.com/Ycoin_/Reddit:https://www.reddit.com/r/YCoin/
Media DetailsCompany name:Y CoinEmail address:info@ycoin.co.ukWebsite:ycoin.co.uk
Attachment
• Youssof Altoukhi || Combined value of digital coins tops $1.2trn as Bitcoin hits $40,000 again: New virtual money concept, Gold Bitcoins ( btc ) is Digital crypto-currency use blockchain Technology for The combined market value of over 6,000 digital coins has topped $1.2 trn (£870bn), data from CoinGecko has shown. It comes as the value of Bitcoin ( BTC-USD ) crept back over the $40,000 mark this week after a crypto rally stirred by Tesla ( TSLA ) chief executive Elon Musk. Bitcoin had recently fallen below $30,000 after suffering its worst week on record last month, but it was up more than 6% on Saturday and around 20% higher on the week. It is trading at $40,412 at the time of writing, pushing closer to its all-time high of $42,000. Bitcoin is trading at $40,412 at the time of writing, pushing closer to its all-time high of $42,000. Chart: Yahoo Finance Last week Musk changed his Twitter bio to Bitcoin. This week he then went on to post a series of comments on Twitter about the cryptocurrency Dogecoin ( DOGE-USD ). The digital currency, which uses a Shiba Inu dog as its mascot, first started up as a joke in 2013 but has seen its market capitalisation pass $6bn. Musk first tweeted just the word “Doge”, followed by “Dogecoin is the people’s crypto”, and “No highs, no lows, only Doge”. He also posted a Lion King meme of him holding up the dogecoin dog as if it were Simba. He said at the time: "They are really just meant to be jokes, but you know Dogecoin was made as a joke to make fun of cryptocurrencies obviously, but fate loves irony and often as a friend of mine says that the most ironic outcome or I'd say the most entertaining outcome and the most ironic outcome would be that Dogecoin becomes the currency of earth in the future.” ur welcome pic.twitter.com/e2KF57KLxb — Elon Musk (@elonmusk) February 4, 2021 The tweets sent the price of dogecoin spiking against the dollar on Thursday. It was up 45% against the dollar to $0.0484. Dogecoin has risen around 800% this year so far. “Anything Musk tweets about shoots higher because he has such a strong following both on social media and as a businessman,” said Neil Wilson, chief market analyst at Markets.com. Story continues “People will literally invest in him and his ideas, and don’t care what the fundamentals are.” Ethereum ( ETH-USD ), the second-largest digital coin, also had a stellar rally this week, surging past $1,700 for the first time ever. Investors are awaiting the launch of ether futures contracts from the Chicago Mercantile Exchange next week. Trading in ether futures is set to start Monday. READ MORE: Cryptocurrency dogecoin soars after Elon Musk tweets Bitcoin started 2020 at around $7,000 per coin, however, despite its rise in the last year, the cryptocurrency remains extremely volatile and experts continue to remain sceptical about using it as an investment. Last month, the City watchdog warned consumers that they should be prepared to lose all their money if they invest in products promising higher returns from virtual currencies such as Bitcoin. The comment kick-started Bitcoin’s recent decline . “The FCA is aware that some firms are offering investments in cryptoassets, or lending or investments linked to cryptoassets, that promise high returns,” the regulator said at the time. “Investing in cryptoassets, or investments and lending linked to them, generally involves taking very high risks with investors’ money. If consumers invest in these types of products, they should be prepared to lose all their money.” WATCH: What are the risks of investing in cryptocurrency? || Combined value of digital coins tops $1.2trn as Bitcoin hits $40,000 again: New virtual money concept, Gold Bitcoins ( btc ) is Digital crypto-currency use blockchain Technology for The combined market value of over 6,000 digital coins has topped $1.2 trn (£870bn), data from CoinGecko has shown. It comes as the value of Bitcoin ( BTC-USD ) crept back over the $40,000 mark this week after a crypto rally stirred by Tesla ( TSLA ) chief executive Elon Musk. Bitcoin had recently fallen below $30,000 after suffering its worst week on record last month, but it was up more than 6% on Saturday and around 20% higher on the week. It is trading at $40,412 at the time of writing, pushing closer to its all-time high of $42,000. Bitcoin is trading at $40,412 at the time of writing, pushing closer to its all-time high of $42,000. Chart: Yahoo Finance Last week Musk changed his Twitter bio to Bitcoin. This week he then went on to post a series of comments on Twitter about the cryptocurrency Dogecoin ( DOGE-USD ). The digital currency, which uses a Shiba Inu dog as its mascot, first started up as a joke in 2013 but has seen its market capitalisation pass $6bn. Musk first tweeted just the word “Doge”, followed by “Dogecoin is the people’s crypto”, and “No highs, no lows, only Doge”. He also posted a Lion King meme of him holding up the dogecoin dog as if it were Simba. He said at the time: "They are really just meant to be jokes, but you know Dogecoin was made as a joke to make fun of cryptocurrencies obviously, but fate loves irony and often as a friend of mine says that the most ironic outcome or I'd say the most entertaining outcome and the most ironic outcome would be that Dogecoin becomes the currency of earth in the future.” ur welcome pic.twitter.com/e2KF57KLxb — Elon Musk (@elonmusk) February 4, 2021 The tweets sent the price of dogecoin spiking against the dollar on Thursday. It was up 45% against the dollar to $0.0484. Dogecoin has risen around 800% this year so far. “Anything Musk tweets about shoots higher because he has such a strong following both on social media and as a businessman,” said Neil Wilson, chief market analyst at Markets.com. Story continues “People will literally invest in him and his ideas, and don’t care what the fundamentals are.” Ethereum ( ETH-USD ), the second-largest digital coin, also had a stellar rally this week, surging past $1,700 for the first time ever. Investors are awaiting the launch of ether futures contracts from the Chicago Mercantile Exchange next week. Trading in ether futures is set to start Monday. READ MORE: Cryptocurrency dogecoin soars after Elon Musk tweets Bitcoin started 2020 at around $7,000 per coin, however, despite its rise in the last year, the cryptocurrency remains extremely volatile and experts continue to remain sceptical about using it as an investment. Last month, the City watchdog warned consumers that they should be prepared to lose all their money if they invest in products promising higher returns from virtual currencies such as Bitcoin. The comment kick-started Bitcoin’s recent decline . “The FCA is aware that some firms are offering investments in cryptoassets, or lending or investments linked to cryptoassets, that promise high returns,” the regulator said at the time. “Investing in cryptoassets, or investments and lending linked to them, generally involves taking very high risks with investors’ money. If consumers invest in these types of products, they should be prepared to lose all their money.” WATCH: What are the risks of investing in cryptocurrency? || Combined value of digital coins tops $1.2trn as Bitcoin hits $40,000 again: New virtual money concept, Gold Bitcoins ( btc ) is Digital crypto-currency use blockchain Technology for The combined market value of over 6,000 digital coins has topped $1.2 trn (£870bn), data from CoinGecko has shown. It comes as the value of Bitcoin ( BTC-USD ) crept back over the $40,000 mark this week after a crypto rally stirred by Tesla ( TSLA ) chief executive Elon Musk. Bitcoin had recently fallen below $30,000 after suffering its worst week on record last month, but it was up more than 6% on Saturday and around 20% higher on the week. It is trading at $40,412 at the time of writing, pushing closer to its all-time high of $42,000. Bitcoin is trading at $40,412 at the time of writing, pushing closer to its all-time high of $42,000. Chart: Yahoo Finance Last week Musk changed his Twitter bio to Bitcoin. This week he then went on to post a series of comments on Twitter about the cryptocurrency Dogecoin ( DOGE-USD ). The digital currency, which uses a Shiba Inu dog as its mascot, first started up as a joke in 2013 but has seen its market capitalisation pass $6bn. Musk first tweeted just the word “Doge”, followed by “Dogecoin is the people’s crypto”, and “No highs, no lows, only Doge”. He also posted a Lion King meme of him holding up the dogecoin dog as if it were Simba. He said at the time: "They are really just meant to be jokes, but you know Dogecoin was made as a joke to make fun of cryptocurrencies obviously, but fate loves irony and often as a friend of mine says that the most ironic outcome or I'd say the most entertaining outcome and the most ironic outcome would be that Dogecoin becomes the currency of earth in the future.” ur welcome pic.twitter.com/e2KF57KLxb — Elon Musk (@elonmusk) February 4, 2021 The tweets sent the price of dogecoin spiking against the dollar on Thursday. It was up 45% against the dollar to $0.0484. Dogecoin has risen around 800% this year so far. “Anything Musk tweets about shoots higher because he has such a strong following both on social media and as a businessman,” said Neil Wilson, chief market analyst at Markets.com. Story continues “People will literally invest in him and his ideas, and don’t care what the fundamentals are.” Ethereum ( ETH-USD ), the second-largest digital coin, also had a stellar rally this week, surging past $1,700 for the first time ever. Investors are awaiting the launch of ether futures contracts from the Chicago Mercantile Exchange next week. Trading in ether futures is set to start Monday. READ MORE: Cryptocurrency dogecoin soars after Elon Musk tweets Bitcoin started 2020 at around $7,000 per coin, however, despite its rise in the last year, the cryptocurrency remains extremely volatile and experts continue to remain sceptical about using it as an investment. Last month, the City watchdog warned consumers that they should be prepared to lose all their money if they invest in products promising higher returns from virtual currencies such as Bitcoin. The comment kick-started Bitcoin’s recent decline . “The FCA is aware that some firms are offering investments in cryptoassets, or lending or investments linked to cryptoassets, that promise high returns,” the regulator said at the time. “Investing in cryptoassets, or investments and lending linked to them, generally involves taking very high risks with investors’ money. If consumers invest in these types of products, they should be prepared to lose all their money.” WATCH: What are the risks of investing in cryptocurrency? || Serbian Man Extradited to US After Being Indicted in $70M Crypto Fraud: Serbia has extradited a man to the U.S. after he was indicted by a Dallas-based federal grand jury on allegations that he duped investors around the globe – several of whom are in northern Texas – out of more than $70 million. The scheme involved soliciting investments in binary options and cryptocurrency mining, the U.S. Department of Justice alleged. The binary options were advertised as “an average payout of 80 percent, and promised 20 percent refunds on every lost trade.” The fraudulent advertisements also claimed that investors could “purchase bitcoin at half market price” on its crypto mining platform, the department alleged in a statement . Related: Bitcoin News Roundup for Feb. 8, 2021 Serbian authorities arrested Antonije Stojilkovic, 32, in July of last year, and the FBI delivered him to the Northern District of Texas this past Thursday. He is alleged to have had five Serbian co-conspirators and one U.S.-based co-conspirator. The DOJ claims the defendants created false trading activity, withdrawal history and wire receipts. If convicted, Stojilkovic and his co-defendants face up to 20 years in federal prison. Related Stories Serbian Man Extradited to US After Being Indicted in $70M Crypto Fraud Serbian Man Extradited to US After Being Indicted in $70M Crypto Fraud Serbian Man Extradited to US After Being Indicted in $70M Crypto Fraud || Serbian Man Extradited to US After Being Indicted in $70M Crypto Fraud: Serbia has extradited a man to the U.S. after he was indicted by a Dallas-based federal grand jury on allegations that he duped investors around the globe – several of whom are in northern Texas – out of more than $70 million.
The scheme involved soliciting investments in binary options and cryptocurrency mining, the U.S. Department of Justice alleged.
The binary options were advertised as “an average payout of 80 percent, and promised 20 percent refunds on every lost trade.” The fraudulent advertisements also claimed that investors could “purchase bitcoin at half market price” on its crypto mining platform, the department alleged in astatement.
Related:Bitcoin News Roundup for Feb. 8, 2021
Serbian authorities arrested Antonije Stojilkovic, 32, in July of last year, and the FBI delivered him to the Northern District of Texas this past Thursday. He is alleged to have had five Serbian co-conspirators and one U.S.-based co-conspirator.
The DOJ claims the defendants created false trading activity, withdrawal history and wire receipts.
If convicted, Stojilkovic and his co-defendants face up to 20 years in federal prison.
• Serbian Man Extradited to US After Being Indicted in $70M Crypto Fraud
• Serbian Man Extradited to US After Being Indicted in $70M Crypto Fraud
• Serbian Man Extradited to US After Being Indicted in $70M Crypto Fraud || Bitcoin Reclaims $40K Mark, Moving Closer To All-Time High: Bitcoin topped $40,000 today, regaining some of the losses that the worlds most popular cryptocurrency suffered in recent weeks, Coindesk has reported . What Happened: Bitcoin hit the $40,538.66 mark, narrowing the distance from its all-time high, the $41.962.36 price set on January 8. On January 22, the stock went as low as $28,845.31, amounting to a loss of 31.25% of its value. Over the last week, the BTC has made significant gains and the year-to-date gain is at 36.91%. It is up 39.72% from January 22s value. Why It Matters : According to Coindesk, over the last one week Bitcoin has gotten a boost from institutional money, including from Ray Dalios Bridgewater Associates and Miller Opportunity Trust. It reported that MicroStrategy's WORLD.NOW BTC-themed conference is also leveraging BTCs move. See more from Benzinga Click here for options trades from Benzinga Melvin Lost 53% in January, Hurt by GameStop, Other Bets Dogecoin, Caught Up In Reddit Frenzy, Remains Low After Rally © 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Bitcoin Reclaims $40K Mark, Moving Closer To All-Time High: Bitcoin topped $40,000 today, regaining some of the losses that the world’s most popular cryptocurrency suffered in recent weeks, Coindeskhas reported.
What Happened:Bitcoin hit the $40,538.66 mark, narrowing the distance from its all-time high, the $41.962.36 price set on January 8.
On January 22, the stock went as low as $28,845.31, amounting to a loss of 31.25% of its value. Over the last week, the BTC has made significant gains and the year-to-date gain is at 36.91%. It is up 39.72% from January 22’s value.
Why It Matters: According to Coindesk, over the last one week Bitcoin has gotten a boost from institutional money, including from Ray Dalio’s Bridgewater Associates and Miller Opportunity Trust.
It reported that MicroStrategy's WORLD.NOW BTC-themedconferenceis also leveraging BTC’s move.
See more from Benzinga
• Click here for options trades from Benzinga
• Melvin Lost 53% in January, Hurt by GameStop, Other Bets
• Dogecoin, Caught Up In Reddit Frenzy, Remains Low After Rally
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Bitcoin Reclaims $40K Mark, Moving Closer To All-Time High: Bitcoin topped $40,000 today, regaining some of the losses that the world’s most popular cryptocurrency suffered in recent weeks, Coindeskhas reported.
What Happened:Bitcoin hit the $40,538.66 mark, narrowing the distance from its all-time high, the $41.962.36 price set on January 8.
On January 22, the stock went as low as $28,845.31, amounting to a loss of 31.25% of its value. Over the last week, the BTC has made significant gains and the year-to-date gain is at 36.91%. It is up 39.72% from January 22’s value.
Why It Matters: According to Coindesk, over the last one week Bitcoin has gotten a boost from institutional money, including from Ray Dalio’s Bridgewater Associates and Miller Opportunity Trust.
It reported that MicroStrategy's WORLD.NOW BTC-themedconferenceis also leveraging BTC’s move.
See more from Benzinga
• Click here for options trades from Benzinga
• Melvin Lost 53% in January, Hurt by GameStop, Other Bets
• Dogecoin, Caught Up In Reddit Frenzy, Remains Low After Rally
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Will the Clubhouse model work in China?: On Friday just past midnight, I stumbled across a Clubhouse room hosted by a well-known figure in the Chinese startup community, Feng Dahui. At half-past midnight, the room still had nearly 500 listeners, many of whom were engineers, product managers, and entrepreneurs from China. The discussion centered around whether Clubhouse , an app that lets people join pop-up voice chats in virtual rooms, will succeed in China. That's a question I have been asking myself in recent weeks. Given the current hype swirling in Silicon Valley about the audio social network, it's unsurprising to see well-informed, tech-savvy Chinese users start flocking to the platform. Demand for invitations in China runs high, with people paying as much as $100 to buy one from scalpers. Many users I talked to believe the app won't reach its full potential or even just find product-market fit in China before it gets banned. Indeed, a handful of well-attended Chinese-language rooms touch on topics that are normally censored in China, from crypto trading to protests in Hong Kong. If it's of any consolation, Clubhouse clones and derivatives are already in the making in China. A Chinese entrepreneur and blogger who goes by the nickname Herock told me he is aware of at least "dozens of local teams" that are working on something similar. Moreover, voice-based networking has been around in China for years, albeit in different forms. If Clubhouse is blocked, will any of its alternatives go on to succeed? Information control A direct Clubhouse clone probably won't work in China. A few factors dim its prospects in the country, which has nearly one billion internet users. The major appeal of Clubhouse is the organic flow of conversations in real time. But "how could the Chinese government allow free-flowing discussions to happen and spread without control," a founder of a Chinese audio app rhetorically asked, declining to be named for this story. Video live streaming in China, for example, is under close regulatory oversight limiting who can speak and what they can say. The founder then cited a famous online protest back in 2011. Thousands of small vendors launched a cyber attack on Alibaba's online mall over a proposed fee hike. The tool they used to coordinate with one another was YY, which started out as a voice-based chatting software for gamers and later became known for video live streaming. "The authorities dread the power of real-time audio communication," the founder added. There are signs that Clubhouse may already be the target of censorship. While Clubhouse works perfectly in China without the need for a virtual private network (VPN) or other censorship-circumvention tools (at least for the moment), the iOS-exclusive app is unavailable on China's App Store. Clubhouse was removed there shortly after its global release in late September, app analytics firm Sensor Tower said. Story continues Currently, in order to install Clubhouse, Chinese users need to install the app by switching to an App Store located in another country, which further limits the product's reach to users who have the means of using a non-local store. It's unclear whether Apple preemptively delisted Clubhouse in anticipation of government action, given that any later removal of a major foreign app in China could stir up accusations of censorship. Alternatively, Clubhouse might have voluntarily pulled the app itself knowing that any form of live broadcasting won't go unchecked by Chinese regulators, which would inevitably compromise user experience. Entering China could be way down on Clubhouse's to-do list given the traction it is gaining elsewhere. The app has seen about 3.6 million worldwide installs so far, according to Sensor Tower estimates. The majority of its lifetime installs originate in the United States, where the app has seen nearly 2 million first-time downloads, followed by Japan and Germany both with over 400,000 downloads. Clubhouse elites Clubhouse room hosted by Feng Dahui, a respected figure in China's startup world. (Screenshot by TechCrunch) The improbability of uncensored and open discussions on the Chinese internet may explain why the market hasn't seen its own Clubhouse. But even if an app like Clubhouse is allowed to exist in China, it may not reach the same massive scale across the country as Douyin (TikTok's Chinese version) and WeChat did. The app is "elitist," sort of like a voice version of Twitter, said Marco Lai, CEO and founder of Lizhi, a NASDAQ-listed Chinese audio platform. So far, Clubhouse's invite-only model has confined its American user base largely to the tech, arts and celebrity circles. Herock observed that its Chinese demographics mirror the trend, with users concentrated in fields like finance, startup and product management, as well as crypto traders. "It might look like Clubhouse blew up within a small circle], but I don't think the absolute user number [in China] is that big," said Herock. Even among these users though, there is the question of free time. The other night, I was up at midnight eavesdropping on a group of ByteDance employees. In fact, I've mostly been on Clubhouse in the late evenings after work, because that's when user activity in China appears to peak. "Who in China has that much time?" said Zhou Lingyu, founder of Rainmaker, a Chinese networking community for professionals, when I asked whether she thinks Clubhouse will attract the masses in China. While her remark may not apply to everyone, the tech-centric, educated crowds in China — the demographic that Clubhouse appears to be targeting or at least attracting — are also those most likely to work the notorious "996" schedule , the long hours practice common in Chinese tech companies. The type of " meaningful conversations " that Clubhouse encourages is desirable, but the app's spontaneous, live, participatory nature is also a lot to ask of 996 workers, who likely prefer more efficient and manageable use of time. China’s startup ecosystem is hitting back at demanding working hours Moderators may also need material incentives to remain active aside from the pure passion in connecting with other human beings. One potential solution is to turn quality conversations into podcast episodes. "Clubhouse is for one-off, casual conversations. Those who produce high-quality content would want to record the conversation so it could be for repeatable consumption later on,” said Zhou. Chinese counterparts In China, audio networking has played out in slightly different shapes. Some companies place a great deal of focus on gamification, filling their apps with playful, interactive features. Lizhi's social podcast app, for example, is not just about listening . It also lets listeners message hosts, tip them through virtual gifts, record themselves shadowing a host who is reading a poem, compete in online karaoke contests, and more. Podcast is social: How China’s Lizhi makes audio interactive Interaction between hosts and listeners happens in a relatively orchestrated way, as Lizhi's operational staff design campaigns and work with content creators behind the scenes to ensure content quality and user engagement. Clubhouse growth, in comparison, is more organic. "The Chinese products focus more on spectatorship and performance, not so much translating natural social behavior in real life into a product. Clubhouse features are simple. It's more like a coffee shop," Lai said. Lizhi's other voice product Tiya is considered a close answer to Clubhouse, but Tiya's users are young — the majority of whom are 15-22 years old — and it focuses on entertainment, letting users chat via audio while they play games and watch sports. That also feeds the need for companionship. Dizhua , which launched in 2019, is another Chinese app that's been compared to Clubhouse. Unlike Clubhouse, which relies on people's existing networks for room discovery, Dizhua matches anonymous users based on their declared interests. Clubhouse conversations can start and die off casually. Dizhua encourages users to pick a theme and stay engaged. "Clubhouse is a pure audio app, with no timeline, no comment, et cetera," said Armin Li, an expert in residence with a venture capital firm in China. "It’s a kind of casual and drop-in style for the scenarios where user needs are not clear like hangout or multitasking … Its high community participation, content quality, and user quality are unseen in Chinese voice products." The bottom line is: The conversations that happen on Chinese platforms are monitored by content auditors. User registration requires real-name verification on internet platforms in China, so there's no real anonymity online. The topics that users can discuss are limited, often leaning towards the fun and innocuous. Why do people in China join Clubhouse anyway? Some, like me, joined out of FOMO. Entrepreneurs are always scouring for the next market opportunity, and product managers from internet giants hope to learn a thing or two from Clubhouse that they could apply to their own products. Bitcoin traders and activists, on the other hand, see Clubhouse as a haven outside the purview of Chinese regulators. Technical support One thing I find impressive about Clubhouse is how smoothly it works in China. Even when a foreign app isn't banned in China, it often loads slowly due to its servers' distance from China. Clubhouse doesn't actually build the technology supporting its enormous chat groups that sometimes reach thousands of participants. Instead, it uses a real-time audio SDK from Agora, two sources told me. The South China Morning Post also reported that. When asked to verify the partnership, Agora CEO Tony Zhao said via email he can't confirm or deny any engagement between his company and Clubhouse. Rather, he emphasized Agora's "virtual network," which overlays on top of the public internet running on more than 200 co-located data centers worldwide. The company then uses algorithms to plan traffic and optimize routing. Noticeably, Agora's operations teams are mainly in China and the U.S., a setup that inevitably raises questions about whether Clubhouse data are within the scope of Chinese regulations, a possibility that the company flagged in its IPO prospectus . With real-time voice technology providers like Agora, opportunists are able to build Clubhouse clones quickly at low costs, Herock said. Chinese entrepreneurs are unlikely to copy Clubhouse directly due to local regulatory challenges and different user behavior, but they will race to crank out their own interpretations of voice networking before the hype around Clubhouse fades away. View comments || Will the Clubhouse model work in China?: On Friday just past midnight, I stumbled across a Clubhouse room hosted by a well-known figure in the Chinese startup community, Feng Dahui. At half-past midnight, the room still had nearly 500 listeners, many of whom were engineers, product managers, and entrepreneurs from China.
The discussion centered around whetherClubhouse, an app that lets people join pop-up voice chats in virtual rooms, will succeed in China. That's a question I have been asking myself in recent weeks. Given the current hype swirling in Silicon Valley about the audio social network, it's unsurprising to see well-informed, tech-savvy Chinese users start flocking to the platform. Demand for invitations in China runs high, with people paying as much as $100 to buy one from scalpers.
Many users I talked to believe the app won't reach its full potential or even just find product-market fit in China before it gets banned. Indeed, a handful of well-attended Chinese-language rooms touch on topics that are normally censored in China, from crypto trading to protests in Hong Kong.
If it's of any consolation, Clubhouse clones and derivatives are already in the making in China. A Chinese entrepreneur and blogger who goes by the nickname Herock told me he is aware of at least "dozens of local teams" that are working on something similar. Moreover, voice-based networking has been around in China for years, albeit in different forms. If Clubhouse is blocked, will any of its alternatives go on to succeed?
A direct Clubhouse clone probably won't work in China.
A few factors dim its prospects in the country, which has nearly one billion internet users. The major appeal of Clubhouse is the organic flow of conversations in real time. But "how could the Chinese government allow free-flowing discussions to happen and spread without control," a founder of a Chinese audio app rhetorically asked, declining to be named for this story. Video live streaming in China, for example, is under close regulatory oversight limiting who can speak and what they can say.
The founder then cited afamous online protestback in 2011. Thousands of small vendors launched a cyber attack on Alibaba's online mall over a proposed fee hike. The tool they used to coordinate with one another was YY, which started out as a voice-based chatting software for gamers and later became known for video live streaming.
"The authorities dread the power of real-time audio communication," the founder added.
There are signs that Clubhouse may already be the target of censorship. While Clubhouse works perfectly in China without the need for a virtual private network (VPN) or other censorship-circumvention tools (at least for the moment), the iOS-exclusive app is unavailable on China's App Store. Clubhouse was removed there shortly after its global release in late September, app analytics firm Sensor Tower said.
Currently, in order to install Clubhouse, Chinese users need to install the app by switching to an App Store located in another country, which further limits the product's reach to users who have the means of using a non-local store.
It's unclear whether Apple preemptively delisted Clubhouse in anticipation of government action, given that any later removal of a major foreign app in China could stir up accusations of censorship. Alternatively, Clubhouse might have voluntarily pulled the app itself knowing that any form of live broadcasting won't go unchecked by Chinese regulators, which would inevitably compromise user experience.
Entering China could be way down on Clubhouse's to-do list given the traction it is gaining elsewhere. The app has seen about 3.6 million worldwide installs so far, according to Sensor Tower estimates. The majority of its lifetime installs originate in the United States, where the app has seen nearly 2 million first-time downloads, followed by Japan and Germany both with over 400,000 downloads.
Clubhouse room hosted by Feng Dahui, a respected figure in China's startup world. (Screenshot by TechCrunch)
The improbability of uncensored and open discussions on the Chinese internet may explain why the market hasn't seen its own Clubhouse. But even if an app like Clubhouse is allowed to exist in China, it may not reach the same massive scale across the country as Douyin (TikTok's Chinese version) and WeChat did.
The app is "elitist," sort of like a voice version of Twitter, said Marco Lai, CEO and founder of Lizhi, a NASDAQ-listed Chinese audio platform. So far, Clubhouse's invite-only model has confined its American user base largely to the tech, arts and celebrity circles. Herock observed that its Chinese demographics mirror the trend, with users concentrated in fields like finance, startup and product management, as well as crypto traders.
"It might look like Clubhouse blew up within a small circle], but I don't think the absolute user number [in China] is that big," said Herock.
Even among these users though, there is the question of free time. The other night, I was up at midnight eavesdropping on a group of ByteDance employees. In fact, I've mostly been on Clubhouse in the late evenings after work, because that's when user activity in China appears to peak. "Who in China has that much time?" said Zhou Lingyu, founder of Rainmaker, a Chinese networking community for professionals, when I asked whether she thinks Clubhouse will attract the masses in China.
While her remark may not apply to everyone, the tech-centric, educated crowds in China — the demographic that Clubhouse appears to be targeting or at least attracting — are also those most likely towork the notorious "996" schedule, the long hours practice common in Chinese tech companies. The type of "meaningful conversations" that Clubhouse encourages is desirable, but the app's spontaneous, live, participatory nature is also a lot to ask of 996 workers, who likely prefer more efficient and manageable use of time.
China’s startup ecosystem is hitting back at demanding working hours
Moderators may also need material incentives to remain active aside from the pure passion in connecting with other human beings. One potential solution is to turn quality conversations into podcast episodes. "Clubhouse is for one-off, casual conversations. Those who produce high-quality content would want to record the conversation so it could be for repeatable consumption later on,” said Zhou.
In China, audio networking has played out in slightly different shapes. Some companies place a great deal of focus on gamification, filling their apps with playful, interactive features.
Lizhi's social podcast app, for example, isnot just about listening. It also lets listeners message hosts, tip them through virtual gifts, record themselves shadowing a host who is reading a poem, compete in online karaoke contests, and more.
Podcast is social: How China’s Lizhi makes audio interactive
Interaction between hosts and listeners happens in a relatively orchestrated way, as Lizhi's operational staff design campaigns and work with content creators behind the scenes to ensure content quality and user engagement. Clubhouse growth, in comparison, is more organic.
"The Chinese products focus more on spectatorship and performance, not so much translating natural social behavior in real life into a product. Clubhouse features are simple. It's more like a coffee shop," Lai said.
Lizhi's other voice productTiyais considered a close answer to Clubhouse, but Tiya's users are young — the majority of whom are 15-22 years old — and it focuses on entertainment, letting users chat via audio while they play games and watch sports. That also feeds the need for companionship.
Dizhua, which launched in 2019, is another Chinese app that's been compared to Clubhouse. Unlike Clubhouse, which relies on people's existing networks for room discovery, Dizhua matches anonymous users based on their declared interests. Clubhouse conversations can start and die off casually. Dizhua encourages users to pick a theme and stay engaged.
"Clubhouse is a pure audio app, with no timeline, no comment, et cetera," said Armin Li, an expert in residence with a venture capital firm in China. "It’s a kind of casual and drop-in style for the scenarios where user needs are not clear like hangout or multitasking … Its high community participation, content quality, and user quality are unseen in Chinese voice products."
The bottom line is: The conversations that happen on Chinese platforms are monitored by content auditors. User registration requires real-name verification on internet platforms in China, so there's no real anonymity online. The topics that users can discuss are limited, often leaning towards the fun and innocuous.
Why do people in China join Clubhouse anyway? Some, like me, joined out of FOMO. Entrepreneurs are always scouring for the next market opportunity, and product managers from internet giants hope to learn a thing or two from Clubhouse that they could apply to their own products. Bitcoin traders and activists, on the other hand, see Clubhouse as a haven outside the purview of Chinese regulators.
One thing I find impressive about Clubhouse is how smoothly it works in China. Even when a foreign app isn't banned in China, it often loads slowly due to its servers' distance from China.
Clubhouse doesn't actually build the technology supporting its enormous chat groups that sometimes reach thousands of participants. Instead, it uses a real-time audio SDK from Agora, two sources told me. The South China Morning Post alsoreportedthat. When asked to verify the partnership, Agora CEO Tony Zhao said via email he can't confirm or deny any engagement between his company and Clubhouse.
Rather, he emphasized Agora's "virtual network," which overlays on top of the public internet running on more than 200 co-located data centers worldwide. The company then uses algorithms to plan traffic and optimize routing.
Noticeably, Agora's operations teams are mainly in China and the U.S., a setup that inevitably raises questions about whether Clubhouse data are within the scope of Chinese regulations, a possibility that the company flagged in its IPOprospectus.
With real-time voice technology providers like Agora, opportunists are able to build Clubhouse clones quickly at low costs, Herock said. Chinese entrepreneurs are unlikely to copy Clubhouse directly due to local regulatory challenges and different user behavior, but they will race to crank out their own interpretations of voice networking before the hype around Clubhouse fades away. || Bill Millers Flagship Fund May Now Buy GBTC to Gain Bitcoin Exposure of Up to 15%: Miller Value Fundsrun by veteran hedge fund manager and bitcoin bull Bill Millermay invest in the Grayscale Bitcoin Trust through its flagship fund, the Miller Opportunity Trust. The Fund may seek investment exposure to bitcoin indirectly by investing in the Grayscale Bitcoin Trust, an entity that holds bitcoin, the fund wrote in a filing with the U.S. Securities and Exchange Commission. The Grayscale Bitcoin Trust invests principally in bitcoin. The Fund will not make any additional investments in the Grayscale Bitcoin Trust if, as a result of the investment, its aggregate investment in bitcoin exposure would be more than 15% of its assets at the time of investment. Miller Opportunity Trust had assets under management of $2.25 billion as of Dec. 31, 2020, making the funds potential maximum investment in GBTC $337 million. The fund is co-managed by MIller and Samantha McLemore. Related: Top Crypto Exchanges Experience Difficulties as Tesla News Prompts Trading Frenzy In late January, Millers son, Bill Miller IV, said in a letter to investors in another Miller fund that taking part in MicroStrategys $650 million convertible senior note offering was like getting an almost-free call option on bitcoin. Grayscale is owned by Digital Currency Group, the parent company of CoinDesk. Read more: Why Did Bill Miller and His Son Buy MicroStrategy Debt? Its the Bitcoin Related Stories Bill Millers Flagship Fund May Now Buy GBTC to Gain Bitcoin Exposure of Up to 15% Bill Millers Flagship Fund May Now Buy GBTC to Gain Bitcoin Exposure of Up to 15% Bill Millers Flagship Fund May Now Buy GBTC to Gain Bitcoin Exposure of Up to 15% View comments || Bill Miller’s Flagship Fund May Now Buy GBTC to Gain Bitcoin Exposure of Up to 15%: Miller Value Funds–run by veteran hedge fund manager andbitcoin bullBill Miller–may invest in the Grayscale Bitcoin Trust through its flagship fund, the Miller Opportunity Trust.
“The Fund may seek investment exposure to bitcoin indirectly by investing in the Grayscale Bitcoin Trust, an entity that holds bitcoin,” the fund wrote in a filing with the U.S. Securities and Exchange Commission. “The Grayscale Bitcoin Trust invests principally in bitcoin. The Fund will not make any additional investments in the Grayscale Bitcoin Trust if, as a result of the investment, its aggregate investment in bitcoin exposure would be more than 15% of its assets at the time of investment.”
Miller Opportunity Trust had assets under management of $2.25 billion as of Dec. 31, 2020, making the fund’s potential maximum investment in GBTC $337 million. The fund is co-managed by MIller and Samantha McLemore.
Related:Top Crypto Exchanges Experience Difficulties as Tesla News Prompts Trading Frenzy
In late January, Miller’s son, Bill Miller IV,said in a letter to investorsin another Miller fund that taking part in MicroStrategy’s $650 million convertible senior note offering was like getting an almost-free call option on bitcoin.
Grayscale is owned by Digital Currency Group, the parent company of CoinDesk.Read more:Why Did Bill Miller and His Son Buy MicroStrategy Debt? It’s the Bitcoin
• Bill Miller’s Flagship Fund May Now Buy GBTC to Gain Bitcoin Exposure of Up to 15%
• Bill Miller’s Flagship Fund May Now Buy GBTC to Gain Bitcoin Exposure of Up to 15%
• Bill Miller’s Flagship Fund May Now Buy GBTC to Gain Bitcoin Exposure of Up to 15% || Bill Miller’s Flagship Fund May Now Buy GBTC to Gain Bitcoin Exposure of Up to 15%: Miller Value Funds–run by veteran hedge fund manager andbitcoin bullBill Miller–may invest in the Grayscale Bitcoin Trust through its flagship fund, the Miller Opportunity Trust.
“The Fund may seek investment exposure to bitcoin indirectly by investing in the Grayscale Bitcoin Trust, an entity that holds bitcoin,” the fund wrote in a filing with the U.S. Securities and Exchange Commission. “The Grayscale Bitcoin Trust invests principally in bitcoin. The Fund will not make any additional investments in the Grayscale Bitcoin Trust if, as a result of the investment, its aggregate investment in bitcoin exposure would be more than 15% of its assets at the time of investment.”
Miller Opportunity Trust had assets under management of $2.25 billion as of Dec. 31, 2020, making the fund’s potential maximum investment in GBTC $337 million. The fund is co-managed by MIller and Samantha McLemore.
Related:Top Crypto Exchanges Experience Difficulties as Tesla News Prompts Trading Frenzy
In late January, Miller’s son, Bill Miller IV,said in a letter to investorsin another Miller fund that taking part in MicroStrategy’s $650 million convertible senior note offering was like getting an almost-free call option on bitcoin.
Grayscale is owned by Digital Currency Group, the parent company of CoinDesk.Read more:Why Did Bill Miller and His Son Buy MicroStrategy Debt? It’s the Bitcoin
• Bill Miller’s Flagship Fund May Now Buy GBTC to Gain Bitcoin Exposure of Up to 15%
• Bill Miller’s Flagship Fund May Now Buy GBTC to Gain Bitcoin Exposure of Up to 15%
• Bill Miller’s Flagship Fund May Now Buy GBTC to Gain Bitcoin Exposure of Up to 15% || Cathie Wood: A typical day for Ark Invest's star stock picker: By any measure, Ark Invest is having a spectacular run. With tens of billions of dollars flowing into her thematic ETFs and returns that easily surpassed 100% last year, Cathie Wood has gone from being a relatively unknown investor to one of the worlds best known money managers. Ark even took the mantle for largest active ETF from JP Morgan last year . But dont call her company a behemoth. The word behemoth. We are like a startup still and we still have that feel, and I never want to lose it, she told Yahoo Finance Presents. Wood doesnt think Arks soaring assets under management have impacted her drive or Arks culture. But the pandemic certainly has changed her typical day and the way her firm does business. When the Coronavirus started, she recalled, I brought the team, everyone in the firm together, at the beginning of every day. And we're still doing that. Morning Meetings Wood says she gets to sleep in a little longer these days since her commute is a few feet. Shes up at about 7:00am and begins reading research. 8:45, we bring the entire firm together and I think this has helped our cohesion as a firm, which I didn't think was possible, because I thought we were really close before, she said. We have an open office. Everybody can hear everything going on. So I didn't think it was possible. But I think what happened is the parts of the firm that were not involved with the investment process, were fascinated by the kinds of discussions we had. And so the whole firm has coalesced. Eventually some of the team, moves on to other tasks. Most people who are not in research will drop off at about 9:15am, Wood says. We continue til about 10:30am. And then every day, we will have between stock meetings where we do a deep dive into our portfolio tracker, which has our scoring system. That was Monday. That is always Monday. See Also: Reddit traders are helping to inflate a bond bubble: Ark's Cathie Wood Getting Outside After over five hours of virtual meetings, Wood tries to get some air. Story continues I need to go out and walk, she says. I'll sometimes do them on video, if they want to watch me walking around. But for the afternoon. And those will be business. They will be company management, they will be analysts, they will be business opportunities. Even as the firm has grown, she is trying to keep her time laser focused on the investing side of Ark. I would say 80% is on investing, she says. And because I am our Chief Investment Officer, it is my core competency. And I've delegated the management of the firm to other very capable people. We're growing right now, including people to go out and represent me, she added. So I've gotten used to this. I think my productivity has skyrocketed here. And I think our investing has gotten better because we can pounce on every opportunity, in real time, as were Zooming with each other. See Also: Why Ark's Cathie Wood remains bullish on Bitcoin, Tesla Earnings Season While Ark has a team of analysts, Cathie Wood still loves to dig into earnings season. Sometimes we'll have 10, 20, sometimes 30 companies reporting. And what I will do is I'll say, Okay to the aftermarket team. Which are getting hurt the most, that's where I'll spend my time. And I will go on too and I'll toggle among the conference calls, and listen, particularly to the Q&A. Listen to what's bothering other analysts out there. Remember, I told you we like to see the other side of the story. Listen to what's bothering to them. And think, Have we integrated that risk? Or does that matter to us? And usually it doesn't. If you couldnt tell from her 2018 call on Tesla (TSLA) to go to $4,000 in five years, Wood likes being on the opposite side of many in the analyst community. They're worried about the 30 basis points and operating margin miss, she says. We don't care about that, because that's this quarter. We've got our eyes on the prize. It's a five year time horizon. And actually a margin miss is actually for us a good thing. Because what does it usually mean? It means a company has decided to invest aggressively now to capitalize on this opportunity. And we think that's the right thing to do. Those who are not investing aggressively enough who are buying back their shares, leveraging their balance sheets, paying dividends, leveraging their balance sheets they're going to be the losers. - Jen Rogers is an anchor for Yahoo Finance Live. Follow her on Twitter @JenSaidIt . More from Jen: Why Arks Cathie Wood remains bullish on Bitcoin, Tesla How back to school is going for Congresss only single mom Why Big Tech needs to slow down: Meena Harris Find live stock market quotes and the latest business and finance news Follow Yahoo Finance on Twitter , Facebook , Instagram , Flipboard , LinkedIn , and reddit . || A typical day for Ark Invest's star stock picker Cathie Wood: By any measure, Ark Invest is having a spectacular run. With tens of billions of dollars flowing into her thematic ETFs and returns that easily surpassed 100% last year, Cathie Wood has gone from being a relatively unknown investor to one of the world’s best known money managers.Ark even took the mantle for largest active ETF from JP Morgan last year. But don’t call her company a behemoth.
“The word ‘behemoth.’ We are like a startup still and we still have that feel, and I never want to lose it,” she told Yahoo Finance Presents.
Wood doesn’t think Ark’s soaring assets under management have impacted her drive or Ark’s culture. But the pandemic certainly has changed her typical day and the way her firm does business.
“When the Coronavirus started,” she recalled, “I brought the team, everyone in the firm together, at the beginning of every day. And we're still doing that.”
Wood says she gets to sleep in a little longer these days since her commute is “a few feet.” She’s up at about 7:00am and begins reading research.
“8:45, we bring the entire firm together and I think this has helped our cohesion as a firm, which I didn't think was possible, because I thought we were really close before,” she said. “We have an open office. Everybody can hear everything going on. So I didn't think it was possible. But I think what happened is the parts of the firm that were not involved with the investment process, were fascinated by the kinds of discussions we had. And so the whole firm has coalesced.”
Eventually some of the team, moves on to other tasks.
“Most people who are not in research will drop off at about 9:15am,” Wood says. “We continue til about 10:30am. And then every day, we will have between stock meetings where we do a deep dive into our portfolio tracker, which has our scoring system. That was Monday. That is always Monday.”
See Also:Reddit traders are helping to inflate a bond bubble: Ark's Cathie Wood
After over five hours of virtual meetings, Wood tries to get some air.
“I need to go out and walk,” she says. “I'll sometimes do them on video, if they want to watch me walking around. But for the afternoon. And those will be business. They will be company management, they will be analysts, they will be business opportunities.”
Even as the firm has grown, she is trying to keep her time laser focused on the investing side of Ark.
“I would say 80% is on investing,” she says. “And because I am our Chief Investment Officer, it is my core competency. And I've delegated the management of the firm to other very capable people.”
“We're growing right now, including people to go out and represent me,” she added. “So I've gotten used to this. I think my productivity has skyrocketed here. And I think our investing has gotten better because we can pounce on every opportunity, in real time, as we’re Zooming with each other.”
See Also:Why Ark's Cathie Wood remains bullish on Bitcoin, Tesla
While Ark has a team of analysts, Cathie Wood still loves to dig into earnings season.
“Sometimes we'll have 10, 20, sometimes 30 companies reporting. And what I will do is I'll say, ‘Okay’ to the aftermarket team. ‘Which are getting hurt the most, that's where I'll spend my time.’ And I will go on too and I'll toggle among the conference calls, and listen, particularly to the Q&A. Listen to what's bothering other analysts out there. Remember, I told you we like to see the other side of the story. Listen to what's bothering to them. And think, ‘Have we integrated that risk? Or does that matter to us?’ And usually it doesn't.”
If you couldn’t tell from her 2018 call on Tesla(TSLA)to go to $4,000 in five years, Wood likes being on the opposite side of many in the analyst community.
“They're worried about the 30 basis points and operating margin miss,” she says. “We don't care about that, because that's this quarter.
“We've got our eyes on the prize. It's a five year time horizon. And actually a margin miss is actually for us a good thing. Because what does it usually mean? It means a company has decided to invest aggressively now to capitalize on this opportunity. And we think that's the right thing to do. Those who are not investing aggressively enough — who are buying back their shares, leveraging their balance sheets, paying dividends, leveraging their balance sheets — they're going to be the losers.”
-
Jen Rogers is an anchor for Yahoo Finance Live. Follow her on Twitter@JenSaidIt.
More from Jen:
• Why Ark’s Cathie Wood remains bullish on Bitcoin, Tesla
• How back to school is going for Congress’s only single mom
• Why Big Tech needs to slow down: Meena Harris
Find live stock market quotes and the latest business and finance news
Follow Yahoo Finance onTwitter,Facebook,Instagram,Flipboard,LinkedIn, andreddit. || Bitcoin Back Above $40K as Institutions Lead the Way: The price of bitcoin (BTC) rose above $40,000 Saturday as the leading cryptocurrency has nearly regained all its losses suffered since reaching an all-time high in early January.
• BTC hit $40,538.66 before falling back to $40,272.56, up 4.91% in the last 24 hours, putting it back within striking distance of the all-time high of $41.962.36 set on Jan. 8.
• After hitting that high-water mark, BTC lost nearly a third (31.25%) of its value and all its spectacular year-to-date gains, bottoming out at $28,845.31 on Jan. 22.
• After moving sideways for a week or so, over the last seven days BTC has made a string of upward moves, culminating in today’s rise. Year-to-date BTC’s gain is 36.91% and it’s up 39.72% from Jan. 22.
• Helping to drive this latest run is fresh interest on the part of institutional money such as Ray Dalio’sBridgewater Associates, which manages $150 billion in investor money, and theMiller Opportunity Trust. It may also be getting a boost from MicroStrategy’s WORLD.NOW BTC-themedconferencethis past week.
• “Bridgewater’s piece out last week had a sensitivity analysis which showed their estimates of BTC price, should private holders of gold switch to BTC,” states a weekly investor note Friday from quantitative trading firm QCP Capital.
• “They forecasted that should 50% of capital in gold move into BTC, that would result in a price of $85,000 per 1 BTC.”
• Bitcoin Back Above $40K as Institutions Lead the Way
• Bitcoin Back Above $40K as Institutions Lead the Way
• Bitcoin Back Above $40K as Institutions Lead the Way
• Bitcoin Back Above $40K as Institutions Lead the Way || Bitcoin Back Above $40K as Institutions Lead the Way: The price of bitcoin (BTC) rose above $40,000 Saturday as the leading cryptocurrency has nearly regained all its losses suffered since reaching an all-time high in early January.
• BTC hit $40,538.66 before falling back to $40,272.56, up 4.91% in the last 24 hours, putting it back within striking distance of the all-time high of $41.962.36 set on Jan. 8.
• After hitting that high-water mark, BTC lost nearly a third (31.25%) of its value and all its spectacular year-to-date gains, bottoming out at $28,845.31 on Jan. 22.
• After moving sideways for a week or so, over the last seven days BTC has made a string of upward moves, culminating in today’s rise. Year-to-date BTC’s gain is 36.91% and it’s up 39.72% from Jan. 22.
• Helping to drive this latest run is fresh interest on the part of institutional money such as Ray Dalio’sBridgewater Associates, which manages $150 billion in investor money, and theMiller Opportunity Trust. It may also be getting a boost from MicroStrategy’s WORLD.NOW BTC-themedconferencethis past week.
• “Bridgewater’s piece out last week had a sensitivity analysis which showed their estimates of BTC price, should private holders of gold switch to BTC,” states a weekly investor note Friday from quantitative trading firm QCP Capital.
• “They forecasted that should 50% of capital in gold move into BTC, that would result in a price of $85,000 per 1 BTC.”
• Bitcoin Back Above $40K as Institutions Lead the Way
• Bitcoin Back Above $40K as Institutions Lead the Way
• Bitcoin Back Above $40K as Institutions Lead the Way
• Bitcoin Back Above $40K as Institutions Lead the Way || Bitcoin Back Above $40K as Institutions Lead the Way: The price of bitcoin (BTC) rose above $40,000 Saturday as the leading cryptocurrency has nearly regained all its losses suffered since reaching an all-time high in early January. BTC hit $40,538.66 before falling back to $40,272.56, up 4.91% in the last 24 hours, putting it back within striking distance of the all-time high of $41.962.36 set on Jan. 8. After hitting that high-water mark, BTC lost nearly a third (31.25%) of its value and all its spectacular year-to-date gains, bottoming out at $28,845.31 on Jan. 22. After moving sideways for a week or so, over the last seven days BTC has made a string of upward moves, culminating in todays rise. Year-to-date BTCs gain is 36.91% and its up 39.72% from Jan. 22. Helping to drive this latest run is fresh interest on the part of institutional money such as Ray Dalios Bridgewater Associates , which manages $150 billion in investor money, and the Miller Opportunity Trust . It may also be getting a boost from MicroStrategys WORLD.NOW BTC-themed conference this past week. Bridgewaters piece out last week had a sensitivity analysis which showed their estimates of BTC price, should private holders of gold switch to BTC, states a weekly investor note Friday from quantitative trading firm QCP Capital. They forecasted that should 50% of capital in gold move into BTC, that would result in a price of $85,000 per 1 BTC. Related Stories Bitcoin Back Above $40K as Institutions Lead the Way Bitcoin Back Above $40K as Institutions Lead the Way Bitcoin Back Above $40K as Institutions Lead the Way Bitcoin Back Above $40K as Institutions Lead the Way View comments
[Social Media Buzz]
None available.
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46196.46, 46481.11, 44918.18, 47909.33, 47504.85, 47105.52, 48717.29, 47945.06, 49199.87, 52149.01
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Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 1143.84, 1165.20, 1179.97, 1179.97, 1222.50, 1251.01, 1274.99, 1255.15, 1267.12, 1272.83, 1223.54, 1150.00, 1188.49, 1116.72, 1175.83, 1221.38, 1231.92, 1240.00, 1249.61, 1187.81, 1100.23, 973.82, 1036.74, 1054.23, 1120.54, 1049.14, 1038.59, 937.52, 972.78, 966.72, 1045.77, 1047.15, 1039.97, 1026.43, 1071.79, 1080.50, 1102.17, 1143.81, 1133.25, 1124.78, 1182.68, 1176.90, 1175.95, 1187.87, 1187.13, 1205.01, 1200.37, 1169.28, 1167.54, 1172.52, 1182.94, 1193.91, 1211.67, 1210.29, 1229.08, 1222.05, 1231.71, 1207.21, 1250.15, 1265.49, 1281.08, 1317.73, 1316.48, 1321.79, 1347.89, 1421.60, 1452.82, 1490.09, 1537.67, 1555.45, 1578.80, 1596.71, 1723.35, 1755.36, 1787.13, 1848.57, 1724.24, 1804.91, 1808.91, 1738.43, 1734.45, 1839.09, 1888.65, 1987.71, 2084.73, 2041.20, 2173.40, 2320.42, 2443.64, 2304.98.
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[Bitcoin Technical Analysis for 2017-05-25]
Volume: 2406700032, RSI (14-day): 74.17, 50-day EMA: 1635.72, 200-day EMA: 1171.52
[Wider Market Context]
Gold Price: 1255.80, Gold RSI: 55.06
Oil Price: 48.90, Oil RSI: 47.59
[Recent News (last 7 days)]
Bitcoin flies past $2,300 and $2,400 for the first time as scaling agreement is reached: It seems as if nothing can stopbitcoinfrom going higher. The cryptocurrency is up by 7%, or $157, on Wednesday at $2,416 a coin. It has gained in 26 of the past 29 sessions and has more than doubled in value over that time.
Wednesday's gain comes afterChina was downgraded at Moody'sand abitcoin scaling agreementwas reached by the Digital Currency Group, representing 56 companies in 21 countries, at the Consensus 2017 conference in New York. The agreement states:
"We agree to immediately support the following parallel upgrades to the bitcoin protocol, which will be deployed simultaneously and based on the originalSegwit2Mb proposal:
• "Activate Segregated Witness at an 80% threshold, signaling at bit 4
• "Activate a 2 MB hard fork within six months"
The announcement is the latest bit of good news for the cryptocurrency. At the beginning of April, Japan announced bitcoin had become alegal payment methodin the country. Additionally, Ulmart, Russia's largest online retailer, said it wouldbegin accepting bitcoineven though Russia had said it wouldn't explore the cryptocurrency until 2018.
The gains also seem to be boosted by speculation the US Securities and Exchange Commission could overturn itsruling on the Winklevoss twins' bitcoin exchange-traded fund. The SEC was accepting public comment on its decision until May 15, but it hasn't announced whether it will overturn its rejection of the ETF.
Bitcoin has gained 154% this year. Except for 2014, it has been the top-performing currency every year since 2010.
(Elena Holodny/Business Insider)
NOW WATCH:The Marine Corps is testing a machine gun-wielding robot controlled with just a tablet and a joystick
More From Business Insider
• Bitcoin plunges and then recovers
• Bitcoin blows past $2,000, $2,100, and $2,200 for the first time
• Bitcoin surges past $1,900 for the first time || Bitcoin flies past $2,300 and $2,400 for the first time as scaling agreement is reached: It seems as if nothing can stop bitcoin from going higher. The cryptocurrency is up by 7%, or $157, on Wednesday at $2,416 a coin. It has gained in 26 of the past 29 sessions and has more than doubled in value over that time. Wednesday's gain comes after China was downgraded at Moody's and a bitcoin scaling agreement was reached by the Digital Currency Group, representing 56 companies in 21 countries, at the Consensus 2017 conference in New York. The agreement states: "We agree to immediately support the following parallel upgrades to the bitcoin protocol, which will be deployed simultaneously and based on the original Segwit2Mb proposal : "Activate Segregated Witness at an 80% threshold, signaling at bit 4 "Activate a 2 MB hard fork within six months" The announcement is the latest bit of good news for the cryptocurrency. At the beginning of April, Japan announced bitcoin had become a legal payment method in the country. Additionally, Ulmart, Russia's largest online retailer, said it would begin accepting bitcoin even though Russia had said it wouldn't explore the cryptocurrency until 2018. The gains also seem to be boosted by speculation the US Securities and Exchange Commission could overturn its ruling on the Winklevoss twins' bitcoin exchange-traded fund . The SEC was accepting public comment on its decision until May 15, but it hasn't announced whether it will overturn its rejection of the ETF. Bitcoin has gained 154% this year. Except for 2014, it has been the top-performing currency every year since 2010. bitcoin price (Elena Holodny/Business Insider) NOW WATCH: The Marine Corps is testing a machine gun-wielding robot controlled with just a tablet and a joystick More From Business Insider Bitcoin plunges and then recovers Bitcoin blows past $2,000, $2,100, and $2,200 for the first time Bitcoin surges past $1,900 for the first time || Bitcoin flies past $2,300 and $2,400 for the first time as scaling agreement is reached: It seems as if nothing can stopbitcoinfrom going higher. The cryptocurrency is up by 7%, or $157, on Wednesday at $2,416 a coin. It has gained in 26 of the past 29 sessions and has more than doubled in value over that time.
Wednesday's gain comes afterChina was downgraded at Moody'sand abitcoin scaling agreementwas reached by the Digital Currency Group, representing 56 companies in 21 countries, at the Consensus 2017 conference in New York. The agreement states:
"We agree to immediately support the following parallel upgrades to the bitcoin protocol, which will be deployed simultaneously and based on the originalSegwit2Mb proposal:
• "Activate Segregated Witness at an 80% threshold, signaling at bit 4
• "Activate a 2 MB hard fork within six months"
The announcement is the latest bit of good news for the cryptocurrency. At the beginning of April, Japan announced bitcoin had become alegal payment methodin the country. Additionally, Ulmart, Russia's largest online retailer, said it wouldbegin accepting bitcoineven though Russia had said it wouldn't explore the cryptocurrency until 2018.
The gains also seem to be boosted by speculation the US Securities and Exchange Commission could overturn itsruling on the Winklevoss twins' bitcoin exchange-traded fund. The SEC was accepting public comment on its decision until May 15, but it hasn't announced whether it will overturn its rejection of the ETF.
Bitcoin has gained 154% this year. Except for 2014, it has been the top-performing currency every year since 2010.
(Elena Holodny/Business Insider)
NOW WATCH:The Marine Corps is testing a machine gun-wielding robot controlled with just a tablet and a joystick
More From Business Insider
• Bitcoin plunges and then recovers
• Bitcoin blows past $2,000, $2,100, and $2,200 for the first time
• Bitcoin surges past $1,900 for the first time || Top Tech ETFs Of The Year: Technology investors are partying like it's 1999. That was the infamous final year of the dot-com bubble, when the tech-heavy Nasdaq rose a whopping 86%, an impressive end to one of the greatest bull markets in history.
Today's rally may not be as heady as it was back then―nor share prices as inflated―but for the first time in nearly two decades, tech is back to hitting new highs on a consistent basis. As measured by theTechnology Select Sector SPDR Fund (XLK), tech is the top-performing sector of the year, with a return of 15.8%, more than double the gain of the broader S&P 500.
Tech heavyweights like Apple, Google, Microsoft and Facebook are hitting new records seemingly every day. Their combined weighting in the S&P 500 is now 11%, while tech as a whole accounts for 23% of the index.
It's not just the giants. Tech companies big and small are performing well this year, as evidenced by the 15.9% return for theGuggenheim S&P 500 Equal Weight Technology ETF (RYT), a fund that gives the same weighting to Apple as it does to every other tech stock in its portfolio.
Indeed, to see the best returns among tech-focused exchange-traded funds, investors must venture outside of broad tech ETFs into more niche areas, and in a few cases, outside the U.S. altogether. Here are the top tech ETFs of the year so far.
China Internet ETFs
At the top of the tech heap are internet ETFs focused on China. TheEmerging Markets Internet & Ecommerce ETF (EMQQ)holds internet-related companies across emerging and frontier markets, but China accounts for about two-thirds of the portfolio.
Top holdings such as Tencent, Alibaba and Naspers have been on fire this year, buoying EMQQ to a year-to-date gain of 43.4%.
TheKraneShares CSI China Internet ETF (KWEB)and the broaderGuggenheim China Technology ETF (CQQQ)are in the same boat, with returns of 41.4% and 29.9%, respectively, in the period.
Though not focused on China, another international tech fund to see sizzling returns this year is theSPDR S&P International Technology Sector ETF (IPK), with its 23.4% gain. IPK holds a market-cap-weighted basket of tech stocks in developed markets outside of the U.S. Because it targets developed markets, it excludes China, giving it much different exposure than the aforementioned ETFs.
Currently, its three largest holdings are Samsung, SAP and ASML Holding.
Disruptive Technology ETFs
Back in the U.S., the top tech-focused fund is theARK Web x.0 ETF (ARKW), with a nice 33.5% return for the year so far. ARKW is an actively managed ETF that invests in companies that are "expected to benefit from shifting the bases of technology infrastructure to the cloud." Stocks held include firms tied to cloud computing, cyber security, big data, e-commerce and social media platforms.
The ETF also holds a 6% position in the Bitcoin Investment Trust (GBTC), something that has served it well, as prices for the digital currency have exploded to the upside recently. Other top holdings include Athenahealth, Amazon and 2U Inc.
ARKW is one offive ETFs from ARK Invest, an issuer that focuses on "disruptive innovation." Another of the firm’s active funds to do well so far this year is theARK Industrial Innovation ETF (ARKQ), with its 29.3% return. ARKQ invests in companies that are poised to benefit from technological advances related to energy, automation, manufacturing and transportation. Top holdings include Stratasys, Tesla and Nvidia.
Social Media ETFs
Shares of Snapchat parent Snap Inc. may be struggling this year, but an ETF that holds social media companies more broadly is doing just fine. TheGlobal X Social Media ETF (SOCL)is up a solid 32.7% year-to-date.
As the name suggests, SOCL holds a basket of social media stocks from all around the world. From Tencent to Twitter to Facebook, SOCL is a social media pure-play ETF.
Sharing some overlap with SOCL is thePowerShares Nasdaq Internet Portfolio (PNQI). PNQI's focus is broader in that it holds shares of internet companies in general. All of its holdings are U.S.-listed, but can be headquartered anywhere.
Amazon, Facebook and Netflix are the top three holdings currently, and the fund is up 25.2% year-to-date.
For a full list of this year's top technology ETFs, see the table below:
Top 15 Technology ETFs
[{"Ticker": "EMQQ", "Fund": "Emerging Markets Internet & Ecommerce ETF", "YTDReturn(%)": "43.40"}, {"Ticker": "KWEB", "Fund": "KraneShares CSI China Internet ETF", "YTDReturn(%)": "41.41"}, {"Ticker": "ARKW", "Fund": "ARK Web x.0 ETF", "YTDReturn(%)": "33.53"}, {"Ticker": "SOCL", "Fund": "Global X Social Media ETF", "YTDReturn(%)": "32.65"}, {"Ticker": "CQQQ", "Fund": "Guggenheim China Technology ETF", "YTDReturn(%)": "29.91"}, {"Ticker": "ARKQ", "Fund": "ARK Industrial Innovation ETF", "YTDReturn(%)": "29.26"}, {"Ticker": "PNQI", "Fund": "PowerShares NASDAQ Internet Portfolio", "YTDReturn(%)": "25.22"}, {"Ticker": "IGV", "Fund": "iShares North American Tech-Software ETF", "YTDReturn(%)": "25.08"}, {"Ticker": "IPK", "Fund": "SPDR S&P International Technology Sector ETF", "YTDReturn(%)": "23.40"}, {"Ticker": "PSI", "Fund": "PowerShares Dynamic Semiconductors Portfolio", "YTDReturn(%)": "22.47"}, {"Ticker": "PRNT", "Fund": "3D Printing ETF", "YTDReturn(%)": "22.35"}, {"Ticker": "QTEC", "Fund": "First Trust NASDAQ-100 Technology Sector Index Fund", "YTDReturn(%)": "21.44"}, {"Ticker": "FINX", "Fund": "Global X FinTech ETF", "YTDReturn(%)": "20.65"}, {"Ticker": "IXN", "Fund": "iShares Global Tech ETF", "YTDReturn(%)": "20.39"}, {"Ticker": "MTK", "Fund": "SPDR Morgan Stanley Technology ETF", "YTDReturn(%)": "20.29"}]
Contact Sumit Roy atsroy@etf.com.
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Permalink| © Copyright 2017ETF.com.All rights reserved || Top Tech ETFs Of The Year: Technology investors are partying like it's 1999. That was the infamous final year of the dot-com bubble, when the tech-heavy Nasdaq rose a whopping 86%, an impressive end to one of the greatest bull markets in history. Today's rally may not be as heady as it was back then―nor share prices as inflated―but for the first time in nearly two decades, tech is back to hitting new highs on a consistent basis. As measured by the Technology Select Sector SPDR Fund (XLK) , tech is the top-performing sector of the year, with a return of 15.8%, more than double the gain of the broader S&P 500. Tech heavyweights like Apple, Google, Microsoft and Facebook are hitting new records seemingly every day. Their combined weighting in the S&P 500 is now 11%, while tech as a whole accounts for 23% of the index. It's not just the giants. Tech companies big and small are performing well this year, as evidenced by the 15.9% return for the Guggenheim S&P 500 Equal Weight Technology ETF (RYT) , a fund that gives the same weighting to Apple as it does to every other tech stock in its portfolio. Indeed, to see the best returns among tech-focused exchange-traded funds, investors must venture outside of broad tech ETFs into more niche areas, and in a few cases, outside the U.S. altogether. Here are the top tech ETFs of the year so far. China Internet ETFs At the top of the tech heap are internet ETFs focused on China. The Emerging Markets Internet & Ecommerce ETF (EMQQ) holds internet-related companies across emerging and frontier markets, but China accounts for about two-thirds of the portfolio. Top holdings such as Tencent, Alibaba and Naspers have been on fire this year, buoying EMQQ to a year-to-date gain of 43.4%. The KraneShares CSI China Internet ETF (KWEB) and the broader Guggenheim China Technology ETF (CQQQ) are in the same boat, with returns of 41.4% and 29.9%, respectively, in the period. Though not focused on China, another international tech fund to see sizzling returns this year is the SPDR S&P International Technology Sector ETF (IPK) , with its 23.4% gain. IPK holds a market-cap-weighted basket of tech stocks in developed markets outside of the U.S. Because it targets developed markets, it excludes China, giving it much different exposure than the aforementioned ETFs. Story continues Currently, its three largest holdings are Samsung, SAP and ASML Holding. Disruptive Technology ETFs Back in the U.S., the top tech-focused fund is the ARK Web x.0 ETF (ARKW) , with a nice 33.5% return for the year so far. ARKW is an actively managed ETF that invests in companies that are "expected to benefit from shifting the bases of technology infrastructure to the cloud." Stocks held include firms tied to cloud computing, cyber security, big data, e-commerce and social media platforms. The ETF also holds a 6% position in the Bitcoin Investment Trust (GBTC), something that has served it well, as prices for the digital currency have exploded to the upside recently. Other top holdings include Athenahealth, Amazon and 2U Inc. ARKW is one of five ETFs from ARK Invest , an issuer that focuses on "disruptive innovation." Another of the firm’s active funds to do well so far this year is the ARK Industrial Innovation ETF (ARKQ) , with its 29.3% return. ARKQ invests in companies that are poised to benefit from technological advances related to energy, automation, manufacturing and transportation. Top holdings include Stratasys, Tesla and Nvidia. Social Media ETFs Shares of Snapchat parent Snap Inc. may be struggling this year, but an ETF that holds social media companies more broadly is doing just fine. The Global X Social Media ETF (SOCL) is up a solid 32.7% year-to-date. As the name suggests, SOCL holds a basket of social media stocks from all around the world. From Tencent to Twitter to Facebook, SOCL is a social media pure-play ETF. Sharing some overlap with SOCL is the PowerShares Nasdaq Internet Portfolio (PNQI) . PNQI's focus is broader in that it holds shares of internet companies in general. All of its holdings are U.S.-listed, but can be headquartered anywhere. Amazon, Facebook and Netflix are the top three holdings currently, and the fund is up 25.2% year-to-date. For a full list of this year's top technology ETFs, see the table below: Top 15 Technology ETFs Ticker Fund YTD Return (%) EMQQ Emerging Markets Internet & Ecommerce ETF 43.40 KWEB KraneShares CSI China Internet ETF 41.41 ARKW ARK Web x.0 ETF 33.53 SOCL Global X Social Media ETF 32.65 CQQQ Guggenheim China Technology ETF 29.91 ARKQ ARK Industrial Innovation ETF 29.26 PNQI PowerShares NASDAQ Internet Portfolio 25.22 IGV iShares North American Tech-Software ETF 25.08 IPK SPDR S&P International Technology Sector ETF 23.40 PSI PowerShares Dynamic Semiconductors Portfolio 22.47 PRNT 3D Printing ETF 22.35 QTEC First Trust NASDAQ-100 Technology Sector Index Fund 21.44 FINX Global X FinTech ETF 20.65 IXN iShares Global Tech ETF 20.39 MTK SPDR Morgan Stanley Technology ETF 20.29 Contact Sumit Roy at sroy@etf.com . Recommended Stories Similar Sector ETFs Not Built The Same Tech ETFs Retreat: Pullback Ahead? Best Performing ETFs So Far This Year Top Tech ETFs Of The Year ARKQ Vs. ROBO: Battle Of Edgy Tech ETFs Permalink | © Copyright 2017 ETF.com. All rights reserved || Bitcoin soars above $2,400 to all-time high: (Reuters) - Digital currency bitcoin hit a fresh record high on Wednesday, surging above $2,400, as demand for crypto-assets soared with the creation of new tokens to raise funding for start-ups using blockchain technology.
Blockchain, the underlying technology behind bitcoin, is a financial ledger maintained by a network of computers that can track the movement of any asset without the need for a central regulator.
Bitcoin hit a record of $2,409 (BTC=BTSP) on the BitStamp platform and was last up 4.3 percent at $2,363. So far this year, the price of bitcoin has more than doubled.
A key reason for bitcoin's dominance in the nefarious online underworld, say technologists and cybercrime experts, is its size - the total value of all bitcoins in circulation is more than twice that of the nearest of hundreds of rivals.
Also, a big part of bitcoin's recent surge is the increase in demand for other digital currencies being sold in so-called "initial coin offerings", or ICOs. Under ICOs, blockchain start-ups sell their tokens directly to the public to raise capital without any regulatory oversight.
"Bitcoin up 100 percent in under 2 months. Shanghai down almost 10 percent same timeframe, compared to most global stocks up. Probably not a coincidence!", Jeffrey Gundlach, chief executive at DoubleLine Capital tweeted on Tuesday.
Strong demand for bitcoins in Japan has also fueled the rise of the virtual currency that can be moved like money around the world quickly and anonymously without the need for a central authority.
(Reporting by Sruthi Shankar in Bengaluru; Editing by Martina D'Couto) || Bitcoin soars above $2,400 to all-time high: (Reuters) - Digital currency bitcoin hit a fresh record high on Wednesday, surging above $2,400, as demand for crypto-assets soared with the creation of new tokens to raise funding for start-ups using blockchain technology.
Blockchain, the underlying technology behind bitcoin, is a financial ledger maintained by a network of computers that can track the movement of any asset without the need for a central regulator.
Bitcoin hit a record of $2,409 (BTC=BTSP) on the BitStamp platform and was last up 4.3 percent at $2,363. So far this year, the price of bitcoin has more than doubled.
A key reason for bitcoin's dominance in the nefarious online underworld, say technologists and cybercrime experts, is its size - the total value of all bitcoins in circulation is more than twice that of the nearest of hundreds of rivals.
Also, a big part of bitcoin's recent surge is the increase in demand for other digital currencies being sold in so-called "initial coin offerings", or ICOs. Under ICOs, blockchain start-ups sell their tokens directly to the public to raise capital without any regulatory oversight.
"Bitcoin up 100 percent in under 2 months. Shanghai down almost 10 percent same timeframe, compared to most global stocks up. Probably not a coincidence!", Jeffrey Gundlach, chief executive at DoubleLine Capital tweeted on Tuesday.
Strong demand for bitcoins in Japan has also fueled the rise of the virtual currency that can be moved like money around the world quickly and anonymously without the need for a central authority.
(Reporting by Sruthi Shankar in Bengaluru; Editing by Martina D'Couto) || Bitcoin soars above $2,400 to all-time high: (Reuters) - Digital currency bitcoin hit a fresh record high on Wednesday, surging above $2,400, as demand for crypto-assets soared with the creation of new tokens to raise funding for start-ups using blockchain technology. Blockchain, the underlying technology behind bitcoin, is a financial ledger maintained by a network of computers that can track the movement of any asset without the need for a central regulator. Bitcoin hit a record of $2,409 (BTC=BTSP) on the BitStamp platform and was last up 4.3 percent at $2,363. So far this year, the price of bitcoin has more than doubled. A key reason for bitcoin's dominance in the nefarious online underworld, say technologists and cybercrime experts, is its size - the total value of all bitcoins in circulation is more than twice that of the nearest of hundreds of rivals. Also, a big part of bitcoin's recent surge is the increase in demand for other digital currencies being sold in so-called "initial coin offerings", or ICOs. Under ICOs, blockchain start-ups sell their tokens directly to the public to raise capital without any regulatory oversight. "Bitcoin up 100 percent in under 2 months. Shanghai down almost 10 percent same timeframe, compared to most global stocks up. Probably not a coincidence!", Jeffrey Gundlach, chief executive at DoubleLine Capital tweeted on Tuesday. Strong demand for bitcoins in Japan has also fueled the rise of the virtual currency that can be moved like money around the world quickly and anonymously without the need for a central authority. (Reporting by Sruthi Shankar in Bengaluru; Editing by Martina D'Couto) || Your first trade for Wednesday, May 24: The "Fast Money" traders shared their first moves for the early hours of the trading day.
Pete Najarian was a buyer of Goldman Sachs(NYSE: GS).
Brian Kelly was a buyer of the SPDR S&P Regional Banking ETF(NYSE Arca: KRE).
Steve Grasso was a buyer of KB Home(NYSE: KBH).
Guy Adami was a buyer of Xilinx(NASDAQ: XLNX).
Trader disclosure: On May 23, 2017, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: BK is long Bitcoin, Ethereum, GE, HLF, IWM, TSLA, WMT. Pete Najarian owns calls BAC, BUD, C, CHK, CPN, CRM, DAL, EOG, FEYE, GS, KMI, MDLZ, NBL, NBR, ORCL, RF, TECK, UNP, WFM, WFT, WLL, XLE. Pete is long stock AAP, AAPL, BAC, CL, DIS, DLTR, EMR, FSLR, GILD, GIS, GM, GS, IBM, JWN, K, KMX, KO, KORS, MRK, MSFT, PFE, RL, STX, TPX, UNP, WDC, WFT. Steve Grasso's firm is long stock AON, BX, CTL, CUBA, DIA, F, HES, ICE, KDUS, KORS, MAT, MFIN, MJNA, MSFT, NE, RIG, SNAP, SPY, SQBG, TIME, TITXF, UA, VEON, WDR, WPX, ZNGA. Grasso is long stock BABA, CHK, EEM, EVGN, GDX, JCP, KBH, LEN, MJNA, MO, MON, OLN, PHM, SQ, T, TWTR, VRX. Grasso's kids own EFA, EFG, EWJ, IJR, SPY. No shorts. Guy Adami is long CELG, EXAS, GDX, INTC, Guy Adami's wife, Linda Snow, works at Merck.
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• Your first trade for Thursday, May 18 || Your first trade for Wednesday, May 24: The " Fast Money " traders shared their first moves for the early hours of the trading day. Pete Najarian was a buyer of Goldman Sachs (NYSE: GS) . Brian Kelly was a buyer of the SPDR S&P Regional Banking ETF (NYSE Arca: KRE) . Steve Grasso was a buyer of KB Home (NYSE: KBH) . Guy Adami was a buyer of Xilinx (NASDAQ: XLNX) . Trader disclosure: On May 23, 2017, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: BK is long Bitcoin, Ethereum, GE, HLF, IWM, TSLA, WMT. Pete Najarian owns calls BAC, BUD, C, CHK, CPN, CRM, DAL, EOG, FEYE, GS, KMI, MDLZ, NBL, NBR, ORCL, RF, TECK, UNP, WFM, WFT, WLL, XLE. Pete is long stock AAP, AAPL, BAC, CL, DIS, DLTR, EMR, FSLR, GILD, GIS, GM, GS, IBM, JWN, K, KMX, KO, KORS, MRK, MSFT, PFE, RL, STX, TPX, UNP, WDC, WFT. Steve Grasso's firm is long stock AON, BX, CTL, CUBA, DIA, F, HES, ICE, KDUS, KORS, MAT, MFIN, MJNA, MSFT, NE, RIG, SNAP, SPY, SQBG, TIME, TITXF, UA, VEON, WDR, WPX, ZNGA. Grasso is long stock BABA, CHK, EEM, EVGN, GDX, JCP, KBH, LEN, MJNA, MO, MON, OLN, PHM, SQ, T, TWTR, VRX. Grasso's kids own EFA, EFG, EWJ, IJR, SPY. No shorts. Guy Adami is long CELG, EXAS, GDX, INTC, Guy Adami's wife, Linda Snow, works at Merck. More From CNBC 4 Stocks to buy in a turnaround 6 names that still work Your first trade for Thursday, May 18 || The controversial 'fiduciary rule' is a problem for T. Rowe Price; sell the stock, UBS says: UBS lowered its rating for T. Rowe Price(NASDAQ: TROW)to sell from buy, predicting the government's fiduciary and fee transparency rules will hurt its earnings results next year."While TROW is negatively impacted by the DOL [Department of Labor] fiduciary rule, we view the 2010 DOL rule that increased transparency into 401(k) fees as the underappreciated threat," analyst Brennan Hawken wrote in a note to clients Wednesday. "TROW has a solid domestic franchise with strong investment performance but we see these positives as more than offset by the overhang from the DOL rule, headwinds from corporate 401k lawsuits, and shift towards passive."The new fiduciary rule, which requires advisors to act in the best interests of clients, willtake effectnext month, but then may later be amended.Hawken lowered his price target for T. Rowe Price to $61 from $77, representing 14 percent downside from Tuesday's close.The analyst cited how outflows from the company's target date retirement funds (TDF), which represent 24 percent of the firm's asset under management, are "just beginning." He estimated T. Rowe Price lost more than $2 billion of assets in TDF funds during April.As a result, Hawken lowered his 2018 earnings-per-share estimate for T. Rowe Price to $4.75 from $5.15 compared with the $5.16 Wall Street consensus."Lawsuits stemming from the 2010 DOL rule that increased transparency into 401(k) fees have accelerated in recent years and now there are signs that the trial bar is widening its targets to include smaller plans, which comprise the core of TROW's retirement offering," he wrote.
— CNBC'sMichael Bloomcontributed to this story.
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• Weak tourism sales spell trouble for Tiffany; shares sink 8% || The controversial 'fiduciary rule' is a problem for T. Rowe Price; sell the stock, UBS says: UBS lowered its rating for T. Rowe Price (NASDAQ: TROW) to sell from buy, predicting the government's fiduciary and fee transparency rules will hurt its earnings results next year. "While TROW is negatively impacted by the DOL [Department of Labor] fiduciary rule, we view the 2010 DOL rule that increased transparency into 401(k) fees as the underappreciated threat," analyst Brennan Hawken wrote in a note to clients Wednesday. "TROW has a solid domestic franchise with strong investment performance but we see these positives as more than offset by the overhang from the DOL rule, headwinds from corporate 401k lawsuits, and shift towards passive." The new fiduciary rule, which requires advisors to act in the best interests of clients, will take effect next month, but then may later be amended. Hawken lowered his price target for T. Rowe Price to $61 from $77, representing 14 percent downside from Tuesday's close. The analyst cited how outflows from the company's target date retirement funds (TDF), which represent 24 percent of the firm's asset under management, are "just beginning." He estimated T. Rowe Price lost more than $2 billion of assets in TDF funds during April. As a result, Hawken lowered his 2018 earnings-per-share estimate for T. Rowe Price to $4.75 from $5.15 compared with the $5.16 Wall Street consensus. "Lawsuits stemming from the 2010 DOL rule that increased transparency into 401(k) fees have accelerated in recent years and now there are signs that the trial bar is widening its targets to include smaller plans, which comprise the core of TROW's retirement offering," he wrote. — CNBC's Michael Bloom contributed to this story. More From CNBC Bitcoin surges to record above $2,400, bringing 2017 gain to nearly 150% The race to $1,000 – Alphabet and Amazon hit new record highs Weak tourism sales spell trouble for Tiffany; shares sink 8% || A sneak peek inside New York City's first Amazon bookstore: Amazon(NASDAQ: AMZN)'s first New York City bookstore, Amazon Books, will open on Thursday morning, marking Amazon's highest-profile move into bricks-and-mortar retail to date.
With over 3,000 titles on sale, the Columbus Circle store is one of two stores planned for the Big Apple, and six that are already open around the U.S. By displaying ratings and reviews, the store leverages Amazon's 20 years of book-selling data, in many ways mimicking the experience of Amazon.com.
Amazon Books divides books into sections by what is popular nearby and what is read fastest on Kindle. In the most popular area of the store, books are displayed on shelves in groupings that often recommended together online.
A customer review, the number of total Amazon.com reviews and a star rating are displayed under each book on the shelf. All the books in the store either received four-star ratings and above on Amazon.com, or come from lists of best sellers or a hand-curated selection of new, yet-to-be reviewed titles.
Amazon even selected the Columbus Circle neighborhood on Manhattan's west side based on data about nearby book purchases, Kindle ownership and Prime membership, in addition to factors like foot traffic and tourism, according to Jennifer Cast, vice president of Amazon Books.
Online shopping tends to be driven by searches for products that users already know about, Cast said. But the brick-and-mortar locations aim to provide a "mecca of discovery" for book lovers, Cast said. The books all have the covers, not the spines, facing out, to encourage browsing —even though the store could have fit as many as 5,000 more titles if books were displayed the conventional way, Cast said.
The store also provides a strong incentive for customers to join Amazon's online loyalty program, Prime — a program that analysts say prompts more spending on Amazon.com. Though it's possible to check out like a regular bookstore, Amazon Books offers significant discounts to Amazon Prime members who make purchases through the app.
It's all part of Amazon's push to give consumers new ways to shop with more information and flexibility, Cast said.
Using a camera within the app, consumers can scan their purchases, opting to either have them shipped or scanned by the cashier. There's also an electronics section with Amazon's Kindles and Echos, and more technology-inspired products are coming, including more integration with audiobooks on Audible, Cast said.
Amazon first made its name selling books, but the bookstores are far from its only brick-and-mortar experiment. The company also has plans forconvenience stores and grocery storesthat use cutting-edge technologies like computer vision.
Amazon's new store, which opens at 10 a.m. ET on Thursday, will open as many big retailers are closing their physical locations and moving online. Retailer Bebe decided last month toclose all its stores, and JCPenney kicked offliquidation salesthis week ahead of the closure of 138 stores.
Analysts say that Amazon stands to benefit most from some of the pain in the retail industry. Cantor Fitzgerald Amazon analyst Naved Khan noted that store closures announcements this year are two times higher than a year ago, amid competitive advantages for Amazon.
Publishers also complain that as more books appear on Amazon, it'sharder to pay authorsand dampens demand for risky or unusual books.
But Cast said the "small but great" store represents Amazon's philosophy of using "data with heart." Rather than rely on just a few book store employees to cater to everyone's taste, "we let our customers be the voice," Cast said.
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• Start-up training experts to help people figure out what genetic tests mean || Bigger than bitcoin? Enterprise Ethereum Alliance grows in size: Corporate support for the Enterprise Ethereum Alliance (EEA) is growing after 86 firms including State Street, Toyota, Merck, ING, Broadridge and Rabobank joined the collective that is seeking to use blockchain technology to run smart contracts at Fortune 500 companies. Ethereum is an open-source, public, blockchain that anyone can use as a decentralized ledger. It has its own cryptocurrency called ether on the front-end, which is similar to Bitcoin, but the underlying Ethereum network is what is attracting companies' interest. While the original Bitcoin (Exchange: BTC=-USS) blockchain has tended to be used for consumer payment transactions, the adoption of Ethereum blockchain technology by the corporate world means it could eventually be bigger than its early stage rival. Ethereum technology is specifically intended to support smart contract applications that can automate complex physical and financial supply chain procedures and compliance processes involving multiple parties. It has numerous potential internal end uses such as reconciliation. A smart contract on the Ethereum network is merely a way for people to make agreements and automate enforcement, all on a distributed network of computers. The contract is essentially an operating procedure that aids efficient management. John Hancock Financial, for example, is experimenting with a tailored version of Ethereum to keep track of compliance with know your customer (KYC) and anti-money laundering (AML) regulations in its wealth management unit. Meanwhile, European aircraft maker Airbus is testing to see if its supply chain management can be shifted to a blockchain that relies on Ethereum. JPMorgan Chase, Microsoft, CME Group, BNY Mellon and other large multinationals are already EEA members, having joined when it was established in February 2017. In a statement, Julio Faura, chairman of the EEA and head of blockchain innovation at Banco Santander, said, "the enthusiasm around EEA is remarkable". Story continues He added: "Our new members come from varying industries such as pharma, mobile, banking, automotive, management consulting, and hardware." Rival networks The EEA is not alone in seeking to create standards for blockchain systems. Rivals include the R3 consortium, Digital Asset Holdings and the Hyperledger Project. The latter is being used by the SWIFT global payment and securities messaging network for the third stage of its global payments innovation (gpi) project which seeks to make international payments as fast and easy to track as logistics deliveries. It is in the early stages of a distributed ledger technology (DLT), aka blockchain, proof of concept (PoC) that is not expected to come to fruition for many years yet. In the meantime, Ripple has its own rival protocol for correspondent banks using Interledger that it hopes to attract volume to before SWIFT's PoC gains traction. Challenges As with any new technology a number of caveats apply to blockchain technology, principally that it is yet to be proven by anything other than small scale or pilot applications to date. Regulators will also need convincing that the networks are safe. Convincing competitors to work together in a network that shares market information may also prove difficult. For instance, Goldman Sachs and Morgan Stanley left the R3 consortium last year to pursue their own blockchain projects and alternative collaborations, potentially harming its prospects of producing useful real-world applications of the still experimental blockchain technology. If a chain or end use application offers a massive competitive advantage then certain groups may seek to hive off their own separate 'chains' to which they will control access, which is another destabilizing factor. Permissioned vs. permissionless chains Arguments are raging over the degree to which public or closed access should be allowed on different blockchains, which are commonly referred to as permissionless or permissioned 'chains'. Most corporates and banks favor permissioned chains as they can apply minimum security, compliance and other standards, while technology evangelists and fintech disruptors tend to favor the more open permissionless model as they believe the full network benefits of the technology accrue this way. In the same way that the internet and specifically the later world wide web works so well because everyone has access to it and protocols such as the SSL security layer are shared the tech evangelists argue that the blockchain should be maintained as a public project for the benefit of all. Only time will tell who wins the debate. But the net itself has already gone through numerous iterations and the public vs. private discussion is a constant theme in that field, as much as it is in the blockchain arena. Follow CNBC International on Twitter and Facebook . More From CNBC Top News and Analysis Latest News Video Personal Finance || Bigger than bitcoin? Enterprise Ethereum Alliance grows in size: Corporate support for the Enterprise Ethereum Alliance (EEA) is growing after 86 firms including State Street, Toyota, Merck, ING, Broadridge and Rabobank joined the collective that is seeking to use blockchain technology to run smart contracts at Fortune 500 companies.
Ethereum is an open-source, public, blockchain that anyone can use as a decentralized ledger. It has its own cryptocurrency calledetheron the front-end, which is similar to Bitcoin, but the underlying Ethereum network is what is attracting companies' interest.
While the original Bitcoin(Exchange: BTC=-USS)blockchain has tended to be used for consumer payment transactions, the adoption of Ethereum blockchain technology by the corporate world means it could eventually be bigger than its early stage rival.
Ethereum technology is specifically intended to support smart contract applications that can automate complex physical and financial supply chain procedures and compliance processes involving multiple parties. It has numerous potential internal end uses such as reconciliation.
A smart contract on the Ethereum network is merely a way for people to make agreements and automate enforcement, all on a distributed network of computers. The contract is essentially an operating procedure that aids efficient management.
John Hancock Financial, for example, is experimenting with a tailored version of Ethereum to keep track of compliance with know your customer (KYC) and anti-money laundering (AML) regulations in its wealth management unit.
Meanwhile, European aircraft maker Airbus is testing to see if its supply chain management can be shifted to a blockchain that relies on Ethereum.
JPMorgan Chase, Microsoft, CME Group, BNY Mellon and other large multinationals are already EEA members, having joined when it was established in February 2017.
In a statement, Julio Faura, chairman of the EEA and head of blockchain innovation at Banco Santander, said, "the enthusiasm around EEA is remarkable".
He added: "Our new members come from varying industries such as pharma, mobile, banking, automotive, management consulting, and hardware."
The EEA is not alone in seeking to create standards for blockchain systems. Rivals include the R3 consortium, Digital Asset Holdings and the Hyperledger Project.
The latter is being used by the SWIFT global payment and securities messaging network for the third stage of its global payments innovation (gpi) project which seeks to make international payments as fast and easy to track as logistics deliveries. It is in the early stages of a distributed ledger technology (DLT), aka blockchain, proof of concept (PoC) that is not expected to come to fruition for many years yet.
In the meantime, Ripple has its own rival protocol for correspondent banks using Interledger that it hopes to attract volume to before SWIFT's PoC gains traction.
As with any new technology a number of caveats apply to blockchain technology, principally that it is yet to be proven by anything other than small scale or pilot applications to date. Regulators will also need convincing that the networks are safe.
Convincing competitors to work together in a network that shares market information may also prove difficult. For instance, Goldman Sachs and Morgan Stanley left the R3 consortium last year to pursue their own blockchain projects and alternative collaborations, potentially harming its prospects of producing useful real-world applications of the still experimental blockchain technology.
If a chain or end use application offers a massive competitive advantage then certain groups may seek to hive off their own separate 'chains' to which they will control access, which is another destabilizing factor.
Arguments are raging over the degree to which public or closed access should be allowed on different blockchains, which are commonly referred to as permissionless or permissioned 'chains'.
Most corporates and banks favor permissioned chains as they can apply minimum security, compliance and other standards, while technology evangelists and fintech disruptors tend to favor the more open permissionless model as they believe the full network benefits of the technology accrue this way.
In the same way that the internet and specifically the later world wide web works so well because everyone has access to it – and protocols such as the SSL security layer are shared – the tech evangelists argue that the blockchain should be maintained as a public project for the benefit of all.
Only time will tell who wins the debate. But the net itself has already gone through numerous iterations and the public vs. private discussion is a constant theme in that field, as much as it is in the blockchain arena.
Follow CNBC International onTwitterandFacebook.
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• Personal Finance || Here's why Ford is panicking in self-driving cars: Alphabet is years ahead of everybody: The recent CEO shuffle at Ford(NYSE:F)suggests it's getting serious about self-driving cars: On Monday, itpromoted its head of "Smart Mobility,"Jim Hackett, to the CEO role.
But statistics show that Ford -- and every other car maker -- is way behind Waymo, the self-driving car unit of Google parent Alphabet(GOOGL), when it comes to testing autonomous cars on real roads.
In the year that ended on Nov. 30, 60 Waymo cars drove more than 635,000 miles in autonomous mode on public roads in California.
Ford's cars -- a pair of Fusion hybrid sedans -- went just 590 miles, according todocumentson file with the California Department of Motor Vehicles.
But what's even more significant is how much farther Waymo cars can go before a human driver has to take over. For Waymo, one of these so-called disengagements happened, on average, every 5,127 miles. The Ford cars went 196 miles before a disengagement. Ford might have better numbers to show as it drives more miles, but for now the Waymo cars do appear to be more stable.
These statistics are admittedly six months out of date -- the companies haven't reported since then -- and Ford is also testing self-driving cars in Michigan. But the fact that Waymo has driven more than 1,000 times as many self-driving miles in California is an indication of how long Alphabet (and previously Google) have been seriously tackling the problem.
The other car makers are similarly behind. Here's a snapshot of the data from the documents:
• Waymo: 635,867 miles driven, 5,127 miles/disengagement
• GM/Cruise: 9,668 miles driven, 34 miles/disengagement
• Nissan: 4,099 miles driven, 28 miles/disengagement
• Bosch: 983 miles driven, 0.6 miles/disengagement
• Mercedes: 673 miles driven, 2 miles/disengagement
• BMW: 638 miles driven, 638 miles/disengagement
• Ford: 590 miles driven, 196 miles/disengagement
• Tesla: 550 miles driven, 3 miles/disengagement
Small wonder financial analysts are excited about the Alphabet opportunity. On Tuesday Morgan Stanley issued a note suggesting that Waymo could be worth more than$70 billion by 2030. The number of miles driven represents a key factor in the analysts' calculation of that figure.
Last week alternative cab service Lyft -- which has its own self-driving car fleet --saidit would work with Waymo on autonomous driving. That deal will surely benefit Waymo. As a spokesperson told theNew York Times, it will "help Waymo's self-driving technology reach more people, in more places."
Given that Ford is so far back in Waymo's rear-view mirror, Ford might well move to sign similar deals with partners in an effort to gain more autonomous driving experience. It could also push many more cars onto public roads.
The company has given itself some time to improve. Last year Fordsaidit aimed to have an autonomous vehicle available for ride sharing by 2021.
Watch: Full interview with Bill Ford on the change at the top
More From CNBC
• Bitcoin may have doubled this year, but rival Ethereum is up 2,000%. Here's why
• Start-up training experts to help people figure out what genetic tests mean
• Silicon Valley VCs are tripping over themselves to hire biotech experts || Here's why Ford is panicking in self-driving cars: Alphabet is years ahead of everybody: The recent CEO shuffle at Ford (NYSE: F ) suggests it's getting serious about self-driving cars: On Monday, it promoted its head of "Smart Mobility," Jim Hackett, to the CEO role. But statistics show that Ford -- and every other car maker -- is way behind Waymo, the self-driving car unit of Google parent Alphabet ( GOOGL ) , when it comes to testing autonomous cars on real roads. In the year that ended on Nov. 30, 60 Waymo cars drove more than 635,000 miles in autonomous mode on public roads in California. Ford's cars -- a pair of Fusion hybrid sedans -- went just 590 miles, according to documents on file with the California Department of Motor Vehicles. But what's even more significant is how much farther Waymo cars can go before a human driver has to take over. For Waymo, one of these so-called disengagements happened, on average, every 5,127 miles. The Ford cars went 196 miles before a disengagement. Ford might have better numbers to show as it drives more miles, but for now the Waymo cars do appear to be more stable. These statistics are admittedly six months out of date -- the companies haven't reported since then -- and Ford is also testing self-driving cars in Michigan. But the fact that Waymo has driven more than 1,000 times as many self-driving miles in California is an indication of how long Alphabet (and previously Google) have been seriously tackling the problem. The other car makers are similarly behind. Here's a snapshot of the data from the documents: Waymo: 635,867 miles driven, 5,127 miles/disengagement GM/Cruise: 9,668 miles driven, 34 miles/disengagement Nissan: 4,099 miles driven, 28 miles/disengagement Bosch: 983 miles driven, 0.6 miles/disengagement Mercedes: 673 miles driven, 2 miles/disengagement BMW: 638 miles driven, 638 miles/disengagement Ford: 590 miles driven, 196 miles/disengagement Tesla: 550 miles driven, 3 miles/disengagement Small wonder financial analysts are excited about the Alphabet opportunity. On Tuesday Morgan Stanley issued a note suggesting that Waymo could be worth more than $70 billion by 2030 . The number of miles driven represents a key factor in the analysts' calculation of that figure. Story continues Last week alternative cab service Lyft -- which has its own self-driving car fleet -- said it would work with Waymo on autonomous driving. That deal will surely benefit Waymo. As a spokesperson told the New York Times , it will "help Waymo's self-driving technology reach more people, in more places." Given that Ford is so far back in Waymo's rear-view mirror, Ford might well move to sign similar deals with partners in an effort to gain more autonomous driving experience. It could also push many more cars onto public roads. The company has given itself some time to improve. Last year Ford said it aimed to have an autonomous vehicle available for ride sharing by 2021. Watch: Full interview with Bill Ford on the change at the top More From CNBC Bitcoin may have doubled this year, but rival Ethereum is up 2,000%. Here's why Start-up training experts to help people figure out what genetic tests mean Silicon Valley VCs are tripping over themselves to hire biotech experts || Jeff Gundlach has a theory on why bitcoin is surging: Jeffrey Gundlach, CEO of DoubleLine Capital, said Tuesday there could be a connection between bitcoin prices and the decline inChinesestocks.
In a Tuesday afternoon tweet, Gundlach noted that bitcoin has doubled in less than 2 months, while the Shanghai composite has fallen "almost 10%" over the same time period. In contrast, most major indexes have climbed so far this year — the MSCI World Index is up nearly 8.8 percent.
The theory is the Chinese search for safe investments outside the country when asset prices fall sends buyers intobitcoin. The Chinese yuan's weakness in the last two years has also contributed to capital flight.
However, now more than just Chinese investors are driving bitcoin's price. Gundlach isn't wrong — there's just more to the story.
"I think it is part of the equation but not the entire reason for the move in bitcoin," said Brian Kelly, CEO of BKCM and a CNBC contributor, in an email.
Kelly, who manages a fund focused on digital currencies, pointed to increased demand from trade denominated in Japanese yen and the U.S. dollar.
Trade in the Japanese yen has taken a greater share of volume, sometimes about half, as local authorities recognized bitcoin as a legal form of pay.
Meanwhile, Chinese demand shrank drastically this January when the People's Bank of China began investigating local bitcoin exchanges.
China's share of global bitcoin trade volume, as measured by trade in yuan, has fallen from a roughly 80 to 95 percent share to 10 percent or less since January, according to CryptoCompare.
Six-month bitcoin trade volume by currency
Source: CryptoCompare
The Shanghai composite(Shanghai Stock Exchange: .SSEC)has also fallen this year under pressure from increased Chinese regulation. The index is also down not quite 10 percent over the last two months — the composite has fallen 5.65 percent between March 22 and Tuesday, in local currency terms.
Bitcoin has risen 120 percent from $1,037.44 on March 22 to a fresh record of $2,291.09 on Tuesday.
More From CNBC
• Fed minutes in the spotlight on Wall Street; oil, data in focus
• US Treasurys higher as bond investors eye FOMC minutes, data
• Australia's market operator eyes more offshore listings || Now I get it: Ransomware: On May 12, a computer worm called WannaCry began infecting over300,000 Windows computersin 150 countries—and made headlines around the world. Here’s what you need to know.
Why the headlines? First, because WannaCry is one of the most widespread cases of ransomware—software that encrypts all of the files on your PC, and will not unlock them until you pay the bad guys. In WannaCry’s case, you’re supposed to pay $300 within three days; at that point, the price goes up. If you still haven’t paid in a week, all your files are gone forever. (Here’s what it looks likeif you’re infected.)
(Why can’t the authorities just track who the money’s going to, and thereby catch the bad guys? Because you have to pay in Bitcoin, which is a digital currency whose transactions are essentially anonymous. Here’smy explainer on Bitcoin.)
The second notable feature: The WannaCry malware took advantage of a security hole in Windows that had already been discovered by the U.S. National Security Agency (NSA). But instead of letting Microsoft (MSFT) know what it had found, the NSA kept it a secret and, in fact, decided to write a “virus” of its own to exploit it.
Ransomware isnasty. There’s no way out, no fix. And even if you pay up, there’s no guarantee you’ll get your files back; some of these ransomware people take your money and run. (Why can’t these low-life hackers have more of a sense of decency?)
So why doesn’t Microsoft fix Windows’s security holes? It does—all the time. For example, if you have Windows 10, you’re safe from WannaCry. And even if you have Windows 7 or 8, and you accept Microsoft’s steady flow of software updates, you’re fine, too; Microsoft patched this hole back in March.
The only people vulnerable to WannaCry are people running old versions of Windows, and people who don’t keep their Windows updated with Microsoft’s free patches.
Here’s the real irony: Typically, a researcher discovers a security hole in Windows—and quietly tells Microsoft. Microsoft’s engineers write and release a patch—for a hole the hackers hadn’t known about before. But the bad guys know that millions of people won’t install that patch. So they write the virusafterMicrosoft has fixed the hole! They get the idea from the fix.
In any case, ransomware loves to target corporate networks: hospitals, banks, airlines, governments, utility companies, and so on. These are places that often don’t regularly update their copies of Windows. (Lots of them still run Windows XP, which is 16 years old. Microsoft no longer supports Windows XP, but to its credit, it has written and released a patch to prevent WannaCry for Windows XP, too.)
If you’d rather not get a ransomware infection on your PC, here’s what to do.
• Back up your computer.I know you know. Butonly 8% of people backup daily, according to a 2016 poll of over 2,000 people. For $74, you can geta 2-terabye backup drive, and use your PC’s automatic backup software. Thereafter, if your files get locked by ransomware, you lose only a couple of hours as you restore from your backup. (For best results, keep the backup drive detached when you’re not using it, since some ransomware seeks out other connected drives.)
• Turn on automatic updating of Windows.Get those patches before the bad guys do.
• Don’t open file attachments you’re not expecting. Even if they seem to come from people you know. Don’t open zip files that come by email. Don’t ever click links that seem to be from your bank, or Google, or Amazon; they’re just trying to trick you into giving them your passwords.Here’s my explaineron those “phishing” scams.
Backup, turn on updating, don’t open email attachments you’re not expecting.
This has been a public service message.
More from David Pogue:
Inside the World’s Greatest Scavenger Hunt:Part 1•Part 2•Part 3•Part 4•Part 5
Google Home’s mastermind has no intention of losing to Amazon
Google exec explains how Google Assistant just got smarter
Amazon’s Alexa calling is like a Jetsons version of the home phone || Now I get it: Ransomware: On May 12, a computer worm called WannaCry began infecting over 300,000 Windows computers in 150 countriesand made headlines around the world. Heres what you need to know. Meet ransomware Why the headlines? First, because WannaCry is one of the most widespread cases of ransomware software that encrypts all of the files on your PC, and will not unlock them until you pay the bad guys. In WannaCrys case, youre supposed to pay $300 within three days; at that point, the price goes up. If you still havent paid in a week, all your files are gone forever. ( Heres what it looks like if youre infected.) (Why cant the authorities just track who the moneys going to, and thereby catch the bad guys? Because you have to pay in Bitcoin, which is a digital currency whose transactions are essentially anonymous. Heres my explainer on Bitcoin .) The second notable feature: The WannaCry malware took advantage of a security hole in Windows that had already been discovered by the U.S. National Security Agency (NSA). But instead of letting Microsoft ( MSFT ) know what it had found, the NSA kept it a secret and, in fact, decided to write a virus of its own to exploit it. Ransomware is nasty . Theres no way out, no fix. And even if you pay up, theres no guarantee youll get your files back; some of these ransomware people take your money and run. (Why cant these low-life hackers have more of a sense of decency?) How security holes get patched So why doesnt Microsoft fix Windowss security holes? It doesall the time. For example, if you have Windows 10, youre safe from WannaCry. And even if you have Windows 7 or 8, and you accept Microsofts steady flow of software updates, youre fine, too; Microsoft patched this hole back in March. The only people vulnerable to WannaCry are people running old versions of Windows, and people who dont keep their Windows updated with Microsofts free patches. Heres the real irony: Typically, a researcher discovers a security hole in Windowsand quietly tells Microsoft. Microsofts engineers write and release a patchfor a hole the hackers hadnt known about before. But the bad guys know that millions of people wont install that patch. So they write the virus after Microsoft has fixed the hole! They get the idea from the fix. Story continues In any case, ransomware loves to target corporate networks: hospitals, banks, airlines, governments, utility companies, and so on. These are places that often dont regularly update their copies of Windows. (Lots of them still run Windows XP, which is 16 years old. Microsoft no longer supports Windows XP, but to its credit, it has written and released a patch to prevent WannaCry for Windows XP, too.) How not to get ransomware If youd rather not get a ransomware infection on your PC, heres what to do. Back up your computer. I know you know. But only 8% of people backup daily , according to a 2016 poll of over 2,000 people. For $74, you can get a 2-terabye backup drive , and use your PCs automatic backup software. Thereafter, if your files get locked by ransomware, you lose only a couple of hours as you restore from your backup. (For best results, keep the backup drive detached when youre not using it, since some ransomware seeks out other connected drives.) Turn on automatic updating of Windows. Get those patches before the bad guys do. Dont open file attachments youre not expecting . Even if they seem to come from people you know. Dont open zip files that come by email. Dont ever click links that seem to be from your bank, or Google, or Amazon; theyre just trying to trick you into giving them your passwords. Heres my explainer on those phishing scams. Backup, turn on updating, dont open email attachments youre not expecting. This has been a public service message. More from David Pogue: Inside the Worlds Greatest Scavenger Hunt: Part 1 Part 2 Part 3 Part 4 Part 5 Google Homes mastermind has no intention of losing to Amazon Google exec explains how Google Assistant just got smarter Amazons Alexa calling is like a Jetsons version of the home phone
[Social Media Buzz]
#bitcoin #miner Bitmain AntMiner S7 4.86TH/s Bitcoin Miner ASIC 700M $499.00 http://ift.tt/2rmcQyz pic.twitter.com/JJbh9dmW60 || Current price of $BTC is $2700.00 via Chain #bitcoin #btc || Sign up for Luno and get ZAR 10.00 worth of Bitcoin when you buy or sell ZAR 500.00, using https://www.luno.com/invite/937BZ || #bitcoin #miner Bitmain AntMiner S7 4.86TH/s Bitcoin Miner ASIC 700M $499.00 http://ift.tt/2rmemRq pic.twitter.com/mRjAqt7bcK || $2674.97 at 10:30 UTC [24h Range: $2318.01 - $2675.0...
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2202.42, 2038.87, 2155.80, 2255.61, 2175.47, 2286.41, 2407.88, 2488.55, 2515.35, 2511.81
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Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 47504.85, 47105.52, 48717.29, 47945.06, 49199.87, 52149.01, 51679.80, 55888.13, 56099.52, 57539.95, 54207.32, 48824.43, 49705.33, 47093.85, 46339.76, 46188.45, 45137.77, 49631.24, 48378.99, 50538.24, 48561.17, 48927.30, 48912.38, 51206.69, 52246.52, 54824.12, 56008.55, 57805.12, 57332.09, 61243.09, 59302.32, 55907.20, 56804.90, 58870.89, 57858.92, 58346.65, 58313.64, 57523.42, 54529.14, 54738.95, 52774.27, 51704.16, 55137.31, 55973.51, 55950.75, 57750.20, 58917.69, 58918.83, 59095.81, 59384.31, 57603.89, 58758.55, 59057.88, 58192.36, 56048.94, 58323.95, 58245.00, 59793.23, 60204.96, 59893.45, 63503.46, 63109.70, 63314.01, 61572.79, 60683.82, 56216.18, 55724.27, 56473.03, 53906.09, 51762.27, 51093.65, 50050.87, 49004.25, 54021.75, 55033.12, 54824.70, 53555.11, 57750.18, 57828.05, 56631.08, 57200.29, 53333.54, 57424.01, 56396.52, 57356.40, 58803.78, 58232.32, 55859.80, 56704.57, 49150.54.
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[Bitcoin Technical Analysis for 2021-05-12]
Volume: 75215403907, RSI (14-day): 37.13, 50-day EMA: 55437.23, 200-day EMA: 41940.85
[Wider Market Context]
Gold Price: 1822.60, Gold RSI: 62.91
Oil Price: 66.08, Oil RSI: 62.71
[Recent News (last 7 days)]
LoserSwap’s LOWB Is Badge of Honor for Self-Deprecating Chinese Crypto Traders: It’s a truism among government officials, from theBank of England’s governorto theU.S. Treasury secretary, that cryptocurrencies can lead to painful losses for hapless traders piling into a risky game.
But a new cryptocurrency project in China named LoserSwap apparently seeks to own failure, and the concept is gaining a surprising following.
Loser coin, as the associated digital token is known, comes with the trading symbol LOWB – a derogatory term when expressed in the equivalent Chinese spelling. The token works as part of a decentralized platform for exchanging digital assets – similar to the popular protocol PancakeSwap atop Binance Smart Chain (BSC), which is a public blockchain network started by the cryptocurrency exchange Binance. LoserSwap is also based on BSC, and the LOWB/USDTpair first started tradingon PancakeSwap.
Related:Trial Gets Under Way for Well-Known Crypto Executive in China
The two-person team behind LoserSwap recently hosted an online “Ask Me Anything” event, whichwent viralon the Chinese app WeChat, with fans appearing to warm to the surprisingly candid answers.
“We missed out the whole bull run and are too scared to go into the market right now,” the team members said in response to a question on why they launched Loser Swap. “We decided to launch a token ourselves just for fun.”
At press time, LOWB was changing hands at $0.002139, doubling in price over the prior 24 hours, for a market capitalization of $120.6 million, based on a circulating supply of 60 billion tokens, perCoinMarketCap data.
The self-deprecation culture has deep roots in China, where small, individual investors in the domestic stock marketoften think they’re exploitedby big institutions that own the majority of shares. Mom-and-pop investors sometimes refer to themselves as “chives,” a common vegetable in the Chinese diet. The idea is that they’re ripe for harvesting and ingesting by big players, and are resigned to major losses.
Related:DOGE Imitators Help Send Ethereum Transaction Fees to All-Time Highs
The project’s website reads like a Chinese proverb on the inevitability of life’s letdowns.
“A poor young man from a fourth-tier city in China invited another poor programmer to jointly launch the loser coin project, the token LOWB,”it reads. “This project was established with a zero mentality. On the day of the project’s launch, the two people took out all their savings to add a liquidity pool. The project promised not to protect the market (mainly lacking strength) and not to run away.”
Trading patterns in LOWB bear remarkable similarities to the anything-goes, just-for-fun price pumps (and dumps) witnessed in social-media-fueled crazes like this year’s frenzy in the joke cryptocurrencydogecoin, or the stock-trading hijinks in GameStop shares in the U.S. stock market.
Just like the vegetable that regrows after parts are harvested, the LOWB price has shown a tendency to keep surging anew because the retail investors in China always return to the market – stocks or crypto – to test their luck once again.
Characterizations of the token’s supply – a crucial investing consideration for many investors in major cryptocurrencies likebitcoinandether– can’t be taken too seriously.
According to the project’swebsite, there are 100 billion loser coins outstanding, including 20 billion distributed by airdrops, 20 billion to mining pools and 50 billion for in liquid mining “in the later stage.”
The project’s leaders “don’t know how to deal with” the remaining 10 billion, according to the website.
Such self-deprecation hasn’t stopped retail investors in China from pouring their money into LOWB. They see the project and its co-founders as straightforward, harmless, one of us.
There is already a loser coin fanwebsitewith the name “the head of chives.” Posters on the site repeatedly seek mutual assurances that fellow traders will buy and hold LOWB. They also share ridiculous posts about their experiences losing money in the bull market.
One posttitled“How to know if you’re a loser” listed seven criteria to qualify as a loser, including “loving cheap or free items such as LOWB,” and, “Always feel like you are not fitting in; you always lose money when everyone else is making money.”
“Most retail investors don’t understand the technology” of the projects behind the tokens, said Jeff Zhang, co-founder of a China-based crypto investment firm BlockArk. “There has been a sense of fatigue and antipathy among them after investing in way too many crypto projects.”
On loser coin’s official Telegram group, there were nearly 2,000 active members around midnight in China on Tuesday half-jokingly and half-seriously discussing how they can become instantly rich.
“Time for late night snacks,” one user said in the Telegram group, with a picture of an often costly Chinese dish known as “Buddha jumps over the wall,” made with shark fin, quail eggs, sea cucumber and pork tendons. (Chives aren’t a key ingredient, for what it’s worth.)
“It looks very ‘winner,’” one user followed up.
“You do not look ‘low’ at all,” a second user commented. The derision was palpable.
Annabelle Huang, a partner at Hong Kong-based crypto finance service provider Amber Group, compared the popularity of loser coin to the recent affection in China for theshiba inu token, which bills itself as a “dogecoin killer.”The GameStop maniais another easy comparison, she said.
“Bitcoin is seen more as the establishment and institutional play,” Huang said. “So people are turning to tokens that are more grassroots.”
They just have to be ready to lose.
• Bitcoin News Roundup for May 11, 2021
• Elon Musk Runs Twitter Poll on Whether Tesla Should Accept Dogecoin || LoserSwap’s LOWB Is Badge of Honor for Self-Deprecating Chinese Crypto Traders: It’s a truism among government officials, from the Bank of England’s governor to the U.S. Treasury secretary , that cryptocurrencies can lead to painful losses for hapless traders piling into a risky game. But a new cryptocurrency project in China named LoserSwap apparently seeks to own failure, and the concept is gaining a surprising following. Loser coin, as the associated digital token is known, comes with the trading symbol LOWB – a derogatory term when expressed in the equivalent Chinese spelling. The token works as part of a decentralized platform for exchanging digital assets – similar to the popular protocol PancakeSwap atop Binance Smart Chain (BSC), which is a public blockchain network started by the cryptocurrency exchange Binance. LoserSwap is also based on BSC, and the LOWB/ USDT pair first started trading on PancakeSwap . Related: Trial Gets Under Way for Well-Known Crypto Executive in China The two-person team behind LoserSwap recently hosted an online “Ask Me Anything” event, which went viral on the Chinese app WeChat, with fans appearing to warm to the surprisingly candid answers. “We missed out the whole bull run and are too scared to go into the market right now,” the team members said in response to a question on why they launched Loser Swap. “We decided to launch a token ourselves just for fun.” At press time, LOWB was changing hands at $0.002139, doubling in price over the prior 24 hours, for a market capitalization of $120.6 million, based on a circulating supply of 60 billion tokens, per CoinMarketCap data . Everyone here is a chive The self-deprecation culture has deep roots in China, where small, individual investors in the domestic stock market often think they’re exploited by big institutions that own the majority of shares. Mom-and-pop investors sometimes refer to themselves as “ chives, ” a common vegetable in the Chinese diet. The idea is that they’re ripe for harvesting and ingesting by big players, and are resigned to major losses. Story continues Related: DOGE Imitators Help Send Ethereum Transaction Fees to All-Time Highs The project’s website reads like a Chinese proverb on the inevitability of life’s letdowns. “A poor young man from a fourth-tier city in China invited another poor programmer to jointly launch the loser coin project, the token LOWB,” it reads . “This project was established with a zero mentality. On the day of the project’s launch, the two people took out all their savings to add a liquidity pool. The project promised not to protect the market (mainly lacking strength) and not to run away.” Trading patterns in LOWB bear remarkable similarities to the anything-goes, just-for-fun price pumps (and dumps) witnessed in social-media-fueled crazes like this year’s frenzy in the joke cryptocurrency dogecoin , or the stock-trading hijinks in GameStop shares in the U.S. stock market. Just like the vegetable that regrows after parts are harvested, the LOWB price has shown a tendency to keep surging anew because the retail investors in China always return to the market – stocks or crypto – to test their luck once again. Characterizations of the token’s supply – a crucial investing consideration for many investors in major cryptocurrencies like bitcoin and ether – can’t be taken too seriously. According to the project’s website , there are 100 billion loser coins outstanding, including 20 billion distributed by airdrops, 20 billion to mining pools and 50 billion for in liquid mining “in the later stage.” The project’s leaders “don’t know how to deal with” the remaining 10 billion, according to the website. Such self-deprecation hasn’t stopped retail investors in China from pouring their money into LOWB. They see the project and its co-founders as straightforward, harmless, one of us. There is already a loser coin fan website with the name “the head of chives.” Posters on the site repeatedly seek mutual assurances that fellow traders will buy and hold LOWB. They also share ridiculous posts about their experiences losing money in the bull market. Rich taste is the worst taste One post titled “How to know if you’re a loser” listed seven criteria to qualify as a loser, including “loving cheap or free items such as LOWB,” and, “Always feel like you are not fitting in; you always lose money when everyone else is making money.” “Most retail investors don’t understand the technology” of the projects behind the tokens, said Jeff Zhang, co-founder of a China-based crypto investment firm BlockArk. “There has been a sense of fatigue and antipathy among them after investing in way too many crypto projects.” On loser coin’s official Telegram group, there were nearly 2,000 active members around midnight in China on Tuesday half-jokingly and half-seriously discussing how they can become instantly rich. “Time for late night snacks,” one user said in the Telegram group, with a picture of an often costly Chinese dish known as “ Buddha jumps over the wall, ” made with shark fin, quail eggs, sea cucumber and pork tendons. (Chives aren’t a key ingredient, for what it’s worth.) “It looks very ‘winner,’” one user followed up. “You do not look ‘low’ at all,” a second user commented. The derision was palpable. Annabelle Huang, a partner at Hong Kong-based crypto finance service provider Amber Group, compared the popularity of loser coin to the recent affection in China for the shiba inu token , which bills itself as a “dogecoin killer.” The GameStop mania is another easy comparison, she said. “Bitcoin is seen more as the establishment and institutional play,” Huang said. “So people are turning to tokens that are more grassroots.” They just have to be ready to lose. Related Stories Bitcoin News Roundup for May 11, 2021 Elon Musk Runs Twitter Poll on Whether Tesla Should Accept Dogecoin || 3 Strong Dividend Stocks to Buy for Market Volatility and Inflation Fears: The Nasdaq tumbled 2.6% Monday and was down big early Tuesday, before it recouped most of its decline, as Wall Street sold technology stocks amid renewed inflation worries.
The Nasdaq has slipped below its 50-day moving average and is down 5% from its recent highs. Plus, the Dow posted its biggest one-day decline since late February on Tuesday, while the S&P 500 slipped 0.87%.
The cost of goods continues to climb across a range of areas, with consumer prices up 2.6% in the year ended in March, for the biggest 12-month increase since August 2018. The Fed and some on Wall Street point out that these elevated prices are compared against the early shock of the coronavirus and are made worse by supply chain setbacks amid the economic reopening.
The pent-up demand, mixed with government checks has amplified the situation. Yet the Fed remains steadfast that inflation will be “transitory” and retreat later this year.
Last Friday’s far worse-than-projected jobs report might boost the Fed’s case to continue its easy-money policies. The Fed also committed last summer to a new “average inflation targeting,” which means the central bank will allow inflation to run above its 2% target for some period of time.
All that said, the Dow and the S&P sit just below their records and the Nasdaq is up around 50% in the past year. Therefore, Wall Street is going to continue to take opportunities to pull profits when it can.
Think how quickly the Nasdaq fell into a correction from its mid-February records, only to climb to new highs in late April. Given this backdrop, investors likely want to remain exposed to the market.
Let’s dive into three strong dividend-paying stocks that could be solid near-term plays, as well as long-term holds…
AbbVie ABBV
The pharmaceutical power topped our Q1 estimates on April 30 and raised its 2021 guidance, on the back of strong performances across its core therapeutic areas. The growth showcased its expanded portfolio and ability to adapt as its patent protections run out for one of the world’s top-selling drugs, Humira—biosimilars are already available outside of the U.S., with domestic competition set to start in 2023. AbbVie prepared for the future through its $63 billion purchase of Allergan last May.
The deal brought Botox and other popular drugs into a diversified medicine cabinet that includes immunology, oncology, neuroscience, a strong R&D pipeline, and more. “Our new products are delivering impressive performance and we are on the cusp of potential commercial approvals for more than a dozen new products or indications over the next two years–including five expected approvals in 2021,” CEO Richard Gonzalez said in prepared remarks.
ABBV’s FY20 revenue surged 38%, driven by its Allergan deal, with its Q1 revenue up 51% and adjusted earnings 21% higher. Zacks estimates call for its FY21 revenue to jump another 22%, with FY22 projected to climb 7% higher to $60 billion. On the bottom-line, its adjusted earnings are projected to pop 19% and 11%, respectively over this stretch. Zacks longer-term consensus earnings moved higher following its first quarter release, but a slight downward revision to Q2 helps AbbVie grab a Zacks Rank #3 (Hold).
In keeping with the topic, AbbVie has increased its dividend by 225% since its inception in 2013. Its current $1.30 a share quarterly dividend yields 4.47% to crush its industry’s 2.46% average and the recently-rising 30-year U.S. Treasury’s 2.28%. ABBV’s yield is even better since the stock has climbed 37% in the past year to blow away its Large Cap Pharma space’s 13% climb. This outperformance stretches over the last five years, up 130% vs. 71%.
The stock has jumped 11% in the past three months to top the S&P 500 and its industry. AbbVie popped to 52-week records Monday, before it slipped Tuesday after it stopped right below overbought RSI territory of 70—currently sits at 62. On the valuation front, ABBV trades at a deep discount to its industry at 8.9X forward 12-month earnings vs. 14.3X, and its own year-long highs.
AbbVie’s valuation and dividend grabbed Warren Buffett and Berkshire Hathaway’s attention last year. And 11 of the 15 brokerage recommendations Zacks has for the stock are “Strong Buys,” with nothing below a “Hold.”
PepsiCo PEP)
PepsiCo is more diversified than its main rival Coca-Cola KO, with offerings beyond beverages. PEP’s portfolio includes its namesake brand, Gatorade, Frito-Lay, Quaker, Tropicana, and SodaStream. The company is also working to innovate and adapt to changing consumer habits.
PEP landed a partnership with Beyond Meat BYND in January that creates “a joint venture to develop, produce and market innovative snack and beverage products made from plant-based protein.” The deal helps PepsiCo better position itself to enter a fast-growing market. And the space could be a real game-changer if consumers buy into Beyond Meat’s broader sustainability pitch.
PepsiCo’s array of products helped its 2020 revenue jump 5% to come in at $70.4 billion. This topped FY19’s 4% sales expansion and marked its strongest top line expansion since 2011, as consumers gravitated to its offerings during the pandemic that saw retailers like Target TGT and Walmart WMT thrive.
PEP topped our Q1 estimates on April 15, with sales up 7% and adjusted earnings up 13%. Zacks estimates call for PEP’s fiscal 2021 revenue to climb 7% higher to $75.2 billion, with FY22 set to jump another 4.6%. Meanwhile, the company’s adjusted EPS figures are projected to climb by 10% this year and another 8% next year.
The consumer packaged goods giant’s $1.075 a share quarterly dividend is up 5% against the year-ago period. PepsiCo’s 2.79% yield comes in not too far below KO’s 3.1% even though PEP stock has easily outpaced KO in the past three years, up 63% vs. 42%. PEP’s outperformance stretches back over the past five years as well. PepsiCo’s yield also blows by the 10-year U.S. Treasury’s 1.62% and the S&P 500’s 1.34%.
PEP shares have popped 10% in the last three months and they sit about 2% below their records at the moment. Despite the positivity, the stock it below overbought RSI levels (70) at 57. On top of that, PepsiCo has consistently traded at a discount to KO in terms of forward earnings—23.6X vs. 24.6X. PepsiCo currently lands a Zacks Rank #3 (Hold) and 8 of the 15 brokerage recommendations Zacks has are “Strong Buys,” with only one “Sell.”
NextEra Energy Partners, LP NEP
NextEra Energy Partners is a growth-focused limited partnership formed by energy giant NextEra Energy NEE, which itself offers a 2.06% dividend yield. NEP acquires, manages, and owns contracted clean energy projects with stable, long-term cash flows. The Florida-based firm owns interests in wind and solar projects in the U.S. and also has a foothold in the natural gas market.
All three areas will remain vital as the U.S. moves away from coal. For instance, the U.S. Energy Information Administration reported that renewables accounted for roughly 20% of electricity generation in the U.S. last year, while natural gas leads the way at 40%. The EIA projects renewables will account for roughly 40% by 2050, with most of that expansion coming from wind and solar, while natural gas is expected to hold steady.
NEP topped our Q1 estimates on April 21, with revenue up 16%. This beat fiscal 2020’s 7% sales growth and FY19’s 11%. Zacks estimates call for NEP’s FY21 revenue to jump 50% to $1.37 billion, with FY22 expected to come in 13% higher. Meanwhile, it’s projected to swing from an adjusted loss of -$0.81 a share last year to +$3.64 in 2021. And the company’s strong post-release EPS revisions help it land a Zacks Rank #2 (Buy) at the moment, alongside its “A” grade for Momentum.
NEP shares were riding high until they began to sell off in February, alongside other growth names, after they climbed from roughly $45 a share in March 2020 to over $80 by early 2021. NEP dipped another 2.3% during regular trading Tuesday to $65.68 a share, which put it about 22% below its records.
The downturn has pushed it below oversold RSI levels (30) at 27.5. This could give it room to climb, especially for investors with long-term outlooks. That said, the stock has fallen below its 200-day moving average, which means some might want to wait for signs of a comeback before considering the stock that’s climbed 175% in the past five years to double the Alternative Energy industry and top the S&P 500’s 137%.
The pullback has helped recalibrate NEP’s valuation, with it trading 50% below its own year-long median at 20.5X forward 12-month earnings, which represents a discount to the benchmark index’s 22.3X. The recent downturn has also helped lift its already-strong dividend yield to 3.79%.
The company also constantly raises its quarterly payout, with its current dividend up 240% since its early days as a public company in 2014. NEP’s 3.79% yield tops the 10-year U.S. Treasury’s 1.62%. And six of the nine brokerage ratings Zacks has for NextEra Energy Partners are “Strong Buys” or “Buys,” with only one “Sell.”
Bitcoin, Like the Internet Itself, Could Change EverythingBlockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities.Zacks’ has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly.See 3 crypto-related stocks now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportTarget Corporation (TGT) : Free Stock Analysis ReportWalmart Inc. (WMT) : Free Stock Analysis ReportNextEra Energy, Inc. (NEE) : Free Stock Analysis ReportCocaCola Company The (KO) : Free Stock Analysis ReportPepsiCo, Inc. (PEP) : Free Stock Analysis ReportAbbVie Inc. (ABBV) : Free Stock Analysis ReportNextEra Energy Partners, LP (NEP) : Free Stock Analysis ReportBeyond Meat, Inc. (BYND) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research || 3 Strong Dividend Stocks to Buy for Market Volatility and Inflation Fears: The Nasdaq tumbled 2.6% Monday and was down big early Tuesday, before it recouped most of its decline, as Wall Street sold technology stocks amid renewed inflation worries. The Nasdaq has slipped below its 50-day moving average and is down 5% from its recent highs. Plus, the Dow posted its biggest one-day decline since late February on Tuesday, while the S&P 500 slipped 0.87%. The cost of goods continues to climb across a range of areas, with consumer prices up 2.6% in the year ended in March, for the biggest 12-month increase since August 2018. The Fed and some on Wall Street point out that these elevated prices are compared against the early shock of the coronavirus and are made worse by supply chain setbacks amid the economic reopening. The pent-up demand, mixed with government checks has amplified the situation. Yet the Fed remains steadfast that inflation will be “transitory” and retreat later this year. Last Friday’s far worse-than-projected jobs report might boost the Fed’s case to continue its easy-money policies. The Fed also committed last summer to a new “average inflation targeting,” which means the central bank will allow inflation to run above its 2% target for some period of time. All that said, the Dow and the S&P sit just below their records and the Nasdaq is up around 50% in the past year. Therefore, Wall Street is going to continue to take opportunities to pull profits when it can. Think how quickly the Nasdaq fell into a correction from its mid-February records, only to climb to new highs in late April. Given this backdrop, investors likely want to remain exposed to the market. Let’s dive into three strong dividend-paying stocks that could be solid near-term plays, as well as long-term holds… AbbVie ABBV The pharmaceutical power topped our Q1 estimates on April 30 and raised its 2021 guidance, on the back of strong performances across its core therapeutic areas. The growth showcased its expanded portfolio and ability to adapt as its patent protections run out for one of the world’s top-selling drugs, Humira—biosimilars are already available outside of the U.S., with domestic competition set to start in 2023. AbbVie prepared for the future through its $63 billion purchase of Allergan last May. Story continues The deal brought Botox and other popular drugs into a diversified medicine cabinet that includes immunology, oncology, neuroscience, a strong R&D pipeline, and more. “Our new products are delivering impressive performance and we are on the cusp of potential commercial approvals for more than a dozen new products or indications over the next two years–including five expected approvals in 2021,” CEO Richard Gonzalez said in prepared remarks. ABBV’s FY20 revenue surged 38%, driven by its Allergan deal, with its Q1 revenue up 51% and adjusted earnings 21% higher. Zacks estimates call for its FY21 revenue to jump another 22%, with FY22 projected to climb 7% higher to $60 billion. On the bottom-line, its adjusted earnings are projected to pop 19% and 11%, respectively over this stretch. Zacks longer-term consensus earnings moved higher following its first quarter release, but a slight downward revision to Q2 helps AbbVie grab a Zacks Rank #3 (Hold). In keeping with the topic, AbbVie has increased its dividend by 225% since its inception in 2013. Its current $1.30 a share quarterly dividend yields 4.47% to crush its industry’s 2.46% average and the recently-rising 30-year U.S. Treasury’s 2.28%. ABBV’s yield is even better since the stock has climbed 37% in the past year to blow away its Large Cap Pharma space’s 13% climb. This outperformance stretches over the last five years, up 130% vs. 71%. The stock has jumped 11% in the past three months to top the S&P 500 and its industry. AbbVie popped to 52-week records Monday, before it slipped Tuesday after it stopped right below overbought RSI territory of 70—currently sits at 62. On the valuation front, ABBV trades at a deep discount to its industry at 8.9X forward 12-month earnings vs. 14.3X, and its own year-long highs. AbbVie’s valuation and dividend grabbed Warren Buffett and Berkshire Hathaway’s attention last year. And 11 of the 15 brokerage recommendations Zacks has for the stock are “Strong Buys,” with nothing below a “Hold.” PepsiCo PEP ) PepsiCo is more diversified than its main rival Coca-Cola KO, with offerings beyond beverages. PEP’s portfolio includes its namesake brand, Gatorade, Frito-Lay, Quaker, Tropicana, and SodaStream. The company is also working to innovate and adapt to changing consumer habits. PEP landed a partnership with Beyond Meat BYND in January that creates “a joint venture to develop, produce and market innovative snack and beverage products made from plant-based protein.” The deal helps PepsiCo better position itself to enter a fast-growing market. And the space could be a real game-changer if consumers buy into Beyond Meat’s broader sustainability pitch. PepsiCo’s array of products helped its 2020 revenue jump 5% to come in at $70.4 billion. This topped FY19’s 4% sales expansion and marked its strongest top line expansion since 2011, as consumers gravitated to its offerings during the pandemic that saw retailers like Target TGT and Walmart WMT thrive. PEP topped our Q1 estimates on April 15, with sales up 7% and adjusted earnings up 13%. Zacks estimates call for PEP’s fiscal 2021 revenue to climb 7% higher to $75.2 billion, with FY22 set to jump another 4.6%. Meanwhile, the company’s adjusted EPS figures are projected to climb by 10% this year and another 8% next year. The consumer packaged goods giant’s $1.075 a share quarterly dividend is up 5% against the year-ago period. PepsiCo’s 2.79% yield comes in not too far below KO’s 3.1% even though PEP stock has easily outpaced KO in the past three years, up 63% vs. 42%. PEP’s outperformance stretches back over the past five years as well. PepsiCo’s yield also blows by the 10-year U.S. Treasury’s 1.62% and the S&P 500’s 1.34%. PEP shares have popped 10% in the last three months and they sit about 2% below their records at the moment. Despite the positivity, the stock it below overbought RSI levels (70) at 57. On top of that, PepsiCo has consistently traded at a discount to KO in terms of forward earnings—23.6X vs. 24.6X. PepsiCo currently lands a Zacks Rank #3 (Hold) and 8 of the 15 brokerage recommendations Zacks has are “Strong Buys,” with only one “Sell.” NextEra Energy Partners, LP NEP NextEra Energy Partners is a growth-focused limited partnership formed by energy giant NextEra Energy NEE, which itself offers a 2.06% dividend yield. NEP acquires, manages, and owns contracted clean energy projects with stable, long-term cash flows. The Florida-based firm owns interests in wind and solar projects in the U.S. and also has a foothold in the natural gas market. All three areas will remain vital as the U.S. moves away from coal. For instance, the U.S. Energy Information Administration reported that renewables accounted for roughly 20% of electricity generation in the U.S. last year, while natural gas leads the way at 40%. The EIA projects renewables will account for roughly 40% by 2050, with most of that expansion coming from wind and solar, while natural gas is expected to hold steady. NEP topped our Q1 estimates on April 21, with revenue up 16%. This beat fiscal 2020’s 7% sales growth and FY19’s 11%. Zacks estimates call for NEP’s FY21 revenue to jump 50% to $1.37 billion, with FY22 expected to come in 13% higher. Meanwhile, it’s projected to swing from an adjusted loss of -$0.81 a share last year to +$3.64 in 2021. And the company’s strong post-release EPS revisions help it land a Zacks Rank #2 (Buy) at the moment, alongside its “A” grade for Momentum. NEP shares were riding high until they began to sell off in February, alongside other growth names, after they climbed from roughly $45 a share in March 2020 to over $80 by early 2021. NEP dipped another 2.3% during regular trading Tuesday to $65.68 a share, which put it about 22% below its records. The downturn has pushed it below oversold RSI levels (30) at 27.5. This could give it room to climb, especially for investors with long-term outlooks. That said, the stock has fallen below its 200-day moving average, which means some might want to wait for signs of a comeback before considering the stock that’s climbed 175% in the past five years to double the Alternative Energy industry and top the S&P 500’s 137%. The pullback has helped recalibrate NEP’s valuation, with it trading 50% below its own year-long median at 20.5X forward 12-month earnings, which represents a discount to the benchmark index’s 22.3X. The recent downturn has also helped lift its already-strong dividend yield to 3.79%. The company also constantly raises its quarterly payout, with its current dividend up 240% since its early days as a public company in 2014. NEP’s 3.79% yield tops the 10-year U.S. Treasury’s 1.62%. And six of the nine brokerage ratings Zacks has for NextEra Energy Partners are “Strong Buys” or “Buys,” with only one “Sell.” Bitcoin, Like the Internet Itself, Could Change Everything Blockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities. Zacks’ has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly. See 3 crypto-related stocks now >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Target Corporation (TGT) : Free Stock Analysis Report Walmart Inc. (WMT) : Free Stock Analysis Report NextEra Energy, Inc. (NEE) : Free Stock Analysis Report CocaCola Company The (KO) : Free Stock Analysis Report PepsiCo, Inc. (PEP) : Free Stock Analysis Report AbbVie Inc. (ABBV) : Free Stock Analysis Report NextEra Energy Partners, LP (NEP) : Free Stock Analysis Report Beyond Meat, Inc. (BYND) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research || Palantir Rallies on Sales Forecast, Embrace of Bitcoin: (Bloomberg) -- Palantir Technologies Inc. expects sales to grow 43% in the second quarter, showing new distribution deals are putting its data analysis software into the hands of more customers.
Revenue will reach $360 million in the period ending in June, the company said in a statement Tuesday. Shares gained 9.4% to close at $20.21 in New York.
With more cash flowing in, the Denver-based company said it’s embracing a newer form of currency: Bitcoin. Palantir accepts customer payments in Bitcoin and is debating whether to use company cash to purchase the asset, Chief Financial Officer David Glazer said on a conference call with analysts. Such a move would follow similar ones by Square Inc. and Tesla Inc., which helped drive a surge in Bitcoin prices.
The results provided some signs of encouragement after a prolonged slump for the company. At the close of trading Monday, the shares had reached their lowest point in almost six months, reflecting a sharp turn away from technology stocks by investors worldwide over concerns about inflation.
Co-founders Peter Thiel and Alex Karp started Palantir with a focus on providing tools and consulting to the U.S. and allied governments. Palantir has overhauled its software in recent years to court more businesses and lower prices for customers.
The company has placed a great deal of emphasis on growth, which shows in the results. In the first quarter, revenue increased 49% to $341 million, beating estimates.
However, Palantir said compensation costs ballooned, contributing to a loss in the first quarter that was wider than expected. The loss was 7 cents a share as stock-based compensation more than tripled in the period that ended in March.
Palantir said it signed 11 new commercial customers during the quarter and invested in two customers with long term potential: Sarcos Robotics and aviation startup Lilium. Chief Operating Officer Shyam Sankar said both companies built operations around Palantir’s Foundry software “from day zero.” “Manufacturing is a huge focus for us and one of deep strength,” he said.
New customers, including Pacific Gas and Electric Co. and the U.S. National Nuclear Security Administration, drove first-quarter sales, along with expanded agreements with existing customers such as 3M Co., BP Plc and the mining company Rio Tinto Plc.
Palantir expanded its small sales team during the previous quarter, bringing on 50 sales people, and struck partnerships with International Business Machines Corp. and Fujitsu Ltd. to re-sell its technology and with Amazon.com Inc.’s Web Services to support it.
The company maintained an earlier forecast for annual revenue growth of 30% or more through 2025. Palantir reported U.S. government revenue grew 83% in the first quarter, while sales from U.S. businesses increased 72%. It didn’t disclose the global breakdown of the two business divisions.
(Updates with executive comments starting in the third paragraph.)
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©2021 Bloomberg L.P. || Palantir Rallies on Sales Forecast, Embrace of Bitcoin: (Bloomberg) -- Palantir Technologies Inc. expects sales to grow 43% in the second quarter, showing new distribution deals are putting its data analysis software into the hands of more customers.
Revenue will reach $360 million in the period ending in June, the company said in a statement Tuesday. Shares gained 9.4% to close at $20.21 in New York.
With more cash flowing in, the Denver-based company said it’s embracing a newer form of currency: Bitcoin. Palantir accepts customer payments in Bitcoin and is debating whether to use company cash to purchase the asset, Chief Financial Officer David Glazer said on a conference call with analysts. Such a move would follow similar ones by Square Inc. and Tesla Inc., which helped drive a surge in Bitcoin prices.
The results provided some signs of encouragement after a prolonged slump for the company. At the close of trading Monday, the shares had reached their lowest point in almost six months, reflecting a sharp turn away from technology stocks by investors worldwide over concerns about inflation.
Co-founders Peter Thiel and Alex Karp started Palantir with a focus on providing tools and consulting to the U.S. and allied governments. Palantir has overhauled its software in recent years to court more businesses and lower prices for customers.
The company has placed a great deal of emphasis on growth, which shows in the results. In the first quarter, revenue increased 49% to $341 million, beating estimates.
However, Palantir said compensation costs ballooned, contributing to a loss in the first quarter that was wider than expected. The loss was 7 cents a share as stock-based compensation more than tripled in the period that ended in March.
Palantir said it signed 11 new commercial customers during the quarter and invested in two customers with long term potential: Sarcos Robotics and aviation startup Lilium. Chief Operating Officer Shyam Sankar said both companies built operations around Palantir’s Foundry software “from day zero.” “Manufacturing is a huge focus for us and one of deep strength,” he said.
New customers, including Pacific Gas and Electric Co. and the U.S. National Nuclear Security Administration, drove first-quarter sales, along with expanded agreements with existing customers such as 3M Co., BP Plc and the mining company Rio Tinto Plc.
Palantir expanded its small sales team during the previous quarter, bringing on 50 sales people, and struck partnerships with International Business Machines Corp. and Fujitsu Ltd. to re-sell its technology and with Amazon.com Inc.’s Web Services to support it.
The company maintained an earlier forecast for annual revenue growth of 30% or more through 2025. Palantir reported U.S. government revenue grew 83% in the first quarter, while sales from U.S. businesses increased 72%. It didn’t disclose the global breakdown of the two business divisions.
(Updates with executive comments starting in the third paragraph.)
For more articles like this, please visit us atbloomberg.com
Subscribe nowto stay ahead with the most trusted business news source.
©2021 Bloomberg L.P. || Palantir Rallies on Sales Forecast, Embrace of Bitcoin: (Bloomberg) -- Palantir Technologies Inc. expects sales to grow 43% in the second quarter, showing new distribution deals are putting its data analysis software into the hands of more customers. Revenue will reach $360 million in the period ending in June, the company said in a statement Tuesday. Shares gained 9.4% to close at $20.21 in New York. With more cash flowing in, the Denver-based company said it’s embracing a newer form of currency: Bitcoin. Palantir accepts customer payments in Bitcoin and is debating whether to use company cash to purchase the asset, Chief Financial Officer David Glazer said on a conference call with analysts. Such a move would follow similar ones by Square Inc. and Tesla Inc., which helped drive a surge in Bitcoin prices. The results provided some signs of encouragement after a prolonged slump for the company. At the close of trading Monday, the shares had reached their lowest point in almost six months, reflecting a sharp turn away from technology stocks by investors worldwide over concerns about inflation. Co-founders Peter Thiel and Alex Karp started Palantir with a focus on providing tools and consulting to the U.S. and allied governments. Palantir has overhauled its software in recent years to court more businesses and lower prices for customers. The company has placed a great deal of emphasis on growth, which shows in the results. In the first quarter, revenue increased 49% to $341 million, beating estimates. However, Palantir said compensation costs ballooned, contributing to a loss in the first quarter that was wider than expected. The loss was 7 cents a share as stock-based compensation more than tripled in the period that ended in March. Palantir said it signed 11 new commercial customers during the quarter and invested in two customers with long term potential: Sarcos Robotics and aviation startup Lilium. Chief Operating Officer Shyam Sankar said both companies built operations around Palantir’s Foundry software “from day zero.” “Manufacturing is a huge focus for us and one of deep strength,” he said. Story continues New customers, including Pacific Gas and Electric Co. and the U.S. National Nuclear Security Administration, drove first-quarter sales, along with expanded agreements with existing customers such as 3M Co., BP Plc and the mining company Rio Tinto Plc. Palantir expanded its small sales team during the previous quarter, bringing on 50 sales people, and struck partnerships with International Business Machines Corp. and Fujitsu Ltd. to re-sell its technology and with Amazon.com Inc.’s Web Services to support it. The company maintained an earlier forecast for annual revenue growth of 30% or more through 2025. Palantir reported U.S. government revenue grew 83% in the first quarter, while sales from U.S. businesses increased 72%. It didn’t disclose the global breakdown of the two business divisions. (Updates with executive comments starting in the third paragraph.) For more articles like this, please visit us at bloomberg.com Subscribe now to stay ahead with the most trusted business news source. ©2021 Bloomberg L.P. || Top 10 Financial Stocks Today: In this article, we will take a look at the top 10 financial stocks today. You can skip our comprehensive analysis of these companies and go directly to the Top 5 Financial Stocks Today . The financial services sector of the economy has seen massive changes in the past few years as technology-led disruption acts as both a creative and destructive force within the industry. The global finance market is expected to grow from $20 trillion in 2020 to $22 trillion in 2021 at a compound annual growth rate of close to 10%. Some of the catalysts for this growth are fintech firms, blockchain-based currencies, and the rise of the sharing economy. However, these change-makers are also fueling the demise of traditional finance institutions. According to research by London-based professional services firm PwC, 63% of insurance executives believe that the Internet of Things universe (IoT) will soon become strategically important to their business. There is also a growing unease within the banking industry that risks losing close to a quarter of business dealings to fintech firms within the next five years. The dramatic rise of blockchain over the past few years has also left industry experts baffled and most financial services firms are still not fully prepared to integrate it into the economy. For example, Berkshire Hathaway Inc. (NYSE: BRK-A ), one of the largest holding companies in the world, has repeatedly dismissed calls for investment in blockchain stocks. At a meeting held recently, Charlie Munger, a senior figure at Berkshire Hathaway Inc. (NYSE: BRK-A), told shareholders that cryptocurrencies were disgusting and an affront to civilization. However, his firm has continued to register impressive returns despite not jumping on the bandwagon that has minted several millionaires and billionaires over the last few years. BRK-A is among the top financial stocks today. It also seems that larger changes are afoot in the finance world where retail investors are increasingly more important to the overall market dynamics with the rise of trading apps like Robinhood. The recent initial public offering of Coinbase Global, Inc. (NASDAQ: COIN ) is a case in point. Despite muted interest from big finance institutions, Coinbase Global, Inc. (NASDAQ: COIN) was valued at over $86 billion on the first day of trading. Although the share price has fallen since, the firm still has a lot of room to run because of a strong business model. Story continues Another interesting stock to watch to observe the changes in the finance industry is Visa Inc. (NYSE: V ), a firm that facilitates electronic money transfers. Visa Inc. (NYSE: V) has registered impressive numbers during the pandemic, and on March 29 announced that it would allow the use of cryptocurrencies to settle transactions on its payments network. Bitcoin, the most popular cryptocurrency, soared as much as 5% after the announcement. The endorsement from Visa Inc. (NYSE: V) is a big step for crypto as it fights for recognition in mainstream financial services. Major banks like Bank of America Corporation (NYSE: BAC) are also moving towards accepting crypto as a valid asset class. Other parts of the finance world also have some catching up to do. The entire hedge fund industry is feeling the reverberations of the changing financial landscape. Its reputation has been tarnished in the last decade, during which its hedged returns couldn’t keep up with the unhedged returns of the market indices. On the other hand, Insider Monkey’s research was able to identify in advance a select group of hedge fund holdings that outperformed the S&P 500 ETFs by more than 124 percentage points since March 2017. Between March 2017 and February 26th 2021 our monthly newsletter’s stock picks returned 197.2%, vs. 72.4% for the SPY. Our stock picks outperformed the market by more than 124 percentage points (see the details here). We were also able to identify in advance a select group of hedge fund holdings that significantly underperformed the market. We have been tracking and sharing the list of these stocks since February 2017 and they lost 13% through November 16th. That’s why we believe hedge fund sentiment is an extremely useful indicator that investors should pay attention to. You can subscribe to our free newsletter on our homepage to receive our stories in your inbox. Covalis Capital's Returns, AUM and Holdings Rawpixel.com/Shutterstock.com With this context in mind, here is our list of the top 10 financial stocks today. Top Financial Stocks Today 10. Square, Inc. ( NYSE: SQ ) Number of Hedge Fund Holders: 89 Square, Inc. (NYSE: SQ) is a California-based digital payments firm founded in 2009. It is placed tenth on our list of top 10 financial stocks today. Square, Inc. (NYSE: SQ) has pioneered digital payments for the best part of the last decade and the COVID-19 pandemic has helped the company reach new highs. Square stock has offered investors returns exceeding 191% in the past twelve months as digital payments increase dramatically due to the coronavirus lockdowns. Some of the products the firm markets include bank card readers and point of sale devices. Square is one of the top financial stocks today as the company is disrupting the financial markets with innovative technology and has a lot of room to run. On May 6, Square, Inc. (NYSE: SQ) posted earnings results for the first quarter of 2021, reporting a revenue of more than $5 billion, a 266% year-on-year increase, beating market predictions by $1.7 billion. The earnings per share were $0.41. At the end of the fourth quarter of 2020, 89 hedge funds in the database of Insider Monkey held stakes worth $8.8 billion in the firm, up from 73 the preceding quarter worth $6.5 billion. In its Q1 2021 investor letter, RiverPark Funds , an investment management firm, highlighted a few stocks and Square, Inc. (NYSE: SQ ) was one of them. “We established a position in leading Financial Technology provider Square during the quarter. Through one integrated system, SQ is a hybrid of two businesses: its Seller Business (charging small and medium-sized businesses about 3% for transaction payment processing, plus other services such as instant funds access, and software for everything from customer engagement to payroll), and its Cash App (originally for person-to-person cash transfers and now a growing digital financial services provider for consumers). The combined business has grown gross profit at a 37% CAGR over the past five years to $2.7 billion (due to pass through costs, gross profit is more reflective of top-line growth) and we believe that the company has an enormous long-term runway, as it has less than a 2% share of a more than $160 billion market. It is our view that the company’s Cash App (which has grown from nothing in 2015 to $1.2 billion gross profit last year) has a particularly large opportunity with its powerful ecosystem of digital financial services including digital wallets, direct deposits, stock trading, bitcoin trading, and business and tax services, which are all relatively new. The vast majority of Cash App’s more than 36 million users are younger and, importantly, are willing to replace their bank and other financial services accounts with the app. We estimate that the company can grow its gross profit more than 30% and EBITDA more than 50% annually for the foreseeable future, and while most of the company’s current profit is from its Seller Business, we believe most of Square’s future value will be from its Cash App business.” 9. The Goldman Sachs Group, Inc. ( NYSE: GS ) Number of Hedge Fund Holders: 76 The Goldman Sachs Group, Inc. (NYSE: GS) is a New York-based financial services company. It was founded in 1869 and is placed ninth on our list of top 10 financial stocks today. Some of the services offered by the group include investment management, securities, asset management, prime brokerage, and securities underwriting. The Goldman Sachs Group, Inc. (NYSE: GS) stock has returned more than 100% to investors in the past twelve months. The group employs more than 40,000 people and has a market cap of over $130 billion. On May 7, American news media reported that The Goldman Sachs Group, Inc. (NYSE: GS) had set up a cryptocurrency trading desk and started dealing in two crypto derivatives. The desk is part of the emerging markets division of the firm. Out of the hedge funds being tracked by Insider Monkey, New York-based investment firm Eagle Capital Management is a leading shareholder in The Goldman Sachs Group, Inc. (NYSE: GS) with 5.2 million shares worth more than $1.3 billion. 8. Morgan Stanley ( NYSE: MS ) Number of Hedge Fund Holders: 66 Morgan Stanley (NYSE: MS) is a New York-based investment bank founded in 1931. It is placed eighth on our list of top 10 financial stocks today. Morgan Stanley stock has returned more than 121% to investors in the past year. The bank has operations in the Americas, Europe, the Middle East, and Africa. Some of the financial services the bank offers include institutional securities, wealth management, and investment management. The bank has more than 71,000 employees and a market cap of over $163 billion. Morgan Stanley (NYSE: MS) is one of the best options on the market when it comes to dividends. On April 16, the bank declared a quarterly dividend of $0.35 per share, in line with previous. It has recently also announced dealings in cryptocurrencies. Like Bank of America Corporation (NYSE: BAC), MS is one of the best financial stocks to buy now. At the end of the fourth quarter of 2020, 66 hedge funds in the database of Insider Monkey held stakes worth $5.6 billion in the firm, down from 70 in the preceding quarter worth $4.1 billion. In its Q4 2020 investor letter, Artisan Partners Limited Partnership , a high value-added investment management firm, highlighted a few stocks and Morgan Stanley (NYSE: MS ) was one of them. “Top three contributor Morgan Stanley (NYSE: MS) , a leading global financial services company, came into the portfolio in Q4 as a result of its purchase of E*TRADE. E*TRADE is a great fit on Morgan Stanley’s wealth management platform and provides a considerable amount of non-interest-bearing deposit funding. James Gorman, chairman and CEO, has steadily de-risked Morgan Stanley’s business by adding less volatile fee streams and deemphasizing the risk-obtuse culture of prior management. We believe the market will come to appreciate this mix shift over time.” 7. China Life Insurance Company Limited ( NYSE: LFC ) Number of Hedge Fund Holders: 5 China Life Insurance Company Limited (NYSE: LFC) is a Beijing-based insurance company founded in 1949. It is ranked seventh on our list of top 10 financial stocks today. It is one of the largest insurance firms in the world with a market cap of over $119 billion. The firm offers life, health, accidental, and business insurance policies. China Life Insurance Company Limited (NYSE: LFC) also markets investment management services. Like Bank of America Corporation (NYSE: BAC), Coinbase Global, Inc. (NASDAQ: COIN) and Berkshire Hathaway Inc. (NYSE: BRK-A), LFC is one of the best financial stocks to buy now. China Life Insurance Company Limited (NYSE: LFC) posted fiscal year earnings on March 25, reporting a net income of RMB50 billion and a revenue of RMB804 billion. The revenue number was a more than 10% increase compared to the revenue in the previous fiscal year. Out of the hedge funds being tracked by Insider Monkey, New York-based investment firm Renaissance Technologies is a leading shareholder in the firm with 871,006 shares worth more than $9.6 million. 6. Bank of America Corporation ( NYSE: BAC ) Number of Hedge Fund Holders: 99 Bank of America Corporation (NYSE: BAC) is a North Carolina-based investment bank and financial services firm. It was founded in 1784 and is placed sixth on our list of top 10 financial stocks today. Bank of America Corporation (NYSE: BAC) offers consumer banking, wealth management, and market research services. It serves more than 66 million clients and has more than 4,300 branches spread across the United States. Bank of America Corporation (NYSE: BAC) stock has returned more than 90% to investors over the past twelve months. On May 4, investment advisory Baird downgraded Bank of America Corporation (NYSE: BAC) stock to Neutral from Buy citing positive outlook for the firm already baked into the current valuations. The share price of the bank’s stock slipped close to 0.6% after the update. Still, Bank of America Corporation (NYSE: BAC) is one of the top financial stocks today. At the end of the fourth quarter of 2020, 99 hedge funds in the database of Insider Monkey held stakes worth $35 billion in the firm, up from 88 in the previous quarter worth $26 billion. Click to continue reading and see Top 5 Financial Stocks Today . Suggested articles: Top 10 High Growth Stocks To Buy in 2021 10 Best Rebound Stocks to Buy Now Top 10 Undervalued Tech Stocks Disclosure: None. Top 10 Financial Stocks Today is originally published on Insider Monkey. || Top 10 Financial Stocks Today: In this article, we will take a look at the top 10 financial stocks today. You can skip our comprehensive analysis of these companies and go directly to the Top 5 Financial Stocks Today . The financial services sector of the economy has seen massive changes in the past few years as technology-led disruption acts as both a creative and destructive force within the industry. The global finance market is expected to grow from $20 trillion in 2020 to $22 trillion in 2021 at a compound annual growth rate of close to 10%. Some of the catalysts for this growth are fintech firms, blockchain-based currencies, and the rise of the sharing economy. However, these change-makers are also fueling the demise of traditional finance institutions. According to research by London-based professional services firm PwC, 63% of insurance executives believe that the Internet of Things universe (IoT) will soon become strategically important to their business. There is also a growing unease within the banking industry that risks losing close to a quarter of business dealings to fintech firms within the next five years. The dramatic rise of blockchain over the past few years has also left industry experts baffled and most financial services firms are still not fully prepared to integrate it into the economy. For example, Berkshire Hathaway Inc. (NYSE: BRK-A ), one of the largest holding companies in the world, has repeatedly dismissed calls for investment in blockchain stocks. At a meeting held recently, Charlie Munger, a senior figure at Berkshire Hathaway Inc. (NYSE: BRK-A), told shareholders that cryptocurrencies were disgusting and an affront to civilization. However, his firm has continued to register impressive returns despite not jumping on the bandwagon that has minted several millionaires and billionaires over the last few years. BRK-A is among the top financial stocks today. It also seems that larger changes are afoot in the finance world where retail investors are increasingly more important to the overall market dynamics with the rise of trading apps like Robinhood. The recent initial public offering of Coinbase Global, Inc. (NASDAQ: COIN ) is a case in point. Despite muted interest from big finance institutions, Coinbase Global, Inc. (NASDAQ: COIN) was valued at over $86 billion on the first day of trading. Although the share price has fallen since, the firm still has a lot of room to run because of a strong business model. Story continues Another interesting stock to watch to observe the changes in the finance industry is Visa Inc. (NYSE: V ), a firm that facilitates electronic money transfers. Visa Inc. (NYSE: V) has registered impressive numbers during the pandemic, and on March 29 announced that it would allow the use of cryptocurrencies to settle transactions on its payments network. Bitcoin, the most popular cryptocurrency, soared as much as 5% after the announcement. The endorsement from Visa Inc. (NYSE: V) is a big step for crypto as it fights for recognition in mainstream financial services. Major banks like Bank of America Corporation (NYSE: BAC) are also moving towards accepting crypto as a valid asset class. Other parts of the finance world also have some catching up to do. The entire hedge fund industry is feeling the reverberations of the changing financial landscape. Its reputation has been tarnished in the last decade, during which its hedged returns couldn’t keep up with the unhedged returns of the market indices. On the other hand, Insider Monkey’s research was able to identify in advance a select group of hedge fund holdings that outperformed the S&P 500 ETFs by more than 124 percentage points since March 2017. Between March 2017 and February 26th 2021 our monthly newsletter’s stock picks returned 197.2%, vs. 72.4% for the SPY. Our stock picks outperformed the market by more than 124 percentage points (see the details here). We were also able to identify in advance a select group of hedge fund holdings that significantly underperformed the market. We have been tracking and sharing the list of these stocks since February 2017 and they lost 13% through November 16th. That’s why we believe hedge fund sentiment is an extremely useful indicator that investors should pay attention to. You can subscribe to our free newsletter on our homepage to receive our stories in your inbox. Covalis Capital's Returns, AUM and Holdings Rawpixel.com/Shutterstock.com With this context in mind, here is our list of the top 10 financial stocks today. Top Financial Stocks Today 10. Square, Inc. ( NYSE: SQ ) Number of Hedge Fund Holders: 89 Square, Inc. (NYSE: SQ) is a California-based digital payments firm founded in 2009. It is placed tenth on our list of top 10 financial stocks today. Square, Inc. (NYSE: SQ) has pioneered digital payments for the best part of the last decade and the COVID-19 pandemic has helped the company reach new highs. Square stock has offered investors returns exceeding 191% in the past twelve months as digital payments increase dramatically due to the coronavirus lockdowns. Some of the products the firm markets include bank card readers and point of sale devices. Square is one of the top financial stocks today as the company is disrupting the financial markets with innovative technology and has a lot of room to run. On May 6, Square, Inc. (NYSE: SQ) posted earnings results for the first quarter of 2021, reporting a revenue of more than $5 billion, a 266% year-on-year increase, beating market predictions by $1.7 billion. The earnings per share were $0.41. At the end of the fourth quarter of 2020, 89 hedge funds in the database of Insider Monkey held stakes worth $8.8 billion in the firm, up from 73 the preceding quarter worth $6.5 billion. In its Q1 2021 investor letter, RiverPark Funds , an investment management firm, highlighted a few stocks and Square, Inc. (NYSE: SQ ) was one of them. “We established a position in leading Financial Technology provider Square during the quarter. Through one integrated system, SQ is a hybrid of two businesses: its Seller Business (charging small and medium-sized businesses about 3% for transaction payment processing, plus other services such as instant funds access, and software for everything from customer engagement to payroll), and its Cash App (originally for person-to-person cash transfers and now a growing digital financial services provider for consumers). The combined business has grown gross profit at a 37% CAGR over the past five years to $2.7 billion (due to pass through costs, gross profit is more reflective of top-line growth) and we believe that the company has an enormous long-term runway, as it has less than a 2% share of a more than $160 billion market. It is our view that the company’s Cash App (which has grown from nothing in 2015 to $1.2 billion gross profit last year) has a particularly large opportunity with its powerful ecosystem of digital financial services including digital wallets, direct deposits, stock trading, bitcoin trading, and business and tax services, which are all relatively new. The vast majority of Cash App’s more than 36 million users are younger and, importantly, are willing to replace their bank and other financial services accounts with the app. We estimate that the company can grow its gross profit more than 30% and EBITDA more than 50% annually for the foreseeable future, and while most of the company’s current profit is from its Seller Business, we believe most of Square’s future value will be from its Cash App business.” 9. The Goldman Sachs Group, Inc. ( NYSE: GS ) Number of Hedge Fund Holders: 76 The Goldman Sachs Group, Inc. (NYSE: GS) is a New York-based financial services company. It was founded in 1869 and is placed ninth on our list of top 10 financial stocks today. Some of the services offered by the group include investment management, securities, asset management, prime brokerage, and securities underwriting. The Goldman Sachs Group, Inc. (NYSE: GS) stock has returned more than 100% to investors in the past twelve months. The group employs more than 40,000 people and has a market cap of over $130 billion. On May 7, American news media reported that The Goldman Sachs Group, Inc. (NYSE: GS) had set up a cryptocurrency trading desk and started dealing in two crypto derivatives. The desk is part of the emerging markets division of the firm. Out of the hedge funds being tracked by Insider Monkey, New York-based investment firm Eagle Capital Management is a leading shareholder in The Goldman Sachs Group, Inc. (NYSE: GS) with 5.2 million shares worth more than $1.3 billion. 8. Morgan Stanley ( NYSE: MS ) Number of Hedge Fund Holders: 66 Morgan Stanley (NYSE: MS) is a New York-based investment bank founded in 1931. It is placed eighth on our list of top 10 financial stocks today. Morgan Stanley stock has returned more than 121% to investors in the past year. The bank has operations in the Americas, Europe, the Middle East, and Africa. Some of the financial services the bank offers include institutional securities, wealth management, and investment management. The bank has more than 71,000 employees and a market cap of over $163 billion. Morgan Stanley (NYSE: MS) is one of the best options on the market when it comes to dividends. On April 16, the bank declared a quarterly dividend of $0.35 per share, in line with previous. It has recently also announced dealings in cryptocurrencies. Like Bank of America Corporation (NYSE: BAC), MS is one of the best financial stocks to buy now. At the end of the fourth quarter of 2020, 66 hedge funds in the database of Insider Monkey held stakes worth $5.6 billion in the firm, down from 70 in the preceding quarter worth $4.1 billion. In its Q4 2020 investor letter, Artisan Partners Limited Partnership , a high value-added investment management firm, highlighted a few stocks and Morgan Stanley (NYSE: MS ) was one of them. “Top three contributor Morgan Stanley (NYSE: MS) , a leading global financial services company, came into the portfolio in Q4 as a result of its purchase of E*TRADE. E*TRADE is a great fit on Morgan Stanley’s wealth management platform and provides a considerable amount of non-interest-bearing deposit funding. James Gorman, chairman and CEO, has steadily de-risked Morgan Stanley’s business by adding less volatile fee streams and deemphasizing the risk-obtuse culture of prior management. We believe the market will come to appreciate this mix shift over time.” 7. China Life Insurance Company Limited ( NYSE: LFC ) Number of Hedge Fund Holders: 5 China Life Insurance Company Limited (NYSE: LFC) is a Beijing-based insurance company founded in 1949. It is ranked seventh on our list of top 10 financial stocks today. It is one of the largest insurance firms in the world with a market cap of over $119 billion. The firm offers life, health, accidental, and business insurance policies. China Life Insurance Company Limited (NYSE: LFC) also markets investment management services. Like Bank of America Corporation (NYSE: BAC), Coinbase Global, Inc. (NASDAQ: COIN) and Berkshire Hathaway Inc. (NYSE: BRK-A), LFC is one of the best financial stocks to buy now. China Life Insurance Company Limited (NYSE: LFC) posted fiscal year earnings on March 25, reporting a net income of RMB50 billion and a revenue of RMB804 billion. The revenue number was a more than 10% increase compared to the revenue in the previous fiscal year. Out of the hedge funds being tracked by Insider Monkey, New York-based investment firm Renaissance Technologies is a leading shareholder in the firm with 871,006 shares worth more than $9.6 million. 6. Bank of America Corporation ( NYSE: BAC ) Number of Hedge Fund Holders: 99 Bank of America Corporation (NYSE: BAC) is a North Carolina-based investment bank and financial services firm. It was founded in 1784 and is placed sixth on our list of top 10 financial stocks today. Bank of America Corporation (NYSE: BAC) offers consumer banking, wealth management, and market research services. It serves more than 66 million clients and has more than 4,300 branches spread across the United States. Bank of America Corporation (NYSE: BAC) stock has returned more than 90% to investors over the past twelve months. On May 4, investment advisory Baird downgraded Bank of America Corporation (NYSE: BAC) stock to Neutral from Buy citing positive outlook for the firm already baked into the current valuations. The share price of the bank’s stock slipped close to 0.6% after the update. Still, Bank of America Corporation (NYSE: BAC) is one of the top financial stocks today. At the end of the fourth quarter of 2020, 99 hedge funds in the database of Insider Monkey held stakes worth $35 billion in the firm, up from 88 in the previous quarter worth $26 billion. Click to continue reading and see Top 5 Financial Stocks Today . Suggested articles: Top 10 High Growth Stocks To Buy in 2021 10 Best Rebound Stocks to Buy Now Top 10 Undervalued Tech Stocks Disclosure: None. Top 10 Financial Stocks Today is originally published on Insider Monkey. || Fintech Focus For May 12, 2021: Quote To Start The Day:“The most courageous act is still to think for yourself. Aloud.”
Source:Coco Chanel
One Big Thing In Fintech:To sustain the growth of a successful fintech startup you need to very quickly define your growth strategy. Decide who the user is that you want to win, then create advocates of your product who will drive growth and adoption at low acquisition costs. This is the only way to grow at scale and at a level of profitability that meets the high expectations of today’s market.
Source:Sifted
Other Key Fintech Developments:
• Cathie Wood, Pompjoin21Shares.
• A closerlookat the EU’s ETH bond.
• Lili neobankraises$55M for growth.
• Mayweather willreleaseNFTs soon.
• TransUnionledSpring Labs round.
• CboekicksFidelity-linked BTC ETF.
• Better will gopublicin a SPAC deal.
• JPMtapsalgos for staff placement.
• eBayopenedplatform to NFT sales.
• Balancer LabsaddedBalancer V2.
• Acuantteamedup with Chainalysis.
• Coinbasereaches#1 on App Store.
• Tacklingcrypto identify fraud issues.
• Circleaddsa Chief Finance Officer.
Watch Out For This:Merriam-Webster today announced it is auctioning the NFT (non-fungible token) of its definition of "NFT." The definition was added to the publisher's iconic dictionary this morning.
Source:Merriam-Webster
Interesting Reads:
• E-commerce and thefutureof retail.
• Uber, Lyftgiverides to vaccinations.
• YouTubeintros$100M creator fund.
Market Moving Headline:St. Louis Federal Reserve President James Bullard acknowledged the progress the economy has made but said Tuesday it’s still not time to ease back the throttle on policy.
In an interview on CNBC’s “Closing Bell,” the central bank official said fiscal and monetary policy help as well as aggressive vaccination efforts have helped keep growth going since the Covid-19 pandemic began in March 2020.
But he added that even with rising inflation ahead, the Fed should stay accommodative in its policy stance until there are clearer signs that the virus no longer poses as major a threat. That includes keeping short-term borrowing rates anchored near zero and continuing to buy at least $120 billion a month even as markets wonder when the Fed will start pulling back on those purchases.
Source:CNBC
See more from Benzinga
• Click here for options trades from Benzinga
• EXCLUSIVE: Sree Batchu On The Power Of The Los Angeles MedTech Ecosystem, Why You Should Care
• Fintech Focus For May 11, 2021
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Fintech Focus For May 12, 2021: Fintech Header Quote To Start The Day: “The most courageous act is still to think for yourself. Aloud.” Source: Coco Chanel One Big Thing In Fintech: To sustain the growth of a successful fintech startup you need to very quickly define your growth strategy. Decide who the user is that you want to win, then create advocates of your product who will drive growth and adoption at low acquisition costs. This is the only way to grow at scale and at a level of profitability that meets the high expectations of today’s market. Source: Sifted Other Key Fintech Developments: Cathie Wood, Pomp join 21Shares. A closer look at the EU’s ETH bond. Lili neobank raises $55M for growth. Mayweather will release NFTs soon. TransUnion led Spring Labs round. Cboe kicks Fidelity-linked BTC ETF. Better will go public in a SPAC deal. JPM taps algos for staff placement. eBay opened platform to NFT sales. Balancer Labs added Balancer V2. Acuant teamed up with Chainalysis. Coinbase reaches #1 on App Store. Tackling crypto identify fraud issues. Circle adds a Chief Finance Officer. Watch Out For This: Merriam-Webster today announced it is auctioning the NFT (non-fungible token) of its definition of "NFT." The definition was added to the publisher's iconic dictionary this morning. Source: Merriam-Webster Interesting Reads: E-commerce and the future of retail. Uber, Lyft give rides to vaccinations. YouTube intros $100M creator fund. Market Moving Headline: St. Louis Federal Reserve President James Bullard acknowledged the progress the economy has made but said Tuesday it’s still not time to ease back the throttle on policy. In an interview on CNBC’s “Closing Bell,” the central bank official said fiscal and monetary policy help as well as aggressive vaccination efforts have helped keep growth going since the Covid-19 pandemic began in March 2020. But he added that even with rising inflation ahead, the Fed should stay accommodative in its policy stance until there are clearer signs that the virus no longer poses as major a threat. That includes keeping short-term borrowing rates anchored near zero and continuing to buy at least $120 billion a month even as markets wonder when the Fed will start pulling back on those purchases. Story continues Source: CNBC See more from Benzinga Click here for options trades from Benzinga EXCLUSIVE: Sree Batchu On The Power Of The Los Angeles MedTech Ecosystem, Why You Should Care Fintech Focus For May 11, 2021 © 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Wall Street slides on soaring US inflation: Fears are growing that the US recovery could be derailed by surging prices after inflation jumped to its highest level since 2008.
April’s consumer prices index surged by 0.8pc and pushed annual inflation to 4.2pc, its highest since September 2008. The figure, which was far higher than the 3.6pc expected, sparked a turbulent day on markets as traders bet on the Fed reining in its Covid-19 stimulus.
The S&P and Dow Jones each closed 2pc down, with the former clocking its biggest one-day percentage drop since February. The tech-heavy Nasdaq tumbled almost 3pc. Adding to inflationary pressures, US petrol prices rose to a seven-year high yesterday.
Motorists in the US have already been hit in the wallet after the cost of second-hand cars soared 10pc in a month, the biggest rise since 1953. Semiconductor shortages hampering vehicle production have forced car hire firms such as Avis and Hertz to hoover up second-hand cars to meet recovering demand.
President Joe Biden’s stimulus packages are largely funded by borrowing and have also fuelled inflation worries.
Economists said the inflation move was exaggerated by price falls a year earlier. But core prices, which strip out volatile food and energy, also rose at the fastest pace for almost 40 years.
The Fed last year changed its policy to allow the US economy to run hotter as it pulls away from Covid-19.
That is all from us today. As I leave you, US markets are still firmly in the red. The benchmark S&P 500 is down over 1.5pc, Dow Jones has lost 1.4pc and the tech-heavy Nasdaq has shed more than 2pc.
Here are some of our top stories from today:
• Electric cars may make driving too expensive for middle classes, warns Vauxhall chief
• Exports to Europe return to pre-Brexit levels
• Cryptocurrency created two days ago worth $45bn
• Citymapper asks users for cash in global battle with Google Maps
• France seeks to keep the City out of Europe after fishing spat
Thank you for following along. Have a good evening and join again tomorrow.
Elon Musk has said Tesla is tweaking its self-driving software to eliminate the phantom braking problem and may release an improved version in the coming weeks.
It comes as US federal and state regulators have been scrutinising Tesla's semi-automated driving system following accidents in Texas and other areas.
In April, Musk said he would be "surprised" if wide beta service was available later than June, calling a May launch "aspirational." Tesla rolled out a pilot program of its long-touted beta full self driving (FSD) technology to a limited number of staff and customers in October, but has delayed the wider launch.
When asked by a Twitter user whether its vision-only system would remove the "phantom braking" issue, in which a Tesla car sometimes applies a brake abruptly under an overpass or a bridge, he said, "yes."
In a separate reply, Musk said subscriptions to the software for the system would be offered within a month, without elaborating further.
US venture capital firm institutional Venture Partners (IVP), whose portfolio companies include Robinhood Markets, Coinbase and Jessica Alba's Honest, has raised $1.8bn for growth-stage deals.
The new fund tops the firm's last $1.5bn one, bringing its total committed capital to $8.7bn.
It has benefitted from a wave of tech-related listings this year (like Coinbase). Founded in 1980 it has invested in more than 400 firms, with 120 of them having gone public. Five more are expected to list by the end of the summer, it said.
Summing up the (much more positive than yesterday) trading session for us isCMC Markets' Michael Hewson:
"After getting body slammed yesterday, European markets have enjoyed a fairly decent rebound today, with the FTSE100 leading the way higher, moving back above 7,000, although we still have some way to go to reverse yesterday’s losses."Today’s resilience is all the more surprising given that this afternoons US CPI data came out much hotter than expected, at 4.2pc, sending 10-year yields higher across the board."
• Among the benchmark's top risers: BP and Royal Dutch Shell, as crude oil prices head back towards $70 a barrel, on rising demand expectations.
• The benchmark's top faller: Just Eat Takeaway on news it plans to launch a new service in Germany - starting in Berlin in June - only two years after withdrawing from the market.
Internet orders dropped last month as Britons headed back to the high street, casting doubt over the growth of ecommerce in the months ahead.
My colleague Laura Onita reports:
Online retail sales were down 12pc last month compared to the month before as hundreds of thousands of non-essential sites reopened on April 12, according to data from IMRG Capgemini.Andy Mulcahy, a director at the firm, said that several large retailers benefited from significant pent-up demand and had record sales days.He added: “In January, we mapped out how growth could look if things go relatively well for online, relatively badly, and somewhere in the middle.“As people get more options for spending their money in later May and into June, that will provide a sterner test.”Nevertheless, internet orders were up 10pc year-on-year with strong demand for clothes. Fashion sales continued their reversal in fortunes, up 60.9pc overall and as high as 98.9pc for womenswear as customers increasingly plan for social events and summer holidays.
Bar owner Nightcap has raised £10m to help fund its acquisition of the Adventure Bar Group, more than doubling its initial fundraising target.
It raised funds through the share placing, having previously said it planned to raise around £4m. The London Cocktail Club owner last week revealed it had agreed a deal to buy Adventure Bar Group, which runs seven bars in London and two in Birmingham as well as holding a 50pc stake in a central London rooftop bar.
Nightcap chief executive and former Dragon's Den investor Sarah Willingham said the funds raised are a "great endorsement of the premium bar sector".
Gym chain Virgin Active has landed a victory against landlords in the courts, getting approval to wipe out unpaid rent on the majority of its sites and paving the way for similar moves by other ailing bricks-and-mortar businesses, reports my colleagueHannah Boland.
At a High Court ruling on Wednesday, Judge Richard Snowden decided to allow Virgin Active to push ahead with its restructuring plans, which forces landlords to write off rent arrears, despite the plans being opposed by most of its creditors.
More than 2,000 jobs were reportedly at risk across Virgin Active's 40 gyms, if the restructuring had been denied.Under new rules introduced at the start of the pandemic, companies can decide against pursuing the standard company voluntary arrangement, where plans need approval from three quarters of creditors, and instead opt for another restructuring process which requires just one class of creditors, such as banks or landlords, to approve the plans.
This is part of what is known as the "cross-class cramdown" rule. Virgin Active's case was the first where restructuring plans were contested by creditors and where this "cross-class cramdown" was sanctioned. Experts said the court ruling provided insight to how the court will rule in later cases.
The Nasdaq was leading losses this morning in New York, down 1.86pc.
The tech-heavy index slid after stronger-than-expected inflation data fuelled fears of a rate hike.
The Fed tried to reassure markets that any price pressure would be transient.
But some investors were not convinced, retreating from stocks with towering valuations which they believe would be most affected by a rise in interest rates.
Facebook, Amazon, Apple, Google parent Alphabet and Microsoft all fell between 0.6pc and 1.2pc.
The high-end concierge service Quintessentially, founded by Conservative party co-chairman Ben Elliot, has admitted to making £7m accounting errors and paying £1.4m of unlawful dividends to shareholders, according to its long-delayed 2019 financial report.
The FT has the full storyhere.
The $11bn (£8bn) float of the American arm of Britain’s biggest bookmaker has been delayed by the surprise resignation by a key executive, reports my colleagueOliver Gill.
Matt King, a former partner at private equity firm KKR, has decided to step down as chief executive of FanDuel.
It is understood that Mr King decided to quit after parent company Flutter elected to float a minority stake of FanDuel in the US earlier this year. He was unwilling to commit to remaining with the operator in the medium-term and signalled a willingness to return to smaller venture capital management, sources said.
FanDuel has raced into the lead as a decades-long ban on sports betting is rolled back on a state-by-state basis. The former fantasy sports website, which Flutter acquired in 2018, has 40pc of the burgeoning sports wagering market in the US.
America is expected to be the world’s biggest regulated sports gambling market with loss-making domestic operators such as DraftKing attracting multi billion-dollar valuations.
Flutter has sought to capitalise on this by exploring plans to float a minority stake in FanDuel.
“Whilst Matt's departure will affect the timing of any potential US listing, the Board will continue to keep this option under review,” the company said.
The world's second-biggest cryptocurrency, ether, has hit a record high today, with gains this year approaching 500pc.
The coin, also known as ethereum, climbed to $4,372.35 earlier before retreating slightly.
Cryptocurrency leader Bitcoin is down from record highs of above $60,000 last month and currently priced at $56,858.
Meanwhile in the UK, Cineworld shareholders have approved a new pay scheme for top execs - but support for higher remuneration markedly decreased after the cinema chain's terrible run in the pandemic.
A resolution to introduce a £65m bonus scheme based solely on share price targets was passed despite a shareholder rebellion back in January, and the chain suffered a similar revolt today as 25pc of votes were cast against its pay proposals - but not enough to stop it being passed. Influential shareholder advisory firms had recommended voting against higher exec pay, deeming it excessive.
Cineworld sank to its first ever loss due to Covid-19 restrictions in 2020 and came close to financial ruin.
"Following this, the board will continue its dialogue with shareholders on remuneration matters," the UK-listed company said.
Back to markets, and Wall Street has opened lower for the third session in a row after the aforementioned report on US inflation alarmed investors(see 1.53pm).
The Nasdaq is down 1.3pc - the worst of the bunch as tech stocks continued to bleed. The S&P 500 fell 0.9pc while the Dow Jones fell 0.7pc. Inflation remains the culprit, with fears rising over the past three days appearing well-founded as a a Labor Department report showed the US consumer price index jumped 0.8pc in March, far above expectations.
"The Fed is not going to panic after one startling consumer price index (CPI) report," a note from Pantheon Macroeconomics read.
"But this report does mean that the first part of the higher inflation story - the reopening spike - is real. It's no longer a forecast, and further hefty increases are coming."
Looking past the risk of inflation, today's GDP figures suggest a strong recovery is in store for the UK economy this summer.
City commentatorBen Marlowwrites that Britain can expect a strong bounce back from its worst economic crash for 300 years as restrictions are relaxed this spring, before the June 21 so-called return to normal.
He writes:
The scene is now set for a sizzling summer as the last of the shackles that have been holding back the economy since the start of the year are thrown off.If foreign holidays remain out of the question and the British weather holds up, then it isn’t fanciful to imagine the economy going gangbusters by July as pubs, restaurants and shops experience a spectacular spending frenzy and Britain basks in a staycation boom.
Read the full articlehere.
In early trading, the Dow opened 0.4pc down, the S&P 500 slipped 0.7pc and the Nasdaq dropped 1.3pc.
The Telegraph's economics editor,Russell Lynch, on the US price surge:
The biggest spike in US inflation since 2009 did nothing to calm the fragile nerves of financial markets on Wednesday as the spotlight on the Federal Reserve’s mammoth Covid-19 stimulus intensified.The April jump - fuelled by a record rise in used car costs - pushes the annual rate of inflation to a decade high of 4.2pc, far higher than expected by economists.The move was exaggerated by price falls a year earlier when the pandemic first struck but the figures also revealed core prices - which strip out volatile food and energy - rising at the fastest pace for almost 40 years.The Fed, which is still pumping $120bn a month in stimulus, has altered its inflation target to allow it to run the US economy, but the rise comes ahead of President Biden’s plans to pump $4bn extra into the economy this year.Daniele Antonucci, chief economist at private bank Quintet, said: “Even though the inflation pickup was expected, most forecasts didn’t foresee such a big jump. It’s fair to say that some of the key inflation indicators have tended to rise more than the consensus had envisaged recently.“This is what appears to have impacted stock markets over the past 48 hours, with tech shares once again retreating on fears that higher inflation may prompt central banks to hike rates sooner than expected.”
The debate around the trajectory of inflation is intensifying since the US consumer price index increased 0.8pc from the previous month, also registering record increase in used-car costs.
Excluding the volatile food and energy components, newly released US Labor Department data showed the so-called core CPI rose 0.9pc from March. That means the surge in the core measure was the largest since 1982.
"Seems pretty hot," said Neil Wilson, chief market analyst for Markets.com.
The US consumer prices that have just been released are pushing down U.S. stock futures due to concerns of faster interest rate hikes.
Just after the data was released at 1.30pm London time, Dow e-minis were down 0.57pc, S&P 500 e-minis were down 0.78pc, and Nasdaq 100 e-minis were down 1.18pc.
At the same time, the dollar advanced while Treasury yields rose.
Bloomberg has the details:
U.S. consumer prices climbed in April by the most since 2009, amid a record increase in used-car costs and signalling a build-up in inflationary pressures as burgeoning demand gives companies latitude to pass on higher costs.The consumer price index increased 0.8pc from the prior month after a 0.6pc gain in March, according to Labor Department data Wednesday. Excluding the volatile food and energy components, the so-called core CPI rose 0.9pc from March.The median forecasts in a Bloomberg survey of economists called for a 0.2pc in the CPI and a 0.3pc gain in the core measure.The annual CPI figure surged to 4.2pc, distorted by the comparison to the pandemic-depressed index in April 2020.This phenomenon -- known as the base effect -- will skew the May figure as well, likely muddling the ongoing inflation debate.While Federal Reserve officials and economists acknowledge the temporary boost, it’s unclear whether a more durable pickup in inflationary pressures is underway against a backdrop of soaring commodities costs, trillions of dollars in government economic stimulus and incipient signs of higher labour costs.
The stock market rally has overheated and triggered warning signs of a correction, with experts cautioning that investors had become complacent as shares have risen to new highs, reports my colleagueSam Benstead.
He writes:
Global stock markets have been knocked this week by fears of high inflation but remain close to all-time highs. Analysts at UBS, the bank, noted that many “sentiment” indicators, which measure investor confidence, suggested a “near-term correction” in share prices was coming.For example, it said the put-to-call ratio for European stocks, a gauge of how many investors are protecting themselves against a market crash, was at the lowest point since 2017.Another warning came from its bull-minus-bear ratio, showing how many investors are optimistic about stocks versus those that are pessimistic, which has also reached its highest level since 2017.
Read his article in fullhere.
London-based fashion search engine Lyst has raised £60m in a pre-IPO round of financing, although did not share details about when or where it plans to float.
Investors included funds managed by Fidelity International, Novator Capital, Giano Capital and C4 Ventures.
The company says it has more than 150m shoppers using its app.
The pound hit a new one-month high against the euro today and held steady against the dollar, holding on to recent gains in anticipation of much anticipated U.S. inflation data.
Sterling rose above the $1.41 benchmark for the first time since February earlier this week, due to a combination of market relief over Scottish election results, lockdown easing measures, a weak dollar and the Bank of England raising its forecast for economic growth.
The pound has held onto those gains and was at $1.4142 earlier today. Versus the euro it was up 0.2pc at 85.745 pence per euro.
James Murdoch has unveiled plans to list a $300m (£212m) blank-cheque company in America that will hunt media and technology investments across India and South East Asia, reports my colleagueBen Woods.
The special purpose acquisition company - or Spac - will be underpinned by his investment vehicle Lupa Systems, which owns stakes in Vice Media and the Tribeca Film Festival.
The 48-year-old son of media mogul Rupert Murdoch has teamed up with an executive who helped build his father's broadcasting empire across the subcontinent.
Uday Shankar, the former boss of Star India and president of Disney's Asia-Pacific arm, has become a co-chairman of the Spac known as Seven Islands Ic.
The cash shell is poised to list on New York's Nasdaq stock exchange offering 30 million shares at $10 each.
Lupa Systems was launched by James Murdoch in 2019 after stints leading Sky, 21st Century Fox and Star while under his father's control. He resigned from the board of his father's media empire News Corp in August over "disagreements" surrounding editorial content.
His older brother Lachlan Murdoch, the co-chairman of News Corp and chief executive of Fox, is seen as the heir to his father's dynasty.
Amazon has won its bid to topple a €250m (£214m) tax bill in another blow to European Union competition chief Margrethe Vestager’s crackdown on preferential fiscal deals.
Bloomberg has more details:
Regulators failed to show that the U.S. online retailer was given special treatment by Luxembourg’s tax authority in violation of state-aid rules, the EU General Court ruled on Wednesday.Amazon's victory follows last year’s landmark court defeat for the EU commissioner against Apple Inc., which contested a record 13 billion-euro tax order.The tech giants were both targeted as part of Vestager’s eight-year crusade against allegedly unfair treatment doled out by EU nations such as Luxembourg, Ireland and the Netherlands to attract some of the world’s leading firms.The European Commission “did not prove to the requisite legal standard that there was an undue reduction of the tax burden of a European subsidiary of the Amazon group,” the Luxembourg-based EU judges said.
The decision can be appealed.
A lockdown building boom risks short-term cement shortages as materials suppliers are deluged by record levels of demand, reports my colleagueRussell Lynch.
He writes:
Nigel Jackson, chief executive of the Material Products Association, said that “it would not be surprising if there were short term issues of supply as the economy gathers momentum”.The biggest strain had been evident in lead times for bagged cement typically used in domestic projects, as households look to deploy an estimated £200bn in pent-up savings, he said.The UK’s £16bn materials sector, which employs more than 80,000 people, supplies about a million tonnes of products every day and up to 12m tonnes of bagged cement a year.Mr Jackson said: “We appear to be coming out of this period of Covid-19 lockdowns, the roadmap is on course, people's confidence and optimism is growing. A lot of people have been confined to their homes and taken the decision to invest in improving because they're not moving.
Read his full storyhere.
US stock index futures were down ahead of Wall Street's reopening, as investors anxiously wait for important inflation data that could persuade the Federal Reserve to reconsider its ultra loose monetary policy.
Futures for the S&P 500 were down 0.2pc, contracts for the Nasdaq fell 0.4pc and the Dow Jones was also down 0.2pc.
Concerns around inflation have dragged down stocks this week as some investors interpret rising commodity markets and hiring difficulties as a sign of a coming surge in consumer prices.
Bloomberg is reporting that France aims to delay access to the European single market for UK financial firms to pressure the British government to resolve fishing rights, following tensions last week centred on the water surrounding the British island of Jersey.
All 27 EU members have to sign off on a Memorandum of Understanding that would pave the way for granting greater EU access for UK financial firms.
However French officials are planning to stall the regulatory agreement on finance, according to Bloomberg.
France's junior EU affairs minister, Clement Beaune, has already publicly threatened to limit EU access for UK financial services if fishing boats aren't treated fairly.
My colleagueSimon Foyhas more on this storyhere.
Recovering from yesterday's sell-off, the FTSE 100 has risen above the 7,000 points benchmark and is currently trading at around 7,006.
Internet Computer is already one of the largest digital assets in the world, with a market value of about $45 billion, despite only being launched on Monday.
After five years in the making, Swiss company Dfinity launched the cryptocurrency as part of a wider project that aims to create a blockchain rival to Amazon Web Services.
The project's founder Dominic Williams has described the project as a single, decentralised platform for "Web 3.0", which would allow developers to install code directly to the public internet - making hosting companies, servers, cloud services redundant.
Following a court ruling earlier this year, insurers have paid out over £700m in business interruption payments, the Financial Conduct Authority said today.
Read the full release below:
Here are some of the day’s top stories from the Telegraph Money team:
• 107,000 over-80s wrongly have no state pension: Those aged over 80 are entitled to weekly benefit regardless of National Insurance record
• Charity donations soar as thousands dodge inheritance tax:Giving away 10pc of an estate to charity cuts how much you pay in death duties
• Renters flood back to city centres in search of bargains:London affordability now at levels not seen in the past decade
Pub chain Marston's has named finance chief Andrew Andrea as its next boss, taking over from Ralph Findlay who has been at the helm for two decades, reports my colleagueHannah Boland.
Marston's, which runs around 1,400 pubs across the UK, said Mr Andrea would be taking up the post from the beginning of October when Mr Findlay steps down.
Mr Andrea was recently responsible for splitting out Marston's brewing arm last year, which saw those operations merged with Carlsberg UK in a joint venture, leaving Marston's as a focused pub operator.
Chairman William Rucker said he was well-equipped to "lead Marston’s through the next stage of its development".
Marston's said it would be hiring a new chief financial officer in due course.
Shares in UDG Healthcare have surged 20pc today after US private equity giant Clayton, Dubilier and Rice made a £2.6bn offer to buy the health services group.
The Dublin-based group is currently leading the FTSE 250 for gains.
The magazine publisher behind Country Life has strengthened its foothold in the American market by seizing the women's lifestyle title Marie Claire US, reports my colleagueBen Woods.
Future has snapped up the brand from joint owners Marie Claire Album and Hearst Magazines Media through a five-year licensing agreement.
The move comes after it sealed a £140m deal last year to buy TI Media, the owner of Marie Claire UK alongside titles such as Cycling Weekly and Woman's Weekly.
Future said the takeover "strengthens [its] position in the women's lifestyle vertical in North America in line with the group's strategy to achieve brand vertical leadership across English speaking markets."
Marie Claire US has an online audience of 17.5m each month, with around half of its $19.1m (£13.5m) revenues coming from digital.
Future has been hoovering up specialist magazines and websites, stripping out the costs and refashioning them as online-focused titles that guide readers towards buying products from ecommerce sites.
The company launched a £594m takeover of GoCompare owner GoCo Group in November to bolster its position in the price comparison market.
The world’s biggest tour operator is banking on a travel rebound to restore cash flows after reporting revenue was down 89pc and an operating loss of €1.3bn (£1.1bn) in the six months to March 31.
German group TUI reiterated that it will offer 75pc of 2019 capacity in the peak summer months of July through September. However as of May 2, booking levels were down 69pc from the comparable period in 2019.
The company’s solvency “could also be jeopardized” if further debt-covenant compliance suspensions can't be obtained, it said. In the following year, loans from Germany’s state-owned KfW fund and revolving credit facilities will have to be refinanced.
There is risk that “an extension of the existing financing or further government support measures will therefore be necessary,” TUI said.
The company said it has taken 2.6m bookings for summer 2021 so far, describing the figure as indicative of a strong demand trend. It expects Spain's Balearic and Canary islands and Greece to be the most in demand destinations when the travel industry reopens.
The company's shares dropped sharply after its financial reports was published this morning.
The FTSE 100 is recovering after yesterday's sell-off, creeping back towards the 7,000 benchmark.
At just before 9.45am, the index was trading around 6,988 points.
Technology investor SoftBank has reported record annual profits of $45.9bn, the highest ever for a Japanese company, on a par with technology giants Microsoft and Google, reports my colleagueMatthew Field.
The technology group, which holds stakes in Uber and Alibaba, swung from a loss in its last full financial year to huge paper gains thanks to its holdings in companies such as Doordash, which went public last year.
SoftBank has spent much of the last year reorganising its holdings with a giant $23bn share buyback, equivalent to 45pc of its stock, amid pressure from US hedge fund Elliott.
That has improved its market cap to over $175bn, with its share price roughly doubling over the past year. SoftBank chief Masayoshi Son had long complained the company's share price has traded far below the value of the assets it owns. At times it has been worth less than the portfolio of its $100bn Vision Fund.
SoftBank said it had tripled the amount it had put into its second Vision Fund to $30bn after its gains. It is in the process of selling UK chip firm Arm to US company Nvidia for $40bn.
Revenues have tumbled by a third at caterer Compass, as workers stay home.
In the six months ending 31 March, the company said today that revenue decreased by 32.4pc as a result of the pandemic, while operating profit decreased 78.3pc.
The group continues to lean on government support, it added, such as tax deferrals and staff furlough.
Shares however rose 1.9pc on forecasts its fiscal third-quarter margins would improve sequentially, supported by cost-cutting measures, after reporting a slight profit and revenue beat in the first half.
"Despite a difficult start to this year, economic growth in March is a promising sign of things to come," finance minister Rishi Sunak said in response to the economic data released today.
He added:
As a result of the actions that we've taken over the past year, we've managed to protect a lot of household incomes.I think that bodes well for the rest of the year. Our plan is working, consumers have built up savings.And what we now know, which we didn't know a year ago, (is) that actually as things open up, people do want to get out and go back to doing the things that they used to do, and I think we will see that in the coming weeks and months.
The coach company reported operating profit was ahead of last year, thanks to actions taken to reduce costs.
The first half of the year is expected to be in line with the second half of 2020, the company said, with a bounceback not expected until 2021's second half, once vaccinations increase and more restrictions lift.
The UK coach network is currently running at 13pc of pre-Covid mileage with 8pc of 2019's passenger numbers,
"Social distancing restrictions remain the key determinant of occupancy levels, with less than half the normal seating capacity available to sell", the company added.
Commenting on today's ONS construction figures, showing output grew by 5.8pc in March, Clive Docwra, Managing Director of property and construction consultancy McBains, said:
This is further proof of the construction sector’s continuing resurgence, with order books steadily being filled as confidence returns and the industry recovers from the downturn over the previous year.March represents the largest monthly growth since July 2020 when output grew by 17.8pc. Private new housing has been a key driver, and a landmark has been reached with output now above pre-pandemic levels.One slight reservation is that while new contracts continue to come in, construction firms are being squeezed by soaring prices of imported materials, notably concrete, steel and timber.With margins already tight, the rising cost of raw materials threaten to negate any profit gains, so many construction firms remain on a knife-edge.These increasing costs also serve as a warning sign of global inflationary pressures, which could derail any sustained longer term growth.
Drinks giant Diageo is up after a surprise announcement where the company pledged to return billions to shareholders after profit growth was expected to be above 14pc this year.
The company behind Johnnie Walker and Smirnoff brands said it would recommence its return of capital programme, with investors to get £1bn in the next two years and £4.5bn by 2024.
Chief executive, Ivan Menezes, said:
The Board's decision to resume our return of capital programme at this time reflects Diageo's improved performance in the first half of fiscal 21, the continued strong recovery of our business, and our expectation that we will be back within the top end of our target leverage ratio of 2.5-3.0x at 30 June 2022, post completion of the second phase of the return of capital programme.We are confident that Diageo will continue to execute effectively in this challenging environment and will emerge stronger.
The FTSE opened up 0.23pc, after closing at 6,947.99 yesterday.
Leading the gains were: Mining company Glencore (up 1.92pc), drinks giant Diageo (up 1.87pc) and foodservice company Compass Group (up 1.70pc).
With eight separate macros indicators released this morning, Charles Hepworth, Investment Director, GAM Investments, said today was a "a big day for getting a sense of direction of the fortunes for the UK economy":
First quarter GDP saw a decline as expected of 1.5pc given the lockdown extensions and curtailment of consumer activity. On the flip side, the economy grew faster than expected in March at 2.1pc and this is setting the scene for a potentially very strong bounce in Q2 of close to 5pc growth, according to some forecasts.Manufacturing production showed a strong increase of 2.1pc over the month of March, almost double estimates and Industrial Production followed with a similar forecast beating 1.8pc advance over the month.This shows the more important rate of change at the back end of the first quarter which is giving direction to where the UK economy might be now – powering back into a strong recovery and getting the justified reward for fast vaccine distribution.A faster recovery changes the dynamic of central bank rate decisions and gilt yields are seeing a drift higher this morning as the prospect of negative rates is further removed from their outlook.
Here’s some reaction to today’s better-than-expected growth figures.
Yael Selfin from KPMG said the data “underscores the resilience of the UK economy”, adding:
While the UK economy contracted by 1.5pc in the first quarter of 2021, the fall was paltry in comparison with the contraction during the first lockdown last year, highlighting the speed by which the economy has managed to adapt to social distancing restrictions.
Capital Economics’ Ruth Gregory called the 2.1pc March expansion “impressive”, saying it could mean the recovery is even quicker than hoped:
The burst of growth in March shows that the recovery has been gathering momentum more quickly than we had thought and suggests that the risks to our forecast for the economy to return to its February 2020 level by the end of 2021 are to the upside…We expect second and third quarter GDP growth to be between 3.0-3.5pc q/q and for the economy to return to its February level before the end of the year. If anything, these figures suggest that the economy could regain its pre-crisis level even sooner.
Rory Macqueen, principal economist at NIESR, said the stage is now set for a stronger rebound during the second quarter (April to June):
A contraction of 1.5 per cent is in line with our forecast for the first quarter of the year, underlining the extent to which the economy has adapted to deal with the latest national lockdown. This has provided a better start to 2021 than anticipated at the beginning of the year and we expect it to contribute to a strong rebound in the second quarter, as the economy opens up, consistent with our year-on-year growth forecast of 5.7 per cent in 2021.As expected with many children returning to school, the education sector provided the largest contribution to growth in March. There were also significant contributions from the retail sector and from testing and vaccination programmes in the health and social care sector.
Here’s an interactive breakdown of those trade figures, showing a pretty strong recovery in exports, but an altogether less convincing shift in imports from the bloc:
Interestingly, those divergent recoveries defy the situation on the ground, which is that UK exporters are facing new barriers (read more here), while the UK doesn’t plan to enforce new rules until October 1st.
The reasons for that remain the subject of speculation at the moment, but here are a few possible explanation:
• EU companies are nervous about exporting to the UK at present, so may have paused such operations
• UK companies are still burning through pre-Brexit stockpiles
• UK companies have already chosen to pivot more towards domestic sourcing
An international comparison shows the UK remains alongside Spain as one of the worst-hit global economies from the the pandemic. In both cases, that’s because of the prominence of the consumer-facing service sector.
In nominal terms (not adjusted for inflation), the reading is rather different, however, and the subtleties of the UK’s GDP measurement approach means that an especially sharp fall may be followed by an especially quick recovery. If you want the fully wonkery,read this from the ONS.
The reopening of schools in March provided a big boost to output growth in the services sector, making up over a quarter of a 1.9pc rise during the month. Conversely, if you take a quarter-level view, education was the biggest factor in the service decline – as ever, it can be those areas that witness the sharpest contractions that make the quickest recoveries.
The ONS notes output across the services sector – by far the UK’s most important economic sector – is still 7.2pc below pre-pandemic levels.
Meanwhile, manufacturing output rose by 2.1pc in March, the fastest pace since July 2020.
An interesting nugget from the ONS’s trade release (which you can read here):
Quarter 1 2021 is the first quarter since records began in January 1997 that imports of goods from non-EU countries are higher than from EU countries. However, with only one quarter of data available, and the ongoing pandemic and recession, it is too early to assess the extent to which this reflects short-term trade disruption or longer-term supply chain adjustments. We will continue to assess this over the coming months.
UK goods trade with the EU continued to recover towards pre-Brexit levels during March, but imports in particular remain markedly lower than 2020 levels.
Cars were key to the increases, the ONS says:
Exports and imports of goods with the EU, excluding precious metals, increased by £1.0bn (8.6pc) and £0.8bn (4.5pc) respectively in March 2021; both driven by cars.
Here’s how the figures have shifted:
Data for the whole quarterly shows a mild dip in production output, while services suffered the most heavily. In comparison, construction was able to continue its output expansion.
After extremely tepid growth during February of just 0.4pc, that 2.1pc expansion for March is an encouraging sign. Those wishing for a quick and full recovery (who isn’t?) will be hoping that the pace increases further when April’s data comes in, reflecting continued loosening of restrictions and the return of non-essential retail.
Looking at GDP as an index, you can see just how mild the drop during the first quarter was – but output still has a long way to go to recover the plunge seen last year. Output remains 5.9pc below the levels seen in February 2020.
The UK economy grew by 2.1pc during March, according to the ONS, leaving output only 1.5pc smaller over the quarter – better than expected on both counts.
Consensus among economists suggests the economy shrank 1.6pc during the first three months of the year, mainly reflecting a decline in services activity as tight new restrictions took effect. Compared to the plunge seen during the first lockdown last spring, however, it’s a negligible drop.
GDP is expected to have risen 1.4pc during March. Capital Economics think momentum could continue to build during April:
Now that the COVID-19 restrictions are being removed, it looks as though the rebound in activity may be even faster than we expected. We estimate that the reopening in schools drove a 1.5pc m/m rise in GDP in March and that the reopening of non-essential retailers/hospitality in April and May might lead to bigger gains.
Pantheon Macroeconomics’ Samuel Tombs is a bit more cautious about April’s data, after looking at card spending data from the Bank of England:
The BoE’s daily CHAPS payments data indicate that retail sales fell back towards the end of April, suggesting that pent-up demand has quickly washed through. For now, then, we are still not seeing signs that households are about to embark on a multi- month spending spree with their accumulated savings that would cause the economy to overheat.
From a markets perspective, there’s likely to be less interest in these start-of-year figures than those towards the end of the year, when predictions that the UK will undergo a period of strong growth will be put to the test.
The Bank of England reckons output could be back to pre-pandemic levels by the end of 2021, but analysts at the National Institute of Economic and Social Research are more sceptical. Here’s more from my colleagueTim Wallace:
Weaker worldwide growth will hold back the UK's open and trade-dependent economy, the analysts predict, with sustained travel restrictions proving particularly painful.At the same time families will be more cautious about spending their lockdown savings or returning to their old financial habits, the economists warn, and will hold back more cash than they used to, also limiting the economic rebound.
Good morning. We’ll get data for UK growth during March at 7am, which will complete the Office for National Statistics’ estimates for the first quarter of the year.
The consensus is for a 1.7pc quarter-on-quarter fall, showing the UK economy re-entered a contraction amid widespread restrictions. Still, the drop will be far smaller than initially feared.
Alongside growth, we’ll also get trade data, which is expected to show a continued recovery in UK exports during March.
Later on, however, is the big event: US inflation data, which will confirm whether the world’s biggest economy is heating up at a fast enough rate to cause concern.
1)Inflation threat sparks global stock market sell-off:FTSE 100 falls 175 points as investors await crucial price data from the US today amid fears world's biggest economy is overheating.
2)New concern over HS2 leg to Leeds:Campaigners have urged the PM not to abandon a high-speed rail link leg to Leeds after the Queen’s Speech stoked fresh fears it could be axed.
3)Activists sue Government over North Sea oil and gas drilling:Climate campaigners have launched a High Court battle against the Government over its support for North Sea oil and gas drilling.
4)Goldman banker 'quits after making millions from Dogecoin':Aziz McMahon resigned after benefiting from the joke digital currency’s meteoric growth this year surpassing that of any other cryptocurrency.
5)How Hitachi's plan to replace UK's train fleet went off the rails:The cracks discovered on the Japanese company’s Azuma trains are the latest in a litany of problems.
Asian shares fell for a second straight session on Wednesday to one-month lows as investors speculated surging commodity prices and growing inflationary pressure in the US could lead to earlier rate hikes and higher bond yields globally.
MSCI’s broadest index of Asia-Pacific shares outside Japan faltered 0.5pc, after tumbling 1.6pc on Tuesday for its biggest daily percentage drop since March 24.
At 682 points, the regional index is not too far from a record high of 745.89 touched in February and is still up 3pc this year so far, on top of a 19pc jump in 2020 and a near 16pc rise in 2019.
Shares in China opened in the red, with the blue-chip index off 0.2pc.
Australian stocks slipped 0.6pc while South Korea's KOSPI index skidded 0.7pc. Japan's Nikkei reversed early gains to be down 0.4pc.
Analysts, however, doubted the sell-off would extend much further in a world of easy accommodative policy and fiscal largesse.
Corporate:Investec(Full year);Compass Group, Tui, Airtel Africa(Interim results);Coca-Cola HBC, National Express, Marshalls, TI Fluid Systems, Spirax- Sarco(Trading update)
Economics:Trade balance, industrial, manufacturing and construction output, GDP(UK),consumer price index(Ger),industrial production(EU) || Wall Street slides on soaring US inflation: People walk past the New York Stock Exchange on Wall Street Fears are growing that the US recovery could be derailed by surging prices after inflation jumped to its highest level since 2008. April’s consumer prices index surged by 0.8pc and pushed annual inflation to 4.2pc, its highest since September 2008. The figure, which was far higher than the 3.6pc expected, sparked a turbulent day on markets as traders bet on the Fed reining in its Covid-19 stimulus. The S&P and Dow Jones each closed 2pc down, with the former clocking its biggest one-day percentage drop since February. The tech-heavy Nasdaq tumbled almost 3pc. Adding to inflationary pressures, US petrol prices rose to a seven-year high yesterday. Motorists in the US have already been hit in the wallet after the cost of second-hand cars soared 10pc in a month, the biggest rise since 1953. Semiconductor shortages hampering vehicle production have forced car hire firms such as Avis and Hertz to hoover up second-hand cars to meet recovering demand. President Joe Biden’s stimulus packages are largely funded by borrowing and have also fuelled inflation worries. Economists said the inflation move was exaggerated by price falls a year earlier. But core prices, which strip out volatile food and energy, also rose at the fastest pace for almost 40 years. The Fed last year changed its policy to allow the US economy to run hotter as it pulls away from Covid-19. 05:26 PM Wrapping up That is all from us today. As I leave you, US markets are still firmly in the red. The benchmark S&P 500 is down over 1.5pc, Dow Jones has lost 1.4pc and the tech-heavy Nasdaq has shed more than 2pc. Here are some of our top stories from today: Electric cars may make driving too expensive for middle classes, warns Vauxhall chief Exports to Europe return to pre-Brexit levels Cryptocurrency created two days ago worth $45bn Citymapper asks users for cash in global battle with Google Maps France seeks to keep the City out of Europe after fishing spat Thank you for following along. Have a good evening and join again tomorrow. Story continues 05:22 PM Tesla self-driving rollout could take a couple of months - Musk Elon Musk has said Tesla is tweaking its self-driving software to eliminate the phantom braking problem and may release an improved version in the coming weeks. It comes as US federal and state regulators have been scrutinising Tesla's semi-automated driving system following accidents in Texas and other areas. I think we’re maybe a month or two away from wide beta. But these things are hard to predict accurately. The work we had to do for pure vision driving was needed for FSD, so much more progress has been made than it would seem. — Elon Musk (@elonmusk) May 12, 2021 In April, Musk said he would be "surprised" if wide beta service was available later than June, calling a May launch "aspirational." Tesla rolled out a pilot program of its long-touted beta full self driving (FSD) technology to a limited number of staff and customers in October, but has delayed the wider launch. When asked by a Twitter user whether its vision-only system would remove the "phantom braking" issue, in which a Tesla car sometimes applies a brake abruptly under an overpass or a bridge, he said, "yes." In a separate reply, Musk said subscriptions to the software for the system would be offered within a month, without elaborating further. 04:53 PM Coinbase investor raises $1.8bn for growth-stage deals US venture capital firm institutional Venture Partners (IVP), whose portfolio companies include Robinhood Markets, Coinbase and Jessica Alba's Honest, has raised $1.8bn for growth-stage deals. The new fund tops the firm's last $1.5bn one, bringing its total committed capital to $8.7bn. It has benefitted from a wave of tech-related listings this year (like Coinbase). Founded in 1980 it has invested in more than 400 firms, with 120 of them having gone public. Five more are expected to list by the end of the summer, it said. 04:28 PM A better session than Tuesday Summing up the (much more positive than yesterday) trading session for us is CMC Markets' Michael Hewson: "After getting body slammed yesterday, European markets have enjoyed a fairly decent rebound today, with the FTSE100 leading the way higher, moving back above 7,000, although we still have some way to go to reverse yesterday’s losses. "Today’s resilience is all the more surprising given that this afternoons US CPI data came out much hotter than expected, at 4.2pc, sending 10-year yields higher across the board." Among the benchmark's top risers: BP and Royal Dutch Shell, as crude oil prices head back towards $70 a barrel, on rising demand expectations. The benchmark's top faller: Just Eat Takeaway on news it plans to launch a new service in Germany - starting in Berlin in June - only two years after withdrawing from the market. 04:17 PM Internet orders drop as shops reopen Oxford St Internet orders dropped last month as Britons headed back to the high street, casting doubt over the growth of ecommerce in the months ahead. My colleague Laura Onita reports: Online retail sales were down 12pc last month compared to the month before as hundreds of thousands of non-essential sites reopened on April 12, according to data from IMRG Capgemini. Andy Mulcahy, a director at the firm, said that several large retailers benefited from significant pent-up demand and had record sales days. He added: “In January, we mapped out how growth could look if things go relatively well for online, relatively badly, and somewhere in the middle. “As people get more options for spending their money in later May and into June, that will provide a sterner test.” Nevertheless, internet orders were up 10pc year-on-year with strong demand for clothes. Fashion sales continued their reversal in fortunes, up 60.9pc overall and as high as 98.9pc for womenswear as customers increasingly plan for social events and summer holidays. 04:01 PM Nightcap raises £10m to buy Adventure Bar Bar owner Nightcap has raised £10m to help fund its acquisition of the Adventure Bar Group, more than doubling its initial fundraising target. It raised funds through the share placing, having previously said it planned to raise around £4m. The London Cocktail Club owner last week revealed it had agreed a deal to buy Adventure Bar Group, which runs seven bars in London and two in Birmingham as well as holding a 50pc stake in a central London rooftop bar. Nightcap chief executive and former Dragon's Den investor Sarah Willingham said the funds raised are a "great endorsement of the premium bar sector". 03:44 PM Virgin Active gets court approval to wipe out unpaid rent Richard Branson - Anthony Kwan /Bloomberg Gym chain Virgin Active has landed a victory against landlords in the courts, getting approval to wipe out unpaid rent on the majority of its sites and paving the way for similar moves by other ailing bricks-and-mortar businesses, reports my colleague Hannah Boland . At a High Court ruling on Wednesday, Judge Richard Snowden decided to allow Virgin Active to push ahead with its restructuring plans, which forces landlords to write off rent arrears, despite the plans being opposed by most of its creditors. More than 2,000 jobs were reportedly at risk across Virgin Active's 40 gyms, if the restructuring had been denied. Under new rules introduced at the start of the pandemic, companies can decide against pursuing the standard company voluntary arrangement, where plans need approval from three quarters of creditors, and instead opt for another restructuring process which requires just one class of creditors, such as banks or landlords, to approve the plans. This is part of what is known as the "cross-class cramdown" rule. Virgin Active's case was the first where restructuring plans were contested by creditors and where this "cross-class cramdown" was sanctioned. Experts said the court ruling provided insight to how the court will rule in later cases. 03:20 PM Nasdaq leads losses on Wall Street The Nasdaq was leading losses this morning in New York, down 1.86pc. The tech-heavy index slid after stronger-than-expected inflation data fuelled fears of a rate hike. The Fed tried to reassure markets that any price pressure would be transient. But some investors were not convinced, retreating from stocks with towering valuations which they believe would be most affected by a rise in interest rates. Facebook, Amazon, Apple, Google parent Alphabet and Microsoft all fell between 0.6pc and 1.2pc. 03:07 PM Quintessentially admits to unlawful dividends Ben Elliott and Ruth Powys - Julian Andrews, /Telegraph The high-end concierge service Quintessentially, founded by Conservative party co-chairman Ben Elliot, has admitted to making £7m accounting errors and paying £1.4m of unlawful dividends to shareholders, according to its long-delayed 2019 financial report. The FT has the full story here . 02:50 PM Britain’s biggest bookmaker delays £8bn float after executive exit The $11bn (£8bn) float of the American arm of Britain’s biggest bookmaker has been delayed by the surprise resignation by a key executive, reports my colleague Oliver Gill . Matt King, a former partner at private equity firm KKR, has decided to step down as chief executive of FanDuel. It is understood that Mr King decided to quit after parent company Flutter elected to float a minority stake of FanDuel in the US earlier this year. He was unwilling to commit to remaining with the operator in the medium-term and signalled a willingness to return to smaller venture capital management, sources said. FanDuel has raced into the lead as a decades-long ban on sports betting is rolled back on a state-by-state basis. The former fantasy sports website, which Flutter acquired in 2018, has 40pc of the burgeoning sports wagering market in the US. America is expected to be the world’s biggest regulated sports gambling market with loss-making domestic operators such as DraftKing attracting multi billion-dollar valuations. Flutter has sought to capitalise on this by exploring plans to float a minority stake in FanDuel. “Whilst Matt's departure will affect the timing of any potential US listing, the Board will continue to keep this option under review,” the company said. 02:40 PM Cryptocurrency ether hits record highs The world's second-biggest cryptocurrency, ether, has hit a record high today, with gains this year approaching 500pc. The coin, also known as ethereum, climbed to $4,372.35 earlier before retreating slightly. Cryptocurrency leader Bitcoin is down from record highs of above $60,000 last month and currently priced at $56,858. 02:28 PM Shareholders pass Cineworld pay proposals Cineworld's cinemas have been closed for most of the past 14 months during the pandemic - Jason Alden/Bloomberg Meanwhile in the UK, Cineworld shareholders have approved a new pay scheme for top execs - but support for higher remuneration markedly decreased after the cinema chain's terrible run in the pandemic. A resolution to introduce a £65m bonus scheme based solely on share price targets was passed despite a shareholder rebellion back in January, and the chain suffered a similar revolt today as 25pc of votes were cast against its pay proposals - but not enough to stop it being passed. Influential shareholder advisory firms had recommended voting against higher exec pay, deeming it excessive. Cineworld sank to its first ever loss due to Covid-19 restrictions in 2020 and came close to financial ruin. "Following this, the board will continue its dialogue with shareholders on remuneration matters," the UK-listed company said. 02:09 PM Wall Street falls again after rise in US inflation Wall Street traders were rocked by a 0.8pc jump in March inflation revealed today - Seth Wenig /AP Back to markets, and Wall Street has opened lower for the third session in a row after the aforementioned report on US inflation alarmed investors (see 1.53pm) . The Nasdaq is down 1.3pc - the worst of the bunch as tech stocks continued to bleed. The S&P 500 fell 0.9pc while the Dow Jones fell 0.7pc. Inflation remains the culprit, with fears rising over the past three days appearing well-founded as a a Labor Department report showed the US consumer price index jumped 0.8pc in March, far above expectations. "The Fed is not going to panic after one startling consumer price index (CPI) report," a note from Pantheon Macroeconomics read. "But this report does mean that the first part of the higher inflation story - the reopening spike - is real. It's no longer a forecast, and further hefty increases are coming." 01:47 PM UK set for a sizzling summer comeback A summer with no restrictions could result in a huge boost to GDP - Peter Dench/Getty Images Looking past the risk of inflation, today's GDP figures suggest a strong recovery is in store for the UK economy this summer. City commentator Ben Marlow writes that Britain can expect a strong bounce back from its worst economic crash for 300 years as restrictions are relaxed this spring, before the June 21 so-called return to normal. He writes: The scene is now set for a sizzling summer as the last of the shackles that have been holding back the economy since the start of the year are thrown off. If foreign holidays remain out of the question and the British weather holds up, then it isn’t fanciful to imagine the economy going gangbusters by July as pubs, restaurants and shops experience a spectacular spending frenzy and Britain basks in a staycation boom. Read the full article here . 01:35 PM US stocks extend losses after release of inflation data In early trading, the Dow opened 0.4pc down, the S&P 500 slipped 0.7pc and the Nasdaq dropped 1.3pc. 01:27 PM Fragile nerves on financial markets The Telegraph's economics editor, Russell Lynch , on the US price surge: The biggest spike in US inflation since 2009 did nothing to calm the fragile nerves of financial markets on Wednesday as the spotlight on the Federal Reserve’s mammoth Covid-19 stimulus intensified. The April jump - fuelled by a record rise in used car costs - pushes the annual rate of inflation to a decade high of 4.2pc, far higher than expected by economists. The move was exaggerated by price falls a year earlier when the pandemic first struck but the figures also revealed core prices - which strip out volatile food and energy - rising at the fastest pace for almost 40 years. The Fed, which is still pumping $120bn a month in stimulus, has altered its inflation target to allow it to run the US economy, but the rise comes ahead of President Biden’s plans to pump $4bn extra into the economy this year. Daniele Antonucci, chief economist at private bank Quintet, said: “Even though the inflation pickup was expected, most forecasts didn’t foresee such a big jump. It’s fair to say that some of the key inflation indicators have tended to rise more than the consensus had envisaged recently. “This is what appears to have impacted stock markets over the past 48 hours, with tech shares once again retreating on fears that higher inflation may prompt central banks to hike rates sooner than expected.” 12:53 PM April surge in US consumer prices The debate around the trajectory of inflation is intensifying since the US consumer price index increased 0.8pc from the previous month, also registering record increase in used-car costs. Excluding the volatile food and energy components, newly released US Labor Department data showed the so-called core CPI rose 0.9pc from March. That means the surge in the core measure was the largest since 1982. "Seems pretty hot," said Neil Wilson, chief market analyst for Markets.com. used cars and trucks +10% in a single month pic.twitter.com/9vGgAPjoCb — Neil Wilson (@marketsneil) May 12, 2021 12:44 PM US futures extend losses as inflation data tops estimates The US consumer prices that have just been released are pushing down U.S. stock futures due to concerns of faster interest rate hikes. Just after the data was released at 1.30pm London time, Dow e-minis were down 0.57pc, S&P 500 e-minis were down 0.78pc, and Nasdaq 100 e-minis were down 1.18pc. At the same time, the dollar advanced while Treasury yields rose. NASDAQ FUTURES DOWN 1.5% AFTER INFLATION DATA SPOT GOLD EXTENDS LOSSES AFTER U.S. CPI DATA, LAST DOWN 0.8% DOLLAR INDEX JUMPS HIGHER AFTER U.S. CPI DATA, LAST UP 0.44% AT 90.608 — *Walter Bloomberg (@DeItaone) May 12, 2021 12:38 PM Consumer Prices in U.S. Increase by Most Since 2009 Bloomberg has the details: U.S. consumer prices climbed in April by the most since 2009, amid a record increase in used-car costs and signalling a build-up in inflationary pressures as burgeoning demand gives companies latitude to pass on higher costs. The consumer price index increased 0.8pc from the prior month after a 0.6pc gain in March, according to Labor Department data Wednesday. Excluding the volatile food and energy components, the so-called core CPI rose 0.9pc from March. The median forecasts in a Bloomberg survey of economists called for a 0.2pc in the CPI and a 0.3pc gain in the core measure.The annual CPI figure surged to 4.2pc, distorted by the comparison to the pandemic-depressed index in April 2020. This phenomenon -- known as the base effect -- will skew the May figure as well, likely muddling the ongoing inflation debate. While Federal Reserve officials and economists acknowledge the temporary boost, it’s unclear whether a more durable pickup in inflationary pressures is underway against a backdrop of soaring commodities costs, trillions of dollars in government economic stimulus and incipient signs of higher labour costs. April CPI spiked much higher than expected at +4.2% y/y (+0.9% m/m) vs. +3.6% est. & +2.6% in prior month; core +3% y/y vs. +2.3% est. & +1.6% in prior month … headline highest since 2008 and core highest since 1995 pic.twitter.com/gBOtu0rTX1 — Liz Ann Sonders (@LizAnnSonders) May 12, 2021 12:21 PM Stock market signals 'flashing red' as rally overheats The stock market rally has overheated and triggered warning signs of a correction, with experts cautioning that investors had become complacent as shares have risen to new highs, reports my colleague Sam Benstead . He writes: Global stock markets have been knocked this week by fears of high inflation but remain close to all-time highs. Analysts at UBS, the bank, noted that many “sentiment” indicators, which measure investor confidence, suggested a “near-term correction” in share prices was coming. For example, it said the put-to-call ratio for European stocks, a gauge of how many investors are protecting themselves against a market crash, was at the lowest point since 2017. Another warning came from its bull-minus-bear ratio, showing how many investors are optimistic about stocks versus those that are pessimistic, which has also reached its highest level since 2017. Read his article in full here . 12:06 PM Lyst raises £60m in 'pre-IPO' financing London-based fashion search engine Lyst has raised £60m in a pre-IPO round of financing, although did not share details about when or where it plans to float. Investors included funds managed by Fidelity International, Novator Capital, Giano Capital and C4 Ventures. The company says it has more than 150m shoppers using its app. 11:50 AM Pound hits one-month high against the euro The pound hit a new one-month high against the euro today and held steady against the dollar, holding on to recent gains in anticipation of much anticipated U.S. inflation data. Sterling rose above the $1.41 benchmark for the first time since February earlier this week, due to a combination of market relief over Scottish election results, lockdown easing measures, a weak dollar and the Bank of England raising its forecast for economic growth. The pound has held onto those gains and was at $1.4142 earlier today. Versus the euro it was up 0.2pc at 85.745 pence per euro. 11:45 AM James Murdoch to list £200m media Spac in US James Murdoch has unveiled plans to list a $300m (£212m) blank-cheque company in America that will hunt media and technology investments across India and South East Asia, reports my colleague Ben Woods . The special purpose acquisition company - or Spac - will be underpinned by his investment vehicle Lupa Systems, which owns stakes in Vice Media and the Tribeca Film Festival. The 48-year-old son of media mogul Rupert Murdoch has teamed up with an executive who helped build his father's broadcasting empire across the subcontinent. Uday Shankar, the former boss of Star India and president of Disney's Asia-Pacific arm, has become a co-chairman of the Spac known as Seven Islands Ic. The cash shell is poised to list on New York's Nasdaq stock exchange offering 30 million shares at $10 each. Lupa Systems was launched by James Murdoch in 2019 after stints leading Sky, 21st Century Fox and Star while under his father's control. He resigned from the board of his father's media empire News Corp in August over "disagreements" surrounding editorial content. His older brother Lachlan Murdoch, the co-chairman of News Corp and chief executive of Fox, is seen as the heir to his father's dynasty. 11:33 AM EU judges reject Amazon's €250 tax bill Margrethe Vestager - EMMANUEL DUNAND /AFP Amazon has won its bid to topple a €250m (£214m) tax bill in another blow to European Union competition chief Margrethe Vestager’s crackdown on preferential fiscal deals. Bloomberg has more details: Regulators failed to show that the U.S. online retailer was given special treatment by Luxembourg’s tax authority in violation of state-aid rules, the EU General Court ruled on Wednesday. Amazon's victory follows last year’s landmark court defeat for the EU commissioner against Apple Inc., which contested a record 13 billion-euro tax order. The tech giants were both targeted as part of Vestager’s eight-year crusade against allegedly unfair treatment doled out by EU nations such as Luxembourg, Ireland and the Netherlands to attract some of the world’s leading firms. The European Commission “did not prove to the requisite legal standard that there was an undue reduction of the tax burden of a European subsidiary of the Amazon group,” the Luxembourg-based EU judges said. The decision can be appealed. 11:19 AM Building boom triggers cement shortages A lockdown building boom risks short-term cement shortages as materials suppliers are deluged by record levels of demand, reports my colleague Russell Lynch . He writes: Nigel Jackson, chief executive of the Material Products Association, said that “it would not be surprising if there were short term issues of supply as the economy gathers momentum”. The biggest strain had been evident in lead times for bagged cement typically used in domestic projects, as households look to deploy an estimated £200bn in pent-up savings, he said. The UK’s £16bn materials sector, which employs more than 80,000 people, supplies about a million tonnes of products every day and up to 12m tonnes of bagged cement a year. Mr Jackson said: “We appear to be coming out of this period of Covid-19 lockdowns, the roadmap is on course, people's confidence and optimism is growing. A lot of people have been confined to their homes and taken the decision to invest in improving because they're not moving. Read his full story here . 11:09 AM US futures slide as investors await inflation data US stock index futures were down ahead of Wall Street's reopening, as investors anxiously wait for important inflation data that could persuade the Federal Reserve to reconsider its ultra loose monetary policy. Futures for the S&P 500 were down 0.2pc, contracts for the Nasdaq fell 0.4pc and the Dow Jones was also down 0.2pc. Concerns around inflation have dragged down stocks this week as some investors interpret rising commodity markets and hiring difficulties as a sign of a coming surge in consumer prices. 11:05 AM France to delay EU financial services deal until Britain resolves fishing access rights Fishing vessels protest at sea off the coast of Jersey - Oliver Pinel /Telegraph Bloomberg is reporting that France aims to delay access to the European single market for UK financial firms to pressure the British government to resolve fishing rights, following tensions last week centred on the water surrounding the British island of Jersey. All 27 EU members have to sign off on a Memorandum of Understanding that would pave the way for granting greater EU access for UK financial firms. However French officials are planning to stall the regulatory agreement on finance, according to Bloomberg. France's junior EU affairs minister, Clement Beaune, has already publicly threatened to limit EU access for UK financial services if fishing boats aren't treated fairly. My colleague Simon Foy has more on this story here . 10:43 AM FTSE is back above 7,000 Recovering from yesterday's sell-off, the FTSE 100 has risen above the 7,000 points benchmark and is currently trading at around 7,006. 10:33 AM Two-Day-Old Cryptocurrency Surges to $45 Billion Market Value Internet Computer is already one of the largest digital assets in the world, with a market value of about $45 billion, despite only being launched on Monday. After five years in the making, Swiss company Dfinity launched the cryptocurrency as part of a wider project that aims to create a blockchain rival to Amazon Web Services. The project's founder Dominic Williams has described the project as a single, decentralised platform for "Web 3.0", which would allow developers to install code directly to the public internet - making hosting companies, servers, cloud services redundant. Block heights: Bitcoin 683,215 Ethereum 12,417,539 Internet Computer 3,031,486... This is only 36 hours in & it's accelerating Scale to ∞ — Dominic Williams ∞ (@dominic_w) May 12, 2021 10:17 AM Insurers pay out over £700m in business interruption payments Following a court ruling earlier this year, insurers have paid out over £700m in business interruption payments, the Financial Conduct Authority said today. Read the full release below: We’ve published our latest data from insurers on the progress of their business interruption insurance claims #FCAData https://t.co/23FvGv4AZk — Financial Conduct Authority (@TheFCA) May 12, 2021 10:04 AM Money round-up Here are some of the day’s top stories from the Telegraph Money team: 107,000 over-80s wrongly have no state pension : Those aged over 80 are entitled to weekly benefit regardless of National Insurance record Charity donations soar as thousands dodge inheritance tax : Giving away 10pc of an estate to charity cuts how much you pay in death duties Renters flood back to city centres in search of bargains : London affordability now at levels not seen in the past decade 09:38 AM Pub chain Marston's names next boss Marston's brewery - CARL RECINE /REUTERS Pub chain Marston's has named finance chief Andrew Andrea as its next boss, taking over from Ralph Findlay who has been at the helm for two decades, reports my colleague Hannah Boland . Marston's, which runs around 1,400 pubs across the UK, said Mr Andrea would be taking up the post from the beginning of October when Mr Findlay steps down. Mr Andrea was recently responsible for splitting out Marston's brewing arm last year, which saw those operations merged with Carlsberg UK in a joint venture, leaving Marston's as a focused pub operator. Chairman William Rucker said he was well-equipped to "lead Marston’s through the next stage of its development". Marston's said it would be hiring a new chief financial officer in due course. 09:20 AM UDG Healthcare shares surges after £2.6bn offer Shares in UDG Healthcare have surged 20pc today after US private equity giant Clayton, Dubilier and Rice made a £2.6bn offer to buy the health services group. The Dublin-based group is currently leading the FTSE 250 for gains. 09:11 AM Future buys Marie Claire US The magazine publisher behind Country Life has strengthened its foothold in the American market by seizing the women's lifestyle title Marie Claire US, reports my colleague Ben Woods . Future has snapped up the brand from joint owners Marie Claire Album and Hearst Magazines Media through a five-year licensing agreement. The move comes after it sealed a £140m deal last year to buy TI Media, the owner of Marie Claire UK alongside titles such as Cycling Weekly and Woman's Weekly. Future said the takeover "strengthens [its] position in the women's lifestyle vertical in North America in line with the group's strategy to achieve brand vertical leadership across English speaking markets." Marie Claire US has an online audience of 17.5m each month, with around half of its $19.1m (£13.5m) revenues coming from digital. Future has been hoovering up specialist magazines and websites, stripping out the costs and refashioning them as online-focused titles that guide readers towards buying products from ecommerce sites. The company launched a £594m takeover of GoCompare owner GoCo Group in November to bolster its position in the price comparison market. 09:01 AM TUI banks on huge pent-up demand for recovery TUI fly plane arrives at Mahon Airport in Menorca, Balearic Island - DAVID ARQUIMBAU SINTES/EPA-EFE /Shutterstock The world’s biggest tour operator is banking on a travel rebound to restore cash flows after reporting revenue was down 89pc and an operating loss of €1.3bn (£1.1bn) in the six months to March 31. German group TUI reiterated that it will offer 75pc of 2019 capacity in the peak summer months of July through September. However as of May 2, booking levels were down 69pc from the comparable period in 2019. The company’s solvency “could also be jeopardized” if further debt-covenant compliance suspensions can't be obtained, it said. In the following year, loans from Germany’s state-owned KfW fund and revolving credit facilities will have to be refinanced. There is risk that “an extension of the existing financing or further government support measures will therefore be necessary,” TUI said. The company said it has taken 2.6m bookings for summer 2021 so far, describing the figure as indicative of a strong demand trend. It expects Spain's Balearic and Canary islands and Greece to be the most in demand destinations when the travel industry reopens. The company's shares dropped sharply after its financial reports was published this morning. 08:41 AM FTSE creeps back towards 7,000 The FTSE 100 is recovering after yesterday's sell-off, creeping back towards the 7,000 benchmark. At just before 9.45am, the index was trading around 6,988 points. 08:37 AM Softbank profits put tech investor on par with Microsoft, Google A SoftBank sign is displayed on top of a SoftBank mobile phone store on May 11, 2021 in Tokyo, Japan - Yuichi Yamazaki /Getty Images AsiaPac Technology investor SoftBank has reported record annual profits of $45.9bn, the highest ever for a Japanese company, on a par with technology giants Microsoft and Google, reports my colleague Matthew Field . The technology group, which holds stakes in Uber and Alibaba, swung from a loss in its last full financial year to huge paper gains thanks to its holdings in companies such as Doordash, which went public last year. SoftBank has spent much of the last year reorganising its holdings with a giant $23bn share buyback, equivalent to 45pc of its stock, amid pressure from US hedge fund Elliott. That has improved its market cap to over $175bn, with its share price roughly doubling over the past year. SoftBank chief Masayoshi Son had long complained the company's share price has traded far below the value of the assets it owns. At times it has been worth less than the portfolio of its $100bn Vision Fund. SoftBank said it had tripled the amount it had put into its second Vision Fund to $30bn after its gains. It is in the process of selling UK chip firm Arm to US company Nvidia for $40bn. 08:24 AM Revenues tumble by a third at caterer Compass Revenues have tumbled by a third at caterer Compass, as workers stay home. In the six months ending 31 March, the company said today that revenue decreased by 32.4pc as a result of the pandemic, while operating profit decreased 78.3pc. The group continues to lean on government support, it added, such as tax deferrals and staff furlough. Shares however rose 1.9pc on forecasts its fiscal third-quarter margins would improve sequentially, supported by cost-cutting measures, after reporting a slight profit and revenue beat in the first half. 08:10 AM 'A promising sign of things to come', says Sunak Chancellor of the Exchequer Rishi Sunak visiting a holiday park in Denbighshire last week - Phil Noble /PA "Despite a difficult start to this year, economic growth in March is a promising sign of things to come," finance minister Rishi Sunak said in response to the economic data released today. He added: As a result of the actions that we've taken over the past year, we've managed to protect a lot of household incomes. I think that bodes well for the rest of the year. Our plan is working, consumers have built up savings. And what we now know, which we didn't know a year ago, (is) that actually as things open up, people do want to get out and go back to doing the things that they used to do, and I think we will see that in the coming weeks and months. 07:57 AM National Express reports 'improving' performance but only running 13pc of coaches running The coach company reported operating profit was ahead of last year, thanks to actions taken to reduce costs. The first half of the year is expected to be in line with the second half of 2020, the company said, with a bounceback not expected until 2021's second half, once vaccinations increase and more restrictions lift. The UK coach network is currently running at 13pc of pre-Covid mileage with 8pc of 2019's passenger numbers, "Social distancing restrictions remain the key determinant of occupancy levels, with less than half the normal seating capacity available to sell", the company added. 07:41 AM Construction data: Expert reaction Commenting on today's ONS construction figures, showing output grew by 5.8pc in March, Clive Docwra, Managing Director of property and construction consultancy McBains, said: This is further proof of the construction sector’s continuing resurgence, with order books steadily being filled as confidence returns and the industry recovers from the downturn over the previous year. March represents the largest monthly growth since July 2020 when output grew by 17.8pc. Private new housing has been a key driver, and a landmark has been reached with output now above pre-pandemic levels. One slight reservation is that while new contracts continue to come in, construction firms are being squeezed by soaring prices of imported materials, notably concrete, steel and timber. With margins already tight, the rising cost of raw materials threaten to negate any profit gains, so many construction firms remain on a knife-edge. These increasing costs also serve as a warning sign of global inflationary pressures, which could derail any sustained longer term growth. GDP grew 2.1% in March but remains 5.9% below its pre-pandemic peak. Services grew 1.9% (7.2% below), manufacturing grew 2.1% (2.2% below) and construction grew 5.8% (2.4% above) https://t.co/FIpL48Qtxt pic.twitter.com/v1YqGiDNBV — Office for National Statistics (ONS) (@ONS) May 12, 2021 07:26 AM Diageo to return billions to shareholders A bartender takes a bottle of Johnnie Walker whisky at Barmaglot bar in Almaty - SHAMIL ZHUMATOV /REUTERS Drinks giant Diageo is up after a surprise announcement where the company pledged to return billions to shareholders after profit growth was expected to be above 14pc this year. The company behind Johnnie Walker and Smirnoff brands said it would recommence its return of capital programme, with investors to get £1bn in the next two years and £4.5bn by 2024. Chief executive, Ivan Menezes, said: The Board's decision to resume our return of capital programme at this time reflects Diageo's improved performance in the first half of fiscal 21, the continued strong recovery of our business, and our expectation that we will be back within the top end of our target leverage ratio of 2.5-3.0x at 30 June 2022, post completion of the second phase of the return of capital programme. We are confident that Diageo will continue to execute effectively in this challenging environment and will emerge stronger. 07:18 AM FTSE opens up, after strong recovery data The FTSE opened up 0.23pc, after closing at 6,947.99 yesterday. Leading the gains were: Mining company Glencore (up 1.92pc), drinks giant Diageo (up 1.87pc) and foodservice company Compass Group (up 1.70pc). 07:11 AM GDP: More expert reaction With eight separate macros indicators released this morning, Charles Hepworth, Investment Director, GAM Investments, said today was a "a big day for getting a sense of direction of the fortunes for the UK economy": First quarter GDP saw a decline as expected of 1.5pc given the lockdown extensions and curtailment of consumer activity. On the flip side, the economy grew faster than expected in March at 2.1pc and this is setting the scene for a potentially very strong bounce in Q2 of close to 5pc growth, according to some forecasts. Manufacturing production showed a strong increase of 2.1pc over the month of March, almost double estimates and Industrial Production followed with a similar forecast beating 1.8pc advance over the month. This shows the more important rate of change at the back end of the first quarter which is giving direction to where the UK economy might be now – powering back into a strong recovery and getting the justified reward for fast vaccine distribution. A faster recovery changes the dynamic of central bank rate decisions and gilt yields are seeing a drift higher this morning as the prospect of negative rates is further removed from their outlook. 06:52 AM GDP: expert reaction Here’s some reaction to today’s better-than-expected growth figures. Yael Selfin from KPMG said the data “underscores the resilience of the UK economy”, adding: While the UK economy contracted by 1.5pc in the first quarter of 2021, the fall was paltry in comparison with the contraction during the first lockdown last year, highlighting the speed by which the economy has managed to adapt to social distancing restrictions. Capital Economics’ Ruth Gregory called the 2.1pc March expansion “impressive”, saying it could mean the recovery is even quicker than hoped: The burst of growth in March shows that the recovery has been gathering momentum more quickly than we had thought and suggests that the risks to our forecast for the economy to return to its February 2020 level by the end of 2021 are to the upside…We expect second and third quarter GDP growth to be between 3.0-3.5pc q/q and for the economy to return to its February level before the end of the year. If anything, these figures suggest that the economy could regain its pre-crisis level even sooner. Rory Macqueen, principal economist at NIESR, said the stage is now set for a stronger rebound during the second quarter (April to June): A contraction of 1.5 per cent is in line with our forecast for the first quarter of the year, underlining the extent to which the economy has adapted to deal with the latest national lockdown. This has provided a better start to 2021 than anticipated at the beginning of the year and we expect it to contribute to a strong rebound in the second quarter, as the economy opens up, consistent with our year-on-year growth forecast of 5.7 per cent in 2021. As expected with many children returning to school, the education sector provided the largest contribution to growth in March. There were also significant contributions from the retail sector and from testing and vaccination programmes in the health and social care sector. 06:47 AM Trade figures: more detail Here’s an interactive breakdown of those trade figures, showing a pretty strong recovery in exports, but an altogether less convincing shift in imports from the bloc: Interestingly, those divergent recoveries defy the situation on the ground, which is that UK exporters are facing new barriers ( read more here ), while the UK doesn’t plan to enforce new rules until October 1st. The reasons for that remain the subject of speculation at the moment, but here are a few possible explanation: EU companies are nervous about exporting to the UK at present, so may have paused such operations UK companies are still burning through pre-Brexit stockpiles UK companies have already chosen to pivot more towards domestic sourcing 06:34 AM UK remains among hardest-hit by pandemic An international comparison shows the UK remains alongside Spain as one of the worst-hit global economies from the the pandemic. In both cases, that’s because of the prominence of the consumer-facing service sector. In nominal terms (not adjusted for inflation), the reading is rather different, however, and the subtleties of the UK’s GDP measurement approach means that an especially sharp fall may be followed by an especially quick recovery. If you want the fully wonkery, read this from the ONS . 06:28 AM Education drives service output rise in March The reopening of schools in March provided a big boost to output growth in the services sector, making up over a quarter of a 1.9pc rise during the month. Conversely, if you take a quarter-level view, education was the biggest factor in the service decline – as ever, it can be those areas that witness the sharpest contractions that make the quickest recoveries. The ONS notes output across the services sector – by far the UK’s most important economic sector – is still 7.2pc below pre-pandemic levels. Meanwhile, manufacturing output rose by 2.1pc in March, the fastest pace since July 2020. 06:18 AM Global imports top EU for first time An interesting nugget from the ONS’s trade release ( which you can read here ): Quarter 1 2021 is the first quarter since records began in January 1997 that imports of goods from non-EU countries are higher than from EU countries. However, with only one quarter of data available, and the ongoing pandemic and recession, it is too early to assess the extent to which this reflects short-term trade disruption or longer-term supply chain adjustments. We will continue to assess this over the coming months. Commenting on today’s trade figures, Darren Morgan said: pic.twitter.com/2M7OlnRHAa — Office for National Statistics (ONS) (@ONS) May 12, 2021 06:16 AM EU trade recovery continues UK goods trade with the EU continued to recover towards pre-Brexit levels during March, but imports in particular remain markedly lower than 2020 levels. Cars were key to the increases, the ONS says: Exports and imports of goods with the EU, excluding precious metals, increased by £1.0bn (8.6pc) and £0.8bn (4.5pc) respectively in March 2021; both driven by cars. Here’s how the figures have shifted: 06:13 AM Construction grows as other sectors struggle Data for the whole quarterly shows a mild dip in production output, while services suffered the most heavily. In comparison, construction was able to continue its output expansion. 06:08 AM Picking up pace? After extremely tepid growth during February of just 0.4pc, that 2.1pc expansion for March is an encouraging sign. Those wishing for a quick and full recovery (who isn’t?) will be hoping that the pace increases further when April’s data comes in, reflecting continued loosening of restrictions and the return of non-essential retail. 06:05 AM How GDP has shifted Looking at GDP as an index, you can see just how mild the drop during the first quarter was – but output still has a long way to go to recover the plunge seen last year. Output remains 5.9pc below the levels seen in February 2020. 06:01 AM Growth stronger than expected The UK economy grew by 2.1pc during March, according to the ONS, leaving output only 1.5pc smaller over the quarter – better than expected on both counts. 05:54 AM GDP: What experts expect today Consensus among economists suggests the economy shrank 1.6pc during the first three months of the year, mainly reflecting a decline in services activity as tight new restrictions took effect. Compared to the plunge seen during the first lockdown last spring, however, it’s a negligible drop. GDP is expected to have risen 1.4pc during March. Capital Economics think momentum could continue to build during April: Now that the COVID-19 restrictions are being removed, it looks as though the rebound in activity may be even faster than we expected. We estimate that the reopening in schools drove a 1.5pc m/m rise in GDP in March and that the reopening of non-essential retailers/hospitality in April and May might lead to bigger gains. Pantheon Macroeconomics’ Samuel Tombs is a bit more cautious about April’s data, after looking at card spending data from the Bank of England: The BoE’s daily CHAPS payments data indicate that retail sales fell back towards the end of April, suggesting that pent-up demand has quickly washed through. For now, then, we are still not seeing signs that households are about to embark on a multi- month spending spree with their accumulated savings that would cause the economy to overheat. From a markets perspective, there’s likely to be less interest in these start-of-year figures than those towards the end of the year, when predictions that the UK will undergo a period of strong growth will be put to the test. The Bank of England reckons output could be back to pre-pandemic levels by the end of 2021, but analysts at the National Institute of Economic and Social Research are more sceptical. Here’s more from my colleague Tim Wallace : Weaker worldwide growth will hold back the UK's open and trade-dependent economy, the analysts predict, with sustained travel restrictions proving particularly painful. At the same time families will be more cautious about spending their lockdown savings or returning to their old financial habits, the economists warn, and will hold back more cash than they used to, also limiting the economic rebound. 05:44 AM Agenda: First quarter should be stronger than feared Good morning. We’ll get data for UK growth during March at 7am, which will complete the Office for National Statistics’ estimates for the first quarter of the year. The consensus is for a 1.7pc quarter-on-quarter fall, showing the UK economy re-entered a contraction amid widespread restrictions. Still, the drop will be far smaller than initially feared. Alongside growth, we’ll also get trade data, which is expected to show a continued recovery in UK exports during March. Later on, however, is the big event: US inflation data, which will confirm whether the world’s biggest economy is heating up at a fast enough rate to cause concern. 5 things to start your day 1) Inflation threat sparks global stock market sell-off : FTSE 100 falls 175 points as investors await crucial price data from the US today amid fears world's biggest economy is overheating. 2) New concern over HS2 leg to Leeds : Campaigners have urged the PM not to abandon a high-speed rail link leg to Leeds after the Queen’s Speech stoked fresh fears it could be axed. 3) Activists sue Government over North Sea oil and gas drilling : Climate campaigners have launched a High Court battle against the Government over its support for North Sea oil and gas drilling. 4) Goldman banker 'quits after making millions from Dogecoin' : Aziz McMahon resigned after benefiting from the joke digital currency’s meteoric growth this year surpassing that of any other cryptocurrency. 5) How Hitachi's plan to replace UK's train fleet went off the rails : The cracks discovered on the Japanese company’s Azuma trains are the latest in a litany of problems. What happened overnight Asian shares fell for a second straight session on Wednesday to one-month lows as investors speculated surging commodity prices and growing inflationary pressure in the US could lead to earlier rate hikes and higher bond yields globally. MSCI’s broadest index of Asia-Pacific shares outside Japan faltered 0.5pc, after tumbling 1.6pc on Tuesday for its biggest daily percentage drop since March 24. At 682 points, the regional index is not too far from a record high of 745.89 touched in February and is still up 3pc this year so far, on top of a 19pc jump in 2020 and a near 16pc rise in 2019. Shares in China opened in the red, with the blue-chip index off 0.2pc. Australian stocks slipped 0.6pc while South Korea's KOSPI index skidded 0.7pc. Japan's Nikkei reversed early gains to be down 0.4pc. Analysts, however, doubted the sell-off would extend much further in a world of easy accommodative policy and fiscal largesse. Coming up today Corporate: Investec (Full year); Compass Group, Tui, Airtel Africa (Interim results); Coca-Cola HBC, National Express, Marshalls, TI Fluid Systems, Spirax- Sarco (Trading update) Economics: Trade balance, industrial, manufacturing and construction output, GDP (UK), consumer price index (Ger), industrial production (EU) || Top Analyst Reports for Exxon Mobil, AbbVie & Citigroup: Tuesday, May 11, 2021 The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 16 major stocks, including Exxon Mobil Corp. (XOM), AbbVie Inc. (ABBV) and Citigroup Inc. (C). These research reports have been hand-picked from the roughly 70 reports published by our analyst team today. You can see all of today’s research reports here >>> Shares of Exxon Mobil have gained +51.8% over the year-to-date period against the Zacks Integrated Oil industry’s gain of +28.3%. The Zacks analyst believes that ExxonMobil's bellwether status and an optimal integrated capital structure that has historically produced industry-leading returns, make it a relatively lower-risk energy sector play. Notably, the firm estimates gross recoverable resource of nearly 9 billion oil-equivalent barrels from its offshore Guyana discoveries. As compared to 2019, this firm projects annual structural expense savings of $6 billion by 2023, aiding the bottom line. Also, ExxonMobil has significantly lower debt exposure as compared to other integrated majors. It reported strong first-quarter earnings thanks to improved realized commodity prices. However, a lower fuel margin is keeping its downstream unit under pressure. Also, the pandemic affecting major economies around the world will likely keep energy demand low. This will, in turn, hurt the company's bottom line. (You can read the full research report on Exxon Mobil here >>> ) Shares of AbbVie have outperformed the Zacks Large Cap Pharmaceuticals industry over the year-to-date period (+8.5% vs +5.1%). The Zacks analyst believes that AbbVie’s key drug, Humira will continue to see strong demand trends in the United States. AbbVie has been successful in expanding labels of its cancer drugs, Imbruvica and Venclexta. It has an impressive late-stage pipeline with several early/mid-stage candidates that have blockbuster potential. Its two new immunology drugs, Skyrizi and Rinvoq, are performing beyond expectations. Story continues However, sales erosion due to direct biosimilar competition to Humira in international markets is a big headwind. Also, the decline in HCV drug Mavyret’s sales is a concern. (You can read the full research report on AbbVie here >>> ) Shares of Citigroup have outperformed the Zacks Banks - Major Regional industry over the last six-month period (+55.6% vs. +52.7%). The Zacks analyst believes that the company’s first-quarter 2021 results reflect strong capital markets performance and reserve releases. Citigroup’s streamlining efforts, along with strategic investments in core business, bode well. Also, net interest revenues are likely to be supported by loan growth and mix, despite the low interest rate environment. Further, manageable debt level makes it less likely to default interest and debt repayment obligations in case of any economic downturn. However, pending litigation issues might keep legal expenses elevated for the company. Additionally, a subdued consumer banking business might dent fee income base to some extent. (You can read the full research report on Citigroup here >>> ) Other noteworthy reports we are featuring today include Alphabet Inc. (GOOGL), Altria Group, Inc. (MO) and Micron Technology, Inc. (MU). Bitcoin, Like the Internet Itself, Could Change Everything Blockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities. Zacks’ has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly. See 3 crypto-related stocks now >> Mark Vickery Senior Editor Note: Sheraz Mian heads the Zacks Equity Research department and is a well-regarded expert of aggregate earnings. He is frequently quoted in the print and electronic media and publishes the weekly Earnings Trends and Earnings Preview reports. If you want an email notification each time Sheraz publishes a new article, please click here>>> Today's Must Read ExxonMobil (XOM) to Gain Huge Cash Flows From Guyana Finds AbbVie's (ABBV) Pipeline Solid; Skyrizi, Rinvoq Shine Streamlining Efforts Aid Citi (C) Amid Falling Fee Income Featured Reports Copa Holdings (CPA) Benefits From Reduced Operating Costs Per the Zacks analyst, significant reduction in operating expenses as a result of decline in passenger servicing and fuel costs is partly offsetting the coronavirus-led adversities. Solid Pricing Aids Altria (MO) Amid Weak Cigarette Volumes Per the Zacks analyst, Altria has been gaining on its solid pricing, which aided the company in first quarter. This also offers cushion amid weak cigarette volumes stemming from stern regulations. Micron (MU) Benefits from Growing Memory-Chip Demand Per the Zacks analyst, Micron is growing on solid memory-chip demand from PC manufacturers and data-center operators as the COVID-19 pandemic has boosted the work-and-learn-from-home trend. Increasing Transaction Fees Aid Cboe Global Markets (CBOE) Per the Zacks analyst, Cboe Global is poised to grow on rising transaction fees driven by trading volume growth as well as non-transactional revenues. Omnicell's (OMCL) Elective Surgery Resumption Aids Growth The Zacks Analyst is optimistic about Omnicell on gradual resumption of elective surgeries that has led to a record growth in the company's number of long-term sole-source contracts. Jacobs (J) Backlog & Acquisitions Solid Amid High Labor Cost Per the Zacks analyst, strong segmental performances, solid backlog and accretive acquisitions are likely to drive Jacobs' business. Alphabet (GOOGL) Benefits From Cloud & Search Initiatives Per the Zacks analyst, Alphabet's cloud arm is riding on expanding data centers and regions. Further, improving search results driven by major search updates and elimination of bad ads are positives. New Upgrades Exploration Progress, Debt Reduction to Aid Freeport (FCX) According to the Zacks analyst, Freeport will benefit from its progress in exploration activities to expand production capacity and efforts to deleverage its balance sheet. Favorable Demand, Acquisitions Aid International Paper (IP) The Zacks analyst expects International Paper to gain from elevated packaging demand. Focus on strategic acquisitions in a bid to strengthen its packaging business will also aid growth. Network Strength & Customer Growth Aid U.S. Cellular (USM) Per the Zacks analyst, U.S. Cellular is poised to benefit from its network modernization program, adding capacity and speed while launching 5G services commercially, and VoLTE in the remaining markets New Downgrades Lilly's (LLY) COVID-19 Antibody Drug Sees Lower Demand The Zacks analyst says that Lilly saw lower than expected revenues from its COVID-19 antibody drug, bamlanivimab due to lower demand which compelled the company to cut its 2021 sales/earnings outlook Low Volumes, Regulations Ail Plains All American (PAA) Per the Zacks analyst, Plains All American's (PAA) results are impacted by low tariff volumes in its pipelines and adherence of stringent regulations could increase cost and lower profitability. High Costs, Rivalry Hurt Telephone and Data Systems (TDS) Per the Zacks analyst, apart from intense competition, Telephone and Data Systems is challenged by increasing costs associated with network integration and wireless technology upgrades. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Exxon Mobil Corporation (XOM) : Free Stock Analysis Report Micron Technology, Inc. (MU) : Free Stock Analysis Report Altria Group, Inc. (MO) : Free Stock Analysis Report Alphabet Inc. (GOOGL) : Free Stock Analysis Report Citigroup Inc. (C) : Free Stock Analysis Report AbbVie Inc. (ABBV) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research || Top Analyst Reports for Exxon Mobil, AbbVie & Citigroup: The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 16 major stocks, including Exxon Mobil Corp. (XOM), AbbVie Inc. (ABBV) and Citigroup Inc. (C). These research reports have been hand-picked from the roughly 70 reports published by our analyst team today.
You can seeall of today’s research reports here >>>
Shares ofExxon Mobilhave gained +51.8% over the year-to-date period against the Zacks Integrated Oil industry’s gain of +28.3%. The Zacks analyst believes that ExxonMobil's bellwether status and an optimal integrated capital structure that has historically produced industry-leading returns, make it a relatively lower-risk energy sector play.
Notably, the firm estimates gross recoverable resource of nearly 9 billion oil-equivalent barrels from its offshore Guyana discoveries. As compared to 2019, this firm projects annual structural expense savings of $6 billion by 2023, aiding the bottom line. Also, ExxonMobil has significantly lower debt exposure as compared to other integrated majors. It reported strong first-quarter earnings thanks to improved realized commodity prices.
However, a lower fuel margin is keeping its downstream unit under pressure. Also, the pandemic affecting major economies around the world will likely keep energy demand low. This will, in turn, hurt the company's bottom line.
(You canread the full research report on Exxon Mobil here >>>)
Shares ofAbbViehave outperformed the Zacks Large Cap Pharmaceuticals industry over the year-to-date period (+8.5% vs +5.1%). The Zacks analyst believes that AbbVie’s key drug, Humira will continue to see strong demand trends in the United States.
AbbVie has been successful in expanding labels of its cancer drugs, Imbruvica and Venclexta. It has an impressive late-stage pipeline with several early/mid-stage candidates that have blockbuster potential. Its two new immunology drugs, Skyrizi and Rinvoq, are performing beyond expectations.
However, sales erosion due to direct biosimilar competition to Humira in international markets is a big headwind. Also, the decline in HCV drug Mavyret’s sales is a concern.
(You canread the full research report on AbbVie here >>>)
Shares ofCitigrouphave outperformed the Zacks Banks - Major Regional industry over the last six-month period (+55.6% vs. +52.7%). The Zacks analyst believes that the company’s first-quarter 2021 results reflect strong capital markets performance and reserve releases.
Citigroup’s streamlining efforts, along with strategic investments in core business, bode well. Also, net interest revenues are likely to be supported by loan growth and mix, despite the low interest rate environment. Further, manageable debt level makes it less likely to default interest and debt repayment obligations in case of any economic downturn.
However, pending litigation issues might keep legal expenses elevated for the company. Additionally, a subdued consumer banking business might dent fee income base to some extent.
(You canread the full research report on Citigroup here >>>)
Other noteworthy reports we are featuring today include Alphabet Inc. (GOOGL), Altria Group, Inc. (MO) and Micron Technology, Inc. (MU).
Blockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities.
Zacks’ has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly.
See 3 crypto-related stocks now >>
Mark VickerySenior Editor
Note: Sheraz Mian heads the Zacks Equity Research department and is a well-regarded expert of aggregate earnings. He is frequently quoted in the print and electronic media and publishes the weeklyEarnings TrendsandEarnings Previewreports. If you want an email notification each time Sheraz publishes a new article, pleaseclick here>>>
ExxonMobil (XOM) to Gain Huge Cash Flows From Guyana Finds
AbbVie's (ABBV) Pipeline Solid; Skyrizi, Rinvoq Shine
Streamlining Efforts Aid Citi (C) Amid Falling Fee Income
Copa Holdings (CPA) Benefits From Reduced Operating Costs
Per the Zacks analyst, significant reduction in operating expenses as a result of decline in passenger servicing and fuel costs is partly offsetting the coronavirus-led adversities.
Solid Pricing Aids Altria (MO) Amid Weak Cigarette Volumes
Per the Zacks analyst, Altria has been gaining on its solid pricing, which aided the company in first quarter. This also offers cushion amid weak cigarette volumes stemming from stern regulations.
Micron (MU) Benefits from Growing Memory-Chip Demand
Per the Zacks analyst, Micron is growing on solid memory-chip demand from PC manufacturers and data-center operators as the COVID-19 pandemic has boosted the work-and-learn-from-home trend.
Increasing Transaction Fees Aid Cboe Global Markets (CBOE)
Per the Zacks analyst, Cboe Global is poised to grow on rising transaction fees driven by trading volume growth as well as non-transactional revenues.
Omnicell's (OMCL) Elective Surgery Resumption Aids Growth
The Zacks Analyst is optimistic about Omnicell on gradual resumption of elective surgeries that has led to a record growth in the company's number of long-term sole-source contracts.
Jacobs (J) Backlog & Acquisitions Solid Amid High Labor Cost
Per the Zacks analyst, strong segmental performances, solid backlog and accretive acquisitions are likely to drive Jacobs' business.
Alphabet (GOOGL) Benefits From Cloud & Search Initiatives
Per the Zacks analyst, Alphabet's cloud arm is riding on expanding data centers and regions. Further, improving search results driven by major search updates and elimination of bad ads are positives.
Exploration Progress, Debt Reduction to Aid Freeport (FCX)
According to the Zacks analyst, Freeport will benefit from its progress in exploration activities to expand production capacity and efforts to deleverage its balance sheet.
Favorable Demand, Acquisitions Aid International Paper (IP)
The Zacks analyst expects International Paper to gain from elevated packaging demand. Focus on strategic acquisitions in a bid to strengthen its packaging business will also aid growth.
Network Strength & Customer Growth Aid U.S. Cellular (USM)
Per the Zacks analyst, U.S. Cellular is poised to benefit from its network modernization program, adding capacity and speed while launching 5G services commercially, and VoLTE in the remaining markets
Lilly's (LLY) COVID-19 Antibody Drug Sees Lower Demand
The Zacks analyst says that Lilly saw lower than expected revenues from its COVID-19 antibody drug, bamlanivimab due to lower demand which compelled the company to cut its 2021 sales/earnings outlook
Low Volumes, Regulations Ail Plains All American (PAA)
Per the Zacks analyst, Plains All American's (PAA) results are impacted by low tariff volumes in its pipelines and adherence of stringent regulations could increase cost and lower profitability.
High Costs, Rivalry Hurt Telephone and Data Systems (TDS)
Per the Zacks analyst, apart from intense competition, Telephone and Data Systems is challenged by increasing costs associated with network integration and wireless technology upgrades.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportExxon Mobil Corporation (XOM) : Free Stock Analysis ReportMicron Technology, Inc. (MU) : Free Stock Analysis ReportAltria Group, Inc. (MO) : Free Stock Analysis ReportAlphabet Inc. (GOOGL) : Free Stock Analysis ReportCitigroup Inc. (C) : Free Stock Analysis ReportAbbVie Inc. (ABBV) : Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research || Boxing Star Floyd Mayweather Launches NFTs This Month: World-famous boxer Floyd Mayweather will release his blockchain non-fungible tokens (NFTs) later this month.
What Happened:Mayweather isreleasing his NFTson May 26, partnering with digital asset companies IronBend, Reality Gaming Group, and Zytara Labs.
The tokens will be released ahead of Mayweather's fight with YouTuber-turned-boxer Logan Paul on June 6.
Mayweather's NFTs will feature animations, artwork, and memorabilia involving his life and career, as well as memorabilia from his personal keepsakes.
It will be a collection of 5 NFTs as well as a rare one-of-a-kind token.
Why It Matters:Mayweather is not new to the cryptocurrency space, considering that he promoted numerous initial coin offerings (the crypto equivalent of an IPO) during their highest craze in 2017.
Multiple people involved in the offerings promoted by him were indicted and evensentenced to years in prisonfor their fraudulent schemes.
See also:Best NFT Related Stocks
NFTs are different from most tokens orBitcoin(CRYPTO: BTC) because there are no two that are the same, making them a great way to ensure scarcity of digital collectibles or digitized representations of physical goods.
Image: rcelis via WikiCommons
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• Why Ethereum Is Breaking Records
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Boxing Star Floyd Mayweather Launches NFTs This Month: World-famous boxer Floyd Mayweather will release his blockchain non-fungible tokens (NFTs) later this month. What Happened: Mayweather is releasing his NFTs on May 26, partnering with digital asset companies IronBend, Reality Gaming Group, and Zytara Labs. The tokens will be released ahead of Mayweather's fight with YouTuber-turned-boxer Logan Paul on June 6. Mayweather's NFTs will feature animations, artwork, and memorabilia involving his life and career, as well as memorabilia from his personal keepsakes. It will be a collection of 5 NFTs as well as a rare one-of-a-kind token. Why It Matters: Mayweather is not new to the cryptocurrency space, considering that he promoted numerous initial coin offerings (the crypto equivalent of an IPO) during their highest craze in 2017. Multiple people involved in the offerings promoted by him were indicted and even sentenced to years in prison for their fraudulent schemes. See also: Best NFT Related Stocks NFTs are different from most tokens or Bitcoin (CRYPTO: BTC) because there are no two that are the same, making them a great way to ensure scarcity of digital collectibles or digitized representations of physical goods. Image: rcelis via WikiCommons See more from Benzinga Click here for options trades from Benzinga New Doge? Shiba Inu's (SHIB) Price Grows By 150% As Major Crypto Exchanges List It Why Ethereum Is Breaking Records © 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Stock Market Today: Big Tech Bounce Can't Save Dow: Concept art of cloud companies Getty Images Tuesday looked like it would be another nasty day for tech stocks, with the Nasdaq Composite plunging more than 2% in early trading. However, the index pared nearly all of these losses – and made a brief push into positive territory – as bargain hunters swooped in. Cloud stocks in particular benefited from the buy-the-dip trade, swinging higher after a negative start. Among notable gainers in this corner of the tech sphere were Twilio ( TWLO , +3.9%), Amazon.com ( AMZN , +1.1%) and CrowdStrike ( CRWD , +4.0%). SEE MORE Get Weekly Dividends With SoFi's New WKLY ETF But while the Nasdaq finished down just 0.1% at 13,389, the Dow Jones Industrial Average suffered a much worse fate, slumping 1.4% to 34,269 on weakness in energy stock Chevron ( CVX , -2.6%) and consumer discretionary name Home Depot ( HD , -3.1%). "What started in technology earlier this month has finally moved over to the broader markets," says Ryan Detrick, chief market strategist for LPL Financial. "Although we are coming off a record earnings season, continued supply chain and labor shortages are adding to potential inflationary pressures." "Given that equity markets are still in shouting distance of all-time highs, it is not surprising to see investors hit pause and evaluate the various catalysts for the next move higher in stock prices," adds Brian Price, head of investment management for Commonwealth Financial Network. "For the time being, I think that investors may remain on edge until there is more certainty from Washington regarding fiscal policy. Sign up for Kiplinger's FREE Investing Weekly e-letter for stock, ETF and mutual fund recommendations, and other investing advice. Other action in the stock market today: The S&P 500 fell again, off 0.9% to 4,152. The small-cap Russell 2000 suffered only minor damage, declining 0.3% to 2,206. Palantir Technologies ( PLTR , +9.4%) got a big earnings boost today. The data analytics firm said revenues surged 49% in its first quarter to $341 million – more than analysts were expecting – while adjusted earnings of 4 cents per share matched forecasts. Novavax ( NVAX , -13.9%) took a hit today after the drugmaker said it will not seek regulatory approval for its COVID-19 vaccine in the U.S., U.K. and Europe until the third quarter of this year – later than initially expected. NVAX also said it will not meet its goal of producing 150 million shots per month until the fourth quarter, missing its initial third-quarter target. U.S. crude oil futures rose nearly 0.6% to settle at $65.28 per barrel. Gold futures finished fractionally lower at $1,836.10 an ounce. The CBOE Volatility Index (VIX) made another big move higher, gaining 9.5% to 21.53. Bitcoin prices recovered 1.5% to $56,706.75. (Bitcoin trades 24 hours a day; prices reported here are as of 4 p.m. each trading day.) Story continues stock chart for 051121 YCharts Stick to Stocks With Core Financial Strength There's a simple explanation for the recent weakness in tech: froth. At least that's according to David Bahnsen, chief investment officer at The Bahnsen Group. SEE MORE 5 Pick-and-Shovel Solar Stocks for the Green Energy Gold Rush "When a stock's gain becomes dependent on multiple expansion that is driven by a constant flow of new money, new momentum and new popularity, eventually the game ends," Bahnsen says. "Given the froth in tech stocks, investing in cash-generating companies with strong balance sheets is more important than ever." Good advice, given that cash can make investments shine for a litany of reasons. Cash helps growth companies fuel the R&D necessary to keep them among the world’s top innovators . It also can help more established companies pay secure (and steadily rising) dividends over time . And these battleship balance sheets aren’t too difficult to find – as we’ve compiled and reviewed a full 25 of them for you. If you’re looking for a who’s who of companies with A+ financials, and thus plenty of resources to hurdle whatever obstacles the market throws their way, read on as we highlight 25 blue chips that fit the bill . Karee Venema was long PLTR as of this writing. SEE MORE The 21 Best Stocks to Buy for 2021 || Stock Market Today: Big Tech Bounce Can't Save Dow: Concept art of cloud companies Getty Images Tuesday looked like it would be another nasty day for tech stocks, with the Nasdaq Composite plunging more than 2% in early trading. However, the index pared nearly all of these losses – and made a brief push into positive territory – as bargain hunters swooped in. Cloud stocks in particular benefited from the buy-the-dip trade, swinging higher after a negative start. Among notable gainers in this corner of the tech sphere were Twilio ( TWLO , +3.9%), Amazon.com ( AMZN , +1.1%) and CrowdStrike ( CRWD , +4.0%). SEE MORE Get Weekly Dividends With SoFi's New WKLY ETF But while the Nasdaq finished down just 0.1% at 13,389, the Dow Jones Industrial Average suffered a much worse fate, slumping 1.4% to 34,269 on weakness in energy stock Chevron ( CVX , -2.6%) and consumer discretionary name Home Depot ( HD , -3.1%). "What started in technology earlier this month has finally moved over to the broader markets," says Ryan Detrick, chief market strategist for LPL Financial. "Although we are coming off a record earnings season, continued supply chain and labor shortages are adding to potential inflationary pressures." "Given that equity markets are still in shouting distance of all-time highs, it is not surprising to see investors hit pause and evaluate the various catalysts for the next move higher in stock prices," adds Brian Price, head of investment management for Commonwealth Financial Network. "For the time being, I think that investors may remain on edge until there is more certainty from Washington regarding fiscal policy. Sign up for Kiplinger's FREE Investing Weekly e-letter for stock, ETF and mutual fund recommendations, and other investing advice. Other action in the stock market today: The S&P 500 fell again, off 0.9% to 4,152. The small-cap Russell 2000 suffered only minor damage, declining 0.3% to 2,206. Palantir Technologies ( PLTR , +9.4%) got a big earnings boost today. The data analytics firm said revenues surged 49% in its first quarter to $341 million – more than analysts were expecting – while adjusted earnings of 4 cents per share matched forecasts. Novavax ( NVAX , -13.9%) took a hit today after the drugmaker said it will not seek regulatory approval for its COVID-19 vaccine in the U.S., U.K. and Europe until the third quarter of this year – later than initially expected. NVAX also said it will not meet its goal of producing 150 million shots per month until the fourth quarter, missing its initial third-quarter target. U.S. crude oil futures rose nearly 0.6% to settle at $65.28 per barrel. Gold futures finished fractionally lower at $1,836.10 an ounce. The CBOE Volatility Index (VIX) made another big move higher, gaining 9.5% to 21.53. Bitcoin prices recovered 1.5% to $56,706.75. (Bitcoin trades 24 hours a day; prices reported here are as of 4 p.m. each trading day.) Story continues stock chart for 051121 YCharts Stick to Stocks With Core Financial Strength There's a simple explanation for the recent weakness in tech: froth. At least that's according to David Bahnsen, chief investment officer at The Bahnsen Group. SEE MORE 5 Pick-and-Shovel Solar Stocks for the Green Energy Gold Rush "When a stock's gain becomes dependent on multiple expansion that is driven by a constant flow of new money, new momentum and new popularity, eventually the game ends," Bahnsen says. "Given the froth in tech stocks, investing in cash-generating companies with strong balance sheets is more important than ever." Good advice, given that cash can make investments shine for a litany of reasons. Cash helps growth companies fuel the R&D necessary to keep them among the world’s top innovators . It also can help more established companies pay secure (and steadily rising) dividends over time . And these battleship balance sheets aren’t too difficult to find – as we’ve compiled and reviewed a full 25 of them for you. If you’re looking for a who’s who of companies with A+ financials, and thus plenty of resources to hurdle whatever obstacles the market throws their way, read on as we highlight 25 blue chips that fit the bill . Karee Venema was long PLTR as of this writing. SEE MORE The 21 Best Stocks to Buy for 2021 || The SPY Was Down Today. Here's Why.: U.S. indices traded lower Tuesday amid a continued sell-off in equities, driven by selling in growth stocks and technology stocks. Inflation concerns have also weighed on stocks and further pressured growth sectors.
• TheSPDR S&P 500 ETF Trust(NASDAQ:SPY) finished lower by 0.89% at $414.21.
• TheInvesco QQQ Trust Series 1(NASDAQ:QQQ) fell by 0.14% at $325.31.
• TheSPDR Dow Jones Industrial Average ETF Trust(NASDAQ:DIA) finished lower by 1.39% at $342.91.
Here are the day's winners and losers from the SPY, according to data fromBenzinga Pro.
Leaders for the S&P 500 wereEnphase Energy Inc(NASDAQ:ENPH),Paypal Holdings Inc(NASDAQ:PYPL) andTwitter Inc(NYSE:TWTR).
Hanesbrands Inc.(NYSE:HBI),Occidental Petroleum Corporation(NYSE:OXY) andHP Inc(NYSE:HPQ) were among the largest losers.
Elsewhere On The Street
Data analytics companyPalantir Technologies Inc.(NYSE:PLTR) is the latest public company to embrace Bitcoin. Palantir, which reported forecast-beating first-quarter revenue Tuesday and in-line earnings per share, said on its earnings call that it will acceptBitcoin(CRYPTO: BTC) as payment from customers...Read More
Neuberger Berman's Dan Flax talked Tuesday about three growth stocks in particular that he thinks are well-positioned in the long term on CNBC's "Squawk Box." Rising interest rates will be a concern for growth stocks in the near term, but longer-term secular trends around the buildout of digital infrastructure remain healthy, Flax said...Read More
A leading retailer of home, fragrance and women’s lingerie and beauty products has announced a spinoff intended to unlock shareholder value. Here’s what investors should know about the spinoff of Victoria’s Secret business fromL Brands(NYSE:LB)...Read More
See more from Benzinga
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• Tesla, Qualcomm Plummet, Lead QQQ Sharply Lower Monday
• Nike And Disney Lead The Dow Jones Higher To Close The Week
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
[Social Media Buzz]
None available.
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49716.19, 49880.54, 46760.19, 46456.06, 43537.51, 42909.40, 37002.44, 40782.74, 37304.69, 37536.63
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Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 247.85, 253.72, 273.47, 263.48, 233.91, 233.51, 226.43, 217.46, 226.97, 238.23, 227.27, 226.85, 217.11, 222.27, 227.75, 223.41, 220.11, 219.84, 219.18, 221.76, 235.43, 257.32, 234.82, 233.84, 243.61, 236.33, 240.28, 243.78, 244.53, 235.98, 238.89, 238.74, 237.47, 236.43, 253.83, 254.26, 260.20, 275.67, 281.70, 273.09, 276.18, 272.72, 276.26, 274.35, 289.61, 291.76, 296.38, 294.35, 285.34, 281.89, 286.39, 290.59, 285.51, 256.30, 260.93, 261.75, 260.02, 267.96, 266.74, 245.60, 246.20, 248.53, 247.03, 252.80, 242.71, 247.53, 244.22, 247.27, 253.01, 254.32, 253.70, 260.60, 255.49, 253.18, 245.02, 243.68, 236.07, 236.55, 236.15, 224.59, 219.16, 223.83, 228.57, 222.88, 223.36, 222.60, 224.63, 235.27, 234.18, 236.46.
|
[Bitcoin Technical Analysis for 2015-04-23]
Volume: 17036000, RSI (14-day): 48.38, 50-day EMA: 244.83, 200-day EMA: 269.42
[Wider Market Context]
Gold Price: 1194.40, Gold RSI: 49.32
Oil Price: 57.74, Oil RSI: 65.40
[Recent News (last 7 days)]
Trading Internet earnings: 7 plays on mainstays: Facebook (NASDAQ: FB) reeled after earnings on Wednesday, but some CNBC "Fast Money" traders would be quick to scoop up the stock. The social media giant dropped 2 percent in extended trading after it reported first-quarter revenue that missed analysts' expectations. But as the company's monthly active users in March rose 13 percent year-over-year, to 1.44 billion, trader Brian Kelly would buy on the slide. "If you can't monetize that, then you really shouldn't be in any type of business whatsoever. So, on weakness, you buy Facebook," Kelly said. Read More Facebook user growth crushes estimates Trader Pete Najarian agreed that the stock has upside. "I think tomorrow morning, as the dust settles, we're going to start to see really what the direction of Facebook is going to be," he said. But trader Dan Nathan expressed more skepticism. He noted that user growth and ad revenue on mobile platforms may start to reach a saturation point. He said he preferred Google stock to Facebook. EBay (NASDAQ: EBAY) -another Internet name that reported on Wednesday-soared in extended trading. The company beat Wall Street's earnings and revenue expectations, driven by strong growth in its PayPal service. Read More EBay jumps after beating Street on profit, revenue The stock popped 5 percent in after-hours to roughly $60 per share. Trader Guy Adami believes eBay shares could "make the push to the next level." The company also said the previously announced split of eBay and PayPal into separate publicly traded companies would take place in the third quarter. Nathan noted that he would look to take a long position in an independent PayPal and short eBay, as its core marketplace segment fell off 4 percent year-over-year. Disclosures: Pete Najarian Pete Najarian is long AMAT, AAPL, BABA, BAC, BMY, BP, CSX, DISCA, FOXA, GE, KKR, KO, LLY, LOCO, MBLY, MRK, PEP and PFE. He is long calls AAPL, BK, DAL, EBAY, EEM, F, FB, FL, GE, GS, HZNP, IMAX, JBLU, KO, MAC, MYL, NEE, NTAP, OC, PBR, PFE, RAD, SYY, TEVA, TSX, UA, UAL, VZ, XLF, XOM and ZIOP. Today, he bought IMAX calls. Today, he bought EBAY calls. Today, he sold AMGN calls. Today, he bought AAPL calls. Today, he bought FB calls. Dan Nathan Dan Nathan is long BBRY June call spread, EBay May/July call spread, IWM May put fly, KO April 24th call fly, LULU May puts, M May call spread, NKE call spread, QQQ May 108/ 98 put spread, SHAK, T, TWTR, WMT June call spread, XLP May put spread and XLY May puts. Today, he bought EBay May/July call spread. Story continues Brian Kelly Brian Kelly is long BTC=, CTRL calls, GSG, BBRY, SPY puts and U.S. dollar. He is short 30-year bond futures. He is short Australian dollar. He is short yen. He is short yuan. Guy Adami Guy Adami is long CELG, EXAS and INTC. Guy Adami's wife, Linda Snow, works at Merck. More From CNBC Top News and Analysis Latest News Video Personal Finance View comments || Trading Internet earnings: 7 plays on mainstays: Facebook(NASDAQ: FB)reeled after earnings on Wednesday, but some CNBC "Fast Money" traders would be quick to scoop up the stock.
The social media giant dropped 2 percent in extended trading after it reported first-quarter revenue that missed analysts' expectations. But as the company's monthly active users in March rose 13 percent year-over-year, to 1.44 billion, trader Brian Kelly would buy on the slide.
"If you can't monetize that, then you really shouldn't be in any type of business whatsoever. So, on weakness, you buy Facebook," Kelly said.
Read MoreFacebook user growth crushes estimates
Trader Pete Najarian agreed that the stock has upside.
"I think tomorrow morning, as the dust settles, we're going to start to see really what the direction of Facebook is going to be," he said.
But trader Dan Nathan expressed more skepticism. He noted that user growth and ad revenue on mobile platforms may start to reach a saturation point. He said he preferred Google stock to Facebook.
EBay(NASDAQ: EBAY)-another Internet name that reported on Wednesday-soared in extended trading. The company beat Wall Street's earnings and revenue expectations, driven by strong growth in its PayPal service.
Read MoreEBay jumps after beating Street on profit, revenue
The stock popped 5 percent in after-hours to roughly $60 per share. Trader Guy Adami believes eBay shares could "make the push to the next level."
The company also said the previously announced split of eBay and PayPal into separate publicly traded companies would take place in the third quarter. Nathan noted that he would look to take a long position in an independent PayPal and short eBay, as its core marketplace segment fell off 4 percent year-over-year.
Disclosures:
Pete Najarian
Pete Najarian is long AMAT, AAPL, BABA, BAC, BMY, BP, CSX, DISCA, FOXA, GE, KKR, KO, LLY, LOCO, MBLY, MRK, PEP and PFE. He is long calls AAPL, BK, DAL, EBAY, EEM, F, FB, FL, GE, GS, HZNP, IMAX, JBLU, KO, MAC, MYL, NEE, NTAP, OC, PBR, PFE, RAD, SYY, TEVA, TSX, UA, UAL, VZ, XLF, XOM and ZIOP. Today, he bought IMAX calls. Today, he bought EBAY calls. Today, he sold AMGN calls. Today, he bought AAPL calls. Today, he bought FB calls.
Dan Nathan
Dan Nathan is long BBRY June call spread, EBay May/July call spread, IWM May put fly, KO April 24th call fly, LULU May puts, M May call spread, NKE call spread, QQQ May 108/ 98 put spread, SHAK, T, TWTR, WMT June call spread, XLP May put spread and XLY May puts. Today, he bought EBay May/July call spread.
Brian Kelly
Brian Kelly is long BTC=, CTRL calls, GSG, BBRY, SPY puts and U.S. dollar. He is short 30-year bond futures. He is short Australian dollar. He is short yen. He is short yuan.
Guy Adami
Guy Adami is long CELG, EXAS and INTC. Guy Adami's wife, Linda Snow, works at Merck.
More From CNBC
• Top News and Analysis
• Latest News Video
• Personal Finance || Greece's Drama Set To Continue Through The Weekend: This weekend, EU finance ministers are set to meet in Riga, Latvia, where they will discuss the state of the ongoing negotiations over Greece's bailout funds. However, Athens' strained relationship with many of its creditors and a general feeling of mistrust between the two sides will likely hinder forward progress. Running Out Of Cash Greece has been quickly running out of funding over the past three months, as negotiations for its next injection of cash have hit a wall. The nation's creditors say that Greek officials have not provided the necessary data to give them an accurate portrayal of the nation's financial condition and claim that Prime Minister Alexis Tsipras' reform proposals are insufficient and do not demonstrate a real commitment to change. Related Link: EU Policymakers Express Frustration As Greek Bailout Talks Flatline Strained Relationships Tsipras, who was elected into office based on his promises to end Greece's austerity programs, has been at odds with his EU creditors over how to shore up his nation's balance sheet. German officials have become increasingly skeptical about sending more cash, as they consider Tsipras' reversal of several previously agreed upon bailout conditions a violation of Athens' bailout contract. Grexit? Although there has been some rhetoric about allowing Greece to leave the eurozone, most don't expect that to be the final outcome. On Tuesday, the head of the eurogroup Jeroen Dijesselbloem assured markets that a Grexit is not an option and that it would be in everyone's best interest to keep Greece inside the eurozone. This weekend, Dijesselbloem said he is hoping the region's finance ministers will make some progress toward a deal in order to get the funds to Greece before its loan repayments bankrupt the government. Image Credit: Public Domain See more from Benzinga Bitcoin Makes Its Way To Social Media What Will Google's Wireless Service Look Like? House Set To Review And Pass Controversial Information-Sharing Bill © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. View comments || Greece's Drama Set To Continue Through The Weekend: This weekend, EU finance ministers are set to meet in Riga, Latvia, where they will discuss the state of the ongoing negotiations over Greece's bailout funds.
However, Athens' strained relationship with many of its creditors and a general feeling of mistrust between the two sides will likely hinder forward progress.
Running Out Of Cash
Greece has been quickly running out of funding over the past three months, as negotiations for its next injection of cash have hit a wall.
The nation's creditors say that Greek officials have not provided the necessary data to give them an accurate portrayal of the nation's financial condition andclaim thatPrime Minister Alexis Tsipras' reform proposals are insufficient and do not demonstrate a real commitment to change.
Related Link:EU Policymakers Express Frustration As Greek Bailout Talks Flatline
Strained Relationships
Tsipras, who was elected into office based on his promises to end Greece's austerity programs, has been at odds with his EU creditors over how to shore up his nation's balance sheet.
German officials have becomeincreasingly skepticalabout sending more cash, as they consider Tsipras' reversal of several previously agreed upon bailout conditions a violation of Athens' bailout contract.
Grexit?
Although there has been some rhetoric about allowing Greece to leave the eurozone, most don't expect that to be the final outcome.
On Tuesday, the head of the eurogroup Jeroen Dijesselbloem assured markets that a Grexit is not an option and that it would be in everyone's best interest to keep Greece inside the eurozone.
This weekend, Dijesselbloem said he is hoping the region's finance ministers will make some progress toward a deal in order to get the funds to Greece before its loan repayments bankrupt the government.
Image Credit: Public Domain
See more from Benzinga
• Bitcoin Makes Its Way To Social Media
• What Will Google's Wireless Service Look Like?
• House Set To Review And Pass Controversial Information-Sharing Bill
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || BTCS Announces $2.3 Million Financing With Management Participation: ARLINGTON, VA--(Marketwired - Apr 22, 2015) - Bitcoin Shop, Inc. ( OTCQB : BTCS ) ("BTCS" or the "Company"), a blockchain technology focused company which engages in transaction verification services and which is undertaking the build-out of a universal digital currency ecosystem, announced today that it closed on a financing for aggregate gross proceeds of $2,312,500. The Company sold 7,708,342 units consisting of one share of common stock and 1.4 warrants at a per unit price of $0.30. The warrants are exercisable into an aggregate of 10,791,684 shares of common stock at a per share price of $0.375. Charles Allen our CEO, Michal Handerhan our COO and Charlie Kiser our EVP invested an aggregate of $42,500 in the financing. Charles Allen, CEO of BTCS, commented, "We believe the sustained decline in the price of Bitcoin has created tremendous opportunities for us to further expand our business and seize opportunities created from the market downturn. With the completion of this financing we believe we are well positioned to be a leading bitcoin and blockchain focused company." About BTCS: BTCS plans to leverage its transaction verification services business while it builds a universal digital currency platform with the goal of enabling users to engage in the digital currency ecosystem through one point of access. We are currently engaged in transaction verification services and operate our public beta site ( www.btcs.com ) where consumers can purchase products using digital currency such as bitcoin, litecoin and dogecoin, by searching through a selection of over 250,000 items. Forward Looking Statements: Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company's filings with the Securities and Exchange Commission, not limited to Risk Factors relating to its digital currency business contained therein. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law. || BTCS Announces $2.3 Million Financing With Management Participation: ARLINGTON, VA--(Marketwired - Apr 22, 2015) - Bitcoin Shop, Inc. (OTCQB:BTCS) ("BTCS" or the "Company"), a blockchain technology focused company which engages in transaction verification services and which is undertaking the build-out of a universal digital currency ecosystem, announced today that it closed on a financing for aggregate gross proceeds of $2,312,500. The Company sold 7,708,342 units consisting of one share of common stock and 1.4 warrants at a per unit price of $0.30. The warrants are exercisable into an aggregate of 10,791,684 shares of common stock at a per share price of $0.375. Charles Allen our CEO, Michal Handerhan our COO and Charlie Kiser our EVP invested an aggregate of $42,500 in the financing.
Charles Allen, CEO of BTCS, commented, "We believe the sustained decline in the price of Bitcoin has created tremendous opportunities for us to further expand our business and seize opportunities created from the market downturn. With the completion of this financing we believe we are well positioned to be a leading bitcoin and blockchain focused company."
About BTCS:BTCS plans to leverage its transaction verification services business while it builds a universal digital currency platform with the goal of enabling users to engage in the digital currency ecosystem through one point of access. We are currently engaged in transaction verification services and operate our public beta site (www.btcs.com) where consumers can purchase products using digital currency such as bitcoin, litecoin and dogecoin, by searching through a selection of over 250,000 items.
Forward Looking Statements:Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company's filings with the Securities and Exchange Commission, not limited to Risk Factors relating to its digital currency business contained therein. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law. || Bitcoin Alternative NXT Announces Upcoming Release of NXT Version 1.5: The Complete Toolkit For Business: With upcoming release of Nxt software version 1.5 - which will include voting functionality, ability to use enhanced multisig account control, and improved data storage and transfer capabilities - Nxt has reached a new milestone as the next generation blockchain platform AMSTERDAM, NETHERLANDS / ACCESSWIRE / April 21, 2015 / From its inception in late 2013 Nxt has been designed to be a multipurpose toolkit, to be used either directly from the NRS client software or to be incorporated into third party applications. With account authorisation via the issue of secure tokens, enhanced data transfer and storage (with the ability to remove data when required), voting, multisignature transactions and much, much more, Nxt has now developed into a mature and complete next generation blockchain system for business use. Nxt Modularity Nxt is designed and built to be a modular system. It features several different transaction types, which can be used on their own or in combination. The current feature set, after the version 1.5 implementation of Voting and Phasing (enhanced multisig/account control) will include: - Send Transactions (sending the NXT currency or tokens to accounts - Data Transactions (send and store up to 40 kb of data) - Coloured Coins Transactions (create and trade Asset tokens) - Alias Creation Transactions (enabling the assignment of strings, such as a DNS entry, to Nxt accounts) - Sales Transactions (create and manage digital sales via a native marketplace) - Signature Transactions (provide proof of account via single-use token authentication) - Voting Transactions (fully customised polling system based on the Nxt blockchain) - Multisig Transactions - Custom Currencies Transactions (create customisable currencies on top of the Nxt blockchain) More in-depth information about these transaction types can be found in the Nxt Wiki or on the resource site, NxtInside.org . The perfect tool for DAOs Nxt is the perfect tool for the creation of Decentralised Autonomous Organisations (DAOs). A business or developer can issue their own tokens representing their organisational structure, handle a transaction stream, and keep their finance records in a fully transparent and auditable manner on the blockchain. Building new tools to enhance the core Nxt functionality for a business's own requirements is always possible, and the Nxt developer community will be happy to provide support for custom solutions where required. Story continues There is no absolute need to use the provided Nxt client software (the NRS client) if users do not want to, since Nxt can be utilised directly from within other applications by using the Nxt API , which currently has around 150 function calls. Full documentation for Nxt API can be found on the Nxt Wiki. Examples of projects that have been or are being built with Nxt include MyNxt.info, a browser wallet that supports plugins; DeBuNe, a company building business tools with Nxt; and Pangea Poker, a fully decentralised poker application. Nxt Foundation and PayExpo Last month, the Nxt Foundation was incorporated as a portal organisation to act as a point of contact for the Nxt community and anyone interested in the possibilities offered by Nxt - either from the cryptocurrency world or from the wider mainstream business community. The Nxt Foundation can also connect anyone with project ideas involving Nxt, such as entrepreneurs and business owners, with developers who can support or implement ideas and projects. The people within the Nxt Foundation have a background in sales, marketing and software development, and are happy to help people explore the possibilities of using Nxt. The NXT Foundation will be the official Cryptocurrency Sponsor of the upcoming PayExpo event, to be held in London on the 9th and 10th June 2015. Anyone is welcome to contact the Nxt Foundation at bas@nxtfoundation.org should they have any questions or require any assistance with Nxt, or a project involving Nxt. NXT in Space Nxt is also a sponsor for the Low Orbit Helium Assisted Navigator (LOHAN) project: a private UK-based initiative to launch an autonomous 3d-printed drone to the edge of space. This mission will carry a copy of the Nxt client software on its flight control computer, taking Nxt to new heights. For more information about us, please visit http://nxt.org/ Contact Info: Name: Bas Wisselink, Nxt Foundation Director Email: bas@nxtfoundation.org Organization: Nxt Foundation Phone: +31 (0)6 13937762 SOURCE: NXT || Daily Roundup: Setting up a 100-inch projector, 'Rock Band 4' news and more!: Welcome to the Daily Roundup. What is it like to setup a 100-inch projector inside your apartment? Meanwhile,Rock Band 4will be co-published by a hardware company and a Darknet-shopping bot was finally released after getting caught purchasing drugs. All the stories and more can be found below.
You could call me a bit of a movie fan. I own hundreds of Blu-rays and DVDs, see an obscene amount of movies in theaters and have been podcasting about my obsessive media habits for the past eight years. Movies aren't just mindless fun for me: they're a way of life, a religion. So it was only a matter of time until my 50-inch plasma HDTV started to feel too small and the siren song of an in-home projector came calling.
Rock Bandcreator Harmonix is bringing a roadie along for this year's release ofRock Band 4-- Mad Catz, the peripheral manufacturer, which will co-publish the game on Xbox One and PlayStation 4. Mad Catz is in charge of making all of the wireless instruments inRock Band 4, but as a co-publisher the company will also lead global sales, promotions and distribution, Global PR Director Alex Verrey says.
After spending a couple months in Swiss robot prison, the Random Darknet Shopper (RDS) is once again free to purchase random goods from the deepest corners of the Internet. The robot, originally designed as an art installation, was built to navigate the Darknet and autonomously purchase goods using Bitcoin currency. During its three-month run at Kunst Halle St Gallen art gallery in St. Gallen, Switzerland, the Shopper made a variety of purchases, most of which were completely legal.
Almost every website with comments suffers from trolls, people who like to spout obnoxious and irrational gibberish just to offend others. Since you can't just ask people to behave like human beings, a lot of time and effort is spent monitoring and policing this idiocy. Thankfully, the internet's long national nightmare may now be at an end after researchers from Stanford and Cornell developed an early warning system for trolls.
If you own a smart TV or an iOS device that's getting a bit long in the tooth, you may need to do some upgrading this week if you want to continue using the YouTube app. Due to certain changes in the app's API, it'll no longer work on a number of models released in 2012 or earlier, including second-generation Apple TVs, Panasonic TVs, Sony TVs and Blu-ray players, as well as devices running Google TV versions 1 or 2. You'll know you're affected if a video showing the notice above plays upon firing up the app, though most models released in 2013 or later are safe.
Wondering what you were searching for online a few years ago? You now have a (relatively) easy way to find out. Google has quietly trotted out an option to download your entire search history. So long as you searched using your Google account, you'll have a permanent record. Of course, this is something of a mixed blessing given how pervasive Google is at this stage. While the archive may help you dig up a keyword you're struggling to remember, something tells us that it'd be all too easy to dredge up embarrassing memories -- we hope you didn't Google your classroom crush.
For decades, people have searched for signs of "Nessie" in the murky depths of Loch Ness. Photos and videos have emerged over the years alongside supposed sightings, but they've ultimately failed to prove the mythical beast's existence. Is Nessie fact or fiction? Regardless of where you stand, Google is making it simpler to explore the freshwater loch yourself. The company has captured the giant lake with 360-degree panoramas and uploaded them all to Google Maps Street View. It's a beautiful place, and while you're unlikely to find Nessie lurking in the shallows, there's no harm in looking, right? || Bitcoin Alternative NXT Announces Upcoming Release of NXT Version 1.5: The Complete Toolkit For Business: With upcoming release of Nxt software version 1.5 - which will include voting functionality, ability to use enhanced multisig account control, and improved data storage and transfer capabilities - Nxt has reached a new milestone as the next generation blockchain platform
AMSTERDAM, NETHERLANDS / ACCESSWIRE / April 21, 2015 /From its inception in late 2013 Nxt has been designed to be a multipurpose toolkit, to be used either directly from the NRS client software or to be incorporated into third party applications.
With account authorisation via the issue of secure tokens, enhanced data transfer and storage (with the ability to remove data when required), voting, multisignature transactions and much, much more, Nxt has now developed into a mature and complete next generation blockchain system for business use.
Nxt Modularity
Nxt is designed and built to be a modular system. It features several different transaction types, which can be used on their own or in combination. The current feature set, after the version 1.5 implementation of Voting and Phasing (enhanced multisig/account control) will include:
- Send Transactions (sending the NXT currency or tokens to accounts- Data Transactions (send and store up to 40 kb of data)- Coloured Coins Transactions (create and trade Asset tokens)- Alias Creation Transactions (enabling the assignment of strings, such as a DNS entry, to Nxt accounts)- Sales Transactions (create and manage digital sales via a native marketplace)- Signature Transactions (provide proof of account via single-use token authentication)- Voting Transactions (fully customised polling system based on the Nxt blockchain)- Multisig Transactions- Custom Currencies Transactions (create customisable currencies on top of the Nxt blockchain)
More in-depth information about these transaction types can be found in theNxt Wikior on the resource site,NxtInside.org.
The perfect tool for DAOs
Nxt is the perfect tool for the creation of Decentralised Autonomous Organisations (DAOs). A business or developer can issue their own tokens representing their organisational structure, handle a transaction stream, and keep their finance records in a fully transparent and auditable manner on the blockchain. Building new tools to enhance the core Nxt functionality for a business's own requirements is always possible, and the Nxt developer community will be happy to provide support for custom solutions where required.
There is no absolute need to use the provided Nxt client software (the NRS client) if users do not want to, since Nxt can be utilised directly from within other applications by using theNxt API, which currently has around 150 function calls. Full documentation for Nxt API can be found on the Nxt Wiki.
Examples of projects that have been or are being built with Nxt include MyNxt.info, a browser wallet that supports plugins; DeBuNe, a company building business tools with Nxt; and Pangea Poker, a fully decentralised poker application.
Nxt Foundation and PayExpo
Last month, theNxt Foundationwas incorporated as a portal organisation to act as a point of contact for the Nxt community and anyone interested in the possibilities offered by Nxt - either from the cryptocurrency world or from the wider mainstream business community. The Nxt Foundation can also connect anyone with project ideas involving Nxt, such as entrepreneurs and business owners, with developers who can support or implement ideas and projects.
The people within the Nxt Foundation have a background in sales, marketing and software development, and are happy to help people explore the possibilities of using Nxt.
The NXT Foundation will be the official Cryptocurrency Sponsor of the upcoming PayExpo event, to be held in London on the 9th and 10th June 2015.
Anyone is welcome to contact the Nxt Foundation atbas@nxtfoundation.orgshould they have any questions or require any assistance with Nxt, or a project involving Nxt.
NXT in Space
Nxt is also a sponsor for the Low Orbit Helium Assisted Navigator (LOHAN) project: a private UK-based initiative to launch an autonomous 3d-printed drone to the edge of space. This mission will carry a copy of the Nxt client software on its flight control computer, taking Nxt to new heights.
For more information about us, please visithttp://nxt.org/
Contact Info:
Name: Bas Wisselink, Nxt Foundation DirectorEmail:bas@nxtfoundation.orgOrganization: Nxt FoundationPhone: +31 (0)6 13937762
SOURCE:NXT || Bitcoin Alternative NXT Announces Upcoming Release of NXT Version 1.5: The Complete Toolkit For Business: With upcoming release of Nxt software version 1.5 - which will include voting functionality, ability to use enhanced multisig account control, and improved data storage and transfer capabilities - Nxt has reached a new milestone as the next generation blockchain platform
AMSTERDAM, NETHERLANDS / ACCESSWIRE / April 21, 2015 /From its inception in late 2013 Nxt has been designed to be a multipurpose toolkit, to be used either directly from the NRS client software or to be incorporated into third party applications.
With account authorisation via the issue of secure tokens, enhanced data transfer and storage (with the ability to remove data when required), voting, multisignature transactions and much, much more, Nxt has now developed into a mature and complete next generation blockchain system for business use.
Nxt Modularity
Nxt is designed and built to be a modular system. It features several different transaction types, which can be used on their own or in combination. The current feature set, after the version 1.5 implementation of Voting and Phasing (enhanced multisig/account control) will include:
- Send Transactions (sending the NXT currency or tokens to accounts- Data Transactions (send and store up to 40 kb of data)- Coloured Coins Transactions (create and trade Asset tokens)- Alias Creation Transactions (enabling the assignment of strings, such as a DNS entry, to Nxt accounts)- Sales Transactions (create and manage digital sales via a native marketplace)- Signature Transactions (provide proof of account via single-use token authentication)- Voting Transactions (fully customised polling system based on the Nxt blockchain)- Multisig Transactions- Custom Currencies Transactions (create customisable currencies on top of the Nxt blockchain)
More in-depth information about these transaction types can be found in theNxt Wikior on the resource site,NxtInside.org.
The perfect tool for DAOs
Nxt is the perfect tool for the creation of Decentralised Autonomous Organisations (DAOs). A business or developer can issue their own tokens representing their organisational structure, handle a transaction stream, and keep their finance records in a fully transparent and auditable manner on the blockchain. Building new tools to enhance the core Nxt functionality for a business's own requirements is always possible, and the Nxt developer community will be happy to provide support for custom solutions where required.
There is no absolute need to use the provided Nxt client software (the NRS client) if users do not want to, since Nxt can be utilised directly from within other applications by using theNxt API, which currently has around 150 function calls. Full documentation for Nxt API can be found on the Nxt Wiki.
Examples of projects that have been or are being built with Nxt include MyNxt.info, a browser wallet that supports plugins; DeBuNe, a company building business tools with Nxt; and Pangea Poker, a fully decentralised poker application.
Nxt Foundation and PayExpo
Last month, theNxt Foundationwas incorporated as a portal organisation to act as a point of contact for the Nxt community and anyone interested in the possibilities offered by Nxt - either from the cryptocurrency world or from the wider mainstream business community. The Nxt Foundation can also connect anyone with project ideas involving Nxt, such as entrepreneurs and business owners, with developers who can support or implement ideas and projects.
The people within the Nxt Foundation have a background in sales, marketing and software development, and are happy to help people explore the possibilities of using Nxt.
The NXT Foundation will be the official Cryptocurrency Sponsor of the upcoming PayExpo event, to be held in London on the 9th and 10th June 2015.
Anyone is welcome to contact the Nxt Foundation atbas@nxtfoundation.orgshould they have any questions or require any assistance with Nxt, or a project involving Nxt.
NXT in Space
Nxt is also a sponsor for the Low Orbit Helium Assisted Navigator (LOHAN) project: a private UK-based initiative to launch an autonomous 3d-printed drone to the edge of space. This mission will carry a copy of the Nxt client software on its flight control computer, taking Nxt to new heights.
For more information about us, please visithttp://nxt.org/
Contact Info:
Name: Bas Wisselink, Nxt Foundation DirectorEmail:bas@nxtfoundation.orgOrganization: Nxt FoundationPhone: +31 (0)6 13937762
SOURCE:NXT || California's Water Crisis Draws Investors: As California struggles through a four-year drought that has left the state in dire need of both better water controls and a more efficient way to supply its residents, many investors are beginning to look for ways to capitalize on the growing demand for companies that can conserve and transport water.
Infrastructure
After Governor Jerry Brown declared astate of emergencyin January, the state began to focus its efforts on conservation and educating residents on ways to save the precious resource.
Related Link:California Drought Lesson: Do Not Take Water Supply For Granted
Since then, there has been a push in many communities to install water meters that measure the amount of water a particular residence is using. Companies that manufacture and install water meters, likeMueller Water Products, Inc.(NYSE:MWA) andBadger Meter, Inc.(NYSE:BMI), are likely to see a jump in sales as conservation takes priority.
Desalination
While the environmental effects and sky-high costs of desalination have kept California from investing heavily in making sea water drinkable, many believe the state will eventually resort to more reliance on plants that do just that.
For that reason, long-term investment in companies likeXylem Inc(NYSE:XYL), which manufacture the equipment needed for desalination, could be a smart play.
Energy
Some investors are thinking outside the box and looking to alternative energy companies as the drought forces California to rely less on hydropower.
Many see solar as a great alternative, especially in California where sunshine is plentiful. For that reason, investors are looking toSolarCity Corp(NASDAQ:SCTY), the state's largest rooftop solar panel installer.
Image Credit: Public Domain
See more from Benzinga
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• Target's Partnership With Lilly Pulitzer Kicks Off With A Bang
• The Who's Who In The Smartwatch Space
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || California's Water Crisis Draws Investors: As California struggles through a four-year drought that has left the state in dire need of both better water controls and a more efficient way to supply its residents, many investors are beginning to look for ways to capitalize on the growing demand for companies that can conserve and transport water. Infrastructure After Governor Jerry Brown declared a state of emergency in January, the state began to focus its efforts on conservation and educating residents on ways to save the precious resource. Related Link: California Drought Lesson: Do Not Take Water Supply For Granted Since then, there has been a push in many communities to install water meters that measure the amount of water a particular residence is using. Companies that manufacture and install water meters, like Mueller Water Products, Inc. (NYSE: MWA ) and Badger Meter, Inc. (NYSE: BMI ), are likely to see a jump in sales as conservation takes priority. Desalination While the environmental effects and sky-high costs of desalination have kept California from investing heavily in making sea water drinkable, many believe the state will eventually resort to more reliance on plants that do just that. For that reason, long-term investment in companies like Xylem Inc (NYSE: XYL ), which manufacture the equipment needed for desalination, could be a smart play. Energy Some investors are thinking outside the box and looking to alternative energy companies as the drought forces California to rely less on hydropower. Many see solar as a great alternative, especially in California where sunshine is plentiful. For that reason, investors are looking to SolarCity Corp (NASDAQ: SCTY ), the state's largest rooftop solar panel installer. Image Credit: Public Domain See more from Benzinga Bitcoin Becomes An Everyday Currency Target's Partnership With Lilly Pulitzer Kicks Off With A Bang The Who's Who In The Smartwatch Space © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. View comments || Avra Announces Launch of Top Tier Security Products for Digital Currency Vendors: GREENVILLE, SC--(Marketwired - Apr 20, 2015) - Avra, Inc. ( OTCQB : AVRN ) ("Avra" or the "Company") a development stage company pioneering product innovation and activation of merchant and consumer commerce in the global Bitcoin-related digital currencies market, is pleased to announce the introduction of AvraSecure, a dedicated platform which offers critical security solutions to the growing digital currency industry. AvraSecure ( www.avrasecure.com ) is a perfect fit to complement all forms of technical payment infrastructure such as Bitcoin ATM machines, electronic wallets and related digital storage and transaction systems as well as payment gateways for Visa® and MasterCard® processing; while providing security and compliance requirements for KYC/AML which owner/operators will need in order to stay protected and remain compliant within the increasingly stringent regulatory environment. Avra is has created a one-stop solution that provides a best practice level of protection combined with an easy to integrate application interface. Avra invites its peers to join our security initiative and increase the level of security to the highest standards in order to combat intrusions and their effect on the industry, individual brand reputation, and most importantly, customer acquisition and retention. "Card brands such as Visa, MasterCard, Discover and AMEX agreed to form a security council in 2004 known as the Payment Card Industry Security Standards Counsel which to-date has had a very positive impact on protecting consumers and businesses. More needs to be done however as its shocking to think what the impact of breaches could be without this council," stated Steve Shepherd, CEO at Avra. "Digital Currency businesses are a relatively small but highly visible target and Avra has invested significantly in the development of preventative applications available to our clients through AvraSecure, a subscription based solution which can be implemented for as little as $199 per month with increased security solutions available based upon a completely free client-specific needs assessment." Story continues "It is a difficult task to make frictionless commerce service commitments as easy as possible when we operate in an environment that is constantly under the threat of attack. Hackers have more motivation to continue to find vulnerabilities whenever and wherever they can. We are committed to delivering rigorously controlled access that achieves the highest level of security and protection to our users, while continuously monitoring for vulnerabilities," stated Barry Johnson, Avra's Data Security Manager, "Many of the people becoming involved in the Bitcoin arena aren't necessarily security engineers with the bank-grade experience necessary to secure servers, wallets, websites and shopping carts. Currently, the real cost of intrusions can run into millions of dollars with limited recourse available. Companies which elect to operate as vendors in this market must have top-grade security if they intend to hold value on behalf of a client. If they do not, they shouldn't be operating at all, and should be held at least partially liable for otherwise preventable incursions." For more information please visit our website at: www.avraglobal.com . About Avra, Inc. ( OTCQB : AVRN ) Avra, Inc. is focused on solutions in the digital currency markets, particularly in offering payment solutions to businesses worldwide. The Company's business model is divided into five distinct categories: AvraPay: to develop a complete, turn-key and painless way for merchants to accept Bitcoin as Payment; AvraATM: to promote usage and acceptance of digital currencies through the Company's proposed network of ATMs; AvraTourism: to provide cryptocurrency payment processing solutions for merchants such as hotels and casinos; AvraNews: to provide a news portal focusing on digital currency news, and the latest addition; AvraSecure, offering subscription based critical security solutions to digital currency vendors. For more information about the Company please visit: www.avraglobal.com . Additional information regarding Avra, Inc. and its filings can be found at www.sec.gov . Forward Looking Statements Some information in this document constitutes forward-looking statements or statements which may be deemed or construed to be forward-looking statements, such as the closing of the share exchange agreement. The words "plan", "forecast", "anticipates", "estimate", "project", "intend", "expect", "should", "believe", and similar expressions are intended to identify forward-looking statements. These forward-looking statements involve, and are subject to known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance (financial or operating) or achievements to differ from the future results, performance (financial or operating) or achievements expressed or implied by such forward-looking statements. The risks, uncertainties and other factors are more fully discussed in the Company's filings with the U.S. Securities and Exchange Commission. All forward-looking statements attributable to Avra Inc., herein are expressly qualified in their entirety by the above-mentioned cautionary statement. Avra Inc., disclaims any obligation to update forward-looking statements contained in this estimate, except as may be required by law. || Avra Announces Launch of Top Tier Security Products for Digital Currency Vendors: GREENVILLE, SC--(Marketwired - Apr 20, 2015) -Avra, Inc.(OTCQB:AVRN) ("Avra" or the "Company") a development stage company pioneering product innovation and activation of merchant and consumer commerce in the global Bitcoin-related digital currencies market, is pleased to announce the introduction of AvraSecure, a dedicated platform which offers critical security solutions to the growing digital currency industry.
AvraSecure (www.avrasecure.com) is a perfect fit to complement all forms of technical payment infrastructure such as Bitcoin ATM machines, electronic wallets and related digital storage and transaction systems as well as payment gateways for Visa® and MasterCard® processing; while providing security and compliance requirements for KYC/AML which owner/operators will need in order to stay protected and remain compliant within the increasingly stringent regulatory environment.
Avra is has created a one-stop solution that provides a best practice level of protection combined with an easy to integrate application interface. Avra invites its peers to join our security initiative and increase the level of security to the highest standards in order to combat intrusions and their effect on the industry, individual brand reputation, and most importantly, customer acquisition and retention.
"Card brands such as Visa, MasterCard, Discover and AMEX agreed to form a security council in 2004 known as the Payment Card Industry Security Standards Counsel which to-date has had a very positive impact on protecting consumers and businesses. More needs to be done however as its shocking to think what the impact of breaches could be without this council," stated Steve Shepherd, CEO at Avra. "Digital Currency businesses are a relatively small but highly visible target and Avra has invested significantly in the development of preventative applications available to our clients through AvraSecure, a subscription based solution which can be implemented for as little as $199 per month with increased security solutions available based upon a completely free client-specific needs assessment."
"It is a difficult task to make frictionless commerce service commitments as easy as possible when we operate in an environment that is constantly under the threat of attack. Hackers have more motivation to continue to find vulnerabilities whenever and wherever they can. We are committed to delivering rigorously controlled access that achieves the highest level of security and protection to our users, while continuously monitoring for vulnerabilities," stated Barry Johnson, Avra's Data Security Manager, "Many of the people becoming involved in the Bitcoin arena aren't necessarily security engineers with the bank-grade experience necessary to secure servers, wallets, websites and shopping carts. Currently, the real cost of intrusions can run into millions of dollars with limited recourse available. Companies which elect to operate as vendors in this market must have top-grade security if they intend to hold value on behalf of a client. If they do not, they shouldn't be operating at all, and should be held at least partially liable for otherwise preventable incursions."
For more information please visit our website at:www.avraglobal.com.
About Avra, Inc.(OTCQB:AVRN)Avra, Inc. is focused on solutions in the digital currency markets, particularly in offering payment solutions to businesses worldwide. The Company's business model is divided into five distinct categories: AvraPay: to develop a complete, turn-key and painless way for merchants to accept Bitcoin as Payment; AvraATM: to promote usage and acceptance of digital currencies through the Company's proposed network of ATMs; AvraTourism: to provide cryptocurrency payment processing solutions for merchants such as hotels and casinos; AvraNews: to provide a news portal focusing on digital currency news, and the latest addition; AvraSecure, offering subscription based critical security solutions to digital currency vendors. For more information about the Company please visit:www.avraglobal.com.
Additional information regarding Avra, Inc. and its filings can be found atwww.sec.gov.
Forward Looking StatementsSome information in this document constitutes forward-looking statements or statements which may be deemed or construed to be forward-looking statements, such as the closing of the share exchange agreement. The words "plan", "forecast", "anticipates", "estimate", "project", "intend", "expect", "should", "believe", and similar expressions are intended to identify forward-looking statements. These forward-looking statements involve, and are subject to known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance (financial or operating) or achievements to differ from the future results, performance (financial or operating) or achievements expressed or implied by such forward-looking statements. The risks, uncertainties and other factors are more fully discussed in the Company's filings with the U.S. Securities and Exchange Commission. All forward-looking statements attributable to Avra Inc., herein are expressly qualified in their entirety by the above-mentioned cautionary statement. Avra Inc., disclaims any obligation to update forward-looking statements contained in this estimate, except as may be required by law. || Bitcoin Alternative Jetcoin Disrupts Sports Industry, Athlete And Fan Relationships – Launching Cryptocurrency Presale: Bringing Wall Street And Blockchain Technology To The World Of Sports And Entertainment, Jetcoin Institute Is Pleased To Announce The Jetcoin Presale: Jetcoin Is Backed By Gold Bullion Allowing Anyone To Own IP Rights Of Promising Athletes And Talents
SINGAPORE, SG / ACCESSWIRE / April 19, 2015 /Jetcoin, the new digital fuel for the world of sports and entertainment, gives fans and supporters a unique opportunity to benefit directly from the success of their favourite athletes and stars. It disrupts traditional fan-athlete/talent relationships by enabling anyone to launch and support the careers of tomorrow's stars.
Using block chain technology, Jetcoin decentralises the world of sports and entertainment, ruled today by powerful agents and corporations. Jetcoin tilts the power balance by establishing the first platform where anyone can own IP rights of promising athletes and talents. Also the first digital currency to be backed by precious metal collateral (gold) via a partnership with XNF, Jetcoin is tradeable across 3 continents through DXMarkets.
Uniquely backed by physical assets, Jetcoin is issued by the Jetcoin Institute, which has gathered a team of first-class advisors led by world famous currency expert, Prof. Bernard Lietaer. The Jetcoin Platform will be built with NXT technology to deliver a unique and decentralised financial platform. Jetcoin holders are able to earn revenues through Jetcoin Contracts and its social media rewards system, P.O.S.E. (Proof Of Social Engagement) as well as access unique lifestyle experiences.
In August 2014, in a bid to both establish the branding of Jetcoin internationally as well as to secure a testing ground for a myriad of innovative tech applications and crowd funding concepts customised for sports and entertainment, Jetcoin became the first digital currency to become the main sponsor of a Serie A football team, A.C. ChievoVerona. In developing the Jetcoin ecosystem of partnerships, deals have been made with top service providers like Samsung Sportsflow and Pogoseat to optimise fan experience and engagement in sport entertainment. Jetcoin Institute has also recently developed and launched Stadia, a free sport app aimed at increasing fan interaction and engagement during live football.
For a limited time period, jetcoins are available at a promotional price of US$ 0.02 at the official website implementation by https://jetcoininstitute.com. Compared to the Bitcoin, whose rise from its initial sale price of less than US$0.01 to its peak of US$1250, Jetcoin - backed by physical assets - is poised to track an interesting trajectory.
About JetcoinMain sponsor of Serie A football team, A.C. ChievoVerona, 'jetcoin' is a new digital fuel issued by the Jetcoin Institute. It gives fans and supporters in the world of sports and entertainment a unique opportunity to benefit directly from the success of their favourite athletes and stars, both financially and also through unique lifestyle experiences such as seat upgrades, access to VIP boxes, exclusive events, behind-the-scenes and/or after-parties etc. Jetcoin Institute continues to work with partner teams, brands and service providers to offer exclusive deals to jetcoin holders. Visithttps://jetcoininstitute.com
About Prof. Bernard LietaerProf. Lietaer is the author of The Future of Money (translated in 18 languages), and is an international expert in the design and implementation of currency systems. He co-designed and implemented the convergence mechanism to the Euro. Visithttp://www.lietaer.com
About A.C. ChievoVeronaA.C. Chievo Verona is a professional Serie A Italian Football club named after and based in Chievo, Verona, in the Veneto region. Visithttp://chievoverona.tv
About Samsung SportsflowSportsFlow delivers the latest sports news, photos and videos from around the world via one single app. Visit http://www.sportsflow.me
About XNFXNF is a digital currency with a physical collateral in GOLD. XNF Trading provides the easiest way to acquire virtual currencies (Jetcoin - XNF) in exchange for traditional currencies (USD and EUR) and bitcoins. Visit http://www.nofiatcoin.com
About DXMarketsDXMarkets is a cutting-edge trading platform for digital currencies. The platform offers a fully customisable dashboard that caters for beginners and experienced traders. DXMarkets aims to position itself as the preferred choice for financial institutions wanting to integrate digital currencies into their product portfolio. Visit https://dxmarkets.com
About NXTNXT is an open source cryptocurrency and payment network, using proof-of-stake to reach consensus for transactions. As such there is a static money supply and no mining as with Bitcoin. NXT is specifically conceived as flexible platform to build applications and financial services around. Visit http://www.nxt.org
About PogoseatPogoseat is an enterprise solution for sports teams and concert venues that enables their fans to upgrade seats and purchase unique VIP upgrades. Pogoseat currently works with clients across the NBA, MLB, NHL, AFL, The Football League and NCAA all over America. Visit https://www.pogoseat.com
About StadiaStadia is a free app powered by Jetcoin that optimises fan experience during live football, available for download on Android and IOS. Visit http://www.stadia.clubFor more information about us, please visithttps://jetcoininstitute.com
Video URL: https://www.youtube.com/watch?feature=player_embedded&v=U6p-3VYPLVg
Contact:Celia Wongpr@jetcoininstitute.comJetcoininstitute
Source:Jetcoin || Bitcoin Alternative Jetcoin Disrupts Sports Industry, Athlete And Fan Relationships Launching Cryptocurrency Presale: Bringing Wall Street And Blockchain Technology To The World Of Sports And Entertainment, Jetcoin Institute Is Pleased To Announce The Jetcoin Presale: Jetcoin Is Backed By Gold Bullion Allowing Anyone To Own IP Rights Of Promising Athletes And Talents SINGAPORE, SG / ACCESSWIRE / April 19, 2015 / Jetcoin, the new digital fuel for the world of sports and entertainment, gives fans and supporters a unique opportunity to benefit directly from the success of their favourite athletes and stars. It disrupts traditional fan-athlete/talent relationships by enabling anyone to launch and support the careers of tomorrow's stars. Using block chain technology, Jetcoin decentralises the world of sports and entertainment, ruled today by powerful agents and corporations. Jetcoin tilts the power balance by establishing the first platform where anyone can own IP rights of promising athletes and talents. Also the first digital currency to be backed by precious metal collateral (gold) via a partnership with XNF, Jetcoin is tradeable across 3 continents through DXMarkets. Uniquely backed by physical assets, Jetcoin is issued by the Jetcoin Institute, which has gathered a team of first-class advisors led by world famous currency expert, Prof. Bernard Lietaer. The Jetcoin Platform will be built with NXT technology to deliver a unique and decentralised financial platform. Jetcoin holders are able to earn revenues through Jetcoin Contracts and its social media rewards system, P.O.S.E. (Proof Of Social Engagement) as well as access unique lifestyle experiences. In August 2014, in a bid to both establish the branding of Jetcoin internationally as well as to secure a testing ground for a myriad of innovative tech applications and crowd funding concepts customised for sports and entertainment, Jetcoin became the first digital currency to become the main sponsor of a Serie A football team, A.C. ChievoVerona. In developing the Jetcoin ecosystem of partnerships, deals have been made with top service providers like Samsung Sportsflow and Pogoseat to optimise fan experience and engagement in sport entertainment. Jetcoin Institute has also recently developed and launched Stadia, a free sport app aimed at increasing fan interaction and engagement during live football. Story continues For a limited time period, jetcoins are available at a promotional price of US$ 0.02 at the official website implementation by https://jetcoininstitute.com. Compared to the Bitcoin, whose rise from its initial sale price of less than US$0.01 to its peak of US$1250, Jetcoin - backed by physical assets - is poised to track an interesting trajectory. About Jetcoin Main sponsor of Serie A football team, A.C. ChievoVerona, 'jetcoin' is a new digital fuel issued by the Jetcoin Institute. It gives fans and supporters in the world of sports and entertainment a unique opportunity to benefit directly from the success of their favourite athletes and stars, both financially and also through unique lifestyle experiences such as seat upgrades, access to VIP boxes, exclusive events, behind-the-scenes and/or after-parties etc. Jetcoin Institute continues to work with partner teams, brands and service providers to offer exclusive deals to jetcoin holders. Visit https://jetcoininstitute.com About Prof. Bernard Lietaer Prof. Lietaer is the author of The Future of Money (translated in 18 languages), and is an international expert in the design and implementation of currency systems. He co-designed and implemented the convergence mechanism to the Euro. Visit http://www.lietaer.com About A.C. ChievoVerona A.C. Chievo Verona is a professional Serie A Italian Football club named after and based in Chievo, Verona, in the Veneto region. Visit http://chievoverona.tv About Samsung Sportsflow SportsFlow delivers the latest sports news, photos and videos from around the world via one single app. Visit http://www.sportsflow.me About XNF XNF is a digital currency with a physical collateral in GOLD. XNF Trading provides the easiest way to acquire virtual currencies (Jetcoin - XNF) in exchange for traditional currencies (USD and EUR) and bitcoins. Visit http://www.nofiatcoin.com About DXMarkets DXMarkets is a cutting-edge trading platform for digital currencies. The platform offers a fully customisable dashboard that caters for beginners and experienced traders. DXMarkets aims to position itself as the preferred choice for financial institutions wanting to integrate digital currencies into their product portfolio. Visit https://dxmarkets.com About NXT NXT is an open source cryptocurrency and payment network, using proof-of-stake to reach consensus for transactions. As such there is a static money supply and no mining as with Bitcoin. NXT is specifically conceived as flexible platform to build applications and financial services around. Visit http://www.nxt.org About Pogoseat Pogoseat is an enterprise solution for sports teams and concert venues that enables their fans to upgrade seats and purchase unique VIP upgrades. Pogoseat currently works with clients across the NBA, MLB, NHL, AFL, The Football League and NCAA all over America. Visit https://www.pogoseat.com About Stadia Stadia is a free app powered by Jetcoin that optimises fan experience during live football, available for download on Android and IOS. Visit http://www.stadia.club For more information about us, please visit https://jetcoininstitute.com Video URL: https://www.youtube.com/watch?feature=player_embedded&v=U6p-3VYPLVg Contact: Celia Wong pr@jetcoininstitute.com Jetcoininstitute Source: Jetcoin || Bitcoin Alternative Jetcoin Disrupts Sports Industry, Athlete And Fan Relationships – Launching Cryptocurrency Presale: Bringing Wall Street And Blockchain Technology To The World Of Sports And Entertainment, Jetcoin Institute Is Pleased To Announce The Jetcoin Presale: Jetcoin Is Backed By Gold Bullion Allowing Anyone To Own IP Rights Of Promising Athletes And Talents
SINGAPORE, SG / ACCESSWIRE / April 19, 2015 /Jetcoin, the new digital fuel for the world of sports and entertainment, gives fans and supporters a unique opportunity to benefit directly from the success of their favourite athletes and stars. It disrupts traditional fan-athlete/talent relationships by enabling anyone to launch and support the careers of tomorrow's stars.
Using block chain technology, Jetcoin decentralises the world of sports and entertainment, ruled today by powerful agents and corporations. Jetcoin tilts the power balance by establishing the first platform where anyone can own IP rights of promising athletes and talents. Also the first digital currency to be backed by precious metal collateral (gold) via a partnership with XNF, Jetcoin is tradeable across 3 continents through DXMarkets.
Uniquely backed by physical assets, Jetcoin is issued by the Jetcoin Institute, which has gathered a team of first-class advisors led by world famous currency expert, Prof. Bernard Lietaer. The Jetcoin Platform will be built with NXT technology to deliver a unique and decentralised financial platform. Jetcoin holders are able to earn revenues through Jetcoin Contracts and its social media rewards system, P.O.S.E. (Proof Of Social Engagement) as well as access unique lifestyle experiences.
In August 2014, in a bid to both establish the branding of Jetcoin internationally as well as to secure a testing ground for a myriad of innovative tech applications and crowd funding concepts customised for sports and entertainment, Jetcoin became the first digital currency to become the main sponsor of a Serie A football team, A.C. ChievoVerona. In developing the Jetcoin ecosystem of partnerships, deals have been made with top service providers like Samsung Sportsflow and Pogoseat to optimise fan experience and engagement in sport entertainment. Jetcoin Institute has also recently developed and launched Stadia, a free sport app aimed at increasing fan interaction and engagement during live football.
For a limited time period, jetcoins are available at a promotional price of US$ 0.02 at the official website implementation by https://jetcoininstitute.com. Compared to the Bitcoin, whose rise from its initial sale price of less than US$0.01 to its peak of US$1250, Jetcoin - backed by physical assets - is poised to track an interesting trajectory.
About JetcoinMain sponsor of Serie A football team, A.C. ChievoVerona, 'jetcoin' is a new digital fuel issued by the Jetcoin Institute. It gives fans and supporters in the world of sports and entertainment a unique opportunity to benefit directly from the success of their favourite athletes and stars, both financially and also through unique lifestyle experiences such as seat upgrades, access to VIP boxes, exclusive events, behind-the-scenes and/or after-parties etc. Jetcoin Institute continues to work with partner teams, brands and service providers to offer exclusive deals to jetcoin holders. Visithttps://jetcoininstitute.com
About Prof. Bernard LietaerProf. Lietaer is the author of The Future of Money (translated in 18 languages), and is an international expert in the design and implementation of currency systems. He co-designed and implemented the convergence mechanism to the Euro. Visithttp://www.lietaer.com
About A.C. ChievoVeronaA.C. Chievo Verona is a professional Serie A Italian Football club named after and based in Chievo, Verona, in the Veneto region. Visithttp://chievoverona.tv
About Samsung SportsflowSportsFlow delivers the latest sports news, photos and videos from around the world via one single app. Visit http://www.sportsflow.me
About XNFXNF is a digital currency with a physical collateral in GOLD. XNF Trading provides the easiest way to acquire virtual currencies (Jetcoin - XNF) in exchange for traditional currencies (USD and EUR) and bitcoins. Visit http://www.nofiatcoin.com
About DXMarketsDXMarkets is a cutting-edge trading platform for digital currencies. The platform offers a fully customisable dashboard that caters for beginners and experienced traders. DXMarkets aims to position itself as the preferred choice for financial institutions wanting to integrate digital currencies into their product portfolio. Visit https://dxmarkets.com
About NXTNXT is an open source cryptocurrency and payment network, using proof-of-stake to reach consensus for transactions. As such there is a static money supply and no mining as with Bitcoin. NXT is specifically conceived as flexible platform to build applications and financial services around. Visit http://www.nxt.org
About PogoseatPogoseat is an enterprise solution for sports teams and concert venues that enables their fans to upgrade seats and purchase unique VIP upgrades. Pogoseat currently works with clients across the NBA, MLB, NHL, AFL, The Football League and NCAA all over America. Visit https://www.pogoseat.com
About StadiaStadia is a free app powered by Jetcoin that optimises fan experience during live football, available for download on Android and IOS. Visit http://www.stadia.clubFor more information about us, please visithttps://jetcoininstitute.com
Video URL: https://www.youtube.com/watch?feature=player_embedded&v=U6p-3VYPLVg
Contact:Celia Wongpr@jetcoininstitute.comJetcoininstitute
Source:Jetcoin || Your first trade for Monday: The " Fast Money " traders gave their final trades of the day. Tim Seymour was a buyer of the TUR (NYSE Arca: TUR) . Steve Grasso was a buyer of TWTR ( TWTR ) . Brian Kelly was a seller of the TLT (NYSE Arca: TLT) . Guy Adami was a buyer of BX ( BX ) . Trader disclosure: On April 17, 2015, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Tim Seymour is long T, BAC, BX, C, DAL, DIS, F, GE, GM, GOOGL, INTC, EWP, SUNE, TWX, Tim's firm is long BABA, BIDU, CHL, IBN, MCD, NKE, NOK, SBUX, TUR, VALE.Steve Grasso is long AAPL, EVGN, MJNA, PFE, T, TWTR, GDX, BAC, BTU, his firm is long AMD, AMZN, NE, OXY, VALE, RIG his kids own EFG, EFA, EWJ, IJR, SPY. Brian Kelly is long BTC=, CTRL calls, GSG, BBRY, SPY puts, he is short 30-Year Bond Futures, he is short Yuan, today he covered U.S. Dollar, today he sold Euro, today he sold EEM, today he sold GLD. Guy Adami is long CELG, EXAS, INTC, Guy Adami's wife, Linda Snow, works at Merck. More From CNBC Top News and Analysis Latest News Video Personal Finance || Your first trade for Monday: The "Fast Money" traders gave their final trades of the day.
Tim Seymour was a buyer of the TUR(NYSE Arca: TUR).
Steve Grasso was a buyer of TWTR(TWTR).
Brian Kelly was a seller of the TLT(NYSE Arca: TLT).
Guy Adami was a buyer of BX(BX).
Trader disclosure: On April 17, 2015, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders:Tim Seymour is long T, BAC, BX, C, DAL, DIS, F, GE, GM, GOOGL, INTC, EWP, SUNE, TWX, Tim's firm is long BABA, BIDU, CHL, IBN, MCD, NKE, NOK, SBUX, TUR, VALE.Steve Grasso is long AAPL, EVGN, MJNA, PFE, T, TWTR, GDX, BAC, BTU, his firm is long AMD, AMZN, NE, OXY, VALE, RIG his kids own EFG, EFA, EWJ, IJR, SPY. Brian Kelly is long BTC=, CTRL calls, GSG, BBRY, SPY puts, he is short 30-Year Bond Futures, he is short Yuan, today he covered U.S. Dollar, today he sold Euro, today he sold EEM, today he sold GLD. Guy Adami is long CELG, EXAS, INTC, Guy Adami's wife, Linda Snow, works at Merck.
More From CNBC
• Top News and Analysis
• Latest News Video
• Personal Finance || Established Bitcoin Media Platform Bitcoinist.net Receives Significant VC Investment And Announces Inside Bitcoins Partnership: Trusted Bitcoin news and tech review source Bitcoinist.net is pleased to announce a significant investment to expand its operations, and a new partnership with the leader in the Bitcoin conference industry; Inside Bitcoins
LONDON, ENGLAND / ACCESSWIRE / April 16, 2015 /Bitcoinist.net, a Bitcoin media company founded in early 2014 and dedicated to being an independent voice for the cryptocurrency community, is pleased to announce an additional investment round into the company. Bitcoinist has been a cornerstone of the Bitcoin industry, providing news and reviews since early 2014, and will use this investment for an aggressive expansion plan. Bitcoinist.net's original investor, Zoltan Tokay, has invested an undisclosed amount into the site in recognition of the many milestones that the company has achieved.
For the last year, the Bitcoinist team has been at nearly every Bitcoin conference to show support and provide coverage. As the entire Bitcoin industry has grown, so has the Bitcoinist team and its reach. Earlier this month, Bitcoinist.net andInside Bitcoinsjoined together in a monumental deal. The Inside Bitcoins news section will now syndicate news articles and reviews from the Bitcoinist team, and vice versa. Scott Fargo, Editor-in-Chief at Bitcoinist.net, shared his thoughts on the new partnership:
"We atBitcoinist.netare happy to provide news and other content to Inside Bitcoins, the leader in the Bitcoin conference industry. We are looking forward to providing coverage of their world wide events as well."
Bitcoinist has already taken steps towards securing additional partnerships with key entities in the cryptocurrency industry. Look out for future announcements from the Bitcoinist team. For more information about Bitcoinist, please visit (www.bitcoinist.net). Inside Bitcoins is produced by Meckler Media. More information on MecklerMedia can be found at their website (www.mecklermedia.com).
About Bitcoinist
Bitcoinist LTD. is a private limited company registered in the United Kingdom. Since early 2014, Bitcoinist has provided industry-leading reviews, commentary, and news on cryptocurrency and technology. Notably, Bitcoinist has become a leading source for independent Bitcoin mining and cryptocurrency mining hardware reviews. Since being founded in February 2014 by Mate Tokay, Norbert Kovacs and Zoltan Tokay, Bitcoinist.net has grown into a dedicated international team.
For more information about us, please visithttp://bitcoinist.net/
Contact Info:
Name: Vivien GalEmail:press@bitcoinist.netOrganization: BitcoinistAddress: 1 Hova Villas Brighton & Hove BN3 3DH, United KingdomPhone: +36302722409
SOURCE:Bitcoinist
[Social Media Buzz]
LIVE: Profit = $915.61 (23.44 %). BUY B16.70 @ $232.78 (#BTCe). SELL @ $235.00 (#VirCurex) #bitcoin #btc - http://www.projectcoin.org || current #bitcoin price (winkdex) is $234.14, last changed Thu, 23 Apr 2015 12:10:00 GMT. queried at: 12:12:51 || #Bitcoin last trade
@bleutrade $232.50
@btcecom $232.30
@cryptsy $234.00
Set #crypto #price #alerts at http://AlertCo.in || LIVE: Profit = $897.95 (22.92 %). BUY B16.67 @ $233.90 (#BTCe). SELL @ $246.00 (#VirCurex) #bitcoin #btc - http://www.pro...
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231.27, 226.39, 219.43, 229.29, 225.85, 225.81, 236.15, 232.08, 234.93, 240.36
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Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 228.49, 229.05, 228.80, 229.71, 229.98, 232.40, 233.54, 236.82, 250.90, 249.28, 249.01, 244.61, 245.21, 243.94, 246.99, 244.30, 240.51, 242.80, 243.59, 250.99, 249.01, 257.06, 263.07, 258.62, 255.41, 256.34, 260.89, 271.91, 269.03, 266.21, 270.79, 269.23, 284.89, 293.11, 310.87, 292.05, 287.46, 285.83, 278.09, 279.47, 274.90, 273.61, 278.98, 275.83, 277.22, 276.05, 288.28, 288.70, 292.69, 293.62, 294.43, 289.59, 287.72, 284.65, 281.60, 282.61, 281.23, 285.22, 281.88, 278.58, 279.58, 261.00, 265.08, 264.47, 270.39, 266.38, 264.08, 265.68, 261.55, 258.51, 257.98, 211.08, 226.68, 235.35, 232.57, 230.39, 228.17, 210.49, 221.61, 225.83, 224.77, 231.40, 229.78, 228.76, 230.06, 228.12, 229.28, 227.18, 230.30, 235.02.
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[Bitcoin Technical Analysis for 2015-09-05]
Volume: 20671400, RSI (14-day): 47.04, 50-day EMA: 247.34, 200-day EMA: 256.19
[Wider Market Context]
None available.
[Recent News (last 7 days)]
May the force be with you: 2 Star Wars trades: Disney's(NYSE: DIS)stock may have had a rough time recently, but "Fast Money" traders see an opportunity.
Trader Guy Adami said that with the stock down more than 20 percent in the last couple of weeks, the valuation is reasonable. He also has faith the CEOBob Igerwill "figure it out."
"I understand the problems they are having on the cable sides of things, but I also think he's one of the best managers out there. You've got to give him the benefit of the doubt. If the market stabilizes in any way, it goes to $110," he said on Friday.
Trader Steve Grasso is long Disney. "I do believe it's going to work its way up and I do believe they [Disney] are the king of content."
He also said that Netflix(NASDAQ: NFLX)too could benefit from its deal with Disney. "The Netflix deal with Disney kicks in 2016, so they're going to get Star Wars, Marvel and superheroes. There's a lot of content that is going to save both stocks," he said.
Read MoreWhy it might not be time to dump Disney shares
Trader Brian Kelley said that Disney is a place to buy when the market gets stronger. "You have a great risk-to-reward ratio. You could get it up to $115. Disney is where you look when the market starts to rip," he said.
Disclosures:
STEVE GRASSO
Steve is long AAPL, BA, BAC, CC, DD, DIS, DECK, EVGN, FIT, KBH, MJNA, MU, PFE, PHM, T, TWTR, GDX, firm is long MAT, MCD His kids own EFA, EFG, EWJ, IJR, SPY.
BRIAN KELLY
Brian Kelly is long BBRY, TWTR calls, Bitcoin, U.S. Dollar; he is short British Pound, Euro, Ruble, Yen, Yuan, US Treasuries.
GUY ADAMI
Guy Adami is long CELG, EXAS, INTC, Guy Adami's wife, Linda Snow, works at Merck.
More From CNBC
• Top News and Analysis
• Latest News Video
• Personal Finance || May the force be with you: 2 Star Wars trades: Disney's (NYSE: DIS) stock may have had a rough time recently, but " Fast Money " traders see an opportunity. Trader Guy Adami said that with the stock down more than 20 percent in the last couple of weeks, the valuation is reasonable. He also has faith the CEO Bob Iger will "figure it out." "I understand the problems they are having on the cable sides of things, but I also think he's one of the best managers out there. You've got to give him the benefit of the doubt. If the market stabilizes in any way, it goes to $110," he said on Friday. Trader Steve Grasso is long Disney. "I do believe it's going to work its way up and I do believe they [Disney] are the king of content." He also said that Netflix (NASDAQ: NFLX) too could benefit from its deal with Disney. "The Netflix deal with Disney kicks in 2016, so they're going to get Star Wars, Marvel and superheroes. There's a lot of content that is going to save both stocks," he said. Read More Why it might not be time to dump Disney shares Trader Brian Kelley said that Disney is a place to buy when the market gets stronger. "You have a great risk-to-reward ratio. You could get it up to $115. Disney is where you look when the market starts to rip," he said. Disclosures: STEVE GRASSO Steve is long AAPL, BA, BAC, CC, DD, DIS, DECK, EVGN, FIT, KBH, MJNA, MU, PFE, PHM, T, TWTR, GDX, firm is long MAT, MCD His kids own EFA, EFG, EWJ, IJR, SPY. BRIAN KELLY Brian Kelly is long BBRY, TWTR calls, Bitcoin, U.S. Dollar; he is short British Pound, Euro, Ruble, Yen, Yuan, US Treasuries. GUY ADAMI Guy Adami is long CELG, EXAS, INTC, Guy Adami's wife, Linda Snow, works at Merck. More From CNBC Top News and Analysis Latest News Video Personal Finance View comments || Buying the dip? Consider these 5 stocks: Amid increased market volatility, investors looking for value should keep their eyes on five stocks trading at a discount, CNBC's "Fast Money" pros said.
Microsoft(NASDAQ: MSFT)has traded between $40 and $50 a share over the last year. "I think you probably buy it at $40 and sell it at $50," Dan Nathan said.
"There's been a premium built in to Microsoft over the last year since Nadella took over," he said. Nathan noted that there's a lot to be optimistic about, but urged investors to be mindful that it is tied to the turbulent PC market.
Tim Seymour said he sees upside potential in the aerospace products manufacture United Technologies(NYSE: UTX). "Granted China could get worse... but I think these guys are turning the ship after what was a selloff that was even kind of pre-China," he said.
But if you really want to know when the China-driven selloff is over, keep an eye on Apple(NASDAQ: AAPL).
Once investors start pilling in on Apple, it means they "fundamentally believe that maybe iPhones are going to surprise," to the upside because everyone has factored in that China, where the iPhone gets most of its profit from, is really hitting a wall, Steve Grasso said.
"Maybe they will surprise us. Maybe it's not the watch, maybe it's Apple T.V. as people are suspecting. ... But if the story has fundamentally changed than you just gotta sell Apple and I don't think we're there yet," he added.
Brian Kelly is betting on Goldman Sachs(NYSE: GS)to weather the current market storm because "they are gonna be the ones to benefit from this market volatility. "On this list, Goldman Sachs is the way to do it, at least, for the next couple of months," he said.
Cisco(NASDAQ: CSCO)is a Dow stock that you buy at a discount, while it's near 52-week lows, Brian Kelly said.
"Here is a Dow stock that trades at 10.5 times next year's expected earnings [with a] 3.25 percent dividend yield [and] half that market cap is in cash here," Kelly said, citing the company's recent management changes as additional tailwinds.
Disclosures:
Tim Seymour
Tim Seymour is long AAPL, T, BAC, DIS, F, GE, GM, GOOGL, INTC, JPM, TWTR, Tim's firm is long BABA, BIDU, MCD, NKE, NOK, SBUX, YHOO.
Dan Nathan
Dan is long QQQ Oct put spread, XBI sept put spread, TWTR, PG.
Brian Kelly
Brian Kelly is long BBRY, TWTR calls, Bitcoin, U.S. Dollar; he is short British Pound, Euro, Ruble, Yen, Yuan, US Treasurys.
Steve Grasso
Steve is long AAPL, BA, BAC, CC, DD, DIS, DECK, EVGN, FIT, KBH, MJNA, MU, PFE, PHM, T, TWTR, GDX, firm is long BP, COP, CVX, FCX, OXY, RIG, AMZN, MAT His kids own EFA, EFG, EWJ, IJR, SPY.
More From CNBC
• Top News and Analysis
• Latest News Video
• Personal Finance || Buying the dip? Consider these 5 stocks: Amid increased market volatility, investors looking for value should keep their eyes on five stocks trading at a discount, CNBC's "Fast Money" pros said. Microsoft (NASDAQ: MSFT) has traded between $40 and $50 a share over the last year. "I think you probably buy it at $40 and sell it at $50," Dan Nathan said. "There's been a premium built in to Microsoft over the last year since Nadella took over," he said. Nathan noted that there's a lot to be optimistic about, but urged investors to be mindful that it is tied to the turbulent PC market. Tim Seymour said he sees upside potential in the aerospace products manufacture United Technologies (NYSE: UTX) . "Granted China could get worse... but I think these guys are turning the ship after what was a selloff that was even kind of pre-China," he said. But if you really want to know when the China-driven selloff is over, keep an eye on Apple (NASDAQ: AAPL) . Once investors start pilling in on Apple, it means they "fundamentally believe that maybe iPhones are going to surprise," to the upside because everyone has factored in that China, where the iPhone gets most of its profit from, is really hitting a wall, Steve Grasso said. "Maybe they will surprise us. Maybe it's not the watch, maybe it's Apple T.V. as people are suspecting. ... But if the story has fundamentally changed than you just gotta sell Apple and I don't think we're there yet," he added. Brian Kelly is betting on Goldman Sachs (NYSE: GS) to weather the current market storm because "they are gonna be the ones to benefit from this market volatility. "On this list, Goldman Sachs is the way to do it, at least, for the next couple of months," he said. Cisco (NASDAQ: CSCO) is a Dow stock that you buy at a discount, while it's near 52-week lows, Brian Kelly said. "Here is a Dow stock that trades at 10.5 times next year's expected earnings [with a] 3.25 percent dividend yield [and] half that market cap is in cash here," Kelly said, citing the company's recent management changes as additional tailwinds. Story continues Disclosures: Tim Seymour Tim Seymour is long AAPL, T, BAC, DIS, F, GE, GM, GOOGL, INTC, JPM, TWTR, Tim's firm is long BABA, BIDU, MCD, NKE, NOK, SBUX, YHOO. Dan Nathan Dan is long QQQ Oct put spread, XBI sept put spread, TWTR, PG. Brian Kelly Brian Kelly is long BBRY, TWTR calls, Bitcoin, U.S. Dollar; he is short British Pound, Euro, Ruble, Yen, Yuan, US Treasurys. Steve Grasso Steve is long AAPL, BA, BAC, CC, DD, DIS, DECK, EVGN, FIT, KBH, MJNA, MU, PFE, PHM, T, TWTR, GDX, firm is long BP, COP, CVX, FCX, OXY, RIG, AMZN, MAT His kids own EFA, EFG, EWJ, IJR, SPY. More From CNBC Top News and Analysis Latest News Video Personal Finance || itBit hires former NY financial regulator's general counsel: By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - Bitcoin exchange itBit has hired Daniel Alter as the company's new general counsel and chief compliance officer, the firm announced on Wednesday. Alter, who spent three years as general counsel to the New York State Department of Financial Services (DFS), said there was no impropriety in his employment at itBit. "The New York State Public Officers law requires that I have a two-year recusal before I can appear before the New York Department of Financial Services on behalf of the company," said Alter, who left the DFS in mid-February and joined itBit last week. "And it will certainly apply to itBit. I will not step near or have any communications with the New York Department of Financial Services. Those will be handled by outside counsel or qualified compliance people within the company," added Alter, who is also an adjunct professor of law at New York University School of Law. In June, Benjamin Lawsky, former superintendent of the New York DFS also left the agency to form his own consulting firm that will advise companies on regulation and other matters. Lawsky was widely criticized by the bitcoin community that he may have generated consulting work for himself by issuing controversial regulations for virtual currency firms before he left his post. itBit also announced the appointment of Kim Petry as the company's chief financial officer. Petry joins itBit from her post as CFO of global operations and technology at Broadridge Financial. Prior to Broadridge, Petry served as the CFO and vice president of global commercial/corporate card payment at American Express Co. itBit's new appointments are the latest in a series of high-profile additions to the company's leadership team. Sheila Bair, former chairman of the Federal Deposit Insurance Company, Senator Bill Bradley, and Robert Herz, former chairman of the Financial Accounting Standards Board, joined itBit's Board of Directors in May this year. The New York-based exchange was recently granted a trust charter by the DFS. (Reporting by Gertrude Chavez-Dreyfuss; Editing by Diane Craft) || itBit hires former NY financial regulator's general counsel: By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - Bitcoin exchange itBit has hired Daniel Alter as the company's new general counsel and chief compliance officer, the firm announced on Wednesday. Alter, who spent three years as general counsel to the New York State Department of Financial Services (DFS), said there was no impropriety in his employment at itBit. "The New York State Public Officers law requires that I have a two-year recusal before I can appear before the New York Department of Financial Services on behalf of the company," said Alter, who left the DFS in mid-February and joined itBit last week. "And it will certainly apply to itBit. I will not step near or have any communications with the New York Department of Financial Services. Those will be handled by outside counsel or qualified compliance people within the company," added Alter, who is also an adjunct professor of law at New York University School of Law. In June, Benjamin Lawsky, former superintendent of the New York DFS also left the agency to form his own consulting firm that will advise companies on regulation and other matters. Lawsky was widely criticized by the bitcoin community that he may have generated consulting work for himself by issuing controversial regulations for virtual currency firms before he left his post. itBit also announced the appointment of Kim Petry as the company's chief financial officer. Petry joins itBit from her post as CFO of global operations and technology at Broadridge Financial. Prior to Broadridge, Petry served as the CFO and vice president of global commercial/corporate card payment at American Express Co. itBit's new appointments are the latest in a series of high-profile additions to the company's leadership team. Sheila Bair, former chairman of the Federal Deposit Insurance Company, Senator Bill Bradley, and Robert Herz, former chairman of the Financial Accounting Standards Board, joined itBit's Board of Directors in May this year. The New York-based exchange was recently granted a trust charter by the DFS. (Reporting by Gertrude Chavez-Dreyfuss; Editing by Diane Craft) || Bitcoin Driven HashingSpace Launches HashScanner to Maximize Bitcoin Payouts: HashingSpace Corporation (HSHS) Announced Today That It Has Launched a New Service, HashScanner, to Maximize Bitcoin Mining Capabilities. HashingSpace's Mission Is to Build out Key Infrastructure for the Global Adoption of Bitcoin and Blockchain Services with Hosted ASIC Mining
WENATCHEE, WA / ACCESSWIRE /September 1, 2015 /HashingSpace Corporation (OTCQB: HSHS), a Bitcoin ASIC mining and hosting company, announced today that the company has made available HashScanner, a proprietary service to maximize Bitcoin payouts for HashingSpace miners.
The new service allows miners to scan P2Pools to see which has the lowest latency. It also shows pools score, efficiencies, uptime, location, fees, hash rate and version number. This free service shows how HASHPOOL ranks with HashingSpace's 13 nodes located across the world. Our HashPool.com mining pools are GEO-IP load balanced through DNS to allow mining pools one address, which load balances and fails over for all of our the nodes. We also allow for individual node access.
"We are excited to bring to the Bitcoin marketplace this free HashScanner service. We feel it is well designed and user friendly. It is a definitive source for the highest paying p2pool mining pools. This allows our customers to maximize their mining capabilities and increase their profits and shows how HashPool ranks among the P2Pools," stated Timothy Roberts, CEO of HashingSpace Corporation. "This completes another goal of ours to provide intuitive, convenient, robust and secure bitcoin solutions to the Bitcoin community."
HashScanner can be accessed atwww.hashscanner.comand also through the HashingSpace mining portal atwww.hashpool.com.
HashingSpace Corporation's business will provide a wide range of services to include:
FORTRESS ONE HOSTING:Tier 3+ Enterprise Class, Green High Intensity Hosting for Blockchain
CRYPTOHASH HOSTING:Tier 1 Green High Intensity Hosting for Crypto Currency ASIC Mining
CLOUDHASH:Cloud mining servers that can be rented with full hashing power
HASHMINING:Our own Mining Farm
HASHATM:Owner and operator of Bitcoin ATM machines
HASHWALLET:Bitcoin consumer wallet for bitcoin banking and transactions
HASHPOOL:Public Stratum and P2Pool (Web/IOS/Droid)
HASHTICKER:Free Ticker for tracking Bitcoin Value (Screen Saver/Web/IOS/Droid)
HASHVAR:A wholesaler of Bitcoin servers and Bitcoin ATM machines
All company information, including stock trading, filings, and market data related to the company, is reported under the ticker symbol, HSHS.
About HashingSpace Corporation
HashingSpace Corporation is a Bitcoin ASIC mining company, hosting provider, and service provider of blockchain transactional services. HashingSpace's high density datacenters are designed to meet the demanding power and cooling needs of client hosted Bitcoin mining gear with unparalleled pricing, cooling and green energy. The Corporation is continuing to expand its datacenters to satisfy the shortage of low cost hosting facilities catering to the Bitcoin and blockchain mining and transactional verification services industry specifically.
HashingSpace Corporation manages HashWallet, a Bitcoin wallet; HashPool, a Bitcoin mining pool; and HashATM, the owner and operator of Bitcoin ATM machines. The company is a wholesaler of Bitcoin mining servers and Bitcoin ATM machines. Bitcoin businesses interested in reselling HashingSpace products and services are invited to reach out to HashingSpace Corporation for more information.
HashingSpace Corporation is headquartered in Wenatchee, Washington. For more information, visitwww.hashingspace.com.
Any unreleased services or features referenced in this or other press releases or public statements may not be currently available and may not be delivered on time or at all. Customers who purchase HashingSpace services should make their purchase decisions based upon features currently available. For more information please visithttp://www.hashingspace.comor call 1-855-HASHING (427-4464).
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based on the current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the Company's current plans and expectations, as well as future results of operations and financial condition. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Company Contact:
HashingSpace Corporation5042 Wilshire Blvd. #26900Los Angeles, CA, 90036855-HASHING (427-4464)Investor Relations:ir@hashingspace.com
SOURCE:HashingSpace Corporation || Bitcoin Driven HashingSpace Launches HashScanner to Maximize Bitcoin Payouts: HashingSpace Corporation (HSHS) Announced Today That It Has Launched a New Service, HashScanner, to Maximize Bitcoin Mining Capabilities. HashingSpace's Mission Is to Build out Key Infrastructure for the Global Adoption of Bitcoin and Blockchain Services with Hosted ASIC Mining
WENATCHEE, WA / ACCESSWIRE /September 1, 2015 /HashingSpace Corporation (OTCQB: HSHS), a Bitcoin ASIC mining and hosting company, announced today that the company has made available HashScanner, a proprietary service to maximize Bitcoin payouts for HashingSpace miners.
The new service allows miners to scan P2Pools to see which has the lowest latency. It also shows pools score, efficiencies, uptime, location, fees, hash rate and version number. This free service shows how HASHPOOL ranks with HashingSpace's 13 nodes located across the world. Our HashPool.com mining pools are GEO-IP load balanced through DNS to allow mining pools one address, which load balances and fails over for all of our the nodes. We also allow for individual node access.
"We are excited to bring to the Bitcoin marketplace this free HashScanner service. We feel it is well designed and user friendly. It is a definitive source for the highest paying p2pool mining pools. This allows our customers to maximize their mining capabilities and increase their profits and shows how HashPool ranks among the P2Pools," stated Timothy Roberts, CEO of HashingSpace Corporation. "This completes another goal of ours to provide intuitive, convenient, robust and secure bitcoin solutions to the Bitcoin community."
HashScanner can be accessed atwww.hashscanner.comand also through the HashingSpace mining portal atwww.hashpool.com.
HashingSpace Corporation's business will provide a wide range of services to include:
FORTRESS ONE HOSTING:Tier 3+ Enterprise Class, Green High Intensity Hosting for Blockchain
CRYPTOHASH HOSTING:Tier 1 Green High Intensity Hosting for Crypto Currency ASIC Mining
CLOUDHASH:Cloud mining servers that can be rented with full hashing power
HASHMINING:Our own Mining Farm
HASHATM:Owner and operator of Bitcoin ATM machines
HASHWALLET:Bitcoin consumer wallet for bitcoin banking and transactions
HASHPOOL:Public Stratum and P2Pool (Web/IOS/Droid)
HASHTICKER:Free Ticker for tracking Bitcoin Value (Screen Saver/Web/IOS/Droid)
HASHVAR:A wholesaler of Bitcoin servers and Bitcoin ATM machines
All company information, including stock trading, filings, and market data related to the company, is reported under the ticker symbol, HSHS.
About HashingSpace Corporation
HashingSpace Corporation is a Bitcoin ASIC mining company, hosting provider, and service provider of blockchain transactional services. HashingSpace's high density datacenters are designed to meet the demanding power and cooling needs of client hosted Bitcoin mining gear with unparalleled pricing, cooling and green energy. The Corporation is continuing to expand its datacenters to satisfy the shortage of low cost hosting facilities catering to the Bitcoin and blockchain mining and transactional verification services industry specifically.
HashingSpace Corporation manages HashWallet, a Bitcoin wallet; HashPool, a Bitcoin mining pool; and HashATM, the owner and operator of Bitcoin ATM machines. The company is a wholesaler of Bitcoin mining servers and Bitcoin ATM machines. Bitcoin businesses interested in reselling HashingSpace products and services are invited to reach out to HashingSpace Corporation for more information.
HashingSpace Corporation is headquartered in Wenatchee, Washington. For more information, visitwww.hashingspace.com.
Any unreleased services or features referenced in this or other press releases or public statements may not be currently available and may not be delivered on time or at all. Customers who purchase HashingSpace services should make their purchase decisions based upon features currently available. For more information please visithttp://www.hashingspace.comor call 1-855-HASHING (427-4464).
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based on the current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the Company's current plans and expectations, as well as future results of operations and financial condition. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Company Contact:
HashingSpace Corporation5042 Wilshire Blvd. #26900Los Angeles, CA, 90036855-HASHING (427-4464)Investor Relations:ir@hashingspace.com
SOURCE:HashingSpace Corporation || Bitcoin Driven HashingSpace Launches HashScanner to Maximize Bitcoin Payouts: HashingSpace Corporation ( HSHS ) Announced Today That It Has Launched a New Service, HashScanner, to Maximize Bitcoin Mining Capabilities. HashingSpace's Mission Is to Build out Key Infrastructure for the Global Adoption of Bitcoin and Blockchain Services with Hosted ASIC Mining WENATCHEE, WA / ACCESSWIRE / September 1, 2015 / HashingSpace Corporation ( OTCQB: HSHS ), a Bitcoin ASIC mining and hosting company, announced today that the company has made available HashScanner, a proprietary service to maximize Bitcoin payouts for HashingSpace miners. The new service allows miners to scan P2Pools to see which has the lowest latency. It also shows pools score, efficiencies, uptime, location, fees, hash rate and version number. This free service shows how HASHPOOL ranks with HashingSpace's 13 nodes located across the world. Our HashPool.com mining pools are GEO-IP load balanced through DNS to allow mining pools one address, which load balances and fails over for all of our the nodes. We also allow for individual node access. "We are excited to bring to the Bitcoin marketplace this free HashScanner service. We feel it is well designed and user friendly. It is a definitive source for the highest paying p2pool mining pools. This allows our customers to maximize their mining capabilities and increase their profits and shows how HashPool ranks among the P2Pools," stated Timothy Roberts, CEO of HashingSpace Corporation. "This completes another goal of ours to provide intuitive, convenient, robust and secure bitcoin solutions to the Bitcoin community." HashScanner can be accessed at www.hashscanner.com and also through the HashingSpace mining portal at www.hashpool.com . HashingSpace Corporation's business will provide a wide range of services to include: FORTRESS ONE HOSTING: Tier 3+ Enterprise Class, Green High Intensity Hosting for Blockchain CRYPTOHASH HOSTING: Tier 1 Green High Intensity Hosting for Crypto Currency ASIC Mining CLOUDHASH: Cloud mining servers that can be rented with full hashing power Story continues HASHMINING: Our own Mining Farm HASHATM: Owner and operator of Bitcoin ATM machines HASHWALLET: Bitcoin consumer wallet for bitcoin banking and transactions HASHPOOL: Public Stratum and P2Pool (Web/IOS/Droid) HASHTICKER: Free Ticker for tracking Bitcoin Value (Screen Saver/Web/IOS/Droid) HASHVAR: A wholesaler of Bitcoin servers and Bitcoin ATM machines All company information, including stock trading, filings, and market data related to the company, is reported under the ticker symbol, HSHS. About HashingSpace Corporation HashingSpace Corporation is a Bitcoin ASIC mining company, hosting provider, and service provider of blockchain transactional services. HashingSpace's high density datacenters are designed to meet the demanding power and cooling needs of client hosted Bitcoin mining gear with unparalleled pricing, cooling and green energy. The Corporation is continuing to expand its datacenters to satisfy the shortage of low cost hosting facilities catering to the Bitcoin and blockchain mining and transactional verification services industry specifically. HashingSpace Corporation manages HashWallet, a Bitcoin wallet; HashPool, a Bitcoin mining pool; and HashATM, the owner and operator of Bitcoin ATM machines. The company is a wholesaler of Bitcoin mining servers and Bitcoin ATM machines. Bitcoin businesses interested in reselling HashingSpace products and services are invited to reach out to HashingSpace Corporation for more information. HashingSpace Corporation is headquartered in Wenatchee, Washington. For more information, visit www.hashingspace.com . Any unreleased services or features referenced in this or other press releases or public statements may not be currently available and may not be delivered on time or at all. Customers who purchase HashingSpace services should make their purchase decisions based upon features currently available. For more information please visit http://www.hashingspace.com or call 1-855-HASHING (427-4464). Safe Harbor Statement This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based on the current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the Company's current plans and expectations, as well as future results of operations and financial condition. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Company Contact: HashingSpace Corporation 5042 Wilshire Blvd. #26900 Los Angeles, CA, 90036 855-HASHING (427-4464) Investor Relations: ir@hashingspace.com SOURCE: HashingSpace Corporation || Organic Food Goes Mainstream: Consumer preferences have shifted significantly over the past few years as more and more people opt for all-natural, healthy food options. Healthy food used to make up just a small isle of little known brands in the supermarket, but the niche has made its way into popular culture and now even big brands are hopping on the organic food bandwagon. Supermarkets Whole Foods Market (NASDAQ: WFM ) is a heavy-hitter when it comes to the natural foods space. The company has grown into a well known brand where health nuts pay a premium for the best ingredients and most natural foods. However, as interest in health foods grew, so did the number of competitors. Other specialty grocers like Sprouts (NASDAQ: SFM ) and Natural Grocers (NYSE: NGVC ) are expanding quickly and looking to increase their slice of the organic pie. New Entrants While new entrants in the organic foods business used to be mom and pop businesses that were working their way up, today's natural foods isle is filled with products backed by big name companies who are shifting their approach in order to attract health-conscious consumers. Tyson Foods (NYSE: TSN ) promised to stop using chicken that had been treated with antibiotics and Kraft Foods (NASDAQ: KRFT ) has removed artificial dyes from its well-known Mac & Cheese in an effort to appeal to the organic-obsessed public. Bigger Not Always Better However, the big brands aren't always able to appeal to health nuts the way smaller brands are. After Kellogg Company (NYSE: K ) acquired the Kashi brand in 2000, the healthy cereal maker went steadily downhill. Customers discovered that Kellogg was using genetically modified ingredients and a social media campaign against the brand ensued. Now, Kellogg is working to restore Kashi's image with innovative new cereals and a new marketing approach, but it is likely to be a rocky road back into consumers' good graces. See more from Benzinga Is NASDAQ Going Green? Cybersecurity Becomes An Even Bigger Problem For U.S. Firms New Dictionary Entries Suggest Bitcoin Is Going Mainstream © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Organic Food Goes Mainstream: Consumer preferences have shifted significantly over the past few years as more and more people opt for all-natural, healthy food options.
Healthy food used to make up just a small isle of little known brands in the supermarket, but the niche has made its way into popular culture and now even big brands are hopping on the organic food bandwagon.
Supermarkets
Whole Foods Market(NASDAQ:WFM) is a heavy-hitter when it comes to the natural foods space. The company has grown into a well known brand where health nuts pay a premium for the best ingredients and most natural foods. However, as interest in health foods grew, so did the number of competitors.
Other specialty grocers likeSprouts(NASDAQ:SFM) andNatural Grocers(NYSE:NGVC) are expanding quickly and looking to increase their slice of the organic pie.
New Entrants
While new entrants in the organic foods business used to be mom and pop businesses that were working their way up, today's natural foods isle is filled with products backed by big name companies who are shifting their approach in order to attract health-conscious consumers.
Tyson Foods(NYSE:TSN) promised to stop using chicken that had been treated with antibiotics andKraft Foods(NASDAQ:KRFT) has removed artificial dyes from its well-known Mac & Cheese in an effort to appeal to the organic-obsessed public.
Bigger Not Always Better
However, the big brands aren't always able to appeal to health nuts the way smaller brands are. AfterKellogg Company(NYSE:K) acquired the Kashi brand in 2000, the healthy cereal maker went steadily downhill.
Customers discovered that Kellogg was using genetically modified ingredients and a social media campaign against the brand ensued. Now, Kellogg isworking to restoreKashi's image with innovative new cereals and a new marketing approach, but it is likely to be a rocky road back into consumers' good graces.
See more from Benzinga
• Is NASDAQ Going Green?
• Cybersecurity Becomes An Even Bigger Problem For U.S. Firms
• New Dictionary Entries Suggest Bitcoin Is Going Mainstream
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Is NASDAQ Going Green?: On Monday, the marijuana-themed networking company MassRoots Inc (OTC: MSRT ) announced its plans to become the first cannabis-based company to be listed on the Nasdaq Capital Market. The company has been listed OTC since April 2015, but if it is accepted by Nasdaq, it will mark a major milestone for the company's growth. Marijuana Network MassRoots is a social networking app that connects marijuana users to industry participants like dispensaries and pot-themed companies. As the app itself doesn't handle any marijuana or facilitate sales directly, it can be used throughout the U.S., even in states where marijuana use is still illegal. Big Opportunity MassRoots Chief Executive Officer Isaac Dietrich said that the company's move onto a major market like the NASDAQ will likely help attract new investors and mark a huge step forward for both the company and the marijuana industry as a whole. In order to comply with NASDAQ's requirements MassRoots is planning to strengthen its corporate governance and take other steps in order to ensure it meets all of the criteria. However, even if the company is able to fulfill the requirements, there is no guarantee that the its application will be accepted. Investors Interested In Pot? It remains unknown how well MassRoots would be received by investors. On one hand, MassRoots would be the first company whose operations are directly linked to recreational marijuana use. While companies like GW Pharmaceuticals (NASDAQ: GWPH ) are already listed on the exchange, their research explores using elements from cannabis to create new medical treatments. MassRoots, appeals to recreational users and gives investors a chance to invest in technology which may grow alongside the industry. However, some could be wary of marijuana-linked investments as the industry's future is still uncertain as conflicting federal and state laws allow for the marijuana market to be shut down at any time. See more from Benzinga Cybersecurity Becomes An Even Bigger Problem For U.S. Firms New Dictionary Entries Suggest Bitcoin Is Going Mainstream Where Is The Market Headed? © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Is NASDAQ Going Green?: On Monday, the marijuana-themed networking companyMassRoots Inc(OTC:MSRT) announced its plans to become thefirst cannabis-based companyto be listed on the Nasdaq Capital Market.
The company has been listed OTC since April 2015, but if it is accepted by Nasdaq, it will mark a major milestone for the company's growth.
Marijuana Network
MassRoots is a social networking app that connects marijuana users to industry participants like dispensaries and pot-themed companies. As the app itself doesn't handle any marijuana or facilitate sales directly, it can be used throughout the U.S., even in states where marijuana use is still illegal.
Big Opportunity
MassRoots Chief Executive Officer Isaac Dietrich said that the company's move onto a major market like the NASDAQ will likely help attract new investors and mark a huge step forward for both the company and the marijuana industry as a whole.
In order to comply with NASDAQ's requirements MassRoots is planning to strengthen its corporate governance and take other steps in order to ensure it meets all of the criteria.
However, even if the company is able to fulfill the requirements, there is no guarantee that the its application will be accepted.
Investors Interested In Pot?
It remains unknown how well MassRoots would be received by investors. On one hand, MassRoots would be the first company whose operations are directly linked to recreational marijuana use.
While companies likeGW Pharmaceuticals(NASDAQ:GWPH) are already listed on the exchange, their research explores using elements from cannabis to create new medical treatments. MassRoots, appeals to recreational users and gives investors a chance to invest in technology which may grow alongside the industry.
However, some could be wary of marijuana-linked investments as the industry's future is still uncertain as conflicting federal and state laws allow for the marijuana market to be shut down at any time.
See more from Benzinga
• Cybersecurity Becomes An Even Bigger Problem For U.S. Firms
• New Dictionary Entries Suggest Bitcoin Is Going Mainstream
• Where Is The Market Headed?
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || SunGard And HSBC's Massive IT Glitches: Why Customers Freaked Out Last Friday: Last Friday, two major banks were reported to be experienced big IT problems, affecting thousands of customers. HSBC Leaves Thousands Without Salaries According to a recent Finextra article , a big tech issue surfaced on Friday morning when HSBC customers checking their account balances noticed their latest monthly salaries were not accounted for. Apparently, the glitch affected roughly 275,000 Bacs payments Bacs is the system used for fund transfers in the UK. Bacs released a statement assuring that it is "aware of an isolated issue that has affected one of its member organizations. The Bacs system is operating as normal and we [Bacs] are currently working with our partners to help them resolve this as quickly as possible." Related Link: Barclays Becomes First Big UK Bank To Accept Bitcoin The HSBC bank is owned by HSBC Holdings plc (ADR) (NYSE: HSBC ), which fell 0.65 percent on Friday trading and continues to tumble on Monday. BNY Mellon, Mispriced Funds Cause Panic Another third-party service provider that had trouble on Friday is SunGard. It seems like its InvestOne system, used by custody bank Bank of New York Mellon Corp (NYSE: BK ) to price funds, failed on Friday, causing panic among the banks U.S. fund management clients. The main fear was that the system failure had led to a mispricing of hundreds of funds during a week of especially high market volatility, another Finextra article explained. In a public statement, SunGard assured that, while they are confident that no data was lost as a result of the incident, calculation and processing of net asset values (NAVs) of certain mutual funds and ETFs was disrupted." They added that, despite the speculation, no external or unauthorized systems access had caused the glitch, which wasnt a result of "recent turmoil in the equity markets either. Instead, the issued derived from an unforeseen complication resulting from an operating system change carried out by SunGard last Saturday. SunGard pledges this was an isolated incident, and that it is now working with Bank of New York Mellon to resolve the problems caused. Research firm Morningstar calculated that approximately 796 funds were missing NAVs as of Wednesday. Image Credit: Public Domain See more from Benzinga Social Media Pulse: Volatility, The Fed Meeting, Oil -- And A Look At 3 Related ETFs This Analyst Loves Depomed And Its Nucynta Prescription Seabridge Gold's Stock Could Hit , Another Deposit Site Extended © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. View comments || SunGard And HSBC's Massive IT Glitches: Why Customers Freaked Out Last Friday: Last Friday, two major banks were reported to be experienced big IT problems, affecting thousands of customers.
HSBC Leaves Thousands Without Salaries
According to a recent Finextraarticle, a big tech issue surfaced on Friday morning when HSBC customers checking their account balances noticed their latest monthly salaries were not accounted for. Apparently, the glitch affected roughly 275,000 Bacs payments – Bacs is the system used for fund transfers in the UK.
Bacs released a statement assuring that it is "aware of an isolated issue that has affected one of its member organizations. The Bacs system is operating as normal and we [Bacs] are currently working with our partners to help them resolve this as quickly as possible."
Related Link:Barclays Becomes First Big UK Bank To Accept Bitcoin
The HSBC bank is owned byHSBC Holdings plc (ADR)(NYSE:HSBC), which fell 0.65 percent on Friday trading and continues to tumble on Monday.
BNY Mellon, Mispriced Funds Cause Panic
Another third-party service provider that had trouble on Friday is SunGard. It seems like its InvestOne system, used by custody bankBank of New York Mellon Corp(NYSE:BK) to price funds, failed on Friday, causing panic among the bank’s U.S. fund management clients.
The main fear was that the system failure had led to a mispricing of hundreds of funds “during a week of especially high market volatility,” another Finextraarticleexplained.
In a public statement, SunGard assured that, while they “are confident that no data was lost as a result of the incident, calculation and processing of net asset values (NAVs) of certain mutual funds and ETFs was disrupted."
They added that, despite the speculation, no “external or unauthorized systems access” had caused the glitch, which wasn’t a result of "recent turmoil in the equity markets” either. Instead, the issued derived from “an unforeseen complication resulting from an operating system change carried out by SunGard last Saturday.” SunGard pledges this was an isolated incident, and that it is now working with Bank of New York Mellon to resolve the problems caused.
Research firm Morningstar calculated that approximately 796 funds were missing NAVs as of Wednesday.
Image Credit: Public Domain
See more from Benzinga
• Social Media Pulse: Volatility, The Fed Meeting, Oil -- And A Look At 3 Related ETFs
• This Analyst Loves Depomed And Its Nucynta Prescription
• Seabridge Gold's Stock Could Hit , Another Deposit Site Extended
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Flow to Establish State-of-the-Art Customer Call Centre of Excellence Bringing More Than 300 New Jobs to Jamaica: KINGSTON, JAMAICA--(Marketwired - Aug 31, 2015) - Flow, the new Cable & Wireless Communications Plc (CWC) consumer retail brand, today announced plans to establish a new, state-of-the-art Customer Call Centre of Excellence in Kingston, Jamaica and create more than 300 full-time jobs over the next two years. The innovative Customer Call Centre of Excellence is part of the Company's bid to become the leader in service excellence and revolutionise customer experience across the Caribbean. The Customer Call Centre of Excellence, to be established in the coming months, follows the recent merger with Columbus International Inc and is part of Flow's new compelling plan to provide an enhanced customer experience. This initiative is also consistent with plans laid out by CEO Phil Bentley last year that will see C&W invest US$1.5bn over 3 years to upgrade infrastructure and overhaul service delivery throughout the Caribbean and Latin American region. "Through investments like these, we are putting the customer at the heart of the business," said Bentley. "We are committed to anticipating their needs at every contact point and to delivering a customer care experience that is unparalleled across the region. Together, with our other existing Call Centre in Trinidad, we will revolutionise customer service in the Caribbean, and be the leader in recruiting the best talent in the region. We want Flow to be a business that everyone in the Caribbean is proud of," said Bentley. Branded as an innovative Customer Call Centre of Excellence, the facility is being designed to provide customers with multiple touch points including warm and friendly service agents, Email, Virtual Chat, Mobile App and other technology-enabled support systems . Combined with increased service agent efficiencies, state-of-the-art technology tools will improve call routing and reduce call waiting time, making for an overall superior customer experience. Managing Director, Flow Jamaica, Garry Sinclair is extremely pleased that the new Centre will be located on the island. "It is a testament to the growing confidence of Jamaica as a central hub for investment, the large pool of skilled labour that exists here, and the rapid growth of the ICT sector led by Flow, that we are making this investment here in Kingston." He added, "In addition to the investment in the new Customer Call Centre of Excellence, Flow is also investing in the best mobile and fibre networks across the island to deliver more technologically advanced quad play products, better value, and superior broadband connectivity to exceed our customers' expectations." Sinclair also stated that, "We are excited to recruit the best team on the island for this Centre and we will implement an extensive training programme to deliver an incomparable customer experience." Story continues Responding to the announcement, Hon. Phillip Paulwell, Minister of Science, Technology, Energy and Mining commended Flow's decision to establish the Customer Call Centre of Excellence in Jamaica. "The establishment of Flow's Customer Call Centre of Excellence in Jamaica attests to the tremendous growth potential of the nation's ICT sector and affirms Flow's commitment to development of the local and regional economies. With the commitment to create new jobs, the investment also supports the country's goals to reduce unemployment, builds new skill sets and advances the country's vision to make Jamaica a place of choice to live, work, raise families and do business." Since 2012, the Jamaican Government has had an ongoing drive to engage the private sector in the 'Jamaica Employ' programme, which seeks to increase prospects for job seekers and to bring critical new jobs to the island. "We love doing business in Jamaica and we are happy to partner with the Government in their various initiatives, including the 'Jamaica Employ' programme," Phil Bentley concluded. About Cable & Wireless Communications: Cable & Wireless Communications Plc (CWC) is a full service communications and entertainment provider, operating in the Caribbean and Latin America. With annual sales of over $2.4bn, it operates both mobile and fixed networks, supported by submarine and terrestrial optical fibre backhaul capacity. Through the acquisition of Columbus International Inc. on 31 March 2015, CWC now delivers superior high-speed mobile data, broadband and video services. It has leading market positions in Mobile, Fixed Line, Broadband and Video consumer offers. Through its business division, CWC provides data centre hosting, domestic and international managed network services, and customised IT service solutions, utilising cloud technology to serve business and government customers. The company also operates a state-of-the-art subsea fibre optic cable network that spans more than 42,000 km -- the most extensive in the region -- as well as 38,000 km of terrestrial fibre providing wholesale and carrier backhaul capacity. CWC has more than 7,000 employees serving over 6 million customers (Mobile 3.8m; Fixed Line 1.1m; TV 460k and Broadband 665k) as well as over 125k corporate clients across 42 countries. The Company's leading brands include; LIME and Flow in the Caribbean; BTC in The Bahamas; Mas Movil in Panama; C&W Business and C&W Networks. CWC is the market leader in most products offered and territories served. It is a major contributor to local communities through its corporate social responsibility programmes. Cable & Wireless Communications' shares are quoted on the London Stock Exchange under the ticker CWC. The company is headquartered in London with its operational hub located in Miami, within close proximity to the Caribbean and Latin America. For more information please visit: www.cwc.com || Flow to Establish State-of-the-Art Customer Call Centre of Excellence Bringing More Than 300 New Jobs to Jamaica: KINGSTON, JAMAICA--(Marketwired - Aug 31, 2015) - Flow, the newCable & Wireless CommunicationsPlc (CWC) consumer retail brand, today announced plans to establish a new, state-of-the-art Customer Call Centre of Excellence in Kingston, Jamaica and create more than 300 full-time jobs over the next two years. The innovative Customer Call Centre of Excellence is part of the Company's bid to become the leader in service excellence and revolutionise customer experience across the Caribbean.
The Customer Call Centre of Excellence, to be established in the coming months, follows the recent merger with Columbus International Inc and is part of Flow's new compelling plan to provide an enhanced customer experience. This initiative is also consistent with plans laid out by CEO Phil Bentley last year that will see C&W invest US$1.5bn over 3 years to upgrade infrastructure and overhaul service delivery throughout the Caribbean and Latin American region.
"Through investments like these, we are putting the customer at the heart of the business," said Bentley. "We are committed to anticipating their needs at every contact point and to delivering a customer care experience that is unparalleled across the region. Together, with our other existing Call Centre in Trinidad, we will revolutionise customer service in the Caribbean, and be the leader in recruiting the best talent in the region. We want Flow to be a business that everyone in the Caribbean is proud of," said Bentley.
Branded as an innovative Customer Call Centre of Excellence, the facility is being designed to provide customers with multiple touch points including warm and friendly service agents, Email, Virtual Chat, Mobile App and other technology-enabled support systems.Combined with increased service agent efficiencies, state-of-the-art technology tools will improve call routing and reduce call waiting time, making for an overall superior customer experience.
Managing Director, Flow Jamaica, Garry Sinclair is extremely pleased that the new Centre will be located on the island. "It is a testament to the growing confidence of Jamaica as a central hub for investment, the large pool of skilled labour that exists here, and the rapid growth of the ICT sector led by Flow, that we are making this investment here in Kingston." He added, "In addition to the investment in the new Customer Call Centre of Excellence, Flow is also investing in the best mobile and fibre networks across the island to deliver more technologically advanced quad play products, better value, and superior broadband connectivity to exceed our customers' expectations." Sinclair also stated that, "We are excited to recruit the best team on the island for this Centre and we will implement an extensive training programme to deliver an incomparable customer experience."
Responding to the announcement, Hon. Phillip Paulwell, Minister of Science, Technology, Energy and Mining commended Flow's decision to establish the Customer Call Centre of Excellence in Jamaica. "The establishment of Flow's Customer Call Centre of Excellence in Jamaica attests to the tremendous growth potential of the nation's ICT sector and affirms Flow's commitment to development of the local and regional economies. With the commitment to create new jobs, the investment also supports the country's goals to reduce unemployment, builds new skill sets and advances the country's vision to make Jamaica a place of choice to live, work, raise families and do business."
Since 2012, the Jamaican Government has had an ongoing drive to engage the private sector in the 'Jamaica Employ' programme, which seeks to increase prospects for job seekers and to bring critical new jobs to the island. "We love doing business in Jamaica and we are happy to partner with the Government in their various initiatives, including the 'Jamaica Employ' programme," Phil Bentley concluded.
About Cable & Wireless Communications:
Cable & Wireless Communications Plc (CWC) is a full service communications and entertainment provider, operating in the Caribbean and Latin America. With annual sales of over $2.4bn, it operates both mobile and fixed networks, supported by submarine and terrestrial optical fibre backhaul capacity. Through the acquisition of Columbus International Inc. on 31 March 2015, CWC now delivers superior high-speed mobile data, broadband and video services. It has leading market positions in Mobile, Fixed Line, Broadband and Video consumer offers.
Through its business division, CWC provides data centre hosting, domestic and international managed network services, and customised IT service solutions, utilising cloud technology to serve business and government customers.
The company also operates a state-of-the-art subsea fibre optic cable network that spans more than 42,000 km -- the most extensive in the region -- as well as 38,000 km of terrestrial fibre providing wholesale and carrier backhaul capacity.
CWC has more than 7,000 employees serving over 6 million customers (Mobile 3.8m; Fixed Line 1.1m; TV 460k and Broadband 665k) as well as over 125k corporate clients across 42 countries. The Company's leading brands include; LIME and Flow in the Caribbean; BTC in The Bahamas; Mas Movil in Panama; C&W Business and C&W Networks. CWC is the market leader in most products offered and territories served. It is a major contributor to local communities through its corporate social responsibility programmes.
Cable & Wireless Communications' shares are quoted on the London Stock Exchange under the ticker CWC. The company is headquartered in London with its operational hub located in Miami, within close proximity to the Caribbean and Latin America.
For more information please visit:www.cwc.com || Barclays Becomes First Big U.K. Bank To Accept Bitcoin: Over the weekend, Barclays PLC (NYSE: BCS ) announced that it was planning to take steps toward embracing the use of bitcoin by allowing charitable donations using the cryptocurrency. The London-based bank said it was entering into a partnership with an unnamed "bitcoin exchange" in order to help charities accept bitcoin donations. Barclays And Bitcoin This is not the first time the bank has expressed interest in bitcoin. Related Link: Bitcoin Goes Ivy League Barclays has been working to understand the benefits and risks of the cryptocurrency this year by working with bitcoin startups and researchers to determine if and how digital currencies can fit within the traditional finance sector. The bank has praised blockchain, the ledger-like technology that powers bitcoin, as an innovative system that may significantly benefit traditional banking. Bitcoin Donations Barclays' decision to help charities accept bitcoin donations marks another step forward for the UK, which has been working to make London a hub for bitcoin development. The region already has a prominent place in the financial world, but lawmakers and banking officials are hoping to create an environment that promotes the expansion of bitcoin. Charities Benefit From Bitcoin Charities have been a good starting point for bitcoin adoption, as there are several benefits to accepting digital currency donations. For one, transaction costs are lower, and often nonexistent for non-profits, meaning that more of the donated money makes its way to the intended charity. By accepting bitcoin, charities also appeal to a larger audience and could draw in funding from people who otherwise may not have donated. See more from Benzinga Emerging Market Shares Battered: Is It Time To Buy? © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Barclays Becomes First Big U.K. Bank To Accept Bitcoin: Over the weekend, Barclays PLC (NYSE: BCS ) announced that it was planning to take steps toward embracing the use of bitcoin by allowing charitable donations using the cryptocurrency. The London-based bank said it was entering into a partnership with an unnamed "bitcoin exchange" in order to help charities accept bitcoin donations. Barclays And Bitcoin This is not the first time the bank has expressed interest in bitcoin. Related Link: Bitcoin Goes Ivy League Barclays has been working to understand the benefits and risks of the cryptocurrency this year by working with bitcoin startups and researchers to determine if and how digital currencies can fit within the traditional finance sector. The bank has praised blockchain, the ledger-like technology that powers bitcoin, as an innovative system that may significantly benefit traditional banking. Bitcoin Donations Barclays' decision to help charities accept bitcoin donations marks another step forward for the UK, which has been working to make London a hub for bitcoin development. The region already has a prominent place in the financial world, but lawmakers and banking officials are hoping to create an environment that promotes the expansion of bitcoin. Charities Benefit From Bitcoin Charities have been a good starting point for bitcoin adoption, as there are several benefits to accepting digital currency donations. For one, transaction costs are lower, and often nonexistent for non-profits, meaning that more of the donated money makes its way to the intended charity. By accepting bitcoin, charities also appeal to a larger audience and could draw in funding from people who otherwise may not have donated. See more from Benzinga Emerging Market Shares Battered: Is It Time To Buy? © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Barclays Becomes First Big U.K. Bank To Accept Bitcoin: Over the weekend, Barclays PLC (NYSE: BCS ) announced that it was planning to take steps toward embracing the use of bitcoin by allowing charitable donations using the cryptocurrency. The London-based bank said it was entering into a partnership with an unnamed "bitcoin exchange" in order to help charities accept bitcoin donations. Barclays And Bitcoin This is not the first time the bank has expressed interest in bitcoin. Related Link: Bitcoin Goes Ivy League Barclays has been working to understand the benefits and risks of the cryptocurrency this year by working with bitcoin startups and researchers to determine if and how digital currencies can fit within the traditional finance sector. The bank has praised blockchain, the ledger-like technology that powers bitcoin, as an innovative system that may significantly benefit traditional banking. Bitcoin Donations Barclays' decision to help charities accept bitcoin donations marks another step forward for the UK, which has been working to make London a hub for bitcoin development. The region already has a prominent place in the financial world, but lawmakers and banking officials are hoping to create an environment that promotes the expansion of bitcoin. Charities Benefit From Bitcoin Charities have been a good starting point for bitcoin adoption, as there are several benefits to accepting digital currency donations. For one, transaction costs are lower, and often nonexistent for non-profits, meaning that more of the donated money makes its way to the intended charity. By accepting bitcoin, charities also appeal to a larger audience and could draw in funding from people who otherwise may not have donated. See more from Benzinga Emerging Market Shares Battered: Is It Time To Buy? © 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
[Social Media Buzz]
#RDD / #BTC on the exchanges:
Cryptsy: Error
Bittrex: 0.00000004
Average $9.0E-6 per #reddcoin
23:00:02 || Current price: 206.77€ $BTCEUR $btc #bitcoin 2015-09-05 08:00:02 CEST || In the last hour, 9 people won 1.00 BTC playing Bitcoin lottery at http://10xbtc.com , the easiest BTC lottery, 160BTC Jackpot || Current price: 151.67£ $BTCGBP $btc #bitcoin 2015-09-05 08:00:02 BST || In the last hour, 9 people won 1.00 BTC playing Bitcoin lottery at http://10xbtc.com , the easiest BTC lottery, 160BTC...
|
239.84, 239.85, 243.61, 238.17, 238.48, 240.11, 235.23, 230.51, 230.64, 230.30
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Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 2667.76, 2810.12, 2730.40, 2754.86, 2576.48, 2529.45, 2671.78, 2809.01, 2726.45, 2757.18, 2875.34, 2718.26, 2710.67, 2804.73, 2895.89, 3252.91, 3213.94, 3378.94, 3419.94, 3342.47, 3381.28, 3650.62, 3884.71, 4073.26, 4325.13, 4181.93, 4376.63, 4331.69, 4160.62, 4193.70, 4087.66, 4001.74, 4100.52, 4151.52, 4334.68, 4371.60, 4352.40, 4382.88, 4382.66, 4579.02, 4565.30, 4703.39, 4892.01, 4578.77, 4582.96, 4236.31, 4376.53, 4597.12, 4599.88, 4228.75, 4226.06, 4122.94, 4161.27, 4130.81, 3882.59, 3154.95, 3637.52, 3625.04, 3582.88, 4065.20, 3924.97, 3905.95, 3631.04, 3630.70, 3792.40, 3682.84, 3926.07, 3892.35, 4200.67, 4174.73, 4163.07, 4338.71, 4403.74, 4409.32, 4317.48, 4229.36, 4328.41, 4370.81, 4426.89, 4610.48, 4772.02, 4781.99, 4826.48, 5446.91, 5647.21, 5831.79, 5678.19, 5725.59, 5605.51, 5590.69.
|
[Bitcoin Technical Analysis for 2017-10-18]
Volume: 2399269888, RSI (14-day): 71.22, 50-day EMA: 4489.86, 200-day EMA: 3180.22
[Wider Market Context]
Gold Price: 1279.90, Gold RSI: 43.85
Oil Price: 52.04, Oil RSI: 60.32
[Recent News (last 7 days)]
International Business Machines Corp. (IBM) Q3 Earnings Top Estimates: International Business Machines Corp. (NYSE: IBM ) posted its third-quarter results late Tuesday. International Business Machines Corp. (IBM) Source: Shutterstock The company unveiled its earnings late into the fiscal year 2017, yielding earnings of $3.30 per share, which topped Wall Street’s expectations of $3.28 per share, according to Thomson Reuters . Revenue was another strong spot for IBM, coming in at $19.15 billion versus the $18.6 billion analysts’ projected in their consensus estimate, per Thomson Reuters. However, the quarterly string of revenue loss continues for the PC maker as this marks the 22nd consecutive quarter in which the company’s revenue has declined. InvestorPlace - Stock Market News, Stock Advice & Trading Tips However, cloud revenue was a strong spot for IBM, as it came in at $4.1 billion, rising 20% year-over-year. The segment — which includes cloud delivered as a service — has a $9.4 billion annual revenue rate for cloud delivered as a service based on its third-quarter revenue, 7% higher than the previous quarter and 25% higher year-over-year. The company’s Technology Services and Cloud Platforms segment yielded $8.5 billion in revenue for the period, a 3% decline compared to the year-ago quarter. Its Cognitive Solutions segment raked in $4.4 billion, marking a 4% surge compared to the a year ago. IBM now predicts that it will finish the calendar year with at least $13.80 in earnings per share, the company said in a statement. The figure is ahead of analysts’ projections of $13.75 per share in profit. IBM shares grew 4.9% after the bell on Tuesday. More From InvestorPlace 5 Bitcoin Stocks to Buy for Low-Risk Cryptocurrency Profits 7 Stocks to Buy Before the Holidays Costco Wholesale Corporation (COST) News Is Going to Stay Bumpy for a While The post International Business Machines Corp. (IBM) Q3 Earnings Top Estimates appeared first on InvestorPlace . || International Business Machines Corp. (IBM) Q3 Earnings Top Estimates: International Business Machines Corp.(NYSE:IBM) posted its third-quarter results late Tuesday.
Source: Shutterstock
The companyunveiled its earningslate into the fiscal year 2017, yielding earnings of $3.30 per share, which topped Wall Street’s expectations of $3.28 per share, according toThomson Reuters.
Revenue was another strong spot for IBM, coming in at $19.15 billion versus the $18.6 billion analysts’ projected in their consensus estimate, per Thomson Reuters. However, the quarterly string of revenue loss continues for the PC maker as this marks the 22nd consecutive quarter in which the company’s revenue has declined.
InvestorPlace - Stock Market News, Stock Advice & Trading Tips
However, cloud revenue was a strong spot for IBM, as it came in at $4.1 billion, rising 20% year-over-year. The segment — which includes cloud delivered as a service — has a $9.4 billion annual revenue rate for cloud delivered as a service based on its third-quarter revenue, 7% higher than the previous quarter and 25% higher year-over-year.
The company’s Technology Services and Cloud Platforms segment yielded $8.5 billion in revenue for the period, a 3% decline compared to the year-ago quarter. Its Cognitive Solutions segment raked in $4.4 billion, marking a 4% surge compared to the a year ago.
IBM now predicts that it will finish the calendar year with at least $13.80 in earnings per share, the company said in a statement. The figure is ahead of analysts’ projections of $13.75 per share in profit.
IBM shares grew 4.9% after the bell on Tuesday.
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The postInternational Business Machines Corp. (IBM) Q3 Earnings Top Estimatesappeared first onInvestorPlace. || NJ Makes Huge Bid in Attempt to Land Amazon HQ in Newark: The state of New Jersey (NJ) is looking to landAmazon.com, Inc.’s(NASDAQ:AMZN) new headquarters in Newark.
Source: Shutterstock
The e-commerce retailer’s HQ2has received a great bidfrom NJ Gov. Chris Christie, offering the company up to $7 billion in tax incentives over the coming years.
Amazon would get $5 billion in tax incentives over the course of 10 years, as well as a local property tax break from the city of Newark that could save the company another $1 billion. The company is also offering to waive $1 billion in wage taxes for employees over 20 years.
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Such a move would be great for the city of Newark as it could bring in 50,000 new jobs and a $5 billion investment, turning around some of NJ’s latest struggles. The Amazon HQ2 could bring in a $9 billion boost to the state’s economy.
Other states also made moves in an attempt to bring the Amazon HQ2 their way, including the Kansas City mayor, who reviewed 1,000 products on the e-commerce website personally.
The state of Georgia offered to name a city in honor of Amazon, while Michael Jordan personally a letter to CEO Jeff Bezos. Philadelphia is offering 10 years of tax abatement, but it’s unclear how much Amazon would gain in savings through this move as the city is still ironing out those details.
AMZN stock is up a fraction of a percentage Tuesday.
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The postNJ Makes Huge Bid in Attempt to Land Amazon HQ in Newarkappeared first onInvestorPlace. || NJ Makes Huge Bid in Attempt to Land Amazon HQ in Newark: The state of New Jersey (NJ) is looking to land Amazon.com, Inc.’s (NASDAQ: AMZN ) new headquarters in Newark. NJ Source: Shutterstock The e-commerce retailer’s HQ2 has received a great bid from NJ Gov. Chris Christie, offering the company up to $7 billion in tax incentives over the coming years. Amazon would get $5 billion in tax incentives over the course of 10 years, as well as a local property tax break from the city of Newark that could save the company another $1 billion. The company is also offering to waive $1 billion in wage taxes for employees over 20 years. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Such a move would be great for the city of Newark as it could bring in 50,000 new jobs and a $5 billion investment, turning around some of NJ’s latest struggles. The Amazon HQ2 could bring in a $9 billion boost to the state’s economy. Other states also made moves in an attempt to bring the Amazon HQ2 their way, including the Kansas City mayor, who reviewed 1,000 products on the e-commerce website personally. The state of Georgia offered to name a city in honor of Amazon, while Michael Jordan personally a letter to CEO Jeff Bezos. Philadelphia is offering 10 years of tax abatement, but it’s unclear how much Amazon would gain in savings through this move as the city is still ironing out those details. AMZN stock is up a fraction of a percentage Tuesday. More From InvestorPlace 5 Bitcoin Stocks to Buy for Low-Risk Cryptocurrency Profits 7 Stocks to Buy Before the Holidays Costco Wholesale Corporation (COST) News Is Going to Stay Bumpy for a While The post NJ Makes Huge Bid in Attempt to Land Amazon HQ in Newark appeared first on InvestorPlace . || Harley-Davidson Inc (HOG) Revs Up Despite Falling Sales: Harley-Davidson Inc(NYSE:HOG) stock was riding high today despite falling sales in its third quarter of 2017.
Source:Crysis Rubel via Flickr (Modified)
Harley-Davidson Inc reported revenue of $962.14 million in the third quarter of the year. This is down from its revenue of $1.09 billion that was reported during the third quarter of 2016. Despite the drop in sales, HOG still beat Wall Street’s revenue estimate of $953.26 million for the quarter.
Harley-Davidson Inc notes that there were a few factors that affected its revenue in the third quarter of 2017. The first is the impact from recent hurricanes in the southeast and Texas on motorcycle sales in the U.S. The company also says that international motorcycle sales were down in Japan, Australia and Mexico.
InvestorPlace - Stock Market News, Stock Advice & Trading Tips
During the third quarter of 2017, Harley-Davidson Inc saw its Motorcycles and Related Products segment revenue drop due to lower motorcycle shipments. Motorcycle shipmentswere down roughly 14%in the quarter.
HOG stock was also likely helped today by earnings per share of 40 cents for the third quarter of the year. While this is down from Harley-Davidson Inc’s earnings per share of 64 cents from the same time last year, it still comes in above analysts’ 39-cent estimate for the quarter.
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Harley-Davidson Inc says that it still expects motorcycle shipments for the full year of 2017 to range from 241,000 to 246,000 units. The company notes that this represents a decrease between 6% and 8% when compared to motorcycle shipments for the prior year.
HOG stock was up 2% as of Tuesday afternoon, but is down 17% year-to-date.
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As of this writing, William White did not hold a position in any of the aforementioned securities.
The postHarley-Davidson Inc (HOG) Revs Up Despite Falling Salesappeared first onInvestorPlace. || Harley-Davidson Inc (HOG) Revs Up Despite Falling Sales: Harley-Davidson Inc (NYSE: HOG ) stock was riding high today despite falling sales in its third quarter of 2017. Harley-Davidson Inc (HOG) Revs Up Despite Falling Sales Source: Crysis Rubel via Flickr (Modified) Harley-Davidson Inc reported revenue of $962.14 million in the third quarter of the year. This is down from its revenue of $1.09 billion that was reported during the third quarter of 2016. Despite the drop in sales, HOG still beat Wall Streets revenue estimate of $953.26 million for the quarter. Harley-Davidson Inc notes that there were a few factors that affected its revenue in the third quarter of 2017. The first is the impact from recent hurricanes in the southeast and Texas on motorcycle sales in the U.S. The company also says that international motorcycle sales were down in Japan, Australia and Mexico. InvestorPlace - Stock Market News, Stock Advice & Trading Tips During the third quarter of 2017, Harley-Davidson Inc saw its Motorcycles and Related Products segment revenue drop due to lower motorcycle shipments. Motorcycle shipments were down roughly 14% in the quarter. HOG stock was also likely helped today by earnings per share of 40 cents for the third quarter of the year. While this is down from Harley-Davidson Incs earnings per share of 64 cents from the same time last year, it still comes in above analysts 39-cent estimate for the quarter. 10 Smart Money Stocks to Sell for 2018 Harley-Davidson Inc says that it still expects motorcycle shipments for the full year of 2017 to range from 241,000 to 246,000 units. The company notes that this represents a decrease between 6% and 8% when compared to motorcycle shipments for the prior year. HOG stock was up 2% as of Tuesday afternoon, but is down 17% year-to-date. More From InvestorPlace 7 Investments Every Retirement Investor Should Own 5 Bitcoin Stocks to Buy for Low-Risk Cryptocurrency Profits 7 Spinoff Stocks That Could Be Better Than Their Parents As of this writing, William White did not hold a position in any of the aforementioned securities. The post Harley-Davidson Inc (HOG) Revs Up Despite Falling Sales appeared first on InvestorPlace . || What you need to know on Wall Street today: Goldman Sachs Chairman and CEO Lloyd Blankfein speaks at the Bloomberg Global Business Forum in New York, U.S., September 20, 2017. REUTERS/Brendan McDermid Thomson Reuters Welcome to Finance Insider, Business Insider's summary of the top stories of the past 24 hours. Sign up here to get the best of Business Insider delivered direct to your inbox. Goldman Sachs and Morgan Stanley both reported third quarter earnings on Tuesday, and both beat handily. Goldman Sachs posted earnings per share of $5.02, way ahead of the $4.19 number expected by analysts . The beat was driven by a bump in investing and lending revenue, and was boosted by a strong performance in debt underwriting, where the bank goes from strength to strength . Fixed income trading remains a problem, however, with CFO Marty Chavez letting slip just how badly the commodities business is doing . Morgan Stanley crushed Wall Street expectations for third-quarter , thanks to strong performance from its dealmakers and its wealth-management unit. The investment bank reported earnings of $0.93 a share, while analysts were expecting earnings of $0.81 a share. In other finance news, an activist hedge fund backed by a former top Credit Suisse executive wants to break up the bank . Private equity firms seem to be the new titans of Wall Street, and they're crushing it this year . And a huge chunk of men who rule corporate America would prefer if everyone focused less on diversity . In a note to clients, Marc Faber, author of influential "Gloom, Doom, and Boom" report, said " thank God white people populated America, not the blacks ." In markets news, t he Dow Jones industrial average breached the 23,000 mark for the first time on Tuesday , helped by a rally in shares of UnitedHealth and Johnson & Johnson. Still, a stock market correction is " looking more likely ," according to Morgan Stanley. The shareholder list of Meredith Corporation highlights a tug-of-war in the stock market . It's time to think about active money management again , according to Legg Mason. And the next year will be very difficult for investors to predict , according to JPMorgan. Story continues Allergan’s unusual deal with a Native American tribe could be backfiring . In tech news, Netflix crushed its Q3 subscriber growth targets, blowing past them on both the domestic and international fronts by adding 5.3 million total . And Netflix's top execs all wore ugly "Stranger Things" sweaters on the earnings call, highlighting an important new business . Amazon is adding 1 million square feet of warehouse space a week , according to Jefferies, and is not slowing down anytime soon. And Microsoft CEO Satya Nadella nailed his annual report card — netting him a cool $20 million . Lastly, hilarious listing photos show what not to do when putting your house on the market . NOW WATCH: RAY DALIO: Bitcoin is a speculative bubble See Also: What you need to know on Wall Street today What you need to know on Wall Street today What you need to know on Wall Street today || What you need to know on Wall Street today: Goldman Sachs Chairman and CEO Lloyd Blankfein speaks at the Bloomberg Global Business Forum in New York, U.S., September 20, 2017. REUTERS/Brendan McDermid Thomson Reuters Welcome to Finance Insider, Business Insider's summary of the top stories of the past 24 hours. Sign up here to get the best of Business Insider delivered direct to your inbox. Goldman Sachs and Morgan Stanley both reported third quarter earnings on Tuesday, and both beat handily. Goldman Sachs posted earnings per share of $5.02, way ahead of the $4.19 number expected by analysts . The beat was driven by a bump in investing and lending revenue, and was boosted by a strong performance in debt underwriting, where the bank goes from strength to strength . Fixed income trading remains a problem, however, with CFO Marty Chavez letting slip just how badly the commodities business is doing . Morgan Stanley crushed Wall Street expectations for third-quarter , thanks to strong performance from its dealmakers and its wealth-management unit. The investment bank reported earnings of $0.93 a share, while analysts were expecting earnings of $0.81 a share. In other finance news, an activist hedge fund backed by a former top Credit Suisse executive wants to break up the bank . Private equity firms seem to be the new titans of Wall Street, and they're crushing it this year . And a huge chunk of men who rule corporate America would prefer if everyone focused less on diversity . In a note to clients, Marc Faber, author of influential "Gloom, Doom, and Boom" report, said " thank God white people populated America, not the blacks ." In markets news, t he Dow Jones industrial average breached the 23,000 mark for the first time on Tuesday , helped by a rally in shares of UnitedHealth and Johnson & Johnson. Still, a stock market correction is " looking more likely ," according to Morgan Stanley. The shareholder list of Meredith Corporation highlights a tug-of-war in the stock market . It's time to think about active money management again , according to Legg Mason. And the next year will be very difficult for investors to predict , according to JPMorgan. Story continues Allergan’s unusual deal with a Native American tribe could be backfiring . In tech news, Netflix crushed its Q3 subscriber growth targets, blowing past them on both the domestic and international fronts by adding 5.3 million total . And Netflix's top execs all wore ugly "Stranger Things" sweaters on the earnings call, highlighting an important new business . Amazon is adding 1 million square feet of warehouse space a week , according to Jefferies, and is not slowing down anytime soon. And Microsoft CEO Satya Nadella nailed his annual report card — netting him a cool $20 million . Lastly, hilarious listing photos show what not to do when putting your house on the market . NOW WATCH: RAY DALIO: Bitcoin is a speculative bubble See Also: What you need to know on Wall Street today What you need to know on Wall Street today What you need to know on Wall Street today || Forbes 400 List: 10 Richest People in America for 2017: TheForbes 400edition of the magazine was released today.
Source: Shutterstock
The publication releases an annual issue of the magazinethat examinesthe richest people in the country based on their estimated net worth. The combined worth of these 400 people who built their fortune in the U.S. is about $2.7 trillion, up from the $2.4 trillion amassed last year.
There were 169 billionaires who did not make theForbes 400due to how many Americans have reached the $1-billion mark. Unsurprisingly, a bulk of the list was made up of tech wizards and bankers.
InvestorPlace - Stock Market News, Stock Advice & Trading Tips
“America’s richest are richer than ever. The minimum net worth to make the Forbes list of 400 wealthiest Americans is now a record $2 billion,” said Luisa Kroll and Kerry Dolan, assistant managing editors of wealth at Forbes Media.
President Donald Trump came in at number 248 as he’s down $600 million to a net worth of $3.1 billion as the New York retail and office real estate market has suffered a dip. He was no. 156 last year.
Here’s the top 10:
Bill Gates: $89 billion, up $8 billionJeff Bezos: $81.5 billion, up $14.5 billionWarren Buffett: $78 billion, up $12.5 billionMark Zuckerberg: $71 billion, up $15.5 billionLarry Ellison: $59 billion, up $9.7 billion.Charles Koch: $48.5 billion, up $6.5 billionDavid Koch: $48.5 billion, up $6.5 billionMichael Bloomberg: $46.8 billion, up $1.8 billionLarry Page: $44.6 billion, up $6.1 billionSergey Brin: $43.4 billion, up $5.9 billion
There were 50 women in the top 400, compared to 51 last year.
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The postForbes 400 List: 10 Richest People in America for 2017appeared first onInvestorPlace. || Forbes 400 List: 10 Richest People in America for 2017: The Forbes 400 edition of the magazine was released today. Forbes 400 Source: Shutterstock The publication releases an annual issue of the magazine that examines the richest people in the country based on their estimated net worth. The combined worth of these 400 people who built their fortune in the U.S. is about $2.7 trillion, up from the $2.4 trillion amassed last year. There were 169 billionaires who did not make the Forbes 400 due to how many Americans have reached the $1-billion mark. Unsurprisingly, a bulk of the list was made up of tech wizards and bankers. InvestorPlace - Stock Market News, Stock Advice & Trading Tips “America’s richest are richer than ever. The minimum net worth to make the Forbes list of 400 wealthiest Americans is now a record $2 billion,” said Luisa Kroll and Kerry Dolan, assistant managing editors of wealth at Forbes Media. President Donald Trump came in at number 248 as he’s down $600 million to a net worth of $3.1 billion as the New York retail and office real estate market has suffered a dip. He was no. 156 last year. Here’s the top 10: Bill Gates : $89 billion, up $8 billion Jeff Bezos : $81.5 billion, up $14.5 billion Warren Buffett : $78 billion, up $12.5 billion Mark Zuckerberg : $71 billion, up $15.5 billion Larry Ellison : $59 billion, up $9.7 billion. Charles Koch : $48.5 billion, up $6.5 billion David Koch : $48.5 billion, up $6.5 billion Michael Bloomberg : $46.8 billion, up $1.8 billion Larry Page : $44.6 billion, up $6.1 billion Sergey Brin : $43.4 billion, up $5.9 billion There were 50 women in the top 400, compared to 51 last year. More From InvestorPlace 5 Bitcoin Stocks to Buy for Low-Risk Cryptocurrency Profits 7 Stocks to Buy Before the Holidays Costco Wholesale Corporation (COST) News Is Going to Stay Bumpy for a While The post Forbes 400 List: 10 Richest People in America for 2017 appeared first on InvestorPlace . || Bitcoin engineer Jameson Lopp SWATted by angry crypto fans: An engineer forBitGo, Jameson Lopp, faced down a horde of police officers with rifles at his home in Durham, North Carolina after someone sent an anonymous tip regarding a hostage situation at his home. The engineer has been vocal on Twitter about upcoming changes in the protocol.
"They shut down most of my neighborhood," he said. "There were dozens of patrol units, a SWAT team, mobile command post, a fire truck, and paramedics," he said. "It was a huge waste of public resources."
Lopp has been vocal in the hard fork debate and has worked at BitGo for almost three years and a Bitcoin enthusiast for five years. The 911 caller who forced the police to act told a dispatcher that he washolding is family hostage and gave Lopp's address.
I asked him what he had been talking about recently and he felt most of his online comments were innocuous. He has, however, made online enemies thanks to his views.
"Same old same old: Bitcoin philosophy and scaling debate arguments. A few of the more extreme cases think I'm some kind of manipulative monster," said Lopp. "The attacker never made any references to my public debates, so it's not a certainty that they were motivated by them. They may simply want to extort me, similar to what has happened to several other prominent Bitcoin folks."
Lopp has appeared on many TechCrunch podcasts aboutBitcoinincludinga new one we may launch this year.
"The asymmetry here is disturbing," he said. "A single phone call can eat up tens if not hundreds of thousands of dollars in public resources just to determine whether or not a threat is real."
[Image Source: Vesnaandjic/Getty Images] || Bitcoin engineer Jameson Lopp SWATted by angry crypto fans: An engineer forBitGo, Jameson Lopp, faced down a horde of police officers with rifles at his home in Durham, North Carolina after someone sent an anonymous tip regarding a hostage situation at his home. The engineer has been vocal on Twitter about upcoming changes in the protocol.
"They shut down most of my neighborhood," he said. "There were dozens of patrol units, a SWAT team, mobile command post, a fire truck, and paramedics," he said. "It was a huge waste of public resources."
Lopp has been vocal in the hard fork debate and has worked at BitGo for almost three years and a Bitcoin enthusiast for five years. The 911 caller who forced the police to act told a dispatcher that he washolding is family hostage and gave Lopp's address.
I asked him what he had been talking about recently and he felt most of his online comments were innocuous. He has, however, made online enemies thanks to his views.
"Same old same old: Bitcoin philosophy and scaling debate arguments. A few of the more extreme cases think I'm some kind of manipulative monster," said Lopp. "The attacker never made any references to my public debates, so it's not a certainty that they were motivated by them. They may simply want to extort me, similar to what has happened to several other prominent Bitcoin folks."
Lopp has appeared on many TechCrunch podcasts aboutBitcoinincludinga new one we may launch this year.
"The asymmetry here is disturbing," he said. "A single phone call can eat up tens if not hundreds of thousands of dollars in public resources just to determine whether or not a threat is real."
[Image Source: Vesnaandjic/Getty Images] || Bitcoin engineer Jameson Lopp SWATted by angry crypto fans: An engineer for BitGo , Jameson Lopp, faced down a horde of police officers with rifles at his home in Durham, North Carolina after someone sent an anonymous tip regarding a hostage situation at his home. The engineer has been vocal on Twitter about upcoming changes in the protocol. "They shut down most of my neighborhood," he said. "There were dozens of patrol units, a SWAT team, mobile command post, a fire truck, and paramedics," he said. "It was a huge waste of public resources." Lopp has been vocal in the hard fork debate and has worked at BitGo for almost three years and a Bitcoin enthusiast for five years. The 911 caller who forced the police to act told a dispatcher that he was holding is family hostage and gave Lopp's address . I asked him what he had been talking about recently and he felt most of his online comments were innocuous. He has, however, made online enemies thanks to his views. "Same old same old: Bitcoin philosophy and scaling debate arguments. A few of the more extreme cases think I'm some kind of manipulative monster," said Lopp. "The attacker never made any references to my public debates, so it's not a certainty that they were motivated by them. They may simply want to extort me, similar to what has happened to several other prominent Bitcoin folks." Lopp has appeared on many TechCrunch podcasts about Bitcoin including a new one we may launch this year. "The asymmetry here is disturbing," he said. "A single phone call can eat up tens if not hundreds of thousands of dollars in public resources just to determine whether or not a threat is real." [Image Source: Vesnaandjic/Getty Images] || Goldman Sachs Group Inc (GS) Stock Drops Despite Q3 Earnings Beat: Goldman Sachs Group Inc(NYSE:GS) stock took a hit on Tuesday despite reporting an earnings beat for the third quarter of 2017.
Source: Shutterstock
Goldman Sachs Group Inc reported earnings per share of $5.02 for the third quarter of the year. This is an increase over its earnings per share of $4.88 from the same time last year. It also came in above Wall Street’s earnings per share estimate of $4.17, but wasn’t enough to combat GS stock’s decline today.
Goldman Sachs Group Inc’s revenue of $8.32 billion would also typically be good news for GS stock. It is up from revenue of $8.17 billion in the third quarter of 2016. The financial company’s revenue also beat analysts’ estimate of $7.54 billion for the quarter.
InvestorPlace - Stock Market News, Stock Advice & Trading Tips
It’s likely that GS stock was hurt today by Institutional Client Services results in its third quarter of 2017. The company notes that its Institutional Client Services revenue was $3.12 billion, which isdown 17%from the same period in the year prior.
Goldman Sachs also reported Fixed Income, Currency and Commodities Client Execution revenue of $1.45 billion for the most recent quarter. This represents a 26% drop from what was reported in the third quarter of 2016. GS attributes this to lower revenue in “commodities, interest rate products and credit products and lower net revenues in currencies.”
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Goldman Sachs Group Inc notes that its Equities revenue for the third quarter of 2017 was $1.67 billion. This is down 7% from the Equities revenue that the company reported in the same quarter of the previous year. GS says that this was caused by lower revenue in equities client execution.
GS stock was down 1% as of Tuesday morning.
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As of this writing, William White did not hold a position in any of the aforementioned securities.
The postGoldman Sachs Group Inc (GS) Stock Drops Despite Q3 Earnings Beatappeared first onInvestorPlace. || Goldman Sachs Group Inc (GS) Stock Drops Despite Q3 Earnings Beat: Goldman Sachs Group Inc (NYSE: GS ) stock took a hit on Tuesday despite reporting an earnings beat for the third quarter of 2017. Goldman Sachs Group Inc (GS) Stock Drops Despite Q3 Earnings Beat Source: Shutterstock Goldman Sachs Group Inc reported earnings per share of $5.02 for the third quarter of the year. This is an increase over its earnings per share of $4.88 from the same time last year. It also came in above Wall Street’s earnings per share estimate of $4.17, but wasn’t enough to combat GS stock’s decline today. Goldman Sachs Group Inc’s revenue of $8.32 billion would also typically be good news for GS stock. It is up from revenue of $8.17 billion in the third quarter of 2016. The financial company’s revenue also beat analysts’ estimate of $7.54 billion for the quarter. InvestorPlace - Stock Market News, Stock Advice & Trading Tips It’s likely that GS stock was hurt today by Institutional Client Services results in its third quarter of 2017. The company notes that its Institutional Client Services revenue was $3.12 billion, which is down 17% from the same period in the year prior. Goldman Sachs also reported Fixed Income, Currency and Commodities Client Execution revenue of $1.45 billion for the most recent quarter. This represents a 26% drop from what was reported in the third quarter of 2016. GS attributes this to lower revenue in “commodities, interest rate products and credit products and lower net revenues in currencies.” 10 Best Stocks to Buy and Hold for the Next Decade Goldman Sachs Group Inc notes that its Equities revenue for the third quarter of 2017 was $1.67 billion. This is down 7% from the Equities revenue that the company reported in the same quarter of the previous year. GS says that this was caused by lower revenue in equities client execution. GS stock was down 1% as of Tuesday morning. More From InvestorPlace 5 Bitcoin Stocks to Buy for Low-Risk Cryptocurrency Profits 7 Spinoff Stocks That Could Be Better Than Their Parents 10 Smart Money Stocks to Sell for 2018 As of this writing, William White did not hold a position in any of the aforementioned securities. The post Goldman Sachs Group Inc (GS) Stock Drops Despite Q3 Earnings Beat appeared first on InvestorPlace . View comments || Cramer: Analysts wonder whether Netflix's strong growth can last: Netflix (NASDAQ: NFLX) 's stock wasn't rising sharply Tuesday because Wall Street analysts are wondering how long the video streaming giant's growth can continue, CNBC's Jim Cramer said. There was also "a little bit too much enthusiasm" after Monday's closing bell, when Netflix reported earnings that beat forecasts, Cramer said Tuesday on " Squawk on the Street ." Shares of Netflix were up slightly Tuesday morning, trading around $203 per share. In its earnings statement Monday, Netflix posted revenue that was essentially in line with forecasts, and reported better-than-expected subscriber growth even as competition intensifies in the streaming video content market. In a post-earnings conference call, CEO Reed Hastings said the company's focus is on "doing even better content, getting better partnerships, better mobile streaming.""The overall unbelievable theme of the analysts — even though they all raise price targets — is how long can this go on?" Cramer said. "I point out it can keep going on because it's an $80 billion company that represents the only international TV network worth $100 billion.""Let the traders knock it down and long knives be out and then pick it up," Cramer added. Wall Street firm Piper Jaffray reiterated its overweight rating for Netflix on Tuesday and raised its price target on the shares to $240 from $215. Goldman Sachs also increased price its forecast. Also watch: Netflix places big bet on content play Netflix (NASDAQ: NFLX) 's stock wasn't rising sharply Tuesday because Wall Street analysts are wondering how long the video streaming giant's growth can continue, CNBC's Jim Cramer said. There was also "a little bit too much enthusiasm" after Monday's closing bell, when Netflix reported earnings that beat forecasts, Cramer said Tuesday on " Squawk on the Street ." Shares of Netflix were up slightly Tuesday morning, trading around $203 per share. In its earnings statement Monday, Netflix posted revenue that was essentially in line with forecasts, and reported better-than-expected subscriber growth even as competition intensifies in the streaming video content market. In a post-earnings conference call, CEO Reed Hastings said the company's focus is on "doing even better content, getting better partnerships, better mobile streaming." "The overall unbelievable theme of the analysts — even though they all raise price targets — is how long can this go on?" Cramer said. "I point out it can keep going on because it's an $80 billion company that represents the only international TV network worth $100 billion." "Let the traders knock it down and long knives be out and then pick it up," Cramer added. Wall Street firm Piper Jaffray reiterated its overweight rating for Netflix on Tuesday and raised its price target on the shares to $240 from $215. Goldman Sachs also increased price its forecast. Also watch: Netflix places big bet on content playMore From CNBC
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• SoftBank's deal to invest in Uber 'likely' within week, Arianna Huffington says || Cramer: Analysts wonder whether Netflix's strong growth can last: Netflix (NASDAQ: NFLX) 's stock wasn't rising sharply Tuesday because Wall Street analysts are wondering how long the video streaming giant's growth can continue, CNBC's Jim Cramer said. There was also "a little bit too much enthusiasm" after Monday's closing bell, when Netflix reported earnings that beat forecasts, Cramer said Tuesday on " Squawk on the Street ." Shares of Netflix were up slightly Tuesday morning, trading around $203 per share. In its earnings statement Monday, Netflix posted revenue that was essentially in line with forecasts, and reported better-than-expected subscriber growth even as competition intensifies in the streaming video content market. In a post-earnings conference call, CEO Reed Hastings said the company's focus is on "doing even better content, getting better partnerships, better mobile streaming.""The overall unbelievable theme of the analysts — even though they all raise price targets — is how long can this go on?" Cramer said. "I point out it can keep going on because it's an $80 billion company that represents the only international TV network worth $100 billion.""Let the traders knock it down and long knives be out and then pick it up," Cramer added. Wall Street firm Piper Jaffray reiterated its overweight rating for Netflix on Tuesday and raised its price target on the shares to $240 from $215. Goldman Sachs also increased price its forecast. Also watch: Netflix places big bet on content play Netflix (NASDAQ: NFLX) 's stock wasn't rising sharply Tuesday because Wall Street analysts are wondering how long the video streaming giant's growth can continue, CNBC's Jim Cramer said. There was also "a little bit too much enthusiasm" after Monday's closing bell, when Netflix reported earnings that beat forecasts, Cramer said Tuesday on " Squawk on the Street ." Shares of Netflix were up slightly Tuesday morning, trading around $203 per share. In its earnings statement Monday, Netflix posted revenue that was essentially in line with forecasts, and reported better-than-expected subscriber growth even as competition intensifies in the streaming video content market. In a post-earnings conference call, CEO Reed Hastings said the company's focus is on "doing even better content, getting better partnerships, better mobile streaming." "The overall unbelievable theme of the analysts — even though they all raise price targets — is how long can this go on?" Cramer said. "I point out it can keep going on because it's an $80 billion company that represents the only international TV network worth $100 billion." "Let the traders knock it down and long knives be out and then pick it up," Cramer added. Wall Street firm Piper Jaffray reiterated its overweight rating for Netflix on Tuesday and raised its price target on the shares to $240 from $215. Goldman Sachs also increased price its forecast. Also watch: Netflix places big bet on content play More From CNBC Bitcoin a 'speculative bubble' and unlikely to become a real currency, UBS says Google's new Pixel phones are kind of boring and you can get more for your money SoftBank's deal to invest in Uber 'likely' within week, Arianna Huffington says || Data Sheet—How Top VCs Are Betting on Blockchain: (Today’s essay from Robert Hackett offers insight into the latest trends in VC digital currency investing.)
Venture capital firms have been plunking down millions of dollars in funding on startups pitchingblockchaintech, the innovative accounting ledgers that underpincryptocurrencieslike bitcoin and also power nifty, distributed databases.
As interest in all things crypto heats up,initial coin offerings—a crowdsourced way for crypto projects to raise money—have become all the rage, allowing fledgling projects to raise ample funds without needing institutional backers. Despite the democratizing trend, VC firms are on track to ink 77 traditional deals with blockchain startups by year’s end—more than any year prior.
So far, VC firms have struck 59 deals this year, already exceeding the 57 signed last year.
Now you can see where the biggest brand name investors’ purses intersect. CB Insights, a market research firm tracking the venture capital industry, mapped out the relationships between some of the most prestigious VC dealmakers in anew reportpreviewed exclusively withFortune.
Many of the firms will be familiar to people who follow the money in Silicon Valley and beyond: Sequoia Capital, Union Square Ventures, and Andreessen Horowitz among them. The diagram below reveals which traditional equity deals these firms have in common.
Several trends become clear as you peruse the ties. Andreessen Horowitz likes to invest alongside Union Square Ventures, as seen in joint fundings inCoinbase, the most well-known crypto broker; Polychain Capital, a top crypto hedge fund; and others. Sequoia, meanwhile, places bets more sparingly, backing only Bitmain Technologies, a Bitcoin miner, and Koinify, a since-shuttered crowdfunding platform.
Note that thebiggest-nameinvestors included above are not necessarily thebiggestinvestors in blockchain tech.Digital Currency Group, an investment firm led byBarry Silbert, founder of SecondMarket (an exchange for private company stock) and alumni ofFortune’s40 Under 40 list, leads the pack with more than 100 investments in roughly 75 blockchain companies. Blockchain Capital lands in the runner-up spot, with Draper Associates placing third in terms of number of deals.
Check out theCB Insights reportfor more interesting blockchain VC tidbits. And tune intothis October 26 webinar, where CB Insights analyst Arieh Levy, the report’s author, and I will provide a rundown of the blockchain landscape as well as field questions from attendees.
Moar bitcoin news. To go with Robert’s essay, there’s plenty of bitcoin and blockchain headlines, as well. Bain Capital Ventures and Andreessen Horowitz arehelpingstartupIntangible Labsraise money in an ICO via a new cryptocurrency called basecoin.Digital Asset, a startup focused on using the blockchain in the finance industry,raised$40 million the old-fashioned way by selling equity stakes to private investors. Fed chairmanBen Bernankegave the finance establishment viewin a talkon Monday, saying bitcoin itself would fail but the underlying technology was great. “The Fed, the Bank of England, and Japan are very supportive of these technologies because they’ll improve payment systems,” Bernanke said.
Want to know what’s really cool?Tired of reading about how every startup you’ve ever heard is getting backing from Masayoshi Son’s almost-$100 billionVision Fund? Prepare to be even more annoyed. Recodereportsthe Japanese billionaire is already in “early planning discussions” to raise a second, even larger fund.
L’eggo of my Eggo.It was another strong quarter forNetflix, as the most popular Internet streaming servicereportedrevenue increased 30% to $3 billion and it reached 109 million subscribers worldwide. Netflix also said it may spend as much as $8 billion on content next year. Netflix shares were about unchanged in premarket trading on Tuesday. More importantly to some, the company alsodebuteda new video promoting the second season ofStranger Things.
Bad idea.Google Mapsdumped an experimental feature that showed how many calories a user might burn by walking a route instead of driving,TechCrunchreported. Controversy arose because the Maps app also translated the amount of calories into an equivalent number of mini cupcakes.
Loophole.TheSupreme Courtdecidedto hear an appeal of a leading email privacy case. Last year, a lower court ruled that federal prosecutors could not use a domestic search warrant to force Microsoft to turn over emails stored on servers in Ireland as part of a drug investigation.
Secrets uncovered.Appleexplored acquiring a startup that builds and runs on-site medical clinics for large companies, CNBCreported. But after months of talks to buy startup Crossover Health, Apple demurred. Asked about health care last month, CEO Tom Cook toldFortune: “There’s a lot of stuff I can’t tell you about that we’re working on.”
Unsafe at any speed.Are you long or short betting on stricter drone regulation? It’s a day for those pro-regulatory side, as Canadarevealedthat a drone had collided with a commercial aircraft for the first time there. No one was injured in the collision near the Jean Lesage International Airport in Québec City.
Big ego battle.A company backed by Tony Fadell, who helped invent the iPod,is suingEssential, the phone startup created by Andy Rubin, who helped invent Android. Keyssa, Fadell’s wireless communications startup, says Essential stole some of its proprietary transmission technology.
You got the headlines yesterdayabout the newly discovered security flaw in the key Wi-Fi security protocol WPA2. Maybe you also read about the rush to issue patches, with Microsoft Windows getting a quick fix and Apple promising one for its various operating systems. Google may take a little longer. But what exactly is the flaw and how could it possibly have remained undiscovered for so many years? Johns Hopkins University professor Matthew Green both knows about cryptography and how to write a clear essay. Heexplains:
The critical problem is that while people looked closely at the two components — handshake and encryption protocol — in isolation, apparently nobody looked closely at the two components as they were connected together. I’m pretty sure there’s an entire geek meme about this.
Of course, the reason nobody looked closely at this stuff is that doing so is just plain hard. Protocols have an exponential number of possible cases to analyze, and we’re just about at the limit of the complexity of protocols that human beings can truly reason about, or that peer-reviewers can verify. The more pieces you add to the mix, the worse this problem gets.
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Not that you should worryabout financial market bubbles after a lot of talk about bitcoin, but this Thursday will mark the 30th anniversary of Black Monday, the day the Dow Jones Industrial Average plunged a record 23% in a single session. Bloomberg hasan interesting collectionof recollections, including from author Michael Lewis, who worked on Wall Street at the time as a bond salesman.
People were screaming and going absolutely crazy in ways I’d never seen before. It was the first time in my career at Salomon Brothers where I was actually interested in standing beside the equity department and watching these people do their job.
This edition of Data Sheet was curated byAaron Pressman. Findpastissues, and sign up for otherFortunenewsletters. || Data Sheet—How Top VCs Are Betting on Blockchain: (Today’s essay from Robert Hackett offers insight into the latest trends in VC digital currency investing.) Venture capital firms have been plunking down millions of dollars in funding on startups pitching blockchain tech, the innovative accounting ledgers that underpin cryptocurrencies like bitcoin and also power nifty, distributed databases. As interest in all things crypto heats up, initial coin offerings —a crowdsourced way for crypto projects to raise money—have become all the rage, allowing fledgling projects to raise ample funds without needing institutional backers. Despite the democratizing trend, VC firms are on track to ink 77 traditional deals with blockchain startups by year’s end—more than any year prior. So far, VC firms have struck 59 deals this year, already exceeding the 57 signed last year. Now you can see where the biggest brand name investors’ purses intersect. CB Insights, a market research firm tracking the venture capital industry, mapped out the relationships between some of the most prestigious VC dealmakers in a new report previewed exclusively with Fortune . Many of the firms will be familiar to people who follow the money in Silicon Valley and beyond: Sequoia Capital, Union Square Ventures, and Andreessen Horowitz among them. The diagram below reveals which traditional equity deals these firms have in common. Several trends become clear as you peruse the ties. Andreessen Horowitz likes to invest alongside Union Square Ventures, as seen in joint fundings in Coinbase , the most well-known crypto broker; Polychain Capital, a top crypto hedge fund; and others. Sequoia, meanwhile, places bets more sparingly, backing only Bitmain Technologies, a Bitcoin miner, and Koinify, a since-shuttered crowdfunding platform. Note that the biggest-name investors included above are not necessarily the biggest investors in blockchain tech. Digital Currency Group , an investment firm led by Barry Silbert , founder of SecondMarket (an exchange for private company stock) and alumni of Fortune’s 40 Under 40 list , leads the pack with more than 100 investments in roughly 75 blockchain companies. Blockchain Capital lands in the runner-up spot, with Draper Associates placing third in terms of number of deals. Story continues Check out the CB Insights report for more interesting blockchain VC tidbits. And tune into this October 26 webinar , where CB Insights analyst Arieh Levy, the report’s author, and I will provide a rundown of the blockchain landscape as well as field questions from attendees. NEWSWORTHY Moar bitcoin news . To go with Robert’s essay, there’s plenty of bitcoin and blockchain headlines, as well. Bain Capital Ventures and Andreessen Horowitz are helping startup Intangible Labs raise money in an ICO via a new cryptocurrency called basecoin. Digital Asset , a startup focused on using the blockchain in the finance industry, raised $40 million the old-fashioned way by selling equity stakes to private investors. Fed chairman Ben Bernanke gave the finance establishment view in a talk on Monday, saying bitcoin itself would fail but the underlying technology was great. “The Fed, the Bank of England, and Japan are very supportive of these technologies because they’ll improve payment systems,” Bernanke said. Want to know what’s really cool? Tired of reading about how every startup you’ve ever heard is getting backing from Masayoshi Son’s almost-$100 billion Vision Fund ? Prepare to be even more annoyed. Recode reports the Japanese billionaire is already in “early planning discussions” to raise a second, even larger fund. L’eggo of my Eggo. It was another strong quarter for Netflix , as the most popular Internet streaming service reported revenue increased 30% to $3 billion and it reached 109 million subscribers worldwide. Netflix also said it may spend as much as $8 billion on content next year. Netflix shares were about unchanged in premarket trading on Tuesday. More importantly to some, the company also debuted a new video promoting the second season of Stranger Things . Bad idea. Google Maps dumped an experimental feature that showed how many calories a user might burn by walking a route instead of driving, TechCrunch reported. Controversy arose because the Maps app also translated the amount of calories into an equivalent number of mini cupcakes. Loophole. The Supreme Court decided to hear an appeal of a leading email privacy case. Last year, a lower court ruled that federal prosecutors could not use a domestic search warrant to force Microsoft to turn over emails stored on servers in Ireland as part of a drug investigation. Secrets uncovered. Apple explored acquiring a startup that builds and runs on-site medical clinics for large companies, CNBC reported . But after months of talks to buy startup Crossover Health, Apple demurred. Asked about health care last month, CEO Tom Cook told Fortune : “There’s a lot of stuff I can’t tell you about that we’re working on.” Unsafe at any speed. Are you long or short betting on stricter drone regulation? It’s a day for those pro-regulatory side, as Canada revealed that a drone had collided with a commercial aircraft for the first time there. No one was injured in the collision near the Jean Lesage International Airport in Québec City. Big ego battle. A company backed by Tony Fadell, who helped invent the iPod, is suing Essential , the phone startup created by Andy Rubin, who helped invent Android. Keyssa, Fadell’s wireless communications startup, says Essential stole some of its proprietary transmission technology. FOOD FOR THOUGHT You got the headlines yesterday about the newly discovered security flaw in the key Wi-Fi security protocol WPA2. Maybe you also read about the rush to issue patches, with Microsoft Windows getting a quick fix and Apple promising one for its various operating systems. Google may take a little longer. But what exactly is the flaw and how could it possibly have remained undiscovered for so many years? Johns Hopkins University professor Matthew Green both knows about cryptography and how to write a clear essay. He explains : The critical problem is that while people looked closely at the two components — handshake and encryption protocol — in isolation, apparently nobody looked closely at the two components as they were connected together. I’m pretty sure there’s an entire geek meme about this. Of course, the reason nobody looked closely at this stuff is that doing so is just plain hard. Protocols have an exponential number of possible cases to analyze, and we’re just about at the limit of the complexity of protocols that human beings can truly reason about, or that peer-reviewers can verify. The more pieces you add to the mix, the worse this problem gets. IN CASE YOU MISSED IT Exclusive: This Startup Just Nabbed $5 Million to Solve a Thorny Software Problem By Barb Darrow Facebook Acquires ‘tbh,’ an Anonymous App for Teens By Jonathan Vanian Elon Musk’s Tesla Powerwalls Have Landed in Puerto Rico By John Patrick Pullen This Unexpected City Says It Has Everything Amazon Wants for a New Headquarters By Lucinda Shen Here’s How Amazon and Boston Could Win Together By Barb Darrow Why T-Mobile Merger Talk Isn’t Helping Boost Sprint’s Stock Price By Aaron Pressman Facebook Plans to Hire People With National Security Clearances By Don Reisinger BEFORE YOU GO Not that you should worry about financial market bubbles after a lot of talk about bitcoin, but this Thursday will mark the 30th anniversary of Black Monday, the day the Dow Jones Industrial Average plunged a record 23% in a single session. Bloomberg has an interesting collection of recollections, including from author Michael Lewis, who worked on Wall Street at the time as a bond salesman. People were screaming and going absolutely crazy in ways I’d never seen before. It was the first time in my career at Salomon Brothers where I was actually interested in standing beside the equity department and watching these people do their job. This edition of Data Sheet was curated by Aaron Pressman . Find past issues, and sign up for other Fortune newsletters . || USDMXN ready to take profits, EURJPY to go lower and USDCAD to break from the sideways trend: Three technical setupson Tuesday:
• USDMXN– We can see first signs of the exhaustion here. After breaking the upper line of the triangle, the price surged higher. Now we are approaching the 38,2% Fibonacci where we can get a taking profit action form the buyers. That resistance is additionally strengthened by the highs from March, April, and May.
• EURJPYis very close to triggering a major sell signal after the price broke the up trendline and increased the pressure on the 131.85 support. A breakout here should increase the odds for a further drop.
• USDCADis ignoring a great sell opportunity caused by the head and shoulders pattern and is heading higher to test the down trendline and the upper line of the recent sideways trend. Patience wins the day here and we should wait for the breakout before opening any position.
This article is written by Tomasz Wisniewski, a senior analyst atAlpari Research & Analysis
Thisarticlewas originally posted on FX Empire
• USDMXN ready to take profits, EURJPY to go lower and USDCAD to break from the sideways trend
• Technical Update For EUR/USD, GBP/USD, USD/JPY & AUD/USD: 17.10.2017
• E-mini Dow Jones Industrial Average (YM) Futures Analysis – Trend Up, But Needs to Hold 22898 to Sustain Rally
• Bitcoin Trades near All-Time Highs, the Ethereum Hard Fork, and the Slow March to $6,000
• USD/CAD Daily Fundamental Forecast – October 17, 2017
• E-mini S&P 500 Index (ES) Futures Technical Analysis – Becomes Vulnerable to Downside Under 2549.00
[Social Media Buzz]
#Bitcoin : Baja !! 18/10/2017 04:00:05 COMPRAMOS a COP 14.823.288,90 y VENDEMOS en COP 18.568.119,78 #BitcoinColombiapic.twitter.com/kAdpjnIkHv || LIVE: Profit = $3.24 (0.41 %). BUY B0.15 @ $5,268.40 (#Bitfinex). SELL @ $5,350.00 (#TheRock) #bitcoin #btc - http://www.projectcoin.org || 10/19 07:00現在
#Bitcoin : 619,100円↓
#NEM #XEM : 24.48円↓
#Monacoin : 319円↓
#Ethereum : 34,995円↑
#Zaif : 0.5216円↓ || LIVE: Profit = $781.23 (0.42 %). BUY B34.60 @ $5,396.10 (#Bitfinex). SELL @ $5,420.00 (#Kra...
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5708.52, 6011.45, 6031.60, 6008.42, 5930.32, 5526.64, 5750.80, 5904.83, 5780.90, 5753.09
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Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 6880.32, 7117.21, 7429.72, 7550.90, 7569.94, 7679.87, 7795.60, 7807.06, 8801.04, 8658.55, 8864.77, 8988.60, 8897.47, 8912.65, 9003.07, 9268.76, 9951.52, 9842.67, 9593.90, 8756.43, 8601.80, 8804.48, 9269.99, 9733.72, 9328.20, 9377.01, 9670.74, 9726.58, 9729.04, 9522.98, 9081.76, 9182.58, 9209.29, 8790.37, 8906.93, 8835.05, 9181.02, 9525.75, 9439.12, 9700.41, 9461.06, 10167.27, 9529.80, 9656.72, 9800.64, 9665.53, 9653.68, 9758.85, 9771.49, 9795.70, 9870.09, 9321.78, 9480.84, 9475.28, 9386.79, 9450.70, 9538.02, 9480.25, 9411.84, 9288.02, 9332.34, 9303.63, 9648.72, 9629.66, 9313.61, 9264.81, 9162.92, 9045.39, 9143.58, 9190.85, 9137.99, 9228.33, 9123.41, 9087.30, 9132.49, 9073.94, 9375.47, 9252.28, 9428.33, 9277.97, 9278.81, 9240.35, 9276.50, 9243.61, 9243.21, 9192.84, 9132.23, 9151.39, 9159.04, 9185.82.
|
[Bitcoin Technical Analysis for 2020-07-19]
Volume: 12939002784, RSI (14-day): 47.09, 50-day EMA: 9212.88, 200-day EMA: 8691.77
[Wider Market Context]
None available.
[Recent News (last 7 days)]
Social Media Is Democracy’s Faultline: The Breakdown Weekly Recap: From PayPal crypto confirmed to action in central bank digital currencies, these were six themes shaping the week.
Formore episodesand free early access before our regular 3 p.m. Eastern time releases, subscribe withApple Podcasts,Spotify,Pocketcasts,Google Podcasts,Castbox,Stitcher,RadioPublica,iHeartRadioorRSS.
This episode is sponsored byBitstampandCrypto.com.
Related:Bitcoin News Roundup for July 20, 2020
On this edition of the Weekly Recap, NLW explores:
• No-volatility bitcoin and DeFi’s big quarter
• An uptick in central bank currency action
• PayPal crypto confirmation
• A China-U.S. rhetoric flare up
• Social media as democracy’s fault line
• In Fed World, is the narrative trade the only trade?
Monday |The Real Story Behind Tesla’s Crazy Rally
Tuesday |Why Are Execs of Bankrupt Companies Being Rewarded With Millions?
Wednesday |A Primer on the US and China’s ‘New Cold War’
Related:Are Stablecoins Eurodollars 2.0? Long Reads Sunday
Thursday |No, the Twitter Hack Wasn’t About Bitcoin
Friday |What If the Too-Strong Dollar Is a Solved Problem? Feat. Jon Turek
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• Social Media Is Democracy’s Faultline: The Breakdown Weekly Recap
• Social Media Is Democracy’s Faultline: The Breakdown Weekly Recap || Social Media Is Democracys Faultline: The Breakdown Weekly Recap: From PayPal crypto confirmed to action in central bank digital currencies, these were six themes shaping the week. For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe with Apple Podcasts , Spotify , Pocketcasts , Google Podcasts , Castbox , Stitcher , RadioPublica , iHeartRadio or RSS . This episode is sponsored by Bitstamp and Crypto.com . Related: Bitcoin News Roundup for July 20, 2020 On this edition of the Weekly Recap, NLW explores: No-volatility bitcoin and DeFis big quarter An uptick in central bank currency action PayPal crypto confirmation A China-U.S. rhetoric flare up Social media as democracys fault line In Fed World, is the narrative trade the only trade? This week on The Breakdown: Monday | The Real Story Behind Teslas Crazy Rally Tuesday | Why Are Execs of Bankrupt Companies Being Rewarded With Millions? Wednesday | A Primer on the US and Chinas New Cold War Related: Are Stablecoins Eurodollars 2.0? Long Reads Sunday Thursday | No, the Twitter Hack Wasnt About Bitcoin Friday | What If the Too-Strong Dollar Is a Solved Problem? Feat. Jon Turek For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe with Apple Podcasts , Spotify , Pocketcasts , Google Podcasts , Castbox , Stitcher , RadioPublica , iHeartRadio or RSS . Related Stories Social Media Is Democracys Faultline: The Breakdown Weekly Recap Social Media Is Democracys Faultline: The Breakdown Weekly Recap || Novel Charts Dark Side of ICO Mania: The initial coin offering boom of 2017 and 2018 was the closest crypto came to mass adoption.
It was a period of market and media exuberance. The Gray Lady, aka the New York Times, perhaps looking to court the new taste-makers and thehilariously wealthy, published think pieces about thecrypto revolutionand theleaders behind it.
About 1,000 different token projects raisedover $22 billionover two years, according to CoinDesk Research. To put it in perspective, that’s approximately half the gross domestic product ofTuvalu, the country with the smallest GDP at that time. Unlike the natural resources anddomain namesthis tiny Pacific island nation cashes in on, the majority of token projects turned out to be vaporware.
Related:The Novel Legal Strategy Bringing This ICO-Backed ‘Micro-Mobility’ Startup to Court
Many petered outunremembered. Some werestraight-upscams. A few becamehousehold names, (for the wrong reasons).
Haydn Wilks, a Welsh author, has memorialized the era in his second novel, “$hitcoin,” published this month by Dead Bird Press. It’s a story of grift and determination, about the revolutionary potentials of distributed technology and how fortunes were made and lost in an instant.
We caught up with the32-year-old Wilksto discuss his work, his experiences during the ICO boom and the latest in crypto.
In the novel, you walk the line between celebrating the potential technological benefits of crypto and also showing how some ICOs were get-rich schemes. Where do you find your own thoughts on the matter: Is crypto revolutionary, or is it a story people are trying to sell?
Related:To His Own Surprise, Crypto Volume Pumper's Business Is Still Thriving
I think that there are elements of both sides that are true. A lot of the tech was and is truly ground-breaking, cutting-edge stuff. But there were also a lot of ICOs launched purely with the intention of making as much [money] as possible as quickly as possible. And it was often very hard to distinguish between them.
OysterPearl is one project that’s mentioned briefly in the novel – that was based on a unique idea that many saw real potential in, using visitors to a website’s computing power for storage as an alternative to serving advertising to generate money for the website. But the founder of Oyster Pearl was completely anonymous and even those working for the project didn’t know his real identity. The guy behind it built a vulnerability into theOyster Pearl smart contractthat allowed him to produce a load of new coins, sell them and disappear into anonymity while the project collapsed.
When did you come into crypto or become aware of it? If you’re still following the developments, does anything strike you for its artistic potential?
I was aware of Bitcoin for years before I really got into it. I’m not sure of the exact date, but maybe in 2012 or 2013 I tried to get into it, but it was a lot more difficult to get started in those days. I remember trying to download a copy of the blockchain to my PC, thinking that was the only way to set up a Bitcoin wallet! By 2017, you had much more user-friendly ways of buying cryptocurrency with fiat currency.
Freelance writing work around the crypto space became more difficult to find as the 2017 hype died away. By 2019, most of the sites I’d worked for had become unprofitable and were no longer commissioning new articles, so I’ve not been keeping up with new developments in the space as closely as I was in the past. But I think the big projects like Ethereum have continued becoming more and more integrated into the tech andfinance mainstreamso I’m sure that there are a lot of interesting new stories to be told.
See also:As Museums Go Dark, Crypto Art Finds Its Frame
Who do you think are the most interesting real-life characters in crypto today?
The crypto scene is full of larger-than-life characters! Some of the most interesting for a variety of different reasons would be Vitalik Buterin, Justin Sun, Craig S. Wright, C.Z. from Binance – the list goes on and on. The stories I found the most interesting were the ones with a lot of human drama to them. The split between Bitcoin Cash and Bitcoin Cash Satoshi’s Vision would make a great movie. Another story I found really fascinating was the rise of Binance and how they had to move around different countries, growing exponentially the whole time, until they could find apermanent base.
There’s a huge amount of real-life drama to draw on in this world and I definitely think this won’t be the last work of fiction on the topic.
Do you think the cultural experience of the ICO days was different in Europe and the U.S.? Was it a global experience?
I mainly saw it from an Asian perspective as I was living in [South] Korea at the time. When I returned to the U.K. during 2017, it seemed like most people were aware of cryptocurrency, but there wasn’t the same appetite to invest in it that I saw in Korea. I was teaching at a university in Korea and students would talk about cryptocurrency in class quite regularly. You would also hear people talking about it everywhere you went, like bars, restaurants and cafes. I think something like50% of Korean twentysomethingswere investing in cryptocurrency, which must have been a much higher percentage than in Europe and the United States.
Having said that, some of the most interesting stories came from Europe and the United States. RaiBlocks (laterrebranded as Nano) was the coin I had most success with during the 2017 bull run – I bought it when it was only available on Mercatox and BitGrail and it was just 65 cents a coin. Within about a month, it was at over $30. And then it emerged that BitGrail had lost a huge amount of users tokens – hundreds of millions of dollars worth, depending on when you calculate the loss. And BitGrail was handling all this money while being run by one inexperienced programmer in Italy who hadn’t even registered the exchange as a limited company, leaving him personally liable for all its losses.
See also:Discovery Science to Premier Crypto-Funded TV Series About… Dragonchain?
Another project that fascinated me wasElixir– they generated quite a lot of hype at a time when almost every coin had big supporters saying what a great investment a project was on sites like Bitcoin Talk and Reddit. But if you visited their website, they hadn’t produced a full-length white paper. All they had was a two-page pamphlet. And the only credentials its founders seemed to have was a degree from the University of Iowa. Future Synergy Coin’s creators in the novel are in no way based on the team behind Elixir, but the fact that two students could create something with that much impact was definitely a big early inspiration for basing the novel on a group of frat bros launching their own ICO.
You are one of the first to write a crypto novel. How do you think the crypto phenomenon will fit in with the larger literary or cultural scenes?
It took me a long time to write this novel. I was quite frustrated with myself for how long it was taking, as I thought someone would surely beat me to it and get a movie or book on this phenomenon out before I did. I’m kind of pleasantly surprised that this is the first novel to really capture the ICO phenomenon. There’s a huge amount of real-life drama to draw on in this world and I definitely think this won’t be the last work of fiction on the topic. Just as I was getting ready to launch the book, news broke that a movie is being produced based on “Bitcoin Billionaires,” a book about the Winklevoss twins’ involvement in Bitcoin. So I think that we are just starting to scratch the surface when it comes to this topic and there will be a lot more to come.
• Novel Charts Dark Side of ICO Mania
• Novel Charts Dark Side of ICO Mania || Novel Charts Dark Side of ICO Mania: The initial coin offering boom of 2017 and 2018 was the closest crypto came to mass adoption. It was a period of market and media exuberance. The Gray Lady, aka the New York Times, perhaps looking to court the new taste-makers and the hilariously wealthy , published think pieces about the crypto revolution and the leaders behind it . About 1,000 different token projects raised over $22 billion over two years, according to CoinDesk Research. To put it in perspective, thats approximately half the gross domestic product of Tuvalu , the country with the smallest GDP at that time. Unlike the natural resources and domain names this tiny Pacific island nation cashes in on, the majority of token projects turned out to be vaporware. Related: The Novel Legal Strategy Bringing This ICO-Backed Micro-Mobility Startup to Court Many petered out unremembered . Some were straight-up scams . A few became household names , (for the wrong reasons). Haydn Wilks, a Welsh author, has memorialized the era in his second novel, $hitcoin , published this month by Dead Bird Press. Its a story of grift and determination, about the revolutionary potentials of distributed technology and how fortunes were made and lost in an instant. We caught up with the 32-year-old Wilks to discuss his work, his experiences during the ICO boom and the latest in crypto. In the novel, you walk the line between celebrating the potential technological benefits of crypto and also showing how some ICOs were get-rich schemes. Where do you find your own thoughts on the matter: Is crypto revolutionary, or is it a story people are trying to sell? Related: To His Own Surprise, Crypto Volume Pumper's Business Is Still Thriving I think that there are elements of both sides that are true. A lot of the tech was and is truly ground-breaking, cutting-edge stuff. But there were also a lot of ICOs launched purely with the intention of making as much [money] as possible as quickly as possible. And it was often very hard to distinguish between them. Story continues OysterPearl is one project thats mentioned briefly in the novel that was based on a unique idea that many saw real potential in, using visitors to a websites computing power for storage as an alternative to serving advertising to generate money for the website. But the founder of Oyster Pearl was completely anonymous and even those working for the project didnt know his real identity. The guy behind it built a vulnerability into the Oyster Pearl smart contract that allowed him to produce a load of new coins, sell them and disappear into anonymity while the project collapsed. When did you come into crypto or become aware of it? If youre still following the developments, does anything strike you for its artistic potential? I was aware of Bitcoin for years before I really got into it. Im not sure of the exact date, but maybe in 2012 or 2013 I tried to get into it, but it was a lot more difficult to get started in those days. I remember trying to download a copy of the blockchain to my PC, thinking that was the only way to set up a Bitcoin wallet! By 2017, you had much more user-friendly ways of buying cryptocurrency with fiat currency. Freelance writing work around the crypto space became more difficult to find as the 2017 hype died away. By 2019, most of the sites Id worked for had become unprofitable and were no longer commissioning new articles, so Ive not been keeping up with new developments in the space as closely as I was in the past. But I think the big projects like Ethereum have continued becoming more and more integrated into the tech and finance mainstream so Im sure that there are a lot of interesting new stories to be told. See also: As Museums Go Dark, Crypto Art Finds Its Frame Who do you think are the most interesting real-life characters in crypto today? The crypto scene is full of larger-than-life characters! Some of the most interesting for a variety of different reasons would be Vitalik Buterin, Justin Sun, Craig S. Wright, C.Z. from Binance the list goes on and on. The stories I found the most interesting were the ones with a lot of human drama to them. The split between Bitcoin Cash and Bitcoin Cash Satoshis Vision would make a great movie. Another story I found really fascinating was the rise of Binance and how they had to move around different countries, growing exponentially the whole time, until they could find a permanent base . Theres a huge amount of real-life drama to draw on in this world and I definitely think this wont be the last work of fiction on the topic. Do you think the cultural experience of the ICO days was different in Europe and the U.S.? Was it a global experience? I mainly saw it from an Asian perspective as I was living in [South] Korea at the time. When I returned to the U.K. during 2017, it seemed like most people were aware of cryptocurrency, but there wasnt the same appetite to invest in it that I saw in Korea. I was teaching at a university in Korea and students would talk about cryptocurrency in class quite regularly. You would also hear people talking about it everywhere you went, like bars, restaurants and cafes. I think something like 50% of Korean twentysomethings were investing in cryptocurrency, which must have been a much higher percentage than in Europe and the United States. Having said that, some of the most interesting stories came from Europe and the United States. RaiBlocks (later rebranded as Nano ) was the coin I had most success with during the 2017 bull run I bought it when it was only available on Mercatox and BitGrail and it was just 65 cents a coin. Within about a month, it was at over $30. And then it emerged that BitGrail had lost a huge amount of users tokens hundreds of millions of dollars worth, depending on when you calculate the loss. And BitGrail was handling all this money while being run by one inexperienced programmer in Italy who hadnt even registered the exchange as a limited company, leaving him personally liable for all its losses. See also: Discovery Science to Premier Crypto-Funded TV Series About
Dragonchain? Another project that fascinated me was Elixir they generated quite a lot of hype at a time when almost every coin had big supporters saying what a great investment a project was on sites like Bitcoin Talk and Reddit. But if you visited their website, they hadnt produced a full-length white paper. All they had was a two-page pamphlet. And the only credentials its founders seemed to have was a degree from the University of Iowa. Future Synergy Coins creators in the novel are in no way based on the team behind Elixir, but the fact that two students could create something with that much impact was definitely a big early inspiration for basing the novel on a group of frat bros launching their own ICO. You are one of the first to write a crypto novel. How do you think the crypto phenomenon will fit in with the larger literary or cultural scenes? It took me a long time to write this novel. I was quite frustrated with myself for how long it was taking, as I thought someone would surely beat me to it and get a movie or book on this phenomenon out before I did. Im kind of pleasantly surprised that this is the first novel to really capture the ICO phenomenon. Theres a huge amount of real-life drama to draw on in this world and I definitely think this wont be the last work of fiction on the topic. Just as I was getting ready to launch the book, news broke that a movie is being produced based on Bitcoin Billionaires , a book about the Winklevoss twins involvement in Bitcoin. So I think that we are just starting to scratch the surface when it comes to this topic and there will be a lot more to come. Related Stories Novel Charts Dark Side of ICO Mania Novel Charts Dark Side of ICO Mania || High-profile politicians and celebrities targeted in the cyber attack: Photo: Omar Marques/SOPA Images/LightRocket via Getty Images Twitter ( TWTR ) says that 130 accounts were targeted in the cyber attack that took place on Wednesday. Of these, 45 were successfully hacked, while eight unverified users’ information was accessed and downloaded. “In cases where an account was taken over by the attacker, they may have been able to view additional information. Our forensic investigation of these activities is still ongoing,” the company said. It did not give additional details about what that information might be. The hack affected US presidential candidate Joe Biden, reality TV star Kim Kardashian, former US President Barack Obama and Tesla ( TSLA ) tycoon Elon Musk. It used their accounts to solicit digital currency. Others targeted include rapper Kanye West, Amazon’s ( AMZN ) Jeff Bezos, investor Warren Buffett and Microsoft ( MSFT ) founder Bill Gates. Corporate accounts for Uber ( UBER ) and Apple ( AAPL ) were also on that list. Donald Trump was one of the prominent Twitter uses unaffected by this. Public records show the scam earned the fraudsters more than $100,000 (£79,570) in cryptocurrencies such as Bitcoin. Bitcoin is notoriously difficult to trace, and the “wallets” the currency was put into have already been emptied. This money is likely to have been split into smaller amounts through a “mixer” or “tumbler” to make it even harder to trace back to the attackers. Twitter also said the scammers may have tried to sell account names and handles. READ MORE: Why we need to stop food shaming at work The company set out a four-point plan of next-steps following the incident. This included an employee training scheme. The FBI is now investigating, according to reports. We are aware of a security incident impacting accounts on Twitter. We are investigating and taking steps to fix it. We will update everyone shortly. — Twitter Support (@TwitterSupport) July 15, 2020 View comments || High-profile politicians and celebrities targeted in the cyber attack: Photo: Omar Marques/SOPA Images/LightRocket via Getty Images Twitter ( TWTR ) says that 130 accounts were targeted in the cyber attack that took place on Wednesday. Of these, 45 were successfully hacked, while eight unverified users’ information was accessed and downloaded. “In cases where an account was taken over by the attacker, they may have been able to view additional information. Our forensic investigation of these activities is still ongoing,” the company said. It did not give additional details about what that information might be. The hack affected US presidential candidate Joe Biden, reality TV star Kim Kardashian, former US President Barack Obama and Tesla ( TSLA ) tycoon Elon Musk. It used their accounts to solicit digital currency. Others targeted include rapper Kanye West, Amazon’s ( AMZN ) Jeff Bezos, investor Warren Buffett and Microsoft ( MSFT ) founder Bill Gates. Corporate accounts for Uber ( UBER ) and Apple ( AAPL ) were also on that list. Donald Trump was one of the prominent Twitter uses unaffected by this. Public records show the scam earned the fraudsters more than $100,000 (£79,570) in cryptocurrencies such as Bitcoin. Bitcoin is notoriously difficult to trace, and the “wallets” the currency was put into have already been emptied. This money is likely to have been split into smaller amounts through a “mixer” or “tumbler” to make it even harder to trace back to the attackers. Twitter also said the scammers may have tried to sell account names and handles. READ MORE: Why we need to stop food shaming at work The company set out a four-point plan of next-steps following the incident. This included an employee training scheme. The FBI is now investigating, according to reports. We are aware of a security incident impacting accounts on Twitter. We are investigating and taking steps to fix it. We will update everyone shortly. — Twitter Support (@TwitterSupport) July 15, 2020 View comments || Twitter Says Several Employees Were Manipulated By Hackers: (Bloomberg) -- Twitter Inc. said several of its employees were manipulated by hackers into providing credentials for internal systems, and 130 Twitter accounts were targeted including those of Joe Biden, Elon Musk and Jeff Bezos.
The hackers were able to reset passwords for 45 users, while eight had their data, including private messages, downloaded entirely, Twitter said in a blog post late Friday. While the hack targeted high-profile users such as Barack Obama and Warren Buffett, Twitter later clarified that data wasn’t downloaded from any verified accounts, without providing identities.
The hackers may have also tried to sell the user names of some of the accounts, it said.
“There are some details — particularly around remediation — that we are not providing right now to protect the security of the effort,” the company said. “We are continuing our forensic review of all of the accounts to confirm all actions that may have been taken.”
Twitter did not say, for instance, whether the hackers read any of the private messages of world leaders while logged into their accounts.
The attack on Wednesday involved a widespread scam, using the accounts of cryptocurrency companies, corporate leaders and celebrities to solicit Bitcoin transfers, in exchange for a promise of doubling the money. Twitter is working with authorities including the Federal Bureau of Investigation to identify the hackers and figure out the extent to which users’ data was compromised.
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©2020 Bloomberg L.P. || Twitter Says Several Employees Were Manipulated By Hackers: (Bloomberg) -- Twitter Inc. said several of its employees were manipulated by hackers into providing credentials for internal systems, and 130 Twitter accounts were targeted including those of Joe Biden, Elon Musk and Jeff Bezos. The hackers were able to reset passwords for 45 users, while eight had their data, including private messages, downloaded entirely, Twitter said in a blog post late Friday. While the hack targeted high-profile users such as Barack Obama and Warren Buffett, Twitter later clarified that data wasn’t downloaded from any verified accounts, without providing identities. The hackers may have also tried to sell the user names of some of the accounts, it said. “There are some details — particularly around remediation — that we are not providing right now to protect the security of the effort,” the company said. “We are continuing our forensic review of all of the accounts to confirm all actions that may have been taken.” Twitter did not say, for instance, whether the hackers read any of the private messages of world leaders while logged into their accounts. The attack on Wednesday involved a widespread scam, using the accounts of cryptocurrency companies, corporate leaders and celebrities to solicit Bitcoin transfers, in exchange for a promise of doubling the money. Twitter is working with authorities including the Federal Bureau of Investigation to identify the hackers and figure out the extent to which users’ data was compromised. For more articles like this, please visit us at bloomberg.com Subscribe now to stay ahead with the most trusted business news source. ©2020 Bloomberg L.P. || Twitter confirms 'Bitcoin' hackers copied the data of several accounts: Ever sinceWednesday’s “bitcoin scam” hackwhere attackers used Twitter’s internal tools to take over a number of high profile accounts, there’s been speculation about what they were truly after.
While tweets from hijacked accounts claimed to seek Bitcoin, the accounts accessed — and any others potentially accessed —could be far more valuable for the non-public information they contain, like linked address books and direct messages. As far as we know, that includes information for people like Joe Biden, Barack Obama, Elon Musk, Bill Gates and Warren Buffett, but those are only the ones we know about.
Late Friday night,Twitter confirmedthat its investigation shows attackers exported the data on “up to eight of the accounts involved,” without specifying which ones (in alater tweet, the company indicated that none of the eight were Verified accounts). Of the 130 that it had previously said were targeted, Twitter now says the attackers performed a password reset and were able to access 45 of them, but did not specify why they may not have done so on the the others.
Multiple reports, including one on Friday afternoon from theNew York Times, have featured accounts from posters on the “OGUsers” gray market forum where high-profile accounts are sometimes traded. By the accounts of their sources, an unknown person going by the name of “Kirk” claimed to be a Twitter employee and offered takeovers on any account, working at times via middle men, and collecting money via the same address advertised in the tweets. According to some of the customers and middlemen from the incident, they apparently believe Kirk accessed Twitter’s internal Slack channels, and found credentials for its internal admin tools there.
Twitter’s own accounting of the incident isn’t any clearer, simply stating “The attackers successfully manipulated a small number of employees and used their credentials to access Twitter’s internal systems, including getting through our two-factor protections.” || Twitter confirms 'Bitcoin' hackers copied the data of several accounts: Ever since Wednesday’s “bitcoin scam” hack where attackers used Twitter’s internal tools to take over a number of high profile accounts, there’s been speculation about what they were truly after. While tweets from hijacked accounts claimed to seek Bitcoin, the accounts accessed — and any others potentially accessed — could be far more valuable for the non-public information they contain , like linked address books and direct messages. As far as we know, that includes information for people like Joe Biden, Barack Obama, Elon Musk, Bill Gates and Warren Buffett, but those are only the ones we know about. Our investigation and cooperation with law enforcement continues, and we remain committed to sharing any updates here. More to come via @TwitterSupport as our investigation continues. — Twitter Support (@TwitterSupport) July 18, 2020 Late Friday night, Twitter confirmed that its investigation shows attackers exported the data on “up to eight of the accounts involved,” without specifying which ones (in a later tweet , the company indicated that none of the eight were Verified accounts). Of the 130 that it had previously said were targeted, Twitter now says the attackers performed a password reset and were able to access 45 of them, but did not specify why they may not have done so on the the others. There is a lot speculation about the identity of these 8 accounts. We will only disclose this to the impacted accounts, however to address some of the speculation: none of the eight were Verified accounts. — Twitter Support (@TwitterSupport) July 18, 2020 Multiple reports, including one on Friday afternoon from the New York Times , have featured accounts from posters on the “OGUsers” gray market forum where high-profile accounts are sometimes traded. By the accounts of their sources, an unknown person going by the name of “Kirk” claimed to be a Twitter employee and offered takeovers on any account, working at times via middle men, and collecting money via the same address advertised in the tweets. According to some of the customers and middlemen from the incident, they apparently believe Kirk accessed Twitter’s internal Slack channels, and found credentials for its internal admin tools there. Twitter’s own accounting of the incident isn’t any clearer, simply stating “The attackers successfully manipulated a small number of employees and used their credentials to access Twitter’s internal systems, including getting through our two-factor protections.” || Twitter confirms 'Bitcoin' hackers copied the data of several accounts: Ever sinceWednesday’s “bitcoin scam” hackwhere attackers used Twitter’s internal tools to take over a number of high profile accounts, there’s been speculation about what they were truly after.
While tweets from hijacked accounts claimed to seek Bitcoin, the accounts accessed — and any others potentially accessed —could be far more valuable for the non-public information they contain, like linked address books and direct messages. As far as we know, that includes information for people like Joe Biden, Barack Obama, Elon Musk, Bill Gates and Warren Buffett, but those are only the ones we know about.
Late Friday night,Twitter confirmedthat its investigation shows attackers exported the data on “up to eight of the accounts involved,” without specifying which ones (in alater tweet, the company indicated that none of the eight were Verified accounts). Of the 130 that it had previously said were targeted, Twitter now says the attackers performed a password reset and were able to access 45 of them, but did not specify why they may not have done so on the the others.
Multiple reports, including one on Friday afternoon from theNew York Times, have featured accounts from posters on the “OGUsers” gray market forum where high-profile accounts are sometimes traded. By the accounts of their sources, an unknown person going by the name of “Kirk” claimed to be a Twitter employee and offered takeovers on any account, working at times via middle men, and collecting money via the same address advertised in the tweets. According to some of the customers and middlemen from the incident, they apparently believe Kirk accessed Twitter’s internal Slack channels, and found credentials for its internal admin tools there.
Twitter’s own accounting of the incident isn’t any clearer, simply stating “The attackers successfully manipulated a small number of employees and used their credentials to access Twitter’s internal systems, including getting through our two-factor protections.” || The Crypto Daily – Movers and Shakers – July 18th, 2020: Bitcoin, BTC to USD, rose by 0.19% on Friday. Partially reversing a 0.66% fall from Thursday, Bitcoin ended the day at $9,167.3. It was a bearish start to the day. Bitcoin fell to a mid-morning intraday low $9,102.1 before making a move. Steering clear of the first major support level at $9,041.73, Bitcoin rose to a mid-day intraday high $9,194.0. Falling short of the first major resistance level at $9,242.33, Bitcoin fell back to $9,141 levels before finding support. Bitcoin briefly revisited $9,190 levels before easing back. The near-term bullish trend remained intact in spite of the early July pullback to sub-$9,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend. The Rest of the Pack Across the rest of the majors, it was yet another mixed day on Friday. Stellar’s Lumen and Tezos rose by 2.22% and by 2.34% to lead the way. Tron’s TRX (+0.19%) also joined Bitcoin in the green. It was a bearish day for the rest of the majors. Cardano’s ADA led the way down, falling by 2.95%. Binance Coin (-0.58%), Bitcoin Cash ABC (-0.24%), Bitcoin Cash SV (-0.43%), EOS (-0.19%), Ethereum (-0.33%), Litecoin (-0.45%), Monero’s XMR (-0.13%), and Ripple’s XRP (-0.03%) also saw red. In the current week, the crypto total market cap rose to a Monday high $273.18bn before falling to a Thursday low $258.89bn. At the time of writing, the total market cap stood at $264.46bn. Bitcoin’s dominance fell to a Monday low 63.09% before rising to a Thursday high 64.28%. At the time of writing, Bitcoin’s dominance stood at 63.80%. This Morning At the time of writing, Bitcoin was flat at $9,167.5. A mixed start to the day saw Bitcoin rise to an early morning high $9,175.0 before falling to a low $9,163.3. Bitcoin left the major support and resistance levels untested early on. Elsewhere, it was another mixed start to the day. Bitcoin Cash SV (-0.67%), Cardano’s ADA (-1.06%), Monero’s XMR (-0.50%), Stellar’s Lumen (-3.46%), Tezos (-1.72%), and Tron’s TRX (-0.15%) saw red early on. Story continues Binance Coin (+0.26%), EOS (+0.08%), Ethereum (+0.11%), Litecoin (+0.10%), and Ripple’s XRP (+0.33%) found early support. For the Bitcoin Day Ahead Bitcoin would need to avoid a fall through the $9,155 pivot to support a run at the first major resistance level at $9,206.83. Support from the broader market would be needed, however, for Bitcoin to break out from Friday’s high $9,194.0. Barring an extended crypto rally, the first major resistance level and Friday’s high would likely cap any upside. In the event of a crypto breakout, Bitcoin should break through the second major resistance level at $9,246.37. Resistance at $9,300 would likely cap any upside. Failure to avoid a fall through the $9,155 pivot level would bring the first major support level at $9,114.93 into play. Barring an extended crypto sell-off, however, Bitcoin should avoid sub-$9,000 levels. The second major support level at $9,062.57 should limit any downside. This article was originally posted on FX Empire More From FXEMPIRE: The Weekly Wrap – Economic Data and COVID-19 News Drives the Markets US Stock Market Overview – Stocks Close Mixed for the Day and the Week Crude Oil Weekly Price Forecast – Crude Oil Markets Continue to Squeeze Higher Gold Price Prediction – Prices Rise and Finish the Week up 0.66% S&P 500 Price Forecast – Stock Markets Continue to See Bullish Pressure Natural Gas Price Prediction – Prices Fall 5% for the Week Despite lower Rig Count || The Crypto Daily – Movers and Shakers – July 18th, 2020: Bitcoin, BTC to USD, rose by 0.19% on Friday. Partially reversing a 0.66% fall from Thursday, Bitcoin ended the day at $9,167.3. It was a bearish start to the day. Bitcoin fell to a mid-morning intraday low $9,102.1 before making a move. Steering clear of the first major support level at $9,041.73, Bitcoin rose to a mid-day intraday high $9,194.0. Falling short of the first major resistance level at $9,242.33, Bitcoin fell back to $9,141 levels before finding support. Bitcoin briefly revisited $9,190 levels before easing back. The near-term bullish trend remained intact in spite of the early July pullback to sub-$9,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend. The Rest of the Pack Across the rest of the majors, it was yet another mixed day on Friday. Stellar’s Lumen and Tezos rose by 2.22% and by 2.34% to lead the way. Tron’s TRX (+0.19%) also joined Bitcoin in the green. It was a bearish day for the rest of the majors. Cardano’s ADA led the way down, falling by 2.95%. Binance Coin (-0.58%), Bitcoin Cash ABC (-0.24%), Bitcoin Cash SV (-0.43%), EOS (-0.19%), Ethereum (-0.33%), Litecoin (-0.45%), Monero’s XMR (-0.13%), and Ripple’s XRP (-0.03%) also saw red. In the current week, the crypto total market cap rose to a Monday high $273.18bn before falling to a Thursday low $258.89bn. At the time of writing, the total market cap stood at $264.46bn. Bitcoin’s dominance fell to a Monday low 63.09% before rising to a Thursday high 64.28%. At the time of writing, Bitcoin’s dominance stood at 63.80%. This Morning At the time of writing, Bitcoin was flat at $9,167.5. A mixed start to the day saw Bitcoin rise to an early morning high $9,175.0 before falling to a low $9,163.3. Bitcoin left the major support and resistance levels untested early on. Elsewhere, it was another mixed start to the day. Bitcoin Cash SV (-0.67%), Cardano’s ADA (-1.06%), Monero’s XMR (-0.50%), Stellar’s Lumen (-3.46%), Tezos (-1.72%), and Tron’s TRX (-0.15%) saw red early on. Story continues Binance Coin (+0.26%), EOS (+0.08%), Ethereum (+0.11%), Litecoin (+0.10%), and Ripple’s XRP (+0.33%) found early support. For the Bitcoin Day Ahead Bitcoin would need to avoid a fall through the $9,155 pivot to support a run at the first major resistance level at $9,206.83. Support from the broader market would be needed, however, for Bitcoin to break out from Friday’s high $9,194.0. Barring an extended crypto rally, the first major resistance level and Friday’s high would likely cap any upside. In the event of a crypto breakout, Bitcoin should break through the second major resistance level at $9,246.37. Resistance at $9,300 would likely cap any upside. Failure to avoid a fall through the $9,155 pivot level would bring the first major support level at $9,114.93 into play. Barring an extended crypto sell-off, however, Bitcoin should avoid sub-$9,000 levels. The second major support level at $9,062.57 should limit any downside. This article was originally posted on FX Empire More From FXEMPIRE: The Weekly Wrap – Economic Data and COVID-19 News Drives the Markets US Stock Market Overview – Stocks Close Mixed for the Day and the Week Crude Oil Weekly Price Forecast – Crude Oil Markets Continue to Squeeze Higher Gold Price Prediction – Prices Rise and Finish the Week up 0.66% S&P 500 Price Forecast – Stock Markets Continue to See Bullish Pressure Natural Gas Price Prediction – Prices Fall 5% for the Week Despite lower Rig Count || WEI Art Collections Unveils New Multi-Million Dollar Contemporary Art Collection Commemorating Bitcoin and Ethereum: DUBAI, UAE / ACCESSWIRE / July 17, 2020 / WEI Art Collections has stayed true to the meaning of their name with a new art collection. WEI means extraordinary and WEI Art Collections is again set to excite the creative industry with their latest multi-million-dollar contemporary private art collection to celebrate blockchain technology. The new series is an unprecedented fusion of crypto-currency and art. WEI Art Collections has carved a niche for creating the finest, most extraordinary abstract, contemporary, and crypto art. With a team of talented and well-respected artists from different parts of the world, representing numerous cultural, ethnic, and racially diverse creative talent, the platform has provided art collectors as well as corporate and technology leaders with an opportunity to acquire exclusive works of art from the WEI Art Collections series. The WEI Art Collections Innovation Series is specifically put together for crypto-currency whales, art buyers, and advocates of the blockchain technology. The series also has its obvious appeal to professionals in the financial sector. The latest collection is coming at the most ideal time, with the world rapidly embracing the features and benefits of crypto-currency and blockchain technology. In the fall of 2018, billionaire and abstract contemporary art collector Adam Lindemann, amongst the world's leading art collectors, stated in an article in Bloomberg news by Katya Kazakina on November 29 as follows: "Everyone is talking about blockchain, but no one really understands it," said Lindemann, 57, referring to the technology that supports Bitcoin and other cryptocurrencies. "This is the right time to think about art and tech." As the mp3 file undeniably influenced and redefined how the world listens to music, blockchain technology is destined to be applied in numerous industries. The use of crypto-currency has become increasingly popular in recent times, with experts predicting growth to the tune of tens of trillions of dollars in the near future. The International Monetary Fund has also substantiated the claim, commenting on the advantages and stability crypto-currency values will enjoy as world economies and fiat currencies continue to falter. However, the creative industry has been seemingly silent on the subject of crypto-currency and this is where WEI Art Collections is looking to change the narrative with the WEI Art Collections Innovation Series. Story continues WEI Art Collections initially features the top three of the most prominent crypto-currencies destined for global dominance in the blockchain, global banking, and financial industries. There is also the Innovation Series 21 featuring 21 unique works, developed exclusively featuring Bitcoin. The series is developed in commemoration of Bitcoins issuance of 21 million coins.WEI Art Collections exemplifies the pinnacle of the crypto-art medium, engaging and employing emerging artists directly. The mission of WEI Art Collections is to be amongst the premier contemporary abstract and cryptography art designers/producers/collectors, featuring works that celebrate the bourgeoning field of Cryptography through the new world technology of blockchain digital assets. Owning an exclusive work from the WEI Art Collections Series will also serve as an investment that will go down in history and appreciate over time. For more information about the WEI Art Collections and how to be a part of this art world innovation please visit https:/weiartcollections.art/ Media contact Company: WEI Art Collections Contact: Jean Marquette E-mail: info@weiartcollections.art Website: https://weiartcollections.art SOURCE: WEI Art Collections View source version on accesswire.com: https://www.accesswire.com/597905/WEI-Art-Collections-Unveils-New-Multi-Million-Dollar-Contemporary-Art-Collection-Commemorating-Bitcoin-and-Ethereum || WEI Art Collections Unveils New Multi-Million Dollar Contemporary Art Collection Commemorating Bitcoin and Ethereum: DUBAI, UAE / ACCESSWIRE / July 17, 2020 /WEI Art Collectionshas stayed true to the meaning of their name with a new art collection. WEI means extraordinary and WEI Art Collections is again set to excite the creative industry with their latest multi-million-dollar contemporary private art collection to celebrate blockchain technology. The new series is an unprecedented fusion of crypto-currency and art.
WEI Art Collectionshas carved a niche for creating the finest, most extraordinary abstract, contemporary, and crypto art. With a team of talented and well-respected artists from different parts of the world, representing numerous cultural, ethnic, and racially diverse creative talent, the platform has provided art collectors as well as corporate and technology leaders with an opportunity to acquire exclusive works of art from the WEI Art Collections series.
The WEI Art Collections Innovation Series is specifically put together for crypto-currency whales, art buyers, and advocates of the blockchain technology. The series also has its obvious appeal to professionals in the financial sector. The latest collection is coming at the most ideal time, with the world rapidly embracing the features and benefits of crypto-currency and blockchain technology.
In the fall of 2018, billionaire and abstract contemporary art collector Adam Lindemann, amongst the world's leading art collectors, stated in an article in Bloomberg news byKatya Kazakinaon November 29 as follows: "Everyone is talking about blockchain, but no one really understands it," said Lindemann, 57, referring to the technology that supports Bitcoin and other cryptocurrencies. "This is the right time to think about art and tech."
As the mp3 file undeniably influenced and redefined how the world listens to music, blockchain technology is destined to be applied in numerous industries. The use of crypto-currency has become increasingly popular in recent times, with experts predicting growth to the tune of tens of trillions of dollars in the near future. The International Monetary Fund has also substantiated the claim, commenting on the advantages and stability crypto-currency values will enjoy as world economies and fiat currencies continue to falter. However, the creative industry has been seemingly silent on the subject of crypto-currency and this is where WEI Art Collections is looking to change the narrative with the WEI Art Collections Innovation Series.
WEI Art Collections initially features the top three of the most prominent crypto-currencies destined for global dominance in the blockchain, global banking, and financial industries. There is also the Innovation Series 21 featuring 21 unique works, developed exclusively featuring Bitcoin. The series is developed in commemoration of Bitcoins issuance of 21 million coins.WEI Art Collections exemplifies the pinnacle of the crypto-art medium, engaging and employing emerging artists directly.
The mission of WEI Art Collections is to be amongst the premier contemporary abstract and cryptography art designers/producers/collectors, featuring works that celebrate the bourgeoning field of Cryptography through the new world technology of blockchain digital assets. Owning an exclusive work from the WEI Art Collections Series will also serve as an investment that will go down in history and appreciate over time. For more information about the WEI Art Collections and how to be a part of this art world innovation please visithttps:/weiartcollections.art/Media contactCompany: WEI Art CollectionsContact: Jean MarquetteE-mail:info@weiartcollections.artWebsite:https://weiartcollections.art
SOURCE:WEI Art Collections
View source version on accesswire.com:https://www.accesswire.com/597905/WEI-Art-Collections-Unveils-New-Multi-Million-Dollar-Contemporary-Art-Collection-Commemorating-Bitcoin-and-Ethereum || WEI Art Collections Unveils New Multi-Million Dollar Contemporary Art Collection Commemorating Bitcoin and Ethereum: DUBAI, UAE / ACCESSWIRE / July 17, 2020 /WEI Art Collectionshas stayed true to the meaning of their name with a new art collection. WEI means extraordinary and WEI Art Collections is again set to excite the creative industry with their latest multi-million-dollar contemporary private art collection to celebrate blockchain technology. The new series is an unprecedented fusion of crypto-currency and art.
WEI Art Collectionshas carved a niche for creating the finest, most extraordinary abstract, contemporary, and crypto art. With a team of talented and well-respected artists from different parts of the world, representing numerous cultural, ethnic, and racially diverse creative talent, the platform has provided art collectors as well as corporate and technology leaders with an opportunity to acquire exclusive works of art from the WEI Art Collections series.
The WEI Art Collections Innovation Series is specifically put together for crypto-currency whales, art buyers, and advocates of the blockchain technology. The series also has its obvious appeal to professionals in the financial sector. The latest collection is coming at the most ideal time, with the world rapidly embracing the features and benefits of crypto-currency and blockchain technology.
In the fall of 2018, billionaire and abstract contemporary art collector Adam Lindemann, amongst the world's leading art collectors, stated in an article in Bloomberg news byKatya Kazakinaon November 29 as follows: "Everyone is talking about blockchain, but no one really understands it," said Lindemann, 57, referring to the technology that supports Bitcoin and other cryptocurrencies. "This is the right time to think about art and tech."
As the mp3 file undeniably influenced and redefined how the world listens to music, blockchain technology is destined to be applied in numerous industries. The use of crypto-currency has become increasingly popular in recent times, with experts predicting growth to the tune of tens of trillions of dollars in the near future. The International Monetary Fund has also substantiated the claim, commenting on the advantages and stability crypto-currency values will enjoy as world economies and fiat currencies continue to falter. However, the creative industry has been seemingly silent on the subject of crypto-currency and this is where WEI Art Collections is looking to change the narrative with the WEI Art Collections Innovation Series.
WEI Art Collections initially features the top three of the most prominent crypto-currencies destined for global dominance in the blockchain, global banking, and financial industries. There is also the Innovation Series 21 featuring 21 unique works, developed exclusively featuring Bitcoin. The series is developed in commemoration of Bitcoins issuance of 21 million coins.WEI Art Collections exemplifies the pinnacle of the crypto-art medium, engaging and employing emerging artists directly.
The mission of WEI Art Collections is to be amongst the premier contemporary abstract and cryptography art designers/producers/collectors, featuring works that celebrate the bourgeoning field of Cryptography through the new world technology of blockchain digital assets. Owning an exclusive work from the WEI Art Collections Series will also serve as an investment that will go down in history and appreciate over time. For more information about the WEI Art Collections and how to be a part of this art world innovation please visithttps:/weiartcollections.art/Media contactCompany: WEI Art CollectionsContact: Jean MarquetteE-mail:info@weiartcollections.artWebsite:https://weiartcollections.art
SOURCE:WEI Art Collections
View source version on accesswire.com:https://www.accesswire.com/597905/WEI-Art-Collections-Unveils-New-Multi-Million-Dollar-Contemporary-Art-Collection-Commemorating-Bitcoin-and-Ethereum || Market Wrap: Derivatives, Altcoins Take Market Spotlight as Bitcoin Dozes at $9,100: Traders want a bitcoin price breakout but they aren’t sure when that will happen.
• Bitcoin(BTC) trading around $9,174 as of 20:00 UTC (4 p.m. ET). Gaining 0.64% over the previous 24 hours.
• Bitcoin’s 24-hour range: $9,054-9,184
• BTC above 10-day and 50-day moving average, a bullish signal for market technicians.
Read More:Exchanges See Drop in Volumes as Bitcoin Volatility Approaches 2020 Low
Traders are optimistic that bitcoin’s weak market, with low volumes and low volatility, can quickly change. Price movement outside of the low $9,000s territory is key, said Rupert Douglas, head of business development and institutional sales at London brokerage Koine. “This tussle between bulls and bears from $9,000 to $9,500 is a slow grind at the moment. A close outside these boundaries will likely see a sharp move either way.”
Related:Bitcoin Futures Trading Volume Slips to 3-Month Low on CME
It will take more exciting news thana Twitter hackattempting to scam social media users out of bitcoin to bring the world’s oldest cryptocurrency out of stagnation, said Jean-Baptiste Pavageau, a partner at Paris-based quantitative trading firm ExoAlpha.
Read More:Why Bitcoin Traders Couldn’t Give a Sat About the Twitter Hack
“The fact that bitcoin didn’t move because of the Twitter scam shows the importance of $9,100-$9,200 range to either consolidate the trend and move higher or invalidate the level and fall toward $8,200,” said Pavageau.
In a sleepy bitcoin sector, several analysts pointed to the crypto derivatives market as a sign the industry is still growing. “In general, the markets have come a long way and I am particularly excited about some of the new derivatives platforms that have emerged.” Mick Sherman, founder of New York-based Trading Firm Altcoin Advisors.
Related:
In particular, CME, Binance and ByBit have seen growth in open interest.
In addition, U.S. dollar-denominated open interest on Seychelles-based derivatives exchange BitMEX is around $700 million, a high not seen since the excitement surrounding May 12’s bitcoin halving, a scheduled reduction in the cryptocurrency’s new supply output that happens roughly every four years.
Read More:Bitcoin Halving 2020 Explained
“We still see a lot of interest and building momentum for derivatives and expect this to continue for some time, particularly as traditional managers seem less interested in holding the underlying but still want exposure to price movement,” said Douglas Bilyk, business development director at crypto brokerage Copper.
Derivatives might be a factor, but cryptocurrencies other than bitcoin could weigh on the market as well, Bilyk added. “We’re expecting a large bitcoin move but direction is unclear. One ‘canary in the coal mine’ might be the bullish moves in some of the blockchain development tokens these past few weeks.”
The second-largest cryptocurrency by market capitalization,ether(ETH), was up Friday, trading around $233 and climbing 0.33% in 24 hours as of 20:00 UTC (4:00 p.m. EDT).
This week, the Ethereum network experienced the most transactions in over two and a half years. On Monday, total transactions reached 1,151,834, the first time it has been that high since Jan. 18, 2018, according to data from aggregator Etherscan.
With decentralized exchanges now around $60 million in volume per day, tokens on the Ethereum network, often referred to as altcoins, are giving traders new ideas to profit within the cryptocurrency ecosystem. “I don’t see bitcoin as a clear trading opportunity right now, however there are some opportunities with altcoins that have performed really well lately.” said Alessandro Andreotti, an Italy-based bitcoin over-the-counter trader.
Read More:Crypto Custodian Curv Is Helping Institutions Dabble in DeFi
Digital assets on theCoinDesk 20are mostly in the red Friday. Notable winners as of 20:00 UTC (4:00 p.m. ET):
• stellar(XLM) + 11%
• 0x(ZRX) + 3.5%
• dogecoin(DOGE) + 3.3%
Read More:Aave’s LEND Token Is Now Up 1,600% in 2020
Notable losers as of 20:00 UTC (4:00 p.m. ET):
• basic attention token(BAT) – 2%
• chainlink(LINK) – 1.3%
• cardano(ADA) – 1%
Read More:ConsenSys Accused of Stealing Payment Startup’s Code for Rival Service
Equities:
• In Asia, the Nikkei 225 closed down 0.32% because oflosses in the industrial and real estate sectors.
• In Europe, the FTSE 100 in London ended the day in the green 0.63% as European Union leadersheld a summit to make plans for more economic stimulus.
• The U.S. S&P 500 index gained 0.30% during alightly traded session amid increasing coronavirus cases and possible fresh U.S. stimulus.
Read More:CoinDesk Quarterly Review, Q2 2020
Commodities:
• Oil is down 0.23%. Price per barrel of West Texas Intermediate crude: $40.59
• Gold is up 0.76% Friday at $1,810 per ounce
Read More:Binance Pool Poised to Grab More Bitcoin Hashrate in Russia and Asia
Treasurys:
• U.S. Treasury bonds all climbed Friday. Yields, which move in the opposite direction as price, were up most on the two-year bond, in the green 5.7%.
Read More:BlockFi Hires Former Deutsche Bank, Barclays Alum as General Counsel
• Market Wrap: Derivatives, Altcoins Take Market Spotlight as Bitcoin Dozes at $9,100
• Market Wrap: Derivatives, Altcoins Take Market Spotlight as Bitcoin Dozes at $9,100 || Market Wrap: Derivatives, Altcoins Take Market Spotlight as Bitcoin Dozes at $9,100: Traders want a bitcoin price breakout but they aren’t sure when that will happen.
• Bitcoin(BTC) trading around $9,174 as of 20:00 UTC (4 p.m. ET). Gaining 0.64% over the previous 24 hours.
• Bitcoin’s 24-hour range: $9,054-9,184
• BTC above 10-day and 50-day moving average, a bullish signal for market technicians.
Read More:Exchanges See Drop in Volumes as Bitcoin Volatility Approaches 2020 Low
Traders are optimistic that bitcoin’s weak market, with low volumes and low volatility, can quickly change. Price movement outside of the low $9,000s territory is key, said Rupert Douglas, head of business development and institutional sales at London brokerage Koine. “This tussle between bulls and bears from $9,000 to $9,500 is a slow grind at the moment. A close outside these boundaries will likely see a sharp move either way.”
Related:Bitcoin Futures Trading Volume Slips to 3-Month Low on CME
It will take more exciting news thana Twitter hackattempting to scam social media users out of bitcoin to bring the world’s oldest cryptocurrency out of stagnation, said Jean-Baptiste Pavageau, a partner at Paris-based quantitative trading firm ExoAlpha.
Read More:Why Bitcoin Traders Couldn’t Give a Sat About the Twitter Hack
“The fact that bitcoin didn’t move because of the Twitter scam shows the importance of $9,100-$9,200 range to either consolidate the trend and move higher or invalidate the level and fall toward $8,200,” said Pavageau.
In a sleepy bitcoin sector, several analysts pointed to the crypto derivatives market as a sign the industry is still growing. “In general, the markets have come a long way and I am particularly excited about some of the new derivatives platforms that have emerged.” Mick Sherman, founder of New York-based Trading Firm Altcoin Advisors.
Related:
In particular, CME, Binance and ByBit have seen growth in open interest.
In addition, U.S. dollar-denominated open interest on Seychelles-based derivatives exchange BitMEX is around $700 million, a high not seen since the excitement surrounding May 12’s bitcoin halving, a scheduled reduction in the cryptocurrency’s new supply output that happens roughly every four years.
Read More:Bitcoin Halving 2020 Explained
“We still see a lot of interest and building momentum for derivatives and expect this to continue for some time, particularly as traditional managers seem less interested in holding the underlying but still want exposure to price movement,” said Douglas Bilyk, business development director at crypto brokerage Copper.
Derivatives might be a factor, but cryptocurrencies other than bitcoin could weigh on the market as well, Bilyk added. “We’re expecting a large bitcoin move but direction is unclear. One ‘canary in the coal mine’ might be the bullish moves in some of the blockchain development tokens these past few weeks.”
The second-largest cryptocurrency by market capitalization,ether(ETH), was up Friday, trading around $233 and climbing 0.33% in 24 hours as of 20:00 UTC (4:00 p.m. EDT).
This week, the Ethereum network experienced the most transactions in over two and a half years. On Monday, total transactions reached 1,151,834, the first time it has been that high since Jan. 18, 2018, according to data from aggregator Etherscan.
With decentralized exchanges now around $60 million in volume per day, tokens on the Ethereum network, often referred to as altcoins, are giving traders new ideas to profit within the cryptocurrency ecosystem. “I don’t see bitcoin as a clear trading opportunity right now, however there are some opportunities with altcoins that have performed really well lately.” said Alessandro Andreotti, an Italy-based bitcoin over-the-counter trader.
Read More:Crypto Custodian Curv Is Helping Institutions Dabble in DeFi
Digital assets on theCoinDesk 20are mostly in the red Friday. Notable winners as of 20:00 UTC (4:00 p.m. ET):
• stellar(XLM) + 11%
• 0x(ZRX) + 3.5%
• dogecoin(DOGE) + 3.3%
Read More:Aave’s LEND Token Is Now Up 1,600% in 2020
Notable losers as of 20:00 UTC (4:00 p.m. ET):
• basic attention token(BAT) – 2%
• chainlink(LINK) – 1.3%
• cardano(ADA) – 1%
Read More:ConsenSys Accused of Stealing Payment Startup’s Code for Rival Service
Equities:
• In Asia, the Nikkei 225 closed down 0.32% because oflosses in the industrial and real estate sectors.
• In Europe, the FTSE 100 in London ended the day in the green 0.63% as European Union leadersheld a summit to make plans for more economic stimulus.
• The U.S. S&P 500 index gained 0.30% during alightly traded session amid increasing coronavirus cases and possible fresh U.S. stimulus.
Read More:CoinDesk Quarterly Review, Q2 2020
Commodities:
• Oil is down 0.23%. Price per barrel of West Texas Intermediate crude: $40.59
• Gold is up 0.76% Friday at $1,810 per ounce
Read More:Binance Pool Poised to Grab More Bitcoin Hashrate in Russia and Asia
Treasurys:
• U.S. Treasury bonds all climbed Friday. Yields, which move in the opposite direction as price, were up most on the two-year bond, in the green 5.7%.
Read More:BlockFi Hires Former Deutsche Bank, Barclays Alum as General Counsel
• Market Wrap: Derivatives, Altcoins Take Market Spotlight as Bitcoin Dozes at $9,100
• Market Wrap: Derivatives, Altcoins Take Market Spotlight as Bitcoin Dozes at $9,100 || Market Wrap: Derivatives, Altcoins Take Market Spotlight as Bitcoin Dozes at $9,100: Traders want a bitcoin price breakout but they aren’t sure when that will happen. Bitcoin (BTC) trading around $9,174 as of 20:00 UTC (4 p.m. ET). Gaining 0.64% over the previous 24 hours. Bitcoin’s 24-hour range: $9,054-9,184 BTC above 10-day and 50-day moving average, a bullish signal for market technicians. Read More: Exchanges See Drop in Volumes as Bitcoin Volatility Approaches 2020 Low Traders are optimistic that bitcoin’s weak market, with low volumes and low volatility, can quickly change. Price movement outside of the low $9,000s territory is key, said Rupert Douglas, head of business development and institutional sales at London brokerage Koine. “This tussle between bulls and bears from $9,000 to $9,500 is a slow grind at the moment. A close outside these boundaries will likely see a sharp move either way.” Related: Bitcoin Futures Trading Volume Slips to 3-Month Low on CME It will take more exciting news than a Twitter hack attempting to scam social media users out of bitcoin to bring the world’s oldest cryptocurrency out of stagnation, said Jean-Baptiste Pavageau, a partner at Paris-based quantitative trading firm ExoAlpha. Read More: Why Bitcoin Traders Couldn’t Give a Sat About the Twitter Hack “The fact that bitcoin didn’t move because of the Twitter scam shows the importance of $9,100-$9,200 range to either consolidate the trend and move higher or invalidate the level and fall toward $8,200,” said Pavageau. In a sleepy bitcoin sector, several analysts pointed to the crypto derivatives market as a sign the industry is still growing. “In general, the markets have come a long way and I am particularly excited about some of the new derivatives platforms that have emerged.” Mick Sherman, founder of New York-based Trading Firm Altcoin Advisors. Related: In particular, CME, Binance and ByBit have seen growth in open interest. In addition, U.S. dollar-denominated open interest on Seychelles-based derivatives exchange BitMEX is around $700 million, a high not seen since the excitement surrounding May 12’s bitcoin halving, a scheduled reduction in the cryptocurrency’s new supply output that happens roughly every four years. Story continues Read More: Bitcoin Halving 2020 Explained “We still see a lot of interest and building momentum for derivatives and expect this to continue for some time, particularly as traditional managers seem less interested in holding the underlying but still want exposure to price movement,” said Douglas Bilyk, business development director at crypto brokerage Copper. Derivatives might be a factor, but cryptocurrencies other than bitcoin could weigh on the market as well, Bilyk added. “We’re expecting a large bitcoin move but direction is unclear. One ‘canary in the coal mine’ might be the bullish moves in some of the blockchain development tokens these past few weeks.” Ethereum transactions highest since 2018 The second-largest cryptocurrency by market capitalization, ether (ETH), was up Friday, trading around $233 and climbing 0.33% in 24 hours as of 20:00 UTC (4:00 p.m. EDT). This week, the Ethereum network experienced the most transactions in over two and a half years. On Monday, total transactions reached 1,151,834, the first time it has been that high since Jan. 18, 2018, according to data from aggregator Etherscan. With decentralized exchanges now around $60 million in volume per day, tokens on the Ethereum network, often referred to as altcoins, are giving traders new ideas to profit within the cryptocurrency ecosystem. “I don’t see bitcoin as a clear trading opportunity right now, however there are some opportunities with altcoins that have performed really well lately.” said Alessandro Andreotti, an Italy-based bitcoin over-the-counter trader. Read More: Crypto Custodian Curv Is Helping Institutions Dabble in DeFi Other markets Digital assets on the CoinDesk 20 are mostly in the red Friday. Notable winners as of 20:00 UTC (4:00 p.m. ET): stellar (XLM) + 11% 0x (ZRX) + 3.5% dogecoin (DOGE) + 3.3% Read More: Aave’s LEND Token Is Now Up 1,600% in 2020 Notable losers as of 20:00 UTC (4:00 p.m. ET): basic attention token (BAT) – 2% chainlink (LINK) – 1.3% cardano (ADA) – 1% Read More: ConsenSys Accused of Stealing Payment Startup’s Code for Rival Service Equities: In Asia, the Nikkei 225 closed down 0.32% because of losses in the industrial and real estate sectors . In Europe, the FTSE 100 in London ended the day in the green 0.63% as European Union leaders held a summit to make plans for more economic stimulus . The U.S. S&P 500 index gained 0.30% during a lightly traded session amid increasing coronavirus cases and possible fresh U.S. stimulus . Read More: CoinDesk Quarterly Review, Q2 2020 Commodities: Oil is down 0.23%. Price per barrel of West Texas Intermediate crude: $40.59 Gold is up 0.76% Friday at $1,810 per ounce Read More: Binance Pool Poised to Grab More Bitcoin Hashrate in Russia and Asia Treasurys: U.S. Treasury bonds all climbed Friday. Yields, which move in the opposite direction as price, were up most on the two-year bond, in the green 5.7%. Read More: BlockFi Hires Former Deutsche Bank, Barclays Alum as General Counsel Related Stories Market Wrap: Derivatives, Altcoins Take Market Spotlight as Bitcoin Dozes at $9,100 Market Wrap: Derivatives, Altcoins Take Market Spotlight as Bitcoin Dozes at $9,100 || Twitter's Bitcoin hackers had almost limitless access: On Wednesday, July 15, Twitter was the target of a very public hack attack that’s still sending shockwaves across the internet. In what is a major security breach for the company, a handful of the most-followed Twitter accounts belonging to some of the world’s wealthiest individuals and companies all published a tweet asking followers to send Bitcoin with a claim offering to double their money in return. Turns out it was a coordinated social engineering attack on Twitter’s employees that allowed the perpetrators access to company admin panels. Now, the FBI has started an investigation . Just hackers burning up a 0day like it’s a fire sale Imagine getting the keys to the Twitter kingdom -- access to all the account admin panels in the world. What would you do? You could grab high-value accounts and sell them on the black market. You could extract unimaginably valuable blackmail material from DMs. Or maybe you'd wait until an event like the upcoming US election to launch an evil plan of some kind. But if you're any kind of seasoned attacker, you wouldn't blow your own cover by tweeting from the world's biggest accounts -- for a bitcoin scam. Sure, some have posited that the cryptocurrency spam tweets were a distraction for something bigger going on in the background. Maybe the attackers already did their sneaky stuff and are ready to do what's called "burning your 0day." And boy, did they burn that perfectly good 0day hot, bright, and fast. We detected what we believe to be a coordinated social engineering attack by people who successfully targeted some of our employees with access to internal systems and tools. — Twitter Support (@TwitterSupport) July 16, 2020 Twitter’s response — a worrying five hours later — was to do something few knew the company had the power to do: lock every verified account across the globe. Unfortunately this is akin to discovering a burglar is in your house because they started blasting music in your living room, and your response is to turn off all the lights. Story continues Except freezing the “blue checks” is actually worse, because many essential emergency services around the world use Twitter as a critical communication channel. Like the National Weather Service, which found itself suddenly unable to tweet weather warnings . The account freezes appeared to be a decision governed by panic. Twitter seemed to have no idea what was happening or how to stop it. And wow, do we have questions about the who, what, why, and future implications of it all. Blue checks trying to communicate through retweets pic.twitter.com/FIbBmWH4j8 — Andrew Roth (@RothTheReporter) July 15, 2020 In a tweet thread posted during and after the hack attack, Twitter wrote: “We detected what we believe to be a coordinated social engineering attack by people who successfully targeted some of our employees with access to internal systems and tools.” The verified account freeze also impacted those users’ ability to reset their passwords. We know they used this access to take control of many highly-visible (including verified) accounts and Tweet on their behalf. We’re looking into what other malicious activity they may have conducted or information they may have accessed and will share more here as we have it. — Twitter Support (@TwitterSupport) July 16, 2020 Twitter bracketed the thread with a caveat that its investigation is “ongoing.” Don’t worry the rich celebrities will be okay The compromised accounts included Jeff Bezos, Bill Gates, Elon Musk, Bill Gates, Barack Obama, Apple, Kanye West, Joe Biden, Uber, Mike Bloomberg, Floyd Mayweather, Wiz Khalifa, and others. Twitter updated its ongoing incident report support thread Thursday evening to state that 130 accounts were affected by the attack. Based on what we know right now, we believe approximately 130 accounts were targeted by the attackers in some way as part of the incident. For a small subset of these accounts, the attackers were able to gain control of the accounts and then send Tweets from those accounts. — Twitter Support (@TwitterSupport) July 17, 2020 The problem is that the tweets looked normal to anyone following Kanye or Elon Musk, who basically tweet out John McAfee-style crazy claptrap on the regular, and a significant number of people fell for the scam. As we reported yesterday , the haul equaled around $118,000 and “At the time of writing, all but $114 of that $118,000 haul has been transferred to other wallets.” That's a paltry amount of money, especially when, according to Glassdoor , the lower end of what most engineers at Twitter make $131,403 a year. This was an intrusion with enormous impact, the potential for extreme scope, and a serious amount of damage. You’d assume the attackers wanted more than what it takes to eat and sleep in the poor parts of San Francisco. But again, even though the attack began with a slightly different bitcoin scam, the perpetrators went public immediately, guaranteeing they'd be found out and shut down right away. Of course, one very strong possibility is that the attackers were just really bad at crime. Many observers immediately assumed that these high-profile accounts must have lax security standards, or don’t have two-factor enabled. However, Reuters reported that “Several users with two-factor authentication — a security procedure that helps prevent break-in attempts — said they were powerless to stop it.” Twitter 'blacklist' (Motherboard / Vice) Motherboard obtained anonymous comment from sources at Twitter who said the account takeovers were done via access to an internal account management tool; Vice published screenshots of the tool (while anyone on Twitter publishing the same screenshots got put in Twitter jail real quick). If Twitter was trying to stop the spread of those images, this is the internet after all. They spread quickly to news sites and forums. The hack’s forbidden screencaps revealed the presence of “blacklist” buttons on individual account pages. Many now want to know, is that evidence of shadowban and blacklisting we see ? Twitter users who work in and around human sexuality have for years made a case that they are being “ shadowbanned ” by Twitter, the practice of silencing accounts by hiding them in various ways. Only recently have far-right conspiracy theorists co-opted the shadowban concept to “play the [censorship] refs” in their favor. Now Twitter will be facing direct questions it has struggled to avoid confronting head-on . When reached for comment about “blacklist” buttons seen on account pages in Twitter’s compromised management tool, The company’s spokesperson did not directly address the question. Instead, they said via email, “Since July 2018 we’ve made clear that we do not shadowban.” Twitter’s rep included a boilerplate listing Twitter policy on Trends content inclusion and exclusion, content newsworthiness, trending topic hashtag exclusion policy, and search rules and restrictions . A different source told Motherboard the allegedly compromised Twitter employee was paid for their participation in the low-rent bitcoin scheme. “A Twitter spokesperson told Motherboard that the company is still investigating whether the employee hijacked the accounts themselves or gave hackers access to the tool,” Vice wrote. Turns out having an unregulated cartoon crime currency and policy conducted by planetary internet chatroom had some easily forseeable drawbacks — Pinboard (@Pinboard) July 16, 2020 Since the tool allowed account management, this confirmed early speculation that the attackers not only had the ability to change account emails and reset passwords, but that it also granted them access to the targeted users’ direct messages (DMs). That is a breathtaking problem, considering that many people — including celebrities and politicians — don’t understand that Twitter DMs are not protected with end-to-end encryption, and are not particularly secure. Senator Ed Markey (D-MA) addressed exactly that in a statement saying Twitter “must fully disclose what happened and what it is doing to ensure this never happens again”. This was in addition to Senator Josh Hawley (R-MO) firing off an angry letter to Jack Dorsey, and Senator Ron Wyden (D-OR) issuing a similar statement, adding “this is a vulnerability that has gone on too long.” U.S. Senator Ron Wyden, D-Ore., speaks at a Senate Finance Committee hearing on President Donald Trump's 2020 Trade Policy Agenda on Capitol Hill in Washington, D.C., U.S., June 17, 2020. Anna Moneymaker/Pool via REUTERS (POOL New / Reuters) Which is an interesting point to make, if the “vulnerability” in question was a paid-off employee — the vulnerability was human. That means the attack wasn’t necessarily as technical as it was a pretty capital feat of social engineering. This would most likely be a quid pro quo social engineering attack, where the human vulnerability is offered something in exchange for the access, information, or credentials the attacker wants. It’s also plausible that the attacker used pretexting, where they pretend to be a person with a legitimate need for access, relying on the victim’s trust and gullibility. (“No, I swear, I really need to get in that server closet.”) Another possibility would be baiting, or a bait-and-switch in which the attacker might trick an employee into inserting a malicious USB stick or file into a computer to compromise it. While this is certainly a huge black eye for Twitter, what might be more interesting to explore is what the attack tells us about who did this, and why. Which is something we’ll most likely find out, based on my colleague’s excellent point that bitcoin is not actually anonymous, and hiding the loot conversion trail is not trivial. Certainly not for hackers who decided to make what could have been the heist of the century into a clumsy bitcoin smash and grab -- and didn’t even ban a single Nazi in the process.
[Social Media Buzz]
None available.
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9164.23, 9374.89, 9525.36, 9581.07, 9536.89, 9677.11, 9905.17, 10990.87, 10912.82, 11100.47
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Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 37575.18, 39208.77, 36894.41, 35551.96, 35862.38, 33560.71, 33472.63, 37345.12, 36702.60, 37334.40, 35552.52, 39097.86, 40218.48, 40406.27, 38347.06, 38053.50, 35787.25, 35615.87, 35698.30, 31676.69, 32505.66, 33723.03, 34662.44, 31637.78, 32186.28, 34649.64, 34434.34, 35867.78, 35040.84, 33572.12, 33897.05, 34668.55, 35287.78, 33746.00, 34235.20, 33855.33, 32877.37, 33798.01, 33520.52, 34240.19, 33155.85, 32702.03, 32822.35, 31780.73, 31421.54, 31533.07, 31796.81, 30817.83, 29807.35, 32110.69, 32313.11, 33581.55, 34292.45, 35350.19, 37337.54, 39406.94, 39995.91, 40008.42, 42235.55, 41626.20, 39974.89, 39201.95, 38152.98, 39747.50, 40869.55, 42816.50, 44555.80, 43798.12, 46365.40, 45585.03, 45593.64, 44428.29, 47793.32, 47096.95, 47047.00, 46004.48, 44695.36, 44801.19, 46717.58, 49339.18, 48905.49, 49321.65, 49546.15, 47706.12, 48960.79, 46942.22, 49058.67, 48902.40, 48829.83, 47054.98.
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[Bitcoin Technical Analysis for 2021-08-30]
Volume: 31847007016, RSI (14-day): 53.85, 50-day EMA: 43430.57, 200-day EMA: 40511.05
[Wider Market Context]
Gold Price: 1809.00, Gold RSI: 55.83
Oil Price: 69.21, Oil RSI: 52.65
[Recent News (last 7 days)]
SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in Coinbase Global, Inc., of Class Action Lawsuit and Upcoming Deadline – COIN: NEW YORK, NY / ACCESSWIRE / August 29, 2021 /Pomerantz LLP announces that a class action lawsuit has been filed against Coinbase Global, Inc. ("Coinbase" or the "Company") (NASDAQ:COIN) and certain of its officers. The class action, filed in the United States District Court for the Northern District of California, and docketed under 21-cv-06049, is on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise acquired Coinbase Class A common stock pursuant and/or traceable to the Company's registration statement and prospectus (collectively, the "Offering Materials") for the resale of up to 114,850,769 shares of its Class A common stock, whereby Coinbase began trading as a public company on or around April 14, 2021 (the "Offering"). Plaintiff pursues claims against the Defendants under the Securities Act of 1933.
If you are a shareholder who purchased or otherwise acquired Coinbase Class A common stock pursuant and/or traceable to the Company's registration statement and prospectus, you have until September 20, 2021 to ask the Court to appoint you as Lead Plaintiff for the class. A copy of the Complaint can be obtained atwww.pomerantzlaw.com. To discuss this action, contact Robert S. Willoughby atnewaction@pomlaw.comor 888.476.6529 (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.
[Click here for information about joining the class action]
Coinbase "powers the cryptoeconomy," offering a "trusted platform" for sending and receiving Bitcoin and other digital assets built using blockchain technology to approximately 43 million retail users, 7,000 institutions, and 115,000 ecosystem partners in over 100 countries.
On April 14, 2021, Coinbase filed its prospectus on Form 424B4 with the Securities and Exchange Commission, which forms part of the Registration Statement. The Company registered for the resale of up to 114,850,769 shares of its Class A common stock by registered shareholders. According to the Registration Statement, the resale of the Company's stock was not underwritten by any investment bank and the registered stockholders would purportedly elect whether or not to sell their shares. Such sales, if any, would be brokerage transactions on the Nasdaq Global Select Market, and Coinbase would purportedly not receive any proceeds from the sale of shares of Class A common stock by the registered stockholders. Thus, Coinbase's operations, including its liquidity and capital resources, would continue to be financed with cash flow from operating activities and net proceeds from the sale of convertible preferred stock. As of December 31, 2020, Coinbase had cash and cash equivalents of $1.1 billion, exclusive of restricted cash and customer custodial funds.
The complaint alleges that, the Offering Materials were false and misleading and omitted to state that, at the time of the Offering: (1) the Company required a sizeable cash injection; (2) the Company's platform was susceptible to service-level disruptions, which were increasingly likely to occur as the Company scaled its services to a larger user base; and (3) as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.
Only a month later, the high-flying promise of Coinbase came to a screaming halt, as Coinbase conceded the need to raise capital and revealed performance issues that prevented users' ability to trade cryptocurrencies. On May 17, 2021, Coinbase announced its plans to raise about $1.25 billion via a convertible bond sale. Then, on May 19, 2021, Coinbase revealed technical problems, including "delays . . . due to network congestion" effecting those who want to get their money out.
On this news, the Company's share price fell $23.44 per share, nearly 10% over two consecutive trading sessions, to close at $224.80 per share on May 19, 2021, thereby injuring investors.
By the commencement of this action, Coinbase stock traded as low as $208.00 per share, a significant decline from its April 14, 2021 opening price of $381.00 per share.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. Seewww.pomlaw.com.
SOURCE:Pomerantz LLP
View source version on accesswire.com:https://www.accesswire.com/661894/SHAREHOLDER-ALERT-Pomerantz-Law-Firm-Reminds-Shareholders-with-Losses-on-their-Investment-in-Coinbase-Global-Inc-of-Class-Action-Lawsuit-and-Upcoming-Deadline-COIN || Kessler Topaz Meltzer & Check, LLP Reminds Investors of Securities Fraud Class Action Lawsuit Filed Against Coinbase Global Inc.: RADNOR, Pa., Aug. 29, 2021 (GLOBE NEWSWIRE) -- The law firm of Kessler Topaz Meltzer & Check, LLP announces that a securities fraud class action lawsuit has been filed in the United States District Court for the Northern District of California against Coinbase Global Inc. (NASDAQ: COIN) (“Coinbase”) on behalf of those who purchased or acquired CoinbaseClass A common stock pursuant and/or traceable to the registration statement and prospectus (collectively, the “Offering Materials”) for the resale of up to 114,850,769 shares of its Class A common stock, whereby Coinbase began trading as a public company on or around April 14, 2021 (the “Offering”).
Deadline Reminder: Investors who purchased or acquired Coinbase Class A common stockpursuant and/or traceable to the Offering may,no later than September 20, 2021, seek to be appointed as a lead plaintiff representative of the class. For additional information or to learn how to participate in this litigation please contact Kessler Topaz Meltzer & Check, LLP: James Maro, Esq. (484) 270-1453; toll free at (844) 887-9500; via e-mail atinfo@ktmc.com;orclickhttps://www.ktmc.com/coinbase-global-class-action-lawsuit?utm_source=PR&utm_medium=Link&utm_campaign=coinbase
According to the complaint, Coinbase “powers the cryptoeconomy,” offering a “trusted platform” for sending and receiving Bitcoin and other digital assets built using blockchain technology to approximately 43 million retail users, 7,000 institutions, and 115,000 ecosystem partners in over 100 countries.
On April 14, 2021, Coinbase filed its prospectus on a Form 424B4, which forms part of the registration statement. Coinbase registered for the resale of up to 114,850,769 shares of its Class A common stock by registered shareholders. According to the registration statement, the resale of Coinbase’s stock was not underwritten by any investment bank and the registered stockholders would purportedly elect whether or not to sell their shares. Such sales, if any, would be brokerage transactions on the NASDAQ, and Coinbase would purportedly not receive any proceeds from the sale of shares of Class A common stock by the registered stockholders. Thus, Coinbase’s operations would continue to be financed with cash flow from operating activities and net proceeds from the sale of convertible preferred stock. As of December 31, 2020, Coinbase had cash and cash equivalents of $1.1 billion, exclusive of restricted cash and customer custodial funds.
The complaint alleges that one month later, the high-flying promise of Coinbase came to a screaming halt, as Coinbase conceded the need to raise capital and revealed performance issues that prevented users’ ability to trade cryptocurrencies. On May 17, 2021, Coinbase announced its plans to raise about $1.25 billion via a convertible bond sale. Then, on May 19, 2021, Coinbase revealed technical problems, including “delays . . . due to network congestion” affecting those who want to get their money out.
Following this news, Coinbase’s share price fell $23.44 per share, nearly 10%, over two consecutive trading sessions, to close at $224.80 per share on May 19, 2021. By the time the complaint was filed, Coinbase stock traded as low as $208.00 per share, a decline from its April 14, 2021 opening price of $381.00 per share.
The complaint alleges that the Offering Materials were false and misleading and omitted to state that, at the time of the Offering: (1) Coinbase required a sizeable cash injection; (2) Coinbase’s platform was susceptible to service-level disruptions, which were increasingly likely to occur as Coinbase scaled its services to a larger user base; and (3) as a result of the foregoing, the defendants’ positive statements about Coinbase’s business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.
Coinbase investors may,no later than September 20, 2021, seek to be appointed as a lead plaintiff representative of the class through Kessler Topaz Meltzer & Check, LLP or other counsel, or may choose to do nothing and remain an absent class member. A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. In order to be appointed as a lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff.
Kessler Topaz Meltzer & Check, LLP prosecutes class actions in state and federal courts throughout the country involving securities fraud, breaches of fiduciary duties and other violations of state and federal law. Kessler Topaz Meltzer & Check, LLP is a driving force behind corporate governance reform, and has recovered billions of dollars on behalf of institutional and individual investors from the United States and around the world. The firm represents investors, consumers and whistleblowers (private citizens who report fraudulent practices against the government and share in the recovery of government dollars). The complaint in this action was not filed by Kessler Topaz Meltzer & Check, LLP. For more information about Kessler Topaz Meltzer & Check, LLP please visitwww.ktmc.com.
CONTACT:
Kessler Topaz Meltzer & Check, LLPJames Maro, Jr., Esq.280 King of Prussia RoadRadnor, PA 19087(844) 887-9500 (toll free)info@ktmc.com || SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in Coinbase Global, Inc., of Class Action Lawsuit and Upcoming Deadline COIN: NEW YORK, NY / ACCESSWIRE / August 29, 2021 / Pomerantz LLP announces that a class action lawsuit has been filed against Coinbase Global, Inc. ("Coinbase" or the "Company") (NASDAQ:COIN) and certain of its officers. The class action, filed in the United States District Court for the Northern District of California, and docketed under 21-cv-06049, is on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise acquired Coinbase Class A common stock pursuant and/or traceable to the Company's registration statement and prospectus (collectively, the "Offering Materials") for the resale of up to 114,850,769 shares of its Class A common stock, whereby Coinbase began trading as a public company on or around April 14, 2021 (the "Offering"). Plaintiff pursues claims against the Defendants under the Securities Act of 1933. If you are a shareholder who purchased or otherwise acquired Coinbase Class A common stock pursuant and/or traceable to the Company's registration statement and prospectus, you have until September 20, 2021 to ask the Court to appoint you as Lead Plaintiff for the class. A copy of the Complaint can be obtained at www.pomerantzlaw.com . To discuss this action, contact Robert S. Willoughby at newaction@pomlaw.com or 888.476.6529 (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased. [Click here for information about joining the class action] Coinbase "powers the cryptoeconomy," offering a "trusted platform" for sending and receiving Bitcoin and other digital assets built using blockchain technology to approximately 43 million retail users, 7,000 institutions, and 115,000 ecosystem partners in over 100 countries. On April 14, 2021, Coinbase filed its prospectus on Form 424B4 with the Securities and Exchange Commission, which forms part of the Registration Statement. The Company registered for the resale of up to 114,850,769 shares of its Class A common stock by registered shareholders. According to the Registration Statement, the resale of the Company's stock was not underwritten by any investment bank and the registered stockholders would purportedly elect whether or not to sell their shares. Such sales, if any, would be brokerage transactions on the Nasdaq Global Select Market, and Coinbase would purportedly not receive any proceeds from the sale of shares of Class A common stock by the registered stockholders. Thus, Coinbase's operations, including its liquidity and capital resources, would continue to be financed with cash flow from operating activities and net proceeds from the sale of convertible preferred stock. As of December 31, 2020, Coinbase had cash and cash equivalents of $1.1 billion, exclusive of restricted cash and customer custodial funds. Story continues The complaint alleges that, the Offering Materials were false and misleading and omitted to state that, at the time of the Offering: (1) the Company required a sizeable cash injection; (2) the Company's platform was susceptible to service-level disruptions, which were increasingly likely to occur as the Company scaled its services to a larger user base; and (3) as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects, were materially misleading and/or lacked a reasonable basis. Only a month later, the high-flying promise of Coinbase came to a screaming halt, as Coinbase conceded the need to raise capital and revealed performance issues that prevented users' ability to trade cryptocurrencies. On May 17, 2021, Coinbase announced its plans to raise about $1.25 billion via a convertible bond sale. Then, on May 19, 2021, Coinbase revealed technical problems, including "delays . . . due to network congestion" effecting those who want to get their money out. On this news, the Company's share price fell $23.44 per share, nearly 10% over two consecutive trading sessions, to close at $224.80 per share on May 19, 2021, thereby injuring investors. By the commencement of this action, Coinbase stock traded as low as $208.00 per share, a significant decline from its April 14, 2021 opening price of $381.00 per share. Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com . SOURCE: Pomerantz LLP View source version on accesswire.com: https://www.accesswire.com/661894/SHAREHOLDER-ALERT-Pomerantz-Law-Firm-Reminds-Shareholders-with-Losses-on-their-Investment-in-Coinbase-Global-Inc-of-Class-Action-Lawsuit-and-Upcoming-Deadline-COIN || Kessler Topaz Meltzer & Check, LLP Reminds Investors of Securities Fraud Class Action Lawsuit Filed Against Coinbase Global Inc.: RADNOR, Pa., Aug. 29, 2021 (GLOBE NEWSWIRE) -- The law firm of Kessler Topaz Meltzer & Check, LLP announces that a securities fraud class action lawsuit has been filed in the United States District Court for the Northern District of California against Coinbase Global Inc. (NASDAQ: COIN) (“Coinbase”) on behalf of those who purchased or acquired Coinbase Class A common stock pursuant and/or traceable to the registration statement and prospectus (collectively, the “Offering Materials”) for the resale of up to 114,850,769 shares of its Class A common stock, whereby Coinbase began trading as a public company on or around April 14, 2021 (the “Offering”) . Deadline Reminder: Investors who purchased or acquired Coinbase Class A common stock pursuant and/or traceable to the Offering may, no later than September 20, 2021 , seek to be appointed as a lead plaintiff representative of the class. For additional information or to learn how to participate in this litigation please contact Kessler Topaz Meltzer & Check, LLP: James Maro, Esq. (484) 270-1453; toll free at (844) 887-9500; via e-mail at info@ktmc.com ; or click https://www.ktmc.com/coinbase-global-class-action-lawsuit?utm_source=PR&utm_medium=Link&utm_campaign=coinbase According to the complaint, Coinbase “powers the cryptoeconomy,” offering a “trusted platform” for sending and receiving Bitcoin and other digital assets built using blockchain technology to approximately 43 million retail users, 7,000 institutions, and 115,000 ecosystem partners in over 100 countries. On April 14, 2021, Coinbase filed its prospectus on a Form 424B4, which forms part of the registration statement. Coinbase registered for the resale of up to 114,850,769 shares of its Class A common stock by registered shareholders. According to the registration statement, the resale of Coinbase’s stock was not underwritten by any investment bank and the registered stockholders would purportedly elect whether or not to sell their shares. Such sales, if any, would be brokerage transactions on the NASDAQ, and Coinbase would purportedly not receive any proceeds from the sale of shares of Class A common stock by the registered stockholders. Thus, Coinbase’s operations would continue to be financed with cash flow from operating activities and net proceeds from the sale of convertible preferred stock. As of December 31, 2020, Coinbase had cash and cash equivalents of $1.1 billion, exclusive of restricted cash and customer custodial funds. Story continues The complaint alleges that one month later, the high-flying promise of Coinbase came to a screaming halt, as Coinbase conceded the need to raise capital and revealed performance issues that prevented users’ ability to trade cryptocurrencies. On May 17, 2021, Coinbase announced its plans to raise about $1.25 billion via a convertible bond sale. Then, on May 19, 2021, Coinbase revealed technical problems, including “delays . . . due to network congestion” affecting those who want to get their money out. Following this news, Coinbase’s share price fell $23.44 per share, nearly 10%, over two consecutive trading sessions, to close at $224.80 per share on May 19, 2021. By the time the complaint was filed, Coinbase stock traded as low as $208.00 per share, a decline from its April 14, 2021 opening price of $381.00 per share. The complaint alleges that the Offering Materials were false and misleading and omitted to state that, at the time of the Offering: (1) Coinbase required a sizeable cash injection; (2) Coinbase’s platform was susceptible to service-level disruptions, which were increasingly likely to occur as Coinbase scaled its services to a larger user base; and (3) as a result of the foregoing, the defendants’ positive statements about Coinbase’s business, operations, and prospects, were materially misleading and/or lacked a reasonable basis. Coinbase investors may, no later than September 20, 2021 , seek to be appointed as a lead plaintiff representative of the class through Kessler Topaz Meltzer & Check, LLP or other counsel, or may choose to do nothing and remain an absent class member. A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. In order to be appointed as a lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff. Kessler Topaz Meltzer & Check, LLP prosecutes class actions in state and federal courts throughout the country involving securities fraud, breaches of fiduciary duties and other violations of state and federal law. Kessler Topaz Meltzer & Check, LLP is a driving force behind corporate governance reform, and has recovered billions of dollars on behalf of institutional and individual investors from the United States and around the world. The firm represents investors, consumers and whistleblowers (private citizens who report fraudulent practices against the government and share in the recovery of government dollars). The complaint in this action was not filed by Kessler Topaz Meltzer & Check, LLP. For more information about Kessler Topaz Meltzer & Check, LLP please visit www.ktmc.com . CONTACT: Kessler Topaz Meltzer & Check, LLP James Maro, Jr., Esq. 280 King of Prussia Road Radnor, PA 19087 (844) 887-9500 (toll free) info@ktmc.com || Tom Brady Launches New NFT Platform with Japanese Tennis Star Naomi Osaka: BeInCrypto – Tom Brady has launched a new NFT Platform called ‘Autograph’, together with Japanese tennis star Naomi Osaka to facilitate digital ownership of sports memorabilia by sports fans, making use of the already growing NFT market, which is growing rapidly. Tom Brady’s Foray Into the burgeoning NFT space Tampa Bay Buccaneers NFL quarterback Tom Brady, and Japanese tennis star Naomi Osaka have launched their own non-fungible token platform, called “Autograph”. This sheds light on an NFT market that’s growing in tens of millions per day in trading volume. The tokens, called NFTs, are far behind Bitcoin and Ethereum, although not far behind all the other alt coins. What is an NFT? “Non-fungible” means a unique item, such as a vintage signed football card, that cannot be copied. NFTs are part of the Ethereum blockchain. NFTs can be physical items, like pieces of artwork, or they can be digital items , like a video montage of a sporting hero’s best moments. This story was seen first on BeInCrypto Join our Telegram Group and get trading signals, a free trading course and more stories like this on BeInCrypto || Tom Brady Launches New NFT Platform with Japanese Tennis Star Naomi Osaka: BeInCrypto –
Tom Brady has launched a new NFT Platform called ‘Autograph’, together with Japanese tennis star Naomi Osaka to facilitate digital ownership of sports memorabilia by sports fans, making use of the already growing NFT market, which is growing rapidly.
Tom Brady’s Foray Into the burgeoning NFT space
Tampa Bay Buccaneers NFL quarterback Tom Brady, and Japanese tennis star Naomi Osaka havelaunchedtheir own non-fungible token platform, called “Autograph”. This sheds light on an NFT market that’s growing in tens of millions per day in trading volume. The tokens, called NFTs, are far behind Bitcoin and Ethereum, although not far behind all the other alt coins.
What is an NFT?
“Non-fungible” means a unique item, such as a vintage signed football card, that cannot be copied. NFTs are part of the Ethereum blockchain. NFTs can be physical items, like pieces of artwork, or they can bedigital items, like a video montage of a sporting hero’s best moments.
This storywas seen first onBeInCryptoJoin our Telegram Groupand get trading signals, a free trading course and more stories likethisonBeInCrypto || Hot Penny Stocks to Buy This Month? 3 to Watch Now: 3 Penny Stocks For Your Watchlist in September After a rather volatile week of trading penny stocks, investors are looking forward to a new month in the market. And while a new month is not a complete paradigm shift, it does present a clean slate to see some potential bullish action. Right now, investors have to consider everything thats going on in the world in order to stay ahead of the curve. That includes Covid, inflation, geopolitical tensions, and the potential of reopening. With penny stocks , in particular, speculation tends to be extremely high. This means that any event no matter how big or small can have a major effect on how penny stocks trade. And in addition, the highly volatile nature of stocks under $5 only serves to add to this. [Read More] These 3 Penny Stocks Exploded on Friday, Heres Why The best way to avoid speculation and high volatility is with a trading strategy. This strategy should align with your investing goals, and the type of trader you are. With the list of penny stocks , there are two types that investors can break down. On one hand, we have penny stocks that could see potential in the long term. These are stocks that investors buy, hoping for gains in the several months to years-long time frame. On the other hand, we have more volatile penny stocks that investors tend to swing trade. This happens to be the strategy that the majority of traders utilize. But remember, investing is an individual act, and traders should always keep a firm understanding of their own goals. With that in mind, here are three hot penny stocks to watch right now. 3 Hot Penny Stocks to Watch in September 2021 Vinco Ventures Inc. ( NASDAQ: BBIG ) Chembio Diagnostics Inc. ( NASDAQ: CEMI ) Camber Energy Inc. ( NYSE: CEI ) Vinco Ventures Inc. (NASDAQ: BBIG) Vinco Ventures Inc. is a penny stock that managed to climb by over 80% on Friday, August 27th. This is a staggering gain and one that reflects recent news that the company announced. For those unfamiliar, Vinco is a penny stock we have mentioned in the past due to its frequent momentum in the market. If you have not yet heard of Vinco, lets get you up to speed. Vinco Ventures is a manufacturing and sales company that sells toys, electronics, and more to retailers and distributors. Story continues Just 4 days ago, the company reported its second-quarter financial results for 2021. In this announcement, its revenue and gross profit decreased year over year. The companys gross margin increased to 36.06% over 22.59% the previous year. This seems bad on the surface, but BBIG stock is performing extremely well amid the potential it may have in the long term. [Read More] Hot Penny Stocks To Watch As Bitcoin & Ethereum Surge On August 26th, BBIG stock closed down 5% in the market. On August 27th, BBIGs stock price skyrocket to more than 80% in gains as mentioned above. Just 5 days ago the companys stock price was at $2.45 per share. Now BBIG stock has reached over $5 per share making it technically no longer a penny stock. In addition, its volume skyrocketed to over 192 million compared to its market average of over 15 million. Keeping all of this in mind, will BBIG be on your list of penny stocks to watch? Penny_Stocks_to_Watch_Vinco_Ventures_Inc._(BBIG_Stock_Chart) Chembio Diagnostics Inc. (NASDAQ: CEMI) Chembio Diagnostics Inc. is a biotech penny stock that just went up by around 11% in the market. This company caught a lot of attention recently due to its developments for COVID-19. Chembio creates diagnostic tests that are used to detect COVID, but it also makes tests for illnesses like HIV and syphilis. In 2021, biotech penny stocks have gained a lot of attention as a result of the pandemic. And, it doesnt look like things are slowing down anytime soon. On August 27th, the company launched the commercial distribution of its third-party COVID-19 antigen assay. Its FDA Emergency Use Authorized rapid point of care COVID-19 antigen test will be available immediately for shipment to its customers in the United States. This is big news for the company and shows why there is so much bullish sentiment around CEMI stock right now. We are now offering U.S. customers SCoV-2 Ag Detect, a test for COVID-19 antigens in both symptomatic and asymptomatic populations, as well as Status COVID-19/Flu A&B, a product that differentiates flu from COVID-19 using a single nasal swab sample. Our expanded commercial team can now offer testing solutions for CLIA waived settings and work and school settings. VP of Sales and Marketing for Chembio, Charles Caso On the same day of this announcement, CEM stock increased substantially and showed uncharacteristically high volume. With this in mind, will CEMI stock be on your watchlist in 2021? Penny_Stocks_to_Watch_Chembio_Diagnostics_Inc_CEMI_Stock_Chart Camber Energy Inc. (NYSE: CEI) Camber Energy Inc. is an oil and gas penny stock that is performing well right now. The company primarily engages in the acquisition, development, and sales of various energy-related products. These products include natural gas, crude oil, and natural gas liquids. On August 24th, the company secured an exclusive IP license for a patented carbon-capture system from ESG Clean Energy LLC. The ESG clean energy system is designed to generate clean electricity from internal combustion engines. This provides the ability to utilize waste heat to capture 100% of the CO2 emitted from the engine with full efficiency. In my view this transaction positions us as an industry leader in terms of being able to assist with the power generation needs of commercial and industrial organizations while at the same time helping them reduce their carbon footprint to satisfy regulatory requirements or to simply follow best ESG-practices. CEO and President of Camber, James Doris CEI stock is up more than 9% on August 27th, just a few days after the announcement. Its volume is also nearly 3 times higher than its average at the moment. So will you add CEI to your list of energy penny stocks to watch? Penny_Stocks_to_Watch_Camber_Energy_Inc._(CEI_Stock_Chart) Are These Penny Stocks Worth Buying? In 2021, there are a lot of factors for penny stocks investors to consider. On one hand, we have the continued effects of the pandemic. This means that we may continue to see volatility in the near future. And on the other hand, we are seeing renewed bullish sentiment across the market. [Read More] 4 Short Squeeze Penny Stocks To Watch After SPRT Stocks 1,309% Run With so much going on, it can seem difficult to stay up to date with everything at once. But, with a proper trading strategy and a commitment to understanding whats going on in the market, making money with penny stocks can be completely doable. || Hot Penny Stocks to Buy This Month? 3 to Watch Now: After a rather volatile week of trading penny stocks, investors are looking forward to a new month in the market. And while a new month is not a complete paradigm shift, it does present a clean slate to see some potential bullish action. Right now, investors have to consider everything that’s going on in the world in order to stay ahead of the curve.
That includes Covid, inflation, geopolitical tensions, and the potential of reopening. Withpenny stocks, in particular, speculation tends to be extremely high. This means that any event no matter how big or small can have a major effect on how penny stocks trade. And in addition, the highly volatile nature of stocks under $5 only serves to add to this.
[Read More]These 3 Penny Stocks Exploded on Friday, Here’s Why
The best way to avoid speculation and high volatility is with a trading strategy. This strategy should align with your investing goals, and the type of trader you are. With thelist of penny stocks, there are two types that investors can break down. On one hand, we have penny stocks that could see potential in the long term. These are stocks that investors buy, hoping for gains in the several months to years-long time frame.
On the other hand, we have more volatile penny stocks that investors tend to swing trade. This happens to be the strategy that the majority of traders utilize. But remember, investing is an individual act, and traders should always keep a firm understanding of their own goals. With that in mind, here are three hot penny stocks to watch right now.
1. Vinco Ventures Inc. (NASDAQ: BBIG)
2. Chembio Diagnostics Inc. (NASDAQ: CEMI)
3. Camber Energy Inc. (NYSE: CEI)
Vinco Ventures Inc. is a penny stock that managed to climb by over 80% on Friday, August 27th. This is a staggering gain and one that reflects recent news that the company announced. For those unfamiliar, Vinco is a penny stock we have mentioned in the past due to its frequent momentum in the market. If you have not yet heard of Vinco, let’s get you up to speed. Vinco Ventures is a manufacturing and sales company that sells toys, electronics, and more to retailers and distributors.
Just 4 days ago, the company reported its second-quarter financial results for 2021. In this announcement, its revenue and gross profit decreased year over year. The company’s gross margin increased to 36.06% over 22.59% the previous year. This seems bad on the surface, but BBIG stock is performing extremely well amid the potential it may have in the long term.
[Read More]Hot Penny Stocks To Watch As Bitcoin & Ethereum Surge
On August 26th, BBIG stock closed down 5% in the market. On August 27th, BBIG’s stock price skyrocket to more than 80% in gains as mentioned above. Just 5 days ago the company’s stock price was at $2.45 per share. Now BBIG stock has reached over $5 per share making it technically no longer a penny stock. In addition, its volume skyrocketed to over 192 million compared to its market average of over 15 million. Keeping all of this in mind, will BBIG be on your list of penny stocks to watch?
Chembio Diagnostics Inc. is abiotech penny stockthat just went up by around 11% in the market. This company caught a lot of attention recently due to its developments for COVID-19. Chembio creates diagnostic tests that are used to detect COVID, but it also makes tests for illnesses like HIV and syphilis. In 2021, biotech penny stocks have gained a lot of attention as a result of the pandemic. And, it doesn’t look like things are slowing down anytime soon.
On August 27th, the company launched the commercial distribution of its third-party COVID-19 antigen assay. Its FDA Emergency Use Authorized rapid point of care COVID-19 antigen test will be available immediately for shipment to its customers in the United States. This is big news for the company and shows why there is so much bullish sentiment around CEMI stock right now.
“We are now offering U.S. customers SCoV-2 Ag Detect™, a test for COVID-19 antigens in both symptomatic and asymptomatic populations, as well as Status™ COVID-19/Flu A&B, a product that differentiates flu from COVID-19 using a single nasal swab sample. Our expanded commercial team can now offer testing solutions for CLIA waived settings and work and school settings.”
On the same day of this announcement, CEM stock increased substantially and showed uncharacteristically high volume. With this in mind, will CEMI stock be on your watchlist in 2021?
Camber Energy Inc. is an oil and gas penny stock that is performing well right now. The company primarily engages in the acquisition, development, and sales of various energy-related products. These products include natural gas, crude oil, and natural gas liquids.
On August 24th, the company secured an exclusive IP license for a patented carbon-capture system from ESG Clean Energy LLC. The ESG clean energy system is designed to generate clean electricity from internal combustion engines. This provides the ability to utilize waste heat to capture 100% of the CO2 emitted from the engine with full efficiency.
“In my view this transaction positions us as an industry leader in terms of being able to assist with the power generation needs of commercial and industrial organizations while at the same time helping them reduce their carbon footprint to satisfy regulatory requirements or to simply follow best ESG-practices.”
CEI stock is up more than 9% on August 27th, just a few days after the announcement. Its volume is also nearly 3 times higher than its average at the moment. So will you add CEI to your list ofenergy penny stocksto watch?
In 2021, there are a lot of factors for penny stocks investors to consider. On one hand, we have the continued effects of the pandemic. This means that we may continue to see volatility in the near future. And on the other hand, we are seeing renewed bullish sentiment across the market.
[Read More]4 Short Squeeze Penny Stocks To Watch After SPRT Stock’s 1,309% Run
With so much going on, it can seem difficult to stay up to date with everything at once. But, with a proper trading strategy and a commitment to understanding what’s going on in the market,making money with penny stockscan be completely doable. || Five potential bubbles that may be about to burst: Balloon with needles If you own your home, you may have noticed that the roof above your head has been growing more valuable at a startling rate. Almost every part of the property market – some London flats excepted – is booming. Prices in June were up more than 13pc on the year, the fastest pace since 2004 . It is not only homes which are getting more expensive. Stocks, bonds, commodities and more have all seen sharp price moves since Covid struck. Heady rises in assets certainly make investors feel good and raise hopes the economy is on the right track, often in a self-reinforcing cycle. But when everything is going up, twitchy markets can suddenly turn, alert for anything which could knock the rebound off course or burst what turns out to be a bubble. The Federal Reserve could bungle the end of quantitative easing , causing a 2013-style taper tantrum. Inflation’s surge could be sustained, forcing higher interest rates . Another Covid wave could shock markets out of their optimism. Here are five potential bubbles and the threats facing investors. House prices Prices hit records this summer. The UK average jumped to £266,000 – up £31,000 on the year, according to the Office for National Statistics. Britain’s boom is but one part of an extraordinarily hot global property market . US prices are up almost 15pc, the fastest pace in 30 years. Canada’s market is up almost 14pc. New Zealand’s property market is up almost 30pc. This is all evidence to analysts at the Resolution Foundation that low interest rates, lockdown savings and shifting demand have been more important factors than Britain’s stamp duty holiday in pushing up prices. The end of the tax break is unlikely to burst the bubble – but a rise in interest rates could. Andrew Wishart at Capital Economics expects prices to rise another 7.5pc by the end of 2023 aided by lower mortgage rates. But he acknowledges the risk of Bank of England rate hikes. “If the Monetary Policy Committee undertakes a significant tightening cycle, perhaps raising Bank Rate to 1.50pc, house prices could drop by 4pc,” he says. Story continues Bonds Families are not the only borrowers who have become extremely used to ultra-low rates. Governments and businesses have also borrowed hard since the pandemic began with minimal repayments allowing them to spend without too many worries. Low bond interest rates – yields – equal high bond prices, raising concern over the potential for a bust. Britain’s Government ran its biggest deficit on record in 2020-21, borrowing £298bn. Yet the cost of servicing the debt slumped to a record low of just 2pc of Treasury revenues, down from as much as 4pc in 2019-20 and 7pc in 2011-12. But that has already crept up to 2.9pc as rising inflation pushes up debt servicing costs . Meanwhile businesses worldwide have borrowed heavily. Non-financial businesses’ debts in advanced economies boomed from 165pc of GDP in the final months of 2019 to 185pc by the end of 2020, according to the Bank for International Settlements. In emerging markets it jumped from 147pc to 173pc of GDP. It leaves borrowers vulnerable to a jump in rates. Barry Naisbitt, economist at the National Institute of Economic and Social Research, says the extent of the risk depends on how suddenly any rise in rates arrives. “The average duration of UK government debt is long compared to other countries, so it would not immediately face having to roll over debts [at a higher rate],” he says. “But some countries and companies do need to roll over debts soon and could be caught out by a very sudden change.” Stocks America’s S&P 500 rapidly rebounded from the Covid slump and routinely reaches new highs. Optimism on growth is one thing. Assuming Fed tapering will be smooth and inflation will not become a problem is another. Mark Haefele, chief investment officer at UBS Wealth Management, expects a “smooth landing” as the Fed eases off the accelerator, but is wary of the hazards ahead. “Every inflation report above 2pc will lead to a chorus of calls for the Fed and other central banks to rein in stimulus, so that inflation doesn’t spiral out of control,” he says. “At the same time, the Fed knows that overzealous attempts to tame inflation risk putting the economy and markets on course for a hard landing.” He expects the S&P 500 to rise from almost 4,500 now to 4,800 by June 2022. But with “bad inflation”, a growth crunch or a new Covid scare – the market could tumble to 3,800, erasing almost all of 2021’s gain Commodities The real economy is as big a risk as monetary policy, particularly when it comes to commodity prices. Copper offers a salutary lesson to any investors who think everything has to keep rising this year. The red metal doubled in price between its spring 2020 trough and May 2021, far above pre-pandemic levels as China’s economy boomed and the net zero agenda set demand forecasts soaring. But it stumbled several times as Chinese authorities took action to cool prices, then fears of a new wave of Covid hit demand. At their low ebb this month prices were down 15pc from their peak – high by historical standards, but a sign of how fast a booming market can change. Bitcoin If real world assets are not enough, Bitcoin appears to be on another tear, rising close to $50,000 in recent days from a July low of below $30,000. In April it was more than $60,000. Andrew Bailey, Governor of the Bank of England, has been clear about his expectations for the fashionable digital creation. “A cryptoasset is not money (hence the term cryptocurrency is misleading) and has no intrinsic value because it has no backing,” he said earlier this summer. Its ultimate value is “highly unstable and could be nothing.” At least houses can still be lived in when a bubble pops. || Five potential bubbles that may be about to burst: If you own your home, you may have noticed that the roof above your head has been growing more valuable at a startling rate.
Almost every part of the property market – some London flats excepted – is booming. Prices in June were up more than 13pc on the year,the fastest pace since 2004.
It is not only homes which are getting more expensive. Stocks, bonds, commodities and more have all seen sharp price moves since Covid struck.
Heady rises in assets certainly make investors feel good and raise hopes the economy is on the right track, often in a self-reinforcing cycle.
But when everything is going up, twitchy markets can suddenly turn, alert for anything which could knock the rebound off course or burst what turns out to be a bubble.
The Federal Reserve couldbungle the end of quantitative easing, causing a 2013-style taper tantrum. Inflation’s surge could be sustained,forcing higher interest rates. Another Covid wave could shock markets out of their optimism.
Here are five potential bubbles and the threats facing investors.
Prices hit records this summer. The UK average jumped to £266,000 – up £31,000 on the year, according to the Office for National Statistics.
Britain’s boom is but one part of an extraordinarily hotglobal property market. US prices are up almost 15pc, the fastest pace in 30 years. Canada’s market is up almost 14pc. New Zealand’s property market is up almost 30pc.
This is all evidence to analysts at the Resolution Foundation that low interest rates, lockdown savings and shifting demand have been more important factors than Britain’s stamp duty holiday in pushing up prices.
The end of the tax break is unlikely to burst the bubble – but a rise in interest rates could.
Andrew Wishart at Capital Economics expects prices to rise another 7.5pc by the end of 2023 aided by lower mortgage rates. But he acknowledges the risk of Bank of England rate hikes.
“If the Monetary Policy Committee undertakes a significant tightening cycle, perhaps raising Bank Rate to 1.50pc, house prices could drop by 4pc,” he says.
Families are not the only borrowers who have become extremely used to ultra-low rates.
Governments and businesses have also borrowed hard since the pandemic began with minimal repayments allowing them to spend without too many worries.
Low bond interest rates – yields – equal high bond prices, raising concern over the potential for a bust.
Britain’s Government ran its biggest deficit on record in 2020-21, borrowing £298bn. Yet the cost of servicing the debt slumped to a record low of just 2pc of Treasury revenues, down from as much as 4pc in 2019-20 and 7pc in 2011-12.
But that has already crept up to 2.9pc asrising inflation pushes up debt servicing costs.
Meanwhile businesses worldwide have borrowed heavily. Non-financial businesses’ debts in advanced economies boomed from 165pc of GDP in the final months of 2019 to 185pc by the end of 2020, according to the Bank for International Settlements. In emerging markets it jumped from 147pc to 173pc of GDP. It leaves borrowers vulnerable to a jump in rates.
Barry Naisbitt, economist at the National Institute of Economic and Social Research, says the extent of the risk depends on how suddenly any rise in rates arrives.
“The average duration of UK government debt is long compared to other countries, so it would not immediately face having to roll over debts [at a higher rate],” he says. “But some countries and companies do need to roll over debts soon and could be caught out by a very sudden change.”
America’s S&P 500 rapidly rebounded from the Covid slump and routinely reaches new highs.
Optimism on growth is one thing. AssumingFed tapering will be smoothand inflation will not become a problem is another.
Mark Haefele, chief investment officer at UBS Wealth Management, expects a “smooth landing” as the Fed eases off the accelerator, but is wary of the hazards ahead.
“Every inflation report above 2pc will lead to a chorus of calls for the Fed and other central banks to rein in stimulus, so that inflation doesn’t spiral out of control,” he says.
“At the same time, the Fed knows that overzealous attempts to tame inflation risk putting the economy and markets on course for a hard landing.”
He expects the S&P 500 to rise from almost 4,500 now to 4,800 by June 2022. But with “bad inflation”, a growth crunch or a new Covid scare – the market could tumble to 3,800, erasing almost all of 2021’s gain
The real economy is as big a risk as monetary policy, particularly when it comes to commodity prices.
Copper offers a salutary lesson to any investors who think everything has to keep rising this year.
The red metal doubled in price between its spring 2020 trough and May 2021, far above pre-pandemic levels as China’s economy boomed and the net zero agenda set demand forecasts soaring. But it stumbled several times as Chinese authorities took action to cool prices, then fears of a new wave of Covid hit demand.
At their low ebb this monthprices were down 15pc from their peak– high by historical standards, but a sign of how fast a booming market can change.
If real world assets are not enough,Bitcoinappears to be on another tear, rising close to $50,000 in recent days from a July low of below $30,000. In April it was more than $60,000.
Andrew Bailey, Governor of the Bank of England, has been clear about his expectations for the fashionable digital creation. “A cryptoasset is not money (hence the term cryptocurrency is misleading) and has no intrinsic value because it has no backing,” he said earlier this summer.
Its ultimate value is “highly unstable and could be nothing.”
At least houses can still be lived in when a bubble pops. || The Crypto Daily – Movers and Shakers – August 29th, 2021: Bitcoin , BTC to USD, slipped by 0.34% on Saturday. Following a 4.79% rally on Friday, Bitcoin ended the day at $48,914.0. A choppy start to the day saw Bitcoin rise to an early morning intraday high $49,310.0 before hitting reverse. Falling short of the first major resistance level at $50,038, Bitcoin slid to an early afternoon intraday low $48,385.9. Steering well clear of the first major support level at $47,242, Bitcoin revisited $49,200 levels before falling back into the red. The near-term bullish trend remained intact, supported by the latest return to $50,000 levels. For the bears, Bitcoin would need a sustained fall through the 62% FIB of $27,237 to form a near-term bearish trend. The Rest of the Pack Across the rest of the majors, it was a mixed day on Saturday. Bitcoin Cash SV (+0.39%) and Crypto.com Coin (+1.33%) bucked the trend on the day. It was a bearish day for the rest of the majors, however. Ripple’s XRP and Cardano’s ADA fell by 3.88% and by 3.30% respectively to lead the way down. Binance Coin (-1.67%), Chainlink (-1.23%), Ethereum (-0.83%), Litecoin (-0.35%), and Polkadot (-1.89%) also struggled. In the current week, the crypto total market rose to a Monday high $2,169bn before falling to a Thursday low $1,933bn. At the time of writing, the total market cap stood at $2,092bn. Bitcoin’s dominance rose to a Thursday high 44.98% before falling to a Saturday low 43.55%. At the time of writing, Bitcoin’s dominance stood at 43.92%. This Morning At the time of writing, Bitcoin was down by 0.06% to $48,887.0. A mixed start to the day saw Bitcoin rise to an early morning high $48,958.0 before falling to a low $48,879.0. Bitcoin left the major support and resistance levels untested early on. Elsewhere, it was a mixed start to the day. Binance Coin (-0.06%) and Litecoin (-0.16%) joined Bitcoin in the red early on. It was a bullish start for the rest of the majors, however. At the time of writing, Bitcoin Cash SV was up by 2.93% to lead the way. Story continues For the Bitcoin Day Ahead Bitcoin would need to avoid the $48,870 pivot to bring the first major resistance level at $49,354 into play. Support from the broader market would be needed for Bitcoin to break back through to $49,300 levels. Barring a broad-based crypto rally, the first major resistance level and Saturday’s high $49,311 would likely cap any upside. In the event of an extended crypto rally, Bitcoin could test resistance at $50,000 before any pullback. The second major resistance level sits at $49,794. A fall through the $48,870 pivot would bring the first major support level at $48,430 into play. Barring another extended sell-off on the day, Bitcoin should steer clear of sub-$47,500 levels. The second major support level at $47,946 should limit the downside. This article was originally posted on FX Empire More From FXEMPIRE: S&P 500 Price Forecast – Stock Markets Continue to Power Higher After Jerome Powell Speech S&P 500 Weekly Price Forecast – Stock Markets Continue to Reach Ever Higher E-mini Dow Jones Industrial Average (YM) Futures Technical Analysis – Buyers Targeting 35445 for Next Breakout Natural Gas Price Prediction – Prices Rise 13.6% for the Week as Hurricane Ida Arrives USD/JPY Fundamental Daily Forecast – Lower after Powell Stops Short of Signaling Timing for Any Policy Shift Silver Price Prediction – Prices Rise on Dovish Fed || The Crypto Daily – Movers and Shakers – August 29th, 2021: Bitcoin , BTC to USD, slipped by 0.34% on Saturday. Following a 4.79% rally on Friday, Bitcoin ended the day at $48,914.0. A choppy start to the day saw Bitcoin rise to an early morning intraday high $49,310.0 before hitting reverse. Falling short of the first major resistance level at $50,038, Bitcoin slid to an early afternoon intraday low $48,385.9. Steering well clear of the first major support level at $47,242, Bitcoin revisited $49,200 levels before falling back into the red. The near-term bullish trend remained intact, supported by the latest return to $50,000 levels. For the bears, Bitcoin would need a sustained fall through the 62% FIB of $27,237 to form a near-term bearish trend. The Rest of the Pack Across the rest of the majors, it was a mixed day on Saturday. Bitcoin Cash SV (+0.39%) and Crypto.com Coin (+1.33%) bucked the trend on the day. It was a bearish day for the rest of the majors, however. Ripple’s XRP and Cardano’s ADA fell by 3.88% and by 3.30% respectively to lead the way down. Binance Coin (-1.67%), Chainlink (-1.23%), Ethereum (-0.83%), Litecoin (-0.35%), and Polkadot (-1.89%) also struggled. In the current week, the crypto total market rose to a Monday high $2,169bn before falling to a Thursday low $1,933bn. At the time of writing, the total market cap stood at $2,092bn. Bitcoin’s dominance rose to a Thursday high 44.98% before falling to a Saturday low 43.55%. At the time of writing, Bitcoin’s dominance stood at 43.92%. This Morning At the time of writing, Bitcoin was down by 0.06% to $48,887.0. A mixed start to the day saw Bitcoin rise to an early morning high $48,958.0 before falling to a low $48,879.0. Bitcoin left the major support and resistance levels untested early on. Elsewhere, it was a mixed start to the day. Binance Coin (-0.06%) and Litecoin (-0.16%) joined Bitcoin in the red early on. It was a bullish start for the rest of the majors, however. At the time of writing, Bitcoin Cash SV was up by 2.93% to lead the way. Story continues For the Bitcoin Day Ahead Bitcoin would need to avoid the $48,870 pivot to bring the first major resistance level at $49,354 into play. Support from the broader market would be needed for Bitcoin to break back through to $49,300 levels. Barring a broad-based crypto rally, the first major resistance level and Saturday’s high $49,311 would likely cap any upside. In the event of an extended crypto rally, Bitcoin could test resistance at $50,000 before any pullback. The second major resistance level sits at $49,794. A fall through the $48,870 pivot would bring the first major support level at $48,430 into play. Barring another extended sell-off on the day, Bitcoin should steer clear of sub-$47,500 levels. The second major support level at $47,946 should limit the downside. This article was originally posted on FX Empire More From FXEMPIRE: S&P 500 Price Forecast – Stock Markets Continue to Power Higher After Jerome Powell Speech S&P 500 Weekly Price Forecast – Stock Markets Continue to Reach Ever Higher E-mini Dow Jones Industrial Average (YM) Futures Technical Analysis – Buyers Targeting 35445 for Next Breakout Natural Gas Price Prediction – Prices Rise 13.6% for the Week as Hurricane Ida Arrives USD/JPY Fundamental Daily Forecast – Lower after Powell Stops Short of Signaling Timing for Any Policy Shift Silver Price Prediction – Prices Rise on Dovish Fed || The Crypto Daily – Movers and Shakers – August 29th, 2021: Bitcoin, BTC to USD, slipped by 0.34% on Saturday. Following a 4.79% rally on Friday, Bitcoin ended the day at $48,914.0.
A choppy start to the day saw Bitcoin rise to an early morning intraday high $49,310.0 before hitting reverse.
Falling short of the first major resistance level at $50,038, Bitcoin slid to an early afternoon intraday low $48,385.9.
Steering well clear of the first major support level at $47,242, Bitcoin revisited $49,200 levels before falling back into the red.
The near-term bullish trend remained intact, supported by the latest return to $50,000 levels. For the bears, Bitcoin would need a sustained fall through the 62% FIB of $27,237 to form a near-term bearish trend.
Across the rest of the majors, it was a mixed day on Saturday.
Bitcoin Cash SV(+0.39%) andCrypto.com Coin(+1.33%) bucked the trend on the day.
It was a bearish day for the rest of the majors, however.
Ripple’s XRPandCardano’s ADAfell by 3.88% and by 3.30% respectively to lead the way down.
Binance Coin(-1.67%),Chainlink(-1.23%),Ethereum(-0.83%),Litecoin(-0.35%), and Polkadot (-1.89%) also struggled.
In the current week, the crypto total market rose to a Monday high $2,169bn before falling to a Thursday low $1,933bn. At the time of writing, the total market cap stood at $2,092bn.
Bitcoin’s dominance rose to a Thursday high 44.98% before falling to a Saturday low 43.55%. At the time of writing, Bitcoin’s dominance stood at 43.92%.
At the time of writing, Bitcoin was down by 0.06% to $48,887.0. A mixed start to the day saw Bitcoin rise to an early morning high $48,958.0 before falling to a low $48,879.0.
Bitcoin left the major support and resistance levels untested early on.
Elsewhere, it was a mixed start to the day.
Binance Coin (-0.06%) and Litecoin (-0.16%) joined Bitcoin in the red early on.
It was a bullish start for the rest of the majors, however.
At the time of writing, Bitcoin Cash SV was up by 2.93% to lead the way.
Bitcoin would need to avoid the $48,870 pivot to bring the first major resistance level at $49,354 into play.
Support from the broader market would be needed for Bitcoin to break back through to $49,300 levels.
Barring a broad-based crypto rally, the first major resistance level and Saturday’s high $49,311 would likely cap any upside.
In the event of an extended crypto rally, Bitcoin could test resistance at $50,000 before any pullback. The second major resistance level sits at $49,794.
A fall through the $48,870 pivot would bring the first major support level at $48,430 into play.
Barring another extended sell-off on the day, Bitcoin should steer clear of sub-$47,500 levels. The second major support level at $47,946 should limit the downside.
Thisarticlewas originally posted on FX Empire
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• Silver Price Prediction – Prices Rise on Dovish Fed || What Happens to Social Security When You Die?: Zinkevych / Getty Images/iStockphoto The end of a persons life doesnt necessarily mean the end of their social security payments. Depending on factors like income and dependents, social security checks will still be issued to someone else even after the original recipient passes away. See: The Biggest Problems Facing Social Security Find: Can You Afford To Die in Your State? According to the Social Security Administration website, if you work and pay into Social Security, part of those taxes go toward survivor benefits, which means your surviving spouse, children and even parents could be eligible for payments based on your earnings. Likewise, you and your family could be eligible for benefits based on the earnings of someone else who died as long as the deceased worked long enough to qualify for benefits. If you have no survivors or dependents, the payments simply cease. Whenever someone dies, the Social Security office should be notified immediately. This is usually handled by the funeral home, which sends in a form called Statement of Death by Funeral Director. If that doesnt happen, youll have to call the SSA you cannot report a death or apply for survivor benefits online. If you need to report a death or apply for survivor benefits, call 1-800-772-1213 (TTY 1-800-325-0778) between 8 a.m. and 7 p.m. Monday through Friday. Youll need to provide the deceased persons social security number when applying. In the event of your death, your survivor will need to provide your social security number. The executor of the estate can also call Social Security, CNBC reported. Here are some things to remember for those getting benefits on a spouses or parents record, according to the SSA: Social Security will automatically change any monthly benefits received to survivors benefits after it receives the report of death. The agency might be able to pay a Special Lump-Sum Death Payment automatically. One thing to keep in mind is that no social security benefits are due for the month of a persons death. Story continues Any benefit thats paid after the month of the persons death needs to be refunded, Peggy Sherman, a certified financial planner and lead advisor at Briaud Financial Advisors in College Station, Texas, told CNBC. See: What Happens to Your Bitcoin When You Die? Find: Key Points COVID-19 Long-Haulers Need to Know About Applying for Social Security Meanwhile, if your spouse or qualifying dependent were already getting money based on your record, that benefit will auto-convert to survivors benefits when the government gets notice of your death. If the surviving spouse has already reached their own full retirement age, they can get their deceased spouses full benefit. You can apply for reduced benefits as early as age 60 or age 50 if disabled which is a couple of years earlier than the standard earliest claiming age of 62 . More From GOBankingRates Take Our Poll: Are You Actually Spending Your Child Tax Credit Payment? 5 Things Most Americans Dont Know About Social Security Heres How Much You Need To Earn To Be Rich in Every State 5 Cities Around the World Experiencing a Housing Market Boom This article originally appeared on GOBankingRates.com : What Happens to Social Security When You Die? || What Happens to Social Security When You Die?: The end of a person’s life doesn’t necessarily mean the end of their social security payments. Depending on factors like income and dependents,social security checks will still be issuedto someone else even after the original recipient passes away.
See:The Biggest Problems Facing Social SecurityFind:Can You Afford To Die in Your State?
According to the Social Security Administration website, if you work and pay into Social Security, part of those taxes go toward survivor benefits, which means your surviving spouse, children and even parents could be eligible for payments based on your earnings.
Likewise, you and your family could be eligible for benefits based on the earnings of someone else who died — as long as the deceased worked long enough to qualify for benefits.
If you have no survivors or dependents, the payments simply cease.
Whenever someone dies, the Social Security office should be notified immediately. This is usually handled by the funeral home, which sends in a form called Statement of Death by Funeral Director.
If that doesn’t happen, you’ll have to call the SSA — you cannot report a death or apply for survivor benefits online. If you need to report a death or apply for survivor benefits, call 1-800-772-1213 (TTY 1-800-325-0778) between 8 a.m. and 7 p.m. Monday through Friday.
You’ll need to provide the deceased person’s social security number when applying. In the event of your death, your survivor will need to provide your social security number. The executor of the estate can also call Social Security, CNBC reported.
Here are some things to remember for those getting benefits on a spouse’s or parent’s record, according to the SSA:
• Social Security will automatically change any monthly benefits received to survivors’ benefits after it receives the report of death.
• The agency might be able to pay a Special Lump-Sum Death Payment automatically.
• One thing to keep in mind is that no social security benefits are due for the month of a person’s death.
“Any benefit that’s paid after the month of the person’s death needs to be refunded,” Peggy Sherman, a certified financial planner and lead advisor at Briaud Financial Advisors in College Station, Texas, told CNBC.
See:What Happens to Your Bitcoin When You Die?Find:Key Points COVID-19 Long-Haulers Need to Know About Applying for Social Security
Meanwhile, if your spouse or qualifying dependent were already getting money based on your record, that benefit will auto-convert to survivors benefits when the government gets notice of your death.
If the surviving spouse has already reached their own full retirement age, they can get their deceased spouse’s full benefit. You can apply for reduced benefits as early as age 60 — or age 50 if disabled —which is a couple of years earlier than the standard earliest claiming age of 62.
More From GOBankingRates
• Take Our Poll: Are You Actually Spending Your Child Tax Credit Payment?
• 5 Things Most Americans Don’t Know About Social Security
• Here’s How Much You Need To Earn To Be ‘Rich’ in Every State
• 5 Cities Around the World Experiencing a Housing Market Boom
This article originally appeared onGOBankingRates.com:What Happens to Social Security When You Die? || Clearer Picture Revealed for Dorsey’s Decentralized BTC Exchange: BeInCrypto –
Twitter founder Jack Dorsey has confirmed that the direction for his bitcoin (BTC) business, TBD, has been determined.
The CEO called out to his followerson Twitteron August 27, asking for help in building “an open platform to create a decentralized exchange for #Bitcoin…”
This tweet came in response to a lengthy thread that Mike Brock issued around the same time. Brock, who leads Strategic Development for Square’s Cash App, is also a leading figure with TBD. He took to Twitter to reveal developments with the project.
This storywas seen first onBeInCryptoJoin our Telegram Groupand get trading signals, a free trading course and more stories likethisonBeInCrypto || Clearer Picture Revealed for Dorsey’s Decentralized BTC Exchange: BeInCrypto – Twitter founder Jack Dorsey has confirmed that the direction for his bitcoin (BTC) business, TBD, has been determined. The CEO called out to his followers on Twitter on August 27, asking for help in building “an open platform to create a decentralized exchange for #Bitcoin…” This tweet came in response to a lengthy thread that Mike Brock issued around the same time. Brock, who leads Strategic Development for Square’s Cash App, is also a leading figure with TBD. He took to Twitter to reveal developments with the project. This story was seen first on BeInCrypto Join our Telegram Group and get trading signals, a free trading course and more stories like this on BeInCrypto || Clearer Picture Revealed for Dorsey’s Decentralized BTC Exchange: BeInCrypto –
Twitter founder Jack Dorsey has confirmed that the direction for his bitcoin (BTC) business, TBD, has been determined.
The CEO called out to his followerson Twitteron August 27, asking for help in building “an open platform to create a decentralized exchange for #Bitcoin…”
This tweet came in response to a lengthy thread that Mike Brock issued around the same time. Brock, who leads Strategic Development for Square’s Cash App, is also a leading figure with TBD. He took to Twitter to reveal developments with the project.
This storywas seen first onBeInCryptoJoin our Telegram Groupand get trading signals, a free trading course and more stories likethisonBeInCrypto || Shiba Inu Crisis: Breeders worried by Dogecoin abuse surge: As Elon Musk, Doge memes, Shib coin and Dogecoin (DOGE) drive popularity of the Shiba Inu, experts warn of a silent shiba inu abuse crisis The whimsical Shiba Inu has thoroughly charmed internet users world-wide, with Dogecoin sat comfortably as the worlds seventh largest cryptocurrency and the infamous Doge NFT selling for an astonishing $4m both a testament to the breeds popularity. But there is a darker side to this story, as an internet meme quickly materialised into a digital asset carrying a whopping $35bn market cap. While the doge fad has become a source of fun and love for many, the internet spotlight has driven a hidden crisis of poor ownership for the shiba inu. South African entrepreneur and influencer Elon Musk has even got in on the action helping to increase the Shibas profile as part of his ongoing affiliation with the Dogecoin project. My Shiba Inu will be named Floki Elon Musk (@elonmusk) June 25, 2021 Demand for shibas skyrockets Many people claim to love the Shiba Inu, but few truly embody the devotion to this breed as much as Jeri Burnside. Jeri has worked with the Shiba for almost 35 years, the impressive woman is a prominent member on the Board of Directors of the National Shiba Club of America , and co-founded both the Shiba Club of Southern California and the Shiba Rescue of Southern California . Shes also the loving owner of two American Kennel Club Champion Shiba Inus. Following the explosion of interest in the breed following its success, first as an internet meme and now as the worlds 7th largest cryptocurrency, Jeri has witnessed a surge of enquiries about the intelligent fox-like Shiba. All my breeder friends are being inundated with puppy requests and have waiting lists miles long. She said. Ethical breeders who raise Shibas to preserve and improve the breed (and this is true for ethical preservation breeders of any breed) are NEVER happy to see a breed skyrocket in popularity like this. Story continues Negative consequences of a breed becoming a fad are many, and all of which result from indiscriminate volume breeding by backyard breeders and puppy mills. Amongst the consequences Jeri described are no screening of new dog buyers to ensure puppies are going to good homes, a lack of health screening for litters bred in backyard puppy farms, and next to no temperament screening as unethical breeders race to meet surging demand. This is made worse, Jeri argued, by the breeds primal characteristics developed for Japanese game hunting using wolf genetics. Most Shibas will NEVER be 100% trustworthy off-leash; they will likely NOT ever be safe to take to the dog park where they must play nicely with other dogs; they will likely KILL your small pocket pets, she explained. They are NOT a breed for everyone, and when you take on a Shiba you are making a lifetime commitment (and that equates to about 14-16 years for most Shibas). These are not the cuddly little stuffed animals they appear to be; they are an intelligent, cunning, self-reliant predator in a small, cute package. The breed also suffers a myriad of health issues if bred poorly, most notably eye-sight issues with the Shiba liable to develop glaucoma leading to blindness, some ethical breeders have established a research fund aimed at curing this persistent health issue. Shiba Inus in crisis The massive desire for shiba inus by charmed but inexperienced owners unaware of the breeds temperamental characteristics has led to an absolute crisis in mistreatment, abuse, and abandonment and Jeri highlights it has fallen to volunteers to help rehome these poor shibas. Shiba Rescue organisations are being overwhelmed with poorly bred, unsocialised, untrained Shibas that are given up by their owners who were never prepared to deal with the demands of Shiba ownership, she revealed. Rescue volunteers are just that volunteers they are not paid for the essential work they do and when a breed goes fad, the rescues resources are quickly exhausted. Sadly, those most responsible for the burden on the rescues (the puppy-millers) are the ones who NEVER EVER donate to that cause. In her work running the Shiba Rescue of Southern California , Jeri has come across many dogs abandoned for bad temperament that she explained were simply shibas being shibas, with the breed inhabiting a rough-and-tumble inquisitive natural state-of-being. I took in many Shibas who were simply being Shibas, and through no fault of their own, were given up by owners who were unprepared or unwilling to learn about how to work with a Shiba, she explained. Nine times out of ten, a Shiba surrendered for temperament issues was perfectly normal! It was the temperament of the owner that was unsuitable for the dog, not the other way round. Now, with the meme causing the popularity of the breed to expand exponentially, this problem is simply getting worse. Shiba Inu: not just for Christmas With Shiba Inus facing a widespread crisis on the tailend of the internets love affair with the doge meme, many are looking at the famously philanthropic DOGE community for a solution whilst Jeri and Shiba Rescue of Southern California dont currently accept Dogecoin donations (they do accept USD!) others in the industry have begun adopting so-called dogenations. PAWS Chicago , a leading no-kill policy animal shelter and one of the largest in the United States, have adopted a new system for dogenations enabling supporters to make donations to the charity using Dogecoin (DOGE). The 25-year old project has played a big role in bringing no-kill policies to American animal shelters, taking credibility for the 91% decrease in kill policy shelters. The move is aimed at partnering with the famously charitable DOGE community, CEO Susanna Homan also attested that the growing popularity of cryptocurrencies drove the decision. We are a solutions-based, forward-thinking organisation, which is why we are eager to connect with the growing cryptocurrency community, which can help sustain the future of animal welfare in Chicago and save animals lives. She said. DOGE price action The past week has seen some exciting price action for Doge coin which now rests with strong support at a comfortable $0.27 at the time of writing a 42% increase this month. Over the course of the past week the cryptocurrency ranged upwards to resistance at $0.33 and now seemingly awaits upwards price pressure with support holding within reasonable volatility range. August has seen impressive growth from a low of $0.19 to a high of $0.34 this month, representing a 78% explosion as investors flock to stack the shiba inu-inspired coin. This comes following bullish news from the RobinHood Q2 report which revealed Doge coin comprised 62% of the crypto retail revenues. Investor support remains strong, and the latest adoption move could well see DOGE push back up towards its all time high of $0.72 in May. The coin remains up 6,650% this year outperforming almost all other investments available. More crypto news and information If you want to find out more information about Bitcoin or cryptocurrencies in general, then use the search box at the top of this page. Heres an article to get you started. As with any investment, it pays to do some homework before you part with your money. The prices of cryptocurrencies are volatile and go up and down quickly. This page is not recommending a particular currency or whether you should invest or not. || Shiba Inu Crisis: Breeders worried by Dogecoin abuse surge: As Elon Musk, Doge memes, Shib coin and Dogecoin (DOGE) drive popularity of the Shiba Inu, experts warn of a silent shiba inu abuse crisis The whimsical Shiba Inu has thoroughly charmed internet users world-wide, with Dogecoin sat comfortably as the worlds seventh largest cryptocurrency and the infamous Doge NFT selling for an astonishing $4m both a testament to the breeds popularity. But there is a darker side to this story, as an internet meme quickly materialised into a digital asset carrying a whopping $35bn market cap. While the doge fad has become a source of fun and love for many, the internet spotlight has driven a hidden crisis of poor ownership for the shiba inu. South African entrepreneur and influencer Elon Musk has even got in on the action helping to increase the Shibas profile as part of his ongoing affiliation with the Dogecoin project. My Shiba Inu will be named Floki Elon Musk (@elonmusk) June 25, 2021 Demand for shibas skyrockets Many people claim to love the Shiba Inu, but few truly embody the devotion to this breed as much as Jeri Burnside. Jeri has worked with the Shiba for almost 35 years, the impressive woman is a prominent member on the Board of Directors of the National Shiba Club of America , and co-founded both the Shiba Club of Southern California and the Shiba Rescue of Southern California . Shes also the loving owner of two American Kennel Club Champion Shiba Inus. Following the explosion of interest in the breed following its success, first as an internet meme and now as the worlds 7th largest cryptocurrency, Jeri has witnessed a surge of enquiries about the intelligent fox-like Shiba. All my breeder friends are being inundated with puppy requests and have waiting lists miles long. She said. Ethical breeders who raise Shibas to preserve and improve the breed (and this is true for ethical preservation breeders of any breed) are NEVER happy to see a breed skyrocket in popularity like this. Story continues Negative consequences of a breed becoming a fad are many, and all of which result from indiscriminate volume breeding by backyard breeders and puppy mills. Amongst the consequences Jeri described are no screening of new dog buyers to ensure puppies are going to good homes, a lack of health screening for litters bred in backyard puppy farms, and next to no temperament screening as unethical breeders race to meet surging demand. This is made worse, Jeri argued, by the breeds primal characteristics developed for Japanese game hunting using wolf genetics. Most Shibas will NEVER be 100% trustworthy off-leash; they will likely NOT ever be safe to take to the dog park where they must play nicely with other dogs; they will likely KILL your small pocket pets, she explained. They are NOT a breed for everyone, and when you take on a Shiba you are making a lifetime commitment (and that equates to about 14-16 years for most Shibas). These are not the cuddly little stuffed animals they appear to be; they are an intelligent, cunning, self-reliant predator in a small, cute package. The breed also suffers a myriad of health issues if bred poorly, most notably eye-sight issues with the Shiba liable to develop glaucoma leading to blindness, some ethical breeders have established a research fund aimed at curing this persistent health issue. Shiba Inus in crisis The massive desire for shiba inus by charmed but inexperienced owners unaware of the breeds temperamental characteristics has led to an absolute crisis in mistreatment, abuse, and abandonment and Jeri highlights it has fallen to volunteers to help rehome these poor shibas. Shiba Rescue organisations are being overwhelmed with poorly bred, unsocialised, untrained Shibas that are given up by their owners who were never prepared to deal with the demands of Shiba ownership, she revealed. Rescue volunteers are just that volunteers they are not paid for the essential work they do and when a breed goes fad, the rescues resources are quickly exhausted. Sadly, those most responsible for the burden on the rescues (the puppy-millers) are the ones who NEVER EVER donate to that cause. In her work running the Shiba Rescue of Southern California , Jeri has come across many dogs abandoned for bad temperament that she explained were simply shibas being shibas, with the breed inhabiting a rough-and-tumble inquisitive natural state-of-being. I took in many Shibas who were simply being Shibas, and through no fault of their own, were given up by owners who were unprepared or unwilling to learn about how to work with a Shiba, she explained. Nine times out of ten, a Shiba surrendered for temperament issues was perfectly normal! It was the temperament of the owner that was unsuitable for the dog, not the other way round. Now, with the meme causing the popularity of the breed to expand exponentially, this problem is simply getting worse. Shiba Inu: not just for Christmas With Shiba Inus facing a widespread crisis on the tailend of the internets love affair with the doge meme, many are looking at the famously philanthropic DOGE community for a solution whilst Jeri and Shiba Rescue of Southern California dont currently accept Dogecoin donations (they do accept USD!) others in the industry have begun adopting so-called dogenations. PAWS Chicago , a leading no-kill policy animal shelter and one of the largest in the United States, have adopted a new system for dogenations enabling supporters to make donations to the charity using Dogecoin (DOGE). The 25-year old project has played a big role in bringing no-kill policies to American animal shelters, taking credibility for the 91% decrease in kill policy shelters. The move is aimed at partnering with the famously charitable DOGE community, CEO Susanna Homan also attested that the growing popularity of cryptocurrencies drove the decision. We are a solutions-based, forward-thinking organisation, which is why we are eager to connect with the growing cryptocurrency community, which can help sustain the future of animal welfare in Chicago and save animals lives. She said. DOGE price action The past week has seen some exciting price action for Doge coin which now rests with strong support at a comfortable $0.27 at the time of writing a 42% increase this month. Over the course of the past week the cryptocurrency ranged upwards to resistance at $0.33 and now seemingly awaits upwards price pressure with support holding within reasonable volatility range. August has seen impressive growth from a low of $0.19 to a high of $0.34 this month, representing a 78% explosion as investors flock to stack the shiba inu-inspired coin. This comes following bullish news from the RobinHood Q2 report which revealed Doge coin comprised 62% of the crypto retail revenues. Investor support remains strong, and the latest adoption move could well see DOGE push back up towards its all time high of $0.72 in May. The coin remains up 6,650% this year outperforming almost all other investments available. More crypto news and information If you want to find out more information about Bitcoin or cryptocurrencies in general, then use the search box at the top of this page. Heres an article to get you started. As with any investment, it pays to do some homework before you part with your money. The prices of cryptocurrencies are volatile and go up and down quickly. This page is not recommending a particular currency or whether you should invest or not.
[Social Media Buzz]
None available.
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47166.69, 48847.03, 49327.72, 50025.38, 49944.62, 51753.41, 52633.54, 46811.13, 46091.39, 46391.42
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Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 11215.44, 10978.46, 11208.55, 11450.85, 12285.96, 12573.81, 12156.51, 11358.66, 11815.99, 11392.38, 10256.06, 10895.09, 9477.64, 9693.80, 10666.48, 10530.73, 10767.14, 10599.11, 10343.11, 9900.77, 9811.93, 9911.84, 9870.30, 9477.68, 9552.86, 9519.15, 9607.42, 10085.63, 10399.67, 10518.17, 10821.73, 10970.18, 11805.65, 11478.17, 11941.97, 11966.41, 11862.94, 11354.02, 11523.58, 11382.62, 10895.83, 10051.70, 10311.55, 10374.34, 10231.74, 10345.81, 10916.05, 10763.23, 10138.05, 10131.06, 10407.96, 10159.96, 10138.52, 10370.82, 10185.50, 9754.42, 9510.20, 9598.17, 9630.66, 9757.97, 10346.76, 10623.54, 10594.49, 10575.53, 10353.30, 10517.25, 10441.28, 10334.97, 10115.98, 10178.37, 10410.13, 10360.55, 10358.05, 10347.71, 10276.79, 10241.27, 10198.25, 10266.42, 10181.64, 10019.72, 10070.39, 9729.32, 8620.57, 8486.99, 8118.97, 8251.85, 8245.92, 8104.19, 8293.87, 8343.28.
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[Bitcoin Technical Analysis for 2019-10-01]
Volume: 15305343413, RSI (14-day): 28.60, 50-day EMA: 9735.63, 200-day EMA: 8759.27
[Wider Market Context]
Gold Price: 1482.00, Gold RSI: 44.25
Oil Price: 53.62, Oil RSI: 40.64
[Recent News (last 7 days)]
Gold Price Futures (GC) Technical Analysis – Could Be Setting Up for $60 Break Under $1461.30: Gold prices plunged on Monday after the U.S. Dollar hit multi-year highs, making the dollar-denominated metal more expensive for foreign investors. So-called safe-haven buyers likely bailed out of their positions, triggering a slew of sell stops, as once again that trading strategy failed to yield any fruit. Throughout the year, we’ve seen gold investors burned several times chasing the headlines. Each time, gold has rebounded, but those moves have been fueled by the thought of aggressive rate cutting by the central banks, especially the Fed. At this time, the dollar is the safe-haven asset. Furthermore, talk that the Fed may hit the pause button on a third rate cut at the end of October could be the first sign that other central bank’s may pullback back on the aggressive monetary policy strategy and try to get their respective governments to provide fiscal stimulus. On Monday, December Comex gold settled at $1472.90, down $33.50 or -2.22%. For the month, the December futures contract closed $56.50 lower or -3.69%. Daily December Comex Gold Daily Swing Chart Technical Analysis The main trend is down according to the daily swing chart. The downtrend was reaffirmed on Monday when sellers took out the previous main bottom at $1490.70. The main trend will change to up on a trade through $1543.30. The market is currently trading inside a series of retracement levels, which could determine the next major move in the market. The main range is $1396.40 to $1566.20. Its retracement zone is $1481.30 to $1461.30. The intermediate range is $1412.70 to $1566.20. Its retracement zone is $1489.20 to $1471.00. These levels form a potential support cluster at $1481.30 to $1471.00. The market closed at $1472.90, inside this zone. Daily Swing Chart Technical Forecast Based on Monday’s price action and the close at $1472.90, the direction of the December Comex gold futures contract on Tuesday is likely to be determined by trader reaction to the intermediate Fibonacci level at $1471.00. Story continues Bearish Scenario A sustained move under $1471.00 will indicate the presence of sellers. This could trigger a break into the main Fibonacci level at $1461.30. The daily chart is wide open under $1461.30 so don’t be surprised by another acceleration to the downside. The next major target is $1412.10, followed by the July 1 bottom at $1396.40. Bullish Scenario Holding above $1471.00 will signal the presence of buyers. This could trigger a labored rally with targets at $1481.30 and $1489.20. The trigger point for a breakout to the upside is $1489.20. If this move gains traction then look for a retest of $1518.40. This article was originally posted on FX Empire More From FXEMPIRE: E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis – Approaching Short-Term Retracement Zone at 7807.50 to 7846.75 E-mini Dow Jones Industrial Average (YM) Futures Technical Analysis – 26999 Pivot Trigger Point for Upside Breakout Gold Price Forecast – Head & Shoulder Top Confirmed Gold Price Prediction – Prices Drop; Managed Money is Ultra-long and Poised to Liquidate Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 01/10/19 Crude Oil Price Update – In Position to Test Last Bottom Before Price Spike at $53.93 || Gold Price Futures (GC) Technical Analysis – Could Be Setting Up for $60 Break Under $1461.30: Gold prices plunged on Monday after the U.S. Dollar hit multi-year highs, making the dollar-denominated metal more expensive for foreign investors. So-called safe-haven buyers likely bailed out of their positions, triggering a slew of sell stops, as once again that trading strategy failed to yield any fruit.
Throughout the year, we’ve seen gold investors burned several times chasing the headlines. Each time, gold has rebounded, but those moves have been fueled by the thought of aggressive rate cutting by the central banks, especially the Fed.
At this time, the dollar is the safe-haven asset. Furthermore, talk that the Fed may hit the pause button on a third rate cut at the end of October could be the first sign that other central bank’s may pullback back on the aggressive monetary policy strategy and try to get their respective governments to provide fiscal stimulus.
On Monday,December Comex goldsettled at $1472.90, down $33.50 or -2.22%. For the month, the December futures contract closed $56.50 lower or -3.69%.
The main trend is down according to the daily swing chart. The downtrend was reaffirmed on Monday when sellers took out the previous main bottom at $1490.70. The main trend will change to up on a trade through $1543.30.
The market is currently trading inside a series of retracement levels, which could determine the next major move in the market.
The main range is $1396.40 to $1566.20. Its retracement zone is $1481.30 to $1461.30.
The intermediate range is $1412.70 to $1566.20. Its retracement zone is $1489.20 to $1471.00.
These levels form a potential support cluster at $1481.30 to $1471.00. The market closed at $1472.90, inside this zone.
Based on Monday’s price action and the close at $1472.90, the direction of the December Comex gold futures contract on Tuesday is likely to be determined by trader reaction to the intermediate Fibonacci level at $1471.00.
A sustained move under $1471.00 will indicate the presence of sellers. This could trigger a break into the main Fibonacci level at $1461.30.
The daily chart is wide open under $1461.30 so don’t be surprised by another acceleration to the downside. The next major target is $1412.10, followed by the July 1 bottom at $1396.40.
Holding above $1471.00 will signal the presence of buyers. This could trigger a labored rally with targets at $1481.30 and $1489.20.
The trigger point for a breakout to the upside is $1489.20. If this move gains traction then look for a retest of $1518.40.
Thisarticlewas originally posted on FX Empire
• E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis – Approaching Short-Term Retracement Zone at 7807.50 to 7846.75
• E-mini Dow Jones Industrial Average (YM) Futures Technical Analysis – 26999 Pivot Trigger Point for Upside Breakout
• Gold Price Forecast – Head & Shoulder Top Confirmed
• Gold Price Prediction – Prices Drop; Managed Money is Ultra-long and Poised to Liquidate
• Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 01/10/19
• Crude Oil Price Update – In Position to Test Last Bottom Before Price Spike at $53.93 || Crude Oil Price Update – In Position to Test Last Bottom Before Price Spike at $53.93: U.S. West Texas Intermediate crude oil futures fell on Monday on an easing of concerns over supply shortfalls due to tensions in the Middle East, following the September 14 attack on Saudi Arabian oil facilities. Nonetheless, the market posted a large quarterly loss on demand fears due to the escalating U.S.-China trade war. On Monday, November WTI crude oil futures settled at $54.07, down $1.84 or -3.29%. WTI fell 1.9% in September. For the third quarter, WTI dropped 7.5%, as concerns that the trade war between the United States and China has plunged global economic growth to its lowest levels in a decade weighed on oil demand growth. Daily November WTI Crude Oil Daily Swing Chart Technical Analysis The main trend is up according to the daily swing chart, however, momentum is clearly to the downside. A trade through $53.93 will change the main trend to down. The market is in no position to signal a resumption of the uptrend. However, today’s session begins with the market down 11 sessions from its last main top. This puts it inside the window of time for a closing price reversal bottom. While this chart pattern won’t change the trend, it could trigger the start of a 2 to 3 day counter-trend rally. The main range is $50.48 to $63.89. The market is currently trading on the weak side of its retracement zone at $55.60 to $57.19, making the area new resistance. Daily Swing Chart Technical Forecast Based on Monday’s price action and the close at $54.07, the direction of the November WTI crude oil futures contract on Tuesday is likely to be determined by trader reaction to the Fibonacci level at $55.60. Bearish Scenario A sustained move under $55.60 will signal the presence of sellers. If this move creates enough downside momentum then look for the selling to possibly extend into the next main bottom at $53.93. This will change the main trend to down and could even extend the selling into the next main bottom at $52.71. This price is a potential trigger point for an acceleration to the downside with the August 7 bottom at $50.48, the next major target. Story continues Bullish Scenario Overtaking and sustaining a move over $55.60 will indicate the return of buyers. If this is able to generate enough upside momentum then look for a rally to possibly extend into the main 50% level at $57.19. Taking out this level could shift sentiment to the upside at least temporarily. This article was originally posted on FX Empire More From FXEMPIRE: US Stock Market Overview – Stocks Rise, Finishing the Month up 2%, Utilities Drive Gains Ethereum and Stellar’s Lumen Daily Tech Analysis – 01/10/19 European Equities: It’s Another Busy Day on the Stats… Crude Oil Price Update – In Position to Test Last Bottom Before Price Spike at $53.93 Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 01/10/19 USD/JPY Forex Technical Analysis – Buyers Targeting 108.478 Main Top || Crude Oil Price Update – In Position to Test Last Bottom Before Price Spike at $53.93: U.S. West Texas Intermediate crude oil futures fell on Monday on an easing of concerns over supply shortfalls due to tensions in the Middle East, following the September 14 attack on Saudi Arabian oil facilities. Nonetheless, the market posted a large quarterly loss on demand fears due to the escalating U.S.-China trade war.
On Monday,November WTI crude oilfutures settled at $54.07, down $1.84 or -3.29%.
WTI fell 1.9% in September. For the third quarter, WTI dropped 7.5%, as concerns that the trade war between the United States and China has plunged global economic growth to its lowest levels in a decade weighed on oil demand growth.
The main trend is up according to the daily swing chart, however, momentum is clearly to the downside. A trade through $53.93 will change the main trend to down.
The market is in no position to signal a resumption of the uptrend. However, today’s session begins with the market down 11 sessions from its last main top. This puts it inside the window of time for a closing price reversal bottom. While this chart pattern won’t change the trend, it could trigger the start of a 2 to 3 day counter-trend rally.
The main range is $50.48 to $63.89. The market is currently trading on the weak side of its retracement zone at $55.60 to $57.19, making the area new resistance.
Based on Monday’s price action and the close at $54.07, the direction of the November WTI crude oil futures contract on Tuesday is likely to be determined by trader reaction to the Fibonacci level at $55.60.
A sustained move under $55.60 will signal the presence of sellers. If this move creates enough downside momentum then look for the selling to possibly extend into the next main bottom at $53.93. This will change the main trend to down and could even extend the selling into the next main bottom at $52.71. This price is a potential trigger point for an acceleration to the downside with the August 7 bottom at $50.48, the next major target.
Overtaking and sustaining a move over $55.60 will indicate the return of buyers. If this is able to generate enough upside momentum then look for a rally to possibly extend into the main 50% level at $57.19. Taking out this level could shift sentiment to the upside at least temporarily.
Thisarticlewas originally posted on FX Empire
• US Stock Market Overview – Stocks Rise, Finishing the Month up 2%, Utilities Drive Gains
• Ethereum and Stellar’s Lumen Daily Tech Analysis – 01/10/19
• European Equities: It’s Another Busy Day on the Stats…
• Crude Oil Price Update – In Position to Test Last Bottom Before Price Spike at $53.93
• Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 01/10/19
• USD/JPY Forex Technical Analysis – Buyers Targeting 108.478 Main Top || Focusing on Disruptive Innovation for Changing Markets: This article was originally published on ETFTrends.com. While uncertainties may affect the various market segments in the short run, the long-term trends reveal a global economy that is quickly advancing technologies that can disrupt markets and provide further growth potential. On the upcoming webcast, Focusing on Disruptive Innovation for Changing Markets , Catherine Wood, Chief Investment Officer and CEO, ARK Invest; and Renato Leggi, Client Portfolio Manager, ARK Invest, will identify areas of innovation and look to technologies that are disrupting the markets. For example, if investors are interested in new technologies developing today, ARK Invest’s flagship ARK Innovation Fund ( ARKK ) can provide exposure to cornerstone companies taken from healthcare, technology and industrial sectors that focus on investing in disruptive innovations. Such companies may include ones that benefit from big data, cloud computing, cryptocurrencies, the sharing economy, genomic sequencing, molecular medicine, agricultural biology, 3D printing, energy storage, and autonomous vehicles. The actively managed fund includes companies that merge healthcare with technology and capitalize on the revolution in genomic sequencing. These companies try to better understand how biological information is collected, processed, and applied by reducing guesswork and enhancing precision; restructuring health care, agriculture, pharmaceuticals and enhancing our quality of life. The technology component focuses more in the next generation of internet names. These tech companies benefit from the shifting bases of technology infrastructure to the cloud, enabling mobile, new and local services, such as companies that rely on or benefit from the increased use of shared technology, infrastructure and services, internet-based products and services, new payment methods, big data, the internet of things, and social distribution and media. Lastly, the industrial exposure covers a so-called new industrial revolution or advances in autonomous vehicles, robotics, 3D printing, and energy storage technology that are enhancing productivity, reducing costs, and transforming the manufacturing landscape. Story continues Additionally, investors can gain targeted exposure to these various segments through specialized ETFs, the ARK Industrial Innovation ETF ( ARKQ ), ARK Web x.0 ETF ( ARKW ) and ARK Genomic Revolution Multi-Sector Fund ( ARKG ) . Financial advisors who are interested in learning more about disruptive innovations can register for the Tuesday, October 1 webcast here . POPULAR ARTICLES AND RESOURCES FROM ETFTRENDS.COM SPY ETF Quote VOO ETF Quote QQQ ETF Quote VTI ETF Quote JNUG ETF Quote Top 34 Gold ETFs Top 34 Oil ETFs Top 57 Financials ETFs Bitcoin, Cryptocurrencies Tumble Over Past Week 3 ETFs to Look Into for the 5G Revolution 3 Reasons Why I See Further Upside Potential for Gold Prices Why Impeachment News Might Not Hurt Markets U.S. Markets Close in Red On Impeachment Inquiry READ MORE AT ETFTRENDS.COM > || Focusing on Disruptive Innovation for Changing Markets: This article was originally published onETFTrends.com.
While uncertainties may affect the various market segments in the short run, the long-term trends reveal a global economy that is quickly advancing technologies that can disrupt markets and provide further growth potential.
On the upcoming webcast,Focusing on Disruptive Innovation for Changing Markets, Catherine Wood, Chief Investment Officer and CEO, ARK Invest; and Renato Leggi, Client Portfolio Manager, ARK Invest, will identify areas of innovation and look to technologies that are disrupting the markets.
For example, if investors are interested in new technologies developing today, ARK Invest’s flagshipARK Innovation Fund (ARKK) can provide exposure to cornerstone companies taken from healthcare, technology and industrial sectors that focus on investing in disruptive innovations. Such companies may include ones that benefit from big data, cloud computing, cryptocurrencies, the sharing economy, genomic sequencing, molecular medicine, agricultural biology, 3D printing, energy storage, and autonomous vehicles.
The actively managed fund includes companies that merge healthcare with technology and capitalize on the revolution in genomic sequencing. These companies try to better understand how biological information is collected, processed, and applied by reducing guesswork and enhancing precision; restructuring health care, agriculture, pharmaceuticals and enhancing our quality of life.
The technology component focuses more in the next generation of internet names. These tech companies benefit from the shifting bases of technology infrastructure to the cloud, enabling mobile, new and local services, such as companies that rely on or benefit from the increased use of shared technology, infrastructure and services, internet-based products and services, new payment methods, big data, the internet of things, and social distribution and media.
Lastly, the industrial exposure covers a so-called new industrial revolution or advances in autonomous vehicles, robotics, 3D printing, and energy storage technology that are enhancing productivity, reducing costs, and transforming the manufacturing landscape.
Additionally, investors can gain targeted exposure to these various segments through specialized ETFs, theARK Industrial Innovation ETF (ARKQ),ARK Web x.0 ETF (ARKW) andARK Genomic Revolution Multi-Sector Fund (ARKG) .
Financial advisors who are interested in learning more about disruptive innovations canregister for the Tuesday, October 1 webcast here.
POPULAR ARTICLES AND RESOURCES FROM ETFTRENDS.COM
• SPY ETF Quote
• VOO ETF Quote
• QQQ ETF Quote
• VTI ETF Quote
• JNUG ETF Quote
• Top 34 Gold ETFs
• Top 34 Oil ETFs
• Top 57 Financials ETFs
• Bitcoin, Cryptocurrencies Tumble Over Past Week
• 3 ETFs to Look Into for the 5G Revolution
• 3 Reasons Why I See Further Upside Potential for Gold Prices
• Why Impeachment News Might Not Hurt Markets
• U.S. Markets Close in Red On Impeachment Inquiry
READ MORE AT ETFTRENDS.COM > || Ethereum’s Istanbul Upgrade Arrives Early, Causes Testnet Split: Ethereum test network Ropsten has forked into two separate chains following the activation of system-wide upgrade Istanbul.
“It appears there are two different chains mining the Ropsten test network. There are miners mining on the old [Ropsten] chain and miners mining the new one,” explained Ethereum Foundation community manager Hudson Jameson, adding in atweet:
“This is what testnets are for! Be aware that Ropsten will be unstable until this all plays out.”
Related:Ethereum’s Istanbul Upgrade Will Break 680 Smart Contracts on Aragon
Originally expected to activate on Oct. 2 at block height 6,485,846, Istanbul was released two days earlier than planned – on Sept. 30 at roughly 3:40 a.m. UTC.
The reason for this according to Jameson was due to unusually fast block confirmation times.
Normally, miners on a proof-of-work blockchain like ethereum and test network Ropsten are required to manually upgrade their software in order to ensure the smooth continuation of a single chain.
According to Hudson, the majority of miners on the Ropsten blockchain did not upgrade to the latest software, since the time of the hard fork caught many developers off guard. This has resulted in a split of the test network between those mining on the upgraded chain and those mining on the outdated chain.
Related:New Interest in DAOs Prompts Old Question: Are They Legal?
Last October, a similar event occurred after the activation of ethereum’s previous system-wide upgrade,Constantinople, which resulted in a temporary chain split on the Ropsten network lasting a few hours.
“The complicated part about proof-of-work test network is getting coordination between miners,” Jameson said in a call Monday afternoon. “Right now, we’re trying to run some miners to get Ropsten on the correct Istanbul chain.”
Jameson added that issues with the Ropsten network so far appear to be the result of poor miner communication, not flaws in the Istanbul upgrade code.
As such, how this temporary chain split will ultimately affect the activation of Istanbul on the ethereum main network is still to be determined. Ethereum core developers will have a call onFriday, Oct. 4to discuss Istanbul’s testnet activation.
Hudson Jameson image via CoinDesk archives
• Why Ethereum Briefly Overtook Bitcoin in Daily Transaction Fees
• WATCH: How Blockchain Oracles Could Take Chainlink to New Highs || Ethereums Istanbul Upgrade Arrives Early, Causes Testnet Split: Ethereum test network Ropsten has forked into two separate chains following the activation of system-wide upgrade Istanbul. It appears there are two different chains mining the Ropsten test network. There are miners mining on the old [Ropsten] chain and miners mining the new one, explained Ethereum Foundation community manager Hudson Jameson, adding in a tweet : This is what testnets are for! Be aware that Ropsten will be unstable until this all plays out. Related: Ethereums Istanbul Upgrade Will Break 680 Smart Contracts on Aragon Originally expected to activate on Oct. 2 at block height 6,485,846, Istanbul was released two days earlier than planned on Sept. 30 at roughly 3:40 a.m. UTC. The reason for this according to Jameson was due to unusually fast block confirmation times. Normally, miners on a proof-of-work blockchain like ethereum and test network Ropsten are required to manually upgrade their software in order to ensure the smooth continuation of a single chain. According to Hudson, the majority of miners on the Ropsten blockchain did not upgrade to the latest software, since the time of the hard fork caught many developers off guard. This has resulted in a split of the test network between those mining on the upgraded chain and those mining on the outdated chain. Related: New Interest in DAOs Prompts Old Question: Are They Legal? Last October, a similar event occurred after the activation of ethereums previous system-wide upgrade, Constantinople , which resulted in a temporary chain split on the Ropsten network lasting a few hours. The complicated part about proof-of-work test network is getting coordination between miners, Jameson said in a call Monday afternoon. Right now, were trying to run some miners to get Ropsten on the correct Istanbul chain. Jameson added that issues with the Ropsten network so far appear to be the result of poor miner communication, not flaws in the Istanbul upgrade code. As such, how this temporary chain split will ultimately affect the activation of Istanbul on the ethereum main network is still to be determined. Ethereum core developers will have a call on Friday, Oct. 4 to discuss Istanbuls testnet activation. Story continues Hudson Jameson image via CoinDesk archives Related Stories Why Ethereum Briefly Overtook Bitcoin in Daily Transaction Fees WATCH: How Blockchain Oracles Could Take Chainlink to New Highs || Last Bitcoin ETF Hope Standing: Longtime readers of ETF.com will recognize the name Matt Hougan as one of the founding employees as well as past CEO of ETF.com. He has since moved on, serving as CEO of Inside ETFs and managing director of global finance at Informa, and currently is managing director and head of research for San Francisco-based Bitwise Investments, a digital asset management firm.
Bitwisehas a bitcoin ETF proposal before the SEC, awaiting approval that could come as soon as Oct. 14. ETF.com spoke with Hougan to discuss why Bitwise’s bitcoin ETF is different from other proposals, which he thinks will make the difference in getting it approved.
ETF.com: The SEC is expected to approve or reject your bitcoin ETF on Oct. 14. Tell me what’s going on in the regulatory pipeline.
Matt Hougan:Bitwise has filed two ETF applications. One was for an index-based ETF tracking our Bitwise 10 Large Cap Crypto Index. You can think of that as the 10 largest assets by market capitalization in crypto, which is kind of equivalent to the S&P 500. It captures about 80% of the market.
We also have another application that, like the Winklevoss application, is just going to hold bitcoin. It’s called the Bitwise Bitcoin ETF and is physically backed, and it proposes to hold bitcoin with an insured regulated third-party custodian.
We haven't named that custodian, but there are about a handful of custodians that meet those two qualifications. They have insurance in place, and they're regulated as a state trust charter. It’s fair to say that we’re not actively pursuing the index-based application. While that’s filed, we’re not actively pursuing or doing research on it.
The one we’re pursuing aggressively is the Bitwise Bitcoin ETF application. We’ve had five or six meetings with the SEC staff and the commissioners about that application. We’ve submitted over 500 pages of research in support of that application, then more than 50 comment letters around that application. This comes to a head on Oct. 14.
ETF.com: What’s the difference between your bitcoin ETF and the proposed (and rejected) Winklevoss physically backed bitcoin ETF, “COIN”? How do you see yours jumping through a hoop that others didn’t?(See:SEC Rejects Winklevoss Bitcoin ETF)
Hougan:There are three differences. The first difference is that Gemini was going to use itself as custodian. Gemini is an insured regulated custodian, so they would meet our definition. But we’re using a third-party custodian. That’s one difference.
The other more important difference is that they were pricing their bitcoin based on the price on the Gemini exchange. Gemini is one of the smaller bitcoin exchanges. They were using that as the sole pricing source. We proposed to use an aggregated price from all of the significant spot exchanges in the world. Part of the SEC’s concern surrounds the potential for market manipulation, both around the price and of the underlying markets. We believe using all of the available exchanges is helpful for that.
But the biggest difference is that the market has matured significantly in the past two years. Two years ago, there were no insured regulated custodians. And now there are more than a handful. That’s not anything we did.
Another example is that two years ago, the markets were relatively inefficient, with large arbitrage opportunities, and uneven pricing. But now market makers have entered the market in the past year. The futures market has become truly significant. And as a result, it’s just a much different market today.
The passage of time and better structuring have contributed to separate our proposal. I guess there's another piece. The growth of the CME bitcoin futures market is truly significant. One of the arguments we’ve made is that the CME market is now doing $200-million-plus a day on average volume. We think it satisfies that requirement. Now we’ll see if we've convinced the SEC. But that’s one of the reasons we think we have a better shot than the Winklevoss proposal did. It’s that the market has become much more institutional in nature.
ETF.com: You argue better market stability, but over the last few days, we’ve seen a complete crater in bitcoin prices, for whatever reason. If I’m this skeptical regulator, and I look at price more than other elements, these last few days has to give me pause.
Hougan:One of the hallmarks of the bitcoin market is that it’s historically been extremely volatile. We expect it to continue to be volatile in the future. I know you were talking about a specific move. But if you look back over history, there've been six periods where the bitcoin market has gone down more than 70%, which is a lot. Now, of course, over that entire period, the market’s up about 1,000,000%, literally. But it has periods where it falls down a lot.
I actually don’t know that the SEC is worried about the fact that the asset can be volatile. We have plenty of ETFs tracking volatile markets that exist for a while. Volatility is a volatile market. Nature gas is a volatile market.
What they're really worried about is, are the underlying markets being manipulated without a surveillance sharing agreement? Bitcoin trades on a mix of regulated and unregulated exchanges. And whether it goes up or down shouldn’t really matter to the application. What matters is whether that’s a fair and reasonable price, or whether it’s being manipulated by the market.
We’ve made the argument that of course Bitcoin is volatile. There's no reward without risk. But what we were trying to argue is that the underlying markets, despite that volatility, are functioning well. There are arbitrages in place; it’s a two-sided market. And it’s an increasingly regulated market that can support ETFs.
ETF.com: Who would buy your bitcoin ETF in the first month?
Hougan:We’re out there right now, talking to financial advisors and family offices and small-sized institutions. Many of whom would love to have a safe, secure way to provide exposure to some or all of their clients to digital assets. Right now, they're not really set up.
The thing about the bitcoin market is, there are great ways for retail investors to invest today, through Coinbase and other services that are perfect for small investments. There are good ways for large institutional investors to invest in private funds, like the one Bitwise and other people offer. There's not a great way that fits into the workflow easily for financial advisors to invest.
There is a real market for this. We can help financial advisors’ portfolio problems, finding noncorrelated source of returns.
ETF.com: What is the expense ratio for this ETF?
Hougan:Our bitcoin fund, which is a private fund, has an expense ratio of 1% for the institutional share class, and 1.5% for the retail share class. You can use those numbers as a stalking horse. But we haven't published the expense ratio yet.
One important thing to keep in mind is that every new asset class that’s been opened up in ETFs has taken a long time. It took multiple years to get bond ETFs over the line. It took about $12 million in legal fees to get theSPDR Gold Trust (GLD)over the line. We just had nontransparent active ETFs—which were filed when you and I were children—get approved. It takes a long time. The SEC does due diligence. They're doing that. And honestly, they’ve been asking great questions.
Contact Drew Voros atdvoros@etf.com
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Permalink| © Copyright 2019ETF.com.All rights reserved || Last Bitcoin ETF Hope Standing: Matt Hougan Longtime readers of ETF.com will recognize the name Matt Hougan as one of the founding employees as well as past CEO of ETF.com. He has since moved on, serving as CEO of Inside ETFs and managing director of global finance at Informa, and currently is managing director and head of research for San Francisco-based Bitwise Investments, a digital asset management firm. Bitwise has a bitcoin ETF proposal before the SEC, awaiting approval that could come as soon as Oct. 14. ETF.com spoke with Hougan to discuss why Bitwise’s bitcoin ETF is different from other proposals, which he thinks will make the difference in getting it approved. ETF.com: The SEC is expected to approve or reject your bitcoin ETF on Oct. 14. Tell me what’s going on in the regulatory pipeline. Matt Hougan: Bitwise has filed two ETF applications. One was for an index-based ETF tracking our Bitwise 10 Large Cap Crypto Index. You can think of that as the 10 largest assets by market capitalization in crypto, which is kind of equivalent to the S&P 500. It captures about 80% of the market. We also have another application that, like the Winklevoss application, is just going to hold bitcoin. It’s called the Bitwise Bitcoin ETF and is physically backed, and it proposes to hold bitcoin with an insured regulated third-party custodian. We haven't named that custodian, but there are about a handful of custodians that meet those two qualifications. They have insurance in place, and they're regulated as a state trust charter. It’s fair to say that we’re not actively pursuing the index-based application. While that’s filed, we’re not actively pursuing or doing research on it. The one we’re pursuing aggressively is the Bitwise Bitcoin ETF application. We’ve had five or six meetings with the SEC staff and the commissioners about that application. We’ve submitted over 500 pages of research in support of that application, then more than 50 comment letters around that application. This comes to a head on Oct. 14 . Story continues ETF.com: What’s the difference between your bitcoin ETF and the proposed (and rejected) Winklevoss physically backed bitcoin ETF, “COIN”? How do you see yours jumping through a hoop that others didn’t? (See: SEC Rejects Winklevoss Bitcoin ETF ) Hougan: There are three differences. The first difference is that Gemini was going to use itself as custodian. Gemini is an insured regulated custodian, so they would meet our definition. But we’re using a third-party custodian. That’s one difference. The other more important difference is that they were pricing their bitcoin based on the price on the Gemini exchange. Gemini is one of the smaller bitcoin exchanges. They were using that as the sole pricing source. We proposed to use an aggregated price from all of the significant spot exchanges in the world. Part of the SEC’s concern surrounds the potential for market manipulation, both around the price and of the underlying markets. We believe using all of the available exchanges is helpful for that. But the biggest difference is that the market has matured significantly in the past two years. Two years ago, there were no insured regulated custodians. And now there are more than a handful. That’s not anything we did. Another example is that two years ago, the markets were relatively inefficient, with large arbitrage opportunities, and uneven pricing. But now market makers have entered the market in the past year. The futures market has become truly significant. And as a result, it’s just a much different market today. The passage of time and better structuring have contributed to separate our proposal. I guess there's another piece. The growth of the CME bitcoin futures market is truly significant. One of the arguments we’ve made is that the CME market is now doing $200-million-plus a day on average volume. We think it satisfies that requirement. Now we’ll see if we've convinced the SEC. But that’s one of the reasons we think we have a better shot than the Winklevoss proposal did. It’s that the market has become much more institutional in nature. ETF.com: You argue better market stability, but over the last few days, we’ve seen a complete crater in bitcoin prices, for whatever reason. If I’m this skeptical regulator, and I look at price more than other elements, these last few days has to give me pause. Hougan: One of the hallmarks of the bitcoin market is that it’s historically been extremely volatile. We expect it to continue to be volatile in the future. I know you were talking about a specific move. But if you look back over history, there've been six periods where the bitcoin market has gone down more than 70%, which is a lot. Now, of course, over that entire period, the market’s up about 1,000,000%, literally. But it has periods where it falls down a lot. I actually don’t know that the SEC is worried about the fact that the asset can be volatile. We have plenty of ETFs tracking volatile markets that exist for a while. Volatility is a volatile market. Nature gas is a volatile market. What they're really worried about is, are the underlying markets being manipulated without a surveillance sharing agreement? Bitcoin trades on a mix of regulated and unregulated exchanges. And whether it goes up or down shouldn’t really matter to the application. What matters is whether that’s a fair and reasonable price, or whether it’s being manipulated by the market. We’ve made the argument that of course Bitcoin is volatile. There's no reward without risk. But what we were trying to argue is that the underlying markets, despite that volatility, are functioning well. There are arbitrages in place; it’s a two-sided market. And it’s an increasingly regulated market that can support ETFs. ETF.com: Who would buy your bitcoin ETF in the first month? Hougan: We’re out there right now, talking to financial advisors and family offices and small-sized institutions. Many of whom would love to have a safe, secure way to provide exposure to some or all of their clients to digital assets. Right now, they're not really set up. The thing about the bitcoin market is, there are great ways for retail investors to invest today, through Coinbase and other services that are perfect for small investments. There are good ways for large institutional investors to invest in private funds, like the one Bitwise and other people offer. There's not a great way that fits into the workflow easily for financial advisors to invest. There is a real market for this. We can help financial advisors’ portfolio problems, finding noncorrelated source of returns. ETF.com: What is the expense ratio for this ETF? Hougan: Our bitcoin fund, which is a private fund, has an expense ratio of 1% for the institutional share class, and 1.5% for the retail share class. You can use those numbers as a stalking horse. But we haven't published the expense ratio yet. One important thing to keep in mind is that every new asset class that’s been opened up in ETFs has taken a long time. It took multiple years to get bond ETFs over the line. It took about $12 million in legal fees to get the SPDR Gold Trust (GLD) over the line. We just had nontransparent active ETFs—which were filed when you and I were children—get approved. It takes a long time. The SEC does due diligence. They're doing that. And honestly, they’ve been asking great questions. Contact Drew Voros at dvoros@etf.com Recommended Stories Live Chat: How Buffer ETFs Work & Ticker Talk ETF Prime Podcast: Bitcoin, Tesla & Fractional Shares Hot Reads: These 5 Active ETFs Worth A Look Live Chat: Keys To 'ETF Rule' & Bitcoin Setback Permalink | © Copyright 2019 ETF.com. All rights reserved || Last Bitcoin ETF Hope Standing: Longtime readers of ETF.com will recognize the name Matt Hougan as one of the founding employees as well as past CEO of ETF.com. He has since moved on, serving as CEO of Inside ETFs and managing director of global finance at Informa, and currently is managing director and head of research for San Francisco-based Bitwise Investments, a digital asset management firm.
Bitwisehas a bitcoin ETF proposal before the SEC, awaiting approval that could come as soon as Oct. 14. ETF.com spoke with Hougan to discuss why Bitwise’s bitcoin ETF is different from other proposals, which he thinks will make the difference in getting it approved.
ETF.com: The SEC is expected to approve or reject your bitcoin ETF on Oct. 14. Tell me what’s going on in the regulatory pipeline.
Matt Hougan:Bitwise has filed two ETF applications. One was for an index-based ETF tracking our Bitwise 10 Large Cap Crypto Index. You can think of that as the 10 largest assets by market capitalization in crypto, which is kind of equivalent to the S&P 500. It captures about 80% of the market.
We also have another application that, like the Winklevoss application, is just going to hold bitcoin. It’s called the Bitwise Bitcoin ETF and is physically backed, and it proposes to hold bitcoin with an insured regulated third-party custodian.
We haven't named that custodian, but there are about a handful of custodians that meet those two qualifications. They have insurance in place, and they're regulated as a state trust charter. It’s fair to say that we’re not actively pursuing the index-based application. While that’s filed, we’re not actively pursuing or doing research on it.
The one we’re pursuing aggressively is the Bitwise Bitcoin ETF application. We’ve had five or six meetings with the SEC staff and the commissioners about that application. We’ve submitted over 500 pages of research in support of that application, then more than 50 comment letters around that application. This comes to a head on Oct. 14.
ETF.com: What’s the difference between your bitcoin ETF and the proposed (and rejected) Winklevoss physically backed bitcoin ETF, “COIN”? How do you see yours jumping through a hoop that others didn’t?(See:SEC Rejects Winklevoss Bitcoin ETF)
Hougan:There are three differences. The first difference is that Gemini was going to use itself as custodian. Gemini is an insured regulated custodian, so they would meet our definition. But we’re using a third-party custodian. That’s one difference.
The other more important difference is that they were pricing their bitcoin based on the price on the Gemini exchange. Gemini is one of the smaller bitcoin exchanges. They were using that as the sole pricing source. We proposed to use an aggregated price from all of the significant spot exchanges in the world. Part of the SEC’s concern surrounds the potential for market manipulation, both around the price and of the underlying markets. We believe using all of the available exchanges is helpful for that.
But the biggest difference is that the market has matured significantly in the past two years. Two years ago, there were no insured regulated custodians. And now there are more than a handful. That’s not anything we did.
Another example is that two years ago, the markets were relatively inefficient, with large arbitrage opportunities, and uneven pricing. But now market makers have entered the market in the past year. The futures market has become truly significant. And as a result, it’s just a much different market today.
The passage of time and better structuring have contributed to separate our proposal. I guess there's another piece. The growth of the CME bitcoin futures market is truly significant. One of the arguments we’ve made is that the CME market is now doing $200-million-plus a day on average volume. We think it satisfies that requirement. Now we’ll see if we've convinced the SEC. But that’s one of the reasons we think we have a better shot than the Winklevoss proposal did. It’s that the market has become much more institutional in nature.
ETF.com: You argue better market stability, but over the last few days, we’ve seen a complete crater in bitcoin prices, for whatever reason. If I’m this skeptical regulator, and I look at price more than other elements, these last few days has to give me pause.
Hougan:One of the hallmarks of the bitcoin market is that it’s historically been extremely volatile. We expect it to continue to be volatile in the future. I know you were talking about a specific move. But if you look back over history, there've been six periods where the bitcoin market has gone down more than 70%, which is a lot. Now, of course, over that entire period, the market’s up about 1,000,000%, literally. But it has periods where it falls down a lot.
I actually don’t know that the SEC is worried about the fact that the asset can be volatile. We have plenty of ETFs tracking volatile markets that exist for a while. Volatility is a volatile market. Nature gas is a volatile market.
What they're really worried about is, are the underlying markets being manipulated without a surveillance sharing agreement? Bitcoin trades on a mix of regulated and unregulated exchanges. And whether it goes up or down shouldn’t really matter to the application. What matters is whether that’s a fair and reasonable price, or whether it’s being manipulated by the market.
We’ve made the argument that of course Bitcoin is volatile. There's no reward without risk. But what we were trying to argue is that the underlying markets, despite that volatility, are functioning well. There are arbitrages in place; it’s a two-sided market. And it’s an increasingly regulated market that can support ETFs.
ETF.com: Who would buy your bitcoin ETF in the first month?
Hougan:We’re out there right now, talking to financial advisors and family offices and small-sized institutions. Many of whom would love to have a safe, secure way to provide exposure to some or all of their clients to digital assets. Right now, they're not really set up.
The thing about the bitcoin market is, there are great ways for retail investors to invest today, through Coinbase and other services that are perfect for small investments. There are good ways for large institutional investors to invest in private funds, like the one Bitwise and other people offer. There's not a great way that fits into the workflow easily for financial advisors to invest.
There is a real market for this. We can help financial advisors’ portfolio problems, finding noncorrelated source of returns.
ETF.com: What is the expense ratio for this ETF?
Hougan:Our bitcoin fund, which is a private fund, has an expense ratio of 1% for the institutional share class, and 1.5% for the retail share class. You can use those numbers as a stalking horse. But we haven't published the expense ratio yet.
One important thing to keep in mind is that every new asset class that’s been opened up in ETFs has taken a long time. It took multiple years to get bond ETFs over the line. It took about $12 million in legal fees to get theSPDR Gold Trust (GLD)over the line. We just had nontransparent active ETFs—which were filed when you and I were children—get approved. It takes a long time. The SEC does due diligence. They're doing that. And honestly, they’ve been asking great questions.
Contact Drew Voros atdvoros@etf.com
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Permalink| © Copyright 2019ETF.com.All rights reserved || Santander brings blockchain payments to Madrid's buses: Soon travelers in Madrid will be able to pay for their public transport using a single unified digital payment system, powered by blockchain. In partnership with Banco Santander, blockchain certification company Vottun is developing an all-in-one system that will unify all of the city’s public transport under one app, driven by blockchain. The app will enable users to register once in order to use all of the city’s public mobility services, including buses, taxis and electric vehicle charging. As well as offering a single onboarding and payment system, the app also promises to improve data security for users. Vottun is one of 300 start-ups that applied to Madrid in Motion , a new initiative by the Municipal Transport Company of Madrid (EMT) that aims to streamline the city's cumbersome public transport system. At present, up to 30 different businesses that offer their services to the EMT, including bus companies, taxis, bicycle hires, motorcycles and car rentals as well as the metro. Each service has its own app, which travelers must register for separately, providing ID and payment information. “The onboarding and validation process of user information with be the same for all the mobility services offered in Madrid through the EMT app,” said Rohan Hall, CEO of Vottun. “This will make it easier for citizens to use public transportation, and to pay in an easier and more transparent way.” Madrid appears to be the perfect locale for a venture of this kind. According to statistics from Moovitapp, the average commute time within the city is 62 minutes, with over 63 percent of those commuters spending more than two hours a day onboard public transportation. Moreover, in a single trip, 68 percent of Madridians make at least one transfer, with 23 percent transferring twice. Interestingly, Madrid isn't the first to digitize its transportation system using blockchain. Earlier this year a partnership between blockchain-based financial services provider Bitex and transit payment card platform Alto Viaje enabled Argentinians to pay for travel on trains, buses and subways throughout the country using Bitcoin. || Santander brings blockchain payments to Madrid's buses: Soon travelers in Madrid will be able to pay for their public transport using a single unified digital payment system, powered by blockchain.
In partnership with Banco Santander, blockchain certification companyVottunis developing an all-in-one system that will unify all of the city’s public transport under one app, driven by blockchain. The app will enable users to register once in order to use all of the city’s public mobility services, including buses, taxis and electric vehicle charging. As well as offering a single onboarding and payment system, the app also promises to improve data security for users.
Vottun is one of 300 start-ups that applied toMadrid in Motion, a new initiative by the Municipal Transport Company of Madrid (EMT) that aims to streamline the city's cumbersome public transport system. At present, up to 30 different businesses that offer their services to the EMT, including bus companies, taxis, bicycle hires, motorcycles and car rentals as well as the metro. Each service has its own app, which travelers must register for separately, providing ID and payment information.
“The onboarding and validation process of user information with be the same for all the mobility services offered in Madrid through the EMT app,” said Rohan Hall, CEO of Vottun. “This will make it easier for citizens to use public transportation, and to pay in an easier and more transparent way.”
Madrid appears to be the perfect locale for a venture of this kind. According tostatisticsfrom Moovitapp, the average commute time within the city is 62 minutes, with over 63 percent of those commuters spending more than two hours a day onboard public transportation. Moreover, in a single trip, 68 percent of Madridians make at least one transfer, with 23 percent transferring twice.
Interestingly, Madrid isn't the first to digitize its transportation system using blockchain. Earlier this year apartnershipbetween blockchain-based financial services provider Bitex and transit payment card platform Alto Viaje enabled Argentinians to pay for travel on trains, buses and subways throughout the country using Bitcoin. || Top exchanges team up to determine whether crypto assets are securities: A number of top digital asset exchanges including Coinbase, Bittrex and Kraken have teamed up to assess which cryptocurrencies possess characteristics of securities. According to the Wall Street Journal , the process will involve exchanges rating particular cryptocurrencies between one and five to see if they can remain listed on exchanges from a compliance standpoint. Token issuers will reportedly have no input on the initial ratings, although they will be able to dispute their score by providing information to the contrary. The world’s largest cryptocurrency in terms of market cap, Bitcoin, has been giving a ‘1’ rating which means that it is the least like a security, while the Maker token has a ‘4.5’ rating, making it very similar to a security. So, a bunch of unregulated crypto exchanges are giving their 'impartial' opinion on which cryptocurrencies should be regulated under Securities Law. The intention is great but I'm not sure the SEC will like this, leave them to do their job. @SEC_News $crypto #regulation — Oliver Knight (@KnightCoinRivet) September 30, 2019 The aim is to assist the SEC and show that there is a conscious effort going towards safeguarding investors and the categorisation of cryptocurrencies as potential securities. Mary Beth Buchanan, Kraken’s general counsel said: “It’s our hope the SEC will view this as a positive step. It does show the SEC what each exchange is doing to come to a decision”. However, it seems as though the SEC has not yet been consulted on this new process. This could eventually be detrimental to exchanges as the SEC won’t take kindly to largely unregulated exchanges attempting to impose securities laws on unregulated digital assets, especially as they don’t have the authority to do so and it may impact the price of said assets. For more news, guides and cryptocurrency analysis, click here . The post Top exchanges team up to determine whether crypto assets are securities appeared first on Coin Rivet . || Top exchanges team up to determine whether crypto assets are securities: A number of top digital asset exchanges including Coinbase, Bittrex and Kraken have teamed up to assess which cryptocurrencies possess characteristics of securities. According to the Wall Street Journal , the process will involve exchanges rating particular cryptocurrencies between one and five to see if they can remain listed on exchanges from a compliance standpoint. Token issuers will reportedly have no input on the initial ratings, although they will be able to dispute their score by providing information to the contrary. The world’s largest cryptocurrency in terms of market cap, Bitcoin, has been giving a ‘1’ rating which means that it is the least like a security, while the Maker token has a ‘4.5’ rating, making it very similar to a security. So, a bunch of unregulated crypto exchanges are giving their 'impartial' opinion on which cryptocurrencies should be regulated under Securities Law. The intention is great but I'm not sure the SEC will like this, leave them to do their job. @SEC_News $crypto #regulation — Oliver Knight (@KnightCoinRivet) September 30, 2019 The aim is to assist the SEC and show that there is a conscious effort going towards safeguarding investors and the categorisation of cryptocurrencies as potential securities. Mary Beth Buchanan, Kraken’s general counsel said: “It’s our hope the SEC will view this as a positive step. It does show the SEC what each exchange is doing to come to a decision”. However, it seems as though the SEC has not yet been consulted on this new process. This could eventually be detrimental to exchanges as the SEC won’t take kindly to largely unregulated exchanges attempting to impose securities laws on unregulated digital assets, especially as they don’t have the authority to do so and it may impact the price of said assets. For more news, guides and cryptocurrency analysis, click here . The post Top exchanges team up to determine whether crypto assets are securities appeared first on Coin Rivet . || Ethereum’s Istanbul Upgrade Will Break 680 Smart Contracts on Aragon: A system-wide upgrade arrived on ethereum’s Ropsten test network on Monday. And while “Istanbul” should ultimately introduce network efficiencies, the testnet launch won’t be smooth sailing for everyone.
For governance platform Aragon, in particular, the code changes were expected to break roughly 680 smart contracts, according to Aragon One CTO Jorge Izquierdo. These smart contracts typically manage the governance of decentralized applications (dapps) running on the ethereum blockchain.
Izquierdo tells CoinDesk this means forced upgrades are required for the affected smart contracts in order to ensure decentralized autonomous organizations (DAOs) built on the Aragon platform continue to function smoothly.
Related:Ethereum’s Istanbul Upgrade Arrives Early, Causes Testnet Split
“Up until now, DAOs could receive ETH from one another,” said Izquierdo. “This will no longer be possible after the Istanbul hard fork.”
Aragon One communications lead John Light says these fund transfers between DAOs on Aragon would effectively “run out of gas.”
Calling it an unfortunate “tradeoff” from Aragon’s point of view, Izquierdo said:
“The issue were going to have hasn’t been deemed important enough for this hard fork not to happen, which from our point of view is unfortunate [but] it’s a hard balance we understand.”
Related:New Interest in DAOs Prompts Old Question: Are They Legal?
Indeed, for ethereum token-swap platform Kyber Network the system-wide upgrade only affects a single smart contract, according to Kyber Network co-founder Loi Luu.
Stepping back, the code change in Istanbul affecting certain smart contracts is known asEthereum Improvement Proposal (EIP) 1884and is meant to address one downside of ethereum’s steady growth.
As the size of the blockchain has increased, the computational cost to recall data about the state of the network (such as account balances) has also increased. Gas prices, on the other hand, have stayed stagnant, creating what Ethereum Foundation security lead Martin Holst Swende calls “an imbalance between the price of an operation and the resource consumption.”
In order to mitigate the possibility of overloading the network, EIP 1884 increases the gas prices of three resource-intensive operations.
The so-called SLOAD operation will face the greatest increase in cost for application developers building on ethereum, going from 200 gas per operation to 800 gas per operation.
This four-fold increase in SLOAD gas cost is what breaks Aragon smart contracts and jacks up prices for end-users of the Kyber Network.
“In one Kyber transaction, we actually use a lot of SLOAD operations,” said Luu. “So after [Istanbul] is in effect, the price of most of our transactions will go up by 30 percent.”
While this is not the first time gas prices have increased for the SLOAD operation, Luu says the previous increase from 50 to 200 gas backin 2016occurred when there were fewer active users of the ethereum network and when ETH had a lower market value.
Now, Luu says, increasing the cost of SLOAD operations will have greater ramifications to both end-users and application developers.
“[Istanbul] is the kind of hard fork that’s going to break a lot of smart contracts,” Luu said earlier this month. “If we weren’t following the conversation between core developers, we would have missed [EIP 1884 information] and that would have been very bad for us.”
That said, blockchain researcher Mihailo Bjelic said Monday that “bad developer practices” are likely the cause of such hiccups, rather than the nature of the upgrade itself, adding:
“Developers should definitely not be hard-coding assumptions about gas cost into their applications because these numbers can change at any point.”
Update (Sept. 30, 19:14 UTC):The Istanbul upgrade went live on testnetearlier than expected. This article has been updated to reflect that. Additional comments have also been added.
Vitalik Buterin image via CoinDesk archives
• Why Ethereum Briefly Overtook Bitcoin in Daily Transaction Fees
• WATCH: How Blockchain Oracles Could Take Chainlink to New Highs || Ethereums Istanbul Upgrade Will Break 680 Smart Contracts on Aragon: A system-wide upgrade arrived on ethereums Ropsten test network on Monday. And while Istanbul should ultimately introduce network efficiencies, the testnet launch wont be smooth sailing for everyone. For governance platform Aragon, in particular, the code changes were expected to break roughly 680 smart contracts, according to Aragon One CTO Jorge Izquierdo. These smart contracts typically manage the governance of decentralized applications (dapps) running on the ethereum blockchain. Izquierdo tells CoinDesk this means forced upgrades are required for the affected smart contracts in order to ensure decentralized autonomous organizations (DAOs) built on the Aragon platform continue to function smoothly. Related: Ethereums Istanbul Upgrade Arrives Early, Causes Testnet Split Up until now, DAOs could receive ETH from one another, said Izquierdo. This will no longer be possible after the Istanbul hard fork. Aragon One communications lead John Light says these fund transfers between DAOs on Aragon would effectively run out of gas. Calling it an unfortunate tradeoff from Aragons point of view, Izquierdo said: The issue were going to have hasnt been deemed important enough for this hard fork not to happen, which from our point of view is unfortunate [but] its a hard balance we understand. Related: New Interest in DAOs Prompts Old Question: Are They Legal? Indeed, for ethereum token-swap platform Kyber Network the system-wide upgrade only affects a single smart contract, according to Kyber Network co-founder Loi Luu. Stepping back, the code change in Istanbul affecting certain smart contracts is known as Ethereum Improvement Proposal (EIP) 1884 and is meant to address one downside of ethereums steady growth. As the size of the blockchain has increased, the computational cost to recall data about the state of the network (such as account balances) has also increased. Gas prices, on the other hand, have stayed stagnant, creating what Ethereum Foundation security lead Martin Holst Swende calls an imbalance between the price of an operation and the resource consumption. Story continues In order to mitigate the possibility of overloading the network, EIP 1884 increases the gas prices of three resource-intensive operations. SLOAD down The so-called SLOAD operation will face the greatest increase in cost for application developers building on ethereum, going from 200 gas per operation to 800 gas per operation. This four-fold increase in SLOAD gas cost is what breaks Aragon smart contracts and jacks up prices for end-users of the Kyber Network. In one Kyber transaction, we actually use a lot of SLOAD operations, said Luu. So after [Istanbul] is in effect, the price of most of our transactions will go up by 30 percent. While this is not the first time gas prices have increased for the SLOAD operation, Luu says the previous increase from 50 to 200 gas back in 2016 occurred when there were fewer active users of the ethereum network and when ETH had a lower market value. Now, Luu says, increasing the cost of SLOAD operations will have greater ramifications to both end-users and application developers. [Istanbul] is the kind of hard fork thats going to break a lot of smart contracts, Luu said earlier this month. If we werent following the conversation between core developers, we would have missed [EIP 1884 information] and that would have been very bad for us. That said, blockchain researcher Mihailo Bjelic said Monday that bad developer practices are likely the cause of such hiccups, rather than the nature of the upgrade itself, adding: Developers should definitely not be hard-coding assumptions about gas cost into their applications because these numbers can change at any point. Update (Sept. 30, 19:14 UTC): The Istanbul upgrade went live on testnet earlier than expected . This article has been updated to reflect that. Additional comments have also been added. Vitalik Buterin image via CoinDesk archives Related Stories Why Ethereum Briefly Overtook Bitcoin in Daily Transaction Fees WATCH: How Blockchain Oracles Could Take Chainlink to New Highs || Keep it Short With This Vanguard Bond ETF: This article was originally published on ETFTrends.com. Although the Federal Reserve has lowered interest rates twice this year and could continue doing so, some investors may want to manage duration risk with short-term Treasury ETFs, such as the Vanguard Short-Term Government Bond ETF ( VGSH ) . Bond funds hold a collection of debt with varying maturities, buying and selling debt securities to maintain their short-, intermediate- or long-term strategy. When it comes to bond ETFs, investors should look at the duration, or a bond fund’s measure of sensitivity to gauge their investment’s exposure to changes in interest rates – a higher duration means higher sensitivity to shifts in rates. Fixed-income investors should consider short-term, high investment-grade debt securities in a rising rate environment to hedge risks associated with higher rates and any potential volatility in markets when rates do rise. However, VGSH has some utility in the current environment. VGSH “tracks a short-term Treasury bond index, resulting in a portfolio carrying very little interest-rate and credit risk,” said Morningstar in a Friday note . “Risk and return are highly correlated in the fixed-income market, so this fund will not generate mouthwatering results, but it will deliver consistent returns and provide strong downside protection. Since its inception in November 2009, its standard deviation was over 2 percentage points less than the Bloomberg Barclays US Aggregate Bond Market index and nearly 12 percentage points less than the S&P 500.” Cost-Effective Bet As is the case with so many Vanguard ETF, VGSH is a category leader in terms of costs. The fund charges just 0.07% per year or $7 on a $10,000 investment. The Vanguard fund has a duration of less than two years and follows the Bloomberg Barclays U.S. Treasury 1-3 Year Index. “The Treasury market is highly efficient and liquid, reflecting the market’s inflation and interest-rate expectations,” according to Morningstar. “It is difficult for active managers to gain a durable edge and recoup their fees in this market, without also taking greater risk than this portfolio. Fees are particularly important in the short-term Treasury market, as these securities tend to have lower return potential than many other types of bonds. This fund ranks among the cheapest in its category, which should provide it with a solid edge over more-expensive alternatives.” The research firm has a Silver rating on VGSH, the second-highest rating it places on ETFs. For more information on U.S. government debt, visit our Treasury Bonds category . Story continues POPULAR ARTICLES AND RESOURCES FROM ETFTRENDS.COM SPY ETF Quote VOO ETF Quote QQQ ETF Quote VTI ETF Quote JNUG ETF Quote Top 34 Gold ETFs Top 34 Oil ETFs Top 57 Financials ETFs Bitcoin, Cryptocurrencies Tumble Over Past Week 3 ETFs to Look Into for the 5G Revolution 3 Reasons Why I See Further Upside Potential for Gold Prices Why Impeachment News Might Not Hurt Markets U.S. Markets Close in Red On Impeachment Inquiry READ MORE AT ETFTRENDS.COM > View comments || Keep it Short With This Vanguard Bond ETF: This article was originally published on ETFTrends.com. Although the Federal Reserve has lowered interest rates twice this year and could continue doing so, some investors may want to manage duration risk with short-term Treasury ETFs, such as the Vanguard Short-Term Government Bond ETF ( VGSH ) . Bond funds hold a collection of debt with varying maturities, buying and selling debt securities to maintain their short-, intermediate- or long-term strategy. When it comes to bond ETFs, investors should look at the duration, or a bond fund’s measure of sensitivity to gauge their investment’s exposure to changes in interest rates – a higher duration means higher sensitivity to shifts in rates. Fixed-income investors should consider short-term, high investment-grade debt securities in a rising rate environment to hedge risks associated with higher rates and any potential volatility in markets when rates do rise. However, VGSH has some utility in the current environment. VGSH “tracks a short-term Treasury bond index, resulting in a portfolio carrying very little interest-rate and credit risk,” said Morningstar in a Friday note . “Risk and return are highly correlated in the fixed-income market, so this fund will not generate mouthwatering results, but it will deliver consistent returns and provide strong downside protection. Since its inception in November 2009, its standard deviation was over 2 percentage points less than the Bloomberg Barclays US Aggregate Bond Market index and nearly 12 percentage points less than the S&P 500.” Cost-Effective Bet As is the case with so many Vanguard ETF, VGSH is a category leader in terms of costs. The fund charges just 0.07% per year or $7 on a $10,000 investment. The Vanguard fund has a duration of less than two years and follows the Bloomberg Barclays U.S. Treasury 1-3 Year Index. “The Treasury market is highly efficient and liquid, reflecting the market’s inflation and interest-rate expectations,” according to Morningstar. “It is difficult for active managers to gain a durable edge and recoup their fees in this market, without also taking greater risk than this portfolio. Fees are particularly important in the short-term Treasury market, as these securities tend to have lower return potential than many other types of bonds. This fund ranks among the cheapest in its category, which should provide it with a solid edge over more-expensive alternatives.” The research firm has a Silver rating on VGSH, the second-highest rating it places on ETFs. For more information on U.S. government debt, visit our Treasury Bonds category . Story continues POPULAR ARTICLES AND RESOURCES FROM ETFTRENDS.COM SPY ETF Quote VOO ETF Quote QQQ ETF Quote VTI ETF Quote JNUG ETF Quote Top 34 Gold ETFs Top 34 Oil ETFs Top 57 Financials ETFs Bitcoin, Cryptocurrencies Tumble Over Past Week 3 ETFs to Look Into for the 5G Revolution 3 Reasons Why I See Further Upside Potential for Gold Prices Why Impeachment News Might Not Hurt Markets U.S. Markets Close in Red On Impeachment Inquiry READ MORE AT ETFTRENDS.COM > View comments || How to manage another Bitcoin crash: At the time of writing, Bitcoin is sitting well below $10,000, around $7,800. Could this be the sign of a Bitcoin crash? Even though many cryptocurrency analysts, myself included, were discussing the possibility of altcoins taking over some of Bitcoin’s market dominance, what happened was quite the opposite. After a brief moment, where altcoins did see some impressive gains, the market came crumbling down. BTC crashed over 20% and some altcoins even further. Not so much of an altcoin season, was it? Now, investors and traders worry Bitcoin will remain below $10,000 for the much of the remaining year year. Will Bitcoin recover? #bitcoin price and stock-to-flow are cointegrated. Only prediction I take from S2F model is that btc price will be >$100k before Dec 2021 (I did not calculate the exact time, but if btc is <$100k around that time, it becomes non-stationary). BTW a prediction is not a guarantee! pic.twitter.com/zbCiwCiqWG — Plan₿ (@100trillionUSD) September 21, 2019 The short answer is yes, Bitcoin should recover and break new highs. The conundrum, of course, is when. If we believe the analysis of PlanB, the analyst who applied a stock-to-flow model to Bitcoin, or other crypto-enthusiasts like Trace Mayer, who created the Mayer multiple which measures if it is a good time to buy or sell Bitcoin, we shouldn’t worry too much about short-term price-action. Instead of following doomsday scenarios or overly optimistic ones, it’s much simpler to see these crashes as opportunities to increase holdings. Why not take these opportunities to scoop more Bitcoin at a discount (aka, buying the dip), instead of worrying when it will recover? Of course, taking full advantage of a Bitcoin market crash requires solid planning, strategy and a set of conditions to be met. Story continues What to do during a Bitcoin crash? Prices the media declared bitcoin dead: Wired at $2 Forbes at $15 Bloomberg at $93 NY Mag at $105 Slate $131 Biz Insider at $182 WaPo at $182 USA Today at $208 NY Times at $208 FT at $290 Guardian at $318 Reuters at $327 AOL at $332 CNN at $333 Yahoo at $479 Perspective is key. — Rhythm (@Rhythmtrader) September 24, 2019 Buying the dip refers to purchasing an asset after it has declined in price. It has different contexts depending on the situation in which it is utilised. According to Investopedia, some traders may say they are buying the dip even if an asset is in a long-term strong uptrend , in the hope the uptrend continues after the minor dip or drop. Others may use the phrase when no uptrend is present, but they believe an uptrend may occur in the future. Buying the dip may work if investors are disciplined enough to not fall into the temptation of buying at the wrong time — for instance during long bearish periods. In order for the below strategy to be effective there is, however, an important requirement. One must have cash available to make new entries when the price dips below certain thresholds. To buy the dip, investors and traders must first have enough cash at hand to make an effective purchase. However, you should always consider that price can deepen even further. Dollar cost averaging (DCA) The idea behind dollar cost averaging is simply to buy Bitcoin on a recurrent basis. Usually, advocates of the above strategy prefer to set certain days to make purchases and stick to their schedule – almost like a direct debit. Purchases are made at roughly the same hour so that the asset is always bought independently of the short-term price. This “dollar cost averaging” strategy is regarded as one of the safest, as it helps investors and traders to get less emotionally connected to their investments. It’s way easier to buy a bit of something every week than a lot of something in a single transaction. If you apply an aggressive DCA strategy to the periods Bitcoin crashes, by having cash available at hand, it’s possible to make steady hourly or daily purchases not worrying about Bitcoin short-term fluctuations. To keep on top of the Bitcoin market and receive the latest news about what’s going on with the price, follow Coin Rivet. The post How to manage another Bitcoin crash appeared first on Coin Rivet .
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Logo, flyer, Poster, Banner, Cover, Brochure, Business card, Letterhead, Print & Brand Identity Design EXPERTS?
Please Contact me : https://t.co/l541nB7WU8 || 現在の価格は 911,420円です。前回比は6,519円(0.72%)です。 #ビットコイン #bitcoin #btc $BTCJPY via @bitFlyer #ブロックチェーン || Three Pillars Of Self Healing)
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8393.04, 8259.99, 8205.94, 8151.50, 7988.16, 8245.62, 8228.78, 8595.74, 8586.47, 8321.76
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Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 49339.18, 48905.49, 49321.65, 49546.15, 47706.12, 48960.79, 46942.22, 49058.67, 48902.40, 48829.83, 47054.98, 47166.69, 48847.03, 49327.72, 50025.38, 49944.62, 51753.41, 52633.54, 46811.13, 46091.39, 46391.42, 44883.91, 45201.46, 46063.27, 44963.07, 47092.49, 48176.35, 47783.36, 47267.52, 48278.36, 47260.22, 42843.80, 40693.68, 43574.51, 44895.10, 42839.75, 42716.59, 43208.54, 42235.73, 41034.54, 41564.36, 43790.89, 48116.94, 47711.49, 48199.95, 49112.90, 51514.81, 55361.45, 53805.98, 53967.85, 54968.22, 54771.58, 57484.79, 56041.06, 57401.10, 57321.52, 61593.95, 60892.18, 61553.62, 62026.08, 64261.99, 65992.84, 62210.17, 60692.27, 61393.62, 60930.84, 63039.82, 60363.79, 58482.39, 60622.14, 62227.96, 61888.83, 61318.96, 61004.41, 63226.40, 62970.05, 61452.23, 61125.68, 61527.48, 63326.99, 67566.83, 66971.83, 64995.23, 64949.96, 64155.94, 64469.53, 65466.84, 63557.87, 60161.25, 60368.01.
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[Bitcoin Technical Analysis for 2021-11-17]
Volume: 39178392930, RSI (14-day): 45.37, 50-day EMA: 59149.82, 200-day EMA: 48948.02
[Wider Market Context]
Gold Price: 1869.70, Gold RSI: 67.25
Oil Price: 78.36, Oil RSI: 42.08
[Recent News (last 7 days)]
HAGENS BERMAN, NATIONAL TRIAL ATTORNEYS, Encourages Marathon Digital Holdings, Inc. (MARA) Investors to Contact Firm’s Attorneys, Firm Investigating Possible Securities Law Violations: SAN FRANCISCO, Nov. 16, 2021 (GLOBE NEWSWIRE) -- Hagens Berman urges Marathon Digital Holdings, Inc.(NASDAQ: MARA)investors with significant losses tosubmit your losses now. The firm is investigating possible securities law violations and certain investors may have valuable claims.
Visit:www.hbsslaw.com/investor-fraud/MARAContact An Attorney Now:MARA@hbsslaw.com844-916-0895
Marathon Digital Holdings, Inc. (MARA) Investigation:
The investigation focuses on Marathon’s highly publicized plan to build a data management facility in Hardin, Montana to exclusively provide energy for operating Bitcoin mining servers.
On Oct. 13, 2020, Marathon announced it entered into a series of agreements with multiple parties to design and build a data center for up to 100-megawatts in Hardin, and issued 6 million restricted Marathon common shares as part of the deal “in transactions exempt from registration.”
Questions about the Hardin facility agreements came into question on Nov. 15, 2021, when Marathon announced that it and certain of its executives received a subpoena from the SEC seeking documents and communications concerning the facility. The company said, “[w]e understand the SEC may be investigating whether or not there may have been any violations of the federal securities law.”
This news sent the price of Marathon shares sharply lower on Nov. 15, 2021.
“We’re focused on investors’ losses and whether Marathon may have misled investors about the legality of funding steps taken to achieve scale in the company’s cryptocurrency mining,” said Reed Kathrein, the Hagens Berman partner leading the investigation.
If you invested in Marathon and have significant losses, or have knowledge that may assist the firm’s investigation,click here to discuss your legal rights with Hagens Berman.
Whistleblowers:Persons with non-public information regarding Marathon should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at844-916-0895or emailMARA@hbsslaw.com.
About Hagens BermanHagens Berman is a national law firm with eight offices in eight cities around the country and over eighty attorneys. The firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes is located athbsslaw.com. For the latest news visit ournewsroomor follow us on Twitter at@classactionlaw.
Contact:Reed Kathrein, 844-916-0895 || HAGENS BERMAN, NATIONAL TRIAL ATTORNEYS, Encourages Marathon Digital Holdings, Inc. (MARA) Investors to Contact Firms Attorneys, Firm Investigating Possible Securities Law Violations: SAN FRANCISCO, Nov. 16, 2021 (GLOBE NEWSWIRE) -- Hagens Berman urges Marathon Digital Holdings, Inc. (NASDAQ: MARA) investors with significant losses to submit your losses now . The firm is investigating possible securities law violations and certain investors may have valuable claims. Visit: www.hbsslaw.com/investor-fraud/MARA Contact An Attorney Now: MARA@hbsslaw.com 844-916-0895 Marathon Digital Holdings, Inc. (MARA) Investigation: The investigation focuses on Marathons highly publicized plan to build a data management facility in Hardin, Montana to exclusively provide energy for operating Bitcoin mining servers. On Oct. 13, 2020, Marathon announced it entered into a series of agreements with multiple parties to design and build a data center for up to 100-megawatts in Hardin, and issued 6 million restricted Marathon common shares as part of the deal in transactions exempt from registration. Questions about the Hardin facility agreements came into question on Nov. 15, 2021, when Marathon announced that it and certain of its executives received a subpoena from the SEC seeking documents and communications concerning the facility. The company said, [w]e understand the SEC may be investigating whether or not there may have been any violations of the federal securities law. This news sent the price of Marathon shares sharply lower on Nov. 15, 2021. Were focused on investors losses and whether Marathon may have misled investors about the legality of funding steps taken to achieve scale in the companys cryptocurrency mining, said Reed Kathrein, the Hagens Berman partner leading the investigation. If you invested in Marathon and have significant losses, or have knowledge that may assist the firms investigation, click here to discuss your legal rights with Hagens Berman . Whistleblowers: Persons with non-public information regarding Marathon should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email MARA@hbsslaw.com . Story continues About Hagens Berman Hagens Berman is a national law firm with eight offices in eight cities around the country and over eighty attorneys. The firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes is located at hbsslaw.com . For the latest news visit our newsroom or follow us on Twitter at @classactionlaw . Contact: Reed Kathrein, 844-916-0895 || Twitter CFO Shows His Reluctance to Invest Company Funds in Cryptos: Jack Dorsey, CEO of Twitter and Square Inc, is a well-known Bitcoin (BTC) and crypto advocate from a mainstream perspective.
However, its Chief Financial Officer seems to be reluctant to endorse cryptocurrencies at a business level aftersayingthat investing Twitter’s funds in digital assets “doesn’t make sense right now.”
Ned Segal pointed out some factors during an interview with The Wall Street Journal that makes him hesitant to invest in assets like Bitcoin. “We [would] have to change our investment policy and choose to own assets that are more volatile,” Segal noted.
In fact, according to the corporate strategy, Twitter’s CFO said the company prefers to allocate the company’s funds into less volatile assets such as securities.
Although the news could be negative for overallcryptos, markets are more focused on the mainstream firms’ heads thinking about the new digital economy.
Personalities like Tesla’s CEO Elon Musk and Dorsey itself had declared in the past that they hold crypto assets on their balance sheets.
Recently, Dorsey announced that Twitter is building a “crypto team” that aims to leverage the blockchain technology behind cryptos to build new products and bolster them into their business strategy. Still, Twitter’s CFO didn’t close the doors entirely to invest the company’s funds in cryptos, but he doesn’t see the need to change the current economic policies of the social media network.
But Square Inc, a payments firm, already has some crypto assets on its balance sheet, as disclosed in October by its Chief Financial Officer, Amrita Ahuja. “We’ve purchased bitcoin for our own balance sheet, which we believe not only shows that we have skin in the game…but also could provide attractive financial benefits over the long term,” Ahuja commented.
As of press time, Bitcoin keeps following the sell-off mood that hit the price overnight but with a slow pace, currently exchanging hands at around $60,414. Per on-chain metrics, $60,000 is a critical handle for buyers.
Thisarticlewas originally posted on FX Empire
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• USD/CAD Exchange Rate Prediction – The Dollar Finally Rebounds || Twitter CFO Shows His Reluctance to Invest Company Funds in Cryptos: Jack Dorsey, CEO of Twitter and Square Inc, is a well-known Bitcoin ( BTC ) and crypto advocate from a mainstream perspective. However, its Chief Financial Officer seems to be reluctant to endorse cryptocurrencies at a business level after saying that investing Twitter’s funds in digital assets “doesn’t make sense right now.” Ned Segal pointed out some factors during an interview with The Wall Street Journal that makes him hesitant to invest in assets like Bitcoin. “We [would] have to change our investment policy and choose to own assets that are more volatile,” Segal noted. Just Investing In Securities In fact, according to the corporate strategy, Twitter’s CFO said the company prefers to allocate the company’s funds into less volatile assets such as securities. Although the news could be negative for overall cryptos , markets are more focused on the mainstream firms’ heads thinking about the new digital economy. Personalities like Tesla’s CEO Elon Musk and Dorsey itself had declared in the past that they hold crypto assets on their balance sheets. Square Inc Already Joined The Crypto Bandwagon Recently, Dorsey announced that Twitter is building a “crypto team” that aims to leverage the blockchain technology behind cryptos to build new products and bolster them into their business strategy. Still, Twitter’s CFO didn’t close the doors entirely to invest the company’s funds in cryptos, but he doesn’t see the need to change the current economic policies of the social media network. But Square Inc, a payments firm, already has some crypto assets on its balance sheet, as disclosed in October by its Chief Financial Officer, Amrita Ahuja. “We’ve purchased bitcoin for our own balance sheet, which we believe not only shows that we have skin in the game…but also could provide attractive financial benefits over the long term,” Ahuja commented. As of press time, Bitcoin keeps following the sell-off mood that hit the price overnight but with a slow pace, currently exchanging hands at around $60,414. Per on-chain metrics, $60,000 is a critical handle for buyers. This article was originally posted on FX Empire More From FXEMPIRE: 5 Best Cryptocurrency ETFs to Buy Silver Price Forecast – Silver Markets Look Primed for Pull Back Houston Rockets Catch Bitcoin Fever, Ink Partnership With NYDIG Gold Price Prediction – Prices Slip on Strong Dollar Gains Crude Oil Price Forecast – Crude Oil Markets Trying to Stabilize USD/CAD Exchange Rate Prediction – The Dollar Finally Rebounds View comments || First Mover Asia: Bitcoin Plummets, Dashing Hopes of a Quick Return to Its Record High: Good morning, Here’s what’s happening this morning:
Market Moves:Crypto traders were licking their wounds – and looking for explanations – after bitcoin’s biggest single-day price decline in almost four weeks.
Technician’s Take:Short-term indicators suggest limited downside into Asian trading hours.
Catch the latest episodesofCoinDesk TVfor insightful interviews with crypto industry leaders and analysis.
Bitcoin (BTC): $60,643 -5.16%
Ether (ETH): $4,264 -6.77%
Bitcoin on Tuesday suffered its worst daily loss in almost four weeks, all but upending any near-term hopes of a return to last week’sall-time high near $69,000. The bitcoin price was down more than 5% over the past 24 hours.
“Overall, we’ve turned quite neutral after this awaited leverage washout,” the cryptocurrency trading firm QCP Capital wrote Tuesday in a market update on its Telegram channel. “We expect some gravity around this [$]60,000 level.”
In trying to explain the latest sell-off, traders cited U.S. President Joe Biden’ssigning this week of an infrastructure billcontaining a controversial cryptocurrency tax-reporting requirement, as well as a drop-off in enthusiasm after last weekend’sTaproot upgradeon the Bitcoin blockchain, the network’s first major enhancement in four years.
“There was some expectation that this would be acatalyst for a leg higherin price,” QCP Capital wrote. “The lack of reaction caused a ‘buy the rumor, sell the fact’ effect.”
The debut Tuesday of a new bitcoin futures exchange-traded fund –the VanEck Bitcoin Strategy ETF, stock ticker XBTF – did little to generate much enthusiasm.
Intraditional markets, stocks rose after a report of higher-than-expected U.S. retail sales in October, seen as an indicator that consumers remain ebullient despite thefastest inflation rate in three decades.
But there’s some speculation that higher inflation might prompt the U.S. Federal Reserve to accelerate tightening its monetary policy. Such a move could put downward pressure on investment assets considered risky, such as bitcoin and other cryptocurrencies.
“Bitcoin may continue to attract inflation hedges, but if pricing pressures trigger rapid rate-hiking action from the Fed, that could trigger a massive wave of risk aversion that would penalize cryptos,” wrote Edward Moya, senior markets analyst for the foreign-exchange broker Oanda.
Bitcoin Stabilizes Near $60K Support; Faces Resistance at $63K-65K
Bitcoin (BTC) is down about 5% over the past 24 hours after sellers became more active than buyers around the $65,000 resistance level.
The cryptocurrency was stabilizing around$60,000 supportand appeared to be oversold on intraday charts.
For now, short-term indicators suggest limited downside into Asian trading hours. For example, the relative strength index (RSI) on the four-hour chart is the most oversold since Oct. 27, which preceded a near 10% price bounce.
Still, the RSI on the daily chart was neutral as upside momentum continues to wane. This suggested intraday buyers will be quick to take profits around the $63,000-$65,000 resistance zone.
A period of consolidation could persist over the next few days before BTC establishes a stronger footing around the $60,000 support zone.
Australian New Home Sales (October MoM)
3 p.m. HKT/SGT (7 a.m. UTC): UK Consumer Price Index (Oct. YoY/MoM)
4 p.m. HKT/SGT (8 a.m. UTC): European Central Bank Stability Review
21:30 p.m. HKT/SGT (1:30 UTC): U.S. Housing Starts (Oct./MoM
In case you missed it,here are the most recent episodes of“First Mover”onCoinDesk TV:
Bitcoin Falls Below $60K as Cryptocurrencies Tumble, Barbados Ambassador Explains Why the Country Is Setting Up Embassy in the Metaverse
“First Mover” hosts spoke with Barbados Ambassador to the United Arab Emirates Gabriel Abed as the Caribbean country says it will become the first sovereign nation to set up an embassy in the metaverse. Meanwhile, bitcoin dipped below $60,000 amid more tough talk from China and negative comments from a Twitter executive. Genesis Volatility co-founder and CEO Greg Magadini shared his market insights. Plus, what’s contributing to BitGo’s rapid growth this year? BitGo CEO Mike Belshe explained.
MLB Sensation Shohei Ohtani Becomes FTX’s Newest Brand Ambassador
Twitter CFO Says Buying Crypto Assets ‘Doesn’t Make Sense Right Now’: Report
Brave Browser Launches Built-In Crypto Wallet
President Biden Signs Infrastructure Bill Containing Crypto Broker Reporting Requirement Into Law
‘I Think We’re Doing This’: Inside One DAO’s $20M Plot to Purchase the US Constitution
‘Probably Nothing’: Why People Still Hate Crypto
Bitcoin Politics From Left to Right and Off the Map
What Is Bitcoin’s Lightning Network? || First Mover Asia: Bitcoin Plummets, Dashing Hopes of a Quick Return to Its Record High: Good morning, Here’s what’s happening this morning:
Market Moves:Crypto traders were licking their wounds – and looking for explanations – after bitcoin’s biggest single-day price decline in almost four weeks.
Technician’s Take:Short-term indicators suggest limited downside into Asian trading hours.
Catch the latest episodesofCoinDesk TVfor insightful interviews with crypto industry leaders and analysis.
Bitcoin (BTC): $60,643 -5.16%
Ether (ETH): $4,264 -6.77%
Bitcoin on Tuesday suffered its worst daily loss in almost four weeks, all but upending any near-term hopes of a return to last week’sall-time high near $69,000. The bitcoin price was down more than 5% over the past 24 hours.
“Overall, we’ve turned quite neutral after this awaited leverage washout,” the cryptocurrency trading firm QCP Capital wrote Tuesday in a market update on its Telegram channel. “We expect some gravity around this [$]60,000 level.”
In trying to explain the latest sell-off, traders cited U.S. President Joe Biden’ssigning this week of an infrastructure billcontaining a controversial cryptocurrency tax-reporting requirement, as well as a drop-off in enthusiasm after last weekend’sTaproot upgradeon the Bitcoin blockchain, the network’s first major enhancement in four years.
“There was some expectation that this would be acatalyst for a leg higherin price,” QCP Capital wrote. “The lack of reaction caused a ‘buy the rumor, sell the fact’ effect.”
The debut Tuesday of a new bitcoin futures exchange-traded fund –the VanEck Bitcoin Strategy ETF, stock ticker XBTF – did little to generate much enthusiasm.
Intraditional markets, stocks rose after a report of higher-than-expected U.S. retail sales in October, seen as an indicator that consumers remain ebullient despite thefastest inflation rate in three decades.
But there’s some speculation that higher inflation might prompt the U.S. Federal Reserve to accelerate tightening its monetary policy. Such a move could put downward pressure on investment assets considered risky, such as bitcoin and other cryptocurrencies.
“Bitcoin may continue to attract inflation hedges, but if pricing pressures trigger rapid rate-hiking action from the Fed, that could trigger a massive wave of risk aversion that would penalize cryptos,” wrote Edward Moya, senior markets analyst for the foreign-exchange broker Oanda.
Bitcoin Stabilizes Near $60K Support; Faces Resistance at $63K-65K
Bitcoin (BTC) is down about 5% over the past 24 hours after sellers became more active than buyers around the $65,000 resistance level.
The cryptocurrency was stabilizing around$60,000 supportand appeared to be oversold on intraday charts.
For now, short-term indicators suggest limited downside into Asian trading hours. For example, the relative strength index (RSI) on the four-hour chart is the most oversold since Oct. 27, which preceded a near 10% price bounce.
Still, the RSI on the daily chart was neutral as upside momentum continues to wane. This suggested intraday buyers will be quick to take profits around the $63,000-$65,000 resistance zone.
A period of consolidation could persist over the next few days before BTC establishes a stronger footing around the $60,000 support zone.
Australian New Home Sales (October MoM)
3 p.m. HKT/SGT (7 a.m. UTC): UK Consumer Price Index (Oct. YoY/MoM)
4 p.m. HKT/SGT (8 a.m. UTC): European Central Bank Stability Review
21:30 p.m. HKT/SGT (1:30 UTC): U.S. Housing Starts (Oct./MoM
In case you missed it,here are the most recent episodes of“First Mover”onCoinDesk TV:
Bitcoin Falls Below $60K as Cryptocurrencies Tumble, Barbados Ambassador Explains Why the Country Is Setting Up Embassy in the Metaverse
“First Mover” hosts spoke with Barbados Ambassador to the United Arab Emirates Gabriel Abed as the Caribbean country says it will become the first sovereign nation to set up an embassy in the metaverse. Meanwhile, bitcoin dipped below $60,000 amid more tough talk from China and negative comments from a Twitter executive. Genesis Volatility co-founder and CEO Greg Magadini shared his market insights. Plus, what’s contributing to BitGo’s rapid growth this year? BitGo CEO Mike Belshe explained.
MLB Sensation Shohei Ohtani Becomes FTX’s Newest Brand Ambassador
Twitter CFO Says Buying Crypto Assets ‘Doesn’t Make Sense Right Now’: Report
Brave Browser Launches Built-In Crypto Wallet
President Biden Signs Infrastructure Bill Containing Crypto Broker Reporting Requirement Into Law
‘I Think We’re Doing This’: Inside One DAO’s $20M Plot to Purchase the US Constitution
‘Probably Nothing’: Why People Still Hate Crypto
Bitcoin Politics From Left to Right and Off the Map
What Is Bitcoin’s Lightning Network? || First Mover Asia: Bitcoin Plummets, Dashing Hopes of a Quick Return to Its Record High: Good morning, Here’s what’s happening this morning: Market Moves: Crypto traders were licking their wounds – and looking for explanations – after bitcoin’s biggest single-day price decline in almost four weeks. Technician’s Take: Short-term indicators suggest limited downside into Asian trading hours. Catch the latest episodes of CoinDesk TV for insightful interviews with crypto industry leaders and analysis. Prices Bitcoin ( BTC ): $60,643 -5.16% Ether ( ETH ): $4,264 -6.77% Market moves Bitcoin on Tuesday suffered its worst daily loss in almost four weeks, all but upending any near-term hopes of a return to last week’s all-time high near $69,000 . The bitcoin price was down more than 5% over the past 24 hours. “Overall, we’ve turned quite neutral after this awaited leverage washout,” the cryptocurrency trading firm QCP Capital wrote Tuesday in a market update on its Telegram channel. “We expect some gravity around this [$]60,000 level.” In trying to explain the latest sell-off, traders cited U.S. President Joe Biden’s signing this week of an infrastructure bill containing a controversial cryptocurrency tax-reporting requirement, as well as a drop-off in enthusiasm after last weekend’s Taproot upgrade on the Bitcoin blockchain, the network’s first major enhancement in four years. “There was some expectation that this would be a catalyst for a leg higher in price,” QCP Capital wrote. “The lack of reaction caused a ‘buy the rumor, sell the fact’ effect.” The debut Tuesday of a new bitcoin futures exchange-traded fund – the VanEck Bitcoin Strategy ETF , stock ticker XBTF – did little to generate much enthusiasm. In traditional markets , stocks rose after a report of higher-than-expected U.S. retail sales in October, seen as an indicator that consumers remain ebullient despite the fastest inflation rate in three decades . But there’s some speculation that higher inflation might prompt the U.S. Federal Reserve to accelerate tightening its monetary policy. Such a move could put downward pressure on investment assets considered risky, such as bitcoin and other cryptocurrencies. Story continues “Bitcoin may continue to attract inflation hedges, but if pricing pressures trigger rapid rate-hiking action from the Fed, that could trigger a massive wave of risk aversion that would penalize cryptos,” wrote Edward Moya, senior markets analyst for the foreign-exchange broker Oanda. Technician’s take Bitcoin Stabilizes Near $60K Support; Faces Resistance at $63K-65K Bitcoin four-hour price chart (Damanick Dantes/CoinDesk, TradingView) Bitcoin (BTC) is down about 5% over the past 24 hours after sellers became more active than buyers around the $65,000 resistance level. The cryptocurrency was stabilizing around $60,000 support and appeared to be oversold on intraday charts. For now, short-term indicators suggest limited downside into Asian trading hours. For example, the relative strength index ( RSI ) on the four-hour chart is the most oversold since Oct. 27, which preceded a near 10% price bounce. Still, the RSI on the daily chart was neutral as upside momentum continues to wane. This suggested intraday buyers will be quick to take profits around the $63,000-$65,000 resistance zone. A period of consolidation could persist over the next few days before BTC establishes a stronger footing around the $60,000 support zone. Important events Australian New Home Sales (October MoM) 3 p.m. HKT/SGT (7 a.m. UTC): UK Consumer Price Index (Oct. YoY/MoM) 4 p.m. HKT/SGT (8 a.m. UTC): European Central Bank Stability Review 21:30 p.m. HKT/SGT (1:30 UTC): U.S. Housing Starts (Oct./MoM On CoinDesk TV In case you missed it, here are the most recent episodes of “First Mover” on CoinDesk TV : Bitcoin Falls Below $60K as Cryptocurrencies Tumble, Barbados Ambassador Explains Why the Country Is Setting Up Embassy in the Metaverse “First Mover” hosts spoke with Barbados Ambassador to the United Arab Emirates Gabriel Abed as the Caribbean country says it will become the first sovereign nation to set up an embassy in the metaverse. Meanwhile, bitcoin dipped below $60,000 amid more tough talk from China and negative comments from a Twitter executive. Genesis Volatility co-founder and CEO Greg Magadini shared his market insights. Plus, what’s contributing to BitGo’s rapid growth this year? BitGo CEO Mike Belshe explained. Latest headlines MLB Sensation Shohei Ohtani Becomes FTX’s Newest Brand Ambassador Twitter CFO Says Buying Crypto Assets ‘Doesn’t Make Sense Right Now’: Report Brave Browser Launches Built-In Crypto Wallet President Biden Signs Infrastructure Bill Containing Crypto Broker Reporting Requirement Into Law ‘I Think We’re Doing This’: Inside One DAO’s $20M Plot to Purchase the US Constitution Longer Reads ‘Probably Nothing’: Why People Still Hate Crypto Bitcoin Politics From Left to Right and Off the Map What Is Bitcoin’s Lightning Network? || Houston Rockets Catch Bitcoin Fever, Ink Partnership With NYDIG: Mark Cuban is not the NBA’s only bitcoin bull. Houston Rockets owner Tilman Fertitta is also on the bitcoin bandwagon. Fertitta, another billionaire, is at the helm of Fertitta Entertainment, which in addition to the Rockets owns the bitcoin-friendly restaurant Landry’s.
Now the NBA’s Houston Rockets team has partnered with bitcoin platform NYDIG to help bring BTC to the masses. NYDIGhas a missionof “bringing bitcoin to Main Street,” which it does through technology and financial products. Fertitta recently tweeted about NYDIG and bitcoin, saying, “Don’t be a dinosaur.”
The NBA is no stranger to crypto. Mark Cuban’s team, the Dallas Mavericks, was an early mover to accept payments inbitcoinandDogecoin. The league is behind packs of digital collectibles known as Top Shot, which places the NBA in the white hot NFT market.
The Rockets will be paid for the sponsorship deal in bitcoin, the proceeds of which will be held on the NYDIG platform. By holding onto the bitcoin, the team is setting the example for the league and beyond that it is not necessary to convert crypto to fiat money. Rockets President of Business Operations Gretchen Sheirr stated,
“Partnering with NYDIG allows us to leverage the growth of Bitcoin to provide creative rewards and payment options to our fanbase and associates.”
The collaboration will catapult bitcoin to the forefront in the city of Houston, where Rockets fans will be given an opportunity to be educated about and use bitcoin. The Houston Rockets Twitter account has more than 3 million followers, and the team’s arena has been known to hold over 18,000 ticketholders at a time.
If the team’s name is any indication, the Houston Rockets should be able to handle bitcoin’s volatility just fine. After recently touching on a fresh all-time high of over $68,000, the bitcoin price dipped below $60,000 today. Market leaders expect it will be only a matter of time before it resumes its bullish trajectory.
While the price might be taking a breather,crypto analysts believeit is the calm before the storm. And there are numerous catalysts. For example, bitcoin futures ETFs have finally hit the market. And bitcoin recently underwent a major upgradecalled Taprootthat is expected to result in lower fees, greater security and more privacy on the network.
Price targets for the bitcoin price from high-profile traders and influencers are in the range of $100,000 by year end.
Thisarticlewas originally posted on FX Empire
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• E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis – Reaction to 16172.50 Sets Wednesday’s Early Tone || Houston Rockets Catch Bitcoin Fever, Ink Partnership With NYDIG: Mark Cuban is not the NBAs only bitcoin bull. Houston Rockets owner Tilman Fertitta is also on the bitcoin bandwagon. Fertitta, another billionaire, is at the helm of Fertitta Entertainment, which in addition to the Rockets owns the bitcoin-friendly restaurant Landrys. Now the NBAs Houston Rockets team has partnered with bitcoin platform NYDIG to help bring BTC to the masses. NYDIG has a mission of bringing bitcoin to Main Street, which it does through technology and financial products. Fertitta recently tweeted about NYDIG and bitcoin, saying, Dont be a dinosaur. Dont be a dinosaur. #bitcoin #bitcoinforall #changechangechange https://t.co/J6HMAkudM8 Tilman Fertitta (@TilmanJFertitta) October 29, 2021 The NBA is no stranger to crypto. Mark Cubans team, the Dallas Mavericks, was an early mover to accept payments in bitcoin and Dogecoin . The league is behind packs of digital collectibles known as Top Shot, which places the NBA in the white hot NFT market. Holding Bitcoin The Rockets will be paid for the sponsorship deal in bitcoin, the proceeds of which will be held on the NYDIG platform. By holding onto the bitcoin, the team is setting the example for the league and beyond that it is not necessary to convert crypto to fiat money. Rockets President of Business Operations Gretchen Sheirr stated, Partnering with NYDIG allows us to leverage the growth of Bitcoin to provide creative rewards and payment options to our fanbase and associates. The collaboration will catapult bitcoin to the forefront in the city of Houston, where Rockets fans will be given an opportunity to be educated about and use bitcoin. The Houston Rockets Twitter account has more than 3 million followers, and the teams arena has been known to hold over 18,000 ticketholders at a time. Story continues As the Official #Bitcoin Platform of the @HoustonRockets , we'll be working with the franchise to grow the Bitcoin network through access, educational programs, and community support initiatives. For more information: https://t.co/6d44YBPySk pic.twitter.com/1i2j9n6JF9 NYDIG (@NYDIG_BTC) November 16, 2021 Bitcoin Catalysts If the teams name is any indication, the Houston Rockets should be able to handle bitcoins volatility just fine. After recently touching on a fresh all-time high of over $68,000, the bitcoin price dipped below $60,000 today. Market leaders expect it will be only a matter of time before it resumes its bullish trajectory. While the price might be taking a breather, crypto analysts believe it is the calm before the storm. And there are numerous catalysts. For example, bitcoin futures ETFs have finally hit the market. And bitcoin recently underwent a major upgrade called Taproot that is expected to result in lower fees, greater security and more privacy on the network. Price targets for the bitcoin price from high-profile traders and influencers are in the range of $100,000 by year end. This article was originally posted on FX Empire More From FXEMPIRE: Crude Oil Price Forecast Crude Oil Markets Trying to Stabilize Gold Price Prediction Prices Slip on Strong Dollar Gains European Equities: Eurozone Inflation and Central Bank Chatter in Focus Shiba Inu Coin Daily Tech Analysis November 17th, 2021 Inflation Puts the EUR, the Pound, and the Loonie in Focus E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis Reaction to 16172.50 Sets Wednesdays Early Tone || Houston Rockets Catch Bitcoin Fever, Ink Partnership With NYDIG: Mark Cuban is not the NBA’s only bitcoin bull. Houston Rockets owner Tilman Fertitta is also on the bitcoin bandwagon. Fertitta, another billionaire, is at the helm of Fertitta Entertainment, which in addition to the Rockets owns the bitcoin-friendly restaurant Landry’s.
Now the NBA’s Houston Rockets team has partnered with bitcoin platform NYDIG to help bring BTC to the masses. NYDIGhas a missionof “bringing bitcoin to Main Street,” which it does through technology and financial products. Fertitta recently tweeted about NYDIG and bitcoin, saying, “Don’t be a dinosaur.”
The NBA is no stranger to crypto. Mark Cuban’s team, the Dallas Mavericks, was an early mover to accept payments inbitcoinandDogecoin. The league is behind packs of digital collectibles known as Top Shot, which places the NBA in the white hot NFT market.
The Rockets will be paid for the sponsorship deal in bitcoin, the proceeds of which will be held on the NYDIG platform. By holding onto the bitcoin, the team is setting the example for the league and beyond that it is not necessary to convert crypto to fiat money. Rockets President of Business Operations Gretchen Sheirr stated,
“Partnering with NYDIG allows us to leverage the growth of Bitcoin to provide creative rewards and payment options to our fanbase and associates.”
The collaboration will catapult bitcoin to the forefront in the city of Houston, where Rockets fans will be given an opportunity to be educated about and use bitcoin. The Houston Rockets Twitter account has more than 3 million followers, and the team’s arena has been known to hold over 18,000 ticketholders at a time.
If the team’s name is any indication, the Houston Rockets should be able to handle bitcoin’s volatility just fine. After recently touching on a fresh all-time high of over $68,000, the bitcoin price dipped below $60,000 today. Market leaders expect it will be only a matter of time before it resumes its bullish trajectory.
While the price might be taking a breather,crypto analysts believeit is the calm before the storm. And there are numerous catalysts. For example, bitcoin futures ETFs have finally hit the market. And bitcoin recently underwent a major upgradecalled Taprootthat is expected to result in lower fees, greater security and more privacy on the network.
Price targets for the bitcoin price from high-profile traders and influencers are in the range of $100,000 by year end.
Thisarticlewas originally posted on FX Empire
• Crude Oil Price Forecast – Crude Oil Markets Trying to Stabilize
• Gold Price Prediction – Prices Slip on Strong Dollar Gains
• European Equities: Eurozone Inflation and Central Bank Chatter in Focus
• Shiba Inu Coin – Daily Tech Analysis – November 17th, 2021
• Inflation Puts the EUR, the Pound, and the Loonie in Focus
• E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis – Reaction to 16172.50 Sets Wednesday’s Early Tone || Exodus Reports Third Quarter 2021 Results: Reports YTD Revenue of $69.4 million, an increase of 407% over the prior year
OMAHA, Neb., Nov. 16, 2021 (GLOBE NEWSWIRE) --Exodus Movement, Inc.(tZERO ATS: EXOD), (“the Company” or “Exodus”) the leading non-custodial cryptocurrency software platform, today announced its fiscal 2021 results for the third quarter ended September 30, 2021. The Company reported third quarter revenue of $18.1 million, an increase of 155% year-over-year, and quarterly earnings of $0.32 per diluted share.
Third Quarter 2021 Financial Highlights
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“We made history in the third quarter with the launch of Exodus shares on the tZERO marketplace,” said JP Richardson, CEO and co-founder of Exodus. “We are the first to digitally represent our common stock on the blockchain and make it available for public investment. This important step aligned with the ethos of Exodus; we envision a future where you have control over your assets and stocks, and in the third quarter, we brought this vision to life.”
“The third quarter and year-to-date financial results reflect the power of beautifully designed software that allows users to experience crypto all-in-one place. YTD total revenues have more than tripled our 2020 full year results and we continue to add users as we improve and add functionality to our platform. We are building Exodus as the go-to platform for experiencing all that decentralized finance has to offer, supported by world-class customer service.”
Third Quarter Operational and Other Financial Highlights
• Exchange provider processed volume -$1.0 billion, up 206% from Q3 2020. Bitcoin and Ethereum continue to be the top assets traded at 19% and 14% of volume, respectively.
• Exodus monthly active users1-902,986, up 240% from 265,377 in Q3 2020.
• Adjusted EBITDA2-$6.8 million, up 106% from $3.3 million in Q3 2020.
• Digital assets and cash -$128.7 million, including $57.5 million in bitcoin and $50.4 million in U.S. Dollar Coin as of September 30, 2021.
• Full-time equivalent employees -200, an increase from 176 at Q2 end.
• Customer response time -median response time of less than 10 minutes.
“Our financial and operating results continue to eclipse prior year results,” said James Gernetzke, CFO of Exodus. “Though we did see a softening in total exchange volume with the downturn in crypto markets early in the third quarter, we witnessed a rebound in exchange activity in September that has continued through October. Exodus headed into the fourth quarter with strong momentum, and we are on-track to deliver over $90 million in total revenue this year.”
“As recently announced, we are initiating a $2 million share repurchase program. We expect to repurchase shares in the open market at a price of up to $55 per share. We continue to invest aggressively in our growth projects, and given our well-funded balance sheet, now is the right time to return value to shareholders in the form of a buyback.”
Live Webcast Details
Exodus will provide a live webcast of its third quarter 2021 fiscal results beginning at 4 p.m. EST on November 17, 2021 atwww.exodus.com. Investors may also access the live webcastby using this link.
Questions for Exodus Management related to the third quarter can be submitted via e-mail atinvestors@exodus.comin advance of the live webcast.
Contact
Customer Supportsupport@exodus.com
PressRyan DennisRyan.Dennis@exodus.com+1 (727) 697-7626
Exodusexodus@5wpr.com
Investor RelationsAllysa Howellinvestors@exodus.com+1 (720) 484-1147
About Exodus
Exodus is on a mission to empower half the world to exit the traditional finance system by 2030. Founded in 2015, Exodus is a multi-asset software wallet that removes the geek requirement and keeps design a priority to make cryptocurrency and digital assets easy for everyone. Available for desktop and mobile, Exodus allows users to secure, manage and exchange cryptocurrencies like Bitcoin, Ethereum, and more across an industry-leading 10,000+ asset pairs from a beautiful, easy-to-use wallet. The non-custodial functionality is encrypted locally on users' own devices, ensuring privacy, security and complete control over their wealth. For more info visit exodus.com.
Disclosure Information
Exodus uses the following as means of disclosing material nonpublic information and for complying with disclosure obligations under Regulation FD: websites exodus.com/investors and exodus.com/blog; press releases; public videos, calls and webcasts; and social media: Twitter (@exodus_io and JP Richardson's feed @jprichardson), Facebook, LinkedIn, and YouTube.
Non-GAAP Financial Measure
Earnings before interest, taxes and depreciation and amortization and Adjusted earnings before interest, taxes and depreciation and amortization
In addition to our results determined in accordance with U.S. generally accepted accounting principles (GAAP), we believe Adjusted EBITDA, a non-GAAP measure, is useful in evaluating our operating performance. We use Adjusted EBITDA to evaluate our ongoing operations and for internal planning and forecasting purposes. We believe that Adjusted EBITDA may be helpful to investors because it provides consistency and comparability with past financial performance. However, Adjusted EBITDA is presented for supplemental informational purposes only, has limitations as an analytical tool, and should not be considered in isolation or as a substitute for financial information presented in accordance with GAAP. In addition, other companies, including companies in our industry, may calculate similarly titled non-GAAP measures, including Adjusted EBITDA, differently or may use other measures to evaluate their performance, all of which could reduce the usefulness of our non-GAAP financial measures as tools for comparison.
A reconciliation of Adjusted EBITDA to net income can be found below in the table captioned “Reconciliation of Net Income to Adjusted EBITDA.” Investors are encouraged to review the related GAAP financial measures and the reconciliation of Adjusted EBITDA to its most directly comparable GAAP financial measure, and not to rely on any single financial measure to evaluate our business. We calculate Adjusted EBITDA as net income, adjusted to exclude provision for or benefit from income taxes, depreciation and amortization, interest expense, crypto asset borrowing costs, stock-based compensation expense, impairment, unrealized gain or loss on foreign exchange, fair value gain or loss on derivatives, non-recurring legal reserves and related costs, and other loss, net.
The Company believes that Adjusted EBITDA provides useful information to investors and others in understanding and evaluating our operating results in the same manner as our management and Board of Directors. Management’s determination of the components of Adjusted EBITDA are evaluated periodically and based, in part, on a review of non-GAAP financial measures used by industry analysts. Net income (loss) attributable to Exodus stockholders is reconciled to EBITDA and Adjusted EBITDA as follows:
Reconciliation of Net Income to Adjusted EBITDA
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Forward-Looking Statements
This communication contains forward-looking statements that are based on our beliefs and assumptions and on information currently available to us as of the date hereof. In some cases, you can identify forward-looking statements by the following words: "will," "expect," "would," "intend," "believe," or other comparable terminology. Forward-looking statements in this document include, but are not limited to, quotations from management regarding confidence in our products, services, business trajectory and plans, certain business metrics, including anticipated revenues and net income for the year and, in particular, through the third quarter of 2021, and the timing, means and amount of anticipated stock repurchases. These statements involve risks, uncertainties, assumptions and other factors that are difficult to predict and may cause actual results or performance to be materially and adversely different.
Factors that might cause such a difference include, but are not limited to:
• the impact of the COVID-19 pandemic on the health and safety of our employees, users, as well as the physical and economic impacts of the various recommendations, orders, and protocols issued by local and national governmental agencies in light of continual evolution of the pandemic, including any periodic reimplementation of preventative measures in various global locations;
• difficulties predicting user behavior and changes in user spending habits as a result of, among other things, prevailing economic conditions, levels of employment, salaries and wages, inflation and consumer confidence, particularly in light of the pandemic and as pandemic-related restrictions are eased regionally and globally;
• unexpected or rapid changes in the growth or decline of our domestic and/or international markets;
• increasing competition from existing and new competitors;
• rapidly evolving and groundbreaking advances that fundamentally alter the digital asset and cryptocurrency industry;
• continued compliance with regulatory requirements;
• volatility in the price of cryptocurrencies, such as Bitcoin, and other digital assets;
• the possibility that the development and release of new products or enhancements to existing products do not proceed in accordance with the anticipated timeline or may themselves contain bugs or errors requiring remediation and that the market for the sale of these new or enhanced products may not develop as expected;
• the risks relating to our ability to sustain or increase profitability or revenue growth in future periods (or minimize declines) while controlling expenses;
• the compromise of user data for any reason;
• foreign operational, political and other risks relating to our operations; and
• the loss of key personnel, labor shortages or work stoppages.
More information on the factors, risks and uncertainties that could cause or contribute to such differences is included in our filings with the Securities and Exchange Commission, including in the "Risk Factors" and "Management's Discussion & Analysis" sections of our offering statement on Form 1-A. We cannot assure you that the forward-looking statements will prove to be accurate. These forward-looking statements speak only as of the date hereof. We disclaim any obligation to update these forward-looking statements.
1Monthly active users as of September 30, 2021.2Non-GAAP metric.Seefootnotes at the end of this release. || Exodus Reports Third Quarter 2021 Results: Reports YTD Revenue of $69.4 million, an increase of 407% over the prior year OMAHA, Neb., Nov. 16, 2021 (GLOBE NEWSWIRE) -- Exodus Movement, Inc. (tZERO ATS: EXOD), (“the Company” or “Exodus”) the leading non-custodial cryptocurrency software platform, today announced its fiscal 2021 results for the third quarter ended September 30, 2021. The Company reported third quarter revenue of $18.1 million, an increase of 155% year-over-year, and quarterly earnings of $0.32 per diluted share. Third Quarter 2021 Financial Highlights In USD millions, except percentages and per share amounts Q3 2021 Q3 2020 % Change YTD 2021 YTD 2020 % Change Total Revenue 18.1 7.1 155 % 69.4 13.7 407 % Total Cost of Revenues 6.9 2.0 245 % 16.4 6.3 162 % Operating Expenses 4.7 1.8 163 % 16.3 3.7 345 % Income from Operations 6.5 3.3 97 % 36.6 3.8 875 % Operating Margin 36 % 47 % 53 % 27 % Net Income 9.2 3.1 29.7 4.2 Diluted Earnings Per Share $ 0.32 $ 0.14 $ 1.10 $ 0.20 “We made history in the third quarter with the launch of Exodus shares on the tZERO marketplace,” said JP Richardson, CEO and co-founder of Exodus. “We are the first to digitally represent our common stock on the blockchain and make it available for public investment. This important step aligned with the ethos of Exodus; we envision a future where you have control over your assets and stocks, and in the third quarter, we brought this vision to life.” “The third quarter and year-to-date financial results reflect the power of beautifully designed software that allows users to experience crypto all-in-one place. YTD total revenues have more than tripled our 2020 full year results and we continue to add users as we improve and add functionality to our platform. We are building Exodus as the go-to platform for experiencing all that decentralized finance has to offer, supported by world-class customer service.” Third Quarter Operational and Other Financial Highlights Exchange provider processed volume - $1.0 billion, up 206% from Q3 2020. Bitcoin and Ethereum continue to be the top assets traded at 19% and 14% of volume, respectively. Exodus monthly active users 1 - 902,986, up 240% from 265,377 in Q3 2020. Adjusted EBITDA 2 - $6.8 million, up 106% from $3.3 million in Q3 2020. Digital assets and cash - $128.7 million, including $57.5 million in bitcoin and $50.4 million in U.S. Dollar Coin as of September 30, 2021. Full-time equivalent employees - 200, an increase from 176 at Q2 end. Customer response time - median response time of less than 10 minutes. Story continues “Our financial and operating results continue to eclipse prior year results,” said James Gernetzke, CFO of Exodus. “Though we did see a softening in total exchange volume with the downturn in crypto markets early in the third quarter, we witnessed a rebound in exchange activity in September that has continued through October. Exodus headed into the fourth quarter with strong momentum, and we are on-track to deliver over $90 million in total revenue this year.” “As recently announced, we are initiating a $2 million share repurchase program. We expect to repurchase shares in the open market at a price of up to $55 per share. We continue to invest aggressively in our growth projects, and given our well-funded balance sheet, now is the right time to return value to shareholders in the form of a buyback.” Live Webcast Details Exodus will provide a live webcast of its third quarter 2021 fiscal results beginning at 4 p.m. EST on November 17, 2021 at www.exodus.com . Investors may also access the live webcast by using this link . Questions for Exodus Management related to the third quarter can be submitted via e-mail at investors@exodus.com in advance of the live webcast. Contact Customer Support support@exodus.com Press Ryan Dennis Ryan.Dennis@exodus.com +1 (727) 697-7626 Exodus exodus@5wpr.com Investor Relations Allysa Howell investors@exodus.com +1 (720) 484-1147 About Exodus Exodus is on a mission to empower half the world to exit the traditional finance system by 2030. Founded in 2015, Exodus is a multi-asset software wallet that removes the geek requirement and keeps design a priority to make cryptocurrency and digital assets easy for everyone. Available for desktop and mobile, Exodus allows users to secure, manage and exchange cryptocurrencies like Bitcoin, Ethereum, and more across an industry-leading 10,000+ asset pairs from a beautiful, easy-to-use wallet. The non-custodial functionality is encrypted locally on users' own devices, ensuring privacy, security and complete control over their wealth. For more info visit exodus.com. Disclosure Information Exodus uses the following as means of disclosing material nonpublic information and for complying with disclosure obligations under Regulation FD: websites exodus.com/investors and exodus.com/blog; press releases; public videos, calls and webcasts; and social media: Twitter (@exodus_io and JP Richardson's feed @jprichardson), Facebook, LinkedIn, and YouTube. Non-GAAP Financial Measure Earnings before interest, taxes and depreciation and amortization and Adjusted earnings before interest, taxes and depreciation and amortization In addition to our results determined in accordance with U.S. generally accepted accounting principles (GAAP), we believe Adjusted EBITDA, a non-GAAP measure, is useful in evaluating our operating performance. We use Adjusted EBITDA to evaluate our ongoing operations and for internal planning and forecasting purposes. We believe that Adjusted EBITDA may be helpful to investors because it provides consistency and comparability with past financial performance. However, Adjusted EBITDA is presented for supplemental informational purposes only, has limitations as an analytical tool, and should not be considered in isolation or as a substitute for financial information presented in accordance with GAAP. In addition, other companies, including companies in our industry, may calculate similarly titled non-GAAP measures, including Adjusted EBITDA, differently or may use other measures to evaluate their performance, all of which could reduce the usefulness of our non-GAAP financial measures as tools for comparison. A reconciliation of Adjusted EBITDA to net income can be found below in the table captioned “Reconciliation of Net Income to Adjusted EBITDA.” Investors are encouraged to review the related GAAP financial measures and the reconciliation of Adjusted EBITDA to its most directly comparable GAAP financial measure, and not to rely on any single financial measure to evaluate our business. We calculate Adjusted EBITDA as net income, adjusted to exclude provision for or benefit from income taxes, depreciation and amortization, interest expense, crypto asset borrowing costs, stock-based compensation expense, impairment, unrealized gain or loss on foreign exchange, fair value gain or loss on derivatives, non-recurring legal reserves and related costs, and other loss, net. The Company believes that Adjusted EBITDA provides useful information to investors and others in understanding and evaluating our operating results in the same manner as our management and Board of Directors. Management’s determination of the components of Adjusted EBITDA are evaluated periodically and based, in part, on a review of non-GAAP financial measures used by industry analysts. Net income (loss) attributable to Exodus stockholders is reconciled to EBITDA and Adjusted EBITDA as follows: Reconciliation of Net Income to Adjusted EBITDA In USD millions 3Q21 2Q21 3Q20 Net income $ 9.2 $ 5.8 $ 3.1 Income tax expense / (benefit) 1.8 0.7 (0.3 ) Interest expense - - - Interest income - (0.2 ) - Depreciation and Amortization 0.2 0.2 0.5 EBITDA $ 11.2 $ 6.5 $ 3.3 Gain on digital assets (10.0 ) (3.6 ) (0.1 ) Impairment of digital assets 5.4 11.6 0.1 Stock-based compensation 0.2 - - Adjusted EBITDA $ 6.8 $ 14.5 $ 3.3 Forward-Looking Statements This communication contains forward-looking statements that are based on our beliefs and assumptions and on information currently available to us as of the date hereof. In some cases, you can identify forward-looking statements by the following words: "will," "expect," "would," "intend," "believe," or other comparable terminology. Forward-looking statements in this document include, but are not limited to, quotations from management regarding confidence in our products, services, business trajectory and plans, certain business metrics, including anticipated revenues and net income for the year and, in particular, through the third quarter of 2021, and the timing, means and amount of anticipated stock repurchases. These statements involve risks, uncertainties, assumptions and other factors that are difficult to predict and may cause actual results or performance to be materially and adversely different. Factors that might cause such a difference include, but are not limited to: the impact of the COVID-19 pandemic on the health and safety of our employees, users, as well as the physical and economic impacts of the various recommendations, orders, and protocols issued by local and national governmental agencies in light of continual evolution of the pandemic, including any periodic reimplementation of preventative measures in various global locations; difficulties predicting user behavior and changes in user spending habits as a result of, among other things, prevailing economic conditions, levels of employment, salaries and wages, inflation and consumer confidence, particularly in light of the pandemic and as pandemic-related restrictions are eased regionally and globally; unexpected or rapid changes in the growth or decline of our domestic and/or international markets; increasing competition from existing and new competitors; rapidly evolving and groundbreaking advances that fundamentally alter the digital asset and cryptocurrency industry; continued compliance with regulatory requirements; volatility in the price of cryptocurrencies, such as Bitcoin, and other digital assets; the possibility that the development and release of new products or enhancements to existing products do not proceed in accordance with the anticipated timeline or may themselves contain bugs or errors requiring remediation and that the market for the sale of these new or enhanced products may not develop as expected; the risks relating to our ability to sustain or increase profitability or revenue growth in future periods (or minimize declines) while controlling expenses; the compromise of user data for any reason; foreign operational, political and other risks relating to our operations; and the loss of key personnel, labor shortages or work stoppages. More information on the factors, risks and uncertainties that could cause or contribute to such differences is included in our filings with the Securities and Exchange Commission, including in the "Risk Factors" and "Management's Discussion & Analysis" sections of our offering statement on Form 1-A. We cannot assure you that the forward-looking statements will prove to be accurate. These forward-looking statements speak only as of the date hereof. We disclaim any obligation to update these forward-looking statements. 1 Monthly active users as of September 30, 2021. 2 Non-GAAP metric. See footnotes at the end of this release. || Crypto Mining for Digital Gold is Turning Green: This article was originally published onETFTrends.com.
Originally published by Alerian on October 14, 2021 in the Thematic Times.
In anearlier note,Alerian addressed the blockchain and cryptocurrency market as a longer-term play due to its connection with the digitalization of the economy. But investors may wonder how appropriate the industry is for the long-term given environmental sustainability concerns. These concerns are particularly relevant to cryptocurrency miners who have received negative press attention for using electricity 24 hours a day to run vast facilities with large-scale computer systems. Since the industry is relatively new, multi-page sustainability reports for these companies are not as readily available as other public corporations, which may add to the negative perception. There are some misconceptions regarding electricity usage, however, and early signs show that most mining companies have taken steps to move toward renewable energy and become more environmentally friendly.
Cryptocurrency mining—what is it and how does it take up energy?
Cryptocurrency mining (usually Bitcoin mining) is essentially the process of verifying blocks of Bitcoin transactions. Miners use computers to “compete” to validate the transactions, which involves running a computer to solve a complex algorithm. Once the algorithm is solved, the transactions are verified by the rest of the network. Miners are incentivized with Bitcoin rewards for solving the problem.
As Bitcoin’s popularity rose, it became more difficult to mine for Bitcoin as more computers joined the network and the algorithms evolved (i.e., more computing power is now required). Previously anyone with a computer could mine for Bitcoin, but now the majority of Bitcoin mining is done by Bitcoin mining corporations or groups of individuals who have joined together to form a mining pool. Bitcoin mining companies often have large facilities with networks of computers that require a significant amount of electricity to both run the systems and cool down the subsequent heat generated from the process.
In May 2021, Elon Musk stated that Tesla (TSLA) would no longer accept Bitcoin payments due to the increasing usage of fossil fuels for mining.1 Other negative comparisons arose asserting that global Bitcoin mining used more electricity than a small country. But electricity consumption, although increasing, is not as large as many are led to believe.
1. Elon Musk on Twitter: Tesla & Bitcoin
According to the University of Cambridge, Bitcoin mining consumes about 0.5% of the world’s electricity – around 99 terawatt hours (TWh) per year globally.2 To put this into perspective, gold mining consumes 131 TWh per year. Other industrial processes such as iron and steel production and chemical production consume over 1,200 TWh per year.3 While it is true that global Bitcoin mining consumes more electricity annually than smaller countries like Kazakhstan and the Philippines, electricity consumption is nowhere near annual usage of developed countries like China and the United States. China and the United States generate close to 65x and 40x, respectively, the amount of electricity as Bitcoin does globally. The University of Cambridge study also found that renewable energy accounts for only 39% of total energy consumption for miners; however, 76% of miners utilize some portion of renewable energy—mostly hydroelectric—as part of their energy mix. This illustrates that while total energy consumption may not be as high as opponents may imply, there is still more progress to be made in the industry.
1. 3rd Global Cryptoasset Benchmarking Study by the University of Cambridge
2. Cambridge Bitcoin Electricity Consumption Index (CBECI)
Industry standards are still in early stages of fruition.
The Paris Climate Agreement inspired the Crypto Climate Accord (CCA) in April 2021 in an effort to decarbonize the cryptocurrency and blockchain industry. Its objective is to transition the entire crypto industry to net zero greenhouse gas emissions by 2040.4 Over 150 companies have joined as CCA Supporters, which help develop solutions in support of the CCA but have not necessarily made a commitment to decarbonize. Over half of these supporters are also CCA Signatories that commit to achieve net-zero emissions from crypto operations by 2030. As shown in the table below, several crypto mining constituents within the Alerian Galaxy Global Blockchain and Crypto Index Family have signed the CCA—most notably Dmg Blockchain Solutions (DMGI CN) and Argo Blockchain (ARGO), which were the first to sign.
Additionally, these large public companies have taken steps to utilize more green energy in their mining operations. Many of these also have mining facilities in colder regions like Western Canada. Canada is abundant with land, wind energy, and natural gas—ranking in the top 5 natural gas producers behind the United States, Russia, and Iran.5 Canada, however, is thought to be the most ideal out of these locations because of more relaxed crypto regulations and freezing temperatures. Operating mining facilities in colder weather regions helps cool the large amount of heat generated by the miners, which lowers the electricity cost.
1. Crypto Climate Accord
2. Natural Gas Facts (nrcan.gc.ca)
Bottom Line:
As investors consider cryptocurrency and blockchain equities as a long-term thematic investment, they should be aware that environmental sustainability standards are still evolving for this relatively new industry. Although there has traditionally been a negative perception of the Bitcoin mining process, crypto mining companies have started taking steps to address environmental sustainability, which will likely become a much larger topic of interest as the industry grows.
The Alerian Galaxy Global Blockchain Equity, Trusts & ETPs Index (BCHAIN) is the underlying index for the Invesco Alerian Galaxy Blockchain Users and Decentralized Commerce ETF (BLKC).
The Alerian Galaxy Global Cryptocurrency-Focused Blockchain Equity, Trusts & ETPs Index (CRYPTO) is the underlying index for the Invesco Alerian Galaxy Crypto Economy ETF (SATO).
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Healthcare
S-Network Medical Breakthroughs Index (PMBI)| ALPS Medical Breakthroughs ETF (SBIO)S-NetworkHealthcare Innovation Index (PHIX)| SmartTrust Healthcare Innovations Trust; Available on the C8 platform and the SMArtX platform
Technology
O'Shares Global Internet Giants Index (OGIGX)| O’Shares Global Internet Giants ETF (OGIG)S-Network NorthAmerican Disruptor Index (SNNADX)| SmartTrust Technology Revolution Trust – Includes 30 stocks from SNNADX
Water
S-Network Global Water Index (JGI)| Invesco Global Water Portfolio – Includes 25 stocks from JGI; Available on the C8 platform
Smart Climate Risk
S-Network Smart Climate Risk 50 Index (SNSC50) | Available on the C8 platform and the SMArtX platform S-Network Smart Climate Risk 250 Index (SNSC250) | Available on the C8 platform
Blockchain and Crypto
Alerian Galaxy Global Blockchain Equity, Trusts & ETPs Index(BCHAIN) | Invesco Alerian Galaxy Blockchain Users and Decentralized Commerce ETF (BLKC)
Alerian Galaxy Global Cryptocurrency-Focused Blockchain Equity, Trusts & ETPs Index (CRYPTO)| Invesco Alerian Galaxy Crypto Economy ETF (SATO)
Other
S-Network Infrastructure Builders Index (EIBI)| Available on the C8 platform
S-Network Space Index (SPACE)| Procure Space ETF (UFO)
S-Network MicroSectors Gold Miners Index (MINERS)| MicroSectors Gold Miners 3x Leveraged ETN (GDXU), MicroSectors Gold Miners -3x Inverse Leveraged ETN (GDXD)
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Disclaimers
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READ MORE AT ETFTRENDS.COM > || Crypto Mining for Digital Gold is Turning Green: This article was originally published on ETFTrends.com. Originally published by Alerian on October 14, 2021 in the Thematic Times. In an earlier note , Alerian addressed the blockchain and cryptocurrency market as a longer-term play due to its connection with the digitalization of the economy. But investors may wonder how appropriate the industry is for the long-term given environmental sustainability concerns. These concerns are particularly relevant to cryptocurrency miners who have received negative press attention for using electricity 24 hours a day to run vast facilities with large-scale computer systems. Since the industry is relatively new, multi-page sustainability reports for these companies are not as readily available as other public corporations, which may add to the negative perception. There are some misconceptions regarding electricity usage, however, and early signs show that most mining companies have taken steps to move toward renewable energy and become more environmentally friendly. Cryptocurrency mining—what is it and how does it take up energy? Cryptocurrency mining (usually Bitcoin mining) is essentially the process of verifying blocks of Bitcoin transactions. Miners use computers to “compete” to validate the transactions, which involves running a computer to solve a complex algorithm. Once the algorithm is solved, the transactions are verified by the rest of the network. Miners are incentivized with Bitcoin rewards for solving the problem. As Bitcoin’s popularity rose, it became more difficult to mine for Bitcoin as more computers joined the network and the algorithms evolved (i.e., more computing power is now required). Previously anyone with a computer could mine for Bitcoin, but now the majority of Bitcoin mining is done by Bitcoin mining corporations or groups of individuals who have joined together to form a mining pool. Bitcoin mining companies often have large facilities with networks of computers that require a significant amount of electricity to both run the systems and cool down the subsequent heat generated from the process. Story continues In May 2021, Elon Musk stated that Tesla (TSLA) would no longer accept Bitcoin payments due to the increasing usage of fossil fuels for mining.1 Other negative comparisons arose asserting that global Bitcoin mining used more electricity than a small country. But electricity consumption, although increasing, is not as large as many are led to believe. Elon Musk on Twitter: Tesla & Bitcoin alerian 1 According to the University of Cambridge, Bitcoin mining consumes about 0.5% of the world’s electricity – around 99 terawatt hours (TWh) per year globally.2 To put this into perspective, gold mining consumes 131 TWh per year. Other industrial processes such as iron and steel production and chemical production consume over 1,200 TWh per year.3 While it is true that global Bitcoin mining consumes more electricity annually than smaller countries like Kazakhstan and the Philippines, electricity consumption is nowhere near annual usage of developed countries like China and the United States. China and the United States generate close to 65x and 40x, respectively, the amount of electricity as Bitcoin does globally. The University of Cambridge study also found that renewable energy accounts for only 39% of total energy consumption for miners; however, 76% of miners utilize some portion of renewable energy—mostly hydroelectric—as part of their energy mix. This illustrates that while total energy consumption may not be as high as opponents may imply, there is still more progress to be made in the industry. alerian 2 3rd Global Cryptoasset Benchmarking Study by the University of Cambridge Cambridge Bitcoin Electricity Consumption Index (CBECI) Industry standards are still in early stages of fruition. The Paris Climate Agreement inspired the Crypto Climate Accord (CCA) in April 2021 in an effort to decarbonize the cryptocurrency and blockchain industry. Its objective is to transition the entire crypto industry to net zero greenhouse gas emissions by 2040.4 Over 150 companies have joined as CCA Supporters, which help develop solutions in support of the CCA but have not necessarily made a commitment to decarbonize. Over half of these supporters are also CCA Signatories that commit to achieve net-zero emissions from crypto operations by 2030. As shown in the table below, several crypto mining constituents within the Alerian Galaxy Global Blockchain and Crypto Index Family have signed the CCA—most notably Dmg Blockchain Solutions (DMGI CN) and Argo Blockchain (ARGO), which were the first to sign. Additionally, these large public companies have taken steps to utilize more green energy in their mining operations. Many of these also have mining facilities in colder regions like Western Canada. Canada is abundant with land, wind energy, and natural gas—ranking in the top 5 natural gas producers behind the United States, Russia, and Iran.5 Canada, however, is thought to be the most ideal out of these locations because of more relaxed crypto regulations and freezing temperatures. Operating mining facilities in colder weather regions helps cool the large amount of heat generated by the miners, which lowers the electricity cost. alerian 3 alerian 4 Crypto Climate Accord Natural Gas Facts (nrcan.gc.ca) Bottom Line: As investors consider cryptocurrency and blockchain equities as a long-term thematic investment, they should be aware that environmental sustainability standards are still evolving for this relatively new industry. Although there has traditionally been a negative perception of the Bitcoin mining process, crypto mining companies have started taking steps to address environmental sustainability, which will likely become a much larger topic of interest as the industry grows. The Alerian Galaxy Global Blockchain Equity, Trusts & ETPs Index (BCHAIN) is the underlying index for the Invesco Alerian Galaxy Blockchain Users and Decentralized Commerce ETF (BLKC). The Alerian Galaxy Global Cryptocurrency-Focused Blockchain Equity, Trusts & ETPs Index (CRYPTO) is the underlying index for the Invesco Alerian Galaxy Crypto Economy ETF (SATO). alerian 5 Related Research: Investing in the Digital Transformation: Accessing Blockchain and Crypto Through Equity Investments Strong Airline Demand Gives Wings to the Travel Industry Investing in Water: Water Brings the Heat in a Defensive Summer Investing in Global Infrastructure: Building the Future Economy Investing in Biotechnology: Disrupting the Healthcare Space Underlying Index | Associated Product/Direct-Indexing Platform Availability Healthcare S-Network Medical Breakthroughs Index (PMBI) | ALPS Medical Breakthroughs ETF (SBIO) S-Network Healthcare Innovation Index (PHIX) | SmartTrust Healthcare Innovations Trust; Available on the C8 platform and the SMArtX platform Technology O'Shares Global Internet Giants Index (OGIGX) | O’Shares Global Internet Giants ETF (OGIG) S-Network North American Disruptor Index (SNNADX) | SmartTrust Technology Revolution Trust – Includes 30 stocks from SNNADX Water S-Network Global Water Index (JGI) | Invesco Global Water Portfolio – Includes 25 stocks from JGI; Available on the C8 platform Smart Climate Risk S-Network Smart Climate Risk 50 Index (SNSC50) | Available on the C8 platform and the SMArtX platform S-Network Smart Climate Risk 250 Index (SNSC250) | Available on the C8 platform Blockchain and Crypto Alerian Galaxy Global Blockchain Equity, Trusts & ETPs Index (BCHAIN) | Invesco Alerian Galaxy Blockchain Users and Decentralized Commerce ETF (BLKC) Alerian Galaxy Global Cryptocurrency-Focused Blockchain Equity, Trusts & ETPs Index (CRYPTO) | Invesco Alerian Galaxy Crypto Economy ETF (SATO) Other S-Network Infrastructure Builders Index (EIBI) | Available on the C8 platform S-Network Space Index (SPACE) | Procure Space ETF (UFO) S-Network MicroSectors Gold Miners Index (MINERS) | MicroSectors Gold Miners 3x Leveraged ETN (GDXU), MicroSectors Gold Miners -3x Inverse Leveraged ETN (GDXD) S-Network Global Travel Index (TRAVEL) | ALPS Global Travel Beneficiaries ETF (JRNY) Disclaimers For more news, information, and strategy, visit the Crypto Channel . POPULAR ARTICLES AND RESOURCES FROM ETFTRENDS.COM SPY ETF Quote VOO ETF Quote QQQ ETF Quote VTI ETF Quote JNUG ETF Quote Top 34 Gold ETFs Top 34 Oil ETFs Top 57 Financials ETFs AdvisorShares Launches the Poseidon Dynamic Cannabis ETF, PSDN Why Today’s Bond Market Demands Active Management Four ETF Strategies to Diversify in Today’s Market Environment Retail ETFs Are Mixed Amid Optimistic Walmart Financial Data Schwab Launches the Schwab Ariel ESG ETF, SAEF READ MORE AT ETFTRENDS.COM > || Pound jumps against euro as UK inflation soars: Pound sterling - DANIEL SORABJI/AFP/Getty Images Pound rises against euro and dollar after inflation jumps to highest level in a decade FTSE 100 falls 0.5pc; Wall Street dips David Cameron quits tech firm after photos show employee's alleged abuse injuries Wright: Germany needs a nuclear rethink to keep the lights on without Russian gas Sign up here for our daily business briefing newsletter The pound has climbed to a one-week high versus the US dollar and a 21-month high against the euro after data showed UK inflation is running at its highest rate for a decade. Figures showing that inflation surged to 4.2pc in the year to October are stoking expectations of an interest rates rise as early as next month. It sent sterling 0.4pc higher against the euro to €1.19. Against the dollar, it edged 0.3pc higher to $1.3480, its highest level since November 10. 06:44 PM Wrapping up That's all from us today – thanks for following along. Here are some of our top stories: David Cameron quits tech firm after photos show employee's alleged abuse injuries Geordie Greig steps down as Daily Mail editor House of Fraser evicted from Oxford Street store Greggs struggles to keep vegan sausage rolls on the shelves 06:41 PM Lord Spencer's energy storage firm to list in London An energy storage company backed by City tycoon Lord Michael Spencer is planning to join the stock market to raise £20m to help develop its technology, writes Rachel Millard . Superdielectrics Group plans to join AIM to help equip its 9,200-square-foot laboratory near Cambridge and for research and development. The company says it has made a major breakthrough in the technology around capacitors, which store electrical energy, and is seeking “world leadership” in this field. It plans to float in December. Electricity storage is becoming of huge importance given the race to replace fossil fuels with intermittent sources of power such as wind and solar. Lord Spencer, 66, is a non-executive director of the company, having made his fortune setting up broker Icap, which was ultimately sold to CME Group in 2018. Story continues 06:28 PM BoE's Mann 'confident' inflation is under control Catherine Mann Bank of England inflation - Jason Alden/Bloomberg Bank of England policymaker Catherine Mann has insisted there's still confidence inflation will return to its 2pc target – despite data showing inflation has hit a 10-year high. Rising costs for household goods and energy have sparked fears of a threat to the UK's economic recovery. The central bank wrongfooted markets by holding interest rates steady earlier this month, but an increase in December's meeting is now firmly expected. Ms Mann said she was confident that the price rises remained temporary and that the Bank would be able to rein inflation in to its 2pc target. She said: "We feel confident that they believe that the Bank of England can and will - those are important ingredients right, can and will - undertake the appropriate policy response to bring inflation back to 2pc." 06:09 PM Glencore offloads Australian mine in £540m deal Glencore is selling a major copper and gold mine in Australia for A$1bn (£539m) to focus on cheaper sites elsewhere. My colleague Rachel Millard reports: The FTSE 100 miner’s Ernest Henry mine in Queensland will be taken over by Evolution Mining, its partner there for the past five years. The mine is expected to produce up to 60,000 tonnes of copper and 830,000 ounces of gold next year. Glencore will buy the copper concentrate produced by Ernest Henry but will concentrate on its other "lower cost, long life" copper mines. Credit Suisse said the sale was "positive" for Glencore given the strong price and limited remaining life of the mine. 05:49 PM Daily Mail editor Geordie Greig steps down Geordie Greig Daily Mail - ITV Daily Mail editor Geordie Greig is stepping down from the role after three years. Mr Greig, who took up the role in September 2018 after replacing Paul Dacre, will step down at the end of the week. He will be replaced by Ted Verity, who is currently editor of the Mail on Sunday. Scoop: Daily Mail editor Geordie Greig stepping down, replaced by Ted Verity — Mark Di Stefano (@MarkDiStef) November 17, 2021 05:31 PM FTSE drops after inflation blow The FTSE 100 has finished the day firmly in the red after new figures showed inflation soared to its highest level in a decade last month. The blue-chip index slid 0.5pc to 7,291 points while the pound pushed to new highs against the dollar and euro. London Stock Exchange Group was the biggest loser, dropping just over 6pc, while SSE fell 4.3pc after its bet on wind power failed to impress investors. Major exporters such as Unilever , Reckitt Benckiser and British American Tobacco also dragged the index lower. Sage Group bucked the downbeat trend, jumping 9.7pc after saying it would increase its dividend. The domestically-focused FTSE 250 also fell 0.5pc, led by a 10.5pc drop for CMC Markets. 05:10 PM Events group Informa holds firm over 'steady' improvement Events and exhibitions group Informa has held its guidance for the full year as it pointed to a “steadily improving” rate of bookings for live events. The FTSE 100 firm said it still expects revenues of around £1.8bn and adjusted operating profit of £375m for the full year. Informa said it had held more than 250 events so far, with further pick-up in participation expected as the year progresses. Investors were unimpressed, however, with shares falling 2.9pc. Stephen A Carter, chief executive of Informa, said: We will complete the 2021 transition year in a stronger place than we anticipated at the start of the year and are now single-mindedly focused on growth and acceleration through to 2024. 04:58 PM Lidl to become UK's highest-paying supermarket Lidl is to become Britain’s highest-paying supermarket as it prepares to increase hourly wages from March next year, writes Laura Onita. The German discounter is increasing hourly pay from £9.50 to £10.10 outside London and from £10.85 to £11.30 within the M25. The move comes after official figures this week suggested that employers are still struggling to fill roles amid rising inflation. UK inflation has increased to its highest level in a decade amid a severe cost of living squeeze from soaring household energy bills. Many companies are being forced to bump up pay to fill vacancies and retain existing staff, with official data this week revealing more than 1m people moved from one job to another in the three months to September, driven by resignations. Earlier this year, Morrisons became the first UK supermarket to pay staff at least £10 an hour. 04:47 PM Collapsed airline Flybe to return to the skies Flybe airline - Peter Byrne/PA Wire Regional carrier Flybe, which collapsed at the onset of the pandemic 20 months ago, is set to return to the skies in 2022. The company said it would start flying to domestic and EU destinations early next year from a new base in Birmingham. It did not give any details about routes. Flybe, which was already in financial difficulty before Covid hit, collapsed in March 2020 when loan talks with the government fell through. It was bought out last October by Thyme Opco. 04:33 PM UK threatens crackdown on Facebook and Google Boris Johnson has warned of tougher punishments for tech giants such as Facebook and Google if they fail to stamp out harmful material such as pornography and terrorist content. Speaking in front of a parliamentary committee, the Prime Minister said it's time Big Tech “realise that they cannot simply think of themselves as neutral pieces of infrastructure; they are publishers and responsible for what’s on their systems”. He added: “We want the strongest possible sanctions against people running online companies allowing a torrent of hateful stuff on their networks.” The Government is currently consulting on the Online Harms Bill, which will look to hold internet companies liable for the material published to their sites. Companies could be fined as much as 10pc of annual global revenue if they breach regulations, while Culture Secretary Nadine Dorries has indicated she is examining jail sentences of three to six months for criminal liability of executives. 04:24 PM Pasta panic for Italians as inflation pushes up prices pasta inflation Italy - BURCU ATALAY TANKUT Italians are facing the troubling prospect of paying more for their bowl of spaghetti as prices for staples such as pasta, tomatoes and olive oil continue to rise. The cost of tomatoes jumped 12pc last month compared to a year ago, according to official data. That follows an 18pc leap in September. Pasta prices rose almost 5pc, compounded by a drought that reduced North American production of durum wheat – a key ingredient. Rebounding demand, supply chain troubles and soaring energy prices have all fanned inflation in recent months. It comes after fresh UK data showed inflation last month soared to its highest level for a decade. 04:13 PM Numis reports itself to City watchdog over THG note THG Numis note Myprotein - RYAN EDY There's trouble brewing at investment bank Numis, which is said to have reported itself to the City watchdog after making – and then retracting – claims about accounting irregularities at THG. Sky News reports that a Numis analyst issued a bearish note last week accusing the troubled ecommerce group of "a lack of clarity" and casting doubts over its Ingenuity tech division. The memo advised clients to reduce their holdings in THG and suggested shares were overvalued by more than a fifth. Within 24 hours, the bank apologised for "misrepresentations" in the commentary and resent the note, removing the allusion to "irregularities in accounting". Numis has since referred itself to the Financial Conduct Authority over the potentially embarrassing situation. 03:54 PM Wall Street dips on interest rates uncertainty Time to check in on US stocks, which are languishing in the red this afternoon amid jitters about an early interest rate hike by the Federal Reserve. Target was among the retailers to report upbeat results thanks to an earlier start to Christmas shopping, though it dropped 4.8pc as margins were hit by supply chain troubles. Meanwhile, Visa fell 5.4pc after Amazon said it would stop accepting UK credit cards made by the company due to high transaction fees. The S&P 500 is trading down 0.2pc, while the Nasdaq is down 0.1pc. The Dow Jones is trailling 0.5pc. 03:44 PM Gas prices jump once again on Nord Stream worries Gas prices jumped to their highest level in a month on Wednesday as delays to Russia's controversial Nord Stream 2 pipeline stoked fears of a winter supply crunch. Benchmark Dutch prices rose as much as 8.1pc, while the UK equivalent was up just over 5pc, extending Tuesday's gains. It comes after Germany’s energy regulator suspended the certification process for the Nord Stream 2 link until it creates a local subsidiary for the section of the pipeline in the country. The move fuelled fears of winter shortages at a time when supplies are already tight and prices have soared to record highs. In a further blow, short-term weather forecasts point to temperatures below seasonal norms in Europe over the next few weeks. 03:37 PM Greggs gets flakey over sausage rolls Greggs bakery sausage roll McColls - REUTERS/Phil Noble/File Photo Bad news now for Greggs fans, after the baker warned it's struggling to keep its hot shelves stocked with vegan sausage rolls and bean and cheese melts amid lingering supply chain turmoil. Hannah Boland and Laura Onita have the details: The high street bakery chain said it was facing “temporary interruptions” to the supply of certain products across the UK, resulting in some stores running out of the items. Vegan sausage rolls are among the products which Greggs said had been particularly affected, with a spokesperson saying: "Some shops may not have them or may not have them throughout the day. It varies". It also told customers on Twitter that it was experiencing supply issues with sweeteners and sugar, as well as with its sausage, bean and cheese melts. It said it was "working hard" to get them back in stock. Separately McColl’s, whose wholesale supplier is Morrisons, warned of food and alcohol shortages in the run up to Christmas. Revenues have been dented due to a lack of drivers, understaffed warehouses and a shortage of key products, the company said. 03:19 PM Russia's Gazprom tries to get Nord Stream 2 pipeline back on track After Tuesday's reports that German regulators had delayed approval of Russia's new gas pipeline, it looks like the company behind the project is trying to course-correct quickly. State-owned Russian firm Gazprom is planning to set up a fully owned German subsidiary in a bid to win approval for the controversial Nord Stream 2 link, according to Bloomberg. It is an attempt to meet EU rules requiring natural gas producers to be legally separate from entities transporting the fuel, and have the operator registered in the bloc. Once completed, it will also allow the restart of certification of the 760-mile pipeline halted on Tuesday. However, Zongqiang Luo, a gas markets analyst at Norwegian consultants Rystad Energy AS, said he now estimates approval will be delayed until April at the earliest. 03:11 PM House of Fraser to shut flagship Oxford Street store House of Fraser Oxford Street House of Fraser is to close its flagship Oxford Street store after the firm's landlord served notice on the retailer. The department store chain, which is owned by Mike Ashley's Frasers Group, said it will move out of the London branch in January. It comes after the owner of the site, Public Properties Establishment, secured planning approval to carry out a £100m revamp of the building. The closure comes after the Debenhams store in Oxford Street shut earlier this year as well. A Frasers Group spokesman said: It is with regret that we have been served notice by the landlord to close House of Fraser, Oxford Street - following granted planning permission to redevelop the site. Since acquiring in 2018, despite challenges faced, we have worked collaboratively with the landlord to keep the store trading 3 years longer than what was initially proposed by the previous owner. As a business, who is continuing to invest significantly into the British high street, we feel it’s only fair to recognise and request an urgent review of the current archaic business rates, which continue to be astonishingly outdated. If business rates were reviewed it would support the future of House of Fraser. Without this, further store closures are inevitable. We would like to take this opportunity to thank our staff for their hard work and dedication. 02:54 PM Julian Jessop: Keeping interest rates at current levels "no longer defensible" Julian Jessop , an independent economist, has predicted that the Bank of England will have to raise interest rates to 0.25pc next month if it is "serious about keeping inflation down". His comments follow this morning's official data, which showed that the Consumer Price Index (CPI) measure of inflation rose by 4.2pc in the year to October - the biggest jump for a decade. Writing for the Telegraph, Mr Jessop says: The decision to duck the opportunity to raise rates in November was largely explained by near-term uncertainty about the labour market and the impact of the end of the furlough scheme. This always seemed a little lame, given the evidence from pretty much every business survey, but was just about defensible. No longer. You can read the full piece here . 02:36 PM Days after Cop26 ends... Biden auctions new oil drilling licences in Gulf of Mexico US President Joe Biden - NICHOLAS KAMM/AFP Joe Biden's US administration is set to auction new oil drilling rights across the Gulf of Mexico even as the White House tries to shift away from fossil fuels, Bloomberg reports. It comes after President Biden boasted at the Cop26 climate summit that America was "not only back at the table but hopefully leading by the power of our example". Bloomberg adds: The sale will take place despite pleas from environmental activists for its cancellation, since leases sold in the auction could yield decades of crude they say a warming world cannot afford to burn. The auction is unlikely to help President Joe Biden tame rising oil and gasoline prices that have set off political alarms at the White House. Leases sold Wednesday might only lead to oil production in five to 10 years -- if they yield any, since discoveries aren’t guaranteed. Environmental activists have pushed the administration to cancel the sale, arguing the auction clashes with US commitments to slash greenhouse gas emissions that Biden reinforced during the just-concluded COP26 climate summit in Scotland. 02:28 PM Apple lets customers fix their own iPhones for the first time Apple iPhone - REUTERS/Tatyana Makeyeva Apple is to start selling iPhone spare parts to the general public for the first time so they can carry out repairs at home. The US company said parts, tools and manuals will be available for the iPhone 12 and iPhone 13 at first, then for some Mac computers later on. Before now, only Apple itself or repair firms approved by the company had access to these. Apple's move comes after years of pressure from consumer groups, which have argued that Apple's restrictions on repairs reduce competition and result in higher prices for consumers. Jeff Williams, Apple’s chief operating officer, said: Creating greater access to Apple genuine parts gives our customers even more choice if a repair is needed. In the past three years, Apple has nearly doubled the number of service locations with access to Apple genuine parts, tools, and training, and now we’re providing an option for those who wish to complete their own repairs. 02:11 PM Pensioners "left without protection" as inflation surges Baroness Altman , a Tory peer and pensions expert, has warned that the inflation revealed by today's Consumer Prices Index (CPI) data will mean many pensioners will "struggle to make ends meet". She is critical of the Government's decision this week to temporarily scrap the pensions triple lock, which will leave millions worse off next year. Ministers instead pushed through plans to increase state pensions by a below-inflation rate of 3.1pc next year. Baroness Altman said: Pensioner poverty was already rising before the pandemic and the inflation numbers will leave more in desperate straits as the try to pay their basic bills during the coming months. Today's CPI inflation numbers confirm again the cost of living crisis already engulfing pensioners and it will continue to become clear that the shameful decision to increase their state pensions by just 3.1pc next year will plunge more elderly people into poverty. The House of Lords gave the Government and MPs the chance to think again and they refused to accept our compromise proposals that would correct for the anomalies of Covid impacts on the earnings and CPI statistics. Instead they have ploughed ahead with the clearly insufficient number which was artificially lowered by the pandemic policies. Pensioners have been left without the protection they were promised and more will struggle to make ends meet as inflation keeps rising. 12:50 PM Bitcoin and ether continue to slide Bitcoin ether - REUTERS/Edgar Su Bitcoin and ether are continuing to slide amid fears the world's two largest cryptocurrencies could be hit by new tax rules in the US. Bitcoin has been trading at around $60,000, down from its record high of $69,000 set earlier this month. Meanwhile, ether was at about $4,200, below its peak of $4,868. Analysts have also blamed profit-taking for some of the drop, as well as inflation in the US and a directive to state-owned firms in China not to engage in cryptocurrency mining. Bitcoin has doubled in value since January. But Craig Erlam, senior market analyst at online broker Oanda, said the digital currency could suffer severe drops if its falls below the symbolic level of $58,000. 12:33 PM McColls's Retail tumbles by 35pc after pre-Christmas warning on supply chains Shares in McColl’s Retail Group have tumbled by a record 35pc after the company flagged worsening supply chain problems ahead of Christmas. In a trading update, McColl’s slashed its profit forecast for the year, blaming a lack of lorry drivers, understaffed warehouses and product shortages. The stock has since pared some of its earlier losses but remains down by about 14pc. McColl's said: While we continue to work collaboratively with our wholesale partner, Morrisons, to lessen the effect of the disruption, we have been unable to fully mitigate the impact to stores, leading to significantly lower revenues than initially anticipated. FY21 adjusted EBITDA pre IFRS 16 is now expected to be in the range of £20m to £22m. The Group continues to monitor the situation with its key stakeholders, including its lending banks, who remain supportive. 12:25 PM Germany weighs working from home again in face of rising Covid-19 cases Germany may tell companies to let their staff work from home again under tough measures to tackle a winter surge in coronavirus cases, it has been reported. Bloomberg has this on legislation being considered in Berlin: Germany’s likely next ruling coalition is pushing ahead with tougher measures to tackle record increases in coronavirus cases, including requiring companies to let employees work from home where possible. The proposed law in some cases limits access to the workplace to people who are vaccinated, recovered or provide a negative test, according to parliamentary documents published Wednesday. The Social Democrats, Greens and Free Democrats aim to use their Bundestag majority to get it through the lower house of parliament on Thursday. “The current pandemic situation in Germany is dramatic,” Chancellor Angela Merkel told a conference of municipal leaders on Wednesday. “The fourth wave is hitting our country with full force.” The new legislation, which replaces existing emergency powers that will expire on Nov. 25, is designed to provide a nationwide framework while giving regions room to tighten restrictions in coronavirus hot spots where needed. 12:19 PM Inflation: How to protect your investments, property savings and pensions Inflation hit 4.2pc in October and there will be growing unease at the Bank of England that rapidly rising prices are causing living costs to spiral. It means there will be pressure on policymakers to increase interest rates in December. But how much of a risk is rising inflation, and how can you protect your finances? My colleagues at Telegraph Money have the answers. 12:13 PM British Land swings back into profit as workers return to cities We've also had half-year results from commercial landlord British Land today, which returned to a profit after enduring a tough time during the pandemic. The upbeat results come after rival LandSec also swung back into the black on Tuesday, suggesting the UK's property giants are finally turning the corner on Covid. They have had to battle low rent collection rates and steep declines in valuation during the pandemic. But British Land, which owns the Meadowhall shopping centre in Sheffield and the Broadgate office development in London, has now reported a £370m profit for the six months to September 30, up from a loss of £730m a year earlier. Simon Carter, the company's chief executive, says this was partly driven by the growing return of white collar workers to the office: Demand is firmly focused on the very best space, with an emphasis on sustainability, wellness, shared and flexible space and excellent transport connections. 11:59 AM David Cameron quits tech firm after photos show employee's alleged abuse injuries Tatiana Spottiswoode images - House Committee on the Judiciary David Cameron has quit his role at the software company Afiniti after its founder was accused of sexual abuse against a female employee. A spokesman for the former prime minister said on Wednesday that he was resigning as chairman of the company’s advisory board with immediate effect, and strongly disagreed with Afiniti’s response to the allegations. It came after Tatiana Spottiswoode, a former employee at the Bermuda-based artificial intelligence company, alleged a pattern of harassment and assault from Zia Chishti, Afiniti’s founder and chief executive. Mr Chishti denies the claims. The US House of Congress has now released pictures (above) allegedly showing the injuries suffered by Ms Spottiswoode. More details here . 11:51 AM Greggs vegan sausage roll hit by supply chain woes Greggs vegan sausage roll The vegan sausage roll sold by Greggs , the baker, has become the latest product to succumb to supply chain disruption across Britain. A light puff pastry filled with a Quorn meat substitute, it was launched by the high street chain in 2019 and has since became a popular alternative to its classic sausage roll. But Greggs has now warned customers it is suffering nationwide "temporary interruptions" to supplies of products - including the vegan-friendly pastries. A spokesman said some shops "may not have them, or may not have them throughout the day. It varies." The shortage follows panic buying at Britain's fuel pumps, soaring heating prices and limited supplies of crisps. Greggs' stores in London have been hit particularly hard, with branches in Twickenham, Richmond, Earls Court, Canary Wharf and South Woodford among those that have run out of vegan sausage rolls this week. 11:41 AM The most hawkish central bank in western Europe? Iceland raises interest rates While Andrew Bailey and the Bank of England may have held off from raising interest rates earlier this month, Iceland’s central bank is... breaking the ice, so to speak. The Reykjavík-based institution (Seðlabanki Íslands ) has announced its biggest rate rise since the coronavirus crisis struck in a bid to quell inflation and the country's overheating housing market. Policymakers lifted the seven-day term deposit rate by 50 basis points to 2pc, the highest level since March 2020, according to Bloomberg. The move cements Icelandic central bank’s position as the most hawkish in western Europe after it became the first to raise borrowing costs since the pandemic struck. 11:33 AM House prices jump 11.8pc in September as buyers rush to complete purchases Gabriella Dickens , of economist Pantheon Macroeconomics, says the big annual jump in house prices during September was due to buyers rushing to complete deals before the stamp duty holiday was completely phased out in October. Those who completed by the end of the month saved up to £2,500 in tax, my colleague Rachel Mortimer reports. 11:25 AM Hong Kong Disneyland closed after single visitor tests positive for Covid Hong Kong Disneyland Park - AP Photo/Kin Cheung Hong Kong's Disneyland Park has been closed for a day after authorities found one person who visited over the weekend was infected with the coronavirus. The site, which is majority-owned by the city government with Walt Disney a minority partner, said the closure was out of "an abundance of caution" and advised visitors to reschedule. The park has been forced to closed multiple times for prolonged periods since the start of the pandemic. 11:17 AM Sterling "could reach highs not seen since 2016" With today's inflation figures having lifted the pound to its highest level since February 2020 against the euro, analysts say sterling's good fortunes could continue. Victoria Scholar , head of investment at Interactive Investor, says: While euro-sterling has been trading in a descending trendline since April, losses have accelerated in November breaking below support at £0.85 with the next major test at around £0.82. A move down towards £0.82 would see the pound strengthen to highs not seen since 2016. 10:51 AM Amazon row with Visa is "ploy to cut fees" Money expert Martin Lewis has floated a theory on what is behind the bust-up between Amazon and Visa: Amazon to stop allowing people to use Visa credit cards from Jan (Visa debit, mastecard & amex still fine) It's because Visa is increasing transaction rates now the EU cap no longer applies (post Brexit). It's a possible negotiating tactic for Amazon to gets its fees reduced. — Martin Lewis (@MartinSLewis) November 17, 2021 10:45 AM Visa hits back at Amazon plans to ban credit card payments Visa has hit back at Amazon's plans to stop customers paying with Visa credit cards due to "high" fees. A spokesman for the firm said it was "very disappointed" that Amazon was threatening to "restrict consumer choice" by banning its cards. A Visa spokesman said: When consumer choice is limited, nobody wins. We have a long-standing relationship with Amazon, and we continue to work toward a resolution. Roughly nine in 10 British shoppers use Amazon, according to Mintel, a research firm, with around 40pc using its Prime subscription service. Amazon has declined to reveal how many customers will be affected. My colleague Will Kirkman has the details . 10:27 AM House prices gain £7,000 in final month of stamp duty holiday House prices rise to record in final month of stamp duty holiday relief - Andrew Matthews/PA Wire House prices soared to a record high in the final month of the stamp duty holiday after the average property gained £7,000 in the space of one month, my colleague Rachel Mortimer reports. Prices across Britain rose by 11.8pc in the year to September, up from 10.2pc in August. Price tags hit £270,000, the biggest average ever recorded by the Office for National Statistics and £6,000 higher than the previous record set in June of this year. September marked the final month buyers could benefit from savings under the stamp duty holiday. Those who completed by the end of the month could save up to £2,500 in tax, although a “race for space” amongst buyers moving to bigger properties has also been credited with the huge price jumps. However, the picture is not all rosy, with some now warning the market is in a bubble that could be about to burst . 10:21 AM Pound surges against euro and dollar on surging inflation figures The pound has climbed to a one-week high versus the US dollar and a 21-month high against the euro after data showed British inflation is running at its highest rate for a decade. Figures showing that inflation surged to 4.2pc in the year to October are stoking expectations of an interest rates rise as early as next month. It sent sterling 0.4pc higher against the euro to €1.19. Against the dollar, it edged 0.3pc higher to $1.3480, its highest level since November 10. Reacting to the data, analysts at Mizuho said: This morning’s UK inflation data was stronger than expected and, alongside Tuesday’s labour market data, further strengthens the case for a December hike. 10:13 AM Amazon in row with credit card provider Visa over "high" fees Amazon A row has erupted between Amazon and Visa, with the internet shopping giant accusing the latter of charging card fees that are too high. As a result, Amazon has told customers it will stop accepting payments made using UK Visa credit cards on its site from January 19. The US giant said it has made the decision due to "the high fees Visa charges for processing credit card transactions". Customers will still be able to use debit cards, including Visa, and non-Visa credit cards, it said. Here's what Amazon has said: The cost of accepting card payments continues to be an obstacle for businesses striving to provide the best prices for customers. These costs should be going down over time with technological advancements, but instead they continue to stay high or even rise. As a result of Visa's continued high cost of payments, we regret that Amazon.co.uk will no longer accept UK-issued Visa credit cards as of January 19 2022. With the rapidly changing payments landscape around the world, we will continue innovating on behalf of customers to add and promote faster, cheaper, and more inclusive payment options to our stores across the globe. Visa has not yet responded to the claims, according to the Press Association. 09:59 AM SSE pivot to renewables "well timed" Russ Mould , investment director at AJ Bell, points out that SSE's decision to exit the household energy supply market last year now looks prescient in the light of huge pressure rising gas prices are putting on other suppliers. But he warns the planned investment in wind and other renewables may not be enough to get activist Elliott off the company's back: SSE’s pivot towards renewables has been well-timed. Having sold its household energy supply and services firm at the beginning of 2020, it is not directly exposed to the current energy crisis, where even the larger operators will be running many loss-making accounts as the wholesale cost of gas and electricity soars above fixed tariffs. The company’s first half results saw the company double down on its commitment to clean energy. This is unlikely to be sufficient to get activist investor Elliott off its back, which having joined the shareholder register earlier this year has been reportedly pushing for SSE to take more radical action and separate the renewables assets from the grid business. 09:22 AM GSK inks $1bn deal to supply Covid drug to US Glaxosmithkline - BEN STANSALL/AFP via Getty Images Elsewhere today, British drugs giant GlaxoSmithKline has inked a $1 bn (£744m) deal to supply its new Covid-19 antibody treatment to the US. The firm said the new contract brings the number of doses ordered to 750,000 worldwide. GSK's new medicine, sotrovimab, can prevent Covid patients from becoming severely ill. Crucially, the drug also appears to retain its efficacy against the delta variant of the virus, judging from early data, the companies said. Hal Barron, the company's chief scientific officer, said: "Given the large number of patients who continue to become ill with Covid-19 across many regions in the US, there is an ongoing need for access to effective treatments." 09:13 AM Brexit "not behind inflation" Julian Jessop, an independent economist, points out that the UK's rate of inflation is not a unique problem internationally: Usual suspects may look at the UK #inflation data and cry #Brexit !, but it's the same (or worse) in the EU (as well as US)... UK headline rate 4.2%, #energy 22.3% Euro area headline 4.1%, energy 23.5% (and #food price inflation in euro area is actually higher) pic.twitter.com/Ot7XOwRfxv — Julian Jessop (@julianHjessop) November 17, 2021 09:08 AM Half-year profits at SSE rise to £174m The announcement of SSE's plans to sell a stake in its electricity network has come as the company reported its half-year results. Profits for the six months to September rose from £134m to £174m, an announcement said. But the company's renewables division was hit by poor weather in the UK during the summer, with wind levels low and dry conditions impacting its hydro business. James Magness, director for energy and resources at Edison Group, says the numbers show "good performance" and that the investment plans leave the firm "well placed to capitalise on the amplified global interest on clean energy provision". 08:52 AM FTSE 100 down as inflation surges The FTSE 100 index is sliding as investors bet that surging inflation makes an rise in interest rates more likely. Official figures show the Consumer Prices Index (CPI) rose by a bigger-than-expected 4.2pc in annual terms in October, up from a 3.1pc increase in September, as household energy bills rocketed. The internationally-focused Footsie, which is made up of big companies that make much of their money abroad, slipped 0.1pc as the sterling hit a one-week high against the dollar. Financial markets have currently priced in a near-100pc chance that the Bank of England will raise rates from the record-low of 0.1pc to 0.25pc in December, according to Reuters. 08:42 AM SSE's big bet on wind power SSE's renewable energy portfolio already includes about 4 gigawatts of wind and hydroelectric power but the company's new investment plan will aim to double that figure by 2026. Wind power is already the biggest source of renewable energy in the UK and ministers are pushing for it to play an even bigger role in the future as part of plans to transition to a "net zero" carbon economy. 08:37 AM Would an interest rates rise help with inflation? Danni Hewson, financial analyst at AJ Bell, has chipped in with some more commentary on today's inflation data, asking whether a rise in interest rates will actually help tackle the problem: The Bank [of England’s] governor Andrew Bailey has admitted he’s worried by the figures and had given serious thought to hiking rates earlier this month. The question is what good would it do. Very little in the immediate aftermath seems to be the answer especially as a rate rise wouldn’t solve the global chip shortage, geo-political tensions or shortages of crucial supplies like gas. But a rate rise will send a signal, it might give employers a slight pause before they plump for the cheque book to solve their recruitment issues. Yesterday’s jobs figures coupled with today’s inflation numbers could be a recipe for stagflation, a situation no government, no country wants to experience. The Bank doesn’t want to act too soon, to undermine recovery, or to act if its move will only add to the pain for cash strapped consumers, but it will now be under increased scrutiny. 08:33 AM Today in Telegraph Money Here's a round-up of the top stories from the Telegraph's personal finance team today: Where the country house price bubble could burst Civil servants letting tax dodgers off 'scot free', audit office warns 08:29 AM SSE "to contribute more than 25pc of UK wind target" Under plans announced this morning, utility giant SSE says its renewable energy projects could contribute more than one quarter of the UK's goal to generate 40 gigawatts of offshore wind power by 2030. It will be seen as a boost to Boris Johnson's plan to turn Britain into the "Saudi Arabia" of wind power. Alistair Phillips-Davies , SSE's chief executive, says: After all the commitments made at COP26, now is the time to deliver. Our Net Zero Acceleration Programme represents the next phase of SSE’s growth and involves a substantial ramping up of investment – equivalent to nearly £7m each day in low-carbon infrastructure – backed up by clear delivery and funding plans. Today’s announcement will maximise our long-term potential and capture growth opportunities during a critical time for the energy sector, creating jobs, delivering on government ambitions, and creating value for society and shareholders . 08:08 AM On this level of inflation, pensioners "could find it hard to cope" Becky O’Connor, head of pensions and savings at Interactive Investor, warns that pensioners may find it "hard to cope" with surging prices. She points out that the state pension will only rise by 3.1pc next year after the Government temporarily ditched the triple lock: For pensioners and others on limited incomes, this level of inflation is hard to cope with. Careful budgeting only gets you so far. Those already on the cheapest possible deals, the lowest tariffs and buying the cheapest food have very little wriggle room. There’s nowhere left to hide. You will always be spending something on food, energy and fuel if you drive and these are among the categories where prices are rising the fastest. The state pension will rise next year by September’s inflation figure of 3.1pc after the Government stuck with the plan to ditch the earnings link of the triple lock guarantee for a year. Economists had predicted that September’s inflation rate would look low compared to the inflation on the cards this winter and into 2022. It now looks way behind the rising trend. Those dependent on the state pension will therefore find the essentials they need for basic living harder to afford. 07:59 AM Interest rates: "If jobs data was the cake, inflation is the cherry" Simon French , chief economist at Panmure Gordon, sums up how many economists feel about the inflation data this morning: UK CPI inflation up to 4.2%YoY in October. Half of the uptick resulting from the increase to OFGEM price cap. Inflation in line with inflation dynamics seen in other developed markets (EU +4.1%). If yesterday jobs data was the cake for Dec BoE rate increase, this AM is the cherry pic.twitter.com/XpdW0STRws — Simon French (@shjfrench) November 17, 2021 07:57 AM Rishi Sunak: We know people are facing pressures Rishi Sunak the Chancellor - UK Parliament/Jessica Taylor/PA Wire Rishi Sunak, the Chancellor, has issued a statement reacting to the inflation data: Many countries are experiencing higher inflation as we recover from Covid, and we know people are facing pressures with the cost of living, which is why we are taking action worth more than £4.2bn to help them. We're helping people get into work, progress and keep more of what they earn, through our Plan for Jobs and by effectively cutting taxes for workers receiving Universal Credit. We are also providing more immediate support, including through the £500m Household Support Fund for the most vulnerable families, fuel and alcohol duty freezes, and the energy price cap. 07:52 AM Inflation data "an embarrassment" for Bank of England More reaction to this morning's inflation figures is flooding in - and some experts are not pulling their punches. Michael Hewson, chief market analyst at CMC Markets UK, says the decision by policymakers at the Bank of England to keep interest rates at a record low of 0.1pc this month now looks overly cautious: Today’s data is a huge embarrassment for the Bank of England, whose procrastination over a modest 0.15pc rate rise earlier this month now makes it odds-on that all the pre-Christmas headlines will be of the 'Bank of England steals Christmas' variety - if they do bite the bullet and belatedly nudge rates higher. Richard Carter , head of fixed interest at wealth manager Quilter Cheviot, also expects tough conversations at the Bank of England's next meeting of interest rate setters, the Monetary Policy Committee. He points to Tuesday's labour market figures, which showed that unemployment fell and vacancies rose even after the end of furlough, as further evidence in the case for a rates rise: This morning’s print suggests we should be braced for a showdown at the next MPC meeting in December, where all bets will be on a rate hike. Particularly given we now have more information on the state of the labour market in the UK. Some may say that the heightened inflation is evidence that the Bank of England should have acted already and started the process of tightening monetary policy. But really what’s causing the heightened price increases in the energy market is a perfect storm of factors that are all feeding through at the same time. But Dan Boardman-Weston, chief investment officer at BRI Wealth Management, also warns that policymakers should not be too hasty: The level of inflation is going to keep getting worse over the coming months as supply stays stretched, demand stays robust and base effects technically push the rate of inflation higher. This is undoubtedly going to put pressure on the Bank of England to raise rates, which we suspect they will have to do in the next few months given the high levels of inflation and robust labour market. Nothing we see leads us to believe that this inflation is permanent and as we start heading into Spring next year the figures will start falling rapidly. The Bank of England needs to be careful that they’re not too hasty in tightening monetary policy as a policy misstep could do more harm to the economy than this transitory inflation we are witnessing. 07:44 AM "Stage set" for interest rates to rise in December Thomas Pugh, economist at RSM UK, is one of the first out the blocks this morning with a prediction that this morning's inflation figures add more weight to predictions that the Bank of England will raise interest rates next month. Andrew Bailey, the Bank's Governor, has flagged surging inflation as a key concern ahead of December's meeting of the Monetary Policy Committee (MPC), which backed off from a rates rise earlier this month. But Mr Pugh said: With inflation almost double the MPCs target of 2pc and no signs that the ending of the furlough scheme in September adversely affected the labour market, the stage seems set for the MPC to hike interest rates in December. He said the biggest price pressures were "being felt in those areas most affected by supply chain disruptions". Inflation is expected to peak at 5pc in April, but Mr Pugh said it is expected to "fall quickly" afterwards and return to 2pc by early 2023. 07:37 AM What is contributing to inflation? The main upwards pressure on October's inflation figure came from household costs such as the price of electricity, gas and other fuels, according to the Office for National Statistics. It followed an increase in the cap on energy prices after wholesale prices for gas rocketed. Further pressure on inflation came from rising prices for petrol, second-hand cars and air fares. 07:26 AM Inflation surges to highest level in a decade on fuel and energy costs Good morning. Inflation has soared to its highest level for a decade on the back of rising petrol and household energy costs. The Consumer Prices Index (CPI) rose by 4.2pc in the year to October, up from 3.1pc the previous month. This was a bigger rise than economists had expected and will add pressure on the Bank of England to raise interest rates. Andrew Bailey, the Bank's Governor, warned on Monday that he is "very uneasy" about surging inflation . 5 things to start your day 1) Sex assault claims rock David Cameron's tech firm Founder of Afiniti, which employs Princess Beatrice, is accused of grooming and beating a female employee. 2) Qatar to take £100m stake in Rolls-Royce reactor venture Investment to help develop small nuclear reactors will deepen ties between the FTSE 100 engineering company and the gas-rich Gulf state. 3) Rolling blackouts threaten Europe this winter Trafigura chief warns that a prolonged cold snap could result in electricity shortages due to insufficient gas storage. 4) George Eustice: Working mothers can fill abattoir vacancies Environment Secretary says practices at meat processing facilities have changed, allowing British staff to do jobs once taken by migrants. 5) Arm's $40bn takeover faces national security investigation Culture Secretary orders competition watchdog to examine Nvidia's deal to buy Cambridge-based tech champion Arm. What happened overnight Asian markets dipped on Wednesday as a recent rally ran out of steam and investors struggled to match a strong lead from Wall Street. In early trade, Hong Kong retreated for the first time in a week, while Tokyo, Shanghai, Taipei, Seoul, Singapore, Sydney and Wellington were also in negative territory. Coming up today Corporate: Sage Group, Safestore Holdings (full-year results) ; British Land, CMC Markets, Experian, SSE, Workspace (interims) ; Spirax-Sarco, Informa (trading update) Economics: Consumer price index (UK) , retail price index (UK) , producer price index (UK) , financial stability review (EU) , retail sales (US) , housing starts (US) || Pound jumps against euro as UK inflation soars: • Pound rises against euro and dollar afterinflation jumps to highest level in a decade
• FTSE 100 falls 0.5pc; Wall Street dips
• David Cameron quits tech firm after photos show employee's alleged abuse injuries
• Wright:Germany needs a nuclear rethink to keep the lights on without Russian gas
• Sign up here for our daily business briefing newsletter
The pound has climbed to a one-week high versus the US dollar and a 21-month high against the euro after data showed UK inflation is running at its highest rate for a decade.
Figures showing that inflation surged to 4.2pc in the year to October are stoking expectations of an interest rates rise as early as next month.
It sent sterling 0.4pc higher against the euro to €1.19. Against the dollar, it edged 0.3pc higher to $1.3480, its highest level since November 10.
That's all from us today – thanks for following along. Here are some of our top stories:
• David Cameron quits tech firm after photos show employee's alleged abuse injuries
• Geordie Greig steps down as Daily Mail editor
• House of Fraser evicted from Oxford Street store
• Greggs struggles to keep vegan sausage rolls on the shelves
An energy storage company backed by City tycoon Lord Michael Spencer is planning to join the stock market to raise £20m to help develop its technology, writesRachel Millard.
Superdielectrics Group plans to join AIM to help equip its 9,200-square-foot laboratory near Cambridge and for research and development.
Bank of England policymaker Catherine Mann has insisted there's still confidence inflation will return to its 2pc target – despite data showing inflation has hit a 10-year high.
Rising costs for household goods and energy have sparked fears of a threat to the UK's economic recovery.
The central bank wrongfooted markets by holding interest rates steady earlier this month, but an increase in December's meeting is now firmly expected.
Ms Mann said she was confident that the price rises remained temporary and that the Bank would be able to rein inflation in to its 2pc target.
She said: "We feel confident that they believe that the Bank of England can and will - those are important ingredients right, can and will - undertake the appropriate policy response to bring inflation back to 2pc."
Glencore is selling a major copper and gold mine in Australia for A$1bn (£539m) to focus on cheaper sites elsewhere.
My colleagueRachel Millardreports:
The FTSE 100 miner’s Ernest Henry mine in Queensland will be taken over by Evolution Mining, its partner there for the past five years.
Daily Mail editor Geordie Greig is stepping down from the role after three years.
Mr Greig, who took up the role in September 2018 after replacing Paul Dacre, will step down at the end of the week.
He will be replaced by Ted Verity, who is currently editor of the Mail on Sunday.
The FTSE 100 has finished the day firmly in the red after new figures showed inflation soared to its highest level in a decade last month.
The blue-chip index slid 0.5pc to 7,291 points while the pound pushed to new highs against the dollar and euro.
London Stock Exchange Groupwas the biggest loser, dropping just over 6pc, whileSSEfell 4.3pc after its bet on wind power failed to impress investors.
Major exporters such asUnilever,Reckitt BenckiserandBritish American Tobaccoalso dragged the index lower.
Sage Groupbucked the downbeat trend, jumping 9.7pc after saying it would increase its dividend.
The domestically-focused FTSE 250 also fell 0.5pc, led by a 10.5pc drop forCMC Markets.
Events and exhibitions group Informa has held its guidance for the full year as it pointed to a “steadily improving” rate of bookings for live events.
The FTSE 100 firm said it still expects revenues of around £1.8bn and adjusted operating profit of £375m for the full year.
Informa said it had held more than 250 events so far, with further pick-up in participation expected as the year progresses. Investors were unimpressed, however, with shares falling 2.9pc.
Stephen A Carter, chief executive of Informa, said:
We will complete the 2021 transition year in a stronger place than we anticipated at the start of the year and are now single-mindedly focused on growth and acceleration through to 2024.
Lidl is to become Britain’s highest-paying supermarket as it prepares to increase hourly wages from March next year, writesLaura Onita.
The German discounter is increasing hourly pay from £9.50 to £10.10 outside London and from £10.85 to £11.30 within the M25.
Regional carrier Flybe, which collapsed at the onset of the pandemic 20 months ago, is set to return to the skies in 2022.
The company said it would start flying to domestic and EU destinations early next year from a new base in Birmingham. It did not give any details about routes.
Flybe, which was already in financial difficulty before Covid hit, collapsed in March 2020 when loan talks with the government fell through. It was bought out last October by Thyme Opco.
Boris Johnson has warned of tougher punishments for tech giants such as Facebook and Google if they fail to stamp out harmful material such as pornography and terrorist content.
Speaking in front of a parliamentary committee, the Prime Minister said it's time Big Tech “realise that they cannot simply think of themselves as neutral pieces of infrastructure; they are publishers and responsible for what’s on their systems”.
He added: “We want the strongest possible sanctions against people running online companies allowing a torrent of hateful stuff on their networks.”
The Government is currently consulting on the Online Harms Bill, which will look to hold internet companies liable for the material published to their sites.
Companies could be fined as much as 10pc of annual global revenue if they breach regulations, while Culture Secretary Nadine Dorries has indicated she is examining jail sentences of three to six months for criminal liability of executives.
Italians are facing the troubling prospect of paying more for their bowl of spaghetti as prices for staples such as pasta, tomatoes and olive oil continue to rise.
The cost of tomatoes jumped 12pc last month compared to a year ago, according to official data. That follows an 18pc leap in September.
Pasta prices rose almost 5pc, compounded by a drought that reduced North American production of durum wheat – a key ingredient.
Rebounding demand, supply chain troubles and soaring energy prices have all fanned inflation in recent months. It comes after fresh UK data showed inflation last month soared to its highest level for a decade.
There's trouble brewing at investment bank Numis, which is said to have reported itself to the City watchdog after making – and then retracting – claims about accounting irregularities at THG.
Sky News reports that a Numis analyst issued a bearish note last week accusing the troubled ecommerce group of "a lack of clarity" and casting doubts over its Ingenuity tech division.
The memo advised clients to reduce their holdings in THG and suggested shares were overvalued by more than a fifth.
Within 24 hours, the bank apologised for "misrepresentations" in the commentary and resent the note, removing the allusion to "irregularities in accounting".
Numis has since referred itself to the Financial Conduct Authority over the potentially embarrassing situation.
Time to check in on US stocks, which are languishing in the red this afternoon amid jitters about an early interest rate hike by the Federal Reserve.
Targetwas among the retailers to report upbeat results thanks to an earlier start to Christmas shopping, though it dropped 4.8pc as margins were hit by supply chain troubles.
Meanwhile,Visafell 5.4pc after Amazon said it would stop accepting UK credit cards made by the company due to high transaction fees.
The S&P 500 is trading down 0.2pc, while the Nasdaq is down 0.1pc. The Dow Jones is trailling 0.5pc.
Gas prices jumped to their highest level in a month on Wednesday as delays to Russia's controversial Nord Stream 2 pipeline stoked fears of a winter supply crunch.
Benchmark Dutch prices rose as much as 8.1pc, while the UK equivalent was up just over 5pc, extending Tuesday's gains.
It comes after Germany’s energy regulator suspended the certification process for the Nord Stream 2 link until it creates a local subsidiary for the section of the pipeline in the country.
The move fuelled fears of winter shortages at a time when supplies are already tight and prices have soared to record highs. In a further blow, short-term weather forecasts point to temperatures below seasonal norms in Europe over the next few weeks.
Bad news now for Greggs fans, after the baker warned it's struggling to keep its hot shelves stocked with vegan sausage rolls and bean and cheese melts amid lingering supply chain turmoil.
Hannah BolandandLaura Onitahave the details:
The high street bakery chain said it was facing “temporary interruptions” to the supply of certain products across the UK, resulting in some stores running out of the items.
After Tuesday's reports that German regulators had delayed approval of Russia's new gas pipeline, it looks like the company behind the project is trying to course-correct quickly.
State-owned Russian firm Gazprom is planning to set up a fully owned German subsidiary in a bid to win approval for the controversial Nord Stream 2 link, according to Bloomberg.
It is an attempt to meet EU rules requiring natural gas producers to be legally separate from entities transporting the fuel, and have the operator registered in the bloc.
Once completed, it will also allow the restart of certification of the 760-mile pipeline halted on Tuesday.
However, Zongqiang Luo, a gas markets analyst at Norwegian consultants Rystad Energy AS, said he now estimates approval will be delayed until April at the earliest.
House of Fraseris to close its flagship Oxford Street store after the firm's landlord served notice on the retailer.
The department store chain, which is owned by Mike Ashley's Frasers Group, said it will move out of the London branch in January.
It comes after the owner of the site, Public Properties Establishment, secured planning approval to carry out a £100m revamp of the building.
The closure comes after theDebenhamsstore in Oxford Street shut earlier this year as well.
A Frasers Group spokesman said:
It is with regret that we have been served notice by the landlord to close House of Fraser, Oxford Street - following granted planning permission to redevelop the site. Since acquiring in 2018, despite challenges faced, we have worked collaboratively with the landlord to keep the store trading 3 years longer than what was initially proposed by the previous owner.
Julian Jessop, an independent economist, has predicted that the Bank of England will have to raise interest rates to 0.25pc next month if it is "serious about keeping inflation down".
His comments follow this morning's official data, which showed that the Consumer Price Index (CPI) measure of inflation rose by 4.2pc in the year to October - the biggest jump for a decade.
Writing for the Telegraph, Mr Jessop says:
The decision to duck the opportunity to raise rates in November was largely explained by near-term uncertainty about the labour market and the impact of the end of the furlough scheme. This always seemed a little lame, given the evidence from pretty much every business survey, but was just about defensible. No longer.
You canread the full piece here.
Joe Biden's US administration is set to auction new oil drilling rights across the Gulf of Mexico even as the White House tries to shift away from fossil fuels, Bloomberg reports.
It comes after President Biden boasted at the Cop26 climate summit that America was "not only back at the table but hopefully leading by the power of our example".
Bloomberg adds:
The sale will take place despite pleas from environmental activists for its cancellation, since leases sold in the auction could yield decades of crude they say a warming world cannot afford to burn.
Apple is to start selling iPhone spare parts to the general public for the first time so they can carry out repairs at home.
The US company said parts, tools and manuals will be available for the iPhone 12 and iPhone 13 at first, then for some Mac computers later on.
Before now, only Apple itself or repair firms approved by the company had access to these.
Apple's move comes after years of pressure from consumer groups, which have argued that Apple's restrictions on repairs reduce competition and result in higher prices for consumers.
Jeff Williams, Apple’s chief operating officer, said:
Creating greater access to Apple genuine parts gives our customers even more choice if a repair is needed. In the past three years, Apple has nearly doubled the number of service locations with access to Apple genuine parts, tools, and training, and now we’re providing an option for those who wish to complete their own repairs.
Baroness Altman, a Tory peer and pensions expert, has warned that the inflation revealed by today's Consumer Prices Index (CPI) data will mean many pensioners will "struggle to make ends meet".
She is critical of the Government's decision this week to temporarily scrap the pensions triple lock, which will leave millions worse off next year.
Ministers instead pushed through plans to increase state pensions by a below-inflation rate of 3.1pc next year.
Baroness Altman said:
Pensioner poverty was already rising before the pandemic and the inflation numbers will leave more in desperate straits as the try to pay their basic bills during the coming months. Today's CPI inflation numbers confirm again the cost of living crisis already engulfing pensioners and it will continue to become clear that the shameful decision to increase their state pensions by just 3.1pc next year will plunge more elderly people into poverty.
Bitcoin and ether are continuing to slide amid fears the world's two largest cryptocurrencies could be hit by new tax rules in the US.
Bitcoin has been trading at around $60,000, down from its record high of $69,000 set earlier this month.
Meanwhile, ether was at about $4,200, below its peak of $4,868.
Analysts have also blamed profit-taking for some of the drop, as well as inflation in the US and a directive to state-owned firms in China not to engage in cryptocurrency mining.
Bitcoin has doubled in value since January.
But Craig Erlam, senior market analyst at online broker Oanda, said the digital currency could suffer severe drops if its falls below the symbolic level of $58,000.
Shares inMcColl’s Retail Grouphave tumbled by a record 35pc after the company flagged worsening supply chain problems ahead of Christmas.
In a trading update, McColl’s slashed its profit forecast for the year, blaming a lack of lorry drivers, understaffed warehouses and product shortages.
The stock has since pared some of its earlier losses but remains down by about 14pc.
McColl's said:
While we continue to work collaboratively with our wholesale partner, Morrisons, to lessen the effect of the disruption, we have been unable to fully mitigate the impact to stores, leading to significantly lower revenues than initially anticipated. FY21 adjusted EBITDA pre IFRS 16 is now expected to be in the range of £20m to £22m. The Group continues to monitor the situation with its key stakeholders, including its lending banks, who remain supportive.
Germanymay tell companies to let their staff work from home again under tough measures to tackle a winter surge in coronavirus cases, it has been reported.
Bloomberg has this on legislation being considered in Berlin:
Germany’s likely next ruling coalition is pushing ahead with tougher measures to tackle record increases in coronavirus cases, including requiring companies to let employees work from home where possible.
Inflation hit 4.2pc in October and there will be growing unease at the Bank of England that rapidly rising prices are causing living costs to spiral.
It means there will be pressure on policymakers to increase interest rates in December.
But how much of a risk is rising inflation, and how can you protect your finances?
My colleagues atTelegraph Money have the answers.
We've also had half-year results from commercial landlord British Land today, which returned to a profit after enduring a tough time during the pandemic.
The upbeat results come after rival LandSec also swung back into the black on Tuesday, suggesting the UK's property giants are finally turning the corner on Covid.
They have had to battle low rent collection rates and steep declines in valuation during the pandemic.
But British Land, which owns the Meadowhall shopping centre in Sheffield and the Broadgate office development in London, has now reported a £370m profit for the six months to September 30, up from a loss of £730m a year earlier.
Simon Carter, the company's chief executive, says this was partly driven by the growing return of white collar workers to the office:
Demand is firmly focused on the very best space, with an emphasis on sustainability, wellness, shared and flexible space and excellent transport connections.
David Cameron has quit his role at the software company Afiniti after its founder was accused of sexual abuse against a female employee.
A spokesman for the former prime minister said on Wednesday that he was resigning as chairman of the company’s advisory board with immediate effect, and strongly disagreed with Afiniti’s response to the allegations.
It came after Tatiana Spottiswoode, a former employee at the Bermuda-based artificial intelligence company, alleged a pattern of harassment and assault from Zia Chishti, Afiniti’s founder and chief executive. Mr Chishti denies the claims.
The US House of Congress has now released pictures (above) allegedly showing the injuries suffered by Ms Spottiswoode.
More details here.
The vegan sausage roll sold byGreggs, the baker, has become the latest product to succumb to supply chain disruption across Britain.
A light puff pastry filled with a Quorn meat substitute, it was launched by the high street chain in 2019 and has since became a popular alternative to its classic sausage roll.
But Greggs has now warned customers it is suffering nationwide "temporary interruptions" to supplies of products - including the vegan-friendly pastries.
A spokesman said some shops "may not have them, or may not have them throughout the day. It varies."
The shortage follows panic buying at Britain's fuel pumps, soaring heating prices and limited supplies of crisps.
Greggs' stores in London have been hit particularly hard, with branches in Twickenham, Richmond, Earls Court, Canary Wharf and South Woodford among those that have run out of vegan sausage rolls this week.
WhileAndrew Baileyand theBank of Englandmay have held off from raising interest rates earlier this month, Iceland’s central bank is... breaking the ice, so to speak.
The Reykjavík-based institution (Seðlabanki Íslands)has announced its biggest rate rise since the coronavirus crisis struck in a bid to quell inflation and the country's overheating housing market.
Policymakers lifted the seven-day term deposit rate by 50 basis points to 2pc, the highest level since March 2020, according to Bloomberg.
The move cements Icelandic central bank’s position as the most hawkish in western Europe after it became the first to raise borrowing costs since the pandemic struck.
Gabriella Dickens, of economist Pantheon Macroeconomics, says the big annual jump in house prices during September was due to buyers rushing to complete deals before the stamp duty holiday was completely phased out in October.
Those who completed by the end of the month saved up to £2,500 in tax,my colleague Rachel Mortimer reports.
Hong Kong's Disneyland Park has been closed for a day after authorities found one person who visited over the weekend was infected with the coronavirus.
The site, which is majority-owned by the city government with Walt Disney a minority partner, said the closure was out of "an abundance of caution" and advised visitors to reschedule.
The park has been forced to closed multiple times for prolonged periods since the start of the pandemic.
With today's inflation figures having lifted the pound to its highest level since February 2020 against the euro, analysts say sterling's good fortunes could continue.
Victoria Scholar, head of investment at Interactive Investor, says:
While euro-sterling has been trading in a descending trendline since April, losses have accelerated in November breaking below support at £0.85 with the next major test at around £0.82. A move down towards £0.82 would see the pound strengthen to highs not seen since 2016.
Money expert Martin Lewis has floated a theory on what is behind the bust-up between Amazon and Visa:
Visa has hit back at Amazon's plans to stop customers paying with Visa credit cards due to "high" fees.
A spokesman for the firm said it was "very disappointed" that Amazon was threatening to "restrict consumer choice" by banning its cards.
A Visa spokesman said:
When consumer choice is limited, nobody wins. We have a long-standing relationship with Amazon, and we continue to work toward a resolution.
Roughly nine in 10 British shoppers use Amazon, according to Mintel, a research firm, with around 40pc using its Prime subscription service.
Amazon has declined to reveal how many customers will be affected.
My colleague Will Kirkmanhas the details.
House prices soared to a record high in the final month of the stamp duty holiday after the average property gained £7,000 in the space of one month, my colleagueRachel Mortimerreports.
Prices across Britain rose by 11.8pc in the year to September, up from 10.2pc in August.
Price tags hit £270,000, the biggest average ever recorded by the Office for National Statistics and £6,000 higher than the previous record set in June of this year.
September marked the final month buyers could benefit from savings under the stamp duty holiday.
Those who completed by the end of the month could save up to £2,500 in tax, although a “race for space” amongst buyers moving to bigger properties has also been credited with the huge price jumps.
However, the picture is not all rosy, with some now warningthe market is in a bubble that could be about to burst.
The pound has climbed to a one-week high versus the US dollar and a 21-month high against the euro after data showed British inflation is running at its highest rate for a decade.
Figures showing that inflation surged to 4.2pc in the year to October are stoking expectations of an interest rates rise as early as next month.
It sent sterling 0.4pc higher against the euro to €1.19. Against the dollar, it edged 0.3pc higher to $1.3480, its highest level since November 10.
Reacting to the data, analysts at Mizuho said:
This morning’s UK inflation data was stronger than expected and, alongside Tuesday’s labour market data, further strengthens the case for a December hike.
A row has erupted between Amazon and Visa, with the internet shopping giant accusing the latter of charging card fees that are too high.
As a result, Amazon has told customers it will stop accepting payments made using UK Visa credit cards on its site from January 19.
The US giant said it has made the decision due to "the high fees Visa charges for processing credit card transactions".
Customers will still be able to use debit cards, including Visa, and non-Visa credit cards, it said.
Here's what Amazon has said:
The cost of accepting card payments continues to be an obstacle for businesses striving to provide the best prices for customers.
Visa has not yet responded to the claims, according to the Press Association.
Russ Mould, investment director at AJ Bell, points out that SSE's decision to exit the household energy supply market last year now looks prescient in the light of huge pressure rising gas prices are putting on other suppliers.
But he warns the planned investment in wind and other renewables may not be enough to get activist Elliott off the company's back:
SSE’s pivot towards renewables has been well-timed. Having sold its household energy supply and services firm at the beginning of 2020, it is not directly exposed to the current energy crisis, where even the larger operators will be running many loss-making accounts as the wholesale cost of gas and electricity soars above fixed tariffs.
Elsewhere today, British drugs giantGlaxoSmithKlinehas inked a $1 bn (£744m) deal to supply its new Covid-19 antibody treatment to the US.
The firm said the new contract brings the number of doses ordered to 750,000 worldwide.
GSK's new medicine, sotrovimab, can prevent Covid patients from becoming severely ill.
Crucially, the drug also appears to retain its efficacy against the delta variant of the virus, judging from early data, the companies said.
Hal Barron, the company's chief scientific officer, said: "Given the large number of patients who continue to become ill with Covid-19 across many regions in the US, there is an ongoing need for access to effective treatments."
Julian Jessop, an independent economist, points out that the UK's rate of inflation is not a unique problem internationally:
The announcement ofSSE'splans to sell a stake in its electricity network has come as the company reported its half-year results.
Profits for the six months to September rose from £134m to £174m, an announcement said.
But the company's renewables division was hit by poor weather in the UK during the summer, with wind levels low and dry conditions impacting its hydro business.
James Magness,director for energy and resources at Edison Group, says the numbers show "good performance" and that the investment plans leave the firm "well placed to capitalise on the amplified global interest on clean energy provision".
The FTSE 100 index is sliding as investors bet that surging inflation makes an rise in interest rates more likely.
Official figures showthe Consumer Prices Index (CPI) rose by a bigger-than-expected 4.2pc in annual terms in October, up from a 3.1pc increase in September, as household energy bills rocketed.
The internationally-focused Footsie, which is made up of big companies that make much of their money abroad, slipped 0.1pc as the sterling hit a one-week high against the dollar.
Financial markets have currently priced in a near-100pc chance that the Bank of England will raise rates from the record-low of 0.1pc to 0.25pc in December, according to Reuters.
SSE's renewable energy portfolio already includes about 4 gigawatts of wind and hydroelectric power but the company's new investment plan will aim to double that figure by 2026.
Wind power is already the biggest source of renewable energy in the UK and ministers are pushing for it to play an even bigger role in the future as part of plans to transition to a "net zero" carbon economy.
Danni Hewson, financial analyst at AJ Bell, has chipped in with some more commentary on today's inflation data, asking whether a rise in interest rates will actually help tackle the problem:
The Bank [of England’s] governor Andrew Bailey has admitted he’s worried by the figures and had given serious thought to hiking rates earlier this month.
Here's a round-up of the top stories from the Telegraph's personal finance team today:
• Where the country house price bubble could burst
• Civil servants letting tax dodgers off 'scot free', audit office warns
Under plans announced this morning, utility giant SSE says its renewable energy projects could contribute more than one quarter of the UK's goal to generate 40 gigawatts of offshore wind power by 2030.
It will be seen as a boost to Boris Johnson's plan to turn Britain into the "Saudi Arabia" of wind power.
Alistair Phillips-Davies, SSE's chief executive, says:
After all the commitments made at COP26, now is the time to deliver. Our Net Zero Acceleration Programme represents the next phase of SSE’s growth and involves a substantial ramping up of investment – equivalent to nearly £7m each day in low-carbon infrastructure – backed up by clear delivery and funding plans.
Becky O’Connor,head of pensions and savings at Interactive Investor, warns that pensioners may find it "hard to cope" with surging prices.
She points out that the state pension will only rise by 3.1pc next year after the Government temporarily ditched the triple lock:
For pensioners and others on limited incomes, this level of inflation is hard to cope with. Careful budgeting only gets you so far. Those already on the cheapest possible deals, the lowest tariffs and buying the cheapest food have very little wriggle room. There’s nowhere left to hide. You will always be spending something on food, energy and fuel if you drive and these are among the categories where prices are rising the fastest.
Simon French, chief economist at Panmure Gordon, sums up how many economists feel about the inflation data this morning:
Rishi Sunak,the Chancellor, has issued a statement reacting to the inflation data:
Many countries are experiencing higher inflation as we recover from Covid, and we know people are facing pressures with the cost of living, which is why we are taking action worth more than £4.2bn to help them.
More reaction to this morning's inflation figures is flooding in - and some experts are not pulling their punches.
Michael Hewson,chief market analyst at CMC Markets UK, says the decision by policymakers at the Bank of England to keep interest rates at a record low of 0.1pc this month now looks overly cautious:
Today’s data is a huge embarrassment for the Bank of England, whose procrastination over a modest 0.15pc rate rise earlier this month now makes it odds-on that all the pre-Christmas headlines will be of the 'Bank of England steals Christmas' variety - if they do bite the bullet and belatedly nudge rates higher.
Richard Carter, head of fixed interest at wealth manager Quilter Cheviot, also expects tough conversations at the Bank of England's next meeting of interest rate setters, the Monetary Policy Committee.
He points to Tuesday's labour market figures, which showed that unemployment fell and vacancies rose even after the end of furlough, as further evidence in the case for a rates rise:
This morning’s print suggests we should be braced for a showdown at the next MPC meeting in December, where all bets will be on a rate hike. Particularly given we now have more information on the state of the labour market in the UK.
ButDan Boardman-Weston,chief investment officer at BRI Wealth Management, also warns that policymakers should not be too hasty:
The level of inflation is going to keep getting worse over the coming months as supply stays stretched, demand stays robust and base effects technically push the rate of inflation higher. This is undoubtedly going to put pressure on the Bank of England to raise rates, which we suspect they will have to do in the next few months given the high levels of inflation and robust labour market. Nothing we see leads us to believe that this inflation is permanent and as we start heading into Spring next year the figures will start falling rapidly. The Bank of England needs to be careful that they’re not too hasty in tightening monetary policy as a policy misstep could do more harm to the economy than this transitory inflation we are witnessing.
Thomas Pugh,economist at RSM UK, is one of the first out the blocks this morning with a prediction that this morning's inflation figures add more weight to predictions that the Bank of England will raise interest rates next month.
Andrew Bailey, the Bank's Governor,has flagged surging inflation as a key concernahead of December's meeting of the Monetary Policy Committee (MPC), which backed off from a rates rise earlier this month.
But Mr Pugh said:
With inflation almost double the MPCs target of 2pc and no signs that the ending of the furlough scheme in September adversely affected the labour market, the stage seems set for the MPC to hike interest rates in December.
He said the biggest price pressures were "being felt in those areas most affected by supply chain disruptions".
Inflation is expected to peak at 5pc in April, but Mr Pugh said it is expected to "fall quickly" afterwards and return to 2pc by early 2023.
The main upwards pressure on October's inflation figure came from household costs such as the price of electricity, gas and other fuels, according to the Office for National Statistics.
It followed an increase in the cap on energy prices after wholesale prices for gas rocketed.
Further pressure on inflation came from rising prices for petrol, second-hand cars and air fares.
Good morning.
Inflation has soared to its highest level for a decade on the back of rising petrol and household energy costs.
The Consumer Prices Index (CPI) rose by 4.2pc in the year to October, up from 3.1pc the previous month.
This was a bigger rise than economists had expected and will add pressure on the Bank of England to raise interest rates.
Andrew Bailey, the Bank's Governor,warned on Monday that he is "very uneasy" about surging inflation.
1)Sex assault claims rock David Cameron's tech firmFounder of Afiniti, which employs Princess Beatrice, is accused of grooming and beating a female employee.
2)Qatar to take £100m stake in Rolls-Royce reactor ventureInvestment to help develop small nuclear reactors will deepen ties between the FTSE 100 engineering company and the gas-rich Gulf state.
3)Rolling blackouts threaten Europe this winterTrafigura chief warns that a prolonged cold snap could result in electricity shortages due to insufficient gas storage.
4)George Eustice: Working mothers can fill abattoir vacanciesEnvironment Secretary says practices at meat processing facilities have changed, allowing British staff to do jobs once taken by migrants.
5)Arm's $40bn takeover faces national security investigationCulture Secretary orders competition watchdog to examine Nvidia's deal to buy Cambridge-based tech champion Arm.
Asian markets dipped on Wednesday as a recent rally ran out of steam and investors struggled to match a strong lead from Wall Street. In early trade, Hong Kong retreated for the first time in a week, while Tokyo, Shanghai, Taipei, Seoul, Singapore, Sydney and Wellington were also in negative territory.
• Corporate:Sage Group, Safestore Holdings(full-year results); British Land, CMC Markets, Experian, SSE, Workspace(interims); Spirax-Sarco, Informa(trading update)
• Economics:Consumer price index(UK), retail price index(UK), producer price index(UK), financial stability review(EU), retail sales(US), housing starts(US) || Pound jumps against euro as UK inflation soars: Pound sterling - DANIEL SORABJI/AFP/Getty Images Pound rises against euro and dollar after inflation jumps to highest level in a decade FTSE 100 falls 0.5pc; Wall Street dips David Cameron quits tech firm after photos show employee's alleged abuse injuries Wright: Germany needs a nuclear rethink to keep the lights on without Russian gas Sign up here for our daily business briefing newsletter The pound has climbed to a one-week high versus the US dollar and a 21-month high against the euro after data showed UK inflation is running at its highest rate for a decade. Figures showing that inflation surged to 4.2pc in the year to October are stoking expectations of an interest rates rise as early as next month. It sent sterling 0.4pc higher against the euro to €1.19. Against the dollar, it edged 0.3pc higher to $1.3480, its highest level since November 10. 06:44 PM Wrapping up That's all from us today – thanks for following along. Here are some of our top stories: David Cameron quits tech firm after photos show employee's alleged abuse injuries Geordie Greig steps down as Daily Mail editor House of Fraser evicted from Oxford Street store Greggs struggles to keep vegan sausage rolls on the shelves 06:41 PM Lord Spencer's energy storage firm to list in London An energy storage company backed by City tycoon Lord Michael Spencer is planning to join the stock market to raise £20m to help develop its technology, writes Rachel Millard . Superdielectrics Group plans to join AIM to help equip its 9,200-square-foot laboratory near Cambridge and for research and development. The company says it has made a major breakthrough in the technology around capacitors, which store electrical energy, and is seeking “world leadership” in this field. It plans to float in December. Electricity storage is becoming of huge importance given the race to replace fossil fuels with intermittent sources of power such as wind and solar. Lord Spencer, 66, is a non-executive director of the company, having made his fortune setting up broker Icap, which was ultimately sold to CME Group in 2018. Story continues 06:28 PM BoE's Mann 'confident' inflation is under control Catherine Mann Bank of England inflation - Jason Alden/Bloomberg Bank of England policymaker Catherine Mann has insisted there's still confidence inflation will return to its 2pc target – despite data showing inflation has hit a 10-year high. Rising costs for household goods and energy have sparked fears of a threat to the UK's economic recovery. The central bank wrongfooted markets by holding interest rates steady earlier this month, but an increase in December's meeting is now firmly expected. Ms Mann said she was confident that the price rises remained temporary and that the Bank would be able to rein inflation in to its 2pc target. She said: "We feel confident that they believe that the Bank of England can and will - those are important ingredients right, can and will - undertake the appropriate policy response to bring inflation back to 2pc." 06:09 PM Glencore offloads Australian mine in £540m deal Glencore is selling a major copper and gold mine in Australia for A$1bn (£539m) to focus on cheaper sites elsewhere. My colleague Rachel Millard reports: The FTSE 100 miner’s Ernest Henry mine in Queensland will be taken over by Evolution Mining, its partner there for the past five years. The mine is expected to produce up to 60,000 tonnes of copper and 830,000 ounces of gold next year. Glencore will buy the copper concentrate produced by Ernest Henry but will concentrate on its other "lower cost, long life" copper mines. Credit Suisse said the sale was "positive" for Glencore given the strong price and limited remaining life of the mine. 05:49 PM Daily Mail editor Geordie Greig steps down Geordie Greig Daily Mail - ITV Daily Mail editor Geordie Greig is stepping down from the role after three years. Mr Greig, who took up the role in September 2018 after replacing Paul Dacre, will step down at the end of the week. He will be replaced by Ted Verity, who is currently editor of the Mail on Sunday. Scoop: Daily Mail editor Geordie Greig stepping down, replaced by Ted Verity — Mark Di Stefano (@MarkDiStef) November 17, 2021 05:31 PM FTSE drops after inflation blow The FTSE 100 has finished the day firmly in the red after new figures showed inflation soared to its highest level in a decade last month. The blue-chip index slid 0.5pc to 7,291 points while the pound pushed to new highs against the dollar and euro. London Stock Exchange Group was the biggest loser, dropping just over 6pc, while SSE fell 4.3pc after its bet on wind power failed to impress investors. Major exporters such as Unilever , Reckitt Benckiser and British American Tobacco also dragged the index lower. Sage Group bucked the downbeat trend, jumping 9.7pc after saying it would increase its dividend. The domestically-focused FTSE 250 also fell 0.5pc, led by a 10.5pc drop for CMC Markets. 05:10 PM Events group Informa holds firm over 'steady' improvement Events and exhibitions group Informa has held its guidance for the full year as it pointed to a “steadily improving” rate of bookings for live events. The FTSE 100 firm said it still expects revenues of around £1.8bn and adjusted operating profit of £375m for the full year. Informa said it had held more than 250 events so far, with further pick-up in participation expected as the year progresses. Investors were unimpressed, however, with shares falling 2.9pc. Stephen A Carter, chief executive of Informa, said: We will complete the 2021 transition year in a stronger place than we anticipated at the start of the year and are now single-mindedly focused on growth and acceleration through to 2024. 04:58 PM Lidl to become UK's highest-paying supermarket Lidl is to become Britain’s highest-paying supermarket as it prepares to increase hourly wages from March next year, writes Laura Onita. The German discounter is increasing hourly pay from £9.50 to £10.10 outside London and from £10.85 to £11.30 within the M25. The move comes after official figures this week suggested that employers are still struggling to fill roles amid rising inflation. UK inflation has increased to its highest level in a decade amid a severe cost of living squeeze from soaring household energy bills. Many companies are being forced to bump up pay to fill vacancies and retain existing staff, with official data this week revealing more than 1m people moved from one job to another in the three months to September, driven by resignations. Earlier this year, Morrisons became the first UK supermarket to pay staff at least £10 an hour. 04:47 PM Collapsed airline Flybe to return to the skies Flybe airline - Peter Byrne/PA Wire Regional carrier Flybe, which collapsed at the onset of the pandemic 20 months ago, is set to return to the skies in 2022. The company said it would start flying to domestic and EU destinations early next year from a new base in Birmingham. It did not give any details about routes. Flybe, which was already in financial difficulty before Covid hit, collapsed in March 2020 when loan talks with the government fell through. It was bought out last October by Thyme Opco. 04:33 PM UK threatens crackdown on Facebook and Google Boris Johnson has warned of tougher punishments for tech giants such as Facebook and Google if they fail to stamp out harmful material such as pornography and terrorist content. Speaking in front of a parliamentary committee, the Prime Minister said it's time Big Tech “realise that they cannot simply think of themselves as neutral pieces of infrastructure; they are publishers and responsible for what’s on their systems”. He added: “We want the strongest possible sanctions against people running online companies allowing a torrent of hateful stuff on their networks.” The Government is currently consulting on the Online Harms Bill, which will look to hold internet companies liable for the material published to their sites. Companies could be fined as much as 10pc of annual global revenue if they breach regulations, while Culture Secretary Nadine Dorries has indicated she is examining jail sentences of three to six months for criminal liability of executives. 04:24 PM Pasta panic for Italians as inflation pushes up prices pasta inflation Italy - BURCU ATALAY TANKUT Italians are facing the troubling prospect of paying more for their bowl of spaghetti as prices for staples such as pasta, tomatoes and olive oil continue to rise. The cost of tomatoes jumped 12pc last month compared to a year ago, according to official data. That follows an 18pc leap in September. Pasta prices rose almost 5pc, compounded by a drought that reduced North American production of durum wheat – a key ingredient. Rebounding demand, supply chain troubles and soaring energy prices have all fanned inflation in recent months. It comes after fresh UK data showed inflation last month soared to its highest level for a decade. 04:13 PM Numis reports itself to City watchdog over THG note THG Numis note Myprotein - RYAN EDY There's trouble brewing at investment bank Numis, which is said to have reported itself to the City watchdog after making – and then retracting – claims about accounting irregularities at THG. Sky News reports that a Numis analyst issued a bearish note last week accusing the troubled ecommerce group of "a lack of clarity" and casting doubts over its Ingenuity tech division. The memo advised clients to reduce their holdings in THG and suggested shares were overvalued by more than a fifth. Within 24 hours, the bank apologised for "misrepresentations" in the commentary and resent the note, removing the allusion to "irregularities in accounting". Numis has since referred itself to the Financial Conduct Authority over the potentially embarrassing situation. 03:54 PM Wall Street dips on interest rates uncertainty Time to check in on US stocks, which are languishing in the red this afternoon amid jitters about an early interest rate hike by the Federal Reserve. Target was among the retailers to report upbeat results thanks to an earlier start to Christmas shopping, though it dropped 4.8pc as margins were hit by supply chain troubles. Meanwhile, Visa fell 5.4pc after Amazon said it would stop accepting UK credit cards made by the company due to high transaction fees. The S&P 500 is trading down 0.2pc, while the Nasdaq is down 0.1pc. The Dow Jones is trailling 0.5pc. 03:44 PM Gas prices jump once again on Nord Stream worries Gas prices jumped to their highest level in a month on Wednesday as delays to Russia's controversial Nord Stream 2 pipeline stoked fears of a winter supply crunch. Benchmark Dutch prices rose as much as 8.1pc, while the UK equivalent was up just over 5pc, extending Tuesday's gains. It comes after Germany’s energy regulator suspended the certification process for the Nord Stream 2 link until it creates a local subsidiary for the section of the pipeline in the country. The move fuelled fears of winter shortages at a time when supplies are already tight and prices have soared to record highs. In a further blow, short-term weather forecasts point to temperatures below seasonal norms in Europe over the next few weeks. 03:37 PM Greggs gets flakey over sausage rolls Greggs bakery sausage roll McColls - REUTERS/Phil Noble/File Photo Bad news now for Greggs fans, after the baker warned it's struggling to keep its hot shelves stocked with vegan sausage rolls and bean and cheese melts amid lingering supply chain turmoil. Hannah Boland and Laura Onita have the details: The high street bakery chain said it was facing “temporary interruptions” to the supply of certain products across the UK, resulting in some stores running out of the items. Vegan sausage rolls are among the products which Greggs said had been particularly affected, with a spokesperson saying: "Some shops may not have them or may not have them throughout the day. It varies". It also told customers on Twitter that it was experiencing supply issues with sweeteners and sugar, as well as with its sausage, bean and cheese melts. It said it was "working hard" to get them back in stock. Separately McColl’s, whose wholesale supplier is Morrisons, warned of food and alcohol shortages in the run up to Christmas. Revenues have been dented due to a lack of drivers, understaffed warehouses and a shortage of key products, the company said. 03:19 PM Russia's Gazprom tries to get Nord Stream 2 pipeline back on track After Tuesday's reports that German regulators had delayed approval of Russia's new gas pipeline, it looks like the company behind the project is trying to course-correct quickly. State-owned Russian firm Gazprom is planning to set up a fully owned German subsidiary in a bid to win approval for the controversial Nord Stream 2 link, according to Bloomberg. It is an attempt to meet EU rules requiring natural gas producers to be legally separate from entities transporting the fuel, and have the operator registered in the bloc. Once completed, it will also allow the restart of certification of the 760-mile pipeline halted on Tuesday. However, Zongqiang Luo, a gas markets analyst at Norwegian consultants Rystad Energy AS, said he now estimates approval will be delayed until April at the earliest. 03:11 PM House of Fraser to shut flagship Oxford Street store House of Fraser Oxford Street House of Fraser is to close its flagship Oxford Street store after the firm's landlord served notice on the retailer. The department store chain, which is owned by Mike Ashley's Frasers Group, said it will move out of the London branch in January. It comes after the owner of the site, Public Properties Establishment, secured planning approval to carry out a £100m revamp of the building. The closure comes after the Debenhams store in Oxford Street shut earlier this year as well. A Frasers Group spokesman said: It is with regret that we have been served notice by the landlord to close House of Fraser, Oxford Street - following granted planning permission to redevelop the site. Since acquiring in 2018, despite challenges faced, we have worked collaboratively with the landlord to keep the store trading 3 years longer than what was initially proposed by the previous owner. As a business, who is continuing to invest significantly into the British high street, we feel it’s only fair to recognise and request an urgent review of the current archaic business rates, which continue to be astonishingly outdated. If business rates were reviewed it would support the future of House of Fraser. Without this, further store closures are inevitable. We would like to take this opportunity to thank our staff for their hard work and dedication. 02:54 PM Julian Jessop: Keeping interest rates at current levels "no longer defensible" Julian Jessop , an independent economist, has predicted that the Bank of England will have to raise interest rates to 0.25pc next month if it is "serious about keeping inflation down". His comments follow this morning's official data, which showed that the Consumer Price Index (CPI) measure of inflation rose by 4.2pc in the year to October - the biggest jump for a decade. Writing for the Telegraph, Mr Jessop says: The decision to duck the opportunity to raise rates in November was largely explained by near-term uncertainty about the labour market and the impact of the end of the furlough scheme. This always seemed a little lame, given the evidence from pretty much every business survey, but was just about defensible. No longer. You can read the full piece here . 02:36 PM Days after Cop26 ends... Biden auctions new oil drilling licences in Gulf of Mexico US President Joe Biden - NICHOLAS KAMM/AFP Joe Biden's US administration is set to auction new oil drilling rights across the Gulf of Mexico even as the White House tries to shift away from fossil fuels, Bloomberg reports. It comes after President Biden boasted at the Cop26 climate summit that America was "not only back at the table but hopefully leading by the power of our example". Bloomberg adds: The sale will take place despite pleas from environmental activists for its cancellation, since leases sold in the auction could yield decades of crude they say a warming world cannot afford to burn. The auction is unlikely to help President Joe Biden tame rising oil and gasoline prices that have set off political alarms at the White House. Leases sold Wednesday might only lead to oil production in five to 10 years -- if they yield any, since discoveries aren’t guaranteed. Environmental activists have pushed the administration to cancel the sale, arguing the auction clashes with US commitments to slash greenhouse gas emissions that Biden reinforced during the just-concluded COP26 climate summit in Scotland. 02:28 PM Apple lets customers fix their own iPhones for the first time Apple iPhone - REUTERS/Tatyana Makeyeva Apple is to start selling iPhone spare parts to the general public for the first time so they can carry out repairs at home. The US company said parts, tools and manuals will be available for the iPhone 12 and iPhone 13 at first, then for some Mac computers later on. Before now, only Apple itself or repair firms approved by the company had access to these. Apple's move comes after years of pressure from consumer groups, which have argued that Apple's restrictions on repairs reduce competition and result in higher prices for consumers. Jeff Williams, Apple’s chief operating officer, said: Creating greater access to Apple genuine parts gives our customers even more choice if a repair is needed. In the past three years, Apple has nearly doubled the number of service locations with access to Apple genuine parts, tools, and training, and now we’re providing an option for those who wish to complete their own repairs. 02:11 PM Pensioners "left without protection" as inflation surges Baroness Altman , a Tory peer and pensions expert, has warned that the inflation revealed by today's Consumer Prices Index (CPI) data will mean many pensioners will "struggle to make ends meet". She is critical of the Government's decision this week to temporarily scrap the pensions triple lock, which will leave millions worse off next year. Ministers instead pushed through plans to increase state pensions by a below-inflation rate of 3.1pc next year. Baroness Altman said: Pensioner poverty was already rising before the pandemic and the inflation numbers will leave more in desperate straits as the try to pay their basic bills during the coming months. Today's CPI inflation numbers confirm again the cost of living crisis already engulfing pensioners and it will continue to become clear that the shameful decision to increase their state pensions by just 3.1pc next year will plunge more elderly people into poverty. The House of Lords gave the Government and MPs the chance to think again and they refused to accept our compromise proposals that would correct for the anomalies of Covid impacts on the earnings and CPI statistics. Instead they have ploughed ahead with the clearly insufficient number which was artificially lowered by the pandemic policies. Pensioners have been left without the protection they were promised and more will struggle to make ends meet as inflation keeps rising. 12:50 PM Bitcoin and ether continue to slide Bitcoin ether - REUTERS/Edgar Su Bitcoin and ether are continuing to slide amid fears the world's two largest cryptocurrencies could be hit by new tax rules in the US. Bitcoin has been trading at around $60,000, down from its record high of $69,000 set earlier this month. Meanwhile, ether was at about $4,200, below its peak of $4,868. Analysts have also blamed profit-taking for some of the drop, as well as inflation in the US and a directive to state-owned firms in China not to engage in cryptocurrency mining. Bitcoin has doubled in value since January. But Craig Erlam, senior market analyst at online broker Oanda, said the digital currency could suffer severe drops if its falls below the symbolic level of $58,000. 12:33 PM McColls's Retail tumbles by 35pc after pre-Christmas warning on supply chains Shares in McColl’s Retail Group have tumbled by a record 35pc after the company flagged worsening supply chain problems ahead of Christmas. In a trading update, McColl’s slashed its profit forecast for the year, blaming a lack of lorry drivers, understaffed warehouses and product shortages. The stock has since pared some of its earlier losses but remains down by about 14pc. McColl's said: While we continue to work collaboratively with our wholesale partner, Morrisons, to lessen the effect of the disruption, we have been unable to fully mitigate the impact to stores, leading to significantly lower revenues than initially anticipated. FY21 adjusted EBITDA pre IFRS 16 is now expected to be in the range of £20m to £22m. The Group continues to monitor the situation with its key stakeholders, including its lending banks, who remain supportive. 12:25 PM Germany weighs working from home again in face of rising Covid-19 cases Germany may tell companies to let their staff work from home again under tough measures to tackle a winter surge in coronavirus cases, it has been reported. Bloomberg has this on legislation being considered in Berlin: Germany’s likely next ruling coalition is pushing ahead with tougher measures to tackle record increases in coronavirus cases, including requiring companies to let employees work from home where possible. The proposed law in some cases limits access to the workplace to people who are vaccinated, recovered or provide a negative test, according to parliamentary documents published Wednesday. The Social Democrats, Greens and Free Democrats aim to use their Bundestag majority to get it through the lower house of parliament on Thursday. “The current pandemic situation in Germany is dramatic,” Chancellor Angela Merkel told a conference of municipal leaders on Wednesday. “The fourth wave is hitting our country with full force.” The new legislation, which replaces existing emergency powers that will expire on Nov. 25, is designed to provide a nationwide framework while giving regions room to tighten restrictions in coronavirus hot spots where needed. 12:19 PM Inflation: How to protect your investments, property savings and pensions Inflation hit 4.2pc in October and there will be growing unease at the Bank of England that rapidly rising prices are causing living costs to spiral. It means there will be pressure on policymakers to increase interest rates in December. But how much of a risk is rising inflation, and how can you protect your finances? My colleagues at Telegraph Money have the answers. 12:13 PM British Land swings back into profit as workers return to cities We've also had half-year results from commercial landlord British Land today, which returned to a profit after enduring a tough time during the pandemic. The upbeat results come after rival LandSec also swung back into the black on Tuesday, suggesting the UK's property giants are finally turning the corner on Covid. They have had to battle low rent collection rates and steep declines in valuation during the pandemic. But British Land, which owns the Meadowhall shopping centre in Sheffield and the Broadgate office development in London, has now reported a £370m profit for the six months to September 30, up from a loss of £730m a year earlier. Simon Carter, the company's chief executive, says this was partly driven by the growing return of white collar workers to the office: Demand is firmly focused on the very best space, with an emphasis on sustainability, wellness, shared and flexible space and excellent transport connections. 11:59 AM David Cameron quits tech firm after photos show employee's alleged abuse injuries Tatiana Spottiswoode images - House Committee on the Judiciary David Cameron has quit his role at the software company Afiniti after its founder was accused of sexual abuse against a female employee. A spokesman for the former prime minister said on Wednesday that he was resigning as chairman of the company’s advisory board with immediate effect, and strongly disagreed with Afiniti’s response to the allegations. It came after Tatiana Spottiswoode, a former employee at the Bermuda-based artificial intelligence company, alleged a pattern of harassment and assault from Zia Chishti, Afiniti’s founder and chief executive. Mr Chishti denies the claims. The US House of Congress has now released pictures (above) allegedly showing the injuries suffered by Ms Spottiswoode. More details here . 11:51 AM Greggs vegan sausage roll hit by supply chain woes Greggs vegan sausage roll The vegan sausage roll sold by Greggs , the baker, has become the latest product to succumb to supply chain disruption across Britain. A light puff pastry filled with a Quorn meat substitute, it was launched by the high street chain in 2019 and has since became a popular alternative to its classic sausage roll. But Greggs has now warned customers it is suffering nationwide "temporary interruptions" to supplies of products - including the vegan-friendly pastries. A spokesman said some shops "may not have them, or may not have them throughout the day. It varies." The shortage follows panic buying at Britain's fuel pumps, soaring heating prices and limited supplies of crisps. Greggs' stores in London have been hit particularly hard, with branches in Twickenham, Richmond, Earls Court, Canary Wharf and South Woodford among those that have run out of vegan sausage rolls this week. 11:41 AM The most hawkish central bank in western Europe? Iceland raises interest rates While Andrew Bailey and the Bank of England may have held off from raising interest rates earlier this month, Iceland’s central bank is... breaking the ice, so to speak. The Reykjavík-based institution (Seðlabanki Íslands ) has announced its biggest rate rise since the coronavirus crisis struck in a bid to quell inflation and the country's overheating housing market. Policymakers lifted the seven-day term deposit rate by 50 basis points to 2pc, the highest level since March 2020, according to Bloomberg. The move cements Icelandic central bank’s position as the most hawkish in western Europe after it became the first to raise borrowing costs since the pandemic struck. 11:33 AM House prices jump 11.8pc in September as buyers rush to complete purchases Gabriella Dickens , of economist Pantheon Macroeconomics, says the big annual jump in house prices during September was due to buyers rushing to complete deals before the stamp duty holiday was completely phased out in October. Those who completed by the end of the month saved up to £2,500 in tax, my colleague Rachel Mortimer reports. 11:25 AM Hong Kong Disneyland closed after single visitor tests positive for Covid Hong Kong Disneyland Park - AP Photo/Kin Cheung Hong Kong's Disneyland Park has been closed for a day after authorities found one person who visited over the weekend was infected with the coronavirus. The site, which is majority-owned by the city government with Walt Disney a minority partner, said the closure was out of "an abundance of caution" and advised visitors to reschedule. The park has been forced to closed multiple times for prolonged periods since the start of the pandemic. 11:17 AM Sterling "could reach highs not seen since 2016" With today's inflation figures having lifted the pound to its highest level since February 2020 against the euro, analysts say sterling's good fortunes could continue. Victoria Scholar , head of investment at Interactive Investor, says: While euro-sterling has been trading in a descending trendline since April, losses have accelerated in November breaking below support at £0.85 with the next major test at around £0.82. A move down towards £0.82 would see the pound strengthen to highs not seen since 2016. 10:51 AM Amazon row with Visa is "ploy to cut fees" Money expert Martin Lewis has floated a theory on what is behind the bust-up between Amazon and Visa: Amazon to stop allowing people to use Visa credit cards from Jan (Visa debit, mastecard & amex still fine) It's because Visa is increasing transaction rates now the EU cap no longer applies (post Brexit). It's a possible negotiating tactic for Amazon to gets its fees reduced. — Martin Lewis (@MartinSLewis) November 17, 2021 10:45 AM Visa hits back at Amazon plans to ban credit card payments Visa has hit back at Amazon's plans to stop customers paying with Visa credit cards due to "high" fees. A spokesman for the firm said it was "very disappointed" that Amazon was threatening to "restrict consumer choice" by banning its cards. A Visa spokesman said: When consumer choice is limited, nobody wins. We have a long-standing relationship with Amazon, and we continue to work toward a resolution. Roughly nine in 10 British shoppers use Amazon, according to Mintel, a research firm, with around 40pc using its Prime subscription service. Amazon has declined to reveal how many customers will be affected. My colleague Will Kirkman has the details . 10:27 AM House prices gain £7,000 in final month of stamp duty holiday House prices rise to record in final month of stamp duty holiday relief - Andrew Matthews/PA Wire House prices soared to a record high in the final month of the stamp duty holiday after the average property gained £7,000 in the space of one month, my colleague Rachel Mortimer reports. Prices across Britain rose by 11.8pc in the year to September, up from 10.2pc in August. Price tags hit £270,000, the biggest average ever recorded by the Office for National Statistics and £6,000 higher than the previous record set in June of this year. September marked the final month buyers could benefit from savings under the stamp duty holiday. Those who completed by the end of the month could save up to £2,500 in tax, although a “race for space” amongst buyers moving to bigger properties has also been credited with the huge price jumps. However, the picture is not all rosy, with some now warning the market is in a bubble that could be about to burst . 10:21 AM Pound surges against euro and dollar on surging inflation figures The pound has climbed to a one-week high versus the US dollar and a 21-month high against the euro after data showed British inflation is running at its highest rate for a decade. Figures showing that inflation surged to 4.2pc in the year to October are stoking expectations of an interest rates rise as early as next month. It sent sterling 0.4pc higher against the euro to €1.19. Against the dollar, it edged 0.3pc higher to $1.3480, its highest level since November 10. Reacting to the data, analysts at Mizuho said: This morning’s UK inflation data was stronger than expected and, alongside Tuesday’s labour market data, further strengthens the case for a December hike. 10:13 AM Amazon in row with credit card provider Visa over "high" fees Amazon A row has erupted between Amazon and Visa, with the internet shopping giant accusing the latter of charging card fees that are too high. As a result, Amazon has told customers it will stop accepting payments made using UK Visa credit cards on its site from January 19. The US giant said it has made the decision due to "the high fees Visa charges for processing credit card transactions". Customers will still be able to use debit cards, including Visa, and non-Visa credit cards, it said. Here's what Amazon has said: The cost of accepting card payments continues to be an obstacle for businesses striving to provide the best prices for customers. These costs should be going down over time with technological advancements, but instead they continue to stay high or even rise. As a result of Visa's continued high cost of payments, we regret that Amazon.co.uk will no longer accept UK-issued Visa credit cards as of January 19 2022. With the rapidly changing payments landscape around the world, we will continue innovating on behalf of customers to add and promote faster, cheaper, and more inclusive payment options to our stores across the globe. Visa has not yet responded to the claims, according to the Press Association. 09:59 AM SSE pivot to renewables "well timed" Russ Mould , investment director at AJ Bell, points out that SSE's decision to exit the household energy supply market last year now looks prescient in the light of huge pressure rising gas prices are putting on other suppliers. But he warns the planned investment in wind and other renewables may not be enough to get activist Elliott off the company's back: SSE’s pivot towards renewables has been well-timed. Having sold its household energy supply and services firm at the beginning of 2020, it is not directly exposed to the current energy crisis, where even the larger operators will be running many loss-making accounts as the wholesale cost of gas and electricity soars above fixed tariffs. The company’s first half results saw the company double down on its commitment to clean energy. This is unlikely to be sufficient to get activist investor Elliott off its back, which having joined the shareholder register earlier this year has been reportedly pushing for SSE to take more radical action and separate the renewables assets from the grid business. 09:22 AM GSK inks $1bn deal to supply Covid drug to US Glaxosmithkline - BEN STANSALL/AFP via Getty Images Elsewhere today, British drugs giant GlaxoSmithKline has inked a $1 bn (£744m) deal to supply its new Covid-19 antibody treatment to the US. The firm said the new contract brings the number of doses ordered to 750,000 worldwide. GSK's new medicine, sotrovimab, can prevent Covid patients from becoming severely ill. Crucially, the drug also appears to retain its efficacy against the delta variant of the virus, judging from early data, the companies said. Hal Barron, the company's chief scientific officer, said: "Given the large number of patients who continue to become ill with Covid-19 across many regions in the US, there is an ongoing need for access to effective treatments." 09:13 AM Brexit "not behind inflation" Julian Jessop, an independent economist, points out that the UK's rate of inflation is not a unique problem internationally: Usual suspects may look at the UK #inflation data and cry #Brexit !, but it's the same (or worse) in the EU (as well as US)... UK headline rate 4.2%, #energy 22.3% Euro area headline 4.1%, energy 23.5% (and #food price inflation in euro area is actually higher) pic.twitter.com/Ot7XOwRfxv — Julian Jessop (@julianHjessop) November 17, 2021 09:08 AM Half-year profits at SSE rise to £174m The announcement of SSE's plans to sell a stake in its electricity network has come as the company reported its half-year results. Profits for the six months to September rose from £134m to £174m, an announcement said. But the company's renewables division was hit by poor weather in the UK during the summer, with wind levels low and dry conditions impacting its hydro business. James Magness, director for energy and resources at Edison Group, says the numbers show "good performance" and that the investment plans leave the firm "well placed to capitalise on the amplified global interest on clean energy provision". 08:52 AM FTSE 100 down as inflation surges The FTSE 100 index is sliding as investors bet that surging inflation makes an rise in interest rates more likely. Official figures show the Consumer Prices Index (CPI) rose by a bigger-than-expected 4.2pc in annual terms in October, up from a 3.1pc increase in September, as household energy bills rocketed. The internationally-focused Footsie, which is made up of big companies that make much of their money abroad, slipped 0.1pc as the sterling hit a one-week high against the dollar. Financial markets have currently priced in a near-100pc chance that the Bank of England will raise rates from the record-low of 0.1pc to 0.25pc in December, according to Reuters. 08:42 AM SSE's big bet on wind power SSE's renewable energy portfolio already includes about 4 gigawatts of wind and hydroelectric power but the company's new investment plan will aim to double that figure by 2026. Wind power is already the biggest source of renewable energy in the UK and ministers are pushing for it to play an even bigger role in the future as part of plans to transition to a "net zero" carbon economy. 08:37 AM Would an interest rates rise help with inflation? Danni Hewson, financial analyst at AJ Bell, has chipped in with some more commentary on today's inflation data, asking whether a rise in interest rates will actually help tackle the problem: The Bank [of England’s] governor Andrew Bailey has admitted he’s worried by the figures and had given serious thought to hiking rates earlier this month. The question is what good would it do. Very little in the immediate aftermath seems to be the answer especially as a rate rise wouldn’t solve the global chip shortage, geo-political tensions or shortages of crucial supplies like gas. But a rate rise will send a signal, it might give employers a slight pause before they plump for the cheque book to solve their recruitment issues. Yesterday’s jobs figures coupled with today’s inflation numbers could be a recipe for stagflation, a situation no government, no country wants to experience. The Bank doesn’t want to act too soon, to undermine recovery, or to act if its move will only add to the pain for cash strapped consumers, but it will now be under increased scrutiny. 08:33 AM Today in Telegraph Money Here's a round-up of the top stories from the Telegraph's personal finance team today: Where the country house price bubble could burst Civil servants letting tax dodgers off 'scot free', audit office warns 08:29 AM SSE "to contribute more than 25pc of UK wind target" Under plans announced this morning, utility giant SSE says its renewable energy projects could contribute more than one quarter of the UK's goal to generate 40 gigawatts of offshore wind power by 2030. It will be seen as a boost to Boris Johnson's plan to turn Britain into the "Saudi Arabia" of wind power. Alistair Phillips-Davies , SSE's chief executive, says: After all the commitments made at COP26, now is the time to deliver. Our Net Zero Acceleration Programme represents the next phase of SSE’s growth and involves a substantial ramping up of investment – equivalent to nearly £7m each day in low-carbon infrastructure – backed up by clear delivery and funding plans. Today’s announcement will maximise our long-term potential and capture growth opportunities during a critical time for the energy sector, creating jobs, delivering on government ambitions, and creating value for society and shareholders . 08:08 AM On this level of inflation, pensioners "could find it hard to cope" Becky O’Connor, head of pensions and savings at Interactive Investor, warns that pensioners may find it "hard to cope" with surging prices. She points out that the state pension will only rise by 3.1pc next year after the Government temporarily ditched the triple lock: For pensioners and others on limited incomes, this level of inflation is hard to cope with. Careful budgeting only gets you so far. Those already on the cheapest possible deals, the lowest tariffs and buying the cheapest food have very little wriggle room. There’s nowhere left to hide. You will always be spending something on food, energy and fuel if you drive and these are among the categories where prices are rising the fastest. The state pension will rise next year by September’s inflation figure of 3.1pc after the Government stuck with the plan to ditch the earnings link of the triple lock guarantee for a year. Economists had predicted that September’s inflation rate would look low compared to the inflation on the cards this winter and into 2022. It now looks way behind the rising trend. Those dependent on the state pension will therefore find the essentials they need for basic living harder to afford. 07:59 AM Interest rates: "If jobs data was the cake, inflation is the cherry" Simon French , chief economist at Panmure Gordon, sums up how many economists feel about the inflation data this morning: UK CPI inflation up to 4.2%YoY in October. Half of the uptick resulting from the increase to OFGEM price cap. Inflation in line with inflation dynamics seen in other developed markets (EU +4.1%). If yesterday jobs data was the cake for Dec BoE rate increase, this AM is the cherry pic.twitter.com/XpdW0STRws — Simon French (@shjfrench) November 17, 2021 07:57 AM Rishi Sunak: We know people are facing pressures Rishi Sunak the Chancellor - UK Parliament/Jessica Taylor/PA Wire Rishi Sunak, the Chancellor, has issued a statement reacting to the inflation data: Many countries are experiencing higher inflation as we recover from Covid, and we know people are facing pressures with the cost of living, which is why we are taking action worth more than £4.2bn to help them. We're helping people get into work, progress and keep more of what they earn, through our Plan for Jobs and by effectively cutting taxes for workers receiving Universal Credit. We are also providing more immediate support, including through the £500m Household Support Fund for the most vulnerable families, fuel and alcohol duty freezes, and the energy price cap. 07:52 AM Inflation data "an embarrassment" for Bank of England More reaction to this morning's inflation figures is flooding in - and some experts are not pulling their punches. Michael Hewson, chief market analyst at CMC Markets UK, says the decision by policymakers at the Bank of England to keep interest rates at a record low of 0.1pc this month now looks overly cautious: Today’s data is a huge embarrassment for the Bank of England, whose procrastination over a modest 0.15pc rate rise earlier this month now makes it odds-on that all the pre-Christmas headlines will be of the 'Bank of England steals Christmas' variety - if they do bite the bullet and belatedly nudge rates higher. Richard Carter , head of fixed interest at wealth manager Quilter Cheviot, also expects tough conversations at the Bank of England's next meeting of interest rate setters, the Monetary Policy Committee. He points to Tuesday's labour market figures, which showed that unemployment fell and vacancies rose even after the end of furlough, as further evidence in the case for a rates rise: This morning’s print suggests we should be braced for a showdown at the next MPC meeting in December, where all bets will be on a rate hike. Particularly given we now have more information on the state of the labour market in the UK. Some may say that the heightened inflation is evidence that the Bank of England should have acted already and started the process of tightening monetary policy. But really what’s causing the heightened price increases in the energy market is a perfect storm of factors that are all feeding through at the same time. But Dan Boardman-Weston, chief investment officer at BRI Wealth Management, also warns that policymakers should not be too hasty: The level of inflation is going to keep getting worse over the coming months as supply stays stretched, demand stays robust and base effects technically push the rate of inflation higher. This is undoubtedly going to put pressure on the Bank of England to raise rates, which we suspect they will have to do in the next few months given the high levels of inflation and robust labour market. Nothing we see leads us to believe that this inflation is permanent and as we start heading into Spring next year the figures will start falling rapidly. The Bank of England needs to be careful that they’re not too hasty in tightening monetary policy as a policy misstep could do more harm to the economy than this transitory inflation we are witnessing. 07:44 AM "Stage set" for interest rates to rise in December Thomas Pugh, economist at RSM UK, is one of the first out the blocks this morning with a prediction that this morning's inflation figures add more weight to predictions that the Bank of England will raise interest rates next month. Andrew Bailey, the Bank's Governor, has flagged surging inflation as a key concern ahead of December's meeting of the Monetary Policy Committee (MPC), which backed off from a rates rise earlier this month. But Mr Pugh said: With inflation almost double the MPCs target of 2pc and no signs that the ending of the furlough scheme in September adversely affected the labour market, the stage seems set for the MPC to hike interest rates in December. He said the biggest price pressures were "being felt in those areas most affected by supply chain disruptions". Inflation is expected to peak at 5pc in April, but Mr Pugh said it is expected to "fall quickly" afterwards and return to 2pc by early 2023. 07:37 AM What is contributing to inflation? The main upwards pressure on October's inflation figure came from household costs such as the price of electricity, gas and other fuels, according to the Office for National Statistics. It followed an increase in the cap on energy prices after wholesale prices for gas rocketed. Further pressure on inflation came from rising prices for petrol, second-hand cars and air fares. 07:26 AM Inflation surges to highest level in a decade on fuel and energy costs Good morning. Inflation has soared to its highest level for a decade on the back of rising petrol and household energy costs. The Consumer Prices Index (CPI) rose by 4.2pc in the year to October, up from 3.1pc the previous month. This was a bigger rise than economists had expected and will add pressure on the Bank of England to raise interest rates. Andrew Bailey, the Bank's Governor, warned on Monday that he is "very uneasy" about surging inflation . 5 things to start your day 1) Sex assault claims rock David Cameron's tech firm Founder of Afiniti, which employs Princess Beatrice, is accused of grooming and beating a female employee. 2) Qatar to take £100m stake in Rolls-Royce reactor venture Investment to help develop small nuclear reactors will deepen ties between the FTSE 100 engineering company and the gas-rich Gulf state. 3) Rolling blackouts threaten Europe this winter Trafigura chief warns that a prolonged cold snap could result in electricity shortages due to insufficient gas storage. 4) George Eustice: Working mothers can fill abattoir vacancies Environment Secretary says practices at meat processing facilities have changed, allowing British staff to do jobs once taken by migrants. 5) Arm's $40bn takeover faces national security investigation Culture Secretary orders competition watchdog to examine Nvidia's deal to buy Cambridge-based tech champion Arm. What happened overnight Asian markets dipped on Wednesday as a recent rally ran out of steam and investors struggled to match a strong lead from Wall Street. In early trade, Hong Kong retreated for the first time in a week, while Tokyo, Shanghai, Taipei, Seoul, Singapore, Sydney and Wellington were also in negative territory. Coming up today Corporate: Sage Group, Safestore Holdings (full-year results) ; British Land, CMC Markets, Experian, SSE, Workspace (interims) ; Spirax-Sarco, Informa (trading update) Economics: Consumer price index (UK) , retail price index (UK) , producer price index (UK) , financial stability review (EU) , retail sales (US) , housing starts (US) || Pound jumps against euro as UK inflation soars: • Pound rises against euro and dollar afterinflation jumps to highest level in a decade
• FTSE 100 falls 0.5pc; Wall Street dips
• David Cameron quits tech firm after photos show employee's alleged abuse injuries
• Wright:Germany needs a nuclear rethink to keep the lights on without Russian gas
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The pound has climbed to a one-week high versus the US dollar and a 21-month high against the euro after data showed UK inflation is running at its highest rate for a decade.
Figures showing that inflation surged to 4.2pc in the year to October are stoking expectations of an interest rates rise as early as next month.
It sent sterling 0.4pc higher against the euro to €1.19. Against the dollar, it edged 0.3pc higher to $1.3480, its highest level since November 10.
That's all from us today – thanks for following along. Here are some of our top stories:
• David Cameron quits tech firm after photos show employee's alleged abuse injuries
• Geordie Greig steps down as Daily Mail editor
• House of Fraser evicted from Oxford Street store
• Greggs struggles to keep vegan sausage rolls on the shelves
An energy storage company backed by City tycoon Lord Michael Spencer is planning to join the stock market to raise £20m to help develop its technology, writesRachel Millard.
Superdielectrics Group plans to join AIM to help equip its 9,200-square-foot laboratory near Cambridge and for research and development.
Bank of England policymaker Catherine Mann has insisted there's still confidence inflation will return to its 2pc target – despite data showing inflation has hit a 10-year high.
Rising costs for household goods and energy have sparked fears of a threat to the UK's economic recovery.
The central bank wrongfooted markets by holding interest rates steady earlier this month, but an increase in December's meeting is now firmly expected.
Ms Mann said she was confident that the price rises remained temporary and that the Bank would be able to rein inflation in to its 2pc target.
She said: "We feel confident that they believe that the Bank of England can and will - those are important ingredients right, can and will - undertake the appropriate policy response to bring inflation back to 2pc."
Glencore is selling a major copper and gold mine in Australia for A$1bn (£539m) to focus on cheaper sites elsewhere.
My colleagueRachel Millardreports:
The FTSE 100 miner’s Ernest Henry mine in Queensland will be taken over by Evolution Mining, its partner there for the past five years.
Daily Mail editor Geordie Greig is stepping down from the role after three years.
Mr Greig, who took up the role in September 2018 after replacing Paul Dacre, will step down at the end of the week.
He will be replaced by Ted Verity, who is currently editor of the Mail on Sunday.
The FTSE 100 has finished the day firmly in the red after new figures showed inflation soared to its highest level in a decade last month.
The blue-chip index slid 0.5pc to 7,291 points while the pound pushed to new highs against the dollar and euro.
London Stock Exchange Groupwas the biggest loser, dropping just over 6pc, whileSSEfell 4.3pc after its bet on wind power failed to impress investors.
Major exporters such asUnilever,Reckitt BenckiserandBritish American Tobaccoalso dragged the index lower.
Sage Groupbucked the downbeat trend, jumping 9.7pc after saying it would increase its dividend.
The domestically-focused FTSE 250 also fell 0.5pc, led by a 10.5pc drop forCMC Markets.
Events and exhibitions group Informa has held its guidance for the full year as it pointed to a “steadily improving” rate of bookings for live events.
The FTSE 100 firm said it still expects revenues of around £1.8bn and adjusted operating profit of £375m for the full year.
Informa said it had held more than 250 events so far, with further pick-up in participation expected as the year progresses. Investors were unimpressed, however, with shares falling 2.9pc.
Stephen A Carter, chief executive of Informa, said:
We will complete the 2021 transition year in a stronger place than we anticipated at the start of the year and are now single-mindedly focused on growth and acceleration through to 2024.
Lidl is to become Britain’s highest-paying supermarket as it prepares to increase hourly wages from March next year, writesLaura Onita.
The German discounter is increasing hourly pay from £9.50 to £10.10 outside London and from £10.85 to £11.30 within the M25.
Regional carrier Flybe, which collapsed at the onset of the pandemic 20 months ago, is set to return to the skies in 2022.
The company said it would start flying to domestic and EU destinations early next year from a new base in Birmingham. It did not give any details about routes.
Flybe, which was already in financial difficulty before Covid hit, collapsed in March 2020 when loan talks with the government fell through. It was bought out last October by Thyme Opco.
Boris Johnson has warned of tougher punishments for tech giants such as Facebook and Google if they fail to stamp out harmful material such as pornography and terrorist content.
Speaking in front of a parliamentary committee, the Prime Minister said it's time Big Tech “realise that they cannot simply think of themselves as neutral pieces of infrastructure; they are publishers and responsible for what’s on their systems”.
He added: “We want the strongest possible sanctions against people running online companies allowing a torrent of hateful stuff on their networks.”
The Government is currently consulting on the Online Harms Bill, which will look to hold internet companies liable for the material published to their sites.
Companies could be fined as much as 10pc of annual global revenue if they breach regulations, while Culture Secretary Nadine Dorries has indicated she is examining jail sentences of three to six months for criminal liability of executives.
Italians are facing the troubling prospect of paying more for their bowl of spaghetti as prices for staples such as pasta, tomatoes and olive oil continue to rise.
The cost of tomatoes jumped 12pc last month compared to a year ago, according to official data. That follows an 18pc leap in September.
Pasta prices rose almost 5pc, compounded by a drought that reduced North American production of durum wheat – a key ingredient.
Rebounding demand, supply chain troubles and soaring energy prices have all fanned inflation in recent months. It comes after fresh UK data showed inflation last month soared to its highest level for a decade.
There's trouble brewing at investment bank Numis, which is said to have reported itself to the City watchdog after making – and then retracting – claims about accounting irregularities at THG.
Sky News reports that a Numis analyst issued a bearish note last week accusing the troubled ecommerce group of "a lack of clarity" and casting doubts over its Ingenuity tech division.
The memo advised clients to reduce their holdings in THG and suggested shares were overvalued by more than a fifth.
Within 24 hours, the bank apologised for "misrepresentations" in the commentary and resent the note, removing the allusion to "irregularities in accounting".
Numis has since referred itself to the Financial Conduct Authority over the potentially embarrassing situation.
Time to check in on US stocks, which are languishing in the red this afternoon amid jitters about an early interest rate hike by the Federal Reserve.
Targetwas among the retailers to report upbeat results thanks to an earlier start to Christmas shopping, though it dropped 4.8pc as margins were hit by supply chain troubles.
Meanwhile,Visafell 5.4pc after Amazon said it would stop accepting UK credit cards made by the company due to high transaction fees.
The S&P 500 is trading down 0.2pc, while the Nasdaq is down 0.1pc. The Dow Jones is trailling 0.5pc.
Gas prices jumped to their highest level in a month on Wednesday as delays to Russia's controversial Nord Stream 2 pipeline stoked fears of a winter supply crunch.
Benchmark Dutch prices rose as much as 8.1pc, while the UK equivalent was up just over 5pc, extending Tuesday's gains.
It comes after Germany’s energy regulator suspended the certification process for the Nord Stream 2 link until it creates a local subsidiary for the section of the pipeline in the country.
The move fuelled fears of winter shortages at a time when supplies are already tight and prices have soared to record highs. In a further blow, short-term weather forecasts point to temperatures below seasonal norms in Europe over the next few weeks.
Bad news now for Greggs fans, after the baker warned it's struggling to keep its hot shelves stocked with vegan sausage rolls and bean and cheese melts amid lingering supply chain turmoil.
Hannah BolandandLaura Onitahave the details:
The high street bakery chain said it was facing “temporary interruptions” to the supply of certain products across the UK, resulting in some stores running out of the items.
After Tuesday's reports that German regulators had delayed approval of Russia's new gas pipeline, it looks like the company behind the project is trying to course-correct quickly.
State-owned Russian firm Gazprom is planning to set up a fully owned German subsidiary in a bid to win approval for the controversial Nord Stream 2 link, according to Bloomberg.
It is an attempt to meet EU rules requiring natural gas producers to be legally separate from entities transporting the fuel, and have the operator registered in the bloc.
Once completed, it will also allow the restart of certification of the 760-mile pipeline halted on Tuesday.
However, Zongqiang Luo, a gas markets analyst at Norwegian consultants Rystad Energy AS, said he now estimates approval will be delayed until April at the earliest.
House of Fraseris to close its flagship Oxford Street store after the firm's landlord served notice on the retailer.
The department store chain, which is owned by Mike Ashley's Frasers Group, said it will move out of the London branch in January.
It comes after the owner of the site, Public Properties Establishment, secured planning approval to carry out a £100m revamp of the building.
The closure comes after theDebenhamsstore in Oxford Street shut earlier this year as well.
A Frasers Group spokesman said:
It is with regret that we have been served notice by the landlord to close House of Fraser, Oxford Street - following granted planning permission to redevelop the site. Since acquiring in 2018, despite challenges faced, we have worked collaboratively with the landlord to keep the store trading 3 years longer than what was initially proposed by the previous owner.
Julian Jessop, an independent economist, has predicted that the Bank of England will have to raise interest rates to 0.25pc next month if it is "serious about keeping inflation down".
His comments follow this morning's official data, which showed that the Consumer Price Index (CPI) measure of inflation rose by 4.2pc in the year to October - the biggest jump for a decade.
Writing for the Telegraph, Mr Jessop says:
The decision to duck the opportunity to raise rates in November was largely explained by near-term uncertainty about the labour market and the impact of the end of the furlough scheme. This always seemed a little lame, given the evidence from pretty much every business survey, but was just about defensible. No longer.
You canread the full piece here.
Joe Biden's US administration is set to auction new oil drilling rights across the Gulf of Mexico even as the White House tries to shift away from fossil fuels, Bloomberg reports.
It comes after President Biden boasted at the Cop26 climate summit that America was "not only back at the table but hopefully leading by the power of our example".
Bloomberg adds:
The sale will take place despite pleas from environmental activists for its cancellation, since leases sold in the auction could yield decades of crude they say a warming world cannot afford to burn.
Apple is to start selling iPhone spare parts to the general public for the first time so they can carry out repairs at home.
The US company said parts, tools and manuals will be available for the iPhone 12 and iPhone 13 at first, then for some Mac computers later on.
Before now, only Apple itself or repair firms approved by the company had access to these.
Apple's move comes after years of pressure from consumer groups, which have argued that Apple's restrictions on repairs reduce competition and result in higher prices for consumers.
Jeff Williams, Apple’s chief operating officer, said:
Creating greater access to Apple genuine parts gives our customers even more choice if a repair is needed. In the past three years, Apple has nearly doubled the number of service locations with access to Apple genuine parts, tools, and training, and now we’re providing an option for those who wish to complete their own repairs.
Baroness Altman, a Tory peer and pensions expert, has warned that the inflation revealed by today's Consumer Prices Index (CPI) data will mean many pensioners will "struggle to make ends meet".
She is critical of the Government's decision this week to temporarily scrap the pensions triple lock, which will leave millions worse off next year.
Ministers instead pushed through plans to increase state pensions by a below-inflation rate of 3.1pc next year.
Baroness Altman said:
Pensioner poverty was already rising before the pandemic and the inflation numbers will leave more in desperate straits as the try to pay their basic bills during the coming months. Today's CPI inflation numbers confirm again the cost of living crisis already engulfing pensioners and it will continue to become clear that the shameful decision to increase their state pensions by just 3.1pc next year will plunge more elderly people into poverty.
Bitcoin and ether are continuing to slide amid fears the world's two largest cryptocurrencies could be hit by new tax rules in the US.
Bitcoin has been trading at around $60,000, down from its record high of $69,000 set earlier this month.
Meanwhile, ether was at about $4,200, below its peak of $4,868.
Analysts have also blamed profit-taking for some of the drop, as well as inflation in the US and a directive to state-owned firms in China not to engage in cryptocurrency mining.
Bitcoin has doubled in value since January.
But Craig Erlam, senior market analyst at online broker Oanda, said the digital currency could suffer severe drops if its falls below the symbolic level of $58,000.
Shares inMcColl’s Retail Grouphave tumbled by a record 35pc after the company flagged worsening supply chain problems ahead of Christmas.
In a trading update, McColl’s slashed its profit forecast for the year, blaming a lack of lorry drivers, understaffed warehouses and product shortages.
The stock has since pared some of its earlier losses but remains down by about 14pc.
McColl's said:
While we continue to work collaboratively with our wholesale partner, Morrisons, to lessen the effect of the disruption, we have been unable to fully mitigate the impact to stores, leading to significantly lower revenues than initially anticipated. FY21 adjusted EBITDA pre IFRS 16 is now expected to be in the range of £20m to £22m. The Group continues to monitor the situation with its key stakeholders, including its lending banks, who remain supportive.
Germanymay tell companies to let their staff work from home again under tough measures to tackle a winter surge in coronavirus cases, it has been reported.
Bloomberg has this on legislation being considered in Berlin:
Germany’s likely next ruling coalition is pushing ahead with tougher measures to tackle record increases in coronavirus cases, including requiring companies to let employees work from home where possible.
Inflation hit 4.2pc in October and there will be growing unease at the Bank of England that rapidly rising prices are causing living costs to spiral.
It means there will be pressure on policymakers to increase interest rates in December.
But how much of a risk is rising inflation, and how can you protect your finances?
My colleagues atTelegraph Money have the answers.
We've also had half-year results from commercial landlord British Land today, which returned to a profit after enduring a tough time during the pandemic.
The upbeat results come after rival LandSec also swung back into the black on Tuesday, suggesting the UK's property giants are finally turning the corner on Covid.
They have had to battle low rent collection rates and steep declines in valuation during the pandemic.
But British Land, which owns the Meadowhall shopping centre in Sheffield and the Broadgate office development in London, has now reported a £370m profit for the six months to September 30, up from a loss of £730m a year earlier.
Simon Carter, the company's chief executive, says this was partly driven by the growing return of white collar workers to the office:
Demand is firmly focused on the very best space, with an emphasis on sustainability, wellness, shared and flexible space and excellent transport connections.
David Cameron has quit his role at the software company Afiniti after its founder was accused of sexual abuse against a female employee.
A spokesman for the former prime minister said on Wednesday that he was resigning as chairman of the company’s advisory board with immediate effect, and strongly disagreed with Afiniti’s response to the allegations.
It came after Tatiana Spottiswoode, a former employee at the Bermuda-based artificial intelligence company, alleged a pattern of harassment and assault from Zia Chishti, Afiniti’s founder and chief executive. Mr Chishti denies the claims.
The US House of Congress has now released pictures (above) allegedly showing the injuries suffered by Ms Spottiswoode.
More details here.
The vegan sausage roll sold byGreggs, the baker, has become the latest product to succumb to supply chain disruption across Britain.
A light puff pastry filled with a Quorn meat substitute, it was launched by the high street chain in 2019 and has since became a popular alternative to its classic sausage roll.
But Greggs has now warned customers it is suffering nationwide "temporary interruptions" to supplies of products - including the vegan-friendly pastries.
A spokesman said some shops "may not have them, or may not have them throughout the day. It varies."
The shortage follows panic buying at Britain's fuel pumps, soaring heating prices and limited supplies of crisps.
Greggs' stores in London have been hit particularly hard, with branches in Twickenham, Richmond, Earls Court, Canary Wharf and South Woodford among those that have run out of vegan sausage rolls this week.
WhileAndrew Baileyand theBank of Englandmay have held off from raising interest rates earlier this month, Iceland’s central bank is... breaking the ice, so to speak.
The Reykjavík-based institution (Seðlabanki Íslands)has announced its biggest rate rise since the coronavirus crisis struck in a bid to quell inflation and the country's overheating housing market.
Policymakers lifted the seven-day term deposit rate by 50 basis points to 2pc, the highest level since March 2020, according to Bloomberg.
The move cements Icelandic central bank’s position as the most hawkish in western Europe after it became the first to raise borrowing costs since the pandemic struck.
Gabriella Dickens, of economist Pantheon Macroeconomics, says the big annual jump in house prices during September was due to buyers rushing to complete deals before the stamp duty holiday was completely phased out in October.
Those who completed by the end of the month saved up to £2,500 in tax,my colleague Rachel Mortimer reports.
Hong Kong's Disneyland Park has been closed for a day after authorities found one person who visited over the weekend was infected with the coronavirus.
The site, which is majority-owned by the city government with Walt Disney a minority partner, said the closure was out of "an abundance of caution" and advised visitors to reschedule.
The park has been forced to closed multiple times for prolonged periods since the start of the pandemic.
With today's inflation figures having lifted the pound to its highest level since February 2020 against the euro, analysts say sterling's good fortunes could continue.
Victoria Scholar, head of investment at Interactive Investor, says:
While euro-sterling has been trading in a descending trendline since April, losses have accelerated in November breaking below support at £0.85 with the next major test at around £0.82. A move down towards £0.82 would see the pound strengthen to highs not seen since 2016.
Money expert Martin Lewis has floated a theory on what is behind the bust-up between Amazon and Visa:
Visa has hit back at Amazon's plans to stop customers paying with Visa credit cards due to "high" fees.
A spokesman for the firm said it was "very disappointed" that Amazon was threatening to "restrict consumer choice" by banning its cards.
A Visa spokesman said:
When consumer choice is limited, nobody wins. We have a long-standing relationship with Amazon, and we continue to work toward a resolution.
Roughly nine in 10 British shoppers use Amazon, according to Mintel, a research firm, with around 40pc using its Prime subscription service.
Amazon has declined to reveal how many customers will be affected.
My colleague Will Kirkmanhas the details.
House prices soared to a record high in the final month of the stamp duty holiday after the average property gained £7,000 in the space of one month, my colleagueRachel Mortimerreports.
Prices across Britain rose by 11.8pc in the year to September, up from 10.2pc in August.
Price tags hit £270,000, the biggest average ever recorded by the Office for National Statistics and £6,000 higher than the previous record set in June of this year.
September marked the final month buyers could benefit from savings under the stamp duty holiday.
Those who completed by the end of the month could save up to £2,500 in tax, although a “race for space” amongst buyers moving to bigger properties has also been credited with the huge price jumps.
However, the picture is not all rosy, with some now warningthe market is in a bubble that could be about to burst.
The pound has climbed to a one-week high versus the US dollar and a 21-month high against the euro after data showed British inflation is running at its highest rate for a decade.
Figures showing that inflation surged to 4.2pc in the year to October are stoking expectations of an interest rates rise as early as next month.
It sent sterling 0.4pc higher against the euro to €1.19. Against the dollar, it edged 0.3pc higher to $1.3480, its highest level since November 10.
Reacting to the data, analysts at Mizuho said:
This morning’s UK inflation data was stronger than expected and, alongside Tuesday’s labour market data, further strengthens the case for a December hike.
A row has erupted between Amazon and Visa, with the internet shopping giant accusing the latter of charging card fees that are too high.
As a result, Amazon has told customers it will stop accepting payments made using UK Visa credit cards on its site from January 19.
The US giant said it has made the decision due to "the high fees Visa charges for processing credit card transactions".
Customers will still be able to use debit cards, including Visa, and non-Visa credit cards, it said.
Here's what Amazon has said:
The cost of accepting card payments continues to be an obstacle for businesses striving to provide the best prices for customers.
Visa has not yet responded to the claims, according to the Press Association.
Russ Mould, investment director at AJ Bell, points out that SSE's decision to exit the household energy supply market last year now looks prescient in the light of huge pressure rising gas prices are putting on other suppliers.
But he warns the planned investment in wind and other renewables may not be enough to get activist Elliott off the company's back:
SSE’s pivot towards renewables has been well-timed. Having sold its household energy supply and services firm at the beginning of 2020, it is not directly exposed to the current energy crisis, where even the larger operators will be running many loss-making accounts as the wholesale cost of gas and electricity soars above fixed tariffs.
Elsewhere today, British drugs giantGlaxoSmithKlinehas inked a $1 bn (£744m) deal to supply its new Covid-19 antibody treatment to the US.
The firm said the new contract brings the number of doses ordered to 750,000 worldwide.
GSK's new medicine, sotrovimab, can prevent Covid patients from becoming severely ill.
Crucially, the drug also appears to retain its efficacy against the delta variant of the virus, judging from early data, the companies said.
Hal Barron, the company's chief scientific officer, said: "Given the large number of patients who continue to become ill with Covid-19 across many regions in the US, there is an ongoing need for access to effective treatments."
Julian Jessop, an independent economist, points out that the UK's rate of inflation is not a unique problem internationally:
The announcement ofSSE'splans to sell a stake in its electricity network has come as the company reported its half-year results.
Profits for the six months to September rose from £134m to £174m, an announcement said.
But the company's renewables division was hit by poor weather in the UK during the summer, with wind levels low and dry conditions impacting its hydro business.
James Magness,director for energy and resources at Edison Group, says the numbers show "good performance" and that the investment plans leave the firm "well placed to capitalise on the amplified global interest on clean energy provision".
The FTSE 100 index is sliding as investors bet that surging inflation makes an rise in interest rates more likely.
Official figures showthe Consumer Prices Index (CPI) rose by a bigger-than-expected 4.2pc in annual terms in October, up from a 3.1pc increase in September, as household energy bills rocketed.
The internationally-focused Footsie, which is made up of big companies that make much of their money abroad, slipped 0.1pc as the sterling hit a one-week high against the dollar.
Financial markets have currently priced in a near-100pc chance that the Bank of England will raise rates from the record-low of 0.1pc to 0.25pc in December, according to Reuters.
SSE's renewable energy portfolio already includes about 4 gigawatts of wind and hydroelectric power but the company's new investment plan will aim to double that figure by 2026.
Wind power is already the biggest source of renewable energy in the UK and ministers are pushing for it to play an even bigger role in the future as part of plans to transition to a "net zero" carbon economy.
Danni Hewson, financial analyst at AJ Bell, has chipped in with some more commentary on today's inflation data, asking whether a rise in interest rates will actually help tackle the problem:
The Bank [of England’s] governor Andrew Bailey has admitted he’s worried by the figures and had given serious thought to hiking rates earlier this month.
Here's a round-up of the top stories from the Telegraph's personal finance team today:
• Where the country house price bubble could burst
• Civil servants letting tax dodgers off 'scot free', audit office warns
Under plans announced this morning, utility giant SSE says its renewable energy projects could contribute more than one quarter of the UK's goal to generate 40 gigawatts of offshore wind power by 2030.
It will be seen as a boost to Boris Johnson's plan to turn Britain into the "Saudi Arabia" of wind power.
Alistair Phillips-Davies, SSE's chief executive, says:
After all the commitments made at COP26, now is the time to deliver. Our Net Zero Acceleration Programme represents the next phase of SSE’s growth and involves a substantial ramping up of investment – equivalent to nearly £7m each day in low-carbon infrastructure – backed up by clear delivery and funding plans.
Becky O’Connor,head of pensions and savings at Interactive Investor, warns that pensioners may find it "hard to cope" with surging prices.
She points out that the state pension will only rise by 3.1pc next year after the Government temporarily ditched the triple lock:
For pensioners and others on limited incomes, this level of inflation is hard to cope with. Careful budgeting only gets you so far. Those already on the cheapest possible deals, the lowest tariffs and buying the cheapest food have very little wriggle room. There’s nowhere left to hide. You will always be spending something on food, energy and fuel if you drive and these are among the categories where prices are rising the fastest.
Simon French, chief economist at Panmure Gordon, sums up how many economists feel about the inflation data this morning:
Rishi Sunak,the Chancellor, has issued a statement reacting to the inflation data:
Many countries are experiencing higher inflation as we recover from Covid, and we know people are facing pressures with the cost of living, which is why we are taking action worth more than £4.2bn to help them.
More reaction to this morning's inflation figures is flooding in - and some experts are not pulling their punches.
Michael Hewson,chief market analyst at CMC Markets UK, says the decision by policymakers at the Bank of England to keep interest rates at a record low of 0.1pc this month now looks overly cautious:
Today’s data is a huge embarrassment for the Bank of England, whose procrastination over a modest 0.15pc rate rise earlier this month now makes it odds-on that all the pre-Christmas headlines will be of the 'Bank of England steals Christmas' variety - if they do bite the bullet and belatedly nudge rates higher.
Richard Carter, head of fixed interest at wealth manager Quilter Cheviot, also expects tough conversations at the Bank of England's next meeting of interest rate setters, the Monetary Policy Committee.
He points to Tuesday's labour market figures, which showed that unemployment fell and vacancies rose even after the end of furlough, as further evidence in the case for a rates rise:
This morning’s print suggests we should be braced for a showdown at the next MPC meeting in December, where all bets will be on a rate hike. Particularly given we now have more information on the state of the labour market in the UK.
ButDan Boardman-Weston,chief investment officer at BRI Wealth Management, also warns that policymakers should not be too hasty:
The level of inflation is going to keep getting worse over the coming months as supply stays stretched, demand stays robust and base effects technically push the rate of inflation higher. This is undoubtedly going to put pressure on the Bank of England to raise rates, which we suspect they will have to do in the next few months given the high levels of inflation and robust labour market. Nothing we see leads us to believe that this inflation is permanent and as we start heading into Spring next year the figures will start falling rapidly. The Bank of England needs to be careful that they’re not too hasty in tightening monetary policy as a policy misstep could do more harm to the economy than this transitory inflation we are witnessing.
Thomas Pugh,economist at RSM UK, is one of the first out the blocks this morning with a prediction that this morning's inflation figures add more weight to predictions that the Bank of England will raise interest rates next month.
Andrew Bailey, the Bank's Governor,has flagged surging inflation as a key concernahead of December's meeting of the Monetary Policy Committee (MPC), which backed off from a rates rise earlier this month.
But Mr Pugh said:
With inflation almost double the MPCs target of 2pc and no signs that the ending of the furlough scheme in September adversely affected the labour market, the stage seems set for the MPC to hike interest rates in December.
He said the biggest price pressures were "being felt in those areas most affected by supply chain disruptions".
Inflation is expected to peak at 5pc in April, but Mr Pugh said it is expected to "fall quickly" afterwards and return to 2pc by early 2023.
The main upwards pressure on October's inflation figure came from household costs such as the price of electricity, gas and other fuels, according to the Office for National Statistics.
It followed an increase in the cap on energy prices after wholesale prices for gas rocketed.
Further pressure on inflation came from rising prices for petrol, second-hand cars and air fares.
Good morning.
Inflation has soared to its highest level for a decade on the back of rising petrol and household energy costs.
The Consumer Prices Index (CPI) rose by 4.2pc in the year to October, up from 3.1pc the previous month.
This was a bigger rise than economists had expected and will add pressure on the Bank of England to raise interest rates.
Andrew Bailey, the Bank's Governor,warned on Monday that he is "very uneasy" about surging inflation.
1)Sex assault claims rock David Cameron's tech firmFounder of Afiniti, which employs Princess Beatrice, is accused of grooming and beating a female employee.
2)Qatar to take £100m stake in Rolls-Royce reactor ventureInvestment to help develop small nuclear reactors will deepen ties between the FTSE 100 engineering company and the gas-rich Gulf state.
3)Rolling blackouts threaten Europe this winterTrafigura chief warns that a prolonged cold snap could result in electricity shortages due to insufficient gas storage.
4)George Eustice: Working mothers can fill abattoir vacanciesEnvironment Secretary says practices at meat processing facilities have changed, allowing British staff to do jobs once taken by migrants.
5)Arm's $40bn takeover faces national security investigationCulture Secretary orders competition watchdog to examine Nvidia's deal to buy Cambridge-based tech champion Arm.
Asian markets dipped on Wednesday as a recent rally ran out of steam and investors struggled to match a strong lead from Wall Street. In early trade, Hong Kong retreated for the first time in a week, while Tokyo, Shanghai, Taipei, Seoul, Singapore, Sydney and Wellington were also in negative territory.
• Corporate:Sage Group, Safestore Holdings(full-year results); British Land, CMC Markets, Experian, SSE, Workspace(interims); Spirax-Sarco, Informa(trading update)
• Economics:Consumer price index(UK), retail price index(UK), producer price index(UK), financial stability review(EU), retail sales(US), housing starts(US) || Silver Price Prediction Prices Slip on Strong Retail Sales: Silver prices slipped on Tuesday as the dollar continued to rally. Since silver is priced in U.S. currency, a stronger greenback generally weighs on silver. The dollar rallied along with U.S. Treasury yields following a stronger than expected retail sales data showing that the consumer remains active despite higher inflation. Industrial production also rose in October. Technical analysis Silver prices slipped on Monday. Prices have formed a reverse head and shoulder pattern which is a bottoming breakout pattern. This is likely a pause that refreshes. Support is seen near the 10-day moving average at 24.54. Target resistance is the August highs at 26. Short-term momentum has turned negative as the fast stochastic generates a crossover sell signal. Medium-term momentum has also turned positive as the MACD (moving average convergence divergence) index generated a crossover buy signal. This scenario occurs as the MACD line (the 12-day moving average minus the 26-day moving average) crosses above the MACD line). The MACD histogram is printing in positive territory with an upward sloping trajectory which points to higher prices. Industrial Production Rose More than Expected Industrial production rose 1.6% in October, ahead of the 1% estimate and a rebound from the 1.3% decline in September. And capacity utilization rose to 76.4%, its highest level since December 2019. The September weakness reflected severe shortages of semiconductor chips that contributed to a fall in auto production. This article was originally posted on FX Empire More From FXEMPIRE: European Equities: Eurozone Inflation and Central Bank Chatter in Focus Houston Rockets Catch Bitcoin Fever, Ink Partnership With NYDIG S&P 500 Price Forecast Stock Markets Continue Bullish Move Crude Oil Price Forecast Crude Oil Markets Trying to Stabilize Silver Price Forecast Silver Markets Look Primed for Pull Back E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis Reaction to 16172.50 Sets Wednesdays Early Tone || Silver Price Prediction – Prices Slip on Strong Retail Sales: Silver prices slipped on Tuesday as the dollar continued to rally. Since silver is priced in U.S. currency, a stronger greenback generally weighs on silver. The dollar rallied along with U.S. Treasury yields following a stronger than expected retail sales data showing that the consumer remains active despite higher inflation. Industrial production also rose in October.
Silver prices slipped on Monday. Prices have formed a reverse head and shoulder pattern which is a bottoming breakout pattern. This is likely a pause that refreshes. Support is seen near the 10-day moving average at 24.54. Target resistance is the August highs at 26. Short-term momentum has turned negative as the fast stochastic generates a crossover sell signal. Medium-term momentum has also turned positive as the MACD (moving average convergence divergence) index generated a crossover buy signal. This scenario occurs as the MACD line (the 12-day moving average minus the 26-day moving average) crosses above the MACD line). The MACD histogram is printing in positive territory with an upward sloping trajectory which points to higher prices.
Industrial production rose 1.6% in October, ahead of the 1% estimate and a rebound from the 1.3% decline in September. And capacity utilization rose to 76.4%, its highest level since December 2019. The September weakness reflected severe shortages of semiconductor chips that contributed to a fall in auto production.
Thisarticlewas originally posted on FX Empire
• European Equities: Eurozone Inflation and Central Bank Chatter in Focus
• Houston Rockets Catch Bitcoin Fever, Ink Partnership With NYDIG
• S&P 500 Price Forecast – Stock Markets Continue Bullish Move
• Crude Oil Price Forecast – Crude Oil Markets Trying to Stabilize
• Silver Price Forecast – Silver Markets Look Primed for Pull Back
• E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis – Reaction to 16172.50 Sets Wednesday’s Early Tone
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56942.14, 58119.58, 59697.20, 58730.48, 56289.29, 57569.07, 56280.43, 57274.68, 53569.77, 54815.08
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Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 38152.98, 39747.50, 40869.55, 42816.50, 44555.80, 43798.12, 46365.40, 45585.03, 45593.64, 44428.29, 47793.32, 47096.95, 47047.00, 46004.48, 44695.36, 44801.19, 46717.58, 49339.18, 48905.49, 49321.65, 49546.15, 47706.12, 48960.79, 46942.22, 49058.67, 48902.40, 48829.83, 47054.98, 47166.69, 48847.03, 49327.72, 50025.38, 49944.62, 51753.41, 52633.54, 46811.13, 46091.39, 46391.42, 44883.91, 45201.46, 46063.27, 44963.07, 47092.49, 48176.35, 47783.36, 47267.52, 48278.36, 47260.22, 42843.80, 40693.68, 43574.51, 44895.10, 42839.75, 42716.59, 43208.54, 42235.73, 41034.54, 41564.36, 43790.89, 48116.94, 47711.49, 48199.95, 49112.90, 51514.81, 55361.45, 53805.98, 53967.85, 54968.22, 54771.58, 57484.79, 56041.06, 57401.10, 57321.52, 61593.95, 60892.18, 61553.62, 62026.08, 64261.99, 65992.84, 62210.17, 60692.27, 61393.62, 60930.84, 63039.82, 60363.79, 58482.39, 60622.14, 62227.96, 61888.83, 61318.96.
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[Bitcoin Technical Analysis for 2021-10-31]
Volume: 32241199927, RSI (14-day): 57.21, 50-day EMA: 55020.21, 200-day EMA: 46273.68
[Wider Market Context]
None available.
[Recent News (last 7 days)]
Best athlete in Philadelphia sports history? Detroit Lions RB D'Andre Swift has The Answer: D'Andre Swift leads the Detroit Lions and all NFL running backs with 42 catches through seven games. The Philadelphia native plays his hometown Eagles at Ford Field on Sunday. He stopped to answer five questions for the Free Press this week. Since you're a Philly guy, let's start there. Who is the best athlete in Philadelphia sports history and why? In sports history? Allen Iverson. Why? Oh, man, that's 'The Answer.' Everything he was able to do, the impact he had on the city. He was a great player all the way around. I loved watching him play. JUST WIN BABY: This is why I think the Lions will beat the Eagles. Handily. You probably saw Mike Evans last week, he caught Tom Brady's 600th touchdown pass and gave it to a fan. The Tampa Bay Buccaneers gave the fan a few autographed jerseys and season passes, and Brady gave the guy a Bitcoin. If you were a fan, what would you ask for, for the ball or a similar piece of memorabilia? If I'm a fan? I need more than that. It's going to be more than that. That's worth millions of dollars. I'm going to hold out and see what I can get. Detroit Lions running back D'Andre Swift (32) scores a touchdown against Los Angeles Rams during the first half at the SoFi Stadium in Inglewood, Calif. on Sunday, Oct. 24, 2021. I heard you were a guy at Georgia who would show up to the football facility at 1 or 2 in the morning, work out, get some work in. Do you still do that? And what did you get out of being there at all hours of the night? No, that was something I did in college. There'd be nights where I just probably couldn't sleep and I'd just be up, why not go get better? But have I done that in the league? No. Because the days are longer, it's a lot more different schedule-wise. How often did you do that at Georgia? Maybe like twice a week, depending on the schedule. 5 questions: Why Lions' Jamaal Williams would be a 'bad good guy' as an anime character 5 questions: Lions rookie CB A.J. Parker already has the first scene of his biopic figured out Halloween is this week. What was your favorite Halloween costume as a kid, and what's your favorite Halloween candy? I ain't real big on Halloween. I wore a Batman costume. I was real young. That's probably the last costume I wore. I was probably like 6. Six or 7. Halloween candy? I don't really like candy corn. Just like, like Reese's and Snickers, regular stuff. Story continues You didn't go trick-or-treating a lot as a kid? No, I didn't. It really wasn't my thing. If you could trade bodies with any NFL running back in history for a game, just to feel what it's like to run as that guy, who would it be and why? I'd have to say Barry Sanders. I'd have to say Barry Sanders, because he's my favorite running back of all time. See how he moves, how he makes people miss and what he was able to do. I'd like to see what it was to be like him for the day. One more, since it's a Philly thing: What's your favorite cheesesteak? Dalessandro's or Ishkabibble's. Why those? Everybody really says Pat's and Geno's. That's like the regular, normal thing to do. I just feel like if you're going to Philly, you be there for a little bit, you should go to Dalessandro's or Ishkabibble's on South Street. Those are the best two quality places to me. Contact Dave Birkett at dbirkett@freepress.com . Follow him on Twitter @davebirkett. This article originally appeared on Detroit Free Press: Detroit Lions RB D'Andre Swift is a big fan of Allen Iverson || Best athlete in Philadelphia sports history? Detroit Lions RB D'Andre Swift has The Answer: D'Andre Swift leads the Detroit Lions and all NFL running backs with 42 catches through seven games. The Philadelphia native plays his hometown Eagles at Ford Field on Sunday. He stopped to answer five questions for the Free Press this week. Since you're a Philly guy, let's start there. Who is the best athlete in Philadelphia sports history and why? In sports history? Allen Iverson. Why? Oh, man, that's 'The Answer.' Everything he was able to do, the impact he had on the city. He was a great player all the way around. I loved watching him play. JUST WIN BABY: This is why I think the Lions will beat the Eagles. Handily. You probably saw Mike Evans last week, he caught Tom Brady's 600th touchdown pass and gave it to a fan. The Tampa Bay Buccaneers gave the fan a few autographed jerseys and season passes, and Brady gave the guy a Bitcoin. If you were a fan, what would you ask for, for the ball or a similar piece of memorabilia? If I'm a fan? I need more than that. It's going to be more than that. That's worth millions of dollars. I'm going to hold out and see what I can get. Detroit Lions running back D'Andre Swift (32) scores a touchdown against Los Angeles Rams during the first half at the SoFi Stadium in Inglewood, Calif. on Sunday, Oct. 24, 2021. I heard you were a guy at Georgia who would show up to the football facility at 1 or 2 in the morning, work out, get some work in. Do you still do that? And what did you get out of being there at all hours of the night? No, that was something I did in college. There'd be nights where I just probably couldn't sleep and I'd just be up, why not go get better? But have I done that in the league? No. Because the days are longer, it's a lot more different schedule-wise. How often did you do that at Georgia? Maybe like twice a week, depending on the schedule. 5 questions: Why Lions' Jamaal Williams would be a 'bad good guy' as an anime character 5 questions: Lions rookie CB A.J. Parker already has the first scene of his biopic figured out Halloween is this week. What was your favorite Halloween costume as a kid, and what's your favorite Halloween candy? I ain't real big on Halloween. I wore a Batman costume. I was real young. That's probably the last costume I wore. I was probably like 6. Six or 7. Halloween candy? I don't really like candy corn. Just like, like Reese's and Snickers, regular stuff. Story continues You didn't go trick-or-treating a lot as a kid? No, I didn't. It really wasn't my thing. If you could trade bodies with any NFL running back in history for a game, just to feel what it's like to run as that guy, who would it be and why? I'd have to say Barry Sanders. I'd have to say Barry Sanders, because he's my favorite running back of all time. See how he moves, how he makes people miss and what he was able to do. I'd like to see what it was to be like him for the day. One more, since it's a Philly thing: What's your favorite cheesesteak? Dalessandro's or Ishkabibble's. Why those? Everybody really says Pat's and Geno's. That's like the regular, normal thing to do. I just feel like if you're going to Philly, you be there for a little bit, you should go to Dalessandro's or Ishkabibble's on South Street. Those are the best two quality places to me. Contact Dave Birkett at dbirkett@freepress.com . Follow him on Twitter @davebirkett. This article originally appeared on Detroit Free Press: Detroit Lions RB D'Andre Swift is a big fan of Allen Iverson || iPollo Launches B1 Series and Darksteel Series Mining Machines, Available for Sale in November 2021: Singapore, Singapore--(Newsfile Corp. - October 30, 2021) - Meta-computing manufacture iPollo officially launches two series of new mining machines in the US, iPollo B1 and iPollo Darksteel.iPollo B1 series are Bitcoin mining machines with power consumption of varies models between 35W/THash~55W/THash. iPollo B1 equipped with the latest Darkbird chip designed by Nano Labs, who specializes in designing high throughput computing chips, high performance computing chips and vision computing chips.iPollo Darksteel series is an integrated solution for distributed storage. There are three models in this launch, Darksteel S, Darksteel F and Darksteel C targeted to provide mining solutions for Swarm, Filecoin and Chia respectively.
Both B1 and Darkstell series will simultaneously open for spot and futures orders globally in November.
Singapore-based iPollo is committed to provide computing and storage integrated computing services for the foundation of upcoming Metaverse. It has previously launched the Grin series of mining machines, which have been well praised by its customers around the world. The launch of the B1 and Darkbird series of products is a key step for the company in the field of Meta-computing. It is reported that the company will also launch a series of competitive products around the distributed computing and storage track in the future, to be the underlying computing network of the Metaverse contributes.
Contact:
Jason Leeinfo@ipollo.comhttps://ipollo.com/
To view the source version of this press release, please visithttps://www.newsfilecorp.com/release/101333 || iPollo Launches B1 Series and Darksteel Series Mining Machines, Available for Sale in November 2021: Singapore, Singapore--(Newsfile Corp. - October 30, 2021) - Meta-computing manufacture iPollo officially launches two series of new mining machines in the US, iPollo B1 and iPollo Darksteel. iPollo B1 series are Bitcoin mining machines with power consumption of varies models between 35W/THash~55W/THash. iPollo B1 equipped with the latest Darkbird chip designed by Nano Labs, who specializes in designing high throughput computing chips, high performance computing chips and vision computing chips. iPollo Darksteel series is an integrated solution for distributed storage. There are three models in this launch, Darksteel S, Darksteel F and Darksteel C targeted to provide mining solutions for Swarm, Filecoin and Chia respectively. Both B1 and Darkstell series will simultaneously open for spot and futures orders globally in November. Singapore-based iPollo is committed to provide computing and storage integrated computing services for the foundation of upcoming Metaverse. It has previously launched the Grin series of mining machines, which have been well praised by its customers around the world. The launch of the B1 and Darkbird series of products is a key step for the company in the field of Meta-computing. It is reported that the company will also launch a series of competitive products around the distributed computing and storage track in the future, to be the underlying computing network of the Metaverse contributes. Contact: Jason Lee info@ipollo.com https://ipollo.com/ To view the source version of this press release, please visit https://www.newsfilecorp.com/release/101333 || Investors: Put some crypto in your portfolio but ‘handle it with care’: Bitcoin and other cryptocurrencies are volatile and have been viewed as risky by skeptics within Wall Street ranks and veteran investors.
And yet, more are warming up to the notion of crypto as part of a diversified portfolio, given what’s being viewed as its technological staying power. Amy Arnott, a portfolio strategist for Morningstar, says cryptocurrencies can be a part of a diversified portfolio.
“Crypto is definitely becoming more established as a separate asset class and moving more into the investment mainstream,” she toldYahoo Finance’s All Markets Summitthis week, as part of a crypto panel discussion. “It's definitely something that long-term investors should consider if they're more risk tolerant.”
However, Arnott recommended keeping crypto to a smaller allocation of an overall portfolio, noting that 1%-2% can go a long way. “I would definitely handle it with care, because the volatility has been so high. Even a very small percentage of cryptocurrency can really spike up your portfolio's risk profile,” Arnott added.
The global cryptocurrency market is now worth over $2.6 trillion and growing. Bitcoin is notoriously volatile, but in some instances has demonstrated a lower correlation with mainstream asset classes like stocks and bonds, and sold off less with other risk assets when markets drop.
... if you're looking to add crypto exposure to your portfolio, you're probably better off buying it directly through a crypto exchange or platform.Amy Arnott, a portfolio strategist for Morningstar
Isaiah Jackson, the best-selling author of “Bitcoin & Black America,” says bitcoin is a long-term asset and will remain that way.
“If you want to be a part of it, you have to think long-term,” he told Yahoo Finance this week.
“In any new market you will have volatility. You're not going to get rich just because you entered the market. You do have to have patience. But if you invest long-term the volatility does not matter,” he added.
Arnott said investing in crypto can be thought of as investing in the Internet in the late 1990s. “I think you have a lot of the same kind of growth trajectories,” she said.
“Consider it a growth asset and really a play on the long-term shift toward digital money and the ongoing revolution in the financial technology landscape,” Arnott explained. “You're not directly investing in the underlying technology, but you are getting indirect exposure to it.”
The strategist pointed to developments in payment processing, smart contracts, blockchain, NFTs (non-fungible tokens) and gift cards as examples. In the payments space, cryptocurrency exchange Bakkt (BKKT) announced this week that it’s partnering with Mastercard (MA) tooffer crypto debit and credit cards, making it easier for consumers to pay using cryptocurrencies.
The companies will also offer the ability to earn rewards in cryptocurrency through their card spending.
“We want to be able to provide the ability to be able to use cryptocurrency in an everyday transaction,” Bakkt CEO Gavin Michael told Yahoo Finance.
“The Mastercard partnership includes the ability for us to be able to deliver crypto rewards, another way to gain an asset holding in this space in a fairly easy way.”
The ability to gain exposure to bitcoin has become easier after the Securities & Exchange Commission last week greenlighted thefirst bitcoin futures exchange-traded fund(ETF). But while that’s made it easier for investors to gain exposure, it may not necessarily be the best way to invest.
Arnott says the ETFs offer more transparency, and are easier to buy through an existing brokerage account — but they may not track the price of Bitcoin exactly, leading investors to miss out on the full gains of the underlying digital asset.
The ETFs are buying the front-month futures contract. As those contracts roll over, funds may have to purchase the futures at a higher price. Arnott estimates gains could be off 5% or 10% each year. That makes purchasing the actual cryptocurrencies through crypto exchanges the better bet.
“I think we will eventually see a crypto ETF that tracks the spot price,” says Arnott. “But at this point, if you're looking to add crypto exposure to your portfolio, you're probably better off buying it directly through a crypto exchange or platform.”
Bakkt has allowed trading in bitcoin futures before ETFs were available. Michael also believes ETFs will eventually be allowed to invest in the actual cryptocurrency, instead of just the futures contracts. He says he thinks the bitcoin futures ETFs will actually help smooth out volatility over time, since it will allow more investors to participate.
“We expect evolution in this space to move away from cash-settled prices through the futures contracts into physically delivered contracts, as has been the norm for other ETFs that have tracked based on a commodity,” he said.
Read the latest financial and business news from Yahoo Finance
Read the latest cryptocurrency and bitcoin news from Yahoo Finance
Follow Yahoo Finance onTwitter,Instagram,YouTube,Facebook,Flipboard, andLinkedIn || Investors: Put some crypto in your portfolio but ‘handle it with care’: Bitcoin and other cryptocurrencies are volatile and have been viewed as risky by skeptics within Wall Street ranks and veteran investors. And yet, more are warming up to the notion of crypto as part of a diversified portfolio, given what’s being viewed as its technological staying power. Amy Arnott, a portfolio strategist for Morningstar, says cryptocurrencies can be a part of a diversified portfolio. “Crypto is definitely becoming more established as a separate asset class and moving more into the investment mainstream,” she told Yahoo Finance’s All Markets Summit this week, as part of a crypto panel discussion. “It's definitely something that long-term investors should consider if they're more risk tolerant.” However, Arnott recommended keeping crypto to a smaller allocation of an overall portfolio, noting that 1%-2% can go a long way. “I would definitely handle it with care, because the volatility has been so high. Even a very small percentage of cryptocurrency can really spike up your portfolio's risk profile,” Arnott added. The global cryptocurrency market is now worth over $2.6 trillion and growing. Bitcoin is notoriously volatile, but in some instances has demonstrated a lower correlation with mainstream asset classes like stocks and bonds, and sold off less with other risk assets when markets drop. ... if you're looking to add crypto exposure to your portfolio, you're probably better off buying it directly through a crypto exchange or platform. Amy Arnott, a portfolio strategist for Morningstar Isaiah Jackson, the best-selling author of “Bitcoin & Black America,” says bitcoin is a long-term asset and will remain that way. “If you want to be a part of it, you have to think long-term,” he told Yahoo Finance this week. “In any new market you will have volatility. You're not going to get rich just because you entered the market. You do have to have patience. But if you invest long-term the volatility does not matter,” he added. Story continues Arnott said investing in crypto can be thought of as investing in the Internet in the late 1990s. “I think you have a lot of the same kind of growth trajectories,” she said. “Consider it a growth asset and really a play on the long-term shift toward digital money and the ongoing revolution in the financial technology landscape,” Arnott explained. “You're not directly investing in the underlying technology, but you are getting indirect exposure to it.” The strategist pointed to developments in payment processing, smart contracts, blockchain, NFTs (non-fungible tokens) and gift cards as examples. In the payments space, cryptocurrency exchange Bakkt ( BKKT ) announced this week that it’s partnering with Mastercard ( MA ) to offer crypto debit and credit cards , making it easier for consumers to pay using cryptocurrencies. The companies will also offer the ability to earn rewards in cryptocurrency through their card spending. “We want to be able to provide the ability to be able to use cryptocurrency in an everyday transaction,” Bakkt CEO Gavin Michael told Yahoo Finance. “The Mastercard partnership includes the ability for us to be able to deliver crypto rewards, another way to gain an asset holding in this space in a fairly easy way.” ETFs vs exchanges Representations of Bitcoin and other cryptocurrencies on a screen showing binary codes are seen through a magnifying glass in this illustration picture taken September 27, 2021. REUTERS/Florence Lo/Illustration (Florence Lo / reuters) The ability to gain exposure to bitcoin has become easier after the Securities & Exchange Commission last week greenlighted the first bitcoin futures exchange-traded fund (ETF). But while that’s made it easier for investors to gain exposure, it may not necessarily be the best way to invest. Arnott says the ETFs offer more transparency, and are easier to buy through an existing brokerage account — but they may not track the price of Bitcoin exactly, leading investors to miss out on the full gains of the underlying digital asset. The ETFs are buying the front-month futures contract. As those contracts roll over, funds may have to purchase the futures at a higher price. Arnott estimates gains could be off 5% or 10% each year. That makes purchasing the actual cryptocurrencies through crypto exchanges the better bet. “I think we will eventually see a crypto ETF that tracks the spot price,” says Arnott. “But at this point, if you're looking to add crypto exposure to your portfolio, you're probably better off buying it directly through a crypto exchange or platform.” Bakkt has allowed trading in bitcoin futures before ETFs were available. Michael also believes ETFs will eventually be allowed to invest in the actual cryptocurrency, instead of just the futures contracts. He says he thinks the bitcoin futures ETFs will actually help smooth out volatility over time, since it will allow more investors to participate. “We expect evolution in this space to move away from cash-settled prices through the futures contracts into physically delivered contracts, as has been the norm for other ETFs that have tracked based on a commodity,” he said. Read the latest financial and business news from Yahoo Finance Read the latest cryptocurrency and bitcoin news from Yahoo Finance Follow Yahoo Finance on Twitter , Instagram , YouTube , Facebook , Flipboard , and LinkedIn || Cathie Wood's $500K Bitcoin call is already happening — how to ride the wave to half a million: Cathie Wood's $500K Bitcoin call is already happening — how to ride the wave to half a million Cathie Wood isn’t afraid to make bold predictions. Back in early 2018, the owner of Ark Invest said Tesla shares would go from $300 to $4,000 within five years — a potential upside of around 1,200%. Yet Tesla hit the target early. This January, Tesla shares surged past the $800 mark, or $4,000 on a split-adjusted basis. Pretty astounding, but Tesla may not be Wood’s most bullish call at the moment. Last month, she told CNBC that the price of Bitcoin could soar to half a million dollars in five years. “If we’re right and companies continue to diversify their cash into something like Bitcoin, and institutional investors start allocating 5% of their funds in Bitcoin [...] we believe the price will be ten-fold what it is today. Instead of $45,000, over $500,000,” she said. Bitcoin is already moving in that direction; the cryptocurrency trades at around $62,000 at the time of this writing. Here are a couple ways to play the crypto boom, even if you’re just dabbling with some of your “spare change.” Bitcoin ETFs lp-studio / Shutterstock Wood herself is offering a new way to invest in cryptocurrency. In September, Ark Next Generation Internet ETF tweaked its prospectus to include exposure to Bitcoin via Canadian ETFs. The first bitcoin ETF on the New York Stock Exchange just started trading last week, but Canada has been ahead of the U.S. for a while. Several Bitcoin ETFs launched in Canada this year, including Purpose Bitcoin ETF, 3iQ CoinShares Bitcoin ETF, CI Galaxy Bitcoin ETF and Evolve Bitcoin ETF. In the U.S., the debut of the ProShare Bitcoin Strategy ETF was arguably a major catalyst behind Bitcoin’s latest rally. The fund holds bitcoin futures contracts that trade on the Chicago Mercantile Exchange. Investors who want exposure to the crypto market can invest in these ETFs, but you can also buy Bitcoin directly. Some investing apps allow you to buy both cryptocurrencies and ETFs commission-free . Cryptocurrency stocks JOCA_PH / Shutterstock Companies that have tied themselves to the crypto market provide another way for investors to benefit from the crypto rally. Story continues For instance, enterprise software company MicroStrategy purchased 9,000 bitcoins in Q3. That brings its total bitcoin count to 114,042, a stockpile worth roughly $7 billion. Because of MicroStrategy’s huge Bitcoin stake, some investors have used it as a proxy for investing in the cryptocurrency. In the past, rallies in Bitcoin usually led to similar moves in MicroStrategy’s share price. Then there’s Riot Blockchain, which mines Bitcoin and hosts Bitcoin mining equipment for institutional clients. Thanks to soaring Bitcoin prices, Riot shares have returned a staggering 577% over the past 12 months. Investors can also check out Coinbase, which runs the largest cryptocurrency exchange in the U.S. The company’s share price fell below its IPO price of $250 during the summer, but the recent pop in cryptocurrencies has brought it back to over $300. And while crypto stocks can be pricey, you can get a piece of these companies using a popular app that allows you to buy fractions of shares with as much money as you’re willing to spend. A 'finer' alternative? Giorgiolo / Shutterstock At the end of the day, cryptocurrencies are volatile. Not everyone feels comfortable holding an asset that seems to make wild swings every week. If you want to invest in something that has little correlation with the ups and downs of the stock market and the crypto market, you might want to consider an overlooked asset: fine art. Contemporary artwork has already outperformed the S&P 500 by a commanding 174% over the past 25 years, according to the Citi Global Art Market chart. Investing in art by the likes of Banksy and Andy Warhol used to be an option only for the ultra-rich, like Wood. But with a new investing platform, you can invest in iconic artworks , too, just like Jeff Bezos and Bill Gates do. This article provides information only and should not be construed as advice. It is provided without warranty of any kind. || Cathie Wood's $500K Bitcoin call is already happening — how to ride the wave to half a million: Cathie Wood isn’t afraid to make bold predictions.
Back in early 2018, the owner of Ark Invest said Tesla shares would go from $300 to $4,000 within five years — a potential upside of around 1,200%.
Yet Tesla hit the target early. This January, Tesla shares surged past the $800 mark, or $4,000 on a split-adjusted basis.
Pretty astounding, but Tesla may not be Wood’s most bullish call at the moment. Last month, she told CNBC that the price of Bitcoin could soar to half a million dollars in five years.
“If we’re right and companies continue to diversify their cash into something like Bitcoin, and institutional investors start allocating 5% of their funds in Bitcoin [...] we believe the price will be ten-fold what it is today. Instead of $45,000, over $500,000,” she said.
Bitcoin is already moving in that direction; the cryptocurrency trades at around $62,000 at the time of this writing.
Here are a couple ways to play the crypto boom, even if you’re just dabbling with some ofyour “spare change.”
Wood herself is offering a new way to invest in cryptocurrency. In September, Ark Next Generation Internet ETF tweaked its prospectus to include exposure to Bitcoin via Canadian ETFs.
The first bitcoin ETF on the New York Stock Exchange just started trading last week, but Canada has been ahead of the U.S. for a while. Several Bitcoin ETFs launched in Canada this year, including Purpose Bitcoin ETF, 3iQ CoinShares Bitcoin ETF, CI Galaxy Bitcoin ETF and Evolve Bitcoin ETF.
In the U.S., the debut of the ProShare Bitcoin Strategy ETF was arguably a major catalyst behind Bitcoin’s latest rally. The fund holds bitcoin futures contracts that trade on the Chicago Mercantile Exchange.
Investors who want exposure to the crypto market can invest in these ETFs, but you can also buy Bitcoin directly. Some investing apps allow you to buy both cryptocurrencies and ETFscommission-free.
Companies that have tied themselves to the crypto market provide another way for investors to benefit from the crypto rally.
For instance, enterprise software company MicroStrategy purchased 9,000 bitcoins in Q3. That brings its total bitcoin count to 114,042, a stockpile worth roughly $7 billion.
Because of MicroStrategy’s huge Bitcoin stake, some investors have used it as a proxy for investing in the cryptocurrency. In the past, rallies in Bitcoin usually led to similar moves in MicroStrategy’s share price.
Then there’s Riot Blockchain, which mines Bitcoin and hosts Bitcoin mining equipment for institutional clients. Thanks to soaring Bitcoin prices, Riot shares have returned a staggering 577% over the past 12 months.
Investors can also check out Coinbase, which runs the largest cryptocurrency exchange in the U.S. The company’s share price fell below its IPO price of $250 during the summer, but the recent pop in cryptocurrencies has brought it back to over $300.
And while crypto stocks can be pricey, you can get a piece of these companies using a popular app that allows you tobuy fractions of shareswith as much money as you’re willing to spend.
At the end of the day, cryptocurrencies are volatile. Not everyone feels comfortable holding an asset that seems to make wild swings every week.
If you want to invest in something that has little correlation with the ups and downs of the stock market and the crypto market, you might want to consider an overlooked asset: fine art.
Contemporary artwork has already outperformed the S&P 500 by a commanding 174% over the past 25 years, according to the Citi Global Art Market chart.
Investing in art by the likes of Banksy and Andy Warhol used to be an option only for the ultra-rich, like Wood. But with a new investing platform, you caninvest in iconic artworks, too, just like Jeff Bezos and Bill Gates do.
This article provides information only and should not be construed as advice. It is provided without warranty of any kind. || Cathie Wood's $500K Bitcoin call is already happening — how to ride the wave to half a million: Cathie Wood isn’t afraid to make bold predictions.
Back in early 2018, the owner of Ark Invest said Tesla shares would go from $300 to $4,000 within five years — a potential upside of around 1,200%.
Yet Tesla hit the target early. This January, Tesla shares surged past the $800 mark, or $4,000 on a split-adjusted basis.
Pretty astounding, but Tesla may not be Wood’s most bullish call at the moment. Last month, she told CNBC that the price of Bitcoin could soar to half a million dollars in five years.
“If we’re right and companies continue to diversify their cash into something like Bitcoin, and institutional investors start allocating 5% of their funds in Bitcoin [...] we believe the price will be ten-fold what it is today. Instead of $45,000, over $500,000,” she said.
Bitcoin is already moving in that direction; the cryptocurrency trades at around $62,000 at the time of this writing.
Here are a couple ways to play the crypto boom, even if you’re just dabbling with some ofyour “spare change.”
Wood herself is offering a new way to invest in cryptocurrency. In September, Ark Next Generation Internet ETF tweaked its prospectus to include exposure to Bitcoin via Canadian ETFs.
The first bitcoin ETF on the New York Stock Exchange just started trading last week, but Canada has been ahead of the U.S. for a while. Several Bitcoin ETFs launched in Canada this year, including Purpose Bitcoin ETF, 3iQ CoinShares Bitcoin ETF, CI Galaxy Bitcoin ETF and Evolve Bitcoin ETF.
In the U.S., the debut of the ProShare Bitcoin Strategy ETF was arguably a major catalyst behind Bitcoin’s latest rally. The fund holds bitcoin futures contracts that trade on the Chicago Mercantile Exchange.
Investors who want exposure to the crypto market can invest in these ETFs, but you can also buy Bitcoin directly. Some investing apps allow you to buy both cryptocurrencies and ETFscommission-free.
Companies that have tied themselves to the crypto market provide another way for investors to benefit from the crypto rally.
For instance, enterprise software company MicroStrategy purchased 9,000 bitcoins in Q3. That brings its total bitcoin count to 114,042, a stockpile worth roughly $7 billion.
Because of MicroStrategy’s huge Bitcoin stake, some investors have used it as a proxy for investing in the cryptocurrency. In the past, rallies in Bitcoin usually led to similar moves in MicroStrategy’s share price.
Then there’s Riot Blockchain, which mines Bitcoin and hosts Bitcoin mining equipment for institutional clients. Thanks to soaring Bitcoin prices, Riot shares have returned a staggering 577% over the past 12 months.
Investors can also check out Coinbase, which runs the largest cryptocurrency exchange in the U.S. The company’s share price fell below its IPO price of $250 during the summer, but the recent pop in cryptocurrencies has brought it back to over $300.
And while crypto stocks can be pricey, you can get a piece of these companies using a popular app that allows you tobuy fractions of shareswith as much money as you’re willing to spend.
At the end of the day, cryptocurrencies are volatile. Not everyone feels comfortable holding an asset that seems to make wild swings every week.
If you want to invest in something that has little correlation with the ups and downs of the stock market and the crypto market, you might want to consider an overlooked asset: fine art.
Contemporary artwork has already outperformed the S&P 500 by a commanding 174% over the past 25 years, according to the Citi Global Art Market chart.
Investing in art by the likes of Banksy and Andy Warhol used to be an option only for the ultra-rich, like Wood. But with a new investing platform, you caninvest in iconic artworks, too, just like Jeff Bezos and Bill Gates do.
This article provides information only and should not be construed as advice. It is provided without warranty of any kind. || Bitcoin Latinum & OSO ATMs Enters into a 3 Year Partnership to Install LTNM ATMs in US: PALO ALTO, Calif., Oct. 30, 2021 (GLOBE NEWSWIRE) -- Bitcoin Latinum, the next generation, insured asset-backed cryptocurrency, is proud to announce an exclusive partnership with OSO ATMs, one of the biggest ATM providers, to help install 100,000 Bitcoin Latinum ATMs across all fifty states in the United States.
Developed by Monsoon Blockchain Corporation on behalf of Bitcoin Latinum Foundation, LTNM is a greener, faster, and more secure version of Bitcoin, capable of managing massive crypto transactions while being highly efficient in terms of cost and scalability. As part of its plan towards crypto-adoption, Bitcoin Latinum has partnered up with various trading platforms to list its native LTNM token for trading.
Partnering with a full-service ATM company, OSO ATMs, sets a new journey for Bitcoin Latinum to further span its vision of making crypto easily accessible for everyone. Besides, it’ll help the cryptocurrency to further span its customer reach. As part of the partnership, OSO ATM will help Bitcoin Latinum install 100,000 ATMs across all 50 US states, where users can easily buy LTNM tokens by using their fiat currencies.
Commenting on the partnership, Donald Basile, the founder of Bitcoin Latinum, said in an interview, “OSO is aiming to install 25,000 ATMs by the end of January 2022. This partnership will allow the users of different states of the U.S to buy or cash out Bitcoin Latinum and Bitcoin, which will further help in the mass adoption of Bitcoin Latinum.”
OSO ATM is an ARIZONA-based ATM company providing different ATM services including ATM processing, customized ATM branding, ATM Equipment sales, etc., to customers in all 50 states of the United States. Additionally, the ATM provider offers Bitcoin Kiosk machines. However, with this exclusive partnership of 5 years, OSO ATMs will help install 60,000 LTNM ATMs throughout these 5 years. The company has aimed to install a minimum of 8,000 ATMs by the end of 2022 across different states in the US.
Arikat, Chief Operating Officer at OSO ATM-Nationwide ATM Company, shared his views on the partnership and said, “The operation of crypto ATMs is picking up pace in other parts of the world as well. In El Salvador for instance, Bitcoin ATMs allow people to transact in the crypto token or convert it to fiat. Bitcoin Latinum aims to bring the ease of using cryptocurrencies in the United States, and we are extremely proud to be a part of their journey to take cryptocurrencies to the mainstream audience. “
About Bitcoin Latinum
Bitcoin Latinum is the next generation, insured asset-backed cryptocurrency. Based on the Bitcoin ecosystem, Bitcoin Latinum is greener, faster, and more secure, poised to revolutionize digital transactions. Using an energy-efficient Proof of Stake consensus algorithm, Bitcoin Latinum plans to bring better transaction speed, lower fees, and more security to high growth markets such as Media, Gaming, Telecommunication, and Cloud Computing.
For more information, please visithttps://bitcoinlatinum.com
Twitter:https://twitter.com/bitcoinlatinum
About OSO ATMs
OSO ATM is a nationwide ATM company providing ATM service to customers in all 50 states. OSO is dedicated to serving our customers, distributors, ATM affiliates with the most competitive pricing and service to help maximize profits. The company has over a 99.5% retention rate and offer 24-hour tech support and online tools to help manage businesses more efficiently
For more information, please visithttps://osoatm.com/
Media contact
Company: Bitcoin Latinum
Contact: Kai Okada, Director of Communications
E-mail: kai.okada@bitcoinlatinum.com
Website:https://bitcoinlatinum.com/
Address: 2100 Geng Road, Palo Alto, California 94303, USA
Telephone: +1 800-528-0985
SOURCE: Bitcoin Latinum || Bitcoin Latinum & OSO ATMs Enters into a 3 Year Partnership to Install LTNM ATMs in US: PALO ALTO, Calif., Oct. 30, 2021 (GLOBE NEWSWIRE) -- Bitcoin Latinum, the next generation, insured asset-backed cryptocurrency, is proud to announce an exclusive partnership with OSO ATMs, one of the biggest ATM providers, to help install 100,000 Bitcoin Latinum ATMs across all fifty states in the United States.
Developed by Monsoon Blockchain Corporation on behalf of Bitcoin Latinum Foundation, LTNM is a greener, faster, and more secure version of Bitcoin, capable of managing massive crypto transactions while being highly efficient in terms of cost and scalability. As part of its plan towards crypto-adoption, Bitcoin Latinum has partnered up with various trading platforms to list its native LTNM token for trading.
Partnering with a full-service ATM company, OSO ATMs, sets a new journey for Bitcoin Latinum to further span its vision of making crypto easily accessible for everyone. Besides, it’ll help the cryptocurrency to further span its customer reach. As part of the partnership, OSO ATM will help Bitcoin Latinum install 100,000 ATMs across all 50 US states, where users can easily buy LTNM tokens by using their fiat currencies.
Commenting on the partnership, Donald Basile, the founder of Bitcoin Latinum, said in an interview, “OSO is aiming to install 25,000 ATMs by the end of January 2022. This partnership will allow the users of different states of the U.S to buy or cash out Bitcoin Latinum and Bitcoin, which will further help in the mass adoption of Bitcoin Latinum.”
OSO ATM is an ARIZONA-based ATM company providing different ATM services including ATM processing, customized ATM branding, ATM Equipment sales, etc., to customers in all 50 states of the United States. Additionally, the ATM provider offers Bitcoin Kiosk machines. However, with this exclusive partnership of 5 years, OSO ATMs will help install 60,000 LTNM ATMs throughout these 5 years. The company has aimed to install a minimum of 8,000 ATMs by the end of 2022 across different states in the US.
Arikat, Chief Operating Officer at OSO ATM-Nationwide ATM Company, shared his views on the partnership and said, “The operation of crypto ATMs is picking up pace in other parts of the world as well. In El Salvador for instance, Bitcoin ATMs allow people to transact in the crypto token or convert it to fiat. Bitcoin Latinum aims to bring the ease of using cryptocurrencies in the United States, and we are extremely proud to be a part of their journey to take cryptocurrencies to the mainstream audience. “
About Bitcoin Latinum
Bitcoin Latinum is the next generation, insured asset-backed cryptocurrency. Based on the Bitcoin ecosystem, Bitcoin Latinum is greener, faster, and more secure, poised to revolutionize digital transactions. Using an energy-efficient Proof of Stake consensus algorithm, Bitcoin Latinum plans to bring better transaction speed, lower fees, and more security to high growth markets such as Media, Gaming, Telecommunication, and Cloud Computing.
For more information, please visithttps://bitcoinlatinum.com
Twitter:https://twitter.com/bitcoinlatinum
About OSO ATMs
OSO ATM is a nationwide ATM company providing ATM service to customers in all 50 states. OSO is dedicated to serving our customers, distributors, ATM affiliates with the most competitive pricing and service to help maximize profits. The company has over a 99.5% retention rate and offer 24-hour tech support and online tools to help manage businesses more efficiently
For more information, please visithttps://osoatm.com/
Media contact
Company: Bitcoin Latinum
Contact: Kai Okada, Director of Communications
E-mail: kai.okada@bitcoinlatinum.com
Website:https://bitcoinlatinum.com/
Address: 2100 Geng Road, Palo Alto, California 94303, USA
Telephone: +1 800-528-0985
SOURCE: Bitcoin Latinum || Bitcoin Latinum & OSO ATMs Enters into a 3 Year Partnership to Install LTNM ATMs in US: PALO ALTO, Calif., Oct. 30, 2021 (GLOBE NEWSWIRE) -- Bitcoin Latinum, the next generation, insured asset-backed cryptocurrency, is proud to announce an exclusive partnership with OSO ATMs, one of the biggest ATM providers, to help install 100,000 Bitcoin Latinum ATMs across all fifty states in the United States. Developed by Monsoon Blockchain Corporation on behalf of Bitcoin Latinum Foundation, LTNM is a greener, faster, and more secure version of Bitcoin, capable of managing massive crypto transactions while being highly efficient in terms of cost and scalability. As part of its plan towards crypto-adoption, Bitcoin Latinum has partnered up with various trading platforms to list its native LTNM token for trading. Partnering with a full-service ATM company, OSO ATMs, sets a new journey for Bitcoin Latinum to further span its vision of making crypto easily accessible for everyone. Besides, itll help the cryptocurrency to further span its customer reach. As part of the partnership, OSO ATM will help Bitcoin Latinum install 100,000 ATMs across all 50 US states, where users can easily buy LTNM tokens by using their fiat currencies. Commenting on the partnership, Donald Basile, the founder of Bitcoin Latinum, said in an interview, OSO is aiming to install 25,000 ATMs by the end of January 2022. This partnership will allow the users of different states of the U.S to buy or cash out Bitcoin Latinum and Bitcoin, which will further help in the mass adoption of Bitcoin Latinum. OSO ATM is an ARIZONA-based ATM company providing different ATM services including ATM processing, customized ATM branding, ATM Equipment sales, etc., to customers in all 50 states of the United States. Additionally, the ATM provider offers Bitcoin Kiosk machines. However, with this exclusive partnership of 5 years, OSO ATMs will help install 60,000 LTNM ATMs throughout these 5 years. The company has aimed to install a minimum of 8,000 ATMs by the end of 2022 across different states in the US. Story continues Arikat, Chief Operating Officer at OSO ATM-Nationwide ATM Company, shared his views on the partnership and said, The operation of crypto ATMs is picking up pace in other parts of the world as well. In El Salvador for instance, Bitcoin ATMs allow people to transact in the crypto token or convert it to fiat. Bitcoin Latinum aims to bring the ease of using cryptocurrencies in the United States, and we are extremely proud to be a part of their journey to take cryptocurrencies to the mainstream audience. About Bitcoin Latinum Bitcoin Latinum is the next generation, insured asset-backed cryptocurrency. Based on the Bitcoin ecosystem, Bitcoin Latinum is greener, faster, and more secure, poised to revolutionize digital transactions. Using an energy-efficient Proof of Stake consensus algorithm, Bitcoin Latinum plans to bring better transaction speed, lower fees, and more security to high growth markets such as Media, Gaming, Telecommunication, and Cloud Computing. For more information, please visit https://bitcoinlatinum.com Twitter: https://twitter.com/bitcoinlatinum About OSO ATMs OSO ATM is a nationwide ATM company providing ATM service to customers in all 50 states. OSO is dedicated to serving our customers, distributors, ATM affiliates with the most competitive pricing and service to help maximize profits. The company has over a 99.5% retention rate and offer 24-hour tech support and online tools to help manage businesses more efficiently For more information, please visit https://osoatm.com/ Media contact Company: Bitcoin Latinum Contact: Kai Okada, Director of Communications E-mail: kai.okada@bitcoinlatinum.com Website: https://bitcoinlatinum.com/ Address: 2100 Geng Road, Palo Alto, California 94303, USA Telephone: +1 800-528-0985 SOURCE : Bitcoin Latinum || Next-generation Cryptocurrency Bitcoin Latinum (LTNM) Continues Expansion Strategy with Eigth Listing on Hotbit Exchange: Demand for Bitcoin Latinum showcases a strong appetite for new digital currencies worldwide
PALO ALTO, Calif., Oct. 30, 2021 (GLOBE NEWSWIRE) -- Bitcoin Latinum (LTNM), the next generation insured asset-backed cryptocurrency, continues its aggressive expansion strategy and will be listed on Hotbit, a premier global digital asset trading platform, at the middle of Nov 2021. LTNM will be available for trading with BTC and USDT pairs, and demonstrates the growing appetite for additional digital currencies such as Bitcoin Latinum to begin trading worldwide.
"The strong demand for new digital currencies such as Bitcoin Latinum is clear. Hotbit is the perfect digital exchange partner as it is our eighth exchange to date. This is a milestone event in the history of Bitcoin Latinum and we continue to reach wider audiences and showcase our coins' unique digital assets around the world," said Donald Basile, Founder of Bitcoin Latinum and CEO of Monsoon Blockchain Corporation.
Bitcoin Latinum is a fully insured asset-backed cryptocurrency based on the Bitcoin ecosystem. Developed by Monsoon Blockchain Corporation on behalf of Bitcoin Latinum Foundation, LTNM is a greener, faster, and more secure version of Bitcoin, capable of managing massive crypto transactions while being highly efficient in terms of cost and scalability. As a revolutionary new Bitcoin blockchain-based token, LTNM focuses on disrupting high-growth industries like Media, Gaming, Telecommunications, and Cloud Computing.
Improving on Bitcoin's energy-usage concerns, LTNM utilizes a proof-of-stake (PoS) algorithm to achieve consensus, which not only increases the TPS rate of the network but also significantly minimizes the fee. Besides, unlike other crypto assets, LTNM is insured, and backed by real-world and digital assets. Its asset backing is held in a fund model so that base asset value increases over time. It accelerates this asset-backed funds growth by depositing 80% of the transaction fee back into the asset fund that backs the currency. Thus, the more Bitcoin Latinum is adopted, the faster its asset funds grow, creating a self-inflating currency. Furthermore, users and businesses can unlock new revenue streams while lowering their transactional costs. The listing on Hotbit highlights the Bitcoin Latinum Foundation's commitment to supporting the growth of a sustainable crypto ecosystem.
Hotbit is pleased to add LTNM to our portfolio. As the ecosystem moves towards energy efficiency, next-generation assets like Bitcoin Latinum with its increased speed and low transaction fees are bound to grow exponentially within the industry as a method of digital transaction. Hotbit believes in Bitcoin Latinum's ability to deliver a simple, secure, and sustainable experience to the Hotbit's emerging market community.
About Bitcoin Latinum
Bitcoin Latinum is the next generation, fully insured asset-backed cryptocurrency. Based on the Bitcoin ecosystem, Bitcoin Latinum is greener, faster, and more secure, poised to revolutionize digital transactions. Using an energy-efficient Proof of Stake consensus algorithm, Bitcoin Latinum plans to bring better transaction speed, lower fees, and more security to high growth markets such as Media, Gaming, Telecommunication, and Cloud Computing.
For more information, please visithttps://bitcoinlatinum.com
Twitter:https://twitter.com/bitcoinlatinum
About Hotbit Exchange
Hotbit exchange is a premier global digital assets trading platform with more than 2000 trading pairs in total and was ranked no.1 among all exchanges regarding the number of types of cryptocurrency projects listed. Hotbit has accumulated 3,000,000+ registered users from more than 210 countries and areas all over the world. To learn more about Hotbit, visit theirwebsite, follow theirTwitterfor more updated news and promotions.
FOR EDUCATIONAL AND INFORMATION PURPOSES ONLY; NOT INVESTMENT ADVICE. Any information offered is for educational and informational purposes only and should NOT be construed as a securities-related offer or solicitation or be relied upon as personalized investment advice. Bitcoin Latinum strongly recommends you consult a licensed or registered professional before making any investment decision.
Media contact
Company: Bitcoin Latinum
Contact: Kai Okada, Director of Communications
E-mail: kai.okada@bitcoinlatinum.com
Website:https://bitcoinlatinum.com/
Address: 2100 Geng Road, Palo Alto, California 94303, USA
Telephone: +1 800-528-0985
SOURCE: Bitcoin Latinum || Next-generation Cryptocurrency Bitcoin Latinum (LTNM) Continues Expansion Strategy with Eigth Listing on Hotbit Exchange: Demand for Bitcoin Latinum showcases a strong appetite for new digital currencies worldwide
PALO ALTO, Calif., Oct. 30, 2021 (GLOBE NEWSWIRE) -- Bitcoin Latinum (LTNM), the next generation insured asset-backed cryptocurrency, continues its aggressive expansion strategy and will be listed on Hotbit, a premier global digital asset trading platform, at the middle of Nov 2021. LTNM will be available for trading with BTC and USDT pairs, and demonstrates the growing appetite for additional digital currencies such as Bitcoin Latinum to begin trading worldwide.
"The strong demand for new digital currencies such as Bitcoin Latinum is clear. Hotbit is the perfect digital exchange partner as it is our eighth exchange to date. This is a milestone event in the history of Bitcoin Latinum and we continue to reach wider audiences and showcase our coins' unique digital assets around the world," said Donald Basile, Founder of Bitcoin Latinum and CEO of Monsoon Blockchain Corporation.
Bitcoin Latinum is a fully insured asset-backed cryptocurrency based on the Bitcoin ecosystem. Developed by Monsoon Blockchain Corporation on behalf of Bitcoin Latinum Foundation, LTNM is a greener, faster, and more secure version of Bitcoin, capable of managing massive crypto transactions while being highly efficient in terms of cost and scalability. As a revolutionary new Bitcoin blockchain-based token, LTNM focuses on disrupting high-growth industries like Media, Gaming, Telecommunications, and Cloud Computing.
Improving on Bitcoin's energy-usage concerns, LTNM utilizes a proof-of-stake (PoS) algorithm to achieve consensus, which not only increases the TPS rate of the network but also significantly minimizes the fee. Besides, unlike other crypto assets, LTNM is insured, and backed by real-world and digital assets. Its asset backing is held in a fund model so that base asset value increases over time. It accelerates this asset-backed funds growth by depositing 80% of the transaction fee back into the asset fund that backs the currency. Thus, the more Bitcoin Latinum is adopted, the faster its asset funds grow, creating a self-inflating currency. Furthermore, users and businesses can unlock new revenue streams while lowering their transactional costs. The listing on Hotbit highlights the Bitcoin Latinum Foundation's commitment to supporting the growth of a sustainable crypto ecosystem.
Hotbit is pleased to add LTNM to our portfolio. As the ecosystem moves towards energy efficiency, next-generation assets like Bitcoin Latinum with its increased speed and low transaction fees are bound to grow exponentially within the industry as a method of digital transaction. Hotbit believes in Bitcoin Latinum's ability to deliver a simple, secure, and sustainable experience to the Hotbit's emerging market community.
About Bitcoin Latinum
Bitcoin Latinum is the next generation, fully insured asset-backed cryptocurrency. Based on the Bitcoin ecosystem, Bitcoin Latinum is greener, faster, and more secure, poised to revolutionize digital transactions. Using an energy-efficient Proof of Stake consensus algorithm, Bitcoin Latinum plans to bring better transaction speed, lower fees, and more security to high growth markets such as Media, Gaming, Telecommunication, and Cloud Computing.
For more information, please visithttps://bitcoinlatinum.com
Twitter:https://twitter.com/bitcoinlatinum
About Hotbit Exchange
Hotbit exchange is a premier global digital assets trading platform with more than 2000 trading pairs in total and was ranked no.1 among all exchanges regarding the number of types of cryptocurrency projects listed. Hotbit has accumulated 3,000,000+ registered users from more than 210 countries and areas all over the world. To learn more about Hotbit, visit theirwebsite, follow theirTwitterfor more updated news and promotions.
FOR EDUCATIONAL AND INFORMATION PURPOSES ONLY; NOT INVESTMENT ADVICE. Any information offered is for educational and informational purposes only and should NOT be construed as a securities-related offer or solicitation or be relied upon as personalized investment advice. Bitcoin Latinum strongly recommends you consult a licensed or registered professional before making any investment decision.
Media contact
Company: Bitcoin Latinum
Contact: Kai Okada, Director of Communications
E-mail: kai.okada@bitcoinlatinum.com
Website:https://bitcoinlatinum.com/
Address: 2100 Geng Road, Palo Alto, California 94303, USA
Telephone: +1 800-528-0985
SOURCE: Bitcoin Latinum || The Fat Ape Club to Launch Their Very Own NFT Project: New York, New York--(Newsfile Corp. - October 29, 2021) - The Fat Ape Club has been part of this historic revolution. Their launch will be on the 1st of November 2021. The project amassed 100,000 members on Discord in only 4 days, making it the most followed on Discord at the moment.
Fat Ape Club
To view an enhanced version of this graphic, please visit:https://orders.newsfilecorp.com/files/8203/101329_2cc7dc83b435c897_001full.jpg
But what exactly is the Fat Ape Club? Well, this is a tribe of 9,999 obese apes that partied too much and didn't exercise enough. Some years ago, the Fat apes used to live together on a remote island in the Pacific Ocean. However, the majority of them were captured by poachers who then sold the Fat Apes to multiple zoos around the world for profit.
The future is NFT. This massive movement is just beginning to take shape as a passive investment method. Between January and March 2021, statistics have shown that the total sales value shot up to $2 billion. The market grew by over 705% by the end of 2020.
Fortunately, 10 Fat Apes escaped from those zoos after being held captive for more than two decades. They are now on their way to free their colleagues but their ultimate goal remains unclear.
Each minter of those heroic apes will be rewarded with a $10,000 bonus. Therefore, if you are lucky enough to mint an Heroic Ape, you will receive a $10,000 bonus. Once the Fat Apes are sold out, the owner of the Lamborghini Ape will win a real Lamborghini, or an equivalent of $250,000 worth of Ethereum. In other words, the NFT project will award one lucky holder with a Lamborghini Huracán once the project sells out. 9 lucky holders will also win $10,000 each.
After the minting process is over, the Fat Ape Club team will start implementing breeding functions, which will allow holders of 2 or more apes to breed their apes together in order to generate new apes.
NFTs are gaining popularity and making headlines on mainstream media. Many people love them because of how their data can be safely stored in Blockchain. No person can therefore destroy, duplicate or replace them. NFTs are also scarce, making them valuable. Additionally, they are not divisible like Bitcoins and don't need a third party. NFTs therefore provide a secure certificate of ownership over a digital object, protecting the value of the goods. For sellers, it helps them sell something today and keep earning tomorrow.
The Fat Ape Club roadmap shows they are prudent in planning for the future. Their goal is geared towards the longevity of the project. They set aside 10% of the market, second market royalties dedicated to a special fund to ensure longevity through marketing campaigns and flourish sweeps. They want this collection to grow in value over time, giving its members more confidence in holding those NFTs.
Media details:
Name: Fat Ape
Website:fatapeclub.io
Email:pressrockethelp@gmail.com
Phone: 786357483
To view the source version of this press release, please visithttps://www.newsfilecorp.com/release/101329 || The Fat Ape Club to Launch Their Very Own NFT Project: New York, New York--(Newsfile Corp. - October 29, 2021) - The Fat Ape Club has been part of this historic revolution. Their launch will be on the 1st of November 2021. The project amassed 100,000 members on Discord in only 4 days, making it the most followed on Discord at the moment. Fat Ape Club To view an enhanced version of this graphic, please visit: https://orders.newsfilecorp.com/files/8203/101329_2cc7dc83b435c897_001full.jpg But what exactly is the Fat Ape Club? Well, this is a tribe of 9,999 obese apes that partied too much and didn't exercise enough. Some years ago, the Fat apes used to live together on a remote island in the Pacific Ocean. However, the majority of them were captured by poachers who then sold the Fat Apes to multiple zoos around the world for profit. The future is NFT. This massive movement is just beginning to take shape as a passive investment method. Between January and March 2021, statistics have shown that the total sales value shot up to $2 billion. The market grew by over 705% by the end of 2020. Fortunately, 10 Fat Apes escaped from those zoos after being held captive for more than two decades. They are now on their way to free their colleagues but their ultimate goal remains unclear. Each minter of those heroic apes will be rewarded with a $10,000 bonus. Therefore, if you are lucky enough to mint an Heroic Ape, you will receive a $10,000 bonus. Once the Fat Apes are sold out, the owner of the Lamborghini Ape will win a real Lamborghini, or an equivalent of $250,000 worth of Ethereum. In other words, the NFT project will award one lucky holder with a Lamborghini Huracán once the project sells out. 9 lucky holders will also win $10,000 each. After the minting process is over, the Fat Ape Club team will start implementing breeding functions, which will allow holders of 2 or more apes to breed their apes together in order to generate new apes. NFTs are gaining popularity and making headlines on mainstream media. Many people love them because of how their data can be safely stored in Blockchain. No person can therefore destroy, duplicate or replace them. NFTs are also scarce, making them valuable. Additionally, they are not divisible like Bitcoins and don't need a third party. NFTs therefore provide a secure certificate of ownership over a digital object, protecting the value of the goods. For sellers, it helps them sell something today and keep earning tomorrow. Story continues The Fat Ape Club roadmap shows they are prudent in planning for the future. Their goal is geared towards the longevity of the project. They set aside 10% of the market, second market royalties dedicated to a special fund to ensure longevity through marketing campaigns and flourish sweeps. They want this collection to grow in value over time, giving its members more confidence in holding those NFTs. Media details: Name: Fat Ape Website: fatapeclub.io Email: pressrockethelp@gmail.com Phone: 786357483 To view the source version of this press release, please visit https://www.newsfilecorp.com/release/101329 || The Crypto Daily – Movers and Shakers – October 30th, 2021: Bitcoin , BTC to USD, rose by 2.77% on Friday. Following a 3.70% gain on Thursday, Bitcoin ended the day at $62,257.7. A mixed start saw Bitcoin fall to an early morning intraday low $60,188.0 before making a move. Steering clear of the first major support level at $57,988, Bitcoin rallied to a late afternoon intraday high $62,980.0. Bitcoin broke through the first major resistance level at $62,826 before a fall back to sub-$62,000 levels. Finding late support, however, Bitcoin broke back through to $62,000 levels to deliver the upside on the day. The near-term bullish trend remained intact, supported the latest return to $66,000 levels. For the bears, Bitcoin would need a sustained fall through the 62% FIB of $27,237 to form a near-term bearish trend. The Rest of the Pack Across the rest of the majors, it was a bullish day on Friday. Binance Coin and Crypto.com Coin rallied by 7.70% and by 7.72% to lead the way. Bitcoin Cash SV (+4.79%), Ethereum (+3.10%), and Litecoin (+3.55) also found strong support. Chainlink (+2.37%), Cardano’s ADA (+1.42%), Polkadot (+2.69%), and Ripple’s XRP (+2.05%) trailed the front runners, however In the current week, the crypto total market rose to a Tuesday high $2,702bn before falling to a Thursday low $2,385bn. At the time of writing, the total market cap stood at $2,627bn. Bitcoin’s dominance fell to a Wednesday low 43.62% before rising to a Wednesday high 45.81%. At the time of writing, Bitcoin’s dominance stood at 44.57%. This Morning At the time of writing, Bitcoin was down by 0.24% to $62,108.0. A mixed start to the day saw Bitcoin rise to an early morning high $62,353.0 before falling to a low $62,107.0. Bitcoin left the major support and resistance levels untested early on. Elsewhere, it was a mixed start to the day. Binance Coin (+0.28%), Chainlink (+0.20%), and Crypto.com Coin (+0.36%) found early support. It was a bearish start for the rest of the majors, however. At the time of writing, Ethereum was down by 0.80% to lead the way down. Story continues For the Bitcoin Day Ahead Bitcoin would need to avoid the $61,809 pivot to bring the first major resistance level at $63,429 into play. Support from the broader market would be needed for Bitcoin to break out from Friday’s high $62,980.0. Barring a broad-based crypto rally, the first major resistance level would likely cap the upside. In the event of another breakout, Bitcoin could test resistance at $65,000 levels before any pullback. The second major resistance level sits at $64,601. A fall through the $61,809 pivot would bring the first major support level at $60,637 into play. Barring another extended sell-off on the day, Bitcoin should steer clear of sub-$59,000 levels, however. The second major support level at $59,017 should limit the downside. This article was originally posted on FX Empire More From FXEMPIRE: Silver Price Prediction – Prices Slip as Gold Leads Precious Metals Lower Shiba Inu Coin – Daily Tech Analysis – October 30th, 2021 Natural Gas Price Prediction – Prices Drop and Fall for the Week S&P 500 Weekly Price Forecast – Stock Markets Hit All-Time High Yet Again Crude Oil Weekly Price Forecast – Crude Oil Markets Continue to Find Buyers on Dips Vanguard Growth ETF (VUG) Up By 43% From Its 52-Week Low Price || The Crypto Daily – Movers and Shakers – October 30th, 2021: Bitcoin , BTC to USD, rose by 2.77% on Friday. Following a 3.70% gain on Thursday, Bitcoin ended the day at $62,257.7. A mixed start saw Bitcoin fall to an early morning intraday low $60,188.0 before making a move. Steering clear of the first major support level at $57,988, Bitcoin rallied to a late afternoon intraday high $62,980.0. Bitcoin broke through the first major resistance level at $62,826 before a fall back to sub-$62,000 levels. Finding late support, however, Bitcoin broke back through to $62,000 levels to deliver the upside on the day. The near-term bullish trend remained intact, supported the latest return to $66,000 levels. For the bears, Bitcoin would need a sustained fall through the 62% FIB of $27,237 to form a near-term bearish trend. The Rest of the Pack Across the rest of the majors, it was a bullish day on Friday. Binance Coin and Crypto.com Coin rallied by 7.70% and by 7.72% to lead the way. Bitcoin Cash SV (+4.79%), Ethereum (+3.10%), and Litecoin (+3.55) also found strong support. Chainlink (+2.37%), Cardano’s ADA (+1.42%), Polkadot (+2.69%), and Ripple’s XRP (+2.05%) trailed the front runners, however In the current week, the crypto total market rose to a Tuesday high $2,702bn before falling to a Thursday low $2,385bn. At the time of writing, the total market cap stood at $2,627bn. Bitcoin’s dominance fell to a Wednesday low 43.62% before rising to a Wednesday high 45.81%. At the time of writing, Bitcoin’s dominance stood at 44.57%. This Morning At the time of writing, Bitcoin was down by 0.24% to $62,108.0. A mixed start to the day saw Bitcoin rise to an early morning high $62,353.0 before falling to a low $62,107.0. Bitcoin left the major support and resistance levels untested early on. Elsewhere, it was a mixed start to the day. Binance Coin (+0.28%), Chainlink (+0.20%), and Crypto.com Coin (+0.36%) found early support. It was a bearish start for the rest of the majors, however. At the time of writing, Ethereum was down by 0.80% to lead the way down. Story continues For the Bitcoin Day Ahead Bitcoin would need to avoid the $61,809 pivot to bring the first major resistance level at $63,429 into play. Support from the broader market would be needed for Bitcoin to break out from Friday’s high $62,980.0. Barring a broad-based crypto rally, the first major resistance level would likely cap the upside. In the event of another breakout, Bitcoin could test resistance at $65,000 levels before any pullback. The second major resistance level sits at $64,601. A fall through the $61,809 pivot would bring the first major support level at $60,637 into play. Barring another extended sell-off on the day, Bitcoin should steer clear of sub-$59,000 levels, however. The second major support level at $59,017 should limit the downside. This article was originally posted on FX Empire More From FXEMPIRE: Silver Price Prediction – Prices Slip as Gold Leads Precious Metals Lower Shiba Inu Coin – Daily Tech Analysis – October 30th, 2021 Natural Gas Price Prediction – Prices Drop and Fall for the Week S&P 500 Weekly Price Forecast – Stock Markets Hit All-Time High Yet Again Crude Oil Weekly Price Forecast – Crude Oil Markets Continue to Find Buyers on Dips Vanguard Growth ETF (VUG) Up By 43% From Its 52-Week Low Price || Identity Thieves Exploit El Salvador’s Chivo Bitcoin Wallet’s Setup Process: At first, Cynthia Gutierrez refused to download Chivo, the digital wallet developed by El Salvador’s government for the use of bitcoin throughout the country and released on Sept. 7.
She decided to open the app on Oct. 16 after learning from fellow Salvadorans that hackers had activated wallets associated with the nine-digit numbers on their identity cards, known as DUI for its acronym in Spanish.
“This was growing more and more, reaching into my close circle,” Gutierrez, 28, told CoinDesk.
When Gutierrez entered her personal information, a screen popped up saying her document number was already associated with a wallet. Immediately, she took a screenshot, fearing that her data would be used for illicit purposes.
Gutierrez’s case is one of the hundreds that Salvadorans have reported on social media and to local advocates since September, when bitcoin was established as legal tender and Chivo started beingmassively used in the country.
Between Oct. 9 and Oct. 14, Cristosal, a human rights organization in El Salvador, received 755 notifications of Salvadorans reporting identity theft with their Chivo Wallets, Rina Montti, the group’s director of human rights research, told CoinDesk.
In the majority of those cases, the affected Salvadorans tried to activate their wallets after they learned of the large number of people reporting that their identities had been stolen.
The hackers had an incentive: Each wallet came loaded with $30 worth of bitcoin, provided by the administration of Salvadoran President Nayib Bukele to encourage citizens to use the cryptocurrency.
El Salvador’s government did not respond to a request for comment about claims of identity theft involving the wallets by press time.
With the adoption of bitcoin, Bukele positioned his Central American country at the center of a global discussion about the future of money. The process was not without itscritics, such as those made against Article 7 of the law, which stipulates that all merchants must accept bitcoin as a form of payment when customers offer it.
The president laterdeniedthat bitcoin acceptance would be mandatory. Salvadorans were baffled by the discrepancy between what the president said and what the law stated.
In August, pollsshowedthat 65% to 70% of Salvadorans opposed the adoption of bitcoin, and several protest marches took place in the streets. According to the latest officialdata provided by Bukeleat the end of September, more than 2 million people downloaded the Chivo Wallet, as part of an aggressive agenda that also included bitcoin mining withvolcanic energy.
According to Chivo’s official website, opening an account requires scanning the DUI front and back, and then performing facial recognition to check the registrant’s identity. But several Salvadorans reported evidence that the system is flawed.
When Adam Flores, a Salvadoran YouTuber who runs the channelLa Gatada SV, heard about the hacks, he remembered that his grandmother had not opened her Chivo Wallet and decided to use the case as a test. Even though he only had a photocopy of her DUI, he tried it anyway and, to his amazement, the application accepted the document as valid.
Flores followed through with the verification process, which then asked for real-time facial recognition. The YouTuber snapped a photo of a poster on his wall of Sarah Connor — a character from the “Terminator” movie series.
Seconds later, Chivo Wallet welcomed his grandmother and released the $30 incentive, according to a video Flores sent to CoinDesk as evidence.
Other casesuploadedto social media directly showed how just a random photo — in one case, of a coffee mug — was enough to replace the DUI and then fool the face recognition test.
Salvadorans do not always try to open their accounts themselves. According to Montti, of Cristosal, most of the 700 Salvadorans who reported identity theft asked acquaintances to try to transfer money through Chivo by putting their DUI numbers in the recipient field. They discovered the addresses were ready to receive transfers. In other words, the ID numbers were already registered, by someone other than the rightful owner.
Worried about impersonation, Ramón Esquivel asked an acquaintance to send money to a wallet with his DUI on Oct. 11. To his surprise, the transfer was successful, even though he had never activated his account.
“With anger, I realized that they had used my DUI,” Esquivel told CoinDesk, adding that after the episode he filed a complaint in the attorney general’s office. “I’m exposed to being used to commit acts of money laundering that would be registered under my identity, compromising my integrity,” he stated.
Other cases showed that the fraudsters diverted the money to accounts that were not even their own, but those of other hacked people.
Two weeks ago, Gabriela Sosa, a Salvadoran media host, tried to activate a Chivo Wallet with her DUI, but an error message jumped up on the screen informing her it was already registered.
As soon as it happened, she called the official support number for Chivo, 192. “I kept calling for several days until they told me I had to go to a Chivo point,” Sosa told CoinDesk. Last Saturday, she went to that help center and her account was finally recovered, but the money was not.
On her Twitter account, Sosa released details of the account to which the $30 had been directed. The owner’s name was Michael Santacruz.
Days later, co-workers and university colleagues sent screenshots of that tweet to Santacruz, who had never activated his Chivo account until then, according to private chat messages he sent to Sosa thatshe posted.
He tried, then, to open his account but a notification said his DUI had already been registered. Like Sosa, Santacruz approached a Chivo help center, and after recovering his account, he realized that it had been used to receive money from five hacked accounts, he said. (Attempts to reach Santacruz for comment were unsuccessful.)
Cristosal was not the only nongovernmental organization (NGO) to tackle the problem. Acción Ciudadana, a non-profit specializing in social auditing, filed a notice to the Attorney General’s Office (FGR) on Oct. 12 after the group’s President Humberto Sáenz and Director Eduardo Escobar found hackers had registered their Chivo Wallets.
Acción Ciudadana told CoinDesk that up to now, two weeks after the filing, there was no response from the FGR.
Laura Nathalie Hernández, a tech lawyer at the Salvadoran firm Legal Novis, has been receiving requests for help from victims of identity theft regarding their Chivo Wallets. The first recommendation she gave to the affected people was to post the incident on social media to make it public and also file a report with the attorney general’s office.
According to Hernández, the entity that manages the application should be the first place to turn to. “But we don’t have much information about who is responsible either,” she said, adding: “We don’t know who manages it, if there is a third company. There has been no transparency.”
According to Chivo’s terms and conditions, the authorization of an account is conditioned on a know-your-customer (KYC) process carried out by CHIVO S.A. de C.V., aprivate companycreated by the government to launch the wallet. This verification process “includes the provision of the information and documents required for full compliance with the process.”
The company’s accountability is unclear. According to theterms and conditions, users agree “not to disclose or divulge to third parties any information, DUIs, passwords or any code used to access the site.” But the terms also state that it “will not be liable for any loss or damage that the user may suffer as a result of unauthorized third party access to your account as a result of hacks or lost passwords.”
Chivo’s support staff did not answer CoinDesk’s questions about who is responsible for a hack where the real account owner does not provide information.
The wallet adds that the verification services will be provided by the company directly and/or through a third party contracted by the company for such purpose. But by press time, it had not answered CoinDesk’s question about what other third party provides identification services to the platform.
Sosa, the Salvadoran media host, told CoinDesk that she eventually got her money back and emphasized that her complaint is not against the application or Bukele’s government, just that she wants to raise awareness of the problem.
Gutierrez has not yet recouped her money. “I tried to contact customer service, and they did not give me an answer, nor is there an institution that is clear about the process to follow in this case,” she said.
Esquivel said he is not interested in either the $30 incentive or the government app.
“If I use bitcoin at all, it will be with a wallet in which I have custody of my money,” he said. || Identity Thieves Exploit El Salvador’s Chivo Bitcoin Wallet’s Setup Process: At first, Cynthia Gutierrez refused to download Chivo, the digital wallet developed by El Salvador’s government for the use of bitcoin throughout the country and released on Sept. 7.
She decided to open the app on Oct. 16 after learning from fellow Salvadorans that hackers had activated wallets associated with the nine-digit numbers on their identity cards, known as DUI for its acronym in Spanish.
“This was growing more and more, reaching into my close circle,” Gutierrez, 28, told CoinDesk.
When Gutierrez entered her personal information, a screen popped up saying her document number was already associated with a wallet. Immediately, she took a screenshot, fearing that her data would be used for illicit purposes.
Gutierrez’s case is one of the hundreds that Salvadorans have reported on social media and to local advocates since September, when bitcoin was established as legal tender and Chivo started beingmassively used in the country.
Between Oct. 9 and Oct. 14, Cristosal, a human rights organization in El Salvador, received 755 notifications of Salvadorans reporting identity theft with their Chivo Wallets, Rina Montti, the group’s director of human rights research, told CoinDesk.
In the majority of those cases, the affected Salvadorans tried to activate their wallets after they learned of the large number of people reporting that their identities had been stolen.
The hackers had an incentive: Each wallet came loaded with $30 worth of bitcoin, provided by the administration of Salvadoran President Nayib Bukele to encourage citizens to use the cryptocurrency.
El Salvador’s government did not respond to a request for comment about claims of identity theft involving the wallets by press time.
With the adoption of bitcoin, Bukele positioned his Central American country at the center of a global discussion about the future of money. The process was not without itscritics, such as those made against Article 7 of the law, which stipulates that all merchants must accept bitcoin as a form of payment when customers offer it.
The president laterdeniedthat bitcoin acceptance would be mandatory. Salvadorans were baffled by the discrepancy between what the president said and what the law stated.
In August, pollsshowedthat 65% to 70% of Salvadorans opposed the adoption of bitcoin, and several protest marches took place in the streets. According to the latest officialdata provided by Bukeleat the end of September, more than 2 million people downloaded the Chivo Wallet, as part of an aggressive agenda that also included bitcoin mining withvolcanic energy.
According to Chivo’s official website, opening an account requires scanning the DUI front and back, and then performing facial recognition to check the registrant’s identity. But several Salvadorans reported evidence that the system is flawed.
When Adam Flores, a Salvadoran YouTuber who runs the channelLa Gatada SV, heard about the hacks, he remembered that his grandmother had not opened her Chivo Wallet and decided to use the case as a test. Even though he only had a photocopy of her DUI, he tried it anyway and, to his amazement, the application accepted the document as valid.
Flores followed through with the verification process, which then asked for real-time facial recognition. The YouTuber snapped a photo of a poster on his wall of Sarah Connor — a character from the “Terminator” movie series.
Seconds later, Chivo Wallet welcomed his grandmother and released the $30 incentive, according to a video Flores sent to CoinDesk as evidence.
Other casesuploadedto social media directly showed how just a random photo — in one case, of a coffee mug — was enough to replace the DUI and then fool the face recognition test.
Salvadorans do not always try to open their accounts themselves. According to Montti, of Cristosal, most of the 700 Salvadorans who reported identity theft asked acquaintances to try to transfer money through Chivo by putting their DUI numbers in the recipient field. They discovered the addresses were ready to receive transfers. In other words, the ID numbers were already registered, by someone other than the rightful owner.
Worried about impersonation, Ramón Esquivel asked an acquaintance to send money to a wallet with his DUI on Oct. 11. To his surprise, the transfer was successful, even though he had never activated his account.
“With anger, I realized that they had used my DUI,” Esquivel told CoinDesk, adding that after the episode he filed a complaint in the attorney general’s office. “I’m exposed to being used to commit acts of money laundering that would be registered under my identity, compromising my integrity,” he stated.
Other cases showed that the fraudsters diverted the money to accounts that were not even their own, but those of other hacked people.
Two weeks ago, Gabriela Sosa, a Salvadoran media host, tried to activate a Chivo Wallet with her DUI, but an error message jumped up on the screen informing her it was already registered.
As soon as it happened, she called the official support number for Chivo, 192. “I kept calling for several days until they told me I had to go to a Chivo point,” Sosa told CoinDesk. Last Saturday, she went to that help center and her account was finally recovered, but the money was not.
On her Twitter account, Sosa released details of the account to which the $30 had been directed. The owner’s name was Michael Santacruz.
Days later, co-workers and university colleagues sent screenshots of that tweet to Santacruz, who had never activated his Chivo account until then, according to private chat messages he sent to Sosa thatshe posted.
He tried, then, to open his account but a notification said his DUI had already been registered. Like Sosa, Santacruz approached a Chivo help center, and after recovering his account, he realized that it had been used to receive money from five hacked accounts, he said. (Attempts to reach Santacruz for comment were unsuccessful.)
Cristosal was not the only nongovernmental organization (NGO) to tackle the problem. Acción Ciudadana, a non-profit specializing in social auditing, filed a notice to the Attorney General’s Office (FGR) on Oct. 12 after the group’s President Humberto Sáenz and Director Eduardo Escobar found hackers had registered their Chivo Wallets.
Acción Ciudadana told CoinDesk that up to now, two weeks after the filing, there was no response from the FGR.
Laura Nathalie Hernández, a tech lawyer at the Salvadoran firm Legal Novis, has been receiving requests for help from victims of identity theft regarding their Chivo Wallets. The first recommendation she gave to the affected people was to post the incident on social media to make it public and also file a report with the attorney general’s office.
According to Hernández, the entity that manages the application should be the first place to turn to. “But we don’t have much information about who is responsible either,” she said, adding: “We don’t know who manages it, if there is a third company. There has been no transparency.”
According to Chivo’s terms and conditions, the authorization of an account is conditioned on a know-your-customer (KYC) process carried out by CHIVO S.A. de C.V., aprivate companycreated by the government to launch the wallet. This verification process “includes the provision of the information and documents required for full compliance with the process.”
The company’s accountability is unclear. According to theterms and conditions, users agree “not to disclose or divulge to third parties any information, DUIs, passwords or any code used to access the site.” But the terms also state that it “will not be liable for any loss or damage that the user may suffer as a result of unauthorized third party access to your account as a result of hacks or lost passwords.”
Chivo’s support staff did not answer CoinDesk’s questions about who is responsible for a hack where the real account owner does not provide information.
The wallet adds that the verification services will be provided by the company directly and/or through a third party contracted by the company for such purpose. But by press time, it had not answered CoinDesk’s question about what other third party provides identification services to the platform.
Sosa, the Salvadoran media host, told CoinDesk that she eventually got her money back and emphasized that her complaint is not against the application or Bukele’s government, just that she wants to raise awareness of the problem.
Gutierrez has not yet recouped her money. “I tried to contact customer service, and they did not give me an answer, nor is there an institution that is clear about the process to follow in this case,” she said.
Esquivel said he is not interested in either the $30 incentive or the government app.
“If I use bitcoin at all, it will be with a wallet in which I have custody of my money,” he said.
[Social Media Buzz]
None available.
|
61004.41, 63226.40, 62970.05, 61452.23, 61125.68, 61527.48, 63326.99, 67566.83, 66971.83, 64995.23
|
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 10462.26, 10538.46, 10246.19, 10760.07, 10692.72, 10750.72, 10775.27, 10709.65, 10844.64, 10784.49, 10619.45, 10575.97, 10549.33, 10669.58, 10793.34, 10604.41, 10668.97, 10915.69, 11064.46, 11296.36, 11384.18, 11555.36, 11425.90, 11429.51, 11495.35, 11322.12, 11358.10, 11483.36, 11742.04, 11916.33, 12823.69, 12965.89, 12931.54, 13108.06, 13031.17, 13075.25, 13654.22, 13271.29, 13437.88, 13546.52, 13781.00, 13737.11, 13550.49, 13950.30, 14133.71, 15579.85, 15565.88, 14833.75, 15479.57, 15332.32, 15290.90, 15701.34, 16276.34, 16317.81, 16068.14, 15955.59, 16716.11, 17645.41, 17804.01, 17817.09, 18621.31, 18642.23, 18370.00, 18364.12, 19107.46, 18732.12, 17150.62, 17108.40, 17717.41, 18177.48, 19625.84, 18803.00, 19201.09, 19445.40, 18699.77, 19154.23, 19345.12, 19191.63, 18321.14, 18553.92, 18264.99, 18058.90, 18803.66, 19142.38, 19246.64, 19417.08, 21310.60, 22805.16, 23137.96, 23869.83.
|
[Bitcoin Technical Analysis for 2020-12-19]
Volume: 38487546580, RSI (14-day): 79.45, 50-day EMA: 17913.54, 200-day EMA: 13416.02
[Wider Market Context]
None available.
[Recent News (last 7 days)]
Extra Crunch roundup: 'Nightmare' security breach, Poshmark's IPO, crypto boom, more: The rest of theworld may be slowing down as we prepare for Christmas and the new year, but we are not taking our foot off the gas.
Alex Wilhelm keeps a close watch on the public markets in his column The Exchange, but this week, he branched out to look at some of the metrics underpinningsoaring cryptocurrency pricesandturned his gaze on StockX, the consumer reseller marketplace that just raised $275 million in a Series E that values the company at approximately $2.8 billion.
"Selling a tenth of your company for north of a quarter-billion may be somewhat common among late-stage software startups with tremendous growth," he says, but "don’t laugh — the round actually makes pretty OK sense."
Our staff continues to file their end-of-year stories: We ran a post this morning by Manish Singh that studiesIndia's massive total addressable market for retail. The nation has more than 60 million mom-and-pop neighborhood stores, and companies like Walmart and Amazon are eager to offer help with payments, logistics and inventory management — as are hundreds of native and foreign startups.
Inan interview with author and MIT professor Sinan Aral, Managing Editor Danny Crichton discussed some of the debates currently swirling around the desire in some quarters to regulate social media platforms. In "The Hype Machine," Aral explores topics like neuroscience, economics and misinformation before offering potential solutions for resolving what he calls "a full-blown social media crisis."
The stories that follow are an overview of Extra Crunch from the last five days. Complete articles are only available to members, but you canuse discount codeECFridayto save 20% off a one or two-year subscription. Detailshere.
Thank you very much for reading Extra Crunch this week; I hope you have a safe, relaxing weekend!
Walter ThompsonSenior Editor, TechCrunch@yourprotagonist
Image Credits:Nigel Sussman(opens in a new window)
How did fashion marketplace Poshmark go from posting regular losses in 2019 to generating net income in 2020?
After the company filed a public S-1 last night, Alex Wilhelm pondered the question this morningin The Exchange.
Like many e-commerce platforms, Poshmark saw a surge in activity during the COVID-19 pandemic, but it also slashed its marketing spend, which helped boost profits. As the cash-rich company prepares its road show, "Poshmark is valuable," Alex concluded.
"How valuable the market will decide. But who will it enrich with its final pricing decision?"
Unpacking Poshmark’s IPO filing
WASHINGTON, D.C. - APRIL 22, 2018: A statue of Albert Gallatin, a former U.S. Secretary of the Treasury, stands in front of The Treasury Building in Washington, D.C. The National Historic Landmark building is the headquarters of the United States Department of the Treasury. (Photo by Robert Alexander/Getty Images)
The breach of FireEye and SolarWinds by hackers working on behalf of Russian intelligence is "the nightmare scenario that has worried cybersecurity experts for years," reports Zack Whittaker.
The intrusion began several months ago, but news of the breach wasn't made public until this week.
"Given that potential victims include defense contractors, telecoms, banks, and tech companies, the implications for critical infrastructure and national security, although untold at this point, could be significant," said Erin Kenneally, director of cyber risk analytics at Guidewire, an industry platform for insurance carriers.
Inhis analysis for Extra Crunch, Zack breaks down the rippling effects of supply-chain attacks that can compromise platforms like SolarWinds, which is used by more than 420 of the Fortune 500.
Just how bad is that hack that hit US government agencies?
Image Credits:dowell(opens in a new window)/ Getty Images
Embedded finance connects services like payment processing with everyday activities like grabbing a coffee before unlocking an e-scooter.
"The ability to be at the right place at the right time, supporting consumers and merchants alike, where they want it, how they want it and when they want it — cannot be understated," says Simon Wu, an investment director with Cathay Innovation.
In a post that identifies embedded finance's top providers and enablers, he offers advice for startups and established brands that are hoping to "earn and build customer loyalty while generating new revenue streams."
From startups to Starbucks: The embedded API opportunity
Image Credits:Nigel Sussman(opens in a new window)
Bitcoin is at an all-time high.
CoinMarketCap reports that crypto market values have reached almost $659 billion; that figure was just $140 billion in March 2020.
"These gains have created a huge amount of wealth for crypto holders," Alex Wilhelm wrote yesterday.
To get a better handle on why crypto values are sky-bound, he parsed some basic industry metrics, including the number of unique bitcoin addresses, fees paid and transactions per day.
"Do the price gains make sense in the short term? Who knows," he wrote, "but they are not based on nothing."
Is rising usage driving crypto’s recent price boom?
Stage Light on Black. Image Credits: Fotograzia / Getty Images
For his year-end Extra Crunch story, security reporter Zack Whittaker looked back at the myriad security challenges and vulnerabilities COVID-19 brought to the fore.
The hacks of Fire Eyes and SolarWinds were just one link in the chain: How well is your company prepared to deal with file-encrypting malware, hackers backed by nation-states or employees accessing secure systems from home?
"With 2020 wrapping up, much of the security headaches exposed by the pandemic will linger into the new year," says Zack.
2020 was a disaster, but the pandemic put security in the spotlight
Zoox Fully Autonomous, All-electric Robotaxi. Image Credits: Zoox
After six years of research and development, autonomous vehicle company Zoox this week unveiled an electric robotaxi that can carry four people at a maximum speed of 75 miles per hour.
Automotive writer Kirsten Korosec interviewed Zoox co-founder and CTO Jesse Levinson to learn more about the vehicle's development and how the company overcame a series of technical and legal challenges.
"I would say that if you have a big idea and you’re confident that it makes sense, you should at least explore the idea, rather than giving up because the current regulations aren’t designed for it," said Levinson.
Kirsten only had 15 minutes to interview Levinson, but this comprehensive interview covers topics like regulatory compliance, Zoox's relationship with parent company Amazon and the highest (and lowest) moments he experienced along the way.
Inside Zoox’s six-year ride from prototype to product
Fairy dust flying in gold light rays. Computer-generated abstract raster illustration. Image Credits: gonin / Wikimedia Commons
In one of the largest enterprise acquisitions of 2020, Visa Equity Partners this week purchased Utah-based edtech startup Pluralsight for $3.5 billion.
According to the entrepreneurs and investors reporter Natasha Mascarenhas spoke to, this deal "shows the strength of edtech’s capital options as the pandemic continues."
"What’s happening in edtech is that capital markets are liquidating," a major change from "the old days where the options to exit were very narrow," says Deborah Quazzo, a managing partner at GSV Advisors and seed investor in Pluralsight.
Vista’s $3.5B purchase of Pluralsight signals a maturing edtech market
Image Credits:Sophie Alcorn
Dear Sophie:
I’m on an F1 OPT and am about to incorporate a startup with my two American co-founders.
What were the biggest immigration changes in 2020 affecting us?
—Ambitious in Albany
Dear Sophie: How did immigration change for startup founders in 2020?
High angle view of young man walking towards white doorways on blue background Image Credits: Klaus Vedfelt / Getty Images
Founders and the VCs who back them may not be friends, but they're usually friendly.
Investors are on a first-name basis with entrepreneurs from their portfolio companies and frequently have candid conversations with them about life, work and the world in general. In the before times, they might even have shared a meal or attended a baseball game together.
But make no mistake, it is a top-down relationship — the investor will always have the upper hand. When an entrepreneur accepts a check, they are hiring their next boss.
In an Extra Crunch guest post, Quiq CEO and founder Mike Myer poses two questions for founders who are considering a new relationship with a VC:
• How can the investor help the business?
• What’s the risk that the investor will hurt the business?
How to pick an investor in good or bad times
NEW DELHI, INDIA - 2011/12/18: Rice is sold at a night market in Paharganj, the urban suburb opposite New Delhi Railway Station. (Photo by Frank Bienewald/LightRocket via Getty Images)
In India, about 90% of consumers buy their everyday goods from neighborhood-basedkiranastores instead of supermarkets.
As a result, U.S. retail giants like Walmart and Amazon have adopted an "if you can't beat them, join them" approach, offering the nation's 60 million mom-and-pop shops software for inventory control, payments and e-commerce.
India's retail market will be worth an estimated $1.3 trillion by 2025, but e-commerce represents just 3% of that activity today, reports Manish Singh.
For his final Extra Crunch story of 2020, he looked at the startups and major players who are hoping to carve out their niche in one of the world's largest retail ecosystems.
From India’s richest man to Amazon and 100s of startups: The great rush to win neighborhood stores
Image Credits: PM Images / Getty Images
Earlier this year, business productivity software startup ClickUp raised a $35 million Series A.
Now, just six months later, the company has closed a second round of $100 million that values the San Diego-based startup at $1 billion.
Lucas Matney interviewed CEO Zeb Evans this week to learn more about how the company was buoyed by pandemic-based behavior shifts that doubled its customer base and multiplied revenue by a factor of nine.
"I think that the biggest thing that we’ve always focused on is shipping a new version of ClickUp every week. That is our differentiation," he said. "We’ve kind of created these iterative cycles called natural product-market fit and it’s been hard to keep up with that."
ClickUp CEO talks hiring, raising and scaling in the white-hot productivity space
Multi Colored Bling Bling Dollar Sign Shape Bokeh Backdrop on Dark Background, Finance Concept. Image Credits: MirageC / Getty Images.
In 2018, the total value of the year's 10 top enterprise mergers and acquisitions reached $87 billion; last year, that figure fell to just $40 billion.
But in 2020, 10 M&A deals accounted for $165.2 billion.
"Last year’s biggest deal — Salesforce buying Tableau for $15.7 billion — would have only been good for fifth place on this year’s list," notes enterprise reporter Ron Miller. "And last year’s fourth largest deal, where VMware bought Pivotal for $2.7 billion, wouldn’t have even made this year’s list at all."
2020’s top 10 enterprise M&A deals totaled a staggering $165B || Extra Crunch roundup: 'Nightmare' security breach, Poshmark's IPO, crypto boom, more: The rest of the world may be slowing down as we prepare for Christmas and the new year, but we are not taking our foot off the gas. Alex Wilhelm keeps a close watch on the public markets in his column The Exchange, but this week, he branched out to look at some of the metrics underpinning soaring cryptocurrency prices and turned his gaze on StockX , the consumer reseller marketplace that just raised $275 million in a Series E that values the company at approximately $2.8 billion. "Selling a tenth of your company for north of a quarter-billion may be somewhat common among late-stage software startups with tremendous growth," he says, but "don’t laugh — the round actually makes pretty OK sense." Our staff continues to file their end-of-year stories: We ran a post this morning by Manish Singh that studies India's massive total addressable market for retail . The nation has more than 60 million mom-and-pop neighborhood stores, and companies like Walmart and Amazon are eager to offer help with payments, logistics and inventory management — as are hundreds of native and foreign startups. In an interview with author and MIT professor Sinan Aral , Managing Editor Danny Crichton discussed some of the debates currently swirling around the desire in some quarters to regulate social media platforms. In "The Hype Machine," Aral explores topics like neuroscience, economics and misinformation before offering potential solutions for resolving what he calls "a full-blown social media crisis." The stories that follow are an overview of Extra Crunch from the last five days. Complete articles are only available to members, but you can use discount code ECFriday to save 20% off a one or two-year subscription. Details here . Thank you very much for reading Extra Crunch this week; I hope you have a safe, relaxing weekend! Walter Thompson Senior Editor, TechCrunch @yourprotagonist Unpacking Poshmark's IPO filing Image Credits: Nigel Sussman (opens in a new window) Story continues How did fashion marketplace Poshmark go from posting regular losses in 2019 to generating net income in 2020? After the company filed a public S-1 last night, Alex Wilhelm pondered the question this morning in The Exchange . Like many e-commerce platforms, Poshmark saw a surge in activity during the COVID-19 pandemic, but it also slashed its marketing spend, which helped boost profits. As the cash-rich company prepares its road show, "Poshmark is valuable," Alex concluded. "How valuable the market will decide. But who will it enrich with its final pricing decision?" Unpacking Poshmark’s IPO filing Just how bad is that hack that hit US government agencies? WASHINGTON, D.C. - APRIL 22, 2018: A statue of Albert Gallatin, a former U.S. Secretary of the Treasury, stands in front of The Treasury Building in Washington, D.C. The National Historic Landmark building is the headquarters of the United States Department of the Treasury. (Photo by Robert Alexander/Getty Images) The breach of FireEye and SolarWinds by hackers working on behalf of Russian intelligence is "the nightmare scenario that has worried cybersecurity experts for years," reports Zack Whittaker. The intrusion began several months ago, but news of the breach wasn't made public until this week. "Given that potential victims include defense contractors, telecoms, banks, and tech companies, the implications for critical infrastructure and national security, although untold at this point, could be significant," said Erin Kenneally, director of cyber risk analytics at Guidewire, an industry platform for insurance carriers. In his analysis for Extra Crunch , Zack breaks down the rippling effects of supply-chain attacks that can compromise platforms like SolarWinds, which is used by more than 420 of the Fortune 500. Just how bad is that hack that hit US government agencies? From startups to Starbucks: The embedded API opportunity contactless payment with QR code Image Credits: dowell (opens in a new window) / Getty Images Embedded finance connects services like payment processing with everyday activities like grabbing a coffee before unlocking an e-scooter. "The ability to be at the right place at the right time, supporting consumers and merchants alike, where they want it, how they want it and when they want it — cannot be understated," says Simon Wu, an investment director with Cathay Innovation. In a post that identifies embedded finance's top providers and enablers, he offers advice for startups and established brands that are hoping to "earn and build customer loyalty while generating new revenue streams." From startups to Starbucks: The embedded API opportunity Is rising usage driving crypto's recent price boom? Image Credits: Nigel Sussman (opens in a new window) Bitcoin is at an all-time high. CoinMarketCap reports that crypto market values have reached almost $659 billion; that figure was just $140 billion in March 2020. "These gains have created a huge amount of wealth for crypto holders," Alex Wilhelm wrote yesterday. To get a better handle on why crypto values are sky-bound, he parsed some basic industry metrics, including the number of unique bitcoin addresses, fees paid and transactions per day. "Do the price gains make sense in the short term? Who knows," he wrote, "but they are not based on nothing." Is rising usage driving crypto’s recent price boom? 2020 was a disaster, but the pandemic put security in the spotlight Stage Light on Black. Image Credits: Fotograzia / Getty Images For his year-end Extra Crunch story, security reporter Zack Whittaker looked back at the myriad security challenges and vulnerabilities COVID-19 brought to the fore. The hacks of Fire Eyes and SolarWinds were just one link in the chain: How well is your company prepared to deal with file-encrypting malware, hackers backed by nation-states or employees accessing secure systems from home? "With 2020 wrapping up, much of the security headaches exposed by the pandemic will linger into the new year," says Zack. 2020 was a disaster, but the pandemic put security in the spotlight Inside Zoox's six-year ride from prototype to product Zoox Fully Autonomous, All-electric Robotaxi Zoox Fully Autonomous, All-electric Robotaxi. Image Credits: Zoox After six years of research and development, autonomous vehicle company Zoox this week unveiled an electric robotaxi that can carry four people at a maximum speed of 75 miles per hour. Automotive writer Kirsten Korosec interviewed Zoox co-founder and CTO Jesse Levinson to learn more about the vehicle's development and how the company overcame a series of technical and legal challenges. "I would say that if you have a big idea and you’re confident that it makes sense, you should at least explore the idea, rather than giving up because the current regulations aren’t designed for it," said Levinson. Kirsten only had 15 minutes to interview Levinson, but this comprehensive interview covers topics like regulatory compliance, Zoox's relationship with parent company Amazon and the highest (and lowest) moments he experienced along the way. Inside Zoox’s six-year ride from prototype to product Pluralsight $3.5B deal signals a matured edtech market Fairy dust flying in gold light rays. Computer generated abstract raster illustration Fairy dust flying in gold light rays. Computer-generated abstract raster illustration. Image Credits: gonin / Wikimedia Commons In one of the largest enterprise acquisitions of 2020, Visa Equity Partners this week purchased Utah-based edtech startup Pluralsight for $3.5 billion. According to the entrepreneurs and investors reporter Natasha Mascarenhas spoke to, this deal "shows the strength of edtech’s capital options as the pandemic continues." "What’s happening in edtech is that capital markets are liquidating," a major change from "the old days where the options to exit were very narrow," says Deborah Quazzo, a managing partner at GSV Advisors and seed investor in Pluralsight. Vista’s $3.5B purchase of Pluralsight signals a maturing edtech market Dear Sophie: How did immigration change for startup founders in 2020? Image Credits: Sophie Alcorn Dear Sophie: I’m on an F1 OPT and am about to incorporate a startup with my two American co-founders. What were the biggest immigration changes in 2020 affecting us? —Ambitious in Albany Dear Sophie: How did immigration change for startup founders in 2020? How to pick an investor in good or bad times High angle view of young man walking towards white doorways on blue background High angle view of young man walking towards white doorways on blue background Image Credits: Klaus Vedfelt / Getty Images Founders and the VCs who back them may not be friends, but they're usually friendly. Investors are on a first-name basis with entrepreneurs from their portfolio companies and frequently have candid conversations with them about life, work and the world in general. In the before times, they might even have shared a meal or attended a baseball game together. But make no mistake, it is a top-down relationship — the investor will always have the upper hand. When an entrepreneur accepts a check, they are hiring their next boss. In an Extra Crunch guest post, Quiq CEO and founder Mike Myer poses two questions for founders who are considering a new relationship with a VC: How can the investor help the business? What’s the risk that the investor will hurt the business? How to pick an investor in good or bad times From India’s richest man to Amazon and 100s of startups: The great rush to win neighborhood stores https://techcrunch.com/2020/12/18/from-indias-richest-man-to-amazon-and-100s-of-startups-the-great-rush-to-win-neighborhood-stores/ NEW DELHI, INDIA - 2011/12/18: Rice is sold at a night market in Paharganj, the urban suburb opposite New Delhi Railway Station. (Photo by Frank Bienewald/LightRocket via Getty Images) In India, about 90% of consumers buy their everyday goods from neighborhood-based kirana stores instead of supermarkets. As a result, U.S. retail giants like Walmart and Amazon have adopted an "if you can't beat them, join them" approach, offering the nation's 60 million mom-and-pop shops software for inventory control, payments and e-commerce. India's retail market will be worth an estimated $1.3 trillion by 2025, but e-commerce represents just 3% of that activity today, reports Manish Singh. For his final Extra Crunch story of 2020, he looked at the startups and major players who are hoping to carve out their niche in one of the world's largest retail ecosystems. From India’s richest man to Amazon and 100s of startups: The great rush to win neighborhood stores ClickUp CEO talks hiring, raising and scaling in the white-hot productivity space Line of differently sized pink ceramic piggy banks in ascending size order on white surface, green background Image Credits: PM Images / Getty Images Earlier this year, business productivity software startup ClickUp raised a $35 million Series A. Now, just six months later, the company has closed a second round of $100 million that values the San Diego-based startup at $1 billion. Lucas Matney interviewed CEO Zeb Evans this week to learn more about how the company was buoyed by pandemic-based behavior shifts that doubled its customer base and multiplied revenue by a factor of nine. "I think that the biggest thing that we’ve always focused on is shipping a new version of ClickUp every week. That is our differentiation," he said. "We’ve kind of created these iterative cycles called natural product-market fit and it’s been hard to keep up with that." ClickUp CEO talks hiring, raising and scaling in the white-hot productivity space 2020's top 10 enterprise M&A deals totaled a staggering $165B Multi Colored Bling Bling Dollar Sign Shape Bokeh Backdrop on Dark Background, Finance Concept. Multi Colored Bling Bling Dollar Sign Shape Bokeh Backdrop on Dark Background, Finance Concept. Image Credits: MirageC / Getty Images. In 2018, the total value of the year's 10 top enterprise mergers and acquisitions reached $87 billion; last year, that figure fell to just $40 billion. But in 2020, 10 M&A deals accounted for $165.2 billion. "Last year’s biggest deal — Salesforce buying Tableau for $15.7 billion — would have only been good for fifth place on this year’s list," notes enterprise reporter Ron Miller. "And last year’s fourth largest deal, where VMware bought Pivotal for $2.7 billion, wouldn’t have even made this year’s list at all." 2020’s top 10 enterprise M&A deals totaled a staggering $165B || Heres What Happened at Crypto Lender Creds Latest Bankruptcy Hearing: Crypto lender Cred will still be in control of its business as it heads into bankruptcy. In an omnibus preliminary hearing on Friday, Judge John Dorsey of the Delaware Bankruptcy Court rejected a motion to appoint a Chapter 11 trustee to oversee Creds restructuring. The judge made the ruling with the caveat that if Cred equity holders Dan Schatt and Lu Hua attempt to fire Cred board member Grant Lyon, whos in charge of Creds restructuring, then the court will step in and appoint a trustee to oversee the bankruptcy. Dorsey also appointed an examiner, who will provide an independent investigation into Creds business. Related: Aave Launches V2 in Bid to Make Borrowing Against Volatile Assets Less Risky Theres no evidence that anybody has done anything wrong since the [bankruptcy was filed], said Paul Hastings LLP partner James Grogan, the attorney representing Cred in the case. Were not here to sprinkle holy water on what the debtors did pre-petition. Nobody thinks that this company was well-run or was a model for business schools. Cred froze withdrawals and deposits in October and declared bankruptcy in November . According to several former Cred employees, the companys Chapter 11 bankruptcy filing doesnt tell the whole story. Read more: Bad Loans, Bad Bets, Bad Blood: How Crypto Lender Cred Really Went Bankrupt The motion to appoint a Chapter 11 trustee was filed by the U.S. Department of Justice (DOJ) unit that oversees the administration of bankruptcy cases. In denying the DOJs request, Dorsey offered his thoughts on Creds mismanagement. Related: BlockFi Announces Early 2021 Launch for Bitcoin Rewards Credit Card Theres no doubt in my mind that there were shenanigans going on [before the bankruptcy case was filed], the judge said before deciding not to enlist a Chapter 11 trustee. Dorsey decided to delay a motion to allow one creditor to retrieve its crypto before the rest. The motion was filed by UpgradeYa, an investment firm that participated in Creds borrowing program. The company wants the 478.17 BTC (now worth around $11 million) it used to secure a $2 million loan from Cred (in fiat) before other creditors get their assets back. Story continues The company believes its entitled to the bitcoin now because its UpgradeYas property and not the estates. The judge may have to rule on whether the common bitcoin meme not your keys, not your crypto applies. Related Stories Heres What Happened at Crypto Lender Creds Latest Bankruptcy Hearing Heres What Happened at Crypto Lender Creds Latest Bankruptcy Hearing || Here’s What Happened at Crypto Lender Cred’s Latest Bankruptcy Hearing: Crypto lender Cred will still be in control of its business as it heads into bankruptcy.
In an omnibus preliminary hearing on Friday, Judge John Dorsey of the Delaware Bankruptcy Court rejected a motion to appoint a Chapter 11 trustee to oversee Cred’s restructuring.
The judge made the ruling with the caveat that if Cred equity holders Dan Schatt and Lu Hua attempt to fire Cred board member Grant Lyon, who’s in charge of Cred’s restructuring, then the court will step in and appoint a trustee to oversee the bankruptcy. Dorsey also appointed an examiner, who will provide an independent investigation into Cred’s business.
Related:Aave Launches V2 in Bid to Make Borrowing Against Volatile Assets Less Risky
“There’s no evidence that anybody has done anything wrong since the [bankruptcy was filed],” said Paul Hastings LLP partner James Grogan, the attorney representing Cred in the case. “We’re not here to sprinkle holy water on what the debtors did pre-petition. Nobody thinks that this company was well-run or was a model for business schools.”
Credfroze withdrawals and depositsin October anddeclared bankruptcy in November. According to several former Cred employees, the company’s Chapter 11 bankruptcy filingdoesn’t tell the whole story.
Read more:Bad Loans, Bad Bets, Bad Blood: How Crypto Lender Cred Really Went Bankrupt
The motion to appoint a Chapter 11 trustee was filed by the U.S. Department of Justice (DOJ) unit that oversees the administration of bankruptcy cases. In denying the DOJ’s request, Dorsey offered his thoughts on Cred’s mismanagement.
Related:BlockFi Announces Early 2021 Launch for Bitcoin Rewards Credit Card
“There’s no doubt in my mind that there were shenanigans going on [before the bankruptcy case was filed],” the judge said before deciding not to enlist a Chapter 11 trustee.
Dorsey decided to delay a motion to allow one creditor to retrieve its crypto before the rest. The motion was filed by UpgradeYa, an investment firm that participated in Cred’s borrowing program. The company wants the 478.17BTC(now worth around $11 million) it used to secure a $2 million loan from Cred (in fiat) before other creditors get their assets back.
The company believes it’s entitled to the bitcoin now because it’s UpgradeYa’s property and not the estate’s. The judge may have to rule on whether the common bitcoin meme “not your keys, not your crypto” applies.
• Here’s What Happened at Crypto Lender Cred’s Latest Bankruptcy Hearing
• Here’s What Happened at Crypto Lender Cred’s Latest Bankruptcy Hearing || US Floats Long-Dreaded Plan to Make Crypto Exchanges Identify Personal Wallets: U.S. cryptocurrency users hoping to transfer their holdings from an exchange to their own personal wallets may need to comply with new know-your-customer (KYC) requirements under a rule proposed by the Treasury Department Friday. Under the advanced notice of proposed rulemaking , users who want to send cryptocurrencies from centralized exchanges to a private wallet would need to provide personal information about the owner of that wallet to the exchanges, if the amount sent is greater than $10,000 in one day. The exchanges would also need to submit and store records involving such transactions with a total value over $10,000 in a given reporting period, or just maintain records for transactions over $3,000. In other words, users of centralized cryptocurrency exchanges who want to move their holdings onto their own private wallet, or to someone else’s, would have to provide detailed personal information for transactions greater than $3,000, and exchanges would be required to report either individual or groups of transactions that add up to more than $10,000 to the Financial Crimes Enforcement Network (FinCEN). Related: US Treasury Bulking Up Crypto Policy Advisers as Wallet Reg Rumors Swirl Along with another recent proposal , the move would increase the amount of work individuals and exchanges must put into transferring cryptocurrencies, as well as increase the amount of personal data exchanges must hold onto or report to the Treasury Department. This would bring crypto closer in line with the traditional banking system, perhaps giving greater comfort to institutional investors who are increasingly considering the asset class, but undermining the technology’s early promise of privacy and self-sovereignty . At a minimum, privacy would require jumping through more hoops: In a press release, the Treasury said the rule would close “ loopholes ” around virtual currency transaction reporting. Related: Blockchain Bites: Google Goes Down, Nexus CEO and US Treasury Get Hacked Story continues The general public will have until Jan. 4, 2021 to provide comments or feedback (although another part of the document says feedback can be submitted within 15 days after the rule is published in the Federal Register, the national logbook, on Dec. 23). “FinCEN assesses that there are significant national security imperatives that necessitate an efficient process for proposal and implementation of this rule,” the document read, adding: “U.S. authorities have found that malign actors are increasingly using CVC to facilitate international terrorist financing, weapons proliferation, sanctions evasion, and transnational money laundering, as well as to buy and sell controlled substances, stolen and fraudulent identification documents and access devices, counterfeit goods, malware and other computer hacking tools, firearms, and toxic chemicals.” Rumors that this rule was in the works circulated last month when Coinbase CEO Brian Armstrong tweeted that the Trump administration was preparing a rushed rule that would require exchanges to verify know-your-customer information for the recipient of a transfer to a self-hosted wallet. The move would introduce a large amount of friction for crypto users, Armstrong warned at the time. The rule would be largely in line with guidance from the Financial Action Task Force (FATF) last year that required its member nations to implement KYC rules for virtual asset service providers (VASPs), a term for crypto exchanges and other startups, as well as the so-called “travel rule.” At the time, FATF’s guidelines suggested that individual crypto wallets could be designated VASPs, saying: “In cases where the VASP is a natural person, it should be required to be licensed or registered in the jurisdiction where its place of business is located – the determination of which may include several factors for consideration by countries.” Public comment period Any time a VASP customer sends $10,000 or more in crypto to a self-hosted wallet in a single day, their VASP would be required to verify their identity, collect the identity of their counterparty, and file a report with FinCEN, under Treasury’s proposed rule. The rule would force banks and money services businesses (MSBs) to compile and verify the same information for all unhosted wallet transactions over $3,000. They would not need to file a report with FinCEN for these four-figure transfers, however. As has been rumored for weeks, the rule’s main target appears to be self-hosted wallets (FinCEN calls them unhosted wallets). These are wallets that grant their users access to the private keys, giving them full control over the funds, just like the leather wallet in your pocket or purse. Read more: How FinCEN Became a Honeypot for Sensitive Personal Data Treasury also intends to apply the reporting rules to foreign wallets tied to countries on FinCEN’s money laundering watch list. This means Myanmar (which FinCEN calls Burma), Iran and North Korea to start. FinCEN suggested that a large portion of crypto transaction activity might be suspicious, writing that “despite significant underreporting due to compliance challenges in parts of the CVC [convertible virtual currency] sector, in 2019, FinCEN received approximately $119 billion in suspicious activity reporting.” “A significant majority” of these transactions might relate to possible legal violations, the document said. Central bank digital currencies The document also references “digital assets with legal tender status (LTDA),” a term apparently referencing central bank digital currencies (CBDCs). The term first appeared around the end of October in government documents. LTDAs have legal tender status, but are not currencies, according to a footnote. They can be treated as being similar to “coins and currency of a foreign country, travelers’ checks, bearer negotiable instruments” or other financial instruments. Read more: Self-Hosted Bitcoin Wallets Become Front Line in Fight Over Crypto Regulations Another note says that at present, “only a limited number of transactions occur involving LTDA,” though several countries are developing LTDA systems. LTDAs are referenced as being distinct from CVCs in the advanced notice. Widespread pushback Marta Belcher, a civil liberties and technology attorney, told CoinDesk that in her view, “one of the most important things about cryptocurrency is that it imports the civil liberties benefits of cash into the digital sphere by allowing for anonymous transactions.” The ANPR is part of a trend where the U.S. government seeks to implement traditional banking system surveillance tools in the crypto space, said Belcher, who is also special counsel at the Electronic Frontier Foundation. “There are photos from the Hong Kong protests of long lines at the subway stations as protestors waited to purchase tickets with cash so that their electronic purchases would not place them at the scene of the protest,” she said. “These photos underscore that a cashless society is a surveillance society; that is why the ability to import the anonymity of cash to the digital world is so important for civil liberties.” The rule received pushback from the crypto community well before details were officially announced. Armstrong criticized the rule, saying he believed there may be unintended consequences. Part of the concern stems around the rapid pace at which Mnuchin – and agencies that report to Treasury – are implementing new rules. FinCEN, a bureau of the Treasury, moved to lower the threshold for applying the travel rule to international money transfers, including cryptocurrencies. While that rule change proposal did see a public comment period, it was shorter than typical by at least 30 days. Kristin Smith, executive director of the Blockchain Association, said in a statement, “Undercutting that ability with last-minute rulemaking in the twilight days of an outgoing administration is not the way to make the type of long-lasting, responsive regulations that will support the safe growth of this industry in the U.S. Whether regulators acknowledge it or not, crypto is here to stay and should be considered a pro-growth part of the national economy, not something to be brushed aside quietly at the midnight hour.” Read more: Industry Pros Weigh In on Rumors of New Crypto Wallet Regulations Peter Van Valkenburgh, research director at Coin Center, likewise called Friday’s proposal “rushed,” saying some of the recordkeeping requirements might be “infeasible in the context of cryptocurrency transactions.” FinCEN does not appear to be bothered by these fears. In fact, the agency asserts it has no legal requirement to hold a comment period of any length but is giving the public a shot anyhow. Delaying implementation could spur individuals to move their funds fast, FinCEN warned. The moves increase the amount of work individuals and exchanges must put into transferring cryptocurrencies, as well as increase the amount of personal data exchanges must hold onto or report to the Treasury Department. Republican lawmakers even decried the move , with a public letter signed by U.S. Representatives Warren Davidson (Ohio), Tom Emmer (Minn.), Ted Budd (N.C.) and Scott Perry (Penn.) asking Mnuchin to discuss the move with elected officials. Earlier on Friday, Senator-elect Cynthia Lummis (R-Wyo.) said she was concerned by the move. Other industry representatives criticizing the move include Circle CEO Jeremy Allaire, who wrote an open letter to Treasury Department staff saying the proposed rule “would inadequately address the actual risks that are at issue,” and harm the industry overall. International restrictions The U.S. follows a number of other nations in implementing stricter identity verification rules around crypto wallets. France, the Netherlands and Switzerland have all created their own form of stringent wallet rules this year. De Nederlandsche Bank, the Netherlands’ central bank, apparently began requiring exchanges to ask its customers what they intend to use their cryptocurrencies for as well as verify that they were the owner of the wallets they were trying to transfer funds to. Similarly, Switzerland has required exchanges to “prove ownership of non-custodial wallets” since the start of the year . Read more: FinCEN Encourages Banks to Share Customer Information With Each Other Prior to the U.S., France was the latest country to force such identification requirements on crypto exchanges, barring anonymous accounts and hinting at further digital ID rules. Unlike the other countries, however, French Finance Minister Bruno Le Maire cited concerns around crypto being a potential source of terrorism funding rather than FATF in the rules’ rollout. Van Valkenburgh noted that the U.S. proposal differs from the overseas variants, writing, “We are, nonetheless, gratified that the U.S. has not chosen to repeat the mistakes made overseas, and, instead, policymakers have proposed an extension of rules that already apply to traditional financial institutions dealing in cash.” UPDATE (Dec. 18, 2020, 23:10 UTC): Updated with additional context and information. Related Stories US Floats Long-Dreaded Plan to Make Crypto Exchanges Identify Personal Wallets US Floats Long-Dreaded Plan to Make Crypto Exchanges Identify Personal Wallets || US Floats Long-Dreaded Plan to Make Crypto Exchanges Identify Personal Wallets: U.S. cryptocurrency users hoping to transfer their holdings from an exchange to their own personal wallets may need to comply with new know-your-customer (KYC) requirements under a rule proposed by the Treasury Department Friday.
Under theadvanced notice of proposed rulemaking, users who want to send cryptocurrencies from centralized exchanges to a private wallet would need to provide personal information about the owner of that wallet to the exchanges, if the amount sent is greater than $10,000 in one day. The exchanges would also need to submit and store records involving such transactions with a total value over $10,000 in a given reporting period, or just maintain records for transactions over $3,000.
In other words, users of centralized cryptocurrency exchanges who want to move their holdings onto their own private wallet, or to someone else’s, would have to provide detailed personal information for transactions greater than $3,000, and exchanges would be required to report either individual or groups of transactions that add up to more than $10,000 to the Financial Crimes Enforcement Network (FinCEN).
Related:US Treasury Bulking Up Crypto Policy Advisers as Wallet Reg Rumors Swirl
Along with anotherrecent proposal, the move would increase the amount of work individuals and exchanges must put into transferring cryptocurrencies, as well as increase the amount of personal data exchanges must hold onto or report to the Treasury Department.
This would bring crypto closer in line with the traditional banking system, perhaps giving greater comfort toinstitutional investorswho areincreasingly consideringthe asset class, but undermining the technology’searly promiseofprivacyandself-sovereignty.
At a minimum, privacy would require jumping through more hoops:
In a press release, the Treasury said the rule would close “loopholes” around virtual currency transaction reporting.
Related:Blockchain Bites: Google Goes Down, Nexus CEO and US Treasury Get Hacked
The general public will have until Jan. 4, 2021 to provide comments or feedback (although another part of the document says feedback can be submitted within 15 days after the rule is published in the Federal Register, the national logbook, on Dec. 23).
“FinCEN assesses that there are significant national security imperatives that necessitate an efficient process for proposal and implementation of this rule,” the document read, adding:
“U.S. authorities have found that malign actors are increasingly using CVC to facilitate international terrorist financing, weapons proliferation, sanctions evasion, and transnational money laundering, as well as to buy and sell controlled substances, stolen and fraudulent identification documents and access devices, counterfeit goods, malware and other computer hacking tools, firearms, and toxic chemicals.”
Rumors that this rule was in the works circulated last month when Coinbase CEO Brian Armstrong tweeted that the Trump administration was preparinga rushed rulethat would require exchanges to verify know-your-customer information for the recipient of a transfer to a self-hosted wallet.
The move would introduce a large amount of friction for crypto users, Armstrong warned at the time.
The rule would be largelyin line with guidancefrom the Financial Action Task Force (FATF) last year that required its member nations to implement KYC rules for virtual asset service providers (VASPs), a term for crypto exchanges and other startups, as well as the so-called “travel rule.”
At the time, FATF’s guidelines suggested that individual crypto wallets could be designated VASPs, saying:
“In cases where the VASP is a natural person, it should be required to be licensed or registered in the jurisdiction where its place of business is located – the determination of which may include several factors for consideration by countries.”
Any time a VASP customer sends $10,000 or more in crypto to a self-hosted wallet in a single day, their VASP would be required to verify their identity, collect the identity of their counterparty, and file a report with FinCEN, under Treasury’s proposed rule.
The rule would force banks and money services businesses (MSBs) to compile and verify the same information for all unhosted wallet transactions over $3,000. They would not need to file a report with FinCEN for these four-figure transfers, however.
As has been rumored for weeks, the rule’s main target appears to be self-hosted wallets (FinCEN calls them unhosted wallets). These are wallets that grant their users access to the private keys, giving them full control over the funds, just like the leather wallet in your pocket or purse.
Read more:How FinCEN Became a Honeypot for Sensitive Personal Data
Treasury also intends to apply the reporting rules to foreign wallets tied to countries on FinCEN’s money laundering watch list. This means Myanmar (which FinCEN calls Burma), Iran and North Korea to start.
FinCEN suggested that a large portion of crypto transaction activity might be suspicious, writing that “despite significant underreporting due to compliance challenges in parts of the CVC [convertible virtual currency] sector, in 2019, FinCEN received approximately $119 billion in suspicious activity reporting.”
“A significant majority” of these transactions might relate to possible legal violations, the document said.
The document also references “digital assets with legal tender status (LTDA),” a term apparently referencing central bank digital currencies (CBDCs). The term first appeared around the end of October in government documents.
LTDAs have legal tender status, but are not currencies, according to a footnote. They can be treated as being similar to “coins and currency of a foreign country, travelers’ checks, bearer negotiable instruments” or other financial instruments.
Read more:Self-Hosted Bitcoin Wallets Become Front Line in Fight Over Crypto Regulations
Another note says that at present, “only a limited number of transactions occur involving LTDA,” though several countries are developing LTDA systems.
LTDAs are referenced as being distinct from CVCs in the advanced notice.
Marta Belcher, a civil liberties and technology attorney, told CoinDesk that in her view, “one of the most important things about cryptocurrency is that it imports the civil liberties benefits of cash into the digital sphere by allowing for anonymous transactions.”
The ANPR is part of a trend where the U.S. government seeks to implement traditional banking system surveillance tools in the crypto space, said Belcher, who is also special counsel at the Electronic Frontier Foundation.
“There are photos from the Hong Kong protests of long lines at the subway stations as protestors waited to purchase tickets with cash so that their electronic purchases would not place them at the scene of the protest,” she said. “These photos underscore that a cashless society is a surveillance society; that is why the ability to import the anonymity of cash to the digital world is so important for civil liberties.”
The rule received pushback from the crypto community well before details were officially announced. Armstrong criticized the rule, saying he believed there may be unintended consequences.
Part of the concern stems around the rapid pace at which Mnuchin – and agencies that report to Treasury – are implementing new rules. FinCEN, a bureau of the Treasury, moved tolower the thresholdfor applying the travel rule to international money transfers, including cryptocurrencies. While that rule change proposal did see a public comment period, it wasshorter than typicalby at least 30 days.
Kristin Smith, executive director of the Blockchain Association, said in a statement, “Undercutting that ability with last-minute rulemaking in the twilight days of an outgoing administration is not the way to make the type of long-lasting, responsive regulations that will support the safe growth of this industry in the U.S. Whether regulators acknowledge it or not, crypto is here to stay and should be considered a pro-growth part of the national economy, not something to be brushed aside quietly at the midnight hour.”
Read more:Industry Pros Weigh In on Rumors of New Crypto Wallet Regulations
Peter Van Valkenburgh, research director at Coin Center, likewise called Friday’s proposal “rushed,” saying some of the recordkeeping requirements might be “infeasible in the context of cryptocurrency transactions.”
FinCEN does not appear to be bothered by these fears. In fact, the agency asserts it has no legal requirement to hold a comment period of any length but is giving the public a shot anyhow. Delaying implementation could spur individuals to move their funds fast, FinCEN warned.
The moves increase the amount of work individuals and exchanges must put into transferring cryptocurrencies, as well as increase the amount of personal data exchanges must hold onto or report to the Treasury Department.
Republican lawmakerseven decried the move, with a public letter signed by U.S. Representatives Warren Davidson (Ohio), Tom Emmer (Minn.), Ted Budd (N.C.) and Scott Perry (Penn.) asking Mnuchin to discuss the move with elected officials. Earlier on Friday, Senator-elect Cynthia Lummis (R-Wyo.) said she was concerned by the move.
Other industry representatives criticizing the move include Circle CEO Jeremy Allaire, whowrote an open letterto Treasury Department staff saying the proposed rule “would inadequately address the actual risks that are at issue,” and harm the industry overall.
The U.S. follows a number of other nations in implementing stricter identity verification rules around crypto wallets. France, the Netherlands and Switzerland have all created their own form of stringent wallet rules this year.
De Nederlandsche Bank, the Netherlands’ central bank, apparentlybegan requiring exchangesto ask its customers what they intend to use their cryptocurrencies for as well as verify that they were the owner of the wallets they were trying to transfer funds to.
Similarly, Switzerland has required exchanges to “prove ownership of non-custodial wallets” sincethe start of the year.
Read more:FinCEN Encourages Banks to Share Customer Information With Each Other
Prior to the U.S., France was the latest countryto force such identification requirementson crypto exchanges, barring anonymous accounts and hinting at further digital ID rules.
Unlike the other countries, however, French Finance Minister Bruno Le Maire cited concerns around crypto being a potential source of terrorism funding rather than FATF in the rules’ rollout.
Van Valkenburgh noted that the U.S. proposal differs from the overseas variants, writing, “We are, nonetheless, gratified that the U.S. has not chosen to repeat the mistakes made overseas, and, instead, policymakers have proposed an extension of rules that already apply to traditional financial institutions dealing in cash.”
UPDATE (Dec. 18, 2020, 23:10 UTC):Updated with additional context and information.
• US Floats Long-Dreaded Plan to Make Crypto Exchanges Identify Personal Wallets
• US Floats Long-Dreaded Plan to Make Crypto Exchanges Identify Personal Wallets || Market Wrap: Bitcoin Sits at $22.8K While $10B Locked in Top 5 DeFi Protocols: Bitcoin’s price has hung around $22,400-$22,800 after Thursday’s momentous spot volume day while brand-name DeFi protocols have the lion’s share of the market for locked crypto. Bitcoin (BTC) trading around $22,783 as of 21:00 UTC (4 p.m. ET). Gaining 0.68% over the previous 24 hours. Bitcoin’s 24-hour range: $22,357-$23,261 (CoinDesk 20) BTC above its 10-hour and 50-hour moving average on the hourly chart, a bullish signal for market technicians. Bitcoin’s price steadied Friday, ranging around $22,400-$22,800 for most of the past 24 hours and was at $22,783 as of press time. “Bitcoin continued its ascent, supply has decreased, bears are not particularly resisting and institutions are buying all the coins very quickly,” said Constantin Kogan, partner at investment firm Wave Financial. Related: Square's Cash App Now Lets Customers Get Bitcoin Back on Purchases Read More: Ruffer Investment Used Coinbase to Execute $745M Bitcoin Buy “The $24,000 mark is not far off,” Kogan added. “There is a growing perception among analysts that the demand of institutional investors can overwhelm the supply of whales [large crypto holders] and miners, whose sales in the past have had a tangible impact on the market.” Thursday was the highest-volume day in 2020 for the eight exchanges tracked by the CoinDesk 20, with over $4.7 billion in volume. That day Coinbase led the way with $1.6 billion in volume, significant given Friday’s volume tally for the eight exchanges as of press time was only $1.7 billion. The huge price jump has cleared many sell orders on exchanges as they were filled on the run-up, said Andrew Tu, an executive at quant firm Efficient Frontier. “On exchanges, sell-side liquidity is much thinner than buy-side liquidity because we are in uncharted territory,” Tu told CoinDesk. “The lack of liquidity on the sell side means that bitcoin’s price can rise faster, as we’ve seen since it broke the $20,000 figure.” Story continues Related: Tiny Capital's Wilkinson Shows Interest in Bitcoin However, inevitable exhaustion seems to have taken place Friday. “While there are some early signs of fatigue and profit-taking, what’s notable is the record volumes,” said Jason Lau, chief operating officer of San Francisco-based exchange OKCoin. In the derivatives market, open interest and volume have surged on futures venue CME, well-known as an institutional tool for hedging out traditional commodities as well as bitcoin. “Dec. 17 is registering as the highest volume day on CME, with open interest climbing at its highest,” noted Vishal Shah, an options trader and founder of derivatives exchange Alpha5. Read More: Deribit’s New Options Allow Bitcoin Traders to Bet on Rally to $100K Excitement abounds to cap off a wild ride for bitcoin in 2020, though momentum may subside in the holiday weeks ahead, according to analysts. “I’m feeling very bullish although there is only so fast we can go up before we see a correction,” said Michael Gord, chief executive officer of quant trading firm Global Digital Assets. “It will be exciting to see what happens now that we are in price discovery mode and the mainstream media is starting to take notice once again.” Just five protocols have $10 billion locked in DeFi The second-largest cryptocurrency by market capitalization, ether (ETH) was up Friday, trading around $648 and climbing 1.2% in 24 hours as of 21:00 UTC (4:00 p.m. ET). Five brand-name protocols – stablecoin Maker, wrapped bitcoin (WBTC), lenders Compound and Aave along with decentralized exchange Uniswap – make up $10.5 billion of decentralized finance’s (DeFi) $16 billion total locked, according to DeFi Pulse. George Clayton, managing partner of investment firm Cryptanalysis Capital, says the growth in DeFi value locked is highly correlated with the rise in crypto prices in general. “The increase in total value locked (TVL) is from the appreciation of crypto versus [the U.S. dollar]. Deposits are hanging around, not increasing,” Clayton told CoinDesk. However, he’s bullish on DeFi, particularly if some scaling growth pains can be resolved. “I expect these numbers to grow, especially if ETH 1.5 can scale, or if these DeFi platforms can port to the likes of Cardano or AVAX or Solana.” Other markets Digital assets on the CoinDesk 20 are mixed Friday, mostly red. Notable winners as of 21:00 UTC (4:00 p.m. ET): algorand (ALGO) + 6.5% litecoin (LTC) + 4.8% 0x (ZRX) + 2.4% Notable losers: xrp (XRP) – 5% stellar (XLM) – 4.3% omg network (OMG) – 1.5% Equities: Asia’s Nikkei 225 closed slipping 0.16% as concern over coronavirus cases in Tokyo affecting Japan’s economy led investors to sell more than buy . The FTSE 100 in Europe ended the day in the red 0.33% as pessimism mounts that a Brexit-related trade deal might fall through . The S&P 500 in the United States fell 0.34% as lawmakers in Washington struggle through negotiations on a coronavirus stimulus package . Read More: Coinbase Picks Goldman Sachs to Lead Upcoming IPO: Report Commodities: Oil was up 1.2%. Price per barrel of West Texas Intermediate crude: $48.98. Gold was in the red 0.23% and at $1,880 as of press time. Treasurys: The 10-year U.S. Treasury bond yield climbed Friday jumping to 0.945 and in the green 0.71%. Related Stories Market Wrap: Bitcoin Sits at $22.8K While $10B Locked in Top 5 DeFi Protocols Market Wrap: Bitcoin Sits at $22.8K While $10B Locked in Top 5 DeFi Protocols || Market Wrap: Bitcoin Sits at $22.8K While $10B Locked in Top 5 DeFi Protocols: Bitcoin’s price has hung around $22,400-$22,800 after Thursday’s momentous spot volume day while brand-name DeFi protocols have the lion’s share of the market for locked crypto.
• Bitcoin(BTC) trading around $22,783 as of 21:00 UTC (4 p.m. ET). Gaining 0.68% over the previous 24 hours.
• Bitcoin’s 24-hour range: $22,357-$23,261 (CoinDesk 20)
• BTC above its 10-hour and 50-hour moving average on the hourly chart, a bullish signal for market technicians.
Bitcoin’s price steadied Friday, ranging around $22,400-$22,800 for most of the past 24 hours and was at $22,783 as of press time.
“Bitcoin continued its ascent, supply has decreased, bears are not particularly resisting and institutions are buying all the coins very quickly,” said Constantin Kogan, partner at investment firm Wave Financial.
Related:Square's Cash App Now Lets Customers Get Bitcoin Back on Purchases
Read More:Ruffer Investment Used Coinbase to Execute $745M Bitcoin Buy
“The $24,000 mark is not far off,” Kogan added. “There is a growing perception among analysts that the demand of institutional investors can overwhelm the supply of whales [large crypto holders] and miners, whose sales in the past have had a tangible impact on the market.”
Thursday was the highest-volume day in 2020 for the eight exchanges tracked by the CoinDesk 20, with over $4.7 billion in volume. That day Coinbase led the way with $1.6 billion in volume, significant given Friday’s volume tally for the eight exchanges as of press time was only $1.7 billion.
The huge price jump has cleared many sell orders on exchanges as they were filled on the run-up, said Andrew Tu, an executive at quant firm Efficient Frontier. “On exchanges, sell-side liquidity is much thinner than buy-side liquidity because we are in uncharted territory,” Tu told CoinDesk. “The lack of liquidity on the sell side means that bitcoin’s price can rise faster, as we’ve seen since it broke the $20,000 figure.”
Related:Tiny Capital's Wilkinson Shows Interest in Bitcoin
However, inevitable exhaustion seems to have taken place Friday. “While there are some early signs of fatigue and profit-taking, what’s notable is the record volumes,” said Jason Lau, chief operating officer of San Francisco-based exchange OKCoin.
In the derivatives market, open interest and volume have surged on futures venue CME, well-known as an institutional tool for hedging out traditional commodities as well as bitcoin.
“Dec. 17 is registering as the highest volume day on CME, with open interest climbing at its highest,” noted Vishal Shah, an options trader and founder of derivatives exchange Alpha5.
Read More:Deribit’s New Options Allow Bitcoin Traders to Bet on Rally to $100K
Excitement abounds to cap off a wild ride for bitcoin in 2020, though momentum may subside in the holiday weeks ahead, according to analysts.
“I’m feeling very bullish although there is only so fast we can go up before we see a correction,” said Michael Gord, chief executive officer of quant trading firm Global Digital Assets. “It will be exciting to see what happens now that we are in price discovery mode and the mainstream media is starting to take notice once again.”
The second-largest cryptocurrency by market capitalization,ether(ETH) was up Friday, trading around $648 and climbing 1.2% in 24 hours as of 21:00 UTC (4:00 p.m. ET).
Five brand-name protocols – stablecoin Maker, wrapped bitcoin (WBTC), lenders Compound and Aave along with decentralized exchange Uniswap – make up $10.5 billion of decentralized finance’s (DeFi) $16 billion total locked, according to DeFi Pulse.
George Clayton, managing partner of investment firm Cryptanalysis Capital, saysthe growth in DeFi value lockedis highly correlated with the rise in crypto prices in general.
“The increase in total value locked (TVL) is from the appreciation of crypto versus [the U.S. dollar]. Deposits are hanging around, not increasing,” Clayton told CoinDesk. However, he’s bullish on DeFi, particularly if some scaling growth pains can be resolved. “I expect these numbers to grow, especially if ETH 1.5 can scale, or if these DeFi platforms can port to the likes of Cardano or AVAX or Solana.”
Digital assets on theCoinDesk 20are mixed Friday, mostly red. Notable winners as of 21:00 UTC (4:00 p.m. ET):
• algorand(ALGO) + 6.5%
• litecoin(LTC) + 4.8%
• 0x(ZRX) + 2.4%
Notable losers:
• xrp(XRP) – 5%
• stellar(XLM) – 4.3%
• omg network(OMG) – 1.5%
Equities:
• Asia’s Nikkei 225 closed slipping 0.16% asconcern over coronavirus cases in Tokyo affecting Japan’s economy led investors to sell more than buy.
• The FTSE 100 in Europe ended the day in the red 0.33% aspessimism mounts that a Brexit-related trade deal might fall through.
• The S&P 500 in the United States fell 0.34% aslawmakers in Washington struggle through negotiations on a coronavirus stimulus package.
Read More:Coinbase Picks Goldman Sachs to Lead Upcoming IPO: Report
Commodities:
• Oil was up 1.2%. Price per barrel of West Texas Intermediate crude: $48.98.
• Gold was in the red 0.23% and at $1,880 as of press time.
Treasurys:
• The 10-year U.S. Treasury bond yield climbed Friday jumping to 0.945 and in the green 0.71%.
• Market Wrap: Bitcoin Sits at $22.8K While $10B Locked in Top 5 DeFi Protocols
• Market Wrap: Bitcoin Sits at $22.8K While $10B Locked in Top 5 DeFi Protocols || Market Wrap: Bitcoin Sits at $22.8K While $10B Locked in Top 5 DeFi Protocols: Bitcoin’s price has hung around $22,400-$22,800 after Thursday’s momentous spot volume day while brand-name DeFi protocols have the lion’s share of the market for locked crypto.
• Bitcoin(BTC) trading around $22,783 as of 21:00 UTC (4 p.m. ET). Gaining 0.68% over the previous 24 hours.
• Bitcoin’s 24-hour range: $22,357-$23,261 (CoinDesk 20)
• BTC above its 10-hour and 50-hour moving average on the hourly chart, a bullish signal for market technicians.
Bitcoin’s price steadied Friday, ranging around $22,400-$22,800 for most of the past 24 hours and was at $22,783 as of press time.
“Bitcoin continued its ascent, supply has decreased, bears are not particularly resisting and institutions are buying all the coins very quickly,” said Constantin Kogan, partner at investment firm Wave Financial.
Related:Square's Cash App Now Lets Customers Get Bitcoin Back on Purchases
Read More:Ruffer Investment Used Coinbase to Execute $745M Bitcoin Buy
“The $24,000 mark is not far off,” Kogan added. “There is a growing perception among analysts that the demand of institutional investors can overwhelm the supply of whales [large crypto holders] and miners, whose sales in the past have had a tangible impact on the market.”
Thursday was the highest-volume day in 2020 for the eight exchanges tracked by the CoinDesk 20, with over $4.7 billion in volume. That day Coinbase led the way with $1.6 billion in volume, significant given Friday’s volume tally for the eight exchanges as of press time was only $1.7 billion.
The huge price jump has cleared many sell orders on exchanges as they were filled on the run-up, said Andrew Tu, an executive at quant firm Efficient Frontier. “On exchanges, sell-side liquidity is much thinner than buy-side liquidity because we are in uncharted territory,” Tu told CoinDesk. “The lack of liquidity on the sell side means that bitcoin’s price can rise faster, as we’ve seen since it broke the $20,000 figure.”
Related:Tiny Capital's Wilkinson Shows Interest in Bitcoin
However, inevitable exhaustion seems to have taken place Friday. “While there are some early signs of fatigue and profit-taking, what’s notable is the record volumes,” said Jason Lau, chief operating officer of San Francisco-based exchange OKCoin.
In the derivatives market, open interest and volume have surged on futures venue CME, well-known as an institutional tool for hedging out traditional commodities as well as bitcoin.
“Dec. 17 is registering as the highest volume day on CME, with open interest climbing at its highest,” noted Vishal Shah, an options trader and founder of derivatives exchange Alpha5.
Read More:Deribit’s New Options Allow Bitcoin Traders to Bet on Rally to $100K
Excitement abounds to cap off a wild ride for bitcoin in 2020, though momentum may subside in the holiday weeks ahead, according to analysts.
“I’m feeling very bullish although there is only so fast we can go up before we see a correction,” said Michael Gord, chief executive officer of quant trading firm Global Digital Assets. “It will be exciting to see what happens now that we are in price discovery mode and the mainstream media is starting to take notice once again.”
The second-largest cryptocurrency by market capitalization,ether(ETH) was up Friday, trading around $648 and climbing 1.2% in 24 hours as of 21:00 UTC (4:00 p.m. ET).
Five brand-name protocols – stablecoin Maker, wrapped bitcoin (WBTC), lenders Compound and Aave along with decentralized exchange Uniswap – make up $10.5 billion of decentralized finance’s (DeFi) $16 billion total locked, according to DeFi Pulse.
George Clayton, managing partner of investment firm Cryptanalysis Capital, saysthe growth in DeFi value lockedis highly correlated with the rise in crypto prices in general.
“The increase in total value locked (TVL) is from the appreciation of crypto versus [the U.S. dollar]. Deposits are hanging around, not increasing,” Clayton told CoinDesk. However, he’s bullish on DeFi, particularly if some scaling growth pains can be resolved. “I expect these numbers to grow, especially if ETH 1.5 can scale, or if these DeFi platforms can port to the likes of Cardano or AVAX or Solana.”
Digital assets on theCoinDesk 20are mixed Friday, mostly red. Notable winners as of 21:00 UTC (4:00 p.m. ET):
• algorand(ALGO) + 6.5%
• litecoin(LTC) + 4.8%
• 0x(ZRX) + 2.4%
Notable losers:
• xrp(XRP) – 5%
• stellar(XLM) – 4.3%
• omg network(OMG) – 1.5%
Equities:
• Asia’s Nikkei 225 closed slipping 0.16% asconcern over coronavirus cases in Tokyo affecting Japan’s economy led investors to sell more than buy.
• The FTSE 100 in Europe ended the day in the red 0.33% aspessimism mounts that a Brexit-related trade deal might fall through.
• The S&P 500 in the United States fell 0.34% aslawmakers in Washington struggle through negotiations on a coronavirus stimulus package.
Read More:Coinbase Picks Goldman Sachs to Lead Upcoming IPO: Report
Commodities:
• Oil was up 1.2%. Price per barrel of West Texas Intermediate crude: $48.98.
• Gold was in the red 0.23% and at $1,880 as of press time.
Treasurys:
• The 10-year U.S. Treasury bond yield climbed Friday jumping to 0.945 and in the green 0.71%.
• Market Wrap: Bitcoin Sits at $22.8K While $10B Locked in Top 5 DeFi Protocols
• Market Wrap: Bitcoin Sits at $22.8K While $10B Locked in Top 5 DeFi Protocols || 10 Best Stocks To Buy For 2021 According to Billionaire Stan Druckenmiller: In this article, we presented the 10 best stocks to buy for 2021 according to billionaire Stan Druckenmiller. Click to skip ahead and see the 5 Best Stocks To Buy for 2021 . Billionaire investor Stanley Druckenmiller is one of the all-time great investors. Druckenmiller and his colleague George Soros worked together for years and established a history of generating huge gains from macroeconomic trends. The two legendary investors have famously bet against the British pound in 1992 that resulted in massive profits. While the billionaire Druckenmiller has closed Duquesne Capital in 2010 and currently runs a family office to manage his fortune, his stock pickss and market analysis are worth considering. You may not remember but back in 2015 when David Einhorn was still an influential hedge fund manager and shorting Amazon, Druckenmiller talked positively about Amazon in an investment conference. You now know which hedge fund manager had a better eyesight. Also around the same time Warren Buffett was loading up on IBM shares. This time Druckenmiller was bearish on IBM ( read this article to refresh your memory) and he was proven right one more time. That's why when Stan Druckenmiller takes a position, we pay attention. The billionaire investor has recently claimed it’s not wise to short the markets, even though the focus is shifted towards value from growth stocks amid coronavirus vaccine discovery. He believes hundreds of companies are likely to benefit from coronavirus vaccine discovery. “You’ve had a bunch of equities benefiting greatly from work from home,” Druckenmiller said. “A lot of money has rotated into them. They are overvalued.” “But then you’ve got a whole other sector of the market that has struggled mightily because of Covid,” he said. “They’re selling at under-value relative to, say, a three-to-five-year outlook. So the rotation into that would seem entirely rational.” best stocks to buy for 2021 Stanley Druckenmiller of Duquesne Capital Story continues Although he is popular for using a macroeconomics-driven investment style, his portfolio movements show a mix of long and short exposures. The third quarter portfolio stakes show that the billionaire investor is bullish on stock markets, with a focus on both value and growth stocks. Duquesne Family Office portfolio includes 61 stocks valued at $3.4 billion, according to the latest 13F filing. Stanley Druckenmiller has initiated new positions in 16 stocks and added to 18 existing stakes. The firm has also sold out stakes in 27 stocks and reduced positions in 14 stocks. The billionaire investor also looks bullish over the future fundamentals of gold and Bitcoin as he thinks Federal Reserve’s low-interest-rate policies along with stimulus measures would increase inflation in the years ahead. He suggests investors put money in gold and bitcoin as a way of hedging against the fall in the US dollar value. Billionaire U.S. investor Stanley Druckenmiller recently said he owns bitcoin and he expects bitcoin to outperform in the days ahead. "Bitcoin has a lot of attraction as a store of value to both millennials and the new West Coast money and, as you know, they have a lot of it," Druckenmiller said. The Wall Street legend believes Bitcoin is stabilizing with every passing day since it launched in 2008. While Stanley Druckenmiller's reputation remains intact, the same can’t be said of the hedge fund industry as a whole, as its reputation has been tarnished in the last decade during which its hedged returns couldn’t keep up with the unhedged returns of the market indices. On the other hand, Insider Monkey’s research was able to identify in advance a select group of hedge fund holdings that outperformed the S&P 500 ETFs by more than 78 percentage points since March 2017 ( see the details here ). We were also able to identify in advance a select group of hedge fund holdings that significantly underperformed the market. We have been tracking and sharing the list of these stocks since February 2017 and they lost 13% through November 16. That’s why we believe hedge fund sentiment is an extremely useful indicator that investors should pay attention to. You can subscribe to our free newsletter on our homepage to receive our stories in your inbox. Let’s start examining the 10 best stocks to buy for 2021 according to billionaire Stan Druckenmiller. 10. JD.com (NASDAQ: JD ) The Chinese e-commerce company JD.com (NASDAQ: JD) is the tenth-largest stock holding of the legendary Stanley Druckenmiller family office portfolio, accounting for 3.43% of the overall portfolio. The billionaire investor is seeking to generate returns from one of the top-performing growth stocks as pandemic has significantly shifted consumer's focus towards online platforms. Indeed, the billionaire investor who recently stated that markets will extend gains despite higher valuations has added to its existing JD position in the latest quarter. The family office currently holds 1.5 million shares of the Chinese e-commerce company valued at $118 million. Druckenmiller's protfolio has benefited substantially from its position in JD.com since the second quarter of 2019 as shares of the Chinese online platform soared 135% in the last twelve months alone. Its September quarter revenue jumped 29% year over a year while annual active customer accounts surged 32% to 441.6 million in the trailing twelve months. Third Point talked about both JD and Alibaba (BABA) in its Q2 investor letter : “During the quarter, we took advantage of jitters about China’s relationships with Hong Kong and the U.S. that created an air pocket in trading of Chinese‐related shares to establish new positions in e‐commerce leaders Alibaba and JD.com. As we have articulated in prior letters3, our outlook for Alibaba and the broader Chinese e‐commerce market is bright. We believe online gross merchandise value (“GMV”) will grow at a mid‐teens CAGR over the next five years, propelled by both (1) rising consumption per capita, as the Chinese retail market is equal in size to the U.S. despite four times as many consumers, and (2)increased penetration of retail by online, a trend which we believe has been structurally accelerated by the COVID‐ 19 pandemic. As the e‐commerce market matures, we believe Alibaba & JD will leverage scale and growing repositories of transaction data to increase monetization of their platforms through targeted advertising to improve revenue yields (revenues as a percentage of GMV) from a starting point of less than 4% today. As a point of comparison, brick‐and‐mortar retail store rent expenses in China are greater than 10% of sales on average, which provides a significant umbrella for online marketplaces to take a greater share of GMV through a combination of commission and advertising spending as online retailer cost structures converge with brick‐ and‐mortar retail. Finally, we continue to be excited about the latent potential in some of Alibaba’s businesses beyond the core e‐commerce marketplaces – particularly the cloud computing business, Aliyun. China’s cloud computing industry remains nascent but is growing nearly 3x faster than its developed market counterparts through a combination of rising IT intensity, rapid cloud penetration, and a gradual moderation in software piracy. Within that market, Aliyun is increasingly dominant (with nearly 50% market share) and will generate dramatic profit growth as margins expand with scale. As one reference point, Aliyun today resembles Amazon’s AWS business five years ago; this is an encouraging comparison given that today, AWS’ operating profits (and estimated enterprise value) exceed Alibaba’s business in its entirety. Ant Financial – in which Alibaba holds a ~30% stake that is worth roughly $70 billion – has announced its intention to go public later this year. Alibaba shares will benefit further should they become accessible to mainland Chinese investors through inclusion in the Southbound Connect.” 9. Starbucks Corporation (NASDAQ: SBUX ) SBUX ranks 9th in our list of the 10 best stocks to buy for 2021. The coffeehouse chain Starbucks Corporation (NASDAQ: SBUX) is among the best stocks to buy according to the billionaire investor. Stanley Druckenmiller's family office increased its stake by 61% in Starbucks Corporation during the third quarter. The firm currently holds 1.4 million shares of SBUX valued at $125, accounting for 3.65% of the portfolio. Shares of Starbucks underperformed this year amid social distancing policies and lockdowns. However, Druckenmiller saw the underperformance as a buying opportunity for the long-term. The future fundamentals of Starbucks improved sharply due to the discovery of the coronavirus vaccine. In addition to prospects for share price gains, Starbucks Corporation's strategy of offering dividends to investors makes it a good stock to hold for the long-term. Its dividend yield currently hovers above 1.70%. Pershing Square talked about SBUX in its 2020 Q2 investor letter . Here is an excerpt: "Given the company’s leading presence in China, Starbucks was well-prepared for the arrival of Covid-19 in the U.S. After an outstanding start to the calendar year with same-store sales growth between 6% and 7% through mid-March, the company rapidly shifted to a drive-thru and delivery-only model. With 44% of the store base open, April same-store sales declined and bottomed at negative 65%. As management steadily reopened both locations and in-store ordering, same-store sales improved to negative 14% in July, with 96% of stores open. The sales recovery has been driven by store re-openings and underlying sales momentum, with same-store sales of stores open throughout the year improving from a low of negative 25% in April, to positive 2% in July. The recovery path in the U.S. closely parallels what Starbucks has achieved in China, albeit with a lag of about one quarter given the later arrival of the virus in U.S. Starbucks is taking longer to recover than our other restaurant companies given that the brand generates 50% of sales from breakfast, a daypart which is geared towards work and school commuting routines. We believe that the company’s long-term earnings power, however, is undiminished, and that recent developments have left Starbucks in perhaps its strongest-ever competitive position, underpinned by the company’s leading digital ecosystem both in the U.S. and globally, as well as the demise of its key competitor, Luckin Coffee, in China. Management is playing offense by investing in key growth initiatives including digital, with the loyalty program set to receive another major upgrade this fall, new store formats such as pickuponly locations, and menu innovation including plant-based beverages and food. Management has cited improving speed of service at the drive-thru as the largest potential driver for increasing near-term sales.” 8. Barrick Gold Corporation (NYSE: GOLD ) GOLD ranks 8th in our list of the 10 best stocks to buy for 2021. Stanley Druckenmiller has invested aggressively in gold over the past couple of quarters as he believes the US dollar value depreciation will support gold price in the years ahead. The all-time great hedge fund manager increased its stake in Barrick Gold Corporation by 13%, making it the eighth largest stock holding at the end of the third quarter. Duquesne Family Office currently holds 4.8 million shares of Barrick Gold valued at $136 million. The shares of Canada based gold mining company soared close to 27% in the last twelve months, extending the five years gains to over 200%. Stanley Druckenmiller first initiated a stake in Barrick Gold during the fourth quarter of 2018. The gold mining company is a good stock to hold amid its hefty dividends. Its dividend yield currently stands above 1.5%. 7. Penn National Gaming (NASDAQ: PENN ) PENN ranks 7th in our list of the 10 best stocks to buy for 2021. The Casinos and Gaming company Penn National Gaming (NASDAQ: PENN) is among the largest stock purchases of Stanley Druckenmiller during the third quarter. The billionaire investor seeks to make profits from the increasing demand for video-gaming activities. After initiating a position in the second quarter, he has increased his stake by 80% in Penn National Gaming during the September quarter, making it the seventh-largest stock holding. The investment is valued at $137 and accounts for 3.99% of the portfolio. The shares of the casino and gaming giant surged more than 200% since the beginning of this year. Some market analysts say it’s just the beginning of the growth story. "The sector has numerous tailwinds, including legislative, demographic, and technological. We see the TAM growing from ~$3B to >$18B and potentially >$40B... Currently, 25 states and Washington D.C., have legalized Sports Betting, but only 15 and D.C. have authorized online/mobile functionality," said Piper Sandler analyst Yung Kim. Baron Discovery Fund is one of the investors who are bullish on Penn. Here is what they said in their Q3 investor letter : “Shares of regional casino company Penn National Gaming, Inc. increased in the quarter on news of strong betting activity after the early September launch of Penn’s Barstool online sports betting application. Penn reported quarterly revenue and earnings results that beat investor expectations driven by robust margin growth across all of its casino properties. This margin expansion was especially impressive as revenues continue to be challenged by fewer customer visits due to COVID-19. Penn was able to more than offset the lower revenue by limiting non-gaming amenities and using targeted marketing to make sure it had the most profitable consumers in its casinos. The better-than-expected profitability, combined with a recent equity offering, helped Penn significantly improve its balance sheet. We think the stronger balance sheet will allow Penn to be in a better position to invest and aggressively grow its online sports betting operations going forward.” 6. Netflix (NASDAQ: NFLX ) The world’s largest streaming giant Netflix (NASDAQ: NFLX) has been among the biggest beneficiaries of social distancing and staying at home policies. Share of Netflix soared more than 60% so far in fiscal 2019, driven by substantial growth in subscribers. All-time great hedge fund investor Stanley Druckenmiller has sold 10% of his stake in the September quarter to capitalize on gains and move the cash towards other emerging opportunities. Despite that, the investors believe in the future fundamentals of the streaming company as Netflix still accounts for 4.04% of the portfolio. Druckenmiller is also bullish on Disney, however, his DIS position in a fraction of his NFLX stake. Netflix has added 28.1 million paid memberships in the first nine months of the year, exceeding the 27.8 million that it added for all of 2019. The company expects to add 6 million global streaming paid net adds in the December quarter to reach 200M subscribers overall. Click to skip ahead and see the 5 Best Stocks To Buy for 2021 . Suggested articles: 10 Best Gold Stocks To Buy Now According To Billionaire Hedge Fund 10 Best Chinese Stocks To Buy Now Disclosure: No Position. 10 best stocks to buy for 2021 according to billionaire Stan Druckenmiller is originally published on Insider Monkey. || 10 Best Stocks To Buy For 2021 According to Billionaire Stan Druckenmiller: In this article, we presented the 10 best stocks to buy for 2021 according to billionaire Stan Druckenmiller.Click to skip ahead and see the5 Best Stocks To Buy for 2021.
Billionaire investorStanley Druckenmilleris one of the all-time great investors. Druckenmiller and his colleague George Soros worked together for years and established a history of generating huge gains from macroeconomic trends. The two legendary investors have famously bet against the British pound in 1992 that resulted in massive profits.
While the billionaire Druckenmiller has closed Duquesne Capital in 2010 and currently runs a family office to manage his fortune, his stock pickss and market analysis are worth considering. You may not remember but back in 2015 when David Einhorn was still an influential hedge fund manager and shorting Amazon, Druckenmiller talked positively about Amazon in an investment conference. You now know which hedge fund manager had a better eyesight. Also around the same time Warren Buffett was loading up on IBM shares. This time Druckenmiller was bearish on IBM (read this articleto refresh your memory) and he was proven right one more time. That's why when Stan Druckenmiller takes a position, we pay attention.
The billionaire investor has recently claimed it’s not wise to short the markets, even though the focus is shifted towards value from growth stocks amid coronavirus vaccine discovery. He believes hundreds of companies are likely to benefit from coronavirus vaccine discovery.
“You’ve had a bunch of equities benefiting greatly from work from home,” Druckenmiller said. “A lot of money has rotated into them. They are overvalued.” “But then you’ve got a whole other sector of the market that has struggled mightily because of Covid,” he said. “They’re selling at under-value relative to, say, a three-to-five-year outlook. So the rotation into that would seem entirely rational.”
Stanley Druckenmiller of Duquesne Capital
Although he is popular for using a macroeconomics-driven investment style, his portfolio movements show a mix of long and short exposures.
The third quarter portfolio stakes show that the billionaire investor is bullish on stock markets, with a focus on both value and growth stocks. Duquesne Family Office portfolio includes 61 stocks valued at $3.4 billion, according to the latest 13F filing. Stanley Druckenmiller has initiated new positions in 16 stocks and added to 18 existing stakes. The firm has also sold out stakes in 27 stocks and reduced positions in 14 stocks.
The billionaire investor also looks bullish over the future fundamentals of gold and Bitcoin as he thinks Federal Reserve’s low-interest-rate policies along with stimulus measures would increase inflation in the years ahead. He suggests investors put money in gold and bitcoin as a way of hedging against the fall in the US dollar value.
Billionaire U.S. investor Stanley Druckenmiller recently said he owns bitcoin and he expects bitcoin to outperform in the days ahead. "Bitcoin has a lot of attraction as a store of value to both millennials and the new West Coast money and, as you know, they have a lot of it," Druckenmiller said. The Wall Street legend believes Bitcoin is stabilizing with every passing day since it launched in 2008.
While Stanley Druckenmiller's reputation remains intact, the same can’t be said of the hedge fund industry as a whole, as its reputation has been tarnished in the last decade during which its hedged returns couldn’t keep up with the unhedged returns of the market indices. On the other hand, Insider Monkey’s research was able to identify in advance a select group of hedge fund holdings that outperformed the S&P 500 ETFs by more than 78 percentage points since March 2017 (see the details here). We were also able to identify in advance a select group of hedge fund holdings that significantly underperformed the market. We have been tracking and sharing the list of these stocks since February 2017 and they lost 13% through November 16. That’s why we believe hedge fund sentiment is an extremely useful indicator that investors should pay attention to. You can subscribe to our free newsletter on our homepage to receive our stories in your inbox.
Let’s start examining the 10 best stocks to buy for 2021 according to billionaire Stan Druckenmiller.
The Chinese e-commerce company JD.com (NASDAQ: JD) is the tenth-largest stock holding of the legendary Stanley Druckenmiller family office portfolio, accounting for 3.43% of the overall portfolio. The billionaire investor is seeking to generate returns from one of the top-performing growth stocks as pandemic has significantly shifted consumer's focus towards online platforms.
Indeed, the billionaire investor who recently stated that markets will extend gains despite higher valuations has added to its existing JD position in the latest quarter. The family office currently holds 1.5 million shares of the Chinese e-commerce company valued at $118 million. Druckenmiller's protfolio has benefited substantially from its position in JD.com since the second quarter of 2019 as shares of the Chinese online platform soared 135% in the last twelve months alone.
Its September quarter revenue jumped 29% year over a year while annual active customer accounts surged 32% to 441.6 million in the trailing twelve months.
Third Point talked about both JD and Alibaba (BABA) in itsQ2 investor letter:
“During the quarter, we took advantage of jitters about China’s relationships with Hong Kong and the U.S. that created an air pocket in trading of Chinese‐related shares to establish new positions in e‐commerce leaders Alibaba and JD.com. As we have articulated in prior letters3, our outlook for Alibaba and the broader Chinese e‐commerce market is bright. We believe online gross merchandise value (“GMV”) will grow at a mid‐teens CAGR over the next five years, propelled by both (1) rising consumption per capita, as the Chinese retail market is equal in size to the U.S. despite four times as many consumers, and (2)increased penetration of retail by online, a trend which we believe has been structurally accelerated by the COVID‐ 19 pandemic.
SBUX ranks 9th in our list of the 10 best stocks to buy for 2021. The coffeehouse chain Starbucks Corporation (NASDAQ: SBUX) is among the best stocks to buy according to the billionaire investor. Stanley Druckenmiller's family office increased its stake by 61% in Starbucks Corporation during the third quarter. The firm currently holds 1.4 million shares of SBUX valued at $125, accounting for 3.65% of the portfolio.
Shares of Starbucks underperformed this year amid social distancing policies and lockdowns. However, Druckenmiller saw the underperformance as a buying opportunity for the long-term. The future fundamentals of Starbucks improved sharply due to the discovery of the coronavirus vaccine. In addition to prospects for share price gains, Starbucks Corporation's strategy of offering dividends to investors makes it a good stock to hold for the long-term. Its dividend yield currently hovers above 1.70%.
Pershing Square talked about SBUX in its2020 Q2 investor letter. Here is an excerpt:
"Given the company’s leading presence in China, Starbucks was well-prepared for the arrival of Covid-19 in the U.S. After an outstanding start to the calendar year with same-store sales growth between 6% and 7% through mid-March, the company rapidly shifted to a drive-thru and delivery-only model. With 44% of the store base open, April same-store sales declined and bottomed at negative 65%. As management steadily reopened both locations and in-store ordering, same-store sales improved to negative 14% in July, with 96% of stores open. The sales recovery has been driven by store re-openings and underlying sales momentum, with same-store sales of stores open throughout the year improving from a low of negative 25% in April, to positive 2% in July. The recovery path in the U.S. closely parallels what Starbucks has achieved in China, albeit with a lag of about one quarter given the later arrival of the virus in U.S.
GOLD ranks 8th in our list of the 10 best stocks to buy for 2021. Stanley Druckenmiller has invested aggressively in gold over the past couple of quarters as he believes the US dollar value depreciation will support gold price in the years ahead.
The all-time great hedge fund manager increased its stake in Barrick Gold Corporation by 13%, making it the eighth largest stock holding at the end of the third quarter. Duquesne Family Office currently holds 4.8 million shares of Barrick Gold valued at $136 million.
The shares of Canada based gold mining company soared close to 27% in the last twelve months, extending the five years gains to over 200%. Stanley Druckenmiller first initiated a stake in Barrick Gold during the fourth quarter of 2018. The gold mining company is a good stock to hold amid its hefty dividends. Its dividend yield currently stands above 1.5%.
PENN ranks 7th in our list of the 10 best stocks to buy for 2021. The Casinos and Gaming company Penn National Gaming (NASDAQ: PENN) is among the largest stock purchases of Stanley Druckenmiller during the third quarter.
The billionaire investor seeks to make profits from the increasing demand for video-gaming activities. After initiating a position in the second quarter, he has increased his stake by 80% in Penn National Gaming during the September quarter, making it the seventh-largest stock holding. The investment is valued at $137 and accounts for 3.99% of the portfolio.
The shares of the casino and gaming giant surged more than 200% since the beginning of this year. Some market analysts say it’s just the beginning of the growth story.
"The sector has numerous tailwinds, including legislative, demographic, and technological. We see the TAM growing from ~$3B to >$18B and potentially >$40B... Currently, 25 states and Washington D.C., have legalized Sports Betting, but only 15 and D.C. have authorized online/mobile functionality," said Piper Sandler analyst Yung Kim.
Baron Discovery Fund is one of the investors who are bullish on Penn. Here is what they said in theirQ3 investor letter:
“Shares of regional casino company Penn National Gaming, Inc. increased in the quarter on news of strong betting activity after the early September launch of Penn’s Barstool online sports betting application. Penn reported quarterly revenue and earnings results that beat investor expectations driven by robust margin growth across all of its casino properties. This margin expansion was especially impressive as revenues continue to be challenged by fewer customer visits due to COVID-19. Penn was able to more than offset the lower revenue by limiting non-gaming amenities and using targeted marketing to make sure it had the most profitable consumers in its casinos. The better-than-expected profitability, combined with a recent equity offering, helped Penn significantly improve its balance sheet. We think the stronger balance sheet will allow Penn to be in a better position to invest and aggressively grow its online sports betting operations going forward.”
The world’s largest streaming giant Netflix (NASDAQ: NFLX) has been among the biggest beneficiaries of social distancing and staying at home policies. Share of Netflix soared more than 60% so far in fiscal 2019, driven by substantial growth in subscribers. All-time great hedge fund investor Stanley Druckenmiller has sold 10% of his stake in the September quarter to capitalize on gains and move the cash towards other emerging opportunities.
Despite that, the investors believe in the future fundamentals of the streaming company as Netflix still accounts for 4.04% of the portfolio. Druckenmiller is also bullish on Disney, however, his DIS position in a fraction of his NFLX stake. Netflix has added 28.1 million paid memberships in the first nine months of the year, exceeding the 27.8 million that it added for all of 2019. The company expects to add 6 million global streaming paid net adds in the December quarter to reach 200M subscribers overall.
Click to skip ahead and see the5 Best Stocks To Buy for 2021.
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Disclosure: No Position.10 best stocks to buy for 2021 according to billionaire Stan Druckenmilleris originally published on Insider Monkey. || On-Chain Data Suggests More Institutions Are Buying Bitcoin Over the Counter: Despite bitcoin trading near all-time highs, more institutions continue to buy bitcoin, and theyre using over-the-counter (OTC) trading firms to keep their purchases from impacting the overall market. Unlike retail investors or smaller institutions that use crypto exchanges, large institutions usually trade bitcoin through the OTC market, noted John Todaro, director of institutional research at cryptocurrency analysis firm TradeBlock. That way, their transactions wont move prices the way they would had the investors used even the largest centralized exchanges. One reason thats the case is OTC transactions are also much more opaque compared with trades on exchanges. Without transparent data on OTC transactions, it is difficult to track or gauge this side of the crypto market. Related: Square's Cash App Now Lets Customers Get Bitcoin Back on Purchases However, three different metrics monitored by blockchain analytics firm CryptoQuant provide an idea of whats happening in the crypto OTC market and could give clues that in the coming weeks and months, more large institutions may come out to disclose their bitcoin positions. When a massive bitcoin outflow takes place on Coinbase Pro, it tends to go to Coinbases own cold wallets for custody that hold 6,000-8,000 BTC, according to Ki Young Jun, chief executive of CryptoQuant. We only know its not going to hot wallets [because] we have their address labels, Ki added. Exchange users withdrawals can happen, but I would say 99% of big single transactions over 5,000 bitcoin are either internal transfers or going to custody wallets. For example, a closer look at the spike in bitcoin outflow that took place on Dec. 12 shows that between 8,000 and 15,000 BTC were moved out of Coinbase Pro to other cold wallets, an implication of OTC deals, Ki said. Related: Tiny Capital's Wilkinson Shows Interest in Bitcoin Coinbase Custody is directly integrated with Coinbases OTC desk, meaning that its clients can leverage the OTC desk without having to move funds out of cold storage. Story continues Read More: Coinbase Completes First OTC Crypto Trade Directly From Cold Storage Both MicroStrategy and British investment firm Ruffer have revealed that their purchases of hundreds of millions of dollars worth of bitcoin were facilitated by Coinbase. Read More: Ruffer Investment Used Coinbase to Execute $745M Bitcoin Buy Another metric, the fund flow ratio for all exchanges, has gone down since the market sell-off in March. This is the ratio of network transaction volume of exchanges compared to the entire cryptocurrency transferred on the network. A lower number means fewer transactions that are done on exchanges and are instead conducted outside exchanges such as over-the-counter. Notably, the last time the fund flow ratio was at the current level (approximately 5%) was when major crypto exchanges launched their OTC desks in early 2019. Read More: Bittrex Launches OTC Trading Desk With 200 Cryptocurrencies The third metric, the total amount of bitcoin transferred on the blockchain, has continued growing. This, coupled with the decreased fund flow ratio, indicates that potential massive OTC deals from the likes of institutions are ongoing, Ki said. What were seeing is an entire class of investors who are new to the crypto market and want to establish positions, Matthew Hougan, chief investment officer at Bitwise Asset Management, told CoinDesk. They are not so much buying the dip as simply buying, consistently and over time. Related Stories On-Chain Data Suggests More Institutions Are Buying Bitcoin Over the Counter On-Chain Data Suggests More Institutions Are Buying Bitcoin Over the Counter || On-Chain Data Suggests More Institutions Are Buying Bitcoin Over the Counter: Despite bitcoin trading near all-time highs, more institutions continue to buy bitcoin, and theyre using over-the-counter (OTC) trading firms to keep their purchases from impacting the overall market. Unlike retail investors or smaller institutions that use crypto exchanges, large institutions usually trade bitcoin through the OTC market, noted John Todaro, director of institutional research at cryptocurrency analysis firm TradeBlock. That way, their transactions wont move prices the way they would had the investors used even the largest centralized exchanges. One reason thats the case is OTC transactions are also much more opaque compared with trades on exchanges. Without transparent data on OTC transactions, it is difficult to track or gauge this side of the crypto market. Related: Square's Cash App Now Lets Customers Get Bitcoin Back on Purchases However, three different metrics monitored by blockchain analytics firm CryptoQuant provide an idea of whats happening in the crypto OTC market and could give clues that in the coming weeks and months, more large institutions may come out to disclose their bitcoin positions. When a massive bitcoin outflow takes place on Coinbase Pro, it tends to go to Coinbases own cold wallets for custody that hold 6,000-8,000 BTC, according to Ki Young Jun, chief executive of CryptoQuant. We only know its not going to hot wallets [because] we have their address labels, Ki added. Exchange users withdrawals can happen, but I would say 99% of big single transactions over 5,000 bitcoin are either internal transfers or going to custody wallets. For example, a closer look at the spike in bitcoin outflow that took place on Dec. 12 shows that between 8,000 and 15,000 BTC were moved out of Coinbase Pro to other cold wallets, an implication of OTC deals, Ki said. Related: Tiny Capital's Wilkinson Shows Interest in Bitcoin Coinbase Custody is directly integrated with Coinbases OTC desk, meaning that its clients can leverage the OTC desk without having to move funds out of cold storage. Story continues Read More: Coinbase Completes First OTC Crypto Trade Directly From Cold Storage Both MicroStrategy and British investment firm Ruffer have revealed that their purchases of hundreds of millions of dollars worth of bitcoin were facilitated by Coinbase. Read More: Ruffer Investment Used Coinbase to Execute $745M Bitcoin Buy Another metric, the fund flow ratio for all exchanges, has gone down since the market sell-off in March. This is the ratio of network transaction volume of exchanges compared to the entire cryptocurrency transferred on the network. A lower number means fewer transactions that are done on exchanges and are instead conducted outside exchanges such as over-the-counter. Notably, the last time the fund flow ratio was at the current level (approximately 5%) was when major crypto exchanges launched their OTC desks in early 2019. Read More: Bittrex Launches OTC Trading Desk With 200 Cryptocurrencies The third metric, the total amount of bitcoin transferred on the blockchain, has continued growing. This, coupled with the decreased fund flow ratio, indicates that potential massive OTC deals from the likes of institutions are ongoing, Ki said. What were seeing is an entire class of investors who are new to the crypto market and want to establish positions, Matthew Hougan, chief investment officer at Bitwise Asset Management, told CoinDesk. They are not so much buying the dip as simply buying, consistently and over time. Related Stories On-Chain Data Suggests More Institutions Are Buying Bitcoin Over the Counter On-Chain Data Suggests More Institutions Are Buying Bitcoin Over the Counter || On-Chain Data Suggests More Institutions Are Buying Bitcoin Over the Counter: Despite bitcoin trading near all-time highs, more institutions continue to buy bitcoin, and theyre using over-the-counter (OTC) trading firms to keep their purchases from impacting the overall market. Unlike retail investors or smaller institutions that use crypto exchanges, large institutions usually trade bitcoin through the OTC market, noted John Todaro, director of institutional research at cryptocurrency analysis firm TradeBlock. That way, their transactions wont move prices the way they would had the investors used even the largest centralized exchanges. One reason thats the case is OTC transactions are also much more opaque compared with trades on exchanges. Without transparent data on OTC transactions, it is difficult to track or gauge this side of the crypto market. Related: Square's Cash App Now Lets Customers Get Bitcoin Back on Purchases However, three different metrics monitored by blockchain analytics firm CryptoQuant provide an idea of whats happening in the crypto OTC market and could give clues that in the coming weeks and months, more large institutions may come out to disclose their bitcoin positions. When a massive bitcoin outflow takes place on Coinbase Pro, it tends to go to Coinbases own cold wallets for custody that hold 6,000-8,000 BTC, according to Ki Young Jun, chief executive of CryptoQuant. We only know its not going to hot wallets [because] we have their address labels, Ki added. Exchange users withdrawals can happen, but I would say 99% of big single transactions over 5,000 bitcoin are either internal transfers or going to custody wallets. For example, a closer look at the spike in bitcoin outflow that took place on Dec. 12 shows that between 8,000 and 15,000 BTC were moved out of Coinbase Pro to other cold wallets, an implication of OTC deals, Ki said. Related: Tiny Capital's Wilkinson Shows Interest in Bitcoin Coinbase Custody is directly integrated with Coinbases OTC desk, meaning that its clients can leverage the OTC desk without having to move funds out of cold storage. Story continues Read More: Coinbase Completes First OTC Crypto Trade Directly From Cold Storage Both MicroStrategy and British investment firm Ruffer have revealed that their purchases of hundreds of millions of dollars worth of bitcoin were facilitated by Coinbase. Read More: Ruffer Investment Used Coinbase to Execute $745M Bitcoin Buy Another metric, the fund flow ratio for all exchanges, has gone down since the market sell-off in March. This is the ratio of network transaction volume of exchanges compared to the entire cryptocurrency transferred on the network. A lower number means fewer transactions that are done on exchanges and are instead conducted outside exchanges such as over-the-counter. Notably, the last time the fund flow ratio was at the current level (approximately 5%) was when major crypto exchanges launched their OTC desks in early 2019. Read More: Bittrex Launches OTC Trading Desk With 200 Cryptocurrencies The third metric, the total amount of bitcoin transferred on the blockchain, has continued growing. This, coupled with the decreased fund flow ratio, indicates that potential massive OTC deals from the likes of institutions are ongoing, Ki said. What were seeing is an entire class of investors who are new to the crypto market and want to establish positions, Matthew Hougan, chief investment officer at Bitwise Asset Management, told CoinDesk. They are not so much buying the dip as simply buying, consistently and over time. Related Stories On-Chain Data Suggests More Institutions Are Buying Bitcoin Over the Counter On-Chain Data Suggests More Institutions Are Buying Bitcoin Over the Counter || Decentralized Finance Is on the Rise. What You Need to Know in 2021.: Few had heard much about decentralized finance (DeFi) in its early days in late 2017 and late 2019, beyond murmurs about Bitcoin and a mysterious new digital technology called blockchain.
But a pandemic can change everything.
Since May of this year, the total value locked (TVL)—the amount of any currency locked into tokens, the vehicle of holding and moving assets on blockchain, in smart contracts on a blockchain ecosystem—in decentralized finance projects rose a whopping 2,000 percent,according to DeFi Pulse. Many investors would be hard-pressed to find such an astronomical rise of any assets or expansion of any financial ecosystem, but DeFi app developers seemed to find success. So what’s the rage, and why does it matter going into the new year?
DeFi, many fintech leaders argue, is the world's answer to the 2008 financial crisis. Thanks to poor decision making and a lack of proper financial regulation, legacy financial institutions brought the world’s economy to its knees in the most major financial crisis since the Great Depression. The knee-jerk reaction was to create an ecosystem dependent on every link in the chain, rather than centralized authorities—hence the term "decentralized finance." The concept of blockchain, a decentralized ledger, was designed to ensure financial transactions would be transparent. Moreover, transaction approval would come from network individuals incentivized to approve them by solving complex mathematical equations or by network consensus voting.
Later, the idea of operating a decentralized financial system on a decentralized ledger, independent of legacy institutions, grew into a thriving, albeit relatively small, ecosystem. Now, users can find financial services on the distributed ledger for loans, insurance, margin trading, exchanges, and yield farming (yielding rewards from staking digital assets on a network to help facilitate network liquidity). But there is still a way to go. Not enough consumers are comfortable with DeFi quite yet, because platform accessibility and blockchain tribalism remain a problem. Nevertheless, now the world is experiencing another economic crisis brought on by the COVID-19 pandemic, and DeFi is finally getting its day in the sun.
Related:Getting Drawn Into DeFi? Here Are Three Major Considerations
For companies and individuals already active in the space, navigating the ecosystem remains impeded by technical limitations. In order to access certain markets and execute transactions on the blockchain—whether it's borrowing or lending, staking assets in liquidity pools, or trading on an exchange—users need to own an e-wallet that's properly connected to the ecosystem.
E-wallets are the backbone of transactions on blockchain. Just as the digital assets they help transact and store, these wallets are secure, transparent, and easily accessible to users. At least, that’s the idea behind them, though there are various degrees of security and transparency. For DeFi to attract more users, the wallets must be compatible with multiple blockchains running financial dApps (decentralized apps that operate on a blockchain system). One of the first wallets, created by Ethereum and called "MyEtherWallet" (MEW), lacked a user-friendly interface and was challenging to grasp for people outside the hardcore crypto crowd.
Since then, a number of blockchain developers have created alternative e-wallet solutions. Most recently,Spielworks, a blockchain gaming startup, reached an agreement with Equilibrium and DeFiBox to integrate its e-wallet "Wombat," which is currently available on the Telos and EOS blockchain mainnet (a blockchain network that is fully developed, deployed, and operational). The Wombat wallet provides users with access to several DeFi platforms that offer token exchanges, yield farming, borrowing, and lending. Wombat recently also integrated with Bitfinex’s new EOS exchange, Eosfinex, as well as 8 other DeFi networks. Rather impressively, the wallet also offers free and fast account creation, automatic key backup, and free blockchain resources.
Related:Cryptocurrency Innovators Need to Simplify User Experience
Developments in blockchain wallets, such as Wombat’s, will be pivotal in the next few years in the growth of DeFi applications and the movement of users toward decentralized finance and away from traditional finance. While wallets are important, so are the underlying mechanisms to piece the entire ecosystem together, because one a DeFi ecosystem is not enough if confined to just one blockchain mainnet.
"A house divided against itself cannot stand." President Lincoln’s famous quote referred to the Civil War that ravaged the United States at the time, but his historically renowned words can apply very well to the blockchain community today.
For DeFi to reach its maximum potential, as a decentralized ecosystem that doesn't answer to a central authority, blockchain platforms must stand united and interoperate. Could anyone imagine if payment transfers between regular banks were not possible? How could an economy function? This is the sort of technical problem plaguing the DeFi world: Each blockchain platform has its own benefits, but each remains largely separated from the others in its own silo. The root of the problem is attitude, the other part is technical limitations.
Related:15 Crazy and Surprising Ways People Are Using Blockchain
Ethereum and EOS are primary examples of this sort of rivalry, both of which have their own technical benefits for dApp developers. If the two ecosystems could be connected to one another, EOS-based and Ethereum-based developers alike, for example, could benefit from each other's platform's strengths. Users could also benefit, via financial opportunities without having to sacrifice shifting their base from one blockchain to another.
This is precisely what LiquidApps's latest development—its DAPP Network bridging—has solved. LiquidApps's technology provides the technical mechanisms to connect separate blockchain mainnets and recently provided its tools to EOS-based developers to successfully deploy a bridge between EOS and Ethereum. This was shortly followed by decentralized social media app Yup's deployment that demonstrated the possibility of moving tokens easily between different once-separate blockchain mainnets. It still remains to be seen how long it will take before blockchain platforms themselves integrate built-in cross-chain technologies, but LiquidApps is starting the next crucial step to DeFi development.
Whether it's cross-chain technology or the e-wallets that grant access to dApps, tech developments and attitudes in the DeFi space over the next few years will determine its success. The latest developments suggest the future of DeFi looks promising. Time to go decentralized. || Decentralized Finance Is on the Rise. What You Need to Know in 2021.: Few had heard much about decentralized finance (DeFi) in its early days in late 2017 and late 2019, beyond murmurs about Bitcoin and a mysterious new digital technology called blockchain. But a pandemic can change everything. Since May of this year, the total value locked (TVL)—the amount of any currency locked into tokens, the vehicle of holding and moving assets on blockchain, in smart contracts on a blockchain ecosystem—in decentralized finance projects rose a whopping 2,000 percent, according to DeFi Pulse . Many investors would be hard-pressed to find such an astronomical rise of any assets or expansion of any financial ecosystem, but DeFi app developers seemed to find success. So what’s the rage, and why does it matter going into the new year? What is DeFi? DeFi, many fintech leaders argue, is the world's answer to the 2008 financial crisis. Thanks to poor decision making and a lack of proper financial regulation, legacy financial institutions brought the world’s economy to its knees in the most major financial crisis since the Great Depression. The knee-jerk reaction was to create an ecosystem dependent on every link in the chain, rather than centralized authorities—hence the term "decentralized finance." The concept of blockchain, a decentralized ledger, was designed to ensure financial transactions would be transparent. Moreover, transaction approval would come from network individuals incentivized to approve them by solving complex mathematical equations or by network consensus voting. Later, the idea of operating a decentralized financial system on a decentralized ledger, independent of legacy institutions, grew into a thriving, albeit relatively small, ecosystem. Now, users can find financial services on the distributed ledger for loans, insurance, margin trading, exchanges, and yield farming (yielding rewards from staking digital assets on a network to help facilitate network liquidity). But there is still a way to go. Not enough consumers are comfortable with DeFi quite yet, because platform accessibility and blockchain tribalism remain a problem. Nevertheless, now the world is experiencing another economic crisis brought on by the COVID-19 pandemic, and DeFi is finally getting its day in the sun. Story continues Related: Getting Drawn Into DeFi? Here Are Three Major Considerations E-wallets are leveling up For companies and individuals already active in the space, navigating the ecosystem remains impeded by technical limitations. In order to access certain markets and execute transactions on the blockchain—whether it's borrowing or lending, staking assets in liquidity pools, or trading on an exchange—users need to own an e-wallet that's properly connected to the ecosystem. E-wallets are the backbone of transactions on blockchain. Just as the digital assets they help transact and store, these wallets are secure, transparent, and easily accessible to users. At least, that’s the idea behind them, though there are various degrees of security and transparency. For DeFi to attract more users, the wallets must be compatible with multiple blockchains running financial dApps (decentralized apps that operate on a blockchain system). One of the first wallets, created by Ethereum and called "MyEtherWallet" (MEW), lacked a user-friendly interface and was challenging to grasp for people outside the hardcore crypto crowd. Since then, a number of blockchain developers have created alternative e-wallet solutions. Most recently, Spielworks , a blockchain gaming startup, reached an agreement with Equilibrium and DeFiBox to integrate its e-wallet "Wombat," which is currently available on the Telos and EOS blockchain mainnet (a blockchain network that is fully developed, deployed, and operational). The Wombat wallet provides users with access to several DeFi platforms that offer token exchanges, yield farming, borrowing, and lending. Wombat recently also integrated with Bitfinex’s new EOS exchange, Eosfinex, as well as 8 other DeFi networks. Rather impressively, the wallet also offers free and fast account creation, automatic key backup, and free blockchain resources. Related: Cryptocurrency Innovators Need to Simplify User Experience Developments in blockchain wallets, such as Wombat’s, will be pivotal in the next few years in the growth of DeFi applications and the movement of users toward decentralized finance and away from traditional finance. While wallets are important, so are the underlying mechanisms to piece the entire ecosystem together, because one a DeFi ecosystem is not enough if confined to just one blockchain mainnet. Piecing it all together "A house divided against itself cannot stand." President Lincoln’s famous quote referred to the Civil War that ravaged the United States at the time, but his historically renowned words can apply very well to the blockchain community today. For DeFi to reach its maximum potential, as a decentralized ecosystem that doesn't answer to a central authority, blockchain platforms must stand united and interoperate. Could anyone imagine if payment transfers between regular banks were not possible? How could an economy function? This is the sort of technical problem plaguing the DeFi world: Each blockchain platform has its own benefits, but each remains largely separated from the others in its own silo. The root of the problem is attitude, the other part is technical limitations. Related: 15 Crazy and Surprising Ways People Are Using Blockchain Ethereum and EOS are primary examples of this sort of rivalry, both of which have their own technical benefits for dApp developers. If the two ecosystems could be connected to one another, EOS-based and Ethereum-based developers alike, for example, could benefit from each other's platform's strengths. Users could also benefit, via financial opportunities without having to sacrifice shifting their base from one blockchain to another. This is precisely what LiquidApps's latest development—its DAPP Network bridging—has solved. LiquidApps's technology provides the technical mechanisms to connect separate blockchain mainnets and recently provided its tools to EOS-based developers to successfully deploy a bridge between EOS and Ethereum. This was shortly followed by decentralized social media app Yup's deployment that demonstrated the possibility of moving tokens easily between different once-separate blockchain mainnets. It still remains to be seen how long it will take before blockchain platforms themselves integrate built-in cross-chain technologies, but LiquidApps is starting the next crucial step to DeFi development. Whether it's cross-chain technology or the e-wallets that grant access to dApps, tech developments and attitudes in the DeFi space over the next few years will determine its success. The latest developments suggest the future of DeFi looks promising. Time to go decentralized. || Coinbase Going Public Could Let the SEC Dictate Which Tokens Get Listed: The Securities and Exchange Commission (SEC) might soon be able to dictate precisely which tokens a (specific) crypto exchange can list.
San Francisco-based Coinbaseannounced Thursdaythat it had filed a confidential S-1, an initial step to listing its shares on a national stock exchange, while Stockholm-based Safello announced its intent to file one on Friday. Going public would subject exchanges to closer regulatory scrutiny from the SEC.
Gabriel Shapiro, an attorney with Belcher, Smolen & Van Loo LLP, told CoinDesk that there are few federal laws around corporate governance. What shareholders approve and what a company’s board can approve are typically defined by state law. However, the SEC has been using its power to approve registration statements to try and enforce its will on public or soon-to-be-public entities, he said.
Related:Road to IPO: Coinbase's Power Struggles
For example, the SEC could force a company to break down details of a potential merger into multiple votes instead of having shareholders and directors vote just on the overall merger proposal.
“They’ve been monkeying with governance rules like this at the federal level even though there’s no federal laws around this,” he said.
Something similar could happen to crypto companies trying to list on stock exchanges within the U.S.
Read more:Coinbase, With Bitcoin Soaring, Files in Preparation for Landmark Public Offering
Related:Ruffer Investment Used Coinbase to Execute $745M Bitcoin Buy
For example, the SEC could say that crypto trading platforms need clearer procedures for how they list or delist different cryptocurrencies.
“’We don’t think you have a clear enough procedure for making sure the tokens that you list are not securities and we think you should adopt the same rules we use for determining whether a token is a security, and not list the ones that are securities,’” is something the SEC could hypothetically say, Shapiro told CoinDesk.
While it’s unlikely, the SEC could even require exchanges to delist certain tokens in this manner before deeming the S-1 forms effective.
Joel Telpner, a partner at Sullivan & Worcester, told CoinDesk that it is entirely possible the SEC might ask companies like Coinbase seeking to go public to answer certain questions about their operations.
“When you apply for a registration, that doesn’t mean you’re going to be able to go forward,” he said. “Theoretically the SEC could raise a number of questions about certain things that would require them to potentially make some changes in how they do things. That is always a possibility.”
Confidential S-1s are kept a secret until three weeks before the issuing party goes on its roadshow, which is a public relations push where the entity going public tries to sell its value to potential investors.
Oftentimes, the companies filing don’t reveal the existence of a confidential S-1 until that three-week period. Snapchat, for example, reportedlyfiled its S-1 in secretmonths before going public inMarch 2017.
Given that context, Coinbase’s decision to announce it had filed what is essentially a secretive document may seem strange. However, it could be that while it’s not quite ready to go public just yet, Coinbase is looking to take advantage of a recent boom in initial public offerings, as well asbitcoin’srecent price rise past $23,000.
The present moment is a good time for companies to go public, said Telpner. A number of companies outside the crypto space have already announced plans or gone public in recent weeks.
“IPOs are hot again,” Shapiro said. “This is a fantastic time to IPO, so they probably want people to know about it, they want people to buy it. The headlines are about BTC so it’s great timing.”
Read more:Ruffer Investment Used Coinbase to Execute $745M Bitcoin Buy
Coinbase may also have announced that it had filed the confidential S-1 with the SEC to get ahead of any possible leak of the document’s existence, Telpner said.
Companies that go public must file various statements to the SEC and its investors, which could make the public more comfortable with how those firms are operating, he said.
After WeWork filed, “the SEC said, ‘Uh, there are all these insider transactions, you’ve got to disclose those,’” Shapiro said. He added that he has no reason to believe this new IPO has similar issues, but “we’re going to find out a lot more about Coinbase.”
• Coinbase Going Public Could Let the SEC Dictate Which Tokens Get Listed
• Coinbase Going Public Could Let the SEC Dictate Which Tokens Get Listed || Coinbase Going Public Could Let the SEC Dictate Which Tokens Get Listed: The Securities and Exchange Commission (SEC) might soon be able to dictate precisely which tokens a (specific) crypto exchange can list. San Francisco-based Coinbase announced Thursday that it had filed a confidential S-1, an initial step to listing its shares on a national stock exchange, while Stockholm-based Safello announced its intent to file one on Friday. Going public would subject exchanges to closer regulatory scrutiny from the SEC. Gabriel Shapiro, an attorney with Belcher, Smolen & Van Loo LLP, told CoinDesk that there are few federal laws around corporate governance. What shareholders approve and what a company’s board can approve are typically defined by state law. However, the SEC has been using its power to approve registration statements to try and enforce its will on public or soon-to-be-public entities, he said. Related: Road to IPO: Coinbase's Power Struggles For example, the SEC could force a company to break down details of a potential merger into multiple votes instead of having shareholders and directors vote just on the overall merger proposal. “They’ve been monkeying with governance rules like this at the federal level even though there’s no federal laws around this,” he said. Something similar could happen to crypto companies trying to list on stock exchanges within the U.S. Read more: Coinbase, With Bitcoin Soaring, Files in Preparation for Landmark Public Offering Related: Ruffer Investment Used Coinbase to Execute $745M Bitcoin Buy For example, the SEC could say that crypto trading platforms need clearer procedures for how they list or delist different cryptocurrencies. “’We don’t think you have a clear enough procedure for making sure the tokens that you list are not securities and we think you should adopt the same rules we use for determining whether a token is a security, and not list the ones that are securities,’” is something the SEC could hypothetically say, Shapiro told CoinDesk. Story continues While it’s unlikely, the SEC could even require exchanges to delist certain tokens in this manner before deeming the S-1 forms effective. Joel Telpner, a partner at Sullivan & Worcester, told CoinDesk that it is entirely possible the SEC might ask companies like Coinbase seeking to go public to answer certain questions about their operations. “When you apply for a registration, that doesn’t mean you’re going to be able to go forward,” he said. “Theoretically the SEC could raise a number of questions about certain things that would require them to potentially make some changes in how they do things. That is always a possibility.” Raising attention Confidential S-1s are kept a secret until three weeks before the issuing party goes on its roadshow, which is a public relations push where the entity going public tries to sell its value to potential investors. Oftentimes, the companies filing don’t reveal the existence of a confidential S-1 until that three-week period. Snapchat, for example, reportedly filed its S-1 in secret months before going public in March 2017 . Given that context, Coinbase’s decision to announce it had filed what is essentially a secretive document may seem strange. However, it could be that while it’s not quite ready to go public just yet, Coinbase is looking to take advantage of a recent boom in initial public offerings, as well as bitcoin’s recent price rise past $23,000. The present moment is a good time for companies to go public, said Telpner. A number of companies outside the crypto space have already announced plans or gone public in recent weeks. “IPOs are hot again,” Shapiro said. “This is a fantastic time to IPO, so they probably want people to know about it, they want people to buy it. The headlines are about BTC so it’s great timing.” Read more: Ruffer Investment Used Coinbase to Execute $745M Bitcoin Buy Coinbase may also have announced that it had filed the confidential S-1 with the SEC to get ahead of any possible leak of the document’s existence, Telpner said. Companies that go public must file various statements to the SEC and its investors, which could make the public more comfortable with how those firms are operating, he said. After WeWork filed, “the SEC said, ‘Uh, there are all these insider transactions, you’ve got to disclose those,’” Shapiro said. He added that he has no reason to believe this new IPO has similar issues, but “we’re going to find out a lot more about Coinbase.” Related Stories Coinbase Going Public Could Let the SEC Dictate Which Tokens Get Listed Coinbase Going Public Could Let the SEC Dictate Which Tokens Get Listed || Balaji Srinivasan on Communist Capital vs. Woke Capital vs. Crypto Capital: One of the internet’s most fluid thinkers joins to give a brief history of the future. For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe with Apple Podcasts , Spotify , Pocketcasts , Google Podcasts , Castbox , Stitcher , RadioPublica , iHeartRadio or RSS . This episode is sponsored by Crypto.com and Nexo.io . Related: Why Bitcoin and Rehypothecation Don’t Mix Download this episode Balaji Srinivasan is an angel investor and entrepreneur, the former CTO of Coinbase, a former General Partner at Andressen Horowitz and more. In this wide-ranging conversation with NLW, he discusses: How networks are taking a power role once reserved for god and the state Why pre-internet institutions will not survive the internet Why bitcoin at $1 million is a global government Woke capital vs. communist capital vs. crypto capital Find our guest online: @balajis Related: Preston Pysh on Why Currencies Fail See also: Balaji Srinivasan: The Man Who Called COVID For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe with Apple Podcasts , Spotify , Pocketcasts , Google Podcasts , Castbox , Stitcher , RadioPublica , iHeartRadio or RSS . Related Stories Balaji Srinivasan on Communist Capital vs. Woke Capital vs. Crypto Capital Balaji Srinivasan on Communist Capital vs. Woke Capital vs. Crypto Capital || Balaji Srinivasan on Communist Capital vs. Woke Capital vs. Crypto Capital: One of the internet’s most fluid thinkers joins to give a brief history of the future.
Formore episodesand free early access before our regular 3 p.m. Eastern time releases, subscribe withApple Podcasts,Spotify,Pocketcasts,Google Podcasts,Castbox,Stitcher,RadioPublica,iHeartRadioorRSS.
This episode is sponsored byCrypto.comandNexo.io.
Related:Why Bitcoin and Rehypothecation Don’t Mix
Download this episode
Balaji Srinivasan is an angel investor and entrepreneur, the former CTO of Coinbase, a former General Partner at Andressen Horowitz and more.
In this wide-ranging conversation with NLW, he discusses:
• How networks are taking a power role once reserved for god and the state
• Why pre-internet institutions will not survive the internet
• Whybitcoinat $1 million is a global government
• Woke capital vs. communist capital vs. crypto capital
Find our guest online:@balajis
Related:Preston Pysh on Why Currencies Fail
See also:Balaji Srinivasan: The Man Who Called COVID
Formore episodesand free early access before our regular 3 p.m. Eastern time releases, subscribe withApple Podcasts,Spotify,Pocketcasts,Google Podcasts,Castbox,Stitcher,RadioPublica,iHeartRadioorRSS.
• Balaji Srinivasan on Communist Capital vs. Woke Capital vs. Crypto Capital
• Balaji Srinivasan on Communist Capital vs. Woke Capital vs. Crypto Capital
[Social Media Buzz]
None available.
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23477.29, 22803.08, 23783.03, 23241.35, 23735.95, 24664.79, 26437.04, 26272.29, 27084.81, 27362.44
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Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 373.37, 380.26, 336.82, 311.08, 338.15, 336.75, 332.91, 320.17, 330.75, 335.09, 334.59, 326.15, 322.02, 326.93, 324.54, 323.05, 320.05, 328.21, 352.68, 358.04, 357.38, 371.29, 377.32, 362.49, 359.19, 361.05, 363.18, 388.95, 388.78, 395.54, 415.56, 417.56, 415.48, 451.94, 435.00, 433.76, 444.18, 465.32, 454.93, 456.08, 463.62, 462.32, 442.68, 438.64, 436.57, 442.40, 454.98, 455.65, 417.27, 422.82, 422.28, 432.98, 426.62, 430.57, 434.33, 433.44, 430.01, 433.09, 431.96, 429.11, 458.05, 453.23, 447.61, 447.99, 448.43, 435.69, 432.37, 430.31, 364.33, 387.54, 382.30, 387.17, 380.15, 420.23, 410.26, 382.49, 387.49, 402.97, 391.73, 392.15, 394.97, 380.29, 379.47, 378.26, 368.77, 373.06, 374.45, 369.95, 389.59, 386.55.
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[Bitcoin Technical Analysis for 2016-02-05]
Volume: 43825000, RSI (14-day): 47.03, 50-day EMA: 397.73, 200-day EMA: 344.42
[Wider Market Context]
Gold Price: 1157.80, Gold RSI: 72.54
Oil Price: 30.89, Oil RSI: 44.78
[Recent News (last 7 days)]
Dividend stocks to watch in sluggish markets: After markets barely gained ground Thursday, "Fast Money" traders looked to dividend-paying stocks that could potentially boost returns. Major U.S. averages finished slightly positive on the day, but the S&P 500 (INDEX: .SPX) has fallen more than 6 percent this year. In that environment, some investors have started to search for yield. "Fast Money" traders focused on stocks with steady recent performance and above-average yields, avoiding the oil industry as some companies trim dividends . Verizon (NYSE: VZ) , which has climbed 9 percent this year and has a 4.5 percent dividend yield, looks appealing, said trader Karen Finerman. Trader Guy Adami touted shares of toy maker Mattel (NASDAQ: MAT) , which have climbed 18 percent this year, boosted by stronger-than-expected fourth-quarter earnings. The stock also rose Thursday amid reports that it held talks with Hasbro (NASDAQ: HAS) about a possible merger. Mattel has a yield of 4.8 percent. Traders Brian Kelly and Steve Grasso looked to tobacco company Philip Morris (NYSE: PM) , which has a yield of 4.6 percent. The stock has ticked 1 percent higher this year, but Kelly believes it has more room to run. Disclosures: Guy Adami Guy Adami is long CELG, EXAS, GDX, INTC, Guy Adami's wife, Linda Snow, works at Merck. Karen Finerman Karen is long BAC, C, FL, GOOG, GOOGL, JPM, LYV, KORS, M, SEDG, SPY calls, URI, she is short SPY. Her firm is long ANTM, AAPL, BAC, C, C calls, FINL, FL, GOOG, GOOGL, JPM, KORS, LYV, M, MOH, NRF, PLCE, URI, her firm is short IWM, MDY, SPY. Karen Finerman is on the board of GrafTech International. Steve Grasso Steve is Long AAPL, AEO, BA, BAC, CC, DD, DIS, DECK, EVGN, KBH, MJNA, MU, OLN, PFE, PHM, T, TWTR, GDX firm is long CXO, OXY, BP, CVX, RIG kids own EFA, EFG, EWJ, IJR, SPY Brian Kelly Brian Kelly is long BBRY, Bitcoin, GLD, SLV, TLT, US Dollar; he is short Aussie Dollar, British Pound, CS, DB, EWH, Hong Kong Dollar, UBS, SPY, Yuan. More From CNBC Top News and Analysis Latest News Video Personal Finance || Dividend stocks to watch in sluggish markets: After markets barely gained ground Thursday, "Fast Money" traders looked to dividend-paying stocks that could potentially boost returns.
Major U.S. averages finished slightly positive on the day, but the S&P 500(INDEX: .SPX)has fallen more than 6 percent this year. In that environment, some investors have started to search for yield.
"Fast Money" traders focused on stocks with steady recent performance and above-average yields, avoiding the oil industryas some companies trim dividends. Verizon(NYSE: VZ), which has climbed 9 percent this year and has a 4.5 percent dividend yield, looks appealing, said trader Karen Finerman.
Trader Guy Adami touted shares of toy maker Mattel(NASDAQ: MAT), which have climbed 18 percent this year, boosted by stronger-than-expected fourth-quarter earnings. The stock also rose Thursday amid reports that it held talks with Hasbro(NASDAQ: HAS)about a possible merger.
Mattel has a yield of 4.8 percent.
Traders Brian Kelly and Steve Grasso looked to tobacco company Philip Morris(NYSE: PM), which has a yield of 4.6 percent. The stock has ticked 1 percent higher this year, but Kelly believes it has more room to run.
Disclosures:
Guy Adami
Guy Adami is long CELG, EXAS, GDX, INTC, Guy Adami's wife, Linda Snow, works at Merck.
Karen Finerman
Karen is long BAC, C, FL, GOOG, GOOGL, JPM, LYV, KORS, M, SEDG, SPY calls, URI, she is short SPY. Her firm is long ANTM, AAPL, BAC, C, C calls, FINL, FL, GOOG, GOOGL, JPM, KORS, LYV, M, MOH, NRF, PLCE, URI, her firm is short IWM, MDY, SPY. Karen Finerman is on the board of GrafTech International.
Steve Grasso
Steve is Long AAPL, AEO, BA, BAC, CC, DD, DIS, DECK, EVGN, KBH, MJNA, MU, OLN, PFE, PHM, T, TWTR, GDX firm is long CXO, OXY, BP, CVX, RIG kids own EFA, EFG, EWJ, IJR, SPY
Brian Kelly
Brian Kelly is long BBRY, Bitcoin, GLD, SLV, TLT, US Dollar; he is short Aussie Dollar, British Pound, CS, DB, EWH, Hong Kong Dollar, UBS, SPY, Yuan.
More From CNBC
• Top News and Analysis
• Latest News Video
• Personal Finance || Is Oil Driving The Stock Market? And Should Traders Care?: Recent headlines imply that the slump in the oil market caused the January drop in global stocks. They also point to oil rallies as the reason for stock rallies. But is the relationship causation or just correlation? Should we say one happened “and” or “because” the other one did? Early in the Wednesday US trading session, crude oil futures dropped by nearly a dollar a barrel and the S&P 500 quickly moved in lockstep, dropping over 40 points in the same hour. The larger downward trend of Monday and Tuesday in oil was also mirrored in the stock market. Crude oil’s drop was a full 11%, the largest percentage drop since March 2009. However, the drop in stocks over those two days was not nearly as dramatic. On Wednesday, the markets diverged in the morning. Crude had a brief selloff when the weekly EIA Petroleum Status Report came out, but then it bounced and an hour later WTI crude oil futures (Nadex: Crude Oil) had pushed above $31 a barrel and come within 20 cents of $32. Stocks only came along for half of that ride. The S&P 500 (Nadex: US500) dropped 40 points, but only regained half of that loss. While oil was rising to two-day highs, stocks hovered near Tuesday’s lows. Clearly the exuberance among crude oil traders had not inspired similar optimism among stock index futures traders or investors as a whole. Later in the day stocks did rally, but at the day’s close, crude oil was up over 8% and equity indexes were unchanged. Clearly stock traders were not taking their cues from the bullishness of oil traders. In fact, it’s hard to say what crude oil traders were using to guide their decisions on Wednesday. Why were oil traders so bullish following a fairly downbeat EIA report? You’d have to do some mental gymnastics to come up with a direct reason. The record supply glut set a new record, with global oil inventories rising to over half a billion barrels and driving up gasoline inventories as well. Foreign output remains high, with Iran now adding more of its stockpiles and production to the world market. And with large inventories and weak demand, refineries are cutting back production. Story continues The weak demand comes despite the low prices. Demand for gasoline is off 0.9% year on year, despite gas prices being down 25% from this time in 2015. Demand for heating oil and distillates is down a full 16%, thanks to a warm winter and weak industrial demand. That perception of industrial weakness got further proof with Monday’s weak ISM Manufacturing Index report, the fourth weak report in a row and the worst streak of manufacturing numbers since 2009. And despite that substantial negative report, the bulls had the day in crude oil. And even though stocks ended flat, some analysts will say that crude oil’s rally had a delayed effect on stocks and caused the afternoon rally. When crude oil’s price action doesn’t even seem to have a logical connection to the latest supply and demand report, is it reasonable to think that stock traders are tying their decisions to such an emotional and unpredictable market? Stock traders aren’t showing much consistency in their reactions to the news, themselves. The recent earnings reports were overall positive among S&P 500 companies, indicating that US businesses continue to be profitable. Yet some are pointing to earnings per share as a problem sign. A report from Goldman Sachs even said that profit margins are too high and if they don’t go down and revert to the mean, they believe it raises questions about “the efficacy of capitalism” itself. It is a time when short-term traders who simply watch price movement tend to have an advantage. On Nadex, binary option and spread traders can trade the ups and downs without speculating on the whys and wherefores. Sometimes that is best left to the analysts. For traders, explaining the move isn’t nearly as important as trading it. This information has been prepared by Nadex, a trading name of North American Derivatives Exchange, Inc., prepared by independent third parties contracted by Nadex or reproduced form third party news agencies. In addition to the disclaimer below, the material on this page does not contain an offer of, or solicitation for, a transaction in any financial instrument. Nadex accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. See more from Benzinga New Ways To Trade China, Crude Oil And The Fed Bitcoin Is Thriving As Stock Markets Dive The Simple Reason This Market Drop Makes Sense © 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Is Oil Driving The Stock Market? And Should Traders Care?: Recent headlines imply that the slump in the oil market caused the January drop in global stocks. They also point to oil rallies as the reason for stock rallies. But is the relationship causation or just correlation? Should we say one happened “and” or “because” the other one did?
Early in the Wednesday US trading session, crude oil futures dropped by nearly a dollar a barrel and the S&P 500 quickly moved in lockstep, dropping over 40 points in the same hour.
The larger downward trend of Monday and Tuesday in oil was also mirrored in the stock market. Crude oil’s drop was a full 11%, the largest percentage drop since March 2009. However, the drop in stocks over those two days was not nearly as dramatic.
On Wednesday, the markets diverged in the morning. Crude had a brief selloff when the weekly EIA Petroleum Status Report came out, but then it bounced and an hour later WTI crude oil futures (Nadex: Crude Oil) had pushed above $31 a barrel and come within 20 cents of $32.
Stocks only came along for half of that ride. The S&P 500 (Nadex: US500) dropped 40 points, but only regained half of that loss. While oil was rising to two-day highs, stocks hovered near Tuesday’s lows. Clearly the exuberance among crude oil traders had not inspired similar optimism among stock index futures traders or investors as a whole.
Later in the day stocks did rally, but at the day’s close, crude oil was up over 8% and equity indexes were unchanged. Clearly stock traders were not taking their cues from the bullishness of oil traders. In fact, it’s hard to say what crude oil traders were using to guide their decisions on Wednesday.
Why were oil traders so bullish following a fairly downbeat EIA report? You’d have to do some mental gymnastics to come up with a direct reason. The record supply glut set a new record, with global oil inventories rising to over half a billion barrels and driving up gasoline inventories as well.
Foreign output remains high, with Iran now adding more of its stockpiles and production to the world market. And with large inventories and weak demand, refineries are cutting back production.
The weak demand comes despite the low prices. Demand for gasoline is off 0.9% year on year, despite gas prices being down 25% from this time in 2015. Demand for heating oil and distillates is down a full 16%, thanks to a warm winter and weak industrial demand. That perception of industrial weakness got further proof with Monday’s weak ISM Manufacturing Index report, the fourth weak report in a row and the worst streak of manufacturing numbers since 2009.
And despite that substantial negative report, the bulls had the day in crude oil. And even though stocks ended flat, some analysts will say that crude oil’s rally had a delayed effect on stocks and caused the afternoon rally.
When crude oil’s price action doesn’t even seem to have a logical connection to the latest supply and demand report, is it reasonable to think that stock traders are tying their decisions to such an emotional and unpredictable market?
Stock traders aren’t showing much consistency in their reactions to the news, themselves. The recent earnings reports were overall positive among S&P 500 companies, indicating that US businesses continue to be profitable. Yet some are pointing to earnings per share as a problem sign. A report from Goldman Sachs even said that profit margins are too high and if they don’t go down and revert to the mean, they believe it raises questions about “the efficacy of capitalism” itself.
It is a time when short-term traders who simply watch price movement tend to have an advantage. On Nadex, binary option and spread traders can trade the ups and downs without speculating on the whys and wherefores. Sometimes that is best left to the analysts. For traders, explaining the move isn’t nearly as important as trading it.
This information has been prepared by Nadex, a trading name of North American Derivatives Exchange, Inc., prepared by independent third parties contracted by Nadex or reproduced form third party news agencies. In addition to the disclaimer below, the material on this page does not contain an offer of, or solicitation for, a transaction in any financial instrument. Nadex accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication.
See more from Benzinga
• New Ways To Trade China, Crude Oil And The Fed
• Bitcoin Is Thriving As Stock Markets Dive
• The Simple Reason This Market Drop Makes Sense
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || A bunch of hedge fund managers are chasing the 'dream of crushing a major structural problem': William Ackman, founder and CEO of hedge fund Pershing Square Capital Management, speaks during the Sohn Investment Conference in New York May 4, 2015. REUTERS/Brendan McDermid (Thomson Reuters) William Ackman, founder and CEO of hedge fund Pershing Square Capital Management, speaks during the Sohn Investment Conference in New York Finance Insider is Business Insider's midday summary of the top stories of the past 24 hours. To sign up, scroll to the bottom of this page and click "Get updates in your inbox," or click here. Wall Street already has a trade of the year. Everyone from Bill Ackman to David Tepper to Kyle Bass is betting against the Chinese yuan. The shorts seem to be everywhere. "Clearly a bunch of smart guys are chasing the [John] Paulson 2008 dream of crushing a major structural problem in the market," said Tim Seymour of Triogem Management. In bank news, Goldman Sachs CEO Lloyd Blankfein today made his first TV appearance after 600 hours of chemotherapy . He said he can easily explain what's going on in the equity market right now. The rest of the market, not so much. The bank just announced a big shake-up, with lots of people moving role. Most notably, Jim Esposito, who was cohead of the global-financing group, will join the securities division as chief strategy officer. To read about him, click here. To read about what his appointment means, click here. In other news, an 18-year-old tennis player once sponsored by billionaire hedge fund manager Bill Ackman pulled off a pretty impressive trick shot to win a point in the RBC Tennis Championships of Dallas. And Uber will let you order a puppy squad to your office . Here are the top Wall Street headlines at midday: We just got terrible news about the most important part of the US economy - The services sector is slowing down. A kid in Bill Gross' high school nicknamed 'God of Thunder' eventually fell on hard times - Bill Gross had a big kid in his high school class. Chipotle's disastrous 2015 explained in one chart - Fewer customers see it as a healthy food option. Ouch. OLIVER WYMAN: It will take 10 years for the tech behind bitcoin to break big in finance - Blockchain database technology, which underpins digital cryptocurrencies such as Bitcoin, has got finance industry executives very excited. Story continues Pack your bags, Wall Streeters: Your jobs are moving to Nashville - UBS has a plan to move about 2,500 jobs to low-cost locations such as Poland, India, China, and Nashville, Tennessee, over the next year. Yes, Nashville. A Bill Gates-backed startup that wants to edit your genes just raised nearly $100 million - Editas became the first company to price an initial public offering in the US in 2016. More From Business Insider What you need to know on Wall Street today Hedge fund traders found a new way to pass on inside information WHAT YOU NEED TO KNOW ON WALL STREET: The Steph Curry effect || A bunch of hedge fund managers are chasing the 'dream of crushing a major structural problem': (Thomson Reuters)William Ackman, founder and CEO of hedge fund Pershing Square Capital Management, speaks during the Sohn Investment Conference in New YorkFinance Insider is Business Insider's midday summary of the top stories of the past 24 hours.
To sign up, scroll to the bottom of this page and click "Get updates in your inbox," orclick here.
Wall Street already has a trade of the year.
Everyone from Bill Ackman to David Tepper to Kyle Bass is betting against the Chinese yuan.The shorts seem to be everywhere.
"Clearly a bunch of smart guys are chasing the [John] Paulson 2008 dream of crushing a major structural problem in the market," said Tim Seymour of Triogem Management.
In bank news,Goldman Sachs CEO Lloyd Blankfein today made his firstTV appearance after 600 hours of chemotherapy. He said he can easily explain what's going on in the equity market right now.The rest of the market, not so much.
The bank just announced a big shake-up,with lots of people moving role.Most notably,Jim Esposito, who was cohead of the global-financing group, will join the securities division as chief strategy officer.To read about him,click here.To read about what his appointment means,click here.
In other news, an18-year-old tennis player once sponsored by billionaire hedge fund manager Bill Ackmanpulled off a pretty impressive trick shot to win a pointintheRBC Tennis Championships of Dallas.
AndUber will let you ordera puppy squad to your office.
Here are the top Wall Street headlines at midday:
We just got terrible news about the most important part of the US economy-The services sector is slowing down.
A kid in Bill Gross' high school nicknamed 'God of Thunder' eventually fell on hard times-Bill Gross had a big kid in his high school class.
Chipotle's disastrous 2015 explained in one chart-Fewer customers see it as a healthy food option. Ouch.
OLIVER WYMAN: It will take 10 years for the tech behind bitcoin to break big in finance-Blockchain database technology, which underpins digital cryptocurrencies such as Bitcoin, has got finance industry executives very excited.
Pack your bags, Wall Streeters: Your jobs are moving to Nashville- UBS has a plan to move about 2,500 jobs to low-cost locations such as Poland, India, China, and Nashville, Tennessee, over the next year. Yes, Nashville.
A Bill Gates-backed startup that wants to edit your genes just raised nearly $100 million-Editas became the first company to price an initial public offering in the US in 2016.
More From Business Insider
• What you need to know on Wall Street today
• Hedge fund traders found a new way to pass on inside information
• WHAT YOU NEED TO KNOW ON WALL STREET: The Steph Curry effect || What to Expect from Overstock.com's (OSTK) Q4 Earnings?: Overstock.com Inc. OSTK is expected to report fourth-quarter 2015 results after the closing bell on Feb 4. Overstock.com is an online closeout retailer that sells brand-name merchandise at deep discounts. The offerings include bed-and-bath goods, kitchenware, watches, jewelry, electronics, sporting goods and designer accessories. Overstock, a Bitcoin supporter, hopes to reinvent the public stock market using cryptosecurities, or virtual stocks based on Bitcoin's blockchain technology. Bitcoin is a digital currency platform with no central regulating authority involved in the transactions. It is also called crypto currency because it utilizes military-grade cryptography to protect users against fraud. Bitcoin and other cryptocurencies operate on blockchain which is a distributed public ledger. Cryptosecurities will likely bring the next major change in the stock market. With the SpeedRoute deal, Overstock will enter a new financial technology space. SpeedRoute’s infrastructure and underlying technologies will help the company to connect the t0 securities trading platform with the entire U.S. equity market. This will enhance transparency and efficiency of the existing capital markets, which was the basic idea behind t0.com. The blockchain technology allows investors and buyers to track down their purchases and ownership of cryptosecurities, ensuring complete transparency. Moreover, the t0.com blockchain technology facilitates same-day settlement of securities. Additionally, Overstock started the Black Friday holiday sales event a full week before the shopping holiday. This should have a favorable impact on the fourth-quarter results. Apart from this, Overstock also announced that Merrill Lynch Professional Clearing Corporation (“Merrill Pro”), the last defendant remaining after Goldman Sachs, in Overstock.com’s longstanding market manipulation case, has settled its claims by paying $20 million to Overstock.com and its co-plaintiffs. This is likely to boost results in the to-be-reported quarter. Story continues Stocks to Consider Here are some stocks, which you may consider as they have a favorable Zacks Rank and a positive Earnings ESP and are likely to post an earnings beat this quarter: MaxLinear, Inc. MXL has an Earnings ESP of +2.94% and a Zacks Rank #1 (Strong Buy). SolarWinds, Inc. SWI has an Earnings ESP of +2.27% and a Zacks Rank #1. Fidelity National Information Services, Inc. FIS has an Earnings ESP of +2.17% and a Zacks Rank #3. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report SOLARWINDS INC (SWI): Free Stock Analysis Report MAXLINEAR INC-A (MXL): Free Stock Analysis Report FIDELITY NAT IN (FIS): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research || What to Expect from Overstock.com's (OSTK) Q4 Earnings?: Overstock.com Inc.OSTK is expected to report fourth-quarter 2015 results after the closing bell on Feb 4.
Overstock.com is an online closeout retailer that sells brand-name merchandise at deep discounts. The offerings include bed-and-bath goods, kitchenware, watches, jewelry, electronics, sporting goods and designer accessories.
Overstock, a Bitcoin supporter, hopes to reinvent the public stock market using cryptosecurities, or virtual stocks based on Bitcoin's blockchain technology. Bitcoin is a digital currency platform with no central regulating authority involved in the transactions. It is also called crypto currency because it utilizes military-grade cryptography to protect users against fraud. Bitcoin and other cryptocurencies operate on blockchain which is a distributed public ledger.
Cryptosecurities will likely bring the next major change in the stock market. With the SpeedRoute deal, Overstock will enter a new financial technology space. SpeedRoute’s infrastructure and underlying technologies will help the company to connect the t0 securities trading platform with the entire U.S. equity market. This will enhance transparency and efficiency of the existing capital markets, which was the basic idea behind t0.com.
The blockchain technology allows investors and buyers to track down their purchases and ownership of cryptosecurities, ensuring complete transparency. Moreover, the t0.com blockchain technology facilitates same-day settlement of securities.
Additionally, Overstock started the Black Friday holiday sales event a full week before the shopping holiday. This should have a favorable impact on the fourth-quarter results.
Apart from this, Overstock also announced that Merrill Lynch Professional Clearing Corporation (“Merrill Pro”), the last defendant remaining after Goldman Sachs, in Overstock.com’s longstanding market manipulation case, has settled its claims by paying $20 million to Overstock.com and its co-plaintiffs. This is likely to boost results in the to-be-reported quarter.
Stocks to Consider
Here are some stocks, which you may consider as they have a favorable Zacks Rank and a positive Earnings ESP and are likely to post an earnings beat this quarter:
MaxLinear, Inc. MXL has an Earnings ESP of +2.94% and a Zacks Rank #1 (Strong Buy).
SolarWinds, Inc. SWI has an Earnings ESP of +2.27% and a Zacks Rank #1.
Fidelity National Information Services, Inc. FIS has an Earnings ESP of +2.17% and a Zacks Rank #3.
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LATEST AND PLANNED U.S. NEWS COVERAGE (ALL TIMES ET)
Top stories as of 11:30 a.m. on Tuesday.
To find stories, search by Slug or Headline Keyword in your CMS or Advanced Search in Media Express.
For story queries, please contact us.general-news@thomsonreuters.com
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TOP STORIES
Cruz calls Iowa win a victory for 'conservative grass roots'
DES MOINES - Relishing his victory in the first Republican nominating contest of the U.S. presidential election, Senator Ted Cruz called his defeat of Donald Trump in the Iowa caucuses a tribute to "conservative grass roots." (USA-ELECTION/ (WRAPUP 5, PIX, TV, GRAPHIC), moved at 10:33 a.m., by Ginger Gibson, 636 words). See also: USA-ELECTION/TRUMP (PIX, TV), moved at 7 a.m., by Steve Holland, 765 words and USA-ELECTION/RUBIO (PIX), moved at 7 a.m., by James Oliphant, 586 words)
Virtual tie raises doubts: Can Hillary Clinton close the deal?
DES MOINES, Iowa - Hillary Clinton's struggle in Iowa to fend off underdog Bernie Sanders, a self-described democratic socialist, reignited questions about her ability to close the deal with Democratic voters and turned up the pressure on her high-profile White House campaign. USA-ELECTION/DEMOCRATS (PIX, TV), moved at 7 a.m., by John Whitesides, 718 words.
FBI joins Flint, Michigan water contamination probe
WASHINGTON - The FBI is joining a U.S. criminal investigation into Flint, Michigan's water contamination crisis, a spokeswoman for the U.S. Attorney's Office in Detroit said on Tuesday. (MICHIGAN-WATER/ (UPDATE 2), moved, 599 words)
Punxsutawney Phil predicts early spring
PUNXSUTAWNEY, Pa. - Punxsutawney Phil, the Pennsylvania groundhog renowned for his ability to forecast the onset of spring, did not see his shadow after emerging from his burrow on Tuesday morning, predicting an early spring. (USA-GROUNDHOG/ (UPDATE 1, PIX, TV), moved at 7:54 a.m., 497 words)
Africa, Asia vulnerable to spread of Zika virus -WHO
GENEVA - The Zika virus linked to a microcephaly outbreak in Latin America could spread to Africa and Asia, with the world's highest birth rates, the World Health Organization warns as it launches a global response unit against the new emergency. (HEALTH-ZIKA/ (UPDATE 1, TV, PICTURE), moved, by Stephanie Nebehay, 305 words). See also: HEALTH-ZIKA/OLYMPICS, moved, 100 words and HEALTH-ZIKA/AUSTRALIA, moved, by Jane Wardell, 380 words
Nine migrants, including two babies drowned off Turkish coast- coastguard
ISTANBUL - Nine people, including two babies, are found drowned off the coast of western Turkey after a boat carrying people to Greece partly capsizes, the coast guard says. (EUROPE-MIGRANTS/TURKEY (UPDATE 1), moved, 181 words)
PM resigns as Haiti scrambles for interim government before deadline
PORT-AU-PRINCE - Haiti's prime minister has resigned, government sources said, in an attempt to clear the way for a temporary government to replace outgoing President Michel Martelly after a botched election and violent street protests last month. (HAITI-ELECTION/ (UPDATE 2, TV, PIX), moving shortly, 391 words)
Bill Cosby fighting sex assault charge in Pennsylvania court
NORRISTOWN, Pa. - Bill Cosby appeared at a suburban Philadelphia courthouse on Tuesday to fight sexual assault charges, which his lawyers say violate a decade-old agreement with a former district attorney not to prosecute the disgraced comedian. (PEOPLE-COSBY/ (UPDATE 3, PIX, TV), moved, 485 words)
CAMPAIGN
Bernie Sanders shows strong momentum on social media
NEW YORK - It may be too close to call between Democratic presidential candidates Hillary Clinton and Bernie Sanders in the Iowa caucuses on Monday but the senator from Vermont was the clear winner on social media. (USA-ELECTION/SOCIALMEDIA (UPDATE 3, PIX), moved, 370 words)
Cruz's Iowa victory could be big blow to Big Corn
NEW YORK - Ted Cruz's victory on Monday in corn-rich Iowa could represent a major blow to the nation's controversial biofuels program, reflecting its waning influence over politicians even in the U.S. farming heartland. (USA-ELECTION/ETHANOL (UPDATE 1, PIX), moved, 670 words)
WASHINGTON
Pentagon's 2017 budget reshapes spending amid changing security environment
WASHINGTON - Defense Secretary Ash Carter said on Tuesday the Pentagon would seek a $582.7 billion defense budget next year and reshape its spending priorities to reflect a new strategic environment marked by Russian assertiveness and the rise of Islamic State. (USA-DEFENSE/BUDGET (UPDATE 1, PIX, TV), moving shortly, 404 words)
U.S. military leaders: women should have to register for draft
WASHINGTON - U.S. armed forces leaders said on Tuesday that women should be required to register for the military draft, along with men, as the military moves toward integrating them fully into combat positions. (USA-MILITARY/WOMEN (UPDATE 1, PIX), moved, 390 words)
IS pushed back in Iraq, Syria, but a threat in Libya -Kerry
ROME - An international coalition is pushing back Islamic State militants in their Syrian and Iraqi strongholds but the group is threatening Libya and could seize the nation's oil wealth, U.S Secretary of State John Kerry says. (MIDEAST-CRISIS/COALITION (UPDATE 1, PICTURE, TV), moved, by Arshad Mohammed, 590 words). See also: MIDEAST-CRISIS/IRAQ-IS (INSIGHT, PICTURE), moved, by Samia Nakhoul, 1,515 words
New European, U.S. data transfer pact imminent - sources
BRUSSELS - European and U.S. negotiators are on the brink of clinching a new transatlantic data transfer pact which should prevent EU regulators from restricting data transfers by firms, two people familiar with the talks say. (EU-DATAPROTECTION/USA (EXCLUSIVE, UPDATE 2), moved, by Julia Fioretti, 525 words)
China defends law enforcers as U.S. calls for clarity on booksellers
BEIJING/WASHINGTON - China's Foreign Ministry says its law enforcement officials will never do anything illegal, especially not overseas, after the United States calls on China to clarify the status of five missing Hong Kong booksellers. (HONGKONG-BOOKSELLERS/USA (UPDATE 1, TV), moved at 5 a.m., 430 words)
OTHER U.S. NEWS
Leader of Oregon occupation to appear in court
PORTLAND, Ore. - Ammon Bundy, who led a group of armed protesters in the occupation of a wildlife refuge in remote Oregon, will appear in federal court in Portland where his attorneys will argue that he should be released on bail ahead of his trial. (OREGON-MILITIA/COURT, expect by 3 p.m. 400 words)
White Michigan ex-cop to be sentenced in beating of black motorist
DETROIT - A white former suburban Detroit police officer is scheduled to be sentenced on Tuesday for the beating last year of a black motorist during a traffic stop caught on video. (MICHIGAN-POLICE/SENTENCE, moved at 9:28 a.m., 221 words, will be led)
Controversial Detroit school manager to step down this month
DETROIT - Detroit Public Schools' emergency manager Darnell Earley is stepping down later this month, Michigan Governor Rick Snyder said on Tuesday. (DETROIT-EDUCATION/ (UPDATE 1), moving shortly, about 400 words)
Ferguson, Mo., to hear from public on proposed justice reforms
FERGUSON - Residents of Ferguson, Missouri, which has a proposed agreement with the U.S. Justice Department to reform its police department after the 2014 shooting by a white officer of a black teenager, will voice their opinions on the deal at a meeting on Tuesday night. (MISSOURI-FERGUSON/, moved at 1019 am ET, 270 words)
Georgia to execute its oldest death row inmate for 1979 murder
ATLANTA - A 72-year-old man convicted of murdering a convenience store manager in a 1979 robbery in Atlanta's suburbs is set to be executed on Tuesday in Georgia. (USA-EXECUTION/GEORGIA (PIX), moved at 7 a.m., 281 words)
Three teenagers arrested in fatal shooting at Seattle homeless camp
-- Three teenagers were arrested on Monday in connection with a shooting at a Seattle homeless encampment where two people were killed and three wounded, police said. (SEATTLE-SHOOTING/, moved, 181 words)
Teacher arrested in Southern California jail escape freed
LOS ANGELES - A teacher arrested in connection with the escape of three inmates from a Southern California jail was freed from custody on Monday after prosecutors said they did not have enough evidence to charge her with a crime. (CALIFORNIA-ESCAPE/ (UPDATE 1), moved at 11:45 p.m., 383 words)
SUPER BOWL
Super models, super heroes add up to Super strange Media Day
SAN JOSE - Media Day was transformed into Opening Night for Super Bowl 50 but the switch to prime time did nothing to change the zany tone as super models and super heroes mingled with giants of sports journalism. (NFL-SUPERBOWL/MEDIA (PIX), moved at 2:15 a.m., 397 words)
Newton shows serious side at media night
SAN JOSE - Cam Newton became known for his on field celebrations during the Carolina Panthers march to Super Bowl 50, but the quarterback says preparation is what brings him real joy. (NFL-SUPERBOWL/NEWTON (PIX), moved at 2:20 a.m., 368 words)
Broncos' Manning says no decision yet on retirement
SAN JOSE - Denver Broncos quarterback Peyton Manning said on Monday he has not yet decided whether he will retire following Super Bowl 50 and that he is strictly focused on winning his second NFL championship. (NFL-SUPERBOWL/MANNING (PIX), moved, 360 words)
MIDDLE EAST
Syrian army threatens to encircle Aleppo as talks falter
BEIRUT/AMMAN/GENEVA - A Syrian military offensive backed by heavy Russian air strikes threatened to cut critical rebel supply lines into the northern city of Aleppo on Tuesday while the warring sides said peace talks had not started despite a U.N. statement they had. (MIDEAST-CRISIS/SYRIA (WRAPUP 3, TV, PICTURE), moved, by Tom Perry, Suleiman Al-Khalidi and John Irish, 1,059 words)
Iraqis running out of food and medicine in besieged Falluja
BAGHDAD - Tens of thousands of trapped Iraqi civilians are running out of food and medicine in the western city of Falluja, an Islamic State stronghold under siege by security forces. (MIDEAST-CRISIS/IRAQ-FALLUJA (UPDATE 2), expect by 1530 GMT/10,30 AM ET, by Stephen Kalin, 900 words)
Jordan needs international help over refugee crisis-King Abdullah
LONDON - King Abdullah says Jordan needs long-term aid from the international community to cope with a huge influx of Syrian refugees, warning that unless it received support the "dam is going to burst". (MIDEAST-CRISIS/JORDAN, moved, 320 words)
WORLD
Proposal unveiled to keep Britain in EU, sceptics unmoved
LONDON/BRUSSELS - European Council President Donald Tusk presents proposals for keeping Britain in the European Union to a mixed response, underlining the challenges Prime Minister David Cameron faces to win over his people and other EU leaders. (BRITAIN-EU/ (UPDATE 4, PICTURE), expect by 1530 GMT/10.30 AM ET, by Elizabeth Piper and Jan Strupczewski, 900 words)
Socialists ready to lead talks to form government in Spain
MADRID - The leader of Spain's Socialists offers to lead talks between parties to form a government in a bid to break political deadlock and avoid a new national election in the next few months. (SPAIN-POLITICS/ (UPDATE 2, PICTURE, TV), expect by 1900 GMT/2 PM ET, by Julien Toyer and Blanca Rodriguez, 500 words)
Cuba open for business, ministers tell French executives
PARIS - Cuba seeks to drum up foreign investment as ministers on a state visit to Paris promise French business leaders that the Communist-run country is open for business. (CUBA-FRANCE/, moved, 280 words)
China's nuclear envoy in North Korea amid sanctions push
SEOUL - China's envoy for the North Korean nuclear issue arrives in the capital, Pyongyang, the North's KCNA news agency reports, amid a push by the United States and South Korea for tougher sanctions on the North after its fourth nuclear test. (NORTHKOREA-NUCLEAR/CHINA, moved, 370 words)
EU to step up checks on Bitcoin, prepaid cards to fight terrorism
BRUSSELS - The European Commission will propose by the end of June stricter rules on prepaid cards and virtual currencies in a bid to reduce anonymous payments and curb the financing of terrorism, documents released show. (EU-TERRORISM/FINANCING (PICTURE), moved, by Francesco Guarascio, 464 words)
North Norea notifies IMO of planned satellite launch
SEOUL - North Korea has notified the International Maritime Organization of plans to launch a satellite between Feb. 8 and Feb. 25, South Korea's Yonhap News Agency reported late on Tuesday. (NORTHKOREA-SATELLITE/ (UPDATE 1), moving shortly, 150 words)
Australia PM weighs early poll to break political deadlock
SYDNEY - Australian Prime Minister Malcolm Turnbull raises the possibility of dissolving both houses of Parliament and calling an early election to break a political deadlock that has stymied the government, say government officials aware of the matter. (AUSTRALIA-POLITICS/ELECTION, moved, 430 words)
India's Supreme Court will review law criminalising gay sex
NEW DELHI - India's top court says it will review a decision over whether to uphold a colonial-era law that criminalises gay sex in a victory for homosexual rights campaigners at a time when the nation is navigating a path between tradition and modernity. (INDIA-COURT/ (UPDATE 2, PICTURE, TV), moved, by Aditya Kalra and Andrew MacAskill, 410 words)
HEALTH AND SCIENCE
Long shifts for young surgeons don't threaten patient safety
-- Controversial rules that limit the hours young surgeons can work while in training aren't needed to protect patient safety, a nationwide experiment finds. (HEALTH-SURGERY/RESIDENT-HOURS, moved, 753 words)
ENTERTAINMENT AND LIFESTYLE
Britain's James Corden to host 2016 Tony Awards
NEW YORK - British actor James Corden will host the Tony Awards for theater for the first time at a ceremony in New York in June, organizers announced on Tuesday. (AWARDS-TONYS, moved, 186 words)
Baggy but futuristic looks kick off NY men's fashion week
NEW YORK - Following a successful debut in July, New York hosts its second menswear fashion week, with dozens of established fashion names as well as new designers showcasing their autumn/winter offerings - from slick suits to more casual wear. (FASHION-NEWYORK/MEN (TV), expect by noon, 238 words)
CONSUMER TECH
Spin-off or sale? Yahoo turnaround plan in focus as earnings awaited
SAN FRANCISCO - Yahoo Inc's plans to turn around its struggling core business are set to dominate its earnings report after the bell on Tuesday, with investors keen to see if CEO Marissa Mayer will push ahead with a proposed spin-off or entertain calls for a complete sale. (YAHOO-RESULTS/PREVIEW, moved at 7 a.m., 355 words)
Lower costs nudge Nintendo's profit higher
TOKYO - Japan's Nintendo reported a 5.3 percent increase in third-quarter operating profit, in line with analysts forecasts, as lower costs helped offset a decline in overall sales. (NINTENDO-RESULTS/, moved at 2:30 a.m., 134 words)
BUSINESS TRENDS
Fearing lean times, U.S. companies tighten purse strings
NEW YORK - The capital spending slump that originated in the hard-hit energy sector appears to be spreading more widely across other U.S. industries. (USA-RESULTS/CAPEX (ANALYSIS), moved, 600 words)
A new global oil deal could draw lessons from 1998
LONDON - After a year of secret diplomacy and hushed-up private talks around the world, OPEC's mighty Saudi Arabia and rival Venezuela were persuaded to cut a deal by non-OPEC Mexico which overcame mutual acrimony and led to a much-needed rise in oil prices. (OPEC-RUSSIA/DEAL (ANALYSIS, PIX), moved, 1,345 words) See also: GLOBAL-OIL/ (UPDATE 6), moved, 365 words
BUSINESS AND MARKETS
ChemChina close to striking deal for Syngenta -sources
China's state-owned ChemChina is nearing a deal to buy Swiss seeds and pesticides group Syngenta for $42.2 billion, two people familiar with the matter say, two people familiar with the matter say. (SYNGENTA AG-M&A/CHEMCHINA (UPDATE 3), moved, Arno Schuetze and Pamela Barbaglia, 350 words)
Exxon's profit tumbles 58 percent, slashes capex by one-quarter
Exxon Mobil Corp reports its smallest quarterly profit in more than a decade and says it will cut 2015 spending by one-quarter and suspend share repurchases as it copes with a prolonged downturn in crude prices. (EXXON MOBIL-RESULTS/ (UPDATE 2), moved, by Anna Driver, 340 words)
GM January U.S. sales up slightly, Ford's down
DETROIT - U.S. auto sales appeared to fare better than expected in January, early returns show, as the industry benefited from low gasoline prices, easy credit and moderate economic growth. (USA-AUTOS/ (UPDATE 2), moved, Bernie Woodall, 410 words)
Dow Chemical CEO Liveris to step down by mid-2017
Dow Chemical Co Chief Executive Andrew Liveris said he will retire from the company by mid-2017, months after activist investor Daniel Loeb called upon him to step down from the company, which is merging with rival DuPont. (DOW-RESULTS/ (UPDATE 4), moving shortly, by Amrutha Gayathri and Swetha Gopinath, 400 words)
Stocks snap winning streak as oil pressure returns
LONDON - World stocks end three days of gains as lackluster global economic data lead to another slump in oil prices. (GLOBAL-MARKETS/ (WRAPUP 5), updated throughout the day, 600 words). See also: USA-STOCKS/ (UPDATE 3), updated throughout the day, 460 words)
Oil slides more than 5 percent as hopes for output cut fade
LONDON - Brent oil falls more than 5 percent, while U.S. crude slides below $30 per barrel, on worries about future demand and rising supply, while hopes for a deal between OPEC and Russia on output cuts fade. (GLOBAL-OIL/ (UPDATE 9), updated throughout the day, 460 words)
Low metals prices sink zinc producer Horsehead Holding Corp
WILMINGTON, Del. - U.S. zinc miner Horsehead Holding Corp files for bankruptcy protection, becoming the latest victim of a commodity price crash that has claimed scores of U.S. energy exploration companies, miners and metals producers. (HORSEHEAD HLDG-BANKRUPTCY/, moved, by Tom Hals, 320 words)
Argentina says reaches provisional debt deal with Italian creditors
BUENOS AIRES - Argentina has reached a preliminary deal with a group of Italian creditors who hold 30 percent of unpaid sovereign debt stemming from Argentina's record $100 billion default in 2002, Finance Minister Alfonso Prat-Gay says. (ARGENTINA-DEBT/ (UPDATE 1), moving shortly, 300 words)
Brazil industrial output plunges 8 percent in 2015
BRASILIA - Industrial output in Brazil fell for a seventh straight month in December, capping the worst year for manufacturers in more than a decade as they struggle with inflation, high interest rates and political uncertainty. (BRAZIL ECONOMY/INDUSTRY (UPDATE 1), moved, by Silvio Cascione, 300 words)
German jobless rate falls to lowest on record
BERLIN - German unemployment fell more sharply than expected in January and the jobless rate dropped to a record low, suggesting private consumption will help offset a slowdown in emerging markets to keep growth in Europe's largest economy steady. (GERMANY-ECONOMY/UNEMPLOYMENT (UPDATE 1), moved, 290 words)
Alphabet overtakes Apple in market value - for now
Alphabet Inc might win the market cap battle against Apple Inc, but will it win the war? Maybe not. (APPLE-ALPHABET/RESEARCH (UPDATE 1), moved, by Sayantani Ghosh and Supantha Mukherjee, 510 words)
Pfizer 2016 forecasts disappoint; shares fall
U.S. drugmaker Pfizer Inc forecasts 2016 revenue and earnings below analysts' estimates, largely because of the strong dollar. (PFIZER-RESULTS/ (UPDATE 3), moved, 350 words)
UPS fourth-quarter profit surges, gives robust outlook
CHICAGO - United Parcel Service Inc reports a significantly higher quarterly net profit on a solid holiday season performance and gives a solid earnings outlook for 2016 despite warning of uncertain economic conditions. (UPS-RESULTS/ (UPDATE 1), moved, 330 words)
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For story queries, please contact us.general- news@thomsonreuters.com
For photo queries use USCanada-Pictures-Editors@thomsonreuters.com) ***************** || REUTERS AMERICA NEWS PLAN FOR TUESDAY FEB 2: REUTERS AMERICA MIDDAY NEWS PLAN FOR TUESDAY FEB 2 LATEST AND PLANNED U.S. NEWS COVERAGE (ALL TIMES ET) Top stories as of 11:30 a.m. on Tuesday. To find stories, search by Slug or Headline Keyword in your CMS or Advanced Search in Media Express. For story queries, please contact us.general-news@thomsonreuters.com For photo queries use USCanada-Pictures-Editors@thomsonreuters.com TOP STORIES Cruz calls Iowa win a victory for 'conservative grass roots' DES MOINES - Relishing his victory in the first Republican nominating contest of the U.S. presidential election, Senator Ted Cruz called his defeat of Donald Trump in the Iowa caucuses a tribute to "conservative grass roots." (USA-ELECTION/ (WRAPUP 5, PIX, TV, GRAPHIC), moved at 10:33 a.m., by Ginger Gibson, 636 words). See also: USA-ELECTION/TRUMP (PIX, TV), moved at 7 a.m., by Steve Holland, 765 words and USA-ELECTION/RUBIO (PIX), moved at 7 a.m., by James Oliphant, 586 words) Virtual tie raises doubts: Can Hillary Clinton close the deal? DES MOINES, Iowa - Hillary Clinton's struggle in Iowa to fend off underdog Bernie Sanders, a self-described democratic socialist, reignited questions about her ability to close the deal with Democratic voters and turned up the pressure on her high-profile White House campaign. USA-ELECTION/DEMOCRATS (PIX, TV), moved at 7 a.m., by John Whitesides, 718 words. FBI joins Flint, Michigan water contamination probe WASHINGTON - The FBI is joining a U.S. criminal investigation into Flint, Michigan's water contamination crisis, a spokeswoman for the U.S. Attorney's Office in Detroit said on Tuesday. (MICHIGAN-WATER/ (UPDATE 2), moved, 599 words) Punxsutawney Phil predicts early spring PUNXSUTAWNEY, Pa. - Punxsutawney Phil, the Pennsylvania groundhog renowned for his ability to forecast the onset of spring, did not see his shadow after emerging from his burrow on Tuesday morning, predicting an early spring. (USA-GROUNDHOG/ (UPDATE 1, PIX, TV), moved at 7:54 a.m., 497 words) Story continues Africa, Asia vulnerable to spread of Zika virus -WHO GENEVA - The Zika virus linked to a microcephaly outbreak in Latin America could spread to Africa and Asia, with the world's highest birth rates, the World Health Organization warns as it launches a global response unit against the new emergency. (HEALTH-ZIKA/ (UPDATE 1, TV, PICTURE), moved, by Stephanie Nebehay, 305 words). See also: HEALTH-ZIKA/OLYMPICS, moved, 100 words and HEALTH-ZIKA/AUSTRALIA, moved, by Jane Wardell, 380 words Nine migrants, including two babies drowned off Turkish coast- coastguard ISTANBUL - Nine people, including two babies, are found drowned off the coast of western Turkey after a boat carrying people to Greece partly capsizes, the coast guard says. (EUROPE-MIGRANTS/TURKEY (UPDATE 1), moved, 181 words) PM resigns as Haiti scrambles for interim government before deadline PORT-AU-PRINCE - Haiti's prime minister has resigned, government sources said, in an attempt to clear the way for a temporary government to replace outgoing President Michel Martelly after a botched election and violent street protests last month. (HAITI-ELECTION/ (UPDATE 2, TV, PIX), moving shortly, 391 words) Bill Cosby fighting sex assault charge in Pennsylvania court NORRISTOWN, Pa. - Bill Cosby appeared at a suburban Philadelphia courthouse on Tuesday to fight sexual assault charges, which his lawyers say violate a decade-old agreement with a former district attorney not to prosecute the disgraced comedian. (PEOPLE-COSBY/ (UPDATE 3, PIX, TV), moved, 485 words) CAMPAIGN Bernie Sanders shows strong momentum on social media NEW YORK - It may be too close to call between Democratic presidential candidates Hillary Clinton and Bernie Sanders in the Iowa caucuses on Monday but the senator from Vermont was the clear winner on social media. (USA-ELECTION/SOCIALMEDIA (UPDATE 3, PIX), moved, 370 words) Cruz's Iowa victory could be big blow to Big Corn NEW YORK - Ted Cruz's victory on Monday in corn-rich Iowa could represent a major blow to the nation's controversial biofuels program, reflecting its waning influence over politicians even in the U.S. farming heartland. (USA-ELECTION/ETHANOL (UPDATE 1, PIX), moved, 670 words) WASHINGTON Pentagon's 2017 budget reshapes spending amid changing security environment WASHINGTON - Defense Secretary Ash Carter said on Tuesday the Pentagon would seek a $582.7 billion defense budget next year and reshape its spending priorities to reflect a new strategic environment marked by Russian assertiveness and the rise of Islamic State. (USA-DEFENSE/BUDGET (UPDATE 1, PIX, TV), moving shortly, 404 words) U.S. military leaders: women should have to register for draft WASHINGTON - U.S. armed forces leaders said on Tuesday that women should be required to register for the military draft, along with men, as the military moves toward integrating them fully into combat positions. (USA-MILITARY/WOMEN (UPDATE 1, PIX), moved, 390 words) IS pushed back in Iraq, Syria, but a threat in Libya -Kerry ROME - An international coalition is pushing back Islamic State militants in their Syrian and Iraqi strongholds but the group is threatening Libya and could seize the nation's oil wealth, U.S Secretary of State John Kerry says. (MIDEAST-CRISIS/COALITION (UPDATE 1, PICTURE, TV), moved, by Arshad Mohammed, 590 words). See also: MIDEAST-CRISIS/IRAQ-IS (INSIGHT, PICTURE), moved, by Samia Nakhoul, 1,515 words New European, U.S. data transfer pact imminent - sources BRUSSELS - European and U.S. negotiators are on the brink of clinching a new transatlantic data transfer pact which should prevent EU regulators from restricting data transfers by firms, two people familiar with the talks say. (EU-DATAPROTECTION/USA (EXCLUSIVE, UPDATE 2), moved, by Julia Fioretti, 525 words) China defends law enforcers as U.S. calls for clarity on booksellers BEIJING/WASHINGTON - China's Foreign Ministry says its law enforcement officials will never do anything illegal, especially not overseas, after the United States calls on China to clarify the status of five missing Hong Kong booksellers. (HONGKONG-BOOKSELLERS/USA (UPDATE 1, TV), moved at 5 a.m., 430 words) OTHER U.S. NEWS Leader of Oregon occupation to appear in court PORTLAND, Ore. - Ammon Bundy, who led a group of armed protesters in the occupation of a wildlife refuge in remote Oregon, will appear in federal court in Portland where his attorneys will argue that he should be released on bail ahead of his trial. (OREGON-MILITIA/COURT, expect by 3 p.m. 400 words) White Michigan ex-cop to be sentenced in beating of black motorist DETROIT - A white former suburban Detroit police officer is scheduled to be sentenced on Tuesday for the beating last year of a black motorist during a traffic stop caught on video. (MICHIGAN-POLICE/SENTENCE, moved at 9:28 a.m., 221 words, will be led) Controversial Detroit school manager to step down this month DETROIT - Detroit Public Schools' emergency manager Darnell Earley is stepping down later this month, Michigan Governor Rick Snyder said on Tuesday. (DETROIT-EDUCATION/ (UPDATE 1), moving shortly, about 400 words) Ferguson, Mo., to hear from public on proposed justice reforms FERGUSON - Residents of Ferguson, Missouri, which has a proposed agreement with the U.S. Justice Department to reform its police department after the 2014 shooting by a white officer of a black teenager, will voice their opinions on the deal at a meeting on Tuesday night. (MISSOURI-FERGUSON/, moved at 1019 am ET, 270 words) Georgia to execute its oldest death row inmate for 1979 murder ATLANTA - A 72-year-old man convicted of murdering a convenience store manager in a 1979 robbery in Atlanta's suburbs is set to be executed on Tuesday in Georgia. (USA-EXECUTION/GEORGIA (PIX), moved at 7 a.m., 281 words) Three teenagers arrested in fatal shooting at Seattle homeless camp -- Three teenagers were arrested on Monday in connection with a shooting at a Seattle homeless encampment where two people were killed and three wounded, police said. (SEATTLE-SHOOTING/, moved, 181 words) Teacher arrested in Southern California jail escape freed LOS ANGELES - A teacher arrested in connection with the escape of three inmates from a Southern California jail was freed from custody on Monday after prosecutors said they did not have enough evidence to charge her with a crime. (CALIFORNIA-ESCAPE/ (UPDATE 1), moved at 11:45 p.m., 383 words) SUPER BOWL Super models, super heroes add up to Super strange Media Day SAN JOSE - Media Day was transformed into Opening Night for Super Bowl 50 but the switch to prime time did nothing to change the zany tone as super models and super heroes mingled with giants of sports journalism. (NFL-SUPERBOWL/MEDIA (PIX), moved at 2:15 a.m., 397 words) Newton shows serious side at media night SAN JOSE - Cam Newton became known for his on field celebrations during the Carolina Panthers march to Super Bowl 50, but the quarterback says preparation is what brings him real joy. (NFL-SUPERBOWL/NEWTON (PIX), moved at 2:20 a.m., 368 words) Broncos' Manning says no decision yet on retirement SAN JOSE - Denver Broncos quarterback Peyton Manning said on Monday he has not yet decided whether he will retire following Super Bowl 50 and that he is strictly focused on winning his second NFL championship. (NFL-SUPERBOWL/MANNING (PIX), moved, 360 words) MIDDLE EAST Syrian army threatens to encircle Aleppo as talks falter BEIRUT/AMMAN/GENEVA - A Syrian military offensive backed by heavy Russian air strikes threatened to cut critical rebel supply lines into the northern city of Aleppo on Tuesday while the warring sides said peace talks had not started despite a U.N. statement they had. (MIDEAST-CRISIS/SYRIA (WRAPUP 3, TV, PICTURE), moved, by Tom Perry, Suleiman Al-Khalidi and John Irish, 1,059 words) Iraqis running out of food and medicine in besieged Falluja BAGHDAD - Tens of thousands of trapped Iraqi civilians are running out of food and medicine in the western city of Falluja, an Islamic State stronghold under siege by security forces. (MIDEAST-CRISIS/IRAQ-FALLUJA (UPDATE 2), expect by 1530 GMT/10,30 AM ET, by Stephen Kalin, 900 words) Jordan needs international help over refugee crisis-King Abdullah LONDON - King Abdullah says Jordan needs long-term aid from the international community to cope with a huge influx of Syrian refugees, warning that unless it received support the "dam is going to burst". (MIDEAST-CRISIS/JORDAN, moved, 320 words) WORLD Proposal unveiled to keep Britain in EU, sceptics unmoved LONDON/BRUSSELS - European Council President Donald Tusk presents proposals for keeping Britain in the European Union to a mixed response, underlining the challenges Prime Minister David Cameron faces to win over his people and other EU leaders. (BRITAIN-EU/ (UPDATE 4, PICTURE), expect by 1530 GMT/10.30 AM ET, by Elizabeth Piper and Jan Strupczewski, 900 words) Socialists ready to lead talks to form government in Spain MADRID - The leader of Spain's Socialists offers to lead talks between parties to form a government in a bid to break political deadlock and avoid a new national election in the next few months. (SPAIN-POLITICS/ (UPDATE 2, PICTURE, TV), expect by 1900 GMT/2 PM ET, by Julien Toyer and Blanca Rodriguez, 500 words) Cuba open for business, ministers tell French executives PARIS - Cuba seeks to drum up foreign investment as ministers on a state visit to Paris promise French business leaders that the Communist-run country is open for business. (CUBA-FRANCE/, moved, 280 words) China's nuclear envoy in North Korea amid sanctions push SEOUL - China's envoy for the North Korean nuclear issue arrives in the capital, Pyongyang, the North's KCNA news agency reports, amid a push by the United States and South Korea for tougher sanctions on the North after its fourth nuclear test. (NORTHKOREA-NUCLEAR/CHINA, moved, 370 words) EU to step up checks on Bitcoin, prepaid cards to fight terrorism BRUSSELS - The European Commission will propose by the end of June stricter rules on prepaid cards and virtual currencies in a bid to reduce anonymous payments and curb the financing of terrorism, documents released show. (EU-TERRORISM/FINANCING (PICTURE), moved, by Francesco Guarascio, 464 words) North Norea notifies IMO of planned satellite launch SEOUL - North Korea has notified the International Maritime Organization of plans to launch a satellite between Feb. 8 and Feb. 25, South Korea's Yonhap News Agency reported late on Tuesday. (NORTHKOREA-SATELLITE/ (UPDATE 1), moving shortly, 150 words) Australia PM weighs early poll to break political deadlock SYDNEY - Australian Prime Minister Malcolm Turnbull raises the possibility of dissolving both houses of Parliament and calling an early election to break a political deadlock that has stymied the government, say government officials aware of the matter. (AUSTRALIA-POLITICS/ELECTION, moved, 430 words) India's Supreme Court will review law criminalising gay sex NEW DELHI - India's top court says it will review a decision over whether to uphold a colonial-era law that criminalises gay sex in a victory for homosexual rights campaigners at a time when the nation is navigating a path between tradition and modernity. (INDIA-COURT/ (UPDATE 2, PICTURE, TV), moved, by Aditya Kalra and Andrew MacAskill, 410 words) HEALTH AND SCIENCE Long shifts for young surgeons don't threaten patient safety -- Controversial rules that limit the hours young surgeons can work while in training aren't needed to protect patient safety, a nationwide experiment finds. (HEALTH-SURGERY/RESIDENT-HOURS, moved, 753 words) ENTERTAINMENT AND LIFESTYLE Britain's James Corden to host 2016 Tony Awards NEW YORK - British actor James Corden will host the Tony Awards for theater for the first time at a ceremony in New York in June, organizers announced on Tuesday. (AWARDS-TONYS, moved, 186 words) Baggy but futuristic looks kick off NY men's fashion week NEW YORK - Following a successful debut in July, New York hosts its second menswear fashion week, with dozens of established fashion names as well as new designers showcasing their autumn/winter offerings - from slick suits to more casual wear. (FASHION-NEWYORK/MEN (TV), expect by noon, 238 words) CONSUMER TECH Spin-off or sale? Yahoo turnaround plan in focus as earnings awaited SAN FRANCISCO - Yahoo Inc's plans to turn around its struggling core business are set to dominate its earnings report after the bell on Tuesday, with investors keen to see if CEO Marissa Mayer will push ahead with a proposed spin-off or entertain calls for a complete sale. (YAHOO-RESULTS/PREVIEW, moved at 7 a.m., 355 words) Lower costs nudge Nintendo's profit higher TOKYO - Japan's Nintendo reported a 5.3 percent increase in third-quarter operating profit, in line with analysts forecasts, as lower costs helped offset a decline in overall sales. (NINTENDO-RESULTS/, moved at 2:30 a.m., 134 words) BUSINESS TRENDS Fearing lean times, U.S. companies tighten purse strings NEW YORK - The capital spending slump that originated in the hard-hit energy sector appears to be spreading more widely across other U.S. industries. (USA-RESULTS/CAPEX (ANALYSIS), moved, 600 words) A new global oil deal could draw lessons from 1998 LONDON - After a year of secret diplomacy and hushed-up private talks around the world, OPEC's mighty Saudi Arabia and rival Venezuela were persuaded to cut a deal by non-OPEC Mexico which overcame mutual acrimony and led to a much-needed rise in oil prices. (OPEC-RUSSIA/DEAL (ANALYSIS, PIX), moved, 1,345 words) See also: GLOBAL-OIL/ (UPDATE 6), moved, 365 words BUSINESS AND MARKETS ChemChina close to striking deal for Syngenta -sources China's state-owned ChemChina is nearing a deal to buy Swiss seeds and pesticides group Syngenta for $42.2 billion, two people familiar with the matter say, two people familiar with the matter say. (SYNGENTA AG-M&A/CHEMCHINA (UPDATE 3), moved, Arno Schuetze and Pamela Barbaglia, 350 words) Exxon's profit tumbles 58 percent, slashes capex by one-quarter Exxon Mobil Corp reports its smallest quarterly profit in more than a decade and says it will cut 2015 spending by one-quarter and suspend share repurchases as it copes with a prolonged downturn in crude prices. (EXXON MOBIL-RESULTS/ (UPDATE 2), moved, by Anna Driver, 340 words) GM January U.S. sales up slightly, Ford's down DETROIT - U.S. auto sales appeared to fare better than expected in January, early returns show, as the industry benefited from low gasoline prices, easy credit and moderate economic growth. (USA-AUTOS/ (UPDATE 2), moved, Bernie Woodall, 410 words) Dow Chemical CEO Liveris to step down by mid-2017 Dow Chemical Co Chief Executive Andrew Liveris said he will retire from the company by mid-2017, months after activist investor Daniel Loeb called upon him to step down from the company, which is merging with rival DuPont. (DOW-RESULTS/ (UPDATE 4), moving shortly, by Amrutha Gayathri and Swetha Gopinath, 400 words) Stocks snap winning streak as oil pressure returns LONDON - World stocks end three days of gains as lackluster global economic data lead to another slump in oil prices. (GLOBAL-MARKETS/ (WRAPUP 5), updated throughout the day, 600 words). See also: USA-STOCKS/ (UPDATE 3), updated throughout the day, 460 words) Oil slides more than 5 percent as hopes for output cut fade LONDON - Brent oil falls more than 5 percent, while U.S. crude slides below $30 per barrel, on worries about future demand and rising supply, while hopes for a deal between OPEC and Russia on output cuts fade. (GLOBAL-OIL/ (UPDATE 9), updated throughout the day, 460 words) Low metals prices sink zinc producer Horsehead Holding Corp WILMINGTON, Del. - U.S. zinc miner Horsehead Holding Corp files for bankruptcy protection, becoming the latest victim of a commodity price crash that has claimed scores of U.S. energy exploration companies, miners and metals producers. (HORSEHEAD HLDG-BANKRUPTCY/, moved, by Tom Hals, 320 words) Argentina says reaches provisional debt deal with Italian creditors BUENOS AIRES - Argentina has reached a preliminary deal with a group of Italian creditors who hold 30 percent of unpaid sovereign debt stemming from Argentina's record $100 billion default in 2002, Finance Minister Alfonso Prat-Gay says. (ARGENTINA-DEBT/ (UPDATE 1), moving shortly, 300 words) Brazil industrial output plunges 8 percent in 2015 BRASILIA - Industrial output in Brazil fell for a seventh straight month in December, capping the worst year for manufacturers in more than a decade as they struggle with inflation, high interest rates and political uncertainty. (BRAZIL ECONOMY/INDUSTRY (UPDATE 1), moved, by Silvio Cascione, 300 words) German jobless rate falls to lowest on record BERLIN - German unemployment fell more sharply than expected in January and the jobless rate dropped to a record low, suggesting private consumption will help offset a slowdown in emerging markets to keep growth in Europe's largest economy steady. (GERMANY-ECONOMY/UNEMPLOYMENT (UPDATE 1), moved, 290 words) Alphabet overtakes Apple in market value - for now Alphabet Inc might win the market cap battle against Apple Inc, but will it win the war? Maybe not. (APPLE-ALPHABET/RESEARCH (UPDATE 1), moved, by Sayantani Ghosh and Supantha Mukherjee, 510 words) Pfizer 2016 forecasts disappoint; shares fall U.S. drugmaker Pfizer Inc forecasts 2016 revenue and earnings below analysts' estimates, largely because of the strong dollar. (PFIZER-RESULTS/ (UPDATE 3), moved, 350 words) UPS fourth-quarter profit surges, gives robust outlook CHICAGO - United Parcel Service Inc reports a significantly higher quarterly net profit on a solid holiday season performance and gives a solid earnings outlook for 2016 despite warning of uncertain economic conditions. (UPS-RESULTS/ (UPDATE 1), moved, 330 words) ***************** For story queries, please contact us.general- news@thomsonreuters.com For photo queries use USCanada-Pictures-Editors@thomsonreuters.com) ***************** || BofA, Wells Fargo & JPMorgan to Roll Out Cardless ATMs?: Individuals may soon be able to use their smart phones to withdraw cash from ATMs. According to Reuters, which cited technology website TechCrunch, banking majors Bank of America Corp. BAC and Wells Fargo & Company WFC are working to integrate Apple Inc.s AAPL Apple Pay, a mobile payment system, into their ATM network, thereby eliminating the use of plastic cards. Betty Riess, a press representative for BofA, confirmed that the company is presently developing a new cardless ATM solution, which is expected to be available in selected ATMs in Silicon Valley, San Francisco, Charlotte, New York and Boston by the end of this month. Moreover, the facility will likely be available to a larger customer base by the end of 2016. Wells Fargo, which currently supports Googles Android Pay, is considering alternative wallets for its customers. Similar to BofA, Wells Fargo is expected to offer the facility initially at limited ATMs, and expand the same to a broader network by the end of 2016. The ATMs will incorporate near-field communication or NFC technology, which will allow customers to carry out their ATM transactions through smart phone-generated PIN codes. Notably, ATM users will be able required to log in to the respective mobile wallets, and then tap their smart phones to the machines NFC point in order to confirm the transaction. Currently, half of BofAs 16,100 ATMs are already NFC-equipped. Wells Fargo, on the other hand, intends to install NFC readers in at least one-third of its total 13,000 ATMs by the end of 2016. Apart from BofA and Wells Fargo, JPMorgan Chase & Co. JPM is also headed toward rolling out cardless ATMs in 2016. At present, the company is working on a code-based system that will generate a temporary password to facilitate the transaction through its mobile banking application. Notably, such a feature prevents pass codes from being misused or stolen. This apart, BofA and JPMorgan intend to incorporate additional features like pre-setting ATM transactions, which will not only help customers save time, but also lower security concerns owing to shorter duration. Why this Change? We believe higher dependence on smart phones will help banks capitalize on the growing number of active mobile users. During fourth-quarter 2015, the active mobile user headcount at BofA and JPMorgan surged 8% and 13% year over year, respectively. At Wells Fargo, the annual tally increased 14% from 2014. Further, the strategy is in line with the industry-wide focus on right-sizing retail network to curb expenses, as well as enhance customer experience. More importantly, smart phones offer better security compared with desktops and laptops, given their relatively higher protection layers. Bottom Line In this era of digitalization, customers appetite for mobile banking encourages banks to provide sophisticated mobile banking services. Moreover, since traditional methods are gradually taking a backseat, the financial institutions are making consistent efforts to attract and retain clients by offering better digital experience amid a competitive environment. Apart from smart phones, banks are also known to have shown interest in Blockchain, the digital ledger or the underlying technology behind Bitcoin, given its significant potential to revamp the extensive and complex network of bank payments as well as settlements. Recently, JPMorgan partnered with start-up firm Digital Asset Holdings to launch a trial project that utilizes the blockchain technology. According to Financial Times, the technology will likely aid in resolving liquidity mismatches in some of the companys loan funds. Moreover, it is expected to lower cost and complexities related to trading. Notably, in Dec 2015, The Goldman Sachs Group, Inc. filed a patent application with the US Patent & Trademark Office (USPTO) Cryptographic Currency For Securities Settlement for a new cryptocurrency called SETLcoin. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days . Click to get this free report >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report JPMORGAN CHASE (JPM): Free Stock Analysis Report WELLS FARGO-NEW (WFC): Free Stock Analysis Report BANK OF AMER CP (BAC): Free Stock Analysis Report APPLE INC (AAPL): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research || BofA, Wells Fargo & JPMorgan to Roll Out Cardless ATMs?: Individuals may soon be able to use their smart phones to withdraw cash from ATMs. According to Reuters, which cited technology website TechCrunch, banking majors Bank of America Corp. BAC and Wells Fargo & Company WFC are working to integrate Apple Inc.’s AAPL Apple Pay, a mobile payment system, into their ATM network, thereby eliminating the use of plastic cards.Betty Riess, a press representative for BofA, confirmed that the company is presently developing “a new cardless ATM solution,” which is expected to be available in selected ATMs in Silicon Valley, San Francisco, Charlotte, New York and Boston by the end of this month. Moreover, the facility will likely be available to a larger customer base by the end of 2016.Wells Fargo, which currently supports Google’s Android Pay, is considering alternative wallets for its customers. Similar to BofA, Wells Fargo is expected to offer the facility initially at limited ATMs, and expand the same to a broader network by the end of 2016.The ATMs will incorporate near-field communication or “NFC” technology, which will allow customers to carry out their ATM transactions through smart phone-generated PIN codes. Notably, ATM users will be able required to log in to the respective mobile wallets, and then tap their smart phones to the machine’s NFC point in order to confirm the transaction.Currently, half of BofA’s 16,100 ATMs are already NFC-equipped. Wells Fargo, on the other hand, intends to install NFC readers in at least one-third of its total 13,000 ATMs by the end of 2016.Apart from BofA and Wells Fargo, JPMorgan Chase & Co. JPM is also headed toward rolling out cardless ATMs in 2016. At present, the company is working on a code-based system that will generate a temporary password to facilitate the transaction through its mobile banking application. Notably, such a feature prevents pass codes from being misused or stolen.This apart, BofA and JPMorgan intend to incorporate additional features like pre-setting ATM transactions, which will not only help customers save time, but also lower security concerns owing to shorter duration.Why this Change?We believe higher dependence on smart phones will help banks capitalize on the growing number of active mobile users. During fourth-quarter 2015, the active mobile user headcount at BofA and JPMorgan surged 8% and 13% year over year, respectively. At Wells Fargo, the annual tally increased 14% from 2014.Further, the strategy is in line with the industry-wide focus on right-sizing retail network to curb expenses, as well as enhance customer experience. More importantly, smart phones offer better security compared with desktops and laptops, given their relatively higher protection layers.Bottom LineIn this era of digitalization, customers’ appetite for mobile banking encourages banks to provide sophisticated mobile banking services.Moreover, since traditional methods are gradually taking a backseat, the financial institutions are making consistent efforts to attract and retain clients by offering better digital experience amid a competitive environment.Apart from smart phones, banks are also known to have shown interest in Blockchain, the “digital ledger” or the underlying technology behind Bitcoin, given its significant potential to revamp the extensive and complex network of bank payments as well as settlements.Recently, JPMorgan partnered with start-up firm Digital Asset Holdings to launch a trial project that utilizes the blockchain technology. According to Financial Times, the technology will likely aid in resolving liquidity mismatches in some of the company’s loan funds. Moreover, it is expected to lower cost and complexities related to trading.Notably, in Dec 2015, The Goldman Sachs Group, Inc. filed a patent application with the US Patent & Trademark Office (USPTO) – Cryptographic Currency For Securities Settlement – for a new cryptocurrency called SETLcoin.Want the latest recommendations from Zacks Investment Research? Today, you can download7 Best Stocks for the Next 30 Days. Click to get this free report >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportJPMORGAN CHASE (JPM): Free Stock Analysis ReportWELLS FARGO-NEW (WFC): Free Stock Analysis ReportBANK OF AMER CP (BAC): Free Stock Analysis ReportAPPLE INC (AAPL): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research || Antwerp diamond trade turns to fintech platforms: Diamonds love Antwerp.
At least, that is the official slogan of theAntwerp World Diamond Centre(AWDC), the public/private company (it's part government-owned) that oversees the diamond trade in Antwerp, Belgium, the world's leading city for buying and selling the stone. In 2014 some $59 billion worth of diamonds (in USD) were brought into or exported out of Antwerp—more than 5% of the GDP of Belgium. The AWDC serves as a watchdog for the industry, sets standards and promotes the market, and has a commercial arm that counts all the world's leading diamond dealers as members.
But lately, the global market doesn't love diamonds. Sales declined across the board last year, and Antwerp saw its own trade volume fall some 18%, from $59 billion to $48.3 billion. (AWDC points out that "competitors such as India and Israel endured much steeper declines.")
To address the diamond downturn, AWDC is turning to unlikely partners: fintech startups. It announced today a "pilot project" with San Francisco-based Uphold and Belgium-based FX4BIZ. Both are payment platforms that allow for fast and free conversion between many different currencies, including fiat and virtual currency, and commodities.
"We, as the industry’s representative organization, are always searching for new technologies and ways to distinguish ourselves from our competitors," said AWDC CEO Ari Epstein in a statement. Last year the AWDC held a diamond investment symposium with Morgan Stanley (MS), and Epstein says the two new partnerships are a result of the symposium.
For Uphold, which markets itself as a sort of cloud-money vault, this deal brings not just financial potential, but the legitimacy of a global market partner to a still-nascent platform that rebranded at the end of last year. Uphold launched in 2014 as BitReserve, and originally customers needed to deposit funds in the virtual currency bitcoin. They could convert money into dollars, pesos, francs, and other currencies or even precious metals, but they had to start in bitcoin. That is no longer the case, and Uphold dropped the "bit" from its name, seemingly to distance itself from the controversy and stigma of the digital coin.
The web site now allows for conversion into23 different fiat currencies(including dollar, euro, pound, shekel, rupee, and yen), plus four metals (silver, gold, palladium and platinum) and bitcoin. About $836 million in transactions has been moved around on Uphold, with $85 million currently held in Uphold wallets.
"Some of the legacy players in this space are very focused on specific virtual currencies," says Uphold CEO Anthony Watson, likely referring to bitcoin, "but... I predict in the next 5-10 years virtual currencies will become vertical to support vertical businesses and industries. If you look at our platform, we deal in all forms of currency. We'll support any and all types of value that the market supports."
Watson, a former chief information officer at Barclays (BCS) and then at Nike (NKE), surprised many when he left to join Bitreserve. Its founder, Halsey Minor, a founder of technology news site CNET, brought Watson on for his banking experience, then made him Uphold's CEO after only a few months. Watson has said he hopes Uphold can serve to level the financial playing field, bringing banking service to the unbanked and underbanked.
Thanks to the AWDC partnership, "We get to showcase our platform in something that hasn't been done before," he tells Yahoo Finance. As for AWDC, "They needed areal-time platform that allows for payment processing and clearing for their traders and dealers." Uphold says using its platform will save diamond traders "tens of millions of dollars each year."As a result of the partnership, Uphold is also opening a new office in Antwerp.
AWDC will encourage its member companies, which in turn have relationships with some 2,000 diamond dealers around the world, to use Uphold or FX4BIZ for their banking services, foreign exchange and money transfer services. The value proposition of these startups is that they allow for the conversion and transmission of funds much faster and cheaper than traditional wire transfer. Whether diamond traders will hop on board is a different question.
--
Daniel Roberts is a writer at Yahoo Finance, covering sports business and technology.Read more:
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Here's a sign that PayPal is embracing Bitcoin
Bitcoin industry consolidates: Why Kraken bought Coinsetter || CoinDesk's 2016 Report Suggests Bitcoin Isn't Dead Yet: While much of the press about bitcoin has been relatively negative over the past year, CoinDesk 's "State of Bitcoin and Blockchain 2016" report shows that the cryptocurrency may not be as beaten down as many believed. The report, published on January 28, showed that despite a negative image in the media, bitcoin was gaining new users and the technology has a lot of potential in the coming year. New Users While the majority of the public remains cautious about using bitcoin, the cryptocurrency has seen a marked increase in users. The number of bitcoin wallets created over the past year has doubled, and daily bitcoin transactions have risen by 50 percent. The figures don't suggest that the cryptocurrency is going to reach widespread adoption imminently, but they are a promising sign that the currency is making slow and steady progress. Related Link: New Study Shows Bitcoin Has A Long Way To Go Mining Pools Consolidate CoinDesk's report also showed that bitcoin miners had begun to consolidate, leaving only a few pools to do the majority of the processing to uncover new bitcoins. This development has been troublesome to some bitcoin supporters who say that the cryptocurrency's decentralized nature is threatened by consolidation in the mining industry as it puts the power into large firms' hands. Blockchain Troubles Ahead As bitcoin is growing in popularity, there has been a debate among supporters as to how to move forward with the growing number of transactions. Blockchain can only process between three and seven transactions per second, something that will need to change if the currency is ever to reach widespread adoption. However, the bitcoin community has struggled with how to solve this problem with some calling for increased block sizes and others saying it would be better to optimize the coin itself. In any case, many expect 2016 to be a big year in which the two sides come to a final recommendation that the entire industry can abide by. Story continues Image Credit: Public Domain See more from Benzinga Will A More PC Barbie Revive The Brand? Traditional Retailers Set Their Sights On Amazon Will Facebook's Live-Streaming Efforts Trump Twitter's Periscope? © 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || CoinDesk's 2016 Report Suggests Bitcoin Isn't Dead Yet: While much of the press about bitcoin has been relatively negative over the past year,CoinDesk's "State of Bitcoin and Blockchain 2016" report shows that the cryptocurrency may not be as beaten down as many believed. The report, published on January 28, showed that despite a negative image in the media, bitcoin was gaining new users and the technology has a lot of potential in the coming year.
New Users
While the majority of the public remains cautious about using bitcoin, the cryptocurrency has seen a marked increase in users. The number of bitcoin wallets created over the past year has doubled, and daily bitcoin transactions have risen by 50 percent. The figures don't suggest that the cryptocurrency is going to reach widespread adoption imminently, but they are a promising sign that the currency is making slow and steady progress.
Related Link:New Study Shows Bitcoin Has A Long Way To Go
Mining Pools Consolidate
CoinDesk's report also showed that bitcoin miners had begun to consolidate, leaving only a few pools to do the majority of the processing to uncover new bitcoins. This development has been troublesome to some bitcoin supporters who say that the cryptocurrency's decentralized nature is threatened by consolidation in the mining industry as it puts the power into large firms' hands.
Blockchain Troubles Ahead
As bitcoin is growing in popularity, there has been a debate among supporters as to how to move forward with the growing number of transactions. Blockchain can only process between three and seven transactions per second, something that will need to change if the currency is ever to reach widespread adoption.
However, the bitcoin community has struggled with how to solve this problem with some calling for increased block sizes and others saying it would be better to optimize the coin itself. In any case, many expect 2016 to be a big year in which the two sides come to a final recommendation that the entire industry can abide by.
Image Credit:Public Domain
See more from Benzinga
• Will A More PC Barbie Revive The Brand?
• Traditional Retailers Set Their Sights On Amazon
• Will Facebook's Live-Streaming Efforts Trump Twitter's Periscope?
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || CoinDesk's 2016 Report Suggests Bitcoin Isn't Dead Yet: While much of the press about bitcoin has been relatively negative over the past year,CoinDesk's "State of Bitcoin and Blockchain 2016" report shows that the cryptocurrency may not be as beaten down as many believed. The report, published on January 28, showed that despite a negative image in the media, bitcoin was gaining new users and the technology has a lot of potential in the coming year.
New Users
While the majority of the public remains cautious about using bitcoin, the cryptocurrency has seen a marked increase in users. The number of bitcoin wallets created over the past year has doubled, and daily bitcoin transactions have risen by 50 percent. The figures don't suggest that the cryptocurrency is going to reach widespread adoption imminently, but they are a promising sign that the currency is making slow and steady progress.
Related Link:New Study Shows Bitcoin Has A Long Way To Go
Mining Pools Consolidate
CoinDesk's report also showed that bitcoin miners had begun to consolidate, leaving only a few pools to do the majority of the processing to uncover new bitcoins. This development has been troublesome to some bitcoin supporters who say that the cryptocurrency's decentralized nature is threatened by consolidation in the mining industry as it puts the power into large firms' hands.
Blockchain Troubles Ahead
As bitcoin is growing in popularity, there has been a debate among supporters as to how to move forward with the growing number of transactions. Blockchain can only process between three and seven transactions per second, something that will need to change if the currency is ever to reach widespread adoption.
However, the bitcoin community has struggled with how to solve this problem with some calling for increased block sizes and others saying it would be better to optimize the coin itself. In any case, many expect 2016 to be a big year in which the two sides come to a final recommendation that the entire industry can abide by.
Image Credit:Public Domain
See more from Benzinga
• Will A More PC Barbie Revive The Brand?
• Traditional Retailers Set Their Sights On Amazon
• Will Facebook's Live-Streaming Efforts Trump Twitter's Periscope?
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || JPMorgan launches blockchain trial project: FT: (Reuters) - JPMorgan Chase is partnering with start-up Digital Asset Holdings to launch a trial project using blockchain technology that could reduce the cost and complexity of trading, the Financial Times reported on Sunday. The agreement comes as another sign that blockchain, which is best known as the basis of the digital currency Bitcoin, has wide-ranging applications for some of Wall Street's biggest banks. One potential use for the technology is addressing liquidity mismatches in some of JPMorgan's loan funds, the Financial Times said. “To sell a loan is a very cumbersome, time-consuming process; settlement can take weeks,” Daniel Pinto, head of JPMorgan’s investment bank, told the Financial Times. It “makes all the sense in the world" to explore blockchain's potential to improve that process. Digital Asset Holdings is run by Blythe Masters, JPMorgan's former head of commodities. (Reporting by Carl O'Donnell; Editing by Peter Cooney) View comments || JPMorgan launches blockchain trial project: FT: (Reuters) - JPMorgan Chase is partnering with start-up Digital Asset Holdings to launch a trial project using blockchain technology that could reduce the cost and complexity of trading, the Financial Times reported on Sunday. The agreement comes as another sign that blockchain, which is best known as the basis of the digital currency Bitcoin, has wide-ranging applications for some of Wall Street's biggest banks. One potential use for the technology is addressing liquidity mismatches in some of JPMorgan's loan funds, the Financial Times said. “To sell a loan is a very cumbersome, time-consuming process; settlement can take weeks,” Daniel Pinto, head of JPMorgan’s investment bank, told the Financial Times. It “makes all the sense in the world" to explore blockchain's potential to improve that process. Digital Asset Holdings is run by Blythe Masters, JPMorgan's former head of commodities. (Reporting by Carl O'Donnell; Editing by Peter Cooney) View comments || JPMorgan launches blockchain trial project -FT: Jan 31 (Reuters) - JPMorgan Chase is partnering with start-up Digital Asset Holdings to launch a trial project using blockchain technology that could reduce the cost and complexity of trading, the Financial Times reported on Sunday. The agreement comes as another sign that blockchain, which is best known as the basis of the digital currency Bitcoin, has wide-ranging applications for some of Wall Street's biggest banks. One potential use for the technology is addressing liquidity mismatches in some of JPMorgan's loan funds, the Financial Times said. "To sell a loan is a very cumbersome, time-consuming process; settlement can take weeks," Daniel Pinto, head of JPMorgan's investment bank, told the Financial Times. It "makes all the sense in the world" to explore blockchain's potential to improve that process. Digital Asset Holdings is run by Blythe Masters, JPMorgan's former head of commodities. (Reporting by Carl O'Donnell; Editing by Peter Cooney) || JPMorgan launches blockchain trial project -FT: Jan 31 (Reuters) - JPMorgan Chase is partnering with start-up Digital Asset Holdings to launch a trial project using blockchain technology that could reduce the cost and complexity of trading, the Financial Times reported on Sunday.
The agreement comes as another sign that blockchain, which is best known as the basis of the digital currency Bitcoin, has wide-ranging applications for some of Wall Street's biggest banks.
One potential use for the technology is addressing liquidity mismatches in some of JPMorgan's loan funds, the Financial Times said.
"To sell a loan is a very cumbersome, time-consuming process; settlement can take weeks," Daniel Pinto, head of JPMorgan's investment bank, told the Financial Times. It "makes all the sense in the world" to explore blockchain's potential to improve that process.
Digital Asset Holdings is run by Blythe Masters, JPMorgan's former head of commodities.
(Reporting by Carl O'Donnell; Editing by Peter Cooney)
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376.52, 376.62, 373.45, 376.03, 381.65, 379.65, 384.26, 391.86, 407.23, 400.18
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Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 463.62, 462.32, 442.68, 438.64, 436.57, 442.40, 454.98, 455.65, 417.27, 422.82, 422.28, 432.98, 426.62, 430.57, 434.33, 433.44, 430.01, 433.09, 431.96, 429.11, 458.05, 453.23, 447.61, 447.99, 448.43, 435.69, 432.37, 430.31, 364.33, 387.54, 382.30, 387.17, 380.15, 420.23, 410.26, 382.49, 387.49, 402.97, 391.73, 392.15, 394.97, 380.29, 379.47, 378.26, 368.77, 373.06, 374.45, 369.95, 389.59, 386.55, 376.52, 376.62, 373.45, 376.03, 381.65, 379.65, 384.26, 391.86, 407.23, 400.18, 407.49, 416.32, 422.37, 420.79, 437.16, 438.80, 437.75, 420.74, 424.95, 424.54, 432.15, 432.52, 433.50, 437.70, 435.12, 423.99, 421.65, 410.94, 400.57, 407.71, 414.32, 413.97, 414.86, 417.13, 421.69, 411.62, 414.07, 416.44, 416.83, 417.01.
|
[Bitcoin Technical Analysis for 2016-03-16]
Volume: 65185800, RSI (14-day): 51.16, 50-day EMA: 412.09, 200-day EMA: 367.16
[Wider Market Context]
Gold Price: 1229.30, Gold RSI: 51.90
Oil Price: 38.46, Oil RSI: 62.93
[Recent News (last 7 days)]
Chinese hackers behind U.S. ransomware attacks - security firms: By Joseph Menn REUTERS - Hackers using tactics and tools previously associated with Chinese government-supported computer network intrusions have joined the booming cyber crime industry of ransomware, four security firms that investigated attacks on U.S. companies said. Ransomware, which involves encrypting a target's computer files and then demanding payment to unlock them, has generally been considered the domain of run-of-the-mill cyber criminals. But executives of the security firms have seen a level of sophistication in at least a half dozen cases over the last three months akin to those used in state-sponsored attacks, including techniques to gain entry and move around the networks, as well as the software used to manage intrusions. "It is obviously a group of skilled of operators that have some amount of experience conducting intrusions," said Phil Burdette, who heads an incident response team at Dell SecureWorks. Burdette said his team was called in on three cases in as many months where hackers spread ransomware after exploiting known vulnerabilities in application servers. From there, the hackers tricked more than 100 computers in each of the companies into installing the malicious programs. The victims included a transportation company and a technology firm that had 30 percent of its machines captured. Security firms Attack Research, InGuardians and G-C Partners, said they had separately investigated three other similar ransomware attacks since December. Although they cannot be positive, the companies concluded that all were the work of a known advanced threat group from China, Attack Research Chief Executive Val Smith told Reuters. The ransomware attacks have not previously been reported. None of the companies that were victims of the hackers agreed to be identified publicly. Asked about the allegations, China's Foreign Ministry said on Tuesday that if they were made with a "serious attitude" and reliable proof, China would treat the matter seriously. But ministry spokesman Lu Kang said China did not have time to respond to what he called "rumours and speculation" about the country's online activities. The security companies investigating the advanced ransomware intrusions have various theories about what is behind them, but they do not have proof and they have not come to any firm conclusions. Most of the theories flow from the possibility that the Chinese government has reduced its support for economic espionage, which it pledged to oppose in an agreement with the United States late last year. Some U.S. companies have reported a decline in Chinese hacking since the agreement. Smith said some government hackers or contractors could be out of work or with reduced work and looking to supplement their income via ransomware. It is also possible, Burdette said, that companies which had been penetrated for trade secrets or other reasons in the past were now being abandoned as China backs away, and that spies or their associates were taking as much as they could on the way out. In one of Dell's cases, the means of access by the team spreading ransomware was established in 2013. The cyber security experts could not completely rule out more prosaic explanations, such as the possibility that ordinary criminals had improved their skills and bought tools previously used only by governments. Dell said that some of the malicious software had been associated by other security firms with a group dubbed Codoso, which has a record of years of attacks of interest to the Chinese government, including those on U.S. defense companies and sites that draw Chinese minorities. PAYMENT IN BITCOIN Ransomware has been around for years, spread by some of the same people that previously installed fake antivirus programs on home computers and badgered the victims into paying to remove imaginary threats. In the past two years, better encryption techniques have often made it impossible for victims to regain access to their files without cooperation from the hackers. Many ransomware payments are made in the virtual currency Bitcoin and remain secret, but institutions including a Los Angeles hospital have gone public about ransomware attacks. Ransomware operators generally set modest prices that many victims are willing to pay, and they usually do decrypt the files, which ensures that victims will post positively online about the transaction, making the next victims who research their predicament more willing to pay. Security software companies have warned that because the aggregate payoffs for ransomware gangs are increasing, more criminals will shift to it from credit card theft and other complicated scams. The involvement of more sophisticated hackers also promises to intensify the threat. InGuardians CEO Jimmy Alderson said one of the cases his company investigated appeared to have been launched with online credentials stolen six months earlier in a suspected espionage hack of the sort typically called an Advanced Persistent Threat, or APT. "The tactics of getting access to these networks are APT tactics, but instead of going further in to sit and listen stealthily, they are used for smash-and-grab," Alderson said. (Reporting by Joseph Menn in San Francisco; Additional reporting by Megha Rajagopalan in BEIJING; Editing by Jonathan Weber and Clarence Fernandez) View comments || Chinese hackers behind U.S. ransomware attacks - security firms: By Joseph Menn REUTERS - Hackers using tactics and tools previously associated with Chinese government-supported computer network intrusions have joined the booming cyber crime industry of ransomware, four security firms that investigated attacks on U.S. companies said. Ransomware, which involves encrypting a target's computer files and then demanding payment to unlock them, has generally been considered the domain of run-of-the-mill cyber criminals. But executives of the security firms have seen a level of sophistication in at least a half dozen cases over the last three months akin to those used in state-sponsored attacks, including techniques to gain entry and move around the networks, as well as the software used to manage intrusions. "It is obviously a group of skilled of operators that have some amount of experience conducting intrusions," said Phil Burdette, who heads an incident response team at Dell SecureWorks. Burdette said his team was called in on three cases in as many months where hackers spread ransomware after exploiting known vulnerabilities in application servers. From there, the hackers tricked more than 100 computers in each of the companies into installing the malicious programs. The victims included a transportation company and a technology firm that had 30 percent of its machines captured. Security firms Attack Research, InGuardians and G-C Partners, said they had separately investigated three other similar ransomware attacks since December. Although they cannot be positive, the companies concluded that all were the work of a known advanced threat group from China, Attack Research Chief Executive Val Smith told Reuters. The ransomware attacks have not previously been reported. None of the companies that were victims of the hackers agreed to be identified publicly. Asked about the allegations, China's Foreign Ministry said on Tuesday that if they were made with a "serious attitude" and reliable proof, China would treat the matter seriously. But ministry spokesman Lu Kang said China did not have time to respond to what he called "rumours and speculation" about the country's online activities. The security companies investigating the advanced ransomware intrusions have various theories about what is behind them, but they do not have proof and they have not come to any firm conclusions. Most of the theories flow from the possibility that the Chinese government has reduced its support for economic espionage, which it pledged to oppose in an agreement with the United States late last year. Some U.S. companies have reported a decline in Chinese hacking since the agreement. Smith said some government hackers or contractors could be out of work or with reduced work and looking to supplement their income via ransomware. It is also possible, Burdette said, that companies which had been penetrated for trade secrets or other reasons in the past were now being abandoned as China backs away, and that spies or their associates were taking as much as they could on the way out. In one of Dell's cases, the means of access by the team spreading ransomware was established in 2013. The cyber security experts could not completely rule out more prosaic explanations, such as the possibility that ordinary criminals had improved their skills and bought tools previously used only by governments. Dell said that some of the malicious software had been associated by other security firms with a group dubbed Codoso, which has a record of years of attacks of interest to the Chinese government, including those on U.S. defense companies and sites that draw Chinese minorities. PAYMENT IN BITCOIN Ransomware has been around for years, spread by some of the same people that previously installed fake antivirus programs on home computers and badgered the victims into paying to remove imaginary threats. In the past two years, better encryption techniques have often made it impossible for victims to regain access to their files without cooperation from the hackers. Many ransomware payments are made in the virtual currency Bitcoin and remain secret, but institutions including a Los Angeles hospital have gone public about ransomware attacks. Ransomware operators generally set modest prices that many victims are willing to pay, and they usually do decrypt the files, which ensures that victims will post positively online about the transaction, making the next victims who research their predicament more willing to pay. Security software companies have warned that because the aggregate payoffs for ransomware gangs are increasing, more criminals will shift to it from credit card theft and other complicated scams. The involvement of more sophisticated hackers also promises to intensify the threat. InGuardians CEO Jimmy Alderson said one of the cases his company investigated appeared to have been launched with online credentials stolen six months earlier in a suspected espionage hack of the sort typically called an Advanced Persistent Threat, or APT. "The tactics of getting access to these networks are APT tactics, but instead of going further in to sit and listen stealthily, they are used for smash-and-grab," Alderson said. (Reporting by Joseph Menn in San Francisco; Additional reporting by Megha Rajagopalan in BEIJING; Editing by Jonathan Weber and Clarence Fernandez) View comments || Exclusive: Chinese hackers behind U.S. ransomware attacks - security firms: By Joseph Menn (Reuters) - Hackers using tactics and tools previously associated with Chinese government-supported computer network intrusions have joined the booming cyber crime industry of ransomware, four security firms that investigated attacks on U.S. companies said. Ransomware, which involves encrypting a target's computer files and then demanding payment to unlock them, has generally been considered the domain of run-of-the-mill cyber criminals. But executives of the security firms have seen a level of sophistication in at least a half dozen cases over the last three months akin to those used in state-sponsored attacks, including techniques to gain entry and move around the networks, as well as the software used to manage intrusions. "It is obviously a group of skilled of operators that have some amount of experience conducting intrusions," said Phil Burdette, who heads an incident response team at Dell SecureWorks. Burdette said his team was called in on three cases in as many months where hackers spread ransomware after exploiting known vulnerabilities in application servers. From there, the hackers tricked more than 100 computers in each of the companies into installing the malicious programs. The victims included a transportation company and a technology firm that had 30 percent of its machines captured. Security firms Attack Research, InGuardians and G-C Partners, said they had separately investigated three other similar ransomware attacks since December. Although they cannot be positive, the companies concluded that all were the work of a known advanced threat group from China, Attack Research Chief Executive Val Smith told Reuters. The ransomware attacks have not previously been reported. None of the companies that were victims of the hackers agreed to be identified publicly. Asked about the allegations, China's Foreign Ministry said on Tuesday that if they were made with a "serious attitude" and reliable proof, China would treat the matter seriously. But ministry spokesman Lu Kang said China did not have time to respond to what he called "rumors and speculation" about the country's online activities. The security companies investigating the advanced ransomware intrusions have various theories about what is behind them, but they do not have proof and they have not come to any firm conclusions. Most of the theories flow from the possibility that the Chinese government has reduced its support for economic espionage, which it pledged to oppose in an agreement with the United States late last year. Some U.S. companies have reported a decline in Chinese hacking since the agreement. Smith said some government hackers or contractors could be out of work or with reduced work and looking to supplement their income via ransomware. It is also possible, Burdette said, that companies which had been penetrated for trade secrets or other reasons in the past were now being abandoned as China backs away, and that spies or their associates were taking as much as they could on the way out. In one of Dell's cases, the means of access by the team spreading ransomware was established in 2013. The cyber security experts could not completely rule out more prosaic explanations, such as the possibility that ordinary criminals had improved their skills and bought tools previously used only by governments. Dell said that some of the malicious software had been associated by other security firms with a group dubbed Codoso, which has a record of years of attacks of interest to the Chinese government, including those on U.S. defense companies and sites that draw Chinese minorities. PAYMENT IN BITCOIN Ransomware has been around for years, spread by some of the same people that previously installed fake antivirus programs on home computers and badgered the victims into paying to remove imaginary threats. In the past two years, better encryption techniques have often made it impossible for victims to regain access to their files without cooperation from the hackers. Many ransomware payments are made in the virtual currency Bitcoin and remain secret, but institutions including a Los Angeles hospital have gone public about ransomware attacks. Ransomware operators generally set modest prices that many victims are willing to pay, and they usually do decrypt the files, which ensures that victims will post positively online about the transaction, making the next victims who research their predicament more willing to pay. Security software companies have warned that because the aggregate payoffs for ransomware gangs are increasing, more criminals will shift to it from credit card theft and other complicated scams. The involvement of more sophisticated hackers also promises to intensify the threat. InGuardians CEO Jimmy Alderson said one of the cases his company investigated appeared to have been launched with online credentials stolen six months earlier in a suspected espionage hack of the sort typically called an Advanced Persistent Threat, or APT. "The tactics of getting access to these networks are APT tactics, but instead of going further in to sit and listen stealthily, they are used for smash-and-grab," Alderson said. (Reporting by Joseph Menn in San Francisco; Additional reporting by Megha Rajagopalan in BEIJING; Editing by Jonathan Weber and Clarence Fernandez) || Exclusive: Chinese hackers behind U.S. ransomware attacks - security firms: By Joseph Menn (Reuters) - Hackers using tactics and tools previously associated with Chinese government-supported computer network intrusions have joined the booming cyber crime industry of ransomware, four security firms that investigated attacks on U.S. companies said. Ransomware, which involves encrypting a target's computer files and then demanding payment to unlock them, has generally been considered the domain of run-of-the-mill cyber criminals. But executives of the security firms have seen a level of sophistication in at least a half dozen cases over the last three months akin to those used in state-sponsored attacks, including techniques to gain entry and move around the networks, as well as the software used to manage intrusions. "It is obviously a group of skilled of operators that have some amount of experience conducting intrusions," said Phil Burdette, who heads an incident response team at Dell SecureWorks. Burdette said his team was called in on three cases in as many months where hackers spread ransomware after exploiting known vulnerabilities in application servers. From there, the hackers tricked more than 100 computers in each of the companies into installing the malicious programs. The victims included a transportation company and a technology firm that had 30 percent of its machines captured. Security firms Attack Research, InGuardians and G-C Partners, said they had separately investigated three other similar ransomware attacks since December. Although they cannot be positive, the companies concluded that all were the work of a known advanced threat group from China, Attack Research Chief Executive Val Smith told Reuters. The ransomware attacks have not previously been reported. None of the companies that were victims of the hackers agreed to be identified publicly. Asked about the allegations, China's Foreign Ministry said on Tuesday that if they were made with a "serious attitude" and reliable proof, China would treat the matter seriously. But ministry spokesman Lu Kang said China did not have time to respond to what he called "rumors and speculation" about the country's online activities. The security companies investigating the advanced ransomware intrusions have various theories about what is behind them, but they do not have proof and they have not come to any firm conclusions. Most of the theories flow from the possibility that the Chinese government has reduced its support for economic espionage, which it pledged to oppose in an agreement with the United States late last year. Some U.S. companies have reported a decline in Chinese hacking since the agreement. Smith said some government hackers or contractors could be out of work or with reduced work and looking to supplement their income via ransomware. It is also possible, Burdette said, that companies which had been penetrated for trade secrets or other reasons in the past were now being abandoned as China backs away, and that spies or their associates were taking as much as they could on the way out. In one of Dell's cases, the means of access by the team spreading ransomware was established in 2013. The cyber security experts could not completely rule out more prosaic explanations, such as the possibility that ordinary criminals had improved their skills and bought tools previously used only by governments. Dell said that some of the malicious software had been associated by other security firms with a group dubbed Codoso, which has a record of years of attacks of interest to the Chinese government, including those on U.S. defense companies and sites that draw Chinese minorities. PAYMENT IN BITCOIN Ransomware has been around for years, spread by some of the same people that previously installed fake antivirus programs on home computers and badgered the victims into paying to remove imaginary threats. In the past two years, better encryption techniques have often made it impossible for victims to regain access to their files without cooperation from the hackers. Many ransomware payments are made in the virtual currency Bitcoin and remain secret, but institutions including a Los Angeles hospital have gone public about ransomware attacks. Ransomware operators generally set modest prices that many victims are willing to pay, and they usually do decrypt the files, which ensures that victims will post positively online about the transaction, making the next victims who research their predicament more willing to pay. Security software companies have warned that because the aggregate payoffs for ransomware gangs are increasing, more criminals will shift to it from credit card theft and other complicated scams. The involvement of more sophisticated hackers also promises to intensify the threat. InGuardians CEO Jimmy Alderson said one of the cases his company investigated appeared to have been launched with online credentials stolen six months earlier in a suspected espionage hack of the sort typically called an Advanced Persistent Threat, or APT. "The tactics of getting access to these networks are APT tactics, but instead of going further in to sit and listen stealthily, they are used for smash-and-grab," Alderson said. (Reporting by Joseph Menn in San Francisco; Additional reporting by Megha Rajagopalan in BEIJING; Editing by Jonathan Weber and Clarence Fernandez) View comments || Exclusive: Chinese hackers behind U.S. ransomware attacks - security firms: By Joseph Menn (Reuters) - Hackers using tactics and tools previously associated with Chinese government-supported computer network intrusions have joined the booming cyber crime industry of ransomware, four security firms that investigated attacks on U.S. companies said. Ransomware, which involves encrypting a target's computer files and then demanding payment to unlock them, has generally been considered the domain of run-of-the-mill cyber criminals. But executives of the security firms have seen a level of sophistication in at least a half dozen cases over the last three months akin to those used in state-sponsored attacks, including techniques to gain entry and move around the networks, as well as the software used to manage intrusions. “It is obviously a group of skilled of operators that have some amount of experience conducting intrusions,” said Phil Burdette, who heads an incident response team at Dell SecureWorks. Burdette said his team was called in on three cases in as many months where hackers spread ransomware after exploiting known vulnerabilities in application servers. From there, the hackers tricked more than 100 computers in each of the companies into installing the malicious programs. The victims included a transportation company and a technology firm that had 30 percent of its machines captured. Security firms Attack Research, InGuardians and G-C Partners, said they had separately investigated three other similar ransomware attacks since December. Although they cannot be positive, the companies concluded that all were the work of a known advanced threat group from China, Attack Research Chief Executive Val Smith told Reuters. The ransomware attacks have not previously been reported. None of the companies that were victims of the hackers agreed to be identified publicly. The security companies investigating the advanced ransomware intrusions have various theories about what is behind them, but they do not have proof and they have not come to any firm conclusions. Story continues Most of the theories flow from the possibility that the Chinese government has reduced its support for economic espionage, which it pledged to oppose in an agreement with the United States late last year. Some U.S. companies have reported a decline in Chinese hacking since the agreement. Smith said some government hackers or contractors could be out of work or with reduced work and looking to supplement their income via ransomware. It is also possible, Burdette said, that companies which had been penetrated for trade secrets or other reasons in the past were now being abandoned as China backs away, and that spies or their associates were taking as much as they could on the way out. In one of Dell’s cases, the means of access by the team spreading ransomware was established in 2013. The cyber security experts could not completely rule out more prosaic explanations, such as the possibility that ordinary criminals had improved their skills and bought tools previously used only by governments. Dell said that some of the malicious software had been associated by other security firms with a group dubbed Codoso, which has a record of years of attacks of interest to the Chinese government, including those on U.S. defense companies and sites that draw Chinese minorities. PAYMENT IN BITCOIN Ransomware has been around for years, spread by some of the same people that previously installed fake antivirus programs on home computers and badgered the victims into paying to remove imaginary threats. In the past two years, better encryption techniques have often made it impossible for victims to regain access to their files without cooperation from the hackers. Many ransomware payments are made in the virtual currency Bitcoin and remain secret, but institutions including a Los Angeles hospital have gone public about ransomware attacks. Ransomware operators generally set modest prices that many victims are willing to pay, and they usually do decrypt the files, which ensures that victims will post positively online about the transaction, making the next victims who research their predicament more willing to pay. Security software companies have warned that because the aggregate payoffs for ransomware gangs are increasing, more criminals will shift to it from credit card theft and other complicated scams. The involvement of more sophisticated hackers also promises to intensify the threat. InGuardians CEO Jimmy Alderson said one of the cases his company investigated appeared to have been launched with online credentials stolen six months earlier in a suspected espionage hack of the sort typically called an Advanced Persistent Threat, or APT. “The tactics of getting access to these networks are APT tactics, but instead of going further in to sit and listen stealthily, they are used for smash-and-grab,” Alderson said. (Reporting by Joseph Menn in San Francisco; editing by Jonathan Weber and Grant McCool) || Exclusive: Chinese hackers behind U.S. ransomware attacks - security firms: By Joseph Menn (Reuters) - Hackers using tactics and tools previously associated with Chinese government-supported computer network intrusions have joined the booming cyber crime industry of ransomware, four security firms that investigated attacks on U.S. companies said. Ransomware, which involves encrypting a target's computer files and then demanding payment to unlock them, has generally been considered the domain of run-of-the-mill cyber criminals. But executives of the security firms have seen a level of sophistication in at least a half dozen cases over the last three months akin to those used in state-sponsored attacks, including techniques to gain entry and move around the networks, as well as the software used to manage intrusions. “It is obviously a group of skilled of operators that have some amount of experience conducting intrusions,” said Phil Burdette, who heads an incident response team at Dell SecureWorks. Burdette said his team was called in on three cases in as many months where hackers spread ransomware after exploiting known vulnerabilities in application servers. From there, the hackers tricked more than 100 computers in each of the companies into installing the malicious programs. The victims included a transportation company and a technology firm that had 30 percent of its machines captured. Security firms Attack Research, InGuardians and G-C Partners, said they had separately investigated three other similar ransomware attacks since December. Although they cannot be positive, the companies concluded that all were the work of a known advanced threat group from China, Attack Research Chief Executive Val Smith told Reuters. The ransomware attacks have not previously been reported. None of the companies that were victims of the hackers agreed to be identified publicly. The security companies investigating the advanced ransomware intrusions have various theories about what is behind them, but they do not have proof and they have not come to any firm conclusions. Story continues Most of the theories flow from the possibility that the Chinese government has reduced its support for economic espionage, which it pledged to oppose in an agreement with the United States late last year. Some U.S. companies have reported a decline in Chinese hacking since the agreement. Smith said some government hackers or contractors could be out of work or with reduced work and looking to supplement their income via ransomware. It is also possible, Burdette said, that companies which had been penetrated for trade secrets or other reasons in the past were now being abandoned as China backs away, and that spies or their associates were taking as much as they could on the way out. In one of Dell’s cases, the means of access by the team spreading ransomware was established in 2013. The cyber security experts could not completely rule out more prosaic explanations, such as the possibility that ordinary criminals had improved their skills and bought tools previously used only by governments. Dell said that some of the malicious software had been associated by other security firms with a group dubbed Codoso, which has a record of years of attacks of interest to the Chinese government, including those on U.S. defense companies and sites that draw Chinese minorities. PAYMENT IN BITCOIN Ransomware has been around for years, spread by some of the same people that previously installed fake antivirus programs on home computers and badgered the victims into paying to remove imaginary threats. In the past two years, better encryption techniques have often made it impossible for victims to regain access to their files without cooperation from the hackers. Many ransomware payments are made in the virtual currency Bitcoin and remain secret, but institutions including a Los Angeles hospital have gone public about ransomware attacks. Ransomware operators generally set modest prices that many victims are willing to pay, and they usually do decrypt the files, which ensures that victims will post positively online about the transaction, making the next victims who research their predicament more willing to pay. Security software companies have warned that because the aggregate payoffs for ransomware gangs are increasing, more criminals will shift to it from credit card theft and other complicated scams. The involvement of more sophisticated hackers also promises to intensify the threat. InGuardians CEO Jimmy Alderson said one of the cases his company investigated appeared to have been launched with online credentials stolen six months earlier in a suspected espionage hack of the sort typically called an Advanced Persistent Threat, or APT. “The tactics of getting access to these networks are APT tactics, but instead of going further in to sit and listen stealthily, they are used for smash-and-grab,” Alderson said. (Reporting by Joseph Menn in San Francisco; editing by Jonathan Weber and Grant McCool) || Exclusive: Chinese hackers behind U.S. ransomware attacks - security firms: By Joseph Menn
(Reuters) - Hackers using tactics and tools previously associated with Chinese government-supported computer network intrusions have joined the booming cyber crime industry of ransomware, four security firms that investigated attacks on U.S. companies said.
Ransomware, which involves encrypting a target's computer files and then demanding payment to unlock them, has generally been considered the domain of run-of-the-mill cyber criminals.
But executives of the security firms have seen a level of sophistication in at least a half dozen cases over the last three months akin to those used in state-sponsored attacks, including techniques to gain entry and move around the networks, as well as the software used to manage intrusions.
“It is obviously a group of skilled of operators that have some amount of experience conducting intrusions,” said Phil Burdette, who heads an incident response team at Dell SecureWorks.
Burdette said his team was called in on three cases in as many months where hackers spread ransomware after exploiting known vulnerabilities in application servers. From there, the hackers tricked more than 100 computers in each of the companies into installing the malicious programs.
The victims included a transportation company and a technology firm that had 30 percent of its machines captured.
Security firms Attack Research, InGuardians and G-C Partners, said they had separately investigated three other similar ransomware attacks since December.
Although they cannot be positive, the companies concluded that all were the work of a known advanced threat group from China, Attack Research Chief Executive Val Smith told Reuters.
The ransomware attacks have not previously been reported. None of the companies that were victims of the hackers agreed to be identified publicly.
The security companies investigating the advanced ransomware intrusions have various theories about what is behind them, but they do not have proof and they have not come to any firm conclusions.
Most of the theories flow from the possibility that the Chinese government has reduced its support for economic espionage, which it pledged to oppose in an agreement with the United States late last year. Some U.S. companies have reported a decline in Chinese hacking since the agreement.
Smith said some government hackers or contractors could be out of work or with reduced work and looking to supplement their income via ransomware.
It is also possible, Burdette said, that companies which had been penetrated for trade secrets or other reasons in the past were now being abandoned as China backs away, and that spies or their associates were taking as much as they could on the way out. In one of Dell’s cases, the means of access by the team spreading ransomware was established in 2013.
The cyber security experts could not completely rule out more prosaic explanations, such as the possibility that ordinary criminals had improved their skills and bought tools previously used only by governments.
Dell said that some of the malicious software had been associated by other security firms with a group dubbed Codoso, which has a record of years of attacks of interest to the Chinese government, including those on U.S. defense companies and sites that draw Chinese minorities.
PAYMENT IN BITCOIN
Ransomware has been around for years, spread by some of the same people that previously installed fake antivirus programs on home computers and badgered the victims into paying to remove imaginary threats.
In the past two years, better encryption techniques have often made it impossible for victims to regain access to their files without cooperation from the hackers. Many ransomware payments are made in the virtual currency Bitcoin and remain secret, but institutions including a Los Angeles hospital have gone public about ransomware attacks.
Ransomware operators generally set modest prices that many victims are willing to pay, and they usually do decrypt the files, which ensures that victims will post positively online about the transaction, making the next victims who research their predicament more willing to pay.
Security software companies have warned that because the aggregate payoffs for ransomware gangs are increasing, more criminals will shift to it from credit card theft and other complicated scams.
The involvement of more sophisticated hackers also promises to intensify the threat.
InGuardians CEO Jimmy Alderson said one of the cases his company investigated appeared to have been launched with online credentials stolen six months earlier in a suspected espionage hack of the sort typically called an Advanced Persistent Threat, or APT.
“The tactics of getting access to these networks are APT tactics, but instead of going further in to sit and listen stealthily, they are used for smash-and-grab,” Alderson said.
(Reporting by Joseph Menn in San Francisco; editing by Jonathan Weber and Grant McCool) || Exclusive: Chinese hackers behind U.S. ransomware attacks - security firms: By Joseph Menn (Reuters) - Hackers using tactics and tools previously associated with Chinese government-supported computer network intrusions have joined the booming cyber crime industry of ransomware, four security firms that investigated attacks on U.S. companies said. Ransomware, which involves encrypting a target's computer files and then demanding payment to unlock them, has generally been considered the domain of run-of-the-mill cyber criminals. But executives of the security firms have seen a level of sophistication in at least a half dozen cases over the last three months akin to those used in state-sponsored attacks, including techniques to gain entry and move around the networks, as well as the software used to manage intrusions. “It is obviously a group of skilled of operators that have some amount of experience conducting intrusions,” said Phil Burdette, who heads an incident response team at Dell SecureWorks. Burdette said his team was called in on three cases in as many months where hackers spread ransomware after exploiting known vulnerabilities in application servers. From there, the hackers tricked more than 100 computers in each of the companies into installing the malicious programs. The victims included a transportation company and a technology firm that had 30 percent of its machines captured. Security firms Attack Research, InGuardians and G-C Partners, said they had separately investigated three other similar ransomware attacks since December. Although they cannot be positive, the companies concluded that all were the work of a known advanced threat group from China, Attack Research Chief Executive Val Smith told Reuters. The ransomware attacks have not previously been reported. None of the companies that were victims of the hackers agreed to be identified publicly. The security companies investigating the advanced ransomware intrusions have various theories about what is behind them, but they do not have proof and they have not come to any firm conclusions. Story continues Most of the theories flow from the possibility that the Chinese government has reduced its support for economic espionage, which it pledged to oppose in an agreement with the United States late last year. Some U.S. companies have reported a decline in Chinese hacking since the agreement. Smith said some government hackers or contractors could be out of work or with reduced work and looking to supplement their income via ransomware. It is also possible, Burdette said, that companies which had been penetrated for trade secrets or other reasons in the past were now being abandoned as China backs away, and that spies or their associates were taking as much as they could on the way out. In one of Dell’s cases, the means of access by the team spreading ransomware was established in 2013. The cyber security experts could not completely rule out more prosaic explanations, such as the possibility that ordinary criminals had improved their skills and bought tools previously used only by governments. Dell said that some of the malicious software had been associated by other security firms with a group dubbed Codoso, which has a record of years of attacks of interest to the Chinese government, including those on U.S. defense companies and sites that draw Chinese minorities. PAYMENT IN BITCOIN Ransomware has been around for years, spread by some of the same people that previously installed fake antivirus programs on home computers and badgered the victims into paying to remove imaginary threats. In the past two years, better encryption techniques have often made it impossible for victims to regain access to their files without cooperation from the hackers. Many ransomware payments are made in the virtual currency Bitcoin and remain secret, but institutions including a Los Angeles hospital have gone public about ransomware attacks. Ransomware operators generally set modest prices that many victims are willing to pay, and they usually do decrypt the files, which ensures that victims will post positively online about the transaction, making the next victims who research their predicament more willing to pay. Security software companies have warned that because the aggregate payoffs for ransomware gangs are increasing, more criminals will shift to it from credit card theft and other complicated scams. The involvement of more sophisticated hackers also promises to intensify the threat. InGuardians CEO Jimmy Alderson said one of the cases his company investigated appeared to have been launched with online credentials stolen six months earlier in a suspected espionage hack of the sort typically called an Advanced Persistent Threat, or APT. “The tactics of getting access to these networks are APT tactics, but instead of going further in to sit and listen stealthily, they are used for smash-and-grab,” Alderson said. (Reporting by Joseph Menn in San Francisco; editing by Jonathan Weber and Grant McCool) || Microsoft: Sorry, your bitcoin is still good here: Technology company Microsoft (NASDAQ: MSFT) was forced to apologize on Monday, after accidentally announcing that it would no longer accept bitcoin. Contrary to an earlier statement, Microsoft users can still use the virtual currency to buy content in the Windows and Xbox stores. Earlier on Monday, the software giant mistakenly suggested it had stopped accepting payment in bitcoin. "We apologize for inaccurate information that was inadvertently posted to a Microsoft site, which is currently being corrected," a spokesman told CNBC. A now-deleted post on Microsoft's website indicated there was no more bitcoin for Windows 10 and Windows 10 mobile users. The post was picked up by tech site Softpedia Sunday and sent the technology blogsphere buzzing. "You can no longer redeem Bitcoin into your Microsoft account," the errant post read. "Existing balances in your account will still be available for purchases from Microsoft Store, but can't be refunded." In December 2014, Microsoft began accepting bitcoins for Windows 10 store purchases from users in the United States. Transactions were made through the bitcoin processor BitPay. BitPay said it saw the volume of bitcoin transactions grow 110 percent in 2015 versus a year earlier, according to a blog post this January. BitPay did immediately responded to CNBC's requests for comment. — CNBC's Anita Balakrishnan contributed to this report. More From CNBC Top News and Analysis Latest News Video Personal Finance || Microsoft: Sorry, your bitcoin is still good here: Technology company Microsoft (NASDAQ: MSFT) was forced to apologize on Monday, after accidentally announcing that it would no longer accept bitcoin. Contrary to an earlier statement, Microsoft users can still use the virtual currency to buy content in the Windows and Xbox stores. Earlier on Monday, the software giant mistakenly suggested it had stopped accepting payment in bitcoin. "We apologize for inaccurate information that was inadvertently posted to a Microsoft site, which is currently being corrected," a spokesman told CNBC. A now-deleted post on Microsoft's website indicated there was no more bitcoin for Windows 10 and Windows 10 mobile users. The post was picked up by tech site Softpedia Sunday and sent the technology blogsphere buzzing. "You can no longer redeem Bitcoin into your Microsoft account," the errant post read. "Existing balances in your account will still be available for purchases from Microsoft Store, but can't be refunded." In December 2014, Microsoft began accepting bitcoins for Windows 10 store purchases from users in the United States. Transactions were made through the bitcoin processor BitPay. BitPay said it saw the volume of bitcoin transactions grow 110 percent in 2015 versus a year earlier, according to a blog post this January. BitPay did immediately responded to CNBC's requests for comment. — CNBC's Anita Balakrishnan contributed to this report. More From CNBC Top News and Analysis Latest News Video Personal Finance || Can you Pick the 2016 Election Winners Without TV Analysts? Heres a Better Bet: Watch the video of Can you Pick the 2016 Election Winners Without TV Analysts? Heres a Better Bet on MoneyTalksNews.com. If you want a quick glimpse at whos likeliest to be our next president, dont listen to pollsters and pundits. Follow the money. We dont mean the big bucks of super PACs or even the millions from small-money donors. Were talking about real money people who wager on election outcomes. It turns out that the collective wisdom of bettors has a better record of predicting winners than the talking heads. One place that bettors congregate online is the Iowa Electronic Markets , or the IEM, at the University of Iowa. If you look at polls run during the election, in about 75 percent of the cases, Iowas market prices predict the outcome of elections better than the polls, says Joyce Berg, a University of Iowa accounting professor who oversees the IEM. Frederick Boehmke, University of Iowa political science professor and faculty adviser to the Hawkeye Poll, recently explained why to the Quad City Times newspaper . A poll asks a persons preference, what they want to happen, Boehmke said. People investing in the IEM, however, are trying to make money, so they pick the candidate or party they think will win. They typically set aside personal preferences to make money. Also, a poll is a snapshot at a moment in time, Boehmke said. The market is about who will win in the end. The IEM and another exchange, PredictIt , which is set up in Washington, D.C., under the auspices of Victoria University of Wellington, New Zealand, say the predictions work because the wisdom of crowds aggregates the expectations of thousands of bettors who have skin in the game. A now-defunct exchange called Intrade in 2012 predicted the electoral outcome in 49 of the 50 states. People who put up real money are more likely to consider all the available information than people who just offer their opinions, says Money Talks News financial expert Stacy Johnson. Story continues That information could include economic and business conditions, stock market performance, inflation and employment rates as well as other factors that could sway voters moods. Once invested in the outcome, bettors follow campaigns closely. As on a stock exchange and similar to fantasy sports leagues, bettors can make or lose money buying and selling their shares in the outcomes in which they invested. You can get in on the action. How it works In exchanges, bettors actually are traders who buy and sell real-money contracts based on their beliefs about yes or no election outcomes. Unlike a casino sports book, the exchange does not set odds. The prices reflect the probabilities of various candidate winning a given political race. PredictIt explains it this way: You make predictions on future events by buying shares in an outcome, Yes or No. Each outcome has a probability between 1 and 99 percent, which is converted into U.S. cents. For example, Trader A thinks an event has at least a 60 percent chance of taking place so she offers 60 cents for a Yes share. PredictIt matches her offer with that of Trader B, who is willing to pay 40 cents for a No share. Each trader now owns a share in the market for this event on opposite sides.
If an event does take place, all Yes shares are redeemed at $1. Shares in No become worthless. If the event does not take place before the market closes, traders holding shares in No will be paid $1, while Yes shares will be worthless. At the IEM, you can open an account for $5 to $200. If you just want to look, check whos leading the popular bets. Popular bets For the moment, according to the exchanges and other betting venues, the odds-on favorite is Hillary Clinton. That doesnt mean bettors favor Hillarys politics over those of Bernie Sanders, her rival for the Democratic nomination, or Republican front-runner Donald Trump. It just means they bet she wins. The likelihood of a Trump presidency, according to bettors, is less than 20 percent. Both the IEM and PredictIt offer markets in who will be the GOP and Democratic presidential nominees. IEM has a market in which party will win the 2016 election as well as one in which you can bet on how the parties will share the popular vote. As of March 11, it was Democrats, about 55 percent, leading Republicans, 45 percent. The IEM also has a market on who will control Congress (Republican House, Democratic Senate is leading). PredictIt also has bets on upcoming party primaries, including Ohio (Kasich beating Trump, Clinton beating Sanders) and Illinois (Trump trouncing Cruz, Clinton trouncing Sanders) as well as topics such as whether the GOP will have a brokered convention (No is beating Yes) and will Marco Rubio drop out by March 18 (Yes is beating No). More sites at which to garner predictions Election Betting Odds : Run by Fox Business reporter John Stossel and his producer, Maxim Lott, Election Betting Odds features odds derived from an exchange, Betfair.com , which does not accept American traders due to regulations. It recently showed Clinton with a 64 percent probability of winning the White House and Trump with a 19 percent chance. FiveThirtyEight : This site is run by Nate Silver, known for calling the results in 49 out of 50 states in 2008 and all 50 states in 2012, FiveThirtyEight is predicting outcomes from primaries and caucuses based on data from polls and endorsements. PredictWise: Run by David Rothschild, an economist at Microsoft Research in New York City, PredictWise aggregates data on politics as well as sports, finance and entertainment. The site says it is does not favor gambling. It does indicate the Democratic nominee has a 69 percent chance of winning the White House compared with the Republican candidates 31 percent chance of winning. It also predicts Clinton will be the Democratic nominee by a better than 9-1 ratio over Sanders, and that Trump has a 76 percent probability of winning the GOP nomination. Pinnacle Sports : At the Curacao-licensed online betting site, Clinton has the best odds. Paddy Power : An online gambling site that mainly features sports, Paddy Power takes bets (not from the United States) on U.S. politics , too. It has Clinton as favored to win; Trump has the second-best odds. Predictious : Established after the demise of Intrade, Ireland-based Predictious exchange allows you to buy and sell contracts using Bitcoins, the virtual currency. Despite all these predictions, they could be dead wrong, Johnson points out. Ahead of the March 1 Super Tuesday elections, PredictIt bettors and PredictWise said Trump would win 10 of 11 states and would lose only to Ted Cruz in Cruzs home state, Texas. Cruz did win in Texas, but he also took Oklahoma and Alaska while Rubio won Minnesota; Trump won in seven states: Alabama, Arkansas, Georgia, Massachusetts, Tennessee, Vermont and Virginia. So, while you might want to get a handle on the odds for your favorite candidate and bettors can help in the voting booth, you need to weigh that with your political convictions. You need to do your own research, pick your own candidate and then back that candidate with your vote, no matter what gamblers, polls or pundits say, he said. If you were betting on the election, where would you put your money? Does that pick line up with your politics? Share with us in comments below or on our Facebook page . This article was originally published on MoneyTalksNews.com as 'Can you Pick the 2016 Election Winners Without TV Analysts? Heres a Better Bet' . More from Money Talks News A Way to Master Income Taxes at Last and Save Money 7 Ways Donald Trump is Destroying His Brand and 4 Ways Hes Improving It Could These 12 Weird Tax Deductions Save You Money? || Can you Pick the 2016 Election Winners Without TV Analysts? Here’s a Better Bet: Watch the video of ‘Can you Pick the 2016 Election Winners Without TV Analysts? Here’s a Better Bet’ on MoneyTalksNews.com.
If you want a quick glimpse at who’s likeliest to be our next president, don’t listen to pollsters and pundits. Follow the money.
We don’t mean the big bucks of super PACs or even the millions from small-money donors.
We’re talking about real money people who wager on election outcomes. It turns out that the collective wisdom of bettors has a better record of predicting winners than the talking heads.
One place that bettors congregate online is theIowa Electronic Markets, or the IEM, at the University of Iowa.
“If you look at polls run during the election, in about 75 percent of the cases, Iowa’s market prices predict the outcome of elections better than the polls,” says Joyce Berg, a University of Iowa accounting professor who oversees the IEM.
Frederick Boehmke, University of Iowa political science professor and faculty adviser to the Hawkeye Poll, recently explained why to theQuad City Times newspaper.
“A poll asks a person’s preference, what they want to happen,” Boehmke said. People investing in the IEM, however, “are trying to make money, so they pick the candidate or party they think will win. They typically set aside personal preferences to make money.”
Also, a poll is a snapshot at a moment in time, Boehmke said. The market “is about who will win in the end.”
The IEM and another exchange,PredictIt, which is set up in Washington, D.C., under the auspices of Victoria University of Wellington, New Zealand, say the predictions work because the “wisdom of crowds” aggregates the expectations of thousands of bettors who have skin in the game.
A now-defunct exchange calledIntradein 2012 “predicted” the electoral outcome in 49 of the 50 states.
People who put up real money are more likely to consider all the available information than people who just offer their opinions, says Money Talks News financial expert Stacy Johnson.
That information could include economic and business conditions, stock market performance, inflation and employment rates as well as other factors that could sway voters’ moods. Once invested in the outcome, bettors follow campaigns closely. As on a stock exchange and similar to fantasy sports leagues, bettors can make or lose money buying and selling their shares in the outcomes in which they invested.
You can get in on the action.
In exchanges, bettors actually are traders who buy and sell real-money contracts based on their beliefs about “yes or no” election outcomes. Unlike a casino sports book, the exchange does not set odds. The prices reflect the probabilities of various candidate winning a given political race.
PredictIt explains it this way:
You make predictions on future events by buying shares in an outcome, Yes or No. Each outcome has a probability between 1 and 99 percent, which is converted into U.S. cents.
“For example, Trader A thinks an event has at least a 60 percent chance of taking place so she offers 60 cents for a Yes share. PredictIt matches her offer with that of Trader B, who is willing to pay 40 cents for a No share. Each trader now owns a share in the market for this event on opposite sides. … If an event does take place, all Yes shares are redeemed at $1. Shares in No become worthless. If the event does not take place before the market closes, traders holding shares in No will be paid $1, while Yes shares will be worthless.
At the IEM, you can open an account for $5 to $200.
If you just want to look, check who’s leading the popular bets.
For the moment, according to the exchanges and other betting venues, the odds-on favorite is Hillary Clinton. That doesn’t mean bettors favor Hillary’s politics over those of Bernie Sanders, her rival for the Democratic nomination, or Republican front-runner Donald Trump. It just means they bet she wins. The likelihood of a Trump presidency, according to bettors, is less than 20 percent.
Both the IEM and PredictIt offer markets in who will be the GOP and Democratic presidential nominees. IEM has a market in which party will win the 2016 election as well as one in which you can bet on how the parties will share the popular vote. As of March 11, it was Democrats, about 55 percent, leading Republicans, 45 percent.
The IEM also has a market on who will control Congress (“Republican House, Democratic Senate” is leading).
PredictIt also has bets on upcoming party primaries, including Ohio (Kasich beating Trump, Clinton beating Sanders) and Illinois (Trump trouncing Cruz, Clinton trouncing Sanders) as well as topics such as whether the GOP will have a brokered convention (No is beating Yes) and will Marco Rubio drop out by March 18 (Yes is beating No).
• Election Betting Odds: Run byFox Business reporterJohn Stossel and his producer, Maxim Lott, Election Betting Odds features odds derived from an exchange,Betfair.com, which does not accept American traders due to regulations. It recently showed Clinton with a 64 percent probability of winning the White House and Trump with a 19 percent chance.
• FiveThirtyEight: This site is run by Nate Silver, known for calling the results in 49 out of 50 states in 2008 and all 50 states in 2012, FiveThirtyEight is predicting outcomes from primaries and caucuses based on data from polls and endorsements.
• PredictWise:Run by David Rothschild, an economist at Microsoft Research in New York City, PredictWise aggregates data on politics as well as sports, finance and entertainment. The site says it is does not favor gambling. It does indicate the Democratic nominee has a 69 percent chance of winning the White House compared with the Republican candidate’s 31 percent chance of winning. It also predicts Clinton will be the Democratic nominee by a better than 9-1 ratio over Sanders, and that Trump has a 76 percent probability of winning the GOP nomination.
• Pinnacle Sports: At the Curacao-licensed online betting site, Clinton has the best odds.
• Paddy Power: An online gambling site that mainly features sports, Paddy Power takes bets (not from the United States) onU.S. politics, too. It has Clinton as favored to win; Trump has the second-best odds.
• Predictious: Established after the demise of Intrade, Ireland-based Predictious exchange allows you to buy and sell contracts using Bitcoins, the virtual currency.
Despite all these predictions, they could be dead wrong, Johnson points out.
Ahead of the March 1 Super Tuesday elections,PredictItbettors andPredictWisesaid Trump would win 10 of 11 states and would lose only to Ted Cruz in Cruz’s home state, Texas. Cruz did win in Texas, but he also took Oklahoma and Alaska while Rubio won Minnesota; Trump won in seven states: Alabama, Arkansas, Georgia, Massachusetts, Tennessee, Vermont and Virginia.
So, while you might want to get a handle on the odds for your favorite candidate — and bettors can help — in the voting booth, you need to weigh that with your political convictions.
“You need to do your own research, pick your own candidate and then back that candidate with your vote, no matter what gamblers, polls or pundits say,” he said.
If you were betting on the election, where would you put your money? Does that pick line up with your politics? Share with us in comments below or on ourFacebook page.
This article was originally published onMoneyTalksNews.comas'Can you Pick the 2016 Election Winners Without TV Analysts? Here’s a Better Bet'.
• A Way to Master Income Taxes — at Last — and Save Money
• 7 Ways Donald Trump is Destroying His Brand and 4 Ways He’s Improving It
• Could These 12 Weird Tax Deductions Save You Money? || For Mac Users, The Security Bubble Has Burst: Apple's Mac operating systems are known for their resistance to malware, viruses, hackers and ransomware, which is one reason many people opt for Mac computers.
Still, they're not invincible, and as a security company recently reported, Mac users should be aware of potential threats. Researchers atPalo Alto Networksreported finding "the first fully functional ransomware seen on the OS X platform," according to a March 6 post on their site.
What Is Ransomware?
Ransomware is what it sounds like: Cyber criminals infiltrate your computer and hold it (or more specifically, its data) hostage. They demand you pay them if you ever want your files back. They often want payment in digital currency like Bitcoin, because these transactions are difficult to trace — and it's a hassle for the victim to acquire and transfer.
Apple did not immediately respond to request for comment on the reported attack. However, Palo Alto said in its blog post that, after it reported the occurrence to Apple, the Mac maker shut down the infiltration and updated its anti-virus system.
How to Protect Yourself
Ransomware attacks can be particularly stressful for consumers if the stolen data includes personal information, work data or irreplaceable files (think photos). Not only is this a case to back up your hard drive, it's also a reminder that you may want to install anti-virus software or malware protection on your computer, no matter how secure you think it is.
Guarding your personal information is no joke. Losing your sensitive information to a criminal puts you at risk foridentity theft. It can take a lot of time and money to recover from identity theft, not to mention the credit damage you might suffer. On top of that, if someone gets access to your Social Security number, the risk of fraud never goes away, because the Social Security Administration rarely changes numbers.
Protecting your devices goes hand-in-hand with habits like reviewing your financial accounts for unauthorized activity andmonitoring your creditforsigns of fraud. (You can see afree summary of your credit report, updated each month,on Credit.com.)
Taking steps to prevent cyberattacks is important, but so is having a plan for how to deal with one if it happens. Ideally, such planning will make the incident less stressful and less costly. You can report cyber crime to the Federal Bureau of Investigation and gohere to learn what to do if you are a victim of identity theft.
More from Credit.com
• How to Use Credit Monitoring to Protect Your Child's Identity
• Does Credit Repair Work? Can Credit Repair Companies Help?
• What Is a FICO Score? || For Mac Users, The Security Bubble Has Burst: Apple's Mac operating systems are known for their resistance to malware, viruses, hackers and ransomware, which is one reason many people opt for Mac computers. Still, they're not invincible, and as a security company recently reported, Mac users should be aware of potential threats. Researchers at Palo Alto Networks reported finding "the first fully functional ransomware seen on the OS X platform," according to a March 6 post on their site. What Is Ransomware? Ransomware is what it sounds like: Cyber criminals infiltrate your computer and hold it (or more specifically, its data) hostage. They demand you pay them if you ever want your files back. They often want payment in digital currency like Bitcoin, because these transactions are difficult to trace — and it's a hassle for the victim to acquire and transfer. Apple did not immediately respond to request for comment on the reported attack. However, Palo Alto said in its blog post that, after it reported the occurrence to Apple, the Mac maker shut down the infiltration and updated its anti-virus system. How to Protect Yourself Ransomware attacks can be particularly stressful for consumers if the stolen data includes personal information, work data or irreplaceable files (think photos). Not only is this a case to back up your hard drive, it's also a reminder that you may want to install anti-virus software or malware protection on your computer, no matter how secure you think it is. Guarding your personal information is no joke. Losing your sensitive information to a criminal puts you at risk for identity theft . It can take a lot of time and money to recover from identity theft, not to mention the credit damage you might suffer. On top of that, if someone gets access to your Social Security number, the risk of fraud never goes away, because the Social Security Administration rarely changes numbers. Protecting your devices goes hand-in-hand with habits like reviewing your financial accounts for unauthorized activity and monitoring your credit for signs of fraud . (You can see a free summary of your credit report, updated each month, on Credit.com.) Story continues Taking steps to prevent cyberattacks is important, but so is having a plan for how to deal with one if it happens. Ideally, such planning will make the incident less stressful and less costly. You can report cyber crime to the Federal Bureau of Investigation and go here to learn what to do if you are a victim of identity theft . More from Credit.com How to Use Credit Monitoring to Protect Your Child's Identity Does Credit Repair Work? Can Credit Repair Companies Help? What Is a FICO Score? || This student-loan startup says it has the killer feature to beat big lenders: As you've followed the 2016 presidential campaign cycle, you've no doubt heard mention of the student debt crisis. Earnest , a lending startup that refinances student loans and originates personal loans, thinks it can help. Loan-refinancing may not seem like the sexiest corner of fintech, but it has very recently become very hot: SoFi (Social Finance), which provides student loans, mortgages and other kinds of loans, scored a $1 billion investment from Softbank in September. The startup advertised during the Super Bowl in February. Smaller startups like Zest Finance use big data to aid underwriting for big lenders, while CommonBond focuses on re-financing. Marketplaces like Lending Club ( LC ) and Lending Tree ( TREE ) still advertise heavily as the best places to shop for loans. And all of these newer players claim they have the technology to compete with massive incumbents like Sallie Mae ( SLM ), Wells Fargo ( WFC ) and JPMorgan ( JPM ). Earnest CEO Louis Beryl says his company has the best strategic advantage of all: its recently launched precision pricing. The tool allows an Earnest customer to select any monthly payment on a loan and change it on the fly; the interest rate will adjust to match. That might sound like the kind of simple function that anyone with a student loan should have been able to do already, but no other lenders yet offer it. A traditional lender provides limited choices for the repayment period—typically five, 10, or 15 years' time. An Earnest customer, using a slider on Earnest's web site, can tweak the monthly payment they want to make to, say, $1,000 a month, and Earnest will react accordingly. "$1,000 a month might mean a 10-and-a-half year loan, not a 10-year loan or a 15-year loan," Beryl says. "We'll give that person the interest rate that corresponds to a 10-and-a-half-year loan." Beryl launched Earnest in 2013. He got the idea for the company after experiencing his own frustrations when he was denied loans in grad school. "I remember thinking, 'Why weren't financial institutions taking the time to understand me more deeply?' And we had a massive technology disruption where all of our accounts were online now." He jumped on the opportunity. Now Earnest is growing so fast that it originated 50 times as many loans in 2015 as it did in 2014. More than 40 million Americans have at least one student loan. Story continues It wasn't so long ago that if you were a student with a loan who wanted to pay more this month than usual, you had to fill out an elaborate form and snail-mail it to the lender just to have the privilege of paying. Behavior has shifted, Beryl says. In an era of mobile banking, young people are attuned to doing their banking without the face-to-face interaction that traditionally would have been involved in something as weighty as refinancing a loan. Earnest, for now, has no app, but will launch one this year. Earnest says that with its precision pricing tool, clients have saved an average $17,936 after refinancing. But eager fintech-savvy student borrowers, beware: Refinancing isn't for everyone. As Yahoo Finance's Mandi Woodruff has warned , refinancing a student loan can be the wrong move in some cases. Remember that if you lower your monthly payment, it will give you more flexibility -- which is especially helpful if you're having trouble repaying the debt -- but you'll also be extending your loan term and end up paying more over the life of the loan . -- Daniel Roberts is a writer at Yahoo Finance, covering sports business and technology. Read more: This app wants to be the social network of the future-- literally Here's how you can invest in the blockchain Facebook, Amazon, and Google all want to stream NFL games Here's a sign that PayPal is embracing Bitcoin || This student-loan startup says it has the killer feature to beat big lenders: As you've followed the 2016 presidential campaign cycle, you've no doubt heard mention of the student debt crisis.Earnest, a lending startup that refinances student loans and originates personal loans, thinks it can help.
Loan-refinancing may not seem like the sexiest corner of fintech, but it has very recently become very hot:SoFi(Social Finance), which provides student loans, mortgages and other kinds of loans, scored a $1 billion investment from Softbank in September. The startup advertised during the Super Bowl in February. Smaller startups like Zest Finance use big data to aid underwriting for big lenders, while CommonBond focuses on re-financing. Marketplaces like Lending Club (LC) and Lending Tree (TREE) still advertise heavily as the best places to shop for loans. And all of these newer players claim they have the technology to compete with massive incumbents like Sallie Mae (SLM), Wells Fargo (WFC) and JPMorgan (JPM).
Earnest CEO Louis Beryl says his company has the best strategic advantage of all: its recently launched precision pricing. The tool allows an Earnest customer to select any monthly payment on a loan and change it on the fly; the interest rate will adjust to match. That might sound like the kind of simple function that anyone with a student loan should have been able to do already, but no other lenders yet offer it. A traditional lender provides limited choices for the repayment period—typically five, 10, or 15 years' time. An Earnest customer, using a slider on Earnest's web site, can tweak the monthly payment they want to make to, say, $1,000 a month, and Earnest will react accordingly. "$1,000 a month might mean a 10-and-a-half year loan, not a 10-year loan or a 15-year loan," Beryl says. "We'll give that person the interest rate that corresponds to a 10-and-a-half-year loan."
Beryl launched Earnest in 2013. He got the idea for the company after experiencing his own frustrations when he was denied loans in grad school. "I remember thinking, 'Why weren't financial institutions taking the time to understand me more deeply?' And we had a massive technology disruption where all of our accounts were online now." He jumped on the opportunity. Now Earnest is growing so fast that it originated 50 times as many loans in 2015 as it did in 2014. More than 40 million Americans have at least one student loan.
It wasn't so long ago that if you were a student with a loan who wanted to pay more this month than usual, you had to fill out an elaborate form and snail-mail it to the lender just to have the privilege of paying. Behavior has shifted, Beryl says. In an era of mobile banking, young people are attuned to doing their banking without the face-to-face interaction that traditionally would have been involved in something as weighty as refinancing a loan. Earnest, for now, has no app, but will launch one this year.
Earnest says that with its precision pricing tool, clients have saved an average $17,936 after refinancing. But eager fintech-savvy student borrowers, beware: Refinancing isn't for everyone. As Yahoo Finance's Mandi Woodruffhas warned, refinancing a student loan can be the wrong move in some cases. Remember that if you lower your monthly payment, it will give you more flexibility -- which is especially helpful if you're having trouble repaying the debt -- but you'll also be extending your loan term and end up paying more over thelife of the loan.
--
Daniel Roberts is a writer at Yahoo Finance, covering sports business and technology.Read more:
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Tim Seymour was a seller of the iShares MSCI Emerging Markets ETF(NYSE Arca: EEM).
Steve Grasso was a seller of Freeport-McMoRan(FCX).
Brian Kelly was a buyer of the iShares Silver Trust(NYSE Arca: SLV).
Guy Adami was a buyer of Coca-Cola(KO)for the second day in a row.
Trader disclosure: On March 10, 2016, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders:Guy Adami is long CELG, EXAS, GDX, INTC, Guy Adami's wife, Linda Snow, works at Merck. Brian Kelly is long BBRY, Bitcoin, GLD, GLD puts, SH, SLV, TLT, US Dollar, UUP, Yen; he is short Aussie Dollar, BLK, British Pound, CS, DB, Euro, EWH, FRC, Hong Kong Dollar, UBS, SPY, Yuan, 5-Year Note Futures. Steve Grasso is long AAPL, BA, CC, DD, DIS, DECK, EVGN, KBH, MJNA, MU, OLN, PFE, PHM, T, TWTR, GDX sold BAC firm is long OXY, BP, CVX, RIG, FCX kids own EFA, EFG, EWJ, IJR, SPY. Tim Seymour is long AAPL, AVP, BAC, BBRY, DO, F, FCX, GM, GOOGL, INTC, JCP, NKE, SINA, T, TWTR, VZ, XOM. Tim's firm is long BABA, BIDU, CLF, KO, MCD, PEP, PF, SAVE, SBUX, VALE, WMT,YHOO, short HYG, IWM.
More From CNBC
• Top News and Analysis
• Latest News Video
• Personal Finance || Your first trade for Friday: The " Fast Money " traders delivered their final trades of the day. Tim Seymour was a seller of the iShares MSCI Emerging Markets ETF (NYSE Arca: EEM) . Steve Grasso was a seller of Freeport-McMoRan ( FCX ) . Brian Kelly was a buyer of the iShares Silver Trust (NYSE Arca: SLV) . Guy Adami was a buyer of Coca-Cola ( KO ) for the second day in a row. Trader disclosure: On March 10, 2016, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Guy Adami is long CELG, EXAS, GDX, INTC, Guy Adami's wife, Linda Snow, works at Merck. Brian Kelly is long BBRY, Bitcoin, GLD, GLD puts, SH, SLV, TLT, US Dollar, UUP, Yen; he is short Aussie Dollar, BLK, British Pound, CS, DB, Euro, EWH, FRC, Hong Kong Dollar, UBS, SPY, Yuan, 5-Year Note Futures. Steve Grasso is long AAPL, BA, CC, DD, DIS, DECK, EVGN, KBH, MJNA, MU, OLN, PFE, PHM, T, TWTR, GDX sold BAC firm is long OXY, BP, CVX, RIG, FCX kids own EFA, EFG, EWJ, IJR, SPY. Tim Seymour is long AAPL, AVP, BAC, BBRY, DO, F, FCX, GM, GOOGL, INTC, JCP, NKE, SINA, T, TWTR, VZ, XOM. Tim's firm is long BABA, BIDU, CLF, KO, MCD, PEP, PF, SAVE, SBUX, VALE, WMT,YHOO, short HYG, IWM. More From CNBC Top News and Analysis Latest News Video Personal Finance || Ethereum Cloud Mining and Bitcoin Cloud Mining With Lifetime Contracts and Proof of Mining Offered by HashFlare: With over 3 years experience in the industry Hashflare is pleased to announce one year Ethereum cloud mining contracts with no maintenance fees
TALLIN, ESTONIA / ACCESSWIRE / March 8, 2016 /Hashflare is pleased to announce one yearEthereum cloud mining contracts with no maintenance fees which represents the best value on the market, after users sign up for a free account.
Run by established cryptocurrency mining hardware provider HashCoins, which has over 3 years experience in the industry, HashFlare offers the ultimate Bitcoin, Scrypt and Ethereum cloud mining experience for users.
An important feature of the HashFlare platform is that customers can see and monitor their hashrate live, and even choose the mining pool they wish to mine on. This demonstrates that HashFlare is running a real cloud mining operation and is renting real mining hardware to users. Users can also find the most profitable mining pool for their hashing power.
HashFlare also offer instant Bitcoin withdrawals, lifetime contracts with no fixed end date, user mining pool allocation, fixed fees, and a user dashboard with highly detailed statistics. More information is available in aHashFlare review on a popular Bitcoin cloud mining and Etheruem cloud mining review site.
Anyone, anywhere worldwide can easily cloud mine Bitcoin, Litecoin and now Ethereum, with no specialized knowledge or the need to maintain specialized mining hardware. All that needs to be done is sign up for a free account on HashFlare and purchase a contract that will instantly begin mining Bitcoin, Litecoin or Ethereum.
To sign up for a free account, and learn more about lifetime Bitcoin, Scrypt, or one year Etheruem cloud mining contracts with NO maintenance fees, which represents the best value on the market, please go to:https://hashflare.io
After creating your free account make sure to use use discount code HF16ETHER12 for the biggest discount possible on Ethereum cloud mining
HashFlare is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to FDIC and other consumer protections. This press release is for informational purposes only.
For more information about us, please visithttps://hashflare.io/r/CCF0028F-ETH
Contact Info:
Name: HashFlareOrganization: HashFlare
SOURCE:HashFlare || Ethereum Cloud Mining and Bitcoin Cloud Mining With Lifetime Contracts and Proof of Mining Offered by HashFlare: With over 3 years experience in the industry Hashflare is pleased to announce one year Ethereum cloud mining contracts with no maintenance fees
TALLIN, ESTONIA / ACCESSWIRE / March 8, 2016 /Hashflare is pleased to announce one yearEthereum cloud mining contracts with no maintenance fees which represents the best value on the market, after users sign up for a free account.
Run by established cryptocurrency mining hardware provider HashCoins, which has over 3 years experience in the industry, HashFlare offers the ultimate Bitcoin, Scrypt and Ethereum cloud mining experience for users.
An important feature of the HashFlare platform is that customers can see and monitor their hashrate live, and even choose the mining pool they wish to mine on. This demonstrates that HashFlare is running a real cloud mining operation and is renting real mining hardware to users. Users can also find the most profitable mining pool for their hashing power.
HashFlare also offer instant Bitcoin withdrawals, lifetime contracts with no fixed end date, user mining pool allocation, fixed fees, and a user dashboard with highly detailed statistics. More information is available in aHashFlare review on a popular Bitcoin cloud mining and Etheruem cloud mining review site.
Anyone, anywhere worldwide can easily cloud mine Bitcoin, Litecoin and now Ethereum, with no specialized knowledge or the need to maintain specialized mining hardware. All that needs to be done is sign up for a free account on HashFlare and purchase a contract that will instantly begin mining Bitcoin, Litecoin or Ethereum.
To sign up for a free account, and learn more about lifetime Bitcoin, Scrypt, or one year Etheruem cloud mining contracts with NO maintenance fees, which represents the best value on the market, please go to:https://hashflare.io
After creating your free account make sure to use use discount code HF16ETHER12 for the biggest discount possible on Ethereum cloud mining
HashFlare is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to FDIC and other consumer protections. This press release is for informational purposes only.
For more information about us, please visithttps://hashflare.io/r/CCF0028F-ETH
Contact Info:
Name: HashFlareOrganization: HashFlare
SOURCE:HashFlare
[Social Media Buzz]
ProjectCoin: LIVE: Profit = $134.82 (7.26 %). BUY B4.81 @ $410.00 (#VirCurex). SELL @ $414.47 (#Bitfinex) #bitcoin #btc - … || 1 KOBO Price: YoBit = 0.00000598 BTC (0.00247751 USD) #KOBO #BTC #KOBOprice #Kobocoin 2016-03-16 13:00 pic.twitter.com/ryq0P0pG5b || Average Bitcoin market price is: USD 416.00, EUR 375.62 || Current price: 373.32€ $BTCEUR $btc #bitcoin 2016-03-16 07:00:04 CET || $415.99 #btce;
$415.32 #bitstamp;
$415.00 #bitfinex;
$414.67 #coinbase;
#bitcoin #btc || BitcoinMuseum: ...
|
420.62, 409.55, 410.44, 413.76, 413.31, 418.09, 418.04, 416.39, 417.18, 417.95
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Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 703.70, 658.66, 683.66, 670.63, 677.33, 640.56, 666.52, 650.96, 649.36, 647.66, 664.55, 654.47, 658.08, 663.26, 660.77, 679.46, 673.11, 672.86, 665.68, 665.01, 650.62, 655.56, 661.28, 654.10, 651.78, 654.35, 655.03, 656.99, 655.05, 624.68, 606.27, 547.47, 566.35, 578.29, 575.04, 587.78, 592.69, 591.05, 587.80, 592.10, 589.12, 587.56, 585.59, 570.47, 567.24, 577.44, 573.22, 574.32, 575.63, 581.70, 581.31, 586.75, 583.41, 580.18, 577.76, 579.65, 569.95, 573.91, 574.11, 577.50, 575.47, 572.30, 575.54, 598.21, 608.63, 606.59, 610.44, 614.54, 626.32, 622.86, 623.51, 606.72, 608.24, 609.24, 610.68, 607.16, 606.97, 605.98, 609.87, 609.23, 608.31, 597.15, 596.30, 602.84, 602.62, 600.83, 608.04, 606.17, 604.73, 605.69.
|
[Bitcoin Technical Analysis for 2016-09-29]
Volume: 55658600, RSI (14-day): 52.43, 50-day EMA: 602.95, 200-day EMA: 554.24
[Wider Market Context]
Gold Price: 1321.70, Gold RSI: 47.36
Oil Price: 47.83, Oil RSI: 58.37
[Recent News (last 7 days)]
Traders look for opportunities to jump into oil rally after OPEC deal: The "Fast Money" traders debated how to invest in the energy sector as oil rallied on the back of an OPEC production limit agreement on Wednesday.
Trader Guy Adami said oil prices and companies like Anadarko Petroleum(APC)could continue to see gains through the rest of the week. He said the refiners "are probably dead money for a little bit."
Trader Karen Finerman agreed and said there's probably more room to run for Anadarko.
Trader Tim Seymour said investors should look for companies with "impaired balance sheets because they're the ones that have the most to gain." He said it's probably better to avoid big integrated oil companies. Instead, investors should look at the VanEck Vectors Oil Services ETF(NYSE Arca: OIH), Seymour said.
Trader Brian Kelly also said that the oil services ETF is a good choice. He said it's "the greatest risk-reward in the oil space out there right now." He said if the ETF dips below $26, it would be a great buy. It closed at $28.10 on Wednesday.
Disclosures:
TIM SEYMOUR
Tim Seymour is long APC, AVP, BAC, BBRY, CLF, DO, DVYE, EDC, EWZ, F, FB, FCX, FXI, GM, GOOGL, GE, INTC, LQD,MCD, PG, RACE, RAI, RH, RL, SINA, T, TWTR, VALE, VZ, XOM and short: SPY, XRT. His firm is long ABX, BABA, BIDU, CBD, CLF, EWZ, F, HD, KO, MCD, MPEL, PEP, PF, SAVE, SBUX, SINA, VALE, VIAB, WMT, WEN, X, YHOO, and short EWG, HYG, IWM
KAREN FINERMAN
Karen Finerman is long AAL, BAC, C, DAL, FB, FL, GOGO, GOOG, GOOGL, JPM, LYV, KORS, KORS calls, KORS puts, M, MA, SEDG, SPY puts, UAL, URI, WIFI long call spreads. Her firm is long ANTM, AAPL, BAC, C, C calls, FB, GOOG, GOOGL, JPM, JPM calls, KORS, LYV, M, MOH, PLCE, SPY puts, URI, WIFI, her firm is short IWM, MDY. Finerman is on the board of GrafTech International.
BRIAN KELLY
Brian Kelly is long Bitcoin, CME, DXJ, GDX, KBE, SLV, TLT, XLF, XLRE XOP, WTI, US Dollar UUP; he is short the euro and the Japanese yen.
GUY ADAMI
Guy Adami is long CELG, EXAS, GDX, INTC. Adami's wife, Linda Snow, works at Merck. || Traders look for opportunities to jump into oil rally after OPEC deal: The " Fast Money " traders debated how to invest in the energy sector as oil rallied on the back of an OPEC production limit agreement on Wednesday. Trader Guy Adami said oil prices and companies like Anadarko Petroleum ( APC ) could continue to see gains through the rest of the week. He said the refiners "are probably dead money for a little bit." Trader Karen Finerman agreed and said there's probably more room to run for Anadarko. Trader Tim Seymour said investors should look for companies with "impaired balance sheets because they're the ones that have the most to gain." He said it's probably better to avoid big integrated oil companies. Instead, investors should look at the VanEck Vectors Oil Services ETF (NYSE Arca: OIH) , Seymour said. Trader Brian Kelly also said that the oil services ETF is a good choice. He said it's "the greatest risk-reward in the oil space out there right now." He said if the ETF dips below $26, it would be a great buy. It closed at $28.10 on Wednesday. Disclosures: TIM SEYMOUR Tim Seymour is long APC, AVP, BAC, BBRY, CLF, DO, DVYE, EDC, EWZ, F, FB, FCX, FXI, GM, GOOGL, GE, INTC, LQD,MCD, PG, RACE, RAI, RH, RL, SINA, T, TWTR, VALE, VZ, XOM and short: SPY, XRT. His firm is long ABX, BABA, BIDU, CBD, CLF, EWZ, F, HD, KO, MCD, MPEL, PEP, PF, SAVE, SBUX, SINA, VALE, VIAB, WMT, WEN, X, YHOO, and short EWG, HYG, IWM KAREN FINERMAN Karen Finerman is long AAL, BAC, C, DAL, FB, FL, GOGO, GOOG, GOOGL, JPM, LYV, KORS, KORS calls, KORS puts, M, MA, SEDG, SPY puts, UAL, URI, WIFI long call spreads. Her firm is long ANTM, AAPL, BAC, C, C calls, FB, GOOG, GOOGL, JPM, JPM calls, KORS, LYV, M, MOH, PLCE, SPY puts, URI, WIFI, her firm is short IWM, MDY. Finerman is on the board of GrafTech International. BRIAN KELLY Brian Kelly is long Bitcoin, CME, DXJ, GDX, KBE, SLV, TLT, XLF, XLRE XOP, WTI, US Dollar UUP; he is short the euro and the Japanese yen. GUY ADAMI Guy Adami is long CELG, EXAS, GDX, INTC. Adami's wife, Linda Snow, works at Merck. || Microsoft and BAML to Test Blockchain for Trade Finance: Microsoft CorporationMSFT and Bank of America Corporation’s BAC corporate and investment banking division, Bank of America Merrill Lynch (‘’BAML’’) have teamed up to implement blockchain technology in trade finance to facilitate faster, safer, cheaper and more transparent transactions.
The main objective of the collaboration is to develop and test blockchain technology before commercializing it.
We note that Microsoft’s very own cloud-based platform Azure will be utilized to test the project.
What is Blockchain?
Simply put, a blockchain is a chain of blocks, where each block represents an electronic record that cannot be revised or tampered with once it is included in the chain. Additionally, each block has its own timestamp and a link to an earlier block in the chain, which enables all the parties to have easy access to information via a secure network.
Benefits of the Blockchain
Speed:Having its origins in Bitcoin (the digital currency), the blockchain technology is believed to speed up all types of transactions as there is no need for manual processing or authentication by intermediaries.
Security:Currently trade transactions take anywhere between 7 to 10 days to complete and are vulnerable to document frauds as they involve paper trails that are often complicated. Blockchain does away with all that fuss.
Chronology:Each block in the chain is connected to an earlier block and has its own timestamp that facilitates easy record keeping in a chronological manner.
Our Take
We note that businesses throughout the world are gradually making the switch to digitization in a bid to remain competitive, agile and drive growth and blockchain could prove to be the tool to facilitate the transformation.
Though the technology is still at a nascent stage, this is not the first time that it will be tested. Per some media reports, Barclays PLC BCS and a start-up based in Israel announced this month that they have successfully deployed blockchain technology to carry out a real-world trade deal that is a first of its kind.
MICROSOFT CORP Price
MICROSOFT CORP Price | MICROSOFT CORP Quote
Zacks Rank & Key Picks
At present, Microsoft carries a Zacks Rank #3 (Hold).
A better-ranked stock in the broader technology space is Avid Technology, Inc. AVID, sporting a Zacks Rank #1 (Strong Buy). You can seethe complete list of today’s Zacks #1 Rank stocks here.
We note that the estimates for Avid for 2016 and 2017 have remained steady at $2.08 and $1.60, respectively over the last 7 days.
Confidential from Zacks
Beyond this Analyst Blog, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand.Click to see them now>>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free reportBANK OF AMER CP (BAC): Free Stock Analysis ReportBARCLAY PLC-ADR (BCS): Free Stock Analysis ReportMICROSOFT CORP (MSFT): Free Stock Analysis ReportAVID TECH INC (AVID): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research || Microsoft and BAML to Test Blockchain for Trade Finance: Microsoft Corporation MSFT and Bank of America Corporation’s BAC corporate and investment banking division, Bank of America Merrill Lynch (‘’BAML’’) have teamed up to implement blockchain technology in trade finance to facilitate faster, safer, cheaper and more transparent transactions. The main objective of the collaboration is to develop and test blockchain technology before commercializing it. We note that Microsoft’s very own cloud-based platform Azure will be utilized to test the project. What is Blockchain? Simply put, a blockchain is a chain of blocks, where each block represents an electronic record that cannot be revised or tampered with once it is included in the chain. Additionally, each block has its own timestamp and a link to an earlier block in the chain, which enables all the parties to have easy access to information via a secure network. Benefits of the Blockchain Speed: Having its origins in Bitcoin (the digital currency), the blockchain technology is believed to speed up all types of transactions as there is no need for manual processing or authentication by intermediaries. Security: Currently trade transactions take anywhere between 7 to 10 days to complete and are vulnerable to document frauds as they involve paper trails that are often complicated. Blockchain does away with all that fuss. Chronology: Each block in the chain is connected to an earlier block and has its own timestamp that facilitates easy record keeping in a chronological manner. Our Take We note that businesses throughout the world are gradually making the switch to digitization in a bid to remain competitive, agile and drive growth and blockchain could prove to be the tool to facilitate the transformation. Though the technology is still at a nascent stage, this is not the first time that it will be tested. Per some media reports, Barclays PLC BCS and a start-up based in Israel announced this month that they have successfully deployed blockchain technology to carry out a real-world trade deal that is a first of its kind. Story continues MICROSOFT CORP Price MICROSOFT CORP Price | MICROSOFT CORP Quote Zacks Rank & Key Picks At present, Microsoft carries a Zacks Rank #3 (Hold). A better-ranked stock in the broader technology space is Avid Technology, Inc. AVID, sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here. We note that the estimates for Avid for 2016 and 2017 have remained steady at $2.08 and $1.60, respectively over the last 7 days. Confidential from Zacks Beyond this Analyst Blog, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report BANK OF AMER CP (BAC): Free Stock Analysis Report BARCLAY PLC-ADR (BCS): Free Stock Analysis Report MICROSOFT CORP (MSFT): Free Stock Analysis Report AVID TECH INC (AVID): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research || At your service: cyber criminals for hire to militants, EU says: THE HAGUE (Reuters) - Cybercriminals offering contract services for hire offer militant groups the means to attack Europe but such groups have yet to employ such techniques in major attacks, EU police agency Europol said on Wednesday. "There is currently little evidence to suggest that their cyber-attack capability extends beyond common website defacement," it said in its annual cybercrime threat assessment in a year marked by Islamic State violence in Europe. But the internet's criminal shadow the Darknet had potential to be exploited by militants taking advantage of computer experts offering "crime as a service", Europol added: "The availability of cybercrime tools and services, and illicit commodities (including firearms) on the Darknet, provide ample opportunities for this situation to change." Overall, the report found, existing trends in cybercrime continued to grow, with some of the European Union's member states reporting more cyber crimes than the traditional variety. "Europol is concerned about how an expanding cybercriminal community has been able to further exploit our increasing dependence on technology and the internet," its director, Rob Wainwright, said in a statement. "We have also seen a marked shift in cyber-facilitated activities relating to trafficking in human beings, terrorism and other threats." "Ransomware" - programmes which break into databases and demand payment for unlocking codes via virtual currencies such as Bitcoin - continued to expand as a problem, as did highly targeted "phishing" attacks to extract security data from senior figures - "CEO fraud" - and video streaming of child abuse. Attacks on bank cash-machine networks were also increasing, the report found, as were frauds exploiting new contactless payment card transactions, while traditional scams involving the physical presence of a card had been successfully reduced. (Reporting by Alastair Macdonald in Brussels; Editing by Jonathan Oatis) || At your service: cyber criminals for hire to militants, EU says: THE HAGUE (Reuters) - Cybercriminals offering contract services for hire offer militant groups the means to attack Europe but such groups have yet to employ such techniques in major attacks, EU police agency Europol said on Wednesday. "There is currently little evidence to suggest that their cyber-attack capability extends beyond common website defacement," it said in its annual cybercrime threat assessment in a year marked by Islamic State violence in Europe. But the internet's criminal shadow the Darknet had potential to be exploited by militants taking advantage of computer experts offering "crime as a service", Europol added: "The availability of cybercrime tools and services, and illicit commodities (including firearms) on the Darknet, provide ample opportunities for this situation to change." Overall, the report found, existing trends in cybercrime continued to grow, with some of the European Union's member states reporting more cyber crimes than the traditional variety. "Europol is concerned about how an expanding cybercriminal community has been able to further exploit our increasing dependence on technology and the internet," its director, Rob Wainwright, said in a statement. "We have also seen a marked shift in cyber-facilitated activities relating to trafficking in human beings, terrorism and other threats." "Ransomware" - programmes which break into databases and demand payment for unlocking codes via virtual currencies such as Bitcoin - continued to expand as a problem, as did highly targeted "phishing" attacks to extract security data from senior figures - "CEO fraud" - and video streaming of child abuse. Attacks on bank cash-machine networks were also increasing, the report found, as were frauds exploiting new contactless payment card transactions, while traditional scams involving the physical presence of a card had been successfully reduced. (Reporting by Alastair Macdonald in Brussels; Editing by Jonathan Oatis) || At your service: cyber criminals for hire to militants, EU says: THE HAGUE (Reuters) - Cybercriminals offering contract services for hire offer militant groups the means to attack Europe but such groups have yet to employ such techniques in major attacks, EU police agency Europol said on Wednesday.
"There is currently little evidence to suggest that their cyber-attack capability extends beyond common website defacement," it said in its annual cybercrime threat assessment in a year marked by Islamic State violence in Europe.
But the internet's criminal shadow the Darknet had potential to be exploited by militants taking advantage of computer experts offering "crime as a service", Europol added: "The availability of cybercrime tools and services, and illicit commodities (including firearms) on the Darknet, provide ample opportunities for this situation to change."
Overall, the report found, existing trends in cybercrime continued to grow, with some of the European Union's member states reporting more cyber crimes than the traditional variety.
"Europol is concerned about how an expanding cybercriminal community has been able to further exploit our increasing dependence on technology and the internet," its director, Rob Wainwright, said in a statement. "We have also seen a marked shift in cyber-facilitated activities relating to trafficking in human beings, terrorism and other threats."
"Ransomware" - programs which break into databases and demand payment for unlocking codes via virtual currencies such as Bitcoin - continued to expand as a problem, as did highly targeted "phishing" attacks to extract security data from senior figures - "CEO fraud" - and video streaming of child abuse.
Attacks on bank cash-machine networks were also increasing, the report found, as were frauds exploiting new contactless payment card transactions, while traditional scams involving the physical presence of a card had been successfully reduced.
(Reporting by Alastair Macdonald in Brussels; Editing by Jonathan Oatis) || At your service: cyber criminals for hire to militants, EU says: THE HAGUE (Reuters) - Cybercriminals offering contract services for hire offer militant groups the means to attack Europe but such groups have yet to employ such techniques in major attacks, EU police agency Europol said on Wednesday. "There is currently little evidence to suggest that their cyber-attack capability extends beyond common website defacement," it said in its annual cybercrime threat assessment in a year marked by Islamic State violence in Europe. But the internet's criminal shadow the Darknet had potential to be exploited by militants taking advantage of computer experts offering "crime as a service", Europol added: "The availability of cybercrime tools and services, and illicit commodities (including firearms) on the Darknet, provide ample opportunities for this situation to change." Overall, the report found, existing trends in cybercrime continued to grow, with some of the European Union's member states reporting more cyber crimes than the traditional variety. "Europol is concerned about how an expanding cybercriminal community has been able to further exploit our increasing dependence on technology and the internet," its director, Rob Wainwright, said in a statement. "We have also seen a marked shift in cyber-facilitated activities relating to trafficking in human beings, terrorism and other threats." "Ransomware" - programs which break into databases and demand payment for unlocking codes via virtual currencies such as Bitcoin - continued to expand as a problem, as did highly targeted "phishing" attacks to extract security data from senior figures - "CEO fraud" - and video streaming of child abuse. Attacks on bank cash-machine networks were also increasing, the report found, as were frauds exploiting new contactless payment card transactions, while traditional scams involving the physical presence of a card had been successfully reduced. (Reporting by Alastair Macdonald in Brussels; Editing by Jonathan Oatis) || At your service: cyber criminals for hire to militants, EU says: THE HAGUE (Reuters) - Cybercriminals offering contract services for hire offer militant groups the means to attack Europe but such groups have yet to employ such techniques in major attacks, EU police agency Europol said on Wednesday. "There is currently little evidence to suggest that their cyber-attack capability extends beyond common website defacement," it said in its annual cybercrime threat assessment in a year marked by Islamic State violence in Europe. But the internet's criminal shadow the Darknet had potential to be exploited by militants taking advantage of computer experts offering "crime as a service", Europol added: "The availability of cybercrime tools and services, and illicit commodities (including firearms) on the Darknet, provide ample opportunities for this situation to change." Overall, the report found, existing trends in cybercrime continued to grow, with some of the European Union's member states reporting more cyber crimes than the traditional variety. "Europol is concerned about how an expanding cybercriminal community has been able to further exploit our increasing dependence on technology and the internet," its director, Rob Wainwright, said in a statement. "We have also seen a marked shift in cyber-facilitated activities relating to trafficking in human beings, terrorism and other threats." "Ransomware" - programs which break into databases and demand payment for unlocking codes via virtual currencies such as Bitcoin - continued to expand as a problem, as did highly targeted "phishing" attacks to extract security data from senior figures - "CEO fraud" - and video streaming of child abuse. Attacks on bank cash-machine networks were also increasing, the report found, as were frauds exploiting new contactless payment card transactions, while traditional scams involving the physical presence of a card had been successfully reduced. (Reporting by Alastair Macdonald in Brussels; Editing by Jonathan Oatis) || At your service: cyber criminals for hire to militants, EU says: THE HAGUE (Reuters) - Cybercriminals offering contract services for hire offer militant groups the means to attack Europe but such groups have yet to employ such techniques in major attacks, EU police agency Europol said on Wednesday. "There is currently little evidence to suggest that their cyber-attack capability extends beyond common website defacement," it said in its annual cybercrime threat assessment in a year marked by Islamic State violence in Europe. But the internet's criminal shadow the Darknet had potential to be exploited by militants taking advantage of computer experts offering "crime as a service", Europol added: "The availability of cybercrime tools and services, and illicit commodities (including firearms) on the Darknet, provide ample opportunities for this situation to change." Overall, the report found, existing trends in cybercrime continued to grow, with some of the European Union's member states reporting more cyber crimes than the traditional variety. "Europol is concerned about how an expanding cybercriminal community has been able to further exploit our increasing dependence on technology and the internet," its director, Rob Wainwright, said in a statement. "We have also seen a marked shift in cyber-facilitated activities relating to trafficking in human beings, terrorism and other threats." "Ransomware" - programs which break into databases and demand payment for unlocking codes via virtual currencies such as Bitcoin - continued to expand as a problem, as did highly targeted "phishing" attacks to extract security data from senior figures - "CEO fraud" - and video streaming of child abuse. Attacks on bank cash-machine networks were also increasing, the report found, as were frauds exploiting new contactless payment card transactions, while traditional scams involving the physical presence of a card had been successfully reduced. (Reporting by Alastair Macdonald in Brussels; Editing by Jonathan Oatis) || Liberty Global partners with Ericsson to expand DVR services in Latin America: • LibertyGlobal Group (LiLACGroup) simplifies DVR expansion through Ericsson`s Video Storage and Processing Platform (VSPP) in Latin America
• LiLAC Group`s customers will have access to DVR services, including future updates to support the trend towards time-shifted TV
• Contract strengthens Ericsson`s position as a leading provider of TV and media solutions in Latin America
Ericsson (ERIC) and Liberty Global today confirms a new two-year deal between VTR in Chile and Liberty Cablevision of Puerto Rico, both part of LiLAC Group (Liberty Latin-America and Caribbean, part of Liberty Global Group).
With Ericsson`s Video Storage and Processing Platform (VSPP), the TV operators will be able to expand the reach of their Digital Video Recording (DVR) services (known as Catch-up TV and Restart TV) across their countries.
Latin American TV consumers are rapidly changing their habits and expectations, where they now want to decide what they want to watch and pick-and-mix their own services. The new deal addresses this issue, allowing LiLAC Group to build innovative and compelling consumer experiences.
Ericsson`s VSPP simplifies the recording capabilities and provides enriched functionalities for LiLAC`s linear TV services. It also offers a unique, proven infrastructure that allows for seamless augmentation and replacement of legacy television services with new cloud-based services.
Furthermore, Ericsson`s VSPP provides outstanding performance gains and greatly simplifies Cloud DVR and video on demand (VoD) architectures, allowing operators to avoid many of the complexities and costs associated with these new services.
Adrian Gioia, Head of TV & Media, Ericsson Latin America and Caribbean, says: "We are looking forward to supporting LiLAC Group in delivering ever-improving content, quality and features that delight TV consumers and meet their unique and ever-changing needs. With our solution we are addressing all customer segments with unique configurations, while providing LiLAC Group with the ability to future-proof and grow as they see necessary."
Derek Yeaomans, Logistic Manager at VTR, says: "We consider DVR a very attractive entertainment service for our customers and we are pleased to now provide them with an enriched user experience that lets them enjoy the service even more. Working with Ericsson makes us confident we will continue to succeed in meeting consumer expectations into the future."
With a recent history of more than 50 transformation programs delivered globally, Ericsson`s consulting and systems integration services represent the perfect combination of competence, scale and presence that help TV and media organizations meet their goals. With a global team of media experts ready to take on complex media transformation projects, Ericsson is the market leader in Cloud DVR deployment and services, having performed multiple deployments and with ongoing trials with major Tier 1 operators around the world.
NOTES TO EDITORS
For media kits, backgrounders and high-resolution photos, please visitwww.ericsson.com/press
Ericsson is the driving force behind the Networked Society - a world leader in communications technology and services. Our long-term relationships with every major telecom operator in the world allow people, business and society to fulfill their potential and create a more sustainable future.
Our services, software and infrastructure - especially in mobility, broadband and the cloud- are enabling the telecom industry and other sectors to do better business, increase efficiency, improve the user experience and capture new opportunities.
With approximately 115,000 professionals and customers in 180 countries,we combine global scale with technology and services leadership. We support networks that connect more than 2.5 billion subscribers. Forty percent of the world`s mobile traffic is carried over Ericsson networks. And our investments in research and development ensure that our solutions - and our customers - stay in front.
Founded in 1876, Ericsson has its headquarters in Stockholm, Sweden. Net sales in2015 were SEK 246.9 billion (USD 29.4 billion). Ericsson is listed on NASDAQ OMX stock exchange in Stockholm and the NASDAQ in New York.
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FOR FURTHER INFORMATION, PLEASE CONTACT
Ericsson Corporate CommunicationsPhone: +46 10 719 69 92E-mail:media.relations@ericsson.com
Ericsson Investor RelationsPhone: +46 10 719 00 00E-mail:investor.relations@ericsson.com
About Liberty GlobalLiberty Global is the world`s largest international TV and broadband company, with operations in more than 30 countries across Europe, Latin America and the Caribbean. Liberty Global invests in the infrastructure that empowers its customers to make the most of the digital revolution. Liberty Global`s scale and commitment to innovation enables it to develop market-leading products delivered through next-generation networks that connect its customers who subscribe to over 59 million television, broadband internet and telephony services. Liberty Global also serves over ten million mobile subscribers and offers WiFi service across six million access points.
Liberty Global`s businesses are comprised of two stocks: the Liberty Global Group (NASDAQ: LBTYA, LBTYB and LBTYK) for its European operations, and the LiLAC Group (NASDAQ: LILA and LILAK, OTC Link: LILAB), which consists of its operations in Latin America and the Caribbean.
The Liberty Global Group operates in 12 European countries under the consumer brands Virgin Media, Ziggo, Unitymedia, Telenet and UPC. The LiLAC Group operates in over 20 countries in Latin America and the Caribbean under the consumer brands VTR, Flow, Liberty, Mas Movil and BTC. In addition, the LiLAC Group operates a submarine fiber network throughout the region in over 30 markets.
For more information, visitwww.libertyglobal.comand follow Liberty Global ontwitter,LinkedIn,FacebookandInstagram.
[["Oskar Nooij", "+1 303 220 4218", "", "Matt Beake", "+44 20 8483 6428"], ["Christian Fangmann", "+49 221 8462 5151", "", "Andrew Mitchell", "+44 79 4628 6586"], ["John Rea", "+1 303 220 4238", "", "", ""]]
Liberty Global partners with Ericsson to expand DVR services
This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.Source: Ericsson via GlobeNewswireHUG#2044536 || What companies need to do after a major hack: Yahoo confirmed a huge data breach took place in 2014 affecting up to 500 million users on Thursday. In August, the company said it was investigating a possible breach after a hacker claiming to have stolen the account information posted 200 million Yahoo user accounts for sale on dark web marketplace The Real Deal. The account information — which purportedly included user names and passwords easily cracked with free tools available online — was listed for 3 Bitcoin, or roughly $1800.
Such a low asking price is indicative of an older breach, said Security Scorecard chief research officer Alex Heid. It is likely that the hacker or hackers behind the attack has already tried to use the information to hack into other services — such as bank accounts, PayPal accounts, email services, even Netflix — and erased a lot of the value, said Heid.
Yahoo is already drawing criticism for not acting quickly enough to notify users of the breach, which could have larger implications on the $4.8 billion sale of the core business to Verizon. Cybersecurity experts agree that responding quickly to a breach is key to mitigating the impact. If you think you may be among the possible millions of victims of the breach,here are the five steps you should take.
The big question is whether Yahoo has accurately quantified the liability to Verizon, saidDimitri Sirotachief executive officer of cybersecurity firm BigID which helps companies track data within their systems.
It is not uncommon for companies not to reveal the extent of a breach prior to a thorough forensic investigation, he said. Confirmation that a breach took place is unlikely to derail the Verizon deal, he said. That said, class action lawsuits from customers and security suits from investors are not uncommon in these types of situations.
"A lot of this will depend on the severity of the breach and how current it is," he said. "I suspect there will be some fallout."
Here are the five steps experts say every company should take following a breach.
1) Respond quickly
"It's all about speed," said Wendi Whitmore, IBM director of incident response and intelligence services.
How fast a company can detect and respond to a breach greatly impacts their recovery time, she said. Organizations which complete a post-mortem within 30 days save an average of $1 million, according to theIBM and Ponemon Institutecost of a data breach study.
"Every day it goes undetected, unchecked, that's going to escalate damage," saidExperian vice president of Fraud & Identity product strategyMatt Ehrlich
2) Have a plan in place
Ideally, a company should already have a response plan in place in the event that a breach takes place. The response plan should engage three key teams: An incidence response team, a crisis communications firm, and outside counsel — a legal firm focused on computer security and cyber law, said Whitmore.
"Make sure you have contracts that specify how quickly these organizations will provide support and response time, so you aren't negotiating when you have had a breach," she said. "As the organization, you have a lot more leverage in negotiating if you're doing it proactively —the rates are less and they will agree to time frames."
By getting all the legal and procurement done ahead of time, companies can save days in the event of a breach.
"Days make a huge difference when responding to a breach," she said.
3) Be prepared to access the data for investigators
An investigative response team will need access to a company's network and host and any threat detection and logging tools the company employs. Healthcare and retail companies need to notify consumers as soon as possible.
"The more time it takes them to identify that and get to the bottom of it, the more its costs them," said Whitmore.
4) Be ready to do damage control
Typically, the investigation and remediation go hand in hand, said Whitmore. The remediation process should be tactical and strategic — a company may need to ask users to reset account information — which often has a knock on effect on operations.
5) Have a crisis communications plan for employees, customers and the media
Once a company confirms a breach has taken place, depending on the industry, it may be legally required to inform people — the requirements vary from state to state, country to country, and depend on industry, regulation and compliance laws, and the type of information breached.
"This is one reason why it is so important to hire outside legal counsel and an IR firm well versed in these requirements," said Whitmore.
When communicating about the breach with employees, customers and the media, it is important not to overreact and reveal too much information, too soon, said Ehrlich. All communication should be factual and straight forward — a strategy that is more likely to make your customers empathetic.
"You need to have all the facts and information — acting without those can be as damaging as doing nothing," said Ehrlich
Something that often gets overlooked is an internal communications plan, said Whitmore. Once the news of a breach leaks out, employees often start to field a lot of questions. Having a law firm and crisis communications firm develop a crisis communications plan in advance is a good idea. Employee training is also important, and can be worked out before a breach ever happens.
"Imagine the worst case scenario— an intern tweets screenshot of something happening on you network," said Whitmore. "Make sure employees know wait they can and can't say and are trained and aware of what the corporate communications policies are."
The key takeaway: Take care of your crown jewels
"Personal data is the life-blood of most organizations, and they need to better safeguard it against misuse and theft," said Sirota. || What companies need to do after a major hack: Yahoo confirmed a huge data breach took place in 2014 affecting up to 500 million users on Thursday. In August, the company said it was investigating a possible breach after a hacker claiming to have stolen the account information posted 200 million Yahoo user accounts for sale on dark web marketplace The Real Deal. The account information — which purportedly included user names and passwords easily cracked with free tools available online — was listed for 3 Bitcoin, or roughly $1800. Such a low asking price is indicative of an older breach, said Security Scorecard chief research officer Alex Heid. It is likely that the hacker or hackers behind the attack has already tried to use the information to hack into other services — such as bank accounts, PayPal accounts, email services, even Netflix — and erased a lot of the value, said Heid. Yahoo is already drawing criticism for not acting quickly enough to notify users of the breach, which could have larger implications on the $4.8 billion sale of the core business to Verizon. Cybersecurity experts agree that responding quickly to a breach is key to mitigating the impact. If you think you may be among the possible millions of victims of the breach, here are the five steps you should take . The big question is whether Yahoo has accurately quantified the liability to Verizon, said Dimitri Sirota chief executive officer of cybersecurity firm BigID which helps companies track data within their systems. It is not uncommon for companies not to reveal the extent of a breach prior to a thorough forensic investigation, he said. Confirmation that a breach took place is unlikely to derail the Verizon deal, he said. That said, class action lawsuits from customers and security suits from investors are not uncommon in these types of situations. "A lot of this will depend on the severity of the breach and how current it is," he said. "I suspect there will be some fallout." Here are the five steps experts say every company should take following a breach. Story continues 1) Respond quickly "It's all about speed," said Wendi Whitmore, IBM director of incident response and intelligence services. How fast a company can detect and respond to a breach greatly impacts their recovery time, she said. Organizations which complete a post-mortem within 30 days save an average of $1 million, according to the IBM and Ponemon Institute cost of a data breach study. "Every day it goes undetected, unchecked, that's going to escalate damage," said Experian vice president of Fraud & Identity product strategy Matt Ehrlich 2) Have a plan in place Ideally, a company should already have a response plan in place in the event that a breach takes place. The response plan should engage three key teams: An incidence response team, a crisis communications firm, and outside counsel — a legal firm focused on computer security and cyber law, said Whitmore. "Make sure you have contracts that specify how quickly these organizations will provide support and response time, so you aren't negotiating when you have had a breach," she said. "As the organization, you have a lot more leverage in negotiating if you're doing it proactively —the rates are less and they will agree to time frames." By getting all the legal and procurement done ahead of time, companies can save days in the event of a breach. "Days make a huge difference when responding to a breach," she said. 3) Be prepared to access the data for investigators An investigative response team will need access to a company's network and host and any threat detection and logging tools the company employs. Healthcare and retail companies need to notify consumers as soon as possible. "The more time it takes them to identify that and get to the bottom of it, the more its costs them," said Whitmore. 4) Be ready to do damage control Typically, the investigation and remediation go hand in hand, said Whitmore. The remediation process should be tactical and strategic — a company may need to ask users to reset account information — which often has a knock on effect on operations. 5) Have a crisis communications plan for employees, customers and the media Once a company confirms a breach has taken place, depending on the industry, it may be legally required to inform people — the requirements vary from state to state, country to country, and depend on industry, regulation and compliance laws, and the type of information breached. "This is one reason why it is so important to hire outside legal counsel and an IR firm well versed in these requirements," said Whitmore. When communicating about the breach with employees, customers and the media, it is important not to overreact and reveal too much information, too soon, said Ehrlich. All communication should be factual and straight forward — a strategy that is more likely to make your customers empathetic. "You need to have all the facts and information — acting without those can be as damaging as doing nothing," said Ehrlich Something that often gets overlooked is an internal communications plan, said Whitmore. Once the news of a breach leaks out, employees often start to field a lot of questions. Having a law firm and crisis communications firm develop a crisis communications plan in advance is a good idea. Employee training is also important, and can be worked out before a breach ever happens. "Imagine the worst case scenario — an intern tweets screenshot of something happening on you network," said Whitmore. "Make sure employees know wait they can and can't say and are trained and aware of what the corporate communications policies are." The key takeaway: Take care of your crown jewels "Personal data is the life-blood of most organizations, and they need to better safeguard it against misuse and theft," said Sirota. || Yahoo Says Hacker Stole Data on At Least 500 Million Users: Yahoo on Thursday confirmed a massive data breach, in which it said a “state-sponsored” hacker broke into the internet company’s systems and stole personal information on at least 500 million users — the biggest such theft of user data from a single entity to date. The user-account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords and in some cases encrypted or unencrypted security questions and answers, according to Yahoo. The data was stolen from the company’s network in late 2014, Yahoo said, which did not provide an explanation for why it has taken two years to report the incident. It didn’t identify the country it believes was behind the attack. What the disclosure means for Verizon’s pending $4.8 billion deal to acquire the core web businesses of Yahoo is not immediately clear, but according to Verizon it was not apprised of the severity of the breach until this week. Verizon, in a statement, said it was notified of Yahoo’s security breach in the last two days. “We understand that Yahoo is conducting an active investigation of this matter, but we otherwise have limited information and understanding of the impact,” the telco said. “We will evaluate as the investigation continues through the lens of overall Verizon interests, including consumers, customers, shareholders and related communities. Until then, we are not in position to further comment.” The Yahoo announcement came after Vice’s Motherboard reported in August that a hacker known as “Peace,” who is believed to be a Russian cybercriminal, was advertising the sale of 200 million Yahoo user accounts in a black-market online forum for about $1,860 worth of Bitcoin. At the time, Yahoo said it was investigating the claims. Recode reported early Thursday that Yahoo was expected to confirm the data breach this week. Regardless of how it affects the outcome of Verizon’s planned acquisition, the enormous security breach will stand as a disastrous bookend to the tenure of CEO Marissa Mayer. Story continues Mayer, a former top Google exec hired four years ago to much fanfare, failed to turn around Yahoo’s core search and advertising business . Mayer and Yahoo’s board eventually bowed to investor pressure to sell its operating businesses (excluding its stakes in Alibaba Group and Yahoo Japan), and initiated an auction process earlier this year. Verizon emerged as the winning bidder in July and the telco has outlined plans to merge Yahoo’s web operations with AOL , which it acquired last year for $4.4 billion. In announcing the breach, Yahoo said it was working with law-enforcement officials on investigating the incident. According to the company, based on what it has learned so far, none of the stolen information included unprotected passwords, payment-card data, or bank-account information. “Yahoo is notifying potentially affected users and has taken steps to secure their accounts,” the company said. “These steps include invalidating unencrypted security questions and answers so that they cannot be used to access an account and asking potentially affected users to change their passwords. Yahoo is also recommending that users who haven’t changed their passwords since 2014 do so.” Security and legal experts said Yahoo’s costs associated with the attack could run into the tens of millions of dollars. The incident is likely to prompt class-action lawsuits and could even scuttle the Verizon acquisition. Given that the breach occurred in 2014 and Yahoo did not properly communicate or manage it, Verizon may seek to nullify or renegotiate the deal, said Corey Williams, senior director of products and marketing at security vendor Centrify. “This is less of a story about 500 million user accounts being stolen and more about how lax security and poor handling of incidents can impact the very existence of a company,” he said. Yahoo, which reaches some 1 billion users around the world, has posted a frequently asked questions document on its website about the breach. The company also is encouraging users to use Account Key , an authentication tool for its email app that associates a Yahoo account with a specific device to eliminate the need for a password. As part of responding to the incident, Yahoo has enlisted New York-based communications firm Joel Frank, which specializes in crisis PR. Related stories Verizon in Talks to Acquire Video Startup Vessel (Report) Snapchat Adds Verizon-Hearst's Complex to Discover Lineup Yahoo to Disclose Data Breach Affecting 200 Million or More Users (Report) Get more from Variety and Variety411 : Follow us on Twitter , Facebook , Newsletter || Yahoo Says Hacker Stole Data on At Least 500 Million Users: Yahoo on Thursday confirmed a massive data breach, in which it said a “state-sponsored” hacker broke into the internet company’s systems and stole personal information on at least 500 million users — the biggest such theft of user data from a single entity to date. The user-account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords and in some cases encrypted or unencrypted security questions and answers, according to Yahoo. The data was stolen from the company’s network in late 2014, Yahoo said, which did not provide an explanation for why it has taken two years to report the incident. It didn’t identify the country it believes was behind the attack. What the disclosure means for Verizon’s pending $4.8 billion deal to acquire the core web businesses of Yahoo is not immediately clear, but according to Verizon it was not apprised of the severity of the breach until this week. Verizon, in a statement, said it was notified of Yahoo’s security breach in the last two days. “We understand that Yahoo is conducting an active investigation of this matter, but we otherwise have limited information and understanding of the impact,” the telco said. “We will evaluate as the investigation continues through the lens of overall Verizon interests, including consumers, customers, shareholders and related communities. Until then, we are not in position to further comment.” The Yahoo announcement came after Vice’s Motherboard reported in August that a hacker known as “Peace,” who is believed to be a Russian cybercriminal, was advertising the sale of 200 million Yahoo user accounts in a black-market online forum for about $1,860 worth of Bitcoin. At the time, Yahoo said it was investigating the claims. Recode reported early Thursday that Yahoo was expected to confirm the data breach this week. Regardless of how it affects the outcome of Verizon’s planned acquisition, the enormous security breach will stand as a disastrous bookend to the tenure of CEO Marissa Mayer. Story continues Mayer, a former top Google exec hired four years ago to much fanfare, failed to turn around Yahoo’s core search and advertising business . Mayer and Yahoo’s board eventually bowed to investor pressure to sell its operating businesses (excluding its stakes in Alibaba Group and Yahoo Japan), and initiated an auction process earlier this year. Verizon emerged as the winning bidder in July and the telco has outlined plans to merge Yahoo’s web operations with AOL , which it acquired last year for $4.4 billion. In announcing the breach, Yahoo said it was working with law-enforcement officials on investigating the incident. According to the company, based on what it has learned so far, none of the stolen information included unprotected passwords, payment-card data, or bank-account information. “Yahoo is notifying potentially affected users and has taken steps to secure their accounts,” the company said. “These steps include invalidating unencrypted security questions and answers so that they cannot be used to access an account and asking potentially affected users to change their passwords. Yahoo is also recommending that users who haven’t changed their passwords since 2014 do so.” Security and legal experts said Yahoo’s costs associated with the attack could run into the tens of millions of dollars. The incident is likely to prompt class-action lawsuits and could even scuttle the Verizon acquisition. Given that the breach occurred in 2014 and Yahoo did not properly communicate or manage it, Verizon may seek to nullify or renegotiate the deal, said Corey Williams, senior director of products and marketing at security vendor Centrify. “This is less of a story about 500 million user accounts being stolen and more about how lax security and poor handling of incidents can impact the very existence of a company,” he said. Yahoo, which reaches some 1 billion users around the world, has posted a frequently asked questions document on its website about the breach. The company also is encouraging users to use Account Key , an authentication tool for its email app that associates a Yahoo account with a specific device to eliminate the need for a password. As part of responding to the incident, Yahoo has enlisted New York-based communications firm Joel Frank, which specializes in crisis PR. Related stories Verizon in Talks to Acquire Video Startup Vessel (Report) Snapchat Adds Verizon-Hearst's Complex to Discover Lineup Yahoo to Disclose Data Breach Affecting 200 Million or More Users (Report) Get more from Variety and Variety411 : Follow us on Twitter , Facebook , Newsletter || The dark web marketplace where you can buy 200 million Yahoo accounts is under cyberattack: (Shutterstock)
The popular dark web marketplace where a hacker is selling 200 million user accounts stolen from Yahoo says it is currently under cyberattack.
The site, called The Real Deal, is one of the go-to spots for hackers trying to sell off databases in exchange for Bitcoin. In the case of thereported Yahoo hack, that means upwards of 200 million user credentials are available for sale on the site for 3 Bitcoin, or roughly $1,800.
Yahoo is expected to confirm the breach of its service soon,accordingto a report from Recode published Thursday.
That reporting comes as the site hosting the database is under cyber attack and inaccessible to users. It's unknown who is behind that attack; The Real Deal only says "Market under DDoS" when a user goes to the login screen on its site, which is only accessible throughthe Tor browser.
Keeping up the site isn't affected by a possible influx of dark web users looking for the goods from Yahoo. Instead, as the message indicates, The Real Deal is being hit by a DDoS, or distributed denial-of-service attack, a crude way to take down a website by flooding it with traffic.
Here's what The Real Deal looks like now:
(The Real Deal)
(The Real Deal)
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• Notes From Yahoo-Microsoft Conference Call On Search Deal || The dark web marketplace where you can buy 200 million Yahoo accounts is under cyberattack: Dark Web Thumb 4x3 (Shutterstock) The popular dark web marketplace where a hacker is selling 200 million user accounts stolen from Yahoo says it is currently under cyberattack. The site, called The Real Deal, is one of the go-to spots for hackers trying to sell off databases in exchange for Bitcoin. In the case of the reported Yahoo hack , that means upwards of 200 million user credentials are available for sale on the site for 3 Bitcoin, or roughly $1,800. Yahoo is expected to confirm the breach of its service soon, according to a report from Recode published Thursday. That reporting comes as the site hosting the database is under cyber attack and inaccessible to users. It's unknown who is behind that attack; The Real Deal only says "Market under DDoS" when a user goes to the login screen on its site, which is only accessible through the Tor browser. Keeping up the site isn't affected by a possible influx of dark web users looking for the goods from Yahoo. Instead, as the message indicates, The Real Deal is being hit by a DDoS, or distributed denial-of-service attack, a crude way to take down a website by flooding it with traffic. Here's what The Real Deal looks like now: The Real Deal (The Real Deal) The Real Deal (The Real Deal) NOW WATCH: NASA just took these incredible images of mysterious rock formations on Mars More From Business Insider Hackers Steal £3.4 Million From UK Bitcoin Exchange Bitstamp UPDATE 1-Yahoo to provide details on massive data breach - Recode Notes From Yahoo-Microsoft Conference Call On Search Deal || 200 Million Yahoo Accounts Hacked? What to Do Now: UPDATE: Sept. 22, 3:45 P.M., EASTERN: Yahoo confirmed the report, but the breach turned out to be greater than previously expected. More details here. Yahoo, the web portal popular among fantasy football players and free webmail users, may have been the victim of a data breach affecting about 200 million users. Rumors of such a breach surfaced last month, and a Recode report posted early today (Sept. 22) indicated that the company would soon confirm the rumors. Two Tom's Guide staffers saw a tacit admission that something may be wrong when they tried to log into their Yahoo Mail accounts this morning. Both received suggestions to change their passwords, even on accounts that had two-factor authentication enabled. Have I Been Pwned? administrator Troy Hunt , who collects credentials exposed in data breaches, reported the same thing. It's still possible that Yahoo was not itself breached, and that the reported 200 million Yahoo accounts were aggregated and sifted from data breaches at other online services, such as those affecting LinkedIn (177 million accounts) and MySpace (360 million accounts). The alleged malicious hacker who first came forward with the details of the Yahoo accounts — said to include usernames, hashed passwords, birth dates and backup email addresses — told VICE Motherboard last month that the Yahoo data is from "2012 most likely." MORE: 10 Worst Data Breaches of All Time Motherboard broke the news Aug. 1 when that hacker, who uses the pseudonym Peace, put the Yahoo data up for sale for 3 Bitcoin (approx. $1,801 US) on The Real Deal online-crime marketplace. Peace earlier this year disclosed the MySpace and LinkedIn data breaches, but it's unlikely that he himself stole that data. The low price he wanted for the Yahoo data indicates that it's probably old, well picked over and no longer worth much to cybercriminals. In August, Yahoo told Motherboard that it was "aware of a claim," but didn't deny a data breach. Peace replied that "they dont [sic] want to confirm well better for me they dont [sic] do password reset." Story continues Peace also claimed to have "been trading the data privately for some time" before deciding to sell it. Users who want to protect their accounts should log in to Yahoo.com immediately and take the option to reset their passwords. Motherboard checked two dozen account credentials supplied by Peace, and discovered that the usernames did correspond to Yahoo accounts. Yahoo apparently protected its user passwords with the MD5 hashing algorithm, for which the first weakness was found in 2005. No company should have been using the algorithm in 2012. Yahoo is currently trying to sell itself to Verizon, and Recode speculated that news of a massive data breach could sent Yahoo stock tumbling, lowering the cost for Verizon. Yahoo users who want to protect their accounts should log in to Yahoo.com immediately and reset their passwords. If Yahoo doesn't prompt you to do so, then visit Yahoo's Set a new password page and change the password manually. Users can also use Yahoo Account Key , which eschews passwords in favor of using the Yahoo mobile app to turn smartphones into authentication devices. As we say every time we report on a massive server breach, never, ever, recycle passwords. If your email address and password have been available on the black market for months, along with a secondary email address, you better not have used those same credentials for online banking or other highly valuable accounts. 12 Computer Security Mistakes You’re Probably Making The Best (and Worst) Identity Theft Protection What to Do If Your Social Security Number Is Stolen Copyright 2016 Toms Guides , a Purch company. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. || 500 Million Yahoo Accounts Hacked? What to Do Now: UPDATE: Sept. 22, 3:45 P.M., EASTERN: Yahoo confirmed the report, but the breach turned out to be greater than previously expected. More details here. Yahoo, the web portal popular among fantasy football players and free webmail users, may have been the victim of a data breach affecting about 200 million users (later confirmed to be 500 million users). Rumors of such a breach surfaced last month, and a Recode report posted early today (Sept. 22) indicated that the company would soon confirm the rumors. Two Tom's Guide staffers saw a tacit admission that something may be wrong when they tried to log into their Yahoo Mail accounts this morning. Both received suggestions to change their passwords, even on accounts that had two-factor authentication enabled. Have I Been Pwned? administrator Troy Hunt , who collects credentials exposed in data breaches, reported the same thing. It's still possible that Yahoo was not itself breached, and that the reported 200 million Yahoo accounts were aggregated and sifted from data breaches at other online services, such as those affecting LinkedIn (177 million accounts) and MySpace (360 million accounts). The alleged malicious hacker who first came forward with the details of the Yahoo accounts said to include usernames, hashed passwords, birth dates and backup email addresses told VICE Motherboard last month that the Yahoo data is from "2012 most likely." MORE: 10 Worst Data Breaches of All Time Motherboard broke the news Aug. 1 when that hacker, who uses the pseudonym Peace, put the Yahoo data up for sale for 3 Bitcoin (approx. $1,801 US) on The Real Deal online-crime marketplace. Peace earlier this year disclosed the MySpace and LinkedIn data breaches, but it's unlikely that he himself stole that data. The low price he wanted for the Yahoo data indicates that it's probably old, well picked over and no longer worth much to cybercriminals. In August, Yahoo told Motherboard that it was "aware of a claim," but didn't deny a data breach. Peace replied that "they dont [sic] want to confirm well better for me they dont [sic] do password reset." Story continues Peace also claimed to have "been trading the data privately for some time" before deciding to sell it. Users who want to protect their accounts should log in to Yahoo.com immediately and take the option to reset their passwords. Motherboard checked two dozen account credentials supplied by Peace, and discovered that the usernames did correspond to Yahoo accounts. Yahoo apparently protected its user passwords with the MD5 hashing algorithm, for which the first weakness was found in 2005. No company should have been using the algorithm in 2012. Yahoo is currently trying to sell itself to Verizon, and Recode speculated that news of a massive data breach could sent Yahoo stock tumbling, lowering the cost for Verizon. Yahoo users who want to protect their accounts should log in to Yahoo.com immediately and reset their passwords. If Yahoo doesn't prompt you to do so, then visit Yahoo's Set a new password page and change the password manually. Users can also use Yahoo Account Key , which eschews passwords in favor of using the Yahoo mobile app to turn smartphones into authentication devices. As we say every time we report on a massive server breach, never, ever, recycle passwords. If your email address and password have been available on the black market for months, along with a secondary email address, you better not have used those same credentials for online banking or other highly valuable accounts. 12 Computer Security Mistakes Youre Probably Making The Best (and Worst) Identity Theft Protection What to Do If Your Social Security Number Is Stolen Copyright 2016 Toms Guides , a Purch company. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. || 500 Million Yahoo Accounts Hacked? What to Do Now: UPDATE: Sept. 22, 3:45 P.M., EASTERN: Yahoo confirmed the report, but the breach turned out to be greater than previously expected. More details here. Yahoo, the web portal popular among fantasy football players and free webmail users, may have been the victim of a data breach affecting about 200 million users (later confirmed to be 500 million users). Rumors of such a breach surfaced last month, and a Recode report posted early today (Sept. 22) indicated that the company would soon confirm the rumors. Two Tom's Guide staffers saw a tacit admission that something may be wrong when they tried to log into their Yahoo Mail accounts this morning. Both received suggestions to change their passwords, even on accounts that had two-factor authentication enabled. Have I Been Pwned? administrator Troy Hunt , who collects credentials exposed in data breaches, reported the same thing. It's still possible that Yahoo was not itself breached, and that the reported 200 million Yahoo accounts were aggregated and sifted from data breaches at other online services, such as those affecting LinkedIn (177 million accounts) and MySpace (360 million accounts). The alleged malicious hacker who first came forward with the details of the Yahoo accounts said to include usernames, hashed passwords, birth dates and backup email addresses told VICE Motherboard last month that the Yahoo data is from "2012 most likely." MORE: 10 Worst Data Breaches of All Time Motherboard broke the news Aug. 1 when that hacker, who uses the pseudonym Peace, put the Yahoo data up for sale for 3 Bitcoin (approx. $1,801 US) on The Real Deal online-crime marketplace. Peace earlier this year disclosed the MySpace and LinkedIn data breaches, but it's unlikely that he himself stole that data. The low price he wanted for the Yahoo data indicates that it's probably old, well picked over and no longer worth much to cybercriminals. In August, Yahoo told Motherboard that it was "aware of a claim," but didn't deny a data breach. Peace replied that "they dont [sic] want to confirm well better for me they dont [sic] do password reset." Story continues Peace also claimed to have "been trading the data privately for some time" before deciding to sell it. Users who want to protect their accounts should log in to Yahoo.com immediately and take the option to reset their passwords. Motherboard checked two dozen account credentials supplied by Peace, and discovered that the usernames did correspond to Yahoo accounts. Yahoo apparently protected its user passwords with the MD5 hashing algorithm, for which the first weakness was found in 2005. No company should have been using the algorithm in 2012. Yahoo is currently trying to sell itself to Verizon, and Recode speculated that news of a massive data breach could sent Yahoo stock tumbling, lowering the cost for Verizon. Yahoo users who want to protect their accounts should log in to Yahoo.com immediately and reset their passwords. If Yahoo doesn't prompt you to do so, then visit Yahoo's Set a new password page and change the password manually. Users can also use Yahoo Account Key , which eschews passwords in favor of using the Yahoo mobile app to turn smartphones into authentication devices. As we say every time we report on a massive server breach, never, ever, recycle passwords. If your email address and password have been available on the black market for months, along with a secondary email address, you better not have used those same credentials for online banking or other highly valuable accounts. 12 Computer Security Mistakes Youre Probably Making The Best (and Worst) Identity Theft Protection What to Do If Your Social Security Number Is Stolen Copyright 2016 Toms Guides , a Purch company. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
[Social Media Buzz]
1 KOBO = 0.00000250 BTC
= 0.0015 USD
= 0.4568 NGN
= 0.0206 ZAR
= 0.1518 KES
#Kobocoin 2016-09-29 11:00 pic.twitter.com/g8JgwSiCE5 || Two Hour Lull Update: Current Winkdex Bitcoin price: $604.00 #bitcoin || 1 MUE Price: Bittrex 0.00000083 BTC YoBit 0.00000150 BTC Bleutrade 0.00000078 BTC #MUE #MUEprice 2016-09-29 00:00 pic.twitter.com/hV7amop7Ly || One Bitcoin now worth $602.55@bitstamp. High $604.90. Low $601.00. Market Cap $9.581 Billion #bitcoin || $605.00 #btce;
$606.40 #GDAX;
$604....
|
609.73, 613.98, 610.89, 612.13, 610.20, 612.51, 613.02, 617.12, 619.11, 616.75
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Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 16564.00, 17706.90, 19497.40, 19140.80, 19114.20, 17776.70, 16624.60, 15802.90, 13831.80, 14699.20, 13925.80, 14026.60, 16099.80, 15838.50, 14606.50, 14656.20, 12952.20, 14156.40, 13657.20, 14982.10, 15201.00, 15599.20, 17429.50, 17527.00, 16477.60, 15170.10, 14595.40, 14973.30, 13405.80, 13980.60, 14360.20, 13772.00, 13819.80, 11490.50, 11188.60, 11474.90, 11607.40, 12899.20, 11600.10, 10931.40, 10868.40, 11359.40, 11259.40, 11171.40, 11440.70, 11786.30, 11296.40, 10106.30, 10221.10, 9170.54, 8830.75, 9174.91, 8277.01, 6955.27, 7754.00, 7621.30, 8265.59, 8736.98, 8621.90, 8129.97, 8926.57, 8598.31, 9494.63, 10166.40, 10233.90, 11112.70, 10551.80, 11225.30, 11403.70, 10690.40, 10005.00, 10301.10, 9813.07, 9664.73, 10366.70, 10725.60, 10397.90, 10951.00, 11086.40, 11489.70, 11512.60, 11573.30, 10779.90, 9965.57, 9395.01, 9337.55, 8866.00, 9578.63, 9205.12, 9194.85.
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[Bitcoin Technical Analysis for 2018-03-13]
Volume: 5991139840, RSI (14-day): 42.10, 50-day EMA: 10444.09, 200-day EMA: 9225.12
[Wider Market Context]
Gold Price: 1325.90, Gold RSI: 50.70
Oil Price: 60.71, Oil RSI: 44.59
[Recent News (last 7 days)]
3 Stocks You Can Safely Own Until 2030: What's better than a fantastic investment for today? One that will keep rewarding you over the long run, of course.Compounding returnsover many years, or even decades, is the magic wand that turns today's modest investments into tomorrow's millionaires.
So we asked a few of your fellow investors here at The Motley Fool to share their best ideas for stocks that will keep on giving for many years to come. Here's why our panelists would trustWalt Disney(NYSE: DIS),American Tower(NYSE: AMT), andStarbucks(NASDAQ: SBUX)to deliver market-beating returns for at least the next 12 years.
Image source: Getty Images.
Demitri Kalogeropoulos(Starbucks):People have been sipping coffee for centuries, and I'd say it's a safe bet that Starbucks will still be a leading player in the industry well into the next decade.
That's not to say that the beverage titan's business will look the same in 2030 as it does today. Most of Starbucks' future growth will likely come from its international segment, after all. Its China segment is especially attractive, given that its latest class of stores is setting customer traffic and profitability records. Executives see that market growing to many times the size of the U.S. over time, and they couldn't be more bullish on their prospects there. "No western consumer brand is better positioned than Starbucks in China," CEO Kevin Johnson recentlysaid to investors.
Sure, the chain is facing major challenges in the U.S. market, wherecustomer traffic has stalled. That slowdown has persisted despite management's best efforts to jump-start afternoon traffic over the last year. Starbucks has made the necessary adjustments to recapture its growth momentum in the past, though, and there's no reason to believe it can't do the same thing here. However, even if sluggishness continues in the U.S., there's little danger of this world-class business losing its prime market position in the years ahead.
Anders Bylund(Walt Disney):If there's one brand I'm sure will have legs for the next decade or two (or three, or...), that would be Disney. With great brand power comes...great long-term investor returns, so Walt Disney is an easy answer to this question -- downright obvious, even.
It's simple to find a current example of my brand-power adage: Just take a look in Disney's rearview mirror. Over the last 12 years, Disney investors have pocketed a market-beating 266% return:
DISdata byYCharts.
This surge was powered by Disney's unmatched library of family-friendly characters and stories.
The Marvel Cinematic Universe played a big part, building up theAvengersfranchise out of some lesser-known superhero names. Now, every Marvel movie is a near-guaranteed smash hit with billion-dollar potential at the box office.
Lucasfilm'sStar Warssaga is an even safer cash machine, since even spinoff titles such asRogue One: A Star Wars Storycan hit that coveted billion-dollar mark globally. And don't forget about eternal hit factory Pixar.
Disney's own burnished brand holds the power to break all animation records, with an unheralded film loosely inspired by H.C. Andersen'sThe Snow Queen. Disney churns out megahits in its sleep, and I see no signs of the bandwagon slowing down.
The same old story will keep on playing in 2019 and beyond,with some additional twists. And the pending buyout ofTwenty-First Century Fox(NASDAQ: FOX)(NASDAQ: FOXA)should offer another adrenaline shot in the Marvel/Lucasfilm/Pixar vein.
Next year Disney is pulling away from a successful partnership withNetflix(NASDAQ: NFLX)to launch its own digital streaming platform around the world. Getting back to that top-shelf brand, the mouse ears alone should let Disney hit the ground running in the streaming video market.
And Disney is a master of exploiting and monetizing its brand. From movie tickets to theme park passes, from hotel resorts to themed cruise lines, from Mickey Mouse footwear to Cinderella dolls, there's no corner of the consumer market that Disney can't or won't dominate. This is the largest and most successful licensing vendor in the world, and that's a sustainable business advantage.
In a nutshell, that's why I'm more comfortable recommending Disney for the next decade-and-change than any other stock in today's market and my own portfolio -- including Netflix. The Disney brand provides predictable staying power for the very long haul.
Tyler Crowe(American Tower):"American Tower" is a bit of a misnomer for this real estate investment trust. Despite its name including the word "American," the company's business of owning and leasing space on cellular towers to telecommunications companies is international. Of the 149,000 or so towers in its portfolio, more than 108,000 are outside the U.S. And the company expects that number to grow even more, as it plans to close a deal for another 20,000 towers in India in the first half of this year.
American Tower's focus on the international market is a smart one because of the shifting needs of telecom companies. As more mature cellular networks (like those in the U.S.) deploy 4G and 5G capability, more equipment is required per unit of area. As these mature networks become denser, telecom companies turn to less conventional places for their equipment, using distributed antenna systems -- think equipment on light poles and rooftops.
While American Tower has some distributed antennas in its portfolio, management has elected to invest in less mature telecom markets, where total cellphone use is high but the use of data by cellphones is still low:
Source: American Tower investor presentation.
In countries where 3G and 4G networks are still developing and broadband use is low but growing, there isimmense opportunity to grow the businessin the coming years. As telecom companies outside the U.S. see the value in renting space on a tower instead of constructing and owning their own towers, American Tower should have an incredibly stable revenue source and growth platform. That should entice any investor looking over a multidecade time horizon.
More From The Motley Fool
• 3 Growth Stocks at Deep-Value Prices
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• 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing
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Anders Bylundowns shares of Netflix and Walt Disney.Demitrios Kalogeropoulosowns shares of Netflix, Starbucks, and Walt Disney.Tyler Croweowns shares of American Tower and Walt Disney. The Motley Fool owns shares of and recommends American Tower, Netflix, Starbucks, and Walt Disney. The Motley Fool has the following options: short April 2018 $130 calls on American Tower and long January 2019 $80 calls on American Tower. The Motley Fool has adisclosure policy. || 3 Stocks You Can Safely Own Until 2030: What's better than a fantastic investment for today? One that will keep rewarding you over the long run, of course. Compounding returns over many years, or even decades, is the magic wand that turns today's modest investments into tomorrow's millionaires. So we asked a few of your fellow investors here at The Motley Fool to share their best ideas for stocks that will keep on giving for many years to come. Here's why our panelists would trust Walt Disney (NYSE: DIS) , American Tower (NYSE: AMT) , and Starbucks (NASDAQ: SBUX) to deliver market-beating returns for at least the next 12 years. A large hourglass with sand streaming, next to a few piles of coins Image source: Getty Images. Coffee is a safe bet Demitri Kalogeropoulos (Starbucks): People have been sipping coffee for centuries, and I'd say it's a safe bet that Starbucks will still be a leading player in the industry well into the next decade. That's not to say that the beverage titan's business will look the same in 2030 as it does today. Most of Starbucks' future growth will likely come from its international segment, after all. Its China segment is especially attractive, given that its latest class of stores is setting customer traffic and profitability records. Executives see that market growing to many times the size of the U.S. over time, and they couldn't be more bullish on their prospects there. "No western consumer brand is better positioned than Starbucks in China," CEO Kevin Johnson recently said to investors . Sure, the chain is facing major challenges in the U.S. market, where customer traffic has stalled . That slowdown has persisted despite management's best efforts to jump-start afternoon traffic over the last year. Starbucks has made the necessary adjustments to recapture its growth momentum in the past, though, and there's no reason to believe it can't do the same thing here. However, even if sluggishness continues in the U.S., there's little danger of this world-class business losing its prime market position in the years ahead. Story continues You just don't get more brand value Anders Bylund (Walt Disney): If there's one brand I'm sure will have legs for the next decade or two (or three, or...), that would be Disney. With great brand power comes...great long-term investor returns, so Walt Disney is an easy answer to this question -- downright obvious, even. It's simple to find a current example of my brand-power adage: Just take a look in Disney's rearview mirror. Over the last 12 years, Disney investors have pocketed a market-beating 266% return: DIS Chart DIS data by YCharts . This surge was powered by Disney's unmatched library of family-friendly characters and stories. The Marvel Cinematic Universe played a big part, building up the Avengers franchise out of some lesser-known superhero names. Now, every Marvel movie is a near-guaranteed smash hit with billion-dollar potential at the box office. Lucasfilm's Star Wars saga is an even safer cash machine, since even spinoff titles such as Rogue One: A Star Wars Story can hit that coveted billion-dollar mark globally. And don't forget about eternal hit factory Pixar. Disney's own burnished brand holds the power to break all animation records, with an unheralded film loosely inspired by H.C. Andersen's The Snow Queen . Disney churns out megahits in its sleep, and I see no signs of the bandwagon slowing down. The same old story will keep on playing in 2019 and beyond, with some additional twists . And the pending buyout of Twenty-First Century Fox (NASDAQ: FOX) (NASDAQ: FOXA) should offer another adrenaline shot in the Marvel/Lucasfilm/Pixar vein. Next year Disney is pulling away from a successful partnership with Netflix (NASDAQ: NFLX) to launch its own digital streaming platform around the world. Getting back to that top-shelf brand, the mouse ears alone should let Disney hit the ground running in the streaming video market. And Disney is a master of exploiting and monetizing its brand. From movie tickets to theme park passes, from hotel resorts to themed cruise lines, from Mickey Mouse footwear to Cinderella dolls, there's no corner of the consumer market that Disney can't or won't dominate. This is the largest and most successful licensing vendor in the world, and that's a sustainable business advantage. In a nutshell, that's why I'm more comfortable recommending Disney for the next decade-and-change than any other stock in today's market and my own portfolio -- including Netflix. The Disney brand provides predictable staying power for the very long haul. Don't let the name fool you Tyler Crowe (American Tower): "American Tower" is a bit of a misnomer for this real estate investment trust. Despite its name including the word "American," the company's business of owning and leasing space on cellular towers to telecommunications companies is international. Of the 149,000 or so towers in its portfolio, more than 108,000 are outside the U.S. And the company expects that number to grow even more, as it plans to close a deal for another 20,000 towers in India in the first half of this year. American Tower's focus on the international market is a smart one because of the shifting needs of telecom companies. As more mature cellular networks (like those in the U.S.) deploy 4G and 5G capability, more equipment is required per unit of area. As these mature networks become denser, telecom companies turn to less conventional places for their equipment, using distributed antenna systems -- think equipment on light poles and rooftops. While American Tower has some distributed antennas in its portfolio, management has elected to invest in less mature telecom markets, where total cellphone use is high but the use of data by cellphones is still low: Chart showing the cellphone penetration of various countries plotted against their broadband (3G or 4G) penetration Source: American Tower investor presentation. In countries where 3G and 4G networks are still developing and broadband use is low but growing, there is immense opportunity to grow the business in the coming years. As telecom companies outside the U.S. see the value in renting space on a tower instead of constructing and owning their own towers, American Tower should have an incredibly stable revenue source and growth platform. That should entice any investor looking over a multidecade time horizon. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Anders Bylund owns shares of Netflix and Walt Disney. Demitrios Kalogeropoulos owns shares of Netflix, Starbucks, and Walt Disney. Tyler Crowe owns shares of American Tower and Walt Disney. The Motley Fool owns shares of and recommends American Tower, Netflix, Starbucks, and Walt Disney. The Motley Fool has the following options: short April 2018 $130 calls on American Tower and long January 2019 $80 calls on American Tower. The Motley Fool has a disclosure policy . || Why Did Shares of Tesla Move 5% Higher Today?: What happened? Shares of Tesla (NASDAQ: TSLA) , a vertically integrated energy company best known for its electric vehicles, closed with a 5.6% gain, in part because investors felt more optimistic about production. So what One problem Tesla has never faced is a lack of consumer hype for its highly popular electric vehicles, including the Model 3. Tesla has consistently had trouble hitting its production targets. And while Tesla has had Model 3 production bottlenecks, which contributed to a small sell-off in the stock in mid-February, Morgan Stanley analyst Adam Jonas, said Friday that he believed the company would overcome bottleneck issues and improve production -- boosting cash flow and investor optimism. Model 3 production will be one of the hottest Tesla topics for investors to watch in 2018, and it's not a huge surprise to see the stock rise after analysts become confident that the production bumps are in the past. Tesla's Model 3 driving on a deserted road. Image source: Tesla. Now what Tesla is one of the most closely watched, hyped, and highly discussed stocks in recent history. There's no limit to the speculation or news coverage, and 5% swings in its stock price are just part of owning shares in such a potentially lucrative stock with a long-term vision . On the road ahead, expect many more swings as global automakers launch highly competitive and comparable electric vehicles, as well as when Tesla hits, and misses, the lofty targets it sets for itself. Stay focused on the long-term Model 3 production, and everything should be just fine. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Daniel Miller has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Tesla. The Motley Fool has a disclosure policy . || Why Did Shares of Tesla Move 5% Higher Today?: What happened? Shares of Tesla (NASDAQ: TSLA) , a vertically integrated energy company best known for its electric vehicles, closed with a 5.6% gain, in part because investors felt more optimistic about production. So what One problem Tesla has never faced is a lack of consumer hype for its highly popular electric vehicles, including the Model 3. Tesla has consistently had trouble hitting its production targets. And while Tesla has had Model 3 production bottlenecks, which contributed to a small sell-off in the stock in mid-February, Morgan Stanley analyst Adam Jonas, said Friday that he believed the company would overcome bottleneck issues and improve production -- boosting cash flow and investor optimism. Model 3 production will be one of the hottest Tesla topics for investors to watch in 2018, and it's not a huge surprise to see the stock rise after analysts become confident that the production bumps are in the past. Tesla's Model 3 driving on a deserted road. Image source: Tesla. Now what Tesla is one of the most closely watched, hyped, and highly discussed stocks in recent history. There's no limit to the speculation or news coverage, and 5% swings in its stock price are just part of owning shares in such a potentially lucrative stock with a long-term vision . On the road ahead, expect many more swings as global automakers launch highly competitive and comparable electric vehicles, as well as when Tesla hits, and misses, the lofty targets it sets for itself. Stay focused on the long-term Model 3 production, and everything should be just fine. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Daniel Miller has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Tesla. The Motley Fool has a disclosure policy . || With 38 Million Subscribers, Apple Music Growth Appears to Be Accelerating: It's been just over a month since Apple (NASDAQ: AAPL) reportedly hit 36 million subscribers for Apple Music, and services chief Eddy Cue just disclosed at SXSW that Apple Music has hit 38 million paid subscribers. Apple Music and Spotify are both growing, and the Mac maker continues to maintain a proportion of having about half as many paid subscribers as its larger rival. Spotify, which needs to go public within a matter of months, had 71 million premium subscribers at the end of 2017 and has likely added a few million in the months since. In an encouraging sign, Apple Music growth appears to be accelerating. HomePod with album covers in the background Image source: Apple. Playing catch-up Apple does not disclose Apple Music subscribers regularly or on a consistent schedule, instead giving updates sporadically. The company just added 2 million paid subscribers in about five weeks, which is much faster than before. In comparison, it took over two months to add 2 million paid subscribers in 2016, from 11 million to 13 million, and another 2 months to hit 15 million. The next 2 million subscribers similarly took over two months to garner. Chart comparing paid subscribers for Apple Music and Spotify Data source: Apple and Spotify. Chart by author. That might seem like modest acceleration at best, but every little bit helps as Spotify continues to grow and maintain its lead, thanks in part to growth in emerging markets that Apple addresses poorly since it does not have a free, ad-supported tier. Perhaps more importantly, Spotify's paid subscriber growth is also accelerating, taking just five months to add the last 11 million subscribers, suggesting that the broader music-streaming market is strengthening. Like the old saying goes: A rising tide lifts all music-streaming services. Spotify goes where Apple won't Apple Music is one of the most important pillars of the company's growing services business, which is now a $31 billion segment in terms of trailing-12-month revenue. Investors don't have a breakdown of the Apple Music subscriber base (i.e., how many people subscribe for a discounted annual plan or are part of a family plan), but a given user pays at most $120 per year ($10 per month). At that ceiling, Apple Music could be enjoying a revenue run rate north of $4.6 billion. Not bad for a service that was started less than three years ago. Story continues Still, Spotify enjoys several advantages that are derived from strategic differences. Apple Music is available on Android, but that's about as far as the service goes with cross-platform support. Spotify has a massive stable of third-party integrations that guarantee its ubiquity, including all of the top smart speakers on the market. In contrast, Apple Music is mostly reserved for the company's HomePod, and don't expect the service to get official support from Amazon.com's Echo family or Alphabet subsidiary Google's Home family, both of which support Spotify as the default voice-controlled music service. Spotify will benefit by simply going where Apple won't. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. Evan Niu, CFA owns shares of Apple. The Motley Fool owns shares of and recommends GOOG, GOOGL, AMZN, and Apple. The Motley Fool has the following options: long January 2020 $150 calls on Apple and short January 2020 $155 calls on Apple. The Motley Fool has a disclosure policy . || With 38 Million Subscribers, Apple Music Growth Appears to Be Accelerating: It's been just over a month sinceApple(NASDAQ: AAPL)reportedlyhit 36 million subscribersfor Apple Music, and services chief Eddy Cue just disclosed at SXSW that Apple Music has hit 38 million paid subscribers. Apple Music and Spotify are both growing, and the Mac maker continues to maintain a proportion of having about half as many paid subscribers as its larger rival. Spotify, whichneeds to go publicwithin a matter of months, had71 million premium subscribersat the end of 2017 and has likely added a few million in the months since.
In an encouraging sign, Apple Music growth appears to be accelerating.
Image source: Apple.
Apple does not disclose Apple Music subscribers regularly or on a consistent schedule, instead giving updates sporadically. The company just added 2 million paid subscribers in about five weeks, which is much faster than before. In comparison, it took over two months to add 2 million paid subscribers in 2016, from 11 million to 13 million, and another 2 months to hit 15 million. The next 2 million subscribers similarly took over two months to garner.
Data source: Apple and Spotify. Chart by author.
That might seem like modest acceleration at best, but every little bit helps as Spotify continues to grow and maintain its lead, thanks in part to growth in emerging markets that Appleaddresses poorlysince it does not have a free, ad-supported tier.
Perhaps more importantly, Spotify's paid subscriber growth is also accelerating, taking just five months to add the last 11 million subscribers, suggesting that the broader music-streaming market is strengthening. Like the old saying goes: A rising tide lifts all music-streaming services.
Apple Music is one of the most important pillars of the company's growing services business, which is now a $31 billion segment in terms of trailing-12-month revenue. Investors don't have a breakdown of the Apple Music subscriber base (i.e., how many people subscribe for a discounted annual plan or are part of a family plan), but a given user pays at most $120 per year ($10 per month). At that ceiling, Apple Music could be enjoying a revenue run rate north of $4.6 billion. Not bad for a service that was started less than three years ago.
Still, Spotify enjoys several advantages that are derived from strategic differences. Apple Music is available on Android, but that's about as far as the service goes with cross-platform support. Spotify has a massive stable of third-party integrations that guarantee its ubiquity, including all of the top smart speakers on the market.
In contrast, Apple Music is mostly reserved for the company's HomePod, and don't expect the service to get official support fromAmazon.com'sEcho family orAlphabetsubsidiary Google's Home family, both of which support Spotify as the default voice-controlled music service. Spotify will benefit by simply going where Apple won't.
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• 3 Growth Stocks at Deep-Value Prices
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• 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing
• 10 Best Stocks to Buy Today
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John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors.Evan Niu, CFAowns shares of Apple. The Motley Fool owns shares of and recommends GOOG, GOOGL, AMZN, and Apple. The Motley Fool has the following options: long January 2020 $150 calls on Apple and short January 2020 $155 calls on Apple. The Motley Fool has adisclosure policy. || Report: Apple Inc. Prepping a New 13.3-inch MacBook: A new report from DIGITIMES asserts that Apple (NASDAQ: AAPL) is planning to launch a "new entry-level MacBook at the end of the second quarter [of 2018]." The article published by the Taiwan-based media company claims the new computer will be priced roughly in line with the current MacBook Air (which starts at $999), suggesting that the new machine will effectively replace that model. An Apple MacBook Pro. Image source: Apple. Per DIGITIMES, this computer will have a 13.3-inch display featuring a resolution of 2560-by-1600 -- a substantial improvement from the low-quality 1600-by-900 resolution display of the current MacBook Air. Apple reportedly aims to ship 6 million units of the upcoming MacBook during 2018, but DIGITIMES Research analyst Jim Hsiao thinks that the machine won't be priced aggressively enough to hit that target: He expects Apple will only ship 4 million units this year. What does this mean for Apple's business? Let's dive in. Apple's share-gain strategy The overall personal computer market is in decline, so it's unsurprising that Apple would try to introduce products aimed at allowing it to capture share in certain market segments. A new MacBook priced similarly to the current MacBook Air -- one of Apple's best-selling notebooks of all time -- with upgraded internals and a substantially higher-quality screen, could accelerate such share gains. Right now, Apple has a strong notebook computer portfolio at the higher end of the market -- its MacBook Pros have best-in-class hardware, as does the standard MacBook. However, its aging, entry-level MacBook Air just isn't competitive. The processor inside it is three generations old, the screen is terrible, and its design now looks dated. There are many Windows-based options with superior hardware available for the same price. Given that Apple has been able to sell this computer in significant quantities despite its obvious competitive shortcomings, a dramatically updated model would likely be considerably more compelling to people who might otherwise have purchased a Windows-based machine. Story continues What this means for Apple's overall business During its fiscal 2017, Apple generated $229.2 billion in revenue. Of that total, $25.85 billion, or approximately 11%, came from Mac sales. That figure encompasses all of the Mac lines -- MacBook, MacBook Air, MacBook Pro, iMac, iMac Pro, and other products. So the impact that one new MacBook could have on Apple's business is likely quite low, given that the whole category represents only a small portion of its sales. On top of that, since Apple sells a significant number of higher-end computers, the potential impact of an updated, entry-level MacBook on the Mac business alone doesn't seem likely to be huge. To be clear: Apple's Mac business should benefit from having a more competitive entry-level laptop offering. The introduction of such a computer could help Apple gain market share, and encourage owners of older MacBooks to upgrade. However, in the grand scheme of things, it isn't going to make or break any Apple-related investment thesis. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Ashraf Eassa has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Apple. The Motley Fool has the following options: long January 2020 $150 calls on Apple and short January 2020 $155 calls on Apple. The Motley Fool has a disclosure policy . || Report: Apple Inc. Prepping a New 13.3-inch MacBook: A new report from DIGITIMES asserts thatApple(NASDAQ: AAPL)is planning to launch a "new entry-level MacBook at the end of the second quarter [of 2018]."
The article published by the Taiwan-based media company claims the new computer will be priced roughly in line with the current MacBook Air (which starts at $999), suggesting that the new machine will effectively replace that model.
Image source: Apple.
Per DIGITIMES, this computer will have a 13.3-inch display featuring a resolution of 2560-by-1600 -- a substantial improvement from the low-quality 1600-by-900 resolution display of the current MacBook Air.
Apple reportedly aims to ship 6 million units of the upcoming MacBook during 2018, but DIGITIMES Research analyst Jim Hsiao thinks that the machine won't be priced aggressively enough to hit that target: He expects Apple will only ship 4 million units this year.
What does this mean for Apple's business? Let's dive in.
The overall personal computer market is in decline, so it's unsurprising that Apple would try to introduce products aimed at allowing it to capture share in certain market segments. A new MacBook priced similarly to the current MacBook Air -- one of Apple's best-selling notebooks of all time -- with upgraded internals and a substantially higher-quality screen, could accelerate such share gains.
Right now, Apple has a strong notebook computer portfolio at the higher end of the market -- its MacBook Pros have best-in-class hardware, as does the standard MacBook. However, its aging, entry-level MacBook Air just isn't competitive. The processor inside it is three generations old, the screen is terrible, and its design now looks dated. There are many Windows-based options with superior hardware available for the same price.
Given that Apple has been able to sell this computer in significant quantities despite its obvious competitive shortcomings, a dramatically updated model would likely be considerably more compelling to people who might otherwise have purchased a Windows-based machine.
During its fiscal 2017, Apple generated $229.2 billion in revenue. Of that total, $25.85 billion, or approximately 11%, came from Mac sales. That figure encompasses all of the Mac lines -- MacBook, MacBook Air, MacBook Pro, iMac, iMac Pro, and other products. So the impact that one new MacBook could have on Apple's business is likely quite low, given that the whole category represents only a small portion of its sales.
On top of that, since Apple sells a significant number of higher-end computers, the potential impact of an updated, entry-level MacBook on the Mac business alone doesn't seem likely to be huge.
To be clear: Apple's Mac business should benefit from having a more competitive entry-level laptop offering. The introduction of such a computer could help Apple gain market share, and encourage owners of older MacBooks to upgrade. However, in the grand scheme of things, it isn't going to make or break any Apple-related investment thesis.
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Ashraf Eassahas no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Apple. The Motley Fool has the following options: long January 2020 $150 calls on Apple and short January 2020 $155 calls on Apple. The Motley Fool has adisclosure policy. || What's Wrong With John Oliver's Bitcoin-Beanie Baby Comparison: Mostof John Oliver's send-up of cryptocurrency was spot on.
On Sunday night's episode of "Last Week Tonight," the HBO host poked fun at bitcoin community icons and reminded viewers to exercise caution when investing.
"The important thing to remember here is this is a brand-new, very complicated space and literally nobody knows how it's going to develop, so you need to be careful," he said.
Oliver's explanations of blockchain technology and the nascent cryptocurrency industry were generally accurate, and the notes of caution were appropriate. Speaking of notes, guest star Keegan-Michael Key's parody of Carlos Matos, the exuberantBitconnectpromoter, drove the point home when he bellowed: "Re-spon-si-bility!"
But in one important respect, Oliver missed the mark by a long shot.
In his efforts to relate the story to a broad audience, the comedian trotted out a tired analogy, comparing bitcoin's volatile price to a $15,000 Beanie Baby, the plush toys that drove Americans into a buying frenzy circa the late 1990s.
He also described buying cryptocurrency as pure gambling, not investing - an oversimplification, to say the least.
It's worth nothing that it's been two decades since the Beanie Baby craze of the 1990s, and that some of the toy animals still sell for thousands of dollars online. Rare-toys appraiser Bruce Zalkin, for example, toldThe Wall Street Journala trio of Beanies that sold for roughly $1,299 in 1998 would probably fetch $50 today.
This devaluation highlights what makes Beanies fundamentally different from cryptocurrencies. Beanies didn't introduce any new technology to the collectibles market. Aside from unique traits such as color, these toys have generally remained the same over the years.
By comparison, bitcoin offered the building blocks for the blockchain technology boom sweeping the globe.
This technology is being applied to everything frommedical recordstoreal estatetransactionsandderivatives. Cryptocurrency itself already has diverse use cases, suchhelping sex workerssafely store wealth despite discriminatory banks. Some entrepreneurs, likeKorean beauty entrepreneurSunny Park ofMoonicskincare, accept cryptocurrency to help international customers avoid costly conversion rates and credit card fees.
ADigital Asset Research report in 2017went so far as to estimate current bitcoin use cases would make the currency worth around $2,074 without speculation. Even if that's well below the current market price, it sure as Satoshi ain't zero.
Developer Jimmy Song, apartner at Blockchain Capital, points out that decentralization plays a huge role in differentiating bitcoin from other speculative assets.
He told CoinDesk:
"Beanie Babies are made by Ty and you have to trust them to not flood the market with the more Beanie Babies... Bitcoin is more like gold which is also not produced by a central party."
Plus, bitcoin's underlying structure continues toundergo technological improvements.
A Beanie or gold ring purchased today won't gain any new features as it sits on the shelf. Meanwhile, people around the world are working to make bitcoinfaster and easier to use. If someone goes to use his or her cryptocurrency stash after several years of storage, this digital asset may have gained new capabilities.
It may even offer access to additional tokens deposited by anairdrop, such as when bitcoin owners claimed free bitcoin cash tokens after the bitcoinnetwork fork.These users passively collected new tokens just by owning bitcoin.
In this way, comparing a dynamic cryptocurrency to a physical asset is apples-and-oranges at best.
Bitcoin is both traceable and generally fungible, i.e. mutually interchangeable (though to be fair these characteristicscan conflict with each other).
By contrast, some physical assets are registered or certified, while bars of gold may be theoretically interchangeable. Few assets offer both options. Song pointed out how bitcoin's characteristics differentiate it from other assets.
"Besides decentralization, these properties include fungibility, portability, durability, verifiability and divisibility. Clearly, Beanie Babies vary in quality, even among the same exact toy. They must be shipped and can get damaged. They are certainly not divisible to smaller units," he said.
Blockchain-based collectibles like the ethereum-fueled gameCryptoKittieshave much more in common with Beanies. They are valued for their rare traits and primarily used for entertainment or trading. Yet, even digital kitties offer potential beyond their soft and squishy predecessors.
People canbreed their CryptoKittiesto create a new digital asset, which is obviously impossible with physical collectibles. Bryce Bladon, communications director at CryptoKitties' genesis studio Axiom Zen, told CoinDesk:
"Personalization, interactivity, extensibility - these are all things possible with things like cryptocollectibles."
All things considered, the only thing Beanies have in common with bitcoin is scarcity.
As for the gambling comparison, cryptocurrency is an extremely risky investment, as Oliver rightly pointed out. But depending on the buyer, it is not necessarily a roll of the dice, because expert insight can decipher which cryptocurrencies have functioning use cases.
The rest may indeed turn out to be collectible fluff.
Beanie Babyimage via Shutterstock
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• UK Government Announces New Cryptocurrency Research Effort || What's Wrong With John Oliver's Bitcoin-Beanie Baby Comparison: Mostof John Oliver's send-up of cryptocurrency was spot on.
On Sunday night's episode of "Last Week Tonight," the HBO host poked fun at bitcoin community icons and reminded viewers to exercise caution when investing.
"The important thing to remember here is this is a brand-new, very complicated space and literally nobody knows how it's going to develop, so you need to be careful," he said.
Oliver's explanations of blockchain technology and the nascent cryptocurrency industry were generally accurate, and the notes of caution were appropriate. Speaking of notes, guest star Keegan-Michael Key's parody of Carlos Matos, the exuberantBitconnectpromoter, drove the point home when he bellowed: "Re-spon-si-bility!"
But in one important respect, Oliver missed the mark by a long shot.
In his efforts to relate the story to a broad audience, the comedian trotted out a tired analogy, comparing bitcoin's volatile price to a $15,000 Beanie Baby, the plush toys that drove Americans into a buying frenzy circa the late 1990s.
He also described buying cryptocurrency as pure gambling, not investing - an oversimplification, to say the least.
It's worth nothing that it's been two decades since the Beanie Baby craze of the 1990s, and that some of the toy animals still sell for thousands of dollars online. Rare-toys appraiser Bruce Zalkin, for example, toldThe Wall Street Journala trio of Beanies that sold for roughly $1,299 in 1998 would probably fetch $50 today.
This devaluation highlights what makes Beanies fundamentally different from cryptocurrencies. Beanies didn't introduce any new technology to the collectibles market. Aside from unique traits such as color, these toys have generally remained the same over the years.
By comparison, bitcoin offered the building blocks for the blockchain technology boom sweeping the globe.
This technology is being applied to everything frommedical recordstoreal estatetransactionsandderivatives. Cryptocurrency itself already has diverse use cases, suchhelping sex workerssafely store wealth despite discriminatory banks. Some entrepreneurs, likeKorean beauty entrepreneurSunny Park ofMoonicskincare, accept cryptocurrency to help international customers avoid costly conversion rates and credit card fees.
ADigital Asset Research report in 2017went so far as to estimate current bitcoin use cases would make the currency worth around $2,074 without speculation. Even if that's well below the current market price, it sure as Satoshi ain't zero.
Developer Jimmy Song, apartner at Blockchain Capital, points out that decentralization plays a huge role in differentiating bitcoin from other speculative assets.
He told CoinDesk:
"Beanie Babies are made by Ty and you have to trust them to not flood the market with the more Beanie Babies... Bitcoin is more like gold which is also not produced by a central party."
Plus, bitcoin's underlying structure continues toundergo technological improvements.
A Beanie or gold ring purchased today won't gain any new features as it sits on the shelf. Meanwhile, people around the world are working to make bitcoinfaster and easier to use. If someone goes to use his or her cryptocurrency stash after several years of storage, this digital asset may have gained new capabilities.
It may even offer access to additional tokens deposited by anairdrop, such as when bitcoin owners claimed free bitcoin cash tokens after the bitcoinnetwork fork.These users passively collected new tokens just by owning bitcoin.
In this way, comparing a dynamic cryptocurrency to a physical asset is apples-and-oranges at best.
Bitcoin is both traceable and generally fungible, i.e. mutually interchangeable (though to be fair these characteristicscan conflict with each other).
By contrast, some physical assets are registered or certified, while bars of gold may be theoretically interchangeable. Few assets offer both options. Song pointed out how bitcoin's characteristics differentiate it from other assets.
"Besides decentralization, these properties include fungibility, portability, durability, verifiability and divisibility. Clearly, Beanie Babies vary in quality, even among the same exact toy. They must be shipped and can get damaged. They are certainly not divisible to smaller units," he said.
Blockchain-based collectibles like the ethereum-fueled gameCryptoKittieshave much more in common with Beanies. They are valued for their rare traits and primarily used for entertainment or trading. Yet, even digital kitties offer potential beyond their soft and squishy predecessors.
People canbreed their CryptoKittiesto create a new digital asset, which is obviously impossible with physical collectibles. Bryce Bladon, communications director at CryptoKitties' genesis studio Axiom Zen, told CoinDesk:
"Personalization, interactivity, extensibility - these are all things possible with things like cryptocollectibles."
All things considered, the only thing Beanies have in common with bitcoin is scarcity.
As for the gambling comparison, cryptocurrency is an extremely risky investment, as Oliver rightly pointed out. But depending on the buyer, it is not necessarily a roll of the dice, because expert insight can decipher which cryptocurrencies have functioning use cases.
The rest may indeed turn out to be collectible fluff.
Beanie Babyimage via Shutterstock
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• UK Government Announces New Cryptocurrency Research Effort || What's Wrong With John Oliver's Bitcoin-Beanie Baby Comparison: Most of John Oliver's send-up of cryptocurrency was spot on. On Sunday night's episode of " Last Week Tonight, " the HBO host poked fun at bitcoin community icons and reminded viewers to exercise caution when investing. "The important thing to remember here is this is a brand-new, very complicated space and literally nobody knows how it's going to develop, so you need to be careful," he said. Oliver's explanations of blockchain technology and the nascent cryptocurrency industry were generally accurate, and the notes of caution were appropriate. Speaking of notes, guest star Keegan-Michael Key's parody of Carlos Matos, the exuberant Bitconnect promoter, drove the point home when he bellowed: "Re-spon-si-bility!" But in one important respect, Oliver missed the mark by a long shot. In his efforts to relate the story to a broad audience, the comedian trotted out a tired analogy, comparing bitcoin's volatile price to a $15,000 Beanie Baby, the plush toys that drove Americans into a buying frenzy circa the late 1990s. He also described buying cryptocurrency as pure gambling, not investing - an oversimplification, to say the least. Beanie bust It's worth nothing that it's been two decades since the Beanie Baby craze of the 1990s, and that some of the toy animals still sell for thousands of dollars online. Rare-toys appraiser Bruce Zalkin, for example, told The Wall Street Journal a trio of Beanies that sold for roughly $1,299 in 1998 would probably fetch $50 today. This devaluation highlights what makes Beanies fundamentally different from cryptocurrencies. Beanies didn't introduce any new technology to the collectibles market. Aside from unique traits such as color, these toys have generally remained the same over the years. By comparison, bitcoin offered the building blocks for the blockchain technology boom sweeping the globe. This technology is being applied to everything from medical records to real estate transactions and derivatives . Cryptocurrency itself already has diverse use cases, such helping sex workers safely store wealth despite discriminatory banks. Some entrepreneurs, like Korean beauty entrepreneur Sunny Park of Moonic skincare, accept cryptocurrency to help international customers avoid costly conversion rates and credit card fees. A Digital Asset Research report in 2017 went so far as to estimate current bitcoin use cases would make the currency worth around $2,074 without speculation. Even if that's well below the current market price, it sure as Satoshi ain't zero. Story continues Developer Jimmy Song, a partner at Blockchain Capital , points out that decentralization plays a huge role in differentiating bitcoin from other speculative assets. He told CoinDesk: "Beanie Babies are made by Ty and you have to trust them to not flood the market with the more Beanie Babies... Bitcoin is more like gold which is also not produced by a central party." Plus, bitcoin's underlying structure continues to undergo technological improvements . A Beanie or gold ring purchased today won't gain any new features as it sits on the shelf. Meanwhile, people around the world are working to make bitcoin faster and easier to use . If someone goes to use his or her cryptocurrency stash after several years of storage, this digital asset may have gained new capabilities. It may even offer access to additional tokens deposited by an airdrop , such as when bitcoin owners claimed free bitcoin cash tokens after the bitcoin network fork. These users passively collected new tokens just by owning bitcoin. Physical vs. digital In this way, comparing a dynamic cryptocurrency to a physical asset is apples-and-oranges at best. Bitcoin is both traceable and generally fungible, i.e. mutually interchangeable (though to be fair these characteristics can conflict with each other ). By contrast, some physical assets are registered or certified, while bars of gold may be theoretically interchangeable. Few assets offer both options. Song pointed out how bitcoin's characteristics differentiate it from other assets. "Besides decentralization, these properties include fungibility, portability, durability, verifiability and divisibility. Clearly, Beanie Babies vary in quality, even among the same exact toy. They must be shipped and can get damaged. They are certainly not divisible to smaller units," he said. Blockchain-based collectibles like the ethereum-fueled game CryptoKitties have much more in common with Beanies. They are valued for their rare traits and primarily used for entertainment or trading. Yet, even digital kitties offer potential beyond their soft and squishy predecessors. People can breed their CryptoKitties to create a new digital asset, which is obviously impossible with physical collectibles. Bryce Bladon, communications director at CryptoKitties' genesis studio Axiom Zen, told CoinDesk: "Personalization, interactivity, extensibility - these are all things possible with things like cryptocollectibles." All things considered, the only thing Beanies have in common with bitcoin is scarcity. As for the gambling comparison, cryptocurrency is an extremely risky investment, as Oliver rightly pointed out. But depending on the buyer, it is not necessarily a roll of the dice, because expert insight can decipher which cryptocurrencies have functioning use cases. The rest may indeed turn out to be collectible fluff. Beanie Baby image via Shutterstock Related Stories Crypto Freeloaders? The Strong Case for Higher Fees Snowden Leak Suggests NSA Is Extensively Tracking Bitcoin Users $9K Ahead? Bitcoin Looks North After Bull Breakout UK Government Announces New Cryptocurrency Research Effort View comments || Why Walt Disney Investors Sent a Shocking Message to Leadership: The Walt Disney Company (NYSE: DIS) sent a powerful message to CEO Bob Iger this month by rejecting the executive compensation plan laid out for him and other C-suite executives. Preliminary results found 52% of shareholders voted against Disney's plan while 44% voted in favor (4% abstained from the vote). While this is certainly not the outcome Iger and the rest of the C-suite would have wanted, it's important that the vote was non-binding (read: Iger and executives will most likely retain the current package). The board's compensation chair, Aylwin Lewis, released a statement [emphasis mine]: "The board accepts the result of today's non-binding vote and will take it under advisement for future CEO compensation." A man cutting the cable cord on his TV with a pair of scissors. Cord-cutting is at the root of Disney's problems. Image source: Getty Images. Are investors being short-sighted? Wall Street has always been a myopic bunch, but this broadside against Iger seems particularly misguided. Iger's brilliant acquisitions of Pixar in 2006, Marvel in 2009, and Lucasfilm in 2012 have turbocharged the company's film studio division. Since 2013 the studio has grown from approximately 6% of total operating income to 16% by growing this figure 37% per year . Looking over Iger's full tenure, you can see the CEO has trounced the greater S&P 500: DIS Chart DIS data by YCharts However, if shareholders do have a legitimate criticism of Iger, it's likely the failure -- or unwillingness -- to accept the rapidly changing environment for the company's media networks division. For the last three years, the stock has been stuck in neutral as the S&P 500 has advanced by 32%. As is often the case, Disney's biggest strength has become its greatest weakness. More recently the media networks division -- its largest -- has suffered amid cord-cutting and struggles from its crown jewel ESPN family of networks. At a monthly cost of more than $9 , the sports-themed networks have seen its subscriber count recently drop, prompting year-over-year declines from the division and sluggish financial results. Story continues Iger will not become Eisner, but management is on the clock In a way, this vote harkens to a dark chapter in Disney's history. In 2004, then CEO Michael Eisner was unceremoniously stripped of his role of board chairman after 43% of shareholders opposed his re-election. He retained the CEO role, but soon thereafter left the company, paving the way for Iger to step in. Eisner has been partially vindicated in recent years -- after all, it was Eisner who purchased ESPN in 1995 , although it appears unwittingly so as the deal was mostly for ABC. It's unlikely Iger will share Eisner's fate, although this vote does point to potential unrest from Disney's shareholders. Disney has taken initial steps to compete in an unbundled-cable world, but it's likely to be a volatile period with many failures in the short term. It's hard for me, or nearly any American, to argue for a multi-million dollar pay package when the median household income is $59,000, but to act as if Iger hasn't been a legendary and transformative corporate executive is a folly. However, this is a clear sign that management is on the clock to solve the cord-cutting problem and its planned streaming services need to be a company focus -- not a side project. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Jamal Carnette, CFA has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Walt Disney. The Motley Fool has a disclosure policy . || Why Walt Disney Investors Sent a Shocking Message to Leadership: The Walt Disney Company(NYSE: DIS)sent a powerful message to CEO Bob Iger this month by rejecting the executive compensation plan laid out for him and other C-suite executives. Preliminary results found 52% of shareholders voted against Disney's plan while 44% voted in favor (4% abstained from the vote).
While this is certainly not the outcome Iger and the rest of the C-suite would have wanted, it's important that the vote was non-binding (read: Iger and executives will most likely retain the current package). The board's compensation chair, Aylwin Lewis, released a statement [emphasis mine]: "The board accepts the result of today'snon-binding voteand will take it under advisement forfutureCEO compensation."
Cord-cutting is at the root of Disney's problems. Image source: Getty Images.
Wall Street has always been a myopic bunch, but this broadside against Iger seems particularly misguided.Iger's brilliant acquisitionsof Pixar in 2006, Marvel in 2009, and Lucasfilm in 2012 have turbocharged the company's film studio division. Since 2013 the studio has grown from approximately 6% of total operating income to 16%by growing this figure 37% per year. Looking over Iger's full tenure, you can see the CEO has trounced the greater S&P 500:
DISdata byYCharts
However, if shareholders do have a legitimate criticism of Iger, it's likely the failure -- or unwillingness -- to accept the rapidly changing environment for the company's media networks division. For the last three years, the stock has been stuck in neutral as the S&P 500 has advanced by 32%.
As is often the case, Disney's biggest strength has become its greatest weakness. More recently the media networks division -- its largest -- has suffered amid cord-cutting and struggles from its crown jewel ESPN family of networks.At a monthly cost of more than $9, the sports-themed networks have seen its subscriber count recently drop, prompting year-over-year declines from the division and sluggish financial results.
In a way, this vote harkens to a dark chapter in Disney's history. In 2004, then CEO Michael Eisner was unceremoniously stripped of his role of board chairman after 43% of shareholders opposed his re-election. He retained the CEO role, but soon thereafter left the company, paving the way for Iger to step in.
Eisner has been partially vindicated in recent years -- after all,it was Eisner who purchased ESPN in 1995, although it appears unwittingly so as the deal was mostly for ABC. It's unlikely Iger will share Eisner's fate, although this vote does point to potential unrest from Disney's shareholders. Disney has taken initial steps to compete in an unbundled-cable world, but it's likely to be a volatile period with many failures in the short term.
It's hard for me, or nearly any American, to argue for a multi-million dollar pay package when the median household income is $59,000, but to act as if Iger hasn't been a legendary and transformative corporate executive is a folly. However, this is a clear sign that management is on the clock to solve the cord-cutting problem and its planned streaming services need to be a company focus -- not a side project.
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Jamal Carnette, CFAhas no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Walt Disney. The Motley Fool has adisclosure policy. || Why Micron Technology, Inc. Stock Jumped as Much as 12% Higher Today: Shares ofMicron Technology(NASDAQ: MU)rose as much as 12.1% higher on Monday, peaking just after 1 p.m. EDT. At the end of the day, Micron's stock closed 8.8% above Friday's final listing price. Two analyst firms raised their price targets on the memory chip veteran's stock, supported by some remarkably bullish commentary.
Evercore ISI analyst C.J. Muse boosted Micron's target price from $60 to $80 per share, citing a fundamentally different memory market that "absolutely" isn't destined to fight another round of pricing wars.
At Nomura/Instinet, veteran chip analyst Romit Shah moved Micron's price target from $55 to a cool $100 per share. The stock is in the "early stages of another major breakout," in Shah's view. If nothing else, he argues that Micron's shares should gather larger price-to-earnings multiples as investors start to embrace the new industry conditions. As a reminder, Micron is trading at a bargain-basement P/E ratio of 9.3 times trailing earnings today.
Both analysts already held "buy" ratings on Micron's stock. No change there.
Image source: Getty Images.
The bullish firms agree that Micron should be able to protect and even widen its profit margins in both the NAND and DRAM chip sectors, even as shipping volumes are set to increase sharply in the near future. Manufacturing costs are shrinking, Micron's product mix is getting richer due to strong demand for high-end mobile and data center products, and again, the era of constant price wars appears to be over.
As a longtime Micron shareholder myself, these analyst notes echomy own investment thesisin many ways. It's always good to hear independent confirmation of those core business advantages. Moreover, Muse expects Micron to kick off a brand new dividend policy at the upcoming analyst day in late May. That would be news to me, but it's a shareholder-friendly idea anyhow.
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Anders Bylundowns shares of Micron Technology. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has adisclosure policy. || Why Micron Technology, Inc. Stock Jumped as Much as 12% Higher Today: What happened Shares of Micron Technology (NASDAQ: MU) rose as much as 12.1% higher on Monday, peaking just after 1 p.m. EDT. At the end of the day, Micron's stock closed 8.8% above Friday's final listing price. Two analyst firms raised their price targets on the memory chip veteran's stock, supported by some remarkably bullish commentary. So what Evercore ISI analyst C.J. Muse boosted Micron's target price from $60 to $80 per share, citing a fundamentally different memory market that "absolutely" isn't destined to fight another round of pricing wars. At Nomura/Instinet, veteran chip analyst Romit Shah moved Micron's price target from $55 to a cool $100 per share. The stock is in the "early stages of another major breakout," in Shah's view. If nothing else, he argues that Micron's shares should gather larger price-to-earnings multiples as investors start to embrace the new industry conditions. As a reminder, Micron is trading at a bargain-basement P/E ratio of 9.3 times trailing earnings today. Both analysts already held "buy" ratings on Micron's stock. No change there. Close-up shot of a few uncut semiconductor wafers. Image source: Getty Images. Now what The bullish firms agree that Micron should be able to protect and even widen its profit margins in both the NAND and DRAM chip sectors, even as shipping volumes are set to increase sharply in the near future. Manufacturing costs are shrinking, Micron's product mix is getting richer due to strong demand for high-end mobile and data center products, and again, the era of constant price wars appears to be over. As a longtime Micron shareholder myself, these analyst notes echo my own investment thesis in many ways. It's always good to hear independent confirmation of those core business advantages. Moreover, Muse expects Micron to kick off a brand new dividend policy at the upcoming analyst day in late May. That would be news to me, but it's a shareholder-friendly idea anyhow. Story continues More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Anders Bylund owns shares of Micron Technology. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy . || What Happened in the Stock Market Today: The stock market was mixed on Monday after President Trump formally implemented his planned steel and aluminum tariffs. Though the new import tax excluded key U.S. trade partners Canada and Mexico, they sparked fresh fears over an impending trade war with other affected countries.
TheDow Jones Industrial Average(DJINDICES: ^DJI)and theS&P 500(SNPINDEX: ^GSPC)both ended the day in negative territory.
[{"Index": "Dow", "Percentage Change": "(0.62%)", "Point Change": "(157.13)"}, {"Index": "S&P 500", "Percentage Change": "(0.13%)", "Point Change": "(3.55)"}]
Data source: Yahoo! Finance.
Industrials stocks were among the hardest hit today, with theIndustrial Select Sector SPDR Fund(NYSEMKT: XLI)down 1.2% as investors worried the tariffs may increase costs and negatively impact international sales for companies likeBoeingandCaterpillar. But tech stocks bucked the negative trend, with theTechnology Select Sector SPDR Fund(NYSEMKT: XLK)rising 0.31%.
As for individual stocks, contrasting opinions from Wall Street sent shares ofMicron(NASDAQ: MU)andDeckers Outdoor(NYSE: DECK)different directions.
Image source: Getty Images.
After soaring more than 100% over the past year, shares of Micron Technology popped another 8.8% today after Nomura analyst Romit Shah reiterated his buy rating and increased his per-share price target from $55 to $100. Micron stock closed today at $59.37 per share.
To justify his sustained optimism, Shah pointed to a combination of the potential for suppliers to increase DRAM prices later this year, favorable product mix that should help boost margins both this fiscal year and next, and Micron's cash-rich balance sheet providing the flexibility to pay down its entire convertible note balance. Shah also suggested that as one of "few remaining chip companies with a growing scale," Micron could be an attractive merger or acquisition target.
To be sure, Micron is easy to love of late. Shares only justclimbed nearly 12%in the month of February after the company announced stronger-than-expected preliminary fiscal Q2 results. Management cited the continued execution of Micron's "strategic priorities" at the time, promising more details on its exceptional quarter when it releases final results on March 22, 2018.
Shares of Deckers Outdoor fell 7.4% after another analyst voiced caution for investors in the footwear designer and distributor. Pivotal Research Group's Mitch Kummetz today reduced his rating on Deckers to hold from buy, reducing his per-share price target to $108 from $122, which is curiously a 19% premium to today's closing price at of $90.28 per share.
Kummetz explained that his firm's previous bullish position hinged on Deckers -- whose brands include Uggs, Sanuk, Teva, and Hoka One One -- being nicely positioned to benefit from a strong winter season. But while he continues to like its long-term story, Deckers stock is up nearly 50% since the beginning of September. As such, Kummetz believes the current risk-reward scenario is simply less attractive.
For perspective, Deckers most recently impressed the market when it announced stronger-than-expectedfiscal third-quarterresults early last month, helped by what CEO Dave Powers described as "refined product strategies, enhanced consumer messaging," and the optimization of wholesale accounts. Cold weather also boosted sales of Ugg-brand footwear during the key holiday season.
That's not to say Deckers can't continue to climb from here, especially if it's able to sustain its recent outperformance into the spring season. But given Deckers' recent share-price gains, it's hard to blame some investors for taking profits off the table.
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Steve Symingtonhas no position in any of the stocks mentioned. The Motley Fool recommends Deckers Outdoor. The Motley Fool has adisclosure policy. || What Happened in the Stock Market Today: The stock market was mixed on Monday after President Trump formally implemented his planned steel and aluminum tariffs. Though the new import tax excluded key U.S. trade partners Canada and Mexico, they sparked fresh fears over an impending trade war with other affected countries. The Dow Jones Industrial Average (DJINDICES: ^DJI) and the S&P 500 (SNPINDEX: ^GSPC) both ended the day in negative territory. Today's stock market Index Percentage Change Point Change Dow (0.62%) (157.13) S&P 500 (0.13%) (3.55) Data source: Yahoo! Finance. Industrials stocks were among the hardest hit today, with the Industrial Select Sector SPDR Fund (NYSEMKT: XLI) down 1.2% as investors worried the tariffs may increase costs and negatively impact international sales for companies like Boeing and Caterpillar . But tech stocks bucked the negative trend, with the Technology Select Sector SPDR Fund (NYSEMKT: XLK) rising 0.31%. As for individual stocks, contrasting opinions from Wall Street sent shares of Micron (NASDAQ: MU) and Deckers Outdoor (NYSE: DECK) different directions. Stock market prices and charts on a colorful digital display Image source: Getty Images. Could Micron double again? After soaring more than 100% over the past year, shares of Micron Technology popped another 8.8% today after Nomura analyst Romit Shah reiterated his buy rating and increased his per-share price target from $55 to $100. Micron stock closed today at $59.37 per share. To justify his sustained optimism, Shah pointed to a combination of the potential for suppliers to increase DRAM prices later this year, favorable product mix that should help boost margins both this fiscal year and next, and Micron's cash-rich balance sheet providing the flexibility to pay down its entire convertible note balance. Shah also suggested that as one of "few remaining chip companies with a growing scale," Micron could be an attractive merger or acquisition target. To be sure, Micron is easy to love of late. Shares only just climbed nearly 12% in the month of February after the company announced stronger-than-expected preliminary fiscal Q2 results. Management cited the continued execution of Micron's "strategic priorities" at the time, promising more details on its exceptional quarter when it releases final results on March 22, 2018. Story continues Deckers Outdoor hits the floor Shares of Deckers Outdoor fell 7.4% after another analyst voiced caution for investors in the footwear designer and distributor. Pivotal Research Group's Mitch Kummetz today reduced his rating on Deckers to hold from buy, reducing his per-share price target to $108 from $122, which is curiously a 19% premium to today's closing price at of $90.28 per share. Kummetz explained that his firm's previous bullish position hinged on Deckers -- whose brands include Uggs, Sanuk, Teva, and Hoka One One -- being nicely positioned to benefit from a strong winter season. But while he continues to like its long-term story, Deckers stock is up nearly 50% since the beginning of September. As such, Kummetz believes the current risk-reward scenario is simply less attractive. For perspective, Deckers most recently impressed the market when it announced stronger-than-expected fiscal third-quarter results early last month, helped by what CEO Dave Powers described as "refined product strategies, enhanced consumer messaging," and the optimization of wholesale accounts. Cold weather also boosted sales of Ugg-brand footwear during the key holiday season. That's not to say Deckers can't continue to climb from here, especially if it's able to sustain its recent outperformance into the spring season. But given Deckers' recent share-price gains, it's hard to blame some investors for taking profits off the table. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Steve Symington has no position in any of the stocks mentioned. The Motley Fool recommends Deckers Outdoor. The Motley Fool has a disclosure policy . || Why Tesla, Oclaro, and Alnylam Pharmaceuticals Jumped Today: The stock market was mixed on Monday, as certain major benchmarks were weak while others climbed higher. Technology once again was a strong contributor to upward stock moves, and the Nasdaq Composite reached another record high. Yet fears about the impact of tariffs on companies that depend on exports sent the Dow Jones Industrial Average down sharply. Amid the turbulence, some companies had very good days. Tesla (NASDAQ: TSLA) , Oclaro (NASDAQ: OCLR) , and Alnylam Pharmaceuticals (NASDAQ: ALNY) were among the best performers. Here's why they did so well. Tesla drives ahead Shares of Tesla rose almost 6% in the wake of reports that the company made favorable changes to its production process. The electric-car maker said that it suspended production of its mass market Model 3 vehicles for a week during the month of February, purposely accepting a pause on manufacturing in order to make the process more efficient for the future. The company said that such suspensions are designed "to improve automation and systematically address bottlenecks in order to increase production rates." With demand so high for Tesla vehicles , any move that leads to accelerated production is a positive in investors' eyes. White Tesla Model X vehicle with rear doors open. Image source: Tesla. Oclaro gets clear interest Oclaro stock jumped more than 27% after the optical components manufacturer received a buyout bid from industry peer Lumentum Holdings (NASDAQ: LITE) . Under the terms of the $1.8 billion deal, Oclaro shareholders will receive $5.60 per share in cash plus 0.0636 shares of Lumentum in exchange for their stock, worth a total of $9.99 per share. Oclaro CEO Greg Dougherty said that the combination should produce "an even stronger player in fiber optic components and modules for high-speed communications" and make it "a market leader in 3D sensing." Investors on both sides of the transaction were happy, as Lumentum stock also gained ground following the announcement. Story continues Alnylam goes it alone for FDA approval Finally, shares of Alnylam Pharmaceuticals picked up 7%. The biotech said Monday morning that partner Sanofi Genzyme, which is the specialty care global business unit for Sanofi , had chosen not to opt in for the further development and commercialization of its lumasiran treatment for a rare condition known as primary hyperoxaluria. Alnylam also said that the U.S. Food and Drug Administration has granted breakthrough therapy designation to lumasiran, opening the door to an expedited process for eventual approval. Analysts following the stock saw the decision as positive, and Alnylam will be able to reap the rewards of any future success lumasiran is able to achieve in the future. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Dan Caplinger has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Alnylam Pharmaceuticals and Tesla. The Motley Fool has a disclosure policy . || Why Tesla, Oclaro, and Alnylam Pharmaceuticals Jumped Today: The stock market was mixed on Monday, as certain major benchmarks were weak while others climbed higher. Technology once again was a strong contributor to upward stock moves, and the Nasdaq Composite reached another record high. Yet fears about the impact of tariffs on companies that depend on exports sent the Dow Jones Industrial Average down sharply. Amid the turbulence, some companies had very good days. Tesla (NASDAQ: TSLA) , Oclaro (NASDAQ: OCLR) , and Alnylam Pharmaceuticals (NASDAQ: ALNY) were among the best performers. Here's why they did so well. Tesla drives ahead Shares of Tesla rose almost 6% in the wake of reports that the company made favorable changes to its production process. The electric-car maker said that it suspended production of its mass market Model 3 vehicles for a week during the month of February, purposely accepting a pause on manufacturing in order to make the process more efficient for the future. The company said that such suspensions are designed "to improve automation and systematically address bottlenecks in order to increase production rates." With demand so high for Tesla vehicles , any move that leads to accelerated production is a positive in investors' eyes. White Tesla Model X vehicle with rear doors open. Image source: Tesla. Oclaro gets clear interest Oclaro stock jumped more than 27% after the optical components manufacturer received a buyout bid from industry peer Lumentum Holdings (NASDAQ: LITE) . Under the terms of the $1.8 billion deal, Oclaro shareholders will receive $5.60 per share in cash plus 0.0636 shares of Lumentum in exchange for their stock, worth a total of $9.99 per share. Oclaro CEO Greg Dougherty said that the combination should produce "an even stronger player in fiber optic components and modules for high-speed communications" and make it "a market leader in 3D sensing." Investors on both sides of the transaction were happy, as Lumentum stock also gained ground following the announcement. Story continues Alnylam goes it alone for FDA approval Finally, shares of Alnylam Pharmaceuticals picked up 7%. The biotech said Monday morning that partner Sanofi Genzyme, which is the specialty care global business unit for Sanofi , had chosen not to opt in for the further development and commercialization of its lumasiran treatment for a rare condition known as primary hyperoxaluria. Alnylam also said that the U.S. Food and Drug Administration has granted breakthrough therapy designation to lumasiran, opening the door to an expedited process for eventual approval. Analysts following the stock saw the decision as positive, and Alnylam will be able to reap the rewards of any future success lumasiran is able to achieve in the future. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Dan Caplinger has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Alnylam Pharmaceuticals and Tesla. The Motley Fool has a disclosure policy . || Does Kinder Morgan Inc Still Have a Debt Problem?: In late 2015,Kinder Morgan(NYSE: KMI)hit a wall. Due to the continued deterioration in the oil market, one of the company's credit rating agencies warned that it could lose its investment-grade credit rating if it didn't do something to get its growing leverage under control. That alert forced the company to take several actions to improve its financial situation.
Those steps have allowed the company to push its leverage ratio down toward its target level. However, despite all of this progress, shares of the pipeline giant have remained under pressure and are down by 25% in the past year even though cash flow remained stable. One reason for the weakness could be that its current leverage target, while an improvement, is still too high compared to peers.
Image source: Getty Images.
It was toward the end of 2015 when Kinder Morgan teamed up with infrastructure giantBrookfield Infrastructure Partnersto increase their ownership in the Natural Gas Pipeline Company of America, which was a deeply indebted pipeline joint venture. However, in taking joint control of the $3.4 billion pipeline company, Kinder Morgan had to consolidate its share of the entity's debt. That pushed Kinder Morgan's leverage ratio to an unnerving 5.9 times debt to adjustedEBITDA, causingMoody'sto warn that it might downgrade Kinder Morgan's credit rating if it didn't get that number below 5.8 times. However, the credit rating agency also hinted that a sub-5.0 level could win it an upgrade.
Kinder Morgan took immediate heed of that warning and slashed its dividend 75%, which allowed it to fully fund capital spending within cash flow while freeing up additional cash to pay down debt. That bought it some time to continue driving down leverage, which itdid over the next year. As a result of those actions, Kinder Morgan has reduced debt by nearly $6 billion since 2015 and ended last year with a leverage ratio of 5.1, which is what it expects for 2018. Because the company hit its target, it's comfortable returning more cash to investors this year, including plans to boost its dividend 60% andbuy back some of its stock.
Image source: Getty Images.
That said, the market still doesn't seem all that enthralled with Kinder Morgan's progress. That's evident by looking at its valuation, which is at the bottom of its peer group: Shares cost eight times cash flow while most rivals sell for around 12 times cash flow. One reason for this rock-bottom valuation could be that peers have even lower leverage targets.
ONEOK(NYSE: OKE), for example, recentlyaccomplishedits goal to get its leverage ratio below 4, which CFO Walt Hulse noted "put us at our target a year earlier than we expected." While he did say that he expects the leverage ratio to rise as the company reaches the later stages of construction on some of its expansion projects, he stated: "[W]e continue to view four times or less, as an important target for ONEOK in the long term." That lower leverage ratio could be one reason why ONEOK has one of the highest valuations in its peer group at more than 15 times cash flow.
Canadian pipeline giantEnbridge(NYSE: ENB), on the other hand, has been under some pressure to get its leverage ratio lower, which has weighed on its valuation, pushing it down toward nine times cash flow. The company initially anticipated that in-process expansion projects would slowly drive its leverage ratio from more than 5.5 last year down to less than 5 by next year. However, Enbridge recently announced efforts to accelerate this progress, including selling as much as 3 billion Canadian dollars ($2.3 billion) in assets this year. As a result, Enbridge expects its leverage ratio to reach 5 by the end of this year and trend toward 4.5 by 2020, which it hopes will relieve some of the pressure its debt level has had on the stock price over the past year.
Meanwhile, several pipeline MLPs have set their sights on getting leverage below 4 times.Plains All American Pipeline(NYSE: PAA), for example, announced a de-leveraging plan last August. That strategy will see the company pay off $1.6 billion in debt by early next year so that it can get its leverage ratio down from 4.8 to its target level of 3.5-4. Plains All American Pipeline is one of several MLPs to set its sights on that lower level since rivals with sub-4 leverage ratios tend to sell at premium valuations.
While Kinder Morgan has more than appeased the credit rating agencies with its leverage reduction efforts, investors apparently want more. That's not all that surprising, as many of its peers have set their leverage targets much lower. Kinder Morgan would likely benefit from fleshing out its vague promise to "de-lever the balance sheet further" by putting firm numbers and a timeline on a plan that will drive that number down quickly. That would help increase investor confidence in the company's long-term sustainability and might finally lift the weight that has been holding down the stock price.
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Matthew DiLalloowns shares of Brookfield Infrastructure Partners, Enbridge, and Kinder Morgan and has the following options: short March 2018 $17 puts on Kinder Morgan. The Motley Fool owns shares of and recommends Enbridge, Kinder Morgan, Moody's, and ONEOK. The Motley Fool recommends Brookfield Infrastructure Partners. The Motley Fool has adisclosure policy.
[Social Media Buzz]
03/13 10:00現在(Zaif調べ)
#Bitcoin : 992,460円↑1.02%
#NEM #XEM : 44円↑4.76%
#Monacoin : 452円↑1.12%
#Ethereum : 76,035円↑1.33%
#Zaif : 1円↑0% || 13 Mart 2018 Saat 11:00:01, Bitcoin Ne Kadar Oldu, 35.358,50 TL. #BTCTRY #btctl #bitcoinfiyatihttp://www.doviz724.com/1-bitcoin-kac-tl.html … || Learn about the Latest #TechnologyNews #DarkNet #DarkWeb #Cryptocurrency #Blogging #Hacking at one place more esily. Follow https://t.co/lUo70zFLZx & read blogs. Also comment. #thetechlearner #BloggerRajdeepDas #Wo...
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8269.81, 8300.86, 8338.35, 7916.88, 8223.68, 8630.65, 8913.47, 8929.28, 8728.47, 8879.62
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Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 403.42, 411.56, 386.35, 374.47, 386.48, 373.37, 380.26, 336.82, 311.08, 338.15, 336.75, 332.91, 320.17, 330.75, 335.09, 334.59, 326.15, 322.02, 326.93, 324.54, 323.05, 320.05, 328.21, 352.68, 358.04, 357.38, 371.29, 377.32, 362.49, 359.19, 361.05, 363.18, 388.95, 388.78, 395.54, 415.56, 417.56, 415.48, 451.94, 435.00, 433.76, 444.18, 465.32, 454.93, 456.08, 463.62, 462.32, 442.68, 438.64, 436.57, 442.40, 454.98, 455.65, 417.27, 422.82, 422.28, 432.98, 426.62, 430.57, 434.33, 433.44, 430.01, 433.09, 431.96, 429.11, 458.05, 453.23, 447.61, 447.99, 448.43, 435.69, 432.37, 430.31, 364.33, 387.54, 382.30, 387.17, 380.15, 420.23, 410.26, 382.49, 387.49, 402.97, 391.73, 392.15, 394.97, 380.29, 379.47, 378.26, 368.77.
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[Bitcoin Technical Analysis for 2016-01-31]
Volume: 37894300, RSI (14-day): 38.17, 50-day EMA: 401.87, 200-day EMA: 342.66
[Wider Market Context]
None available.
[Recent News (last 7 days)]
5 trades to watch after wild month: U.S. stocks rallied on Friday, capping a choppy, losing month for markets. With a cloudy outlook ahead, "Fast Money" traders outlined their best ideas moving forward. Major averages rose more than 2 percent each after the Bank of Japan adopted a negative interest rate policy. The promising day put an end to a rough month in which the S&P 500 (INDEX: .SPX) fell about 5 percent. Traders noted that the up-and-down sessions may continue. In the current environment, "you want to buy anything with a yield," said trader Brian Kelly. He believes the iShares 20+ Year Treasury Bond ETF (NYSE Arca: TLT) has room to climb if investors seek safer bets. Demand for the U.S. 10-year Treasury note (U.S.: US10Y) has already sent its yield 15 percent lower this year, and it lingered near 1.9 percent on Friday. Trader Dan Nathan also stressed that yield is crucial currently. He previously had long trades in Verizon (NYSE: VZ) and the Utilities Select Sector SPDR Fund (NYSE Arca: XLU) , which he sold after the prices of both rose this year. The Market Vectors Gold Miners ETF (NYSE Arca: GDX) has also beaten markets this year, rising 3.6 percent. In that period, the price of gold futures has climbed more than 5 percent. "Something's going on with gold miners to the upside," trader Guy Adami said. Trader Tim Seymour would sell emerging market stocks on strength. The iShares MSCI Emerging Markets ETF (NYSE Arca: EEM) rose more than 3 percent Friday, but Seymour sees "major structural problems" in emerging economies and said he would sell out of the fund. Disclosures: Tim Seymour Tim Seymour is long AAPL, BAC, DO, FCX, INTC, IWM, NKE, T, XOM. Tim's firm is long BABA, BIDU, IWM, PEP, SAVE, SBUX, VALE, WMT. Dan Nathan Dan is long WMT Feb put spread, long PFE buy-write, long TWTR, long TLT Apr risk reversal, long XLP put spread. Brian Kelly Brian Kelly is long BBRY, Bitcoin, GDX, GLD, SLV, TLT, US Dollar; he is short Aussie Dollar, British Pound, CS, DB, EWH, Hong Kong Dollar, UBS, SPY, Yuan. Story continues Guy Adami Guy Adami is long CELG, EXAS, GDX, INTC, Guy Adami's wife, Linda Snow, works at Merck. More From CNBC Top News and Analysis Latest News Video Personal Finance || 5 trades to watch after wild month: U.S. stocks rallied on Friday, capping a choppy, losing month for markets. With a cloudy outlook ahead, "Fast Money" traders outlined their best ideas moving forward.
Major averages rose more than 2 percent each after the Bank of Japan adopted a negative interest rate policy. The promising day put an end to a rough month in which the S&P 500(INDEX: .SPX)fell about 5 percent.
Traders noted that the up-and-down sessions may continue. In the current environment, "you want to buy anything with a yield," said trader Brian Kelly.
He believes the iShares 20+ Year Treasury Bond ETF(NYSE Arca: TLT)has room to climb if investors seek safer bets. Demand for the U.S. 10-year Treasury note(U.S.: US10Y)has already sent its yield 15 percent lower this year, and it lingered near 1.9 percent on Friday.
Trader Dan Nathan also stressed that yield is crucial currently. He previously had long trades in Verizon(NYSE: VZ)and the Utilities Select Sector SPDR Fund(NYSE Arca: XLU), which he sold after the prices of both rose this year.
The Market Vectors Gold Miners ETF(NYSE Arca: GDX)has also beaten markets this year, rising 3.6 percent. In that period, the price of gold futures has climbed more than 5 percent.
"Something's going on with gold miners to the upside," trader Guy Adami said.
Trader Tim Seymour would sell emerging market stocks on strength. The iShares MSCI Emerging Markets ETF(NYSE Arca: EEM)rose more than 3 percent Friday, but Seymour sees "major structural problems" in emerging economies and said he would sell out of the fund.
Disclosures:
Tim Seymour
Tim Seymour is long AAPL, BAC, DO, FCX, INTC, IWM, NKE, T, XOM. Tim's firm is long BABA, BIDU, IWM, PEP, SAVE, SBUX, VALE, WMT.
Dan Nathan
Dan is long WMT Feb put spread, long PFE buy-write, long TWTR, long TLT Apr risk reversal, long XLP put spread.
Brian Kelly
Brian Kelly is long BBRY, Bitcoin, GDX, GLD, SLV, TLT, US Dollar; he is short Aussie Dollar, British Pound, CS, DB, EWH, Hong Kong Dollar, UBS, SPY, Yuan.
Guy Adami
Guy Adami is long CELG, EXAS, GDX, INTC, Guy Adami's wife, Linda Snow, works at Merck.
More From CNBC
• Top News and Analysis
• Latest News Video
• Personal Finance || Surprising Gift Offered to Bitcoin Sellers at Coin Reverse Inc.: Coin Reverse Inc. Is Now Offering Engraved Bitcoin to Their Customers
NEW YORK, NY / ACCESSWIRE / January 29, 2016 /Coin Reverse Inc. (http://www.coinreverse.com) has hit the charts with their latest offer on Bitcoin purchase: they're not only offering 15% more than Blockchain's official rate for each Bitcoin they purchase, but they are also putting a surprise gift on transactions amounting 10+ BTC.
CoinReverse's marketing team has gone creative enough to attach a special gift to each and every transaction amounting more than 10 BTC: they are offering a 24-karat gold coin with the Bitcoin engraved on both sides. The mechanism is simple: each customer selling over 10 BTC within one transaction is asked to provide a mailing address and the company delivers the gift via a courier.
CoinReverse's Marketing Manager Jacob Gustavo is enthusiastic with their latest gift idea, while being positive that people involved in the cryptocurrency market are definitely welcoming a jewelry-like item engraved with the Bitcoin logo, being offered to them for doing business with CoinReverse.
"In this way, we are offering our customers a somehow materialized version of this virtual, non-material coin. We think it's pretty cool to put your hands on a coin carrying the Bitcoin's logo, especially if you're passionate about the cryptocurrencies," declares Jacob Gustavo, company's Marketing Manager.
Coin Reverse Inc. is a cryptocurrency trading company based in NewYork, USA, founded and developed by few bold investment professionals who have seen the business opportunity outside the traditional capital markets and have targeted cryptocurrency trade in terms of medium and long-term investments strategy.
Business is operated in an effective manner, with a user-friendly platform and easy contact means through the company's website and via e-mail, with 24/7 assistance through a Live Chat Section offered. Payments for the trade are free of any charges on the customer's side, while the company covers all the costs involved. The most common payment methods are available: PayPal and Bank Transfer.
All the details related to the company's offer and other information, together with the contact details of the Sales Team are available on their website:http://www.coinreverse.com.
No restrictions on customers' provenience and payment destination countries or currencies are in force within the company's policy.
For more information about us, please visithttp://coinreverse.com.
Contact Info:
Name: Tom JunoOrganization: Coin Reverse Inc.Address: 1370 Broadway, 5th FloorPhone: (315) 210-8349
SOURCE:Coin Reverse Inc. || Surprising Gift Offered to Bitcoin Sellers at Coin Reverse Inc.: Coin Reverse Inc. Is Now Offering Engraved Bitcoin to Their Customers NEW YORK, NY / ACCESSWIRE / January 29, 2016 / Coin Reverse Inc. ( http://www.coinreverse.com ) has hit the charts with their latest offer on Bitcoin purchase: they're not only offering 15% more than Blockchain's official rate for each Bitcoin they purchase, but they are also putting a surprise gift on transactions amounting 10+ BTC. CoinReverse's marketing team has gone creative enough to attach a special gift to each and every transaction amounting more than 10 BTC: they are offering a 24-karat gold coin with the Bitcoin engraved on both sides. The mechanism is simple: each customer selling over 10 BTC within one transaction is asked to provide a mailing address and the company delivers the gift via a courier. CoinReverse's Marketing Manager Jacob Gustavo is enthusiastic with their latest gift idea, while being positive that people involved in the cryptocurrency market are definitely welcoming a jewelry-like item engraved with the Bitcoin logo, being offered to them for doing business with CoinReverse. "In this way, we are offering our customers a somehow materialized version of this virtual, non-material coin. We think it's pretty cool to put your hands on a coin carrying the Bitcoin's logo, especially if you're passionate about the cryptocurrencies," declares Jacob Gustavo, company's Marketing Manager. Coin Reverse Inc. is a cryptocurrency trading company based in NewYork, USA, founded and developed by few bold investment professionals who have seen the business opportunity outside the traditional capital markets and have targeted cryptocurrency trade in terms of medium and long-term investments strategy. Business is operated in an effective manner, with a user-friendly platform and easy contact means through the company's website and via e-mail, with 24/7 assistance through a Live Chat Section offered. Payments for the trade are free of any charges on the customer's side, while the company covers all the costs involved. The most common payment methods are available: PayPal and Bank Transfer. Story continues All the details related to the company's offer and other information, together with the contact details of the Sales Team are available on their website: http://www.coinreverse.com . No restrictions on customers' provenience and payment destination countries or currencies are in force within the company's policy. For more information about us, please visit http://coinreverse.com . Contact Info: Name: Tom Juno Organization: Coin Reverse Inc. Address: 1370 Broadway, 5th Floor Phone: (315) 210-8349 SOURCE: Coin Reverse Inc. || Surprising Gift Offered to Bitcoin Sellers at Coin Reverse Inc.: Coin Reverse Inc. Is Now Offering Engraved Bitcoin to Their Customers
NEW YORK, NY / ACCESSWIRE / January 29, 2016 /Coin Reverse Inc. (http://www.coinreverse.com) has hit the charts with their latest offer on Bitcoin purchase: they're not only offering 15% more than Blockchain's official rate for each Bitcoin they purchase, but they are also putting a surprise gift on transactions amounting 10+ BTC.
CoinReverse's marketing team has gone creative enough to attach a special gift to each and every transaction amounting more than 10 BTC: they are offering a 24-karat gold coin with the Bitcoin engraved on both sides. The mechanism is simple: each customer selling over 10 BTC within one transaction is asked to provide a mailing address and the company delivers the gift via a courier.
CoinReverse's Marketing Manager Jacob Gustavo is enthusiastic with their latest gift idea, while being positive that people involved in the cryptocurrency market are definitely welcoming a jewelry-like item engraved with the Bitcoin logo, being offered to them for doing business with CoinReverse.
"In this way, we are offering our customers a somehow materialized version of this virtual, non-material coin. We think it's pretty cool to put your hands on a coin carrying the Bitcoin's logo, especially if you're passionate about the cryptocurrencies," declares Jacob Gustavo, company's Marketing Manager.
Coin Reverse Inc. is a cryptocurrency trading company based in NewYork, USA, founded and developed by few bold investment professionals who have seen the business opportunity outside the traditional capital markets and have targeted cryptocurrency trade in terms of medium and long-term investments strategy.
Business is operated in an effective manner, with a user-friendly platform and easy contact means through the company's website and via e-mail, with 24/7 assistance through a Live Chat Section offered. Payments for the trade are free of any charges on the customer's side, while the company covers all the costs involved. The most common payment methods are available: PayPal and Bank Transfer.
All the details related to the company's offer and other information, together with the contact details of the Sales Team are available on their website:http://www.coinreverse.com.
No restrictions on customers' provenience and payment destination countries or currencies are in force within the company's policy.
For more information about us, please visithttp://coinreverse.com.
Contact Info:
Name: Tom JunoOrganization: Coin Reverse Inc.Address: 1370 Broadway, 5th FloorPhone: (315) 210-8349
SOURCE:Coin Reverse Inc. || Sprott Out At Namesake Gold Fund As Price Collapse Takes Toll: With gold's decline, an entire precious metals industry is in peril. And Eric Sprott's just the canary in the gold mine. [This article first appeared on IndexUniverse.com and is republished here with permission.] For those of you who regularly read my stuff, you know I love to write about charts and numbers and all sorts of nerd-ery. In this blog, I'm only going to use a single chart. If you're a gold investor, you know which chart I'm talking about: Gold Prx since Fall 2011 Chart courtesy of StockCharts.com This is the nightmare chart for gold investors. The price of gold has collapsed from all-time highs of slightly more than $1,900 an ounce in fall of 2011 to near $1,235 today. Just this year, gold investors, a lot of them investing through ETFs like the SPDR Gold Trust ( GLD | A-100 ), are down almost 27 percent, while investors in the SPDR S&P 500 Trust ( SPY | A-98 ) are up 27 percent. You don't need to be a math whiz to recognize that this has been a terrible, terrible year for anyone who made a big rotation out of equities in the last few years and into the shiny stuff. And while it's easy to kick people when they are down, here's the thing: It's not just gold investors who got hammered. It's an entire industry that's been built on the back of the gold rally. Consider GLD all by itself for a moment. GLD's peak NAV in August last year was $184.59. On that day, there were 424 million shares outstanding, for net assets of more than $78 billion, with an implied annual fee due of $313 million a year. Today assets stand at just $33 billion—well under half their peak, with an implied fee base of $131 million a year. That's nearly $200 million that's leaving the GLD management ecosystem. I'm not expecting anyone to feel sorry for the poor ETF issuer here (State Street and the World Gold Council). Rather, I'm pointing out that decline in gold has made for some rather dramatic shifts in the investment economy. Consider Eric Sprott. I first came to know of Sprott when his Physical Gold Trust launched in 2010—right in the froth of the run-up—and it was being called an "ETF" by various media sources (it's not; it's a closed-end fund). At the time, I ripped it apart for tax issues, poor marketing and various other shortcomings. That's nothing to the savaging Sprott received at the hands of one of the smartest bloggers on the Web, Kid Dynamite. Kid Dynamite has made a kind of sport out of watching how Sprott's closed-end funds magically become un-closed and issue new shares when they trade to large premiums. Story continues Nothing wrong there, other than the fact that the big recipient of those nonpremium shares tended to be other Sprott funds, who could then sell them for the premium price . Nice work if you can get it. But while the various shenanigans may have worked on the way up, they've brutalized the company—and Eric Sprott—on the way down. Take their flagship closed-end gold fund, PHYS. It launched on Feb. 26, 2010. GLD investors are up 9.09 percent since then. PHYS investors are up 6.36 percent. I don't know how you leave 1 percent a year on the table when your only job is to buy gold and stick it in a vault, but there you have it. The good news (if you're actually in one of Sprott's many funds) is that Sprott himself has gotten the ax, as noted by the extraordinarily unkind headline at Business Insider this morning: " One Of The Most Famous Gold Bug Fund Managers Has Gotten Obliterated ." The Wall St. Journal article is a bit more professional—" Gold Drop Is Blow to Prominent Hedge-Fund Manager Sprott "—but makes hay out of the fact that his namesake hedge fund is down 50 percent in 2013. That takes work. In the end, Sprott's getting the boot, and being replaced by new management. There's a whole lot of that going on in gold circles: people getting the boot and making way for turnaround specialists to come in and clean up business. The gold miner industry is awash in panic: The bellwether ETF in the space, the Market Vectors Gold Miners fund ( GDX | A-54 ), is down 66.4 percent since gold's peak in 2011, and down 54.49 percent just in 2013. That collapse is driven by very real work being done in the gold miner space to deal with the collapsing gold prices. Anglo American, for instance, brought in a new CEO to help make huge cuts, effect write-downs and position the company for a longer-term business. In some sense, that's all healthier than bubble economics. But that's small solace to any investor who's actually ridden Anglo American, PHYS, GDX or GLD to the ground these past few years. Of course, the question any rational investor should ask is, What's next? And that's where it becomes very difficult to read the news. In most rational sectors of the global economy, analysts are analysts. You read the reports from agricultural experts or retail-stock experts, and they generally call things as they see them. In the precious metals space, nearly every article you get off any kind of Google search will always be telling you why "Now is the time!" It's important to remember that gold—and the entire gold investment economy—is unique. Gold, by itself, is useless and valueless. It has value only because it's scarce, and then only because enough people believe its scarcity can make it a useful medium of representing value and making transactions. Gold is, essentially, an idea that people assign value to. Lots of folks believe? It goes up. Crisis of faith? It tanks. Which makes it surprisingly similar to that other highly volatile source of questionable stored-value: Bitcoin. Maybe that's where Sprott's next adventure will take him. I'll be camped firmly on the sidelines with a bowl of popcorn. At the time this article was written, the author held no positions in the securities mentioned. Contact Dave Nadig at dnadig@indexuniverse.com . Recommended Stories Bearish Inventory Report Doesn’t Change Bullish Outlook For NatGas Record Silver Investing, Record Silver Mine Output In 2014 NatGas Tests Top End Of Price Range After Demand Soars Natural Gas Will Eventually Fall Below $3 Potential Takeover Targets In The Mining Sector Permalink | © Copyright 2016 ETF.com. All rights reserved View comments || Sprott Out At Namesake Gold Fund As Price Collapse Takes Toll: With gold's decline, an entire precious metals industry is in peril. And Eric Sprott's just the canary in the gold mine.
[This article first appeared onIndexUniverse.comand is republished here with permission.]
For those of you who regularly read my stuff, you know I love to write about charts and numbers and all sorts of nerd-ery. In this blog, I'm only going to use a single chart. If you're a gold investor, you know which chart I'm talking about:
Chart courtesy ofStockCharts.com
This is the nightmare chart for gold investors. The price of gold has collapsed from all-time highs of slightly more than $1,900 an ounce in fall of 2011 to near $1,235 today.
Just this year, gold investors, a lot of them investing through ETFs like the SPDR Gold Trust (GLD | A-100), are down almost 27 percent, while investors in the SPDR S&P 500 Trust (SPY | A-98) are up 27 percent. You don't need to be a math whiz to recognize that this has been a terrible, terrible year for anyone who made a big rotation out of equities in the last few years and into the shiny stuff.
And while it's easy to kick people when they are down, here's the thing: It's not just gold investors who got hammered. It's an entire industry that's been built on the back of the gold rally.
Consider GLD all by itself for a moment. GLD's peak NAV in August last year was $184.59. On that day, there were 424 million shares outstanding, for net assets of more than $78 billion, with an implied annual fee due of $313 million a year.
Today assets stand at just $33 billion—well under half their peak, with an implied fee base of $131 million a year. That's nearly $200 million that's leaving the GLD management ecosystem.
I'm not expecting anyone to feel sorry for the poor ETF issuer here (State Street and the World Gold Council). Rather, I'm pointing out that decline in gold has made for some rather dramatic shifts in the investment economy.
Consider Eric Sprott. I firstcame to knowof Sprott when his Physical Gold Trust launched in 2010—right in the froth of the run-up—and it was being called an "ETF" by various media sources (it's not; it's a closed-end fund). At the time, I ripped it apart for tax issues, poor marketing and various other shortcomings.
That's nothing to the savaging Sprott received at the hands of one of the smartest bloggers on the Web, Kid Dynamite. Kid Dynamite has made akind of sportout of watching how Sprott's closed-end funds magically become un-closed and issue new shares when they trade to large premiums.
Nothing wrong there, other than the fact that the big recipient of those nonpremium shares tended to be other Sprott funds,who could then sell them for the premium price. Nice work if you can get it.
But while the various shenanigans may have worked on the way up, they've brutalized the company—and Eric Sprott—on the way down. Take their flagship closed-end gold fund, PHYS. It launched on Feb. 26, 2010. GLD investors are up 9.09 percent since then. PHYS investors are up 6.36 percent. I don't knowhowyou leave 1 percent a year on the table when your only job is to buy gold and stick it in a vault, but there you have it.
The good news (if you're actually in one of Sprott's many funds) is that Sprott himself has gotten the ax, as noted by the extraordinarily unkind headline at Business Insider this morning: "One Of The Most Famous Gold Bug Fund Managers Has Gotten Obliterated." The Wall St. Journal article is a bit more professional—"Gold Drop Is Blow to Prominent Hedge-Fund Manager Sprott"—but makes hay out of the fact that his namesake hedge fund is down 50 percent in 2013. That takes work.
In the end, Sprott's getting the boot, and being replaced by new management.
There's a whole lot of that going on in gold circles: people getting the boot and making way for turnaround specialists to come in and clean up business. The gold miner industry is awash in panic: The bellwether ETF in the space, the Market Vectors Gold Miners fund (GDX | A-54), is down 66.4 percent since gold's peak in 2011, and down 54.49 percent just in 2013.
That collapse is driven by very real work being done in the gold miner space to deal with the collapsing gold prices. Anglo American, for instance, brought in a new CEO to help make huge cuts, effect write-downs and position the company for a longer-term business.
In some sense, that's all healthier than bubble economics. But that's small solace to any investor who's actually ridden Anglo American, PHYS, GDX or GLD to the ground these past few years.
Of course, the question any rational investor should ask is, What's next? And that's where it becomes very difficult to read the news. In most rational sectors of the global economy, analysts are analysts.
You read the reports from agricultural experts or retail-stock experts, and they generally call things as they see them. In the precious metals space, nearly every article you get off any kind of Google search will always be telling you why "Now is the time!"
It's important to remember that gold—and the entire gold investment economy—is unique. Gold, by itself, is useless and valueless. It has value only because it's scarce, and then only because enough people believe its scarcity can make it a useful medium of representing value and making transactions. Gold is, essentially, an idea that people assign value to. Lots of folks believe? It goes up. Crisis of faith? It tanks.
Which makes it surprisingly similar to that other highly volatile source of questionable stored-value: Bitcoin.
Maybe that's where Sprott's next adventure will take him. I'll be camped firmly on the sidelines with a bowl of popcorn.
At the time this article was written, the author held no positions in the securities mentioned. Contact Dave Nadig atdnadig@indexuniverse.com.
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• Potential Takeover Targets In The Mining Sector
Permalink| © Copyright 2016ETF.com.All rights reserved || First Bitcoin Capital Corp. Signs Evaluation Agreements with Emercoin International Development Group, To Develop and Market Solutions to Provide Distributed Blockchain Services For Business and Personal Use: VANCOUVER, BC / ACCESSWIRE / January, 28, 2016 /First BITCoin Capital Corp. (BITCF) announced today that it has signed an evaluation agreement with Emercoin International Development Group, a leader in solutions to provide distributed blockchain services for business and personal use. First BITCoin has signed certain evaluation agreements to promote Emercoin technology for wide spectrum of blockchain based technologies:
1. EMC/SSH- Secure shell management system needed by every site admin.
2. EMC/DNS- Uncensored domain name system, peering with OpenNIC.
3. EMC/LNX-- Decentralized pay-per-click advertising network.
4. EMC/SSL- System for password less authentication on the world wide web.
5. Info/Card- Storage for electronic business cards for use with EMCSSL.
6. EMC/TTS- Trusted storage for digital timestamps on the blockchain.
7. MAGNET - Distributed torrent tracker for internet file sharing.
8. EMC/DPO- Digital proof of ownership solution for physical or digital goods and services.
First BITCoin is also evaluating investing in Emercoin to support Emercoin's market expansion and acceptance worldwide.
Oleg Khovayko, Emercoin Lead Developer, said, "Key difference in Emercoin from other cryptocurrencies is that we are using blockchain not just for transfer credit values. We consider Emercoin as a technological platform for distributed, censorship–proof and scalable services. So we developed a suite of services running on top of the Emercoin blockchain that will be very useful for a lot of companies and even private persons."
In addition, our goal is provide stable, robust and easy to integrate services. Hence, our solutions are compatible with industry standards, proven their efficient and security.
"We are excited to have the opportunity to evaluate and possibly invest in EMERCOIN , especially due to their recent partnership with Microsoft Corporation (NASDAQ:MSFT) to deliver their blockchain services to the Azure cloud's Blockchain-as-a-Service marketplace, also known as BaaS Platform," the Company spokesperson said. "We are always looking for disrupting, new and promising technologies, and are ready to invest in those companies to help them to market their technology worldwide."
About EMERCOIN Group
EmerCoin (EMC) is a decentralized, open-source cryptocurrency created in late 2013 and based on technologies from Bitcoin, Namecoin and Peercoin. It utilizes both Proof-of-Work and Proof-of-Stake mining. Emercoin, a leading digital currency and blockchain platform has just partnered with Microsoft to become a member of the Azure marketplace. With demand growing for innovative, scalable blockchain services that are ready to implement, Emercoin is a natural fit for the Azure cloud platform. They have developed a robust suite of ready-to-use features that offer real world solutions for business and consumer use.
Emercoin will be delivering their suite of blockchain services into the Azure cloud later this year. This will give Azure cloud users the ability to install and make use of Emercoin's many services such as digital proof of ownership and identity, passwordless authentication on the internet, network security, the first distributed advertising network and many E-commerce solutions like the Emercoin secure micropayment service.
For more information please visitwww.Emercoin.com.
About First BITCoin Capital Corp.
First Bitcoin Capital Corp. is a development-stage Canadian-based mining company currently holding concessions of Gold in Venezuela and is developing technology for the crypto-currency industry. It is the first vertically-integrated consolidation company of the Bitcoin and crypto-currency marketplace.
The Company is developing the following digital assets
www.CoinQX.com- online cryptocurrency Exchange.
www.BITessentials.com- online shopping mall (in Beta testing) allowing multiple vendors to place their products ans sell for cryptocurrency. Company has partnered with GoCoin , A global leader in Blockchain payments and innovation, GoCoin was the first international platform for enabling merchants to Blockchain currency payments including Bitcoin and popular altcoins Litecoin, Dogecoin and Tether at checkout.
www.iCOINews.com - Real time crypto currency news aggregator platform.
www.BITminer.cc- Mining and equipment sales for cryptocurrency miners.
The Company currently develops other innovative projects.
SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS:
This press release includes various "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which represent the Company's expectations or beliefs concerning future events. Statements containing expressions such as "believes," "plans," "anticipates," "intends," or "expects," or similar expressions or statements regarding intent, belief of current expectations used in the Company's press releases and in Disclosure Statements and Reports filed with the Over the Counter Markets through the OTC Disclosure and News Service are intended to identify forward-looking statements. All forward-looking statements involve risks and uncertainties. Although the Company believes its expectations are based upon reasonable assumptions within the bounds of its knowledge of its business and operations, there can be no assurances that actual results will not differ materially from expected results. The Company cautions that these and similar statements included in this report are further qualified by important factors that could cause actual results to differ materially from those in the forward-looking statements. Investors are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date thereof.
Contacts:
info@bitcoincapitalcorp.combitcoincapitalcorp.com
SOURCE:First Bitcoin Capital Corp. || First Bitcoin Capital Corp. Signs Evaluation Agreements with Emercoin International Development Group, To Develop and Market Solutions to Provide Distributed Blockchain Services For Business and Personal Use: VANCOUVER, BC / ACCESSWIRE / January, 28, 2016 /First BITCoin Capital Corp. (BITCF) announced today that it has signed an evaluation agreement with Emercoin International Development Group, a leader in solutions to provide distributed blockchain services for business and personal use. First BITCoin has signed certain evaluation agreements to promote Emercoin technology for wide spectrum of blockchain based technologies:
1. EMC/SSH- Secure shell management system needed by every site admin.
2. EMC/DNS- Uncensored domain name system, peering with OpenNIC.
3. EMC/LNX-- Decentralized pay-per-click advertising network.
4. EMC/SSL- System for password less authentication on the world wide web.
5. Info/Card- Storage for electronic business cards for use with EMCSSL.
6. EMC/TTS- Trusted storage for digital timestamps on the blockchain.
7. MAGNET - Distributed torrent tracker for internet file sharing.
8. EMC/DPO- Digital proof of ownership solution for physical or digital goods and services.
First BITCoin is also evaluating investing in Emercoin to support Emercoin's market expansion and acceptance worldwide.
Oleg Khovayko, Emercoin Lead Developer, said, "Key difference in Emercoin from other cryptocurrencies is that we are using blockchain not just for transfer credit values. We consider Emercoin as a technological platform for distributed, censorship–proof and scalable services. So we developed a suite of services running on top of the Emercoin blockchain that will be very useful for a lot of companies and even private persons."
In addition, our goal is provide stable, robust and easy to integrate services. Hence, our solutions are compatible with industry standards, proven their efficient and security.
"We are excited to have the opportunity to evaluate and possibly invest in EMERCOIN , especially due to their recent partnership with Microsoft Corporation (NASDAQ:MSFT) to deliver their blockchain services to the Azure cloud's Blockchain-as-a-Service marketplace, also known as BaaS Platform," the Company spokesperson said. "We are always looking for disrupting, new and promising technologies, and are ready to invest in those companies to help them to market their technology worldwide."
About EMERCOIN Group
EmerCoin (EMC) is a decentralized, open-source cryptocurrency created in late 2013 and based on technologies from Bitcoin, Namecoin and Peercoin. It utilizes both Proof-of-Work and Proof-of-Stake mining. Emercoin, a leading digital currency and blockchain platform has just partnered with Microsoft to become a member of the Azure marketplace. With demand growing for innovative, scalable blockchain services that are ready to implement, Emercoin is a natural fit for the Azure cloud platform. They have developed a robust suite of ready-to-use features that offer real world solutions for business and consumer use.
Emercoin will be delivering their suite of blockchain services into the Azure cloud later this year. This will give Azure cloud users the ability to install and make use of Emercoin's many services such as digital proof of ownership and identity, passwordless authentication on the internet, network security, the first distributed advertising network and many E-commerce solutions like the Emercoin secure micropayment service.
For more information please visitwww.Emercoin.com.
About First BITCoin Capital Corp.
First Bitcoin Capital Corp. is a development-stage Canadian-based mining company currently holding concessions of Gold in Venezuela and is developing technology for the crypto-currency industry. It is the first vertically-integrated consolidation company of the Bitcoin and crypto-currency marketplace.
The Company is developing the following digital assets
www.CoinQX.com- online cryptocurrency Exchange.
www.BITessentials.com- online shopping mall (in Beta testing) allowing multiple vendors to place their products ans sell for cryptocurrency. Company has partnered with GoCoin , A global leader in Blockchain payments and innovation, GoCoin was the first international platform for enabling merchants to Blockchain currency payments including Bitcoin and popular altcoins Litecoin, Dogecoin and Tether at checkout.
www.iCOINews.com - Real time crypto currency news aggregator platform.
www.BITminer.cc- Mining and equipment sales for cryptocurrency miners.
The Company currently develops other innovative projects.
SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS:
This press release includes various "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which represent the Company's expectations or beliefs concerning future events. Statements containing expressions such as "believes," "plans," "anticipates," "intends," or "expects," or similar expressions or statements regarding intent, belief of current expectations used in the Company's press releases and in Disclosure Statements and Reports filed with the Over the Counter Markets through the OTC Disclosure and News Service are intended to identify forward-looking statements. All forward-looking statements involve risks and uncertainties. Although the Company believes its expectations are based upon reasonable assumptions within the bounds of its knowledge of its business and operations, there can be no assurances that actual results will not differ materially from expected results. The Company cautions that these and similar statements included in this report are further qualified by important factors that could cause actual results to differ materially from those in the forward-looking statements. Investors are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date thereof.
Contacts:
info@bitcoincapitalcorp.combitcoincapitalcorp.com
SOURCE:First Bitcoin Capital Corp. || First Bitcoin Capital Corp. Signs Evaluation Agreements with Emercoin International Development Group, To Develop and Market Solutions to Provide Distributed Blockchain Services For Business and Personal Use: VANCOUVER, BC / ACCESSWIRE / January, 28, 2016 / First BITCoin Capital Corp. ( BITCF ) announced today that it has signed an evaluation agreement with Emercoin International Development Group, a leader in solutions to provide distributed blockchain services for business and personal use. First BITCoin has signed certain evaluation agreements to promote Emercoin technology for wide spectrum of blockchain based technologies: 1. EMC/ SSH - Secure shell management system needed by every site admin. 2. EMC/ DNS - Uncensored domain name system, peering with OpenNIC. 3. EMC/ LNX- - Decentralized pay-per-click advertising network. 4. EMC/ SSL - System for password less authentication on the world wide web. 5. Info/ Card - Storage for electronic business cards for use with EMCSSL. 6. EMC /TTS - Trusted storage for digital timestamps on the blockchain. 7. MAGNET - Distributed torrent tracker for internet file sharing. 8. EMC/ DPO - Digital proof of ownership solution for physical or digital goods and services. First BITCoin is also evaluating investing in Emercoin to support Emercoin's market expansion and acceptance worldwide. Oleg Khovayko, Emercoin Lead Developer, said, "Key difference in Emercoin from other cryptocurrencies is that we are using blockchain not just for transfer credit values. We consider Emercoin as a technological platform for distributed, censorship–proof and scalable services. So we developed a suite of services running on top of the Emercoin blockchain that will be very useful for a lot of companies and even private persons." In addition, our goal is provide stable, robust and easy to integrate services. Hence, our solutions are compatible with industry standards, proven their efficient and security. "We are excited to have the opportunity to evaluate and possibly invest in EMERCOIN , especially due to their recent partnership with Microsoft Corporation (NASDAQ:MSFT) to deliver their blockchain services to the Azure cloud's Blockchain-as-a-Service marketplace, also known as BaaS Platform," the Company spokesperson said. "We are always looking for disrupting, new and promising technologies, and are ready to invest in those companies to help them to market their technology worldwide." Story continues About EMERCOIN Group EmerCoin (EMC) is a decentralized, open-source cryptocurrency created in late 2013 and based on technologies from Bitcoin, Namecoin and Peercoin. It utilizes both Proof-of-Work and Proof-of-Stake mining. Emercoin, a leading digital currency and blockchain platform has just partnered with Microsoft to become a member of the Azure marketplace. With demand growing for innovative, scalable blockchain services that are ready to implement, Emercoin is a natural fit for the Azure cloud platform. They have developed a robust suite of ready-to-use features that offer real world solutions for business and consumer use. Emercoin will be delivering their suite of blockchain services into the Azure cloud later this year. This will give Azure cloud users the ability to install and make use of Emercoin's many services such as digital proof of ownership and identity, passwordless authentication on the internet, network security, the first distributed advertising network and many E-commerce solutions like the Emercoin secure micropayment service. For more information please visit www.Emercoin.com . About First BITCoin Capital Corp. First Bitcoin Capital Corp. is a development-stage Canadian-based mining company currently holding concessions of Gold in Venezuela and is developing technology for the crypto-currency industry. It is the first vertically-integrated consolidation company of the Bitcoin and crypto-currency marketplace. The Company is developing the following digital assets www.CoinQX.com - online cryptocurrency Exchange. www.BITessentials.com - online shopping mall (in Beta testing) allowing multiple vendors to place their products ans sell for cryptocurrency. Company has partnered with GoCoin , A global leader in Blockchain payments and innovation, GoCoin was the first international platform for enabling merchants to Blockchain currency payments including Bitcoin and popular altcoins Litecoin, Dogecoin and Tether at checkout. www.iCOINews.com - Real time crypto currency news aggregator platform. www.BITminer.cc - Mining and equipment sales for cryptocurrency miners. The Company currently develops other innovative projects. SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS: This press release includes various "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which represent the Company's expectations or beliefs concerning future events. Statements containing expressions such as "believes," "plans," "anticipates," "intends," or "expects," or similar expressions or statements regarding intent, belief of current expectations used in the Company's press releases and in Disclosure Statements and Reports filed with the Over the Counter Markets through the OTC Disclosure and News Service are intended to identify forward-looking statements. All forward-looking statements involve risks and uncertainties. Although the Company believes its expectations are based upon reasonable assumptions within the bounds of its knowledge of its business and operations, there can be no assurances that actual results will not differ materially from expected results. The Company cautions that these and similar statements included in this report are further qualified by important factors that could cause actual results to differ materially from those in the forward-looking statements. Investors are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date thereof. Contacts: info@bitcoincapitalcorp.com bitcoincapitalcorp.com SOURCE: First Bitcoin Capital Corp. || Blockchain Gets A Much-Needed Stamp Of Approval: Finance firmGoldman Sachs Group Inc(NYSE:GS) has become a pillar of the financial sector with traders looking to the bank's advice for everything from investing to saving. For that reason, Goldman Sachs Director Don Duet'spositive remarksregarding blockchain could be a catalyst for the technology's success.
Blockchain Potential
Bitcoin has had a rough ride over the past year, as many of the coin's users suffered losses due to volatile prices and exchange collapses.
However, the technology that bitcoin runs on – a ledger-like system called blockchain – has been gaining momentum. This is especially true in the financial sector, where banks say blockchain could improve their operations and make things like cross-border payments more streamlined.
Related Link:Blockchain Moves Forward In The Financial Industry
Using Blockchain
Earlier this month, Duet commented on blockchain, saying that he sees the technology as both exciting and groundbreaking. He said blockchain systems have the potential to revolutionize banking operations and the technology could help banks share information and conduct asset transfers more easily and securely.
A Single Truth
Duet said blockchain provides banks with a "single truth," meaning that it creates one constant system that all banks can use. One of the problems with the banking sector as it currently stands, he said, is that every bank is operating with different systems and protocols.
Because of this, banks have to spend a lot of time reconciling differences in order to conduct transactions. However, using blockchain could change all of that by providing banks with one single ledger updated with each transaction.
A Bright Future
While Duet's comments were general in nature, many saw his optimism regarding blockchain as a positive sign for the future. Banks like Goldman Sachs,Morgan Stanley(NYSE:MS) andCitigroup Inc(NYSE:C) have been exploring how blockchain might fit into their operations in recent months, and Duet's remarks suggest the outlook is promising.
See more from Benzinga
• Can Bank Stocks Recover?
• Banks' Earnings Tell A Tale Of Cost Cutting
• Is Bank Of America Ripe For A Turnaround?
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Blockchain Gets A Much-Needed Stamp Of Approval: Finance firm Goldman Sachs Group Inc (NYSE: GS ) has become a pillar of the financial sector with traders looking to the bank's advice for everything from investing to saving. For that reason, Goldman Sachs Director Don Duet's positive remarks regarding blockchain could be a catalyst for the technology's success. Blockchain Potential Bitcoin has had a rough ride over the past year, as many of the coin's users suffered losses due to volatile prices and exchange collapses. However, the technology that bitcoin runs on – a ledger-like system called blockchain – has been gaining momentum. This is especially true in the financial sector, where banks say blockchain could improve their operations and make things like cross-border payments more streamlined. Related Link: Blockchain Moves Forward In The Financial Industry Using Blockchain Earlier this month, Duet commented on blockchain, saying that he sees the technology as both exciting and groundbreaking. He said blockchain systems have the potential to revolutionize banking operations and the technology could help banks share information and conduct asset transfers more easily and securely. A Single Truth Duet said blockchain provides banks with a "single truth," meaning that it creates one constant system that all banks can use. One of the problems with the banking sector as it currently stands, he said, is that every bank is operating with different systems and protocols. Because of this, banks have to spend a lot of time reconciling differences in order to conduct transactions. However, using blockchain could change all of that by providing banks with one single ledger updated with each transaction. A Bright Future While Duet's comments were general in nature, many saw his optimism regarding blockchain as a positive sign for the future. Banks like Goldman Sachs, Morgan Stanley (NYSE: MS ) and Citigroup Inc (NYSE: C ) have been exploring how blockchain might fit into their operations in recent months, and Duet's remarks suggest the outlook is promising. See more from Benzinga Can Bank Stocks Recover? Banks' Earnings Tell A Tale Of Cost Cutting Is Bank Of America Ripe For A Turnaround? © 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. View comments || Bank of America is going big on blockchain: Bank of America(NYSE: BAC)is trying to steal a march on the latest developments in the technology behind digital currency bitcoin(: BTC=)by loading up on blockchain-related patents.
Blockchain works like a huge, decentralized ledger for the digital currency bitcoin which records every transaction and stores this information on a global network so it cannot be tampered with.
Major financial institutions -- including theBank of England-- have released a number of notes over the last year on the potential of the technology and have created teams within their organizations to look into how to develop the cryptocurrency.
But Bank of America is going one step further by attempting to patent some of the use cases of the technology. The company has already filed for 15 blockchain-related patents and is currently in the process of drafting another 20 to be submitted to the U.S. Patents and Trademark Office (USPTO) later this month, a spokesperson told CNBC on Wednesday.
"Blockchain's very intriguing and for us it's a balance between not wanting to be Neanderthal but not wanting to put something out in a commercial application where the commercial application is still very unclear as a technologist, the technology is fascinating," Catherine Bessant, the chief operations and technology office at Bank of America, said during a CNBC event at Davos last week.
"And we have tried to stay on the forefront, I think we have somewhere around 15 patents, most people would be surprised at Bank of America with patents in the blockchain or cryptocurrency space. (It's) very important in the intellectual property world to reserve our spot even before we know what the commercial application might be."
In December, the United States Patent and Trademark Office (USPTO) published 10 of Bank of America's applications. The USPTO publishes patent applications 18 months after they're filed. But the latest information shows that the number of patents Bank of America has filed for and is looking to apply for is much higher.
Bank of America patents published by the USPTO showed proposals for a "cryptocurrency risk detection system" and "suspicious user alert system" among others. These patents have not yet been granted.
The technology might be some years off before becoming mainstream for banks, but institutions are taking a collaborative approach to the technology, working with start-ups and even rival lenders. A consortium of more than 25 banks, led by fintech (financial technology) company R3, is currentlydeveloping a frameworkfor applying blockchain technology to markets.
Last year, Goldman Sachs released a note that saidblockchain could "change everything"while banks from Barclays to UBS explained how the technology could be used in areas from remittances to drawing up contracts.
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• Personal Finance || Bank of America is going big on blockchain: Bank of America (NYSE: BAC) is trying to steal a march on the latest developments in the technology behind digital currency bitcoin (: BTC=) by loading up on blockchain-related patents. Blockchain works like a huge, decentralized ledger for the digital currency bitcoin which records every transaction and stores this information on a global network so it cannot be tampered with. Major financial institutions -- including the Bank of England -- have released a number of notes over the last year on the potential of the technology and have created teams within their organizations to look into how to develop the cryptocurrency. But Bank of America is going one step further by attempting to patent some of the use cases of the technology. The company has already filed for 15 blockchain-related patents and is currently in the process of drafting another 20 to be submitted to the U.S. Patents and Trademark Office (USPTO) later this month, a spokesperson told CNBC on Wednesday. "Blockchain's very intriguing and for us it's a balance between not wanting to be Neanderthal but not wanting to put something out in a commercial application where the commercial application is still very unclear as a technologist, the technology is fascinating," Catherine Bessant, the chief operations and technology office at Bank of America, said during a CNBC event at Davos last week. "And we have tried to stay on the forefront, I think we have somewhere around 15 patents, most people would be surprised at Bank of America with patents in the blockchain or cryptocurrency space. (It's) very important in the intellectual property world to reserve our spot even before we know what the commercial application might be." In December, the United States Patent and Trademark Office (USPTO) published 10 of Bank of America's applications. The USPTO publishes patent applications 18 months after they're filed. But the latest information shows that the number of patents Bank of America has filed for and is looking to apply for is much higher. Story continues Bank of America patents published by the USPTO showed proposals for a "cryptocurrency risk detection system" and "suspicious user alert system" among others. These patents have not yet been granted. The technology might be some years off before becoming mainstream for banks, but institutions are taking a collaborative approach to the technology, working with start-ups and even rival lenders. A consortium of more than 25 banks, led by fintech (financial technology) company R3, is currently developing a framework for applying blockchain technology to markets. Last year, Goldman Sachs released a note that said blockchain could "change everything" while banks from Barclays to UBS explained how the technology could be used in areas from remittances to drawing up contracts. More From CNBC Top News and Analysis Latest News Video Personal Finance || New Ways To Trade China, Crude Oil And The Fed: You’re reading the news about China and oil . The Fed will be talking about that news and much more and making news of its own. Some traders will find ways to profit. But will you trade the news you read? Or does the cost and risk keep you on the sidelines? George Soros got a shout-out Tuesday from no less than China’s People’s Daily, considered the official paper of China’s Communist Party. China sent a rare personal warning to the man who once “broke the Bank of England” by shorting the pound and making a billion in a day, not to try short-selling the yuan. The opinion piece by a commerce ministry researcher was quite specific: “Soros's war on the renminbi and the Hong Kong dollar cannot possibly succeed...” You may agree or disagree with what Soros said in Davos about a hard landing for the yuan and Chinese stocks. You may have an opinion about where Chinese stocks are headed next. But does that mean you can turn that opinion into a trade? You might speculate on how China’s problems might affect your Apple stock. You might even try a China-based ETF, but you’d still be dependent on the skill of the fund’s manager and other factors. How to directly trade the price of a Chinese stock index yourself? Oil is another fun topic to have opinions about. I’ve heard guys talk for 10 minutes about which gas station has the cheapest price that week. Even Bloomberg Businessweek did some of that, reporting that gas is now cheaper in Houston than in Dubai for the first time since 2008. Dennis Gartman, whose “Gartman Letter” many read and some even agree with, recently said oil would not go above $44 a barrel “in his lifetime.” Mr. Gartman is in great health, so this is a long-term forecast. Some of you almost certainly disagree. Last year I made a cocky prediction on oil when it was around $70 a barrel, that it would be under $45 by August. The cocky part was that I made it to a friend who worked for Koch Industries and knew petroleum up close and personal. When I was proven right, I gloated for a few minutes, but not much. Because I didn’t trade that prediction. I’ve traded for 18 years, but I took a pass on crude even when I was confident. Trading crude futures or even options was more risk than I wanted to take on just then. Story continues FOMC meeting week is usually a time for wide-ranging discussions. While the Fed is talking, so is everyone else, it seems. And when the Fed is done, they often move many markets and the US and other economies with their opinions. Stock markets will have short-term reactions and counter-reactions. Currencies may fluctuate and so can commodities, which are priced in dollars. Traders on all these markets stand to profit. Soros has an opinion, Gartman has an opinion, the FOMC has a dozen opinions. The rest of us have valid opinions of our own, but few ways to turn those opinions into opportunities to profit. Too much capital required or too much risk involved. The Nadex binary options exchange offers a secure, CFTC-regulated, affordable new way to trade not just crude oil, but even more exotic (to US traders) markets like the China A50 stock index of China’s 50 biggest companies. Exchange-traded binary options from Nadex offer guaranteed limited risk, low fees, and thousands of contracts traded daily with great liquidity thanks to the exploding growth in the popularity. Last year, a special report in Bloomberg Businessweek called Nadex binary options “The Future of Trading” because they address the problems of cost and risk. You can start with a minimum balance of just $100, the fees are 90 cents a side or less, and you always know your maximum possible loss before you enter the trade. No worrying about stop-losses or unlimited risk. That means you, too, can trade your opinions on China’s markets. You probably won’t get called out by the People’s Daily, either. And next time you’re talking gas prices, you could pull up the Nadex app on your phone and trade crude oil for less than $100 of risk. And of course, you can trade the most popular global stock indexes, commodities, and forex pairs—all from one screen and one account. Nadex even has binaries on Bitcoin (without having to own bitcoins). And if you have an opinion on whether the Fed will raise rates this week or not, Nadex has a binary option for that. Regulated by the CFTC, with your money held in US banks, Nadex offers an innovative new way for the rest of us to find profit opportunities in all parts of the world’s markets (well, except cannabis). This information has been prepared by Nadex, a trading name of North American Derivatives Exchange, Inc., prepared by independent third parties contracted by Nadex or reproduced form third party news agencies. In addition to the disclaimer below, the material on this page does not contain an offer of, or solicitation for, a transaction in any financial instrument. Nadex accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. See more from Benzinga Here's How The Rate Hike Will Affect Oil And Inflation © 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || New Ways To Trade China, Crude Oil And The Fed: You’re reading the newsabout China and oil. The Fed will be talking about that news and much more and making news of its own. Some traders will find ways to profit. But will you trade the news you read? Or does the cost and risk keep you on the sidelines?
George Soros got a shout-out Tuesday from no less than China’s People’s Daily, considered the official paper of China’s Communist Party. China sent a rare personal warning to the man who once “broke the Bank of England” by shorting the pound and making a billion in a day, not to try short-selling the yuan. The opinion piece by a commerce ministry researcher was quite specific: “Soros's war on the renminbi and the Hong Kong dollar cannot possibly succeed...”
You may agree or disagree with what Soros said in Davos about a hard landing for the yuan and Chinese stocks. You may have an opinion about where Chinese stocks are headed next. But does that mean you can turn that opinion into a trade? You might speculate on how China’s problems might affect your Apple stock. You might even try a China-based ETF, but you’d still be dependent on the skill of the fund’s manager and other factors. How to directly trade the price of a Chinese stock index yourself?
Oil is another fun topic to have opinions about. I’ve heard guys talk for 10 minutes about which gas station has the cheapest price that week. Even Bloomberg Businessweek did some of that, reporting that gas is now cheaper in Houston than in Dubai for the first time since 2008.
Dennis Gartman, whose “Gartman Letter” many read and some even agree with, recently said oil would not go above $44 a barrel “in his lifetime.” Mr. Gartman is in great health, so this is a long-term forecast. Some of you almost certainly disagree.
Last year I made a cocky prediction on oil when it was around $70 a barrel, that it would be under $45 by August. The cocky part was that I made it to a friend who worked for Koch Industries and knew petroleum up close and personal. When I was proven right, I gloated for a few minutes, but not much. Because I didn’t trade that prediction. I’ve traded for 18 years, but I took a pass on crude even when I was confident. Trading crude futures or even options was more risk than I wanted to take on just then.
FOMC meeting week is usually a time for wide-ranging discussions. While the Fed is talking, so is everyone else, it seems. And when the Fed is done, they often move many markets and the US and other economies with their opinions. Stock markets will have short-term reactions and counter-reactions. Currencies may fluctuate and so can commodities, which are priced in dollars. Traders on all these markets stand to profit.
Soros has an opinion, Gartman has an opinion, the FOMC has a dozen opinions. The rest of us have valid opinions of our own, but few ways to turn those opinions into opportunities to profit. Too much capital required or too much risk involved.
The Nadex binary options exchange offers a secure, CFTC-regulated, affordable new way to trade not just crude oil, but even more exotic (to US traders) markets like the China A50 stock index of China’s 50 biggest companies. Exchange-traded binary options from Nadex offer guaranteed limited risk, low fees, and thousands of contracts traded daily with great liquidity thanks to the exploding growth in the popularity.
Last year, a special report in Bloomberg Businessweek called Nadex binary options “The Future of Trading” because they address the problems of cost and risk. You can start with a minimum balance of just $100, the fees are 90 cents a side or less, and you always know your maximum possible loss before you enter the trade. No worrying about stop-losses or unlimited risk.
That means you, too, can trade your opinions on China’s markets. You probably won’t get called out by the People’s Daily, either. And next time you’re talking gas prices, you could pull up the Nadex app on your phone and trade crude oil for less than $100 of risk.
And of course, you can trade the most popular global stock indexes, commodities, and forex pairs—all from one screen and one account. Nadex even has binaries on Bitcoin (without having to own bitcoins).
And if you have an opinion on whether the Fed will raise rates this week or not, Nadex has a binary option for that. Regulated by the CFTC, with your money held in US banks, Nadex offers an innovative new way for the rest of us to find profit opportunities in all parts of the world’s markets (well, except cannabis).
This information has been prepared by Nadex, a trading name of North American Derivatives Exchange, Inc., prepared by independent third parties contracted by Nadex or reproduced form third party news agencies. In addition to the disclaimer below, the material on this page does not contain an offer of, or solicitation for, a transaction in any financial instrument. Nadex accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication.
See more from Benzinga
• Here's How The Rate Hike Will Affect Oil And Inflation
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || New Study Shows Bitcoin Still Has A Long Way To Go: Bitcoin has gained notoriety quickly over the past few years, as more people become familiar with cryptocurrencies. While the majority of the public is still skeptical regarding the safety and security of the currency, bitcoin's user base has been growing. However, although bitcoin enthusiasts say the payment system has made major gains over the past few years, a new study shows the cryptocurrency is still widely misunderstood, even by those who use it. Limited Understanding A peer-reviewed study conducted by Janne Lindqvist of Rutgers Wireless Information Network Laboratory showed both users and non-users of the cryptocurrency have only a basic understanding of how bitcoin works and how safe it is to use. Related Link: Interest In Bitcoin Mining Returns For those who have yet to try bitcoin, the study indicated they worried about adopting the currency and saw setting up an account as too difficult. Users Misinformed Surprisingly, the study also showed that many of those who use bitcoin regularly also found the system difficult to understand. Not only were bitcoin users misinformed about the level of security bitcoin transactions provide, but they also struggled to wrap their minds around how bitcoin transactions are carried out. Government Backing Important Another factor from the study that garners attention was that both users and non-users were keen for further government intervention for Bitcoin. While users typically expressed anti-government views and said less regulation was important to them, they still said that backing from the government would make the bitcoin system more secure. Image Credit: Public Domain See more from Benzinga Under Armour's Partnership With IBM Could Revive Both Brands Can Bank Stocks Recover? A New Way To Advertise © 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. View comments || New Study Shows Bitcoin Still Has A Long Way To Go: Bitcoin has gained notoriety quickly over the past few years, as more people become familiar with cryptocurrencies. While the majority of the public is still skeptical regarding the safety and security of the currency, bitcoin's user base has been growing. However, although bitcoin enthusiasts say the payment system has made major gains over the past few years, a new study shows the cryptocurrency is still widely misunderstood, even by those who use it. Limited Understanding A peer-reviewed study conducted by Janne Lindqvist of Rutgers Wireless Information Network Laboratory showed both users and non-users of the cryptocurrency have only a basic understanding of how bitcoin works and how safe it is to use. Related Link: Interest In Bitcoin Mining Returns For those who have yet to try bitcoin, the study indicated they worried about adopting the currency and saw setting up an account as too difficult. Users Misinformed Surprisingly, the study also showed that many of those who use bitcoin regularly also found the system difficult to understand. Not only were bitcoin users misinformed about the level of security bitcoin transactions provide, but they also struggled to wrap their minds around how bitcoin transactions are carried out. Government Backing Important Another factor from the study that garners attention was that both users and non-users were keen for further government intervention for Bitcoin. While users typically expressed anti-government views and said less regulation was important to them, they still said that backing from the government would make the bitcoin system more secure. Image Credit: Public Domain See more from Benzinga Under Armour's Partnership With IBM Could Revive Both Brands Can Bank Stocks Recover? A New Way To Advertise © 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. View comments || New Study Shows Bitcoin Still Has A Long Way To Go: Bitcoin has gained notoriety quickly over the past few years, as more people become familiar with cryptocurrencies. While the majority of the public is still skeptical regarding the safety and security of the currency, bitcoin's user base has been growing. However, although bitcoin enthusiasts say the payment system has made major gains over the past few years, a new study shows the cryptocurrency is still widely misunderstood, even by those who use it. Limited Understanding A peer-reviewed study conducted by Janne Lindqvist of Rutgers Wireless Information Network Laboratory showed both users and non-users of the cryptocurrency have only a basic understanding of how bitcoin works and how safe it is to use. Related Link: Interest In Bitcoin Mining Returns For those who have yet to try bitcoin, the study indicated they worried about adopting the currency and saw setting up an account as too difficult. Users Misinformed Surprisingly, the study also showed that many of those who use bitcoin regularly also found the system difficult to understand. Not only were bitcoin users misinformed about the level of security bitcoin transactions provide, but they also struggled to wrap their minds around how bitcoin transactions are carried out. Government Backing Important Another factor from the study that garners attention was that both users and non-users were keen for further government intervention for Bitcoin. While users typically expressed anti-government views and said less regulation was important to them, they still said that backing from the government would make the bitcoin system more secure. Image Credit: Public Domain See more from Benzinga Under Armour's Partnership With IBM Could Revive Both Brands Can Bank Stocks Recover? A New Way To Advertise © 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. View comments || C&W Networks Selects Xtera for Upgrading Its Multiple Submarine Cable Systems to 100G Technology: MIAMI, FL and DALLAS, TX--(Marketwired - Jan 26, 2016) -C&W Networks, part ofCable & Wireless Communications(CWC), the largest telecommunications service provider across the Caribbean, Central America, Mexico and United States with more than 48,000 miles of subsea fiber-optic network has selectedXtera Communications, Inc. (NASDAQ:XCOM), a leading provider of high-capacity, cost-effective optical transport solutions, for upgrading its submarine cable systems in the western Atlantic ocean and the Caribbean Sea to 100G. By introducing Xtera's 100G coherent solution, C&W Networks continues to offer robust services across 42 countries with superior reliability and scalability of international wholesale capacity.
C&W Networks has bolstered its subsea network capacity by upgrading several unrepeatered and repeatered segments to 100G, using Xtera's Nu-Wave Optima™ multi-purpose optical networking platform. The submarine cable systems were upgraded with new 100G channels to include the 1,570 km Gemini - Bermuda cable system, the 1,700 km Caribbean - US (CBUS) cable system, the 1,700 km East West Cable (EWC) system, the 1,440 km festoon Eastern Caribbean Fiber System (ECFS), and part of the 8,700 km ARCOS-1 submarine ring.
"The global build-out of data centers, coupled with rapid deployment of cloud-based services, are driving renewed demand for even higher fixed and burst rate connections with emphasis on high availability through redundancy," said Paul Scott, President of C&W Networks. "Our goal is to proactively prepare our networks with the right technology to efficiently address the evolving business needs of today and the future. We are very excited to enhance our network performance to100G and 100G+ and Xtera was a natural choice for us."
The same optical networking platform was used over the unrepeatered and repeatered segments, enabling a unified, seamless network from an operational perspective. For the upgrade of unrepeatered segments, advanced 100G optical channel technology combined with Xtera's Wise Raman™ solution raised the capacity to multi terabits per second level even on the longest unrepeatered segments (approaching 400 km spans). This combination of technologies also enabled C&W Networks to bypass some intermediate sites when no local add/drop of 100G waves was needed, eliminating the need for back-to-back terminal equipment as found in the previous network design based on 10G optical channel technology.
"Strengthening our relationship with C&W Networks, these new upgrade projects are further evidence of the confidence network operators place in Xtera's capabilities to improve subsea optical transmission infrastructure already deployed across the world," said Jon Hopper, President and Chief Executive Officer of Xtera. "Upgrading existing subsea cable systems to increase their capacity and extend their lifetime -- from a capacity-cost perspective -- is part of our subsea solution portfolio, which includes subsea cable recovery and re-lay, and as well as new build."
About C&W NetworksC&W Networks is a wholly owned subsidiary of Cable & Wireless Communications and a wholesale telecommunications service provider that offers broadband, IP capacity and a growing portfolio of managed services and integrated solutions to global, regional and local telecom carriers, TV cable companies, Internet Service Providers and Network Integrators. C&W Networks operates the largest subsea multi-ring fibre-optic network throughout the greater Caribbean, Central American and Andean region along with the most comprehensive fully meshed MPLS network in the region. Reaching 42 countries, the company's fully protected ringed submarine fibre optic network spans more than 48,000km. Cable routes include the Caribbean Optical-ring System (ARCOS-1), Colombia-Florida Express (CFX-1), EC-Link cable system, Fibralink, Maya 1, Eastern Caribbean Fiber Express (ECFS), Taino-Carib, East-West, Cayman-Jamaica Fibre system, Caribbean-Bermuda U.S (CBUS), Americas II, Gemini Bermuda, Pan America (PAN-AM), Antillas 1 and Pacific Caribbean Cable System (PCCS). For more information visit:www.cwnetworks.com.
About Cable & Wireless CommunicationsCable & Wireless Communications Plc (CWC) is a full service communications and entertainment provider, operating in the Caribbean and Latin America. With annual sales of over $2.4bn, it operates both mobile and fixed networks, supported by submarine and terrestrial optical fibre backhaul capacity. Through the acquisition of Columbus International Inc. on 31 March 2015, CWC now delivers superior high-speed mobile data, broadband and video services. It has leading market positions in Mobile, Fixed Line, Broadband and Video consumer offers.
Through its business division, CWC provides data centre hosting, domestic and international managed network services, and customised IT service solutions, utilising cloud technology to serve business and government customers.
The company also operates a state-of-the-art subsea fibre optic cable network that spans more than 48,000 km -- the most extensive in the region -- as well as 38,000 km of terrestrial fibre providing wholesale and carrier backhaul capacity.
CWC has more than 7,200 employees serving over 6.3 million customers (Mobile 4.1m; Fixed Line 1.1m; Video 465k and Broadband 680k) as well as over 125k corporate clients across 42 countries. The Company's leading brands include; LIME and Flow in the Caribbean; BTC in The Bahamas; Mas Movil in Panama; C&W Business and C&W Networks. CWC is the market leader in most products offered and territories served. It is a major contributor to local communities through its corporate social responsibility programmes.
Cable & Wireless Communications' shares are quoted on the London Stock Exchange under the ticker CWC. The company is headquartered in London with its operational hub located in Miami, within close proximity to the Caribbean and Latin America. For more information, please visit:www.cwc.com.
About Xtera Communications, Inc.Xtera Communications, Inc. (NASDAQ:XCOM) is a leading provider of high-capacity, cost-effective optical transport solutions, supporting the high growth in global demand for bandwidth. Xtera sells solutions to telecommunications service providers, content service providers, enterprises and government entities worldwide. Xtera's proprietary Wise Raman™ optical amplification technology leads to capacity and reach performance advantages over competitive products. Xtera's solutions enable cost-effective capacity to meet customers' bandwidth requirements of today and to support their increasing bandwidth demand fueled by the development of data centers and related cloud-based services.
For more information, visitwww.xtera.com, contactinfo@xtera.comor connect viaLinkedIn,Twitter,FacebookandYouTube.
[Social Media Buzz]
Cotización del #bitcoin a las 00:00hs
Venta: 5805 ARS
Compra: 5475 ARS || #RDD / #BTC on the exchanges: Cryptsy: Error Bittrex: 0.00000006 Average $2.3E-5 per #reddcoin 23:00:01 via #priceo…pic.twitter.com/RqwUd6Nk4R || RT @LuthfiAdriyanto #BeriTebengan | paster (spbu samping btc mall) - Wisma GKBI | 31/01/2016 19:00 | 2 | Share BenTol || Current price: 263.62£ $BTCGBP $btc #bitcoin 2016-01-31 16:00:17 GMT || In the last 10 mins, there were arb opps spanning 13 exchange pair(s), yielding pro...
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373.06, 374.45, 369.95, 389.59, 386.55, 376.52, 376.62, 373.45, 376.03, 381.65
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Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 254.32, 262.87, 270.64, 261.64, 263.44, 269.46, 266.27, 274.02, 276.50, 281.65, 283.68, 285.30, 293.79, 304.62, 313.86, 328.02, 314.17, 325.43, 361.19, 403.42, 411.56, 386.35, 374.47, 386.48, 373.37, 380.26, 336.82, 311.08, 338.15, 336.75, 332.91, 320.17, 330.75, 335.09, 334.59, 326.15, 322.02, 326.93, 324.54, 323.05, 320.05, 328.21, 352.68, 358.04, 357.38, 371.29, 377.32, 362.49, 359.19, 361.05, 363.18, 388.95, 388.78, 395.54, 415.56, 417.56, 415.48, 451.94, 435.00, 433.76, 444.18, 465.32, 454.93, 456.08, 463.62, 462.32, 442.68, 438.64, 436.57, 442.40, 454.98, 455.65, 417.27, 422.82, 422.28, 432.98, 426.62, 430.57, 434.33, 433.44, 430.01, 433.09, 431.96, 429.11, 458.05, 453.23, 447.61, 447.99, 448.43, 435.69.
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[Bitcoin Technical Analysis for 2016-01-12]
Volume: 115607000, RSI (14-day): 50.85, 50-day EMA: 414.85, 200-day EMA: 332.38
[Wider Market Context]
Gold Price: 1085.60, Gold RSI: 51.79
Oil Price: 30.44, Oil RSI: 25.99
[Recent News (last 7 days)]
You say advertising, I say block that malware: The real reason online advertising is doomed and adblockers thrive? Its malware epidemic is unacknowledged, and out of control.
The Forbes 30 Under 30 list came out this week and it featured a prominent security researcher. Other researchers were pleased to see one of their own getting positive attention, and visited the site in droves to view the list.
On arrival, like a growing number of websites, Forbes asked readers to turn off ad blockers in order to view the article. After doing so, visitors were immediately served with pop-under malware, primed to infect their computers, and likely silently steal passwords, personal data and banking information. Or, as is popular worldwide with these malware "exploit kits," lock up their hard drives in exchange for Bitcoin ransom.
One researcher commented on Twitter that the situation was "ironic" -- and while it's certainly another variant ofhackenfreude, ironic isn't exactly the word I'd use to describe what happened.
That's because this situation spotlights what happened in 2015 to billions -- yep, billions -- of people who were victims of virus-infected ads which were spread via ad networks like germs from a sneeze across the world's most popular websites.
Less than a month ago, a bogus banner ad was found serving malvertising to visitors of video site DailyMotion. After discovering it, security companyMalwarebytescontacted the online ad platform the bad ad was coming through, Atomx. The company blamed a "rogue" advertiser on the WWPromoter network.
It was estimated the adware broadcast through DailyMotion put 128 million people at risk. To be specific, it was from the notorious malware family called "Angler Exploit Kit." Remember this name, because I'm pretty sure we're going to be getting to know it a whole lot better in 2016.
Last August, Angler struck MSN.com with -- you guessed it -- another drive-by malvertising campaign. It was the same campaign that had infected Yahoo visitors back in July (an estimated 6.9 billion visits per month, it'sconsideredthe biggest malvertising attack so far).
October saw Angler targeting Daily Mail visitors through poisoned ads as well (monthly ad impressions64.4 million). Only last month, Angler's malicious ads hit visitors to Reader's Digest (210K readers;ad impressions 1.7M). That attack sat unattended after being in the press, and was fixed only after a week of public outcry.
It's crazy to consider what a perfect marriage this is, between the advertisers and the criminals pushing the exploit kits. They have alotin common.
Both try to trick us into giving them something we don't want to. We've recently learned that both entities surveil and track us beyond what we're OK with. And both are hard to get rid of. You know, like those gross toenail and skin condition ad-banners found at the bottom of every cheapo blog you've ever seen, forever burned into the "can't unsee" section of your brain.
It actually makes business sense to think about malware attacks like an advertiser. You want to deliver your infection to, and scrape those dollars from, every little reader out there. You need a targeted delivery system, with the widest distribution, and as many clueless middlemen as possible.
It's easy to want to blame Reader's Digest, or Yahoo, or Forbes, or Daily Mail, or any of these sites for screwing viewers by serving them malicious ads and not telling them, or not helping them with the cleanup afterward. And it's a hell of a lot easier when they've compelled us to turn off our ad blockers to simply see what brought us to their site.
But the problem is coming through them, from the ad networks themselves. The same ones, it should be mentioned, who control the Faustian bargains made by bartering and selling our information.
What should the websites do? The ad networks clearly don't have a handle on this at all, giving us one more reason to use ad blockers. They're practically the most popular malware delivery systems on Earth, and they're making the websites they do business with into the same poisonous monster. I don't even want to think about what it all means for the security practices of the ad companies handling our tracking data or the sites we visit hosting these pathogens.
So, to my friend on theForbes 30 Under 30 list-- a malware researcher, which I'll concede is actually ironic -- I'm sorry I won't be seeing your time in that particular spotlight. What we need is a word for the fact that ad blockers have become our first line of defense against a malware epidemic. Especially during a time when the sites we visit are begging, pleading, demanding and practically tricking us into turning off Ad Block Plus.
[Image credit: Getty Images] || You say advertising, I say block that malware: The real reason online advertising is doomed and adblockers thrive? Its malware epidemic is unacknowledged, and out of control. The Forbes 30 Under 30 list came out this week and it featured a prominent security researcher. Other researchers were pleased to see one of their own getting positive attention, and visited the site in droves to view the list. On arrival, like a growing number of websites, Forbes asked readers to turn off ad blockers in order to view the article. After doing so, visitors were immediately served with pop-under malware, primed to infect their computers, and likely silently steal passwords, personal data and banking information. Or, as is popular worldwide with these malware "exploit kits," lock up their hard drives in exchange for Bitcoin ransom. One researcher commented on Twitter that the situation was "ironic" -- and while it's certainly another variant of hackenfreude , ironic isn't exactly the word I'd use to describe what happened. The @Forbes website held content until I disabled Ad Blocker. I did so and was immediately given pop-under malware. pic.twitter.com/eDVRAA9ZSu — Brian Baskin (@bbaskin) January 4, 2016 That's because this situation spotlights what happened in 2015 to billions -- yep, billions -- of people who were victims of virus-infected ads which were spread via ad networks like germs from a sneeze across the world's most popular websites. Less than a month ago, a bogus banner ad was found serving malvertising to visitors of video site DailyMotion. After discovering it, security company Malwarebytes contacted the online ad platform the bad ad was coming through, Atomx. The company blamed a "rogue" advertiser on the WWPromoter network. It was estimated the adware broadcast through DailyMotion put 128 million people at risk. To be specific, it was from the notorious malware family called "Angler Exploit Kit." Remember this name, because I'm pretty sure we're going to be getting to know it a whole lot better in 2016. Story continues Last August, Angler struck MSN.com with -- you guessed it -- another drive-by malvertising campaign. It was the same campaign that had infected Yahoo visitors back in July (an estimated 6.9 billion visits per month, it's considered the biggest malvertising attack so far). October saw Angler targeting Daily Mail visitors through poisoned ads as well (monthly ad impressions 64.4 million ). Only last month, Angler's malicious ads hit visitors to Reader's Digest (210K readers; ad impressions 1.7M ). That attack sat unattended after being in the press, and was fixed only after a week of public outcry. It's crazy to consider what a perfect marriage this is, between the advertisers and the criminals pushing the exploit kits. They have a lot in common. pop-up ads coming out of laptop screen with a spring Both try to trick us into giving them something we don't want to. We've recently learned that both entities surveil and track us beyond what we're OK with. And both are hard to get rid of. You know, like those gross toenail and skin condition ad-banners found at the bottom of every cheapo blog you've ever seen, forever burned into the "can't unsee" section of your brain. It actually makes business sense to think about malware attacks like an advertiser. You want to deliver your infection to, and scrape those dollars from, every little reader out there. You need a targeted delivery system, with the widest distribution, and as many clueless middlemen as possible. It's easy to want to blame Reader's Digest, or Yahoo, or Forbes, or Daily Mail, or any of these sites for screwing viewers by serving them malicious ads and not telling them, or not helping them with the cleanup afterward. And it's a hell of a lot easier when they've compelled us to turn off our ad blockers to simply see what brought us to their site. But the problem is coming through them, from the ad networks themselves. The same ones, it should be mentioned, who control the Faustian bargains made by bartering and selling our information. What should the websites do? The ad networks clearly don't have a handle on this at all, giving us one more reason to use ad blockers. They're practically the most popular malware delivery systems on Earth, and they're making the websites they do business with into the same poisonous monster. I don't even want to think about what it all means for the security practices of the ad companies handling our tracking data or the sites we visit hosting these pathogens. So, to my friend on the Forbes 30 Under 30 list -- a malware researcher, which I'll concede is actually ironic -- I'm sorry I won't be seeing your time in that particular spotlight. What we need is a word for the fact that ad blockers have become our first line of defense against a malware epidemic. Especially during a time when the sites we visit are begging, pleading, demanding and practically tricking us into turning off Ad Block Plus. [Image credit: Getty Images] || Interest In Bitcoin Mining Returns: While markets around the world suffered significant turbulence this week, bitcoinclimbed6 percent.
The cryptocurrency is well known for its wild swings in valuation, but many say the digital currency is back on a more stable path and could prove a worthwhile investment in the New Year. In 2015, bitcoin fell as low, as $183 as confidence in the cryptocurrency's staying power waned. However, on Thursday, bitcoin was trading at $429, a significant increase.
Mining Returns
With bitcoin on the upswing, bitcoin mining has begun togain popularityonce again, according to Bloomberg.
Related Link:Mike Tyson Dives Deeper Into Bitcoin
When cryptocurrencies were first introduced, miners set up their computers to solve complex problems and be rewarded with the release of new coins. As the value of bitcoin went up, so did the profitability of bitcoin mining. However, last year as bitcoin prices plummeted, the number of miners significantly declined as the cost to buy hardware and pay electric bills to run the machines outweighed the rewards.
Now that bitcoin has made its way higher, mining efforts are increasing – especially among those who bought the necessary hardware last year, but haven't been able to make use of it.
A Risky Business
While mining is gaining popularity once again, many caution that bitcoin's price isn't the only factor that drives profitability for miners. This year, bitcoin's software will reduce the number of coins that miners receive for mining activities by half, something that could have an impact on the time it takes to recoup investment costs.
Not only that, but bitcoin's price is far from stable. In past years, bitcoin's wild swings in value have proven that it is difficult to predict whether the cryptocurrency will be able to continue trading at current levels, making investing in mining equipment a bit of a gamble.
Image Credit: Public Domain
See more from Benzinga
• Should Investors Be Worried About Apple?
• CES Paints Worrying Picture For Telecoms
• Netflix Gains On Expansion News, But Some Still Wary
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Interest In Bitcoin Mining Returns: While markets around the world suffered significant turbulence this week, bitcoin climbed 6 percent. The cryptocurrency is well known for its wild swings in valuation, but many say the digital currency is back on a more stable path and could prove a worthwhile investment in the New Year. In 2015, bitcoin fell as low, as $183 as confidence in the cryptocurrency's staying power waned. However, on Thursday, bitcoin was trading at $429, a significant increase. Mining Returns With bitcoin on the upswing, bitcoin mining has begun to gain popularity once again, according to Bloomberg. Related Link: Mike Tyson Dives Deeper Into Bitcoin When cryptocurrencies were first introduced, miners set up their computers to solve complex problems and be rewarded with the release of new coins. As the value of bitcoin went up, so did the profitability of bitcoin mining. However, last year as bitcoin prices plummeted, the number of miners significantly declined as the cost to buy hardware and pay electric bills to run the machines outweighed the rewards. Now that bitcoin has made its way higher, mining efforts are increasing – especially among those who bought the necessary hardware last year, but haven't been able to make use of it. A Risky Business While mining is gaining popularity once again, many caution that bitcoin's price isn't the only factor that drives profitability for miners. This year, bitcoin's software will reduce the number of coins that miners receive for mining activities by half, something that could have an impact on the time it takes to recoup investment costs. Not only that, but bitcoin's price is far from stable. In past years, bitcoin's wild swings in value have proven that it is difficult to predict whether the cryptocurrency will be able to continue trading at current levels, making investing in mining equipment a bit of a gamble. Image Credit: Public Domain See more from Benzinga Should Investors Be Worried About Apple? CES Paints Worrying Picture For Telecoms Netflix Gains On Expansion News, But Some Still Wary © 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Interest In Bitcoin Mining Returns: While markets around the world suffered significant turbulence this week, bitcoinclimbed6 percent.
The cryptocurrency is well known for its wild swings in valuation, but many say the digital currency is back on a more stable path and could prove a worthwhile investment in the New Year. In 2015, bitcoin fell as low, as $183 as confidence in the cryptocurrency's staying power waned. However, on Thursday, bitcoin was trading at $429, a significant increase.
Mining Returns
With bitcoin on the upswing, bitcoin mining has begun togain popularityonce again, according to Bloomberg.
Related Link:Mike Tyson Dives Deeper Into Bitcoin
When cryptocurrencies were first introduced, miners set up their computers to solve complex problems and be rewarded with the release of new coins. As the value of bitcoin went up, so did the profitability of bitcoin mining. However, last year as bitcoin prices plummeted, the number of miners significantly declined as the cost to buy hardware and pay electric bills to run the machines outweighed the rewards.
Now that bitcoin has made its way higher, mining efforts are increasing – especially among those who bought the necessary hardware last year, but haven't been able to make use of it.
A Risky Business
While mining is gaining popularity once again, many caution that bitcoin's price isn't the only factor that drives profitability for miners. This year, bitcoin's software will reduce the number of coins that miners receive for mining activities by half, something that could have an impact on the time it takes to recoup investment costs.
Not only that, but bitcoin's price is far from stable. In past years, bitcoin's wild swings in value have proven that it is difficult to predict whether the cryptocurrency will be able to continue trading at current levels, making investing in mining equipment a bit of a gamble.
Image Credit: Public Domain
See more from Benzinga
• Should Investors Be Worried About Apple?
• CES Paints Worrying Picture For Telecoms
• Netflix Gains On Expansion News, But Some Still Wary
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || 6 trades to watch in an uncertain market: After U.S. stocks followed global markets lower Thursday, "Fast Money" traders outlined what they deemed safe plays to ride out uncertainty.
Major averages each closed down more than 2 percent, after a brief Chinese trading session in which a 7 percent drop in the CSI300 triggered a halt. Traders looked to longer-term plays that could offer protection through volatility.
Market Vectors Gold Miners ETF(NYSE Arca: GDX)
The price of gold(CEC:Commodities Exchange Centre: @GC.1), a traditional "safe haven" asset, climbed Thursday amid the uncertainty in stock and oil markets. The Market Vectors Gold Miners ETF rose more than 4 percent for the day.
Both traders Guy Adami and Brian Kelly said gold likely has more upside ahead.
iShares 20+ Year Treasury Bond ETF(NYSE Arca: TLT)
U.S. Treasury prices rose in choppy trading Thursday amid a flight to safer assets, sending yields lower. In that environment, the iShares 20+ Year Treasury Bond ETF could make a good play, said Adami and trader Dan Nathan.
Utilities Select Sector SPDR Fund(NYSE Arca: XLU)
Utilities offer a place to "hide" in current markets, said trader Steve Grasso. Nathan also identified them as a defensive play because of their dividend yields.
They looked to the Utilities Select Sector SPDR Fund, which fell slightly on Thursday.
Retail
Shares of department store chain Macy's(NYSE: M)climbed about 2 percent Thursday in the wake of a restructuring announcement. Adami believes the stock can rise even more.
Grasso also outlined possible strength in American Eagle Outfitters(NYSE: AEO).
Verizon(NYSE: VZ)
Nathan also saw Verizon as a possible play for investors looking for yield.
Disclosures:
Dan Nathan
Dan Nathan is long MCD Feb Put Spread, Long PFE buy-write, long TWTR March Risk Reversal, long UUP March call, long XLU Feb Call spread, long PYPL Jan Risk Reversal, long M Jan16 call spread, long NTAP Jan risk reversal, long QCOM feb calls, short SPY, Long UUP, long WMT puts
Steve Grasso
Steve Grasso is long AAPL, BA, BAC, CC, DD, DIS, DECK, EVGN, KBH, MJNA, MBLY, MU, OLN, PFE, PHM, T, TWTR, GDX firm is long APC, CXO, OXY, BP, CVX, MCD, RIG, AMZN kids own EFA, EFG, EWJ, IJR, SPY
Brian Kelly
Brian Kelly is long BBRY, Bitcoin, GDX, GLD, Hong Kong Dollar, TLT, US Dollar; he is short British Pound, Euro, Yuan, Canadian Dollar, GSG, EEM, EWC, EWH, KRE, SPY, DB
Guy Adami
Guy Adami is long CELG, EXAS, GDX, INTC, Guy Adami's wife, Linda Snow, works at Merck.
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• Personal Finance || 6 trades to watch in an uncertain market: After U.S. stocks followed global markets lower Thursday, "Fast Money" traders outlined what they deemed safe plays to ride out uncertainty. Major averages each closed down more than 2 percent, after a brief Chinese trading session in which a 7 percent drop in the CSI300 triggered a halt. Traders looked to longer-term plays that could offer protection through volatility. Market Vectors Gold Miners ETF (NYSE Arca: GDX) The price of gold (CEC:Commodities Exchange Centre: @GC.1) , a traditional "safe haven" asset, climbed Thursday amid the uncertainty in stock and oil markets. The Market Vectors Gold Miners ETF rose more than 4 percent for the day. Both traders Guy Adami and Brian Kelly said gold likely has more upside ahead. iShares 20+ Year Treasury Bond ETF (NYSE Arca: TLT) U.S. Treasury prices rose in choppy trading Thursday amid a flight to safer assets, sending yields lower. In that environment, the iShares 20+ Year Treasury Bond ETF could make a good play, said Adami and trader Dan Nathan. Utilities Select Sector SPDR Fund (NYSE Arca: XLU) Utilities offer a place to "hide" in current markets, said trader Steve Grasso. Nathan also identified them as a defensive play because of their dividend yields. They looked to the Utilities Select Sector SPDR Fund, which fell slightly on Thursday. Retail Shares of department store chain Macy's (NYSE: M) climbed about 2 percent Thursday in the wake of a restructuring announcement. Adami believes the stock can rise even more. Grasso also outlined possible strength in American Eagle Outfitters (NYSE: AEO) . Verizon (NYSE: VZ) Nathan also saw Verizon as a possible play for investors looking for yield. Disclosures: Dan Nathan Dan Nathan is long MCD Feb Put Spread, Long PFE buy-write, long TWTR March Risk Reversal, long UUP March call, long XLU Feb Call spread, long PYPL Jan Risk Reversal, long M Jan16 call spread, long NTAP Jan risk reversal, long QCOM feb calls, short SPY, Long UUP, long WMT puts Story continues Steve Grasso Steve Grasso is long AAPL, BA, BAC, CC, DD, DIS, DECK, EVGN, KBH, MJNA, MBLY, MU, OLN, PFE, PHM, T, TWTR, GDX firm is long APC, CXO, OXY, BP, CVX, MCD, RIG, AMZN kids own EFA, EFG, EWJ, IJR, SPY Brian Kelly Brian Kelly is long BBRY, Bitcoin, GDX, GLD, Hong Kong Dollar, TLT, US Dollar; he is short British Pound, Euro, Yuan, Canadian Dollar, GSG, EEM, EWC, EWH, KRE, SPY, DB Guy Adami Guy Adami is long CELG, EXAS, GDX, INTC, Guy Adami's wife, Linda Snow, works at Merck. More From CNBC Top News and Analysis Latest News Video Personal Finance || Your first trade for Friday: The "Fast Money" traders delivered their final trades of the day.
Dan Nathan was a seller of Wal-Mart(WMT).
Steve Grasso was a buyer of American Eagle Outfitters(AEO).
Brian Kelly was a seller of Deutsche Bank(XETRA:DBK-DE).
Guy Adami was a buyer of the Market Vectors Gold Miners ETF(NYSE Arca: GDX)after picking Macy's(NYSE:M)three days in a row.
Trader disclosure: On January 7, 2016, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Dan Nathan is long MCD Feb put spread, long PFE buy-write, long TWTR March risk reversal, long UUP March call, long XLU Feb call spread, long PYPL Jan risk reversal, long M Jan16 call spread, long NTAP Jan risk reversal, long QCOM Feb calls, short SPY, long UUP, long WMT puts. Steve Grasso is long AAPL, BA, BAC, CC, DD, DIS, DECK, EVGN, KBH, MJNA, MBLY, MU, OLN, PFE, PHM, T, TWTR, GDX firm is long APC, CXO, OXY, BP, CVX, MCD, RIG, AMZN kids own EFA, EFG, EWJ, IJR, SPY. Brian Kelly is long BBRY, Bitcoin, GDX, GLD, Hong Kong Dollar, TLT, US Dollar; he is short British Pound, Euro, Yuan, Canadian Dollar, GSG, EEM, EWC, EWH, KRE, SPY, DB. Guy Adami is long CELG, EXAS, GDX, INTC, Guy Adami's wife, Linda Snow, works at Merck.
Wolfe Research Sr. Analyst Paul Sankey: No disclosures.
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• Top News and Analysis
• Latest News Video
• Personal Finance || Your first trade for Friday: The " Fast Money " traders delivered their final trades of the day. Dan Nathan was a seller of Wal-Mart ( WMT ) . Steve Grasso was a buyer of American Eagle Outfitters ( AEO ) . Brian Kelly was a seller of Deutsche Bank (XETRA:DBK-DE) . Guy Adami was a buyer of the Market Vectors Gold Miners ETF (NYSE Arca: GDX) after picking Macy's (NYSE: M ) three days in a row. Trader disclosure: On January 7, 2016, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Dan Nathan is l ong MCD Feb put spread, long PFE buy-write, long TWTR March risk reversal, long UUP March call, long XLU Feb call spread, long PYPL Jan risk reversal, long M Jan16 call spread, long NTAP Jan risk reversal, long QCOM Feb calls, short SPY, long UUP, long WMT puts. Steve Grasso is long AAPL, BA, BAC, CC, DD, DIS, DECK, EVGN, KBH, MJNA, MBLY, MU, OLN, PFE, PHM, T, TWTR, GDX firm is long APC, CXO, OXY, BP, CVX, MCD, RIG, AMZN kids own EFA, EFG, EWJ, IJR, SPY. Brian Kelly is long BBRY, Bitcoin, GDX, GLD, Hong Kong Dollar, TLT, US Dollar; he is short British Pound, Euro, Yuan, Canadian Dollar, GSG, EEM, EWC, EWH, KRE, SPY, DB. Guy Adami is long CELG, EXAS, GDX, INTC, Guy Adami's wife, Linda Snow, works at Merck. Wolfe Research Sr. Analyst Paul Sankey: No disclosures. More From CNBC Top News and Analysis Latest News Video Personal Finance || 10 Tech Predictions for 2016: As I always say, predicting what will happen in the tech industry over a short time horizon is a lot like shooting darts at Jell-O. But someone’s got to do it and it may as well be me. Besides, myprophecies for 2015didn’t do nearly as well asin 2014, and I’m itching to redeem myself.
I did hit a number of forecasts out of the park, including the success of Apple Pay and the demise of Twitter CEO Dick Costolo. And my prediction that the Nasdaq would break its all-time high and then fizzle out turned out to be reasonably accurate.
But a few of the calls I made, including those aboutnet neutralityand the Comcast – Time Warner Cable merger – were thwarted by Netflix CEO Reed Hastings and federal regulators. [Sigh.] And my bet oncinematic reality startup Magic Leapnever made the jump from virtual to reality.
Let’s see if I can do better this year. Here’s what my crystal ball says will happen in 2016:
Users will develop smart gadget fatigue.While smartphones and tablets, to a lesser extent, will continue to see strong growth in emerging markets, the growth curve will continue to flatten out in mature markets – especially among Android devices. Wearables will get a boost from Apple Watch 2 but unit sales will remain unimpressive compared with the incomparable iPhone.
Jack will tweak Twitter.O Twitter, Twitter! Wherefore art thou Twitter? The return of Jack Dorsey as CEO will see the cofounder do a lot of Facebook-like (move fast and break things) tweaking to Twitter, starting with increasing the 140 character tweet limit. Jack will continue to tweak the product until something good happens, as in renewed user growth and engagement.
Apple and Google car hype will reach fever pitch.Car tech is heating up in a big way. And since the market’s response to Apple’s first new products since Steve Jobs – Apple Watch and Apple TV (the product, not the hobby) – has been muted, fanboys will be clamoring for rumors on the car front. And Google will likewise be pressured to show progress on at least one of its massive Alphabet ventures, notably its self-driving car.
Drones will continue to bug neighbors, privacy buffs and the FAA.Drones will remain an annoying hobbyfor the foreseeable future. Unfortunately, nobody in desperate need of a midnight pizza or a six-pack will be getting one delivered by drone anytime soon. And definitely not anytime this year.
The digital and real worlds will meet in augmented reality (AR).Virtual reality has been the next big thingfor as far back as I can remember, but the technology behind Facebook Oculus Rift, Samsung Gear VR and Google Cardboard is becoming more real all the time. A breakthrough, however, is more likely in the AR space, where the digital and real worlds meet. That means something will pop from Magic Leap, Microsoft HoloLens, Google Glass 2, or who knows, maybe Apple.
The tech bubble will correct.With notable exceptions like Netflix and Amazon, tech stocks took a breather in 2015 after an impressive six-year bull run. But the slowing global economy, the Fed’s monetary tightening, and terrorism concerns will let some air out of theprivate equity bubbleand take the Nasdaq down into correction territory.
Satoshi Nakamoto, the mysterious Bitcoin founder, will not be found.Wired, Gizmodo and every other tech media outlet have been hot on the trail ofidentifying Satoshi Nakamoto, the pseudonym of Bitcoin’s mysterious founder. They thought they had it figured out a few weeks ago, but that turned out to be an elaborate hoax. Still, it was nowhere near as embarrassing asNewsweek’s Dorian Nakamotodebacle of 2014.
The IPO market will be weak.The private equity bubble is keeping late-stage startups that would ordinarily go public out of the IPO market. That will change when there’s a unicorn shakeout, investors get burned and VCs stop throwing money at startups at crazy valuations. That’s when tech companies will once again see public markets as viable exits. That’s when you’ll seeunicorns stampede on Wall Street. And it won’t be in 2016.
M&A activity will be strong.With the bull market running out of steam and private investors becoming more cautious, M&A exits will be on the rise. Unfortunately, a lot of them will be companies that maintain high burn rates until it’s too late and end up going for dimes on a dollar in fire sales.
Yahoo will sell its core business and Marissa Mayer will be out as CEO.Here’s a fun little rhyme for 2016, courtesy of Humpty Dumpty:
Yahoo Yahoo sat on a wallYahoo Yahoo had a great fallAll the Valley’s CEOs and all the Valley’s chairmenCouldn’t put Yahoo Yahoo together again
Jerry Yang, Carol Bartz, Roy Bostock, Tim Morse, Scott Thompson, Ross Levinsohn, Fred Amoroso, Maynard Webb. I’m sure I missed a CEO or chairman somewhere in there, but in any case, enough is enough. It’s long past time to put this company, its board, and Marissa Mayer out of their misery. Yahoo will be acquired or taken private in 2016.
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• The Most Annoying Aspects of Our Tech-Crazed Culture || 10 Tech Predictions for 2016: As I always say, predicting what will happen in the tech industry over a short time horizon is a lot like shooting darts at Jell-O. But someone’s got to do it and it may as well be me. Besides, my prophecies for 2015 didn’t do nearly as well as in 2014 , and I’m itching to redeem myself. I did hit a number of forecasts out of the park, including the success of Apple Pay and the demise of Twitter CEO Dick Costolo. And my prediction that the Nasdaq would break its all-time high and then fizzle out turned out to be reasonably accurate. But a few of the calls I made, including those about net neutrality and the Comcast – Time Warner Cable merger – were thwarted by Netflix CEO Reed Hastings and federal regulators. [Sigh.] And my bet on cinematic reality startup Magic Leap never made the jump from virtual to reality. Let’s see if I can do better this year. Here’s what my crystal ball says will happen in 2016: Users will develop smart gadget fatigue. While smartphones and tablets, to a lesser extent, will continue to see strong growth in emerging markets, the growth curve will continue to flatten out in mature markets – especially among Android devices. Wearables will get a boost from Apple Watch 2 but unit sales will remain unimpressive compared with the incomparable iPhone. Jack will tweak Twitter. O Twitter, Twitter! Wherefore art thou Twitter? The return of Jack Dorsey as CEO will see the cofounder do a lot of Facebook-like (move fast and break things) tweaking to Twitter, starting with increasing the 140 character tweet limit. Jack will continue to tweak the product until something good happens, as in renewed user growth and engagement. Apple and Google car hype will reach fever pitch. Car tech is heating up in a big way. And since the market’s response to Apple’s first new products since Steve Jobs – Apple Watch and Apple TV (the product, not the hobby) – has been muted, fanboys will be clamoring for rumors on the car front. And Google will likewise be pressured to show progress on at least one of its massive Alphabet ventures, notably its self-driving car. Drones will continue to bug neighbors, privacy buffs and the FAA. Drones will remain an annoying hobby for the foreseeable future. Unfortunately, nobody in desperate need of a midnight pizza or a six-pack will be getting one delivered by drone anytime soon. And definitely not anytime this year. The digital and real worlds will meet in augmented reality (AR). Virtual reality has been the next big thing for as far back as I can remember, but the technology behind Facebook Oculus Rift, Samsung Gear VR and Google Cardboard is becoming more real all the time. A breakthrough, however, is more likely in the AR space, where the digital and real worlds meet. That means something will pop from Magic Leap, Microsoft HoloLens, Google Glass 2, or who knows, maybe Apple. Story continues The tech bubble will correct. With notable exceptions like Netflix and Amazon, tech stocks took a breather in 2015 after an impressive six-year bull run. But the slowing global economy, the Fed’s monetary tightening, and terrorism concerns will let some air out of the private equity bubble and take the Nasdaq down into correction territory. Satoshi Nakamoto, the mysterious Bitcoin founder, will not be found. Wired, Gizmodo and every other tech media outlet have been hot on the trail of identifying Satoshi Nakamoto , the pseudonym of Bitcoin’s mysterious founder. They thought they had it figured out a few weeks ago, but that turned out to be an elaborate hoax. Still, it was nowhere near as embarrassing as Newsweek’s Dorian Nakamoto debacle of 2014. The IPO market will be weak. The private equity bubble is keeping late-stage startups that would ordinarily go public out of the IPO market. That will change when there’s a unicorn shakeout, investors get burned and VCs stop throwing money at startups at crazy valuations. That’s when tech companies will once again see public markets as viable exits. That’s when you’ll see unicorns stampede on Wall Street . And it won’t be in 2016. M&A activity will be strong. With the bull market running out of steam and private investors becoming more cautious, M&A exits will be on the rise. Unfortunately, a lot of them will be companies that maintain high burn rates until it’s too late and end up going for dimes on a dollar in fire sales. Yahoo will sell its core business and Marissa Mayer will be out as CEO. Here’s a fun little rhyme for 2016, courtesy of Humpty Dumpty: Yahoo Yahoo sat on a wall Yahoo Yahoo had a great fall All the Valley’s CEOs and all the Valley’s chairmen Couldn’t put Yahoo Yahoo together again Jerry Yang, Carol Bartz, Roy Bostock, Tim Morse, Scott Thompson, Ross Levinsohn, Fred Amoroso, Maynard Webb. I’m sure I missed a CEO or chairman somewhere in there, but in any case, enough is enough. It’s long past time to put this company, its board, and Marissa Mayer out of their misery. Yahoo will be acquired or taken private in 2016. Related Articles GM Eyes the Future With $500M Bet on Lyft Where You Can Watch and Participate in the GOP Debate The Most Annoying Aspects of Our Tech-Crazed Culture View comments || Cable & Wireless Communications and Huawei Have Successfully Tested the First Trial of the Fastest Copper Based Broadband Service With G.fast Across Latin America: MIAMI, FL--(Marketwired - Jan 6, 2016) - Cable & Wireless Communications Plc's (CWC) business unit in Panama, Cable & Wireless Panama SA (CWP) and Huawei , a leading global information and communications technology (ICT) solutions provider, today announced the first successful trial of the fastest copper based broadband service across Latin America using leading G.fast technology. As a market leader in mobile and broadband services in Panama, CWP is also the largest telecom service provider in the country with a market leading brand, superior network coverage and excellent customer service. CWP partnered with Huawei to deploy CWC's first trial of the G.fast technology on its existing copper infrastructure. "We are excited to be partnering with Cable & Wireless Communications and together pioneering the first trial of the fastest copper fixed line broadband service with G.fast across Latin America," said Mr. Stephen Ma, CEO of Huawei for the Caribbean. "G.fast is the right way to extend the existing fixed line infrastructure to the gigabit access era by accelerating a future oriented ultra-broadband solution with unparalleled user experiences," he added. The G.fast technology trial ran for two months in Panama deploying Huawei's latest multi-service access node equipment. CWP's trial successfully achieved high speeds averaging 500 Mbps to download and 150 Mbps to upload, over its existing copper fixed lines. "We are thrilled to announce that Cable & Wireless Panama was the first market across Latin America to have successfully completed testing of the G.fast technology, which can deliver high speeds, to its customers through the fastest copper based fixed line broadband technology across the region reaching speeds of 500 Mbps," said Carlo Alloni, EVP Technology and Group CTIO, Cable & Wireless Communications. "Our strategic partnership with Huawei has strengthened our commitment to consider solutions that deliver high-speeds," added Alloni. G.fast technology is based on the Time Division Multiplexing (TDM) method with an improved algorithm that cancels the noise in the lines, reducing the effects of crosstalk and allowing transmission of higher rates of bits with a better quality, increasing the speeds of the information transmitted. Huawei's G.fast solution can complement the other technologies selected for its HFC (Hybrid fiber-coaxial) and Fibre delivery platforms. CWP's G.fast technology is providing a fivefold increase in speeds compared to any existing internet copper residential service in Panama and empowering the fastest copper fixed line broadband service across Latin America. Story continues About Huawei Huawei is a leading global information and communications technology (ICT) solutions provider. Driven by customer-centric innovation and open partnerships, Huawei has established an end-to-end ICT solutions portfolio that gives customers competitive advantages in telecom and enterprise networks, devices and cloud computing. Its innovative ICT solutions, products and services are used in more than 170 countries and regions, serving over one-third of the world's population. Founded in 1987, Huawei is a private company fully owned by its employees. About G.fast G.fast is a digital subscriber line (DSL) standard for local loops, with performance targets between 150 Mbps and 1 Gbps, depending on loop length. Since the launch of the world's first G.FAST prototype by Huawei in December 2011, G.FAST technology has become highly anticipated by the ICT industry and has maintained strong development momentum. About C&W Communications Cable & Wireless Communications Plc (CWC) is a full service communications and entertainment provider, operating in the Caribbean and Latin America. With annual sales of over $2.4bn, it operates both mobile and fixed networks, supported by submarine and terrestrial optical fibre backhaul capacity. Through the acquisition of Columbus International Inc. on 31 March 2015, CWC now delivers superior high-speed mobile data, broadband and video services. It has leading market positions in Mobile, Fixed Line, Broadband and Video consumer offers. Through its business division, CWC provides data centre hosting, domestic and international managed network services, and customised IT service solutions, utilising cloud technology to serve business and government customers. The company also operates a state-of-the-art subsea fibre optic cable network that spans more than 42,000 km -- the most extensive in the region -- as well as 38,000 km of terrestrial fibre providing wholesale and carrier backhaul capacity. CWC has more than 7,200 employees serving over 6.3 million customers (Mobile 4.1m; Fixed Line 1.1m; Video 465k and Broadband 680k) as well as over 125k corporate clients across 42 countries. The Company's leading brands include; LIME and Flow in the Caribbean; BTC in The Bahamas; Mas Movil in Panama; C&W Business and C&W Networks. CWC is the market leader in most products offered and territories served. It is a major contributor to local communities through its corporate social responsibility programmes. Cable & Wireless Communications' shares are quoted on the London Stock Exchange under the ticker CWC. The company is headquartered in London with its operational hub located in Miami, within close proximity to the Caribbean and Latin America. For more information visit: www.cwc.com . About CWP Cable & Wireless Panama (CWP) is the market leader in mobile, broadband and fixed line services in Panama. The Company's mobile business operates under the brand name +Movil and the other businesses under + internet and +TV Digital in Panama. CWP is also a leading regional player in enterprise and managed services as well as being a leader in carrier services in partnership with our Caribbean business. View comments || Cable & Wireless Communications and Huawei Have Successfully Tested the First Trial of the Fastest Copper Based Broadband Service With G.fast Across Latin America: MIAMI, FL--(Marketwired - Jan 6, 2016) -Cable & Wireless CommunicationsPlc's (CWC) business unit in Panama,Cable & Wireless PanamaSA (CWP) andHuawei, a leading global information and communications technology (ICT) solutions provider, today announced the first successful trial of the fastest copper based broadband service across Latin America using leading G.fast technology.
As a market leader in mobile and broadband services in Panama, CWP is also the largest telecom service provider in the country with a market leading brand, superior network coverage and excellent customer service. CWP partnered with Huawei to deploy CWC's first trial of the G.fast technology on its existing copper infrastructure.
"We are excited to be partnering with Cable & Wireless Communications and together pioneering the first trial of the fastest copper fixed line broadband service with G.fast across Latin America," said Mr. Stephen Ma, CEO of Huawei for the Caribbean. "G.fast is the right way to extend the existing fixed line infrastructure to the gigabit access era by accelerating a future oriented ultra-broadband solution with unparalleled user experiences," he added.
The G.fast technology trial ran for two months in Panama deploying Huawei's latest multi-service access node equipment. CWP's trial successfully achieved high speeds averaging 500 Mbps to download and 150 Mbps to upload, over its existing copper fixed lines.
"We are thrilled to announce that Cable & Wireless Panama was the first market across Latin America to have successfully completed testing of the G.fast technology, which can deliver high speeds, to its customers through the fastest copper based fixed line broadband technology across the region reaching speeds of 500 Mbps," said Carlo Alloni, EVP Technology and Group CTIO, Cable & Wireless Communications. "Our strategic partnership with Huawei has strengthened our commitment to consider solutions that deliver high-speeds," added Alloni.
G.fast technology is based on the Time Division Multiplexing (TDM) method with an improved algorithm that cancels the noise in the lines, reducing the effects of crosstalk and allowing transmission of higher rates of bits with a better quality, increasing the speeds of the information transmitted.
Huawei's G.fast solution can complement the other technologies selected for its HFC (Hybrid fiber-coaxial) and Fibre delivery platforms. CWP's G.fast technology is providing a fivefold increase in speeds compared to any existing internet copper residential service in Panama and empowering the fastest copper fixed line broadband service across Latin America.
About HuaweiHuawei is a leading global information and communications technology (ICT) solutions provider. Driven by customer-centric innovation and open partnerships, Huawei has established an end-to-end ICT solutions portfolio that gives customers competitive advantages in telecom and enterprise networks, devices and cloud computing. Its innovative ICT solutions, products and services are used in more than 170 countries and regions, serving over one-third of the world's population. Founded in 1987, Huawei is a private company fully owned by its employees.
About G.fastG.fast is a digital subscriber line (DSL) standard for local loops, with performance targets between 150 Mbps and 1 Gbps, depending on loop length. Since the launch of the world's first G.FAST prototype by Huawei in December 2011, G.FAST technology has become highly anticipated by the ICT industry and has maintained strong development momentum.
About C&W CommunicationsCable & Wireless Communications Plc (CWC) is a full service communications and entertainment provider, operating in the Caribbean and Latin America. With annual sales of over $2.4bn, it operates both mobile and fixed networks, supported by submarine and terrestrial optical fibre backhaul capacity. Through the acquisition of Columbus International Inc. on 31 March 2015, CWC now delivers superior high-speed mobile data, broadband and video services. It has leading market positions in Mobile, Fixed Line, Broadband and Video consumer offers.
Through its business division, CWC provides data centre hosting, domestic and international managed network services, and customised IT service solutions, utilising cloud technology to serve business and government customers.
The company also operates a state-of-the-art subsea fibre optic cable network that spans more than 42,000 km -- the most extensive in the region -- as well as 38,000 km of terrestrial fibre providing wholesale and carrier backhaul capacity.
CWC has more than 7,200 employees serving over 6.3 million customers (Mobile 4.1m; Fixed Line 1.1m; Video 465k and Broadband 680k) as well as over 125k corporate clients across 42 countries. The Company's leading brands include; LIME and Flow in the Caribbean; BTC in The Bahamas; Mas Movil in Panama; C&W Business and C&W Networks. CWC is the market leader in most products offered and territories served. It is a major contributor to local communities through its corporate social responsibility programmes.
Cable & Wireless Communications' shares are quoted on the London Stock Exchange under the ticker CWC. The company is headquartered in London with its operational hub located in Miami, within close proximity to the Caribbean and Latin America.
For more information visit:www.cwc.com.
About CWPCable & Wireless Panama (CWP) is the market leader in mobile, broadband and fixed line services in Panama. The Company's mobile business operates under the brand name +Movil and the other businesses under + internet and +TV Digital in Panama. CWP is also a leading regional player in enterprise and managed services as well as being a leader in carrier services in partnership with our Caribbean business. || Mike Tyson Dives Deeper Into Bitcoin: Former boxing star Mike Tyson is deepening his interest in the bitcoin space by creating a digital bitcoin wallet that will allow users to store, purchase and sell the cryptocurrency. The wallet was developed by Bitcoin Direct in partnership with BitPay and will be one of the first wallets that allows users to buy and sell from inside the app.
Tyson's Bitcoin Projects
This is not Tyson's first foray into the bitcoin space. He partnered with Bitcoin Direct last year to launch a line of bitcoin ATMs that gave people the ability to turn cash into bitcoins at any machine's location. Now, with Tyson endorsing a wallet as well, many are wondering whether or not celebrity attention will drive mainstream usage.
The new wallet will feature Tyson's tribal face tattoo as the background image and is available for download on iOS. An Android version is expected to be released in the coming weeks.
Celebrity Appeal
Bitcoin Direct believes that Tyson's popularity around the world and across several generations makes him a good option to engage the masses,saying that his"potential to expand the Bitcoin market is dramatic." However, it remains unknown whether or not the power of celebrity will be enough to encourage new users.
Safety Still A Concern
Although celebrity endorsements often get products more notoriety, bitcoin itself has struggled with safety and security issues that some believe can't be overcome by a recognizable face. Tyson may bring more attention to the cryptocurrency community, but he may not be able to convince the public that it is trustworthy. Instead, many believe that more regulation is the real key to taking bitcoin mainstream as that would provide users with more protections.
Image credit:Eduardo Merille, Flickr
See more from Benzinga
• Court Case Means Emissions Scandal Isn't Going Away For Volkswagen
• What To Make Of Monday's Market Selloff
• General Motors Kicks Off The Year With A Bang
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Mike Tyson Dives Deeper Into Bitcoin: Former boxing star Mike Tyson is deepening his interest in the bitcoin space by creating a digital bitcoin wallet that will allow users to store, purchase and sell the cryptocurrency. The wallet was developed by Bitcoin Direct in partnership with BitPay and will be one of the first wallets that allows users to buy and sell from inside the app.
Tyson's Bitcoin Projects
This is not Tyson's first foray into the bitcoin space. He partnered with Bitcoin Direct last year to launch a line of bitcoin ATMs that gave people the ability to turn cash into bitcoins at any machine's location. Now, with Tyson endorsing a wallet as well, many are wondering whether or not celebrity attention will drive mainstream usage.
The new wallet will feature Tyson's tribal face tattoo as the background image and is available for download on iOS. An Android version is expected to be released in the coming weeks.
Celebrity Appeal
Bitcoin Direct believes that Tyson's popularity around the world and across several generations makes him a good option to engage the masses,saying that his"potential to expand the Bitcoin market is dramatic." However, it remains unknown whether or not the power of celebrity will be enough to encourage new users.
Safety Still A Concern
Although celebrity endorsements often get products more notoriety, bitcoin itself has struggled with safety and security issues that some believe can't be overcome by a recognizable face. Tyson may bring more attention to the cryptocurrency community, but he may not be able to convince the public that it is trustworthy. Instead, many believe that more regulation is the real key to taking bitcoin mainstream as that would provide users with more protections.
Image credit:Eduardo Merille, Flickr
See more from Benzinga
• Court Case Means Emissions Scandal Isn't Going Away For Volkswagen
• What To Make Of Monday's Market Selloff
• General Motors Kicks Off The Year With A Bang
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Mike Tyson Dives Deeper Into Bitcoin: Former boxing star Mike Tyson is deepening his interest in the bitcoin space by creating a digital bitcoin wallet that will allow users to store, purchase and sell the cryptocurrency. The wallet was developed by Bitcoin Direct in partnership with BitPay and will be one of the first wallets that allows users to buy and sell from inside the app. Tyson's Bitcoin Projects This is not Tyson's first foray into the bitcoin space. He partnered with Bitcoin Direct last year to launch a line of bitcoin ATMs that gave people the ability to turn cash into bitcoins at any machine's location. Now, with Tyson endorsing a wallet as well, many are wondering whether or not celebrity attention will drive mainstream usage. The new wallet will feature Tyson's tribal face tattoo as the background image and is available for download on iOS. An Android version is expected to be released in the coming weeks. Celebrity Appeal Bitcoin Direct believes that Tyson's popularity around the world and across several generations makes him a good option to engage the masses, saying that his "potential to expand the Bitcoin market is dramatic." However, it remains unknown whether or not the power of celebrity will be enough to encourage new users. Safety Still A Concern Although celebrity endorsements often get products more notoriety, bitcoin itself has struggled with safety and security issues that some believe can't be overcome by a recognizable face. Tyson may bring more attention to the cryptocurrency community, but he may not be able to convince the public that it is trustworthy. Instead, many believe that more regulation is the real key to taking bitcoin mainstream as that would provide users with more protections. Image credit: Eduardo Merille , Flickr See more from Benzinga Court Case Means Emissions Scandal Isn't Going Away For Volkswagen What To Make Of Monday's Market Selloff General Motors Kicks Off The Year With A Bang © 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
[Social Media Buzz]
LIVE: Profit = $679.27 (8.09 %). BUY B20.40 @ $420.00 (#VirCurex). SELL @ $445.64 (#Bitfinex) #bitcoin #btc - http://www.projectcoin.org || LIVE: Profit = $687.68 (8.19 %). BUY B20.40 @ $420.00 (#VirCurex). SELL @ $446.08 (#Bitfinex) #bitcoin #btc - http://www.projectcoin.org || LIVE: Profit = $694.52 (8.27 %). BUY B20.40 @ $420.00 (#VirCurex). SELL @ $446.27 (#Bitfinex) #bitcoin #btc - http://www.projectcoin.org || Current price: 302.02£ $BTCGBP $btc #bitcoin 2016-01-12 13:00:04 GMT || $445....
|
432.37, 430.31, 364.33, 387.54, 382.30, 387.17, 380.15, 420.23, 410.26, 382.49
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Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 8930.88, 9697.50, 8845.74, 9281.51, 8987.05, 9348.48, 9419.08, 9240.55, 9119.01, 9235.92, 9743.86, 9700.76, 9858.15, 9654.80, 9373.01, 9234.82, 9325.18, 9043.94, 8441.49, 8504.89, 8723.94, 8716.79, 8510.38, 8368.83, 8094.32, 8250.97, 8247.18, 8513.25, 8418.99, 8041.78, 7557.82, 7587.34, 7480.14, 7355.88, 7368.22, 7135.99, 7472.59, 7406.52, 7494.17, 7541.45, 7643.45, 7720.25, 7514.47, 7633.76, 7653.98, 7678.24, 7624.92, 7531.98, 6786.02, 6906.92, 6582.36, 6349.90, 6675.35, 6456.58, 6550.16, 6499.27, 6734.82, 6769.94, 6776.55, 6729.74, 6083.69, 6162.48, 6173.23, 6249.18, 6093.67, 6157.13, 5903.44, 6218.30, 6404.00, 6385.82, 6614.18, 6529.59, 6597.55, 6639.14, 6673.50, 6856.93, 6773.88, 6741.75, 6329.95, 6394.71, 6228.81, 6238.05, 6276.12, 6359.64, 6741.75, 7321.04, 7370.78, 7466.86, 7354.13, 7419.29.
|
[Bitcoin Technical Analysis for 2018-07-21]
Volume: 3726609920, RSI (14-day): 65.48, 50-day EMA: 6936.99, 200-day EMA: 7915.88
[Wider Market Context]
None available.
[Recent News (last 7 days)]
$8K In Reach? 4 Barriers Await Emboldened Bitcoin Bulls: $8,000? It's not out of the question.
With no price pullback happening in the wake of Tuesday's sudden surge, the technical charts indicate bitcoin could soon close in on this key psychological benchmark.
First, an expectedpullbackwas not without merit (the charts were looking overextended on Tuesday when the 4-hour RSI reached its highest level since 2016), but since Wednesday, the world's largest cryptocurrency has largely consolidated gains in a narrow range between $7,246 and $7,588.
Police Force Confiscates 295 Bitcoins from Criminal in UK First
As the trading range tightens and the technical indicators regain composure, the probability of bullish continuation increases. At press time, the CoinDesk Bitcoin Price Index shows bitcoin is changing hands at $$7484.06up 0.18 percent on a 24-hour basis.
Bitcoin (BTC) has been in a clear consolidation mode since the conclusion of Tuesday's rally, but the daily bias remains bullish. Price is sitting comfortably above the inverse head-and-shoulders neckline ($7,838) and three of the four important exponential moving averages (EMAs) are trending positively â maintaining the bullish view.
The 12-day and 50-day EMAs are nearing a bullish cross while the 100-day EMA is beginning to curve upward, which implies a bullish setup. What's more, the Chaikin Money Flow (CMF), an indicator used to measure buy and sell pressure, is still printing levels in bullish favor.
The 'Dark DAO' Threat: Vote Vulnerability Could Undermine Crypto Elections
A bullish rally will not be an easy feat however since heavy resistance lies in the $7,600-$7,800 range.
The resistance zone includes four strong technical hurdles:
1. Prior price resistance (Early June)
2. 100-day EMA
3. 0.5 Retracement from May high of $9,900
4. Prior pennant support turned resistance.
Another reason for bulls to proceed with caution is the RSI approaching overbought conditions. While the RSI (currently 68) is capable of reaching much higher levels (it hit 93 in December 2017), a level of just 70 halted the previous substantial bullish rally in April.
The hourly chart paints a clearer picture of the post-rally consolidation taking place.
What started as choppy hourly consolidation morphed into a pennant-like structure, composed of a "higher-low, lower-high pattern."
The pennant formation (continuation pattern) supplemented by price sitting above all four hourly EMAs and the 0.382 Fibonacci Retracement (from May high), as well as the hourly RSI beginning to trend upwards, creates a rather clear short-term bullish bias.
As the trading range continues to narrow, the closer BTC is to a breakout. A bullish rally would first likely test the larger pennant resistance (blue line) followed by the upper boundary of the resistance zone mentioned in the daily chart, $7874 (0.5 retracement).
View:
• Bitcoin's consolidation since Wednesday has allowed the overextended short-term indicators to cool off, preparing itself for another move - short-term charts suggest to the upside near $8000.
• If a bearish correction occurs, the rising hourly EMAs should provide a safety net of temporary support.
• The short-term bullish view will only be negated if price finds acceptance below the inverse head-and-shoulders neckline of $7,838.
Â
Â
Disclosure: The author holds BTC, AST, REQ, OMG, FUEL, 1st,Âand AMP at the time of writing.Â
Image via Shutterstock; Charts byÂTrading ViewÂ
• You Can't Ban Math: Crypto Unites to Call Out Congressman
• It Took Just A Day for Tron's Founder to Win His Own Blockchain's Election || $8K In Reach? 4 Barriers Await Emboldened Bitcoin Bulls: $8,000? It's not out of the question.
With no price pullback happening in the wake of Tuesday's sudden surge, the technical charts indicate bitcoin could soon close in on this key psychological benchmark.
First, an expectedpullbackwas not without merit (the charts were looking overextended on Tuesday when the 4-hour RSI reached its highest level since 2016), but since Wednesday, the world's largest cryptocurrency has largely consolidated gains in a narrow range between $7,246 and $7,588.
Police Force Confiscates 295 Bitcoins from Criminal in UK First
As the trading range tightens and the technical indicators regain composure, the probability of bullish continuation increases. At press time, the CoinDesk Bitcoin Price Index shows bitcoin is changing hands at $$7484.06up 0.18 percent on a 24-hour basis.
Bitcoin (BTC) has been in a clear consolidation mode since the conclusion of Tuesday's rally, but the daily bias remains bullish. Price is sitting comfortably above the inverse head-and-shoulders neckline ($7,838) and three of the four important exponential moving averages (EMAs) are trending positively â maintaining the bullish view.
The 12-day and 50-day EMAs are nearing a bullish cross while the 100-day EMA is beginning to curve upward, which implies a bullish setup. What's more, the Chaikin Money Flow (CMF), an indicator used to measure buy and sell pressure, is still printing levels in bullish favor.
The 'Dark DAO' Threat: Vote Vulnerability Could Undermine Crypto Elections
A bullish rally will not be an easy feat however since heavy resistance lies in the $7,600-$7,800 range.
The resistance zone includes four strong technical hurdles:
1. Prior price resistance (Early June)
2. 100-day EMA
3. 0.5 Retracement from May high of $9,900
4. Prior pennant support turned resistance.
Another reason for bulls to proceed with caution is the RSI approaching overbought conditions. While the RSI (currently 68) is capable of reaching much higher levels (it hit 93 in December 2017), a level of just 70 halted the previous substantial bullish rally in April.
The hourly chart paints a clearer picture of the post-rally consolidation taking place.
What started as choppy hourly consolidation morphed into a pennant-like structure, composed of a "higher-low, lower-high pattern."
The pennant formation (continuation pattern) supplemented by price sitting above all four hourly EMAs and the 0.382 Fibonacci Retracement (from May high), as well as the hourly RSI beginning to trend upwards, creates a rather clear short-term bullish bias.
As the trading range continues to narrow, the closer BTC is to a breakout. A bullish rally would first likely test the larger pennant resistance (blue line) followed by the upper boundary of the resistance zone mentioned in the daily chart, $7874 (0.5 retracement).
View:
• Bitcoin's consolidation since Wednesday has allowed the overextended short-term indicators to cool off, preparing itself for another move - short-term charts suggest to the upside near $8000.
• If a bearish correction occurs, the rising hourly EMAs should provide a safety net of temporary support.
• The short-term bullish view will only be negated if price finds acceptance below the inverse head-and-shoulders neckline of $7,838.
Â
Â
Disclosure: The author holds BTC, AST, REQ, OMG, FUEL, 1st,Âand AMP at the time of writing.Â
Image via Shutterstock; Charts byÂTrading ViewÂ
• You Can't Ban Math: Crypto Unites to Call Out Congressman
• It Took Just A Day for Tron's Founder to Win His Own Blockchain's Election || 4 Top Stocks in Semiconductors: Semiconductors form the bedrock of the tech sector. Without new chips, data centers couldn't run, cloud services would fail, and the development of consumer electronics would stall out. That's why the Philadelphia Semiconductor Index, the main benchmark of the growing industry, has more than doubled over the past three years.
However, it can be tough for investors to identify decent semiconductor investments beyond market leaders likeIntelandNVIDIA. So today, let's highlight four other top semiconductor stocks that could deliver big returns.
Image source: Getty Images.
Cypress Semiconductor(NASDAQ: CY)is the market leader in wireless Internet of Things (IoT) chips, NOR and SRAM memory chips, USB-C controllers, and auto instrument cluster microcontrollers. Cypress generates most of its revenue from the automotive and industrial IoT markets, and its "Cypress 3.0" strategy aims to make the chipmaker a one-stop shop for various IoT needs.
The company has three core strengths. First, it dominates niche markets that are largely overlooked by bigger chipmakers. Second, it sells its chips in bundles, which locks in customers and helps it gain content share in cars and industrial machines. Lastly, rising sales of connected cars and the automation of factories should buoy its sales over the long term.
Wall Street expects Cypress' revenue to rise 7% this year as its earnings climb 39%. The stock trades at less than 14x forward earnings and pays a forward yield of 2.7%. Those numbers look solid, but the stock remains weighed down bynear-term concernsabout China and peaking auto sales.
Texas Instruments(NASDAQ: TXN)sells a wide variety of analog and embedded chips for automakers, industrial IoT machinery, and consumer electronics. Over the past few years, the company shifted its production from 200mm to 300mm wafers, which cut its average production costs by about 40%. That's how Texas Instruments continually expanded its margins as many other chipmakers struggled.
The company has two main strengths. First, its focus on low-end analog and embedded chips keeps its margins high, as the company can avoid direct competition with bigger chipmakers. Second, it's so well diversified that it can easily offset slowdowns in one market (like consumer electronics) with growth in other markets (like connected cars and industrial machines).
Analysts expect Texas Instruments' revenue and earnings to rise 7% and 26%, respectively, in 2018. Its stock trades at a reasonable 20x forward earnings, and it pays a forward yield of 2.2%. Shareholders have enjoyed annual payout increases for 14 straight years, which reduced its share count by a whopping 43% during that period.
Image source: Getty Images.
AMD(NASDAQ: AMD)is the second largest manufacturer of x86 CPUs and discrete GPUs in the world. It trails Intel and NVIDIA in those markets, respectively, but its chips are still popular with budget OEMs and consumers. AMD also merges its CPU and GPU technologies in single APU chipsets -- which power the PS4, Xbox One, and various gaming laptops.
AMD's EESC (Enterprise, Embedded, and Semi-Custom) unit, which supplies APUs to console makers, often supports its core business if its CPU and GPU sales waver. Instead of staying in the low-end market, AMD is challenging Intel and NVIDIA with higher-end chips. Its Ryzen chips are alreadyclaiming market sharefrom Intel in desktops, while its new Vega chips won back some market share from NVIDIA during the first quarter, according to research firm JPR.
Many tech analysts seem unsure if AMD can keep landing body blows against its larger, more well-heeled rivals. Nonetheless, they still expect revenue to rise 26% this year as its earnings nearly triple. Those are stellar growth rates, even for a stock that trades at about 35x earnings.
Back in the 1980s,Xilinx(NASDAQ: XLNX)invented a new class of programmable chipsets called FPGAs (field-programmable gate arrays), which could be reprogrammed after being shipped. Today, Xilinx is the world's top maker of FPGAs, which are used across a wide range of industries. Its only meaningful competitor is Intel, which acquired Xilinx's top competitor Altera in 2015.
Xilinx generates its revenue from three core markets -- Communications and Data Center customers; Industrial, Aerospace and Defense customers; and Broadcast, Consumer and Automotive customers. Xilinx's Communications and Data Center market was its weakest one last quarter, but that softness was offset by the double-digit sales growth from the other two segments. Many of its newer chips are used forAI and machine learningtasks.
Wall Street expects Xilinx's revenue to rise 8% this year, and for its earnings -- which dipped on higher expenses last year -- to grow 38%. Xilinx trades at 24x earnings and pays a forward dividend yield of 2.1%. Investors shouldn't buy a stock based on buyout buzz alone, but Xilinx has often been cited as atakeover targetfollowing Intel's takeover of Altera.
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Leo Sunowns shares of Cypress Semiconductor. The Motley Fool owns shares of and recommends Nvidia. The Motley Fool recommends Cypress Semiconductor. The Motley Fool has adisclosure policy. || 4 Top Stocks in Semiconductors: Semiconductors form the bedrock of the tech sector. Without new chips, data centers couldn't run, cloud services would fail, and the development of consumer electronics would stall out. That's why the Philadelphia Semiconductor Index, the main benchmark of the growing industry, has more than doubled over the past three years. However, it can be tough for investors to identify decent semiconductor investments beyond market leaders like Intel and NVIDIA . So today, let's highlight four other top semiconductor stocks that could deliver big returns. Chips being manufactured. Image source: Getty Images. Cypress Semiconductor Cypress Semiconductor (NASDAQ: CY) is the market leader in wireless Internet of Things (IoT) chips, NOR and SRAM memory chips, USB-C controllers, and auto instrument cluster microcontrollers. Cypress generates most of its revenue from the automotive and industrial IoT markets, and its "Cypress 3.0" strategy aims to make the chipmaker a one-stop shop for various IoT needs. The company has three core strengths. First, it dominates niche markets that are largely overlooked by bigger chipmakers. Second, it sells its chips in bundles, which locks in customers and helps it gain content share in cars and industrial machines. Lastly, rising sales of connected cars and the automation of factories should buoy its sales over the long term. Wall Street expects Cypress' revenue to rise 7% this year as its earnings climb 39%. The stock trades at less than 14x forward earnings and pays a forward yield of 2.7%. Those numbers look solid, but the stock remains weighed down by near-term concerns about China and peaking auto sales. Texas Instruments Texas Instruments (NASDAQ: TXN) sells a wide variety of analog and embedded chips for automakers, industrial IoT machinery, and consumer electronics. Over the past few years, the company shifted its production from 200mm to 300mm wafers, which cut its average production costs by about 40%. That's how Texas Instruments continually expanded its margins as many other chipmakers struggled. Story continues The company has two main strengths. First, its focus on low-end analog and embedded chips keeps its margins high, as the company can avoid direct competition with bigger chipmakers. Second, it's so well diversified that it can easily offset slowdowns in one market (like consumer electronics) with growth in other markets (like connected cars and industrial machines). Analysts expect Texas Instruments' revenue and earnings to rise 7% and 26%, respectively, in 2018. Its stock trades at a reasonable 20x forward earnings, and it pays a forward yield of 2.2%. Shareholders have enjoyed annual payout increases for 14 straight years, which reduced its share count by a whopping 43% during that period. A worker uses a laptop to control an automated factory. Image source: Getty Images. AMD AMD (NASDAQ: AMD) is the second largest manufacturer of x86 CPUs and discrete GPUs in the world. It trails Intel and NVIDIA in those markets, respectively, but its chips are still popular with budget OEMs and consumers. AMD also merges its CPU and GPU technologies in single APU chipsets -- which power the PS4, Xbox One, and various gaming laptops. AMD's EESC (Enterprise, Embedded, and Semi-Custom) unit, which supplies APUs to console makers, often supports its core business if its CPU and GPU sales waver. Instead of staying in the low-end market, AMD is challenging Intel and NVIDIA with higher-end chips. Its Ryzen chips are already claiming market share from Intel in desktops, while its new Vega chips won back some market share from NVIDIA during the first quarter, according to research firm JPR. Many tech analysts seem unsure if AMD can keep landing body blows against its larger, more well-heeled rivals. Nonetheless, they still expect revenue to rise 26% this year as its earnings nearly triple. Those are stellar growth rates, even for a stock that trades at about 35x earnings. Xilinx Back in the 1980s, Xilinx (NASDAQ: XLNX) invented a new class of programmable chipsets called FPGAs (field-programmable gate arrays), which could be reprogrammed after being shipped. Today, Xilinx is the world's top maker of FPGAs, which are used across a wide range of industries. Its only meaningful competitor is Intel, which acquired Xilinx's top competitor Altera in 2015. Xilinx generates its revenue from three core markets -- Communications and Data Center customers; Industrial, Aerospace and Defense customers; and Broadcast, Consumer and Automotive customers. Xilinx's Communications and Data Center market was its weakest one last quarter, but that softness was offset by the double-digit sales growth from the other two segments. Many of its newer chips are used for AI and machine learning tasks. Wall Street expects Xilinx's revenue to rise 8% this year, and for its earnings -- which dipped on higher expenses last year -- to grow 38%. Xilinx trades at 24x earnings and pays a forward dividend yield of 2.1%. Investors shouldn't buy a stock based on buyout buzz alone, but Xilinx has often been cited as a takeover target following Intel's takeover of Altera. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Leo Sun owns shares of Cypress Semiconductor. The Motley Fool owns shares of and recommends Nvidia. The Motley Fool recommends Cypress Semiconductor. The Motley Fool has a disclosure policy . || The 5 Nearest Funds to Bitcoin ETFs You Can Buy: The holy grail of the exchange-traded fund (ETF) landscape, at least in recent years, is the bitcoin ETF. It has been several years since the Winklevoss brothers tried to bring the Winklevoss Bitcoin Trust to life, but to date, the Securities and Exchange Commission hasyet to approve a bitcoin ETF.
Still, efforts are ongoing to bring a bitcoin ETF to market in the U.S. For their part, the Winklevoss brothers are not giving up. Earlier this year, theU.S. Patent Officegranted the Winklevoss brothers an IP patent to potentially operate exchange-traded products linked to cryptocurrencies.
More recently, ETF issuer VanEck and fintech company SolidX filed plans for theVanEck SolidX Bitcoin Trust ETF (XBTC). However, that bitcoin ETF, assuming it even comes to life, would not be attainable by the masses. The VanEck SolidX Bitcoin Trust ETF would be reserved for institutional investors as it is expected to debut, if approved, with a price tag of $200,000.
InvestorPlace - Stock Market News, Stock Advice & Trading Tips
There is no denying that the demand is there for bitcoin ETFs, meaning that if bitcoin ETFs ever see the light of day, some of the products would likely be successful and the price of the largest digital currency would surge as a result.
Demand is so intense for a bitcoin ETF that during the recently opened comment period for Cboe Global Markets’ effort to list a bitcoin ETF, investors are literally clogging up theSEC’s email systemclamoring for a bitcoin ETF.
• 10 Dow Jones Titans to Buy Now
Until real bitcoin ETFs are approved, U.S. investors will have to make do with the following alternatives:
Expense Ratio:0.02% annually, or $200 per $10,000 investment.
TheGrayscale Bitcoin Investment Trust(OTCMKTS:GBTC), which is nearly five years old, “enables investors to gain exposure to the price movement of bitcoin through a traditional investment vehicle, without the challenges of buying, storing, and safekeeping bitcoins,”according to Grayscale.
The $1.13 billion GBTC represents fractional ownership in bitcoin. To be precise, one share of GBTC is equivalent to owning 0.00099 bitcoin.
As its name implies, GBTC is structured as a trust, not a proper bitcoin ETF. Most ETFs are regulated under the Investment Company Act of 1940 (1940 Act), but that is not the structure applicable to GBTC.
Expense Ratio:0.75%
TheARK Web x.0 ETF(NYSEARCA:ARKW) hails from a family of funds focusing on disruptive, next-generation technologies andseveral ARK fundshave recently been stellar performers. That includes ARKW, which was one of 2017’s best-performing non-leveraged ETFs with a gain of 87.3%.
Bitcoin was a big reason why, even though ARKW is not a bitcoin. ARKW surged last year because one of its largest holdings was the aforementioned GBTC.
• 7 Reasons AT&T Is Going to Blow the Time Warner Merger
Fortunately for investors, ARKW is actively managed and the fund took profits in GBTC. These days, GBTC is a barely noticeable holding in the ARK fund, but ARKW is up more than 27% year-to-date as bitcoin prices have swooned.
Expense Ratio:0.68%
In lieu of real bitcoin ETFs, blockchain ETFs are a decent alternative. Blockchain ETFs are not regulated to the degree that bitcoin ETFs are, but theSEC does preventfund issuers from actually using the term “blockchain” in fund names.
TheReality Shares Nasdaq NexGen Economy ETF(NASDAQ:BLCN) debuted in January, but it is one of the first two blockchain ETFs to launch in the U.S. BLCN tracks the Reality Shares Nasdaq Blockchain Economy Index, which gauges “the returns of companies that are committing material resources to developing, researching, supporting, innovating or utilizing blockchain technology for their use or for use by others,”according to the issuer.
Again, BLCN is not a bitcoin ETF, but the issuer recognizes the opportunity set for blockchain investing as it pertains to cryptocurrencies because members of BLCN’s advisory have extensive digital currency experience.
BLCN holdings includeMicrosoft(NASDAQ:MSFT),Intel(NASDAQ:INTC) andSquare Inc(NYSE:SQ).
Expense Ratio:0.78%
TheReality Shares Nasdaq NexGen Economy China ETF(NASDAQ:BCNA) is the newest member of the blockchain ETF fray, having debuted about a month ago as the first ETF focused on Chinese blockchain investment opportunities.
Obviously, BCNA is not a bitcoin ETF, but the opportunity set is potentially lucrative. Earlier this year, the Peoples Bank of China (PBoC) revealed plans for its own digital currency, DCEP (Digital Currency for Electronic Payment). Additionally, in 2017, China filed for more blockchain-related patents than any other country in the world.
BCNA follows the Reality Shares Nasdaq Blockchain China Index, which “is designed to measure the returns of companies in China that are committing material resources to developing, researching, supporting, innovating or utilizing blockchain technology for their use or for use by others,”according to Reality Shares.
• 4 Cyclical Stocks to Buy Now
The ETF holds 31 stocks, about three-quarters of which are technology or financial services names.
Expense Ratio:0.02%
This is not a bitcoin ETF, either, but it is relatively close. The thing is the Coinbase Index Fund, which recently debuted, is literally not for everyone. This is not your run-of-the-mill index. The 2% annual fee gives that away and the Coinbase Index Fund requires a minimum investment of $250,000.
The Coinbase Index Fund tracks the assets currently available on Coinbase, one of the largest digital currency exchanges. Currently, that list includes bitcoin, ethereum, bitcoin cash and litecoin.
Again, this is not a bitcoin ETF, but bitcoin represents nearly two-thirds of the fund’s weight.
Discovered almost by accident, Louis Navellier’s incredible trading breakthrough has delivered 148 double- and triple-digit winners over the past 5 years — including a stunning 487% win in just 10 months.
Learn to use this formula and you can start turning every $10,000 investedinto as much as $58,700.
Click hereto review Louis’ urgent presentation.
As of this writing, Todd Shriber did not hold a position in any of the aforementioned securities.
Compare Brokers
The postThe 5 Nearest Funds to Bitcoin ETFs You Can Buyappeared first onInvestorPlace. || The 5 Nearest Funds to Bitcoin ETFs You Can Buy: The holy grail of the exchange-traded fund (ETF) landscape, at least in recent years, is the bitcoin ETF. It has been several years since the Winklevoss brothers tried to bring the Winklevoss Bitcoin Trust to life, but to date, the Securities and Exchange Commission has yet to approve a bitcoin ETF . Still, efforts are ongoing to bring a bitcoin ETF to market in the U.S. For their part, the Winklevoss brothers are not giving up. Earlier this year, the U.S. Patent Office granted the Winklevoss brothers an IP patent to potentially operate exchange-traded products linked to cryptocurrencies. More recently, ETF issuer VanEck and fintech company SolidX filed plans for the VanEck SolidX Bitcoin Trust ETF (XBTC) . However, that bitcoin ETF, assuming it even comes to life, would not be attainable by the masses. The VanEck SolidX Bitcoin Trust ETF would be reserved for institutional investors as it is expected to debut, if approved, with a price tag of $200,000. InvestorPlace - Stock Market News, Stock Advice & Trading Tips There is no denying that the demand is there for bitcoin ETFs, meaning that if bitcoin ETFs ever see the light of day, some of the products would likely be successful and the price of the largest digital currency would surge as a result. Demand is so intense for a bitcoin ETF that during the recently opened comment period for Cboe Global Markets effort to list a bitcoin ETF, investors are literally clogging up the SECs email system clamoring for a bitcoin ETF. 10 Dow Jones Titans to Buy Now Until real bitcoin ETFs are approved, U.S. investors will have to make do with the following alternatives: Bitcoin ETFs: Grayscale Bitcoin Investment Trust (GBTC) Expense Ratio: 0.02% annually, or $200 per $10,000 investment. The Grayscale Bitcoin Investment Trust (OTCMKTS: GBTC ), which is nearly five years old, enables investors to gain exposure to the price movement of bitcoin through a traditional investment vehicle, without the challenges of buying, storing, and safekeeping bitcoins, according to Grayscale . Story continues The $1.13 billion GBTC represents fractional ownership in bitcoin. To be precise, one share of GBTC is equivalent to owning 0.00099 bitcoin. As its name implies, GBTC is structured as a trust, not a proper bitcoin ETF. Most ETFs are regulated under the Investment Company Act of 1940 (1940 Act), but that is not the structure applicable to GBTC. Bitcoin ETFs: ARK Web x.0 ETF (ARKW) Expense Ratio: 0.75% The ARK Web x.0 ETF (NYSEARCA: ARKW ) hails from a family of funds focusing on disruptive, next-generation technologies and several ARK funds have recently been stellar performers. That includes ARKW, which was one of 2017s best-performing non-leveraged ETFs with a gain of 87.3%. Bitcoin was a big reason why, even though ARKW is not a bitcoin. ARKW surged last year because one of its largest holdings was the aforementioned GBTC. 7 Reasons AT&T Is Going to Blow the Time Warner Merger Fortunately for investors, ARKW is actively managed and the fund took profits in GBTC. These days, GBTC is a barely noticeable holding in the ARK fund, but ARKW is up more than 27% year-to-date as bitcoin prices have swooned. Bitcoin ETFs: Reality Shares Nasdaq NexGen Economy ETF (BLCN) Expense Ratio: 0.68% In lieu of real bitcoin ETFs, blockchain ETFs are a decent alternative. Blockchain ETFs are not regulated to the degree that bitcoin ETFs are, but the SEC does prevent fund issuers from actually using the term blockchain in fund names. The Reality Shares Nasdaq NexGen Economy ETF (NASDAQ: BLCN ) debuted in January, but it is one of the first two blockchain ETFs to launch in the U.S. BLCN tracks the Reality Shares Nasdaq Blockchain Economy Index, which gauges the returns of companies that are committing material resources to developing, researching, supporting, innovating or utilizing blockchain technology for their use or for use by others, according to the issuer . Again, BLCN is not a bitcoin ETF, but the issuer recognizes the opportunity set for blockchain investing as it pertains to cryptocurrencies because members of BLCNs advisory have extensive digital currency experience. BLCN holdings include Microsoft (NASDAQ: MSFT ), Intel (NASDAQ: INTC ) and Square Inc (NYSE: SQ ). Bitcoin ETFs: Reality Shares Nasdaq NexGen Economy China ETF (BCNA) Expense Ratio: 0.78% The Reality Shares Nasdaq NexGen Economy China ETF (NASDAQ: BCNA ) is the newest member of the blockchain ETF fray, having debuted about a month ago as the first ETF focused on Chinese blockchain investment opportunities. Obviously, BCNA is not a bitcoin ETF, but the opportunity set is potentially lucrative. Earlier this year, the Peoples Bank of China (PBoC) revealed plans for its own digital currency, DCEP (Digital Currency for Electronic Payment). Additionally, in 2017, China filed for more blockchain-related patents than any other country in the world. BCNA follows the Reality Shares Nasdaq Blockchain China Index, which is designed to measure the returns of companies in China that are committing material resources to developing, researching, supporting, innovating or utilizing blockchain technology for their use or for use by others, according to Reality Shares . 4 Cyclical Stocks to Buy Now The ETF holds 31 stocks, about three-quarters of which are technology or financial services names. Bitcoin ETFs: Coinbase Index Fund Expense Ratio: 0.02% This is not a bitcoin ETF, either, but it is relatively close. The thing is the Coinbase Index Fund, which recently debuted, is literally not for everyone. This is not your run-of-the-mill index. The 2% annual fee gives that away and the Coinbase Index Fund requires a minimum investment of $250,000. The Coinbase Index Fund tracks the assets currently available on Coinbase, one of the largest digital currency exchanges. Currently, that list includes bitcoin, ethereum, bitcoin cash and litecoin. Again, this is not a bitcoin ETF, but bitcoin represents nearly two-thirds of the funds weight. Legendary Investor Louis Navelliers Trading Breakthrough Discovered almost by accident, Louis Navelliers incredible trading breakthrough has delivered 148 double- and triple-digit winners over the past 5 years including a stunning 487% win in just 10 months. Learn to use this formula and you can start turning every $10,000 invested into as much as $58,700 . Click here to review Louis urgent presentation. As of this writing, Todd Shriber did not hold a position in any of the aforementioned securities. Compare Brokers The post The 5 Nearest Funds to Bitcoin ETFs You Can Buy appeared first on InvestorPlace . || The 5 Nearest Funds to Bitcoin ETFs You Can Buy: The holy grail of the exchange-traded fund (ETF) landscape, at least in recent years, is the bitcoin ETF. It has been several years since the Winklevoss brothers tried to bring the Winklevoss Bitcoin Trust to life, but to date, the Securities and Exchange Commission hasyet to approve a bitcoin ETF.
Still, efforts are ongoing to bring a bitcoin ETF to market in the U.S. For their part, the Winklevoss brothers are not giving up. Earlier this year, theU.S. Patent Officegranted the Winklevoss brothers an IP patent to potentially operate exchange-traded products linked to cryptocurrencies.
More recently, ETF issuer VanEck and fintech company SolidX filed plans for theVanEck SolidX Bitcoin Trust ETF (XBTC). However, that bitcoin ETF, assuming it even comes to life, would not be attainable by the masses. The VanEck SolidX Bitcoin Trust ETF would be reserved for institutional investors as it is expected to debut, if approved, with a price tag of $200,000.
InvestorPlace - Stock Market News, Stock Advice & Trading Tips
There is no denying that the demand is there for bitcoin ETFs, meaning that if bitcoin ETFs ever see the light of day, some of the products would likely be successful and the price of the largest digital currency would surge as a result.
Demand is so intense for a bitcoin ETF that during the recently opened comment period for Cboe Global Markets’ effort to list a bitcoin ETF, investors are literally clogging up theSEC’s email systemclamoring for a bitcoin ETF.
• 10 Dow Jones Titans to Buy Now
Until real bitcoin ETFs are approved, U.S. investors will have to make do with the following alternatives:
Expense Ratio:0.02% annually, or $200 per $10,000 investment.
TheGrayscale Bitcoin Investment Trust(OTCMKTS:GBTC), which is nearly five years old, “enables investors to gain exposure to the price movement of bitcoin through a traditional investment vehicle, without the challenges of buying, storing, and safekeeping bitcoins,”according to Grayscale.
The $1.13 billion GBTC represents fractional ownership in bitcoin. To be precise, one share of GBTC is equivalent to owning 0.00099 bitcoin.
As its name implies, GBTC is structured as a trust, not a proper bitcoin ETF. Most ETFs are regulated under the Investment Company Act of 1940 (1940 Act), but that is not the structure applicable to GBTC.
Expense Ratio:0.75%
TheARK Web x.0 ETF(NYSEARCA:ARKW) hails from a family of funds focusing on disruptive, next-generation technologies andseveral ARK fundshave recently been stellar performers. That includes ARKW, which was one of 2017’s best-performing non-leveraged ETFs with a gain of 87.3%.
Bitcoin was a big reason why, even though ARKW is not a bitcoin. ARKW surged last year because one of its largest holdings was the aforementioned GBTC.
• 7 Reasons AT&T Is Going to Blow the Time Warner Merger
Fortunately for investors, ARKW is actively managed and the fund took profits in GBTC. These days, GBTC is a barely noticeable holding in the ARK fund, but ARKW is up more than 27% year-to-date as bitcoin prices have swooned.
Expense Ratio:0.68%
In lieu of real bitcoin ETFs, blockchain ETFs are a decent alternative. Blockchain ETFs are not regulated to the degree that bitcoin ETFs are, but theSEC does preventfund issuers from actually using the term “blockchain” in fund names.
TheReality Shares Nasdaq NexGen Economy ETF(NASDAQ:BLCN) debuted in January, but it is one of the first two blockchain ETFs to launch in the U.S. BLCN tracks the Reality Shares Nasdaq Blockchain Economy Index, which gauges “the returns of companies that are committing material resources to developing, researching, supporting, innovating or utilizing blockchain technology for their use or for use by others,”according to the issuer.
Again, BLCN is not a bitcoin ETF, but the issuer recognizes the opportunity set for blockchain investing as it pertains to cryptocurrencies because members of BLCN’s advisory have extensive digital currency experience.
BLCN holdings includeMicrosoft(NASDAQ:MSFT),Intel(NASDAQ:INTC) andSquare Inc(NYSE:SQ).
Expense Ratio:0.78%
TheReality Shares Nasdaq NexGen Economy China ETF(NASDAQ:BCNA) is the newest member of the blockchain ETF fray, having debuted about a month ago as the first ETF focused on Chinese blockchain investment opportunities.
Obviously, BCNA is not a bitcoin ETF, but the opportunity set is potentially lucrative. Earlier this year, the Peoples Bank of China (PBoC) revealed plans for its own digital currency, DCEP (Digital Currency for Electronic Payment). Additionally, in 2017, China filed for more blockchain-related patents than any other country in the world.
BCNA follows the Reality Shares Nasdaq Blockchain China Index, which “is designed to measure the returns of companies in China that are committing material resources to developing, researching, supporting, innovating or utilizing blockchain technology for their use or for use by others,”according to Reality Shares.
• 4 Cyclical Stocks to Buy Now
The ETF holds 31 stocks, about three-quarters of which are technology or financial services names.
Expense Ratio:0.02%
This is not a bitcoin ETF, either, but it is relatively close. The thing is the Coinbase Index Fund, which recently debuted, is literally not for everyone. This is not your run-of-the-mill index. The 2% annual fee gives that away and the Coinbase Index Fund requires a minimum investment of $250,000.
The Coinbase Index Fund tracks the assets currently available on Coinbase, one of the largest digital currency exchanges. Currently, that list includes bitcoin, ethereum, bitcoin cash and litecoin.
Again, this is not a bitcoin ETF, but bitcoin represents nearly two-thirds of the fund’s weight.
Discovered almost by accident, Louis Navellier’s incredible trading breakthrough has delivered 148 double- and triple-digit winners over the past 5 years — including a stunning 487% win in just 10 months.
Learn to use this formula and you can start turning every $10,000 investedinto as much as $58,700.
Click hereto review Louis’ urgent presentation.
As of this writing, Todd Shriber did not hold a position in any of the aforementioned securities.
Compare Brokers
The postThe 5 Nearest Funds to Bitcoin ETFs You Can Buyappeared first onInvestorPlace. || China’s Small-Time Bitcoin Miners Exposed By Flooding In Sichuan Province: The largest concentration of small-scale Bitcoin (BTC-USD) miners in the world has been exposed following the floods which recently swept across the Sichuan province in China. A report focusing on the floods revealed an interesting story of how the residents of the said Chinese region exhibit perseverance even in times of trouble and discomfort.
A significant portion of the hash rate on the Bitcoin network has since been lost, following the floods. This occurred since a lot of mining equipment that was stored in various makeshift farms in the area was destroyed.
China hosts 70% of the hash rate
The report disclosed that mining rigs totaling over 5 million are hosted in the Sichuan province. There have been claims that approximately 70% of the hash rate on Bitcoin’s network comes from China. And 70% of that is located in the mountainous region of Sichuan.
The recent floods led to the discovery of about 250,000 people who live secluded in the region. They live a lonely life, only surrounded by ASIC mining rigs, which are claimed to be in the thousands.
Li Yang is one of the residents of this secluded mountainous region. Since the area is surrounded by 20 hydropower installations, the miners enjoy a cheap rate of electricity.
Yang’s description signifies a lonely life devoid of human interaction. The only solace he has is games and WeChat since he is only surrounded by mining machines. He confessed to being only frightened by loneliness and a power outage.
Low electricity cost
Since the hydropower stations are installed along the Lancang River basin passing through the region, electricity costs as low as 0.08 Yuan per kWh, during periods of high water. This is caused by the fact that the power stations have too much electricity that cannot be used.
Mining rigs totaling tens of thousands were destroyed by the floods rendering thousands of Bitcoin miners jobless. Li is counting losses to the tune of 10 million Yuan in lost revenue as well as equipment. About 20,000 machines have been lost leading to a 100-million-Yuan loss.
In 2017, Li quit his job at Apple and relocated to Sichuan. Attracted to the simple mining business, he opened his own crypto mine close to a hydropower station. Li reveals that operating a mining pool is expensive hence, customers host mining machines after paying for them.
The postChina’s Small-Time Bitcoin Miners Exposed By Flooding In Sichuan Provinceappeared first onMarket Exclusive. || Chinas Small-Time Bitcoin Miners Exposed By Flooding In Sichuan Province: The largest concentration of small-scale Bitcoin ( BTC-USD ) miners in the world has been exposed following the floods which recently swept across the Sichuan province in China. A report focusing on the floods revealed an interesting story of how the residents of the said Chinese region exhibit perseverance even in times of trouble and discomfort. A significant portion of the hash rate on the Bitcoin network has since been lost, following the floods. This occurred since a lot of mining equipment that was stored in various makeshift farms in the area was destroyed. China hosts 70% of the hash rate The report disclosed that mining rigs totaling over 5 million are hosted in the Sichuan province. There have been claims that approximately 70% of the hash rate on Bitcoins network comes from China. And 70% of that is located in the mountainous region of Sichuan. The recent floods led to the discovery of about 250,000 people who live secluded in the region. They live a lonely life, only surrounded by ASIC mining rigs, which are claimed to be in the thousands. Li Yang is one of the residents of this secluded mountainous region. Since the area is surrounded by 20 hydropower installations, the miners enjoy a cheap rate of electricity. Yangs description signifies a lonely life devoid of human interaction. The only solace he has is games and WeChat since he is only surrounded by mining machines. He confessed to being only frightened by loneliness and a power outage. Low electricity cost Since the hydropower stations are installed along the Lancang River basin passing through the region, electricity costs as low as 0.08 Yuan per kWh, during periods of high water. This is caused by the fact that the power stations have too much electricity that cannot be used. Mining rigs totaling tens of thousands were destroyed by the floods rendering thousands of Bitcoin miners jobless. Li is counting losses to the tune of 10 million Yuan in lost revenue as well as equipment. About 20,000 machines have been lost leading to a 100-million-Yuan loss. In 2017, Li quit his job at Apple and relocated to Sichuan. Attracted to the simple mining business, he opened his own crypto mine close to a hydropower station. Li reveals that operating a mining pool is expensive hence, customers host mining machines after paying for them. The post Chinas Small-Time Bitcoin Miners Exposed By Flooding In Sichuan Province appeared first on Market Exclusive . || China’s Small-Time Bitcoin Miners Exposed By Flooding In Sichuan Province: The largest concentration of small-scale Bitcoin (BTC-USD) miners in the world has been exposed following the floods which recently swept across the Sichuan province in China. A report focusing on the floods revealed an interesting story of how the residents of the said Chinese region exhibit perseverance even in times of trouble and discomfort.
A significant portion of the hash rate on the Bitcoin network has since been lost, following the floods. This occurred since a lot of mining equipment that was stored in various makeshift farms in the area was destroyed.
China hosts 70% of the hash rate
The report disclosed that mining rigs totaling over 5 million are hosted in the Sichuan province. There have been claims that approximately 70% of the hash rate on Bitcoin’s network comes from China. And 70% of that is located in the mountainous region of Sichuan.
The recent floods led to the discovery of about 250,000 people who live secluded in the region. They live a lonely life, only surrounded by ASIC mining rigs, which are claimed to be in the thousands.
Li Yang is one of the residents of this secluded mountainous region. Since the area is surrounded by 20 hydropower installations, the miners enjoy a cheap rate of electricity.
Yang’s description signifies a lonely life devoid of human interaction. The only solace he has is games and WeChat since he is only surrounded by mining machines. He confessed to being only frightened by loneliness and a power outage.
Low electricity cost
Since the hydropower stations are installed along the Lancang River basin passing through the region, electricity costs as low as 0.08 Yuan per kWh, during periods of high water. This is caused by the fact that the power stations have too much electricity that cannot be used.
Mining rigs totaling tens of thousands were destroyed by the floods rendering thousands of Bitcoin miners jobless. Li is counting losses to the tune of 10 million Yuan in lost revenue as well as equipment. About 20,000 machines have been lost leading to a 100-million-Yuan loss.
In 2017, Li quit his job at Apple and relocated to Sichuan. Attracted to the simple mining business, he opened his own crypto mine close to a hydropower station. Li reveals that operating a mining pool is expensive hence, customers host mining machines after paying for them.
The postChina’s Small-Time Bitcoin Miners Exposed By Flooding In Sichuan Provinceappeared first onMarket Exclusive. || Crypto Prices Mixed; Powell Says Digital Money Not likely to pose a Threat: Investing.com – Cryptocurrencies prices were mixed on Friday, with Bitcoin trading slightly below the $7,500 mark after a rally earlier this week.
Bitcoin was trading at $7,456.8 by 12:31AM ET (04:31 GMT) on the Bitfinex exchange, up 1.8% in the last 24 hours.
Ethereum, the world’s second largest cryptocurrency by market cap, lost 2.1% to $465.5 on the Bitifinex exchange.
XRP/USD’s XRP token was down 2.4% to $0.46670 on the Poloniex exchange.
Meanwhile, Litecoin slipped 0.6% and traded at $85.763.
Federal Reserve Chairman Jerome Powell said on Wednesday that cryptocurrencies-related concerns are not his priority at the moment. The cryptocurrency market, estimated to be valued at around $300 billion, is not big enough to pose a threat, and the U.S. central bank isn’t looking to regulate it, Powell said during the testimony on Wednesday.
Powell then clarified that while the Fed has said in the past that it would monitoring the development of cryptocurrencies, it does not have jurisdiction over them, and is not currently looking to to provide oversight. He added that the Securities and Exchange Commission and Commodity Futures Trading Commission, as well as state authorities would continue to oversee crypto-related businesses.
In other news, U.S. Congressman Brad Sherman’s comment raised some eyebrows as he called for an investigation of the crypto industry and said that the U.S. should prohibit its citizens from buying or mining cryptocurrencies. He claimed, not for the first time, that other than crypto being used by criminals and potential tax evaders, it could also be used by rogue states that sought to bypass sanctions by the US government.
He made his comments during a subcommittee hearing on Wednesday.
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Japan: Internal Affairs Minister Denies Involvement in Crypto-Related Gov’t Investigation
Chip Manufacturer Cuts Revenue Forecast Due to Weak Demand for Crypto Miners, Again
HSBC Global Head of Digital Says the Bank Is ‘Cautiously Looking’ at Crypto Investment || Crypto Prices Mixed; Powell Says Digital Money Not likely to pose a Threat: Cryptocurrencies prices were mixed on Friday Investing.com – Cryptocurrencies prices were mixed on Friday, with Bitcoin trading slightly below the $7,500 mark after a rally earlier this week. Bitcoin was trading at $7,456.8 by 12:31AM ET (04:31 GMT) on the Bitfinex exchange, up 1.8% in the last 24 hours. Ethereum, the world’s second largest cryptocurrency by market cap, lost 2.1% to $465.5 on the Bitifinex exchange. XRP/USD’s XRP token was down 2.4% to $0.46670 on the Poloniex exchange. Meanwhile, Litecoin slipped 0.6% and traded at $85.763. Federal Reserve Chairman Jerome Powell said on Wednesday that cryptocurrencies-related concerns are not his priority at the moment. The cryptocurrency market, estimated to be valued at around $300 billion, is not big enough to pose a threat, and the U.S. central bank isn’t looking to regulate it, Powell said during the testimony on Wednesday. Powell then clarified that while the Fed has said in the past that it would monitoring the development of cryptocurrencies, it does not have jurisdiction over them, and is not currently looking to to provide oversight. He added that the Securities and Exchange Commission and Commodity Futures Trading Commission, as well as state authorities would continue to oversee crypto-related businesses. In other news, U.S. Congressman Brad Sherman’s comment raised some eyebrows as he called for an investigation of the crypto industry and said that the U.S. should prohibit its citizens from buying or mining cryptocurrencies. He claimed, not for the first time, that other than crypto being used by criminals and potential tax evaders, it could also be used by rogue states that sought to bypass sanctions by the US government. He made his comments during a subcommittee hearing on Wednesday. Related Articles Japan: Internal Affairs Minister Denies Involvement in Crypto-Related Gov’t Investigation Chip Manufacturer Cuts Revenue Forecast Due to Weak Demand for Crypto Miners, Again HSBC Global Head of Digital Says the Bank Is ‘Cautiously Looking’ at Crypto Investment || Bitcoin Cash, Litecoin and Ripple Daily Analysis 20/07/18: Bitcoin Cash in Reverse Bitcoin Cash slipped by 0.24% on Thursday, following Wednesdays 3.33% slide, to end the day at $822.4. A range bound start to the day saw Bitcoin Cash pullback to an intraday low $805.5 in the early hours, holding above the first major support level at $803.6, before hitting an intraday high $845 by mid-day. The mid-day rally left Bitcoin short of the first major resistance level at $875.1 and more importantly $900 levels and the 23.6% FIB Retracement Level of $930, with the afternoon pullback to $820 levels leaving the extended bearish trend intact. At the time of writing, Bitcoin Cash was down 1.61% to $810.8, with a start of the day pullback to an intraday low $806.7 doing the damage early on, while managing to steer clear of the first major support level at $803.6. For the day ahead a move through a start of the day $823.9 high to $824 levels would support a run at the first major resistance level at $843.1, while we can expect Bitcoin Cash to face plenty of resistance on attempts to break out from the first major resistance level, which would leave $900 levels out of play for the day. Failure to move back through to the mornings high could see Bitcoin Cash pullback later in the day to test the first major support level at $803.6 before any recovery, sub-$800 support levels likely to be left untested through the day. {alt} Get Into Bitcoin Cash Trading Today Litecoin Steadier Than the Pack Litecoin slipped by just 0.17% on Thursday, following Wednesdays 3.16% slide, to end the day at $86.13. Following Tuesdays late reversal, Litecoin moved from a start of the day intraday low $85.01 to middle of the day intraday high $88.9, before easing back to $86 levels, the moves through the day leaving the major support and resistance levels untested. In spite of the relatively range bound day, Litecoin failed to break through to $90 levels to leave the extended bearish trend intact, the 23.6% FIB Retracement Level of $98 some way off. Story continues At the time of writing, Litecoin was down 0.95% to $85.32, with a early fall to a morning low $84.71 seeing Litecoin hold just above the first major support level a $84.46 before recovering to $85 levels, a start of the day high $86.14 sitting well below the first major resistance level at $88.35 and $90 levels, which remains the key level for Litecoin. For the day ahead, a move through to $86.68 would support a run at the first major resistance level at $88.35, though we will expect Litecoin to continue to fall short of $90 levels through the day, with the 23.6% FIB Retracement Level of $98 needed to be reached to begin a bearish trend reversal. Failure to move back through to $86 levels later in the day could see Litecoin pullback through to $84 levels to test the days first major support level at $84.46, with the second major support level at 82.79 in play should sentiment not improve, while we will expect Litecoin to continue to hold on to $80 levels by the days end. {alt} Buy & Sell Cryptocurrency Instantly Ripple on the Slide Ripples XRP fell by 2.1% on Thursday, following Wednesdays 4.12% slide, to end the day at $0.47793. A morning recovery from late Tuesdays sell-off saw Ripples XRP move through to an intraday high $0.49674 in the early afternoon before going into reverse through the remainder of the day, the days high falling short of $0.5 levels and well short of the first major resistance level at $0.5203. The afternoon reversal saw Ripples XRP slide to an intraday low $0.4708 before steadying, the days low holding above the first major support level at $0.4648, with the continued failure to take a run at the 23.6% FIB Retracement Level of $0.5528 leaving the extended bearish trend intact. At the time of writing, Ripples XRP was down 3.33% to $0.46196 in whats been a bearish start to the day, Ripples XRP falling through the first major support level at $0.4669 to a morning low $0.46016, a start of the day $0.478 falling well short of the first major resistance level at $0.4928. For the day ahead, a move through to $0.4818 would support a run at the first major resistance level at $0.4928, while we will expect $0.50 levels and the 23.6% FIB Retracement Level of $0.5528 to remain out of reach for the day. Failure to move back through to $0.48 levels could see Ripples XRP pullback to $0.45 levels to test the second major support level at $0.4559 before any recovery to $0.47 levels, the extended bearish trend firmly intact going into the weekend. {alt} Buy & Sell Cryptocurrency Instantly This article was originally posted on FX Empire More From FXEMPIRE: Bitcoin The Bears Are Looking to Step In Bitcoin Cash, Litecoin and Ripple Daily Analysis 20/07/18 Precious Metals Hover Near One-Year Lows As Dollar Faces Pressure Post Trumps Comment Natural Gas Price Fundamental Daily Forecast Short-Covering Rally Could Strengthen Over $2.743 EUR/USD Daily Price Forecast EUR/USD Back at 1.165 Handle as Dollar Goes on Defensive Post Trumps Comment Forex Daily Outlook July 20, 2018 || Bitcoin Cash, Litecoin and Ripple Daily Analysis – 20/07/18: Bitcoin Cash slipped by 0.24% on Thursday, following Wednesday’s 3.33% slide, to end the day at $822.4.
A range bound start to the day saw Bitcoin Cash pullback to an intraday low $805.5 in the early hours, holding above the first major support level at $803.6, before hitting an intraday high $845 by mid-day.
The mid-day rally left Bitcoin short of the first major resistance level at $875.1 and more importantly $900 levels and the 23.6% FIB Retracement Level of $930, with the afternoon pullback to $820 levels leaving the extended bearish trend intact.
At the time of writing, Bitcoin Cash was down 1.61% to $810.8, with a start of the day pullback to an intraday low $806.7 doing the damage early on, while managing to steer clear of the first major support level at $803.6.
For the day ahead a move through a start of the day $823.9 high to $824 levels would support a run at the first major resistance level at $843.1, while we can expect Bitcoin Cash to face plenty of resistance on attempts to break out from the first major resistance level, which would leave $900 levels out of play for the day.
Failure to move back through to the morning’s high could see Bitcoin Cash pullback later in the day to test the first major support level at $803.6 before any recovery, sub-$800 support levels likely to be left untested through the day.
Get Into Bitcoin Cash Trading Today
Litecoin slipped by just 0.17% on Thursday, following Wednesday’s 3.16% slide, to end the day at $86.13.
Following Tuesday’s late reversal, Litecoin moved from a start of the day intraday low $85.01 to middle of the day intraday high $88.9, before easing back to $86 levels, the moves through the day leaving the major support and resistance levels untested.
In spite of the relatively range bound day, Litecoin failed to break through to $90 levels to leave the extended bearish trend intact, the 23.6% FIB Retracement Level of $98 some way off.
At the time of writing, Litecoin was down 0.95% to $85.32, with a early fall to a morning low $84.71 seeing Litecoin hold just above the first major support level a $84.46 before recovering to $85 levels, a start of the day high $86.14 sitting well below the first major resistance level at $88.35 and $90 levels, which remains the key level for Litecoin.
For the day ahead, a move through to $86.68 would support a run at the first major resistance level at $88.35, though we will expect Litecoin to continue to fall short of $90 levels through the day, with the 23.6% FIB Retracement Level of $98 needed to be reached to begin a bearish trend reversal.
Failure to move back through to $86 levels later in the day could see Litecoin pullback through to $84 levels to test the day’s first major support level at $84.46, with the second major support level at 82.79 in play should sentiment not improve, while we will expect Litecoin to continue to hold on to $80 levels by the day’s end.
Buy & Sell Cryptocurrency Instantly
Ripple’s XRP fell by 2.1% on Thursday, following Wednesday’s 4.12% slide, to end the day at $0.47793.
A morning recovery from late Tuesday’s sell-off saw Ripple’s XRP move through to an intraday high $0.49674 in the early afternoon before going into reverse through the remainder of the day, the day’s high falling short of $0.5 levels and well short of the first major resistance level at $0.5203.
The afternoon reversal saw Ripple’s XRP slide to an intraday low $0.4708 before steadying, the day’s low holding above the first major support level at $0.4648, with the continued failure to take a run at the 23.6% FIB Retracement Level of $0.5528 leaving the extended bearish trend intact.
At the time of writing, Ripple’s XRP was down 3.33% to $0.46196 in what’s been a bearish start to the day, Ripple’s XRP falling through the first major support level at $0.4669 to a morning low $0.46016, a start of the day $0.478 falling well short of the first major resistance level at $0.4928.
For the day ahead, a move through to $0.4818 would support a run at the first major resistance level at $0.4928, while we will expect $0.50 levels and the 23.6% FIB Retracement Level of $0.5528 to remain out of reach for the day.
Failure to move back through to $0.48 levels could see Ripple’s XRP pullback to $0.45 levels to test the second major support level at $0.4559 before any recovery to $0.47 levels, the extended bearish trend firmly intact going into the weekend.
Buy & Sell Cryptocurrency Instantly
Thisarticlewas originally posted on FX Empire
• Bitcoin – The Bears Are Looking to Step In
• Bitcoin Cash, Litecoin and Ripple Daily Analysis – 20/07/18
• Precious Metals Hover Near One-Year Lows As Dollar Faces Pressure Post Trump’s Comment
• Natural Gas Price Fundamental Daily Forecast – Short-Covering Rally Could Strengthen Over $2.743
• EUR/USD Daily Price Forecast – EUR/USD Back at 1.165 Handle as Dollar Goes on Defensive Post Trump’s Comment
• Forex Daily Outlook – July 20, 2018 || Bitcoin Cash, Litecoin and Ripple Daily Analysis – 20/07/18: Bitcoin Cash slipped by 0.24% on Thursday, following Wednesday’s 3.33% slide, to end the day at $822.4.
A range bound start to the day saw Bitcoin Cash pullback to an intraday low $805.5 in the early hours, holding above the first major support level at $803.6, before hitting an intraday high $845 by mid-day.
The mid-day rally left Bitcoin short of the first major resistance level at $875.1 and more importantly $900 levels and the 23.6% FIB Retracement Level of $930, with the afternoon pullback to $820 levels leaving the extended bearish trend intact.
At the time of writing, Bitcoin Cash was down 1.61% to $810.8, with a start of the day pullback to an intraday low $806.7 doing the damage early on, while managing to steer clear of the first major support level at $803.6.
For the day ahead a move through a start of the day $823.9 high to $824 levels would support a run at the first major resistance level at $843.1, while we can expect Bitcoin Cash to face plenty of resistance on attempts to break out from the first major resistance level, which would leave $900 levels out of play for the day.
Failure to move back through to the morning’s high could see Bitcoin Cash pullback later in the day to test the first major support level at $803.6 before any recovery, sub-$800 support levels likely to be left untested through the day.
Get Into Bitcoin Cash Trading Today
Litecoin slipped by just 0.17% on Thursday, following Wednesday’s 3.16% slide, to end the day at $86.13.
Following Tuesday’s late reversal, Litecoin moved from a start of the day intraday low $85.01 to middle of the day intraday high $88.9, before easing back to $86 levels, the moves through the day leaving the major support and resistance levels untested.
In spite of the relatively range bound day, Litecoin failed to break through to $90 levels to leave the extended bearish trend intact, the 23.6% FIB Retracement Level of $98 some way off.
At the time of writing, Litecoin was down 0.95% to $85.32, with a early fall to a morning low $84.71 seeing Litecoin hold just above the first major support level a $84.46 before recovering to $85 levels, a start of the day high $86.14 sitting well below the first major resistance level at $88.35 and $90 levels, which remains the key level for Litecoin.
For the day ahead, a move through to $86.68 would support a run at the first major resistance level at $88.35, though we will expect Litecoin to continue to fall short of $90 levels through the day, with the 23.6% FIB Retracement Level of $98 needed to be reached to begin a bearish trend reversal.
Failure to move back through to $86 levels later in the day could see Litecoin pullback through to $84 levels to test the day’s first major support level at $84.46, with the second major support level at 82.79 in play should sentiment not improve, while we will expect Litecoin to continue to hold on to $80 levels by the day’s end.
Buy & Sell Cryptocurrency Instantly
Ripple’s XRP fell by 2.1% on Thursday, following Wednesday’s 4.12% slide, to end the day at $0.47793.
A morning recovery from late Tuesday’s sell-off saw Ripple’s XRP move through to an intraday high $0.49674 in the early afternoon before going into reverse through the remainder of the day, the day’s high falling short of $0.5 levels and well short of the first major resistance level at $0.5203.
The afternoon reversal saw Ripple’s XRP slide to an intraday low $0.4708 before steadying, the day’s low holding above the first major support level at $0.4648, with the continued failure to take a run at the 23.6% FIB Retracement Level of $0.5528 leaving the extended bearish trend intact.
At the time of writing, Ripple’s XRP was down 3.33% to $0.46196 in what’s been a bearish start to the day, Ripple’s XRP falling through the first major support level at $0.4669 to a morning low $0.46016, a start of the day $0.478 falling well short of the first major resistance level at $0.4928.
For the day ahead, a move through to $0.4818 would support a run at the first major resistance level at $0.4928, while we will expect $0.50 levels and the 23.6% FIB Retracement Level of $0.5528 to remain out of reach for the day.
Failure to move back through to $0.48 levels could see Ripple’s XRP pullback to $0.45 levels to test the second major support level at $0.4559 before any recovery to $0.47 levels, the extended bearish trend firmly intact going into the weekend.
Buy & Sell Cryptocurrency Instantly
Thisarticlewas originally posted on FX Empire
• Bitcoin – The Bears Are Looking to Step In
• Bitcoin Cash, Litecoin and Ripple Daily Analysis – 20/07/18
• Precious Metals Hover Near One-Year Lows As Dollar Faces Pressure Post Trump’s Comment
• Natural Gas Price Fundamental Daily Forecast – Short-Covering Rally Could Strengthen Over $2.743
• EUR/USD Daily Price Forecast – EUR/USD Back at 1.165 Handle as Dollar Goes on Defensive Post Trump’s Comment
• Forex Daily Outlook – July 20, 2018 || Dollar, Stocks Fall after Trump Says He’s Not Thrilled with Fed Rate Hikes: President Trump’s criticism of the Federal Reserve on Thursday came as a shock to traders, driving down U.S. interest rates, the U.S. Dollar and stocks.
Trump said he was not thrilled the Fed was raising rates. He told CNBC’s Joe Kernen, “Because we go up and every time you go up they want to raise rates again. I don’t really – I am not happy about it. But at the same time I’m letting them do what they feel is best.”
Trump said he’s concerned that the timing may be poor and that it will put the U.S. at a “disadvantage” while the Fed’s counterparts like the European Central Bank and the Bank of Japan maintain loose monetary policy.
Trump also acknowledged that his comments are unusual but said he doesn’t care.
“Now I’m just saying the same thing that I would have said as a private citizen,” he said. “So somebody would say, ‘Oh maybe you shouldn’t say that as president.’ I couldn’t care less what they say, because my views haven’t changed.”
“I don’t like all of this work that we’re putting into the economy and then I see rates going up,” he said.
Trump’s comments are facing criticism. However, the criticism doesn’t seem to be centered on what he said, but rather on the fact that he called out the Fed.
CNBC said, “The Fed’s independence from political interference has been a hallmark of its existence, so Trump’s remarks have little precedent.”
Former Dallas Fed President Richard Fisher told CNBC that Trump is out of line.
“One of the hallmarks of our great American economy is preserving the independence of the Federal Reserve. No president should interfere with the workings of the Fed,” Fisher said. “Were I Chairman Powell, I would ignore the president and do my job and I am confident he will do just that.”
Treasury yields edged lower on Thursday after President Trump said he disagreed with Fed policy on interest rates and objected to a strong dollar.
The 2-year Treasury note was at 2.58 percent, slightly lower than where it was when Trump made the comment, but it was well off its high of the day, 2.63, a 10-year high. The benchmark, 10-year yield dipped temporarily to 2.83 percent after the interview, but rebounded back to 2.84 percent.
Thisarticlewas originally posted on FX Empire
• Bitcoin – The Bears Are Looking to Step In
• EUR/USD Daily Price Forecast – EUR/USD Back at 1.165 Handle as Dollar Goes on Defensive Post Trump’s Comment
• Crude Oil Price Update – Strengthens Over $68.45, Weakens Under $67.99
• Commodities Daily Forecast – July 20, 2018
• Natural Gas Price Forecast – natural gas markets continue to grind lower
• S&P 500 Price Forecast – S&P 500 pulls back during Thursday session || Dollar, Stocks Fall after Trump Says He’s Not Thrilled with Fed Rate Hikes: President Trump’s criticism of the Federal Reserve on Thursday came as a shock to traders, driving down U.S. interest rates, the U.S. Dollar and stocks. Trump said he was not thrilled the Fed was raising rates. He told CNBC’s Joe Kernen, “Because we go up and every time you go up they want to raise rates again. I don’t really – I am not happy about it. But at the same time I’m letting them do what they feel is best.” Trump said he’s concerned that the timing may be poor and that it will put the U.S. at a “disadvantage” while the Fed’s counterparts like the European Central Bank and the Bank of Japan maintain loose monetary policy. Trump also acknowledged that his comments are unusual but said he doesn’t care. “Now I’m just saying the same thing that I would have said as a private citizen,” he said. “So somebody would say, ‘Oh maybe you shouldn’t say that as president.’ I couldn’t care less what they say, because my views haven’t changed.” “I don’t like all of this work that we’re putting into the economy and then I see rates going up,” he said. Trump’s comments are facing criticism. However, the criticism doesn’t seem to be centered on what he said, but rather on the fact that he called out the Fed. CNBC said, “The Fed’s independence from political interference has been a hallmark of its existence, so Trump’s remarks have little precedent.” Former Dallas Fed President Richard Fisher told CNBC that Trump is out of line. “One of the hallmarks of our great American economy is preserving the independence of the Federal Reserve. No president should interfere with the workings of the Fed,” Fisher said. “Were I Chairman Powell, I would ignore the president and do my job and I am confident he will do just that.” U.S. Treasury Markets Treasury yields edged lower on Thursday after President Trump said he disagreed with Fed policy on interest rates and objected to a strong dollar. Story continues The 2-year Treasury note was at 2.58 percent, slightly lower than where it was when Trump made the comment, but it was well off its high of the day, 2.63, a 10-year high. The benchmark, 10-year yield dipped temporarily to 2.83 percent after the interview, but rebounded back to 2.84 percent. This article was originally posted on FX Empire More From FXEMPIRE: Bitcoin – The Bears Are Looking to Step In EUR/USD Daily Price Forecast – EUR/USD Back at 1.165 Handle as Dollar Goes on Defensive Post Trump’s Comment Crude Oil Price Update – Strengthens Over $68.45, Weakens Under $67.99 Commodities Daily Forecast – July 20, 2018 Natural Gas Price Forecast – natural gas markets continue to grind lower S&P 500 Price Forecast – S&P 500 pulls back during Thursday session || BCD Gets Listed on Cryptocurrency Exchange HITBTC Following Network Upgrades: NEW YORK, NY / ACCESSWIRE / July 19, 2018 / Bitcoin Diamond (BCD) , a fork of Bitcoin which was developed to improve upon the transaction speed of the original Bitcoin, recently got listed on HitBTC , one of the most advanced cryptocurrency exchanges in the world. After interviewing members of the Bitcoin Diamond team, HitBTC expressed confidence in the cryptocurrency, which began trading in March 2018. Set apart by its lightning fast transactions, minimal transaction fees, and large coin supply (ten times that of Bitcoin), Bitcoin Diamond is being targeted towards underserved and unbanked people around the world with a focus on trust, accessibility, and affordability. Now that BCD has already been listed on HITBTC, traders can trade BCD. They can also derive information on BCD to USD conversion rate by visiting https://hitbtc.com/exchange/BCD-to-USDT . Recently, the Bitcoin Diamond Foundation introduced plans to launch the BCD International Marketplace. The Marketplace will allow customers in nearly any country in the world to order and purchase products from popular online marketplaces like Amazon, eBay, Etsy, and AliExpress, all on a single platform using Bitcoin Diamond. Bitcoin Diamond will handpick products to offer to previously neglected markets, including thousands of products ranging from home accessories to electronics, with a marketplace that they have labeled "the Amazon of the Cryptospace". The proceeds will go back into the foundation and will be used to continue to scale the BCD Pay initiative globally. During the month of June, BCD developers tested the stability and reliability of the network on their proprietary testnet by creating payment channels and nodes. BCD declared and paid transaction requests, confirmed receipts across various nodes, and tested payments made between senders and receivers. They conducted a number of tests to ensure that the process for lightning fast network development will be completed successfully. BCD is also rebuilding the ZapWalletTxes to improve the stability, while also adding more functions and replacing the old syntax with loads of new features. The BCD developers have already completed the basic functional development of our wallet app and have also added the private key recovery features, along with the PIN to protect the privacy of the users. Some of the recent updates that traders on HitBTC can expect are new boosted versions, support for upgrading ZMQ to Pythone3, a unified code style, and some new function names, along with simplified codes, an added return error code, and modified hints. Traders can also check latest BCD to BTC conversion rate by visiting https://hitbtc.com/exchange/BCD-to-BTC . Story continues Official website： http://www.btcd.io/ GitHub： https://github.com/eveybcd/BitcoinDiamond Reddit： https://www.reddit.com/user/Bitcoin-Diamond/ Forum： http://bbs.btcd.io Twitter： https://twitter.com/BitcoinDiamond_ Slack： https://bitcoindiamond.slack.com/ Telegram： https://t.me/BCDcommunity CONTACT: support@btcd.io ameliena@btcd.io carl@btcd.io SOURCE: Bitcoin Diamond View comments || BCD Gets Listed on Cryptocurrency Exchange HITBTC Following Network Upgrades: NEW YORK, NY / ACCESSWIRE / July 19, 2018 / Bitcoin Diamond (BCD), a fork of Bitcoin which was developed to improve upon the transaction speed of the original Bitcoin, recently got listed onHitBTC, one of the most advanced cryptocurrency exchanges in the world.
After interviewing members of the Bitcoin Diamond team, HitBTC expressed confidence in the cryptocurrency, which began trading in March 2018. Set apart by its lightning fast transactions, minimal transaction fees, and large coin supply (ten times that of Bitcoin), Bitcoin Diamond is being targeted towards underserved and unbanked people around the world with a focus on trust, accessibility, and affordability. Now that BCD has already been listed on HITBTC, traders can trade BCD. They can also derive information on BCD to USD conversion rate by visitinghttps://hitbtc.com/exchange/BCD-to-USDT.
Recently, the Bitcoin Diamond Foundation introduced plans to launch the BCD International Marketplace. The Marketplace will allow customers in nearly any country in the world to order and purchase products from popular online marketplaces like Amazon, eBay, Etsy, and AliExpress, all on a single platform using Bitcoin Diamond.
Bitcoin Diamond will handpick products to offer to previously neglected markets, including thousands of products ranging from home accessories to electronics, with a marketplace that they have labeled "the Amazon of the Cryptospace". The proceeds will go back into the foundation and will be used to continue to scale the BCD Pay initiative globally.
During the month of June, BCD developers tested the stability and reliability of the network on their proprietary testnet by creating payment channels and nodes. BCD declared and paid transaction requests, confirmed receipts across various nodes, and tested payments made between senders and receivers. They conducted a number of tests to ensure that the process for lightning fast network development will be completed successfully.
BCD is also rebuilding the ZapWalletTxes to improve the stability, while also adding more functions and replacing the old syntax with loads of new features. The BCD developers have already completed the basic functional development of our wallet app and have also added the private key recovery features, along with the PIN to protect the privacy of the users.
Some of the recent updates that traders on HitBTC can expect are new boosted versions, support for upgrading ZMQ to Pythone3, a unified code style, and some new function names, along with simplified codes, an added return error code, and modified hints. Traders can also check latest BCD to BTC conversion rate by visitinghttps://hitbtc.com/exchange/BCD-to-BTC.
Official website：http://www.btcd.io/
GitHub：https://github.com/eveybcd/BitcoinDiamond
Reddit：https://www.reddit.com/user/Bitcoin-Diamond/
Forum：http://bbs.btcd.io
Twitter：https://twitter.com/BitcoinDiamond_
Slack：https://bitcoindiamond.slack.com/
Telegram：https://t.me/BCDcommunity
CONTACT:
support@btcd.io
ameliena@btcd.io
carl@btcd.io
SOURCE:Bitcoin Diamond || Bitcoin Edges Higher as Demand Remains Steady: Investing.com – Bitcoin was modestly higher Thursday as traders continued to bet further upside beckoned for the crypto as inflows into the market held steady.
Bitcoin rose 1.04% to $7,432.9 on the Bitfinex exchange, after trading as highs as $7,515.0.
Bitcoin has held above $7,000 since its rally above this price level earlier in the week, which some crypto observers cited as a sign the popular crypto is eyeing a move higher.
The total market cap of cryptocurrencies fell to about $287 billion, at the time of writing, from about $288 billion Wednesday.
Bitcoin's foray higher comes a day after Fed chairman Jay Powell said "bitcoin is not really a currency," and warned it poses "significant" investor risks as it doesn’t have any intrinsic value.
Other large-cap cryptos failed to replicate bitcoin's modest move higher.
Ripple XRP fell 1.41% to $0.47730 on the Poloniex exchange, while Ethereum fell 1.58% to $467.56.
Bitcoin Cash fell 0.77% to $816.12, while Litecoin fell 2.00% to $86.24.
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[Social Media Buzz]
$BTC volume spike. 41 coin print at $7290.00. $BTCUSD #BTCUSD #BTC #Bitcoin #coinbase #gdax || Jul 21, 2018 05:00:00 UTC | 7,297.00$ | 6,220.00€ | 5,556.20£ | #Bitcoin #btc pic.twitter.com/vRvhVYPRWW || 2018年07月21日 12:00
[DOGE建]
1XP=0.0067992円
24時間の最高値 0.0085747円
24時間の最安値 0.0058827円
[BTC建]
1XP=0.0081232円
24時間の最高値 0.0086222円
24時間の最安値 0.0080475円
時価総額ランキング: 349 位 / 全 797 中
#XP $XP || USD: 111.390
EUR: 130.620
GBP: 146.344
AUD: 82.674
NZD: 75.823
CNY: 16.439
CHF: 112.198
BTC: 818,184
ETH: 51,7...
|
7418.49, 7711.11, 8424.27, 8181.39, 7951.58, 8165.01, 8192.15, 8218.46, 8180.48, 7780.44
|
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 596.30, 602.84, 602.62, 600.83, 608.04, 606.17, 604.73, 605.69, 609.73, 613.98, 610.89, 612.13, 610.20, 612.51, 613.02, 617.12, 619.11, 616.75, 618.99, 641.07, 636.19, 636.79, 640.38, 638.65, 641.63, 639.19, 637.96, 630.52, 630.86, 632.83, 657.29, 657.07, 653.76, 657.59, 678.30, 688.31, 689.65, 714.48, 701.86, 700.97, 729.79, 740.83, 688.70, 703.23, 703.42, 711.52, 703.13, 709.85, 723.27, 715.53, 716.41, 705.05, 702.03, 705.02, 711.62, 744.20, 740.98, 751.59, 751.62, 731.03, 739.25, 751.35, 744.59, 740.29, 741.65, 735.38, 732.03, 735.81, 735.60, 745.69, 756.77, 777.94, 771.16, 773.87, 758.70, 764.22, 768.13, 770.81, 772.79, 774.65, 769.73, 780.09, 780.56, 781.48, 778.09, 784.91, 790.83, 790.53, 792.71, 800.88.
|
[Bitcoin Technical Analysis for 2016-12-20]
Volume: 99629296, RSI (14-day): 72.41, 50-day EMA: 744.83, 200-day EMA: 646.52
[Wider Market Context]
Gold Price: 1131.50, Gold RSI: 28.58
Oil Price: 52.23, Oil RSI: 60.03
[Recent News (last 7 days)]
Traders look at housing trades that are building up for the new year: With the SPDR S&P Homebuilders ETF(NYSE Arca: XHB)climbing about half a percent Monday, the "Fast Money" traders weighed in on housing stocks building up for 2017.
Trader Brian Kelly noted that even though housing starts fell below estimates last week, 2017 could be the year for homebuilders to break out. The sector's climb reminded him of another big performer from 2016.
"The homebuilder is set up similar to how the financials did last year where this could be a big breakout trade if you have that economic growth that's going to push people in homes," he said.
Trader Karen Finerman said she's not concerned about the move in the homebuilders ETF. She attributed it to the end of the election and the end of uncertainty.
As the low-end buyer in the sector, KB Home(NYSE: KBH)has the potential to be a strong stock next year in the face of regulation rollbacks from the Trump administration, trader David Seaburg said. Even thought the stock is up 33 percent year to date, Seaburg said it still has room to grow, while the high-end Wall Street banks are going to continue to have problems with regulation.
"I like the KBH. Even though it's up strong, I think it continues," he said.
Disclosures:
GUY ADAMI
long CELG, EXAS, GDX, INTC, Guy Adami's wife, Linda Snow, works at Merck.
KAREN FINERMAN
long AAL, BAC, BAC short calls, C, DAL, FB, FL, GLMP,, GOGO, GOOG, GOOGL, JPM, LYV, KORS, KORS calls, KORS puts, M, MA, SEDG, SPY puts, TACO, UAL, URI, WIFI long call spreads. Her firm is long ANTM, AAPL, BAC, C, C calls, FB, GOOG, GOOGL, JPM, JPM calls, KORS, LYV, M, MOH, PLCE, SPY puts, URI, WIFI, her firm is short IWM, MDY. Karen Finerman is on the board of GrafTech International.
BRIAN KELLY
long Bitcoin, TLT, US30Y. He is short EUR=.,AUD,GPB
DAVID SEABURG
Opinions expressed by David Seaburg are solely his own and do not reflect the views and opinions of Cowen Group, Inc. David Seaburg and Cowen have a financial interest in EDIT.Diamond Offshore: an employee of Cowen and Company, LLC serves on the Board of Directors of Diamond Offshore
More From CNBC
• Traders weigh oil stocks amid pullback
• Stress boom to boost drug sales?
• Rumor visits the Nasdaq, fresh off her Westminster win || Traders look at housing trades that are building up for the new year: With the SPDR S&P Homebuilders ETF (NYSE Arca: XHB) climbing about half a percent Monday, the " Fast Money " traders weighed in on housing stocks building up for 2017. Trader Brian Kelly noted that even though housing starts fell below estimates last week, 2017 could be the year for homebuilders to break out. The sector's climb reminded him of another big performer from 2016. "The homebuilder is set up similar to how the financials did last year where this could be a big breakout trade if you have that economic growth that's going to push people in homes," he said. Trader Karen Finerman said she's not concerned about the move in the homebuilders ETF. She attributed it to the end of the election and the end of uncertainty. As the low-end buyer in the sector, KB Home (NYSE: KBH) has the potential to be a strong stock next year in the face of regulation rollbacks from the Trump administration, trader David Seaburg said. Even thought the stock is up 33 percent year to date, Seaburg said it still has room to grow, while the high-end Wall Street banks are going to continue to have problems with regulation. "I like the KBH. Even though it's up strong, I think it continues," he said. Disclosures: GUY ADAMI long CELG, EXAS, GDX, INTC, Guy Adami's wife, Linda Snow, works at Merck. KAREN FINERMAN long AAL, BAC, BAC short calls, C, DAL, FB, FL, GLMP,, GOGO, GOOG, GOOGL, JPM, LYV, KORS, KORS calls, KORS puts, M, MA, SEDG, SPY puts, TACO, UAL, URI, WIFI long call spreads. Her firm is long ANTM, AAPL, BAC, C, C calls, FB, GOOG, GOOGL, JPM, JPM calls, KORS, LYV, M, MOH, PLCE, SPY puts, URI, WIFI, her firm is short IWM, MDY. Karen Finerman is on the board of GrafTech International. BRIAN KELLY long Bitcoin, TLT, US30Y. He is short EUR=.,AUD,GPB DAVID SEABURG Opinions expressed by David Seaburg are solely his own and do not reflect the views and opinions of Cowen Group, Inc. David Seaburg and Cowen have a financial interest in EDIT.Diamond Offshore: an employee of Cowen and Company, LLC serves on the Board of Directors of Diamond Offshore More From CNBC Traders weigh oil stocks amid pullback Stress boom to boost drug sales? Rumor visits the Nasdaq, fresh off her Westminster win || Here's how Walmart and Green Dot could incentivize prepaid use: (BI Intelligence)
This story was delivered to BI Intelligence "Payments Briefing" subscribers. To learn more and subscribe, pleaseclick here.
New gamification features are coming to Walmart MoneyCard, the retailer's prepaid card issued by Green Dot.
The program, called Prize Savings, is an effort to encourage holders to keep more money in savings.
The firms believe there’s a “savings crisis” in the US, which reportedly prompted the launch of the program, but it could also indirectly increase engagement with Walmart MoneyCard, which ultimately helps both the retailer and the issuer.
The program uses cash prizes to incentivize savings. The program enters MoneyCard customers into a monthly sweepstakes for saving funds. Users can use the MoneyCard app or website to transfer money from their card balance into the MoneyCard Vault, a free savings feature. For every dollar they enter into their Vault, they receive one entry in a sweepstakes, which draws 500 winners for cash prizes per month.
Indirectly, the program incentivizes users to engage more with their prepaid card, which could indirectly encourage usage.
• The program pushes users to engage with their MoneyCards more often. Thus far, the program is working. Prize Savings soft-launched in August, and since then has seen a 35% increase in the average Vault savings balance. To transfer, customers are forced to log into their MoneyCard online — something they might not do otherwise — which could help them discover other available features, like reload or transfer options — that they might use down the line. In addition, the cash prizes are distributed directly into users' MoneyCard accounts, which means customers are forced to engage with and use their cards in order to redeem their winnings.
• This could help users better form habits around the card, which could increase usage of the MoneyCard product. Customers are beginning to use their prepaid card accounts much more like traditional bank accounts than ever before, a move that Prize Savings encourages. That could ultimately improve engagement with MoneyCard, which might ultimately benefit both Walmart and Green Dot in the form of fees. In addition, Green Dot has been looking for ways to improve digital engagement with its offerings, and it’s plausible it could apply a similar model if Prize Savings continues to be effective.
Prepaid cards such as this are just one piece of the much larger payments ecosystem, which has grown more complex in the last several years and now includes issuers, merchants, processors, and more.
John Heggestuen, senior research analyst atBI Intelligence, Business Insider’s premium research service, has compileda detailed report on the payments ecosystemthat drills into the industry to explain how a broad range of transactions are processed, including prepaid and store cards, as well as revealing which types of companies are in the best and worst position to capitalize on the latest industry trends.
Here are some key takeaways from the report:
• 2016 will be a watershed year for the payments industry. Payments companies are improving security, expanding their mobile offerings, and building commerce capabilities that will give consumers a more compelling reason to make purchases using digital devices.
• Payments is an extremely complex industry. To understand the next big digital opportunity lies, it's critical to understand how the traditional credit- and debit-processing chain works and what roles acquirers, processors, issuing banks, card networks, independent sales organizations, gateways, and software and hardware providers play.
• Alternative technologies could disrupt the processing ecosystem. Devices ranging from refrigerators to smartwatches now feature payment capabilities, which will spur changes in consumer payment behaviors. Likewise, blockchain technology, the protocol that underlies Bitcoin, could one day change how consumer card payments are verified.
In full, the report:
• Uncovers the key themes and trends affecting the payments industry in 2016 and beyond.
• Gives a detailed description of the stakeholders involved in a payment transaction, along with hardware and software providers.
• Offers diagrams and infographics explaining how card transactions are processed and which players are involved in each step.
• Provides charts on our latest forecasts, key company growth, survey results, and more.
• Analyzes the alternative technologies, including blockchain, which could further disrupt the ecosystem.
To get your copy of this invaluable guide, choose one of these options:
1. Subscribe to an ALL-ACCESS Membership with BI Intelligence and gain immediate access to this report AND over 100 other expertly researched deep-dive reports, subscriptions to all of our daily newsletters, and much more. >>START A MEMBERSHIP
2. Purchase the report and download it immediately from our research store. >>BUY THE REPORT
The choice is yours. But however you decide to acquire this report, you’ve given yourself a powerful advantage in your understanding of the payments ecosystem.
More From Business Insider
• THE MOBILE PAYMENTS REPORT: Market forecasts, consumer trends, and the barriers and benefits that will influence adoption
• You won’t recognize the new world of digital payments without this report
• THE MOBILE PAYMENTS IN CHINA REPORT: What the US can learn from China's enormous success in mobile payments || Here's how Walmart and Green Dot could incentivize prepaid use: How unbanked consumers use prepaid cards (BI Intelligence) This story was delivered to BI Intelligence " Payments Briefing " subscribers. To learn more and subscribe, please click here . New gamification features are coming to Walmart MoneyCard, the retailer's prepaid card issued by Green Dot. The program, called Prize Savings, is an effort to encourage holders to keep more money in savings. The firms believe there’s a “savings crisis” in the US, which reportedly prompted the launch of the program, but it could also indirectly increase engagement with Walmart MoneyCard, which ultimately helps both the retailer and the issuer. The program uses cash prizes to incentivize savings. The program enters MoneyCard customers into a monthly sweepstakes for saving funds. Users can use the MoneyCard app or website to transfer money from their card balance into the MoneyCard Vault, a free savings feature. For every dollar they enter into their Vault, they receive one entry in a sweepstakes, which draws 500 winners for cash prizes per month. Indirectly, the program incentivizes users to engage more with their prepaid card, which could indirectly encourage usage. The program pushes users to engage with their MoneyCards more often. Thus far, the program is working. Prize Savings soft-launched in August, and since then has seen a 35% increase in the average Vault savings balance. To transfer, customers are forced to log into their MoneyCard online — something they might not do otherwise — which could help them discover other available features, like reload or transfer options — that they might use down the line. In addition, the cash prizes are distributed directly into users' MoneyCard accounts, which means customers are forced to engage with and use their cards in order to redeem their winnings. This could help users better form habits around the card, which could increase usage of the MoneyCard product. Customers are beginning to use their prepaid card accounts much more like traditional bank accounts than ever before, a move that Prize Savings encourages. That could ultimately improve engagement with MoneyCard, which might ultimately benefit both Walmart and Green Dot in the form of fees. In addition, Green Dot has been looking for ways to improve digital engagement with its offerings, and it’s plausible it could apply a similar model if Prize Savings continues to be effective. Story continues Prepaid cards such as this are just one piece of the much larger payments ecosystem, which has grown more complex in the last several years and now includes issuers, merchants, processors, and more. John Heggestuen, senior research analyst at BI Intelligence , Business Insider’s premium research service, has compiled a detailed report on the payments ecosystem that drills into the industry to explain how a broad range of transactions are processed, including prepaid and store cards, as well as revealing which types of companies are in the best and worst position to capitalize on the latest industry trends. Here are some key takeaways from the report: 2016 will be a watershed year for the payments industry. Payments companies are improving security, expanding their mobile offerings, and building commerce capabilities that will give consumers a more compelling reason to make purchases using digital devices. Payments is an extremely complex industry. To understand the next big digital opportunity lies, it's critical to understand how the traditional credit- and debit-processing chain works and what roles acquirers, processors, issuing banks, card networks, independent sales organizations, gateways, and software and hardware providers play. Alternative technologies could disrupt the processing ecosystem. Devices ranging from refrigerators to smartwatches now feature payment capabilities, which will spur changes in consumer payment behaviors. Likewise, blockchain technology, the protocol that underlies Bitcoin, could one day change how consumer card payments are verified. In full, the report: Uncovers the key themes and trends affecting the payments industry in 2016 and beyond. Gives a detailed description of the stakeholders involved in a payment transaction, along with hardware and software providers. Offers diagrams and infographics explaining how card transactions are processed and which players are involved in each step. Provides charts on our latest forecasts, key company growth, survey results, and more. Analyzes the alternative technologies, including blockchain, which could further disrupt the ecosystem. To get your copy of this invaluable guide, choose one of these options: Subscribe to an ALL-ACCESS Membership with BI Intelligence and gain immediate access to this report AND over 100 other expertly researched deep-dive reports, subscriptions to all of our daily newsletters, and much more. >> START A MEMBERSHIP Purchase the report and download it immediately from our research store. >> BUY THE REPORT The choice is yours. But however you decide to acquire this report, you’ve given yourself a powerful advantage in your understanding of the payments ecosystem. More From Business Insider THE MOBILE PAYMENTS REPORT: Market forecasts, consumer trends, and the barriers and benefits that will influence adoption You won’t recognize the new world of digital payments without this report THE MOBILE PAYMENTS IN CHINA REPORT: What the US can learn from China's enormous success in mobile payments || Garfield Sinclair Appointed Head of Caribbean for C&W: MIAMI, FL--(Marketwired - Dec 16, 2016) - Garfield (Garry) Sinclair was today announced as President, Caribbean for Cable & Wireless Communications ("C&W" or "The Company"). The position has responsibility for operations in 15 territories across the region, including C&W's Jamaica, Trinidad and Barbados markets. John Reid, CEO of C&W, who was recently confirmed as top executive of the region-leading full service operator, said: "Our business is entering a new phase of its development and evolution, and I am excited about the expertise, experience and passion for customers that Garry brings to what is a critical role." As head of the Caribbean, Sinclair will be responsible for the strategic execution, financial performance and reputation of the Caribbean business, developing the Company's growth opportunities, in particular triple-play, mobile data and fixed-mobile convergence, as well as capturing the growing demand for business-to-business services. Sinclair, a Jamaica national, is uniquely qualified to lead the Caribbean business given his twenty years' experience in developing growth opportunities and transformation in organizations across the region. In his role as President and COO of investment bank Dehring Bunting & Golding, Garry grew a start-up business to be key player in the Caribbean financial services industry. More recently, for the past seven years as CEO of Cable & Wireless Jamaica he has successfully led the operation's transformation, growing the mobile subscriber base from two hundred thousand to almost one million customers, as well as leading the Company's 800+ employees through the integration of the Columbus and C&W businesses to become the country's leading converged telecoms operator. In addition, his range of Board appointments including financial institutions, youth empowerment and the Jamaica Football Federation demonstrates Sinclair's leadership experience and passion for Caribbean development, qualities key to C&W's development and growth across the Caribbean. Story continues "I am honored to lead our Caribbean business into the next chapter of its development. I look forward to working with our 3,300 employees across the region as we look to seize the opportunity to develop our products and services, continue the transformation of our operations, and lead the region in innovation and quality of customer experience," said Sinclair. Sinclair's appointment will take effect on January 1, 2017; in addition he will continue to oversee C&W's Jamaica business directly until the appointment of new leadership for that operation later in the New Year. About C&W Communications C&W is a full service communications and entertainment provider and delivers market-leading video, broadband, telephony and mobile services to consumers in 18 countries. Through its business division, C&W provides data center hosting, domestic and international managed network services, and customized IT service solutions, utilizing cloud technology to serve business and government customers. C&W also operates a state-of-the-art submarine fiber network -- the most extensive in the region. Learn more at www.cwc.com , or follow C&W on LinkedIn , Facebook or Twitter . About Liberty Global Liberty Global is the world's largest international TV and broadband company, with operations in more than 30 countries across Europe, Latin America and the Caribbean. Liberty Global invests in the infrastructure that empowers its customers to make the most of the digital revolution. Liberty Global's scale and commitment to innovation enables it to develop market-leading products delivered through next-generation networks that connect its 29 million customers who subscribe to 60 million television, broadband internet and telephony services. Liberty Global also serves over 10 million mobile subscribers and offers WiFi service across seven million access points. Liberty Global's businesses are comprised of two stocks: the Liberty Global Group ( NASDAQ : LBTYA ) ( NASDAQ : LBTYB ) and ( NASDAQ : LBTYK ) for its European operations, and the LiLAC Group ( NASDAQ : LILA ) and ( NASDAQ : LILAK ) ( OTC PINK : LILAB ), which consists of its operations in Latin America and the Caribbean. The Liberty Global Group operates in 12 European countries under the consumer brands Virgin Media, Ziggo, Unitymedia, Telenet and UPC. The LiLAC Group operates in over 20 countries in Latin America and the Caribbean under the consumer brands VTR, Flow, Liberty, Mas Movil and BTC. In addition, the LiLAC Group operates a subsea fiber network throughout the region in over 30 markets. For more information, please visit www.libertyglobal.com . Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=3092379 Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=3092382 || Garfield Sinclair Appointed Head of Caribbean for C&W: MIAMI, FL--(Marketwired - Dec 16, 2016) - Garfield (Garry) Sinclair was today announced as President, Caribbean for Cable & Wireless Communications ("C&W" or "The Company"). The position has responsibility for operations in 15 territories across the region, including C&W's Jamaica, Trinidad and Barbados markets. John Reid, CEO of C&W, who was recently confirmed as top executive of the region-leading full service operator, said: "Our business is entering a new phase of its development and evolution, and I am excited about the expertise, experience and passion for customers that Garry brings to what is a critical role." As head of the Caribbean, Sinclair will be responsible for the strategic execution, financial performance and reputation of the Caribbean business, developing the Company's growth opportunities, in particular triple-play, mobile data and fixed-mobile convergence, as well as capturing the growing demand for business-to-business services. Sinclair, a Jamaica national, is uniquely qualified to lead the Caribbean business given his twenty years' experience in developing growth opportunities and transformation in organizations across the region. In his role as President and COO of investment bank Dehring Bunting & Golding, Garry grew a start-up business to be key player in the Caribbean financial services industry. More recently, for the past seven years as CEO of Cable & Wireless Jamaica he has successfully led the operation's transformation, growing the mobile subscriber base from two hundred thousand to almost one million customers, as well as leading the Company's 800+ employees through the integration of the Columbus and C&W businesses to become the country's leading converged telecoms operator. In addition, his range of Board appointments including financial institutions, youth empowerment and the Jamaica Football Federation demonstrates Sinclair's leadership experience and passion for Caribbean development, qualities key to C&W's development and growth across the Caribbean. Story continues "I am honored to lead our Caribbean business into the next chapter of its development. I look forward to working with our 3,300 employees across the region as we look to seize the opportunity to develop our products and services, continue the transformation of our operations, and lead the region in innovation and quality of customer experience," said Sinclair. Sinclair's appointment will take effect on January 1, 2017; in addition he will continue to oversee C&W's Jamaica business directly until the appointment of new leadership for that operation later in the New Year. About C&W Communications C&W is a full service communications and entertainment provider and delivers market-leading video, broadband, telephony and mobile services to consumers in 18 countries. Through its business division, C&W provides data center hosting, domestic and international managed network services, and customized IT service solutions, utilizing cloud technology to serve business and government customers. C&W also operates a state-of-the-art submarine fiber network -- the most extensive in the region. Learn more at www.cwc.com , or follow C&W on LinkedIn , Facebook or Twitter . About Liberty Global Liberty Global is the world's largest international TV and broadband company, with operations in more than 30 countries across Europe, Latin America and the Caribbean. Liberty Global invests in the infrastructure that empowers its customers to make the most of the digital revolution. Liberty Global's scale and commitment to innovation enables it to develop market-leading products delivered through next-generation networks that connect its 29 million customers who subscribe to 60 million television, broadband internet and telephony services. Liberty Global also serves over 10 million mobile subscribers and offers WiFi service across seven million access points. Liberty Global's businesses are comprised of two stocks: the Liberty Global Group ( NASDAQ : LBTYA ) ( NASDAQ : LBTYB ) and ( NASDAQ : LBTYK ) for its European operations, and the LiLAC Group ( NASDAQ : LILA ) and ( NASDAQ : LILAK ) ( OTC PINK : LILAB ), which consists of its operations in Latin America and the Caribbean. The Liberty Global Group operates in 12 European countries under the consumer brands Virgin Media, Ziggo, Unitymedia, Telenet and UPC. The LiLAC Group operates in over 20 countries in Latin America and the Caribbean under the consumer brands VTR, Flow, Liberty, Mas Movil and BTC. In addition, the LiLAC Group operates a subsea fiber network throughout the region in over 30 markets. For more information, please visit www.libertyglobal.com . Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=3092379 Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=3092382 || Bitcoin Activity in India Has Doubled Since the Banknote Ban: 1000 Rupee Note Early in November, India abolished the 500 and 1000 rupee banknotes in an effort to fight corruption and so-called " black money ". Since then, interest in Bitcoin appears to be increasing in the Asian country based on a variety of different metrics. Although there was already a vibrant Bitcoin community in India, the recent move to clamp down on illegal income and tax evasion seems to have sparked new interest in the peer-to-peer digital cash system. Who Uses Bitcoin in India? So who uses Bitcoin in India? According to Sunny Ray , who is the president and co-founder of Indian bitcoin exchange Unocoin , there are two main categories of Bitcoin users in the country. In an interview with Bitcoin Uncensored co-host Chris DeRose just before the large denomination banknote ban was put into place, Ray claimed that 40 to 50 percent of their users are savers who view bitcoin as a digital gold. "India is the largest gold market in the world," said Ray. "If you couple that with—I think it's something like 20 or 25 percent of the world's programming and IT population also live in India—digital gold is obviously something that I think people have the capacity to get." Ray also noted that roughly 20 percent of Unocoin's users are freelancers who use Bitcoin as a cheaper alternative to PayPal. Ray noted that Bitcoin currently offers what are essentially negative fees for freelancers based in India because of the relatively higher price bitcoins sell for in the country. During the Bitcoin Uncensored interview, Ray stressed that his estimates should be taken with a grain of salt, as the very nature of Bitcoin makes it difficult to get real user data. Trading Volume Has More Than Doubled Since the Ban So what's happened since India got rid of the 500 and 1000 rupee banknotes? For starters, Ray told CoinJournal that Unocoin has seen a doubling in traffic and trading volume over the past 30 days. An increase in trading volume can also be seen on LocalBitcoins , where the daily volume has increased from around 1.25 million rupees (around $18,500) per day before the cash ban to around 2.5 million rupees per day in early December. There was also an all-time high of more than 5.5 million rupees (just over $81,000) worth of bitcoin traded on November 26th. Story continues It's important to remember that LocalBitcoins trading volume is a rather rough metric because many traders continue exchanging bitcoins off of the site after finding someone they trust. Bitcoin currently trades at a high premium in India due to capital controls in India, which make it difficult for Bitcoin companies, such as Unocoin, to settle against foreign exchanges; however, Unocoin is currently working on a method to bring more bitcoin liquidity into the Indian market. In a blog post on their website, BitGo has noted the value of India-based transactions co-signed by them has increased by 240 percent since September. Larger Effects May Be Seen Over the Long Term While there's been a nice uptick in Bitcoin activity in India over the past month or so, Ray believes the larger effects of India's removal of the 500 and 1000 rupee banknotes from circulation will be seen over the long term. "Right now, people are being very careful with their spending," said Ray. "We think it will be long term because with all of the restrictions, the push towards digital money, and the amount of new money that's entering the banking system, some of that will find a home in bitcoin." || Bitcoin Activity in India Has Doubled Since the Banknote Ban: Early in November, Indiaabolishedthe 500 and 1000 rupee banknotes in an effort to fight corruption and so-called "black money". Since then, interest in Bitcoin appears to be increasing in the Asian country based on a variety of different metrics. Although there was already a vibrant Bitcoin community in India, the recent move to clamp down on illegal income and tax evasion seems to have sparked new interest in the peer-to-peer digital cash system.
So who uses Bitcoin in India? According toSunny Ray, who is the president and co-founder of Indian bitcoin exchangeUnocoin, there are two main categories of Bitcoin users in the country.Inan interviewwithBitcoin Uncensoredco-hostChris DeRosejust before the large denomination banknote ban was put into place, Ray claimed that 40 to 50 percent of their users are savers who view bitcoin as a digital gold. "India is the largest gold market in the world," said Ray. "If you couple that with—I think it's something like 20 or 25 percent of the world's programming and IT population also live in India—digital gold is obviously something that I think people have the capacity to get."Ray also noted that roughly 20 percent of Unocoin's users are freelancers who use Bitcoin as a cheaper alternative to PayPal. Ray noted that Bitcoin currently offers what are essentially negative fees for freelancers based in India because of the relatively higher price bitcoins sell for in the country.During the Bitcoin Uncensored interview, Ray stressed that his estimates should be taken with a grain of salt, as the very nature of Bitcoin makes it difficult to get real user data.
So what's happened since India got rid of the 500 and 1000 rupee banknotes? For starters, Ray toldCoinJournalthat Unocoin has seen a doubling in traffic and trading volume over the past 30 days.An increase in trading volumecan also be seenonLocalBitcoins, where the daily volume has increased from around 1.25 million rupees (around $18,500) per day before the cash ban to around 2.5 million rupees per day in early December. There was also an all-time high of more than 5.5 million rupees (just over $81,000) worth of bitcoin traded on November 26th.
It's important to remember that LocalBitcoins trading volume is a rather rough metric because many traders continue exchanging bitcoins off of the site after finding someone they trust.
Bitcoin currently trades at a high premium in India due to capital controls in India, which make it difficult for Bitcoin companies, such as Unocoin, to settle against foreign exchanges; however, Unocoin is currently working on a method to bring more bitcoin liquidity into the Indian market.In ablog poston their website,BitGohas noted the value of India-based transactions co-signed by them has increased by 240 percent since September.
While there's been a nice uptick in Bitcoin activity in India over the past month or so, Ray believes the larger effects of India's removal of the 500 and 1000 rupee banknotes from circulation will be seen over the long term.
"Right now, people are being very careful with their spending," said Ray. "We think it will be long term because with all of the restrictions, the push towards digital money, and the amount of new money that's entering the banking system, some of that will find a home in bitcoin." || Bitcoin Activity in India Has Doubled Since the Banknote Ban: Early in November, Indiaabolishedthe 500 and 1000 rupee banknotes in an effort to fight corruption and so-called "black money". Since then, interest in Bitcoin appears to be increasing in the Asian country based on a variety of different metrics. Although there was already a vibrant Bitcoin community in India, the recent move to clamp down on illegal income and tax evasion seems to have sparked new interest in the peer-to-peer digital cash system.
So who uses Bitcoin in India? According toSunny Ray, who is the president and co-founder of Indian bitcoin exchangeUnocoin, there are two main categories of Bitcoin users in the country.Inan interviewwithBitcoin Uncensoredco-hostChris DeRosejust before the large denomination banknote ban was put into place, Ray claimed that 40 to 50 percent of their users are savers who view bitcoin as a digital gold. "India is the largest gold market in the world," said Ray. "If you couple that with—I think it's something like 20 or 25 percent of the world's programming and IT population also live in India—digital gold is obviously something that I think people have the capacity to get."Ray also noted that roughly 20 percent of Unocoin's users are freelancers who use Bitcoin as a cheaper alternative to PayPal. Ray noted that Bitcoin currently offers what are essentially negative fees for freelancers based in India because of the relatively higher price bitcoins sell for in the country.During the Bitcoin Uncensored interview, Ray stressed that his estimates should be taken with a grain of salt, as the very nature of Bitcoin makes it difficult to get real user data.
So what's happened since India got rid of the 500 and 1000 rupee banknotes? For starters, Ray toldCoinJournalthat Unocoin has seen a doubling in traffic and trading volume over the past 30 days.An increase in trading volumecan also be seenonLocalBitcoins, where the daily volume has increased from around 1.25 million rupees (around $18,500) per day before the cash ban to around 2.5 million rupees per day in early December. There was also an all-time high of more than 5.5 million rupees (just over $81,000) worth of bitcoin traded on November 26th.
It's important to remember that LocalBitcoins trading volume is a rather rough metric because many traders continue exchanging bitcoins off of the site after finding someone they trust.
Bitcoin currently trades at a high premium in India due to capital controls in India, which make it difficult for Bitcoin companies, such as Unocoin, to settle against foreign exchanges; however, Unocoin is currently working on a method to bring more bitcoin liquidity into the Indian market.In ablog poston their website,BitGohas noted the value of India-based transactions co-signed by them has increased by 240 percent since September.
While there's been a nice uptick in Bitcoin activity in India over the past month or so, Ray believes the larger effects of India's removal of the 500 and 1000 rupee banknotes from circulation will be seen over the long term.
"Right now, people are being very careful with their spending," said Ray. "We think it will be long term because with all of the restrictions, the push towards digital money, and the amount of new money that's entering the banking system, some of that will find a home in bitcoin." || Bitcoin soars to nearly three-year high in wake of China volatility: By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - Digital currency bitcoin on Tuesday surged to its highest in nearly three years as investors bought the asset in a supposedly safe-haven bid in the midst of volatility in the Chinese stock market. On Tuesday, bitcoin climbed as high $793.27 on the BitStamp platform, its highest since February 2014. Since August this year, bitcoin has soared 70 percent. Darin Stanchfield, founder and chief executive officer of bitcoin wallet KeepKey said bitcoin has benefited from uncertainty in the Chinese stock market. Mainland Chinese markets have been on the defensive the last two days due to a widely-anticipated interest rate increase by the Federal Reserve on Wednesday. Chinese stock markets though did finish higher on Tuesday. "Bitcoin has become a safe haven, though not like a mainstream safe haven. We have been seeing lots of volume from China and also India," Stanchfield said. According to digital currency research firm Coindesk, 95 percent of global bitcoin trading is done through Chinese exchanges. Bitcoin is a virtual currency that can be moved money around the world quickly and anonymously without the need for a central authority. That makes it attractive to those seeking to get around strict capital controls in countries like China. While China currently dominates the space, Chris Burniske, analyst at exchange traded fund manager ARK Invest, noted that bitcoin trading in Venezuela has also soared, rising seven-fold this year as inflation surged and the bolivar currency collapsed. Analysts said the groundwork for bitcoin gains was laid in July this year in a process called "halving", where the rewards offered to bitcoin miners shrink. That has constrained the supply of the digital currency. Bitcoin relies on so-called "mining" computers that validate blocks of transactions by competing to solve mathematical puzzles every 10 minutes. In return, the first to solve the puzzle and clear the transaction is rewarded new bitcoins. Before the halving in July, the miner's reward was 25 bitcoins. The bitcoin program was designed in such a way that it cut the reward for miners in half every four years, a move that was meant to keep a lid on inflation. "If you look back a couple of years when the mining rewards were halved as well, it did take a few months before the effect of the mining rewards kicked in," said KeepKey's Stanchfield. Stanchfield believes bitcoin could exceed the record high set in 2013 of more then $1,100. (Reporting by Gertrude Chavez-Dreyfuss,; additional reporting by Jemima Kelly in London; Editing by Andrew Hay) || Bitcoin soars to nearly three-year high in wake of China volatility: By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - Digital currency bitcoin on Tuesday surged to its highest in nearly three years as investors bought the asset in a supposedly safe-haven bid in the midst of volatility in the Chinese stock market. On Tuesday, bitcoin climbed as high $793.27 on the BitStamp platform, its highest since February 2014. Since August this year, bitcoin has soared 70 percent. Darin Stanchfield, founder and chief executive officer of bitcoin wallet KeepKey said bitcoin has benefited from uncertainty in the Chinese stock market. Mainland Chinese markets have been on the defensive the last two days due to a widely-anticipated interest rate increase by the Federal Reserve on Wednesday. Chinese stock markets though did finish higher on Tuesday. "Bitcoin has become a safe haven, though not like a mainstream safe haven. We have been seeing lots of volume from China and also India," Stanchfield said. According to digital currency research firm Coindesk, 95 percent of global bitcoin trading is done through Chinese exchanges. Bitcoin is a virtual currency that can be moved money around the world quickly and anonymously without the need for a central authority. That makes it attractive to those seeking to get around strict capital controls in countries like China. While China currently dominates the space, Chris Burniske, analyst at exchange traded fund manager ARK Invest, noted that bitcoin trading in Venezuela has also soared, rising seven-fold this year as inflation surged and the bolivar currency collapsed. Analysts said the groundwork for bitcoin gains was laid in July this year in a process called "halving", where the rewards offered to bitcoin miners shrink. That has constrained the supply of the digital currency. Bitcoin relies on so-called "mining" computers that validate blocks of transactions by competing to solve mathematical puzzles every 10 minutes. In return, the first to solve the puzzle and clear the transaction is rewarded new bitcoins. Before the halving in July, the miner's reward was 25 bitcoins. The bitcoin program was designed in such a way that it cut the reward for miners in half every four years, a move that was meant to keep a lid on inflation. "If you look back a couple of years when the mining rewards were halved as well, it did take a few months before the effect of the mining rewards kicked in," said KeepKey's Stanchfield. Stanchfield believes bitcoin could exceed the record high set in 2013 of more then $1,100. (Reporting by Gertrude Chavez-Dreyfuss,; additional reporting by Jemima Kelly in London; Editing by Andrew Hay) || Bitcoin soars to nearly three-year high in wake of China volatility: By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - Digital currency bitcoin on Tuesday surged to its highest in nearly three years as investors bought the asset in a supposedly safe-haven bid in the midst of volatility in the Chinese stock market. On Tuesday, bitcoin climbed as high $793.27 on the BitStamp platform, its highest since February 2014. Since August this year, bitcoin has soared 70 percent. Darin Stanchfield, founder and chief executive officer of bitcoin wallet KeepKey said bitcoin has benefited from uncertainty in the Chinese stock market. Mainland Chinese markets have been on the defensive the last two days due to a widely-anticipated interest rate increase by the Federal Reserve on Wednesday. Chinese stock markets though did finish higher on Tuesday. "Bitcoin has become a safe haven, though not like a mainstream safe haven. We have been seeing lots of volume from China and also India," Stanchfield said. According to digital currency research firm Coindesk, 95 percent of global bitcoin trading is done through Chinese exchanges. Bitcoin is a virtual currency that can be moved money around the world quickly and anonymously without the need for a central authority. That makes it attractive to those seeking to get around strict capital controls in countries like China. While China currently dominates the space, Chris Burniske, analyst at exchange traded fund manager ARK Invest, noted that bitcoin trading in Venezuela has also soared, rising seven-fold this year as inflation surged and the bolivar currency collapsed. Analysts said the groundwork for bitcoin gains was laid in July this year in a process called "halving", where the rewards offered to bitcoin miners shrink. That has constrained the supply of the digital currency. Bitcoin relies on so-called "mining" computers that validate blocks of transactions by competing to solve mathematical puzzles every 10 minutes. In return, the first to solve the puzzle and clear the transaction is rewarded new bitcoins. Before the halving in July, the miner's reward was 25 bitcoins. The bitcoin program was designed in such a way that it cut the reward for miners in half every four years, a move that was meant to keep a lid on inflation. "If you look back a couple of years when the mining rewards were halved as well, it did take a few months before the effect of the mining rewards kicked in," said KeepKey's Stanchfield. Stanchfield believes bitcoin could exceed the record high set in 2013 of more then $1,100. (Reporting by Gertrude Chavez-Dreyfuss,; additional reporting by Jemima Kelly in London; Editing by Andrew Hay) || Sports car drivers make for lousy hedge fund managers, according to new research: Fade the fund manager with the brand-new Maserati, put your faith in the one who just bought a Honda Odyssey.
At least, that's what a recent research paper from a trio of finance professors, entitled "Sensation Seeking, Sports Cars, and Hedge Funds," suggests.
"We find that hedge fund managers who own powerful sports cars take on more investment risk," wrote Yan Lu of the University of Central Florida, Sugata Ray of the University of Florida and Melvyn Teo of the Singapore Management University. "The incremental risk taking by performance car buyers does not translate to higher returns."
Lu, Ray and Tao are not out to obsess over the makes and models of various fund managers' rides. Rather, their principal point is about how the emotional makeup of those making investment decisions could impact outcomes.
"We argue that the purchase of a powerful sports car, more often than not, conveys the intent to drive in a spirited fashion and therefore signals an inclination for sensation seeking," they wrote, going on to show that these "sensation seekers" deliver strikingly more volatile returns, that are not more favorable in a risk-adjusted framework.
Interestingly, the converse is also true: Drivers of minivans tend to deliver less volatile returns, the authors found.
Bolstering their point, the authors further found that drivers of sports cars are more likely to terminate their funds and to report regulatory and criminal violations than the average fund manager — while drivers of "practical but unexciting cars" are less likely to do so.
The authors say that other factors such as fund age or the wealth level of the managers are not likely to explain the disparate results.
"The cars that people drive just provide another data point into who they are," Ray said in a Monday interview on CNBC's "Trading Nation." "In this case, [sports car buyers] reveal something about themselves, … and that is reflected in their funds taking more risk."
To generate their findings, the culled multiple sources of fund performance data, and "hand-collect[ed]" vehicle purchase information from the websiteVIN.place, which utilizes data from dealerships and auto insurance companies.
More From CNBC
• Bitcoin is surging – but that might not mean what you think
• It’s time to ditch one of the past year’s hottest trades
• This stock is up 100% in one year, but may still be cheap || Hackers Refining Tools For Attacking Banks: A letter from the Swift network to member banks warns hackers are refining their cyberattack tools and the global bank transfer system remains vulnerable. Reuters reported Monday the letter, dated Nov. 2, warned the threat is very persistent, adaptive and sophisticated and it is here to stay. Reuters said the letter is evidence the Belgium-based cooperative Society for Worldwide Interbank Financial Telecommunication remains vulnerable a year after $81 million was stolen from Bangladeshs central bank. Among the tactics now being used by hackers is software allowing technicians access to computers for technical support. "We unfortunately continue to see cases in which some of our customers environments are being compromised," the letter said, noting a meaningful number of attacks have been made on both central and commercial banks, and 20 percent of them have resulted in stolen funds. Bangladeshi officials told Reuters several central bank officials enabled the theft, which was the result of malware inserted into the banks system. Bitcoin News Service reported the central bank has managed to recoup a portion of the stolen funds from a casino in the Philippines. Investigators determined the money was sold on the black market to a foreign exchange broker who transferred the funds to three casinos. A Philippines court ordered the Solaire Resort and casino to surrender the money to Bangladesh. Some $10 million was handed over. A commercial bank in Ecuador said it was held up for $12 million last year. In Vietnam thieves tried and failed to make off with $1.1 million in what investigators said may have been a practice run for the attack on Bangladesh. Russia security services warned earlier this month that foreign spy agencies were preparing attacks on Russian banks in dozens of cities to destabilize the financial system of the Russian Federation. The Federal Security Bureau didnt specify who was preparing the attack. Related Articles After Hacks, Banks Push Swift To Boost Security New York Governor Issues Cybersecurity Proposal || Hackers Refining Tools For Attacking Banks: A letter from the Swift network to member banks warns hackers are refining their cyberattack tools and the global bank transfer system remains vulnerable. Reuters reported Monday the letter, dated Nov. 2, warned the threat is very persistent, adaptive and sophisticated and it is here to stay. Reuters said the letter is evidence the Belgium-based cooperative Society for Worldwide Interbank Financial Telecommunication remains vulnerable a year after $81 million was stolen from Bangladeshs central bank. Among the tactics now being used by hackers is software allowing technicians access to computers for technical support. "We unfortunately continue to see cases in which some of our customers environments are being compromised," the letter said, noting a meaningful number of attacks have been made on both central and commercial banks, and 20 percent of them have resulted in stolen funds. Bangladeshi officials told Reuters several central bank officials enabled the theft, which was the result of malware inserted into the banks system. Bitcoin News Service reported the central bank has managed to recoup a portion of the stolen funds from a casino in the Philippines. Investigators determined the money was sold on the black market to a foreign exchange broker who transferred the funds to three casinos. A Philippines court ordered the Solaire Resort and casino to surrender the money to Bangladesh. Some $10 million was handed over. A commercial bank in Ecuador said it was held up for $12 million last year. In Vietnam thieves tried and failed to make off with $1.1 million in what investigators said may have been a practice run for the attack on Bangladesh. Russia security services warned earlier this month that foreign spy agencies were preparing attacks on Russian banks in dozens of cities to destabilize the financial system of the Russian Federation. The Federal Security Bureau didnt specify who was preparing the attack. Related Articles After Hacks, Banks Push Swift To Boost Security New York Governor Issues Cybersecurity Proposal
[Social Media Buzz]
#bitcoin #inglês $800.00 via /r/Bitcoin http://ift.tt/2hRcoAQ || 1 KOBO = 0.00000128 BTC
= 0.0000 USD
= 0.0000 NGN
= 0.0000 ZAR
= 0.0000 KES
#Kobocoin 2016-12-20 14:00 pic.twitter.com/5MbZaBMUSk || Winkdex Bitcoin price changed +0.52% to $790.00 #bitcoin || $792.86 at 15:15 UTC [24h Range: $787.69 - $795.00 Volume: 2805 BTC] || #ChainCoin #CHC $0.000088 (0.67%) 0.00000011 BTC (0.00%) || One Bitcoin now worth $790.98@bitstamp. High $795.00. Low $787.10. Market Cap $12.697 Billion #bitc...
|
834.28, 864.54, 921.98, 898.82, 896.18, 907.61, 933.20, 975.92, 973.50, 961.24
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Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 1555.45, 1578.80, 1596.71, 1723.35, 1755.36, 1787.13, 1848.57, 1724.24, 1804.91, 1808.91, 1738.43, 1734.45, 1839.09, 1888.65, 1987.71, 2084.73, 2041.20, 2173.40, 2320.42, 2443.64, 2304.98, 2202.42, 2038.87, 2155.80, 2255.61, 2175.47, 2286.41, 2407.88, 2488.55, 2515.35, 2511.81, 2686.81, 2863.20, 2732.16, 2805.62, 2823.81, 2947.71, 2958.11, 2659.63, 2717.02, 2506.37, 2464.58, 2518.56, 2655.88, 2548.29, 2589.60, 2721.79, 2689.10, 2705.41, 2744.91, 2608.72, 2589.41, 2478.45, 2552.45, 2574.79, 2539.32, 2480.84, 2434.55, 2506.47, 2564.06, 2601.64, 2601.99, 2608.56, 2518.66, 2571.34, 2518.44, 2372.56, 2337.79, 2398.84, 2357.90, 2233.34, 1998.86, 1929.82, 2228.41, 2318.88, 2273.43, 2817.60, 2667.76, 2810.12, 2730.40, 2754.86, 2576.48, 2529.45, 2671.78, 2809.01, 2726.45, 2757.18, 2875.34, 2718.26, 2710.67.
|
[Bitcoin Technical Analysis for 2017-08-02]
Volume: 1094950016, RSI (14-day): 53.80, 50-day EMA: 2516.79, 200-day EMA: 1860.33
[Wider Market Context]
Gold Price: 1271.80, Gold RSI: 66.64
Oil Price: 49.59, Oil RSI: 63.34
[Recent News (last 7 days)]
Bitcoin feud splits the currency in two: This morning, bitcoin split into two currencies -- the original and Bitcoin Cash. The hard forking, as it's known, resulted from heated debate over the cryptocurrency's future, since the aging tech behind blockchain has prevented easy scaling. While a new code upgrade called SegWit2x wasintroducedlast week as a compromise, dissenters still decided to start backing Bitcoin Cash and fork off in their own direction. The community anxiously waited for financial fallout after the schism, but aside from a temporary 7 percentdropin bitcoin value this morning, the split seems to haveavoideddisaster. Whether Bitcoin Cash sticks around is another question.
The spat is rooted in bitcoin's success: A year ago, bitcoin's value hovered around $500 and slowly climbed through the new year, but started shooting up in April to top out at $3,000 in June. That led to a higher volume of transactions, which the blockchain technology -- the cryptocurrency's ledger that verifies and tracks transactions, recording the latest in unchangeable "blocks" -- was struggling to keep up with. The bitcoin network can only support 1MB per minute or seven transactions per second,accordingtoThe Telegraph, which is paltry compared to the thousands per second run through financial webs supporting credit cards, for example. To keep bitcoin growing, this number would have to go up.
But the cryptocurrency community was split on how to do it. Two competing strategies arose: Increase each block's code limit, which would store more data per block but increase server loads processing transactions, or shift smaller transactions outside the blockchain. The SegWit2x tech includes a bit of both, pushing some data outside the main network and promising to double the block size to 2MB by November. It was enough of a compromise to avert a serious and widespread cleft in the community.
That wasn't enough for some, who started backing Bitcoin Cash, which chose the former route and increased its blocks to 8MB. Today's hard fork, which essentially launched the cryptocurrency into being, boosted its value from $200 to $370. Some bitcoin exchanges, where users make transactions and store their coins, will recognize Bitcoin Cash, including Kraken and ViaBTC -- but others like Coinbase and Poloniex said they wouldn't as they're uncertain it'll stick around. If you're still not sure what this means foryoursupply of cryptocurrency, there are plenty of resources online to help, including Coindesk'sguidefor the transition.
The future of the brand-new cryptocurrency depends on more users and investors supporting it, and it's not clear whether it will survive into the future. For now, split from bitcoin, Bitcoin Cash must jockey with the other alternatives to the leading cryptocurrency like Ethereum and Litecoin. || Bitcoin feud splits the currency in two: This morning, bitcoin split into two currencies -- the original and Bitcoin Cash. The hard forking, as it's known, resulted from heated debate over the cryptocurrency's future, since the aging tech behind blockchain has prevented easy scaling. While a new code upgrade called SegWit2x was introduced last week as a compromise, dissenters still decided to start backing Bitcoin Cash and fork off in their own direction. The community anxiously waited for financial fallout after the schism, but aside from a temporary 7 percent drop in bitcoin value this morning, the split seems to have avoided disaster. Whether Bitcoin Cash sticks around is another question. The spat is rooted in bitcoin's success: A year ago, bitcoin's value hovered around $500 and slowly climbed through the new year, but started shooting up in April to top out at $3,000 in June. That led to a higher volume of transactions, which the blockchain technology -- the cryptocurrency's ledger that verifies and tracks transactions, recording the latest in unchangeable "blocks" -- was struggling to keep up with. The bitcoin network can only support 1MB per minute or seven transactions per second, according to The Telegraph , which is paltry compared to the thousands per second run through financial webs supporting credit cards, for example. To keep bitcoin growing, this number would have to go up. But the cryptocurrency community was split on how to do it. Two competing strategies arose: Increase each block's code limit, which would store more data per block but increase server loads processing transactions, or shift smaller transactions outside the blockchain. The SegWit2x tech includes a bit of both, pushing some data outside the main network and promising to double the block size to 2MB by November. It was enough of a compromise to avert a serious and widespread cleft in the community. That wasn't enough for some, who started backing Bitcoin Cash, which chose the former route and increased its blocks to 8MB. Today's hard fork, which essentially launched the cryptocurrency into being, boosted its value from $200 to $370. Some bitcoin exchanges, where users make transactions and store their coins, will recognize Bitcoin Cash, including Kraken and ViaBTC -- but others like Coinbase and Poloniex said they wouldn't as they're uncertain it'll stick around. If you're still not sure what this means for your supply of cryptocurrency, there are plenty of resources online to help, including Coindesk's guide for the transition. The future of the brand-new cryptocurrency depends on more users and investors supporting it, and it's not clear whether it will survive into the future. For now, split from bitcoin, Bitcoin Cash must jockey with the other alternatives to the leading cryptocurrency like Ethereum and Litecoin. View comments || Bitcoin feud splits the currency in two: This morning, bitcoin split into two currencies -- the original and Bitcoin Cash. The hard forking, as it's known, resulted from heated debate over the cryptocurrency's future, since the aging tech behind blockchain has prevented easy scaling. While a new code upgrade called SegWit2x wasintroducedlast week as a compromise, dissenters still decided to start backing Bitcoin Cash and fork off in their own direction. The community anxiously waited for financial fallout after the schism, but aside from a temporary 7 percentdropin bitcoin value this morning, the split seems to haveavoideddisaster. Whether Bitcoin Cash sticks around is another question.
The spat is rooted in bitcoin's success: A year ago, bitcoin's value hovered around $500 and slowly climbed through the new year, but started shooting up in April to top out at $3,000 in June. That led to a higher volume of transactions, which the blockchain technology -- the cryptocurrency's ledger that verifies and tracks transactions, recording the latest in unchangeable "blocks" -- was struggling to keep up with. The bitcoin network can only support 1MB per minute or seven transactions per second,accordingtoThe Telegraph, which is paltry compared to the thousands per second run through financial webs supporting credit cards, for example. To keep bitcoin growing, this number would have to go up.
But the cryptocurrency community was split on how to do it. Two competing strategies arose: Increase each block's code limit, which would store more data per block but increase server loads processing transactions, or shift smaller transactions outside the blockchain. The SegWit2x tech includes a bit of both, pushing some data outside the main network and promising to double the block size to 2MB by November. It was enough of a compromise to avert a serious and widespread cleft in the community.
That wasn't enough for some, who started backing Bitcoin Cash, which chose the former route and increased its blocks to 8MB. Today's hard fork, which essentially launched the cryptocurrency into being, boosted its value from $200 to $370. Some bitcoin exchanges, where users make transactions and store their coins, will recognize Bitcoin Cash, including Kraken and ViaBTC -- but others like Coinbase and Poloniex said they wouldn't as they're uncertain it'll stick around. If you're still not sure what this means foryoursupply of cryptocurrency, there are plenty of resources online to help, including Coindesk'sguidefor the transition.
The future of the brand-new cryptocurrency depends on more users and investors supporting it, and it's not clear whether it will survive into the future. For now, split from bitcoin, Bitcoin Cash must jockey with the other alternatives to the leading cryptocurrency like Ethereum and Litecoin. || The most important thing SoundCloud can do to save itself: SoundCloud is one of the worlds most popular music services. Its kind of like the YouTube for music, in that it lets anyone post any kind of audio: rough cuts from famous musicians, mixes from obscure DJs, independent tracks of every kind. Every month, 175 million people dip in for free listening to cool new music. Unfortunately, nowhere in that description will you find any indication of how such a service makes money. And SoundCloud isnt making enough. It may need to find a wealthy company to acquire it so it can survive. In 2015, the company lost $52 million , and now things are looking grim. Last month, SoundCloud laid off 40% of its staff , and closed its offices in San Francisco and London. A devastating TechCrunch article on July 12 estimated it had enough cash to last for, at best, another 80 days. The company has tried advertising; its tried a Spotify-style subscription service; three times, its reportedly been at the negotiation table to sell itself to a bigger companyTwitter ( TWTR ), Deezer, and Spotify. Each time, the deal fell apart when SoundCloud set a price that was too high for the buyer. Meanwhile, a group called the Archive Team, whose specialty is backing up services that are shutting down, like GeoCities and Google Video, has promised to back up SoundCloud . (SoundCloud has ordered them to stop , insisting that its future is fine.) At this moment, Bloomberg says that SoundCloud is in talks to be bought by two unnamed private equity firms; if that deal goes through, SoundCloud would soldier on that way, but lose its independence. SoundCloud has that long history of killing deals, but it would do well to remember that YouTube itself would probably not be around if Google hadnt bought it. Sometimes, the only way a struggling artist can surviveor struggling artists platformis by teaming up with a wealthier partner. If it worked for patrons in Mozarts era, it can work now. More from David Pogue: Is through-the-air charging a hoax? Story continues Electrify your existing bike in 2 minutes with these ingenious wheels Marty Cooper, inventor of the cellphone: The next step is implantables The David Pogue Review: Windows 10 Creators Update Now I get it: Bitcoin David Pogues search for the worlds best air-travel app The little-known iPhone feature that lets blind people see with their fingers David Pogue, tech columnist for Yahoo Finance, welcomes nontoxic comments in the comments section below. On the web, hes davidpogue.com . On Twitter, hes @pogue . On email, hes poguester@yahoo.com. You can read all his articles here , or you can sign up to get his columns by email . || The most important thing SoundCloud can do to save itself: SoundCloud is one of the worlds most popular music services. Its kind of like the YouTube for music, in that it lets anyone post any kind of audio: rough cuts from famous musicians, mixes from obscure DJs, independent tracks of every kind. Every month, 175 million people dip in for free listening to cool new music. Unfortunately, nowhere in that description will you find any indication of how such a service makes money. And SoundCloud isnt making enough. It may need to find a wealthy company to acquire it so it can survive. In 2015, the company lost $52 million , and now things are looking grim. Last month, SoundCloud laid off 40% of its staff , and closed its offices in San Francisco and London. A devastating TechCrunch article on July 12 estimated it had enough cash to last for, at best, another 80 days. The company has tried advertising; its tried a Spotify-style subscription service; three times, its reportedly been at the negotiation table to sell itself to a bigger companyTwitter ( TWTR ), Deezer, and Spotify. Each time, the deal fell apart when SoundCloud set a price that was too high for the buyer. Meanwhile, a group called the Archive Team, whose specialty is backing up services that are shutting down, like GeoCities and Google Video, has promised to back up SoundCloud . (SoundCloud has ordered them to stop , insisting that its future is fine.) At this moment, Bloomberg says that SoundCloud is in talks to be bought by two unnamed private equity firms; if that deal goes through, SoundCloud would soldier on that way, but lose its independence. SoundCloud has that long history of killing deals, but it would do well to remember that YouTube itself would probably not be around if Google hadnt bought it. Sometimes, the only way a struggling artist can surviveor struggling artists platformis by teaming up with a wealthier partner. If it worked for patrons in Mozarts era, it can work now. More from David Pogue: Is through-the-air charging a hoax? Story continues Electrify your existing bike in 2 minutes with these ingenious wheels Marty Cooper, inventor of the cellphone: The next step is implantables The David Pogue Review: Windows 10 Creators Update Now I get it: Bitcoin David Pogues search for the worlds best air-travel app The little-known iPhone feature that lets blind people see with their fingers David Pogue, tech columnist for Yahoo Finance, welcomes nontoxic comments in the comments section below. On the web, hes davidpogue.com . On Twitter, hes @pogue . On email, hes poguester@yahoo.com. You can read all his articles here , or you can sign up to get his columns by email . || Bitcoin falls, new 'bitcoin cash' briefly leaps nearly 50% then dives as digital currency splits: Bitcoin (Exchange: BTC=-USS) traded slightly lower Tuesday as digital currency miners completed a split of the digital currency and worked to create more of the new, split-off coin called bitcoin cash. "A Bitcoin block was just mined that's invalid for Bitcoin Cash nodes! [That] means the chain has now forked. Bitcoin Cash is one block behind," Bitcoin Magazine said on its liveblog at 9:24 a.m., ET. Ethereum creator Vitalik Buterin co-founded the magazine in 2012. Bitcoin data website btcforkmonitor.info also confirmed the split. Futures for the new "bitcoin cash," an alternative version promoted by a minority of developers, gave back all of an initial 48 percent jump to $422 to drop about 26 percent and trade near $214 as of 4:55 p.m., ET, according to CoinMarketCap. Trading in bitcoin cash was available on some exchanges, but remained a fraction of bitcoin's price. Kraken Exchange, which has about 10 percent of U.S.-dollar bitcoin trade volume, showed on its website that trades for bitcoin cash were pricing the new coin around $197. "Bitcoin Cash will have to prove itself over time and gain trust from users," Amaury Sechet, lead developer behind bitcoin cash, told CNBC. "The current price may [seem] low but this is actually an amazing level of support." Bitcoin cash futures 1-day performance Source: CoinMarketCap Within six hours of the split, digital currency mining and trading firm ViaBTC one of the few supporters of bitcoin cash showed on its website that miners had completed three blocks for the new digital coin. The block is part of the blockchain technology on which digital currencies like bitcoin are based, and the initial lag in block completion had worried some digital currency enthusiasts. "The fact the block is taking so long is making people reevaluate," said Stefan Thomas, chief technology officer for financial technology firm Ripple, which has its own digital currency. Thomas noted miners could give up on trying to mine bitcoin cash, halting its development. However, the bigger question for him was "whether bitcoin has solved its long-term governance issue or kicked the can down the road." Story continues Tuesday's bitcoin split was planned by a few who disagreed with a more popular upgrade proposal called SegWit2x, which is set to fully implement this fall. Bitcoin traded 4 percent lower near $2,754 after dropping to a low of $2,670 earlier in the morning, according to CoinDesk. The digital currency rose more than 10 percent in July and has more than doubled in value this year. Ethereum (Exchange: ETH=) gained nearly 12 percent to trade near $229, according to CoinDesk. Bitcoin 1-day performance Source: CoinDesk Digital currency "miners" could officially begin coding the new bitcoin cash blockchain after 8:20 a.m., ET Tuesday. Analysts had estimated the split into bitcoin and "bitcoin cash " would occur by around 10 a.m. Direct holders of bitcoin should have received both versions of the currency after the split. However, Coinbase said it will not support the new bitcoin cash. The firm operates the GDAX exchange, which said in the afternoon that bitcoin deposits and withdrawals were available again after a temporary suspension in anticipation of the split. Bitfinex, which has nearly a third of U.S.-dollar bitcoin trade volume, tweeted mid-Tuesday morning that it re-enabled bitcoin deposits and withdrawals. The exchange earlier suspended bitcoin deposits ahead of the split. Bitfinex said in a separate blog post Tuesday that it will decide whether to list bitcoin cash "based on how the situation evolves." Tweetbit Tweet WATCH: Here's why a BitcoinIRA is enticing some to risk their savings More From CNBC Dish Network becomes latest telecom stock to spike on report SoftBank may buy it Bitcoin 'mining' goes from enthusiasts to giant enterprises Goldman CFO: Market for bond trading has not improved since second quarter || Bitcoin falls, new 'bitcoin cash' briefly leaps nearly 50% then dives as digital currency splits: Bitcoin(Exchange: BTC=-USS)traded slightly lower Tuesday as digital currency miners completed a split of the digital currency and worked to create more of the new, split-off coin called bitcoin cash.
"A Bitcoin block was just mined that's invalid for Bitcoin Cash nodes! [That] means the chain has now forked. Bitcoin Cash is one block behind," Bitcoin Magazine said on its liveblog at 9:24 a.m., ET. Ethereum creator Vitalik Buterin co-founded the magazine in 2012.
Bitcoin data website btcforkmonitor.info also confirmed the split.
Futures for the new "bitcoin cash," an alternative version promoted by a minority of developers, gave back all of an initial 48 percent jump to $422 to drop about 26 percent and trade near $214 as of 4:55 p.m., ET, according to CoinMarketCap.
Trading in bitcoin cash was available on some exchanges, but remained a fraction of bitcoin's price.
Kraken Exchange, which has about 10 percent of U.S.-dollar bitcoin trade volume, showed on its website that trades for bitcoin cash were pricing the new coin around $197.
"Bitcoin Cash will have to prove itself over time and gain trust from users," Amaury Sechet, lead developer behind bitcoin cash, told CNBC. "The current price may [seem] low but this is actually an amazing level of support."
Bitcoin cash futures 1-day performance
Source: CoinMarketCap
Within six hours of the split, digital currency mining and trading firm ViaBTC — one of the few supporters of bitcoin cash — showed on its website that miners had completed three blocks for the new digital coin. The block is part of the blockchain technology on which digital currencies like bitcoin are based, and the initial lag in block completion had worried some digital currency enthusiasts.
"The fact the block is taking so long is making people reevaluate," said Stefan Thomas, chief technology officer for financial technology firm Ripple, which has its own digital currency.
Thomas noted miners could give up on trying to mine bitcoin cash, halting its development. However, the bigger question for him was "whether bitcoin has solved its long-term governance issue or kicked the can down the road."
Tuesday's bitcoin split was planned by a few who disagreed with a more popular upgrade proposal called SegWit2x, which is set to fully implement this fall.
Bitcoin traded 4 percent lower near $2,754 after dropping to a low of $2,670 earlier in the morning, according to CoinDesk. The digital currency rose more than 10 percent in July and has more than doubled in value this year.
Ethereum(Exchange: ETH=)gained nearly 12 percent to trade near $229, according to CoinDesk.
Bitcoin 1-day performance
Source: CoinDesk
Digital currency "miners" could officially begin coding the new bitcoin cash blockchain after 8:20 a.m., ET Tuesday. Analysts had estimated thesplit into bitcoin and "bitcoin cash" would occur by around 10 a.m.
Direct holders of bitcoin should have received both versions of the currency after the split.
However, Coinbase said it will not support the new bitcoin cash. The firm operates the GDAX exchange, which said in the afternoon that bitcoin deposits and withdrawals were available again after a temporary suspension in anticipation of the split.
Bitfinex, which has nearly a third of U.S.-dollar bitcoin trade volume, tweeted mid-Tuesday morning that it re-enabled bitcoin deposits and withdrawals. The exchange earlier suspended bitcoin deposits ahead of the split.
Bitfinex said in a separate blog post Tuesday that it will decide whether to list bitcoin cash "based on how the situation evolves."
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• Dish Network becomes latest telecom stock to spike on report SoftBank may buy it
• Bitcoin 'mining' goes from enthusiasts to giant enterprises
• Goldman CFO: Market for bond trading has not improved since second quarter || Bitcoin falls, new 'bitcoin cash' briefly leaps nearly 50% then dives as digital currency splits: Bitcoin(Exchange: BTC=-USS)traded slightly lower Tuesday as digital currency miners completed a split of the digital currency and worked to create more of the new, split-off coin called bitcoin cash.
"A Bitcoin block was just mined that's invalid for Bitcoin Cash nodes! [That] means the chain has now forked. Bitcoin Cash is one block behind," Bitcoin Magazine said on its liveblog at 9:24 a.m., ET. Ethereum creator Vitalik Buterin co-founded the magazine in 2012.
Bitcoin data website btcforkmonitor.info also confirmed the split.
Futures for the new "bitcoin cash," an alternative version promoted by a minority of developers, gave back all of an initial 48 percent jump to $422 to drop about 26 percent and trade near $214 as of 4:55 p.m., ET, according to CoinMarketCap.
Trading in bitcoin cash was available on some exchanges, but remained a fraction of bitcoin's price.
Kraken Exchange, which has about 10 percent of U.S.-dollar bitcoin trade volume, showed on its website that trades for bitcoin cash were pricing the new coin around $197.
"Bitcoin Cash will have to prove itself over time and gain trust from users," Amaury Sechet, lead developer behind bitcoin cash, told CNBC. "The current price may [seem] low but this is actually an amazing level of support."
Bitcoin cash futures 1-day performance
Source: CoinMarketCap
Within six hours of the split, digital currency mining and trading firm ViaBTC — one of the few supporters of bitcoin cash — showed on its website that miners had completed three blocks for the new digital coin. The block is part of the blockchain technology on which digital currencies like bitcoin are based, and the initial lag in block completion had worried some digital currency enthusiasts.
"The fact the block is taking so long is making people reevaluate," said Stefan Thomas, chief technology officer for financial technology firm Ripple, which has its own digital currency.
Thomas noted miners could give up on trying to mine bitcoin cash, halting its development. However, the bigger question for him was "whether bitcoin has solved its long-term governance issue or kicked the can down the road."
Tuesday's bitcoin split was planned by a few who disagreed with a more popular upgrade proposal called SegWit2x, which is set to fully implement this fall.
Bitcoin traded 4 percent lower near $2,754 after dropping to a low of $2,670 earlier in the morning, according to CoinDesk. The digital currency rose more than 10 percent in July and has more than doubled in value this year.
Ethereum(Exchange: ETH=)gained nearly 12 percent to trade near $229, according to CoinDesk.
Bitcoin 1-day performance
Source: CoinDesk
Digital currency "miners" could officially begin coding the new bitcoin cash blockchain after 8:20 a.m., ET Tuesday. Analysts had estimated thesplit into bitcoin and "bitcoin cash" would occur by around 10 a.m.
Direct holders of bitcoin should have received both versions of the currency after the split.
However, Coinbase said it will not support the new bitcoin cash. The firm operates the GDAX exchange, which said in the afternoon that bitcoin deposits and withdrawals were available again after a temporary suspension in anticipation of the split.
Bitfinex, which has nearly a third of U.S.-dollar bitcoin trade volume, tweeted mid-Tuesday morning that it re-enabled bitcoin deposits and withdrawals. The exchange earlier suspended bitcoin deposits ahead of the split.
Bitfinex said in a separate blog post Tuesday that it will decide whether to list bitcoin cash "based on how the situation evolves."
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• Dish Network becomes latest telecom stock to spike on report SoftBank may buy it
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• Goldman CFO: Market for bond trading has not improved since second quarter || Two major indices are poised for a pullback, analyst says: With the Dow Jones Industrial Average(Dow Jones Global Indexes: .DJI)approaching the 22,000 mark, both the Dow and Dow Transports(Dow Jones Global Indexes: .DJT)are due for a pullback.
"This would be a natural place for a pullback for both of the major indices, and I say that in part for the Dow Industrials," Katie Stockton, chief technical strategist at BTIG, said Tuesday on CNBC's "Power Lunch." "If you look at a one-year chart, you can see that they're approaching some resistance or potential resistance around 22,000. That's a round number."
"You'll notice at past round numbers — 21,000, 20,000 — there was some short-term resistance at those levels, so it would be a very natural place to see a pullback for the Dow Industrials and for the S&P 500(INDEX: .SPX)," Stockton said.
Stockton also dismissed concerns about the divergence between Industrials and Transports influencing a pullback.
"I know a lot of people talk about Dow theory, whenever you get a divergence between the Transports and the Industrials, but I wouldn't read too much into it," Stockton said. "I think that Transports, while they might exhibit downside leadership during pullback, I don't see it as a big warning signal here."
The technical analyst also noted that overbought stocks such as stocks in technology and transports have been major Dow leaders, but may have a reason to be concerned.
"I am concerned about the mean reversion we have already started to see, where the overbought stocks — like the Facebooks(NASDAQ: FB)of the world, or the Boeings(NYSE: BA)of the world — that have really run up, they're looking somewhat overextended here," Stockton said.
"Whereas you're catching a bid in the more oversold areas in the market, say, energy, or retail," she said, "so I think that will persist. But really just for the next couple weeks, and that then will ultimately give way to a buying opportunity."
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• Goldman CFO: Market for bond trading has not improved since second quarter || Two major indices are poised for a pullback, analyst says: With the Dow Jones Industrial Average (Dow Jones Global Indexes: .DJI) approaching the 22,000 mark, both the Dow and Dow Transports (Dow Jones Global Indexes: .DJT) are due for a pullback. "This would be a natural place for a pullback for both of the major indices, and I say that in part for the Dow Industrials," Katie Stockton, chief technical strategist at BTIG, said Tuesday on CNBC's " Power Lunch ." "If you look at a one-year chart, you can see that they're approaching some resistance or potential resistance around 22,000. That's a round number." "You'll notice at past round numbers — 21,000, 20,000 — there was some short-term resistance at those levels, so it would be a very natural place to see a pullback for the Dow Industrials and for the S&P 500 (INDEX: .SPX) ," Stockton said. Stockton also dismissed concerns about the divergence between Industrials and Transports influencing a pullback. "I know a lot of people talk about Dow theory, whenever you get a divergence between the Transports and the Industrials, but I wouldn't read too much into it," Stockton said. "I think that Transports, while they might exhibit downside leadership during pullback, I don't see it as a big warning signal here." The technical analyst also noted that overbought stocks such as stocks in technology and transports have been major Dow leaders, but may have a reason to be concerned. "I am concerned about the mean reversion we have already started to see, where the overbought stocks — like the Facebooks (NASDAQ: FB) of the world, or the Boeings (NYSE: BA) of the world — that have really run up, they're looking somewhat overextended here," Stockton said. "Whereas you're catching a bid in the more oversold areas in the market, say, energy, or retail," she said, "so I think that will persist. But really just for the next couple weeks, and that then will ultimately give way to a buying opportunity." More From CNBC Dish Network becomes latest telecom stock to spike on report SoftBank may buy it Bitcoin 'mining' goes from enthusiasts to giant enterprises Goldman CFO: Market for bond trading has not improved since second quarter || Bitcoin splits in 2: Bitcoin (Bitcoin-themed balloons at the "Inside Bitcoins: The Future of Virtual Currency Conference" in New York.Reuters/Lucas Jackson) Bitcoin power brokers were unable to come behind a single solution that would have preserved a unified cryptocurrency by Tuesday morning's deadline. As such, the digital currency has officially forked and split in two: bitcoin cash and bitcoin. Miners were able to seek out bitcoin cash beginning Tuesday morning, and the cryptocurrency-focused news website CoinDesk said the first bitcoin cash was mined at about 2:20 p.m. ET. "There seems to be some technical issues that might be slowing it down, but yes, the fork has happened," Peter Borovykh of Blockchain Driven, a blockchain technology company, told Business Insider earlier on Tuesday. Miners are the folks who solve complex computer problems using software to unleash digital coins into the market. It took a couple of hours after the official fork for miners to unlock the first bitcoin cash coins. "It seems as if people overestimated the mining power, or the support from miners hence, it is taking far longer than most expected," Iqbal Gandham, the UK managing director at the social investment network eToro, said in a statement sent to Business Insider just before the split. Bitcoin was the first digital currency built on blockchain technology, in which transactions are independently verified by the network without the need of a middleman like a bank. Bitcoin cash is built on the same blockchain network as bitcoin, but the new software increases the size of the "blocks" that make up the network to allow it to process more information. Supporters of the newly formed bitcoin cash believe the currency will " breath new life into " the nearly 10-year-old bitcoin by addressing some of the issues facing bitcoin of late, such as slow transaction speeds. Bitcoin power brokers have been squabbling over the rules that should guide the cryptocurrency's blockchain network. On one side are the so-called core developers. They are in favor of smaller bitcoin blocks, which they say are less vulnerable to hacking. On the other side are the miners, who want to increase the size of blocks to make the network faster and more scalable. Until last week, the solution known as Segwit2x, which would double the size of bitcoin blocks to 2 megabytes, seemed to have universal support. Servers for data storage are seen at Advania's Thor Data Center in Hafnarfjordur, Iceland August 7, 2015. REUTERS/Sigtryggur Ari (Servers for data storage seen at Advania's Thor Data Center in Hafnarfjordur, Iceland.Thomson Reuters) Then bitcoin cash came along. The solution is a fork of the bitcoin system. The new software has all the history of the old platform; however, bitcoin cash blocks have a capacity 8 megabytes. Story continues Bitcoin cash came out of left field, according to Charles Morris, a chief investment officer of NextBlock Global, an investment firm with digital assets. "A group of miners who didn't like SegWit2x are opting for this new software that will increase the size of blocks from the current 1 megabyte to 8," Morris told Business Insider. To be sure, only a minority of bitcoin miners and bitcoin exchanges have said they will support the new currency. Investors who have their bitcoin on exchanges or wallets that support the new currency will soon see their holdings double, with one unit in bitcoin cash added for every bitcoin. But that doesn't mean the value of investors' holdings will double. Because bitcoin cash will initially draw its value from bitcoin's market cap, it will most likely cause bitcoin's value to drop by an amount proportional to its adoption. Bitcoin was already trading down by 5.78% at $2,715 on Tuesday following word that bitcoin cash had gone live . Morris told Business Insider that bitcoin cash was trading in the futures market for about $200 to $400 last week, suggesting that's the range it would fall in during regular trading. Kraken , a bitcoin exchange, tweeted Tuesday morning that it was experiencing delays getting bitcoin cash to show on user's accounts. "Please note," the exchange said , that bitcoin cash "balances have not been credit yet." It added that it was "working to credit as soon as possible." Numerous exchanges have said they won't back bitcoin cash. "In the event of two separate blockchains after August 1, 2017 we will only support one version," David Farmer, the director of Biz Ops at Coinbase, a cryptocurrency exchange, wrote in a blog post . "We have no plans to support the bitcoin cash fork." Coinbase has served nearly 9 million customers across 32 countries, according to the firm's website . The firm has enabled the exchange of over $20 billion worth of digital currency. But just because some big players won't get behind it doesn't necessarily mean bitcoin cash will be a dud or that it couldn't eventually usurp the original bitcoin. Miners may rally behind bitcoin cash if it turns out to be the better digital currency. "Bitcoin cash has a chance to become the dominant cryptocurrency contingent upon its ability to gain trust and support from both current and new players as well as security of its network," Borovykh of Blockchain Driven said. "Due to, at least temporary, solution of the scalability issues, bitcoin cash could attract more new capital to the entire crypto space, thus helping increase overall market cap." Arthur Hayes, the CEO of BitMEX , a bitcoin derivative exchange, told Business Insider he thought a fork would benefit the cryptocurrency in the long run after some short-term volatility and confusion. "There are people with billions of dollars of skin in the game," Hayes said. "And they will ultimately go with the superior bitcoin network, and the market will follow." NOW WATCH: THE BOTTOM LINE: New record highs for stocks and a deep dive into Apple's iPhone More From Business Insider Bitcoin's meteoric rise is costing some investors billions Bitcoin cash is crashing Bitcoin cash may be a house of cards that comes crashing down View comments || Bitcoin splits in 2: (Bitcoin-themed balloons at the "Inside Bitcoins: The Future of Virtual Currency Conference" in New York.Reuters/Lucas Jackson)
Bitcoinpower brokers were unable to come behind a single solution that would have preserved a unified cryptocurrency by Tuesday morning's deadline.
As such, the digital currency has officially forked and split in two: bitcoin cash and bitcoin.
Miners were able to seek out bitcoin cash beginning Tuesday morning, and the cryptocurrency-focused news website CoinDesksaid the first bitcoin cashwas mined at about 2:20 p.m. ET.
"There seems to be some technical issues that might be slowing it down, but yes, the fork has happened," Peter Borovykh of Blockchain Driven, a blockchain technology company, told Business Insider earlier on Tuesday.
Miners are the folks who solve complex computer problems using software to unleash digital coins into the market. It took a couple of hours after the official fork for miners to unlock the first bitcoin cash coins.
"It seems as if people overestimated the mining power, or the support from miners — hence, it is taking far longer than most expected," Iqbal Gandham, the UK managing director at the social investment network eToro, said in a statement sent to Business Insider just before the split.
Bitcoin was the first digital currency built on blockchain technology, in which transactions are independently verified by the network without the need of a middleman like a bank. Bitcoin cash is built on the same blockchain network as bitcoin, but the new software increases the size of the "blocks" that make up the network to allow it to process more information.
Supporters of the newly formed bitcoin cash believe the currency will "breath new life into" the nearly 10-year-old bitcoin by addressing some of the issues facing bitcoin of late, such as slow transaction speeds.
Bitcoin power brokers have been squabbling over the rulesthat should guide the cryptocurrency's blockchain network.
On one side are the so-called core developers. They are in favor of smaller bitcoin blocks, which they say are less vulnerable to hacking. On the other side are the miners, who want to increase the size of blocks to make the network faster and more scalable.
Until last week, the solution known as Segwit2x, which would double the size of bitcoin blocks to 2 megabytes, seemed to have universal support.
(Servers for data storage seen at Advania's Thor Data Center in Hafnarfjordur, Iceland.Thomson Reuters)
Then bitcoin cash came along. The solution is a fork of the bitcoin system. The new software has all the history of the old platform; however, bitcoin cash blocks have a capacity 8 megabytes.
Bitcoin cash came out of left field, according to Charles Morris, a chief investment officer of NextBlock Global, an investment firm with digital assets.
"A group of miners who didn't like SegWit2x are opting for this new software that will increase the size of blocks from the current 1 megabyte to 8," Morris told Business Insider.
To be sure, only a minority of bitcoin miners and bitcoin exchanges have said they will support the new currency.
Investors who have their bitcoin on exchanges or wallets that support the new currency will soon see their holdings double, with one unit in bitcoin cash added for every bitcoin. But that doesn't mean the value of investors' holdings will double.
Because bitcoin cash will initially draw its value from bitcoin's market cap, it will most likely cause bitcoin's value to drop by an amount proportional to its adoption.Bitcoinwas alreadytrading down by 5.78% at $2,715on Tuesday following word thatbitcoin cash had gone live. Morris told Business Insider that bitcoin cash was trading in the futures market for about $200 to $400 last week, suggesting that's the range it would fall in during regular trading.
Kraken, a bitcoin exchange, tweeted Tuesday morning that it was experiencing delays getting bitcoin cash to show on user's accounts.
"Please note," theexchange said, that bitcoin cash "balances have not been credit yet." It added that it was "working to credit as soon as possible."
Numerous exchangeshave said they won't back bitcoin cash.
"In the event of two separate blockchains after August 1, 2017 we will only support one version," David Farmer, the director of Biz Ops at Coinbase, a cryptocurrency exchange, wrote in ablog post. "We have no plans to support the bitcoin cash fork."
Coinbase has served nearly 9 million customers across 32 countries, according to the firm'swebsite. The firm has enabled the exchange of over $20 billion worth of digital currency.
But just because some big players won't get behind it doesn't necessarily mean bitcoin cash will be a dud or that it couldn't eventually usurp the original bitcoin. Miners may rally behind bitcoin cash if it turns out to be the better digital currency.
"Bitcoin cash has a chance to become the dominant cryptocurrency contingent upon its ability to gain trust and support from both current and new players as well as security of its network," Borovykh of Blockchain Driven said. "Due to, at least temporary, solution of the scalability issues, bitcoin cash could attract more new capital to the entire crypto space, thus helping increase overall market cap."
Arthur Hayes, the CEO ofBitMEX, a bitcoin derivative exchange, told Business Insider he thought a fork would benefit the cryptocurrency in the long run after some short-term volatility and confusion.
"There are people with billions of dollars of skin in the game," Hayes said. "And they will ultimately go with the superior bitcoin network, and the market will follow."
NOW WATCH:THE BOTTOM LINE: New record highs for stocks and a deep dive into Apple's iPhone
More From Business Insider
• Bitcoin's meteoric rise is costing some investors billions
• Bitcoin cash is crashing
• Bitcoin cash may be a house of cards that comes crashing down || Bitcoin splits in 2: (Bitcoin-themed balloons at the "Inside Bitcoins: The Future of Virtual Currency Conference" in New York.Reuters/Lucas Jackson)
Bitcoinpower brokers were unable to come behind a single solution that would have preserved a unified cryptocurrency by Tuesday morning's deadline.
As such, the digital currency has officially forked and split in two: bitcoin cash and bitcoin.
Miners were able to seek out bitcoin cash beginning Tuesday morning, and the cryptocurrency-focused news website CoinDesksaid the first bitcoin cashwas mined at about 2:20 p.m. ET.
"There seems to be some technical issues that might be slowing it down, but yes, the fork has happened," Peter Borovykh of Blockchain Driven, a blockchain technology company, told Business Insider earlier on Tuesday.
Miners are the folks who solve complex computer problems using software to unleash digital coins into the market. It took a couple of hours after the official fork for miners to unlock the first bitcoin cash coins.
"It seems as if people overestimated the mining power, or the support from miners — hence, it is taking far longer than most expected," Iqbal Gandham, the UK managing director at the social investment network eToro, said in a statement sent to Business Insider just before the split.
Bitcoin was the first digital currency built on blockchain technology, in which transactions are independently verified by the network without the need of a middleman like a bank. Bitcoin cash is built on the same blockchain network as bitcoin, but the new software increases the size of the "blocks" that make up the network to allow it to process more information.
Supporters of the newly formed bitcoin cash believe the currency will "breath new life into" the nearly 10-year-old bitcoin by addressing some of the issues facing bitcoin of late, such as slow transaction speeds.
Bitcoin power brokers have been squabbling over the rulesthat should guide the cryptocurrency's blockchain network.
On one side are the so-called core developers. They are in favor of smaller bitcoin blocks, which they say are less vulnerable to hacking. On the other side are the miners, who want to increase the size of blocks to make the network faster and more scalable.
Until last week, the solution known as Segwit2x, which would double the size of bitcoin blocks to 2 megabytes, seemed to have universal support.
(Servers for data storage seen at Advania's Thor Data Center in Hafnarfjordur, Iceland.Thomson Reuters)
Then bitcoin cash came along. The solution is a fork of the bitcoin system. The new software has all the history of the old platform; however, bitcoin cash blocks have a capacity 8 megabytes.
Bitcoin cash came out of left field, according to Charles Morris, a chief investment officer of NextBlock Global, an investment firm with digital assets.
"A group of miners who didn't like SegWit2x are opting for this new software that will increase the size of blocks from the current 1 megabyte to 8," Morris told Business Insider.
To be sure, only a minority of bitcoin miners and bitcoin exchanges have said they will support the new currency.
Investors who have their bitcoin on exchanges or wallets that support the new currency will soon see their holdings double, with one unit in bitcoin cash added for every bitcoin. But that doesn't mean the value of investors' holdings will double.
Because bitcoin cash will initially draw its value from bitcoin's market cap, it will most likely cause bitcoin's value to drop by an amount proportional to its adoption.Bitcoinwas alreadytrading down by 5.78% at $2,715on Tuesday following word thatbitcoin cash had gone live. Morris told Business Insider that bitcoin cash was trading in the futures market for about $200 to $400 last week, suggesting that's the range it would fall in during regular trading.
Kraken, a bitcoin exchange, tweeted Tuesday morning that it was experiencing delays getting bitcoin cash to show on user's accounts.
"Please note," theexchange said, that bitcoin cash "balances have not been credit yet." It added that it was "working to credit as soon as possible."
Numerous exchangeshave said they won't back bitcoin cash.
"In the event of two separate blockchains after August 1, 2017 we will only support one version," David Farmer, the director of Biz Ops at Coinbase, a cryptocurrency exchange, wrote in ablog post. "We have no plans to support the bitcoin cash fork."
Coinbase has served nearly 9 million customers across 32 countries, according to the firm'swebsite. The firm has enabled the exchange of over $20 billion worth of digital currency.
But just because some big players won't get behind it doesn't necessarily mean bitcoin cash will be a dud or that it couldn't eventually usurp the original bitcoin. Miners may rally behind bitcoin cash if it turns out to be the better digital currency.
"Bitcoin cash has a chance to become the dominant cryptocurrency contingent upon its ability to gain trust and support from both current and new players as well as security of its network," Borovykh of Blockchain Driven said. "Due to, at least temporary, solution of the scalability issues, bitcoin cash could attract more new capital to the entire crypto space, thus helping increase overall market cap."
Arthur Hayes, the CEO ofBitMEX, a bitcoin derivative exchange, told Business Insider he thought a fork would benefit the cryptocurrency in the long run after some short-term volatility and confusion.
"There are people with billions of dollars of skin in the game," Hayes said. "And they will ultimately go with the superior bitcoin network, and the market will follow."
NOW WATCH:THE BOTTOM LINE: New record highs for stocks and a deep dive into Apple's iPhone
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• Bitcoin's meteoric rise is costing some investors billions
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• Bitcoin cash may be a house of cards that comes crashing down || Senate Democrats' letter to Trump on tax reform is missing something that could be the key to a GOP success: joe manchin Heidi Heitkamp (Chip Somodevilla/Getty Images) Senate Democrats released a letter on Tuesday with a list of baseline demands to come to the table and negotiate on a tax reform bill with Republicans. While the letter contained a list of items that could earn their support on tax reform legislation, perhaps more notable was what was missing. Three Democratic senators did not sign onto the letter: Joe Manchin of West Virginia, Heidi Heitkamp of North Dakota, and Joe Donnelly of Indiana. All three face reelection bids in 2018 in states President Donald Trump won by huge margins last year. Currently, the tax reform effort is still in its infant stages. The Trump administration released a one-page outline of "principles" in April, while key administration officials and GOP congressional leadership released a letter on July 27 asserting their shared principles for a bill. According to reports, the White House is aiming to get tax reform done by the end of 2017 . The GOP plans to debut tax reform legislation in September, get it through the House in October and the Senate in November, and proceed through a conference to get the bill to Trump's desk by December. Given that there could be some dissent from Republicans on various aspects of the plan — whether it is revenue neutral, the lack of a border-adjustment tax, or deductions that favor certain states — winning over some vulnerable Democrats could be important to getting any tax bill through Congress. When asked the non-signature, a spokesperson for Donnelly simply said that the Indiana senator wants tax reform to be done in a bipartisan fashion. "Donnelly believes there should be a bipartisan process to reform our tax code," the spokesperson said in an email. "He believes our tax code should be reformed in a way that gives working and middle-class families greater economic security, rewards companies that invest in American workers as outlined in his End Outsourcing Act , and is revenue-neutral. He is ready to exchange ideas with others in Congress and the Trump Administration." Story continues A spokesperson for Heitkamp similarly said in response to a question from Business Insider about the letter that the senator wants to go through a bipartisan process. "Senator Heitkamp is approaching tax reform with an open mind and she wants work across the aisle to help make reforms that will grow the economy and support working families," the spokesperson said. Spokespeople for Heitkamp and Manchin did not respond to requests for comment. Manchin is particularly vulnerable, given that Trump won his state by 41.7 percentage points in 2016. The West Virginia senator also bucked his party previously by voting for the confirmation of Attorney General Jeff Sessions, being the only Democrat to do so . Additionally, the Manchin-Donnelly-Heitkamp trio were the only Democrats to vote for the confirmation of Supreme Court Justice Neil Gorsuch. NOW WATCH: People on Twitter are loving how baffled Buzz Aldrin appeared by Trump's 'space' talk More From Business Insider Bitcoin splits in 2 50 must-have tech accessories under $50 One of the best tech upgrades I've made to my car cost me less than $30 || Senate Democrats' letter to Trump on tax reform is missing something that could be the key to a GOP success: (Chip Somodevilla/Getty Images)
Senate Democratsreleased a letter on Tuesdaywith a list of baseline demands to come to the table and negotiate on a tax reform bill with Republicans.
While the letter contained a list of items that could earn their support on tax reform legislation, perhaps more notable was what was missing.
Three Democratic senators did not sign onto the letter: Joe Manchin of West Virginia,Heidi Heitkamp of North Dakota, and Joe Donnelly of Indiana.
All three face reelection bids in 2018 in states President Donald Trump won by huge margins last year.
Currently, the tax reform effort is still in its infant stages. The Trump administration released a one-page outline of "principles" in April, while key administration officials and GOP congressional leadership released a letter on July 27 asserting their shared principles for a bill.
According to reports, the White House is aiming toget tax reform done by the end of 2017. The GOP plans to debut tax reform legislation in September, get it through the House in October and the Senate in November, and proceed through a conference to get the bill to Trump's desk by December.
Given that there could be some dissent from Republicans on various aspects of the plan — whether it is revenue neutral, the lack of a border-adjustment tax, or deductions that favor certain states — winning over some vulnerable Democrats could be important to getting any tax bill through Congress.
When asked the non-signature, a spokesperson for Donnelly simply said that the Indiana senator wants tax reform to be done in a bipartisan fashion.
"Donnelly believes there should be a bipartisan process to reform our tax code," the spokesperson said in an email. "He believes our tax code should be reformed in a way that gives working and middle-class families greater economic security, rewards companies that invest in American workers as outlined in his End Outsourcing Act,and is revenue-neutral. He is ready to exchange ideas with others in Congress and the Trump Administration."
A spokesperson for Heitkamp similarly said in response to a question from Business Insider about the letter that the senator wants to go through a bipartisan process.
"Senator Heitkamp is approaching tax reform with an open mind and she wants work across the aisle to help make reforms that will grow the economy and support working families," the spokesperson said.
Spokespeople for Heitkamp and Manchin did not respond to requests for comment.
Manchin is particularly vulnerable, given that Trump won his state by 41.7 percentage points in 2016. The West Virginia senator also bucked his party previously by voting for the confirmation of Attorney General Jeff Sessions, beingthe only Democrat to do so.
Additionally, the Manchin-Donnelly-Heitkamp trio werethe only Democrats to vote for the confirmationof Supreme Court Justice Neil Gorsuch.
NOW WATCH:People on Twitter are loving how baffled Buzz Aldrin appeared by Trump's 'space' talk
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• One of the best tech upgrades I've made to my car cost me less than $30 || Bitcoin lower as virtual currency splits in two in hard fork: Bitcoin lower as virtual currency splits in two in hard fork Investing.com - Bitcoin prices were lower on Tuesday as the blockchain supporting the cryptocurrency split into two in an event known as a hard fork, creating two competing strands of the virtual currency. On the U.S.-based Bitfinex exchange, Bitcoin fell to $2,747.9, down $136.8 or 4.75%. Bitcoin cash, a new version of Bitcoin, launched at 08.20 ET on Tuesday, creating a new cryptocurrency. A recent surge in the popularity of Bitcoin, which saw prices hit a record of $3,000 in June, has meant the underlying technology has struggled to cope with a boom in transaction numbers. Bitcoin transactions are limited to 1MB every 10 minutes - or seven transactions per second. Bitcoin avoided a split into two independent currencies last month when its network supported a proposal on upgrading to its software in order to speed up transactions on the Bitcoin network. But some in the Bitcoin community thought the proposal did not go far enough, leading to the hard fork. Holders of Bitcoin before the split will end up with an equal value of Bitcoin and Bitcoin Cash following the fork, but Bitcoin Cash will likely only be worth a fraction of Bitcoin. Elsewhere in cryptocurrency trading, Ethereum, Bitcoins closest rival in terms of market cap, was last up 14.35% or $27.52 to $219.07. To stay on top of the latest moves in the crypto-space, be sure to check out: https://www.investing.com/crypto/ Related Articles Dollar settles before U.S. data; outlook wary Forex - Euro slips to days lows after euro zone GDP data Forex - Sterling hits 10-month highs as UK factory growth rebounds || Bitcoin lower as virtual currency splits in two in ‘hard fork’: Investing.com - Bitcoin prices were lower on Tuesday as the blockchain supporting the cryptocurrency split into two in an event known as a‘hard fork,’creating two competing strands of the virtual currency.
On the U.S.-based Bitfinex exchange, Bitcoin fell to $2,747.9, down $136.8 or 4.75%.
Bitcoin cash, a new version of Bitcoin, launched at 08.20 ET on Tuesday, creating a new cryptocurrency.
A recent surge in the popularity of Bitcoin, which saw prices hit a record of $3,000 in June, has meant the underlying technology has struggled to cope with a boom in transaction numbers.
Bitcoin transactions are limited to 1MB every 10 minutes - or seven transactions per second.
Bitcoin avoided a split into two independent currencies last month when its network supported a proposal on upgrading to its software in order to speed up transactions on the Bitcoin network.
But some in the Bitcoin community thought the proposal did not go far enough, leading to the ‘hard fork.’
Holders of Bitcoin before the split will end up with an equal value of Bitcoin and Bitcoin Cash following the fork, but Bitcoin Cash will likely only be worth a fraction of Bitcoin.
Elsewhere in cryptocurrency trading, Ethereum, Bitcoin’s closest rival in terms of market cap, was last up 14.35% or $27.52 to $219.07.
To stay on top of the latest moves in the crypto-space, be sure to check out:https://www.investing.com/crypto/
Related Articles
Dollar settles before U.S. data; outlook wary
Forex - Euro slips to day’s lows after euro zone GDP data
Forex - Sterling hits 10-month highs as UK factory growth rebounds || Bitcoin lower as virtual currency splits in two in ‘hard fork’: Investing.com - Bitcoin prices were lower on Tuesday as the blockchain supporting the cryptocurrency split into two in an event known as a‘hard fork,’creating two competing strands of the virtual currency.
On the U.S.-based Bitfinex exchange, Bitcoin fell to $2,747.9, down $136.8 or 4.75%.
Bitcoin cash, a new version of Bitcoin, launched at 08.20 ET on Tuesday, creating a new cryptocurrency.
A recent surge in the popularity of Bitcoin, which saw prices hit a record of $3,000 in June, has meant the underlying technology has struggled to cope with a boom in transaction numbers.
Bitcoin transactions are limited to 1MB every 10 minutes - or seven transactions per second.
Bitcoin avoided a split into two independent currencies last month when its network supported a proposal on upgrading to its software in order to speed up transactions on the Bitcoin network.
But some in the Bitcoin community thought the proposal did not go far enough, leading to the ‘hard fork.’
Holders of Bitcoin before the split will end up with an equal value of Bitcoin and Bitcoin Cash following the fork, but Bitcoin Cash will likely only be worth a fraction of Bitcoin.
Elsewhere in cryptocurrency trading, Ethereum, Bitcoin’s closest rival in terms of market cap, was last up 14.35% or $27.52 to $219.07.
To stay on top of the latest moves in the crypto-space, be sure to check out:https://www.investing.com/crypto/
Related Articles
Dollar settles before U.S. data; outlook wary
Forex - Euro slips to day’s lows after euro zone GDP data
Forex - Sterling hits 10-month highs as UK factory growth rebounds || Companies Can Put Shareholders on a Blockchain Starting Today: Blockchain got a big boost on Tuesday when a Delaware law went into effect that lets corporations maintain shareholder lists, along with other corporate records, using the technology. Already, several companies, including the retailer Overstock, say they intend to use it.
Delaware’s decision to bless blockchain--which is atype of softwarethat creates indelible records across multiple computers--is significant because the state is America’sde factocorporate law capital, and more than two-thirds of Fortune 500 companies are incorporated there.
According to lawyers and state officials, the new law ensures companies will not face legal trouble if they choose to keep a list of shareholder names, which they must do by law, on a blockchain instead of conventional methods like an Excel spreadsheet or a SQL database.
“The Delaware statute is enabling--it doesn’t require any particular type of blockchain ledger,” saidMarco Santori, a partner with the law firm Cooley, who advised the state on the plan.
Santori said it will take some time for companies to get up to speed on the technology, and for vendors to build tools to begin recording their shareholder lists and other documents onto blockchains. He added that a number of big companies have been speaking with Delaware officials about using the technology, but was not at liberty to say which ones.
In the case of Overstock,Fortuneasked the retailer--which recentlybegan tradingSeries A Preferred shares on a blockchain platform--about the Delaware law, and a company official confirmed its subsidiary, Medici Ventures, will take advantage of the new listing option.
Get Data Sheet, Fortune's technology newsletter.
“[We’re] very excited about the possibilities this forward-thinking legislation from Delaware affords corporations, and plans to offer its shares and begin managing its shareholder records on the blockchain as soon as possible,” said Jonathan Johnson, president of Medici Ventures and an Overstock.com board member.
For now, though, many other companies may regard a blockchain-based shareholder ledger as a novelty. But that will likely change as blockchain’s implications for corporate record-keeping become more pronounced.
Blockchain technology, along with the cryptocurrencies like bitcoin that are created by it, is the midst of a hype cycle. Buoyed by investors who liken the current state of blockchain to the early days of the Internet, firms of all sorts are rushing to get a piece of it.
This hype is no doubt overblown but, as with other revolutionary technologies, people are likely overstating its short term impact while underestimating its long term effects. The Delaware law could be a case in point. By this time next year, it’s unlikely corporate record keeping will be much different than it is now. But in two to five years, the change could be profound.
One reason is that governments, including the state of Delaware, are also adopting blockchain technology. According to state officialAndrea Tinianow--dubbed “the blockchain czarina” by the lawyer Santori--the state is working with a company called Symbiont to integrate its own records onto blockchain ledgers.
Tinianow, who predicts widespread of the technology is “around the corner,” added that registered agents and law firms are also working to add their own nodes to blockchains. All of this, together, will serve to replace our current system of corporate record-keeping--in which documents are stored in disparate places online and off--with a unified and secure ledger.
“When an incorporation happens, the info will flow directly onto a [blockchain] ledger,” said Tinianow, whose formal title is Director of Global Delaware.
John Mark Zeberkiewicz, a partner at the law firm Richards, Layton & Finger, likewise predicted the Delaware initiative is just the beginning of a transformation in how companies document their existence.
"Think about what a corporation is--on some level, a corporation is its records. Ultimately, just about every corporate document and transaction could be recorded on the blockchain, creating an immutable record of all corporate acts," said Zeberkiewicz.
See original article on Fortune.com
More from Fortune.com
• Bitcoin Just Avoided a Massive Breakup, But It's Getting a Little One Instead
• 7 Cryptocurrency Predictions From the Experts
• Bitcoin Averts Split Into Two Currencies
• Why Ethereum Is Much More Valuable Than Bitcoin: SoFi CEO
• Hackers Just Stole $7 Million in a Brazen Ethereum Cryptocurrency Heist || Companies Can Put Shareholders on a Blockchain Starting Today: Blockchain got a big boost on Tuesday when a Delaware law went into effect that lets corporations maintain shareholder lists, along with other corporate records, using the technology. Already, several companies, including the retailer Overstock, say they intend to use it. Delaware’s decision to bless blockchain--which is a type of software that creates indelible records across multiple computers--is significant because the state is America’s de facto corporate law capital, and more than two-thirds of Fortune 500 companies are incorporated there. According to lawyers and state officials, the new law ensures companies will not face legal trouble if they choose to keep a list of shareholder names, which they must do by law, on a blockchain instead of conventional methods like an Excel spreadsheet or a SQL database. “The Delaware statute is enabling--it doesn’t require any particular type of blockchain ledger,” said Marco Santori , a partner with the law firm Cooley, who advised the state on the plan. Santori said it will take some time for companies to get up to speed on the technology, and for vendors to build tools to begin recording their shareholder lists and other documents onto blockchains. He added that a number of big companies have been speaking with Delaware officials about using the technology, but was not at liberty to say which ones. In the case of Overstock, Fortune asked the retailer--which recently began trading Series A Preferred shares on a blockchain platform--about the Delaware law, and a company official confirmed its subsidiary, Medici Ventures, will take advantage of the new listing option. Get Data Sheet , Fortune's technology newsletter. “[We’re] very excited about the possibilities this forward-thinking legislation from Delaware affords corporations, and plans to offer its shares and begin managing its shareholder records on the blockchain as soon as possible,” said Jonathan Johnson, president of Medici Ventures and an Overstock.com board member. Story continues For now, though, many other companies may regard a blockchain-based shareholder ledger as a novelty. But that will likely change as blockchain’s implications for corporate record-keeping become more pronounced. “Every corporate document..could be recorded” Blockchain technology, along with the cryptocurrencies like bitcoin that are created by it, is the midst of a hype cycle. Buoyed by investors who liken the current state of blockchain to the early days of the Internet, firms of all sorts are rushing to get a piece of it. This hype is no doubt overblown but, as with other revolutionary technologies, people are likely overstating its short term impact while underestimating its long term effects. The Delaware law could be a case in point. By this time next year, it’s unlikely corporate record keeping will be much different than it is now. But in two to five years, the change could be profound. One reason is that governments, including the state of Delaware, are also adopting blockchain technology. According to state official Andrea Tinianow --dubbed “the blockchain czarina” by the lawyer Santori--the state is working with a company called Symbiont to integrate its own records onto blockchain ledgers. Tinianow, who predicts widespread of the technology is “around the corner,” added that registered agents and law firms are also working to add their own nodes to blockchains. All of this, together, will serve to replace our current system of corporate record-keeping--in which documents are stored in disparate places online and off--with a unified and secure ledger. “When an incorporation happens, the info will flow directly onto a [blockchain] ledger,” said Tinianow, whose formal title is Director of Global Delaware. John Mark Zeberkiewicz , a partner at the law firm Richards, Layton & Finger, likewise predicted the Delaware initiative is just the beginning of a transformation in how companies document their existence. "Think about what a corporation is--on some level, a corporation is its records. Ultimately, just about every corporate document and transaction could be recorded on the blockchain, creating an immutable record of all corporate acts," said Zeberkiewicz. See original article on Fortune.com More from Fortune.com Bitcoin Just Avoided a Massive Breakup, But It's Getting a Little One Instead 7 Cryptocurrency Predictions From the Experts Bitcoin Averts Split Into Two Currencies Why Ethereum Is Much More Valuable Than Bitcoin: SoFi CEO Hackers Just Stole $7 Million in a Brazen Ethereum Cryptocurrency Heist
[Social Media Buzz]
BTC Real Time Price: ThePriceOfBTC: $2699.97 #kraken;
$2695.01 #bitstamp;
$2703.23 #GDAX;
$2699.01 #gemini;
$2710.00 #hitbtc;
$2751.87 #cex; || #SegWit blocks mined: 100.00%; 965 more for lock-in. (Period ends in 6 days) #Bitcoin $BTC || Current value of DOGE in BTC: Vircurex: 0.00000051 -- Volume: 182000.0 Today's trend: stable at 08/02/17 00:55 || #UFOCoin #UFO $0.000108 (-2.14%) 0.00000004 BTC (0.00%) || 1 EGC Price: Bittrex 0.00003884 BTC #EGC #EverGreenCoin http://bittrex.com/Market/Index?M...
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2804.73, 2895.89, 3252.91, 3213.94, 3378.94, 3419.94, 3342.47, 3381.28, 3650.62, 3884.71
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Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 8807.01, 8723.79, 8929.04, 8942.81, 8706.25, 8657.64, 8745.89, 8680.88, 8406.52, 8445.43, 8367.85, 8596.83, 8909.82, 9358.59, 9316.63, 9508.99, 9350.53, 9392.88, 9344.37, 9293.52, 9180.96, 9613.42, 9729.80, 9795.94, 9865.12, 10116.67, 9856.61, 10208.24, 10326.05, 10214.38, 10312.12, 9889.42, 9934.43, 9690.14, 10142.00, 9633.39, 9608.48, 9686.44, 9663.18, 9924.52, 9650.17, 9341.71, 8820.52, 8784.49, 8672.46, 8599.51, 8562.45, 8869.67, 8787.79, 8755.25, 9078.76, 9122.55, 8909.95, 8108.12, 7923.64, 7909.73, 7911.43, 4970.79, 5563.71, 5200.37, 5392.31, 5014.48, 5225.63, 5238.44, 6191.19, 6198.78, 6185.07, 5830.25, 6416.31, 6734.80, 6681.06, 6716.44, 6469.80, 6242.19, 5922.04, 6429.84, 6438.64, 6606.78, 6793.62, 6733.39, 6867.53, 6791.13, 7271.78, 7176.41, 7334.10, 7302.09, 6865.49, 6859.08, 6971.09, 6845.04.
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[Bitcoin Technical Analysis for 2020-04-13]
Volume: 38619308647, RSI (14-day): 49.22, 50-day EMA: 7190.69, 200-day EMA: 7992.40
[Wider Market Context]
Gold Price: 1744.80, Gold RSI: 66.53
Oil Price: 22.41, Oil RSI: 38.14
[Recent News (last 7 days)]
The Klein Law Firm Reminds Investors of Class Actions on Behalf of Shareholders of BDX, CAN and INO: NEW YORK, NY / ACCESSWIRE / April 12, 2020 / The Klein Law Firm announces that class action complaints have been filed on behalf of shareholders of the following companies. There is no cost to participate in the suit. If you suffered a loss, you have until the lead plaintiff deadline to request that the court appoint you as lead plaintiff. Becton Dickinson & Company ( BDX ) Class Period: November 5, 2019 to February 5, 2020 Lead Plaintiff Deadline: April 27, 2020 The BDX lawsuit alleges Becton Dickinson & Company made materially false and/or misleading statements and/or failed to disclose during the class period that: (1) certain of Becton's Alaris infusion pumps experienced software errors and alarm prioritization issues; (2) as a result, the Company was investing in remediation efforts to address these product issues, rather than a software upgrade to "make enhancements;" (3) the Company was reasonably likely to face regulatory delays in connection with the software remediation; (4) as a result of the foregoing, Becton was reasonably likely to recall certain of its Alaris infusion pumps; and (5) as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially false and/or misleading and/or lacked a reasonable basis. Learn about your recoverable losses in BDX : http://www.kleinstocklaw.com/pslra-1/becton-dickinson-company-loss-submission-form?id=6009&from=1 Canaan Inc. ( CAN ) Class Period: publicly traded securities of Canaan, including its American Depository Shares pursuant and/or traceable to the Company's registration statement and related prospectus issued in connection with the Company's November 20, 2019 initial public offering. Lead Plaintiff Deadline: May 4, 2020 According to the complaint, Canaan Inc. allegedly made materially false and/or misleading statements and/or failed to disclose that: (1) the purported "strategic cooperation" was actually a transaction with a related party; (2) the company's financial health was worse than what was actually reported; (3) the company had recently removed numerous distributors from its website just prior to the initial public offering, many of which were small or suspicious businesses; and (4) several of the Company's largest Chinese clients in prior years were clients who were not in the Bitcoin mining industry and, thus, would likely not be repeat customers. Story continues Learn about your recoverable losses in CAN : http://www.kleinstocklaw.com/pslra-1/canaan-inc-loss-submission-form?id=6009&from=1 Inovio Pharmaceuticals, Inc. ( INO ) Class Period: February 14, 2020 to March 9, 2020 Lead Plaintiff Deadline: May 12, 2020 According to a filed complaint, throughout the class period, defendants made misleading statements about the company's development of a purported vaccine for the novel coronavirus, artificially inflating the company's share price and resulting in significant investor losses. Learn about your recoverable losses in INO : http://www.kleinstocklaw.com/pslra-1/inovio-pharmaceuticals-inc-loss-submission-form?id=6009&from=1 Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. If you suffered a loss during the class period and wish to obtain additional information, please contact J. Klein, Esq. by telephone at 212-616-4899 or visit the webpages provided. J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. Attorney advertising. Prior results do not guarantee similar outcomes. CONTACT: J. Klein, Esq. Empire State Building 350 Fifth Avenue 59th Floor New York, NY 10118 jk@kleinstocklaw.com Telephone: (212) 616-4899 Fax: (347) 558-9665 www.kleinstocklaw.com SOURCE : The Klein Law Firm View source version on accesswire.com: https://www.accesswire.com/584783/The-Klein-Law-Firm-Reminds-Investors-of-Class-Actions-on-Behalf-of-Shareholders-of-BDX-CAN-and-INO || The Klein Law Firm Reminds Investors of Class Actions on Behalf of Shareholders of BDX, CAN and INO: NEW YORK, NY / ACCESSWIRE / April 12, 2020 /The Klein Law Firm announces that class action complaints have been filed on behalf of shareholders of the following companies. There is no cost to participate in the suit.If you suffered a loss, you have until the lead plaintiff deadline to request that the court appoint you as lead plaintiff.
Becton Dickinson & Company (BDX)Class Period:November 5, 2019 to February 5, 2020Lead Plaintiff Deadline:April 27, 2020
The BDX lawsuit alleges Becton Dickinson & Company made materially false and/or misleading statements and/or failed to disclose during the class period that: (1) certain of Becton's Alaris infusion pumps experienced software errors and alarm prioritization issues; (2) as a result, the Company was investing in remediation efforts to address these product issues, rather than a software upgrade to "make enhancements;" (3) the Company was reasonably likely to face regulatory delays in connection with the software remediation; (4) as a result of the foregoing, Becton was reasonably likely to recall certain of its Alaris infusion pumps; and (5) as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially false and/or misleading and/or lacked a reasonable basis.
Learn about your recoverable losses in BDX:http://www.kleinstocklaw.com/pslra-1/becton-dickinson-company-loss-submission-form?id=6009&from=1
Canaan Inc. (CAN)Class Period:publicly traded securities of Canaan, including its American Depository Shares pursuant and/or traceable to the Company's registration statement and related prospectus issued in connection with the Company's November 20, 2019 initial public offering.Lead Plaintiff Deadline:May 4, 2020
According to the complaint, Canaan Inc. allegedly made materially false and/or misleading statements and/or failed to disclose that: (1) the purported "strategic cooperation" was actually a transaction with a related party; (2) the company's financial health was worse than what was actually reported; (3) the company had recently removed numerous distributors from its website just prior to the initial public offering, many of which were small or suspicious businesses; and (4) several of the Company's largest Chinese clients in prior years were clients who were not in the Bitcoin mining industry and, thus, would likely not be repeat customers.
Learn about your recoverable losses in CAN:http://www.kleinstocklaw.com/pslra-1/canaan-inc-loss-submission-form?id=6009&from=1
Inovio Pharmaceuticals, Inc. (INO)Class Period:February 14, 2020 to March 9, 2020Lead Plaintiff Deadline:May 12, 2020
According to a filed complaint, throughout the class period, defendants made misleading statements about the company's development of a purported vaccine for the novel coronavirus, artificially inflating the company's share price and resulting in significant investor losses.
Learn about your recoverable losses in INO:http://www.kleinstocklaw.com/pslra-1/inovio-pharmaceuticals-inc-loss-submission-form?id=6009&from=1
Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. If you suffered a loss during the class period and wish to obtain additional information, please contact J. Klein, Esq. by telephone at 212-616-4899 or visit the webpages provided.
J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:J. Klein, Esq.Empire State Building350 Fifth Avenue59th FloorNew York, NY 10118jk@kleinstocklaw.comTelephone: (212) 616-4899Fax: (347) 558-9665www.kleinstocklaw.com
SOURCE: The Klein Law Firm
View source version on accesswire.com:https://www.accesswire.com/584783/The-Klein-Law-Firm-Reminds-Investors-of-Class-Actions-on-Behalf-of-Shareholders-of-BDX-CAN-and-INO || Making Sense of the SEC’s Case Against Telegram: Telegram lost another round in court against the U.S. Securities and Exchange Commission (SEC) and now can’t launch its $1.7 billion token sale. What does it mean for the crypto industry and other startups that sold tokens?
Listen/subscribe to the CoinDesk Podcast feed for unique perspectives and fresh daily insight withApple Podcasts,Spotify,Pocketcasts,Google Podcasts,Castbox,Stitcher,RadioPublica,IHeartRadioorRSS.
Telegram, the popular messaging app, has big plans for its blockchainTelegram Open Network, or TON. It also had one of the biggest token sales in history, followed by a huge legal fight over it.
Related:Exchange Banking on TON’s Gram Tokens to Shut Down After Telegram Court Order
The SECsuedthe company to halt the TON network, saying its native gram tokens were unregistered securities. Telegramarguedgrams were a commodity. A federal judge in New Yorkissued a preliminary injunctionagreeing with the SEC, blocking Telegram from issuing tokens.
The court battle has been an interesting one, as is the ruling of the judge.
Together with two experienced attorneys, Gabriel Shapiro of BSV Law and Phillip Moustakis of Seward & Kissel, we’re unpacking this process, which is likely to set a precedent for other token sales structured asSAFTs, or simple agreements for future tokens– starting withKikand potentially followed by many more.
• SAFTs used to be a popular form of fundraising in crypto. What went wrong for Telegram?
• Is there still a chance anambitious proof-of-stake blockchainwill still get launched?
• Is there a safe way to raise money via a token sale or not?
• What are the remaining options for Telegram – and for its investors?
See also:
Related:Bitcoin Halving: How Miners Are Preparing for Lower Block Rewards
Judge Halts Telegram Token Issuance in Injunction Requested by SEC
Telegram Hopes It Can Still Sell Tokens to Non-US Investors After Court Ruling
Blockchain Association Says Court ‘Erred’ With Decision to Block Telegram’s Token Issuance
Digital Chamber Asks Court to Draw Line Between Investment Contracts and Assets in Telegram Case
Andreessen Horowitz: “Reading Between the Lines: SEC, Telegram, and Rule 144”
SEC Settles Securities Registration Charges Against 2 ICO Startups
• Quantitative Tightening and 5 Key Questions for Our Changing World
• Rebuilding the Resilience Economy, Feat. Anthony Pompliano || Making Sense of the SEC’s Case Against Telegram: Telegram lost another round in court against the U.S. Securities and Exchange Commission (SEC) and now can’t launch its $1.7 billion token sale. What does it mean for the crypto industry and other startups that sold tokens? Listen/subscribe to the CoinDesk Podcast feed for unique perspectives and fresh daily insight with Apple Podcasts , Spotify , Pocketcasts , Google Podcasts , Castbox , Stitcher , RadioPublica , IHeartRadio or RSS . Telegram, the popular messaging app, has big plans for its blockchain Telegram Open Network , or TON. It also had one of the biggest token sales in history, followed by a huge legal fight over it. Related: Exchange Banking on TON’s Gram Tokens to Shut Down After Telegram Court Order The SEC sued the company to halt the TON network, saying its native gram tokens were unregistered securities. Telegram argued grams were a commodity. A federal judge in New York issued a preliminary injunction agreeing with the SEC, blocking Telegram from issuing tokens. The court battle has been an interesting one, as is the ruling of the judge. Together with two experienced attorneys, Gabriel Shapiro of BSV Law and Phillip Moustakis of Seward & Kissel, we’re unpacking this process, which is likely to set a precedent for other token sales structured as SAFTs, or simple agreements for future tokens – starting with Kik and potentially followed by many more. SAFTs used to be a popular form of fundraising in crypto. What went wrong for Telegram? Is there still a chance an ambitious proof-of-stake blockchain will still get launched? Is there a safe way to raise money via a token sale or not? What are the remaining options for Telegram – and for its investors? See also: Related: Bitcoin Halving: How Miners Are Preparing for Lower Block Rewards Judge Halts Telegram Token Issuance in Injunction Requested by SEC Telegram Hopes It Can Still Sell Tokens to Non-US Investors After Court Ruling Blockchain Association Says Court ‘Erred’ With Decision to Block Telegram’s Token Issuance Story continues Digital Chamber Asks Court to Draw Line Between Investment Contracts and Assets in Telegram Case Andreessen Horowitz: “Reading Between the Lines: SEC, Telegram, and Rule 144” SEC Settles Securities Registration Charges Against 2 ICO Startups Related Stories Quantitative Tightening and 5 Key Questions for Our Changing World Rebuilding the Resilience Economy, Feat. Anthony Pompliano || HIVE completes $4 million acquisition of mining firm: HIVE Blockchain Technologies has acquired a cryptocurrency mining operation with access to 30 megawatts (“MW”) of low cost green power at a leased facility located in Lachute, Quebec. According to an official press release shared with Coin Rivet, the cost of acquiring mining firm Cryptologic stands at C$4,000,000 , with C$1,000,000 of that being in cash. HIVE will also invest C$3,000,000 in new cryptocurrency mining equipment for the facility. Cryptologic now also own 4% of HIVE’s basic common shares. “We’re extremely pleased to have completed the acquisition of this Facility,” said Frank Holmes, Interim Executive Chairman of HIVE. “Multiple factors make Quebec a very attractive location for us including geographic diversification and competitive costs for green energy, skilled labour and taxes” . HIVE Blockchain Completes Acquisition of 30 MW Cryptocurrency Operation in Canada | Markets Insider https://t.co/JKt5n9PSnN — the Crypto Grill (@TheCryptoGrill) April 9, 2020 “The acquisition provides us direct control of our destiny, including significant capacity for expansion and flexibility for our future operations. To that end, we have exercised an option to extend the term of the Facility lease to November 2025, and we plan to invest in next generation SHA-256 miners to increase the operating efficiency of the Facility and prepare it for the upcoming halving of Bitcoin rewards. Additionally, we are currently investigating the potential to host third-party miners to maximise utilisation of the Facility’s power capacity.” Holmes went on to heap praise on Cryptologic’s COO and VP Finance for facilitating the deal during difficult times as a result of the Coronavirus pandemic. He continued:”We also want to extend our appreciation to the Board of Cryptologic, who have expressed confidence in the vision and direction of HIVE by becoming a significant shareholder. Additionally, we also appreciate the cooperation of Cryptologic’s Chief Operating Officer, Paul Leggett and VP Finance, Joshua Lebovic, who have helped facilitate a smooth transition during the challenging period that the world is experiencing related to COVID-19.” For more news, guides and cryptocurrency analysis, click here . View comments || HIVE completes $4 million acquisition of mining firm: HIVE Blockchain Technologies has acquired a cryptocurrency mining operation with access to 30 megawatts (“MW”) of low cost green power at a leased facility located in Lachute, Quebec. According to an official press release shared with Coin Rivet, the cost of acquiring mining firm Cryptologic stands at C$4,000,000 , with C$1,000,000 of that being in cash. HIVE will also invest C$3,000,000 in new cryptocurrency mining equipment for the facility. Cryptologic now also own 4% of HIVE’s basic common shares. “We’re extremely pleased to have completed the acquisition of this Facility,” said Frank Holmes, Interim Executive Chairman of HIVE. “Multiple factors make Quebec a very attractive location for us including geographic diversification and competitive costs for green energy, skilled labour and taxes” . HIVE Blockchain Completes Acquisition of 30 MW Cryptocurrency Operation in Canada | Markets Insider https://t.co/JKt5n9PSnN — the Crypto Grill (@TheCryptoGrill) April 9, 2020 “The acquisition provides us direct control of our destiny, including significant capacity for expansion and flexibility for our future operations. To that end, we have exercised an option to extend the term of the Facility lease to November 2025, and we plan to invest in next generation SHA-256 miners to increase the operating efficiency of the Facility and prepare it for the upcoming halving of Bitcoin rewards. Additionally, we are currently investigating the potential to host third-party miners to maximise utilisation of the Facility’s power capacity.” Holmes went on to heap praise on Cryptologic’s COO and VP Finance for facilitating the deal during difficult times as a result of the Coronavirus pandemic. He continued:”We also want to extend our appreciation to the Board of Cryptologic, who have expressed confidence in the vision and direction of HIVE by becoming a significant shareholder. Additionally, we also appreciate the cooperation of Cryptologic’s Chief Operating Officer, Paul Leggett and VP Finance, Joshua Lebovic, who have helped facilitate a smooth transition during the challenging period that the world is experiencing related to COVID-19.” For more news, guides and cryptocurrency analysis, click here . View comments || The Crypto Daily – Movers and Shakers -12/04/20: Bitcoin rose by 0.15% on Saturday. Following a 5.73% slide on Friday, Bitcoin ended the day at $6,884.5.
A bullish start to the day saw Bitcoin rise to an early morning intraday high $6,957.8 before hitting reverse.
Coming up well short of the first major resistance level at $7,202.1, Bitcoin tumbled to a late afternoon intraday low $6,780.0.
Steering clear of the first major support level at $6,652.6 Bitcoin bounced back to $6,890.9 before easing back.
The near-term bearish trend, formed at late June 2019’s swing hi $13,764.0, remained firmly intact, reaffirmed by the March swing lo $4,000.
For the bulls, Bitcoin would need to break out from $10,000 levels to form a near-term bullish trend.
Across the rest of the majors, it was a mixed day on Saturday.
Stellar’s Lumen and Tezos found strong support, with the pair rallying by 4.21% and 3.46% respectively.
Binance Coin (+0.66%), Cardano’s ADA (+0.66%), EOS (+0.65%), Ethereum (+0.28%), Litecoin (+0.57%), and Ripple’s XRP (+0.27%) also ended the day in the green.
While Bitcoin Cash SV ended the day flat, Bitcoin Cash ABC fell by 0.8% to lead the way down.
Monero’s XMR and Tron’s TRX also ended the day in the red, with losses of 0.48% and 0.04% respectively.
Through the current week, the crypto total market cap rose from a Monday low $190.55bn to a Tuesday high $211.57bn. A choppy week, however, saw the total market cap fall back to sub-$200bn levels. At the time of writing, the total market cap stood at $195.06bn.
Bitcoin’s dominance eased back from 65% levels seen on Monday. At the time of writing, Bitcoin’s dominance stood at 64.1%.
24-hour trading volumes recovered from sub-$100bn levels to hit $171bn levels on Tuesday before easing back. At the time of writing, 24-hr volumes stood at $107.7bn.
At the time of writing, Bitcoin was down by 0.94% to $6,820.0. A bearish start to the day saw Bitcoin rise to an early morning high $6,908.8 before falling to a low $6,807.4.
Bitcoin left the major support and resistance levels untested early on.
Elsewhere, it was also a bearish start to the day.
Bitcoin Cash ABC (-1.53%), EOS (-1.20%), and Tezos (-2.89%) led the way down early on.
Bitcoin would need to move through to $6,880 levels to bring the first major resistance level at $6,968.2 into play.
Support from the broader market would be needed, however, for Bitcoin to break back through to $6,900 levels.
Barring a broad-based crypto rebound, the first major resistance level and Saturday’s high $6,957.8 would likely cap any upside.
Failure to move back through to $6,880 levels could see Bitcoin fall deeper into the red.
A fall back through the morning low $6,807.4 would bring the first major support level at $6,790.4 into play.
Barring an extended crypto sell-off, however, Bitcoin should continue to steer of sub-$6,700 support levels.
Thisarticlewas originally posted on FX Empire
• NZD/USD Forex Technical Analysis – Holding Above .6074 Will Continue to Generate Upside Momentum
• Artificial Intelligence Fibonacci Trading System Predicts Next Price Move
• S&P 500 Weekly Price Forecast – S&P 500 Hits Significant Technical Level
• U.S Mortgage Rates Hold Steady Unemployment Numbers Sink Applications
• The Crypto Daily – Movers and Shakers -12/04/20
• The Weekly Wrap – COVID-19 and the FED Deliver a Boost to Riskier Assets || The Crypto Daily – Movers and Shakers -12/04/20: Bitcoin rose by 0.15% on Saturday. Following a 5.73% slide on Friday, Bitcoin ended the day at $6,884.5. A bullish start to the day saw Bitcoin rise to an early morning intraday high $6,957.8 before hitting reverse. Coming up well short of the first major resistance level at $7,202.1, Bitcoin tumbled to a late afternoon intraday low $6,780.0. Steering clear of the first major support level at $6,652.6 Bitcoin bounced back to $6,890.9 before easing back. The near-term bearish trend, formed at late June 2019’s swing hi $13,764.0, remained firmly intact, reaffirmed by the March swing lo $4,000. For the bulls, Bitcoin would need to break out from $10,000 levels to form a near-term bullish trend. The Rest of the Pack Across the rest of the majors, it was a mixed day on Saturday. Stellar’s Lumen and Tezos found strong support, with the pair rallying by 4.21% and 3.46% respectively. Binance Coin (+0.66%), Cardano’s ADA (+0.66%), EOS (+0.65%), Ethereum (+0.28%), Litecoin (+0.57%), and Ripple’s XRP (+0.27%) also ended the day in the green. While Bitcoin Cash SV ended the day flat, Bitcoin Cash ABC fell by 0.8% to lead the way down. Monero’s XMR and Tron’s TRX also ended the day in the red, with losses of 0.48% and 0.04% respectively. Through the current week, the crypto total market cap rose from a Monday low $190.55bn to a Tuesday high $211.57bn. A choppy week, however, saw the total market cap fall back to sub-$200bn levels. At the time of writing, the total market cap stood at $195.06bn. Bitcoin’s dominance eased back from 65% levels seen on Monday. At the time of writing, Bitcoin’s dominance stood at 64.1%. 24-hour trading volumes recovered from sub-$100bn levels to hit $171bn levels on Tuesday before easing back. At the time of writing, 24-hr volumes stood at $107.7bn. This Morning At the time of writing, Bitcoin was down by 0.94% to $6,820.0. A bearish start to the day saw Bitcoin rise to an early morning high $6,908.8 before falling to a low $6,807.4. Story continues Bitcoin left the major support and resistance levels untested early on. Elsewhere, it was also a bearish start to the day. Bitcoin Cash ABC (-1.53%), EOS (-1.20%), and Tezos (-2.89%) led the way down early on. For the Bitcoin Day Ahead Bitcoin would need to move through to $6,880 levels to bring the first major resistance level at $6,968.2 into play. Support from the broader market would be needed, however, for Bitcoin to break back through to $6,900 levels. Barring a broad-based crypto rebound, the first major resistance level and Saturday’s high $6,957.8 would likely cap any upside. Failure to move back through to $6,880 levels could see Bitcoin fall deeper into the red. A fall back through the morning low $6,807.4 would bring the first major support level at $6,790.4 into play. Barring an extended crypto sell-off, however, Bitcoin should continue to steer of sub-$6,700 support levels. This article was originally posted on FX Empire More From FXEMPIRE: NZD/USD Forex Technical Analysis – Holding Above .6074 Will Continue to Generate Upside Momentum Artificial Intelligence Fibonacci Trading System Predicts Next Price Move S&P 500 Weekly Price Forecast – S&P 500 Hits Significant Technical Level U.S Mortgage Rates Hold Steady Unemployment Numbers Sink Applications The Crypto Daily – Movers and Shakers -12/04/20 The Weekly Wrap – COVID-19 and the FED Deliver a Boost to Riskier Assets || Bitcoin futures volume on CME and Bakkt fell sharply in March: Bitcoin futures volume on two regulated platforms - CME Group and Bakkt - fell sharply last month.
According to researchconductedby The Block’s Larry Cermak, CME's daily average volume dropped by over 50% to $242 million in March, as compared to $493 million in February.
Bakkt’s daily average volume, on the other hand, fell by 38.7% in March from $26.94 million to $16.51 million in February.
Both the exchanges’ open interest, or the number of open futures contracts, also dropped month-on-month in March.
CME’s open interest fell to $127 million in March since reaching an all-time high of $338 million on February 14. Bakkt’s open interest, on the other hand, plunged to $4.6 million since reaching an all-time high of $19 million on February 14.
To read thefull analysisand more such data-driven stories, subscribe toThe Block Research. || Bitcoin futures volume on CME and Bakkt fell sharply in March: Bitcoin futures volume on two regulated platforms - CME Group and Bakkt - fell sharply last month. According to research conducted by The Blocks Larry Cermak, CME's daily average volume dropped by over 50% to $242 million in March, as compared to $493 million in February. Bakkts daily average volume, on the other hand, fell by 38.7% in March from $26.94 million to $16.51 million in February. Both the exchanges open interest, or the number of open futures contracts, also dropped month-on-month in March. CMEs open interest fell to $127 million in March since reaching an all-time high of $338 million on February 14. Bakkts open interest, on the other hand, plunged to $4.6 million since reaching an all-time high of $19 million on February 14. To read the full analysis and more such data-driven stories, subscribe to The Block Research . || Bitcoin futures volume on CME and Bakkt fell sharply in March: Bitcoin futures volume on two regulated platforms - CME Group and Bakkt - fell sharply last month.
According to researchconductedby The Block’s Larry Cermak, CME's daily average volume dropped by over 50% to $242 million in March, as compared to $493 million in February.
Bakkt’s daily average volume, on the other hand, fell by 38.7% in March from $26.94 million to $16.51 million in February.
Both the exchanges’ open interest, or the number of open futures contracts, also dropped month-on-month in March.
CME’s open interest fell to $127 million in March since reaching an all-time high of $338 million on February 14. Bakkt’s open interest, on the other hand, plunged to $4.6 million since reaching an all-time high of $19 million on February 14.
To read thefull analysisand more such data-driven stories, subscribe toThe Block Research. || Bitcoin Halving: How Miners Are Preparing for Lower Block Rewards: As the latest bitcoin halving approaches, miners are upgrading equipment, optimizing arrangements, conserving power and more in the race to dominate.
Listen/subscribe to the CoinDesk Podcast feed for unique perspectives and fresh daily insight withApple Podcasts,Spotify,Pocketcasts,Google Podcasts,Castbox,Stitcher,RadioPublica,IHeartRadioorRSS.
How arebitcoin(BTC) miners strategizing for the upcoming halving event, in which block reward subsidies will be cut by 50 percent?
Related:Making Sense of the SEC’s Case Against Telegram
On this week’s episode of “Bitcoin Halving 2020: Miner Perspectives,”Kristy-Leigh MinehanandPavel Moravecgive an in-depth explanation of what miners are doing to maximize profits and increase operational efficiency.
Since October, Minehan explains, bitcoin mining farms have been getting on “the upgrade train” and purchasing state-of-the-art ASIC machines such asthe Antminer S17 and S19. Moravec says bitcoin miners have also been looking at creative ways to cut electricity costs by leveraging surplus energy from certain cities’ power grids.
What started primarily as a hobby in 2009 has flourished over the years, gained broader adoption and ultimately evolved into a new, professional industry.
See also:New York Power Plant Sells 30% of Its Bitcoin Mining Hashrate to Institutional Buyers
Related:Quantitative Tightening and 5 Key Questions for Our Changing World
“We’ve gotten to a point in bitcoin’s history where the government is paying attention and has started to realize bitcoin isn’t going away,” Minehan said. “Mining is not going away. And it’s in their best interest to start working with miners.”
Teaming up with local governments and utility providers is another miner strategy both Minehan and Moravec have seen on the increase in recent years. This is why Minehan believes even the geographic distribution of miners, which was discussed in depthin an earlier podcast episode, may further stretch the industry into North America and Europe. (China remains the dominant locale.)
Listen/subscribe to the CoinDesk Podcast feed for unique perspectives and fresh daily insight withApple Podcasts,Spotify,Pocketcasts,Google Podcasts,Castbox,Stitcher,RadioPublica,IHeartRadioorRSS.
For more information about the bitcoin halving, CoinDesk Research recently published a 30-page report that features additional commentary from Minehan, Moravec and other mining industry experts. The report is free to download onthe CoinDesk website.
• Rebuilding the Resilience Economy, Feat. Anthony Pompliano
• What’s Next for Bitcoin After March’s Crash – CoinDesk Quarterly Review || Bitcoin Halving: How Miners Are Preparing for Lower Block Rewards: As the latest bitcoin halving approaches, miners are upgrading equipment, optimizing arrangements, conserving power and more in the race to dominate.
Listen/subscribe to the CoinDesk Podcast feed for unique perspectives and fresh daily insight withApple Podcasts,Spotify,Pocketcasts,Google Podcasts,Castbox,Stitcher,RadioPublica,IHeartRadioorRSS.
How arebitcoin(BTC) miners strategizing for the upcoming halving event, in which block reward subsidies will be cut by 50 percent?
Related:Making Sense of the SEC’s Case Against Telegram
On this week’s episode of “Bitcoin Halving 2020: Miner Perspectives,”Kristy-Leigh MinehanandPavel Moravecgive an in-depth explanation of what miners are doing to maximize profits and increase operational efficiency.
Since October, Minehan explains, bitcoin mining farms have been getting on “the upgrade train” and purchasing state-of-the-art ASIC machines such asthe Antminer S17 and S19. Moravec says bitcoin miners have also been looking at creative ways to cut electricity costs by leveraging surplus energy from certain cities’ power grids.
What started primarily as a hobby in 2009 has flourished over the years, gained broader adoption and ultimately evolved into a new, professional industry.
See also:New York Power Plant Sells 30% of Its Bitcoin Mining Hashrate to Institutional Buyers
Related:Quantitative Tightening and 5 Key Questions for Our Changing World
“We’ve gotten to a point in bitcoin’s history where the government is paying attention and has started to realize bitcoin isn’t going away,” Minehan said. “Mining is not going away. And it’s in their best interest to start working with miners.”
Teaming up with local governments and utility providers is another miner strategy both Minehan and Moravec have seen on the increase in recent years. This is why Minehan believes even the geographic distribution of miners, which was discussed in depthin an earlier podcast episode, may further stretch the industry into North America and Europe. (China remains the dominant locale.)
Listen/subscribe to the CoinDesk Podcast feed for unique perspectives and fresh daily insight withApple Podcasts,Spotify,Pocketcasts,Google Podcasts,Castbox,Stitcher,RadioPublica,IHeartRadioorRSS.
For more information about the bitcoin halving, CoinDesk Research recently published a 30-page report that features additional commentary from Minehan, Moravec and other mining industry experts. The report is free to download onthe CoinDesk website.
• Rebuilding the Resilience Economy, Feat. Anthony Pompliano
• What’s Next for Bitcoin After March’s Crash – CoinDesk Quarterly Review || Bitcoin Halving: How Miners Are Preparing for Lower Block Rewards: As the latest bitcoin halving approaches, miners are upgrading equipment, optimizing arrangements, conserving power and more in the race to dominate. Listen/subscribe to the CoinDesk Podcast feed for unique perspectives and fresh daily insight with Apple Podcasts , Spotify , Pocketcasts , Google Podcasts , Castbox , Stitcher , RadioPublica , IHeartRadio or RSS . How are bitcoin (BTC) miners strategizing for the upcoming halving event, in which block reward subsidies will be cut by 50 percent? Related: Making Sense of the SECs Case Against Telegram On this weeks episode of Bitcoin Halving 2020: Miner Perspectives, Kristy-Leigh Minehan and Pavel Moravec give an in-depth explanation of what miners are doing to maximize profits and increase operational efficiency. Since October, Minehan explains, bitcoin mining farms have been getting on the upgrade train and purchasing state-of-the-art ASIC machines such as the Antminer S17 and S19 . Moravec says bitcoin miners have also been looking at creative ways to cut electricity costs by leveraging surplus energy from certain cities power grids. What started primarily as a hobby in 2009 has flourished over the years, gained broader adoption and ultimately evolved into a new, professional industry. See also: New York Power Plant Sells 30% of Its Bitcoin Mining Hashrate to Institutional Buyers Related: Quantitative Tightening and 5 Key Questions for Our Changing World Weve gotten to a point in bitcoins history where the government is paying attention and has started to realize bitcoin isnt going away, Minehan said. Mining is not going away. And its in their best interest to start working with miners. Teaming up with local governments and utility providers is another miner strategy both Minehan and Moravec have seen on the increase in recent years. This is why Minehan believes even the geographic distribution of miners, which was discussed in depth in an earlier podcast episode , may further stretch the industry into North America and Europe. (China remains the dominant locale.) Story continues Listen/subscribe to the CoinDesk Podcast feed for unique perspectives and fresh daily insight with Apple Podcasts , Spotify , Pocketcasts , Google Podcasts , Castbox , Stitcher , RadioPublica , IHeartRadio or RSS . For more information about the bitcoin halving, CoinDesk Research recently published a 30-page report that features additional commentary from Minehan, Moravec and other mining industry experts. The report is free to download on the CoinDesk website. Related Stories Rebuilding the Resilience Economy, Feat. Anthony Pompliano Whats Next for Bitcoin After Marchs Crash CoinDesk Quarterly Review || Coinbase-powered Oobit Launches Crypto ‘SkyScanner’ Equivalent with Integrated Fiat Gateway: SINGAPORE, SINGAPORE / ACCESSWIRE / April 11, 2020 / Oobit is delighted to announce the launch of its gateway solution for the cryptocurrency sector. Users will gain access to multiple features, including the ability to compare prices and offerings across different exchanges, as well as a single KYC passport for use on multiple trading platforms. Oobit has also partnered with Coinbase for the provision of wallet, escrow, and custodial services, meaning users are assured of a high degree of security. Oobit empowers users of all levels to identify trading opportunities across all sources of liquidity, bringing visibility and trust to the entire cryptocurrency ecosystem. The core features of Oobit are as follows. Oobit Hunter is to cryptocurrency what Skyscanner or Expedia are to flights. It's an AI-driven liquidity aggregator that discovers the best prices by searching across various fiat to crypto onboarding platforms. Users access the feature via an intuitive web interface. Hunter comprises two parts. It provides a peer-to-peer trading service, similar to that offered by LocalBitcoins, using Coinbase's trusted and highly secure infrastructure for escrow and digital asset custody. It also acts as a search engine for trading opportunities across worldwide exchange platforms. Oobit Hunter can provide value to anyone from newcomers looking for the best place to buy cryptocurrencies with fiat, to advanced traders seeking to profit from exchange arbitrage. Oobit Pass is a unified know-your-customer (KYC) passport that enables users to submit their personal information once so that they're pre-verified for trading on multiple exchange outlets. It uses advanced face and optical character recognition for fast approval, reducing the wait time to start trading. Cryptocurrency exchanges can opt into the service, thus reducing their own KYC burden and streamlining the onboarding process so that traders are up and running immediately after signup. Story continues All personal data and documents stored on Oobit Pass is secured with military-grade local encryption to protect against identity theft. Oobit Direct offers a fast and easy means of using a credit or debit card to buy cryptocurrencies within minutes. Oobit xMap offers merchants the business tools they need for integrating cryptocurrencies into their operations. This may be for payments or to gain exposure to the growing cryptocurrency community. The map shows all crypto ATMs and physical exchanges across the globe. Lastly, Oobit Wallet is a cryptocurrency wallet integrated into the broader Oobit user interface and powered by Coinbase. While Oobit operates the wallet architecture, user funds are stored on the Coinbase custodial wallet. Currently, it supports Bitcoin, with zero deposit fees and only a nominal fee for withdrawals. Integration with more cryptocurrencies is coming soon. The Oobit Team Oobit is led by a team experienced in areas including finance, marketing, and private equity funding. Amram Adar, co-founder and CEO, previously led the development and design teams in Wacetech Investments Ltd. Moshe Schlisser, Chairman, is the co-founder of Shefa Capital, before which he served as Managing Partner of Iberica Investments. Speaking of the Oobit launch, CEO Amram Adar said: "We are delighted to bring Oobit's multifunctional incentivized gateway solution to cryptocurrency users across the globe. Whereas most established industries have comparison platforms that make it easy for users to decide between the products and services of different providers, until now, there has been no such solution for cryptocurrency users. We believe the launch of Oobit will play a pivotal role in helping traders worldwide make decisions about buying and selling cryptocurrencies." Users can also look forward to other new features arriving soon. These include a crypto-to-crypto (C2C) exchange service and Oobit Pay , a debit card which will provide users with a fiat denominated wallet and allow them to convert crypto to fiat once loaded to their card. About Oobit Oobit started in 2017 as a simple P2P trading community where users could connect to buy and sell Bitcoin. However, in order to ensure users could access the best liquidity, the company evolved to develop a web-based platform to identify trading opportunities worldwide, bringing trust and visibility to the entire cryptocurrency ecosystem. Oobit's incentivized gateway solution can handle millions of trades posted on Oobit annually, across more than 70 locations worldwide. Oobit makes it fast, simple, and secure to buy, sell, and trade anywhere, any time. For more information please visit: www.oobit.com Contact: Dan Edelstein pr@marketacross.com +972-545-464-238 SOURCE: Oobit View source version on accesswire.com: https://www.accesswire.com/584725/Coinbase-powered-Oobit-Launches-Crypto-SkyScanner-Equivalent-with-Integrated-Fiat-Gateway || Coinbase-powered Oobit Launches Crypto ‘SkyScanner’ Equivalent with Integrated Fiat Gateway: SINGAPORE, SINGAPORE / ACCESSWIRE / April 11, 2020 /Oobit is delighted to announce the launch of its gateway solution for the cryptocurrency sector. Users will gain access to multiple features, including the ability to compare prices and offerings across different exchanges, as well as a single KYC passport for use on multiple trading platforms. Oobit has also partnered with Coinbase for the provision of wallet, escrow, and custodial services, meaning users are assured of a high degree of security.
Oobit empowers users of all levels to identify trading opportunities across all sources of liquidity, bringing visibility and trust to the entire cryptocurrency ecosystem.
The core features of Oobit are as follows.
Oobit Hunteris to cryptocurrency what Skyscanner or Expedia are to flights. It's an AI-driven liquidity aggregator that discovers the best prices by searching across various fiat to crypto onboarding platforms. Users access the feature via an intuitive web interface.
Hunter comprises two parts. It provides a peer-to-peer trading service, similar to that offered by LocalBitcoins, using Coinbase's trusted and highly secure infrastructure for escrow and digital asset custody. It also acts as a search engine for trading opportunities across worldwide exchange platforms.
Oobit Hunter can provide value to anyone from newcomers looking for the best place to buy cryptocurrencies with fiat, to advanced traders seeking to profit from exchange arbitrage.
Oobit Passis a unified know-your-customer (KYC) passport that enables users to submit their personal information once so that they're pre-verified for trading on multiple exchange outlets. It uses advanced face and optical character recognition for fast approval, reducing the wait time to start trading.
Cryptocurrency exchanges can opt into the service, thus reducing their own KYC burden and streamlining the onboarding process so that traders are up and running immediately after signup.
All personal data and documents stored on Oobit Pass is secured with military-grade local encryption to protect against identity theft.
Oobit Directoffers a fast and easy means of using a credit or debit card to buy cryptocurrencies within minutes.
Oobit xMapoffers merchants the business tools they need for integrating cryptocurrencies into their operations. This may be for payments or to gain exposure to the growing cryptocurrency community. The map shows all crypto ATMs and physical exchanges across the globe.
Lastly,Oobit Walletis a cryptocurrency wallet integrated into the broader Oobit user interface and powered by Coinbase. While Oobit operates the wallet architecture, user funds are stored on the Coinbase custodial wallet. Currently, it supports Bitcoin, with zero deposit fees and only a nominal fee for withdrawals. Integration with more cryptocurrencies is coming soon.
The Oobit Team
Oobit is led by a team experienced in areas including finance, marketing, and private equity funding. Amram Adar, co-founder and CEO, previously led the development and design teams in Wacetech Investments Ltd. Moshe Schlisser, Chairman, is the co-founder of Shefa Capital, before which he served as Managing Partner of Iberica Investments.
Speaking of the Oobit launch, CEO Amram Adar said:
"We are delighted to bring Oobit's multifunctional incentivized gateway solution to cryptocurrency users across the globe. Whereas most established industries have comparison platforms that make it easy for users to decide between the products and services of different providers, until now, there has been no such solution for cryptocurrency users. We believe the launch of Oobit will play a pivotal role in helping traders worldwide make decisions about buying and selling cryptocurrencies."
Users can also look forward to other new features arriving soon. These include a crypto-to-crypto (C2C) exchange service andOobit Pay, a debit card which will provide users with a fiat denominated wallet and allow them to convert crypto to fiat once loaded to their card.
About Oobit
Oobit started in 2017 as a simple P2P trading community where users could connect to buy and sell Bitcoin. However, in order to ensure users could access the best liquidity, the company evolved to develop a web-based platform to identify trading opportunities worldwide, bringing trust and visibility to the entire cryptocurrency ecosystem.
Oobit's incentivized gateway solution can handle millions of trades posted on Oobit annually, across more than 70 locations worldwide. Oobit makes it fast, simple, and secure to buy, sell, and trade anywhere, any time.
For more information please visit:www.oobit.com
Contact:
Dan Edelsteinpr@marketacross.com+972-545-464-238
SOURCE:Oobit
View source version on accesswire.com:https://www.accesswire.com/584725/Coinbase-powered-Oobit-Launches-Crypto-SkyScanner-Equivalent-with-Integrated-Fiat-Gateway || The Crypto Daily – Movers and Shakers -11/04/20: Bitcoin slid by 5.73% on Friday. Following on from a 1.00% fall on Thursday, Bitcoin ended the day at $6,875.5.
A bullish start to the day saw Bitcoin rise to an early morning intraday high $7,305.8 before hitting reverse.
Coming up short of the first major resistance level at $7,403.93, Bitcoin tumbled to a late afternoon intraday low $6,756.3.
Bitcoin fell through the first major support level at $7,150.23 and the second major support level at $7,006.77.
Finding support at the third major support level at $6,753.07, Bitcoin briefly revisited $6,900 levels before easing back.
The near-term bearish trend, formed at late June 2019’s swing hi $13,764.0, remained firmly intact, reaffirmed by the March swing lo $4,000.
For the bulls, Bitcoin would need to break out from $10,000 levels to form a near-term bullish trend.
Across the rest of the majors, it was also a bearish day on Thursday.
Bitcoin Cash SV led the way down, with a 13.59% loss.
Binance Coin (-8.57%), Bitcoin Cash ABC (-8.90%), Cardano’s ADA (-7.86%), EOS (-8.69%), Litecoin (-8.49%), Monero’s XMR (-7.78%), Stellar’s Lumen (-7.85%), Tezos (-9.56%), and Tron’s TRX (-7.30%) also saw heavy losses.
Ethereum and Ripple’s XRP saw relatively modest losses of 6.84% and 5.73% on the day.
Through the current week, the crypto total market cap rose from a Monday low $190.55bn to a Tuesday high $211.57bn. A choppy mid-week saw the total market cap fall back to $193bn levels in the Friday sell-off. At the time of writing, the total market cap stood at $197.03bn.
Bitcoin’s dominance continued to ease back from 65% levels seen on Monday. At the time of writing, Bitcoin’s dominance stood at 64.1%.
24-hour trading volumes recovered from sub-$100bn levels to hit $171bn levels on Tuesday before easing back. At the time of writing, 24-hr volumes stood at $149.77bn.
At the time of writing, Bitcoin was up by 0.49% to $6,909.0. A bullish start to the day saw Bitcoin rise from an early morning low $6,850.1 to a high $6,933.0.
Bitcoin left the major support and resistance levels untested early on.
Elsewhere, it was also a bullish start to the day.
Bitcoin Cash SV (+1.87%), Tezos (+2.25%), and Tron’s TRX (+1.67%) led the way early on.
Bitcoin would need to move through to $6,980 levels to bring the first major resistance level at $7,202.10 into play.
Support from the broader market would be needed, however, for Bitcoin to break back through to $7,100 levels.
Barring a broad-based crypto rally, resistance at $7,100 would likely leave Bitcoin short of the first major resistance level.
Failure to move back through to $6,980 levels could see Bitcoin fall back into the red.
A fall back through the morning low $6,850.1 would bring the first major support level at $6,652.6 into play.
Barring an extended crypto sell-off, however, Bitcoin should continue to steer of sub-$6,500 support levels.
Thisarticlewas originally posted on FX Empire
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• AUD/USD Forex Technical Analysis – Needs to Hold Above .6236 to Generate Upside Momentum || The Crypto Daily – Movers and Shakers -11/04/20: Bitcoin slid by 5.73% on Friday. Following on from a 1.00% fall on Thursday, Bitcoin ended the day at $6,875.5. A bullish start to the day saw Bitcoin rise to an early morning intraday high $7,305.8 before hitting reverse. Coming up short of the first major resistance level at $7,403.93, Bitcoin tumbled to a late afternoon intraday low $6,756.3. Bitcoin fell through the first major support level at $7,150.23 and the second major support level at $7,006.77. Finding support at the third major support level at $6,753.07, Bitcoin briefly revisited $6,900 levels before easing back. The near-term bearish trend, formed at late June 2019’s swing hi $13,764.0, remained firmly intact, reaffirmed by the March swing lo $4,000. For the bulls, Bitcoin would need to break out from $10,000 levels to form a near-term bullish trend. The Rest of the Pack Across the rest of the majors, it was also a bearish day on Thursday. Bitcoin Cash SV led the way down, with a 13.59% loss. Binance Coin (-8.57%), Bitcoin Cash ABC (-8.90%), Cardano’s ADA (-7.86%), EOS (-8.69%), Litecoin (-8.49%), Monero’s XMR (-7.78%), Stellar’s Lumen (-7.85%), Tezos (-9.56%), and Tron’s TRX (-7.30%) also saw heavy losses. Ethereum and Ripple’s XRP saw relatively modest losses of 6.84% and 5.73% on the day. Through the current week, the crypto total market cap rose from a Monday low $190.55bn to a Tuesday high $211.57bn. A choppy mid-week saw the total market cap fall back to $193bn levels in the Friday sell-off. At the time of writing, the total market cap stood at $197.03bn. Bitcoin’s dominance continued to ease back from 65% levels seen on Monday. At the time of writing, Bitcoin’s dominance stood at 64.1%. 24-hour trading volumes recovered from sub-$100bn levels to hit $171bn levels on Tuesday before easing back. At the time of writing, 24-hr volumes stood at $149.77bn. This Morning At the time of writing, Bitcoin was up by 0.49% to $6,909.0. A bullish start to the day saw Bitcoin rise from an early morning low $6,850.1 to a high $6,933.0. Story continues Bitcoin left the major support and resistance levels untested early on. Elsewhere, it was also a bullish start to the day. Bitcoin Cash SV (+1.87%), Tezos (+2.25%), and Tron’s TRX (+1.67%) led the way early on. For the Bitcoin Day Ahead Bitcoin would need to move through to $6,980 levels to bring the first major resistance level at $7,202.10 into play. Support from the broader market would be needed, however, for Bitcoin to break back through to $7,100 levels. Barring a broad-based crypto rally, resistance at $7,100 would likely leave Bitcoin short of the first major resistance level. Failure to move back through to $6,980 levels could see Bitcoin fall back into the red. A fall back through the morning low $6,850.1 would bring the first major support level at $6,652.6 into play. Barring an extended crypto sell-off, however, Bitcoin should continue to steer of sub-$6,500 support levels. This article was originally posted on FX Empire More From FXEMPIRE: EOS, Ethereum and Ripple’s XRP – Daily Tech Analysis – 11/04/20 Price of Gold Fundamental Daily Forecast – Federal Reserve: The Gold Investors Best Friend The Crypto Daily – Movers and Shakers -11/04/20 S&P 500 Price Forecast – Stock Markets Close Out The Week On A Positive Note The Weekly Wrap – COVID-19 and the FED Deliver a Boost to Riskier Assets AUD/USD Forex Technical Analysis – Needs to Hold Above .6236 to Generate Upside Momentum || Reddit May Use Ethereum for a New Token-Based Points System: Reddit is experimenting with recording points and perks on a blockchain. According to a user post on the social media platform and confirmed by a company spokesperson, Reddit is experimenting with “Community Points” – a new system for subreddits (communities) that gives power users extra benefits. These Community Points are apparently stored using Ethereum’s ERC-20 token standard. According to the video by Reddit user MagoCrypto, the site will publish a list of users and their karma every four weeks; allow the community’s users to propose any changes; and then sign off on the list, allowing users to claim Community Points. Related: ‘Bullish’ Comments on Reddit a Potential Bitcoin Signal In a statement, a Reddit spokesperson said, “We continuously experiment with ways to support communities on Reddit. In this instance, we’re working with one community to test a feature that represents a user’s involvement in a community. We value and seek out community feedback as we continue to explore features that engage our users and communities.” The spokesperson declined to confirm whether the project was being tested on Ethereum or provide further details. Polls and perks These community points differ from karma – Reddit’s longstanding in-house points system – in a few ways, according to the video. Reddit controls all karma, while the community points are ERC-20 tokens and therefore exist outside of Reddit’s control. Points can also be used to buy “Special Memberships” granting the right to use emojis and GIFs in comments or weight polls, according to the video shared by MagoCrypto. Related: I Was Reddit’s First (And Only) Cryptocurrency Engineer Reddit users who don’t have enough points can also buy Special Memberships directly from Reddit. “Community points are fully controlled by the people who own them,” according to the video. “They live on the Ethereum blockchain, which is the same technology as Bitcoin to guarantee property rights and control. Even Reddit cannot take them away.” Story continues Polls conducted in a community with points will show both what the total votes are for vote-per-person, as well as the weighted total for vote-per-point, meaning users with more points will have an outsize impact on the poll. “This allows the community to see how core contributors feel,” the post said. Wallets Reddit users can access their Community Points through the Reddit mobile app, though comments from users indicate that it may only be rolled out to a small number so far. The app has a wallet function that lets users see their total balance. “Behind the scenes, your wallet is a way to access the Ethereum blockchain,” the post said. “When your wallet is created it generates a public address and a private key.” The private key is known only to the app’s user, and Reddit advises users to create a backup or write the keys down someplace safe. While Reddit has not formally acknowledged that it is testing this system on Ethereum, co-founder Alexis Ohanian has publicly been a crypto supporter since at least 2018, and the company has offered support for crypto as a payment tool for years. Ohanian’s venture firm, Initialized Capital, has also funded other crypto projects, including Horizon Games’ SkyWeaver , a video game powered by Ethereum. Related Stories DARPA-Funded Study Looks at How Crypto Chats Spread on Reddit Ethereum’s Reddit Moderators Resign Amid Controversy || Reddit May Use Ethereum for a New Token-Based Points System: Reddit is experimenting with recording points and perks on a blockchain.
Accordingto a user poston the social media platform and confirmed by a company spokesperson, Reddit is experimenting with “Community Points” – a new system for subreddits (communities) that gives power users extra benefits. These Community Points are apparently stored using Ethereum’s ERC-20 token standard.
According tothe videoby Reddit user MagoCrypto, the site will publish a list of users and their karma every four weeks; allow the community’s users to propose any changes; and then sign off on the list, allowing users to claim Community Points.
Related:‘Bullish’ Comments on Reddit a Potential Bitcoin Signal
In a statement, a Reddit spokesperson said, “We continuously experiment with ways to support communities on Reddit. In this instance, we’re working with one community to test a feature that represents a user’s involvement in a community. We value and seek out community feedback as we continue to explore features that engage our users and communities.”
The spokesperson declined to confirm whether the project was being tested on Ethereum or provide further details.
These community points differ from karma –Reddit’s longstanding in-house points system– in a few ways, according to the video.
Reddit controls all karma, while the community points are ERC-20 tokens and therefore exist outside of Reddit’s control. Points can also be used to buy “Special Memberships” granting the right to use emojis and GIFs in comments or weight polls, according to the video shared by MagoCrypto.
Related:I Was Reddit’s First (And Only) Cryptocurrency Engineer
Reddit users who don’t have enough points can also buy Special Memberships directly from Reddit.
“Community points are fully controlled by the people who own them,” according to the video. “They live on the Ethereum blockchain, which is the same technology as Bitcoin to guarantee property rights and control. Even Reddit cannot take them away.”
Polls conducted in a community with points will show both what the total votes are for vote-per-person, as well as the weighted total for vote-per-point, meaning users with more points will have an outsize impact on the poll.
“This allows the community to see how core contributors feel,” the post said.
Reddit users can access their Community Points through the Reddit mobile app, though comments from users indicate that it may only be rolled out to a small number so far. The app has a wallet function that lets users see their total balance.
“Behind the scenes, your wallet is a way to access the Ethereum blockchain,” the post said. “When your wallet is created it generates a public address and a private key.”
The private key is known only to the app’s user, and Reddit advises users to create a backup or write the keys down someplace safe.
While Reddit has not formally acknowledged that it is testing this system on Ethereum, co-founder Alexis Ohanian haspublicly been a crypto supportersince at least 2018, and the company hasoffered support for cryptoas a payment tool for years.
Ohanian’s venture firm, Initialized Capital, has also funded other crypto projects,including Horizon Games’ SkyWeaver, a video game powered by Ethereum.
• DARPA-Funded Study Looks at How Crypto Chats Spread on Reddit
• Ethereum’s Reddit Moderators Resign Amid Controversy
[Social Media Buzz]
None available.
|
6842.43, 6642.11, 7116.80, 7096.18, 7257.67, 7189.42, 6881.96, 6880.32, 7117.21, 7429.72
|
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 2947.71, 2958.11, 2659.63, 2717.02, 2506.37, 2464.58, 2518.56, 2655.88, 2548.29, 2589.60, 2721.79, 2689.10, 2705.41, 2744.91, 2608.72, 2589.41, 2478.45, 2552.45, 2574.79, 2539.32, 2480.84, 2434.55, 2506.47, 2564.06, 2601.64, 2601.99, 2608.56, 2518.66, 2571.34, 2518.44, 2372.56, 2337.79, 2398.84, 2357.90, 2233.34, 1998.86, 1929.82, 2228.41, 2318.88, 2273.43, 2817.60, 2667.76, 2810.12, 2730.40, 2754.86, 2576.48, 2529.45, 2671.78, 2809.01, 2726.45, 2757.18, 2875.34, 2718.26, 2710.67, 2804.73, 2895.89, 3252.91, 3213.94, 3378.94, 3419.94, 3342.47, 3381.28, 3650.62, 3884.71, 4073.26, 4325.13, 4181.93, 4376.63, 4331.69, 4160.62, 4193.70, 4087.66, 4001.74, 4100.52, 4151.52, 4334.68, 4371.60, 4352.40, 4382.88, 4382.66, 4579.02, 4565.30, 4703.39, 4892.01, 4578.77, 4582.96, 4236.31, 4376.53, 4597.12, 4599.88.
|
[Bitcoin Technical Analysis for 2017-09-07]
Volume: 1844620032, RSI (14-day): 61.03, 50-day EMA: 3838.07, 200-day EMA: 2544.43
[Wider Market Context]
Gold Price: 1345.10, Gold RSI: 76.53
Oil Price: 49.09, Oil RSI: 57.79
[Recent News (last 7 days)]
T-Mobile COO Mike Sievert on free Netflix: T-Mobile ( TMUS) announced Wednesday that its giving a free Netflix ( NFLX ) account to anyone on a T-Mobile family plana value of $120 a year, per T-Mobile customer. In the video above, I got to ask T-Mobile Chief Operating Officer Mike Sievert the hard questions: How can they afford this? Why is it only for family plans? And
when are you going to improve your service coverage? Sievert acknowledged that the free Netflix represented a big investment. This is $120 a year back into our customers pockets. This is a big deal, he said. Later, he added, We make these big crazy investments, they seem crazy on the surface. But we know that if they result in customers coming to us and staying with us longer, well get revenues from them. In this case, the offer for free Netflix is good for any family with two or more T-Mobile One lines ($40 per line, unlimitedtaxes and fees included). Our two biggest competitors [AT&T and Verizon] are creating these carrier/content mashups, says Clint Patterson, T-Mobiles communications director. Theyre buying the content, buying the distribution, and their strategy is to bundle it. They want to quad-play customers out of their minds, and charge more and more for it. He notes, for example, that AT&T ( T ) bundles DirecTV. This will be the year, he says, when Americans will watch more video on their phones, tablets, and laptops than on their TV sets, so it makes sense to offer its customers internet video instead of a cable or satellite bundle. We feel like were leapfrogging the other carriers, Patterson says. Theyre gonna be screaming at their management consultants, How could this happen? More from David Pogue: How Apples iPhone has improved since its 2007 debut Gullivers Gate is a $40 million world of miniatures in Times Square The 5 best new features of this weeks YouTube redesign Samsungs Bixby voice assistant is ambitious, powerful, and half-baked Is through-the-air charging a hoax? Story continues Electrify your existing bike in 2 minutes with these ingenious wheels Marty Cooper, inventor of the cellphone: The next step is implantables The David Pogue Review: Windows 10 Creators Update Now I get it: Bitcoin David Pogues search for the worlds best air-travel app The little-known iPhone feature that lets blind people see with their fingers David Pogue, tech columnist for Yahoo Finance, welcomes nontoxic comments in the comments section below. On the web, hes davidpogue.com . On Twitter, hes @pogue . On email, hes poguester@yahoo.com. You can read all his articles here , or you can sign up to get his columns by email . || T-Mobile COO: Why we make investments like free Netflix that 'seem crazy': T-Mobile (TMUS)announced Wednesday that it’s giving a free Netflix (NFLX) account to anyone on a T-Mobile family plan—a value of $120 a year, per T-Mobile customer.
In the video above, I got to ask T-Mobile Chief Operating Officer Mike Sievert the hard questions: How can they afford this? Why is it only for family plans? And…when are you going to improve your service coverage?
Sievert acknowledged that the free Netflix represented a big investment.
“This is $120 a year back into our customers’ pockets. This is a big deal,” he said. Later, he added, “We make these big crazy investments, they seem crazy on the surface. But we know that if they result in customers coming to us and staying with us longer, we’ll get revenues from them.”
In this case, the offer for free Netflix is good for any family with two or more T-Mobile One lines ($40 per line, unlimited—taxes and fees included).
“Our two biggest competitors [AT&T and Verizon] are creating these carrier/content mashups,” says Clint Patterson, T-Mobile’s communications director. “They’re buying the content, buying the distribution, and their strategy is to bundle it. They want to ‘quad-play’ customers out of their minds, and charge more and more for it.” He notes, for example, that AT&T (T) “bundles DirecTV.”
This will be the year, he says, when Americans will watch more video on their phones, tablets, and laptops than on their TV sets, so it makes sense to offer its customers internet video instead of a cable or satellite bundle. “We feel like we’re leapfrogging the other carriers,” Patterson says. “They’re gonna be screaming at their management consultants, ‘How could this happen?’”
More from David Pogue:
How Apple’s iPhone has improved since its 2007 debut
Gulliver’s Gate is a $40 million world of miniatures in Times Square
The 5 best new features of this week’s YouTube redesign
Samsung’s Bixby voice assistant is ambitious, powerful, and half-baked
Is through-the-air charging a hoax?
Electrify your existing bike in 2 minutes with these ingenious wheels
Marty Cooper, inventor of the cellphone: The next step is implantables
The David Pogue Review: Windows 10 Creators Update
Now I get it: Bitcoin
David Pogue’s search for the world’s best air-travel app
The little-known iPhone feature that lets blind people see with their fingers
David Pogue, tech columnist for Yahoo Finance, welcomes nontoxic comments in the comments section below. On the web, he’sdavidpogue.com. On Twitter, he’s@pogue. On email, he’s poguester@yahoo.com. You canread all his articles here, or you can sign up toget his columns by email. || Bitcoin rebound gathers pace; eyes return to recent peak: Bitcoin rebounded from a dip below $4,000 on Tuesday Investing.com Bitcoin traded higher on Wednesday shrugging off concerns over the fallout from the recent Chinese crackdown on individuals and businesses who use initial coin offerings (ICOs) to raise funds. On the U.S.-based Bitfinex exchange, bitcoin rose to $4,586.6, up $211.6 or 4.84%, as it seeks to return to its recent peak of $4,911.80. At current prices Bitcoin boasts a market cap of $76.17 billion. Bitcoin continued to pare its recent losses, following the Peoples Bank of China decision to ban individuals and businesses from raising funds through initial coin offerings (ICOs). The Peoples Bank of China said on its website Monday that it had completed investigations into ICOs, and will strictly punish offerings in the future while penalizing legal violations in ones already completed. An initial coin offering ICO is a means fundraising via the use of cryptocurrency in which a company attracts investors by releasing its own digital currency which can appreciate in value if the business is successful. The Chinese governments latest measures to curb the activity of initial coin offerings are seen as a threat to the strong demand currently underpinning cryptocurrency growth. Ethereum, in particular, is widely believed to vulnerable to a dip in demand following these latest regulatory measures, as ICO issuers often request payment in ether a currency transacted through the Ethereum network. Investors, however, appeared to shrug off these concerns as the total market capitalization for cryptocurrencies continued to gather momentum, rising to nearly $163 billion. Ethereum traded 6.53% to $336.68 while Bitcoin Cash rose $103.83, or 19.05%, to $649. To stay on top of the latest moves in the crypto-space, be sure to check out: https://www.investing.com/crypto/ Related Articles Bitcoin rebound gathers pace; eyes return to recent peak Dollar off lows as US services sector growth returns Forex - Dollar remains broadly lower after ISM data disappoints || Bitcoin rebound gathers pace; eyes return to recent peak: Investing.com – Bitcoin traded higher on Wednesday shrugging off concerns over the fallout from the recent Chinese crackdown on individuals and businesses who use initial coin offerings (ICOs) to raise funds.
On the U.S.-based Bitfinex exchange, bitcoin rose to $4,586.6, up $211.6 or 4.84%, as it seeks to return to its recent peak of $4,911.80. At current prices Bitcoin boasts a market cap of $76.17 billion.
Bitcoin continued to pare its recent losses, following the People’s Bank of China decision to ban individuals and businesses from raising funds through initial coin offerings (ICOs).
The People’s Bank of China said on its website Monday that it had completed investigations into ICOs, and will strictly punish offerings in the future while penalizing legal violations in ones already completed.
An initial coin offering ICO is a means fundraising via the use of cryptocurrency in which a company attracts investors by releasing its own digital currency which can appreciate in value if the business is successful.
The Chinese government’s latest measures to curb the activity of initial coin offerings are seen as a threat to the strong demand currently underpinning cryptocurrency growth.
Ethereum, in particular, is widely believed to vulnerable to a dip in demand following these latest regulatory measures, as ICO issuers often request payment in ether – a currency transacted through the Ethereum network.
Investors, however, appeared to shrug off these concerns as the total market capitalization for cryptocurrencies continued to gather momentum, rising to nearly $163 billion.
Ethereum traded 6.53% to $336.68 while Bitcoin Cash rose $103.83, or 19.05%, to $649.
To stay on top of the latest moves in the crypto-space, be sure to check out:https://www.investing.com/crypto/
Related Articles
Bitcoin rebound gathers pace; eyes return to recent peak
Dollar off lows as US services sector growth returns
Forex - Dollar remains broadly lower after ISM data disappoints || Bitcoin rebound gathers pace; eyes return to recent peak: Investing.com – Bitcoin traded higher on Wednesday shrugging off concerns over the fallout from the recent Chinese crackdown on individuals and businesses who use initial coin offerings (ICOs) to raise funds.
On the U.S.-based Bitfinex exchange, bitcoin rose to $4,586.6, up $211.6 or 4.84%, as it seeks to return to its recent peak of $4,911.80. At current prices Bitcoin boasts a market cap of $76.17 billion.
Bitcoin continued to pare its recent losses, following the People’s Bank of China decision to ban individuals and businesses from raising funds through initial coin offerings (ICOs).
The People’s Bank of China said on its website Monday that it had completed investigations into ICOs, and will strictly punish offerings in the future while penalizing legal violations in ones already completed.
An initial coin offering ICO is a means fundraising via the use of cryptocurrency in which a company attracts investors by releasing its own digital currency which can appreciate in value if the business is successful.
The Chinese government’s latest measures to curb the activity of initial coin offerings are seen as a threat to the strong demand currently underpinning cryptocurrency growth.
Ethereum, in particular, is widely believed to vulnerable to a dip in demand following these latest regulatory measures, as ICO issuers often request payment in ether – a currency transacted through the Ethereum network.
Investors, however, appeared to shrug off these concerns as the total market capitalization for cryptocurrencies continued to gather momentum, rising to nearly $163 billion.
Ethereum traded 6.53% to $336.68 while Bitcoin Cash rose $103.83, or 19.05%, to $649.
To stay on top of the latest moves in the crypto-space, be sure to check out:https://www.investing.com/crypto/
Related Articles
Bitcoin rebound gathers pace; eyes return to recent peak
Dollar off lows as US services sector growth returns
Forex - Dollar remains broadly lower after ISM data disappoints || Should You Buy Nvidia (NVDA) Stock Right Now?: If you’ve been paying attention to tech stocks over the past few year or so, one name has emerged as the most exciting growth opportunity in the industry: Nvidia NVDA. Shares of this remarkable graphics chip manufacturer have soared more than 58% in 2017 alone, and so long as the tech sector stays hot, Nvidia is showing very few signs of slowing down. Of course, Nvidia is also a perfect example of investors tossing several traditional valuation metrics to the wind. At 46x earnings and 11x sales, this stock isn’t cheap—but in today’s tech sector, even the priciest stocks can still provide solid returns. However, the introduction of some fresh volatility has hampered tech stocks recently. This once red-hot sector has plateaued over the past month or so, and investors look ready to slow things down and reevaluate as we begin to wrap up the calendar year. So is it too late to be buying Nvidia right now, or does this investor favorite still have some profits to produce in the latter portion of 2017? Let’s take a closer look. Fundamental Outlook As we dive into Nvidia’s financials, let’s check out some of the company’s key fundamentals: As we can see, Nvidia is currently sporting an “A” grade for Momentum in our Style Scores system. With an “F” for Value and “C” for Growth, this category is clearly Nvidia’s strongest—and this makes sense given the stock’s insane price action over the past year. Still, Nvidia has pin-balled around over the last couple of weeks, and the stock currently sits about 5% below its 52-week high of $174.56 per share. This means that NVDA actually has some room to grow before it attempts to break into a new range, which should interest investors that worry about buying a stock at the very top of its 52-week high. What’s more, the company looks poised to deliver impressive growth in several key areas. For one, the Zacks Consensus Estimate is currently calling for EPS growth of 40.13% this fiscal year. Nvidia has also surpassed our consensus estimate by an average of 35% in each of the trailing four quarters, so it would hardly be a surprise if the company outperformed again, surpassing this expected growth rate in the process. Furthermore, Nvidia is absolutely raking in the cash right now. In fact, the company’s current cash flow growth is significantly better than the 18.34% average cash flow growth it has recorded over the past three to five years. This implies that Nvidia’s financial position is improving, which should benefit the company long-term as it attempts to transition from exciting growth prospect to established industry leader. Story continues Also, we should note that our current consensus estimates are calling for Nvidia to post GPU sales of $7.45 billion this fiscal year. Last year, the company recorded sales of $5.82 billion in this all-important segment, so this result would represent strong year-over-year growth. Nvidia owes a lot of this growth to the continued strength of the gaming market, as its top-of-the-line graphics processors are a favorite among hardcore PC gamers. But on top of this, Nvidia and other GPU makers like AMD AMD have benefitted from increased demand from cryptocurrency miners. As the prices of popular digital currencies like Bitcoin and Ethereum have soared, more and more users are building personal super-computers to “mine” them. This has resulted in an entirely new market for Nvidia, whose high-end GPUs provide the power that these miners need. Overall, this new market speaks to the greatest strength for Nvidia right now: potential. Even with its remarkable growth to this point, Nvidia stands to benefit even more from the advent of artificial intelligence and self-driving cars—two emerging markets that it is already a dominant leader in. Of course, we also need to point out that Nvidia is currently a Zacks Rank #1 (Strong Buy). Earnings Estimate Revisions Remember, the Zacks Rank is heavily influenced by earnings estimate revisions, so let’s check out a quick snapshot of the revision activity we have seen for Nvidia recently: As is pretty obvious from the above snapshot, Nvidia’s estimate revision activity has been incredibly strong recently. We’ve seen significant improvements and unanimous analyst agreement for each of the company’s upcoming fiscal periods, including next year. Here at Zacks, we believe these positive revisions are one of the best available indicators of future share price performance. These analysts spend hours poring over all of the latest financial information, so if they feel like the company’s outlook is improving, it’s typically a good sign. Want more stock market analysis from this author? Make sure to follow @Ryan_McQueeney on Twitter! 4 Surprising Tech Stocks to Keep an Eye On Tech stocks have been a major force behind the market’s record highs, but picking the best ones to buy can be tough. There’s a simple way to invest in the success of the entire sector. Zacks has just released a Special Report revealing one thing tech companies literally cannot function without . More importantly, it reveals 4 top stocks set to skyrocket on increasing demand for these devices. I encourage you to get the report now – before the next wave of innovations really take off. S ee Stocks Now>> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Advanced Micro Devices, Inc. (AMD) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research View comments || Should You Buy Nvidia (NVDA) Stock Right Now?: If you’ve been paying attention to tech stocks over the past few year or so, one name has emerged as the most exciting growth opportunity in the industry: Nvidia NVDA. Shares of this remarkable graphics chip manufacturer have soared more than 58% in 2017 alone, and so long as the tech sector stays hot, Nvidia is showing very few signs of slowing down. Of course, Nvidia is also a perfect example of investors tossing several traditional valuation metrics to the wind. At 46x earnings and 11x sales, this stock isn’t cheap—but in today’s tech sector, even the priciest stocks can still provide solid returns. However, the introduction of some fresh volatility has hampered tech stocks recently. This once red-hot sector has plateaued over the past month or so, and investors look ready to slow things down and reevaluate as we begin to wrap up the calendar year. So is it too late to be buying Nvidia right now, or does this investor favorite still have some profits to produce in the latter portion of 2017? Let’s take a closer look. Fundamental Outlook As we dive into Nvidia’s financials, let’s check out some of the company’s key fundamentals: As we can see, Nvidia is currently sporting an “A” grade for Momentum in our Style Scores system. With an “F” for Value and “C” for Growth, this category is clearly Nvidia’s strongest—and this makes sense given the stock’s insane price action over the past year. Still, Nvidia has pin-balled around over the last couple of weeks, and the stock currently sits about 5% below its 52-week high of $174.56 per share. This means that NVDA actually has some room to grow before it attempts to break into a new range, which should interest investors that worry about buying a stock at the very top of its 52-week high. What’s more, the company looks poised to deliver impressive growth in several key areas. For one, the Zacks Consensus Estimate is currently calling for EPS growth of 40.13% this fiscal year. Nvidia has also surpassed our consensus estimate by an average of 35% in each of the trailing four quarters, so it would hardly be a surprise if the company outperformed again, surpassing this expected growth rate in the process. Furthermore, Nvidia is absolutely raking in the cash right now. In fact, the company’s current cash flow growth is significantly better than the 18.34% average cash flow growth it has recorded over the past three to five years. This implies that Nvidia’s financial position is improving, which should benefit the company long-term as it attempts to transition from exciting growth prospect to established industry leader. Story continues Also, we should note that our current consensus estimates are calling for Nvidia to post GPU sales of $7.45 billion this fiscal year. Last year, the company recorded sales of $5.82 billion in this all-important segment, so this result would represent strong year-over-year growth. Nvidia owes a lot of this growth to the continued strength of the gaming market, as its top-of-the-line graphics processors are a favorite among hardcore PC gamers. But on top of this, Nvidia and other GPU makers like AMD AMD have benefitted from increased demand from cryptocurrency miners. As the prices of popular digital currencies like Bitcoin and Ethereum have soared, more and more users are building personal super-computers to “mine” them. This has resulted in an entirely new market for Nvidia, whose high-end GPUs provide the power that these miners need. Overall, this new market speaks to the greatest strength for Nvidia right now: potential. Even with its remarkable growth to this point, Nvidia stands to benefit even more from the advent of artificial intelligence and self-driving cars—two emerging markets that it is already a dominant leader in. Of course, we also need to point out that Nvidia is currently a Zacks Rank #1 (Strong Buy). Earnings Estimate Revisions Remember, the Zacks Rank is heavily influenced by earnings estimate revisions, so let’s check out a quick snapshot of the revision activity we have seen for Nvidia recently: As is pretty obvious from the above snapshot, Nvidia’s estimate revision activity has been incredibly strong recently. We’ve seen significant improvements and unanimous analyst agreement for each of the company’s upcoming fiscal periods, including next year. Here at Zacks, we believe these positive revisions are one of the best available indicators of future share price performance. These analysts spend hours poring over all of the latest financial information, so if they feel like the company’s outlook is improving, it’s typically a good sign. Want more stock market analysis from this author? Make sure to follow @Ryan_McQueeney on Twitter! 4 Surprising Tech Stocks to Keep an Eye On Tech stocks have been a major force behind the market’s record highs, but picking the best ones to buy can be tough. There’s a simple way to invest in the success of the entire sector. Zacks has just released a Special Report revealing one thing tech companies literally cannot function without . More importantly, it reveals 4 top stocks set to skyrocket on increasing demand for these devices. I encourage you to get the report now – before the next wave of innovations really take off. S ee Stocks Now>> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Advanced Micro Devices, Inc. (AMD) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research View comments || U.S. Dollar Steadies Ahead of ECB Announcement, Draghi Comments: The U.S. dollar steadied against a basket of currencies on Wednesday on below average volume as investors prepared for the European Central Banks interest rate decision and monetary policy announcement. Traders will be especially interested in what ECB President Mario Draghi has to say at his post-meeting press conference. September U.S. Dollar Index futures settled the session at 92.252, up 0.026 or 0.03%. Daily September U.S. Dollar Index The Euro hit its highest level against the dollar since 2015 last week as investors bet on a trimming of the ECBs stimulus program while pushing back their expectations for further rate hikes from the U.S. Federal Reserve. Investors will be particularly interested in the comments from ECB President Mario Draghi and whether he comments about the exchange rate and if it poses a threat to any policy tightening plans. The dollar was pressured earlier this week against the Japanese Yen on worries over North Koreas nuclear weapons testing and by Hurricane Irma, which has grown to be the most powerful hurricane ever produced, and seems destined to strike Florida over the week-end. A top North Korean diplomat warned earlier in the week that his country was ready to send more gift packages to the United States. In the meantime, investors arent sure how to play the situation because of the lack of direction from the United States government and other major countries. Other currencies like the Australian and New Zealand Dollars picked up strength because of increased appetite for risk. The Canadian Dollar rose sharply against the U.S. Dollar after the Bank of Canada raised its benchmark interest rate by a quarter of a point to one percent on Wednesday. It was the second time this year that the BOC had upped the rate, after hiking it for the first time in seven years in July. Daily December Comex Gold Gold Gold prices eased a little from its one-year high on Wednesday as concerns over a potential U.S. government shutdown eased and the dollar recovered late in the session against the Japanese Yen. Story continues President Trump said on Wednesday he had agreed to a three-month increase in the U.S. debt ceiling with congressional leaders. If passed by the Republican-led Congress, it would avert an unprecedented default on U.S. government debt, keep the government funded for the first three months of the fiscal year beginning October 1 and provide aid to victims of Hurricane Harvey. U.S. Treasury yields rose on the news and gold fell as safe-haven demand among investors worried about a short-term default subsided. Daily October West Texas Intermediate Crude Oil Crude Oil U.S. West Texas Intermediate crude oil and international-benchmark Brent crude oil continued to attract buyers on Wednesday, supported by rising demand from the United States where Texas Gulf Coast refineries are restarting in the wake of Hurricane Harvey. U.S. Gulf Coast facilities were slowly recovering from the impact of Hurricane Harvey on key infrastructure in the heart of the U.S. oil and natural gas industry. As of Wednesday, about 3.8 million barrels of daily refining capacity, or about 20 percent, was shut in. U.S. crude prices could continue to be supported as U.S. refineries increase their oil demand as they recover from recent flooding. Gains could be limited by increased output from OPEC. Its crude exports in August were 25.19 million barrels per day, their lowest since April, according to Thomson Reuters Oil Research. However, average levels for January-August of 25.05 million bpd were above the average 24.85 million bpd in 2016, despite OPECs pledge to hold back supplies between January this year and March 2018. Overall, global oil supplies remain plentiful despite a dip in OPECs August exports. This article was originally posted on FX Empire More From FXEMPIRE: The Jury is Out on Bitcoin U.S. Dollar Steadies Ahead of ECB Announcement, Draghi Comments Daily Economic Calendar, September 7, 2017 Market Snapshot Hurricane Irma Causing Jitters Approaching Storm in U.S. Markets Emerging, US Futures Flat After Yesterdays Sell-Off Bitcoin Recovering Rapidly Despite a Violent $1,000 Pullback || U.S. Dollar Steadies Ahead of ECB Announcement, Draghi Comments: The U.S. dollar steadied against a basket of currencies on Wednesday on below average volume as investors prepared for the European Central Bank’s interest rate decision and monetary policy announcement. Traders will be especially interested in what ECB President Mario Draghi has to say at his post-meeting press conference.
September U.S. Dollar Index futures settled the session at 92.252, up 0.026 or 0.03%.
The Euro hit its highest level against the dollar since 2015 last week as investors bet on a trimming of the ECB’s stimulus program while pushing back their expectations for further rate hikes from the U.S. Federal Reserve.
Investors will be particularly interested in the comments from ECB President Mario Draghi and whether he comments about the exchange rate and if it poses a threat to any policy tightening plans.
The dollar was pressured earlier this week against the Japanese Yen on worries over North Korea’s nuclear weapons testing and by Hurricane Irma, which has grown to be the most powerful hurricane ever produced, and seems destined to strike Florida over the week-end.
A top North Korean diplomat warned earlier in the week that his country was ready to send “more gift packages” to the United States. In the meantime, investors aren’t sure how to play the situation because of the lack of direction from the United States government and other major countries.
Other currencies like the Australian and New Zealand Dollars picked up strength because of increased appetite for risk. The Canadian Dollar rose sharply against the U.S. Dollar after the Bank of Canada raised its benchmark interest rate by a quarter of a point to one percent on Wednesday. It was the second time this year that the BOC had upped the rate, after hiking it for the first time in seven years in July.
Gold prices eased a little from its one-year high on Wednesday as concerns over a potential U.S. government shutdown eased and the dollar recovered late in the session against the Japanese Yen.
President Trump said on Wednesday he had agreed to a three-month increase in the U.S. debt ceiling with congressional leaders. If passed by the Republican-led Congress, it would avert an unprecedented default on U.S. government debt, keep the government funded for the first three months of the fiscal year beginning October 1 and provide aid to victims of Hurricane Harvey.
U.S. Treasury yields rose on the news and gold fell as safe-haven demand among investors worried about a short-term default subsided.
U.S. West Texas Intermediate crude oil and international-benchmark Brent crude oil continued to attract buyers on Wednesday, supported by rising demand from the United States where Texas Gulf Coast refineries are restarting in the wake of Hurricane Harvey.
U.S. Gulf Coast facilities were slowly recovering from the impact of Hurricane Harvey on key infrastructure in the heart of the U.S. oil and natural gas industry. As of Wednesday, about 3.8 million barrels of daily refining capacity, or about 20 percent, was shut in. U.S. crude prices could continue to be supported as U.S. refineries increase their oil demand as they recover from recent flooding.
Gains could be limited by increased output from OPEC. Its crude exports in August were 25.19 million barrels per day, their lowest since April, according to Thomson Reuters Oil Research. However, average levels for January-August of 25.05 million bpd were above the average 24.85 million bpd in 2016, despite OPEC’s pledge to hold back supplies between January this year and March 2018.
Overall, global oil supplies remain plentiful despite a dip in OPEC’s August exports.
Thisarticlewas originally posted on FX Empire
• The Jury is Out on Bitcoin
• U.S. Dollar Steadies Ahead of ECB Announcement, Draghi Comments
• Daily Economic Calendar, September 7, 2017
• Market Snapshot – Hurricane Irma Causing Jitters
• Approaching Storm in U.S. Markets Emerging, US Futures Flat After Yesterday’s Sell-Off
• Bitcoin Recovering Rapidly Despite a Violent $1,000 Pullback || Flow and CaribbeanTales Present World Premiere of Caribbean Television Pilots at CaribbeanTales International Film Festival 2017: MIAMI, FL--(Marketwired - Sep 6, 2017) - Three new, original Caribbean TV pilots will have their world premiere screenings at the 12th CaribbeanTales International Film Festival (CTFF) 1 in Toronto, Canada, this September. BattleDream Chronicles 2 , HEAT 3 , and CaribbeanGrlNYC 4 are the result of an ongoing partnership between the CaribbeanTales Media Group , the world's largest distributor of Caribbean audio-visual content, and Flow , the Caribbean's leading telecoms and media content provider. Produced by CaribbeanTales for Flow, the three pilots will air exclusively on the Company's flagship entertainment network, Flow 1, later this year across the Caribbean. The pilots focus on Caribbean themed content: BattleDream Chronicles is the Region's first Afro-futurist Animation series created by director, producer and writer Alain Bidard; HEAT 3 is a steamy Bajan drama written and directed by internationally acclaimed Barbadian/British director and writer Menelik Shabazz; while CaribbeanGrlNYC 4 by Guadeloupean creator and director Mariette Monpierre , -- best known for her award-winning 2011 film, Elza -- is a female-driven sitcom set in the Big Apple . All three directors are alumni of the renowned CaribbeanTales Incubator Program (CTI) , which is now in its eighth year. From its inception, the CTI has been a training and development platform and launch pad for over eighty Caribbean-themed projects and producers. And since last year, the CTI has partnered with Flow to produce three (3) original series Pilots a year and develop homegrown content for Caribbean audiences. "We are rewriting the script on support for local and regional content," said John Reid, CEO of Cable & Wireless , operator of Flow and lead sponsor of the CTFF and CTI. "The Caribbean has always had talented filmmakers; what it has lacked is a support system that enables skills development, assistance in production and distribution, and ultimately the opportunity to monetize content. Through our partnership with CaribbeanTales, we are changing this, helping to transform the Caribbean film industry and showcase its talent to the world," he said. Story continues "C&W Communications has a vested interest in contributing to the development of the region's audio-visual industry as not only are we deeply rooted in the Caribbean, we are committed to ensuring our customers have access to market-leading content. We are proud of what has been achieved so far and excited to bring all this talent to the global stage and to the Caribbean," Reid added. BattleDream Chronicles will be the first pilot to make its world debut on September 6, 2017 at the Gala Opening of CTFF2017. The pilot features legendary St. Lucian actor, Joseph Marcell, best known for his role as Geoffrey the Butler in "The Fresh Prince of Bel Air"; Barbadian Queen of Soca, artiste Alison Hinds; Sheldon Sheperd, star of the award-winning 2010 Jamaican drama, Better Mus' Come; Leonie Forbes, Jamaica's multi-award-winning actress and icon; Nickolai Salcedo, prominent Trinidadian actor and musician; and Guyana's up-and-coming star, Nuriyyih Gerrard, in the show's leading role. HEAT will be screened on September 13 at the CTFF 2017 special Menelik Shabazz Tribute , sponsored by the Consulate General of Barbados, Toronto. The evening's special guests will include Menelik Shabazz, and TIFF's Artistic Director, Cameron Bailey. And, on September 20, 2017 at CTFF2017's CINEFAM: Women Creators of Colour Night , the spotlight will shine on women of colour directors, creators and actresses with the screening of CaribbeanGrlNYC. EDITOR'S NOTE : 1 The CTFF runs from September 6 - September 21, 2017 under the theme " Bringing the Caribbean to the World ." 2 BattleDream Chronicles -- created by director, producer, writer Alain Bidard -- is the Caribbean's first animated TV series. It is set in an Afro-futuristic world where video games have become slave plantations. Syanna and her friends must learn to hack the system if they are to reclaim their freedom. BattleDream boasts an international and pan-Caribbean star-studded cast including St. Lucian-born actor Joseph Marcell , best known for his role as Geoffrey in the Fresh Prince of Bel Air; Alison Hinds , Barbados' Queen of Soca; Sheldon Sheperd , star of the award-winning 2010 Jamaican drama Better Mus' Come; Leonie Forbes , Jamaica's multi-award-winning actress and icon; Nickolai Salcedo , prominent Trinidadian actor and musician; and, in the show's leading role, Guyana's rising star Nuriyyih Gerrard . 3 HEAT is a Barbadian crime drama written and directed by internationally acclaimed Barbadian / British director and writer Menelik Shabazz (Burning An Illusion, Lover's Rock) . The steamy story of race and passion kicks off when a wealthy white businessman murders his wife's Black lover. In the ensuing cover-up, the dead man's wife discovers evidence that threatens to destroy this empire of lies. The sweltering series features Soca Queen Alison Hinds ; DJ, radio personality and actor Kirk Brow ; and other well-known Barbadian stage actors who are making their first big splash on the international screen, including Patrick Foster , Varia Williams and Andrew Pilgrim . 4 CaribbeanGrlNYC is a half-hour comedy about four women from different Caribbean islands trying to make it in New York. Creator and director Mariette Monpierre from Guadeloupe is best known for her award-winning 2011 film Elza , which won the prestigious NYT award. This show stars multi-award-winning New York based actress Jacinth Sutphin , best known for her leading role in internationally acclaimed drama Diary of a Badman, alongside Ya Ya Williams , Natalia Elizabeth and Katia Angers . About CaribbeanTales Media Group CaribbeanTales is a group of companies that produces, markets, and sells Caribbean-themed film and television content for global audiences. The Group includes CaribbeanTales Inc., a registered Charity based in Toronto, Canada; CaribbeanTales International Film Festival that produces events around the world; CaribbeanTales Incubator, a year-round development and production hub; CaribbeanTales Worldwide Distribution, the largest full-service distribution entity dedicated to the monetisation of Caribbean content; CaribbeanTalesFlix, our production arm, and CaribbeanTales-TV, a video-on-demand platform. About C&W Communications C&W is a full service communications and entertainment provider and delivers market-leading video, broadband, telephony and mobile services to consumers in 18 countries. Through its business division, C&W provides data center hosting, domestic and international managed network services, and customized IT service solutions, utilizing cloud technology to serve business and government customers. C&W also operates a state-of-the-art submarine fiber network -- the most extensive in the region. Learn more at www.cwc.com , or follow C&W on LinkedIn , Facebook or Twitter . About Liberty Global Liberty Global is the world's largest international TV and broadband company, with operations in more than 30 countries across Europe, Latin America and the Caribbean. Liberty Global invests in the infrastructure that empowers its customers to make the most of the digital revolution. Liberty Global's scale and commitment to innovation enables it to develop market-leading products delivered through next-generation networks that connect its 25 million customers who subscribe to 51 million television, broadband internet and telephony services. Liberty Global also serves over 10 million mobile subscribers and offers WiFi service across seven million access points. Liberty Global's businesses are comprised of two stocks: the Liberty Global Group ( NASDAQ : LBTYA ) ( NASDAQ : LBTYB ) ( NASDAQ : LBTYK ) for its European operations, and the LiLAC Group ( NASDAQ : LILA ) and ( NASDAQ : LILAK ) ( OTC PINK : LILAB ), which consists of its operations in Latin America and the Caribbean. The Liberty Global Group operates in 12 European countries under the consumer brands Virgin Media, Ziggo, Unitymedia, Telenet and UPC. The LiLAC Group operates in over 20 countries in Latin America and the Caribbean under the consumer brands VTR, Flow, Liberty, Mas Movil and BTC. In addition, the LiLAC Group operates a subsea fiber network throughout the region in over 30 markets. For more information, please visit www.libertyglobal.com . || Flow and CaribbeanTales Present World Premiere of Caribbean Television Pilots at CaribbeanTales International Film Festival 2017: MIAMI, FL--(Marketwired - Sep 6, 2017) - Three new, original Caribbean TV pilots will have their world premiere screenings at the12th CaribbeanTales International Film Festival (CTFF)1in Toronto, Canada, this September.BattleDream Chronicles2,HEAT3, andCaribbeanGrlNYC4are the result of an ongoing partnership between theCaribbeanTales Media Group, the world's largest distributor of Caribbean audio-visual content, andFlow, the Caribbean's leading telecoms and media content provider.
Produced by CaribbeanTales for Flow, the three pilots will air exclusively on the Company's flagship entertainment network, Flow 1, later this year across the Caribbean. The pilots focus on Caribbean themed content:BattleDream Chroniclesis the Region's first Afro-futurist Animation series created by director, producer and writer Alain Bidard;HEAT3is a steamy Bajan drama written and directed by internationally acclaimed Barbadian/British director and writer Menelik Shabazz; whileCaribbeanGrlNYC4by Guadeloupean creator and directorMariette Monpierre, -- best known for her award-winning 2011 film,Elza-- is a female-driven sitcom set in the Big Apple.
All three directors are alumni of the renownedCaribbeanTales Incubator Program(CTI), which is now in its eighth year. From its inception, the CTI has been a training and development platform and launch pad for over eighty Caribbean-themed projects and producers. And since last year, the CTI has partnered with Flow to produce three (3) original series Pilots a year and develop homegrown content for Caribbean audiences.
"We are rewriting the script on support for local and regional content," said John Reid, CEO ofCable & Wireless, operator of Flow and lead sponsor of the CTFF and CTI. "The Caribbean has always had talented filmmakers; what it has lacked is a support system that enables skills development, assistance in production and distribution, and ultimately the opportunity to monetize content. Through our partnership with CaribbeanTales, we are changing this, helping to transform the Caribbean film industry and showcase its talent to the world," he said.
"C&W Communications has a vested interest in contributing to the development of the region's audio-visual industry as not only are we deeply rooted in the Caribbean, we are committed to ensuring our customers have access to market-leading content. We are proud of what has been achieved so far and excited to bring all this talent to the global stage and to the Caribbean," Reid added.
BattleDream Chronicleswill be the first pilot to make its world debut on September 6, 2017 at the Gala Opening of CTFF2017. The pilot features legendary St. Lucian actor, Joseph Marcell, best known for his role as Geoffrey the Butler in "The Fresh Prince of Bel Air"; Barbadian Queen of Soca, artiste Alison Hinds; Sheldon Sheperd, star of the award-winning 2010 Jamaican drama, Better Mus' Come; Leonie Forbes, Jamaica's multi-award-winning actress and icon; Nickolai Salcedo, prominent Trinidadian actor and musician; and Guyana's up-and-coming star, Nuriyyih Gerrard, in the show's leading role.
HEATwill be screened on September 13 at the CTFF 2017 specialMenelik Shabazz Tribute, sponsored by the Consulate General of Barbados, Toronto. The evening's special guests will include Menelik Shabazz, and TIFF's Artistic Director, Cameron Bailey.
And, on September 20, 2017 at CTFF2017'sCINEFAM: Women Creators of Colour Night, the spotlight will shine on women of colour directors, creators and actresses with the screening ofCaribbeanGrlNYC.
EDITOR'S NOTE:
1The CTFF runs from September 6 - September 21, 2017 under the theme "Bringing the Caribbean to the World."
2BattleDream Chronicles-- created by director, producer, writerAlain Bidard-- is the Caribbean's first animated TV series. It is set in an Afro-futuristic world where video games have become slave plantations. Syanna and her friends must learn to hack the system if they are to reclaim their freedom.BattleDreamboasts an international and pan-Caribbean star-studded cast including St. Lucian-born actorJosephMarcell, best known for his role as Geoffrey in the Fresh Prince of Bel Air;Alison Hinds,Barbados' Queen of Soca;Sheldon Sheperd,star of the award-winning 2010 Jamaican drama Better Mus' Come;Leonie Forbes, Jamaica's multi-award-winning actress and icon;NickolaiSalcedo, prominent Trinidadian actor and musician; and, in the show's leading role, Guyana's rising starNuriyyih Gerrard.
3HEATis a Barbadian crime drama written and directed by internationally acclaimed Barbadian / British director and writerMenelik Shabazz (Burning An Illusion, Lover's Rock). The steamy story of race and passion kicks off when a wealthy white businessman murders his wife's Black lover. In the ensuing cover-up, the dead man's wife discovers evidence that threatens to destroy this empire of lies. The sweltering series features Soca QueenAlison Hinds; DJ, radio personality and actorKirk Brow;and other well-known Barbadian stage actors who are making their first big splash on the international screen, includingPatrick Foster,Varia WilliamsandAndrewPilgrim.
4CaribbeanGrlNYCis a half-hour comedy about four women from different Caribbean islands trying to make it in New York. Creator and directorMariette Monpierrefrom Guadeloupe is best known for her award-winning 2011 filmElza, which won the prestigious NYT award. This show stars multi-award-winning New York based actressJacinth Sutphin, best known for her leading role in internationally acclaimed drama Diary of a Badman, alongsideYa Ya Williams,Natalia ElizabethandKatiaAngers.
About CaribbeanTales Media Group
CaribbeanTales is a group of companies that produces, markets, and sells Caribbean-themed film and television content for global audiences. The Group includes CaribbeanTales Inc., a registered Charity based in Toronto, Canada; CaribbeanTales International Film Festival that produces events around the world; CaribbeanTales Incubator, a year-round development and production hub; CaribbeanTales Worldwide Distribution, the largest full-service distribution entity dedicated to the monetisation of Caribbean content; CaribbeanTalesFlix, our production arm, and CaribbeanTales-TV, a video-on-demand platform.
About C&W Communications
C&W is a full service communications and entertainment provider and delivers market-leading video, broadband, telephony and mobile services to consumers in 18 countries. Through its business division, C&W provides data center hosting, domestic and international managed network services, and customized IT service solutions, utilizing cloud technology to serve business and government customers.
C&W also operates a state-of-the-art submarine fiber network -- the most extensive in the region.
Learn more atwww.cwc.com, or follow C&W onLinkedIn,FacebookorTwitter.
About Liberty GlobalLiberty Global is the world's largest international TV and broadband company, with operations in more than 30 countries across Europe, Latin America and the Caribbean. Liberty Global invests in the infrastructure that empowers its customers to make the most of the digital revolution. Liberty Global's scale and commitment to innovation enables it to develop market-leading products delivered through next-generation networks that connect its 25 million customers who subscribe to 51 million television, broadband internet and telephony services. Liberty Global also serves over 10 million mobile subscribers and offers WiFi service across seven million access points.
Liberty Global's businesses are comprised of two stocks: the Liberty Global Group (NASDAQ:LBTYA) (NASDAQ:LBTYB) (NASDAQ:LBTYK) for its European operations, and the LiLAC Group (NASDAQ:LILA) and (NASDAQ:LILAK) (OTC PINK:LILAB), which consists of its operations in Latin America and the Caribbean.
The Liberty Global Group operates in 12 European countries under the consumer brands Virgin Media, Ziggo, Unitymedia, Telenet and UPC. The LiLAC Group operates in over 20 countries in Latin America and the Caribbean under the consumer brands VTR, Flow, Liberty, Mas Movil and BTC. In addition, the LiLAC Group operates a subsea fiber network throughout the region in over 30 markets.
For more information, please visitwww.libertyglobal.com. || Pogue Facebook post email share content web address: Imagine this. You’re on Facebook. You find an item you think your mom might like. Or your friend, or your Twitter followers, or anybody else who isn’t on Facebook. Or who is on Facebook, but will never see the post you liked. There’s a sneaky way you can create a universal link to a Facebook item so that you can send or post to anyone! You’ll never guess how you get that link, though. You click the time stamp on the post. Now you’ve opened up a dedicated page just for that post, and its comments. From here, you can copy the web address and paste it wherever fine URLs are pasted. Let the world marvel at your expertise. Adapted from “ Pogue’s Basics: Tech ” (Flatiron Press), by David Pogue . More from David Pogue: Ossia thinks it’s licked the problems with through-the-air charging Samsung’s Bixby voice assistant is ambitious, powerful, and half-baked Is through-the-air charging a hoax? Pogue’s Basics: The secret Start menu in Windows 10 The pizza-making robots that want to change the world Electrify your existing bike in 2 minutes with these ingenious wheels Marty Cooper, inventor of the cellphone: The next step is implantables The David Pogue Review: Windows 10 Creators Update How a one-of-a-kind business has kept 5,000 kitchens out of landfills Google’s Nest Cam IQ recognizes burglars’ faces—for a steep price The 4 people Steve Jobs handpicked to review the iPhone reflect 10 years later Study: A smartwatch app can detect the heart condition hiding in millions of Americans Now I get it: Bitcoin David Pogue’s search for the world’s best air-travel app The little-known iPhone feature that lets blind people see with their fingers || Pogue's Basics: Link to a Facebook post: Imagine this. You’re on Facebook. You find an item you think your mom might like. Or your friend, or your Twitter followers, or anybody else who isn’tonFacebook. Or whoison Facebook, but will never see the post you liked. There’s a sneaky way you can create a universal link to a Facebook item so that you can send or post toanyone!
You’ll never guess how you get that link, though. You click thetime stampon the post. Now you’ve opened up a dedicated page just for that post, and its comments. From here, you can copy the web address and paste it wherever fine URLs are pasted.
Let the world marvel at your expertise.
Adapted from “Pogue’s Basics: Tech” (Flatiron Press), byDavid Pogue.
More from David Pogue:
Ossia thinks it’s licked the problems with through-the-air charging
Samsung’s Bixby voice assistant is ambitious, powerful, and half-bakedIs through-the-air charging a hoax?
Pogue’s Basics: The secret Start menu in Windows 10
The pizza-making robots that want to change the world
Electrify your existing bike in 2 minutes with these ingenious wheels
Marty Cooper, inventor of the cellphone: The next step is implantables
The David Pogue Review: Windows 10 Creators Update
How a one-of-a-kind business has kept 5,000 kitchens out of landfills
Google’s Nest Cam IQ recognizes burglars’ faces—for a steep price
The 4 people Steve Jobs handpicked to review the iPhone reflect 10 years later
Study: A smartwatch app can detect the heart condition hiding in millions of Americans
Now I get it: Bitcoin
David Pogue’s search for the world’s best air-travel app
The little-known iPhone feature that lets blind people see with their fingers || Here's Why Semiconductor ETFs Could Continue Their Rally: An article published on MarketWatch highlighted an analysts claims that chip inventories are at multi-year highs. This along with Qualcomms litigation case related to Korea Fair Trade Commission ruling weighed on the U.S. semiconductor sector on Sep 5. VanEck Vectors Semiconductor ETF SMH, PowerShares Dynamic Semiconductors ETF PSI and iShares PHLX Semiconductor ETF SOXX lost in the range of 1.2% to 1.4% on the day. However, investors should note that this is a short-term or almost negligible blip as several positive factors are in play. Investors can very well use this dip as a buying opportunity to the broader semiconductor sector, relying on the below-mentioned factors: Upbeat Sales The Semiconductor Industry Association (SIA) recently announced that global sales of semiconductors were $33.6 billion in Jul 2017, marking a year-over-year gain of 24% and a sequential rise of 3.1%. All the key geographies registered both year-over-year and month-over-month increases in July, and the Americas market were at the forefront with year-over-year growth of 36.1% and a sequential rise of 5.4% (read: Semiconductor ETFs to Roar Higher As Q2 Earnings Unfold). Usage of Semiconductor in Cryptocurrencies Bitcoin is on a tear this year. The digital currency has now more than quadrupled in value from around $997 at the start of the year. Bitcoins are mined by using a greater amount of computer processing power. Creation and transactions in bitcoin are controlled through cryptography to keep transactions secure (read: Bitcoin Skyrockets, Race to First Cryptocurrency ETF Heats Up). Like bitcoin, Ether or etherum is also popular this year. Now, mining of cryptocurrencies needs the usage of semiconductors. A hardware known as an ASIC (Application-Specific Integrated Circuit) has been designed exclusively for mining bitcoin. This where semiconductor companies can gain traction. As per Bloomberg, there was a 10-fold rise from April to June in the Ethereum market which helped shares of Nvidia Corp. NVDA and Advanced Micro Devices Inc. AMD substantially. Barclays recently added that Nvidia is better placed than its competitors to cash in on the cryptocurrency rally. Story continues DRAM/NAND Supply/Demand Dynamics DRAM and NAND prices have improved primarily due to higher-than-expected demand for PCs. It is a really promising area for the semiconductor market. In the early phase of the year, HP Inc hinted that there may be a shortage of DRAM and Flash memory chips. Notably, NAND flash memory chips are also used in smartphones and tablets. With rising adoption of smartphones, especially in emerging markets, demand for NAND chips are self-explanatory. Value-Centric Area In any case, semiconductor is the value-centric traditional tech area that is likely to have an upper hand in an edgy investing environment. Moreover, the semiconductor space is consolidating rapidly with a number of deals announced lately. Favorable Zacks Ranks The Zacks Sector Rank is in the top 44%. While semiconductor stock Applied Materials Inc. s AMAT Zacks Industry Rank is in the top 2%, Micron Technology Inc. s MU Zacks Industry Rank is in the top 1% and NVIDIA Corp.s Zacks Industry Rank is in the top 1%. Moreover, PSI, SMH and SOXX have a Zacks Rank #1 (Strong Buy) (read: Should You Buy These Semiconductor ETFs & Stocks Now). Want key ETF info delivered straight to your inbox? Zacks free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week. Get it free >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Advanced Micro Devices, Inc. (AMD) : Free Stock Analysis Report ISHARS-PHLX SEM (SOXX): ETF Research Reports PWRSH-DYN SEMI (PSI): ETF Research Reports VANECK-SEMICON (SMH): ETF Research Reports NVIDIA Corporation (NVDA) : Free Stock Analysis Report Micron Technology, Inc. (MU) : Free Stock Analysis Report Applied Materials, Inc. (AMAT) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report || Here's Why Semiconductor ETFs Could Continue Their Rally: An article published on MarketWatch highlighted an analysts claims that chip inventories are at multi-year highs. This along with Qualcomms litigation case related to Korea Fair Trade Commission ruling weighed on the U.S. semiconductor sector on Sep 5. VanEck Vectors Semiconductor ETF SMH, PowerShares Dynamic Semiconductors ETF PSI and iShares PHLX Semiconductor ETF SOXX lost in the range of 1.2% to 1.4% on the day. However, investors should note that this is a short-term or almost negligible blip as several positive factors are in play. Investors can very well use this dip as a buying opportunity to the broader semiconductor sector, relying on the below-mentioned factors: Upbeat Sales The Semiconductor Industry Association (SIA) recently announced that global sales of semiconductors were $33.6 billion in Jul 2017, marking a year-over-year gain of 24% and a sequential rise of 3.1%. All the key geographies registered both year-over-year and month-over-month increases in July, and the Americas market were at the forefront with year-over-year growth of 36.1% and a sequential rise of 5.4% (read: Semiconductor ETFs to Roar Higher As Q2 Earnings Unfold). Usage of Semiconductor in Cryptocurrencies Bitcoin is on a tear this year. The digital currency has now more than quadrupled in value from around $997 at the start of the year. Bitcoins are mined by using a greater amount of computer processing power. Creation and transactions in bitcoin are controlled through cryptography to keep transactions secure (read: Bitcoin Skyrockets, Race to First Cryptocurrency ETF Heats Up). Like bitcoin, Ether or etherum is also popular this year. Now, mining of cryptocurrencies needs the usage of semiconductors. A hardware known as an ASIC (Application-Specific Integrated Circuit) has been designed exclusively for mining bitcoin. This where semiconductor companies can gain traction. As per Bloomberg, there was a 10-fold rise from April to June in the Ethereum market which helped shares of Nvidia Corp. NVDA and Advanced Micro Devices Inc. AMD substantially. Barclays recently added that Nvidia is better placed than its competitors to cash in on the cryptocurrency rally. Story continues DRAM/NAND Supply/Demand Dynamics DRAM and NAND prices have improved primarily due to higher-than-expected demand for PCs. It is a really promising area for the semiconductor market. In the early phase of the year, HP Inc hinted that there may be a shortage of DRAM and Flash memory chips. Notably, NAND flash memory chips are also used in smartphones and tablets. With rising adoption of smartphones, especially in emerging markets, demand for NAND chips are self-explanatory. Value-Centric Area In any case, semiconductor is the value-centric traditional tech area that is likely to have an upper hand in an edgy investing environment. Moreover, the semiconductor space is consolidating rapidly with a number of deals announced lately. Favorable Zacks Ranks The Zacks Sector Rank is in the top 44%. While semiconductor stock Applied Materials Inc. s AMAT Zacks Industry Rank is in the top 2%, Micron Technology Inc. s MU Zacks Industry Rank is in the top 1% and NVIDIA Corp.s Zacks Industry Rank is in the top 1%. Moreover, PSI, SMH and SOXX have a Zacks Rank #1 (Strong Buy) (read: Should You Buy These Semiconductor ETFs & Stocks Now). Want key ETF info delivered straight to your inbox? Zacks free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week. Get it free >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Advanced Micro Devices, Inc. (AMD) : Free Stock Analysis Report ISHARS-PHLX SEM (SOXX): ETF Research Reports PWRSH-DYN SEMI (PSI): ETF Research Reports VANECK-SEMICON (SMH): ETF Research Reports NVIDIA Corporation (NVDA) : Free Stock Analysis Report Micron Technology, Inc. (MU) : Free Stock Analysis Report Applied Materials, Inc. (AMAT) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report || Dollar remains broadly lower after ISM data disappoints: Dollar still on the downside after weak U.S. data Investing.com - The dollar remained broadly lower against the other major currencies on Wednesday, after the release of disappointing U.S. data and as uncertainty over the future path of U.S. interest rates weighed. The Institute of Supply Management reported on Wednesday that U.S. service sector activity increased slightly less than expected in Augus t. The greenback was already under pressure since Federal Reserve official Lael Brainard said on Tuesday that the central bank should delay raising interest rates until it is confident inflation that is now "well short" of target will rebound. The yen and Swiss franc turned lower, with USD/JPY up 0.23% at 109.06 and with USD/CHF adding 0.15% to trade at 0.9568. Safe-haven demand had strengthened earlier, after a North Korean diplomat on Tuesday warned that his country was ready to send "more gift packages" to the U.S. The threat came after the rogue regime conducted its sixth and largest ever nuclear test on Sunday, prompting U.S. Defense Secretary James Mattis to say that any threat to the U.S. or its allies would be met with a “massive military response”. EUR/USD was up 0.09% at 1.1924, while GBP/USD added 0.12% to 1.3048, just off a four-week high of 1.3066 hit earlier in the day. The Australian and New Zealand dollars remained lower, with AUD/USD down 0.11% at 0.7987 and with NZD/USD sliding 0.28% to 0.7213. Earlier Wednesday, the Australian Bureau of Statistics reported on Wednesday that the country's gross domestic product expanded by 0.8% in the second quarter, below expectations for an expansion of 0.9%. Year-on-year, the Australian economy grew 1.8% in the last quarter, disappointing expectations for an expansion of 1.9%. Meanwhile, USD/CAD tumbled 1.44% to a 27-month low of 1.2198 after the Bank of Canada raised interest rates to 1.0% from 0.75%, saying that growth in the country’s economy is becoming more broad-based and self-sustaining . At the same time, Statistics Canada reported that the trade deficit narrowed to C$3.04 billion in July from a revised C$3.76 billion in June. Analysts had expected the trade deficit to hit C$3.10 billion in July. Story continues The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.15% at 92.14 by 05:20 a.m. ET (09:20 GMT). Related Articles Forex - Dollar remains broadly lower after ISM data disappoints Forex - USD/CAD tumbles to 27-month lows after BoC move Bitcoin higher for second day, recovering from Monday selloff || Dollar remains broadly lower after ISM data disappoints: Investing.com - The dollar remained broadly lower against the other major currencies on Wednesday, after the release of disappointing U.S. data and as uncertainty over the future path of U.S. interest rates weighed.
The Institute of Supply Management reported on Wednesday that U.S. service sector activityincreased slightly less than expected in August.
The greenback was already under pressure since Federal Reserve official Lael Brainard said on Tuesday thatthe central bank should delay raising interest ratesuntil it is confident inflation that is now "well short" of target will rebound.
The yen and Swiss franc turned lower, with USD/JPY up 0.23% at 109.06 and with USD/CHF adding 0.15% to trade at 0.9568.
Safe-haven demand had strengthened earlier, after a North Korean diplomat on Tuesday warned that his country was ready to send "more gift packages" to the U.S.
The threat came after the rogue regime conducted its sixth and largest ever nuclear test on Sunday, prompting U.S. Defense Secretary James Mattis to say that any threat to the U.S. or its allies would be met with a “massive military response”.
EUR/USD was up 0.09% at 1.1924, while GBP/USD added 0.12% to 1.3048, just off a four-week high of 1.3066 hit earlier in the day.
The Australian and New Zealand dollars remained lower, with AUD/USD down 0.11% at 0.7987 and with NZD/USD sliding 0.28% to 0.7213.
Earlier Wednesday, the Australian Bureau of Statistics reported on Wednesday that the country's gross domestic product expanded by0.8%in the second quarter, below expectations for an expansion of 0.9%.
Year-on-year, the Australian economy grew1.8%in the last quarter, disappointing expectations for an expansion of 1.9%.
Meanwhile, USD/CAD tumbled 1.44% to a 27-month low of 1.2198 after the Bank of Canada raised interest rates to1.0%from 0.75%, saying that growth in the country’s economy isbecoming more broad-based and self-sustaining.
At the same time, Statistics Canada reported that the trade deficit narrowed toC$3.04 billionin July from a revised C$3.76 billion in June. Analysts had expected the trade deficit to hit C$3.10 billion in July.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.15% at 92.14 by 05:20 a.m. ET (09:20 GMT).
Related Articles
Forex - Dollar remains broadly lower after ISM data disappoints
Forex - USD/CAD tumbles to 27-month lows after BoC move
Bitcoin higher for second day, recovering from Monday selloff || Here's what the charts are saying about Snap: FILE PHOTO - A Snapchat sign hangs on the facade of the New York Stock Exchange (NYSE) in New York City, U.S. on January 23, 2017. REUTERS/Brendan McDermid/File Photo (A Snapchat sign on the facade of the NYSE in New York CityThomson Reuters) Snap has been a disappointment since its initial public offering. The IPO priced at $17 and shares opened for trading at $24. They rose to just above $27 two days later. That was the high point. Since then, shares have plunged to $14, amid a slew of downgrades. Even Morgan Stanley, the lead underwriter for Snap's IPO, admitted it was wrong about where shares were headed. In an August 23 note, Morgan Stanley dropped its price target to $14, saying, " We believe Snap's core ad product is still lacking the performance (low click-through rates), measurability, and advertising return on investment to inflect ad dollar growth." The firm had an initial price target of $28 . Aside from the downgrades, Snap was also facing the expiration of its lockup . From July 29 through August 29, a total of more than 1.2 billion shares owned by employees, directors, and insiders became available to be sold on the open market. In the middle of that period, Snap shares bottomed at $11.28 and have been in a steady climb ever since. So where does Snap go from here? Technical analysis of the chart shows what looks like a double bottom pattern, and that could actually be good news. As you can see, in the chart below, a double bottom indicates the level at which traders are confident about buying shares. Twice since the beginning of August Snap has fallen to about $12 a share only to bounce back. Shares bottomed out over the first half of August and broke out through the neckline near $14 (marked in red dashes below). They climbed above the $15 mark before pulling back to test that neckline. That test held, setting the way for a presumed move higher. A rough measurement from the August lows to the neckline is $2, suggesting Snap shares could climb to about $16 ($14 + $2 measuring objective). Snap technical analysis (Business Insider/Andy Kiersz/Jonathan Garber, Data from Bloomberg) NOW WATCH: Bitcoin's bubble swells with a new record high More From Business Insider Here are all the areas in Hurricane Irma's path and when the storm could arrive How Kim Jong Un treated his high-school girlfriend is the key to understanding his 'wild' temper, according to this North Korea expert THE PAYMENTS INDUSTRY EXPLAINED: The Trends Creating New Winners And Losers In The Card-Processing Ecosystem || Here's what the charts are saying about Snap: (A Snapchat sign on the facade of the NYSE in New York CityThomson Reuters)
Snap has been a disappointment since its initial public offering.The IPO priced at $17 and shares opened for trading at $24. They rose to just above $27 two days later. That was the high point.Since then, shares have plunged to $14, amid a slew of downgrades. Even Morgan Stanley, the lead underwriter for Snap's IPO,admitted it was wrongabout where shares were headed.
In an August 23 note,Morgan Stanley dropped its price targetto $14, saying, "We believe Snap's core ad product is still lacking the performance (low click-through rates), measurability, and advertising return on investment to inflect ad dollar growth." The firm had aninitial price target of $28.
Aside from the downgrades,Snap was also facing the expiration of its lockup. From July 29 through August 29, a total of more than 1.2 billion shares owned by employees, directors, and insiders became available to be sold on the open market. In the middle of that period, Snap shares bottomed at $11.28 and have been in a steady climb ever since.
So where does Snap go from here? Technical analysis of the chart shows what looks like a double bottom pattern, and that could actually be good news.As you can see, in the chart below, a double bottom indicates the level at which traders are confident about buying shares. Twice since the beginning of August Snap has fallen to about $12 a share only to bounce back.Shares bottomed out over the first half of August and broke out through the neckline near $14 (marked in red dashes below). They climbed above the $15 mark before pulling back to test that neckline.That test held, setting the way for a presumed move higher. A rough measurement from the August lows to the neckline is $2, suggesting Snap shares could climb to about $16 ($14 + $2 measuring objective).
(Business Insider/Andy Kiersz/Jonathan Garber, Data from Bloomberg)
NOW WATCH:Bitcoin's bubble swells with a new record high
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• How Kim Jong Un treated his high-school girlfriend is the key to understanding his 'wild' temper, according to this North Korea expert
• THE PAYMENTS INDUSTRY EXPLAINED: The Trends Creating New Winners And Losers In The Card-Processing Ecosystem || Bitcoin and ethereum price rises as cryptocurrencies make a recovery: Bitcoin and ethereum prices rise - Bloomberg Bitcoins price is on the rise again having dropped 20pc in less than three days following China's decision to clamp down on the volatile cryptocurrency. The value of ethereum and other leading cryptocurrencies like Bitcoin Cash, Ripple and Litecoin has also climbed, with their overvalue increasing by 17pc. Bitcoin value last 364 days Billions were wiped off their combined values after Chinas central bank said initial coin offerings (ICOs) are illegal and asked all related fundraising activity to be halted immediately. Issues of this type... and offences committed in past operations will be severely penalised," said the People's Bank of China. The price of bitcoin has jumped back up to $4,529, recovering from a low of $4,000 on Tuesday morning. Ethereums price has risen and is trading at $338 having falling by almost 30pc from its $400 peak on Saturday. Bitcoin investors had enjoyed a record-breaking price run with its value topping $5,000 for the first time on September 4 before the recent crypto crash. Despite the price of bitcoin reaching record-breaking heights, many cryptocurrency market watchers have warned it is a bubble that could easily burst. FAQ | Bitcoin Zennon Kapron, director of the Shanghai-based financial technology consultancy Kapronasia, told Reuters he suspected regulators were putting the brakes on ICOs in order to better understand the phenomenon, but could ease off in the future. "Regulators globally are struggling to understand what ICOs are, what the risks are, and how to ring-fence and regulate them," he said. "China, in many ways, is no different than the U.S. or Singapore in saying, ok, we need to push back on these for now until we figure out how to deal with them...I think it will be slightly a temporary measure."
[Social Media Buzz]
The news on not taxing transactions under $600.00 worth of BTC is an indication of Govt. sentiment. || Order your secure and smart Bitcoin hardware wallet - Only 69.60 EUR https://www.ledgerwallet.com/r/4518?path=/products/ledger-nano-s … #bitcoin #btc 00:17 pic.twitter.com/aFJ276LJAU || One Bitcoin now worth $4618.00@bitstamp. High $4674.34. Low $4475.00. Market Cap $76.423 Billion #bitcoin pic.twitter.com/HiYB5rMAUK || 1hr Report : 10:00:55 UTC Top 10 Mentions
$NEO, $BTC, $OMG, $ETH, $XVG, $LT...
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4228.75, 4226.06, 4122.94, 4161.27, 4130.81, 3882.59, 3154.95, 3637.52, 3625.04, 3582.88
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Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 7978.31, 7963.33, 7680.07, 7881.85, 7987.37, 8052.54, 8673.22, 8805.78, 8719.96, 8659.49, 8319.47, 8574.50, 8564.02, 8742.96, 8209.00, 7707.77, 7824.23, 7822.02, 8043.95, 7954.13, 7688.08, 8000.33, 7927.71, 8145.86, 8230.92, 8693.83, 8838.38, 8994.49, 9320.35, 9081.76, 9273.52, 9527.16, 10144.56, 10701.69, 10855.37, 11011.10, 11790.92, 13016.23, 11182.81, 12407.33, 11959.37, 10817.16, 10583.13, 10801.68, 11961.27, 11215.44, 10978.46, 11208.55, 11450.85, 12285.96, 12573.81, 12156.51, 11358.66, 11815.99, 11392.38, 10256.06, 10895.09, 9477.64, 9693.80, 10666.48, 10530.73, 10767.14, 10599.11, 10343.11, 9900.77, 9811.93, 9911.84, 9870.30, 9477.68, 9552.86, 9519.15, 9607.42, 10085.63, 10399.67, 10518.17, 10821.73, 10970.18, 11805.65, 11478.17, 11941.97, 11966.41, 11862.94, 11354.02, 11523.58, 11382.62, 10895.83, 10051.70, 10311.55, 10374.34, 10231.74.
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[Bitcoin Technical Analysis for 2019-08-17]
Volume: 13778035685, RSI (14-day): 43.75, 50-day EMA: 10504.42, 200-day EMA: 8159.05
[Wider Market Context]
None available.
[Recent News (last 7 days)]
Weekly Wrap – Bond Yields, the Trade War and the Stats Did the Talking: The Stats It was a busier week on the economic calendar in the week ending 16 th August. A total of 61 stats were monitored throughout the week, compared with 58 in the week prior. Of the 61 stats, 30 came in ahead forecasts, with 20 economic indicators coming up short of forecast. 11 stats were in line with forecasts in the week. Looking at the numbers, 21 of the stats reflected an upward trend from previous figures. Of the remaining 40, 32 stats reflected a deterioration from previous. While the economic data was skewed to the negative, the Dollar found support from better than expected data on the week. The gains came in spite of negative sentiment towards the U.S – China trade war. Central bank monetary policy, geopolitical risk and economic data were all in focus throughout the week. While economies and central banks were looking to ready for more easing, stats out of the U.S suggested that the FED may be able to hold off… The U.S Dollar Index (“DXY”) rose by 0.73% in the week to 98.203. Out of the U.S It was a busy week on the economic data front for the Greenback. July inflation figures kicked off the week on Tuesday. A pickup in the annual rate of core inflation to 2.2% raised doubts over whether the FED would cut rates in the coming months. Focus then shifted to a particularly busy Thursday. On the day, July retail sales, manufacturing PMI and industrial production figures were in focus. A jump in retail sales provided further Dollar support, adding further doubts on whether a rate cut is on the horizon. Manufacturing sector data failed to impress, but had a muted impact on the day. On the day, employment figures and industrial production numbers also disappointed. But, with retail sales on the rise, the Dollar was relatively resilient to the numbers. Closing out the week, consumer sentiment and housing sector figures were in focus on Friday. While housing sector numbers were mixed, consumer sentiment figures disappointed on the day. In spite of the softer numbers, there was little impact on the Dollar as its peers struggled at the end of the week. Story continues On the monetary policy front, expectations are for the FED to cut rates, however, to offset the effects of a global slowdown. The outlook comes in spite of decent economic data out of the U.S… While the stats and sentiment towards FED monetary policy provided direction, trade war chatter was also of influence in the week. In the equity markets, the U.S majors closed out the week in the red once more. The Dow led the way, falling by 1.53%, with a Friday 1.20% gain limiting the damage. The NASDAQ and S&P500 weren’t far behind, with losses of 0.79% and 1.03% respectively. Out of the UK It was another particularly busy week on the economic data front. Key stats included employment figures on Tuesday, July inflation figures on Wednesday and retail sales numbers on Thursday. Following the disappointment of 2 nd quarter GDP numbers in the week prior, the stats were Sterling positive. While the unemployment rate edged up from 3.8% to 3.9% in June, there was a 115k jump in employment in the 2 nd quarter. Claimant counts eased in July to 28k rise, following a 31.4k increase in June. Wage growth also impressed, picking up from 3.5% to 3.7% in June. Inflation figures on Wednesday added to the upside in the Pound. While consumer price stalled, month-on-month, the annual rate of inflation picked up from 2% to 2.1%. The producer input price index also saw upward pressure, rising by 0.9% in July. Rounding off the week were better than expected retail sales figures on Thursday. While easing back from June, there was a further upside, coming in ahead of forecast. On the monetary policy front, the numbers will give the BoE some breathing room. It’s worth noting, however, that retail sales were softer than in June and the economy contracted in the 2 nd quarter… The Pound ended the week up by 0.96% to $1.2149. For the FTSE100, it was another week in the red, with the index sliding by 1.88% off the back of a 2.07% fall from the previous week. Out of the Eurozone It was a particularly busy week on the economic data front. The week kicked off with a bang, as the EUR responded to August ZEW economic sentiment figures on Tuesday. Germany’s ZEW Economic Sentiment Index fell from -24.5 to -44.1. Things were not much better from the Eurozone. The Eurozone’s ZEW Economic Sentiment Index fell from -20.3 to -43.6. GDP numbers out of Germany on Wednesday also weighed. Germany’s economy contracted by 0.1% in the 2 nd quarter, which was in line with forecast. Year-on-year, the economy stalled, which was better than a forecast of 0.3% contraction. In spite of the weaker growth, the Eurozone’s GDP numbers were in line with 1 st estimates. Quarter-on-quarter, the economy grew by 0.2% and 1.1%, year-on-year. With the GDP numbers in focus, a 1.6% slide in industrial production across the Eurozone failed to force a sell-off. While there were no stats on Thursday, dovish chatter from the ECB led to a EUR slide to sub-$1.11 levels before finding support. ECB member Rhen talked of the need for the ECB to deliver a significant and hard-hitting stimulus package at the next policy meeting. To Wrap up the week, the Eurozone’s June trade data also influenced. A narrowing in the Eurozone’s trade surplus signaled yet another red flag. The EUR ended the week down by 0.99% to $1.1090 against the Dollar. While disappointing stats were nothing new, talk of significant stimulus on the monetary policy front was… For the European major indexes, it was another bearish week for the majors. The DAX30 fell by 1.12%, while the CAC40 fell by a more modest 0.51% on the week. Elsewhere It was another bearish week for the Aussie and Kiwi Dollars. The Aussie Dollar fell by 0.10% to $0.6779, with the Kiwi Dollar sliding by 0.60% to $0.6429. For the Aussie Dollar It was a relatively busy week on the data front. Stats included business and consumer confidence and 2 nd quarter wage growth figures early in the week. The numbers were skewed to the positive. Business confidence saw a marginal improvement in July, while consumer confidence rebounded in August. A combined pickup in consumer confidence and a marginal pickup in wage growth in the 2 nd quarter provided support. July employment figures on Thursday also provided the Aussie Dollar with support. While the unemployment rate held steady, employment jumped by 41.1k in July, following a 0.5k rise in June. From elsewhere, disappointing economic data out of China led to rising fears of a global recession. Trade war chatter also pinned the Aussie Dollar back in the week. For the Kiwi Dollar Economic data was limited to July electronic card retail sales and Business PMI figures. Both sets of numbers disappointed. Electronic card retail sales fell by 0.1% in July, after having stalled in June. The Business PMI also weighed, with the manufacturing sector contracting in July. The PMI fell from 51.3 to 48.2. In spite of the weak numbers, a material slide was avoided in the wake of the RBNZ’s surprise move last week. For the Loonie It was a particularly quiet week on the economic data front. June foreign securities purchases, out on Friday, was the only stat out of Canada. The figures failed to move the Loonie on the day. Outside of the stats, crude oil prices and negative sentiment towards the global economic outlook weighed. In the early part of the week, industrial production numbers out of China and GDP numbers out of Germany set the tone. The Loonie ended the week down by 0.36% to C$1.3269 against the Greenback. For the Japanese Yen Economic data was limited to June finalized industrial production figures on Thursday. While revised upwards to a 3.3% fall, the effects of the ongoing U.S – China trade war on demand was evident. The weak industrial production numbers out of China and Germany’s GDP numbers added to the market angst. In spite of the risk aversion, however, the Yen struggled as sentiment towards FED monetary policy flip-flopped throughout the week. For the week, the Japanese Yen slipped by 0.65% to ¥106.38. Out of China It was a relatively quiet week on the data front. July fixed asset investment and industrial production numbers provided direction on Wednesday. A weak year-on-year industrial production figure hit risk sentiment on the day, raising yet more red flags over the global economic outlook. While the numbers provided further evidence of a weakening in the Chinese economy, China’s reaction to Trump’s announced delay to next month’s tariffs tested the markets. China announced late in the week that a delay in tariffs was not enough to prevent retaliatory measures. News of China ramping up soybean imports from Brazil on Friday will be a test for the majors and the U.S President… This article was originally posted on FX Empire More From FXEMPIRE: USD/JPY Weekly Price Forecast – US dollar volatile and positive against Japanese yen AUD/USD Forex Technical Analysis – Establishing Support at .6749 Minor Pivot Bitcoin Cash – ABC, Litecoin and Ripple Daily Analysis – 17/08/19 S&P 500 Weekly Price Forecast – Stock markets find a bit of recovery Natural Gas Weekly Price Forecast – Natural gas markets formed bearish candle for the week Natural Gas Price Prediction – Prices Reverse Thursday’s Gains Falling Below Resistance || Weekly Wrap – Bond Yields, the Trade War and the Stats Did the Talking: It was a busier week on theeconomic calendarin the week ending 16thAugust.
A total of 61 stats were monitored throughout the week, compared with 58 in the week prior.
Of the 61 stats, 30 came in ahead forecasts, with 20 economic indicators coming up short of forecast. 11 stats were in line with forecasts in the week.
Looking at the numbers, 21 of the stats reflected an upward trend from previous figures. Of the remaining 40, 32 stats reflected a deterioration from previous.
While the economic data was skewed to the negative, the Dollar found support from better than expected data on the week. The gains came in spite of negative sentiment towards the U.S – China trade war.
Central bank monetary policy, geopolitical risk and economic data were all in focus throughout the week. While economies and central banks were looking to ready for more easing, stats out of the U.S suggested that the FED may be able to hold off…
The U.S Dollar Index (“DXY”) rose by 0.73% in the week to 98.203.
It was a busy week on the economic data front for the Greenback.
July inflation figures kicked off the week on Tuesday. A pickup in the annual rate of core inflation to 2.2% raised doubts over whether the FED would cut rates in the coming months.
Focus then shifted to a particularly busy Thursday. On the day, July retail sales, manufacturing PMI and industrial production figures were in focus.
A jump in retail sales provided further Dollar support, adding further doubts on whether a rate cut is on the horizon.
Manufacturing sector data failed to impress, but had a muted impact on the day.
On the day, employment figures and industrial production numbers also disappointed. But, with retail sales on the rise, the Dollar was relatively resilient to the numbers.
Closing out the week, consumer sentiment and housing sector figures were in focus on Friday. While housing sector numbers were mixed, consumer sentiment figures disappointed on the day. In spite of the softer numbers, there was little impact on the Dollar as its peers struggled at the end of the week.
On the monetary policy front, expectations are for the FED to cut rates, however, to offset the effects of a global slowdown. The outlook comes in spite of decent economic data out of the U.S…
While the stats and sentiment towards FED monetary policy provided direction, trade war chatter was also of influence in the week.
In the equity markets, the U.S majors closed out the week in the red once more. The Dow led the way, falling by 1.53%, with a Friday 1.20% gain limiting the damage. The NASDAQ and S&P500 weren’t far behind, with losses of 0.79% and 1.03% respectively.
It was another particularly busy week on the economic data front.
Key stats included employment figures on Tuesday, July inflation figures on Wednesday and retail sales numbers on Thursday.
Following the disappointment of 2ndquarter GDP numbers in the week prior, the stats were Sterling positive.
While the unemployment rate edged up from 3.8% to 3.9% in June, there was a 115k jump in employment in the 2ndquarter. Claimant counts eased in July to 28k rise, following a 31.4k increase in June.
Wage growth also impressed, picking up from 3.5% to 3.7% in June.
Inflation figures on Wednesday added to the upside in the Pound. While consumer price stalled, month-on-month, the annual rate of inflation picked up from 2% to 2.1%.
The producer input price index also saw upward pressure, rising by 0.9% in July.
Rounding off the week were better than expected retail sales figures on Thursday. While easing back from June, there was a further upside, coming in ahead of forecast.
On the monetary policy front, the numbers will give the BoE some breathing room. It’s worth noting, however, that retail sales were softer than in June and the economy contracted in the 2ndquarter…
The Pound ended the week up by 0.96% to $1.2149.
For the FTSE100, it was another week in the red, with the index sliding by 1.88% off the back of a 2.07% fall from the previous week.
It was a particularly busy week on the economic data front.
The week kicked off with a bang, as the EUR responded to August ZEW economic sentiment figures on Tuesday.
Germany’s ZEW Economic Sentiment Index fell from -24.5 to -44.1. Things were not much better from the Eurozone. The Eurozone’s ZEW Economic Sentiment Index fell from -20.3 to -43.6.
GDP numbers out of Germany on Wednesday also weighed. Germany’s economy contracted by 0.1% in the 2ndquarter, which was in line with forecast. Year-on-year, the economy stalled, which was better than a forecast of 0.3% contraction.
In spite of the weaker growth, the Eurozone’s GDP numbers were in line with 1stestimates. Quarter-on-quarter, the economy grew by 0.2% and 1.1%, year-on-year.
With the GDP numbers in focus, a 1.6% slide in industrial production across the Eurozone failed to force a sell-off.
While there were no stats on Thursday, dovish chatter from the ECB led to a EUR slide to sub-$1.11 levels before finding support.
ECB member Rhen talked of the need for the ECB to deliver a significant and hard-hitting stimulus package at the next policy meeting.
To Wrap up the week, the Eurozone’s June trade data also influenced. A narrowing in the Eurozone’s trade surplus signaled yet another red flag.
The EUR ended the week down by 0.99% to $1.1090 against the Dollar. While disappointing stats were nothing new, talk of significant stimulus on the monetary policy front was…
For the European major indexes, it was another bearish week for the majors. The DAX30 fell by 1.12%, while the CAC40 fell by a more modest 0.51% on the week.
It was another bearish week for the Aussie and Kiwi Dollars.
The Aussie Dollar fell by 0.10% to $0.6779, with the Kiwi Dollar sliding by 0.60% to $0.6429.
It was a relatively busy week on the data front. Stats included business and consumer confidence and 2ndquarter wage growth figures early in the week.
The numbers were skewed to the positive. Business confidence saw a marginal improvement in July, while consumer confidence rebounded in August.
A combined pickup in consumer confidence and a marginal pickup in wage growth in the 2ndquarter provided support.
July employment figures on Thursday also provided the Aussie Dollar with support. While the unemployment rate held steady, employment jumped by 41.1k in July, following a 0.5k rise in June.
From elsewhere, disappointing economic data out of China led to rising fears of a global recession. Trade war chatter also pinned the Aussie Dollar back in the week.
Economic data was limited to July electronic card retail sales and Business PMI figures.
Both sets of numbers disappointed. Electronic card retail sales fell by 0.1% in July, after having stalled in June.
The Business PMI also weighed, with the manufacturing sector contracting in July. The PMI fell from 51.3 to 48.2.
In spite of the weak numbers, a material slide was avoided in the wake of the RBNZ’s surprise move last week.
It was a particularly quiet week on the economic data front.
June foreign securities purchases, out on Friday, was the only stat out of Canada. The figures failed to move the Loonie on the day.
Outside of the stats, crude oil prices and negative sentiment towards the global economic outlook weighed.
In the early part of the week, industrial production numbers out of China and GDP numbers out of Germany set the tone.
The Loonie ended the week down by 0.36% to C$1.3269 against the Greenback.
Economic data was limited to June finalized industrial production figures on Thursday. While revised upwards to a 3.3% fall, the effects of the ongoing U.S – China trade war on demand was evident.
The weak industrial production numbers out of China and Germany’s GDP numbers added to the market angst.
In spite of the risk aversion, however, the Yen struggled as sentiment towards FED monetary policy flip-flopped throughout the week.
For the week, the Japanese Yen slipped by 0.65% to ¥106.38.
It was a relatively quiet week on the data front. July fixed asset investment and industrial production numbers provided direction on Wednesday.
A weak year-on-year industrial production figure hit risk sentiment on the day, raising yet more red flags over the global economic outlook.
While the numbers provided further evidence of a weakening in the Chinese economy, China’s reaction to Trump’s announced delay to next month’s tariffs tested the markets.
China announced late in the week that a delay in tariffs was not enough to prevent retaliatory measures. News of China ramping up soybean imports from Brazil on Friday will be a test for the majors and the U.S President…
Thisarticlewas originally posted on FX Empire
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• Natural Gas Price Prediction – Prices Reverse Thursday’s Gains Falling Below Resistance || These Bitcoin Users Want DAI and DeFi – Here’s How They Plan to Get It: Summa co-founder James Prestwich wants to bridge the great divide: bitcoin vs. ethereum.
Now his firm is teaming up with fellow blockchain startup Keep to launch theCross-Chain Working Group, which aims to create a protocol for using bitcoin on ethereum-based systems.
The group hosted its first meeting on Thursday with more than 40 participants, including curious representatives from interoperability protocol Cosmos and Ripple’s investment arm, Xpring.
Related:This ICO Startup Didn’t Die During Crypto Winter. It Has DAI to Thank
“The goal is to provide a platform for developers, other than those employed by a base chain, who work across chains,” Prestwich told CoinDesk.
He said nearly 10 other companies have applied to join this group making tools for developers to work across blockchains, although official membership is yet to be determined.
“It’s a wrapper but it’s a fully decentralized wrapper. I’d actually call it a new sidechain mechanism,” Matt Luongo, CEO of Keep’s parent company, Thesis, told CoinDesk. “It gives your a trustless peg, a supply peg, between the two chains.”
In short, the bitcoin is deposited with a smart contract that requires multiple signatures to unlock funds. Key holders lock up crypto collateral, like ether, which the depositor can seize if the holders misbehave. In the meantime, the depositor is essentially given a crypto equivalent of ethereum-compatible tokens that represent the bitcoin, called tBTC.
Related:Ethereum Coders Approve 6 Changes for Upcoming Istanbul Hard Fork
As such, the user can conduct ethereum transactions like taking a collateralized debt position with MakerDAO’s stablecoin DAI, yet eventually cash out the results as bitcoin. There is clearly demand fordollar-pegged DAI loans, which are generally liquidated for fiat then paid back to unlock the crypto collateral. According toDeFi Pulse, there is roughly $256 million worth of crypto locked in MakerDAO loans alone.
“Now bitcoiners can get loans and get access to DAI,” Luongo said. “All of us being able to get access to the equity of our bitcoin holdings would be pretty powerful.”
Thesis investor Charlie Noyes of Paradigm told CoinDesk tBTC represents “a meaningful improvement over previous efforts to make bitcoin more extensible,” without compromising on bitcoin’s security or decentralized ethos.
The working group’s goal is to launch an ethereum-based tester app with access to bitcoin this fall and a tBTCmainnet by Q4. Keep investor Olaf Carlson-Wee of Polychain Capital told CoinDesk he sees this protocol as “critical infrastructure” for the broader ecosystem.
“Different blockchains, instead of being siloed, will be able to communicate with one another and interact with one another,” Carlson-Wee said. “When you think longer term, is the start of a universe of interaction across blockchains … where tokens can freely move across blockchains. This is the first step toward that inevitable future.”
Speaking of the motivation behind forming this group to make tBTCl, rather than both startups doing it proprietarily, Luongo concluded:
“We want other folks to be able to come in, contribute, and help launch this with us.”
Summa founder James Prestwich at the first Cross-Chain Working Group meeting in San Francisco (photo via Keep)
• Bitcoin Defends Price Support, But Bear Case Still Intact
• Moscow to Develop a Blockchain System for Transparent City Services || These Bitcoin Users Want DAI and DeFi – Here’s How They Plan to Get It: Summa co-founder James Prestwich wants to bridge the great divide: bitcoin vs. ethereum.
Now his firm is teaming up with fellow blockchain startup Keep to launch theCross-Chain Working Group, which aims to create a protocol for using bitcoin on ethereum-based systems.
The group hosted its first meeting on Thursday with more than 40 participants, including curious representatives from interoperability protocol Cosmos and Ripple’s investment arm, Xpring.
Related:This ICO Startup Didn’t Die During Crypto Winter. It Has DAI to Thank
“The goal is to provide a platform for developers, other than those employed by a base chain, who work across chains,” Prestwich told CoinDesk.
He said nearly 10 other companies have applied to join this group making tools for developers to work across blockchains, although official membership is yet to be determined.
“It’s a wrapper but it’s a fully decentralized wrapper. I’d actually call it a new sidechain mechanism,” Matt Luongo, CEO of Keep’s parent company, Thesis, told CoinDesk. “It gives your a trustless peg, a supply peg, between the two chains.”
In short, the bitcoin is deposited with a smart contract that requires multiple signatures to unlock funds. Key holders lock up crypto collateral, like ether, which the depositor can seize if the holders misbehave. In the meantime, the depositor is essentially given a crypto equivalent of ethereum-compatible tokens that represent the bitcoin, called tBTC.
Related:Ethereum Coders Approve 6 Changes for Upcoming Istanbul Hard Fork
As such, the user can conduct ethereum transactions like taking a collateralized debt position with MakerDAO’s stablecoin DAI, yet eventually cash out the results as bitcoin. There is clearly demand fordollar-pegged DAI loans, which are generally liquidated for fiat then paid back to unlock the crypto collateral. According toDeFi Pulse, there is roughly $256 million worth of crypto locked in MakerDAO loans alone.
“Now bitcoiners can get loans and get access to DAI,” Luongo said. “All of us being able to get access to the equity of our bitcoin holdings would be pretty powerful.”
Thesis investor Charlie Noyes of Paradigm told CoinDesk tBTC represents “a meaningful improvement over previous efforts to make bitcoin more extensible,” without compromising on bitcoin’s security or decentralized ethos.
The working group’s goal is to launch an ethereum-based tester app with access to bitcoin this fall and a tBTCmainnet by Q4. Keep investor Olaf Carlson-Wee of Polychain Capital told CoinDesk he sees this protocol as “critical infrastructure” for the broader ecosystem.
“Different blockchains, instead of being siloed, will be able to communicate with one another and interact with one another,” Carlson-Wee said. “When you think longer term, is the start of a universe of interaction across blockchains … where tokens can freely move across blockchains. This is the first step toward that inevitable future.”
Speaking of the motivation behind forming this group to make tBTCl, rather than both startups doing it proprietarily, Luongo concluded:
“We want other folks to be able to come in, contribute, and help launch this with us.”
Summa founder James Prestwich at the first Cross-Chain Working Group meeting in San Francisco (photo via Keep)
• Bitcoin Defends Price Support, But Bear Case Still Intact
• Moscow to Develop a Blockchain System for Transparent City Services || These Bitcoin Users Want DAI and DeFi Heres How They Plan to Get It: Summa co-founder James Prestwich wants to bridge the great divide: bitcoin vs. ethereum. Now his firm is teaming up with fellow blockchain startup Keep to launch the Cross-Chain Working Group , which aims to create a protocol for using bitcoin on ethereum-based systems. The group hosted its first meeting on Thursday with more than 40 participants, including curious representatives from interoperability protocol Cosmos and Ripples investment arm, Xpring. Related: This ICO Startup Didnt Die During Crypto Winter. It Has DAI to Thank The goal is to provide a platform for developers, other than those employed by a base chain, who work across chains, Prestwich told CoinDesk. He said nearly 10 other companies have applied to join this group making tools for developers to work across blockchains, although official membership is yet to be determined. Its a wrapper but its a fully decentralized wrapper. Id actually call it a new sidechain mechanism, Matt Luongo, CEO of Keeps parent company, Thesis, told CoinDesk. It gives your a trustless peg, a supply peg, between the two chains. In short, the bitcoin is deposited with a smart contract that requires multiple signatures to unlock funds. Key holders lock up crypto collateral, like ether, which the depositor can seize if the holders misbehave. In the meantime, the depositor is essentially given a crypto equivalent of ethereum-compatible tokens that represent the bitcoin, called tBTC. Related: Ethereum Coders Approve 6 Changes for Upcoming Istanbul Hard Fork As such, the user can conduct ethereum transactions like taking a collateralized debt position with MakerDAOs stablecoin DAI, yet eventually cash out the results as bitcoin. There is clearly demand for dollar-pegged DAI loans , which are generally liquidated for fiat then paid back to unlock the crypto collateral. According to DeFi Pulse , there is roughly $256 million worth of crypto locked in MakerDAO loans alone. Now bitcoiners can get loans and get access to DAI, Luongo said. All of us being able to get access to the equity of our bitcoin holdings would be pretty powerful. Story continues It takes a village Thesis investor Charlie Noyes of Paradigm told CoinDesk tBTC represents a meaningful improvement over previous efforts to make bitcoin more extensible, without compromising on bitcoins security or decentralized ethos. The working groups goal is to launch an ethereum-based tester app with access to bitcoin this fall and a tBTCmainnet by Q4. Keep investor Olaf Carlson-Wee of Polychain Capital told CoinDesk he sees this protocol as critical infrastructure for the broader ecosystem. Different blockchains, instead of being siloed, will be able to communicate with one another and interact with one another, Carlson-Wee said. When you think longer term, is the start of a universe of interaction across blockchains
where tokens can freely move across blockchains. This is the first step toward that inevitable future. Speaking of the motivation behind forming this group to make tBTCl, rather than both startups doing it proprietarily, Luongo concluded: We want other folks to be able to come in, contribute, and help launch this with us. Summa founder James Prestwich at the first Cross-Chain Working Group meeting in San Francisco (photo via Keep) Related Stories Bitcoin Defends Price Support, But Bear Case Still Intact Moscow to Develop a Blockchain System for Transparent City Services || FinCEN Director Reminds Casinos of Crypto Compliance Requirements: The director of the Financial Crimes Enforcement Network (FinCEN) said the casino industry needs to up the ante on reporting suspicious activities related to digital currencies. Speaking at an Anti-Money Laundering Conference in Las Vegas on August 13, FinCEN director Kenneth Blanco said the agency has not received the amount of suspicious activity reports (SARs) expected. “There is a misconception that just because FinCEN has not publicly issued enforcement action against a casino or card club since last year that FinCEN is not looking at this financial sector,” Blanco said. “Let me assure you, this is not the case.” Related: Prosecutors File Formal Complaint Against Infamous BTC-e Crypto Exchange According to regulatory guidelines published in May, casinos and card tables are required to identify and report “red flags” that point to potential instances of money laundering, sanctions evasion, and other illicit financing purposes” using cryptocurrencies. This is in light of casinos being targets for malware scams and “business e-mail compromise schemes.” “Casinos should be filing SARs (suspicious activity reports) when they encounter suspicious [convertible virtual currency] activity and any cyber events that affect, facilitate, or conduct transactions,” he said. Additionally, casinos must set policies, procedures, internal controls, and risk assessments related to crypto assets. Related: US Lawmakers Question Terrorist Use of Facebook Cryptocurrency Blanco raised several questions related to due diligence: “How will you conduct blockchain analytics to determine the source of the CVC? How will you incorporate CVC-related indicators into your SAR filings as appropriate?” Blanco further drew a distinction between registered casinos or card tables and online gaming sites that function as money transmitters. Licensed casinos, online or offline, must comply with the Bank Secrecy Act (BSA) and any laws related to money services businesses, and later called compliance “a national security issue.” Story continues “We know the kind of significant information that casinos are able to develop on gaming customers. This information is extraordinary and relevant,” he said. Kenneth hopes that casinos will create a “culture of compliance” where distinct entities share information among themselves and with the proper authorities. Chips, poker, gambling photo via Shutterstock Related Stories FinCEN Says Some Dapps Are Subject to US Money Transmitter Rules In First, FinCEN Penalizes Bitcoin Trader for Violating AML Laws || FinCEN Director Reminds Casinos of Crypto Compliance Requirements: The director of the Financial Crimes Enforcement Network (FinCEN) said the casino industry needs to up the ante on reporting suspicious activities related to digital currencies.
Speaking at an Anti-Money Laundering Conference in Las Vegas on August 13, FinCEN directorKenneth Blanco saidthe agency has not received the amount of suspicious activity reports (SARs) expected.
“There is a misconception that just because FinCEN has not publicly issued enforcement action against a casino or card club since last year that FinCEN is not looking at this financial sector,” Blanco said. “Let me assure you, this is not the case.”
Related:Prosecutors File Formal Complaint Against Infamous BTC-e Crypto Exchange
According to regulatory guidelines published in May, casinos and card tables are required to identify and report “red flags” that point to potential instances of money laundering, sanctions evasion, and other illicit financing purposes” using cryptocurrencies.
This is in light of casinos being targets for malware scams and “business e-mail compromise schemes.”
“Casinos should be filing SARs (suspicious activity reports) when they encounter suspicious [convertible virtual currency] activity and any cyber events that affect, facilitate, or conduct transactions,” he said.
Additionally, casinos must set policies, procedures, internal controls, and risk assessments related to crypto assets.
Related:US Lawmakers Question Terrorist Use of Facebook Cryptocurrency
Blanco raised several questions related to due diligence:
“How will you conduct blockchain analytics to determine the source of the CVC? How will you incorporate CVC-related indicators into your SAR filings as appropriate?”
Blanco further drew a distinction between registered casinos or card tables and online gaming sites that function as money transmitters. Licensed casinos, online or offline, must comply with the Bank Secrecy Act (BSA) and any laws related to money services businesses, and later called compliance “a national security issue.”
“We know the kind of significant information that casinos are able to develop on gaming customers. This information is extraordinary and relevant,” he said.
Kenneth hopes that casinos will create a “culture of compliance” where distinct entities share information among themselves and with the proper authorities.
Chips, poker, gambling photo via Shutterstock
• FinCEN Says Some Dapps Are Subject to US Money Transmitter Rules
• In First, FinCEN Penalizes Bitcoin Trader for Violating AML Laws || Great sign for the ecosystem: Crypto devs are as bullish as ever: Never mind last year’s crushing bear market in crypto. Developers are undaunted, continuing to write code at roughly the same pace as they did during the height of the bull market, according to asurprising new analysisreleased today.
The analysis comes viaElectric Capital, a digital-asset management firm that invests in programmable money and blockchain tech. Its team “fingerprinted” more than 27,000 code repositories and 22 million code commits in Github, to create a report that looks at the health of crypto development.
The analysis showed that though there has certainly been attrition among developers, much of it can be attributed to part-time devs who may have just been dabbling with Web3 technology during the boom.
“Understanding where developers are spending their time is a good way to understand where long-term value may accrue," Avichal Garg, co-founder of Electric Capital told Decrypt.
He pointed out that everything in the new ecosystem depends on devs: Coders create the wallets, dapps, exchanges and infrastructure that’s driving the Web3 ecosystem. “This onboards more users and brings liquidity into the market, he added, ” which, in turn creates a virtuous circle, driving “more developers to want to build more things in that ecosystem.”
Some highlights of the 104-page analysis:
• The biggest developer communities continue to be Ethereum, with more than 1,200, and Bitcoin, with more than 300.
• 1 in five open soruce developers working in crypto are working on Ethereum-related projects.
• Among smaller networks, with less than $50 million in value, Grin has the most devs—33.
• The largest crypto ecosystems are starting to become “meaningful” and share similarities with some of the big open source projects such as Apache and Linux.
“I think the most surprising part is that while prices have gone down 80% from all time highs, code commits are flat,” Garg said.
“This means long-term-minded developers are continuing to write code. Interestingly, the graphs at the end also show that full time developers who do most of the work in the space keep coming in to crypto—even in a bear market. They come in more during a bull market, but they are continuing to enter in a bear market as well, which is great.” || Great sign for the ecosystem: Crypto devs are as bullish as ever: Never mind last year’s crushing bear market in crypto. Developers are undaunted, continuing to write code at roughly the same pace as they did during the height of the bull market, according to a surprising new analysis released today. The analysis comes via Electric Capital , a digital-asset management firm that invests in programmable money and blockchain tech. Its team “fingerprinted” more than 27,000 code repositories and 22 million code commits in Github, to create a report that looks at the health of crypto development. Short-timers' attitude The analysis showed that though there has certainly been attrition among developers, much of it can be attributed to part-time devs who may have just been dabbling with Web3 technology during the boom. “Understanding where developers are spending their time is a good way to understand where long-term value may accrue," Avichal Garg, co-founder of Electric Capital told Decrypt. He pointed out that everything in the new ecosystem depends on devs: Coders create the wallets, dapps, exchanges and infrastructure that’s driving the Web3 ecosystem. “This onboards more users and brings liquidity into the market, he added, ” which, in turn creates a virtuous circle, driving “more developers to want to build more things in that ecosystem.” The tl;dr Some highlights of the 104-page analysis: The biggest developer communities continue to be Ethereum, with more than 1,200, and Bitcoin, with more than 300. 1 in five open soruce developers working in crypto are working on Ethereum-related projects. Among smaller networks, with less than $50 million in value, Grin has the most devs—33. The largest crypto ecosystems are starting to become “meaningful” and share similarities with some of the big open source projects such as Apache and Linux. The biggest surprise “I think the most surprising part is that while prices have gone down 80% from all time highs, code commits are flat,” Garg said. “This means long-term-minded developers are continuing to write code. Interestingly, the graphs at the end also show that full time developers who do most of the work in the space keep coming in to crypto—even in a bear market. They come in more during a bull market, but they are continuing to enter in a bear market as well, which is great.” || UPDATE 1-NY financial regulator approves Bakkt trust license: (Adds details of statement, notice from ICE Futures, Bakkt comments, byline)
By Gertrude Chavez-Dreyfuss
NEW YORK, Aug 16 (Reuters) - Bakkt Trust Co LLC has been granted a license to operate as a limited liability trust company, the New York State Department of Financial Services said on Friday.
Bakkt is a cryptocurrency platform affiliate of Intercontinental Exchange Inc, which also owns the New York Stock Exchange.
A trust company is technically different from a bank in New York but can take deposits and make loans, and act as an agent for government bodies. A limited liability trust company must maintain significant capital reserves consistent with those of a premier fiduciary business, market participants said.
In a statement, DFS said it has authorized Bakkt to provide custody services for bitcoin in conjunction with the launch of physically delivered bitcoin futures contracts.
Bakkt will serve institutional customers and its bitcoin futures contracts will be listed for trading on ICE Futures US and cleared through ICE Clear US, the DFS said. Both entities are affiliates of Bakkt.
DFS has so far approved 22 charters or licenses for companies in the virtual currency marketplace.
In a statement, Bakkt Chief Operating Officer Adam White said the trust license enables the company "to offer institutional-grade custody via the Bakkt Warehouse alongside the federally regulated Bakkttm Bitcoin Futures contracts."
In a notice on Friday, ICE Futures US announced it will list the new Bakkt Bitcoin (USD) monthly and Bakkt Bitcoin (USD) daily futures contracts for trading on Sept. 23.
The crypto-platform earlier faced regulatory delays since ICE announced plans for the new venture last August.
Exchange operators CME Group Inc and Cboe Global Markets Inc already offer bitcoin futures in the United States, though Cboe's last contract settles this month and has not been renewed. (Reporting by Gertrude Chavez-Dreyfuss Editing by Chizu Nomiyama and Richard Chang) || UPDATE 1-NY financial regulator approves Bakkt trust license: (Adds details of statement, notice from ICE Futures, Bakkt comments, byline) By Gertrude Chavez-Dreyfuss NEW YORK, Aug 16 (Reuters) - Bakkt Trust Co LLC has been granted a license to operate as a limited liability trust company, the New York State Department of Financial Services said on Friday. Bakkt is a cryptocurrency platform affiliate of Intercontinental Exchange Inc, which also owns the New York Stock Exchange. A trust company is technically different from a bank in New York but can take deposits and make loans, and act as an agent for government bodies. A limited liability trust company must maintain significant capital reserves consistent with those of a premier fiduciary business, market participants said. In a statement, DFS said it has authorized Bakkt to provide custody services for bitcoin in conjunction with the launch of physically delivered bitcoin futures contracts. Bakkt will serve institutional customers and its bitcoin futures contracts will be listed for trading on ICE Futures US and cleared through ICE Clear US, the DFS said. Both entities are affiliates of Bakkt. DFS has so far approved 22 charters or licenses for companies in the virtual currency marketplace. In a statement, Bakkt Chief Operating Officer Adam White said the trust license enables the company "to offer institutional-grade custody via the Bakkt Warehouse alongside the federally regulated Bakkttm Bitcoin Futures contracts." In a notice on Friday, ICE Futures US announced it will list the new Bakkt Bitcoin (USD) monthly and Bakkt Bitcoin (USD) daily futures contracts for trading on Sept. 23. The crypto-platform earlier faced regulatory delays since ICE announced plans for the new venture last August. Exchange operators CME Group Inc and Cboe Global Markets Inc already offer bitcoin futures in the United States, though Cboe's last contract settles this month and has not been renewed. (Reporting by Gertrude Chavez-Dreyfuss Editing by Chizu Nomiyama and Richard Chang) View comments || User experience is vital to blockchain adoption, according to new report: Blockchain is still desperately in need of a facelift, according toa new reportthat surveyed 102 blockchain founders and CEOs. Though the widespread commercialization of blockchain technology over the last year has introduced a number of projects with passable user experience, the report, by the Los Angeles-based cryptocurrency marketing firm Zage, said many people still find the technology too complicated.
“When asked what would be the tipping point for mass adoption of blockchain, 41% of respondents felt that a seamless user experience was key,” according toThe real-world applications of blockchain technologyreport.
This is hardly surprising. For anyone who has downloaded the Bitcoin blockchain from GitHub, installed it and managed to get the whole thing working, they won’t need to be told twice—let alone when it comes to the challenging, and experimental,Lightning Network.
“I personally believe that the day when blockchain technology is used in day-to-day life is the day when people stopped talking about blockchain. Because it is just a backend technology that consumers don’t need to know about,” Allen Lee, founder of QLC Chain, said in the report.
On the plus side, big companies are well aware of the usability problems and working to correct them—at Jack Dorsey’s direction, for instance, Square recentlyhireda designer to focus on exactly these issues.
The bitcoin community is trying to design the “Satoshi symbol”
One of the biggest bugbears flagged in the report was the challenge of using decentralized applications, including those focused on finance, known as DeFi. While these have great promise, they are simply far too tricky for consumers’ everyday use.
However, some of the CEOs polled say they believe the usability problem will be short lived.
“At the moment it’s far too technical, but within a few years, it will be as easy as using a mobile app,” said David Siegel, co-founder of 20|30 Group said. We can only hope. || New York financial regulator approves Bakkt trust license: By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - Bakkt Trust Co LLC has been granted a license to operate as a limited liability trust company, the New York State Department of Financial Services said on Friday. Bakkt is a cryptocurrency platform affiliate of Intercontinental Exchange Inc <ICE.N>, which also owns the New York Stock Exchange. A trust company is technically different from a bank in New York but can take deposits and make loans, and act as an agent for government bodies. A limited liability trust company must maintain significant capital reserves consistent with those of a premier fiduciary business, market participants said. In a statement, DFS said it has authorized Bakkt to provide custody services for bitcoin in conjunction with the launch of physically delivered bitcoin futures contracts. Bakkt will serve institutional customers and its bitcoin futures contracts will be listed for trading on ICE Futures US and cleared through ICE Clear US, the DFS said. Both entities are affiliates of Bakkt. DFS has so far approved 22 charters or licenses for companies in the virtual currency marketplace. In a statement, Bakkt Chief Operating Officer Adam White said the trust license enables the company "to offer institutional-grade custody via the Bakkt Warehouse alongside the federally regulated Bakkttm Bitcoin Futures contracts." In a notice on Friday, ICE Futures US announced it will list the new Bakkt Bitcoin (USD) monthly and Bakkt Bitcoin (USD) daily futures contracts for trading on Sept. 23. The crypto-platform earlier faced regulatory delays since ICE announced plans for the new venture last August. Exchange operators CME Group Inc <CME.O> and Cboe Global Markets Inc <CBOE.Z> already offer bitcoin futures in the United States, though Cboe's last contract settles this month and has not been renewed. (Reporting by Gertrude Chavez-Dreyfuss; Editing by Chizu Nomiyama and Richard Chang) || New York financial regulator approves Bakkt trust license: By Gertrude Chavez-Dreyfuss
NEW YORK (Reuters) - Bakkt Trust Co LLC has been granted a license to operate as a limited liability trust company, the New York State Department of Financial Services said on Friday.
Bakkt is a cryptocurrency platform affiliate of Intercontinental Exchange Inc <ICE.N>, which also owns the New York Stock Exchange.
A trust company is technically different from a bank in New York but can take deposits and make loans, and act as an agent for government bodies. A limited liability trust company must maintain significant capital reserves consistent with those of a premier fiduciary business, market participants said.
In a statement, DFS said it has authorized Bakkt to provide custody services for bitcoin in conjunction with the launch of physically delivered bitcoin futures contracts.
Bakkt will serve institutional customers and its bitcoin futures contracts will be listed for trading on ICE Futures US and cleared through ICE Clear US, the DFS said. Both entities are affiliates of Bakkt.
DFS has so far approved 22 charters or licenses for companies in the virtual currency marketplace.
In a statement, Bakkt Chief Operating Officer Adam White said the trust license enables the company "to offer institutional-grade custody via the Bakkt Warehouse alongside the federally regulated Bakkttm Bitcoin Futures contracts."
In a notice on Friday, ICE Futures US announced it will list the new Bakkt Bitcoin (USD) monthly and Bakkt Bitcoin (USD) daily futures contracts for trading on Sept. 23.
The crypto-platform earlier faced regulatory delays since ICE announced plans for the new venture last August.
Exchange operators CME Group Inc <CME.O> and Cboe Global Markets Inc <CBOE.Z> already offer bitcoin futures in the United States, though Cboe's last contract settles this month and has not been renewed.
(Reporting by Gertrude Chavez-Dreyfuss; Editing by Chizu Nomiyama and Richard Chang) || Coinbase drops Zcash for UK users, despite apparent regulatory approval: Updated with comments from Zcash. Coinbase is pulling support for Zcash for UK customers, according to emails to investors made public on Twitter. The privacy coin, which contains provisions allowing holders to “shield” transactions from observers, was available for withdrawal and deposit for Coinbase users whose addresses are transparent. Coinbase told customers via emails shared on Twitter that they had until August 26 to convert their holdings to fiat or move them to a third party wallet—or else Coinbase would convert it for them. It gave no explicit reason, only saying, “Customers in the UK will no longer be able to hold a Zcash balance with us … If you don’t convert or send your Zcash by 26th August, we’ll automatically liquidate your ZEC balance into your GBP wallet, bringing your ZEC balance to £0.00, before removing your ZEC wallet from your Coinbase account. We’ll give you reminders in advance so this doesn’t come as a surprise.” As Coindesk points out , Zcash nominally appears to fall under the purview of “exchange tokens,” established cryptocurrencies like Bitcoin and Ethereum that were recently approved by the Financial Conduct Authority. Per the FCA’s guidance: “[Exchange tokens] are not issued or backed by any central authority and are intended and designed to be used as a means of exchange. They tend to be a decentralized tool for buying and selling goods and services without traditional intermediaries. These tokens are usually outside the perimeter.” It even goes so far as to lump in “privacy tokens” with this distinction—but stops short of giving its appraisal. One Twitter pundit reckons the Zcash delisting has got something to do with Coinbase seeking reentry into the UK's "fast payments" infrastructure—a service it inexplicably halted in May. Delisting $ZEC was probably a pre-condition of Coinbase getting access to the UK's 'faster payments' system back ... (i.e. it wasn't a regulatory requirement, but a banking one) — Alistair Milne (@alistairmilne) August 12, 2019 But who knows! For its part, Zcash pins the blame on Coinbase. "The recent delisting by Coinbase in the UK is not related to a compliance or a policy issue and we have reached out to them as this is an issue coming from their end," a spokeswoman for Zerocoin Electric Company said in an email to Decrypt . "Hopefully it is temporary and will be solved as soon as possible and we would like to emphasize that Zcash is 100% compatible with UK regulations, including all KYC/AML requirements. However in the meantime, UK residents are still able to buy/sell ZEC through Gemini and other exchanges in the UK." This is a developing story. We have reached out to the FCA and Coinbase, and will update with any response. || Coinbase drops Zcash for UK users, despite apparent regulatory approval: Updated with comments from Zcash.
Coinbase is pulling support forZcashfor UK customers, according to emails to investors made public on Twitter.
The privacy coin, which contains provisions allowing holders to “shield” transactions from observers, was available for withdrawal and deposit for Coinbase users whose addresses are transparent.
Coinbase told customers via emailsshared on Twitterthat they had until August 26 to convert their holdings to fiat or move them to a third party wallet—or else Coinbase would convert it for them.
It gave no explicit reason, only saying, “Customers in the UK will no longer be able to hold a Zcash balance with us … If you don’t convert or send your Zcash by 26th August, we’ll automatically liquidate your ZEC balance into your GBP wallet, bringing your ZEC balance to £0.00, before removing your ZEC wallet from your Coinbase account. We’ll give you reminders in advance so this doesn’t come as a surprise.”
AsCoindeskpoints out, Zcash nominally appears to fall under the purview of “exchange tokens,” established cryptocurrencies like Bitcoin and Ethereum that wererecentlyapproved by the Financial Conduct Authority.
Per the FCA’s guidance: “[Exchange tokens] are not issued or backed by any central authority and are intended and designed to be used as a means of exchange. They tend to be a decentralized tool for buying and selling goods and services without traditional intermediaries. These tokens are usually outside the perimeter.”
It even goes so far as to lump in “privacy tokens” with this distinction—but stops short of giving its appraisal.
One Twitter pundit reckons the Zcash delisting has got something to do with Coinbase seeking reentry into the UK's "fast payments" infrastructure—a service itinexplicably haltedin May.
But who knows!
For its part, Zcash pins the blame on Coinbase. "The recent delisting by Coinbase in the UK is not related to a compliance or a policy issue and we have reached out to them as this is an issue coming from their end," a spokeswoman for Zerocoin Electric Company said in an email toDecrypt. "Hopefully it is temporary and will be solved as soon as possible and we would like to emphasize that Zcash is 100% compatible with UK regulations, including all KYC/AML requirements. However in the meantime, UK residents are still able to buy/sell ZEC through Gemini and other exchanges in the UK."
This is a developing story. We have reached out to the FCA and Coinbase, and will update with any response. || Doubts hang over China’s Bitcoin rival boast: China’s claim that its cryptocurrency rival to Bitcoin is almost ready for launch has been branded as nonsense by some of the region’s crypto observers. Earlier this week, the deputy director of the People’s Bank of China (PBC) – Mu Changchun – hinted at an event in Beijing that the cryptocurrency was “very close to being out” and that the bank itself would be the issuer of the digital asset. In a Coin Rivet article for the Daily Express, it was reported that the Chinese government has been working on the project on-and-off for nearly five years, despite publicly eschewing Bitcoin and other global cryptocurrencies. The crypto narrative from the political corridors of Beijing has been ramped up in recent weeks to the point of almost suggesting the new digital coin has been designed to replace the physical Chinese yuan within two years. But that, say experts, appears totally implausible. Massive potential “There’s a massive potential cost for any nation facing the prospect of being late to the party with building a cryptocurrency infrastructure,” trader and exchange analyst Emile Shihao told express.co.uk . “Over the next few years, it is likely that cryptocurrencies will become mainstream, and China – being the technologically advanced nation that it is – will naturally want to be at the sharp end of advancing that technology. “But, in my opinion, something doesn’t quite add up with either the way the PBC is presenting this move or the very wild claims we’re hearing – some of it doesn’t make sense.” One aspect of the many claims about the BTC rival and its ability to replace China’s physical currency that grates with observers is the fact that it will almost certainly rely on mobile phones. Fundamental flaw As advanced as the nation is with mobile phone technology, there is a fundamental flaw in the plan. “One and a half billion people live in China – but more than half of that massive population do not own a smartphone,” explains banker Chi Gang. Story continues “The government is talking about creating an asset that will overshadow Bitcoin, and yet it couldn’t possibly do that because it simply has zero chance of being widely available to the people. “China is nowhere near ready to execute this over-ambitious plan, and the claims of Mr Mu Changchun just simply don’t hold water – it’s nonsense.” Despite the criticism, the PBC maintains it is pressing ahead with taking digital currency mainstream. It was recently revealed the bank had registered several patents relating to crypto wallets designed to exchange yuan for a new cryptocurrency under the PBC’s control. The post Doubts hang over China’s Bitcoin rival boast appeared first on Coin Rivet . || Doubts hang over China’s Bitcoin rival boast: China’s claim that its cryptocurrency rival to Bitcoin is almost ready for launch has been branded as nonsense by some of the region’s crypto observers. Earlier this week, the deputy director of the People’s Bank of China (PBC) – Mu Changchun – hinted at an event in Beijing that the cryptocurrency was “very close to being out” and that the bank itself would be the issuer of the digital asset. In a Coin Rivet article for the Daily Express, it was reported that the Chinese government has been working on the project on-and-off for nearly five years, despite publicly eschewing Bitcoin and other global cryptocurrencies. The crypto narrative from the political corridors of Beijing has been ramped up in recent weeks to the point of almost suggesting the new digital coin has been designed to replace the physical Chinese yuan within two years. But that, say experts, appears totally implausible. Massive potential “There’s a massive potential cost for any nation facing the prospect of being late to the party with building a cryptocurrency infrastructure,” trader and exchange analyst Emile Shihao told express.co.uk . “Over the next few years, it is likely that cryptocurrencies will become mainstream, and China – being the technologically advanced nation that it is – will naturally want to be at the sharp end of advancing that technology. “But, in my opinion, something doesn’t quite add up with either the way the PBC is presenting this move or the very wild claims we’re hearing – some of it doesn’t make sense.” One aspect of the many claims about the BTC rival and its ability to replace China’s physical currency that grates with observers is the fact that it will almost certainly rely on mobile phones. Fundamental flaw As advanced as the nation is with mobile phone technology, there is a fundamental flaw in the plan. “One and a half billion people live in China – but more than half of that massive population do not own a smartphone,” explains banker Chi Gang. Story continues “The government is talking about creating an asset that will overshadow Bitcoin, and yet it couldn’t possibly do that because it simply has zero chance of being widely available to the people. “China is nowhere near ready to execute this over-ambitious plan, and the claims of Mr Mu Changchun just simply don’t hold water – it’s nonsense.” Despite the criticism, the PBC maintains it is pressing ahead with taking digital currency mainstream. It was recently revealed the bank had registered several patents relating to crypto wallets designed to exchange yuan for a new cryptocurrency under the PBC’s control. The post Doubts hang over China’s Bitcoin rival boast appeared first on Coin Rivet . || Doubts hang over China’s Bitcoin rival boast: China’s claim that its cryptocurrency rival to Bitcoin is almost ready for launch has been branded as nonsense by some of the region’s crypto observers. Earlier this week, the deputy director of the People’s Bank of China (PBC) – Mu Changchun – hinted at an event in Beijing that the cryptocurrency was “very close to being out” and that the bank itself would be the issuer of the digital asset. In a Coin Rivet article for the Daily Express, it was reported that the Chinese government has been working on the project on-and-off for nearly five years, despite publicly eschewing Bitcoin and other global cryptocurrencies. The crypto narrative from the political corridors of Beijing has been ramped up in recent weeks to the point of almost suggesting the new digital coin has been designed to replace the physical Chinese yuan within two years. But that, say experts, appears totally implausible. Massive potential “There’s a massive potential cost for any nation facing the prospect of being late to the party with building a cryptocurrency infrastructure,” trader and exchange analyst Emile Shihao told express.co.uk . “Over the next few years, it is likely that cryptocurrencies will become mainstream, and China – being the technologically advanced nation that it is – will naturally want to be at the sharp end of advancing that technology. “But, in my opinion, something doesn’t quite add up with either the way the PBC is presenting this move or the very wild claims we’re hearing – some of it doesn’t make sense.” One aspect of the many claims about the BTC rival and its ability to replace China’s physical currency that grates with observers is the fact that it will almost certainly rely on mobile phones. Fundamental flaw As advanced as the nation is with mobile phone technology, there is a fundamental flaw in the plan. “One and a half billion people live in China – but more than half of that massive population do not own a smartphone,” explains banker Chi Gang. Story continues “The government is talking about creating an asset that will overshadow Bitcoin, and yet it couldn’t possibly do that because it simply has zero chance of being widely available to the people. “China is nowhere near ready to execute this over-ambitious plan, and the claims of Mr Mu Changchun just simply don’t hold water – it’s nonsense.” Despite the criticism, the PBC maintains it is pressing ahead with taking digital currency mainstream. It was recently revealed the bank had registered several patents relating to crypto wallets designed to exchange yuan for a new cryptocurrency under the PBC’s control. The post Doubts hang over China’s Bitcoin rival boast appeared first on Coin Rivet . || Blockstream makes its Bitcoin mining operations public: Blockstream, the Canadian blockchain services company well known for its work on the Bitcoin Lightning Network , yesterday announced details of its Bitcoin mining operations, opening the doors to more institutional and enterprise customers. It revealed it had been mining on behalf of major investment company Fidelity and LinkedIn co-founder Reid Hoffman. It has also created a mining pool called Blockstream Pool, to offer smaller miners the chance to tap into its vast resources. The two offerings will be based in North America and will be using sustainable energy in partnership with utility provider Hydro Quebec. The company said the project began in 2017 due to concerns that the Bitcoin mining hashrate became increasingly centralized. According to Blockstream CSO Samson Mow, the mining operations can produce up to six exahashes of mining power, at full power, which is just shy of 10 percent of Bitcoin’s current total network hashrate —currently at 67.6 exahashes. Mow added that Blockstream itself will continue to use a small amount of the computing power involved to mine on its own behalf, with the majority in control of its clients. In theory, this stops it from having too much control over the network—unless it decides to run all the equipment for its own purposes. Blockstream said that its mining pool is the first production mining pool utilizing the BetterHash protocol, a protocol that gives individual miners the ability to control which transactions to include, and which blocks to mine. This gives more decision making power to its clients, helping to keep the network decentralized. But again, as long as it allows them this choice.
[Social Media Buzz]
VeryHash 1st bounty for cloud miners, join now to win up to 2 $BTC with your friends! https://t.co/nsPJ4EdROy || そもそも仮想通貨のルーツ「bitcoin」とはなんなのか？
https://t.co/6WA2SEAZcE || You can change someone's life in seconds 😐 || #BlockSafe #BSAFE #STO #bitcoin #btc #cryptocurrency || XEM
短期的にはアセンディングトライアングルを上抜け。
「0.1$」を早速ブレイクしてきました。
BTC建てでは日足レベルで大きな逆三尊の形が意識されています。
ここが決まると日足のトレンドが変わってくると思います。 https://t.co/SjWHjnrt1n || @pulte I would choose Bitcoin and donate some to others around the world || #BTC, #bit...
|
10345.81, 10916.05, 10763.23, 10138.05, 10131.06, 10407.96, 10159.96, 10138.52, 10370.82, 10185.50
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Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 6349.90, 6675.35, 6456.58, 6550.16, 6499.27, 6734.82, 6769.94, 6776.55, 6729.74, 6083.69, 6162.48, 6173.23, 6249.18, 6093.67, 6157.13, 5903.44, 6218.30, 6404.00, 6385.82, 6614.18, 6529.59, 6597.55, 6639.14, 6673.50, 6856.93, 6773.88, 6741.75, 6329.95, 6394.71, 6228.81, 6238.05, 6276.12, 6359.64, 6741.75, 7321.04, 7370.78, 7466.86, 7354.13, 7419.29, 7418.49, 7711.11, 8424.27, 8181.39, 7951.58, 8165.01, 8192.15, 8218.46, 8180.48, 7780.44, 7624.91, 7567.15, 7434.39, 7032.85, 7068.48, 6951.80, 6753.12, 6305.80, 6568.23, 6184.71, 6295.73, 6322.69, 6297.57, 6199.71, 6308.52, 6334.73, 6580.63, 6423.76, 6506.07, 6308.53, 6488.76, 6376.71, 6534.88, 6719.96, 6763.19, 6707.26, 6884.64, 7096.28, 7047.16, 6978.23, 7037.58, 7193.25, 7272.72, 7260.06, 7361.66, 6792.83, 6529.17, 6467.07, 6225.98, 6300.86, 6329.70.
|
[Bitcoin Technical Analysis for 2018-09-10]
Volume: 3714100000, RSI (14-day): 39.18, 50-day EMA: 6822.95, 200-day EMA: 7518.56
[Wider Market Context]
Gold Price: 1193.00, Gold RSI: 42.28
Oil Price: 67.54, Oil RSI: 45.07
[Recent News (last 7 days)]
SEC halts trading in two cryptocurrency products, citing market confusion: By Trevor Hunnicutt NEW YORK (Reuters) - The U.S. Securities and Exchange Commission said on Sunday it was immediately suspending trading in two investment products that track cryptocurrencies, citing confusion in the markets over whether the products are exchange-traded funds (ETFs). The SEC said in a statement that trading in Bitcoin Tracker One (CXBTF.PQ) (CXBTF.PK) and Ether Tracker One (CETHF.PQ) (CETHF.PK) would be halted in the United States until at least Sept. 20. The products promise to track the price of the cryptocurrencies, less fees. They are both listed on a Nasdaq Inc (NDAQ.O) exchange in Stockholm, but trade "over the counter" in transactions that occur off exchanges within the United States. "It appears ... that there is a lack of current, consistent and accurate information," the SEC said in a notice posted on its website. "Application materials submitted to enable the offer and sale of these financial products in the United States, as well as certain trading websites, characterize them as 'Exchange Traded Funds.'" The issuer of Bitcoin Tracker One and Ether Tracker One, XBT Provider AB and its parent company, did not immediately respond to emailed requests for comment. Nasdaq declined to comment. The SEC has taken a strict stance against letting ETFs tracking bitcoin and other cryptocurrencies come to market. But investment firms have been pushing other types of investments that attempt to make it as easy to trade cryptocurrencies as a regular stock. Those products are sometimes called ETFs, but that term generally refers to a different and often more stringently regulated product. Some industry experts, including the largest ETF provider BlackRock Inc (BLK.N), have called for regulators to standardize the terms used to describe ETFs and other kinds of investment products. Virtual currency, including bitcoin and ether, can be used to move money around the world quickly and with relative anonymity, without the need for a central authority, such as a bank or government. A fund holding the currency could attract more investors and push its price higher. (Reporting by Trevor Hunnicutt; Editing by Peter Cooney and Will Dunham) View comments || SEC halts trading in two cryptocurrency products, citing market confusion: By Trevor Hunnicutt NEW YORK (Reuters) - The U.S. Securities and Exchange Commission said on Sunday it was immediately suspending trading in two investment products that track cryptocurrencies, citing confusion in the markets over whether the products are exchange-traded funds (ETFs). The SEC said in a statement that trading in Bitcoin Tracker One (CXBTF.PQ) (CXBTF.PK) and Ether Tracker One (CETHF.PQ) (CETHF.PK) would be halted in the United States until at least Sept. 20. The products promise to track the price of the cryptocurrencies, less fees. They are both listed on a Nasdaq Inc (NDAQ.O) exchange in Stockholm, but trade "over the counter" in transactions that occur off exchanges within the United States. "It appears ... that there is a lack of current, consistent and accurate information," the SEC said in a notice posted on its website. "Application materials submitted to enable the offer and sale of these financial products in the United States, as well as certain trading websites, characterize them as 'Exchange Traded Funds.'" The issuer of Bitcoin Tracker One and Ether Tracker One, XBT Provider AB and its parent company, did not immediately respond to emailed requests for comment. Nasdaq declined to comment. The SEC has taken a strict stance against letting ETFs tracking bitcoin and other cryptocurrencies come to market. But investment firms have been pushing other types of investments that attempt to make it as easy to trade cryptocurrencies as a regular stock. Those products are sometimes called ETFs, but that term generally refers to a different and often more stringently regulated product. Some industry experts, including the largest ETF provider BlackRock Inc (BLK.N), have called for regulators to standardize the terms used to describe ETFs and other kinds of investment products. Virtual currency, including bitcoin and ether, can be used to move money around the world quickly and with relative anonymity, without the need for a central authority, such as a bank or government. A fund holding the currency could attract more investors and push its price higher. (Reporting by Trevor Hunnicutt; Editing by Peter Cooney and Will Dunham) || SEC halts trading in two cryptocurrency products, citing market confusion: By Trevor Hunnicutt NEW YORK (Reuters) - The U.S. Securities and Exchange Commission said on Sunday it was immediately suspending trading in two investment products that track cryptocurrencies, citing confusion in the markets over whether the products are exchange-traded funds (ETFs). The SEC said in a statement that trading in Bitcoin Tracker One and Ether Tracker One would be halted in the United States until at least Sept. 20. The products promise to track the price of the cryptocurrencies, less fees. They are both listed on a Nasdaq Inc exchange in Stockholm, but trade "over the counter" in transactions that occur off exchanges within the United States. "It appears ... that there is a lack of current, consistent and accurate information," the SEC said in a notice posted on its website. "Application materials submitted to enable the offer and sale of these financial products in the United States, as well as certain trading websites, characterize them as 'Exchange Traded Funds.'" The issuer of Bitcoin Tracker One and Ether Tracker One, XBT Provider AB and its parent company, did not immediately respond to emailed requests for comment. Nasdaq declined to comment. The SEC has taken a strict stance against letting ETFs tracking bitcoin and other cryptocurrencies come to market. But investment firms have been pushing other types of investments that attempt to make it as easy to trade cryptocurrencies as a regular stock. Those products are sometimes called ETFs, but that term generally refers to a different and often more stringently regulated product. Some industry experts, including the largest ETF provider BlackRock Inc , have called for regulators to standardize the terms used to describe ETFs and other kinds of investment products. Virtual currency, including bitcoin and ether, can be used to move money around the world quickly and with relative anonymity, without the need for a central authority, such as a bank or government. A fund holding the currency could attract more investors and push its price higher. (Reporting by Trevor Hunnicutt; Editing by Peter Cooney and Will Dunham) || SEC halts trading in two cryptocurrency products, citing market confusion: By Trevor Hunnicutt NEW YORK (Reuters) - The U.S. Securities and Exchange Commission said on Sunday it was immediately suspending trading in two investment products that track cryptocurrencies, citing confusion in the markets over whether the products are exchange-traded funds (ETFs). The SEC said in a statement that trading in Bitcoin Tracker One (CXBTF.PQ) (CXBTF.PK) and Ether Tracker One (CETHF.PQ) (CETHF.PK) would be halted in the United States until at least Sept. 20. The products promise to track the price of the cryptocurrencies, less fees. They are both listed on a Nasdaq Inc (NDAQ.O) exchange in Stockholm, but trade "over the counter" in transactions that occur off exchanges within the United States. "It appears ... that there is a lack of current, consistent and accurate information," the SEC said in a notice posted on its website. "Application materials submitted to enable the offer and sale of these financial products in the United States, as well as certain trading websites, characterize them as 'Exchange Traded Funds.'" The issuer of Bitcoin Tracker One and Ether Tracker One, XBT Provider AB and its parent company, did not immediately respond to emailed requests for comment. Nasdaq declined to comment. The SEC has taken a strict stance against letting ETFs tracking bitcoin and other cryptocurrencies come to market. But investment firms have been pushing other types of investments that attempt to make it as easy to trade cryptocurrencies as a regular stock. Those products are sometimes called ETFs, but that term generally refers to a different and often more stringently regulated product. Some industry experts, including the largest ETF provider BlackRock Inc (BLK.N), have called for regulators to standardize the terms used to describe ETFs and other kinds of investment products. Virtual currency, including bitcoin and ether, can be used to move money around the world quickly and with relative anonymity, without the need for a central authority, such as a bank or government. A fund holding the currency could attract more investors and push its price higher. (Reporting by Trevor Hunnicutt; Editing by Peter Cooney and Will Dunham) || SEC halts trading in two cryptocurrency products, citing market confusion: By Trevor Hunnicutt
NEW YORK (Reuters) - The U.S. Securities and Exchange Commission said on Sunday it was immediately suspending trading in two investment products that track cryptocurrencies, citing confusion in the markets over whether the products are exchange-traded funds (ETFs).
The SEC said in a statement that trading in Bitcoin Tracker One (CXBTF.PQ) (CXBTF.PK) and Ether Tracker One (CETHF.PQ) (CETHF.PK) would be halted in the United States until at least Sept. 20.
The products promise to track the price of the cryptocurrencies, less fees. They are both listed on a Nasdaq Inc (NDAQ.O) exchange in Stockholm, but trade "over the counter" in transactions that occur off exchanges within the United States.
"It appears ... that there is a lack of current, consistent and accurate information," the SEC said in a notice posted on its website. "Application materials submitted to enable the offer and sale of these financial products in the United States, as well as certain trading websites, characterize them as 'Exchange Traded Funds.'"
The issuer of Bitcoin Tracker One and Ether Tracker One, XBT Provider ABand its parent company, did not immediately respond to emailed requests for comment. Nasdaq declined to comment.
The SEC has taken a strict stance against letting ETFs tracking bitcoin and other cryptocurrencies come to market.
But investment firms have been pushing other types of investments that attempt to make it as easy to trade cryptocurrencies as a regular stock.
Those products are sometimes called ETFs, but that term generally refers to a different and often more stringently regulated product. Some industry experts, including the largest ETF provider BlackRock Inc (BLK.N), have called for regulators to standardize the terms used to describe ETFs and other kinds of investment products.
Virtual currency, including bitcoin and ether, can be used to move money around the world quickly and with relative anonymity, without the need for a central authority, such as a bank or government. A fund holding the currency could attract more investors and push its price higher.
(Reporting by Trevor Hunnicutt; Editing by Peter Cooney and Will Dunham) || SEC halts trading in two cryptocurrency products, citing market confusion: By Trevor Hunnicutt NEW YORK (Reuters) - The U.S. Securities and Exchange Commission said on Sunday it was immediately suspending trading in two investment products that track cryptocurrencies, citing confusion in the markets over whether the products are exchange-traded funds (ETFs). The SEC said in a statement that trading in Bitcoin Tracker One and Ether Tracker One would be halted in the United States until at least Sept. 20. The products promise to track the price of the cryptocurrencies, less fees. They are both listed on a Nasdaq Inc exchange in Stockholm, but trade "over the counter" in transactions that occur off exchanges within the United States. "It appears ... that there is a lack of current, consistent and accurate information," the SEC said in a notice posted on its website. "Application materials submitted to enable the offer and sale of these financial products in the United States, as well as certain trading websites, characterize them as 'Exchange Traded Funds.'" The issuer of Bitcoin Tracker One and Ether Tracker One, XBT Provider AB and its parent company, did not immediately respond to emailed requests for comment. Nasdaq declined to comment. The SEC has taken a strict stance against letting ETFs tracking bitcoin and other cryptocurrencies come to market. But investment firms have been pushing other types of investments that attempt to make it as easy to trade cryptocurrencies as a regular stock. Those products are sometimes called ETFs, but that term generally refers to a different and often more stringently regulated product. Some industry experts, including the largest ETF provider BlackRock Inc , have called for regulators to standardize the terms used to describe ETFs and other kinds of investment products. Virtual currency, including bitcoin and ether, can be used to move money around the world quickly and with relative anonymity, without the need for a central authority, such as a bank or government. A fund holding the currency could attract more investors and push its price higher. (Reporting by Trevor Hunnicutt; Editing by Peter Cooney and Will Dunham) || Why NVIDIA and Ambarella Should Be Partnering Up for Autonomous Vehicles: Transforming a business can be difficult. Just ask video- and image-processing chipmakerAmbarella(NASDAQ: AMBA), which has beenweaning itself from the action-cameraand broader consumer electronics industry over the last couple of years. The company has been doubling down on industrial end markets instead, but stiff opposition awaits there, too.
On Ambarella's second-quarter earnings call, CEO Fermi Wang was asked if his company's newcomputer-vision chipsare going to run into competition fromNVIDIA's(NASDAQ: NVDA)work on autonomous vehicles. His reply was that the two companies' products are more complementary to each other than many investors think and that Ambarella's real competition is Mobileye, which was bought byIntel(NASDAQ: INTC)in 2017. If that's true, an Ambarella-NVIDIA tag team, in some shape or form, could be a win-win for both companies in the fledgling autonomous-vehicle industry.
NVIDIA is a leader in the advanced driver-assistance systems (ADAS) and autonomous-vehicle industries. The chipmaker provides a complete solution for automakers and developers, including artificial-intelligence-powered processors, sensors, and software. Revenue for the company's automotive division increased 8.5% in the first half of fiscal 2019, reaching $306 million.
Ambarella makes most of its hay these days in the security-camera industry, but revenue from automakers has been building. The chipmaker is a leader in providing car recording systems in the Chinese market and is trying to get its video tech into other auto uses like ADAS systems. Management sees sales from the auto industry reaching more than 20% of its total revenue by the end of 2018. Ambarella's revenue is currently on track to fall 21% this year, to $232 million.
Investors are pinning their hopes on Ambarella's new computer-vision chips, which are finding their initial application in the high-definition security-camera industry. However, management says that its new tech is being assessed for use in ADAS (a market dominated by Mobileye), as well as in fully autonomous systems, where it would complement work that NVIDIA has already done in that department.
Image source: Getty Images.
The two technology companies' fortunes have been headed in opposite directions for the last couple of years. While NVIDIA has been finding new uses for its graphics-processing products in data centers, autos, and professional visualization -- while enjoying continued growth in the video game industry -- Ambarella desperately needs a win from its computer-vision products. Revenue from a security-camera manufacturer is expected to start rolling in during the first half of 2019, but CEO Wang said sales from industrial robotics and autos will take longer. That's likely due to competition from Mobileye (which grew 37% year over year last quarter, according to Intel) on the auto side andCognexin industrial robotics.
Ambarella contends that its vision chips are superior to anything else on the market right now, but converting that into growth is challenging. That's where NVIDIA could come in: It's growing its new end markets, but at a slower pace than its bread-and-butter video game business. Gaming revenue rose 52% last quarter, compared to 26% growth for the rest of the company.
Pairing up with Ambarella -- be it through a sales partnership or an acquisition -- could bolster NVIDIA's presence in the nascent self-driving auto industry and rekindle growth in its auto division.
Ambarella would benefit from NVIDIA's marketing and sales prowess, not to mention access to deeper pockets while new uses for computer vision are still under development. After several years of decline, Ambarella's enterprise value sits at $890 million, and it could head lower if sales keep sliding over the next few quarters as management anticipates; NVIDIA is currently hauling in over $3 billion in salesevery quarter.
Of course, this potential partnership between NVIDIA and Ambarella is just my speculation and isn't rooted in any public announcement. However, since the two companies complement one another in the ADAS and self-driving-car departments, a tying of the knot would make a lot of sense.
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Nicholas Rossolilloand his clients own shares of Ambarella, Intel, and Nvidia. The Motley Fool owns shares of and recommends Ambarella, Cognex, and Nvidia. The Motley Fool has adisclosure policy. || Why NVIDIA and Ambarella Should Be Partnering Up for Autonomous Vehicles: Transforming a business can be difficult. Just ask video- and image-processing chipmaker Ambarella (NASDAQ: AMBA) , which has been weaning itself from the action-camera and broader consumer electronics industry over the last couple of years. The company has been doubling down on industrial end markets instead, but stiff opposition awaits there, too. On Ambarella's second-quarter earnings call, CEO Fermi Wang was asked if his company's new computer-vision chips are going to run into competition from NVIDIA 's (NASDAQ: NVDA) work on autonomous vehicles. His reply was that the two companies' products are more complementary to each other than many investors think and that Ambarella's real competition is Mobileye, which was bought by Intel (NASDAQ: INTC) in 2017. If that's true, an Ambarella-NVIDIA tag team, in some shape or form, could be a win-win for both companies in the fledgling autonomous-vehicle industry. What the two companies do NVIDIA is a leader in the advanced driver-assistance systems (ADAS) and autonomous-vehicle industries. The chipmaker provides a complete solution for automakers and developers, including artificial-intelligence-powered processors, sensors, and software. Revenue for the company's automotive division increased 8.5% in the first half of fiscal 2019, reaching $306 million. Ambarella makes most of its hay these days in the security-camera industry, but revenue from automakers has been building. The chipmaker is a leader in providing car recording systems in the Chinese market and is trying to get its video tech into other auto uses like ADAS systems. Management sees sales from the auto industry reaching more than 20% of its total revenue by the end of 2018. Ambarella's revenue is currently on track to fall 21% this year, to $232 million. Investors are pinning their hopes on Ambarella's new computer-vision chips, which are finding their initial application in the high-definition security-camera industry. However, management says that its new tech is being assessed for use in ADAS (a market dominated by Mobileye), as well as in fully autonomous systems, where it would complement work that NVIDIA has already done in that department. Story continues A long line of cars stuck in a traffic jam in a city Image source: Getty Images. Ambarella's pain could be NVIDIA's gain The two technology companies' fortunes have been headed in opposite directions for the last couple of years. While NVIDIA has been finding new uses for its graphics-processing products in data centers, autos, and professional visualization -- while enjoying continued growth in the video game industry -- Ambarella desperately needs a win from its computer-vision products. Revenue from a security-camera manufacturer is expected to start rolling in during the first half of 2019, but CEO Wang said sales from industrial robotics and autos will take longer. That's likely due to competition from Mobileye (which grew 37% year over year last quarter, according to Intel) on the auto side and Cognex in industrial robotics . Ambarella contends that its vision chips are superior to anything else on the market right now, but converting that into growth is challenging. That's where NVIDIA could come in: It's growing its new end markets, but at a slower pace than its bread-and-butter video game business. Gaming revenue rose 52% last quarter, compared to 26% growth for the rest of the company. Pairing up with Ambarella -- be it through a sales partnership or an acquisition -- could bolster NVIDIA's presence in the nascent self-driving auto industry and rekindle growth in its auto division. Ambarella would benefit from NVIDIA's marketing and sales prowess, not to mention access to deeper pockets while new uses for computer vision are still under development. After several years of decline, Ambarella's enterprise value sits at $890 million, and it could head lower if sales keep sliding over the next few quarters as management anticipates; NVIDIA is currently hauling in over $3 billion in sales every quarter . Of course, this potential partnership between NVIDIA and Ambarella is just my speculation and isn't rooted in any public announcement. However, since the two companies complement one another in the ADAS and self-driving-car departments, a tying of the knot would make a lot of sense. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Nicholas Rossolillo and his clients own shares of Ambarella, Intel, and Nvidia. The Motley Fool owns shares of and recommends Ambarella, Cognex, and Nvidia. The Motley Fool has a disclosure policy . || 3 Tech Stocks That I Wouldn't Touch: Many investors like to look for stocks with low share prices, particularly if those prices are much lower than they have been in the recent past. In other words, they're trying to bottom-fish for a good deal.
Sometimes that strategy works, but often the companies that underlie these low-priced stocks are simply bad businesses, which can lead to further -- potentially significant -- losses for shareholders.
Image source: Fitbit.
To that end, here are three tech stocks that might be tempting for investors but are ultimately bad businesses that investors should avoid:GoPro(NASDAQ: GPRO),Fitbit(NYSE: FIT), andSnapchat(NYSE: SNAP).
When GoPro first went public back in 2014, the shares surged from around $36 per share to nearly $90 per share before plummeting. The stock has sometimes bounced on its way down, but the trend has been unmistakably downward.
GPROdata byYCharts.
This downward trend reflects the company's poor underlying business fundamentals. On Aug. 2, GoPro announced its second-quarter financial results, and they weren't pretty. Revenue was down 5% from a year ago; its gross margin percentage contracted to 30.8%, down from 36.2% a year earlier; and its operating loss widened.
This isn't a short-term trend, either. GoPro's revenue, margins, and operating income have all been on the decline for quite some time.
GPRO Gross Profit Margin (TTM)data byYCharts.
Ultimately, GoPro's business isn't in good shape, and the company's recent financial performance doesn't give a lot of hope that things are getting better. This is a stock that I'd avoid.
Fitbit, which went public in 2015, saw its share price peak at close to $50 per share, and has been on the decline ever since. As of writing, the shares closed at $5.83 per share.
Fitbit's business has also performed poorly since the company went public. Although the company was profitable and growing when it went public, Fitbit's revenue has been going in the wrong direction and the wearable device specialist is now posting steep losses.
FIT Net Income (TTM)data byYCharts.
Last quarter, Fitbit reported some ugly results, as sales dropped 15% thanks to a "20% decline in devices sold, partially offset by an average selling price increase of 6% to $106 per device." The company reported negative free cash flow of $83 million.
Looking to the current quarter, management guided to a revenue decline of 3% from the same quarter a year ago assales of its smartwatches growand as declines in its tracker revenue moderate. The company also said that it's expecting "free cash flow of approximately negative $30 million in Q3 and net income per share between a $0.02 loss and a $0.01 profit."
That outlook is hardly inspiring.
Ultimately, Fitbit just doesn't seem like a great business or a business with the potential to be great.
Snapchat, which has been a poor performer year to date is another stock that I'm staying far away from.
SNAPdata byYCharts.
Unlike Fitbit and GoPro, Snapchat isn't a business in decline. Indeed, analysts expect the company to post 40% revenue growth in 2018 and are betting on another 38.2% growth in the following year.
However, there are some troubling issues with Snapchat's business:
• It's losing money (analysts expect the company to post a loss of $0.55 per share this year) and is likely to continue to lose money for the foreseeable future (analyst consensus is that Snapchat will lose $0.42 per share next year).
• The stock is extremely expensive: It's trading at nearly 12 times analyst estimates for 2018 revenue and nearly 8.5 times expected 2019 revenue. By contrast, the social media bellwetherFacebook(NASDAQ: FB)trades at roughly 8.9 times 2018 analyst revenue estimates and around 7.1 times 2019 estimates. Facebook's growth rates aren't expected to be as high as Snapchat's (36.9% in 2018 and 25.1% in 2019), but unlike Snapchat, Facebook is growing profits.
To top it all off, as my Foolish colleague pointed out, management seems tohave a credibility problem.
There are better social media stocks, let alone other tech stocks, that investors can put their hard-earned money into. I'm steering clear of Snapchat.
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Ashraf Eassahas no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Facebook, Fitbit, and GoPro. The Motley Fool has adisclosure policy. || 3 Tech Stocks That I Wouldn't Touch: Many investors like to look for stocks with low share prices, particularly if those prices are much lower than they have been in the recent past. In other words, they're trying to bottom-fish for a good deal. Sometimes that strategy works, but often the companies that underlie these low-priced stocks are simply bad businesses, which can lead to further -- potentially significant -- losses for shareholders. Fitbit's Versa smartwatch. Image source: Fitbit. To that end, here are three tech stocks that might be tempting for investors but are ultimately bad businesses that investors should avoid: GoPro (NASDAQ: GPRO) , Fitbit (NYSE: FIT) , and Snapchat (NYSE: SNAP) . GoPro is a no-go When GoPro first went public back in 2014, the shares surged from around $36 per share to nearly $90 per share before plummeting. The stock has sometimes bounced on its way down, but the trend has been unmistakably downward. GPRO Chart GPRO data by YCharts . This downward trend reflects the company's poor underlying business fundamentals. On Aug. 2, GoPro announced its second-quarter financial results, and they weren't pretty. Revenue was down 5% from a year ago; its gross margin percentage contracted to 30.8%, down from 36.2% a year earlier; and its operating loss widened. This isn't a short-term trend, either. GoPro's revenue, margins, and operating income have all been on the decline for quite some time. GPRO Gross Profit Margin (TTM) Chart GPRO Gross Profit Margin (TTM) data by YCharts . Ultimately, GoPro's business isn't in good shape, and the company's recent financial performance doesn't give a lot of hope that things are getting better. This is a stock that I'd avoid. Fitbit is unfit for my portfolio Fitbit, which went public in 2015, saw its share price peak at close to $50 per share, and has been on the decline ever since. As of writing, the shares closed at $5.83 per share. Fitbit's business has also performed poorly since the company went public. Although the company was profitable and growing when it went public, Fitbit's revenue has been going in the wrong direction and the wearable device specialist is now posting steep losses. Story continues FIT Net Income (TTM) Chart FIT Net Income (TTM) data by YCharts . Last quarter, Fitbit reported some ugly results, as sales dropped 15% thanks to a "20% decline in devices sold, partially offset by an average selling price increase of 6% to $106 per device." The company reported negative free cash flow of $83 million. Looking to the current quarter, management guided to a revenue decline of 3% from the same quarter a year ago as sales of its smartwatches grow and as declines in its tracker revenue moderate. The company also said that it's expecting "free cash flow of approximately negative $30 million in Q3 and net income per share between a $0.02 loss and a $0.01 profit." That outlook is hardly inspiring. Ultimately, Fitbit just doesn't seem like a great business or a business with the potential to be great. Staying away from Snapchat Snapchat, which has been a poor performer year to date is another stock that I'm staying far away from. SNAP Chart SNAP data by YCharts . Unlike Fitbit and GoPro, Snapchat isn't a business in decline. Indeed, analysts expect the company to post 40% revenue growth in 2018 and are betting on another 38.2% growth in the following year. However, there are some troubling issues with Snapchat's business: It's losing money (analysts expect the company to post a loss of $0.55 per share this year) and is likely to continue to lose money for the foreseeable future (analyst consensus is that Snapchat will lose $0.42 per share next year). The stock is extremely expensive: It's trading at nearly 12 times analyst estimates for 2018 revenue and nearly 8.5 times expected 2019 revenue. By contrast, the social media bellwether Facebook (NASDAQ: FB) trades at roughly 8.9 times 2018 analyst revenue estimates and around 7.1 times 2019 estimates. Facebook's growth rates aren't expected to be as high as Snapchat's (36.9% in 2018 and 25.1% in 2019), but unlike Snapchat, Facebook is growing profits. To top it all off, as my Foolish colleague pointed out, management seems to have a credibility problem . There are better social media stocks, let alone other tech stocks, that investors can put their hard-earned money into. I'm steering clear of Snapchat. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Ashraf Eassa has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Facebook, Fitbit, and GoPro. The Motley Fool has a disclosure policy . || Ethereum Creator Believes Days of 1000x Crypto Growth is Gone: According to Vitalik Buterin, the co-creator ofEthereum, the days of 1000x growth as seen in 2017 in the cryptocurrency sector is gone.
Speaking toBloomberg, Buterin emphasized that the awareness of cryptocurrencies and blockchain technology has already achieved its high point in Dec. 2017, when the price of major cryptocurrencies like Bitcoin, Ethereum, Ripple, and Bitcoin Cash demonstrated 10 to 300-fold returns.
“The blockchain space is getting to the point where there’s a ceiling in sight. If you talk to the average educated person at this point, they probably have heard of blockchain at least once. There isn’t an opportunity for yet another 1,000-times growth in anything in the space anymore,” he said.
The speculative bubble of last year has led the vast majority to take interest in cryptocurrencies as an emerging asset class. In the upcoming years, Buterin stated that the industry will focus on improving the usability and accessibility of decentralized systems rather than promotion and gathering interest.
Buterin explained that the strategy of promoting blockchain technology and cryptocurrencies to the broader consumer base is hitting a dead end and that it is time to improve the infrastructure of decentralized systems, applications (dApps), and protocols to encourage consumers to commit to blockchain-based platforms.
“Go from just people being interested to real applications of real economic activity,” he stated, adding “that strategy [promoting the blockchain to the broader consumer base]is getting close to hitting a dead end.”
In the upcoming months and years, to reach true mainstream adoption, developers of dApps will have to ensure that the utilization of decentralized systems is as seamless and efficient as centralized platforms.
For instance, apps like Peepeth, a decentralized alternative to Twitter, which was recentlydiscussed on the Joe Rogan Podcast, require users to send Ether or gas every time a piece of information has to be broadcasted to the Ethereum mainnet.
The simple shift from cash to cryptocurrencies can already be difficult and technically challenging for the majority of people. Then requiring users to utilize MetaMask to process gas on a dApp through the Ethereum mainnet could be highly complicated for most.
As decentralized cryptocurrency exchange Kyber Network CEO Loi Luu previously said, in the near future, dApps will have to improve their user interface to refine and simplify the process of utilizing blockchain-based systems.
“I think it’s because the UI isn’t good enough. The users aren’t familiar with the Decentralized Exchanges; they’re more familiar with Binance or Bittrex. So that’s why we wanted to make it really easy for the user to use. So we don’t focus on the decentralized aspect of it. We focus more on the usability aspect of it,” Luusaid, recognizing that the current UI of decentralized exchanges and dApps is not efficient enough.
On the protocol side, the open-source developer community of Ethereum is working on the implementation of Sharding and Plasma, two solutions that are expected to massively increase the scalability of the Ethereum network.
Other projects like Cardano and Zilliqa are working on proof-of-stake (PoS) and Sharding-related solutions as alternatives to Plasma and Ethereum-based solutions.
Still, the front-end and UI side of dApps and decentralized systems in general need significant improvement, especially if dApps intend to target the consumer base of widely utilized centralized platforms.
Featured Image from TechCrunch/Flickr. Charts fromTradingView.
The postEthereum Creator Believes Days of 1000x Crypto Growth is Goneappeared first onCCN. || Ethereum Creator Believes Days of 1000x Crypto Growth is Gone: According to Vitalik Buterin, the co-creator of Ethereum , the days of 1000x growth as seen in 2017 in the cryptocurrency sector is gone. Speaking to Bloomberg , Buterin emphasized that the awareness of cryptocurrencies and blockchain technology has already achieved its high point in Dec. 2017, when the price of major cryptocurrencies like Bitcoin, Ethereum, Ripple, and Bitcoin Cash demonstrated 10 to 300-fold returns. The blockchain space is getting to the point where theres a ceiling in sight. If you talk to the average educated person at this point, they probably have heard of blockchain at least once. There isnt an opportunity for yet another 1,000-times growth in anything in the space anymore, he said. Moving From Promotion to Real Adoption The speculative bubble of last year has led the vast majority to take interest in cryptocurrencies as an emerging asset class. In the upcoming years, Buterin stated that the industry will focus on improving the usability and accessibility of decentralized systems rather than promotion and gathering interest. Buterin explained that the strategy of promoting blockchain technology and cryptocurrencies to the broader consumer base is hitting a dead end and that it is time to improve the infrastructure of decentralized systems, applications ( dApps ), and protocols to encourage consumers to commit to blockchain-based platforms. Go from just people being interested to real applications of real economic activity, he stated, adding that strategy [promoting the blockchain to the broader consumer base]is getting close to hitting a dead end. ethereum price In the upcoming months and years, to reach true mainstream adoption, developers of dApps will have to ensure that the utilization of decentralized systems is as seamless and efficient as centralized platforms. For instance, apps like Peepeth, a decentralized alternative to Twitter, which was recently discussed on the Joe Rogan Podcast , require users to send Ether or gas every time a piece of information has to be broadcasted to the Ethereum mainnet. Story continues The simple shift from cash to cryptocurrencies can already be difficult and technically challenging for the majority of people. Then requiring users to utilize MetaMask to process gas on a dApp through the Ethereum mainnet could be highly complicated for most. As decentralized cryptocurrency exchange Kyber Network CEO Loi Luu previously said, in the near future, dApps will have to improve their user interface to refine and simplify the process of utilizing blockchain-based systems. I think its because the UI isnt good enough. The users arent familiar with the Decentralized Exchanges; theyre more familiar with Binance or Bittrex. So thats why we wanted to make it really easy for the user to use. So we dont focus on the decentralized aspect of it. We focus more on the usability aspect of it, Luu said , recognizing that the current UI of decentralized exchanges and dApps is not efficient enough. Improvements on Protocol and dApps On the protocol side, the open-source developer community of Ethereum is working on the implementation of Sharding and Plasma, two solutions that are expected to massively increase the scalability of the Ethereum network. Other projects like Cardano and Zilliqa are working on proof-of-stake (PoS) and Sharding-related solutions as alternatives to Plasma and Ethereum-based solutions. Still, the front-end and UI side of dApps and decentralized systems in general need significant improvement, especially if dApps intend to target the consumer base of widely utilized centralized platforms. Featured Image from TechCrunch/Flickr. Charts from TradingView . The post Ethereum Creator Believes Days of 1000x Crypto Growth is Gone appeared first on CCN . || LinkedIn co-founder Reid Hoffman defends Facebook’s response to election meddling: Ask LinkedIn co-founder Reid Hoffman about Facebook ( FB ), in which he was an early investor, and the answer unequivocally remains pro-Facebook. Never mind the controversies that have rocked the social network to its core, including foreign interference around the 2016 U.S. presidential election and the Cambridge Analytica scandal . “Some people argue, well, it [Facebook] wasn’t quite fast enough,” Hoffman, currently a partner at Greylock Partners, told Yahoo Finance in an interview at TechCrunch Disrupt on Thursday. “Well, you would kind of have to foresee that, wow, foreign governments are kind of manipulating the platform. It might have taken a little longer to see them than you’d ideally want to. Who knows [if they] would have been better at that? But they are taking it very seriously right now.” LinkedIn co-founder, Greylock Partners partner, and early Facebook investor Reid Hoffman at TechCrunch Disrupt in San Francisco on Thursday. Adds Hoffman: “I think it’s reasonable to say that when these people were creating businesses, they didn’t realize that foreign governments were going to use them to try to manipulate U.S. elections and other elections.” Prioritizing speed over efficiency Hoffman co-authored the upcoming book, “Blitzscaling: The Lightning-Fast Path to Building Massively Valuable Companies,” which outlines a growth methodology for early-stage startups that prioritizes speed over efficiency. Many of the nine rules for effectively “blitzscaling” sound counterintuitive, including “embrace chaos,” “let fires burn,” even “launch a product that embarrasses you.” The last rule sounds particularly counterintuitive. After all, why release a product you’re not proud of? “If you launch a product that embarrasses you, that’s emphasizing speed,” Hoffman explains. “Get the minimum viable product out. Start getting data. See if you have product market fit in order to be able to accelerate in speed and be learning about it. So the focus isn’t on, ‘Oh, I failed. I wasn’t embarrassed.’ It’s, ‘I failed. I didn’t move fast enough.’ But moving fast means you’re going to do something small. You’re going to do something that kind of embarrasses you as a way of doing it.” Story continues Facebook is one of several companies Hoffman contends in his book “blitzscaled” into profitable, publicly traded companies, joining other tech giants such as Microsoft ( MSFT ), Google ( GOOG , GOOGL ) and Alibaba ( BABA ). But it’s impossible to overlook the social network’s troubles since the 2016 U.S. presidential election and the Cambridge Analytica scandal, which justifiably raised concerns around Facebook over trust and data privacy. As the third most-trafficked website in the world, doesn’t Facebook have a responsibility to help preserve the integrity of political elections, not to mention user data? Facebook COO Sheryl Sandberg’s testimony on Capitol Hill this Wednesday was merely the latest instance of lawmakers taking the social network to task on this front. The Facebook executive’s appearance also arrived amid growing concerns the U.S. isn’t doing enough to shield itself from foreign interference as the congressional midterm elections approach. Yet Hoffman contends Facebook and CEO Mark Zuckerberg have significantly ramped up efforts to combat foreign interference and the spread of misinformation, which include removing fake accounts and upping transparency around advertising. “That’s essentially what blitzscaling companies should do,” Hoffman explains. “As they go through each level, they go, ‘Ok, I’m recomputing. Do I have big risks for my customers? Do I have big risks for my society? Is there little stuff I should do now? Is there big stuff I should do now? Is there big stuff I should do later? That’s actually a part of how they create these companies, and you’re seeing that at Facebook.” ‘Blitzscaling’ gone wrong Another company that made headlines this week, the long-embattled blood testing firm Theranos, announced this week it was finally dissolving . Theranos’s alleged infractions have been covered at length , but chief among them: misrepresenting the abilities of its blood-testing technology, a multimillion-dollar scheme to defraud investors, and exaggerating their revenues by 1,000-fold for 2014. “Well, it [Theranos] definitely blitzscaled a little too far — not even a little too far,” Hoffman concedes, adding that one of Theranos’s two key issues was rolling out technology that was potentially dangerous. It’s one thing to roll out an entertainment app that simply doesn’t work, but it’s another to misrepresent blood-testing tools that could endanger the health of its users. The other key learning area for blitzscaling startups? Don’t misrepresent yourself. “You might say, ‘Hey, we think that we’re really going to be good, and we’re not there yet, but we’re working on it,” Hoffman adds. “OK, fine. Say, ‘We think we’re going to get there.’ Not, ‘Oh, we are there. The blood test works. We have all this revenue.’ Don’t lie.” Holmes and Theranos certainly learned that lesson the hard way. — JP Mangalindan is the Chief Tech Correspondent for Yahoo Finance covering the intersection of tech and business. Email story tips and musings to jpm@oath.com . Follow him on Twitter or Facebook . More from JP: Bitcoin advocate Charlie Shrem: Here’s how long you should hold your crypto Reddit co-founder: Why I’m betting on bitcoin despite its volatility Nvidia CEO: ‘Computer graphics will never be the same again’ Amazon self-published authors: Our books were banned for no reason Pandora CEO: ‘We’re in the early innings of turning things around’ || LinkedIn co-founder Reid Hoffman defends Facebook’s response to election meddling: Ask LinkedIn co-founder Reid Hoffman about Facebook (FB), in which he was an early investor, and the answer unequivocally remains pro-Facebook. Never mind the controversies that have rocked the social network to its core, includingforeign interferencearound the 2016 U.S. presidential election and theCambridge Analytica scandal.
“Some people argue, well, it [Facebook] wasn’t quite fast enough,” Hoffman, currently a partner at Greylock Partners, told Yahoo Finance in an interview atTechCrunch Disrupton Thursday. “Well, you would kind of have to foresee that, wow, foreign governments are kind of manipulating the platform. It might have taken a little longer to see them than you’d ideally want to. Who knows [if they] would have been better at that? But they are taking it very seriously right now.”
Adds Hoffman: “I think it’s reasonable to say that when these people were creating businesses, they didn’t realize that foreign governments were going to use them to try to manipulate U.S. elections and other elections.”
Hoffman co-authored the upcoming book, “Blitzscaling: The Lightning-Fast Path to Building Massively Valuable Companies,” which outlines a growth methodology for early-stage startups that prioritizes speed over efficiency. Many of the nine rules for effectively “blitzscaling” sound counterintuitive, including “embrace chaos,” “let fires burn,” even “launch a product that embarrasses you.” The last rule sounds particularly counterintuitive. After all, why release a product you’re not proud of?
“If you launch a product that embarrasses you, that’s emphasizing speed,” Hoffman explains. “Get the minimum viable product out. Start getting data. See if you have product market fit in order to be able to accelerate in speed and be learning about it. So the focus isn’t on, ‘Oh, I failed. I wasn’t embarrassed.’ It’s, ‘I failed. I didn’t move fast enough.’ But moving fast means you’re going to do something small. You’re going to do something that kind of embarrasses you as a way of doing it.”
Facebook is one of several companies Hoffman contends in his book “blitzscaled” into profitable, publicly traded companies, joining other tech giants such as Microsoft (MSFT), Google (GOOG,GOOGL) and Alibaba (BABA). But it’s impossible to overlook the social network’s troubles since the 2016 U.S. presidential election and the Cambridge Analytica scandal, which justifiably raised concerns around Facebook over trust and data privacy.
As the third most-trafficked website in the world, doesn’t Facebook have a responsibility to help preserve the integrity of political elections, not to mention user data?
Facebook COO Sheryl Sandberg’stestimony on Capitol Hillthis Wednesday was merely the latest instance of lawmakers taking the social network to task on this front. The Facebook executive’s appearance also arrived amid growing concerns the U.S. isn’t doing enough to shield itself from foreign interference as the congressional midterm elections approach.
Yet Hoffman contends Facebook and CEO Mark Zuckerberg have significantly ramped up efforts to combat foreign interference and the spread of misinformation, which include removing fake accounts and upping transparency around advertising.
“That’s essentially what blitzscaling companies should do,” Hoffman explains. “As they go through each level, they go, ‘Ok, I’m recomputing. Do I have big risks for my customers? Do I have big risks for my society? Is there little stuff I should do now? Is there big stuff I should do now? Is there big stuff I should do later? That’s actually a part of how they create these companies, and you’re seeing that at Facebook.”
Another company that made headlines this week, the long-embattled blood testing firm Theranos, announced this week it was finallydissolving. Theranos’s alleged infractionshave been covered at length, but chief among them: misrepresenting the abilities of its blood-testing technology, a multimillion-dollar scheme to defraud investors, andexaggerating their revenues by 1,000-foldfor 2014.
“Well, it [Theranos] definitely blitzscaled a little too far — not even a little too far,” Hoffman concedes, adding that one of Theranos’s two key issues was rolling out technology that was potentially dangerous.
It’s one thing to roll out an entertainment app that simply doesn’t work, but it’s another to misrepresent blood-testing tools that could endanger the health of its users.
The other key learning area for blitzscaling startups? Don’t misrepresent yourself.
“You might say, ‘Hey, we think that we’re really going to be good, and we’re not there yet, but we’re working on it,” Hoffman adds. “OK, fine. Say, ‘We think we’re going to get there.’ Not, ‘Oh, we are there. The blood test works. We have all this revenue.’ Don’t lie.”
Holmes and Theranos certainly learned that lesson the hard way.
—
JP Mangalindan is the Chief Tech Correspondent for Yahoo Finance covering the intersection of tech and business. Email story tips and musings tojpm@oath.com. Follow him onTwitterorFacebook.
More from JP:
• Bitcoin advocate Charlie Shrem: Here’s how long you should hold your crypto
• Reddit co-founder: Why I’m betting on bitcoin despite its volatility
• Nvidia CEO: ‘Computer graphics will never be the same again’
• Amazon self-published authors: Our books were banned for no reason
• Pandora CEO: ‘We’re in the early innings of turning things around’ || Bitcoin Price Surges From $6,190 to $6,450 in Seconds, What’s Next For BTC?: In seconds, the Bitcoin price has surged from $6,190 to $6,450, by more than 4 percent, after the dominant cryptocurrency remained in the low $6,100 region for more than 24 hours.
The sudden increase in the price of Bitcoin on September 9 was not expected by the majority of analysts and investors in the cryptocurrency market, primarily due to the sheer magnitude of its drop on September 5
In previous market recaps, CCN consistently cited the statement of ShapeShift CEO Erik Voorhees, simply because it accurately summarizes the movement of the cryptocurrency market.
On August 25, on CNBC Crypto Trader, Voorheessaid:
“I don’t expect it (bear market) to end soon, although I do think that the rate of collapse has slowed considerably. Generally in these bubbles, after you go through several months of a downtrend you hang out in a range for a while… But I think we are done with a majority of the collapse.”
Investors in the cryptocurrency market, especially those that have allocated a significant portion of their holdings into the market, need to consider the fact that cryptocurrencies as an asset class is still at its infancy.
There exists a limited range of institutional products, publicly tradable instruments, and a lack of liquidity that leaves the market generally vulnerable to extreme daily volatility and manipulation.
Over the past seven months, Bitcoin has shown high volatility in the $6,000 to $10,000 region. In April, June, and August, Bitcoin tanked to $6,000 and recovered to resistance levels found at $10,000, $8,000 and $7,000.
Today, on September 9, the price of Bitcoin surged 4 percent from $6,190 to $6,450 within 30 seconds. The dominant cryptocurrency in the global market is vulnerable to major fluctuations and as such, investors should expect 5 to 20 percent drops or surges in value on a daily basis.
The commentary of Voorhees on the bear market of 2018 is important to acknowledge because it is evident that the cryptocurrency market is still on a clear downtrend. But, given the unpredictability of cryptocurrencies, it is difficult to spot the exact bottom.
A viable opportunity for new investors to come into the market would be in the stabilization and bottoming out process, during which BTC shows high stability in the low $5,000 to $6,000 region.
BTC has not fully recovered from the $6,000 support level which it tested three times in the past six months. A proper recovery from the $6,000 region would lead to the initiation of a mid-term rally.
But, the gap between $6,000 and the monthly peak has decreased every time a correction has occurred since February, suggesting that Bitcoin is gradually bottoming out in the $6,000 region.
The abrupt corrective rally of BTC triggered by a strong oversold condition demonstrated in the low $6,100 range could enable Bitcoin to find stability in mid-$6,000, which would be benficial for the short-term recovery of the market from a major drop on September 5.
Featured image from Shutterstock. Charts fromTradingView.
The postBitcoin Price Surges From $6,190 to $6,450 in Seconds, What’s Next For BTC?appeared first onCCN. || Bitcoin Price Surges From $6,190 to $6,450 in Seconds, What’s Next For BTC?: In seconds, the Bitcoin price has surged from $6,190 to $6,450, by more than 4 percent, after the dominant cryptocurrency remained in the low $6,100 region for more than 24 hours.
The sudden increase in the price of Bitcoin on September 9 was not expected by the majority of analysts and investors in the cryptocurrency market, primarily due to the sheer magnitude of its drop on September 5
In previous market recaps, CCN consistently cited the statement of ShapeShift CEO Erik Voorhees, simply because it accurately summarizes the movement of the cryptocurrency market.
On August 25, on CNBC Crypto Trader, Voorheessaid:
“I don’t expect it (bear market) to end soon, although I do think that the rate of collapse has slowed considerably. Generally in these bubbles, after you go through several months of a downtrend you hang out in a range for a while… But I think we are done with a majority of the collapse.”
Investors in the cryptocurrency market, especially those that have allocated a significant portion of their holdings into the market, need to consider the fact that cryptocurrencies as an asset class is still at its infancy.
There exists a limited range of institutional products, publicly tradable instruments, and a lack of liquidity that leaves the market generally vulnerable to extreme daily volatility and manipulation.
Over the past seven months, Bitcoin has shown high volatility in the $6,000 to $10,000 region. In April, June, and August, Bitcoin tanked to $6,000 and recovered to resistance levels found at $10,000, $8,000 and $7,000.
Today, on September 9, the price of Bitcoin surged 4 percent from $6,190 to $6,450 within 30 seconds. The dominant cryptocurrency in the global market is vulnerable to major fluctuations and as such, investors should expect 5 to 20 percent drops or surges in value on a daily basis.
The commentary of Voorhees on the bear market of 2018 is important to acknowledge because it is evident that the cryptocurrency market is still on a clear downtrend. But, given the unpredictability of cryptocurrencies, it is difficult to spot the exact bottom.
A viable opportunity for new investors to come into the market would be in the stabilization and bottoming out process, during which BTC shows high stability in the low $5,000 to $6,000 region.
BTC has not fully recovered from the $6,000 support level which it tested three times in the past six months. A proper recovery from the $6,000 region would lead to the initiation of a mid-term rally.
But, the gap between $6,000 and the monthly peak has decreased every time a correction has occurred since February, suggesting that Bitcoin is gradually bottoming out in the $6,000 region.
The abrupt corrective rally of BTC triggered by a strong oversold condition demonstrated in the low $6,100 range could enable Bitcoin to find stability in mid-$6,000, which would be benficial for the short-term recovery of the market from a major drop on September 5.
Featured image from Shutterstock. Charts fromTradingView.
The postBitcoin Price Surges From $6,190 to $6,450 in Seconds, What’s Next For BTC?appeared first onCCN. || Bitcoin Price Surges From $6,190 to $6,450 in Seconds, Whats Next For BTC?: bitcoin price In seconds, the Bitcoin price has surged from $6,190 to $6,450, by more than 4 percent, after the dominant cryptocurrency remained in the low $6,100 region for more than 24 hours. The sudden increase in the price of Bitcoin on September 9 was not expected by the majority of analysts and investors in the cryptocurrency market, primarily due to the sheer magnitude of its drop on September 5 Erik Voorhees Comment is Spot on In previous market recaps, CCN consistently cited the statement of ShapeShift CEO Erik Voorhees, simply because it accurately summarizes the movement of the cryptocurrency market. On August 25, on CNBC Crypto Trader, Voorhees said : I dont expect it (bear market) to end soon, although I do think that the rate of collapse has slowed considerably. Generally in these bubbles, after you go through several months of a downtrend you hang out in a range for a while
But I think we are done with a majority of the collapse. Investors in the cryptocurrency market, especially those that have allocated a significant portion of their holdings into the market, need to consider the fact that cryptocurrencies as an asset class is still at its infancy. There exists a limited range of institutional products, publicly tradable instruments, and a lack of liquidity that leaves the market generally vulnerable to extreme daily volatility and manipulation. Over the past seven months, Bitcoin has shown high volatility in the $6,000 to $10,000 region. In April, June, and August, Bitcoin tanked to $6,000 and recovered to resistance levels found at $10,000, $8,000 and $7,000. Today, on September 9, the price of Bitcoin surged 4 percent from $6,190 to $6,450 within 30 seconds. The dominant cryptocurrency in the global market is vulnerable to major fluctuations and as such, investors should expect 5 to 20 percent drops or surges in value on a daily basis. The commentary of Voorhees on the bear market of 2018 is important to acknowledge because it is evident that the cryptocurrency market is still on a clear downtrend. But, given the unpredictability of cryptocurrencies, it is difficult to spot the exact bottom. Story continues A viable opportunity for new investors to come into the market would be in the stabilization and bottoming out process, during which BTC shows high stability in the low $5,000 to $6,000 region. BTC has not fully recovered from the $6,000 support level which it tested three times in the past six months. A proper recovery from the $6,000 region would lead to the initiation of a mid-term rally. But, the gap between $6,000 and the monthly peak has decreased every time a correction has occurred since February, suggesting that Bitcoin is gradually bottoming out in the $6,000 region. Where Bitcoin Goes Next The abrupt corrective rally of BTC triggered by a strong oversold condition demonstrated in the low $6,100 range could enable Bitcoin to find stability in mid-$6,000, which would be benficial for the short-term recovery of the market from a major drop on September 5. Featured image from Shutterstock. Charts from TradingView . The post Bitcoin Price Surges From $6,190 to $6,450 in Seconds, Whats Next For BTC? appeared first on CCN . || Bitcoin – Bears Eye sub-$6,000 Levels as Bulls Try to Steady the Ship: Bitcoin slid by 3.32% on Saturday, following a 1.78% fall on Friday, to end the day at $6,184.9.
A 4thconsecutive day in the red and 5 losses in 6 days left Bitcoin down 15.3% for the current week, with Bitcoin and the broader market unable to shake off a run of negative news hitting the wires last week.
A positive start to the day saw Bitcoin move through to a late morning intraday high $6,475.5 before easing back, Bitcoin falling well short of the day’s first major resistance level at $6,525, with the prospect of EU specific rules and regulations for the cryptomarket weighing ahead of next week’s EU Finance Minister gathering.
Tracking the broader market, a late afternoon sell-off saw Bitcoin slide through the day’s first major support level at $6,298.5 and second major support level at $6,197.3 to an intraday low $6,119.5 before steadying, the day’s reversal reaffirming the extended bearish trend formed at early May’s swing hi $9,999.
While Bitcoin managed to avoid a slide back to sub-$6,000 levels, last hit back on 14thAugust, the failure to recover back through the day’s first and second major support levels by the day’s end suggests more pain to come for Bitcoin and the broader market, with the bullish talk of $20,000 coming to an abrupt.
The reversal across the broader market has seen Bitcoin’s dominance rise to 56%, its highest level of the year, reflective of the bearish sentiment across the broader market, with the cryptomarket’s total market capitalization now sitting at $191.35bn, its lowest level since November of last year.
Get Into Cryptocurrency Trading Today
At the time of writing, Bitcoin was down 0.15% to $6,175.5, Bitcoin moving through to $6,200 levels, with a morning high $6,208.4 before pulling back to a morning low $6,140.5, the moves through the early part of the day leaving the day’s major support and resistance levels untested.
For the day ahead, a move back through the morning high $6,208.4 to $6,250 would raise the prospects of a late weekend relief rally to bring $6,300 levels into play, while Bitcoin will likely struggle to take a run at the day’s first major resistance level at $6,400, barring particularly positive news hitting the wires.
Failure to move back through to $6,200 levels and take a run at $6,300 levels through the late morning could see Bitcoin take a bigger hit later in the day, with a fall back through the morning low $6,140.5 bringing the day’s first major support level at $6,044.43 and sub-$6,000 levels into play.
A move back through to $6,200 levels and hold this morning will be key for Bitcoin and the broader market, any fall back towards the early morning low likely to lead to another day of heavy losses, investors having very little incentive to come off the side lines with Bitcoin and the broader market facing so much regulatory uncertainty.
For an asset class created to free the world from the grip of governments, central banks and financial institutions, the very same have ultimately contributed to Bitcoin and the broader market’s slide from all-time highs and there may be more to come.
Thisarticlewas originally posted on FX Empire
• Bitcoin Cash, Litecoin and Ripple Daily Analysis – 09/09/18
• Bitcoin – Bears Eye sub-$6,000 Levels as Bulls Try to Steady the Ship
• GBP/JPY Weekly Price Forecast – British pound choppy against yen for the week
• Crude Oil Price Forecast – crude oil markets continue to look soft
• S&P 500 Price Forecast – US stock markets rally after jobs number
• Gold Weekly Price Forecast – Gold markets however above major support || Bitcoin – Bears Eye sub-$6,000 Levels as Bulls Try to Steady the Ship: Bitcoin slid by 3.32% on Saturday, following a 1.78% fall on Friday, to end the day at $6,184.9.
A 4thconsecutive day in the red and 5 losses in 6 days left Bitcoin down 15.3% for the current week, with Bitcoin and the broader market unable to shake off a run of negative news hitting the wires last week.
A positive start to the day saw Bitcoin move through to a late morning intraday high $6,475.5 before easing back, Bitcoin falling well short of the day’s first major resistance level at $6,525, with the prospect of EU specific rules and regulations for the cryptomarket weighing ahead of next week’s EU Finance Minister gathering.
Tracking the broader market, a late afternoon sell-off saw Bitcoin slide through the day’s first major support level at $6,298.5 and second major support level at $6,197.3 to an intraday low $6,119.5 before steadying, the day’s reversal reaffirming the extended bearish trend formed at early May’s swing hi $9,999.
While Bitcoin managed to avoid a slide back to sub-$6,000 levels, last hit back on 14thAugust, the failure to recover back through the day’s first and second major support levels by the day’s end suggests more pain to come for Bitcoin and the broader market, with the bullish talk of $20,000 coming to an abrupt.
The reversal across the broader market has seen Bitcoin’s dominance rise to 56%, its highest level of the year, reflective of the bearish sentiment across the broader market, with the cryptomarket’s total market capitalization now sitting at $191.35bn, its lowest level since November of last year.
Get Into Cryptocurrency Trading Today
At the time of writing, Bitcoin was down 0.15% to $6,175.5, Bitcoin moving through to $6,200 levels, with a morning high $6,208.4 before pulling back to a morning low $6,140.5, the moves through the early part of the day leaving the day’s major support and resistance levels untested.
For the day ahead, a move back through the morning high $6,208.4 to $6,250 would raise the prospects of a late weekend relief rally to bring $6,300 levels into play, while Bitcoin will likely struggle to take a run at the day’s first major resistance level at $6,400, barring particularly positive news hitting the wires.
Failure to move back through to $6,200 levels and take a run at $6,300 levels through the late morning could see Bitcoin take a bigger hit later in the day, with a fall back through the morning low $6,140.5 bringing the day’s first major support level at $6,044.43 and sub-$6,000 levels into play.
A move back through to $6,200 levels and hold this morning will be key for Bitcoin and the broader market, any fall back towards the early morning low likely to lead to another day of heavy losses, investors having very little incentive to come off the side lines with Bitcoin and the broader market facing so much regulatory uncertainty.
For an asset class created to free the world from the grip of governments, central banks and financial institutions, the very same have ultimately contributed to Bitcoin and the broader market’s slide from all-time highs and there may be more to come.
Thisarticlewas originally posted on FX Empire
• Bitcoin Cash, Litecoin and Ripple Daily Analysis – 09/09/18
• Bitcoin – Bears Eye sub-$6,000 Levels as Bulls Try to Steady the Ship
• GBP/JPY Weekly Price Forecast – British pound choppy against yen for the week
• Crude Oil Price Forecast – crude oil markets continue to look soft
• S&P 500 Price Forecast – US stock markets rally after jobs number
• Gold Weekly Price Forecast – Gold markets however above major support || Bitcoin Cash, Litecoin and Ripple Daily Analysis – 09/09/18: Bitcoin Cash fell by 4.79% on Saturday, following Friday’s 4.42% decline, to end the day at $473.3, the latest slide making it 6 consecutive days in the red.
A range bound first half of the day saw Bitcoin Cash fall well short of the day’s first major resistance level at $519.83, with an intraday high $506.6 before taking a hit in the late afternoon. Bitcoin Cash fell through the day’s first major support level at $483.23 and second major support level at $469.37 to an intraday low and new swing lo $463 before a partial recovery late in the day.
At the time of writing, Bitcoin Cash was down 2.04% to $464, with support late in the day on Saturday unable to fend off the continued reversal in the early hours. Falling from a start of a day morning high $473.7, Bitcoin Cash fell to a morning low $463, matching Saturday’s new swing lo before steadying.
For the day ahead, a move back through the morning high $473.7 to $480 levels would support a run at the day’s first major resistance level at $498.93 to bring $500 levels into play, though sentiment across the broader market towards next week’s EU gathering will need to materially shift for any recovery later in the day.
Failure to move back through the morning high to $480 levels could see Bitcoin Cash take a bigger hit later in the day, with a fall back through the morning low $463 bringing the day’s first major support level at $455.33 into play. A continued sell-off would bring sub-$450 levels into play, the bears in full control ahead of the EU gathering that has cryptos high on the agenda.
Litecoin slid by 4.25% on Saturday, following Friday’s 3.36% fall, to end the day at $53.2, the day’s decline a 5thday in the red for the current week.
Upward momentum through the first half of the day saw Litecoin move through to a late morning intraday high $57.28, falling short of the day’s first major resistance level at $57.98, before a broad based market sell-off. Litecoin slid through the day’s first major support level at $54.06 and second major support level at $52.58 to an intraday low $51.77 before moving back through to $53 levels.
At the time of writing, Litecoin was down 1.48% to $52.41. Tracking the broader market, Litecoin slipped from a start of a day morning high $53.25 to a morning low $52.17 before steadying, the moves through the early morning leaving the day’s major support and resistance levels untested.
For the day ahead, a move back through the morning high $53.25 to $54 levels would support a run at $55 levels, while the day’s first major resistance level at $56.4 will likely remain untested, market sentiment likely to see Litecoin struggle to break out from $55 levels in the event of a reversal of the morning’s losses.
Failure to move through to $54 levels could see Litecoin take heavier losses later in the day, with a fall back through the morning low $52.17 bringing the day’s first major support level at $50.89 into play, with sub-$50 levels a target for the crypto bears.
Ripple’s XRP fell by 3.58% on Saturday, following Friday’s 4.87% slide, to end the day at $0.27677, the day’s pullback marking a 6thconsecutive day in the red.
Tracking the broader market, Ripple’s XRP moved through to a late morning intraday high $0.29396 before getting hit by the broad based market sell-off in the late afternoon, the day’s high falling short of the first major resistance level at $0.3006.
The late afternoon sell-off saw Ripple’s XRP fall through the day’s first major support level at $0.2771 to an intraday low $0.27249 before finding support, while unable to move back through the first major support level by the day’s end.
At the time of writing, Ripple’s XRP was down 1.55% to $0.27250. Bucking the trend across the broader market, Ripple’s XRP moved through to an early morning high $0.278 before hitting reverse, the broad based market sell-off seeing Ripple’s XRP fall to a morning low $0.27075 before steadying.
For the day ahead, a move back through the morning high $0.278 to $0.28 levels would support a run at the day’s first major resistance level at $0.2897, though a move through to $0.28 levels would be needed in the first half of the day to support some upside later in the day.
Failure to move through to $0.28 levels could see Ripple’s XRP fall deeper into the red, with the day’s first major support level at $0.2682 and sub-$0.25 levels in play later in the day.
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Thisarticlewas originally posted on FX Empire
• Bitcoin – Bears Eye sub-$6,000 Levels as Bulls Try to Steady the Ship
• Crude Oil Weekly Price Forecast – oil markets sell off drastically during the week
• S&P 500 Price Forecast – US stock markets rally after jobs number
• AUD/USD Weekly Price Forecast – Australian dollar chisels away at support
• The Week Ahead – Trade, the ECB, the BoE and the CBT in Focus
• Natural Gas Price Forecast – natural gas markets grind lower during Friday session
[Social Media Buzz]
2018-09-10 14:00:02 UTC
BTC: $6317.47
BCH: $473.91
ETH: $194.89
ZEC: $118.77
LTC: $54.49
ETC: $11.2
XRP: $0.2714 || #LIZA #LAMBO price
09-11 00:00(GMT)
$LIZA
BTC :0.00000
ETH :0.00015
USD :0.0
RUR :2.1
JPY(btc) :3.2
JPY(eth) :3.3
$LAMBO
BTC :0.054
ETH :2.000
USD :333.0
RUR :21004.0
JPY(btc) :38086.3
JPY(eth) :43500.0 || Top #Losers #Botswana #imlToday 10Sep $BSE.bw
BTC | $BTCL.bw - ▼ -1.01% | Thebe98.00 | ▼ Thebe-1.00
Barclays | $BARC.bw - ▼ -0.18% | Thebe545.00 | ▼ Thebe-1.00
http://zpr.io...
|
6321.20, 6351.80, 6517.31, 6512.71, 6543.20, 6517.18, 6281.20, 6371.30, 6398.54, 6519.67
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Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 57828.05, 56631.08, 57200.29, 53333.54, 57424.01, 56396.52, 57356.40, 58803.78, 58232.32, 55859.80, 56704.57, 49150.54, 49716.19, 49880.54, 46760.19, 46456.06, 43537.51, 42909.40, 37002.44, 40782.74, 37304.69, 37536.63, 34770.58, 38705.98, 38402.22, 39294.20, 38436.97, 35697.61, 34616.07, 35678.13, 37332.86, 36684.93, 37575.18, 39208.77, 36894.41, 35551.96, 35862.38, 33560.71, 33472.63, 37345.12, 36702.60, 37334.40, 35552.52, 39097.86, 40218.48, 40406.27, 38347.06, 38053.50, 35787.25, 35615.87, 35698.30, 31676.69, 32505.66, 33723.03, 34662.44, 31637.78, 32186.28, 34649.64, 34434.34, 35867.78, 35040.84, 33572.12, 33897.05, 34668.55, 35287.78, 33746.00, 34235.20, 33855.33, 32877.37, 33798.01, 33520.52, 34240.19, 33155.85, 32702.03, 32822.35, 31780.73, 31421.54, 31533.07, 31796.81, 30817.83, 29807.35, 32110.69, 32313.11, 33581.55, 34292.45, 35350.19, 37337.54, 39406.94, 39995.91, 40008.42.
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[Bitcoin Technical Analysis for 2021-07-29]
Volume: 27167146027, RSI (14-day): 70.55, 50-day EMA: 35750.50, 200-day EMA: 38560.63
[Wider Market Context]
Gold Price: 1831.20, Gold RSI: 60.12
Oil Price: 73.62, Oil RSI: 56.59
[Recent News (last 7 days)]
Meagre savings rates push Brits to hunt harder for returns: The Bank of England has held interest rates at historic lows throughout the pandemic. Photo: Getty (Alexander Spatari via Getty Images) In search of a return on their investments, Brits are heading to the stock market and more esoteric places to get returns on their cash. As the Bank of England has held interest rates at a record low of 0.1% throughout the pandemic, and inflation has hit 2.5%, to avoid the value of their money depleting people are investing in crypto, collectables and the real estate market in the hope of cashing out. Data given exclusively to Yahoo Finance UK from NexGen Cloud showed that 43% of UK investors are now more likely to consider alternative investments because of record low interest rates. From a sample of 889 investors, all of whom have portfolios in excess of £10,000, not including any primary property, savings, pensions or SIPPs, the analysis found a fifth of current portfolios are weighted more towards alternative investments than traditional assets. 23% said alternative investments will form a key part of their financial strategy in the coming 12 months. Real estate is the most common alternative investment among this crop of UK investors – 17% hold real estate investments at present, with a further 19% considering investment into this asset over the next year. Cryptocurrencies and collectibles were joint second on the list of the most popular alternative investments (both had backing from 14% of investors). Elsewhere, NexGen Cloud’s research found that 8% of UK investors have invested in cloud computing infrastructure or data mining, with 18% considering this sector as an area for investment in the year ahead. Watch: What are negative interest rates? Chris Starkey, founder and director, NexGen Cloud , said: “Over the past 18 months, the financial markets have been subject to intense volatility, which combined with record low interest rates, is evidently leading investors to diversify into new areas beyond mainstream assets. “Investors have never had so much choice of how and where to invest their money. Our research shows that many are now embracing the possibilities by finding investments within their areas of expertise or industries they are passionate about.” Story continues Read more: Bitcoin returns to $40,000 mark as Binance caps withdrawals and leverage A separate analysis showed, from Google Play Store data, that the top 10 UK investments apps have gained an estimated 1.6 million more users since March 2020. These included traditional investment choices such as Hargreaves Lansdown as well as fintechs Plum, Nutmeg and Wealthify. Plum saw 382,000 new users - a 80% increase. Freetrade was close behind with 319,500 new customers via the Play Store. App Radar’s analysis also revealed that the growth shows no sign of slowing with 140,000 new users added in May 2021 alone. The growth in the UK tracks a general global surge in the investment app market with Robinhood and eToro leading the way with an estimated 8.2 million and 6.5 million new app users respectively. “We are seeing a seismic shift in how people manage their money in the UK. Gone are the days where investing was for a select wealthy few," said Thomas Kriebernegg, CEO & co-founder, App Radar. "Now, because fintech companies have significantly lowered the bar to entry, more and more people are taking direct control of their finances." Watch: What are the risks of investing in cryptocurrencies? || Meagre savings rates push Brits to hunt harder for returns: In search of a return on their investments, Brits are heading to the stock market and more esoteric places to get returns on their cash.
As the Bank of England has held interest rates at a record low of 0.1% throughout the pandemic, and inflation has hit 2.5%, to avoid the value of their money depleting people are investing in crypto, collectables and the real estate market in the hope of cashing out.
Data given exclusively to Yahoo Finance UK from NexGen Cloud showed that 43% of UK investors are now more likely to consider alternative investments because of record low interest rates.
From a sample of 889 investors, all of whom have portfolios in excess of £10,000, not including any primary property, savings, pensions or SIPPs, the analysis found a fifth of current portfolios are weighted more towards alternative investments than traditional assets.
23% said alternative investments will form a key part of their financial strategy in the coming 12 months.
Real estate is the most common alternative investment among this crop of UK investors – 17% hold real estate investments at present, with a further 19% considering investment into this asset over the next year.
Cryptocurrencies and collectibles were joint second on the list of the most popular alternative investments (both had backing from 14% of investors).
Elsewhere, NexGen Cloud’s research found that 8% of UK investors have invested in cloud computing infrastructure or data mining, with 18% considering this sector as an area for investment in the year ahead.
Watch: What are negative interest rates?
Chris Starkey, founder and director,NexGen Cloud, said: “Over the past 18 months, the financial markets have been subject to intense volatility, which combined with record low interest rates, is evidently leading investors to diversify into new areas beyond mainstream assets.
“Investors have never had so much choice of how and where to invest their money. Our research shows that many are now embracing the possibilities by finding investments within their areas of expertise or industries they are passionate about.”
Read more:Bitcoin returns to $40,000 mark as Binance caps withdrawals and leverage
A separate analysis showed, from Google Play Store data, that the top 10 UK investments apps have gained an estimated 1.6 million more users since March 2020.
These included traditional investment choices such as Hargreaves Lansdown as well as fintechs Plum, Nutmeg and Wealthify.
Plum saw 382,000 new users - a 80% increase. Freetrade was close behind with 319,500 new customers via the Play Store.
App Radar’s analysis also revealed that the growth shows no sign of slowing with 140,000 new users added in May 2021 alone.
The growth in the UK tracks a general global surge in the investment app market with Robinhood and eToro leading the way with an estimated 8.2 million and 6.5 million new app users respectively.
“We are seeing a seismic shift in how people manage their money in the UK. Gone are the days where investing was for a select wealthy few," said Thomas Kriebernegg, CEO & co-founder, App Radar.
"Now, because fintech companies have significantly lowered the bar to entry, more and more people are taking direct control of their finances."
Watch: What are the risks of investing in cryptocurrencies? || Today’s Market Wrap Up and a Glimpse Into Thursday: Stocks finished the day mixed after the Fed revealed that the economy is on track for employment and inflation. TheDow Jones Industrial AverageandS&P 500were each down fractionally, while the tech-heavyNasdaqadded 100 points to end modestly higher.
As the economy continues on the path to recovery, the Fed tipped its hand, saying it would begin to pull back from its asset purchasing activity. The major indices still remain close to all-time high levels.
One winner in the Dow wasBoeing, which surprised Wall Street by swinging to a profit for the first time almost in two years.
The tech earnings parade rolled on, withFacebooktaking the spotlight today. Mark Zuckerberg’s company sees 3.51 billion people flock to its platforms, including Facebook, Instagram, Messenger and Whatsapp, each month, up 12% YoY.
Facebook’sQ2 revenuecame in at USD 29.08 billion, continuing a trend that Google, Microsoft and Apple similarly experienced in the quarter. While Facebook’s Q2 results topped Wall Street’s estimates, revenue growth is not expected to be sustained at these levels, the company warned.
PayPalbucked the positive trend in corporate America after its Q2 results disappointed. Worse, the payments company isn’t expecting things to get much better for Q3. Investors punished the stock in extended hours, sending shares lower by about 6%.
Fordshares found a reason to rally thanks to a stronger than expected Q2 in which the company was profitable. The automaker lifted its Q3 forecast on the heels of robust demand for its Ford Bronco SUV.
Shares of cannabis companyTilrayclimbed more than 25% in the wake of a profitable fiscal Q4. Tilray CEO Irwin Simon sees a world in which marijuana will become legalized at the federal level in the U.S. in the next 18-24 months.
On Thursday, an advance look at GDP comes out at 8:30 a.m. ET. Wells Fargo economists predict that the economy grew at an annualized pace of 9.1% in the quarter. The economy has come a long way since last year’s pandemic-fueled contraction, which lasted for two months. The economists forecast that consumer spending and business investments were strong in Q2, while supply chain constraints persisted.
Amazon’searnings come out on Thursday. Bitcoin investors might be listening to the call to hear if the company addresses the recent crypto-related drama.
Thisarticlewas originally posted on FX Empire
• EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – July 29th, 2021
• Crude Oil Price Update – Starting to Strengthen on Bullish Side of $71.85 to $70.54 Retracement Zone
• Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – July 29th, 2021
• E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis – Needs to Hold 14954.00 to Sustain Upside Momentum
• Economic Data from the Eurozone and the U.S Put the EUR and the Dollar in the Spotlight
• NZD/USD Forex Technical Analysis – Powell Fuels Reversal; Main Trend Changes to Up on Trade Through .7010 || Today’s Market Wrap Up and a Glimpse Into Thursday: Stocks finished the day mixed after the Fed revealed that the economy is on track for employment and inflation. The Dow Jones Industrial Average and S&P 500 were each down fractionally, while the tech-heavy Nasdaq added 100 points to end modestly higher. As the economy continues on the path to recovery, the Fed tipped its hand, saying it would begin to pull back from its asset purchasing activity. The major indices still remain close to all-time high levels. One winner in the Dow was Boeing , which surprised Wall Street by swinging to a profit for the first time almost in two years. Stocks to Watch The tech earnings parade rolled on, with Facebook taking the spotlight today. Mark Zuckerberg’s company sees 3.51 billion people flock to its platforms, including Facebook, Instagram, Messenger and Whatsapp, each month, up 12% YoY. Facebook’s Q2 revenue came in at USD 29.08 billion, continuing a trend that Google, Microsoft and Apple similarly experienced in the quarter. While Facebook’s Q2 results topped Wall Street’s estimates, revenue growth is not expected to be sustained at these levels, the company warned. PayPal bucked the positive trend in corporate America after its Q2 results disappointed. Worse, the payments company isn’t expecting things to get much better for Q3. Investors punished the stock in extended hours, sending shares lower by about 6%. Ford shares found a reason to rally thanks to a stronger than expected Q2 in which the company was profitable. The automaker lifted its Q3 forecast on the heels of robust demand for its Ford Bronco SUV. Shares of cannabis company Tilray climbed more than 25% in the wake of a profitable fiscal Q4. Tilray CEO Irwin Simon sees a world in which marijuana will become legalized at the federal level in the U.S. in the next 18-24 months. Look Ahead On Thursday, an advance look at GDP comes out at 8:30 a.m. ET. Wells Fargo economists predict that the economy grew at an annualized pace of 9.1% in the quarter. The economy has come a long way since last year’s pandemic-fueled contraction, which lasted for two months. The economists forecast that consumer spending and business investments were strong in Q2, while supply chain constraints persisted. Story continues Amazon’s earnings come out on Thursday. Bitcoin investors might be listening to the call to hear if the company addresses the recent crypto-related drama. This article was originally posted on FX Empire More From FXEMPIRE: EOS, Stellar’s Lumen, and Tron’s TRX – Daily Analysis – July 29th, 2021 Crude Oil Price Update – Starting to Strengthen on Bullish Side of $71.85 to $70.54 Retracement Zone Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – July 29th, 2021 E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis – Needs to Hold 14954.00 to Sustain Upside Momentum Economic Data from the Eurozone and the U.S Put the EUR and the Dollar in the Spotlight NZD/USD Forex Technical Analysis – Powell Fuels Reversal; Main Trend Changes to Up on Trade Through .7010 || GLOBAL MARKETS-US dollar, stocks dip as Fed keeps taper timing close to chest: * Dow falls 0.4%, S&P flat, Nasdaq rebounds 0.7% * European stocks boosted by upbeat earnings * China blue-chip index closes up 0.2% * Yuan edges back from three-month lows * Dollar softens By Koh Gui Qing NEW YORK, July 28 (Reuters) - U.S. stocks and the dollar slipped on Wednesday in listless trade after the Federal Reserve gave no clue about when it might start reducing its purchases of government bonds, even as it said the economic recovery is on track. The Fed said after its latest policy meeting ended on Wednesday that the economy has been strengthening despite a rise in coronavirus infections, and that accelerating inflation remained the result of "transitory factors." At a news conference, Fed Chairman Jerome Powell said it was not yet time to think about raising interest rates, and that while the Fed has begun discussing plans to taper its bond purchases, the exact timing will depend on incoming data. "It was a relief that there was no talk of tapering quite yet," said Ryan Detrick, a senior market strategist at LPL Financial in North Carolina. "Our view is the Fed will likely announce when tapering will start at Jackson Hole later in August." The Dow Jones Industrial Average fell 0.36%, the S&P 500 was flat, while the tech-focused Nasdaq Composite rebounded 0.7% after hitting its lowest in more than two months on Tuesday. Any sign the Fed may tighten policy sooner than expected could unnerve markets, since its loose policy has flushed the market with cash and pushed Wall Street to record highs. Also, some investors worry the fast-spreading Delta coronavirus variant may scupper economic growth, and hope the Fed will stand pat for now. The lack of a clear taper timeline, while expected, dragged on the dollar nonetheless. The U.S. currency had a month-long rally as investors bet a strengthening economy would spark a Fed move to taper to quell inflation pressures. The dollar index fell 0.24%, and a weaker dollar boosted the euro up 0.28% to $1.185. Story continues Treasury yields initially climbed after the Fed meeting, but pulled back later. The yield on 10-year Treasury notes was down 0.3 basis points to 1.231%, and the yield on 10-year Treasury Inflation-Protected Securities climbed as high as -0.917%, before pulling back to -1.171%. The Fed meeting aside, investor risk appetite also got a boost from signs that China's stock market might finally be steadying, after being hammered this week by concerns of a widening regulatory crackdown. Following two sessions of falls, the pan-European STOXX 600 index rose 0.66% and MSCI's gauge of stocks across the globe gained 0.38%. Chinese blue chips closed up 0.2% overnight, and Hong Kong's benchmark jumped 1.5%, but remained near nine-month lows. The Chinese yuan also edged back from three-month lows. On Tuesday, it had its biggest daily decline since October. The offshore Chinese yuan strengthened versus the greenback at 6.4894 per dollar. Cryptocurrency Bitcoin also bounced back above $40,000, jumping 2.4% to $40,428.38. Firmer risk appetites did not dent demand for safe-haven gold, which held steady near $1,800. Spot gold added 0.2% to $1,802.81 an ounce. U.S. gold futures gained 0.06% to $1,800.80 an ounce. Oil prices received a fillip after data showed U.S. crude inventories fell more sharply than analysts had forecast, overshadowing worries that a resurgent pandemic might hit demand. U.S. crude added 0.8% to $72.25 per barrel and Brent climbed 0.17% to $74.61. (Reporting by Koh Gui Qing in New York, Tom Arnold in London and Alun John in Hong Kong; Additional reporting by Sujata Rao; Editing by David Gregorio and Alistair Bell) || GLOBAL MARKETS-US dollar, stocks dip as Fed keeps taper timing close to chest: * Dow falls 0.4%, S&P flat, Nasdaq rebounds 0.7%
* European stocks boosted by upbeat earnings
* China blue-chip index closes up 0.2%
* Yuan edges back from three-month lows
* Dollar softens
By Koh Gui Qing
NEW YORK, July 28 (Reuters) - U.S. stocks and the dollar slipped on Wednesday in listless trade after the Federal Reserve gave no clue about when it might start reducing its purchases of government bonds, even as it said the economic recovery is on track.
The Fed said after its latest policy meeting ended on Wednesday that the economy has been strengthening despite a rise in coronavirus infections, and that accelerating inflation remained the result of "transitory factors."
At a news conference, Fed Chairman Jerome Powell said it was not yet time to think about raising interest rates, and that while the Fed has begun discussing plans to taper its bond purchases, the exact timing will depend on incoming data.
"It was a relief that there was no talk of tapering quite yet," said Ryan Detrick, a senior market strategist at LPL Financial in North Carolina. "Our view is the Fed will likely announce when tapering will start at Jackson Hole later in August."
The Dow Jones Industrial Average fell 0.36%, the S&P 500 was flat, while the tech-focused Nasdaq Composite rebounded 0.7% after hitting its lowest in more than two months on Tuesday.
Any sign the Fed may tighten policy sooner than expected could unnerve markets, since its loose policy has flushed the market with cash and pushed Wall Street to record highs. Also, some investors worry the fast-spreading Delta coronavirus variant may scupper economic growth, and hope the Fed will stand pat for now.
The lack of a clear taper timeline, while expected, dragged on the dollar nonetheless. The U.S. currency had a month-long rally as investors bet a strengthening economy would spark a Fed move to taper to quell inflation pressures.
The dollar index fell 0.24%, and a weaker dollar boosted the euro up 0.28% to $1.185.
Treasury yields initially climbed after the Fed meeting, but pulled back later. The yield on 10-year Treasury notes was down 0.3 basis points to 1.231%, and the yield on 10-year Treasury Inflation-Protected Securities climbed as high as -0.917%, before pulling back to -1.171%.
The Fed meeting aside, investor risk appetite also got a boost from signs that China's stock market might finally be steadying, after being hammered this week by concerns of a widening regulatory crackdown.
Following two sessions of falls, the pan-European STOXX 600 index rose 0.66% and MSCI's gauge of stocks across the globe gained 0.38%.
Chinese blue chips closed up 0.2% overnight, and Hong Kong's benchmark jumped 1.5%, but remained near nine-month lows.
The Chinese yuan also edged back from three-month lows. On Tuesday, it had its biggest daily decline since October. The offshore Chinese yuan strengthened versus the greenback at 6.4894 per dollar.
Cryptocurrency Bitcoin also bounced back above $40,000, jumping 2.4% to $40,428.38.
Firmer risk appetites did not dent demand for safe-haven gold, which held steady near $1,800.
Spot gold added 0.2% to $1,802.81 an ounce. U.S. gold futures gained 0.06% to $1,800.80 an ounce.
Oil prices received a fillip after data showed U.S. crude inventories fell more sharply than analysts had forecast, overshadowing worries that a resurgent pandemic might hit demand.
U.S. crude added 0.8% to $72.25 per barrel and Brent climbed 0.17% to $74.61.
(Reporting by Koh Gui Qing in New York, Tom Arnold in London and Alun John in Hong Kong; Additional reporting by Sujata Rao; Editing by David Gregorio and Alistair Bell) || The IMF’s Self-Serving Case Against Bitcoin: In June, I wrote that El Salvador’s decision to adoptbitcoinas legal tender was “themost significant single developmentin the history of cryptocurrency so far.” If anything, that was confirmed when the International Monetary Fund, a global development bank closely tied to the world’s richest countries, quickly declared that the move raised “a number ofmacroeconomic, financial and legal issues.”The statement amounted to a veiled threat, because El Salvador was in negotiations for a $1 billion loan from the IMF. But the IMF at the time didn’t provide any real detail about what “issues” it saw with the national adoption of bitcoin.
This week, we got more insight into what those issues might be.
Well, not really.
Related:Love Bitcoin? Mine Your Values
What we did get is an IMF blog post titled“Cryptoassets as National Currency? A Step Too Far”that amounts to a laundry list of boilerplate high-level critiques of cryptocurrency. It includes little nuance about their purported weakness as a national currency, though, and is even less specific about El Salvador’s plan. Though it does include some significant points, most of the statement could have been cribbed from aPeter Schiff Twitter rant: Its main arguments include cryptocurrency’s volatility, use for money laundering and electricity demand, which range from irrelevant to outright false.
In fairness, it was an informal blog post meant for a broad audience. But the lack of subtlety from an entity that has huge sway over the well-being of many of the world’s most vulnerable people is disappointing, if not outright frightening. It would seem to reinforce the sense that the IMF’s objection to Bitcoinization is less about the stability of economies daring to innovate than about maintaining the IMF’s own position of power over them.
I’ll dispense briefly with several of the points made in the IMF post. One is that the volatility of cryptocurrencies makes them untenable for long-term debt obligations, or even for short-term applications like business pricing, with disruptive economic effects. This is a reasonable argument against adopting bitcoin as the sole currency of a sovereign nation today.
But it doesn’t address the actual proposal in El Salvador, which would maintain the country’s current currency for day-to-day pricing, payments and debts, while adding bitcoin as an option for both payments and government reserves. This could be seen as a transitional phase. The long game here would theoretically see bitcoin (or another crypto asset) adopted by a growing number of countries, which would eventually increase its stability against other currencies. Given crypto’s track record over the past decade, it’s not a scenario to bet against.
Related:The Node: Goldman’s ‘DeFi’ ETF Is a Nothingburger
The second of the IMF’s specious claims is that crypto adoption would create money-laundering risk. Again, there are two rebuttals here. First and foremost, it is becoming increasingly clear that cryptocurrency has limited utility for money laundering, because while it’s impossible to stop, it’s also easily traced. Criminals themselves know that: Criminal activity on crypto networks declined 57% from 2019 to 2020 – from a miniscule $4.5 billion to aneven more miniscule $1.9 billion, according to CipherTrace – while the value of cryptos as a whole more than doubled.
The second rebuttal, to engage in somewhataboutism, is that normal banks handle demand for money laundering just fine. The United Nations estimated that$800 billion to $2 trillionof criminal proceeds is cleaned and hidden each year – at the top end, 33% more than the total circulating supply of all cryptocurrency in existence today.
The IMF alsowavesthe flag of environmentalism by citing critiques of cryptocurrency’s electrical demand. The debate around mining bitcoin and fossil fuel emissions is certainly knotty and important, and crypto that has less of an impact on the environment should be an industry goal. But the critique borders on offensive when it’s being used as a bludgeon to discipline developing countries. The advanced economies that control the IMF spent decades creating the climate mess we find ourselves in. For them to turn around and use their own sins as a cudgel to keep smaller, less developed, and mostly vastly less polluting countries from making their own monetary decisions crosses the line from illogical to sadistic.
The IMF does cite two genuine issues with the use of crypto as a national currency – though even one of those is irrelevant to the case of El Salvador, which triggered all the hand-wringing in the first place.
The IMF rightly points out that adopting a global cryptocurrency as a national currency would remove a nation’s ability to set its own monetary policy. A normal national currency supply is expanded according to the needs of the economy, which is often important tomaintaining economic growth.
But El Salvador hasn’t had control of its money supply for decades. Its primary national currency since 2001 has beenthe U.S. dollar. Seven other countries also use the dollar as their official currency, most either very small or struggling with a legacy of political instability. The list includes not only El Salvador, but also East Timor, Ecuador, Guam, the Marshall Islands, Palau, Panama and Zimbabwe. In theory, the dollar represents even greater risk to third-party adopters than bitcoin does, because the dollar can be weaponized in various ways for the benefit of the U.S. No less a crypto critic than British economist Frances Coppola has argued (in these pages) that switching to a neutral currency like bitcoin could bea stability upgradefor dollarized nations.
The second valid argument mooted by the IMF is simply that individuals need access to the internet to use crypto, and that access is quite limited worldwide. Onlyabout 60% of the world’s population has mobile or hardwired internet access, and that’s significantly lower in the very same developing or unstable nations most likely to benefit from the adoption of a dollar alternative.
Again, though, that doesn’t entirely apply to El Salvador, because it’s keeping dollars in circulation alongside bitcoin, solving the daily payments problem. Broadly, such a dual-currency system could mean bitcoin would be used only semiregularly, for remittances or international payments, by everyday citizens. This is even more true of the possible use of bitcoin as a national reserve, because that’s the province of central banks that probably have decent broadband.
But it is nonetheless true that access limitations mean adoption of a purely digital currency system wouldn’t be equitable in most countries. So maybe one valid argument out of five isn’t so bad.
It may seem puzzling that the IMF would throw so much ill-considered rhetorical spaghetti at the wall, as if only to see what sticks. In the most generous interpretation, it’s a deeply conservative institution whose knee-jerk opposition to change may play some helpful role in moderating any rushed moves into national adoption of cryptocurrencies.
But to play that role credibly, the IMF will have to strive for a lot more subtlety in its critiques. For now, its opposition to the growth of an alternative financial system has so little substance that it seems like nothing more than a very powerful institution defending its turf.
• How to Fix Ethereum’s MEV Problem and Give Traders the Best Price
• Tether’s Collapse Would Be Chaotic, Not Cataclysmic || The IMF’s Self-Serving Case Against Bitcoin: In June, I wrote that El Salvador’s decision to adopt bitcoin as legal tender was “the most significant single development in the history of cryptocurrency so far.” If anything, that was confirmed when the International Monetary Fund, a global development bank closely tied to the world’s richest countries, quickly declared that the move raised “a number of macroeconomic, financial and legal issues.” The statement amounted to a veiled threat, because El Salvador was in negotiations for a $1 billion loan from the IMF. But the IMF at the time didn’t provide any real detail about what “issues” it saw with the national adoption of bitcoin. This week, we got more insight into what those issues might be. Well, not really. Related: Love Bitcoin? Mine Your Values What we did get is an IMF blog post titled “Cryptoassets as National Currency? A Step Too Far” that amounts to a laundry list of boilerplate high-level critiques of cryptocurrency. It includes little nuance about their purported weakness as a national currency, though, and is even less specific about El Salvador’s plan. Though it does include some significant points, most of the statement could have been cribbed from a Peter Schiff Twitter rant : Its main arguments include cryptocurrency’s volatility, use for money laundering and electricity demand, which range from irrelevant to outright false. In fairness, it was an informal blog post meant for a broad audience. But the lack of subtlety from an entity that has huge sway over the well-being of many of the world’s most vulnerable people is disappointing, if not outright frightening. It would seem to reinforce the sense that the IMF’s objection to Bitcoinization is less about the stability of economies daring to innovate than about maintaining the IMF’s own position of power over them. Fake crypto problems I’ll dispense briefly with several of the points made in the IMF post. One is that the volatility of cryptocurrencies makes them untenable for long-term debt obligations, or even for short-term applications like business pricing, with disruptive economic effects. This is a reasonable argument against adopting bitcoin as the sole currency of a sovereign nation today. Story continues But it doesn’t address the actual proposal in El Salvador, which would maintain the country’s current currency for day-to-day pricing, payments and debts, while adding bitcoin as an option for both payments and government reserves. This could be seen as a transitional phase. The long game here would theoretically see bitcoin (or another crypto asset) adopted by a growing number of countries, which would eventually increase its stability against other currencies. Given crypto’s track record over the past decade, it’s not a scenario to bet against. Related: The Node: Goldman’s ‘DeFi’ ETF Is a Nothingburger The second of the IMF’s specious claims is that crypto adoption would create money-laundering risk. Again, there are two rebuttals here. First and foremost, it is becoming increasingly clear that cryptocurrency has limited utility for money laundering, because while it’s impossible to stop, it’s also easily traced. Criminals themselves know that: Criminal activity on crypto networks declined 57% from 2019 to 2020 – from a miniscule $4.5 billion to an even more miniscule $1.9 billion , according to CipherTrace – while the value of cryptos as a whole more than doubled. The second rebuttal, to engage in some whataboutism , is that normal banks handle demand for money laundering just fine. The United Nations estimated that $800 billion to $2 trillion of criminal proceeds is cleaned and hidden each year – at the top end, 33% more than the total circulating supply of all cryptocurrency in existence today. The IMF also waves the flag of environmentalism by citing critiques of cryptocurrency’s electrical demand. The debate around mining bitcoin and fossil fuel emissions is certainly knotty and important, and crypto that has less of an impact on the environment should be an industry goal. But the critique borders on offensive when it’s being used as a bludgeon to discipline developing countries. The advanced economies that control the IMF spent decades creating the climate mess we find ourselves in. For them to turn around and use their own sins as a cudgel to keep smaller, less developed, and mostly vastly less polluting countries from making their own monetary decisions crosses the line from illogical to sadistic. Real crypto problems The IMF does cite two genuine issues with the use of crypto as a national currency – though even one of those is irrelevant to the case of El Salvador, which triggered all the hand-wringing in the first place. The IMF rightly points out that adopting a global cryptocurrency as a national currency would remove a nation’s ability to set its own monetary policy. A normal national currency supply is expanded according to the needs of the economy, which is often important to maintaining economic growth . But El Salvador hasn’t had control of its money supply for decades. Its primary national currency since 2001 has been the U.S. dollar . Seven other countries also use the dollar as their official currency, most either very small or struggling with a legacy of political instability. The list includes not only El Salvador, but also East Timor, Ecuador, Guam, the Marshall Islands, Palau, Panama and Zimbabwe. In theory, the dollar represents even greater risk to third-party adopters than bitcoin does, because the dollar can be weaponized in various ways for the benefit of the U.S. No less a crypto critic than British economist Frances Coppola has argued (in these pages) that switching to a neutral currency like bitcoin could be a stability upgrade for dollarized nations. The second valid argument mooted by the IMF is simply that individuals need access to the internet to use crypto, and that access is quite limited worldwide. Only about 60 % of the world’s population has mobile or hardwired internet access, and that’s significantly lower in the very same developing or unstable nations most likely to benefit from the adoption of a dollar alternative. Again, though, that doesn’t entirely apply to El Salvador, because it’s keeping dollars in circulation alongside bitcoin, solving the daily payments problem. Broadly, such a dual-currency system could mean bitcoin would be used only semiregularly, for remittances or international payments, by everyday citizens. This is even more true of the possible use of bitcoin as a national reserve, because that’s the province of central banks that probably have decent broadband. But it is nonetheless true that access limitations mean adoption of a purely digital currency system wouldn’t be equitable in most countries. So maybe one valid argument out of five isn’t so bad. What’s really going on here? It may seem puzzling that the IMF would throw so much ill-considered rhetorical spaghetti at the wall, as if only to see what sticks. In the most generous interpretation, it’s a deeply conservative institution whose knee-jerk opposition to change may play some helpful role in moderating any rushed moves into national adoption of cryptocurrencies. But to play that role credibly, the IMF will have to strive for a lot more subtlety in its critiques. For now, its opposition to the growth of an alternative financial system has so little substance that it seems like nothing more than a very powerful institution defending its turf. Related Stories How to Fix Ethereum’s MEV Problem and Give Traders the Best Price Tether’s Collapse Would Be Chaotic, Not Cataclysmic || The IMF’s Self-Serving Case Against Bitcoin: In June, I wrote that El Salvador’s decision to adoptbitcoinas legal tender was “themost significant single developmentin the history of cryptocurrency so far.” If anything, that was confirmed when the International Monetary Fund, a global development bank closely tied to the world’s richest countries, quickly declared that the move raised “a number ofmacroeconomic, financial and legal issues.”The statement amounted to a veiled threat, because El Salvador was in negotiations for a $1 billion loan from the IMF. But the IMF at the time didn’t provide any real detail about what “issues” it saw with the national adoption of bitcoin.
This week, we got more insight into what those issues might be.
Well, not really.
Related:Love Bitcoin? Mine Your Values
What we did get is an IMF blog post titled“Cryptoassets as National Currency? A Step Too Far”that amounts to a laundry list of boilerplate high-level critiques of cryptocurrency. It includes little nuance about their purported weakness as a national currency, though, and is even less specific about El Salvador’s plan. Though it does include some significant points, most of the statement could have been cribbed from aPeter Schiff Twitter rant: Its main arguments include cryptocurrency’s volatility, use for money laundering and electricity demand, which range from irrelevant to outright false.
In fairness, it was an informal blog post meant for a broad audience. But the lack of subtlety from an entity that has huge sway over the well-being of many of the world’s most vulnerable people is disappointing, if not outright frightening. It would seem to reinforce the sense that the IMF’s objection to Bitcoinization is less about the stability of economies daring to innovate than about maintaining the IMF’s own position of power over them.
I’ll dispense briefly with several of the points made in the IMF post. One is that the volatility of cryptocurrencies makes them untenable for long-term debt obligations, or even for short-term applications like business pricing, with disruptive economic effects. This is a reasonable argument against adopting bitcoin as the sole currency of a sovereign nation today.
But it doesn’t address the actual proposal in El Salvador, which would maintain the country’s current currency for day-to-day pricing, payments and debts, while adding bitcoin as an option for both payments and government reserves. This could be seen as a transitional phase. The long game here would theoretically see bitcoin (or another crypto asset) adopted by a growing number of countries, which would eventually increase its stability against other currencies. Given crypto’s track record over the past decade, it’s not a scenario to bet against.
Related:The Node: Goldman’s ‘DeFi’ ETF Is a Nothingburger
The second of the IMF’s specious claims is that crypto adoption would create money-laundering risk. Again, there are two rebuttals here. First and foremost, it is becoming increasingly clear that cryptocurrency has limited utility for money laundering, because while it’s impossible to stop, it’s also easily traced. Criminals themselves know that: Criminal activity on crypto networks declined 57% from 2019 to 2020 – from a miniscule $4.5 billion to aneven more miniscule $1.9 billion, according to CipherTrace – while the value of cryptos as a whole more than doubled.
The second rebuttal, to engage in somewhataboutism, is that normal banks handle demand for money laundering just fine. The United Nations estimated that$800 billion to $2 trillionof criminal proceeds is cleaned and hidden each year – at the top end, 33% more than the total circulating supply of all cryptocurrency in existence today.
The IMF alsowavesthe flag of environmentalism by citing critiques of cryptocurrency’s electrical demand. The debate around mining bitcoin and fossil fuel emissions is certainly knotty and important, and crypto that has less of an impact on the environment should be an industry goal. But the critique borders on offensive when it’s being used as a bludgeon to discipline developing countries. The advanced economies that control the IMF spent decades creating the climate mess we find ourselves in. For them to turn around and use their own sins as a cudgel to keep smaller, less developed, and mostly vastly less polluting countries from making their own monetary decisions crosses the line from illogical to sadistic.
The IMF does cite two genuine issues with the use of crypto as a national currency – though even one of those is irrelevant to the case of El Salvador, which triggered all the hand-wringing in the first place.
The IMF rightly points out that adopting a global cryptocurrency as a national currency would remove a nation’s ability to set its own monetary policy. A normal national currency supply is expanded according to the needs of the economy, which is often important tomaintaining economic growth.
But El Salvador hasn’t had control of its money supply for decades. Its primary national currency since 2001 has beenthe U.S. dollar. Seven other countries also use the dollar as their official currency, most either very small or struggling with a legacy of political instability. The list includes not only El Salvador, but also East Timor, Ecuador, Guam, the Marshall Islands, Palau, Panama and Zimbabwe. In theory, the dollar represents even greater risk to third-party adopters than bitcoin does, because the dollar can be weaponized in various ways for the benefit of the U.S. No less a crypto critic than British economist Frances Coppola has argued (in these pages) that switching to a neutral currency like bitcoin could bea stability upgradefor dollarized nations.
The second valid argument mooted by the IMF is simply that individuals need access to the internet to use crypto, and that access is quite limited worldwide. Onlyabout 60% of the world’s population has mobile or hardwired internet access, and that’s significantly lower in the very same developing or unstable nations most likely to benefit from the adoption of a dollar alternative.
Again, though, that doesn’t entirely apply to El Salvador, because it’s keeping dollars in circulation alongside bitcoin, solving the daily payments problem. Broadly, such a dual-currency system could mean bitcoin would be used only semiregularly, for remittances or international payments, by everyday citizens. This is even more true of the possible use of bitcoin as a national reserve, because that’s the province of central banks that probably have decent broadband.
But it is nonetheless true that access limitations mean adoption of a purely digital currency system wouldn’t be equitable in most countries. So maybe one valid argument out of five isn’t so bad.
It may seem puzzling that the IMF would throw so much ill-considered rhetorical spaghetti at the wall, as if only to see what sticks. In the most generous interpretation, it’s a deeply conservative institution whose knee-jerk opposition to change may play some helpful role in moderating any rushed moves into national adoption of cryptocurrencies.
But to play that role credibly, the IMF will have to strive for a lot more subtlety in its critiques. For now, its opposition to the growth of an alternative financial system has so little substance that it seems like nothing more than a very powerful institution defending its turf.
• How to Fix Ethereum’s MEV Problem and Give Traders the Best Price
• Tether’s Collapse Would Be Chaotic, Not Cataclysmic || Stock Market Today: Stocks Finish Mixed as Fed Stays the Course: Federal Reserve Getty Images The Federal Reserve and Chair Jerome Powell brought a little cheer to parts of Wall Street on Wednesday, keeping benchmark interest rates steady (as expected) but also indicating that accommodative policy would stick around for some time. In a release, Powell said that the U.S. labor picture would need to significantly improve before the central bank would pare back its monthly asset purchases. SEE MORE 11 Safe Stocks for Superior Gains "The Fed acknowledged that the economy has made progress towards meeting employment and inflation goals so we're likely getting closer to an official tapering announcement, but we still think September is when that is likely to take place," says Lawrence Gillum, fixed income strategist for LPL Financial. “Some members continue to express concern about the slow pace of recovery in the labor market, while others are more concerned about rising prices and the economic impact as a whole. Either way, Chairman Powell likely spent most of this meeting wrangling with other Fed officials on the timing and pace of slowing the Fed’s asset purchases,” says Charlie Ripley, senior investment strategist for Allianz Investment Management. “With no imminent decision signaled at this meeting, it appears that it’s going to take a couple more meetings to get everyone on the same page.” Also front-and-center today were several strong earnings-related performances. Google parent Alphabet ( GOOGL , +3.2%) delivered a massive 62% year-over-year jump on revenues as advertising rebounded, Pfizer ( PFE , +3.2%) topped Q2 estimates and raised its full-year guidance on strong COVID vaccine sales, and Boeing ( BA , +4.2%) recorded a surprise profit after six consecutive quarterly losses. Sign up for Kiplinger's FREE Investing Weekly e-letter for stock, ETF and mutual fund recommendations, and other investing advice. The small-cap Russell 2000 led the way with a 1.5% jump to 2,224. The Nasdaq Composite rebounded 0.7% to 14,762, and while the S&P 500 finished with a marginal decline, it closed well off the day's lows, at 4,400. The Dow Jones Industrial Average dipped 0.4% to 34,930. Story continues Other news in the stock market today: McDonald's ( MCD , -1.9%) was the worst Dow stock today following the fast-food chain's quarterly report. In its second quarter, MCD reported higher-than-anticipated adjusted earnings per share of $2.37 on $5.9 billion in revenue, up 259% and 57%, respectively, on a year-over-year basis. Additionally, global same-store sales surged 40.5% from the same period one year ago. In a subsequent earnings call, CEO Chris Kempczinski noted a "challenging labor environment," but added that it was "getting better" in the U.S. He also said the company is monitoring supply chain issues and the global chip shortage , particularly "on the equipment side." Apple ( AAPL , -1.2%) was another blue chip that fell after its quarterly earnings report, even as Wedbush called the iPhone maker's fiscal third-quarter a "gold medal" performance. You can read all the highlights from AAPL's "drop-the-mic" quarter here . U.S. crude oil futures rose 1% to $72.39 per barrel. Gold futures closed marginally lower at $1,799.70 an ounce. The CBOE Volatility Index (VIX) slumped 5.5% to 18.29. Bitcoin prices bounced a robust 6.3% to $40,307.11. (Bitcoin trades 24 hours a day; prices reported here are as of 4 p.m. each trading day.) stock chart for 072821 YCharts Is It Almost Infrastructure Week? Another potentially bullish factor that flew under the radar: progress in Washington on an infrastructure deal. Specifically, a bipartisan group of senators agreed Wednesday on major issues for an infrastructure bill that would authorize $1.2 trillion in spending over the next eight years. SEE MORE 32 Bankruptcy Filings Chalked Up to COVID-19 "Today was a critical step forward in passing the infrastructure bill; the main issue around payment appears to be resolved," says Josh Duitz, portfolio manager of the Aberdeen Standard Global Income Infrastructure Fund ( ASGI ). "While we're optimistic a deal will be signed before the August recess, the reality is that infrastructure investment is going to be strong going forwards regardless of what happens on Capitol Hill." Duitz notes that two potential beneficiaries – green energy and 5G communications – are already on the rise, and that a new bill would only accelerate the revolutions already under way. Investors looking for intriguing opportunities in the event Washington's bipartisan proposal becomes law should certainly explore both themes, but other industries could enjoy a lift, too. Read on as we delve into 14 of the best stocks to buy if America's aging infrastructure finally receives a cash infusion . Kyle Woodley was long BA as of this writing. SEE MORE Hedge Funds' 25 Top Blue-Chip Stocks to Buy Now You may also like Your Guide to Roth Conversions 11 Best Healthcare Stocks for the Rest of 2021 Warning: You May Have to Pay Back Your Monthly Child Tax Credit Payments || Stock Market Today: Stocks Finish Mixed as Fed Stays the Course: Federal Reserve Getty Images The Federal Reserve and Chair Jerome Powell brought a little cheer to parts of Wall Street on Wednesday, keeping benchmark interest rates steady (as expected) but also indicating that accommodative policy would stick around for some time. In a release, Powell said that the U.S. labor picture would need to significantly improve before the central bank would pare back its monthly asset purchases. SEE MORE 11 Safe Stocks for Superior Gains "The Fed acknowledged that the economy has made progress towards meeting employment and inflation goals so we're likely getting closer to an official tapering announcement, but we still think September is when that is likely to take place," says Lawrence Gillum, fixed income strategist for LPL Financial. “Some members continue to express concern about the slow pace of recovery in the labor market, while others are more concerned about rising prices and the economic impact as a whole. Either way, Chairman Powell likely spent most of this meeting wrangling with other Fed officials on the timing and pace of slowing the Fed’s asset purchases,” says Charlie Ripley, senior investment strategist for Allianz Investment Management. “With no imminent decision signaled at this meeting, it appears that it’s going to take a couple more meetings to get everyone on the same page.” Also front-and-center today were several strong earnings-related performances. Google parent Alphabet ( GOOGL , +3.2%) delivered a massive 62% year-over-year jump on revenues as advertising rebounded, Pfizer ( PFE , +3.2%) topped Q2 estimates and raised its full-year guidance on strong COVID vaccine sales, and Boeing ( BA , +4.2%) recorded a surprise profit after six consecutive quarterly losses. Sign up for Kiplinger's FREE Investing Weekly e-letter for stock, ETF and mutual fund recommendations, and other investing advice. The small-cap Russell 2000 led the way with a 1.5% jump to 2,224. The Nasdaq Composite rebounded 0.7% to 14,762, and while the S&P 500 finished with a marginal decline, it closed well off the day's lows, at 4,400. The Dow Jones Industrial Average dipped 0.4% to 34,930. Story continues Other news in the stock market today: McDonald's ( MCD , -1.9%) was the worst Dow stock today following the fast-food chain's quarterly report. In its second quarter, MCD reported higher-than-anticipated adjusted earnings per share of $2.37 on $5.9 billion in revenue, up 259% and 57%, respectively, on a year-over-year basis. Additionally, global same-store sales surged 40.5% from the same period one year ago. In a subsequent earnings call, CEO Chris Kempczinski noted a "challenging labor environment," but added that it was "getting better" in the U.S. He also said the company is monitoring supply chain issues and the global chip shortage , particularly "on the equipment side." Apple ( AAPL , -1.2%) was another blue chip that fell after its quarterly earnings report, even as Wedbush called the iPhone maker's fiscal third-quarter a "gold medal" performance. You can read all the highlights from AAPL's "drop-the-mic" quarter here . U.S. crude oil futures rose 1% to $72.39 per barrel. Gold futures closed marginally lower at $1,799.70 an ounce. The CBOE Volatility Index (VIX) slumped 5.5% to 18.29. Bitcoin prices bounced a robust 6.3% to $40,307.11. (Bitcoin trades 24 hours a day; prices reported here are as of 4 p.m. each trading day.) stock chart for 072821 YCharts Is It Almost Infrastructure Week? Another potentially bullish factor that flew under the radar: progress in Washington on an infrastructure deal. Specifically, a bipartisan group of senators agreed Wednesday on major issues for an infrastructure bill that would authorize $1.2 trillion in spending over the next eight years. SEE MORE 32 Bankruptcy Filings Chalked Up to COVID-19 "Today was a critical step forward in passing the infrastructure bill; the main issue around payment appears to be resolved," says Josh Duitz, portfolio manager of the Aberdeen Standard Global Income Infrastructure Fund ( ASGI ). "While we're optimistic a deal will be signed before the August recess, the reality is that infrastructure investment is going to be strong going forwards regardless of what happens on Capitol Hill." Duitz notes that two potential beneficiaries – green energy and 5G communications – are already on the rise, and that a new bill would only accelerate the revolutions already under way. Investors looking for intriguing opportunities in the event Washington's bipartisan proposal becomes law should certainly explore both themes, but other industries could enjoy a lift, too. Read on as we delve into 14 of the best stocks to buy if America's aging infrastructure finally receives a cash infusion . Kyle Woodley was long BA as of this writing. SEE MORE Hedge Funds' 25 Top Blue-Chip Stocks to Buy Now You may also like Your Guide to Roth Conversions 11 Best Healthcare Stocks for the Rest of 2021 Warning: You May Have to Pay Back Your Monthly Child Tax Credit Payments || Market Wrap: Bitcoin Expected to Pause Before Next Rally: Bitcoin buyers are in profit-taking mode as the cryptocurrency tests the $40,000 resistance level. Sentiment has significantly improved over the past week, although some analysts think it’s time for a pause before another leg higher.
“BTC easily broke through $35K, but I think it will probably have a harder time going through $40K this time,” Justin Chuh, a senior trader atWave Financial, wrote in an email to CoinDesk.
“Miners & sellers are coming in to cash out once more and buyers unable to push it higher after absorbing that hit,” Chuh wrote.
Related:Bitcoin Overbought at $40K Resistance; Support at $34K-$36K
Cryptocurrencies:
• Bitcoin(BTC) $40328, +6.56%
• Ether(ETH) $2308.8, +3.27%
Traditional markets:
• S&P 500: 4403.9, +0.056%
• Gold: $1808.1, +0.5%
• 10-year Treasury yield closed at 1.233%, compared with 1.238%
Sentiment can easily shift from bullish to bearish as bitcoin remains in a consolidation phase with strong overhead resistance.
“BTC was already rejected again by its 200-day moving average, just like in early June, but it should try again after a breather, and hopefully not crawling lower than $35K,” Chuh wrote.
Related:Think Tank Rand Says Crypto Should Be Included in US-Japan Digital Trade Deal
“If (and when) bitcoin does cross the 200-day, this will signal confidence in the market and demonstrate to many players that the bulls have regained control of the market,” Alexandra Clark, a trader at U.K.-based digital-asset brokerGlobalBlock, wrote in an email to CoinDesk.
For now, trading activity is sharply higher compared with June. Short-dated call options were actively traded Wednesday morning as bitcoin approached $40,000, according to data from Skew.
Grayscale Bitcoin Trust (GBTC) shares havenarrowed their discountrelative to the underlying cryptocurrency held in the fund – possibly a sign that buyers are using the vehicle to bet on the recent recovery rally in digital-asset markets.
The GBTC shares traded at a discount of 6.6% to net asset value (NAV) on Tuesday, the smallest margin since June 22, based on data provided by the crypto derivatives research firmSkew. The discount had widened to 15% in mid-June.
Some investors may have snapped up GBTC shares in hopes that the discount will evaporate with a bull revival in bitcoin. In that scenario, the buyers would reap any price gains on bitcoin while pocketing extra profit from a narrowing of the discount. (Grayscale Investments, which manages the trust, is a unit of Digital Currency Group, which also owns CoinDesk.)
The ether marketgrewthree times faster than the bitcoin market did in the first six months of the year as large investors diversified into the native token of Ethereum’s blockchain, according to crypto exchange Coinbase’s half-yearly reviewpublishedon Monday.
Crypto investors have just endured one of the toughest quarters on record. Despite a recent rebound, fears of overregulation, a clampdown on mining in China and environmental concerns have all contributed to negative sentiment in the sector. Most CoinDesk 20 assets, which constitute about 99% of the crypto market by verifiable volume, finished the second quarter with negative returns.
The CoinDesk Bitcoin Price Index (XBX) fell 40%, its third-worst quarter ever. Conversely, the CoinDesk Ether Price Index (ETX) ended the quarter up 18.7%. While bitcoin has recovered some of its losses, the level of optimism is far from what it was at the start of the second quarter.
Some crypto CEOs, however, still expect a six-figure bitcoin price, saying that the medium-term outlook for the crypto market is positive, even if sentiment is not, CoinDesk’s Will Cannyreports.
Stablecoins have existed for roughly seven years, but talk about them has never been as heated as in recent weeks, not only within the crypto community but also among regulators and traditional market investors.
Much has been going on the world of stablecoins recently, and some of it can be overwhelming. Here are thethree big thingshappening now:
• Tether is under a cloud:As the most traded cryptocurrency in the market,USDThas become a backbone for the entire cryptocurrency ecosystem. Over half of all bitcoin trades are made against it. However, Tether, the company behind the digital token, has been plagued by regulatory issues.
• Regulatory heat:Stablecoins had a total market capitalization of $116 billion as of Monday, an almost fourfold increase since the start of this year, according to CoinMarketCap. As growth has increased, so has the attention from U.S. and other regulators.
• Circle going public, other stablecoin issuers disclose more info:Circle, the issuer ofUSDC, the second largest stablecoin, has also been in the spotlight. Circle plans to go public through a merger with Concord Acquisition Corp., a publicly traded special purpose acquisition corporation (SPAC). The deal would value the crypto financial services firm at $4.5 billion. Another stablecoin issuer, Paxos, also released for the first time a breakdown of reserves for its stablecoins, Paxos standard and the Binance-labeled BUSD. Some 96% of the reserves was held in cash and cash equivalents, while 4% was invested in U.S. Treasury bills as of June 30.
• XRP rallies:XRP, a cryptocurrency used by Ripple in its payments network,ralliedto a five-week high on Wednesday after the company said it istargetingthe $1.8 billion Filipino remittance market. The cryptocurrency changed hands at $0.74 during the European hours, hitting its highest level since June 21 and representing a 13% gain on the day, according to CoinDesk 20 data.
• Ether Trading Volume Surges:Ether’s trading volume totaled $1.4 trillion in the January-to-June period, a 1,461% rise from $92 billion observed in the first half of last year.
• Burger King Brazil accepts dogecoin:Burger King Brazil nowacceptsdogecoin (DOGE, +2.64%) as a payment method to purchase the fast-food chain’s Dogpper, a dog snack. The service has been available since Monday, according to the company’s official website, though users should check the availability of delivery in their region, the company said. Each Dogpper – a dog treat that plays on the name of Burger King’s best-known menu item, the Whopper – costs 3 DOGE. The company recommends purchasing a maximum of five units per order for “availability reasons.”
• Luxor Technologies Launches Index of Crypto Mining Stocks
• Mining Difficulty Expected to Increase for the First Time Since China Crackdown
• UBS Mulls Offering Prime Brokerage Services for Crypto ETPs to European Hedge Funds: Sources
• Grayscale Bitcoin Trust Discount Narrows as ‘Unlocks’ Pass
• FTX Renames Blockfolio Trading App to … FTX
• Robinhood Under Investigation for Finra Registration Violation
Most digital assets on CoinDesk 20 ended up higher on Wednesday.
Notable winners of 21:00 UTC (4:00 p.m. ET):
xrp(XRP) +12.51%
eos(EOS) +6.43%
uniswap(UNI) +4.77%
Notable losers
the graph(GRT) -0.31%
yearn Finance(YFI) -0.23%
USD Coin(USDC) -0.06%
• Love Bitcoin? Mine Your Values
• Israeli Bill Would Force Crypto Investors to Report Holdings Above $61K || Market Wrap: Bitcoin Expected to Pause Before Next Rally: Bitcoin buyers are in profit-taking mode as the cryptocurrency tests the $40,000 resistance level. Sentiment has significantly improved over the past week, although some analysts think it’s time for a pause before another leg higher. “BTC easily broke through $35K, but I think it will probably have a harder time going through $40K this time,” Justin Chuh, a senior trader at Wave Financial , wrote in an email to CoinDesk. “Miners & sellers are coming in to cash out once more and buyers unable to push it higher after absorbing that hit,” Chuh wrote. Latest prices Related: Bitcoin Overbought at $40K Resistance; Support at $34K-$36K Cryptocurrencies: Bitcoin (BTC) $40328, +6.56% Ether (ETH) $2308.8, +3.27% Traditional markets: S&P 500: 4403.9, +0.056% Gold: $1808.1, +0.5% 10-year Treasury yield closed at 1.233%, compared with 1.238% Moving average watch Sentiment can easily shift from bullish to bearish as bitcoin remains in a consolidation phase with strong overhead resistance. “BTC was already rejected again by its 200-day moving average, just like in early June, but it should try again after a breather, and hopefully not crawling lower than $35K,” Chuh wrote. Related: Think Tank Rand Says Crypto Should Be Included in US-Japan Digital Trade Deal “If (and when) bitcoin does cross the 200-day, this will signal confidence in the market and demonstrate to many players that the bulls have regained control of the market,” Alexandra Clark, a trader at U.K.-based digital-asset broker GlobalBlock , wrote in an email to CoinDesk. For now, trading activity is sharply higher compared with June. Short-dated call options were actively traded Wednesday morning as bitcoin approached $40,000, according to data from Skew. GBTC discount narrows Grayscale Bitcoin Trust (GBTC) shares have narrowed their discount relative to the underlying cryptocurrency held in the fund – possibly a sign that buyers are using the vehicle to bet on the recent recovery rally in digital-asset markets. Story continues The GBTC shares traded at a discount of 6.6% to net asset value (NAV) on Tuesday, the smallest margin since June 22, based on data provided by the crypto derivatives research firm Skew . The discount had widened to 15% in mid-June. Some investors may have snapped up GBTC shares in hopes that the discount will evaporate with a bull revival in bitcoin. In that scenario, the buyers would reap any price gains on bitcoin while pocketing extra profit from a narrowing of the discount. (Grayscale Investments, which manages the trust, is a unit of Digital Currency Group, which also owns CoinDesk.) Ether trading volumes surge The ether market grew three times faster than the bitcoin market did in the first six months of the year as large investors diversified into the native token of Ethereum’s blockchain, according to crypto exchange Coinbase’s half-yearly review published on Monday. Crypto CEOs are bullish Crypto investors have just endured one of the toughest quarters on record. Despite a recent rebound, fears of overregulation, a clampdown on mining in China and environmental concerns have all contributed to negative sentiment in the sector. Most CoinDesk 20 assets, which constitute about 99% of the crypto market by verifiable volume, finished the second quarter with negative returns. The CoinDesk Bitcoin Price Index (XBX) fell 40%, its third-worst quarter ever. Conversely, the CoinDesk Ether Price Index (ETX) ended the quarter up 18.7%. While bitcoin has recovered some of its losses, the level of optimism is far from what it was at the start of the second quarter. Some crypto CEOs, however, still expect a six-figure bitcoin price, saying that the medium-term outlook for the crypto market is positive, even if sentiment is not, CoinDesk’s Will Canny reports . Why stablecoins are in the spotlight Stablecoins have existed for roughly seven years, but talk about them has never been as heated as in recent weeks, not only within the crypto community but also among regulators and traditional market investors. Much has been going on the world of stablecoins recently, and some of it can be overwhelming. Here are the three big things happening now: Tether is under a cloud: As the most traded cryptocurrency in the market, USDT has become a backbone for the entire cryptocurrency ecosystem. Over half of all bitcoin trades are made against it. However, Tether, the company behind the digital token, has been plagued by regulatory issues. Regulatory heat: Stablecoins had a total market capitalization of $116 billion as of Monday, an almost fourfold increase since the start of this year, according to CoinMarketCap. As growth has increased, so has the attention from U.S. and other regulators. Circle going public, other stablecoin issuers disclose more info: Circle, the issuer of USDC , the second largest stablecoin, has also been in the spotlight. Circle plans to go public through a merger with Concord Acquisition Corp., a publicly traded special purpose acquisition corporation (SPAC). The deal would value the crypto financial services firm at $4.5 billion. Another stablecoin issuer, Paxos, also released for the first time a breakdown of reserves for its stablecoins, Paxos standard and the Binance-labeled BUSD. Some 96% of the reserves was held in cash and cash equivalents, while 4% was invested in U.S. Treasury bills as of June 30. Altcoin roundup XRP rallies: XRP, a cryptocurrency used by Ripple in its payments network, rallied to a five-week high on Wednesday after the company said it is targeting the $1.8 billion Filipino remittance market. The cryptocurrency changed hands at $0.74 during the European hours, hitting its highest level since June 21 and representing a 13% gain on the day, according to CoinDesk 20 data. Ether Trading Volume Surges: Ether’s trading volume totaled $1.4 trillion in the January-to-June period, a 1,461% rise from $92 billion observed in the first half of last year. Burger King Brazil accepts dogecoin: Burger King Brazil now accepts dogecoin ( DOGE , +2.64%) as a payment method to purchase the fast-food chain’s Dogpper, a dog snack. The service has been available since Monday, according to the company’s official website, though users should check the availability of delivery in their region, the company said. Each Dogpper – a dog treat that plays on the name of Burger King’s best-known menu item, the Whopper – costs 3 DOGE. The company recommends purchasing a maximum of five units per order for “availability reasons.” Relevant News: Luxor Technologies Launches Index of Crypto Mining Stocks Mining Difficulty Expected to Increase for the First Time Since China Crackdown UBS Mulls Offering Prime Brokerage Services for Crypto ETPs to European Hedge Funds: Sources Grayscale Bitcoin Trust Discount Narrows as ‘Unlocks’ Pass FTX Renames Blockfolio Trading App to … FTX Robinhood Under Investigation for Finra Registration Violation Other markets Most digital assets on CoinDesk 20 ended up higher on Wednesday. Notable winners of 21:00 UTC (4:00 p.m. ET): xrp (XRP) +12.51% eos (EOS) +6.43% uniswap (UNI) +4.77% Notable losers the graph (GRT) -0.31% yearn Finance (YFI) -0.23% USD Coin (USDC) -0.06% Related Stories Love Bitcoin? Mine Your Values Israeli Bill Would Force Crypto Investors to Report Holdings Above $61K || Market Wrap: Bitcoin Expected to Pause Before Next Rally: Bitcoin buyers are in profit-taking mode as the cryptocurrency tests the $40,000 resistance level. Sentiment has significantly improved over the past week, although some analysts think it’s time for a pause before another leg higher.
“BTC easily broke through $35K, but I think it will probably have a harder time going through $40K this time,” Justin Chuh, a senior trader atWave Financial, wrote in an email to CoinDesk.
“Miners & sellers are coming in to cash out once more and buyers unable to push it higher after absorbing that hit,” Chuh wrote.
Related:Bitcoin Overbought at $40K Resistance; Support at $34K-$36K
Cryptocurrencies:
• Bitcoin(BTC) $40328, +6.56%
• Ether(ETH) $2308.8, +3.27%
Traditional markets:
• S&P 500: 4403.9, +0.056%
• Gold: $1808.1, +0.5%
• 10-year Treasury yield closed at 1.233%, compared with 1.238%
Sentiment can easily shift from bullish to bearish as bitcoin remains in a consolidation phase with strong overhead resistance.
“BTC was already rejected again by its 200-day moving average, just like in early June, but it should try again after a breather, and hopefully not crawling lower than $35K,” Chuh wrote.
Related:Think Tank Rand Says Crypto Should Be Included in US-Japan Digital Trade Deal
“If (and when) bitcoin does cross the 200-day, this will signal confidence in the market and demonstrate to many players that the bulls have regained control of the market,” Alexandra Clark, a trader at U.K.-based digital-asset brokerGlobalBlock, wrote in an email to CoinDesk.
For now, trading activity is sharply higher compared with June. Short-dated call options were actively traded Wednesday morning as bitcoin approached $40,000, according to data from Skew.
Grayscale Bitcoin Trust (GBTC) shares havenarrowed their discountrelative to the underlying cryptocurrency held in the fund – possibly a sign that buyers are using the vehicle to bet on the recent recovery rally in digital-asset markets.
The GBTC shares traded at a discount of 6.6% to net asset value (NAV) on Tuesday, the smallest margin since June 22, based on data provided by the crypto derivatives research firmSkew. The discount had widened to 15% in mid-June.
Some investors may have snapped up GBTC shares in hopes that the discount will evaporate with a bull revival in bitcoin. In that scenario, the buyers would reap any price gains on bitcoin while pocketing extra profit from a narrowing of the discount. (Grayscale Investments, which manages the trust, is a unit of Digital Currency Group, which also owns CoinDesk.)
The ether marketgrewthree times faster than the bitcoin market did in the first six months of the year as large investors diversified into the native token of Ethereum’s blockchain, according to crypto exchange Coinbase’s half-yearly reviewpublishedon Monday.
Crypto investors have just endured one of the toughest quarters on record. Despite a recent rebound, fears of overregulation, a clampdown on mining in China and environmental concerns have all contributed to negative sentiment in the sector. Most CoinDesk 20 assets, which constitute about 99% of the crypto market by verifiable volume, finished the second quarter with negative returns.
The CoinDesk Bitcoin Price Index (XBX) fell 40%, its third-worst quarter ever. Conversely, the CoinDesk Ether Price Index (ETX) ended the quarter up 18.7%. While bitcoin has recovered some of its losses, the level of optimism is far from what it was at the start of the second quarter.
Some crypto CEOs, however, still expect a six-figure bitcoin price, saying that the medium-term outlook for the crypto market is positive, even if sentiment is not, CoinDesk’s Will Cannyreports.
Stablecoins have existed for roughly seven years, but talk about them has never been as heated as in recent weeks, not only within the crypto community but also among regulators and traditional market investors.
Much has been going on the world of stablecoins recently, and some of it can be overwhelming. Here are thethree big thingshappening now:
• Tether is under a cloud:As the most traded cryptocurrency in the market,USDThas become a backbone for the entire cryptocurrency ecosystem. Over half of all bitcoin trades are made against it. However, Tether, the company behind the digital token, has been plagued by regulatory issues.
• Regulatory heat:Stablecoins had a total market capitalization of $116 billion as of Monday, an almost fourfold increase since the start of this year, according to CoinMarketCap. As growth has increased, so has the attention from U.S. and other regulators.
• Circle going public, other stablecoin issuers disclose more info:Circle, the issuer ofUSDC, the second largest stablecoin, has also been in the spotlight. Circle plans to go public through a merger with Concord Acquisition Corp., a publicly traded special purpose acquisition corporation (SPAC). The deal would value the crypto financial services firm at $4.5 billion. Another stablecoin issuer, Paxos, also released for the first time a breakdown of reserves for its stablecoins, Paxos standard and the Binance-labeled BUSD. Some 96% of the reserves was held in cash and cash equivalents, while 4% was invested in U.S. Treasury bills as of June 30.
• XRP rallies:XRP, a cryptocurrency used by Ripple in its payments network,ralliedto a five-week high on Wednesday after the company said it istargetingthe $1.8 billion Filipino remittance market. The cryptocurrency changed hands at $0.74 during the European hours, hitting its highest level since June 21 and representing a 13% gain on the day, according to CoinDesk 20 data.
• Ether Trading Volume Surges:Ether’s trading volume totaled $1.4 trillion in the January-to-June period, a 1,461% rise from $92 billion observed in the first half of last year.
• Burger King Brazil accepts dogecoin:Burger King Brazil nowacceptsdogecoin (DOGE, +2.64%) as a payment method to purchase the fast-food chain’s Dogpper, a dog snack. The service has been available since Monday, according to the company’s official website, though users should check the availability of delivery in their region, the company said. Each Dogpper – a dog treat that plays on the name of Burger King’s best-known menu item, the Whopper – costs 3 DOGE. The company recommends purchasing a maximum of five units per order for “availability reasons.”
• Luxor Technologies Launches Index of Crypto Mining Stocks
• Mining Difficulty Expected to Increase for the First Time Since China Crackdown
• UBS Mulls Offering Prime Brokerage Services for Crypto ETPs to European Hedge Funds: Sources
• Grayscale Bitcoin Trust Discount Narrows as ‘Unlocks’ Pass
• FTX Renames Blockfolio Trading App to … FTX
• Robinhood Under Investigation for Finra Registration Violation
Most digital assets on CoinDesk 20 ended up higher on Wednesday.
Notable winners of 21:00 UTC (4:00 p.m. ET):
xrp(XRP) +12.51%
eos(EOS) +6.43%
uniswap(UNI) +4.77%
Notable losers
the graph(GRT) -0.31%
yearn Finance(YFI) -0.23%
USD Coin(USDC) -0.06%
• Love Bitcoin? Mine Your Values
• Israeli Bill Would Force Crypto Investors to Report Holdings Above $61K || GLOBAL MARKET-US stocks bounce, dollar softens as Fed says recovery on track: (New throughout, updates prices, market activity and comments after Fed's policy meeting)
* S&P 500 up 0.05%, Nasdaq rebounds 0.6%
* European stocks boosted by upbeat earnings
* China blue-chip index closes up 0.2%
* Yuan edges back from three-month lows
* Dollar makes marginal gains
* Fed statement due at 2 p.m. EDT
By Koh Gui Qing and Tom Arnold
NEW YORK/LONDON, July 28 (Reuters) - U.S. stocks edged higher on Wednesday and the dollar slipped into losses after the Federal Reserve said the economic recovery was on track, but offered no clues about when monetary policy will eventually be tightened.
The Fed said after its latest policy meeting that the economy has kept strengthening despite a rise in coronavirus infections, and that accelerating inflation remained the result of "transitory factors".
In a news conference after the meeting, Fed Chairman Jerome Powell said it is not yet time to think about raising interest rates. He said the central bank was thinking about tapering asset purchases but has not set a timetable for when to do so.
"It was a relief that there was no talk of tapering quite yet," said Ryan Detrick, a senior market strategist at LPL Financial in North Carolina. "Our view is the Fed will likely announce when tapering will start at Jackson Hole later in August."
The Dow Jones Industrial Average fell 0.15%, the S&P 500 edged up 0.17%, and the tech-focused Nasdaq Composite rebounded 0.75% after hitting its lowest in more than two months on Tuesday.
Any sign the Fed may tighten policy soon could unnerve markets, since its loose policy has flushed the market with cash and pushed Wall Street to record highs. Also, some investors worry the fast-spreading Delta coronavirus variant may scupper economic growth, and hope the Fed will stand pat for now.
The dollar slipped into losses after the meeting. The U.S. currency had a month-long rally as investors bet a strengthening economy would spark a Fed move to taper to quell inflation pressures.
The dollar index fell 0.18%, and a weaker dollar boosted the euro up 0.22% to $1.184.
Treasury yields climbed after the Fed announcement. The yield on 10-year Treasury notes was up 2.9 basis points to 1.263%, and the yield on 10-year Treasury Inflation-Protected Securities climbed as high as -0.917%, before pulling back to -1.112%.
Investor risk appetite also got a boost from signs that China's stock market might finally be steadying, after being hammered this week by concerns of a widening regulatory crackdown.
Following two sessions of falls, the pan-European STOXX 600 index rose 0.66% and MSCI's gauge of stocks across the globe gained 0.38%.
Chinese blue chips closed up 0.2% overnight, and Hong Kong's benchmark jumped 1.5%, but remained near nine-month lows.
The Chinese yuan also edged back from three-month lows. On Tuesday, it had its biggest daily decline since October. The offshore Chinese yuan strengthened versus the greenback at 6.4894 per dollar.
Oil prices rose after data showed U.S. crude inventories fell more sharply than analysts had forecast.
U.S. crude recently rose 1% to $72.39 per barrel and Brent was at $74.74, up 0.35% on the day.
Gold held steady near $1,800.
Spot gold added 0.2% to $1,802.81 an ounce. U.S. gold futures gained 0.06% to $1,800.80 an ounce.
Cryptocurrency Bitcoin bounced back above $40,000, jumping 2.4% to $40,428.38.
(Reporting by Koh Gui Qing in New York, Tom Arnold in London and Alun John in Hong Kong; Additional reporting by Sujata Rao; Editing by Ana Nicolaci da Costa, Kim Coghill, Catherine Evans, Timothy Heritage, Barbara Lewis and David Gregorio) || GLOBAL MARKET-US stocks bounce, dollar softens as Fed says recovery on track: (New throughout, updates prices, market activity and comments after Fed's policy meeting) * S&P 500 up 0.05%, Nasdaq rebounds 0.6% * European stocks boosted by upbeat earnings * China blue-chip index closes up 0.2% * Yuan edges back from three-month lows * Dollar makes marginal gains * Fed statement due at 2 p.m. EDT By Koh Gui Qing and Tom Arnold NEW YORK/LONDON, July 28 (Reuters) - U.S. stocks edged higher on Wednesday and the dollar slipped into losses after the Federal Reserve said the economic recovery was on track, but offered no clues about when monetary policy will eventually be tightened. The Fed said after its latest policy meeting that the economy has kept strengthening despite a rise in coronavirus infections, and that accelerating inflation remained the result of "transitory factors". In a news conference after the meeting, Fed Chairman Jerome Powell said it is not yet time to think about raising interest rates. He said the central bank was thinking about tapering asset purchases but has not set a timetable for when to do so. "It was a relief that there was no talk of tapering quite yet," said Ryan Detrick, a senior market strategist at LPL Financial in North Carolina. "Our view is the Fed will likely announce when tapering will start at Jackson Hole later in August." The Dow Jones Industrial Average fell 0.15%, the S&P 500 edged up 0.17%, and the tech-focused Nasdaq Composite rebounded 0.75% after hitting its lowest in more than two months on Tuesday. Any sign the Fed may tighten policy soon could unnerve markets, since its loose policy has flushed the market with cash and pushed Wall Street to record highs. Also, some investors worry the fast-spreading Delta coronavirus variant may scupper economic growth, and hope the Fed will stand pat for now. The dollar slipped into losses after the meeting. The U.S. currency had a month-long rally as investors bet a strengthening economy would spark a Fed move to taper to quell inflation pressures. Story continues The dollar index fell 0.18%, and a weaker dollar boosted the euro up 0.22% to $1.184. Treasury yields climbed after the Fed announcement. The yield on 10-year Treasury notes was up 2.9 basis points to 1.263%, and the yield on 10-year Treasury Inflation-Protected Securities climbed as high as -0.917%, before pulling back to -1.112%. Investor risk appetite also got a boost from signs that China's stock market might finally be steadying, after being hammered this week by concerns of a widening regulatory crackdown. Following two sessions of falls, the pan-European STOXX 600 index rose 0.66% and MSCI's gauge of stocks across the globe gained 0.38%. Chinese blue chips closed up 0.2% overnight, and Hong Kong's benchmark jumped 1.5%, but remained near nine-month lows. The Chinese yuan also edged back from three-month lows. On Tuesday, it had its biggest daily decline since October. The offshore Chinese yuan strengthened versus the greenback at 6.4894 per dollar. Oil prices rose after data showed U.S. crude inventories fell more sharply than analysts had forecast. U.S. crude recently rose 1% to $72.39 per barrel and Brent was at $74.74, up 0.35% on the day. Gold held steady near $1,800. Spot gold added 0.2% to $1,802.81 an ounce. U.S. gold futures gained 0.06% to $1,800.80 an ounce. Cryptocurrency Bitcoin bounced back above $40,000, jumping 2.4% to $40,428.38. (Reporting by Koh Gui Qing in New York, Tom Arnold in London and Alun John in Hong Kong; Additional reporting by Sujata Rao; Editing by Ana Nicolaci da Costa, Kim Coghill, Catherine Evans, Timothy Heritage, Barbara Lewis and David Gregorio) || Proactive news headlines including Great Bear Resources, Binovi Technologies, American Battery Metals, The Valens Company and Braxia Scientific: New York , July 28, 2021 (GLOBE NEWSWIRE) -- Proactive, provider of real-time news and video interviews on growth companies listed in the US and Canada, has covered the following companies:
• ESE Entertainment releases details regarding the esports talent show SkillzVault by Bitcoin Vaultclick here
• Todos Medical Ltd hires CRO Innvocept Global Solutions to manage two Tollovir coronavirus trials in Indiaclick here
• Vuzix creates new software-as-a-service based Integration Solutions Business Unitclick here
• PharmaDrug reveals study results showing cepharanthine significantly inhibits cancer cell growth in 20 different cancersclick here
• CanaFarma's Vertical Wellness says it will launch its ‘long anticipated’ line of CBD beverages in US market click here
• CO2 GRO announces CO2 Delivery Solutions commercial feasibility with US-based floriculture greenhouseclick here
• Binovi Technologies continues to execute on its growth strategy as it files its financial statements for the twelve months ended February 28, 2021click here
• Great Bear poised for phase 2 drilling at flagship Dixie project; eyeing maiden resource by first quarter 2022click here
• GlobeX Data continues Sekur US launch with 156 billboards across six New York City subway stationsclick here
• Golden Tag Resources applies for permits to quadruple the drill pads at its San Diego project in Mexicoclick here
• American Battery Metals retains ‘operational leader’ Andrés Meza as chief operating officerclick here
• Vicinity Motor says selected for statewide bus contract in Californiaclick here
• Logiq teams up with GumGum to bring contextual targeting and brand safety to e-commerce marketersclick here
• The Valens Company Inc to manufacture and distribute Harvest One's cannabis-infused topicals across Canadaclick here
• PlantX Life has announced the launch of, XFood its meal delivery service in the United Statesclick here
• Versus Systems Inc launches HP OMEN Rewards in India, the UK and Mexicoclick here
• Braxia Scientific Corp awarded C$918,000 to study effectiveness of ketamine and cognitive behavioural therapy combo in reducing suicidalityclick here
• Vox Royalty doubles its 2021 royalty revenue guidance as the "true earnings power" of its portfolio begins to showclick here
• Ketamine One makes moves on the research front to advance its work on psychedelics and nutraceuticalsclick here
• Gold Resource Corp reports strong year-to-date operating cash flow of $16.1Mclick here
• New Pacific Metals kicks off 38,000 metre diamond drill program at its flagship Silver Sand project in Boliviaclick here
• Empower Clinics launches search for new chief financial officerclick here
• First Mining Gold pens mineral exploration agreement with First Nation community for the Cameron gold projectclick here
• BlueRush appoints Nicole Ballestrin as its new chief financial officerclick here
• KULR Technology wins special DoT permit authorizing the transport of damaged, defective, or recalled lithium-ion batteriesclick here
• First Cobalt announces two-year joint plant study with Timiskaming First Nation at Cobalt camp districtclick here
• XPhyto says its acquisition target 3a-Diagnostics identifies coronavirus biosensor candidatesclick here
About Proactive
With six offices on three continents and a team of experienced business journalists and broadcasters, Proactive works with innovative growth companies quoted on the world’s major stock exchanges, helping executives engage intelligently with investors.
Proactive’s platform delivers the right message to the right audience, digitally and in real time, leveraging a range of media, investment research, digital investor targeting and website development services to support over 1,000 fast-growing companies globally.
Proactive’s network reaches over 12 million engaged private, professional and institutional investors looking for opportunities.
• Our written and video content is published on Proactive sites that collectively attract up to 10 million views per month.
• We syndicate our content to hundreds of mainstream and specialist news sites that expand our reach into networks that can be difficult for press releases to penetrate.
• We custom build corporate websites from the ground up, empowering clients and their brands with a modern online presence and the latest insight on effective SEO strategy
• Our news coverage ranks high on the world’s most popular search platforms, and we can further amplify online presence and outreach with sophisticated digital investor targeting.
• We help the world understand what makes companies stand out from the crowd with in-depth investment research from a team of experienced analysts.
For more information on how Proactive can help you make a difference, email us at action@proactiveinvestors.com || Proactive news headlines including Great Bear Resources, Binovi Technologies, American Battery Metals, The Valens Company and Braxia Scientific: New York , July 28, 2021 (GLOBE NEWSWIRE) -- Proactive, provider of real-time news and video interviews on growth companies listed in the US and Canada, has covered the following companies: ESE Entertainment releases details regarding the esports talent show SkillzVault by Bitcoin Vault click here Todos Medical Ltd hires CRO Innvocept Global Solutions to manage two Tollovir coronavirus trials in India click here Vuzix creates new software-as-a-service based Integration Solutions Business Unit click here PharmaDrug reveals study results showing cepharanthine significantly inhibits cancer cell growth in 20 different cancers click here CanaFarma's Vertical Wellness says it will launch its ‘long anticipated’ line of CBD beverages in US marke t click here CO2 GRO announces CO2 Delivery Solutions commercial feasibility with US-based floriculture greenhouse click here Binovi Technologies continues to execute on its growth strategy as it files its financial statements for the twelve months ended February 28, 2021 click here Great Bear poised for phase 2 drilling at flagship Dixie project; eyeing maiden resource by first quarter 2022 click here GlobeX Data continues Sekur US launch with 156 billboards across six New York City subway stations click here Golden Tag Resources applies for permits to quadruple the drill pads at its San Diego project in Mexico click here American Battery Metals retains ‘operational leader’ Andrés Meza as chief operating officer click here Vicinity Motor says selected for statewide bus contract in California click here Logiq teams up with GumGum to bring contextual targeting and brand safety to e-commerce marketers click here The Valens Company Inc to manufacture and distribute Harvest One's cannabis-infused topicals across Canada click here PlantX Life has announced the launch of, XFood its meal delivery service in the United States click here Versus Systems Inc launches HP OMEN Rewards in India, the UK and Mexico click here Braxia Scientific Corp awarded C$918,000 to study effectiveness of ketamine and cognitive behavioural therapy combo in reducing suicidality click here Vox Royalty doubles its 2021 royalty revenue guidance as the "true earnings power" of its portfolio begins to show click here Ketamine One makes moves on the research front to advance its work on psychedelics and nutraceuticals click here Gold Resource Corp reports strong year-to-date operating cash flow of $16.1M click here New Pacific Metals kicks off 38,000 metre diamond drill program at its flagship Silver Sand project in Bolivia click here Empower Clinics launches search for new chief financial officer click here First Mining Gold pens mineral exploration agreement with First Nation community for the Cameron gold project click here BlueRush appoints Nicole Ballestrin as its new chief financial officer click here KULR Technology wins special DoT permit authorizing the transport of damaged, defective, or recalled lithium-ion batteries click here First Cobalt announces two-year joint plant study with Timiskaming First Nation at Cobalt camp district click here XPhyto says its acquisition target 3a-Diagnostics identifies coronavirus biosensor candidates click here Story continues About Proactive With six offices on three continents and a team of experienced business journalists and broadcasters, Proactive works with innovative growth companies quoted on the world’s major stock exchanges, helping executives engage intelligently with investors. Proactive’s platform delivers the right message to the right audience, digitally and in real time, leveraging a range of media, investment research, digital investor targeting and website development services to support over 1,000 fast-growing companies globally. Proactive’s network reaches over 12 million engaged private, professional and institutional investors looking for opportunities. • Our written and video content is published on Proactive sites that collectively attract up to 10 million views per month. • We syndicate our content to hundreds of mainstream and specialist news sites that expand our reach into networks that can be difficult for press releases to penetrate. • We custom build corporate websites from the ground up, empowering clients and their brands with a modern online presence and the latest insight on effective SEO strategy • Our news coverage ranks high on the world’s most popular search platforms, and we can further amplify online presence and outreach with sophisticated digital investor targeting. • We help the world understand what makes companies stand out from the crowd with in-depth investment research from a team of experienced analysts. For more information on how Proactive can help you make a difference, email us at action@proactiveinvestors.com || US Marshals Service Chooses Anchorage Digital for Custody of Seized Digital Assets: The U.S. Marshals Service (USMS), a part of the Department of Justice, is now using Anchorage Digital for the custody of its trove of tainted seized digital assets. In an announcement Wednesday, Anchorage Digital said after a yearlong bidding process the law enforcement agency USMS Asset Forfeiture Division will be using its custodial services. CoinDesk reported in April that crypto custodian BitGo was set to manage the USMS digital assets under a $4.5 million contract. But that deal appears to have fallen through. Related: Anchorage Adds Custody for Celo’s Euro Stablecoin “We are unable to comment on BitGo, but Anchorage participated in more than a yearlong process, and in the end, we were chosen,” a spokesperson from Anchorage told CoinDesk. “There are many factors at play when it comes to a decision like the DOJ’s.” Among its actions in dismantling organized crime operations, the USMS seizes assets that are the “proceeds of, or [are] used to facilitate, federal crimes.” Recently, the USMS has seized more digital assets in its work. Anchorage Digital said that it will also provide “such activities as accounting, customer management, audit compliance, managing blockchain forks, wallet creation, transformation of token assets into coin assets, etc., as well as future actions associated with the virtual currency forfeiture process.” Related: Anchorage Adds Custody and Staking for Dapper Labs’ FLOW Token Representatives of USMS and BitGo did not immediately respond to CoinDesk. UPDATE (July 28, 18:46 UTC): Updated to clarify description of USMS in the first paragraph. Read more: Anchorage to Custody Digital Securities for Prometheum’s Retail Trading Platform Related Stories Major Law Enforcement Operation Busts 300 Crime Rings, Recovers Millions in Crypto Olympia Financial Scraps Plans to Enter Bitcoin Custody Business || US Marshals Service Chooses Anchorage Digital for Custody of Seized Digital Assets: The U.S. Marshals Service (USMS), a part of the Department of Justice, is now using Anchorage Digital for the custody of its trove of tainted seized digital assets.
In anannouncementWednesday, Anchorage Digital said after a yearlong bidding process the law enforcement agency USMS Asset Forfeiture Division will be using its custodial services.
CoinDeskreportedin April that crypto custodian BitGo was set to manage the USMS digital assets under a $4.5 million contract. But that deal appears to have fallen through.
Related:Anchorage Adds Custody for Celo’s Euro Stablecoin
“We are unable to comment on BitGo, but Anchorage participated in more than a yearlong process, and in the end, we were chosen,” a spokesperson from Anchorage told CoinDesk. “There are many factors at play when it comes to a decision like the DOJ’s.”
Among its actions in dismantling organized crime operations, the USMS seizes assets that are the “proceeds of, or [are] used to facilitate, federal crimes.”
Recently, the USMS has seized more digital assets in its work.
Anchorage Digital said that it will also provide “such activities as accounting, customer management, audit compliance, managing blockchain forks, wallet creation, transformation of token assets into coin assets, etc., as well as future actions associated with the virtual currency forfeiture process.”
Related:Anchorage Adds Custody and Staking for Dapper Labs’ FLOW Token
Representatives of USMS and BitGo did not immediately respond to CoinDesk.
UPDATE (July 28, 18:46 UTC):Updated to clarify description of USMS in the first paragraph.
Read more:Anchorage to Custody Digital Securities for Prometheum’s Retail Trading Platform
• Major Law Enforcement Operation Busts 300 Crime Rings, Recovers Millions in Crypto
• Olympia Financial Scraps Plans to Enter Bitcoin Custody Business
[Social Media Buzz]
None available.
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42235.55, 41626.20, 39974.89, 39201.95, 38152.98, 39747.50, 40869.55, 42816.50, 44555.80, 43798.12
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Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 1929.82, 2228.41, 2318.88, 2273.43, 2817.60, 2667.76, 2810.12, 2730.40, 2754.86, 2576.48, 2529.45, 2671.78, 2809.01, 2726.45, 2757.18, 2875.34, 2718.26, 2710.67, 2804.73, 2895.89, 3252.91, 3213.94, 3378.94, 3419.94, 3342.47, 3381.28, 3650.62, 3884.71, 4073.26, 4325.13, 4181.93, 4376.63, 4331.69, 4160.62, 4193.70, 4087.66, 4001.74, 4100.52, 4151.52, 4334.68, 4371.60, 4352.40, 4382.88, 4382.66, 4579.02, 4565.30, 4703.39, 4892.01, 4578.77, 4582.96, 4236.31, 4376.53, 4597.12, 4599.88, 4228.75, 4226.06, 4122.94, 4161.27, 4130.81, 3882.59, 3154.95, 3637.52, 3625.04, 3582.88, 4065.20, 3924.97, 3905.95, 3631.04, 3630.70, 3792.40, 3682.84, 3926.07, 3892.35, 4200.67, 4174.73, 4163.07, 4338.71, 4403.74, 4409.32, 4317.48, 4229.36, 4328.41, 4370.81, 4426.89, 4610.48, 4772.02, 4781.99, 4826.48, 5446.91, 5647.21.
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[Bitcoin Technical Analysis for 2017-10-13]
Volume: 3615480064, RSI (14-day): 79.85, 50-day EMA: 4225.89, 200-day EMA: 3051.78
[Wider Market Context]
Gold Price: 1301.50, Gold RSI: 55.69
Oil Price: 51.45, Oil RSI: 57.44
[Recent News (last 7 days)]
Retail sales, inflation, big banks — What you need to know in markets on Friday: The busiest day of the week for investors will come on Friday, with key economic data, big bank earnings, and the unlucky date of Friday the 13th looming.
The day’s biggest story will hit markets at 8:30 a.m. ET, when both the retail sales numbers and inflation data for September will be released.
Wall Street is looking for retail sales to rise 0.6% over the prior month, better than the 0.4% jump we saw in August.
Inflation will also be closely watched with this data having disappointed for most of the year, confounding some Federal Reserve officials who have been raising rates even as prices rise slower than the central bank’s 2% per year target.
“Core” inflation — which strips out the cost of food and gas and is the preferred measure used by the Fed — is expected to rise 1.8% over last year in September, up from the 1.7% increase we saw in August.
Also on the economic calendar will be the preliminary reading on consumer sentiment in October from the University of Michigan.
On the earnings side, big banks earnings are expected from Bank of America (BAC) and Wells Fargo (WFC), the second- and third-largest U.S. banks by assets.
Wall Street is looking for Bank of America to earn $0.46 per share on revenue of $21.9 billion while Wells Fargo should earn $1.03 per share on revenue of $22.4 billion.
These results will follow earnings from JP Morgan (JPM) and Citi (C) on Thursday which both beat analyst expectations on the top and bottom line, though both firms noted weakness in their trading segments.
We’d also note that Friday is the 13th of the month, considered a day of bad luck, and one that has actually been a bit worse than average for the S&P 500. LPL Financialnotesthat since 1928, there have been 152 instances of Friday the 13th, and the S&P 500 has averaged an annualized gain of 4.2% on these days, below the 12.8% annualized return the index averages on all Fridays.
Right now, the most interesting thing happening in finance is in the cryptocurrency space.
To those not steeped in the field, watching the price moves and news related to Bitcoin serves as a broad proxy for interest in the space. On Thursday, Bitcoin hit a new record high andtraded above $5,000for the first time.
And while the cryptocurrency evangelists and early adopters will contend that the blockchain technology and its possible uses are way broader than Bitcoin — and, look, these people know a lot more than I do — Bitcoin is the world casual observers know.
And in this case, casual observers include big bank executives.
Recall that back in September JP Morgan CEOJamie Dimon made waveswhen he called Bitcoin a “fraud” and a bubble worse than the tulip bubble of the 1600s. Dimon added that he would fire anyone at JP Morgan he found trading Bitcoin. One of Dimon’s colleagues at JP Morgan, strategist Marko Kolanovic,also said in a note last monththat the cryptocurrency market “exhibits some parallels to fraudulent pyramid schemes.”
On Thursday, Dimon was asked by reporters for his thoughts on Bitcoin and said he was done talking about the cryptocurrency,according to Bloomberg. JP Morgan CFO Marianna Lake, however, was less done talking about cryptocurrencies as a general concept, saying that the bank is, “very open minded to the potential use cases in the future for digital currencies that are properly controlled and regulated.”
This is notable for two reasons: one being that, again, Dimon does not seem to be the biggest fan of this stuff and two, this is essentially a bank calling for regulation. And that is not something you see everyday.
But the commentary out of JP Morgan comes on the heels of Goldman Sachs (GS)reportedlylooking at setting up a trading venue for Bitcoin and other cryptocurrencies. And Goldman Sachs CEO Lloyd Blankfeinsaid on Twitterearlier this month that he was, “still thinking” about Bitcoin wasn’t endorsing or rejecting the concept.
Blankfein added that, “folks also were skeptical when paper money displaced gold.” So, there’s that.
Additionally, Wall Street strategist Tom Lee — mostly known for his calls on the stock market — has spent considerable time in the last few months writing research reports on cryptocurrency and said back in August that he had a $6,000 price target for Bitcoin by mid-2018.
Lee also sees Bitcoin rising to $25,000 by 2022 and his bullish view on the currency is “premised on expanded acceptance of digital currencies (as payment platforms), and ultimately broader adoption as a “store of value” (digital currencies have a lot of characteristics that make gold attractive).”
Now, some cryptocurrency early adopters would argue that Wall Street and banking types are merely covering their butts by caring about the technology now because eventually fiat money will be replaced by digital money. This is certainly a grand vision, and in this vision the rise of Bitcoin poses a systemic risk to the Western banking industrial complex that has predominated since World War II.
But Wall Street’s interest in Bitcoin is also likely driven by the fact that it’s new, it’s interesting, trading this stuff is exciting, and the potential upside is big. There is, at this point, clearly no putting the cryptocurrency genie back in the bottle and a development in how money moves around is something the financial sector cannot miss if it wants to continue being known as the financial sector.
When Bitcoin first entered the public consciousness in 2013, the meme was that all you could do with it was buy drugs online. But in 2017, there is real money to be made and real money being invested in the space. And finding new ways to make money is more or less the whole point of modern finance.
—
Myles Udland is a writer at Yahoo Finance. Follow him on Twitter@MylesUdland
Read more from Myles here:
• Why a new Federal Reserve chair won’t rattle markets
• America’s shortage of workers is about to get ‘much worse’
• The government can’t stop people from making the single-biggest investing mistake
• It’s never been harder to fill a job in America
• Berkshire’s Bank of America win is more proof you can’t invest like Buffett || Stock market outlook, Friday the 13th 2017: The busiest day of the week for investors will come on Friday, with key economic data, big bank earnings, and the unlucky date of Friday the 13th looming. The day’s biggest story will hit markets at 8:30 a.m. ET, when both the retail sales numbers and inflation data for September will be released. Wall Street is looking for retail sales to rise 0.6% over the prior month, better than the 0.4% jump we saw in August. Inflation will also be closely watched with this data having disappointed for most of the year, confounding some Federal Reserve officials who have been raising rates even as prices rise slower than the central bank’s 2% per year target. “Core” inflation — which strips out the cost of food and gas and is the preferred measure used by the Fed — is expected to rise 1.8% over last year in September, up from the 1.7% increase we saw in August. Hot air balloons participating in the Albuquerque International Balloon Fiesta on Tuesday, Oct. 10, 2017. (AP Photo/Susan Montoya Bryan) Also on the economic calendar will be the preliminary reading on consumer sentiment in October from the University of Michigan. On the earnings side, big banks earnings are expected from Bank of America ( BAC ) and Wells Fargo ( WFC ), the second- and third-largest U.S. banks by assets. Wall Street is looking for Bank of America to earn $0.46 per share on revenue of $21.9 billion while Wells Fargo should earn $1.03 per share on revenue of $22.4 billion. These results will follow earnings from JP Morgan ( JPM ) and Citi ( C ) on Thursday which both beat analyst expectations on the top and bottom line, though both firms noted weakness in their trading segments. We’d also note that Friday is the 13th of the month, considered a day of bad luck, and one that has actually been a bit worse than average for the S&P 500. LPL Financial notes that since 1928, there have been 152 instances of Friday the 13th, and the S&P 500 has averaged an annualized gain of 4.2% on these days, below the 12.8% annualized return the index averages on all Fridays. Wall Street can’t stop talking Bitcoin Right now, the most interesting thing happening in finance is in the cryptocurrency space. Story continues To those not steeped in the field, watching the price moves and news related to Bitcoin serves as a broad proxy for interest in the space. On Thursday, Bitcoin hit a new record high and traded above $5,000 for the first time. Bitcoin has gone nuts this year and broke $5,000 for the first time on Thursday. (Source: Yahoo Finance) And while the cryptocurrency evangelists and early adopters will contend that the blockchain technology and its possible uses are way broader than Bitcoin — and, look, these people know a lot more than I do — Bitcoin is the world casual observers know. And in this case, casual observers include big bank executives. Recall that back in September JP Morgan CEO Jamie Dimon made waves when he called Bitcoin a “fraud” and a bubble worse than the tulip bubble of the 1600s. Dimon added that he would fire anyone at JP Morgan he found trading Bitcoin. One of Dimon’s colleagues at JP Morgan, strategist Marko Kolanovic, also said in a note last month that the cryptocurrency market “exhibits some parallels to fraudulent pyramid schemes.” On Thursday, Dimon was asked by reporters for his thoughts on Bitcoin and said he was done talking about the cryptocurrency, according to Bloomberg . JP Morgan CFO Marianna Lake, however, was less done talking about cryptocurrencies as a general concept, saying that the bank is, “very open minded to the potential use cases in the future for digital currencies that are properly controlled and regulated.” This is notable for two reasons: one being that, again, Dimon does not seem to be the biggest fan of this stuff and two, this is essentially a bank calling for regulation. And that is not something you see everyday. But the commentary out of JP Morgan comes on the heels of Goldman Sachs ( GS ) reportedly looking at setting up a trading venue for Bitcoin and other cryptocurrencies. And Goldman Sachs CEO Lloyd Blankfein said on Twitter earlier this month that he was, “still thinking” about Bitcoin wasn’t endorsing or rejecting the concept. Blankfein added that, “folks also were skeptical when paper money displaced gold.” So, there’s that. Goldman Sachs Chairman and CEO Lloyd Blankfein speaks at the Bloomberg Global Business Forum in New York, U.S., September 20, 2017. REUTERS/Brendan McDermid Additionally, Wall Street strategist Tom Lee — mostly known for his calls on the stock market — has spent considerable time in the last few months writing research reports on cryptocurrency and said back in August that he had a $6,000 price target for Bitcoin by mid-2018. Lee also sees Bitcoin rising to $25,000 by 2022 and his bullish view on the currency is “premised on expanded acceptance of digital currencies (as payment platforms), and ultimately broader adoption as a “store of value” (digital currencies have a lot of characteristics that make gold attractive).” Now, some cryptocurrency early adopters would argue that Wall Street and banking types are merely covering their butts by caring about the technology now because eventually fiat money will be replaced by digital money. This is certainly a grand vision, and in this vision the rise of Bitcoin poses a systemic risk to the Western banking industrial complex that has predominated since World War II. But Wall Street’s interest in Bitcoin is also likely driven by the fact that it’s new, it’s interesting, trading this stuff is exciting, and the potential upside is big. There is, at this point, clearly no putting the cryptocurrency genie back in the bottle and a development in how money moves around is something the financial sector cannot miss if it wants to continue being known as the financial sector. When Bitcoin first entered the public consciousness in 2013, the meme was that all you could do with it was buy drugs online. But in 2017, there is real money to be made and real money being invested in the space. And finding new ways to make money is more or less the whole point of modern finance. — Myles Udland is a writer at Yahoo Finance. Follow him on Twitter @MylesUdland Read more from Myles here: Why a new Federal Reserve chair won’t rattle markets America’s shortage of workers is about to get ‘much worse’ The government can’t stop people from making the single-biggest investing mistake It’s never been harder to fill a job in America Berkshire’s Bank of America win is more proof you can’t invest like Buffett || Wall Street Analyst Bernstein: Bitcoin Is a 'Censorship Resistant Asset Class': Bitcoin is a "censorship-resistant asset class" – but not quite money – according to analysts for New York-based firm Bernstein. In a note sent to clients on Wednesday, according to Business Insider , analysts explored that question, ultimately concluding that while it shares some of its characteristics, it falls short under what would be considered "money" today. "Fiat money is still the final form of settlement – governments still collect taxes in fiat money and salaries are still paid in fiat money," the note explained. "Thus, for now, Bitcoin has only emerged as a 'censorship resistant' asset class." The analysts notably reckon that bitcoin's ecosystem functions more like a self-reliant economy than, say, strictly a network of digital money. "Bitcoin could be seen as virtual 'bearer cash' economy supported by a decentralized 'trustless' network – a new crypto economy with its own protocol or policy," the firm wrote in the note. "The faith of its citizens – software developers, miners, investors, early individual and sovereign state adopters [–] would drive the value of that network." Bernstein's determination is unlikely to sway proponents who say cryptocurrencies represent a new form of money. Indeed, it's a sticking point that has drawn both supporters and critics for as long as bitcoin has been in the public eye. Some observers have struck a middle ground in the argument. Last month, investor and anarcho-capitalist Doug Casey argued that while bitcoin might be money, it's not likely to last in the long-run. Image via Shutterstock Related Stories Macquarie Analyst Rejects Jamie Dimon's Bitcoin 'Fraud' Critique || Wall Street Analyst Bernstein: Bitcoin Is a 'Censorship Resistant Asset Class': Bitcoin is a "censorship-resistant asset class" – but not quite money – according to analysts for New York-based firm Bernstein.
In a note sent to clients on Wednesday, according toBusiness Insider, analysts explored that question, ultimately concluding that while it shares some of its characteristics, it falls short under what would be considered "money" today.
"Fiat money is still the final form of settlement – governments still collect taxes in fiat money and salaries are still paid in fiat money," the note explained. "Thus, for now, Bitcoin has only emerged as a 'censorship resistant' asset class."
The analysts notably reckon that bitcoin's ecosystem functions more like a self-reliant economy than, say, strictly a network of digital money.
"Bitcoin could be seen as virtual 'bearer cash' economy supported by a decentralized 'trustless' network – a new crypto economy with its own protocol or policy," the firm wrote in the note. "The faith of its citizens – software developers, miners, investors, early individual and sovereign state adopters [–] would drive the value of that network."
Bernstein's determination is unlikely to sway proponents who say cryptocurrencies represent a new form of money. Indeed, it's a sticking point that has drawn both supporters and critics for as long as bitcoin has been in the public eye.
Some observers have struck a middle ground in the argument. Last month, investor and anarcho-capitalistDoug Caseyargued that while bitcoin might be money, it's not likely to last in the long-run.
Imagevia Shutterstock
• Macquarie Analyst Rejects Jamie Dimon's Bitcoin 'Fraud' Critique || Wall Street Analyst Bernstein: Bitcoin Is a 'Censorship Resistant Asset Class': Bitcoin is a "censorship-resistant asset class" – but not quite money – according to analysts for New York-based firm Bernstein.
In a note sent to clients on Wednesday, according toBusiness Insider, analysts explored that question, ultimately concluding that while it shares some of its characteristics, it falls short under what would be considered "money" today.
"Fiat money is still the final form of settlement – governments still collect taxes in fiat money and salaries are still paid in fiat money," the note explained. "Thus, for now, Bitcoin has only emerged as a 'censorship resistant' asset class."
The analysts notably reckon that bitcoin's ecosystem functions more like a self-reliant economy than, say, strictly a network of digital money.
"Bitcoin could be seen as virtual 'bearer cash' economy supported by a decentralized 'trustless' network – a new crypto economy with its own protocol or policy," the firm wrote in the note. "The faith of its citizens – software developers, miners, investors, early individual and sovereign state adopters [–] would drive the value of that network."
Bernstein's determination is unlikely to sway proponents who say cryptocurrencies represent a new form of money. Indeed, it's a sticking point that has drawn both supporters and critics for as long as bitcoin has been in the public eye.
Some observers have struck a middle ground in the argument. Last month, investor and anarcho-capitalistDoug Caseyargued that while bitcoin might be money, it's not likely to last in the long-run.
Imagevia Shutterstock
• Macquarie Analyst Rejects Jamie Dimon's Bitcoin 'Fraud' Critique || Brainstorm Health: Amazon Pharmacy, DNA Sequencing Future, FDA Chief Speculation: Happy Thursday, Dailies. Been on the road a bit so todays opener will be short and sweet
and, unfortunately, late. Morgan Stanley issued a note Tuesday to clients offering some good reasons why Amazon.com could and should enter the pharmacy business, as CNBCs Meg Tirrell flagged in a tweet yesterday. MS says longer term impact of $AMZN entering pharmacy could be direct relationships w branded pharma = rebates passing back to consumers pic.twitter.com/QnO2dvFa7s Meg Tirrell (@megtirrell) October 11, 2017 (Megs colleague, Chrissy Farr, broke the story that Amazon was seriously considering the move earlier in the month.) The October 10 report, Prime Time for Amazons Entry Into The Drug Supply Chain? by Morgan Stanley equity analyst Ricky Goldwasser and colleagues, points out that the regulatory barriers to entry here are relatively low and that the various markets for dispensing drugs are both fragmented and huge. (MS puts the annual U.S. spend on branded drugs at $255 billion and generics at $115 billion.) But the most provocative takeaway from the client note is how it could disrupt the oft-criticized middlemen in the prescription drug realm, pharmacy benefit managers, or PBMswhich I wrote about recently here . The MS team lays out four hypothetical phases in which Amazon could insert itself into the now-overly-mediated supply chain and ultimately pass along some savings to consumers: The first would be to set up virtual retail pharmacies alongside its dozens of other sales departments, from books and baby products to wine, and then contract directly with generic drug makers to sell their pills. Phase three, establishing direct relationships with branded manufacturers, would be the most critical to changing the marketplace as we know it today, and could take a long time, the MS analysts write. However
if Amazon were successful in changing the brand pricing model to be based on net price versus the current gross model, we estimate a portion of rebates and other supply chain discounts currently being retained by plan sponsors, PBMs, and to a lesser degree drug distributors could pass back to consumers. Story continues So what would consumers lose in the deal? Unfortunately, something enormously valuable, in my opinion: the voice of the independent pharmacist. As I wrote back in January , the old-fashioned neighborhood pharmacist remains one of the most accessible frontline healthcare providers in a lot of old-fashioned American neighborhoods. (Eighty percent of independent pharmacies are in communities of 50,000 residents or fewer.) Amazon getting into this market would likely be a death blow for them, more than it would be for big chains. That would be a big loss, in my view, for American healthcare. DIGITAL HEALTH What will the next 40 years mean of DNA sequencing bring? Genomic sequencing is expanding its reach into both the life sciences and consumer health industries, fueling everything from better-targeted drug development to the rise of at-home tests that reveal the nuances of peoples ancestries. So what will the next four decades hold for genomic sequencing? A trio of scientific experts take a stab at that question in Nature , asserting that [o]ne domain where we are confident that DNA sequencing will be truly transformative is medicine. That includes everything from prenatal testing to in-development liquid biopsies that could reduce cancer screening to a simple blood test. ( Nature ) INDICATIONS Merck ditches cholesterol drug following mediocre trial results. U.S. drug giant Merck is throwing in the towel on anacetrapib, an experimental cholesterol control medication, after mediocre clinical trial results showing just a modest benefit in reducing the risk of heart attacks, strokes, and other cholesterol-related complications. That could be the final nail in the coffin for this particular class of cholesterol therapies called CETP inhibitors. Several Merck rivals had already decided to ditch such treatments even as Merck persisted. ( Sacramento Bee ) Biopharma loves FDA Commissioner Gottlieb. But is he about to get a promotion? Scott Gottlieb is the kind of FDA commissioner that the drug industry loves: a reform-minded administrator whos made the goal of spurring drug approvals by changing regulatory pathways a key goal of his tenure. Now, with rumors swirling that hes on the short list for being the next Health and Human Services (HHS) Secretary (following Tom Prices resignation after a chartered plane scandal), Gottlieb is downplaying the possibility that hes going for the promotion. I feel like I want to continue to follow through on the policies weve put out and [my current role is] where I think I can be most effective, he said in a recent interview. ( The Hill ) THE BIG PICTURE Legal questions abound for Trump health care executive order. President Donald Trump signed an executive order Thursday that would, in essence, sidestep Obamacare regulations and requirements for a type of insurance plan called an association health plan which could be purchased across state lines. The point would be to allow for skimpier insurance that comes with lower premiumsbut also far higher deductibles, fewer mandated benefits, possible discrimination against people with pre-existing conditions, and annual and/or lifetime caps on coverage. However, the planned executive order could run afoul of federal law and would likely face serious challenges in court, according health law expert Nicholas Bagley and others. The specific statute it could violate is the U.S. Employee Retirement Income Security Act (ERISA), which sets up rules for large group plans run by employers or employees. ( Reuters ) REQUIRED READING Paris Wants to Ban the Combustion Engine by 2030 , by Geoffrey Smith Were Going to Fight Like Hell to Protect the Agreement. Business Leaders Try to Save NAFTA , by The Associated Press Kansas City Mayor Reviewed 1,000 Products on Amazon to Promote His HQ2 Bid , by Natasha Bach Bitcoin Just Smashed Through the $5,000 Barrier Again. Heres Why , by David Meyer Produced by Sy Mukherjee @the_sy_guy sayak.mukherjee@fortune.com Find past coverage. Sign up for other Fortune newsletters . || Brainstorm Health: Amazon Pharmacy, DNA Sequencing Future, FDA Chief Speculation: Happy Thursday, Dailies. Been on the road a bit so today’s opener will be short and sweet…and, unfortunately, late.Morgan Stanleyissued a note Tuesday to clients offering some good reasons whyAmazon.comcould and should enter the pharmacy business, as CNBC’sMeg Tirrellflaggedin a tweetyesterday.
(Meg’s colleague, Chrissy Farr,broke the storythat Amazon was seriously considering the move earlier in the month.)
The October 10 report, “Prime Time for Amazon’s Entry Into The Drug Supply Chain?” by Morgan Stanley equity analyst Ricky Goldwasser and colleagues, points out that the regulatory barriers to entry here are relatively low and that the various markets for dispensing drugs are both fragmented and huge. (MS puts the annual U.S. spend on branded drugs at $255 billion and generics at $115 billion.)
But the most provocative takeaway from the client note is how it could disrupt the oft-criticized middlemen in the prescription drug realm, pharmacy benefit managers, or PBMs—which I wrote about recentlyhere.
The MS team lays out “four hypothetical phases” in which Amazon could insert itself into the now-overly-mediated supply chain and ultimately pass along some savings to consumers:
The first would be to set up “virtual retail pharmacies” alongside its dozens of other sales “departments,” from books and baby products to wine, and then contract directly with generic drug makers to sell their pills. “Phase three, establishing direct relationships with branded manufacturers, would be the most critical to changing the marketplace as we know it today, and could take a long time,” the MS analysts write. However…“if Amazon were successful in changing the brand pricing model to be based on ‘net’ price versus the current gross model, we estimate a portion of rebates and other supply chain discounts currently being retained by plan sponsors, PBMs, and to a lesser degree drug distributors could pass back to consumers.”
So what would consumers lose in the deal? Unfortunately, something enormously valuable, in my opinion: the voice of the independent pharmacist. As Iwrote back in January, the old-fashioned neighborhood pharmacist remains one of the most accessible frontline healthcare providers in a lot of old-fashioned American neighborhoods. (Eighty percent of independent pharmacies are in communities of 50,000 residents or fewer.)
Amazon getting into this market would likely be a death blow for them, more than it would be for big chains. That would be a big loss, in my view, for American healthcare.
What will the next 40 years mean of DNA sequencing bring?Genomic sequencing is expanding its reach into both the life sciences and consumer health industries, fueling everything from better-targeted drug development to the rise of at-home tests that reveal the nuances of people’s ancestries. So what will the next four decades hold for genomic sequencing? A trio of scientific experts take a stab at that question inNature, asserting that “[o]ne domain where we are confident that DNA sequencing will be truly transformative is medicine.” That includes everything from prenatal testing to in-development “liquid biopsies” that could reduce cancer screening to a simple blood test.(Nature)
Merck ditches cholesterol drug following mediocre trial results.U.S. drug giant Merck is throwing in the towel on anacetrapib, an experimental cholesterol control medication, after mediocre clinical trial results showing just a modest benefit in reducing the risk of heart attacks, strokes, and other cholesterol-related complications. That could be the final nail in the coffin for this particular class of cholesterol therapies called “CETP inhibitors.” Several Merck rivals had already decided to ditch such treatments even as Merck persisted.(Sacramento Bee)
Biopharma loves FDA Commissioner Gottlieb. But is he about to get a promotion?Scott Gottlieb is the kind of FDA commissioner that the drug industry loves: a reform-minded administrator who’s made the goal of spurring drug approvals by changing regulatory pathways a key goal of his tenure. Now, with rumors swirling that he’s on the short list for being the next Health and Human Services (HHS) Secretary (following Tom Price’s resignation after a chartered plane scandal), Gottlieb is downplaying the possibility that he’s going for the promotion. “I feel like I want to continue to follow through on the policies we’ve put out and [my current role is] where I think I can be most effective,” he said in a recent interview.(The Hill)
Legal questions abound for Trump health care executive order.President Donald Trump signed an executive order Thursday that would, in essence, sidestep Obamacare regulations and requirements for a type of insurance plan called an “association health plan” which could be purchased across state lines. The point would be to allow for skimpier insurance that comes with lower premiums—but also far higher deductibles, fewer mandated benefits, possible discrimination against people with pre-existing conditions, and annual and/or lifetime caps on coverage. However, the planned executive order could run afoul of federal law and would likely face serious challenges in court, according health law expert Nicholas Bagley and others. The specific statute it could violate is the U.S. Employee Retirement Income Security Act (ERISA), which sets up rules for large group plans run by employers or employees.(Reuters)
Paris Wants to Ban the Combustion Engine by 2030,by Geoffrey Smith
‘We’re Going to Fight Like Hell to Protect the Agreement.’ Business Leaders Try to Save NAFTA,by The Associated Press
Kansas City Mayor Reviewed 1,000 Products on Amazon to Promote His HQ2 Bid,by Natasha Bach
Bitcoin Just Smashed Through the $5,000 Barrier Again. Here’s Why,by David Meyer
Produced by Sy Mukherjee@the_sy_guysayak.mukherjee@fortune.comFindpastcoverage. Sign up for otherFortunenewsletters. || Global markets: Inflation weighs on yields, dollar; stocks lacklustre: By Sinead Carew NEW YORK (Reuters) - U.S. Treasury yields dipped and the dollar rose slightly on Thursday as investors awaited U.S. inflation data while Wall Street stock indexes fell as earnings season kicked off with a whimper. U.S. Treasury prices gained after the Treasury Department saw strong demand for a sale of 30-year bonds. While investors cheered an increase in the U.S. producer price index (PPI) for last month announced Thursday, inflation concerns were still in focus ahead of consumer price index (CPI) data on Friday after Federal Reserve minutes showed a more guarded view. After four straight days of declines, the dollar index, tracking the greenback against a basket of major currencies <.DXY>, rose 0.07 percent. "The move in the dollar index this week is primarily a correction to the big move that we had in September," said Marc Chandler, global head of currency strategy at Brown Brothers Harriman. "It's largely corrective as the market awaits fresh signals." Adding to this pressure, sterling jumped to its highest since Oct. 4, with analysts citing a report in Germany's Handelsblatt newspaper that the European Union could offer Britain a two-year transitional Brexit deal. Sterling was last trading at $1.3261, up 0.30 percent on the day. In U.S. stocks, banks and media companies were the biggest drags on the S&P 500 as AT&T Inc fuelled concerns about video subscribers and investors took fright at comments from JPMorgan and Citigroup's earnings calls. "People got a little bit spoiled by the very nice advances we saw in the first and second quarter, but keep in mind that earnings started perking up in the third quarter of last year so the year-over-year comparisons might not look as robust," said John Carey, portfolio manager at Pioneer Investment Management in Boston. The Dow Jones Industrial Average <.DJI> fell 31.88 points, or 0.14 percent, to end at 22,841.01, the S&P 500 <.SPX> lost 4.31 points, or 0.17 percent, to 2,550.93 and the Nasdaq Composite <.IXIC> dropped 12.04 points, or 0.18 percent, to 6,591.51. The pan-European FTSEurofirst 300 index <.FTEU3> rose 0.01 percent and MSCI's gauge of stocks across the globe <.MIWD00000PUS> gained 0.04 percent. The MSCI index reached a record high, as it has for seven of the past eight trading days. Benchmark 10-year notes were last up 7/32 in price to yield 2.3195 percent, from 2.345 percent late on Wednesday. The 30-year bond was last up 15/32 in price to yield 2.8483 percent, from 2.876 percent late on Wednesday. Also in currencies, the euro was down 0.15 percent to $1.1839 snapping four straight days of gains after rising to its highest since Sept. 25 earlier in the session. Bitcoin smashed through the $5,000 barrier for the first time and was up 10.1 percent. Oil prices fell after the U.S. Energy Department reported a larger-than-expected decline in U.S. inventories and a falloff in weekly production. U.S. crude fell 1.29 percent to $50.64 per barrel and Brent was last at $56.32, down 1.09 percent. Spot gold added 0.1 percent to $1,293.37 an ounce. (Additional reporting by Caroline Valetkevitch, Karen Brettell and Saqib Iqbal Ahmed in New York, John Geddie and Dhara Ranasinghe in London and Shinichi Saoshiro in Tokyo; Editing by Bernadette Baum and James Dalgleish) || Global markets: Inflation weighs on yields, dollar; stocks lacklustre: By Sinead Carew NEW YORK (Reuters) - U.S. Treasury yields dipped and the dollar rose slightly on Thursday as investors awaited U.S. inflation data while Wall Street stock indexes fell as earnings season kicked off with a whimper. U.S. Treasury prices gained after the Treasury Department saw strong demand for a sale of 30-year bonds. While investors cheered an increase in the U.S. producer price index (PPI) for last month announced Thursday, inflation concerns were still in focus ahead of consumer price index (CPI) data on Friday after Federal Reserve minutes showed a more guarded view. After four straight days of declines, the dollar index, tracking the greenback against a basket of major currencies <.DXY>, rose 0.07 percent. "The move in the dollar index this week is primarily a correction to the big move that we had in September," said Marc Chandler, global head of currency strategy at Brown Brothers Harriman. "It's largely corrective as the market awaits fresh signals." Adding to this pressure, sterling jumped to its highest since Oct. 4, with analysts citing a report in Germany's Handelsblatt newspaper that the European Union could offer Britain a two-year transitional Brexit deal. Sterling was last trading at $1.3261, up 0.30 percent on the day. In U.S. stocks, banks and media companies were the biggest drags on the S&P 500 as AT&T Inc fuelled concerns about video subscribers and investors took fright at comments from JPMorgan and Citigroup's earnings calls. "People got a little bit spoiled by the very nice advances we saw in the first and second quarter, but keep in mind that earnings started perking up in the third quarter of last year so the year-over-year comparisons might not look as robust," said John Carey, portfolio manager at Pioneer Investment Management in Boston. The Dow Jones Industrial Average <.DJI> fell 31.88 points, or 0.14 percent, to end at 22,841.01, the S&P 500 <.SPX> lost 4.31 points, or 0.17 percent, to 2,550.93 and the Nasdaq Composite <.IXIC> dropped 12.04 points, or 0.18 percent, to 6,591.51. The pan-European FTSEurofirst 300 index <.FTEU3> rose 0.01 percent and MSCI's gauge of stocks across the globe <.MIWD00000PUS> gained 0.04 percent. The MSCI index reached a record high, as it has for seven of the past eight trading days. Benchmark 10-year notes were last up 7/32 in price to yield 2.3195 percent, from 2.345 percent late on Wednesday. The 30-year bond was last up 15/32 in price to yield 2.8483 percent, from 2.876 percent late on Wednesday. Also in currencies, the euro was down 0.15 percent to $1.1839 snapping four straight days of gains after rising to its highest since Sept. 25 earlier in the session. Bitcoin smashed through the $5,000 barrier for the first time and was up 10.1 percent. Oil prices fell after the U.S. Energy Department reported a larger-than-expected decline in U.S. inventories and a falloff in weekly production. U.S. crude fell 1.29 percent to $50.64 per barrel and Brent was last at $56.32, down 1.09 percent. Spot gold added 0.1 percent to $1,293.37 an ounce. (Additional reporting by Caroline Valetkevitch, Karen Brettell and Saqib Iqbal Ahmed in New York, John Geddie and Dhara Ranasinghe in London and Shinichi Saoshiro in Tokyo; Editing by Bernadette Baum and James Dalgleish) || GLOBAL MARKETS-Inflation weighs on yields, dollar; stocks lackluster: * Dollar ekes out gain after four days of declines * Pound reverses course, rises on report about Brexit deal * Wall Street closes lower, weighed down by banks, media (Updates to close) By Sinead Carew NEW YORK, Oct 12 (Reuters) - U.S. Treasury yields dipped and the dollar rose slightly on Thursday as investors awaited U.S. inflation data while Wall Street stock indexes fell as earnings season kicked off with a whimper. U.S. Treasury prices gained after the Treasury Department saw strong demand for a sale of 30-year bonds. While investors cheered an increase in the U.S. producer price index (PPI) for last month announced Thursday, inflation concerns were still in focus ahead of consumer price index (CPI) data on Friday after Federal Reserve minutes showed a more guarded view. After four straight days of declines, the dollar index, tracking the greenback against a basket of major currencies , rose 0.07 percent. "The move in the dollar index this week is primarily a correction to the big move that we had in September," said Marc Chandler, global head of currency strategy at Brown Brothers Harriman. "It's largely corrective as the market awaits fresh signals." Adding to this pressure, sterling jumped to its highest since Oct. 4, with analysts citing a report in Germany's Handelsblatt newspaper that the European Union could offer Britain a two-year transitional Brexit deal. Sterling was last trading at $1.3261, up 0.30 percent on the day. In U.S. stocks, banks and media companies were the biggest drags on the S&P 500 as AT&T Inc fueled concerns about video subscribers and investors took fright at comments from JPMorgan and Citigroup's earnings calls. "People got a little bit spoiled by the very nice advances we saw in the first and second quarter, but keep in mind that earnings started perking up in the third quarter of last year so the year-over-year comparisons might not look as robust," said John Carey, portfolio manager at Pioneer Investment Management in Boston. Story continues The Dow Jones Industrial Average fell 31.88 points, or 0.14 percent, to end at 22,841.01, the S&P 500 lost 4.31 points, or 0.17 percent, to 2,550.93 and the Nasdaq Composite dropped 12.04 points, or 0.18 percent, to 6,591.51. The pan-European FTSEurofirst 300 index rose 0.01 percent and MSCI's gauge of stocks across the globe gained 0.04 percent. The MSCI index reached a record high, as it has for seven of the past eight trading days. Benchmark 10-year notes were last up 7/32 in price to yield 2.3195 percent, from 2.345 percent late on Wednesday. The 30-year bond was last up 15/32 in price to yield 2.8483 percent, from 2.876 percent late on Wednesday. Also in currencies, the euro was down 0.15 percent to $1.1839 snapping four straight days of gains after rising to its highest since Sept. 25 earlier in the session. Bitcoin smashed through the $5,000 barrier for the first time and was up 10.1 percent. Oil prices fell after the U.S. Energy Department reported a larger-than-expected decline in U.S. inventories and a falloff in weekly production. U.S. crude fell 1.29 percent to $50.64 per barrel and Brent was last at $56.32, down 1.09 percent. Spot gold added 0.1 percent to $1,293.37 an ounce. (Additional reporting by Caroline Valetkevitch, Karen Brettell and Saqib Iqbal Ahmed in New York, John Geddie and Dhara Ranasinghe in London and Shinichi Saoshiro in Tokyo; Editing by Bernadette Baum and James Dalgleish) || GLOBAL MARKETS-Inflation weighs on yields, dollar; stocks lackluster: * Dollar ekes out gain after four days of declines
* Pound reverses course, rises on report about Brexit deal
* Wall Street closes lower, weighed down by banks, media (Updates to close)
By Sinead Carew
NEW YORK, Oct 12 (Reuters) - U.S. Treasury yields dipped and the dollar rose slightly on Thursday as investors awaited U.S. inflation data while Wall Street stock indexes fell as earnings season kicked off with a whimper.
U.S. Treasury prices gained after the Treasury Department saw strong demand for a sale of 30-year bonds.
While investors cheered an increase in the U.S. producer price index (PPI) for last month announced Thursday, inflation concerns were still in focus ahead of consumer price index (CPI) data on Friday after Federal Reserve minutes showed a more guarded view.
After four straight days of declines, the dollar index, tracking the greenback against a basket of major currencies , rose 0.07 percent.
"The move in the dollar index this week is primarily a correction to the big move that we had in September," said Marc Chandler, global head of currency strategy at Brown Brothers Harriman. "It's largely corrective as the market awaits fresh signals."
Adding to this pressure, sterling jumped to its highest since Oct. 4, with analysts citing a report in Germany's Handelsblatt newspaper that the European Union could offer Britain a two-year transitional Brexit deal. Sterling was last trading at $1.3261, up 0.30 percent on the day.
In U.S. stocks, banks and media companies were the biggest drags on the S&P 500 as AT&T Inc fueled concerns about video subscribers and investors took fright at comments from JPMorgan and Citigroup's earnings calls.
"People got a little bit spoiled by the very nice advances we saw in the first and second quarter, but keep in mind that earnings started perking up in the third quarter of last year so the year-over-year comparisons might not look as robust," said John Carey, portfolio manager at Pioneer Investment Management in Boston.
The Dow Jones Industrial Average fell 31.88 points, or 0.14 percent, to end at 22,841.01, the S&P 500 lost 4.31 points, or 0.17 percent, to 2,550.93 and the Nasdaq Composite dropped 12.04 points, or 0.18 percent, to 6,591.51.
The pan-European FTSEurofirst 300 index rose 0.01 percent and MSCI's gauge of stocks across the globe gained 0.04 percent. The MSCI index reached a record high, as it has for seven of the past eight trading days.
Benchmark 10-year notes were last up 7/32 in price to yield 2.3195 percent, from 2.345 percent late on Wednesday.
The 30-year bond was last up 15/32 in price to yield 2.8483 percent, from 2.876 percent late on Wednesday.
Also in currencies, the euro was down 0.15 percent to $1.1839 snapping four straight days of gains after rising to its highest since Sept. 25 earlier in the session.
Bitcoin smashed through the $5,000 barrier for the first time and was up 10.1 percent.
Oil prices fell after the U.S. Energy Department reported a larger-than-expected decline in U.S. inventories and a falloff in weekly production.
U.S. crude fell 1.29 percent to $50.64 per barrel and Brent was last at $56.32, down 1.09 percent.
Spot gold added 0.1 percent to $1,293.37 an ounce.
(Additional reporting by Caroline Valetkevitch, Karen Brettell and Saqib Iqbal Ahmed in New York, John Geddie and Dhara Ranasinghe in London and Shinichi Saoshiro in Tokyo; Editing by Bernadette Baum and James Dalgleish) || Bitcoin surges past $5,300 'as bulls returned to the market with a vengeance': (Bitcoin was on a tear Thursday.MI)
Bitcoinsoaredpast $5,000for the first time early Thursday morning and it continued to hit new heights throughout the trading day.
The red-hot digital currency, which is up more than 400% this year, blew past $5,300 to $5,382 just after 12 p.m. ET. Sell-off pressure has since pushed the coin back down below $5,300.
It is still up near 10% Thursday.
The $5,000 mark has long been a threshold of high-anticipation in the bitcoin community. Traders got a taste of it in early September when bitcoin hit ahigh of $4,921, according to data from Bloomberg.
Soon after that, its price declined amid news of acrackdown in Chinaand regulatory uncertainty around initial coin offerings, a cryptocurrency-based fundraising method. After bottoming out near $2,900 per coin on September 15, it has since rallied.
That has come as no surprise to folks in the bitcoin community, who say government regulations and crackdowns on the coin have little impact on its underpinning technology or its price.
“Bitcoin was designed to operate outside of the influence of governments and central banks, and is doing exactly that," said Iqbal V. Gandham, a managing director at eToro UK. "So to us, this bounce back in price is no surprise."
Josh Olszwicz, a bitcoin trader, told Business Insider during an interview in mid-September that the markets ignored news out of China because it didn't impact the coin's actualblockchain technology.
"If it doesn't affect the protocol, then it's not a real problem," he told Business Insider."The bitcoin cash shakeup was much more worrisome from my perspective, but even then the core bitcoin protocol remained unaffected."
Bitcoin has seen its value increase by more than $1,000 per coin in the past week alone, with a rally that coincides with renewed interest in the currency from investment banks. The Wall Street Journal last week reported thatGoldman Sachs was looking at setting up a bitcoin trading operation, and Morgan Stanley CEO James Gorman said recently that thecryptocurrency was "certainly more than just a fad."
The day's rise comes "as bulls returned to the market with a vengeance," according to Neil Wilson, a senior analyst at ETX Capital.
NOW WATCH:Debating the odds of a stock market correction
More From Business Insider
• KEN ROGOFF: Bitcoin will eventually collapse
• Is bitcoin a bubble or the future of everything?
• THE BOTTOM LINE: The bitcoin debate, stretched stock valuations and PGIM's David Hunt || Bitcoin surges past $5,300 'as bulls returned to the market with a vengeance': Screen Shot 2017 10 12 at 3.12.29 PM (Bitcoin was on a tear Thursday.MI) Bitcoin soared past $5,000 for the first time early Thursday morning and it continued to hit new heights throughout the trading day. The red-hot digital currency, which is up more than 400% this year, blew past $5,300 to $5,382 just after 12 p.m. ET. Sell-off pressure has since pushed the coin back down below $5,300. It is still up near 10% Thursday. The $5,000 mark has long been a threshold of high-anticipation in the bitcoin community. Traders got a taste of it in early September when bitcoin hit a high of $4,921, according to data from Bloomberg. Soon after that, its price declined amid news of a crackdown in China and regulatory uncertainty around initial coin offerings, a cryptocurrency-based fundraising method. After bottoming out near $2,900 per coin on September 15, it has since rallied. That has come as no surprise to folks in the bitcoin community, who say government regulations and crackdowns on the coin have little impact on its underpinning technology or its price. Bitcoin was designed to operate outside of the influence of governments and central banks, and is doing exactly that," said Iqbal V. Gandham, a managing director at eToro UK. "So to us, this bounce back in price is no surprise." Josh Olszwicz, a bitcoin trader, told Business Insider during an interview in mid-September that the markets ignored news out of China because it didn't impact the coin's actual blockchain technology . "If it doesn't affect the protocol, then it's not a real problem," he told Business Insider."The bitcoin cash shakeup was much more worrisome from my perspective, but even then the core bitcoin protocol remained unaffected." Bitcoin has seen its value increase by more than $1,000 per coin in the past week alone, with a rally that coincides with renewed interest in the currency from investment banks. The Wall Street Journal last week reported that Goldman Sachs was looking at setting up a bitcoin trading operation , and Morgan Stanley CEO James Gorman said recently that the cryptocurrency was "certainly more than just a fad." Story continues The day's rise comes "as bulls returned to the market with a vengeance," according to Neil Wilson, a senior analyst at ETX Capital. NOW WATCH: Debating the odds of a stock market correction More From Business Insider KEN ROGOFF: Bitcoin will eventually collapse Is bitcoin a bubble or the future of everything? THE BOTTOM LINE: The bitcoin debate, stretched stock valuations and PGIM's David Hunt || Bitcoin surges past $5,300 'as bulls returned to the market with a vengeance': (Bitcoin was on a tear Thursday.MI)
Bitcoinsoaredpast $5,000for the first time early Thursday morning and it continued to hit new heights throughout the trading day.
The red-hot digital currency, which is up more than 400% this year, blew past $5,300 to $5,382 just after 12 p.m. ET. Sell-off pressure has since pushed the coin back down below $5,300.
It is still up near 10% Thursday.
The $5,000 mark has long been a threshold of high-anticipation in the bitcoin community. Traders got a taste of it in early September when bitcoin hit ahigh of $4,921, according to data from Bloomberg.
Soon after that, its price declined amid news of acrackdown in Chinaand regulatory uncertainty around initial coin offerings, a cryptocurrency-based fundraising method. After bottoming out near $2,900 per coin on September 15, it has since rallied.
That has come as no surprise to folks in the bitcoin community, who say government regulations and crackdowns on the coin have little impact on its underpinning technology or its price.
“Bitcoin was designed to operate outside of the influence of governments and central banks, and is doing exactly that," said Iqbal V. Gandham, a managing director at eToro UK. "So to us, this bounce back in price is no surprise."
Josh Olszwicz, a bitcoin trader, told Business Insider during an interview in mid-September that the markets ignored news out of China because it didn't impact the coin's actualblockchain technology.
"If it doesn't affect the protocol, then it's not a real problem," he told Business Insider."The bitcoin cash shakeup was much more worrisome from my perspective, but even then the core bitcoin protocol remained unaffected."
Bitcoin has seen its value increase by more than $1,000 per coin in the past week alone, with a rally that coincides with renewed interest in the currency from investment banks. The Wall Street Journal last week reported thatGoldman Sachs was looking at setting up a bitcoin trading operation, and Morgan Stanley CEO James Gorman said recently that thecryptocurrency was "certainly more than just a fad."
The day's rise comes "as bulls returned to the market with a vengeance," according to Neil Wilson, a senior analyst at ETX Capital.
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• KEN ROGOFF: Bitcoin will eventually collapse
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• THE BOTTOM LINE: The bitcoin debate, stretched stock valuations and PGIM's David Hunt || After bitcoin rebounds to record high, reinvigorated investors bet on even bigger gains: Confidence in future gains for bitcoin (Exchange: BTC=) remained high Thursday, even after the digital currency added nearly $400 in one day to hit a record. The fact that bitcoin was able to hit an all-time high just weeks after a slew of negative news "signals to investors and traders that bitcoin is 'unkillable,' or at least remarkably resilient," said Ari Paul, chief investment officer at cryptocurrency investment firm BlockTower Capital.Bitcoin has surged 450 percent this year to above $5,300 despite a split into bitcoin and bitcoin cash in August, heavy-handed Chinese regulation on digital currencies in early September and critical remarks from major Wall Street leaders.If that history is any guide, investors are betting events in the next several weeks will bring further gains for bitcoin.Due to disagreements among developers on the best upgrade model for bitcoin, the digital currency is scheduled to split, or fork, as many as two times in November. One upgrade, called SegWit2x, intends to increase bitcoin transactions speeds. The other, Bitcoin Gold, seeks to make the process of "mining" or generating bitcoins less dependent on specialized technology.The original bitcoin will still trade after the splits, and investors in the digital currency at the time of a split should receive an equal amount of the new coin. Analysts also noted that investors were buying bitcoin in anticipation of receiving the offshoot coins from a split.Alex Sunnarborg, founding partner of cryptocurrency fund Tetras Capital, pointed out that more developers are withdrawing support for the SegWit2x upgrade, indicating that the original bitcoin will remain dominant."With news around structured products, derivatives, and major institutional capital looking at the most liquid and established asset on the horizon," he said, "I remain extremely bullish on bitcoin and think we have significant further upside potential."That said, few exchanges initially supported the offshoot bitcoin cash. The digital currency traded Thursday around $300, still a fraction of the original bitcoin's price.Digital currency market watchers like Michael Novogratz, former macro hedge fund manager at Fortress Investment, have also cautioned that bitcoin shows signs of forming a bubble. But Novogratz said Tuesday on CNBC's " Fast Money " that increased interest from investors will likely send bitcoin several thousand dollars higher to above $10,000 in the next six to 10 months. Novogratz himself is also launching a $500 million fund to invest in digital assets, which would be the largest of its kind. Financial research firm Autonomous Next estimates about 75 such "crytpo-funds" now exist. "We think cryptocurrencies are suitable tools for diversifying portfolios. And lots of trading firms are waking up to this fact," said Nick Kirk, quantitative developer and data scientist at Cypher Capital, a cyrptocurrency trading firm.Other news Thursday added to positive sentiment on bitcoin.A major U.S. digital currency exchange, Coinbase, announced Thursday it is rolling out instant bitcoin, ethereum and litecoin purchases of up to $25,000 from U.S. bank accounts. Previously, customers using their bank accounts to buy the digital currencies had to wait several days to receive them. JPMorgan Chase (NYSE: JPM) Chairman and CEO Jamie Dimon also said during a conference call with media Thursday he is "not going to talk about bitcoin anymore," after calling it a "fraud" in September. The bank's chief financial officer, Marianne Lake, added that JPMorgan is "open-minded" about digital currencies that are properly regulated. Bitcoin climbed 11 percent to a record high of $5,386.23 Thursday, according to CoinDesk.Heavy buying from Asian investors has also supported bitcoin's price gains. Demand for bitcoin in Japanese yen accounted for nearly 60 percent of trading volume Thursday, according to data from industry website CryptoCompare. South Korean won-denominated bitcoin trading accounted for 8 percent of volume, while U.S. dollar-bitcoin trade accounted for about 26 percent, data on the website showed.Even the Chinese yuan held about 1.5 percent of bitcoin trading volume, despite the closing of many Chinese digital currency exchanges last month due to pressure from the government.A widely circulated commentary piece from China's state-backed news agency Xinhua last week also raised the possibility of China allowing bitcoin exchanges to operate under licenses.WATCH: What happens to your bitcoins when you die Confidence in future gains for bitcoin (Exchange: BTC=) remained high Thursday, even after the digital currency added nearly $400 in one day to hit a record. The fact that bitcoin was able to hit an all-time high just weeks after a slew of negative news "signals to investors and traders that bitcoin is 'unkillable,' or at least remarkably resilient," said Ari Paul, chief investment officer at cryptocurrency investment firm BlockTower Capital. Bitcoin has surged 450 percent this year to above $5,300 despite a split into bitcoin and bitcoin cash in August, heavy-handed Chinese regulation on digital currencies in early September and critical remarks from major Wall Street leaders. If that history is any guide, investors are betting events in the next several weeks will bring further gains for bitcoin. Due to disagreements among developers on the best upgrade model for bitcoin, the digital currency is scheduled to split, or fork, as many as two times in November. One upgrade, called SegWit2x, intends to increase bitcoin transactions speeds. The other, Bitcoin Gold, seeks to make the process of "mining" or generating bitcoins less dependent on specialized technology. The original bitcoin will still trade after the splits, and investors in the digital currency at the time of a split should receive an equal amount of the new coin. Analysts also noted that investors were buying bitcoin in anticipation of receiving the offshoot coins from a split. Alex Sunnarborg, founding partner of cryptocurrency fund Tetras Capital, pointed out that more developers are withdrawing support for the SegWit2x upgrade, indicating that the original bitcoin will remain dominant. "With news around structured products, derivatives, and major institutional capital looking at the most liquid and established asset on the horizon," he said, "I remain extremely bullish on bitcoin and think we have significant further upside potential." That said, few exchanges initially supported the offshoot bitcoin cash. The digital currency traded Thursday around $300, still a fraction of the original bitcoin's price. Digital currency market watchers like Michael Novogratz, former macro hedge fund manager at Fortress Investment, have also cautioned that bitcoin shows signs of forming a bubble. But Novogratz said Tuesday on CNBC's " Fast Money " that increased interest from investors will likely send bitcoin several thousand dollars higher to above $10,000 in the next six to 10 months. Novogratz himself is also launching a $500 million fund to invest in digital assets, which would be the largest of its kind. Financial research firm Autonomous Next estimates about 75 such "crytpo-funds" now exist. "We think cryptocurrencies are suitable tools for diversifying portfolios. And lots of trading firms are waking up to this fact," said Nick Kirk, quantitative developer and data scientist at Cypher Capital, a cyrptocurrency trading firm. Other news Thursday added to positive sentiment on bitcoin. A major U.S. digital currency exchange, Coinbase, announced Thursday it is rolling out instant bitcoin, ethereum and litecoin purchases of up to $25,000 from U.S. bank accounts. Previously, customers using their bank accounts to buy the digital currencies had to wait several days to receive them. JPMorgan Chase (NYSE: JPM) Chairman and CEO Jamie Dimon also said during a conference call with media Thursday he is "not going to talk about bitcoin anymore," after calling it a "fraud" in September. The bank's chief financial officer, Marianne Lake, added that JPMorgan is "open-minded" about digital currencies that are properly regulated. Bitcoin climbed 11 percent to a record high of $5,386.23 Thursday, according to CoinDesk. Heavy buying from Asian investors has also supported bitcoin's price gains. Demand for bitcoin in Japanese yen accounted for nearly 60 percent of trading volume Thursday, according to data from industry website CryptoCompare. South Korean won-denominated bitcoin trading accounted for 8 percent of volume, while U.S. dollar-bitcoin trade accounted for about 26 percent, data on the website showed. Even the Chinese yuan held about 1.5 percent of bitcoin trading volume, despite the closing of many Chinese digital currency exchanges last month due to pressure from the government. A widely circulated commentary piece from China's state-backed news agency Xinhua last week also raised the possibility of China allowing bitcoin exchanges to operate under licenses. WATCH: What happens to your bitcoins when you die More From CNBC Hurricanes could boost inflation and retail sales Trump expected to disavow Iran nuclear deal, creating unease in the oil market Top payments analyst sees "momentum" in blockchain, still likes credit cards || After bitcoin rebounds to record high, reinvigorated investors bet on even bigger gains: Confidence in future gains for bitcoin (Exchange: BTC=) remained high Thursday, even after the digital currency added nearly $400 in one day to hit a record. The fact that bitcoin was able to hit an all-time high just weeks after a slew of negative news "signals to investors and traders that bitcoin is 'unkillable,' or at least remarkably resilient," said Ari Paul, chief investment officer at cryptocurrency investment firm BlockTower Capital.Bitcoin has surged 450 percent this year to above $5,300 despite a split into bitcoin and bitcoin cash in August, heavy-handed Chinese regulation on digital currencies in early September and critical remarks from major Wall Street leaders.If that history is any guide, investors are betting events in the next several weeks will bring further gains for bitcoin.Due to disagreements among developers on the best upgrade model for bitcoin, the digital currency is scheduled to split, or fork, as many as two times in November. One upgrade, called SegWit2x, intends to increase bitcoin transactions speeds. The other, Bitcoin Gold, seeks to make the process of "mining" or generating bitcoins less dependent on specialized technology.The original bitcoin will still trade after the splits, and investors in the digital currency at the time of a split should receive an equal amount of the new coin. Analysts also noted that investors were buying bitcoin in anticipation of receiving the offshoot coins from a split.Alex Sunnarborg, founding partner of cryptocurrency fund Tetras Capital, pointed out that more developers are withdrawing support for the SegWit2x upgrade, indicating that the original bitcoin will remain dominant."With news around structured products, derivatives, and major institutional capital looking at the most liquid and established asset on the horizon," he said, "I remain extremely bullish on bitcoin and think we have significant further upside potential."That said, few exchanges initially supported the offshoot bitcoin cash. The digital currency traded Thursday around $300, still a fraction of the original bitcoin's price.Digital currency market watchers like Michael Novogratz, former macro hedge fund manager at Fortress Investment, have also cautioned that bitcoin shows signs of forming a bubble. But Novogratz said Tuesday on CNBC's " Fast Money " that increased interest from investors will likely send bitcoin several thousand dollars higher to above $10,000 in the next six to 10 months. Novogratz himself is also launching a $500 million fund to invest in digital assets, which would be the largest of its kind. Financial research firm Autonomous Next estimates about 75 such "crytpo-funds" now exist. "We think cryptocurrencies are suitable tools for diversifying portfolios. And lots of trading firms are waking up to this fact," said Nick Kirk, quantitative developer and data scientist at Cypher Capital, a cyrptocurrency trading firm.Other news Thursday added to positive sentiment on bitcoin.A major U.S. digital currency exchange, Coinbase, announced Thursday it is rolling out instant bitcoin, ethereum and litecoin purchases of up to $25,000 from U.S. bank accounts. Previously, customers using their bank accounts to buy the digital currencies had to wait several days to receive them. JPMorgan Chase (NYSE: JPM) Chairman and CEO Jamie Dimon also said during a conference call with media Thursday he is "not going to talk about bitcoin anymore," after calling it a "fraud" in September. The bank's chief financial officer, Marianne Lake, added that JPMorgan is "open-minded" about digital currencies that are properly regulated. Bitcoin climbed 11 percent to a record high of $5,386.23 Thursday, according to CoinDesk.Heavy buying from Asian investors has also supported bitcoin's price gains. Demand for bitcoin in Japanese yen accounted for nearly 60 percent of trading volume Thursday, according to data from industry website CryptoCompare. South Korean won-denominated bitcoin trading accounted for 8 percent of volume, while U.S. dollar-bitcoin trade accounted for about 26 percent, data on the website showed.Even the Chinese yuan held about 1.5 percent of bitcoin trading volume, despite the closing of many Chinese digital currency exchanges last month due to pressure from the government.A widely circulated commentary piece from China's state-backed news agency Xinhua last week also raised the possibility of China allowing bitcoin exchanges to operate under licenses.WATCH: What happens to your bitcoins when you die Confidence in future gains for bitcoin (Exchange: BTC=) remained high Thursday, even after the digital currency added nearly $400 in one day to hit a record. The fact that bitcoin was able to hit an all-time high just weeks after a slew of negative news "signals to investors and traders that bitcoin is 'unkillable,' or at least remarkably resilient," said Ari Paul, chief investment officer at cryptocurrency investment firm BlockTower Capital. Bitcoin has surged 450 percent this year to above $5,300 despite a split into bitcoin and bitcoin cash in August, heavy-handed Chinese regulation on digital currencies in early September and critical remarks from major Wall Street leaders. If that history is any guide, investors are betting events in the next several weeks will bring further gains for bitcoin. Due to disagreements among developers on the best upgrade model for bitcoin, the digital currency is scheduled to split, or fork, as many as two times in November. One upgrade, called SegWit2x, intends to increase bitcoin transactions speeds. The other, Bitcoin Gold, seeks to make the process of "mining" or generating bitcoins less dependent on specialized technology. The original bitcoin will still trade after the splits, and investors in the digital currency at the time of a split should receive an equal amount of the new coin. Analysts also noted that investors were buying bitcoin in anticipation of receiving the offshoot coins from a split. Alex Sunnarborg, founding partner of cryptocurrency fund Tetras Capital, pointed out that more developers are withdrawing support for the SegWit2x upgrade, indicating that the original bitcoin will remain dominant. "With news around structured products, derivatives, and major institutional capital looking at the most liquid and established asset on the horizon," he said, "I remain extremely bullish on bitcoin and think we have significant further upside potential." That said, few exchanges initially supported the offshoot bitcoin cash. The digital currency traded Thursday around $300, still a fraction of the original bitcoin's price. Digital currency market watchers like Michael Novogratz, former macro hedge fund manager at Fortress Investment, have also cautioned that bitcoin shows signs of forming a bubble. But Novogratz said Tuesday on CNBC's " Fast Money " that increased interest from investors will likely send bitcoin several thousand dollars higher to above $10,000 in the next six to 10 months. Novogratz himself is also launching a $500 million fund to invest in digital assets, which would be the largest of its kind. Financial research firm Autonomous Next estimates about 75 such "crytpo-funds" now exist. "We think cryptocurrencies are suitable tools for diversifying portfolios. And lots of trading firms are waking up to this fact," said Nick Kirk, quantitative developer and data scientist at Cypher Capital, a cyrptocurrency trading firm. Other news Thursday added to positive sentiment on bitcoin. A major U.S. digital currency exchange, Coinbase, announced Thursday it is rolling out instant bitcoin, ethereum and litecoin purchases of up to $25,000 from U.S. bank accounts. Previously, customers using their bank accounts to buy the digital currencies had to wait several days to receive them. JPMorgan Chase (NYSE: JPM) Chairman and CEO Jamie Dimon also said during a conference call with media Thursday he is "not going to talk about bitcoin anymore," after calling it a "fraud" in September. The bank's chief financial officer, Marianne Lake, added that JPMorgan is "open-minded" about digital currencies that are properly regulated. Bitcoin climbed 11 percent to a record high of $5,386.23 Thursday, according to CoinDesk. Heavy buying from Asian investors has also supported bitcoin's price gains. Demand for bitcoin in Japanese yen accounted for nearly 60 percent of trading volume Thursday, according to data from industry website CryptoCompare. South Korean won-denominated bitcoin trading accounted for 8 percent of volume, while U.S. dollar-bitcoin trade accounted for about 26 percent, data on the website showed. Even the Chinese yuan held about 1.5 percent of bitcoin trading volume, despite the closing of many Chinese digital currency exchanges last month due to pressure from the government. A widely circulated commentary piece from China's state-backed news agency Xinhua last week also raised the possibility of China allowing bitcoin exchanges to operate under licenses. WATCH: What happens to your bitcoins when you dieMore From CNBC
• Hurricanes could boost inflation and retail sales
• Trump expected to disavow Iran nuclear deal, creating unease in the oil market
• Top payments analyst sees "momentum" in blockchain, still likes credit cards || What You Need to Know About Bank of America Corp (BAC) Stock Ahead of Earnings: The bank stock earnings reports are the unofficial kickoff to earnings season.Citigroup Inc(NYSE:C) andJPMorgan Chase & Co.(NYSE:JPM) will get things started Thursday.Bank of America Corp(NYSE:BAC) will joinWells Fargo & Co(NYSE:WFC) on Friday before the bell. So what can we expect of BAC stock?
Source: Shutterstock
Analysts expect earnings of 46 cents per share on $21.94 billion in revenue. While this would represent sales growth of just 0.4%, it would mean more than 12% earnings per share growth. For the year, analysts expect 5.5% sales growth and a whopping 20% earnings growth.
• 5 Bitcoin Stocks to Buy for Low-Risk Cryptocurrency Profits
Earnings will obviously be the big driver for BAC stock over the next few days. But there is another catalyst to note. On Wednesday, the Fed released its minutes statement. As it stands, the Fed seemslikely to raise interest ratesfor the third time in a year this December. Investors’ hopes have dwindled over the months about whether the Fed would raise rates again. Those concerns linger for 2018, but as it stands, a December hike is likely.
InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Companies like Bank of America depend on higher interest rates because higher interest rates essentially translate to risk-free income, as BAC can make money on customers’ deposits. While the interest is small, it adds up quickly when the asset base is in the billions.
BAC stock has been on an absolute tear, ripping more than 60% over the past 12 months. Part of that has been because of higher rates, but largely, it’s on the back of a stronger economy and better earnings. While a strong economy translates to gains for cyclical stocks likeFord Motor Company(NYSE:F),General Motors Company(NYSE:GM),BoeingCo(NYSE:BA) and others, banks are a winner too.
Corporate lending, consumer borrowing and more money flow all translate to profits for the banks. Additionally, a stronger economy tends to be accompanied by higher rates, and it’s no surprise to see BAC, JPM,Goldman Sachs Group Inc(NYSE:GS) and others moving higher as a result.
Despite such a large rally over the past year, one could argue that BAC stock isn’t overvalued. In fact, one could argue that it’s actually cheap!
For years, most of the bank stocks traded with a sub-1 price-to-book (P/B) ratio. In theory, a P/B ratio of 0.5 meant that if the company were to liquidate today, its stock price should double (to equal a P/B of 1). Because of the financial fallout and the carnage associated with the Great Recession though, these banks traded with a P/B ratio below 1.
BAC stock now trades with a P/B ratio of 1.04. While that may remove the asset-value catalyst, its price-to-earnings (P/E) ratio sure is attractive. Trading with a trailing P/E ratio of just 15.3 and a forward P/E ratio of 12, BAC stock isn’t all that expensive. That’s especially true for a company expected to grow earnings 20% this year and another 19.4% next year.
Click to Enlarge
First, investors must determine if they are investing in Bank of America or trading it. As a trader, I would not take a new position ahead of earnings. Even as an investor, one must be aware of these earnings dates.
With that said, should BAC earn what analysts expect this year ($1.80 per share) and should it maintain its trailing P/E ratio of 15.3, one could make a case that BAC stock will hit $27.50, up about 8% from current levels. Should that valuation stick through fiscal 2018 and Bank of America earn $2.15 as analysts expect, one could argue shares will be worth almost $33.
That’s all assuming BAC stock maintains its current valuation. Admittedly, it could wind up with a lower valuation. But in an era where the economy is improving and sales and earnings are growing, I don’t expect much contraction on the valuation front. If anything, one could argue for a higher valuation, given its near 20% earnings growth. On that note, BAC stockshouldtrade for more than 12 times forward earnings.
And don’t forget about its near-2% dividend yield.
On the charts, we’re looking at $25 to $25.50 as a big level of support. The only problem? Earnings. If the report is ill-received, using a stop-loss at this level may be all for naught, as BAC stock could gap right below this level. In any regard, see if BAC stock can hold this level on a closing basis post-earnings.
• Bank of America's (BAC) Buy Rating Affirmed
If BAC stock falls, it’s one to buy on the pullback, depending on where it lands.
Bret Kenwell is the manager and author ofFuture Blue Chipsand is on Twitter@BretKenwell. As of this writing, Bret Kenwell did not hold a position in any of the aforementioned securities.
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• Why Bank of America (BAC) Will Continue to Rise: 2 Charts
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The postWhat You Need to Know About Bank of America Corp (BAC) Stock Ahead of Earningsappeared first onInvestorPlace. || What You Need to Know About Bank of America Corp (BAC) Stock Ahead of Earnings: The bank stock earnings reports are the unofficial kickoff to earnings season. Citigroup Inc (NYSE: C ) and JPMorgan Chase & Co. (NYSE: JPM ) will get things started Thursday. Bank of America Corp (NYSE: BAC ) will join Wells Fargo & Co (NYSE: WFC ) on Friday before the bell. So what can we expect of BAC stock? What You Need to Know About BAC Stock Ahead of Earnings Source: Shutterstock Analysts expect earnings of 46 cents per share on $21.94 billion in revenue. While this would represent sales growth of just 0.4%, it would mean more than 12% earnings per share growth. For the year, analysts expect 5.5% sales growth and a whopping 20% earnings growth. 5 Bitcoin Stocks to Buy for Low-Risk Cryptocurrency Profits Aside From BAC Earnings Earnings will obviously be the big driver for BAC stock over the next few days. But there is another catalyst to note. On Wednesday, the Fed released its minutes statement. As it stands, the Fed seems likely to raise interest rates for the third time in a year this December. Investors’ hopes have dwindled over the months about whether the Fed would raise rates again. Those concerns linger for 2018, but as it stands, a December hike is likely. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Companies like Bank of America depend on higher interest rates because higher interest rates essentially translate to risk-free income, as BAC can make money on customers’ deposits. While the interest is small, it adds up quickly when the asset base is in the billions. Bank of America’s Specifics BAC stock has been on an absolute tear, ripping more than 60% over the past 12 months. Part of that has been because of higher rates, but largely, it’s on the back of a stronger economy and better earnings. While a strong economy translates to gains for cyclical stocks like Ford Motor Company (NYSE: F ), General Motors Company (NYSE: GM ), Boeing Co (NYSE: BA ) and others, banks are a winner too. Corporate lending, consumer borrowing and more money flow all translate to profits for the banks. Additionally, a stronger economy tends to be accompanied by higher rates, and it’s no surprise to see BAC, JPM, Goldman Sachs Group Inc (NYSE: GS ) and others moving higher as a result. Story continues Despite such a large rally over the past year, one could argue that BAC stock isn’t overvalued. In fact, one could argue that it’s actually cheap! For years, most of the bank stocks traded with a sub-1 price-to-book (P/B) ratio. In theory, a P/B ratio of 0.5 meant that if the company were to liquidate today, its stock price should double (to equal a P/B of 1). Because of the financial fallout and the carnage associated with the Great Recession though, these banks traded with a P/B ratio below 1. BAC stock now trades with a P/B ratio of 1.04. While that may remove the asset-value catalyst, its price-to-earnings (P/E) ratio sure is attractive. Trading with a trailing P/E ratio of just 15.3 and a forward P/E ratio of 12, BAC stock isn’t all that expensive. That’s especially true for a company expected to grow earnings 20% this year and another 19.4% next year. Buy, Sell or Hold BAC Stock? BAC stock chart Click to Enlarge First, investors must determine if they are investing in Bank of America or trading it. As a trader, I would not take a new position ahead of earnings. Even as an investor, one must be aware of these earnings dates. With that said, should BAC earn what analysts expect this year ($1.80 per share) and should it maintain its trailing P/E ratio of 15.3, one could make a case that BAC stock will hit $27.50, up about 8% from current levels. Should that valuation stick through fiscal 2018 and Bank of America earn $2.15 as analysts expect, one could argue shares will be worth almost $33. That’s all assuming BAC stock maintains its current valuation. Admittedly, it could wind up with a lower valuation. But in an era where the economy is improving and sales and earnings are growing, I don’t expect much contraction on the valuation front. If anything, one could argue for a higher valuation, given its near 20% earnings growth. On that note, BAC stock should trade for more than 12 times forward earnings. And don’t forget about its near-2% dividend yield. On the charts, we’re looking at $25 to $25.50 as a big level of support. The only problem? Earnings. If the report is ill-received, using a stop-loss at this level may be all for naught, as BAC stock could gap right below this level. In any regard, see if BAC stock can hold this level on a closing basis post-earnings. Bank of America's (BAC) Buy Rating Affirmed If BAC stock falls, it’s one to buy on the pullback, depending on where it lands. Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell . As of this writing, Bret Kenwell did not hold a position in any of the aforementioned securities. More From InvestorPlace 7 Spinoff Stocks That Could Be Better Than Their Parents Why Bank of America (BAC) Will Continue to Rise: 2 Charts 5 Can't-Miss Dow Jones Stocks to Buy Today The post What You Need to Know About Bank of America Corp (BAC) Stock Ahead of Earnings appeared first on InvestorPlace . || Nvidia Expands Lead In AI-Driven Vehicle Suppliers With New Products, New Partnerships: NVIDIA Corporation (NASDAQ: NVDA ) is taking an assertive lead among self-driving car suppliers with the introduction of Drive PX Pegasus, its first product supporting Level 5 autonomy. Between the new supercomputer and the confidence of DHL Group, a fresh partner on self-driving delivery fleets, Nvidia is justifying AV-driven bulls . Whats To Be Gained The product and partnership should also appeal to Nvidias 225 Drive PX automotive partners, 25 of which are working on robotaxi fleets. Altogether, the AV opportunity presents a total addressable market of $8 billion and 25 million cars by 2025 , according to Bank of America Merrill Lynch. These announcements are important as we believe self-driving cars represent the single largest underpenetrated TAM for NVDA behind AI in the data center, analysts Vivek Arya and Adam Gonzalez wrote in a Thursday note. As yet, the Street has only factored in $1.8 billion in auto sales for 2022, but Merrill Lynch anticipates the AV market driving significant upside to estimates in the coming years. Nvidias To Lose Nvidia is slowly building a lead in vehicular AI, and at this point, little seems to stand in its way. Pegasus introduced new performance standards and, by Merrill Lynch assessments, has no true rival. While the new product offers 320 trillion operations per second (TOPS) and Nvidias last-generation unit 30 TOPS, their closest competitor, Intel Corporation (NASDAQ: INTC ) and Mobileyes EyeQ5, boasts just 12 TOPS. NXP Semiconductors NV (NASDAQ: NXPI ), Xilinx, Inc. (NASDAQ: XLNX ), Advanced Micro Devices, Inc. (NASDAQ: AMD ) and Renesas also lag in performance. However, as automakers only yet produce Level 3 cars, theyve got years to catch up and may eventually compete, according to Merrill Lynch. For now, the analysts maintained a Buy rating on Nvidia with a $210 price target. At time of publication, shares were trading around $191.50. Related Links: The Autonomous Future: Munster's 2020 Vision Of The Road Story continues Has GM Quietly Taken The Lead In Autonomous Vehicles Latest Ratings for NVDA Oct 2017 Barclays Maintains Equal-Weight Sep 2017 Bank of America Maintains Buy Aug 2017 Canaccord Genuity Maintains Buy View More Analyst Ratings for NVDA View the Latest Analyst Ratings See more from Benzinga 4 Semiconductor Stocks Fund Managers Are Buying Most 14% Upside Seen For Nvidia Shares On PC Gaming, Bitcoin Mining Strength © 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. || Nvidia Expands Lead In AI-Driven Vehicle Suppliers With New Products, New Partnerships: NVIDIA Corporation(NASDAQ:NVDA) is taking an assertive lead among self-driving car suppliers with theintroductionof Drive PX Pegasus, its first product supporting Level 5 autonomy.
Between the new supercomputer and the confidence of DHL Group, a fresh partner on self-driving delivery fleets, Nvidia is justifyingAV-driven bulls.
What’s To Be Gained
The product and partnership should also appeal to Nvidia’s 225 Drive PX automotive partners, 25 of which are working on robotaxi fleets.
Altogether, the AV opportunity presents a total addressable market of $8 billion and 25 million carsby 2025, according to Bank of America Merrill Lynch.
“These announcements are important as we believe self-driving cars represent the single largest underpenetrated TAM for NVDA behind AI in the data center,” analysts Vivek Arya and Adam Gonzalez wrote in a Thursday note.
As yet, the Street has only factored in $1.8 billion in auto sales for 2022, but Merrill Lynch anticipates the AV market driving significant upside to estimates in the coming years.
Nvidia’s To Lose
Nvidia is slowly building a lead in vehicular AI, and at this point, little seems to stand in its way.
Pegasus introduced new performance standards and, by Merrill Lynch assessments, has no true rival. While the new product offers 320 trillion operations per second (TOPS) and Nvidia’s last-generation unit 30 TOPS, their closest competitor,Intel Corporation(NASDAQ:INTC) and Mobileye’s EyeQ5, boasts just 12 TOPS.
NXP Semiconductors NV(NASDAQ:NXPI),Xilinx, Inc.(NASDAQ:XLNX),Advanced Micro Devices, Inc.(NASDAQ:AMD) and Renesas also lag in performance.
However, as automakers only yet produce Level 3 cars, they’ve got years to catch up and may eventually compete, according to Merrill Lynch.
For now, the analysts maintained a Buy rating on Nvidia with a $210 price target. At time of publication, shares were trading around $191.50.
Related Links:
The Autonomous Future: Munster's 2020 Vision Of The Road
Has GM Quietly Taken The Lead In Autonomous Vehicles
Latest Ratings for NVDA
[{"Oct 2017": "Sep 2017", "Barclays": "Bank of America", "Maintains": "Maintains", "": "", "Equal-Weight": "Buy"}, {"Oct 2017": "Aug 2017", "Barclays": "Canaccord Genuity", "Maintains": "Maintains", "": "", "Equal-Weight": "Buy"}]
View More Analyst Ratings for NVDAView the Latest Analyst Ratings
See more from Benzinga
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© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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LIVE: Profit = $0.80 (0.21 %). BUY B0.07 @ $5,647.58 (#BitStamp). SELL @ $5,704.00 (#BitKonan) #bitcoin #btc - http://www.projectcoin.org || BTC to USD is 5683.70, 13 October, 2017 10:40:00 (BST) (https://fx-rate.net/BTC/USD/ ) via @fxrate || Current price of Bitcoin is $5502.00 http://ift.tt/1EHAmFQ || $5697.83 at 17:30 UTC [24h Range: $5222.00 - $5846.43 Volume: 27069 BTC] || Yah, just like I'm hopeful that Bitcoin will hit $1,000,000.00... hopeful.. http://www.cbc.ca/news/politics/wilbur-ro...
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5831.79, 5678.19, 5725.59, 5605.51, 5590.69, 5708.52, 6011.45, 6031.60, 6008.42, 5930.32
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Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 901.54, 917.59, 919.75, 921.59, 919.50, 920.38, 970.40, 989.02, 1011.80, 1029.91, 1042.90, 1027.34, 1038.15, 1061.35, 1063.07, 994.38, 988.67, 1004.45, 999.18, 990.64, 1004.55, 1007.48, 1027.44, 1046.21, 1054.42, 1047.87, 1079.98, 1115.30, 1117.44, 1166.72, 1173.68, 1143.84, 1165.20, 1179.97, 1179.97, 1222.50, 1251.01, 1274.99, 1255.15, 1267.12, 1272.83, 1223.54, 1150.00, 1188.49, 1116.72, 1175.83, 1221.38, 1231.92, 1240.00, 1249.61, 1187.81, 1100.23, 973.82, 1036.74, 1054.23, 1120.54, 1049.14, 1038.59, 937.52, 972.78, 966.72, 1045.77, 1047.15, 1039.97, 1026.43, 1071.79, 1080.50, 1102.17, 1143.81, 1133.25, 1124.78, 1182.68, 1176.90, 1175.95, 1187.87, 1187.13, 1205.01, 1200.37, 1169.28, 1167.54, 1172.52, 1182.94, 1193.91, 1211.67, 1210.29, 1229.08, 1222.05, 1231.71, 1207.21, 1250.15.
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[Bitcoin Technical Analysis for 2017-04-24]
Volume: 235806000, RSI (14-day): 64.27, 50-day EMA: 1146.30, 200-day EMA: 960.14
[Wider Market Context]
Gold Price: 1275.80, Gold RSI: 59.20
Oil Price: 49.23, Oil RSI: 38.23
[Recent News (last 7 days)]
Inside the World's Greatest Scavenger Hunt, Part 2: GISHWHES stands for the Greatest International Scavenger Hunt the World Has Ever Seen . Teams of 15 have one week to complete a list of 200 difficult, charitable, or hilarious tasks. They prove they’ve completed each item by submitting a photo or video of it; their $20 entry fees go to a charity, and the winning team gets a trip to an exotic location. This is Part 2 of our five-part series that goes inside the hunt. Part 1 • Part 2 • Part 3 • Part 4 • Part 5 Part 2: The hunt begins At 7:30 am on a bright Saturday morning, five members of Team Raised from Perdition gather near San Francisco. (The team name quotes the first line of dialogue ever spoken by Misha Collins on the cult hit show “Supernatural,” now in its twelfth season. He’s GISHWHES’s creator and organizer.) The other 12 members of the team join by video conference, via Google Hangouts, from their homes in Florida, Connecticut, Illinois, Hawaii, Tennessee, and Brazil. Although this is the team’s third year in the hunt, most have never met in person. They’ve never been all in one place. That’s typical for teams in this hunt, which is very much a creation of the Internet. Jason Sarten, an opera singer, reads off this year’s list, which includes items like: Get dental work done while a string quartet plays live music in the room. Enjoy some green eggs and ham (sunny-side up) on a boat with a goat. Provide evidence of having helped at least 10 eligible United States citizens to register to vote. Paint a portrait of a live model while both you and the model are scuba diving. Get an Amazon senior executive to order a small item from you, in a timestamped email. Using a drone, deliver the item to the executive (who must be waiting outside the office building) in less than one hour. Over 3,000 teams sign up to play GISHWHES each year, and there are nearly as many styles of running the hunt. On some teams, there’s nobody in charge. On others, there’s a captain who organizes but doesn’t actually perform any of the items. Flake-outs—people who say they’ll participate, but are no-shows when the hunt begins—are a common problem. Story continues Team Raised from Perdition is run by a pair of co-captains, Nina Mostepan and Geoff McAnally, who also perform tasks. (In real life, Mostepan teaches at an Early Start program for the deaf and hard of hearing, and McAnally is an American sign language interpreter.) The corn-husk gown One reason Raised From Perdition starts off the week with a group pow-wow: To let the team members claim the items they’re good at. For example, in Vancouver, Rob Fitz-James and Shiane Gailey live together and compete together. (He owns a tree stump-removal company; she’s a children’s entertainer.) They have radically different skills. “We work well as a team because I’m outgoing and I’ll go and do stuff in person; she’s able to manage social media, uploading, and photo and video editing,” Rob says. Shiane, fortunately for the team, is also wildly creative. After the hunt-launch meeting, she jumps on item 23: “Make this year’s must-have fashion statement: the Corn Husk Evening Wear!” Rob persuades a local thrift shop to donate a Justin Bieber bedsheet. (“Thankfully, someone grew out of a horrible phase in their life,” he says.) Shiane duct-tapes corn husks to a hoop skirt—well, the front half, the part that would be visible in the photo. “Then we spray-painted it red and yellow to make flames, and then we went downtown,” she says. “I assembled that thing onto myself in a fancy part of time, and took the picture at the Convention Center. (We got permission, of course.)” There were funny looks, she says, but she checked off item 23 as completed on the team’s master Google Sheets spreadsheet. Corn Husk Evening Wear! The space balloon Meanwhile, in Connecticut, Tia is struggling with item 153: “Secure a legitimate contract with Space X, NASA, etc., to send a message into space, addressed to the universe and written by a child. You must submit evidence that your payload was successfully launched into orbit.” It sounds impossible. Like NASA is going to carry a scavenger-hunt player’s note into space on short notice? No wonder item 153 is worth more points (314) than anything else on the list. Frantic, Tia Googles until she comes across a British company called SentIntoSpace.com . They sell near-space helium balloon kits to schools, hobbyists, marketers, and filmmakers, including everything they need to send small payloads into near space. Incredibly, the company responds to her email and agrees to donate a balloon to the cause. Destination: space! The launch goes well; the landing, not so much. Upon its return from space, the balloon blows off course and becomes ensnared high in the treetops of a dense, mountainous forest. Tia and her team of friends search until nightfall, following the signals of the satellite tracker in the payload box—but can’t find the thing. And without recovering the two GoPro cameras in its payload box, she won’t have the footage of space she needed. And without that—no credit for item 153, and little chance of winning GISHWHES. Deeply discouraged, she returns home. When things go wrong Item 153 isn’t the only GISHWHES item that’s ever gone wrong. Almost every year, an item or two disappears from the list after the hunt is under way. That’s when GISHWHES mastermind Misha Collins realizes too late that he’s created a dangerous or foolhardy challenge. “There have been people who have been arrested and court martialed and injured during the course of various GISHWHES over the years,” he says. “The second year, we had an item on the list that was, ‘Wrap yourself up in Christmas-tree lights. Plug them in and stand on the roof of a house.’ “And the very first day of the hunt, some of the submissions came in. And one of them was a photo of somebody standing on the peak of a three-story house, right at the edge, on the eave, completely entangled and ensnared in Christmas tree lights. And I immediately thought, ‘WHAT HAVE WE DONE?! There is no way that we can run this scavenger hunt and have somebody not perish from this item!’ “So I immediately sent out an e-mail saying, ‘Do not do the Christmas-tree lights on the roof item! Terrible idea.’ “And so that was sort of an ‘Aha!’ moment for me when I realized, ‘Oh, there are a lot of people who are doing whatever I say. I can’t just come up with whatever pops into my head and have them carry it out.” The hunt is on In 100 countries around the world, teams are sacrificing sleep, health, and me time as they scramble to knock off items on the list. More or less simultaneously, they’re all discovering what Team Raised from Perdition has learned: that it’s very hard to get an item into orbit on short notice, that goats don’t much enjoy floating in boats, and that Amazon.com has no intention of permitting its executives to participate in item 161. Join us for Part 3 of this series, which dives into the charitable side of GISHWHES—and documents the biggest water-balloon battle ever staged. Well, in San Francisco. In Dolores Park. That we know of. Part 1 • Part 2 • Part 3 • Part 4 • Part 5 More from David Pogue: The David Pogue Review: Windows 10 Creators Update Now I get it: Bitcoin David Pogue tested 47 pill-reminder apps to find the best one David Pogue’s search for the world’s best air-travel app The little-known iPhone feature that lets blind people see with their fingers David Pogue, tech columnist for Yahoo Finance, welcomes nontoxic comments in the comments section below. On the web, he’s davidpogue.com . On Twitter, he’s @pogue . On email, he’s poguester@yahoo.com. You can read all his articles here , or you can sign up to get his columns by email . || Inside the World's Greatest Scavenger Hunt, Part 2: GISHWHES stands for theGreatest International Scavenger Hunt the World Has Ever Seen. Teams of 15 have one week to complete a list of 200 difficult, charitable, or hilarious tasks. They prove they’ve completed each item by submitting a photo or video of it; their $20 entry fees go to a charity, and the winning team gets a trip to an exotic location.
This is Part 2 of our five-part series that goes inside the hunt.
Part 1• Part 2 •Part 3•Part 4•Part 5
At 7:30 am on a bright Saturday morning, five members of Team Raised from Perdition gather near San Francisco. (The team name quotes the first line of dialogue ever spoken by Misha Collins on the cult hit show “Supernatural,” now in its twelfth season. He’s GISHWHES’s creator and organizer.)
The other 12 members of the team join by video conference, via Google Hangouts, from their homes in Florida, Connecticut, Illinois, Hawaii, Tennessee, and Brazil.
Although this is the team’s third year in the hunt, most have never met in person. They’ve never been all in one place. That’s typical for teams in this hunt, which is very much a creation of the Internet.
Jason Sarten, an opera singer, reads off this year’s list, which includes items like:
• Get dental work done while a string quartet plays live music in the room.
• Enjoy some green eggs and ham (sunny-side up) on a boat with a goat.
• Provide evidence of having helped at least 10 eligible United States citizens to register to vote.
• Paint a portrait of a live model while both you and the model are scuba diving.
• Get an Amazon senior executive to order a small item from you, in a timestamped email. Using a drone, deliver the item to the executive (who must be waiting outside the office building) in less than one hour.
Over 3,000 teams sign up to play GISHWHES each year, and there are nearly as many styles of running the hunt. On some teams, there’s nobody in charge. On others, there’s a captain who organizes but doesn’t actually perform any of the items. Flake-outs—people who say they’ll participate, but are no-shows when the hunt begins—are a common problem.
Team Raised from Perdition is run by a pair of co-captains, Nina Mostepan and Geoff McAnally, who also perform tasks. (In real life, Mostepan teaches at an Early Start program for the deaf and hard of hearing, and McAnally is an American sign language interpreter.)
One reason Raised From Perdition starts off the week with a group pow-wow: To let the team members claim the items they’re good at.
For example, in Vancouver, Rob Fitz-James and Shiane Gailey live together and compete together. (He owns a tree stump-removal company; she’s a children’s entertainer.)
They have radically different skills. “We work well as a team because I’m outgoing and I’ll go and do stuff in person; she’s able to manage social media, uploading, and photo and video editing,” Rob says.
Shiane, fortunately for the team, is also wildly creative. After the hunt-launch meeting, she jumps on item 23: “Make this year’s must-have fashion statement: the Corn Husk Evening Wear!”
Rob persuades a local thrift shop to donate a Justin Bieber bedsheet. (“Thankfully, someone grew out of a horrible phase in their life,” he says.) Shiane duct-tapes corn husks to a hoop skirt—well, the front half, the part that would be visible in the photo. “Then we spray-painted it red and yellow to make flames, and then we went downtown,” she says. “I assembled that thing onto myself in a fancy part of time, and took the picture at the Convention Center. (We got permission, of course.)”
There were funny looks, she says, but she checked off item 23 as completed on the team’s master Google Sheets spreadsheet.
Meanwhile, in Connecticut, Tia is struggling with item 153: “Secure a legitimate contract with Space X, NASA, etc., to send a message into space, addressed to the universe and written by a child. You must submit evidence that your payload was successfully launched into orbit.”
It sounds impossible. Like NASA is going to carry a scavenger-hunt player’s note into space on short notice?
No wonder item 153 is worth more points (314) than anything else on the list.
Frantic, Tia Googles until she comes across a British company calledSentIntoSpace.com. They sell near-space helium balloon kits to schools, hobbyists, marketers, and filmmakers, including everything they need to send small payloads into near space. Incredibly, the company responds to her email and agrees to donate a balloon to the cause.
The launch goes well; the landing, not so much. Upon its return from space, the balloon blows off course and becomes ensnared high in the treetops of a dense, mountainous forest.
Tia and her team of friends search until nightfall, following the signals of the satellite tracker in the payload box—but can’t find the thing. And without recovering the two GoPro cameras in its payload box, she won’t have the footage of space she needed.
And without that—no credit for item 153, and little chance of winning GISHWHES. Deeply discouraged, she returns home.
Item 153 isn’t the only GISHWHES item that’s ever gone wrong. Almost every year, an item or twodisappearsfrom the list after the hunt is under way. That’s when GISHWHES mastermind Misha Collins realizes too late that he’s created a dangerous or foolhardy challenge.
“There have been people who have been arrested and court martialed and injured during the course of various GISHWHES over the years,” he says. “The second year, we had an item on the list that was, ‘Wrap yourself up in Christmas-tree lights. Plug them in and stand on the roof of a house.’
“And the very first day of the hunt, some of the submissions came in. And one of them was a photo of somebody standing on the peak of a three-story house, right at the edge, on the eave, completely entangled and ensnared in Christmas tree lights. And I immediately thought, ‘WHAT HAVE WE DONE?! There is no way that we can run this scavenger hunt and have somebody not perish from this item!’
“So I immediately sent out an e-mail saying, ‘Do not do the Christmas-tree lights on the roof item! Terrible idea.’
“And so that was sort of an ‘Aha!’ moment for me when I realized, ‘Oh, there are a lot of people who are doing whatever I say. I can’t just come up with whatever pops into my head and have them carry it out.”
In 100 countries around the world, teams are sacrificing sleep, health, and me time as they scramble to knock off items on the list.
More or less simultaneously, they’re all discovering what Team Raised from Perdition has learned: that it’s very hard to get an item into orbit on short notice, that goats don’t much enjoy floating in boats, and that Amazon.com has no intention of permitting its executives to participate in item 161.
Join us forPart 3of this series, which dives into the charitable side of GISHWHES—and documents the biggest water-balloon battle ever staged.
Well, in San Francisco.
In Dolores Park.
That we know of.
Part 1• Part 2 •Part 3•Part 4•Part 5
More from David Pogue:
The David Pogue Review: Windows 10 Creators Update
Now I get it: Bitcoin
David Pogue tested 47 pill-reminder apps to find the best one
David Pogue’s search for the world’s best air-travel app
The little-known iPhone feature that lets blind people see with their fingers
David Pogue, tech columnist for Yahoo Finance, welcomes nontoxic comments in the comments section below. On the web, he’sdavidpogue.com. On Twitter, he’s@pogue. On email, he’s poguester@yahoo.com. You canread all his articles here, or you can sign up toget his columns by email. || Sports Fans Score as CONCACAF U-17s Kick Off on Flow Sports and Flow Sports Premier: MIAMI, FL--(Marketwired - Apr 21, 2017) - Flow customers score again as the 2017 Confederation of North, Central America and Caribbean Association Football (CONCACAF) Men's Under-17 World-Cup Qualifiers kick off on Flow Sports and Flow Sports Premier with multiplatform, on-the-go access via the Flow Sports app and website . Earlier this year Flow signed a partnership with CONCACAF to give customers a front row seat at both the Men's U-20 and U-17 championships. The winners of each division will go on to compete in the 2017 FIFA World Cup in India in October. The U-20s wrapped up on March 5 th , while the U-17s are set to take place in Panama from April 21 st to May 7 th . Sports fans can tune into Flow Sports , Flow Sports Premier and Flow 1 (for one game only 1 ) to watch all 25 live matches as twelve (12) teams from the Caribbean, Central America and North America vie to lock down their spot in the U-17 World Cup. Four (4) teams will advance. This year's line-up includes five (5) Caribbean nations -- Haiti, Jamaica, Cuba, Curacao and Suriname. "In keeping with our commitment to deliver high quality, relevant and unmatched Caribbean content, Flow Sports' viewers can look forward to yet another major sporting event to light up their screens," said Garry Sinclair, President of Cable & Wireless Caribbean. "Needless to say, the CONCACAF World Cup qualifier is one of the most important events for emerging Caribbean superstars and, as the Home of Sports in the Caribbean , it's only natural that football fans in the region would look to us to catch the action. We will continue to raise the bar and serve up great content like the CONCACAF championships for football lovers across the Caribbean." Along with the live segments, Flow Sports will also produce a pre-, post- and halftime show for the final on May 7 th . Hosts of the show include former professional footballer and Flow Sports Premier Weekly host Terry Fenwick , along with Trinidad & Tobago's U-17 coach Russell Latapy . Together they'll serve up detailed match discussions and provide fans with an expert perspective on tomorrow's Caribbean football stars. Story continues Commenting on the partnership with Flow, CONCACAF General Secretary Philippe Moggio said, "Ensuring the broadcast reach of our tournaments into the Caribbean has always been a priority for CONCACAF, and this deal with Flow helps us to immediately achieve that." Editor's Note: CONCACAF U-17 BROADCAST SCHEDULE 2017 Match Ups Broadcast Dates Time ECT Station 1 Curacao v Haiti Friday April 21 7:30 PM Flow Sports 2 Panama v Honduras 10:00 PM Flow Sports 3 Cuba v Suriname Saturday April 22 1:30 PM Flow Sports 4 Costa Rica v Canada 4:00 PM Flow Sports 5 Jamaica v USA Sunday April 23 1:30 PM Flow Sports 6 Mexico v El Salvador 4:00 PM Flow Sports 7 Honduras v Curacao Monday April 24 6:00 PM FS Premier 8 Panama v Haiti 8:30 PM Flow Sports 9 Canada v Cuba Tuesday April 25 3:00 PM Flow Sports 10 Costa Rica v Suriname 5:30 PM Flow Sports 11 1 El Salvador v Jamaica Wednesday April 26 4:00 PM Flow 1 12 Mexico v USA 6:30 PM FS Premier 13 Honduras v Haiti Thursday April 27 6:00 PM Flow Sports 14 Panama v Curacao 8:30 PM Flow Sports 15 Canada v Suriname Friday April 28 6:30 PM Flow Sports 16 Costa Rica v Cuba 9:00 PM Flow Sports 17 El Salvador v USA Saturday April 29 11:30 PM FS Premier 18 Mexico v Jamaica 2:00 PM Flow Sports 19 TBD Monday May 1 6:30 PM Flow Sports 20 TBD 9:00 PM Flow Sports 21 TBD Wednesday May 3 4:30 PM Flow Sports 22 TBD 7:00 PM Flow Sports 23 TBD Friday May 5 6:30 PM Flow Sports 24 TBD 9:00 PM Flow Sports 25 TBD Sunday May 7 (FINALS) 4:00 PM Flow Sports About CONCACAF The Confederation of North, Central America and Caribbean Association Football (CONCACAF) is the governing body for soccer in the region, and one of six continental authorities that administer the game along with FIFA. Formed in 1961 from the merger of the Football Confederation of Central America and the Caribbean and the North American Football Confederation, CONCACAF now has 41 member associations, from Canada in the north to Guyana, Suriname and French Guiana on the South American continent. As the administrative body for the region, CONCACAF organizes competitions, offers training courses in technical and administrative aspects of the game, and helps to build football throughout the region. About C&W Communications C&W is a full service communications and entertainment provider and delivers market-leading video, broadband, telephony and mobile services to consumers in 18 countries. Through its business division, C&W provides data center hosting, domestic and international managed network services, and customized IT service solutions, utilizing cloud technology to serve business and government customers. C&W also operates a state-of-the-art submarine fiber network -- the most extensive in the region. Learn more at www.cwc.com , or follow C&W on LinkedIn , Facebook or Twitter . About Liberty Global Liberty Global is the world's largest international TV and broadband company, with operations in more than 30 countries across Europe, Latin America and the Caribbean. We invest in the infrastructure that empowers our customers to make the most of the digital revolution. Our scale and commitment to innovation enable us to develop market-leading products delivered through next generation networks that connect our 25 million customers who subscribe to over 50 million television, broadband internet and telephony services. We also serve over 10 million mobile subscribers and offer WiFi service across 5 million access points. Liberty Global's businesses are comprised of two stocks: the Liberty Global Group ( NASDAQ : LBTYA ) ( LBTYB ) and ( NASDAQ : LBTYK ) for our European operations, and the LiLAC Group ( NASDAQ : LILA ) and ( NASDAQ : LILAK ) ( OTC PINK : LILAB ), which consists of our operations in Latin America and the Caribbean. The Liberty Global Group operates in 11 European countries under the consumer brands Virgin Media, Unitymedia, Telenet and UPC. The Liberty Global Group also owns 50% of VodafoneZiggo, a Dutch joint venture, which has 4 million customers, 10 million fixed-line subscribers and 5 million mobile subscribers. The LiLAC Group operates in over 20 countries in Latin America and the Caribbean under the consumer brands VTR, Flow, Liberty, Más Móvil and BTC. In addition, the LiLAC Group operates a sub-sea fiber network throughout the region in over 30 markets. For more information, please visit www.libertyglobal.com . || Sports Fans Score as CONCACAF U-17s Kick Off on Flow Sports and Flow Sports Premier: MIAMI, FL--(Marketwired - Apr 21, 2017) - Flow customers score again as the 2017 Confederation of North, Central America and Caribbean Association Football (CONCACAF) Men's Under-17 World-Cup Qualifiers kick off on Flow Sports and Flow Sports Premier with multiplatform, on-the-go access via the Flow Sports app and website . Earlier this year Flow signed a partnership with CONCACAF to give customers a front row seat at both the Men's U-20 and U-17 championships. The winners of each division will go on to compete in the 2017 FIFA World Cup in India in October. The U-20s wrapped up on March 5 th , while the U-17s are set to take place in Panama from April 21 st to May 7 th . Sports fans can tune into Flow Sports , Flow Sports Premier and Flow 1 (for one game only 1 ) to watch all 25 live matches as twelve (12) teams from the Caribbean, Central America and North America vie to lock down their spot in the U-17 World Cup. Four (4) teams will advance. This year's line-up includes five (5) Caribbean nations -- Haiti, Jamaica, Cuba, Curacao and Suriname. "In keeping with our commitment to deliver high quality, relevant and unmatched Caribbean content, Flow Sports' viewers can look forward to yet another major sporting event to light up their screens," said Garry Sinclair, President of Cable & Wireless Caribbean. "Needless to say, the CONCACAF World Cup qualifier is one of the most important events for emerging Caribbean superstars and, as the Home of Sports in the Caribbean , it's only natural that football fans in the region would look to us to catch the action. We will continue to raise the bar and serve up great content like the CONCACAF championships for football lovers across the Caribbean." Along with the live segments, Flow Sports will also produce a pre-, post- and halftime show for the final on May 7 th . Hosts of the show include former professional footballer and Flow Sports Premier Weekly host Terry Fenwick , along with Trinidad & Tobago's U-17 coach Russell Latapy . Together they'll serve up detailed match discussions and provide fans with an expert perspective on tomorrow's Caribbean football stars. Story continues Commenting on the partnership with Flow, CONCACAF General Secretary Philippe Moggio said, "Ensuring the broadcast reach of our tournaments into the Caribbean has always been a priority for CONCACAF, and this deal with Flow helps us to immediately achieve that." Editor's Note: CONCACAF U-17 BROADCAST SCHEDULE 2017 Match Ups Broadcast Dates Time ECT Station 1 Curacao v Haiti Friday April 21 7:30 PM Flow Sports 2 Panama v Honduras 10:00 PM Flow Sports 3 Cuba v Suriname Saturday April 22 1:30 PM Flow Sports 4 Costa Rica v Canada 4:00 PM Flow Sports 5 Jamaica v USA Sunday April 23 1:30 PM Flow Sports 6 Mexico v El Salvador 4:00 PM Flow Sports 7 Honduras v Curacao Monday April 24 6:00 PM FS Premier 8 Panama v Haiti 8:30 PM Flow Sports 9 Canada v Cuba Tuesday April 25 3:00 PM Flow Sports 10 Costa Rica v Suriname 5:30 PM Flow Sports 11 1 El Salvador v Jamaica Wednesday April 26 4:00 PM Flow 1 12 Mexico v USA 6:30 PM FS Premier 13 Honduras v Haiti Thursday April 27 6:00 PM Flow Sports 14 Panama v Curacao 8:30 PM Flow Sports 15 Canada v Suriname Friday April 28 6:30 PM Flow Sports 16 Costa Rica v Cuba 9:00 PM Flow Sports 17 El Salvador v USA Saturday April 29 11:30 PM FS Premier 18 Mexico v Jamaica 2:00 PM Flow Sports 19 TBD Monday May 1 6:30 PM Flow Sports 20 TBD 9:00 PM Flow Sports 21 TBD Wednesday May 3 4:30 PM Flow Sports 22 TBD 7:00 PM Flow Sports 23 TBD Friday May 5 6:30 PM Flow Sports 24 TBD 9:00 PM Flow Sports 25 TBD Sunday May 7 (FINALS) 4:00 PM Flow Sports About CONCACAF The Confederation of North, Central America and Caribbean Association Football (CONCACAF) is the governing body for soccer in the region, and one of six continental authorities that administer the game along with FIFA. Formed in 1961 from the merger of the Football Confederation of Central America and the Caribbean and the North American Football Confederation, CONCACAF now has 41 member associations, from Canada in the north to Guyana, Suriname and French Guiana on the South American continent. As the administrative body for the region, CONCACAF organizes competitions, offers training courses in technical and administrative aspects of the game, and helps to build football throughout the region. About C&W Communications C&W is a full service communications and entertainment provider and delivers market-leading video, broadband, telephony and mobile services to consumers in 18 countries. Through its business division, C&W provides data center hosting, domestic and international managed network services, and customized IT service solutions, utilizing cloud technology to serve business and government customers. C&W also operates a state-of-the-art submarine fiber network -- the most extensive in the region. Learn more at www.cwc.com , or follow C&W on LinkedIn , Facebook or Twitter . About Liberty Global Liberty Global is the world's largest international TV and broadband company, with operations in more than 30 countries across Europe, Latin America and the Caribbean. We invest in the infrastructure that empowers our customers to make the most of the digital revolution. Our scale and commitment to innovation enable us to develop market-leading products delivered through next generation networks that connect our 25 million customers who subscribe to over 50 million television, broadband internet and telephony services. We also serve over 10 million mobile subscribers and offer WiFi service across 5 million access points. Liberty Global's businesses are comprised of two stocks: the Liberty Global Group ( NASDAQ : LBTYA ) ( LBTYB ) and ( NASDAQ : LBTYK ) for our European operations, and the LiLAC Group ( NASDAQ : LILA ) and ( NASDAQ : LILAK ) ( OTC PINK : LILAB ), which consists of our operations in Latin America and the Caribbean. The Liberty Global Group operates in 11 European countries under the consumer brands Virgin Media, Unitymedia, Telenet and UPC. The Liberty Global Group also owns 50% of VodafoneZiggo, a Dutch joint venture, which has 4 million customers, 10 million fixed-line subscribers and 5 million mobile subscribers. The LiLAC Group operates in over 20 countries in Latin America and the Caribbean under the consumer brands VTR, Flow, Liberty, Más Móvil and BTC. In addition, the LiLAC Group operates a sub-sea fiber network throughout the region in over 30 markets. For more information, please visit www.libertyglobal.com . || $BITCF's COINQX is the First Cryptocurrency Exchange to Offer Speculation in 6 Possible Outcomes of the Bitcoin Hard Fork: VANCOUVER, BC / ACCESSWIRE / April 21, 2017 /CoinQx Exchange LIMITED, a wholly owned subsidiary of FIRST BITCOIN CAPITAL CORP (OTC PINK: BITCF or "Company") and the world's dominate issuer of cryptographic, indicative tokens is pleased to announce the launching of 5 additional altcoins that allow speculation on the potential outcomes of the moves to hard fork from the Bitcoin Core.
Other exchanges are now preparing for the highly anticipated hard fork of Bitcoin into two coins, with the original to remain named as Bitcoin (symbol BTC) and the forked coin as an altcoin to be named Bitcoin Unlimited, symbol BTU based on utilizing "Segregated Witness" (SegWit). Unlike those competing exchanges, COINQX is anticipating 6 possible outcomes, e.g. Bitcoin Unlimited, BCOIN, Bitcoin Plasma, Bitcoin Purse, Bitcoin Classic and Bitcoin XT.
Many Bitcoin traders are anxious to begin trading in the outcome of the hard fork. As a means to capitalize on pent up anticipation, and allow a mechanism to predict the future values of these potentialities, CONQX freshly minted on the Bitcoin Blockchain not only 9,000,000 tokens known as "Bitcoin Unlimited Futures" symbols XBU and XB, but also 5 newer issues. When/if any of these 6 potential outcomes convert into actualities, they will not be convertible or equal to BTC or the hard forked altcoin(s), however, once any of these outcomes and the "futures" coins created by COINQX are trading on COINQX they will be exchangeable by willing participants based on customers' matching bids and asks.
The five additional "futures" have been launched on the Bitcoin Blockchain using the same Omni Layer Protocol as XBU and have been named:
BCOIN FUTURES (BCN)
BITCOIN PLASMA FUTURES (BPL)
BITCOIN PURSE FUTURES (BPU)
BITCOIN CLASSIC FUTURES (XBC)
and BITCOIN XT FUTURES (BXT).
None of these "futures" tokens are backed by BTC nor are they securities, derivatives or futures contracts, yet, they are rather mere fiat cryptocurrencies designed to predict the future from their present popularity (and/or lack thereof).
In order to predict the outcome of the recent American elections, COINQX gave speculators several options including President Clinton (HILL) and President Trump (PRES). The markets in these coins accurately predicted that Clinton would lose the election as that altcoin descended towards one Satoshi while PRES held stronger as the November 8, 2016 electoral voting approached. The day the election was decided, HILL lost the most support and hit 1 Satoshi while PRES rose in BTC value. In addition to serving speculators and observers as indicators of future events, these altcoins also were designed to become the crypto equivalent of memorabilia with the intention that they would achieve a long lasting secondary life in the cryptocurrency markets. They continue to trade to this day with $PRES trading on 4 exchanges.
After the hard fork is complete, XBU and these new additional 5 futures-indicator-altcoin-competitors should also continue to trade -with the intention for those to survive as additional options to Bitcoin and the hard fork outcome as well as serving as independent altcoins and crypto collectors' memorabilia.
While these newly issued altcoins are not directly related to the original Bitcoin or its potential hard fork(s), it is indirectly related by the fact that they were all issued on the Bitcoin Blockchain similar to the top 10 cryptocurrency, MaidSafeCoin. As a consequence, these 5 "futures" are already exchangeable on the OMNIDEX against other similarly generated tokens and currencies such as$OMNI, $USDT, $PRES, $TESLA, $GARY, $BURN, $HILL,$MAID, $ALT, $XBU, $BOND viahttp://omnichest.info/mdexmarket.aspx?market=1and will soon be tradable against additional currencies atwww.coinqx.com
First Bitcoin Capital also plans to allow its clients to offer actual Bitcoin Unlimited (Futures) under symbol BTU and Bitcoin Core (Futures) under symbol BCC in competition with the Bitfinex and HitBTC exchanges through a process that will freeze in cold storage our participating clients' BTC against future delivery of BTU. Once actual BTU is delivered to BTC owners, the BTC will be unfrozen in order to make actual delivery to the futures buyers. Another way to unfreeze and have their BTC returned before the hard fork would be to buy back the same amount of BTU and BCC sold and then take their BTU and BCC derivatives off the market. Further details of the procedure will soon be announced viacoinqx.com
The Company continues to actively offer AltCoin (ALT), its first ICO via http://www.altcoinmarketcap.com and is in the process of becoming the world's first ICO (Initial Coin Offering) underwriter for a third party cryptocurrency issuers.
Some of the background that led to COINQX releasing these indicative altcoins is quoted below from the article published recently by @AlyssaHertig
http://www.coindesk.com/big-block-bitcoin-movement-embracing-bcoin/
Over the course of bitcoin's two-year scaling debate, a few major alternatives have grown to challenge the network's most popular and longest-running software, Bitcoin Core.
Among the more notable efforts have beenBitcoin XTandBitcoin Classic, which prioritized support larger block sizes as a method to support more transactions. However, a side effect of their ambitious aims was that network users would need switch implementations to enact the changes, and not everyone has wanted to do so.
The development exposes one of the more curious aspects of the scaling debate, as alternative solutions have needed to propose both a technical change - and build their own developer team - as part of their bids to put forth differing ideas.
One of the main criticisms ofBitcoin Unlimited, one recently popular alternative that allows miners and users to flag support for the block size they want, is that the code is buggy - or, at least, not yet mature. For example, in March, attackers were able toexploit two such bugs, causing most of the network nodes running the software to temporarily shut down each time.
In this light, the emergence of an implementation called 'Bcoin' (built by bitcoin startup Purse) to the debate could be a notable development in the scaling saga.
The software project got a recent boost this week when it introduced its own take on an old scaling idea, 'extension blocks' (or 'e-blocks'), which the company painted as a way for getting around today's block-size standstill.
The idea is controversial, as evidenced by complextechnical discussionfollowing the announcement, with some developers arguing that e-blocks would be an insecure addition.
Still, e-blocks have still seen a strong showing of support, in large part due to the perceived proficiency of its team. And, notably, Bitcoin Unlimited supporters have so far had favorable things to say about the project.
Haipo Yang, Chief Executive of mining firm ViaBTC, for instance, told CoinDesk that he supports Purse's concept and the Bcoin team.
Yang said:
"I think that extension blocks will be the solution that moves forward."
'Promising' option
Overall, the argument is developing that Bcoin, an alternative Node.js implementation that launchedin September, boasts a stronger technical team than that of Bitcoin Unlimited and other so-called 'big block' teams.
Purse CTO and Bcoin developer Christopher Jeffrey, for example, has been praised for architecting the software, as well as an in-progress Lightning implementation calledPlasmathat could be layered on top.
Meanwhile, Joseph Poon, Lightning Network co-creator, helped author the specification for the Bcoin implementation'srecently introducedflagship tech.
One example of trust in the competence of the team, supporters argue, is that mining pool BTC.com has already mined one block while running the software in March - allegedly a first for a client not based on bitcoin's original code implementation.
Purse has released aspecification draftandreference implementation codethat implements extension blocks on top of Bcoin.
That's not to say that Bcoin wants to offer a replacement for Bitcoin Core, as has been suggested for other implementations. When first introduced, it was described by the company as a bitcoin alternative with cleaner code that could co-exist alongside other software versions.
Divisions remain
Despite Yang's confidence, however, not all Bitcoin Unlimited supporters are going all in on extension blocks.
Former Bitcoin Foundation board member Olivier Janssens, for example, criticized the solution for its complexities, telling CoinDesk Bcoin's idea was 'way too complicated'.
"People need to get over their fear of hard forks," he said.
Still, many are saying positive things about the solution, even if they're possibly more focused on other scaling options.
"I like extension blocks, but I think there is almost no risk from making the actual blocks bigger, too," bitcoin investor and Bitcoin.com operator Roger Ver, one of the most vocal advocates for Bitcoin Core alternatives, told CoinDesk.
Bitcoin Unlimited developer David Jerry Chan went so far as to compare the tech favourably to other available solutions.
"I see the proposal as a reasonable and better alternative than SegWit," he said.
Chan went on to say that Bitcoin Unlimited developers are still discussing the proposal, and there's no 'official opinion' from the team as yet.
As far as potential setbacks go, however, one of the criticisms of Bcoin is that it needs time to review, no matter the merits of its team. (SegWit, for example, was reviewed and tested for roughly a year before release.)
On the other hand, Purse CEO Andrew Lee has argued that the Bcoin code is already live, so it could take less time to review.
Indeed, according to the technology announcement, the next steps are to deploy it on the bitcoin test network, get further review, and wrap up the specification.
Yang agreed, concluding:
"We have already waited more than one year. We can wait three months."
About the company:
First Bitcoin Capital is engaged in developing digital currencies, proprietary Blockchain technologies, and the digital currency exchange-www.CoinQX.com. We see this step as a tremendous opportunity to create further shareholder value by leveraging management's experience in developing and managing complex Blockchain technologies, developing new types of digital assets. Being the first publicly-traded cryptocurrency and blockchain-centered company (with shares both traded in the US OTC Markets as [BITCF] and as [BIT] in crypto exchanges) we want to provide our shareholders with diversified exposure to digital cryptocurrencies and blockchain technologies. At this time the Company owns and operates more than the following digital assets.
www.CoinQX.comcryptocurrency exchange, registered with FINCEN.
www.iCoiNEWS.comreal time cryptocurrency and bitcoin news site.
www.BITminer.ccproviding mining pool management services.
www.2016coin.orgonline daily election coverage and home page for $PRES, $HILL, $GARY& $BURN -commemorative presidential election coins.
www.bitcannpay.comOpen Loop merchant services for dispensaries.
www.strain.IDcannabis strains genetic information depository on decentralized Blockchain.
List of Omni protocol coins issued on the Bitcoin Blockchain owned by the Company:http://omnichest.info/lookupadd.aspx?address=1FwADyEvdvaLNxjN1v3q6tNJCgHEBuABrS
Forward-Looking Statements
Certain statements contained in this press release may constitute "forward-looking statements." Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors as may be disclosed in company's filings. In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic conditions, and governmental and public policy changes. The forward-looking statements included in this press release represent the Company's views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of the press release. Such forward-looking statements are risks that are detailed in the Company's filings, which are on file atwww.OTCMarkets.com.
Contact us via:info@bitcoincapitalcorp.comor visithttp://www.bitcoincapitalcorp.com
SOURCE:First Bitcoin Capital Corp. || $BITCF's COINQX is the First Cryptocurrency Exchange to Offer Speculation in 6 Possible Outcomes of the Bitcoin Hard Fork: VANCOUVER, BC / ACCESSWIRE / April 21, 2017 / CoinQx Exchange LIMITED, a wholly owned subsidiary of FIRST BITCOIN CAPITAL CORP (OTC PINK: BITCF or "Company") and the world's dominate issuer of cryptographic, indicative tokens is pleased to announce the launching of 5 additional altcoins that allow speculation on the potential outcomes of the moves to hard fork from the Bitcoin Core. Other exchanges are now preparing for the highly anticipated hard fork of Bitcoin into two coins, with the original to remain named as Bitcoin (symbol BTC) and the forked coin as an altcoin to be named Bitcoin Unlimited, symbol BTU based on utilizing "Segregated Witness" (SegWit). Unlike those competing exchanges, COINQX is anticipating 6 possible outcomes, e.g. Bitcoin Unlimited, BCOIN, Bitcoin Plasma, Bitcoin Purse, Bitcoin Classic and Bitcoin XT. Many Bitcoin traders are anxious to begin trading in the outcome of the hard fork. As a means to capitalize on pent up anticipation, and allow a mechanism to predict the future values of these potentialities, CONQX freshly minted on the Bitcoin Blockchain not only 9,000,000 tokens known as "Bitcoin Unlimited Futures" symbols XBU and XB, but also 5 newer issues. When/if any of these 6 potential outcomes convert into actualities, they will not be convertible or equal to BTC or the hard forked altcoin(s), however, once any of these outcomes and the "futures" coins created by COINQX are trading on COINQX they will be exchangeable by willing participants based on customers' matching bids and asks. The five additional "futures" have been launched on the Bitcoin Blockchain using the same Omni Layer Protocol as XBU and have been named: BCOIN FUTURES (BCN) BITCOIN PLASMA FUTURES (BPL) BITCOIN PURSE FUTURES (BPU) BITCOIN CLASSIC FUTURES (XBC) and BITCOIN XT FUTURES (BXT) . None of these "futures" tokens are backed by BTC nor are they securities, derivatives or futures contracts, yet, they are rather mere fiat cryptocurrencies designed to predict the future from their present popularity (and/or lack thereof). Story continues In order to predict the outcome of the recent American elections, COINQX gave speculators several options including President Clinton (HILL) and President Trump (PRES). The markets in these coins accurately predicted that Clinton would lose the election as that altcoin descended towards one Satoshi while PRES held stronger as the November 8, 2016 electoral voting approached. The day the election was decided, HILL lost the most support and hit 1 Satoshi while PRES rose in BTC value. In addition to serving speculators and observers as indicators of future events, these altcoins also were designed to become the crypto equivalent of memorabilia with the intention that they would achieve a long lasting secondary life in the cryptocurrency markets. They continue to trade to this day with $PRES trading on 4 exchanges. After the hard fork is complete, XBU and these new additional 5 futures-indicator-altcoin-competitors should also continue to trade -with the intention for those to survive as additional options to Bitcoin and the hard fork outcome as well as serving as independent altcoins and crypto collectors' memorabilia. While these newly issued altcoins are not directly related to the original Bitcoin or its potential hard fork(s), it is indirectly related by the fact that they were all issued on the Bitcoin Blockchain similar to the top 10 cryptocurrency, MaidSafeCoin. As a consequence, these 5 "futures" are already exchangeable on the OMNIDEX against other similarly generated tokens and currencies such as $OMNI, $USDT, $PRES, $TESLA, $GARY, $BURN, $HILL , $MAID, $ALT, $XBU, $BOND via http://omnichest.info/mdexmarket.aspx?market=1 and will soon be tradable against additional currencies at www.coinqx.com First Bitcoin Capital also plans to allow its clients to offer actual Bitcoin Unlimited (Futures) under symbol BTU and Bitcoin Core (Futures) under symbol BCC in competition with the Bitfinex and HitBTC exchanges through a process that will freeze in cold storage our participating clients' BTC against future delivery of BTU. Once actual BTU is delivered to BTC owners, the BTC will be unfrozen in order to make actual delivery to the futures buyers. Another way to unfreeze and have their BTC returned before the hard fork would be to buy back the same amount of BTU and BCC sold and then take their BTU and BCC derivatives off the market. Further details of the procedure will soon be announced via coinqx.com The Company continues to actively offer AltCoin (ALT), its first ICO via http://www.altcoinmarketcap.com and is in the process of becoming the world's first ICO (Initial Coin Offering) underwriter for a third party cryptocurrency issuers. Some of the background that led to COINQX releasing these indicative altcoins is quoted below from the article published recently by @AlyssaHertig http://www.coindesk.com/big-block-bitcoin-movement-embracing-bcoin/ Over the course of bitcoin's two-year scaling debate, a few major alternatives have grown to challenge the network's most popular and longest-running software, Bitcoin Core. Among the more notable efforts have been Bitcoin XT and Bitcoin Classic , which prioritized support larger block sizes as a method to support more transactions. However, a side effect of their ambitious aims was that network users would need switch implementations to enact the changes, and not everyone has wanted to do so. The development exposes one of the more curious aspects of the scaling debate, as alternative solutions have needed to propose both a technical change - and build their own developer team - as part of their bids to put forth differing ideas. One of the main criticisms of Bitcoin Unlimited , one recently popular alternative that allows miners and users to flag support for the block size they want, is that the code is buggy - or, at least, not yet mature. For example, in March, attackers were able to exploit two such bugs , causing most of the network nodes running the software to temporarily shut down each time. In this light, the emergence of an implementation called 'Bcoin' (built by bitcoin startup Purse) to the debate could be a notable development in the scaling saga. The software project got a recent boost this week when it introduced its own take on an old scaling idea, ' extension blocks ' (or 'e-blocks'), which the company painted as a way for getting around today's block-size standstill. The idea is controversial, as evidenced by complex technical discussion following the announcement, with some developers arguing that e-blocks would be an insecure addition. Still, e-blocks have still seen a strong showing of support, in large part due to the perceived proficiency of its team. And, notably, Bitcoin Unlimited supporters have so far had favorable things to say about the project. Haipo Yang, Chief Executive of mining firm ViaBTC, for instance, told CoinDesk that he supports Purse's concept and the Bcoin team. Yang said: "I think that extension blocks will be the solution that moves forward." 'Promising' option Overall, the argument is developing that Bcoin, an alternative Node.js implementation that launched in September , boasts a stronger technical team than that of Bitcoin Unlimited and other so-called 'big block' teams. Purse CTO and Bcoin developer Christopher Jeffrey, for example, has been praised for architecting the software, as well as an in-progress Lightning implementation called Plasma that could be layered on top. Meanwhile, Joseph Poon, Lightning Network co-creator, helped author the specification for the Bcoin implementation's recently introduced flagship tech. One example of trust in the competence of the team, supporters argue, is that mining pool BTC.com has already mined one block while running the software in March - allegedly a first for a client not based on bitcoin's original code implementation. Purse has released a specification draft and reference implementation code that implements extension blocks on top of Bcoin. That's not to say that Bcoin wants to offer a replacement for Bitcoin Core, as has been suggested for other implementations. When first introduced, it was described by the company as a bitcoin alternative with cleaner code that could co-exist alongside other software versions. Divisions remain Despite Yang's confidence, however, not all Bitcoin Unlimited supporters are going all in on extension blocks. Former Bitcoin Foundation board member Olivier Janssens, for example, criticized the solution for its complexities, telling CoinDesk Bcoin's idea was 'way too complicated'. "People need to get over their fear of hard forks," he said. Still, many are saying positive things about the solution, even if they're possibly more focused on other scaling options. "I like extension blocks, but I think there is almost no risk from making the actual blocks bigger, too," bitcoin investor and Bitcoin.com operator Roger Ver, one of the most vocal advocates for Bitcoin Core alternatives, told CoinDesk. Bitcoin Unlimited developer David Jerry Chan went so far as to compare the tech favourably to other available solutions. "I see the proposal as a reasonable and better alternative than SegWit," he said. Chan went on to say that Bitcoin Unlimited developers are still discussing the proposal, and there's no 'official opinion' from the team as yet. As far as potential setbacks go, however, one of the criticisms of Bcoin is that it needs time to review, no matter the merits of its team. (SegWit, for example, was reviewed and tested for roughly a year before release.) On the other hand, Purse CEO Andrew Lee has argued that the Bcoin code is already live, so it could take less time to review. Indeed, according to the technology announcement, the next steps are to deploy it on the bitcoin test network, get further review, and wrap up the specification. Yang agreed, concluding: "We have already waited more than one year. We can wait three months." About the company: First Bitcoin Capital is engaged in developing digital currencies, proprietary Blockchain technologies, and the digital currency exchange- www.CoinQX.com . We see this step as a tremendous opportunity to create further shareholder value by leveraging management's experience in developing and managing complex Blockchain technologies, developing new types of digital assets. Being the first publicly-traded cryptocurrency and blockchain-centered company (with shares both traded in the US OTC Markets as [BITCF] and as [BIT] in crypto exchanges) we want to provide our shareholders with diversified exposure to digital cryptocurrencies and blockchain technologies. At this time the Company owns and operates more than the following digital assets. www.CoinQX.com cryptocurrency exchange, registered with FINCEN. www.iCoiNEWS.com real time cryptocurrency and bitcoin news site. www.BITminer.cc providing mining pool management services. www.2016coin.org online daily election coverage and home page for $PRES, $HILL, $GARY& $BURN -commemorative presidential election coins. www.bitcannpay.com Open Loop merchant services for dispensaries. www.strain.ID cannabis strains genetic information depository on decentralized Blockchain. List of Omni protocol coins issued on the Bitcoin Blockchain owned by the Company: http://omnichest.info/lookupadd.aspx?address=1FwADyEvdvaLNxjN1v3q6tNJCgHEBuABrS Forward-Looking Statements Certain statements contained in this press release may constitute "forward-looking statements." Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors as may be disclosed in company's filings. In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic conditions, and governmental and public policy changes. The forward-looking statements included in this press release represent the Company's views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of the press release. Such forward-looking statements are risks that are detailed in the Company's filings, which are on file at www.OTCMarkets.com . Contact us via: info@bitcoincapitalcorp.com or visit http://www.bitcoincapitalcorp.com SOURCE: First Bitcoin Capital Corp. || $BITCF's COINQX is the First Cryptocurrency Exchange to Offer Speculation in 6 Possible Outcomes of the Bitcoin Hard Fork: VANCOUVER, BC / ACCESSWIRE / April 21, 2017 /CoinQx Exchange LIMITED, a wholly owned subsidiary of FIRST BITCOIN CAPITAL CORP (OTC PINK: BITCF or "Company") and the world's dominate issuer of cryptographic, indicative tokens is pleased to announce the launching of 5 additional altcoins that allow speculation on the potential outcomes of the moves to hard fork from the Bitcoin Core.
Other exchanges are now preparing for the highly anticipated hard fork of Bitcoin into two coins, with the original to remain named as Bitcoin (symbol BTC) and the forked coin as an altcoin to be named Bitcoin Unlimited, symbol BTU based on utilizing "Segregated Witness" (SegWit). Unlike those competing exchanges, COINQX is anticipating 6 possible outcomes, e.g. Bitcoin Unlimited, BCOIN, Bitcoin Plasma, Bitcoin Purse, Bitcoin Classic and Bitcoin XT.
Many Bitcoin traders are anxious to begin trading in the outcome of the hard fork. As a means to capitalize on pent up anticipation, and allow a mechanism to predict the future values of these potentialities, CONQX freshly minted on the Bitcoin Blockchain not only 9,000,000 tokens known as "Bitcoin Unlimited Futures" symbols XBU and XB, but also 5 newer issues. When/if any of these 6 potential outcomes convert into actualities, they will not be convertible or equal to BTC or the hard forked altcoin(s), however, once any of these outcomes and the "futures" coins created by COINQX are trading on COINQX they will be exchangeable by willing participants based on customers' matching bids and asks.
The five additional "futures" have been launched on the Bitcoin Blockchain using the same Omni Layer Protocol as XBU and have been named:
BCOIN FUTURES (BCN)
BITCOIN PLASMA FUTURES (BPL)
BITCOIN PURSE FUTURES (BPU)
BITCOIN CLASSIC FUTURES (XBC)
and BITCOIN XT FUTURES (BXT).
None of these "futures" tokens are backed by BTC nor are they securities, derivatives or futures contracts, yet, they are rather mere fiat cryptocurrencies designed to predict the future from their present popularity (and/or lack thereof).
In order to predict the outcome of the recent American elections, COINQX gave speculators several options including President Clinton (HILL) and President Trump (PRES). The markets in these coins accurately predicted that Clinton would lose the election as that altcoin descended towards one Satoshi while PRES held stronger as the November 8, 2016 electoral voting approached. The day the election was decided, HILL lost the most support and hit 1 Satoshi while PRES rose in BTC value. In addition to serving speculators and observers as indicators of future events, these altcoins also were designed to become the crypto equivalent of memorabilia with the intention that they would achieve a long lasting secondary life in the cryptocurrency markets. They continue to trade to this day with $PRES trading on 4 exchanges.
After the hard fork is complete, XBU and these new additional 5 futures-indicator-altcoin-competitors should also continue to trade -with the intention for those to survive as additional options to Bitcoin and the hard fork outcome as well as serving as independent altcoins and crypto collectors' memorabilia.
While these newly issued altcoins are not directly related to the original Bitcoin or its potential hard fork(s), it is indirectly related by the fact that they were all issued on the Bitcoin Blockchain similar to the top 10 cryptocurrency, MaidSafeCoin. As a consequence, these 5 "futures" are already exchangeable on the OMNIDEX against other similarly generated tokens and currencies such as$OMNI, $USDT, $PRES, $TESLA, $GARY, $BURN, $HILL,$MAID, $ALT, $XBU, $BOND viahttp://omnichest.info/mdexmarket.aspx?market=1and will soon be tradable against additional currencies atwww.coinqx.com
First Bitcoin Capital also plans to allow its clients to offer actual Bitcoin Unlimited (Futures) under symbol BTU and Bitcoin Core (Futures) under symbol BCC in competition with the Bitfinex and HitBTC exchanges through a process that will freeze in cold storage our participating clients' BTC against future delivery of BTU. Once actual BTU is delivered to BTC owners, the BTC will be unfrozen in order to make actual delivery to the futures buyers. Another way to unfreeze and have their BTC returned before the hard fork would be to buy back the same amount of BTU and BCC sold and then take their BTU and BCC derivatives off the market. Further details of the procedure will soon be announced viacoinqx.com
The Company continues to actively offer AltCoin (ALT), its first ICO via http://www.altcoinmarketcap.com and is in the process of becoming the world's first ICO (Initial Coin Offering) underwriter for a third party cryptocurrency issuers.
Some of the background that led to COINQX releasing these indicative altcoins is quoted below from the article published recently by @AlyssaHertig
http://www.coindesk.com/big-block-bitcoin-movement-embracing-bcoin/
Over the course of bitcoin's two-year scaling debate, a few major alternatives have grown to challenge the network's most popular and longest-running software, Bitcoin Core.
Among the more notable efforts have beenBitcoin XTandBitcoin Classic, which prioritized support larger block sizes as a method to support more transactions. However, a side effect of their ambitious aims was that network users would need switch implementations to enact the changes, and not everyone has wanted to do so.
The development exposes one of the more curious aspects of the scaling debate, as alternative solutions have needed to propose both a technical change - and build their own developer team - as part of their bids to put forth differing ideas.
One of the main criticisms ofBitcoin Unlimited, one recently popular alternative that allows miners and users to flag support for the block size they want, is that the code is buggy - or, at least, not yet mature. For example, in March, attackers were able toexploit two such bugs, causing most of the network nodes running the software to temporarily shut down each time.
In this light, the emergence of an implementation called 'Bcoin' (built by bitcoin startup Purse) to the debate could be a notable development in the scaling saga.
The software project got a recent boost this week when it introduced its own take on an old scaling idea, 'extension blocks' (or 'e-blocks'), which the company painted as a way for getting around today's block-size standstill.
The idea is controversial, as evidenced by complextechnical discussionfollowing the announcement, with some developers arguing that e-blocks would be an insecure addition.
Still, e-blocks have still seen a strong showing of support, in large part due to the perceived proficiency of its team. And, notably, Bitcoin Unlimited supporters have so far had favorable things to say about the project.
Haipo Yang, Chief Executive of mining firm ViaBTC, for instance, told CoinDesk that he supports Purse's concept and the Bcoin team.
Yang said:
"I think that extension blocks will be the solution that moves forward."
'Promising' option
Overall, the argument is developing that Bcoin, an alternative Node.js implementation that launchedin September, boasts a stronger technical team than that of Bitcoin Unlimited and other so-called 'big block' teams.
Purse CTO and Bcoin developer Christopher Jeffrey, for example, has been praised for architecting the software, as well as an in-progress Lightning implementation calledPlasmathat could be layered on top.
Meanwhile, Joseph Poon, Lightning Network co-creator, helped author the specification for the Bcoin implementation'srecently introducedflagship tech.
One example of trust in the competence of the team, supporters argue, is that mining pool BTC.com has already mined one block while running the software in March - allegedly a first for a client not based on bitcoin's original code implementation.
Purse has released aspecification draftandreference implementation codethat implements extension blocks on top of Bcoin.
That's not to say that Bcoin wants to offer a replacement for Bitcoin Core, as has been suggested for other implementations. When first introduced, it was described by the company as a bitcoin alternative with cleaner code that could co-exist alongside other software versions.
Divisions remain
Despite Yang's confidence, however, not all Bitcoin Unlimited supporters are going all in on extension blocks.
Former Bitcoin Foundation board member Olivier Janssens, for example, criticized the solution for its complexities, telling CoinDesk Bcoin's idea was 'way too complicated'.
"People need to get over their fear of hard forks," he said.
Still, many are saying positive things about the solution, even if they're possibly more focused on other scaling options.
"I like extension blocks, but I think there is almost no risk from making the actual blocks bigger, too," bitcoin investor and Bitcoin.com operator Roger Ver, one of the most vocal advocates for Bitcoin Core alternatives, told CoinDesk.
Bitcoin Unlimited developer David Jerry Chan went so far as to compare the tech favourably to other available solutions.
"I see the proposal as a reasonable and better alternative than SegWit," he said.
Chan went on to say that Bitcoin Unlimited developers are still discussing the proposal, and there's no 'official opinion' from the team as yet.
As far as potential setbacks go, however, one of the criticisms of Bcoin is that it needs time to review, no matter the merits of its team. (SegWit, for example, was reviewed and tested for roughly a year before release.)
On the other hand, Purse CEO Andrew Lee has argued that the Bcoin code is already live, so it could take less time to review.
Indeed, according to the technology announcement, the next steps are to deploy it on the bitcoin test network, get further review, and wrap up the specification.
Yang agreed, concluding:
"We have already waited more than one year. We can wait three months."
About the company:
First Bitcoin Capital is engaged in developing digital currencies, proprietary Blockchain technologies, and the digital currency exchange-www.CoinQX.com. We see this step as a tremendous opportunity to create further shareholder value by leveraging management's experience in developing and managing complex Blockchain technologies, developing new types of digital assets. Being the first publicly-traded cryptocurrency and blockchain-centered company (with shares both traded in the US OTC Markets as [BITCF] and as [BIT] in crypto exchanges) we want to provide our shareholders with diversified exposure to digital cryptocurrencies and blockchain technologies. At this time the Company owns and operates more than the following digital assets.
www.CoinQX.comcryptocurrency exchange, registered with FINCEN.
www.iCoiNEWS.comreal time cryptocurrency and bitcoin news site.
www.BITminer.ccproviding mining pool management services.
www.2016coin.orgonline daily election coverage and home page for $PRES, $HILL, $GARY& $BURN -commemorative presidential election coins.
www.bitcannpay.comOpen Loop merchant services for dispensaries.
www.strain.IDcannabis strains genetic information depository on decentralized Blockchain.
List of Omni protocol coins issued on the Bitcoin Blockchain owned by the Company:http://omnichest.info/lookupadd.aspx?address=1FwADyEvdvaLNxjN1v3q6tNJCgHEBuABrS
Forward-Looking Statements
Certain statements contained in this press release may constitute "forward-looking statements." Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors as may be disclosed in company's filings. In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic conditions, and governmental and public policy changes. The forward-looking statements included in this press release represent the Company's views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of the press release. Such forward-looking statements are risks that are detailed in the Company's filings, which are on file atwww.OTCMarkets.com.
Contact us via:info@bitcoincapitalcorp.comor visithttp://www.bitcoincapitalcorp.com
SOURCE:First Bitcoin Capital Corp. || Bitcoin is closing in on its all-time high: Bitcoin is trading at its best level in a month. The cryptocurrency is up 2.8% at $1241.35 a coin and is within striking distance of its all-time closing high of $1277.65, which was set on March 6. Four days later, bitcoin put in a record high of $1327.19 before crashing more than 25% after the US Securities and Exchange Commission rejected the Winklevoss twins' plans for a bitcoin ETF. The SEC rejected the plans for another bitcoin ETF just a few weeks after that. However, bitcoin has rallied off its March 24 low of $959.45 as it has gained acceptance elsewhere. First, Japan announced it was accepting the crypticurrency as a legal payment method , then, Russia said it would consider recognizing bitcoin and other cryptocurrencies in 2018. Bitcoin has been the top-performing currency every year since 2010, aside from 2014. It's up 30% so far in 2017. Bitcoin (Markets Insider) NOW WATCH: Here's footage of the US military's new helicopter that'll cost as much as an F-35 More From Business Insider There's $29.4 billion in cryptocurrencies here's which ones people are using the most An under-the-radar startup is behind what might be the best watch you can buy for under $250 Iran's 'stealth' fighter is a total joke || Bitcoin is closing in on its all-time high: Bitcoinis trading at its best level in a month. The cryptocurrency is up 2.8% at $1241.35 a coin and is within striking distance of its all-time closing high of $1277.65, which was set on March 6.
Four days later, bitcoin put in a record high of $1327.19 before crashing more than 25% after the US Securities and Exchange Commission rejected the Winklevoss twins' plans for a bitcoin ETF. The SECrejected the plans for another bitcoin ETFjust a few weeks after that.
However, bitcoin has rallied off its March 24 low of $959.45 as it has gained acceptance elsewhere. First, Japan announced it was accepting the crypticurrency as alegal payment method, then, Russia said it wouldconsider recognizing bitcoin and other cryptocurrenciesin 2018.
Bitcoin has been the top-performing currency every year since 2010, aside from 2014. It's up 30% so far in 2017.
(Markets Insider)
NOW WATCH:Here's footage of the US military's new helicopter that'll cost as much as an F-35
More From Business Insider
• There's $29.4 billion in cryptocurrencies — here's which ones people are using the most
• An under-the-radar startup is behind what might be the best watch you can buy for under $250
• Iran's 'stealth' fighter is a total joke || Bitcoin is closing in on its all-time high: Bitcoinis trading at its best level in a month. The cryptocurrency is up 2.8% at $1241.35 a coin and is within striking distance of its all-time closing high of $1277.65, which was set on March 6.
Four days later, bitcoin put in a record high of $1327.19 before crashing more than 25% after the US Securities and Exchange Commission rejected the Winklevoss twins' plans for a bitcoin ETF. The SECrejected the plans for another bitcoin ETFjust a few weeks after that.
However, bitcoin has rallied off its March 24 low of $959.45 as it has gained acceptance elsewhere. First, Japan announced it was accepting the crypticurrency as alegal payment method, then, Russia said it wouldconsider recognizing bitcoin and other cryptocurrenciesin 2018.
Bitcoin has been the top-performing currency every year since 2010, aside from 2014. It's up 30% so far in 2017.
(Markets Insider)
NOW WATCH:Here's footage of the US military's new helicopter that'll cost as much as an F-35
More From Business Insider
• There's $29.4 billion in cryptocurrencies — here's which ones people are using the most
• An under-the-radar startup is behind what might be the best watch you can buy for under $250
• Iran's 'stealth' fighter is a total joke || There's $29.4 billion in cryptocurrencies here's which ones people are using the most: Bitcoin became the first decentralized cryptocurrency back in 2009, and ever since interest in digital currencies has exploded. According to CoinMarketCap.com, there are 796 cryptocurrencies currently trading around the world , with a combined market cap of $29,374,919,176. Of those, only 10 have a market cap of $100 million or more. Check them out: Cryptocurrency market cap chart (Business Insider/Mike Nudelman, data from CoinMarketCap.com) NOW WATCH: People are outraged by this shocking video showing a passenger forcibly dragged off a United Airlines plane More From Business Insider An under-the-radar startup is behind what might be the best watch you can buy for under $250 We just got a huge sign that the US intelligence community believes the Trump dossier is legitimate Report says North Korea stole bitcoin from South Korea for years || There's $29.4 billion in cryptocurrencies — here's which ones people are using the most: Bitcoin became the firstdecentralized cryptocurrency back in 2009, and ever since interest in digital currencies has exploded. According to CoinMarketCap.com, there are796 cryptocurrencies currently trading around the world, with a combined market cap of $29,374,919,176. Of those, only 10 have a market cap of $100 million or more. Check them out:
(Business Insider/Mike Nudelman, data from CoinMarketCap.com)
NOW WATCH:People are outraged by this shocking video showing a passenger forcibly dragged off a United Airlines plane
More From Business Insider
• An under-the-radar startup is behind what might be the best watch you can buy for under $250
• We just got a huge sign that the US intelligence community believes the Trump dossier is legitimate
• Report says North Korea stole bitcoin from South Korea for years || The hotel industry's secret plan to bring down AirBnB: Its always been pretty obvious why the hotel industry might not be big fans of AirBnB. After all, AirBnB lets us find lodging thats homier, less cookie-cutter, and far less expensive than renting hotel rooms. But this week, The New York Times reported on just how much AirBnB bothers the hotel industry: Its trade group, the American Hotel and Lodging Association (AHLA), which has a multimillion-dollar budget, has actually developed a secret program to cause trouble for AirBnB. So far, the plan has succeeded in virtually shutting down AirBnB apartment rentals in New York City. (The AHLA helped persuade New York lawmakers to impose a law that issues fines as high as $7,500 for people who repeatedly advertise their apartments on AirBnB for less than 30 days if theyre not also staying there.) Los Angeles, San Francisco, Boston, Miami, and Washington, D.C. are the trade groups next targets. Brian Chesky, CEO and Co-founder of Airbnb, speaks to the Economic Club of New York at a luncheon at the New York Stock Exchange (NYSE) in New York, U.S. March 13, 2017. REUTERS/Mike Segar Clearly, the hotel lobbyists are concerned about losing business to AirBnB and similar services. But theyre also unhappy with the uneven playing field. Airbnb hosts often do not comply with rules imposed on hotels, like anti-discrimination legislation, local tax collection laws, and safety and fire inspection standards, the Times reports. The hotel industrys other complaints: Lots of people are abusing the AirBnB model by buying many apartments and then renting them, essentially operating as a big hotel business. City governments are also concerned that these AirBnB businesspeople are, in the process, snapping up the supply of housing that city residents desperately need. Needless to say, AirBnB suspects that the hotel industry has other motivations. The hotel cartel is intent on short-sheeting the middle class so they can keep price-gouging consumers, AirBnB spokesman Nick Papas told the Times. Only one thing about AirBnBs road ahead is sure: the hotel industry intends to make it as rough a ride as possible. More from David Pogue: Inside the Worlds Greatest Scavenger Hunt, Part 1 Story continues The David Pogue Review: Windows 10 Creators Update Now I get it: Bitcoin David Pogue tested 47 pill-reminder apps to find the best one David Pogues search for the worlds best air-travel app The little-known iPhone feature that lets blind people see with their fingers David Pogue, tech columnist for Yahoo Finance, welcomes non-toxic comments in the Comments below. On the web, hes davidpogue.com . On Twitter, hes @pogue . On email, hes poguester@yahoo.com. You can read all his articles here , or you can sign up to get his columns by email . || The hotel industry's secret plan to bring down AirBnB: It’s always been pretty obvious why the hotel industry might not be big fans of AirBnB. After all, AirBnB lets us find lodging that’s homier, less cookie-cutter, and far less expensive than renting hotel rooms.
But this week,The New York Times reported onjust how much AirBnB bothers the hotel industry: Its trade group, the American Hotel and Lodging Association (AHLA), which has a multimillion-dollar budget, has actually developed a secret program to cause trouble for AirBnB.
So far, the plan has succeeded in virtually shutting down AirBnB apartment rentals in New York City. (The AHLA helped persuade New York lawmakers to impose a law that issuesfines as high as $7,500for people who repeatedly advertise their apartments on AirBnB for less than 30 days if they’re not also staying there.) Los Angeles, San Francisco, Boston, Miami, and Washington, D.C. are the trade group’s next targets.
Clearly, the hotel lobbyists are concerned about losing business to AirBnB and similar services. But they’re also unhappy with the uneven playing field. “Airbnb hosts often do not comply with rules imposed on hotels, like anti-discrimination legislation, local tax collection laws, and safety and fire inspection standards,” the Times reports.
The hotel industry’s other complaints: Lots of people are abusing the AirBnB model by buying many apartments and then renting them, essentially operating as a big hotel business. City governments are also concerned that these AirBnB businesspeople are, in the process, snapping up the supply of housing that city residents desperately need.
Needless to say, AirBnB suspects that the hotel industry has other motivations. “The hotel cartel is intent on short-sheeting the middle class so they can keep price-gouging consumers,” AirBnB spokesman Nick Papas told the Times.
Only one thing about AirBnB’s road ahead is sure: the hotel industry intends to make it as rough a ride as possible.
More from David Pogue:
Inside the World’s Greatest Scavenger Hunt, Part 1
The David Pogue Review: Windows 10 Creators Update
Now I get it: Bitcoin
David Pogue tested 47 pill-reminder apps to find the best one
David Pogue’s search for the world’s best air-travel app
The little-known iPhone feature that lets blind people see with their fingers
David Pogue, tech columnist for Yahoo Finance, welcomes non-toxic comments in the Comments below. On the web, he’sdavidpogue.com. On Twitter, he’s@pogue. On email, he’s poguester@yahoo.com. You canread all his articles here, or you can sign up toget his columns by email. || Over 200 Fintech Startup Finalists to Celebrate Worldwide Fintech Innovation at the Benzinga Global Fintech Awards in New York City May 11: Benzinga Announces Finalists for 2017 Benzinga Global Fintech Awards; Over 200 Companies Will Compete at Fintech's Premier Event in New York City May 11 DETROIT, MI / ACCESSWIRE / April 17, 2017 / Benzinga , a leading online financial media publication and data provider, announced today the finalists for the 2017 Benzinga Global Fintech Awards . The Benzinga Global Fintech Awards is the largest fintech event focusing on the capital markets. In its third year, Benzinga has expanded the event's purview to the global stage, bringing over 200 companies to New York City from countries including India, Israel, Poland, and Singapore. The Benzinga Global Fintech Awards finalists were chosen by their peers in a social voting competition. In all, 372 companies applied to the competition, and 225 finalists received over 100,000 votes to advance to the judging round. Finalists will soon enter the judging stage of the Benzinga Global Fintech Awards competition. A judging board of more than 30 leaders in every fintech vertical will rank the finalists in terms of how innovative their products are and their potential to reshape the finance industry. The judging panel includes an " unprecedented " level of fintech talent, such as current and former C-suite executives of financial institutions like Morningstar and Thomson Reuters, as well as many leading investors, VCs, television personalities and financial innovators of all stripes. Firms from DE Shaw and J.P. Morgan to TD Ameritrade and Fidelity are all contributing insight and mentorship to the 225 Benzinga Global Fintech Awards finalists. The Benzinga Global Fintech Awards finalists, by category: Best Use of Alternative Investments Platform, Tool, or App BankerBay CFX Markets ClearVest Advisers, LLC CoolMellon Entrex Equitise Frictionless Healthcare Finance Income& Kettera Strategies Mercury Capital Advisors SAF Platform Seedrs Swaper YieldStreet Best Analysis Platform, Tool, or App Alpha Hat Artivest BondCliQ ChartYourTrade F.A.S.T. Graphs NewsHedge Novus Orchard Platform Polly Portfolio TradingView Web Financial Group Ycharts Story continues Best Digital Mortgage or Real Estate Platform, Tool, or App Brickvest BRICKX BuildFax Cadre Morty Neat Capital Neighborhood Pay Services PeerStreet Quicken Loans / Rocket Mortgage RealtyMogul RealtyShares Unison Home Ownership Investors Best Education & Personal Finance Platform, Tool, or App BillGO Clarity Money Copper Street Dream Forward 401(k) FinTech Business School MoneyLion Shift SmartAsset TradeBench Best Financial Advisor or Wealth Management Platform, Tool, or App Advisor Engine ALBRIDGE Backstop Solutions Group BaseVenture CBOE Vest FUNDBASE LendingCalc Mil Advisor MyVest ORION RobustWealth STRATIFI Truelytics Best Forex Platform, Tool, or App Fortex FXPRIMUS FXStreet Markets.com MarketsFactory.com MobyTrader Remitly TF Global Markets uChange Best InsurTech Platform, Tool, or App Aclaimant Bought By Many Coverfy CoverWallet Embroker FitSense Insureon League Life.io Neuroprofiler Senteri UnBrokerage WeSavvy Best Lending Platform, Tool, or App Bizfi Datanomers Global Debt Registry IdFinance InterNex Capital MYJAR P2Binvestor PayMe Rubique Stilt Suretly Think Money TWINO Best Proprietary Technology or APIs Alpha Exchange Connamara Systems Dataminr Finicity Nomad COnnection OpenFin OptionsCity Overbond Push Payments Quovo Redtail Technology Tradier Xignite Best RegTech Platform, Tool, or App AQMetrics AU10TIX ComplyAdvantage ComplySci Neurensic Qumram Rippleshot ThetaRay Trulioo Trunomi Uniken Best Research Platform, Tool, or App AlphaSense FinanceBoards MackeyRMS OptionMetrics PitchBook Slingshot Insights Sqoop Street Diligence Virtual Cove Best Robo Advisor Betterment Clinc Exeria Gravity Investments Polaris Portfolios Scalable Capital Unicorn Bay Vestwell Ways2Wealth Wealthfront Wealthsimple WiseBanyan Best Trading Execution or Brokerage Platform DriveWealth Fidelity FINVASIA Lime Brokerage (Wedbush) m1 Finance OptionsHouse SelfWealth Sterling Trading Tech StocksToTrade T3 Live TD Ameritrade (AMTD) Best Trading Idea Platform, Tool, or App ADVFN Alpaca BullBoard Chaikin Analytics Equities.com iStockPicker SharingAlpha Stocks For The Week TalkMarkets Ticker.tv TickerTags Trade Ideas Tradespoon Trumid Financial Vest Cycle Vetr Best Under-banked or Emerging Market Solution Amplify Billmo, LLC Eastpesa Limited Elevate FarmDrive Ovamba PayActiv Ping Express WorldRemit Best Use of Blockchain or Bitcoins AlphaPoint Blockchain Brave New Coin I/O Digital Melonport Netcoins Paxos Purse Remitt SecureKey Technologies Finding Alpha AlphaStreet Cindicator Croudify DarcMatter ExtractAlpha Kavout PortfolioEffect Prattle PureFunds RelateTheNews SavaNet Tradagon Visible Alpha Institutional Innovators Bond Price Validation Bridge Financial Technology ChartIQ Cloud9 Technologies Intro-act Marstone, Inc. Opportunity Network Veriday Investing In Millennials Aspiration EZMCOM Inc GRAIN Lean Financial MATADOR Payscape SprinkleBit STASH Leveling the Playing Field CALL LEVELS Capitali.se Click IPO Securities DIY.Fund EnergyFunders finbox.io IEX OptaCredit Fintech Private Limited trigger Solving Problems Through Payments Alipay CHeckbook.io disburze PayKey Payment Rails RenovITe Technologies Inc Sharepay Soundpays Spendesk SWITCH Inc Zebit ZOOZ The Benzinga Global Fintech Awards judges include: Pete Casella, Point72 Ventures Adam Boyden, RPM Ventures Amir Goldman, Susquehanna Growth Equity Partners Yin Luo, Wolfe Research Nathan Richardson, TradeIt David Teten, ff Venture Capital James Altucher Tim Seymour, CNBC Vicki Walia, Alliance-Bernstein Bill Libby, Goldman Sachs (GS) Kim Trautmann, DRW VC Seth Merrin, LiquidNet Steve Lau, WorldQuant Ventures Matt Harris, Bain Capital Ventures Tricia Rothschild, Morningstar Charlie Hartel, Yahoo! Finance (YHOO) Ed Skolarus, Investor's Business Daily Gene Munster, Loup Ventures Ken Scichiano, TA Associates Nicholas Britz, Google Finance Bill Nosal, NASDAQ John Hart, TD Ameritrade (AMTD) Alex Wong, DE Shaw Ventures Kelli Keough, J.P. Morgan Chase Matt Hatch, E&Y Jennifer Samalis, Fidelity David Jegen, F Prime Capital Man Mahjouri, Tradeworx Philip Brittan, Fmr. Thomson Reuters Sue Britton, Fintech Growth Syndicate Jeff Chiapetta, Charles Schwab Sonny Singh, BitPay Media Information: Spencer White events@benzinga.com (for media email inquiries please put "MEDIA" at the beginning of the subject line) 313-723-2000 About Benzinga Global Fintech Awards Designed to uncover the most innovative companies within the financial technology capital markets sector, the Benzinga Fintech Awards provide winning finalists with new opportunities for growth and exposure. For last year's winners, please visit www.benzingafintechawards.com or use the hashtag #BZAwards. About Benzinga Benzinga is a leading originator of actionable financial insights for traders and investors. Benzinga's news desk is constantly breaking stories and moving billions of dollars of market capitalization through its real-time terminal, Benzinga Pro. Benzinga's original content is syndicated to 70 partner websites, such as Yahoo! Inc.'s Yahoo! Finance, Microsoft Corporation's MSN, CNNMoney, Fox Business, Marketwatch, and more. Benzinga is the leading provider of news to the North American brokerage community, with a client list including TD Ameritrade, LightSpeed, TradeKing, and many more. The company is headquartered in downtown Detroit and dedicated to driving Detroit's renaissance. For more information, check out Benzinga.com , Cloud.Benzinga.com , and Pro.Benzinga.com . SOURCE: Benzinga || Over 200 Fintech Startup Finalists to Celebrate Worldwide Fintech Innovation at the Benzinga Global Fintech Awards in New York City May 11: Benzinga Announces Finalists for 2017 Benzinga Global Fintech Awards;Over 200 Companies Will Compete at Fintech's Premier Event in New York City May 11
DETROIT, MI / ACCESSWIRE / April 17, 2017 /Benzinga, a leading online financial media publication and data provider, announced today the finalists for the 2017Benzinga Global Fintech Awards.
TheBenzinga Global Fintech Awardsis the largest fintech event focusing on the capital markets. In its third year, Benzinga has expanded the event's purview to the global stage, bringing over 200 companies to New York City from countries including India, Israel, Poland, and Singapore.
TheBenzinga Global Fintech Awardsfinalists were chosen by their peers in a social voting competition. In all, 372 companies applied to the competition, and 225 finalists received over 100,000 votes to advance to the judging round.
Finalists will soon enter the judging stage of theBenzinga Global Fintech Awardscompetition. A judging board of more than 30 leaders in every fintech vertical will rank the finalists in terms of how innovative their products are and their potential to reshape the finance industry.
The judging panel includes an "unprecedented" level of fintech talent, such as current and former C-suite executives of financial institutions like Morningstar and Thomson Reuters, as well as many leading investors, VCs, television personalities and financial innovators of all stripes. Firms from DE Shaw and J.P. Morgan to TD Ameritrade and Fidelity are all contributing insight and mentorship to the 225Benzinga Global Fintech Awardsfinalists.
TheBenzinga Global Fintech Awardsfinalists, by category:
Best Use of Alternative Investments Platform, Tool, or App
• BankerBay
• CFX Markets
• ClearVest Advisers, LLC
• CoolMellon
• Entrex
• Equitise
• Frictionless Healthcare Finance
• Income&
• Kettera Strategies
• Mercury Capital Advisors
• SAF Platform
• Seedrs
• Swaper
• YieldStreet
Best Analysis Platform, Tool, or App
• Alpha Hat
• Artivest
• BondCliQ
• ChartYourTrade
• F.A.S.T. Graphs
• NewsHedge
• Novus
• Orchard Platform
• Polly Portfolio
• TradingView
• Web Financial Group
• Ycharts
Best Digital Mortgage or Real Estate Platform, Tool, or App
• Brickvest
• BRICKX
• BuildFax
• Cadre
• Morty
• Neat Capital
• Neighborhood Pay Services
• PeerStreet
• Quicken Loans / Rocket Mortgage
• RealtyMogul
• RealtyShares
• Unison Home Ownership Investors
Best Education & Personal Finance Platform, Tool, or App
• BillGO
• Clarity Money
• Copper Street
• Dream Forward 401(k)
• FinTech Business School
• MoneyLion
• Shift
• SmartAsset
• TradeBench
Best Financial Advisor or Wealth Management Platform, Tool, or App
• Advisor Engine
• ALBRIDGE
• Backstop Solutions Group
• BaseVenture
• CBOE Vest
• FUNDBASE
• LendingCalc
• Mil Advisor
• MyVest
• ORION
• RobustWealth
• STRATIFI
• Truelytics
Best Forex Platform, Tool, or App
• Fortex
• FXPRIMUS
• FXStreet
• Markets.com
• MarketsFactory.com
• MobyTrader
• Remitly
• TF Global Markets
• uChange
Best InsurTech Platform, Tool, or App
• Aclaimant
• Bought By Many
• Coverfy
• CoverWallet
• Embroker
• FitSense
• Insureon
• League
• Life.io
• Neuroprofiler
• Senteri
• UnBrokerage
• WeSavvy
Best Lending Platform, Tool, or App
• Bizfi
• Datanomers
• Global Debt Registry
• IdFinance
• InterNex Capital
• MYJAR
• P2Binvestor
• PayMe
• Rubique
• Stilt
• Suretly
• Think Money
• TWINO
Best Proprietary Technology or APIs
• Alpha Exchange
• Connamara Systems
• Dataminr
• Finicity
• Nomad COnnection
• OpenFin
• OptionsCity
• Overbond
• Push Payments
• Quovo
• Redtail Technology
• Tradier
• Xignite
Best RegTech Platform, Tool, or App
• AQMetrics
• AU10TIX
• ComplyAdvantage
• ComplySci
• Neurensic
• Qumram
• Rippleshot
• ThetaRay
• Trulioo
• Trunomi
• Uniken
Best Research Platform, Tool, or App
• AlphaSense
• FinanceBoards
• MackeyRMS
• OptionMetrics
• PitchBook
• Slingshot Insights
• Sqoop
• Street Diligence
• Virtual Cove
Best Robo Advisor
• Betterment
• Clinc
• Exeria
• Gravity Investments
• Polaris Portfolios
• Scalable Capital
• Unicorn Bay
• Vestwell
• Ways2Wealth
• Wealthfront
• Wealthsimple
• WiseBanyan
Best Trading Execution or Brokerage Platform
• DriveWealth
• Fidelity
• FINVASIA
• Lime Brokerage (Wedbush)
• m1 Finance
• OptionsHouse
• SelfWealth
• Sterling Trading Tech
• StocksToTrade
• T3 Live
• TD Ameritrade (AMTD)
Best Trading Idea Platform, Tool, or App
• ADVFN
• Alpaca
• BullBoard
• Chaikin Analytics
• Equities.com
• iStockPicker
• SharingAlpha
• Stocks For The Week
• TalkMarkets
• Ticker.tv
• TickerTags
• Trade Ideas
• Tradespoon
• Trumid Financial
• Vest Cycle
• Vetr
Best Under-banked or Emerging Market Solution
• Amplify
• Billmo, LLC
• Eastpesa Limited
• Elevate
• FarmDrive
• Ovamba
• PayActiv
• Ping Express
• WorldRemit
Best Use of Blockchain or Bitcoins
• AlphaPoint
• Blockchain
• Brave New Coin
• I/O Digital
• Melonport
• Netcoins
• Paxos
• Purse
• Remitt
• SecureKey Technologies
Finding Alpha
• AlphaStreet
• Cindicator
• Croudify
• DarcMatter
• ExtractAlpha
• Kavout
• PortfolioEffect
• Prattle
• PureFunds
• RelateTheNews
• SavaNet
• Tradagon
• Visible Alpha
Institutional Innovators
• Bond Price Validation
• Bridge Financial Technology
• ChartIQ
• Cloud9 Technologies
• Intro-act
• Marstone, Inc.
• Opportunity Network
• Veriday
Investing In Millennials
• Aspiration
• EZMCOM Inc
• GRAIN
• Lean Financial
• MATADOR
• Payscape
• SprinkleBit
• STASH
Leveling the Playing Field
• CALL LEVELS
• Capitali.se
• Click IPO Securities
• DIY.Fund
• EnergyFunders
• finbox.io
• IEX
• OptaCredit Fintech Private Limited
• trigger
Solving Problems Through Payments
• Alipay
• CHeckbook.io
• disburze
• PayKey
• Payment Rails
• RenovITe Technologies Inc
• Sharepay
• Soundpays
• Spendesk
• SWITCH Inc
• Zebit
• ZOOZ
TheBenzinga Global Fintech Awardsjudges include:
• Pete Casella, Point72 Ventures
• Adam Boyden, RPM Ventures
• Amir Goldman, Susquehanna Growth Equity Partners
• Yin Luo, Wolfe Research
• Nathan Richardson, TradeIt
• David Teten, ff Venture Capital
• James Altucher
• Tim Seymour, CNBC
• Vicki Walia, Alliance-Bernstein
• Bill Libby, Goldman Sachs (GS)
• Kim Trautmann, DRW VC
• Seth Merrin, LiquidNet
• Steve Lau, WorldQuant Ventures
• Matt Harris, Bain Capital Ventures
• Tricia Rothschild, Morningstar
• Charlie Hartel, Yahoo! Finance (YHOO)
• Ed Skolarus, Investor's Business Daily
• Gene Munster, Loup Ventures
• Ken Scichiano, TA Associates
• Nicholas Britz, Google Finance
• Bill Nosal, NASDAQ
• John Hart, TD Ameritrade (AMTD)
• Alex Wong, DE Shaw Ventures
• Kelli Keough, J.P. Morgan Chase
• Matt Hatch, E&Y
• Jennifer Samalis, Fidelity
• David Jegen, F Prime Capital
• Man Mahjouri, Tradeworx
• Philip Brittan, Fmr. Thomson Reuters
• Sue Britton, Fintech Growth Syndicate
• Jeff Chiapetta, Charles Schwab
• Sonny Singh, BitPay
Media Information:
Spencer Whiteevents@benzinga.com(for media email inquiries please put "MEDIA" at the beginning of the subject line)313-723-2000
About Benzinga Global Fintech Awards
Designed to uncover the most innovative companies within the financial technology capital markets sector, the Benzinga Fintech Awards provide winning finalists with new opportunities for growth and exposure. For last year's winners, please visitwww.benzingafintechawards.comor use the hashtag #BZAwards.
About Benzinga
Benzinga is a leading originator of actionable financial insights for traders and investors. Benzinga's news desk is constantly breaking stories and moving billions of dollars of market capitalization through its real-time terminal, Benzinga Pro. Benzinga's original content is syndicated to 70 partner websites, such as Yahoo! Inc.'s Yahoo! Finance, Microsoft Corporation's MSN, CNNMoney, Fox Business, Marketwatch, and more. Benzinga is the leading provider of news to the North American brokerage community, with a client list including TD Ameritrade, LightSpeed, TradeKing, and many more. The company is headquartered in downtown Detroit and dedicated to driving Detroit's renaissance. For more information, check outBenzinga.com,Cloud.Benzinga.com, andPro.Benzinga.com.
SOURCE:Benzinga || Tax Day 2017: Poem for When Taxes Are Due and It's the Last Day to File: It’s the day before Tax Day: Have you filed your taxes yet? If not, you’re not alone. The Internal Revenue Service says there were as many as 40 million people who had yet to file their tax returns late last week, just before April 15 (which fell on a Saturday this year). Waiting until the last minute, of course, is practically an American pastime: as many as 25% of taxpayers file in the last two weeks before the deadline, according to the IRS. But U.S. filers are especially late this year , which means that procrastinators will have their work cut out for them this week: The tax deadline for 2017 is tomorrow, April 18, at midnight (Eastern time). With those of you in mind, we thought we’d ease your pain by creating a lighthearted diversion: A true story about Tax Day 2017-set to rhyme. From the problems plaguing the people who collect your taxes, to the hopes of at least some in Donald Trump’s administration-namely, Treasury Secretary Steven Mnuchin-to make Tax Day better (not only with tax cuts but with other reforms), this poem has everything you need to know, whether you’re settling your tab with the government or expecting an ample refund. Please enjoy, even if you don’t enjoy paying Uncle Sam. Make Tax Day Great Again Twas right before Tax Day When the word got around Changes were coming A new boss was in town . Secretary of the Treasury, Mnuchin was his name ; He would oversee the IRS, From Goldman Sachs he came. But on Wall Street they knew little Of the troubles the taxmen had For all its fearsome power Could the IRS really be this bad ? Its problems were increasing ; They were under attack; Not just from politicians, But also from hack after hack . “I was surprised,” Mnuchin cried, “30 percent staff cuts in such a short time! Why can’t doing our taxes be Just as easy as going shopping online ?” To make matters worse People were late to pay Hoping that Trump Would make their taxes go away. Ignorant as he was Of why it’s still so hard to file, Mnuchin hoped that Congress Would help on both sides of the aisle. Story continues Politicians laughed at the banker; And as the taxmen processed the news, “We thought you wanted to abolish us!” They said, “Haven’t you heard of Ted Cruz ?” But the Secretary had a vision As he surveyed his new domain And he pledged to pursue a new mission: To make the IRS Great Again! But as Tax Day got closer Some hurdles came to arise When Trump unfurled his budget There was another surprise. Mnuchin did not get his wish For enough money to hire, The proposal was just more cuts ; The funding was even more dire. “No matter,” said Mnuchin As the IRS begged for deliverance, As cheap e-filing increases, “It’ll surely make up for the difference!” By then the Secretary was on board With the President’s ambitious plan None of it would even matter Til tax reform was law of the land. For filers, there was one small reprieve: Amid the tax prep rush, a holiday fell between Meaning this year’s taxes are not due On their usual deadline of April the 15. “Take the weekend,” IRS said: “Tax Day’s the 18th; that’s a Tuesday. If you needed an extension, Forget about it, you’re excused, k?” But a different deadline was looming In the mind of Steven Mnuchin; His boss wanted tax cuts by August; So far there was only confusion . “ I’m going to cut taxes big league ,” Was the promise Donald Trump made: “Those companies who moved to Europe? How they will all wish they had stayed!” “We’ll slash rates for corporations, For individuals, we’ll whack it, Americans’ tax’ll be so low, You won’t even have the same bracket .” The price of making it happen, though? It may be the Border Adjustment Tax . Meanwhile, Americans dreamed of refunds, The size of bonuses at Goldman Sachs. That could take a while , Mnuchin knew, And Trump, after all, kept changing the deal; One minute he wanted tax reform, Now he wants Obamacare repeal? Plus, it had also become harder To convince some people it was fair That they had to file their tax returns When the President’s were God know’s where . Many people hadn’t paid what they owed; It became clear there were far too few: Bitcoin investors who disclosed profits Numbered a mere eight-hundred-and-two . Mnuchin had to find the answer The U.S. can’t afford to lose this bet; To pay for Trump’s infrastructure plan The country needs every cent it can get. Maybe we would collect more money, The Treasury Secretary mused, If filing were a bit easier, The tax laws wouldn’t be so abused! Finally, the key to fixing the state; Mnuchin may have discovered the clue: If you want to make America great, We’ll also need a better Tax Day too. For more Fortune poetry, see the week’s news review in haiku . This article was originally published on FORTUNE.com || Tax Day 2017: Poem for When Taxes Are Due and It's the Last Day to File: It’s the day before Tax Day: Have you filed your taxes yet? If not, you’re not alone. The Internal Revenue Service says there were as many as40 million people who had yet to filetheir tax returns late last week, just before April 15 (which fell on a Saturday this year). Waiting until the last minute, of course, is practically an American pastime: as many as 25% of taxpayers file in the last two weeks before the deadline, according to the IRS.
But U.S. filers areespecially late this year, which means that procrastinators will have their work cut out for them this week: The tax deadline for 2017 is tomorrow, April 18, at midnight (Eastern time). With those of you in mind, we thought we’d ease your pain by creating a lighthearted diversion: A true story about Tax Day 2017-set to rhyme.
From the problems plaguing the people who collect your taxes, to the hopes of at least some in Donald Trump’s administration-namely, Treasury Secretary Steven Mnuchin-to make Tax Day better (not only with tax cuts but with other reforms), this poem has everything you need to know, whether you’re settling your tab with the government or expecting an ample refund. Please enjoy, even if you don’t enjoy paying Uncle Sam.
Twas right before Tax DayWhen the word got aroundChanges were comingAnew boss was in town.
Secretary of the Treasury,Mnuchin was his name;He would oversee the IRS,FromGoldman Sachshe came.
But on Wall Street they knew littleOf the troubles the taxmen hadFor all its fearsome powerCould theIRS really be this bad?
Itsproblems were increasing;They were under attack;Not just from politicians,But also fromhack after hack.
“I was surprised,”Mnuchin cried,“30 percent staff cuts in such a short time!Why can’t doing our taxes beJustas easy as going shopping online?”
To make matters worsePeople were late to payHoping that TrumpWould make their taxes go away.
Ignorant as he wasOf why it’s still so hard to file,Mnuchin hoped that CongressWould help on both sides of the aisle.
Politicians laughed at the banker;And as the taxmen processed the news,“We thought you wanted to abolish us!”They said, “Haven’tyou heard of Ted Cruz?”
But the Secretary had a visionAs he surveyed his new domainAnd he pledged to pursue a new mission:To make the IRS Great Again!
But as Tax Day got closerSome hurdles came to ariseWhen Trump unfurled his budgetThere was another surprise.
Mnuchin did not get his wishFor enough money to hire,Theproposal was just more cuts;The funding was even more dire.
“No matter,” said MnuchinAs the IRS begged for deliverance,As cheap e-filing increases,“It’ll surely make up for the difference!”
By then the Secretary was on boardWith the President’s ambitious planNone of it would even matterTil tax reform was law of the land.
For filers, there was one small reprieve:Amid the tax prep rush, aholidayfell betweenMeaning this year’s taxes are not dueOn their usual deadline of April the 15.
“Take the weekend,” IRS said:“Tax Day’s the 18th; that’s a Tuesday.If you needed an extension,Forget about it, you’re excused, k?”
But a different deadline was loomingIn the mind of Steven Mnuchin;His boss wanted tax cuts by August;So far there wasonly confusion.
“I’m going to cut taxes big league,”Was the promise Donald Trump made:“Those companies who moved to Europe?How they will all wish they had stayed!”
“We’ll slash rates for corporations,For individuals, we’ll whack it,Americans’ tax’ll be so low,Youwon’t even have the same bracket.”
The price of making it happen, though?It may be theBorder Adjustment Tax.Meanwhile, Americans dreamed of refunds,The size of bonuses at Goldman Sachs.
Thatcould take a while, Mnuchin knew,And Trump, after all, kept changing the deal;One minute he wanted tax reform,Now he wants Obamacare repeal?
Plus, it had also become harderTo convince some people it was fairThat they had to file their tax returnsWhen the President’s wereGod know’s where.
Many people hadn’t paid what they owed;It became clear there were far too few:Bitcoin investors who disclosed profitsNumbereda mere eight-hundred-and-two.
Mnuchin had to find the answerThe U.S. can’t afford to lose this bet;To pay for Trump’s infrastructure planThe country needs every cent it can get.
Maybe we would collect more money,The Treasury Secretary mused,If filing were a bit easier,The tax laws wouldn’t be so abused!
Finally, the key to fixing the state;Mnuchin may have discovered the clue:If you want to make America great,We’ll also need a better Tax Day too.
For moreFortunepoetry, seethe week’s news review in haiku.
This article was originally published on FORTUNE.com || Bitcoin Wallets Under Siege From 'Large Collider' Attack: A group called the “Large Bitcoin Collider” claims it can smash open bitcoin wallets by using a so-called brute force attack, which directs mass amounts of computer power at individual wallets in order to guess their private keys.
The project, which has been underway for months, relies on a distributed network of computers (similar to bitcoin itself), and invites anyone to participate-those who do could potentially share in the proceeds of the wallets cracked open.
A “trophy list” on the home page of Collider (an apparent reference to theHadron Collider) suggests the group has successfully opened over a dozen wallets, though only three had any bitcoin in them. It’s unclear if the group is motivated by financial gain or the cryptographic challenge of smashing wallets-the answer is probably both based on the site’s webpage and outside observers.
AQ&A liston the Collider’s website says robbing even a tiny amount from non-profit group like the Internet archive “would make you an unconditional jerk.” But it also suggests other wallets are fair game, and that proceeds would be divvied up among the Collider participants.
Meanwhile, others think the wallet-smashing endeavor is a fool’s errand, according toMotherboard, which first reported on the Large Bitcoin Collider. In this view, the project is too hard and the rewards too low and infrequent (as thisReddit commenter explains) to pay off.
But some speculate the goal of the project is not to rob a whole lot of wallets, but instead to strike a mother lode from a long-lost wallet from bitcoin’s early days:
“About 10% ofBitcoinswere created early, before 2012, and have never been traded. If somebody ever finds the key of the early lost Bitcoins, they’ll have a huge payoff, over a billion dollars. Speculation is that either “Satoshi Nakamoto”, whoever he is, is holding onto them for a big payoff, or somebody lost the private key for all those early Bitcoins. As the years go on, the second explanation seems more likely,” said the top comment on the siteHacker News.
Get Data Sheet,Fortunes technology newsletter.
As for the process of cracking open wallets, it involves the laborious task of creating private keys-which are dozens of characters in length-and trying them against existing bitcoin addresses. The Collider has so far created and checked3,000 trillionprivate keys, a researcher told Motherboard.
As for the legality of all this, it’s unclear. On one hand, the law is pretty clear that you are not supposed to join a conspiracy in order to rob people. But on the other hand, as the group’s website points out, “It is not illegal to search for colliding private keys.”
For bitcoin owners, the risk of the Large Bitcoin Collider performing a stick-up on your private wallet is pretty tiny for now. But if the process also results in someone creatinga collisionfor bitcoin’s general hashing algorithm-as happened with the longtime crypographic standard SHA-1 (cracked byGooglethis year)-that would spell a lot more trouble, though as one readerpoints out, bitcoin’s encryption algorithm can be upgraded.
This article was originally published on FORTUNE.com || Bitcoin Wallets Under Siege From 'Large Collider' Attack: A group called the Large Bitcoin Collider claims it can smash open bitcoin wallets by using a so-called brute force attack, which directs mass amounts of computer power at individual wallets in order to guess their private keys. The project, which has been underway for months, relies on a distributed network of computers (similar to bitcoin itself), and invites anyone to participate-those who do could potentially share in the proceeds of the wallets cracked open. A trophy list on the home page of Collider (an apparent reference to the Hadron Collider ) suggests the group has successfully opened over a dozen wallets, though only three had any bitcoin in them. Its unclear if the group is motivated by financial gain or the cryptographic challenge of smashing wallets-the answer is probably both based on the sites webpage and outside observers. A Q&A list on the Colliders website says robbing even a tiny amount from non-profit group like the Internet archive would make you an unconditional jerk. But it also suggests other wallets are fair game, and that proceeds would be divvied up among the Collider participants. Meanwhile, others think the wallet-smashing endeavor is a fools errand, according to Motherboard , which first reported on the Large Bitcoin Collider. In this view, the project is too hard and the rewards too low and infrequent (as this Reddit commenter explains ) to pay off. But some speculate the goal of the project is not to rob a whole lot of wallets, but instead to strike a mother lode from a long-lost wallet from bitcoins early days: About 10% of Bitcoins were created early, before 2012, and have never been traded. If somebody ever finds the key of the early lost Bitcoins, theyll have a huge payoff, over a billion dollars. Speculation is that either Satoshi Nakamoto, whoever he is, is holding onto them for a big payoff, or somebody lost the private key for all those early Bitcoins. As the years go on, the second explanation seems more likely, said the top comment on the site Hacker News . Story continues Get Data Sheet , Fortune s technology newsletter. As for the process of cracking open wallets, it involves the laborious task of creating private keys-which are dozens of characters in length-and trying them against existing bitcoin addresses. The Collider has so far created and checked 3,000 trillion private keys, a researcher told Motherboard. As for the legality of all this, its unclear. On one hand, the law is pretty clear that you are not supposed to join a conspiracy in order to rob people. But on the other hand, as the groups website points out, It is not illegal to search for colliding private keys. For bitcoin owners, the risk of the Large Bitcoin Collider performing a stick-up on your private wallet is pretty tiny for now. But if the process also results in someone creating a collision for bitcoins general hashing algorithm-as happened with the longtime crypographic standard SHA-1 (cracked by Google this year)-that would spell a lot more trouble, though as one reader points out , bitcoins encryption algorithm can be upgraded. This article was originally published on FORTUNE.com
[Social Media Buzz]
One Bitcoin now worth $1254.02@bitstamp. High $1254.78. Low $1234.00. Market Cap $20.429 Billion #bitcoin pic.twitter.com/0RKxCMlevF || #DolarTrue BTC
24/04/2017 07:04 PM
BTC Venta Panama : 1209.17
BTC USA : 1259.00
BTC Compra VEF : 6,064,413
USD/VEF : 4914.1 || One Bitcoin now worth $1251.10@bitstamp. High $1252.00. Low $1234.00. Market Cap $20.381 Billion #bitcoin || 3:00~4:00時点のBitcoin市場はよこばいだったようだ。
直近の市場の平均Bitcoinの価格は138581.0円
変化率は0.055%
5:00までは反騰かな?
【AIコメントです:テスト中@パターンB】
#bitcoin
#AI || Méd...
|
1265.49, 1281.08, 1317.73, 1316.48, 1321.79, 1347.89, 1421.60, 1452.82, 1490.09, 1537.67
|
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 4365.94, 4347.11, 3880.76, 4009.97, 3779.13, 3820.72, 4257.42, 4278.85, 4017.27, 4214.67, 4139.88, 3894.13, 3956.89, 3753.99, 3521.10, 3419.94, 3476.11, 3614.23, 3502.66, 3424.59, 3486.95, 3313.68, 3242.48, 3236.76, 3252.84, 3545.86, 3696.06, 3745.95, 4134.44, 3896.54, 4014.18, 3998.98, 4078.60, 3815.49, 3857.30, 3654.83, 3923.92, 3820.41, 3865.95, 3742.70, 3843.52, 3943.41, 3836.74, 3857.72, 3845.19, 4076.63, 4025.25, 4030.85, 4035.30, 3678.92, 3687.37, 3661.30, 3552.95, 3706.05, 3630.68, 3655.01, 3678.56, 3657.84, 3728.57, 3601.01, 3576.03, 3604.58, 3585.12, 3600.87, 3599.77, 3602.46, 3583.97, 3470.45, 3448.12, 3486.18, 3457.79, 3487.95, 3521.06, 3464.01, 3459.15, 3466.36, 3413.77, 3399.47, 3666.78, 3671.20, 3690.19, 3648.43, 3653.53, 3632.07, 3616.88, 3620.81, 3629.79, 3673.84, 3915.71, 3947.09.
|
[Bitcoin Technical Analysis for 2019-02-19]
Volume: 9933626655, RSI (14-day): 71.18, 50-day EMA: 3723.80, 200-day EMA: 4997.44
[Wider Market Context]
Gold Price: 1340.10, Gold RSI: 75.79
Oil Price: 56.09, Oil RSI: 63.29
[Recent News (last 7 days)]
Crypto Market Round-Up: Another Bitcoin Break Near $4000 or Are The Bulls Rushing the Gate?: Bitcoin is over $3900 globally, though many exchanges still have it trading closer to $3850. Ethereum’s broken beyond $140, might take $150 before the day is through. Bitcoin Cash is right behind it. It’s green everywhere you look. Even Bitcoin SV is on the rebound, resting at $68 after $155 million in trades.
Of the top 100 cryptocurrencies, only 4 were showing a negative 24-hour change. One was Paxos Standard. We should expect a high amount of conversions to be going on with stablecoins today, a lot of turbulence in the market capitalization, as people get their money into various cryptos on the ride up.
The other three were something called Aurora, Power Ledger, and and Ark. Collectively they had less than $50 million in 24-hour volume, and Ark was the only big loser, dropping 14%. This likely has to do with people cashing out for Bitcoin or Ethereum, trying to catch the wave. They might come back when prices stabilize or begin to drop, or they might not. We’re only noting these four cryptos because they stand out as the day’s losers.
Let’s take a selection from the cream of the crop.
Read the full story onCCN.com. || Crypto Market Round-Up: Another Bitcoin Break Near $4000 or Are The Bulls Rushing the Gate?: Bitcoin is over $3900 globally, though many exchanges still have it trading closer to $3850. Ethereum’s broken beyond $140, might take $150 before the day is through. Bitcoin Cash is right behind it. It’s green everywhere you look. Even Bitcoin SV is on the rebound, resting at $68 after $155 million in trades.
Of the top 100 cryptocurrencies, only 4 were showing a negative 24-hour change. One was Paxos Standard. We should expect a high amount of conversions to be going on with stablecoins today, a lot of turbulence in the market capitalization, as people get their money into various cryptos on the ride up.
The other three were something called Aurora, Power Ledger, and and Ark. Collectively they had less than $50 million in 24-hour volume, and Ark was the only big loser, dropping 14%. This likely has to do with people cashing out for Bitcoin or Ethereum, trying to catch the wave. They might come back when prices stabilize or begin to drop, or they might not. We’re only noting these four cryptos because they stand out as the day’s losers.
Let’s take a selection from the cream of the crop.
Read the full story onCCN.com. || Crypto Market Round-Up: Another Bitcoin Break Near $4000 or Are The Bulls Rushing the Gate?: Bitcoin, cryptocurrency Bitcoin is over $3900 globally, though many exchanges still have it trading closer to $3850. Ethereum’s broken beyond $140, might take $150 before the day is through. Bitcoin Cash is right behind it. It’s green everywhere you look. Even Bitcoin SV is on the rebound, resting at $68 after $155 million in trades. Of the top 100 cryptocurrencies, only 4 were showing a negative 24-hour change. One was Paxos Standard. We should expect a high amount of conversions to be going on with stablecoins today, a lot of turbulence in the market capitalization, as people get their money into various cryptos on the ride up. The other three were something called Aurora, Power Ledger, and and Ark. Collectively they had less than $50 million in 24-hour volume, and Ark was the only big loser, dropping 14%. This likely has to do with people cashing out for Bitcoin or Ethereum, trying to catch the wave. They might come back when prices stabilize or begin to drop, or they might not. We’re only noting these four cryptos because they stand out as the day’s losers. Let’s take a selection from the cream of the crop. Read the full story on CCN.com . || Blockstream Publishes Schnorr-Based Test Code for Bitcoin Blockchain Upgrade: The Schnorr-based multi-signature scheme MuSig, a test code for a potential upgrade to the Bitcoin (BTC) blockchain, has been released byblockchaintech firmBlockstream, according to an announcementpublishedon Feb. 18.
Last January, four Bitcoin developersreleaseda paper outlining how Schnorr multi-signatures (‘multisig’) could help scale the Bitcoin blockchain, saying that the technology could reduce its transaction size and “improve both performance and user privacy in Bitcoin”. In thepaper, the developers state that MuSig is designed as “a protocol that allows a group of signers to produce a short, joint signature on a common message.”
Today’s announcement reveals that MuSig has been turned from an idea into usable code, while this week the code was also merged into secp256k1-zkp, a fork of secp256k1 representing “the high-assurance cryptographic library used by Bitcoin Core.”
In the post, the developers explain their decision to develop MuSig by creating “a misuse-resistant API without sharp corners, and which doesn’t encourage dangerous usage patterns even in constrained environments.” The post also stresses the necessity of improving verification efficiency and developing provable security in the public key model. MuSig signatures purportedly improve privacy since they hide the exact signer policy.
However, since the beginning of the MuSig development, its creators have reportedly found that a number of already published signature schemes — including an earlier unpublished version of MuSig — are insecure. The post further reads:
“MuSig signatures, just like Schnorr signatures or ECDSA, use in their construction a secret ‘nonce’ which must be produced uniformly randomly. Any deviation from uniform, even by a single bit, can lead to secret key loss and stolen funds.”
For now, the developers are asking community members to test the code, which is reportedly posted on GitHub, and provide feedback.
Bitcoin’s next halving isexpectedto happen in May 2020. Bitcoin halving is an event that happens roughly once every four years, after which the amount of new BTC created and earned by miners will be cut in half.
In anticipation of the next halving,United States-regulated trading and clearing platform LedgerXreleaseda new type of derivative contract unique to BTC called LedgerX Halving Contract (LXHC). The new product represents a binary option and reportedly “allows you to get a fixed payoff if the next halving block (#630,000) happens before a certain date and time. If the block is discovered after, the contract expires at zero.”
• General Motors’ Finance Arm Joins Blockchain Data Security Initiative
• Japan’s Second-Largest Securities Brokerage Daiwa Completes Blockchain Pilot
• Major Japanese Trading Firm Marubeni Partners with US Blockchain Company LO3 Energy
• New Survey Indicates Businesses Unprepared to Deploy Blockchain Technology || Blockstream Publishes Schnorr-Based Test Code for Bitcoin Blockchain Upgrade: The Schnorr-based multi-signature scheme MuSig, a test code for a potential upgrade to the Bitcoin (BTC) blockchain, has been released byblockchaintech firmBlockstream, according to an announcementpublishedon Feb. 18.
Last January, four Bitcoin developersreleaseda paper outlining how Schnorr multi-signatures (‘multisig’) could help scale the Bitcoin blockchain, saying that the technology could reduce its transaction size and “improve both performance and user privacy in Bitcoin”. In thepaper, the developers state that MuSig is designed as “a protocol that allows a group of signers to produce a short, joint signature on a common message.”
Today’s announcement reveals that MuSig has been turned from an idea into usable code, while this week the code was also merged into secp256k1-zkp, a fork of secp256k1 representing “the high-assurance cryptographic library used by Bitcoin Core.”
In the post, the developers explain their decision to develop MuSig by creating “a misuse-resistant API without sharp corners, and which doesn’t encourage dangerous usage patterns even in constrained environments.” The post also stresses the necessity of improving verification efficiency and developing provable security in the public key model. MuSig signatures purportedly improve privacy since they hide the exact signer policy.
However, since the beginning of the MuSig development, its creators have reportedly found that a number of already published signature schemes — including an earlier unpublished version of MuSig — are insecure. The post further reads:
“MuSig signatures, just like Schnorr signatures or ECDSA, use in their construction a secret ‘nonce’ which must be produced uniformly randomly. Any deviation from uniform, even by a single bit, can lead to secret key loss and stolen funds.”
For now, the developers are asking community members to test the code, which is reportedly posted on GitHub, and provide feedback.
Bitcoin’s next halving isexpectedto happen in May 2020. Bitcoin halving is an event that happens roughly once every four years, after which the amount of new BTC created and earned by miners will be cut in half.
In anticipation of the next halving,United States-regulated trading and clearing platform LedgerXreleaseda new type of derivative contract unique to BTC called LedgerX Halving Contract (LXHC). The new product represents a binary option and reportedly “allows you to get a fixed payoff if the next halving block (#630,000) happens before a certain date and time. If the block is discovered after, the contract expires at zero.”
• General Motors’ Finance Arm Joins Blockchain Data Security Initiative
• Japan’s Second-Largest Securities Brokerage Daiwa Completes Blockchain Pilot
• Major Japanese Trading Firm Marubeni Partners with US Blockchain Company LO3 Energy
• New Survey Indicates Businesses Unprepared to Deploy Blockchain Technology || Blockstream Publishes Schnorr-Based Test Code for Bitcoin Blockchain Upgrade: The Schnorr-based multi-signature scheme MuSig, a test code for a potential upgrade to the Bitcoin ( BTC ) blockchain, has been released by blockchain tech firm Blockstream , according to an announcement published on Feb. 18. Last January, four Bitcoin developers released a paper outlining how Schnorr multi-signatures (‘multisig’) could help scale the Bitcoin blockchain, saying that the technology could reduce its transaction size and “improve both performance and user privacy in Bitcoin”. In the paper , the developers state that MuSig is designed as “a protocol that allows a group of signers to produce a short, joint signature on a common message.” Today’s announcement reveals that MuSig has been turned from an idea into usable code, while this week the code was also merged into secp256k1-zkp, a fork of secp256k1 representing “the high-assurance cryptographic library used by Bitcoin Core.” In the post, the developers explain their decision to develop MuSig by creating “a misuse-resistant API without sharp corners, and which doesn’t encourage dangerous usage patterns even in constrained environments.” The post also stresses the necessity of improving verification efficiency and developing provable security in the public key model. MuSig signatures purportedly improve privacy since they hide the exact signer policy. However, since the beginning of the MuSig development, its creators have reportedly found that a number of already published signature schemes — including an earlier unpublished version of MuSig — are insecure. The post further reads: “MuSig signatures, just like Schnorr signatures or ECDSA, use in their construction a secret ‘nonce’ which must be produced uniformly randomly. Any deviation from uniform, even by a single bit, can lead to secret key loss and stolen funds.” For now, the developers are asking community members to test the code, which is reportedly posted on GitHub, and provide feedback. Story continues Bitcoin’s next halving is expected to happen in May 2020. Bitcoin halving is an event that happens roughly once every four years, after which the amount of new BTC created and earned by miners will be cut in half. In anticipation of the next halving, United States -regulated trading and clearing platform LedgerX released a new type of derivative contract unique to BTC called LedgerX Halving Contract (LXHC). The new product represents a binary option and reportedly “allows you to get a fixed payoff if the next halving block (#630,000) happens before a certain date and time. If the block is discovered after, the contract expires at zero.” Related Articles: General Motors’ Finance Arm Joins Blockchain Data Security Initiative Japan’s Second-Largest Securities Brokerage Daiwa Completes Blockchain Pilot Major Japanese Trading Firm Marubeni Partners with US Blockchain Company LO3 Energy New Survey Indicates Businesses Unprepared to Deploy Blockchain Technology || Bank of Spain: Bitcoin Unable to Solve Problems of Traditional Payment Systems: An official fromSpain’scentral bank, the Bank of Spain (BDE) believes that Bitcoin (BTC) is unable to resolve the problems faced by major payment systems. BDE’s Deputy General Director for financial innovations and market infrastructure, Carlos Colesa, gave his opinion on the leading cryptocurrency in areportpublished on Sunday, Feb. 17.
The study dubbed "Bitcoin: a solution for payment systems or a solution in search of a problem?," is marked as an “occasional paper,” according toCointelegraph en Español. This means that the Bank of Spain does not necessarily share the stance of the author.
Colesa compared Bitcoin to traditionalpaymentsystems and financial intermediaries. First, he says that the Bitcoinblockchainprocesses only 250,000 transactions daily, which is a relatively small volume for a global system. For instance, major Spanish retail system, the Sistema Nacional de Compensación Electrónica (SNCE), reportedly handled around 7.2 million payments daily, as of 2017.
Given that theminershave to approve transactions, Bitcoin payments are slow, and the time required for a transactions is purportedly unpredictable. Thus, the Proof of Work (PoW) in fact limits the capacity of the whole system instead of yielding benefits, Colesa concludes. The report further states that the absence of governance and coordination impedes improvements to the system.
According to Colesa, the combination of private and public keys is a very unreliable system that is vulnerable to various types offraudandscams. Moreover, the report states that loss of private keys means that users’ funds can never be restored.
The report echoes the stance of some Bitcoin sceptics, such as Nouriel Roubini, who believe that crypto is in factvery centralized. For instance, crypto has commissions for transactions, and the payment speed depends on its rate. The average rate is set by mining pools, which, according to the expert, have enough power to control the system in order to get more rewards. Colesa concludes:
“It is unlikely that Bitcoin in its current modification will have any significant impact on the finance sector as an alternative to traditional payment systems.”
Earlier this month the bankissueda reminder to citizens, warning of the risks related to cryptocurrencies. The document notes that they are not yet regulated in the country, while exchanges are not authorized by the central bank and thus the funds stored there cannot be protected by the government. Moreover, the BDE governor, Pablo Hernández de Cos, has determined that crypto “cannot replace money and is not a means of payment or common exchange.”
• Japan: E-Commerce Giant Rakuten’s New Payment App Appears to Support Crypto
• Chinese Crypto Miner Predicts That Bitcoin Could Reach $740K
• Chinese Bitcoin Billionaire Zhao Dong Believes Crypto Spring Will Come in 2020
• Fundstrat Expects 2019 to Bring Incremental Improvements Supporting Higher Crypto Prices || Bank of Spain: Bitcoin Unable to Solve Problems of Traditional Payment Systems: An official from Spain’s central bank , the Bank of Spain (BDE) believes that Bitcoin ( BTC ) is unable to resolve the problems faced by major payment systems. BDE’s Deputy General Director for financial innovations and market infrastructure, Carlos Colesa, gave his opinion on the leading cryptocurrency in a report published on Sunday, Feb. 17. The study dubbed "Bitcoin: a solution for payment systems or a solution in search of a problem?," is marked as an “occasional paper,” according to Cointelegraph en Español . This means that the Bank of Spain does not necessarily share the stance of the author. Colesa compared Bitcoin to traditional payment systems and financial intermediaries. First, he says that the Bitcoin blockchain processes only 250,000 transactions daily, which is a relatively small volume for a global system. For instance, major Spanish retail system, the Sistema Nacional de Compensación Electrónica (SNCE), reportedly handled around 7.2 million payments daily, as of 2017. Given that the miners have to approve transactions, Bitcoin payments are slow, and the time required for a transactions is purportedly unpredictable. Thus, the Proof of Work ( PoW ) in fact limits the capacity of the whole system instead of yielding benefits, Colesa concludes. The report further states that the absence of governance and coordination impedes improvements to the system. According to Colesa, the combination of private and public keys is a very unreliable system that is vulnerable to various types of fraud and scams . Moreover, the report states that loss of private keys means that users’ funds can never be restored. The report echoes the stance of some Bitcoin sceptics, such as Nouriel Roubini, who believe that crypto is in fact very centralized . For instance, crypto has commissions for transactions, and the payment speed depends on its rate. The average rate is set by mining pools, which, according to the expert, have enough power to control the system in order to get more rewards. Colesa concludes: Story continues “It is unlikely that Bitcoin in its current modification will have any significant impact on the finance sector as an alternative to traditional payment systems.” Earlier this month the bank issued a reminder to citizens, warning of the risks related to cryptocurrencies. The document notes that they are not yet regulated in the country, while exchanges are not authorized by the central bank and thus the funds stored there cannot be protected by the government. Moreover, the BDE governor, Pablo Hernández de Cos, has determined that crypto “cannot replace money and is not a means of payment or common exchange.” Related Articles: Japan: E-Commerce Giant Rakuten’s New Payment App Appears to Support Crypto Chinese Crypto Miner Predicts That Bitcoin Could Reach $740K Chinese Bitcoin Billionaire Zhao Dong Believes Crypto Spring Will Come in 2020 Fundstrat Expects 2019 to Bring Incremental Improvements Supporting Higher Crypto Prices || Bank of Spain: Bitcoin Unable to Solve Problems of Traditional Payment Systems: An official fromSpain’scentral bank, the Bank of Spain (BDE) believes that Bitcoin (BTC) is unable to resolve the problems faced by major payment systems. BDE’s Deputy General Director for financial innovations and market infrastructure, Carlos Colesa, gave his opinion on the leading cryptocurrency in areportpublished on Sunday, Feb. 17.
The study dubbed "Bitcoin: a solution for payment systems or a solution in search of a problem?," is marked as an “occasional paper,” according toCointelegraph en Español. This means that the Bank of Spain does not necessarily share the stance of the author.
Colesa compared Bitcoin to traditionalpaymentsystems and financial intermediaries. First, he says that the Bitcoinblockchainprocesses only 250,000 transactions daily, which is a relatively small volume for a global system. For instance, major Spanish retail system, the Sistema Nacional de Compensación Electrónica (SNCE), reportedly handled around 7.2 million payments daily, as of 2017.
Given that theminershave to approve transactions, Bitcoin payments are slow, and the time required for a transactions is purportedly unpredictable. Thus, the Proof of Work (PoW) in fact limits the capacity of the whole system instead of yielding benefits, Colesa concludes. The report further states that the absence of governance and coordination impedes improvements to the system.
According to Colesa, the combination of private and public keys is a very unreliable system that is vulnerable to various types offraudandscams. Moreover, the report states that loss of private keys means that users’ funds can never be restored.
The report echoes the stance of some Bitcoin sceptics, such as Nouriel Roubini, who believe that crypto is in factvery centralized. For instance, crypto has commissions for transactions, and the payment speed depends on its rate. The average rate is set by mining pools, which, according to the expert, have enough power to control the system in order to get more rewards. Colesa concludes:
“It is unlikely that Bitcoin in its current modification will have any significant impact on the finance sector as an alternative to traditional payment systems.”
Earlier this month the bankissueda reminder to citizens, warning of the risks related to cryptocurrencies. The document notes that they are not yet regulated in the country, while exchanges are not authorized by the central bank and thus the funds stored there cannot be protected by the government. Moreover, the BDE governor, Pablo Hernández de Cos, has determined that crypto “cannot replace money and is not a means of payment or common exchange.”
• Japan: E-Commerce Giant Rakuten’s New Payment App Appears to Support Crypto
• Chinese Crypto Miner Predicts That Bitcoin Could Reach $740K
• Chinese Bitcoin Billionaire Zhao Dong Believes Crypto Spring Will Come in 2020
• Fundstrat Expects 2019 to Bring Incremental Improvements Supporting Higher Crypto Prices || Bitmain Unveils Its Latest Energy-Efficient Mining Chip for Bitcoin: Bitmain Unveils Its Latest Energy-Efficient Mining Chip for Bitcoin China-based mining giant Bitmain has announced a new mining rig that uses less power. The hardware mining manufacturer has launched a 7nm application-specific integrated circuit (ASIC) processor dubbed the BM1397. Beyond energy efficiency, the new mining processor promises to achieve faster performance for mining cryptocurrencies that use the SHA256 algorithm for their proof of work (PoW), including Bitcoin and its hard forks. Like the BM1391 chip that came before it, the BM1397 will be powered by the advanced semiconductor manufacturing technology called the 7nm FinFET process, integrating more than a billion transistors and optimized for maximum efficiency." A statement from Bitmain on its blog reads: "The new BM1397 chip requires lower power and can offer an energy consumption to computing ratio as low as 30J/TH. This is a 28.6 percent improvement in power efficiency in comparison with Bitmains previous 7nm chip, the BM1391." Since the market crashed last year, cryptocurrency miners have been shutting down operations across the world as it has become less profitable to mine bitcoin with falling prices and fixed energy costs. Bitmain , which has had operational issues of its own, touts its BM1397 as a solution for miners who want to improve the performance of their mining operations. The new 7nm bitcoin mining processor will feature in Bitmain's soon-to-be-released Antminer mining rigs the S17 and T17. Bitmain also unveiled a mining rig for the Equihash algorithm used by privacy-centered crypto Zcash and an Ethereum-focused ASIC miner last year. At the time, the development of ASIC miners prompted Ethereum's core developers to agree to implement a new ASIC-blocking algorithm, programmatic proof of work (ProgPoW), which restricts the mining hardware on the network. Security lead of the Ethereum Foundation, Martin Holst Swende, had noted at the time that implementing the code change would hasten the network's eventual transition to a proof-of-stake algorithm, where ether is mined by staking coins, not by burning energy. This article originally appeared on Bitcoin Magazine . View comments || Bitmain Unveils Its Latest Energy-Efficient Mining Chip for Bitcoin: China-based mining giant Bitmain hasannounceda new mining rig that uses less power. The hardware mining manufacturer has launched a 7nm application-specific integrated circuit (ASIC) processor dubbed the BM1397.
Beyond energy efficiency, the new mining processor promises to achieve faster performance for mining cryptocurrencies that use the SHA256 algorithm for their proof of work (PoW), including Bitcoin and its hard forks.
Like the BM1391 chip that came before it, the BM1397 will be powered by the advanced semiconductor manufacturing technology called the 7nm FinFET process,integrating more thana billion transistors and “optimized for maximum efficiency."
A statement from Bitmain on its blog reads:
"The new BM1397 chip requires lower power and can offer an energy consumption to computing ratio as low as 30J/TH. This is a 28.6 percent improvement in power efficiency in comparison with Bitmain’s previous 7nm chip, the BM1391."
Since the market crashed last year, cryptocurrency miners have been shutting down operations across the world as it has become less profitable to mine bitcoin with falling prices and fixed energy costs.Bitmain, which has hadoperationalissues of its own, touts its BM1397 as a solution for miners who want to improve the performance of their mining operations. The new 7nm bitcoin mining processor will feature in Bitmain's soon-to-be-released Antminer mining rigs — the S17 and T17.
Bitmain also unveiled a mining rig for the Equihash algorithm used byprivacy-centered crypto Zcashand an Ethereum-focused ASIC miner last year.
At the time, the development of ASIC miners prompted Ethereum's core developers to agree to implement a new ASIC-blocking algorithm, programmatic proof of work (ProgPoW), which restricts the mining hardware on the network.
Security lead of the Ethereum Foundation, Martin Holst Swende, had noted at the time that implementing the code change would hasten the network's eventual transition to a proof-of-stake algorithm, where ether is mined by staking coins, not by burning energy.
This article originally appeared onBitcoin Magazine. || Bitmain Unveils Its Latest Energy-Efficient Mining Chip for Bitcoin: China-based mining giant Bitmain hasannounceda new mining rig that uses less power. The hardware mining manufacturer has launched a 7nm application-specific integrated circuit (ASIC) processor dubbed the BM1397.
Beyond energy efficiency, the new mining processor promises to achieve faster performance for mining cryptocurrencies that use the SHA256 algorithm for their proof of work (PoW), including Bitcoin and its hard forks.
Like the BM1391 chip that came before it, the BM1397 will be powered by the advanced semiconductor manufacturing technology called the 7nm FinFET process,integrating more thana billion transistors and “optimized for maximum efficiency."
A statement from Bitmain on its blog reads:
"The new BM1397 chip requires lower power and can offer an energy consumption to computing ratio as low as 30J/TH. This is a 28.6 percent improvement in power efficiency in comparison with Bitmain’s previous 7nm chip, the BM1391."
Since the market crashed last year, cryptocurrency miners have been shutting down operations across the world as it has become less profitable to mine bitcoin with falling prices and fixed energy costs.Bitmain, which has hadoperationalissues of its own, touts its BM1397 as a solution for miners who want to improve the performance of their mining operations. The new 7nm bitcoin mining processor will feature in Bitmain's soon-to-be-released Antminer mining rigs — the S17 and T17.
Bitmain also unveiled a mining rig for the Equihash algorithm used byprivacy-centered crypto Zcashand an Ethereum-focused ASIC miner last year.
At the time, the development of ASIC miners prompted Ethereum's core developers to agree to implement a new ASIC-blocking algorithm, programmatic proof of work (ProgPoW), which restricts the mining hardware on the network.
Security lead of the Ethereum Foundation, Martin Holst Swende, had noted at the time that implementing the code change would hasten the network's eventual transition to a proof-of-stake algorithm, where ether is mined by staking coins, not by burning energy.
This article originally appeared onBitcoin Magazine. || Bitcoin, Ethereum, Ripple, EOS, Litecoin, Bitcoin Cash, TRON, Stellar, Binance Coin, Bitcoin SV: Price Analysis, February 18: The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, you should conduct your own research when making a decision. Market data is provided by the HitBTC exchange. CNBC commentator and CEO of digital currency investment firm BKCM LLC, Brian Kelly, believes that, Bitcoin is about 50 percent undervalued. However, just because it is undervalued is not a good enough reason for it to move up. Kelly opines that due to extreme negative sentiment, he will not be surprised even if Bitcoin drops to $1,500. While it is difficult to predict where the current bear market will bottom out, various experts believe that the next bull run will be a strong one. Zhu Fa, the co-founder of Poolin, a Chinese-based crypto mining pool, is extremely ambitious as he expects Bitcoin to reach $738,000 during the next bull phase. However, he also warns that the next bull run might be the last. Though astronomical price targets look enticing, we are currently looking for fundamental developments to carry crypto prices out of the bear market. Japanese e-commerce firm Rakuten is likely to integrate crypto payments in its mobile app that will be released on March 18. If this happens, it will be a welcome step in bringing crypto closer to mass adoption. There have been a few recovery attempts in the past few months but they have not sustained. Will the current recovery signal a bottom? Lets look at the charts to find out. BTC/USD Unlike previous occasions, the tight range in Bitcoin ( BTC ) has resolved to the upside. Currently, the price is attempting to break out of the downtrend line, which has been a stiff resistance since the end November 2018. A break out of this resistance will indicate strength and attract buyers. Traders can wait for a close (UTC time frame) above the downtrend line and buy 30 percent of their desired allocation. The stop loss can be kept just below the lows at $3,200. The next level to watch on the upside is $4,255. Story continues A breakout above $4,255 will complete a double bottom pattern, that has a target objective of $5,273.91. Traders can add the remaining 70 percent position on a breakout and close above $4,255. Contrary to our expectation, if the bears defend the overhead resistance of $4,255, the BTC/USD pair will remain range bound for a few more days. Our bullish view will be invalidated if the pair turns down and plunges below $3,236.09. ETH/USD Ethereum ( ETH ) broke out of the overhead resistance at $134.50 on Feb. 17 and has soared higher. Its next target is $167.32. Traders who have long positions can trail half of their stops closely so as to protect about 75 percent of paper gains. The remaining position can be held with the stop at the breakeven. We do not recommend booking complete profits because we anticipate a move to $167.32 and higher. Hence, we will give some wiggle room for half of the positions. The 20-day EMA is gradually sloping higher and the RSI has reached the overbought zone. This shows that the bulls are in command. The pair is in the early stage of forming an ascending triangle pattern. Our bullish view will be negated if the ETH/USD pair turns down from the current levels and plunges back below $134.50. XRP/USD Ripple ( XRP ) has broken out of the 20-day EMA and the 50-day SMA, which is a positive sign. It can now move up to $0.33108. The price has stayed below $0.33108 since Jan. 10 of this year. Hence, a break out of this level signifies bullishness. Traders can enter long positions on a breakout and close (UTC time frame) above $0.33108. The stop loss can be kept at $0.275. The target objective of this trade is $0.40 and higher. Contrary to our assumption, if the XRP/USD pair turns down from the overhead resistance, it might remain range bound for a few days. The downtrend will resume on a breakdown of critical zone of $0.27795 and $0.24508. The flattening moving averages and the RSI close to 50 point to a consolidation in the near term. EOS/USD EOS has broken out of the overhead resistance zone of $3.05$3.2081. Its next target objective is $3.8723 and above it $4.4930. The gradual up-sloping 20-day EMA and the RSI in the overbought zone shows that bulls have the upper hand. Traders who are long can protect half of their positions with a tight stop and trail the rest with a stop at $2.50. We anticipate some resistance at $3.8723 but it is likely to be scaled. The target objective on the EOS/USD pair remains at $4.4930. Our bullish assumption will be invalidated if the bears reverse direction sharply and push the price back below $3.2081. LTC/USD After inching higher for the past three days, Litecoin ( LTC ) finally broke out of the overhead resistance at $47.2460. If the bulls sustain the breakout, the next target is $56.910. The uptrending moving averages and the RSI close to overbought territory shows that the path of least resistance is to the upside. Nonetheless, if the bulls fail to sustain above $47.2460, the traders can book partial profits on their long positions and raise the stop loss on the rest to $40. A break below this level can result in a fall to $35 and lower. The LTC/USD pair will turn bearish if it breaks down from the critical support at $27.701. BCH/USD After staying close to $121 for the past six days, Bitcoin Cash ( BCH ) has started its journey northwards. It is currently facing some resistance at $141. However, after breaking out of $141, we expect it to pick up momentum. Therefore, traders can buy on a close (UTC time frame) above $141 and keep the stop loss below the recent lows of $116. The first level to watch on the upside is $163, above which the up move can extend to $175. The BCH/USD pair might consolidate or correct closer to $175. However, the pair has a history of vertical rallies. If the bulls pierce through $175, it will open the door for a rally to $220. All our bullish expectations will be negated if the pair turns down from $141. The trend will turn negative if the bears sink the virtual currency below $103. TRX/USD The bulls are attempting to stabilize TRON ( TRX ) for the past five days but are facing resistance at the 50-day SMA. The moving averages are on the verge of a bearish crossover, which will indicate weakness. A breakdown of $0.02344160 can drag it to $0.02113440 and below it to $0.01830000. On the other hand, if the TRX/USD pair scales above both the moving averages, it will face selling at the downtrend line and above it at $0.02815521. The pair will pick up momentum if it sustains above $0.02815521. The targets to watch on the upside are $0.0380 and above it $0.040. Traders who are long can keep their stops at $0.0230. XLM/USD For the past three days, Stellar ( XLM ) had been attempting to break out of the 20-day EMA. Though unsuccessful, we liked the way it did not give up any ground. A breakout above the 20-day EMA can carry it to the downtrend line and above it to the 50-day SMA. But as the digital currency has not participated in the recent pullback, we will wait for it to form a bullish setup before suggesting a trade in it. Contrary to our expectation, if the XLM/USD pair fails to scale above the overhead resistances, it will enter into a consolidation. The 20-day EMA has flattened out and RSI is also inching towards the midpoint. This points to a range formation in the short term. The pair will turn negative if it plummets below the recent low of $0.07256747. Following a breakdown, the next support on the downside is at $0.05795397. BNB/USD Binance Coin ( BNB ) has again risen close to the overhead resistance of $10. We anticipate strong selling in the $10$12 zone. From mid-August to mid-November, it had struggled to break out of this range on two occasions. Still, if the price sustains above $10, it will signal strength. A consolidation between $10 to $12 will be bullish for the BNB/USD pair because a breakout can push it to $15 and above it to $18. Conversely, if the pair turns down from the current levels and breaks below the 20-day EMA, it can slide to the 50-day SMA, which is a critical support. We do not find any reliable buy setup with a good risk to reward ratio, hence, we are not suggesting any fresh long positions in it. BSV/USD Bitcoin SV has broken out of the 20-day EMA. This had been a major roadblock since Jan. 3 and the price had repeatedly turned down from it. The BSV/USD pair is currently facing resistance at $71.412 and the 50-day SMA. Traders can initiate a long position on a close (UTC time frame) above the 50-day SMA, with a target objective of $102.580. The failure of the bears to capitalize on the weakness and sink the price below $57 shows demand at lower levels. Our bullish view will be invalidated if the pair turns down from current levels and breaks down of $57. If that happens, a drop to $38.528 is probable. Market data is provided by the HitBTC exchange. Charts for analysis are provided by TradingView . Related Articles: Bitcoin, Ethereum, Ripple, Litecoin, EOS, Bitcoin Cash, TRON, Stellar, Binance Coin, Bitcoin SV: Price Analysis, February 15 Bitcoin, Ethereum, Ripple, EOS, Litecoin, Bitcoin Cash, Tron, Stellar, Binance Coin, Bitcoin SV: Price Analysis, Feb. 13 Bitcoin, Ethereum, Ripple, Litecoin, EOS, Bitcoin Cash, TRON, Stellar, Binance Coin, Bitcoin SV: Price Analysis, Feb. 11 Bitcoin, Ripple, Ethereum, Litecoin, EOS, Bitcoin Cash, Tron, Stellar, Binance Coin, Bitcoin SV: Price Analysis, Feb. 8 || Bitcoin, Ethereum, Ripple, EOS, Litecoin, Bitcoin Cash, TRON, Stellar, Binance Coin, Bitcoin SV: Price Analysis, February 18: The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, you should conduct your own research when making a decision.
Market data is provided by theHitBTCexchange.
CNBC commentator and CEO of digital currency investment firm BKCM LLC, Brian Kelly, believes that, “Bitcoin is about50 percentundervalued.” However, just because it is undervalued is not a good enough reason for it to move up. Kelly opines that due to extreme negative sentiment, he will not be surprised even if Bitcoin drops to $1,500.
While it is difficult to predict where the current bear market will bottom out, various experts believe that the next bull run will be a strong one. Zhu Fa, the co-founder of Poolin, a Chinese-based crypto mining pool, is extremely ambitious as he expects Bitcoin to reach$738,000during the next bull phase. However, he also warns that the next bull run might be the last.
Though astronomical price targets look enticing, we are currently looking for fundamental developments to carry crypto prices out of the bear market. Japanese e-commerce firm Rakuten is likely to integratecrypto paymentsin its mobile app that will be released on March 18. If this happens, it will be a welcome step in bringing crypto closer to mass adoption.
There have been a few recovery attempts in the past few months but they have not sustained. Will the current recovery signal a bottom? Let’s look at the charts to find out.
Unlike previous occasions, the tight range in Bitcoin (BTC) has resolved to the upside. Currently, the price is attempting to break out of the downtrend line, which has been a stiff resistance since the end November 2018. A break out of this resistance will indicate strength and attract buyers.
Traders can wait for a close (UTC time frame) above the downtrend line and buy 30 percent of their desired allocation. The stop loss can be kept just below the lows at $3,200. The next level to watch on the upside is $4,255.
A breakout above $4,255 will complete a double bottom pattern, that has a target objective of $5,273.91. Traders can add the remaining 70 percent position on a breakout and close above $4,255.
Contrary to our expectation, if the bears defend the overhead resistance of $4,255, theBTC/USDpair will remain range bound for a few more days. Our bullish view will be invalidated if the pair turns down and plunges below $3,236.09.
Ethereum (ETH) broke out of the overhead resistance at $134.50 on Feb. 17 and has soared higher. Its next target is $167.32. Traders who havelongpositions can trail half of their stops closely so as to protect about 75 percent of paper gains. The remaining position can be held with the stop at the breakeven. We do not recommend booking complete profits because we anticipate a move to $167.32 and higher. Hence, we will give some wiggle room for half of the positions.
The 20-day EMA is gradually sloping higher and the RSI has reached the overbought zone. This shows that the bulls are in command. The pair is in the early stage of forming an ascending triangle pattern. Our bullish view will be negated if theETH/USDpair turns down from the current levels and plunges back below $134.50.
Ripple (XRP) has broken out of the 20-day EMA and the 50-day SMA, which is a positive sign. It can now move up to $0.33108. The price has stayed below $0.33108 since Jan. 10 of this year. Hence, a break out of this level signifies bullishness. Traders can enter long positions on a breakout and close (UTC time frame) above $0.33108. The stop loss can be kept at $0.275. The target objective of this trade is $0.40 and higher.
Contrary to our assumption, if theXRP/USDpair turns down from the overhead resistance, it might remain range bound for a few days. The downtrend will resume on a breakdown of critical zone of $0.27795 and $0.24508. The flattening moving averages and the RSI close to 50 point to a consolidation in the near term.
EOShas broken out of the overhead resistance zone of $3.05–$3.2081. Its next target objective is $3.8723 and above it $4.4930. The gradual up-sloping 20-day EMA and the RSI in the overbought zone shows that bulls have the upper hand. Traders who arelongcan protect half of their positions with a tight stop and trail the rest with a stop at $2.50.
We anticipate some resistance at $3.8723 but it is likely to be scaled. The target objective on theEOS/USDpair remains at $4.4930.
Our bullish assumption will be invalidated if the bears reverse direction sharply and push the price back below $3.2081.
After inching higher for the past three days, Litecoin (LTC) finally broke out of the overhead resistance at $47.2460. If the bulls sustain the breakout, the next target is $56.910. The uptrending moving averages and the RSI close to overbought territory shows that the path of least resistance is to the upside.
Nonetheless, if the bulls fail to sustain above $47.2460, the traders can book partial profits on theirlongpositions and raise the stop loss on the rest to $40. A break below this level can result in a fall to $35 and lower. TheLTC/USDpair will turn bearish if it breaks down from the critical support at $27.701.
After staying close to $121 for the past six days, Bitcoin Cash (BCH) has started its journey northwards. It is currently facing some resistance at $141.
However, after breaking out of $141, we expect it to pick up momentum. Therefore, traders can buy on a close (UTC time frame) above $141 and keep the stop loss below the recent lows of $116. The first level to watch on the upside is $163, above which the up move can extend to $175. TheBCH/USDpair might consolidate or correct closer to $175. However, the pair has a history of vertical rallies. If the bulls pierce through $175, it will open the door for a rally to $220.
All our bullish expectations will be negated if the pair turns down from $141. The trend will turn negative if the bears sink the virtual currency below $103.
The bulls are attempting to stabilize TRON (TRX) for the past five days but are facing resistance at the 50-day SMA. The moving averages are on the verge of a bearish crossover, which will indicate weakness. A breakdown of $0.02344160 can drag it to $0.02113440 and below it to $0.01830000.
On the other hand, if theTRX/USDpair scales above both the moving averages, it will face selling at the downtrend line and above it at $0.02815521. The pair will pick up momentum if it sustains above $0.02815521. The targets to watch on the upside are $0.0380 and above it $0.040. Traders who arelongcan keep their stops at $0.0230.
For the past three days, Stellar (XLM) had been attempting to break out of the 20-day EMA. Though unsuccessful, we liked the way it did not give up any ground. A breakout above the 20-day EMA can carry it to the downtrend line and above it to the 50-day SMA. But as the digital currency has not participated in the recent pullback, we will wait for it to form a bullish setup before suggesting a trade in it.
Contrary to our expectation, if theXLM/USDpair fails to scale above the overhead resistances, it will enter into a consolidation. The 20-day EMA has flattened out and RSI is also inching towards the midpoint. This points to a range formation in the short term.
The pair will turn negative if it plummets below the recent low of $0.07256747. Following a breakdown, the next support on the downside is at $0.05795397.
Binance Coin (BNB) has again risen close to the overhead resistance of $10. We anticipate strong selling in the $10–$12 zone. From mid-August to mid-November, it had struggled to break out of this range on two occasions.
Still, if the price sustains above $10, it will signal strength. A consolidation between $10 to $12 will be bullish for theBNB/USDpair because a breakout can push it to $15 and above it to $18.
Conversely, if the pair turns down from the current levels and breaks below the 20-day EMA, it can slide to the 50-day SMA, which is a critical support. We do not find any reliable buy setup with a good risk to reward ratio, hence, we are not suggesting any fresh long positions in it.
Bitcoin SV has broken out of the 20-day EMA. This had been a major roadblock since Jan. 3 and the price had repeatedly turned down from it.
TheBSV/USDpair is currently facing resistance at $71.412 and the 50-day SMA. Traders can initiate a long position on a close (UTC time frame) above the 50-day SMA, with a target objective of $102.580.
The failure of the bears to capitalize on the weakness and sink the price below $57 shows demand at lower levels. Our bullish view will be invalidated if the pair turns down from current levels and breaks down of $57. If that happens, a drop to $38.528 is probable.
Market data is provided by theHitBTCexchange. Charts for analysis are provided byTradingView.
• Bitcoin, Ethereum, Ripple, Litecoin, EOS, Bitcoin Cash, TRON, Stellar, Binance Coin, Bitcoin SV: Price Analysis, February 15
• Bitcoin, Ethereum, Ripple, EOS, Litecoin, Bitcoin Cash, Tron, Stellar, Binance Coin, Bitcoin SV: Price Analysis, Feb. 13
• Bitcoin, Ethereum, Ripple, Litecoin, EOS, Bitcoin Cash, TRON, Stellar, Binance Coin, Bitcoin SV: Price Analysis, Feb. 11
• Bitcoin, Ripple, Ethereum, Litecoin, EOS, Bitcoin Cash, Tron, Stellar, Binance Coin, Bitcoin SV: Price Analysis, Feb. 8 || Bitcoin, Ethereum, Ripple, EOS, Litecoin, Bitcoin Cash, TRON, Stellar, Binance Coin, Bitcoin SV: Price Analysis, February 18: The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, you should conduct your own research when making a decision.
Market data is provided by theHitBTCexchange.
CNBC commentator and CEO of digital currency investment firm BKCM LLC, Brian Kelly, believes that, “Bitcoin is about50 percentundervalued.” However, just because it is undervalued is not a good enough reason for it to move up. Kelly opines that due to extreme negative sentiment, he will not be surprised even if Bitcoin drops to $1,500.
While it is difficult to predict where the current bear market will bottom out, various experts believe that the next bull run will be a strong one. Zhu Fa, the co-founder of Poolin, a Chinese-based crypto mining pool, is extremely ambitious as he expects Bitcoin to reach$738,000during the next bull phase. However, he also warns that the next bull run might be the last.
Though astronomical price targets look enticing, we are currently looking for fundamental developments to carry crypto prices out of the bear market. Japanese e-commerce firm Rakuten is likely to integratecrypto paymentsin its mobile app that will be released on March 18. If this happens, it will be a welcome step in bringing crypto closer to mass adoption.
There have been a few recovery attempts in the past few months but they have not sustained. Will the current recovery signal a bottom? Let’s look at the charts to find out.
Unlike previous occasions, the tight range in Bitcoin (BTC) has resolved to the upside. Currently, the price is attempting to break out of the downtrend line, which has been a stiff resistance since the end November 2018. A break out of this resistance will indicate strength and attract buyers.
Traders can wait for a close (UTC time frame) above the downtrend line and buy 30 percent of their desired allocation. The stop loss can be kept just below the lows at $3,200. The next level to watch on the upside is $4,255.
A breakout above $4,255 will complete a double bottom pattern, that has a target objective of $5,273.91. Traders can add the remaining 70 percent position on a breakout and close above $4,255.
Contrary to our expectation, if the bears defend the overhead resistance of $4,255, theBTC/USDpair will remain range bound for a few more days. Our bullish view will be invalidated if the pair turns down and plunges below $3,236.09.
Ethereum (ETH) broke out of the overhead resistance at $134.50 on Feb. 17 and has soared higher. Its next target is $167.32. Traders who havelongpositions can trail half of their stops closely so as to protect about 75 percent of paper gains. The remaining position can be held with the stop at the breakeven. We do not recommend booking complete profits because we anticipate a move to $167.32 and higher. Hence, we will give some wiggle room for half of the positions.
The 20-day EMA is gradually sloping higher and the RSI has reached the overbought zone. This shows that the bulls are in command. The pair is in the early stage of forming an ascending triangle pattern. Our bullish view will be negated if theETH/USDpair turns down from the current levels and plunges back below $134.50.
Ripple (XRP) has broken out of the 20-day EMA and the 50-day SMA, which is a positive sign. It can now move up to $0.33108. The price has stayed below $0.33108 since Jan. 10 of this year. Hence, a break out of this level signifies bullishness. Traders can enter long positions on a breakout and close (UTC time frame) above $0.33108. The stop loss can be kept at $0.275. The target objective of this trade is $0.40 and higher.
Contrary to our assumption, if theXRP/USDpair turns down from the overhead resistance, it might remain range bound for a few days. The downtrend will resume on a breakdown of critical zone of $0.27795 and $0.24508. The flattening moving averages and the RSI close to 50 point to a consolidation in the near term.
EOShas broken out of the overhead resistance zone of $3.05–$3.2081. Its next target objective is $3.8723 and above it $4.4930. The gradual up-sloping 20-day EMA and the RSI in the overbought zone shows that bulls have the upper hand. Traders who arelongcan protect half of their positions with a tight stop and trail the rest with a stop at $2.50.
We anticipate some resistance at $3.8723 but it is likely to be scaled. The target objective on theEOS/USDpair remains at $4.4930.
Our bullish assumption will be invalidated if the bears reverse direction sharply and push the price back below $3.2081.
After inching higher for the past three days, Litecoin (LTC) finally broke out of the overhead resistance at $47.2460. If the bulls sustain the breakout, the next target is $56.910. The uptrending moving averages and the RSI close to overbought territory shows that the path of least resistance is to the upside.
Nonetheless, if the bulls fail to sustain above $47.2460, the traders can book partial profits on theirlongpositions and raise the stop loss on the rest to $40. A break below this level can result in a fall to $35 and lower. TheLTC/USDpair will turn bearish if it breaks down from the critical support at $27.701.
After staying close to $121 for the past six days, Bitcoin Cash (BCH) has started its journey northwards. It is currently facing some resistance at $141.
However, after breaking out of $141, we expect it to pick up momentum. Therefore, traders can buy on a close (UTC time frame) above $141 and keep the stop loss below the recent lows of $116. The first level to watch on the upside is $163, above which the up move can extend to $175. TheBCH/USDpair might consolidate or correct closer to $175. However, the pair has a history of vertical rallies. If the bulls pierce through $175, it will open the door for a rally to $220.
All our bullish expectations will be negated if the pair turns down from $141. The trend will turn negative if the bears sink the virtual currency below $103.
The bulls are attempting to stabilize TRON (TRX) for the past five days but are facing resistance at the 50-day SMA. The moving averages are on the verge of a bearish crossover, which will indicate weakness. A breakdown of $0.02344160 can drag it to $0.02113440 and below it to $0.01830000.
On the other hand, if theTRX/USDpair scales above both the moving averages, it will face selling at the downtrend line and above it at $0.02815521. The pair will pick up momentum if it sustains above $0.02815521. The targets to watch on the upside are $0.0380 and above it $0.040. Traders who arelongcan keep their stops at $0.0230.
For the past three days, Stellar (XLM) had been attempting to break out of the 20-day EMA. Though unsuccessful, we liked the way it did not give up any ground. A breakout above the 20-day EMA can carry it to the downtrend line and above it to the 50-day SMA. But as the digital currency has not participated in the recent pullback, we will wait for it to form a bullish setup before suggesting a trade in it.
Contrary to our expectation, if theXLM/USDpair fails to scale above the overhead resistances, it will enter into a consolidation. The 20-day EMA has flattened out and RSI is also inching towards the midpoint. This points to a range formation in the short term.
The pair will turn negative if it plummets below the recent low of $0.07256747. Following a breakdown, the next support on the downside is at $0.05795397.
Binance Coin (BNB) has again risen close to the overhead resistance of $10. We anticipate strong selling in the $10–$12 zone. From mid-August to mid-November, it had struggled to break out of this range on two occasions.
Still, if the price sustains above $10, it will signal strength. A consolidation between $10 to $12 will be bullish for theBNB/USDpair because a breakout can push it to $15 and above it to $18.
Conversely, if the pair turns down from the current levels and breaks below the 20-day EMA, it can slide to the 50-day SMA, which is a critical support. We do not find any reliable buy setup with a good risk to reward ratio, hence, we are not suggesting any fresh long positions in it.
Bitcoin SV has broken out of the 20-day EMA. This had been a major roadblock since Jan. 3 and the price had repeatedly turned down from it.
TheBSV/USDpair is currently facing resistance at $71.412 and the 50-day SMA. Traders can initiate a long position on a close (UTC time frame) above the 50-day SMA, with a target objective of $102.580.
The failure of the bears to capitalize on the weakness and sink the price below $57 shows demand at lower levels. Our bullish view will be invalidated if the pair turns down from current levels and breaks down of $57. If that happens, a drop to $38.528 is probable.
Market data is provided by theHitBTCexchange. Charts for analysis are provided byTradingView.
• Bitcoin, Ethereum, Ripple, Litecoin, EOS, Bitcoin Cash, TRON, Stellar, Binance Coin, Bitcoin SV: Price Analysis, February 15
• Bitcoin, Ethereum, Ripple, EOS, Litecoin, Bitcoin Cash, Tron, Stellar, Binance Coin, Bitcoin SV: Price Analysis, Feb. 13
• Bitcoin, Ethereum, Ripple, Litecoin, EOS, Bitcoin Cash, TRON, Stellar, Binance Coin, Bitcoin SV: Price Analysis, Feb. 11
• Bitcoin, Ripple, Ethereum, Litecoin, EOS, Bitcoin Cash, Tron, Stellar, Binance Coin, Bitcoin SV: Price Analysis, Feb. 8 || Germany Explores Blockchain Strategy as Bitcoin Wars Heat Up: Germany ― Europe’s largest economy ― may be hopping on the bitcoin bandwagon as it explores how to deploy blockchain across various industries. The German government has launched a consultation process in a bid to formulate a comprehensive blockchain strategy before the summer begins.
Berlin is a tech hub that’s home to 170 startups that could use blockchain, the technology underpinning bitcoin. Government sources toldReutersthat industry groups and companies have been invited to offer their recommendations for incorporating blockchain to bolster the German economy.
Sources say there is keen interest from tech investors and market participants from a wide range of industries, including the auto industry, the energy sector, and pharmaceutical companies.
While there is no formal crypto-centric regulatory framework in Germany, interest in crypto investing has spiked, especially among young adults.
Read the full story onCCN.com. || Germany Explores Blockchain Strategy as Bitcoin Wars Heat Up: Germany ― Europe’s largest economy ― may be hopping on the bitcoin bandwagon as it explores how to deploy blockchain across various industries. The German government has launched a consultation process in a bid to formulate a comprehensive blockchain strategy before the summer begins.
Berlin is a tech hub that’s home to 170 startups that could use blockchain, the technology underpinning bitcoin. Government sources toldReutersthat industry groups and companies have been invited to offer their recommendations for incorporating blockchain to bolster the German economy.
Sources say there is keen interest from tech investors and market participants from a wide range of industries, including the auto industry, the energy sector, and pharmaceutical companies.
While there is no formal crypto-centric regulatory framework in Germany, interest in crypto investing has spiked, especially among young adults.
Read the full story onCCN.com. || Germany Explores Blockchain Strategy as Bitcoin Wars Heat Up: Germany, blockchain, bitcoin Germany ― Europe’s largest economy ― may be hopping on the bitcoin bandwagon as it explores how to deploy blockchain across various industries. The German government has launched a consultation process in a bid to formulate a comprehensive blockchain strategy before the summer begins. Berlin is a tech hub that’s home to 170 startups that could use blockchain, the technology underpinning bitcoin. Government sources told Reuters that industry groups and companies have been invited to offer their recommendations for incorporating blockchain to bolster the German economy. Sources say there is keen interest from tech investors and market participants from a wide range of industries, including the auto industry, the energy sector, and pharmaceutical companies. 28% of Young Germans Are Bitcoin-Curious While there is no formal crypto-centric regulatory framework in Germany, interest in crypto investing has spiked, especially among young adults. Read the full story on CCN.com . || Op Ed: Why It’s Unsafe to Store Private Crypto Keys in the Cloud: There are two primary reasons why storing your private crypto keys in the cloud is a bad idea. First, your cloud provider represents a centralized honeypot that could experience a security breach, allowing cyber criminals to access your data. For example, in August 2018, a fourthman was jailedin the U.S. for hacking into private Apple iCloud accounts and leaking nude photos of Jennifer Lawrence, Kirsten Dunst, Mary Elizabeth Winstead and others. So it does happen. And it will probably happen again in the future.
The second and more likely threat is the threat of usersfalling for a phishing scam. Phishing is a social engineering technique used by cyber criminals to trick people into handing their personal credentials over to a counterfeit website that is designed to look like the legitimate one.
Adrian uses a Mac computer and an iPhone for work and personal use. He uses iCloud for file storage. He’s a pretty careful kind of guy — he likes to make sure all of his files are backed up regularly in the Cloud and synchronized across his computer and mobile device. iCloud is safe — it has state-of-the art security — and it is owned and maintained by Apple. This means that Adrian’s data in the Cloud is likely to be safer than on his mobile device. After all, he could lose his mobile at any time or drop it into water.
Adrian likes to trade crypto. He’s a customer of a crypto company called Coinbase. He prefers Coinbase over other similar solutions because their service is easy to use — they cater to mainstream customers. Like everyone else, Adrian loves convenience. So, while he cares about security, he cares more about convenience .
If you prefer security over convenience, please disregard how you feel right now and take my word for it when I say that you are in the minority. Adrian is in the majority.
On February 12, 2019, Coinbase announced that customers like Adrian can now “back up their encrypted private keys on Google Drive and iCloud with Coinbase Wallet.”
Coinbase is telling customers that:
Starting today, you can now backup an encrypted version of your Coinbase Wallet’s private keys to your personal cloud storage accounts, using either Google Drive or iCloud.
This new feature provides a safeguard for users, helping them avoid losing their funds if they lose their device or misplace their private keys.
Adrian is a busy guy, so he doesn’t have time to finish reading Coinbase’s Medium post. And he generally likes to skim. Here are the basics what Adrian took away from reading the post:
You can now backup your Coinbase Wallet’s private keys to your personal cloud storage accounts, using either Google Drive or iCloud.
See the difference? Of course you did. You always pay attention when you read an article. And you were half-expecting me to prove a point. I’m almost certain that some people will actually need to reread both paragraphs to spot the difference.
Adrian now goes on to store his unencrypted private keys to hispersonal iCloud account.He overlooked the most important part of Coinbase’s message —you can now backup anENCRYPTEDversion of your Coinbase Wallet’s private keys.
One Sunday afternoon, Adrian gets an email from Apple, offering him a special deal on a new iPhone. It’s well-designed as you would expect from Apple, and there are no spelling mistakes or grammatical errors. Most people who have gone through anti-phishing awareness training would fall for this scam.
So why would Adrian question it? OK, he did question it. He checked the email to make sure it’s actually from Apple.
Great. Adrian has now confirmed that the email is really from Apple.
When he opens the link Adrian is asked to sign into his account to confirm he is eligible for the special offer. So, he signs into the website. Or at least he tries. After entering his credentials he’s redirected to an error page. He gives up and doesn’t think anything of it — he can’t be bothered to check.
Adrian has just fallen for a phishing scam. His personal credentials to iTunes are compromised. Adrian is no different from most people: He uses the same username and password for his iCloud account because it’s convenient and it’s easy for him to remember. How can anyone expect him to remember 134 different passwords?
Vlad is a cyber criminal and he’s the one who sent Adrian the spear-phishing email. He now has access to Adrian’s private key. And the rest of the story, as they say, is history. It’s history being repeated. There’s more to this social engineering tactic but it’s still rather easy for Vlad to gather all of the other information that he needs to finish his heist.
I have advised dozens of executives, including founders of crypto companies over the past two years. When advising them on cybersecurity best practices I learned that no matter how well informed a person is, in regards to cybersecurity, they can easily fall for a sophisticated phishing scam.
Even I couldn’t tell that the Apple lookalike email above was a fake until I investigated further. I’m not the average consumer — so what hope do they have? Most people will not investigate to make sure this is a legitimate email. They will open the link, sign into what they think is an Apple website and BOOM — their credentials are stolen.
$1.8 million - the average cost of a phishing attack on a mid-size company in the U.S.
6.4 billion - number of spoofed messages sent every day
30% - the percentage of phishing emails that are opened by employees
136% - the increase in exposed losses between 2016 and 2018
Source: An Osterman Research white paper published August 8, 2018
What else does Adrian store on iCloud? Everything!
I personally don’t recommend storing anything that is as sensitive as your private keys in the Cloud, even if they are encrypted. But I wouldn’t call out a person for doing it. It’s probably safe — for them.
It’s not OK, however, for a prominent company such as Coinbase, to make such a recommendation to customers. I was extremely surprised by their decision to promote this level of convenience over security.
I would like to strongly urge Coinbase to reverse their recommendation. Can they be blamed if Adrian decides to storeunencryptedkeys in iCloud even though it was recommended that he store hisencryptedkeys? Some would say yes, it’s irresponsible. I received messages across Telegram, Twitter and email from our community members who were exasperated by the recommendation.
Given that people tend to exaggerate or extend what they have been told, it’s very likely that some customers will now extend the advice given to them by Coinbase. In that context, Megan asks Adrian for some advice on how to store her passwords. Adrian recalls Coinbase advising iCloud as a secure place for private keys, so it must be safe for passwords. So he advises Megan to save her usernames and passwords in her iCloud account.
Unless cybersecurity becomes part of the fabric of blockchain and crypto with stakeholders taking it more seriously, it will take much longer for this amazing technology and currency to get the mass adoption that it deserves.
This is a guest post by Paul Walsh. Opinions expressed are his own and do not necessarily reflect those of Bitcoin Magazine or BTC Inc.
This article originally appeared onBitcoin Magazine. || Op Ed: Why It’s Unsafe to Store Private Crypto Keys in the Cloud: Op Ed: Why It’s Unsafe to Store Private Crypto Keys in the Cloud There are two primary reasons why storing your private crypto keys in the cloud is a bad idea. First, your cloud provider represents a centralized honeypot that could experience a security breach, allowing cyber criminals to access your data. For example, in August 2018, a fourth man was jailed in the U.S. for hacking into private Apple iCloud accounts and leaking nude photos of Jennifer Lawrence, Kirsten Dunst, Mary Elizabeth Winstead and others. So it does happen. And it will probably happen again in the future. The second and more likely threat is the threat of users falling for a phishing scam . Phishing is a social engineering technique used by cyber criminals to trick people into handing their personal credentials over to a counterfeit website that is designed to look like the legitimate one. Meet "Adrian" Adrian uses a Mac computer and an iPhone for work and personal use. He uses iCloud for file storage. He’s a pretty careful kind of guy — he likes to make sure all of his files are backed up regularly in the Cloud and synchronized across his computer and mobile device. iCloud is safe — it has state-of-the art security — and it is owned and maintained by Apple. This means that Adrian’s data in the Cloud is likely to be safer than on his mobile device. After all, he could lose his mobile at any time or drop it into water. Adrian likes to trade crypto. He’s a customer of a crypto company called Coinbase. He prefers Coinbase over other similar solutions because their service is easy to use — they cater to mainstream customers. Like everyone else, Adrian loves convenience. So, while he cares about security, he cares more about convenience . If you prefer security over convenience, please disregard how you feel right now and take my word for it when I say that you are in the minority. Adrian is in the majority. On February 12, 2019, Coinbase announced that customers like Adrian can now “ back up their encrypted private keys on Google Drive and iCloud with Coinbase Wallet .” Coinbase is telling customers that: Starting today, you can now backup an encrypted version of your Coinbase Wallet’s private keys to your personal cloud storage accounts, using either Google Drive or iCloud. This new feature provides a safeguard for users, helping them avoid losing their funds if they lose their device or misplace their private keys. Adrian is a busy guy, so he doesn’t have time to finish reading Coinbase’s Medium post. And he generally likes to skim. Here are the basics what Adrian took away from reading the post: You can now backup your Coinbase Wallet’s private keys to your personal cloud storage accounts, using either Google Drive or iCloud. Story continues See the difference? Of course you did. You always pay attention when you read an article. And you were half-expecting me to prove a point. I’m almost certain that some people will actually need to reread both paragraphs to spot the difference. Adrian now goes on to store his unencrypted private keys to his personal iCloud account. He overlooked the most important part of Coinbase’s message — you can now backup an ENCRYPTED version of your Coinbase Wallet’s private keys. Screen Shot 2019-02-13 at 9.01.36 AM.png Over 90 Percent of All Data Breaches Start With Phishing Screen Shot 2019-02-18 at 11.11.17 AM.png One Sunday afternoon, Adrian gets an email from Apple, offering him a special deal on a new iPhone. It’s well-designed as you would expect from Apple, and there are no spelling mistakes or grammatical errors. Most people who have gone through anti-phishing awareness training would fall for this scam. So why would Adrian question it? OK, he did question it. He checked the email to make sure it’s actually from Apple. Screen Shot 2019-02-13 at 9.10.34 AM.png Great. Adrian has now confirmed that the email is really from Apple. When he opens the link Adrian is asked to sign into his account to confirm he is eligible for the special offer. So, he signs into the website. Or at least he tries. After entering his credentials he’s redirected to an error page. He gives up and doesn’t think anything of it — he can’t be bothered to check. Adrian has just fallen for a phishing scam. His personal credentials to iTunes are compromised. Adrian is no different from most people: He uses the same username and password for his iCloud account because it’s convenient and it’s easy for him to remember. How can anyone expect him to remember 134 different passwords? Meet "Vlad" Vlad is a cyber criminal and he’s the one who sent Adrian the spear-phishing email. He now has access to Adrian’s private key. And the rest of the story, as they say, is history. It’s history being repeated. There’s more to this social engineering tactic but it’s still rather easy for Vlad to gather all of the other information that he needs to finish his heist. I have advised dozens of executives, including founders of crypto companies over the past two years. When advising them on cybersecurity best practices I learned that no matter how well informed a person is, in regards to cybersecurity, they can easily fall for a sophisticated phishing scam. Even I couldn’t tell that the Apple lookalike email above was a fake until I investigated further. I’m not the average consumer — so what hope do they have? Most people will not investigate to make sure this is a legitimate email. They will open the link, sign into what they think is an Apple website and BOOM — their credentials are stolen. $1.8 million - the average cost of a phishing attack on a mid-size company in the U.S. 6.4 billion - number of spoofed messages sent every day 30% - the percentage of phishing emails that are opened by employees 136% - the increase in exposed losses between 2016 and 2018 Source: An Osterman Research white paper published August 8, 2018 What else does Adrian store on iCloud? Everything! I personally don’t recommend storing anything that is as sensitive as your private keys in the Cloud, even if they are encrypted. But I wouldn’t call out a person for doing it. It’s probably safe — for them. It’s not OK, however, for a prominent company such as Coinbase, to make such a recommendation to customers. I was extremely surprised by their decision to promote this level of convenience over security. I would like to strongly urge Coinbase to reverse their recommendation. Can they be blamed if Adrian decides to store unencrypted keys in iCloud even though it was recommended that he store his encrypted keys? Some would say yes, it’s irresponsible. I received messages across Telegram, Twitter and email from our community members who were exasperated by the recommendation. The Ripple Effect Given that people tend to exaggerate or extend what they have been told, it’s very likely that some customers will now extend the advice given to them by Coinbase. In that context, Megan asks Adrian for some advice on how to store her passwords. Adrian recalls Coinbase advising iCloud as a secure place for private keys, so it must be safe for passwords. So he advises Megan to save her usernames and passwords in her iCloud account. Unless cybersecurity becomes part of the fabric of blockchain and crypto with stakeholders taking it more seriously, it will take much longer for this amazing technology and currency to get the mass adoption that it deserves. This is a guest post by Paul Walsh. Opinions expressed are his own and do not necessarily reflect those of Bitcoin Magazine or BTC Inc. This article originally appeared on Bitcoin Magazine . View comments
[Social Media Buzz]
Bitcoin - BTC
Price: $3,957.96
Change in 1h: -0.09%
Market cap: $69,452,846,691.00
Ranking: 1
#Bitcoin #BTC || 10 Hottest Stocks at Tue, 19 Feb 2019 09:00:14 EST : BTC, ETH, USD, EOS, SPY, ETC, MRNJ, http://dlvr.it/QzDKL7 || ビットコインが50万円を超えると加速する。 https://t.co/QuFWobv6qK || $ADA may go up
BINANCE
TRADINGVIEW: http://bit.ly/2MCwkG5
BITTREX
TRADINGVIEW: http://bit.ly/2uO7f74
Price: 0.00001213 BTC
1H: 0.01%
24H: 6.00%
7D: 7.39%
24H Vol: $44,151,238
This is not an investment advice. #DY...
|
3999.82, 3954.12, 4005.53, 4142.53, 3810.43, 3882.70, 3854.36, 3851.05, 3854.79, 3859.58
|
Given the historical Bitcoin prices from the last 90 days, predict the next 10 daily closing prices. The historical prices are: 16477.60, 15170.10, 14595.40, 14973.30, 13405.80, 13980.60, 14360.20, 13772.00, 13819.80, 11490.50, 11188.60, 11474.90, 11607.40, 12899.20, 11600.10, 10931.40, 10868.40, 11359.40, 11259.40, 11171.40, 11440.70, 11786.30, 11296.40, 10106.30, 10221.10, 9170.54, 8830.75, 9174.91, 8277.01, 6955.27, 7754.00, 7621.30, 8265.59, 8736.98, 8621.90, 8129.97, 8926.57, 8598.31, 9494.63, 10166.40, 10233.90, 11112.70, 10551.80, 11225.30, 11403.70, 10690.40, 10005.00, 10301.10, 9813.07, 9664.73, 10366.70, 10725.60, 10397.90, 10951.00, 11086.40, 11489.70, 11512.60, 11573.30, 10779.90, 9965.57, 9395.01, 9337.55, 8866.00, 9578.63, 9205.12, 9194.85, 8269.81, 8300.86, 8338.35, 7916.88, 8223.68, 8630.65, 8913.47, 8929.28, 8728.47, 8879.62, 8668.12, 8495.78, 8209.40, 7833.04, 7954.48, 7165.70, 6890.52, 6973.53, 6844.23, 7083.80, 7456.11, 6853.84, 6811.47, 6636.32.
|
[Bitcoin Technical Analysis for 2018-04-06]
Volume: 3766810112, RSI (14-day): 32.62, 50-day EMA: 8750.52, 200-day EMA: 8927.95
[Wider Market Context]
Gold Price: 1331.90, Gold RSI: 51.42
Oil Price: 62.06, Oil RSI: 44.82
[Recent News (last 7 days)]
One Chart Mindbody's Investors Need to Understand: Mindbody(NASDAQ: MB)finished up 2017 with many of its key metricsheading in the right direction. Revenue was up 30% and its adjusted earnings came into the positive territory up from a loss the previous year. But this cloud software company, whose platform helps wellness providers run their businesses, lost 3% of its customers year-over-year. One chart in the company's investor overview presentation provides key insights into what's happening. Read on for the details on this chart, what's going on, and why management is actually glad it's losing some of its customers.
The chart below represents key drivers of Mindbody's revenue streams: customers and bookings. The customers are divided into two categories: high-value subscribers and solo subscribers. High-value subscribers (orange bar) are Mindbody customers that generate the most revenue for the company through subscription fees, payments volume, and other services. Solo subscribers (red bar) represent the number of single practitioner customers using the Mindbody platform. An example of a solo practitioner could be an independent massage therapist working out of his or her home.
Image source: Mindbody'sinvestor overview
The green line shows the total number of bookings by Mindbody's clients on the platform. These could be a Yoga class, a hair salon appointment, or session with a chiropractor. When Mindbody's customers are making bookings, it is likely a revenue-generating event and Mindbody gets a small share in a payment fee.
Each of these components are showing positive growth trends until 2017 where the solo practitioners takes a big drop off. Turns out, this is exactly what management wanted to happen.
Solo subscribers have been a part of Mindbody's customer set for years and a driver of growth, but the gross margins and revenue for these customers aren't ideal. Comparing the averagemonthly revenue per subscriber, the high-value subscriber in the company'starget marketsproduce 370% more revenue than solo practitioners. What's more, the cost of onboarding and supporting a solo practitioner make the profitability of this customer set undesirable.
At the end of 2016, management decided to phase out solo subscribers and stopped selling new subscriptions as of January 1, 2017. It also raised the price of installed solo practitioners from $45 per month to $55 per month. With the high churn rate of this customer segment and no new solo practitioners being added, this category of customers dropped 54% in 2017. When these subscribers have to renew in 2018, their former plan will no longer be available and will be forced to upgrade or drop the service all together. Management expects the number of customers in the solo category to reach near zero by the end of 2018.
Even though the number of customers decreased in 2017, it didn't significantly impact the company's growth. Overall revenue grew an impressive30% year-over-yearwith subscription and services revenue growing 34%. Bookings grew 24% year-over-year, which was a primary driver of its payments revenue segment growing 25%.
In addition to making these strategic customer changes, the company took the opportunity to update its tiered subscription offerings.
Image source: Getty Images
In last quarter's earnings call, Mindbody's management reduced the number of subscription offerings and increased prices for the entry-level package and the top tier package.
[{"": "Starter", "Previous": "$75 / month", "Current": "Discontinued"}, {"": "Pro", "Previous": "$125 / month", "Current": "Discontinued"}, {"": "Essential", "Previous": "N/A", "Current": "$125 / month"}, {"": "Accelerate", "Previous": "$195 / month", "Current": "$195 / month"}, {"": "Ultimate", "Previous": "$290 / month", "Current": "$395 / month"}]
Chart by the author. Data source Mindbody'sinvestor overview.
This simplification of the company's offerings aligns with software changes that provide more value for its customers. On the low end, the entry-level package is a more robust and feature rich package. On the high end, Richard Stollmeyer, CEO, explained that "we raised the price of Ultimate just because branded mobile app has become a richer and more valuable add-on in the past couple of years." Additionally, the CEO indicated that these pricing increases had "no real impact on the attrition rates of high-value subscribers."
Warren Buffet would like this move. He always likes businesses withpricing power, ones that could raise prices without losing customers. Mindbody's customers have benefited from the continued software improvements to its platform. Two examples includedynamic pricingwhich enables its customers to optimize booking revenue and the company's acquisition of Fitmetrix which enables fitness studios to integrate performance tracking into its classes and with specific workout equipment.
Even with losing the solo subscriber segment, the company is expecting to grow revenue in 2018 between 26% and 29%. Furthermore, non-GAAP net income will improve this year to between $9 million and $13 million, up from $0.7 million in 2017. Understanding Mindbody's strategic focus to keep the right high-value customers will help investors realize that sometimes, losing customers is a good thing.
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Brian Withersowns shares of Mindbody. The Motley Fool recommends Mindbody. The Motley Fool has adisclosure policy. || One Chart Mindbody's Investors Need to Understand: Mindbody (NASDAQ: MB) finished up 2017 with many of its key metrics heading in the right direction . Revenue was up 30% and its adjusted earnings came into the positive territory up from a loss the previous year. But this cloud software company, whose platform helps wellness providers run their businesses, lost 3% of its customers year-over-year. One chart in the company's investor overview presentation provides key insights into what's happening. Read on for the details on this chart, what's going on, and why management is actually glad it's losing some of its customers. The chart explained The chart below represents key drivers of Mindbody's revenue streams: customers and bookings. The customers are divided into two categories: high-value subscribers and solo subscribers. High-value subscribers (orange bar) are Mindbody customers that generate the most revenue for the company through subscription fees, payments volume, and other services. Solo subscribers (red bar) represent the number of single practitioner customers using the Mindbody platform. An example of a solo practitioner could be an independent massage therapist working out of his or her home. Chart showing Mindbody's customer and bookings growth for last six years. All years show growth from previous year except 2017 where solo subscribers dropped off significantly dragging total number of customers to a year-over-year decline 2016 to 2017. Image source: Mindbody's investor overview The green line shows the total number of bookings by Mindbody's clients on the platform. These could be a Yoga class, a hair salon appointment, or session with a chiropractor. When Mindbody's customers are making bookings, it is likely a revenue-generating event and Mindbody gets a small share in a payment fee. Each of these components are showing positive growth trends until 2017 where the solo practitioners takes a big drop off. Turns out, this is exactly what management wanted to happen. What's going on? Solo subscribers have been a part of Mindbody's customer set for years and a driver of growth, but the gross margins and revenue for these customers aren't ideal. Comparing the average monthly revenue per subscriber , the high-value subscriber in the company's target markets produce 370% more revenue than solo practitioners. What's more, the cost of onboarding and supporting a solo practitioner make the profitability of this customer set undesirable. Story continues At the end of 2016, management decided to phase out solo subscribers and stopped selling new subscriptions as of January 1, 2017. It also raised the price of installed solo practitioners from $45 per month to $55 per month. With the high churn rate of this customer segment and no new solo practitioners being added, this category of customers dropped 54% in 2017. When these subscribers have to renew in 2018, their former plan will no longer be available and will be forced to upgrade or drop the service all together. Management expects the number of customers in the solo category to reach near zero by the end of 2018. Even though the number of customers decreased in 2017, it didn't significantly impact the company's growth. Overall revenue grew an impressive 30% year-over-year with subscription and services revenue growing 34%. Bookings grew 24% year-over-year, which was a primary driver of its payments revenue segment growing 25%. In addition to making these strategic customer changes, the company took the opportunity to update its tiered subscription offerings. People in a yoga class stretching in a brightly lit room. Image source: Getty Images Less choice, but more value In last quarter's earnings call, Mindbody's management reduced the number of subscription offerings and increased prices for the entry-level package and the top tier package. Previous Current Starter $75 / month Discontinued Pro $125 / month Discontinued Essential N/A $125 / month Accelerate $195 / month $195 / month Ultimate $290 / month $395 / month Chart by the author. Data source Mindbody's investor overview. This simplification of the company's offerings aligns with software changes that provide more value for its customers. On the low end, the entry-level package is a more robust and feature rich package. On the high end, Richard Stollmeyer, CEO, explained that "we raised the price of Ultimate just because branded mobile app has become a richer and more valuable add-on in the past couple of years." Additionally, the CEO indicated that these pricing increases had "no real impact on the attrition rates of high-value subscribers." Warren Buffet would like this move. He always likes businesses with pricing power , ones that could raise prices without losing customers. Mindbody's customers have benefited from the continued software improvements to its platform. Two examples include dynamic pricing which enables its customers to optimize booking revenue and the company's acquisition of Fitmetrix which enables fitness studios to integrate performance tracking into its classes and with specific workout equipment. Even with losing the solo subscriber segment, the company is expecting to grow revenue in 2018 between 26% and 29%. Furthermore, non-GAAP net income will improve this year to between $9 million and $13 million, up from $0.7 million in 2017. Understanding Mindbody's strategic focus to keep the right high-value customers will help investors realize that sometimes, losing customers is a good thing. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Brian Withers owns shares of Mindbody. The Motley Fool recommends Mindbody. The Motley Fool has a disclosure policy . || 3 Apple Inc. Suppliers Set to Lose Significant Business: Being anApple(NASDAQ: AAPL)supplier can be something of a double-edged sword. Since Apple is hugely successful in the markets in which it participates, winning Apple orders can be anything from a solid revenue boost (typically the case for already large and successful suppliers) to a fundamental game-changer (the case for small suppliers that hit it big with Apple).
Unfortunately, since Apple plays hardball with suppliers, and since Apple is known for aggressively bringing technologies in-house, revenue from Apple generally isn't as "sticky" as revenue from other, less powerful customers.
Image source: Apple.
To that end, I'd like to go over three Apple suppliers that are at risk of losing significant Apple business in the years ahead:Intel(NASDAQ: INTC),Qualcomm(NASDAQ: QCOM), andDialog Semiconductor(NASDAQOTH: DLGNF).
On April 2,Bloombergreportedthat Apple management had green-lit an initiative, known as Kalamata, to replace Intel-based processors inside of Apple's Mac computers with Apple-designed processors.
The shift is expected to begin in the 2020 time frame at the earliest, so Intel is unlikely to see the impact from this transition for at least a few more years. However, when all is said and done, Intel stands to losearound $3 billion in annual revenuewhen and if Apple transitions entirely away from Intel processors in its Mac products.
Considering that Intel generated $62.8 billion in revenue during 2017 and is expected to generate even more than that in 2018, the loss of Apple isn't going to crush Intel's financial performance, but it'll certainly sting.
For years, Apple relied on Qualcomm as the exclusive supplier of cellular modems in its iPhone and iPad product lines. Beginning in 2016, Apple shifted a significant portion of its cellular modem orders away from Qualcomm and toward Intel.
Although Apple split its cellular modem orders between Qualcomm and Intel during the iPhone 7 product cycle as well as the current iPhone 8/iPhone X product cycle, KGI Securities analyst Ming-Chi Kuo -- an analyst with a strong track record in publishing information about future Apple products --believesQualcomm will be entirely cut out of the iPhone models that'll launch later this year, with Intel winning the entirety of the orders.
Just as is the case with Intel potentially losing the Mac, Qualcomm losing the remainder of the iPhone modem business isn't likely to prove a crippling blow to Qualcomm, but it too will sting.
Another chip maker that's potentially on the chopping block is Dialog Semiconductor. Dialog Semiconductor produces power management chips that go into Apple's iPhones and other products. Such chips impact the power efficiency of a mobile device.
Nikkei Asian Reviewreporteda while back that Apple is designing its own power management chip in a bid to supplant the chips currently made by Dialog Semiconductor. There are also some pretty clear hints directly from Apple that it is indeedworking on such a chip.
Dialog Semiconductor has said that it expects to continue supplying power management chips to Apple through 2020 (viaReuters), so a significant revenue decline isn't imminent for the company. However, it does seem inevitable that Apple will cut Dialog out in favor of an in-house solution.
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Ashraf Eassaowns shares of Intel and Qualcomm. The Motley Fool owns shares of and recommends Apple. The Motley Fool owns shares of Qualcomm and has the following options: long January 2020 $150 calls on Apple and short January 2020 $155 calls on Apple. The Motley Fool recommends Intel. The Motley Fool has adisclosure policy. || 3 Apple Inc. Suppliers Set to Lose Significant Business: Being an Apple (NASDAQ: AAPL) supplier can be something of a double-edged sword. Since Apple is hugely successful in the markets in which it participates, winning Apple orders can be anything from a solid revenue boost (typically the case for already large and successful suppliers) to a fundamental game-changer (the case for small suppliers that hit it big with Apple). Unfortunately, since Apple plays hardball with suppliers, and since Apple is known for aggressively bringing technologies in-house, revenue from Apple generally isn't as "sticky" as revenue from other, less powerful customers. Apple executive Phil Schiller standing in front of an image of the iPhone 8 and iPhone 8 Plus. Image source: Apple. To that end, I'd like to go over three Apple suppliers that are at risk of losing significant Apple business in the years ahead: Intel (NASDAQ: INTC) , Qualcomm (NASDAQ: QCOM) , and Dialog Semiconductor (NASDAQOTH: DLGNF) . 1. Intel On April 2, Bloomberg reported that Apple management had green-lit an initiative, known as Kalamata, to replace Intel-based processors inside of Apple's Mac computers with Apple-designed processors. The shift is expected to begin in the 2020 time frame at the earliest, so Intel is unlikely to see the impact from this transition for at least a few more years. However, when all is said and done, Intel stands to lose around $3 billion in annual revenue when and if Apple transitions entirely away from Intel processors in its Mac products. Considering that Intel generated $62.8 billion in revenue during 2017 and is expected to generate even more than that in 2018, the loss of Apple isn't going to crush Intel's financial performance, but it'll certainly sting. 2. Qualcomm For years, Apple relied on Qualcomm as the exclusive supplier of cellular modems in its iPhone and iPad product lines. Beginning in 2016, Apple shifted a significant portion of its cellular modem orders away from Qualcomm and toward Intel. Although Apple split its cellular modem orders between Qualcomm and Intel during the iPhone 7 product cycle as well as the current iPhone 8/iPhone X product cycle, KGI Securities analyst Ming-Chi Kuo -- an analyst with a strong track record in publishing information about future Apple products -- believes Qualcomm will be entirely cut out of the iPhone models that'll launch later this year, with Intel winning the entirety of the orders. Story continues Just as is the case with Intel potentially losing the Mac, Qualcomm losing the remainder of the iPhone modem business isn't likely to prove a crippling blow to Qualcomm, but it too will sting. 3. Dialog Semiconductor Another chip maker that's potentially on the chopping block is Dialog Semiconductor. Dialog Semiconductor produces power management chips that go into Apple's iPhones and other products. Such chips impact the power efficiency of a mobile device. Nikkei Asian Review reported a while back that Apple is designing its own power management chip in a bid to supplant the chips currently made by Dialog Semiconductor. There are also some pretty clear hints directly from Apple that it is indeed working on such a chip . Dialog Semiconductor has said that it expects to continue supplying power management chips to Apple through 2020 (via Reuters ), so a significant revenue decline isn't imminent for the company. However, it does seem inevitable that Apple will cut Dialog out in favor of an in-house solution. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Ashraf Eassa owns shares of Intel and Qualcomm. The Motley Fool owns shares of and recommends Apple. The Motley Fool owns shares of Qualcomm and has the following options: long January 2020 $150 calls on Apple and short January 2020 $155 calls on Apple. The Motley Fool recommends Intel. The Motley Fool has a disclosure policy . || Target and Kroger Aren't Merging, But Maybe They Should: A merger betweenKroger(NYSE: KR)andTarget(NYSE: TGT)might not be happening, but that doesn't mean it shouldn't. There are some very compelling reasons why the largest pure-play grocery chain and the leading mass merchandiser should consider joining forces.
Tech-oriented publicationFast Companygot tongues wagging when it reported that sources confided the two retailers had been in negotiations since last summer about a tie-up, though they're apparently conflicted about whether a merger was the best route for both. The rumor, however, was quickly squashed when an equally anonymous source said the story was untrue.
But what might not happen today, could still occur tomorrow, and when it comes to Kroger and Target, this is a deal worth considering.
Image source: Kroger.
The purchase of Whole Foods Market byAmazon.com(NASDAQ: AMZN)has lit a fire under the feet of supermarket chains, which suddenly saw a clear threat to their business. Although the organic grocer has just 450 stores, putting the financial prowess and retail expertise of the e-commerce king behind it revealed to every grocery store chain that they had holes in their business plans.
Since the acquisition, supermarkets have been busy shoring up their operations with deals and acquisitions of their own. Delivery suddenly became a preeminent concern of the chains. Albertsons, for example, which had begun ramping up investments in its digital capabilities, subsequently signed on Instacart to offer same-day delivery of groceries in as little as an hour. It also bought meal kit delivery service Plated and just announced it was going to belaunching an online platformfor third-party consumer products retailers to sell their goods.
Kroger, which also began piloting a test with Instacart,entered discussionswith Amazon rivalAlibaba, which has been looking to expand its offerings in the U.S. The supermarket giant reportedly wants to similarly expand in China, and a tie-up with the Chinese e-commerce giant was also rumored.
Other chains that struck deals or expanded their existing arrangements with Instacart to give themselves a digital and delivery presence include Ahold Delhaize,Costco, Publix, andWalmart. Walmart's Sam's Club warehouse club is testing the service in several markets before rolling it out further, and possibly presaging a future venture with Walmart itself.
Target ended up buying Shipt for $550 million, a delivery service that Kroger had once considered buying. Kroger also tried to buy online wholesaler Boxed, but was rejected after its founder wanted to be acquired by Amazon instead.
Image source: Target.
So what would make a Kroger-Target merger special? Joining their respective businesses together would fill areas where their existing operations are lacking. For example, although Target already sells groceries that account for 20% of its $72 billion in annual sales, Kroger sells more than 10 times as much as Target and it's perceived as being of higher quality.
In contrast, Kroger has just begun expressing a desire to add goods and products that fall outside of produce and canned goods, such asclothing and hardware items, while those items comprise almost 40% of Target's revenues.
Joining their businesses together would create a single entity with $195 billion in annual sales. They would have some 4,600 stores nationwide, and that would make it difficult for Whole Foods Market to match. It would also stop Amazon from acquiring Target and opening Whole Foods stores inside the retailer, or otherwise steal market share from them. Kroger has more to lose in this regard than anyone.
Of course, an acquisition might not work out as intended.Fast Companynoted it was estimated that 70% of consumers will shop online for groceries within the next five to seven years, with spending hitting as much as $100 billion as early as 2022. That's a large market for both Kroger and Target to tap into, but nothing about their operations to date other than hurrying to play catch-up suggests they'll steal a significant portion of that spending.
Kroger has spent more time shoring up perceived deficiencies in its brick-and-mortar presence, with acquisitions of Harris Teeter, Roundy's, a bunch of Farm Fresh stores fromSupervalu, and 11 bankrupt Marsh Supermarkets.
Still, together, even if it didn't thwart Amazon, it would allow them both to better challenge Walmart, which owns 26% of the $800 billion U.S. grocery market. Together, they would have a near-12% share, the second largest (Kroger already has an 11% share). It might also give them the strength to take on deep discounters like Aldi and Lidl, both of which are aggressively expanding in the U.S.
Kroger and Target may not be merging, or even talking about it anymore, but that doesn't mean they shouldn't pick up the phone and begin negotiating.
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John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors.Rich Dupreyhas no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Amazon. The Motley Fool recommends Costco Wholesale. The Motley Fool has adisclosure policy. || Target and Kroger Aren't Merging, But Maybe They Should: A merger between Kroger (NYSE: KR) and Target (NYSE: TGT) might not be happening, but that doesn't mean it shouldn't. There are some very compelling reasons why the largest pure-play grocery chain and the leading mass merchandiser should consider joining forces. Tech-oriented publication Fast Company got tongues wagging when it reported that sources confided the two retailers had been in negotiations since last summer about a tie-up, though they're apparently conflicted about whether a merger was the best route for both. The rumor, however, was quickly squashed when an equally anonymous source said the story was untrue. But what might not happen today, could still occur tomorrow, and when it comes to Kroger and Target, this is a deal worth considering. Kroger employee in the produce department holding a head of lettuce. Image source: Kroger. A wake-up call The purchase of Whole Foods Market by Amazon.com (NASDAQ: AMZN) has lit a fire under the feet of supermarket chains, which suddenly saw a clear threat to their business. Although the organic grocer has just 450 stores, putting the financial prowess and retail expertise of the e-commerce king behind it revealed to every grocery store chain that they had holes in their business plans. Since the acquisition, supermarkets have been busy shoring up their operations with deals and acquisitions of their own. Delivery suddenly became a preeminent concern of the chains. Albertsons, for example, which had begun ramping up investments in its digital capabilities, subsequently signed on Instacart to offer same-day delivery of groceries in as little as an hour. It also bought meal kit delivery service Plated and just announced it was going to be launching an online platform for third-party consumer products retailers to sell their goods. Kroger, which also began piloting a test with Instacart, entered discussions with Amazon rival Alibaba , which has been looking to expand its offerings in the U.S. The supermarket giant reportedly wants to similarly expand in China, and a tie-up with the Chinese e-commerce giant was also rumored. Story continues Other chains that struck deals or expanded their existing arrangements with Instacart to give themselves a digital and delivery presence include Ahold Delhaize, Costco , Publix, and Walmart . Walmart's Sam's Club warehouse club is testing the service in several markets before rolling it out further, and possibly presaging a future venture with Walmart itself. Target ended up buying Shipt for $550 million, a delivery service that Kroger had once considered buying. Kroger also tried to buy online wholesaler Boxed, but was rejected after its founder wanted to be acquired by Amazon instead. Four Target employees walking down an aisle in a Target store. Image source: Target. A necessary union So what would make a Kroger-Target merger special? Joining their respective businesses together would fill areas where their existing operations are lacking. For example, although Target already sells groceries that account for 20% of its $72 billion in annual sales, Kroger sells more than 10 times as much as Target and it's perceived as being of higher quality. In contrast, Kroger has just begun expressing a desire to add goods and products that fall outside of produce and canned goods, such as clothing and hardware items , while those items comprise almost 40% of Target's revenues. Joining their businesses together would create a single entity with $195 billion in annual sales. They would have some 4,600 stores nationwide, and that would make it difficult for Whole Foods Market to match. It would also stop Amazon from acquiring Target and opening Whole Foods stores inside the retailer, or otherwise steal market share from them. Kroger has more to lose in this regard than anyone. Plenty could go wrong Of course, an acquisition might not work out as intended. Fast Company noted it was estimated that 70% of consumers will shop online for groceries within the next five to seven years, with spending hitting as much as $100 billion as early as 2022. That's a large market for both Kroger and Target to tap into, but nothing about their operations to date other than hurrying to play catch-up suggests they'll steal a significant portion of that spending. Kroger has spent more time shoring up perceived deficiencies in its brick-and-mortar presence, with acquisitions of Harris Teeter, Roundy's, a bunch of Farm Fresh stores from Supervalu , and 11 bankrupt Marsh Supermarkets. Still, together, even if it didn't thwart Amazon, it would allow them both to better challenge Walmart, which owns 26% of the $800 billion U.S. grocery market. Together, they would have a near-12% share, the second largest (Kroger already has an 11% share). It might also give them the strength to take on deep discounters like Aldi and Lidl, both of which are aggressively expanding in the U.S. Kroger and Target may not be merging, or even talking about it anymore, but that doesn't mean they shouldn't pick up the phone and begin negotiating. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Rich Duprey has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Amazon. The Motley Fool recommends Costco Wholesale. The Motley Fool has a disclosure policy . || Coinbase to Let Users Withdraw Funds from Bitcoin Forks: Cryptocurrency startup Coinbase said Thursday that, in the coming months, it will let customers withdraw funds resulting from forks of the bitcoin network. In a blog post , the startup announced that it was adding withdrawal support for the forks, though the post did not announce a firm timeline. "This change will allow customers to more easily withdraw assets associated with Bitcoin Forks across all Coinbase Products," the startup wrote, adding: A Q2 Price Boost? History Is On Bitcoin's Side "As always, we look at technical, operational, and legal considerations when deciding which Bitcoin Fork assets to support and will always state on our website which particular assets are supported." That being said, Coinbase noted it was "not announcing support for any specific assets at this time." In the announcement, Coinbase explained that it will work to support future bitcoin forks on its Coinbase Custody product, adding that this platform "will likely support more forked assets than GDAX or Coinbase for the foreseeable future." GDAX, its digital assets exchange, will allow customers to withdraw bitcoin forks, but not trade them. Similarly, Coinbase's basic platform will also allow customers to withdraw the forked assets but without enabling trades. Further, the startup noted that an asset may be added to GDAX in the future without being added to Coinbase. Trapped Below $7K: Is Bitcoin Prepping for a Big Breakout? Coinbase Commerce, a merchant-focused service it unveiled in February, will not support any forked assets, and the Coinbase Index Fund will not list any assets that are not available on GDAX for trading, according to the statement. In a separate announcement on Thursday, the startup unveiled a new early-stage venture fund that will provide financing to companies working with the technology. "At least in the beginning, our goal is simply to help the most compelling companies in the space to flourish," Coinbase said. Story continues Coin miniatures image via Shutterstock Related Stories Bank of America: Bitcoin Bubble Is Already Popping Rangebound: Bitcoin Bulls Need Break Above $7.5K || Coinbase to Let Users Withdraw Funds from Bitcoin Forks: Cryptocurrency startup Coinbase said Thursday that, in the coming months, it will let customers withdraw funds resulting from forks of the bitcoin network.
In ablog post, the startup announced that it was adding withdrawal support for the forks, though the post did not announce a firm timeline.
"This change will allow customers to more easily withdraw assets associated with Bitcoin Forks across all Coinbase Products," the startup wrote, adding:
A Q2 Price Boost? History Is On Bitcoin's Side
That being said, Coinbase noted it was "not announcing support for any specific assets at this time."
In the announcement, Coinbase explained that it will work to support future bitcoin forks on its Coinbase Custody product, adding that this platform "will likely support more forked assets than GDAX or Coinbase for the foreseeable future."
GDAX, its digital assets exchange, will allow customers to withdraw bitcoin forks, but not trade them. Similarly, Coinbase's basic platform will also allow customers to withdraw the forked assets but without enabling trades. Further, the startup noted that an asset may be added to GDAX in the future without being added to Coinbase.
Trapped Below $7K: Is Bitcoin Prepping for a Big Breakout?
Coinbase Commerce, a merchant-focused service it unveiled in February, will not support any forked assets, and the Coinbase Index Fund will not list any assets that are not available on GDAX for trading, according to the statement.
Ina separate announcementon Thursday, the startup unveiled a new early-stage venture fund that will provide financing to companies working with the technology.
"At least in the beginning, our goal is simply to help the most compelling companies in the space to flourish," Coinbase said.
Coin miniatures imagevia Shutterstock
• Bank of America: Bitcoin Bubble Is Already Popping
• Rangebound: Bitcoin Bulls Need Break Above $7.5K || Coinbase to Let Users Withdraw Funds from Bitcoin Forks: Cryptocurrency startup Coinbase said Thursday that, in the coming months, it will let customers withdraw funds resulting from forks of the bitcoin network.
In ablog post, the startup announced that it was adding withdrawal support for the forks, though the post did not announce a firm timeline.
"This change will allow customers to more easily withdraw assets associated with Bitcoin Forks across all Coinbase Products," the startup wrote, adding:
A Q2 Price Boost? History Is On Bitcoin's Side
That being said, Coinbase noted it was "not announcing support for any specific assets at this time."
In the announcement, Coinbase explained that it will work to support future bitcoin forks on its Coinbase Custody product, adding that this platform "will likely support more forked assets than GDAX or Coinbase for the foreseeable future."
GDAX, its digital assets exchange, will allow customers to withdraw bitcoin forks, but not trade them. Similarly, Coinbase's basic platform will also allow customers to withdraw the forked assets but without enabling trades. Further, the startup noted that an asset may be added to GDAX in the future without being added to Coinbase.
Trapped Below $7K: Is Bitcoin Prepping for a Big Breakout?
Coinbase Commerce, a merchant-focused service it unveiled in February, will not support any forked assets, and the Coinbase Index Fund will not list any assets that are not available on GDAX for trading, according to the statement.
Ina separate announcementon Thursday, the startup unveiled a new early-stage venture fund that will provide financing to companies working with the technology.
"At least in the beginning, our goal is simply to help the most compelling companies in the space to flourish," Coinbase said.
Coin miniatures imagevia Shutterstock
• Bank of America: Bitcoin Bubble Is Already Popping
• Rangebound: Bitcoin Bulls Need Break Above $7.5K || Sagging Corn Pulls Down Monsanto's Sales: Monsanto (NYSE: MON) has become an agricultural giant, helping farming operations boost productivity through crop-enhancing products and seed traits that have garnered their fair share of controversy over the years. Yet one distracting issue has been the fact that there's still considerable uncertainty about whether the ag company's proposed merger with Bayer will finally move forward. Monsanto appears confident that it will, but shareholders aren't pricing the stock in a manner that shows equal confidence, especially as geopolitical tensions over trade heat up. Coming into Thursday's fiscal second-quarter report, Monsanto investors had wanted to see continued modest growth in sales and profits. Instead, Monsanto's net sales actually declined from year-ago levels and earnings didn't rise as much as investors had been hoping for. Let's look more closely at Monsanto to see how it did and what's ahead. Two farmers in a cornfield with very tall corn plants. Image source: Monsanto. Another bad quarter for corn Monsanto's fiscal second-quarter results continued some of the trends that we've seen in recent quarters . Total sales fell about 1%, to $5.02 billion, which was far worse than the $5.3 billion top-line figure that most investors were hoping to see. Net income was higher by about 7%, to $1.46 billion, but after making allowances for extraordinary items, adjusted earnings of $3.22 per share fell short of the consensus forecast of $3.31 per share among those following the stock. Once again, the seeds and genomics segment was the challenging part of Monsanto's business. Overall sales for the unit were down 2%, led lower by a more than 6% drop in corn seed and traits-related revenue. Gains in soybeans, cotton, vegetable, and other seeds and traits weren't enough to offset the damage done from poor performance in corn. In its commentary, Monsanto said that it continues to expect record levels of its Roundup Ready 2 Xtend soybean product to get planted during the current fiscal year. However, timing delays in corn planting and generally lower expectations for corn planting acreage weighed on that part of the market. Weakness in corn pricing also hurt the segment's popularity, and overall, pre-tax profit was down about 2% from year-ago levels. Story continues Agricultural productivity continued to help Monsanto. Sales were higher by about 5%, with about a 20% gain in pre-tax profit. Pricing for key products was strong, and the company expects to see ongoing demand for herbicides that are designed to go well with Monsanto's soybean and cotton seeds and traits. CEO Hugh Grant was happy with how things went. "The business objectives we achieved in the first half of fiscal year 2018 reflect our team's unwavering commitment to our farmer customers," Grant said, and "despite tough farm economics, we delivered a solid second quarter and are staying disciplined on near-term execution of the business." The CEO also pointed to its ongoing efforts to build its business, even as it prepares for the Bayer merger. Can Monsanto keep moving forward? Monsanto's future business prospects hinge on the same general areas it has focused on for some time. In seeds and genomics, Monsanto is looking to see greater adoption in soybeans and cotton, and the economics of product launches should get more attractive as demand grows. In the productivity business, pricing for glyphosate will drive future growth going forward. However, Monsanto's efforts to make smart strategic asset sales and licensing agreements will have less of an impact than they have in the past few years. In terms of future guidance, Monsanto still kept things simple, saying only that it expects growth in pre-tax income during the current fiscal year. Instead, comments centered on the status of the merger with Bayer. Monsanto said that it has seen progress with regulators, with antitrust approvals obtained from the European Commission, China, and Brazil. Bayer will have to divest a number of operations in order for the merger to go through, but Monsanto still sees the deal getting required approvals by the middle of 2018. Monsanto investors reacted favorably to the report, and the stock climbed 1.5% in late afternoon trading following the announcement. Yet with the stock still trading at a more than $10 per share discount to the $128 per share merger price, it's clear that not all shareholders are convinced that in the currently contentious political environment, a deal between Monsanto and Bayer will actually get done. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Dan Caplinger has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy . || Trump's Fights With China and Amazon.com Heat Up: In this Market Foolery podcast, host Mac Greer is joined by Jason Moser of Million Dollar Portfolio and David Kretzmann of Hidden Gems Canada to discuss the more interesting chatter on Wall Street. First, there's China, which answered President Trump's threat of tariffs with counterthreats of tariffs on U.S. exports. So far, the market is shrugging off the risk. Our participants discuss Trump's claim that Amazon.com (NASDAQ: AMZN) is responsible for troubles at the U.S. Postal Service -- though the e-commerce giant is actually supplying it with profits to partially cushion it from the declines to its first-class letter business. Then, they check in on Dave & Busters Entertainment (NASDAQ: PLAY) , which had an entirely unentertaining fourth-quarter release to show investors this week. And finally, they ask what Warren Buffett might have been hinting at when he said Berkshire Hathaway (NYSE: BRK-A) (NYSE: BRK-B) might buy a whole airline. A full transcript follows the video. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This This video was recorded on April 4, 2018. Mac Greer: OK, guys, let's get this party started. It's Wednesday, April 4th. Welcome to Market Foolery ! I'm Mac Greer. Joining me in studio, we have Motley Fool analysts Jason Moser and David Kretzmann. Guys, welcome! Jason Moser: Howdy! David Kretzmann: Happy Wednesday! Greer: Happy Wednesday to you! Are you feeling it? Are you excited? Kretzmann: Absolutely. Moser: I'm always excited. Greer: I think I had one a half to two many cups of coffee. Kretzmann: So you're feeling good. Greer: I'm feeling good! I think you may have to listen to this one at half speed every time I talk. Story continues Moser: I was going to say, you go by cups. I go by the pot at this point. Greer: I knew better, I said, "You know what, you're better than that," and yet I kept drinking the coffee. Kretzmann: No shame in that. Moser: California cancer warnings be damned. Caution to the wind, aren't you? Greer: I'm throwing caution to the wind, and we're going to throw caution to the wind on this show -- later in the show, we're going to do some wild speculating about Warren Buffett and what his next buy might be, because there's a lot of speculation that could be an airline. Kretzmann: Not to spoil too much. Greer: An airline in the Southwest. Kretzmann: Alright. Greer: But I don't want to give it away. We're also going to talk some Dave & Buster's, and we'll talk about Amazon. But, guys, let's begin with a potential trade war. In response to proposed tariffs by the Trump Administration on software patents and other technology, China has proposed new tariffs on U.S. products including cars, whiskey and soybeans, which is the biggest U.S. export to China. Guys, this morning, I was really fired up about this story. In the pre-market, it was looking ugly. The market opened sharply down. But now, the market has turned that frown upside down. Kretzmann: That didn't take long. Greer: It didn't take long, and that may be related to a statement made by the president's economic advisor, Larry Kudlow, right before our taping today. Kudlow told reporters that the market shouldn't overreact to trade measures, saying the market correction is mild and overdue. Kudlow went on to say that the president is a free trader at heart. So, what does it all mean for investors? Kretzmann: Well, there's a lot of back-and-forth going on between the U.S. and China. I think it's important to take a step back and recognize that these tariffs aren't going into effect right away. I think the best way to look at it at this point is, these are really negotiating tactics from the Trump Administration and, on the other side of the table, China. In the case of the U.S. proposed tariffs, companies have until May 22nd to review and probably object to the tariffs being put in place. From there, the U.S. government would have 180 extra days to review whether or not they want to put those tariffs in place and to what extent they would put them in place. So really, the worst-case scenario here is, the tariffs would probably go into place in a couple of months or even later this year if they even go into place at all. But, at this point, I look at it as negotiating tactics. I don't think the U.S. or China really wants these tariffs to be put in place. I don't think either country really benefits. Greer: Jason, it sounds like a better term might be a proposed trade war. Moser: Yeah. That's it, right? Nobody really wants a trade war. I think David's right, I think it's really more or less a couple of strong-willed individuals just trying to lob up some strong negotiating tactics and get the conversation started, at least. I think, the question we get when we see headlines like these is, "How should I change my investing strategy? What should I do as an investor? How should I change or adjust?" And honestly, the best part about our investing style -- which is, as we always talk about, investing in businesses, focusing on longer periods of time, taking things with a grain of salt and focusing on the bigger picture -- the best part about our investing style is, when you run into these kinds of stretches, there's volatility, the markets are down, and you think, "Woah!" But then, go take a look at your portfolio, particularly look at the holdings that you've had in there for a long time. And by "a long time" I mean three, four, five years, even longer. The nice part about our style of investing is, there's a good chance, if you're investing in good businesses and you've held them for three, four, five years, even longer, even in times like these, those positions are still doing really well. They're still typically going to be rewarding your portfolio. So, I think it's always nice to take a step back, take a look at your portfolio, look at those companies you've been holding on to for a long time and ask yourself, do I really need to change what I'm doing? Because in the long run, it seems to be working, these short-term sorts of moves notwithstanding. And perhaps it's an opportunity to add a little bit to those positions that are doing so well. Greer: David, pushing back on Jason's point a little bit -- Moser: Don't push back on me. Greer: OK, Jason, I'm going to push back on your point directly. If I'm a shareholder in a company like Boeing (NYSE: BA) -- Boeing last year agreed to sell 300 planes to China. That's around $37 billion worth of planes. Boeing estimates that China could buy more than a trillion dollars of aircraft over the next 20 years. That's not nothing. Moser: I'm going to pull my Tim Cook card, I would never be an investor in Boeing in the first place, Mac. How about that? Greer: Oh, what a dodge! Kretzmann: He doesn't accept the premise of your question, Mac. Moser: That's right. Greer: You reject the premise. But, if you're a Boeing shareholder, do you look at this story, and do you look in a potential trade war, and say, "You know what? Maybe I should get out." Kretzmann: I think it's premature to do that. Obviously, Boeing has a diversified business, it isn't just selling to the U.S. or to China. And hopefully you're not investing so much into Boeing that you're losing sleep at night over this proposed trade war. With our style of investing, as JaMo was outlining there, if you have a diversified portfolio of quality businesses, they're not going to be all companies largely dependent on China for the bulk of their revenue, I think you can afford, in this case, to continue holding Boeing or a company like that, that's a little bit more dependent on China for the long-term. Like I mentioned earlier, I just don't see these tariffs being put into place, at least to the extent that I think both countries are jockeying for at this point. Moser: Yeah. And to your point, I think that's a good one. Greer: Thank you. I appreciate that. Moser: All companies are not created equally; all markets and industries are not created equal. There are certain companies or industries that are going to be a bit more exposed to this than others. And I think one we've seen a lot discussed here recently is appliances and electronics, a lot of that stuff that's imported over here, chances are we have a house full of them. And on the one hand, in theory the price of things like home appliances and electronics could go up. I also was thinking about this from the other side of that, though. It doesn't necessarily mean that a retailer has to pass on those costs, especially if that retailer is run by someone who takes a longer outlook and is focused more on being the Earth's most customer-centric company, for example, [coughs] Jeff Bezos and Amazon. But, I mean, there are examples of retailers out there that will forgo that short-term profitability in order to build up that loyal customer base, and they would view things like this as a bit more temporary in nature. So, that's another way to look at it. Kretzmann: I would say, at the end of the day, I would be nervous about letting macro events drive your investing decisions one way or another. Our former Fool colleague Morgan Housel, he had an article looking back at previous Administrations. The Bush Jr. Administration was supposed to be good for airlines and energy. Those industries turned out to perform terribly under his tenure as president. Obama was supposed to be great for clean energy, and that industry by and large really performed poorly, from an investing perspective. For me, it comes down to, don't let those macro decisions drive your investing decisions. At The Fool, we tend to be bottom-up investors. Focus on finding great, quality businesses that you think have good odds to perform well over the next five years or beyond, regardless of which administration or political party has power at that given time. Greer: And it sounds like you're both saying, this could end up being more of a trade kerfuffle, right? Not a trade war. Kretzmann: I would lean more toward that. Greer: Kerfuffle. Kretzmann: Kerfuffle, I like it. Greer: Can we all say that together, kerfuffle? Kretzmann: Kerfuffle. Moser: Kerfuffle. Greer: Thank you. Let's move on. Jason, you mentioned Amazon. President Trump continuing his war on Amazon. On Tuesday, Trump tweeted that Amazon is costing the United States Post Office massive amounts of money for being their "delivery boy." I want to set the table with some not-so-fun facts here. Ready? The U.S. Postal Service has lost money for 11 straight years. They have significant pension and healthcare costs. Around two-thirds of Amazon packages pass through the U.S. Postal Service at some point. That's a lot. Amazon's network of warehouses is so extensive now that it pays sales tax in every state that has a sales tax. But, Amazon also facilitates third-party sales, and those third-party companies do not need to pay sales taxes in states where they don't have a physical presence. Finally, the Postal Service has a monopoly on regular mail delivery, as we all know. And you may have noticed that's a declining business. Kretzmann: Even with the monopoly status. Greer: There you go. So, what do you think about President Trump's war on Amazon? Are we all Amazon shareholders here? Moser: Yes, I am. Kretzmann: Yes. Greer: What does that mean for you? Kretzmann: I'll kick it off here. I think in this case, the USPS needs Amazon more than Amazon needs the USPS. The President's claims that Amazon is hurting the USPS, I don't know if there's actually a whole lot of facts behind that to back it up. In a way, it's that parcel and package delivery business that's actually been a growth driver for USPS. And that's driven, of course, by Amazon and the plethora of e-commerce activity we're seeing. So, that's something I would need to look into more. But, at this point, like you mentioned, Mac, what used to be the USPS' bread and butter, first class mail delivery, that's been a declining business for a long time now. That package and parcel business with Amazon and others is where the growth has been. So, I think if USPS had to renegotiate its rates with Amazon, Amazon can go to FedEx (NYSE: FDX) or DHL or UPS (NYSE: UPS) . Amazon is already testing out its own delivery service in LA. I suspect that's something that the company will roll out nationwide as they start to get that under their belt more. So, for me, it comes down to, USPS needs Amazon more than the other way around. Moser: I absolutely agree with that. It's not like the USPS' business just went to crap overnight. It's been bad for a long time. Greer: Take heart, you've been crappy for a while. Moser: My entire life is like a Seinfeld episode, I relate to things via Seinfeld. I can always go back to that episode where Kramer tries to have the Post Office stop sending him mail, and Newman takes over and his bosses go crazy. So, there's an interesting situation here with the USPS, because it does seem like, when I get my mail every day, it goes from the mailbox to the trash can. I could do without it. I also find it very interesting that he was not targeting FedEx and/ or UPS in this process. Perhaps that's because they don't necessarily have the ties to the government that USPS does. But Amazon has a lot of stuff that flows through the UPS services and FedEx services, as well. It's not like Amazon isn't paying for stuff to be shipped. If you look at it as a percentage of net sales, fulfillment was 12.5% of net sales in 2015, 13% in 2016, and 14.2% in 2017. Also keep in mind that throughout this entire stretch, Amazon Web Services has become a bigger part of Amazon's business as well. This is all just to say that Amazon is paying -- and this is a technical term -- a buttload in shipping and fulfillment costs every year. It's not like the USPS is getting the short-ended here. Greer: So they're not getting a free ride. Moser: No, they're not getting a free ride! And I can't help but feel like this is maybe a bit of a personal vendetta. I think there's probably some questions. Greer: Jeff Bezos owns The Washington Post. Moser: Yeah. So, I just think there's a little bit more here than meets the eye. I consider it a non-issue. I think it's kind of a soap opera, more or less, a little sideshow that's probably going to fade into the background pretty quickly. I mean, it would be one thing if Amazon's services and what they're doing wasn't benefiting customers. But people love Amazon. Customers are winning from using Amazon. It makes things better for us, it's bringing down costs, it's giving us more time. It'd be different if Amazon was a blight on society, but it's not. Greer: OK, guys, let's talk some Dave & Buster's. Dave & Buster's down big on earnings. Guys, same-store sales down almost 7%. Kretzmann: Oof. Greer: That seems bad. [laughs] Investors aren't too happy about the company's outlook for the full year. Kretzmann: Yeah, this was a really rough quarter. It's especially rough because, the fourth quarter of 2017 was actually the best quarter for restaurants in the U.S. in over two years. Dave & Buster's, their fourth quarter results in this case actually got progressively worse through the quarter. Their same-store sales were OK in November, got worse in December and got even worse in January, at the same time where restaurants as a whole over that same period were actually improving their results. So, a little bit baffling here. Just reading through the conference call, management seems so scatterbrained right now. They're like, "We need to improve our food, we need to improve our speed and delivery of the food, we need to improve our amusements, and at the same time, we're going to continue opening new stores." They were clearly caught off guard here. They missed their expectations. They're now expecting the same-store sales to decline for this upcoming fiscal year. So, a rough situation. Last year, I had seen Dave & Buster's, their numbers as far as same-store sales and revenue and earnings growth had actually been a lot better compared to a lot of other restaurants which were struggling, as we all know. But this is really puzzling to me, that people just aren't going to the stores as much as they were a year ago, and I don't think management knows why. And their strategy to turn that around isn't all that compelling to me. One thing that they mentioned as far as the amusements go, which makes up about 55% of their business, those games and amusements, they're rolling out a couple virtual reality games this year. I'm thinking, who would go to a Dave & Busters to put on a VR headset, which totally takes the social aspect out of the experience? So, if you're banking your turnaround hopes on two VR games this year, that's a head scratcher to me. Greer: So, I'll count you as skeptical. Kretzmann: I'm skeptical. And another thing is, over the past year, they've actually increased their debt load by over $100 million. This is a company now sitting on over $330 million in debt. People aren't going to the stores like they were, management doesn't really know why. And at the same time, they're opening new stores. Greer: Tell me more! Moser: Is the debt to open those stores? What are they doing with that debt? Kretzmann: Yeah, mainly to open new stores. When they went public a couple years ago, they already had a hefty debt load. If I was management now, I would slow down the new store openings, really focus on improving performance of your existing stores, pay down that debt load. If you're putting up -6% comps when the economy is doing pretty well, restaurants as a whole are doing pretty well, next time a recession comes along, that's going to get way uglier. Moser: Yeah. I've never been to Dave & Buster's, I don't really know much about it, it sounds like a Chuck-E-Cheese for adults, kind of. Kretzmann: Pretty much, yeah. Greer: That's fair. But you can drop a lot of cash in a hurry. I almost think of it as more of a casino. Moser: To your point there, and that's just it, with Dave & Buster's, about half of their revenue is tied to the actual games and entertainment in the stores. We always talk about with restaurants; the key is traffic. You have a lot of fixed costs in keeping the restaurant open and staffed. So, the more traffic you bring in, the more profitability. Traffic is the key. And it seems to me that with Dave & Buster's, that would be doubly so, because you have a concept that's not just dependent on the food, but it's dependent on the games as well. And I don't know that Dave & Buster's is necessarily known for slinging a bunch of really good food, either. So, to me, the debt load seems to be the icing on the cake there as to, why would you invest in a company like this that doesn't seem like it's being managed very well? Kretzmann: Yeah. I think the actual concept is appealing in a lot of ways, because you're not overly exposed to food and beverage trends, and you also have that high-margin revenue coming from the games and amusements. But in this case, I really struggle to see where management is going with this. It would be one thing if they acknowledged, "Yeah, we had a bad quarter, here are some ideas why." But at this point, it really seems like a shotgun approach. You can't just say, "We're going to improve everything and hope that leads to more people coming back." It can't be everything that you need to improve. Greer: Focus. Kretzmann: Focus on something. It seems like at this point, they're doing a lot of things in a mediocre way, and they're just going to double down on that strategy, at the same time that they're opening new stores. And when you have that level of debt if you're a restaurant or retailer, that really takes away your flexibility when times actually do get tough on a macro level. That's why I'm a little more cautious today. The stock is trading at a pretty reasonable multiple, so it does have that going for it. But, 15X earnings, I think if you're interested in restaurants, there are better-operated restaurants than Dave & Buster's right now. Greer: Guys, for our final story here, I what to do some speculating. It's a bit reckless, it's a bit wild, but it is grounded in a story about Warren Buffett. Moser: Grounded. Greer: Grounded is appropriate, because it's about an airline. Southwest Airlines CEO Gary Kelly has come out and said that he has not talked with Warren Buffett about a possible sale. This comes after Buffett sparked speculation with a comment that he wouldn't rule out owning an entire airline. And I should probably mention that Berkshire owns around 8% of Southwest Airlines, and Berkshire has around $116 billion in cash. So, is Buffett going to buy Southwest? And if not, where's he going with that? Kretzmann: If he was going to buy an airline, I would hope it would be Southwest. Since Berkshire tends to have a hands-off approach, they could continue to let Southwest to be awesome. It takes away the likelihood of someone else, an activist investor, coming in and saying, "If you just take away some of those perks, you'll raise your margins." As far as airlines right now that I want their business model and practices to be preserved, I would love Southwest to continue to have that kind of flexibility. And maybe operating under Berkshire is a nice way to do that while still having independence over the culture, which has been a huge contributor to their success. Moser: I'll go in a little bit of a different direction here. I think this is going to be potentially an easier one for Berkshire to swallow. For all of my life, I've sworn no loyalty to any airline whatsoever because I never really cared. Just give me a reasonably priced ticket and get me there safely. Greer: No Delta , given your Atlanta roots? Moser: Whatever. I go to Priceline , I buy a ticket, just get me there. You know what I mean? Greer: Pretty sentimental there. Moser: Well, I'm a sentimental guy. Old and grumpy. But, we were in the Bahamas last week -- Greer: Quit bragging. Moser: Well, let me give you my mango banana analogy. We were on the way back, and we just worked out our airfare, we flew different airlines here and there. But, JetBlue was the airline that we flew back. I think it may have been the first time I'd ever flown JetBlue. But, I was thoroughly impressed not only with the customer service that we received from them in the airports, but also with the planes. The seats are big. Greer: Comfortable. Moser: Yeah! I was really amazed. And from what I could gather, we were on two different sized planes, it doesn't appear that they have first class, either. So, from what I can gather, it seems like it's just one class, make the plane a little bit bigger for everybody. I was impressed. I left that thinking -- and I bet David Gardner would like this, because I think JetBlue is in his universe in Stock Advisor. This is the one airline where I thought, I would actually make an effort to fly them again because it was just such an enjoyable, comfortable trip on the way home. And comparing it to the trip going there, there was a noticeable difference. JetBlue, considerably smaller than Southwest. It's only about a $6.5 billion market cap company today. Why not just buy both? Kretzmann: Sure. Moser: Southwest and JetBlue. Then you really corner the market on good airlines, they're comfy, no frills, getting people back and forth. You could probably build up some pretty good loyalty there, I bet. Greer: I need to know if I need to give up my dream of Warren Buffett buying Costco . Costco has a market cap of around $81 billion. And let me mention, as you may know, Charlie Munger is on Costco's board. So, it's not completely crazy talk, but that's a pretty hefty price tag. Kretzmann: Yeah, that would be a large pill to swallow. The biggest acquisition Berkshire has made I think was around $40 billion. Moser: Was it Burlington Northern? Kretzmann: No, it was the Castparts one. Moser: Precision Castparts. Kretzmann: Yeah. I think that was around $40 billion. So, $80 billion or higher, I wouldn't bet on it, no. Greer: OK. Campbell Soup , $13 billion. Moser: I stand by McCormick (NYSE: MKC) . I just stand by McCormick. I've said this ever since I started working here. This is the kind of nerd I am. I'm going to go back to the Bahamas again, Mac. My wife was even looking at the pictures I took when we were there, and she was like, "Jason, why do you have a picture of the spice rack from the grocery store?" Greer: That sounds like a cry for help. Moser: [laughs] Well, I was in the grocery store, just a local grocery store, looking at the spice rack, and I'm thinking, there's a bunch of McCormick stuff, and then there's some other generic brands and local brands, and I'm taking a picture so I don't forget the names of them because when I get home I want to look them up and start researching to see what names McCormick is responsible for on that spice rack. So, I think McCormick could still be a cool acquisition for them to make, particularly after the RB Foods deal that brings French's mustard and Frank's RedHot Sauce under their umbrella. Man, McCormick is just a Berkshire company through and through. Greer: I will confess, I don't know if I heard any of that last part, because I can't stop thinking about you taking a picture of a spice rack, and someone in the front of the store feeling the need to call authorities. Moser: Yeah, I'm sure. Greer: It's a little ... Moser: It's a little weird. Greer: ... I don't want to say "creepy," but it's not usual. Moser: I can't turn my mind off. Kretzmann: It's unique. Greer: It's unique. It's not ordinary behavior. Moser: I'm just hardwired a certain way, man. I can't get past it. Greer: It's not against the law. Moser: I can't get past it. I mean, I'm the cook of the house. Maybe that has something to do with it. I mean, I think I can at least play that angle. Greer: I think that's good, I would lead with that next time. "I'm the cook of the house and I took a picture of the spice rack." Otherwise it feels like a cry for help. Kretzmann: Well, here's a contrarian thought for Berkshire: I think they need some more restaurants in their portfolio to compliment Dairy Queen. Why not? A lot of restaurants are cheap right now. Greer: Nice. Kretzmann: I don't know if you go after Domino's , which is basically printing money. Moser: Chick-fil-A . Kretzmann: Chick-fil-A, there you go. So, I don't know, why not branch out that restaurant portfolio? A lot of cheap concepts out there right now. Greer: But not Dave & Buster's. Kretzmann: Not Dave & Buster's, not at all. Anything but Dave & Buster's, you'll have a better bet. Greer: OK, I suspect I know where you're going with this one, but, my desert island question. You're on a desert island, you can only own one of these stocks for the next five years. We have Dave & Buster's, we have Amazon, or we have Berkshire. Where are you going? Kretzmann: From here, I'll go with Berkshire. Why not? Moser: I'm just Amazon through and through. To me, there's such a big market opportunity in so many different ways. I'm a big fan of the business and intend on owning those shares for a very long time to come. Greer: OK. Guys, well, thanks for joining me! Kretzmann: Thanks, Mac! Moser: Thank you! Greer: As always, people on the show they have interests in the stocks they talk about, and The Motley Fool may have formal recommendations for or against, so don't buy or sell stocks based solely on what you hear. That's it for this edition of Market Foolery . The show is mixed by Dan Boyd. I'm Mac Greer. Thanks for listening! We'll see you tomorrow! John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. David Kretzmann owns shares of Amazon, Berkshire Hathaway (B shares), Booking Holdings, Costco Wholesale, Domino's Pizza, and McCormick. Jason Moser owns shares of Berkshire Hathaway (B shares). Mac Greer owns shares of Amazon and Costco Wholesale. The Motley Fool owns shares of and recommends Amazon, Berkshire Hathaway (B shares), and Booking Holdings. The Motley Fool recommends Costco Wholesale, Dave & Buster's Entertainment, FedEx, JetBlue Airways, and McCormick. The Motley Fool has a disclosure policy . || Sagging Corn Pulls Down Monsanto's Sales: Monsanto(NYSE: MON)has become an agricultural giant, helping farming operations boost productivity through crop-enhancing products and seed traits that have garnered their fair share of controversy over the years. Yet one distracting issue has been the fact that there's still considerable uncertainty about whether the ag company'sproposed merger with Bayerwill finally move forward. Monsanto appears confident that it will, but shareholders aren't pricing the stock in a manner that shows equal confidence, especially as geopolitical tensions over trade heat up.
Coming into Thursday's fiscal second-quarter report, Monsanto investors had wanted to see continued modest growth in sales and profits. Instead, Monsanto's net sales actually declined from year-ago levels and earnings didn't rise as much as investors had been hoping for. Let's look more closely at Monsanto to see how it did and what's ahead.
Image source: Monsanto.
Monsanto's fiscal second-quarter results continued some of the trends thatwe've seen in recent quarters. Total sales fell about 1%, to $5.02 billion, which was far worse than the $5.3 billion top-line figure that most investors were hoping to see. Net income was higher by about 7%, to $1.46 billion, but after making allowances for extraordinary items, adjusted earnings of $3.22 per share fell short of the consensus forecast of $3.31 per share among those following the stock.
Once again, the seeds and genomics segment was the challenging part of Monsanto's business. Overall sales for the unit were down 2%, led lower by a more than 6% drop in corn seed and traits-related revenue. Gains in soybeans, cotton, vegetable, and other seeds and traits weren't enough to offset the damage done from poor performance in corn.
In its commentary, Monsanto said that it continues to expect record levels of its Roundup Ready 2 Xtend soybean product to get planted during the current fiscal year. However, timing delays in corn planting and generally lower expectations for corn planting acreage weighed on that part of the market. Weakness in corn pricing also hurt the segment's popularity, and overall, pre-tax profit was down about 2% from year-ago levels.
Agricultural productivity continued to help Monsanto. Sales were higher by about 5%, with about a 20% gain in pre-tax profit. Pricing for key products was strong, and the company expects to see ongoing demand for herbicides that are designed to go well with Monsanto's soybean and cotton seeds and traits.
CEO Hugh Grant was happy with how things went. "The business objectives we achieved in the first half of fiscal year 2018 reflect our team's unwavering commitment to our farmer customers," Grant said, and "despite tough farm economics, we delivered a solid second quarter and are staying disciplined on near-term execution of the business." The CEO also pointed to its ongoing efforts to build its business, even as it prepares for the Bayer merger.
Monsanto's future business prospects hinge on the same general areas it has focused on for some time. In seeds and genomics, Monsanto is looking to see greater adoption in soybeans and cotton, and the economics of product launches should get more attractive as demand grows. In the productivity business, pricing for glyphosate will drive future growth going forward. However, Monsanto's efforts to make smart strategic asset sales and licensing agreements will have less of an impact than they have in the past few years.
In terms of future guidance, Monsanto still kept things simple, saying only that it expects growth in pre-tax income during the current fiscal year. Instead, comments centered on the status of the merger with Bayer. Monsanto said that it has seen progress with regulators, with antitrust approvals obtained from the European Commission, China, and Brazil. Bayer will have to divest a number of operations in order for the merger to go through, but Monsanto still sees the deal getting required approvals by the middle of 2018.
Monsanto investors reacted favorably to the report, and the stock climbed 1.5% in late afternoon trading following the announcement. Yet with thestock still tradingat a more than $10 per share discount to the $128 per share merger price, it's clear that not all shareholders are convinced that in the currently contentious political environment, a deal between Monsanto and Bayer will actually get done.
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Dan Caplingerhas no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has adisclosure policy. || Trump's Fights With China and Amazon.com Heat Up: In thisMarket Foolerypodcast, host Mac Greer is joined by Jason Moser ofMillion Dollar Portfolioand David Kretzmann ofHidden Gems Canadato discuss the more interesting chatter on Wall Street. First, there's China, which answered President Trump's threat of tariffs with counterthreats of tariffs on U.S. exports. So far, the market is shrugging off the risk.
Our participants discuss Trump's claim thatAmazon.com(NASDAQ: AMZN)is responsible for troubles at the U.S. Postal Service -- though the e-commerce giant is actually supplying it with profits to partially cushion it from the declines to its first-class letter business. Then, they check in onDave & Busters Entertainment(NASDAQ: PLAY), which had an entirely unentertaining fourth-quarter release to show investors this week. And finally, they ask what Warren Buffett might have been hinting at when he saidBerkshire Hathaway(NYSE: BRK-A)(NYSE: BRK-B)might buy a whole airline.
A full transcript follows the video.
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This video was recorded on April 4, 2018.
Mac Greer:OK, guys, let's get this party started. It's Wednesday, April 4th. Welcome toMarket Foolery! I'm Mac Greer. Joining me in studio, we have Motley Fool analysts Jason Moser and David Kretzmann. Guys, welcome!
Jason Moser:Howdy!
David Kretzmann:Happy Wednesday!
Greer:Happy Wednesday to you! Are you feeling it? Are you excited?
Kretzmann:Absolutely.
Moser:I'm always excited.
Greer:I think I had one a half to two many cups of coffee.
Kretzmann:So you're feeling good.
Greer:I'm feeling good! I think you may have to listen to this one at half speed every time I talk.
Moser:I was going to say, you go by cups. I go by the pot at this point.
Greer:I knew better, I said, "You know what, you're better than that," and yet I kept drinking the coffee.
Kretzmann:No shame in that.
Moser:California cancer warnings be damned. Caution to the wind, aren't you?
Greer:I'm throwing caution to the wind, and we're going to throw caution to the wind on this show -- later in the show, we're going to do some wild speculating about Warren Buffett and what his next buy might be, because there's a lot of speculation that could be an airline.
Kretzmann:Not to spoil too much.
Greer:An airline in the Southwest.
Kretzmann:Alright.
Greer:But I don't want to give it away. We're also going to talk some Dave & Buster's, and we'll talk about Amazon. But, guys, let's begin with a potential trade war. In response to proposed tariffs by the Trump Administration on software patents and other technology, China has proposed new tariffs on U.S. products including cars, whiskey and soybeans, which is the biggest U.S. export to China. Guys, this morning, I was really fired up about this story. In the pre-market, it was looking ugly. The market opened sharply down. But now, the market has turned that frown upside down.
Kretzmann:That didn't take long.
Greer:It didn't take long, and that may be related to a statement made by the president's economic advisor, Larry Kudlow, right before our taping today. Kudlow told reporters that the market shouldn't overreact to trade measures, saying the market correction is mild and overdue. Kudlow went on to say that the president is a free trader at heart. So, what does it all mean for investors?
Kretzmann:Well, there's a lot of back-and-forth going on between the U.S. and China. I think it's important to take a step back and recognize that these tariffs aren't going into effect right away. I think the best way to look at it at this point is, these are really negotiating tactics from the Trump Administration and, on the other side of the table, China. In the case of the U.S. proposed tariffs, companies have until May 22nd to review and probably object to the tariffs being put in place. From there, the U.S. government would have 180 extra days to review whether or not they want to put those tariffs in place and to what extent they would put them in place. So really, the worst-case scenario here is, the tariffs would probably go into place in a couple of months or even later this year if they even go into place at all. But, at this point, I look at it as negotiating tactics. I don't think the U.S. or China really wants these tariffs to be put in place. I don't think either country really benefits.
Greer:Jason, it sounds like a better term might be a proposed trade war.
Moser:Yeah. That's it, right? Nobody really wants a trade war. I think David's right, I think it's really more or less a couple of strong-willed individuals just trying to lob up some strong negotiating tactics and get the conversation started, at least.
I think, the question we get when we see headlines like these is, "How should I change my investing strategy? What should I do as an investor? How should I change or adjust?" And honestly, the best part about our investing style -- which is, as we always talk about, investing in businesses, focusing on longer periods of time, taking things with a grain of salt and focusing on the bigger picture -- the best part about our investing style is, when you run into these kinds of stretches, there's volatility, the markets are down, and you think, "Woah!" But then, go take a look at your portfolio, particularly look at the holdings that you've had in there for a long time. And by "a long time" I mean three, four, five years, even longer. The nice part about our style of investing is, there's a good chance, if you're investing in good businesses and you've held them for three, four, five years, even longer, even in times like these, those positions are still doing really well. They're still typically going to be rewarding your portfolio.
So, I think it's always nice to take a step back, take a look at your portfolio, look at those companies you've been holding on to for a long time and ask yourself, do I really need to change what I'm doing? Because in the long run, it seems to be working, these short-term sorts of moves notwithstanding. And perhaps it's an opportunity to add a little bit to those positions that are doing so well.
Greer:David, pushing back on Jason's point a little bit --
Moser:Don't push back on me.
Greer:OK, Jason, I'm going to push back on your point directly. If I'm a shareholder in a company likeBoeing(NYSE: BA)-- Boeing last year agreed to sell 300 planes to China. That's around $37 billion worth of planes. Boeing estimates that China could buy more than a trillion dollars of aircraft over the next 20 years. That's not nothing.
Moser:I'm going to pull my Tim Cook card, I would never be an investor in Boeing in the first place, Mac. How about that?
Greer:Oh, what a dodge!
Kretzmann:He doesn't accept the premise of your question, Mac.
Moser:That's right.
Greer:You reject the premise. But, if you're a Boeing shareholder, do you look at this story, and do you look in a potential trade war, and say, "You know what? Maybe I should get out."
Kretzmann:I think it's premature to do that. Obviously, Boeing has a diversified business, it isn't just selling to the U.S. or to China. And hopefully you're not investing so much into Boeing that you're losing sleep at night over this proposed trade war. With our style of investing, as JaMo was outlining there, if you have a diversified portfolio of quality businesses, they're not going to be all companies largely dependent on China for the bulk of their revenue, I think you can afford, in this case, to continue holding Boeing or a company like that, that's a little bit more dependent on China for the long-term. Like I mentioned earlier, I just don't see these tariffs being put into place, at least to the extent that I think both countries are jockeying for at this point.
Moser:Yeah. And to your point, I think that's a good one.
Greer:Thank you. I appreciate that.
Moser:All companies are not created equally; all markets and industries are not created equal. There are certain companies or industries that are going to be a bit more exposed to this than others. And I think one we've seen a lot discussed here recently is appliances and electronics, a lot of that stuff that's imported over here, chances are we have a house full of them. And on the one hand, in theory the price of things like home appliances and electronics could go up.
I also was thinking about this from the other side of that, though. It doesn't necessarily mean that a retailer has to pass on those costs, especially if that retailer is run by someone who takes a longer outlook and is focused more on being the Earth's most customer-centric company, for example, [coughs] Jeff Bezos and Amazon. But, I mean, there are examples of retailers out there that will forgo that short-term profitability in order to build up that loyal customer base, and they would view things like this as a bit more temporary in nature. So, that's another way to look at it.
Kretzmann:I would say, at the end of the day, I would be nervous about letting macro events drive your investing decisions one way or another. Our former Fool colleague Morgan Housel, he had an article looking back at previous Administrations. The Bush Jr. Administration was supposed to be good for airlines and energy. Those industries turned out to perform terribly under his tenure as president. Obama was supposed to be great for clean energy, and that industry by and large really performed poorly, from an investing perspective.
For me, it comes down to, don't let those macro decisions drive your investing decisions. At The Fool, we tend to be bottom-up investors. Focus on finding great, quality businesses that you think have good odds to perform well over the next five years or beyond, regardless of which administration or political party has power at that given time.
Greer:And it sounds like you're both saying, this could end up being more of a trade kerfuffle, right? Not a trade war.
Kretzmann:I would lean more toward that.
Greer:Kerfuffle.
Kretzmann:Kerfuffle, I like it.
Greer:Can we all say that together, kerfuffle?
Kretzmann:Kerfuffle.
Moser:Kerfuffle.
Greer:Thank you. Let's move on. Jason, you mentioned Amazon. President Trump continuing his war on Amazon. On Tuesday, Trump tweeted that Amazon is costing the United States Post Office massive amounts of money for being their "delivery boy." I want to set the table with some not-so-fun facts here. Ready? The U.S. Postal Service has lost money for 11 straight years. They have significant pension and healthcare costs. Around two-thirds of Amazon packages pass through the U.S. Postal Service at some point. That's a lot.
Amazon's network of warehouses is so extensive now that it pays sales tax in every state that has a sales tax. But, Amazon also facilitates third-party sales, and those third-party companies do not need to pay sales taxes in states where they don't have a physical presence. Finally, the Postal Service has a monopoly on regular mail delivery, as we all know. And you may have noticed that's a declining business.
Kretzmann:Even with the monopoly status.
Greer:There you go. So, what do you think about President Trump's war on Amazon? Are we all Amazon shareholders here?
Moser:Yes, I am.
Kretzmann:Yes.
Greer:What does that mean for you?
Kretzmann:I'll kick it off here. I think in this case, the USPS needs Amazon more than Amazon needs the USPS. The President's claims that Amazon is hurting the USPS, I don't know if there's actually a whole lot of facts behind that to back it up. In a way, it's that parcel and package delivery business that's actually been a growth driver for USPS. And that's driven, of course, by Amazon and the plethora of e-commerce activity we're seeing. So, that's something I would need to look into more.
But, at this point, like you mentioned, Mac, what used to be the USPS' bread and butter, first class mail delivery, that's been a declining business for a long time now. That package and parcel business with Amazon and others is where the growth has been. So, I think if USPS had to renegotiate its rates with Amazon, Amazon can go toFedEx(NYSE: FDX)or DHL orUPS(NYSE: UPS). Amazon is already testing out its own delivery service in LA. I suspect that's something that the company will roll out nationwide as they start to get that under their belt more. So, for me, it comes down to, USPS needs Amazon more than the other way around.
Moser:I absolutely agree with that. It's not like the USPS' business just went to crap overnight. It's been bad for a long time.
Greer:Take heart, you've been crappy for a while.
Moser:My entire life is like a Seinfeld episode, I relate to things via Seinfeld. I can always go back to that episode where Kramer tries to have the Post Office stop sending him mail, and Newman takes over and his bosses go crazy. So, there's an interesting situation here with the USPS, because it does seem like, when I get my mail every day, it goes from the mailbox to the trash can. I could do without it.
I also find it very interesting that he was not targeting FedEx and/ or UPS in this process. Perhaps that's because they don't necessarily have the ties to the government that USPS does. But Amazon has a lot of stuff that flows through the UPS services and FedEx services, as well. It's not like Amazon isn't paying for stuff to be shipped. If you look at it as a percentage of net sales, fulfillment was 12.5% of net sales in 2015, 13% in 2016, and 14.2% in 2017. Also keep in mind that throughout this entire stretch, Amazon Web Services has become a bigger part of Amazon's business as well. This is all just to say that Amazon is paying -- and this is a technical term -- a buttload in shipping and fulfillment costs every year. It's not like the USPS is getting the short-ended here.
Greer:So they're not getting a free ride.
Moser:No, they're not getting a free ride! And I can't help but feel like this is maybe a bit of a personal vendetta. I think there's probably some questions.
Greer:Jeff Bezos owns The Washington Post.
Moser:Yeah. So, I just think there's a little bit more here than meets the eye. I consider it a non-issue. I think it's kind of a soap opera, more or less, a little sideshow that's probably going to fade into the background pretty quickly. I mean, it would be one thing if Amazon's services and what they're doing wasn't benefiting customers. But people love Amazon. Customers are winning from using Amazon. It makes things better for us, it's bringing down costs, it's giving us more time. It'd be different if Amazon was a blight on society, but it's not.
Greer:OK, guys, let's talk some Dave & Buster's. Dave & Buster's down big on earnings. Guys, same-store sales down almost 7%.
Kretzmann:Oof.
Greer:That seems bad. [laughs] Investors aren't too happy about the company's outlook for the full year.
Kretzmann:Yeah, this was a really rough quarter. It's especially rough because, the fourth quarter of 2017 was actually the best quarter for restaurants in the U.S. in over two years. Dave & Buster's, their fourth quarter results in this case actually got progressively worse through the quarter. Their same-store sales were OK in November, got worse in December and got even worse in January, at the same time where restaurants as a whole over that same period were actually improving their results. So, a little bit baffling here.
Just reading through the conference call, management seems so scatterbrained right now. They're like, "We need to improve our food, we need to improve our speed and delivery of the food, we need to improve our amusements, and at the same time, we're going to continue opening new stores." They were clearly caught off guard here. They missed their expectations. They're now expecting the same-store sales to decline for this upcoming fiscal year. So, a rough situation.
Last year, I had seen Dave & Buster's, their numbers as far as same-store sales and revenue and earnings growth had actually been a lot better compared to a lot of other restaurants which were struggling, as we all know. But this is really puzzling to me, that people just aren't going to the stores as much as they were a year ago, and I don't think management knows why. And their strategy to turn that around isn't all that compelling to me.
One thing that they mentioned as far as the amusements go, which makes up about 55% of their business, those games and amusements, they're rolling out a couple virtual reality games this year. I'm thinking, who would go to a Dave & Busters to put on a VR headset, which totally takes the social aspect out of the experience? So, if you're banking your turnaround hopes on two VR games this year, that's a head scratcher to me.
Greer:So, I'll count you as skeptical.
Kretzmann:I'm skeptical. And another thing is, over the past year, they've actually increased their debt load by over $100 million. This is a company now sitting on over $330 million in debt. People aren't going to the stores like they were, management doesn't really know why. And at the same time, they're opening new stores.
Greer:Tell me more!
Moser:Is the debt to open those stores? What are they doing with that debt?
Kretzmann:Yeah, mainly to open new stores. When they went public a couple years ago, they already had a hefty debt load. If I was management now, I would slow down the new store openings, really focus on improving performance of your existing stores, pay down that debt load. If you're putting up -6% comps when the economy is doing pretty well, restaurants as a whole are doing pretty well, next time a recession comes along, that's going to get way uglier.
Moser:Yeah. I've never been to Dave & Buster's, I don't really know much about it, it sounds like a Chuck-E-Cheese for adults, kind of.
Kretzmann:Pretty much, yeah.
Greer:That's fair. But you can drop a lot of cash in a hurry. I almost think of it as more of a casino.
Moser:To your point there, and that's just it, with Dave & Buster's, about half of their revenue is tied to the actual games and entertainment in the stores. We always talk about with restaurants; the key is traffic. You have a lot of fixed costs in keeping the restaurant open and staffed. So, the more traffic you bring in, the more profitability. Traffic is the key. And it seems to me that with Dave & Buster's, that would be doubly so, because you have a concept that's not just dependent on the food, but it's dependent on the games as well. And I don't know that Dave & Buster's is necessarily known for slinging a bunch of really good food, either. So, to me, the debt load seems to be the icing on the cake there as to, why would you invest in a company like this that doesn't seem like it's being managed very well?
Kretzmann:Yeah. I think the actual concept is appealing in a lot of ways, because you're not overly exposed to food and beverage trends, and you also have that high-margin revenue coming from the games and amusements. But in this case, I really struggle to see where management is going with this. It would be one thing if they acknowledged, "Yeah, we had a bad quarter, here are some ideas why." But at this point, it really seems like a shotgun approach. You can't just say, "We're going to improve everything and hope that leads to more people coming back." It can't be everything that you need to improve.
Greer:Focus.
Kretzmann:Focus on something. It seems like at this point, they're doing a lot of things in a mediocre way, and they're just going to double down on that strategy, at the same time that they're opening new stores. And when you have that level of debt if you're a restaurant or retailer, that really takes away your flexibility when times actually do get tough on a macro level. That's why I'm a little more cautious today. The stock is trading at a pretty reasonable multiple, so it does have that going for it. But, 15X earnings, I think if you're interested in restaurants, there are better-operated restaurants than Dave & Buster's right now.
Greer:Guys, for our final story here, I what to do some speculating. It's a bit reckless, it's a bit wild, but it is grounded in a story about Warren Buffett.
Moser:Grounded.
Greer:Grounded is appropriate, because it's about an airline.Southwest AirlinesCEO Gary Kelly has come out and said that he has not talked with Warren Buffett about a possible sale. This comes after Buffett sparked speculation with a comment that he wouldn't rule out owning an entire airline. And I should probably mention that Berkshire owns around 8% of Southwest Airlines, and Berkshire has around $116 billion in cash. So, is Buffett going to buy Southwest? And if not, where's he going with that?
Kretzmann:If he was going to buy an airline, I would hope it would be Southwest. Since Berkshire tends to have a hands-off approach, they could continue to let Southwest to be awesome. It takes away the likelihood of someone else, an activist investor, coming in and saying, "If you just take away some of those perks, you'll raise your margins." As far as airlines right now that I want their business model and practices to be preserved, I would love Southwest to continue to have that kind of flexibility. And maybe operating under Berkshire is a nice way to do that while still having independence over the culture, which has been a huge contributor to their success.
Moser:I'll go in a little bit of a different direction here. I think this is going to be potentially an easier one for Berkshire to swallow. For all of my life, I've sworn no loyalty to any airline whatsoever because I never really cared. Just give me a reasonably priced ticket and get me there safely.
Greer:NoDelta, given your Atlanta roots?
Moser:Whatever. I go toPriceline, I buy a ticket, just get me there. You know what I mean?
Greer:Pretty sentimental there.
Moser:Well, I'm a sentimental guy. Old and grumpy. But, we were in the Bahamas last week --
Greer:Quit bragging.
Moser:Well, let me give you my mango banana analogy. We were on the way back, and we just worked out our airfare, we flew different airlines here and there. But,JetBluewas the airline that we flew back. I think it may have been the first time I'd ever flown JetBlue. But, I was thoroughly impressed not only with the customer service that we received from them in the airports, but also with the planes. The seats are big.
Greer:Comfortable.
Moser:Yeah! I was really amazed. And from what I could gather, we were on two different sized planes, it doesn't appear that they have first class, either. So, from what I can gather, it seems like it's just one class, make the plane a little bit bigger for everybody. I was impressed. I left that thinking -- and I bet David Gardner would like this, because I think JetBlue is in his universe in Stock Advisor. This is the one airline where I thought, I would actually make an effort to fly them again because it was just such an enjoyable, comfortable trip on the way home. And comparing it to the trip going there, there was a noticeable difference. JetBlue, considerably smaller than Southwest. It's only about a $6.5 billion market cap company today. Why not just buy both?
Kretzmann:Sure.
Moser:Southwest and JetBlue. Then you really corner the market on good airlines, they're comfy, no frills, getting people back and forth. You could probably build up some pretty good loyalty there, I bet.
Greer:I need to know if I need to give up my dream of Warren Buffett buyingCostco. Costco has a market cap of around $81 billion. And let me mention, as you may know, Charlie Munger is on Costco's board. So, it's not completely crazy talk, but that's a pretty hefty price tag.
Kretzmann:Yeah, that would be a large pill to swallow. The biggest acquisition Berkshire has made I think was around $40 billion.
Moser:Was it Burlington Northern?
Kretzmann:No, it was the Castparts one.
Moser:Precision Castparts.
Kretzmann:Yeah. I think that was around $40 billion. So, $80 billion or higher, I wouldn't bet on it, no.
Greer:OK.Campbell Soup, $13 billion.
Moser:I stand byMcCormick(NYSE: MKC). I just stand by McCormick. I've said this ever since I started working here. This is the kind of nerd I am. I'm going to go back to the Bahamas again, Mac. My wife was even looking at the pictures I took when we were there, and she was like, "Jason, why do you have a picture of the spice rack from the grocery store?"
Greer:That sounds like a cry for help.
Moser:[laughs] Well, I was in the grocery store, just a local grocery store, looking at the spice rack, and I'm thinking, there's a bunch of McCormick stuff, and then there's some other generic brands and local brands, and I'm taking a picture so I don't forget the names of them because when I get home I want to look them up and start researching to see what names McCormick is responsible for on that spice rack. So, I think McCormick could still be a cool acquisition for them to make, particularly after theRB Foodsdeal that brings French's mustard and Frank's RedHot Sauce under their umbrella. Man, McCormick is just a Berkshire company through and through.
Greer:I will confess, I don't know if I heard any of that last part, because I can't stop thinking about you taking a picture of a spice rack, and someone in the front of the store feeling the need to call authorities.
Moser:Yeah, I'm sure.
Greer:It's a little ...
Moser:It's a little weird.
Greer:... I don't want to say "creepy," but it's not usual.
Moser:I can't turn my mind off.
Kretzmann:It's unique.
Greer:It's unique. It's not ordinary behavior.
Moser:I'm just hardwired a certain way, man. I can't get past it.
Greer:It's not against the law.
Moser:I can't get past it. I mean, I'm the cook of the house. Maybe that has something to do with it. I mean, I think I can at least play that angle.
Greer:I think that's good, I would lead with that next time. "I'm the cook of the house and I took a picture of the spice rack." Otherwise it feels like a cry for help.
Kretzmann:Well, here's a contrarian thought for Berkshire: I think they need some more restaurants in their portfolio to compliment Dairy Queen. Why not? A lot of restaurants are cheap right now.
Greer:Nice.
Kretzmann:I don't know if you go afterDomino's, which is basically printing money.
Moser:Chick-fil-A.
Kretzmann:Chick-fil-A, there you go. So, I don't know, why not branch out that restaurant portfolio? A lot of cheap concepts out there right now.
Greer:But not Dave & Buster's.
Kretzmann:Not Dave & Buster's, not at all. Anything but Dave & Buster's, you'll have a better bet.
Greer:OK, I suspect I know where you're going with this one, but, my desert island question. You're on a desert island, you can only own one of these stocks for the next five years. We have Dave & Buster's, we have Amazon, or we have Berkshire. Where are you going?
Kretzmann:From here, I'll go with Berkshire. Why not?
Moser:I'm just Amazon through and through. To me, there's such a big market opportunity in so many different ways. I'm a big fan of the business and intend on owning those shares for a very long time to come.
Greer:OK. Guys, well, thanks for joining me!
Kretzmann:Thanks, Mac!
Moser:Thank you!
Greer:As always, people on the show they have interests in the stocks they talk about, and The Motley Fool may have formal recommendations for or against, so don't buy or sell stocks based solely on what you hear. That's it for this edition ofMarket Foolery. The show is mixed by Dan Boyd. I'm Mac Greer. Thanks for listening! We'll see you tomorrow!
John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors.David Kretzmannowns shares of Amazon, Berkshire Hathaway (B shares), Booking Holdings, Costco Wholesale, Domino's Pizza, and McCormick.Jason Moserowns shares of Berkshire Hathaway (B shares).Mac Greerowns shares of Amazon and Costco Wholesale. The Motley Fool owns shares of and recommends Amazon, Berkshire Hathaway (B shares), and Booking Holdings. The Motley Fool recommends Costco Wholesale, Dave & Buster's Entertainment, FedEx, JetBlue Airways, and McCormick. The Motley Fool has adisclosure policy. || Why Investors Should Always Currency Hedge: This article was originally published on ETFTrends.com. While the U.S. dollar has weakened against foreign currencies, international stock investors should still keep in mind the benefits of hedging foreign exchange swings ahead and even look to targeted exchange traded fund strategies to limit currency risks. "Our view is that you should almost always currency hedge," Luke Oliver, Managing Director and Head of ETF Capital Markets for DWS , said at the Inside ETFs 2018 conference. "The fundamentals for a strengthening dollar still remains - rates are rising quicker here than elsewhere. You have a positive carry to currency hedge, and you also reduce your volatility." The currency-hedged international investment strategy is not a short-term play but a strategic long-term view for portfolio construction when incorporating international market exposure, which just so happens to be a good opportunity right now as many foreign markets look attractive relative to the pricey valuations here back at home. "We see a strong case for always being hedged," Arne Noack, Head of ETPs Development for DWS, said. "You significantly reduce the volatility, so it is not only necessary on the return play but also reduction play, the risk reduction play for your portfolio." For instance, when gaining exposure to international equities, investors can look to something like the Xtrackers MSCI EAFE Hedged Equity ETF ( DBEF ) . As the U.S. dollar strengthens, foreign currencies would depreciate. If an investor holds a foreign stock that is denominated in the local currencies, a weaker foreign currency would translate to a lower USD-denominated return on that foreign equity exposure. DBEF provides exposure to equity securities in developed international stock markets, while at the same time mitigating exposure to fluctuations between the value of the U.S. dollar and non-U.S. currencies. Additionally, something like the Xtrackers MSCI Emerging Markets Hedged Equity ETF (NYSEArca: DBEM) can provided a currency hedged way to access the emerging markets in case the U.S. dollar continues to strengthen. Story continues For more ETF-related commentary from Tom Lydon and other industry experts, visit our video category . POPULAR ARTICLES FROM ETFTRENDS.COM How to Find Best Value With Tech ETFs Researching Multi-Factor ETFs? Start Here… India Latest Country to Crackdown On Bitcoin As Trade Tensions Linger, China ETFs Remain Hot Tariff Talk Grounds Aerospace & Defense ETFs READ MORE AT ETFTRENDS.COM > || Why Investors Should Always Currency Hedge: This article was originally published on ETFTrends.com. While the U.S. dollar has weakened against foreign currencies, international stock investors should still keep in mind the benefits of hedging foreign exchange swings ahead and even look to targeted exchange traded fund strategies to limit currency risks. "Our view is that you should almost always currency hedge," Luke Oliver, Managing Director and Head of ETF Capital Markets for DWS , said at the Inside ETFs 2018 conference. "The fundamentals for a strengthening dollar still remains - rates are rising quicker here than elsewhere. You have a positive carry to currency hedge, and you also reduce your volatility." The currency-hedged international investment strategy is not a short-term play but a strategic long-term view for portfolio construction when incorporating international market exposure, which just so happens to be a good opportunity right now as many foreign markets look attractive relative to the pricey valuations here back at home. "We see a strong case for always being hedged," Arne Noack, Head of ETPs Development for DWS, said. "You significantly reduce the volatility, so it is not only necessary on the return play but also reduction play, the risk reduction play for your portfolio." For instance, when gaining exposure to international equities, investors can look to something like the Xtrackers MSCI EAFE Hedged Equity ETF ( DBEF ) . As the U.S. dollar strengthens, foreign currencies would depreciate. If an investor holds a foreign stock that is denominated in the local currencies, a weaker foreign currency would translate to a lower USD-denominated return on that foreign equity exposure. DBEF provides exposure to equity securities in developed international stock markets, while at the same time mitigating exposure to fluctuations between the value of the U.S. dollar and non-U.S. currencies. Additionally, something like the Xtrackers MSCI Emerging Markets Hedged Equity ETF (NYSEArca: DBEM) can provided a currency hedged way to access the emerging markets in case the U.S. dollar continues to strengthen. Story continues For more ETF-related commentary from Tom Lydon and other industry experts, visit our video category . POPULAR ARTICLES FROM ETFTRENDS.COM How to Find Best Value With Tech ETFs Researching Multi-Factor ETFs? Start Here… India Latest Country to Crackdown On Bitcoin As Trade Tensions Linger, China ETFs Remain Hot Tariff Talk Grounds Aerospace & Defense ETFs READ MORE AT ETFTRENDS.COM > || $1.6 billion cryptocurrency exchange Coinbase is launching a venture fund to create an 'open financial system for the world': Glassdoor/Coinbase
• Coinbase, the cryptocurrency exchange, is launching a venture fund, the company announced in a blog post Thursday.
• The San Francisco-based company has been building out its business outside trading, breaking into custody, and now VC investing.
• For now, it will not invest in security tokens.
Coinbase, the cryptocurrency trading platform valued at $1.6 billion, is launching a venture fund that will invest in companies changing the world of finance, the company announced in a blog post Thursday.
Coinbase Ventures will provide "financing to promising early stage companies that have the teams and ideas that can move the space forward in a positive, meaningful way," the post said.
"Here at Coinbase, we’re committed to creating an open financial system for the world," the company said.
The company will not invest in security tokens at this moment, it said.
It stands to reason that Coinbase is jumping on the VC bandwagon, since the company is likely sitting on a ton of cash. As reported by Recode, the company's revenues in 2017 were over $1 billion.
To be sure, Coinbase isn't the only crypto exchange making money hand-over-fist.As Bloomberg reported, the top ten largest crypto exchanges rake in $3 million in fees a day.
Still, Coinbase has been one of the most aggressive exchanges when it comes to venturing outside of trading.
The firm's general manager Dan Romero recentlytold Business Insider's Becky Petersonthat it is hiring more C-level executives, who Romero hopes will transform the company into a behemoth touching all aspects of crypto.
"We're trying to build a Google-like company for the cryptocurrency space," Romero said at the time.
Coinbase, which first started offering services for Wall Street firms in 2014 via its GDAX exchange, has recently been gunning for more institutional business in crypto. GDAX is at the core of that mission.
But the firm has also announced the launch of Coinbase Custodian, a custodian product for the crypto space which the firm is trying to scale to be the "State Street of cryptocurrency."
As Business Insiderpreviously reported, the service will provide institutional clients a method to store their cryptocurrency that offers the same level of security as custody banks such as State Street. It'll only be available to customers with at least $10 million in deposits.
GDAX is also working on other products and services, including advanced order types and products tied to market data.
NOW WATCH:Investors need to lower their expectations
See Also:
• A former portfolio manager at Steve Cohen's Point72 is setting out to launch a $50 million crypto hedge fund
• Coinbase snags a former New York Stock Exchange exec to push crypto to Wall Street
• Bitcoin Foundation cofounder: Crypto isn't in a bubble — 'bitcoin is the pin that's going to pop the bubble'
SEE ALSO:A top Coinbase exec explains the master plan to turn the $1.6 billion cryptocurrency exchange into the next Google || $1.6 billion cryptocurrency exchange Coinbase is launching a venture fund to create an 'open financial system for the world': puppies in the Coinbase office Glassdoor/Coinbase Coinbase, the cryptocurrency exchange, is launching a venture fund, the company announced in a blog post Thursday. The San Francisco-based company has been building out its business outside trading, breaking into custody, and now VC investing. For now, it will not invest in security tokens. Coinbase, the cryptocurrency trading platform valued at $1.6 billion, is launching a venture fund that will invest in companies changing the world of finance, the company announced in a blog post Thursday. Coinbase Ventures will provide " financing to promising early stage companies that have the teams and ideas that can move the space forward in a positive, meaningful way," the post said. "Here at Coinbase, we’re committed to creating an open financial system for the world," the company said. The company will not invest in security tokens at this moment, it said. It stands to reason that Coinbase is jumping on the VC bandwagon, since the company is likely sitting on a ton of cash. As reported by Recode, the company's revenues in 2017 were over $1 billion. To be sure, Coinbase isn't the only crypto exchange making money hand-over-fist. As Bloomberg reported , the top ten largest crypto exchanges rake in $3 million in fees a day. Still, Coinbase has been one of the most aggressive exchanges when it comes to venturing outside of trading. The firm's general manager Dan Romero recently told Business Insider's Becky Peterson that it is hiring more C-level executives, who Romero hopes will transform the company into a behemoth touching all aspects of crypto. "We're trying to build a Google-like company for the cryptocurrency space," Romero said at the time. Coinbase, which first started offering services for Wall Street firms in 2014 via its GDAX exchange, has recently been gunning for more institutional business in crypto. GDAX is at the core of that mission. But the firm has also announced the launch of Coinbase Custodian, a custodian product for the crypto space which the firm is trying to scale to be the "State Street of cryptocurrency." As Business Insider previously reported , the service will provide institutional clients a method to store their cryptocurrency that offers the same level of security as custody banks such as State Street. It'll only be available to customers with at least $10 million in deposits. GDAX is also working on other products and services, including advanced order types and products tied to market data. Story continues NOW WATCH: Investors need to lower their expectations See Also: A former portfolio manager at Steve Cohen's Point72 is setting out to launch a $50 million crypto hedge fund Coinbase snags a former New York Stock Exchange exec to push crypto to Wall Street Bitcoin Foundation cofounder: Crypto isn't in a bubble — 'bitcoin is the pin that's going to pop the bubble' SEE ALSO: A top Coinbase exec explains the master plan to turn the $1.6 billion cryptocurrency exchange into the next Google View comments || What Happened in the Stock Market Today: Stocks were in positive territory throughout the session Thursday, with the Dow Jones Industrial Average (DJINDICES: ^DJI) and the S&P 500 (SNPINDEX: ^GSPC) both posting significant gains. Today's stock market Index Percentage Change Point Change Dow 0.99% 240.92 S&P 500 0.69% 18.15 Data source: Yahoo! Finance. Energy and materials were the strongest sectors today. The SPDR S&P Oil & Gas Exploration & Production ETF (NYSEMKT: XOP) rose 2.9% and the SPDR S&P Metals and Mining ETF (NYSEMKT: XME) gained 2.2%. As for individual stocks, LongFin Corp. (NASDAQ: LFIN) had another wild day and Conn's (NASDAQ: CONN) sunk on disappointing sales. Rising stock graph. Image source: Getty Images. Yet another big swing for LongFin stock Shares of controversial financial technology company Longfin soared 64.9% after the company's CEO went on CNBC to defend the company's practices and blame short-sellers for the recent plunge in stock price. In the interview, CEO Venkat Meenavalli said that he is fighting against $1.4 billion in short sales of the company's stock, and does not intend to sell any of his shares for three years. The huge move in the stock price is just the latest episode in the saga of a company that short-seller Citron Research called a "pure stock scheme." LongFin debuted at $5 per share in December using a provision of the 2012 JOBS Act that allowed it to go public without the accounting and disclosure requirements larger companies have to follow. The stock soared as high as $142 a few days later when LongFin disclosed it had bought cryptocurrency website Ziddu.com, instantly associating itself with blockchain technology and the rabid investor attention it garners. The company was added to the Russell 2000 Index last month, but things started unraveling for LongFin shareholders when FTSE Russell announced it was removing LongFin from the index because it had not met the float requirement. Then, LongFin filed its annual 10-K on Monday, saying it was under investigation by the Securities and Exchange Commission . The stock plummeted, losing 86% of its value since March 23. Story continues There's not really a rational explanation for why this company with no credible business model is worth 65% more today than yesterday, but what seems likely is that we'll see plenty more wild swings ahead. Conn's falls on disappointing sales Specialty retailer Conn's reported fiscal fourth-quarter results that beat profit expectations but missed on sales, and the stock got pounded, falling 14.3%. Sales fell 2.9% to $420.4 million, compared with the analyst consensus of $428.7 million. Adjusted earnings per share came in at $0.56, beating expectations by $0.02. Same-store sales dropped 8%, compared with a 7% decline last quarter, with the biggest contractions coming from consumer electronics and furniture and mattresses. All five product categories had unit volume declines, but increases in average selling price contributed to a record retail gross margin of 40.1%, compared with 38.9% in the quarter a year earlier. Conn's specializes in selling to lower-income customers on credit, with the company financing approximately 71% of customer transactions through its in-house financing program. Contributing to the strong profit performance was a big improvement in credit spread, which was the highest in three years. Revenue from the credit segment increased 12.1%. Looking forward, the company said it is expecting improving sales trends, with same-store sales falling between 3% and 5% for the current fiscal year, and continued widening of the credit spread. Whereas the quarter had some positive signs for the business, analysts on the call questioned why the outlook for same store-sales growth wasn't any better. Conn's stock did well in 2017, but investors may need evidence of sales growth before it they're willing to resume bidding up the shares. More From The Motley Fool 3 Growth Stocks at Deep-Value Prices 5 Expected Social Security Changes in 2018 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing 10 Best Stocks to Buy Today The $16,122 Social Security Bonus You Cannot Afford to Miss Bitcoin's Biggest Competitor Isn't Ethereum -- It's This Jim Crumly has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy . || What Happened in the Stock Market Today: Stocks were in positive territory throughout the session Thursday, with theDow Jones Industrial Average(DJINDICES: ^DJI)and theS&P 500(SNPINDEX: ^GSPC)both posting significant gains.
[{"Index": "Dow", "Percentage Change": "0.99%", "Point Change": "240.92"}, {"Index": "S&P 500", "Percentage Change": "0.69%", "Point Change": "18.15"}]
Data source: Yahoo! Finance.
Energy and materials were the strongest sectors today. TheSPDR S&P Oil & Gas Exploration & Production ETF(NYSEMKT: XOP)rose 2.9% and theSPDR S&P Metals and Mining ETF(NYSEMKT: XME)gained 2.2%.
As for individual stocks,LongFin Corp.(NASDAQ: LFIN)had another wild day andConn's(NASDAQ: CONN)sunk on disappointing sales.
Image source: Getty Images.
Shares of controversial financial technology company Longfinsoared 64.9%after the company's CEOwent on CNBCto defend the company's practices and blame short-sellers for the recent plunge in stock price. In the interview, CEO Venkat Meenavalli said that he is fighting against $1.4 billion in short sales of the company's stock, and does not intend to sell any of his shares for three years.
The huge move in the stock price is just the latest episode in the saga of a company that short-seller Citron Researchcalleda "pure stock scheme." LongFin debuted at $5 per share in December using a provision of the 2012 JOBS Act that allowed it to go public without the accounting and disclosure requirements larger companies have to follow. The stock soared as high as $142 a few days later when LongFin disclosed it had bought cryptocurrency website Ziddu.com, instantly associating itself with blockchain technology and the rabid investor attention it garners.
The company was added to the Russell 2000 Index last month, but things started unraveling for LongFin shareholders whenFTSE Russell announcedit was removing LongFin from the index because it had not met the float requirement. Then, LongFin filed its annual 10-K on Monday, saying it wasunder investigation by the Securities and Exchange Commission. The stock plummeted, losing 86% of its value since March 23.
There's not really a rational explanation for why this company with no credible business model is worth 65% more today than yesterday, but what seems likely is that we'll see plenty more wild swings ahead.
Specialty retailer Conn's reportedfiscal fourth-quarter resultsthat beat profit expectations but missed on sales, and the stock got pounded, falling 14.3%. Sales fell 2.9% to $420.4 million, compared with the analyst consensus of $428.7 million. Adjusted earnings per share came in at $0.56, beating expectations by $0.02.
Same-store sales dropped 8%, compared with a 7% decline last quarter, with the biggest contractions coming from consumer electronics and furniture and mattresses. All five product categories had unit volume declines, but increases in average selling price contributed to a record retail gross margin of 40.1%, compared with 38.9% in the quarter a year earlier.
Conn's specializes in selling to lower-income customers on credit, with the company financing approximately 71% of customer transactions through its in-house financing program. Contributing to the strong profit performance was a big improvement in credit spread, which was the highest in three years. Revenue from the credit segment increased 12.1%.
Looking forward, the company said it is expecting improving sales trends, with same-store sales falling between 3% and 5% for the current fiscal year, and continued widening of the credit spread.
Whereas the quarter had some positive signs for the business, analysts on the call questioned why the outlook for same store-sales growth wasn't any better. Conn's stock did well in 2017, but investors may need evidence of sales growth before it they're willing to resume bidding up the shares.
More From The Motley Fool
• 3 Growth Stocks at Deep-Value Prices
• 5 Expected Social Security Changes in 2018
• 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing
• 10 Best Stocks to Buy Today
• The $16,122 Social Security Bonus You Cannot Afford to Miss
• Bitcoin's Biggest Competitor Isn't Ethereum -- It's This
Jim Crumlyhas no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has adisclosure policy. || 3 Dividend Stocks That Should Pay You the Rest of Your Life: Income investing is harder than it seems. Finding the most generous dividend yields on the market simply isn't good enough, and that strategy will lead you into many value traps along the way. Long-term investors with a yen for dividend payouts must focus on stable and flexible businesses with plenty of fiscal discipline.
To help you in this difficult quest for the perfect dividend stock, we asked for some help from a few of your fellow investors. Read on to see why our panelists recommendEnbridge(NYSE: ENB),Kyocera(NYSE: KYO), andBoeing(NYSE: BA)for income investors seeking long-term dividend growth.
Image source: Getty Images.
Chuck Saletta(Enbridge):Imagine what would happen if energy pipelines suddenly vanished. Gas for your car would quickly become hard to come by. Natural gas for heating homes or running power plants would also become scarce in a hurry. It's incredibly important to not onlyproduceall that energy but also to get it from where it's produced to where it's consumed. And that transportation is what Enbridge specializes in.
A Canada-based energy transportation titan, Enbridge has growth through both natural expansion andacquisitionsto become North America's largest energy infrastructure company. It, more than any other company, is responsible for moving all that energy around the continent. From a dividend perspective, the company boasts a 64-year history of paying dividends to its shareholders. In addition, it has managed to increase its dividend at a better-than-11% annualized rate over the past 20 years.
While past performance is certainly not a guarantee of future results, it can certainly provide you with strong reasons to consider what might be possible. When you combine the company's rich history of dividend payments with its strong market position and the criticality of its industry, you get a very good reason to believe that Enbridge may be able to continue paying its dividend for a long time to come. Perhaps it may even be able to keep it up for the rest of your life.
Anders Bylund(Kyocera):When looking for truly long-term dividend stocks, I'm interested in three things above all else:
• A flexible business model, giving the company lots of options in response to changing markets.
• A proven commitment to creating shareholder value through a combination of dividends and share buybacks.
• Enough free cash flow to fund those buybacks and dividend payouts -- with some cash left over for other uses. I like flexibility, remember?
The first requirement makes for a success story with strong prospects for the long haul. The second ensures that shareholders get to participate in those long-haul wins, and the third one provides a stable foundation for the other two. Take out any one of these three support pillars and the whole dividend strategy is sure to come crashing down over time.
Kyocera easily meets all three of these criteria, making it a top-notch dividend stock in my book. The dividend yield stands at a modest 1.9% today, but I'm much more interested in signs that the policy will be around and well-funded for decades to come.
What started as Kyoto Ceramics nearly six decades ago has grown and evolved into a cross-sector conglomerate. Kyocera's operations include consumer electronics, solar panels, telecommunications equipment, semiconductor packaging, manufacturing services, and advanced ceramic materials. The company often jumps into new markets by acquisition, buying out a thought leader or promising underdog in a new field. Kyocera has enough operations going on to unlock synergies in many adjacent markets.
Kyocera generated $950 billion of free cash over the last four quarters out of $13.8 billion in top-line revenue. The company has used this strong cash machine to double its dividend payments over the last decade. Dividends still account for just 45% of Kyocera's annual free cash flow, leaving lots of room for other cash investments.
So Kyocera ticks all the boxes I require from a strong dividend investment for the long term.
Dan Caplinger(Boeing):Boeing isn't the first stock you'd probably think of as being a dividend leader, with its current 2.1% yield just barely topping the overall market's average. Yet what smart dividend investors realize is that it doesn't just matter what a stock pays out right now. It also matters whether a dividend stock will give you steadily growing payouts well into the future, and Boeing is among the best-positioned stocks in the market to give you that growth for years to come.
Boeing has been amassing a huge backlog of aircraft orders for years, taking advantage of favorable conditions in the airline industry to provide customers with the opportunity to upgrade their fleets. Competition among airlines has gotten fierce, and no company can afford to give a rival the advantage of a newer lineup of aircraft that cuts operating expenses and boosts profits.
Already,Boeing has returned much of its bountyto shareholders, with dividend increases ranging from 20% to 50% in each of the past five years. With no signs of good conditions letting up, Boeing should be able to sustain similar dividend growth for the foreseeable future, and any further share-price gains that the aircraft manufacturer can deliver will just be icing on the cake.
More From The Motley Fool
• 3 Growth Stocks at Deep-Value Prices
• 5 Expected Social Security Changes in 2018
• 6 Years Later, 6 Charts That Show How Far Apple, Inc. Has Come Since Steve Jobs' Passing
• 10 Best Stocks to Buy Today
• The $16,122 Social Security Bonus You Cannot Afford to Miss
• Bitcoin's Biggest Competitor Isn't Ethereum -- It's This
Anders Bylundhas no position in any of the stocks mentioned.Chuck Salettaowns shares of Enbridge.Dan Caplingerowns shares of Boeing. The Motley Fool owns shares of and recommends Enbridge. The Motley Fool has adisclosure policy.
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Short term still bearish. We're in a bear flag with decreasing volume. I expect a drop to $6k.
Long term we're in a falling wedge and ...
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